Man Infraconstruction Limited · NSE:MANINFRA
Man Infraconstruction — Q2 FY23 Earnings Presentation
54 slides from Man Infraconstruction's earnings presentation, November 2022
Slide 1: Investor Presentation – Q2 FY23
MAN INFRACONSTRUCTION LIMITED INVESTOR PRESENTATION – Q2 FY23 November 2022
Slide 2: Safe Harbor
Safe Harbor • This presentation has been prepared by and is the sole responsibility of Man Infraconstruction 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 invita
Slide 3: Index
INDEX 1 Group Introduction 4 2 Our Business 18 3 Performance Update 22 4 Way Forward 41 5 Company Financials 43 6 Annexure 50 3
Slide 4: Group Introduction
Group Introduction 4
Slide 5: Group Milestones
Group Milestones 50+ 50Mn.+ Sq. Ft. of real estate and construction delivered Years of experience in 25 mn + Sq. Ft. 25 mn + Sq. Ft. construction across of residential & of ports, infra. & industrial the Country commercial development development 10 ~2,000 700+ Years of experience in Happy Families
Slide 6: EPC: Marquee Clientele with excellent client relationships
EPC: Marquee Clientele with excellent client relationships 6
Slide 7: Strengthening Real Estate Presence
Strengthening Real Estate Presence Mira Road Completed Projects On-going Residential Projects • Aaradhya Tower • Aaradhya Evoq • Aaradhya Saphalya • Atmoshphere O2 Mulund • Aaradhya Nalanda • Insignia • Aaradhya Residency • Aaradhya One Earth Juhu • Aaradhya Signature • Aaradhya Highpark - Ph1* Vile
Slide 8: Strong Financial Profile
Strong Financial Profile Proven financial track record with H1FY23 Consolidated Financial Performance strong profitability Total Income EBITDA Net Profit Virtually debt free at holding company and Rs. 774 Cr Rs. 161 Cr Rs. 92 Cr negative Net Debt at consolidated levels EBITDA Margin PAT Margin 21.3%
Slide 9: Group Introduction
Group Introduction A successful 3rd generation family owned business driven by professional management Promoter’s Journey Co-founded by Mr. Kishore Shah in 1964 as an industrial contracting company Mr. Parag Shah joined in 1991 with professional expertise & expanded infrastructure business o Pio
Slide 10: Vision, Mission, Group Values
VISION To be a leading integrated Real Estate Development company with strong in-house execution expertise and capabilities with attention to detail and utmost customer satisfaction and continue to grow in infrastructure space thereby enhancing shareholder's value MISSION To strengthen our position
Slide 11: Group Beginning
Group Beginning The journey of MICL Group dates back to 1964 as a partnership firm Started by Mr. Kishore Shah, a Civil Engineer by profession and the 1st generation entrepreneur of the Group Predominantly engaged in industrial and civil contracting works Undertook & completed multiple projects duri
Slide 12: Group Guided by …
Group Guided by … 30+ years of solid experience in the construction industry Known for Quality, Timely execution & Team work, has led repeat orders from marquee clients Achieved many firsts in infra space and pioneered in building ports ‒ Constructed India’s 1st private port at Nhava Sheva, JNPT ‒ O
Slide 13: Group led by …
Group led by … Joined business in 2013 with a vision to diversify & grow in the real estate space Successful Diversification - Real Estate vertical constitute >60% of revenue as on date Strengthened real estate portfolio – 3.0 mn. sq. ft.^ of ongoing/upcoming projects Built reputed brand – ‘Aaradhya
Slide 14: Experienced Management Team
Experienced Management Team Associated with the Company for more than 25 years Joined alongside Mr. Parag Shah, he has been a pioneer in achieving the group milestones with his exceptional technical expertise, engineering background & executional capabilities His leadership skills have enabled the c
Slide 15: Experienced Management Team
Experienced Management Team A qualified Chartered Accountant, he has over 35 years of experience both in India and abroad Specialized in finance, accounts, systems and commercial aspects of the business He oversees all finance, accounting, taxation and auditing work of the Company Responsible for ma
