Brigade Enterprises gains 5% on plans for a 2 million square foot development in Bengaluru.
Brigade Enterprises’ stock rose 5% in early trading on November 17 as the company announced intentions to develop 2 million square feet in Bengaluru. The plan’s gross development value is Rs 2,100 crore. At 10:10 a.m., the stock was trading at Rs 748.50, up 4.74 percent.
Brigade Enterprises stated in a regulatory filing on November 17 that Brigade Group had signed a Joint Development Agreement (JDA) with Krishna Priya Estates and Micro Labs to develop approximately 2 million square feet of residential housing in Bengaluru with a gross development value (GDV) of Rs 2,100 crore. According to the statement, the JDA would add to Brigade Group’s residential portfolio and will be located in Yelahanka in North Bengaluru
Brigade Enterprises, situated in Bangalore, recorded a growth in net profit to Rs 112.5 crore in Q2FY24, up from Rs 51.8 crore the previous year. Revenue during the quarter increased by 55% to Rs 1,366.6 crore from Rs 879 crore in Q2FY23.
Brigade Enterprises, situated in Bangalore, recorded a growth in net profit to Rs 112.5 crore in Q2FY24, up from Rs 51.8 crore the previous year. Revenue during the quarter increased by 55% to Rs 1,366.6 crore from Rs 879 crore in Q2FY23.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 50% to Rs 324.8 crore during the same time period.
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Sagar Biswas
I am a Journalist, Youtuber and I have completed my Postgraduate Diploma in Journalism and Mass Communication I manage more than 2+ Blog and 1 YouTube channel I live in Karnataka