Rs 2100,00,00,000 GDV project: This multibagger construction company signs joint development agreement with Krishna Priya Estates Pvt Ltd and Micro Labs Ltd

The stock gave multibagger returns of 250 per cent in 3 years and a whopping 1,900 per cent in a decade.

Brigade Group has signed a Joint Development Agreement (JDA) with Krishna Priya Estates Pvt Ltd. and Micro Labs Ltd to develop around 2 million square feet of residential housing in Bengaluru with a Gross Development Value (GDV) of Rs 2100,00,00,000. Located in Yelahanka in North Bengaluru and spread over 14 acres, the JDA will add to Brigade Group’s residential portfolio in the city. Yelahanka is a very fast-growing residential hub in Bengaluru, with excellent infrastructure in place and great connectivity.

Brigade Group has a strong pipeline over the next year, of around 13 million square feet in Bengaluru, Hyderabad, and Chennai, of which 11 million square feet is from residential projects.

Today, shares of Brigade Enterprises Ltd gained 6.82 per cent and reached an intraday high & 52-week high of Rs 762.70 per share. At the closing bell, shares of the company were trading at Rs 738.25 per share, up 3.4 per cent and spurt in volume by more than 1.57 times on BSE.

Brigade Enterprises Ltd was established in 1986. It is a real estate developer in South India, based in Bengaluru, and expanding its area of operations in other parts of India. It has completed over 250 buildings aggregating to over 70 million sq. ft of developed space in residential, offices, retail, and hospitality sectors across Bengaluru and Mysuru, Chennai, Ahmedabad, Hyderabad, Kochi 

The company has a market cap of over Rs 17,000 crore and reported excellent numbers in its Quarterly Results and annual results. The stock gave multibagger returns of 250 per cent in 3 years and a whopping 1,900 per cent in a decade. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.