#1BRIGADE ENTERPRISES LIMITED Investor Presentation - Q1 FY23 (CIN: L85110KA1995PLC019126) Artist's impression of Brigade Orchards Artist's impression of Brigade Utopia BRIGADE Great Place To Work. Certified FEB 2022-FEB 2023 INDIA#2Brigade - A brand that puts values first About us 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 margin of ~26%-28% for the past seven years Presence Rated A+ 'Stable' from ICRA and CRISIL Ranked amongst the 100 Best Places to Work in India for eleven consecutive years by GPTW Institute Our Values Shared Vision: To be a World Class Organization in our Products, Processes, People & Performance Shared Mission: To be the Preferred Developer of Residential, Commercial & Hospitality Spaces in the market in which we operate, without compromising on our values, for the benefit of all our stakeholders Core Values: QC-First - Quality, Customer Centricity, Fair, Innovative, Responsible Socially, Trustworthy GIFT City Hyderabad Bengaluru Mysore Kochi Chennai Thiruvananthapuram BRIGADE 2#3Segments 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 Q1 FY23 compared to Q1 FY22 Lease Rentals • Witnessed strong recovery in leasing segment; Leased ~0.4 Mn sft during Q1 FY23; Highest contribution from Brigade Tech Gardens & Gift City, Gujarat • Active pipeline of ~1 Mn sft; demand largely from automotives, IT, pharma, BFSI & consulting firms 19% • Retailer sales consumption witnessed a growth of 35% over pre-covid levels; Fashion, F&B, electronics are highest performing category; Multiplex business grew by 33% Y-o-Y Hospitality • Hospitality segment witnessed significant revival; Achieved portfolio occupancy of 120% and revenue of 132% of pre-covid levels in hotels during Q1 FY23 10% 71% BRIGADE • • Portfolio ARR at pre-covid levels; Most of the hotels in our portfolio surpassed pre-covid levels Achieved positive PBT during the quarter Real Estate - On Sale Basis Lease Rentals Hospitality PAT after MI stood at INR 877 Mn in Q1 FY23, an increase by 170% compared to Q4 FY22 3#4Summary: Ongoing Projects Area in Mn sft BRIGADE 7% Total Project Area 0 93% Real Estate ■Lease Rentals Brigade's share of Project Area 0 90% ■Real Estate ■Lease Rentals Projects Project Area Co Share LO/JV share Real Estate projects for sale 6.98 4.53 2.45 Brigade Orchards * 1.22 0.61 0.61 Brigade Cornerstone Utopia* 5.02 3.33 1.69 Brigade Residences at WTC Chennai* 0.57 0.29 0.28 Brigade El Dorado* 3.24 3.24 Total Real Estate (A) 10% 17.03 12.00 5.03 Brigade Twin Towers* 1.30 1.30 Total Leasing (B) 1.30 1.30 Total (A+B) 18.33 13.30 5.03 * Projects in SPV 4#5Contents 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 BRIGADE Great Place To Work.. Certified JAN 2020-DEC 2020 INDIA#6Highlights: 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 9.5 Mn sft with key projects in Bengaluru, Hyderabad & Chennai Bengaluru • Brigade Atmosphere, Pearl Block • Brigade Horizon • . . • • Brigade Nanda Heights Brigade El Dorado, new blocks Brigade Valencia Brigade Upper Crest Brigade Calista Brigade Millenium Annexe Brigade Oasis, plots at Devanahalli Brigade Oak Tree, plots at Mysore Hyderabad Brigade Citadel, Phase 2 & 3 Chennai • Brigade Residences, Tower A3 BRIGADE Artist's impression of Brigade El Dorado 6#7Group Sales Snapshot Particulars Q1 FY23 Q4 FY22 Q1 FY22 Q1 FY23 on Q4 FY22 