Brigade Enterprises Ltd - Stock Valuation and Financial Performance

BSE: 532929 | NSE: BRIGADE | Construction - Real Estate | Small Cap

Brigade Enterprises Share Price

934.15 10.90 1.18%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Brigade Enterprises

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Brigade Enterprises stock performance -

mw4me loader
P/E Ratio (SA):
80.96
Market Cap:
21,622.7 Cr.
52-wk low:
448.1
52-wk high:
1,107.7

Is Brigade Enterprises Ltd an attractive stock to invest in?

1. Is Brigade Enterprises Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Brigade Enterprises Ltd is a average quality company.

2. Is Brigade Enterprises Ltd undervalued or overvalued?

The key valuation ratios of Brigade Enterprises Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Brigade Enterprises Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Brigade Enterprises Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Brigade Enterprises:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Brigade Enterprises Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 7.2%6.3%8.7%9%8.1%8.3%9.2%6.1%8.3%8.7%-
Value Creation
Index
-0.5-0.6-0.4-0.4-0.4-0.4-0.4-0.6-0.4-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 8999881,5781,4991,2651,8061,8521,5242,1612,2091,654
Sales YoY Gr.-9.9%59.7%-5%-15.6%42.8%2.6%-17.7%41.8%2.2%-
Adj EPS 548.7108.811.312.96.913.415.811.6
YoY Gr.--20%119.1%14.4%-11.2%27.4%14.1%-46.7%95.8%17.9%-
BVPS (₹) 75.577.889.999.3114112.9122.9131.5154.7170175.3
Adj Net
Profit
83.667.2148170181230263145309365267
Cash Flow from Ops. 449-1621341469.2230292419534283-
Debt/CF from Ops. 1.9-77.58.1428.38.374.53.15-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 10.5%11.8%6.1%2.2%
Adj EPS 13.8%12.3%7.2%17.9%
BVPS9.4%8.3%11.4%9.9%
Share Price 36.8% 41.2% 51.4% 103.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
6.75.210.410.599.910.85.49.79.76.7
Op. Profit
Mgn %
31.729.923.52731.726.726.626.423.921.119.8
Net Profit
Mgn %
9.36.89.411.314.312.714.29.514.316.516.2
Debt to
Equity
0.70.91.110.80.80.80.70.50.4-
Working Cap
Days
5516145086257997388521,047758769483
Cash Conv.
Cycle
19119222129534224755170048447693

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 6.70%

Sales growth has been subdued in last 3 years 6.05%

Net Profit has been subdued in last 3 years 7.15%

Sales growth is not so good in last 4 quarters at -30.56%

Latest Financials - Brigade Enterprises Ltd.

Standalone Consolidated
TTM EPS (₹) 11.6 13.6
TTM Sales (₹ Cr.) 1,654 4,037
BVPS (₹.) 175.3 148.4
Reserves (₹ Cr.) 3,820 3,199
P/BV 5.34 6.30
PE 80.96 68.69
From the Market
52 Week Low / High (₹) 448.05 / 1107.65
All Time Low / High (₹) 18.53 / 1107.65
Market Cap (₹ Cr.) 21,623
Equity (₹ Cr.) 231.1
Face Value (₹) 10
Industry PE 76.7

Management X-Ray of Brigade Enterprises:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Brigade Enterprises

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales8999881,5781,4991,2651,8061,8521,5242,1612,209
Operating Expenses 6146931,2081,1018641,3241,3611,1221,6441,745
Manufacturing Costs324490623612539570551486755808
Material Costs66-4131525394490518440591605
Employee Cost 7889107909010812190130147
Other Costs 147155164146141156171105168185
Operating Profit 285295371399401482491402517464
Operating Profit Margin (%) 31.7%29.9%23.5%26.6%31.7%26.7%26.5%26.4%23.9%21.0%
Other Income 17209091103123144113143216
Interest 102115150180183178201198143134
Depreciation 77929876696876878480
Exceptional Items 000000-15-54036
Profit Before Tax 123109212234252359344178433502
Tax 33396569711248433124117
Profit After Tax 9070147165181234261145309385
PAT Margin (%) 10.0%7.1%9.3%11.0%14.3%13.0%14.1%9.5%14.3%17.4%
Adjusted EPS (₹)5.34.18.79.78.811.512.86.913.416.7
Dividend Payout Ratio (%)25%32%15%17%15%12%8%18%11%12%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1,2721,3161,5261,6932,3282,3052,5112,7723,5613,922
Share Capital 112113113114136136204211230231
Reserves 1,1591,2041,4131,5802,1912,1692,3072,5623,3313,691
Minority Interest0000000000
Debt3915669789471,5571,6411,5241,4911,3931,298
Long Term Debt3755579758591,3191,5861,5111,4231,3921,298
Short Term Debt161038823855146810
Trade Payables182248342359403381300316357359
Others Liabilities 1,1091,4321,9831,7231,4693,1333,3303,5293,4843,564
Total Liabilities 2,9533,5634,8294,7215,7567,4607,6668,1098,7959,142

