NSE/BRIGADE

BRIGADEBrigade Enterprises Ltd

Real Estate · NSE

₹762.25+3.22%

52-wk low52-WEEK RANGE52-wk high

₹634.7+20.1% from low ·-40.4% from high₹1,278

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

BRIGADE-16.18% · 1Y

Range high ₹1,332Range low ₹601Latest ₹762.25252 bars · daily-close · NSE bhavcopy + 10Y history

Real EstateReal Estate - DevelopmentMidcapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite63/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return -24.4% — underperformer
· Below 200-DMA (-13.1%) — downtrend

Valuation

Low

Appears to be fairly valued to cheap vs peers.

· P/E 24.6 vs sector median 33.4 — 26% cheaper

Growth

High

Growing faster than the broader market.

· Revenue YoY +3.6% — slow
· Profit YoY +51.9% — strong earnings growth

Profitability

Medium

Average profitability vs peers.

· ROE 11.5% — weak returns on equity
· Top quartile ROE in Real Estate

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeC(54/100)

Durability

54/100

Mixed quality signals; requires deeper due diligence.

Show 4 drivers

Piotroski F-score5/9 (56pt)
Altman Z" score1.45 (46pt)
Debt/Equity0.76 (67pt)
ROE11.5% (46pt)

Valuation

68/100

Fairly priced — not a bargain, not stretched.

Show 4 drivers

P/E vs sector (24.6 / 33.4)74% (95pt)
P/B2.84 (70pt)
Dividend yield0.33% (8pt)
EV/EBITDA15.3 (40pt)

Momentum

40/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change-24.4% (0pt)
DMA-trend alignmentsideways (50pt)
RSI (14)64.6 (90pt)
Price vs 200-DMA-13.7% (33pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)24.65

UNDERVALUED

CheapestP/E 24.6 at 18th %ile of sector — cheaper than 82% of peers.Most expensive

P/B2.84

UNDERVALUED

CheapestP/B 2.84 at 27th %ile of sector.Most expensive

EV/EBITDA15.34

FAIR

Monthly seasonality

Avg monthly return over 10 years · historical — not a forecast

Best: Nov +7.36% · Worst: Mar -1.19%

Jan

-0.7%

40% win

Feb

-0.5%

30% win

Mar

-1.2%

40% win

Apr

+2.1%

60% win

May

+3.4%

70% win

Jun

+4.7%

Monthly return distribution

Distribution of 120 monthly returns

Mean

+2.39%

Median

+2.05%

Std dev

11.71%

Best

+35.5%

Worst

-43.8%

% positive

56%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 2

Consistent top-line growth (19.6% 3Y CAGR)
Sustained revenue compounding is rare and hard to fake
Top quartile ROE in Real Estate
Rank 2 of 11 peers

WEAKNESSES · 0

No material weaknesses flag from the numbers

OPPORTUNITIES · 1

33% upside to consensus target (₹1002)
14 analysts see fair value materially higher

THREATS · 0

No immediate threats from the data

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+3.2%

+5.4%

+16.6%

-12.3%

-14.9%

-17.5%

+17.2%

+20.8%

10Y

+23.1%

Fundamentals

VALUATION

Market cap

₹18,428 Cr

P/E (TTM)

24.6

P/E (fwd)

17.8

next 12m

P/B

2.84

EV/EBITDA

15.3

Book value

₹265.26

per share

PROFITABILITY · QUALITY

ROE

11.5%

ROCE

—

Net margin

13.5%

Op margin

21.0%

Gross margin

49.9%

D/E

0.76

GROWTH · MARKET

Rev YoY

+3.6%

Profit YoY

+51.9%

Div yield

0.33%

Payout

8.2%

52w change

-24.4%

Beta

0.07

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 5

+Trading at -26.2% vs sector median P/EP/E 24.6 vs Real Estate median 33.4 — relative value on earnings
+Forward P/E materially below trailing (17.8x vs 24.6x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+Strong operating margin (21.0%)Meaningful pricing power or cost discipline — above many Indian companies
+Profit growing fast (+51.9% YoY)Operating leverage kicking in — bottom line out-growing top line
+3-year revenue CAGR of 19.6%Sustained multi-year growth — not a one-quarter flash

CONS · 1

−Down -24.4% over the last yearSignificant underperformance — could be opportunity or warning depending on fundamentals

Sector-relative context

Real Estate · 11 peers

P/E (TTM)

This stock

24.65

Sector median

33.37

Rank 2/11 (91th %ile)

