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Director's Report
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Brigade Enterprises LtdIndustry : Construction
BSE Code:532929
ISIN Demat:INE791I01019
Book Value(Rs):112.92
NSE Symbol:BRIGADE
Div & Yield %:0.7
Market Cap (Rs Cr.):3889.96
P/E(TTM):16.82
EPS(TTM):11.32
Face Value(Rs):10
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Dear Members

We have pleasure in presenting the Twenty Third Annual Report on business and operations of the Company together with the Audited Statement of Accounts for the financial year ended March 31, 2018.

FINANCIAL HIGHLIGHTS:

(Rs. in Lakhs)

Particulars Standalone Consolidated
2017-18 2016-17 2017-18 2016-17
Total Revenue 1,36,827 1,58,999 1,94,551 2,05,838
Operating Expenditure 86,412 1,09,999 1,34,274 1,44,978
Earnings before Interest, Depreciation & Amortization 50,415 49,000 60,277 60,860
Depreciation & Amortization 6,905 7,604 13,766 12,255
Finance Costs 18,329 17,953 25,940 24,648
Profit before Tax from Continuing Operations 25,181 23,443 20,571 23,957
Expense on Demerger - - 1,154 -
Profit before tax and after Exceptional Items 25,181 23,443 19,417 23,957
Tax Expense
Current Tax 6,755 6,111 9,778 9,267
Deferred tax charge/(credit) 375 797 (3,496) (1,951)
Profit for the year from Continuing Operations 18,051 16,535 13,135 16,641
Discontinued Operations
Profit/Loss from Discontinued Operations - (138) - -
Profit for the Year 18,051 16,397 13,135 16,641
Share of profit from associate - - 153 79
Net Profit after taxes & Share of Profit of Associate 18,051 16,397 13,288 16,720
Other Comprehensive income (net of tax) 104 32 113 31
Total Comprehensive income for the year 18,155 16,429 13,401 16,751
Profit/(loss) attributable to:
Equity holders of the Parent - - 14,033 15,339
Non-Controlling Interests - - (632) 1,412

Details of Appropriations:

(Rs. in Lakhs)

Particulars Standalone Consolidated
2017-18 2016-17 2017-18 2016-17
Surplus in the retained earnings as per last financial statements 78,363 62,513 71,192 56,706
Total Comprehensive income for the year (net of Non-controlling interest) 18,155 16,429 14,033 15,339
Less: Cash dividends declared and paid
Final Dividend for FY 2016-17 3,392 - 3,392 -
Less: Tax on dividends paid on Final Dividend 691 - 691 -
Less: Other adjustments (Net) - 579 364 853
Net Surplus in the statement of profit and loss carried forward 92,435 78,363 80,778 71,192

FINANCIAL OVERVIEW:

During the financial year 2017-18, the Company has on a standalone basis, clocked a total income of Rs. 1,36,827 Lakhs as compared to Rs. 1,58,999 Lakhs for the previous year ended March 31, 2017, a decrease of 14% on a year-on-year basis. Earnings before Interest,Tax, Depreciation and Amortization (EBITDA) has increased from Rs. 49,000 Lakhs to Rs. 50,415 Lakhs an increase of 3%. Total Comprehensive income was at Rs. 18,155 Lakhs for the financial year ended March 31, 2018 as compared to Rs. 16,429 Lakhs for the previous year, an increase by 11%.

The consolidated revenue for the Company for the financial year 2017-18 was Rs. 1,94,551 Lakhs as compared to Rs. 2,05,838 Lakhs in the previous year, a decrease of 5% on year-on-year basis. Earnings before Depreciation, Interest, Tax and Amortization (EBITDA) marginally decreased from Rs. 60,860 Lakhs in the previous year to Rs. 60,277 lakhs, for the financial year 2017-18. Total Comprehensive income was at Rs. 13,401 Lakhs for the financial year ended March 31, 2018 as compared to Rs. 16,751 Lakhs for the previous year, a decrease by 20%.

SUBSIDIARIES/ JOINT VENTURES AND ASSOCIATES:

The Company had a total of 15 subsidiaries, 2 limited liability partnerships and 1 associate company as at March 31, 2018.

