Slide 1: Exchange filing cover letter
May 08, 2024 To To National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block Phiroze Jeejeebhoy Towers Bandra-Kurla Complex, Bandra (East) 21* Floor, Dalal Street Mumbai — 400 051 Mumbai — 400 001 NSE Symbol: SURAJEST BSE Scrip Code: 544054 Dear Sir/ Madam, Sub: Inve
Slide 2: Suraj Estate Developers Limited Investor Presentation May 2024
Suraj Estate Developers Limited Investor Presentation May 2024
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Suraj Estate Developers Limited (the “Company”). 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 or invitati
Slide 4: Message From The Executive Director
Message From The Executive Director Commenting on the performance for FY24, Mr. Rahul Thomas, Executive Director, Suraj Estate Developers, said, “The residential real estate market in India soared in Q1 of calendar year 2024, fueled by persistent high demand. High-end and luxury segments led the cha
Slide 5: FY24 Financial and Operational Highlights
FY24 Financial and Operational Highlights
Slide 6: FY24 Operational & Financial Performance
FY24 Operational & Financial Performance Total Income EBITDA EBITDA Margin PAT Rs 415.7 crs Rs 236.4 crs 56.9% Rs 67.5 crs 35% yoy 54% yoy 710 bps 111% yoy Sales Area (Sq Ft) Sales Value (Rs cr) Collections (Rs cr) 142,817 Commercial Residential 635 346 316 39,773 197 483 269 1,07,136 89,949 360 1,0
Slide 7: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement In Rs Crs Particulars Q4FY24 Q3FY24 Q-o-Q (%) FY24 FY23 Y-o-Y (%) Revenue from operations 100.4 106.0 412.2 305.7 Other income 2.7 0.2 3.5 2.1 Total income 103.0 106.1 -2.9% 415.7 307.9 35.0% Expenses Operating and project expenses 79.0 71.1 222.0 166.0 Changes i
Slide 8: Consolidated Balance Sheet
Consolidated Balance Sheet In Rs Crs Particulars Mar-24 Mar-23 Particulars Mar-24 Mar-23 ASSETS EQUITY AND LIABILITIES Equity Non-current assets a) Equity share capital 21.4 15.9 a) Property, plant and equipment 22.5 3.4 b) Other equity b) Intangible assets 10.8 12.1 - Other reserves 511.7 71.7 - Ca
Slide 9: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement In Rs Crs Particulars FY24 FY23 CASH FLOW FROM OPERATING ACTIVITIES Profit before taxes 93.9 43.2 Adjustments for Interest expenses/income, depreciation 142.3 106.7 Operating profit / (loss) before working capital changes 236.1 149.9 Changes in Working Capital -210.0
Slide 10: Listed on the Stock Exchanges on 26th December 2023
Suraj Estate Developers Limited was listed on the Stock Exchanges on 26th December,2023
Slide 11: Objects Of The Issue
Objects Of The Issue Utilization Of IPO Proceeds Particulars Amount (Rs cr) Repayment / prepayment of aggregate outstanding borrowings of the Company and 285 IPO Proceeds Subsidiaries Rs 400 Crs Acquisition of land or land development rights 35 Issue Expenses 35 General corporate purposes 45 Repaid
Slide 12: Leading Real Estate Developer in South Central Mumbai
‘Suraj’- Leading Real Estate Developer in South Central Mumbai (SCM) 1+ Million sq.ft. constructed in prime locations in the South-Central Mumbai 42 18 Upcoming Projects Completed projects across residential & commercial segments 37 Years of experience in the real estate market of South-Central Mumb
Slide 13: One of the Market Leaders in Redevelopment Projects in SCM
One of the Market Leaders in Redevelopment Projects in SCM* Sub-markets of South ONE OF THE MARKET LEADERS IN REDEVELOPMENT Central Mumbai (SCM) Value Luxury 1 BHK and compact 2 Mahim BHK flats 263 Projects Launched in SCM sub-markets Matunga Dadar Luxury 160 (~61%) 103 (~39) 2/3/4 BHK flats Redevel
