BRIGADE
Brigade Enterprises share price & financials
- Price
- ₹566.65
- Market cap
- ₹20.5k Cr
- Sector
- Realty
- Calls analysed
- 7
Brigade Enterprises Limited Q1 FY27
What went well
- Consolidated revenue for Q1 FY27 stood at INR 1,179 crores.
- EBITDA margin expanded by 800 basis points to 36% compared to 28% in Q1 FY26.
- Consolidated PAT grew 37% year-on-year to INR 217 crores.
What to watch
- Q1 FY27 net sales (pre-sales) were INR 1,061 crores, 5% lower against Q1 FY26.
- Planned relaunch of Brigade Morgan Heights was impacted by environmental clearance revocation, leading to project delay and refunding affected homebuyers.
What Brigade Enterprises Limited does
Brigade Enterprises is a multi-asset real estate developer operating across three reported segments: Real Estate (residential, plotted and commercial units built for sale), Lease Rentals (annuity office and retail space it owns and leases out), and Hospitality (hotels operated under global brand tie-ups). Founded in 1986 and headquartered in Bengaluru, it has delivered over 100 million sq.ft. across 300+ buildings and carries an ongoing project pipeline spanning Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram and GIFT City. Its annuity portfolio includes licensed World Trade Center developments, Orion-branded malls, and BuzzWorks co-working centres, alongside multi-brand hotels run in partnership with Marriott (Sheraton), Accor (Grand Mercure) and IHG (Holiday Inn, InterContinental). Brigade also runs Brigade REAP, billed as India's first real estate accelerator program.
Segments
- Real Estate
- Lease Rentals
- Hospitality
- Cumulative area delivered
- 300+ buildings, 100+ Mn sq.ft.
- Ongoing real estate & leasing projects
- 27.3 Mn sq.ft.
- Land bank
- 568 acres across Bengaluru, Chennai, Hyderabad, Mysuru, Kochi & Thiruvananthapuram
- Cities/markets of operation
- 7 (Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, GIFT City)
- Operating leasing portfolio (office + retail)
- 9.29 Mn sq.ft. leasable area, including 3 World Trade Centers and 3 Orion malls
- Hospitality brand portfolio
- Multi-brand hotels (Sheraton Grand, Grand Mercure, Holiday Inn, InterContinental) plus a 1,700-key upcoming pipeline
Guidance record · Q1 FY27
what the last two calls moved 19 tracked 2 delivered 6 missed 11 open- Leasing EBITDA Margin missed said Q3 FY25 Promised: 71-72% Q1 FY27: Q1 FY27 margin was 70%, below the 71-72% target.
- FY27 Pre-sales Value Growth at risk said Q4 FY26 Promised: at least 20% growth (aiming for ₹9,000 crores) Q1 FY27: Q1 FY27 pre-sales declined 5% YoY to ₹1,061 crores. Management reiterated the full-year guidance of ₹9,000 crores (~21% growth), but the slow start makes the target challenging.
- FY26 Rental Revenue Projection delivered said Q2 FY26 Promised: ₹800-850 crores Q4 FY26: Achieved FY26 Leasing segment revenue of ₹1,303 crores, meeting the upwardly revised guidance of ₹1,300 crores.
All 19 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 12.9%, net profit up 37.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,072 | 1,464 | 1,460 | 1,281 | 1,383 +29% | 1,575 +8% | 1,458 −0% | 1,116 −13% |
| EBITDA | 292 | 414 | 416 | 323 | 328 +12% | 411 −1% | 365 −12% | 361 +12% |
| Net profit | 115 | 236 | 249 | 158 | 170 +48% | 206 −13% | 191 −23% | 217 +37% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −31.8% 1Y
1Y: ₹935.9 on 10 Sept 2025 → ₹638.65. High ₹1,041.4 (3 Nov 2025), low ₹500.65 (30 Jun 2026).
