Brigade Enterprises Ltd. (BRGD) is one of India’s leading property developers, with over three decades of expertise. Since its inception, Brigade has completed 280+ buildings, amounting to over 90msf. of developed space across a diverse real estate portfolio.
OUTLOOK & VALUATION
Despite a muted performance this quarter, we anticipate a strong rebound in bookings in the near term. With a robust launch pipeline rolling out over the next four quarters, both sales volume and realizations are expected to improve, alongside steady performance in the leasing segment. Considering the strong outlook and valuation comfort, we upgrade our rating on the stock to BUY, with a revised target price of Rs.1,154, based on FY27E adj. NAV per share.