Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q3 FY23 Earnings Presentation
49 slides from Prestige Estates Projects's earnings presentation, 2023
Slide 1: Q3 FY23 Investor Presentation
PRESTIGE ESTATES PROJECTS LTD Q3 FY23 INVESTOR PRESENTATION www.prestigeconstructions.com
Slide 2: Agenda
2 AGENDA Q3 FY23 01 02 03 04 KEY HIGHLIGHTS SEGMENT ANALYSIS MUMBAI PROJECTS MANAGEMENT • Our Presence • Residential • Residential • Board of Directors • Scale of Operations • Commercial • Commercial • Leadership Team • Key Highlights 9M | Q3 • Retail • Operational Highlights • Hospitality • Financi
Slide 3: Presence in 12+ Cities and Expanding
PRESENCE IN 12+ CITIES AND EXPANDING 3 36 278 YEARS PROJECTS OF LEGACY DELIVERED (165 mn sft) NCR 55 43 Ahmedabad ONGOING UPCOMING PROJECTS PROJECTS (75 mn sft) (93 mn sft) Mumbai Hyderabad Pune DA1+ A+ Goa Bangalore Mysore STABLE Chennai CRISIL ICRA Calicut GRADING RATING 02 Kochi www.prestigeconst
Slide 4: Scale of Operations – As on Q3 FY23
SCALE OF OPERATIONS – AS ON Q3 FY23 4 COMPLETED PROJECTS RESIDENTIAL COMMERCIAL RETAIL HOSPITALITY TOTAL COMPLETED 138 113 mn sft 119 40 mn sft 12 9 mn sft 9 4 mn sft 278 165 mn sft ONGOING PROJECTS RESIDENTIAL COMMERCIAL RETAIL HOSPITALITY TOTAL ONGOING 35 44 mn sft 13 26 mn sft 2 2 mn sft 5 3 mn s
Slide 5: Key Highlights 9M & Q3 FY23
• Registered highest 9M sales of ₹90,421 mn (up by 27% yoy) Key • Registered highest 9M Collections of ₹70,422 mn (up by 41% yoy) • Sold 7200+ units overall in 9M FY23 Highlights • Mumbai region sales for 9M stood at ₹16,620 mn 9M & Q3 • Calicut registered sales of ₹2,025 mn in Q3 FY23 within few da
Slide 6: Operational Highlights
Prestige Jasdan Classic, Mumbai Shot At Location OPERATIONAL HIGHLIGHTS Q3 FY23 | 9M FY23 05 www.prestigeconstructions.com
Slide 7: Operational Highlights – Q3 FY23
Artist’s Impression OPERATIONAL HIGHLIGHTS – Q3 FY23 25,190 22,929 4.06 11.04 Sales Collections Launches Completions INR Mn INR Mn mn sft mn sft PG Share: 21,502 PG Share: 19,980 Resi/ Comm Sales: 2.49 Capex Projects: 1.57 2.91 9,371 4,148 1,432 Area Sold Average Average Units mn sft Realization Rea
Slide 8: Operational Highlights – 9M FY23
Artist’s Impression OPERATIONAL HIGHLIGHTS – 9M FY23 90,421 70,422 21.12 14.40 Sales Collections Launches Completions INR Mn INR Mn mn sft mn sft PG Share: 81,385 PG Share: 62,751 Resi/ Comm Sales: 11.19 Capex Projects: 9.93 11.09 8,553 4,134 7,205 Area Sold Average Average Units mn sft Realization
Slide 9: Geography Wise Sales – 9M / Q3 FY23
GEOGRAPHY WISE SALES – 9M / Q3 - FY23 100,000 90421 90,000 80,000 60,084 70,000 60,000 50,000 40,000 25,190 30,000 16,620 13,775 20,000 7,773 4,906 3,322 2,139 2,025 2,025 10,000 45 1,002 599 412 106 422 356 - Values in ₹ mn 084 www.prestigeconstructions.com
Slide 10: Launches – Q3 & 9M FY23
