Brigade Enterprises Ltd

Brigade Enterprises Ltd

₹ 980 -1.31%
07 Nov - close price
About

Brigade Enterprises Ltd was established in 1986. It is a real estate developer in South India, based in Bengaluru, and expanding its area of operations in other parts of India. It has completed over 250 buildings aggregating to over 70 mn. sqft of developed space in residential, offices, retail, and hospitality sectors across Bengaluru and Mysuru, Chennai, Ahmedabad, Hyderabad, Kochi [1] [2] [3]

Key Points

Market Position
The company is among the top 10 listed developers in India, by market capitalisation. Since its inception, it has served 40,000+ customers and completed 280+ buildings, totaling 86+ Mn Sq ft. [1] [2]

  • Market Cap 23,961 Cr.
  • Current Price 980
  • High / Low 1,340 / 813
  • Stock P/E 59.3
  • Book Value 252
  • Dividend Yield 0.26 %
  • ROCE 9.09 %
  • ROE 8.80 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 3.89 times its book value
  • The company has delivered a poor sales growth of 2.87% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 8.61% over last 3 years.
  • Earnings include an other income of Rs.272 Cr.
  • Dividend payout has been low at 13.3% of profits over last 3 years
  • Debtor days have increased from 50.1 to 68.0 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
585 514 485 316 438 414 857 534 422 543 619 436 661
456 407 395 257 348 326 641 423 349 436 474 389 630
Operating Profit 129 107 91 59 90 87 216 111 72 107 145 47 31
OPM % 22% 21% 19% 19% 21% 21% 25% 21% 17% 20% 23% 11% 5%
46 44 95 43 58 37 61 44 94 64 65 60 82
Interest 33 35 34 32 32 38 41 48 34 28 20 21 25
Depreciation 19 20 21 18 19 22 20 19 20 21 20 19 21
Profit before tax 123 95 130 53 97 64 216 88 113 122 169 68 67
Tax % 26% 27% 16% 27% 26% 26% 26% 25% 20% 25% -23% 19% 25%
91 70 109 39 72 47 160 66 91 91 208 55 50
EPS in Rs 3.96 3.03 4.74 1.67 3.12 2.04 6.94 2.84 3.71 3.73 8.51 2.25 2.05
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
899 988 1,563 1,484 1,249 1,798 1,837 1,524 2,161 2,209 2,025 2,117 2,258
614 693 1,192 1,081 848 1,316 1,347 1,118 1,640 1,740 1,572 1,682 1,928
Operating Profit 285 295 371 402 401 482 491 406 520 469 453 435 330
OPM % 32% 30% 24% 27% 32% 27% 27% 27% 24% 21% 22% 21% 15%
17 20 90 86 103 123 130 56 140 247 199 267 272
Interest 102 115 150 180 183 178 200 198 143 134 144 130 94
Depreciation 77 92 98 76 69 68 76 87 84 80 78 80 82
Profit before tax 123 109 212 233 252 359 344 178 433 502 429 492 426
Tax % 27% 36% 31% 30% 28% 35% 24% 19% 29% 23% 26% 8%
90 70 147 164 181 234 261 145 309 385 318 455 404
EPS in Rs 5.33 4.14 8.68 9.62 8.84 11.46 12.76 6.85 13.41 16.69 13.77 18.63 16.54
Dividend Payout % 25% 32% 15% 17% 15% 12% 8% 18% 11% 12% 15% 13%
Compounded Sales Growth
10 Years: 8%
5 Years: 3%
3 Years: -1%
TTM: 1%
Compounded Profit Growth
10 Years: 21%
5 Years: 11%
3 Years: 15%
TTM: 11%
Stock Price CAGR
10 Years: 25%
5 Years: 38%
3 Years: 24%
1 Year: -13%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 9%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 112 113 113 114 136 136 204 211 230 231 231 244 244
Reserves 1,160 1,204 1,414 1,581 2,192 2,171 2,339 2,566 3,334 3,698 3,989 5,871 5,922
843 1,241 1,716 1,648 1,959 1,907 2,035 1,876 1,631 1,425 1,746 1,588 1,986
838 1,005 1,587 1,379 1,469 3,246 3,087 3,456 3,599 3,788 4,582 6,188 7,229
Total Liabilities 2,953 3,563 4,829 4,721 5,756 7,460 7,666 8,109 8,795 9,142 10,548 13,891 15,381
1,162 1,087 224 975 1,015 1,280 1,405 1,385 1,410 1,365 1,340 1,345 3,064
CWIP 188 377 435 250 432 179 75 4 3 16 670 1,453 0
Investments 133 192 1,631 827 1,353 1,498 1,793 2,051 2,595 2,347 2,544 2,421 2,272
1,470 1,906 2,540 2,669 2,957 4,503 4,393 4,669 4,786 5,413 5,994 8,671 10,045
Total Assets 2,953 3,563 4,829 4,721 5,756 7,460 7,666 8,109 8,795 9,142 10,548 13,891 15,381

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
449 -16 213 414 69 230 292 419 534 283 -25 332
-159 -240 -473 -342 -638 103 -194 -151 -583 72 -120 -413
-288 251 273 -92 557 -261 -58 -282 123 -360 151 1,096
Net Cash Flow 2 -5 13 -19 -12 72 40 -14 74 -5 6 1,015

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 14 6 11 14 43 73 56 78 47 42 41 68
Inventory Days 3,942 1,946 2,203 5,741 2,269 2,098
Days Payable 1,005 397 518 1,569 284 212
Cash Conversion Cycle 2,950 6 1,560 1,698 4,216 2,058 1,943 78 47 42 41 68
Working Capital Days -156 -165 -52 -47 6 73 20 30 14 48 46 -15
ROCE % 10% 10% 12% 13% 11% 12% 13% 9% 11% 11% 10% 9%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
43.80% 43.79% 43.78% 43.77% 43.75% 43.73% 43.72% 41.37% 41.37% 41.14% 41.13% 41.13%
14.24% 14.31% 13.67% 13.40% 13.73% 14.86% 16.17% 18.47% 20.23% 20.21% 19.33% 18.67%
24.55% 24.62% 25.45% 25.41% 25.01% 23.84% 22.86% 24.02% 22.91% 22.87% 23.44% 23.28%
17.39% 17.27% 17.09% 17.44% 17.50% 17.58% 17.26% 16.14% 15.50% 15.77% 16.09% 16.95%
No. of Shareholders 64,27062,61160,92063,53568,71276,97786,13086,8031,12,7601,28,0081,32,6901,74,585

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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