Brigade Group Announces Q4 FY20 and FY20 Financial Results

Key Points 

* Highest ever pre-sales of 4.3 mn sft  in FY20 and Collections of Rs. 2,539 Crores

* Brigade Enterprises Limited’s Consolidated Revenues for the year ended 31st March 2020 was Rs. 2,682 crores as compared to Rs. 3,027 crores for FY19. PAT after Minority Interest was at 131 crores as compared to Rs.240 Crores for FY19.

Operational Highlights:

* Achieved 3 Mn sq ft. of sales in FY20 compared to 3 Mn sq ft. in FY19 (44 % increase)

* Sale value of Rs. 2,377 Crores in FY20 vs Rs. 1,644 Crores in FY19. (45 % increase)

* Achieved 1 mn sq ft. of new sales in Q4 FY20 vs 0.9 mn sq ft. in Q4 FY19 (10 % increase)

* Sale value of Rs.651 Crores in Q4 FY20 vs Rs.520 Crores in Q4F Y19 (25 % increase)

* Leased 5 Mn sq ft. of new office area in FY20 which is estimated to yield rental of Rs.237 Crores.

* Collections are at 2,539 Crores in FY20 compared to 2,242 Crores in FY19 (13% increase)

* Commenting on Company’s performance, Mr. M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited:

“FY20 has been Brigade’s best operational performance where we have sold an area of 4.3 million sft. All our business segments- Residential, Lease Rental and Hospitality, have performed strongly in FY20   and the same is reflected in the numbers. The unprecedented crisis due to Covid-19 pandemic resulting in the nationwide lockdown has had a negative impact on all sectors. However, we expect business to gradually pick up from the 3rd quarter of this financial year ”

Financial Highlights

Standalone Performance FY20 vs FY19:

Total Revenues at Rs.1994 Crores vis-à-vis Rs. 1929 Crores

EBDITA at Rs.635 Crores vis-à-vis Rs. 605 Crores

EBDITA Margin at 32% vis-à-vis 31%

PAT at Rs. 261 Crores vis-à-vis Rs. 234 Crores

Consolidated Performance FY20 vs FY19:

Total Revenues at Rs. 2,682 Crores vis-à-vis Rs. 3,027 Crores

EBDITA at Rs.713 Crores vis-à-vis Rs. 844 Crores

EBDITA Margin at 27% vis-à-vis 28%

PBT (Before Expectational Items) at Rs.180 Crores vis-à-vis 427 Crores

PAT after Minority Interest at Rs.131 Crores vis-à-vis Rs.240 Crores

Collections increased by Rs.297 Crores in FY20 when compared to FY19.

Consolidated Q4 Performance (Q4FY20 vs Q3FY20) 

Total Revenues at Rs. 644 Crores vis-à-vis Rs. 569 Crores

EBDITA at Rs.144 Crores vis-à-vis Rs. 172 Crores

EBDITA Margin at 22% vis-à-vis 30%

PBT (Before Expectational Items) at Rs.7 Crores vis-à-vis Rs.36 Crores

Net Profit after Minority Interest at Rs. 3 Crores vis-à-vis Rs.49 Crores

New Launches in Q4 FY20 & FY20

Launched 4 real estate projects aggregating to 2.5 Mn. Sft. in Q4 FY20.

Total area of 5.3 Mn. Sq. ft. has been launched in FY 20 across all business segments.

Final Dividend

The Board had  declared  and paid an Interim Dividend of Rs. 1.00 per equity share  in March 2020 (10%). There is no final dividend recommended by the Board. The Interim Dividend  paid in March 2020 will be the final dividend for the financial year 2019-20.

COVID 19 relief efforts and initiatives

Around 9,500-10,000 migrant workers supported with ‘ Dry Ration’ and money was remitted to their Jan Dhan Bank Accounts/given in hand.

Provided 3,65,000 meals during the lockdown period to migrant workers and economically weaker section of the society.

Over 7 truck loads of rice distributed in Chennai.

Dry rations provided to more than 3,500 families in Bangalore and bread loaves of over 11,500 provided in slums.

Outlook

The Group is currently developing about 21.4 million Sq. ft across Residential, Office, Retail and Hotel segments. Further, launches to the extent of about 4.5 million Sq. ft. are planned for the financial year 2020-21.