Brigade Enterprises Ltd announced the launch of Brigade Misty Greens, a new premium residential project in Mysuru with a revenue potential of over ₹300 crore. According to the latest disclosure to the National Stock Exchange and BSE Limited, the project will be developed on a 4.5-acre site under a joint development agreement. The development will comprise three-bedroom and four-bedroom apartments along with 14 duplex units, targeting both homebuyers and investors as part of the company's residential portfolio in southern India. The project is strategically located near the Jayachamaraja Wadiyar Golf Club and Chamundi Hills, providing views of greenery and hills while offering access to commercial hubs, educational institutions, healthcare facilities, malls, hotels and resorts.
As reported by CNBC TV18, Brigade Enterprises continues to expand its presence in Mysuru, where it has undertaken more than 26 residential, commercial and hospitality projects. Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, stated that Mysuru has been an important market for the company, making it the only listed player to have a strong presence in the city with over 26 projects across residential, commercial and hospitality sectors. She emphasized that Brigade Misty Greens is part of the company's strategy to develop residential communities in locations offering long-term value and marks another step in its growth plans. The latest disclosure consolidates the company's presence in one of South India's key real estate markets.
The latest project launch comes amid mixed market conditions, with Nifty slipping nearly 100 points to close at 24,238 following Friday's strong advance. As per HDFC Securities, the index opened 144 points lower due to sharp rise in crude prices and spent the early session in a tug of war between bulls and bears, with sellers controlling momentum through the first half. However, Nifty recovered more than 100 points from the day's low in the second half, helping limit the overall decline. Broader markets outperformed the benchmark, with Nifty Midcap 100 rising 0.60% and Nifty Smallcap 100 gaining 0.16%, while market breadth turned positive with the BSE advance-decline ratio at 1.10, indicating renewed buying interest in mid- and small-caps after recent profit booking.
