Brigade Enterprises Ltd posted 31 per cent lower profits at ₹41.14 crore on a consolidated basis for the third quarter (Q3) of FY 2019-20 as against ₹59.63 crore recorded in the same period last year.
The company’s income is also down by 18.52 per cent to ₹568.63 crore as against ₹697.93 crore in the same period last year. EPS for the quarter stood at ₹2.40 compared to ₹2.39 posted last year.
Segment-wise revenues of the company were: Real estate ₹369.39 crore (₹535.79 crore), Hospitality ₹92.96 crore (₹79.31 crore) and Leasing ₹96.04 crore (₹78.60 crore).
Commenting on the company’s performance, MR Jaishankar, Chairman and Managing Director, Brigade Enterprises, said, “The third quarter has been a robust quarter for the company. We have performed well across segments. We have recorded strong residential sales, leased commercial space to high- quality tenants and witnessed continued growth in our hotels across all geographies.”
He added, “Real estate space aggregating to 1.1 million sq ft was sold during Q3 FY20, which is 39 per cent higher when compared to Q3 FY19. The total value of space sold was ₹604 crore during Q3 FY20, which is 35 per cent higher when compared to Q3 FY19. Commercial space of about 0.9 million sq ft was leased during the quarter.”