Brigade Enterprises Limited — Interim / Quarterly Report 2022

Feb 3, 2022

Chartered Accountants

12th Floor "UB City" Canberra Block No. 24, Vittal Mallya Road Bengaluru – 560 001, India Tel: +91 80 6648 9000

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Brigade Enterprises Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Brigade Enterprises Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") and its associates for the quarter ended December 31, 2021 and year to date from April 01, 2021 to December 31, 2021 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended ('the Act'), read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

• 1. The Statement includes the results of the following entities:
• (i) Brigade Enterprises Limited
• (ii) Brigade Properties Private Limited
• (iii) Perungudi Real Estates Private Limited
• (iv) WTC Trades and Projects Private Limited
• (v) Orion Property Management Services Limited
• (vi) SRP Prosperita Hotel Ventures Limited
• (vii) BCV Developers Private Limited
• (viii) Brigade Hospitality Services Limited
• (ix) Brigade Tetrarch Private Limited
• (x) Brigade Estates and Projects Private Limited
• (xi) Brigade Infrastructure and Power Private Limited
• (xii) Brigade (Gujarat) Projects Private Limited
• (xiii) Mysore Projects Private Limited
• (xiv) Brigade Hotel Ventures Limited
• (xv) Augusta Club Private Limited
• (xvi) Tetrarch Developers Limited
• (xvii) Celebrations Private Limited (Celebrations LLP till November 08, 2021)
• (xviii) Brigade Innovations LLP
• (xix) Brigade Flexible Office Spaces Private Limited (Brigade Flexible Office Spaces LLP till November 22, 2021)
• (xx) Tandem Allied Services Private Limited (Associate entity)
• (xxi) Prestige OMR Ventures LLP (Associate entity)

Chartered Accountants

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

6. Emphasis of Matter paragraph

We draw attention to:

• i) Note 6 to the Statement, which describes the management's evaluation of Covid-19 impact on the future business operations and future cash flows of the Group and its consequential effects on the carrying value of its assets. In view of the uncertain economic conditions, the management's evaluation of the impact on the subsequent periods is highly dependent upon conditions as they evolve.
• ii) Note 9 to the Statement, in connection with certain ongoing legal proceedings in the Group. Pending resolution of the legal proceedings, the underlying loans and advances are considered as good and recoverable, basis legal evaluation done by the management.

Our conclusion on the Statement is not modified in respect of the above matters.

• 1. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of:
• 15 subsidiaries, whose unaudited interim financial results include total revenues of Rs 17,157 lakhs and Rs 39,686 lakhs, total net profit after tax of Rs. 1,180 lakhs and total net loss after tax of Rs. 1,527 lakhs and total comprehensive income of Rs. 1,180 lakhs and total comprehensive loss of Rs. 1,527 lakhs, for the quarter ended December 31, 2021 and for the period from April 01, 2021 to December 31, 2021 respectively, as considered in the Statement which have been reviewed by their respective independent auditors.
• 2 associates whose unaudited interim financial results include Group's share of net profit of Rs. 79 lakhs and Rs. 261 lakhs and Group's share of total comprehensive income of Rs. 79 lakhs and Rs. 261 lakhs for the quarter ended December 31, 2021 and for the period from April 01, 2021 to December 31, 2021 respectively, as considered in the Statement whose interim financial results and other financial information have been reviewed by their respective independent auditors.

The independent auditor's reports on interim financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries and associates is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above.

For S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004

NAVIN KUMAR AGARWAL Digitally signed by NAVIN KUMAR AGARWAL Date: 2022.02.03 15:47:16 +05'30'

Per Navin Agrawal Partner Membership No.: 056102 UDIN: 22056102AAFVIJ6294

Place: Kolkata Date: February 03, 2022

BRIGADE ENTERPRISES LIMITED

Corporate Identity Number (CIN): L85110KA1995PLC019126

Regd. Office: 26/1, 29th & 30th Floor, World Trade Center, Dr Rajkumar Road,

Malleswaram-Rajajinagar, Bangalore 560 055

Phone: +91-80-41379200, 2221 7017-18 Fax:+91-80-2221 0784

Email: enquiry@brigadegroup.com Website: www.brigadegroup.com

Statement of Unaudited Consolidated Financial Results for the quarter and nine months ended December 31, 2021

