Brigade Group’s revenue increases by 21% & net profit increases by 32%
Bengaluru, August 8, 2017: Brigade Enterprises Limited’s Consolidated Revenues grew by 21% for the first quarter ended 30th June, 2017 to Rs.565 crores, as against Rs.466 crores recorded during the first quarter of the previous fiscal. The Consolidated Net Profit increased by 32 % to Rs. 29 crores from Rs. 22 crores in the first quarter of the previous fiscal.
Commentingon the company’s performance, Mr. M.R. Jaishankar, Chairman and ManagingDirector, Brigade Enterprises Limited, said “Despite subdued market conditions,we have continued to perform well. The positive disruptions in the market i.e.implementation of GST & RERA is a step in the right direction by thegovernment which will provide the necessary impetus for growth of the economy,which in turn will propel demand in the real estate sector. We areconfident of scaling up our performance in all domains of real estate that weoperate in.”
ConsolidatedQ1 Performance (Q1FY18 Vs Q1FY17)
- Total Revenues stood at Rs 565 crores vis-a-vis Rs 466 crores, an increase of 21%
- EBITDA stood at Rs. 136 crores vis-a-vis Rs. 125 crores, an increase of 9 %
- EBITDA margin stood at 24 % vis-à-vis 27 %
- PBT stood at Rs.44 crores vis-a-vis Rs. 34 crores, an increase of 29 %
- PAT stood at Rs.29 crores vis-a-vis Rs.22 crores, an increase of 32 %
StandaloneQ1 Performance (Q1FY18 Vs Q1FY17)
- Total Revenues stood at Rs.429 crores vis-a-vis Rs.407 crores, an increase of 5%
- EBITDA stood at Rs 118 crores vis-a-vis Rs. 117 crores, an increase of 1%
- EBITDA margin stood at 28% vis-à-vis 29%
- PAT stood at Rs. 36 crores vis-a-vis Rs. 26 crores, an increase by 38%
- Real Estate space aggregating to 0.31 million sq. ft with a total value of 183 crores was sold during the first quarter ending 30th June, 2017. The average price realisation was Rs. 5,863 per sq. ft.
- During the quarter, 3 Real Estate projects were launched – Brigade 7 Gardens, Brigade Buena Vista & Brigade Xanadu amounting to over 2 million sq. ft.
- During the quarter, Brigade Tech Gardens have started the construction with 3.3 million sq. ft of leasable area.
- Leasing and Hospitality segments contributed Rs. 71 crores and Rs.51 crores respectively to the consolidated revenues for the first quarter ended 30th June, 2017.
- The Debt Equity ratio of the Company on 30th June, 2017 is 0.66:1
- The Weighted average cost of debt as on 30th June, 2017 has reduced to 9.84% as compared to 10.39% as on 31st March, 2017.
The Companyraised Rs. 500 crores through a Qualified Institutional Placement in April,2017. The issue received a very good demand from both domestic institutionalinvestors and foreign institutional investors.Brigade Showcase 2017
The 10th editionof Brigade Showcase, the exclusive property exhibition was held on 5th and6th August, 2017 at the Sheraton Grand Hotel at BrigadeGateway. The event featured over 30 of the Group’s projects in South Indiaacross residential and office segments. The event was well received by thecustomers.
Launches tothe extent of 6.26 million sq. ft are planned for the next three quarters. This comprises of Residential space aggregating to 2.82 million sq ft,, Office& Retail space totalling to 3.01 million sq ft and Hospitality spaceof 0.43 million sq ft.
- Brigade has been recognized for being amongst the best in the Construction and Real Estate industry, at the Great Place To Work For 2017 Awards.
- Brigade Palmgrove, Mysuru won in the ‘Villas & Row Houses’ category at the CREDAI Karnataka’s CARE Awards 2017.
- Orion East won in the ‘Shopping Malls’ category at the CREDAI Karnataka’s CARE Awards 2017.
- Orion Mall won the Images Most Admired Shopping Centre of the Year: Metro South at the Images Shopping Centre Awards 2017
- Orion Mall won the Images Most Admired Shopping Centre of the Year: Marketing and Promotions-South at the Images Shopping Centre Awards 2017
- Orion Mall won the Images Most admired Shopping Centre of the Year: Best Sales Per Sq.ft-South at the Images Shopping Centre Awards 2017
Forinformation on Brigade Group, please visit BrigadeGroup.com or contact usat email@example.com