Brigade Group announces Q2 FY 17 Financial Results
Brigade Enterprises Limited’s consolidated revenues for six months ended 30th September, 2016 was Rs. 925.5 crores. The Consolidated Net Profits stood at Rs. 52.3 crores as against Rs. 65.4 crores. “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.” said M.R Jaishankar, CMD.
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