Man Infraconstruction Limited · NSE:MANINFRA
Man Infraconstruction — Q3 FY23 Earnings Presentation
65 slides from Man Infraconstruction's earnings presentation, Feb 2, 2023
Slide 1: Exchange filing cover letter
(J;j_ MAN INFRACONSTRUCTION LIMITED 12th Floor, Krushal Commercial Complex, Above Shoppers Stop, G. M. Road, Chembur (West), Mumbai - 400089. India 0 : 9122 42463999 I Ii : 9122 25251589 I U : office@maninfra.comI~:www.maninfra.com 1l l www.facebook.com/maninfra 02nd February, 2023 The Listing Depar
Slide 2: Investor Presentation – Q3 FY23
MAN INFRACONSTRUCTION LIMITED INVESTOR PRESENTATION – Q3 FY23 February 2023
Slide 3: Safe Harbor
Safe Harbor • This presentation has been prepared by and is the sole responsibility of Man Infraconstruction Limited (the “Company” / “MICL”). 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
Slide 4: Index
Index Group Introduction 04 Our Business 23 Performance Update 47 Way Forward 51 Company Financials 54 Annexure 61 3
Slide 5: MICL Introduction
MICL INTRODUCTION MICL INTRODUCTION BUILT WITH ETHICS, BUILT WITH ETHICS, LED WITH PASSION, LED WITH PASSION, FOCUSSED ON VALUE CREATION FOCUSSED ON VALUE CREATION
Slide 6: Creating Marvels with the Art of Engineering
CREATING MARVELS WITH THE ART OF ENGINEERING With a legacy of more than 50 years of building infrastructure across India, MICL Group (Man Infraconstruction Limited) is a leading construction company that continues to alter the structural landscape through several prestigious projects in the resident
Slide 7: Group Milestones
Group 50+ Years of experience in construction across the Country Milestones 50+ Mn Sq. Ft. of real estate and construction delivered 25 mn + Sq. Ft. of 25 mn + Sq. Ft. residential & commercial of ports, infra. & industrial development development 10+ Years of experience in Real Estate Development 2,
Slide 8: MICL: Building India
MICL: Building India o India’s leading construction Company establishing formidable position in real estate development o Focussed leadership Team – 3rd generation now in business o Integrated business model with 2 business verticals EPC and Real Estate o Superior financial performance – Robust grow
Slide 9: Vision, Mission and Group Values
Group Values VISION To be a leading integrated Real Estate • Customer centricity Development company with strong in-house • Pioneering innovation execution expertise and capabilities with attention to detail and utmost customer • Trust and integrity satisfaction and continue to grow in • Quality inf
Slide 10: Built with Ethics
Built with Ethics The journey of MICL Group dates back to 1964 as a partnership firm Started by Mr. Kishore Shah, a civil engineer by profession and the 1st generation entrepreneur of the Group Predominantly engaged in industrial and civil contracting works Undertook & completed multiple projects du
Slide 11: Led with Passion
Led with Passion “ I SEE A CLEANER, GREENER FUTURE ON THE HORIZON WHERE EVERYONE CAN LIVE HAPPIER, LIVE BETTER. ” 30+ years of solid experience in the construction industry and continues to be a mentor in strategic decisions of the Company Known for Quality, Timely execution & Team work, has led rep
Slide 12: Focused on Value Creation
Focused on “ TODAY WE LIVE OUR BEST LIFE, AND TOMORROW, Value Creation WE LIVE BETTER. ” Joined business in 2013 with a vision to diversify & grow in the real estate space Successful Diversification - Real Estate vertical constitute ~60% of revenue as on date Strengthened real estate portfolio – 3.0
Slide 13: Global Aspirations
Global Aspirations Third Generation of the founding family, Mr. Vatsal Shah preserves the guiding principles that have brought MICL it’s continued success Graduated in Business administration from Northeastern University in 2019 Earned a M.S. in Business Analytics from University of Miami in 2021 Ga
