Brigade Enterprises Limited — Earnings Release 2024

Feb 6, 2024

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Ref: BEL/NSEBSE/PR/06022024

6[th] February, 2024

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/Scrip Code: 532929

Dear Sir/Madam,

Sub.: Press Release Brigade Records Quarterly Sales of ₹ 1,524 Crores in Q3 FY24; Plans Residential Launches of ₹ 10,000 crores in the next four quarters.

We are enclosing herewith the Press Release relating to the unaudited financial results for the quarter and nine months ended 31[st] December, 2023.

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 faithfully,

For Brigade Enterprises Limited

Om Prakash Digitally signed by Om Prakash Palanimuthu Palanimuthu Date: 2024.02.06 16:53:37 +05'30' P. Om Prakash

Company Secretary & Compliance Officer

Encl.: a/a

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PRESS RELEASE | Q3 FY24

Brigade Records Quarterly Sales of ₹ 1,524 Crores in Q3 FY24; Plans Residential Launches of ₹ 10,000 crores in the next four quarters .

Brigade Group’s Total Revenue in Q3 FY24 grows by 41% to ₹ 1,208 Crores from Q3 FY23 and Profit After Tax grows by 31% to ₹ 56 crores from Q3 FY23

Bengaluru, February 6, 2024 : Brigade Group reported a total revenue of ₹ 1,208 Crores and Profit After Tax of ₹ 56 Crores in Q3 FY24. Net bookings in the real estate segment of Q3 FY24 is 1.7 mn sft with a sale value of ₹1,524 Crores. Collections for Q3 FY24 stood at ₹ 1,394 crores.

"We have witnessed healthy growth across our business verticals. The momentum in the Residential business continues to exhibit healthy growth both in terms of pricing as well as volume and continues to look positive with a strong pipeline of launches for Q4 FY24. Our Office segment recorded the best leasing quarter post-COVID and we are hopeful to finishing the financial year stronger. Furthermore, our Retail business has seen good leasing traction and Hospitality has seen improvements across the board." said Pavitra Shankar, Managing Director, Brigade Enterprises Ltd.

The company also announced that the Residential segment will witness launches of about 10.8 Mn sft with an estimated gross development value of around ₹ 10,000 crores in the next four quarters. Furthermore, about 5 Mn sft of Office and Retail projects are planned to be launched in the next 4 quarters, The annualised exit rentals is estimated to be in the range of ₹ 500 crores from these launches. Similarly, the Hospitality segment plans to commence construction of about 1,000 rooms across 4 projects in next 1 year.

REAL ESTATE

Achieved its strongest performance ever for Q3 of a Financial year with the sales of 1.7 Mn Sft with a sale value of ₹ 1,524 Crores with absorption in Bengaluru and Chennai. During the quarter, revenue stood at ₹ 839 Crores which has grown by 50% compared to Q3 FY23 and EBITDA stood at ₹ 73 Crores for the quarter.

LEASING

In Q3 FY24, the Group leased 0.49 Mn Sft (Including hard option), achieving 95% occupancy in the overall portfolio. During the quarter, revenue stood at ₹ 247 Crores which has grown by 24% compared to Q3 FY23 and EBITDA stood at ₹179 Crores.

HOSPITALITY

In the Q3 FY24, Hospitality revenues have surged by an impressive 22% to ₹ 123 Crores, ARR has shown a 7% increase, and occupancy has experienced an 5% rise compared to Q3 FY23. EBITDA Stood at ₹ 45 Crores.

Q3 FY24 CONSOLIDATED FINANCIAL HIGHLIGHTS

Revenue in Q3 FY24 stood at ₹ 1,208 Crores as against ₹ 859 Crores in Q3 FY23; Increase of 41% EBITDA stood at ₹ 296 Crores in Q3 FY24 as against ₹ 246 Crores in Q3 FY23; Increase of 20% PAT in Q3 FY24 stood at ₹ 56 Crores as against ₹ 43 Crores in Q3 FY23; Increase of 31%

Om Prakash Digitally signed by Om Prakash Palanimuthu Palanimuthu Date: 2024.02.06 16:53:53 +05'30'

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 transformed skylines across cities – Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across Residential, Office, Retail and Hotels.

For information on Brigade Group, please visit BrigadeGroup.com or contact: investors@brigadegroup.com

For more information, please contact: Miriam Macwana, Brigade Enterprises Ltd., GM-Corporate Communications, Phone: + 91 80 41379200; E-mail: miriammacwana@brigadegroup.com

Om Prakash Digitally signed by Om Prakash Palanimuthu Palanimuthu Date: 2024.02.06 16:54:07 +05'30'