Brigade Enterprises touched a day’s high of Rs 572 on the NSE on Tuesday, after it announced a new residential project in Mysuru.

The project, called Brigade Misty Greens, will come up on a 4.5 acre plot through a joint development agreement. It will include three and four bedroom apartments along with 14 duplex units.

The site sits near the Jayachamaraja Wadiyar Golf Club and Chamundi Hills, with easy access to commercial areas, schools, hospitals and shopping centres in the city.

Brigade said the project is aimed at both homebuyers and investors, and adds to a residential portfolio the company has been building across southern India. This isn’t Brigade’s first project in the city though.

The company has now developed more than 26 residential, commercial and hospitality projects in Mysuru, which it says makes it the only listed developer with such a large footprint there.

Pavitra Shankar, Managing Director of Brigade Enterprises, said Mysuru has been ‘an important market for Brigade’ and that the new launch builds on that long-standing presence.

She added that the project fits into the company’s broader plan of developing homes in locations that hold long-term value. Brigade shares held onto their gains through the session.

At market close on 21 July, the stock settled at Rs 568.20 on the NSE, up 0.78% from the previous close of Rs 563.80. The stock has gained around 6% over the past month, though it remains down close to 15% for the year so far.

It is also well off its 52-week high of Rs 846.60, touched last July, while comfortably above its 52-week low of Rs 450.75 hit in March.

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