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Brigade Enterprises reported a 37 per cent year-on-year rise in consolidated net profit to INR 216.94 crore in the first quarter of FY27, compared with INR 157.95 crore in the corresponding quarter of the previous fiscal year. However, consolidated total income declined 11.5 per cent to INR 1,179.22 crore from INR 1,332.86 crore. The company recorded overall sales of INR 1,061 crore during the quarter, while average sales realisation rose 21 per cent to INR 14,256 per square foot. Its real estate and leasing businesses also reported growth in key operating parameters.
Bengaluru-based real estate developer Brigade Enterprises Ltd reported a 37 per cent increase in consolidated net profit to INR 216.94 crore for the first quarter of FY27. The company had recorded a net profit of INR 157.95 crore in the same quarter of the previous fiscal year, according to its regulatory filing.
Despite the increase in profit, Brigade Enterprises' consolidated total income declined to INR 1,179.22 crore during the quarter from INR 1,332.86 crore in the corresponding quarter a year earlier. This represents a decline of around 11.5 per cent year-on-year.
The company recorded overall sales of INR 1,061 crore during the quarter. Average sales realisation increased 21 per cent year-on-year to INR 14,256 per square foot, indicating higher realisation from the company's property sales compared with the year-ago period.
The real estate segment contributed revenue of INR 707 crore during the quarter, while its EBITDA stood at INR 150 crore, marking a 45 per cent increase from the corresponding period a year earlier. The segment's EBITDA margin was 21 per cent.
The leasing business also recorded an increase in revenue. Revenue from the segment rose 9 per cent year-on-year to INR 328 crore from INR 300 crore in the first quarter of the previous fiscal year.
Brigade Enterprises has residential, commercial and hospitality interests, with Bengaluru remaining one of its key markets. The company's recent business activity has also included expansion of its residential portfolio. In July, Brigade Group launched Brigade Misty Greens, a residential development in Mysuru with a stated revenue potential of more than INR 300 crore.
The company's performance in the latest quarter comes after a year in which its residential business remained an important contributor to growth. In the first quarter of FY26, Brigade had reported real estate revenue of INR 892 crore, up 22 per cent year-on-year, while pre-sales stood at INR 1,118 crore. Average realisation during that period was INR 11,782 per square foot.
The latest results therefore show a mixed quarterly performance, with profit and property realisations improving even as consolidated income remained lower than the year-ago level. Growth in the real estate segment and leasing revenue provided support to the quarter's operating performance.
Source PTI
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