Brigade Enterprises Limited · NSE:BRIGADE
Brigade Enterprises — Q4 FY2015 Earnings Presentation
33 slides from Brigade Enterprises's earnings presentation, 2015
Slide 1: Brigade Group Investor Presentation – Q4 FY 2014-15
Brigade Group Investor Presentation – Q4 FY 2014‐15
Slide 2: Q4 FY15 - Key Highlights
Q4 FY 15 ‐ Key Highlights Consolidated FY 2014‐15 Revenue of Rs. 13.31 Bn (38% Y‐o‐Y increase) and PAT of Rs. 1.15 Bn (29% Y‐ o‐Y increase) Standalone FY 2014‐15 Revenue of Rs. 10.08 Bn (10% Y‐o‐Y increase) and PAT of Rs. 0.7 Bn (22% Y‐o‐Y decrease) Standalone Q4 FY 2014‐15 Revenue of Rs. 3.07 Bn (5
Slide 3: Brigade Group – Business Overview
Brigade Group – Business Overview Real Estate Lease Rental Hospitality • Executed over 20 million • Portfolio of 1.63 million sft • Portfolio of two best‐in‐ sft of residential & of completed commercial class performing 5 Star commercial projects & retail projects (over 96% hotels in Bangalore. • On
Slide 4: Consolidated Financials - Snapshot
Consolidated Financials ‐ Snapshot Amounts in Rs. Mn Turnover EBITDA 13,308 4,030 14,000 9,667 3,184 5,000 12,000 4,000 10,000 8,000 3,000 6,000 2,000 4,000 1,000 2,000 ‐ ‐ FY 2014 FY 2015 FY 2014 FY 2015 PAT Growth % 1,150 38% 890 40% 1,200 29% 27% 1,000 30% 800 600 20% 400 10% 200 ‐ 0% FY 2014 FY
Slide 5: Consolidated Financials - Snapshot
Consolidated Financials ‐ Snapshot Amount in Rs. Mn FY 2015 Q4 FY15 Q4 FY15 Q4 Q3 Q4 Particulars FY 2015 FY 2014 on FY on Q3 on Q4 FY15 FY15 FY14 2014 FY15 FY14 Turnover 13,308 9,667 38% 3,538 4,116 4,070 ‐14% ‐13% EBITDA 4,030 3,184 27% 1,356 1,138 1,084 19% 25% Interest 1,314 1,131 16% 491 283 228
Slide 6: Standalone Financials - Snapshot
Standalone Financials ‐ Snapshot Amount in Rs. Mn FY 2015 Q4 FY15 Q4 FY15 Q4 Q3 Q4 Particulars FY 2015 FY 2014 on FY on Q3 on Q4 FY15 FY15 FY14 2014 FY15 FY14 Turnover 10,080 9,158 10% 3,070 2,036 3,942 51% ‐22% EBITDA 3,153 3,019 4% 986 645 1,083 53% ‐9% Interest 1,146 1,024 12% 323 283 235 14% 37%
Slide 7: Consolidated Segment Profit Analysis
Consolidated Segment Profit Analysis For 12 months ended March 2015 Contribution to Total Revenue Contribution to Gross Profit Hospitality Hospitality 12% 19% Lease Rentals 14% Lease Rentals Real Estate 23% 58% Real Estate 74% Contribution to EBITDA Contribution to PBT Hospitality Hospitality 14% Le
Slide 8: Consolidated Segment Profit Analysis
Consolidated Segment Profit Analysis 12 Months ending March 2015 Amount in Rs. Mn Particulars Real Estate Hospitality Lease rentals Total Revenue 9,839 1,628 1,842 13,308 Expenses 5,488 202 146 5,836 Gross profit 4,351 1,425 1,696 7,472 Gross profit Margin % 44% 88% 92% 56% Admin Expenses 1,017 551
Slide 9: Standalone Segment Profit Analysis
Standalone Segment Profit Analysis 12 Months ending March 2015 Amount in Rs. Mn Particulars Real Estate Hospitality Lease rentals Total Revenue 7,220 1,238 1,623 10,080 Expenses 3,951 103 141 4,195 Gross profit 3,269 1,135 1,481 5,862 Gross profit Margin % 45% 92% 91% 58% Admin Expenses 785 413 117
Slide 10: Consolidated Cash Flows
Consolidated Cash Flows Direct Method Cash Flows Amount in Rs. Mn Particulars FY 2014‐15 Q4 FY 2014‐15 Operating Activities Total Collections 14,756 3,825 Construction Cost 8,200 2,627 Employee and Admin Expenses 1,961 554 Sales & Marketing Expenses 739 248 Statutory Payments 1,108 273 Other Expense
Slide 11: Consolidated Cash Flows (Contd.)
