Peninsula Land Limited · NSE:PENINLAND
Peninsula Land — FY2015 Earnings Presentation
45 slides from Peninsula Land's earnings presentation, 2015
Slide 1: Results Presentation FY 2015
Results Presentation FY 2015
Slide 2: Company overview
Company overview Focus on 3 cities Trusted Brand Fully Paid-for land Focus on Execution Mumbai, Pune and Strong existing clientele Bangaluru 17 Years Pioneer in Mumbai real estate market Of track record of First retail mall in the city real estate development First textile mill re-development projec
Slide 3: Milestones
Milestones JV with Brookfield, Canada for Real Estate fund management 2013 Completed Ashok Gardens at Parel 2011 Acquisition of projects in South Mumbai, Pune , Bengaluru and other 2014 Tier 2 cities 2012 2009 2010 Acquisition Raised Rs 525 Cr of NGE, Acquisition of Celestia through QIP Byculla spac
Slide 4: Developed marquee destinations in Mumbai
Developed marquee destinations in Mumbai Location : Lower Parel, South Central Mumbai Saleable Area : 1.3 mn sq ft (6.5 acres), comprising of two towers of 20 floors each Peninsula Occupants : Cipla, HDFC Group, Tata Capital, Tata AIG, Rabo Bank, Jones Lang Lasalle, Business Park DCB Sold one tower
Slide 5: Developed marquee destinations in Mumbai (contd…)
Developed marquee destinations in Mumbai (contd…) Location : Kurla off BKC Saleable Area : 0.9 mn sq ft (5.6 acres) of IT / ITES park Peninsula Techno Park Occupant : Sold to Essar Group for 1,275 Cr Location : Sewree, Central Mumbai Saleable Area : 0.9 mn sq ft (12 acres) comprising of two 23 store
Slide 6: Execution track record
Execution track record 5 (mn sq ft) 4.1 4 3 2 2.0 1 0.3 0 1997-2004 2005-2009 2010-2014 1997-2004 (0.3 mn sq ft) 2005-2009(2 mn sq ft) 2010-2014 (4.1 mn sq ft) Peninsula Centre Peninsula Corporate Park Peninsula Business Park Palm Beach Bayside Mall Peninsula Technopark Crossroads CR2 Center point K
Slide 7: Experienced Board of Directors
Experienced Board of Directors Leadership team Urvi Piramal Rajeev Piramal Mahesh Gupta Group Chairperson Vice Chairman & Managing Director Group Managing Director > 29 years experience of managing diverse Leads strategy for PLL ; actively oversees > 3 decades of experience in all facets of business
Slide 8: FY14-15 - Period of multiple initiatives to bear fruit FY16 onwards
FY14-15 - Period of multiple initiatives to bear fruit FY16 onwards FY14 Focused on improving execution through cluster approach Worked with Accenture to ensure cost sensitivity, schedule adherence and faster decision making Reorganized into a project based structure and empowered operational teams
Slide 9: Strategy in place for next level of Growth
Strategy in place for next level of Growth Consolidate presence in Mumbai, Bangalore and Pune Execution led strategy Cluster approach to ensure faster, better and efficient execution and delivery Sell better Partnered with IBM to improve processes and increase sales velocity through innovative and m
Slide 10: Robust pipeline and renewed geographic focus
