Brigade Enterprises Annual Report Analysis - Covid-19 Impacts Q1 Growth: Nirmal Bang
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Nirmal Bang Report
Our analysis of Brigade Enterprises Ltd.'s FY21 annual report clearly shows the impact of Covid-19, especially in the Q1 FY21 results.
Brigade Enterprises' management in their discussion highlighted-
strong residential sales volume in Q3 FY21-Q4 FY21 despite weakness in Q1 FY21 due to the national lockdown,
~5.26 million square feet leased out of 8.55 million square feet with collections at 99%,
rent recovery in retail- 96% of Q4 FY20 in Q4 FY21,
strong improvement in occupancy of hotels from 11% in Q1 FY21 to 43% in Q4 FY21.
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