SCHEME OF ARRANGEMENT:

During the Year under review, 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.

FINANCIAL STATEMENTS OF SUBSIDIARIES AND ASSOCIATE COMPANIES:

In accordance with the provisions of Section 129 (3) of the Companies Act, 2013 read with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the consolidated financial statements have been prepared by the Company which forms part of this Annual Report. A statement containing the salient features of the financial statements of subsidiaries/associates as required in Form AOC 1 is enclosed as Annexure-1 to this Report.

TRANSFER TO RESERVES:

The Company has not transferred any amount to General Reserves during the financial year 2017-18.

DIVIDEND:

The Board of Directors of the Company have recommended a dividend of Rs. 2.00 (Rupees Two only) (20%) per Equity Share of Rs. 10 each which is subject to approval of the Shareholders in the ensuing Annual General Meeting of the Company.

The Dividend Distribution Policy of the Company is enclosed as Annexure-2 to this Report and which is also hosted on the website of the Company (www,brigadegroup.com).

FIXED DEPOSITS:

The Company has not accepted any fixed deposits in terms of Chapter V of the Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014, during the year under review. Accordingly, no amount is outstanding as on the balance sheet date.

DEBENTURES:

During the year under review, the Company has not issued any Debentures. As on date, the Company does not have any outstanding Debentures.

DEPOSITORY SYSTEM:

Company's equity shares are tradable only in electronic form. As on March 31, 2018, 99.99% of the Company's total paid up equity share capital representing 13,60,74,104 shares are in dematerialised form.

TRANSFER TO INVESTOR PROTECTION FUND:

During the year, the Company transferred Rs.1,30,141/- to the Investor Education and Protection Fund, the amount in unpaid Dividend Account opened in 2009-10 which was due & payable and remained unclaimed & unpaid for a period of seven years as provided under Section 124(5) of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Auditing, Transfer and Refund) Rules, 2016. The Company pursuant to the circulars issued by Ministry of Corporate Affair under the aforesaid rules mandated the transfer of shares on which dividend has not been paid or claimed by the shareholders for seven consecutive years or more to the demat account of the Investor Education and Protection Fund Authority. The Company has accordingly transferred 10,040 shares to the demat account of the Investor Education and Protection Fund Authority. The details of the above are provided in the website of the Company at www.brigadegroup.com.

QUALIFIED INSTITUTIONAL PLACEMENT:

During the year, your Company has successfully completed a Qualified Institutional Placement (QIP) raising Rs. 499,99,99,777.50 from Qualified Institutional Buyers by issue of 2,19,78,021 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.

EMPLOYEE STOCK OPTION SCHEME:

The Employee Stock Option Scheme titled "Brigade Employee Stock Option Plan 2011" was rolled out in the financial year 2014-15. Statement giving detailed information on the plan in accordance with SEBI Regulations is contained in Annexure-3 to this Report.

During the year, the Company has obtained the approval of the Shareholders for new ESOP scheme "Brigade Employee Stock option Plan 2017" and obtained in-principle approval of the Stock Exchanges for the Scheme. The Company has not issued any grants under the Brigade Employee Stock option Plan 2017 in the financial year 2017-18.

SHARE CAPITAL:

The authorised share capital of the Company is Rs. 150,00,00,000/- divided into 15,00,00,000 equity shares of Rs.10/- each. During the year, the Company has issued and allotted 4,31,850 equity shares of the Company to the eligible employees on exercise of options granted under the Brigade Enterprises Limited Employee Stock Option Scheme, 2011 and 2,19,78,021 equity shares to Qualified Institutional Buyers (QIB's) in the Qualified Institutional Placement (QIP) Issue. Consequently, the issued, subscribed and paid–up equity share capital of the Company has increased from 11,36,64,740 equity shares of Rs. 10/- each to 13,60,74,611 equity shares of Rs. 10/- each.

OPERATIONAL REVIEW:

The operations of the Company can be classified into two main Segments:

1. Income from construction and development of Real Estate Projects

2. Lease Rental Income from Office and Retail Assets

The Real Estate segment specialises in development of residential and commercial projects on sale basis. The revenues of this segment is recognised either on percentage of completion method during construction or unit sale method after the completion of the projects.

