Realty firm Brigade Enterprises posts Rs 16 cr loss in Dec quarter

Photo: Bloomberg

Realty firm Brigade Enterprises Ltd on Thursday reported a consolidated net loss of Rs 16.12 crore for the quarter ended December.

Its net profit stood at Rs 49.33 crore in the year-ago period.

Total income rose to Rs 653.65 crore in the third quarter of this fiscal from Rs 568.63 crore in the corresponding period of the previous financial year, according to a regulatory filing.

The company recorded its highest ever sales bookings of 1.53 million sq ft with a total value of Rs 923 crore in the third quarter of this fiscal.

"We witnessed resilience across all verticals of our business during the quarter, with the residential segment taking the lead. The comeback in the residential sector has been sharply driven by the current favourable environment for consumers to buy a home.

"Our total collections for the quarter stood at Rs 682 crore," Brigade CMD M R Jaishankar said.

Brigade Enterprises is a leading real estate developer in South India. It has presence in the cities of Bengaluru, Mysuru, Hyderabad, Chennai and Kochi with development across residential, office, retail, hospitality and education sectors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel