Brigade Enterprises is a South India-focused real estate developer with residential, commercial leasing and hospitality businesses, reporting into a quarter when its launch engine restarted after a slow Q1. The print will speak to whether the FY27 presales target of Rs. 9,000 crores stays on track after the Brigade Barcelona Hyderabad launch, and whether the 21% real estate margin seen in Q1 FY27 holds.
| Results date | October 29, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 1,115.55 Cr |
| Previous quarter PAT | Rs. 216.94 Cr |
| Previous quarter EBITDA margin | 36% |
| Net debt (latest quarter) | Rs. 2,218 crores |
| Market cap | Rs. 17,865.96 Cr |
| CMP | Rs. 547.6 |
The board will meet on October 29, 2026, to approve the Q2 & H1 FY27 (ended September 30, 2026) unaudited standalone and consolidated results. The trading window remains closed from October 1 to October 31, 2026.
The earnings call is scheduled for October 30, 2026, at 2:30 PM IST. An audio recording of the previous quarter's call (held August 14, 2026) is available on the company website.
The quarter's central test is whether Brigade's launch engine restarted on schedule: Q1 net sales of Rs. 1,061 crores were down 5% YoY with no major launches, and the 2.36 mn sqft of planned Q2 launches — headlined by Brigade Barcelona in Hyderabad with over Rs. 2,700 Cr of revenue potential — depend on Bengaluru approval timelines that management has repeatedly flagged. Management reaffirmed the FY27 presales guidance of Rs. 9,000 crores as "on track" at Q1, with Q1 net sales representing about 11.8% of the target, so Q2 presales against the Rs. 2,034 Cr Q2 FY26 comp will show how much of the H2-weighted plan is intact. Margin direction matters as much as volume: Q1 FY27 real estate EBITDA margin jumped to 21% from 12% a year ago on recognition of better-margin projects, against a guided ~30% residential EBITDA on POCM basis, and average realization hit a record Rs. 14,256/sft (+21% YoY). The annuity businesses provide a steady base — leasing ran at a 70% EBITDA margin with 88% occupancy, and hospitality posted 9% revenue growth with ARR of Rs. 7,241 despite West Asia disruption — while the pending GST show cause notice, the Rs. 92.22 Cr property tax demand and the SEIAA revocation of Morgan Heights' clearance remain the litigation overhangs management says it expects no material adverse impact from. The call will also be watched for deployment of the approved Rs. 1,500 Cr NCD placement and early detail on the ~Rs. 40,000 Cr three-year investment roadmap announced on October 8.
FY27 presales target of Rs. 9,000 crores: Q1 net sales of Rs. 1,061 crores equal about 11.8% of the full-year target; management says "on track".
Q2 FY27 launch delivery of 2.36 mn sqft
Residential margin sustainability
Morgan Heights relaunch and litigation updates
Leasing momentum and balance sheet deployment
Consolidated revenue from operations fell 12.92% YoY to Rs. 1,115.55 Cr, while PBT rose 47% YoY to Rs. 285 Cr. The profit growth includes a Rs. 42.88 Cr exceptional gain from Bain Capital's investment in Vibrancy Real Estate; ex-exceptional PBT was Rs. 241.99 Cr.
Management reaffirmed the FY27 pre-sales guidance of Rs. 9,000 crores as "on track" at Q1 FY27, with Q1 net sales of Rs. 1,061 crores representing about 11.8% of the target. The company has planned 2.36 mn sqft of launches in Q2 FY27 and 7 mn sqft in H2 FY27.
Leasing turnover grew 9% YoY to Rs. 328 crores with EBITDA of Rs. 230 crores at a 70% margin and 88% occupancy. Hospitality revenue rose 9% with ADR up 7% and occupancy improving from 74.5% to 76%, despite West Asia disruption.
On October 8, 2026, the company announced a ~Rs. 40,000 Cr investment outlay over three years with a 40 Mn sqft development pipeline and a Net Zero target by 2045. It includes World Trade Center licences for Devanahalli, Whitefield and Coimbatore, Orion brand expansion to Chennai and Hyderabad, and an "Earth Fund" launch.