The uptick in share price came after the company announced that its arm has launched a new residential project, Cobalt
The uptick in the stock price came after the real estate player announced that it has signed a joint development agreement for a 1.2 million sq ft residential project in Bengaluru
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The development boasts a revenue potential of Rs 1,100 crore
Realty firm Brigade Enterprises on Thursday said it has launched a new housing project with a revenue potential of Rs 1,100 crore. The project 'Brigade Insignia' is located at Yelahanka, Bengaluru, and comprises 379 units. "The project has a revenue potential of Rs 1,100 crore," the company said in a statement. Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said, "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." Apartments at Brigade Insignia are available at a ticket size ranging from Rs 3 crore to Rs 9 crore. The project is expected to be completed in June 2029. Brigade Group is one of India's leading property developers. Instituted in 1986, the company has developed many projects across South Indian cities - Bengaluru, Mysuru, Hydera
The key momentum oscillators of these four NSE smallcap stocks are showing a negative divergence; hence these stocks are likely to trade with a downward bias in the near term.
Shankar highlights the factors behind the company's revenue growth, the best-performing segments, and the status of their project pipeline
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In FY24, Brigade launched 5.26 million square feet in the residential sector and 0.94 million square feet in the commercial sector
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Realty firm Brigade Enterprises Ltd on Tuesday reported a 46 per cent annual increase in its sale bookings to record Rs 6,013 crore in the last fiscal year, mainly due to better demand for its housing projects. Its sale bookings stood at Rs 4,109 crore in the 2022-23 fiscal. In a statement, Brigade Enterprises said it has achieved pre-sales of Rs 6,013 crore in FY24 and Rs 2,243 crore in the fourth quarter of FY24 the highest ever for both in terms of a quarter as well as financial year. Average sales realisation rose 23 per cent annually last fiscal year. "The residential business continued to drive sales growth, with all other verticals of the company contributing significantly and finishing strong in the financial year," Pavitra Shankar, Managing Director of Brigade Enterprises, said. The company has been able to achieve its best-ever operational performance last fiscal, she said. "we aim to leverage this performance in FY25. Our outlook is optimistic, as we believe demand fo
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Realty firm Brigade Enterprises Ltd on Monday said it will invest Rs 400 crore to build an office complex in Chennai. In a statement on Monday, Bengaluru-based Brigade Enterprises said it has entered into a Joint Development Agreement (JDA) with Agni Estates & Foundations Pvt Ltd to develop 'Brigade Tech Boulevard', a 'Grade A' office space on Pallavaram-Thoraipakkam Radial Road, in Chennai. "With an investment of around Rs 400 crore, the project will have a leasable area of 8.36 lakh square feet spread across two towers," it added. This will be the next commercial project launched by Brigade Group after the successful completion of the 'World Trade Centre' on OMR. Nirupa Shankar, Joint Managing Director, Brigade Enterprises, said, "Chennai is a diverse office market with demand from not only IT and ITeS sector but also from several other industry verticals including engineering, automotive and banking, etc." Offices that conform to sustainability, with seamlessly integrated ...
In the real estate segment, Brigade achieved its strongest performance ever for Q3 of a financial year with sales of 1.7 million square feet with a sale value of Rs 1,524 crore
Since November, the stock of the real estate company has zoomed 60 per cent as it had reported a strong operational performance for the September quarter (Q2FY24)
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Project estimated to yield revenue of Rs 2,100 crore on completion
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Under real estate, Brigade caters to both residential and commercial spaces. Brigade provides the largest commercial space in Bengaluru at 3.5 million square feet
With a robust pipeline of launches in Bengaluru, Chennai, and Hyderabad, the management is confident that the company will sustain the momentum going forward