Models
BRIGADE HOTEL VENTURE LTDBRIGHOTELLeisure Services
₹26per share · Base Model Note
Revenue growth, the horizon and scenarios are yours to change. Every other input is part of the Trader plan; saving, sharing a saved link and the live-formula workbook are part of the Institutional plan.
Scenario
Value per share, your model₹26implied FY26 P/E 12.6× · EV/EBITDA 6.3×
Against CMP ₹56.56−54.9%close of 2026-09-10
Growth the CMP implies23.5%revenue, a year for 5 years, on your other inputs
Value after FY31110%share of enterprise value in the terminal
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Where the methods land · ₹ per share · the dashed line is the CMP
DCF, rate ±1 · growth ±1your model across the sensitivity grid
₹16₹44
52-week rangetraded range, a fact not a value
₹54₹88
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (106) |
| PV of terminal value | 1,194 |
| Enterprise value | 1,087 |
| less net debt | (118) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 969 |
| ÷ 37.98 crore shares | ₹26 |
110% of the value sits after FY31. Usual when return on capital sits near the cost of capital; the 5 explicit years carry little of it.
Free cash flow, filed and modelled · ₹ '000 crore
Filed, cash from operations − capexModelled free cash flow to firm
Sensitivity · ₹ per share
Down Across| WACC ↓terminal growth → | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
|---|---|---|---|---|---|
| 10.00% | 27 | 30 | 34 | 38 | 44 |
| 10.50% | 24 | 26 | 29 | 33 | 37 |
| 11.00% | 21 | 23 | 26 | 29 | 32 |
| 11.50% | 18 | 20 | 22 | 25 | 28 |
| 12.00% | 16 | 18 | 20 | 22 | 24 |
The outlined cell is your model. Green figures sit above the CMP of ₹56.56; n/a marks a terminal growth at or above the discount rate. Steps: WACC and terminal growth ±0.5 point, growth ±2, margin ±1.
Distribution of outcomes · 4,000 draws · growth, margin and the discount rate vary together
| 10th · 50th · 90th percentile, ₹ per share | 17 · 25 · 35 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.75 |
| Rank correlation with discount rate | −0.53 |
| Rank correlation with revenue growth | +0.30 |
Each driver is drawn from a PERT distribution between the lowest and highest value across your scenarios (or ±50% growth, ±20% margin when there is one scenario), with the discount rate ±1.5 points. Seeded, so the same inputs give the same picture.
Projected cash flow to the firm · ₹ crore
History Forward| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Revenue | 525 | 567 | 612 | 661 | 714 | 771 |
| growth % | — | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 |
| EBITDA | 174 | 188 | 203 | 219 | 236 | 255 |
| margin % | 33.1 | 33.1 | 33.1 | 33.1 | 33.1 | 33.1 |
| less depreciation | (54) | (59) | (64) | (69) | (74) | (80) |
| EBIT | 120 | 129 | 139 | 150 | 162 | 175 |
| less tax on EBIT | (30) | (32) | (35) | (38) | (41) | (44) |
| NOPAT | 89 | 96 | 104 | 112 | 121 | 131 |
| add depreciation | 54 | 59 | 64 | 69 | 74 | 80 |
| less capex | (260) | (281) | (247) | (205) | (155) | (96) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 |
| Free cash flow to firm | — | (126) | (79) | (24) | 40 | 115 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |
| Present value | (120) | (68) | (19) | 28 | 72 |
History columns are the filed years (free cash flow there is cash from operations − capex, as filed); the base year and everything to its right come from the engine. Forward is the explicit horizon of the model itself: 3, 5 or 10 years, then flat.
The three statements, projected · ₹ crore · debt held at 140, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 120 | 129 | 139 | 150 | 162 | 175 |
| Interest at 8% on debt | (11) | (11) | (11) | (11) | (11) | |
| Profit before tax | 117 | 128 | 139 | 151 | 164 | |
| Profit after tax | 58 | 88 | 96 | 104 | 113 | 123 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 22 | (112) | (200) | (232) | (201) | (94) |
| Working capital | (12) | (12) | (12) | (12) | (12) | (12) |
| Net block and other assets | 1,372 | 1,595 | 1,778 | 1,914 | 1,995 | 2,011 |
| Debt | 140 | 140 | 140 | 140 | 140 | 140 |
| Equity | 981 | 1,069 | 1,164 | 1,268 | 1,381 | 1,503 |
| Balance check | 0 | 0 | 0 | 0 | (0) | 0 |
| Cash flow | ||||||
| From operations | 147 | 159 | 173 | 187 | 203 | |
| Investing (capex) | (281) | (247) | (205) | (155) | (96) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (134) | (88) | (33) | 32 | 107 | |
| Free cash flow to equity | (134) | (88) | (33) | 32 | 107 | |
Other liabilities are held at their FY26 level, so the check tests only what the model moves: cash, working capital, net block and other assets, debt and equity. A non-zero check would mean the three statements no longer tie.
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | DCF | 8% | 33.1% | 11.00% | 5% | ₹26 | (54.9)% |
A scenario is a full set of inputs under a name. Keep Base as the filed history carried forward; add Bull and Bear by saving the current inputs under those names and moving the two or three assumptions you actually hold a view on. The distribution above draws each driver between the lowest and highest value across your scenarios, so three scenarios give it a real range; with one scenario it falls back to fixed bands.