Brigade Enterprises gains on launch of 6.1-mn-sqft housing project

Brigade Enterprises gains on launch of 6.1-mn-sqft housing project

The share touched a 52-week high of Rs 1,107.65 and a 52-week low of Rs 446.00 on 07 February, 2024 and 27 March, 2023, respectively.

Brigade Enterprises

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Real Estate Developers Brigade Enterprises shares gained nearly 1 percent in early trade on March 5 after the company launched project ‘Dioro’ at Brigade El Dorado at a size of around 6.1 million square feet.

At 9:25am, Brigade Enterprises was quoting Rs 1,002.35, up Rs 4.85, or 0.49 percent, on the BSE.

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The company has pegged the potential revenue value of Dioro at Brigade El Dorado comprising 525 two-bedroom and three-bedroom units in two towers, at around Rs 380 crore.

The project is expected to be completed by Q2 FY29, and as part of the township comes with a diverse range of over 80 amenities, a hospital, a central park, a multiplex, sports and retail facilities, company said.

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On February 21, Brigade Group signed a joint development agreement with PVP Ventures Ltd to develop a 2.5 million square feet, high-rise residential project in Chennai.

The company had reported a 31 percent increase in its consolidated net profit to Rs 55.79 crore for the quarter ended December.

The share touched a 52-week high of Rs 1,107.65 and a 52-week low of Rs 446.00 on February 7, 2024 and March 27, 2023. Currently, the stock is trading 9.51 percent below its 52-week high and 124.74 percent above its 52-week low.

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