Whalesbook
FY26 Mein Thoda Slowdown, Par Reason Clear Hai
Asal mein, Brigade Enterprises ki FY26 sales bookings mein 5% ki girawat aayi hai, jo ki ₹74 billion thi. Iska main reason hai projects ke approvals mein ho rahi delays. Company bol rahi hai ki ye temporary issue hai aur fundamental change nahi aaya hai.
FY27 Ka Plan Bada Hai Boss!
FY26 ka full year Net Profit ₹724.76 crore raha, jo 37% bada hai. Total income bhi 11.21% badhkar ₹5,909.01 crore ho gayi. Lekin Q4 FY26 mein profit 41% gir gaya tha, jo ₹145.5 crore tha. Iske bawajood, company ne FY27 ke liye ₹90 billion ki sales bookings ka target rakha hai, matlab 20% ka expected growth! Analysts bhi ummeed kar rahe hain ki FY27 aur FY28 mein ye bookings ₹96 billion aur ₹113 billion tak ja sakti hain.
Hotel Aur Leasing Business Pe Focus
Sirf residential sales nahi, Brigade Enterprises apne hotel aur annuity asset business ko bhi double karne ka plan kar rahi hai FY30 tak. Unka target hai 1,700 aur hotel rooms add karna aur 10 million square feet tak ke assets banana jo regular income de sakein. Leasing business ki revenue 12% badhkar ₹1,303 crore ho gayi aur hospitality segment ki revenue bhi 13% badhkar ₹604 crore rahi FY26 mein.
Analyst Kya Bol Rahe Hain?
Market mein competitors jaise DLF, Godrej Properties ke comparison mein Brigade Enterprises ka valuation theek-thaak lag raha hai. Agarche stock ne pichle ek saal mein sector ke muqable 37.75% underperform kiya hai, analysts abhi bhi positive hain. Bahut se analysts ne 'BUY' rating di hai aur price targets ₹1,000 se ₹1,133 tak set kiye hain.
Risk Bhi Hai, Bhai!
Par sab kuch achha hi nahi hai. Project approvals mein deri ek bada concern hai, jisse Q4 mein profit 41% gir gaya. Profit margins bhi thode narrow hue hain. High interest costs bhi pressure bana rahe hain. Stock ka underperformance bhi dikhata hai ki kuch underlying issues ho sakte hain. Debt-to-EBITDA ratio pe bhi nazar rakhni hogi.
Future Outlook
Company apne existing projects aur hotel/annuity assets ke through growth karne wali hai. Wo 9-10 million square feet residential sales ka target rakhe hue hain FY27 ke liye. Approval process ko manage karna aur costs control karna bahut important hoga company ke liye. Board ne bonus share issue aur dividend bhi announce kiya hai, jo future ke liye confidence dikhata hai.