Brigade builds up steadily

Bangalore’s realty major Brigade Enterprises is firmly in the green, this Monday morning, up 3.7% at Rs. 137.90 per share, in line with the positive momentum seen across the broader markets. The share price has been rising from strength to strength since the morning opening. This realty company has announced a couple of updates, which have been cheered by the market.

Company has laid the foundation for a 212 keys 5 star hotel ‘Four Points by Sheraton’ in Kochi, Kerala, to be managed by Starwood Group. While the expected soft launch is September 2017, the hotel will primarily be a business hotel serving the needs of the infopark.

Another update pertains to the Bangalore project. Australian cricketing legend Steve Waugh has inaugurated a Sports Arena at the company’s 130 acre ongoing smart township project Brigade Orchids. The Sports Arena will host academies for several sports such as cricket, football, tennis, swimming, athletics by Steve Waugh’s company. Separately, company has also tied up with the legend’s Waughglobal.com, which will be a platform to connect NRIs/PIOs interested in investing in the company’s projects in South India with the company, to facilitate smoother transactions.

Thus, Brigade seems to be taking lead in new initiatives and projects, even when fears of slowdown and inventory pile-up dwell over the realty sector.