The Office and Retail segment concentrates on developing office and retail assets and identifying suitable tenants on long term lease for the Assets owned by the Company.

A detailed information of ongoing projects as on March 31, 2018 has been given in the Management Discussion and Analysis Report which is forming part of the Annual Report.

PROPOSED PROJECTS

The Group proposes to launch 11.58 mn. sq. ft. in the financial year 2018-19. This will comprise of 8.31 mn. sq. ft. of residential space and 3.27 mn. sq. ft. of commercial space. A total 304 keys will be launched in hospitality business in the financial year 2018-19.

COMPLETED PROJECTS

During the financial year 2017-18 a total of 5.05 mn. sq ft. has been constructed.

ONGOING PROJECTS

The group is currently having ongoing real estate projects aggregating to 12.33 mn. sq. ft of saleable area, commercial projects aggregating to 6.71 mn. sq. ft. and hospitality projects aggregating to 508 keys.

BOARD OF DIRECTORS:

The Board of Directors of the Company as on March 31, 2018 comprises of 9 Directors out of which 2 are Executive Directors, 2 Non-Executive Directors and 5 Non-Executive Independent Directors. The composition of the Board of Directors is in due compliance of the Companies Act, 2013 and SEBI

(Listing Obligations and Disclosure Requirements) Regulations, 2015.

BOARD MEETINGS:

During the year under review, the Board of Directors of the Company has met 8 times on the following dates:

• April 25, 2017

• May 22, 2017

• July 31, 2017

• August 08, 2017

• September 21, 2017

• November 10, 2017

• February 08, 2018

• March 23, 2018

In accordance with the provisions of the Companies Act, 2013, a separate meetings of the Independent Directors and other Directors of the Company was held on March 23, 2018.

A detailed note on the composition of various Committees of the Board and their meetings including the terms of reference were given in the Corporate Governance Report forming part of the Annual Report.

POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION:

The Directors of the Company are appointed by the members at annual general meetings in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder.

The Company has adopted the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 relating to the appointment and tenure of Independent Directors.

The Company's Remuneration Policy for Directors, Key Managerial Personnel and Senior Management Personnel is contained in Annexure-4.

APPOINTMENT/ RE-APPOINTMENT OF DIRECTORS :

In accordance with the Articles of Association of the Company and the provisions of Section 152(6)(e) of the Companies Act, 2013, Ms. Githa Shankar (DIN 01612882), Whole-time Director of the Company will retire by rotation at the ensuing Annual General Meeting and being eligible, offers herself for reappointment.

In the Board Meeting of the Company held on May 16, 2018, Mr. Pradeep Kumar Panja (DIN: 03614568) and Dr. Venkatesh Panchapagesan (DIN: 07942333), have been appointed as an Independent Directors for a period of five years with effect from May 16, 2018 and Ms. Pavitra Shankar (DIN: 08133119), Ms. Nirupa Shankar (DIN: 02750342) and Mr. Amar Mysore (DIN: 03218587), have been appointed as Wholetime Directors, designated as Executive Directors of the Company for a period of five years with effect from May 16, 2018.

The Notice convening the Annual General Meeting includes the proposals for the appointment of the Directors. Brief resume of the Directors proposed to be appointed, nature of their expertise in specific functional areas and names of the Companies in which they hold directorship/ membership/ chairmanship of the Board or Committees, as stipulated under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 have been provided as an annexure to the Notice convening the Twenty Third Annual General Meeting.

None of the Directors of the Company are disqualified under Section 164(2) of the Companies Act, 2013.

DECLARATION BY INDEPENDENT DIRECTORS

The Independent Directors of the Company have provided the declaration of Independence as required under Section 149(7) of the Companies Act, confirming that they meet the criteria of independence under Section 149(6) of the Companies Act and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ANNUAL PERFORMANCE EVALUATION OF THE BOARD:

The Board conducted an evaluation of itself & its Committees based on identified criteria and framework pursuant to the provisions of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board evaluated and assessed the performance and potential of each Director.