Slide 14: Redevelopment Expertise
Redevelopment Expertise Step 0 Timelines Identification Of Land Bank (Plot Size, Title, Location, Tenant Density& FSI Scheme) Step 1 Zero Date Acquisition of land by way of Conveyance / Development Rights / JDA Step 2 4-6 Months Obtaining 51% consent of tenants for redevelopment Step 3 3 Months Obta
Slide 15: SCM: A Lucrative Micro Market In Mumbai
SCM : A Lucrative Micro Market In Mumbai Dynamics of SCM Market Large pool of old/dilapidated buildings Close proximity to key locations such as BKC, Worli sea link, Lower Parel, etc One of the few locations which allows residential + commercial projects to be constructed 18 Improving infrastructure
Slide 16: Our Journey Spanning Over 37 Years
Our Journey Spanning Over 37 Years 1986 1990 1992 2000 2005 Incorporated as a private Completed maiden Delivered a building at Delivered ‘ICICI Apartments’ at Delivered 14 residential limited company residential project at Dadar (W) to a public Dadar (W) as office quarters apartments in Dadar (W) to
Slide 17: Proven Track Record Of Delivering Residential And Commercial Projects
Proven Track Record Of Delivering Residential And Commercial Projects Timeline of completed projects Residential and Commercial Projects 9 2,40,412 8 2,04,957 6 1,85,649 1,59,720 1,65,418 8 7 90,386 4 1990-1995 1996-2000 2001-2005 2006-2010 2011-2015 2016-2022 Developed areas Consultant and Contract
Slide 18: Comparison Of Various Business Models In MMR Region
Comparison Of Various Business Models In MMR Region Redevelopment of Tenanted Properties Redevelopment of Society Vacant Land- Normal Parameters (Conveyance/ DA) Under DCPR 33(7) Under DCPR 33(7) B Development Land Status Conveyance / DA DA Conveyance / JDA Upfront Capital Requirement Moderate Low H
Slide 19: Competitive Strengths
COMPETITIVE STRENGTHS
Slide 20: Competitive Strengths
Competitive Strengths Diversified Portfolio Across Value Marketing & Sales Strategy Luxury And Luxury Segments High Engagement Levels Through The Customer Present Across Price Points, Unit Lifecycle Create Network Effect Sizes And Sub-Markets In The SCM Experienced Board Of Directors With A Proficie
Slide 21: Established Residential Real Estate Brand in SCM
Established Residential Real Estate Brand in SCM Leading Market Position & Ability To Sell During Construction Phase 60% Ongoing Residential Projects 16% 13% 11% Project Sale In terms of supply of Developa Carpet Area Unsold Sales Avg Collection % of Sr. Project Sold Area Realisat units 1#1st ble Ar
Slide 22: Diversified Portfolio Across Value Luxury And Luxury Segments (1/2)
Diversified Portfolio Across Value Luxury And Luxury Segments (1/2) Present Across Price Points, Unit Sizes And Sub-Markets In The SCM Ongoing Projects Upcoming Projects Carpet Area For Sale* Estimated Carpet Area For Sale** Total Total 7% 6,09,928 9,01,307 sq.ft. 12% sq.ft. 19% 35% 17% 39% 4% 67% C
Slide 23: Diversified Portfolio Across Value Luxury And Luxury Segments (2/2)
Diversified Portfolio Across Value Luxury And Luxury Segments (2/2) Ongoing Projects : Presence across unit sizes and price points No. of offerings 12 Value Luxury Luxury Ticket Size : INR 10-30 mn Ticket Size : INR 30-13 mn 6 4 4 3 2 1 1 300-400 400-500 500-650 650-800 800-950 1000-1300 1300-1500 1
Slide 24: Strong Expertise In Tenant Settlement In Redevelopment Projects
