Puravankara Limited · NSE:PURVA
Puravankara — Q1 FY2015 Earnings Presentation
48 slides from Puravankara's earnings presentation, June 2014
Slide 1: Puravankara Projects Limited
Puravankara Projects Limited June 2014
Slide 2: Contents
Contents • Company Overview 3-9 • Area information 10 - 17 • Sales 18 - 20 • Cash Flows 21 - 23 • Income Statement Analysis 24 - 28 • Balance Sheet and Statement of Capital Employed 29 - 31 • Debt 32 - 33 • Shareholding Pattern/ Stock Movement 34 - 36 • Leadership 37 • Location Maps 38- 42 • Project
Slide 3: Company Overview
PURAVANKARA Company Overview
Slide 4: Overview
Overview • Deep domain knowledge of 39 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 Assets across various established micro-markets
Land Assets across various established micro-markets Land portfolio Developable area breakup in millions sq. ft. (msft) Completed Ongoing Upcoming Land Assets Total (A) (B) (C) (A)+(B)+(C) Bengaluru 17.48 15.98 11.00 39.58 66.56 Chennai 2.27 5.79 3.24 4.66 13.69 Kolkata 0.70 - - - - Kochi 1.74 0.39
Slide 7: Ongoing Development
Ongoing Development By geography By entity By segment Hyderabad 2%; 0.5msft Commercial Provident Kochi 2%; 0.4msft Mangalore 2%; 0.4msft 5%; 1.3msft 35%; 8.8msft Coimbatore 9%; 2.4msft Chennai 22%; 5.8msft Bengaluru 63%; 16.0msft Puravankara Residential 65%; 16.7msft 95%; 24.21msft Total= 25.51 msft
Slide 8: Upcoming Development
Upcoming Development By geography By entity By segment Provident 17%; Commercial Hyderabad 4.1 msft 6%; 1.5msft 9%; 2.2msft Chennai 14%; 3.2msft Bengaluru Kochi 47%; 11msft 30%; 7.1msft Puravankara 83%; 19.5msft Residential 94%; 22.0 msft Total=23.54 msft Note: 1. Provident is exploring new opportun
Slide 9: Summary of Financial Performance
Summary of Financial Performance Revenues (INR crores) EBITDA Profit Before Tax Profit After Tax 700 70% 400 356 40% 300 35% 1,313 595 1,248 61% 350 36% 35% 600 397 60% 250 30% 30% 480 300 196 30% 500 49% 48% 50% 29% 243 243 25% 47% 200 250 24% 24% 25% 816 400 40% 20% 19% 20% 294 37% 200 175 20% 150
Slide 10: Area Information
PURAVANKARA Area Information 10
Slide 11: Area Under Development – Snapshot
Area Under Development – Snapshot in millions sq. ft. (numbers in millions sq. ft.) FY11 FY12 FY13 FY14 Q1 FY15 Opening Area 16.35 21.12 23.74 28.04 28.43 Add: Launches during the year/quarter 1 7.32 5.80 7.28 4.26 0.55 Less: Completed during the year/quarter 2 (2.55) (3.18) (2.98) (3.87) (1.24) Les
Slide 12: Current Project Status – 30 June 2014
Current Project Status – 30 June 2014 S.No. Project Location Developable Total JD / JV Puravankara's On Area Launched Area Flats Share for Share - Developer Developable Area Area Area Sold Inventory Launched Cumulative Msft Units % Msft Msft Msft % Nos Mn sft % COMPLETED Puravankara 1 Venezia Yelaha
Slide 13: Current Project Status – Nearing Completion
Current Project Status – 30 June 2014 – (contd.) S.No. Project Location Developable Total Flats JD / JV Puravankara's On Area Launched Area Share for Share - Developer Developable Area Area Sold Cumulative Inventory Area Launched Msft Units % Msft Msft Msft % Nos Mn sft % NEARING COMPLETION Puravank
Slide 14: Current Project Status – Under Construction
Current Project Status – 30 June 2014 – (contd.) S.No. Project Location Developable Total JD / JV Puravankara's On Area Launched Area Flats Share for Share - Developer Developable Area Area Sold Cumulative Inventory Area Launched Msft Units % Msft Msft Msft % Nos Mn sft % UNDER CONSTRUCTION Puravank
Slide 15: Current Project Status – Phases to be Launched
