During Thursday’s trading session, the shares of one of India’s leading property developers are in focus, after the company announced launching a project in Hyderabad with a revenue potential of Rs. 3,300 crores.
With a market capitalisation of Rs. 29,199 crores, the shares of Brigade Enterprises Limited surged around 0.4 percent to hit an intraday high at Rs. 1,221.95 on BSE, as against its previous closing price of Rs. 1,127.4.
What’s the News
Brigade Enterprises Limited, as per its latest regulatory filings with the stock exchanges, has announced the launch of a project in Hyderabad, expected to generate revenue of Rs. 3,300 crores, and will be one of the tallest buildings in the city.
The company announced the launch of Brigade Gateway at Neopolis, Kokapet, Hyderabad, a mixed-use development spanning ~10 acres. Brigade Gateway is set to become Hyderabad’s most integrated lifestyle mixed-use development, including a World Trade Center, Brigade Residences, a 300+ key Intercontinental Hotel, and a destination lifestyle mall, Brigade’s Orion Mall.
The commercial tower, standing at 212 meters, will feature Orion Mall on the first seven floors, the World Trade Center occupying 22 floors, InterContinental across 12 floors, and two floors dedicated to serviced residences.
Previous News
3rd January: Brigade Enterprises signed a definitive agreement for a prime land parcel located on Whitefield-Hoskote Road, Bengaluru, for developing a residential project spanning about 20 acres.
The project will have a total saleable area of ~2.5 million sqft with a Gross Development Value (GDV) of about Rs. 2,700 crore and a total land cost of about Rs. 630 crore through its subsidiary Ananthay Properties Private Limited.
2nd January: Mysore Projects Private Limited, the company’s material wholly-owned subsidiary, and Brigade Tetrarch Private Limited, another wholly owned subsidiary, have together invested by way of allotment of equity shares of 51 percent in Ananthay Properties Private Limited.
Mysore Projects Private Limited acquired a 49 percent stake and Brigade Tetrarch Private Limited has acquired a 2 percent stake in Ananthay Together, they jointly hold a 51 percent equity stake in Ananthay Properties.
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Financials
Brigade Enterprises reported a decline in revenue from operations, experiencing a year-on-year decrease of nearly 21.6 percent, falling from Rs. 1,367 crores in Q2 FY24 to Rs. 1,072 crores in Q2 FY25.
In contrast, during the same period, the company’s net profit increased from Rs. 112 crores to Rs. 115 crores, representing a marginal growth of around 2.7 percent YoY.
Key Financial Ratios
In terms of key financial metrics, Brigade Enterprises has a Return on Equity (RoE) of 11.7 percent and a return on capital employed (RoCE) of 12.7 percent. Additionally, the company’s debt-to-equity ratio stands at 1.05.
Stock Performance
The stock has delivered positive returns of nearly 27 percent in one year, while around 8 percent of negative returns in the last six months. Likewise, the shares of Brigade Enterprises have given negative returns of about 6.5 percent in the last one month.
About the Company
Established in 1986, Brigade Enterprises Limited, one of India’s leading property developers, is involved in the business of real estate development, leasing and related services.
Written by Shivani Singh
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