Brigade Enterprises Limited · NSE:BRIGADE
Brigade Enterprises — 9M FY22 Earnings Presentation
36 slides from Brigade Enterprises's earnings presentation, February 2022
Slide 1: Investor Presentation – 9M FY22
World Trade Center, Chennai World Trade Center, Bengaluru BRIGADE ENTERPRISES LIMITED Investor Presentation – 9M FY22 (CIN: L85110KA1995PLC019126) 1
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
Slide 3: Segments highlights
Segments highlights Real Estate – On Sale Basis • Q3 FY22 Sales area was ~1.1 Mn sft and corresponding Sale value was INR 6,842 Mn Revenue Share % • Sales volume was ~3.2 Mn sft in 9M FY22, an 8% increase from 9M FY21 • Achieved sale value of INR 19,948 Mn during 9M FY22, a 14% increase from 9M FY21
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 7.74 5.02 2.72 Real Estate Brigade Orchards * 0.54 0.27 0.27 Lease Rentals Brigade Cornerstone Utopia* 5.02 3.33 1.69 93% Brigade Residences at WTC Chennai* 0.57 0.
Slide 5: Contents
Contents 1 Real Estate performance remains resilient 2 Leasing segment witnesses traction 3 Strong rebound in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 5
Slide 6: Highlights: Real Estate - Q3 FY22
Highlights: Real Estate - Q3 FY22 • Achieved pre-sales of ~𝟏.1 Mn sft with a Sale value of INR 6,842 Mn in Q3 FY22 • Average realization was INR 6,281/sft in Q3 FY22 • Strong pipeline of ongoing projects of ~16.8 Mn sft • Real estate debt reduced by INR 523 Mn during Q3 FY22 due to good sales and…
Slide 7: Group Sales Snapshot
Group Sales Snapshot 9M FY22 on 9M Q3 FY22 on Q3 FY22 on Particulars 9M FY22 9M FY21 Q3 FY22 Q2 FY22 Q3 FY21 FY21 Q2 FY22 Q3 FY21 Net Area Sales (‘000 sft) Residential 3,128 2,842 10% 1,083 1,294 1478 (16%) (27%) Commercial 40 100 (60%) 7 19 55 (63%) (88%) Total 3,168 2,942 8% 1,090 1,313 1533 (17%)
Slide 8: 9M FY22 Sales Performance – Real Estate
9M FY22 Sales Performance – Real Estate Net Area Sales ('000 Sft) Net Sales Value (INR Mn) Sales Realization (INR/Sft) 19,948 6,298 3,168 5,945 2,942 17,491 9M FY21 9M FY22 9M FY21 9M FY22 9M FY21 9M FY22 Achieved Pre-sales of ~3.2 Mn sft during 9M FY22 8
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 15.66 1.11 0.74 0.63 18.14 Less: Landowner share 4.41 - - - 4.41 Company share of saleable area 11.25 1.11 0.74
Slide 10: Contents
Contents 1 Real Estate performance remains resilient 2 Leasing segment witnesses traction 3 Strong rebound in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 10
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 4.84 0.24 2.31 To Be Transacted Particulars Leasable Area Leased Hard Option To be transacted Brigade Tech Gardens 3.00 1.44 0.20 1.36 WTC Chennai 2.01 1.43 0.04 0.54 WTC Bengaluru 0.62 0.62 - - Bri
Slide 12: Capex Commitment
Capex Commitment (INR Mn) Project Estimated cost Incurred Balance* Brigade Twin Towers 5,999 1,564 4,435 Total Commercial Lease 5,999 1,564 4,435 *As of December 21 Artist’s impression of Brigade Twin Towers, Bengaluru 12
Slide 13: Contents
Contents 1 Real Estate performance remains resilient 2 Leasing segment witnesses traction 3 Strong rebound in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 13
Slide 14: Strong rebound in Hospitality Segment
Strong rebound in Hospitality Segment • Witnessed significant revival of demand with a good mix of leisure travelers, banquet events and Corporate travel business; Corporate travel accounted for 25% of Room Night Sales • Occupancy was 59% in Q3 FY22 vs 45% in Q2 FY22; ARR increased by 21% in Q3 FY22
Slide 15: Contents
Contents 1 Real Estate performance remains resilient 2 Leasing segment witnesses traction 3 Strong rebound in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 15
Slide 16: Consolidated Financials: Snapshot
Consolidated Financials: Snapshot (INR Mn) 9M FY22 on Q3 FY22 on Q3 FY22 on Particulars 9M FY22 9M FY21 Q3 FY22 Q2 FY22 Q3 FY21 9M FY21 Q2 FY22 Q3 FY21 Revenue 21,008 11,895 77% 9,332 7,761 6,537 20% 43% EBITDA 6,054 3,140 93% 2,697 2,157 1,575 25% 71% Finance costs 3,342 2,568 30% 1,083 1,128 856 (
Slide 17: Business Segment Performance: 9M FY22
Business Segment Performance: 9M FY22 (INR Mn) Particulars Real Estate Lease Rental Hospitality Total Revenue 15,611 4,158 1,239 21,008 as % of Total 74% 20% 6% 100% Direct Expenses 10,702 41 160 10,903 Admin Expenses 609 869 477 1,955 Selling Cost 415 185 51 651 Employee cost 845 273 327 1,445 EBIT
