MR Jaishankar, Chairman & MD of Brigade Enterprises says the firm's real estate business was down due to revenue recognition changes.
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.
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.