Suraj Estate Developers Limited · NSE:SURAJEST
Suraj Estate Developers — Q1 FY2025 Earnings Presentation
48 slides from Suraj Estate Developers's earnings presentation, Aug 2, 2024
Slide 1: Exchange filing cover letter
August 02,2024 To To National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block Phiroze Jeejeebhoy Towers Bandra-Kurla Complex, Bandra (East) 21* Floor, Dalal Street Mumbai — 400 051 Mumbai - 400 001 NSE Symbol: SURAJEST BSE Scrip Code: 544054 Dear Sir/ Madam, Sub: In
Slide 2: Suraj Estate Developers Limited Investor Presentation August 2024
Suraj Estate Developers Limited Investor Presentation August 2024 1
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Suraj Estate Developers Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitati
Slide 4: Message From The Executive Director
Message From The Executive Director Commenting on the performance for Q1FY25, Mr. Rahul Thomas, Executive Director, Suraj Estate Developers, said, “We are extremely pleased with our operational performance for the quarter. We recorded a pre-sales value of Rs 140crs, which was a 5.2% increase Y-o-Y.
Slide 5: Q1FY25 Financial and Operational Highlights
Q1FY25 Financial and Operational Highlights
Slide 6: Q1FY25 Operational Performance
Q1FY25 Operational Performance - 1 Sales Area (Sq Ft) Sales Value (Rs cr) 133 140 29,489 27,431 122 Operational Performance: 22,713 • Pre-sales saw a growth of 5.2% y-o -y to Rs 140 crs for Q1FY25 vs Rs 133crs for Q1FY24, on account of increased Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 realizations
Slide 7: Q1FY25 Financial Performance
Q1FY25 Financial Performance - 2 Total Income (Rs cr) EBITDA (Rs cr) EBITDA MARGINS (%) 134.6 64.2 55 56.2 46 48 102.8 103.0 47.1 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 PAT (Rs Cr) EPS (Rs/Share) Borrowings (Rs cr) 30.1 7.0 599 572 19.5 4.6 4.4 426 421 352 14.5 315 Q1FY24 Q4F
Slide 8: Q1FY25 Business Update
Q1FY25 Business Update Q1FY25 Business Updates: • During Q1FY25, company’s wholly owned subsidiary Iconic Property Developers Private Limited received building plan approval and commencement certificate in respect of proposed commercial project situated at Mahim (west) having sale carpet area of 1.0
Slide 9: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement In Rs Crs Particulars Q1FY25 Q1FY24 Y-o-Y (%) Q4FY24 Q-o-Q (%) FY24 Revenue from operations 133.7 102.4 100.4 412.2 Other income 1.0 0.4 2.7 3.5 Total income 134.6 102.8 30.9% 103.0 30.7% 415.7 Expenses Operating and project expenses 104.0 28.0 79.0 222.0 Changes
Slide 10: Listed on the Stock Exchanges on 26th December 2023
Suraj Estate Developers Limited was listed on the Stock Exchanges on 26th December,2023
Slide 11: Utilisation Of Net IPO Proceeds
Utilisation Of Net IPO Proceeds Objects of the Issue as per Utilization upto June Balance Unutilized Proceeds of IPO (Rs cr) prospectus 30,2024 (Rs cr) amount (Rs cr) Repayment / prepayment of aggregate outstanding 285 285 - borrowings of the Company and IPO Proceeds Subsidiaries Rs 400 Crs Acquisit
Slide 12: Leading Real Estate Developer in South Central Mumbai
‘Suraj’- Leading Real Estate Developer in South Central Mumbai (SCM) 1+ Million sq.ft. constructed in prime locations in the South-Central Mumbai 42 18 Upcoming Projects Completed projects across residential & commercial segments 37 Years of experience in the real estate market of South-Central Mumb
Slide 13: One of the Market Leaders in Redevelopment Projects in SCM
One of the Market Leaders in Redevelopment Projects in SCM* Sub-markets of South ONE OF THE MARKET LEADERS IN REDEVELOPMENT Central Mumbai (SCM) Value Luxury 1 BHK and compact 2 Mahim BHK flats 263 Projects Launched in SCM sub-markets Matunga Dadar Luxury 160 (~61%) 103 (~39) 2/3/4 BHK flats Redevel
