This Mid-cap Company Towering New Project Promises Rs 1,700 Crore Revenue in Chennai - Details Inside!
With a PE ratio of 36.1x, the company trades at a premium compared to the industry PE of 29.4x.
On Friday, shares of Brigade Enterprises Ltd jumped by 2.6 per cent to Rs 983. The company has launched a new premium residential project, Brigade Altius, in Chennai. The development is located in Sholinganallur, a key area within Chennai's bustling IT corridor, and covers 6.5 acres with a total development area of 1.4 million square feet. Brigade Altius comprises three signature towers, each rising to 43 floors and approximately 143 meters, making it one of the tallest residential projects in the region. The project is expected to generate a revenue potential of Rs 1,700 crores.
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Brigade Altius is designed to offer luxury living with unique features such as apartments with no shared walls, ensuring privacy for residents. The towers are connected by a skybridge and include 50,000 square feet of amenities, catering to a variety of recreational needs. The project is a significant addition to Brigade Group's portfolio in Chennai, following other notable developments like the World Trade Center Chennai and Brigade Icon on Mount Road. The company aims to expand its presence in Chennai, targeting growth across residential, commercial, retail, and hospitality sectors.
About Company
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 mn. sqft of developed space in residential, offices, retail, and hospitality sectors across Bengaluru and Mysuru, Chennai, Ahmedabad, Hyderabad, Kochi
The company's current stock price is Rs 983, with a market capitalisation of Rs 24,026 crores. Over the past three years, the stock has delivered a return of 102.17 per cent, qualifying it as a multibagger stock. The 52-week high and low for the stock are Rs 1,451.9 and Rs 826.3, respectively. With a PE ratio of 36.1x, Brigade Enterprises continues to focus on expanding its footprint in the real estate sector, offering developments across residential, office, retail, and hotel segments.
With a PE ratio of 36.1x, the company trades at a premium compared to the industry PE of 29.4x. The company has ROCE of 12.7 per cent and ROE of 11.7 per cent. The company has been maintaining a healthy dividend payout of 22.6 per cent.
Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.