Brigade Group Q2 FY25 Earnings: ₹1,138 Crore Revenue, 45% Jump in Sales Price

Brigade Group reported a total revenue of ₹1,138 crore and a net profit (PAT) of ₹115 crore for Q2 FY25. The company achieved impressive pre-sales of approximately 1.68 million square feet this quarter. The average sales price reached ₹10,832 per square foot, marking a 45% increase compared to Q2 FY24. As of September 2024, Brigade has a pipeline of 25 million square feet in ongoing projects.

Real Estate Segment 

Revenue from real estate for Q2 FY25 was ₹727 crore, generating an EBITDA of ₹107 crore. Brigade achieved presales of 1.68 million square feet, valued at ₹1,821 crore. Real estate collections reached a record high of ₹1,470 crore for the quarter.

Leasing Segment 

In the leasing business, Brigade reported revenue of ₹292 crore and an EBITDA of ₹209 crore. The company’s portfolio maintained high occupancy at 97%, with total leased space reaching 8.46 million square feet, including hard options. Brigade’s flexible office arm, BuzzWorks, launched its first location in Hyderabad and now operates in Bangalore, Hyderabad, Chennai, Kochi, and GIFT City in Gujarat.

Hospitality Segment and Upcoming IPO 

Brigade’s hospitality arm, Brigade Hotel Ventures Limited, plans to raise funds through an IPO. The company has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) and the relevant stock exchanges as of October 30, 2024.

Consolidated Financial Highlights 

In Q2 FY25, Brigade’s total income was ₹1,138 crore, with EBITDA at ₹358 crore and PAT at ₹115 crore. Total collections for the quarter stood at ₹1,936 crore. Looking ahead, Brigade has planned to launch 16 million square feet over the next 4 quarters, including approximately 13 million square feet in the residential segment.

About Brigade Group 

Founded in 1986, Brigade Group is one of India’s prominent property developers with over 30 years of experience. The company has made a mark on South India’s skylines with projects in Bengaluru, Mysuru, Hyderabad, Chennai, and Kochi, covering sectors like residential, office, retail, and hospitality.

On November 14, 2024, Brigade Enterprises share price opened at ₹1,052.00, touching the day’s high of ₹1,084.60 as of 10:43 AM on NSE.

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