Brigade Enterprises (532929) Q1 25/26 earnings summary

Executive summary

• Q1 FY 2026 began with strong performance across all business verticals, with consolidated revenue of INR 1,333 crore, up 20% year-over-year, and PAT of INR 158 crore, up 95% year-over-year.

• Real estate pre-sales reached INR 1,118 crore, up 3% year-over-year, with a 24% increase in average realization to INR 11,782 per sq ft, driven by premium product sales.

• Hospitality revenue grew 19% year-over-year to INR 141 crore, with portfolio occupancy at 75% and ARR at INR 6,761.

• Major launches included Brigade Morgan Heights in Chennai, successful completion of the 18th Expo Brigade Showcase, and multiple project launches across South India.

• Unaudited consolidated and standalone financial results for the quarter ended 30 June 2025 were approved and reviewed without qualification by auditors.

Financial highlights

• Consolidated revenue for Q1 FY 2026 was INR 1,333 crore, up 20% year-over-year, with EBITDA of INR 375 crore and PAT of INR 158 crore.

• EBITDA margin stood at 28% for Q1 FY26, and PAT margin improved to 12% from 7% year-over-year.

• Total collections for Q1 FY 2026 were INR 1,728 crore, up 8% year-over-year.

• Basic EPS for the quarter was ₹6.13, up from ₹3.62 in the prior year quarter.

• Net cash flow from operating activities was INR 322 crore, down from INR 434 crore in Q1 FY25.

Outlook and guidance

• Launch pipeline of 13 million sq ft over the next four quarters, with INR 4,600 crore GDV already visible for Q2.

• Targeting 15%-20% sales growth for FY 2026, aiming for a 15% increase over last year’s INR 7,800 crore sales.

• Commercial launches planned at 2.5-3 million sq ft annually; hospitality to double hotel count to 18 in 4-5 years.

• Zero residential debt maintained for two years due to robust sales and collections.

• Focus remains on Bangalore, Chennai, and Hyderabad, with no immediate plans to enter new cities.