In a separate meeting of independent directors, performance of non-independent directors, performance of the Board as a whole and the performance of the Chairman was evaluated, taking into account the views of executive directors and non-executive directors. The same was discussed in the Board meeting that followed the meeting of independent directors, at which the performance of the Board, its committees and individual directors was also discussed. Performance evaluation of the independent directors has been done by the entire Board excluding the independent director being evaluated.

Pursuant to SEBI guidelines on Board Evaluation, Independent Directors have also reviewed the quality, content and timelines of the flow of information between the management and the Board and its Committees which is necessary to effectively and reasonably perform and discharge their duties.

DIRECTORS' RESPONSIBILITY STATEMENT:

The Board of Directors hereby confirms that:

a) in the preparation of the annual financial statements for the year ended March 31, 2018, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b) the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;

c) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) the annual financial statements have been prepared on a going concern basis;

e) proper internal financial controls were in place and that the financial controls were adequate and were operating effectively;

f) there are proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

KEY MANAGERIAL PERSONNEL:

During the year under review, Mr. Suresh K resigned from the position of Chief Financial Officer & Key Managerial Personnel with effect from July 31, 2017 and subsequently Mr. K. P. Pradeep has been appointed as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from August 04, 2017.

Mr. M. R. Jaishankar, Chairman & Managing Director, Mr. K. P. Pradeep, Chief Financial Officer and Mr. P. Om Prakash, Company Secretary & Compliance Officer are the Key Managerial Personnel in accordance with the provisions of Section 203 of the Companies Act, 2013.

REMUNERATION DETAILS OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND EMPLOYEES:

The particulars as required under Section 197 of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is contained in Annexure-5.

The details of employees who are in receipt of remuneration exceeding the limits prescribed under Section 134 of the Companies Act, 2013 read with Rule 5(2) & 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is appended as Annexure-6. In terms of Section 136(1) of the Companies Act, 2013 and the Rules made thereunder, the Annual Report is being sent to the shareholders and others entitled thereto excluding the aforesaid annexure. Any shareholder interested in obtaining the same may write to the Company Secretary.

STATUTORY AUDITORS:

Messers S. R. Batliboi & Associates LLP, Chartered Accountants (Firm Registration Number 101049W/E300004 were appointed at the Nineteenth Annual General Meeting held on August 5, 2014 as the Statutory Auditors of the Company for a period of 5 years till the conclusion of Twenty Fourth Annual General Meeting of the Company. They have confirmed their eligibility for the FY 2018-19 under Section 141 of the Companies Act, 2013 and the Rules framed thereunder. The Companies Amendment Act, 2017 has omitted the requirement of ratification of the appointment of Statutory Auditors at every annual general meeting. The relevant amendment made effective on May 7, 2018. Hence the ratification of the appointment of Statutory Auditors at the ensuing 23rd AGM is not required.

SECRETARIAL STANDARDS:

The Company has complied with the Secretarial Standards issued by the Institute of Company Secretaries of India.

SECRETARIAL AUDIT REPORT:

Pursuant to provisions of the Companies Act, 2013, the Board of Directors of the Company have appointed Mr. K Rajshekar, Practicing Company Secretary (CP No.2468) to conduct the Secretarial Audit for the financial year 2017-18 and his Report on Company's Secretarial Audit is appended as Annexure-7 to this Report.

COST AUDITORS:

The Board of Directors of the Company have appointed Messrs Murthy & Co. LLP, Cost Accountants (LLP ID No. AAB-1402) as Cost Auditors of the Company for the financial year 2017–18 at a fee of Rs. 1.25 lakhs plus applicable taxes and out of pocket expenses subject to the ratification of the said fees by the Shareholders at the Annual General Meeting of the Company pursuant to provisions of Section 148 of the Companies Act, 2013.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The Management's Discussion and Analysis Report for the year under review, as stipulated under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is forming part of the Annual Report.

CORPORATE GOVERNANCE REPORT:

The Company is committed to maintaining the highest standards of Corporate Governance. A detailed report on Corporate Governance pursuant to Schedule V(C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of the Annual Report.

