EBITDA improved by 20% to Rs 296.4 in the third quarter as compared with the same period last year.

Profit before tax in Q3 FY24 stood at Rs 79.5 crore, up by 60% from Rs 49.7 crore in Q3 FY23.

Net bookings in the real estate segment of Q3 FY24 were 1.7 million square feet with a sale value of Rs 1,524 crore. Collections for Q3 FY24 stood at Rs 1,394 crore.

Pavitra Shankar, managing director, Brigade Enterprises, said: "We have witnessed healthy growth across our business verticals. The momentum in the Residential business continues to exhibit healthy growth both in terms of pricing as well as volume and continues to look positive with a strong pipeline of launches for Q4 FY24.

Our Office segment recorded the best leasing quarter post-COVID and we are hopeful to finishing the financial year stronger. Furthermore, our Retail business has seen good leasing traction and Hospitality has seen improvements across the board."

The company further informed that the Residential segment would witness launches of about 10.8 million square feet with an estimated gross development value of around Rs 10,000 crore in the next four quarters.

Furthermore, about 5 million square feet of Office and Retail projects are planned to be launched in the next 4 quarters, The annualised exit rentals is estimated to be in the range of Rs 500 crore from these launches.

Similarly, the Hospitality segment plans to commence construction of about 1,000 rooms across 4 projects in next 1 year.

Brigade Enterprises is one of India’s leading property developers. The company has developed properties in cities like Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.