Brigade Enterprises reports a 37% rise in net profit for the June quarter amid softer sales, as higher pricing offsets weaker volumes across its diverse portfolio.
Brigade Enterprises said its quarterly pre-sales eased as fewer homes were sold, even as pricing strengthened. According to Business Standard, the Bengaluru-based developer booked sales of ₹1,061 crore in the April-June quarter, down 5% from ₹1,118 crore a year earlier, while volume slipped 22% to 0.74 million sq ft. The company’s average realisation rose 21% to ₹14,256 per sq ft, indicating firmer pricing across its portfolio.
The softer bookings came alongside a stronger bottom line. Brigade reported a 37% rise in consolidated net profit to ₹216.94 crore for the quarter ended June, compared with ₹157.95 crore a year earlier, even as total income fell to ₹1,179.22 crore from ₹1,332.86 crore, Business Standard reported. The combination suggests the developer has been able to protect margins despite weaker sales volumes in the period.
Founded in 1986, Brigade Group has built housing and commercial projects across Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram and GIFT City. The company also has interests in hospitality and education, giving it a wider footprint than many pure-play residential developers, according to the reports.
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