Brigade Enterprises Ltd (BRIGADE) announces Q2 FY 18 Financial Results

Brigade Group’s Q2 PAT increases by 38%

Q2 FY18 Revenue increased by 9%, PBT increased by 22 % and PAT increased by 38%

H1 FY18 Revenue increased by 15%, PBT increased by 24 % and PAT increased by 36%

Bangalore, November 13, 2017:  Brigade Enterprises Limited’s Consolidated Revenues for 3 months ended 30^th September, 2017 was Rs. 500 crores, up from Rs.459 crores recorded during corresponding 3 months in the previous year, an increase of 9%.  The Consolidated Net Profits stood at Rs. 42 crores as against Rs. 30 crores, up by 38%.

The Consolidated Revenues for 6 months ended 30^th September, 2017 was Rs. 1,064 crores up from Rs.926 crores recorded during corresponding 6 months in the previous year, an increase of 15%.  The Consolidated Net Profits for 6 months ended 30^th September, 2017 stood at Rs. 71 crores as against Rs. 52 crores for the corresponding period in the previous year, up by 36%                          .                                                                                                                                 .
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 has seen marginal increase in both volume and value. We are confident that the coming quarters will witness improved performance.”

FINANCIAL HIGHLIGHTS

Consolidated Q2FY18 Vs Q2 FY17 Performance

• Total Revenues stood at Rs. 500 crores vis-a-vis Rs. 459 crores, an increase of 9%
• EBITDA stood at Rs. 149 crores vis-a-vis Rs. 138 crores, an increase of 8%.
• EBITDA margin was maintained at 30%.
• PBT stood at Rs. 56 crores vis-a-vis Rs. 46 crores, an increase of 22 %.
• PAT stood at Rs. 42 crores vis-a-vis Rs. 30 crores, an increase of 38%.

Consolidated H1 Performance (H1 FY18 Vs H1 FY17):

• Total Revenues stood at Rs. 1,064 crores vis-a-vis Rs. 926 crores, an increase of 15 %
• EBITDA stood at Rs.285 crores vis-a-vis Rs. 262 crores, an increase of 9%.
• EBITDA margin stood at 27% vis-à-vis 28%.
• PBT stood at Rs.100 crores vis-a-vis Rs. 80 crores, an increase by 24%.
• PAT stood at Rs. 71 crores vis-a-vis Rs. 52 crores, an increase by 36%.

Consolidated Operational Performance

• Real Estate space aggregating to 0.37 million sq. ft. with a total value of 217 crores was sold during the second quarter ending 30^th September, 2017. The average price realisation was Rs. 5,916 per sq. ft.
• Leasing and Hospitality segments contributed Rs. 68 crores and Rs. 56 crores respectively to the consolidated revenues for the second quarter ended 30^th September, 2017.
• The Debt Equity ratio of the Company as on 30^th September, 2017 is 71: 1. Credit rating of “A” has been assigned by both CRISIL and ICRA.

OUTLOOK

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.

AWARDS & RECOGNITION

• Brigade was recognised as one of India’s Top Builders at the Construction World Architects & Builders Awards 2017.
• Brigade Palmgrove won the first prize and Brigade Symphony won the second prize for the ‘Best Landscaped Gardens’ at the Annual Mysuru Dasara Flower Show 2017 jointly organised by Horticulture Department, District Horticulture Association and Mysuru City Corporation (MCC), at Mysuru.
• Brigade has been recognised as one of the ‘Companies with Great Mangers’ in India. Two managers from Brigade were selected in the list ‘Hunt for Great Managers’-  Jayashree Venkatesh- Sr. General Manager-QS received the award in the category ‘Women Leaders’ and Mr. Manu R- Sr. DGM-Facilities received the award in the category ‘Overall’.

For information on Brigade Group, please visit BrigadeGroup.com or contact us at investors@brigadegroup.com 

Corporate Comm India(CCI Newswire)