Puravankara Limited · NSE:PURVA
Puravankara — Q4 FY23 Earnings Presentation
56 slides from Puravankara's earnings presentation, May 26, 2023
Slide 1: Stock exchange filing cover letter
26.05.2023 To, The General Manager – DCS, The Manager, Listing Operations-Corporate Services Dept. Listing Department, BSE Ltd. National Stock Exchange of India Ltd., 1st Floor, New Trading Ring, Rotunda Exchange Plaza, 5th Floor, Plot No. C/1, G Building, 'P J. Towers, Dalal Street, Fort, Block, Ba
Slide 2: Investor Presentation Q4 FY23
Investor Presentation Q4 FY23 Investor Presentation Q4 FY23 1 Purva Atmosphere
Slide 3: Table of content
Table of content * Company Overview 3 – 11 * Operational Overview – Area and Sales 12 – 16 * Development Bank 17 – 21 * Updates on Financials 22 – 25 * Updates on Cash flows 26 – 29 * Updates on Debt 30 - 34 * Updates on inventory : Project Status 35 – 39 * Other corporate information 40 – 53 * Disc
Slide 4: Company Overview
Company Overview Investor Presentation Q4 FY23 3
Slide 5: Differentiated Brands Offering Wider Customer Base; Larger Market Share
Differentiated Brands Offering Wider Customer Base; Larger Market Share. Plotted Development • India's most reliable real estate developer, with an established presence in luxury 80+ 20,000 + residences, commercial, Completed residential Homes with Total Area premium affordable housing projects and
Slide 6: Purva Land – Plotted land development
Purva Land – Plotted land development • Dedicated arm for plotted land Bangalore development • Devanhalli (Tivoli Hills) • To cater to the evolving needs of • Rampura (Purva Oakshire) homebuyers and offer a highly • S Medahalli (upcoming project) • Kanakpura (Tree Haven) lucrative investment opportu
Slide 7: Starworth Infrastructure and Construction
Starworth Infrastructure and Construction A wholly owned subsidiary focused on technology enabled construction solutions • Order book of more than Rs 1600 crores • Undertakes Residential, Commercial, Infrastructure & Industrial Projects. • 18+ Msft Completed & 8+ Msft Ongoing • Provides end to end s
Slide 8: Industry Update – Real Estate
Industry Update –Real Estate There is a positive increase in total absorption in Q4 • Net Occupancy up by 104% 2023 by 10% compared to on Y-o-Y. the same period last year. Continued momentum The inventory overhang has • Vacancy % dropped from 17.2% dropped from 15 months to in residential and to 16.
Slide 9: Key Business Highlights – Q4 FY23
Key Business Highlights – Q4 FY23 ~INR 1,007Cr 1.21 msft ~INR 661 Cr ~INR 8,321 Sales Value* Sales volume Customer Collections* Average Realization ₹ psft Increase in sales by Increase in sales volume by 48% YoY increase indicating Increase by 19% YoY 21% YoY 2% YoY improving operating efficiencies
Slide 10: Key Business Highlights – FY23
Key Business Highlights – FY23 ~INR 3,107Cr 4.0 msft ~INR 2,258 Cr ~INR 7,768 Sales Value* Sales volume Customer Collections* Average Realization ₹ psft Increase in sales by Increase in sales volume by 57% YoY increase indicating Increase by 14% YoY 29% YoY 14% YoY improving operating efficiencies W
Slide 11: Operational Highlights – Q4FY22 vs Q4FY23
Operational Highlights – Q4FY22 vs Q4FY23 Sales Value (INR Cr) Customer Collections* (INR Cr) Revenue from projects (INR Cr) 700 661 450 1,100 389 1,007 400 1,000 600 350 900 831 500 445 296 300 800 400 250 700 300 200 600 200 150 500 100 400 100 50 300 - 0 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23
Slide 12: Operational Highlights – FY22 Vs FY23
Operational Highlights – FY22 Vs FY23 Sales Value (INR Cr) Customer Collections* (INR Cr) Revenue from projects (INR Cr) 2,500 1,400 2,258 1236 3,400 3,107 1,200 3,100 2,000 955 2,800 1,000 1,440 2,500 2,407 1,500 800 2,200 600 1,000 1,900 400 1,600 500 1,300 200 1,000 - - FY22 FY23 FY22 FY23 FY22 F
Slide 13: Operational Overview: Area and sales
Operational Overview Area and sales Investor Presentation Q4 FY23 12
Slide 14: Sales Q4FY23 Vs Q4FY22
Sales Q4FY23 Vs Q4FY22 Based on Bookings Quarter Ended Area Sold Units Sold Sale Value Sale Realization Mar-23 Mar-22 % Mar-23 Mar-22 % Mar-23 Mar-22 % Mar-23 Mar-22 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 0.79 0.6 32% 515 420 23% 735 441 67% 9,305 7,350 27% Completed P
