Shares of Brigade Enterprises Ltd gained more than 3% on 7 March after the company announced the launch of Brigade Altius, a posh residential complex in Chennai’s Sholinganallur, an area recognized as the city’s IT powerhouse.

Among the tallest buildings in the region, the project spans 6.5 acres and features three majestic towers that rise 43 stories to a height of 143 meters each. Brigade Altius has a revenue potential of Rs 1,700 crore and seeks to revolutionize luxury living in Chennai.

The strategic location of the project ensures easy access to key business districts, which will assist professionals working in the busy IT corridor.

The apartments in Brigade Altius are unique in that they don’t share walls, giving residents greater privacy.  Adding to the building’s architectural charm is the sky bridge that connects the towers. Recreation, leisure, and wellness are also well-served by the 50,000 square feet of amenities.

Brigade Enterprises considers Chennai to be an important market for expansion. While Bengaluru continues to be the company’s top priority, Chennai is expected to overtake it as its second-largest market, with ambitions for growth in the retail, hospitality, commercial, and residential sectors, according to managing director Pavitra Shankar.

Pavitra Shankar added, “We have already delivered landmark projects like the World Trade Center Chennai and Brigade Icon on Mount Road. With Brigade Altius, we are further deepening our commitment to Chennai’s development.”

The company’s third-quarter net profit, which concluded on 31 December 2024, was Rs 236.2 crore, up 221.36% year-over-year (YoY) from Q3 FY24’s Rs 73.5 crore. 

At 11:37 am, the shares of Brigade Enterprises were trading 1.65% higher at Rs 974 on NSE.

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