Ganesh Housing Limited · NSE:GANESHHOU
Ganesh Housing — Q1 FY23 Earnings Presentation
31 slides from Ganesh Housing's earnings presentation, Jul 18, 2022
Slide 1: Exchange cover letter for Q1 FY23 earnings presentation
ISO 9001 :2008 I ISO 14001 :2004 OHSAS 180 01 :2007 REF .N O./GH CL/AHMD/2022-2023/363A DATE: JULY 18, 2022 To To BSE Limited National Stock Exchange of India Limited Corporate Relation Department Exchange Plaza, Phiroze Jeejeebhoy Towers Plot No. C/1 , G Block Dalal Street, Bandra-Kurla Complex Mum
Slide 2: Ganesh Housing Q1FY23 Earnings Presentation
GANESH HOUSING Q1FY23 EARNINGS P R E S E N TAT I O N
Slide 3: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Ganesh Housing Corporation Limited (the “Company”) and no part of it shall form the basis of or be relied upon in conn
Slide 4: PE paren a
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Slide 5: Q1FY23 Highlights: Margins Significantly Higher
Q1FY23 Highlights: Margins Significantly Higher Booked area of 28,324 sqft Value of sales at INR 99 mn Collections stood at across 4 projects in Q1FY23 in Q1FY23 INR 500 mn in Q1FY23 Revenue came in at INR 427 Leveraging operational EBITDA 20% higher at INR 251 efficiencies, EBITDA margins mn, new p
Slide 6: Q1FY23 Financial Performance
Q1FY23 Financial Performance Revenue (INR Mn) EBITDA (INR Mn) 793 251 427 210 Q1FY22 Q1FY23 Q1FY22 Q1FY23 EBITDA Margins (%) PAT (INR Mn) 58.8% 131 26.5% 54 Q1FY22 Q1FY23 Q1FY22 Q1FY23 GANESH~ !.9.Yn!!!fi ~ 5
Slide 7: Capital Structure Significantly Strengthened
Capital Structure Significantly Strengthened External Debt (INR Mn) Cost of Borrowings (%) 6,486 15.1% 15.0% 4,944 3,393 13.8% 13.8% 13.1% 1,377 1,060 FY19 FY20 FY21 FY22 Q1FY23 FY19 FY20 FY21 FY22 Q1FY23 Debt/Equity (x) 0.87 0.79 0.68 0.2 0.1 FY19 FY20 FY21 FY22 Q1FY23 GANESH~ !.9.Yn!!!fi ~ 6
Slide 8: Projects Update: Malabar County 3
Projects Update A- Ongoing Projects- On Course for Early Delivery B- New Projects- Being readied for launch Malabar County 3 – construction update -························································································································································
Slide 9: Projects Update: Malabar Exotica
Projects Update Malabar Exotica – construction update o Project Update – 25% completed, moving towards early delivery o Bookings – 100% booked o Use of precast construction technology for efficient and prompt delivery GANESH~ !.9.Yn!!!fi ~ 8
Slide 10: Corporate Presentation
C O R P O R A T E P R E S E N T A T I O N
Slide 11: Snapshot: A Leading Real Estate Developer in Gujarat
Snapshot : A Leading Real Estate Developer in Gujarat ,f.i ·.\·- - - - - - - - - - - - - - - - - - - - - - - ~ - - - - - - - ................ Premium Ahmedabad focused developer with strong & differentiated brand that allows leadership position Proven ability to predict growth areas and establish pr
Slide 12: Vision and Mission
Vision and Mission Content Here I VISION Easy to change colors, photos and Text. 52% MISSION “To be the most trusted, transparent, and “To continuously innovate and use the admired real estate developer” latest technology to provide high-quality spaces to our customers” “To set up and build standard
Slide 13: Our Journey So Far
Our Journey So Far Early Phase & IPO (1991-2004) ) Fund Raising (2004-2009) ) Robust Execution (2009-2014) ) Scaling Up… (2014-2020) • Bonus issue 2:1 (2006) • Delivered 17 msf. • Highest ever cash flow of INR 2,800 Mn; crossed • NSE listing in 2007. • Turnover of more than INR turnover of INR 3,000
Slide 14: What Sets Us Apart
What Sets Us Apart Future Ready Transparent and Trustworthy Strategic Project Locations Top Quality Infrastructure Professionally Managed and Amenities Strong Brand Equity Focused on Deleveraging & Superior Reputation Innovative Planning Use of Technology – I-homes, Home GANESH~ Timely Delivery Auto
Slide 15: What we Have Achieved and What's Next
What we Have Achieved and What’s Next Particulars Completed Projects Ongoing Projects Planned Projects No. of projects Around 20 2 6 Residential - 16 Residential - 4 Type of projects Residential – 2 Commercial – 4 Commercial – 2 Area in msf 22 0.8 7.36 Actual/Exp. Completion Date Till now Feb’21 - J
Slide 16: Strategic Priorities
Strategic Priorities Being more aggressive towards both commercial and retail Strengthenin Building a team for the future, Building segment, widen customer base g Position focused approach towards Internal across price points and locations team reorganization and reorientation Organization Retaining
