Dlf Limited · NSE:DLF
Dlf — Q3 FY08 Earnings Presentation
37 slides from Dlf's earnings presentation, January 2008
Slide 1: DLF Limited Q3 FY08 Analyst Presentation
DLF Limited Q3 FY08 Analyst Presentation • The Previous Quarter figures have been regrouped / rearranged wherever necessary to make them comparable. 1
Slide 2: Strengths / Differentiators
Strengths / Differentiators • Robust business model with mix of development & rental earnings • Low risk due to multiple businesses and segments within businesses, across geographies • All earnings enablers in place – high quality / high value “zoned” land resource in super metros & metros and motiv
Slide 3: Results at a Glance – Q3 FY08
Results at a Glance – Q3 FY08 Q3 FY08 Q2 FY08 Q1 FY08 Percentage Percentage Percentage Sl.No. Consolidated Financials Rs. Crs. of Total Rs. Crs. of Total Rs. Crs of Total Revenue Revenue Revenue A) 1 Sales and Other Receipts 3,598 3,250 3,074 2 Other Income 53 99 47 Total Income(A1+A2) 3,651 100% 3,
Slide 4: Profit & Loss A/c: 9 months ending Dec 07 vs FY07
Profit & Loss A/c: - 9 months ending Dec 07 vs FY07 (Rs in Crores) PARTICULARS NINE MONTHS YEAR ENDED % CHANGE ENDED 31.03.2007 31.12.2007 Audited (Reviewed) Sales and other receipts 9,922 2,634 Other Income 199 1,419 Total Revenue (1+2) 10,121 4,053 233 Total Expenditure 2,953 1,148 243 a) Cost of
Slide 5: Consolidated Balance Sheet – Q3 FY08
Consolidated Balance Sheet – Q3 FY08 (Rs. In Millions) 31-Dec-07 30-Sep-07 30-Jun-07 SOURCES OF FUNDS Shareholders' funds Capital 12,905 12,908 12,908 Reserves and surplus 163,953 145,832 125,270 176,858 158,740 138,178 Minority Interests 3,843 1,364 168 Loan funds Secured loans 66,286 68,657 94,946
Slide 6: Consolidated Balance Sheet – months ending Dec vs FY07
Consolidated Balance Sheet – 9 months ending Dec 07 vs FY07 (Rs. In Millions) 31-Dec-07 31-Mar-07 SOURCES OF FUNDS Shareholders' funds Capital 12,905 12,557 Reserves and surplus 163,953 22,992 176,858 35,549 Minority Interests 3,843 92 Loan funds Secured loans 66,286 92,053 Unsecured loans 26,117 7,
Slide 7: Cash Flows – Q3 FY08
Cash Flows – Q3 FY08 Rs mn Nine Months ended Half year ended Quarter ended Particulars 31-Dec-07 30-Sep-07 30-Jun-07 A. Cash flow from operating activities: Net profit before tax 69,358 44,752 21,267 Adjustments for: Depreciation 424 275 166 Loss/(profit) on sale of fixed assets, net 4 2 3 Provision
Slide 8: Net Debt Position
Net Debt Position Rs Crore Total Debt 9240 Less Cash on hand 776 Less Paid for AMAN acquisition 1000 Less Receivable from DOT 2037 Less Receivable from Merrill Lynch 917 Less Self Liquidating Loans 808 Net Debt 3702 8
Slide 9: Homes
Homes • Last two months saw aggressive launch of mid-income housing projects with specific focus on affordability and actual user in Chennai, Indore and Kolkata along- with a premium residential project in Kochi • Momentum to continue in the coming quarters, demonstrating strong demand for affordabl
Slide 10: Homes
Homes Q 3 FY 08 Q 2 FY 08 Q 1 FY 08 Particulars Total mn sqft Total mn sqft Total mn sqft Super Luxury Luxury Mid Income Total Super Luxury Luxury Mid Income Total Super Luxury Luxury Mid Income Total Sales Booked Opening Balance 0.39 5.04 0.00 5.43 0.39 4.93 0.00 5.32 0.00 4.83 0.00 4.83 Booked dur
Slide 11: Homes – Mid-Income Housing Story unfolds
Homes Mid - Income Housing Story unfolds Gross Sales Price Realised S.NO. Project City AREA SOLD IN Q3 SOLD TILL 23 rd JAN'08 At Launch Current ( in mn sqft) No. ( in mn sqft) No. (Rs. Per Sq. Ft.) (Rs. Per Sq. Ft.) A APPARTMENTS 1 NEW TOWN HEIGHTS KOLKATA 0.93 571 0.13 69 3137 3662 2 DLF RIVERSIDE
Slide 12: New Launch – Q3 FY08
New Launch – Q3 FY08 NEW TOW N HEIGHTS, KOLKATA AREA 15 Acres APARTM ENTS 798 TOW ERS 9 SIZE 1249 to 2565 sq ft FLOORS 17 to 31 BSP (Rs.) 3275/- per sq ft A prem ium residential condom inium in Kolkata's m ost sought-after neighbourhood, Rajarhat. New Town Heights in Rajarhat includes 9 im pressive
Slide 13: New Launch – Q3 FY08
