Brigade Enterprises (532929) Q3 24/25 earnings summary

Executive summary

• Q3 FY 2025 delivered record pre-sales of 2.19 million sq ft, up 29–30% year-over-year and sequentially, with a sales value of INR 2,492 crores, and major launches including Brigade Gateway Hyderabad and India's first net-zero residential project, Brigade Citrine.

• Leasing activity remained strong with 98–99% occupancy and rental collection, driven by technology, engineering, and manufacturing sectors.

• Retail segment saw an 8% year-on-year increase in mall consumption, a 20% rise in cinema sales, and record single-day footfalls during the festive season.

• Approved unaudited consolidated and standalone financial results for Q3 and nine months ended 31 Dec 2024, with unmodified review reports from statutory auditors.

• Appointed Ms. Padmaja Chunduru as Additional Non-Executive Independent Director for five years, subject to shareholder approval.

Financial highlights

• Q3 FY 2025 consolidated revenue was INR 1,530 crores (INR 15,297 million), up 27% year-over-year; EBITDA rose 62% to INR 479 crores (INR 4,794 million), with a margin of 31%.

• Consolidated PAT for Q3 FY 2025 reached INR 236 crores (INR 2,362 million), up 221% year-over-year; nine-month PAT was INR 431 crores (INR 4,311 million).

• Real estate collections for Q3 FY 2025 were INR 1,777 crores (INR 17,771 million), up 27% year-over-year.

• Standalone Q3 FY 2025 PAT was INR 911 million, up 93% year-over-year.

• Paid-up equity share capital increased to INR 24,425 lakhs due to QIP and ESOP allotments.

Outlook and guidance

• Launch pipeline of 11.87–15 million sq ft over the next four quarters, primarily residential, with 4 million sq ft in Q4 FY 2025 across Bangalore, Chennai, and Mysore.

• Focus remains on Bangalore, Hyderabad, and Chennai, with potential expansion to Tier 2 cities; no immediate plans to enter new geographies.

• Brigade Hotel Ventures Limited is preparing for an IPO, subject to regulatory approvals and market conditions.

• Targeting annual growth of around 15% in value or area.