Brigade Enterprises Annual Report Analysis - Covid-19 Impacts Q1 Growth: Nirmal Bang
A metro train travels along an elevated track as residential buildings stand in the background at night in the outskirts of New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)

Brigade Enterprises Annual Report Analysis - Covid-19 Impacts Q1 Growth: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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-

  1. strong residential sales volume in Q3 FY21-Q4 FY21 despite weakness in Q1 FY21 due to the national lockdown,

  2. ~5.26 million square feet leased out of 8.55 million square feet with collections at 99%,

  3. rent recovery in retail- 96% of Q4 FY20 in Q4 FY21,

  4. strong improvement in occupancy of hotels from 11% in Q1 FY21 to 43% in Q4 FY21.

Click on the attachment to read the full report:

Nirmal Bang Brigade Enterprises-FY21 Annual Report Update-30 August 2021.pdf

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