Slide 14: Focused on Profitability
Focused on Profitability A qualified Chartered Accountant, he has over 35 years of experience both in India and abroad Specialized in finance, accounts, systems and commercial aspects of the business He oversees all finance, accounting, taxation and auditing work of the Company Responsible for manag
Slide 15: Well-Structured Board
Well-Structured Board MR. BERJIS DESAI MR. KAMLESH VIKAMSEY MR. DHARMESH SHAH MS. KAVITA UPADHYAY Chairman and Independent Director Independent Director Independent Director Non-Executive Director A Master of Law from the Former President of the Institute Member of the Institution of A Chartered Acc
Slide 16: Business Model: Efficient and Scalable
Business Model: Efficient and Scalable Maintain Balance Sheet Strength Leverage Expertise & Knowledge • Maintain low leverage • Strong in-house EPC capabilities • Maximize cash flows • Enabling timely execution of • Bottom-line focused real estate projects Net D/E : -ve ROE & ROCE: 25%^ + Giving Sup
Slide 17: Strong Financial Profile
Strong Financial Profile • Proven financial track record with 9mFY23 Consolidated Financial Performance strong profitability Total Income EBITDA Net Profit • Virtually debt free at holding company and negative Net Debt at consolidated levels ₹ 1,246 Cr ₹ 290 Cr ₹ 177 Cr EBITDA Margin PAT Margin • Re
Slide 18: Diversified Business Verticals
Diversified Business Verticals Real Estate EPC Business • Rs. 5,750+ crore of total sales in last 10 years • Rich experience in civil construction of port infrastructure, • Delivered 10 projects, all before time Residential, Commercial, Industrial & Institutional Buildings • Commitment to quality an
Slide 19: Both Divisions Contributing Strongly
Both Divisions Contributing Strongly 1,210 961 687 Consolidated Revenue (Rs. Cr) 427 640 373 267 164 293 523 178 321 209 89 134 FY19 FY20 FY21 FY22 9MFY23 EPC Real Estate ~5x growth in Real Estate revenue in last 5 years Segment revenue adjusted for intercompany elimination Annualized for 9m FY23 fo
Slide 20: Maintaining Balance Sheet Strength
Maintaining Balance Sheet strength 0.4 0.4 0.3 0.1 -0.1 513 471 293 299 240 207 157 156 44 -104 Net Debt Cash & cash Eq. Net Debt/Equity ratio (x) FY19 FY20 FY21 FY22 9mFY23 Consolidated (in Rs. Cr) Consistently focused to reduce debt and increase liquidity 19
Slide 21: Awards and Recognition
ETHICAL EXCELLENCE INDIA’S MAHARASHTRA‘S BRAND IN TOP PILLAR OF OF THE YEAR DELIVERY CHALLENGERS STRENGTH 2022 2022 2022 2022 Incredible Brands of Incredible Brands 20th CONSTRUCTION MAHARASHTRA India Awards of India Awards WORLD GLOBAL AWARDS BAL STAMBH AWARDS ICONIC BEST MOST TOP YOUNG BRANDS PROM
Slide 22: Architects and Consultants
ARCHITECTS psP EDIFICE felfes architects boss Ratt — uN hear Daiwa . archascts (Qos =—— POP aré po Po eco Keb & norein KA Viay Puriobi CConnatants Pt Lt LANDSCAPE ARCHITECTS MAN INFRACONSTRUCTION LIMITED a STRUCTURAL CONSULTANTS Strictwel Designers & [Consultants Pot. Ls. MEP CONSULTANTS HCP... HO D
Slide 23: Living Better: Strong Focus on ESG
Living Better: Strong Focus on ESG “TODAY WE LIVE OUR BEST LIFE, AND TOMORROW, WE LIVE BETTER.”- Mr. Manan Shah o Mix Design Development for Reducing the o Use of high-performance energy efficient double- Environmental Impact of Concrete glazed glass which reflects heat and allows light into (Reduct
Slide 24: Real Estate Business
Real Estate | Business
Slide 25: Vision and Rationale
