Brigade Enterprises Q3 Results: Profit Surges More Than Threefold
Revenue rose 25% to Rs 1,463.9 crore in the December quarter.
Brigade Enterprises Ltd.'s consolidated net profit jumped more than threefold in the third quarter of the current financial year.
The Bengaluru-based property developer posted a profit of Rs 236.2 crore in the quarter ended December in comparison to Rs 73.5 crore in the year-ago period, according to an exchange filing on Wednesday.
Revenue from operations rose 25% to Rs 1,463.9 crore in the October–December period from Rs 1,173.8 crore clocked during the same quarter last year.
Brigade Enterprises Q3 FY25 Highlights (Consolidated, YoY)
Revenue up 25% to Rs 1,463.9 crore versus Rs 1,173.8 crore.
Ebitda up 58% to Rs 413.7 crore versus Rs 262 crore.
Margin expands to 28.3% versus 22.3%.
Net profit up 221% to Rs 236.2 crore versus Rs 73.5 crore.
Key Operational Metrics
Pre-sales volume up 29% to 2.19 million sq ft.
Sales value up 63% to Rs 2,492 crore.
Collections up 27% to Rs 1,777 crore.
Average price realisation up 27% to Rs 11,364 per sq ft.
In the third quarter, the company achieved overall leasing of 98% across the office portfolio while maintaining a consistent rental collection of 99%. The overall mall consumption grew 8% over the corresponding quarter of the last fiscal.
Net debt stood at Rs 1,127 crore as of December quarter as compared to Rs 856.7 crore in the previous quarter.
Shares of Brigade Enterprises rose as much as 19.07% during the day to Rs 1,207.30 apiece on the National Stock Exchange. It closed 7.81% higher at Rs 1,093.05 per share, compared to a 0.9% advance in the benchmark Nifty. The share price has risen 8.54% on a year-to-date basis.
Fourteen analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 33.3%.
