Brigade Enterprises - Launches To Pick Up; Strong Visibility On Leasing: Motilal Oswal
On the back of a strong launch pipeline, we expect Brigade Enterprises’ pre-sales to record a 17% CAGR to 7msf by FY25.
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Motilal Oswal Report
We met the management of Brigade Enterprises Ltd. to understand its business outlook. Key takeaways are-
demand momentum is intact owing to favorable affordability despite 200 basis points increase in interest rate,
Brigade Enterprises expects to launch 13 million square feet of projects over the next 12 months,
re-iterated its target to grow sales volumes by 15-20% over the next three years,
focus on business development to continue across Bengaluru, Chennai, and Hyderabad and
expect commercial portfolio to be fully leased by Sep-23.
On the back of a strong launch pipeline, we expect Brigade Enterprises’ pre-sales to record a 17% compound annual growth rate to 7msf by FY25.
We believe pick up in business development activity will lead to re-rating in value of its residential segment as the current market price does not reflect the growth potential.
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