Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Q1 FY20 Earnings Presentation
41 slides from Mahindra Lifespace Developers's earnings presentation, Jul 26, 2019
Slide 1: Mahindra Lifespace Developers Ltd. exchange intimation
mahlndra Mahindra Lifespace Developers Ltd. LIFESPACES CIN: L45200MH1999PLC118949 Mahindra Towers, 5th Floor, Or. G. M. Bhosale Marg, Worli, Mumbai 400 018, India Tel: +91 22 67478600 / 8601 th 26 July, 2019 Fax: +91 22 24975084 www.mahindralifespaces.com SSE Limited National Stock Exchange of India
Slide 2: Investor Presentation – Q1 FY20
Artist’s impression of ‘CENTRALIS’ @ Pune Investor Presentation – Q1 FY20 1
Slide 3: Contents
Contents ▪ Key Highlights ▪ Residential Business Update ▪ Integrated Cities & Industrial Clusters Update ▪ Financial Update 2
Slide 4: Key Highlights
Key Highlights The operating highlights from Slide 4 to Slide 24 are for the Company and its subsidiaries / joint ventures / associates engaged in the real estate business (mainly MLDL, MHPL, MBDL, MITL, MRDL, MHDL, MWCDL, MWCJL, MIPCL & MIPPL) Disclaimer: The Company has registered its ongoing proj
Slide 5: Key Highlights – Q1 FY20
Key Highlights – Q1 FY20 o Achieved sales of 0.22 msft valued at Rs. 120 Crs. Residential * o Attained collections of Rs. 234 Crs and handed over 461 units. o Completed 0.16 msft of development area in Pune. Integrated o Leased 9.4 acres for a lease premium of Rs. 25.1 Crs. Cities & • Mahindra World
Slide 6: Financial Highlights
Financial Highlights All figures in Rs. Crs For MLDL Consolidated Q1 2020 Q4 2019 Q1 2019 (As per IND AS) Total Income 120 247 176 EBIDTA 19 38 43 PAT 13 31 27 For MLDL Consolidated Q1 2020 FY 2019 (As per IND AS) Net Debt -54 -66 Net Worth 1943 1930 Net Debt Equity Ratio -0.03 -0.03 Average Cost of
Slide 7: Business Overview
Business Overview Residential Integrated Cities & Industrial Clusters Mid and Premium Affordable Integrated Cities Industrial Clusters Residential Housing Brand: Brand: Brand: Brand: Development Development 3.12 Gross Area Gross Area Footprint** 22.13 Footprint** 4437 626 msft msft acres acres Compl
Slide 8: Residential Business Update
Residential Business Update 7
Slide 9: Sales – Annual Trend
Sales – Annual Trend 1,500 1.69 1.80 1,300 1.60 1.38 1.40 1,100 1.18 1.16 1,023 1.20 900 836 0.90 1.00 700 709 0.80 611 500 536 0.60 300 0.40 100 0.20 (100) FY15 FY16 FY17 FY18 FY19 - Sales Value (Rs. Crs) Saleable Area (msft) Launches* msft 2.43 0.99 0.58 1.17 1.55 Compl~ etions* msft 1.28 3.29 0.9
Slide 10: Sales – Quarterly Trend, Launches and Completions
Sales – Quarterly Trend 662 Q1 FY20 Sales Project Name Value (Rs. Crs) Vivante -4 0.65 Roots 1 Happinest Boisar 4 345 350 Happinest Palghar 1 2 316 407 Antheia 23 0.40 Centralis 13 0.35 209 0.29 256 Bloomdale 11 215 Luminare # 19 0.22 144 Windchimes 19 120 Aqualily 13 Lakewoods 8 Q1 FY19 Q2 FY19 Q3
Slide 11: Sales - City and Price Segment wise
Sales - City and Price Segment wise Q1 FY20 City-wise Sales (Volume) Q1 FY20 City-wise Sales (Value) 10% 6% 3% MMR 16% MMR Pune Pune 25% 30% Nagpur Nagpur NCR NCR 38% Hyderabad 26% Hyderabad Chennai Chennai 12% 9% Bengaluru Bengaluru 8% 16% 0% 0% Q1 FY20 Price Segment-wise Sales (Volume) Q1 FY20 Pri
Slide 12: Operating Metrics
Operating Metrics Collections & Construction Spend (Rs. Crs) Completions & Launches (msft) 301 1.0 249 234 218 195 0.6 0.5 0.4 103 0.3 82 83 0.2 64 62 0.2 0.1 0.16 0 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Customer Collections Construction Spend Completions La
Slide 13: Project Portfolio
Project Portfolio Saleable Area (msft) # Location Ongoing Forthcoming Land Inventory MMR** 0.78 2.17 0.94 Pune 0.50 0.68 - Nagpur 0.84 - - NCR* 0.41 0.37 - Bengaluru 0.43 0.74 - Chennai 0.59 1.19 9.50 Total 3.54 5.16 10.44 Total Completed Development – 16.55*** msft * NCR includes Delhi, Gurgaon and
Slide 14: Summary of Ongoing and Forthcoming Projects
