INVESTOR PRESENTATION - PDF document

INVESTOR PRESENTATION Q3 FY2014 - 15 www.prestigeconstructions.com 1 Index HIGHLIGHTS OF Q3 FY 2014 - 15 OPERATIONAL & FINANCIAL PERFORMANCE SALES SUMMARY RENTAL PORTFOLIO & LEASING UPDATE DEBT PROFILE RECEIVABLES PROFILE ABOUT PRESTIGE PROJECT PORTFOLIO & UPDATE 2 HIGHLIGHTS OF Q3 FY 2014 - 15 www.prestigeconstructions.com 3 Guidance Vs Achieved FY14 - 15 4 Highlights of QIII FY 2014 - 15 5 Operational Highlights In Rs.Mn 6 Operational Highlights Highlights of QIII FY 2014 - 15 For the Quarter ended 31 December 2014 ( Q3): New Sales: The Company has sold 611 Residential units and 0 . 21 million square feet of commercial space, aggregating to 1 . 55 million square feet amounting to Rs . 10 , 094 million of sales . (Of this, Prestige share is : 532 units - 1 . 13 million square feet amounting to Rs . 7 , 594 Million of sales . ) During the corresponding Q 3 of previous year FY 13 - 14 , the company had sold 1 , 204 Residential units and 0 . 03 million square feet of commercial space, aggregating to 2 . 08 million square feet amounting to Rs . 12 , 620 million of sales . (Prestige share of sales for Q 3 FY 13 - 14 were 904 units - 1 . 55 million square feet amounting to Rs . 9 , 402 Million of sales . ) Collections: Total collections for the quarter aggregated to Rs . 9,209 million. (Prestige share of collections for the quarter aggregated to Rs . 7,561 million.) Total collections for Q3 FY 13 - 14 were Rs . 7,133 million and Prestige share of collections were Rs . 5,923 million. 7 Operational Highlights Highlights of QIII FY 2014 - 15 For the nine months ended 31 December 2014 (9M): Sales: The Company has for the nine months ended December 2014 sold 3 , 263 Residential units & 0 . 46 million square feet of Commercial space, totalling to 6 . 27 million square feet, amounting to Rs . 39 , 026 million of Sales . (Prestige share is 2 , 986 units totalling to 5 . 36 million square feet amounting to Rs . 33 , 560 million of Sales . ) Collections : Total collections for the nine months ended 31 st December 2014 aggregated to Rs . 27 , 688 million . (Prestige share is Rs . 23 , 269 million) Total collections for 9 M FY 13 - 14 were Rs . 21 , 618 million and Prestige share of collections were Rs . 18 , 195 million . 8 Operational Highlights Highlights of QIII FY 2014 - 15 10% 11% 0 2000 4000 6000 8000 10000 12000 14000 16000 Q3 FY14 Q4 FY14 Q1 FY 15 Q2 FY15 Q3 FY15 12620 8788 14073 14859 10094 9402 6007 13073 12893 7594 Sales (QOQ) (Rs. Mn) Total Sales Prestige Estates Sales 0 2000 4000 6000 8000 10000 12000 14000 Q3 FY 14 Q3 FY 15 12620 10094 9402 7594 Sales Q3 FY14 & Q3 FY15 (Rs.Mn) Total Sales Prestige Estates Sales 0 5000 10000 15000 20000 25000 30000 35000 40000 9M FY14 9M FY15 35560 39026 30316 33560 Sales 9M - O - 9M (Rs.Mn) Total Sales Prestige Estates Sales 0 5000 10000 15000 20000 25000 9M FY14 9M FY15 18195 23269 Collections 9M - O - 9M ( Rs . Mn ) 9 Operational Highlights Highlights of QIII FY 2014 - 15 Collections - Prestige Estates Share 28% 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 Q3 FY14 Q4 FY 14 Q1 FY15 Q2 FY15 Q3 FY15 5923 6557 7607 8101 7561 Collections (Q - O - Q) (Rs. Mn) 0 2000 4000 6000 8000 Q3 FY14 Q3 FY15 5923 7561 Collection Q3 FY14 & Q3 FY15 (Rs.Mn) 28% 10 Financial Highlights In Rs.Mn Highlights of QIII FY 2014 - 15 11 Highlights of QIII FY 2014 - 15 Financial Highlights For the Quarter ended 31 December 2014 Revenue at Rs . 6 , 453 Mn , considering revenue from operations and other income, up by 40 % as compared to the revenue for the corresponding quarter of previous year (Q 3 FY 14 ) which stood at Rs . 4 , 600 Mn . EBIDTA at Rs . 2 , 241 Mn , up by 39 % as compared to the EBIDTA for the corresponding quarter of previous year (Q 3 FY 14 ) which stood at Rs . 1 , 614 Mn PAT at Rs . 995 Mn , up by 23 % as compared to the PAT for the corresponding quarter of previous year (Q 3 FY 14 ) which stood at Rs . 807 Mn 12 Highlights of QIII FY 2014 - 15 Financial Highlights For the Nine months ended 31 December 2014 Revenue at Rs . 18 , 304 Mn , considering revenue from operations and other income, up by 23 % as compared to the revenue for the corresponding 9 months of previous year ( 9 M FY 14 ) which stood at Rs . 