Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Q2 FY19 Earnings Presentation
42 slides from Mahindra Lifespace Developers's earnings presentation, Oct 26, 2018
Slide 1: Intimation to stock exchanges under SEBI LODR
mahindra Mahindra Lifespace Developers Ltd. llFESPACES CIN Lil '.5200Ml-l 1 �lD�1PLC1189t:l �1 Mahind1'D Towers, t:ith Fluor, Dr. c;_ M. Bhosale Marg, Wol'li, Mumbai L'lOO CJ18, India Tel: +91 22 67�78500 / 8601 Fax: +91 22 24875084 wwv11.ff1<:1hindralifespaces.corn 26th October, 2018 Bombay Stock E
Slide 2: Investor Presentation – Q2 FY19
Artist’s impression of ‘LAKEWOODS’ @ MWC Chennai Investor Presentation – Q2 FY19 1
Slide 3: Contents
Contents ▪ Q2 FY19 Highlights ▪ Residential Business Update ▪ Integrated Cities & Industrial Clusters Update ▪ Financial Update 2
Slide 4: Q2 FY19 Highlights
Q2 FY19 Highlights The operating highlights from Slide 4 to Slide 24 are for the Company and its subsidiaries / joint ventures / associates engaged in the real estate business (MLDL, MHPL, MBDL, MITL, MRDL, MHDL, MWCDL, MWCJL, MIPCL & MIPPL) Disclaimer: The Company has registered its ongoing project
Slide 5: Key Highlights – Q2 FY19
Key Highlights – Q2 FY19 o Launched a new project ‘LAKEWOODS’ (Phase I) in Mahindra World City, Chennai. The project has a total saleable area of 0.90 msft comprising of 747 units. o Best ever Q2 sales of 0.40 msft saleable area (350 units), valued at Rs. 256 crores. o Attained collection of Rs. 249
Slide 6: Key Highlights – Q2 FY19
Key Highlights – Q2 FY19 o Best ever Q2 lease value of Rs. 67.4 crores. ▪ Leased an area of ~12.3 acres (3 customers) at MWC, Chennai. ▪ Leased an area of ~13.0 acres (2 customers) at MWC, Jaipur. Integrated o Pursuant to the strategic partnership with International Finance Cities & Industrial Corpo
Slide 7: Residential Business Update
Residential Business Update 6
Slide 8: Sales – Quarterly Trend and Launches
Sales – Quarterly Trend 538 0.40 0.36 0.29 0.25 0.22 345 350 256 217 200 156 163 144 111 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Sales Value (Rs. Crs) Units Sold Saleable Area (msft) Windchimes II Boisar IV Palghar 1 (Ph I & II) Roots, Kandivali Lakewoods, MWC Chennai Launches Bloomdale IVB Palghar
Slide 9: Sales - City and Price Segment wise
Sales - City and Price Segment wise Q2 FY19 City-wise Sales (Volume) Q2 FY19 City-wise Sales (Value) 16% MMR MMR 25% 21% Pune 32% Pune Nagpur Nagpur NCR NCR 24% 13% Hyderabad Hyderabad 19% Chennai Chennai 3% Bangalore 4% 19% Bangalore 4% 7% 3% 10% Q2 FY19 Price Segment-wise Sales (Volume) Q2 FY19 Pr
Slide 10: Operating Metrics
Operating Metrics Construction Spend (Rs. Cr) Customer Collections (Rs. Cr) 117 249 218 92 199 82 64 133 142 57 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 No. of Units Handed over to Clients Area Completed (msft) 513 0.44 399 0.33 364 318 0.25 229 0.16 Q2 FY18 Q3
Slide 11: Project Portfolio
Project Portfolio Location Saleable Area 2 (msft) Ongoing Forthcoming Land Inventory MMR** 0.81 2.22 0.941 Pune 0.57 0.33 - Nagpur 0.83 0.20 - NCR* 0.77 0.37 - Bengaluru 0.43 - - Chennai 0.75 1.29 9.50 Total 4.15 4.41 10.44 Total Completed Development – 15.23*** msft * NCR includes Delhi, Gurgaon an
Slide 12: Summary of Ongoing and Forthcoming Projects
Summary of Ongoing and Forthcoming Projects All figures in million square feet (msft) Total Launched Completed Ongoing Balance (to be Company / Region Project Name Development Development Development Development launched) SPV A B C D E = (A-C-D) MMR Serenes MLDL 0.16 0.06 - 0.06 0.09 Happinest Boisa
Slide 13: Development mix of Ongoing Projects
Development mix of Ongoing Projects Indicative Area Range Region Project Name Location Segment Development mix prices Saleable (sqft) (Rs. Crs) MMR Serenes Alibaug Luxury 3, 4 BHK Villas 3000 - 3400 3 - 3.5 Happinest Boisar Boisar Affordable 1 RK,1 & 2 BHK 369 - 762 0.13 - 0.27 Vivante Mumbai Mid-Pr
Slide 14: Summary of Ongoing Projects