LAUNCHES – Q3 & 9M FY23 Residential/ Commerc ial Sales Capex P rojec ts Q3 TDA TDA P rojec t Launc hed Loc ation P rojec t Launc hed Loc ation Segment (Mnsf) (Mnsf) Prestige Ocean Pearl Calicut 1.50 Prestige 13o North Commercial Bangalore Commercial 0.14 Prestige Daffodils Mumbai 0.15 W Hotel - Pres
Slide 11: Completion – Q3 & 9M FY23
Completion – Q3 & 9M FY23 Residential/ Commerc ial Sales Capex P rojec ts Q3 TDA TDA P rojec t Completion Loc ation P rojec t Completion Loc ation Segment (Mnsf) (Mnsf) Prestige Jindal City Bangalore 6.12 Prestige Cyber Green Kochi Commercial 0.90 Prestige Willow Tree Bangalore 0.91 Tech Park IV Ban
Slide 12: Financial Highlights
The Prestige City, Mulund Shot At Location FINANCIAL HIGHLIGHTS Q3 FY23 | 9M FY23 11 www.prestigeconstructions.com
Slide 13: Financial Highlights – Q3 FY23
The Prestige City, Mulund Shot At Location FINANCIAL HIGHLIGHTS – Q3 FY23 23,475 6,047 1,620 25.76% 6.90% Revenue EBITDA PAT EBITDA PAT INR Mn INR Mn INR Mn % % 12 www.prestigeconstructions.com
Slide 14: Financial Highlights – 9M FY23
The Prestige City, Mulund Shot At Location FINANCIAL HIGHLIGHTS – 9M FY23 58,340 15,553 5,623 26.66% 9.64% Revenue EBITDA PAT EBITDA PAT INR Mn INR Mn INR Mn % % 13 www.prestigeconstructions.com
Slide 15: Segment Wise Results and Capital Employed
SEGMENT WISE RESULTS AND CAPITAL EMPLOYED (in Mn Others 9M 2022-23 Office Retail Hospitality Services Residential Total (Note 1) Revenue 1,492 418 4,715 5,386 41,758 3,063 56,832 EBITDA (excluding other income) 940 217 1,684 727 7,414 3,063 14,045 EBITDA % 63% 52% 36% 13% 18% 100% 25% Depreciation 4
Slide 16: Segment Wise Results and Capital Employed
SEGMENT WISE RESULTS AND CAPITAL EMPLOYED (in Mn) Others 9M 2022-23 Office Retail Hospitality Services Residential Total (Note 1) Capital Employed Equity A 38,680 8,728 20,439 872 26,368 - 95,087 Debt (including ongoing capex) B 13,352 5,439 9,479 - 34,916 - 63,186 Debt taken for ongoing capex proje
Slide 17: Debt Profile – Q3 FY23
DEBT PROFILE – Q3 FY23 0.42 DEBT EQUITY RATIO Project Debt - Residential 16% & Commercial for sales ₹41,699 mn Office Space 16% 52% NET DEBT Hospitality 9.73% 16% Lease Rental Discounting AVERAGE BORROWING COST 16 www.prestigeconstructions.com
Slide 18: Segment Analysis
Segment Analysis 17 www.prestigeconstructions.com
Slide 19: Residential Portfolio
RESIDENTIAL PORTFOLIO STOCK BREAKUP COMPLETED ongoing upcoming Category Ongoing-Premium & Luxury Projects Area Value(₹mn) 0.695 21,407 138 35 27 Ongoing-Mid Income Projects 5.426 62,271 113 mn sft 44 mn sft 73 mn sft Ongoing Commercial Projects 1.268 8,568 Completed Projects 0.458 4,235 Total 7.847
Slide 20: Ongoing Residential
Bengaluru 1 Prestige Elysian 1.11 31% 0.34 FY 24 Ongoing Residential Hyderabad 2 Prestige White Meadows 0.52 100% 0.52 FY 24 3 Prestige Fairfield 0.54 27% 0.15 FY 24 4 35 44 Prestige Finsbury Park- Regent 1.81 60% 1.09 FY 24 1 Prestige Tranquil 2.24 73% 1.64 FY 25 5 Prestige Finsbury Park- Hyde 2.77
Slide 21: Upcoming Residential
