Man Infraconstruction Limited · NSE:MANINFRA
Man Infraconstruction — Q3 FY2024 Earnings Presentation
45 slides from Man Infraconstruction's earnings presentation, Feb 5, 2024
Slide 1: Exchange filing cover letter
EPC RE A L ESTA TE MAN INFRACONSTRUCTION LIMITED (CIN: L70200MH2002PLC136849) 05th February, 2024 The Listing Department The Corporate Relationship Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Sandra Kurla Complex, Phiroze Jeejeebhoy Towers, Sandra (E), Mumbai - 40
Slide 2: Investor Presentation – Q3 FY24
MAN INFRACONSTRUCTION LIMITED INVESTOR PRESENTATION – Q3 FY24 February 2024
Slide 3: Safe Harbor
Safe Harbor • This presentation has been prepared by and is the sole responsibility of Man Infraconstruction Limited (the “Company” / “MICL”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. • This presentation does not constitute or form part of any offer
Slide 4: Index
Index Group Overview 04 Performance Update 15 Company Highlights 25 Industry Overview 39 3
Slide 5: MICL Group Overview
MICL Group Overview MICL INTRODUCTION BUILT WITH ETHICS, BUILT WITH ETHICS, LED WITH PASSION, LED WITH PASSION, FOCUSSED ON VALUE CREATION FOCUSSED ON VALUE CREATION
Slide 6: Establishing Landmarks
Establishing Landmarks 50+ Years of experience in construction across the Country 50+ Mn Sq. Ft. of real estate and infra. construction delivered 25 mn + Sq. Ft. of 25 mn + Sq. Ft. residential & commercial of ports, infra. & industrial development development 10+ Years of experience in Real Estate D
Slide 7: Unleashing Opportunities with Financial Strength
Unleashing Opportunities with Financial Strength Funds Raised Real Estate Real Estate Portfolio EPC Order Book Sales Visibility** Rs. 543 Cr.* ~5.7 mn sq. ft. Rs. 1,047 Cr. via preferential route ~12,000 Rs. Cr. Carpet Area Consolidated Consolidated Cash Consolidated Investments in own Balance Sheet
Slide 8: Significant Move Towards Growth: Future Ready
Significant Move Towards Growth: Future Ready Fund Raise Details • Rs. 543 Crores raised via preferential route • Issued 3.5 crore convertible equity warrants (1 share each of face value of Rs. 2 Details each) offering at an issue price of Rs. 155/- per warrant • The offer was to non-promoter invest
Slide 9: MICL Gaining Dominance
MICL Gaining Dominance Before Time Completion 01 Delivered all 16 Projects comprising 2.2 mn sq. ft. of carpet area at least 6 months to 1 year before scheduled date Negligible Inventory in Completed (OC received) Projects 02 Nearly 95% of the inventory is sold out before receipt of OC in all the pr
Slide 10: Building - The Future in Mumbai
Building - The Future in Mumbai Aaradhya Avaan Aaradhya OnePark Project at Project at 01 Tardeo 02 Ghatkopar (E) 03 Goregaon (W) 04 Vile Parle (W) and Dahisar Phase 3 • Developing one of the largest • Building one of India’s tallest residential • Developing first of its kind 12,000+ sq mt redevelopm
Slide 11: Proven Execution Capabilities
Proven Execution Capabilities EPC Projects Real Estate Projects o Built 200+ hectares of ports across India o Establishing a niche in the field of redevelopment projects - Cluster, private society and MHADA o Executing another 100+ hectares of port project at Nhava Sheva, Navi Mumbai. o Established
Slide 12: Diversified Business Verticals
