Dlf Limited · NSE:DLF
Dlf — Q4 FY2015 Earnings Presentation
24 slides from Dlf's earnings presentation, May 20, 2015
Slide 1: Q4 & FY15 Analyst Presentation
Q4 & FY15 Analyst Presentation May 20, 2015 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: Performance Scorecard
Performance Scorecard Sl. No. Target Achieved YTD FY15 I. Sales Volume "DLF 5" 1.5 msf/ yr 1.23 msf New Gurgaon 2.5 msf/yr 0.08 msf National Devco 3.5 msf/yr 0.94 msf II. Leasing Office 1-1.5 msf 1.46 msf Malls III. Completion 13.46 msf IV. Net Debt 18525 crs ( +/- 1000) 20965 crs Rentco (attributab
Slide 4: Sector Specific Developments / Outlook
Sector Specific Developments / Outlook.. Central Government’s initiative to move ahead with the economic agenda has been visible. During last few months, specifically to the real estate sector - Government provides requisite clarity on MAT to facilitate creation of REITs Allow Provident Funds
Slide 5: Legal Update
Legal Update… SEBI Order: SEBI order of banning the Company for 3 years was over turned by SAT. Subsequently, SEBI appealed in the Supreme Court, however the Hon’ble Supreme Court refused to grant any interim relief and issued notices. No date has been fixed for the next hearing. CCI : YTD,
Slide 6: Committed to our Strategy And Goals
Committed to our Strategy And Goals …. With the advent of REITs, the Company can move forward to achieve its medium term goals as articulated in February 2013. DLF envisaged setting up of REITs at the time of the IPO, like any other global real estate company. It could be a game changer as it will
Slide 7: RentCo Business – A Strategic Review
RentCo Business – A Strategic Review The Company is on target to achieve an annuity income of Rs. 2,400 crs & steady state Run Rate Rs 2,700 crs (approx) on an asset base of 30msf (approx) by end of FY16. As REITs have become an imminent possibility in the near term, the Board had appointed a Co
Slide 8: Current Outlook
Current Outlook … Sales Shall take atleast 12 months for the sales momentum to begin improving; the key factor would be in general, reduced interest rates and GDP growth and, in specific, demand/supply conditions in micro markets Sales volume in most geographies shall continue at a diminished
Slide 9: Business Segment Performance
Business Segment Performance.… 9
Slide 10: Business Segment Performance – Q4FY 2015
Business Segment Performance – Q4FY 2015 DevCo: 0.90 msf gross sales of Rs 1,975 crore booked in Q4FY15 vs 0.36 msf & Rs 650 crore in Q3FY15 DLF 5 Gurgaon – 0.74 msf ( Rs 1,859 crore) New Gurgaon – 0.02 msf ( Rs 12 crore ) Delhi / Rest of India – 0.14 msf ( Rs 104 crore ) Project under C
Slide 11: Business Segment Performance – FY 2015
Business Segment Performance – FY 2015 DevCo: 2.25 msf gross sales of Rs 3,850 crore booked in FY15 vs 3.74 msf sales of Rs 4,070 crore in FY14 DLF 5 Gurgaon – 1.23 msf (Rs 3,240 crore) New Gurgaon – 0.08 msf ( Rs 60 crore ) Delhi / Rest of India – 0.94 msf ( Rs 550 crore ) Project under
Slide 12: Summary: Operating Performance
Summary: Operating Performance Q4FY15 FY 14-15 Sales (in msf) Avg Rate (psf) Sales (in msf) Avg Rate (psf) Sales Booking Gurgaon DLF 5 0.74 25036 1.23 26315 Garden City 0.02 7488 0.08 7373 National Dev Co Luxury 0.01 47813 0.02 43230 Premium 0.14 5041 0.92 5009 Q4FY15 FY 14-15 Leasing in (msf) Avg R
Slide 13: Leased Assets Across India