Slide 14: Redevelopment Expertise
Redevelopment Expertise Step 0 Timelines Identification Of Land Bank (Plot Size, Title, Location, Tenant Density& FSI Scheme) Step 1 Zero Date Acquisition of land by way of Conveyance / Development Rights / JDA Step 2 4-6 Months Obtaining 51% consent of tenants for redevelopment Step 3 3 Months Obta
Slide 15: SCM: A Lucrative Micro Market In Mumbai
SCM : A Lucrative Micro Market In Mumbai Dynamics of SCM Market Large pool of old/dilapidated buildings Close proximity to key locations such as BKC, Worli sea link, Lower Parel, etc One of the few locations which allows residential + commercial projects to be constructed 18 Improving infrastructure
Slide 16: Our Journey Spanning Over 37 Years
Our Journey Spanning Over 37 Years 1986 1990 1992 2000 2005 Incorporated as a private Completed maiden Delivered a building at Delivered ‘ICICI Apartments’ at Delivered 14 residential limited company residential project at Dadar (W) to a public Dadar (W) as office quarters apartments in Dadar (W) to
Slide 17: Proven Track Record Of Delivering Residential And Commercial Projects
Proven Track Record Of Delivering Residential And Commercial Projects Timeline of completed projects Residential and Commercial Projects 9 2,40,412 8 2,04,957 6 1,85,649 1,59,720 1,65,418 8 7 90,386 4 1990-1995 1996-2000 2001-2005 2006-2010 2011-2015 2016-2023 Developed areas Consultant and Contract
Slide 18: Comparison Of Various Business Models In MMR Region
Comparison Of Various Business Models In MMR Region Redevelopment of Tenanted Properties Redevelopment of Society Vacant Land- Normal Parameters (Conveyance/ DA) Under DCPR 33(7) Under DCPR 33(7) B Development Land Status Conveyance / DA DA Conveyance / JDA Upfront Capital Requirement Moderate Low H
Slide 19: Competitive Strengths
COMPETITIVE STRENGTHS
Slide 20: Competitive Strengths
Competitive Strengths Diversified Portfolio Across Value Marketing & Sales Strategy Luxury And Luxury Segments High Engagement Levels Through The Customer Present Across Price Points, Unit Lifecycle Create Network Effect Sizes And Sub-Markets In The SCM Experienced Board Of Directors With A Proficie
Slide 21: Established Residential Real Estate Brand in SCM
Established Residential Real Estate Brand in SCM Leading Market Position & Ability To Sell During Construction Phase 60% Ongoing Residential Projects 16% 13% 11% Project Sale In terms of supply of Developa Carpet Area Unsold Sales Avg Collection % of Sr. Project Sold Area Realisat units 1#1st ble Ar
Slide 22: Diversified Portfolio Across Value Luxury And Luxury Segments (1/2)
Diversified Portfolio Across Value Luxury And Luxury Segments (1/2) Present Across Price Points, Unit Sizes And Sub-Markets In The SCM Ongoing Projects Upcoming Projects Carpet Area For Sale* Estimated Carpet Area For Sale** Total Total 7% 6,09,928 9,01,307 sq.ft. 12% sq.ft. 19% 36% 7% 14% 39% 67% C
Slide 23: Diversified Portfolio Across Value Luxury And Luxury Segments (2/2)
Diversified Portfolio Across Value Luxury And Luxury Segments (2/2) Ongoing Projects : Presence across unit sizes and price points No. of offerings 12 Value Luxury Luxury Ticket Size : INR 10-30 mn Ticket Size : INR 30-13 mn 6 4 4 3 2 1 1 300-400 400-500 500-650 650-800 800-950 1000-1300 1300-1500 1
Slide 24: Strong Expertise In Tenant Settlement In Redevelopment Projects
Strong Expertise In Tenant Settlement In Redevelopment Projects Strong Track Record Of Tenant Settlement Redeveloped houses for 1,011 tenants free-of-cost Preferred Redevelopment Developer Freed up considerable FSI for commercial development As most land parcels in SCM are in the nature of redevelop
