1600 per cent Multibagger return: This real estate company acquired land worth Rs 138,83,33,346!

Shares of the company have yielded a multibagger return of 244 per cent over the past three years

Brigade Enterprises Limited in its most recent filing to the exchange has announced the acquisition of a 6.54-acre land parcel situated at Rajiv Gandhi Salai (Old Mahabalipuram Road) in Sholinganallur, Chennai.

The land was purchased from Pfizer Healthcare India Private Limited for a total consideration of Rs 138,83,33,346 (One Hundred and Thirty-Eight Crores Eighty-Three Lakhs Thirty-Three Thousand Three Hundred and Forty-Six Rupees).

The company purchased this land with the intention to develop a residential project on this land, encompassing an expansive area of more than one million square feet.

The company's present market capitalization stands at Rs 13,604 crore. Its 52-week price range is between Rs 610.35 and Rs 430.95. The company's shares concluded the day at Rs 589.30 each on the BSE. Furthermore, it has yielded a multibagger return of 244 per cent over the past three years.

Established in 1986, Brigade Enterprises Ltd is a real estate developer located in Bengaluru, South India. The company has expanded its operational presence to other parts of India as well. With a focus on residential, office, retail, and hospitality sectors, Brigade has successfully completed the construction of over 250 buildings, totaling more than 70 million square feet of developed space across various cities including Bengaluru, Mysuru, Chennai, Ahmedabad, Hyderabad, and Kochi.

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