Press Release16 Apr 2024, 10:50 pm
Brigade Enterprises Ltd. Reports Impressive Performance in FY24: Presales of INR 6,013 Cr, Real Estate Sales Volumes of 7.55 Mn. Sft.
AI Summary
Brigade Enterprises Ltd. reported impressive financial performance for the year ended March 31, 2024. The company achieved record-breaking presales of INR 6,013 Cr and real estate sales volumes of 7.55 Mn. Sft. In other sectors, leasing grew by 14%, with 1 Mn. Sft. of additional area leased over FY23. Occupancy in the hospitality vertical stood at 72%, with an 8% growth in average room rates (ARR). In FY24, Brigade launched 5.26 Mn. Sft. in the Residential vertical and 0.94 Mn. Sft. in the Commercial vertical. The company aims to leverage this performance in FY25.
Key Highlights
- Presales of INR 6,013 Cr and INR 2,243 Cr in Q4 FY24, an all-time high.
- Real Estate sales volumes of 7.55 Mn. Sft. in FY24 and 2.72 Mn. Sft. in Q4 FY24.
- Operational Leasing portfolio growth by 14% YoY.
- Hospitality vertical: 72% occupancy, 8% ARR growth in FY24.
- RES: Launched 5.26 Mn. Sft. in FY24, COM: 0.94 Mn. Sft. in FY24