Q4 2024 Brigade Enterprises Ltd Earnings Call Transcript
Key Points
- Brigade Enterprises Ltd (BOM:532929) reported its highest ever listed sales of 7.55 million square feet for FY24.
- The company achieved a 23% increase in average realization of units sold, reaching INR7,970 per square foot.
- The office segment witnessed a strong performance with net office space absorption of more than 1 million square feet in FY24.
- Retail footfalls across Brigade's three malls grew by 10% in Q4 FY24, indicating strong consumer engagement.
- The hospitality segment saw a 13% revenue surge in Q4 FY24, driven by an 11% increase in occupancy and a 10% increase in ARR.
- Despite the strong performance, the company faces challenges in maintaining the same growth rate due to the increasing base size.
- The leasing inquiries for the twin tower project are progressing slower than desired.
- The company has a significant debt burden with a gross debt of INR4,663 crores as of March 31, 2024.
- There is a potential risk of slippage in project launches, which could impact future sales and revenue targets.
- The hospitality segment's growth in ARR and occupancy was slightly below industry expectations for Q4 FY24.
Ladies and gentlemen, good day, and welcome to the Q4 FY24 earnings conference call of Brigade Enterprises Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. M. R. Jaishankar, Executive Chairman. Thank you, and over to you, sir.
So thank you. Good afternoon, ladies and gentlemen. Welcome you all to the Brigade Enterprises Q4 financial year '24 earnings call. I'm joined by our Managing Director, Ms. Pavitra Shankar; Joint Managing Director, Ms. Nirupa Shankar; our Executive Director, Mr. Roshan Matthew; Mr. Amar Mysore; Mr. Pradyumna Kumar; also by our CFO, Jayant Manmadkar and who is quite new and also other members of the senior management team.
I'm very happy to say that all verticals of the company contributed significantly to our growth in financial year '24, on the back of robust demand, with a strong pipeline of 22 million square feet of ongoing projects, and at around 16 million square
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
