Brigade Enterprises reports highest ever presales of 1.53 mn sq ft at Rs 923 cr in December quarter

BENGALURU: Realty developer Brigade Enterprises has reported its highest ever presales of 1.53 million sq ft valued at Rs 923 crores during the quarter ended December. The company reported revenue growth of 103% with Rs 654 crores.

The residential business continued to report positive numbers, with on-quarter pre sales value growth of 55%. During the quarter, the developer reduced its real estate debt by Rs 141 crores bringing its average cost of debt down to 9%.

“We witnessed resilience across all verticals of our business during the quarter, with the residential segment taking the lead. The comeback in the residential sector has been sharply driven by the current favourable environment for consumers to buy a home. Our total collections for the quarter stood at Rs 682 crores,” said M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises


The real estate segment achieved the highest presales in a quarter of 1.53 million sq ft during the period with realization of Rs 6,022 per sq ft, up 3% compared to the previous quarter. Mid-segment housing with ticket size range of Rs 50 lakhs to Rs 1.5 crore continued to show strong momentum in the last quarter.