Recognition at the ET Real Estate Awards 2026: Understanding the Legacy of M.R. Jaishankar and the Evolution of Brigade Enterprises

The Indian real estate sector has undergone a dramatic transformation over the past three decades. From a fragmented, largely unregulated industry to one increasingly shaped by transparency, institutional investment, and urban planning reforms, its growth mirrors the country’s broader economic expansion. Against this backdrop, the Lifetime Achievement Award presented to M.R. Jaishankar, Chairman and Managing Director of Brigade Enterprises, at the ET Real Estate Awards 2026 serves as a moment to examine both an individual career and the trajectory of a changing industry.

This article explores who M.R. Jaishankar is, why the recognition matters, how Brigade Enterprises developed over time, and what this milestone says about the future of Indian real estate.

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The Award and Its Context

The ET Real Estate Awards, organized by The Economic Times, are among the most closely watched recognitions in India’s property sector. They highlight excellence across categories such as residential development, commercial projects, innovation, sustainability, and leadership.

In 2026, the Lifetime Achievement Award was conferred on , acknowledging his decades-long contribution to real estate development and corporate leadership.

Lifetime achievement awards typically recognize sustained impact rather than a single project or year. In this case, the honor reflects a career that has spanned urban expansion, regulatory reform, and the professionalization of property development in India.

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Who Is M.R. Jaishankar?

M.R. Jaishankar is the Chairman and Managing Director of , a Bengaluru-based real estate company that has grown into one of South India’s prominent developers.

Founded in 1986 by his father, M.K. Mariappa, Brigade Enterprises began as a small property development firm. Jaishankar later took over leadership and expanded the company into multiple asset classes, including:

• Residential housing
• Commercial office spaces
• Retail developments
• Hospitality projects
• Integrated townships

Under his stewardship, the company expanded beyond Bengaluru into cities such as Chennai, Hyderabad, Mysuru, Kochi, and Ahmedabad. Brigade Enterprises is also publicly listed, which introduced new standards of governance and financial disclosure.

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Why This Recognition Matters

1. Industry Maturity

The Indian real estate sector historically operated with limited regulatory oversight. Before the introduction of the Real Estate (Regulation and Development) Act (RERA) in 2016, buyers faced risks related to delays, cost escalations, and project transparency.

Over time, developers that adapted to compliance, corporate governance, and institutional funding emerged as industry leaders. Recognition of long-serving leaders like Jaishankar reflects the broader professionalization of the sector.

2. Urban Expansion and Economic Growth

India’s urban population has grown significantly since the 1990s. With economic liberalization in 1991, cities such as Bengaluru evolved into technology and service hubs. This created demand for:

• Office campuses
• Residential housing
• Retail infrastructure
• Hotels and serviced apartments

Developers like Brigade Enterprises played a role in shaping this urban expansion.

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How Brigade Enterprises Developed Over Time

The growth of Brigade Enterprises parallels major shifts in the Indian economy.

Early Years: Local Developer (1980s–1990s)

During its initial years, the company focused largely on residential projects in Bengaluru. The market was relatively small, capital was limited, and financing options were fewer.

IT Boom and Commercial Expansion (2000s)

The early 2000s saw Bengaluru emerge as India’s IT capital. The influx of multinational corporations created demand for Grade A office spaces. Developers who could deliver large-scale commercial infrastructure gained an advantage.

Brigade expanded into commercial real estate during this period, aligning its portfolio with market demand.

Diversification and Public Listing

Over time, the company diversified into retail malls and hospitality. It also went public, increasing access to capital markets and requiring stricter corporate governance.

Post-RERA Era (2016 onward)

RERA introduced regulatory reforms aimed at:

• Protecting homebuyers
• Mandating project registration
• Increasing transparency
• Imposing penalties for delays

Established developers with stronger compliance frameworks were better positioned to navigate this transition.

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A Snapshot of Brigade Enterprises’ Growth

Phase	Key Development	Industry Context	Impact
1986–1995	Focus on residential projects	Limited regulation, localized markets	Established brand in Bengaluru
2000–2010	Entry into commercial office space	IT boom and foreign investment	Expanded revenue base
2010–2016	Diversification into retail and hospitality	Rising consumer spending	Multi-asset portfolio
Post-2016	RERA compliance and governance focus	Increased regulation and buyer awareness	Strengthened credibility

This trajectory reflects not only company-level decisions but broader structural changes in India’s urban economy.

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Why the Real Estate Sector Needed Transformation

To understand the significance of lifetime recognition in this field, it helps to examine the root challenges that historically affected Indian real estate.

Fragmented Market Structure

For decades, the industry consisted of numerous small, unorganized players. Standardization in contracts, delivery timelines, and quality benchmarks was limited.

