Puravankara Limited · NSE:PURVA
Puravankara — Q3 FY25 Earnings Presentation
55 slides from Puravankara's earnings presentation, Feb 14, 2025
Slide 1: Exchange filing cover letter for analyst presentation
Date: 14.02.2025 To, The General Manager, The Manager, Listing Operations Listing Department, Department of Corporate Services National Stock Exchange of India Limited, BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, P. J. Towers, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (E), M
Slide 2: Investor Corporate Presentation Q3 FY25
INVESTOR CORPORATE PRESENTATION Q3 FY25 Investor Presentation Q3 FY25 1 Artist’s impression of Purva Park Hill, Bengaluru
Slide 3: Table of contents
Table of contents * Market insights 3–4 * Company overview 5– 6 * Operational overview – sales and collections 7– 10 * Diversified offerings across market segments 11 – 15 * Expanding with a pan-India presence 16– 19 * Efficient capital management 20 – 22 * Update on Financials 23– 26 * Update on Ca
Slide 4: Market Insights - Residential
Market Insights - Residential India's residential real estate market demonstrated positive activity throughout 2024, with a strong final quarter performance accentuated by seasonal festive demand. This surge propelled annual sales over 300,000 housing units for the second consecutive year. 3,02,900
Slide 5: Market Insights – Office
Market Insights – Office Strong momentum in leasing activity in the October-December quarter of 2024, with a record quarterly space take-up of 22.2 million sq. ft. This robust performance led to an all-time high absorption of 79 million sq. ft. in 2024. 79.0 mn sq.ft. 52.3 mn sq.ft. 22.2 mn sq.ft.
Slide 6: Company Overview
Company Overview Investor Presentation Q3 FY25 5
Slide 7: Diversified across brands, price segments and geographies
Diversified across brands, price segments and geographies Plotted Development • Company incorporated on June 3, 1986 , a strong legacy in real estate development. 85+ 23,400+ • Presence in luxury residences, Homes with total commercial, premium affordable Completed residential Developable Area of ho
Slide 8: Operational Overview: Sales and Collections
Operational Overview Sales and Collections Investor Presentation Q3 FY25 7
Slide 9: Key Business Highlights – 9M FY25
Key Business Highlights – 9M FY25 ~INR 3,724 Cr 4.24 msft ~INR 2,991 Cr ~INR 8,783 Sales Value* Sales volume** Customer Collections* Average Realization ₹ per sft 9M FY24 sales volume of 5 msft 19% YoY increase indicating 9M FY24 sales of INR 3,966 Cr 11% YoY increase improving operating efficiencie
Slide 10: Key Business Highlights – Q3FY25
Key Business Highlights – Q3FY25 ~INR 1,265 Cr 1.43 msft ~INR 993 Cr ~INR 8,847 Sales Value* Sales volume** Customer Collections* Average Realization ₹ per sft Q3FY24 sales of INR 1,241 Cr Q3FY24 sales volume of INR 1.63 msft 6% YoY increase 16% YoY increase ~INR 334 Cr ~INR 94 Cr loss 10% Total Rev
Slide 11: Last 3 years performance
Last 3 years performance Sale value (in INR cr) Gross collection (in INR Cr) Operating surplus (in INR Cr) 7,000 4000 3609 1,400 1,298 5,914 6,000 3500 1,200 3000 5,000 1,000 884 2500 2258 4,000 800 3,107 2000 3,000 2,407 1441 600 528 1500 2,000 400 1000 1,000 500 200 - 0 - FY22 FY23 FY24 FY22 FY23
Slide 12: Diversified Offerings Across Market Segments
Diversified Offerings Across Market Segments Investor Presentation Q3 FY25 11
Slide 13: Sales 9M FY25 Vs 9M FY24
Sales 9M FY25 Vs 9M FY24 Based on Bookings Period Ended Sale Realization Area Sold Units Sold Sale Value Dec-24 Dec-23 % Dec-24 Dec-23 % Dec-24 Dec-23 % Dec-24 Dec-23 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 1.38 2.09 -34% 894 1311 -32% 1,651 2,114 -22% 11,966 10,113 18%
Slide 14: Sales Q3FY25 Vs Q3FY24
Sales Q3FY25 Vs Q3FY24 Based on Bookings Quarter Ended Area Sold Units Sold Sale Value Sale Realization Dec-24 Dec-23 % Dec-24 Dec-23 % Dec-24 Dec-23 % Dec-24 Dec-23 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 0.35 0.66 -47% 233 402 -42% 454 663 -32% 12,975 10,084 29% Provi
Slide 15: Sales area classification – unit value & regional contribution