Vision and Rationale WE BELIEVE IN THE PHILOSOPHY OF WATER - SHAPING AS WE GO, DEFINING THE FLOW Rationale and Objective Leverage experience and expertise of 50+ years and provide unparalleled lifestyle experiences Driving Values o Functional Luxury: build economical, user-friendly structures o High
Slide 26: Superior Competitive Strength
Superior Competitive Strength 10 projects (residential + commercial) delivered ~Rs. 690^ cr. invested ~3.0 million sq. ft. (Carpet area) of - Proven track record of quality & execution by the company in own Real Estate ongoing and upcoming Residential - All projects delivered before the scheduled da
Slide 27: Strong Brand in a Short Span
Strong Brand in a Short Span Diversified Real Estate portfolio Sales (Rs. Cr.) 2% 3% 1,353 24% Mid-Premium 1,200 Premium 742 71% Luxury 626 611 Ultra Luxury Carpet area of Ongoing Projects category-wise as on Dec-22 FY19 FY20 FY21 FY22 9MFY23 2.65 Rs. 5,750+ 10 2,000+ ~5x growth Mn Sq. Ft crores Car
Slide 28: Strengthening Real Estate Presence
Strengthening Real Estate Presence Completed Projects On-going Residential Projects Upcoming in Mira Road Aspirational projects • Aaradhya Tower • Aaradhya Parkwood Upcoming in luxury in Mira Road • Aaradhya Saphalya • Aaradhya EVOQ project in Vile Parle • Aaradhya Nalanda • Atmosphere O2 Mulund • A
Slide 29: Building Our International Presence
Building Our International Presence Edition Residences URBIN Miami Beach Location: Fort Lauderdale, Florida, USA Location: Washington Avenue, Miami Beach, Florida Type: Residential Type: Commercial, lease model Size: 65 Luxury residence units with Features: co-live, co-work, and an saleable area of
Slide 30: Ongoing Projects
Ongoing Projects Name of RERA Carpet Area sold as Est. MICL's Type on 31.12.2022 Launch Units Sold as Sr. No. Project Name developing Location area Completion Total Units Stake (sq ft.) Date on 31.12.2022 entity (sq ft.) Date$ Aaradhya Man Vastucon Near Dahisar, 1 High Park* – 99.99% 2 Residential t
Slide 31: Upcoming Projects
Upcoming Projects Name of Type ~ Carpet area Expected Sr. No. Project Name MICL's Stake Location Total Units developing entity (sq ft.) Launch Date* Aaradhya Near Dahisar, 1 Parkwood Man Vastucon LLP 99.99% 2 Residential Towers 2,30,136 Sep-23 455 Thane - Phase 2 99.99% | Tardeo, ~6,50,000^ 2 Aaradh
Slide 32: Completed Projects
Completed Projects Total Carpet Area Carpet Area Sold Sr. No. Project Type Total Units No. of Units Sold Completion Date (sq.ft.) (sq.ft.) 1 Aaradhya Tower Residential 48 48 46,994 46,994 2 Aaradhya Saphalya Residential 5 5 4,244 4,244 3 Aaradhya Nalanda Residential 10 10 8,405 8,405 4 Aaradhya Resi
Slide 33: Amenities
AMENITIES Ongoing Projects Infinity Swimming Pool Toddler’s Area *Flats/Units offered for sale are only for Tower 3 (Clove) & Tower 4 (Dion) of Aaradhya Parkwood 1 Project. 32 Yoga & Zumba Indoor Games Area Artist's Impression
Slide 34: Amenities
Ongoing Projects Artist's Impression Artist's Impression AMENITIES Artist’sImpression Reflection Pool Elegant Deck Seating Peaceful Zen Garden Silver Screen Theatre 33
Slide 35: Amenities
Ongoing Projects Artist's Impression Artist's Impression AMENITIES Artist’s Impression Luxurious Swimming Pool Kids’ Play Area Mini - Theatre Gymnasium 34
Slide 36: Amenities
Ongoing Projects Artist's Impression AMENITIES Artist’sImpression Mini Multipurpose Court Kids Rock Climbing Area Entrance & Walkway Zen Garden 35
Slide 37: Amenities
Ongoing Projects Artist's Impression AMENITIES Artist’s Impression The Sports Lounge Snooker Lounge Gymnasium Business Chamber 36
Slide 38: Amenities
Ongoing Projects Phase - II Artist's Impression AMENITIES Swimming Pool Theatre The Gymnasium Play Court - Tennis Kids Play Zone 37
Slide 39: Completed Projects
