New Delhi, Realty firm <keyword id="72751" type="General" weightage="20" keywordseo="Brigade-Enterprises" source="Orion">Brigade Enterprises</keyword> has reported a 72 per cent increase in its consolidated net profit to Rs 133.50 crore for the second quarter of this fiscal year. Its net profit stood at Rs 77.58 crore in the year-ago period. Total income rose to Rs 1,407.92 crore during the July-September period of this fiscal year from Rs 912.19 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday. The company's sales bookings stood at 1.67 million square feet valued at Rs 1,249 crore during the second quarter of this fiscal year. "All business verticals contributed significantly to the growth of the company in Q2 of FY24. The residential segment continues to outperform with strong absorption across our key markets, heightened end-user interest, stable registration processes, steady home loan rates and excellent response to new launches," Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said. With a robust pipeline of launches in Bengaluru, Chennai and Hyderabad, she expressed confidence that the company would sustain the momentum going forward. Established in 1986, Brigade Enterprises Ltd is one of the leading property developers. It has developed many housing, commercial (office and malls) and hospitality projects across cities -- Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru.

Brigade Enterprises Q2 2023-24 net profit rises 72% to Rs 133.5 crore

New Delhi, Feb 5 () Realty firm Brigade Enterprises on Wednesday reported a marginal rise in its consolidated net profit at Rs 49.33 crore for the quarter ended December 31, 2019. Its net profit had stood at Rs 48.88 crore in the year-ago period, the Bengaluru-based company said in a regulatory filing. Total income declined to Rs 568.63 crore in the third quarter of the current financial year, from Rs 697.98 crore in the corresponding period of the previous year. MJH HRS

