Brigade Enterprises Q4 net profit was down 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 Latha Venkatesh, MR Jayshankar, chairman and managing director (CMD) at Brigade Enterprises said that though the profits have fallen, the company expects to achieve Rs 625-650 sales target in FY11. Below is a verbatim transcript of the interview. Also watch the video. Q: Comparing your revenues quarter-on-quarter (QoQ), it has fallen to Rs 83 crore versus Rs 133 crore from previous quarter. An extraordinary amount came into your profit and loss last quarter because of the sale of land, deducting that sale, can give us an idea of how your numbers fair like to like?
A; Compared to the previous quarter of last year there is a dip, but it is primarily due to accounting methods adopted in real estate sector. Precisely, the way recognition principle is handled by the accounting standards. As far as third quarter is concerned, we have not sold any land. We have sold only a commercial property. Q: What about your sales and revenue performance on quarter-on quarter basis? Did you see an increase in bookings or sales that can reflect in first quarter; we would like to understand the progression of the company?
A: Not a substantial booking increase in Q4 compared to Q3, it is more or less steady. Going forward, we don
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
