Puravankara Limited · NSE:PURVA
Puravankara — Q1 FY2014 Earnings Presentation
46 slides from Puravankara's earnings presentation, June 2013
Slide 1: Puravankara Projects Limited
Results – 31 Mar 2012 Puravankara Projects Limited June 2013
Slide 2: Contents
Contents • Company Overview 3-9 • Shareholding Pattern/ Stock Movement 10 - 12 • Sales 13 - 14 • Area information 15 - 21 • Cash Flows 22 - 24 • Income Statement Analysis 25 - 29 • Statement of Capital Employed 30 - 31 • Debt 32 - 34 • Leadership 35 • Location Maps 36 - 40 • Project Pictures 41 - 43
Slide 3: Company Overview
PURAVANKARA Company Overview
Slide 4: Overview
Overview • Deep domain knowledge of 38 years of the Promoter Mr. Ravi Puravankara, and his team have established Puravankara as a developer of repute; • Amongst South India’s leading real estate developer with an established presence in residential segment comprising of luxury and premium affordable
Slide 5: Premium Affordable housing through Provident Brand
Premium Affordable housing through Provident Brand • Established Provident Housing Limited in 2008 to create mid and mass housing projects comprising quality affordable apartments in response to burgeoning demand for mid-income housing • Affordability is a combination of – Efficient design improving
Slide 6: Land bank across various established micro-markets
Land bank across various established micro-markets Land portfolio Developable area breakup in millions sq. ft. (mm sq ft) Completed Ongoing Upcoming Land Bank Total (A) (B) (C) (A)+(B)+(C) Bengaluru 15.01 14.22 11.98 42.16 68.36 Chennai 1.10 6.96 3.24 4.66 14.86 Kolkata - 2.23 - - 2.23 Kochi 0.27 1.
Slide 7: Ongoing Development
Ongoing Development By geography By entity By segment Commercial Coimbatore Hyderabad 2%; 0.5msft Provident 5%; 1.3msft 7%; 1.9msft 38%; 10.6msft Mangalore 1%; 0.4msft Kochi 7%; 1.9msft Kolkata 8%; 2.2msft Chennai Bengaluru Residential 25%; 6.7msft 51%; 14.2msft Puravankara 95%; 26.7msft 62%; 17.5ms
Slide 8: Upcoming Development
Upcoming Development By geography By entity By segment Provident 7%; Commercial Coimbatore 3%; 0.6msft 1.6 msft 7%; 1.5msft Chennai 14%; 3.2msft Kochi 31%; 7.1msft Bengaluru 52%; 12.0msft Residential Puravankara* 93%; 21.4msft 93%; 21.3msft Total=22.89 msft Note: 1. Area includes share in Keppel Joi
Slide 9: Summary of Financial Performance
Summary of Financial Performance Revenues (INR mn) EBITDA Profit Before Tax Profit After Tax 12,485 4,000 40% 3,000 35% 3,558 7,000 70% 2,434 5,794 3,500 35% 2,500 30% 6,000 60% 47% 48% 46% 3,000 30% 30% 25% 58% 36% 24% 24% 29% 20% 17% 19% 8,156 5,000 50% 2,000 3,925 2,500 25% 1,983 1,453 20% 4,000
Slide 10: Shareholding Pattern
PURAVANKARA Shareholding Pattern 10
Slide 11: Shareholding Pattern – as at June 2013
Shareholding Pattern – as at 30 June 2013 Individuals and Others, 1.44 Insurance DIs, 3.35 Companies, 0.79 Mutual Funds, 6.42 FIIs, 13 Promoters, 75 Notes Promoter Shares are unencumbered Key Shareholders Mutual Funds FIIs Insurance and Bodies Corporate SBI AMC HSBC Life Insurance Corporation Relian
Slide 12: Stock Movement
Stock Movement Puravankara outperformed BSE Realty Index during July 1 2012 to June 30 2013 by 51% 210 190 170 150 130 110 90 70 Apr/13 Apr/13 May/13 May/13 Aug/12 Aug/12 Jul/12 Jul/12 Jul/12 Nov/12 Nov/12 Sep/12 Sep/12 Dec/12 Dec/12 Dec/12 Feb/13 Feb/13 Mar/13 Mar/13 Jun/13 Jun/13 Oct/12 Oct/12 Jan
Slide 13: Sales
PURAVANKARA Sales 13
Slide 14: Sales – June 2013
Sales – 30 June 2013 Based on Bookings Quarter ended Area Sold Units Sold Sale Value Sale Realization Jun-13 Jun-12 % Jun-13 Jun-12 % Jun-13 Jun-12 % Jun-13 Jun-12 % msft msft Nos. Nos. Rs.in million Rs.in million Rs.psft Rs.psft Puravankara 0.39 0.29 34% 244 168 45% 1,665 1,254 33% 4,269 4,324 -1%
Slide 15: Area Information
PURAVANKARA Area Information 15
Slide 16: Area Under Development – Snapshot
Area Under Development – Snapshot in millions sq. ft. (numbers in millions sq. ft.) FY11 FY12 FY13 Q1FY14 Opening Area 16.35 21.12 23.74 28.04 Add: Launches during the year / quarter 1 7.32 5.80 7.28 - Less: Completed during the year / quarter 2 (2.55) (3.18) (2.98) - Closing Area 21.12 23.74 28.04
Slide 17: Current Project Status – June 2013
Current Project Status – 30 June 2013 S.No. Project Location Puravankara's On Area Launched Developable JD / JV Share Share - Total Flats Area for Developer Developable Area Sold Area Area Launched Inventory Cumulative Msft Units % Msft Msft Msft % COMPLETED Puravankara 1 Atria Sanjay Nagar, Bengalu
Slide 18: Current Project Status – (contd.)