Current Project Status – 30 June 2014 – (contd.) S.No. Project Location Developable Total JD / JV Puravankara's On Area Launched Area Flats Share for Share - Developer Developable Area Area Area Sold Cumulative Inventory Launched Msft Units % Msft Msft Msft % Nos Mn sft % PHASES TO BE LAUNCHED Purav
Slide 16: Geographic break up of Inventory Status
Geographic break up of Inventory Status Completed - Total Completed - By Entity Chennai 0.39 msft; 231 units Provident 0.77 msft; 727 Bengaluru units Puravankara 0.99 msft; 855 1.17 msft; 661 Kochi units units 0.56 msft; 302 units Nearing Completion - Total Nearing Completion – By Entity Chennai 0.3
Slide 17: Immediate Launches - Schedule
Immediate Launches - Schedule Development Developable PPL Share Saleable Expected S. No Location City Development Model Current Status Type Area in JD Area Launch Date Msft Msft Puravankara 1 Pudupakkam Chennai Own Residential 2.00 100% 2.00 Final stage of Plan approval Q3 - FY15 2 UM Kaval Bengalur
Slide 18: Sales
PURAVANKARA Sales 18
Slide 19: Sales – Q1 June 2014
Sales – Q1- 30 June 2014 Based on Bookings Quarter Ended Area Sold Units Sold Sale Value Sale Realization Jun-14 Jun-13 % Jun-14 Jun-13 % Jun-14 Jun-13 % Jun-14 Jun-13 % msft msft Nos. Nos. Rs. Crores Rs. Crores Rs.psft Rs.psft Puravankara 0.52 0.39 33% 358 244 47% 284 166 71% 5,408 4,227 28% Comple
Slide 20: Sales Breakup
Sales Breakup Q1 By Enity Q1 By Geography Kochi 1%; 0.01msft Coimbatore Mangalore 7%; 0.05msft 1%; 0.01msft Provident 25%; 0.18msft Chennai 18%; 0.12msft Puravankara Bengaluru 75%; 0.52 msft 73%; 0.51msft 20
Slide 21: Cash Flows
PURAVANKARA Cash Flows 21
Slide 22: Cash Flow – Summary
Cash Flow – Summary Rs. crores Puravankara Provident Total Balance collections from sold units 1 (A) 1,267 431 1,698 Inventory 2 (B) 5,307 2,408 7,715 Residential 4,679 2,408 7,087 Launched 3,359 1,096 4,455 Not Launched 1,320 1,312 2,632 Commercial 628 - 628 Balance cost to go 3 (C) 2,437 1,457 3,8
Slide 23: Cash Flow Statement
Cash Flow Statement Rs. crores Q1 FY 15 Q4 FY14 FY 2014 Receipts Collection from Sale of Flats 294 321 1,284 Advance recd for sale of land 162 0 16 Equity Redemption and Dividend from Associates - 41 41 A Total Receipts 455 362 1,340 Expenses Construction Cost incurred (235) (191) (759) Employee Cos
Slide 24: Income Statement Analysis
Income Statement Analysis 24
Slide 25: Income Statement – Summary
Income Statement – Summary Recognised in Q1FY2015 (from projects) Rs. Crores Puravankara Provident Others Total Revenue Recognised 1 (A) 336 68 53 457 Land Cost Recognized (B) 115 4 19 138 Construction Costs Recognised 2 (C) 134 48 (35) 147 Surplus (A) – (B) – (C) 87 16 69 172 Unrecognised as at 30/
Slide 26: Result Highlights
Result Highlights Rs. crores Q1FY15 Puravankara Provident Starworth Other Subsidiaries and Eliminations Consolidated Total Revenues 350 77 44 3 474 YoY growth (%) 38% -31% 22% 28% Profit Before Tax 53 2 4 24 83 YoY growth (%) 17% -96% -8% -19% margins (%) 15% 3% 9% 18% Profit After Tax 39 1 3 15 58
Slide 27: Consolidated Statement of Profit and Loss for the quarter ended 30 June 2014
Consolidated Statement of Profit and Loss for the quarter ended 30 June 2014 Rs. crores 30 Jun 2014 30 Jun 2013 31 Mar 2014 Income Revenue from operations Revenue from projects 458 367 371 Other operating revenues 4 2 4 Other income 12 0 0 Total 474 369 375 Expenses Material and contract cost 183 13
Slide 28: Key Financial Indicators
