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Brigade Enterprises Margin Trend — Quarter by Quarter

Brigade Enterprises's EBITDA margin moved from 26.0% in Q2 FY26 to 25.0% in Q4 FY26 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY2625.0%—
Q3 FY2628.0%—
Q2 FY2626.0%—

What management said about ebitda margin

G

Q3 FY26 · Real estate segment margins to improve to ~20% from Q1/Q2 FY27

Management expects real estate EBITDA margins to rise to around 20% from the current ~15% as newer, higher-margin projects are recognized.

G

Q2 FY26 · Residential EBITDA margin expected to normalize next financial year

Current residential EBITDA margin of ~12% is below normal run rate due to project mix and one-time costs; management expects margins to revert to historical levels in FY27.

G

Q1 FY26 · Embedded EBITDA margin >30% for new launches

New project launches in FY26 are expected to have embedded EBITDA margins upwards of 30%.