Consolidated Cash Flows (Contd.) Amount in Rs. Mn Particulars FY 2014‐15 Q4 FY 2014‐15 Investment Activities Investments Matured 475 475 Construction Cost (CWIP) 2,438 791 Investment in BPPL 510 510 Investment in Land/JD/JV/TDR 3,519 1,744 Other Investments 411 141 Net Cash Flow from Investment Acti
Slide 12: Standalone Cash Flows
Standalone Cash Flows Direct Method Cash Flows Amount in Rs. Mn Particulars FY 2014‐15 Q4 FY 2014‐15 Operating Activities Total Collections 11,154 2,891 Construction Cost 6,245 2,001 Employee and Admin Expenses 1,270 359 Sales & Marketing Expenses 588 198 Statutory Payments 747 184 Other Expenses &
Slide 13: Standalone Cash Flows (Contd.)
Standalone Cash Flows (Contd.) Amount in Rs. Mn Particulars FY 2014‐15 Q4 FY 2014‐15 Investment Activities Investments Matured / Inter Company 35 30 Construction Cost (CWIP) 2,173 705 Investment in BPPL 510 510 Investment in Land/JD/JV/TDR 1,277 633 Other Investments 211 86 Net Cash Flow from Invest
Slide 14: Deployment of Funds - Consolidated
Deployment of Funds ‐ Consolidated Capital Employed Profitability Ratios 30% 26% Lease Rental 25% 21% 21% 35% 20% 16% Real Estate 14% 13% Real Estate 15% Hospitality 56% Lease Rental 10% Hospitality 5% 9% 0% PBD/Equity % EBITDA/CE % Figures as on March 2015; Amounts are in Rs. Mn Capital D/E PBD/Equ
Slide 15: Deployment of Funds - Standalone
Deployment of Funds ‐ Standalone Capital Employed Profitability Ratios 30% 25% 25% 21% 20% Lease Rental 38% 20% Real Estate Real Estate 13% 15% 10% 10% Hospitality 52% 10% Lease Rental 5% Hospitality 10% 0% PBD/Equity % EBITDA/CE % Figures as on March 2015; Amounts are in Rs. Mn Capital D/E PBD/Equi
Slide 16: Debt & Cost Movement
Debt & Cost Movement 14,000 14.50% Debt Interest Rate Standalone figures; Amount in Rs. Mn 12,414 14.00% 12,000 13.55% 13.86% 9,992 13.50% 10,000 9,850 9,815 9,226 9,168 8,910 13.31% 8,813 8,537 8,508 12.78% 8,637 13.00% 13.11% 8,308 8,433 8,380 8,000 13.06% 12.38% 12.46% 12.27% 12.50% 12.19% 12.19%
Slide 17: Credit Rating
Credit Rating CRISIL “A” ICRA “A” ICRA “A‐” ICRA “BBB+” ICRA “BBB” ICRA “BBB‐” Jul‐09 Jan‐10 Jul‐10 Jan‐11 Jul‐11 Jan‐12 Jul‐12 Jan‐13 Jul‐13 Jan‐14 Jul‐14 Consistent improvement in Credit Rating 17
Slide 18: Sales Volume Analysis
Sales Volume Analysis Quarterly Area Sales Residential Commercial 900 800 83 51 31 5 700 600 132 500 203 16 400 715 723 761 700 678 300 473 462 200 394 100 ‐ Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15 Q4 FY15 All figures are in sft ‘000 FY 2013‐14 FY 2014‐15 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4
Slide 19: Sales Value Analysis
Sales Value Analysis Quarterly Sales Value Residential Commercial 5,000 507 270 4,000 218 41 1,016 3,000 928 91 2,000 3,580 3,882 3,345 3,364 3,457 2,579 2,387 1,000 1,994 ‐ Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15 Q4 FY15 All Amounts in Rs. Mn except Average Rate/SFT which is in Rs.
Slide 20: Ongoing Projects - Summary
Ongoing Projects ‐ Summary Area in ‘000 SFT Project LO/JV Total Project Area Projects Co Share Hospitality Area share 3% Real Estate projects 12,716 2,494 10,222 Lease Rental 10% Brigade Orchards * 2,433 1,216 1,216 Brigade Cosmopolis * 1,206 591 615 Total Real Estate 16,355 4,302 12,053 Brigade Nal
Slide 21: Synopsis of Ongoing Projects – Mar 2015
Synopsis of Ongoing Projects – Mar 2015 Ongoing BEL Ongoing Stock Particulars Total Projects SPV Projects Sales In Mn. Sft Total super built‐up area of launched project on sale basis 12.72 3.64 0.09 16.45 Less: LO Share 2.49 0 0 2.49 Co share of saleable area 10.22 3.64 0.09 13.95 Sold till date 5.6
Slide 22: Synopsis of Ongoing Projects – Contd.
