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Brigade Enterprises Ltd Q4FY21 consolidated net profit at Rs. 39.57 crore

Posted On: 2021-05-18 12:57:31 (Time Zone: UTC)


BRIGADE ENTERPRISES LTD. has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.820.86 crores during the period ended March 31, 2021 as compared to Rs.653.65 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.39.57 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.(16.12) crores for the period ended December 31, 2020.

The company has reported EPS of Rs.1.87 for the period ended March 31, 2021 as compared to Rs.(0.76) for the period ended December 31, 2020.

FinancialsQ4 FY20-21Q3 FY20-21% Change
Total Income₹ 820.86 crs₹ 653.65 crsUp Tick 25.58%
Net Profit₹ 39.57 crs₹ (16.12) crsUp Tick 345.47%
EPS₹ 1.87₹ (0.76)Up Tick 346.05%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.820.86 crores during the period ended March 31, 2021 as compared to Rs.644.34 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.39.57 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.2.68 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.1.87 for the period ended March 31, 2021 as compared to Rs.0.12 for the period ended March 31, 2020.

FinancialsQ4 FY20-21Q4 FY19-20% Change
Total Income₹ 820.86 crs₹ 644.34 crsUp Tick 27.4%
Net Profit₹ 39.57 crs₹ 2.68 crsUp Tick 1376.49%
EPS₹ 1.87₹ 0.12Up Tick 1458.33%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.2010.39 crores during the 12 months period ended March 31, 2021 as compared to Rs.2681.56 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.(46.32) crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.130.58 crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.(2.24) for the 12 months period ended March 31, 2021 as compared to Rs.6.34 for the 12 months period ended March 31, 2020.

FinancialsYear Ended FY20-21Year Ended FY19-20% Change
Total Income₹ 2010.39 crs₹ 2681.56 crsDown Tick -25.03%
Net Profit₹ (46.32) crs₹ 130.58 crsDown Tick -135.47%
EPS₹ (2.24)₹6.34Down Tick -135.33%

Brigade Enterprises Ltd., reported an all-time high, yearly sales at 4.60 Mn Sqft with a total value of Rs. 2767 Cr against Rs. 2377 Cr during the previous comparable period for the financial year ended March 2021. The company also reported the highest ever presales of 1.66 Mn Sqft valued at Rs. 1,018 Cr during Q4 FY21. Brigade recorded growth of 26% with total quarter-on-quarter revenue growing from Rs. 654 Cr in Q3 FY21 to Rs. 821 Cr in Q4 FY21. Total collections during FY21 were reported at Rs. 2712 Cr compared to Rs. 2538 Cr during FY20 an increase of 7%, despite the impact of the pandemic. The average cost of debt is at an all-time low of 8.40%.

Commenting on the results, Chairman and Managing Director, Mr. M.R. Jaishankar, Brigade Enterprises Ltd. said, "Despite businesses taking a hit due to the COVID-19 pandemic, Brigade has witnessed robust sales driven by our residential business along with continued stability in the commercial business. Our residential projects in Hyderabad and Chennai continue to deliver consistently high results, along with our projects in Bangalore. It is encouraging to end FY21 on a high note which we can safely attribute to customers continuing to trust Brigade for our quality and service. We hope the strong pipeline of our ongoing and upcoming projects, and favourable market conditions will help maintain the momentum in the coming months."

Real Estate Highlights

The real estate business achieved pre-sales of 1.66 Mn Sqft in Q4 FY21 witnessing numbers that were higher than pre-Covid levels. In fact, the sales value is up 10% QoQ at Rs. 1,018 Cr and realization per Sqft has gone up by 2% compared to the previous Quarter. The residential Cash inflow for Q4 FY21 stands at Rs. 840 Cr when compared to Rs. 531 Cr in Q3 FY21. Currently Brigade has approximately 18 Mn Sqft of ongoing projects and 1.43 Mn Sqft of upcoming projects.

Lease Rental

The leasing segment of the commercial business of Brigade remains stable and positive with around 99% collections. There has been an increased momentum in office leasing enquiries with an active pipeline of ~ 1 Mn Sqft. On the retail side, malls witnessed an increased occupancy and footfalls month-on-month, consumption was back to 90% of pre-covid levels. The company has a pipeline of 1.65 Mn Sqft office space under construction.

Hospitality

The hospitality business, which was impacted the most due to COVID-19 travel restrictions that are still in place has reported a 43% average occupancy compared to 27% in the previous quarter with better traction in the F&B and banquet business.

Shares of BRIGADE ENTERPRISES LTD. was last trading in BSE at Rs.249.3 as compared to the previous close of Rs. 246.35. The total number of shares traded during the day was 6941 in over 254 trades.

The stock hit an intraday high of Rs. 252.75 and intraday low of 246.25. The net turnover during the day was Rs. 1740623.


Source: Equity Bulls

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