Brigade Group Investor Presentation Q4 FY

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Transcription:

Brigade Group Investor Presentation Q4 FY 2014 15 (CIN: L85110KA1995PLC019126)

Q4 FY 15 Key Highlights Consolidated FY 2014 15 Revenue of Rs. 13.31 Bn (38% Y o Y increase) and PAT of Rs. 1.15 Bn (29% Y o Y increase) Standalone FY 2014 15 Revenue of Rs. 10.08 Bn (10% Y o Y increase) and PAT of Rs. 0.7 Bn (22% Y o Y decrease) Standalone Q4 FY 2014 15 Revenue of Rs. 3.07 Bn (51% Q o Q increase) and PAT of Rs. 0.3 Bn (162% Q o Q increase) Projects with total saleable area of 1.2 Mn sft were launched during the fourth quarter, which include Brigade Panorama I (0.7 mn sft) and Brigade Cosmopolis Ph II (0.37 mn sft) Our project Wisteria at Brigade Meadows reached revenue recognition during the quarter Unrecognized Revenue on Ongoing Real Estate projects (including unsold) stands at Rs. 53.6 Bn 2

Brigade Group Business Overview Real Estate Executed over 20 million sft of residential & commercial projects Ongoing projects of over 16 million sft expected to be delivered in the next 3 3.5 years Unrecognized Revenue of Ongoing projects (including unsold units) stands at Rs. 53.6 Bn Pioneer in integrated enclaves Flagship project Brigade Gateway, the most integrated City centric development in India Lease Rental Portfolio of 1.63 million sft of completed commercial & retail projects (over 96% leased) Portfolio includes marquee assets like the iconic WTC Bangalore and Orion Mall Over 1.1 million sft of assets under construction and expected to be completed in the next 2 3 years Office tenants include Amazon, KPMG, Coca Cola, Siemens, Samsung, Mckinsey among others Retail tenants include PVR Cinemas, West Side, Landmark, Zara, Bangalore Central among others Hospitality Portfolio of two best inclass performing 5 Star hotels in Bangalore. Sheraton Bangalore at Brigade Gateway 230 Keys and Grand Mercure Bangalore 126 Keys Three hotels and a high end club under construction 672 keys; to be delivered in the next 2 years Tie ups with leading global hotel management companies to manage our hotels Partnering brands include Sheraton, Grand Mercure, Holiday Inn, Holiday Inn Express among others 3

Consolidated Financials Snapshot Turnover EBITDA Amounts in Rs. Mn 13,308 14,000 12,000 10,000 8,000 9,667 5,000 4,000 3,000 3,184 4,030 6,000 4,000 2,000 FY 2014 FY 2015 2,000 1,000 FY 2014 FY 2015 PAT Growth % 1,200 1,000 890 1,150 40% 30% 38% 27% 29% 800 600 20% 400 200 10% FY 2014 FY 2015 0% Turnover EBITDA PAT 4

Consolidated Financials Snapshot Particulars FY 2015 FY 2014 FY 2015 on FY 2014 Q4 FY15 Q3 FY15 Q4 FY14 Q4 FY15 on Q3 FY15 Q4 FY15 on Q4 FY14 Turnover 13,308 9,667 38% 3,538 4,116 4,070 14% 13% EBITDA 4,030 3,184 27% 1,356 1,138 1,084 19% 25% Interest 1,314 1,131 16% 491 283 228 73% 116% Profit after Int 2,717 2,054 32% 865 856 856 1% 1% Depreciation 992 818 21% 213 280 199 24% 7% PBT 1,725 1,236 40% 652 576 657 13% 1% Tax 575 346 66% 218 131 163 67% 34% PAT 1,150 890 29% 434 445 494 2% 13% PAT after MI 952 920 3% 405 277 494 46% 19% EBITDA/Sales 30% 33% 38% 28% 27% PBT/Sales 13% 13% 18% 14% 16% PAT/Sales 9% 9% 12% 11% 12% Amount in Rs. Mn 5

