Real estate major Brigade Enterprises Limited has reported the highest presales in a fiscal year, with ₹6,013 crore in FY24 and ₹2,243 crore in Q4.
The real estate sales volume reached 7.55 million sft. in FY24, with the average realisation increasing by 23 per cent over the previous year. Collections across the group have grown 9 per cent to ₹5,915 crore from ₹5,424 crore in FY23.
Under the operational leasing portfolio, leasing grew by 14 per cent year-on-year (YoY) with 1 million sft. of additional area leased over FY23, achieving 97 per cent occupancy overall.
In the hospitality vertical, average occupancy was 72 per cent and annual recurring revenue (ARR) was around ₹6,480, which recorded around 8 per cent growth.
In FY24, Brigade also launched 5.26 million sft. in the residential sector and 0.94 million sft. in the commercial vertical.
Buoyant residential biz
“The residential business continued to drive sales growth, with all other verticals of the company contributing significantly and finishing strong in the financial year. This year, we have been able to achieve our best ever operational performance, and we aim to leverage this performance in FY25.” commented Pavitra Shankar, Managing Director, Brigade Enterprises Limited, on the company’s performance.
Brigade Group has new launches in the pipeline, including 12.61 million sft. in residential, 6.33 million sft. in commercial and 1.06 million sft. in hospitality space.
The company expects continued demand for residential space and pursuing land acquisition opportunities in their target markets.
(inputs from bl intern Vidushi Nautiyal)