						(Rs. in lakhs)
Particulars	Quarter ended	Preceding	Corresponding	Year to date	Year to date	Year ended
	31.12.2021	Quarter ended	Quarter ended	figures for	figures for	31.03.2021
	[Unaudited]	30.09.2021	31.12.2020	the current	the preceding	[Audited]
		[Unaudited]	[Unaudited]	period ended	period ended
				31.12.2021	31.12.2020
1 Income				[Unaudited]	[Unaudited]
Revenue from operations	92,102	75,266	64,463	2,05,647	1,15,873	1,94,997
Other income	1,217	2,342	902	4,432	3,080	6,042
Total Income	93,319	77,608	65,365	2,10,079	1,18,953	2,01,039
2 Expenses
(a) Sub-contractor cost	34,777	34,904	25,016	90,435	51,267	83,114
(b) Cost of raw materials, components and stores consumed	3,031	2,719	2,637	7,587	4,849	7,351
(c) Land purchase cost	2,501	10,972	26,670	13,473	42,668	84,350
(d) Decrease/(Increase) in inventories of	8,830	(8,390)	(15,230)	(5,462)	(38,261)	(69,519)
stock of flats, land stock and work-in-progress
(e) License fees and plan approval charges	386	804	18	1,459	580	1,787
(f) Architect and consultancy fees	489	716	510	1,534	1,444	1,766
(g) Employee benefits expense	5,452	4,951	3,991	14,458	10,358	15,088
(h) Finance costs	10,823	11,280	8,560	33,419	25,685	34,681
(i) Depreciation and amortization expense	8,709	8,813	5,912	25,974	17,085	23,693
(j) Other expenses	10,885	9,353	6,007	26,049	14,649	23,867
Total expenses	85,883	76,122	64,091	2,08,926	1,30,324	2,06,178
3 Profit/(Loss) before share of profit of Associate(1-2)	7,436	1,486	1,274	1,153	(11,371)	(5,139)
4 Share of profit of Associate (net of tax)	79	79	59	261	206	257
5 Profit/(Loss) before exceptional items and tax (3+4)	7,515	1,565	1,333	1,414	(11,165)	(4,882)
6 Exceptional items (refer note 7 and 8)	-	1,576	4,000	3,670	4,000	7,628
7 Profit/(Loss) before tax ( 5-6)	7,515	(11)	(2,667)	(2,256)	(15,165)	(12,510)
8 Tax expense
(i) Current tax	3,476	1,746	876	6,400	1,636	5,764
(ii) Deferred tax credit	(602)	(392)	(1,396)	(3,343)	(5,202)	(8,633)
Total	2,874	1,354	(520)	3,057	(3,566)	(2,869)
9 Profit/(Loss) for the period ( 7-8)	4,641	(1,365)	(2,147)	(5,313)	(11,599)	(9,641)
Attributable to:
(i) owners of the parent company	7,836	1,203	(1,612)	5,030	(8,589)	(4,632)
(ii) non-controlling interests	(3,195)	(2,568)	(535)	(10,343)	(3,010)	(5,009)
10 Other comprehensive income
(i) Re-measurement gains/ (losses) on defined benefit plans	-	-	22	-	15	(128)
(ii) Equity instruments	-	-	-	-	-	61
(iii) Income tax relating to items that will not be reclassified to profit	-	-	(6)	-	(5)	38
or loss
Total other comprehensive income Attributable to:	-	-	16	-	10	(29)
(i) owners of the parent company	-	-	16	-	10	(29)
(ii) non-controlling interests	-	-	-	-	-	-
11 Total Comprehensive Income/(Loss) for the period [Comprising Profit/(Loss) for the period and Other Comprehensive Income] (9+10)	4,641	(1,365)	(2,131)	(5,313)	(11,589)	(9,670)
Attributable to:
(i) owners of the parent company	7,836	1,203	(1,596)	5,030	(8,579)	(4,661)
(ii) non-controlling interests	(3,195)	(2,568)	(535)	(10,343)	(3,010)	(5,009)
12 Earnings per equity share:
(of Rs. 10/- each) (not annualised):
a) Basic	3.41	0.52	(0.76)	2.24	(4.17)	(2.24)
b) Diluted	3.40	0.51	(0.76)	2.23	(4.17)	(2.24)
13 Paid-up equity share capital	23,010	22,985	20,829	23,010	20,829	21,091
(Face value of Rs. 10/- each)
14 Other equity (excluding Non-controlling interests)						2,13,675

Notes to the unaudited consolidated financial results for the quarter and nine months ended December 31, 2021

1 The above consolidated financial results of Brigade Enterprises Limited ('the Company') and its subsidiaries (together referred to as "the Group") and its associates has been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meeting held on February 03, 2022.

Details of segment-wise revenue, results and capital employed:						(Rs. in lakhs)
Particulars	Quarter ended	Preceding	Corresponding	Year to date	Year to date	Year ended
	31.12.2021	Quarter ended	Quarter ended	figures for	figures for	31.03.2021
	[Unaudited]	30.09.2021	31.12.2020	the current	the preceding	[Audited]
		[Unaudited]	[Unaudited]	period ended	period ended
				31.12.2021	31.12.2020
				[Unaudited]	[Unaudited]
Segment Revenue
Real Estate	70,612	58,151	53,547	1,54,591	87,981	1,52,191
Hospitality	6,352	4,130	3,020	12,437	5,600	9,704
Leasing	15,848	13,535	8,615	40,413	24,319	36,155
Total	92,812	75,816	65,182	2,07,441	1,17,900	1,98,050
Less: Inter Segment Revenues	(710)	(550)	(719)	(1,794)	(2,027)	(3,053)
Revenue from operations	92,102	75,266	64,463	2,05,647	1,15,873	1,94,997
Segment Results
Real Estate	17,566	12,347	9,665	34,777	16,063	29,367
Hospitality	197	(881)	(1,904)	(2,620)	(7,786)	(8,769)
Leasing	3,112	2,832	3,424	8,334	8,082	12,293
Profit before Tax and Interest	20,875	14,298	11,185	40,491	16,359	32,891
Less: Finance costs	(10,823)	(11,280)	(8,560)	(33,419)	(25,685)	(34,681)
Less: Other unallocable expenditure	(3,833)	(3,874)	(2,253)	(10,351)	(5,125)	(9,391)
Less: Exceptional items	-	(1,576)	(4,000)	(3,670)	(4,000)	(7,628)
Add: Share of Profit of Associate	79	79	59	261	206	257
Add: Other Income	1,217	2,342	902	4,432	3,080	6,042
Profit/(Loss) before Tax	7,515	(11)	(2,667)	(2,256)	(15,165)	(12,510)
Segment Assets
Real Estate	7,20,958	7,16,324	6,73,482	7,20,958	6,73,482	7,16,870
Hospitality	89,392	90,877	98,055	89,392	98,055	94,680
Leasing	4,55,657	4,54,405	4,34,844	4,55,657	4,34,844	4,50,996
Unallocated assets	1,87,196	2,06,701	94,795	1,87,196	94,795	1,19,463
Total Segment Assets	14,53,203	14,68,307	13,01,176	14,53,203	13,01,176	13,82,009
Segment Liabilities
Real Estate	5,70,006	5,60,184	4,70,471	5,70,006	4,70,471	5,29,807
Hospitality	18,548	18,858	21,594	18,548	21,594	19,486
Leasing Unallocated liabilities	61,037 5,15,136	57,148 5,48,764	52,363 5,14,089	61,037 5,15,136	52,363 5,14,089	64,289 5,22,105
Total Segment Liabilities	11,64,727	11,84,954	10,58,517	11,64,727	10,58,517	11,35,687

