Brigade Enterprises acquires acres land in Chennai

Brigade Enterprises reported in a BSE filing that it has paid Pfizer Healthcare India a total of Rs. 138.83 crore for a 6.54 acre parcel of land. The location is situated in Sholinganallur, Chennai, along Rajiv Gandhi Salai (Old Mahabalipuram Road).The corporation plans to erect a residential complex on this plot of land that will have a total construction area of more than one million square feet.In the quarter that ended on June 30, 2023, the company recorded a decline in net consolidated profit of 66.14 percent. The company said in a BSE filing that their profit after tax decreased from Rs 64.65 crore in the first quarter of the previous fiscal to Rs 21.89 crore in Q1 FY24.Its net consolidated total income for the first quarter of FY24 was Rs 685.43 crore, down 25.52 percent from Rs 920.28 crore for the same period the previous year.