Standalone Financials Snapshot Particulars FY 2015 FY 2014 FY 2015 on FY 2014 Q4 FY15 Q3 FY15 Q4 FY14 Q4 FY15 on Q3 FY15 Q4 FY15 on Q4 FY14 Turnover 10,080 9,158 10% 3,070 2,036 3,942 51% 22% EBITDA 3,153 3,019 4% 986 645 1,083 53% 9% Interest 1,146 1,024 12% 323 283 235 14% 37% Profit after Int 2,007 1,995 1% 663 362 848 83% 22% Depreciation 920 765 20% 191 259 194 26% 2% PBT 1,087 1,230 12% 472 102 654 361% 28% Tax 387 332 16% 175 (11) 162 1658% 8% PAT 700 898 22% 298 114 492 162% 39% EBITDA/Sales 31% 33% 32% 32% 27% PBT/Sales 11% 13% 15% 5% 17% PAT/Sales 7% 10% 10% 6% 12% Amount in Rs. Mn 6

Consolidated Segment Profit Analysis Contribution to Total Revenue For 12 months ended March 2015 Contribution to Gross Profit Hospitality 12% Lease Rentals 14% Real Estate 74% Lease Rentals 23% Hospitality 19% Real Estate 58% Contribution to EBITDA Contribution to PBT Lease Rentals 33% Hospitality 14% Real Estate 53% Hospitality Lease Rentals 3% 20% Real Estate 77% 7

Consolidated Segment Profit Analysis 12 Months ending March 2015 Amount in Rs. Mn Particulars Real Estate Hospitality Lease rentals Total Revenue 9,839 1,628 1,842 13,308 Expenses 5,488 202 146 5,836 Gross profit 4,351 1,425 1,696 7,472 Gross profit Margin % 44% 88% 92% 56% Admin Expenses 1,017 551 296 1,864 Employee cost 677 318 53 1,048 EBIDTA 2,154 555 1,321 4,030 EBIDTA / Revenue % 22% 34% 72% 30% Interest 766 115 433 1,314 Profit after interest 1,389 440 888 2,717 Depreciation 69 382 541 992 PBT 1,319 58 347 1,725 PBT / Revenue % 13% 4% 19% 13% Income Tax 575 PAT 1,150 8

Standalone Segment Profit Analysis 12 Months ending March 2015 Amount in Rs. Mn Particulars Real Estate Hospitality Lease rentals Total Revenue 7,220 1,238 1,623 10,080 Expenses 3,951 103 141 4,195 Gross profit 3,269 1,135 1,481 5,862 Gross profit Margin % 45% 92% 91% 58% Admin Expenses 785 413 117 1,316 Employee cost 661 201 25 886 EBIDTA 1,320 519 1,314 3,153 EBIDTA / Revenue % 18% 42% 81% 31% Interest 598 115 433 1,146 Profit after interest 722 404 880 2,007 Depreciation 46 337 537 920 PBT 676 68 343 1,087 PBT / Revenue % 9% 5% 21% 11% Income Tax 387 PAT 700 9

Consolidated Cash Flows Direct Method Cash Flows Amount in Rs. Mn Particulars FY 2014 15 Q4 FY 2014 15 Operating Activities Total Collections 14,756 3,825 Construction Cost 8,200 2,627 Employee and Admin Expenses 1,961 554 Sales & Marketing Expenses 739 248 Statutory Payments 1,108 273 Other Expenses & Payments 947 299 Net Cash Flow from Operating Activities 1,802 177 Contd. 10

Consolidated Cash Flows (Contd.) Investment Activities Amount in Rs. Mn Particulars FY 2014 15 Q4 FY 2014 15 Investments Matured 475 475 Construction Cost (CWIP) 2,438 791 Investment in BPPL 510 510 Investment in Land/JD/JV/TDR 3,519 1,744 Other Investments 411 141 Net Cash Flow from Investment Activities 6,403 2,711 Financing Activities Debt Drawdown 7,326 3,698 Share Issue / Debenture Issue 1,063 192 Dividend Payment 224 0 Debt Repayment 2,129 608 Interest Payment 1,229 338 Net Cash Flow from Financing Activities 4,806 2,944 Net Cash Flows for the Period 205 57 11

Standalone Cash Flows Direct Method Cash Flows Amount in Rs. Mn Particulars FY 2014 15 Q4 FY 2014 15 Operating Activities Total Collections 11,154 2,891 Construction Cost 6,245 2,001 Employee and Admin Expenses 1,270 359 Sales & Marketing Expenses 588 198 Statutory Payments 747 184 Other Expenses & Payments 879 287 Net Cash Flow from Operating Activities 1,426 137 Contd. 12