Summary of Ongoing and Forthcoming Projects All figures in msft Total Launched Completed Ongoing Balance (To Company / Region Project Name Development Development Development Development be launched) SPV A B C D E = (A-C-D) MMR Serenes MLDL 0.16 0.06 - 0.06 0.09 Vivante MLDL 0.16 0.16 - 0.16 - Roots
Slide 15: Development mix of Ongoing Projects
Development mix of Ongoing Projects Indicative Area Range Region Project Name Location Segment Development Mix Prices Saleable (sqft) (Rs. Crs) MMR Serenes Alibaug Luxury 3, 4 BHK Villas 3000 - 3400 3 - 3.5 Vivante Mumbai Mid-Premium 1, 2, 2.5 & 3 BHK 740 - 2041 1.5 - 4 Roots Mumbai Mid-Premium 1 &
Slide 16: Summary of Ongoing Projects
Summary of Ongoing Projects Launched PTD Area PTD Sales RERA Location Project Name Development* Sold % Completion** Value Completion (msft) (msft) (Rs. Cr) Date*** MMR The Serenes I 0.06 0.02 81% 13.8 Dec-19 Vivante 0.16 0.16 96% 264.5 Oct-19 Roots 0.14 0.09 41% 114.1 Sep-22 Happinest Palghar 1 - I
Slide 17: Forthcoming Projects
Forthcoming Projects Est. Saleable Area* Segment Location Name of the Project msft Subsequent Phases of Existing Projects MMR Serenes 0.09 NCR Luminare # 0.37 Mid & Premium Residential Aqualily 0.07 Chennai Lakewoods 0.62 Affordable Housing Chennai Happinest Avadi 0.10 TOTAL - Subsequent Phases of E
Slide 18: Balance Inventory in Completed Projects
Balance Inventory in Completed Projects Balance units Balance area Location Project Name Company MLDL Holding to sell * to sell (msft) * MMR Happinest Boisar MLDL 100% 133 0.06 Pune Antheia MLDL 100% 40 0.06 Nagpur Bloomdale MBDL 100% 5 0.01 NCR Luminare # MHPL 50% 25 0.07 Bengaluru Windchimes MHPL
Slide 19: Cash Flow Potential
Cash Flow Potential Value Particulars ( Rs. Cr) Ongoing & Completed Sales completed in ongoing projects 1391 Projects Less : Amount collected from sales 624 Net amount to be collected on completed sales 766 Estimated sales from finished goods & balance inventory in ongoing projects # 1105 Less: Esti
Slide 20: Integrated Cities & Industrial Clusters Update
Integrated Cities & Industrial Clusters Update 19
Slide 21: Mahindra World City, Chennai – Business Update
Mahindra World City, Chennai – Business Update • Total number of customers: 80 (66 Operational) Total Area Procured – 1524 acres | Leasable Area – 1145 acres 425 425 422 419 298 272 SEZ DTA Resi & Social Total Leasable Area (in acres) Leased Area (in acres) 4 30 4 Dorma Kaba facility in DTA 3.7 25 4
Slide 22: Mahindra World City, Jaipur – Business Update
Mahindra World City, Jaipur – Business Update Total Area Procured – 2913 acres | Leasable Area – 2011 acres • Total number of customers: 89 (58 Operational) • Leased 2 acres during Q1 FY20 1026 ✓ Podar Education Trust (Social): 2 Acres 695 408 356 290 50 SEZ*** DTA Resi & Social ** Total Leasable Ar
Slide 23: Creating Economic Value
Creating Economic Value Mahindra World City Chennai Mahindra World City Jaipur 11,334 11,417 39,500 39,500 39,500 10,230 8,396 8,300 38,000 38,000 9,359 10,202 11,428 12,683 2,959 1,128 1,245 1,311 1,552 422 FY16 FY17 FY18 FY19 Q1 FY20 FY16 FY17 FY18 FY19 Q1 FY20 Exports (Rs. Crs.)* Employment (Dire
Slide 24: Industrial Parks – Origins, Ahmedabad & North Chennai
Industrial Parks – Origins, Ahmedabad & North Chennai 340 286 Area in acres 221 206 30 0 Ahmedabad North Chennai Gross Area Leasable Area* Leased Area Ahmedabad Project Details: (Forthcoming) North Chennai Project Details: (Ongoing) – SPV Name: MIPPL – SPV Name: MIPCL – Location: Jhansali Village, L
Slide 25: Recurring Rental Income
Recurring Rental Income Recurring Income & Expenses (Rs. Crs) Evolve, MWCJ 25 21 22 20 20 20 20 Total area 0.431 msft 15 Area leased 0.405 msft 12 10 9 9 8 8 Mahindra Towers, Delhi 5 0 Total area 0.056 msft IncomeExpenses IncomeExpenses IncomeExpenses IncomeExpenses IncomeExpenses Q1 FY19 Q2 FY19 Q3
Slide 26: Financial Update
Financial Update 25
Slide 27: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated Statement of Profit and Loss All figures in Rs. Crs Particulars Q1 2020 Q4 2019 Q1 2019 FY 2019 Income Income from Operations 106.2 234.3 154.0 592.8 Other Income 14.1 12.6 21.8 61.0 120.3 246.9 175.8 653.9 Expenditure Operating Expenses 65.6 183.5 100.9 409.6