14 , 933 Mn . EBIDTA at Rs . 6 , 097 Mn , up by 30 % as compared to the EBIDTA for the corresponding 9 months of previous year ( 9 M FY 14 ) which stood at Rs . 4 , 689 Mn PAT at Rs . 3 , 004 Mn , up by 23 % as compared to the PAT for the corresponding 9 months of previous year ( 9 M FY 14 ) which stood at Rs . 2 , 448 Mn 13 Financial Highlights Highlights of QIII FY 2014 - 15 0 1000 2000 3000 4000 5000 6000 7000 Q3 FY14 Q4 FY 14 Q1 FY15 Q2 FY15 Q3 FY15 4600 6591 6156 5843 6453 1614 1810 1895 1961 2241 807 951 1041 968 995 Turnover, EBIDTA & PAT (Rs. Mn) Turnover EBIDTA PAT 0 5000 10000 15000 20000 9M FY14 9M FY15 14933 18304 4689 6097 2448 3004 Turnover, EBIDTA & PAT (Rs. Mn) 9M - O - 9M Turnover EBIDTA PAT Business Performance Launches/Pre Launches during Q1, Q2 & Q3 FY 14 - 15 14 Highlights of QIII FY 2014 - 15 15 Highlights of QIII FY 2014 - 15 Completions during Q1, Q2 & Q3 FY 14 - 15 16 Area Leased during Q3 FY 2014 - 15 Business Performance Highlights of QIII FY 2014 - 15 FINANCIALS UPDATE 17 Financials Balance Sheet as a t 31 December 2014 18 Rs. Mn Financials Profit & Loss Account for t he period ended 31 December 2014 19 Rs. Mn Key Ratios 20 Rs. Mn Financials Key Ratios 21 Rs. Mn Financials SALES SUMMARY www.prestigeconstructions.com 22 Sales Summary 23 Area in Mnsf Rs. Mn Prestige Estates Share Note : 1) Substantial portion of above sales are yet to come for revenue recognition in the books of accounts since the projects have not reached the threshold limits of 25 % completion (excluding land) 2 )Overall unrecognized revenue in the books of accounts from all the projects as on 31 / 12 / 2014 (Sales made and yet to come for recognition) based on POC is approximately Rs . 83 , 776 million . 3 ) The above sales value and realization are excluding Stamp duty, Registration fee and Taxes . (These exclusions approximately aggregate to around 15 % of the sales value) . Unrecognized Revenue From Projects Under Construction 24 Rs. Mn Unrecognized Revenue From Projects Under Construction 25 Rs. Mn 26 Project Debtors Summary Rs. Mn 27 Project Debtors Summary Rs. Mn Debt Profile 28 Rs. Mn Note : There is an increase of Rs 14 , 537 Mn in the secured loan amount due to consolidation of the subsidiary companies . However, we should note that since consolidation is done based on line by line basis as per Accounting Standard 21 , 100 % of the loan amounts in subsidiaries are added up to standalone loan outstanding . If we consider only proportionate PEPL holding in the subsidiaries the net loan balance will amount to Rs 11 , 478 Mn as against Rs . 14 , 537 Mn , resulting in the overall net debt of Rs 27 , 104 mn ( Rs 20 , 622 + Rs 11 , 478 – Rs . 4 , 997 ) on a consolidated basis resulting in an effective D/E Ratio of 0 . 65 ( Rs . 27 , 104 / Rs . 41 , 626 ) . Receivables Profile 29 Area in Mnsf Rs. Mn Net Cash Flows of Ongoing Projects 79,459 = (A+B - C) Rental Income 30 Area in Mnsf Rs. Mn Annualised Projected Exit Rentals for Area Leased 31 Area in Mnsf Rs. Mn PROJECT PORTFOLIO & UPDATE www.prestigeconstructions.com 32 Business Segments Retail Commercial Hospitality Services Residential Our Business Apartments Villas Townships Plotted Developments Office Space Built to suit Campuses SEZs IT Parks Malls Sub leasing & fit out services Project & Construction Mgmt Services Interior Design & Execution Facilities & Property Mgmt Resorts Serviced Apartments Hotels Food Courts 33 Product Mix – Segment Wise Ongoing Projects Upcoming Projects Total Area – 59.24 Mnsf Total Area – 44.11 Mnsf 34 83% 10% 5% 2% Residential Commercial Retail Hospitality 78% 16% 5% 1% Residential Commercial Retail Hospitality Product Mix – Geography Wise Ongoing Projects Upcoming Projects Total Area – 59.24 Mnsf Total Area – 44.11 Mnsf 35 85% 10% 3% 1% 1% Bengaluru Chennai Cochin Hyderabad Mangaluru Mysure 76% 2% 3% 16% 3% Bengaluru Chennai Cochin Hyderabad Mangaluru Ooty Ongoing Projects Residential 36 Ongoing Projects Residential 37 Commercial 38 Ongoing Projects Hospitality Retail 39 Ongoing Projects Upcoming Projects Residential 40 Upcoming Projects Residential 41 Commercial Upcoming Projects 42 Upcoming Projects 43 Retail Hospitality www.prestigeconstructions.com Land Bank & Projects Under Planning 44 ABOUT PRESTIGE