Brigade Enterprises Limited

Pavitra ShankarManaging Director of Brigade

Good afternoon, everyone, and thank you for joining us for Brigade Enterprises Limited's Q1 FY27 Earnings Call. I'm joined by the management of Brigade Group, our Executive Chairman, Mr. M.R. Jaishankar; Joint Managing Director, Ms. Nirupa Shankar; Executive Directors, Mr. Roshin Mathew; Mr. Amar Mysore; and Mr. Pradyumna Krishna Kumar; and our CFO, Mr. Yogesh Patel.

In Real Estate, Q1 FY27 saw consistent performance coming off a launch-led Q4 FY26. Although we did not have new launches in Q1, we remain on track for our FY27 guidance, supported by a strong launch pipeline over the coming quarters as well as contribution from our sustenance sales. Pan-India, residential sales were down 6% year-on-year in the same April to June window as per Anarock, with Bengaluru and Hyderabad among the only major cities to hold sales growth in the quarter, a favorable backdrop for Brigade given both our core markets. For Brigade, Q1 FY27 net sales were INR1,061 crores, 5% lower against Q1 FY26. Our realization though increased to INR14,256 per square foot, a strong 21% year-over-year improvement, driven by disciplined pricing increases in our existing projects and a positive shift in our product mix towards higher-value homes.