Brigade Hotel Ventures Reports Impressive Q3 Profit Leap

Brigade Hotel Ventures Ltd., a part of the Brigade Group, reported a notable increase in consolidated net profit for Q3, achieving Rs 21.72 crore compared to Rs 9.62 crore in the prior year. Revenue and expenses also saw rises, attributed to various strategic developments.

Brigade Hotel Ventures Ltd. (BHVL), the hospitality division of Brigade Group, has posted a remarkable increase in its consolidated net profit for the third quarter ending December. The company recorded a profit of Rs 21.72 crore, significantly up from Rs 9.62 crore in the same period the previous year.

The company's revenue from operations also saw a positive shift, reaching Rs 138.76 crore, up from Rs 124.35 crore in the previous year's corresponding quarter, as revealed in a regulatory filing late Wednesday. However, this growth also came with increased total expenses, which rose to Rs 114.06 crore from Rs 112.26 crore a year ago.

Nirupa Shankar, Managing Director of BHVL, expressed optimism about future growth, projecting it to be driven by existing hotels and new ventures, including upcoming F&B projects and hotel expansions. With nine luxury and upscale hotels in the pipeline, BHVL is poised for diversified and sustained growth.