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Realty company Brigade Enterprises announced Q3FY24 results:

Consolidated Q3FY24:

• Revenue in Q3FY24 stood at Rs 1,208 crore as against Rs 859 crore in Q3FY23; Increase of 41%
• EBITDA stood at Rs 296 crore in Q3FY24 as against Rs 246 crore in Q3FY23; Increase of 20%
• PAT in Q3FY24 stood at Rs 56 crore as against Rs 43 crore in Q3FY23; Increase of 31%

Real Estate  Highlights:

• Achieved its strongest performance ever for Q3 of a Financial year with sales of 1.7 million sqft with a sale value of Rs 1,524 crore with absorption in Bengaluru and Chennai.
• During the quarter, revenue stood at Rs 839 crore which has grown by 50% compared to Q3FY23 and EBITDA stood at Rs 73 crore for the quarter.

Leasing Highlights:

• In Q3FY24, the Group leased 0.49 million sqft (Including hard option), achieving 95% occupancy in the overall portfolio.
• During the quarter, revenue stood at Rs 247 crore which has grown by 24% compared to Q3FY23
• EBITDA stood at Rs 179 crore.

Hospitality Highlights:

• In Q3FY24, Hospitality revenues have surged by an impressive 22% to Rs 123 crore, ARR has shown a 7% increase, and occupancy has experienced a 5% rise compared to Q3FY23.
• EBITDA Stood at Rs 45 crore.

"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 Q4FY24. Our Office segment recorded the best leasing quarter post-COVID and we are hopeful to finish the financial year stronger. Furthermore, our Retail business has seen good leasing traction and Hospitality has seen improvements across the board." said Pavitra Shankar, Managing Director, Brigade Enterprises.

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