 "Brigade Enterprises Q2FY25 results: Reports 46% increase in sales value")
Bengaluru-based real estate developer Brigade Enterprises Limited reported a year-on-year (Y-o-Y) increase of 46 per cent in its sales for Q2FY25.
The company’s sales for the quarter stood at Rs 1,821 crore. However, its revenue declined by 19 per cent to Rs 1,138 crore.
It clocked a profit after tax (PAT) of Rs 115.1 crore during the quarter, up 2 per cent. Brigade Enterprises’ managing director, Pavitra Shankar, attributed the growth to “the company’s commitment to delivering high-quality residential spaces, coupled with a strong financial position and the robust demand for quality residential spaces.”
The company’s earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at Rs 358 crore, down 2 per cent Y-o-Y. However, its real estate collections stood at Rs 1,470 crore, the highest ever in a quarter.
Speaking about the company’s upcoming project pipeline, Shankar said, “In the real estate space, we have upcoming projects of approximately 13 million square feet over the next four quarters, including eight in Bengaluru, four in Chennai, one in Hyderabad, and two in Mysuru. We continue to have zero residential debt, primarily due to robust sales and collections. With a healthy pipeline, increasing demand, and steady interest rates, we are confident to carry forward momentum in future quarters.”
Additionally, the company’s wholly-owned subsidiary Brigade Hotel Ventures Limited filed a draft red herring prospectus (DRHP) on October 30 with the Securities and Exchange Board of India (Sebi) and relevant stock exchanges.