Dlf Limited · NSE:DLF
Dlf — Q1 FY2009 Earnings Presentation
28 slides from Dlf's earnings presentation, August 2008
Slide 1: DLF Limited Q1 FY09 Analyst Presentation
DLF Limited Q1 FY09 Analyst Presentation • The Previous Quarter figures have been regrouped / rearranged wherever necessary to make them comparable. All figures for the current quarter are unaudited, but reviewed by statutory auditors 1
Slide 2: Executive Summary
Executive Summary Financial Highlights (all comparisons with Q1 FY08) • Consolidated Revenue at Rs 3,846 crore, up by 23% from Rs 3,121 crore • EBIDTA at Rs 2,380 crore, up by 6% from Rs 2,251 crore. Margin in all segments are being maintained. Overall mix reflects growth in mid-income housing busin
Slide 3: Executive Summary
Executive Summary • 3 IT/ITES SEZs (Kolkata, SIEL and Gandhinagar) notified in the quarter, with total number of notified IT/ITES SEZs increasing to 10 • Work proceeding as per schedule on the development of 17 hotels within the country • Aman Lodhi, New Delhi expected to open in December 2008, Hilt
Slide 4: Unaudited Results at a Glance – Q1 FY09
Unaudited Results at a Glance – Q1 FY09 Rs mn Q1 FY09 (Reviewed) Q1 FY08 (Reviewed) Q4 FY08(Reviewed) FY 2007- 08(Audited) Percentage Percentage Percentage of Percentage of Total Sl.No. Consolidated Financials Rs. Mns Rs. Mns of Total Rs. Mns of Total Rs. Mns Total Revenue Revenue Revenue Revenue A)
Slide 5: Consolidated Balance Sheet – Q1 FY09
Consolidated Balance Sheet – Q1 FY09 Rs mn As at Schedule 30-Jun-08 30-Jun-07 31-Mar-08 SOURCES OF FUNDS Shareholders' funds Capital 1 12,905 12,905 12,905 Reserves and surplus 2 204,326 125,273 183,977 217,231 138,178 196,882 Minority Interests 3 4,069 168 3,895 Loan funds Secured loans 4 90,932 94
Slide 6: Cash Flows – Q1 FY09
Cash Flows – Q1 FY09 Quarter ended Quarter ended Year ended Particulars 30-Jun-08 30-Jun-07 31-Mar-08 A. Cash flow from operating activities: Net profit before tax 22,715 21,267 95,585 Adjustments for: Depreciation 546 166 901 Loss/(profit) on sale of fixed assets, net - 3 7 Provision for doubtful d
Slide 7: Debt Position – Q1 FY09
Debt Position – Q1 FY09 Debt Position Rs mn Rs mn Total Debt 142,209 Less : Cash in Hand 10,015 Less: Equity shown as debt* 4,626 Net Debt 127,568 Less : ~ Hotels (including AMAN Resorts) 33,000 ~ Power (including wind power and utilities 15,000 ~ Receivables from DAL 33,820 ~ Self Liquidating Loans
Slide 8: Homes
Homes Under Construction Homes (msf) Development Potential (msf) Development Potential by Geography (Homes) 14 483 Tie II, 4% Super Metro, Tie I, 16% 31% 12 477 Metro, 49% 31 March, 2008 30 June, 2008 31 March, 2008 30 June, 2008 Segment - Homes Particulars Super Luxury Luxury Mid Income TOTAL Total
Slide 9: Homes
Homes Snap Shot Q1 09 Gross Sales Price S.NO. City Bookings At Launch Current No. (msf) (Rs/sq ft) (Rs/sq ft) % increase 1 New Gurgoan 484 0.95 2934 3275 11.62% 2 Chennai 462 0.75 3180 3650 14.77% 3 Indore 59 0.12 1730 1730 _ Note : Price Includes BSP,PLC, Floor Rise Charges, Parking etc. 9
Slide 10: Homes – Developments Q1 FY09
Homes – Developments Q1 FY09 • Increase in sales across different price brackets / product mixes, across locations • Launched premium homes in Indore and New Gurgaon • Plans to launch five new projects in the next quarter across various locations in India • Momentum to continue in the premium homes
Slide 11: Homes - Forthcoming Launches
Homes - Forthcoming Launches Kasauli Panchkula Gurgaon Indore Hyderabad Goa Super Luxury Luxury Banglore Mid Income Kakanad 11
Slide 12: Retail - Malls & Commercial Complexes
Retail - Malls & Commercial Complexes Under Construction (msf) Development Potential (msf) Development Potential by Geography 12 (Retail) 92 92 Teir II, 11% 11 Super Metro, Tier I, 14% 36% 31 March, 2008 30 June, 2008 Metro, 39% 31 March, 2008 30 June, 2008 Development Potential Super Metros Metros
Slide 13: Commercial Complexes
Commercial Complexes Snap Shot Q1 09 Gross Sale Price (Rs/sq ft) New launch Bookings At Launch Current No. (mn sqft) Corporate Greens, New Gurgaon 632 0.86 7552 7552 Total 632 0.86 Launched commercial complex in Lucknow in July 2008 13
Slide 14: Malls
