Brigade Enterprises Limited · NSE:BRIGADE
Brigade Enterprises — Q2 FY25 Earnings Presentation
36 slides from Brigade Enterprises's earnings presentation, Nov 13, 2024
Slide 1: Cover letter to stock exchanges
Ref: BEL/NSEBSE/IP/13112024 13th November, 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: BRIG
Slide 2: Investor Presentation – Q2 FY25
Brigade Icon Artist’s impression Investor Presentation – Q2 FY25 (CIN: L85110KA1995PLC019126)
Slide 3: Multiple Domains; Single-Minded Commitment
Offices Retail Multiple Domains; Clubs Hotels Single-Minded Convention 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: 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 5: Transforming City Skylines
Transforming City Skylines 280+ buildings 90+ Mn sq.ft. Delivered 25 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 6: Segment Highlights - Q2 FY25
Segment Highlights - Q2 FY25 Real Estate - On Sale Basis Achieved pre-sales volume of ~1.68 Mn sft in Q2 FY25, a growth of 47% over Q1 FY25 Sales value of INR 18,208 Mn in Q2 FY25, an increase of 68% over Q1 FY25 Avg. price realization stood at INR 10,832 per sq.ft for Q2 FY25, up by 14% from Q1 FY2
Slide 7: ESG Updates - Q2 FY25
ESG Updates - Q2 FY25 Target setting and validation by SBTi: Integration of ESG elements in Implementation of Tech Platform for The strategy has been formulated & the Enterprise Risk Management: ESG Monitoring & Measurement: initiatives in this regard have commenced The initial discussions are in pr
Slide 8: Summary: Ongoing Projects
Summary: Ongoing Projects total project area 10% Area in Mn sft Projects Project Area Co Share LO/JV Share Real Estate Real Estate projects for sale 12.27 8.35 3.92 25.37 Mn sq.ft Lease Rentals 90% Brigade Orchards* 1.18 0.81 0.37 Brigade Cornerstone Utopia* 1.51 1.00 0.51 Brigade Residences at WTC
Slide 9: Contents
Contents 1. Real Estate 2. Leasing 3. Financial Performance 4. Land Bank 5. Projects launched and upcoming launches 8
Slide 10: Highlights: Real Estate - Q2 FY25
Real Estate Highlights: Real Estate - Q2 FY25 Acheived pre-sales volume of ~1.68 Mn sft in Q2 FY25 Sales value of INR 18,208 Mn in Q2 FY25, an increase of 46% over Q2 FY24 Avg. price realization stood at INR 10,832 per sq.ft for Q2 FY25, up by 45% from Q2 FY24 Ongoing projects of 23 Mn sft; resident
Slide 11: Group Sales Snapshot
Real Estate Group Sales Snapshot H1 FY25 on Q2 FY25 on Q2 FY25 on Particulars H1 FY25 H1 FY24 Q2 FY25 Q1 FY25 Q2 FY24 H1 FY24 Q1 FY25 Q2 FY24 Net Area Sales (’000 sft) Residential 2,679 3,102 (14%) 1,556 1,123 1,652 39% (6%) Commercial 147 28 425% 125 22 21 468% 495% Total 2,826 3,130 (10%) 1,681 1,
Slide 12: Consolidated Synopsis of Real Estate Projects
Real Estate Consolidated Synopsis of Real Estate Projects Ongoing BEL Ongoing SPV Particulars Stock Total Projects Projects* Mn sft BEL SPV* Total super built-up area of launched projects on sale basis 21.30 1.53 0.30 0.31 23.44 Less: Landowner share 4.43 - - - 4.43 Company share of saleable area 16
Slide 13: Contents
Contents 1. Real Estate 2. Leasing 3. Financial Performance 4. Land Bank 5. Projects launched and upcoming launches 12