3	Figures for unaudited standalone financial results of the Company for the quarter and nine months ended 31.12.2021 are as follows:						(Rs. in lakhs)
	Particulars	Quarter ended	Preceding	Corresponding	Year to date	Year to date	Year ended
		31.12.2021	Quarter ended	Quarter ended	figures for	figures for	31.03.2021
		[Unaudited]	30.09.2021	31.12.2020	the current	the preceding	[Audited]
			[Unaudited]	[Unaudited]	period ended	period ended
					31.12.2021	31.12.2020
					[Unaudited]	[Unaudited]
	Revenue from operations	67,980	56,486	52,485	1,48,430	91,052	1,52,398
	Profit Before Tax	16,284	10,985	3,768	30,363	6,363	17,769
	Profit After Tax	12,015	8,206	2,668	22,494	4,593	14,456

The unaudited standalone financial results for the quarter and nine months ended 31.12.2021 can be viewed on the Company website www.brigadegroup.com and also be viewed on the website of NSE and BSE.

Notes to the unaudited consolidated financial results for the quarter and nine months ended December 31, 2021

• 4 In accordance with the Indian Accounting Standard (IND AS) - 33 Earnings Per Share, specified under Section 133 of the Companies Act 2013, read with relevant rules issued thereunder, the impact of employee stock options and share warrants which are anti dilutive in nature, have been ignored in the computation of diluted EPS, wherever applicable.
• 5 During the quarter ended December 31, 2021, the paid-up equity share capital of the Company has increased from Rs.22,985 lakhs to Rs. 23,010 lakhs pursuant to allotment of 2,54,431 equity shares on exercise of stock options by employees.
• 6 The outbreak of Covid-19 pandemic globally and in India has caused significant disturbance and slowdown of economic activities, especially in the retail leasing and hospitality segments.

The Group has considered the possible effects that may result from the Covid-19 pandemic on the carrying value of assets [including property, plant and equipment, investment property, capital work in progress, intangible assets, goodwill, investments, inventories, land advances, etc]. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of this pandemic, the Group, as at the date of approval of these financial results has used internal and external sources of information to assess the expected future performance of the Group. The Group has performed sensitivity analysis on the assumptions used and based on the current estimates, the Group expects that the carrying amount of these assets as at December 31, 2021, are fully recoverable.

The Group has also made assessment of the progress of construction work on its ongoing projects during the period of lockdown and has concluded that the same was only a temporary slowdown in activities and has accordingly capitalised/inventorised the borrowing costs incurred in accordance with Ind AS 23.

Further due to prevailing circumstances, the Group has recognized revenues for the quarter and nine months period ended December 31, 2021 in respect of leasing segment having regard to the Group's ongoing negotiations with certain customers on best estimate basis.

• 7 During the year ended March 31, 2021, based on the ongoing proceedings with the relevant regulatory authorities and management's assessment thereon, the Group had ascertained Rs.1,778 lakhs as amount of stamp duty payable pursuant to merger of Brigade Properties Private Limited ('BPPL') and its wholly-owned subsidiary Brookefields Real Estates and Projects Private Limited ('BREPPL'), which was provided for and disclosed as an exceptional item. On July 5, 2021, the Group has received final assessment order from the Karnataka Stamps and Registration Department with an assessed stamp duty payable of Rs.3,872 lakhs. The balance amount of Rs.2,094 lakhs was provided for during the quarter ended June 30, 2021 and disclosed as an exceptional item.
• 8 During the preceding quarter, the Group has received final assessment order from the Karnataka Stamps and Registration Department with an assessed stamp duty payable of Rs.2,563 lakhs pursuant to demerger of the Company and its wholly owned subsidiaries engaged in hospitality business - Brigade Hotel Ventures Limited ('BHVL'), Brigade Hospitality Services Limited ('BHSL') and Augusta Club Private Limited ('ACPL'). Further, the Group has also received final assessment order with an assessed stamp duty payable of Rs 167 lakhs from the sub registrar of Chennai South Division with regard to demerger of Subramaniam Engineering Limited and SRP Prosperita Hotel Ventures Limited.

The Group had recorded provision of Rs. 1,154 lakhs in earlier periods. The balance amount of Rs.1,576 lakhs was provided for during the preceding quarter and disclosed as an exceptional item.

• 9 The Group has paid land advances of Rs 3,860 lakhs that are under litigation. The underlying loans and advances are considered as good and recoverable based on the legal evaluation by the management of the ultimate outcome of the legal proceedings.
• 10 The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Group will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
• 11 During the quarter ended December 31, 2021, Celebrations LLP and Brigade Flexible Office Spaces LLP have been converted to private limited Companies with effect from November 08, 2021 and November 22, 2021 respectively.

