BRIGADE GROUP RECORDS HIGHEST EVER SALES OF ₹6,013 CRORES & TOTAL REVENUE OF ₹5,064 CRORES in FY24; PROFIT BEFORE TAX OF ₹569 CRORES

Brigade Group reported its highest ever real estate sales of 7.55 Mn sft for the financial year ended March 2024. Total revenue stood at ₹5,064 Cr which grew by 42% over FY23. EBITDA stood at ₹1,362 Cr which grew by 39% over FY23. Total collections stood at ₹5,915 Cr which grew by 9% over FY23. Net cash flow from operations stood at ₹1,575 Cr.

In FY24, the Real Estate business registered revenues of ₹3,662 Cr which is an increase of 51% over FY23. The leasing vertical grew by 25% over FY23 with revenues of ₹938 Cr with overall occupancy standing at 97%. Growing by 18% over FY23, the hospitality portfolio clocked revenues of ₹464 Cr, with occupancy at 72% and ARR of ₹6,483 during FY24.

Commenting on the Group’s performance, Pavitra Shankar, Managing Director, Brigade Group, said, “All verticals of the company contributed significantly to our growth in FY24 on the back of robust demand. With a strong pipeline of 22 Mn sft of ongoing projects and around 16 Mn sft 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 that are at par with our quality standards and our consumer-first focus.”

FY24 HIGHLIGHTS (Consolidated)

Revenue for FY 24 stood at ₹5,064 Cr; an increase of 42% over FY23.

EBITDA for FY 24 stood at ₹1,362 Cr; an increase of 39% over FY23.

PBT for FY 24 stood at ₹569 Cr; an increase of 105% over FY23.

Q4 FY24 HIGHLIGHTS (Consolidated)

Revenue for Q4 FY24 stood at ₹1,763 Cr; an increase of 102% over Q4 FY23

Real estate revenue grew to ₹1,390 Cr in Q4 FY24; an increase of 143% over Q4 FY23.

Leasing revenue grew to ₹247 Cr in Q4 FY24; an increase of 32% over Q4 FY23.

Hospitality witnessed a growth of 13% from ₹112 Cr in Q4 FY23 to ₹126 Cr in Q4 FY24.

EBITDA stood at ₹493 Cr in Q4 FY24 as against ₹231 Cr in Q4 FY23, an increase of 113%. PAT during Q4 FY24 stood at ₹211 Cr as compared to ₹63 Cr in Q4 FY23, an increase of 234%.

Collections for Q4 FY24 stood at ₹1,838 Cr as compared to ₹1,463 Cr in Q4 FY23.

Final Dividend

The Board of Directors has recommended a final dividend of ₹2/- per equity share (20%) of ₹10/- each for the Financial Year 2023-24.

Induction of Independent Director

Mr. Abraham Stephanos has been inducted as an Independent Director for a period of five years with effect from May 28, 2024, subject to shareholders approval.

Mr. Abraham Stephanos holds a Bachelor of Science degree in Mechanical Engineering with a Post Graduate Diploma in Management from IIM, Calcutta (specialisation in Marketing and Strategic Management), and has around 4 decades of rich and versatile experience including sales and marketing. He was associated with the Tata Group for over 25 years in various capacities. He was Managing Director of Tata Steel Downstream Products Ltd for around 10 years.