BRIGADE Q1 FY23 on 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 711 348 112 104% 535% Total 8,139 10,279 4,800 (21%) 70% (1%) 5% Realization (INR/sft) 6,589 6,644 6,275 Achieved net sale value of INR 8,139 Mn during Q1 FY23, an increase of 70% from Q1 FY22 7#8Quarterly Sales Performance - Real Estate 765 Net Area Sales ('000 Sft) 1,313 1,090 1,548 1,235 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 4,800 Net Sales Value (INR Mn) 8,306 6,842 10,279 8,139 BRIGADE 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% over Q1 FY22 8#9Consolidated synopsis of Real Estate Projects BRIGADE Particulars Ongoing BEL Projects Ongoing SPV Projects* Total super built-up area of projects on sale basis 15.24 1.79 Stock Sales In Mn sft BEL 0.52 Total SPV 0.49 18.04 Less: Landowner share 4.14 4.14 Company share of saleable area 11.10 1.79 0.52 0.49 13.90 Sold till date 7.95 0.99 8.94 To be sold Estimated receipts From sold units From unsold units 3.15 0.80 0.52 0.49 4.96 INR Mn 66,511 12,908 9,388 3,802 92,609 46,935 8,178 6,541 1,389 63,043 19,576 4,730 2,847 2,413 29,566 Collections to date on sold units 26,544 4,509 4,137 676 35,866 Remaining to be collected from sold units 20,391 3,669 2,404 713 27,177 Remaining to be collected from sold and unsold units [A] 39,967 8,399 5,251 3,126 56,743 Estimated Total Cost 51,540 9,531 1,986 1,930 64,987 Cost incurred till date 22,778 5,799 1,986 1,930 32,493 Remaining Cost to be incurred [B] 28,762 3,732 32,494 Gross Operating Cash Flows [A] - [B] 11,205 4,667 5,251 3,126 24,249 Present Borrowings [C] 632 92 489 920 2,133 Net Operating Cash Flows projected [A] - [B] - [C] 10,573 4,575 4,762 2,206 22,116 * Brigade Orchards and Brigade Residences at WTC Chennai 9#10Contents 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 BRIGADE Great Place To WorkⓇ Certified FEB 2022-FEB 2023 INDIA#11Our Leasing Portfolio: Operating Assets Retail 1.17 0.14 Office 5.43 0.37 1.57 BRIGADE Area in Mn sft Leased Out Hard Option To Be Transacted Particulars Brigade Tech Gardens WTC Chennai Leasable Area Leased 3.00 1.85 0.20 2.01 1.47 0.06 Hard Option To be transacted 0.95 0.48 WTC Bengaluru 0.62 0.62 Brigade Opus 0.30 0.26 0.04 Brigade Bhuwalka Icon 0.19 0.19 WTC Kochi 0.77 0.62 0.11 0.04 Brigade Financial Center, Gift City 0.27 0.24 0.03 Brigade Southfield 0.15 0.15 Orion Gateway 0.83 0.77 Orion Uptown 0.27 0.22 Orion Avenue (BEL Share) 0.15 0.12 0.06 0.05 0.03 Brigade Vantage, Chennai 0.06 0.06 Others 0.06 0.03 0.03 Total 8.68 6.60 0.37 1.71 11#12Capex Commitment Project Brigade Twin Towers Estimated cost Incurred Balance* 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 BRIGADE (INR Mn) 12#13Contents 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 BRIGADE Great Place To WorkⓇ Certified FEB 2022-FEB 2023 INDIA#14Strong 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 Continued cost-optimization measures assisted in increase in margin Achieved EBITDA of 32% during the quarter, back to pre-covid levels Expect hospitality business to continue the positive momentum 59% Grand Mercure, Mysore 45% 59% 49% BRIGADE Holiday Inn Express, OMR 71% 23% 5,435 2,844 3,199 3,858 3,891 5,363 Q1 FY20 Pre- covid Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 ARR Occupancy Achieved hospitality EBITDA of INR 291Mn in Q1 FY23 surpassing the overall