Brigade Group’s Q2 PAT increases by 38%
Brigade Enterprises Limited’s has reported 38% rise in its net profit at Rs. 42 crore for the quarter ended September 2017 as against Rs. 30 crores for the same period last year.
Consolidated Revenues for 3 months ended 30th September, 2017was Rs. 500crores, up from Rs.459crores recorded during corresponding 3 months in the previous year, an increase of 9%. The total Revenues stood at Rs. 500 crores vis-a-visRs.459 crores, an increase of 9% and EBITDA stood at Rs. 149 crores vis-a-visRs.138 crores, an increase of 8%.
Commenting on the company’s performance, Mr. M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited said, “The growth in consolidated revenues and profits reflects the strong array of projects that the Group is marketing. This is despite the challenging market conditions and significant change in Regulations. Our sales have seen marginal increase in both volume and value. We are confident that the coming quarters will witness improved performance.”
Brigade Group is currently developing about 21 million Sq. ft across Residential, Office, Retail and Hotel segments. Further, launches to the extent of about 6 million Sq. ft. are planned for the next two quarters across the 4 segments.