42 slides from Mahindra Lifespace Developers's earnings presentation, May 14, 2020
Slide 1: Regulation 30 intimation letter to stock exchanges
Date: 14th May, 2020 To, BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai 400051 Listing: http://listing.bseindia.com Listing: https://www.connect2nse.com/LIST
Slide 2: Investor Presentation – Q4 FY20
ARTIST’S IMPRESSION OF HAPPINEST KALYAN Investor Presentation – Q4 FY20 1
Slide 3: Contents
Contents ▪ Key Highlights ▪ Residential Business Update ▪ Integrated Cities & Industrial Clusters Update ▪ Financial Update 2
Slide 4: Key Highlights
Key Highlights The operating highlights from Slide 4 to Slide 25 are for the Company and its subsidiaries / joint ventures / associates engaged in the real estate business (mainly MLDL, MHPL, MBDL, MITL, MRDL, MHDL, MWCDL, MWCJL, MIPCL & MIPPL) Disclaimer: The Company has registered its ongoing proj
Slide 5: Key Highlights
Key Highlights RESIDENTIAL IC & IC Sales (in Rs Crs) FY | Q4 FY | Q4 818# | 397 MWC, Jaipur acres 23.3 | 14.3 FY | Q4 Collections (in Rs Crs) 930 | 197 FY | Q4 MWC, Chennai* acres 1.2 | 1.0 Completions** (msft) FY | Q4 1.07 | 0.18 Handovers FY | Q4 Origins, Chennai acres FY | Q4 1,222 | 227 15.1 | 7
Slide 6: Awards and Recognition
Awards and Recognition Antheia (Pune) received the ‘First in housing category in the Swachh Bharat drive” by Pimpri Received ‘Corporate Chinchwad Muncipal Corporation Governance and Sustainability Vision Award in two categories –Sustainable Performance and Corporate Social Awarded ‘Green Excellence
Slide 7: Financial Highlights
Financial Highlights All figures in Rs. Crs For MLDL Consolidated Q4 FY20 Q3 FY20 Q4 FY19 (As per IND AS) Total Income 111 85 247 PAT# -224 2 31 For MLDL Consolidated FY20 FY19 (As per IND AS) Total Income 646 654 PAT# -193 120 Net Debt 99 -66 Net Worth 1701 1930 # Mahindra Homes Private Limited (MH
Slide 8: Business Overview
Business Overview Residential Integrated Cities & Industrial Clusters Mid and Premium Affordable Integrated Cities Industrial Clusters Residential Housing Brand: Brand: Brand: Brand: Development Development Gross Area Gross Area Footprint** 22.13 Footprint** 3.14 4437 629 msft msft acres acres Compl
Slide 9: Residential Business Update
Residential Business Update 8
Slide 10: Sales – Annual Trend
Sales – Annual Trend 1,500 1.69 1.80 1,300 1.60 1.41 1.40 1,100 1.18 1.16 1,023 1.20 900 836 0.90 1.00 818 700 0.80 611 500 536 0.60 300 0.40 100 0.20 (100) FY16 FY17 FY18 FY19 FY20# - Sales Value (Rs. Crs) Saleable Area (msft) Launches* msft 0.99 0.58 1.17 1.55 0.92 Compl~ etions* msft 3.29 0.93 0.
Slide 11: Sales – Quarterly Trend
Sales – Quarterly Trend 0.75 0.65 407 397 0.26 0.19 0.22 196 120 106 Q4 FY19 Q1 FY20 Q2 FY20* Q3 FY20* Q4 FY20 Sales Value (Rs. Crs) Saleable Area (msft) Launches Centralis Vicino I Avadi VI (Block B) Bloomdale IVA & IVC Happinest Kalyan Luminare I #, Antheia IIIB Antheia IIIC Windchimes II Bloomdal
Slide 12: Sales - City and Price Segment wise
Sales - City and Price Segment wise Q4 FY20 City-wise Sales (Volume) Q4 FY20 City-wise Sales (Value) 6% MMR 10% MMR 9% Pune 6% Pune 1% 2% 4% 3% Nagpur Nagpur 3% 4% NCR NCR Chennai Chennai Bengaluru Bengaluru 78% 76% Q4 FY20 Price Segment-wise Sales (Volume) Q4 FY20 Price Segment-wise Sales (Value) 6
Slide 13: Operating Metrics
Operating Metrics Collections & Construction Spend (Rs. Crs) Completions & Launches (msft) 301 1.0 258 0.9 234 241 197 0.5 0.43 103 104 0.3 62 68 55 0.18 0.16 0.02 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Customer Collections Construction Spend Completions Laun
Slide 14: Project Portfolio
Project Portfolio Saleable Area (msft) # Location Ongoing Forthcoming Land Inventory MMR** 1.52 1.26 0.94 Pune 0.50 0.68 - Nagpur 0.56 - - NCR* 0.41 0.37 - Bengaluru - 0.74 - Chennai 0.62 1.17 9.50 Total 3.59 4.23 10.44 Total Completed Development – 17.46*** msft * NCR includes Delhi, Gurgaon and Fa
Slide 15: Summary of Ongoing and Forthcoming Projects
