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Brigade Enterprises reports 46% increase in sales bookings in FY24

Brigade Enterprises Ltd on Tuesday reported a 46 per cent annual increase in its sale bookings to record Rs 6,013 crore in the last fiscal year, mainly due to better demand for its housing projects. Its sale bookings stood at Rs 4,109 crore in the 2022-23 fiscal.

In a statement, Brigade Enterprises said it has achieved pre-sales of Rs 6,013 crore in FY24 and Rs 2,243 crore in the fourth quarter of FY24 – the highest ever for both in terms of a quarter as well as financial year.Average sales realisation rose 23 per cent annually last fiscal year.

“The residential business continued to drive sales growth, with all other verticals of the company contributing significantly and finishing strong in the financial year,” Pavitra Shankar, Managing Director of Brigade Enterprises, said.

The company has been able to achieve its best-ever operational performance last fiscal, she said.

“we aim to leverage this performance in FY25. Our outlook is optimistic, as we believe demand for residential space will continue to be strong,” Shankar said.

Brigade is aggressively pursuing land acquisition opportunities in its target markets and continues to add high-quality assets to its land bank, she said.

Brigade Group has a healthy pipeline of new launches of around 12.61 million square feet in residential, 6.33 million square feet in commercial and 1.06 million square feet in hospitality.

 Established in 1986, Brigade Enterprises Ltd is one of India’s leading property developers.

Brigade has developed many projects in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru.

It is into developments of residential, office, retail and hotel projects.

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