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Revenue recognition from big projects has boosted Brigade Enterprises’ profitability. The company on a standalone basis for the fourth quarter of 2013-14 has posted 73.41 per cent higher profit at ₹49.25 crore against ₹28.40 crore during the same period last year.
Total income is also higher by 29.43 per cent at ₹386.51 crore against ₹298.61 crore recorded last year. EPS (basic) stood at ₹4.38 (last year ₹2.55).
Commenting on the company’s performance, MR Jaishankar, Chairman and Managing Director, said 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.”
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