Keystone Realtors Ltd. · NSE:RUSTOMJEE
Keystone Realtors — Q3 FY2024 Earnings Presentation
38 slides from Keystone Realtors's earnings presentation, Jan 30, 2024
Slide 1: Exchange filing cover letter: Investor Presentation
Date: January 30, 2024 The General Manager, The Vice President Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, “Exchange Planza”, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra East, Mumbai – 400 051 Scrip Code: 54
Slide 2: Quarterly Update
Quarterly Update K e ys t o n e R e a l t o r s L i m i t e d
Slide 3: Table of Contents
Table of Contents 01 Company Overview 02 Performance Highlights Know more about the 03 www.rust o m je e. c o m Management Structure
Slide 4: Company Overview
Company Overview A Snapshot 04 Our Journey over Two Decades 07 Our Ecosystem 08 Technology in Planning, Execution, Sales & Marketing 09 Ongoing Projects 10 Forthcoming Projects 11 Growth Drivers 13 3 // Quarterly Update Q3 FY-24 Keystone Realtors Limited
Slide 5: A Snapshot
Company Overview Recent Accolades and A Snapshot Performance Highlights Management Structure Industry recognition awards 2024 RUSTOMJEE - Leading Developer in MMR India’s Top Builders Category S.W.O.T. CWAB Awards Green Crusader Award Bhamla Foundation Integrated Township of the year - Rustomjee Upt
Slide 6: A Snapshot (Contd.)
Company Overview A Snapshot (Contd.) Performance Highlights Management Structure 23+ Million Capabilities Sq. Ft. delivered and Experience Prominent MMR Real Estate developer with Capability and experience in developing 23+ Million Sq. Ft. delivered and a pipeline standalone buildings, gated communi
Slide 7: A Snapshot (Contd.)
Company Overview A Snapshot (Contd.) Performance Highlights Management Structure End to End Project Sustainable Management Development Capabilities Strong focus on sustainability in all our developments End-to-end project capabilities with in-house expertise across Business Development, Architecture
Slide 8: Our Journey over Two Decades
Company Overview Our Journey over Two Decades Performance Highlights Management Structure Launched • Acquired first • Launched the • Completed 1st • Completed 5 • Completed 10 • Completed • Sales launch • Sales launch • Sales launch Rustomjee redevelopment township tower phase of Urbania msf+ of msf
Slide 9: Our Ecosystem
Company Overview Our Ecosystem Performance Highlights Management Structure Mt. K Kapital Rustomjee Cambridge Rustomjee Academy CREST – Property Category II - AIF International School for Global Careers Management Services • A real estate focused fund • Leading IGCSE school in Mumbai • Rustomjee Acad
Slide 10: Technology in Planning, Execution, Sales & Marketing
Company Overview Technology in Planning, Execution, Sales & Marketing Performance Highlights Management Structure Project planning Sales & Customer Recent & Execution Experience Developments • Combined implementation • Helps better understand • Automated and transparent of ERP and BIM systems custom
Slide 11: Ongoing Projects
1 Company Overview Virar Ongoing Projects Performance Highlights Management Structure Townships 1. Global City, Virar (W) (Affordable) 2. La Vie, La Familia - Urbania, Thane (W)* (Mid and Mass) 2 Borivali Thane Residential Projects 11 3. Crown- B & C, Prabhadevi (Super Premium/Premium) 04 4. Bella,
Slide 12: Forthcoming Projects
1 Company Overview 20 V i r a r Forthcoming Projects Performance Highlights Management Structure Townships Commercial 25 1. Global City, Virar (W) (Affordable) 17. Urbania Commercial 2. Urbania, Thane (W)* (Mid and Mass) 18. OB12 + 13, Bandra (E) 23 3 17 Residential Projects Plotted Development 19 B
Slide 13: Strong residential project pipeline in place for future growth
Company Overview Strong residential project pipeline Performance Highlights Management Structure 11 Ongoing 25 Forthcoming in place for future growth ~4.81 msf saleable ~25.5 msf saleable Ongoing Projects Forthcoming Projects 11 25 projects projects Super Premium/Premium 3 Super Premium/Premium 5 Ca
Slide 14: Growth Drivers
Company Overview Growth Drivers Performance Highlights Management Structure Continue to build an asset light business model Leverage our leadership position in the redevelopment space and micro markets that we operate in Grow our presence in the mid/mass and aspirational category Focus on growth are
Slide 15: Performance Highlights
Performance Highlights Performance Snapshot (For the quarter) 15 Operational Highlights 16 Completed projects 17 Ongoing projects 18 Forthcoming Projects 19 Category wise Performance 20 Historical Operational Performance (Last 5Q) 22 New Launches (YTD) 23 New Projects Addition (YTD) 24 Projects Addi
Slide 16: Performance Snapshot (Q3 FY-24)
Company Overview Performance Highlights Performance Management Structure Snapshot (Q3 FY-24) Area Sold Pre-Sales Value Collections 0.37 Mn Sq.Ft. ₹ 6.16 Bn ₹ 4.52 Bn Projects Completed – 6 (YTD) Projects Added – 1 OCF 3.36 Mn Sq.Ft. ₹ 14.53Bn GDV ₹ 0.95 Bn Revenue EBITDA PAT ₹ 5.20 Bn ₹ 0.21 Bn ₹ 0.
