Brigade Enterprises Q2 FY27 Profit Rises 29% in 2026

Q2 profit grows despite lower total income

Brigade Enterprises reported consolidated net profit of ₹218.82 crore for the quarter ended September 30, 2026, up about 29% year-on-year. The Bengaluru-based developer had reported profit of about ₹170 crore in the corresponding quarter of the previous financial year. Total income, however, declined 12.6% to ₹1,249.99 crore from ₹1,429.86 crore a year earlier. The result showed that profitability improved even as reported income fell from the prior-year base. Higher operating earnings across real estate, leasing and hospitality supported the quarterly performance.

EBITDA rises to ₹478 crore

Earnings before interest, tax, depreciation and amortisation, or EBITDA, rose 27.5% to ₹478 crore in Q2 FY27 from ₹375 crore in Q2 FY26. Profit before tax increased 47% year-on-year to ₹288 crore. The company reported an operating margin of 22.96% and a net profit margin of 21.75% for the quarter. These figures indicate that the improvement in earnings was not limited to sales bookings, but was also reflected in the group’s operating performance. The result combined development activity with income from its recurring leasing portfolio and hospitality operations.

Residential sales reach ₹1,827 crore

Brigade recorded real estate sales of ₹1,827 crore during the quarter across around 1.3 million square feet. The company said residential demand remained supportive, particularly with its project-launch momentum. Managing Director Pavitra Shankar said residential continued to drive growth, supported by demand and the company’s project pipeline. She noted that customers were increasingly prioritising quality, location, larger homes and amenities. The company stated that demand remained resilient in the mid and premium housing segments.

New launches expand development pipeline

The developer launched projects covering around 2.4 million square feet in Q2 FY27. These launches carried an estimated gross development value of about ₹3,000 crore. New project additions are important for a developer because they create inventory for future sales and construction activity. The launches also supported the quarter’s sales momentum, according to the company. Brigade’s real estate segment reported revenue of ₹760 crore, while EBITDA rose 59% year-on-year to ₹175 crore. The segment’s EBITDA margin was 23%.

Leasing portfolio maintains high occupancy

Brigade’s leasing business generated revenue of ₹329 crore during the September quarter. Segment EBITDA rose 9% year-on-year to ₹242 crore, resulting in an EBITDA margin of 74%. Occupancy across the leasing portfolio stood at 90% as of September 30, 2026. During the quarter, Brigade completed Brigade Square and Arcadia at Brigade Cornerstone Utopia. These projects added 0.27 million square feet of leasable space to the portfolio. The leasing business provided a recurring income stream alongside the more project-linked real estate business.

Hospitality business adds to earnings

The hospitality segment reported quarterly revenue of ₹161 crore. Its EBITDA increased 41% year-on-year to ₹59 crore, with a margin of 37%. Brigade’s hospitality business includes hotels developed by the group for hotel brands to manage. The segment’s improved operating profit contributed to the group-level rise in EBITDA. The available quarterly disclosures show that each of Brigade’s three main businesses - real estate, leasing and hospitality - added to operating earnings. This diversification helped offset the decline in consolidated total income.

Collections and first-half performance

Collections during Q2 FY27 stood at ₹1,633 crore. For the first half of FY27, Brigade reported collections of ₹3,489 crore. Consolidated revenue for the six months declined to ₹2,429 crore from ₹2,763 crore in the year-ago period. However, first-half EBITDA increased to ₹903 crore from ₹750 crore, while profit before tax rose to ₹572 crore from ₹389 crore. Net profit for the six-month period increased to ₹436 crore from ₹328 crore. The figures show a stronger earnings trend in the first half despite lower consolidated revenue.

Balance sheet and operating indicators

As of September 30, 2026, Brigade Enterprises reported net worth of ₹6,517.47 crore. Its gross debt-equity ratio stood at 0.46, while the current liability ratio was 0.80. These disclosed indicators provide context for the company’s capital structure at the end of the quarter. The company also highlighted its AA credit ratings in its investor presentation. Its leasing portfolio occupancy and fresh development launches remain key operating indicators because they reflect recurring income capacity and future sales supply. No share-price movement or stock-market reaction was provided in the reported results.

What the quarter means for investors

The quarter underlined the role of residential bookings and diversified business lines in Brigade’s earnings profile. A decline in total income did not prevent growth in EBITDA, profit before tax or net profit. The real estate business delivered higher segment EBITDA, while leasing retained a high margin and 90% occupancy. Hospitality also reported a 41% increase in EBITDA. Management has said it expects 21% growth in pre-sales to ₹9,000 crore in the current financial year, based on demand for mid-income and premium homes. The next reported milestones will be execution of the newly launched projects, sales conversions, leasing absorption and subsequent quarterly disclosures.