Brigade Enterprises Limited · NSE:BRIGADE

Brigade Enterprises — Q1 FY23 Earnings Presentation

37 slides from Brigade Enterprises's earnings presentation, June 2022

  1. Slide 1: Investor Presentation – Q1 FY23

    Artist’s impression of Brigade Orchards Artist’s impression of Brigade Utopia BRIGADE ENTERPRISES LIMITED Investor Presentation – Q1 FY23 (CIN: L85110KA1995PLC019126) 1

  2. Slide 2: Brigade – A brand that puts values first

    Brigade – A brand that puts values first About us Presence • Leading property developer in South Indian real estate market with over 35 years of experience • Reputation of developing Grade A properties • Business Portfolio of Residential, Lease Rentals and Hospitality projects • Consistent EBITDA ma

  3. Slide 3: Segments Highlights – Q1 FY23

    Segments Highlights – Q1 FY23 Real Estate – On Sale Basis • Achieved pre-sales of ~1.2 Mn sft in Q1 FY23, an increase of 61% compared to Q1 FY22 Revenue Share % • Sales value was INR 8,139 Mn in Q1 FY23, an increase of 70% compared to Q1 FY22 • Average realization increased by 5% to INR 6,589/sft in

  4. Slide 4: Summary: Ongoing Projects

    Summary: Ongoing Projects Area in Mn sft Projects Project Area Co Share LO/JV share Total Project Area 7% Real Estate projects for sale 6.98 4.53 2.45 Real Estate Brigade Orchards * 1.22 0.61 0.61 Lease Rentals Brigade Cornerstone Utopia* 5.02 3.33 1.69 93% Brigade Residences at WTC Chennai* 0.57 0.

  5. Slide 5: Contents

    Contents 1 Sustained momentum in Real Estate Segment 2 Resurgence of demand in Leasing Segment 3 Strong revival in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 5

  6. Slide 6: Highlights: Real Estate - Q1 FY23

    Highlights: Real Estate - Q1 FY23 • Achieved pre-sales of ~1.2 Mn sft with a sale value of INR 8,139 Mn during Q1 FY23 • Average realization was INR 6,589/sft in Q1 FY23, increase by 5% compared to Q1 FY22 • Strong pipeline of ongoing projects of ~17.03 Mn sft Strong pipeline of upcoming projects of

  7. Slide 7: Group Sales Snapshot

    Group Sales Snapshot Q1 FY23 on Q1 FY23 on Particulars Q1 FY23 Q4 FY22 Q1 FY22 Q4 FY22 Q1 FY22 Net Area Sales (‘000 sft) Residential 1,130 1,508 751 (25%) 50% Commercial 105 40 14 162% 650% Total 1,235 1,548 765 (20%) 61% Net Sale Value (‘INR Mn) Residential 7,428 9,931 4,688 (25%) 58% Commercial 71

  8. Slide 8: Quarterly Sales Performance – Real Estate

    Quarterly Sales Performance – Real Estate Net Area Sales ('000 Sft) Net Sales Value (INR Mn) 1,548 10,279 1,313 1,235 8,306 8,139 1,090 6,842 765 4,800 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Achieved pre-sales of 1.2 Mn sft during Q1 FY23, a growth of 61% ove

  9. Slide 9: Consolidated synopsis of Real Estate Projects

    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 projects on sale basis 15.24 1.79 0.52 0.49 18.04 Less: Landowner share 4.14 - - - 4.14 Company share of saleable area 11.10 1.79 0.52

  10. Slide 10: Contents

    Contents 1 Sustained momentum in Real Estate Segment 2 Resurgence of demand in Leasing Segment 3 Strong revival in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 10

  11. Slide 11: Our Leasing Portfolio: Operating Assets

    Our Leasing Portfolio: Operating Assets Area in Mn sft Retail 1.17 0.14 Leased Out Hard Option Office 5.43 0.37 1.57 To Be Transacted Particulars Leasable Area Leased Hard Option To be transacted Brigade Tech Gardens 3.00 1.85 0.20 0.95 WTC Chennai 2.01 1.47 0.06 0.48 WTC Bengaluru 0.62 0.62 - - Bri

  12. Slide 12: Capex Commitment

    Capex Commitment (INR Mn) Project Estimated cost Incurred Balance* Brigade Twin Towers 5,999 2,059 3,940 Total Commercial Lease 5,999 2,059 3,940 *As of June 22 Artist’s impression of Brigade Twin Towers, Bengaluru 12

