Brigade Enterprises Q3 Results: Revenue up as leasing, hospitality stay firm; margin slips

Brigade Enterprises Ltd reported a 21% year-on-year decline in net profit for the December quarter at ₹186.5 crore, compared with ₹236.2 crore in the year-ago period, as margin contracted despite higher revenue.

Revenue from operations rose 7.6% year-on-year to ₹1,575 crore, up from ₹1,464 crore in the corresponding quarter last year.

Operating performance remained largely flat, with EBITDA slipping marginally by 0.7% to ₹411 crore. The EBITDA margin declined to 26.10% from 28.30% a year earlier.

On

the operational front, the company reported pre-sales of ₹1,750 crore during Q3 FY26, with a sales volume of 1.33 million square feet. Average realisation stood at ₹13,142 per square foot, marking a 16% increase over the year-ago quarter. During the period, Brigade launched Brigade Gateway in Hyderabad Phase 2, with an area of 1.19 million square feet.

The leasing portfolio continued to show stable performance, with occupancy levels at 93%. Leasing revenue stood at ₹325 crore in Q3 FY26, reflecting a 16% year-on-year growth. Retail sales rose 5% year-on-year, supported by strong performance in cinemas, end-of-season sales and festive demand.

Hospitality also posted a steady showing. Brigade Hotels reported revenue of ₹165 crore during the quarter, with EBITDA of ₹58 crore. Portfolio average room rates rose to ₹8,752, up 17% year-on-year, while occupancy stood at 76% in Q3 FY26.

Collections during the quarter came in at ₹1,760 crore. In terms of revenue mix, real estate accounted for around 70% of total revenue, followed by lease rentals at 20% and hospitality at 10%.

Post the earnings announcement, shares of Brigade Enterprises Ltd were trading at ₹748 on the NSE at 2:40 pm, up 1.84%.