Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q4 FY2018 Earnings Presentation
44 slides from Prestige Estates Projects's earnings presentation, March 2018
Slide 1: Results for the Q4 & Year Ended 31st March 2018
RESULTS FOR THE Q4 & YEAR ENDED 31st MARCH, 2018 INVESTOR PRESENTATION PRESTIGE GROUP | Presentation | March 2018
Slide 2: Index
INDEX 1 KEY HIGHLIGHTS a)OPERATIONAL HIGHLIGHTS b)FINANCIAL HIGHLIGHTS c)DEALS/TRANSACTIONS 2 OPERATIONAL UPDATE 3 FINANCIAL UPDATE 4 PROJECT PORTFOLIO & UPDATE 5 RECEIVABLES PROFILE 6 GUIDANCE VS ACHIEVED 7 ABOUT PRESTIGE GROUP 8 BOARD & MANAGEMENT 9 ANNEXURE PRESTIGE GROUP | Presentation | March 2
Slide 3: Key Highlights: Operational Performance
KEY HIGHLIGHTS I. OPERATIONAL PERFORMANCE 1. Q4F18 total sales at Rs 12,433Mn up by 96% YoY; FY18 total sales at Rs 33,137 Mn up by 35% YoY 2. Q4F18 total collections at Rs 10,516 Mn, down by 9% YoY; FY18 total collections at Rs 42684 Mn, up by 4% YoY 3. Q4F18 leasing at 0.46 Mn sft ; FY18 leasing a
Slide 4: Key Highlights: Consolidated Financial FY18
KEY HIGHLIGHTS CONSOLIDATED FINANCIAL FY18 1. Q4FY18 total revenue at Rs 18,616Mn, up by 27% YoY ; FY18 total revenue at Rs 55,665 Mn, up by 14% YoY 2. Q4FY18 EBITDA at Rs 3,472 Mn up by 19% YoY ; FY18 EBITDA at Rs 11,619 Mn up by 15% YoY 3. Q4FY18 PAT Rs 1,132 Mn up by 3% YoY ; FY18 PAT at Rs 4,113
Slide 5: Key Highlights FY18: Deals / Business Development Update
KEY HIGHLIGHTS FY18 III DEALS / BUSINESS DEVELOPMENT UPDATE 1. Added three projects with potential area of ~ 9 Mn sft 2. Entry into new markets- NCR & Mumbai 3. Consolidation of stake in a group company, Prestige Projects Private Limited, owning ~183 Acres 4. Acquisition of CapitaLand’s stake in var
Slide 6: Operational Update FY18 Highlights
OPERATIONAL Value in ₹ Million UPDATE Volume in Mnsqft Particulars Q4FY18 Q4FY17 Q3FY18 FY18 FY17 FY18 HIGHLIGHTS New Sales Value 12,433 6,354 6,717 33,137 24,585 New Sales Volume 1.79 0.90 0.98 4.84 3.82 Avg Realization/Sft 6,956 7,035 6,869 6,848 6,441 TOTAL Collections 10,516 11,544 11,928 42,684
Slide 7: Launched Five Residential Projects in Q4F18
LAUNCHED FIVE RESIDENTIAL PROJECTS IN Q4F18 with BUA 7.07 MN SFT PRESTIGE GROUP | Presentation | March 2018 7
Slide 8: Inaugurated Sheraton Grand in Q4F18
INAUGURATED SHERATON GRAND IN Q4F18 With BUA 0.65 MN SFT, 360 Keys PRESTIGE GROUP | Presentation | March 2018 8 site SHERATON GRAND, Shot at
Slide 9: Completed Eight Projects in FY18
COMPLETED EIGHT PROJECTS IN Prestige Q1 FY18 WITH BUA 7.96 Mn sft Trade Tower Q3 Q4 PRESTIGE GROUP | Presentation | March 2018 9
Slide 10: Financial Update
FINANCIAL UPDATE Q4FY18 & FY18 Values are in Million ₹ CONSOLIDATED Particulars Q4FY18 Q4FY17 Q3FY18 FY18 FY17 Turnover 18,616 14,633 12,902 55,665 48,617 EBIDTA 3,472 2,911 2,722 11,619 10070 EBIDTA % 18.65% 19.89% 21% 21% 21% PAT 1132 1097 982 4,113 3,615 PAT % 6.08% 7.50% 7.61% 7.39% 7.44% 10 PRE
Slide 11: Debt Profile
DEBT PROFILE VALUE IN ₹ Mn Consolidated Particulars Standalone % Loan % FY18 | a. Project Debt - Resi & Comm 21,539 58% 25,377 35% CONSOLIDATED b. Capex Loans - - - Office Space 941 3% 3,201 4% - Retail - 0% 1,296 2% - Hospitality - 0% 8,019 11% c. Rental Securitisation Loans 2,323 6% 21,747 30% d.
