Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — FY2010 Earnings Presentation
25 slides from Godrej Properties's earnings presentation, May 17, 2010
Slide 1: Results Presentation Fourth Quarter and Financial Year 2010
RESULTS PRESENTATION Fourth quarter and Financial Year 2010
Slide 2: Disclaimer
DISCLAIMER Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operation
Slide 3: Contents
CONTENTS Company overview Corporate information Financial performance analysis Projects information Sector update & company outlook Annexure
Slide 4: Overview
OVERVIEW
Slide 5: Godrej Properties Overview
GODREJ PROPERTIES OVERVIEW Part of the Godrej Group • Established in 1897 • US $ 2.8 billion in revenues • 25,000 employees • Diversified, accomplished, trusted • Real estate is a major focus and has been identified as one of four hero businesses of the Group Pan – India presence • Established in 19
Slide 6: Value Creation
VALUE CREATION Leverage the Godrej Brand • Among India’s most trusted brands • Ranked the 4th best brand in India by The Week magazine Focus on execution • Strategic partnerships with development process service providers • Focus on Customer Centricity Differentiated business model • Capital efficie
Slide 7: Corporate Information
CORPORATE INFORMATION
Slide 8: Highlights
HIGHLIGHTS GPL witnessed considerable momentum in sales in FY 2010 • Approximately 1.89 mn sq. ft. of area was booked during the year. • 3.9 mn sq. ft. of developed area handed over in FY 2010, significant compared to 3.7 mn sq. ft. delivered from inception until FY 2009. • The Company is well place
Slide 9: Financial Performance
FINANCIAL PERFORMANCE 2010
Slide 10: Financial Statements – P&L
FINANCIAL STATEMENTS – P&L INR Million Q4 Q4 Particulars FY 2010 FY 2009 % change % change FY 2010 FY 2009 Sales & operating 3,134.3 2,555.2 22.7 1,709.6 799.5 113.8 income Other income 1,426.4 421.1 238.7 726.0 215.2 237.4 Total Income 4,560.8 2,976.3 53.2 2,435.5 1014.7 140.0 EBIDTA 2,312.1 1,627.
Slide 11: Financial Statements – Balance Sheet
FINANCIAL STATEMENTS–BALANCE SHEET INR Million Particulars 31-Mar-10 31-Mar-09 Liabilities Capital 698.5 604.2 Reserves & surplus 7,474.2 2,384.5 Loan 7,095.8 6,563.4 Minority interest 29.7 16.8 Total liabilities 15,298.2 9,568.9 Assets Fixed assets 278.3 392.0 Investments 2,078.1 0.03 Deferred tax
Slide 12: Performance Analysis
PERFORMANCE ANALYSIS Key ratios Ratio 31-Mar-10 31-Mar-09 ROCE (Avg. CE) 18.15% 21.97% ROE (Avg. Equity) 21.40% 27.67% Gross Debt (in Rs million) 7095.82 6563.42 Net Debt / Equity 0.55 2.20 Comments • Net Debt stands at Rs 4,518 million • Highly comfortable with current debt levels • The Company wou
Slide 13: Performance Analysis
PERFORMANCE ANALYSIS GPL delivered a healthy performance in FY 2010 on the back of increased sales and completion • Delivered 3.9 mn sq. ft. area during FY10 Total Income was 53.2% higher on y-o-y basis and major projects contributing to the top-line are: Project Area Sold (mn. sq. ft.)* Booking Val
Slide 14: Performance Analysis
PERFORMANCE ANALYSIS Operating Profit of Rs 2,312.1 million in FY 2010 as compared to Rs 1,627.9 million in FY 2009; a growth of 42.0% • Volumes from two new launches, Garden City & Prakriti, contributed meaningfully to operating profits. • EBITDA for Q4 FY2010 stood at Rs 889.6 million as compared
Slide 15: Projects
PROJECTS
Slide 16: National Presence
NATIONAL PRESENCE City Est. Total Dev Area (mn sq ft) Ahmedabad 40.43 Pune 12.32 Chandigarh Hyderabad 9.6 Kolkata 6.93 Mumbai 3.69 Ahmedabad Chennai 3.23 Kolkata Mumbai Pune Kochi 2.52 Hyderabad Bengaluru 2.51 Mangalore 0.83 Mangalore Bangalore Chandigarh 0.68 Chennai Kochi Total 82.74 16 I Godrej P
Slide 17: Key Projects
KEY PROJECTS Godrej Garden City, Ahmedabad • GPL launched it’s first state of the art township in Ahmedabad in March 2010 • Project received an overwhelming response • Booked approximately 1.3 mn sq. ft. of area within 10 days of the launch • Phase II expected to be launched in Q1 FY 2011 Godrej Pra
Slide 18: Project Status
PROJECT STATUS Name Location Project type Est. Saleable Area Current status (mn sq ft) Godrej Prakriti Kolkata Residential mixed use 3.14 Infrastructure and basement work Godrej IT SEZ Hyderabad IT park 5.09 Pre development planning Godrej Eternia Chandigarh Commercial & retail 0.50 Basement in prog
Slide 19: Sector Update & Company Outlook
SECTOR UPDATE & COMPANY OUTLOOK
Slide 20: Sector Update
SECTOR UPDATE The Real Estate sector recovered better than expected in FY10 The Residential segment experienced a marked recovery brought about by strong end user Interest. • Strong recovery in Tier-1 cities (Mumbai, Bangalore & NCR), especially in the mid income segment. • Affordable and mid-income
Slide 21: Company Outlook
COMPANY OUTLOOK Focus on high growth markets-Mumbai, Bangalore and NCR • Mumbai – pursuing several new business and redevelopment opportunities across the city. • Bangalore - evaluating opportunities and looking to build on an established track record. • NCR – pursuing several new business opportuni
Slide 22: Thank You For Your Time And Consideration
THANK YOU FOR YOUR TIME AND CONSIDERATION. For further information, please contact: Rajendra Khetawat / Amit Kumar/ Karan Bolaria Anoop Poojari / Parveen Goyal Godrej Properties Limited Citigate Dewe Rogerson Tel: +91 22 6651 0200 Tel: +91 22 4007 5006 / 5031 Fax: +91 22 2207 2044 Fax: +91 22 2284 4
Slide 23: Annexure
ANNEXURE
Slide 24: A. Residential Projects
A. RESIDENTIAL PROJECTS Name Location Project type Est. Saleable Share structure Area (mn sq ft) Apartment/ Villas Godrej Garden City Ahmedabad 26.28 Area Sharing - 67.6% / Row Houses Apartment/ Villas Share in SPV - 10%; DM Pune Township Pune 9.44 / Row Houses Fee 162/ sq ft Chennai Project – I Che
Slide 25: B. Commercial Projects
B. COMMERCIAL PROJECTS Est. Saleable Name Location Project type Share structure Area (mn sq ft) Commercial office space, Own. 51% Share in SPV Godrej Prakriti Kolkata 0.40 Retail, Hospital GPL owns 51% profit share Godrej Genesis Kolkata IT park 1.30 of 62% area share Commercial office space, GPL ow