BRIGADERealty

Brigade Enterprises Limited

Residential, Commercial Projects · ISIN INE791I01019 · BSE 532929 · NSE EQ · FV ₹10
Last price
₹621
-0.95%today
What this company does

Brigade Enterprises Limited operates in Residential, Commercial Projects, part of the Realty sector. It booked ₹1,116 cr of revenue in its latest quarter (Q1 FY27) and kept 18.0% of sales as profit. It is the 8th largest of 9 Residential, Commercial Projects companies we track, by market value.

The company is among the few in the real estate market with a strong and diverse presence across segments.
In the report:
55out of 100
Equitytale Health Score
Mixed

Healthier than 55% of listed companies we score, on all six measures of filed financials. Each measure is ranked against the 1,201–2,858 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
46

At close. Not part of the score.

Profitability & returns55

How much profit it earns on the money it employs

Balance sheet27

How much it owes, and whether earnings cover the interest

Cash quality50

Whether reported profit actually arrives as cash

Growth & consistency79

Whether sales and profit have grown, and how steadily

Valuation42

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 18% net margin
Profit up 34% vs last year
Promoters hold 41%
No promoter shares pledged
Watch-outs
! Sales down 13% vs last year
! Operating cash flow is negative

What if I invest in BRIGADE?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹621 -0.95%
latest close · 2026-09-17
1-year return
+170.4%
52-wk low ₹22452-wk high ₹735
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio25.3Average
LowAverageHigh
P/B ratio2.97Moderate
Below bookModerateHigh
EV / EBITDA13.3Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity11.8%Fair
WeakFairStrong ▸15%
Return on capital11.9%Fair
WeakFairStrong
Net margin18.0%Strong
ThinDecentStrong
EBITDA margin41.9%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.81Moderate
LowModerateHigh ▸1
Interest cover3.6×Okay
RiskyOkayStrong ▸5×
Current ratio1.24Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹20,251 cr
Book value
₹209
EPS
₹6.14
latest quarter
Net debt
₹4,623 cr
owes more than its cash
Enterprise value
₹24,875 cr
EBITDA
₹1,872 cr
annualised
EBIT
₹1,579 cr
annualised
Operating margin
35.4%
Return on assets
3.1%
Earnings yield
3.96%
P/S
4.54
Sales / share
₹136.8
Tax rate
23.8%
Face value
₹10
Shares
32.6 cr
Working capital
₹3,134 cr
Current assets
₹16,114 cr
Current liabilities
₹12,980 cr
Delivery %
34.3%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹192₹232, midpoint ₹212

