The real-estate company’s revenue also fell 21 percent year-on-year to Rs 685 crore in Q1FY24. Meanwhile, its net sales from residential projects rose 33 percent YoY to Rs 991 crore in the same period.
Shares of Brigade Enterprises fell over 4.18 percent to Rs 563.85 at 9.17 am on August 9 after the company’s net profit fell 65 percent year-on-year (YoY) in the April-to-June quarter. Brigade Enterprises’ consolidated net profit came at Rs 38.5 crore for Q1FY24.
Company’s revenue also fell 21 percent YoY to Rs 685 crore in Q1FY24. Its net sales from commercial projects was down at Rs 4.3 crore in Q1FY24 as compared with Rs 71 crore in Q1FY23. Muted leasing lowered sales in the said quarter. Brigade has developed real-estate across South India in Bengaluru, Mysuru, Hyderabad, Chennai and Kochi with developments across residential spaces, offices, retail and hotels.
