Brigade Enterprises Q1 FY27 Net Profit Rises 37%

Consolidated revenue for Q1 FY27 stood at INR1,179 crore with EBITDA of INR425 crore.
EBITDA margin improved to 36% from 28% in Q1 FY26, an 800 basis points improvement.
Consolidated PAT stood at INR217 crore, representing 37% year-on-year growth and 14% quarter-on-quarter growth.
PAT after minority interest was INR200 crore.
The quarter included an exceptional gain of INR36.6 crore at PAT level due to reclassification of investment in a subsidiary upon investment from Bain Capital.

Real Estate Segment:

Turnover of INR707 crore with EBITDA of INR150 crore, representing 45% absolute increase from Q1 FY26.
EBITDA margin improved to 21% from 12% in Q1 FY26.
Net sales were INR1,061 crore, 5% lower year-on-year.
Realization increased to INR14,256 per square foot, a 21% year-over-year improvement.
Collections from Real Estate segment stood at INR1,346 crore, an 8% increase over Q1 FY26.

Leasing Segment:

Turnover of INR328 crore, representing 9% growth over Q1 FY26.
EBITDA of INR230 crore with margin of 70%.
Operational portfolio of 8 million square feet GLA across Bengaluru, Chennai, Kochi and Ahmedabad.
Portfolio occupancy at 88%.
Gross leasing of 0.22 million square feet during the quarter.
Rental collections remained robust at 99%.
Collections from Leasing segment were INR343 crore, 10% growth year-on-year.

Hospitality Segment:

Residential Business:

Strong launch pipeline of 16.4 million square feet over next 4 quarters, including 12.4 million square feet residential with GDV of approximately INR13,400 crore.
Geographical split: Bengaluru (4.3 msf), Hyderabad (4 msf), Chennai (3 msf), Mysore (1 msf).
For remainder of FY27: 9.36 million square feet planned launches.
Q2 FY27 launch target: 2.36 million square feet.
Business development: Added INR2,400 crore GDV across 2.7 million square feet in Q1 FY27, primarily in Hyderabad.

Commercial Office Business:

GCCs contributed 58% of gross leasing with diversification across automotive/mobility, technology, industrial/engineering and BFSI.
IT/ITES accounts for 26% of overall portfolio mix.
0.9 million square feet of vacant lease-up opportunities within operational portfolio.
WTC Bangalore (1.13 million sq ft, Brigade share 0.71 million sq ft) currently 50% leased with 375,000 sq ft remaining.

Retail Business:

Orion Mall portfolio delivered strong performance with footfalls growing 11% year-on-year.
Retail sales grew 35% year-on-year.
Cinema admissions increased 20% year-on-year.
Anchor retailers showed 64% year-on-year sales growth.

Hospitality Business:

Rebranded Four Points by Sheraton Kochi Infopark to Courtyard by Marriott Kochi Infopark.
Development pipeline of 1,700 keys, targeting 3,300 keys by FY31.
Courtyard by Marriott Chennai WTC (45 keys) to launch in FY27.
61% of portfolio energy requirements sourced from renewable energy.
Entire operating portfolio EDGE certified (IFC green building standard).

Planned relaunch impacted by environmental clearance being revoked by SEIAA (State Environment Impact Assessment Authority).
Company has refunded affected homebuyers.
Company maintains position that project land does not fall within Pallikaranai marshland.
Approached High Court, which directed SEIAA to file counter affidavit and asked all authorities to maintain status quo.
Project removed from launch pipeline numbers; not part of 3 million square feet Chennai pipeline.
Impact: 0.7 million square feet with attributable value of INR650 crore currently included in unsold inventory but may be removed if issue persists.

Total collections for the quarter were INR1,856 crore, representing 7% year-on-year growth.
Net cash flow from operating activities stood at INR354 crore, 10% growth from Q1 FY26.
Gross debt as of June 30, 2026: INR5,305 crore.
Cash and cash equivalents: INR3,087 crore.
Net debt: INR2,218 crore (Brigade Enterprises share excluding JV owner share: INR1,541 crore).
86% of debt pertains to leasing segment, backed by rental incomes.
Average cost of debt for June 2026: 7.61%.
Debt equity ratio: 0.26.

Maintains FY27 presales guidance of INR9,000 crore.
Expects leasing revenue CAGR of approximately 20% over next 5-6 years.
Launches expected to be back-ended into coming quarters, similar to FY26 pattern.

Phase 2 of Utopia project: Potential launch in Q1 FY28 (not included in current pipeline).
75-acre KIADB allotment: Residential component reduced to 3-4 lakh square feet due to bylaw changes.
Kengeri land parcel: Not ready for launch due to ongoing litigation.

Brigade Foundation renovated 105-year-old Vishwavidyala Vidya School in Chikmagalur, Karnataka.
Participated in BDA-led tree plantation drive that set Guinness World Record with nearly 15 lakh saplings planted.
Planted over 2 lakh trees to date across projects as part of net-zero 2045 journey.
Indian Music Experience Museum completed 7 years; L. Subramaniam donated violin and musical compositions.
Sprintfest 2026 brought together 3,000+ participants including 25 visually impaired runners.
Chairman received Nadaprabhu Kempegowda Rajya Award 2026 from Government of Karnataka.
Management recognized in Fortune 100's 100 Most Powerful Women in India.
Brigade Foundation received special recognition at FKCCI Global CSR Summit.
Brigade Hospitality Services ranked fourth among India's Great Mid-sized Workplaces 2026.