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Brigade Enterprises added 10 million sq ft to its land bank in the June quarter, with an estimated revenue potential of INR 11,200 crore. The company continues to focus on Tier-1 southern markets Bengaluru, Chennai, and Hyderabad where it sees significant growth opportunities. While sales bookings improved in value terms due to higher realisations, booked volumes declined. The company also reported strong financial results with sharp profit growth and higher income. With a strong pipeline, Brigade remains focused on steady expansion in its core markets.
Brigade Enterprises has estimated revenue of INR 11,200 crore from 10 million sq ft of land it acquired in the June quarter. The company added these parcels across markets and sees strong development potential from them. The Executive Chairman informed analysts that Brigade continues to direct its attention towards Tier-1 cities in southern India. Advertisement
The Managing Director highlighted that Bengaluru, Chennai, and Hyderabad remain the company's focus, where it has a strong presence in business development. She also pointed out that there is considerable scope to expand in Chennai and Hyderabad, while Bengaluru remains a key market. She added that Brigade aims to meet its growth expectations by strengthening operations in these locations before considering new markets, although other markets are being studied.
The company has a healthy launch pipeline, supported by upcoming projects in key cities. According to its investor presentation, Brigade's sales bookings rose 3% to INR 1,118 crore in the first quarter of the current financial year, compared to INR 1,086 crore a year earlier. Booked volumes fell 17% to 9.49 lakh sq ft, down from 11.45 lakh sq ft, but realisations improved 24% to INR 11,782 per sq ft from INR 9,483 per sq ft.
Net profit for the quarter rose sharply by 79% to INR 149.88 crore, against INR 83.72 crore in the same period last year. Total income increased to INR 1,332.86 crore from INR 1,113.44 crore in the corresponding quarter of the previous year.
Established in 1986, Brigade is among India's leading real estate developers with projects in residential, commercial, and retail segments. The group also has a presence in the hospitality and education sectors. Its operations cover Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, and Gujarat's GIFT City.
Source PTI
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