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Brigade Enterprises

BRIGADE NSE
₹541.10 No trade today
P/E
25.40
View as Markdown
MCP
Close 4 Nov 2026 ₹541.10 −203.65 −27.3% 1Y
Start ₹744.75

Key Fundamentals

SmallcapRealtyConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
10.50%
Debt to Equity
0.93
EPS (TTM)
₹21.30
Book Value
₹219.02
Market Cap
—
P/E (TTM)
25.40
P/B
2.47
ROE
10.50%
Dividend Yield
0.38%
EBITDA
₹1,639 Cr
52W High
₹765.68
52W Low
₹450.75
Volume
0

Peer Comparison

Consumer Discretionary › Realty › Residential Commercial Projects › Residential, Commercial Projects

Brigade Enterprises peer comparison
DLF
₹720.0039.02₹1,76,861 Cr3.911.13%9.50%6.32%₹6,375 Cr₹4,567 Cr
Lodha Developers
₹1,122.0027.17₹1,09,477 Cr4.510.40%15.50%16.40%₹18,181 Cr₹4,129 Cr
Phoenix Mills
₹2,079.5058.10₹73,757 Cr8.170.12%11.00%12.40%₹4,545 Cr₹1,629 Cr
Prestige Estates Projects
₹1,580.0059.74₹67,457 Cr4.180.13%7.53%10.40%₹13,053 Cr₹1,265 Cr
Oberoi Realty
₹1,710.9023.64₹61,958 Cr3.260.24%14.60%17.30%₹6,214 Cr₹2,632 Cr
Godrej Properties
₹1,739.0032.73₹51,392 Cr2.710.60%8.82%7.63%₹5,203 Cr₹1,591 Cr
Brigade Enterprises (this company)
₹541.1025.40₹17,553 Cr2.470.38%10.50%10.50%₹5,532 Cr₹784 Cr
Median 7 companies₹1,580.0032.73₹67,457 Cr3.910.38%10.50%10.50%₹6,214 Cr₹1,629 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

41 Weak

Data confidence 100/100

Category scores

Quality
31
Poor
Returns, margins, earnings quality 22% weight
Valuation
59
Good
Cheap vs sector & own history 24% weight
Growth
24
Poor
Sales & profit trajectory 9% weight
Financial Health
26
Poor
Solvency, leverage, coverage 9% weight
Momentum
31
Poor
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 89.0% CAGR over last 5 years

Weaknesses

3
  • Stock is trading at 2.62 times its book value
  • Company has a low return on equity of 12.5% over last 3 years.
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1063
OscillatorsBearish261
Moving AveragesStrong Bearish802

Key readings

RSI (14)
39.90
Neutral
MACD (12,26,9)
−16.98
Bearish
SMA (50)
599.69
Bearish
SMA (200)
559.51
Bearish

As of

Analyst Rating

Based on 14 analysts
BUY93%

13 of 14 analysts rate Buy, 0 Hold, 1 Sell.

As of

BUY
13
93%
HOLD
0
0%
SELL
1
7%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+10.83%
5Y+23.91%
3Y+18.25%
1Y+12.28%
TTM+4.83%

Net profit

Net profit growth by window
10Y+17.96%
5YTurned to profit
3Y+48.36%
1Y+6.62%
TTM+3.43%

Operating cash flow

Operating cash flow growth by window
10YTurned negative
5YTurned negative
3YTurned negative
1YTurned negative
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+1.11 pp
5Y+0.74 pp
3Y+0.01 pp
1Y−2.86 pp
TTM−0.90 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹2,024 Cr
Mar 2018₹1,897 Cr
Mar 2019₹2,973 Cr
Mar 2020₹2,632 Cr
Mar 2021₹1,950 Cr
Mar 2022₹2,999 Cr
Mar 2023₹3,445 Cr
Mar 2024₹4,897 Cr
Mar 2025₹5,074 Cr
Mar 2026₹5,697 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹167 Cr
Mar 2018₹133 Cr
Mar 2019₹282 Cr
Mar 2020₹114 Cr
Mar 2021−₹96.00 Cr
Mar 2022−₹65.00 Cr
Mar 2023₹222 Cr
Mar 2024₹401 Cr
Mar 2025₹680 Cr
Mar 2026₹725 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹528 Cr +10.4% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