Fixed Assets

Gross Block1,3921,40924937434145474849
Accumulated Depreciation229322259111418222426
Net Fixed Assets1,1621,08722429322727252324
CWIP 188377435250432179754316
Investments 1331927138271,3531,4981,7932,0512,5952,347
Inventories7129781,6791,5261,4763,0482,9763,0702,9733,363
Trade Receivables34164656148359283325280252
Cash Equivalents 2822304344112137185289599
Others Assets6968901,7021,9922,2722,2372,3762,4492,6312,541
Total Assets 2,9533,5634,8294,7215,7567,4607,6668,1098,7959,142

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 449-1621341469230292419534283
PBT 123109212232252359344178433502
Adjustment 16920316922915915317223795-20
Changes in Working Capital 181-296-132-6-298-205-1665788-102
Tax Paid -24-31-36-41-43-76-58-52-82-98
Cash Flow From Investing Activity -159-240-473-332-638103-194-151-58372
Capex -117-176-245-156-136-74-58-20-15-39
Net Investments -43-71-287-177-513168-156-201-58023
Others 1659011919701288
Cash Flow From Financing Activity -288251273-92557-261-58-282123-360
Net Proceeds from Shares 022349411885038
Net Proceeds from Borrowing -13840548154161131169-256-216-204
Interest Paid -117-123-161-198-193-183-193-154-136-129
Dividend Paid -20-26-490-41-31-560-28-35
Others -13-7051136-179204000
Net Cash Flow 2-513-10-127240-1474-5
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)7.255.4110.3710.278.9810.1110.835.479.7510.29
ROCE (%)10.49.5612.512.5711.4112.6212.398.1311.6912.06
Asset Turnover Ratio0.320.30.380.310.240.270.240.190.260.25
PAT to CFO Conversion(x)4.99-0.231.452.510.380.981.122.891.730.74
Working Capital Days
Receivable Days109712295163735144
Inventory Days267312307390433457594724510524
Payable Days719-1,9313425061,482292240255208216

Brigade Enterprises Ltd Stock News

Brigade Enterprises Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Brigade Enterprises on 28-Mar-2024 16:01 is ₹934.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Brigade Enterprises stood at ₹21,622.7.
The latest P/E ratio of Brigade Enterprises as of 28-Mar-2024 16:01 is 80.96.
The latest P/B ratio of Brigade Enterprises as of 28-Mar-2024 16:01 is 5.34.
The 52-week high of Brigade Enterprises is ₹1,107.7 and the 52-week low is ₹448.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Brigade Enterprises is ₹1,654 ( Cr.) .

About Brigade Enterprises Ltd

Brigade Enterprises Limited (BEL) was originally set up as a partnership firm between M R Jaishankar and Gita Shankar in 1990. BEL was converted into a private company in 1995 and a public company in July 2007. It develops residential, commercial and retail properties primarily in Bangalore and Mysore, and has also developed and is managing around 115 serviced apartments under the brand, Brigade Homestead.

It is one of India’s leading property developers with over three decades of expertise in building positive experiences for all its stakeholders and winning customer’s trust. Instituted in 1986, the company has developed many landmark buildings and transformed the city skyline of cities across South India namely: - Bengaluru, Mysuru, Mangaluru, Hyderabad, Chennai and Kochi with developments across Residential, Offices, Retail, Hospitality and Education Sectors.

Brigade’s residential portfolio includes villas, villaments, penthouses, premium residences, luxury apartments, value homes, urban studios, independent living for seniors and mixed-use lifestyle enclaves and townships. Brigade is among the few developers who also enjoys a reputation of developing Grade A commercial properties. The company is the license owners of the World Trade Center across South India, its commercial spaces have top international clients operating out of them. Brigade’s retail projects include Orion Mall, Orion East and Orion OMR. Brigade’s hospitality offerings include star hotels, recreational clubs and convention centres, Celebrations Catering & Events and The Baking Company.