Summary of Ongoing and Forthcoming Projects Total Launched Completed Ongoing Balance (To Company / Region Project Name Development Development Development Development be launched) SPV A B C D E = (A-C-D) MMR Roots MLDL 0.14 0.14 - 0.14 - Vicino MLDL 0.26 0.07 - 0.07 0.19 Sakinaka # MLDL 0.34 - - - 0
Slide 16: Development mix of Ongoing Projects
Development mix of Ongoing Projects Indicative Area Range Region Project Name Location Segment Development Mix Prices Saleable (sqft) (Rs. Crs) MMR Roots Mumbai Mid-Premium 1 & 2 BHK 740 - 1239 1 - 1.5 Vicino Mumbai Mid-Premium 1, 2 & 3 BHK 754 - 2137 1.5 - 3.9 Serenes Alibaug Luxury 3, 4 BHK Villas
Slide 17: Summary of Ongoing Projects
Summary of Ongoing Projects Launched PTD Area PTD Sales RERA Location Project Name 1 Sold % Completion** Value Completion Development (msft) (msft) (Rs. Cr) Date*** MMR Roots 0.14 0.09 59% 114.1 Sep-22 Vicino I 0.07 0.03 64% 54.2 Mar-24 Happinest Kalyan I 0.33 0.22 34% 116.1 Dec-23 Happinest Kalyan
Slide 18: Forthcoming Projects
Forthcoming Projects Est. Saleable Area Location Name of the Project msft Subsequent Phases of Existing Projects Vicino 0.19 MMR Serenes 0.09 NCR Luminare # 0.37 Aqualily 0.07 Chennai Lakewoods 0.62 Happinest Avadi 0.08 TOTAL - Subsequent Phases of Existing Projects 1.41 New Projects Sakinaka # 0.34
Slide 19: Balance Inventory in Completed Projects
Balance Inventory in Completed Projects Balance units Balance area Location Project Name Company MLDL Holding to sell * to sell (msft) * Happinest Boisar MLDL 100% 101 0.05 MMR Happinest Boisar CFC MLDL 100% 5 0.03 Vivante MLDL 100% 1 0.00 Pune Antheia MLDL 100% 7 0.01 Nagpur Bloomdale MBDL 100% 5 0
Slide 20: Cash Flow Potential
Cash Flow Potential Value Particulars ( Rs. Cr) Ongoing & Completed Sales completed in ongoing projects 1330 Projects Less : Amount collected from sales 408 Net amount to be collected on completed sales (A) 922 Estimated sales from finished goods & balance inventory in ongoing projects # 1108 Less:
Slide 21: Integrated Cities & Industrial Clusters Update
Integrated Cities & Industrial Clusters Update 20
Slide 22: Mahindra World City, Chennai – Business Update
Mahindra World City, Chennai – Business Update • Total number of customers: 81 (66 Operational) Total Area Procured – 1524 acres | Leasable Area – 1145 acres • 1.76 acres leased during Q4 FY20 425 425 422 420 ✓ Tons n Treads India Pvt Ltd (Retail) 1 acre 298 273 ✓ Individual Clients 0.76 acres (Outs
Slide 23: Mahindra World City, Jaipur – Business Update
Mahindra World City, Jaipur – Business Update Total Area Procured – 2913 acres | Leasable Area – 2011 acres • Total number of customers: 93 (64 Operational) • 14.25 acres leased during Q4 FY20 1026 ✓ Vetromed Pvt Ltd (Social Infra) 1.44 acres 695 ✓ Programmers IO (SEZ) 2.81 acres ✓ Bhagwati Resorts
Slide 24: Creating Economic Value
Creating Economic Value Mahindra World City Chennai* Mahindra World City Jaipur 12,876 40,000 11,334 39,500 39,500 10,230 8,396 8,300 38,000 38,000 9,359 10,202 11,428 12,683 10,280 1,128 1,245 1,311 1,552 1,281 FY16 FY17 FY18 FY19 9M FY20 FY16 FY17 FY18 FY19 FY20 Exports (Rs. Crs.)* Employment (Dir
Slide 25: Industrial Parks – Origins, Ahmedabad & North Chennai
Industrial Parks – Origins, Ahmedabad & North Chennai 340 289 Area in acres 221 209 38 0 Ahmedabad North Chennai Gross Area Leasable Area* Leased Area Ahmedabad Project Details: (Ongoing) North Chennai Project Details: (Ongoing) – SPV Name: MIPPL – SPV Name: MIPCL – Location: Village Jansali, on NH
Slide 26: Recurring Rental Income
Recurring Rental Income Recurring Income & Expenses (Rs. Crs) Evolve, MWCJ 21 22 19* 17 Total area 0.431 msft 12 11 Area leased 0.375 msft 10 8 9 Mahindra Towers, Delhi Total area 0.056 msft Income Expenses Income Expenses Income Expenses Income Expenses Income Expenses Q4 FY19 Q1 FY19 Q2 FY20 Q3 FY
Slide 27: Financial Update
Financial Update 26
