Brigade Enterprises drops after Wednesday's rally

Meanwhile, the S&P BSE Sensex was down 4.89 points or 0.02% at 19,985.29.

On BSE, 38,000 shares were traded in the counter as against average daily volume of lakh 26,239 shares in the past one quarter.

The stock hit a high of Rs 79.45 and a low of Rs 76.90 so far during the day. The stock had hit a 52-week low of Rs 45 on 23 May 2012. The stock had hit a 52-week high of Rs 112.60 on 19 December 2012.

The stock had outperformed the market over the past one month till 8 May 2013, jumping 24.42% compared with the Sensex's 8.42% surge. The scrip had, however, underperformed the market in past one quarter, declining 1.64% as against Sensex's 2.59% rise.

The small-cap real estate firm has equity capital of Rs 112.25 crore. Face value per share is Rs 10.

Shares of Brigade Enterprises had rallied 6.83% to settle at Rs 78.20 on Wednesday, 8 May 2013, after the company after market hours on Tuesday, 7 May 2013 reported stellar Q4 March 2013 earnings.

Brigade Enterprises' net profit jumped 253.5% to Rs 28.39 crore on 157.4% growth in net sales to Rs 270.01 crore in Q4 March 2013 over Q4 March 2012. Earnings before interest, taxation, depreciation and amortization (EBITDA) surged 143.24% to Rs 72 crore in Q4 March 2013 over Q4 March 2012. EBITDA margin improved 200 basis points year-on-year at 24% in Q4 March 2013.

Retail and Hospitality segments contributed Rs 28.20 crore and Rs 32 crore respectively to the revenue in Q4 March 2013, Brigade Enterprises said in a statement.

Residential space aggregating to 0.54 million square feet (sq. ft) aggregating Rs 232.20 crore was sold in Q4 March 2013. The average price realization was Rs 4,324 per sq. ft, Brigade Enterprises said in a statement.

Brigade Enterprises said it launched projects of 1.80 million sq. ft space during Q4 March 2013. This comprises of 0.6 million sq. ft of residential space and 1.2 million sq. ft of commercial space, Brigade Enterprises said in a statement.

Brigade Enterprises' net profit rose 10.6% to Rs 64.25 crore on 17.3% growth in net sales to Rs 670.88 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012). EBITDA rose 20.97% to Rs 215.10 crore in FY 2013 over FY 2012. EBITDA margin stood at 27% in FY 2013, as against 29% in FY 2012.

On consolidated basis, Brigade Enterprises' net profit rose 7.6% to Rs 61.27 crore on 17.6% growth in net sales to Rs 719.05 crore in FY 2013 over FY 2012.

Brigade Enterprises said it launched projects of 4 million sq. ft space in FY 2013. This consists of 2.24 million sq. ft of residential space and 1.76 million sq. ft of commercial space, Brigade Enterprises said in a statement.

Brigade Enterprises said that 8 million sq. ft of new project launches are planned in FY 2014. Of this, residential launches will be about 6.70 million sq. ft and commercial space will be 1.30 million sq. ft, Brigade Enterprises said in a statement.

Bangalore-based realty developer Brigade Enterprises has presence in residential, commercial and retail segments.

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