Sales area classification – unit value & regional contribution 9MFY25 Unit Value wise contribution to sales value FY24 • Unit Value wise –82% of the Group’s sales are accounted Rs.0 -0.5 cr 7% by units, for which average > Rs.2 cr Rs.0 -0.5 cr > Rs.2 cr sales price per unit is less 18% 11% 21% than
Slide 16: Collections trend
Collections trend Collection trend (INR cr) 1,200 1,094 1,033 993 965 1,000 941 184 128 879 115 150 161 800 131 696 341 661 375 621 379 108 303 328 600 134 518 124 445 458 307 102 400 341 103 122 232 223 236 49 221 144 569 530 161 488 476 499 200 144 441 356 274 291 198 176 195 148 - Q3 FY22 Q4 FY22
Slide 17: Expanding with a Pan-India Presence
Expanding with a Pan-India Presence Artist’s impression of Purva Atmosphere Investor Presentation Q3 FY25 16
Slide 18: Diversified across markets, brands and stages of development
Diversified across markets, brands and stages of development Completed Developable Area as at 31 Dec 2024 in million sq. ft. Ongoing Land Assets Total Assets (A) (B) (A)+(B) South India Bengaluru 36.14 17.61 14.66 32.27 Chennai 6.54 6.13 0.00 6.13 Hyderabad 2.78 0.00 0.00 0.00 Kochi 2.74 3.12 2.88 6
Slide 19: Ongoing and new launches
Ongoing and new launches Non-Bengaluru projects now account for 47% of the share of ongoing Brand wise Ongoing and Planned projects; and 73% of Planned projects. Mumbai & Pune together constitute 50% of the Planned projects indicating our new journey in West India. 1% 0% Launch Pipeline 19% 16% 14%
Slide 20: Planned projects
Planned projects Sr. no Location/ Project Name City Development Model Developable Area PL Share in Saleable area Inventory that will Expected launch JD (msft) be opened at the date time of launch Puravankara ` 1 Bellandur Bengaluru Owned 0.47 100% 0.47 0.47 Q4FY25/Q1FY26 2 Puravankara- Winworth - 2
Slide 21: Efficient capital management
Efficient capital management Investor Presentation Q3 FY25 20
Slide 22: Debt movement
Debt movement Debt/ sft of under construction area • While we invested over INR 1,200 crore in 9M Dec-24 Sep-24 Jun-24 Mar-24 Mar-23 Mar-22 FY25, our debt/sft for residential and land loans Net Debt 2824 2430 2237 2151 2208 1846 has decreased by 27% from INR 1,248 in Ongoing Projects (msft) 26 26 25
Slide 23: Debt composition and repayment schedule
Debt composition and repayment schedule Debt Composition Repayment Schedule as at 31 Dec 2024 INR Cr As at 30 Sep 2024 As at 31 Dec 2024 Increase/(decrease) More than 3 Residential 2,190 2,192 2 years 469 Land 878 889 11 13% Next 1 year Capex towards Commercial development 301 479 178 repayment 1,07
Slide 24: Update on Financials
Update on Financials Investor Presentation Q3 FY25 23
Slide 25: Consolidated statement of profit & loss for nine months ended December 31, 2024
Consolidated statement of profit & loss for nine months ended December 31, 2024 All numbers in INR Cr Particulars 9MFY25 9MFY24 Income from operations • Our Total Income for 9M FY25 increased by 16% y-o-y Revenue from projects 1,472.05 1,265.29 Other Income 57.39 47.97 • Total comprehensive loss for
Slide 26: Consolidated statement of profit & loss for the quarter ended December 31, 2024
Consolidated statement of profit & loss for the quarter ended December 31, 2024 All numbers in INR Cr Particulars Q3FY25 Q2FY25 Q3FY24 Income Revenue from operations 318.18 495.54 573.70 Other income 16.03 24.14 22.18 Total income 334.20 519.68 595.88 Expenses Sub-contractor cost 337.32 251.21 229.1
Slide 27: Profits - Percentage of Completion Method (POCM)
Profits - Percentage of Completion Method (POCM) We recognize revenue in accordance with Ind AS 115, which permits revenue recognition only upon the handover of units to customers. This contrasts with the percentage of completion method (POCM), which more appropriately reflects the business performa
Slide 28: Update on Cash flows
Update on Cash flows Investor Presentation Q3 FY25 27
Slide 29: Direct cashflows
Direct cashflows All numbers in INR Cr Cash Flow Statement Q1 FY 25 Q2 FY 25 Q3 FY 25 9M FY 25 9M FY 24 9M YOY A Operating Inflows 966 1,182 1,062 3209 2,826 14% Collection from operations 966 1,182 1,062 3209 2,826 14% B Operating Outflows (685) (874) (898) (2457) (1,861) 32% The Group has invested
