Slide 1: Indiabulls Real Estate Limited exchange intimation letter
January 05, 2022 Scrip Code – 532832 IBREALEST/EQ BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Bandra-Kurla Complex, Dalal Street, Bandra (East), MUMBAI – 400 001 MUMBAI – 400 051 Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligation
Slide 2: Investor Update: Merger of Embassy Assets into Indiabulls Real Estate
Investor Update Merger of Embassy Assets into Indiabulls Real Estate January 5, 2022
Slide 3: Disclaimer
Disclaimer This document contains certain forward‐looking statements based on current estimates and expectations of Indiabulls Real Estate Ltd.'s (CIN: L45101DL2006PLC148314) management to the best of their knowledge concerning, among other things, the business, results of operations, financial posi
Slide 4: A New Beginning | Larger, Stronger and Diverse
A New Beginning | Larger, Stronger and Diverse ◼ Proven leadership by a promoter with a sole focus on real estate ◼ Footprint into the fastest growing commercial and residential market of Bengaluru ◼ Adding a pipeline of commercial asset development to the portfolio ◼ Existing relationships/ partner
Slide 5: Executive Summary
Executive Summary ◼ Assets of Embassy Group to merge into Indiabulls Real Estate (“IBREL”), to create one of India’s largest listed real estate companies ◼ The merged entity will have a balanced mix of commercial and residential assets which should provide a natural hedge against cyclicality and sha
Slide 6: Snapshot
Snapshot Embassy IBREL Combined Entity - IBREL ◼ Residential and commercial assets ◼ Leading residential real estate ◼ One of the largest real estate developers in in India’s leading commercial platform with total launched India with an optimum mix across asset classes Overview market with total lau
Slide 7: Key Metrics
Key Metrics Million SF Saleable + Leasable Area 24.6 54.1 78.7 Residential Stock + Planned Area 23.3 11.6 34.9 Commercial Planned Area 1.3 42.5 43.8 In Rs. Cr Residential Net Surplus Launched + Planned Projects 13,682 5,388 19,070 Residential Net Surplus Launched Projects 11,059 2,747 13,806 Residen
Slide 8: Transaction Overview
Transaction Overview The Board of Directors of Indiabulls Real Estate Limited (“IBREL”) approved: ➢ Merger of identified ongoing, completed & planned residential and commercial projects of the Embassy Group (“Embassy Assets”), Sky / Sky Forest residential assets with IBREL ➢ The proposed merger wi
Slide 9: Swap Ratio Calculation | Basis of Valuation
Swap Ratio Calculation | Basis of Valuation Equity Valuation Post Merger Shareholding ( INR Cr) NAM Estates Equity Value[1] 5,050 - Existing IBREL Promoter Group 0.1% - Embassy Group 3,940 - Public & Institutional Shareholders 36.0% - Existing Private Equity Investors 1,110 - Embassy Group 44.9% - E
Slide 10: Transformational Change in Ownership
Transformational Change in Ownership ◼ Indiabulls Real Estate (IBREL), Embassy select assets combine to create one of India’s largest listed real estate enterprise ◼ Post merger, Mr. Jitendra Virwani, Chairman of Embassy Group, and certain other promoter entities of NAM Estates (Embassy Group) to be
Slide 11: Transaction Rationale
Transaction Rationale 1 Creates one of India’s largest real estate development platforms 2 Benefits from a complementary pan India presence across key markets 3 Diversification towards a balanced mix of residential and commercial development 4 Significant near completion inventory whereby pending co
Slide 12: Creates one of India's largest real estate development platforms
Creates one of India’s largest real estate development platforms Embass 11
Slide 13: Combined Entity to Attain Size and Scale
Combined Entity to Attain Size and Scale Market leadership potential through merger 19,665 13,806 #2 in Surplus - Launched 7,479 7,213 6,633 3,805 3,096 2,958 projects in INR Cr. Macrotech Combined Entity DLF Sobha Prestige Puravankara Sunteck Brigade 3,600 3,353 2,412 #2 by Land Bank 1,396 (acres)[
Slide 14: Significant Growth Potential
Significant Growth Potential Saleable Area & Leasable Area (Mn Sq ft) 24.6 54.1 78.7 Residential Commercial Residential Commercial OC / Near Completion 2.6 - 1.4 - 4.0 Other Launched 12.4 - 0.6 - 13.1 Planned 8.3 1.3 9.5 42.5 61.6 Net Residential Surplus (launched + planned) 13,682 5,388 19,070 (INR
Slide 15: Complementary Pan India Presence Across Key Markets
Complementary Pan India Presence Across Key Markets Blu Estate & Club
Slide 16: Combined entity to have Complementary Geographic Footprint
Combined entity to have Complementary Geographic Footprint Pre-merger Post merger* Saleable/Leasable Area (Mn Sq Ft) IBREL Embassy NCR 9.7 NCR 9.7 Jodhpur 0.3 Jodhpur 0.3 Vadodra 0.2 2.1 Indore Vadodra 0.2 2.1 Indore MMR 12.2 MMR 12.2 0.3 0.1 Vizag 0.1 Vizag Bengaluru 52.3 1.5 Chennai IBREL sharehol
