Brigade Enterprises suffers net loss of Rs 63 cr for Q1FY21

New Delhi: Bengaluru-based realty player Brigade Enterprises Ltd suffered a consolidated net loss of Rs 63 crore for the first quarter of the current fiscal as compared to a net profit of Rs 46 crore in the corresponding quarter of the previous fiscal.

The consolidated revenues from operations fell 71 percent to Rs 203 crore for the first quarter of the current fiscal as compared to Rs 708 crore in the corresponding quarter of the previous fiscal. 

The consolidated total expenses of the company declined to Rs 300 crore for the first quarter of the current fiscal as compared to Rs 644 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing.

The realty firm clocked 0.4 million square feet of new sales valued at Rs 250 crore in the latest quarter. The average price realisation per square feet increased 14 percent in the latest quarter as compared to the corresponding quarter of the previous fiscal.

The company has a residential pipeline of around 16.24 million square feet. It plans to launch 2.06 million square feet in the remainder of the current fiscal. 

The board of the company has approved a proposal to raise up to Rs 500 crore single or multiple tranches. It can be raised by issuance of equity shares, fully convertible debentures, non-convertible debt instruments or preference shares.

menu
menu