Slide 30: Cash flow potential
Cash flow potential Puravankara Provident Purva Land Total Balance collections from sold units 1 (A) 1,873 2,142 573 4,588 • Cashflow Visibility of Rs.6730 Crores in next Value of Inventory open for sale 2 (B) 2,903 2,276 971 6,150 • Cashflow Visibility of 3-4 years Rs.6,608 Crores in next 3- Balanc
Slide 31: Cashflow and debt management
Cashflow and debt management Amount Particulars (in Rs crore) Group A - Ongoing (including not launched for sale) projects Balance customer collection A 15,674 Balance cost to go B 9,066 • Net debt stands at INR 2,824 crore, well- Surplus from ongoing (including not launched for sale) projects C= A-
Slide 32: Way forward
Way forward • Continue to focus on land acquisition to replenish the land bank and speedy launches within 12 to 15 months of acquisition. • Continue to focus on delivery of projects on time. • Capital raise plan – o Qualified Institutional Plan (QIP) o Alternate Investment Fund (AIF) o Platform leve
Slide 33: Project Status
Project Status Provident Sunworth Investor Presentation Q3 FY25 32
Slide 34: Puravankara expands its redevelopment portfolio in Mumbai
Puravankara expands its redevelopment portfolio in Mumbai • Saleable Area (our share) - 0.67 msft (Unit 4 & 5) • Saleable Area (Our share) – 0.35 msft • Saleable Area – 0.08 msft • Location – Apnaghar, Lokhandwala, Andheri West • Location – Deccan, Pali Hills, Mumbai • Location – Miami, Breach Candy
Slide 35: Update on possession and occupancy certificate
Update on possession and occupancy certificate We have given total possession of 1,839 units in 9M FY25 across the Puravankara Group. We have given 1839 units in 9M FY25, up by Projects Q3 FY 25 Q2 FY 25 Q1 FY 25 9M FY25 9M FY24 FY 24 FY 23 FY 22 31% Y-o-Y Total possession in units 319 591 929 1,839
Slide 36: Project Status – Completed Projects with inventory as on Dec 31, 2024
Project Status – Completed Projects with inventory as on Dec 31, 2024 Puravankara's Area Sold JD / JV Share S.No. Project Location Developable Area Total Flats Share - Launched Cumulative Inventory for Developer Developable Area Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % COMPLETED Puravank
Slide 37: Project Status – Under Construction as on Dec 31, 2024
Project Status – Under Construction as on Dec 31, 2024 Area Sold Developable JD / JV Share for Puravankara's Share S.No. Project Location Total Flats Launched Cumulative Inventory Area Developer - Developable Area Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION Puravankara 1
Slide 38: Project Status – Not yet open for Sale as on Dec 31, 2024
Project Status – Not yet open for Sale as on Dec 31, 2024 Puravankara's Developable JD / JV Share for S.No. Project Location Total Flats Share - Sold Cumulative Unsold Inventory Area Developer Developable Area Area Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % PHASES NOT OPEN FOR SAL
Slide 39: Ongoing (open for sale) residential projects- city wise
Ongoing (open for sale) residential projects- city wise City Total Projects Area Puravankara’s share Sold Area Inventory Mnsft Mumbai 2 1.43 1.04 0.57 0.47 Bengaluru 16 11.81 10.24 7.48 2.76 Chennai 3 5.53 5.53 1.56 3.97 Kochi 2 1.97 1.25 1.19 0.06 Pune 4 1.19 1.05 0.57 0.47 Goa 1 1.63 1.63 1.18 0.4
Slide 40: Growing sustainably with good governance practices
Growing sustainably with good governance practices Investor Presentation Q3 FY25 39
Slide 41: Sustainability
Sustainability • Received IGBC Gold pre-certification for Purva Zentech and Meraki • Purva complies to ASHRAE standards for all Commercial projects • Targeting USGBC Gold for a commercial project - Purva Aerocity • Puravankara has committed to have all its new projects from FY’24 to be certified as
Slide 42: Governance Structure to drive long term growth
Governance Structure to drive long term growth Executive Team Ravi Puravankara Ashish Puravankara Chairman Managing Director Nani R. Choksey Abhishek Kapoor Deepak Rastogi Vice Chairman Executive Director & CEO Chief Financial Officer Investor Presentation Q3 FY25 41
Slide 43: Governance Structure to drive long term growth Contd.
