Valor Estate Ltd · NSE:DBREALTY
Valor Estate — DB Realty — Investor Presentation (November 2010)
42 slides from Valor Estate's investor presentation, November 2010
Slide 1: Corporate Presentation November 2010
November 2010 Corporate Presentation 0
Slide 2: DB Realty – A Mumbai Real Estate Powerhouse
DB Realty – A Mumbai Real Estate Powerhouse Shareholding Vision & leadership provided by Vinod Goenka and Shahid Balwa Large land development within Mumbai suburbs (Goregaon, Andheri, Kandivli) and City (South/Central Mumbai) totaling 14.4 msf completed in the past Real Estate company with a s
Slide 3: Differentiated Land Acquisition Ability
Differentiated Land Acquisition Ability Orchid Turf View, Mahalaxmi 1.5 msf Old tenant rehabilitation and free sale Urban renewal area to be developed by DB Realty MIG Co-Hsg-Soc, Bandra, 1.0 msf Mahul Nagar, Mahul 8.7 msf Generation of TDR through various Govt. approved schemes TDR Orchid Hills
Slide 4: DB Group – Changing the Landscape of Mumbai
DB Group – Changing the Landscape of Mumbai Umar Jamal Compound, Tardeo, Mumbai Central 2004 – Initial View 2010 – Orchid Enclave & City Centre Mall 2005 – Excavation Note: This project was completed by Promoters and Promoter Group Companies 3 3
Slide 5: DB Realty – Changing the Landscape of Mumbai
DB Realty – Changing the Landscape of Mumbai Rangwala Compound, Jacob Circle 2008 – Initial View Proposed elevation – Orchid Heights 2010 – Current View 4 4
Slide 6: DB's Projects - Location wise
DB’s Projects - Location wise Orchid Heights, Jacob Circle Orchid Turf View, Mahalaxmi Orchid Crown, Prabhadevi Orchid Views, Shantinagar Orchid Enclave II, M.Central Mumbai South / Central Orchid Skyz, Unity Comp. Total area: 6.4 msf DB Tower, BKC Orchid Enclave III, Bustan Orchid Splendor, Jubilee
Slide 7: Ongoing Projects
Ongoing Projects Saleable Area Start End No. Project Name Type Status (msf) Date Date 1 Orchid Ozone Resi Under 1.6 Aug’09 Sep’12 (Dahisar – E) & Retail Construction 1 2 Orchid Woods Under Resi 0.9 Feb’07 Jun’11 (Goregaon – E) Construction 3 Orchid Heights Under 4 Resi 0.6 Nov’09 Mar’13 (Jacob Circl
Slide 8: April 1, 2010 to September 30, 2010 – Total Sales
April 1, 2010 to September 30, 2010 – Total Sales No. Project Units Sold Area Sold Sales Value Collection * (Sq.Ft.) (` in Mn) (` in Mn) 1 Orchid Ozone 398 307,113 1,614 360 2 Orchid Suburbia 47 49,187 471 691 3 Orchid Turf View 1 5,000 200 389 4 Orchid Woods 121 227,830 2,409 1,847 5 Orchid Heights
Slide 9: Forthcoming Projects
Forthcoming Projects 7 Saleable Start End 2 No. Project Name Type Status Area (msf) Date Date Orchid Hill Park# Resi Approval 1 7.9 Apr’11 Mar’14 (Goregaon) & TDR Stage 3 1 Orchid Garden # Approval 2 Resi 2.2 Aug’11 Sept’14 (Dahisar – E) Stage Orchid West View Approval 3 Resi 0.7 Dec’10 Dec’13 (Mala
Slide 10: Forthcoming Projects – Continued
Forthcoming Projects – Continued Saleable Start End No. Project Name Type Status Area (msf) Date Date Orchid Apartments Resi Approval 9 1.2 Mar’11 Feb’15 (Mankhurd) & TDR Stage Orchid Splendor# Approval 10 Resi 0.4 Mar’11 Mar’14 (Byculla) Stage Orchid Central # Approval 11 Resi 0.3 Mar’11 Mar’14 (Mu
Slide 11: New Project (Acquisition)
New Project (Acquisition) Post IPO 10 10
Slide 12: Government Colony, Bandra
Government Colony, Bandra Location : Bandra (East) Type : Residential/ Commercial Ownership * : 100% Status : Acquired Plot Area : ~57 Acres Saleable Area : ~8 mn. sq.ft. Estimated All in Cost of BUA : ` 9,514/- Estimated Sale Rate : ` 25,000/- Cash Outflow FY 11 : ` 803 Cr. EBID
Slide 13: Orchid Paradise (MIG Co-operative Housing Society)
Orchid Paradise (MIG Co-operative Housing Society) Location : Bandra (East) Type : Residential Ownership : 100% Status : Acquired Plot Area : ~5 Acres Saleable Area : ~1,044,954 sq.ft. Estimated All in Cost of BUA : ` 7,990/- Estimated Sale Rate : ` 19,400/- Cash Outflow FY 11* : `
Slide 14: Abhyudaya Nagar Housing Board Colony
