BRIGADE / Q3-FY26 / claim-ledger

Audit the questions that mattered.

Brigade Enterprises · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ3-FY26 · 2026-02-14Back to quarter ↗

Questions audited

Answered directly

83%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Karan Karna · Ambit Capital

direct

Pricing environment and like-to-like price hikes in Bangalore and Chennai.

the market is still pretty healthy and demand is good. all of our projects that are being launched today are being launched with the expectation that we can still take price hikes of 5 to 7% year-over-year.

Karan Karna · Ambit Capital

partial

Reconciliation of launch guidance vs actual launches in 9 months.

that 16 million was actually including commercial as well. year to date we have launched 3 million sq ft in residential with a GDV of 4,800 crores. In Q4, our plan is to launch 4.3 million sq ft with a higher GDV of around 5,400 crores.

Karan Karna · Ambit Capital

direct

IRR on new business development deals in Hyderabad.

the IRRs that we look at are around 18%. I would love to say they're going to keep increasing but as customers are willing to pay more, land rates increase as well.

Adidel Chhatabad · ICA Securities

direct

Geographical split and key projects for Q4 launches worth 5400 cr.

in Q4 it is predominantly we have about 8 lakh sq ft in Chennai that would around 1,600 crores and 2.3 million sq ft or 2500 crores in GDV from Bangalore and about a little under a million sq ft from Hyderabad.

Adidel Chhatabad · ICA Securities

direct

Budgeted rental capex for FY26 and FY27.

in FY26 for the commercial division about 600 crores is what we expect to spend and the year after in FY27 about 800 crores.

Pra (from Access Capital) · Access Capital

direct

Contribution from Brigade Gateway launch in Q3 and launch status for Q4.

Brigade Gateway tower 2 launched in Q3 about 550 crores of GDV or pre-sales value. Out of the about 4.5 million sq ft we plan to launch in this quarter, one-third is already at the end of receiving RERA approval.

Gh Shari · Aendas Park

partial

Reason for decline in operating cash flow despite marginal collection growth.

on the sales and marketing we have supported the marketing effort substantially more because we have a much more high-end and premium segment portfolio this year which requires more branding.

Perves Kazi · Noama Group

direct

Ticket size split of upcoming launches and percentage in 2-3 cr vs above 3 cr.

80 to 85% of our current portfolio is in that 1.5 cr plus. It is equally distributed between 1.5 to 3 crores range and 3 cr plus. Going forward we're trying to maintain it within the 2 to 3 cr ticket size.

Perves Kazi · Noama Group

direct

Geographical split of Q3 sales.

for Q3 about 35% from Hyderabad, 15% from Chennai and the rest 50% from Bangalore.

Anmul Mal · SMC Private Well

direct

Reason for moderation in real estate margins and future margin outlook.

the margin in the real estate segment is hovering around 15%. It is primarily due to many older projects being recognized and because of India there is gross accounting which has no margin. From Q1 maybe Q2 we should start seeing higher margins closer to 20%.

Akash Gupta · Nura

direct

Reason for confidence in demand despite market concerns.

we have this confidence based on the kind of response to our marketing campaigns and walk-ins. We are able to achieve the pricing we have launched at and don't need to take any discounts.

Prolin Nandu · Edel Wise Public Alternatives

evasive

Feasibility of achieving 15% pre-sales growth target by FY27.

that seems like a pretty aggressive number considering where we are today. We will be looking at doing better than last year in FY26 numbers and beyond that we'll have to see.