Brigade Enterprises (532929) Q1 24/25 earnings summary

Executive summary

• Real estate, leasing, and hospitality remained primary growth drivers, with real estate sales reaching 1.15 million sq ft and revenue of INR 1,086 crore in Q1 FY25, and consolidated revenue for Q2 FY25 at ₹107,216 lakhs.

• Premiumization trend continued, with demand for spacious, amenity-rich properties and strong end-user participation.

• Recognized as a Great Place to Work for 14 consecutive years, included in Fortune India's Top 30 Future-ready Workplaces, and received multiple awards for workplace and safety excellence.

• Consolidated net profit for Q2 FY25 was ₹11,508 lakhs, with six-month net profit at ₹19,561 lakhs, up year-over-year.

• Hospitality subsidiary filed DRHP for IPO, reflecting sector optimism.

Financial highlights

• Q1 FY25 revenue from operations was INR 10,777 Mn, with total income at INR 11,134 Mn; Q2 FY25 consolidated revenue was ₹107,216 lakhs.

• Q1 FY25 PAT was INR 837 Mn with an 8% margin; Q2 FY25 net profit was ₹11,508 lakhs.

• Real estate segment turnover: INR 707 crore in Q1 FY25; Q2 FY25 real estate revenue was ₹66,506 lakhs.

• Lease rentals generated INR 2,594 Mn in Q1 FY25; Q2 FY25 leasing revenue was ₹29,685 lakhs.

• Hospitality revenue was INR 1,180 Mn in Q1 FY25 with 75% occupancy; Q2 FY25 hospitality revenue was ₹12,470 lakhs.

Outlook and guidance

• Launch trajectory for new projects remains consistent, with launches expected to be second-half weighted due to approval timelines.

• ESG strategy for Net Zero carbon abatement formulated and integrated into risk management.

• Hospitality subsidiary IPO subject to regulatory and market conditions.

• No specific pre-sales guidance provided for FY25.