Shares of Brigade Enterprises experienced a nearly 1 percent surge in early trade on March 5, propelled by the announcement of its latest housing project, ‘Dioro,’ at Brigade El Dorado, spanning an impressive 6.1 million square feet.
As of 9:25 am, Brigade Enterprises was trading at Rs 1,002.35, marking an increase of Rs 4.85 or 0.49 percent on the BSE.
The company estimates the potential revenue value of the Dioro project, comprising 525 two-bedroom and three-bedroom units in two towers, to be around Rs 380 crore. Scheduled for completion by Q2 FY29, the development is part of a comprehensive township that offers over 80 amenities, including a hospital, a central park, a multiplex, and sports and retail facilities.
Brigade Group’s recent joint development agreement with PVP Ventures Ltd on February 21 to construct a high-rise residential project in Chennai, spanning 2.5 million square feet, further underscores the company’s expansion plans.
In its financial report for the quarter ending December, Brigade Enterprises revealed a substantial 31 percent increase in its consolidated net profit, reaching Rs 55.79 crore.
While the stock achieved a 52-week high of Rs 1,107.65 on February 7, 2024, and a 52-week low of Rs 446.00 on March 27, 2023, it is currently trading 9.51 percent below its peak and 124.74 percent above its lowest point.