Bengaluru Upcoming Residential 1 Prestige Glenbrook 0.66 100% 0.66 FY 24 27 73 2 Prestige Maple Heights 0.28 65% 0.18 FY 24 Prestige Misty Waters- Phase Hyderabad Projects mn sft 3 III 0.20 32% 0.06 FY 24 4 Prestige Roshanara 0.21 100% 0.21 FY 24 1 Prestige Rock Cliff 0.71 55% 0.39 FY 24 5 The Prest
Slide 22: Commercial Portfolio
COMMERCIAL PORTFOLIO COMPLETED ONGOING UPCOMING TENANTS WorkForce 119 13 10 40 mn sft 26 mn sft 15 mn sft 400+ 450, 000 450, 000 24,761 EXIT RENTALS PROJECTED ANNUITY INCOME STEP UP (₹ mn) ₹1,685 mn PG Share 15,489 INCREMENTAL RENTALS FY23 ₹680 mn 8,926 7,019 5,846 ANNUITY INCOME FY28 2,429 ₹24,761
Slide 23: Commercial Capex & Balance to Spend
Commercial Capex & Balance to Spend BALANCE TO SPEND PARTICULARS Total COC Total COC Balance COC Balance COC (PG SHARE) (PG) 450, (PG) ONGOING COMMERICAL 000 ₹64,990 mn Ongoing Commercial Capex 85,240 76,000 71,600 64,990 UPCOMING COMMERICAL ₹63,310 mn Upcoming Commercial Capex 69,350 64,330 68,260
Slide 24: Ongoing Commercial
Bengaluru Ongoing Commercial 1 Prestige Tech Cloud 4.65 86% 4.00 FY 24 13 26 2 Prestige Tech Hub 1.23 60% 0.74 FY 26 3 Prestige Summit 0.19 50% 0.09 FY 23 Projects mn sft 4 Prestige Tech Pacific Park 1.65 63% 1.04 FY 24 5 Prestige Tech Park Iv Block 3 0.15 50% 0.07 FY 24 6 Prestige Lake Shore Drive
Slide 25: Upcoming Commercial
Upcoming Commercial 10 Projects 15 mn sft Bengaluru 1 Prestige Capital Square 0.17 65% 0.11 FY 27 2 Prestige Techzone 1.78 67% 1.19 FY 27 3 Prestige Tech park 5 0.13 100% 0.13 FY 27 4 Prestige Landmark 2.93 50% 1.46 FY 27 5 Prestige Tech Habitat 0.92 74% 0.68 FY 27 Total 5.93 3.58 Mumbai 1 Prestige
Slide 26: Retail Portfolio
RETAIL PORTFOLIO COMPLETED ongoing upcoming 12 2 4 9 mn sft 2 mn sft 5 mn sft 5,357 PROJECTED ANNUITY INCOME STEP UP (₹ mn) 4,109 PG Share EXIT RENTALS ₹1,865mn 2,220 2,220 2,220 INCREMENTAL RENTALS FY23 ₹355 mn ANNUITY INCOME FY27 25 ₹5,357 mn FY23 FY24 FY25 FY26 FY27 www.prestigeconstructions.com
Slide 27: Retail Capex & Balance to Spend
Retail Capex & Balance to Spend BALANCE TO SPEND PARTICULARS Total COC Total COC Balance COC Balance COC (PG SHARE) (PG) 450, (PG) ONGOING RETAIL 000 ₹3,860 mn Ongoing Retail Capex 8,570 6,100 4,260 3,860 UPCOMING RETAIL ₹12,270 mn Upcoming Retail Capex 14,980 12,300 14,950 12,270 TOTAL ₹16,130mn To
Slide 28: Ongoing Retail / Upcoming Retail
Ongoing Retail 2 Projects 2.11 mn sft Kochi | Bengaluru 1 Forum Thomsun Kochi 1.02 50% 0.51 FY 23 Upcoming Retail 2 Forum 13° North Bengaluru 1.09 100% 1.09 FY 26 4 4.91 Total 2.11 1.60 Projects mn sft Bengaluru | Hyderabad | Chennai | Kochi 1 Forum One OMR Chennai 1.96 85% 1.66 FY 27 2 Forum Neighb
Slide 29: Hospitality Portfolio (2935 Keys)
HOSPITALITY PORTFOLIO (2935 KEYS) COMPLETED ongoing upcoming 9 5 2 1368 KEYS 1217 KEYS 350 KEYS 297 KEYS, BENGALURU 285 KEYS, BENGALURU 221 KEYS, NEW DELHI 558 KEYS, NEW DELHI 200 KEYS, MUMBAI (BKC) 102 KEYS | 32 KEYS, 150 KEYS, CHENNAI 128 KEYS, 360 KEYS, BENGALURU 79 KEYS, BENGALURU BENGALURU | KO