Governance Structure to drive long term growth Contd. Non-Executive Directors Anup Shah Sanmukh Shailaja Jha K G Krishnamurthy Non- Executive Independent Non- Executive Independent Non- Executive Independent Director Director Director Investor Presentation Q3 FY25 42
Slide 44: Appendix 1: Other Corporate Information
Appendix 1: Other Corporate Information Investor Presentation Q3 FY25 43
Slide 45: Awards and Accolades
Awards and Accolades CIDC Vishwakarma Award 2024 Construction Week Awards 2023 Construction Week: Real Estate ET Achievers 2024: Super luxury residential Creating social development and impact Lifetime achievement award for Company of the Year (People’s Choice) project of the year 2024 | Purva Merak
Slide 46: Shareholding Pattern as of December 31, 2024
Shareholding Pattern as of December 31, 2024 Others, 7.38% Insurance Companies, 0.37% FPIs Gothic Corporation FII & FPI, Atyant Capital 17.25% Duke Endowment Insurance and Bodies Corporate Promoter, Life Insurance Corporation 75.00% Notes 1. Promoter Shares are unencumbered Investor Presentation Q3
Slide 47: Share Price Movement
Share Price Movement 250% 200% 150% 100% 50% 0% -50% -100% Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Purva Sensex BSE Realty 01-Jan-24 31-Dec-24 % Change Notes: Graph rebased to 100 PURVA 189.75 379.05 102.32% SENSEX 72,218.39 78,139.01 8.12% Investor Presen
Slide 48: Key Strengths and building a strong strategy
Key Strengths and building a strong strategy Brand Positioning , Quality , Pricing & Geographical expansion & Business Strategic bandwidth & Rich Talent Product Diversification strategy Development Strong & Experienced Leadership Offering a range of housing options to Our philosophy, "The You Philos
Slide 49: Appendix 1: Recently completed projects
Appendix 1: Recently completed projects PURVA SOMERSET PURVA SILVERSANDS Chennai Pune Investor Presentation Q3 FY25 48
Slide 50: Appendix 1: Recently completed projects
Appendix 1: Recently completed projects PROVIDENT NEORA EQUINOX Bengaluru Bengaluru Investor Presentation Q3 FY25 49
Slide 51: Appendix 2: Ongoing projects
Appendix 2: Ongoing projects PURVA CELESTIAL (ZENIUM 2) PURVA PARKHILL Bengaluru Bengaluru Investor Presentation Q3 FY25 50
Slide 52: Appendix 2: Ongoing projects
Appendix 2: Ongoing projects PROVIDENT ADORA DE GOA PROVIDENT ECOPOLITAN Goa Bengaluru Investor Presentation Q3 FY25 51
Slide 53: Appendix 3: Ongoing commercial projects
Appendix 3 : Ongoing commercial projects PURVA AEROCITY PURVA ZENTECH Bengaluru Bengaluru Investor Presentation Q3 FY25 52
Slide 54: Disclaimer
Disclaimer This presentation has been prepared by Puravankara Limited (“Company”) solely for providing information about the Company and its subsidiaries and joint ventures. The forward-looking statements appear in a number of places throughout this presentation and include statements regarding the
Slide 55: Thank You
THANK YOU Puravankara Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Corporate Identification Number : L45200KA1986PLC051571 Website:- https://www.puravankara.com/ Investor Relations Contact: Mr. Neeraj Gautam, Deputy CFO- Finance Email – neeraj.gautam@puravankara.com; Tel