Brigade Group's ambitious expansion at GIFT City has taken a concrete step forward. Ahmedabad-based construction major PSP Projects Limited has been awarded the civil structure and finishing works contract for BIFC-2, the second tower of Brigade International Finance Centre (BIFC) at GIFT City, Gandhinagar. PSP Projects Limited has announced the receipt of a new work order valued at Rs 107.10 crore, excluding GST, for the civil structure and finishes work for the BIFC-2 Building, awarded by Brigade (Gujarat) Projects Private Limited. The project is located in GIFT City, Gandhinagar, Gujarat, and falls under the Institutional Category.
According to the regulatory filing, the project is scheduled for completion within 24 months from the commencement date. Importantly for buyers and investors tracking corporate governance, the company has confirmed that none of the promoters, members of the promoter group, or group companies have any interest in the entity from which the order has been received, and accordingly the award does not fall under the scope of related party transactions.
BIFC-2 follows on from the success of Brigade's first tower at GIFT City, which has already established itself as a landmark commercial address. Building on the success of the first tower, Brigade International Finance Centre at GIFT City is set to launch its second tower, BIFC 2, by December 2027. The first tower set the benchmark for the development, with a structure comprising 2 Basements + Ground + 14 Floors and Phase 1 floor plates covering 3,15,000 sq.ft, offering ample parking, high-speed elevators, 100% centralised power backup, and a cafeteria. For Brigade, the GIFT City venture carries added significance since BIFC is Brigade's inaugural project in Gujarat and outside South India, leveraging the advantages of Special Economic Zone (SEZ) benefits.
BIFC-2 is designed to build on that foundation with a larger footprint. Designed to cater to the futuristic demands of the Global IT and Financial Services sectors, BIFC 2 reinforces Brigade's commitment to quality, sustainability, and innovation. The tower is planned as a taller structure than its predecessor, reflecting the rising demand for Grade-A office space within the IFSC zone.
This contract is not an isolated data point — it reflects a broader construction boom underway at GIFT City. PSP Projects has been steadily building its institutional order book in the same micro-market; the company had earlier taken up construction of a commercial building called ORYX at GIFT City, Gandhinagar worth Rs 118.13 crore in the Institutional category, with a tenure for completion of 24 months. Such repeat institutional orders from GIFT City point to sustained construction activity as more towers rise across the financial district.
For homebuyers and office-space seekers watching Brigade's Gujarat portfolio, this construction order is a reassuring signal. A firm contractor appointment, a defined 24-month execution timeline, and a track record of transparent, non-related-party dealings all indicate that BIFC-2 is progressing on schedule rather than remaining a paper announcement. GIFT City itself continues to strengthen its pull for global financial and IT occupiers, which bodes well for future leasing demand once BIFC-2 is delivered.
PSP Projects brings decades of institutional construction experience to the table. PSP Projects is a diversified construction company offering a wide range of services across industrial, institutional, government, and residential sectors. Pairing this execution capability with Brigade's design and delivery track record gives prospective occupiers and investors added confidence that BIFC-2 will maintain the quality benchmark set by the first BIFC tower.
