LAST UPDATED: May 19, 2021, 2:58 p.m.
New Delhi (Anish Yande): Shares of Brigade Enterprises inclined by over 13 percent on Wednesday’s trading session following the announcement of results for the March quarter of 2021.
Brigade Enterprises’ share opened at Rs 283.40 per share at an increase of 13.68% on BSE. The stock gained 7% in the previous 3 sessions. The market cap of the real estate developer rose to Rs 5,521 crore.
Brigade Enterprises net profit rises to Rs 19.58 crores:
Brigade Enterprises recorded a consolidated net loss of Rs 11.02 crore in the March quarter of FY20. The real estate developer’s consolidated net profit rose to Rs 19.58 crore in the fourth quarter ended March 2021. Brigade Enterprises had recorded a growth in net profit due to robust residential sales.
For the full year FY21, Brigade Enterprises’ net loss was reported at Rs 46.32 crore. The net profit was at Rs 130.58 crore in the previous year.
The real estate developer’s total income was posted at Rs 644.34 crore in the March quarter of 2020 that increased to Rs 820.86 crore in the March quarter of FY21. The total income rose by 27.39 percent on a year-on-year basis.
The total income of Brigade Enterprises fell to Rs 2,010.39 crore in the financial year 2021 from Rs 2,681.56 crore in the 2019-20 financial year.
Brigade Enterprises sales at an all-time high:
Brigade Enterprises sales are at an all-time high yearly sales at 4.60 million square feet amounting to Rs 2,767 crore during FY21. The sales of the real estate developer were at Rs 2,377 crore during the previous fiscal.
The company had reported the all-time high pre-sales of 1.66 million square feet valued at Rs 1,018 crore in Q4 FY21. Sales in the Real estate segment grew to Rs 642.10 crore as compared to Rs 462.14 crore in the last year.
Brigade Enterprises’ board of directors recommended a final dividend of Rs 1.20 per equity share of Rs 10 each. The dividend is subject to approval of shareholders in the upcoming Annual General Meeting. The dividend will be paid within 30 days from the date of shareholders’ approval.
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