Buy Brigade Enterprises, target price Rs 619: HDFC Securities

HDFC Securities has buy call on Brigade Enterprises Ltd. with a target price of Rs 619. The current market price of Brigade Enterprises is Rs 572.8.

Brigade Enterprises, incorporated in the year 1995, is a mid cap company (having a market cap of Rs 13188.31 Crore) operating in real estate sector.

Its key products/revenue segments include income From real estate development, lease rentals, other services, other operating revenue for the year ended March 31, 2022.


Financials
For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 920.28 crore, down 4.61 per cent from last quarter total income of Rs 964.72 crore and up 135.05 per cent from last year same quarter total income of Rs 391.52 crore. Company has reported net profit after tax of Rs 60.55 crore in latest quarter.

The company’s top management includes Mr.M R Jaishankar, Dr.Venkatesh Panchapagesan, Ms.Lakshmi Venkatachalam, Mr.Bijou Kurien, Mr.Aroon Raman, Mr.Roshin Mathew, Mr.Amar Mysore, Ms.Pavitra Shankar, Ms.Nirupa Shankar, Mr.Pradeep Kumar Panja. Company has S R Batliboi & Associates LLP as its auditors. As on June 30, 2022, the company has a total of 23 crore shares outstanding.

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