Brigade Enterprises Q4 Review - Record Quarter For Residential Sales: ICICI Securities
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ICICI Securities Report
Q4 FY21 saw Brigade Enterprises Ltd.’s clocking record residential volumes of 1.66 million square feet worth Rs 10.2 billion (up 56% YoY in value terms) driven by strong uptick in sales from its Hyderabad and Chennai projects which accounted for 40% of the quarter’s sales.
While incremental office leasing and malls/hotels will continue to see pressure in H1 FY22, we expect H2 FY22 to see a gradual pickup in these segments.
With peak capex behind and a strong pipeline of residential launches, we remain bullish on the company’s long-term prospects.
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