Brigade Enterprises Profit Rises on Housing Demand
Indian real estate developer Brigade Enterprises posted a higher quarterly profit driven by strong residential demand in mid and premium segments. Consolidated net profit reached 1.94 billion rupees despite a drop in revenue.
Insights:
Brigade Enterprises posted a consolidated net profit of 1.94 billion rupees ($20.4M) in the quarter ending September 30, driven by strong residential demand across India. The profit marked an increase from 1.63 billion rupees a year earlier. Strong sales in mid- and premium housing segments helped offset an overall revenue drop of 14% to 11.96 billion rupees.
