Total income climbed 54.35% year on year to Rs 1407.92 crore during the quarter.

Profit before tax in Q2 FY24 stood at Rs 180.35 crore, up 125.21% from Rs 80.08 crore reported in Q2 FY23.

EBITDA was at Rs 366.2 crore in the September quarter, registering a growth of 47% YoY. EBITDA margin reduced to 26% in Q2 FY24 as compared to 27% registered in the same period a year ago.

The company’s collections for Q2 FY24 stood at Rs 1,439 crore as compared to Rs 1,244 crore in Q1 FY24, recording a growth of 15%.

In Q2 FY24, the real estate segment witnessed a steady increase in pricing realization and continued its consistent performance with strong absorption trends across Bengaluru and Chennai. During the quarter, revenue stood at Rs 1,063 crore with an EBITDA of Rs 155 crore.

The company’s new bookings in the real estate segment in Q2 FY24 was 1.67 million square feet valued at Rs 1,249 crore.This is a 14% increase in terms of area 25% increase in value over the previous quarter. Collections stood at Rs 1,029 crore in Q2 FY24.

During the quarter, the company achieved an incremental leasing of 3 lakh square feet recording a 5x QoQ growth. Total leasing stood at 89% of the available inventory and recorded a 8% QoQ increase in leasing revenue, to Rs 231 crore in Q2 FY24 from Rs 213 crore in Q1 FY24.

In the quarter under review, the Hospitality business continued its growth trajectory with revenue increasing by 12% over Q1 FY24. Average room rate (ARR) are stable and occupancy rose by 7% in comparison to Q1 FY24. Revenue stood at Rs 114 crore with an EBITDA of Rs 40 crore.

Pavitra Shankar, managing director, Brigade Enterprises, said, "All business verticals contributed significantly to the growth of the company in Q2 of FY24. The residential segment continues to outperform with strong absorption across our key markets, heightened end-user interest, stable registration processes, steady home loan rates and excellent response to new launches. With a robust pipeline of launches in Bengaluru, Chennai and Hyderabad we are confident that we will sustain the momentum going forward."

Shares of Brigade Enterprises rose 0.59% to Rs 698.05 on the BSE. The scrip hit an all time high at Rs 749.85 in intraday today.