The company will be developing a residential project on the land parcel with an overall development of nearly one million square feet with an overall revenue potential of around Rs 800 crore.
ICICI Direct is bullish on Brigade Enterprises recommended buy rating on the stock with a target price of Rs 745 in its research report dated August 31, 2023.
The 6.54 acres land parcel is located at Rajiv Gandhi Salai (Old Mahabalipuram Road), Sholinganallur, Chennai and will be used for a residential project.
Top ten Indian real estate firms by market capitalisation have given 9 -45 percent in the last year, indicating that unlike the US, there is optimism in Indian realty market
ICICI Direct is bullish on Brigade Enterprises recommended buy rating on the stock with a target price of Rs 695 in its research report dated August 10, 2023.
HDFC Securities is bullish on Brigade Enterprises has recommended buy rating on the stock with a target price of Rs 739 in its research report dated August 09, 2023.
Motilal Oswal is bullish on Brigade Enterprises recommended buy rating on the stock with a target price of Rs 720 in its research report dated August 09, 2023.
The real-estate company's revenue also fell 21 percent year-on-year to Rs 685 crore in Q1FY24. Meanwhile, its net sales from residential projects rose 33 percent YoY to Rs 991 crore in the same period.