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Brigade Enterprises Incorporates New LLP for Real Estate Development

Mumbai, July 29, 2024 — Brigade Enterprises Limited has announced the incorporation of a new Limited Liability Partnership (LLP) named Brigade HRC LLP. This new entity is aimed at furthering the company's real estate development projects.

Key Details of the New Incorporation

Introduction to Brigade HRC LLP

Brigade Tetrarch Private Limited, a wholly-owned subsidiary of Brigade Enterprises Limited, has incorporated Brigade HRC LLP. The initial capital contribution for the LLP stands at ₹67,00,000. The main objective of Brigade HRC LLP is to take up real estate development projects, enhancing Brigade Enterprises' footprint in the real estate sector.

Disclosure Information:

• Entity Name: Brigade HRC LLP
• Capital Contribution: ₹67,00,000
• Industry: Real Estate Development
• Promoter Interest: Brigade Tetrarch Private Limited, a wholly-owned subsidiary, is a designated partner.
• Regulatory Approvals: The LLP is registered with the Ministry of Corporate Affairs, Government of India, under LLP Identification Number ACI-6073.
• Completion Time: Not applicable as this is an incorporation.
• Consideration Nature: Capital contribution by way of cash.
• Shareholding Percentage: Brigade Tetrarch Private Limited holds 67% of the capital contribution.

Objectives and Impact

Real Estate Development Expansion

Brigade HRC LLP has been established to further Brigade Enterprises Limited's objectives in the real estate sector. The incorporation of this LLP is a strategic move to enhance and streamline their real estate projects, ensuring a focused approach to development and execution.

Regulatory and Compliance

The incorporation follows all regulatory and compliance requirements as per the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This step ensures transparency and adherence to statutory norms, providing stakeholders with clear and accurate information.

Future Prospects

Growth in Real Estate

The formation of Brigade HRC LLP is a significant step in Brigade Enterprises Limited's strategy to expand its real estate development capabilities. With a solid financial foundation and strategic backing from its parent company, Brigade HRC LLP is poised to undertake substantial real estate projects in the near future.

Investor Confidence

By incorporating this new LLP, Brigade Enterprises Limited aims to bolster investor confidence by showcasing their commitment to growth and development in the real estate sector. This move is expected to generate positive interest and attract further investments.

Conclusion

Brigade Enterprises Limited's incorporation of Brigade HRC LLP marks a pivotal moment in their expansion strategy. This new entity will play a crucial role in driving the company's real estate development projects forward, ensuring continued growth and success in the industry.