Brigade Enterprises has posted 42.42 per cent higher profit at ₹45.59 crore for the third quarter of FY 2017-18 on unaudited consolidated basis against ₹32.01 crore recorded in the same period last year. Income from operations is lower by 24.21 per cent to ₹433.64 crore (₹572.16 crore). EPS stood at ₹3.60 against ₹2.66. Segment revenue: real estate ₹295.74 crore (last year ₹ 444.42 crore), hospitality ₹ 60.67 crore (₹49.73 crore), leasing ₹73.87 crore (₹68.79 crore).
Commenting on the company’s performance, Jaishankar CMD Brigade Enterprises said: “The third quarter witnessed encouraging sales on the strength of our focused marketing campaigns. The slew of reforms impacting the real estate business are slowly settling down. The turnover for the nine months was muted, as a result of fewer launches over the last three quarters. The sustained growth in profitability has been due to project closures in the year and its consequential positive impact on margins.”