Slide 15: Sales FY23 Vs FY22
Sales FY23 Vs FY22 Based on Bookings Year Ended Area Sold Units Sold Sale Value Sale Realization Mar-23 Mar-22 % Mar-23 Mar-22 % Mar-23 Mar-22 % Mar-23 Mar-22 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 2.07 1.55 34% 1185 937 26% 1868 1263 48% 9,026 8,148 11% Completed Proj
Slide 16: Sales area Classification – Unit Value & Regional contribution
Sales area Classification – Unit Value & Regional contribution Unit Value wise contribution to sales value Q4FY23 FY23 Rs.0 -0.5 cr > Rs.2 cr Rs.0 -0.5 cr 7% > Rs.2 cr 9% • Unit Value wise –More than 18% 18% 80% of the Group’s sales are accounted by units which Rs.1.5 - 2 cr Rs.1.5 - 2 cr costs less
Slide 17: Steady Sales Performance
Steady Sales Performance 1200 Quarterly Sales Value (in INR Cr) 1007 1000 831 791 796 800 753 • We have achieved 666 570 597 highest ever annual 600 513 sales and quarter 496 399 sales for this year 400 314 when compared against the respective 200 quarters of any previous FY 0 Q1 FY21 Q2 FY21 Q3 FY2
Slide 18: Development Bank
Development Bank Artist’s impression of Purva Atmosphere Investor Presentation Q4 FY23 17
Slide 19: Diversified across markets, brands and stages of development
Diversified across markets, brands and stages of development in million sq. ft. Completed Ongoing Land Assets Total (A) (B) (A)+(B) South India Bengaluru 31.88 15.65 29.77 45.42 Chennai 6.54 2.52 5.19 7.71 Hyderabad 2.49 0.45 0.00 0.45 Kochi 1.89 3.97 2.94 6.91 Others 1.57 0.36 0.45 0.81 West India
Slide 20: Ongoing and New Launches
Ongoing and New Launches Non-Bengaluru projects now account for 44% of the Provident accounts for 49% of the launch pipeline; in line share of ongoing and 68% of launch pipeline with the market trends and the Group‘s strategy 7% 12% 1% 18% 21% 32% 27% 8% Launch Pipeline Launch Pipeline 2% 14% 56% 33
Slide 21: Launches during the FY23
Launches during the FY23 Launch Saleable Area • During the year, we launched 9 Launches during the current year projects across 3 cities totaling Sl.No Quarter Project Name City (msft) Zentech Business 100% = 6.04 msft up to 6.04 msft 1 Q1 FY23 Park Bengaluru 0.76 • Bangalore and Chennai accounted f
Slide 22: Launch Pipeline
Launch Pipeline Sr. no Location/ Project Name City Development Model Development Type Developable Area PPL Share in JD Saleable area Expected launch date (msft) Puravankara 1 Bellandur Bengaluru Owned Residential 0.47 100% 0.47 Q4FY24 2 Amaiti 2 Coimbatore Owned Residential 1.07 100% 1.07 Q3FY24 3 P
Slide 23: Update on Financials
Update on Financials Investor Presentation Q4 FY23 22
Slide 24: Consolidated Statement of Profit & Loss for the quarter ended March 31, 2023
Consolidated Statement of Profit & Loss for the quarter ended March 31, 2023 All numbers in INR Cr Particulars Q4FY23 Q3FY23 Q4FY22 Income from operations • Our revenue from Revenue from projects 388.99 392.45 295.55 projects increased by Other Income 57.40 17.95 24.57 32% to 389 Cr in Total Income
Slide 25: Consolidated Statement of Profit & Loss for the year ended March 31, 2023
Consolidated Statement of Profit & Loss for the year ended March 31, 2023 All numbers in INR Cr Particulars FY23 FY22 Income from operations • Our revenue from Revenue from projects 1,235.76 954.70 projects increased by Other Income 171.22 426.95 29% to 1,236 Cr in Total Income from operations 1,406
Slide 26: Consolidated Balance sheet as on March 31, 2023
Consolidated Balance sheet as on March 31, 2023 Equity and Liabilities Mar-23 Mar-22 Assets Mar-23 Mar-22 Audited Audited Audited Audited Shareholders' Funds Non-Current Assets (a) Equity share capital 119 119 (a) Property, plant and equipment 84 61 (b) Other equity attributable to: (b) Capital work
Slide 27: Update on Cash flows
Update on Cash flows Investor Presentation Q4 FY23 26
Slide 28: Direct Cashflows
Direct Cashflows All numbers in INR Cr Cash Flow Statement Q1 FY 23 Q2 FY 23 Q3 FY 23 Q4 FY 23 FY 23 FY 22 A Operating Inflows 666.8 677.6 741.9 721.3 2,807.6 2,231.5 Collection from operations 543.9 673.5 741.9 721.3 2,680.6 1,675.7 Collection from other than operations 122.9 4.1 0.0 0.0 127.0 555.
