The year that was
The financial year that went by, FY 2020-21, was to my mind, a year of the ‘Mask’. We all hid behind the mask. The complete lockdown had thrown most businesses out of gear. Residential real estate was no exception. However, our teams worked on a war footing and made all arrangements to work from home and conduct business with our customers online. The entire booking process for all our residential projects was transformed and moved into digital mode.
While the April-June months were low on sales, with the easing of lockdown in the July-September’20 quarter, business had started to pick up and we witnessed a few distinct trends. Many customers wished to buy a home of their own as a safety net, leading to increased demand for bigger homes and ready-to-move-in homes. The launch of Brigade Citadel in Hyderabad added to our overall sales velocity. The last two quarters of the financial year saw robust sales and collections, leading to a record year of residential sales and cash inflows for the company.
I would like to appreciate the hard work put in by all our team members, including those in the Estate Management team who manage our completed projects. They were our frontline warriors, braving it all to manage the affairs of the projects during the lockdown. Similar were the efforts put in by all our other team members. All of them endured the lockdown, with unhinging situations both at home and outside, ensuring business continuity. A huge salute to the team spirit that ensured that we at Brigade not only survived but thrived during this period of uncertainty.
CEO - Residential, Brigade Group