Brigade Enterprises signs JDA for premium residential project in Chennai; shares down over 28% this year

“The estimated Gross Development Value (GDV) of the project is ₹1,000 crore, and it is poised to deliver a premium residential project that caters to the city’s evolving urban aspirations,” Brigade Enterprises said in a regulatory filing.

Situated on a major arterial corridor, the site offers seamless connectivity to Chennai’s industrial and peripheral business districts, making it ideal for an integrated, future-ready community, the company stated.

The project will be developed by Brigade and will feature thoughtfully designed apartments, lifestyle amenities, and ESG-aligned infrastructure and is expected to be launched in 2026, subject to regulatory approvals, it added.

“Chennai is our second-largest market, and this joint venture is a key step in deepening our presence and expanding our portfolio in the city. Chennai's real estate market is on a strong growth trajectory, driven by robust infrastructure and sustained demand from both end-users and investors,” said Pavitra Shankar, Managing Director, Brigade Enterprises Limited.

“This new residential development reinforces our goal of securing marquee land parcels in prime locations to deliver integrated, high-quality projects that meet the demands of Chennai's discerning homebuyers,” Shankar further added.

Founded in 1986, Brigade Group is a leading Indian property developer with nearly four decades of expertise. It has built various projects in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, and GIFT City—across residential, office, retail, and hospitality sectors.

Last month, the real estate major had signed another JDA to develop a residential project in South Bengaluru with a gross development value of ₹1,200 crore.

On Monday, shares of Brigade Enterprises settled at ₹891 apiece on NSE, falling 0.64%.

In the last five trading sessions, the stock has lost 1.29% and nearly 17% over three months. It has declined 6% over a period of six months. On a year-to-date basis, it has slipped more than 28%.

While the scrip reached a year’s low of ₹852 on April 7, 2025, it touched a 52-week high of ₹1,419.70 per equity share almost a year ago on October 4, 2024.

Brigade Enterprises has a total market capitalisation of ₹21,783.44 crore as of October 6, 2025, according to data on the NSE.

The real estate development company had reported a 79% year-on-year (YoY) surge in its consolidated net profit to ₹149.88 crore in the June quarter of FY26, compared to ₹83.72 crore in the year-ago period.

Its revenue from operations stood at ₹1,281 crore during the quarter under review, marking an 18.9% YoY jump from ₹1,077 crore in the first quarter of FY25.