Tuesday, 28 May 2024
Source/Reporter : Souptik Datta
In the fourth quarter of FY24, the company said, it achieved a revenue of Rs 1,763 crore, an increase of 102 percent over Q4 FY23.
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Bengaluru-based listed real estate developer Brigade Group has posted profit before tax of Rs 211 crore in the fourth quarter of FY24, up by 234 percent YoY, with revenue of Rs 1,763 crore, an increase of 102 percent over Q4 FY23, according to a regulatory filing on May 28.
The profit after tax in FY24 stood at Rs 569 crore, up by 105 percent compared to the last financial year. In FY24, the company clocked a revenue of Rs 5,064 crore, an increase of 42 percent over FY23. The EBITDA for FY24 stood at Rs 1,362 crore.
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The total collections from customers stood at Rs 5,915 crore, which grew by 9 percent over FY23. Net cash flow from operations stood at Rs 1,575 crore.
In the fourth quarter of FY24, the revenue for the residential segment grew to Rs 1,390 crore, an increase of 143 percent over Q4 FY23. The commercial segment clocked a revenue of Rs 247 crore in Q4 FY24, up by 32 percent over Q4 FY23. The hospitality segment saw a revenue of Rs 126 crore, marginally rising from Rs 112 crore in Q4 of last year.
During the quarter, the EBITDA stood at Rs 493 crore as against Rs 231 crore in Q4 FY23, an increase of 113 percent.
"With a strong pipeline of 22 million sq ft of ongoing projects and around 16 million sq ft of upcoming projects, we are confident of sustained performance in the coming quarters as well. We continue to focus on Bengaluru, Chennai and Hyderabad for suitable land parcels," Pavitra Shankar, Managing Director, Brigade Group said.
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Bengaluru-based listed real estate developer Brigade Group has posted profit before tax of Rs 211 crore in the fourth quarter of FY24, up by 234 percent YoY, with revenue of Rs 1,763 crore, an increase of 102 percent over Q4 FY23, according to a regulatory filing on May 28.
The profit after tax in FY24 stood at Rs 569 crore, up by 105 percent compared to the last financial year. In FY24, the company clocked a revenue of Rs 5,064 crore, an increase of 42 percent over FY23. The EBITDA for FY24 stood at Rs 1,362 crore.
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The total collections from customers stood at Rs 5,915 crore, which grew by 9 percent over FY23. Net cash flow from operations stood at Rs 1,575 crore.
In the fourth quarter of FY24, the revenue for the residential segment grew to Rs 1,390 crore, an increase of 143 percent over Q4 FY23. The commercial segment clocked a revenue of Rs 247 crore in Q4 FY24, up by 32 percent over Q4 FY23. The hospitality segment saw a revenue of Rs 126 crore, marginally rising from Rs 112 crore in Q4 of last year.
During the quarter, the EBITDA stood at Rs 493 crore as against Rs 231 crore in Q4 FY23, an increase of 113 percent.
"With a strong pipeline of 22 million sq ft of ongoing projects and around 16 million sq ft of upcoming projects, we are confident of sustained performance in the coming quarters as well. We continue to focus on Bengaluru, Chennai and Hyderabad for suitable land parcels," Pavitra Shankar, Managing Director, Brigade Group said.