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Brigade Enterprises Limited reported ₹63.90 crore loss on a consolidated basis for the first quarter (Q1) of FY 2020-21 as against ₹46.46 crore profits recorded in the same period last year.
The company’s income was also lower by 70.17 per cent to ₹213.82 crore as against ₹716.99 crore in the same period last year. EPS for the quarter stood negative at ₹2.58 ( against ₹2.02).
Segment wise revenues of the company: Real estate ₹122.88 crore (₹555.04 crore), Hospitality ₹9.64 crore (₹75.95 crore), Leasing ₹76.74 crore (₹84.58 crore).
Commenting on the company's performance, M R Jaishankar, Chairman and Managing Director said: “While this quarter was impacted by Covid-19, our continued focus on digital marketing, online booking of apartments and collections have yielded results even though most of the Q1 was under lockdown. Despite the pandemic, our total collections for the quarter was ₹376 crore.”
“The rental collections from offices in the leasing segment is stable. Although the biggest impact has been in the hospitality and retail segment, all efforts are being taken to improve their performance and we are positive that these segments will normalize soon,” he added.
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