Abhyudaya Nagar Housing Board Colony Location : Kalachowki,Parel-Sewri Division Type : Residential Ownership * : 60% (Profit Sharing) Status : In Process (Probability 90%) Plot Area : ~33 Acres Saleable Area : ~5,763,391 sq.ft. Estimated All in Cost of BUA : ` 6,853/- Estimated Sale
Slide 15: Prem Nagar, Goregaon
Prem Nagar, Goregaon Location : Near Inorbit Mall, Goregaon (W) Type : Residential Ownership * : 51% (Profit Sharing) Status : In Process (Probability 100%) Plot Area : ~65 Acres Saleable Area : ~9,268,489 sq.ft. Estimated All in Cost of BUA : ` 6,760/- Estimated Sale Rate : ` 12,000
Slide 16: Mahal Pictures
Mahal Pictures Location : JVLR, Jogeshwari Type : Residential Ownership* : Current 33%, Profit Sharing Proposed 40% Status : Acquired Plot Area : ~16 Acres – Open Land, ~42 Acres – Slum Saleable Area : ~7,595,422 sq.ft. TDR ~3,755,234 sq.ft. Estimated All in Cost of BUA : ` 5,769/- E
Slide 17: Mumbai Central - URD
Mumbai Central - URD Location : Mumbai Central Type : Residential Ownership * : 85% (Profit Sharing) Status : In Process (Probability 50%) Plot Area : ~59 Acres Saleable Area : ~8,016,864 sq.ft. Estimated All in Cost of BUA : ` 7,572/- Estimated Sale Rate : ` 16,000/- Before Redevelo
Slide 18: Consolidated Financials
Consolidated Financials 17 17
Slide 19: Profit and Loss A/c
Profit and Loss A/c (` in Mn) % % Particulars Q2-FY11 Q2-FY10 change H1-FY11 H1-FY10 change FY10 Income Sales & Income from Operations 3,388 2,760 22.8 6,036 3,944 53.0 9,512 Other Income 168 37 354.1 322 48 570.8 291 Total Income 3,556 2,797 27.1 6,358 3,992 59.3 9,803 Expenditure Project Expenses
Slide 20: Revenue Breakup
Revenue Breakup (` in Mn) Project Q2-FY11 Q2-FY10 H1-FY11 H1-FY10 FY10 Orchid Ozone 441 1,322 926 1,323 2,587 Orchid Woods 1,346 450 2,175 651 1,641 Mahul (TDR) 1,495 988 2,237 1,970 5,284 Orchid Suburbia 106 - 698 - - Orchid Crown - - - - - Total 3,388 2,760 6,036 3,944 9,512 19 19
Slide 21: Project Expenses
Project Expenses (` in Mn) Project Q2-FY11 Q2-FY10 H1-FY11 H1-FY10 FY10 Orchid Ozone 334 911 568 911 1,815 Orchid Woods 855 177 1,377 563 1,040 Mahul (TDR) 494 478 776 880 2,615 Orchid Suburbia 99 - 667 - - Total 1,782 1,566 3,388 2,354 5,470 20 20
Slide 22: Balance Sheet
Balance Sheet (` in Mn) Particulars H1-FY11 H1-FY10 FY10 Sources of Funds Shareholders Funds Share Capital 2,433 2,112 2,433 Reserves & Surplus 29,660 25,865 28,054 Loan Funds Secured Loans 6,003 5,361 4,559 Unsecured Loans 1,032 2,152 1,390 Total 39,128 35,490 36,436 Application of Funds Fixed Asse
Slide 23: Cash Flow
Cash Flow (` in Mn) Particulars H1-FY11 H1-FY10 FY10 Inflow Sales 7,313 4,321 9,340 IPO (net of expenses) - - 14,694 Loan availed 1,086 152 - Total 8,399 4,473 24,034 Outflow Project Expenses 4,223 3,267 7,769 Loan Repayment - - 649 Investments (3,724) 251 8,941 Loans & Advances 4,207 580 6,073 Othe
Slide 24: Key Ratios
Key Ratios H1-FY11 H1-FY10 FY10 EPS (Rs.) 7.48 2.75 11.76 Book Value (Rs.) 132 132 125 Profit before Tax Margin (%) 38% 20% 33 % Net Profit Margin (%) 30% 15% 26 % Debt / Equity (times) 0.21 0.27 0.21 23 23
Slide 25: Ongoing Initiatives - Building An Organisation
Ongoing Initiatives - Building An Organisation 24 24
Slide 26: Sales & Marketing
Sales & Marketing Rebuilding and recreating the brand – “ DB ” Innovative visibility campaign – 50% of the air-conditioned buses in Mumbai carries DB branding DB banners at prime locations Beautification contract for Bandra Worli Sea Link – Huge visibility and CSR Project-wise print advert
Slide 27: H R Initiatives
H R Initiatives Key executives hired and organization structure in place Deloitte engaged for SOP Development across functional areas Standardized documentation of HR Practices and Processes In-house development of talent and career management Performance linked appraisals and compensation
Slide 28: Processes
Processes Annual budgeting and MIS in place - Strict Cash Flow monitoring SAP implementation in process – All modules expected to be implemented Deloitte engaged for drawing Risk Management and Documentation process Variations in project expenses exceeding 10% - Board approval a prerequisite
