Ganesh Housing Limited · NSE:GANESHHOU
Ganesh Housing — Q3 FY2023 Earnings Presentation
30 slides from Ganesh Housing's earnings presentation, Jan 17, 2023
Slide 1: Exchange cover letter: Q3 FY23 Earnings Presentation
ISO 9001 :2015 I ISO 14001 :2015 ISO 45001 :2018 REF.NO./GHCL/AHMD/2022-2023/363B DATE: JANUARY 17, 2023 To To BSE Limited National Stock Exchange of India Limited Corporate Relation Department Exchange Plaza, Phiroze Jeejeebhoy Towers Plot No. C/1, G Block Dalal Street, Bandra-Kurla Complex Mumbai
Slide 2: Q3FY23 Earnings Presentation
G A N E S H HO U S ING Q3FY 23 E A R N IN G S P R E S E N TAT IO N
Slide 3: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Ganesh Housing Corporation Limited (the “Company”) and no part of it shall form the basis of or be relied upon in conn
Slide 4: Q3FY23 Highlights
Q 3 F Y 2 3 H I G H L I G H T S
Slide 5: Q3FY23 and 9MFY23 Key Business Highlights
Q3FY23 and 9MFY23 Key Business Highlights 9MFY23 revenue at ~ EBITDA 48% higher at INR 475 PAT growth of 22% to INR 303 l2 INR 4,378 Mn, grew 91% YoY v/s INR 2,293 Mn in 9MFY22 llo O !1 Mn in Q3FY23; 9MFY23 EBITDA 0 grew 82% at INR 1,514 Mn Mn in Q3FY23; 9MFY23 PAT grew 38% at INR 627 Mn Deleveragin
Slide 6: Q3FY23 Financial Performance
Q3FY23 Financial Performance Particulars (INR Mn) Q3FY 23 Q3FY 22 YoY (%) 9MFY 23 9MFY 22 YoY (%) Revenue 674 761 (11.4%) 4,378 2,293 90.9% EBITDA 475 322 47.5% 1,514 831 82.2% EBITDA Margin (%) 70.5% 42.3% 28.2% 34.6% 36.2% (1.7%) PBT 418 247 69.2% 1,377 521 164.3% PAT 303 248 22.2% 627 454 38.1% P
Slide 7: Capital Structure Significantly Strengthened
Capital Structure Significantly Strengthened On track to deleverage further and optimize costs through structured deals; significant debt reduction happened during past 3.5 years when the company was facing challenges and real estate sector was also in turmoil. External Debt (INR Mn) Debt/Equity (x)
Slide 8: SEZ Update: Strategic Partnership with Tishman Speyer
SEZ Update : Strategic Partnership with Tishman Speyer Strategic alliance for development of GHCL’s SEZ - 1st Phase of commercial development of 1.2 Mn Sq Ft Synergistic Partnership o Collaboration for SEZ development o Lease Management o Product Innovation Superior Capabilities International Standa
Slide 9: Projects Update: Malabar County
Projects Update Malabar County 3 – construction update o Project Update – 100 % completed, moving towards early delivery o Bookings – 100% booked o Use of precast construction technology for efficient and prompt delivery 8
Slide 10: Projects Update: Malabar Exotica
Projects Update Malabar Exotica – construction update ~1f~_:: ~- ·. ~r•·\_ ,{~~ ~ - ~ : --------------------------------------------------------------------------------------------------------------------------------------------------- o Project Update – 40 % completed, moving towards early delivery
Slide 11: Corporate Presentation
C O R P O R A T E P R E S E N T A T I O N
Slide 12: Snapshot: A Leading Real Estate Developer in Gujarat
Snapshot : A Leading Real Estate Developer in Gujarat ) ···········:······:···- ··•.•.-- - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - (,~~;) Premium Ahmedabad focused developer with strong & differentiated brand that allows leadership position .) · · :··· · · ··~ .... - - - - - - - - -
Slide 13: Vision and Mission
Vision and Mission Content Here I VISION Easy to change colors, photos and Text. 52% MISSION “To be the most trusted, transparent, and “To continuously innovate and use the admired real estate developer” latest technology to provide high-quality spaces to our customers” “To set up and build standard
Slide 14: Our Journey So Far
Our Journey So Far Early Phas e & IPO Fund Rais ing Robus t Execution Scaling Up… (1991-2004) ) (2004-2009) ) (2009-2014) ) (2014-2020) • Bonus issue 2:1 (2006) • Delivered 17 msf. • Highest ever cash flow of INR 2,800 Mn; crossed • NSE listing in 2007. • Turnover of more than INR turnover of INR 3,
Slide 15: What Sets Us Apart
What Sets Us Apart Future Ready Transparent and Trustworthy Strategic Project Locations Top Quality Infrastructure Professionally Managed and Amenities Strong Brand Equity Focused on Deleveraging & Superior Reputation Innovative Planning Use of Technology – I-homes, Home Timely Delivery GANESH~ Auto
Slide 16: What we Have Achieved and What's Next
