Brigade Enterprises Limited · NSE:BRIGADE
Brigade Enterprises — FY2024 Earnings Presentation
38 slides from Brigade Enterprises's earnings presentation, May 28, 2024
Slide 1: Exchange filing cover letter
Ref: BEL/NSEBSE/IP/28052024 28th May, 2024 Listing Department Department of Corporate Services – Listing National Stock Exchange of India Limited BSE Limited Exchange Plaza, P. J. Towers Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 Re.: Scrip Symbol: BRIGADE/S
Slide 2: Investor Presentation – FY 24
Investor Presentation – FY 24 (CIN: L85110KA1995PLC019126)
Slide 3: Multiple Domains; Single-Minded Commitment
Offices Retail Clubs Multiple Domains; Hotels Convention Single-Minded Centres Commitment Established in 1986, one of India’s leading and trusted property developers A multi-asset class developer with Residential, Office, SEZ, Retail, Hospitality, Senior Living, Schools and India’s first Real Estate
Slide 4: Transforming City Skylines
Transforming City Skylines 280+ buildings 86+ Mn sq.ft. Delivered 22 Million sq.ft. Ongoing projects GIFT city 16 Million sq.ft. Upcoming launches License owners for six World Trade Centers in South India hyderabad bengaluru Among the Top 10 listed Developers in the country, by market capitalization
Slide 5: Our Mission, Vision, Values
Our Mission, Vision, Values Our SHARED VISION Our To be a World-class Organisation in our SHARED MISSION Products, Processes, People and Performance. To constantly endeavour to be the Preferred Developer of Residential, Commercial & Hospitality spaces in the markets in which we operate, without comp
Slide 6: Segment Highlights - FY 24
Segment Highlights - FY 24 9% Real Estate - On Sale Basis Achieved Pre-sales of INR 60,125 Mn in FY 24 and INR 22,430 Mn in Q4 FY 24 – the highest ever for the quarter and the financial year Sale volume of 7.55 Mn sft in FY 24 and 2.72 Mn sft in Q4 FY 24 19% Average realization stood at INR 7,968/sf
Slide 7: ESG Updates - FY 24
ESG Updates - FY 24 “Carbon abatement/ NetZero” strategies: Integration of ESG elements into our “Supply Chain Management” Sourcing of tech-platform for monitoring Discussion on carbon abatement strategy along with supplier catergorization & criticality assessment of key and measuring of ESG progres
Slide 8: Summary: Ongoing Projects
Summary: Ongoing Projects total project area 4% 1% Area in Mn sft Projects Project Area Co Share LO/JV Share Real Estate Real Estate projects for sale 10.95 7.25 3.70 21.96 Mn sq.ft Lease Rentals Brigade El Dorado* 5.14 5.14 - 95% Hospitality Brigade Cornerstone Utopia* 2.54 1.69 0.85 Brigade Orchar
Slide 9: Contents
Contents 1. Continued robust performance in Real Estate segment 2. Expansion-driven demand fuelled the growth of Leasing segment 3. Poised to witness sustained growth in Hospitality segment 4. Financial Performance 5. Land Bank 6. Projects launched and upcoming launches 8
Slide 10: Highlights: Real Estate - Q4 FY 24
Real Estate Highlights: Real Estate - Q4 FY 24 Continued bull run in the Indian residential market witnessing sales at an all time high Pre-sales volume was ~2.72 Mn sft in Q4 FY 24 (including landowner’s space share of 0.11 Mn sft), a growth of 61% over Q3 FY 24 60,125 Sales value of INR 22,430 Mn
Slide 11: Group Sales Snapshot
Real Estate Group Sales Snapshot Q4 FY24 on Particulars FY24* FY23 Q4 FY24 Q3 FY24 Q4 FY23 Q3 FY24 Net Area Sales (’000 sft) Residential* 7,356 6,075 2,608 1,646 58% 2,333 Commercial 190 254 113 49 131% 35 Total 7,546 6,329 2,721 1,695 61% 2,368 Net Sale Value (INR Mn) Residential* 58,468 39,082 21,
Slide 12: Consolidated Synopsis of Real Estate Projects
Real Estate Consolidated Synopsis of Real Estate Projects Ongoing BEL Ongoing SPV Particulars Stock Sales Total Projects Projects* In Mn sft BEL SPV* Total super built-up area of launched projects on sale basis 19.18 1.70 0.89 0.37 22.14 Less: Landowner share 4.58 - - - 4.58 Company share of saleabl
