JM Financial initiates coverage on India's Brigade Enterprises with 'buy'

Brigade Enterprises

22/12/2025 07:44

** JM Financial starts coverage on real estate developer Brigade Enterprises BRIG.NS with "buy" rating; PT at 1,020 rupees

** BRIG nearly flat at 868 rupees

** Brokerage says strong project pipeline to drive 14% CAGR in bookings over FY25-28E

** Says co well placed to further penetrate its focused markets, fund next leg of growth in annuity and hotels businesses

** Notes co continues to do exceedingly well in pre-sales and business development

** Adds co has witnessed sharp scale up in pre-sales as it benefitted from premiumisation

** BRIG rated "buy" on avg by 12 analysts; median PT at 1,305 rupees - data compiled by LSEG

** YTD, BRIG down 30%

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))