Brigade Enterprises’ shares reached an all-time high, surging over 6% in early trade on November 17, after the real estate company announced its move to develop 2 million square feet in Bengaluru, valued at Rs 2,100 crore.
Shares of Brigade Enterprises soared to Rs 763, a 6.8% jump on the National Stock Exchange (NSE) from its previous closing price. At 1 pm, the stock was trading 3.37% higher at Rs 738.70.
According to a regulatory filing, Brigade Enterprises inked a joint development agreement (JDA) with Krishna Priya Estates and Micro Labs for a 14-acre residential project in Yelahanka, Bengaluru, with a gross development value (GDV) of Rs 2,100 crore.
The Bengaluru-based company plans to construct 2 million square feet of residential housing in Yelahanka. Pavitra Shankar, Managing Director of Brigade Enterprises, expressed the company’s commitment to quality and sustainability in the project.
Brigade Enterprises Limited, with a focus on real estate development and related services, operates in segments including Residential and Lease Rental. The company’s diverse portfolio spans multiple South Indian cities, including Chennai, Hyderabad, and Mysore.
As part of its expansion, Brigade Enterprises recently acquired a 9.71-acre land parcel in Hyderabad for Rs 660 crore. The company’s strategic acquisitions and ongoing projects contribute to its 13 million square feet project pipeline for the next year, of which 11 million square feet is from residential projects.