Brigade Enterprises Banks On New Launches To Achieve Annual Targets In FY26

Bengaluru-based real estate developer Brigade Enterprises banks on new launches and regulatory clearances for existing projects for its full-year growth momentum in the current fiscal.  The full-year performance will be heavily influenced by approvals and the launch of new residential projects in the second half of the financial year, according to its Managing Director, Pavitra Shankar.

She outlined that while underlying demand remains robust, the business is "heavily dependent" on new launches to meet its annual growth targets.

“In many of the projects, they're in late-stage approvals, so it's really just a matter of doing that. The achievement of what we typically like to look at from an annual year-on-year growth perspective is heavily dependent, for the residential sector, on these approvals and launches coming through,” she told NDTV Profit on Thursday.  

The company reported a strong second quarter in FY26, with a 26% year-on-year (YoY) rise to Rs 1,430 crore in revenue and a 48% YoY jump in Profit After Tax (PAT) to Rs 170 crore. 

Brigade Enterprises is targeting a 15% YoY rise in the value of presales bookings in FY26.

The company has achieved pre-sales of over Rs 3,000 crore in H1FY26. According to Shankar, this was in line with historical trends, as H1 is "generally on the lower side" for the company.

“The business is always lumpy. We're looking to continue improving pre-sales over the course of the second half of the year,” she said.

She emphasised that the challenge is not a lack of customer interest but a matter of supply and added that sales performance hinges on securing timely approvals and (RERA Real Estate Regulatory Authority) clearances.

“Whatever we have been able to launch so far is selling well. There's no question of a demand picture being different on the ground. It's really about just getting the launches going,” Shankar said. 

"Approvals are still not simple or easy to get, but we're working very hard to ensure that we get most of our approvals in," she added. The company has a strong pipeline of launches planned for the rest of the year in Bangalore, Chennai, Hyderabad and Mysore.

Addressing concerns over IT sector headcount fluctuations in Bengaluru, a core market for Brigade, she indicated a positive scenario.

"While we've been getting a lot of questions about IT services firms reducing their headcounts, GCC (Global Capability Centre) firms have been adding headcount, and I would say adding it at a much higher salary level," Shankar said.

This trend, she concluded, has "actually driven the demand for more premium product," benefiting not just the company but the entire residential market.

Shares of Brigade Enterprises closed marginally higher at Rs 1,037.7 apiece, up 0.31%, on the NSE, while the benchmark Nifty50 ended at 25,877.85, down 0.68%.