Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — H1 FY2019 Earnings Presentation
41 slides from Prestige Estates Projects's earnings presentation, September 2018
Slide 1: Investor Presentation Half Year Results September 2018
INVESTOR PRESENTATION HALF YEAR RESULTS SIX MONTHS ENDED 30TH SEPTEMBER 2018 MN SFT DELIVERED Since 1986.. 1 PRESTIGE GROUP | Presentation | September 2018
Slide 2: Index
INDEX 1 KEY HIGHLIGHTS a)OPERATIONAL HIGHLIGHTS b)FINANCIAL HIGHLIGHTS 2 OPERATIONAL UPDATE 3 FINANCIAL UPDATE 4 PROJECT PORTFOLIO & UPDATE 5 RECEIVABLES PROFILE 6 ABOUT PRESTIGE GROUP 7 BOARD & MANAGEMENT 8 ANNEXURE PRESTIGE GROUP | Presentation | September 2018 2
Slide 3: Key Highlights: Operational Performance
KEY HIGHLIGHTS 1. Q2F19 TOTAL SALES UP 28% YOY at Rs 10,269 Mn ; H1FY19 TOTAL SALES UP 44% YOY at Rs 20,080 Mn HALF YEAR RESULTS OPERATIONAL PERFORMANCE 2. Q2F19 TOTAL COLLECTIONS UP 29% YOY at Rs 10,286 Mn ; H1FY19 TOTAL COLLECTIONS AT RS 19,951 MN 3. Q2F19 LEASING UP 9% YOY at 0.42 mn sft ; H1FY19
Slide 4: Key Highlights: Consolidated Financials
KEY HIGHLIGHTS HALF YEAR RESULTS CONSOLIDATED FINANCIALS 1. Q2FY19 TOTAL REVENUE AT RS 13,628 MN, UP BY 23% YOY ; H1FY19 Total revenue at Rs 22,555 Mn, up by -7% YoY 2. Q2FY19 EBITDA at Rs 4,063 Mn up by 35% YoY ; H1FY19 EBITDA at Rs 6,939 Mn up by 9% YoY 3. Q2FY19 PAT Rs 1022 Mn up by 13% YoY ; H1F
Slide 5: Q2 Operational Update
Total Sales Value up VALUE IN ₹ Mn AREA IN MN SQFT 5% qoq, 28% yoy 10,269 Q2 9,811 OPERATIONAL 8,035 UPDATE Q2FY19 Q1FY19 Q2FY18 Total Sales Volume up Total Collections up 18% qoq, 45% yoy 6% qoq, 29% yoy 1.68 10,286 9,665 1.43 7,980 1.16 Q2FY19 Q1FY19 Q2FY18 Q2FY19 Q1FY19 Q2FY18 PRESTIGE GROUP | Pr
Slide 6: Q2 Operational Update
VALUE IN ₹ Mn AREA IN MN SQFT Q2 OPERATIONAL UPDATE Total Area Delivered Launches 141% qoq -41% qoq 12.10 1.00 0.60 5.03 - - Q2FY19 Q1FY19 Q2FY18 Q2FY19 Q1FY19 Q2FY18 PRESTIGE GROUP | Presentation | September 2018
Slide 7: H1 Operational Update
VALUE IN ₹ Mn AREA IN MN SQFT SALES VALUE UP 44% YOY 20,080 H1 OPERATIONAL UPDATE 13,987 SALES VOLUME UP 50% YOY H1FY19 H1FY18 COLLECTIONS 19,951 20,240 3.11 2.07 H1FY19 H1FY18 H1FY19 H1FY18 PRESTIGE GROUP | Presentation | September 2018
Slide 8: H1 Operational Update
VALUE IN ₹ Mn AREA IN MN SQFT H1 OPERATIONAL UPDATE COMPLETIONS LAUNCH 17.13 1.60 6.24 - H1FY19 H1FY18 H1FY19 H1FY18 PRESTIGE GROUP | Presentation | September 2018
Slide 9: Operational Update: Prestige Share
Value in ₹ Million Volume in Mnsqft OPERATIONAL Particulars Q2FY19 Q2FY18 Q1FY19 H1FY19 H1FY18 UPDATE New Sales Value 10,269 8,035 9,811 20,080 13,987 New Sales Volume 1.68 1.16 1.43 3.11 2.07 Avg Realization/Sft 6,104 6,934 6,854 6,449 6,745 Total Collections 10,286 7,980 9,665 19,951 20,240 Leasin
Slide 10: Completed Six Projects TDA 12.1 Mnsf
COMPLETED SIX PROJECTS TDA 12.1 MNSF PRESTIGE MYSORE CENTRAL PRESTIGE SALEH AHMED PRESTIGE TMS SQUARE Developable Sl.No Project Completed Segment Area (Mnsf) 1 Prestige Augusta Golf Village Residential 1.36 2 Prestige Lakeside Habitat Residential 8.90 3 Prestige West Woods Residential 1.34 4 Prestig
Slide 11: Launched Two Projects TDA 0.6 Mnsf
LAUNCHED TWO PROJECTS TDA 0.6 MNSF Developable Sl.No Project Launched Location Segment Area (Mnsf) 1 Prestige Cityscape Maradu, Kochi Residential 0.30 2 Prestige Panorama Maradu, Kochi Residential 0.29 Total 0.60 TDA, Total developable area PRESTIGE GROUP | Presentation | September 2018 11