Slide 17: Operational Highlights
Operational Highlights PARTICULARS Q3 FY24 Q2 FY24 QoQ YTD FY24 YTD FY23 YoY FY 23 Growth Growth (%) (%) Area Sold (Mn Sq. Ft.) 0.37 0.16 132% 0.82 0.75 9% 1.03 Pre-Sales Value (₹ Bn) 6.16 3.06 101% 14.23 11.31 26% 16.04 Collection (₹ Bn) 4.52 5.85 -23% 15.33 11.63 32% 18.62 Pre-Sales Collections La
Slide 18: Completed Projects as on 31st December 2023
Company Overview Performance Highlights Completed Projects as on 31st December 2023 Management Structure SR. NAME OF PROJECT TOTAL UNSOLD SOLD EST UNSOLD COST NO. SALEABLE AREA SALEABLE AREA RECEIVABLE INVENTORY TO COMPLETE * (MN SQ FT) (MN SQ FT) (INR BN) (INR BN) (INR BN) 01 Seasons Wing D 0.34 0.
Slide 19: Ongoing Projects as on 31st December 2023
Company Overview Performance Highlights Ongoing Projects as on 31st December 2023 Management Structure CATEGORY NO. OF TOTAL UNSOLD SOLD EST UNSOLD COST PROJECTS SALEABLE AREA SALEABLE AREA RECEIVABLE INVENTORY TO COMPLETE * (MN SQ FT) (MN SQ FT) (INR BN) (INR BN) (INR BN) Residential (A) 10 4.66 1.
Slide 20: Forthcoming Projects as on 31st December 2023
Company Overview Performance Highlights Forthcoming Projects as on 31st December 2023 Management Structure CATEGORY NO. OF SALEABLE AREA EST. GDV COST TO PROJECTS (MN SQ FT) (₹ BN) COMPLETE* (₹ BN) Residential (A) 22 20.53 315.49 189.99 Super Premium/Premium 5 0.91 46.39 25.43 Aspirational 5 1.53 46
Slide 21: Category-wise Performance for Q3 & YTD FY-24 (Pre-Sales)
Company Overview Performance Highlights Category-wise Performance for Q3 & YTD FY-24 Management Structure CATEGORY PRE-SALES (₹ BN) PRE-SALES (₹ BN) Q3 FY-24 Q3 FY-23 % CHANGE YTD FY-24 YTD FY-23 % CHANGE Super premium / Premium 1.51 1.42 6% 3.88 2.63 48% Aspirational 1.21 0.32 283% 2.22 1.39 60% Mi
Slide 22: Category-wise Performance for Q3 & YTD FY-24 (Collections)
Company Overview Performance Highlights Category-wise Performance for Q3 & YTD FY-24 Management Structure CATEGORY COLLECTIONS (₹ BN) COLLECTIONS (₹ BN) Q3 FY-24 Q3 FY-23 % CHANGE YTD FY-24 YTD FY-23 % CHANGE Super premium / Premium 1.25 1.26 -1% 4.74 3.85 23% Aspirational 0.79 0.75 5% 2.62 2.73 -4%
Slide 23: Historical Operational Performance (Last 5 Quarters)
Company Overview Performance Highlights Historical Operational Performance (Last 5 Quarters) Management Structure Pre-Sales Area Sold Pre-Sales Collections (NO. OF UNITS) (MN SQ.FT.) (₹ BN) (₹ BN) 0.37 6.16 6.99 340 0.29 5.02 5.85 0.28 269 263 0.27 4.73 260 4.33 4.95 4.52 4.16 3.06 0.16 151 Q3FY23 Q
Slide 24: New Launches in YTD Dec-23
Company Overview Performance Highlights New Launches in YTD Dec-23 Management Structure PROJECT NAME LAUNCH LOCATION CATEGORY NATURE OF RERA SALEABLE EST GDV QUARTER DEVELOPMENT COMPLETION AREA (₹ BN) DATES (MN SQ. FT) Rustomjee Cleon Q1 FY 24 Bandra E M id & M ass R edevelop m ent Jun-27 0.06 1.31
Slide 25: New Project Additions in YTD Dec-23
Company Overview Performance Highlights New Project Additions in YTD Dec-23 Management Structure PROJECT NAME QUARTER OF LOCATION CATEGORY NATURE OF SALEABLE EST GDV CURRENT STATUS ACQUISITION DEVELOPMENT AREA (₹ BN) (MN SQ. FT) Dhuruvadi Q1 FY 24 Prabhadevi Aspirational Re-development Term Sheet ex
Slide 26: Project Additions during last few quarters
Company Overview Project Additions during last few quarters Performance Highlights Management Structure Jan 24* • Vivekanand CHSL, Bandra E (GDV: ₹2.2 • 3 projects (GDV: bn) ₹20.00 bn) Q3 FY24 • Kher Nagar 31, • Haren Textiles Bandra E (GDV: ₹2.8 • Jariwala, Dahisar E (GDV: bn) Mahim (GDV: ₹ Q2 FY24
Slide 27: Projects Completed in YTD Dec-23
Company Overview Performance Highlights Projects Completed in YTD Dec-23 Management Structure PROJECT NAME COMPLETION QUARTER LOCATION CONSTRUCTION AREA (MN SQ. FT) Crown Tower A* Q2 FY 24 Prabhadevi 1.78 Urbania Wing D & Urbania Wing L ( Azziano) Q2 FY 24 Thane W 0.89 Summit* Q2 FY 24 Borivali E 0.
