Prozone Realty Ltd · NSE:PROZONER
Prozone Realty — Prozone Intu Properties — Q2 FY2019 Earnings Presentation
39 slides from Prozone Realty's earnings presentation, Nov 15, 2018
Slide 1: Intimation of Conference Call and Presentation
prozone intu Dated: 15th November 2018 National Stock Exchange of India Limited BSE Limited Exchange Plaza Listing Department Bandra Kurla Complex, Bandra (E) P.J. Towers, Dalal Street, Fort Mumbai 400 051 Mumbai 400 001 Scrip: PROZONINTU Scrip: 534675 Dear Sir, Subject: Intimation of Conference Cal
Slide 2: Conference Call Invitation: Q2FY19 Results & Business Outlook
You are cordially invited to the Conference Call of Prozone Intu Properties Limited to discuss the Q2FY19 Results & Business Outlook Represented by: Mr. Nikhil Chaturvedi Managing Director Mr. Bipin Gurnani President Mr. Anurag Garg Chief Financial Officer Conference Dial-In Number Primary Number +9
Slide 3: Q2 FY19 Results Update Presentation
Upward Q2 FY19 RESULTS UPDATE PRESENTATION And Forward November 2018 PROZONE INTU PROPERTIES LIMITED 0
Slide 4: Table of Contents
TABLE OF CONTENTS 01 Quarterly Business Update 02 Financial Results 03 Asset Snapshot 04 Annexure 1
Slide 5: Quarterly Business Update
QUARTERLY BUSINESS UPDATE 2
Slide 6: Q2 FY19 Key Highlights: Revenue Acceleration Mode
Q2 FY 19 – KEY HIGHLIGHTS : PROZONE AT REVENUE ACCELERATION MODE Revenues (Rs. Mn) Revenues Mix (Rs. Mn) 400.0 400.0 350.0 350.0 300.0 300.0 192 250.0 250.0 394 200.0 200.0 110 90% 150.0 150.0 100.0 207 100.0 202 50.0 50.0 97 0.0 0.0 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 Sale of Premises Sale of Services
Slide 7: Q2 FY19 Key Highlights: Strong Revenue with Improved Margin
Q2 FY 19 – KEY HIGHLIGHTS STRONG REVENUE WITH IMPROVED MARGIN LEADING TO HIGHER PROFIT EBIDTA & EBIDTA Margin* Cash PAT (%) 40.2% 51.6% 118 140.0 250.0 50.0% 120.0 100.0 200.0 30.0% 80.0 150.0 225 10.0% 413% 60.0 100.0 23 -10.0% 147% 40.0 50.0 91 -30.0% 20.0 0.0 -50.0% 0.0 Q2 FY18 Q2 FY19 Q2 FY18 Q2
Slide 8: Q2 FY19 Results Highlights
Q2 FY19 RESULTS HIGHLIGHTS 01Strong Quarterly Revenue o Revenue during the quarter recorded 90% increase, with higher revenue from PTC and retail assets o Revenue recognition will remain at elevated level as PTC will continue to flow in P&L and gradual recognition will come from Nagpur residential 0
Slide 9: Q2 FY19 Results Highlights: PAT and Balance Sheet
Q2 FY19 RESULTS HIGHLIGHTS 03 PAT turned positive after many quarters o As Coimbatore Mall was under stabilization, reported PAT remained subdued for few quarters. However, going forward we should see gradual improvement in PAT as well o Cash PAT reported during quarter was Rs 118 mn 04 Strong Balan
Slide 10: Financial Results: Consolidated Income Statement
FINANCIAL RESULTS: CONSOLIDATED INCOME STATEMENT Rs. Mn. 2Q19 2Q18 YoY 1Q19 QoQ 1H19 1H18 YoY Revenue from Real Estate Projects 202.1 97.5 107% - NA 202.1 158.6 27% Lease Rental & Related Income 192.0 109.5 75% 170.1 13% 362.1 194.8 86% Total Income from operations 394.1 207.0 90% 170.1 132% 564.2 3
Slide 11: Prozone Intu on a Strong Footing
PROZONE INTU ON A STRONG FOOTING Aurangabad and Coimbatore mall leased out space currently stands at 83% and 89% 01 respectively, annuity income to increase significantly with ramp-up of Coimbatore mall Coimbatore Mall successfully completed one year of operations and achieved close to 02 90% le
Slide 12: Financial Results: Consolidated Balance Sheet
