Bengaluru, May 15, 2019: Brigade Enterprises Limited’s Consolidated Revenues for the fourth quarter ended 31st March 2019 was Rs. 778 crores as compared to Rs. 698 crores for Q3FY19, an increase of 11%. Consolidated Net Profit (after minority interest) was Rs.60 crores for Q4FY19 as compared to Rs.49 Crores for Q3FY19, an increase of 22%.
Real Estate space aggregating to 2.96 Million sft with total value of Rs. 1,644 Crores was sold during FY19 which is 89% higher as compared to FY18. Space aggregating to 0.96 Million sft with total value of Rs. 520 Crores was sold during Q4 FY19 which is 23% higher as compared to Q3 FY19.
Commenting on Company’s performance, Mr. M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited:
“FY19 has been a good financial year for Brigade Group. Our performance across all the verticals we operate in – be it Residential, Office or Hotels, have seen robust demand and the same is witnessed in our Operational and Financial results. Despite regulatory changes, we were able to increase sales through concentrated sales efforts. We believe FY20 will be another strong year of growth for us”.
Financial Highlights
Consolidated Performance FY19:
➢ Total Revenues – Rs. 3,027 Crores
➢ EBDITA – Rs.844 Crores.
➢ EBDITA Margin – 28%.
➢ PBT – 426 Crores
➢ PAT after MI – Rs. 240 Crores.
➢ Net cash flow from Operating activities increased by 184% in FY19 when compared to FY18. ➢ Debt of Residential segment reduced by 14% in FY19 compared to FY18.
Since there is a change in accounting method, current year numbers are as per IND AS 115 which cannot be compared with financial numbers of previous year.
Consolidated Q4FY19 Performance
➢ Total Revenues – Rs. 778 Crores
➢ EBDITA – Rs.233 Crores.
➢ EBDITA – 30%.
➢ PBT – Rs. 114 Crores
➢ PAT after MI – Rs. 60 Crores.
Since there is a change in accounting method, current quarter numbers are as per IND AS 115 which cannot be compared with financial numbers for the same period in previous year.
Dividend
The Board has recommended a dividend of Rs 2/- per equity share (20%)
Operational Highlights:
• Achieved 2.96 Mn sq ft. of sales in FY19 compared to 1.57 Mn sq ft. in FY18 (89% increase)
• Sale value of Rs. 1,644 Crores in FY19 vs Rs. 896 Crores in FY18. (83% increase)
• Achieved 0.96 mn sq ft. of new sales in Q4 FY19 vs 0.43 mn sq ft. in Q4 FY18 (125% increase)
• Sale value of Rs. 520 Crores in Q4 FY19 vs Rs. 235 Crores in Q4F Y18 (121% increase)
• Leased 1.2 Mn sq ft. of new office area in FY19 which is estimated to yield rental of Rs.90 Crores.
• Four Points by Sheraton, Kochi opened in Jan-19 with 218 keys, taking total operational keys to 1194 across 6 hotels
• EBITDA for Hospitality segment increased to 35% in Q4 FY19 vs 21% in Q3 FY19. NEW LAUNCHES IN Q4 FY19
• Launched Eden at Brigade Cornerstone Utopia, Whitefield Sarjapur road –0.73 Mn. Sft.
• Brigade launched Buzzworks, our new brand in Coworking spaces
• Brigade Group signed an MOU with Technopark, Government of Kerala, for developing the iconic World Trade Center (WTC) at Technocity, Thiruvananthapuram with a potential to build over 2 mn. sq ft.
• Total area of 5.8 Mn. Sq. ft. has been launched in FY 19. Outlook The Group is currently developing about 18.74 million Sq. ft across Residential, Office, Retail and Hotel segments. Further, launches to the extent of about 8.6 million Sq. ft. are planned for the financial year 2019-20 across the 4 segments including about 2.7 million sq. ft in the affordable housing segment. Brigade El Dorado in North Bangalore, with even 3 bedroom units priced below Rs. 45 lakhs, will be launched shortly. Awards and Recognitions
• Brigade Opus was awarded the IGBC Green Building – Platinum Certification • Brigade was awarded as one of the Hot 50 Brands in Bengaluru under the Large Enterprise category at the Bengaluru Brand Summit by Paul Writer.
• Brigade Nalapad Center was awarded the ‘Best Commercial Project’ at the CNBC-AWAAZ Real Estate Awards – SOUTH ZONE
• Ms. Nirupa Shankar was awarded the Women Entrepreneur of the Year – Retail at the Times Power Women 2019 Awards
Corporate Comm India(CCI Newswire)