www.prestigeconstructions.com 45  Legacy Spanning over 28 years  One of South India’s Leading Developers  184 completed projects spanning across 60.74 Mnsf of Developed Area  57 Ongoing Projects spanning Over 59.24 Mnsf of Area One of the Most Trusted Developers by Land Owners and Customers Only CRISIL DA1 * rated Developer in India Stable Cash Flows by way of Annuity Income & Diversified Cash Flows from Various Segments Excellence across all Real Estate Classes, i.e. Residential, Commercial, Retail & Hospitality Strong Joint Venture partners like CapitaLand, RedFort , etc & Strong Associations with Various Banks & FIs Iconic developments like Forum Mall, Prestige Shantiniketan, UB City, Prestige Golfshire etc Spearheaded by Real Estate Icon, Mr. Irfan Razack & his brothers Mr. Rezwan and Mr.Noaman Razack ADVANTAGE PRESTIGE Awarded with financial rating of A - by ICRA 46 47 Karnataka • Bengaluru • Mysure • Mangaluru Tamil Nadu • Chennai • Ooty Kerala • Cochin Telangana • Hyderabad Goa Strong Presence Across South Indian States Goa Karnataka Kerala Tamil Nadu Telangana Irfan Razack Chairman & Managing Director Rezwan Razack Joint Managing Director Noaman Razack Wholetime Director Jagdeesh K. Reddy Independent Director B.G. Koshy Independent Director Noor Ahmed Jaffer Independent Director Dr. Pangal Ranganath Nayak Independent Director 48 Board of Directors Uzma Irfan Additional Director Executive Management Faiz Rezwan Executive Director Contracts & Projects Sana Rezwan Executive Director Retail Zackria Hashim Executive Director Land Acquisition Zaid Sadiq Executive Director Liasioning & Hospitality Venkat K Narayan Executive Director Finance & CFO Arvind Pai Executive Director Legal V. Gopal Executive Director Projects & Planning Nayeem Noor Executive Director Public Relations Asha Vasan Executive Director Commercial Sales & Collections 49 www.prestigeconstructions.com Shareholding Pattern 50 As on 31 December 2014 Promoters 70% FIIs 22% Mutual Funds 6% Retail 2% AWARDS & RECOGNITION www.prestigeconstructions.com 51 Awards & Recognition 52 Realty Plus Awards - Commercial Property of the year - Prestige Khoday Towers Realty Plus Awards - Residential Property of the year - Prestige White Meadows Realty Plus Awards - Retail Property of the year - Forum Sujana Mall Awards & Recognition 53 Realty Plus Awards - Scrol of Honor to Mr. Irfan Razack, CMD CNBC Awards - Best Retail project of Chennai - Forum Vijaya Mall CNBC Awards - Builder of the year - Prestige Group PROJECT SNAPSHOT A Virtual Tour www.prestigeconstructions.com 54 55 Project Snapshots – Completions during the quarter Prestige Silver Oak 56 Project Snapshots – Residential Projects Prestige Ferns Residency Prestige Park View Prestige Casabella Prestige Bella Vista Current Construction Progress 57 Project Snapshots – Residential Projects Prestige White Meadows Prestige Lakeside Habitat Prestige Garden Bay Prestige Edwardian Current Construction Progress 58 Project Snapshots – Residential Projects Prestige Glenwood Prestige Mayberry Current Construction Progress Prestige Downtown Prestige Sunny Side 59 Project Snapshots – Residential Projects Prestige Hermitage Kingfisher Towers Current Construction Progress 60 Project Snapshots – Commercial Projects Prestige Tech Platina Current Construction Progress Prestige Trinity Centre Prestige Falcon Tower www.prestigeconstructions.com Disclaimer This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company . It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements . The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, economic growth in India, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, government policies and actions with respect to investments, fiscal deficits, regulation etc . , interest and other fiscal cost generally prevailing in the economy . The company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time on behalf of the company . 61 Prestige Estates Projects Limited The Falcon House, No. 1, Main Guard Cross Road, Bangalore – 560 001 Phone: +91 - 80 – 25591080 Fax: + 91 – 80 - 25591945 Mr. Venkat K. Narayana Executive Director & CFO Phone : +91 - 80 – 25001280 E - mail: investors@prestigeconstructions.com Thank You www.prestigeconstructions.com 62