Slide 25: Marketing & Sales Strategies
Marketing & Sales Strategies High Engagement Levels Through The Customer Lifecycle Create Network Effect Marketing Team Sourcing Team Customer Centric Approach › Identifies target market groups › Interacts with channel Continuous customer engagement during and uses promotional tools to partners to d
Slide 26: Market Opportunity (1/2)
Market Opportunity (1/2) MMR is the top performer* in overall residential real estate activity Supply Absorption MMR CAGR in value terms over a 35% 30% Others 10% longer term 65% 70% New launches in 2024 are likely to be almost 2 times as compared to (No of units) MMR Others 2X 2021 levels and are e
Slide 27: Market Opportunity (2/2)
Market Opportunity (2/2) Redevelopment is a large, ongoing opportunity in SCM SCM is an attractive real estate market o High income, discerning customer base 52,000 19,642 16,502 o Aspirational value/premium product positioning units o High demand across multiple segments and price points Supply fro
Slide 28: Experienced Board Of Directors
Experienced Board Of Directors… Rajan Meenathakonil Thomas Sujatha R. Thomas Rahul Rajan Jesu Thomas PROMOTER , CHAIRPERSON & MD NON-EXECUTIVE DIRECTOR WHOLE - TIME DIRECTOR Education: B.A. Education: B.A. Education: B.Com, Corporate Finance certificate from Harvard University Experience : 37 Years
Slide 29: Senior Key Managerial Personnel
Senior Key Managerial Personnel Shreepal Shah Gopal Barve Anand Vyas Mohit Ramsinghani CHIEF FINANCIAL OFFICER CHIEF ENGINEER OF SUBSIDIARY OF VICE PRESIDENT - SALES CHIEF BUSINESS AND STARTEGY THE COMPANY, ACCORD ESTATES OFFICER PRIVATE LIMITED Education: Doctorate in strategy, Management Graduate
Slide 30: Key Business Strategies
ea KEY BUSINESS STRATEGIES |
Slide 31: Key Business Strategies
Key Business Strategies 1. Enhance Market Leading Position in SCM 3. Expand Land Reserves in SCM and Other MMR 5. Continue to focus on redevelopment projects Sub-markets through asset light model Upcoming projects to consolidate our positioning in SCM and expand in to Bandra sub-market o Follow flex
Slide 32: Awards
Awards Developer of the Year Developer of the Year Brand of the Year 2020 2022 2022 By CNN- News 18 By CNBC Awaaz By CNBC-Awaaz LifeTime Achievement Developer of the Year Iconic Developer of Award to Mr Rajan Residential 2022 the Year 2022 Thomas By Business Standard By Mid –Day By ET NOW Promising
Slide 33: Historical Financials
HISTORICAL FINANCIALS \ VS CO". ececqqnneneensc es i I eS
Slide 34: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Rs Crs. Particulars FY24 FY23 FY22 FY21 Revenue from operations 412.2 305.7 272.7 240 Other income 3.5 2.1 1.2 4 Total income 415.7 307.9 273.9 244 Expenses Operating and project expenses 222.0 166 180.7 164.2 Changes in inventories of construction work in progre
Slide 35: Consolidated Balance Sheet
Consolidated Balance Sheet Rs Crs. Particulars Mar-24 Mar-23 Mar-22 Mar-21 Particulars Mar-24 Mar-23 Mar-22 Mar-21 ASSETS EQUITY AND LIABILITIES Equity Non-current assets a) Equity share capital 21.4 15.9 15.9 6.4 a) Property, plant and equipment 22.5 3.4 3.8 4.9 b) Other equity - Other reserves 511
Slide 36: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Rs Crs. Particulars FY24 FY23 FY22 FY21 CASH FLOW FROM OPERATING ACTIVITIES Profit before taxes 93.9 43.2 36.2 9.0 Adjustments for Interest expenses/income, depreciation 142.3 106.7 93.8 80.3 Operating profit / (loss) before working capital changes 236.1 149.9 130.0
Slide 37: Annexures
ANNEXURES
Slide 38: Ongoing Residential Projects
