Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q4 FY2014 Earnings Presentation
70 slides from Prestige Estates Projects's earnings presentation, 2014
Slide 1: Investor Presentation QIV FY 2013-14
INVESTOR PRESENTATION QIV FY 2013 -14 1 www.prestigeconstructions.com
Slide 2: Index
Index HIGHLIGHTS OF QIV & FY 13-14 OPERATIONAL & FINANCIAL PERFORMANCE SALES SUMMARY DEBT PROFILE RECEIVABLES PROFILE RENTAL PORTFOLIO & LEASING UPDATE PROJECT PORTFOLIO & UPDATE ABOUT PRESTIGE 2
Slide 3: Highlights of QIV & FY 2013-14
HIGHLIGHTS OF QIV & FY 2013-14 3 www.prestigeconstructions.com
Slide 4: Highlights of QIV & FY 2013-14
Highlights of QIV & FY 2013-14 Operational Highlights In Rs.Mn Quarter IV FY Quarter III FY Quarter IV FY Particulars FY 13 -14 FY 12-13 13-14 13-14 12-13 New Sales - Total Amount (Rs. Mn) 8788 12620 6507 44348 37274 Area (Mnsf) 1.40 2.08 1.08 7.41 7.14 Avg Realization/Sft (Rs) 6277 6080 6025 5985 5
Slide 5: Operational Highlights Q4
Highlights of QIV & FY 2013-14 Operational Highlights For the Quarter ended 31st March 2014 (Q4): New Sales: The Company has sold 827 residential units and 0.07 Mnsft of commercial space, aggregating to 1.4 Mnsft amounting to Rs. 8,788 million of sales. • Of the above, Prestige share is: 558 resid
Slide 6: Operational Highlights Full Year Sales
Highlights of QIV & FY 2013-14 Operational Highlights For the year ended 31st March 2014 New Sales: • The Company has sold, for the year ended 31st March 2014, 4486 residential units and 0.22 Mnsft of commercial space, totaling to 7.5 Mnsft, amounting to Rs. 44,348 million. • The comparative sales f
Slide 7: Operational Highlights Collections and Launches
Highlights of QIV & FY 2013-14 Operational Highlights For the year ended 31st March 2014 Collections: • Total collections for the year ended 31st March 2014 are Rs. 29,408 million. • Prestige share of collections for the year ended 31st March 2014 are Rs.24,753 million, up by 26% from that of corres
Slide 8: Total Sales
Highlights of QIV FY 13 13-14 Total Sales Sales Q4 FY13 & Q4 FY14 (Rs.Mn) Sales Y-O-Y (Rs.Mn) PG Share 8788 44348 9000 45000 35% 19% 8000 40000 37274 36323 7000 6507 35000 31221 16% 6007 6000 5416 30000 11% 5000 25000 4000 20000 3000 15000 2000 10000 5000 1000 0 0 FY13 FY14 Q4 FY13 Q4 FY14 www.prest
Slide 9: Comparative Sales
Comparative Sales Sales Y-O-Y (Rs.Mn) 44348 45000 19% 40000 37274 35000 30000 76% 25000 21127 20000 53% 13850 15000 10000 5000 0 FY11 FY12 FY13 FY14 9
Slide 10: Collections
Highlights of QIV & FY 13-14 13 Collections Q4 FY13 & Q4 FY14 (Rs.Mn) Collections Y-O-Y (Rs. Mn) 6557 24753 7000 25000 6000 5328 23% 19695 25% 20000 5000 4000 15000 3000 10000 2000 5000 1000 0 Q4 FY13 Q4 FY14 0 FY13 FY14 www.prestigeconstructions.com 10
Slide 11: Rental Income
Highlights of QIV FY 13 13-14 Rental Income (QOQ) (Rs. Mn) Rental Income-Q4 FY13 & Q4 FY14 (Rs. Mn) 800 716 700 16% 800 716 615 592 572 600 700 563 500 600 27% 500 400 400 300 300 200 200 100 100 0 Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY14 0 Q4 FY13 Q4 FY14 www.prestigeconstructions.com 11
Slide 12: Financial Highlights - Standalone