Slide 17: Diversification Across Asset Classes
Diversification Across Asset ClassesNew Photo and not blurred PRIVATE & CONFIDENTIAL Embassy Lake Terraces 16
Slide 18: Diversification into Commercial Development
Diversification into Commercial Development IBREL Combined Entity Asset Mix Heavily Skewed Towards Residential Balanced and Diversified Development Portfolio (Mn Sq Ft) post merger (Mn Sq Ft) 5% 56% 44% 95% Residential Commercial Residential Commercial Balanced mix a natural hedge against cyclicalit
Slide 19: Significant Near Completion Inventory
Significant Near Completion Inventory New Photo and not blurred PRIVATE & CONFIDENTIAL Embassy One Residential 18
Slide 20: Combined Entity: Visibility on Near-Term Liquidity and Cash Flows
Combined Entity: Visibility on Near-Term Liquidity and Cash Flows Over INR 3,400 Cr of near completed inventory Near completed projects with ~2x cover (INR Cr) Surplus of sold receivables (INR Cr) Over pending costs Pending Costs 1,142 14,302 Sold Receivables 1,995 81% 500 700 900 1,100 1,300 1,500
Slide 21: Promoter with Proven Track Record, Strong Execution Skills and Best Practices
Promoter with Proven Track Record,New Strong Photo and not blurred Execution Skills and Best Practices Embassy Boulevard Interiors PRIVATE & CONFIDENTIAL 20
Slide 22: Embassy Group Known for Execution Skills and Deep Relationships
Embassy Group Known for Execution Skills and Deep Relationships ✓ Strong track record of executing +61 Mn Sq ft with a 35-year sole focus on real estate development ✓ Pioneered commercial IT office park concept in India with Embassy Golf Links and developed two of the largest 100+ acre IT parks in I
Slide 23: Appendix
Appendix New Photo and not blurred Embassy Boulevard PRIVATE & CONFIDENTIAL 22
Slide 24: Merger Structure & Overview
Merger Structure & Overview Embassy One 23
Slide 25: Merger Transaction | Assets Overview
Merger Transaction | Assets Overview Assets proposed to be merged Type Embassy Lake Terraces Residential Embassy Grove Residential Embassy Boulevard Residential Embassy Pristine Residential Embassy Residency Residential Embassy One Residential Sky / Sky Forest Residential Embassy East Busines Park C
Slide 26: Post Merger | Final Structure
Post Merger | Final Structure IBREL Existing Existing Embassy & Sky / Public & Institutional Embassy Group Promoter Sky Forest PE Investors Shareholders 44.9% 0.1% 19.0% 36.0% Embassy Lake Terraces, Embassy Grove, Embassy Boulevard, IBREL existing Embassy Pristine, Embassy Prism, Embassy Tech Valley
Slide 27: Embassy Group Overview
Embassy Group Overview Embassy Lake Terraces 26
Slide 28: Embassy Group | Overview
Embassy Group | Overview + 200 Mn sq ft + 300 + 1,000 Acres + 150 Mn sq ft TOTAL PROJECTS COMMERCIAL CLIENTS LAND BANK COMMERCIAL PROJECTS COMMERCIAL* RESIDENTIAL INDUSTRIAL AND WAREHOUSING HOSPITALITY COMPLETED - 43 MILLION SQ. FT. COMPLETED - 15 MILLION SQ. FT. 6 CITIES COMPLETED – COMPLETED – 533
Slide 29: Embassy | Residential Projects
Embassy | Residential Projects Area (mn Sqft) Sold Pending Unsold Net Projects (Rs. Crores) Saleable Sold Unsold Receivables Costs Inventory Surplus OC/ Near Completion Projects: Embassy Lake Terraces, Hebbal(1) 1.69 1.08 0.61 224 146 674 753 Embassy Boulevard, Yelahanka 0.95 0.73 0.22 212 53 399 55
Slide 30: Embassy | Planned Projects
Embassy | Planned Projects Planned Residential Projects Projects Location Saleable Area Net Surplus in Mil. Sq.ft. INR Cr. Embassy Bayview(1) Mumbai 0.47 455 Embassy Residency - Phase 2 Chennai 1.42 114 Embassy Springs Villa and Town House Bengaluru 0.50 282 Embassy Springs Row House Bengaluru 0.31
Slide 31: Indiabulls Real Estate Limited Overview
Indiabulls Real Estate Limited Overview Indiabulls Overview Blu Estate & Club 30
Slide 32: Indiabulls Real Estate | Overview
Indiabulls Real Estate | Overview 25 Mn sq ft 19 3,353 Acres INR 3,094 Cr in TOTAL PROJECTS TOTAL PROJECTS LAND BANK SOLD RECEIVABLES ◼ Strong and diverse portfolio spread across Indian geography, with a healthy blend of high-end Tier I and Tier II city inventories ◼ Fully paid for, construction rea
Slide 33: Launched Projects Overview
Launched Projects Overview Area (mn Sqft) Sold Pending Unsold Net Projects (Rs. Crores) Saleable Sold Unsold Receivables Costs Inventory Surplus Ongoing & Completed Projects: Blu Estate & Club, Worli 2.83 1.36 1.47 14 1,561 6,561 5,014 One Indiabulls Thane 2.58 0.49 2.09 340 1,197 2,635 1,778 Indiab
Slide 34: IBREL | Planned Projects
IBREL | Planned Projects Planned Residential Projects Projects Location Saleable Area Net Surplus in Mil. Sq.ft. INR Cr. Indiabulls Imperial - Phase 1 NCR 4.29 1,651 Indiabulls Imperial - Phase 2 NCR 0.91 279 Arivali, Panvel MMR 0.76 292 Silverlake Villas, Alibaug MMR 0.26 69 Centrum Indore 2.08 332