Realty firm Brigade Enterprises Ltd has acquired a 6.54-acre land parcel in Chennai from Pfizer Healthcare India for nearly Rs 139 crore to develop a residential project. The company has entered into a sale deed on Monday for acquiring 6.54 acres of land parcel located at Rajiv Gandhi Salai (Old Mahabalipuram Road), Sholinganallur, Chennai. In a regulatory filing on Tuesday, Brigade Enterprises said “6.54 acres of land parcel…was acquired from Pfizer Healthcare India Pvt Ltd for an overall consideration of Rs 138.83.” “We will be developing a residential project on this land parcel with an overall development of over one million square foot,” it added. Brigade Enterprises recently reported a 56 per cent decline in its consolidated net profit at Rs 38.53 crore for the first quarter of this fiscal year. Its net profit stood at Rs 87.68 crore in the year-ago period. Total income also fell to Rs 685.43 crore in the April-June period of 2023-24 fiscal, from Rs 920.28 crore in the corresponding period of the previous year. Brigade Enterprises has developed many residential, commercial (office and retail) and hotel projects across South India in the cities of Bengaluru, Mysuru, Hyderabad, Chennai and Kochi.CAG report alleges underpayment of excise duty in Uttar Pradesh by Radico KhaitanGlenmark settles drug pricing case with US Department of JusticeFootwear sector sees 11% revenue growth, 4% rise in volume: CRISIL RatingsOnline Rakhi sellers make way in tier 2 and tier 3 cities as wellJio may launch fixed wireless access device for retail users at 20% discount to market ratesHonda to hike City, Amaze prices from SeptemberIndians still not preferring high-value FMCG products, pick smaller packs instead: ReportIndia’s banking system liquidity slips into deficit first time in FY24View: India sees a shadow-banking boom despite China’s funkTata sees demand for its anti-microbial steel in global market