The Annual Report 2010-11 - Brigade Group

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Y E A R S A N D C O R P O R A T E O V E R V I E WThe Brigade Storyand international pool of professionalassociates and employ modernconstruction technology.An early entryBrigade Group’s founder—M.R. Jaishankar—belongs to a reputed family of coffeeplanters from the hill town of Chikmagalur,in the Western Ghats of Karnataka. Hisfamily is well known in the region for theirbusiness integrity and philanthropy.Jaishankar entered the field ofproperty development in 1984. These werethe pre-liberalisation, pre-IT days and,with admirable prescience, Jaishankarrecognised both the emerging potentialof the nascent, unorganised propertyand marketing teams and filling theorganisation with professionally qualifiedpeople. Brigade soon became one of themost respected names in the industry.Today, we have completed over 100buildings, aggregating over 20 millionsft—and in the process, we have createdseveral urban landmarks. This year, ina study conducted by The EconomicTimes and Great Place to Work Institute(a pioneer in studying and recognisingbest workplaces around the world),Brigade was chosen one of ‘India’s BestCompanies to Work for’, ranking second inthe Real Estate industry and one of the Top100 Companies in IndiaBrigade Towers, where it all began.We celebrate our Silver Anniversarythis year. A quarter century in propertydevelopment has seen us grow from ateam of five—operating out of a smallsite office on our first project—to a large,professionally managed organisationheadquartered in Bangalore, with branchoffices in several cities in South India anda representative office in Dubai. We workin a professional environment supportedby ERP, follow the best practices of HRmanagement, draw upon a nationalOur new corporate headquarters at World Trade Center Bangalore—a symbol of things to come.Brigade Hulkul Centre, Lavelle Rd, where weconsolidated and achieved phenomenal growth.development industry and the potential ofBangalore.Jaishankar established a partnershipfirm, Brigade Investments, in 1986, withthe idea of executing just one project:a 14 storey office building. This maidenventure—Brigade Towers—became thetallest building to be built by a privatedeveloper in Bangalore at the time.Planning for successWith a long-term vision of growing into aworld-class organisation, Brigade beganthe process of building its engineeringAs for the future…Our future plans envision the completion of40 projects, aggregating 31 million sft, in 7cities—across all our domains. Jaishankarsums up the direction we hope to travel inthe days to come: “We intend to continueto focus on innovation and maintain ourpresent momentum on all fronts. We alsointend to continue to use technologicallyadvanced tools and processes,continue to enhance our architectural,design, construction and developmentcapabilities.”
A continuing tradition of winning awards ...Best “Residential Property South” (Brigade Metropolis) in the CNBC AWAAZ CRISILCREDAI Real Estate Awards 2010: M. R. Jaishankar, CMD Brigade Group (extremeright) received the award from Kamal Nath—Union Cabinet Minister of UrbanDevelopment (center). Also seen: Goutam Datta, GM, Projects (extreme left).M. R. Jaishankar, CMD Brigade Group receives the Senior Builder Awardfrom P. C. Mohan, Member of Parliament.Brigade Group was chosen as one of INDIA’S BEST COMPANIES TOWORK FOR 2011. Awarded by The Economic Times and Great Placeto Work Institute. Brigade Group was ranked 2nd in the Real EstateIndustry and among the Top 100 Companies in India.R. Ashoka, Honourable Minister for Home and Transport, Karnataka, presenting theBest Commercial Developer of the Year 2010 award to M. R. Jaishankar, CMD, Brigade Group.Roshin Mathew, COO, Brigade Group, and Manjunath Prasad, VP, Brigade Gateway Project,are also seen.Other awards won byBrigade Group in the recent past:“India’s Top 10 Builder 2010”—Construction World”Best Developer in Residential Infrastructure 2010”—Construction Source IndiaWorld Trade Center Bangalore won the Best Commercial Project ofthe Year 2010: (l to r) Subesh Ray, JMD, Lemongrass Advisors;Manjunath Prasad and M. N. Balasubramanian of Brigade Group.”The Regional Developer of the Year—South“ 2010—Realty Plus
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ANNUAL REPORT2010-11
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Look Ahead and Plan for the FutureC
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B R I G A D E C O M M E R C I A L
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Notice“RESOLVED THAT the benefits
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Annexure to the Noticeobligation ar
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Directors’ ReportToThe Members,Yo
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Brigade Tetrarch Private Limited (B
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Annexure “I”Conservation of Ene
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delays in obtaining approvals, perm
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Corporate Governance ReportPhilosop
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Corporate Governance ReportThe term
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Corporate Governance Reporthave bee
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Corporate Governance Report16 Categ
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Standalone Financial Statements26FO
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Annexure to Auditors’ ReportAnnex
Page 32 and 33: Balance Sheet(Rupees in Lakhs)PARTI
Page 34 and 35: Cash Flow StatementPARTICULARSFor t
Page 36 and 37: Schedules forming part of Balance S
Page 42 and 43: Schedules forming part of Profit &
Page 45 and 46: iii.The present value of the obliga
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Page 49 and 50: 2.9. Assets given under Operating L
Page 51 and 52: The above includes the applicable s
Page 53 and 54: Statement pursuant to Section 212 o
Page 55 and 56: Auditors’ Reporton Consolidated F
Page 57 and 58: Consolidated Profit & Loss Account(
Page 59 and 60: PARTICULARSFor the year ended2010-2
Page 61 and 62: (Rupees in Lakhs)PARTICULARSAs at31
Page 63 and 64: (Rupees in Lakhs)PARTICULARSAs at31
Page 65 and 66: Consolidated Schedules forming part
Page 67 and 68: Schedule for Notes to Accounts for
Page 69 and 70: Depreciation is charged on a pro-ra
Page 71 and 72: obligation as a result of past even
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Page 77 and 78: BRIGADE ENTERPRISES LIMITEDRegd off
Page 79 and 80: B R I G A D E C O M M E R C I A L
Page 81: B R I G A D E C S RTHE BRIGADE SCHO
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The Annual Report 2010-11 - Brigade Group

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