Summary of Ongoing Projects msft = million square feet Launched PTD Sales RERA Area Sold Location Project Name Development* % completion** Value Completion (msft) (msft) (Rs. Cr) Date*** MMR The Serenes I 0.06 0.02 76% 13.8 Aug-18 to Dec-21 Happinest Boisar IV 0.07 0.01 74% 3.4 May-20 Happinest Palg
Slide 15: Summary of Ongoing Projects
Summary of Ongoing Projects msft = million square feet Launched PTD Sales RERA Area Sold Location Project Name Development* % completion** Value Completion (msft) (msft) (Rs. Cr) Date*** NCR Luminare I # 0.37 0.24 91% 319.4 Mar-20 Luminare II # 0.41 0.12 62% 159.2 Mar-21 Bengaluru Windchimes II - To
Slide 16: Ongoing Projects Snapshot
Ongoing Projects Snapshot Bloomdale 2B-2 (Sept’18) Bloomdale 2C (Sept’18) Aqualily 2E – 2 (Sept’18) Vivante Tower B3 & B4 (Sept’18) Antheia IIIA (Sept’18) The Serenes (Sept’18) 15
Slide 17: Ongoing Projects Snapshot
Ongoing Projects Snapshot Luminare - Tower C (Sept’18) Windchimes II (Sept’18) Happinest Avadi – Ph III (Sept‘18) Happinest Palghar – Ph I (Sept‘18) Luminare - Tower A (Sept’18) 16
Slide 18: Forthcoming Projects
Forthcoming Projects Est. Saleable Area* Category Location Name of the Project msft Subsequent Phases of Existing Projects MMR Serenes 0.09 Nagpur Bloomdale 0.20 Mid & Premium Residential Aqualily 0.07 Chennai Lakewoods 0.62 NCR Luminare # 0.37 MMR Happinest Palghar 1 0.04 Affordable Housing Chennai
Slide 19: Balance Inventory in Completed Projects
Balance Inventory in Completed Projects Balance units Location Project Name Company MLDL Holding to sell * MMR Happinest Boisar MLDL 100% 34 Pune Antheia MLDL 100% 26 NCR Aura MLDL 100% 1 Bengaluru Windchimes MHPL 50% 37 Hyderabad Ashvita # MLDL 100% 13 Chennai Aqualily Apts A, B & C1 MRDL 96% 46 TO
Slide 20: Cash Flow Potential
Cash Flow Potential Value Particulars ( Rs. Cr) Ongoing & Completed Sales completed in ongoing projects 1521 Projects Less : Amount collected from sales 717 Net amount to be collected on completed sales 804 Estimated sales from finished goods & balance inventory in ongoing projects # 1496 Less: Esti
Slide 21: Integrated Cities & Industrial Clusters Update
Integrated Cities & Industrial Clusters Update 20
Slide 22: Mahindra World City, Chennai – Business Update
Mahindra World City, Chennai – Business Update • Total number of customers: 77 (62 Operational) Total Area Procured – 1524 acres | Leasable Area – 1145 acres • Signed 1 new customer & 1 existing customer 425 425 422 408 expansion during Q2 FY19 ✓ DMI Draexlmaier Manufacturing India Pvt. 298 271 Ltd.
Slide 23: Mahindra World City, Jaipur – Business Update
Mahindra World City, Jaipur – Business Update Total Area Procured – 2913 acres | Leasable Area – 2011 acres • Total number of customers: 85 (51 Operational) • Signed 1 new customers & 2 existing customer 1026 expansion during Q2 FY19 ✓ Indo Autotech Limited (DTA): 5.61 Acres 695 ✓ SSS and Associates
Slide 24: Industrial parks – Origins, Ahmedabad & North Chennai
Industrial parks – Origins, Ahmedabad & North Chennai Projects Gross / Leasable Area 340 Area in acres Acquired 264 additional land of 221 70.8 acres at 187 Origins, Ahmedabad during Q2 FY19 Ahmedabad North Chennai Gross Area Leasable Area* Ahmedabad Project Details: (Forthcoming) North Chennai Proj
Slide 25: Recurring Rental Income
Recurring Rental Income Quarterly Recurring Income (Rs. Crs) Evolve, MWCJ 25.00 21 20 20 20 20 20.00 Total area 0.431 msft 15.00 Area leased 0.405 msft 10.00 Mahindra Towers, Delhi 5.00 Total area 0.056 msft 0.00 Q2 FY18 Q3 FY18 Q4 FY19 Q1 FY19 Q2 FY19 Area leased 0.052 msft Evolve, MWCJ Canopy, MWC
Slide 26: Financial Update
Financial Update 25
Slide 27: Financial Snapshot – MLDL Consolidated IND AS
Financial Snapshot – MLDL CONSOLIDATED IND AS Statement of Profit and Loss All figures in Rs. Cr rounded off Particulars Q2 2019 Q1 2019 Q2 2018 H1 2019 H1 2018 FY 2018 Income Income from Operations 80.2 154.0 100.0 234.2 236.1 566.2 Other Income 13.7 21.8 29.1 35.5 41.8 77.9 93.9 175.8 129.1 269.6
Slide 28: Financial Snapshot – MLDL Consolidated IND AS (POCM)
