Bengaluru, November 15, 2018: 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.
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.
Consolidated H1 FY19 Performance
- Total Revenues stood at Rs 1551 crores
- EBITDA is at Rs. 425 crores
- EBITDA margin is at 28%
- PBT of Rs.227 crores
- PAT (after minority interest) is at Rs. 131 crores
Consolidated Operational Performance Q2 FY19
- Real Estate space aggregating to over 0.8 million sq. ft was sold during Q2, an increase of 88% over the previous quarter.
- The total sale value for Q2was 460 crores, an increase of 110% over the previous quarter.
- The average price realisation is Rs. 5,719 per sq. ft.
- 3 Real Estate projects were launched aggregating to about 0.9 million sq. ft.
- Commenced construction of IBIS Styles Mysuru with 154 Keys.
- The Net Debt Equity ratio of the Company on 30thSeptember, 2018 is 1:1 as per AS 115 and 0.93:1 as per AS18
- The Weighted average cost of debt as on 30thSeptember, 2018 was at 9.33%.
About 10 to 12 million sq. ft. of space is planned for launch in H2 FY19. Of this, about 8 to 9 million sq. ft. will be in the Residential segment and about 3 million sq. ft. will be in the Office & Retail segments.
Awards and Recognitions
Brigade was recognized as one of India’s Top Builders at the Construction World Architects & Builders Award 2018.
For information on Brigade Group, please visit BrigadeGroup.com or contact us at email@example.com
Corporate Comm India(CCI Newswire)