Real estate firm Brigade records a fall in profit
Bangalore developers are performing much better than their counterparts in the rest of India in terms of sales and aggressive project launches.
As per the books, Shobha Developers and other leading realtors are in better position than their counterparts in other metros.
Although Bangalore-based real estate firm Brigade Enterprises Ltd’ s numbers contrast with Shobha’ s, its position is substantially firm.
The firm posted a 45.8 per cent year-on-year fall in June-quarter profit but a 78.85 per cent rise sequentially to Rs.14.38 crore. Revenue fell 18.72 per cent over a year ago to Rs.138.6 crore, but rose 4.9 per cent sequentially.
During the June quarter, Brigade signed a private equity deal with Government of Singapore Investment Corp. Pte Ltd during the quarter to acquire prime land in Bangalore for Rs.125 crore.
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