Financial Snapshot – MLDL CONSOLIDATED IND AS Statement of Profit and Loss based on POCM for revenue recognition All figures in Rs. Cr rounded off Particulars Q2 2019 Q1 2019 Q2 2018 H1 2019 H1 2018 FY 2018 Income Income from Operations 99.5 89.4 100.0 188.9 236.1 566.2 Other Income 13.7 21.8 29.1 3
Slide 29: Financial Snapshot – MLDL Consolidated IND AS
Financial Snapshot – MLDL CONSOLIDATED IND AS Balance Sheet All figures in Rs. Cr rounded off EQUITY & LIABILITIES Q2 2019 FY 2018 ASSETS Q2 2019 FY 2018 Property, Plant and Equipment 7.1 7.0 Equity Share capital 51.3 51.3 Capital work-in-progress 9.5 9.1 Other Equity 1,912.7 2,007.5 Investment Prop
Slide 30: Key Highlights
Key Highlights Total Income (Rs. Cr)* Operating Income (Rs. Cr)* 186 168 181 176 162 154 129 100 94 80 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 EBITDA (Rs. Cr)* and EBIDTA Margin PAT (Rs. Cr)* and PAT Margin 75 57% 44% 48 41 42% 53 45 43 26 27 30 26% 24% 24% 23
Slide 31: Key Highlights
Key Highlights Gross Debt Equity Ratio* Net Debt Equity Ratio* 0.14 0.13 0.22 0.21 0.22 0.15 0.12 0.05 0.04 0.01 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Interest Rate 9.41% 9.49% 9.38% 8.84% 8.56% Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Interest rate has been
Slide 32: Residential and IC & IC Business Performance
Residential and IC & IC Business Performance 31
Slide 33: Residential and IC&IC Business Performance
Residential and IC&IC Business Performance All figures in Rs Crore unless specified Residential * IC & IC Particulars Q2 FY19 H1 FY19 Q2 FY19 H1 FY19 Area Sold (msft) / Land Leased (acres) 0.40 0.69 25.35 38.80 Sales / Lease Income 256 401 67 89 Total Income 212 426 88 128 EBIDTA 67 99 34 57 EBIDTA
Slide 34: Summary of Key Financials by legal entities for Q2 FY19
Summary of Key Financials by legal entities for Q2 FY19 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total Entity Name Interest Income EBIDTA PAT Debt Net Worth MLDL 100.0% 104.9 34.4 22.1 123.9 1,730.9 MHPL^ 50.0% 260.7 48.0 31.9 # 902.2 (27.1) MBDL 70.0% 0.6 (0.4) (0.
Slide 35: Summary of Key Financials by legal entities for H1 FY19
Summary of Key Financials by legal entities for H1 FY19 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total Entity Name Interest Income EBIDTA PAT Debt Net Worth MLDL 100.0% 250.4 59.9 37.3 123.9 1,730.9 MHPL^ 50.0% 261.3 45.2 24.4 # 902.2 (27.1) MBDL 70.0% 42.2 4.9 3.2
Slide 36: Annexures
Annexures 35
Slide 37: Structure Overview
Structure Overview Note: Overview includes asset owning SPVs only. Shareholding percentage are based on common equity capital in SPVs as on September 2018. Numbers are rounded to the nearest percentage. # MIPPL is a strategic partnership between MLDL and IFC. Actis acquired the portfolio of SCM in Q
Slide 38: Completed Projects
Completed Projects Area Area Area Area Location Name of the Project Location Name of the Project (mn sqm) (msft) (mn sqm) (msft) Mumbai Eminente 0.05 0.57 NCR Aura 0.13 1.36 Splendour 0.07 0.78 Chloris 0.04 0.39 Mahindra Park 0.02 0.19 Central Park 0.11 1.17 Mahindra Heights 0.01 0.06 Great Eastern
Slide 39: Glossary
Glossary Classification of projects is as under: Actis Actis GP LLP a. Completed: projects where construction has been DTA Domestic Tariff Area completed and occupancy certificates have been HDFC HDFC Capital Affordable Real Estate Fund-1 granted by the relevant authorities Capital IC&IC Integrated
Slide 40: Investor Relations Contact
Investor Relations Contact Investor Relations Contact Jayantt Manmadkar Sumit Kasat Chief Financial Officer General Manager – Finance & Investor Relations Mahindra Lifespace Developers Limited Mahindra Lifespace Developers Limited 5th Floor, Mahindra Towers 5th Floor, Mahindra Towers Worli, Mumbai -
Slide 41: Disclaimer
Disclaimer ▪ This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Develo
Slide 42: Thank You
Thank You Mahindra Lifespace Developers Limited CIN L45200MH1999PLC118949 th 5 Floor, Mahindra Towers, Worli, Mumbai - 400 018 Tel: 022 6747 8600/ 6747 8601| Fax: 022 2497 5084 Website: www.mahindralifespaces.com 41
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