Companies

Brigade Enterprises Q3 profit up 32%

Our Bureau Bengaluru | Updated on February 06, 2019 Published on February 06, 2019

Brigade Enterprises Ltd’s profits on a consolidated basis are higher by 31.79 per cent at ₹59.44 crore for the third quarter of FY19, as against ₹45.10 crore recorded in the same period last year.

The company’s income from operations is also higher by 60.95 per cent to ₹697.98 crore as against ₹433.64 crore in the same period last year. EPS for Q3 stood at ₹3.59 compared with ₹3.60 last year.

Residential sales aggregating to 0.78 million square feet with a total value of ₹446 crore was sold during Q3 FY19 which is 12 per cent higher as compared to Q2 FY19. The average price realisation was ₹5,741 per square feet.

Commenting on the company’s performance, MR Jaishankar, Chairman and Managing Director Brigade Enterprises, said: “Despite tough market and liquidity conditions that was prevalent in the third quarter, our residential sales bookings has been encouraging and has performed better than the previous quarters. In fact, sales bookings over the past nine months is significantly higher than the sales of the entire financial year 2018.”

Outlook

“The group is currently developing about 18.46 million square feet across residential, office, retail and hotel segments. Further, launches to the extent of about 9.04 million square feet are planned in the coming quarters across all segments,” said Jaishankar.

Published on February 06, 2019
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