Brigade Enterprises Limited · NSE:BRIGADE
Brigade Enterprises — Q1 FY23 Earnings Presentation
50 slides from Brigade Enterprises's earnings presentation, Aug 2, 2022
Slide 1: Board Meeting Decisions, Investor Presentation and Press Release cover letter
Brigade Enterprises Limited Corporote Identtly Number (CIN) : L85110KA1995PLC019126 Registered Office 29th & 30th Floor, World Trade Center Brigode Gateway Campus. 2611. Dr. Rojkumar Rood Mallesworom - Rojajinagar. Bengoluru 560 055, Indio T: +91 80 4137 9200 Building Posl1lve Experiences E : enquir
Slide 2: Cover letter continuation
—, — — BRIGADE Building Positive Experiences The trading window of the Company was closed from 15 J} uly, 2022 and shall open on 5" August, 2022. The above information is also hosted on the website of the Company at www.brigadegroup.com Kindly take the same on your records. Thanking you, Yours faith
Slide 3: Independent Auditor's Review Report (Consolidated)
S.R. BATLIBOI & ASSOCIATES LLP OB city” Canberra Block Chartered Accountants No. 24, Vittal Mallya Road Bengaluru - 560 001, India Tel : +91 80 6648 9000 Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regu
Slide 4: Independent Auditor's Review Report (continued)
S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants (xxi) Vibrancy Real Estates Private Limited (xxii) Propel Capital Ventures LLP (xxiii) BCV Real Estates Private Limited (xxiv) Tandem Allied Services Private Limited (Associate entity) (xxv) Prestige OMR Ventures LLP (Associate entity) 5. Based on
Slide 5: Statement of Unaudited Consolidated Financial Results
BRIGADE ENTERPRISES LIMITED Corporate Identity Number (CIN): L85110KA199SPLC019126 Regd. Office: 26/1, 29th & 30th Floor, World Trade Center, Dr Rajkumar Roud, Malleswarem-Rajajinagar, Bangalore 560 055 Phone +91-80-41379200, 2221 7017-18 Fax'=91-80-2221 0784 BRIGADE Email enquiry@bngadegroup.com We
Slide 6: Notes to the unaudited consolidated financial results
Notes to the unaudited consolidated financial results for the quarter ended June 30, 2022 i w The above unaudited consolidated financial results of Brigade Enterprises Lumuted (‘the Company”) and its subsidiaries (together referred toas “the Group”) and its associates has been reviewed by the Audit
Slide 7: Notes to the unaudited consolidated financial results
Notes to the i i ial results for the qi ended June 30, 2022 4 wu In zecordance with the Indian Accounting Standard (IND AS) - 33 Earnings Per Share, specified under Section 133 of the Companies Act 2013, read with relevant mules issued thereunder, the impact of employee stock options which are ant:
Slide 8: Independent Auditor's Review Report (Standalone)
S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants No. 24, Vittal Mallya Road Bengaluru - 560 001, India Tel : +91 80 6648 9000 Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Lis
Slide 9: Independent Auditor's Review Report (continued)
S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants 6. The accompanying Statement of quarterly interim standalone financial results includes the reviewed financial results in respect of one LLP whose interim financial results and other financial information reflect total revenues of Rs 50 lakhs, to
Slide 10: Statement of Unaudited Standalone Financial Results
BRIGADE ENTERPRISES LIMITED Corporate Iden umber (CIN): L8S110KA199SPLC019126 Regd. Office 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, = Dr Rajkumar Road, Malleswaram-Rajajinagar, Bangalore 560 055 ——ZA Phone: +91-80-41379200, 22217017-18 Fex:+91-80.2221 0784 — Email enquiry
Slide 11: Notes to the unaudited standalone financial results
Notes to the unaudited standalone financial results for the quarter ended June 30,2022 The above unaudited standalone financial results of Brigade Enterprises Limited (‘the Company") has been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held
Slide 12: Brigade Enterprises Limited – Q1 FY23
Artist’s impression of Brigade Orchards Artist’s impression of Brigade Utopia BRIGADE ENTERPRISES LIMITED Investor Presentation – Q1 FY23 (CIN: L85110KA1995PLC019126) 1
Slide 13: 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 14: 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
Slide 15: 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.
Slide 16: 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
Slide 17: 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
Slide 18: 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
Slide 19: 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
Slide 20: 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
Slide 21: 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
Slide 22: 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
Slide 23: 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
Slide 24: 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
Slide 25: 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
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 15
Slide 27: 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
Slide 28: 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
Slide 29: 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
Slide 30: 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
Slide 31: 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
Slide 32: 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
Slide 33: 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
Slide 34: 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
Slide 35: 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
Slide 36: 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
Slide 37: 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
Slide 38: 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
Slide 39: 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
Slide 40: 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
Slide 41: 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
Slide 42: Shareholding Pattern – 30th June 2022
Shareholding Pattern – 30th June 2022 18% Promoter Group 44% FIIs and FPIs Mutual Funds 25% Others 13% 31
Slide 43: 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 44: Ongoing Residential Projects
Ongoing Residential Projects Artist’s impression of Brigade Laguna Artist’s impression of Brigade Komarla Heights 33
Slide 45: 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
Slide 46: Completed Residential Projects
Completed Residential Projects Artist’s impression of Brigade Woods Artist’s impression of Brigade Parkside North 35
Slide 47: Completed Commercial Projects
Completed Commercial Projects Actual shot at World Trae Center, Chennai Actual shot at Brigade Tech Gardens 36
Slide 48: 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
Slide 49: Press Release: Revenue grows by 135% in Q1 FY23
PRESS RELEASE Brigade Group’s Revenue grows by 135% to %920 Crores in Q1 FY23 PAT after Minority Interest stands at ¥88 Crores Bengaluru, August 2, 2022: Brigade Group reported a revenue of ¥ 920 Crores in Q1 FY23 as compared to % 391 Crores in Q1 FY22, a growth of 135%. PAT after Minority Interest
Slide 50: About Brigade Enterprises
About Brigade Enterprises Established in 1986, Brigade Enterprises Ltd. is one of India’s leading property developers with over three decades of expertise in building positive experiences for all their stakeholders and winning their customers’ trust. Brigade has developed many landmark buildings and