Motilal Oswal: Buy Brigade Enterprises, Target Rs 1338 for 52% Upside

• Motilal Oswal recommends 'Buy' for Brigade Enterprises (BRGD) with a revised target price of INR 1,338/share, implying a 52% upside.
• BRGD posted a 30% CAGR in presales over FY21-25 and expects 19% growth during FY25-28, driven by strong launch pipeline and expansion in Hyderabad and Chennai.
• Collections are projected to reach INR 123 billion by FY28 (32% CAGR FY25-28), leading to a cumulative operating cash flow of INR 151 billion.
• Rental income is set to grow by 7% CAGR (FY25-28) due to commissioning of new rental assets across geographies.
• The hospitality portfolio is expected to expand to 3,300 keys by FY30, ensuring strong growth visibility for the company.

Why It Matters: Motilal Oswal recommends buying Brigade Enterprises for a 52% upside, targeting Rs 1338.