Dlf Limited · NSE:DLF
Dlf — Q1 FY2012 Earnings Presentation
16 slides from Dlf's earnings presentation, Aug 2, 2011
Slide 1: Q1 FY12 Analyst Presentation
Q1 FY12 Analyst Presentation August 2nd, 2011 1
Slide 2: Safe Harbour
SAFE HARBOUR This presentation contains certain forward looking statements concerning DLF’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The
Slide 3: Q1 FY 12…a cautious start
Q1 FY 12…a cautious start The economic environment continues to be subdued with the 11th rate hike by the Reserve Bank since March 2010; inflation yet to show any significant signs of subsiding. Concerns on inflation, prospects of a lower GDP growth and global macro factors continue. Demand show
Slide 4: Performance of Company – Q1 FY12
Performance of Company – Q1 FY12 DevCo: 2.2 msf gross sales booked vs 3.80 msf in Q4 11 & 1.90 msf in Q1 11 Sec – 91 / 92, Gurgaon - Plotted development – 1.1 msf Indore Plotted development – 0.2 msf New Gurgaon, Chennai, Bangalore and Panchkula mid-income homes – 0.9 msf RentCo : 0.73
Slide 5: Company Strategy
Company Strategy Continue with the strategy of launching plotted developments Less construction intensive and hence lower inflationary risks Accelerated cash flows and robust profitability margins Demand remains buoyant for such products despite economic environment. Non-core asset monetiz
Slide 6: Debt Position – Q1 FY 12
Debt Position – Q1 FY 12 All figures in Rs. Crs Debt Pref Cap. Consol. Gross Opening Bal ( as on 1st April-11 ) 23,990 202 24,192 Less / Add : Repaid during Q1-12 (781) (775) : New loan availed 667 668 : Debt Increase due to Consolidation (13) (24) Gross Debt position ( as on 30th June-11 ) 23,863 2
Slide 7: Profit & Loss Summary – Q1 FY12
Profit & Loss Summary – Q1 FY12 Q1 FY 12 vs Q4 FY 11 Sales (incl Other Income) at Rs 2,503 Cr, compared to Rs 2,870 Cr. Net profit at Rs 358 Cr, as against Rs 345 Cr ( which includes Rs 93 crs of prior period ) EBIDTA margins at 47% versus 29% Tax Rate for the Qtr is 25% All figures in Rs. C
Slide 8: Consolidated P&L – Q1 FY12
Consolidated P&L – Q1 FY12 Q1 FY12 (Reviewed) Q1 FY11 (reviewed) Q4 FY11 (Audited) Year ended FY11 Percentage Percentage of Percentage of Percentage of Sl.No. Consolidated Financials Rs. Crs. Rs. Crs. Rs. Crs. Rs. Crs. of Total Total Revenue Total Revenue Total Revenue Revenue A) 1 Sales and Other R
Slide 9: Consolidated Balance Sheet – Q1 FY12
Consolidated Balance Sheet – Q1 FY12 (Rs. In Crore s) As at Pa rticula rs Schedule 30-Jun-11 30-Jun-10 31-Mar-11 (Unaudited) (Unaudited) (Audited) SOURCES OF FUNDS Sha re holde rs' funds Capital 1 2,150 3,361 2,150 Reserves and surplus 2 24,510 23,736 24,182 26,659 27,096 26,332 Minority Interests 5
Slide 10: Consolidated Cashflow – Q1 FY12
Consolidated Cashflow – Q1 FY12 Rs . In crore s Pe riod e nde d Particulars 30-Jun-11 31-Mar-11 30-Jun-10 A. Cas h flow from ope rating activitie s : Net profit before tax 502 2,000 573 Adjus tme nts for: Depreciation 170 631 150 Loss/(profit) on sale of fixed assets, net 1 (66) 1 Provision for doub
Slide 11: Execution
Execution Project Under Construction (msf) Area in msf Region Q1 12 Q4 11 Q1 11 Gurgaon 21.5 21 21 55 Super Metro 7 7 5 53 52 Rest of India 10.5 10 12 For Rent Co 13 15 16 Q1 12 Q4 11 Q1 11 Ongoing Construction 52 53 55 Project Under Const. ( msf ) Deliveries of approx . 1.9 msf in Offices during
Slide 12: Dev Co.
Dev Co. Homes Q1-FY 12 witnessed sales of 2.2 msf, comprising 1.1 msf of new launch of Sec 91 / 92, Gurgaon and 1.1 msf from existing stock New launches in Q1 low as approvals are awaited . In line with Co’s strategy of launching only upon receiving full & final approvals Successful launch of
Slide 13: DevCo Q1 FY12
DevCo Q1 FY12 Total Mn sqft Particulars Under Construction (msf) Q1-12 Q4- 11 Q1 - 11 50 Sales Status Opening Balance 46.40 44.80 38.85 40 Add:- Sale Booked During the Qty 2.25 3.80 1.90 30 39 Less : Handed over / Suspended - 2.19 0.51 39 20 Closing Balance 48.65 46.40 40.24 10 Q4' 11 Q1' 12 Under C
Slide 14: RentCo Q1 FY12
RentCo Q1 FY12 Total Mn sqft Particulars Under Construction (Annuity) ( Msf) Q1-12 Q4- 11 Q1 - 11 20 Q4 Q1 Lease Status 18 Opening Balance 23.77 23.73 19.40 16 Add:- Lease Booked During the Qty 0.97 1.38 1.17 Less :- Cancellation / Adjustment (0.24) (1.34) (0.18) 14 Closing Balance 24.51 23.77 20.38
Slide 15: Our Development Potential
Our Development Potential Area ( msf ) Other Land Hotel Land G.Total Gross Area – as on 1st April-11 359 8 367 Less : Projects Disposed off ( Net ) 2 0 2 Less : Handed over 2 - 2 Net Land Bank - as on 30th June-11 355 8 363 - Dev. Co 285 8 363 - Rent. Co 70 Notes 1. High potential & short / medium d
Slide 16: Thank You
Thank You 16