Slide 12: Exit Rentals Projection
Total Economic Area Leased Sl. No Project Name Segment Leasable Area Interest Prestige Share Rent P.A ₹ 8,291 Mn 1 Prestige Estates Projects Limited Commercial 1.90 1.90 1.90 866 EXIT RENTALS PROJECTION 2 West Palm Developers Pvt Ltd Commercial 0.32 0.19 0.19 82 3 Prestige Valley View Estates Pvt Lt
Slide 13: Incremental Rentals in FY19
₹ 2,036 Mn Total Area INCREMENTAL available for Economic Leasable Area RENTALS IN SLN Project Name Segment lease Interest (PG Share) Rent P.A FY19 1 Cessna Business Park B9 &B11 Commercial 0.99 0.84 0.84 726 2 Celebration Mall Retail 0.40 0.40 0.40 120 3 The Forum Neighbourhood Mall Retail 0.29 0.15
Slide 14: Ongoing Projects: Product Mix and Geography
PRODUCT MIX ONGOING PROJECTS (Detail annexed) 1% 2% 6% 2% 4% 5% 12% GEOGRAPHY Bengaluru SEGMENT Residential Chennai Commercial Cochin Retail Hyderabad Hospitality Mysuru Mangaluru 81% 87% Developable Developable Segment No. of Projects City No. of Projects Area (Mnsf) Area (Mnsf) Bengaluru 46 53.79
Slide 15: Upcoming Projects: Product Mix and Geography
PRODUCT MIX UPCOMING PROJECTS (Detail annexed) 3% 4% 6% GEOGRAPHY 10% Bengaluru SEGMENT 2% Chennai 30% Residential Mangaluru Commercial Hyderabad 12% Retail Ooty 66% Pune 67% Cochin Developable Developable City No. of Projects Segment No. of Projects Area (Mnsf) Area (Mnsf) Bengaluru 17 29.21 Chenna
Slide 16: Land Bank Details
LAND BANK DETAILS Land Area Sl. No Entity Name Location (Acres) Economic Interest PEPL Share (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi 143 100% 143 2 Prestige Projects Pvt Ltd Sarjapur/Bengaluru 182 100% 182 3 Prestige Estates Projects Ltd Bengaluru 2 100% 2 4 Village D Nandi Pvt Ltd Bengalu
Slide 17: Cash Flow Projections from Ongoing Residential Projects
₹67,118 Mn Cash flow Projections From Ongoing Value in Particulars Area In Mn Sft % ₹ Mn Residential Projects Total Developable Area 72.25 Car Park Area 17.74 Total Saleable Area 54.51 PG area share 40.68 Estimated Value 2,58,255 Sold 30.61 1,86,018 75% Collections 1,51,589 Balance to collect 36,035
Slide 18: Financial Update: Stock Breakup
FINANCIAL UPDATE STOCK Areas in Million Sqft Values in Million ₹ BREAKUP Q4FY18 & FY18 CONSOLIDATED Category Area Value Premium & Luxury Projects 2.02 21,325 Mid Income Projects 6.41 38,721 Commercial Projects 0.37 2,379 Completed Projects 1.27 9,813 TOTAL 10.06 72,238 18 PRESTIGE GROUP | Presentati
Slide 19: Cash Flow Projections from Upcoming Residential Projects
₹25,062 Mn Cash flow Projections From Upcoming Residential Projects Particulars Area In Mn Sft Value in Mn Total Developable Area 29.23 Car Park Area 8.39 Total Saleable Area 20.84 PG area share 14.02 Estimated Value 83,382 Cost of Development 59,478 Incurred 1,838 RD paid 1158 Net Cash flow (A-B) 2
