Brigade Enterprises Ltd.EBITDA Margin 36%, PAT +37%, Presales -5%

Brigade Enterprises reported Q1 FY27 consolidated revenue of ₹1,179 Cr and EBITDA of ₹425 Cr, a 36% margin against 28% a year ago, as real estate margins improved to 21% from 12%.

Profit after tax rose 37% to ₹217 Cr, including a ₹36.6 Cr exceptional gain. Presales were ₹1,061 Cr, down 5%, with no new launches, though realisation rose 21% to ₹14,256 per square foot. The environmental clearance for Brigade Morgan Heights was revoked, and the project has been removed from launch numbers while the matter is in the High Court. Management kept its FY27 presales guidance of ₹9,000 Cr, backed by a 12.36 million square foot residential launch pipeline over four quarters, of which about 9.36 million square feet is for the rest of FY27.

Commercial office revenue was ₹200 Cr at an 80% margin and 88% occupancy, and hotel profit rose 140% to ₹17 Cr. Leasing revenue is guided to compound at about 20% over the next five to six years. Net debt was ₹2,218 Cr.