Approval delays impacting launch pipeline
Residential launches have been delayed by 3-4 months due to changes in Bangalore's approval process, causing FY26 pre-sales to be flat. Further delays could push launches into FY27.
BRIGADE / Q3-FY26 / risks
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Brigade Enterprises · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Slow absorption of high-ticket projects
As ticket sizes increase (85% of sales above ₹1.5 crore), conversion times are lengthening, which could slow sales velocity and inventory turnover.
Brigade Morgan Heights regulatory hurdle
Sales in the Chennai project are stalled due to a court case affecting over 1 lakh properties. A hearing is expected in February 2026, but an adverse verdict could delay sales further.
Operating cash flow decline
9M FY26 operating cash flow dropped to ~₹30 crore from ₹1,550 crore in 9M FY25, due to higher construction spends and elevated sales & marketing costs despite limited launches.