Brigade Enterprises gains on reporting 48% rise in sales bookings during October- December quarter
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Brigade Enterprises is currently trading at Rs. 479.70, up by 1.20 points or 0.25% from its previous closing of Rs. 478.50 on the BSE.
The scrip opened at Rs. 486.70 and has touched a high and low of Rs. 486.70 and Rs. 468.00 respectively. So far 1772 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 585.00 on 15-Sep-2022 and a 52 week low of Rs. 385.25 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 508.40 and Rs. 468.00 respectively. The current market cap of the company is Rs. 10950.52 crore.
The promoters holding in the company stood at 43.81%, while Institutions and Non-Institutions held 38.79% and 17.40% respectively.
Brigade Enterprises’ sales bookings rose by 48 per cent to Rs 1,009.7 crore in the third quarter of this fiscal on higher volumes and price realisation amid strong housing demand. The company has sold residential and commercial properties worth Rs 684.2 crore in the year-ago period. The average sales realisation rose 5 per cent to Rs 6,590 per square feet during the third quarter of this fiscal from Rs 6,281 per square feet in the year-ago period.
In volume terms, its sales bookings rose 41 per cent to 15,33,000 square feet in the October-December period of 2022-23 fiscal from 10,90,000 square feet in the year-ago period. Out of the total sales booking in the third quarter, the residential properties contributed Rs 939.4 crore while the commercial properties Rs 70.3 crore.
Brigade Enterprises is engaged in developing residential, commercial and retail properties primarily in Bangalore and Mysore, and has also developed and is managing a number of serviced apartments under the brand, Brigade Homestead.
