Brigade Enterprises (BRGD IN) – Q4FY26 Result Update – Pre-sales to Improve – BUY
Published on 08 May 2026
Brigade Enterprises Ltd (BRGD) reported moderate pre-sales growth of 3% YoY, along with 3% YoY collection growth in Q4FY26. BRGD has delivered healthy pre-sales CAGR of 22% over FY23–26, led by new launches, entry into new markets, and premiumization. Further, annuity income saw 20% increase during the period. Supported by a healthy launch pipeline (~12msf) and strategic expansion into Chennai and Hyderabad, we expect pre-sales to clock 12-15% CAGR over FY26–28E. Further, given the strong OCF generation and comfortable balance sheet position, BRGD should be able to comfortably fund BD and capex. Maintain ‘BUY’ rating with TP of INR1,045/share.
