Brigade Enterprises Limited (BRIGADE)

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Brigade Enterprises Limited (BRIGADE) · mywealthgrid

About

Brigade Enterprises Limited is a mid-cap residential and commercial real estate developer with market cap ₹19,296 Crore. Consolidated quarterly revenues of ₹1,280–1,580 Crore show operating margins of approximately 25%, supported by regular dividend and bonus distributions.

Face value: ₹10

Market cap

₹18,579 Cr

P/E

26.7×

P/B

2.7×

Dividend yield

0.8%

ROE

10.3%

ROCE

11.1%

Debt / equity

0.9

OPM

25.1%

EPS (TTM)

₹21.3

Book value

₹209.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation mismatch: PE 29.95 exceeds ROE 10.34%; stock declined 17.33% over 1y suggesting market doubts growth will justify current price. Verify project pipeline and sales velocity.

Margin concentration: Standalone OPM ranges 4.68–16.74% versus consolidated 23–26%, indicating subsidiary reliance; verify main-business sustainability under pressure.

Interest-rate and cycle sensitivity: D/E 0.9 in a capital-intensive, rate-sensitive sector; verify debt maturity profile and refinancing costs as rates remain elevated.

Generated analysis · source review pending

Growth drivers

Consolidated OPM of 25% in recent quarters; if revenue accelerates beyond ₹1,280–1,580 Cr quarterly base, earnings growth would be steep (verify project sales and pipeline conversions)

Regular cash generation evident from dividends and recent bonus; verify whether retained earnings are reinvested to grow the asset base and new projects

D/E of 0.9 provides balance-sheet capacity for growth capex; verify planned new project launches and land acquisitions

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹569.6+1.2%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 25.1%
+Profit CAGR of 30.3% over the last 3 years
+Revenue CAGR of 23.9% over the last 5 years

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

55/100

Business quality: 36
Growth: 68
Valuation: 60

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lodha Developers LimitedLODHALODHA	₹1,10,460 Cr	₹1,20,344 Cr	₹18,181 Cr	₹5,859 Cr	29.5%	₹4,126 Cr	20.6%	20.1%	15.8%	1,405
The Phoenix Mills LimitedPHOENIXLTDPHOENIXLTD	₹69,017 Cr	₹74,313 Cr	₹4,545 Cr	₹2,714 Cr	59.6%	₹1,280 Cr	35.2%	12.4%	11.4%	734
Prestige Estates Projects LimitedPRESTIGEPRESTIGE	₹64,006 Cr	₹78,992 Cr	₹13,053 Cr	₹3,675 Cr	29.2%	₹1,139 Cr	10.3%	13.6%	7.5%	2,755
Oberoi Realty LimitedOBEROIRLTYOBEROIRLTY	₹63,797 Cr	₹66,613 Cr	₹6,322 Cr	₹3,572 Cr	55.9%	₹2,630 Cr	41.7%	17.5%	14.9%	1,581
Godrej Properties LimitedGODREJPROPGODREJPROP	₹48,065 Cr	₹63,680 Cr	₹5,203 Cr	₹-458 Cr	-8.1%	₹1,600 Cr	35.9%	12.5%	10.1%	6,464
Anant Raj LimitedANANTRAJANANTRAJ	₹20,797 Cr	₹21,403 Cr	₹2,551 Cr	₹688 Cr	26.1%	₹579 Cr	22.2%	12%	11.2%	236
Brigade Enterprises LimitedBRIGADEBRIGADE	₹18,579 Cr	₹24,688 Cr	₹5,532 Cr	₹1,465 Cr	25.1%	₹695 Cr	12.7%	11.1%	10.3%	938
Horizon Industrial Parks LimitedHORIZONINDHORIZONIND	₹14,025 Cr	₹20,910 Cr	₹691 Cr	₹531 Cr	76.9%	₹-198 Cr	-29.5%	3.3%	-5.9%	-46
Sobha LimitedSOBHASOBHA	₹12,968 Cr	₹13,970 Cr	₹5,617 Cr	₹364 Cr	6%	₹231 Cr	3.7%	7.4%	4.2%	17,827
Aditya Birla Real Estate LimitedABRELABREL	₹12,293 Cr	₹17,929 Cr	₹450 Cr	₹-375 Cr	-88.2%	₹-116 Cr	-83%	-4.4%	-2.7%	22,467
Sri Lotus Developers And Realty LimitedLOTUSDEVLOTUSDEV	₹11,244 Cr	₹11,374 Cr	₹840 Cr	₹299 Cr	36.5%	₹257 Cr	31.6%	22.3%	16.7%	840
Signatureglobal (India) LimitedSIGNATURESIGNATURE	₹10,376 Cr	₹13,317 Cr	₹2,282 Cr	₹-126 Cr	-1.9%	₹1,044 Cr	42.2%	3.4%	85%	1,407

