A lot of unrecognized revenue is still there and based on sales and expenditure to be incurred for this year, we think that we will be able to grow more than the estimated 30-35 percent this year, Suresh Kris, CFO of Brigade Enterprises told CNBC-TV18.
MR Jaishankar CMD, Brigade Enterprises, discusses the company's fourth quarter earnings in FY15 and its future outlook.
According to Suresh Kris, CFO, Brigade Enterprises the average realisation for the new project would be around Rs 4500 per sq but does not see revenue recognition from the new project in the current quarter.
Suresh Kris, chief financial officer, Brigade Enterprises says the company's Q3 numbers were strengthened by its Cosmopolis Phase I project that hit revenue recognition in Q3.
Suresh Kris, CFO of Brigade Enterprises believes the company will be able to maintain EBITDA margin at 30 percent.
CMD MR Jaishankar expects 1.5-2 msf of launches in the next 2-3 months.
In an interview to CNBC-TV18, MR Jaishankar, chairman and managing director, Brigade Enterprise talks about the company‘s upcoming launches.
Brigade Enterprises has planned for 7 million square feet residential launches in FY15. Till date about 3 million sq ft has already been launched.
However, YD Murthy, Executive VP-Finance at NCC says the FDI notification does not pertain to engineering, procurement and construction (EPC) companies but the company will bid for EPC projects if NHAI bidding comes up
Suresh Kris, chief financial officer, Brigade Enterprises, says the average realization of the proposed project could be in the range of Rs 7000- 7500 per square feet.
The new project of retirement homes in Bangalore has already seen 25 percent bookings and Q4 is bound to be better than Q3, says MR Jaishankar, chairman and managing director, Brigade Enterprise.
Speaking to CNBC-TV18's Latha Venkatesh & Ekta Batra, Suresh Kris, CFO, Brigade Enterprise, says the last quarter is likely to be better than Q3 and the company will launch about 3.3 million square feet projects across all segments.
The company has bought around 2.25 acre from Hindustan Coca-Cola to develop office space at Hebbal, in Bengaluru.
The company‘s revenue in Q2FY14 stood at Rs 171.50 crore versus Rs 184.50 crore, year-on-year (Y-o-Y). Its EBITDA in Q2 fell marginally to Rs 47.20 crore versus Rs 47.40 crore.
According to Suresh Kris, the new launch which is a joint venture with the GIC so far, has received good response and going ahead, he expects revenue worth Rs 1,000 crore from it.
Viswa Prathap Desu, vice president- sales and marketing, Brigade Enterprises says the company will have a 30-40 percent hike in its FY14 collections too.
Suresh Kris, CFO, Brigade Enterprises speaks about the company's performance in the June quarter. He told CNBC-TV18 that he is confident of registering good sales due to new project launches scheduled in the coming quarters.
Real estate player Brigade Enterprise does not expect any big commercial sales in this calendar year, says CFO Suresh Kris. He believes that the total could be only on the lease rental basis and that too will come only after two years.
In an interview to CNBC-TV18 Suresh Kris, CFO, Brigade Enterprise said that they have managed to maintain EBITDA at 30 per cent in Q3.
MR Jaishankar, Chairman & MD of Brigade Enterprises says the firm's real estate business was down due to revenue recognition changes.
MR Jaishankar, chairman and managing director, Brigade Enterprises explains to CNBC-TV18 that he expects a revenue of over Rs 700 crore and 12-15 months for approvals. He adds that the project should bring in revenue in the next financial year of 2013-2014.
Chairman and managing director of Brigade Enterprises, MR Jaishankar told CNBC-TV18 said that they would launch about 10 million square feet in this financial year. He also informed that they would be able to do about 31 million square feet of projects in FY12 in five-six years.
Brigade Enterprises Q4 net profit was up at Rs 27.2 crore for the quarter ended March versus Rs 32 crore, in the same quarter a year ago. Revenues declined Rs 83 crore from Rs 133 crore, in the same period previous fiscal.
Shama Sunder, CFO of Brigade Enterprise, in an interview with CNBC-TV18’s Ekta Batra and Reema Tendulkar, gave his view on the points highlighted in the report and the road ahead for their company.
Speaking to CNBC-TV18's Sonia Shenoy and Latha Venkatesh, MR Jayshankar, chairman and managing director at of Brigade Enterprises said that though the company has shown substantial improvement in profits, overall EBITDAs will still be in the range of 25-27% on a yearly basis.