1.13 million sq. ft. sold during Q1FY20, Best ever pre-sales numbers achieved in the Company’s history.
New Delhi, August 17, 2019: Brigade Enterprises Limited’s Consolidated Revenues for the first quarter ended 30th June, 2019 is at Rs.717 crores as compared to Rs.708 crores for Q1FY19. EBITDA Margin stood at 27% for Q1FY20 same as Q1FY19. Consolidated Net Profit (after minority interest) is at Rs 41 Crores for Q1FY20 as compared to Rs.63 Crores for Q1FY19. The decrease in net profit margin is mainly due to increase in depreciation and interest on capitalized assets.
Real Estate space aggregating to 1.13 Million sft was sold during Q1 FY20 which is165% higher as compared to Q1 FY19. The total value of space sold was Rs. 593 Crores during Q1 FY20 which is 172% higher when compared to Q1 FY19.
Commenting on Company’s performance, Mr. M.R.Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited:
“The financial as well as operational performance is good despite tough market conditions and macroeconomic environment. The pre sales volume of 1.13 million sq. ft. achieved this quarter is the highest in the history of the group. The robust pipeline of projects to be launched in the next few quarters will scale up the performance further in the coming quarters. The repo rate cut announced by RBI recently and measures announced in the Union Budget for the real estate sector is the step in the right direction.”
Financial Highlights
Consolidated Q1 Performance (Q1FY20 Vs Q1FY19)
Operational Highlights:
New Launches in Q1 FY20
Issue of Securities
The Shareholders of the Company have in the 24thAnnual General Meeting of the Company held earlier in the day today have approved the following:
Outlook
The Group is currently developing about 19million Sq. ft across Residential, Office, Retail and Hotel segments. Further, launches to the extent of about 9million Sq. ft. are planned in the next few quarters across segments.
Awards and Recognitions
For information on Brigade Group, please visit BrigadeGroup.com or contact us at investors@brigadegroup.com
For more information, please contact:
Mathew Abraham, Brigade Enterprises Ltd.,
Sr. DGM- Corporate Communications & PR,
Phone: + 91 80 41379200
E-mail: mathew@brigadegroup.com
Corporate Comm India (CCI Newswire)
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