Brigade Enterprises rises on credit rating upgrade

Brigade Enterprises gained 1.42% to Rs 314.95 after credit rating agency, CRISIL Ratings upgraded its long term rating for the credit limits of the company from banks.

The long-term bank loan of the company worth Rs 350 crore was rated "CRISIL A+ /Stable" upgraded from "CRISIL A /Stable."

On a consolidated basis, Brigade Enterprises reported a net loss of Rs 85.89 crore in Q1 FY22 as against net loss of Rs 63.90 crore posted in Q1 FY21. Net sales soared 88.3% to Rs 382.79 crore in Q1 FY22 over Q1 FY21.

Brigade Enterprises is Brigade group's flagship company. Brigade group was established in 1986, with property development as its main focus.

 

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