Brigade Enterprises Limited · NSE:BRIGADE
Brigade Enterprises — Q3 FY2013 Earnings Presentation
30 slides from Brigade Enterprises's earnings presentation, December 2012
Slide 1: Dec 2012
Dec 2012
Slide 2: Turnover, EBIDTA, Interest
YTD Q3 YTD Q3 YTD Q3 Q3 -13 Q2-13 Q3 13 on Q3 13 on 13 on Particulars Q3-12 13 12 Oct-Dec July-Sept Q2 13 Q3 12 YTD Q3 9 Mts 9 Mts 12 Rs. Mn Rs. Mn Rs. Mn Rs. Mn Rs. Mn Turnover 1,591 1,885 -16% 1,252 27% 4,887 4,757 3% EBIDTA 487 502 -3% 405 20% 1,431 1,375 4% Interest 211 222 -5% 177 20% 634 445 4
Slide 3: For 9 months ended Dec 2012
For 9 months ended Dec 2012 Rs. in Million Particulars Real Estate Hospitality Lease Total rentals Revenue 3,451 755 682 4,887 Expenses 2,339 207 - 2,546 Gross profit 1,112 547 682 2,341 Admin Expenses 254 136 80 469 Employee cost 268 150 23 441 EBIDTA 590 261 579 1,431 Interest 115 192 326 634 Prof
Slide 4: As on Dec 2012
As on Dec 2012 Rs. in Million CAPITAL D/E PBD/Eq EBIDTA/ SEGMENT EQUITY DEBT EMPLOYED Ratio % CE % Real Estate 6,654 3,405 10,059 0.51 9.52% 7.82% Hospitality 1,480 1,720 3,199 1.16 6.22% 10.89% Lease Rental 3,887 3,688 7,576 0.95 8.68% 10.20% Total 12,021 8,813 20,834 0.73 8.84% 9.16% Less: Cash Ba
Slide 5: Movement of Loan
Rs. in Million Qtr Qtr Qtr Qtr Qtr Movement of Loan ended ended ended ended ended Dec 11 March 12 June 12 Sept 12 Dec 12 Opening Balance 8,012 8,537 8,508 9,226 9,168 Availed during the Qtr 1,494 675 1,399 1,805 425 Repaid during the Qtr 968 705 682 1,862 780 Closing Balance 8,537 8,508 9,226 9,168
Slide 6: Debt and interest rate
9,400 14.00% 13.86% 9,226 9,200 9,168 13.80% 9,000 13.60% 13.55% 8,813 8,800 13.40% 13.31% 8,600 8,537 8,508 13.20% 13.11% 13.06% 8,400 13.00% 8,200 12.80% 8,000 12.60% Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Debt Int Rate
Slide 7: Sales volume and value
===SFT in 1000===== ==Sale Value Rs. Mn Type Q1 Q2 Q3 Q1 Q2 Q3 Residential 300 271 297 1,089 1,002 1,153 Commercial 151 79 125 924 376 554 Total 451 350 422 2,013 1,378 1,706 Location wise Bangalore 433 327 372 1,961 1,299 1,521 Mysore 18 23 7 51 80 22 Mangalore 43 164 Total 451 350 422 2,013 1,
Slide 8: Grand Mercure and Sheraton hotel performance
GRAND MERCURE SHERATON FOR THE FOR THE APRIL TO DEC APRIL TO DEC YEAR YEAR Details 2011-12 (11 2012 2011 2011-12 2012 2011 (8 Mts) Mts) No of Keys 126 126 126 230 200 230 Occupancy 83% 85% 84% 59% 52% 58% ARR 6582 6534 6616 7090 6841 7073 GOP 50.6% 47.4% 47.8% 32.1% 20.4% 25.5%
Slide 9: Leasable area and leased out
Area in Mn SFT To be Leasable Area Leased out In pipe Line Leased WTC 0. 54 0.20 0.32 0.02 South Parade 0.11 0.11 Orion Mall 0.82 0.75 0.07 Summit 0.02 0.02 B.Solitare, B.lore 0.01 0.01 Others 0.01 0.01 Total 1.51 1.08 0.39 0.04
Slide 10: Income statement (9 months)
Rs. in Million For 9 months ended For the year Particulars Dec 12 ending Mar, 12 Revenue from Operations 4752 5717 Other Income 135 376 Total Revenue 4887 6093 Expenses: Cost of Goods sold 2551 3493 Employee benefit expenses 441 479 Other expenses 469 343 Total expenses 3456 4315 EBIDTA 1431 1778
