Brigade sales bookings up 59%

New Delhi: Bengaluru-based realty  firm Brigade Enterprises Ltd’s sales bookings grew  by 59 per cent to Rs 1,310.6  crore in the first half of  this fiscal year, driven by a  revival in housing demand  and low-interest rate on  home loans.

According to an investors presentation, Brigade Enterprises, one of the  leading real estate developers of the country, has sold properties worth Rs 1,310.6  crore during the April-September period of 2021- 22 against Rs 825.9 crore in  the corresponding period  of the previous year.

The sales bookings in  value terms increased  by 48 per cent to 20,78,000  square feet from 14,09,000  square feet. The average  sales realisation improved  by 8 per cent to Rs 6,304 per  square foot during the first  half of this fiscal from Rs  5,864 per square foot in the  year-ago period.

Out of the total sales  bookings, the residential  segment contributed Rs  1,277.3 crore during AprilSeptember of FY22, an increase of 62 per cent from  Rs 788.9 crore a year ago.  Sales bookings of commercial properties fell 10 per  cent to Rs 33.3 crore from  Rs 37 crore during the period under review.

Last week, Brigade Enterprises reported a consolidated net profit of Rs  12.03 crore for the quarter  ended September 30, compared to a net loss of Rs  17.08 crore in the year-ago  period. Its total income  stood at Rs 776.08 crore  in the second quarter of  this financial year against  Rs 322.06 crore in the corresponding period of the  previous year.

Commenting on the results, the company’s Chairman and Managing Director M.R. Jaishankar had  said, “Led by strong sales  and significant growth  in our residential business, we have had another  strong quarter as the pandemic wanes”. The company has a strong pipeline of  residential projects to help  continue the momentum,  he added. -(PTI)

Puravankara  bookings improve

Realty firm Puravankara  Ltd’s sales bookings grew by  20 per cent to Rs 597 crore  during the second quarter  of the fiscal on higher volumes and price realisation.

In its investors presentation, the Bengaluru-based  firm informed that the  company’s sales booking  increased to Rs 597 crore  during July-September  quarter of 2021-22 fiscal  from Rs 495 crore in the  previous year.

Its sales realisation went  up by 11 per cent to Rs  6,556 per square feet from  Rs 5,898 per square feet.