FY22 EBITDA of INR 227 Mn by 28% 14#15Contents 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 BRIGADE 6 Projects launched and upcoming launches Great Place To WorkⓇ Certified FER 2022-FEB 2023 INDIA#16Consolidated Financials: Snapshot BRIGADE (INR Mn) Q1 FY23 on Q4 Q1 FY22 on Q1 Particulars Q1 FY23 Q4 FY22 Q1 FY22 FY22 FY22 Revenue EBITDA 9,203 9,647 3,915 (5%) 135% 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 751 908 845 (17%) (11%) Profit/(Loss) before share from Associate & Exceptional 692 274 (777) 153% item Add: Profit from Associate 41 1 10 4000% 310% Add/(Less): Exceptional Item 97 (200) (209) PBT 830 75 (976) 1007% Tax charge (credit) PAT PAT after MI EBITDA/Revenue PBT/Revenue 184 191 (117) (4%) 646 (116) (859) 877 325 (401) 170% 27% 24% 31% 9% 1% (25%) PAT/Revenue 7% (1%) (22%) *PAT: Profit After Tax, PBT: Profit Before Tax, EBITDA: Earnings Before Interest Tax Depreciation Amortization, MI: Minority Interest, () indicates negative figure 16#17Business Segment Performance: Q1 FY23 BRIGADE (INR Mn) Particulars Real Estate Lease Rental Hospitality Total Revenue as % of Total 6,550 1,754 899 9,203 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 1,357 291 2,504 EBITDA / Revenue % 13% 77% 32% 27% Finance costs 134 781 146 1,061 PBDT 722 576 145 1,443 Depreciation 19 588 144 751 PBTE 703 (12) 1 692 PBTE/Revenue % 11% (1%) 8% *PAT: Profit After Tax, PBTE: Profit Before Tax & Exceptional Items, EBITDA: Earnings before Interest Tax Depreciation Amortization, MI : Minority Interest, () indicates negative figure 17#18Consolidated Cash Flows Q1 FY22 BRIGADE (INR Mn) Particulars Operating Activities Total Collections Direct Cost/Construction Cost Landowner Payments Q1 FY23 Q4 FY22 12,103 13,335 7,172 (4,860) (5,434) (3,488) (1,097) (1,218) (619) Employee and Admin Expenses (938) (938) (738) Sales & Marketing Expenses (334) (398) (222) Statutory Payments (1,141) (1,066) (522) Other Payments (39) (132) (25) Net Cash Flow from Operating Activities (A) 3,694 4,149 1,558 Investment Activities Cash from Investment Activities (FD & MF) 2,060 1,250 1,617 Construction Cost (CWIP/Capex Projects) (808) (430) (638) Investment in Land/JD/JV/TDR (833) (1,149) (10) Acquisition of associate company (510) Other Investments (FD & Mutual Fund) (2,952) (2,587) (6,832) Net Cash Flow from Investment Activities (B) (3,043) (2,916) (5,863) Financing Activities Debt Drawdown 882 2,029 2,913 Investment by PE 250 Proceeds from QIP/ESOP/Share Warrants 27 25 5,008 Debt Repayment (1,458) (1,518) (3,483) Finance costs (788) (836) (878) Net Cash Flow from Financing Activities (C) (1,337) (300) 3,810 Net Cash Flows for the Period (A+B+C) (686) 933 (495) Cash Flow from Operating activities for Q1 FY23 was INR 3,694 Mn, 137% higher than Q1 FY22 18#19Capital Allocation: Segment-wise as of 30th June 2022 (INR Mn) Capital Employed % BRIGADE Segment Equity (A) Debt (B) Capital Employed (A+B) D/E Ratio (A/B) PBD*/ Equity % Operating Capital Employed (OCE) EBITDA/ OCE % 11% 29% Real Estate 19,938 2,133 22,071 0.11 20% 22,071 21% Hospitality 2,530 6,124 8,654 2.42 8,377 7% Leasing 14,236 32,698 46,934 2.30 9% 41,338 11% 60% Less: Cash Balance Total 16,891 36,704 24,064 77,659 0.66 7% 71,786 13% Net Debt to Equity ratio stands reduced to 0.66 as on 30th June 22 Note: PBD/Equity and EBITDA/OCE