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,897	2,973	2,632	1,950	2,999	3,445	4,897	5,074	5,697
COGS	845	-539	-271	-622	-321	-966	-620	-844	-1,761
Gross profit	1,052	—	—	—	—	—	—	—	—
	496	2,720	2,239	2,097	2,551	3,548	4,323	4,504	6,031
	556	791	665	475	769	863	1,194	1,414	1,428
OPM %	29.3%	26.6%	25.3%	24.3%	25.6%	25.1%	24.4%	27.9%	25.1%
Depreciation	138	140	192	237	351	315	302	289	312
Interest	259	279	340	347	444	434	491	495	409
	37	54	29	-16	10	164	167	239	198
Profit before tax	196	427	161	-125	-15	278	569	869	904
Tax	63	146	47	-29	50	56	168	189	179
Tax %	32.1%	34.1%	29.4%	-22.9%	330.6%	20.1%	29.5%	21.7%	19.8%
	133	282	114	-96	-65	222	401	680	725
PAT margin %	7%	9.5%	4.3%	-4.9%	-2.2%	6.5%	8.2%	13.4%	12.7%
EPS (₹)	10.4	17.6	6.4	-2.2	3.7	12.6	19.6	28.7	26.4
EPS adjusted (₹)	—	—	4.8	-1.7	2.7	9.5	14.7	21.1	19.8
	19.2%	11.4%	15.6%	—	40.9%	15.8%	10.2%	8.7%	7.6%
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	204	211	230	231	231	244	245
Reserves	—	2,137	2,680	3,014	3,418	5,394	6,576
Minority interest	—	116	—	—	—	277	704
	—	4,933	4,833	4,549	5,337	5,274	6,110
	—	6,424	7,415	8,584	8,900	10,900	12,620
Total equity & liabilities	—	13,820	15,158	16,377	17,886	22,090	26,253
	1,029	1,016	945	919	936	1,028	1,094
CWIP	—	495	541	740	1,232	1,929	3,584
Investments	—	4,092	4,469	3,824	3,707	4,124	4,137
	—	8,216	9,203	10,894	12,012	15,010	17,439
Total assets	—	13,820	15,158	16,377	17,886	22,090	26,253

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Real estate	3,969.85	560.07	14,322.27	11,218.96	3,103.31	18.05
Leasing	1,297.07	730.54

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	26.6%	25.2%	24.2%	25.6%	24.9%	24.4%	27.9%	25.1%
EBIT margin %	21.9%	17.9%	12.1%	13.9%	15.8%	18.2%	22.2%	19.6%
PAT margin %	9.5%	4.3%	-4.9%	-2.2%	6.5%	8.2%	13.4%	12.7%
Working capital
Receivable days	—	—	99	61	49	37	45	38
Inventory days	—	—	1,457	1,017	1,034	763	884	975
Payable days	—	—	142	106	104	75	78	75
NWC days	—	—	1,414	973	980	725	851	938
Leverage
Current ratio	—	—	1.04	1.12	1.11	1.16	1.21	1.24
Debt to EBITDA	—	—	10.45	6.31	5.3	4.47	3.73	4.28
Debt to equity	—	—	2.1	1.66	1.4	1.46	0.94	0.9
Interest coverage	2.5	1.5	0.9	1.1	1.5	2.2	2.8	3.2
Asset turnover	—	—	0.14	0.2	0.21	0.27	0.23	0.22
Return ratios
Return on assets %	—	—	-0.7%	-0.4%	1.4%	2.2%	3.1%	2.8%
Return on capital employed %	—	—	4.4%	6.8%	8.7%	12.9%	14%	11.1%
Return on equity %	—	—	-4.1%	-2.2%	6.8%	11%	12.1%	10.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	43.77%	43.75%	43.72%	43.72%	41.37%	41.37%	41.14%	41.13%	41.12%	41.12%	41.11%	41.1%
	13.4%	13.73%	14.87%	16.17%	18.46%	20.23%	20.21%	19.33%	18.66%	18.14%	16.75%	15.63%
	25.4%	25.01%	23.84%	22.86%	24.02%	22.92%	22.87%	23.44%	23.28%	23.54%	24.74%	25.47%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	17.43%	17.51%	17.57%	17.25%	16.15%	15.48%	15.78%	16.1%	16.94%	17.2%	17.4%	17.8%
No. of shareholders	—	—	—	—	—	—	—	—	1,74,585	1,59,156	1,59,254	1,62,943

