Brigade Enterprises532929Earnings call transcript

Q2 FY27 call: presales guidance reiterated at INR9,000 crores, EBITDA margin at 38%

Brigade Enterprises shared the transcript of its Q2 FY27 earnings call held on October 30, 2026.

By ScoutQuest · Mon 2 Nov 2026, 7:03 PM IST · 2 min read

Consolidated revenue of INR1,250 crores with EBITDA of INR478 crores.
EBITDA margin improved to 38% from 26% in Q2 FY26, an improvement of 1,200 basis points, mainly from higher real estate margins.
Consolidated PAT stood at INR219 crores, up 29% year-on-year; PAT after minority interest was INR194 crores.
Collections for the quarter were INR1,633 crores; net cash flow from operating activities was INR246 crores.

Launched 2.4 million square feet in Q2 at an estimated GDV of approximately INR3,000 crores.
Net sales of INR 1,827 Cr on 1.32 million square feet, which is 72% higher by value and 78% higher by area than Q1.
Presales were 10% lower than Q2 FY26, which management attributed mostly to the timing of launches.
Average realisation was INR13,841 per square foot, a 29% year-on-year improvement, helped by pricing increases and a higher share of higher-end homes.
Segment revenue INR760 crores and EBITDA Rs. 178 crores, up 62% year-on-year; segment margin 24% versus 12% in Q2 FY26.
Inventory of INR9,800 crores on hand, plus 7 million square feet or INR7,600 crores of GDV planned for launch in the second half.

Added 0.27 million square feet of operational leasing space, taking the portfolio to 9.6 million square feet at 90% occupancy.
Office-only lease revenue was INR201 crores, up 8% year-on-year; rental collections at 99%.
Leasing segment revenue INR329 crores, down 3% year-on-year, a period that included a one-time income of around INR26 crores; excluding that, revenue would be 4% higher.
Leasing EBITDA including facility management was INR242 crores, a margin of 73%.
6.8 million square feet of commercial development under construction, with balance capital expenditure of approximately INR3,350 crores.

Orion Mall portfolio trading occupancy at 94%; retailer sales grew 16% year-on-year.
Hospitality turnover INR161 crores with EBITDA of INR59 crores, up 41% year-on-year, and a margin of 37%.
Portfolio ARR INR7,876 (up 11%) and RevPAR INR5,922 (up 10%) at 75% occupancy.
BHVL's PAT more than doubled to INR22 crores.

The INR9,000 crores presales guidance was reiterated for the year.
Two large township projects in Bengaluru are planned for launch in Q3.
The company expects operating cash flow for the full financial year to be higher than FY26.
Stated priorities for the second half: deliver planned launches on time, convert sales into collections and grow the annuity portfolio.

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