Highlights of QIV & FY 2013-14 In Rs.Mn Financial Highlights- Standalone Quarter IV FY Quarter III FY Quarter IV FY Particulars FY 13 -14 FY 12-13 13-14 13-14 12-13 Turnover (Rs. Mn) 6591 4600 5875 21525 16064 EBIDTA (Rs. Mn) 1810 1614 1599 6498 5113 EBIDTA % 27% 35% 27% 30% 32% PAT (Rs. Mn) 951 807
Slide 13: Financial Highlights - Consolidated
Highlights of QIV & FY 2013-14 In Rs.Mn Financial Highlights- Consolidated Particulars FY 13-14 FY 12-13 Consolidated Turnover (Rs.Mn) 26467 20112 Consolidated EBIDTA (Rs.Mn) 8076 6345 Consolidated EBIDTA % 31% 32% Consolidated PAT before MI (Rs.Mn) 3215 2908 Consolidated PAT % 12% 14% www.prestigec
Slide 14: Turnover, EBIDTA & PAT Q-O-Q
Highlights of QIV & FY 2013-14 Turnover, EBIDTA & PAT (Rs. Mn) Q-O-Q 7000 6591 6000 5293 5041 5000 4600 4000 Turnover EBIDTA PAT 3000 1810 2000 1599 1614 1476 866 951 778 807 1000 0 Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY 14 www.prestigeconstructions.com 14
Slide 15: Turnover, EBIDTA & PAT Y-O-Y
Highlights of QIV & FY 2013-14 Turnover, EBIDTA & PAT (Rs. Mn) Y-O-Y 25000 21525 20000 34% 16064 15000 Turnover 101% EBIDTA PAT 10000 7992 6498 5113 5000 3400 2907 2760 1291 0 FY12 FY13 FY14 www.prestigeconstructions.com 15
Slide 16: Financial Highlights Q4
Highlights of QIV & FY 2013-14 Financial Highlights For the Quarter ended 31st March 2014 (Q4): • Revenue at Rs. 6,591 million considering revenue from operations and from other income, up by 12% in comparison with the revenue for the corresponding quarter of previous year which stood at 5,875 Mn. •
Slide 17: Financial Highlights Standalone FY14
Highlights of QIV & FY 2013-14 Financial Highlights Standalone For the year ended March 31, 2014 (FY14): • Revenue at Rs. 21,525 million, up by 34% as compared to the corresponding previous year (FY13) revenue of Rs. 16,064 million. • EBIDTA at Rs.6,498 million, up by 27% as compared to the correspo
Slide 18: Financial Highlights Consolidated FY14
Highlights of QIV & FY 2013-14 Financial Highlights Consolidated For the year ended March 31, 2014 (FY14) • Consolidated Revenue at Rs. 26,467 million, up by 32% as compared to the corresponding previous year (FY13) consolidated revenue of Rs. 20,112 million. • EBIDTA at Rs.8,076 million, up by 27%
Slide 19: Launches/Pre Launches during FY 13-14
Highlights of QIV & FY 2013 - 14 Business Performance Launches/Pre Launches during FY 13-14 Developable Economic No. of Units No. of Units Sl.No Project Location Segment Area (Mnsf) Interest (Total) (PEPL Share) Quarter I 1 Prestige West Woods Bangalore Residential 1.02 60.00% 567 341 2 Prestige Aug
Slide 20: Completions during FY 13-14
Highlights of QIV & FY 2013 - 14 Business Performance Completions during FY 13-14 Developable Economic Prestige Share Project Location Segment Area (Mnsf) Interest (Mnsf) Quarter I Forum Vijaya Mall Chennai Retail 1.16 50.00% 0.58 Forum Vijaya - Commercial Chennai Commercial 0.55 50.00% 0.28 Cessna
Slide 21: Area Leased during QIV FY 13-14
Highlights of QIV FY 2013 - 14 Business Performance Area Leased during QIV FY 13-14 Quarter IV FY 13-14 As on 31 March, 2014 Current Area Segment Prestige Prestige Rental Yet to Total Total Share Share Yielding Yield Office 0.48 0.14 9.39 5.16 4.59 0.57 Retail 0.09 0.03 3.33 1.43 0.70 0.73 Total 0.5