Slide 20: Office Portfolio Potential
OFFICE PORTFOLIO POTENTIAL 22 Mn Sft GLA, Annuity income portfolio in the near term Area in Mn sft Values in Rs Mn OPERATING ONGOING UPCOMING TOTAL GLA 8.57 4.13 9.10 21.80 Economic Interest 7.58 2.94 7.50 18.01 Rentals Pa ₹ 5,680 3,545 6,979 16,204 Economic Interest ₹ 4,856 2,434 5,462 12,752 20 PR
Slide 21: Retail Portfolio Potential
RETAIL PORTFOLIO POTENTIAL 7 Mn Sft GLA, Annuity income portfolio in the near term Area in Mn sft Values in Rs Mn OPERATING ONGOING UPCOMING TOTAL GLA 3.23 2.50 1.35 7.08 Economic Interest 1.41 1.22 0.74 3.36 Rentals Pa ₹ 3,281 3,064 1,273 7,617 Economic Interest ₹ 1,524 1,403 691 3,618 21 PRESTIGE
Slide 22: Hospitality Portfolio Potential
HOSPITALITY PORTFOLIO POTENTIAL 1559 Keys in the near term Area in Mn sft UNDER Values in Rs Mn OPERATING CONSTRUCTION TOTAL Total Keys 1,262 297 1,559 Economic Interest 1127 297 1424 Total Revenue Pa ₹ 3191 455 3646 Economic Interest ₹ 2663 455 3118 PRESTIGE GROUP | Presentation | March 2018 22
Slide 23: FY18 Guidance
FY18 GUIDANCE Value in ₹ Million Volume in Mnsqft Target for Full % FY17 Particulars Year Achieved Achieved Achieved % Change New Sales Value 35,000 33,137 95% 24584.54 35% Turnover 45000-50000 55,665 124% 48617 14% Collections 42,500 42,684 100% 41232 4% Launch Volume 10 7.07 71% 1.977 258% Complet
Slide 24: FY19 Guidance
FY19 GUIDANCE Value in ₹ Million Volume in Mnsqft Particulars Target for Full Year New Sales Value 35,000-40,000 Turnover 35,000-40,000 Collections 37,500-40,000 Launch Volume 10 Completions 10 -12 Leasing Volume 2 Exit Rental Income 8,000-8,250 Debt Equity Ratio Consolidated 1.30 Standalone 0.64 PR
Slide 25: Diversified Business Model
DIVERSIFIED BUSINESS MODEL Across Geographies And Price Points RESIDENTIAL COMMERCIAL RETAIL & LOGISTICS HOSPITALITY SERVICES Sub Leasing Apartments Office Space Malls Resorts & Fit Out Services Built To Suit Interior Design Serviced Apartments Villas Campuses Logistics & Execution Integrated Facili
Slide 26: Delivered Projects Across Geographies, Segments and Price Points
DELIVERED FINANCIAL UPDATE 213 PROJECTS Q4FY18 & FY18 Across Geographies, CONSOLIDATED Segments and Price Points SINCE INCEPTION Plotted Residential Commercial Retail Hospitality Total Development PARTICULARS Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Completed Projects 90 39.82 100
Slide 27: Developer Rating: Highest Rating on Scale
FINANCIAL DEVELOPER UPDATE RATING Q4FY18ON&SCALE HIGHEST FY18 CONSOLIDATED Prestige is the only developer in the Country with the highest rating of CRISIL DA1 Rating, from CRISIL “Developer's ability to execute real estate projects as per the specified quality level and within the stipulated time sc