How the price took the results
close before → close after
- Q1 FY27
- +0.3%
- 14 Aug
- Q4 FY26
- −4.4%
- 7 May
- Q3 FY26
- −0.1%
- 2 Feb
- Q2 FY26
- +0.4%
- 30 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 18.3% a year over 3 years, FY23 to FY26. Operating margin held at 25.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹3.4k Cr | ₹4.9k Cr | ₹5.1k Cr | ₹5.7k Cr |
| Operating profit | ₹859 Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.4k Cr |
| Operating margin | 24.9% | 24.4% | 27.9% | 25.0% |
| Interest | ₹434 Cr | ₹491 Cr | ₹496 Cr | ₹410 Cr |
| Depreciation | ₹314 Cr | ₹302 Cr | ₹289 Cr | ₹312 Cr |
| Net profit | ₹223 Cr | ₹401 Cr | ₹681 Cr | ₹725 Cr |
| Net margin | 6.5% | 8.2% | 13.4% | 12.7% |
| Cash from operations | ₹966 Cr | ₹334 Cr | ₹995 Cr | ₹-137 Cr |
| Free cash flow | ₹701 Cr | ₹66 Cr | ₹358 Cr | ₹-1.9k Cr |
| ROCE | 8.0% | 13.0% | 13.0% | 11.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹211 Cr | ₹230 Cr | ₹231 Cr | ₹231 Cr | ₹244 Cr | ₹245 Cr |
| Reserves | ₹2.1k Cr | ₹2.7k Cr | ₹3.0k Cr | ₹3.4k Cr | ₹6.2k Cr | ₹6.6k Cr |
| Borrowings | ₹5.0k Cr | ₹4.9k Cr | ₹4.6k Cr | ₹5.5k Cr | ₹5.4k Cr | ₹6.3k Cr |
| Other liabilities | ₹6.5k Cr | ₹7.3k Cr | ₹8.5k Cr | ₹8.7k Cr | ₹12.4k Cr | ₹13.0k Cr |
| Total liabilities | ₹13.8k Cr | ₹15.1k Cr | ₹16.4k Cr | ₹17.9k Cr | ₹24.3k Cr | ₹26.2k Cr |
| Fixed assets | ₹5.0k Cr | ₹4.9k Cr | ₹4.7k Cr | ₹4.6k Cr | ₹8.1k Cr | ₹8.5k Cr |
| Capital work in progress | ₹495 Cr | ₹541 Cr | ₹740 Cr | ₹1.2k Cr | ₹154 Cr | ₹222 Cr |
| Investments | ₹89 Cr | ₹509 Cr | ₹62 Cr | ₹50 Cr | ₹7 Cr | ₹62 Cr |
| Other assets | ₹8.2k Cr | ₹9.1k Cr | ₹10.9k Cr | ₹12.0k Cr | ₹16.0k Cr | ₹17.4k Cr |
| Total assets | ₹13.8k Cr | ₹15.1k Cr | ₹16.4k Cr | ₹17.9k Cr | ₹24.3k Cr | ₹26.2k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −3.70 pp while DIIs added +2.02 pp. The shareholder count grew 23% to 1,62,943.
