Shares of Brigade Enterprises Ltd were trading in the red and 3% lower on 15 May despite announcing an increase in its fourth-quarter net profit and acquiring a land lot in Chennai.

In its quarterly earnings, the company announced, “The company has acquired a 5.41-acre land parcel on Velachery Road, Chennai, which will have a gross development value (GDV) of approximately Rs 1,600 crore, with a development potential of about 0.8 million square feet. The transaction value of the acquisition is about Rs 441.70 crore.”

Moreover, the company also announced its Q4FY25 profits, in which its net profit increased by 19.7% to Rs 246.82 crore from Rs 206.09 crore in the same quarter of the previous year.

The company’s revenue declined by 14.2% to Rs 1,460.39 crore compared to Rs 1,702.37 crore reported in the same quarter last year.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell 3.8% to RS 416 crore, while the margin increased to 28.5%.

The corporate board has recommended a final dividend of Rs 2.50 per equity share (25 % of Rs 10).

Earlier last month, the Brigade Group purchased an 11-acre plot of property opposite ITPL in Bengaluru’s Whitefield neighbourhood. The site would be turned into a premium commercial project with a gross leasable area of around 1.5 million square feet and a Gross Development Value (GDV) of more than RS 2,000 crore, according to the business.

At 11:42 am, the shares of Brigade Enterprises were trading 2.36% lower at Rs 1,066.40 on NSE.

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