Brigade Enterprises Ltd acquires 4.04 acres in Neopolis Phase 3 Auction

Brigade Enterprises Limited has acquired a 4.04 acres land parcel (Plot No. 20) in Neopolis Phase 3, Hyderabad. The acquisition was through an auction conducted by the Hyderabad Metropolitan Development Authority, at a consideration of Rs. 118 crore per acre. This follows the company's earlier acquisition in the same micro-market, which is now being developed as Brigade Gateway (Plot No. 8), Hyderabad. The move reinforces Brigade's strategic growth plans in the city.

"Hyderabad is a key market in our expansion strategy," said Amar Mysore, Executive Director, Brigade Enterprises Limited. "Around this time last year, we launched Brigade Gateway in Neopolis - a premium mixed-use development inspired by our iconic Bengaluru project, bringing together all key asset classes including Orion Mall, World Trade Center Hyderabad, a five-star deluxe InterContinental hotel, and high-end residences supported by a well-appointed clubhouse. With a robust pipeline of projects planned for Hyderabad, this acquisition underscores our commitment to investing in high-potential locations and delivering welldesigned, future-ready developments for discerning customers."

Shares of Brigade Enterprises Limited was last trading in BSE at Rs. 882.00 as compared to the previous close of Rs. 894.90. The total number of shares traded during the day was 623284 in over 3358 trades.

The stock hit an intraday high of Rs. 907.95 and intraday low of 878.95. The net turnover during the day was Rs. 550787367.00.

Source : Equity Bulls

Keywords

BrigadeEnterprises INE791I01019 Realty LandAcquisition NeopolisPhase3 Auction