Kolte-patil Developers Limited · NSE:KOLTEPATIL
Kolte-patil Developers — Q3 FY2019 Earnings Presentation
24 slides from Kolte-patil Developers's earnings presentation, Jan 30, 2019
Slide 1: Cover letter to stock exchanges
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Slide 2: Q3 FY2019 Results Presentation
KOLTE-PATIL DEVELOPERS LIMITED Q3 FY2019 Results Presentation
Slide 3: Disclaimer
Disclaimer 2 Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those
Slide 4: Table of Contents
Table of Contents 3 1 2 3 4 5 6 Operational About Kolte- P&L / Balance Project-wise CEO’s Message & Performance Outlook Patil Developers Sheet Snapshot Details Highlights Ltd.
Slide 5: Kolte-Patil Developers: At a Glance
Kolte-Patil Developers: At a Glance 4 Decades of presence 30 million square feet of Residential real estate being incorporated in projects under IPO in Dec 2007 player in Pune 1991 execution and approval (Awarded as Most Reputed Brand in Pune) of units delivered across ROCE – one of the 74.5% 11.5%
Slide 6: Impact of Application of IND AS-115
Impact of Application of IND AS-115 5 ≈ MCA (Ministry of Corporate Affairs, Government of India) notified IND-AS 115 (Revenue from Contracts with Customers) on 28th March 2018, applicable for the sector beginning on or after 1st April 2018 ≈ In the erstwhile accounting standards coupled with the gui
Slide 7: CEO's Message: Commenting on the performance for Q3 FY2019
“In continuation of the momentum we saw in Q2 FY19, we have delivered yet another robust performance across all key parameters during Q3 & 9M FY19. Our sales trajectory has seen a sequential uptick of 5% QoQ and 36% YoY to 0.80 msf in Q3 FY19, the highest recorded in the last four years. Sales have
Slide 8: Robust Momentum in Customer Collections
Robust Momentum in Customer Collections 7 ≈ Collections remained healthy Collections (Rs. Crore) in Q3 FY19 at Rs. 267 crore taking collections for 9M 377 FY19 to Rs. 871 crore, up 19% YoY 309 294 280 267 ≈ Trailing twelve month 254 253 collections at Rs. 1,248 crore, up 27% YoY 199 ≈ Mumbai and Ben
Slide 9: Operational Highlights
Operational Highlights 8 New area sales Q3 FY19 Q3 FY18 YoY 9M FY19 9M FY18 YoY Volume (million sq. ft.) 0.80 0.59 35.6% 2.03 1.59 28.1% Value (Rs. million) 4,175 3,283 27.2% 10,763 9,195 17.1% Realization (Rs./Sq. ft.) 5,196 5,542 -6.2% 5,294 5,794 -8.6% Collections (Rs. million) 2,673 2,800 -4.6%
Slide 10: Performance Highlights – Q3 FY19
Performance Highlights – Q3 FY19 9 Revenue, Rs. Crore EBITDA, Rs. Crore PAT (Pre-MI), Rs. Crore PAT, Rs. Crore 478 104 41 61 78 34 288 278 283 67 66 28 254 56 37 37 24 27 18 22 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 FY18 FY18 FY19 FY19 FY19 FY18 FY18 FY19 FY19 FY19 FY18 FY18 FY1
Slide 11: New Sales Analysis – Q3 FY19
New Sales Analysis – Q3 FY19 10 msf. 0.32 0.55 0.41 0.59 0.59 0.49 0.46 0.77 0.80 100% 4% 3% 3% 4% 3% 5% 5% 3% 3% 3% 12% 7% 14% 10% 11% 8% 5% 5% 80% 26% 31% 42% 41% 60% 47% 49% 55% 50% 62% 23% 40% 21% 55% 11% 9% 28% 10% 16% 20% 15% 38% 26% 26% 18% 22% 27% 16% 13% 14% 0% Q3 FY2017 Q4 FY2017 Q1 FY2018
Slide 12: Abridged Cash Flows
Abridged Cash Flows 11 Q3 FY19 9M FY19 Abridged Cashflows - Unaudited (Rs. crore) (Un-Audited) (Un-Audited) Opening Balance 89 117 Operating Cashflow Collections 267 864 Construction Cost 180 497 Other Expenses 41 116 Direct & Indirect Taxes 26 80 Financing & Investing Activities Interest 11 38 OD/C
Slide 13: Consolidated Debt Profile
Consolidated Debt Profile 12 31st Mar, st th Consolidated Debt Profile (Rs. crore) 31 Dec, 2018 30 Sep, 2018 2018 (Audited) CCM POCM^ CCM POCM^ POCM Networth 809 1,062 802 1,006 984 Gross debt 764 764 671 671 689 Less: OCD / CCD / OCRPS / Zero Coupon NCD* 269 269 279 279 289 Debt 495 495 392 392 400
