Saturday, June 15News That Matters

“Our Office segment recorded the best leasing quarter post-COVID and we are hopeful to finishing the financial year stronger.”-Pavitra Shankar, Managing Director, Brigade Enterprises Ltd.

Brigade Group’s Total Revenue in Q3 FY24 grows by 41% to ₹ 1,208 Crores from Q3
FY23 and Profit After Tax grows by 31% to ₹ 56 crores from Q3 FY23
Bengaluru, February 6, 2024: Brigade Group reported a total revenue of ₹ 1,208 Crores and Profit
After Tax of ₹ 56 Crores in Q3 FY24. Net bookings in the real estate segment of Q3 FY24 is 1.7 mn sft
with a sale value of ₹1,524 Crores. Collections for Q3 FY24 stood at ₹ 1,394 crores.
“We have witnessed healthy growth across our business verticals. The momentum in the Residential
business continues to exhibit healthy growth both in terms of pricing as well as volume and continues
to look positive with a strong pipeline of launches for Q4 FY24. Our Office segment recorded the best
leasing quarter post-COVID and we are hopeful to finishing the financial year stronger. Furthermore,
our Retail business has seen good leasing traction and Hospitality has seen improvements across the
board.” said Pavitra Shankar, Managing Director, Brigade Enterprises Ltd.
The company also announced that the Residential segment will witness launches of about 10.8 Mn sft
with an estimated gross development value of around ₹ 10,000 crores in the next four quarters.
Furthermore, about 5 Mn sft of Office and Retail projects are planned to be launched in the next 4
quarters, The annualised exit rentals is estimated to be in the range of ₹ 500 crores from these
launches. Similarly, the Hospitality segment plans to commence construction of about 1,000 rooms
across 4 projects in next 1 year.

REAL ESTATE
Achieved its strongest performance ever for Q3 of a Financial year with the sales of 1.7 Mn Sft with a
sale value of ₹ 1,524 Crores with absorption in Bengaluru and Chennai. During the quarter, revenue
stood at ₹ 839 Crores which has grown by 50% compared to Q3 FY23 and EBITDA stood at ₹ 73 Crores
for the quarter.
LEASING
In Q3 FY24, the Group leased 0.49 Mn Sft (Including hard option), achieving 95% occupancy in the
overall portfolio. During the quarter, revenue stood at ₹ 247 Crores which has grown by 24%
compared to Q3 FY23 and EBITDA stood at ₹179 Crores.
HOSPITALITY
In the Q3 FY24, Hospitality revenues have surged by an impressive 22% to ₹ 123 Crores, ARR has shown
a 7% increase, and occupancy has experienced an 5% rise compared to Q3 FY23. EBITDA Stood at
₹ 45 Crores.

Q3 FY24 CONSOLIDATED FINANCIAL HIGHLIGHTS
Revenue in Q3 FY24 stood at ₹ 1,208 Crores as against ₹ 859 Crores in Q3 FY23; Increase of 41%
EBITDA stood at ₹ 296 Crores in Q3 FY24 as against ₹ 246 Crores in Q3 FY23; Increase of 20%
PAT in Q3 FY24 stood at ₹ 56 Crores as against ₹ 43 Crores in Q3 FY23; Increase of 31%