Brigade Enterprises Ltd (BOM:532929)

Q1 2027 Brigade Enterprises Limited Earnings Call Transcript

Aug 14, 2026 / 09:00 AM GMT

Release Date Price: ₹592.1 (+0.41%)

Transcript

Key Points

Positve

Real estate EBITDA margin improved significantly to 21% from 12% year-over-year, driven by better-margin project revenue recognition.
Consolidated EBITDA margin expanded by 800 basis points to 36%, with PAT growing 37% year-over-year.
Strong launch pipeline of 16.4 million square feet (12.4 million residential) with a GDV of approximately Rs. 13,400 crores, supporting FY27 pre-sales guidance of Rs. 9,000 crores.
Commercial office portfolio maintained high occupancy at 88% with robust rent collections at 99%, and leasing demand remains broad-based across sectors.
Hospitality segment delivered strong growth with 9% RevPAR increase, 140% PAT growth, and successful rebranding of Kochi hotel expected to boost ADR by 15-20%.
Retail portfolio saw strong performance with 35% year-on-year sales growth and 11% footfall increase.
Healthy balance sheet with net debt-to-equity ratio of 0.26 and average cost of debt at 7.61%.
Collections grew 7% year-over-year to Rs. 1,856 crores, with operating cash flow up 10%.

Negative

Q1 FY27 net sales declined 5% year-over-year due to no new launches, and residential sales were down 6% pan-India.
Brigade Morgan Heights relaunch was impacted by revocation of environment clearance, leading to refunds to homebuyers and removal from launch pipeline.
Commercial leasing at WTC Bangalore is slower than expected, with large RFPs postponed due to the West Asia crisis, forcing smaller leases.
Hospitality F&B revenues were impacted by softer MICE activity and event postponements due to geopolitical disruptions.
Launch pipeline is back-ended, with 7 million square feet of launches expected in H2 FY27, posing execution and approval risk.
The company faces ongoing litigation on the Kengeri land parcel, delaying its launch potential.
Q1 launches were lower than planned, with only 2.36 million square feet expected in Q2, indicating potential slippage risks.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BRIG.NS - Brigade Enterprises Limited
Q1 2027 Brigade Enterprises Limited Earnings Call
Aug 14, 2026 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and Gentlemen, Good day and welcome to Brigade Enterprises Limited Q1 FY27 Financial Results Conference Call.

As a reminder, all participant lines will be in the lesson-only mode and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing *0 on a touchstone phone.

Please note that this conference is being recorded.

I now hand the conference over to Ms. Pavitra Shankar, Managing Director of Brigade Enterprises Limited.

Thank you and over to you ma'am.

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