Brigade Enterprises surges on plan to invest Rs 250 crore on lease rental projects

29 May 2014

Brigade Enterprises is currently trading at Rs. 98.60, up by 1.90 points or 1.96% from its previous closing of Rs. 96.70 on the BSE.

The scrip opened at Rs. 97.00 and has touched a high and low of Rs. 100.00 and Rs. 95.45 respectively. So far 11884 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 109.70 on 26-May-2014 and a 52 week low of Rs. 45.10 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 109.70 and Rs. 90.00 respectively. The current market cap of the company is Rs. 1098.39 crore.

The promoters holding in the company stood at 57.67% while Institutions and Non-Institutions held 5.47% and 36.86% respectively.

Brigade Enterprises is planning to invest Rs 250 crore this fiscal with a focus on lease rental projects and increasing hospitality assets. The company, which partnered with InterContinental Hotels Group is planning to develop 20 Holiday Inn Express (budget) hotels in South India, has commenced construction of its first project in Bangalore. The hotel will have 275 keys and average spend on per room is around Rs 35 lakh.

Other projects of the company comprised Holiday Inn Express at Chennai, Grand Mercure in Mysore and Orion West mall at Banaswadi in Bangalore.

Brigade Hospitality Services currently has two properties operational in Bangalore -- Grand Mercure and Sheraton Towers -- with a total of 356 keys.

Brigade Enterprises is a flagship company of Brigade Group, which is one of South India's leading property developers. The company has completed 67 residential, commercial, retail and hospitality projects, covering over 6.74 million square feet of developable area.

Related Brigade Enterprises Ltd. Links:

Brigade Enterprises Share Price

286.05 -5.00 (-1.72%) Mar 05, 18:59
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Company Name CMP
Dilip Buildcon 669.40
NBCC (India) 50.85
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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