Sobha Limited · NSE:SOBHA
Sobha — Sobha Developers — Q4 FY2011 Earnings Presentation
29 slides from Sobha's earnings presentation, 2011
Slide 1: Quality is the Sum of All Details
QUALITY IS THE SUM OF ALL DETAILS Chrysanthemum-Bangalore Emerald- Coimbatore Ruby Platinum - Bangalore Althea - Bangalore
Slide 2: Performance Highlights FY 10-11
Performance Highlights FY 10-11 Sobha, the first Real Estate company in South India to register over Rs.1000 crs new sales in Residential Space. Achieved Rs.1,464 crs top line -Our best ever performance. Achieved Profit before Tax Rs.244 crs, Up by 52% compared to corresponding period of the l
Slide 3: Performance Highlights FY 10-11 (Contd.)
Performance Highlights FY 10-11 (Conti…) Sold 2.78 mn.sft of space during the FY 2010-11. Average realization improved to Rs.4,082 /sq.ft due to improved product mix and higher realization. Launched 4.30 mn.sft during the year 10-11 of 11 projects. Prepared ground work for launch of 11 mn.sft
Slide 4: Performance Highlights
Performance Highlights Particulars UOM FY 10-11 FY 09-10 FY 08-09 FY 07-08 Revenue Rs.Mns 14,643 11,193 9,917 14,363 EBITDA Rs.Mns 3,143 2,425 2,868 3,674 PBT Rs.Mns 2,436 1,603 1,455 2,709 PAT Rs.Mns 1,825 1,367 1,097 2,283 Net worth Rs.Mns 18,566 17,085 10,895 9,883 Debt (Net) Rs.Mns 11,834 13,740
Slide 5: Financial Snapshot: Revenue, EBITDA & PAT
Financial Snapshot REVENUE, EBITDA & PAT Rs.in Millions 16,000 14,363 14,643 % growth PARTICULARS FY 10-11 FY 09-10 14,000 (Y-Y) 11,193 12,000 9,917 Real Estate 10,464 8,092 29% Value (Rs.Mns) Income 10,000 Contractual 8,000 4,097 3,048 34% Income 6,000 3,674 EBIDTA 3,143 2,425 30% 2,867 3,143 4,000
Slide 6: Financial Snapshot: Equity, Reserve, Debt, D/E Ratio
Financial Snapshot Equity, Reserve, Debt D/E Ratio 20,000 18,911 17,505 17,585 2.00 1.77 1.74 18,000 16,104 16,000 1.60 13,740 14,000 1.20 11,834 0.80 Value (Rs.Mns) 12,000 10,166 0.64 9,154 0.80 10,000 0.40 8,000 6,000 - 2007-08 2008-09 2009-10 2010-11 4,000 729 981 981 729 2,000 As on 31st March-1
Slide 7: Unparallel Execution Strength
Unparallel Execution Strength Real Estate Completed Ongoing ¾ Completed Projects: 90 18.41 80 71 projects aggregating to 18.41 mn.sqft in Real Estate and 70 14.29 191 projects aggregating to 24.27 mn.sqft in Contracts. 60 50 Totaling 262 projects measuring 42.68 mn.sqft. 40 9.08 6.99 30 71 60 20
Slide 8: Real Estate – A Strong Foundation
Real Estate – A Strong Foundation Highlights – Real Estate Gurgaon • Completed & handed over 6 projects aggregating 1.91 mn.sft in Q4-11 and 11 projects aggregating 4.12 mn.sft in FY 10-11 • Sold during the quarter : 656,222 sft and Cumulative Pune sales of 2,776,814 sft Real Estate Presence Bangalo
Slide 9: Contracts - Snapshot
Contracts - Snapshot Highlights – Contracts First time during H2-11, Sobha • Completed & handed over 12 projects aggregating 0.84 mn.sft during bagged Contractual orders valued Q4-11 and 25 projects aggregating 2.20 mn.sft during FY 10-11. about Rs.132 crs other than Infosys. • Added new clients in
Slide 10: Delivery Capabilities – Real Estate
Delivery Capabilities – Real Estate Projects Completed & Handed over 13.94 14.00 12.00 Area Completed (Mn.sft) 10.00 8.44 8.00 6.32 5.58 6.00 3.87 4.53 4.00 2.00 - 1995-2006 2006-07 2007-08 2008-09 2009-10 2010-11 • Sobha has completed and handed over 13.94 mn.sft, over a period of 11 years till 200