Business area of the company

The company is engaged in developing residential, commercial and retail properties primarily in Bangalore and Mysore, and has also developed and is managing a number of serviced apartments under the brand, Brigade Homestead. It has a uniquely diverse multi-domain portfolio that covers property development, property management services, hospitality and education. The company is also engaged in the business of Real estate, Hospitality, Lease Rentals. 

Awards and Accolades

2015-16

  • Orion Mall won the ‘Best Shopping Mall of the Year Award in South India’ at the 4th Indian Retail & eRetail Awards 2015.
  • Orion Mall received two of the coveted trophies - ‘IMAGES Most Admired Shopping Centre of the Year: South’ and ‘IMAGES Most Admired Shopping Centre Marketing & Promotions of the YearSouth’, at the IMAGES Shopping Centre Awards 2015.
  • Brigade Group won the ‘Hotel Owner of the Year Award’ at The ‘Hospitality Leaders’ Industry Choice Awards’2015.
  • Brigade Group has been Ranked No. 1 in the Real Estate Industry and No. 28 across all industries in India as India’s Great Companies to Work for 2015 by Great Place to Work Institute and The Economic Times.
  • Brigade Caladium received the ‘Best Ultra Luxury Project of the Year- North Bangalore’ at the Silicon India Bangalore Real Estate Awards 2015.
  • Brigade Exotica won the ‘ICI (KBC)-BIRLA SUPER Award’ for Outstanding Concrete Structure of Karnataka (Building Category)-2015 from Indian Concrete Institute during the Concrete Day Celebrations.
  • Brigade Group won both CREDAI National Awards for CSR at the CREDAI Conclave 2015. The Environmental Impact Award for rejuvenating Sitharampalya Lake in Whitefield and the redevelopment of the Sangolli Rayanna Park in Malleswaram and the Social Infrastructure Award for the redevelopment of the Shri Nadaprabhu Kempegowda Playground in Malleswaram and the Skywalk with escalator across Dr. Rajkumar Road in Rajajinagar.
  • Brigade Exotica won the ‘Luxury Apartment Project of the Year Award’ at the NDTV Property Awards 2015.

2016-17

  • Brigade Cosmopolis won the Best Residential Project in Bangalore in the Luxury segment at the 11th CNBC Awaaz Awards 2016.
  • Brigade at No. 7 won the Best Residential Project in Hyderabad in the Ultra Luxury segment at the 11th CNBC Awaaz Awards 2016.
  • Brigade Group won the Integrated Township of the Year - South and Developer of the Year- Mixed Use at the Estate Awards 2017.
  • Brigade Group has been Ranked No. 1 in the Real Estate Industry and No. 39 across all Industries in India as India’s Great Companies to Work for 2016 by Great Place to work Institute and the Economic Times.
  • Orion East Mall won “Retail Property of the Year-South” at the 5th Indian Retail & e-Retail Awards 2016.
  • Brigade Exotica received the ‘Best Design Apartment Project of the Year - East Bangalore’ award at the SiliconIndia Bangalore Real Estate Awards 2016.
  • Brigade Group received India’s Top Builders 2016 Award at CWAB Awards.
  • Brigade Group won the 1 st Runner Up for the South Region in the CII-National Excellence Practice Competition-2016.
  • Brigade Group scored a Hat-Trick at the 6th Annual Construction Week India Awards 2016 - Mr. M.R. Jaishankar won the Real Estate Person of the Year Award, Ms. Nirupa Shankar Won the - Young Entrepreneur of the year Award and Brigade Exotica won theRunners Up Award in the High Rise Building Category.
  • Orion Mall won 3 Awards at the Times Retail Icon Awards - Bangalore 2016 - Emerging Mall - Orion East, Best Marketing & Promotion - Orion Mall at Brigade Gateway and Best CSR Activities - Orion Mall at Brigade Gateway.
  • Aspen at Brigade Orchards, Won the ICI (BC) - Birla Super Jury Appreciation Award for Outstanding Concrete Structure of Karnataka 2016 in the Building Category.
  • Mr. M.R Jaishankar was recognised as a Professional Developer par Excellence by Association of Consulting Civil Engineers (India), Bangalore Centre for his Contributions to the Society at REDECON 2016.
  • Brigade won 2 Awards at the Realty Plus Excellence Awards (South) 2016 - Developer of the year - Commercial for Nalapad Brigade Centre & CSR Initiatives of the Year for the Redevelopment of Sitharampalya Lake.
  • Mr. M.R. Jaishankar has been recognised as one of India’s Best CEO’s and ranked in the Top 100 CEO’s by Business Today - PwC in the Annual ranking of India’s Best CEO’s 2016.
  • Brigade Orchards won the Order of Merit Award at the Businessworld Smart Cities Conclave & Awards.
  • Orion Mall won the Retail Property of the Year - South at the Estate Awards 2017.
  • Nirupa Shankar, Director - Brigade Hospitality won the ‘Restaurant owner of the Year’ award and Saurabh Bakshi, General Manager - Sheraton Grand Bangalore won the ‘General Manager of the Year’ award at the Hospitality Leaders’ Industry Choice Awards (HLICA) at the 7th edition of the Hotelier Summit India.
  • Mr. Vishal Mirchandani, CEO - Retail & Commercial won the IMAGES Most Admired Shopping Centre Professional of the year Award.