Slide 13: Contents
Contents 1. Continued robust performance in Real Estate segment 2. Expansion-driven demand fuelled the growth of Leasing segment 3. Poised to witness sustained growth in Hospitality segment 4. Financial Performance 5. Land Bank 6. Projects launched and upcoming launches 12
Slide 14: Our Leasing Portfolio: Operating Assets
Leasing Our Leasing Portfolio: Operating Assets Area in Mn sft Leased Retail 1.25 0.06 Hard Options 0.16 Office 6.99 0.22 To be Transacted Particulars Leasable Area Leased Hard Option To be Transacted Brigade Tech Gardens* 3.00 2.84 0.16 - WTC Chennai* 2.01 1.82 - 0.19 WTC Bengaluru 0.62 0.62 - - Br
Slide 15: Capex Commitment
Capex Commitment (INR Mn) Project Segment Estimated Cost Incurred Balance* Brigade Twin Towers** Leasing 3,597 2,456 1,141 Brigade Square, Trivandrum Leasing 756 217 539 IBIS Styles, Mysuru Hospitality 900 641 259 Total 5,253 3,314 1,939 *As of Mar 31, 2024 ** Tower B consisting of 0.55 Mn sft remov
Slide 16: Contents
Contents 1. Continued robust performance in Real Estate segment 2. Expansion-driven demand fuelled the growth of Leasing segment 3. Poised to witness sustained growth in Hospitality segment 4. Financial Performance 5. Land Bank 6. Projects launched and upcoming launches 15
Slide 17: Poised to witness sustained growth in hospitality segment
Hospitality Poised to witness sustained growth in hospitality segment Clocked revenue of INR 4,641 Mn during FY 24, an increase of 18% over FY 23 The accessibility gap for air travellers in India has reduced, with expanded capacities in existing airports, leading to increased room demand reflected i
Slide 18: Contents
Contents 1. Continued robust performance in Real Estate segment 2. Expansion-driven demand fuelled the growth of Leasing segment 3. Poised to witness sustained growth in Hospitality segment 4. Financial Performance 5. Land Bank 6. Projects launched and upcoming launches 17
Slide 19: Consolidated Financials: Snapshot
Consolidated Financials: Snapshot (INR Mn) Q4 FY24 Q4 FY24 FY 24 Particulars Q4 FY24 Q3 FY24 Q4 FY23 FY 24 FY 23 on Q3 FY24 on Q4 FY23 on FY23 Revenue 17,626 12,082 8,721 46% 102% 50,641 35,632 42% EBITDA 4,930 2,964 2,315 66% 113% 13,618 9,776 39% Finance cost 1,380 1,350 1,000 2% 38% 4,910 4,341 1
Slide 20: Business Segment Performance - FY 24
Business Segment Performance - FY 24 (INR Mn) Particulars Real Estate Lease Rental Hospitality Total Revenue 36,623 9,377 4,641 50,641 as % of Total 72% 19% 9% 100% Direct Expenses 27,592 98 524 28,214 Admin Expenses 1,382 1,485 1,318 4,185 Selling cost 840 404 204 1,448 Employee cost 1,711 554 911
Slide 21: Consolidated Cash Flows
Consolidated Cash Flows Particulars (All amounts in INR Mn) Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24 FY24 FY23 Operating Activities Total Collections 18,375 13,944 14,393 12,439 59,151 54,238 Direct Cost/ Construction Cost (6,866) (6,038) (5,401) (5,675) (23,980) (23,762) Landowner Payments (2,330) (2,181) (
Slide 22: Capital Allocation: Segment-wise - FY 24
Capital Allocation: Segment-wise - FY 24 capital employed (INR Mn) Operating 34% Capital Capital Segment Equity (A) Debt (B) Employed D/E Ratio PBD*/ EBITDA/ (A/B) Equity % Employed OCE % (A+B) (OCE) Real Estate 28,342 1,650 29,992 0.06 16% 29,992 17% Hospitality 3,601 4,774 8,375 1.33 31% 7,657 22%
Slide 23: Consolidated Debt Profile
Consolidated Debt Profile (INR Mn) Segment Wise - Gross Debt Split Particulars Mar-24 Dec-23 Mar-23 Real Estate 1,650 109 465 9% 4% 1% Hospitality 4,774 4,923 5,468 4% GOP Securitized 4,415 4,543 4,985 Capex 359 380 483 Leasing 40,205 38,339 32,363 GROSS DEBT - 46,629 MN Securitized Lease Rental 38,
Slide 24: Standalone Financial: Snapshot
Standalone Financial: Snapshot (INR Mn) Q4 FY 24 Q4 FY 24 FY 24 Particulars Q4 FY 24 Q3 FY 24 Q4 FY 23 FY 24 FY 23 on Q3 FY 24 on Q4 FY 23 on FY 23 Turnover 9,181 4,508 5,744 104% 60% 22,240 24,245 (8%) EBITDA 2,771 1,244 1,798 123% 54% 6,516 6,798 (4%) Finance cost 414 384 341 8% 21% 1,441 1,344 7%
