Brigade Enterprises gained 1.03% to Rs 968.10 after the company announced the launch of its premium residential project 'Brigade Altius' in Sholinganallur, Chennai, and the project has a revenue potential of Rs 1,700 crore.
The project is spread over a land area of 6.5 acre and has a total development area of 1.4 million square feet. It consists of three signature towers and each tower comprises of 43 floors, making it one of the tallest developments in the area.
Pavitra Shankar, managing director, Brigade Enterprises, said: "Our focus is on the three big South Indian markets of Bengaluru, Chennai and Hyderabad. Chennai is set to become our second -largest market after Bengaluru, and we aim to double our growth in the city across residential, commercial, retail and hospitality.
We have developed the iconic World Trade Center Chennai and, more recently, launched Brigade Icon on Mount Road, our most premium offering. With the launch of Brigade Altius, we continue to strengthen our presence and commitment to Chennais growth."
Brigade Enterprises is one of Indias leading property developers. The company has developed properties in cities like Bengaluru, Mysuru, Hyderabad, Chennai, Kochi, and GIFT City with developments across residential, office, retail, hospitality, and education sectors.
The company reported a consolidated net profit of Rs 236.2 crore in Q3 FY25, which is more than 3 times the PAT of Rs 73.5 crore posted in Q3 FY24. Revenue rose by 27% YoY to Rs 1529.7 crore during the period under review.
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