Slide 16: Professional & Independent Board
Professional & Independent Board MR. BERJIS DESAI MR. KAMLESH VIKAMSEY MR. DHARMESH SHAH MS. KAVITA UPADHYAY Chairman and Independent Director Independent Director Independent Director Non-Executive Director A Master of Law from the University of Former President of the Institute of Member of the In
Slide 17: Awards – Exemplifying Companies Performance
Awards – Exemplifying Companies Performance 10 Prestigious Awards India’s Top Maharashtra’s Iconic Young Best Brands Most Promising Challenger Pillar of Strength Achiever Delivery 2022 2022 2021 2021 2019 20th Construction World Maharashtra Bal Stambh The Times of India The Economic Times Realty LIO
Slide 18: Our Business
Our Business 18
Slide 19: Diversified Business Verticals
Diversified Business Verticals Real Estate EPC Business Rs. 5,400+ crore of cumulative sales in last 10 years Rich experience in civil construction of port infrastructure, Residential, Commercial, Industrial & Institutional Buildings Delivered 10 projects, all before time Commitment to quality and t
Slide 20: Strengths of Real Estate Business
Strengths of Real Estate Business Proven track record of quality & timely delivery; The company has invested ~Rs. 712^ cr. About 3.0 million sq. ft. (Carpet area) 10 projects (residential + commercial) delivered - in own Real Estate Development Projects of ongoing and upcoming Residential all before
Slide 21: Strengths of EPC Business
Strengths of EPC Business Commitment to quality & timely delivery 1 resulting in repeat business from clients Efficient project monitoring and 2 cost control Experience in constructing complex 3 infra projects, high-rise buildings, townships & mass housing developments Owned Plant & equipment and li
Slide 22: Performance Update
Performance Update 22
Slide 23: Business Highlights H1FY23
Business Highlights H1FY23 • Sold 2.49 mn sq. ft. of carpet area with a cumulative sales value of ~ Rs. 5,400 cr as on Sep-22 • Sales of 1.58 lakh sq ft of carpet area in H1FY23 with a sales value of Rs. 424 crore o Project Completion: Aaradhya Eastwind project - OC received | Before time completion
Slide 24: Q2 FY23 Consolidated Financial Performance
Q2 FY23 Consolidated Financial Performance Real Estate Business EPC Business Revenue from Operations Q2 FY22 Rs. 247 crores +128% +8% Rs. 401 crores 256 135 145 112 Up by 62% YoY Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 Profit After Tax^ Q2 FY22 EBITDA Rs. 78 crores Rs. 111 crores* Rs. 94 crores Rs.
Slide 25: H1 FY23 Consolidated Financial Performance
H1 FY23 Consolidated Financial Performance Real Estate Business EPC Business Revenue from Operations H1 FY22 Rs. 401 crores +126% +45% Rs. 753 crores 482 271 188 213 Up by 88% YoY H1 FY22 H1 FY23 H1 FY22 H1 FY23 H1 FY22 Profit After Tax^ H1 FY22 EBITDA Rs. 147 crores Rs. 144 crores* Rs. 161 crores R
Slide 26: Real Estate Business
Real Estate Business 26
Slide 27: Real Estate – Ongoing Projects
Real Estate – Ongoing Projects Name of RERA Carpet Area sold as on MICL's Type Estimated Date Units Sold as Sr. No. Project Name developing Location area 30.9.2022 Total Units Stake of Completion on 30.9.2022 entity (sq ft.) (sq ft.) Near Aaradhya High Man Vastucon 1 99.99% 2 Residential towers Dahi
Slide 28: Real Estate – Upcoming Projects
Real Estate – Upcoming Projects Expected Name of developing Type ~ Carpet area Sr. No. Project Name MICL's Stake Location Start Date / Total Units entity (sq ft.) Date of Completion Aaradhya High Park Near Dahisar, Nov-22 / 1 Man Vastucon LLP 99.99% 4 Residential Towers 5,31,079 1,001 - Phase 2 Than
Slide 29: Real Estate – Completed Projects
Real Estate – Completed Projects Total Carpet Area Carpet Area Sold Sr. No. Project Type Total Units No. of Units Sold Completion Date (sq.ft.) (sq.ft.) 1 Aaradhya Tower Residential 48 48 46,994 46,994 2 Aaradhya Saphalya Residential 5 5 4,244 4,244 3 Aaradhya Nalanda Residential 10 10 8,405 8,405 4