Standalone Cash Flows (Contd.) Investment Activities Amount in Rs. Mn Particulars FY 2014 15 Q4 FY 2014 15 Investments Matured / Inter Company 35 30 Construction Cost (CWIP) 2,173 705 Investment in BPPL 510 510 Investment in Land/JD/JV/TDR 1,277 633 Other Investments 211 86 Net Cash Flow from Investment Activities 4,136 1,904 Financing Activities Debt Drawdown 6,108 3,083 Share Issue / Debenture Issue 25 4 Dividend Payment 224 0 Debt Repayment 2,028 579 Interest Payment 1,151 316 Net Cash Flow from Financing Activities 2,729 2,192 Net Cash Flows for the Period 19 151 13

Deployment of Funds Consolidated Capital Employed Profitability Ratios 30% 26% Lease Rental 35% Real Estate 56% 25% 20% 15% 10% 16% 21% 14% 21% 13% Real Estate Hospitality Lease Rental Hospitality 9% 5% 0% PBD/Equity % EBITDA/CE % Figures as on March 2015; Amounts are in Rs. Mn Segment Equity Debt Capital Employed D/E Ratio PBD/Equity % EBITDA/CE % Real Estate 8,834 7,278 16,112 0.82 16% 14% Hospitality 1,704 970 2,674 0.57 26% 21% Lease Rental 4,206 5,696 9,902 1.35 21% 13% Total 14,744 13,944 28,688 0.95 18% 14% Less: Cash Balance 1,403 Net Debt 12,541 Ratios are annualised; PBD = Profit Before Depreciation & Tax (After Interest) 14

Deployment of Funds Standalone Capital Employed Profitability Ratios 30% 25% Lease Rental 38% Real Estate 52% 25% 20% 15% 10% 21% 10% 10% 20% 13% Real Estate Hospitality Lease Rental Hospitality 10% 5% 0% PBD/Equity % EBITDA/CE % Figures as on March 2015; Amounts are in Rs. Mn Segment Equity Debt Capital Employed D/E Ratio PBD/Equity % EBITDA/CE % Real Estate 7,426 5,748 13,174 0.77 10% 10% Hospitality 1,603 970 2,573 0.61 25% 20% Lease Rental 4,137 5,696 9,833 1.38 21% 13% Total 13,166 12,414 25,580 0.94 15% 12% Less: Cash Balance 762 Net Debt 11,652 Ratios are annualised; PBD = Profit Before Depreciation & Tax (After Interest) 15

Debt & Cost Movement 14,000 Debt 12,000 13.55% 13.86% 10,000 8,537 8,508 8,000 Interest Rate 9,850 9,815 9,226 9,168 13.31% 8,813 12.78% 13.11% 13.06% Standalone figures; Amount in Rs. Mn 14.50% 12,414 14.00% 9,992 13.50% 8,910 8,637 8,308 8,433 13.00% 8,380 6,000 12.38% 12.46% 12.27% 12.19% 12.16% 12.14% 12.19% 11.86% 12.50% 12.00% 4,000 11.50% 2,000 11.00% Dec 11 Jun 12 Dec 12 Jun 13 Dec 13 Jun 14 Dec 14 10.50% Conservative leverage & consistent improvement in cost of debt 16

Credit Rating ICRA A CRISIL A ICRA A ICRA BBB+ ICRA BBB ICRA BBB Jul 09 Jan 10 Jul 10 Jan 11 Jul 11 Jan 12 Jul 12 Jan 13 Jul 13 Jan 14 Jul 14 Consistent improvement in Credit Rating 17

Sales Volume Analysis All figures are in sft 000 900 800 700 600 500 400 300 200 100 Quarterly Area Sales Residential Commercial 83 51 31 5 132 203 16 715 678 723 761 700 473 394 462 Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15 Q4 FY15 FY 2013 14 FY 2014 15 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Residential 715 678 473 394 2,260 462 723 761 700 2,646 Commercial 0 31 132 203 366 16 83 51 5 155 Total 715 709 605 597 2,626 478 806 812 704 2,801 Residential Sale volumes in FY 2014 15 were 17% higher than previous year 18

Sales Value Analysis 5,000 Residential Quarterly Sales Value Commercial 4,000 3,000 2,000 1,000 218 3,345 3,364 1,016 2,579 928 91 1,994 2,387 507 270 3,580 3,882 41 3,457 Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15 Q4 FY15 All Amounts in Rs. Mn except Average Rate/SFT which is in Rs. FY 2013 14 FY 2014 15 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Residential 3,345 3,364 2,579 1,994 11,282 2,387 3,580 3,882 3,457 13,306 Commercial 218 1,016 928 2,162 91 507 270 41 910 Total 3,345 3,582 3,595 2,922 13,444 2,478 4,087 4,152 3,498 14,216 Avg Rate/SFT 4,678 5,050 5,946 4,892 5,119 5,187 5,071 5,111 4,967 5,076 % Inc in Ave Rate 6% 8% 18% 18% 22% 6% 2% 1% 3% 1% Residential Sale value in FY 2014 15 were 18% higher than previous year 19

