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Brigade Enterprises recorded a net consolidated profit after tax for the quarter ending on March 31, 2023 of Rs. 63.09 cr. It recorded a net consolidated loss after taxes of Rs. 11.63 crore in the similar period of the prior fiscal year. Net consolidated total income for the company was Rs 872.11 crore in Q4 FY23, down by 9.60% from Rs 964.72 crore in the same period last year.
"We have a strong pipeline of ongoing projects totalling about 20 million square feet and upcoming projects totalling 7.5 million square feet. We are sure that we can maintain the trend and boost growth in the upcoming fiscal year," stated the company's managing director, Pavitra Shankar.
The shareholders must approve a final dividend of Rs 2 per equity share (20%) of Rs 10 each as recommended by the board of directors. The corporation sold 6.3 million square feet of real estate during the fiscal year that ended in March 2023. The overall value increased by 36% to Rs 4,109 crore from Rs 3,023 crore in the prior fiscal year. The total revenue for FY23 was Rs 5,424 crore. The company's cash flow from operating activities in FY23 was Rs 1,517 crore, up by 35% from FY22.
Revenues in the leasing sector of Brigade increased by 26%, from Rs 596 crore in FY22 to Rs 752 crore in FY23. Office leasing increased by 33% from 0.9 million square feet to 1.2 million square feet in FY23. The company's footfall in the retail malls climbed by 106% over the previous fiscal years and they saw a 78% increase in retail sales consumption in FY23 compared to FY22.
The occupancy rate for the company's hospitality portfolio increased to 69% from the pre- covid occupancy of 62%. ARR increased by 69% over ARR of FY22 and reached 112% of pre-covid levels during FY23. Revenue increased by 120% from Rs 179 crore in FY22 to Rs 394 crore in FY23. The net debt to equity ratio was 0.55: 1 as of March 31, 2023. The debt cost on an average was 8.67%. Brigade Enterprises' residential division has no debt because of strong sales and collections.
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