Brigade Enterprises Q3 net profit up marginally at Rs 49.33 cr; income falls

<div class="image-container display-table float_right"><div><div class="image"><img src="http://static3.businessinsider.com/image/529a3a8beab8eaf72e864637-1200-924/syria-151.jpg" border="0" alt="syria" />REUTERS/Mohamed AbdullahA Free Syrian Army fighter carries his weapon as he smokes a cigarette near the frontline of Otaiba, in al-Ghouta region in the eastern rural suburbs of Damascus, August 15, 2013.</div></div></div>The Free Syrian Army began as a simple group of fighters battling Assad. But Ruth Sherlock, in Antakya, finds their mission is now making millions from bribery and extortion
The Free Syrian Army commander leant against the door of his four-wheel drive BMW X5 with tinted windows and watched as his men waded through the river on the Syrian border moving the barrels of smuggled petroleum to Turkey.
Feeling the smooth wedge of American bank notes he had just been given in exchange, he was suddenly proud of everything he had become.
In three short years he had risen from peasant to war lord: from a seller of cigarettes on the street of a provincial village to the ruler of a province, with a rebel group to man his checkpoints and control these lucrative smuggling routes.
The FSA, a collection of tenuously coordinated, moderately Islamic, rebel groups was long the focus of the West's hopes for ousting President Bashar al-Assad.
But in northern <keyword id="6354913" type="COUNTRY" weightage="60" keywordseo="Syria">Syria</keyword>, the FSA has now become a largely criminal enterprise, with commanders more concerned about profits from corruption, kidnapping and theft than fighting the regime, according to a series of interviews with The Sunday Telegraph.
"There are many leaders in the revolution that don't want to make the regime fall because they are loving the conflict," said Ahmad al-Knaitry, commander of the moderate Omar Mokhtar brigade in the Jebel az-Zawiya area, south-west of Idlib city. "They have become princes of war; they spend millions of dollars, live in castles and have fancy cars."
At the beginning of the Syrian war, cafés in Antakya, the dusty Turkish town on the border with Syria, was alive with talk of revolution.
Rebel commanders were often seen poring over maps discussing the next government target. Almost three years later the fight against Bashar al-Assad is long forgotten. Discussion now surrounds fears of the growing power of al-Qaeda's Syrian outfit, the Islamic State of Iraq and the Levant, and the criminality and corruption that grips rebel-held areas.
Syria's north has been divided into a series of fiefdoms run by rival warlords.
With no overarching rule of law, every city, town and village comes under the control of a different commander. A myriad of checkpoints are dotted across the provinces: there are approximately 34 on the short road from the Turkish border to Aleppo alone. It is a dog-eat-dog existence, where men vie for control of territory, money, weapons and smuggling routes; it is, disgruntled civilians say, a competition for the spoils of war.
"I used to feel safe travelling around Aleppo and in [the neighbouring] Idlib province," said one Aleppo resident who works with a local charity to distribute food to civilians in the area. "Now I am afraid to leave the street outside my home. Every time you move you risk being robbed, kidnapped, or beaten. It all depends on how the men on the checkpoints you are crossing feel that day."
Fuel smuggling has burgeoned into a massive business, where smugglers and fighters take oil from the country's rebel-held fields in the north, crudely refine it and pass it through illegal routes along the porous border with Turkey. Some rebel brigades have given up the fight against the regime entirely to run the operations that line their own pockets; others are using it to fund their military actions, locals explained.
Some fighting groups manage the transfer of crude oil from the field to the refinery and then to the border, others have simply set up checkpoints that impose levies on smuggler gangs.
"Three years ago the rebels really wanted to fight the regime," said Ahmed, an opposition activist living in Raqqa, close to the country's oil repositories.
"But then the FSA started to control the borders and the fuel. After that it changed from a revolution to a battle for oil. I know rebel groups from Aleppo and Deir Ezzor, and even from Homs in the south of the country, that come here to get a share of the spoils."
The West has long viewed the FSA as its best ally in the melee of fighting groups in Syria. Western diplomats have worked hard to promote the idea of a command and control structure in which a "Supreme Military Council" provides supplies and orders to outfits on the ground.
The CIA was part of an "operations room" designed to ensure the weapons supplied by Gulf sponsors and channelled through Turkey went to Western-friendly, FSA-affiliated fighters. The United States has even offered limited non-lethal military support in the form of thousands of food packs.
But competition between the main proxy backers of the FSA, Qatar and Saudi Arabia, the lack of a real military commitment from Western powers and chronic infighting from the outset sent the FSA into decline before it had been even been properly formed. Lacking financial and military support, or a clear strategy, groups in the north began to fragment. Men and weapons seeped away to the better organised, better funded Islamist groups, allowing al-Qaeda to strengthen its foothold in Syria.
Mahmoud, a rebel fighter from Jisr al-Shugour in Idlib, detailed the painful decline of his fighting unit. It is a story oft repeated across northern Syria. "We joined the revolution when men only had hunting shotguns to defend their villages. In the first months we liberated our town, took terrain and we were happy, we had a case to fight the regime. We were bringing freedom to our people," he said.
He recalled how his comrades had planted home-made roadside bombs at the entrances to their town to block the regime's tanks. "Back then we were a group of brothers, not officers with soldiers, leaders with their men. We were friends," he said.
In April this year, the mood started to turn. "People arrived who were not with the revolution, they were only interested in selling guns," he said. "They called themselves FSA, but they had no interest in fighting Assad. They seized areas that were already free of the regime and set up checkpoints on roads there and started charging people for access.
"Some of the men in my brigade started working with them."
One officer, Ahmed Hamis, had been a representative in the Supreme Military Council for the Jisr al-Shugour area in Idlib province and had fought honestly against the regime, Mahmoud said. "Then a foreign sponsor started supporting him with money and weapons. He broke away to form a small gang.
"He has a lot of weapons but he hasn't run one battle against the regime. He has no time for that because he has his own business, smuggling diesel and setting up checkpoints to levy taxes," he said. "He also deals in kidnappings. If they catch a government soldier they'll sell him back to his family."
With little practical support coming from the Supreme Military Council, Mahmoud's group started to falter. "Because we were not thieving, we had no money to operate. Many of our men had to leave to find jobs. We were weak and eventually we had to disband," he said.
"My commander had been one of the first people to defect from the Syrian army. But now we don't have any mission, and we don't have any soldiers for fighting. My commander keeps asking his fighters to come back. He is desperate."
At least 85 per cent of the fighting groups he used to know have started smuggling oil and cars, he said. Many had also turned to exploiting the finances of sponsors funding the war against Assad. Rebel groups film their military operations and post the videos on YouTube for foreign donors to peruse. Each outfit has a unit of "journalists", men who follow them into battle armed with a video camera.
Back in the office they edit the footage, often putting it to music and stamping it with the group's logo, before posting it online or sending it to their sponsor as evidence that the military operation they paid for had been carried out.
"Often our sponsors will give us money for a specific operation, so when we do it, we film it as proof that we have used their money well," said a media officer with the Farouk brigade, one of the best-known rebel outfits in Syria, in their office in Reyhanli.
But FSA commanders are increasingly using this to line their own pockets, focusing more on getting the sponsor's funds than on the military operations, civilians and rebel commanders have said.
Rebels across the region expressed anger at the battle of Wadi Deif, a six-month siege of a huge military base which ended with the government retaining control of it.
That siege was led by Jamal Maarouf, a former handyman and one of the most powerful rebel commanders in Idlib province, but many other rebel outfits participated. Men who were in the battle told The Sunday Telegraph that their commanders had not wanted to end the battle because it was too profitable.
"Funds poured in from the Gulf states and Saudi Arabia," said one fighter who asked not to be named. "And the siege itself made money: commanders were taking bribes from the Syrian regime to allow the regime to send food supplies to its men inside."
For several months, foreign backers sent money and weapons to help finish the battle at Wadi Deif. It became, as one rebel put it, "like a like a chicken producing golden eggs".
Mr Knaitry said: "We try not to talk about it about it because we don't want our people to lose hope. But they became merchants with the martyr's blood."
Suddenly many of the fighters bought new homes, and started flashing more money. One man said of Jamaal Marouf: "He had nothing before the revolution, now he drives around in his personal bullet proof car."