Completed Projects aarachya IHIGHPERK aaradhya| PRIMLS BEFORE TIME POSSESSION BEFORE TIME POSSESSION Beem Oc 20 1a Now 2077 Fea Oc 20 1a now 2072 aaradhya | signature aaradhya | résidency [EJ BEFORE TIME POSSESSION Fees oct 205 10 ae 201m |EFORE TIME POSSESSION 1 70 1 MAY 27 MAN INFRACONSTRUCTION LI
Slide 40: EPC Business
EPC Business
Slide 41: EPC Business: Building Blocks; Cash Cow
EPC Business: Building Blocks; Cash Cow o Group commenced operations as an EPC company Constructed the 1st Private Port of India o Became a preferred partner of choice for many marquee clients o Successfully executed projects with complex delivery o Strong focus on Infrastructure and Government Proj
Slide 42: Marquee Clientele with excellent client relationships
Marquee Clientele with excellent client relationships 41
Slide 43: Strengths of EPC Business
Strengths of EPC Business Commitment to quality & timely delivery 1 resulting in repeat business from clients Efficient project monitoring and 2 cost control Experience in constructing complex infra 3 projects, high-rise buildings, townships & mass housing developments Owned Plant & equipment and li
Slide 44: Ongoing Projects
Ongoing Projects 01 02 03 Infrastructure Residential Commercial ~1.29 Mn. sq. ft. of Construction Work ~2.67 Mn. sq. ft. of Construction Work ~0.31 Mn. sq. ft. of Construction Work • Govt. Residential: PCMC - Charholi & Ravet • Atmosphere Phase II* • Gateway • Ports – BMCT – ~110 Hectares • Aaradhya
Slide 45: Completed Projects – Port Infrastructure
Completed Projects – Port Infrastructure Constructed the first Private Port of India Bharat Mumbai Container Mundra International Chennai Container Terminal Terminals Pvt Ltd (BMCT) Container Terminal (MICT) (CCT) 90 Hectares 23 Hectares 15 Hectares Nhava Sheva International Container Terminal Gatew
Slide 46: Completed Projects – Residential Buildings and Townships
Completed Projects – Residential Buildings and Townships Kohinoor Residency PCMC - EWS CLIENT : Kohinoor Planet Construction CLIENT : Pimpri Chinchwad Pvt. Ltd. Municipal Corporation (PCMC) AREA: 0.30 Million Sq. Ft. AREA: 2.46 Million Sq. Ft. Blue Ridge Orchid Woods CLIENT : Flagship Infrastructure
Slide 47: Completed Projects – Commercial Buildings and Institutions
Completed Projects – Commercial Buildings and Institutions Kohinoor Commercial Complex Godfrey Phillips Factory Shed CLIENT : Kohinoor Planet Construction Pvt. CLIENT : Godfrey Phillips India Ltd. Ltd. AREA: 0.10 Million Sq. Ft. AREA: 0.36 Million Sq. Ft. Sai Complex Gigaplex IT Park CLIENT : Shirdi
Slide 48: Performance Update
Performance Update
Slide 49: Business Highlights 9mFY23
Business Highlights 9mFY23 • Sold 2.65 mn sq. ft. of carpet area with a cumulative sales value of ~ Rs. 5,750 cr as on Dec-22 • Sales of 3.16 lakh sq ft of carpet area in 9mFY23 with a sales value of Rs. 742 crore o New Launches of ~7.22 lakh sq. ft. in Mumbai (MMR) ‘Aaradhya Parkwood’ (Mid-Income
Slide 50: Q3 FY23 Consolidated Financial Performance
Q3 FY23 Consolidated Financial Performance Revenue from Operations EBITDA Q3 FY23 Q3 FY22 Q3 FY23 Q3 FY22 Rs. 457 crores Rs. 297 crores Rs. 129 crores Rs. 44 crores Up by 54% YoY EBITDA Margins at 28.2% Segment Revenue^ Profit After Tax^ Q3 FY23 Q3 FY22 Real Estate Business EPC Business Rs. 85 crore
Slide 51: 9m FY23 Consolidated Financial Performance
9m FY23 Consolidated Financial Performance Revenue from Operations EBITDA 9m FY23 9m FY22 9m FY23 9m FY22 Rs. 1,210 crores Rs. 697 crores Rs. 290 crores Rs. 192 crores Up by 74% YoY EBITDA Margins at 23.9% Segment Revenue^ Profit After Tax^ 9m FY23 9m FY22 Real Estate Business EPC Business Rs. 177 c
Slide 52: Way Forward
Way Forward
Slide 53: Strategic Priorities
