Brigade Enterprises Surges 2% Following Agreement to Introduce InterContinental in Hyderabad

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Brigade Enterprises Surges 2% Following Agreement to Introduce InterContinental in Hyderabad

Team FS

25/Apr/2024

Key Points:

InterContinental Brand Expansion: Brigade Enterprises Limited experiences a 2% uptick in share price following the announcement of an agreement with IHG Hotels and Resorts to introduce the InterContinental brand in Telangana with the InterContinental Hyderabad Neopolis.
Property Details: The proposed property will feature 300 rooms, five dining options, two specialty restaurants, conferencing facilities, an outdoor recreation area, and a retail outlet, catering to the growing demand in Hyderabad's thriving sectors.
Strong Sales Performance: Brigade Enterprises witnesses a significant surge in sale bookings, with a 46% annual increase to Rs 6,013 crore in FY24, attributed to heightened demand for its housing projects. The company also achieves its highest-ever quarterly pre-sales of Rs 2,243 crore in Q4 FY24, indicating robust market traction.

Brigade Enterprises Limited witnessed a notable uptick of over 2% in its share price on April 25, following the announcement of a strategic partnership with IHG Hotels and Resorts to introduce the prestigious InterContinental brand in Telangana with the InterContinental Hyderabad Neopolis.

Expansion into Telangana
The agreement with IHG Hotels and Resorts marks a significant milestone for Brigade Enterprises as it ventures into Telangana's burgeoning hospitality market. The proposed InterContinental property is poised to offer a luxurious experience with 300 rooms, multiple dining options, conferencing facilities, and recreational amenities, catering to the evolving needs of Hyderabad's dynamic landscape.

Robust Sales Growth
In addition to its foray into the hospitality sector, Brigade Enterprises reports impressive sales performance in its real estate segment. The company witnessed a remarkable 46% annual increase in sale bookings, reaching Rs 6,013 crore in FY24, driven by robust demand for its housing projects. Notably, the fourth quarter of FY24 saw Brigade Enterprises achieve its highest-ever quarterly pre-sales of Rs 2,243 crore, reflecting strong market traction and consumer confidence.

Market Response and Future Outlook
The positive market response is further underscored by Brigade Enterprises' soaring share price, which has surged over 100% in the past year. With a strategic expansion into the hospitality sector and a strong foothold in real estate, Brigade Enterprises is well-positioned to capitalize on emerging opportunities and drive sustainable growth in the evolving Indian market landscape. As the company continues to innovate and expand its portfolio, investors remain optimistic about its future prospects and long-term value creation.

Also Read : Maruti Suzuki's Q4 Preview: Anticipates 50% Surge in Net Profit with Sales Boost from Increased SUV

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Brigade Enterprises Surges 2% Following Agreement to Introduce InterContinental in Hyderabad

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