Brigade Enterprises Ltd trades at ₹526.85 as of 2026-11-03 with a market cap of ₹17,233 Cr, a trailing P/E of 24.73, and a price-to-book of 2.41. The company has delivered strong 5-year profit CAGR of 89% but TTM profit growth has turned negative at -9%, and the stock sits 32% below its 52-week high of ₹775.65.

Bull Case 7
  • Exceptional 5-year compounded profit growth of 89% CAGR, significantly above the 5-year sales CAGR of 24%, indicating expanding margins over this period
  • Solid long-term revenue trajectory with 10-year compounded sales growth of 11% and 3-year compounded sales growth of 18%, reflecting sustained demand for the company's real estate offerings
  • 10-year compounded profit growth of 18% demonstrates the company's ability to grow earnings through multiple real estate cycles
  • Stock has corrected 32% from its 52-week high of ₹775.65 to ₹526.85, which may offer a more reasonable entry valuation compared to recent peaks
  • 10-year stock CAGR of 20% shows meaningful long-term wealth creation for shareholders over a full market cycle
  • ROCE of 9.89% is marginally above ROE of 9.63%, suggesting the company is generating incremental returns on borrowed capital as well
  • TTM revenue growth remains positive at 5%, indicating the top line continues to expand even as profitability has come under pressure
Bear Case 8
  • TTM profit growth has turned negative at -9%, a sharp reversal from the 3-year profit CAGR of 35%, signalling near-term earnings pressure
  • Debt-to-equity ratio of 0.93 is elevated for a real estate company, and there are indications the company may be capitalising interest costs, which could mask the true debt servicing burden on the P&L
  • ROE of 9.63% is modest, and even the 3-year average ROE of 12% is relatively low, suggesting the company is not generating high returns on shareholders' equity
  • Stock is trading at 2.41 times book value despite the sub-10% current ROE, which is a demanding valuation for the level of return on equity being generated
  • The stock has declined 27% over the past 1 year, significantly underperforming the broader market and indicating weakening investor sentiment
  • Dividend yield of just 0.38% provides negligible income support, offering little cushion during periods of capital depreciation
  • 3-year stock CAGR of only 6% and 5-year stock CAGR of 10% lag the company's underlying profit growth rates, suggesting the market has been repricing the stock lower on a valuation basis
  • P/E of 24.73 on trailing earnings that are already declining may understate the true earnings multiple if profits contract further in coming quarters

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Brigade Enterprises delivered strong profit and margin expansion in Q2 FY27 despite a 12.6% revenue decline and 10% drop in pre-sales. The annuity businesses — leasing at 74% margin and hospitality growing 41% — provide earnings stability. The ambitious ₹40,000 crore three-year investment plan and expansion into Chennai and Hyderabad signal long-term growth intent. Key risk is the back-loaded FY27 guidance of ₹90 billion pre-sales after a soft first half — execution in H2 will be the decisive test.

Headwinds 3
  • Pre-sales down 10% in Q2 Nov 02

    Pre-sales declined 10% YoY and collections fell 18% YoY in Q2 FY27, resulting in a weak first-half performance.

  • Revenue drops 12.6% in Q2 Oct 29

    Net consolidated total income declined 12.6% to ₹1,250 crore in Q2 FY27 from ₹1,430 crore in Q2 FY26, reflecting challenging market conditions.

  • Commercial paper debt issuance Oct 29

    Board approved allotment of 4,000 unsecured commercial papers worth ₹200 crore aggregate maturity value on Sep 29, 2026, adding to near-term liabilities.

Positives 6
  • Q2 profit surges 29% Oct 29

    Net profit rose 29% to ₹219 crore and EBITDA jumped 27.5% to ₹478 crore in Q2 FY27, with operating margin at 23% and net margin at 21.75%.