For and on behalf of the Board of Directors of BRIGADE ENTERPRISES LIMITED Digitally signed by MYSORE RAMACHANDRASETTY JAISHANKAR DN: c=IN, o=Personal, pseudonym=b1917f7d22096b7ea89e448cd59540a001a87b57af9d5aa4

M. R. Jaishankar Chairman & Managing Director Page 3 of 3 MYSORE RAMACHANDRASETTY JAISHANKAR f637738aaf38d057, postalCode=560052, st=KARNATAKA, serialNumber=c0b26cd49b68545846cff5d73cc2954adb3f6eb985549e0 6dbb89acb73923ccc, cn=MYSORE RAMACHANDRASETTY JAISHANKAR Date: 2022.02.03 15:26:26 +05'30'

Bengaluru, India February 03, 2022

Chartered Accountants

12th Floor "UB City" Canberra Block No. 24, Vittal Mallya Road Bengaluru – 560 001, India Tel: +91 80 6648 9000

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Brigade Enterprises Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Brigade Enterprises Limited (the "Company") for the quarter ended December 31, 2021 and year to date from April 01, 2021 to December 31, 2021 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended ('the Act'), read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above and based on the consideration of the review reports of other auditors of the limited liability partnership firms ("LLP's") referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

5. Emphasis of Matter

We draw attention to:

• i) Note 4 to the Statement, which describes the management's evaluation of Covid-19 impact on the future business operations and future cash flows of the Company and its consequential effects on the carrying value of its assets. In view of the uncertain economic conditions, the management's evaluation of the impact on the subsequent periods is highly dependent upon conditions as they evolve.
• ii) Note 5 to the Statement, in connection with certain ongoing legal proceedings in the Company. Pending resolution of the legal proceedings, the underlying loans and advances are considered as good and recoverable, basis legal evaluation done by the management.

Our conclusion on the Statement is not modified in respect of the above matters.

Chartered Accountants

1. The accompanying Statement of quarterly interim standalone financial results includes the reviewed financial results in respect of 2 LLP's whose interim financial results and other financial information reflect total revenues of Rs 206 lakhs and Rs 823 lakhs, total net profit after tax of Rs. 22 lakhs and Rs 173 lakhs and total comprehensive income of Rs. 22 lakhs and Rs 173 lakhs for the quarter ended on December 31, 2021 and for the period from April 01, 2021 to December 31, 2021 respectively, as considered in the Statement which have been reviewed by their respective auditors. The reports of such other auditors on interim financial results of these LLP's have been furnished to us, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these LLP's, is based solely on the reports of such other auditors.

Our conclusion on the Statement is not modified in respect of the above matter.

For S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004

NAVIN KUMAR AGARWAL Digitally signed by NAVIN KUMAR AGARWAL Date: 2022.02.03 15:48:22 +05'30'

per Navin Agrawal Partner Membership No.: 056102 UDIN: 22056102AAFUUO9143

Place: Kolkata Date: February 03, 2022

Corporate Identity Number (CIN): L85110KA1995PLC019126 Regd. Office: 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr Rajkumar Road, Malleswaram-Rajajinagar, Bangalore 560 055 Phone: +91-80-41379200, 22217017-18 Fax:+91-80-2221 0784

Email: enquiry@brigadegroup.com Website: www.brigadegroup.com Statement of Unaudited Standalone Financial Results for the quarter and nine months ended December 31, 2021

							(Rs. in lakhs)
	Particulars	Quarter ended	Preceding Quarter	Corresponding	Year to date	Year to date	Year ended
		31.12.2021	ended	Quarter ended	figures for	figures for	31.03.2021
		[Unaudited]	30.09.2021	31.12.2020	the current period	the preceding	[Audited]
			[Unaudited]	[Unaudited]	ended 31.12.2021	period ended
					[Unaudited]	31.12.2020
						[Unaudited]
1	Income
	(a) Revenue from operations	67,980	56,486	52,485	1,48,430	91,052	1,52,398
	(b) Other income	3,402	3,976	2,667	10,117	8,165	11,295
	Total income	71,382	60,462	55,152	1,58,547	99,217	1,63,693
2	Expenses
	(a) Sub-contractor cost	19,516	18,053	14,126	49,020	31,429	46,170
	(b) Cost of raw materials, components and	696	850	822	2,182	1,782	2,832
	stores consumed
	(c) Land purchase cost	127	10,972	26,670	11,099	26,670	50,821
	(d) Decrease/ (Increase) in inventories of stock of flats, land stock and work-in-progress	21,443	5,237	(6,910)	26,427	(6,346)	(9,605)
	(e) License fees and plan approval charges	381	705	10	1,312	565	1,738
	(f) Architect and consultancy fees	226	500	260	891	781	913
	(g) Employee benefits expense	3,253	3,005	2,533	8,774	6,182	8,972
	(h) Finance cost	3,355	3,628	5,058	10,918	15,219	19,759
	(i) Depreciation and amortization expense	2,214	2,244	2,312	6,446	6,388	8,658
	(j) Other expenses	3,887	4,283	2,503	11,115	6,184	10,316
	Total expenses	55,098	49,477	47,384	1,28,184	88,854	1,40,574
3	Profit before exceptional items and tax (1-2)	16,284	10,985	7,768	30,363	10,363	23,119
4	Exceptional items	-	-	4,000	-	4,000	5,350
5	Profit before tax (3-4)	16,284	10,985	3,768	30,363	6,363	17,769
6	Tax expense
	(i) Current tax	2,651	1,181	853	4,465	1,533	4,609
	(ii) Deferred tax charge/(credit)	1,618	1,598	247	3,404	237	(1,296)
	Total	4,269	2,779	1,100	7,869	1,770	3,313
7	Net profit for the period (5-6)	12,015	8,206	2,668	22,494	4,593	14,456
8	Other comprehensive income
	(i) Items that will not be reclassified to profit and loss	-	-	-	-	(14)	(145)
	(ii) Income tax relating to items that will not be reclassified to	-	-	-	-	3	37
	profit and loss
	Total	-	-	-	-	(11)	(108)
9	Total Comprehensive Income for the period [Comprising Net profit for the period and	12,015	8,206	2,668	22,494	4,582	14,348
	Other Comprehensive Income (7+8)]
10	Earnings per equity share:
	(of Rs. 10/- each) (not annualised):
	a) Basic	5.22	3.57	1.29	10.04	2.23	6.99
	b) Diluted	5.21	3.56	1.28	10.01	2.21	6.96
11	Paid-up equity share capital	23,010	22,985	20,829	23,010	20,829	21,091
	(Face value of Rs. 10/- each)
12	Other equity						2,56,638

