Latest News | Brigade Enterprises Posts Rs 86 Cr Loss in Q1; Raises Rs 500 Cr Via QIP Route

New Delhi, Aug 5 (PTI) Realty firm Brigade Enterprises on Thursday reported a consolidated net loss of Rs 85.89 crore for the quarter ended June despite rise in income.

Its net loss stood at Rs 63.90 crore in the year-ago period.

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Total income increased to Rs 391.52 crore in the first quarter of this fiscal year from Rs 213.82 crore in the corresponding period of the previous year, according to a regulatory filing.

During the June quarter, Brigade said in a statement that it has raised Rs 500 crore through QIP (Qualified Institutional Placement) route.

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"Proceeds will be utilised for Capex – Acquisition of land or land developmental rights, working capital requirements, repayment of debt and general corporate purposes," it added.

Bengaluru-based Brigade has completed 250+ buildings amounting to over 71 million sq. ft of developed space across a diverse real estate portfolio.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)