Strong Expertise In Tenant Settlement In Redevelopment Projects Strong Track Record Of Tenant Settlement Redeveloped houses for 1,011 tenants free-of-cost Preferred Redevelopment Developer Freed up considerable FSI for commercial development As most land parcels in SCM are in the nature of redevelop
Slide 25: Marketing & Sales Strategies
Marketing & Sales Strategies High Engagement Levels Through The Customer Lifecycle Create Network Effect Marketing Team Sourcing Team Customer Centric Approach › Identifies target market groups › Interacts with channel Continuous customer engagement during and uses promotional tools to partners to d
Slide 26: Market Opportunity (1/2)
Market Opportunity (1/2) MMR is the top performer* in overall residential real estate activity Supply Absorption MMR CAGR in value terms over a 35% 30% Others 10% longer term 65% 70% New launches in 2024 are likely to be almost 2 times as compared to (No of units) MMR Others 2X 2021 levels and are e
Slide 27: Market Opportunity (2/2)
Market Opportunity (2/2) Redevelopment is a large, ongoing opportunity in SCM SCM is an attractive real estate market o High income, discerning customer base 52,000 19,642 16,502 o Aspirational value/premium product positioning units o High demand across multiple segments and price points Supply fro
Slide 28: Experienced Board Of Directors
Experienced Board Of Directors… Rajan Meenathakonil Thomas Sujatha R. Thomas Rahul Rajan Jesu Thomas PROMOTER , CHAIRPERSON & MD NON-EXECUTIVE DIRECTOR WHOLE - TIME DIRECTOR Education: B.A. Education: B.A. Education: B.Com, Corporate Finance certificate from Harvard University Experience : 36 Years
Slide 29: Experienced Board Of Directors
Experienced Board Of Directors… Shreepal Shah Shivil Kapoor Anand Vyas CHIEF FINANCIAL OFFICER COMPANY SECRETARY, COMPLIANCE OFFICER VICE PRESIDENT - SALES Education: B.E, MBA Education: B.Com, LLB, CS Education: PGD in Marketing Previous Stint : Kotak Investment Banking , P. Raj Previous Stint : Sv
Slide 30: Key Business Strategies
ea KEY BUSINESS STRATEGIES |
Slide 31: Key Business Strategies
Key Business Strategies 1. Enhance Market Leading Position in SCM 3. Expand Land Reserves in SCM and Other MMR 5. Continue to focus on redevelopment projects Sub-markets through asset light model Upcoming projects to consolidate our positioning in SCM and expand in to Bandra sub-market o Follow flex
Slide 32: Historical Financials
HISTORICAL FINANCIALS \ VS CO". ececqqnneneensc es i I eS
Slide 33: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Rs Crs. Particulars FY24 FY23 FY22 FY21 Revenue from operations 412.2 305.7 272.7 240 Other income 3.5 2.1 1.2 4 Total income 415.7 307.9 273.9 244 Expenses Operating and project expenses 222.0 166 180.7 164.2 Changes in inventories of construction work in progre
Slide 34: Consolidated Balance Sheet
Consolidated Balance Sheet Rs Crs. Particulars Mar-24 Mar-23 Mar-22 Mar-21 Particulars Mar-24 Mar-23 Mar-22 Mar-21 ASSETS EQUITY AND LIABILITIES Equity Non-current assets a) Equity share capital 21.4 15.9 15.9 6.4 a) Property, plant and equipment 22.5 3.4 3.8 4.9 b) Other equity - Other reserves 511
Slide 35: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Rs Crs. Particulars FY24 FY23 FY22 FY21 CASH FLOW FROM OPERATING ACTIVITIES Profit before taxes 93.9 43.2 36.2 9.0 Adjustments for Interest expenses/income, depreciation 142.3 106.7 93.8 80.3 Operating profit / (loss) before working capital changes 236.1 149.9 130.0
Slide 36: Annexures
ANNEXURES
Slide 37: Ongoing Residential Projects
