Brigade Enterprises Limited Achieves New Bookings of 1.53 Mn Sft in Q3 FY23
Brigade Enterprises Limited posted a revenue of Rs 859 crores in Q3 FY23 with EBITDA of Rs 246 cores and PAT of Rs 43 crores. Collections continued to remain robust at Rs 1,328 crores in Q3FY23. “Real estate business achieved one of the highest ever sales and continued to be the primary growth driver, with good contributions from the Retail, Hospitality and Office verticals. We expect to sustain and grow the momentum in the coming quarters with a good pipeline of new residential projects, leasing business, and continued growth in the hospitality business to finish the year strong.” said Pavitra Shankar, Managing Director, Brigade Enterprises Ltd. The real estate business of the company achieved net new bookings of 1.53 mn sft valued at Rs 1010 crores in Q3 FY23. Collections for the quarter stood at Rs 936 crores. The company leased 0.3 mn sft for the quarter and leasing for 9MFY23 stands at 1 mn sft. Collections remained stable and demand is high across all properties. During Q3 FY23, there was a 27% growth on like-to-like sales consumption over pre-covid level across all our malls. ARR witnessed a growth of 58% and occupancy grew by 14% in Q3 FY23 over Q3 FY22. The revenue of the company was INR 101 crores during Q3 FY23, an increase of 61% from INR 63 crores in Q3 FY22. The EBITDA of INR 21 crores in Q3 FY23, an increase of 17% from INR 18 Crores in Q3 FY22. Revenue in Q3 FY23 stood at Rs 859 Crs as against Rs 933 Crs in Q3FY22; decrease of 8%. EBITDA stood at Rs 246 Crores in Q3 FY23 as against Rs 270 Crores in Q3 FY22; decrease by 9% PAT for Q3FY23 stood at Rs 43 Crores as compared to Rs 46 Crores in Q3 FY22. Real estate debt was reduced by Rs 77 Crores in Q3 FY23 with average cost of debt at 8.46%. During the quarter, the credit rating outlook has been upgraded to A+/Positive from A+/Stable by CRISIL and ICRA.
Tags : Brigade Enterprises Limited Pavitra Shankar Managing Director Brigade Enterprises Ltd business sales real estate revenue