The certificate issued by Ms. Aarthi G. Krishna, Practicing Company Secretary (CP No.5645) affirming compliance with the various conditions of Corporate Governance is attached to the report on Corporate Governance.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The details of loans given, investments made, securities provided and guarantees given are provided in note 6 and 7 forming part of the standalone financial statements.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

All the transactions entered into during the financial year 2017-2018 with related parties were in the ordinary course of business and on arm's length basis and with the prior approval of the Audit Committee.

The Company has formulated a policy on Related Party Transactions which is available on the website of the Company at http://www.brigadegroup. com/investor/images/policy-related-party-transactions.pdf.

During the year the Company has not entered in to any contract/ arrangement/ transaction with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions.

Transactions with related parties during the year are listed out in note 33 forming part of the standalone financial statements.

INTERNAL FINANCIAL CONTROL SYSTEM:

The Company has adequate internal financial control systems in place with reference to the financial statements.

During the year under review, these controls were evaluated and no significant weakness was identified either in the design or operation of the controls.

RISK MANAGEMENT COMMITTEE:

As required under Regulation 21 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Company has constituted a Risk Management Committee consisting of Executive Director, Non-Executive Director and Independent Directors to identify and assess business risks and opportunities. The Risk Management Committee identifies the risks at both enterprise level as well as at the project level.

The business risks identified are reviewed by the Risk Management Committee and a detailed action plan to mitigate identified risks is drawn up and its implementation monitored. The key risks and mitigation actions will also be placed before the Audit Committee of the Company.

CORPORATE SOCIAL RESPONSIBILITY:

A Corporate Social Responsibility (CSR) Committee has been constituted in accordance with the provisions of Section 135 of the Companies Act, 2013. The details of the constitution of the Committee, scope and functions are listed out in the Corporate Governance Report annexed to this Report.

The disclosures as required under Section 135 of the Companies Act, 2013 read with Rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014 is appended as Annexure-8 to this Report.

WHISTLE BLOWER POLICY/VIGIL MECHANISM:

The Company has established a vigil mechanism for Directors and Employees to report their genuine concerns, illegal, unethical behaviour, suspected fraud or violation of laws, rules and regulation or conduct to the Ethics Committee members and the Chairman of the Audit Committee. The details of which have been given in the Corporate Governance Report forming part of this Annual Report.

EXTRACT OF ANNUAL RETURN:

In terms of Section 92 (3) of the Companies Act, 2013 read with the Companies (Management and Administration) Rules, 2014, the extract of the Annual Return of the Company for the financial year 2017-18 in Form No. MGT-9 is appended as Annexure-9 to this Report.

CODE OF CONDUCT:

Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the declaration signed by the Chairman and Managing Director and Chief Financial Officer affirming compliance of the Code of Conduct by the Directors and senior management personnel of the Company for the financial year 2017-18 is annexed and forms part of the Corporate Governance Report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

The particulars in respect of conservation of energy, technology absorption and foreign exchange earnings & outgo, as required under Section 134(3)(m) of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 is appended as an Annexure-10 to this report.

HUMAN RESOURCES:

The Company has a total workforce of 678 as on March 31, 2018. The Company believes that only way it can excel is by empowering its people and consistently providing opportunities to learn and grow. Our Learning & Development process for employees is focused on supporting high performance through various approaches driven comprehensively by HR, Business Excellence, QA/QC, Safety & Technical training teams. The Company aims to contribute to the overall development of its employees through extensive training & motivational programmes. The Board of Directors would like to express their appreciation to employees for their sincerity, hard work, dedication and commitment.

As part of the policy for Prevention of Sexual Harassment in the organization, the Company has in place a Committee called "Complaints Redressal Committee'' for prevention and redressal of complaints on sexual harassment of women at work place in accordance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and relevant rules thereunder. During the period under review, no complaints were received by the Committee.

AWARDS AND RECOGNITIONS:

Among the significant awards Brigade Group has received in 2017-18 are:

• Brigade has been recognized for being amongst the best in the Construction and Real Estate industry, at the Great Place To Work for 2017 Awards.

• WTC Kochi won the ‘Commercial Project of the Year' award at the 9th Realty Plus Excellence Awards (SOUTH) 2017.