Ongoing Residential Projects The Palette Ocean Star-I Vitalis Emmanuel Suraj Eterna • This project is in Luxury • This project is in the Value • This project is in the Luxury • This project is in the Value • This project is in the Value Segment and comprises of 2 Luxury Segment. It is a 20- Segment
Slide 39: Ongoing Residential Projects
Ongoing Residential Projects Nirvana Louisandra Ave Maria Park View Suraj Lumina • A value luxury/luxury • A Value luxury standalone • A 24-storey value luxury • A value luxury project with • The project comprises of both project with Top-of-the-line tower with compact units of residential tower in
Slide 40: Summary Of Ongoing Projects
Summary Of Ongoing Projects Particulars Remarks Particulars Remarks Area Sold (Lakh Sq Ft) 5.17 Total Unsold Area (Lakh Sq Ft) 0.93 Average Realisation 39,303.72 Achieved (Rs per sq ft) Average Estimated Realisation Of Unsold Area (Rs Per Sq Ft) 53,560.82 Collections Received (Rs 1,243.08 Cr) Balanc
Slide 41: Completion Targets For Ongoing Projects
Completion Targets For Ongoing Projects GDV of Rs 500 cr from unsold area of ongoing projects Eterna Park View Balance receivables of Rs 1,287 cr to flow from FY25-FY29E from area sold and balance unsold area FY29 FY26 Vitalis Ocean Star Suraj Emmanuel FY27 Suraj Lumina Ave Maria Louisandra Nirvana
Slide 42: Ongoing Projects
Ongoing Projects Completion Project Sale Carpet Sales Avg Collections Sr. Date (As Developable Area Sold Unsold Area Project Name Location Type Status Area (lakhs Sq Achieved (Rs Realisation Received (Rs No. Filed with Area (lakhs Sq (lakhs Sq ft) (Lakhs Sq ft) ft) cr) (Rs cr) cr) RERA) ft) 1 Louisa
Slide 43: Strong Project Pipeline and Cash Flow Trends
Strong Project Pipeline and Cash Flow Trends Sr. No. Project Name Location Type Segment Estimated Carpet Area for sale* (lakh sq.ft) 1 Suraj Vibe (Final Plot No 426-B) Mahim (W) Commercial Commercial 1.06 2 Suraj Parkview 1 Dadar (W) Residential Value Luxury 0.53 3 Kowliwadi & Kripasiddhi Building P
Slide 44: Land Reserves
Land Reserves Plot Area Name of Company’s /Entity’s Leased/ company/entity that is Sr. No. Location effective stake in the Owned/Developmen the developer of the project (%) t Rights project Square Meters 1 C.T.S.No.918 Mount Mary, Hill Road, Bandra (W) Accord Estates Pvt. Ltd. 100 Leasehold Rights 1
Slide 45: Completed Projects
Completed Projects Company's / respective Occupation certificate for all Name of company/entity that is entity's Developed Area Type and Date of Occupation floors Sr. No Project Name Location the developer of the project stake in configuration certificate project (square (%) (square feet) Yes/ No me
Slide 46: Completed Projects
Completed Projects Name of Company's / Occupation certificate for all company/entity that is respective entity's Developed Area Date of Occupation floors Sr. No Project Name Location Type and configuration the developer of the stake in project certificate project (square (%) (square feet) Yes/ No me
Slide 47: Completed Projects
Completed Projects Company's / Name of company/entity Occupation certificate for all respective entity's Developed Area that is the developer of Date of Occupation floors Sr. No Project Name Location Type and configuration stake in project the project certificate (square (%) (square feet) Yes/ No me
Slide 48: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Suraj Estate Developers Limited Strategic Growth Advisors Pvt. Ltd. CIN - L15142DL1974PLC007349 CIN - U74140MH2010PTC204285 Mr. Ashish Samal Mr. Rahul Agarwal GM – Investor Relations rahul.agarwal@sgapl.net ashish.samal@
Suraj Estate Developers — Q1 FY2025 Earnings Presentation on 6ix