Brigade Enterprises sales bookings up 9 pc to record Rs 3,022 cr in FY22
Realty firm Brigade Enterprises Ltd's sales bookings grew by 9 per cent during the last fiscal year at record Rs 3,022.7 crore on better housing demand.
In its investors presentation, the Bengaluru-based developer said: ''Achieved highest ever pre-sales of ~4.7 million sq ft with sale value of Rs 30,227 million in FY22, an increase of 9% from FY21''.
The average realisation increased by 7 per cent Y-o-Y (year-on-year) to Rs 6,411 per square feet in FY22.
Out of the total sales bookings, sales bookings in housing segment rose 11 per cent to Rs 2,950.5 crore during the last fiscal year from Rs 2,657.9 crore in 2020-21.
The sales bookings in commercial segment fell 34 per cent to Rs 722 crore in 2021-22 from Rs 1,087 crore in the previous year.
Brigade Enterprises' consolidated net profit stood at Rs 82.8 crore in 2021-22 as against a net loss of Rs 46.3 crore in the previous year. Total income increased to Rs 3,065.5 crore from Rs 2,010.4 crore in 2020-21. M R Jaishankar, Chairman and Managing Director, Brigade Enterprises, said: ''It is very encouraging to end FY22 on a good note with the best ever sales and collections, till date.'' This is notwithstanding the second and third waves of COVID-19 as well as an increase in construction costs, he added.
''Despite price increases, the residential sales momentum has continued reflecting positive buyer sentiment and the strength of our brand. Similarly, there has been demand revival in the leasing segment and positive momentum in the hospitality segment. We feel confident that the strong pipeline of our upcoming projects will help maintain the momentum in the coming months,'' Jaishankar said.
Almost all the real estate developers have reported a record sales bookings during the last fiscal year. Bengaluru-based Prestige Estates reported a 90 per cent increase in sales bookings to a record Rs 10,382.2 crore during last financial year. This is likely the highest sales bookings in the year among the listed real estate developers. Mumbai-based Macrotech Developers, which markets its properties under Lodha brand, reported a 51 per cent growth in sales bookings to a record Rs 9,024 crore during the fiscal year.
Godrej Properties' sales bookings increased 17 per cent to Rs 7,861 crore, while Puravankara Ltd's sales bookings rose 9 per cent in the last fiscal year to record Rs 2,406 crore.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)