Current Project Status – 30 June 2013 – (contd.) S.No. Project Location Puravankara's On Area Launched JD / JV Developable Share - Total Flats Share for Area Developable Area Sold Developer Area Launched Inventory Area Cumulative Msft Units % Msft Msft Msft % NEARING COMPLETION Puravankara 1 Grand B
Slide 19: Current Project Status – (contd.)
Current Project Status – 30 June 2013 – (contd.) S.No. Project Location Puravankara's On Area Launched JD / JV Developable Share - Total Flats Share for Area Developable Area Sold Developer Area Launched Inventory Area Cumulative Msft Units % Msft Msft Msft % UNDER CONSTRUCTION Puravankara 1 Platina
Slide 20: Current Project Status – (contd.)
Current Project Status – 30 June 2013 – (contd.) S.No. Project Location Puravankara's On Area Launched JD / JV Developable Share - Total Flats Share for Area Developable Area Sold Developer Area Launched Inventory Area Cumulative Msft Units % Msft Msft Msft % COMMERCIAL Puravankara 1 Primus OMR, Che
Slide 21: Immediate Launches - Schedule
Immediate Launches - Schedule S. No Location City Development Model Development Developable PPL Share in Saleable Current Status Expected Launch Type Area JD Area Date Msft Msft Puravankara 1 JP Nagar Bengaluru Joint Development Residential 0.17 71% 0.12 Ready for launch Q2 - FY14 2 Kudlu Bengaluru
Slide 22: Cash Flows
PURAVANKARA Cash Flows 22
Slide 23: Cash Flow – Summary
Cash Flow – Summary Rs. millions Puravankara Provident Total Balance collections from sold units 1 (A) 7,723 3,366 11,090 Inventory 2 (B) 49,360 26,472 75,832 Residential Launched 22,642 8,032 30,674 Not Launched 20,443 18,440 38,883 Commercial 6,275 - 6,275 Balance cost to go 3 (C) 18,104 14,425 32
Slide 24: Cash Flow Statement
Cash Flow Statement Rs. millions Q1 2014 Q4 2013 Receipts Collection from Sale of Flats 3,545 4,020 Advance recd for sale of land 43 20 A Total Receipts 3,588 4,041 Outflow Construction Cost incurred (1,806) (1,892) Employee Cost (228) (196) Selling & Marketing Expenses (505) (456) Income Tax Paid (
Slide 25: Income Statement Analysis
Income Statement Analysis 25
Slide 26: Income Statement – Summary
Income Statement – Summary Rs. millions Puravankara Provident Others Total Recognised for Q1FY2014 Revenue Recognised 1 (A) 2,497 1,122 33 3,652 Land Cost Recognized (B) 310 137 4 451 Construction Costs Recognised 2 (C) 1,315 351 - 1,666 Surplus (A) – (B) – (C) 872 634 30 1,536 Unrecognised Revenue
Slide 27: Result Highlights
Result Highlights Rs. millions Q1FY14 Puravankara Provident Starworth Other Subsidiaries and Eliminations Consolidated Revenues 2,535 1,124 359 -325 3,692 YoY growth (%) 55% 39% 58% 49% Profit Before Tax 455 507 46 29 1,038 YoY growth (%) 30% 58% 51% 41% margins (%) 18% 45% 13% 28% Profit After Tax
Slide 28: Consolidated Statement of Profit and Loss for the quarter ended 30 June 2013
Consolidated Statement of Profit and Loss for the quarter ended 30 June 2013 Rs. millions 30 Jun 2013 30 Jun 2012 (All amounts in Rs. millions, unless otherwise stated) Income Revenue from operations Revenue from projects 3,667 2,463 Other operating revenues 22 10 Other income 3 6 Total 3,692 2,479
Slide 29: Key Financial Indicators
Key Financial Indicators Valuation Matrix (X) Q1FY14 FY 2013 FY 2012 FY 2011 Income Statement (Rs. Mn) Q1FY14 FY 2013 FY 2012 FY 2011 Price/Earnings - Annualized 7.03 7.97 10.71 19.60 Total Income 3,692 12,485 8,156 6,002 Price /BV 0.96 1.02 0.86 1.46 EBITDA from Operations 1,616 5,794 3,925 2,823 E
Slide 30: Statement of Capital Employed
Statement of Capital Employed 30
Slide 31: Statement of Capital Employed
