Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q1 FY2021 Earnings Presentation
33 slides from Godrej Properties's earnings presentation, Aug 5, 2020
Slide 1: Cover letter to stock exchanges
Godrej Properties Limited Regd. Office: Godrej One, 5th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai – 400 079. India Tel.: + 91-22-6169 8500 Fax: + 91-22-6169 8888 Website: www.godrejproperties.com CIN: L74120MH1985PLC035308 August 05, 2020 BSE Limited Phiroze Jeejeebhoy Towe
Slide 2: Results Presentation First Quarter, Financial Year 2021
R E S U LT S P R E S E N T A T I O N FIRST QUARTER, FINANCIAL YEAR 2021 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 3: 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 4: Agenda
AGENDA Overview 01 Q1 FY21 Operational Highlights 02 Q1 FY21 Financial Highlights 03 Annexure 04 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY21
Slide 5: Godrej Group
GODREJ GROUP Established in 1897 Value Creation Track Record $5 billion in annual revenue 19 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth 1.1 billion people globally use a Godrej product1 BSE Sensex 13% 10 Godrej ranks amongst the most trusted Indian brands2 Go
Slide 6: Godrej Properties
GODREJ PROPERTIES Established in 1990 Indias largest publicly listed developer by booking value over the past five years Chandigarh 0.7, 1 NCR Successfully delivered ~22 million sq. ft. of real estate in the 29.4, 15 past five years ~187 million sq. ft. of developable area across India Ahme
Slide 7: Strengths
STRENGTHS 1 1.1 billion people globally use a Godrej product Godrej Brand Godrej Properties ranked as the most trusted real estate brand in the 2019 Brand Trust Report GPL brings the Godrej brands reputation for trust, quality and corporate governance to the real estate sector Effective Com
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth ~ 9x an identical investment into the BSE Realty Index Value Creation Track Record 10 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 6.8% 1.99 Godrej Properties 13.4% 3.76 BSE Realty Index -8.2%
Slide 9: Agenda
AGENDA Overview 01 Q1 FY21 Operational Highlights 02 Q1 FY21 Financial Highlights 03 Annexure 04 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY21
Slide 10: Q1 FY21 Operational Highlights
Q1 FY21 OPERATIONAL HIGHLIGHTS Due to the lockdown, there was very limited construction during the quarter and as a result no new projects achieved revenue recognition COVID-19 Impact Cash collections which depend on construction milestones were also impacted This led to an accounting loss and
Slide 11: Sales Highlights
SALES HIGHLIGHTS Particulars Q1 FY21 Q1 FY20 Growth Q4 FY20 Growth FY20 Area Sold (sq. ft.) 2,512,288 1,349,271 86% 3,610,789 -30% 8,799,842 Booking Value (INR Cr) 1,531 897 71% 2,383 -36% 5,915 Strong sales performance despite lockdown Godrej Royale Woods, Bangalore Launched in June 2020 Total
Slide 12: Project Booking
PROJECT BOOKING Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Residential Projects Q1 FY21 Q1 FY21 Godrej Nurture/Park Greens/Forest Grove, Pune 377,962 237 Godrej Nirvaan, Thane 205,935 131 Godrej Aqua, Bangalore 227,041 124 Godrej Royale Woods, Bangalore 257,054 109 Godrej Golf Links,
Slide 13: Quarterly Sales Trend
QUARTERLY SALES TREND Quarterly Sales Value 3,000 2,500 2,383 2,161 2,000 (INR cr) 1,528 1,446 1,531 1,500 1,189 1,000 897 807 500 0 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Quarterly Sales Volume 4.0 3.7 3.6 3.5 3.0 2.8 2.5 (Million sq. ft.) 2.5 2.3 2.0 1.6 1.5 1.3 1.1 1.0 0.
Slide 14: Launch Tracker FY21
LAUNCH TRACKER FY21 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY21 New Project Launches Planned in FY21 Project City Launch Project City Launch Status Area* Status Area* Vashi Mumbai 0.