Key Financial Indicators Valuation Matrix (X) Q1 FY15 FY 2014 FY 2013 FY 2012 Income Statement (INR crores) Q1 FY15 FY 2014 FY 2013 FY 2012 Price/Earnings 11.28 9.95 7.97 10.71 Total Income 474 1,313 1,248 816 Price /BV 1.18 0.74 1.02 0.86 EBITDA from Operations 149 480 595 397 EV/EBITDA 6.95 6.54 5
Slide 29: Balance Sheet and Statement of Capital Employed
Balance Sheet and Statement of Capital Employed 29
Slide 30: Balance Sheet as of June 2014
Balance Sheet as of 30 June 2014 Rs. crores June March June March Equity and Liabilities Assets 2014 2014 2014 2014 Shareholders' Funds Non-Current Assets Share capital 119 119 Fixed assets 91 92 Reserves and surplus 2,112 2,055 Non-current investments 70 71 2,230 2,173 Properties held for developme
Slide 31: Statement of Capital Employed
Statement of Capital Employed Rs. crores 30-Jun-14 31-Mar-14 Sources of Funds Equity 119 119 Reserves and Surplus 2,112 2,230 58% 2,055 2,173 56% Total Debt 1,620 42% 1,695 44% Total 3,850 100% 3,868 100% Application of Funds Land Investments 70 91 Properties held for development 750 743 Advances fo
Slide 32: Debt
PURAVANKARA Debt 32
Slide 33: Debt Structure – June 2014
Debt Structure – June 2014 Term Loans/Construction Finance by Over Drafts at interest Subsidiaries at interest rate of 13.97, 111 , rate of 14.21, 235 , 7% 15% Term Loans/Construction Inter Corporate Finance at interest Deposit at interest rate of 12.85, 1,239 , rate of 16.5, 35 , 2% 76% Debt Moveme
Slide 34: Shareholding Pattern
PURAVANKARA Shareholding Pattern 34
Slide 35: Shareholding Pattern – as at June 2014
Shareholding Pattern – as at 30 June 2014 Promoters- 75% FIIs- 12.99% Mutual Funds- 6.54% Dls- 1.32% Individual and Others- 4.15% Notes Promoter Shares are unencumbered Key Shareholders Mutual Funds FIIs Insurance and Bodies Corporate SBI AMC HSBC Life Insurance Corporation Reliance Capital College
Slide 36: Stock Movement
Stock Movement Puravankara outperformed BSE Realty Index during July 1 ,2013 to June 30, 2014 Jul/13 Aug/13 Sep/13 Oct/13 Nov/13 Dec/13 Jan/14 Mar/14 Apr/14 May/14 Jun/14 Puravankara Sensex BSE Realty Index As on 30-Jun-14 31-Mar-14 31-Dec-13 30-Sep-13 30-Jun-13 Price on BSE 111 68.25 80 73.25 86.6
Slide 37: 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 38: Bengaluru location map
Bengaluru location map Sl. No. Project Name 1 Highlands/High Crest, Mallasandra 2 Mid-Town, KR Puram 3 Seasons, CV Raman Nagar 4 Sunflower, Magadi Road 5 Skywood, Sarjapur Road 6 Whitehall, Sarjapur Road 7 Harmony, Thannisandra Road 8 Welworth City, Doddaballapur Road 9 Sunworth, Mysore Road 10 Gain
Slide 39: 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 Pudupakkam Current Projects Immediate Launches Note: Map not to scale 39
Slide 40: 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 40
Slide 41: Coimbatore location map
Coimbatore location map Sl. No. Project Name 1 Bluemont/Amaiti, Trichy Road 2 GreenPark, Selvapuram Current Projects Note: Map not to scale 41
Slide 42: Mangalore and Hyderabad location maps
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 42
Slide 43: Project Pictures
PURAVANKARA Project Pictures | SERCEPEERE EB ARERR R REE BB BS U PROVIDENT My PRovIOENT Sunworth Derebail, Mangalore 43
Slide 44: Project Pictures
PURAVANKARA Project Pictures (|| |. PURVA windermere COCCERS a \CCCCLLELLL AY AAAS g Wy PURVA Bluemont RTRCEELELULELL ae \AVSDEDEDED ERED Y
Slide 45: Project Pictures
PURAVANKARA Project Pictures Ti 3S i : PURVA Hi ghl 45
Slide 46: 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 47: 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 48: 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 48