2017-18

  • Brigade has been recognized for being amongst the best in the Construction and Real Estate industry, at the Great Place To Work for 2017 Awards.
  • WTC Kochi won the ‘Commercial Project of the Year’ award at the 9th Realty Plus Excellence Awards (SOUTH) 2017.
  • Brigade Palmgrove, Mysuru won in the ‘Villas & Row Houses’ category at the CREDAI Karnataka’s CARE Awards 2017.
  • Brigade was recognised as one of India’s Top Builders at the Construction World Architects & Builders Award 2017.
  • Brigade Palmgrove won the first prize and Brigade Symphony won the second prize for the ‘Best Landscaped Gardens’ at the Annual Mysuru Dasara Flower Show 2017 jointly organised by Horticulture Department, District Horticulture Association and Mysuru City Corporation (MCC), at Mysuru.
  • Brigade Exotica won the Best Residential Project at the CIA World Construction & Infra Awards 2018.
  • Brigade Palmgrove Mysore won the Premium Villa Project of the Year at NDTV Property Awards 2018.
  • Brigade won the first runner up award for Excellence in Workplace Safety Award from CII, Institute of Quality.
  • Brigade was recognised as one of Bengaluru’s Hot 50 Brands at the Brand Summit & Hot Brands 2018 event organised by Paul Writer.
  • Orion East won in the ‘Shopping Malls’ category at the CREDAI Karnataka’s CARE Awards 2017.
  • Orion Mall won the Images Most Admired Shopping Centre of the Year: Metro South at the Images Shopping Centre Awards 2017.
  • Orion Mall won the Images Most Admired Shopping Centre of the Year: Marketing and Promotions-South at the Images Shopping Centre Awards 2017.
  • Orion Mall won the Images Most Admired Shopping Centre of the Year: Best Sales Per sqft.-South at the Images Shopping Centre Awards 2017.
  • Brigade has been recognised as one of the ‘Companies with Great Mangers’ in India. Two managers from Brigade were selected in the list ‘Hunt for Great Managers’- Ms. Jayashree VenkateshSr. General Manager-QS received the award in the category ‘Women Leaders’ and Mr. Manu R- Sr. DGM-Facilities received the award in the category ‘Overall’.
  • Mr. M R Jaishankar is ranked no.27th amongst the Top 100 CEO’s of India and 2nd in the Real Estate and Construction Sector by Business Today & PwC.
  • Mr. M R Jaishankar, CMD, Brigade Enterprises Ltd. was awarded the ‘Scroll of Honour’ for his contributions to the real-estate sector at 9th Realty Plus Excellence Awards (SOUTH) 2017.
  • Mr. M R Jaishankar was felicitated for being one of the top 10 visionaries from South India, who have built great consumer Brands, Retail Concepts and Shopping & Leisure Spaces at Images South India Retail Award 2017.
  • Mr. M R Jaishankar was conferred the ‘Entrepreneur Extraordinaire Award’ by Builders Association of India, Mysuru Centre.
  • Ms. Nirupa Shankar, Director of Brigade Hospitality Services Limited, won the ‘Woman CXO of the year’ award at 9th Realty Plus Excellence Awards (SOUTH) 2017.

