Brigade Enterprises Limited · NSE:BRIGADE
Brigade Enterprises — 9M FY23 Earnings Presentation
34 slides from Brigade Enterprises's earnings presentation, February 2023
Slide 1: Brigade Enterprises Limited Investor Presentation – 9M FY23
Artist’s impression of Brigade from Artist’s impression Citadel, Hyderabad Citadel-Hyderabad Actual shot at Holiday Inn, RCR, Bangalore BRIGADE ENTERPRISES LIMITED Investor Presentation – 9M FY23 (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 36 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 – 9M FY23
Segments Highlights – 9M FY23 Real Estate – On Sale Basis • Achieved pre-sales of ~1.53 Mn sft, an increase of 29% over Q2 FY23, with sale value of INR 10,097 Mn Revenue Share % during Q3 FY23 • Sales volume increased by 25% to ~4.0 Mn sft during 9M FY23 as compared to 9M FY22 • Achieved Sales Value
Slide 4: Summary: Ongoing Projects
Summary: Ongoing Projects Area in Mn sft Projects Project Area Co Share LO/JV share Total Project Area 7% 1% Real Estate projects for sale in BEL 7.19 4.62 2.57 Brigade Orchards * 1.22 0.61 0.61 Real Estate Lease Rentals Brigade Cornerstone Utopia* 5.04 3.36 1.68 19.20 Mn sft Hospitality Brigade Res
Slide 5: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Continued growth momentum in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 5
Slide 6: Highlights: Real Estate - Q3 FY23
Highlights: Real Estate - Q3 FY23 • Achieved pre-sales of ~1.53 Mn sft with a sale value of INR 10,097 Mn during Q3 FY23 • Strong pipeline of ongoing projects of ~17.79 Mn sft • Real estate debt reduced by 72% during 9M FY23 to INR 770 Mn, owing to higher collections and repayment • Strong pipeline
Slide 7: Group Sales Snapshot
Group Sales Snapshot Q3 FY23 on Q3 FY23 on 9M FY23 Particulars Q3 FY23 Q2 FY23 Q3 FY22 9M FY23 9M FY22 Q2 FY23 Q3 FY22 on 9M FY22 Net Area Sales (‘000 sft) Residential 1,455 1,154 1,083 26% 34% 3,740 3,128 20% Commercial 78 36 7 117% 1014% 218 40 445% Total 1,533 1,190 1,090 29% 41% 3,958 3,168 25%
Slide 8: 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 16.01 1.79 0.24 0.37 18.41 Less: Landowner share 4.27 - - - 4.27 Company share of saleable area 11.74 1.79 0.24
Slide 9: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Continued growth momentum in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 9
Slide 10: Our Leasing Portfolio: Operating Assets
Our Leasing Portfolio: Operating Assets Area in Mn sft Retail 1.22 0.09 Leased Out Office 5.96 1.41 To Be Transacted Particulars Leasable Area Leased To be transacted Brigade Tech Gardens 3.00 2.18 0.82 WTC Chennai 2.01 1.57 0.44 WTC Bengaluru 0.62 0.62 - Brigade Opus 0.30 0.27 0.03 Brigade Bhuwalka
Slide 11: Capex Commitment
Capex Commitment (INR Mn) Project Estimated cost Incurred Balance* Brigade Twin Towers 5,999 2,912 3,087 Total 5,999 2,912 3,087 *As of Dec, 22 Artist’s Artist’s impression impression of Brigade of Brigade Twin Towers Twin Towers, Bengaluru 11
Slide 12: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Continued growth momentum in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 12
Slide 13: Continued growth momentum in Hospitality Segment
Continued growth momentum in Hospitality Segment • Witnessed strong recovery in business travel leading to strong performance • Achieved Revenue of INR 1,006 Mn during Q3 FY23, an increase of 61% from INR 626 Mn in Q3 FY22 Four Points by Sheraton, Kochi Grand Mercure, Bangalore • Further improvement
Slide 14: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Continued growth momentum in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 14
Slide 15: Consolidated Financials: Snapshot
Consolidated Financials: Snapshot (INR Mn) Q3 FY23 on Q2 Q3 FY23 on Q3 9M FY23 on Particulars Q3 FY23 Q2 FY23 Q3 FY22 9M FY23 9M FY22 FY23 FY22 9M FY22 Revenue 8,586 9,122 9,332 (6%) (8%) 26,911 21,008 28% EBITDA 2,462 2,494 2,697 (1%) (9%) 7,461 6,054 23% Finance costs 1,184 1,096 1,083 8% 9% 3,342
Slide 16: Business Segment Performance: 9M FY23
Business Segment Performance: 9M FY23 (INR Mn) Particulars Real Estate Lease Rental Hospitality Total Revenue 18,450 5,641 2,820 26,911 as % of Total 69% 21% 10% Direct Expenses 13,654 34 312 13,999 Admin Expenses 700 909 1,041 2,650 Selling Cost 481 221 124 827 Employee cost 1,050 369 555 1,974 EBI
Slide 17: Consolidated Cash Flows
