Brigade Enterprises Faces Sales Dip Amid Approval Delays
Brigade Enterprises Ltd experienced a 5% dip in pre-sales, reaching Rs 7,424 crore, due to delays in project approvals. Despite challenges, new launches constituted 43% of sales and average realisation rose by 9%. Net profit improved alongside total income, and a bonus issue was recommended by the board.
Brigade Enterprises Ltd witnessed a 5% decline in pre-sales, totaling Rs 7,424 crore, primarily due to hindered approval processes for several residential projects. The previous fiscal year recorded Rs 7,847 crore in pre-sales.
The company's Managing Director, Pavitra Shankar, highlighted the delay in approvals, which deferred project launches to late Q4 and into FY27. Notably, 43% of full-year pre-sales were fueled by new launches, despite setbacks, according to a transcript on the BSE dated May 11. Shankar emphasized that the launch of new projects in FY26 covered 8.3 million square feet, compared to an anticipated 12 million. Projects involving 3.3 million square feet were deferred to FY27, notably in Chennai.
Financially, Brigade Enterprises reported a net profit increase to Rs 724.76 crore from the prior year's Rs 680.47 crore, with total income climbing to Rs 5,909 crore from Rs 5,313.54 crore. The board proposed a final dividend of Rs 2 per equity share and recommended a 1:3 bonus share issue, pending member approval.
(With inputs from agencies.)
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