NEW DELHI: Brigade Enterprises has reported a growth of 2.29 per cent in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 115.08 crore in Q2 FY5 as against Rs 112.50 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 1,138.13 crore in Q2 FY25, a dip of 19.16 per cent from Rs 1,407.92 crore it recorded in the similar quarter last year.
Pavitra Shankar, managing director of the company said, “We have upcoming projects of approximately 13 million sq ft over the next four quarters including eight in Bengaluru, four in Chennai, one in Hyderabad and two in Mysuru.”
During the quarter ended September 30, 2024, the paid-up equity share capital of the holding company has increased from Rs 23,114 lakhs to Rs 24,422 lakhs pursuant to allotment of 45,131 equity shares on exercise of stock options by employees and issue of share through QIP allotment of 1,30,43,478 shares.
Brigade Hotel Ventures, a wholly-owned subsidiary of the company, has filed draft red herring prospectus (DRHP) dated October 30, 2024 with SEBI for an initial public offering of equity shares of face of Rs 10 each
comprising of fresh issue of equity shares aggregating upto Rs 900 crore.
The company achieved pre-sales volume of ~1.68 million sq ft in Q2 FY25. Average sales realization stood at Rs 10,832 per sq ft in the quarter under review, an increase of 45% over Q2 FY24. Brigade has 25 million sq ft of ongoing projects as of September 2024.
