Brigade Enterprises Reports Strong Q2 Performance with 12% Growth in Presales
Brigade Enterprises Limited achieved robust Q2 results with consolidated revenue up 26% to INR 1,430.00 crores and PAT growing 48% to INR 170.00 crores. Residential segment presales increased 12% to INR 2,034 crores. The company maintains a healthy financial position with zero residential debt for two consecutive years. Future outlook includes plans for 7 million square feet of launches with an estimated GDV of INR 8,000-8,300 crores across multiple cities.
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Brigade Enterprises Limited , a leading real estate developer, has reported a robust performance for the second quarter, with significant growth across its business segments.
Residential Segment Shines
The company achieved presales of INR 2,034 crores in Q2, marking a 12% increase compared to the same period last year. The presales volume stood at 1.90 million square feet, up by 13% year-over-year. Notably, the average realization improved by 13% to INR 12,236 per square foot.
Financial Highlights
Brigade Enterprises posted impressive financial results for Q2:
| Metric | Q2 | YoY Growth |
|---|---|---|
| Consolidated Revenue | INR 1,430.00 crores | 26% |
| EBITDA | INR 375.00 crores | - |
| EBITDA Margin | 26% | - |
| Consolidated PAT | INR 170.00 crores | 48% |
| PAT after Minority Interest | INR 162.00 crores | 37% |
Segment-wise Performance
The company reported strong growth across its various business segments:
| Segment | Revenue | YoY Growth | EBITDA |
|---|---|---|---|
| Real Estate | INR 951.00 crores | 31% | INR 110.00 crores |
| Leasing | INR 341.00 crores | 17% | INR 223.00 crores |
| Hospitality | INR 138.00 crores | 16% | INR 42.00 crores |
Debt and Liquidity Position
Brigade Enterprises maintains a healthy financial position with:
- Gross debt: INR 4,291.00 crores
- Cash and cash equivalents: INR 2,574.00 crores
- Net debt: INR 1,717.00 crores
- Debt-equity ratio: 0.22
Importantly, the company has maintained zero residential debt for two consecutive years, showcasing strong sales and collections.
Future Outlook
The company has a robust pipeline of approximately 7 million square feet of upcoming launches planned for the next two quarters, with an estimated Gross Development Value (GDV) of INR 8,000-8,300 crores. This includes projects across Bengaluru, Chennai, Hyderabad, and Mysuru.
Commercial and Hospitality Segments
The office portfolio occupancy stands at 92%, with 8.67 million square feet leased out of 9.38 million square feet. The hospitality segment saw a 14% increase in Average Room Rate (ARR) to INR 7,106, with 76% occupancy.
Land Acquisitions and Expansion
In the first half, Brigade acquired 13 million square feet with a GDV of INR 14,000 crores, including strategic land leases in Chennai and joint development agreements in Bangalore.
Corporate Social Responsibility
The company continues to contribute to community development through various initiatives, including the inauguration of a Freedom Fighters Memorial in Chikmagalur and a major tree planting initiative.
Brigade Enterprises' strong performance across segments, coupled with its robust pipeline and strategic expansions, positions the company well for continued growth in the coming quarters. The focus on maintaining a healthy financial position while expanding its portfolio demonstrates the company's commitment to sustainable growth in the real estate sector.
Historical Stock Returns for Brigade Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.46% | -4.42% | +11.09% | -0.43% | -17.64% | +399.75% |
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