percentages are calculated based on trailing four quarter numbers *PBD: Profit Before Depreciation & Tax (After Interest) ■Real Estate ■Lease Rentals Hospitality 19#20Consolidated Debt Profile Real Estate Particulars June-22 March-22 December-21 2,133 2,718 2,929 Hospitality GOP Securitised Capex 6,124 6,182 5,989 5,150 5,332 4,899 974 850 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 & Cash Equivalents 16,891 15,785 13,116 Net Debt 24,064 25,403 27,902 Less: SPV Partner's share of debt Exposure of BEL 7,709 7,872 8,173 Cost of Debt (Consolidated) 16,355 7.75% 17,531 19,729 7.65% 7.81% Credit Rating BRIGADE (INR Mn) [ICRA] A+ (Stable), CRISIL A+/Stable [ICRA] A+ (Stable), CRISIL A+/Stable [ICRA] A+ (Stable), CRISIL A+/Stable Gross debt figure for June-22 includes INR 18,723 Mn debt taken in SPV's where BEL's share is INR 9,539 Mn 20#21Debt Profile & Cost of Borrowing Segment Wise Debt (INR Mn) 22% 12% 5% 2% Gross Debt - 40,955 Mn Gross debt to Brigade's share BRIGADE 42,207 41,276 41,018 41,188 40,955 HELL 22,183 59% 21,387 19,729 17,531 16,355 ■Commercial - LRD Commercial - CAPEX Hospitality - LRD ■Real Estate - CF ■Hospitality - CAPEX Jun-21 Sep-21 Dec-21 Gross debt Brigade's share Reduction in real estate debt by INR 585 Mn owing to good sales and collections during the quarter Mar-21 Jun-22 21#22Standalone Financial Statement BRIGADE (INR Mn) Q1 FY23 on Q1 FY22 Q1 FY23 on Particulars Q1 FY23 Q4 FY22 Q1 FY22 Q4 FY22 Turnover EBITDA 6,613 7,187 2,670 (8%) 148% 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%) (7%) PBTE 1,238 1,293 309 (4%) 301% Add/(Less): Exceptional Items 299 PBT 1,537 1,293 309 19% 397% Tax charge/(credit) PAT 393 454 82 (13%) 379% 1,144 839 227 36% 404% EBITDA/Revenue PBT/Revenue PAT/Revenue 26% 25% 34% 23% 18% 12% 17% 12% 9% * PAT: Profit After Tax, PBTE: Profit Before Tax & Exceptional Items, PBT: Profit Before Tax, EBITDA: Earnings Before Interest Tax Depreciation Amortization 22 22#23Contents 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 BRIGADE 6 Projects launched and upcoming launches Great Place To Work.Ⓡ Certified FEB 2022-FEB 2023 INDIA#24Brigade's Land Bank GIFT City Hyderabad Bengaluru 79 Land Area (in acres) as on 30th June 22 10 3 15 18 Mysore Chennai Kochi Total Land Area (Acres) Cost of Land (INR Mn) Thiruvananthapuram Others include land in Gujarat and Thiruvananthapuram 492 18,513 ■Bangalore Chennai Kochi ■Mysore ■ Hyderabad ■ Others 367 BRIGADE Amount Paid (INR Mn) 7,621 Balance Payable (INR Mn) 10,892 24#25Developable Area Details Product Land Area (Acres) Project Area (Mn Sft) BEL Share (Mn Sft) Residential 275 34.7 25.9 Plotted development 84 1.8 0.8 15% Commercial-Lease 57 7.2 6.6 Logistics & Warehousing 44 1.1 1.1 Commercial-Sale 11 1.5 0.9 Hotel 21 0.4 0.4 4% Total 492 46.7 35.7 Location Land Area (Acres) Project Area (Mn BEL Share (Mn Sft) Sft) Bengaluru 367 33 26 Chennai 79 12 8 Others * 46 2 2 Total 492 47 36 * Kochi, Hyderabad, Mysore, Gujarat & Thiruvananthapuram Project Area: Product Mix 3% 1% 3% 74% BRIGADE ■ Residential ■Commercial - Lease ■Commercial - Sale Plotted development Logistics & Warehousing ■ Hotel 25#26Contents 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 BRIGADE Great Place To WorkⓇt Certified FEB 2022-FEB 2023 INDIA#27Projects Launched: Q1 FY23 Project City Neem Groove @ Brigade