Slide 22: Financials Update
FINANCIALS UPDATE 22 www.prestigeconstructions.com
Slide 23: Balance Sheet as at 31st March, 2014
Financials Balance Sheet as at 31st March, 2014 Rs. Mn As at As at As at Particulars 31-Mar-14 31-Dec-13 31-Mar-13 I. EQUITY AND LIABILITIES (1) Shareholders’ funds (a) Share capital 3,500 3,500 3,500 (b) Reserves and surplus 26,211 26,033 23,584 29,711 29,533 27,084 (2) Non-current liabilities (a)
Slide 24: Profit & Loss Account
Financials Profit & Loss Account for the period ended 31st March, 2014 Rs. Mn Quarter ended Year ended Particulars 31-Mar-14 31-Dec-13 31-Mar-13 31-Mar-14 31-Mar-13 (I) Revenue from Operations 6,012 4,305 5,597 20,052 15,124 (II) Other Income 579 295 278 1,473 939 (III) Total Revenue - (I+II) 6,591
Slide 25: Key Ratios
Financials Rs. Mn Key Ratios Quarter Ended Year Ended Year Ended Sl. No. Particulars 31-Mar-14 31-Dec-13 31-Mar-13 31-Mar-14 31-Mar-13 Ratio/% Ratio/% Ratio/% Ratio/% Ratio/% (Audited) (Unaudited) (Unaudited) (Audited) (Audited) 1 Sale of Projects & Property Income 6,012 4,305 5,597 20,052 15,124 2
Slide 26: Key Ratios
Financials Key Ratios Rs. Mn Quarter Ended Year Ended Year Ended Sl. No. Particulars 31-Mar-14 31-Dec-13 31-Mar-13 31-Mar-14 31-Mar-13 Ratio/% Ratio/% Ratio/% Ratio/% Ratio/% (Audited) (Unaudited) (Unaudited) (Audited) (Audited) 11 PBT 1,312 19.91% 1,181 26% 1,254 21% 4,882 22.68% 3,886 24% 12 Tax 3
Slide 27: Sales Summary
SALES SUMMARY www.prestigeconstructions.com 27
Slide 28: Sales Summary
Sales Summary Area in Mnsf Rs. Mn Prestige Share Q1 FY 2014 Q2 FY 2014 Q3 FY 2014 Q4 FY 2014 TOTAL FY 2014 Area Units Value Area Units Value Area Units Value Area Units Value Area Units Value Residential Mid Income Segment 1.33 994 7,297 1.35 986 7,723 1.19 807 6,543 0.79 516 4,505 4.65 3,303 26,068
Slide 29: Unrecognized Revenue From Projects Under Construction
Unrecognized Revenue From Projects Under Construction Rs. Mn Total sales Cumulative Balance Expected value of unit turnover turnover to be Sl.No Projects timeline to reach sold as at declared upto declared on 25% trigger 31.03.2014 31.03.2014 POC A Residential Projects 1 Prestige Bella Vista 10,097
Slide 30: Unrecognized Revenue From Projects Under Construction
Unrecognized Revenue From Projects Under Construction Rs. Mn Total sales Cumulative Balance Expected value of unit turnover turnover to be Sl.No Projects timeline to reach sold as at declared upto declared on 25% trigger 31.03.2014 31.03.2014 POC A Residential Projects 21 Prestige Summer Fields 541
Slide 31: Project Debtors Summary
Project Debtors Summary Rs. Mn Opening Balance New Sales / Amount Closing Balance as Name of the Project as at 01.01.2014 Adjustment Realised at 31.03.2014 Completed Projects Prestige Cyber Towers 202 (7) 19 176 Prestige Oasis 593 (145) 111 336 Prestige Shantiniketan 1,228 73 237 1,064 Prestige Sout
Slide 32: Project Debtors Summary
Project Debtors Summary Rs. Mn Opening Balance Incremental POC Closing Balance Name of the Project Amount Realised as at 01.01.2014 POC Turnover Adjustment as at 31.03.2014 Other Ongoing Projects Prestige Polygon - - - 31 - Prestige Silver Sun - - - 38 - Prestige Summer Fields - - - 21 - Prestige Ja