What we Have Achieved and What’s Next Particulars Completed Projects Ongoing Projects Planned Projects No. of projects Around 20 2 6 Residential - 16 Residential - 4 Type of projects Residential – 2 Commercial – 4 Commercial – 2 Area in msf 22 0.8 7.36 Actual/Exp. Completion Date Till now Feb’21 - J
Slide 17: Strategic Priorities
Strategic Priorities Being more aggressive towards Building a team for the future, Building both commercial and retail Strengthenin segment, widen customer base g Pos ition focused approach towards Internal across price points and locations team reorganization and reorientation Organization Retainin
Slide 18: Way Forward: Plan, Prepare and Proceed
Way Forward : Plan, Prepare and Proceed What we will Achieve Sustainable growth and value creation for all the stakeholders Proceed Proceed with a larger, more efficient, and Prepare collective group. The This is what drives recent consolidation our everyday has ensured creation Plan strategy; prepa
Slide 19: Investment Thesis
I N V E S T M E N T T H E S I S
Slide 20: Key Investment Highlights
Key Investment Highlights 1 • Well Established Brand; Strong Transparency 2 • Proven Execution Track Record; Superior Planning 3 • Well Positioned in Growing Real Estate Market of Ahmedabad 4 • Robust pipeline of ongoing and new projects; Strong Revenue Visibility 5 • Balance Sheet Strengthening 6 •
Slide 21: Well Established Brand; Strong Transparency
1 Well Established Brand; Strong Transparency Ganesh Housing Corporation Limited (‘GHCL’) is the flagship company of Ganesh Group; listed since 1993 Leading residential developer across mid and higher income segment; Enviable track record of identifying several high potential locations and conve
Slide 22: Proven Execution Track Record
2 Proven Execution Track Record Maple Tree: Speed of execution to enhance shareholder value Feb’15 Apr’15 Apr’16 Apr’17 Jan’19 Land of ~ 10 acres Project launched Significant progress Construction work Completion identified and construction made in less than completed in two start one year towers A
Slide 23: Ahmedabad: A Key Real Estate Hub in Gujarat
3A Ahmedabad: A Key Real Estate Hub in Gujarat Key Market of Gujarat Highly A ffordable Ahmedabad Residential Real Estate Market Launches Sales Ahmedabad attracts around 40% of In 2021, Ahmedabad emerged as the most total real estate investment in affordable housing market in India, among its 12,000
Slide 24: Significant Land Reserves for Future Growth
3B Significant Land Reserves for Future Growth - . ~: ,,__ - - ·- ,.,, ~ ~500 acres of land reserves in "-" -,_~,. f strategic locations across Ahmedabad 36 msf of development potential Ability to take advantage of favourable market conditions by launching projects quickly without having to ac
Slide 25: Robust Pipeline of Ongoing and New Projects
4 Robust Pipeline of Ongoing and New Projects Launch within 6-12 month Launch within 12-24 month Launch within 24-36 month Large and diversified upcoming portfolio for Expected Sales Value/ balanced cash flow Capitalized Value (INR mn) Saleable/Leasable Area-msft Ongoing/upcoming projects in key
Slide 26: Strong Leadership Team
6 Strong Leadership Team Dipak Kumar Patel - Chairman Shekhar Patel – MD & CEO Pankaj Teraiya – President Associated with GHCL since 1991; Veteran with an experience of over (Projects) 01 leading the land related matters and 02 25 years; leading day to day 03 BE Civil with an experience of over 27 g
Slide 27: Consolidated Income Statement (Historical)
Consolidated Income Statement (Historical) Particulars (INR mn) FY 22 FY 21 FY 20 FY 19 FY 18 Revenue 3,849 1,820 2,773 2,672 5,082 EBITDA 1,355 (377) (504) 770 2,031 1 EBITDA (%) 35.2% (20.7%) (18.2%) 28.8% 39.9% Depreciation 20 17 21 23 26 EBIT 1,335 (394) (525) 747 2,005 Interest 363 748 799 917
Slide 28: Balance Sheet (Historical)
Balance Sheet (Historical) Particulars (INR mn) FY 22 FY 21 FY 20 FY 19 FY 18 Equity Share Capital 834 492 492 492 492 Reserves & Surplus 7,064 4,528 5,750 6,980 8,400 Minority Interest 870 871 931 927 927 Shareholder’s Equity 8,768 5,891 7,173 8,399 9,819 Borrowings 1,377 3,393 4,944 6,486 6,770 Ot
Slide 29: Cash Flows and Ratios (Historical)
Cash Flows and Ratios (Historical) Particulars (INR mn) FY 22 FY 21 FY 20 FY 19 FY 18 Operating Cash Flow excl. WC 1,341 (658) (663) (469) 1,470 Working Capital Changes (931) 1,980 1,890 1,761 (717) Investment Activities 394 434 531 841 260 Financing Activities (852) (1,726) (2,022) (2,162) (1,045)
Slide 30: Thank You
THA NK Y O U