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Revenue
₹1,458 Cr
verified against source
Revenue YoY
11%
reported change
EBITDA
₹1,638 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Brigade Enterprises reported FY26 consolidated revenue of ₹5,999 crore (+11% YoY) and PAT of ₹725 crore (+7% YoY), with EBITDA margin steady at 28%. Residential pre-sales fell 5% to ₹7,424 crore due to approval delays, but Q4 saw a strong rebound with ₹2,521 crore in sales (+44% QoQ) driven by 4 msf of new launches. Management guided for FY27 pre-sales of ₹9,000 crore (+20% YoY) supported by a launch pipeline of 11.6 msf (GDV ₹11,900 crore). Commercial leasing remained stable with 1.1 msf leased in FY26, and the office portfolio is set to expand with 10 msf planned over FY27-28. Key risks include approval delays impacting launch timing and potential macro headwinds from geopolitical tensions.
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Guidance to track
- Management expects at least 20% growth over FY26 pre-sales of ₹7,424 crore, aiming for ₹9,000 crore.
- Planned launches include 4.5 msf in Bengaluru, 3 msf each in Chennai and Hyderabad.
- Capex for 10 msf commercial pipeline estimated at ₹6,000 crore over four years.
Risks flagged
- FY26 saw delays pushing launches to H2; similar risks persist for FY27 launches, especially in Chennai and Hyderabad.
- Analyst raised concern about vacancy; management expects to lease out over next few quarters but no single large tenant lined up.
- Management noted geopolitical developments led to cancellations and impacted foreign tourist arrivals in Q4.
Key quotes
- FY26 pre-sales was rupees 7,424 crores which is 5% lower than FY25. This was primarily on account of delays in obtaining approvals with many project launches pushed to the latter half of Q4 and some moving into FY27.
- If the current sentiment and market conditions hold up, our outlook is that demand on ground will support a pre-sales outlook of at least 20% growth on our FY26 numbers and aiming for 9,000 crores.
- Amazon has vacated their space. They had about 630,000 square ft that they vacated. We have leased a couple of floors. So we've leased close to 100,000 square ft of that.
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