Brigade to Continue Project Launches in FY27, Shift Focus Towards Mid-Segment Housing: Managing Director

New Delhi, May 7: Brigade Enterprises will continue launching projects from its existing pipeline in FY27 despite approval delays, geopolitical uncertainty and concerns over technology-sector hiring. The developer is also looking to increase focus on mid-segment housing while continuing land acquisition in Bengaluru, Chennai and Hyderabad.

FY26 Performance and FY27 Targets

The company reported real estate pre-sales of ₹7,424 crore in FY26 with sales of 6.13 million sq ft. Residential approvals for several large projects were delayed, impacting the timing of launches. The company is targeting about 9-10 million sq ft of residential sales in FY27 to maintain its longer-term growth trajectory, though customer sentiment and timely approvals will remain key factors.

Shift Towards Mid-Segment Housing

"In the last few years, there was more high-end inventory because demand supported it. We are now skewing back towards the mid-segment. Buyers have become more sensitive to ticket size, so we are designing projects around achievable price points rather than only apartment sizes," Shankar said. The company currently does not have anything in the pipeline in the very high-end ₹5 crore-plus category.

Land Acquisition and Margin Outlook

Brigade will not pause land acquisitions. "In uncertain periods, fewer players may be looking for land, and that can create opportunities for companies with balance-sheet strength," Shankar said. Regarding margins, projects launched in the current environment may not see the same margin levels, though FY27 margins will largely reflect projects launched and sold three-four years ago where costs and selling prices are already locked in.

Focus on Existing Markets

The company has no plans to enter new cities such as NCR or Pune at this point. "Our focus is on Bengaluru, Chennai and Hyderabad. In Bengaluru, we already have a large market share, while in Chennai and Hyderabad we still have room to grow," Shankar said. The company is targeting annual launches of around 10-12 million sq ft, with FY27 numbers potentially higher if sales velocity is lower.