ICICI Direct has given Buy recommendation for Brigade Enterprises with a target price of Rs. 550 in its research report issued on May 15, 2022

ICICI Direct’s research report on Brigade Enterprises

Brigade Enterprises (BEL) is one of the leading property developers in South India. Its offerings include Grade-A commercial property, affordable to ultra-premium housing in real estate business and operational marquee hotel assets in hospitality segment.

Outlook

We maintain our BUY rating on the company. Apart from robust residential sales volumes traction (led by strong end user demand in its key markets), we expect a recovery in commercial to drive overall traction. We value BEL at Rs 550/share.

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