  • ₹40K crore growth roadmap Oct 08

    Brigade unveiled a ₹40,000 crore investment plan over three years targeting 40 million sq ft development pipeline across residential and commercial sectors.

  • Strong leasing and hospitality Oct 29

    Leasing revenue hit ₹329 crore with 74% operating margin and 90% occupancy, while hospitality operating profit grew 41% YoY to ₹59 crore at 37% margin.

Neutral 2
  • Gross debt-equity at 0.46 Oct 29

    Net worth stood at ₹6,517.47 crore as of Sep 30, 2026, with gross debt-equity ratio of 0.46 and total debt-to-assets ratio of 0.16.

  • ₹90B full-year guidance held Nov 02

    Management reiterated full-year FY27 pre-sales guidance of ₹90 billion despite weak H1, implying significant back-ended delivery in H2.

Quarterly Results

₹ Cr
BRIGADE quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
654
1,367
1,174
1,702
1,078
1,072
1,464
1,460
1,281
1,383
1,575
1,458
1,116
1,196
Expenses
479
1,042
912
1,270
785
780
1,050
1,044
958
1,056
1,164
1,093
755
772
Operating Profit
175
325
262
433
293
292
414
416
323
328
411
365
361
425
OPM %
27%
24%
22%
25%
27%
27%
28%
28%
25%
24%
26%
25%
32%
35%
Other Income
31
41
34
60
36
66
66
72
52
46
29
72
107
54
Interest
108
110
135
138
152
123
114
107
106
102
90
112
109
111
Depreciation
68
76
82
76
68
69
76
76
76
76
80
80
73
80
PBT
30
180
79
279
108
166
289
306
194
196
270
244
286
288
Tax %
27%
38%
30%
24%
26%
31%
18%
18%
18%
13%
24%
22%
24%
24%
Net Profit
22
112
56
211
81
115
236
249
158
170
206
191
217
219
EPS (₹)
1.25
4.34
2.39
6.69
2.72
3.65
7.25
7.58
4.6
4.98
5.72
4.46
6.14
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
BRIGADE profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,311
2,038
2,024
1,897
2,973
2,632
1,950
2,999
3,445
4,897
5,074
5,697
5,532
Expenses
928
1,548
1,444
1,341
2,174
1,965
1,474
2,229
2,578
3,695
3,654
4,264
4,068
Operating Profit
383
490
580
557
799
667
476
770
866
1,202
1,421
1,433
1,464
OPM %
29%
24%
29%
29%
27%
25%
24%
26%
25%
25%
28%
25%
26%
Other Income
20
34
29
36
47
27
−17
9
161
160
233
193
254
Interest
131
199
246
259
278
340
347
444
434
491
495
409
413
Depreciation
99
106
123
138
140
192
237
351
315
302
289
312
310
PBT
172
219
240
196
427
161
−125
−15
278
569
869
904
995
Tax %
33%
37%
31%
32%
34%
29%
−23%
331%
20%
29%
22%
20%
—
Net Profit
116
139
167
133
282
114
−96
−65
222
401
680
725
784
EPS (₹)
4.22
5.47
6.73
5.12
8.81
4.79
−1.65
2.7
9.47
14.66
21.05
19.76
21.3
Div. Payout %
24%
18%
19%
20%
11%
31%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
42%
16%
10%
9%
8%
—

