Shares of Brigade Enterprises surged over 6 percent on August 6, a day after the Bengaluru-based real estate firm reported that its profit in the fiscal first quarter (Q1FY25) grew nearly four-fold on-year to Rs 81 crore.
The company's strong launch pipeline provides growth visibility in the near term, according to Motilal Oswal. The company’s consolidated revenue from operations grew 62 percent YoY to Rs 1,113 crore during the April to June FY25 period.
Brigade Enterprises recorded presales of Rs 1,086 crore during the period, alongside a sales volume of 1.15 million square feet. Its average realisation stood at Rs 9,483 per square foot during the three months, the real estate player said in a regulatory filing.
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“Nation-wide general election resulted in sluggishness in the revenue; fewer auspicious dates during the quarter added to the slower growth rate,” the company cited in its investor presentation.
Consequently, the company’s total expenses also grew 53 percent YoY to Rs 1,005 crore during the quarter.
"Real estate segment continued to be the primary driver of our growth, while other segments made healthy contributions,” said Pavitra Shankar, Managing Director, Brigade Enterprises.
Brigade Enterprises operates eight hotels across five cities with 1,474 keys. It has developed several landmark buildings across Bengaluru, Chennai, Hyderabad, Gift City-Gujarat and Thiruvananthapuram, among others, with developments across residential, office, retail and hotels.
At 10:11 am, Brigade Enterprises shares were trading 6.2 percent higher at Rs 1,194.50 on the National Stock Exchange (NSE). So far this year, the stock has risen 33 percent, beating benchmark Nifty's returns of 11.6 percent.
In the last one year, the stock has zoomed over 102 percent, doubling investors' money.
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