Slide 28: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated Balance Sheet All figures in Rs. Crs EQUITY & LIABILITIES Q1 2020 FY 2019 ASSETS Q1 2020 FY 2019 Property, Plant and Equipment 15.5 7.6 Equity Share capital 51.4 51.4 Capital work-in-progress 10.1 9.8 Other Equity 1,891.3 1,878.2 Investment Property 21.4 21.4 N
Slide 29: Key Highlights
Key Highlights Total Income (Rs. Crs) Operating Income (Rs. Crs) 234 247 154 176 124 137 106 120 94 80 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 EBITDA (Rs. Crs) and EBIDTA Margin PAT (Rs. Crs) and PAT Margin 41 57% 44% 31 53 27 43 21 38 15% 13 25 24% 19 18% 15%
Slide 30: Key Highlights
Key Highlights Gross Debt Equity Ratio Net Debt Equity Ratio 0.15 0.04 0.12 0.12 0.12 0.10 0.01 0.00 -0.03 -0.03 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Interest Rate 9.08% 9.07% 8.96% 8.84% 8.56% Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Interest rate has been
Slide 31: Residential and IC & IC Business Performance
Residential and IC & IC Business Performance 30
Slide 32: Residential and IC&IC Business Performance
Residential and IC&IC Business Performance All figures in Rs Crs unless specified Residential * IC & IC Particulars Q1 2020 Q1 2020 Area Sold (msft) / Land Leased (acres) 0.22 9.41 Sales / Lease Income 120 25 Total Income 153 45 EBIDTA 22 17 EBIDTA Margin (%) 14.5% 37.4% PAT 10 3 PAT Margin (%) 6.6%
Slide 33: Summary of Key Financials by Legal Entities for Q1 FY20
Summary of Key Financials by Legal Entities for Q1 FY20 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total Entity Name Interest Income EBIDTA PAT Debt Net Worth MLDL 100.0% 99.1 12.5 9.7 133.3 1,761.2 MHPL^ 50.0% 93.9 11.0 (0.9) # 784.3 (25.2) MBDL 100.0% 2.7 0.4 0.2 #
Slide 34: Annexures
Annexures 33
Slide 35: Structure Overview
Structure Overview Note: Overview includes asset owning SPVs only. Shareholding percentage are based on common equity capital in SPVs as on June 2019. Numbers are rounded to the nearest percentage. # MIPPL is a strategic partnership between MLDL and IFC. 34
Slide 36: Management Structure
Management Structure Non-Executive Chairman Arun K Nanda MD & CEO - MLDL CEO - Happinest Sangeeta Prasad Arvind Subramanian Mid-Premium Corporate Integrated Cities & Industrial Clusters Happinest Residential Chief Business Chief Legal Officer and Business Head – MWC Business Head – MWC Development O
Slide 37: Geographic presence of residential business
Geographic presence of residential business Total (msft) Mid-Premium Happinest Completed*: 15.58 0.97 Ongoing**: 2.97 0.57 Forthcoming**: 3.58 1.57 Note: All figures in msft of Saleable / Leasable area Land Inventory**: 10.44 – Total: 32.57 3.12 Completed area includes 1 msft of Commercial developme
Slide 38: Completed Projects
Completed Projects Area Area Area Area Location Name of the Project Location Name of the Project (mn sqm) (msft) (mn sqm) (msft) Mumbai Eminente 0.05 0.57 NCR Aura 0.13 1.36 Splendour 0.07 0.78 Luminare I # 0.03 0.37 Mahindra Park 0.02 0.19 Chloris 0.04 0.39 Mahindra Heights 0.01 0.06 Central Park 0
Slide 39: Glossary
Glossary Classification of projects is as under: a. Completed: projects where construction has been Actis Actis GP LLP completed and occupancy certificates have been DTA Domestic Tariff Area granted by the relevant authorities HDFC HDFC Capital Affordable Real Estate Fund-1 Capital b. Ongoing: proje
Slide 40: Disclaimer
Disclaimer ▪ This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Develo
Slide 41: Thank You
Thank You Investor Relations Contact Mr. Sumit Kasat General Manager – Finance & Investor Relations Phone : +91-22-67478645 Email: kasat.sumit@mahindra.com Mahindra Lifespace Developers Limited CIN L45200MH1999PLC118949 th 5 Floor, Mahindra Towers, Worli, Mumbai - 400 018. Tel: 022 6747 8600/ 6747 8
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