Brigade Enterprises Posts Net Profit of Rs 1.125 Bn in Q2 FY24

09 Nov 2023 CW Team

intro: Brigade Enterprises reports a net profit of Rs 1.125 billion in Q2 FY24 Brigade Enterprises has reported a net profit of Rs 1.125 billion in Q2 FY24, an increase of 117.39% from Rs 517.5 million in the corresponding quarter of the previous fiscal. The company's net consolidated total income stood at Rs 1407.92 billion in Q2 FY24, a growth of 54.35% from Rs 9.12 billion it recorded in the similar quarter last year. The company's growth was driven by strong revenue growth from its residential and commercial segments. The residential segment revenue grew by 99% to Rs 1077.89 billion, while the commercial segment revenue grew by 23% to Rs 2.80 billion. Brigade Enterprises is a leading real estate developer with a portfolio of residential, commercial, retail, and hospitality projects. The company's projects are located in major Indian cities such as Bengaluru, Chennai, Hyderabad, and Mumbai. The company's strong financial results are a reflection of its strong brand, its focus on innovation, and its commitment to providing a superior customer experience. The company is well-positioned for continued growth in the years to come. In addition to its financial results, Brigade Enterprises also announced that it has acquired a 1.26 lakh sq ft office space in BKC, Mumbai for over Rs 601 million. The company has also acquired over 68,195 sq ft of office space in Andheri, Mumbai for Rs 36.1 million. These acquisitions will strengthen the company's commercial portfolio and help it to expand its presence in the Mumbai market. The company is also planning to launch new projects in the near future.

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