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Brigade Enterprises Limited
(BRIGADE)
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Rating:50Neutral
Price Target:
₹499.00
▼(-44.68% Downside)
Action:Reiterated
Date:06/17/26
The score is held back primarily by weak cash flow conversion in 2026 (negative operating and deeply negative free cash flow) alongside meaningful leverage, which raises funding risk for a cyclical developer. Technicals are also bearish with the stock below all major moving averages and a negative MACD. These are partially offset by strong multi-year revenue/earnings expansion, but valuation remains only middling given the higher P/E and low dividend yield.
Positive Factors
Multi-year revenue & earnings growth
Sustained revenue and earnings expansion over multiple years signals consistent project execution and market demand for Brigade’s offerings. This durable top-line momentum supports backlog replenishment, economies of scale in project delivery, and strategic reinvestment capacity for new launches and asset development.
Negative Factors
Negative operating & free cash flow in 2026
The reversal to negative operating and deeply negative free cash flow in 2026 highlights weak cash conversion of profits, likely from working-capital build or project investment timing. Persistent cash deficits raise the need for external funding, increasing refinancing and execution risk across a cyclical real estate cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue & earnings growth
Sustained revenue and earnings expansion over multiple years signals consistent project execution and market demand for Brigade’s offerings. This durable top-line momentum supports backlog replenishment, economies of scale in project delivery, and strategic reinvestment capacity for new launches and asset development.
Read all positive factors
Brigade Enterprises Limited (BRIGADE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹193.12B
Dividend Yield0.34%
Average Volume (3M)16.50K
Price to Earnings (P/E)22.4
Beta (1Y)1.40
Revenue Growth4.81%
EPS Growth-7.86%
CountryIN
Employees859
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Development
Share Statistics
EPS (TTM)26.36
Shares Outstanding326,162,380
10 Day Avg. Volume13,596
30 Day Avg. Volume16,500
Financial Highlights & Ratios
PEG Ratio-2.24
Price to Book (P/B)1.75
Price to Sales (P/S)2.09
P/FCF Ratio-5.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹780.00Price Target Upside-13.52% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)27.28
Revenue Forecast (FY)₹69.84B
Brigade Enterprises Limited Business Overview & Revenue Model
Company Description
Brigade Enterprises Limited is an Indian firm primarily engaged in property development, asset leasing, and associated services. The company's business activities are categorized into three main divisions: Real Estate, Hospitality, and Leasing. Th...
How the Company Makes Money
Brigade Enterprises primarily makes money through a combination of (1) real estate development income and (2) recurring income from operating/owning commercial assets. Development income is generated by developing residential and commercial projec...
Brigade Enterprises Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
38
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 56.97B | 50.74B | 48.97B | 34.45B | 29.99B |
| Gross Profit | 20.07B | 26.25B | 20.69B | 15.95B | 13.61B |
| EBITDA | 16.26B | 14.18B | 11.96B | 8.56B | 7.64B |
| Net Income | 6.44B | 6.86B | 4.52B | 2.91B | 827.70M |
Balance Sheet | |||||
| Total Assets | 262.53B | 220.90B | 178.86B | 163.77B | 151.58B |
| Cash, Cash Equivalents and Short-Term Investments | 27.35B | 32.98B | 18.95B | 15.49B | 14.21B |
| Total Debt | 63.44B | 54.64B | 54.70B | 46.34B | 49.06B |
| Total Liabilities | 187.29B | 161.75B | 143.28B | 132.34B | 122.80B |
| Stockholders Equity | 68.20B | 56.38B | 36.49B | 32.45B | 29.10B |
Cash Flow | |||||
| Free Cash Flow | -21.74B | 3.56B | 654.30M | 6.44B | 8.24B |
| Operating Cash Flow | -4.35B | 9.95B | 3.34B | 9.66B | 10.32B |
| Investing Cash Flow | -16.01B | -5.90B | -3.79B | -2.71B | -9.71B |
| Financing Cash Flow | 16.65B | 8.60B | 2.41B | -6.95B | 333.70M |
Brigade Enterprises Limited Technical Analysis
Positive
901.95
Price Trends
542.37
Positive
537.68
Positive
582.53
Positive
Market Momentum
15.30
Negative
60.38
Neutral
49.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BRIGADE, the sentiment is Positive. The current price of 901.95 is above the 20-day moving average (MA) of 569.79, above the 50-day MA of 542.37, and above the 200-day MA of 582.53, indicating a bullish trend. The MACD of 15.30 indicates Negative momentum. The RSI at 60.38 is Neutral, neither overbought nor oversold. The STOCH value of 49.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BRIGADE.
Brigade Enterprises Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹1.64T | 37.03 | ― | 1.24% | -27.71% | -0.86% | |
70 Outperform | ₹1.24T | 30.11 | ― | 0.37% | 26.04% | 38.93% | |
69 Neutral | ₹670.19B | 25.53 | ― | 0.44% | 29.10% | 27.52% | |
62 Neutral | ₹599.86B | 37.46 | ― | ― | 18.11% | 5.18% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹142.11B | 61.60 | ― | 0.44% | 32.15% | 121.84% | |
50 Neutral | ₹193.12B | 22.43 | ― | 0.28% | 4.81% | -7.86% |
* General Sector Average
IN:BRIGADE
Brigade Enterprises Limited
592.10
-126.88
-17.65%
IN:DLF
DLF Limited
663.00
-96.42
-12.70%
IN:GODREJPROP
Godrej Properties Limited
1,991.40
-1.81
-0.09%
IN:LODHA
Macrotech Developers Ltd.
1,240.00
1.55
0.13%
IN:OBEROIRLTY
Oberoi Realty Limited
1,843.20
205.86
12.57%
IN:SOBHA
Sobha Limited
1,328.70
-159.35
-10.71%
Brigade Enterprises Limited Corporate Events
Brigade Group Buys Kanakapura Road Plot for Rs. 400 Crore Premium Housing Project
Jul 29, 2026
Brigade Group has acquired a 2-acre land parcel on Kanakapura Road in South Bengaluru for the development of a premium residential project, with an estimated gross development value of about Rs. 400 crore. Located on one of the city’s most s...
Brigade Enterprises Sets AGM Agenda, Seeks Higher Borrowing Limit
Jul 21, 2026
Brigade Enterprises Limited has convened its thirty-first Annual General Meeting for August 13, 2026 in Bengaluru, as part of its integrated annual reporting and statutory compliance. The meeting will be accompanied by a remote e-voting window fro...
Brigade Enterprises Files FY 2025-26 Sustainability Report with Stock Exchanges
Jul 21, 2026
Brigade Enterprises Limited has submitted its Business Responsibility and Sustainability Report for the financial year 2025-26 to the Indian stock exchanges, integrating it into the company’s annual reporting framework. The report is also ma...
Brigade Enterprises Sets August AGM, Pushes Digital Access to Annual Report
Jul 21, 2026
Brigade Enterprises Limited has notified exchanges and shareholders that its Thirty First Annual General Meeting will be held on August 13, 2026 in Bengaluru, with the Integrated Annual Report for the 2025-26 financial year now available through w...
Brigade Enterprises Announces Resignation of President–Construction
Jul 10, 2026
Brigade Enterprises Limited has announced a senior management change, confirming that Saroj Kumar Pati, President – Construction, has resigned from his role due to family obligations. The management has accepted his resignation, effective fr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.