How The Free Syrian Army Became A Largely Criminal Enterprise

Shopping mall operators are expected to earn 7-9 per cent higher revenue during this fiscal, driven by strong retail consumption and improved rentals in their properties, according to <keyword id="6359483" type="General" weightage="80" keywordseo="crisil" source="Orion">CRISIL</keyword>. "Buoyant retail sales and improved rental yields are expected to lift the revenue of mall operators by 7-9 per cent this fiscal. That would be tantamount to around 125 per cent of pre-pandemic, or fiscal 2020, revenue," it said in a statement. The rating agency said that the growth in revenue will be on a high base of FY23. During the last fiscal, CRISIL noted that "return to social normalcy after mobility curbs were lifted led to substantial growth in footfalls and a robust 60 per cent rise in revenue to around 116 per cent of the pre-pandemic level". "Additionally, high occupancy levels, solid profitability backed by cost-optimisation measures and strong balance sheets will keep the credit risk profiles of mall operators healthy this fiscal," the agency said. CRISIL Ratings has analysed 28 malls, which have leasable space of around 18 million square feet area spread across 17 cities, with a total debt of over Rs 8,000 crore. Typically, mall operators generate around 85 per cent of their income from minimum guaranteed rentals as per lease agreements, while the rest is linked to the revenue performance of the tenants. DLF, Brigade Enterprises, Macrotech Developers (Lodha Group), Nexus Select Trust, <keyword id="144998" type="General" weightage="50" keywordseo="phoenix-mills" source="Orion">Phoenix Mills</keyword>, Lulu Group, Pacific India, <keyword id="6436174" type="General" weightage="50" keywordseo="unity-group" source="Orion">Unity Group</keyword> and Ambience Group are operating Grade A shopping malls across major cities. "The exceptional revenue growth last fiscal was on a significantly weak base. In fiscals 2021 and 2022, revenue stood at 55 per cent and 74 per cent of the pre-pandemic level, respectively, as mall operators had waived off rent and allowed flexible payment terms to tenants in a bid to prevent any major decline in occupancy," the statement said. As the impact of Covid-19 waned and occupancy increased, the average per square feet leasing rate jumped 12-14 per cent in fiscal 2023, it added. "Considering the healthy performance of the sector, capex is expected to pick up over the near to medium term. While a sizeable part of it may be funded by equity from global investors, a large debt contracted for new developments will bear watching," the agency said. On the flip side, CRISIL said that the impact of the slowdown in advanced economies, and the manifestation of the lagged effect of repo rate hikes of the past can curtail discretionary spending, including retail sales. "This aspect will, therefore, be monitorable." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-fronx-vs-brezza-comparison-which-car-should-you-buy-under-10-lakh/slidelist/99729841.cms">Maruti Suzuki Fronx vs Brezza – which car should you buy under ₹10 lakh?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/playstation-5-special-summer-offer-discount-for-all-the-ps5-variants/articleshow/99729513.cms">This could be your last chance to grab a PlayStation 5 at a ₹5000 discount in India</a>