Slide 25: Contents
Contents 1. Continued robust performance in Real Estate segment 2. Expansion-driven demand fuelled the growth of Leasing segment 3. Poised to witness sustained growth in Hospitality segment 4. Financial Performance 5. Land Bank 6. Projects launched and upcoming launches 24
Slide 26: Brigade's Land Bank
Brigade’s Land Bank Land Area (in acres) as on 31st mar 24 2 20 15 10 130 Bangalore Total Area - 519 acres gift city Chennai 342 Hyderabad Mysuru hyderabad Gujarat bengaluru Kochi CHENNAI Total Land Area Cost of Land Amount Paid Balance Payable (Acres) (INR Mn) (INR Mn) (INR Mn) kochi 519 33,432 23,
Slide 27: Developable Area Details
Developable Area Details Project Area: Product Mix 2% 3% 2% 2% Product Land Area Project Area (Mn sft) BEL Share (Mn sft) Residential 284 41 31 18% Plotted Development 77 2 1 Commercial-Lease 70 10 9 Commercial-Sale 7 1 1 Mixed Development 44 1 1 project area - 56 Mn sft Hospitality 37 1 1 Total 519
Slide 28: Contents
Contents 1. Continued robust performance in Real Estate segment 2. Expansion-driven demand fuelled the growth of Leasing segment 3. Poised to witness sustained growth in Hospitality segment 4. Financial Performance 5. Land Bank 6. Projects launched and upcoming launches 27
Slide 29: Projects Launched - FY 24
Projects Launched - FY 24 Project Area BEL Interest Launch Project Segment (Mn sft) (Mn sft) Quarter Brigade Padmini Tech Valley – Tower C Commercial 0.26 0.13 Q1 Brigade El Dorado – Aurum Residential 0.59 0.59 Q2 Brigade Calista – Phase 2 Residential 0.70 0.56 Brigade Millennium Annexe Residential
Slide 30: Upcoming Projects
Upcoming Projects Segment Total Area Brigade Economic Interest (Mn sft) (Mn sft) Residential 12.61 10.77 Commercial 2.98 1.96 Hotels 0.50 0.42 Total 16.09 13.15 Brigade Padmini Tech Valley Brigade Valencia Artist’s impression Artist’s impression 29
Slide 31: Awards and Accolades – Q4 FY 24
Awards and Accolades – Q4 FY 24 WTC Chennai won the award for Environmental, Social WTC Kochi won the award for Return to Office. Regional Member of the Year (Asia Pacific) and Governance (ESG) at the INFHRA Awards 2024. It also secured Silver in Safety and Security at WTC Bengaluru won the award fo
Slide 32: Shareholding Pattern – 31 Mar 2024
17% 44% Shareholding Pattern – 31 Mar 2024 st 24% 15% Promoter Group FIIs and FPIs DIIs Others 31
Slide 33: Board of Directors
Board of Directors M R Jaishankar Aroon Raman Pavitra Shankar Nirupa Shankar Amar Mysore Roshin Mathew Executive Chairman Vice Chairman Managing Director Jt. Managing Director Executive Director Executive Director (Independent Director) • Masters in Business Administration • MBA from Wharton School,
Slide 34: Board of Directors
Board of Directors Pradyumna Lakshmi Pradeep Kumar Dr. Venkatesh Bijou Kurien V V Ranganathan Krishnakumar Venkatachalam Panja Panchapagesan Independent Director Independent Director Executive Director Independent Director Independent Director Independent Director • MBA, Finance & General • MBA from
Slide 35: Ongoing Residential Projects
Ongoing Residential Projects Brigade Laguna Brigade Horizon Artist’s impression Artist’s impression 34
Slide 36: Completed Residential Projects
Completed Residential Projects Residences at Brigade Tech Gardens Brigade Cornerstone Utopia Actual shot Actual shot 35
Slide 37: Completed Commercial Projects
Completed Commercial Projects Arcade at Brigade Orchards Brigade Tech Gardens Brigade Deccan Heights Actual shot Actual shot Actual shot 36
Slide 38: Thank you
Thank you Disclaimer: The information in this presentation contains certain forward-looking statements. These include statements regarding outlook on future development schedules, business plans and expectations of Capital expenditures. These statements are based on current expectations that involve