FINANCIAL RESULTS: CONSOLIDATED BALANCE SHEET Particulars (Rs Million) 1H FY19 FY18 Particulars (Rs Million) 1H FY19 FY18 Equity and Share Capital 5,021.6 5,231.9 Non-Current Assets Property, plant & equ. 85.2 95.1 Minority 3,251.1 3,428.1 Investment Property Under Total Shareholder’s Funds 8,272.7
Slide 13: Our Current Focus Areas
OUR CURRENT FOCUS AREAS 01 Letting out the balance space and also maintain effective Brand mix by undertaking churn at the mall. Mall leasing should gradually move towards 90% AURANGABAD MALL at Aurangabad 02 Leasing stands at 89%, working towards further increasing occupancy With further bran
Slide 14: Asset Snapshot
ASSET SNAPSHOT 11
Slide 15: Operating/Development Assets
OPERATING/DEVELOPMENT ASSETS Aurangabad Mall Nagpur Mall Nagpur Residential Coimbatore Mall Aurangabad PTC Coimbatore Residential 12
Slide 16: Retail – Aurangabad Mall Update
RETAIL – AURANGABAD MALL UPDATE Key Operating Parameters Q2 FY2018-19 Gross Leased Area (lakh sq.ft.) 5.74 Current Leasing Status 83% Number of Stores Signed 107 Retailer Sales (Rs. Mn.) 602 Average Monthly Trading Density (Rs/sqft) 511 Footfalls (Mn.) 2.43 Occupancy Footfall & Trading Density 24.3
Slide 17: Aurangabad Mall – Financial Snapshot
AURANGABAD MALL – FINANCIAL SNAPSHOT Operational Details (Rs. Mn.) Q2 FY19 Q1 FY19 Q4 FY18 Q3 FY18 Q2 FY18 Q1 FY18 Area Leased (lakh sq. ft.) 5.73 5.65 5.43 5.67 5.57 5.41 % Leased 83% 80% 78% 80% 79% 77% Sale of Premises 202.1 - 60.3 34.9 30.7 28.9 Rental Income 52.5 46.9 56.7 46.9 43.9 49.0 Recove
Slide 18: New Stores Opened at Aurangabad Mall
NEW STORES OPENED at AURANGABAD MALL 15
Slide 19: Brand Partners at Aurangabad Mall
BRAND PARTNERS AT AURANGABAD MALL 16
Slide 20: Events at Aurangabad Mall
EVENTS AT AURANGABAD MALL M & S Opening – 26th July 2018 Flat 50% EOSS – 8th July 2018 H & M Opening – 27th July 2018 Flash Mob :Dance Association of Aurangabad 17
Slide 21: Commercial Update Aurangabad – PTC Phase 1
COMMERCIAL UPDATE AURANGABAD – PTC PHASE 1 Prozone Trade Center (PTC) Phase 1 Q2 FY 2018-19 OC RECEIVED Total Area Launched (sqft) 190,318 Total Units Launched (No) 117 Total Area Sold (sqft) 184,796 % Total Area Booked 96% Avg. Sale Rate per sqft (Rs) 3,258 Prozone Trade Centre (PTC) Phase 1 Total
Slide 22: Commercial Update Aurangabad – PTC Phase 1
COMMERCIAL UPDATE AURANGABAD – PTC PHASE 1 19
Slide 23: Financial Snapshot - Coimbatore Mall
FINANCIAL SNAPSHOT - COIMBATORE MALL Key Operating Parameters Q2 FY2018-19 Gross Leased Area (lakh sq.ft.) 4.47 Current Leasing Status 89% Number of Stores Signed 119 Retailer Sales (Rs. Mn.) 590 Average Monthly Trading Density (Rs/sqft) 645 Footfalls (Mn.) 1.51 Occupancy Footfall & Trading Density
Slide 24: Financial Snapshot - Coimbatore Mall
FINANCIAL SNAPSHOT - COIMBATORE MALL Operational Details (Rs. Mn.) Q2 FY19 Q1 FY19 Q4 FY18 Q3 FY18 Q2 FY18 Area Leased (lakh sq. ft.) 4.47 4.45 4.42 4.37 4.23 % Leased 89% 89% 88% 87% 85% Rental Income 62.5 57.7 42.8 48.2 21.0 Recoveries (CAM & Other) 38.2 29.9 28.2 24.1 12.8 Total Income 100.7 87.6
Slide 25: New Store Opening at Coimbatore Mall
NEW STORE OPENING AT COIMBATORE MALL 22
Slide 26: Retail – Strong Brands at Coimbatore Mall
RETAIL – STRONG BRANDS AT COIMBATORE MALL 23
Slide 27: Events at Coimbatore Mall
EVENTS AT COIMBATORE MALL 1ST ANNIVERSARY RETAILERS AWARD CELEBRATION INDEPENDENCE & PRO FRIENDSHIP DAY 24
Slide 28: Project Update - Coimbatore - Residential
