Keystone Realtors Ltd. · NSE:RUSTOMJEE
Keystone Realtors — Q2 FY2025 Earnings Presentation
40 slides from Keystone Realtors's earnings presentation, Nov 11, 2024
Slide 1: Cover letter to exchanges: Investor Presentation
Date: November 11, 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: 5
Slide 2: Quarterly Update
Quarterly Update RUSTOMJEE CROWN | SHOT AT LOCATION Keystone Realtors Limited
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 ARTIST’S IMPRESSION
Slide 4: Company Overview
Company Overview A Snapshot of Rustomjee 4 Our Journey over two decades 7 Our Ecosystem 8 Technology in Planning, Execution, Sales & Marketing 9 Ongoing & Forthcoming Projects 10,11 Project Pipeline 12 Actual views from the Rustomjee Ocean Vista superimposed. Growth Drivers 13 3 // Quarterly Update
Slide 5: A Snapshot - Leading Developer in MMR
Company Overview Recent Accolades and A Snapshot Performance Highlights Management Structure Industry recognition awards 2024-25 RUSTOMJEE - Leading Developer in MMR India’s Top Builders 2024 in the National Category CWAB Awards 2024 28+ 2 Maharashtra State's Best Employer Award 19th Employer Brand
Slide 6: A Snapshot (Contd.)
Company Overview A Snapshot (Contd.) Performance Highlights Management Structure 25+ Million Capabilities Sq. Ft. delivered and Experience Prominent MMR Real Estate developer with Capability and experience in developing 25+ Million Sq. Ft. construction area delivered standalone buildings, gated comm
Slide 7: A Snapshot (Contd.)
Company Overview A Snapshot (Contd.) Performance Highlights Management Structure End to End Project Sustainable Management Development Capabilities Strong focus developments on sustainability in all our 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 • La unc he d • Launched the • Launched the • Mausmi SA Investments LLC • Launched the • Entered into a • Acquired land • Sales launch its first Development township tower made an investment in re d e ve lo p m
Slide 9: Our Ecosystem
Company Overview Our Ecosystem Performance Highlights Management Structure Mt. K Kapital CREST – Property Fifth Wall Designs3 Category II – AIF1 Management Services2 RUSTOMJEE SEASONS | SHOT AT LOCATION • Mt. K Kapital is a real estate focused fund • Provides services post purchase of a residential
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 15 Ongoing Projects Virar Performance Highlights Management Structure Townships 1. Global City (H/K Wing), Virar (W) (Affordable) 2. La Vie, La Familia , Verdant Vistas A Wing, Verdant Vistas B Wing - Urbania, Thane (W)* (Mid and Mass) (A JV with Keppel Land of Singapore) 2 Reside
Slide 12: Forthcoming Projects
1 Company Overview Forthcoming Projects Virar Performance Highlights Management Structure Townships 1. Global City, Virar (W) (Affordable) Commercial 24 2. Urbania, Thane (W)* (Mid and Mass) 20. Urbania Commercial (A JV with Keppel Land of Singapore) 21. OB12 + 13, Bandra (E) 16 22. New Kamal Kunj,
Slide 13: Strong residential project pipeline in place for future growth
Company Overview Strong residential project pipeline Performance Highlights Management Structure 15 Ongoing 26 Forthcoming in place for future growth ~7.17 msf saleable ~26.22 msf saleable Ongoing Projects Forthcoming Projects 15 26 projects projects Super Premium/Premium 5 Super Premium/Premium 3 C
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 Performance Snapshot (For H1) 16 Operational Highlights 17 Guidance V/s Actual 18 Completed projects 19 Ongoing projects 20 Forthcoming Projects 21 Category wise Performance 22 Historical Operational Performance (Last 5Q) 24 New Launch
Slide 16: Performance Snapshot (Q2 FY-25)
Company Overview Performance Highlights Performance Management Structure Snapshot (Q2 FY-25) Pre-Sales Value Collections Area Sold ₹ 7.00 Bn ₹ 5.52 Bn 0.46 Mn Sq.Ft. Projects Launched – 3 Projects Added – 3 OCF ₹ 20.40 Bn Estimated GDV ₹ 13.33 Bn ₹ 1.61 Bn Estimated GDV Revenue from Operations EBITD