Notes to the unaudited standalone financial results for the quarter and nine months ended December 31, 2021

• 1 The above standalone financial results of Brigade Enterprises Limited ('the Company') has been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on February 03, 2022.
• 2 Details of standalone segment-wise revenue, results and capital employed:

							(Rs. in lakhs)
		Quarter ended	Preceding Quarter	Corresponding	Year to date	Year to date	Year ended
		31.12.2021	ended	Quarter ended	figures for	figures for	31.03.2021
		[Unaudited]	30.09.2021	31.12.2020	the current period	the preceding	[Audited]
	Particulars		[Unaudited]	[Unaudited]	ended 31.12.2021	period ended
					[Unaudited]	31.12.2020
						[Unaudited]
I	Segment Revenue
	Real Estate	60,571	50,509	47,178	1,30,403	76,055	1,30,268
	Leasing	7,392	5,870	5,273	17,859	14,926	22,024
	Total	67,963	56,379	52,451	1,48,262	90,981	1,52,292
	Add: Share of profits in subsidiary limited liability	17	107	34	168	71	106
	partnership firms
	Revenue From Operations	67,980	56,486	52,485	1,48,430	91,052	1,52,398
II	Segment Results
	Real Estate	15,847	11,392	9,218	31,785	15,256	28,301
	Leasing	4,051	2,729	3,005	9,078	7,060	11,515
	Profit before Tax and Interest	19,898	14,121	12,223	40,863	22,316	39,816
	Less: Finance costs	(3,355)	(3,628)	(5,058)	(10,918)	(15,219)	(19,759)
	Less: Other unallocable expenditure	(3,678)	(3,591)	(2,098)	(9,867)	(4,970)	(8,339)
	Less: Exceptional items	-	-	(4,000)	-	(4,000)	(5,350)
	Add: Share of profits in subsidiary limited liability	17	107	34	168	71	106
	partnership firms
	Add: Other Income	3,402	3,976	2,667	10,117	8,165	11,295
	Profit before Tax	16,284	10,985	3,768	30,363	6,363	17,769
	III Segment Assets
	Real Estate	3,42,910	3,63,881	3,66,793	3,42,910	3,66,793	3,76,435
	Leasing	1,44,049	1,45,878	1,44,375	1,44,049	1,44,375	1,40,041
	Unallocated assets	3,53,325	3,39,639	2,85,219	3,53,325	2,85,219	2,94,381
	Total Assets	8,40,284	8,49,398	7,96,387	8,40,284	7,96,387	8,10,857
	IV Segment Liabilities
	Real Estate	2,91,750	3,13,903	2,96,171	2,91,750	2,96,171	3,11,403
	Leasing	25,647	23,283	21,191	25,647	21,191	22,620
	Unallocated liabilities	1,75,192	1,77,014	2,14,673	1,75,192	2,14,673	1,99,105
	Total Liabilities	4,92,589	5,14,200	5,32,035	4,92,589	5,32,035	5,33,128

3 During the quarter ended December 31, 2021, the paid-up equity share capital of the Company has increased from Rs.22,985 lakhs to Rs. 23,010 lakhs pursuant to allotment of 2,54,431 equity shares on exercise of stock options by employees.

4 The outbreak of Covid-19 pandemic globally and in India has caused significant disturbance and slowdown of economic activities, especially in the retail leasing segment.

The Company's management has considered the possible effects that may result from the Covid-19 pandemic on the carrying value of assets [including property, plant and equipment, investment property, capital work in progress, investments, inventories, land advances etc]. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of this pandemic, the Company, as at the date of approval of these financial results has used internal and external sources of information to assess the expected future performance of the Company. The Company has performed sensitivity analysis on the assumptions used and based on the current estimates, the Company expects that the carrying amount of these assets, as at December 31, 2021, are fully recoverable.

The Company's management has also made assessment of the progress of construction work on its ongoing projects during the period of lockdown and has concluded that the same was only a temporary slowdown in activities and has accordingly capitalised/inventorised the borrowing costs incurred in accordance with Ind AS 23.

Further due to prevailing circumstances, the Company has recognized revenues for the quarter and nine months period ended December 31, 2021 in respect of leasing segment having regard to the Company's ongoing negotiations with certain customers on best estimate basis.

• 5 The Company has paid land advances of Rs 3,860 lakhs that are under litigation. The underlying loans and advances are considered as good and recoverable based on the legal evaluation by the management of the ultimate outcome of the legal proceedings.
• 6 The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
• 7 During the quarter ended December 31, 2021, Brigade Flexible Office Spaces LLP has been converted to a private limited Company with effect from November 22, 2021.

