Brigade Enterprises has registered Rs 46.41 crore net consolidated profit after tax during the quarter ended December 31, 2020. The company had recorded a loss after tax of Rs 21.47 crore in the corresponding quarter previous fiscal, the company said in a BSE filing.
The company’s net consolidated income stood at Rs 933.19 crore in Q3 FY22, a growth of 43% from Rs 653.65 crore it recorded in the similar quarter last year.
“While Bangalore continues to be the primary contributor, Hyderabad and Chennai have made significant contributions to the business. The momentum in our residential business will continue with the launch of around 2.4 Mn sqft of new projects in the upcoming quarters,” said M R Jaishankar, CMD of the company.
During the quarter under review, the company reduced its real estate debt by Rs 52 crore with consistent decrease in cost of debt, the average cost of debt stood at 7.81%.
The company leased about 0.4 million sq ft during Q3 FY22 and has an active pipeline of approximately 0.8 million sq ft, it said in the regulatory filing.
During the quarter ended December 31, 2021, the paid-up equity share capital of the company has increased from Rs 229.85 crore to Rs 230.10 crore pursuant to allotment of 2,54,431 equity shares on exercise of stock options by employees.
During Q3 FY22, Celebrations LLP and Brigade Flexible Office Spaces LLP have been converted to private limited companies with effect from November 08, 2021 and November 22, 2021 respectively.
