Brigade Group‘s Q2 PAT increases by 38%

Bangalore, November 10, 2017: Brigade Enterprises Limited’s Consolidated Revenues for 3 months ended 30th September, 2017 was Rs. 500 crores, up from Rs.459 crores recorded during corresponding 3 months in the previous year, an increase of 9%. The Consolidated Net Profits stood at Rs. 42 crores as against Rs. 30 crores, up by 38%.

TheConsolidated Revenues for 6 months ended 30th September, 2017was Rs. 1,064 crores up from Rs.926 crores recorded during corresponding 6months in the previous year, an increase of 15%.  The Consolidated NetProfits for 6 months ended 30th September, 2017 stood at Rs. 71crores as against Rs. 52 crores for the corresponding period in the previousyear, up by 36%     Commenting on the company’s performance, Mr. M.R. Jaishankar, Chairman andManaging Director  Brigade Enterprises Limited  said:”  Thegrowth  in  consolidated  revenues and profits reflectsthe   strong array of projects that the Group is marketing. This isdespite the challenging market conditions and significant change in Regulations.Our sales has seen marginal increase in both volume and value. We are confidentthat the coming quarters will witness improved performance.” 

FINANCIALHIGHLIGHTSConsolidated Q2FY18 Vs Q2 FY17 Performance

  • Total Revenues stood at Rs. 500 crores vis-a-vis Rs. 459 crores, an increase of 9%
  • EBITDA stood at Rs. 149 crores vis-a-vis Rs. 138 crores, an increase of 8%.
  • EBITDA margin was maintained at 30%.
  • PBT stood at Rs. 56 crores vis-a-vis Rs. 46 crores, an increase of 22 %.
  • PAT stood at Rs. 42 crores vis-a-vis Rs. 30 crores, an increase of 38%.

Consolidated H1 Performance (H1 FY18 Vs H1 FY17):

Total Revenues stood at Rs. 1,064 crores vis-a-vis Rs. 926 crores, an increase of 15 %

  • EBITDA stood at Rs.285 crores vis-a-vis Rs. 262 crores, an increase of 9%.
  • EBITDA margin stood at 27% vis-à-vis 28%.
  • PBT stood at Rs.100 crores vis-a-vis Rs. 80 crores, an increase by 24%.
  • PAT stood at Rs. 71 crores vis-a-vis Rs. 52 crores, an increase by 36%.

ConsolidatedOperational Performance

  • Real Estate space aggregating to 0.37 million sq. ft. with a total value of 217 crores was sold during the second quarter ending 30th September, 2017. The average price realisation was Rs. 5,916 per sq. ft.
  • Leasing and Hospitality segments contributed Rs. 68 crores and Rs. 56 crores respectively to the consolidated revenues for the second quarter ended 30thSeptember, 2017.
  • The Debt Equity ratio of the Company as on 30th September, 2017 is 71: 1. Credit rating of "A" has been assigned by both CRISIL and ICRA.

OUTLOOK

BrigadeGroup is currently developing about 21 million Sq. ft across Residential,Office, Retail and Hotel segments. Further, launches to the extent of about 6million Sq. ft. are planned for the next two quarters across the 4 segments.


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