For and on behalf of the Board of Directors of
BRIGADE ENTERPRISES LIMITED
MYSORE Digitally signed by MYSORE RAMACHANDRASETTY JAISHANKAR DN: c=IN, o=Personal, pseudonym=b1917f7d22096b7ea89e448cd59540a001a87b57af9d5aa
RAMACHANDRASETTY 4f637738aaf38d057, postalCode=560052, st=KARNATAKA, serialNumber=c0b26cd49b68545846cff5d73cc2954adb3f6eb985549e 06dbb89acb73923ccc, cn=MYSORE RAMACHANDRASETTY
JAISHANKAR JAISHANKAR Date: 2022.02.03 15:28:17 +05'30'
M. R. Jaishankar
Chairman & Managing Director
Bengaluru, India
February 03, 2022
Page 2 of 2

BRIGADE ENTERPRISES LIMITED

1

(CIN: L85110KA1995PLC019126)

About us

• of experience • Reputation of developing Grade A properties

• Rated A+ 'Stable' from ICRA and CRISIL

Our Values

• years by GPTW Institute • 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 QC-First – Quality, Customer Centricity, Fair, Innovative, Responsible Socially,

• Core Values:

Trustworthy

Segments highlights

• Real Estate On Sale Basis

Lease Rentals

• Multiplexes performed well due to new releases absolute terms

Hospitality

Cash Flow from Operating activities for Q3 FY22 was INR 3,408 Mn, 60% higher than Q2 FY22

Summary: Ongoing Projects

Summary: Ongoing Projects
			Area in Mn sft
Projects	Project Area	Co Share	LO/JV share	Total Project Area
Real Estate projects for sale	7.74	5.02	2.72	7%
Brigade Orchards *	0.54	0.27	0.27	Real Estate
Brigade Cornerstone Utopia*	5.02	3.33	1.69	Lease Rentals
Brigade Residences at WTC Chennai*	0.57	0.29	0.28	93%
Brigade El Dorado*	2.89	2.89	-	Brigade's share of Project Area 10%
Total Real Estate (A)	16.76	11.80	4.96
Brigade Twin Towers*	1.30	1.30	-	Real Estate
Total Leasing (B)	1.30	1.30	-	Lease Rentals
Total (A+B)	18.06	13.10	4.96	90%
* Projects in SPV

Contents

1	Real Estate performance remains resilient
2	Leasing segment witnesses traction
3	Strong rebound in Hospitality Segment
4	Financial Performance
5	Land bank
6	Projects launched and upcoming launches

• Mn in Q3 FY22 Highlights: Real Estate - Q3 FY22 good sales and collections

• Brigade Plots at Mysore • Brigade – Plots at Orchards

Strong pipeline of upcoming projects of 2.4 Mn sft with key projects -

Bengaluru

• Brigade Komarla Heights
• Brigade Atmosphere Phase 2
• Brigade Millennium Annexe
• Brigade Laguna

Group Sales Snapshot

	Group Sales Snapshot
Particulars	9M FY22	9M FY21	9M FY22 on 9M FY21	Q3 FY22	Q2 FY22	Q3 FY21	Q3 FY22 on Q2 FY22	Q3 FY22 on Q3 FY21
				Net Area Sales ('000 sft)
Residential	3,128	2,842	10%	1,083	1,294	1478	(16%)	(27%)
Commercial	40	100	(60%)	7	19	55	(63%)	(88%)
Total	3,168	2,942	8%	1,090	1,313	1533	(17%)	(29%)
				Net Sale Value (INR Mn)
Residential	19,574	16,682	17%	6,801	8,085	8,793	(16%)	(23%)
Commercial	374	809	(54%)	41	221	439	(81%)	(91%)
Total	19,948	17,491	14%	6,842	8,306	9,232	(18%)	(26%)
Realization (INR/sft)	6,298	5,945	6%	6,281	6,322	6,022	(1%)	4%
			Average realization increased by 6% to INR 6,298/sft		in 9M FY22

Consolidated synopsis of Real Estate Projects

Consolidated synopsis of Real Estate Projects
Particulars	Ongoing BEL Projects	Ongoing SPV Stock Sales Projects*		Total
			In Mn sft
			BEL	SPV
Total super built-up area of projects on sale basis	15.66	1.11	0.74	0.63	18.14
Less: Landowner share	4.41	-	-	-	4.41
Company share of saleable area	11.25	1.11	0.74	0.63	13.73
Sold till date	7.30	0.68	-	-	7.98
To be sold	3.95	0.43	0.74	0.63	5.75
			INR Mn
Estimated receipts	65,184	9,294	8,415	6,045	88,938
From sold units	41,268	5,699	4,509	2,861	54,337
From unsold units	23,916	3,595	3,906	3,184	34,601
Collections to date on sold units	21,872	2,731	2,793	1,790	29,186
Remaining to be collected from sold units	19,396	2,968	1,716	1,071	25,151
Remaining to be collected from sold and unsold units [A]	43,312	6,563	5,622	4,255	59,752
Estimated Total Cost	51,484	6,691	2,354	2,532	63,061
Cost incurred till date	20,497	4,457	2,354	2,532	29,840
Remaining Cost to be incurred [B]	30,987	2,234	-	-	33,221
Gross Operating Cash Flows [A] – [B]	12,325	4,329	5,622	4,255	26,531
Present Borrowings [C]	1,168	67	99	1,595	2,929
Net Operating Cash Flows projected [A] - [B] - [C]	11,157	4,262	5,523	2,660	23,602

Contents

Contents
1	Real Estate performance remains resilient
2	Leasing segment witnesses traction
3	Strong rebound in Hospitality Segment
4	Financial Performance
5	Land bank
6	Projects launched and upcoming launches

Our Leasing Portfolio: Operating Assets

11

Capex Commitment

Capex Commitment
			(INR Mn)
Project	Estimated cost	Incurred	Balance*
Brigade Twin Towers	5,999	1,564	4,435
Total Commercial Lease	5,999	1,564	4,435
*As of December 21