Synopsis of Ongoing Projects – Contd. Ongoing BEL Ongoing SPV Stock Particulars Total Projects Projects Sales Rs. In Mn Revenue Recognised till date 12,341 3,100 0 15,441 Revenue to be Recognised (incl unsold units) 37,451 15,359 793 53,603 Estimated cost for the projects (incl Land/NRD) 35,344 13,5
Slide 23: Lease Position – March 15
Lease Position – March 15 To be Leased Leased out 618 117 789 33 Leasable Area 645 117 818 10 40 0 200 400 600 800 1000 1200 1400 1600 1800 WTC South Parade Orion Mall Solitaire Others Area in ‘000 SFt Project Leasable Area Leased out To be Leased WTC Bangalore 645 618 27 Brigade South Parade 117 11
Slide 24: Hospitality Business
Hospitality Business GRAND MERCURE SHERATON Details FY 14‐15 FY 13‐14 FY 14‐15 FY 13‐14 No of Keys 126 126 230 230 Occupancy 78% 86% 72% 75% ARR (Rs.) 6,757 6,558 7,811 7,633 GOP 48.5% 50.7% 41.0% 40.8% 24
Slide 25: Land Bank - Group
Land Bank ‐ Group As on March 2015 Amount in Rs. Mn Land Area Location Total Cost* Paid Payable (in acres) Bangalore 262 8,233 6,504 1,729 Chennai 57 775 430 345 Kochi 22 281 281 ‐ Mangalore 29 54 46 7 GIFT, Gujarat 12 1,200 299 901 Mysore 20 94 83 11 Total 401 10,637 7,644 2,993 * Includes Refundab
Slide 26: Land Bank – Developable Area
Land Bank – Developable Area As on March 2015 Project Area ‐ Product Project Area ‐ Location Hotel Mysore 2% Retail GIFT 7% 2% 7% Commercial‐ Mangalore Lease 5% Cochin 30% 5% Chennai Residential 6% Commercial‐ 62% Bangalore Sale 70% 4% BEL No of Proj Area BEL Share No of Proj Area Location Product S
Slide 27: Projects Launched – FY 2014-15
Projects Launched – FY 2014‐15 Project Launch Plan / Project City Land Area BEL Share Area Status In Acres Sft in Mn Sft in Mn Brigade Exotica‐Tower‐2 Bangalore 5.26 0.72 0.72 Launched in Q1 Brigade Omega ‐ Tower‐A Bangalore 2.46 0.31 0.19 Launched in Q1 Brigade Meadows Phase 2 Bangalore 14.99 0.88
Slide 28: Projects Launched – FY 2014-15
Projects Launched – FY 2014‐15 Project Launch Plan / Project City Land Area BEL Share Area Status In Acres Sft in Mn Sft in Mn Brigade Golden Triangle Signature Bangalore 5.41 0.55 0.39 Launched in Q3 Tower Commercial Sale Total 5.41 0.55 0.39 Brigade Bhuwalka Icon Bangalore 2.61 0.29 0.15 Launched
Slide 29: Projects to be Launched – FY 2015-16
Projects to be Launched – FY 2015‐16 Land Projec BEL Launch Project City Area t Area Share Plan Acres Mn sft Mn sft Brigade Omega ‐ II Residential Bangalore 8.4 0.87 0.55 Q1 B. Orchards ‐ Assisted Living Residential Bangalore 0.7 0.05 0.02 Q1 Brigade Palmgrove‐apartments Residential Mysore 2.5 0.14
Slide 30: Projects to be Launched – FY 2015-16
Projects to be Launched – FY 2015‐16 Land Project BEL Launch Project City Area Area Share Plan Acres Mn sft Mn sft B. Orchards Comml & Retail Commercial‐Sale Bangalore 2.8 0.24 0.12 Q3 B. Meadows Commercial Commercial‐Sale Bangalore 1.3 0.07 0.07 Q1 Commercial Sale Total 4.1 0.30 0.20 Brigade Opus C
Slide 31: Awards & Recognition – Q4 FY15
Awards & Recognition – Q4 FY 15 Brigade Group won 4 awards across various categories at the CARE Awards (CREDAI Real Estate Awards) held on 27th March 2015 at ITC Gardenia, Bangalore:‐ Mr. M R Jaishankar, CMD, Brigade Group was given an award for ‘Outstanding contribution to the Real Estate Sect
Slide 32: Awards & Recognition – Q4 FY15
Awards & Recognition – Q4 FY 15 Mr. Manjunath Prasad, COO Projects was awarded the Most Enterprising Real Estate Professional of the year at the Global Real Estate Brand awards 2015 Orion Mall won the Best Shopping Mall of the year in South India at the Indian Retail & eRetail Awards 2015 Orio
Slide 33: 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, Om Prakash P Malleswaram‐Rajajinagar, Company Secretary Bangalore ‐560 055. Email: omprakash@brigadegroup.com
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