Ongoing Projects Summary Area in 000 SFT Projects Project LO/JV Area share Co Share Real Estate projects 12,716 2,494 10,222 Brigade Orchards * 2,433 1,216 1,216 Brigade Cosmopolis * 1,206 591 615 Total Real Estate 16,355 4,302 12,053 Brigade Nalapad Centre 524 262 262 Brigade Orion East 267 118 150 Brigade Vantage, Mysore 131 66 66 Brigade Vantage Chennai 133 66 66 Brigade Bhuwalka Icon 376 188 188 Brigade Broadway 125 88 38 Brigade Info Park, Kochi 388 388 Total Lease Rental 1,943 787 1,157 Holiday Inn Chennai* 229 114 114 Brigade Orchards Signature Club* 89 45 45 Mercure, Mysore 105 105 Holiday Inn Express 169 169 Total Hospitality 591 159 433 Grand Total 18,890 5,248 13,643 Total Project Area * Through SPV Hospitality 3% Lease Rental 10% Hospitality 3% Lease Rental 9% Real Estate 87% Company Share Project Area Residential 88% 20

Synopsis of Ongoing Projects Mar 2015 Particulars Ongoing BEL Ongoing Stock Projects SPV Projects Sales Total In Mn. Sft Total super built up area of launched project on sale basis 12.72 3.64 0.09 16.45 Less: LO Share 2.49 0 0 2.49 Co share of saleable area 10.22 3.64 0.09 13.95 Sold till date 5.69 1.98 0 7.67 To be sold 4.53 1.66 0.09 6.28 Rs. In Mn Estimated Sale value 49,793 18,459 793 69,044 Value of Sold units 25,546 9,677 0 35,223 Value of unsold units 24,246 8,782 793 33,821 Collection till date on sold units 16,193 3,588 0 19,781 Balance collection for the projects (including unsold units) A 33,600 14,871 793 49,264 21

Synopsis of Ongoing Projects Contd. Particulars Ongoing BEL Projects Ongoing SPV Projects Rs. In Mn Stock Sales Total Revenue Recognised till date 12,341 3,100 0 15,441 Revenue to be Recognised (incl unsold units) 37,451 15,359 793 53,603 Estimated cost for the projects (incl Land/NRD) 35,344 13,508 406 49,258 Cost incurred till date 15,854 6,154 406 22,414 Balance cost to be incurred to finish the project B 19,491 7,354 0 26,844 Estimated Profit for the projects 14,448 4,951 386 19,786 Profit recognised till date 3,205 623 0 3,828 Profit to be recognised (incl unsold units) 11,244 4,328 386 15,958 Present Borrowings C 5,748 1,529 0 7,278 Operating Cash Flows D=(A B C) 8,361 5,988 793 15,142 Period of realization 3 Years 3 Years 6 Months 22

Lease Position March 15 To be Leased Leased out 618 117 789 33 Leasable Area 645 117 818 1040 0 200 400 600 800 1000 1200 1400 1600 1800 WTC South Parade Orion Mall Solitaire Others Area in 000 SFt Project Leasable Area Leased out To be Leased WTC Bangalore 645 618 27 Brigade South Parade 117 117 0 Orion Mall at Brigade Gateway 818 789 29 Brigade Solitaire 10 7 4 Others 40 33 7 Total 1,630 1,563 67 In addition to the World Trade Center in Bangalore, Brigade Group also holds the exclusive License for World Trade Centers at Kochi, Hyderabad, Chennai & Thiruvananthapuram 23

Hospitality Business GRAND MERCURE SHERATON Details FY 14 15 FY 13 14 FY 14 15 FY 13 14 No of Keys 126 126 230 230 Occupancy 78% 86% 72% 75% ARR (Rs.) 6,757 6,558 7,811 7,633 GOP 48.5% 50.7% 41.0% 40.8% 24