Diversified Business Verticals 5.7 Mn. Sq. ft. Projects – Real Estate Portfolio ~ Rs. 1,047 Cr Order Book – EPC Portfolio ~1.9 Mn. Sq. ft. 1.3 ~110 hectares 13% 2.2 Delivered of ongoing ports & Residential of Ongoing projects Ongoing infra projects Infrastructure Upcoming 2.4 Balance Potential ~4.8
Slide 13: Strong focus on Profitability
Strong focus on Profitability Consolidated financials – Amount in (Rs. Cr) EBITDA Net Profit 43% CAGR 414 58% CAGR 259 235 216 277 248 100 97 42 32 -3 -7 FY19 FY20 FY21 FY22 FY23 9M FY24 FY19 FY20 FY21 FY22 FY23 9M FY24 12
Slide 14: Maintaining Balance Sheet strength
Maintaining Balance Sheet strength Consolidated financials – Amount in (Rs. Cr) Net Cash positive Balance Sheet Significant Secured Debt Reduction 0.4 0.3 0.1 -0.1 -0.3 513 545 360 332 299 308 240 207 228 156 44 -102 135 91 -341 Net Debt Cash & cash Eq. Net Debt/Equity ratio (x) FY20 FY21 FY22 FY23
Slide 15: Way Forward
Way Forward Expansion Strategy Global (USA) Expansion • Real Estate - Establishing presence in western suburbs of Mumbai, • Expanded Real Estate business in Miami, Florida, USA MMR and South Mumbai - Growth through Asset Light model – JV / JDA / DM • Strategic tie-up with local partners and reputed
Slide 16: Performance Update Q3FY24 & 9MFY24
Performance Update Q3FY24 & 9MFY24
Slide 17: Key Highlights Q3 & 9M FY24
Key Highlights Q3 & 9M FY24 Q3&9mFY24 - Operational Update Q3&9mFY24 - Business Update • 9m’24 – Achieved Sales volume of 1.4 lakh sq. ft. with a • Successful Launches of two Ultra-Luxurious projects in value of Rs. 353 cr mainly driven by Mulund Project Mumbai, measuring ~10.6 lakh sq. ft. of carpe
Slide 18: Two large projects delivered in less than 4 years
Two large projects delivered in less than 4 years Aaradhya OneEarth Atmosphere O2 • Delivered the entire project comprising 9 towers, • Delivered Towers ‘D’ and ‘E’ of this project comprising of ~3.6 measuring 5 lakh sq. ft carpet area for sale and ~14 lakh sq. lk sq ft of RERA carpet area in Oct- 2
Slide 19: Aaradhya OnePark
Launched Uber-Luxurious Project at Ghatkopar East -‘Aaradhya OnePark’ Achieved record sales of Rs. 333 crore upon launch Launched in Jan-24 Aaradhya OnePark Innovative Community Living Concept • Ultra-Luxurious project in Ghatkopar East, launched in Jan-24 • Achieved nearly 25% of the total estimate
Slide 20: Aaradhya Avaan
Bookings commenced at India’s most iconic residential tower in Mumbai Launched in Oct-23 Aaradhya Avaan One of the tallest towers of India • Ultra-Luxury project with RERA carpet area of ~6.5 lakh sq. ft. for sale and total construction area of ~18 lakh sq. ft. • Revenue potential of ~Rs. 3,000 cr.
Slide 21: New Acquisition: Pali Hill, Bandra West
New Acquisition: Project acquired at Pali Hill, Bandra West Acquired in Dec-23 Mumbai Luxury 50,000 sq. ft. Rs. 500 Cr 34% Pali Hill, Redevelopment Indicative carpet Indicative Stake Bandra (W) Project saleable area Topline Project Details: • Ultra luxury residences of 4 & 5 BHK configuration • The
Slide 22: New Acquisition: Goregaon West
New Acquisition: Project acquired at Goregaon West Acquired in Aug-23 Mumbai Premium 17,50,000 sq. ft. Rs. 4000 Cr 33.3% Goregaon (W) Redevelopment Indicative carpet Indicative Stake Project saleable area Topline Project Details: • One of the largest redevelopment on a 10 acre land parcel in the wes
Slide 23: Q3FY24 Performance - Company Highlights
Q3FY24 Performance - Company Highlights Consolidated financials – Amount in (Rs. Cr) Revenue from operations stands at Rs. 242 cr vs Rs. 457 cr in PY Total Income stands at Rs. 261 cr. Vs Rs. 472 cr in PY EBITDA stands at Rs. 103 cr vs Rs. 129 cr in PY KEY Net profit at Rs. 83 cr. Vs Rs. 85 cr in PY