  13. Slide 13: Contents

    Contents 1 Sustained momentum in Real Estate Segment 2 Resurgence of demand in Leasing Segment 3 Strong revival in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 13

  14. Slide 14: Strong revival in Hospitality Segment

    Strong revival in Hospitality Segment • Remarkable turnaround during Q1 FY23; revival of primary segments such as rooms, F&B, MICE and banquet events • Revenue and occupancy surpassed pre-covid levels; ARR is back to pre-covid levels Grand Mercure, Mysore Holiday Inn Express, OMR • Continued cost-op

  15. Slide 15: Contents

    Contents 1 Sustained momentum in Real Estate Segment 2 Resurgence of demand in Leasing Segment 3 Strong revival in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 15

  16. Slide 16: Consolidated Financials: Snapshot

    Consolidated Financials: Snapshot (INR Mn) Q1 FY23 on Q4 Q1 FY22 on Q1 Particulars Q1 FY23 Q4 FY22 Q1 FY22 FY22 FY22 Revenue 9,203 9,647 3,915 (5%) 135% EBITDA 2,504 2,276 1,200 10% 109% Finance costs 1,061 1,094 1,132 (3%) (6%) Profit before depreciation 1,443 1,182 68 22% 2022% Depreciation 751 90

  17. Slide 17: Business Segment Performance: Q1 FY23

    Business Segment Performance: Q1 FY23 (INR Mn) Particulars Real Estate Lease Rental Hospitality Total Revenue 6,550 1,754 899 9,203 as % of Total 71% 19% 10% 100% Direct Expenses 4,974 6 97 5,077 Admin Expenses 207 226 304 737 Selling Cost 158 63 38 259 Employee cost 354 103 169 626 EBITDA 856 1,357

  18. Slide 18: Consolidated Cash Flows

    Consolidated Cash Flows (INR Mn) Particulars Q1 FY23 Q4 FY22 Q1 FY22 Operating Activities Total Collections 12,103 13,335 7,172 Direct Cost/Construction Cost (4,860) (5,434) (3,488) Landowner Payments (1,097) (1,218) (619) Employee and Admin Expenses (938) (938) (738) Sales & Marketing Expenses (334

  19. Slide 19: Capital Allocation: Segment-wise as of 30th June 2022

    Capital Allocation: Segment-wise as of 30th June 2022 (INR Mn) Capital Employed % Operating Capital D/E Ratio PBD*/ Capital EBITDA/ Segment Equity (A) Debt (B) Employed (A/B) Equity % Employed OCE % (A+B) 11% (OCE) 29% Real Estate 19,938 2,133 22,071 0.11 20% 22,071 21% Hospitality 2,530 6,124 8,654

  20. Slide 20: Consolidated Debt Profile

    Consolidated Debt Profile (INR Mn) Particulars June-22 March-22 December-21 Real Estate 2,133 2,718 2,929 Hospitality 6,124 6,182 5,989 GOP Securitised 5,150 5,332 4,899 Capex 974 850 1,090 Leasing 32,698 32,288 32,100 Securitised Lease Rental 23,832 23,768 23,752 Capex 8,866 8,520 8,348 Less: Cash

  21. Slide 21: Debt Profile & Cost of Borrowing

    Debt Profile & Cost of Borrowing Segment Wise Debt (INR Mn) Gross debt to Brigade’s share 5% 2% 42,207 41,276 41,018 41,188 40,955 12% Gross Debt – 40,955 Mn 22,183 21,387 22% 59% 19,729 17,531 16,355 Commercial - LRD Commercial - CAPEX Hospitality - LRD Jun-21 Sep-21 Dec-21 Mar-21 Jun-22 Real Estat

  22. Slide 22: Standalone Financial Statement

    Standalone Financial Statement (INR Mn) Q1 FY23 on Q1 FY23 on Particulars Q1 FY23 Q4 FY22 Q1 FY22 Q4 FY22 Q1 FY22 Turnover 6,613 7,187 2,670 (8%) 148% EBITDA 1,746 1,827 902 (4%) 94% Finance costs 322 335 394 (4%) (18%) Profit before depreciation 1,424 1,492 508 (5%) 180% Depreciation 186 199 199 (7

  23. Slide 23: Contents

    Contents 1 Sustained momentum in Real Estate Segment 2 Resurgence of demand in Leasing Segment 3 Strong revival in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 23

