Brigade Enterprises witnessed a nearly 1 percent increase in its shares during early trade on March 5th following the launch of the ‘Dioro’ project at Brigade El Dorado, spanning approximately 6.1 million square feet.
As of 10:46 am, Brigade Enterprises was trading at Rs 992.00 on the BSE, a marginal decline of Rs 8.00 or 0.80 percent.
The company estimates the potential revenue from the Dioro project, which comprises 525 two-bedroom and three-bedroom units in two towers, to be around Rs 380 crore.
Expected to be completed by Q2 FY29, the project is part of a township offering over 80 amenities, including a hospital, central park, multiplex, sports, and retail facilities.
Earlier, on February 21st, Brigade Group signed a joint development agreement with PVP Ventures Ltd for a 2.5 million square feet high-rise residential project in Chennai.
For the quarter ended December, the company reported a 31 percent increase in consolidated net profit to Rs 55.79 crore.
Brigade Enterprises’ stock has seen a 52-week high of Rs 1,107.65 and a low of Rs 446.00 on February 7, 2024, and March 27, 2023, respectively. Presently, the stock trades 9.51 percent below its 52-week high and 124.74 percent above its 52-week low.
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