Brigade Enterprises expects the infrastructure status awarded to affordable housing in Budget to pump up sales in the April-June quarter.
The aim is to encourage start-ups in the real estate, hospitality, retail and education spaces, said MR Jaishankar, CMD, Brigade Group.
Speaking to CNBC-TV18 MR Jaishankar, CMD of Brigade Enterprises says he is bullish on the hospitality business, adding the company would retain majority stake in it.
MR Jaishankar CMD, Brigade Enterprises, discusses the company's fourth quarter earnings in FY15 and its future outlook.
In an interview to CNBC-TV18, MR Jaishankar, chairman and managing director, Brigade Enterprise talks about the company‘s upcoming launches.
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.
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.