Brigade Enterprises Ltd

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NSEBSE

1001.00-2.50 (-0.25%)

03:50 PM,26th Feb 2024

1001.00-3.20 (-0.32%)

04:01 PM,26th Feb 2024

BSE : 532929

NSE : BRIGADE

Sector : Infrastructure

ISIN Code : INE791I01019

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Last Updated: Feb 26 2024 | 04:01 PM IST

Market Cap (₹ Cr)

23133

Turnover (₹ Cr)

0.77

Volume (Shares)

76910

Face Value

10

52-WK High

1108.00

52-WK High Date

07 Feb 2024

52-WK Low

446.25

52-WK Low Date

15 Mar 2023

All Time High

1108.00

All Time High Date

07 Feb 2024

All Time Low

18.60

All Time Low Date

09 Mar 2009

Brigade Enterprises Ltd

Brigade Enterprises Ltd was incorporated on November 8 1995 as a real estate development company. The company is primarily engaged in real estate development leasing and hospitality and related services in South India. They are one of the leading property developers in the cities of Bangalore Mysore Kochi Hyderabad Mangaluru Chikmagaluru Ahmedabad & Chennai. The company was established on May 29 1990 as a partnership firm with the name Brigade Enterprises which was subsequently converted into a private limited company called Brigade Enterprises Pvt. Ltd on November 8 1995. The company was incorporated as a public limited company with the present name on July 20 2007. The company completed the construction of Brigade Gardens in January 1992. In April 1994 they completed the luxury apartments project Brigade Residency in Mysore which is first one outside Bangalore. In June 2000 they launched 'Homestead I' range of luxury service apartments in Bangalore and in December 2001 they completed the project namely Komarla Brigade Residency which is an eco-friendly building.In August 2002 Brigade Developers Pvt. Ltd and Brigade Investments and Projects Pvt. Ltd merged with company with effect from April 1 2001. In June 1 2004 the company incorporated Brigade Hospitality Services Pvt. Ltd as a 100% subsidiary company. In October 2005 Brigade Constructions Pvt. Ltd merged with company with effect from April 1 2004. In June 2006 they completed the project Brigade Millennium which is an integrated lifestyle enclave in Bangalore.The company incorporated Brigade Estates and Projects Pvt. Ltd and Brigade Properties Ltd on December 7 2006 and May 16 2007 respectively. The company completed the projects Brigade Gateway at Malleswaram and Brigade Metropolis at Whitefield during the years which are a part of integrated lifestyle enclaves developed by the company.In July 2008 the company won a bid for the property of 10.5 acres on Old Madras Road Bangalore. Also they launched their IT SEZ project Kochi. The company had recently bagged the tender to co-develop five acres of land in Kochi to develop about 6 lakh sq ft IT SEZ space. The project is expected to be completed in about 2 years. Brigade Enterprises Ltd has secured a spot in the latest annual 'Best Under a Billion' list for the Asia-Pacific region in the US magazine Forbes.During the year under review BCV Developers Private limited became a subsidiary of the Company with effect from 21st January 2015. BCV Developers Private Limited owns the land wherein the Brigade Orchards the first smart township project in Bangalore is being developed by the Company on 130 plus acres of land.Brigade (Gujarat) Projects Private Limited was incorporated on 26th March 2015 as a wholly owned subsidiary of the Company which would undertake the development of 1.1 mn. sq. ft. development at Gujarat International Finance Tec-city (GIFT City) Ahmedabad.Brigade Properties Private Limited subsidiary of the Company had acquired the entire shareholding in Brooke Bond Real Estates Private Limited on 23rd March 2015. Due to this acquisition Brooke Bond Real Estates became a wholly owned subsidiary of Brigade Properties Private Limited and a step down subsidiary of the Company. Brooke Bond Real Estates Private Limited owns a landmark SEZ property admeasuring 26.5 acres known as Brookefields.During the year 2015 the Company has entered into a framework agreement with GIC Singapore for jointly investing upto Rs 1500 crores within a time frame of 3 years for acquiring properties for mixed-use development in the major cities in South India. The Partnership with GIC got further strengthened with the acquisition of Brooke Bond Real Estates Private Limited which holds a prime SEZ land popularly known as Brookefields.In FY 2015 BCV Developers Private Limited a subsidiary company had filed a scheme of amalgamation with two joint venture companies {BCV Estates Private Limited and CV Properties (Bangalore) Private Limited} with the appointed date for the scheme being 1st October 2013. The scheme has been sanctioned by the Hon'ble High Court of Karnataka and the process of amalgamation is currently pending for filing with the Registrar of Companies. During the year 2015 Prosperita Hotel Ventures Limited a wholly owned subsidiary of the Company (transferee company) along with Subramanian Engineering Company Limited (transferor company) had filed a scheme of demerger with the appointed date for the scheme being 1st October 2013. The scheme of demerger has been sanctioned by the Honourable High Court of Madras recently. The effect of the demerger would be given in the books of Prosperita Hotel Ventures Limited after the Court Order is filed with the Registrar of Companies.During the year 2015 Brigade Group entered into partnerships with online real estate portals for online offers on its luxury projects. The Company launched an online booking platform for customers to book a Brigade apartment online in a few easy steps. It also rolled out a customer portal which is the first by a Bangalore Developer. This portal allows residential buyers to access details of the home they purchased.During the year 2016 the Company entered into joint venture with Reco Caspia Private Limited an investment arm of GIC Singapore& sovereign wealth fund for acquisition of 16-acre prime property in Chennai from M/s. Kansai Nerolac Paints Limited. The acquisition was done through JV - M/s Perungudi Real Estates Private Limited.During the year 2017 two wholly owned subsidiaries namely Brigade Hotel Ventures Limited and Augusta Club Private Limited were incorporated to facilitate a Scheme of Arrangement for hiving-off of the hotels' business integrated clubs and convention centres business of the Company. Further investment in Mysore Projects Private Limited (MPPL) was made by way of subscription to shares and acquiring shares from the existing shareholders thereby making MPPL a wholly owned subsidiary of the Company. The Company incorporated Brigade Innovations LLP a wholly owned subsidiary for undertaking real estate accelerator programme.During