Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q2 FY24 Earnings Presentation
39 slides from Godrej Properties's earnings presentation, Nov 2, 2023
Slide 1: Exchange cover letter: Investors Presentation and Press Release
Godrej Properties Limited Regd. Office: Godrej One 5th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai – 400 079. India Tel.: +91-22-6169-8500 Fax: +91-22-6169-8888 Website: www.godrejproperties.com CIN: L74120MH1985PLC035308 November 02, 2023 BSE Limited Phiroze Jeejeebhoy Tower
Slide 2: Results Presentation Second Quarter, Financial Year 2024
R E S U LT S P R E S E N T A T I O N SECOND QUARTER, FINANCIAL YEAR 2024 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 3: Disclaimer
DISCLAIMER Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operation
Slide 4: Agenda
AGENDA Overview 01 Q2 FY24 Operational Highlights 02 Q2 FY24 Financial Highlights 03 Annexure 04 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 5: Godrej Group
GODREJ GROUP • Established in 1897 Value Creation Track Record • $6 billion in annual revenue 22 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth • 1.1 billion people globally use a Godrej product1 • Godrej ranks amongst the most trusted Indian brands2 BSE Sensex 14% 20 •
Slide 6: Godrej Properties
GODREJ PROPERTIES • Established in 1990 • India’s largest developer by number of homes sold in FY23 • Successfully delivered ~38 million sq. ft. of real estate in the Chandigarh 0.5, 1 past five years NCR 39.4, 25 • ~214 million sq. ft. of saleable area across India • Differentiated asset-light busi
Slide 7: Strengths
STRENGTHS 1 1.1 billion people globally use a Godrej product Godrej Brand Godrej Properties ranked as the most trusted real estate brand in the 2019 Brand Trust Report GPL brings the Godrej brands reputation for trust, quality and corporate governance to the real estate sector Effective Land
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth over ~6X an identical investment into the BSE Realty Index Value Creation Track Record 13 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 10.0% 3.69 Godrej Properties 15.0% 6.82 BSE Realty Index 0
Slide 9: Agenda
AGENDA Overview 01 Q2 FY24 Operational Highlights 02 Q2 FY24 Financial Highlights 03 Annexure 04 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 10: Q2 FY24 Highlights
Q2 FY24 HIGHLIGHTS Ÿ GPLs highest ever quarterly sales - booking value stood at INR 5,034 crore, a YoY growth of 109%, from the sale of 5.24 million sq. ft. Ÿ Godrej Tropical Isle, Noida was GPLs most successful ever launch achieving a booking value of INR 2,016 crores from Sales Highlights 1.51 m
Slide 11: Sales Highlights
SALES HIGHLIGHTS Particulars Q2 FY24 Q2 FY23 Growth Q1 FY24 Growth H1 FY24 H1 FY23 Growth Area Sold ( million sq. ft.) 5.24 2.71 93% 2.25 132% 7.49 5.54 35% Booking Value (INR Cr) 5,034 2,409 109% 2,254 123% 7,288 4,929 48% Customer Collections (INR Cr) 2,378 1,930 23% 1,954 21% 4,332 3,485 24% Stro
Slide 12: Sales Highlights (Contd.) City-wise Sales Breakdown
SALES HIGHLIGHTS (Contd.) City-wise Sales Breakdown for Q2 FY24 NCR MMR Registered booking value of INR 2,740 crore through sale of Registered booking value of INR 802 crore through sale of 1,719 units with total sales of 2.90 million sq. ft. 393 units with total sales of 0.47 million sq. BENGALURU
Slide 13: Project Booking
PROJECT BOOKING Particulars Booking Area (mn. sq. ft.) Booking Value (INR Cr) Q2 FY24 H1 FY24 Q2 FY24 H1 FY24 Godrej Tropical Isle (Sector 146), Noida 1.51 1.51 2,016 2,016 Godrej Parkland Estate (Sector 41), Kurukshetra 1.39 1.39 628 628 Godrej Park Retreat, Bengaluru 0.66 0.66 573 573 Godrej Avenu
Slide 14: Quarterly Sales Trend
QUARTERLY SALES TREND Quarterly Sales Value 5,034 4,051 3,248 3,252 (INR cr) 2,520 2,409 2,254 1,541 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1FY24 Q2FY24 Quarterly Sales Volume 5.25 5.24 4.24 4.42 (Million sq. ft.) 2.83 2.71 2.22 2.25 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3FY23 Q4FY23 Q1FY24 Q2F
Slide 15: Business Development
BUSINESS DEVELOPMENT Added 1 new project with an estimated saleable area of 2.2 million sq. ft. and expected booking value of INR 725 crore in Q2FY24 Nagpur Plotted 2 • Spread across approximately 109 acres, the project will offer 2.2 million sq. ft. of plotted development. The land parcel is strate
Slide 16: Launch Tracker FY24
LAUNCH TRACKER FY24 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY24 New Phase Launches Planned in FY24 Launch Launch Project City Status Project City Status Area* Area* Godrej Emerald Wa
Slide 17: Construction Highlights
CONSTRUCTION HIGHLIGHTS Delivered ~1.55 million sq. ft. in Q2 FY24 Godrej Nirvaan, MMR Godrej Greens, Pune 0.68 million sq. ft. 0.87 million sq. ft. GPL Economic Interest : GPL Economic Interest : Profit Based – 50% Profit Share – 40% 16 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 18: Opening of Taj The Trees at Vikhroli, GPL's First Hospitality Development
OPENING OF TAJ THE TREES AT VIKHROLI, GPL’S FIRST HOSPITALITY DEVELOPMENT IN OCTOBER, 2023 Taj The Trees in Vikhroli, Mumbai Owned by GPL and managed in partnership with Tata Group State of the art lobby Banquet - capacity of 380+ guests Meeting rooms Capacity of 172 guests Standard | Co-w