Malls Acquired development rights for luxury mall-cum-multiplex in prestigious Chanakyapuri, Delhi “Emporio” – the only mall housing super-luxury brands in India – scheduled to open in September, 2008 • International brands, like Cartier, Tiffany, Tod’s, Giorgio Armani, Zegna, Dolce & Gabbana, J
Slide 15: Forthcoming Launches - Commercial Complexes & Retail Malls
Forthcoming Launches - Commercial Complexes & Retail Malls Ludhiana Noida Lucknow Mumbai Hyderabad Commercial Complexes Retail Malls Chennai FY09 15
Slide 16: Offices
Offices Under Construction (mMsf) Development Potential mMsf) Development Potential by Geography (Offices) 38 164 Tie II, 3% Tie I, 14% Super Metro, 36 39% 161 Metro, 43% 31 March, 2008 30 June, 2008 31 March, 2008 30 June, 2008 OFFICES Super Metros Metros Others Total Particulars Total mn sqft Tota
Slide 17: Offices – Developments Q1 FY09
Offices – Developments Q1 FY09 First developer to have four IT SEZs operational across four cities in India, with about 5 msf already occupied at Gurgaon, Chennai, Hyderabad and Pune IT SEZs Offices Delivered Noida IT Park – Tower C, DLF Akruti IT SEZ Pune – Block 1 & 3 0.36 msf 0.91 msf Building
Slide 18: Offices - IT/ITES SEZs
Offices - IT/ITES SEZs Sonepat Delhi Gurgaon Noida Gandhinagar Kolkata Nagpur Bhubneswar Pune IT/ITES SEZs Hyderabad Notified 10 Notified Final Approval 3 Chennai Final Approval Applied For 3 Applied For 18
Slide 19: Strong Execution Capability
Strong Execution Capability Project Under Construction Construction in progress in 14 cities (msf) 62 63 49 Project Under Construction (msf) Punjab Sonepat 61 Delhi 62 Q1 08 Q4 08 Q1 09 Gurgaon 49 Uttar Pradesh Delivered 3.05 msf during the quarter Gandhinagar Q1 08 Q1 09 Q4 08 Kolkata BU wise Area
Slide 20: HOTELS - Update
HOTELS - Update International Convention Centre, Hilton Garden Inn, Saket (New Delhi) Dwarka (New Delhi) • Asia’s largest multi-activity facility • Business Hotel with specialty restaurant, all day • To be the “showcase” project for India, with dining, bar, health club, pool, meeting room cum world
Slide 21: Hotels - Update
Hotels - Update HOTELS CLUBS DLF Phase I Club, Gurgaon ROHINI, New Delhi • All requisite ‘pre-construction’ approvals obtained • Obtained pre-construction approvals • Work scheduled to start in August 2008 • Excavation scheduled to start by August 2008 • To be operational by July 2010 • To be operat
Slide 22: Human Resource
Human Resource • Employee count as on June 30, 2008: 3693 • New employees joining in Q1 FY09: 199 QUALIFICATION BREAKUP FOR NEW JOINEES QUALIFICATION BREAK-UP OF TOTAL EMPLOYEES OF Q1 2008 4% 19% 10% 35% 77% 55% Professional Non-Technical Professional Technical Non- Professional Professional Technic
Slide 23: Our Land Resource
Our Land Resource Land Resource as on 30-June-2008 Mn Sqft Total Super Metros Metros Tier-I Tier-II Segment Office 161 63 70 23 5 Retail 92 33 36 13 10 Super Luxury 4 4 0 0 0 , Luxury 41 33 6 1 0 Mid income /Villas /Plots 438 113 231 76 19 Hotel/ Convention Center/ Service Appts 19 4 3 10 2 Grand To
Slide 24: Comparison of Land Resource Q109 vs Q408
Comparison of Land Resource Q109 vs Q408 Area in mn sqft Particulars Grand Total Super Metros Metros Tier-I Tier-II Land Reserves as per Q3 FY08 751 251 345 123 32 , New Acquisitions/ Handed Over 4 (1) 1 0 4 Land Reserves as per Q4 FY08 755 250 345 123 36 24
Slide 25: Land Balance Payable as on 30th June
Land Balance Payable as on 30th June 08 Land Area / Cost Chart 755 mn sqft Large Township Other Land Hotel Land Grand Total Gross Area (Mln.Sq.ft.) 272 465 19 755 Less : Area under Construction 63 Net Land Area (Mln.Sq.ft.) 272 402 19 692 COST (Rs./Crs.) Total Land cost 3786 18547 1918 24252 Less :
Slide 26: Land Balance Payable as on 30th June
Land Balance Payable as on 30th June 08 Land Balance Payable as on 30-June-2008 Rs Crore Total Super Metros Metros Tier-I Tier-II Total Land Cost 24252 10808 7527 4801 1116 Less:Amount paid 17924 10701 3302 3114 806 Balance due 6328 107 4225 1686 310 Less :from Merill 512 512 0 0 Net payable 5816 10
Slide 27: DAL vs Non DAL Q1 FY09
DAL vs Non DAL Q1 FY09 DAL Vs NON - DAL Q1 09 Q1 08 FY 08 Apr-08 to Jun-08 Apr-07 to June-07 Apr-07 to Mar-08 DAL Non-DAL Total DAL Non-DAL Total DAL Non-DAL Total Particulars Rs mn Sales 15,570 22,890 38,460 16,540 14,680 31,220 53,450 91,490 144,940 Less: Project Cost 4,820 10,930 15,750 6,700 3,2
Slide 28: Thank You
A DLFsm BUILDING INDIA Thank You