PROJECT UPDATE - COIMBATORE - RESIDENTIAL Coimbatore Residential (CGI) • ~1.9 m sqft of residential • 7 towers of 18 floors comprising 1,152 apartments • Amenities: Club house, swimming pool tennis court, amphitheatre, squash court, gymnasium Units Formal Expected Total Units – RESIDENTIAL Phase 1
Slide 29: Project Update – Nagpur
PROJECT UPDATE – NAGPUR • 0.5m sqft of retail space Nagpur mall design (CGI) under planning • 0.39m additional development potential ______________________________ • 4.5m catchment population ______________________________ • 15.7 acres of residential under development • 12 towers of 14 floors compri
Slide 30: Nagpur Residential Tower Nearing Completion
NAGPUR RESIDENTIAL TOWER NEARING COMPLETION 27
Slide 31: Project Update - Indore Residential
PROJECT UPDATE - INDORE RESIDENTIAL Indore township design (CGI) • 1.9m city population • Prominent business and industrial centre in Madhya Pradesh ______________________________ • 43.5acres comprising residential township with 5 acres for commercial to be developed in phases • Phase 1&2 is for plo
Slide 32: Disclaimer
DISCLAIMER Generic Disclaimer The following is a general overview of Prozone INTU Limited (the “Company”) and is qualified in its entirety by reference to the applicable offering memorandum, memorandum and articles of association or other constitutional documents and subscription agreement (together
Slide 33: Thank You
THANK YOU Email: [email protected] Ravindra Bhandari Website: www.prozoneintu.com Dickenson Seagull IR Contact: 92836 14197 Email: [email protected] Website: www.dickensonir.com 30
Slide 34: Annexure
prozone ANNEXURE intu @
Slide 35: About Us
ABOUT US • Prozone Intu Properties Ltd. (Prozone Intu) is jointly developed by Promoters and Intu Properties Plc set up to create, develop and manage world-class regional shopping centres and associated mixed-use developments Pan-India. BUSINESS • Prozone Intu strategy is to participate and dominate
Slide 36: Understanding Our Business Model - Business Strategy
UNDERSTANDING OUR BUSINESS MODEL - BUSINESS STRATEGY Business Strategy • Develop Large scale Land Parcels for Mixed Use development. • 75% of the Land to be developed as Residential & Commercial – Build & Sell model • 25% of the Land to be developed as Retail – Build & Lease Model • The Company foll
Slide 37: Understanding Our Business Model - Business Strategy
UNDERSTANDING OUR BUSINESS MODEL - BUSINESS STRATEGY Regional Malls Yield under own Lease Management Model Debt Free Large scale Assets land parcels FUTURE Profits & GROWTH for mixed use developments Shareholder Residential & Cash Value Commercial Sales Developments Model • Locations selected in hig
Slide 38: Our Board of Directors
OUR BOARD OF DIRECTORS Nikhil Chaturvedi John Abel (Director Emeritus) Dushyant Sangar Founder and Managing Director, Mr John Abel joined the Liberty Intl Mr. Dushyant Sangar is the Corporate Nikhil is a visionary and hands-on Group in 1972 and was appointed an Development Director of Intu leader, w
Slide 39: Trading Update
TRADING UPDATE Shareholding in % – Jun 2018 Key Investors Holding (%) ACACIA Partners 3.25% Others, Promoters, 32.4% 31.0% Aditya Chandak & Family 3.22% Rakesh Jhunjhunwala 2.46% Ramesh Damani & Family 1.19% FII, 4.3% Cavendish AM 0.86% Intu Properties, 32.4% Life Insurance Corporation (LIC) 0.11% S
Prozone Intu Properties — Q2 FY2019 Earnings Presentation on 6ix