Slide 1: Exchange filing cover letter
Ref: BEL/NSEBSE/IP/24052023 24th May, 2023 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: BRIGADE/S
Slide 2: Brigade Enterprises Limited Investor Presentation – FY23
Actual shot from Orion Gateway Mall Actual shot from Brigade Triumph, Bangalore BRIGADE ENTERPRISES LIMITED Investor Presentation – FY23 (CIN: L85110KA1995PLC019126) 1
Slide 3: Brigade – A brand that puts values first
Brigade – A brand that puts values first About us Rated [ICRA]AA- Our Core Values (Stable) & Leading property developer of India with CRISIL over 36 years of experience A+/Positive Quality + Customer Business Portfolio of Residential, Fair centricity Commercial, Retail and Hospitality projects + Inn
Slide 4: Segments Highlights – FY23
Segments Highlights – FY23 Real Estate – On Sale Basis • Sales volume was ~2.4 Mn sft with sale value of INR 14,885 Mn in Q4 FY23, a growth of 54% and 47% Revenue Share % respectively over Q3 FY23 • Achieved highest ever pre-sales of ~6.3 Mn sft with sale value of INR 41,085 Mn during FY23, an incre
Slide 5: Our ESG Journey
Our ESG Journey Green ➢ Certified/Delivered Properties : Total 13 properties with 6.37 Mn SFT BUA Building ➢ Pre-certified Properties : Total 12 projects with 8.51 Mn. SFT BUA Portfolio ➢ Properties Proposed : Total 09 properties with 7.25 Mn. SFT BUA ➢ Total Green Building Portfolio : Total 34 prop
Slide 6: Summary: Ongoing Projects
Summary: Ongoing Projects Area in Mn sft Total Project Area Projects Project Area Co Share LO/JV share 1% 7% Real Estate projects for sale in BEL 9.14 5.92 3.22 Brigade Orchards * 0.96 0.48 0.48 Real Estate Lease Rentals Brigade Cornerstone Utopia* 5.04 3.36 1.68 21.30 Mn sft Hospitality Brigade Res
Slide 7: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Resurgence in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 6
Slide 8: Highlights: Real Estate - FY23
Highlights: Real Estate - FY23 • Achieved highest ever pre-sales of ~6.3 Mn sft with a sale value of INR 41,085 Mn during FY23 • Strong pipeline of ongoing projects of ~19.70 Mn sft • Real estate debt reduced to INR 465 Mn as on FY23 from INR 2,718 Mn as on FY22, a reduction of 83%, owing to higher
Slide 9: Group Sales Snapshot
Group Sales Snapshot FY23 Q4 FY23 on Q4 FY23 on Particulars FY 23 FY 22 on FY22 Q4 FY23 Q3 FY23 Q4 FY22 Q3 FY23 Q4 FY22 Net Area Sales (‘000 sft) Residential* 6,075 4,636 31% 2,333 1,455 1,508 60% 55% Commercial 254 80 218% 35 78 40 (55%) (13%) Total 6,329 4,716 34% 2,368 1,533 1,548 54% 53% Net Sal
Slide 10: Yearly Sales Performance – Real Estate
Yearly Sales Performance – Real Estate Net Area Sales ('000 Sft) Net Sales Value (INR Mn) 41,085 6,330 30,227 4,603 4,716 27,666 4,265 23,768 2,965 16,440 8,963 1,566 2018 2019 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023 Achieved highest ever Pre-sales of ~6.3 Mn sft during FY23 9
Slide 11: 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 18.17 1.53 0.22 0.49 20.41 Less: Landowner share 4.90 - - - 4.90 Company share of saleable area 13.27 1.53 0.2
Slide 12: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Resurgence in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 11
Slide 13: Our Leasing Portfolio: Operating Assets
Our Leasing Portfolio: Operating Assets Area in Mn sft Retail 1.24 0.07 Leased Out Office 6.15 1.22 To Be Transacted Particulars Leasable Area Leased To be transacted Brigade Tech Gardens 3.00 2.26 0.74 WTC Chennai 2.01 1.63 0.38 WTC Bengaluru 0.62 0.62 - Brigade Opus 0.30 0.30 - Brigade Bhuwalka Ic
Slide 14: Capex Commitment
Capex Commitment (INR Mn) Project Segment Estimated cost Incurred Balance* Brigade Twin Towers Commercial 5,999 3,167 2,832 Brigade Square, Trivandrum Commercial 756 46 710 IBIS Styles, Mysore Hospitality 900 239 661 Grand Total 7,655 3,452 4,203 *As of Mar 31, 2023 Artist’s impression of Brigade Tw
Slide 15: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Resurgence in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 14
Slide 16: Resurgence in Hospitality Segment
Resurgence in Hospitality Segment • Witnessed impressive revival in occupancy, ARRs, F&B revenue, banquet events, mainly due to restart of international flights and corporate travel • Portfolio occupancy reached 69% during FY23 as against 62% of pre- COVID occupancy Grand Mercure, Mysore Sheraton Gr
Slide 17: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Resurgence in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 16
Slide 18: Consolidated Financials: Snapshot
Consolidated Financials: Snapshot (INR Mn) Q4 FY23 on Q4 FY23 on Particulars Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 FY23 on FY22 Q3 FY23 Q4 FY22 Revenue 8,721 8,586 9,647 2% (10%) 35,632 30,655 16% EBITDA 2,315 2,462 2,276 (6%) 2% 9,776 8,330 17% Finance costs 1,000 1,184 1,094 (15%) (9%) 4,341 4,436 (2%