Slide 33: Debt Profile
Debt Profile Rs. Mn Consolidated Particulars Standalone % % Loan * Debt as on 31.03.2014 Sec ured Loan 17,872 100% 30,684 100% a. Projec t Debt - Resi & Comm 13,762 77% 15,938 52% b. Capex Loans - - - Office Space 763 4% 2,954 10% - Retail - - 950 3% - Hospitality 1,897 11% 2,678 9% c . Rental Sec u
Slide 34: Receivables Profile
Receivables Profile Area in Mnsf Revenue Generating Projects Rs. Mn Developable Area 47.01 Cost Car Park Area 7.79 Saleable Area 39.22 102,628 Partner Share Prestige Share Already Balance to be Value NA Value 172,962 Incurred spent Area 8.69 Area 30.53 39,874 62,754 Sales achieved (63%) Stock (37%)
Slide 35: Rental Income
Rental Income Area in Mnsf RENTAL INCOME Rs. Mn OFFICE SPACE RETAIL EXISTING ONGOING UPCOMING EXISTING ONGOING UPCOMING Leasable Area Leasable Area* Leasable Area Leasable Area Leasable Area* Leasable Area 6.23 4.41 1.00 1.34 3.41 1.17 Prestige Share in Prestige Share in Prestige Share Prestige Shar
Slide 36: Annualised Projected Exit Rentals for Area Leased
Annualised Projected Exit Rentals for Area Leased Area in Mnsf Rs. Mn Total Leasable PEPL Share of Area Leased - Rent P.a Sl. No Project Name Segment Area Leasable Area Prestige Share (Annualised) Existing Rental Income as on 31 March, 2014 1 Prestige Estates Projects Ltd Commercial 1.62 1.62 1.62 7
Slide 37: Project Portfolio & Update
PROJECT PORTFOLIO & UPDATE www.prestigeconstructions.com 37
Slide 38: Business Segments
Business Segments Malls Retail Office Space Apartments Built to suit Villas Campuses Residential Commercial Townships Our SEZs Plotted Developments Business IT Parks Sub leasing & fit out services Resorts Interior Design Services Hospitality Serviced & Execution Apartments Facilities & Hotels Proper
Slide 39: Product Mix – Segment Wise
Product Mix – Segment Wise Ongoing Projects Upcoming Projects Total Area – 59.47 Mnsf Total Area – 31.96 Mnsf 2% 5% 8% 19% Residential 18% Residential Commercial Commercial Retail Retail 72% Hospitality 76% No. of Developable No. of Developable Segment Segment Projects Area (Mnsf) Projects Area (Mns
Slide 40: Product Mix – Geography Wise
Product Mix – Geography Wise Ongoing Projects Upcoming Projects Total Area – 59.47 Mnsf Total Area –31.96 Mnsf 2% 0% 1% 1% 12% 3% 3% Bangalore 4% 10% Chennai Bangalore Cochin Cochin Hyderabad Mangalore Hyderabad Ooty Mangalore 81% 83% Mysore No. of Developable No. of Developable City City Projects A
Slide 41: Ongoing Projects - Residential
Ongoing Projects Residential Prestige Developable Economic Prestige No of Sl.No Project City Share of Area (Mnsf) Interest Share (Mnsf) Units Units 1 Prestige Golfshire- Villas Bangalore 1.75 100.00% 1.75 228 228 2 Prestige White Meadows -1 Bangalore 1.07 100.00% 1.07 163 163 3 Prestige White Meadow
Slide 42: Ongoing Projects - Residential
Ongoing Projects Residential Prestige Developable Economic Prestige No of Sl.No Project City Share of Area (Mnsf) Interest Share (Mnsf) Units Units 23 Prestige Ferns Residency Bangalore 3.29 62.00% 2.04 1,483 920 24 Prestige Misty Waters Bangalore 1.02 51.00% 0.52 558 285 25 Prestige West Holmes Man
Slide 43: Ongoing Projects - Commercial