Strategic Priorities Strengthening our position in existing segments Focus on execution and Cash Flow generation Maintain a strong Balance Sheet Create superior shareholder value 52
Slide 54: Way Forward
Way Forward Expansion Strategy Global (USA) Expansion • Real Estate - Focus to grow in MMR region through Asset Light • Expand footprint in demand-generating market - model – JV / JDA / DM Miami, Florida, USA - Well-diversified portfolio across customers, category and micro market • Strategic tie-up
Slide 55: Company Financials
Company Financials
Slide 56: Q3 FY23 Consolidated Financial Highlights
Q3 FY23 Consolidated Financial Highlights Particulars (Rs. Crs.) Q3 FY23 Q3 FY22 Y-o-Y Q2 FY23 Q-o-Q FY22 Total Revenue 456.9 296.5 54% 401.3 14% 961.5 Total Expense 328.0 252.1 307.4 714.0 EBITDA 128.9 44.4 190% 93.9 37% 247.5 EBITDA Margin (%) 28.2% 15.0% 23.4% 25.7% Other Income 14.9 8.3 12.7 201
Slide 57: 9m FY23 Consolidated Financial Highlights
9m FY23 Consolidated Financial Highlights Particulars (Rs. Crs.) 9m FY23 9m FY22 Y-o-Y FY22 Total Revenue 1,210.1 697.2 74% 961.5 Total Expense 920.6 505.3 714.0 EBITDA 289.5 191.9 51% 247.5 EBITDA Margin (%) 23.9% 27.5% 25.7% Other Income 35.6 190.4 201.2 Depreciation and Amortisation Expense 8.2 6
Slide 58: Q3 FY23 Standalone Financial Highlights
Q3 FY23 Standalone Financial Highlights Particulars (Rs. Crs.) Q3 FY23 Q3 FY22 Y-o-Y Q2 FY23 Q-o-Q FY22 Total Revenue 221.7 82.1 170% 122.4 81% 236.6 Total Expense 173.9 52.5 96.3 175.5 EBITDA 47.8 29.6 61% 26.1 83% 61.1 EBITDA Margin (%) 21.5% 36.0% 21.4% 25.8% Other Income 17.2 13.8 39.8 75.3 Depr
Slide 59: 9m FY23 Standalone Financial Highlights
9m FY23 Standalone Financial Highlights Particulars (Rs. Crs.) 9m FY23 9m FY22 Y-o-Y FY22 Total Revenue 441.6 177.3 149% 236.6 Total Expense 332.5 123.7 175.5 EBITDA 109.1 53.6 103% 61.1 EBITDA Margin (%) 24.7% 30.3% 25.8% Other Income 68.9 60.8 75.3 Depreciation and Amortisation Expense 4.8 3.6 4.8
Slide 60: Historical Financial Highlights - Consolidated
Historical Financial Highlights - Consolidated Profit & Loss Statement (Rs. Crs.) Dec-22 Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Revenue from Operations 1,210.1 961.5 427.2 267.0 371.4 651.6 Total Expense 920.6 714.0 330.6 269.7 271.6 452.2 EBITDA 289.5 247.5 96.6 -2.7 99.8 199.4 EBITDA % 23.9% 25.74% 22
Slide 61: Historical Financial Highlights - Standalone
Historical Financial Highlights - Standalone Profit & Loss Statement (Rs. Crs.) Dec-22 Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Revenue from Operations 441.6 236.6 119.6 107.0 166.5 192.9 Total Expense 332.5 175.5 115.9 108.8 125.7 175.2 EBITDA 109.1 61.1 3.7 -1.8 40.8 17.7 EBITDA % 24.7% 25.8% 3.1% - 24.
Slide 62: Annexure
Annexure Favorable Market Conditions
Slide 63: Indian Real Estate to become $1 trillion market
Indian Real Estate to become Housing to contribute ~7% of GDP Favourable Long-Term Factors $1 trillion market 12% 10% 1,000 Home loan rate still lower than 8% peak levels 650 6% Significant improvement in 4% affordability 180 2% 50 0% Unsold Inventory at it’s lowest 2008 2020e 2025e 2030e FY12 FY20
Slide 64: Large scale development initiatives by Government
Large scale development initiatives by Government Strong Macro-Drivers Sagarmala Project • Infrastructure led economic growth - Port Development and modernization program - Significant Investment outlay of Rs. 5.5 trillion by 2035 • Strong emphasis laid on ‘Make in India initiative’ • All time high
Slide 65: Thank You
THANK YOU INVESTOR RELATIONS Company: MICL Go India Advisors Name: Mr. Yashesh Parekh Name: Mrs. Sheetal Khanduja Tel: +91-9769364166 Email: Yashesh@maninfra.com Email: sheetal@goindiaadvisors.com 64
Man Infraconstruction — Q3 FY23 Earnings Presentation on 6ix