Brigade Group reported a total revenue of Rs 1,208 Crores and Profit After Tax of Rs 56 Crores in Q3 FY24. Net bookings in the real estate segment of Q3 FY24 is 1.7 mn sft with a sale value of Rs 1,524?Crores. Collections for Q3 FY24 stood at Rs 1,394 crores.
"We have witnessed healthy growth across our business verticals. The momentum in the Residential business continues to exhibit healthy growth both in terms of pricing as well as volume and continues to look positive with a strong pipeline of launches for Q4 FY24. Our Office segment recorded the best leasing quarter post-COVID and we are hopeful to finishing the financial year stronger. Furthermore, our Retail business has seen good leasing traction and Hospitality has seen improvements across the board," said Pavitra Shankar, Managing Director, Brigade Enterprises Ltd.
The company also announced that the Residential segment will witness launches of about 10.8 Mn sft with an estimated gross development value of around Rs 10,000 crores in the next four quarters. Furthermore, about 5 Mn sft of Office and Retail projects are planned to be launched in the next 4 quarters, The annualised exit rentals is estimated to be in the range of Rs 500 crores from these launches. Similarly, the Hospitality segment plans to commence construction of about 1,000 rooms across 4 projects in next 1 year. Achieved its strongest performance ever for Q3 of a Financial year with the sales of 1.7 Mn Sft with a sale value of Rs 1,524 Crores with absorption in
Bengaluru and Chennai. During the quarter, revenue stood at Rs 839 Crores which has grown by 50% compared to Q3 FY23 and EBITDA stood at Rs 73 Crores for the quarter.
In Q3 FY24, the Group leased 0.49 Mn sft (Including hard option), achieving 95% occupancy in the overall portfolio. During the quarter, revenue stood at Rs 247 Crores which has grown by 24% compared to Q3 FY23 and EBITDA stood at Rs 179 Crores.
In the Q3 FY24, Hospitality revenues have surged by an impressive 22% to Rs 123 Crores, ARR has shown a 7% increase, and occupancy has experienced an 5% rise compared to Q3 FY23. EBITDA Stood at Rs 45 Crores.
Revenue in Q3 FY24 stood at Rs 1,208 Crores as against Rs 859 Crores in Q3 FY23; Increase of 41%. EBITDA stood at Rs 296 Crores in Q3 FY24 as against Rs 246 Crores in Q3 FY23; Increase of 20%. PAT in Q3 FY24 stood at Rs 56 Crores as against Rs 43 Crores in Q3 FY23; Increase of 31%