Slide 29: Cash Flow - Trends
Cash Flow - Trends All numbers in INR Cr Operating inflows Operating outflows Collection from operations 3,000 2,808 2,500 2280 3,000.0 2680 2,500 2,232 2,500.0 2,000 • For the year, 2,000 2,000.0 1676 collection from 1,500 1,347 1,500 1,500.0 operations increased 1,000 1,000 1,000.0 by ~60% indicat
Slide 30: Cash Flow Potential
Cash Flow Potential Puravankara Provident Total Balance collections from sold units 1 (A) 1,972 995 2,967 • Cashflow Visibility of Rs.6,550 Crores in Value of Inventory open for sale 2 (B) 4,659 1,421 6,081 next 3-5 years • Balance receivables of Balance cost to go 3 (C) 3,597 1,222 4,819 ~Rs.2,967
Slide 31: Update on Debt
Update on Debt Investor Presentation Q4 FY23 30
Slide 32: Debt movement pattern
Debt movement pattern All numbers in INR Cr in Rs. Cr Q4FY23 Q3FY23 Q2FY23 Q1FY23 Q4 FY22 Q3 FY22 Q2FY22 Q1FY22 Q4FY21 Opening Balance 2575 2525 2192 2190 2283 2189 2136 2502 2613 Net Addition (Repayment) 51 50 333 2 -93 94 53 -366 -111 Debt Outstanding 2626 2575 2525 2192 2190 2283 2189 2136 2502 L
Slide 33: Debt Composition
Debt Composition • 115 crore is debt Q3FY23 Q4FY23 Movement raised taken for buying the share of JV Residential 2,195 2,122 -72 partner Keppel in our successful project Land 245 220 -25 Parksquare Capex towards Commercial development 136 169 33 • There is reduction of debt outstanding in Sub total 2
Slide 34: Borrowing Cost Management
Borrowing Cost Management Debt/ sft of under construction area Q4FY23 Q3FY23 Q2FY23 Q1FY23 Q4 FY22 Q3 FY22 Q2FY22 Q1FY22 Q4FY21 Q4FY20 Q4FY19 • With our aggressive Net Debt 2208 2135 2144 1889 1846 1857 1860 1848 2299 2536 2743 launches- our debt Ongoing Projects (msft) 20 17 16 15 15 14 13 13 13 13
Slide 35: Debt Management & Repayment Schedule
Debt Management & Repayment Schedule Amount Particulars Repayment Schedule INR Cr (in Rs crore) Group A - Approved (including not launched for sale) projects • Group’s net debt is Rs 2,208 Crore which Balance customer collection A 14,199 compares favorably Balance cost to go B 7,649 against the Grou
Slide 36: Project Status
Project Status Provident Sunworth Investor Presentation Q4 FY23 35
Slide 37: Project Status – Completed Projects as on March 31, 2023
Project Status – Completed Projects as on March 31, 2023 Area Sold Puravankara's JD / JV Share S.No. Project Location Developable Area Total Flats Share - Inventory for Developer Launched Cumulative Developable Area Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % COMPLETED Puravankara 1 Winderm
Slide 38: Project Status – Under Construction as on March 31, 2023
Project Status – Under Construction as on March 31, 2023 Area Sold JD / JV Share for Puravankara's Share - S.No. Project Location Developable Area Total Flats Launched Cumulative Inventory Developer Developable Area Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION Puravankara
Slide 39: Project Status – Not yet open for Sale as on March 31, 2023
Project Status – Not yet open for Sale as on March 31, 2023 Puravankara's Developable JD / JV Share for S.No. Project Location Total Flats Share - Sold Cumulative Unsold Inventory Area Developer Area Developable Area Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % PHASES NOT OPEN FOR S
Slide 40: Ongoing- Residential City wise (including not open for sale)
Ongoing- Residential City wise (including not open for sale) Puravankara’s City Total Projects Area Area Launched Sold Area Inventory Mnsft share Coimbatore 2 0.60 0.60 0.13 0.08 0.05 Mumbai 4 1.51 1.04 0.72 0.25 0.47 Bengaluru 19 14.62 12.79 9.58 4.18 5.39 Chennai 4 3.09 2.94 1.60 0.36 1.23 Hyderab
Slide 41: Appendix 1: Other Corporate Information
Appendix 1: Other Corporate Information Investor Presentation Q4 FY23 40
Slide 42: Governance Structure to drive long term growth
Governance Structure to drive long term growth Executive Team Ravi Puravankara Ashish Puravankara Nani R. Choksey Abhishek Kapoor Chairman Managing Director Vice Chairman Executive Director & CEO • Over 44 years of experience in real • Bachelor’s degree in Business • Experience of over 44 years in t
Slide 43: Governance Structure to drive long term growth Contd.
