Brigade Enterprises Ltd. reports Rs 708 Crores of revenue with Rs.63 Crores of profit
Brigade Enterprises Limited’s Consolidated Revenue for the first quarter ended 30th June, 2018wasRs.708 crores and the Consolidated Net Profits (after minority interest)was Rs.63 crores.
Commenting on the company’s performance, Mr. M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited, said“We have adopted INDAS115 for revenue recognition which has been mandated by Ministry of Corporate Affairs for all real estate companiesw.e.f. 1st April, 2018. The financial performance of the Group for Q1 FY19 is good and we expect the performance toscale up in the coming quarters. Further the Sales volume has gone up and our annual Brigade Showcase event held recently witnessed good response and we are optimistic that the same momentum will continue going forward.”
Consolidated Operational Performance
Future Outlook
Launches to the extent of 13million sq. ft are planned, of which Residential space aggregating to 8million sqft, Commercial & Retail space totalling to 5million sqft and Hospitality would be2 hotels with ~300 keys.
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