Balance Sheet

₹ Cr
BRIGADE balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
113
113
114
136
136
204
211
230
231
231
244
245
Reserves
1,244
1,425
1,581
2,151
2,033
2,077
2,137
2,680
3,014
3,418
5,394
6,576
Borrowings
1,663
2,459
2,576
3,390
3,785
4,522
5,005
4,906
4,634
5,470
5,464
6,344
Other Liabilities
1,278
2,000
2,079
2,133
4,845
5,448
6,461
7,285
8,486
8,740
10,973
13,040
Total Liabilities
4,298
5,997
6,350
7,810
10,800
12,251
13,814
15,101
16,365
17,860
22,076
26,204
Fixed Assets
1,362
340
1,431
1,805
2,277
2,998
5,020
4,905
4,681
4,593
6,899
8,537
CWIP
486
1,411
1,564
2,129
2,010
2,097
495
541
740
1,232
138
222
Investments
34
994
54
236
98
72
89
509
62
50
43
62
Other Assets
2,416
3,252
3,302
3,640
6,416
7,083
8,210
9,147
10,882
11,985
14,995
17,383
Total Assets
4,298
5,997
6,350
7,810
10,800
12,251
13,814
15,101
16,365
17,860
22,076
26,204

Cash Flow

₹ Cr
BRIGADE cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
26
339
398
49
467
465
803
1,032
966
334
995
−137
Investing
−384
−948
−335
−1,084
−452
−717
−748
−971
−271
−379
−590
−1,436
Financing
373
631
−58
1,032
45
321
30
33
−695
241
860
942
Net Cash Flow
16
21
5
−4
60
69
84
94
1
195
1,265
−631
Free Cash Flow
−193
−570
29
−865
−133
−268
336
824
701
66
358
−1,871
CFO/EBITDA
20
69
82
26
72
79
180
148
130
48
93
26

Ratios

BRIGADE financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
4
8
7
34
52
60
99
61
49
37
45
38
Inventory Days
—
3,042
3,244
3,898
2,040
3,653
9,712
8,486
—
2,498
4,142
4,667
Days Payable
—
559
740
942
258
351
949
885
—
245
366
361
Cash Conversion Cycle
4
2,491
2,511
2,991
1,834
3,362
8,861
7,662
49
2,290
3,821
4,345
Working Capital Days
−11
7
0
59
66
41
−64
−57
−61
−24
−65
26
ROCE %
11%
12%
11%
9%
12%
8%
4%
6%
8%
13%
13%
11%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Brigade Enterprises insights

65 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 41.09%
  • DIIs 26.90%
  • FIIs 14.45%
  • Public 12.45%
  • Others 5.11%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Brigade Enterprises

What does Brigade Enterprises Ltd do?
Brigade Enterprises Ltd was established in 1986. It is a real estate developer in South India, based in Bengaluru, and expanding its area of operations in other parts of India.
Where is Brigade Enterprises Ltd (BRIGADE) listed?
Brigade Enterprises Ltd trades as BRIGADE on the NSE and under code 532929 on the BSE.
Which sector does Brigade Enterprises Ltd belong to?
Brigade Enterprises Ltd is classified under the Realty sector, in the Residential Commercial Projects industry.
What is the PE ratio of Brigade Enterprises Ltd?
Brigade Enterprises Ltd trades at a PE ratio of 25.40 as of 4 Nov 2026, on earnings per share of ₹21.3, against a book value of ₹219.02 per share.
What is the 52-week high and low of Brigade Enterprises Ltd?
Over the last 52 weeks Brigade Enterprises Ltd has traded between ₹450.75 and ₹765.68 as of 4 Nov 2026.
Does Brigade Enterprises Ltd pay dividends?
Brigade Enterprises Ltd has a dividend yield of 0.38%.
What is the Return on Equity (ROE) of Brigade Enterprises Ltd?
Brigade Enterprises Ltd reported a return on equity of 10.50%. Its debt-to-equity ratio is 0.93.

Company Information

Brigade Enterprises Ltd was established in 1986. It is a real estate developer in South India, based in Bengaluru, and expanding its area of operations in other parts of India. It has completed over 250 buildings aggregating to over 70 mn. sqft of developed space in residential, offices, retail, and hospitality sectors across Bengaluru and Mysuru, Chennai, Ahmedabad, Hyderabad, Kochi

Website brigadegroup.com
CEO Mr. Mysore Ramachandrasetty Jaishankar
Employees 3,043
Listed 31 Dec 2007
Face Value ₹10

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