Slide 17: Performance Snapshot (H1 FY-25)
Company Overview Performance Highlights Performance Management Structure Snapshot (H1 FY-25) Pre-Sales Value Collections Area Sold ₹ 13.11 Bn ₹ 10.37 Bn 0.70 Mn Sq.Ft. Projects Launched – 5 Projects Added – 4 OCF ₹ 40.57 Bn Estimated GDV ₹ 23.17 Bn ₹ 2.69 Bn Estimated GDV Revenue from Operations EBI
Slide 18: Operational Highlights – Q2 FY25
Operational Highlights – Q2 FY25 QoQ YoY H1 PARTICULARS Q2 FY25 Q1 FY25 Growth Q2 FY24 Growth H1 FY25 H1 FY24 Growth FY24 (%) (%) (%) Pre-Sales Value (INR Bn) 7.00 6.11 15% 3.06 129% 13.11 8.07 62% 22.66 Collection (INR Bn) 5.52 4.85 14% 5.85 -6% 10.37 10.80 -4% 22.03 Area Sold (Mn Sq. Ft.) 0.46 0.2
Slide 19: Guidance Vs Actual
Company Overview Performance Highlights Guidance Vs Actual Management Structure FY 25 YTD PARTICULARS FY24 GUIDANCE FY24 ACTUALS FY 25 GUIDANCE ACTUALS 25% growth 41% growth. 33% growth. 62% growth YoY Pre-Sales (INR Bn) (INR 20.00 Bn) (INR 22.66 Bn) (INR 30.00 Bn) (INR 13.11 Bn) 4 Projects to be 6
Slide 20: Completed Projects as on 30th Sep 2024
Company Overview Performance Highlights Completed Projects as on 30th Sep 2024 Management Structure TOTAL UNSOLD COST SOLD EST UNSOLD SR. SALEABLE SALEABLE TO NAME OF PROJECT RECEIVABLE INVENTORY NO. AREA AREA COMPLETE* (INR BN) (INR BN) (MN SQ FT) (MN SQ FT) (INR BN) 1 Seasons Wing D 0.34 0.04 0.22
Slide 21: Ongoing Projects as on 30th Sep 2024
Company Overview Performance Highlights Ongoing Projects as on 30th Sep 2024 Management Structure TOTAL UNSOLD COST SALEABLE SALEABLE SOLD EST UNSOLD NO. OF GDV TO CATEGORY AREA AREA % SHARE RECEIVABLE INVENTORY PROJECTS (INR BN) COMPLETE * (MN SQ (MN SQ (INR BN) (INR BN) (INR BN) FT) FT) Residentia
Slide 22: Forthcoming Projects as on 30th Sep 2024
Company Overview Performance Highlights Forthcoming Projects as on 30th Sep 2024 Management Structure SALEABLE NO. OF EST. GDV COST TO AREA CATEGORY PROJECTS (INR BN) COMPLETE* (MN SQ FT) (INR BN) Residential (A) 22 20.99 329.52 202.52 Super Premium/Premium 3 0.73 38.27 19.60 Aspirational 5 1.42 45.
Slide 23: Category-wise Performance for Q2 FY-25 (Pre-Sales)
Company Overview Performance Highlights Category-wise Performance for Q2 FY-25 Management Structure CATEGORY PRE-SALES (INR BN) PRE-SALES (INR BN) % % Q2 FY-25 Q2 FY-24 H1 FY-25 H1 FY-24 CHANGE CHANGE Super premium / Premium 2.32 1.23 88% 4.74 2.37 100% Aspirational 2.18 0.22 893% 4.34 1.02 327% Mid
Slide 24: Category-wise Performance for Q2 FY-25 (Collections)
Company Overview Performance Highlights Category-wise Performance for Q2 FY-25 Management Structure CATEGORY COLLECTIONS (INR BN) COLLECTIONS (INR BN) % % Q2 FY-25 Q2 FY-24 H1 FY-25 H1 FY-24 CHANGE CHANGE Super premium / Premium 2.33 2.59 -10% 4.12 3.49 18% Aspirational 1.13 0.88 27% 2.17 1.83 18% M
Slide 25: 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.) (INR BN) (INR BN) 8.4 0.46 340 6.7 0.38 7.0 0.37 5.9 277 6.2 6.1 5.5 4.9 4.5 215 0.24 167 151 0.16 3.1 Q4 FY24 Q1 FY2
Slide 26: New Launches in FY-25
Company Overview Performance Highlights New Launches in FY-25 Management Structure RERA SALEABLE LAUNCH NATURE OF EST GDV PROJECT NAME LOCATION CATEGORY COMPLETION AREA QUARTER DEVELOPMENT (INR BN) DATES (MN SQ. FT) Aspirational 180 Bayview (Jariwala) Q1 FY25 Matunga (W) DM Dec-29 0.48 13.18 Ocean V
Slide 27: New Project Additions in FY-25
Company Overview Performance Highlights New Project Additions in FY-25 Management Structure SALEABLE QUARTER OF NATURE OF EST GDV CURRENT PROJECT NAME LOCATION CATEGORY AREA ACQUISITION DEVELOPMENT (INR BN) STATUS (MN SQ. FT) 1. Avinash Towers CHSL Q1 FY25 Versova Aspirational Redevelopment 0.35 9.8
Slide 28: Project Additions from FY23 onwards
