Shares of Brigade Enterprises Ltd surged 6% on 6 August after the company announced its quarterly earnings for the April-June quarter. 

The company reported an almost four-fold increase in net profit to Rs 81 crore for the quarter under review from Rs 22 crore reported in the same quarter of the previous fiscal year. 

The company’s revenue from operations during the quarter stood at Rs 1,113 crore, marking a 62% year-on-year increase against Rs 685.43 crore reported during the corresponding quarter of the last fiscal year. 

The company reported presales at Rs 1,086 crore during the quarter and a sales volume of 1.15 million square feet. The average realisations stood at Rs 9,483 per square foot during Q1FY25. 

The company added, “Nation-wide general election resulted in sluggishness in the revenue; fewer auspicious dates during the quarter added to the slower growth rate.”

The company’s total expenses during the quarter increased by 53% YoY to Rs 1,005 crore, compared to Rs 655 crore incurred during Q1FY24. 

Pavitra Shankar, Managing Director, Brigade Enterprises Ltd, said, “Real estate segment continued to be the primary driver of our growth, while other segments made healthy contributions.”

At 12:53 pm, the shares of Brigade Enterprises were trading 4.74% higher at Rs 1,177.50 on NSE.

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