Slide 30: Real Estate – Completed Projects
Real Estate – Completed Projects 30
Slide 31: Real Estate – Ongoing Projects
Real Estate – Ongoing Projects Artist's Impression Artist's Impression AMENITIES Swimming Pool Theatre The Gymnasium Play Court - Tennis Kids Play Zone 31
Slide 32: Real Estate – Ongoing Projects
Real Estate – Ongoing Projects Artist's Impression AMENITIES Artist’sImpression Mini Multipurpose Court Kids Rock Climbing Area Entrance & Walkway Zen Garden 32
Slide 33: Real Estate – Ongoing Projects
Real Estate – Ongoing Projects Artist's Impression AMENITIES Artist’s Impression The Sports Lounge Snooker Lounge Gymnasium Business Chamber 33
Slide 34: Real Estate – Ongoing Projects
Real Estate – Ongoing Projects Artist's Impression AMENITIES Artist’s Impression Luxurious Swimming Pool Kids’ Play Area Mini - Theatre Gymnasium 34 Artist's Impression
Slide 35: Real Estate – Ongoing Projects
Real Estate – Ongoing Projects Artist's Impression AMENITIES Artist’sImpression Reflection Pool Elegant Deck Seating Peaceful Zen Garden Silver Screen Theatre 35
Slide 36: EPC Business
EPC Business 36
Slide 37: EPC – Ongoing Projects
EPC – Ongoing Projects 1 2 3 Infrastructure Works Residential Works Commercial & Institutional Works ~1.29 Million Of Construction Work ~2.51 Million Of Construction Work ~0.31 Million Of Construction Work • Govt. Residential: PCMC - Charholi & Ravet • Atmosphere Phase II* • Gateway • Ports – BMCT –
Slide 38: EPC – Port Infrastructure
EPC – Port Infrastructure Constructed the first Private Port of India Bharat Mumbai Container Terminals Mundra International Container Chennai Container Terminal Pvt Ltd (BMCT) Terminal (MICT) (CCT) 90 Hectares 23 Hectares 15 Hectares Nhava Sheva International Container Terminal Gateway Terminals In
Slide 39: Residential Buildings & Townships
Residential Buildings & Townships Kohinoor Residency PCMC - EWS CLIENT : Kohinoor Planet Construction Pvt. CLIENT : Pimpri Chinchwad Ltd. Municipal Corporation (PCMC) AREA: 0.30 Million Sq. Ft. AREA: 2.46 Million Sq. Ft. Blue Ridge Orchid Woods CLIENT : Flagship Infrastructure Pvt Ltd. AREA: 1.68 Mi
Slide 40: Commercial Buildings / Institutions / IT / Hospitals
Commercial Buildings / Institutions / IT / Hospitals Kohinoor Commercial Complex Godfrey Phillips Factory Shed CLIENT : Kohinoor Planet Construction Pvt. CLIENT : Godfrey Phillips India Ltd. Ltd. AREA: 0.10 Million Sq. Ft. AREA: 0.36 Million Sq. Ft. Sai Complex Gigaplex IT Park CLIENT : B Raheja Bui
Slide 41: Way Forward
Way Forward 41
Slide 42: Drivers for Next Phase of Growth
Drivers for Next Phase of Growth Expansion Strategy Global (USA) Expansion • Real Estate - Focus to grow in MMR region through Asset Light model – JV / JDA / DM • Expand footprint in demand generating market - - Well-diversified portfolio across customers, Miami, Florida, USA category and micro mark
Slide 43: Company Financials
Company Financials 43
Slide 44: Q2FY23 Consolidated Financial Highlights
Q2FY23 Consolidated Financial Highlights Particulars (Rs. Crs.) Q2 FY23 Q2 FY22 Y-o-Y Q1 FY23 Q-o-Q FY22 Total Revenue 401.3 247.3 62.2% 352.0 14.0% 961.5 Total Expense 307.3 169.6 285.3 714.0 EBITDA 94.0 77.7 21.0% 66.7 40.9% 247.5 EBITDA Margin (%) 23.4% 31.4% 19.0% 25.7% Other Income 12.7 175.6 8
Slide 45: H1FY23 Consolidated Financial Highlights
H1FY23 Consolidated Financial Highlights Particulars (Rs. Crs.) H1 FY23 H1 FY22 Y-o-Y FY22 Total Revenue 753.2 400.7 88.0% 961.5 Total Expense 592.5 253.2 714.0 EBITDA 160.7 147.5 9.0% 247.5 EBITDA Margin (%) 21.3% 36.8% 25.7% Other Income 20.7 182.2 201.2 Depreciation and Amortisation Expense 5.2 4
Slide 46: Q2FY23 Standalone Financial Highlights
Q2FY23 Standalone Financial Highlights Particulars (Rs. Crs.) Q2 FY23 Q2 FY22 Y-o-Y Q1 FY23 Q-o-Q FY22 Total Revenue 122.4 43.6 180.6% 97.5 25.5% 236.6 Total Expense 96.3 38.1 62.4 175.5 EBITDA 26.1 5.5 374.4% 35.1 -25.6% 61.1 EBITDA Margin (%) 21.4% 12.6% 36.0% 25.8% Other Income 39.8 29.6 11.8 75.
