Realty firm Brigade Enterprises on Tuesday reported a 56 per cent decline in its consolidated net profit at Rs 38.53 crore for the first quarter of this fiscal year.

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Its net profit stood at Rs 87.68 crore in the year-ago period.

Total income also fell to Rs 685.43 crore in the April-June period of 2023-24 fiscal from Rs 920.28 crore in the corresponding period of the previous year, according to a regulatory filing.

Bengaluru-based Brigade Enterprises has developed many residential, commercial (office and retail) and hotel projects across South India in the cities of Bengaluru, Mysuru, Hyderabad, Chennai and Kochi.