Hot Pursuit     29-May-24
Brigade Ent jumps on reporting robust Q4 numbers
Brigade Enterprises rallied 3.43% to Rs 1,262.95 after the company reported consolidated net profit of Rs 206.09 crore in Q4 FY24, steeply higher than Rs 69.25 crore reported in Q4 FY23.

Revenue from operation surged 102.04% to Rs 1,702.37 crore in Q4 FY24 as compared to Rs 842.57 crore recorded in the corresponding quarter previous year.

Profit before tax has significantly grew from Rs 65.14 crore in Q4 FY23 to Rs 278.83 crore in Q4 FY24.

EBITDA stood at Rs 493 crore in the March quarter, up 112.96% from Rs 231.5 crore reported in Q4 FY23. EBITDA margin improved to Rs 28% in Q4 FY24 as against 27% registered in Q4 FY23.

The company’s revenue from real estate segment was at Rs 1,390 crore (up 143% YoY); income from leasing stood at Rs 247 crore (up 32% YoY)while revenue hospitality stood at Rs 112 crore (down 11.11% YoY) during the period under review.

Collections for Q4 FY24 stood at Rs 1,838 crore, up 25.63% as compared to Rs 1,463 crore in Q4 FY23.

On full year basis, the company’s consolidated net profit jumped 54.97% to Rs 451.61 crore on 42.16% rise in revenue to Rs 4,896.69 crore in FY24 over FY23.

Pavitra Shankar, managing director, Brigade Enterprises, said, “All verticals of the company contributed significantly to our growth in FY24 on the back of robust demand. With a strong pipeline of 22 million square feet (mn sft) of ongoing projects and around 16 Mn sft of upcoming projects, we are confident of sustained performance in the coming quarters as well. We continue to focus on Bengaluru, Chennai and Hyderabad for suitable land parcels that are at par with our quality standards and our consumer-first focus.”

Meanwhile, the company’s board has recommended a final dividend of Rs 2 per share for the financial year 2023-24, subject to approval of the shareholders.

Brigade Enterprises is one of India’s 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.

Previous News
  Brigade Enterprises Ltd Slips 5.39%
 ( Hot Pursuit - 09-Aug-23   09:45 )
  Brigade Enterprises reports consolidated net loss of Rs 40.09 crore in the June 2021 quarter
 ( Results - Announcements 05-Aug-21   16:59 )
  Board of Brigade Enterprises recommends final dividend
 ( Corporate News - 29-May-24   09:50 )
  Brigade Ent plans to invest Rs 8000 cr in Chennai by 2030
 ( Hot Pursuit - 12-Jun-24   14:54 )
  Brigade Group launches 50-acre township project in Bangalore
 ( Corporate News - 04-Mar-24   18:09 )
  Board of Brigade Enterprises recommends final dividend
 ( Corporate News - 27-May-23   18:11 )
  Brigade Enterprises launches residential project 'Brigade Sanctuary' in Bengaluru
 ( Corporate News - 01-Dec-23   19:43 )
  Brigade Enterprises reports consolidated net profit of Rs 78.36 crore in the December 2021 quarter
 ( Results - Announcements 04-Feb-22   08:14 )
  Brigade Ent to invest Rs 400 cr to develop office space in Chennai
 ( Hot Pursuit - 15-Apr-24   14:07 )
  Brigade Enterprises receives upgrade in credit ratings
 ( Corporate News - 17-May-23   15:23 )
  Volumes soar at Brigade Enterprises Ltd counter
 ( Hot Pursuit - 28-Jun-22   14:30 )
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