Brigade Enterprises Q2 FY27 Results: Consolidated Net Profit ₹219 Crore on Total Income of ₹1,250 Crore
Earnings
Real estate
Blacklitt Research3 min read
Retired electrician, via Wikimedia Commons (CC0). Illustrative image.
Brigade Enterprises (NSE: BRIGADE) reported consolidated total income of ₹1,249.99 crore and net profit of ₹218.82 crore for the quarter ended 30 Sep 2026, it said in a filing on 29 Oct 2026. Standalone total income was ₹600.83 crore and standalone net profit ₹114.49 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹1,249.99 crore, down 12.6% YoY and up 6.0% QoQ
Net profit: ₹218.82 crore, up 28.5% YoY and 0.9% QoQ
EPS: Basic ₹5.94, up 19.0% YoY and down 3.3% QoQ
Tax expense: ₹68.78 crore, against ₹25.27 crore a year earlier
Standalone
The company on its own, without its subsidiaries
Total income: ₹600.83 crore, down 19.1% YoY and 12.0% QoQ
Net profit: ₹114.49 crore, up 128.1% YoY and down 4.0% QoQ
EPS: Basic ₹3.66, up 136.1% YoY and 0.3% QoQ
Finance costs: ₹38.84 crore, up from ₹25.09 crore a year earlier
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,250
1,430
-12.6%
1,179
+6.0%
Revenue from operations
1,196
1,383
-13.5%
1,116
+7.2%
Other income
54
46
+15.4%
64
-15.8%
219
170
+28.5%
217
+0.9%
Profit before tax
288
196
+47.1%
285
+1.0%
Finance costs
111
102
+8.1%
109
+1.3%
Depreciation
80
76
+4.5%
73
+9.1%
Tax expense
69
25
+172.2%
68
+1.3%
Net profit margin
17.51%
11.91%
+5.60 pp
18.40%
-0.89 pp
EPS, basic (₹)
5.94
4.99
+19.0%
6.14
-3.3%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Profit before tax rose 47.1% to ₹287.60 crore, while net profit rose 28.5% to ₹218.82 crore. The gap sits in tax: consolidated tax expense was ₹68.78 crore against ₹25.27 crore a year earlier, and the tax charge is 23.9% of profit before tax this quarter.
Total income fell 12.6% while revenue from operations fell 13.5%, so the decline is in the core operating line rather than in other income, which rose 15.4% to ₹53.63 crore. Other income is 18.6% of profit before tax this quarter.
Finance costs of ₹110.53 crore are 8.9% of total income, against 8.1% growth in finance costs year on year. Depreciation rose 4.5% YoY and 9.1% QoQ to ₹79.93 crore.
Net profit attributable to owners of the holding company was ₹193.60 crore for the quarter, with ₹25.22 crore attributable to non-controlling interests.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
601
743
-19.1%
683
-12.0%
Revenue from operations
526
661
-20.3%
614
-14.3%
Other income
74
82
-9.7%
69
+8.0%
114
50
+128.1%
119
-4.0%
Profit before tax
128
67
+92.0%
144
-10.7%
Finance costs
39
25
+54.8%
37
+4.0%
Depreciation
28
21
+31.4%
24
+19.0%
Tax expense
14
17
-17.0%
24
-43.4%
Net profit margin
19.06%
6.75%
+12.30 pp
17.45%
+1.60 pp
EPS, basic (₹)
3.66
1.55
+136.1%
3.65
+0.3%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 128.1% to ₹114.49 crore even as total income fell 19.1%. Profit before tax rose 92.0% to ₹128.32 crore, and tax expense fell 17.0% to ₹13.83 crore, which is 10.8% of profit before tax.
Revenue from operations fell 20.3% to ₹526.40 crore, more than other income, which fell 9.7% to ₹74.43 crore. Other income is 58.0% of standalone profit before tax this quarter, a larger share than in the consolidated figures.
Standalone finance costs rose 54.8% to ₹38.84 crore, and depreciation rose 31.4% to ₹28.13 crore. Segment revenue was ₹408.05 crore from real estate and ₹118.35 crore from leasing.
Consolidated net profit of ₹218.82 crore is ₹104.33 crore higher than standalone net profit of ₹114.49 crore, and consolidated total income is ₹649.16 crore higher than standalone total income. The filing lists 27 subsidiaries including step-down subsidiaries and 2 joint ventures as on 30 Sep 2026.
The filing says the auditors' review reports on both sets of results are unmodified. The consolidated report draws attention to refundable deposits under litigation of ₹8.60 crore, the income tax survey and an emphasis of matter on Brigade Hotel Ventures, without modifying the conclusion.
The filing says Brigade Hotel Ventures received a property tax demand of ₹92.22 crore including interest and penalty, of which ₹46.03 crore was paid under protest and provided for; the company has litigated the matter and no adjustments have been made. The company says the Chennai project's carrying value is ₹129.00 crore and that the outcome of the Madras High Court writ petition is not likely to have a material impact.
Inference
The filing does not state the dividend record date. The filing also records the allotment of 4,000 commercial papers aggregating ₹185.31 crore with a 360-day tenure, maturing on 24 Sep 2027, and a consolidated gross debt equity ratio of 0.88 times and net ratio of 0.51 times. The filing does not give the reason for the rise in consolidated finance costs or the fall in standalone profit before tax against the year-earlier quarter, and it does not state the expected timing of the litigation outcomes.
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BRIGADEBrigade Enterprises Ltd.