Robust pipeline and renewed geographic focus Presence in Key urban Tier 1 & 2 Cities in Western & Southern India Completed Ongoing Pipeline No of Projects Area (mn sq ft) No of Projects Area (mn sq ft) No of Projects Area (mn sq ft) Mumbai 12 6.4 4 1.5 2 1.2 Pune 1 0.5 2 12.3 Bengaluru 1 0.6 1 0.6 A
Slide 11: Project Status of Ongoing Projects
Project Status of Ongoing Projects Planned Date of completion Bishopsgate, Mumbai 18% 86 Q4 FY 17 Celestia Spaces (PLL Share), Mumbai 9% 479 Q4 FY19 Carmichael Residences, Mumbai 0% 136 Q4 FY 18 Ashok Meadows (Phase 1), Pune 40% 498 Q4 FY 16 Ashok Heights, Bengaluru 14% 618 Q2 FY 18 Ashok Astoria, N
Slide 12: Business Updates
Business Updates [=]
Slide 13: Business Updates in FY 15 vs FY 14
Business Updates in FY 15 vs F 14 New Sales Bookings / Collections Sold 417,705 sq ft during FY15 as against 235,650 sq ft during FY 14 Recorded new sales value of Rs. 810 Cr during FY15, as against Rs 288 Cr during FY 14 Collections were at Rs. 324 Cr for FY 15, as against Rs. 185 Cr during FY 14 N
Slide 14: Business Updates in Q4 FY 15
Business Updates in Q4 FY 15 New Sales Bookings / Collections Sold 118,529 Sq ft during Q4 FY15 as against 79,071 sq ft during Q4 FY 14 Recorded new sales value of Rs. 291 Cr during Q4 FY15, as against Rs.101 Cr during Q4 FY 14 Collections were at Rs. 75 Cr for Q4 FY 15, as against Rs. 56 Cr during
Slide 15: Projects Overview
Projects Overview [=]
Slide 16: Summary of Ongoing projects and inventory - FY 2015
Summary of Ongoing projects and inventory - FY 2015 Up to last Quarter Q4 Total PLL Avg. No. Avg. No. Avg. Collection Projects Share No. Area Sales Area Sales Area Sales (Rs. Crs) Reali- of Reali- of Reali- (%) of Sold Value Sold Value Sold Value in Q4 zation units zation units zation units sq ft Rs
Slide 17: Summary of Ongoing projects – till Mar '15 (cumulative)
Summary of Ongoing projects – till Mar ‘15 (cumulative) Saleable Area Sold Average PLL Share Sales Value Collections Projects Area (sq ft Location (sq ft in Realization (%) (Rs. Cr) (Rs. Cr) in 000’s) 000’s) (Rs. / sq ft) Residential-Ongoing Bishops Gate 86 Mumbai 50% 62 467 74,960 161 Celestia Spac
Slide 18: Unrecognized revenue from ongoing projects
Unrecognized revenue from ongoing projects Balance Balance Sale Revenue Revenue Area Work Revenue Value of % of Sales to be PLL to be Project Sold Completion Recognized Area Sold Complete Recognized Share Recognized (sq ft ‘000s) (Rs. Cr) (Rs. Cr) on sale portion PLL Share (Rs. Cr) (Rs. Cr) Bishopsg
Slide 19: Project pipeline
Project pipeline Saleable Area Development Land cost* Projects Location PLL Share (%) JV Partner (sq ft In ‘000s) Model (Rs. Cr) PMC of 8% + Celestia Spaces, Sewree Phase 2 1,200 Mumbai JV - Bhattads JV of 18% Peninsula Realty NapeanSea Road 49 Mumbai JV 78% 124 Fund Mahadeopura 631 Bengaluru Owned
Slide 20: Annuity income and completed inventory
Annuity income and completed inventory Annuity Income Project Type Area (sqft) Rentals (Rs. Cr) Q1 Q2 Q3 Q4 Piramal Chambers 91,000 4 4 4 6 Piramal Chambers 39,000 2 2 2 4 Peninsula Business Park* 30,000 1 1 1 - Total 160,000 7 7 7 10 *Leased out portion of Peninsula Business Park to Rabobank, has b
