ICICI Securities is bullish on Brigade Enterprises recommended buy rating on the stock with a target price of Rs 695 in its research report dated September 26, 2023.

Brigade Enterprises Ltd. key Products/Revenue Segments include Income From Real Estate Development, Lease Rentals, Other Services, Other Operating Revenue for the year ending 31-Mar-2022.

Even though the benchmarks Nifty 50 and Sensex scaled all-time highs, the broader market left Dalal Street investors eyeballs rolling, as the S&P BSE Smallcap index rallied 38% since April.

The company will be developing a residential project on the land parcel with an overall development of nearly one million square feet with an overall revenue potential of around Rs 800 crore.

“We are one of the zero debt companies in real estate that has commercial as well as residential sales. We continue to have zero debt because sales are good, working capital cycles are good. Whatever debt is there, is in LRD, which is Rs 3,200 crore and some in hospitality.”

ICICI Direct is bullish on Brigade Enterprises recommended buy rating on the stock with a target price of Rs 745 in its research report dated August 31, 2023.

Brigade Enterprises, incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 14511.08 Crore) operating in Real Estate sector.

In a recent purchase, the company bought a piece of land in Neopolis, Kokapet, Hyderabad for Rs 660 crore for a 9.7-acre plot, which translates to around Rs 68 crore per acre. The company will primarily build residential properties on this expanse of land spanning one million square feet.

In a regulatory filing on Tuesday, Brigade Enterprises said "6.54 acres of land parcel...was acquired from Pfizer Healthcare India Pvt Ltd for an overall consideration of Rs 138.83." "We will be developing a residential project on this land parcel with an overall development of over one million square foot," it added.

The 6.54 acres land parcel is located at Rajiv Gandhi Salai (Old Mahabalipuram Road), Sholinganallur, Chennai and will be used for a residential project.

Top ten Indian real estate firms by market capitalisation have given 9 -45 percent in the last year, indicating that unlike the US, there is optimism in Indian realty market

ICICI Direct is bullish on Brigade Enterprises recommended buy rating on the stock with a target price of Rs 695 in its research report dated August 10, 2023.

HDFC Securities is bullish on Brigade Enterprises has recommended buy rating on the stock with a target price of Rs 739 in its research report dated August 09, 2023.

Motilal Oswal is bullish on Brigade Enterprises recommended buy rating on the stock with a target price of Rs 720 in its research report dated August 09, 2023.

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The real-estate company's revenue also fell 21 percent year-on-year to Rs 685 crore in Q1FY24. Meanwhile, its net sales from residential projects rose 33 percent YoY to Rs 991 crore in the same period.

Several Indian companies will trade ex-dividend this week, including L&T, Crisil, Coforge, Maruti Suzuki, and Kotak Mahindra Bank. Ex-dividend is when the equity-share price of a company is adjusted for the dividend payout, occurring one or two working days before the record date. The record date lists all shareholders that will qualify for dividends by the record's end.

Major real estate developers in India have seen their liquidity and credit profiles improve despite the Covid-19 pandemic, thanks to strong sales momentum in the housing market. Collections and realizations have climbed for major developers across India's top property markets, giving them added strength in leveraging their credit profiles. Companies like DLF, Godrej Properties and Oberoi Realty have seen their gross debts decline by over 42% since the pandemic began in 2019.

Motilal Oswal is bullish on Brigade Enterprises recommended buy rating on the stock with a target price of Rs 720 in its research report dated July 20, 2023.

The Relative Strength Index (RSI) is a technical indicator that measures recent price changes in a stock, helping investors analyze stock movements to make informed investment decisions. A reading above 70 indicates overbought conditions, and below 30 suggests oversold conditions.

​Ideally, you should look at cash flows because they give you a better idea about the current financial performance of these companies. So when you look at the cash flow metrics, most of these stocks are currently trading on par with their NAV, which is, you would consider fair considering that the housing cycle is in an upturn and most of these companies are reporting very strong operating numbers.