Brigade Enterprises Limited (NSE: BRIGADE) shares closed at INR 738.40 on February 2, 2026, recording a 0.14% intraday decline on the National Stock Exchange. The stock reached a session high of INR 745.40 and a session low of INR 727.00. The company’s market capitalization stands at INR 180.60 billion.
Latest Quarterly Results
For the third quarter of the 2026 fiscal year (Q3 FY26) ended December 31, 2025, Brigade Enterprises reported consolidated revenue of INR 16.23 billion, a 6% increase compared to INR 15.30 billion in the same period of the prior year. Consolidated profit after tax (PAT) for the quarter was INR 2.06 billion, representing a 13% decline from INR 2.36 billion in Q3 FY25. Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at INR 4.59 billion, a 4% decrease year-over-year.
Segment Highlights:
- Real Estate: Revenue was INR 11.33 billion, reflecting 3% year-over-year growth. Pre-sales volume reached 1.33 million square feet with a value of INR 17.50 billion.
- Leasing: Revenue grew 16% to INR 3.25 billion. Portfolio occupancy was reported at 93% across 8.61 million square feet.
- Hospitality: Revenue increased 12% to INR 1.65 billion. The average room rate (ARR) rose 17% to INR 7,852, while portfolio occupancy was 76%.
Financial Trends
Full-Year Results Context
For the nine-month period ended December 31, 2025 (9M FY26), consolidated revenue rose 16% to INR 43.86 billion from INR 37.81 billion in the previous year. Profit after tax for the same period increased 24% to INR 5.34 billion. EBITDA for the nine-month period grew 4% to INR 12.09 billion, indicating a period of operational expansion and increased earnings.
Business & Operations Update
Brigade Enterprises launched Brigade Gateway, Hyderabad Phase 2, during the quarter, contributing 1.19 million square feet to its residential portfolio. The company reported land acquisitions in Bengaluru, Chennai, and Hyderabad. Management confirmed the appointment of a new Chief Financial Officer and designated Deloitte as the internal auditor. The company’s NetZero-Carbon Target has been validated by the Science Based Target Initiatives (SBTi).
M&A or Strategic Moves
No material mergers or acquisitions were announced during the quarter. The company continues to utilize joint development agreements for its residential segment, maintaining a project pipeline of approximately 16.66 million square feet.
Equity Analyst Commentary
Institutional research highlights the execution of the company’s 12 million square foot launch pipeline over the next four quarters. Analysts noted that while the leasing and hospitality segments showed double-digit revenue growth, consolidated EBITDA margins contracted to 28% from 31% in the corresponding quarter of the previous year.
Guidance & Outlook
The company is monitoring the launch of upcoming residential and commercial projects totaling 16.66 million square feet. Regulatory context regarding the implementation of new labour codes and their potential impact on exceptional items remains a factor for upcoming reporting cycles.
Performance Summary
Brigade Enterprises shares closed flat at INR 738.40. Quarterly revenue increased 6% to INR 16.23 billion, while net profit declined 13% to INR 2.06 billion. Leasing and hospitality segments recorded revenue growth of 16% and 12%, respectively.