• Brigade Palmgrove, Mysuru won in the ‘Villas & Row Houses' category at the CREDAI Karnataka's CARE Awards 2017.

• Brigade was recognised as one of India's Top Builders at the Construction World Architects & Builders Award 2017.

• Brigade Palmgrove won the first prize and Brigade Symphony won the second prize for the ‘Best Landscaped Gardens' at the Annual Mysuru Dasara Flower Show 2017 jointly organised by Horticulture Department, District Horticulture Association and Mysuru City Corporation (MCC), at Mysuru.

• Brigade Exotica won the Best Residential Project at the CIA World Construction & Infra Awards 2018.

• Brigade Palmgrove Mysore won the Premium Villa Project of the Year at NDTV Property Awards 2018.

• Brigade won the first runner up award for Excellence in Workplace Safety Award from CII, Institute of Quality.

• Brigade was recognised as one of Bengaluru's Hot 50 Brands at the Brand Summit & Hot Brands 2018 event organised by Paul Writer.

• Orion East won in the ‘Shopping Malls' category at the CREDAI Karnataka's CARE Awards 2017.

• Orion Mall won the Images Most Admired Shopping Centre of the Year: Metro South at the Images Shopping Centre Awards 2017.

• Orion Mall won the Images Most Admired Shopping Centre of the Year: Marketing and Promotions-South at the Images Shopping Centre Awards 2017.

• Orion Mall won the Images Most Admired Shopping Centre of the Year: Best Sales Per sqft.-South at the Images Shopping Centre Awards 2017.

• Brigade has been recognised as one of the ‘Companies with Great Mangers' in India. Two managers from Brigade were selected in the list ‘Hunt for Great Managers'- Ms. Jayashree Venkatesh- Sr. General Manager-QS received the award in the category ‘Women Leaders' and Mr. Manu R- Sr. DGM-Facilities received the award in the category ‘Overall'.

• Mr. M R Jaishankar is ranked no.27th amongst the Top 100 CEO's of India and 2nd in the Real Estate and Construction Sector by Business Today & PwC.

• Mr. M R Jaishankar, CMD, Brigade Enterprises Ltd. was awarded the ‘Scroll of Honour' for his contributions to the real-estate sector at 9th Realty Plus Excellence Awards (SOUTH) 2017.

• Mr. M R Jaishankar was felicitated for being one of the top 10 visionaries from South India, who have built great consumer Brands, Retail Concepts and Shopping & Leisure Spaces at Images South India Retail Award 2017.

• Mr. M R Jaishankar was conferred the ‘Entrepreneur Extraordinaire Award' by Builders Association of India, Mysuru Centre.

• Ms. Nirupa Shankar, Director of Brigade Hospitality Services Limited, won the ‘Woman CXO of the year' award at 9th Realty Plus Excellence Awards (SOUTH) 2017.

ADDITIONAL INFORMATION TO SHAREHOLDERS:

All important information such as financial results, investor presentations, press releases, new launches and project updates are made available on the Company's website www.BrigadeGroup.com on a regular basis.

DISCLOSURES:

There were no significant or material orders passed by the regulators or courts or tribunals impacting the going concern status and Company's operations in future.

There are no material changes and commitments affecting the financial position of the Company which have occurred between the end of the financial year till the date of this report.

There is no change in the nature of the business of the Company.

There are no differential voting rights shares issued by the Company.

Neither the Managing Director nor the Whole-time Director have received any remuneration or commission from any of the subsidiaries, joint ventures or associates.

There were no sweat equity shares issued by the Company.

ACKNOWLEDGEMENTS:

Your Directors would like to thank shareholders for reposing confidence and faith in the Company and its management. Your Directors would also like to take this opportunity to thank customers, employees, suppliers, contractors, bankers, business associates, partners and statutory authorities for their continuous support, co-operation, encouragement and patronage.

