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Target: ₹745
CMP: ₹633.55
Brigade Enterprises’ FY23 residential sales volume was about 6.1 million sq ft worth ₹3,907 crore, up 31 per cent and 32.4 per cent, respectively.
With strong launch pipeline of 7.9 million sq ft over the next four quarters coupled with about 3 million sq ft unsold inventory in ongoing projects, Brigade Enterprises is poised to witness continued traction in residential sales momentum. Furthermore, strong business development (three land purchase with developable potential of 5.5 million sq ft and sales potential of ₹6,500 crore across Chennai/Hyderabad in the last one year) will keep the medium-term sales trajectory healthy.
Brigade has an operational leasing portfolio of 8.7 million sq ft of commercial and retail assets, of which 7.45 million sq ft has been leased. The vacancies are largely from SEZ space, owing to delay SEZ denotification policy.
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