the year 2017 the Board of Directors of the Company approved the hiving off of the hospitality business in to wholly owned subsidiaries. The Scheme of arrangement was filed with both Stock Exchanges i.e. National Stock Exchange of India Limited on January 25 2017 and BSE Limited on January 24 2017 pursuant to Regulation 37 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 and the Company has received the observation letters from the stock exchanges. The implementation of the Scheme will be completed in the next financial year.During the year the Board of Directors of the Company approved raising of capital of upto Rs. 500 crores on private placement basis through various means viz. Qualified Institutional Placement Rights Issue Preferential Issue etc. in its meeting held on May 16 2016 and the same was approved by the Shareholders in the 21st Annual General Meeting held on August 31 2016.During the year 2018 the Scheme of Arrangement between the Company and its three wholly owned subsidiaries namely Brigade Hotel Ventures Limited Brigade Hospitality Services Limited and Augusta Club Private Limited for transfer of the hotel business undertaking integrated clubs and convention centres business undertaking and Augusta Club business undertaking respectively to the said subsidiaries were approved by the Secured Creditors Unsecured Creditors and Shareholders of the Company in their respective meetings. The appointed date for the Scheme of Arrangement was October 01 2016. The Hon'ble National Company Law Tribunal Bengaluru passed the Order approving the Scheme of Arrangement on March 13 2018. The Order was filed with the Ministry of Corporate Affairs on April 01 2018. The Scheme of Arrangement will enable focused approach for the respective business undertakings for growth and to unlock the intrinsic value at the appropriate time.During the year 2018 the Company has successfully completed a Qualified Institutional Placement (QIP) raising Rs. 500 crores from Qualified Institutional Buyers by issue of 21978021 equity shares of Rs. 10/- each at an issue price of Rs. 227.50 per equity share including premium of Rs. 217.50 per share. The monies raised has been utilised in line with the objects to the issue mentioned in the Placement Document.The Company had 13 direct subsidiaries 2 step down subsidiaries 2 limited liability partnerships and 1 associate company as at March 31 2019. In FY'19-20 the Company launched Bricklane in North Bengaluru which has 750 units. During the financial year 2018-19 the Company completed construction work aggregating a total of 4.81 mn. sqft. It launched total area of 5.8 mn. Sqft in the residential space including Brigade Woods Brigade Bricklane Brigade Plumeria lifestyle Brigade Parkside at Mysore Road Sarjapur Jalahalli and Pre-launch of Brigade Cornerstone Utopia Phase -1. Real Estate space aggregating to 2.96 mn. sqft. with total value of Rs. 1644 crores was sold during FY 2018-19. . In the Hospitality business Four Points by Sheraton Kochi opened in January 2019 with 218 keys taking the total operational keys to 1194 across 6 hotels. During the year 2019 a Memorandum of Understanding with Technopark Government of Kerala was entered for developing the iconic World Trade Center (WTC) at Technocity Thiruvananthapuram with a potential to build over 2 mn. sqft. It launched BuzzWorksa new co-working space business an initial plan of adding 2500+ seats across Bengaluru Kochi and GIFT City (Gujarat) in March 2019.During financial year 2019-20 Company launched five new residential projects including Brigade Topaz Brigade El Dorado- Gallium and Helio and Brigade Cornerstone Utopia- Halycon. It launched around 12 projects including 9 projects in Bengaluru 2 in Chennai and 1 in Mysuru. The projects launched aggregated to a total of 5.28 msf of which 4.16 msf was for residential including 2 projects in the affordable housing segment of 1.4 msf. Further it launched commercial projects of 1.12 msf and added 151 keys to the hospitality portfolio. It completed the construction project of of 5.82 mn. sq. ft.During financial year 2020-21 the Company completed construction project aggregated to 4.44 mn. sq. ft. It launched around 11 projects including 6 projects in Bengaluru 2 in Chennai and 3 in Hyderabad which aggregated to a total of 6.03 million square feet (msf) of which 4.51 msf was for residential space and 1.52 msf was for commercial space. During the third quarter of FY21 it operationalised another property in Bengaluru - Holiday Inn Express & Suites - with 129 keys and achieved 26% occupancy level. On June 21 2021 the Company launched the offering of its equity shares through a Qualified Institutions Placement (QIP) in accordance with the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009. Pursuant to QIP the Company received an amount of Rs 50000 Lakhs against the issue of 18656716 equity shares of face value of Rs 10 each to Qualified Institutional Buyers and the same were allotted and listed for trading on the National Stock Exchange of India Limited and Bombay Stock Exchange Limited from June 252021. In FY'22 the Company ventured into plotted development Industrial Parks and Logistic segment. During the year 2023 the Company completed Phase I Brigade Atmosphere Brigade Bricklane Residences at Brigade Tech Gardens Brigade Northridge Neo Brigade Orchards - Kino Brigade Parkside East Brigade 7 Gardens and Brigade Parkside North. It launched 14 projects totaling 5.46 Million sq. ft of which 0.19 Million sq. ft was for commercial space and the balance was for residential and plotted space which included Brigade Orchards Neem Grove Brigade Eldorado Iridium Block Brigade Atmosphere Pearl Block Brigade Nanda Heights Brigade Horizon Brigade Eldorado Emerald Block Brigade Oasis Phase 1 Brigade Oasis Phase 2 Brigade Calista Phase 1 Brigade Eldorado Luminaire Block Brigade Valencia Cielo Block Residences@ Brigade Tech Gardens located in Bengaluru; Brigade Oak Tree Place in Mysore and Brigade Square in Trivandrum for Commercial purpose. During the year 2022-23 BCV Real Estates Private Limited was incorporated as a wholly owned subsidiary of BCV Developers Private Limited subsidiary of the Company on May 4 2022; Tandem Allied Services Private Limited an associate company became a step down subsidiary with effect from June 30 2022; Tetrarch Real Estates Private Limited became a wholly owned subsidiary of the Company with effect from January 13 2023; Mysore Projects Private Limited a wholly owned subsidiary of the Company has ceased to be Designated Partner of Prestige OMR Ventures LLP with effect from September 30 2022. Due to this Prestige OMR Ventures LLP ceased to be an Associate of Brigade Enterprises Limited with effect from September 30 2022.