New Launch – Q3 FY08 DLF RIVERSIDE - VYTILLA AREA 5.19 Acres APARTMENTS 176 TOWERS 5 SIZE 2043 to 5793 sq ft FLOORS 12 to 20 BSP (Rs.) 3500/- per sq ft DLF Riverside has 5 impressive residential towers extending from 12 to 20 floors, adding up to 176 apartments. This luxury condominium offers 3 and
Slide 14: New Launch - Q4 FY08
New Launch - Q4 FY08 GARDEN CITY DLF OMR – CHENNAI AREA 53.5 Acres APARTMENTS 3400 approx TOWERS 32 SIZE 1180 to 1850 sq ft FLOORS Stilt + 19 BSP (Rs.) 3000/- per sq ft Garden City DLF OMR has 32 impressive residential towers from Stilt + 19 floors, adding up to 3400 apartments(approx). This luxury
Slide 15: New Launch - Q4 FY08
New Launch - Q4 FY08 GARDEN CITY - INDORE AREA 82 Acres PLOTS 499 PLOTS SIZE 1249 to 2565 sqft PLOTS BSP (Rs.) 720/- per sqft ROW HOUSES 117 ROW HOUSES SIZE 1200 to 1400 sqft Garden City, Indore is set to redefine the city’s landscape with 82 acres of picturesque housing space decorated with 7 theme
Slide 16: Forthcoming Launches
Forthcoming Launches KOCHI GOA Area : 2.39 mm sqft Area : 0.41 mn sqft High Rise GHS Villas NEW GURGAON PANCHKULA, CHANDIGARH Area : 3.5 mm sqft Area : 7.90 mn sqft High Rise GHS High Rise GHS Plots & Row House 16
Slide 17: Progress - Large Township
Progress - Large Township • Manesar: Signed the agreement with Haryana Government for Manesar SEZ • Ambala: Signed the agreement with Haryana Government for Ambala SEZ • Land acquisition for both these SEZs is in progress to create integrated enclaves to cater to different needs of residential, recr
Slide 18: Retail – Malls and Commercial Complexes
Retail– Malls and Commercial Complexes Q3 FY 08 Q2 FY 08 Q1 FY 08 Particulars Total mn sqft Total mn sqft Total mn sqft Super Metros Metros Others Total Super Metros Metros Others Total Super Metros Metros Others Total Sales / Leased Booked Opening Balance 4.52 0.20 0.26 4.98 3.44 0.20 0.27 3.90 2.8
Slide 19: New Generation Malls handing over for fit outs in Q3 FY08
New Generation Malls handing over for fit outs in Q3 FY08 DLF PROMENADE, VASANT KUNJ Area : 0.50 mn sqft 7 Screen Cinema Long Atrium Open Air Entertainment & Leisure Area 5 Mini Anchors DLF EMPORIO, VASANT KUNJ Area : 0.35 mn sqft DLF first Super Luxury Mall Indian Best range of
Slide 20: Handover expected in Q4 FY08
Handover expected in Q4 FY08 CITY CENTRE, SHALIMAR BAGH THE GALLERIA, MAYUR VIHAR Area : 0.26 mn sqft Area : 0.17 mn sqft Shalimar Bagh in North Delhi Mayur Vihar in East Delhi DLF SOUTH POINT MALL, DLF COURTYARD, SAKET GURGAON Area : 0.66 mn sqft Saket in New Delhi Area : 0.28 m
Slide 21: Forthcoming Launches of commercial complexes
Forthcoming Launches of commercial complexes THE GALLERIA, LUDHIANA DLF TOWER, HYDERABAD Area : 0.39 mn sqft Area : 0.34 mn sqft Integrated development of Retail & Offices Long Atrium Best designed Restaurants Integrated development of Retail & Offices Mini Bazar Banjara Hill, Hy
Slide 22: Update – Retail – Malls & Commercial Complexes
Update –Retail- Malls & Commercial Complexes • New Acquisitions: • Pune: Central business district 3 mn sqft • Hyderabad- Raidurg • Construction to start in Chennai for mall 22
Slide 23: Offices
Offices Q3 FY 08 Q2 FY 08 Q1 FY 08 Particulars Total mn sqft Total mn sqft Total mn sqft Super Metros Metros Others Total Super Metros Metros Others Total Super Metros Metros Others Total Sales / Leased Booked Opening Balance 8.45 1.11 1.91 11.48 8.34 1.02 1.90 11.27 5.13 1.71 1.47 8.31 Add : Lease
Slide 24: Strategy & Update – Offices
Strategy & Update –Offices • Handed Over : 9 Cyber City, Gurgaon: - Building No. 10 Tower A - Building No.6 ~ Two Blocks 9 Noida IT Park Phase II • Projects started : 9 SIEL IT Park Delhi 9 Cyber Park, Gurgaon (Former GE Plastics factory) • New Acquisitions : 9 Hyderabad Raidurg : Acquired two parce
Slide 25: Offices Handed Over In Q3 FY08
