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Motilal Oswal Report
Brigade Enterprises Ltd. reported a steady quarter, guided by strong demand for its recently launched projects across its core markets. However, it has a strong pipeline of ~13 msf, which should enable it to sustain the growth traction going ahead.
The management intends to keep assessing growth opportunities in the residential segment and expects to spend higher on business development over the next two years. This will provide growth visibility in the residential segment and lead to further re-rating. We reiterate our Buy rating with a target price of Rs 1,540, implying 41% potential upside.
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