Financial results 2017- 18 announced by Brigade Group
Brigade Group announces financial results for FY 2017- 18 inBengaluru on May 17. Brigade Group was established in 1986, with property development as its main focus. Their projects extend across several major cities in South India: Chennai, Chikmagalur, Hyderabad, Kochi, Mangalore and Mysore.
The Brigade Group’s Consolidated Revenues for the year ended FY 18 was Rs.1946 crores as against 2058 crores in FY 17. Also the Consolidated Net Profits after Minority Interest (MI) and before exceptional item stood at Rs. 149 crores for the financial year ended 31st March, 2018 VsRs 153 crores for the previous financial year. The Consolidated EBITDA for the year ended FY 18 was at Rs. 603 croresVsRs. 609 crores for the previous financial year.
The Group is presently developing about 20 million Sq. ft across residential, office, retail and hotel segments. Commenting on the Company’s performance, Mr. M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited, said “The Financial Year 18 has been a challenging year in the light of recent policy changes like Real Estate Regulation Act & Goods and Services Tax Act in the Real Estate Industry, We are optimistic on the future given our existing pipeline of projects across various segments i.e. Real Estate, Commercial Leasing and Hospitality”