Slide 11: Income statement continued
Rs. in Million For 9 months ended For the year Particulars Dec 12 ending Mar, 12 Depreciation and amortization 536 492 Finance cost 634 604 Profit/(loss) before tax 261 681 Tax Expenses Current tax 52 136 Deferred Tax 61 (30) MAT entitlement (211) (6) Total tax expense (97) 101 Profit/(loss) for the
Slide 12: Balance sheet: equity and liabilities
Rs. in Million Particulars As at Dec 12 As at Mar 12 EQUITY AND LIABILITIES Share holders’ fund: Share Capital 1,123 1,123 Reserves and Surplus 10,898 10,503 Sub-total 12,021 11,626 Non-Current Liabilities: Long term borrowings 6896 6,835 Deferred tax liabilities (net) 263 202 Other long term liabil
Slide 13: Balance sheet: assets
Rs. in Million Particulars As at Dec 12 As at Mar 12 ASSETS Non-current assets: Tangible assets 9,900 4,404 Intangible assets 80 85 Capital work-in-progress 3,805 9,250 Non-current investment 931 207 Long term loans and advances 1,625 1,571 Other non-current assets 36 34 Current assets: Inventories
Slide 14: Quarterly results statement (1)
Rs. in Million S Particulars Q–3 Dec Q-2 Q-3 Dec YTD Dec YTD Dec Audited No 12 Sept 12 11 12 11 March 12 1 Income from operations (a) Net Sales/Income from operations (Net of excise duty) 1,295 1,549 1,142 4,009 4,416 5,718 (b) Other Operating Income 274 297 99 792 262 294 Total Income from operatio
Slide 15: Quarterly results statement (2)
Rs. in Million S Particulars Q–3 Q-2 Q-3 YTD YTD Audited No Dec 12 Sept 12 Dec 11 Dec 12 Dec 11 Mar 12 3 Profit/(Loss) from ordinary activities before other income, finance costs and exceptional items (1-2) 276 269 304 809 1,031 1,203 4 Other Income 21 39 10 86 79 82 5 Profit/(Loss) from ordinary ac
Slide 16: Quarterly results statement (3)
Rs. in Million S Particulars Q–3 Q-2 Q-3 YTD YTD Audited No Dec 12 Sept 12 Dec 11 Dec 12 Dec 11 Mar 12 10 Tax expense 20 (62) 34 (97) 178 101 11 Profit/(Loss) from ordinary activities after tax (9+10) 66 148 104 359 501 581 12 Paid-up equity share capital 1,123 1,123 1,123 1,123 1,123 1,123 13 Reser
Slide 17: Segment revenue and results
Rs. in Million S No Particulars Q–3 Q-2 Q-3 YTD YTD Audited Dec 12 Sept 12 Dec 11 Dec 12 Dec 11 Mar 12 1 Segment Revenue Real Estate 1,048 1,315 989 3,364 4,098 5,407 Hospitality 265 286 157 760 327 617 Lease Rentals 257 248 - 682 - - Less : Inter Segment Revenues 0 3 4 5 9 13 Net Income From Operat
Slide 18: Capital employed by segment
Rs. in Million S Particulars Q–3 Dec Q-2 Q-3 Dec YTD Dec YTD Dec Audited No 12 Sept 12 11 12 11 Mar 12 3 Capital Employed Real Estate 10,059 10,712 17,907 10,059 17,907 17,374 Hospitality 3,199 3,234 2,558 3,199 2,558 2,552 Lease Rentals 7,576 7,159 - 7,576 - - Total Capital Employed 20,834 21,105 2
Slide 19: Synopsis of Ongoing Residential Projects
Synopsis of Ongoing Residential Projects Ongoing Stock Particulars Total UOM Projects Sales Total super built-up area of ongoing project on sale basis 4.51 0.41 4.92 Mn Sft Less: LO Share 0.57 0.57 Mn Sft Co share of saleable area 3.94 0.41 4.35 Mn Sft Sold till Dec 12 1.88 1.88 Mn Sft To be sold 2.