Slide 30: Hospitality Revenue Potential (2935 Keys)
HOSPITALITY REVENUE POTENTIAL (2935 KEYS) COMPLETED ongoing upcoming 9 5 2 1368 KEYS 1217 KEYS 350 KEYS UNDER OPERATING CONSTRUCTION UPCOMING TOTAL Total Keys 1,368 1,217 350 2,935 Keys (PG Share) 1,211 812 227 2,249 Total Revenue p.a. 7,681 7,522 2,409 17,612 Revenue p.a. (PG Share) 7,585 4,932 1,4
Slide 31: Hospitality Capex & Balance to Spend
Hospitality Capex & Balance to Spend BALANCE TO SPEND PARTICULARS Total COC Total COC Balance COC Balance (PG SHARE) (PG) 450, COC ONGOING HOSPITALITY (PG) 000 ₹9,880 mn Ongoing Hospitality Capex 22,370 13,460 16,200 9,880 UPCOMING HOSPITALITY ₹3,070 mn Upcoming Hospitality Capex 5,070 3,310 5,070 3
Slide 32: Operating Hotels Performance (1161 Keys)
OPERATING HOTELS PERFORMANCE (1161 KEYS) 9MFY23 - Data includes hotel performance 12,795 of JW Marriott, Conrad by Hilton, 11,319 Sheraton Grand, Oakwood and 10,202 Angsana - QoQ growth for both ARR and 7,677 7,131 RevPAR 6,631 - Robust demand expected from Hospitality sector, early signs visible -
Slide 33: Cashflows 9M & Q3 FY23
Cashflows 9M & Q3 FY23 (INR mn) Q3 FY23 9M FY 23 OPERATIONAL ACTIVITIES Inflow Residential Collection/ Commercial & Retail Rentals / Property Maintenance / Mall Operations/ Others 26,290 78,730 Outflow Construction Cost- Residential 9,580 31,240 LO Payments /Sales/ Marketing / Administrative Overhea
Slide 34: Property Management
PROPERTY MANAGEMENT 34 33 www.prestigeconstructions.com
Slide 35: Mumbai Presence
A The Prestige City, Mulund B Prestige Daffodils A C Jijamata Nagar D Prestige Jasdan Classic E Prestige Ocean Towers B G F Prestige Nautilus F G Prestige 101 (BKC) CH H The Prestige (Liberty Towers) D Residential E Commercial MUMBAI PRESENCE 35 34 www.prestigeconstructions.com
Slide 36: Residential - Mumbai Projects
RESIDENTIAL - MUMBAI PROJECTS PEPL Share of Sales Carpet Area Expected Total Sale value S.No. Project PEPL % Value Mn sf Selling Price In Mn In Mn Ongoing Residential 1 Prestige Jasdan Classic 0.33 45,100 14,660 100 14,660 The Prestige City Mulund 2 2.12 23,000 48,760 100 48,760 Bellanza + Siesta Up
Slide 37: Commercial - Mumbai Projects
COMMERCIAL - MUMBAI PROJECTS PEPL Share of PEPL Projected Rental Total Leasable Expected Total Sale value Projected S.No. Project PEPL % Sales Value PA (in case of leasing) Area Mn sf Selling Price In Mn Rent/Sf In Mn In Mn Ongoing Commercial The Prestige 1 2.74 35,000 95,781 50 47,890 300 4,926 (Li
Slide 38: Land Bank
LAND BANK Land Area Economic Prestige # Entity Name Location (Acres) Interest Share (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi, Bengaluru 143 100% 143 2 Eden Investments Goa 74 78% 58 3 Prestige Estates Projects Ltd Perumbakam, Chennai 20 66% 13 4 The QS Company Padil, Mangalore 17 100% 17 Pr
Slide 39: Management Team
