Realty major Brigade Group clocks Rs. 5,064 crore profit by 42% surge from FY23

According to a regulatory filing on May 28, Bengaluru-based listed real estate developer Brigade Group has reported a profit before tax of Rs.211 crore in the fourth quarter of FY24. This represents a significant year-on-year increase of 234%. Additionally, the company's revenue for Q4 FY23 has surged by 102%, reaching Rs. 1,763 crore.

In the fiscal year 2024, the net profit amounted to Rs.569 crore, marking a significant growth of 105% in comparison to the previous financial year. During FY24, the company achieved a revenue of Rs.5,064 crore, reflecting a notable increase of 42 percent compared to FY23. Furthermore, the EBITDA for FY24 reached Rs.1,362 crore. 

The customers' total collections amounted to Rs 5,915 crore, experiencing a growth of 9 percent compared to FY23. The net cash flow from operations reached Rs 1,575 crore.

During the fourth quarter of FY24, the residential segment's revenue surged to Rs.1,390 crore, marking a significant 143 percent growth compared to Q4 FY23. The commercial segment achieved a revenue of Rs.247 crore in Q4 FY24, showing a 32 percent increase from Q4 FY23.

The hospitality segment experienced a slight revenue increase from Rs 112 crore to Rs.126 crore in Q4 of the previous year. In Q4 FY23, the EBITDA recorded a significant growth of 113 percent, reaching Rs.493 crore compared to Rs.231 crore.

The Managing Director, Brigade Group Pavitra Shankar said,"With a strong pipeline of 22 million sq ft of ongoing projects and around 16 million sq ft of upcoming projects, we are confident of sustained performance in the coming quarters as well. We continue to focus on Bengaluru, Chennai and Hyderabad for suitable land parcels."