Leased Assets Across India Cities/Projects Size (msf) % leased Gurgaon Cyber City Office 10.37 95.60 Others Office 0.83 96.72 DAL ( SEZ's ) Office 13.44 92.10 Kolkata/Chandigarh Office 2.93 81.46 Delhi (Corporate Office) Office 0.17 100.00 Malls Delhi Retail 1.42 92.33 Chandigarh Retail 0.19 70.16 I
Slide 14: Live Projects Across India
Live Projects Across India Projects Size (msf) Sold till Under Q4-14-15 Execution (msf) Legacy Express Greens* 0.62 0.48 yes Garden City-91-92-Ph-II 1.37 1.14 yes Horizon Centre 1.17 0.73 Yes Corporate Greens* 0.87 0.14 Yes Capital Greens 5.20 5.20 Yes GK King's Court 0.23 0.18 Yes Indore* 1.69 0.47
Slide 15: Our Development Potential
Our Development Potential Cities Development Business Lease Business Total Development Potential (msf) Gurgaon 109 26 135 Bangaluru 30 0 30 Delhi Metropolitan Region 17 5 22 Chennai 16 5 21 Hyderabad 14 1 15 Chandigarh Tri-City 19 0 19 Kolkata 3 2 5 Other Indian Cities 35 9 44 Total 243 48 290 “The
Slide 16: DevCo Q4 FY15
DevCo Q4 FY15 Total msf Particulars Q4-15 Q4- 14 Q3– 15 Sales Status Opening Balance 37.33 47.63 39.27 Add:- Sale Booked During the Qty 0.90 0.44 0.36 Less : Completion (1.54) (1.01) (2.30) Closing Balance 36.69 47.06 37.33 Under Construction Opening Balance 45.00 56.52 46.73 New Launches / Addition
Slide 17: RentCo Q4 FY15
RentCo Q4 FY15 Total msf Particulars Q4-15 Q4- 14 Q3– 15 Lease Status Opening Balance 27.01 25.17 26.67 Add:- Lease Booked During the Qty 0.55 0.78 0.71 Less :- Cancellation (0.45) (0.29) (0.36) Less :- Sold / Adjustment - - - Closing Balance 27.11 25.66 27.01 Under Construction Opening Balance 1.96
Slide 18: Summary Financials
Summary Financials.… 18
Slide 19: Consolidated P&L – Q4 FY15
Consolidated P&L – Q4 FY15 Q4 FY15 (Audited) Q3 FY15 (Reviewed) Q4 FY14 (Audited) Year ended FY15 (Audited) Year ended FY14 (Audited) Percentage of Percentage of Percentage of Percentage of Percentage of Sl.No. Consolidated Financials Rs. Crs. Rs. Crs. Rs. Crs. Rs. Crs. Rs. Crs. Total Revenue Total
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet DLF LIMITED Consolidated Balance Sheet as at March 31, 2015 Rs. Crs. March-15 March-14 Audited Audited EQUITY AND LIABILITIES Shareholders’ funds Share capital 2,156 2,155 Reserves and surplus 27,013 27,039 Money received against share warrants 29,168 29,194 Share applicat
Slide 21: Consolidated Balance Sheet Contd
Consolidated Balance Sheet Contd….. DLF LIMITED Consolidated Balance Sheet as at March 31, 2015 Rs. Crs. March-15 March-14 Audited Audited ASSETS Non-current assets Fixed assets 24,181 23,617 Goodwill on consolidation 1,206 1,197 Non-current investments 520 375 Deferred tax assets (Net) 1,511 1,018
Slide 22: Consolidated Cashflow Statement
Consolidated Cashflow Statement Details of Cash flow for the period ended March 31, 2015 Rs in crs Pe riod e nde d Pe riod e nde d Particulars 31-Mar-15 31-Mar-14 A. Cas h flow from ope rating activitie s : Profit be fore tax, minority inte re s t and s hare of profit in as s ociate s 627 521 Adjus
Slide 23: Liquidity Update
Liquidity Update Net Debt Position Q3 15 Q4 15 Net Change Actual Actual Opening Gross Debt 25054 23944 Less : Repayment during the Qtr -1536 -1463 Add : New Loans 427 2013 Gross Debt as per Balance Sheet 23944 24494 Less : Equity shown as Debt / JV Co Debt 973 976 Gross Debt ( Net of Equity shown as
Slide 24: Thank You
Thank You 24