ROE

This stock

11.5%

Sector median

9.5%

Rank 10/11 (18th %ile)

P/B

This stock

2.84

Sector median

3.06

Rank 3/11 (82th %ile)

Quality score · Piotroski F-score

5 / 9

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✗Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✗ROA improved YoY· Getting more productive with the asset base
✗Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

GREY1.45

Z″ = 1.45 — GREY zone. Not flagged as distressed, but watch the weakest input component below.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.156	×6.56	1.021
Retained Earnings / Total Assets (B)	0.051	×3.26	0.165
EBIT / Total Assets (C)	0.028	×6.72	0.186
Book Equity / Total Liabilities (D)	0.070	×1.05	0.074

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

14 analysts · STRONG_BUY

Target mean

₹1002.43

Target high

₹1250.00

Target low

₹610.00

Upside vs today

+33.1%

Street consensus target is +33.1% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Real Estate - Development

Employees

3,043

Shares out

24.5

Revenue (TTM)

₹5,700 Cr

EBITDA

₹1,453 Cr

Total debt

₹5,375 Cr

Cash

₹2,360 Cr

Net debt

₹3,015 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	1,072	1,464	1,420	1,281	1,575
Operating profit	223	337	336	248	331
OPM %	20.8%	23.1%	23.6%	19.4%	21.0%
Interest	123

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	2,944	3,397	4,866	5,034
Operating profit	419	548	887	1,121
OPM %	14.2%	16.1%	18.2%	22.3%
Interest	431	417	474	483

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
BRIGADETHIS Brigade Enterprises Limited	₹762.25	-24.4%	18,428	24.6	2.84	11.5%	0.76	+3.6%
DLF DLF Limited	₹601.75	-11.0%	1,47,628	33.4	3.43	10.3%	0.04	+32.2%
LODHA Lodha Developers Limited	₹872.55	-32.5%	85,562	25.6	4.02	16.9%	0.45	+14.4%
PHOENIXLTD The Phoenix Mills Limited	₹1,792.2	+11.4%	63,262	58.1	5.86	—	0.34	-4.1%
OBEROIRLTY Oberoi Realty Limited	₹1,710.6	+3.3%	61,761	27.6	3.69	—	0.18	+17.6%
PRESTIGE Prestige Estates Projects Limited	₹1,356.8	+7.0%	58,398	60.6	3.69	6.3%	0.89	-6.7%
GODREJPROP Godrej Properties Limited	₹1,758.8	-14.0%	52,582	33.2	2.87	8.7%	0.88	+62.2%
SOBHA Sobha Limited	₹1,332.2	+7.2%	14,104	99.0	3.06	—	0.23	+102.7%
MAHLIFE Mahindra Lifespace Developers Limited	₹325.15	-0.3%	6,800	20.7	1.81	—	0.10	+75.5%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	8.37	8.22	-1.8%
-2q	6.80	6.64	-2.4%
-3q	7.43	6.12	-17.7%
-4q	11.13	10.32	-7.3%

Date	Amount
2025-08-13	₹2.50
2024-07-30	₹2.00
2023-07-31	₹2.00
2022-07-25	₹1.50
2021-08-02	₹1.20
2020-03-23	₹1.00
2019-07-26	₹1.33
2018-08-02	₹1.33
2017-09-13	₹1.67

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	230	231	231	244
Reserves	767	1,024	1,409	2,043
Borrowings	5,181	4,988	5,886	5,950
Other liabilities	62	64	77	72
Total liabilities	15,158	16,377	17,886	22,090
Fixed assets	1,590	1,797	1,333	1,533
CWIP	665	916	432	540
Investments	43	24	20	5
Other assets	2	1	1	1
Total assets	15,158	16,377	17,886	22,090

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	1,032	966	334	995
CF Investing	-971	-271	-379	-590
CF Financing	33	-695	241	860
Net cash flow	94	1	195	1,265
Free cash flow	824	644	65	356

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	22.3%	18.2%	16.1%	14.2%
Net margin %	13.6%	9.3%	8.6%	2.8%
ROE %	34.9%	31.2%	25.9%	8.3%
ROCE %	17.2%	15.1%	11.2%	6.7%
Debt / Equity	2.60	3.59	3.97	5.19
Interest coverage	2.8×	2.2×	1.7×	1.0×
Revenue growth YoY	+3.5%	+43.3%	+15.4%	—
Profit growth YoY	+51.8%	+55.0%	+252.1%	—

BRIGADEBrigade Enterprises Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Real Estate

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Stock scorecard

Recent news

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Peer comparison · Real Estate

Ratios