Slide 24: Q3 & 9MFY24 Performance - Financial Highlights
Q3 & 9MFY24 Performance - Financial Highlights Consolidated financials – Amount in (Rs. Cr) Particulars Particulars Q3FY24 Q3FY23 9MFY24 9MFY23 Revenue from operations 242 457 967 1,210 Real Estate 124 205 351 687 EPC 118 252 616 523 EBITDA 103 129 277 290 EBITDA Margin 42.5% 28.2% 28.6% 23.9% PAT 8
Slide 25: Real Estate Projects: Quarterly Synopsis
Real Estate Projects: Quarterly Synopsis Sr. MICL's RERA Carpet Q3FY24 9MFY24 Project Name Location MICL's Stake No. Model area Area sold Units Sold Area sold Units Sold (JDA/JV/ (%) (sq. ft.) (sq. ft.) (nos.) DM) Aaradhya HighPark - Near 1 99.99% Own 2,21,460 3,435 7 6,259 13 Tower E & F Dahisar Aa
Slide 26: Company Financials
Seeee” pany Financials
Slide 27: Q3 FY24 and 9mFY24 Consolidated Financial Highlights
Q3 FY24 and 9mFY24 Consolidated Financial Highlights Particulars (Rs. Crs.) Q3 FY24 Q3 FY23 Y-o-Y Q2 FY24 Q-o-Q 9mFY24 9mFY23 Y-o-Y FY23 Revenue from operations 241.8 456.9 -47% 215.3 12% 966.7 1,210.1 -20% 1,890.3 Other Income 19.6 14.9 27.6 61.2 35.6 47.9 Total Income 261.3 471.8 -45% 242.9 8% 1,0
Slide 28: Historical Financial Highlights - Consolidated
Historical Financial Highlights - Consolidated Profit & Loss Statement (Rs. Crs.) 9mFY24 FY23 FY22 FY21 FY20 FY19 Revenue from Operations 966.7 1,890.3 961.5 427.2 267.0 371.4 Other Income 61.2 47.9 201.2 24.9 27.2 31.4 Total Income 1,028.0 1,938.3 1,162.7 452.1 294.2 402.8 Total Expense 690.0 1,476
Slide 29: Q3 FY24 and 9mFY24 Standalone Financial Highlights
Q3 FY24 and 9mFY24 Standalone Financial Highlights Particulars (Rs. Crs.) Q3 FY24 Q3 FY23 Y-o-Y Q2 FY24 Q-o-Q 9mFY24 9mFY23 Y-o-Y FY23 Revenue from operations 111.3 221.7 -50% 113.1 -2% 586.9 441.6 33% 797.8 Other Income 13.0 17.2 10.8 31.6 68.9 83.2 Total Income 124.2 238.9 -48% 123.9 0% 618.6 510.
Slide 30: Historical Financial Highlights - Standalone
Historical Financial Highlights - Standalone Profit & Loss Statement (Rs. Crs.) 9mFY24 FY23 FY22 FY21 FY20 FY19 Revenue from Operations 586.9 797.8 236.6 119.6 107.0 166.5 Other Income 31.6 83.2 75.3 113.8 96.3 107.5 Total Income 618.6 881.0 311.9 233.4 203.3 274.0 Total Expense 437.2 660.9 175.5 11
Slide 31: Project Portfolio
Project Portfolio
Slide 32: Two Segments but Multiple streams of Income
Two Segments but Multiple streams of Income Real Estate Projects EPC Projects DM Fee* or EPC Interest EPC PMC Equity Margin Margin or Margin Margin Margin Handling and In-house Includes Infra projects Professional Funds infused marketing the Engineering & from Government and managing of site, into o
Slide 33: Performance Snapshot: Trend
Performance Snapshot: Trend Launch Trend Sales Performance (Rs. Cr) Collections (Rs. Cr) (Carpet Area - Sq. ft. in ‘lakhs’) 1,353 1,448 10.7 1,200 992 8.4 494 80 13 876 579 821 6.7 626 549 5.3 611 412 565 353 369 424 344 3.6 165 394 258 2.6 859 3 219 869 571 568 130 462 228 176 531 353 345 428 193 2
Slide 34: Real Estate Projects: Our Business Model
Real Estate Projects: Our Business Model MICL’s MICL’s Real Estate Projects EPC Project Total Sales Project Name Location Stake Model Income Streams Income Streams Potential (JDA/JV/ DM) DM Fee Equity Margin EPC Margin PMC Margin (Rs. Cr) Aaradhya High Park – Ongoing: (Towers E & F) Near Dahisar 99.