Brigade Enterprises Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

23133

EPS - TTM (₹) [S]

11.37

P/E Ratio (X) [S]

5.78

Face Value (₹) 10
Latest Dividend (%)20.00
Latest Dividend Date 31 Jul 2023
Dividend Yield (%) 0.20
Book Value Share (₹) [S]173.25
P/B Ratio (₹) [S]5.78
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
SBI Multi Asset Allocation Fund (IDCW-M) 49.31 500000 1.31
SBI Multi Asset Allocation Fund - Direct (G) 49.31 500000 1.31
SBI Multi Asset Allocation Fund - Direct (IDCW-A) 49.31 500000 1.31
SBI Multi Asset Allocation Fund - Direct (IDCW-M) 49.31 500000 1.31
SBI Multi Asset Allocation Fund - Direct (IDCW-Q) 49.31 500000 1.31
SBI Multi Asset Allocation Fund (IDCW-A) 49.31 500000 1.31
SBI Multi Asset Allocation Fund (IDCW-Q) 49.31 500000 1.31
SBI Multi Asset Allocation Fund (G) 49.31 500000 1.31
Aditya Birla SL Regular Savings Fund-Dir (Payment) 6.90 70000 0.49
Aditya Birla SL Regular Savings Fund-Dir (G) 6.90 70000 0.49

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Research Reports

Date BrokerActionPrices(Rs)Report
08-09-2023ICICI Securities Buy 595
31-03-2023Geojit Financial Services Accumulate 465
30-05-2022Nirmal Bang Buy 445

Stock Strength

Today's Low/High

987.95

1011.45

Week Low/High

977.15

1055.00

Month Low/High

942.05

1108.00

Year Low/High

446.25

1108.00

All time Low/High

18.53

1108.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week0.49%0.36%0.110.00%
1 Month2.93%2.67%2.963.60%
3 Month35.81%35.70%10.3411.76%
6 Month70.31%70.41%12.1814.83%
1 Year114.51%114.30%22.4126.66%
3 Year246.49%245.35%48.2552.26%

Company Info

Company Information

Company Sec. & Compli. Officer : P Om Prakash

Executive Chairman : M R Jaishankar

Vice Chairman : Aroon Raman

Independent Director : Bijou Kurien

Independent Director : Lakshmi Venkatachalam

Independent Director : Pradeep Kumar Panja

Independent Director : Venkatesh Panchapagesan

Executive Director : Amar Mysore

Managing Director : Pavitra Shankar

Joint Managing Director : NIRUPA SHANKAR

Executive Director : ROSHIN MATHEW

Independent Director : V V Ranganathan

Whole-time Director : KRISHNA KUMAR PRADYUMNA

Registered Office: 29 & 30 Flr World Trade Center, 26/1 Dr Rajajinagar,Bangalore,Karnataka-560055 Ph: 91-80-41379200

Email:investors@brigadegroup.com

URL:http://www.brigadegroup.com