Brigade Enterprises Q4 net jumps 125 per cent

BANGALORE: Real estate firm Brigade Enterprises has reported 254% increase in fourth quarter profit for the fiscal year 2013 at Rs 28.4 crore. Net sales for the January-March quarter rose 125% over the year-ago period to Rs 299 crore.

" Residential space aggregating to 0.54 million sq. ft with a total value of Rs. 232 crore was sold during the quarter ended March 31, 2013. The average price realisation was Rs. 4,324 per sq. ft, " the company said in a media statement.

As per the statement, retail and hospitality segments contributed Rs. 28.2 crore and Rs. 32 crore respectively to the revenues for the fourth quarter ended March 31, 2013.

For the full year ended March 31, 2013 , revenue jumped by 29% at Rs 788 crore, while net sales was at Rs 64.2 crore as against Rs 58.1 crore for FY 2013. " In FY 2013-14, 8 million sq. ft. of new project launches are planned. Of this, residential launches will be about 6.70 million sq. ft and commercial space will be 1.30 million sq. ft," the media statement said.

The Board of Directors of the Company have recommended a dividend of Rs 1.50 (15%) per equity share.

The debt equity ratio of the company as on March 31, 2013 is at 0.82 : 1