Brigade Enterprises announces Rs 950-crore premium residential project; stock slips

Brigade Enterprises announces Rs 950 crore premium residential project

Shares of Brigade Enterprises were in focus on March 25 after the company announced a Rs 950-crore premium residential project in Whitefield, East Bengaluru.

Following the announcement, the stock of the company saw decline of 1.35 percent at Rs 980.3 at 12:00 pm. The shares had slipped 1.5 percent in early trading on Tuesday.

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The real estate developer has acquired a 4.4-acre land parcel, planning to develop 0.6 million square feet of premium residential space in one of Bengaluru’s most sought-after locations.

The project is expected to strengthen Brigade’s portfolio and capitalise on Whitefield’s strong infrastructure and connectivity, making it an attractive investment for homebuyers. Investors are closely watching the stock as the new development aligns with the company’s growth strategy in the luxury housing segment.

Reflecting on the deal, Pavitra Shankar, Managing Director of Brigade Enterprises, spoke, "This project will not only enhance our portfolio but also offer an exceptional living experience for our customers. Strategically, this land parcel aligns perfectly with our vision for premium residential development. With Whitefield’s prime location and robust infrastructure, we are confident this project will set new benchmarks in the segment."

In its Q3FY25 earnings, Brigade Enterprises had reported a threefold increase in net profit to Rs 236 crore, compared to the same period last year. The company’s revenue from operations surged 27 percent to Rs 1,530 crore, driven by strong sales momentum and expansion in leasing activity.

The sharp rise in profitability was attributed to the successful launch of premium projects, including Brigade Gateway Hyderabad, which contributed to the company’s strong growth trajectory. Additionally, EBITDA rose 62 percent year-on-year to Rs 479 crore, reflecting improved operational efficiencies and sustained demand for Brigade’s residential and commercial properties.