Brigade Ent jumps on reporting stellar Q4 outcome

Brigade Enterprises jumped 5.05% to Rs 1,181.15 after the company's consolidated net profit surged 117.29% of Rs 83.72 crore in Q1 FY25 as compared with Rs 38.53 crore reported in Q1 FY24.

Revenue from operation jumped 64.8% year on year (YoY) to Rs 1,077.72 crore in the quarter ended 30 June 2024.

Profit before tax stood at Rs 108.44 crore in June 2024 quarter, significantly higher from Rs 30.04 crore posted in same quarter last year.

The companys revenue from real estate segment was at Rs 707.20 crore (up 105.28% YoY); income from leasing stood at Rs 259.42 crore (up 23.35% YoY) while revenue hospitality stood at Rs 118.03 crore (up 11.79% YoY) during the period under review.

EBITDA stood at Rs 328 crore in the first quarter of 2024. Pre-sales bookings in the real estate segment of Q1 FY25 stood at 1.15 million sft, with a sale value of Rs 1,086 crore. Average realisation stood at Rs 9,483 per sft.

Pavitra Shankar, managing director, Brigade Enterprises, said, Real estate segment continued to be the primary driver of our growth, while other segments made healthy contributions. We believe that our diverse portfolio will help us capitalize on emerging opportunities. We will be holding the 17th edition of our annual event Brigade Showcase from the 9 to 11 August 2024.

With the focus largely on sustainability, visitors can expect to learn about our eco-friendly practices, energy-efficient designs, and commitment to creating sustainable living spaces. It is an opportunity for prospective homebuyers to explore over 20 exceptional Brigade projects, including integrated townships, apartments, villas, and plots, ranging from Rs. 49 lakhs to Rs. 21 crores in the cities of Bengaluru, Chennai and Hyderabad.

Meanwhile, Brigade Group, through its wholly owned subsidiary, Brigade Tetrarch, has entered into a Limited Liability Partnership (LLP) agreement to develop a 1.4 million square feet leasable office space. The proposed commercial development is expected to generate an annual lease income close to Rs 100 crore per year, with an investment of close to Rs 750 crore.

Brigade Enterprises is one of Indias leading property developers. The company has developed properties in cities like Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.

Powered by Capital Market - Live News