Slide 28: Awards & Recognitions
FINANCIAL UPDATE AWARDS & Q4FY18 & FY18 RECOGNITIONS CONSOLIDATED MOST TOP INDIAN CERTIFICATE 200+ ADMIRED REAL OF AWARDS SHOPPING ESTATE EXCELLENCE CENTER COMPANY ADMIRED MOST BUILDER OF DEVELOPER BRAND OF PROMISING THE YEAR OF THE ASIA BRAND YEAR PRESTIGE GROUP | Presentation | March 2018 …and man
Slide 29: Shareholding Pattern
FINANCIAL SHAREHOLDING UPDATE PATTERN As of 31st March, 2018 Q4FY18 & FY18 CONSOLIDATED Promoters 70% SHAREHOLDING FIIs 27% DIIs 2% Retail 1% PRESTIGE GROUP PRESTIGE GROUP | Presentation | Presentation | March | March 2018 2017 29
Slide 30: Board of Directors
BOARD OF DIRECTORS Irfan Razack Rezwan Razack Noaman Razack Uzma Irfan Chairman & Managing Joint Managing Director Wholetime Director Director Director Dr. Pangal Ranganath Jagdeesh K. Reddy B.G. Koshy Noor Ahmed Jaffer Independent Independent Independent Nayak Independent Director Director Director
Slide 31: Executive Management
EXECUTIVE MANAGEMENT Faiz Rezwan Zaid Sadiq Anjum Jung Zayd Noaman Executive Director- Executive Director- Executive Director- Interior Executive Director- CMD’s Contracts & Projects Liasion & Hospitality Design OFFICE Omer Bin Jung Nayeem Noor Zackria Hashim Venkat K Narayan Executive Director- Exe
Slide 32: Executive Management
EXECUTIVE MANAGEMENT Suresh Singaravelu Swaroop Anish Arvind Pai Executive Director- Retail, Executive Director- Business Executive Director- Legal Hospitality Development V. Gopal V.V.B.S. Sarma Lt. Col. Milan Khurana (Retd.) Executive Director- Chief Financial Officer Executive Director – HR, IT &
Slide 33: Annexure
ANNEXURE PRESTIGE GROUP | Presentation | March 2018 33at site Prestige Golfshire, Shot
Slide 34: Ongoing Projects: Residential
FINANCIAL ONGOING PROJECTS UPDATE RESIDENTIAL Developable Area Q4FY18 & FY18 Sl.No Project City (Mnsf) Economic Interest Prestige Share (Mnsf) CONSOLIDATED 1 Prestige Golfshire Bengaluru 1.82 100.00% 1.82 2 Prestige White Meadows -T3/T4 Bengaluru 1.04 100.00% 1.04 3 Kingfisher Towers Bengaluru 1.15
Slide 35: Ongoing Projects: Residential
FINANCIAL ONGOING PROJECTS UPDATE RESIDENTIAL Q4FY18 & FY18 Developable Area CONSOLIDATED Sl.No Project City (Mnsf) Economic Interest Prestige Share (Mnsf) 22 Prestige Woodland Park Bengaluru 0.38 50.00% 0.19 23 Prestige Woodside Bengaluru 0.41 30.60% 0.13 24 Prestige MSR Bengaluru 0.09 45.00% 0.04
Slide 36: Ongoing Projects: Office, Retail and Hospitality
FINANCIAL ONGOING PROJECTS UPDATE Sl. No Project CityDevelopable Area (Mnsf) Economic Interest Prestige Share (Mnsf) Cessna Business Park B9- Q4FY18 & FY18 1 B11 Bengaluru 2.06 85.00% 1.75 CONSOLIDATED 2 Prestige TMS Square Cochin 0.16 58.00% 0.09 Office 3 Prestige Falcon Towers Bengaluru 0.51 45.00