Slide 19: FY24 Guidance vs Actual
FY24 GUIDANCE VS ACTUAL FY23 FY24 FY24 YTD Achieveme Updated Particulars Actual Guidance Actual nt (%) Assessment* Booking Value (INR Crore) 12,232 14,000 7,288 52% Cash Collections (INR Crore) 8,991 10,000 4,332 43% Deliveries (Million Sq. Ft.) 10.47 12.50 6.5 52% Business Development (by expected
Slide 20: Global Recognition for Sustainability Initiatives
GLOBAL RECOGNITION FOR SUSTAINABILITY INITIATIVES Ÿ GRESB is an industry-driven organization committed to rigorous and independent evaluation of the sustainability performance of real estate assets across the globe. It widely recognized as the global standard for portfolio-level ESG reporting and be
Slide 21: Sustainability – ESG Performance and CSR Impact
SUSTAINABILITY – ESG PERFORMANCE AND CSR IMPACT Ÿ GPL remains a part of FTSE Good Index Series Ÿ The Science Based Targets initiative has validated that the corporate greenhouse gas emissions reduction target(s) submitted by GPL ESG Ratings & and these have been deemed to be in conformance with the
Slide 22: Awards and Recognitions
AWARDS AND RECOGNITIONS Received 37 awards in Q2 FY24 ILLUSTRATIVE LIST OF AWARDS GODREJ PROPERTIES PROJECT AWARDS Ÿ Euromoney's Global Real Estate Awards 2023 Ÿ Godrej Greens, Pune | Godrej Meadows, Pune | Godrej Sky Green, Pune Winner - Best Residential Developer –India | Godrej Park Springs, Pune
Slide 23: Agenda
AGENDA Overview 01 Q2 FY24 Operational Highlights 02 Q2 FY24 Financial Highlights 03 Annexure 04 22 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 24: Consolidated Financial Statements – P & L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q2 FY24 Q2 FY23 % Change Q1 FY24 % Change H1 FY24 H1 FY23 % Change Total Income 571 327 75% 1,315 -57% 1,886 702 169% Adjusted EBITDA** 178 98 82% 317 -44% 494 230 115% EBITDA** 167 94 76% 230 -27% 396 210 88% Profit before tax 111 48 13
Slide 25: Consolidated Financial Statements - Cashflow
CONSOLIDATED FINANCIAL STATEMENTS - CASHFLOW (INR Cr) Notes Particulars Q2 FY24 H1 FY24 Operating cashflow Total operating cash inflow1 2,656 4,889 Operating cash outflow A Construction & related outflow -911 -1,851 Other project related outflow -934 -2,109 Total operating cash outflow -1,845 -3,960
Slide 26: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 30.09.2023 As on 31.03.2023 A Assets Unaudited Audited 1 Non Current assets a Property, plant & equipment 174.67 153.16 b Right-of-Use Asset 14.12 17.07 c Capital Work-in-Progress 772.65 652.44 d Investment Property 31.41 32.19
Slide 27: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 30.09.2023 As on 31.03.2023 B Equity and Liabilities Unaudited Audited 1 Equity a Equity share capital 139.02 139.01 b Other equity 9,319.69 9,125.19 c Non-controlling interest 24.66 22.95 Total Equity 9,483.37 9,287.15 2 Liabi
Slide 28: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators (INR Cr) Particulars Q2 FY24 Q2 FY23 Q1 FY24 H1 FY24 H1 FY23 Adjusted EBITDA / Total 31.1% 29.9% 24.1% 26.2% 32.8% Income** EBITDA / Total Income* 29.2% 28.9% 17.5% 21.0% 30.0% PBT Margin % 19.5% 14.8% 14.7% 16.1% 17.7% Net Profit Margin% # 11.7% 16.8% 9.5
Slide 29: Agenda
AGENDA Overview 01 Q2 FY24 Operational Highlights 02 Q2 FY24 Financial Highlights 03 Annexure 04 28 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 30: A. Residential Projects
A. RESIDENTIAL PROJECTS 29 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 31: A. Residential Projects
A. RESIDENTIAL PROJECTS 30 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 32: A. Residential Projects
A. RESIDENTIAL PROJECTS 31 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 33: A. Residential Projects
A. RESIDENTIAL PROJECTS 32 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 34: A. Residential Projects
A. RESIDENTIAL PROJECTS 33 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 35: B. Commercial Projects
B. COMMERCIAL PROJECTS 34 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 36: Thank You
THANK YOU For further information, please contact: Rajendra Khetawat Godrej Properties Limited Tel: +91 22 6169 8500 Fax: +91 22 6169 8888 Email: rajendra@godrejproperties.com 35 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY24
Slide 37: Press Release: Consolidated Financials for Q2 FY24 Results
GODREJ PROPERTIES LIMITED CIN : L74120MH1985PLC035308 Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express Highway, Mumbai – 400079 PRESS RELEASE Consolidated Financials for Q2 FY24 Results Bookings grew by 109% to INR 5,034 crore Total Income grew
Slide 38: Press Release: Other Highlights and Chairperson Comment
Other Highlights Collections grew by 23% to INR 2,378 crore in Q2 FY24, leading to net operating cash flow of INR 811 crore in Q2 FY24 Delivered ~1.55 million sq. ft. across 2 markets in Q2 FY24 GPL received 37 awards in Q2 FY24 Commenting on the performance of Q2 FY2024, Mr. Pirojsha Godrej,
Slide 39: About Godrej Properties Limited
About Godrej Properties Limited: Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 126- year legacy of excellence and trust with a commitment to cutting edge design, technology