Brigade Enterprises rose 4.93% to Rs 80.95 at 11:24 IST on BSE after net profit rose 73.42% to Rs 49.25 crore on 27.81% rise in net sales to Rs 345.11 crore in Q4 March 2014 over Q4 March 2013.
The company announced the result after market hours on Wednesday, 8 May 2014.
Meanwhile, the BSE Sensex was up 69.89 points, or 0.31%, to 22,393.79.
On BSE, so far 1.42 lakh shares were traded in the counter, compared with an average volume of 21,524 shares in the past one quarter.
The stock hit a high of Rs 84.65 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 80.55 so far during the day. The stock hit a 52-week low of Rs 45.10 on 7 August 2013.
The stock had outperformed the market over the past one month till 7 May 2014, rising 15.49% compared with the Sensex's 0.09% fall. The scrip had also outperformed the market in past one quarter, rising 36.43% as against Sensex's 9.56% rise.
The small-cap company has an equity capital of Rs 112.25 crore. Face value per share is Rs 10.
Brigade Enterprises' net profit rose 39.77% to Rs 89.80 crore on 10.87% rise in net sales to Rs 743.80 crore in the year ended March 2014 over the year ended March 2013.
The company's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 25% to Rs 269.40 crore in the year ended March 2014 over the year ended March 2013. EBITDA margin stood at 29% in the year ended March 2014, compared with 27% in the year ended March 2013.
Commenting on the company's performance, M. R. Jaishankar, Chairman and Managing Director, Brigade Enterprises, said that the growth recorded during the fiscal 2013-14 was a result of the combination of good sales in ongoing residential projects and sale of commercial spaces coupled with few big projects which have come for revenue recognition in the fourth quarter.
Explaining the future outlook for the company, Jaishankar said that Brigade Group plans to launch 10 million square feet in FY 2014-15. Of this, residential launches would be about 7 million square feet, commercial office space - 2 million square feet and hospitality would be 1 million square feet.
The debt equity ratio of the company as on 31 March 2014 is at 0.66:1.
Bangalore-based realty developer Brigade Enterprises has presence in residential, commercial and retail segments.
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