Slide 29: THANK YOU
THANK YOU 28 28
Slide 30: Annexure I Project Portfolio
Annexure I Project Portfolio 29 29
Slide 31: Ongoing Projects-Sales Data
Ongoing Projects-Sales Data Sr Project Name Total Units % Area Sales Amount % Project Cost incurred as on No Units Sold Sold Sold Value Collected Collected Cost 30-09-2010 (Sq.ft.) (` mn) (` mn) (` mn) (` mn) 1 Orchid Ozone 3,592 3,206 89 % 2,346,426 8,734 1,717 20 % 6,852 2,686 2 Orchid Woods 630 4
Slide 32: Ongoing Projects
Ongoing Projects Sr Project Name Total Saleable Area DB’s Saleable Area Commencement- Ownership No (Sq. Ft.) (Sq. Ft.)* Completion Date (%)* 1 Orchid Ozone 2,604,368 1,615,924 Aug - Sep 66% (DB JDA Share–2,448,369) 2009 2012 2 Orchid Woods 1,174,000 880,500 Feb - Jun 75% 2007 2011 3 Orchid Heights 1
Slide 33: Forthcoming Projects
Forthcoming Projects Sr Project Name Total Saleable DB’s Saleable Project Cost incurred Commencement- Ownership No Area Area Cost as on 30-09-2010 Completion Date (%)* (Sq. Ft.) (Sq. Ft.)* (` mn) (` mn) 1 Orchid 2,090,816 Resi- 1,672,653 6,827 26 Apr - March 80% Hill Park# 6,206,380 TDR- 6,206,380 2
Slide 34: Forthcoming Projects -Continued
Forthcoming Projects -Continued Sr Project Name Total Saleable DB’s Saleable Project Cost incurred Commencement - Ownership No Area Area Cost as on 30-09-2010 Completion Date (%)* (Sq. Ft.) (Sq. Ft.)* (` mn) (` mn) 9 Orchid 1,465,432 TDR- 732,716 4,466 629 Mar - Feb 50% Apartment 862,526 Resi- 431,2
Slide 35: Annexure II Project Status
Annexure II Project Status 34 34
Slide 36: Orchid Ozone (Dahisar)
Orchid Ozone (Dahisar) Description Sales Details Approximately 40 % of the construction cost incurred Period Units Area Sold Sold Value Sold Sq.ft. (s` in mn) Work completed upto podium level for 15 buildings Work completed upto ground floor for 25 buildings Q2-FY11 191 142,766 801 Typical floor wor
Slide 37: Orchid Woods (Goregaon)
Orchid Woods (Goregaon) Description Sales Details Approximately 64% of the construction cost incurred Period Units Area Sold Sold Value RCC work, plumbing and waterproofing for Tower A Sold Sq.ft. ( ` in mn) on schedule Q2-FY11 74 140,985 1,473 RCC work for Tower B & C completed, Finishing Q2-FY10 1
Slide 38: Orchid Heights (Jacob Circle)
Orchid Heights (Jacob Circle) Description Sales Details Tenement shifting is in progress of Tower B portion Period Units Area Sold Sold Value 30 % work for foundation and 60% work for retaining Sold Sq.ft. (` in mn) wall completed for Tower A Q2-FY11 62 217,575 4,247 Sales office & Sample flat - fin
Slide 39: Orchid Suburbia (Kandivali)
Orchid Suburbia (Kandivali) Description Sales Details Approximately 38% of the construction cost incurred Period Units Area Sold Sold Value Work completed upto 2nd Podium for tower A & B Sold Sq.ft. (` in mn) 13th Residential floors completed for tower C Q2-FY11 13 13,919 137 Work completed upto 16t
Slide 40: Orchid Crown (Prabhadevi)
Orchid Crown (Prabhadevi) Description Sales Details Piling work 89% completed. Period Units Area Sold Sold Value Tower A- Excavation work 40 % completed Sold Sq.ft. (` in mn) Tower B- Excavation & PCC completed, Foundation Q2-FY11 25 98,550 2,429 work 50% completed Q2-FY10 - - - Tower C-Excavation &
Slide 41: Orchid Turf View (Mahalakshmi)
Orchid Turf View (Mahalakshmi) Description Sales Details IOD for residential sale building received Period Units Area Sold Sold Value MOEF approval obtained Sold Sq.ft. (` in mn) Turf View Tower piling is in progress Q2-FY11 - - - Sample Flat foundation work is in progress Q2-FY10 5 50,000 1,630 Sho
Slide 42: SRA Mahul (Chembur)
SRA Mahul (Chembur) Description TDR Generating Project RCC work for 60 buildings completed Period TDR Sold Sold Value Flooring work completed for 60 buildings Sq.ft. (` in mn) Compound wall in progress Q2-FY11 510,311 1,495 Construction of DP road commenced Q2-FY10 807,300 988 20 buildings handed ov