Brigade Enterprises up 2% on deal to bring InterContinental to Hyderabad

Brigade Enterprises share price has soared over 100 percent in the last year.

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26 Aug, 2025 12:21

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Shares of Brigade Enterprises Limited saw an uptick of over 2 percent to Rs 1,044 in the afternoon on April 25 after the company announced the signing of an agreement with IHG Hotels and Resorts to launch the InterContinental brand in Telangana with InterContinental Hyderabad Neopolis.

The property is proposed to have 300 rooms with five dining options, two specialty restaurants, and a lobby lounge. The hotel is also proposed to offer conferencing facilities, an outdoor recreation area and a retail outlet.

"Hyderabad is gaining prominence as one of the best cities in the country with the upcoming IT sector, global retail presence, and heavy industries. This can present an appealing opportunity for us," IHG Hotels said.

The Bengaluru-based real estate developer saw a significant uptick in its sale bookings, with a 46 percent annual increase to reach Rs 6,013 crore in FY24. This growth was primarily driven by heightened demand for its housing projects. The company achieved pre-sales of Rs 2,243 crore in the fourth quarter of FY24, marking its highest-ever quarterly performance.

Company data showed that real estate sales volumes were 7.55 million square feet in FY24, with 2.72 million square feet sold in the fourth quarter alone. The average realisation for FY24 saw a notable annual increase of 23 percent. Moreover, the company disclosed that collections across the group for FY24 amounted to Rs 5,915 crore, compared to Rs 5,424 crore in FY23.

Brigade Enterprises share price has soared over 100 percent in the last year.