Brigade Enterprises: Strong Growth Amidst Market Fluctuations

Brigade Enterprises Ltd, a prominent real estate developer, experienced a 3% increase in sales bookings, amounting to Rs 1,118 crore for the first quarter of the fiscal year, thanks to improved per square feet realisation from housing properties.

Despite a dip in sales volume by 17% to 9.49 lakh sq ft, the company benefited from a 24% boost in sales realisation, which rose to Rs 11,782 per sq ft, compared to Rs 9,483 per sq ft previously.

Brigade reported a remarkable 79% increase in consolidated net profit to Rs 149.88 crore for the quarter ended June, alongside a rise in total income to Rs 1,332.86 crore. Established in 1986, the firm has expanded its footprint across multiple Indian cities and ventures into hotels and education.

(With inputs from agencies.)