Slide 12: Financial Update
FINANCIAL UPDATE Values are in Million ₹ CONSOLIDATED Particulars Q2FY19 Q2FY18 Q1FY19 H1FY19 H1FY18 Turnover 13,628 11,129 8,927 22,555 24,147 EBIDTA 4,063 3,020 2,876 6,939 6374 EBIDTA % 29.81% 27.14% 32% 30.76% 26% PAT 1022 907 1304 2,326 2,098 PAT % 7.50% 8.15% 14.61% 10.31% 8.69% NOTES During
Slide 13: Financial Update: Consolidated Q2FY19 & H1FY19
Quarter ended Six months ended Year ended FINANCIAL Particulars 30-Sep-18 30-Jun-18 30-Sep-17 30-Sep-18 30-Sep-17 31-Mar-18 UPDATE (I) Revenue Revenue from Operations 13,225 8,613 10,981 21,838 23,777 54,986 Q2FY19 & H1FY19 Other Income 403 314 148 717 370 679 CONSOLIDATED Total Revenue 13,628 8,927
Slide 14: Financial Update: Consolidated Q2FY19 & H1FY19
Quarter ended Six months ended Year ended FINANCIAL Particulars 30-Sep-18 30-Jun-18 30-Sep-17 30-Sep-18 30-Sep-17 31-Mar-18 UPDATE (IV) Exceptional items - 894 - 894 - - Q2FY19 & H1FY19 CONSOLIDATED (V) Profit before tax and after exceptional items (III-IV) 1,434 1,605 1,308 3,039 2,976 6,245 (VI) T
Slide 15: Debt Profile
DEBT VALUE IN ₹ Mn PROFILE Consolidated Particulars Standalone % % Loan * HALF YEAR RESULTS Secured Loan 42,961 100% 82,265 100% CONSOLIDATED a. Project Debt - Resi & Comm 29,443 69% 35,054 43% b. Capex Loans - - - Office Space 1,040 2% 2,099 3% - Retail - 0% 1,274 2% - Hospitality - 0% 8,035 10% c.
Slide 16: Guidance v/s Achieved
GUIDANCE v/s ACHIEVED Value in ₹ Million Volume in Mnsqft HALF YEAR RESULTS Target for Full CONSOLIDATED Particulars Year H1FY19 % New Sales Value 35,000-40,000 20,080 57% Turnover 35,000-40,000 22,703 65% Collections 37,500-40,000 19,951 53% Launch Volume 10 1.60 16% Completions 10 to 12 17.13 171%
Slide 17: Exit Rentals Projection ₹8,624 Mn
₹ 8,624 Mn Rent P.A EXIT RENTALS Sl. No Project Name Segment TLA (Mnsqft) Economic Interest (%) Economic Interest Area Leased PG(Mnsqft) (Annualised) (Rs PROJECTION Mn) 1 Prestige Estates Projects Limited Commercial 1.90 100.00 1.90 1.90 866 2 West Palm Developers Pvt Ltd Commercial 0.32 61.00 0.20
Slide 18: Incremental Rentals in FY19
Economic PG TLA ₹ 1,349 Mn S.No. Project Name Segment TLA Interest (%) (MnSf) Rent P.A. 1 Cessna Business Park B09 Commercial 0.47 85 0.40 361 INCREMENTAL RENTALS IN FY19 2 Cessna Business Park B11 Commercial 0.46 85 0.39 355 3 Prestige Saleh Ahmed Commercial 0.07 50 0.03 43 4 TMS Square -Cochin Com
Slide 19: Under Construction Projects Profile
UNDER CONSTRUCTION PROJECTS PROFILE 2% 7% 2% 1% 7% 13% 10% Ahmedabad Residential GEOGRAPHY Bengaluru 3% SEGMENT Commercial Chennai Retail Hyderabad Hospitality Kochi Mangaluru 78% 77% Developable Area Developable Area Segment No. of Projects (Mnsf) City No. of Projects (Mnsf) Residential 37 41.10 Ah
Slide 20: Upcoming Projects Profile
UPCOMING PROJECTS PROFILE 3% 4% 3% 2% 2% 3% Bengaluru GEOGRAPHY SEGMENT Chennai 12% Goa 37% Residential Hyderabad Commercial Kochi Retail 59% Mangaluru Mumbai Ooty 75% Pune Developable Area Developable City No. of Projects Segment No. of Projects Area (Mnsf) (Mnsf) Bengaluru 23 33.50 Residential 21
Slide 21: Land Bank Details
