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Informist, Saturday, Jun. 27, 2026

--CRISIL Ratings assigns 'A1+' rtg to Brigade Ent's short term loan facility 

MUMBAI – Crisil Ratings has assigned an "A1+" rating to the short-term loan facility of Brigade Enterprises Ltd., the lender informed the stock exchanges Friday. The rating agency also reaffirmed the "AA-" rating with "positive" outlook on the company's long-term bank facility and rupee term loan facility for enhanced credit facilities of INR 8.5 billion.

The continuation of the positive outlook reflects expected improvement in the business risk profile, driven by an on-year increase in pre-sales and collections envisaged for the financial year 2026-27 (Apr-Mar) and over the medium term, driven by healthy unsold inventory and a strong launch pipeline, the agency said in its rating rationale dated Thursday.

Low leverage in the residential and hospitality segments, strong overall liquidity, and healthy financial flexibility also factored into the reaffirmation of ratings and continuation of positive outlook. "...timely regulatory approvals in Bengaluru and achievement of planned launches, translating into improvement in pre-sales and collections in the current fiscal, will remain key rating sensitivity factors," Crisil Ratings said. 

The company's low reliance on external debt for its real estate segment has led to a healthy adequacy of committed receivables for ongoing projects at 100–110%, Crisil Ratings said. The agency expects the company's financial risk profile to remain healthy with gross debt at INR 52.31 billion as of Mar. 31. The debt profile is expected to remain stable, with 88% of the total debt secured by lease-generating assets, Crisil Ratings said.

The company's liquidity is robust with cash and cash equivalent of around INR 29 billion, Crisil Ratings said. Its liquidity is further augmented by steady cash flow from its leasing business and the ability to raise additional lease rental discounting loans, if needed. Brigade Enterprises also has a land bank with development potential of approximately 57 million square feet, the rating agency said.

"The ratings continue to reflect the strong track record of the group in the real estate market in Bengaluru, diverse revenue profile and strong financial profile with low leverage in residential and hospitality segment. Further, financial flexibility is supported by the demonstrated refinancing ability and steady progress in construction of ongoing projects," Crisil Ratings said. "These strengths are partially offset by geographical concentration in revenue and exposure to risks inherent in the real estate segment."

On a consolidated basis, Brigade Enterprises reported a net profit of INR 1.45 billion for the March quarter on revenues of INR 14.58 billion. Thursday, its shares ended at INR 525.20 apiece on the National Stock Exchange, down over 3% from Wednesday. The stock market was shut Friday for Muharram.  End

Reported by Nandini Sinha

Edited by Rajeev Pai

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