Company Overview Performance Highlights Project Additions from FY23 onwards Management Structure FY 23 FY 24 H1 FY25 Added 17 Projects from FY23 having estimated (5 Projects) GDV of ~ INR 153 Bn (8 Projects) (4 Projects) • Jariwala, Mahim • Dhuruvadi, Prabhadevi (GDV: • Avinash CHSL, Versova ---- (G
Slide 29: Cash Flows
Company Overview Performance Highlights Cash Flows Management Structure PARTICULARS (INR Mn) Q2 FY-25 Q1 FY-25 Q2 FY-24 YTD FY 25 YTD FY 24 FY 23-24 Operating Activities Net Collections 4,264 3,590 2,983 7,854 5,224 13,844 Receipts from DM / JV Projects - (0) 18 (0) 339 629 Construction Cost (1,254)
Slide 30: Financial Summary – Debt Movement
Company Overview Performance Highlights Financial Summary – Debt Movement Management Structure DEBT MOVEMENT (INR MN) 30-Sep-24 31-Mar-24 Gross Debt 4,478 7,652 Less: Cash and Cash Equivalents 9,464 4,061 Net Debt (4,986) 3,591 Equity 26,784 17,978 Gross Debt to Equity Ratio 0.17 0.43 Net Debt to Eq
Slide 31: Financial Summary – Profit & Loss
Company Overview Performance Highlights Financial Summary – Profit & Loss Management Structure CONSOLIDATED RESULTS (INR Mn) Q2 FY-25 Q1 FY-25 Q2 FY-24 H1 FY-25 H1 FY-24 FY-24 Revenue from Ops 5,331 4,222 6,180 9,552 8,900 22,223 Other Income 232 150 153 382 262 534 Total Income 5,562 4,372 6,333 9,
Slide 32: ESG (Environment, Social and Governance)
Company Overview Performance Highlights ESG (Environment, Social and Governance) Management Structure Environmental Social Governance Initiatives Initiatives • Awarded A+ Grade by the Government of Policies Implemented: • E-waste and Hazardous waste Maharashtra and title of the Best • Anti bribery a
Slide 33: Management Structure
Management Structure RUSTOMJEE CROWN | SHOT AT LOCATION Experienced Promoters and Directors 33 Supported by a Professional Management Team 34 Shareholding Pattern at the End of Quarter 35 Completed Projects 36 32 // Quarterly Update Q2FY-25 Keystone Realtors Limited
Slide 34: Experienced Promoters and Directors
Company Overview Performance Highlights Management Structure Experienced Promoters and Directors Boman Irani Chandresh Mehta Percy Chowdhry CHAIRMAN & MANAGING EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR DIRECTOR • 28+ years of Real Estate experience • 28+ years of Real Estate Experience • 25+ years of Re
Slide 35: Backed by a Professional and Reinforced Management Team
Backed by a Professional and Reinforced Management Team Company Overview Performance Highlights Management Structure Sajal Gupta Rakesh Setia Venkatraman B. Manish Sawant (GROUP CFO & HEAD (TECHNICAL ADVISOR TO (GROUP HEAD – SALES ( G R O U P H E A D – LIAISONING) CORPORATE STRATEGY) THE BOARD) AND
Slide 36: Shareholding Pattern as on 30th Sep ‘24
Company Overview Performance Highlights Management Structure Shareholding Pattern as on 30th Sep ‘24 FPIs Abu Dhabi Investment Authority Monsoon Morgan Stanley India Tata Indian Opportunities Fund Promoter Mutual Funds FPI Tata Mutual Fund Mutual Funds Quant Mutual Fund Insurance Bandhan Small Cap F
Slide 37: Completed Projects
2 Company Overview 1 Performance Highlights Management Structure Completed Projects Virar 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 38: 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 39: Balance Sheet
Company Overview Performance Highlights Balance Sheet Management Structure As at As at As at Balance Sheet (In INR Mn) 30 th Sep 2023 31 st Mar 2024 31 st Mar 2023 Assets Non Current Assets PPE, Investment Property, ROU 456 367 236 Goodwill 3,182 3,182 158 Investments 3,352 3,502 5,475 Financial Ass
Slide 40: Thank You
Thank You KEYSTONE REALTORS LIMITED 702, Natraj, M.V. Road Junction, Western Express Highway, Andheri East, Mumbai – 400 069. Tel: 022 – 667 66 888 www.rustomjee.com. investor-relations@rustomjee.com Investor Relations Mr. Kamal Mittal Mr. Kanav Khanna Head – Fund Raising & Investor Relations EY (IR