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 14 fund houses

Held by these funds

13.4%

of the company's equity

All mutual funds

22.57%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

54 schemes · 14 fund houses

		Shares
Small Cap Fund	Axis Mutual Fund	82.06 L	538.21	1.71%	2.516%	-0
Smallcap Fund	SBI Mutual Fund	59.13 L	387.82	0.91%	1.813%	-0
Portfolio of Kotak Small Cap Fund	Kotak Mahindra Mutual Fund	54.83 L	359.61	1.83%	1.681%	-0
Franklin India Small Cap Fund (Formerly known as Franklin India Smaller Companies Fund) ^	Franklin Templeton Mutual Fund	53.12 L	348.36	2.36%	1.628%	-0
Infrastructure Fund	ICICI Prudential Mutual Fund	42.58 L	279.23	3.26%	1.305%	-0
SMALL CAP FUND	Nippon India Mutual Fund	24.44 L	160.27	0.19%	0.749%	-0
HOUSING OPPORTUNITIES FUND	ICICI Prudential Mutual Fund	12.09 L	79.26	2.91%	0.37%	-0
POWER & INFRA FUND	Nippon India Mutual Fund	11.8 L	77.37	0.95%	0.362%	-0

1–8 of 54

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

90 announcementsExport CSV

29 Sept 2026, 7:21 pmCompany Update

Announcement Under Regulation 30 - Updates

General PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	26.6%	25.2%	24.2%	25.6%	24.9%	24.4%	27.9%	25.1%
EBIT margin %	21.9%	17.9%	12.1%	13.9%	15.8%	18.2%	22.2%	19.6%
PAT margin %	9.5%	4.3%	-4.9%	-2.2%	6.5%	8.2%	13.4%	12.7%
Working capital
Receivable days	—	—	99	61	49	37	45	38
Inventory days	—	—	1,457	1,017	1,034	763	884	975
Payable days	—	—	142	106	104	75	78	75
NWC days	—	—	1,414	973	980	725	851	938
Leverage
Current ratio	—	—	1.04	1.12	1.11	1.16	1.21	1.24
Debt to EBITDA	—	—	10.45	6.31	5.3	4.47	3.73	4.28
Debt to equity	—	—	2.1	1.66	1.4	1.46	0.94	0.9
Interest coverage	2.5	1.5	0.9	1.1	1.5	2.2	2.8	3.2
Asset turnover	—	—	0.14	0.2	0.21	0.27	0.23	0.22
Return ratios
Return on assets %	—	—	-0.7%	-0.4%	1.4%	2.2%	3.1%	2.8%
Return on capital employed %	—	—	4.4%	6.8%	8.7%	12.9%	14%	11.1%
Return on equity %	—	—	-4.1%	-2.2%	6.8%	11%	12.1%	10.6%

20 deals · 9 Sept 2021 – 17 Oct 2022

Date	Client	Type	Venue	Side	Quantity	Price	Value
17 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	3,07,223	₹494.75	₹15.20 Cr
17 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	3,07,223	₹494.75	₹15.20 Cr
17 Oct 2022	ISHARES MSCI INDIA SMALL-CAP ETF	Block	BSE	Buy	48,584	₹494.75	₹2.40 Cr
17 Oct 2022	ISHARES INDIA SC MAURITIUS COMPANY	Block	BSE	Sell	48,584	₹494.75	₹2.40 Cr
11 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	2,96,253	₹513.15	₹15.20 Cr
11 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	2,96,253	₹513.15	₹15.20 Cr
11 Oct 2022	ISHARES MSCI INDIA SMALL-CAP ETF	Block	BSE	Buy	46,848	₹513.15	₹2.40 Cr
11 Oct 2022	ISHARES INDIA SC MAURITIUS COMPANY	Block	BSE	Sell	46,848	₹513.15	₹2.40 Cr
3 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	1,97,231	₹508.70	₹10.03 Cr
3 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	1,97,231	₹508.70	₹10.03 Cr

1–10 of 20

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
29 Sept 2026, 7:21 pm	Company Update General	Announcement Under Regulation 30 - Updates	PDF
28 Sept 2026, 4:41 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 4:15 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
18 Sept 2026, 1:22 pm	Company Update General	Brigade Enterprises Ltd - 532929 - Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015-ESG Rating	PDF
17 Sept 2026, 4:07 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
4 Sept 2026, 4:41 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
4 Sept 2026, 4:36 pm	Company Update General	Brigade Enterprises Ltd - 532929 - Announcement Under Reg 30-Material Information	PDF
1 Sept 2026, 9:37 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Acquisition	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	796	1,032	966	334	995	-137
	-748	-971	-271	-385	-590	-1,436
	37	33	-695	246	860	1,202
Net cash flow	84	94	1	195	1,265	-372
Free cash flow	300	824	966	334	995	-1,876
CFO / Operating profit %	168.6%	134.7%	112.5%	28%	70.4%	-9.6%

Brigade Enterprises Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

20

1

2

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Exceptional Items · revenue

Brigade Enterprises Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends20

Board meetings1

Bonus issues2

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Exceptional Items · revenue

20

1

2