Slide 15: Construction Highlights
CONSTRUCTION HIGHLIGHTS Construction activity has resumed on almost all sites post the lockdown The workforce strength is gradually increasing and stood at 41% of our pre-COVID strength as of June end and at 62% at the end of July Workforce Strength is expected to increase gradually in coming qu
Slide 16: COVID-19 Relief & Other CSR Updates
COVID-19 RELIEF & OTHER CSR UPDATES With the help of Jan Sahas and GPL, Dalberg had put together a recommendation for state Building & Other Construction Worker (BOCW) and Labour Welfare departments to restart workers registrations during COVID-19 Success on This was initiated by GPL and suppor
Slide 17: Agenda
AGENDA Overview 01 Q1 FY21 Operational Highlights 02 Q1 FY21 Financial Highlights 03 Annexure 04 16 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY21
Slide 18: Consolidated Financial Statements – P&L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q1 FY2021 Q1 FY2020 % Change Q4 FY2020 % Change FY2020 Total Income 165 708 -77% 1,261 -87% 2,829 Adjusted EBITDA* 44 215 -80% 321 -86% 903 EBITDA** 40 195 -80% 253 -84% 733 Profit before tax -15 140 -110% 190 -108% 491 Net Profit after
Slide 19: Consolidated Cashflow
CONSOLIDATED CASHFLOW (INR Cr) Notes Particulars Q1 FY21 Operating cashflow Total operating cash inflow 421 A Operating cash outflow Construction and related outflow (330) Other project related outflow (442) Total operating cash outflow (772) Net operating cashflow (352) Financial cashflow B Interes
Slide 20: Consolidated Financial Statements - BS (Assets)
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 30.06.2020 As on 31.03.2020 A Assets Unaudited Audited 1 Non Current assets a Property, plant & equipment 74.95 77.89 b Capital Work-in-Progress 162.62 160.86 c Right-of-Use Asset 33.21 3.76 d Investment Property 9.77 9.79 e Go
Slide 21: Consolidated Financial Statements - BS (Equity and Liabilities)
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 30.06.2020 As on 31.03.2019 B Equity and Liabilities Unaudited Audited 1 Equity a Equity share capital 126.04 126.01 b Other equity 4,658.42 4,678.47 c Non-controlling interest - - Total Equity 4,784.46 4,804.48 2 Liabilities 2
Slide 22: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators Particulars Q1 FY2021 Q1 FY2020 Q4 FY2020 FY2020 Adjusted EBITDA / Total Income* 26.6% 30.4% 25.5% 31.9% EBITDA / Total Income** 24.0% 27.6% 20.1% 25.9% PBT Margin % -8.9% 19.8% 15.1% 17.4% Net Profit Margin %# -12.2% 12.7% 8.0% 9.4% *Adjusted EBITDA = EBI
Slide 23: Agenda
AGENDA Overview 01 Q1 FY21 Operational Highlights 02 Q1 FY21 Financial Highlights 03 Annexure 04 22 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY21
Slide 24: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based - 73.6% 1 Godrej Garden City* Ahmedabad Residential 14.80 Own Phase V: Revenue Based - 67.6% Ongoing Phase VI: onwards - 17% of Reve
Slide 25: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 19 Godrej Palm Grove Chennai Residential 1.93 Own Area Based - 70% (for 12.57 acres), 68% (for 4.82 acres) Ongoing 20 Godrej Azure Chennai Residential 0.70 JV
Slide 26: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 35 Godrej Park Mumbai Residential 0.77 Own Revenue Based – 56.5% Forthcoming 36 Godrej Vihaa Mumbai Res idential 1.30 DM DM Fee – 10% of Revenue Ongoing Profi
Slide 27: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 53 Godrej Nirvaan Mumbai Residential 2.25 JV Profit Share - 50% Ongoing 54 Taloja Mumbai Residenti al 7.50 JV Profit Share - 55% Forthcoming 55 Ambernath Mumb
Slide 28: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 69 Godrej Infinity Pune Residential 2.80 JV Profit Sharing - 35% Ongoing Revenue Based 96% (GPL owns 49% equity in project 70 Godrej 24 Pune Residential 0.56
Slide 29: B. Commercial Projects
B. COMMERCIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based 73.6% 1 Godrej Garden City* Ahmedabad Residential 2.40 Own Phase V : Revenue Based - 67.6% Ongoing Phase VI : onwards - 17% of Revenu
Slide 30: Thank You
THANK YOU For further information, please contact: Rajendra Khetawat Godrej Properties Limited Tel: +91 22 6169 8500 Fax: +91 22 6169 8888 Email: rajendra@godrejproperties.com 38 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 31: Press Release: Consolidated Financials for Q1 FY21 Results
GODREJ PROPERTIES LIMITED CIN : L74120MH1985PLC035308 Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express Highway, Mumbai – 400079 PRESS RELEASE Consolidated Financials for Q1 FY21 Results Total booking value for Q1 FY21 increased by 71% to INR 1,53
Slide 32: Press Release: Executive Chairman commentary on Q1 FY2021
Commenting on the performance of Q1 FY2021, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said: “With the lockdown in place for most of the quarter, construction activities during the period were extremely limited leading to almost no revenue recognition and to poor operating c
Slide 33: About Godrej Properties Limited
About Godrej Properties Limited: Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 123– year legacy of excellence and trust with a commitment to cutting edge design, technology