Slide 35: Ongoing Projects: Till Date Synopsis
Ongoing Projects: Till Date Synopsis As on Dec-23 MICL's RERA Sr. Developing Type Completion Date of Project Name Location MICL's Stake Model Carpet Area sold Total Units Units Sold No. entity Status Completion$ area* (JDA/JV/ (%) (sq ft.) (sq ft.) (nos.) (nos.) (%) DM) Aaradhya HighPark - Man Vastu
Slide 36: Upcoming Real Estate Projects
Upcoming Real Estate Projects Type MICL's Model RERA Carpet Expected Launch Sr. No. Project Name Developing entity Location MICL's Stake Total Units area^ Date* (%) (JDA/JV/ DM) (sq ft.) (nos.) Ghatkopar, 11 Residential Project already 1 Aaradhya OnePark MICL Creators LLP 60.00% Own 4,14,141 244 Eas
Slide 37: Completed Projects: Synopsis
Completed Projects: Synopsis Completed time Project Sr. Total Carpet Projects Towers Type Location Model Total Units Units Sold Carpet Area Sold before scheduled Completion No. Area Date Timeline 1 Tower E, F, G, H & I Residential Own 277 237 3,28,150 2,56,288 12 Months Sep-20 - Jan-24 2 Tower D Res
Slide 38: Building Our International Presence
Building Our International Presence Edition Residences URBIN Miami Beach Location: Fort Lauderdale, Florida, USA Location: Washington Avenue, Miami Beach, Florida Type: Residential Type: Commercial, lease model Size: 81 Luxury residence units with Features: co-live, co-work, and an saleable area of
Slide 39: Ongoing EPC Projects – 4.8 mn. Sq. ft.
Ongoing EPC Projects – 4.8 mn. Sq. ft. 01 02 03 Infrastructure Residential Commercial ~1.3 Mn. sq. ft. of Construction Work ~3.2 Mn. sq. ft. of Construction Work ~0.3 Mn. sq. ft. of Construction Work • Govt. Residential: PCMC - Charholi & Ravet • Atmosphere O2* • Gateway • Aaradhya High Park^ • Aara
Slide 40: Industry Overview
Industry Overview |
Slide 41: Mumbai Real Estate Surges: A Glance in 2023
Mumbai Real Estate Surges: A Glance in 2023 Mumbai Residential Project Launch & Sales Trend Robust play of economic indicators (2023) 1,00,000 80,000 60,000 • GDP growth: Progressive 6.5%; 40,000 India continues to be the fastest growing major economy 20,000 0 • Repo Rate: Steady 6.5%; CY15 CY16 CY1
Slide 42: Real Estate Market: Poised for multi-year growth cycle
Real Estate Market: Poised for multi-year growth cycle Multifold growth in India’s real estate market size(USD billion) Favorable Long-Term Factors 5,833 • Size of India’s economy is estimated to reach USD 33 tn to USD 40 tn by 2047 1,023 477 • India's population set to hit 1.7 billion by 2047, 2022
Slide 43: Robust Infrastructure Play
Robust Infrastructure Play Large scale development initiatives by Government Strong Macro-Drivers Sagarmala Project - Port Development and modernization program - Significant Investment outlay of Rs. 5.5 trillion by 2035 • Infrastructure led economic growth • Strong emphasis laid on ‘Make in India P
Slide 44: Macro View: Port Sector in India
Macro View: Port Sector in India Overall Port Traffic State-wise break-up of investments from FY23-FY27 Percentage of total investments 2.8% 3-6% CAGR CAGR Mn tonnes 1,600 1,400 1,200 1,000 54%-56% 15-20% 5-10% 800 55% 53%-55% 55% 53% 54% 54% 15-20% 600 15-20% 400 200 44%-46% 0-5% 10-15% 45% 47% 46%
Slide 45: Thank You
THANK YOU INVESTOR RELATIONS Company: MICL Go India Advisors Name: Mr. Yashesh Parekh Name: Mrs. Sheetal Khanduja Tel: +91-8108321555 Tel: +91-9769364166 Email: Yashesh@maninfra.com Email: sheetal@goindiaadvisors.com 44
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