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Brigade Enterprises Limited (BRIGADE) Fair Value & Analysis

Real Estate · IN · Market cap ₹193B (≈ $2.0B) · ISIN INE791I01019

What is Brigade Enterprises Limited really worth?

BE Brigade Enterprises Limited BRIGADE · BSE
Price₹696.00
Fair Value₹335.86
Upside−51.7%
Quality32/100

Below-average quality, and trading another 107% above our fair value of ₹335.86.

As of Aug 19, 2026, the fair value of Brigade Enterprises Limited is ₹335.86 per share against a price of ₹696.00, so the fair value sits 52% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Solidly profitable · 12.5% net margin

Risks

!Expensive Growth (revenue 5y +23.8 %/yr)
!Moderate debt · negative free cash flow
!Moderate moat 45/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range ₹251.90 – ₹441.69

Fair value as of: Aug 19, 2026

From 7 valuation models · updated 18 days ago

Share price +21.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹441.69). The favourable scenario is already priced in.
  • Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

₹1,067 ₹179.76 Fair Value ₹335.86 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range ₹179.76 – ₹1,067 · fair‑value band ₹251.90 – ₹441.69 · the ₹696.00 price screens above the ₹335.86 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Brigade Enterprises Limited (BRIGADE) currently trades at ₹696.00, while our model-based Fair Value estimate is ₹335.86, implying the stock looks roughly 107.2% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of ₹335.86 per share, and 0 of the 7 models we run sit above the ₹696.00 price. Bear case: the Asset-Based group reads lowest at ₹140.10, and 7 of the 7 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Brigade Enterprises Limited generated revenue of ₹55.4B at a net margin of 12.5%. Revenue declined 8.0% year over year. It earns a return on equity of 10.8%. Net debt stands at ₹46.2B. Fundamentals as of Aug 19, 2026

Our scenario range runs from ₹251.90 (bear case) to ₹441.69 (bull case); at ₹696.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −19% fair-value upside, at −52%, BRIGADE screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ₹13.49 per share, which is 4.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence ₹181.12 ₹199.51 ₹293.24 76
EV/EBITDA ₹446.34 ₹633.76 ₹821.19 67
EV/EBIT ₹453.69 ₹643.57 ₹833.45 65
All 7 models by family
Multiples
P/S Multiple ₹251.90 ₹335.86 ₹419.83 58
P/B Multiple ₹251.90 ₹335.86 ₹419.83 55
EV/EBIT ₹453.69 ₹643.57 ₹833.45 65
EV/EBITDA ₹446.34 ₹633.76 ₹821.19 67
EV/Revenue ₹198.22 ₹332.86 ₹467.50 52
Asset-Based
NCAV (Graham) ₹104.55 ₹140.10 ₹209.11 54
Economic Profit
Residual Income best evidence ₹181.12 ₹199.51 ₹293.24 76

Widest divergence: Multiples (₹335.86) versus Asset-Based (₹140.10). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 35.2
P/S ratio 4.01 P/E × margin
EPS (TTM) ₹19.78 price ÷ EPS = P/E 35.2
Dividend yield 0.3% payout 11.2%
Net margin 11.4% FY2025
Return on equity 10.8% TTM
More key figures
Profitability
Return on assets (EBIT) 4.1% avg 5y
Operating margin 29.8% TTM
Growth
Revenue (TTM) ₹55.4B TTM
Revenue growth (YoY) −8.0% 3y avg +18.0%
EPS growth (YoY) +33.8%
Balance sheet & cash flow
Free cash flow −₹18.8B FY2025
Net debt ₹46.2B FY2025

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 32/100

Of which business quality 32 · Market factors (momentum, volatility) 64

Profitability 30
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 5
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 71
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Brigade Enterprises Limited provides real estate development, leasing, and related services in India. It operates through Real Estate, Hospitality, and Leasing segments. The company develops and sells various residential and commercial, and retail properties. It also manages hotels, state-of the-art convention centers, and recreation clubs.