2018-19

  • Best Thematic Decoration - ET Now Global Awards for Retail Excellence.
  • Most Admired Shopping Centre of the year - ET Now Global Awards for Retail Excellence
  • Shopping Mall of the year - 10th Annual Estate Awards.
  • Best Shopping Mall of the year - UnBox Retail.
  • Food Court of the year - Restaurant Awards 2018, South India.
  • Best Facility Management - National Energy Management Awards.
  • Most Admired Shopping Centre of the year (South) - India Shopping Centre Awards.
  • Orion Mall won the ‘Shopping Mall of the Year - South” at India Retail Award 2019 by Franchise India.
  • Nalapad Brigade Center won ‘Best Commercial Project’ South Zone by Realty Plus.
  • SEEM National Energy Management Awards 2017 - OMG won in 2018.
  • Ms. Nirupa Shankar, Executive Director, was awarded the Women Entrepreneur of the Year - Retail at the Times Power Women 2019 Awards.

2019-20

  • Brigade Enterprises Ltd has been 'Ranked 43', in the coveted Top 50 category, across companies.
  • Brigade Enterprises Ltd also has the distinction of being among India’s Top 100 Best Companies to Work For, 10 years in a row.
  • Brigade Hospitality Services Ltd. has been ranked 3rd amongst India’s Great Mid -Size Workplaces in 2020 by the Great Place to Work Institute and The Economic Times.
  • Brigade Enterprises has been ranked one among India’s 75 Best Places to Work for Women in 2019 by the Great Place to Work Institute and The Economic Times.
  • Brigade International Financial Centre in GIFT City, Gujarat received the ‘Commercial Project of the Year Award’ at the Realty Plus Awards 2019.
  • Brigade Mountain View won the award for 'Best Residential Dwellings above 50 units in Mysuru' at the CARE Awards 2019.
  • ‘India Top Challengers’ award at the CWAB Awards, 2019.
  • ‘Integrated Township Project of the Year’ award for Brigade Cornerstone Utopia at 11th Realty Plus Awards, 2019.
  • Brigade Opus won the Best Commercial Complex Award at the CARE Awards 2019.
  • Brigade Group was awarded the ‘Best Developer of the Year, South India’ at the Common Floor and India Property Realty Awards 2020.
  • ‘Best Developer of the Year’ award at the Times Business Awards 2019.
  • Mr. M R Jaishankar received the ‘Lifetime Achievement Award’ at the 11th Realty Plus Awards, 2019.
  • Brigade Panorama received the ‘Excellence in Delivery’ award at the 11th Realty Plus Awards, 2019.

Milestones

  • 1986: The launch of Brigade Towers, Bengaluru’s tallest building by a private developer.
  • 1992: Brigade Gardens, Bengaluru’s first centrally air-conditioned shopping complex project completed.
  • 1994: Brigade Residency, its first luxury apartment project in Mysuru, completed.
  • 1996: Obtained ISO 9001:1994 certification from Veritas Quality International, London.
  • 2001: Komarla Brigade Residency, an eco-friendly residential complex, handed over.
  • 2002: Brigade Millennium, an integrated lifestyle enclave in Bengaluru, completed.
  • 2007: A successful completion of Rs 650 crore IPO led to the public listing of the company’s shares.
  • 2010: World Trade Center, Bengaluru came into being as South India’s tallest building [1.1 Million Square Foot (mn. sqft.)].
  • 2011: Sheraton Hotel became operational at Brigade Gateway, Malleswaram (230 keys).
  • 2012: Orion Mall became operational at Brigade Gateway, Malleswaram (0.8 mn. sqft.).
  • 2013: World Trade Center, Bengaluru bagged the Best Commercial Complex Award (Bengaluru zone) at CREDAI Real Estate Awards Karnataka.
  • 2014: Partnered GIC, Singapore to jointly invest Rs 1,500 crore in residential projects across South India.
  • 2015: Completed Brigade Exotica-Azure, 35 floor residential tower.
  • 2016: Completion of 30 projects in the 30th year of business.
  • 2017: Brigade Pinnacle, Brigade’s first luxury residential project in Mangaluru was completed and inaugurated.
  • 2018: Successfully raised Rs 500 crore through Qualified Institutional Placement.
  • 2019: Pre-launch of “Brigade Cornerstone Utopia Phase 1”, a 47 acre mixed use township on Whitefield Sarjapur Road, Bengaluru.
  • 2019: Diversification with the launch of “BuzzWorks”, its new brand in emerging coworking segment with an initial plan of adding 2,500+ seats across Bengaluru, Kochi and GIFT City (Gujarat).
  • 2020: Brigade inaugurates St. John’s Health Centre at Brigade Meadows.
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