Brigade Enterprises net profits increased by 102% for Q2
Brigade Enterprises net profits increased by 102% to Rs. 41 crores for the second quarter of the current fiscal as compared to the same period last year.
By Sobia Khan, ET Bureau | Updated:
BENGALURU: Brigade Enterprises net profits increased by 102% to Rs. 41 crores for the second quarter of the current fiscal as compared to the same period last year.
However, total revenue stood at Rs 346 crores vis-a-vis Rs 374 crores, a decrease of 7% for July-September quarter.
M.R Jaishankar, CMD of Brigade Enterprises said “The cut in interest rates announced by the Reserve Bank of India recently is a step in the right direction. This coupled with the festive season would provide the required fillip for Real Estate demand across the country.”
The Bangalore-based company sold Real Estate space aggregating to 0.712 million sq. ft with a total value of Rs.398 crores during the second quarter ending 30th September, 2015. The average price realisation was Rs. 5591 per sq. ft.
The company's Debt equity ratio stood at 0.89 as on 30th September, 2015.
However, total revenue stood at Rs 346 crores vis-a-vis Rs 374 crores, a decrease of 7% for July-September quarter.
M.R Jaishankar, CMD of Brigade Enterprises said “The cut in interest rates announced by the Reserve Bank of India recently is a step in the right direction. This coupled with the festive season would provide the required fillip for Real Estate demand across the country.”
The Bangalore-based company sold Real Estate space aggregating to 0.712 million sq. ft with a total value of Rs.398 crores during the second quarter ending 30th September, 2015. The average price realisation was Rs. 5591 per sq. ft.
The company's Debt equity ratio stood at 0.89 as on 30th September, 2015.
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