Brigade Enterprises Q3 result: Net profit rises threefold to Rs 236 cr

Realty firm Brigade Enterprises on Wednesday reported a more than three-fold jump in its consolidated net profit to Rs 236.24 crore in the December quarter on strong demand for residential and commercial properties.

Its net profit stood at Rs 73.49 crore in the year-ago period.

Total income rose to Rs 1,529.68 crore in the October-December period of this fiscal from Rs 1,208.18 crore in the corresponding period of the preceding year, according to a regulatory filing.

Bengaluru-based Brigade Enterprises sale bookings rose 63 per cent to Rs 2,492 crore in the December quarter, a growth of 63 per cent compared to the year-ago period.

"We have observed robust growth across all our business verticals during the quarter. Growth in the residential business continues in terms of pricing and volume driven by the launches of premium projects and a strong pipeline of launches in the coming quarters," Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said.

She said the company's leasing efforts witnessed continued momentum with the demand driven by technology, engineering & manufacturing companies.

"We are also aggressively pursuing land acquisition opportunities in our target markets to add high-quality assets to our land bank," Shankar said.