Slide 11: Projects Completed & Handed Over in FY10-11
Projects Completed & Handed Over in FY10-11 Actual Projects Completed & Handed over for FY 10-11 Real Estate Contracts Total Period No of SBA No of SBA No of SBA projects (Mn.sft) projects (Mn.sft) projects (Mn.sft) Q4-11 6 1.91 12 0.84 18 2.75 Q3-11 4 2.11 6 0.43 10 2.54 Q2-11 1 0.10 3 0.65 4 0.75
Slide 12: Sales Performance
Sales Performance Over Rs.1000crs Real Estate sales during the financial year 2011 Q4 10-11 : Q3 10-11 : Q2 10-11 : Q1 10-11 : FY 10-11 : FY 09-10 : % Locations Area sold Area sold Area sold Area sold Area Sold Area Sold Growth (Sft) (Sft) (Sft) (Sft) (Sft) (Sft) Bangalore 542,707 564,075 524,285 48
Slide 13: Real Estate – Future Launches
Real Estate – Future Launches Proposed launches in next few quarters ≈ SBA Sl.No Location Projects Type Status (Mn.sft) Existing Locations 1 Bangalore Sobha Signature Presidential Apartments 0.22 Plan sanctioned 2 Bangalore Sobha City Mixed used Residential 2.93 Expected approval by June-11 3 Bangal
Slide 14: Contractual Projects – An Overview
Contractual Projects – An Overview Contractual Projects status as on 31st Mar-11 ONGOING PROJECTS FORTHCOMING PROJECTS S.NO DESCRIPTION No of No of SBA (Sft ) SBA (Sft) Projects Projects 1 Mysore 3 1,615,381 3 476,051 2 Chennai 7 1,386,745 1 294,350 3 Hyderabad 7 1,355,346 1 294,350 4 Pune 3 1,182,3
Slide 15: Positive Operational Cash flow
Positive Operational Cash flow Real Estate Project Cash flow status as on 31st Mar-11 Ongoing Completed Description Projects Projects Total Super Built-up area 6.99 6.78 Mn.sft Sobha share of Saleable area 5.98 6.57 Mn.sft Total area sold till 31st March-11 3.21 6.30 Mn.sft Unsold area 2.77 0.27 Mn.
Slide 16: Balance Sheet
Balance Sheet Rs.in Millions st PARTICULARS 31 Mar-11 31st Mar-10 SOURCES OF FUNDS Shareholders' funds Share capital 981 981 Reserves and surplus 17,585 16,104 Loan funds Secured loans 12,026 14,466 Unsecured loans 84 74 12,110 14,540 30,676 31,625 APPLICATION OF FUNDS Fixed assets Net block 1,373 1
Slide 17: Profit and Loss Statement
Profit and Loss Statement Rs.in Millions % of Growth Particulars Q4-11 Q4-10 FY 10-11 FY 09-10 Q4-11 on FY 11 on Q4-10 FY-10 Property Development Incl. 2,156 3,060 10,464 8,092 (30%) 29% Sobha city Contractual + Manufacturing 1,288 948 4,097 3,048 36% 34% Other Income 47 23 82 53 102% 55% Total Reve
Slide 18: Land Bank – Development Potential
Land Bank – Development Potential GURGAON (172.77 Acres) CHENNAI (516.12 acres) Developable Area 5.84 Developable Area 37.38 Sobha Share 37.33 Sobha Share 4.34 BANGALORE (931.80 acres) Developable Area 89.68 Sobha Share 85.59 HOSUR (484.76 acres) PUNE (136.44 acres) Developable Area 34.84 Developabl
Slide 19: Sobha – Shareholding Pattern
Sobha – Shareholding Pattern • Promoters Holding : 60.50 % FII's • FII’s : 30.21 % 30.21% • Mutual Fund : 4.04 % • Others : 5.25 % Promoters 60.50% Mutual Funds 4.04% Others 5.25% 31st Mar-11 31st Dec-10 30th Sept-10 30th June 10 31st Mar 10 Promoters Holding 60.50% 60.50% 60.50% 60.50% 60.50% FII’s
Slide 20: Sobha – Stock Performance