Offices Handed Over In Q3 FY08 CYBER CITY, GURGAON BUILDING NO. 10-TOWER A BLDG NO.6-TWO BLOCKS NOIDA IT PARK-PHASEII Biggest opportunity to avail an A seamless integration of A Global Standard intelligent workspace intelligence and Workspace Workspace Block A Block B & C Block B Ground plus 5 floor
Slide 26: Office - SEZs - IT/ITES
Office - SEZs –- IT/ITES SEZ STATUS BOA Area PROJECTS City Approval/Notifi Status (in mn sqft) cation IT/ITES CHENNAI IT PARK Chennai 7.03 Notified Occupied, Operational & Under Construction SILOKERA IT PARK Gurgaon 5.18 Notified Partially Leased & Under Construction HYDERABAD GACHIBOWLI IT PARK Hyd
Slide 27: Strong Execution Capability in Construction
Strong Execution Capability in Construction • Projects under construction: 59 mn sq ft • For the month of January 2008: - Cement consumption: 50,000 tonnes - Steel consumption: 20,000 tonnes - Concrete consumption: 1,80,000 cubic metres 27
Slide 28: Hotels – Progress so far
Hotels Progress so far: • 51 sites have been acquired and are in various stages of design, development and execution. • “International Convention Centre at Dwarka, New Delhi, is in advanced stage of design and development • Panel of architects, consultants and vendors have been identified and brough
Slide 29: Hotels – Locations of various sites
Hotels – Locations of various sites 29
Slide 30: Hotels – International Convention Centre, Dwarka, New Delhi
Hotels International Convention Centre – Dwarka, New Delhi • The largest Convention Centre in Asia with 2.5 mn sq ft of developed area • International panel of reputed architects, designers and consultants have been engaged 9 HOK of USA have been appointed as the architects for the project 9 Lang O’
Slide 31: Hotels – Acquisition of luxury resort chain Aman
Hotels Acquisition of luxury resort chain “Aman” • Aman – an outstanding brand and a winner of over 500 awards since 1988, such as: 9 Condé Nast "The Gold List", 9 Gallivanter's Guide "Best Hotel Worldwide“ • Owns and operates 18 luxury resorts worldwide and several new projects are under developmen
Slide 32: Presence of AMAN Resorts
Presence of AMAN Resorts AMANGANI LE MÉLÉZIN USA France AMANKORA AMAN Delhi Bhutan AMANJENA AMANBAGH AMANSARA Morocco AMAN –I-KHAS Combodia AMANYARA India Turks & caicos AMANPULO Philippines AMANGALLA AMANWALA AMANPURI Srilanka Thailand HOTEL BORA BORA AMANWANA French Polynesia Indonesia AMANJIWO In
Slide 33: Human Resource Update - Q3 FY08
Human Resource Update - Q3 FY08 Employee count as on Dec 31, 2007: 3697 Qualification Count For New Employee Joining In Q3 QUALIFICATION COUNT 5% 35% 60% Total Professional Non-Technical Total Professional Technical Total Non- Professional CLASSIFICATION No. Percentage Total Professional Non-Technic
Slide 34: Our Land Resource
Our Land Resource Land Resource as on 31-Dec-2007 Mn Sqft Total Super Metros Metros Tier-I Tier-II Segment Office 151 53 71 21 6 Retail 88 31 35 13 9 Super Luxury 4 4 0 0 0 Luxury 48 40 6 1 0 , Mid income /Villas /Plots 440 129 230 67 14 Hotel / Convention Centre / Service Apt. 17 7 4 4 2 Grand Tota
Slide 35: Land Balance Payable as on 31st December 07
Land Balance Payable as on 31st December 07 Land Balance Payable as on 31-Dec-2007 Rs crore Total Super Metros Metros Tier-I Tier-II Total Land Cost 22,562 10,162 7,236 4,326 838 Less : Amount paid 13,933 9,155 1,866 2,233 678 Balance due 8,629 1,007 5,370 2,092 160 Less : From Merill , 918 0 918 0
Slide 36: Comparison of Land Resource Q2 vs Q3
Comparison of Land Resource Q2 vs Q3 Area in mn sqft Particulars Grand Total Super Metros Metros Tier-I Tier-II Land Reserves as per Q2 FY08 738 257 333 105 43 Area developed & Sold , (6) (4) (2) 0 0 Area atributable to Partners ( Merill & Brahma ) (38) 0 (30) (5) (2) Business Preposition / Product
Slide 37: DAL vs Non DAL Q3 FY08
DAL vs Non DAL Q3 FY08 Oct-07 to Dec-07 DAL Non-DAL Total Particulars (Rs. Crores) Sales 2057 1594 3651 Less: Construction Cost 487 464 951 Less: Overheads 135 104 239 PBT 1435 1026 2461 Percentage of Total PBT 58% 42% 100% April - Sep, 2007 DAL Non-DAL Total Particulars (Rs. Crores) Sales 3041 3431