Governance Structure to drive long term growth Contd. Non Executive Directors Anup Shah Sanmukh Shailaja Jha K G Krishnamurthy Sanjeeb Chaudhuri Non- Executive Independent Non- Executive Independent Non- Executive Independent Non- Executive Independent Director Director Director Director • Bachelor’
Slide 44: Key Strengths/Building a strong strategy/Growth Drivers
Key Strengths/Building a strong strategy/Growth Drivers Land Bank Potential Business Development-Strong pipeline Rich Talent Credit Rating Continued unlocking of of business development Strong & Experienced Leadership Stable development potential Acquired 100 acres of land parcel in Senior executive
Slide 45: Shareholding Pattern as of March 31, 2023
Shareholding Pattern as of March 31, 2023 Others, Mutual Funds, 8.33% 0.31% FII & FPI, FPIs 16.36% Gothic Corporation Atyant Capital Insurance and Bodies Corporate Mutual Funds Life Insurance Corporation Franklin Templeton General Insurance Corporation LIC Mutual Fund Promoter, 75.00% Notes 1. Promo
Slide 46: Share Price Movement
Share Price Movement 120 100 80 60 40 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 PURVA SENSEX BSE REALTY Notes: Graph rebased to 100 Investor Presentation Q4 FY23 45
Slide 47: Appendix 3: Our Completed Projects
Appendix 3: Our Completed Projects PURVA VENEZIA PURVA SKYWOOD PURVA SKYDALE Bengaluru Bengaluru Bengaluru Investor Presentation Q4 FY23 46
Slide 48: Awards and Accolades
Awards and Accolades CREDAI CARE 2023 ET BUSINESS EXCELLENCE AWARDS 2023 REALTY+ CONCLAVE & EXCELLENCE NATIONAL SAFETY COUNCIL -2023 Lifetime achievement award for Woman Achiever of the Year in Real Estate AWARDS - 2023 State Level Safety Award for SICL Chairman Ravi Puravankara for Amanda Joy Purav
Slide 49: Media & Capital Market Recognition
Media & Capital Market Recognition Investor Presentation Q4 FY23 48
Slide 50: Appendix 3: Our Completed Projects
Appendix 3: Our Completed Projects PURVA BLUEMONT PURVA PALM BEACH PURVA ETERNITY Coimbatore Bengaluru Kochi Investor Presentation Q4 FY23 49
Slide 51: Appendix: Select Ongoing Projects
Appendix 4 : Select Ongoing Projects PURVA ZENIUM PURVA ASPIRE PROVIDENT PARKSQUARE PROVIDENT KENWORTH Bengaluru Pune Bengaluru Hyderabad Investor Presentation Q4 FY23 50
Slide 52: Appendix: Select Ongoing Projects
Appendix 4 : Select Ongoing Projects PROVIDENT CAPELLA PROVIDENT ADORA DE GOA PROVIDENT SKYWORTH Ph 2 Bengaluru Chicalim Mangaluru Investor Presentation Q4 FY23 51
Slide 53: Appendix: Completed commercial projects
Appendix 4 : Completed commercial projects PURVA PRIMUS PURVA SUMMIT Chennai Hyderabad Investor Presentation Q4 FY23 52
Slide 54: Appendix: Ongoing commercial projects
Appendix 4 : Ongoing commercial projects PURVA AEROCITY ZENTECH Bengaluru Bengaluru Investor Presentation Q4 FY23 53
Slide 55: Disclaimer
Disclaimer This presentation has been prepared by Puravankara Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Puravankara Ltd.'s future business prospects and business profitability, which are subject to a number of ri
Slide 56: Thank You
THANK YOU Puravankara Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Corporate Identification Number : L45200KA1986PLC051571 Website:- www.puravankara.com Investor Relations Contact: Mr. Neeraj Gautam, Executive Vice President Email – neeraj.gautam@puravankara.com; Tel: +9