Sobha – Stock Performance Status as on: 31st Mar- 11 No. of Shares 98.06 mns Market Capitalization Rs. 28.78 bn Stock Price : 52 week High / Low Rs.394 / Rs.199 Avg. Daily volume (12 months) 283,781 Shares Source : NSE & BSE index Sobha stock covered by, • Morgan Stanley • Bank of America & Merrill
Slide 21: Customer Profile
Customer Profile Buyers Profession Bank Funding Position Others Customers applied for Bank Loan 58% Enterpreneur/ Business 4% 8% Self Funding 42% IT / ITES Medical/ Professional Pharmaceutical 37% 6% IT / ITES Professional Manufacturing / Manufacturing / Services Services Medical/Pharmaceutical 45%
Slide 22: Fully Integrated Business Model
Fully Integrated Business Model • Residential • Commercial • IT Parks • Retail • Convention centre Real Estate • Hospitality • Multiplex Development • Hospitals • Schools Business Contracts Services Model • Facility Management • Architectural consulting • Interiors Manufacturing • Structural design
Slide 23: Interiors and Furnishing Division (Including Spring Mattress Division)
Interiors and Furnishing Division (Including Spring Mattress Division) Factory Area 0.85 Mn Sft Turnover 09-10 Rs.508 Mns Work Force 650 Turnover 10-11 Rs.557 Mns FEATURES PRODUCTS ¾ Largest wood working / ¾ Solid wood veneer paneled doors joinery facility in India. and MDF paneled doors ¾ Customize
Slide 24: Sobha Glazing & Metal Division
Sobha Glazing & Metal Division Factory Area 0.30 Mn Sft Turnover 09-10 Rs.653 Mns Work Force 607 Turnover 10-11 Rs.625 Mns FEATURES PRODUCTS ¾ Largest metal & glazing factory in India, spread ¾ Structural Glazing Works across 7.3 acres of land with ¾ MS & SS metal fabrications the factory covered ar
Slide 25: Sobha Concrete Product Division
Sobha Concrete Product Division Factory Area 0.35 Mn Sft Turnover 09-10 Rs.150 Mns Work Force 105 Turnover 10-11 Rs.161 Mna FEATURES PRODUCTS Fully Automated production and Hollow, Solid Blocks (4”, 6” & control facility by using remote 8”) and Lintel Blocks. controlling systems. Kerb Stones &
Slide 26: Superior Internal Process
Superior Internal Process ¾ Continuous training to the Engineers and Tradesmen from Sobha Training Academy ¾ International Quality Standards at execution (IS & DIN – Germany) Sobha Training Academy ¾ Imported German tools and supervision for fine detailing and workmanship Quality check at site ¾ Web
Slide 27: Recognition During the Year (Projects Level)
Recognition During the year (Projects Level) Sobha DAFFODIL, Bangalore • Sobha Daffodil bagged Best Residential property more than 5 lakh sq.ft from CNBC AWAAZ – CRISIl – CREDAI Real Estate Awards 2010 on Mar‐11 Infosys FOOD COURT3, Pune • Sobha bagged AESA (Architects, Engineers & Surveyors Associ
Slide 28: Recognition During the Year (Corporate Level)
Recognition During the year (Corporate Level) • Best Use of Public Relations by Private Sector • Lifetime Achiever’s Award to Mr. PNC Menon, Entity – Corporate Level from ‘Exchange4media’ Chairman & Founder of Sobha Developers, for Outstanding on Mar‐11 Contribution to Real Estate Sector from Realty
Slide 29: Thank You
THANK YOU Sobha Developers Ltd. S. Baaskaran K.Bala Murugan 43, Dickenson Road, Chief Financial Officer Deputy Manager – MD’s Office Ulsoor, Bangalore – 42. Mobile: +91- 98800 80009 Mobile: +91- 98807 30459 Phone: +91-80- 25564380 Email: [email protected] Email: [email protected] Fax: +91-