Brigade Group, officially Brigade Enterprises Limited, announced its Q4 FY20 and full-year FY20 financial results in June 2020, revealing significant challenges amid the early COVID-19 disruptions. The Bengaluru-based real estate developer reported a sharp 115% drop in Q4 net profit to Rs 11 crore, primarily due to accounting standard changes under Ind AS 115. Despite operational strengths like robust residential demand, revenue and EBITDA also declined notably.​

Q4 FY20 Key Metrics

Net profit plummeted 115% year-over-year to Rs 11 crore for the January-March 2020 quarter. Consolidated revenue fell 16.3% to Rs 635.9 crore from Rs 760 crore, with EBITDA dropping 37.3% to Rs 1.352 crore and margins contracting sharply to 21.3%. The company sold approximately 1-1.43 million sq ft, driven by residential segment demand, but overall performance reflected pandemic impacts.​

FY20 Annual Performance

Full-year FY20 results showed mixed outcomes, with net sales at around Rs 5,523 crore in some segments amid broader consolidation challenges. Operational sales reached about 4.3 million sq ft annually, highlighting resilience in residential projects despite market headwinds. Brigade emphasized sustained growth trajectory in core real estate, hospitality, and retail verticals.​

Context and Outlook

The results, declared around June 19-20, 2020, underscored accounting adjustments and lockdown effects on construction and sales. Analysts noted Brigade’s strong pre-sales momentum entering FY21, positioning it for recovery in Bengaluru’s property market.

  Brigade Group, Q4 FY20