By order of the Board
For Brigade Enterprises Limited
Place: Bangalore M. R. Jaishankar
Date: May 16, 2018 Chairman and Managing Director

   

Adani Ports & Special Economic Zone Ltd     410.00   Down   -3.75 (-0.91%)   Asian Paints Ltd     1,765.70   Down   -37.40 (-2.07%)   Axis Bank Ltd     693.40   Up   3.35 (0.49%)   Bajaj Auto Ltd     3,023.70   Up   11.75 (0.39%)   Bajaj Finance Ltd     4,016.40   Up   136.95 (3.53%)   Bajaj Finserv Ltd     8,134.30   Up   98.45 (1.23%)   Bharat Petroleum Corporation Ltd     512.40   Up   22.10 (4.51%)   Bharti Airtel Ltd     385.25   Up   1.60 (0.42%)   Bharti Infratel Ltd     257.10   Up   0.15 (0.06%)   Britannia Industries Ltd     3,176.75   Down   -4.35 (-0.14%)   Cipla Ltd     446.80   Up   0.25 (0.06%)   Coal India Ltd     194.55   Up   3.40 (1.78%)   Dr Reddys Laboratories Ltd     2,701.45   Up   16.80 (0.63%)   Eicher Motors Ltd     19,220.60   Up   21.50 (0.11%)   GAIL (India) Ltd     126.80   Down   -1.30 (-1.01%)   Grasim Industries Ltd     730.85   Up   27.15 (3.86%)   HCL Technologies Ltd     1,100.90   Up   16.40 (1.51%)   HDFC Bank Ltd     1,221.10   Down   -1.95 (-0.16%)   Hero Honda Motors Ltd     2,602.35   Down   -73.35 (-2.74%)   Hindalco Industries Ltd     187.95   Down   -4.60 (-2.39%)   Hindustan Unilever Ltd     2,071.00   Up   6.60 (0.32%)   Housing Development Finance Corporation Ltd     2,048.70   Up   35.40 (1.76%)   ICICI Bank Ltd     435.30   Up   3.45 (0.80%)   Indian Oil Corporation Ltd     145.55   Down   -0.90 (-0.61%)   IndusInd Bank Ltd     1,274.50   Up   2.25 (0.18%)   Infosys Technologies Ltd     771.45   Up   3.15 (0.41%)   ITC Ltd     243.65   Down   -3.95 (-1.60%)   JSW Steel Ltd     220.30   Up   0.65 (0.30%)   Kotak Mahindra Bank Ltd     1,605.55   Down   -10.05 (-0.62%)   Larsen & Toubro Ltd     1,424.20   Down   -8.05 (-0.56%)   Mahindra & Mahindra Ltd     584.25   Up   0.85 (0.15%)   Maruti Suzuki India Ltd     6,975.00   Down   -10.75 (-0.15%)   Nestle India Ltd     14,351.50   Up   264.70 (1.88%)   NIFTY (S&P CNX)     11,464.00   Up   35.70 (0.31%)   NTPC Ltd     117.40   Down   -2.00 (-1.68%)   Oil & Natural Gas Corpn Ltd     141.65   Up   3.00 (2.16%)   Power Grid Corporation of India Ltd     198.55   Down   -2.70 (-1.34%)   Reliance Industries Ltd     1,372.35   Up   8.20 (0.60%)   State Bank of India     256.05   Down   -2.40 (-0.93%)   Sun Pharmaceuticals Industries Ltd     399.70   Up   2.90 (0.73%)   Tata Consultancy Services Ltd     2,046.40   Up   9.10 (0.45%)   Tata Motors Ltd     125.85   Down   -1.10 (-0.87%)   Tata Steel Ltd     347.40   Down   -1.80 (-0.52%)   Tech Mahindra Ltd     727.70   Up   7.20 (1.00%)   Titan Company Ltd     1,274.55   Up   2.45 (0.19%)   UltraTech Cement Ltd     4,285.30   Up   78.80 (1.87%)   UPL Ltd     588.75   Up   5.65 (0.97%)   Vedanta Ltd     149.90   Down   -3.60 (-2.35%)   Wipro Ltd     248.90   Up   5.25 (2.15%)   Yes Bank Ltd     41.05   Up   0.45 (1.11%)   Zee Entertainment Enterprises Ltd     259.65   Up   8.95 (3.57%)      NSE Data  -  www.nseindia.com (5 minutes delayed) syndicated by www.cmots.com

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