Brigade Enterprises advanced 1.29% to Rs 1362.35 after the company announced the launch of Brigade Insignia, a premium residential project in Yelahanka, Bengaluru.
Brigade Insignia comprises six towers housing 379 units of three, four and five BHK apartments spread across a 6-acre land parcel. The project has a revenue potential of Rs 1100 crore.
Apartments at Brigade Insignia are available at a ticket size ranging from Rs 3 crore to Rs 9 crore.
Pavitra Shankar, managing director, Brigade Enterprises, said: "At Brigade, we are committed to creating extraordinary living experiences. Brigade Insignia is a perfect example of that, with its high-quality construction, design and architecture that conform to world class standards.
Demand for residential projects is currently high, and the segment is witnessing steady growth. This project is set to ride on that demand and is part of our 11 million square feet expansion plan in the residential space and will be ideal, both as an investment and for ownership.
Brigade Enterprises is one of Indias leading property developers. The company has developed properties in cities like Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.
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The company reported consolidated net profit of Rs 206.09 crore in Q4 FY24, steeply higher than Rs 69.25 crore reported in Q4 FY23. Revenue from operation surged 102.04% to Rs 1,702.37 crore in Q4 FY24 as compared to Rs 842.57 crore recorded in the corresponding quarter previous year.
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