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,116 cr
Other Income₹64 cr
Total Income₹1,179 cr
Cost of Materials₹155 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-200 cr
Employee Benefit Expense₹135 cr
Finance Costs₹109 cr
Depreciation & Amortisation₹73 cr
Other Expenses₹664 cr
Total Expenses₹937 cr
Exceptional Items₹43 cr
Profit before Tax₹286 cr
Tax Expense₹68 cr
Share of JV / Associates₹-72 L
Net Profit₹217 cr
Net margin on total income18.4%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹135 cr11.1%
Finance costs₹109 cr8.9%
Depreciation & amortisation₹73 cr6.0%
Other expenses₹619 cr50.7%
Tax expense₹68 cr5.6%
Profit for the period₹217 cr17.8%
Total income ₹1,179 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,575 cr1,458 cr1,116 cr
Total income1,623 cr1,523 cr1,179 cr
Expenses1,334 cr1,285 cr937 cr
Profit before tax270 cr244 cr286 cr
Tax64 cr54 cr68 cr
Net profit (owners' share)187 cr145 cr200 cr
Net margin (owners' share, on revenue)11.8%10.0%18.0%
EPS (₹)7.635.956.14
YoY (latest quarter): total income -11.5% · net profit +33.7%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹26,253 cr
Shareholder equity
₹6,820 cr
parent shareholders
Total debt
₹6,110 cr
Cash
₹1,486 cr
Cash flow · H1 FY26
Operating
₹-185 cr
Investing
₹-978 cr
Financing
₹461 cr
Peer comparison
Residential, Commercial Projects · by market value
CompanyPriceMarket capP/E
DLF Limited₹640₹1.58 L cr49.8
Lodha Developers Limited₹1,103₹1.10 L cr20.1
The Phoenix Mills Limited₹1,872₹66,957 cr56.4
Oberoi Realty Limited₹1,741₹63,292 cr29.1
Prestige Estates Projects Limited₹1,440₹62,025 cr65.7
Godrej Properties Limited₹1,678₹50,551 cr36.1
Anant Raj Limited₹597₹21,482 cr35.9
Brigade Enterprises Limitedthis company₹621₹20,251 cr25.3
Horizon Industrial Parks Limited₹52₹12,779 cr
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.32%
trailing 12 months
Dividend / share (TTM)
₹2
Last dividend
₹2
ex 5 Aug 2026
ActionDetailEx-date
Dividend₹2 / share5 Aug 2026
Bonus issue3:117 Jun 2026
Dividend₹2.5 / share13 Aug 2025
Dividend₹2 / share30 Jul 2024
Dividend₹2 / share31 Jul 2023
Dividend₹1.5 / share25 Jul 2022
Who owns it · 2026-06-30
No pledge
Promoter
41.1%
FII / Foreign
15.6%
DII / Domestic
25.5%
Retail / others
17.8%
Promoter stake down 2.6% over the last 12 quarters.
Smart-money activity
Insider trades
SoldSMARAJIT MISHRA · Employees/Designated Employees3,000 · ₹12.4 L30 Sep 21
SoldJAYAPRAKASAN K R · Employees/Designated Employees15,000 · ₹60.5 L29 Sep 21
SoldM R GURUMURTHY · Promoter Group17,237 · ₹68.6 L29 Sep 21
Bulk / block deals
short · NSE103 Sep 26
short · NSE110 Aug 26
short · NSE610 Jul 26
Stake changes
SoldAxis Mutual Fund (through Schemes of Axis Mutual Fund)→ 2.99% · 84,70027 Jan 26
BoughtAxis Regular Saver Fund Axis Equity Hybrid Fund Axis Multicap Fund Axis Childrens Gift Fund Axis Flexi Cap Fund Axis Small Cap Fund Schemes of Axis Mutual Fund→ 5.01% · 4.50 L22 Dec 21
SoldICICI Prudential Mutual Fund→ 2.98% · 2.00 L23 Sep 21
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 13 Aug 2026
See the official result
1
Adoption of Financial Statements (Standalone & consolidated) of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
17.09 cr votes for, 114 against · 0% of mutual funds and other big investors said no
2
Declaration of Final Dividend of Rs. 2.00/- per equity share (Rupees two only) for the financial year 2025-26:
Backed by 100% of shareholders other than promotersneeded 50%
17.11 cr votes for, 114 against · 0% of mutual funds and other big investors said no
3
Re-appointment of Mr. Pradyumna Krishna Kumar (DIN: 07870840) as a Director liable to retire by rotation
Backed by 90% of shareholders other than promotersneeded 50%
15.43 cr votes for, 1.67 cr against · 13% of mutual funds and other big investors said no
4
Re-appointment of Ms. Pavitra Shankar (DIN: 08133119) as a Director liable to retire by rotation
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
17.07 cr votes for, 3.57 L against · 0% of mutual funds and other big investors said no
9
Approval to grant stock options to the Employees of the Company’s subsidiaries/ associate companies/Joint Ventures under the ‘Brigade Employee Stock Option Plan 2026
⚑ Passed only because promoters voted yes
Backed by 67% of shareholders other than promotersneeded 75%
11.41 cr votes for, 5.70 cr against · 44% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 11 named members
owning 41.1% between them · as of 2026-06-30
MYSORE RAMACHANDRASETTY JAISHANKAR14.13%
GITHA SHANKAR11.47%
NIRUPA SHANKAR6.57%
MYSORE HOLDINGS PRIVATE LIMITED2.57%
MYSORE RAMACHANDRA SETTY KRISHNAKUMAR2.42%
M R SHIVRAM (HUF)1.24%
M R SHIVRAM1.13%
PAVITRA SHANKAR0.85%
Business done with them
FY2025 · 7 of the group
The company paid ₹36 cr to companies in the promoter group last year — about 0.7% of its ₹5,074 cr revenue and received ₹37 L back from them.
NIRUPA SHANKAR
Bought property or assets from them · Revenue from operation, Dividend paid, ROU asset acquired
also owns 6.57% of the company
₹9 cr
company paid
PAVITRA SHANKAR
Bought property or assets from them · ROU asset acquired, Security deposit paid, Interest on lease liability, Dividend paid
also owns 0.85% of the company
₹9 cr
company paid
NIRUPA SHANKAR
Other payments to them · Revenue from operation, Dividend paid, ROU asset acquired
also owns 6.57% of the company
₹6 cr
company paid
GITHA SHANKAR
Other payments to them · Revenue from operation, Dividend paid
also owns 11.47% of the company
₹6 cr
company paid
PAVITRA SHANKAR
Other payments to them · ROU asset acquired, Security deposit paid, Interest on lease liability, Dividend paid
also owns 0.85% of the company
₹3 cr
company paid
MYSORE HOLDINGS PRIVATE LIMITED
Other payments to them · Revenue from operation, Purchase of services Dividend paid
also owns 2.57% of the company
₹1 cr
company paid
M R Shivram (HUF)
Other payments to them · Dividend paid
also owns 1.24% of the company
₹61 L
company paid
M R Shivram
Other payments to them · Dividend paid
also owns 1.13% of the company
₹55 L
company paid
MYSORE HOLDINGS PRIVATE LIMITED
Paid them for services · Revenue from operation, Purchase of services Dividend paid
also owns 2.57% of the company
₹44 L
company paid
MYSORE HOLDINGS PRIVATE LIMITED
Provided services to them · Revenue from operation, Purchase of services Dividend paid
also owns 2.57% of the company
₹35 L
company received
A R Rukmini
Other payments to them · Dividend paid
also owns 0.15% of the company
₹7 L
company paid
NIRUPA SHANKAR
Provided services to them · Revenue from operation, Dividend paid, ROU asset acquired
also owns 6.57% of the company
₹1 L
company received
GITHA SHANKAR
Provided services to them · Revenue from operation, Dividend paid
also owns 11.47% of the company
₹1 L
company received

The company also transacted with 20 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹1,500 cr raised in Sep 2024 by selling shares to large investors

As of Jun 2025, the company says it has spent 100% of what it set aside. CARE Ratings Limited watches the spending on the exchange’s behalf.

Repayment / pre-payment, in full or in part, of certain outstanding borrowings availed by the Company and/or some of the Subsidiaries
100%
₹448 cr of ₹448 cr
Part funding the costs for acquisition of land and other costs for entering into joint development agreements or joint venture agreements and obtaining the government and statutory approvals and payment of statutory taxes for such land by the Company and Subsidiaries
100%
₹677 cr of ₹677 cr
General Corporate Purposes
100%
₹343 cr of ₹343 cr
Issue expenses
100%
₹32 cr of ₹32 cr
Spent by quarter: 71%100% (to Jun 2025)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.