Brigade Enterprises Ltd announces Q2 FY 19 Financial Results

Brigade Enterprises Ltd announces Q2 FY 19 Financial Results
14/11/2018 , by , in News/Views

Brigade Enterprises Limited’s Consolidated Revenue for the second quarter ended 30th September, 2018 is Rs. 844 crores and the Consolidated Net Profits (after minority interest) is Rs 68 crores.

Commenting on the company’s performance, Mr. M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited, said “The Company has performed well in Q2 and the results are encouraging. Our sales have almost doubled this quarter and our marketing strategies to monetise products across various categories are paying off. Further, we are planning to launch key projects in prime micro markets. These include affordable housing projects which will propel the sales momentum further.”

The Company has sold over 0.8 Million sft of Real Estate space in Q2 FY19. This is amongst the best quarters’ the company has witnessed from a sales perspective.

Financial Highlights

Consolidated Q2 Performance (Q2FY19 Vs Q1FY19)

Total Revenues stood at Rs 844 crores as against Rs. 708 crores, an increase of 19%.

EBITDA stood at Rs. 236 crores as against Rs. 188 crores, an increase of 26%.

EBITDA margin stood at 29 % as against 27%, an increase of 2%.

PBT stood at Rs. 133 crores as against Rs.94 crores, an increase of 42%.

PAT (after minority interest) stood at Rs. 68 crores as against Rs.63 crores, an increase of 8%.

Since there is a change in accounting method, the current quarter numbers as per AS-115 cannot be compared with previous year figures.

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