Consolidated Cash Flows Particulars (INR Mn) Q3 FY23 Q2 FY23 Q3 FY22 9M FY23 9M FY22 Operating Activities Total Collections 13,283 14,220 10,951 39,605 27,492 Direct Cost/Construction Cost (6,167) (6,547) (4,155) (17,574) (11,355) Landowner Payments (1,165) (1,324) (982) (3,586) (2,540) Employee and
Slide 18: Capital Allocation: Segment-wise as of 31st Dec 2022
Capital Allocation: Segment-wise as of 31st Dec 2022 (INR Mn) Capital Employed Operating Capital D/E Ratio PBD*/ Capital EBITDA/ Segmentc Equity (A) Debt (B) Employed (A/B) Equity % Employed OCE % (A+B) 11% (OCE) 27% Real Estate 20,108 770 20,878 0.04 16% 20,878 17% Hospitality 2,637 5,798 8,435 2.2
Slide 19: Consolidated Debt Profile
Consolidated Debt Profile (INR Mn) Particulars Dec-22 Sep-22 Jun-22 Mar-22 Segment Wise Debt (INR Mn) Real Estate 770 1,537 2,133 2,718 2% 2% Hospitality 5,798 5,988 6,124 6,182 12% GOP Securitised 4,739 4,969 5,150 5,332 Capex 1,059 1,019 974 850 Leasing 32,577 32,632 32,698 32,288 11% Securitised
Slide 20: Standalone Financial Statement
Standalone Financial Statement (INR Mn) Q3 FY23 on Q3 FY23 on 9M FY23 Particulars Q3 FY23 Q2 FY23 Q3 FY22 9M FY23 9M FY22 Q2 FY23 Q3 FY22 on 9M FY22 Turnover 5,579 6,309 7,139 (12%) (22%) 18,501 15,855 17% EBITDA 1,506 1,748 2,186 (14%) (31%) 5,000 4,773 5% Finance costs 349 332 336 5% 4% 1,003 1,09
Slide 21: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Continued growth momentum in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 21
Slide 22: Brigade's Land Bank
Brigade’s Land Bank Land Area (in acres) as on 31st Dec 22 10 3 15 18 Bangalore 74 Chennai Kochi Total Land - 478 acres Mysore GIFT City Hyderabad Others Hyderabad 358 Bengaluru Mysore Chennai Total Land Area Cost of Land Amount Paid Balance Payable Kochi (Acres) (INR Mn) (INR Mn) (INR Mn) Thiruvana
Slide 23: Developable Area Details
Developable Area Details Product Land Area Project Area (Mn Sft) BEL Share (Mn Sft) Project Area: Product Mix Residential 279 35.7 26.6 2% 1% 3% Plotted development 62 1.4 0.6 Commercial-Lease 60 7.5 6.8 19% Mixed Development 44 1.1 1.1 Commercial-Sale 12 1.5 0.8 Hotel 21 0.4 0.4 Project Area - 47.6
Slide 24: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Continued growth momentum in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 24
Slide 25: Projects Launched: 9M FY23
Projects Launched: 9M FY23 Project Area BEL Economic Interest Project City Segment Quarter Launched (Mn Sft) (Mn Sft) Brigade Orchards, Neem Grove Bengaluru Residential 0.17 0.08 Q1 Brigade Eldorado. Iridium Block Bengaluru Residential 0.34 0.34 Q1 Brigade Atmosphere, Pearl Block Bengaluru Residenti
Slide 26: Upcoming Launches
Upcoming Launches Segment Total Area (Mn sft) Brigade Economic Interest (Mn sft) Residential 9.00 7.12 Leasing 2.03 1.20 Total 11.03 8.32 Artist’s impression of Brigade El Dorado Artist’s impression of Pearl at Brigade Calista 26
Slide 27: Awards and Accolades – Q3 FY23
Awards and Accolades – Q3 FY23 • Our Chairman, Mr. M R Jaishankar was • Won ‘Digital • Brigade Group was awarded felicitated at the South Indian Hotels and Marketing the “India’s Top Challengers Restaurants Association Awards Campaign of the Award” at Construction Year’ and World Global Awards 2022
Slide 28: Shareholding Pattern – 31st December 2022
Shareholding Pattern – 31st December 2022 20% Promoter Group 44% FIIs and FPIs Mutual Funds 22% Others 14% 28
Slide 29: Board of Directors
Board of Directors M. R. Jaishankar Aroon Raman Pavitra Shankar Nirupa Shankar Amar Mysore Roshin Mathew Executive Chairman Vice Chairman (Non-Exec. Managing Director Jt. Managing Director Executive Director Executive Director • Masters in Business Independent Director) • MBA, Real Estate & Finance,
Slide 30: Ongoing Residential Projects
Ongoing Residential Projects Artist’s impression of Brigade Xanadu, Chennai Artist’s impression of Brigade Laguna, Bangalore 30
Slide 31: Upcoming launches
Upcoming launches Artist’s impression of Brigade Calista, Bangalore Artist’s impression of Brigade Valencia, Bangalore 31
Slide 32: Completed Residential Projects
Completed Residential Projects Artist’s impression of Brigade Bricklane, Bangalore Actual shot at Signature Villas at Brigade Orchards, Bangalore Artist’s impression from Brigade Symphony, Mysore 32
Slide 33: Completed Commercial Projects
Completed Commercial Projects Actual shot at WTC-Kochi Actual shot at Brigade Opus, Bangalore 33
Slide 34: 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