A mixed bag quarter; Residential segment muted, while Annuity fares well

Company
08 Aug 2024
5 Min read 
  • Brigade Enterprises reported 1QFY25 results with changes in estimates, target price, and rating.
  •  The company's sales, EBITDA, and PAT are expected to grow in FY25 and FY26.
  •  The residential segment experienced muted growth, while the annuity segment performed well.
  •  The company aims to launch 12.6msf of projects in FY25 and deliver 32% CAGR in pre-sales over FY24-26E.
  •  The management commentary highlighted new launches, leasing portfolio growth, and hospitality focus.
  •  The valuation and view suggest a potential upside of 32%, reiterating a BUY rating.
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