Ongoing Residential Projects The Palette Ocean Star-I Vitalis Emmanuel Suraj Eterna • This project is in Luxury • This project is in the Value • This project is in the Luxury • This project is in the Value • This project is in the Value Segment and comprises of 2 Luxury Segment. It is a 20- Segment
Slide 38: Ongoing Residential Projects
Ongoing Residential Projects Nirvana Louisandra Ave Maria Park View Suraj Lumina • A value luxury/luxury • A Value luxury standalone • A 24-storey value luxury • A value luxury project with • The project comprises of both project with Top-of-the-line tower with compact units of residential tower in
Slide 39: Summary Of Ongoing Projects
Summary Of Ongoing Projects Particulars Remarks Particulars Remarks Area Sold (Lakh Sq Ft) 4.89 Total Unsold Area (Lakh Sq Ft) 1.21 Average Realisation 38,641 Achieved (Rs per sq ft) Average Estimated Realisation Of Unsold Area (Rs Per Sq Ft) 52,243 Collections Received (Rs 1,171.20 Cr) Balance Rece
Slide 40: Completion Targets For Ongoing Projects
Completion Targets For Ongoing Projects GDV of Rs 631 cr from unsold area of ongoing projects Eterna Park View Balance receivables of Rs 1,350 cr to flow from FY25-FY29E from area sold and balance unsold area FY29 FY26 Vitalis Ocean Star Suraj Emmanuel FY27 Suraj Lumina Ave Maria Louisandra Nirvana
Slide 41: Ongoing Projects
Ongoing Projects Completion Project Sale Carpet Sales Avg Collections Sr. Date (As Developable Area Sold Unsold Area Project Name Location Type Status Area (lakhs Sq Achieved (Rs Realisation Received (Rs No. Filed with Area (lakhs Sq (lakhs Sq ft) (Lakhs Sq ft) ft) cr) (Rs cr) cr) RERA) ft) 1 Louisa
Slide 42: Strong Project Pipeline and Cash Flow Trends
Strong Project Pipeline and Cash Flow Trends Sr. No. Project Name Location Type Segment Estimated Carpet Area for sale* (lakh sq.ft) 1 Kowliwadi & Kripasiddhi Building Prabhadevi Residential Value Luxury 0.24 2 Madonna Wing B Dadar (W) Residential Value Luxury 0.14 3 Gudekar House, Irani Building an
Slide 43: Land Reserves
Land Reserves Plot Area Name of Company’s /Entity’s Leased/ company/entity that is Sr. No. Location effective stake in the Owned/Developmen the developer of the project (%) t Rights project Square Meters 1 C.T.S.No.918 Mount Mary, Hill Road, Bandra (W) Accord Estates Pvt. Ltd. 100 Leasehold Rights 1
Slide 44: Completed Projects
Completed Projects Company's / respective Occupation certificate for all Name of company/entity that is entity's Developed Area Type and Date of Occupation floors Sr. No Project Name Location the developer of the project stake in configuration certificate project (square (%) (square feet) Yes/ No me
Slide 45: Completed Projects
Completed Projects Name of Company's / Occupation certificate for all company/entity that is respective entity's Developed Area Date of Occupation floors Sr. No Project Name Location Type and configuration the developer of the stake in project certificate project (square (%) (square feet) Yes/ No me
Slide 46: Completed Projects
Completed Projects Company's / Name of company/entity Occupation certificate for all respective entity's Developed Area that is the developer of Date of Occupation floors Sr. No Project Name Location Type and configuration stake in project the project certificate (square (%) (square feet) Yes/ No me
Slide 47: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Suraj Estate Developers Limited Strategic Growth Advisors Pvt. Ltd. CIN - L15142DL1974PLC007349 CIN - U74140MH2010PTC204285 Mr Shivil Kapoor Mr. Rahul Agarwal/Ms. Brinkle Shah Jariwala Company Secretary & Compliance Offi