LAND BANK DETAILS Potential Developable area of 51 mn sft (Prestige Share 41 Mn Land Area Economic PEPL Sl. No Entity Name Location (Acres) Interest Share (Acres) sqft) 1 Prestige Bidadi Holdings Pvt Ltd Bengaluru 143 100% 143 2 Prestige Projects Pvt Ltd Bengaluru 182 60% 109 3 Prestige Estates Proj
Slide 22: Cash Flow Projections from Ongoing Projects
₹68,134 MN CASH FLOW PROJECTIONS Particulars Area In Mn Sft Value in Mn % FROM Total Developable Area 70.18 ONGOING Car Park Area 18.26 PROJECTS Total Saleable Area 51.92 PG area share 39.82 Estimated Value 2,60,683 Sold 29.27 1,81,398 74 Collections 1,46,351 Balance to collect A 35,047 Refundable D
Slide 23: Stock Breakup
Areas in Million Sqft Values in Million ₹ STOCK BREAKUP Category Area Value Premium & Luxury Projects 1.18 13,981 Mid Income Projects 5.70 36,033 Commercial Projects 0.32 2,053 Completed Projects 3.35 27,218 Total 10.55 79,285 PRESTIGE GROUP | Presentation | September 2018 23
Slide 24: Cash Flow Projections from Upcoming Projects
₹29,382 MN CASH FLOW PROJECTIONS FROM Particulars Area in Mn Sft ₹ Mn UPCOMING PROJECTS Total Developable Area 26.32 Car Park Area 6.91 Total Saleable Area 19.42 PG area share 13.58 Estimated Sales Value 91,976 Cost of Development 65,883 Incurred 6,413 RD Paid 3,289 Net Cash flow (A-B) 29,382 PRESTI
Slide 25: Office Portfolio
25 mn sft OFFICE PORTFOLIO H1FY19 HIGHLIGHTS Area in Mn sft Values in Rs Mn OPERATING ONGOING UPCOMING TOTAL GLA 9.65 3.66 11.32 24.63 Economic Interest 8.46 2.62 9.12 20.20 Rentals p.a. ₹ 6,571 3,408 9,343 19,322 Economic Interest ₹ 5,433 2,312 7,227 14,972 PRESTIGE GROUP | Presentation | September
Slide 26: Retail Portfolio
8 OPERATING MALLS 7.3 Mn sft RETAIL PORTFOLIO Area in Mn sft Values in Rs Mn OPERATING ONGOING UPCOMING TOTAL GLA 3.67 2.33 1.30 7.30 Economic Interest 2.57 1.44 0.74 4.74 Rentals p.a. ₹ 3,719 2,956 1,126 7,802 Economic Interest ₹ 2,379 1,334 600 4,313 PRESTIGE GROUP | Presentation | September 2018
Slide 27: Hospitality Portfolio
1559 Keys HOSPITALITY PORTFOLIO Area in Mn sft UNDER Values in Rs Mn OPERATING CONSTRUCTION TOTAL Total Keys 1262 297 1,559 Economic Interest 1123 297 1,420 Total Revenue p.a. ₹ 3261 569 3,830 Economic Interest ₹ 2910 569 3,479 PRESTIGE GROUP | Presentation | September 2018 27
Slide 28: Index
INDEX 1 KEY HIGHLIGHTS a)OPERATIONAL HIGHLIGHTS b)FINANCIAL HIGHLIGHTS 2 OPERATIONAL UPDATE 3 FINANCIAL UPDATE 4 PROJECT PORTFOLIO & UPDATE 5 RECEIVABLES PROFILE 6 ABOUT PRESTIGE GROUP 7 BOARD & MANAGEMENT 8 ANNEXURE PRESTIGE GROUP | Presentation | September 2018 28
Slide 29: Diversified Business Model
DIVERSIFIED BUSINESS MODEL Across Geographies And Price Points RESIDENTIAL COMMERCIAL RETAIL HOSPITALITY SERVICES Sub Leasing Apartments Office Space Malls Resorts & Fit Out Services Built To Suit Interior Design Serviced Apartments Villas Campuses Logistics & Execution Integrated Facilities Hotels
Slide 30: Scale of Operation
SCALE OF OPERATION Delivered 224 Projects, development pipeline to the tune of 148 mn sft Areas are in Million Sqft Plotted Residential Commercial Retail Hospitality Total Development PARTICULARS Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Completed Projects 95 58.78 104 30.59 8 5.50
Slide 31: Shareholding Pattern & Research Coverage