  24. Slide 24: Brigade’s Land Bank

    Brigade’s Land Bank Land Area (in acres) as on 30th June 22 10 3 15 18 Bangalore 79 Chennai Kochi Mysore GIFT City Hyderabad Others Hyderabad 367 Bengaluru Mysore Chennai Total Land Area Cost of Land Amount Paid Balance Payable Kochi (Acres) (INR Mn) (INR Mn) (INR Mn) Thiruvananthapuram 492 18,513 7

  25. Slide 25: Developable Area Details

    Developable Area Details Project Area (Mn Project Area: Product Mix Product Land Area (Acres) BEL Share (Mn Sft) Sft) Residential 275 34.7 25.9 3% 1% 3% Plotted development 84 1.8 0.8 Commercial-Lease 57 7.2 6.6 15% Logistics & Warehousing 44 1.1 1.1 Commercial-Sale 11 1.5 0.9 Hotel 21 0.4 0.4 4% To

  26. Slide 26: Contents

    Contents 1 Sustained momentum in Real Estate Segment 2 Resurgence of demand in Leasing Segment 3 Strong revival in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 26

  27. Slide 27: Projects Launched: Q1 FY23

    Projects Launched: Q1 FY23 Project Area BEL Economic Interest Project City Segment (Mn Sft) (Mn Sft) Neem Groove @ Brigade Orchards Bengaluru Plotted development 0.17 0.08 Brigade El Dorado – Iridium Block Bengaluru Residential 0.34 0.34 Total 0.51 0.42 Artist’s impression of Neem Groove, Brigade Or

  28. Slide 28: Upcoming Launches

    Upcoming Launches Segment Total Area (Mn sft) Brigade Economic Interest (Mn sft) Residential 7.60 6.32 Plotted development 1.94 0.85 Leasing 2.03 1.20 Total 11.57 8.37 Artist’s impression of Brigade Nanda Heights Artist’s impression of Brigade Atmosphere, Pearl 28

  29. Slide 29: Awards and Accolades – Q1 FY23

    Awards and Accolades – Q1 FY23 • Awarded Economic Times Real Estate Conclave Awards 2022 South for below categories  Mr. M R Jaishankar – Realty personality  Brigade Orchards – Township project  Brigade Xanadu – Theme based project  Brigade Atmosphere – Villa project • Conclave & Excellence Awar

  30. Slide 30: Awards and Accolades – Q1 FY23

    Awards and Accolades – Q1 FY23 • Brigade El Dorado recognized as Best affordable Housing Project in the state, at PMAY Empowering India Awards, 2022 • Certificate for IDEA Video/TVC Campaign of the Year by Indian Digital Excellence Awards, 2022 30

  31. Slide 31: Shareholding Pattern – 30th June 2022

    Shareholding Pattern – 30th June 2022 18% Promoter Group 44% FIIs and FPIs Mutual Funds 25% Others 13% 31

  32. Slide 32: Board of Directors

    Board of Directors Lakshmi Dr. Venkatesh Pavitra Shankar M. R. Jaishankar Aroon Raman Venkatachalam Panchapagesan Chairman and Managing Director Independent Director Independent Director Independent Director Executive Director • Masters in Business Administration • MBA from Wharton School, • MBA fro

  33. Slide 33: Ongoing Residential Projects

    Ongoing Residential Projects Artist’s impression of Brigade Laguna Artist’s impression of Brigade Komarla Heights 33

  34. Slide 34: Upcoming launches

    Upcoming launches Artist’s impression of Brigade Atmosphere, Pearl Artist’s impression of Plotted development at Devanahalli Artist’s impression of Brigade Calista Artist’s impression of Brigade Horizon 34

  35. Slide 35: Completed Residential Projects

    Completed Residential Projects Artist’s impression of Brigade Woods Artist’s impression of Brigade Parkside North 35

  36. Slide 36: Completed Commercial Projects

    Completed Commercial Projects Actual shot at World Trae Center, Chennai Actual shot at Brigade Tech Gardens 36

  37. Slide 37: Thank you

    Email:investors@brigadegroup.com Brigade Enterprises Limited 29th & 30th Floor, World Trade Center Brigade Gateway Campus, Dr Rajkumar Road, Malleswaram-Rajajinagar, Bengaluru 560055 Thank you Disclaimer: The information in this presentation contains certain forward-looking statements. These include

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