PRESTIGE TECH PACIFIC Bengaluru MANAGEMENT TEAM • Board of Directors • Leadership Team 39 38 Artist’s Impression www.prestigeconstructions.com
Slide 40: Board of Directors
BOARD OF DIRECTORS Irfan Razack Rezwan Razack Noaman Razack Chairman and Managing Director Joint Managing Director Whole-time Director Uzma Irfan Dr. Pangal Ranganath Nayak Biji George Koshi Jagdeesh K. Reddy Noor Ahmed Jaffer Neelam Chhiber Director Independent Director Independent Director Indepen
Slide 41: Leadership Team
LEADERSHIP TEAM Venkat K. Narayana Nawabzada Omer Bin Jung Anjum Jung Zackria Hashim Mohmed Zaid Sadiq CEO- Prestige Group Executive Director- Hospitality Executive Director- Executive Director- Land Acquisition Executive Director- Liaison and Hospitality Interior Designs Faiz Rezwan Zayd Noaman Nay
Slide 42: Leadership Team
LEADERSHIP TEAM Swaroop Anish Suresh Singaravelu Jagdeep Singh Marwaha Lt Col. Milan Khurana (Retd.) Executive Director- Executive Director- Retail, CEO- Prestige Office Ventures Executive Director- HR, IT and Admin Business Development Hospitality and Business Expansion Manoj Krishna J.V Tariq Ahme
Slide 43: Thank You
PRESTIGE TRADE CENTER Aerocity, Delhi Artist’s Impression Thank You For any queries, please contact, E: investors@prestigeconstructions.com Registered Office-No. 19, Brunton Road, (Off M.G Road) Bangalore 560 025 Landmark - Trinity Metro Station T: +91 -80 –25001 248 F: + 91 –80 -25591945 Website: w
Slide 44: Disclaimer
DISCLAIMER This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which ar
Slide 45: Annexures
ANNEXURES www.prestigeconstructions.com
Slide 46: Exit Rentals – Commercial
EXIT RENTALS – COMMERCIAL Total Economic Rent P.A S.No. Project Name Leasable Area (Mnsqft) Interest (%) Prestige Share (Mnsqft) (Annualised) (Rs Mn) 1 Prestige Logistic Centre 0.39 100.00 0.39 84.83 2 Prestige Polygon 0.34 100.00 0.34 351.69 3 West Palm Developers Pvt Ltd 0.32 61.00 0.20 210.77 4 S
Slide 47: Exit Rentals - Retail
EXIT RENTALS - RETAIL Prestige Rent P.A Leasable Area Economic Share (Mn (Annualized) S.No. Project Name Entity Name (Mn Sft) Interest (%) Sft) (Rs Mn) 1 Forum Sujana Mall Hyderabad Prestige Hyderabad Retail Ventures Pvt. Ltd. 0.81 15.00 0.12 149 2 Forum Fiza Mall Prestige Mangalore Retail Ventures
Slide 48: Incremental Rentals – Retail
INCREMENTAL RENTALS – RETAIL Total Economic Rent P.A. S.No. Project Name Leasable Area Interest (%) Prestige Share (Rs Mn) 1 Forum Thomsun Kochi 0.56 50% 0.28 355 0.56 0.28 355 www.prestigeconstructions.com
Slide 49: Residential Projects Free Cashflows
RESIDENTIAL PROJECTS FREE CASHFLOWS Ongoing+ Completed Projects Upcoming Projects Area in Mn Value in ₹ Area in Mn Value in ₹ Particulars Sft Mn % Particulars Sft Mn Total Developable Area 82.53 Total Developable Area 72.51 Car Park Area 23.07 Car Park Area 17.77 Total Saleable Area 59.45 Total Sale
Prestige Estates Projects — Q3 FY23 Earnings Presentation on 6ix