SHAREHOLDING PATTERN & COVERAGE As of 30 September, 2018 Promoters 70% FIIs 27% DIIs 2% Retail 1% RESEARCH COVERAGE 1 Axis Capital Limited 8 ICICI Securities 2 Bank of America Merrill Lynch 9 JM Financial 3 Citigroup 10 J.P. Morgan 4 CLSA 11 Kotak Securities 5 Elara Capital 12 Macquarie 6 Goldman Sa
Slide 32: Awards & Recognitions
AWARDS & RECOGNITIONS MOST TOP INDIAN CERTIFICATE OF 200+ ADMIRED REAL ESTATE EXCELLENCE AWARDS SHOPPING COMPANY CENTER ADMIRED MOST BUILDER OF DEVELOPER BRAND OF PROMISING THE YEAR OF THE YEAR ASIA BRAND PRESTIGE GROUP | Presentation | September 2018 …AND MANY MORE
Slide 33: Board of Directors
BOARD OF DIRECTORS Irfan Razack Rezwan Razack Noaman Razack Uzma Irfan Chairman & Managing Joint Managing Director Wholetime Director Director Director Dr. Pangal Ranganath Nayak Jagdeesh K. Reddy B.G. Koshy Noor Ahmed Jaffer Independent Independent Independent Independent Director Director Director
Slide 34: Executive Management
EXECUTIVE MANAGEMENT Faiz Rezwan Zaid Sadiq Anjum Jung Zayd Noaman Executive Director- Executive Director- Executive Director- Interior Executive Director- CMD’s Contracts & Projects Liasion & Hospitality Design Office Omer Bin Jung Nayeem Noor Zackria Hashim Venkat K Narayan Executive Director- Exe
Slide 35: Executive Management
EXECUTIVE MANAGEMENT Suresh Singaravelu Swaroop Anish Arvind Pai Executive Director- Retail, Executive Director- Business Executive Director- Legal Hospitality & Business Development Expansion V. Gopal V.V.B.S. Sarma Lt. Col. Milan Khurana (Retd.) Executive Director- Chief Financial Officer Executiv
Slide 36: Ongoing Projects: Residential
Developable Area Economic S.No. Residential Project City/State (Mnsft) Interest Prestige Share (Mnsft) 1 Prestige Bagmane Temple Bells Bengaluru 1.73 70% 1.21 2 Prestige Botanique Bengaluru 0.10 55% 0.06 3 Prestige Boulevard Bengaluru 0.24 100% 0.24 ONGOING 4 Prestige Bougainvillea Bengaluru 0.13 60
Slide 37: Ongoing Projects: Office, Retail, Hospitality
Economic S.No. Office Project State/City TDA in Mn Sft Interest TDA in Mn Sft 1 Prestige Technostar Bengaluru 1.68 80% 1.34 ONGOING 2 Prestige Brooklyn Heights Bengaluru 0.01 62% 0.01 PROJECTS 3 Cessna B10 Bengaluru 0.70 85% 0.60 4 Cessna B11 Bengaluru 0.70 85% 0.59 5 Prestige Central Street Bengalu
Slide 38: Upcoming Projects: Residential
Developable Area Economic S.No. Residential Project State/City (Mnsft) Interest Prestige Share (Mnsft) 1 Prestige Elysian Bengaluru 1.13 31% 0.35 2 Prestige Falcon City- Phase II Bengaluru 1.55 36% 0.55 UPCOMING 3 Prestige Finsbury Park Bengaluru 3.79 60% 2.28 PROJECTS 4 Prestige Greenmoor Bengaluru
Slide 39: Upcoming Projects: Office and Retail
Economic S.No. Office Project State/City TDA in Mn Sft Interest TDA in Mn Sft 1 Prestige Alpha Tech Pune 1.17 67% 0.78 2 Prestige Beta Bengaluru 4.07 80% 3.25 UPCOMING 3 Prestige Cosmopolitan Chennai 0.12 100% 0.12 PROJECTS 4 Prestige Cyber Green P2 Kochi 0.62 100% 0.62 5 Prestige Annexe (Leela) Ben
Slide 40: Disclaimer
DISCLAIMER This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which ar
Slide 41: Contact
CONTACT For any queries Please contact, E: [email protected] Registered Office- Prestige Estates Projects Limited, The Falcon House, No. 1, Main Guard Cross Road, Bangalore –560 001, T: +91 -80 –25001 248, F: + 91 –80 -25591945, Website: www.prestigeconstructions.com PRESTIGE GROUP
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