Shares of Brigade Enterprises Limited are trading flat after hitting a day’s high of Rs 1,015 on 30th July. This occurs even as the company announced that it has signed joint development agreements for two residential projects — Brigade Citadel 2 and Citadel 3 — in Moti Nagar, Hyderabad.

Brigade Enterprises announced that the two new projects follow its first phase, Brigade Citadel. They are situated in the same micro-market in Hyderabad.

The developments will span 1 million sq ft across 10 acres. Additionally, they have an estimated revenue potential of Rs 970 crore and will offer three and four-BHK homes.

Executive Director Amar Mysore said the expansion reflects the company’s focus on scalable growth in Hyderabad. Furthermore, he stated that the company will continue to seek land parcels that match its vision.

Last week, Brigade acquired a 20.19-acre land parcel in Bengaluru’s Whitefield–Hoskote corridor for Rs 588.33 crore. The planned project is valued at Rs 5,200 crore.

At 12:51 PM, the shares of Brigade Enterprises were trading 0.58% lower at Rs 1,003.10 on NSE.

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