Contents

Strong rebound in Hospitality Segment

• accounted for 25% of Room Night Sales international travel resumes fully

Contents

1	Real Estate performance remains resilient
2
	Leasing segment witnesses traction
3	Strong rebound in Hospitality Segment
4	Financial Performance
5
	Land bank
6	Projects launched and upcoming launches

Consolidated Financials: Snapshot

	Consolidated Financials: Snapshot
Particulars	9M FY22	9M FY21	9M FY22 on 9M FY21	Q3 FY22	Q2 FY22	Q3 FY21	Q3 FY22 on Q2 FY22	(INR Mn) Q3 FY22 on Q3 FY21
Revenue	21,008	11,895	77%	9,332	7,761	6,537	20%	43%
EBITDA	6,054	3,140	93%	2,697	2,157	1,575	25%	71%
Finance costs	3,342	2,568	30%	1,083	1,128	856	(4%)	27%
Profit before depreciation	2,712	571	375%	1,614	1,029	719	57%	124%
Depreciation	2,597	1,709	52%	871	881	591	(1%)	47%
Profit/(Loss) before share from Associate & Exceptional item	115	(1,137)	-	743	148	127	402%	485%
Add: Profit from Associate	26	21	24%	8	8	6	-	33%
Less: Exceptional Item	367	400	(8%)	-	156	400	-	-
PBT	(226)	(1,516)	-	751	(1)	(267)	-	-
Tax charge / (credit)	305	(357)	-	287	135	(52)	113%	-
PAT	(531)	(1,160)	-	464	(136)	(215)	-	-
PAT after MI	503	(859)	-	784	120	(161)	553%	-
EBITDA/Revenue	29%	26%		29%	28%	24%
PBT/Revenue	(1%)	(13%)		8%	-	(4%)
PAT/Revenue	(3%)	(10%)		5%	(2%)	(3%)

Business Segment Performance: 9M FY22

Particulars Real Estate Lease Rental Hospitality Total Revenue 15,611 4,158 1,239 21,008 as % of Total 74% 20% 6% 100% Direct Expenses 10,702 41 160 10,903 Admin Expenses 609 869 477 1,955 Selling Cost 415 185 51 651 Employee cost 845 273 327 1,445 EBITDA 3,040 2,790 224 6,054 EBITDA / Revenue % 19% 67% 18% 29% Finance costs 565 2,371 406 3,342 PBDT 2,475 419 (182) 2,712 Depreciation 63 2,003 531 2,597 PBTE 2,412 (1,584) (713) 115 PBTE/ Revenue % 15% (38%) (58%) 1% *PAT: Profit After Tax, PBTE: Profit Before Tax & Exceptional Items, EBITDA: Earnings before Interest Tax Depreciation Amortization, MI : Minority Interest, () indicates negative figure (INR Mn)

Consolidated Cash Flows

Consolidated Cash Flows
					(INR Mn)
Particulars	Q3 FY22	Q2 FY22	Q3 FY21	9M FY22	9M FY21
Operating Activities
Total Collections	10,951	9,369	6,819	27,492	15,935
Direct Cost/Construction Cost	(4,155)	(3,712)	(2,676)	(11,355)	(6,680)
Landowner Payments	(982) (831)	(939) (1,059)	(524)	(2,540) (2,628)	(1,235)
Employee and Admin Expenses Sales & Marketing Expenses	(455)	(302)	(635) (181)	(979)	(1,529) (488)
Statutory Payments	(1,047)	(1,210)	(296)	(2,779)	(789)
Other Payments	(73)	(13)	(9)	(111)	(65)
Net Cash Flow from Operating Activities (A)	3,408	2,134	2,498	7,100	5,149
Investment Activities
Cash from Investment Activities (FD & MF)	1,737	2,650	1,011	6,004	2,549
Construction Cost (CWIP/Capex Projects)	(732)	(588)	(1,357)	(1,958)	(3,928)
Investment in Land/JD/JV/TDR	(192)	(190)	112	(392)	(1,613)
Other Investments (FD & Mutual Fund)	(3,304)	(2,124)	(1,263)	(12,260)	(3,743)
Net Cash Flow from Investment Activities (B)	(2,491)	(252)	(1,497)	(8,606)	(6,735)
Financing Activities
Debt Drawdown	2,537	6,577	1,498	12,027	9,368
Investment by PE	-	500	10	750	510
Proceeds from QIP/ESOP/Share Warrants Dividend Payment	42 -	37 (252)	250 -	5,087 (252)	519 -
Debt Repayment	(2,936)	(7,766)	(1,841)	(14,185)	(6,682)
Finance costs	(779)	(831)	(982)	(2,488)	(2,738)
Net Cash Flow from Financing Activities (C)	(1,136)	(1,735)	(1,065)	939	977
Net Cash Flows for the Period (A+B+C)	(219)	147	(64)	(567)	(609)
	Total collections were INR 27,492 Mn in 9M FY22, a 73% increase from 9M FY21

Capital Allocation: Segment-wise as of 31st December 2021

Capital Allocation: Segment-wise as of 31st					December 2021
							(INR Mn)	Capital Employed %
Segment	Equity (A)	Debt (B)	Capital Employed (A+B)	D/E Ratio (A/B)	PBD*/ Equity %	Operating Capital Employed (OCE)	EBITDA/ OCE %	11%
Real Estate	21,042	2,929	23,971	0.14	16%	23,971	18%	31%
Hospitality	2,679	5,989	8,668	2.24	(4%)	8,333	5%
Leasing	12,339	32,100	44,439	2.60	6%	39,277	9%	58%
Less: Cash Balance		13,116						Real Estate Lease Rentals
Total	36,060	27,902	77,078	0.77	5%	71,581	12%	Hospitality
			Net Debt to Equity ratio stands reduced to 0.77 as on 31st				December 21
Note: PBD/Equity and EBITDA/OCE percentages are calculated based on trailing four quarter numbers *PBD: Profit Before Depreciation & Tax (After Interest)

