Analysts/Institutional Investor Meet/Con. Call Updates

Ref: BEL/NSE/BSE/ECT/02112026 November 2, 2026 Listing Department Department of Corporate Services – Listing National Stock Exchange of India Limited BSE Limited Exchange Plaza, P. J. Towers Bandra Kurla Complex Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 Re.: Scrip Symbol: BRIGADE/Scrip Code: 532929 Dear Sir/Madam, Sub: Transcript of Conference Call on the Company’s Financial & Operational Performance for Q2 FY 2026-27 held on October 30, 2026: We are enclosing herewith the transcript of the Conference Call on the financial and operational performance of the Company for Q2 FY 2026-27 held on Friday, October 30, 2026. Kindly take the same on your records. Thanking you, Yours faithfully, For Brigade Enterprises Limited P. Om Prakash Company Secretary & Compliance Officer Encl.: a/a “Brigade Enterprises Limited Q2 FY27 Earnings Conference Call” October 30, 2026 MANAGEMENT: MS. PAVITRA SHANKAR – MANAGING DIRECTOR – BRIGADE ENTERPRISES LIMITED MS. NIRUPA SHANKAR – JOINT MANAGING DIRECTOR – BRIGADE ENTERPRISES LIMITED MR. AMAR MYSORE – EXECUTIVE DIRECTOR – BRIGADE ENTERPRISES LIMITED MR. PRADYUMNA KRISHNA KUMAR – EXECUTIVE DIRECTOR – BRIGADE ENTERPRISES LIMITED MR. YOGESH PATEL – CHIEF FINANCIAL OFFICER – BRIGADE ENTERPRISES LIMITED E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on October 30, 2026 will prevail Page 1 of 15 Brigade Enterprises Limited October 30, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Brigade Enterprises Limited's Q2 FY27 Earnings Conference Call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Pavitra Shankar, Managing Director. Thank you, and over to you, Ms. Shankar. Pavitra Shankar: Thank you. Good afternoon, everyone, and thanks for joining us for Brigade Enterprises Q2 FY27 Earnings Call. I'm joined by our Joint Managing Director, Ms. Nirupa Shankar; and our Executive Directors, Mr. Amar Mysore and Mr. Pradyumna Krishna Kumar; and our CFO, Mr. Yogesh Patel. We will jump right in. In Real Estate, we launched 2.4 million square feet of residential projects in Q2 at an estimated GDV of approximately INR3,000 crores. Brigade Barcelona at Neopolis in Hyderabad had a good customer response with launch quarter sales of INR475 crores. Brigade Misty Greens in Mysuru was a launch that slipped into Q2, yet we have almost completely sold the available inventory. A small senior-friendly project, Azalea at Brigade Meadows in Bengaluru rounded out the quarter's launches. Net sales for the quarter were INR 1,827 Cr on a volume of 1.32 million square feet, 72% and 78% higher than Q1 value and area, respectively. While presales was 10% lower than Q2 FY26, this is mostly reflective of the launch timing this year and not of the demand on ground. Average realization stood at INR13,841 per square foot, a strong 29% year-on-year improvement, driven by disciplined pricing increases in our existing projects and a sustained shift in contribution of higher-end homes in our overall product mix. While the RBI raised repo rates by 25 bps after a long period of stable rates, this has not impacted customer sentiment on ground as the share of our customer taking home loans continues to hold steady. Two thirds of residential volume in the quarter came from sustenance sales in our ongoing projects with the balance from new launches. We have INR9,800 crores of inventory in addition to another 7 million square feet or INR7,600 crores Gross Developmental Value (GDV) of launches planned for the second half of the financial year. In Q3, we aim to launch two of our large township projects in Bengaluru, which both have significant contributions to the H2 sales achievements. For now, we reiterate the INR9,000 crores presales guidance. Page 2 of 15 Brigade Enterprises Limited October 30, 2026 Our commercial office portfolio continued to grow steadily. During Q2, we added 0.27 million square feet to our operational leasing portfolio with the completion of Brigade Square in Trivandrum, a 185,000 square feet project that's 100% pre-leased. We also completed Arcadia at Brigade Cornerstone Utopia in Bengaluru, taking our total operational leasing area to 9.6 million square feet at a portfolio occupancy of 90%. This quarter, we transacted close to 6 lakh square feet of commercial space, approximately 1 lakh square feet in sales, 1.5 lakh square feet in new leasing, 2.13 lakh square feet in churned space and 1.34 lakh square feet of investor space. Rental collections remained robust at 99% and office-only lease revenue stood at INR201 crores, 8% higher year-on-year. Our occupier base remains well diversified across GCCs, IT, ITES, BFSI, engineering, life sciences and flexible workspace operators. Occupier demand continues to reflect a flight to quality with GCCs accounting for 41% of Q2 office leasing and green certified tech parks capturing 61% of market absorption. In line with this, three of our assets, WTC Annexe, Brigade Twin Towers and Brigade Deccan Heights received IGBC Gold certification during the quarter. Lease-up of WTC Bengaluru and Brigade Twin Towers remain our priority for the coming quarters, and both projects have a healthy pipeline. Beyond our operating portfolio, we have 6.8 million square feet of commercial development under construction, including the World Trade Center and Orion Mall in Hyderabad with balance capital expenditure of approximately INR3,350 crores to complete this pipeline. We will continue to phase new supply in line with occupier demand. Turning to retail. Our Orion Mall portfolio delivered a steady quarter at 94% trading occupancy. Retailer sales across the portfolio grew 16% year-on-year, led by stronger electronics and restaurant sales, while mall footfall remained steady, supported by new store openings, festive activations, promotional events and major movie releases. We're also premiumizing the lower ground floor at Orion Gateway with bridge-to-luxury brands. Aureya FM Services, our in-house facility management company now manages 16 million square feet with a revenue of INR71 crores and EBITDA of 30% in this quarter. In Hospitality, BHVL delivered a strong Q2. Portfolio Average Room Revenue (ARR) grew 11% year-on-year to INR7,876 and RevPAR grew 10% year-on-year to INR5,922 at an occupancy of 75%. Bengaluru remains a key growth market with occupancy of 81% and RevPAR growth of 12%. BHVL's PAT more than doubled to INR22 crores from a year ago, aided by lower finance costs following the post-IPO debt repayment and improved operating performance. Growth has been rate-led with resilient domestic demand. Q2 was also a strong quarter for our ESG on both performance and recognition. We achieved a GRESB Real Estate ESG score of 93.7 with a 4-Star rating for FY26, reflecting our steady progress towards the sustainability goals. Brigade Citrine received the IGBC Net Zero Carbon (Design) certification with 76 credit points, extending our net zero approach from individual landmark project to how we design the wider portfolio. Page 3 of 15 Brigade Enterprises Limited October 30, 2026 Q2 marked the return of our launch cycle with sales launches and development potential all moving in the right direction. Our priorities for the second half are clear: deliver our planned launches on time, conv [Showing first 8,000 characters — download PDF for full document]