Shopping mall operators' revenue to rise 7-9% this fiscal: CRISIL

<ul><li>Housing Development Finance Corporation’s individual loan disbursements rose rapidly by 181% on year in June quarter.</li><li>The leading housing finance company sees strong demand for home loans since many locations have unlocked post covid.</li><li>Real estate company stocks have been gaining since the last 30 days hoping for a recovery.</li></ul>The largest private housing finance company in India said that demand had improved in both the affordable segment as well as in high-end properties. While the company’s net profit declined marginally to ₹ 5,310 crore from ₹5,669 crore same time last year, Housing Development Finance Corporation (HDFC) saw a 181% growth in individual loan disbursement in June quarter 2021. "HDFC surprised the street with almost steady asset quality performance during a quarter when most peers in housing as well as other asset finance sectors have reported a significant rise in stressed loans," said Kotak Institutional Equities in its report dated August 3. <div type="image" title="HDFC net profit revenue" height="900" width="1200" msid="84972826" hostid="261"></div> Home loan disbursement refers to the release of the credit amount by the bank or financial institution to the borrower. “While disbursements during April and May of the current financial year were somewhat impacted, business has reverted to normalised trends in the months of June and July,” said the company while announcing its June quarter results. This is a trend that has continued for the last few quarters with exceptions in the month of April and May 2021 when the second wave of the pandemic struck. Watch the company’s Chief Executive Officer Keki Mistry expressing similar optimism in a conversation with <a href="https://www.businessinsider.in/business/news/watch-the-ceo-of-indias-largest-home-loan-company-says-people-are-going-for-bigger-homes-thanks-to-the-lockdown/articleshow/80894790.cms">Business Insider in </a>February this year. This has helped real estate stocks sustain the rally seen over the last one month. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top five realty stocks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains on Aug 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 30 days </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DLF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oberoi Realty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Godrej Properties </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indiabulls Real Estate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prestige Estates Projects </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">26% </td></tr></tbody></table> India’s real estate sector has been in a limbo for a few years now. The pandemic made it worse and, despite steady cuts in benchmark interest rates by the Reserve Bank of India (RBI), the recovery has been slow, to put it mildly. According to latest data from property consultants at Anarock, over 1.74 lakh under-construction homes ⁠— estimated to be worth over ₹1.4 lakh crore (about $20 billion) are stuck across the top seven cities in India. These projects were launched before 2014 but have not been completed since. The total number of properties under construction in India exceeds 626,000. Even HDFC’s earnings statement noted that people preferred ready-to-move properties compared to those under construction. Many of those who have taken home loans are also struggling to repay. Individual non performing assets (NPAs) increased due to slippages after the impact of the second wave of the pandemic. <div type="image" title="HDFC chart 2" height="900" width="1200" msid="84971003" hostid="261"></div> However, the outlook for real estate stocks has been so bad that investors are craving for any amount of optimism. And, some of it has been available for those seeking it. Macrotech Developers, the owner of the Lodha brand of properties ⁠— one of the biggest developers in India ⁠— clocked a total sales booking of ₹957 crore in June quarter, of which ₹654 crore came in June. <div type="image" title="Macrotech developers chart" height="900" width="1200" msid="84971027" hostid="261"></div> "We expect the sector to outperform in coming years wherein companies like DLF, Oberoi Realty, Godrej Properties, Phoenix Mills, Brigade enterprises, Indiabulls Real Estate and Sobha, which collectively contribute 87% of Nifty Realty Index, are poised to generate above-average returns in years to come and should be considered as long-term investment bets in portfolios," broking firm <a href="https://www.business-standard.com/article/markets/realty-shares-in-demand-oberoi-prestige-estates-indiabulls-sobha-up-5-121080200316_1.html">ICICIdirect</a> recently said. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-news-birla-offers-to-give-up-his-27-stake-in-vodafone-idea/articleshow/84969189.cms">Birla offers to give up his 27% stake in Vodafone Idea to keep phones of 27 crore Indians ringing </a> <a href="https://www.businessinsider.in/stock-market/news/zomato-indigo-paints-bectors-food-ujjivan-small-finance-bank-and-other-hot-stocks-that-have-lost-steam-since-listing/articleshow/84964352.cms">Zomato, Indigo paints, bectors food, Ujjivan small finance bank and another hot stocks that have lost steam since listing </a>

You Searched For "Brigade Enterprises profit" and got 7 results

Brigade Enterprises Q2 2023-24 net profit rises 72% to Rs 133.5 crore

BI India Bureau

Brigade Enterprises Q3 net profit up marginally at Rs 49.33 cr; income falls

PTI

How The Free Syrian Army Became A Largely Criminal Enterprise

Ruth Sherlock, The Telegraph

Shopping mall operators' revenue to rise 7-9% this fiscal: CRISIL

PTI

India’s largest home loan provider HDFC has given real estate stocks another reason to rally

Bhakti Makwana

From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels

Bhakti Makwana

Inside New York City Cyber Command - a government agency most people know nothing about that's leading America's biggest city into the future

Brennan Weiss