Brigade Enterprises Q1 Review- A Mixed Bag; Residential Segment Muted, While Annuity Fares Well: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Brigade Enterprise Ltd. reported bookings of Rs 10.9 billion in Q1 FY25, up 9% YoY (16% below estimate). Sales volume stood at 2.7 million square feet, down 21% YoY.Aided by the launch of a premium project in Bengaluru, Brigade Enterprises recorded the highest ever quarterly realisation of Rs 9,440 psf, up 38% YoY.Towards the end of Q1 , the company also launched its much awaited luxury project ‘Brigade Icon’ in Chennai. The project’s contribution to total bookings has spilled over to Q2 FY25. In FY25, Brigade Enterprises is aiming to launch 12.6 msf of projects with a gross development value value of ~Rs 130 billion across the three markets of Bengaluru, Chennai, and Hyderabad. With scale-up in Chennai and Hyderabad, we expect the company to deliver 32% compound annual growth rate in pre-sales over FY24-26E to Rs 105 billion. P&L performance: Revenue increased 65% YoY to Rs 11 billion (6% below estimate). Ebitda stood at Rs 2.9 billion, up 67% YoY with a margin of 27% (up 40 bp YoY). Adjusted profit after tax surged two times YoY to Rs 837 million, clocking a margin of 8%..Click on the attachment to read the full report:.Brigade To Develop Bengaluru Project Set To Generate Rs. 70 Crore Rent Income .DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Brigade Enterprises Q1 Review- A Mixed Bag; Residential Segment Muted, While Annuity Fares Well: Motilal Oswal

Strong pipeline of ~13 msf which should enable the company to sustain the growth traction going ahead, says the brokerage.

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Brigade Enterprises Q1 Review- A Mixed Bag; Residential Segment Muted, While Annuity Fares Well: Motilal Oswal

Strong pipeline of ~13 msf which should enable the company to sustain the growth traction going ahead, says the brokerage.

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