- Promoters
- 41.1%
- FIIs
- 15.6%
- DIIs
- 25.5%
- Public
- 17.8%
Since Jun 2025
- FIIs −3.70 pp
- DIIs +2.02 pp
- Public +1.71 pp
How it drifted, 12 quarters
Over this window promoters fell from 43.8% to 41.1% — −2.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 43.8%, FIIs 13.4%, DIIs 25.4%, Public 17.4%.Dec '23: Promoters 43.8%, FIIs 13.7%, DIIs 25.0%, Public 17.5%.Mar '24: Promoters 43.7%, FIIs 14.9%, DIIs 23.8%, Public 17.6%.Jun '24: Promoters 43.7%, FIIs 16.2%, DIIs 22.9%, Public 17.3%.Sep '24: Promoters 41.4%, FIIs 18.5%, DIIs 24.0%, Public 16.1%.Dec '24: Promoters 41.4%, FIIs 20.2%, DIIs 22.9%, Public 15.5%.Mar '25: Promoters 41.1%, FIIs 20.2%, DIIs 22.9%, Public 15.8%.Jun '25: Promoters 41.1%, FIIs 19.3%, DIIs 23.4%, Public 16.1%.Sep '25: Promoters 41.1%, FIIs 18.7%, DIIs 23.3%, Public 16.9%.Dec '25: Promoters 41.1%, FIIs 18.1%, DIIs 23.6%, Public 17.2%.Mar '26: Promoters 41.1%, FIIs 16.8%, DIIs 24.7%, Public 17.4%.Jun '26: Promoters 41.1%, FIIs 15.6%, DIIs 25.5%, Public 17.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- ICICI Prudential Smallcap Fund Mutual fund newly disclosed 4.11% held
- UTI Small Cap Fund Mutual fund newly disclosed 2.22% held
- Kotak Small Cap Fund Mutual fund newly disclosed 2.01% held
- SBI Nifty Smallcap 250 ETF Mutual fund newly disclosed 1.86% held
- Franklin India Large & Mid Cap Fund Mutual fund newly disclosed 1.78% held
- SBI Life Insurance Co. Ltd Insurer newly disclosed 1.29% held
- Nippon Life India Trustee Ltd-A/C Nippon India Bal Mutual fund +0.40 pp 1.58% held
The same filing shows 1 holder trimming and 5 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Brigade Enterprises Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Mysore Ramachandrasetty Jaishankar | 14.13% | unchanged |
| Githa Shankar | 11.47% | unchanged |
| Nirupa Shankar | 6.57% | unchanged |
| ICICI Prudential Smallcap Fund Mutual fund | 4.11% | newly disclosed |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual F Mutual fund | 2.87% | −0.07 pp |
| M K Manjula | 2.75% | unchanged |
| Mysore Holdings Private Limited | 2.57% | unchanged |
| Mysore Ramachandra Setty Krishnakumar | 2.42% | unchanged |
| UTI Small Cap Fund Mutual fund | 2.22% | newly disclosed |
| Kotak Small Cap Fund Mutual fund | 2.01% | newly disclosed |
| Kotak Funds - India Midcap Fund Global fund house | 1.86% | unchanged |
| SBI Nifty Smallcap 250 ETF Mutual fund | 1.86% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in BRIGADE
Filings to Aug 2026
1 new, 8 added, 2 trimmed, 0 sold out — net +12.77 L shares (+9.1%).
- Held by funds
- ₹979 Cr
- 16 schemes
- Biggest holder
- SBI Smallcap Fund
- ₹388 Cr · 0.9% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Smallcap Fund SBI Mutual Fund | ₹388 Cr | held | May '22 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹160 Cr | held | Aug '21 |
| HDFC Multi Cap Fund HDFC Mutual Fund | ₹116 Cr | +2.80 L | Sep '24 |
| Nippon India Power & Infra Fund Nippon India Mutual Fund | ₹77 Cr | held | May '23 |
| SBI ESG Exclusionary Strategy Fund SBI Mutual Fund | ₹60 Cr | +5.89 L | Jul '26 |
| Nippon India Flexi Cap Fund Nippon India Mutual Fund | ₹56 Cr | held | Apr '26 |
| Nippon India Balanced Advantage Fund Nippon India Mutual Fund | ₹42 Cr | +1.00 L | Apr '26 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹19 Cr | +0.04 L | Oct '20 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
8 added, 2 trimmed — net +12.77 L shares (+9.1%)
- Funds are sitting on
- +8%
- vs est. average cost
- Held by funds
- ₹979 Cr
- 16 schemes · ≈ 4.2% of the company
- Biggest holder
- SBI Smallcap Fund
- ₹388 Cr · 0.9% of that fund
- Longest holder
- Nippon India Nifty Smallcap 250 Index Fund
- 5y 11m · since Oct '20
Shares held by these funds +43%
Aug '23 1.46 cr shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Brigade Enterprises Limited
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