Slide 14: Our Leasing Portfolio: Operating Assets
Leasing Our Leasing Portfolio: Operating Assets Area in Mn sft Retail 1.24 0.07 Leased 0.16 Hard Options Office 7.06 0.17 To be Leased Particulars Leasable Area Leased Hard Option To be Leased Brigade Tech Gardens* 3.00 2.84 0.16 - WTC Chennai* 2.01 1.88 - 0.13 WTC Bengaluru 0.62 0.62 - - Brigade Op
Slide 15: Capex Commitment - Sept-24
Capex Commitment - Sept-24 (INR Mn) Project Estimated Cost Incurred Balance* Brigade Twin Towers - Tower A & C 3,597 2,772 825 Brigade Square, Thiruvananthapuram 756 282 474 Brigade Tech Boulevard, Chennai 4,018 607 3,401 Brigade Padmini Tech Valley-Block B 2,942 494 2,448 Total 11,313 4,165 7,148 *
Slide 16: Contents
Contents 1. Real Estate 2. Leasing 3. Financial Performance 4. Land Bank 5. Projects launched and upcoming launches 15
Slide 17: Consolidated Financials: Snapshot
Consolidated Financials: Snapshot (INR Mn) Q2 FY25 Q2 FY25 H1 FY25 H1 FY24 H1 FY25 Particulars Q2 FY25 Q1 FY25 Q2 FY24 on Q1 FY25 on Q2 FY24 on H1 FY24 Revenue 11,381 11,134 14,079 2% (19%) 22,515 20,933 8% EBITDA 3,580 3,282 3,662 9% (2%) 6,862 5,724 20% Finance cost 1,227 1,519 1,101 (19%) 11% 2,7
Slide 18: Business Segment Performance - H1 FY25
Business Segment Performance - H1 FY25 (INR Mn) Particulars Real Estate Lease Rental Revenue 14,597 5,544 Direct Expenses 10,016 62 Admin Expenses 761 916 Selling cost 741 165 Employee cost 1,071 321 EBITDA 2,008 4,080 EBITDA/Revenue % 14% 74% Finance costs 311 2,139 PBDT 1,697 1,941 Depreciation 55
Slide 19: Consolidated Cash Flows
Consolidated Cash Flows Particulars (All amounts in INR Mn) Q2 FY25 Q1 FY25 H1 FY25 H1 FY24 Operating Activities Total Collections 19,365 16,070 35,435 26,832 Direct Cost/ Construction Cost (5,823) (6,176) (11,999) (11,076) Landowner Payments (2,660) (2,296) (4,956) (3,099) Employee and Admin Expens
Slide 20: Capital Allocation: Segment-wise - Q2 FY25
Capital Allocation: Segment-wise - Q2 FY25 (INR Mn) Operating Capital Capital Segment Equity (A) Debt (B) Employed D/E Ratio PBD*/ EBITDA/ (A/B) Equity % Employed OCE % (A+B) (OCE) Real Estate 33,621 1,925 35,546 0.06 14% 35,546 15% Leasing 20,262 39,677 59,939 1.96 18% 41,494 18% Note: PBD/Equity a
Slide 21: Consolidated Debt Profile
Consolidated Debt Profile (INR Mn) Particulars Sept-24 Jun-24 Sept-23 Gross Debt 46,404 47,587 40,971 Less: Cash & Cash Equivalents 37,837 21,032 15,701 Net Debt 8,567 26,555 25,270 Less: SPV Partner’s share of net debt 7,792 7,217 9,352 Exposure of BEL 775 19,338 15,918 Cost of Debt (Consolidated)
Slide 22: Standalone Financial: Snapshot
Standalone Financial: Snapshot (INR Mn) Q2 FY25 Q2 FY25 H1 FY25 Particulars Q2 FY25 Q1 FY25 Q2 FY24 H1 FY25 H2 FY24 on Q1 FY25 on Q2 FY24 on H1 FY24 Turnover 5,158 5,775 4,963 (11%) 4% 10,933 8,551 28% EBITDA 1,665 1,541 1,481 8% 12% 3,206 2,501 28% Finance cost 339 476 323 (29%) 5% 815 642 27% Prof
Slide 23: Contents
Contents 1. Real Estate 2. Leasing 3. Financial Performance 4. Land Bank 5. Projects launched and upcoming launches 22
Slide 24: Brigade’s Land Bank
