Bengaluru-based property developer Brigade Enterprises reported a 62 per cent increase in consolidated revenue, including other income, totalling ₹1,113 crore for Q1 FY25, compared with ₹685.43 crore in Q1 FY24. Profit after tax for the quarter was ₹80.53 crore (₹21.89 crore).
The group reported a consolidated EBITDA of ₹328 crore, revenue from operation of ₹1,077.72 crore.
Real estate revenue was the largest contributor, totalling ₹707 crore, followed by leasing revenue at ₹259 crore, while Hospitality revenue touched ₹118 crore.
Key contributor
“Real estate segment continued to be the primary driver of our growth, while other segments made healthy contributions. We believe our diverse portfolio will help us capitalise on emerging opportunities”, said Pavitra Shankar, Managing Director, Brigade Enterprises.
The pre-sales bookings in the real estate sector reached 1.15 million sq ft, amounting to a sale value of ₹1,086 crore. The average realisation was ₹9,483 per sq ft. The company possesses a land bank of 517 acres distributed across various cities: 345 acres in Bengaluru, 125 acres in Chennai, 10 acres in Hyderabad, 15 acres in Mysuru, and 20 acres in Kochi. It has two acres in Gujarat.
Major events, including IPL matches, and the MICE (Meetings, Incentives, Conferences, and Exhibitions) segment, contributed to occupancy and average rental rates (ARR). The portfolio occupancies were at 75 per cent, and the portfolio ARRs stood at ₹6,233.
However, the nationwide General Election led to sluggish revenue growth, and the fewer auspicious days during the quarter further impacted the growth rate.
The company closed its shares on the BSE at ₹1,124.40, reflecting a dip of 6.13 per cent.