Statement of Capital Employed Rs. millions 30 June 2013 31 Mar 2013 Sources of Funds Equity 1,186 1,067 Reserves and Surplus 20,259 21,445 58% 17,928 18,995 52% Total Debt 15,809 42% 17,663 48% Total 37,253 100% 36,658 100% Application of Funds Land Investments 1,616 1,442 Properties held for develo
Slide 32: Debt
PURAVANKARA Debt 32
Slide 33: Debt Structure – June 2013
Debt Structure – June 2013 Inter Corporate Debentures Deposit 5% 5% Term Loan - Subsidiaries / Associates 13% Over Drafts 11% Term Loans 66% Debt Movement Q1 - 2014 Q4 - 2013 INR Million INR Million Opening Balance 17,665 16,316 Additions during the period 1,150 5,489 Repayments during the period 3,
Slide 34: Equity Raised and Utilization
Equity Raised and Utilization Shares Issue Price Proceeds, net of commission Nos. Rs.per share Rs.million Institutional Placement Programme 2,37,25,351 81.00 1,922 Offer for Sale1 1,41,35,576 81.76 1,154 3,78,60,927 3,076 Less: Issue Expenses 154 Surplus 2,923 Utilization Pre-payment of Debt 3 2,923
Slide 35: Dedicated and experienced management team
Dedicated and experienced management team – committed to best practices of corporate governance Executive team Non-Executive team Ravi Puravankara Anup Shah Chairman and Managing Director Independent Director • Over 35 years of experience in real estate industry • Bachelor’s degree in law • Former p
Slide 36: Bengaluru location map
Bengaluru location map Sl. No. Project Name 1 Atria, Sanjay Nagar 2 Venezia, Yelahanka 3 Highlands, Mallasandra 4 Mid-Town, KR Puram 5 Seasons, CV Raman Nagar 6 Sunflower, Magadi Road 7 Skywood, Sarjapur Road 8 Whitehall, Sarjapur Road 9 Harmony, Thannisandra Road 20 10 Welworth City, Doddaballapur
Slide 37: Chennai location map
Chennai location map Sl. No. Project Name 1 Cosmo City, Pudupakkam 2 Swan Lake, OMR 3 Windermere, Medavakkam 4 Primus, OMR 5 Moneto, Guindy 6 Padur Current Projects Immediate Launches Note: Map not to scale 37
Slide 38: Kochi location map
Kochi location map Sl. No. Project Name 1 Oceana, Marine Drive 2 Grandbay, Marine Drive 3 Eternity, Kakkanad 4 Moonreach, Airport-Seaport Road Current Projects Note: Map not to scale 38
Slide 39: Coimbatore location map
Coimbatore location map Sl. No. Project Name 1 Bluemont, Trichy Road 2 Selvapuram Current Projects Immediate Launches Note: Map not to scale 39
Slide 40: Mangalore location map Hyderabad location map
Mangalore location map Hyderabad location map Sl. No. Project Name Sl. No. Project Name 1 Skyworth, Derebail 1 Summit, Kondapur Note: Map not to scale Current Projects 40
Slide 41: Project Pictures
Project Pictures PROVIDENT WELWORTH CITY PROVIDENT SUNWORTH PROVIDENT SKYWORTH 41
Slide 42: Project Pictures
Project Pictures PURVA BLUEMONT PURVA WINDERMERE PURVA MOONREACH PURVA WHITEHALL
Slide 43: Project Pictures
Project Pictures PURVA HIGHLAND PURVA RIVIERA PURVA FOUNTAINSQUARE PURVA VENEZIA 43
Slide 44: Awards and achievements
Awards and achievements Awards for Puravankara projects Purva Fountain Square Best Ornamental Garden, 2013 by the Mysore Horticulture Society Luxury Project of the Year at Realty Excellence Awards, 2011 Purva Windermere - Most Admired Upcoming Project of the Year, 2013 at Real Estate Awards for Reta
Slide 45: Disclaimer
Disclaimer This presentation contains certain forward-looking statements. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, o
Slide 46: THANK YOU
THANK YOU Puravankara Projects Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Please contact: Mr. Anil Kumar, Chief Financial Officer Email: cfo@puravankara.com; Tel: +91-80-4343 9688 46