Brigade Enterprises Ltd Share Price – NSE  /  BSE

Realty, Small Cap

HG Hotels & Resorts and Brigade Group have announced the signing of a management agreement to debut the InterContinental brand in Telangana − InterContinental Hyderabad Neopolis. Slated to open in 2029, this newly constructed hotel is expected to be an integral part of Brigade's upcoming, mixed-use development.

InterContinental Hyderabad Neopolis, proposed to have 300 rooms, once opened, is expected to showcase five dining options, including a signature restaurant, two specialty restaurants, and a lobby lounge. The hotel is also proposed to offer conferencing facilities, a fitness center, spa, a swimming pool, an outdoor recreation area and a retail outlet. To cater to MICE demands and large social gatherings, the hotel is proposed to feature eight meeting rooms including a spacious ballroom.

Powered by Capital Market - Live News

The company’s sales volume stood at Rs 2.72 million square feet (sq.ft) in Q4 FY24.

On FY24 basis, the company has achieved pre-sales of Rs 6,013 crore in FY24. Additionally, real estate sales volumes of 7.55 Mn. Sft. in FY24 and 2.72 Mn. Sft. in Q4 FY24, along with average realisation for FY24 increasing by 23% over FY23. Collections across the Group for FY24 stood at Rs 5,915 crore as against Rs 5,424 crore for FY23.

In the Hospitality vertical, average occupancy stood at 72% (grown 3 percentage points) and ARR stood at around Rs 6,480 which recorded around 8% growth in FY24.

In FY24, the company has launched 5.26 Mn. Sft. in the Residential vertical and 0.94 Mn. Sft. in the Commercial vertical.

Pavitra Shankar, managing director, Brigade Enterprises, said, “The residential business continued to drive sales growth, with all other verticals of the company contributing significantly and finishing strong in the financial year. This year, we have been able to achieve our best ever operational performance, and we aim to leverage this performance in FY25. Our outlook is optimistic, as we believe demand for residential space will continue to be strong. Our leasing efforts gained momentum and healthy growth in ARR in our hospitality vertical as well. We are aggressively pursuing land acquisition opportunities in our target markets and continue to add high quality assets to our land bank.”

Brigade Enterprises is one of India’s leading property developers. The company has developed properties in cities like Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.

The company reported 31% rise in consolidated net profit to Rs 55.8 crore on a 41% increase in revenue to Rs 1,208.2 crore in Q3 FY24 as compared with Q3 FY23.

Powered by Capital Market - Live News

The company’s sales volume stood at Rs 2.72 million square feet (sq.ft) in Q4 FY24.

On FY24 basis, the company has achieved pre-sales of Rs 6,013 crore in FY24. Additionally, real estate sales volumes of 7.55 Mn. Sft. in FY24 and 2.72 Mn. Sft. in Q4 FY24, along with average realisation for FY24 increasing by 23% over FY23. Collections across the Group for FY24 stood at Rs 5,915 crore as against Rs 5,424 crore for FY23.

In the Hospitality vertical, average occupancy stood at 72% (grown 3 percentage points) and ARR stood at around Rs 6,480 which recorded around 8% growth in FY24.

In FY24, the company has launched 5.26 Mn. Sft. in the Residential vertical and 0.94 Mn. Sft. in the Commercial vertical.

Pavitra Shankar, managing director, Brigade Enterprises, said, “The residential business continued to drive sales growth, with all other verticals of the company contributing significantly and finishing strong in the financial year. This year, we have been able to achieve our best ever operational performance, and we aim to leverage this performance in FY25. Our outlook is optimistic, as we believe demand for residential space will continue to be strong. Our leasing efforts gained momentum and healthy growth in ARR in our hospitality vertical as well. We are aggressively pursuing land acquisition opportunities in our target markets and continue to add high quality assets to our land bank.”

Brigade Enterprises is one of India’s leading property developers. The company has developed properties in cities like Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.

The company reported 31% rise in consolidated net profit to Rs 55.8 crore on a 41% increase in revenue to Rs 1,208.2 crore in Q3 FY24 as compared with Q3 FY23.

The scrip advanced 1.16% to ends at Rs 994.75 on Tuesday, 16 April 2024.

Powered by Capital Market - Live News

The said appointment is based on the recommendation of the nomination and remuneration committee and approval of the audit committee of the company.

Jayant Bhalchandra Manmadkar holds a Masters degree in Commerce and is a qualified Chartered Accountant, ICWA and CS.

He has over 30 years of experience in handling finance and strategy for large groups across various industry segments that include financial services, research, development & manufacturing, real estate and pharmaceuticals.

He brings with him an extensive background in Strategic planning, mergers & acquisitions, international operations, treasury, corporate finance, financial planning and analysis, tax, investor relations, information technology, corporate governance, and corporate affairs.

Brigade Enterprises is one of India’s leading property developers. The company has developed properties in cities like Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.

The company reported 31% rise in consolidated net profit to Rs 55.8 crore on a 41% increase in revenue to Rs 1,208.2 crore in Q3 FY24 as compared with Q3 FY23.

The scrip fell 1.83% to ends at Rs 983.30 on Monday, 15 April 2024.

Powered by Capital Market - Live News