Full company description

Brigade Enterprises Limited provides real estate development, leasing, and related services in India. It operates through Real Estate, Hospitality, and Leasing segments. The company develops and sells various residential and commercial, and retail properties. It also manages hotels, state-of the-art convention centers, and recreation clubs. Brigade Enterprises Limited was founded in 1986 and is based in Bengaluru, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Brigade Enterprises Limited reported revenue of ₹56.6B in FY2025 versus ₹30.0B in FY2021, a compound +17.2%/yr. Reported net income was ₹6.4B in FY2025, compounding +67.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
₹56.6B
Latest YoY
+11.5%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.0%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+23.8%
Avg. revenue growth/yr (9Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.1%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+39.8% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+39.5%
Dividend yield0.3%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 39.5% vs 10Y 11.4%, picking up
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8.1% (2020) → 19.9% (2025) · rising
Worst earnings drop119% (2020) (loss year, drop beyond 100%) · in INR
Revenue +17.2%/yr
FY21 ₹30.0B
FY22 ₹34.4B
FY23 ₹49.0B
FY24 ₹50.7B
FY25 ₹56.6B
Net income +67.0%/yr
FY21 ₹828M
FY22 ₹2.9B
FY23 ₹4.5B
FY24 ₹6.9B
FY25 ₹6.4B

BRIGADE screens 107% overvalued. Compare with Sun Hung Kai Properties Limited →

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Cite: Fair Value Calculator (2026). "Brigade Enterprises Limited Fair Value". https://www.fairvalue-calculator.com/stock/BRIGADE.BSE

Peer Group

Real Estate - Development · 566 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 34 · Bottom 25%
Fair Value upside −43% · Bottom 25%
Return on equity (TTM) 11% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 13% · Above median
Operating margin (TTM) 30% · Top 25%
Revenue growth −8% · Below median
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.77× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 35.2× · Pricier than 75% of peers
P/B 2.82× · Pricier than 75% of peers
P/S (TTM) 3.47× · Pricier than 75% of peers
EV/EBITDA 15.4× · Pricier than median
PEG 0.48× · Cheaper than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 80016 HK$109.70 HK$88.93 −19%
China Resources Land Limited 1109 HK$35.24 HK$72.16 +105%
Vinhomes Joint Stock Company VHM 71,700 VND 109,431 VND +53%
CK Asset Holdings 1113 HK$47.34 HK$68.85 +45%
Hongkong Land Holdings H78 $8.20 $1.52 −81%
DLF Limited DLF ₹667.10 ₹170.24 −74%
China Overseas Land & Investment Limited 0688 HK$13.76 HK$22.92 +67%
Macrotech Developers Limited LODHA ₹1,244 ₹583.42 −53%
Sino Land Company 0083 HK$10.33 HK$6.99 −32%
PT Pantai Indah Kapuk Dua Tbk, PANI 5,925 IDR 1,325 IDR −78%

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Frequently asked questions

Is Brigade Enterprises Limited (BRIGADE) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹335.86 versus a price of ₹696.00, about −52% upside (overvalued).
What is the fair value of BRIGADE?
Our model-based fair value for Brigade Enterprises Limited is ₹335.86 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹696.00.
What is the quality score of BRIGADE?
Brigade Enterprises Limited has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Brigade Enterprises Limited (BRIGADE)?
Our model-based price target is the fair value of ₹335.86 (as of Aug 19, 2026) from 7 valuation models. Cautious scenario ₹251.90, optimistic scenario ₹441.69. It is a calculation from audited fundamentals, not an analyst target.
What is the Brigade Enterprises Limited stock forecast for 2026?
Our models put fair value at ₹335.86, about −52% upside versus a price of ₹696.00 (overvalued). Cautious scenario ₹251.90, optimistic scenario ₹441.69. The calculation is refreshed regularly with new filings.
What is the revenue of Brigade Enterprises Limited (BRIGADE)?
Brigade Enterprises Limited reported trailing-twelve-month revenue of about ₹55.4B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of BRIGADE?
The net profit margin of Brigade Enterprises Limited is about 12.5%, meaning it keeps roughly 12.5% of revenue as net income. Based on the latest reported figures.
Does Brigade Enterprises Limited pay a dividend?
Brigade Enterprises Limited currently shows a dividend yield of about 0.32% relative to its recent price (as of Aug 19, 2026).
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