Ongoing Projects Commercial Developable Economic Prestige Sl. No Project City Area (Mnsf) Interest Share (Mnsf) 1 Cessna Business Park B8 - B11 Bangalore 3.56 85.00% 3.03 2 Prestige Khoday Towers Bangalore 0.26 48.53% 0.13 3 Exora Business Park - Block 2 Bangalore 1.02 32.46% 0.33 4 Prestige Technop
Slide 44: Ongoing Projects - Retail and Hospitality
Ongoing Projects Retail Developable Economic Prestige Sl. No Project City Area (Mnsf) Interest Share (Mnsf) 1 Forum Sujana Hyderabad 1.47 24.50% 0.36 2 Forum Shantiniketan Bangalore 1.06 65.00% 0.69 3 Forum Mysore Mysore 0.55 50.99% 0.28 4 Forum Mangalore Mangalore 0.95 34.00% 0.32 5 Prestige TMS Sq
Slide 45: Upcoming Projects - Residential
Upcoming Projects Residential Developable Economic Prestige Sl.No Project City Area (Mnsf) Interest Share (Mnsf) 1 Prestige Leela Residences Bangalore 0.36 60.00% 0.22 2 Kakanad Property Cochin 0.80 70.00% 0.56 3 Prestige Greenmoor Bangalore 0.39 25.00% 0.10 4 Prestige South Woods Bangalore 1.28 67.
Slide 46: Upcoming Projects - Commercial and Retail
Upcoming Projects Commercial Developable Economic Prestige Sl. No Project City Area (Mnsf) Interest Share (Mnsf) 1 Kakanad Property Cochin 0.20 70.00% 0.14 2 Prestige Technostar Bangalore 1.65 51.00% 0.84 3 Jacobs Land - IT Park Bangalore 2.81 73.93% 2.08 4 Prestige Tech Park IV Bangalore 1.25 90.00
Slide 47: Land Bank & Projects Under Planning
Land Bank & Projects Under Planning Land Area Economic PEPL Share Sl. No Entity Name Location (Acres) Interest (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi 142.74 100.00% 142.74 2 Prestige Projects Pvt Ltd Bangalore 168.00 32.68% 54.90 3 Prestige Garden Resorts Pvt Ltd Bangalore 7.00 100.00% 7.
Slide 48: About Prestige
ABOUT PRESTIGE www.prestigeconstructions.com 48
Slide 49: Advantage Prestige
ADVANTAGE PRESTIGE Iconic developments like Spearheaded by Real Estate Forum Mall, Prestige Icon, Mr. Irfan Razack & his Shantiniketan, UB City, brothers Prestige Golfshire etc Mr. Rezwan and Legacy Spanning over 27 years Mr.Noaman Razack Awarded with financial One of South India’s Leading rating of
Slide 50: Strong Presence Across All South Indian States
Strong Presence Across All South Indian States Karnataka •Bangalore •Mysore •Mangalore Tamil Nadu •Chennai •Ooty Kerala •Kochi Andhra Pradesh •Hyderabad Goa 50
Slide 51: Board of Directors
Board of Directors Irfan Razack Rezwan Razack Noaman Razack Chairman & Managing Director Joint Managing Director Wholetime Director Jagdeesh K. Reddy B.G. Koshy Noor Ahmed Jaffer Dr. Pangal Ranganath Nayak Independent Director Independent Director Independent Director Independent Director 51
Slide 52: Executive Management
Executive Management Faiz Rezwan Uzma Irfan Sana Rezwan Zackria Hashim Zaid Sadiq Executive Director Executive Director Executive Director Executive Director Executive Director Contracts & Projects Corporate Comm. Retail Land Acquisition Liasioning & Hospitality V. Gopal Arvind Pai Nayeem Noor Asha
Slide 53: Shareholding Pattern
Shareholding Pattern Public & Others Mutual Funds 1% 6% FIIs 18% Promoters 75% As on 31 March, 2014 www.prestigeconstructions.com 53
Slide 54: Awards & Recognition
AWARDS & RECOGNITION www.prestigeconstructions.com 54
Slide 55: Awards & Recognition