Slide 17: Way Forward: Plan, Prepare and Proceed
Way Forward : Plan, Prepare and Proceed What we will Achieve Sustainable growth and value creation for all the stakeholders Proceed Proceed with a larger, more efficient, and Prepare collective group. The This is what drives recent consolidation our everyday has ensured creation Plan strategy; prepa
Slide 18: Investment Thesis
I N V E S T M E N T T H E S I S
Slide 19: Key Investment Highlights
Key Investment Highlights 1 • Well Established Brand; Strong Transparency 2 • Proven Execution Track Record; Superior Planning 3 • Well Positioned in Growing Real Estate Market of Ahmedabad 4 • Robust pipeline of ongoing and new projects; Strong Revenue Visibility 5 • Balance Sheet Strengthening 6 •
Slide 20: Well Established Brand; Strong Transparency
1 Well Established Brand; Strong Transparency Ganesh Housing Corporation Limited (‘GHCL’) is the flagship company of Ganesh Group; listed since 1993 Leading residential developer across mid and higher income segment; Enviable track record of identifying several high potential locations and conve
Slide 21: Proven Execution Track Record
2 Proven Execution Track Record Maple Tree: Speed of execution to enhance shareholder value Feb’15 Apr’15 Apr’16 Apr’17 Jan’19 Land of ~ 10 acres Project launched Significant progress Construction work Completion I identified and construction made in less than completed in two start one year towers
Slide 22: Real Estate Market Outlook
3A Real Estate Market Outlook Residential and commercial sector growth • Rapid urbanisation and white collar migration • ‘Housing for all’ and ‘Affordable housing’ Suburban cities gaining traction • Markets like Ahmedabad, Pune, Chennai, Hyderabad, and Bangalore have seen a steady rise in demand
Slide 23: Ahmedabad: A Key Real Estate Hub in Gujarat
3B Ahmedabad: A Key Real Estate Hub in Gujarat Key Market of Gujarat Highly Affordable Ahmedabad Residential Real Estate Market Launches Sales Ahmedabad attracts around 40% of In 2021, Ahmedabad emerged as the most total real estate investment in affordable housing market in India, among its 10,000
Slide 24: Significant Land Reserves for Future Growth
3C Significant Land Reserves for Future Growth ~500 acres of land reserves in strategic locations across Ahmedabad 36 msf of development potential Ability to take advantage of favourable market conditions by launching projects quickly without having to acquire land Rationalize land reserves
Slide 25: Robust Pipeline of Ongoing and New Projects
4 Robust Pipeline of Ongoing and New Projects Launch within 6-12 month Launch within 12-24 month Launch within 24-36 month Large and diversified upcoming portfolio for Expected Sales Value/ balanced cash flow Capitalized Value (INR mn) Saleable/Leasable Area-msft Ongoing/upcoming projects in key
Slide 26: Balance Sheet Strengthening
5 Balance Sheet Strengthening On track to deleverage further and optimize costs through structured deals; significant debt reduction happened during past 3 years when the company was facing challenges and real estate sector was also in turmoil. l.,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Slide 27: Strong Leadership Team
6 Strong Leadership Team Dipak Kumar Patel - Chairman Shekhar Patel - MD Pankaj Teraiya – President Associated with GHCL since 1991; Veteran with an experience of over (Projects) 01 leading the land related matters and 02 25 years; leading day to day 03 BE Civil with an experience of over 27 govt. l
Slide 28: Consolidated Income Statement (Historical)
Consolidated Income Statement (Historical) Particulars (INR mn) FY22 FY21 FY20 FY19 FY18 Revenue 3,849 1,820 2,773 2,672 5,082 EBITDA 1,355 (377) (504) 770 2,031 1 EBITDA (%) 35.2% (20.7%) (18.2%) 28.8% 39.9% Depreciation 20 17 21 23 26 EBIT 1,335 (394) (525) 747 2,005 Interest 363 748 799 917 1,005
Slide 29: Balance Sheet (Historical)
Balance Sheet (Historical) Particulars (INR mn) FY22 FY21 FY20 FY19 FY18 Equity Share Capital 834 492 492 492 492 Reserves & Surplus 7,064 4,528 5,750 6,980 8,400 Minority Interest 870 871 931 927 927 Shareholder’s Equity 8,768 5,891 7,173 8,399 9,819 Borrowings 1,377 3,393 4,944 6,486 6,770 Other L
Slide 30: Cash Flows and Ratios (Historical)
Cash Flows and Ratios (Historical) Particulars (INR mn) FY22 FY21 FY20 FY19 FY18 Operating Cash Flow excl. WC 1,341 (658) (663) (469) 1,470 Working Capital Changes (931) 1,980 1,890 1,761 (717) Investment Activities 394 434 531 841 260 Financing Activities (852) (1,726) (2,022) (2,162) (1,045) Ratio
Slide 31: Thank You
THANK YOU