Slide 14: Profit and Loss Snapshot – Q3 FY19 vs Q3 FY18
Profit and Loss Snapshot – Q3 FY19 vs Q3 FY18 13 P&L Snapshot (Rs. crore) Q3 FY19* Q3 FY19^ Q3 FY18 YoY Revenue Recognition Method Reported POCM POCM POCM REASONS FOR VARIANCE CCM • Q3 FY18 POCM numbers include the Revenue from Operations 72.3 282.8 289.0 -2.1% strategic divestment of land parcel
Slide 15: Profit and Loss Snapshot – 9M FY19 vs 9M FY18
Profit and Loss Snapshot – 9M FY19 vs 9M FY18 14 P&L Snapshot (Rs. crore) 9M FY19* 9M FY19^ 9M FY18 YoY Revenue Recognition Method Reported POCM POCM POCM REASONS FOR VARIANCE CCM • Key revenue drivers in 9M FY19 as per Revenue from Operations 673.9 815.1 922.7 -11.7% POCM accounting were Ivy Esta
Slide 16: Revenue Recognition – Q3 FY19 vs Q3 FY18
Revenue Recognition – Q3 FY19 vs Q3 FY18 15 Q3 FY19 – Rs. 72 crore Q3 FY19 – Rs. 283 crore Q3 FY18* – Rs. 268 crore (CCM) (POCM) (POCM) Life Republic 20% 18% Stargaze 75% Stargaze 16% 15% Opula 13% 14% Three Jewels 10% Bangalore Projects 11% 12% Western Avenue 14% 9% Bengaluru Projects 5% Ivy Estate
Slide 17: Revenue Recognition – 9M FY19 vs 9M FY18
Revenue Recognition – 9M FY19 vs 9M FY18 16 9M FY19 – Rs. 674 crore 9M FY19 – Rs. 815 crore 9M FY18* – Rs. 740 crore (CCM) (POCM) (POCM) Life Republic 19% 20% Life Republic 32% Western Avenue 18% 13% Stargaze 27% Opula 12% 13% Bangalore Projects 9% 9% Downtown 14% Ivy Estate 9% 8% Ivy Estate 13% Sta
Slide 18: Sales & Collections – Ongoing Projects – Q3 FY2019
Sales & Collections – Ongoing Projects – Q3 FY2019 17 Gross Details (including partner’s share) Sales value Avg. Realization Collections Projects Location Area Sold (msf.) (Rs. mn.) (Rs./sft.) (Rs. mn.) Life Republic Hinjewadi, Pune 0.20 948 4,860 618 Ivy Estate Wagholi, Pune 0.27 1,093 4,026 236 Tu
Slide 19: KPDL Project Portfolio – 31.12.2018
KPDL Project Portfolio – 31.12.2018 18 Gross Details Gross Details (including partner’s share) (including partner’s share) Ongoing Ongoing KPDL Upcoming Land KPDL Under Land Pune Projects & Mumbai Projects & Share * Bank Share Approval* Bank Unsold Unsold Jazz II (Opula) 100% 0.26 - - Jai Vijay 100%
Slide 20: Improving Return Ratios
Improving Return Ratios 19 ROE ROCE 18.4% 15.9% 16.6% 14.9% 14.5% 14.3% 12.1% 11.2% 11.9% 12.3% 11.0% 10.1% 10.2% 7.5% Mar '16 Mar '17 June '17 Sep '17 Dec '17 Mar '18 9M FY19 Note: Numbers on POCM basis
Slide 21: Business Outlook
Business Outlook 20 SECTOR CONSOLIDATION DIVERSIFYING GEOGRAPHICAL PRESENCE EFFICIENT CAPITAL DEPLOYMENT • Implementation of RERA and GST has • 1.4 msf across 14 asset-light society • Continue to evaluate strategic and financial consolidated demand to organized, execution- redevelopment projects in
Slide 22: Awards & Recognition
Awards & Recognition 21 White Page Realty Plus White Page Realty Plus India’s Most Inspirational Developer of the Year - KPDL - India’s Most Mid-segment project of Business Leader – Gopal Township (Ivy Estate) Admired Realty Brand the year - Exente Sarda
Slide 23: Awards & Recognition
Awards & Recognition 22 International Brand Equity Awards Premium Residential Residential High Rise The Best Real Estate Luxury Project of the Year Project of the Year Project of the Year Brands List - 2018 (24K Grazzio) (Raaga) (Exente)
Slide 24: About Kolte-Patil Developers Ltd.
About Kolte-Patil Developers Ltd. 23 Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL), incorporated in 1991, is a For further information, please contact: leading real estate company with dominant presence in the Pune residential market. Kolte-Patil is a trusted name with a reputation for
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