In the initial trading session on February 22, the stock price of Brigade Enterprises Limited surged by 5 percent to reach Rs 1,055. This increase followed the company’s announcement of signing a joint development agreement with PVP Ventures Limited to collaborate on a high-rise residential project spanning 2.5 million square feet in Perambur, Chennai.
Brigade Enterprises anticipates that this project holds a revenue potential of up to Rs 2,000 crore. According to the company, Bengaluru, Chennai, and Hyderabad are pivotal markets of focus, and this strategic expansion into the residential and hospitality sectors aligns with its comprehensive growth strategy.