Brigade Enterprises PAT for Q3FY11 at Rs 58.12 cr, up by 880%

EBIDTA at Q3 Rs 94.28 crore, up 580% to Q3FY10

Q3 FY 2010 -11 Results (all comparisons with Q3 FY 2009 -10)

• Total income at Rs 144.23 crore, up by 121% from Rs 65.31 crore 
• EBIDTA at 94.28 crore, up by 580% from Rs 13.88 crore
• PBT at Rs 84.82 crore, up by 1573% from Rs 5.07 crore
• PAT at Rs 58.12 crore, up  from Rs 5.93 crore.
• EPS at Rs  5.18 per share for Q3 of FY 2010-11. 
• Sold 3.17 lakh square feet of  area  in Q3

Brigade Enterprises Limited, one of South India’s leading real estate developers, today announced the standalone unaudited results for the third quarter  ended December 31, 2010 (Q3).

The total income for Q3 FY10-11 stood at Rs  144.23 crore as compared to Rs 65.31 crore in Q3 FY09-10; an increase of 121%. EBIDTA for Q3 FY10 - 11 stood at Rs 94.28 crore; registering an increase of 580% as compared to Rs 13.88 crore in the corresponding period last year.

Profit Before Tax( PBT)  was at Rs.84.82 crore as compared to Rs. 5.07crore in Q3 FY09-10, an increase  by 1573%.

Profit After Tax (PAT) for Q3 FY 2010-11 improved to Rs 58.12 crore as against Rs 5.93 crore in Q3 FY 2009 -10, an increase of 880%. The earnings per share (EPS) for Q3 FY 2010 - 11 stood at Rs 5.18 per share.

Commenting on the Company’s performance for Q3FY10-11, Mr. M R Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited said, “Brigade Enterprises will continue to create shareholder value as has been our constant endeavor. Being at the forefront of real estate development in South India, Brigade will cater to the growing demands in the residential, commercial and hospitality sectors and continue to set new performance benchmarks and create landmarks.”

Highlights of the Quarter

• The sale of the hospital building at Brigade Gateway Project at Malleswaram-Rajajinagar, Bangalore, for a consideration of Rs. 127 crores was completed.
• The company has entered into a joint development agreement of 16.5 acres of land for development of 1.8 million sq.ft in Whitefield.
• The company has entered into a joint development agreement of 21 acres of land   at  Arcot Road, Chennai.
• The Sheraton Bangalore Hotel at Brigade Gateway will be operational by end of Q4 FY 2010-11
• The 8,00,000 sq.ft Orion Mall & Multiplex will be operational early  2011-12.
• Company is proposing to launch 25 projects aggregating to 9 million sq ft. in the next 6-12 months of which 75% will be residential and the remaining 25% a mix of commercial and hospitality projects.
• There is good  response to leasing  of Commercial space . 
• The total area sold during Q3 aggregated  3.71 lakh square feet.

Awards & Recognition:

1. The World Trade Center @ Brigade Gateway, Malleswaram Rajajinagar, Bangalore received “The Best Commercial Project in India” award at the Property World Awards 2010 ceremony held in Mumbai recently.

About Brigade Group Brigade Group is one of the leading real estate development companies in India. Brigade Enterprises Ltd, the flagship company of Brigade Group is primarily focussed on the development of residential, commercial & hospitality properties in South India. Our residential properties include integrated lifestyle enclaves & stnd alone apartments. Our integrated lifestyle enclaves are conceptualised as self-contained, gated communities, which generally include a combination of luxury apartments, office & retail space, recreational clubs, parks, schools, convention centres etc. Our commercial properties include a World Trade Center, state of the art office space, software & IT Parks, SEZs, Malls with multiplex. Our properties in the hospitality sector include serviced residences, hotels, spas, recreational clubs & convention centres in Bangalore & other parts of South India.

For more information, please visit BrigadeGroup.com or contact us at investors@brigadegroup.com