The shares of the real estate developer gained up to 5 percent after the company signed a joint development agreement for a residential project worth Rs 1,100 crore.
With a market capitalization of Rs 32,357.86 crore, the shares of Brigade Enterprises Ltd were trading at Rs 1,400.15 per share, increasing around 3 percent as compared to the previous closing price of Rs 1,367.10 apiece.
Matter explanation:-
The company’s shares have seen positive movement after Brigade Enterprises Ltd signed a Joint Development Agreement for a residential project spread across 8 acres with a total development potential of around 1.2 million square feet. The Gross Development Value of the project is around Rs. 1100 crores.
The project, consisting primarily of two and three-bedroom apartments, has been planned to incorporate maximum lung space with lush green landscaping and a range of modern amenities. This project reflects Brigade’s ongoing planned investment in Bangalore’s real estate market, to meet the evolving needs of the dynamic urban homebuyer.
Financial performance:-
Looking forward to the company’s financial performance, revenue magnified significantly by 101 percent from Rs 843 crore in Q4FY23 to Rs 1,702 crore in Q4FY24, during the same time frame, net profit also magnified by 234 percent from Rs 63 crore to RS 211 crore.
Return & Achievement:-
Over the past six months, it has returned 51.57 percent, with a multi-bagger return of 147.04 percent in a year. A shareholder’s investment of Rs. 1 lakh in the firm is worth Rs. 2.47 lakh in a Year.
Brigade Enterprises has developed over 250 buildings amounting to 76+ million sq ft of space across residential, commercial, retail, hospitality, and education sectors.
Company Snapshot:-
Brigade Enterprises Limited specializes in real estate development, leasing, hospitality, and associated services. The company’s segments include Real Estate, Lease Rentals, and Hospitality. The Real Estate division is involved in the development of residential, commercial office, and mixed-use properties.
Written by:- Abhishek Singh
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