Peninsula Land Limited · NSE:PENINLAND
Peninsula Land — Investor Presentation (August 2009)
38 slides from Peninsula Land's investor presentation, Aug 25, 2009
Slide 1: Peninsula Land Limited Corporate Presentation
Peninsula Land Limited Corporate Presentation August 2009
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: • This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any secur
Slide 3: Group & Company Overview
ASHOK PIRAMAL GROUP [a] GROUP & COMPANY OVERVIEW
Slide 4: Ashok Piramal – Group Overview
Ashok Piramal – Group Overview The Ashok Piramal Group of Companies Real Estate Textiles Engineering Development Revenues (US$ mn) EBITDA (US$ mn) 250 236 60 54 200 50 150 40 30 100 88 20 50 6 10 0 FY 04 FY09 0 FY 04 FY09 Note: Financial year is year ending March 31 Real Estate development is one of
Slide 5: Peninsula Land – Company Overview
Peninsula Land – Company Overview Well recognized brands in commercial (Peninsula), residential (Ashok) and retail (Crossroads) sectors Strong focus on cash generation and conservative investment philosophy The Company achieved US$114mn and US$73mn revenues for FY09 and FY08 respectively Healthy EBI
Slide 6: Peninsula Land – Corporate History
Peninsula Land – Corporate History Acquired land in Pune, Nashik and Hyderabad Raised US$133mn through QIP Way Concluded Pre-sale of commercial Ahead properties in Mumbai: 51% of Peninsula Business Park and 100% of Peninsula Techno Park 2007 - Projects under execution 2008 (4.1mn sq ft) getting comp
Slide 7: Key Differentiators
ASHOK PIRAMAL GROUP [a] KEY DIFFERENTIATORS
Slide 8: Key Differentiators
Key Differentiators Strong Top-line Growth at CAGR of 72% and EBIDTA growth at CAGR of 44% from FY04 Profitability Acquire land with an intention of immediate development; carrying land stock for 3 to Focus 5 years helping company All land parcels acquired through 100% equity or internal accruals Lo
Slide 9: Key Differentiators (Cont…)
Key Differentiators (Cont…) Well timed exits to maximize value US$56mn from sale of Crossroads in 2006 Exit Strategy US$227mn from sale of 51% interest in Peninsula Business Park in 2007 US$269mn from sale of Peninsula Technopark in 2008 Peninsula Land concentrated on cities in Western and Southern
Slide 10: Strategy and Way Ahead
ASHOK PIRAMAL GROUP [a] STRATEGY AND WAY AHEAD
Slide 11: Peninsula Land – Way Ahead
Peninsula Land – Way Ahead Positioning as urban player Investment strategy Geographic focus Asset class and investment allocation strategy Branding 11
Slide 12: Positioning as Urban Player
Positioning as Urban Player • A strong urban player Urban Player • Develop within city limits • Strong player in Mumbai city Presence in • Continue the strategy to expand the urban development portfolio Mumbai • Consolidate presence in Greater Mumbai & surrounding suburbs of the city • Identify key
Slide 13: Broad Investment Strategy
Broad Investment Strategy Leverage existing development capabilities across assets viz. Retail + Residential + Commercial Ashok Towers Ashok Garden Foray into new asset classes / segments Premium Retail ‘Out-of-town’ township development projects Peninsula Techno Park Peninsula Business Park Develop
Slide 14: Geographic Focus
Geographic Focus Focus on Key urban Tier 1 & 2 Cities in Western & Southern India MUMBAI: HYDERABAD: • Financial and business hub of India • IT, bio-tech and industrial hub • Largest property market in India • Infrastructure developments – a catalyst for growth in this city PUNE: • Established IT an
Slide 15: Asset Class & Investment Allocation Strategy
Asset Class & Investment Allocation Strategy Asset Class Cities Bangalore Nashik Chennai Goa Hyderabad Nagpur Mumbai Pune Residential Standalone & mixed use Standalone & mixed use (City Centric) Commercial Small format offices (preferably (CBD / SBD 1 Large format offices ~ 250,000 sqft) Centric) Pr
Slide 16: Branding – Reputable Property Developer with Established Brands
Branding – Reputable Property Developer with Established Brands Peninsula Land has developed established ‘Best in Class’ brands in each of the market segments, which is unique from other developers • Crossroads + Peninsula Corporate Park Brand Segment Achievements + Ashok Towers Residential Resident
Slide 17: Projects Overview
ASHOK PIRAMAL GROUP PROJECTS OVERVIEW [al
Slide 18: Projects Overview
Projects Overview Completed Projects RETAIL COMMERCIAL RESIDENTIAL PROJECT NAME AREA (‘000 sqft) PROJECT NAME AREA (‘000 sqft) PROJECT NAME AREA (‘000 sqft) Cross Roads 150 Peninsula Corporate Park 893 Palm Beach 37 CR2 225 Peninsula Centre 91 Kanjur Marg Bayside Mall 20 (Low income Housing) 800 Cen
Slide 19: Projects Overview
Projects Overview Projects Pipeline COMMERCIAL RESIDENTIAL PROJECT NAME AREA (‘000 sqft) PROJECT NAME AREA (‘000 sqft) Nagpur 103 Goa Betim 327 Nasik 670 Nasik 2,200 Pune 4,300 Hyderabad 3,800 Total: 11.4 msqft 19
Slide 20: Completed Projects
Completed Projects Crossroads – Retail Project Area – 150,000 sqft Project Start Date – March 1997 Project Completion Date – August 1999 Peninsula Corporate Park – Commercial Project Area – 892,503 sqft Project Start Date – March 2002 Project Completion Date – January 2005 Palm Beach Project – Resid
Slide 21: Completed Projects
