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    Buy Brigade Enterprises, target price Rs 595: ICICI Securities

    Synopsis

    Brigade Enterprises Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 11320.73 Crore) operating in Real Estate sector.

    buyiStock
    Promoters held 43.85 per cent stake in the company as of 30-Jun-2022, while FIIs owned 13.31 per cent, DIIs 24.7 per cent.
    ICICI Securities has buy call on Brigade Enterprises with a target price of Rs 595. The current market price of Brigade Enterprises is Rs 493.95. Time period given by analyst is one year when Brigade Enterprises Ltd. price can reach defined target.

    Brigade Enterprises Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 11320.73 Crore) operating in Real Estate sector.

    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.


    Financials
    For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 920.28 Crore, down -4.61 % from last quarter Total Income of Rs 964.72 Crore and up 135.05 % from last year same quarter Total Income of Rs 391.52 Crore. Company reported net profit after tax of Rs 60.55 Crore in latest quarter.

    Investment Rationale
    The brokerage reiterates BUY rating with a revised target price of Rs595/share (earlier Rs573) as it rolls forward to Mar’24 NAV. Key risks are prolonged weakness in office leasing and slowdown in residential demand.


    Promoter/FII Holdings
    Promoters held 43.85 per cent stake in the company as of 30-Jun-2022, while FIIs owned 13.31 per cent, DIIs 24.7 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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