Slide 37: Upcoming Projects: Residential
FINANCIAL UPCOMING PROJECTS UPDATE RESIDENTIAL Developable Area Prestige Share Sl.No Project City Economic Interest Q4FY18 & FY18 (Mnsf) (Mnsf) CONSOLIDATED 1 Prestige Greenmoor Bengaluru 0.67 25.00% 0.17 2 Prestige Hillcrest Ooty 0.07 50.00% 0.04 3 Prestige Lakeside Habitat Phase III Bengaluru 3.29
Slide 38: Upcoming Projects: Office and Retail
FINANCIAL UPCOMING PROJECTS UPDATE Developable Area Prestige Share Sl. No Project City (Mnsf) Economic Interest (Mnsf) Q4FY18 & FY18 1 Prestige Tech Cloud Bengaluru 4.48 86.00% 3.86 CONSOLIDATED 2 Prestige Tech Park IV Bengaluru 1.55 90.00% 1.40 3 Prestige Tech Pacific Park Bengaluru 1.65 62.95% 1.0
Slide 39: Financial Update: Consolidated Income Statement
FINANCIAL Year Ended Quarter ended UPDATE Sl. Particulars No. 31-Mar-18 31-Mar-17 31-Mar-18 31-Dec-17 % % % % 31-Mar-17 % Q4FY18 & FY18 CONSOLIDATED Sale of Projects & Property 1 Income 54,986 47,745 18,486 12,723 14,438 2 Other Income 679 872 130 179 195 3 Total Income 55,665 48,617 18,616 12,902 1
Slide 40: Financial Update: Consolidated PAT, EPS and Market Cap
FINANCIAL Year Ended Quarter ended UPDATE Sl. No. Particulars 31-Mar-18 % 31-Mar-17 % 31-Mar-18 %31-Dec-17 % 31-Mar-17 % Q4FY18 & FY18 CONSOLIDATED 11 PBT 6,245 11% 5,273 11% 1,819 10% 1,450 11% 1,651 11% 12 Tax 2,132 1,658 687 468 554 13 PAT 4,113 7% 3,615 7% 1,132 6% 982 8% 1,097 7% Share of profi
Slide 41: Financial Update: Standalone Results
FINANCIAL Year ended Quarter ended UPDATE Particulars 31-Mar-18 31-Mar-17 31-Mar-18 31-Dec-17 31-Mar-17 (I) Revenue from Operations 29,925 21,764 9,970 7,690 5,590 (II) Other Income 1,113 1,245 427 238 288 Q4FY18 & FY18 STANDALONE (III) Total Revenue - (I+II) 31,038 23,009 10,397 7,928 5,878 (IV) Ex
Slide 42: Financial Update: Standalone Quarterly Results
FINANCIAL Quarter ended UPDATE Sl. No. Particulars 31-Mar-18 % 31-Dec-17 % 1 Sale of Projects & Property Income 9,970 7,690 Q4FY18 & FY18 2 Other Income 427 238 STANDALONE 3 Total Income 10,397 7,928 4 Cost of project sold and property expenses 8,121 5,943 5 Gross Margin 1,849 19% 1,747 23% 6 Admin,
Slide 43: Disclaimer
DISCLAIMER This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which ar
Slide 44: Thank You
THANK YOU Dilip Kumar Investor Relations - CEO’s Office T: +91 -80 –25001280 E: investors@prestigeconstructions.com Registered Office- Prestige Estates Projects Limited, The Falcon House, No. 1, Main Guard Cross Road, Bangalore –560 001, T: +91 -80 –25591080, F: + 91 –80 -25591945, Website: www.pres
Prestige Estates Projects — Q4 FY2018 Earnings Presentation on 6ix