Brigade Group’s revenue for the first quarter of FY23 grew 135 per cent to ₹920 crore compared to ₹391 crore in June 2022.
Net profit stood at ₹65 crore against a loss of ₹86 crore in June 2022. The real estate company’s EBITDA saw a growth of 109 per cent to ₹250 crore (₹120 crore).
Bullish on momentum
“Demand continued to be robust, driven by strong sales in the residential sector during the quarter, leasing business picking up and hotels have also started performing well. We expect the momentum to carry on,” said MR Jaishankar, CMD, Brigade Enterprises Ltd.
During the quarter under review, the company registered new bookings of 1.2 million square feet valued at ₹814 crore corresponding to a growth of 61 per cent by area and 70 per cent by value over Q1 FY22 performance.
“Our projects in Hyderabad and Chennai continued to make significant contributions to the business. With all business verticals contributing, we are confident of substantial growth in the quarters to come,” Jaishankar added.