Brigade Enterprises Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 06, 2024 at 06:27 am EST
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Brigade Enterprises Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 11,737.7 million compared to INR 8,203.1 million a year ago. Revenue was INR 12,081.8 million compared to INR 8,586.3 million a year ago. Net income was INR 734.9 million compared to INR 569 million a year ago. Basic earnings per share from continuing operations was INR 3.18 compared to INR 2.47 a year ago. Diluted earnings per share from continuing operations was INR 3.16 compared to INR 2.46 a year ago.
For the nine months, sales was INR 31,943.2 million compared to INR 26,020.4 million a year ago. Revenue was INR 33,015.3 million compared to INR 26,911 million a year ago. Net income was INR 2,455.2 million compared to INR 2,221.6 million a year ago. Basic earnings per share from continuing operations was INR 10.64 compared to INR 9.64 a year ago. Diluted earnings per share from continuing operations was INR 10.6 compared to INR 9.61 a year ago.
Brigade Enterprises Limited is an India-based property developer. The Company is engaged in the business of real estate development, leasing and hospitality and related services. The Company's segments include Real Estate, Lease Rentals and Hospitality. The Real Estate segment is involved in the property development of residential, commercial - office spaces and mixed-use projects. The Lease Rentals segment develops commercial - office and retail spaces and leases out the same to third parties. The Hospitality segment develops hotel projects which are operated by international operators. Its real estate portfolio includes offices, special economic zone (SEZ), retail, hospitality, townships, clubs, conference centers, senior housing, schools and a real estate technology accelerator program. It has a range of hospitality assets, including clubs, convention centers and hotels. Its retail portfolio includes Orion Malls, neighborhood malls, standalone retail and multiplex/support retail.