Location Land Bank Group Land Area (in acres) As on March 2015 Amount in Rs. Mn Total Cost* Paid Payable Bangalore 262 8,233 6,504 1,729 Chennai 57 775 430 345 Kochi 22 281 281 Mangalore 29 54 46 7 GIFT, Gujarat 12 1,200 299 901 Mysore 20 94 83 11 Total 401 10,637 7,644 2,993 * Includes Refundable/Non Refundable Deposits for Joint Developments GIFT City Hyderabad GIFT, 12 Mysore, 20 Mangalore 29 Kochi, 22 Chennai, 57 Bangalore, 262 Mangalore Kochi Mysore Chennai Bangalore 25

Land Bank Developable Area Project Area Product Commercial Lease 30% Residential 34 21.1 15.6 Commercial Sale 4 1.4 0.8 Commercial Lease 11 10.1 8.2 Retail 3 0.8 0.7 Hotel 5 0.7 0.7 Total 57 34.1 26.0 Commercial Sale 4% Hotel 2% Retail 2% Residential 62% As on March 2015 Project Area Location GIFT 7% Mangalore 5% Cochin 5% Chennai 6% Mysore 7% Bangalore 70% Product No of Projects Proj Area SFT in Mn BEL Share SFT in Mn Location No of Projects Proj Area SFT in Mn BEL Share SFT in Mn Bangalore 40 24.2 18.5 Chennai 3 4.5 2.5 Cochin 3 0.6 0.6 Mangalore 3 2.9 2.8 GIFT 4 1.1 1.1 Mysore 4 0.8 0.6 Total 57 34.1 26.0 26

Projects Launched FY 2014 15 Project City Land Area Project Area BEL Share In Acres Sft in Mn Sft in Mn Launch Plan / Status Brigade Exotica Tower 2 Bangalore 5.26 0.72 0.72 Launched in Q1 Brigade Omega Tower A Bangalore 2.46 0.31 0.19 Launched in Q1 Brigade Meadows Phase 2 Bangalore 14.99 0.88 0.88 Launched in Q1 Brigade Orchards Cedar Bangalore 5.00 0.50 0.25 Launched in Q2 Brigade Orchards Deodar Bangalore 6.00 0.55 0.28 Launched in Q2 Brigade Mount view Mysore 4.00 0.42 0.42 Launched in Q3 Brigade Northridge Phase I Bangalore 7.30 0.61 0.40 Launched in Q3 Brigade Panorama Bangalore 5.63 0.70 0.52 Launched in Q4 Brigade Cosmopolis II Bangalore 2.45 0.37 0.19 Launched in Q4 Residential Total 53.09 5.06 3.85 Total 5.06 Mn sft (BEL Share 3.85 Mn sft) of Residential projects launched in FY 2014 15 27

Projects Launched FY 2014 15 Project City Land Area Project Area BEL Share In Acres Sft in Mn Sft in Mn Launch Plan / Status Brigade Golden Triangle Signature Tower Bangalore 5.41 0.55 0.39 Launched in Q3 Commercial Sale Total 5.41 0.55 0.39 Brigade Bhuwalka Icon Bangalore 2.61 0.29 0.15 Launched in Q1 Brigade Bhuwalka Retail Bangalore 0.74 0.08 0.04 Launched in Q1 Brigade Broadway Bangalore 0.73 0.13 0.04 Launched in Q4 Total Commercial & Retail 4.08 0.50 0.23 Holiday Inn Express, Bangalore Bangalore 1.19 0.17 0.17Launched in Q2 Hospitality Total 1.19 0.17 0.17 Grand Total 63.77 6.28 4.64 Overall 6.28 Mn sft (BEL Share 4.64 Mn sft) of projects were launched in FY 2014 15 28

Projects to be Launched FY 2015 16 Project City Land Area Projec t Area BEL Share Launch Plan Acres Mn sft Mn sft Brigade Omega II Residential Bangalore 8.4 0.87 0.55 Q1 B. Orchards Assisted Living Residential Bangalore 0.7 0.05 0.02 Q1 Brigade Palmgrove apartments Residential Mysore 2.5 0.14 0.10 Q1 B. Oak Tree Place Residential Bangalore 18.6 0.34 0.24 Q2 B. Metropolis Chennai Ph 1 Residential Chennai 11.9 0.77 0.46 Q2 B. Orchards Survey 41 Phase I Residential Bangalore 5.1 0.70 0.35 Q2 B. Meadows Begonia Residential Bangalore 17.5 0.90 0.90 Q2 B. Panorama II Residential Bangalore 5.2 0.65 0.48 Q3 B. GIFT, Gujarat Residential Gujarat 3.7 0.34 0.34 Q3 B. Pinnacle II Residential Mangalore 4.0 0.42 0.29 Q3 Brigade Topaz Residential Mysore 1.2 0.09 0.06 Q3 B. Cosmopolis Phase III Residential Bangalore 2.2 0.33 0.17 Q3 Brigade Northridge II Residential Bangalore 1.4 0.16 0.10 Q4 Residential Total 82.2 5.75 4.07 Total 5.75 Mn sft (BEL Share 4.07 Mn sft) of Residential projects to be launched in FY 2015 16 29