Slide 21: Bishopsgate
Bishopsgate PLL Saleable Area Location Share JV Partner (000’s sq ft.) Mumbai 50% KBK Group 86 Nos. Area Sales Avg. Construction % Sales Collection Of units Sold Value Realization Milestone Completion (Rs. Cr) (‘000 sq ft ) (Rs.Cr) (Rs./sqft) Till Q1, FY 15 11% 55% Q1, FY 15 0 - - - - Till Q2, FY 15
Slide 22: Bishopsgate-Current status
Bishopsgate-Current status March 2014 CURRENT STATUS 22
Slide 23: Celestia Spaces (PLL Share)
Celestia Spaces (PLL Share) Saleable PLL Area Location Share JV Partner (000’s sq ft.) Mumbai 100% - 479 Nos. Area Avg. Sales Construction % Sales of Sold Reali- Collection Value Milestone Completion units (‘000 zation (Rs. Cr) (Rs.Cr) sq ft ) (Rs./sqft) Till Q1, FY 15 3% 15% Q1, FY 15 8 13 29 22,35
Slide 24: Celestia Spaces-Current Status
Celestia Spaces-Current Status March 2014 CURRENT STATUS 24
Slide 25: Carmichael Residences
Carmichael Residences PLL Saleable Area Location Share JV Partner (000’s sq ft.) Mumbai 40% KBK Group 136 Nos. Sales Avg. Area Sold Collection Construction % Sales of units Value Realization (‘000 sq ft ) (Rs. Cr) Milestone Completion (Rs.Cr) (Rs./sqft) Q1, FY 15 - - - - - Till Q1, FY 15 - - Q2, FY
Slide 26: Carmichael Residences-Current Status
Carmichael Residences-Current Status March 2014 CURRENT STATUS 26
Slide 27: New Great Eastern, Byculla
New Great Eastern, Byculla PLL Saleable Area Location Share JV Partner (000’s sq ft.) Byculla, 57% PREI Fund 776 Mumbai Nos. Sales Avg. Area Sold Collection Construction % Sales of units Value Realization (‘000 sq ft ) (Rs. Cr) Milestone Completion (Rs.Cr) (Rs./sqft) Q1, FY 15 - - - - - Till Q1, FY
Slide 28: Ashok Meadows (Phase 1)
Ashok Meadows (Phase 1) PLL Saleable Area Location Share JV Partner (000’s sq ft.) Hinjewadi, Peninsula Realty 55% 498 Pune Fund & Clover Nos. Sales Avg. Area Sold Collection Construction % Sales of units Value Realization (‘000 sq ft ) (Rs. Cr) Milestone Completion (Rs.Cr) (Rs./sqft) Q1, FY 15 28 3
Slide 29: Ashok Meadows (Phase 1)-Current Status
Ashok Meadows (Phase 1)-Current Status March 2014 CURRENT STATUS 29
Slide 30: Ashok Heights, JP Nagar
Ashok Heights, JP Nagar PLL Saleable Area Location Share JV Partner (000’s sq ft.) Peninsula Bengaluru 80% 618 Realty Fund Nos. Sales Avg. Construction % Sales Area Sold Collection of units Value Realization Milestone Completion (‘000 sq ft ) (Rs. Cr) (Rs.Cr) (Rs./sqft) Q1, FY 15 - - - - - Till Q1,
Slide 31: Ashok Heights, JP Nagar-Current Status
Ashok Heights, JP Nagar-Current Status March 2014 CURRENT STATUS 31
Slide 32: Ashok Astoria
Ashok Astoria PLL Saleable Area Location Share JV Partner (000’s sq ft.) Nashik 100% - 589 Nos. Sales Avg. Area Sold Collection of units Value Realization Construction % Sales (‘000 sq ft ) (Rs. Cr) (Rs.Cr) (Rs./sqft) Milestone Completion Q1, FY 15 7 9 4 4,284 4 Q2, FY 15 4 7 3 4,442 3 Till Q1, FY 1
Slide 33: Ashok Astoria-Current Status
Ashok Astoria-Current Status CURRENT STATUS Plaster & LMR work in progress Building 2A Building 2B Building 2C Row Houses & Town Homes Amenity-1, work in progress Club House 33