Consolidated Debt Profile

Consolidated Debt Profile
Particulars	December-21	September-21	(INR Mn) December-20
Real Estate	2,929	3,451	6,084
Hospitality	5,989	6,100	5,738
GOP Securitised	4,899	5,015	4,257
Capex	1,090	1,085	1,481
Leasing	32,100	31,725	31,169
Securitised Lease Rental	23,752	23,564	17,193
Capex	8,348	8,161	13,976
Less: Cash & Cash Equivalents	13,116	11,670	4,852
Net Debt	27,902	29,606	38,139
Less: SPV Partner's share of debt	9,337	9,319	8,660
Exposure of BEL	18,565	20,287	29,479
Cost of Debt (Consolidated)	7.81%	7.92%	9.00%
Credit Rating	[ICRA] A+ (Stable), CRISIL A+/Stable	[ICRA] A+ (Stable), CRISIL A+/Stable	[ICRA] A (Stable), CRISIL A/Stable

Debt Profile & Cost of Borrowing

Standalone Financial Statement

	Standalone Financial Statement
Particulars	9M FY22	9M FY21	9M FY22 on 9M FY21	Q3 FY22	Q2 FY22	Q3 FY21	Q3 FY22 on Q2 FY22	(INR Mn) Q3 FY22 on Q3 FY21
Turnover	15,855	9,922	60%	7,139	6,046	5,515	18%	29%
EBITDA	4,773	3,197	49%	2,186	1,685	1,514	30%	44%
Finance costs	1,092	1,522	(28%)	336	362	506	(7%)	(34%)
Profit before depreciation	3,681	1,675	120%	1,850	1,323	1,008	40%	84%
Depreciation	645	639	1%	222	224	231	(1%)	(4%)
PBTE	3,036	1,036	193%	1,628	1,099	777	48%	110%
Less: Exceptional Items	-	400	-	-	-	400	-	-
PBT	3,036	636	377%	1,628	1,099	377	48%	332%
Tax charge / (credit)	787	177	345%	427	278	110	54%	288%
PAT	2,249	459	390%	1,201	820	267	46%	350%
EBITDA/Revenue	30%	32%		31%	28%	27%
PBT/Revenue	19%	6%		23%	18%	7%
PAT/Revenue	14%	5%		17%	14%	5%

Contents

Brigade's Land Bank

Developable Area Details

Developable Area Details
Product	Land Area	Project Area (Mn Sft)	BEL Share (Mn Sft)
Residential	248	29.5	21.5
Commercial-Sale	12	1.2	0.7
Commercial-Lease	53	6.8	6.2
Hotel	21	0.4	0.4	16%
Total	334	37.9	28.8
Location	Land Area	Project Area (Mn Sft)	BEL Share (Mn Sft)
Bengaluru	232	28	22
Chennai	49	6	4
Thiruvananthapuram	14	2	2
Others (Mysore, Gift City, Hyderabad, Kochi)	39	2	1

Commercial-Sale	12	1.2	0.7
Hotel	21	0.4	0.4
Chennai	49	6	4
Thiruvananthapuram	14	2	2
Others (Mysore, Gift City, Hyderabad, Kochi)	39	2	1
Total	334	38	29

Contents

Projects Launched: 9M FY22

Projects Launched: 9M FY22
Project	City	Segment	Project Area (Mn Sft)	BEL Economic Interest (Mn Sft)	Quarter Launched
Brigade El Dorado – K Block	Bengaluru	Residential	0.62	0.62	Q1
Brigade Xanadu Cluster 3	Chennai	Residential	0.77	0.47	Q1
		Residential	0.18	0.14	Q2
Brigade Gem	Bengaluru
Brigade Northridge Phase 2	Bengaluru	Residential	0.16	0.10	Q2
Brigade Utopia – Eden	Bengaluru	Commercial	0.14	0.14	Q2
Total			1.87	1.47

Upcoming Launches

Upcoming Launches
Segment	Total Area (Mn sft)	Brigade Economic Interest (Mn sft)
	2.38	1.35
Residential
Leasing	1.84	1.01
Total	4.22	2.36

31

Board of Directors

• Masters in Business Administration

Hospitality from Cornell University

• Part of Promoter Group

• Part of Promoter Group

Independent Director

• MBA from Wharton School, University of Pennsylvania
• Author and Entrepreneur

Executive Director Executive Director

• Masters of Management, • B Tech and Masters in Building Engineering and Management

M. R. Jaishankar Aroon Raman Lakshmi

Independent Director

• MBA from Boston University
• Retired IAS Officer

Executive Director

• Masters in Engineering from Pennsylvania Sate University
• Part of Promoter Group

Venkatachalam Panchapagesan

Independent Director

• CA, CWA, IIM K Alumni
• Faculty at IIM B

Independent Director

• Masters in Science
• Former MD of SBI

Pavitra Shankar

Executive Director

• MBA, Real Estate & Finance, Columbia Business School
• Part of Promoter Group

Independent Director

• PG Diploma in Business Management
• Rich experience in Retail Sector

Ongoing Residential Projects

Ongoing Commercial Projects

Completed Projects

Email:investors@brigadegroup.com

Brigade Enterprises Limited

29th & 30th Floor, World Trade Center Brigade Gateway Campus, Dr Rajkumar Road,

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.

Malleswaram-Rajajinagar, Bengaluru 560055 Thank you