Slide 18: Consolidated Cash Flows
Consolidated Cash Flows (INR Mn) Particulars Q3 FY22 Q2 FY22 Q3 FY21 9M FY22 9M FY21 Operating Activities Total Collections 10,951 9,369 6,819 27,492 15,935 Direct Cost/Construction Cost (4,155) (3,712) (2,676) (11,355) (6,680) Landowner Payments (982) (939) (524) (2,540) (1,235) Employee and Admin
Slide 19: Capital Allocation: Segment-wise as of 31st December 2021
Capital Allocation: Segment-wise as of 31st December 2021 (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) 31% Real Estate 21,042 2,929 23,971 0.14 16% 23,971 18% Hospitality 2,679 5,989 8
Slide 20: Consolidated Debt Profile
Consolidated Debt Profile (INR Mn) Particulars December-21 September-21 December-20 Real Estate 2,929 3,451 6,084 Hospitality 5,989 6,100 5,738 GOP Securitised 4,899 5,015 4,257 Capex 1,090 1,085 1,481 Leasing 32,100 31,725 31,169 Securitised Lease Rental 23,752 23,564 17,193 Capex 8,348 8,161 13,97
Slide 21: Debt Profile & Cost of Borrowing
Debt Profile & Cost of Borrowing Segment Wise Debt (INR Mn) Avg. Cost of Borrowing 3% 7% 12% 9.00% 8.40% Gross Debt – 8.14% 41,018 Mn 7.92% 58% 7.81% 20% 7.00% 7.00% 7.00% 7.00% 7.00% Commercial - LRD Commercial - CAPEX Hospitality - LRD Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Real Estate - CF Hospitalit
Slide 22: Standalone Financial Statement
Standalone Financial Statement (INR Mn) 9M FY22 on Q3 FY22 on Q3 FY22 on Particulars 9M FY22 9M FY21 Q3 FY22 Q2 FY22 Q3 FY21 9M FY21 Q2 FY22 Q3 FY21 Turnover 15,855 9,922 60% 7,139 6,046 5,515 18% 29% EBITDA 4,773 3,197 49% 2,186 1,685 1,514 30% 44% Finance costs 1,092 1,522 (28%) 336 362 506 (7%) (
Slide 23: Contents
Contents 1 Real Estate performance remains resilient 2 Leasing segment witnesses traction 3 Strong rebound in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 23
Slide 24: Brigade’s Land Bank
Brigade’s Land Bank Land Area (in acres) as on 31st December 21 14 2 3 15 Bangalore 18 Chennai Kochi 49 Mysore GIFT City Thiruvananthapuram Gujarat 233 Hyderabad Hyderabad Bengaluru Mysore Chennai Total Land Area Cost of Land Amount Paid Balance Payable Kochi (Acres) (INR Mn) (INR Mn) (INR Mn) Thiru
Slide 25: Developable Area Details
Developable Area Details Product Land Area Project Area (Mn Sft) BEL Share (Mn Sft) Project Area: Location Residential 248 29.5 21.5 Commercial-Sale 12 1.2 0.7 4% 6% Commercial-Lease 53 6.8 6.2 Hotel 21 0.4 0.4 16% Total 334 37.9 28.8 Location Land Area Project Area (Mn Sft) BEL Share (Mn Sft) Benga
Slide 26: Contents
Contents 1 Real Estate performance remains resilient 2 Leasing segment witnesses traction 3 Strong rebound in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 26
Slide 27: Projects Launched: 9M FY22
Projects Launched: 9M FY22 Project Area BEL Economic Interest Project City Segment Quarter Launched (Mn Sft) (Mn Sft) Brigade El Dorado – K Block Bengaluru Residential 0.62 0.62 Q1 Brigade Xanadu Cluster 3 Chennai Residential 0.77 0.47 Q1 Brigade Gem Bengaluru Residential 0.18 0.14 Q2 Brigade Northr
Slide 28: Upcoming Launches
Upcoming Launches Segment Total Area (Mn sft) Brigade Economic Interest (Mn sft) Residential 2.38 1.35 Leasing 1.84 1.01 Total 4.22 2.36 Artists Impression of Brigade Komarla Heights, Bengaluru Artist’s impression of Brigade Laguna, Bengaluru 28
Slide 29: Awards and Accolades – Q3 FY22
Awards and Accolades – Q3 FY22 29
Slide 30: Awards and Accolades – Q3 FY22
Awards and Accolades – Q3 FY22 Commercial Project of the year – World Trade Center Chennai 30
Slide 31: Shareholding Pattern – 31st December 2021
Shareholding Pattern – 31st December 2021 20% Promoter Group 44% FIIs and FPIs Mutual Funds 22% Others 14% 31
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
Slide 33: Ongoing Residential Projects
Ongoing Residential Projects Artist’s impression of Brigade WTC Residences, Chennai Artist’s impression of Brigade Cornerstone Utopia, Bengaluru 33
Slide 34: Ongoing Commercial Projects
Ongoing Commercial Projects Artist’s impression of Brigade Triumph Artist’s impression of Brigade Deccan Heights 34
Slide 35: Completed Projects
Completed Projects Brigade Senate - 1, Bengaluru Brigade Tech Gardens, Bengaluru 35
Slide 36: 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