Brigade Enterprises reports 31% rise in quarterly profit to Rs 56 crore

Realty firm Brigade Enterprises on Tuesday reported a 31 per cent increase in its consolidated net profit to Rs 55.79 crore for the quarter ended December on higher income. Its net profit stood at Rs 42.68 crore in the year-ago period.

Total income rose to Rs 1,208.18 crore during October-December period of this fiscal year from Rs 858.63 crore in the corresponding period of the previous year, according to a regulatory filing.

Brigade Enterprises said the company's net bookings in the real estate segment stood at 1.7 million square feet with a sale value of Rs 1,524 crore during the third quarter of this fiscal year.

"We have witnessed healthy growth across our business verticals. The momentum in the residential business continues to exhibit healthy growth both in terms of pricing as well as volume and continues to look positive with a strong pipeline of launches for the fourth quarter of FY24," Pavitra Shankar, Managing Director of Brigade Enterprises, said.

She said the office segment recorded the best leasing quarter post-Covid while the retail business has seen good leasing traction and hospitality has seen improvements across the board.

Brigade Enterprises has presence in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru across residential, office, retail and hotels.