Slide 47: H1FY23 Standalone Financial Highlights
H1FY23 Standalone Financial Highlights Particulars (Rs. Crs.) H1 FY23 H1 FY22 Y-o-Y FY22 Total Revenue 220.0 95.2 131.0% 236.6 Total Expense 158.7 71.1 175.5 EBITDA 61.3 24.1 154.9% 61.1 EBITDA Margin (%) 27.9% 25.3% 25.8% Other Income 51.6 47.0 75.3 Depreciation and Amortisation Expense 2.9 2.2 4.8
Slide 48: Historical Financial Highlights - Consolidated
Historical Financial Highlights - Consolidated Profit & Loss Statement (Rs. Crs.) Sep-22 Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Revenue from Operations 753.2 961.5 427.2 267.0 371.4 651.6 Total Expense 592.5 714.0 330.6 269.7 271.6 452.2 EBITDA 160.7 247.5 96.6 -2.7 99.8 199.4 EBITDA % 21.3% 25.74% 22.6
Slide 49: Historical Financial Highlights - Standalone
Historical Financial Highlights - Standalone Profit & Loss Statement (Rs. Crs.) Sep-22 Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Revenue from Operations 220.0 236.6 119.6 107.0 166.5 192.9 Total Expense 158.7 175.5 115.9 108.8 125.7 175.2 EBITDA 61.3 61.1 3.7 -1.8 40.8 17.7 EBITDA % 27.9% 25.8% 3.1% - 24.5
Slide 50: Annexure
Annexure Favorable Market Conditions 50
Slide 51: Structural Reforms shaping India’s Real Estate sector
Structural Reforms shaping India’s Real Estate sector Regulatory Changes Disruptive Changes • RERA • NBFC Crisis • GST • Covid-19 • New DCR Rules in Mumbai Consolidation among organized developers Developers like MICL with Higher Liquidity, Strong Balance Sheet and Better Governance Practices are th
Slide 52: Real Estate Market: Poised for multi-year growth cycle
Real Estate Market: Poised for mutli-year growth cycle Indian Real Estate to become Housing to contribute ~7% of GDP Favourable Long-Term Factors $1 trillion market 12% 10% 1,000 Home loan rate still lower than peak levels 8% 650 6% 4% Significant improvement in affordability 180 2% 50 0% 2008 2020e
Slide 53: Robust Infrastructure Play
Robust Infrastructure Play Large scale development initiatives by Government Strong Macro-Drivers Sagarmala Project • Infrastructure led economic growth - Port Development and modernization program - Significant Investment outlay of Rs. 5.5 trillion by 2035 • Strong emphasis laid on ‘Make in India i
Slide 54: Thank You
MAN INFRACONSTRUCTION LIMITED T h a n k Yo u Investor Relations: Name: Mr. Yashesh Parekh Mob: 8108321555 Email: Yashesh@maninfra.com C o r p o r a t e O f f i c e : M a n I n f r a c ons t r uc t i o n L i m i t e d, 1 2 t h F l o or, K r u s h a l C o m m e r c i a l Complex, GM Road, Chembur(W),
Man Infraconstruction — Q2 FY23 Earnings Presentation on 6ix