Bangalore, November 16, 2016: Brigade Enterprises Limited’s Consolidated Revenues for 6 Months ended 30th September, 2016 was Rs. 925.5 crores, up from Rs. 914.6 crores recorded during corresponding Six Months in the previous year. The Consolidated Net Profits stood at Rs. 52.3 crores as against Rs. 65.4 crores.
Commenting on the company’s performance, Mr. M.R. Jaishankar, CMD said: “The second quarter has been encouraging with better sales volumes and a higher price realization in spite of tough market conditions. Brigade Group welcomes the Central Government’s landmark initiatives- GST, RERA & the path breaking ‘Demonetisation’ of Rs.500 & Rs.1000 currencies.
All this should help in improving the transparency levels in the business sectors in general & real estate in particular. The initiatives should help established Developers like Brigade with high corporate governance, apart from enhancing the credibility of the country amongst international investors.”
Brigade as a Group has completed 3 successful decades of ‘Building Positive Experiences’ for our customers and we will strive to constantly innovate our products and services.”
Consolidated H1 Performance (H1 FY 2016-17 Vs H1 FY 2015-16):Total Revenues stood at Rs. 925.5 crores vis-a-vis Rs. 914.6 crores, an increase of 1%
EBITDA stood at Rs. 262.1 crores vis-a-vis Rs. 249.1 crores, an increase of 5%.
EBITDA margin stood at 28.3% vis-à-vis 27.2%.
PBT stood at Rs. 80.2 crores vis-a-vis Rs. 104.4 crores, a decrease by 23%.
PAT stood at Rs. 52.3 crores vis-a-vis Rs. 65.4 crores, a decrease by 20%.
Consolidated Q2FY 2016-17 Vs Q1FY 2016-17 PerformanceTotal Revenues stood at Rs 459.2 crores vis-a-vis Rs 466.4 crores, a decrease of 2%
EBITDA stood at Rs 137.6 crores vis-a-vis Rs 124.7 crores, an increase of 10%.
EBITDA margin stood at 30.0% vis-à-vis 26.7%.
PBT stood at Rs. 46.2 crores vis-a-vis Rs. 34.1 crores, an increase of 36%.
PAT stood at Rs. 30.1 crores vis-a-vis Rs. 22.2 crores, an increase of 36%.
Consolidated Operational Performance
Real Estate space aggregating to 0.58 million sq. ft. with a total value of338 crores was sold during the second quarter ending 30th September, 2016. The average price realisation was Rs. 5,806 per sq. ft.
Leasing and Hospitality segments contributed Rs. 67.3 crores and Rs. 44.3 crores respectively to the consolidated revenues for the Second quarter ended 30thSeptember, 2016.
The Debt Equity ratio of the Company as on 30thSeptember, 2016 is 0.92:1. Credit rating of "A" has been assigned by both CRISIL and ICRA.
AWARDS & RECOGNITION
Brigade Groupreceived ‘India's Top Builders 2016’ Award at the Construction World Architects & Builders Awards.
Brigade Groupwon the 1st Runner Up for the South Region in the CII- National Excellence Practice Competition 2016.
Orion Mallswon 3 awards at the Times Retail Icon Awards - Bangalore 2016 - Emerging Mall - Orion East, Best Marketing & Promotion - Orion Mall @ Brigade Gateway and Best CSR Activities - Orion Mall @ Brigade Gateway
Aspen@ Brigade Orchards, won the ‘ICI (BC) – Birla Super Jury Appreciation’Award for Outstanding Concrete Structure of Karnataka 2016 in the Building Category.
Jaishankar won the ‘Real Estate Person of the Year Award’ at the 6th Annual Construction Week India Awards 2016 and was also recognised as a ‘Professional Developer Par Excellence’ by Association of Consulting Civil Engineers(India), Bangalore Centre for his contributions to the Society at REDECON 2016
Nirupa Shankar won the –‘Young Entrepreneur of the Year’ Award at the 6th Annual Construction Week India Awards 2016.
Suresh Kris was awarded the ‘CFO of the Year in Construction & Real Estate Sector’ at the Asia CFO Excellence Awards 2016.
For information on Brigade Group, please visit BrigadeGroup.com or contact us at firstname.lastname@example.org