Brigade Enterprises to Develop Third World Trade Center at Kochi’s Infopark; Shares Surge 4%

Brigade Enterprises

Brigade Enterprises’ share price rose by 4 percent following the company’s agreement to develop a third tower of the World Trade Center (WTC) at Infopark Kochi. As of 09:19 AM, Brigade Enterprises was trading at Rs 1,372.05, an increase of Rs 52.95, or 4.01 percent, on the BSE. The company signed a land lease agreement on June 19, and the project is expected to be completed within three years.

Brigade Group will develop the Rs 150 crore project, which will have 2.6 lakh square feet of built-up area. The new tower will consist of 16 storeys with a car park spanning six decks. On June 12, the company announced plans to invest Rs 8,000 crore in Chennai by 2030 to expand its business.

The company also revealed the opening of Brigade Icon Residences, a new addition to their upscale mixed-use building projects in Chennai. The residences will have a Gross Development Value (GDV) of approximately Rs 1,800 crore. On June 10, 2024, the stock hit a 52-week high of Rs 1,437.00, and on July 6, 2023, it hit a 52-week low of Rs 550.40. At the moment, the stock is 4.52 percent below its 52-week high and 149.28 percent above its 52-week low.

Furthermore, Brigade Enterprises is developing Brigade Square in Thiruvananthapuram, a Grade A office building situated in Technopark Phase 1. Brigade Group holds the license for six World Trade Centers (WTCs) in South India, located in Bengaluru, Chennai, Kochi, Hyderabad, Trivandrum and Devanahalli. Over the past 38 years, Brigade Group has completed approximately 300 buildings and developed around 90 million square feet across its diverse portfolio.

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