Goyal will be relieved from the services from the closing business hours of 16 February 2024.

Further, the company said that it will take steps to appoint a new CFO and the same will be communicated to the stakeholders in due course. Pavitra Shankar will oversee the finance function apart from her role as managing director of the company, it added.

Brigade Enterprises is the flagship company of the Brigade group and is one of the largest real estate players in South India. Till date, it has developed over 300 lakh sq. ft, 80% of which has been in the residential segment. Though it mainly focuses on the Bengaluru market, Chennai is emerging as the second large market for the entity. The group has developed projects in Mysuru, Cochin, Chennai, Hyderabad, and Ahmedabad.

The real estate company’s consolidated net profit surged 72.08% to Rs 133.50 crore on 55.43% jump in revenue from operatins to Rs 1,366.58 crore in Q2 FY24 over Q2 FY23.

Shares of Brigade Enterprises rose 0.19% to settle at Rs 867 on Friday, 22 December 2023.

The stock exchanges will remain closed on Monday, 25 December 2023, on the occasion of Christmas.