Slide 28: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated ▪ Statement of Profit and Loss All figures in Rs. Crs Particulars Q4 FY20 Q3 FY20 Q4 FY19 FY20 FY19 Income Income from Operations 101.4 78.8 234.3 610.9 592.8 Other Income 9.4 6.2 12.6 35.0 61.0 110.8 85.0 246.9 645.9 653.9 Expenditure Operating Expenses 93.5 6
Slide 29: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated ▪ Balance Sheet All figures in Rs. Crs EQUITY & LIABILITIES FY20 FY 19 ASSETS FY20 FY 19 Property, Plant and Equipment 11.0 7.6 Equity Share capital 51.4 51.4 Capital work-in-progress 12.2 9.8 Other Equity 1,649.9 1,878.2 Investment Property 20.9 21.4 Networth
Slide 30: Key Highlights
Key Highlights Total Income (Rs. Crs) Operating Income (Rs. Crs) 330 324 247 234 120 111 106 101 85 79 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 EBITDA (Rs. Crs) and EBITDA Margin PAT (Rs. Crs) and PAT Margin 16.0% 16.0% 50 31 50.0% 6.0% 7.0% 13 10.7% 16 4.8% 12
Slide 31: Key Highlights
Key Highlights Gross Debt Equity Ratio Net Debt Equity Ratio 0.05 0.03 0.02 0.14 0.13 0.12 0.12 0.10 -0.03 -0.03 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Interest Rate 9.08% 9.07% 8.85% 8.73% 8.66% Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Interest rate has been
Slide 32: Residential and IC & IC Business Performance
Residential and IC & IC Business Performance 31
Slide 33: Summary of Key Financials by Legal Entities for Q4 FY20
Summary of Key Financials by Legal Entities for Q4 FY20 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total External # Entity Name Interest Income PAT Debt Net Worth MLDL 100.0% 78.3 (253.3) 118.9 1,496.3 MHPL^ 50.0% 71.1 (214.2) 107.3 426.7 MBDL 100.0% 40.4 (2.4) - (3.5
Slide 34: Summary of Key Financials by Legal Entities for FY20
Summary of Key Financials by Legal Entities for FY20 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total External # Entity Name Interest Income PAT Debt Net Worth MLDL 100.0% 520.7 (226.0) 118.9 1,496.3 MHPL^ 50.0% 425.7 (189.4) 107.3 426.7 MBDL 100.0% 99.3 3.4 - (3.5) M
Slide 35: Annexures
Annexures 34
Slide 36: Structure Overview
Structure Overview Note: Overview includes asset owning SPVs only. Shareholding percentage are based on common equity capital in SPVs as on December 2019. Numbers are rounded to the nearest percentage. # MIPPL is a strategic partnership between MLDL and IFC. 35
Slide 37: Management Structure
Management Structure Non-Executive Chairman Arun K Nanda MD & CEO - MLDL CEO – HAPPINEST & COO - MLDL Sangeeta Prasad Arvind Subramanian Mid-Premium Corporate Integrated Cities & Industrial Clusters Happinest Residential Chief Legal Officer and Business Head – South & Business Head – Origins Busines
Slide 38: Completed Projects
Completed Projects Area Area Area Area Location Name of the Project Location Name of the Project (mn sqm) (msft) (mn sqm) (msft) Mumbai Eminente 0.05 0.57 NCR Aura 0.13 1.36 Splendour 0.07 0.78 Luminare I # 0.03 0.37 Vivante 0.01 0.16 Chloris 0.04 0.39 Mahindra Park 0.02 0.19 Central Park 0.11 1.17
Slide 39: Geographic presence of residential business
Geographic presence of residential business Total (msft) Mid-Premium Happinest Completed*: 16.45 1.01 Ongoing**: 2.17 1.42 Forthcoming**: 3.51 0.71 Note: All figures in msft of Saleable / Leasable area Land Inventory**: 10.44 – Total: 32.57 3.14 Completed area includes 1.03 msft of Commercial develo
Slide 40: Glossary
Glossary Classification of projects is as under: a. Completed: projects where construction has been Actis Actis GP LLP completed and occupancy certificates have been DTA Domestic Tariff Area granted by the relevant authorities HDFC HDFC Capital Affordable Real Estate Fund-1 Capital b. Ongoing: proje
Slide 41: Disclaimer
Disclaimer ▪ This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Develo
Slide 42: Thank You
Thank You Investor Relations Contact Mr. Vimal Agarwal Mr. Sumit Kasat Chief Financial Officer General Manager – Finance & Investor Relations Phone : +91-22-67478660 Phone : +91-22-67478645 Email: agarwal.vimal@mahindra.com Email: kasat.sumit@mahindra.com Mahindra Lifespace Developers Limited CIN L4