Brigade Enterprises shares rise after acquiring 20 acres land in Bengaluru

Brigade Enterprises shares advanced 2 per cent in Monday's trade on BSE, logging an intraday high at Rs 1,319.20 per share. The stock was in demand after the company signed a definitive agreement for a prime land parcel located on Whitefield-Hoskote Road, Bengaluru for developing a residential project spanning about 20 acres.

 

As per the filing, the project will have a total saleable area of approximately 2.5 Mn sqft with a gross development value (GDV) of about Rs 2,700 crore and a total land cost of about Rs 630 crore through its subsidiary Ananthay Properties Private Limited. 

 

The project will be designed in line with Brigade's commitment to delivering high-quality, sustainable spaces that align with Bengaluru's dynamic urban landscape. 

 

 

Brigade Group also has a healthy pipeline of upcoming residential projects, with approximately 12.61 million square feet of new developments across Bengaluru, Chennai, and Hyderabad.

 

"We remain focused on acquiring prime land in key markets to strengthen our land holdings. This project plays a significant role in supporting our long-term residential expansion strategy. We are committed to developing a property that upholds the highest standards of quality and sustainability, while meeting the evolving needs and preferences of our future residents,” said Pavitra Shankar, managing director,Brigade Enterprises.

 

However, around 10:32 AM, Brigade Enterprises share price pared gains and was down 0.88 per cent at Rs 1,281.95 per share on BSE. In comparison, the BSE Sensex was down 0.12 per cent at 79,128.25. The market capitalisation of the company stood at Rs 31,311.91 crore. The 52-week high of the stock stood at Rs 1,451.9 per share and the 52-week low of the stock stood at Rs 826.30 per share.

 

Established in 1986, Brigade Enterprises Ltd. is one of India's leading property developers with near to four decades of expertise in building positive experiences for all their stakeholders and winning their customers' trust. 

 

Brigade has developed many landmark buildings and transformed skylines across cities – Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across Residential, Office, Retail and Hotels.

 

In the past one year, Brigade Enterprises shares have gained 37.2 per cent against Sensex's rise of 10 per cent.