Shares of Brigade Enterprises Ltd surged 1.5% to touch a day’s high of Rs 915.80 on 7th October, after the company announced that it has entered into a joint development agreement (JDA) for a 6.6-acre land parcel in West Chennai, marking another strategic expansion in one of its key markets.

Brigade Enterprises’ new premium residential project in West Chennai has an estimated gross development value (GDV) of Rs 1,000 crore. Located along a major arterial corridor, it will offer connectivity to Chennai’s industrial and business districts.

The development will feature modern apartments, lifestyle amenities, and ESG-aligned infrastructure. It has a planned launch in 2026, subject to regulatory approvals. Brigade said the project is designed to meet the needs of Chennai’s urban homebuyers and investors seeking quality housing in well-connected locations.

Managing Director Pavitra Shankar stated that the venture aligns with Brigade’s strategy to expand its presence in Chennai. He noted that the city’s property market is on a strong growth path due to infrastructure improvements and robust demand.

The company has been growing its regional footprint through joint development agreements and land acquisitions. Over the past nine months, Brigade announced around 15 million square feet of new residential projects. Roughly 70% are in Bengaluru and the rest in Chennai and Hyderabad.

However, overall sales were down 15% year-over-year in the first half of FY26, reflecting sector-wide trends. The company remains optimistic about a rebound in the second half as project approvals progress.

At 12:46 PM, the shares of Brigade Enterprises were trading 1.44% higher at Rs 906.70 on NSE.

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