Brigade Group's profit rose by 29% in the second quarter to 219 crore rupees, while revenue decreased by 12.6%

Brigade Enterprises Ltd, based in Bangalore, reported a rise in net profit of 28.8% to 219 crore rupees in the second quarter of fiscal year 27 (Q2FY27) compared to the same period last year. This growth is attributed to stable demand that aligns with the launch of new projects.

However, the company's revenue, which focuses on South India, declined by 12.6% year-on-year (Y-o-Y), reaching 1,250 crore rupees compared to 1,430 crore rupees in the corresponding quarter of the previous year. This was reported in the stock exchange filing published on Thursday with results for the September quarter.

Earnings Before Interest, Taxes, Depreciation, and Amortization (Ebitda) increased by 27.5% in Q2FY27, reaching 478 crore rupees, compared to 375 crore rupees in the corresponding quarter of the previous fiscal year.

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Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, noted that residential segments continue to drive growth, supported by sustained demand and a strong project portfolio. She emphasized that customers are increasingly prioritizing quality, location, larger homes, and improved amenities, and the company continues to observe steady demand in both mid-range and premium segments. Furthermore, the festive season boosted customer engagement in the residential and retail businesses.

The group stated that project launch rates are gaining momentum, with property sales for the quarter reaching 1,827 crore rupees across a volume of 1.3 million square feet (msf). Shankar added that the company is prepared to sustain this momentum and ensure stable long-term growth. Brigade Enterprises shares fell by 1.39% and closed at 531 rupees on the BSE on Thursday.

During the quarter, the company launched projects totaling 2.4 msf with a Gross Development Value (GDV) of approximately 3,000 crore rupees. Brigade's portfolio generated revenue of 760 crore rupees, with an Ebitda of 175 crore rupees, which is 59% higher than in Q2FY26, at a margin of 23%.

Revenue from the rental business amounted to 329 crore rupees, with an Ebitda of 242 crore rupees, which is 9% higher than in Q2FY26, with a margin of 74%. As of September 2026, occupancy reached 90%. In the hospitality segment, which includes hotels the company builds for brand management, revenue in Q2FY27 was 161 crore rupees, and Ebitda was 59 crore rupees, which is 41% higher than in Q2FY26, with a margin of 37%.

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business-standard.comOctober 22, 14:56

Havells India's net profit grew by 9.7% to 349 crore rupees in the second quarter amid a 34.6% revenue increase

Havells India, a manufacturer of consumer electrical goods, reported on Thursday a year-on-year growth of consolidated net profit by 9.72%, reaching 349.22 crore rupees for the September quarter of fiscal year 27. This growth was driven by an increase in revenue.

According to Havells India's regulatory filings, in the July-September period of the previous year, the company recorded a consolidated net profit of 318.28 crore rupees. In the September quarter of fiscal year 27, the company's operating revenue increased by 34.57%, amounting to 6,432 crore rupees, compared to 4,779.33 crore rupees in the same period last fiscal year.

Havells' total expenses amounted to 5,991.98 crore rupees, which is 34.47% higher than the previous year. Chairman and Managing Director Anil Rai Gupta noted that the second quarter demonstrated strong business performance, including revenue growth of about 35% year-on-year and EBITDA growth of about 30%, despite stable demand amidst inflation.

Despite ongoing macroeconomic uncertainties, Anil Rai Gupta expressed optimism regarding the upcoming festive season. In the September quarter, Havells' switchgear business segment showed a revenue growth of 31.3% to 782 crore rupees. This growth was supported by increased domestic demand and the recovery of exports after disruptions in June.

The cables segment demonstrated impressive revenue growth of 47.9%, reaching 2,999 crore rupees. The growth was ensured by price increases related to raw materials, as well as a shift in the product portfolio towards larger cables. Revenue from lighting fixtures and lamps increased by 7% to 449 crore rupees due to improved demand and price stabilization.

The Consumer Electrical Goods (ECD) segment increased revenue by 10.7%, reaching 1,072 crore rupees, with growth observed across all product categories. Havells' renewable energy business continued to scale rapidly, doubling its revenue to 329 crore rupees in the September quarter, reflecting the expansion of this area. Lloyd Consumer, a consumer goods division acquired by Havells in 2017, increased revenue by 28.4% to 615 crore rupees due to increased sales volume and price hikes.

Havells India' total revenue, including other income, stood at 6,464.60 crore rupees, which is 32.86% higher in the second quarter of fiscal year 27. On Thursday, Havells India Ltd shares closed at 1,075.60 rupees on the BSE, showing a rise of 0.42% compared to the previous close.

business-standard.comOctober 19, 09:54

Union Bank's second-quarter profit rose by 31% to 5,781 crore rupees amid growth in net interest income

The consolidated net profit of Union Bank of India increased by 30.6% year-on-year, reaching 5,781 crore rupees in the quarter ending September 30, 2026. This figure was up from 4,425.95 crore rupees and was driven by an increase in net interest income and a sharp reduction in provisions.

Net interest income, calculated as interest earned minus interest paid, grew by 20.2% to 10,765.32 crore rupees, compared to 8,957.92 crore rupees. Meanwhile, interest income rose by 8.3% to 28,377.73 crore rupees, while interest expenses increased more slowly—by only 2.1%—to 17,612.41 crore rupees.

Sharp reduction in provisions by almost 50 percent

Operating profit before provisions and unexpected expenses rose by 19.1%, amounting to 8,150.96 crore rupees compared to 6,844.79 crore rupees. Provisions and unexpected expenses, excluding taxes, decreased by 49.6%, falling from 1,392.28 crore rupees to 702.19 crore rupees. However, provisions specifically set aside for non-performing assets increased by 15%, reaching 596.48 crore rupees.

Profit before tax increased by 36.6%, totaling 7,448.77 crore rupees. Tax expenses grew by 60.4% to 1,878.37 crore rupees. The bank's share of profit from affiliates increased by 45.6% to 210.60 crore rupees. Basic and diluted earnings per share rose to 7.57 rupees from 5.80 rupees.

Total income increased by 5.4% to 33,471.29 crore rupees, while other income decreased by 8.2% to 5,093.56 crore rupees. Total expenses, excluding provisions and unexpected expenses, rose by 1.6% to 25,320.33 crore rupees. Union Bank's operating margin improved to 24.35% from 21.55%, and net profit margin rose to 17.27% from 13.94%.

Credit growth outpaces deposit growth

Consolidated loans grew by 19.4% year-on-year to 1,136,280.44 crore rupees as of September 30, 2026, compared to 951,795.76 crore rupees. Deposits increased by 6.9%, reaching 1,322,309.68 crore rupees from 1,237,049.70 crore rupees. The consolidated capital adequacy ratio improved by 91 basis points, standing at 18.61% compared to 17.70%. The Tier 1 capital ratio increased by 171 basis points to 16.72%. Net capital grew by 14.6% to 134,105.53 crore rupees from 117,044.78 crore rupees.

Corporate banking results nearly doubled

Income from corporate and wholesale banking services increased by 11.3%, reaching 12,451.29 crore rupees. The result of this segment grew by 98.2%, amounting to 2,849.34 crore rupees. Retail banking income rose by 9.7% to 12,532.78 crore rupees, and the segment's result increased by 56.2% to 2,514.73 crore rupees. Income from the trading division decreased by 9.7% to 6,886.53 crore rupees, and the segment's result fell by 20.4% to 1,299.55 crore rupees.

For the first half of the fiscal year 27, consolidated net profit increased by 29%, reaching 11,422.52 crore rupees compared to 8,853.90 crore rupees.