Brigade Enterprises shares surge 4% after Rs 1,700-crore Altius project launch in Chennai's IT corridor

Brigade Enterprises shares surged 3.8% to an intraday high of Rs 994.90 on the BSE on Friday after the realty firm launched Brigade Altius, a premium residential project in Sholinganallur, Chennai’s IT corridor.

Spanning 6.5 acres with a total development area of 1.4 million square feet, the project features three 43-floor towers, rising to approximately 143 metres, making it one of the tallest developments in the area.

With a revenue potential of Rs 1,700 crore, Brigade Altius is positioned as a landmark residential offering. Strategically located in Sholinganallur, it provides seamless connectivity to major business districts.


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The project offers panoramic city views and features apartments with no shared walls, ensuring complete privacy. The towers are connected by a sky bridge and include 50,000 square feet of amenities designed for a wide range of recreational needs.

Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said, "Our focus is on the three big South Indian markets of Bengaluru, Chennai and Hyderabad. Chennai is set to become our second-largest market after Bengaluru, and we aim to double our growth in the city across residential, commercial, retail and hospitality.”

She added, “We have developed the iconic World Trade Center Chennai and recently launched Brigade Icon on Mount Road, our most premium offering. With the launch of Brigade Altius, we continue to strengthen our presence and commitment to Chennai’s growth.”

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Brigade Enterprises shares target price

As per Trendlyne data, the average target price of the stock is Rs 1,453, which indicates an upside of 52% from the current market prices. The consensus recommendation from 12 analysts for the stock is a 'Strong Buy'.

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Brigade Enterprises shares performance

On Thursday, Brigade Enterprises shares closed at Rs 958.2, down 0.85% on the BSE. The stock has declined 27% over the past six months but gained 100% in the last two years. The company’s market capitalization stands at Rs 23,417 crore.

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