Regulatory Gaps

Before RERA, homebuyers had fewer legal protections against delays or project changes. This contributed to trust deficits between buyers and developers.

Financing Constraints

Developers often relied heavily on customer advances and informal financing channels. Institutional funding and Real Estate Investment Trusts (REITs) gained prominence only in recent years.

Urban Infrastructure Pressure

Rapid migration to cities strained infrastructure such as roads, water supply, and public transport. Developers had to coordinate with government agencies for approvals and connectivity.

Leaders who navigated these challenges over decades contributed to stabilizing and institutionalizing the sector.

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Who Is Affected and How?

The impact of real estate development extends beyond builders and investors.

1. Homebuyers

Residential buyers are directly affected by project quality, timelines, and pricing. Established developers often attract buyers seeking reliability and compliance.

2. Employees and Contractors

Large real estate companies employ thousands of workers across engineering, design, sales, and operations. They also support contractors, suppliers, and service providers.

3. Urban Communities

Mixed-use developments and integrated townships influence how communities function — affecting commute patterns, local commerce, and public spaces.

4. Investors

Institutional investors, private equity firms, and retail shareholders monitor governance standards and financial stability in listed real estate firms.

Recognition of long-term leadership signals stability to these stakeholders.

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The Broader Economic Impact

Real estate is closely linked to multiple sectors, including:

• Cement and steel
• Banking and housing finance
• Interior design and furnishings
• Retail and hospitality

According to industry estimates, real estate contributes significantly to India’s GDP and employment generation. As urbanization continues, demand for structured housing and commercial infrastructure remains strong.

Recognition events such as the ET Real Estate Awards highlight how the industry is shifting toward greater transparency and sustainability.

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Governance and Sustainability: Emerging Priorities

In recent years, real estate developers have faced growing expectations around:

• Environmental sustainability
• Energy-efficient buildings
• ESG (Environmental, Social, and Governance) reporting
• Responsible land use

Urban expansion must now balance economic growth with environmental considerations. Water conservation, green building certifications, and waste management practices are increasingly integrated into projects.

Leadership awards often reflect not only financial performance but also adherence to these evolving standards.

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Challenges That Remain

Despite progress, several structural challenges continue:

Land Acquisition Complexities

Land titles and ownership disputes remain complicated in many regions.

Regulatory Approvals

Multiple approval layers can delay projects and increase costs.

Market Cycles

Real estate demand fluctuates with interest rates, employment trends, and global economic conditions.

Affordability

In major cities, property prices often outpace income growth, raising concerns about housing accessibility.

Industry veterans navigating these uncertainties over decades help shape resilience strategies.

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Looking Ahead: What May Happen Next?

The future of Indian real estate will likely be influenced by several trends:

1. Urban Tier-II Expansion

Cities beyond major metros are witnessing increased development activity due to infrastructure upgrades and remote work flexibility.

2. Technology Integration

Digital sales platforms, virtual walkthroughs, and AI-driven design tools are becoming more common.

3. Institutional Investment

Greater participation by pension funds, global investors, and REITs may enhance transparency and liquidity.

4. Sustainability Mandates

Stricter environmental regulations could reshape construction methods and materials.

Leaders recognized today have laid foundations that newer executives will build upon in a more regulated and technologically advanced environment.

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Understanding the Meaning of Lifetime Achievement

Lifetime awards in business sectors often symbolize:

• Long-term adaptability
• Ethical governance
• Industry-building contributions
• Mentorship and leadership development

For M.R. Jaishankar, the recognition highlights decades of engagement during transformative phases in Indian real estate.

It also reflects the evolution of Bengaluru as a metropolitan hub. The city’s rise as a technology and startup center created demand for residential complexes, office parks, and retail infrastructure — developments that companies like Brigade Enterprises helped shape.

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Conclusion

The Lifetime Achievement Award presented to M.R. Jaishankar at the ET Real Estate Awards 2026 is not merely a ceremonial milestone. It provides an opportunity to examine the broader journey of India’s real estate sector — from fragmented beginnings to a more structured, regulated, and investor-friendly industry.

Brigade Enterprises’ growth over nearly four decades mirrors shifts in urbanization, economic liberalization, and regulatory reform. The recognition underscores how leadership continuity can contribute to institutional stability in a sector deeply connected to people’s homes, workplaces, and daily lives.

As India continues to urbanize, the real estate industry will face both opportunities and pressures — from sustainability demands to affordability challenges. Awards that acknowledge long-term contributions serve as markers of progress, while also reminding stakeholders that the sector’s evolution is ongoing.

In that sense, the story behind the award is less about a single evening of recognition and more about the steady transformation of an industry that shapes the physical and economic landscape of modern India.