Slide 20: Synopsis of Ongoing Residential Projects
Synopsis of Ongoing Residential Projects Ongoing Stock Particulars Total UOM Projects Sales Revenue Recognised till Dec 12 1,104 1,104 Rs. Mn Revenue to be Recognised (incl unsold units) 13,900 2,151 16,050 Rs. Mn Estimated cost for the projects (incl Land/NRD) 10,499 1,590 12,089 Rs. Mn Cost incurr
Slide 21: Ongoing and completed projects
Ongoing Completed Description Total Projects Projects Total super built-up area of launched project on sale basis (in 45,10,390 Sft) BEL share of saleable area (in Sft) 39,38,312 Total area sold till Sept 30, 2012 (in Sft) 18,83,560 Unsold area (in Sft) 20,54,752 4,09,806 24,64,558 Balance construct
Slide 22: Completed Projects
Rs. in Million Stock as on Current Estimated Estimated Completed Projects Dec’12 rate sale value profit Brigade Gateway – Residential 28,450 7,550 215 134 Brigade Petunia 12,200 8,500 104 41 Brigade Odyssey 2,090 11,000 23 9 Brigade Metropolis Arcade 5,640 5,000 28 14 Brigade WTC Office 45,337 10,00
Slide 23: Projects under development, area
As on Dec 2012 Area in SFT Projects Project Area LO/JV share Co Share Residential projects 45,10,390 5,72,078 39,38,312 B.Orchards * 11,51,614 5,75,807 5,75,807 Total Residential 56,62,004 11,47,885 45,14,119 Brigade Rubix (Retail) 74,440 74,440 B Banaswadi-Retail 2,71,830 1,19,605 1,52,225 B.Vantag
Slide 24: Project cost, incurred and loan tied up
As on Dec 2012 Rs. Mn Estimated Projects Incurred Balance Loan Tied up cost Brigade Rubix (Retail) 219 145 74 B Banaswadi-Retail 716 286 430 644 B. Holiday Inn-Chennai 933 214 719 750* B.Vantage, Mysore 243 70 173 B.Vantage Chennai 416 25 391 350 B. SEZ, Mangalore 796 37 760 600* Total 3,323 777 2,5
Slide 25: Land Bank Details - Group
LAND BANK DETAILS-Group LAND AREA TOTAL COST* PAID PAYABLE LOCATION (in acres) (Rs. Crs) (Rs. Crs) (Rs. Crs) Bangalore 284 644 467 176 Chennai 57 75 31 44 Chikmagalur 1 1 1 - Cochin 23 34 34 - Hyderabad 3 6 6 - Mangalore 33 6 6 0 Mysore 46 29 28 1 Total 446 794 573 221 * Includes Refundable/Non Refu
Slide 26: Developable Area - Group
Developable Area-Group Project BEL Project BEL No of Area Share No of Area Share Product Location Projects SFT in SFT in Projects SFT in SFT in Mn Mn Mn Mn Residential Bangalore 35 27.3 19.9 41 27.2 20.7 Coml-Sale Chennai 5 1.7 1.0 2 4.5 2.5 Coml-Lease Chikmagalur 11 7.3 6.8 1 0.1 0.1 Retail Cochin
Slide 27: New Projects to be Launched in Q4-13 (1)
NEW PROJECTS TO BE LAUNCHED in Q4-13 (1) LAND PROJECT PROJECT CITY BEL SHARE TYPE AREA AREA In Acres Sft in Mn Sft in Mn B. Omega Tower-A Bangalore 2 0.3 0.20 Residential 0.08 B. Zenith Hyderabad 3 0.17 Residential B. Altamont Bangalore 3 0.32 0.21 Residential B. Caladium Bangalore 2 0.21 0.13 Resid
Slide 28: New Projects to be Launched in Q4-13 (2)
NEW PROJECTS TO BE LAUNCHED Q4-13 (2) LAND PROJECT BEL PROJECT CITY TYPE AREA AREA SHARE In acres Sft Sft IT Park Cochin 3 0.31 0.31 Commercial-Lease B. Magnum Bangalore 4 0.51 0.28 Commercial-Sale Total Commercial 7 0.62 0.59 - Total 37 2.52 2.02 28
Slide 29: Awards During the Quarter
AWARDS DURING THE QUARTER Platinum Award of Excellence - Construction World Awards 2012 Brigade Gateway Residences won the National Award for the Best Project in the Mid-segment Housing category – CNBC AWAAZ REAL ESTATE AWARDS World Trade Center was awarded the Best Commercial project in Bangalore -
Slide 30: Thank You
THANK YOU Brigade Enterprises Ltd K Suresh 29th & 30th Floor, World Trade Centre, Chief Financial Officer Brigade Gateway Campus, Email: sureshkris@brigadegroup.com 26/1, Dr. Rajkumar Road, Malleswaram-Rajajinagar, Om Prakash P Bangalore -560 055. Company Secretary Phone: 91-80-4137 9200 Email: ompr
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