Orchards Bengaluru Brigade El Dorado - Iridium Block Bengaluru Total Segment Plotted development Residential BRIGADE Project Area BEL Economic Interest (Mn Sft) (Mn Sft) 0.17 0.08 0.34 0.34 0.51 0.42 Artist's impression of Neem Groove, Brigade Orchards 27#28Upcoming Launches BRIGADE Segment Total Area (Mn sft) Brigade Economic Interest (Mn sft) 7.60 6.32 1.94 0.85 2.03 1.20 11.57 8.37 Residential Plotted development Leasing Total BRIGADE Artist's impression of Brigade Nanda Heights Artist's impression of Brigade Atmosphere, Pearl 28#29. Awards and Accolades - Q1 FY23 BRIGADE 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 AWARD Conclave & Excellence Awards 2022, presented by Realty+ Realty+ CONCLAVE & EXCELLENCE AWARDS 2022 REALTY AWARDS 29#30• 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 Realty+ idea INDIAN DIGITAL EXCELLENCE AWARDS 2022 A VIRTUAL SERIES! THIS CERTIFICATE IS PRESENTED TO BRIGADE GROUP IDEA VIDEO/TVC CAMPAIGN OF THE YEAR REAL ESTATE FOR WE MAKE ROOM In recognition of your exemplary performance and achievement. Your efforts have contributed to making a positive difference in the Indian real estate industry. Anung Patro DR. ANNURAG BATRA Chairman & Editor-in-Chic! BW Bus World & exchangedmedia Group JUNE 1, 2022 Cary APMAY Aworded Brigade Derode eat Aordonie Prawd BRIGADE 30#31Shareholding Pattern - 30th June 2022 18% 0 25% 13% 44% Promoter Group Flls and FPIS Mutual Funds Others BRIGADE 31#32Board of Directors M. R. Jaishankar Chairman and Managing Director Masters in Business Administration Part of Promoter Group Aroon Raman Independent Director • • MBA from Wharton School, University of Pennsylvania Author and Entrepreneur Nirupa Shankar Executive Director • Masters of Management, • Hospitality from Cornell University Part of Promoter Group Roshin Mathew Executive Director B Tech and Masters in Building Engineering and Management Lakshmi Venkatachalam Independent Director Dr. Venkatesh Panchapagesan Independent Director • MBA from Boston University • CA, CWA, IIM K Alumni • Retired IAS Officer • Faculty at IIM B Amar Mysore Pradeep Kumar Panja Independent Director BRIGADE Pavitra Shankar Executive Director • MBA, Real Estate & Finance, Columbia Business School Part of Promoter Group Bijou Kurien Independent Director PG Diploma in Business Management Rich experience in Retail Sector Executive Director Masters in Engineering from Pennsylvania Sate University • Masters in Science • Former MD of SBI • Part of Promoter Group • 32#33Ongoing Residential Projects L = Artist's impression of Brigade Laguna E BRIGADE Artist's impression of Brigade Komarla Heights 33#34Upcoming launches BRIGADE Artist's impression of Brigade Calista Artist's impression of Brigade Horizon 34#35Completed Residential Projects BRIGADE WOODS BRIGADE Artist's impression of Brigade Woods Artist's impression of Brigade Parkside North 35#36Completed Commercial Projects BRIGADE WORLD TRADE CENTER BRIGADE Actual shot at World Trae Center, Chennai Actual shot at Brigade Tech Gardens 36#37Email:[email protected] Thank you Brigade Enterprises Limited 29th & 30th Floor, World Trade Center Brigade Gateway Campus, Dr Rajkumar Road, Malleswaram-Rajajinagar, Bengaluru 560055 Great Place To WorkⓇ Certified FEB 2022-FEB 2023 INDIA 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. 37