Slide 19: Business Segment Performance: FY23
Business Segment Performance: FY23 (INR Mn) Particulars Real Estate Lease Rental Hospitality Total Revenue 24,178 7,517 3,937 35,632 as % of Total 68% 21% 11% 100% Direct Expenses 17,750 109 426 18,285 Admin Expenses 1,092 1,257 1,407 3,756 Selling Cost 661 292 179 1,132 Employee cost 1,437 497 749
Slide 20: Consolidated Cash Flows
Consolidated Cash Flows Particulars (All figures in INR Mn) Q4 FY23 Q3 FY23 Q2 FY23 Q1 FY23 FY23 FY22 Operating Activities Total Collections 14,632 13,283 14,220 12,103 54,238 40,827 Direct Cost/Construction Cost (6,188) (6,167) (6,547) (4,860) (23,762) (16,789) Landowner Payments (1,314) (1,165) (1
Slide 21: Capital Allocation: Segment-wise as of 31st Mar 2023
Capital Allocation: Segment-wise as of 31st Mar 2023 (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) 30% Real Estate 22,806 465 23,271 0.02 12% 23,271 14% Hospitality 3,100 5,468 8,568 1.76
Slide 22: Consolidated Debt Profile
Consolidated Debt Profile (INR Mn) Particulars Mar-23 Dec-22 Mar-22 Real Estate 465 770 2,718 Hospitality 5,468 5,798 6,182 GOP Securitised 4,985 4,739 5,332 Capex 483 1,059 850 Leasing 32,363 32,577 32,288 Securitised Lease Rental 28,839 28,236 23,768 Capex 3,524 4,341 8,520 Less: Cash & Cash Equiv
Slide 23: Debt Profile & Cost of Borrowing
Debt Profile & Cost of Borrowing Segment Wise - Gross Debt Split Movement of Brigade’s RoI Vs Repo during FY23 Repo Brigade RoI 13% 1% 8.67% 8.46% 8.09% 1% 7.75% 7.65% 2.17% 9% INR 38,296 Mn 6.50% 3.65% 6.25% 5.40% 76% 4.90% 4.00% Real Estate-CF Commercial-LRD Commercial-Capex Hospitality-Capex Hosp
Slide 24: Standalone Financial: Snapshot
Standalone Financial: Snapshot (INR Mn) Q4 FY23 on Q4 FY23 on FY23 Particulars Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 Q3 FY23 Q4 FY22 on FY22 Turnover 5,744 5,579 7,187 3% (20%) 24,245 23,042 5% EBITDA 1,798 1,506 1,827 19% (2%) 6,798 6,601 3% Finance costs 341 349 335 (2%) 2% 1,344 1,427 (6%) Profit bef
Slide 25: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Resurgence in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 24
Slide 26: Brigade's Land Bank
Brigade’s Land Bank Land Area (in acres) as on 31st Mar 23 10 2 18 Bangalore 78 Chennai Total Land-448 acres Kochi GIFT City Hyderabad Gujarat Hyderabad 340 Bengaluru Chennai Total Land Area Cost of Land Amount Paid Balance Payable Kochi (Acres) (INR Mn) (INR Mn) (INR Mn) 448 19,628 12,608 7,020 25
Slide 27: Developable Area Details
Developable Area Details Product Land Area Project Area (Mn Sft) BEL Share (Mn Sft) Project Area: Product Mix Residential 272 35.1 26.2 3% 1% 2% Plotted development 40 0.8 0.3 Commercial-Lease 59 7.3 6.6 16% Mixed Development 44 1.1 1.1 Commercial-Sale 12 1.5 0.9 Hotel 21 0.4 0.4 2% Project Area - 4
Slide 28: Contents
Contents 1 Robust growth in Real Estate Segment 2 Leasing intact amid global headwinds 3 Resurgence in Hospitality Segment 4 Financial Performance 5 Land bank 6 Projects launched and upcoming launches 27
Slide 29: Projects Launched: FY23
Projects Launched: FY23 Project Area BEL Interest Quarter Project City Segment (Mn Sft) (Mn Sft) Launched 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 Residential 0.32 0.22
Slide 30: Upcoming Launches
Upcoming Launches Segment Total Area (Mn sft) Brigade Economic Interest (Mn sft) Residential 7.54 6.1 Leasing 1.89 1.04 Total 9.43 7.14 Artist’s impression of cricket ground @ Brigade El Dorado Artist’s impression of Brigade Valencia 29
Slide 31: Awards and Accolades – Q4 FY23
Awards and Accolades – Q4 FY23 Orion Mall won three awards at the Retail and Shopping Centre Congress and Awards for Brigade Foundation won the ‘Best CSR Excellence in Shopping Centre and Mall Marketing in 3 categories: Activity’ award at the CREDAI Karnataka CARE Awards 2023 Most Admired Shopping C
Slide 32: Shareholding Pattern – 31st March 2023
Shareholding Pattern – 31st March 2023 17% Promoter Group 44% FIIs and FPIs 25% DIIs Others 14% 31
Slide 33: Board of Directors
Board of Directors M. R. Jaishankar Aroon Raman Pavitra Shankar Nirupa Shankar Amar Mysore Roshin Mathew Executive Chairman Vice Chairman (Non- Managing Director Jt. Managing Director Executive Director Executive Director • Masters in Business Executive Independent • MBA, Real Estate & Finance, • Ma
Slide 34: Ongoing Residential Projects
Ongoing Residential Projects Artist’s impression of Brigade El Dorado Artist’s impression of Pearl @ Brigade Atmosphere 33
Slide 35: Completed Residential Projects
Completed Residential Projects Actual shot from Juniper block@ Brigade Orchards Actual shot from Parkside North 34
Slide 36: Completed Commercial Projects
Completed Commercial Projects Actual shot at BIFC, Gandhinagar Actual shot at WTC, Chennai 35
Slide 37: 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