Brigade’s Land Bank Total Land Area Cost of Land Amount Paid Balance Payable (Acres) (INR Mn) (INR Mn) (INR Mn) gift city 480 28,358 20,357 8,001 hyderabad bengaluru CHENNAI mysuru kochi Note: Due to publicity restrictions as indicated in slide 5, the information relating to hospitality segment is c
Slide 25: Developable Area Details
Developable Area Details Project Area: Product Mix 4% Product Land Area Project Area (Mn sft) BEL Share (Mn sft) Residential 361 41 30 16% Commercial-Lease 53 9 7 Mixed Development 66 2 2 Total 480 52 39 project area - 52 Mn sft Location Land Area Project Area (Mn sft) BEL Share (Mn sft) Bengaluru 3
Slide 26: Contents
Contents 1. Real Estate 2. Leasing 3. Financial Performance 4. Land Bank 5. Projects launched and upcoming launches 25
Slide 27: Projects Launched - H1 FY25
Projects Launched - H1 FY25 Project Area BEL Interest Project City Segment (Mn sft) (Mn sft) Brigade Insignia Residential 0.88 0.88 Brigade El Dorado – Cobalt Bengaluru Residential 0.51 0.51 Brigade Padmini - Tower B Commercial 0.73 0.37 Brigade Residences at WTC - Nebula Residential 0.07 0.04 Chenn
Slide 28: Upcoming Projects
Upcoming Projects Segment Total Area Brigade Economic Interest (Mn sft) (Mn sft) Residential 12.93 10.47 Commercial 3.07 2.23 Total 16.00 12.70 Brigade Padmini Tech Valley Elysium at Brigade Cornerstone Utopia Artist’s impression Artist’s impression Note: Due to publicity restrictions as indicated i
Slide 29: Awards and Accolades – Q2 FY25
Awards and Accolades – Q2 FY25 Executive Chairman, M R Jaishankar, has been honored Executive Chairman, M R Jaishankar, has been honored Brigade Group has been recognised with the ‘Lifetime Achievement Award’ by CNBC Awaaz with the 'Real Estate Visionary of the Decade' Award by as one of ‘India’s To
Slide 30: Shareholding Pattern – 30 Sept 2024
16% Shareholding Pattern th – 30 Sept 2024 24% 41% 19% Promoter Group FIIs and FPIs DIIs Others 29
Slide 31: Board of Directors
Board of Directors M R Jaishankar Pavitra Shankar Nirupa Shankar Amar Mysore Roshin Mathew Pradyumna Executive Chairman Managing Director Jt. Managing Director Executive Director Executive Director Krishnakumar Executive Director • Masters in Business • MBA, Real Estate & Finance, • Masters of Manag
Slide 32: Board of Directors
Board of Directors Lakshmi Pradeep Kumar Dr. Venkatesh Bijou Kurien V V Ranganathan Abraham Stephanos Independent Director Independent Director Independent Director Venkatachalam Panja Panchapagesan Independent Director Independent Director Independent Director • MBA from Boston University • Masters
Slide 33: Ongoing Residential Projects
Ongoing Residential Projects Brigade Insignia Brigade Valencia Artist’s impression Artist’s impression 32
Slide 34: Completed Residential Projects
Completed Residential Projects Brigade Gem Brigade El Dorado Artist’s impression Actual shot 33
Slide 35: Completed Commercial Projects
Completed Commercial Projects Brigade Deccan Heights BuzzWorks, Hyderabad, Hitec city Actual shot Actual shot 34
Slide 36: 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