Slide 34: Ashok Nirvaan
Ashok Nirvaan PLL Saleable Area Location Share JV Partner (000’s sq ft.) Peninsula Lonavala 25% 352 Realty Fund Nos. Sales Avg. Area Sold Collection Construction % Sales of units Value Realization (‘000 sq ft ) (Rs. Cr) Milestone Completion (Rs.Cr) (Rs./sqft) Q1, FY 15 - - - - 1 Till Q1, FY 15 18% 3
Slide 35: Ashok Nirvaan-Current Status
Ashok Nirvaan-Current Status CURRENT STATUS Villa No-45 Villa No-36 Villa No-51 Villa No-29 Villa No-41 Villa No-7 35
Slide 36: Ashok Beleza
Ashok Beleza PLL Saleable Area Location Share JV Partner (000’s sq ft.) Peninsula Goa 58% 247 Realty Fund Nos. Sales Avg. Construction % Sales Area Sold Collection of units Value Realization Milestone Completion (‘000 sq ft ) (Rs. Cr) (Rs.Cr) (Rs./sqft) Q1, FY 15 3 5 3 5,901 2 Till Q1, FY 15 39% 20%
Slide 37: Ashok Beleza-Current Status
Ashok Beleza-Current Status CURRENT STATUS Sales office and Show Villa C 7/8, at Finishing Stage C 21-22, Hardscape work in progress B 4/5/6, Finishing stage Club House in progress C 1, Sloping slab in progress 37
Slide 38: Financials Overview
Financials Overview [=]
Slide 39: Key financial snapshot (standalone)
Key financial snapshot (standalone) For the year For the year Particulars (Rs. Cr) ended ended 31.03.15 31.03.14 Income Statement Income from Operations 161 271 Profit before interest & Tax 112 149 PBT (19) 50 Tax Provision (12) 1 PAT (6) 49 Balance Sheet Net worth 1,506 1,532 Debt 1,753 1,290 Debt:
Slide 40: Profit and Loss (standalone)
Profit and Loss (standalone) P&L Snapshot (Rs. Cr) FY2015 FY2014 Income Total Income from operations (Gross) 161 271 Other Income 133 102 Total Revenue 294 373 Expenses a) Cost of Realty Sales 80 114 b) Employee Benefit expenses 50 55 c) Depreciation 8 6 d) Other Expenses 43 49 Total (a+b+c+d) 182 2
Slide 41: Balance Sheet (standalone)
Balance Sheet (standalone) Balance Sheet (Rs. Cr) 31st March, 2015 31st March, 2014 Equity and Liabilities Shareholders’ Funds Share Capital 56 56 Reserves & Surplus 1,450 1,476 Total (Shareholders Funds) 1,506 1,532 Borrowings Non Current Debt 1121 751 Current Debt 632 539 Total (Borrowings) 1,753
Slide 42: Balance Sheet (standalone) (contd…)
Balance Sheet (standalone) (contd…) Balance Sheet (Rs. Cr) 31st March, 2015 31st March, 2014 Assets Fixed Assets 56 53 Non-Current Investments 693 271 Loans and Advances 1,297 1,242 Current Assets Inventories 998 897 Trade Receivables 115 253 Cash & Cash Equivalents 248 222 Other current assets 219
Slide 43: Debt profile
Debt profile Particulars (Rs. Cr) Year ended 31.03.15 Year ended 31.03.14 Standalone Total Debt 1,753 1,290 Less: Cash & Cash equivalents 248 222 Net Debt 1,505 1,068 Net Worth 1,506 1,532 Debt Equity – Gross Borrowing (x) 1.16 0.84 Debt Equity – Net Borrowing (x) 1.00 0.70 Consolidated Total Debt (
Slide 44: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: • This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any secur
Slide 45: Thank You
[=] PENINSULA LAND CREATING INTERNATIONAL LANDMARKS Thank You ASHOK PIRAMAL GROUP