Completed Projects Peninsula Centre Project Area - 91,488 sqft Project Start Date – April 2001 Project Completion Date – January 2002 Bayside Mall Project Area – 20,000 sqft Project Start Date – July 2003 Project Completion Date – May 2005 CR2 Project Area – 225,000 sqft Project Start Date – Februar
Slide 22: Projects Under Execution – Ashok Towers
Projects Under Execution Ashok Towers – Residential Project Area – 1,077,691 sqft Project Start Date – August 2004 Estimated Completion Dates Towers C – July 2009 Handed over Tower A and B – Sept 2009 Tower D – Dec 2009 Approximately 600 units located in prime location in Parel, Mumbai 96% of the pr
Slide 23: Projects Under Execution – Ashok Garden
Projects Under Execution Ashok Garden – Residential Project Area – 836,030 sqft Project Start Date – April 2006 Estimated Completion Date – December 2009 92% of the project is sold JV with Swan Mills who pays for the cost of development Peninsula Land is responsible for execution and management of t
Slide 24: Projects Under Execution – Peninsula Technopark
Projects Under Execution Peninsula Technopark – Commercial Project Area – 879,815 sqft Project Start Date – March 2005 Estimated Completion Date – December 2010 JV with Swan Mills who pays for the cost of development Peninsula Land is responsible for execution and management of the project, for 22%
Slide 25: Projects Under Execution – Peninsula Business Park
Projects Under Execution Peninsula Business Park – Commercial Saleable Area –1,260,637 sqft Project Start Date – March 2008 Estimated Completion Date – December 2010 51% of the project sold CURRENT STATUS END PRODUCT 25
Slide 26: Projects Pipeline – Goa, Nasik, Nagpur
Projects Pipeline Goa Betim – Residential Developable Area – ~327,000 sqft Project start date – Q2 FY 2009 - 10 [Photo To Come] Planned Completion date – Q2 FY 2011 - 12 Approved Land Use PLL economic interest of 58% Nasik – Residential Developable Area – 670,000 sqft Project Start Date – Q3 FY 2009
Slide 27: Projects Pipeline – Pune, Hyderabad
Projects Pipeline Pune – Residential Developable Area – ~4,300,000 sqft Project Start Date – Q4 FY2009 - 10 Expected Completion Date – Q2 FY 2016 - 17 Hyderabad – Residential Developable Area – 3,800,000 sqft Project Start Date – Q2 FY 2010 - 11 Expected Completion Date – Q1 FY2015 - 16 27
Slide 28: SEZ Projects: Current Status
SEZ Projects: Current Status PROJECTS OPTIONS Goa SEZ – Biotech Park (Verna) Develop the property as SEZ on Developable Area – ~7,800,000 sqft receipt of approval Approved by the Board of Approval Develop the property Goa SEZ – Gems & Jewellery for alternate use e.g. Park (Verna) Industrial Park Dev
Slide 29: Financial Highlights
ASHOK PIRAMAL GROUP FINANCIAL HIGHLIGHTS [al
Slide 30: Peninsula Land – Financial Snapshot
Peninsula Land – Financial Snapshot Peninsula Land has shown strong growth in earnings, stable EBITDA margins and has been acquiring land at a decent pace FY09 FY08 12 Months 12 Months Profit & Loss Summary (USDmn) Revenues 114 73 % growth 57% -19% EBITDA 33 34 % margin 29% 46% PAT 31 27 % margin 28
Slide 31: Appendix
ASHOK PIRAMAL GROUP APPENDIX [al
Slide 32: Proven Investment Strategy – Case Study I
Proven Investment Strategy – Case Study I Overview Transaction: Ashok Gardens and Peninsula Technopark Size : Development of 836,030 square feet of residential and 879,815 square feet of IT park Investment : Rs 320 million (US$7mn) Opportunity Develop centrally located land parcels in Mumbai Owner i
Slide 33: Proven Investment Strategy – Case Study II
Proven Investment Strategy – Case Study II Overview Transaction: Peninsula Business Park (Dawn Mills) Size : Development of ~1,260,000 square feet IT park Investment : Share Swap no cash outflow to Peninsula Opportunity Leverage on the success of Peninsula Corporate Park by creating a similar landma
Slide 34: Proven Investment Strategy – Case Study III
Proven Investment Strategy – Case Study III Overview Transaction: Crossroads Size : Development of 150,000 square feet Retail mall Investment : Rs 400 million mainly cost of refurbishment Opportunity Create a signature development to establish the Groups foray into real estate development sector Cro
Slide 35: Key Management Team
Key Management Team Key management team members have significant expertise Over 22 years of experience managing diversified businesses across a number of sectors Ms. Urvi Piramal Recipient of several prestigious awards, including Qimpro Gold Standard Award, Outstanding Group Chairperson Industrialis
Slide 36: Key Management Team
Key Management Team Key management team members have significant expertise Mr. Venkataraman B.E in Civil Engineering from VJTI in 1984 Head – Project & Solid project management experience in the residential and commercial space Development B Arch from CEPT, Ahmedabad in 1978 and S M Arch S from Mass
Slide 37: Organizational Structure
Organizational Structure Peninsula Land is a fully integrated real estate development and management company, with over 375 employees Peninsula Land Organizational Structure Rajeev Piramal Executive Vice Chairman Ramesh Ranganathan Head Investments Peninsula Realty Fund 4 Rajesh Jaggi Sridhar Rengan
Slide 38: Thank You
THANK YOU ASHOK PIRAMAL GROUP