Projects to be Launched FY 2015 16 Project City Land Area Project Area BEL Share Launch Plan Acres Mn sft Mn sft B. Orchards Comml & Retail Commercial Sale Bangalore 2.8 0.24 0.12 Q3 B. Meadows Commercial Commercial Sale Bangalore 1.3 0.07 0.07 Q1 Commercial Sale Total 4.1 0.30 0.20 Brigade Opus Commercial Lease Bangalore 2.3 0.32 0.32 Q1 WTC Kochi Phase 2 Commercial Lease Cochin 2.5 0.39 0.39 Q1 GIFT, Gujarat Commercial Lease Gujarat 2.9 0.26 0.26 Q3 Orion OMR Retail Bangalore 3.5 0.35 0.25 Q3 Total Commercial & Retail 11.1 1.30 1.20 Four Points by Sheraton Hotel Cochin 0.9 0.10 0.10 Q2 GIFT, Gujarat Hotel Gujarat 1.1 0.10 0.10 Q3 Holiday Inn Express, Metagalli Hotel Mysore 1.4 0.13 0.13 Q4 Hospitality Total 3.4 0.30 0.30 Grand Total 100.8 7.70 5.79 Overall 7.70 Mn sft (BEL Share 5.79 Mn sft) of projects to be launched in FY 2015 16 30

Awards & Recognition Q4 FY 15 Brigade Group won 4 awards across various categories at the CARE Awards (CREDAI Real Estate Awards) held on 27th March 2015 at ITC Gardenia, Bangalore: Mr. M R Jaishankar, CMD,BrigadeGroupwasgivenanawardfor Outstanding contribution to the Real Estate Sector Brigade Group received the Best CSR work by a Developer for the redevelopment of the Kempegowda Playground in Malleswaram and Skywalk on Dr. Rajkumar Road Brigade Sparkle won the Best Dwelling below 1500 sqft (Residential) insouth Karnataka Brigade Rubix won the Best Commercial Complex inbangalore Brigade Group selected as one of India s Best Companies to Work For 2014 by Economic Times and Great Place to Work Institute, for the fourth consecutive year Mr. Suresh Kris, CFO Brigade Group was recognized as one of the Top 100 CFO s in the country for 2015 by the CFO India Magazine Ms. Nirupa Shankar was awarded the Rising Star Award South Asia by the International Society of Hospitality Consultants (ISHC) at the Hotel Investment Forum India (HIFI) in Delhi 31

Awards & Recognition Q4 FY 15 Mr. Manjunath Prasad, COO Projects was awarded the Most Enterprising Real Estate Professional of the year at the Global Real Estate Brand awards 2015 Orion Mall won the Best Shopping Mall of the year in South India at the Indian Retail & eretail Awards 2015 Orion Mall received IMAGES Most Admired Shopping Centre of the Year: South and IMAGES Most Admired Shopping Centre Marketing & Promotions of the Year South, at the IMAGES Shopping Centre Awards 2015 HIGH won the IMAGES Most Admired Food Service Retail Launch of the Year: Home Grown Retailer at the Coca Cola Golden Spoon Awards 2015 in Mumbai 32

THANK YOU Brigade Enterprises Ltd CIN: L85110KA1995PLC019126 29 th & 30 th Floor, World Trade Centre, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram Rajajinagar, Bangalore 560 055. Phone: 91 80 4137 9200 Fax: 91 80 2221 0784 www.brigadegroup.com K Suresh Chief Financial Officer Email: sureshkris@brigadegroup.com Om Prakash P Company Secretary Email: omprakash@brigadegroup.com Pradyumna Krishnakumar EA to CMD & Analyst Email: pradyumna@brigadegroup.com Vikas Jain Sr. Manager Finance & Analyst Email: vikasjain@brigadegroup.com 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 a Number of risks and uncertainties which could cause actual results to differ from those anticipated by the Company. 33