Slide 28: Cash Flows
Company Overview Performance Highlights Cash Flows Management Structure PARTICULARS (₹ Mn) Q3 FY-24 Q2 FY-24 Q3 FY-23 YTD FY-24 YTD FY-23 FY 22-23 Operating Activities Net Collections 3,025 2,983 2,621 8,249 7,415 10,839 Receipts from DM / JV Projects 261 18 80 600 100 152 Construction Cost (1,579)
Slide 29: Financial Summary – Profit & Loss
Company Overview Performance Highlights Financial Summary – Profit & Loss Management Structure CONSOLIDATED RESULTS (₹ Mn) Q3 FY-24 Q2 FY-24 Q3 FY-23 YTD FY-24 YTD FY-23 FY 22-23 Revenue from Ops 5207 6,180 1,265 14,107 3,413 6,857 Other Income 126 153 90 388 260 392 Total Income 5,333 6,333 1,356 1
Slide 30: Financial Summary – Debt Movement
Company Overview Performance Highlights Financial Summary – Debt Movement Management Structure DEBT MOVEMENT (₹ MN) Q3 FY-24 Q2 FY-24 Gross Debt 8,887 3,481 Less: Cash and Cash Equivalents 4,307 4,830 Net Debt 4,580 (1,348) Equity 17,652 17,314 Gross Debt to Equity Ratio 0.50 0.20 Net Debt to Equity
Slide 31: ESG (Environmental, Social and Governance)
Company Overview Performance Highlights ESG (Environmental, Social and Governance) Management Structure Environmental Social Governance Initiatives Initiatives • E-waste and Hazardous waste • Awarded A+ Grade by the Policies Implemented: management have been complied Government of Maharashtra and ti
Slide 32: Management Structure
Management Structure Experienced Promoters and Directors 32 Supported by a Professional Management Team 33 Shareholding Pattern at the End of Quarter 34 Completed Projects 35 31 // Quarterly Update Q3 FY-24 Keystone Realtors Limited
Slide 33: Experienced Promoters and Directors
Company Overview Performance Highlights Management Structure Experienced Promoters and Directors Boman Irani Chandresh Mehta Percy Chowdhry CMD EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR • 27+ years of Real Estate experience • 27+ years of Real Estate Experience • 24+ years of Real Estate Experience • Pr
Slide 34: Supported by a Professional Management Team
Company Overview Performance Highlights Management Structure Supported by a Professional Management Team Sajal Gupta Bimal Nanda Venkatraman B. (GROUP CFO & HEAD (GROUP CS AND (TECHNICAL ADVISOR TO Rakesh Setia CORPORATE STRATEGY) C O MP L I A N C E O F F I C E R ) TH E B O A R D ) ( C H I E F SA LE
Slide 35: Shareholding Pattern as on 31st Dec'23
Company Overview Performance Highlights Management Structure Shareholding Pattern as on 31st Dec‘23 FPIs Abu Dhabi Investment Authority Monsoon Morgan Stanley India Societe Generale Tata Indian Opportunities Fund Mutual Funds Tata Mutual Fund Quant Mutual Fund AIF HDFC Capital Promoter 86.70% FPI 2.
Slide 36: Completed Projects
2 Company Overview 1 Performance Highlights Management Structure Virar Completed Projects 12 Townships Residential Projects 29 1. Global City, Virar (W) Phase 1 (Contd.) 2. Global City, Virar (W) Phase 2 19. 9 JVPD, Juhu 6 3 3. Urbania, Thane (W) 20. Central Park, Andheri (E) 26 7 Borivali Thane 21.
Slide 37: Disclaimer
Disclaimer Some of the statements in this presentation may be ‘forward- looking statements’ within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company’s operations include chan
Slide 38: Thank You
Thank You KEYSTONE REALTORS LIMITED 702, Natraj, M.V. Road Junction, Western Express Highway, Andheri East, Mumbai – 400 069 Website: www.rustomjee.com INVESTOR RELATIONS CONTACT Email: investor-relations@rustomjee.com Tel: 022 – 667 66 888