Awards & Recognition External Financial rating of A- by ICRA Prestige Group has been nominated as India’s most promising brand for the year 2013-14 www.prestigeconstructions.com 55
Slide 56: Awards & Recognition
Awards & Recognition Asia’s Shopping centre & Mall Awards- Most admired shopping centre of the year- UB City www.prestigeconstructions.com 56
Slide 57: Awards & Recognition
Awards & Recognition Asia’s Shopping centre & Mall Awards- Shopping Centre of the year (South)- Forum Mall www.prestigeconstructions.com 57
Slide 58: Project Snapshot: A Virtual Tour
PROJECT SNAPSHOT A Virtual Tour www.prestigeconstructions.com 58
Slide 59: Project Snapshots - New Launches during the quarter
Project Snapshots - New Launches during the quarter Prestige Lakeside Habitat- Phase II Perspective 59
Slide 60: Project Snapshots – Residential Projects
Project Snapshots – Residential Projects Current Construction Progress Prestige Ferns Residency Prestige Park View Prestige Bella Vista Prestige Casabella 60
Slide 61: Project Snapshots – Residential Projects
Project Snapshots – Residential Projects Current Construction Progress Prestige White Meadows Prestige Royal Woods Prestige Edwardian Prestige Garden Bay 61
Slide 62: Project Snapshots – Residential Projects
Project Snapshots – Residential Projects Current Construction Progress Prestige Glenwood Prestige Hermitage Prestige Mayberry Kingfisher Towers 62
Slide 63: Project Snapshots – Commercial Projects
Project Snapshots – Commercial Projects Current Construction Progress Prestige Tech Park III Exora Business Park – B2 Prestige Tech Platina Prestige Trade Towers 63
Slide 64: Project Snapshots – Retail Projects
Project Snapshots – Retail Projects Current Construction Progress Forum Sujana Mall Forum Mangalore Mall Mysore Central Mall Forum Mysore Mall 64
Slide 65: Project Snapshots – Hospitality Projects
Project Snapshots – Hospitality Projects Current Construction Progress Marriot CONRAD (Hilton) 65
Slide 66: Guidance Vs Achieved
GUIDANCE VS ACHIEVED www.prestigeconstructions.com 66
Slide 67: Guidance Vs Achieved
Guidance Vs Achieved Target for Full Achieved Particulars % Achieved Year ( FY 13-14) FY13-14 Sales (Rs. Mn) 43,000 44,348 103% Turnover (Rs Mn) 20,000 21,525 108% Collections (Rs. Mn) 23,000 24,753 108% Launches (Mnsf) 14.00 15.67 112% Leasing (Mnsf) 2.00 2.66 133% Exit Rental Income (Rs. Mn) 3,200
Slide 68: Guidance FY 14-15
Guidance FY 14-15 Target for Full Particulars Year ( FY 14-15) Sales (Rs. Mn) 50,000 Turnover (Rs Mn) 27,000 Collections (Rs. Mn) 28,500-30,000 Launches (Mnsf) 14-16 Completions (Mnsft) 10-12 Leasing (Mnsf) 2.00 Exit Rental Income (Rs. Mn) 3700-3900 Debt Equity Ratio Consolidated 0.75 Standalone 0.5
Slide 69: Disclaimer
Disclaimer This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which ar
Slide 70: Thank You
Thank You Prestige Estates Projects Limited Mr. Venkat K. Narayana The Falcon House, Executive Director & CFO No. 1, Main Guard Cross Road, Phone: +91 -80 – 25001280 Bangalore – 560 001 E-mail: investors@prestigeconstructions.com Phone: +91 -80 – 25591080 Fax: + 91 – 80 - 25591945 70 www.prestigecon
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