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Brigade Enterprises Limited, propelled by robust residential sales, has posted ₹19.58 crore profit on consolidated basis for the fourth quarter (Q4) of 2020-21 against ₹11.02 crore-loss recorded in the same period last year.
The company’s income was higher by 27.39 per cent at ₹820.86 crore (₹644.34 crore).
The company's board recommended a final dividend of ₹1.20 per equity share (12 percent) of ₹10 each which is subject to approval of shareholders in the ensuing Annual General Meeting. The dividend will be paid within 30 days from the date of shareholders’ approval.
Segment revenues
Real estate ₹642.10 crore (last year ₹462.14 crore), hospitality ₹41.04 crore (₹81.39 crore) and leasing ₹118.36 crore (₹105.17 crore).
The company has disclosed that the figures for the quarter ended March 31, 2021 and corresponding quarter ended March 31, 2020 are the derived balancing figures between audited figures in respect of full financial year ended March 31, 2021 and March 31, 2020 respectively and the unaudited figures of nine months ended December 31, 2020 and December 31, 2019 respectively.
M R Jaishankar, CMD, Brigade Enterprises Limited, said, “Despite businesses taking a hit due to the Covid-19 pandemic, Brigade has witnessed robust sales driven by our residential business along with continued stability in the commercial business. Our residential projects in Hyderabad and Chennai continue to deliver consistently high results, along with our projects in Bengaluru. It is encouraging to end FY21 on a high note which we can safely attribute to customers continuing to trust Brigade for our quality and service. We hope the strong pipeline of our ongoing and upcoming projects, and favourable market conditions will help maintain the momentum in the coming months.”
High yearly sales
The company has reported an all-time high, yearly sales at 4.60 million square feet with a total value of ₹2,767 crore against ₹2,377 crore during the previous comparable period. The company also reported the highest ever pre-sales of 1.66 million square feet valued at ₹1,018 crore during Q4 FY21. Total collections during FY21 were reported at ₹2,712 crore compared to ₹2,538 crore during FY20 an increase of 7 percent, despite the impact of the pandemic. The average cost of debt is at an all-time low of 8.40 percent.
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