Brigade Enterprises stock zooms: Shares of Brigade Enterprises rallied as much as 10.88 per cent to hit an intraday high of 1,246.80 per share on Tuesday, August 6, 2024.
The share price rose after the company reported a strong set of numbers in the June quarter of financial year 2025 (Q1FY25).
The company’s consolidated profit attributable to the owner rose 117.3 per cent year-on-year (Y-o-Y) to Rs 83.7 crore in the June quarter of FY25, from Rs 38.5 crore in the June quarter of FY24.
The revenue from operations, also known as topline, jumped 65 per cent Y-o-Y to Rs 1,077.7 crore in Q1FY25, from Rs 654 crore in Q1FY24.
At the operating front, earnings before interest, tax, depreciation and amortisation (Ebitda) surged 67.4 per cent annually to Rs 292.6 crore in Q1FY25, from Rs 174.8 crore in Q1FY24.
Consequently, Ebitda margin expanded 50 basis points (bps) to 27.2 per cent in the June quarter of FY25, from 26.7 per cent in the June quarter of FY24.
“Real estate segment continued to be the primary driver of our growth, while other segments made healthy contributions. We believe that our diverse portfolio will help us capitalise on emerging opportunities. We will be holding the 17th edition of our annual event Brigade Showcase from August 9-11, 2024. With the focus largely on sustainability, visitors can expect to learn about our eco-friendly practices, energy-efficient designs, and commitment to creating sustainable living spaces. It is an opportunity for prospective homebuyers to explore over 20 exceptional Brigade projects, including integrated townships, apartments, villas, and plots, ranging from Rs 49 lakh to Rs 21 crore in the cities of Bengaluru, Chennai and Hyderabad,” said Pavitra Shankar, Managing Director, Brigade Enterprises Ltd.
In a separate announcement, the company said, Brigade Group, through its wholly-owned subsidiary, Brigade Tetrarch Private Limited, has entered into a Limited Liability Partnership (LLP) agreement to develop a 1.4 million square feet leasable office space. The proposed commercial development is expected to generate an annual lease income close to Rs 100 crore per year, with an investment of close to Rs 750 crore.
The Brigade Group is among India’s leading property developers with over three decades of expertise in building positive experiences for all stakeholders.
Set up in 1986, the company has developed many landmark buildings and transformed the skyline of cities across South India, namely – Bengaluru, Mysuru, Hyderabad, Chennai and Kochi with developments across the Residential, Commercial, Retail, Hospitality and Education sectors.
Since inception, Brigade has completed over 275 buildings amounting to over 80 million sq. ft of developed space across a diverse real estate portfolio.
First Published: Aug 06 2024 | 12:42 PM IST
