Brigade Enterprises Records Highest-ever Presales And Real Estate Sales

Brigade Enterprises, a prominent property developer, has announced financial results for the year ended 31 March 2024. The company has reported remarkable growth across all business segments, with record-breaking achievements in presales, real estate sales, and operational leasing.

According to the official details, in FY24, Brigade Enterprises achieved presales of Rs 6,013 Cr, marking the highest-ever figure for both a quarter and a financial year. Real estate sales volumes reached 7.55 million square feet (Sft.) for the fiscal year, with an additional 2.72 million Sft. sold in Q4 FY24. The average realisation for FY24 witnessed a notable increase of 23 per cent over the previous fiscal year. Moreover, collections across the Group for FY24 stood at INR 5,915 Cr, reflecting a healthy financial performance.

The company's operational leasing portfolio witnessed a significant expansion, with leasing growing by 14 per cent year-on-year (YoY). Brigade Enterprises leased an additional 1 million Sft. of area over FY23, achieving an impressive 97 per cent occupancy rate across its portfolio. Incremental leasing of 0.20 million Sft. was recorded in the leasing portfolio in Q4 FY24.

In the Hospitality vertical, Brigade Enterprises reported an average occupancy rate of 72 per cent, marking a 3 percentage point increase, while the average room rate (ARR) saw around 8 per cent growth in FY24, reaching approximately Rs 6,480.

During FY24, Brigade Enterprises launched 5.26 million Sft. in the Residential vertical and 0.94 million Sft. in the Commercial vertical, further expanding its portfolio and strengthening its market presence.

Commenting on the company's outstanding performance, Pavitra Shankar, Managing Director of Brigade Enterprises Limited, expressed confidence in the company's future prospects. He highlighted the robust sales growth in the residential segment and the significant contributions from all other verticals. Shankar emphasised the company's optimistic outlook for FY25, citing strong demand for residential space and the momentum in leasing efforts and hospitality vertical.

Brigade Group boasts a healthy pipeline of new launches, with around 12.61 million Sft. planned in Residential, 6.33 million Sft. in Commercial, and 1.06 million Sft. in Hospitality.

Established in 1986, Brigade Enterprises has emerged as one of India's leading property developers, with a strong track record of delivering quality projects across Residential, Office, Retail, and Hotel segments. The company's commitment to excellence and customer satisfaction has earned it a reputation for building positive experiences and transforming skylines across key cities in India.