Keystone Realtors Ltd. · NSE:RUSTOMJEE
Keystone Realtors — Q3 FY2023 Earnings Presentation
32 slides from Keystone Realtors's earnings presentation, Feb 7, 2023
Slide 1: Investor Presentation cover letter to stock exchanges
A KiYSTONE REALTORS BUILDING EXCELLENCE Date: February 7, 2023 The General Manager, The Vice President Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, "Exchange Planza", Dalal Street, Bandra Kurla Complex, Mumbai - 400 001 Band
Slide 2: Quarterly Update Q3 FY-23
~ KiYsToNE REALTORS BUILDING EXCELLENCE KEYSTONE REALTORS LIMITED Quarterly Update Q3 FY-23
Slide 3: Table of Contents
Table of Contents Particulars Slide Company overview 03 Performance highlights 11 Management structure 25 2 ll\ugtomtee®I ~~ BUILDING EXCELLENCE
Slide 4: 1. Company overview
1. Company overview 3 ll\ugtomtee®I ~~ BUILDING EXCELLENCE
Slide 5: A Snapshot
A Snapshot 20+ Million Sq. Ft. delivered Capabilities & Experience Prominent MMR Real Estate developer with 20+ Capability and experience in developing standalone Million Sq. Ft. delivered and a pipeline of 35+ buildings, gated communities and fully integrated Million Sq. Ft. of ongoing and forthcom
Slide 6: A Snapshot (continued)
A Snapshot (continued) End to End Project Management Capabilities Sustainable Development End-to-end project capabilities with in-house expertise across Business Development, Architecture, Approvals, Construction Management, Sales & Strong focus on sustainability in all our developments Marketing an
Slide 7: The Journey over Two Decades
The Journey over Two Decades Launched the township tower ‘Urbania’ in Thane First PE investment by Entered into a development Trinity Capital in KRL Launched the management agreement for redevelopment the project ‘Crown’ in Acquired land project ‘Seasons’ in Prabhadevi located at Bandra Launched the
Slide 8: Technology in Planning, Execution, Sales & Marketing
Technology in Planning, Execution, Sales & Marketing Project planning & Sales & Customer Recent Execution Experience Developments • Combined implementation of • Helps better understand • Automated and transparent ERP and BIM systems customer preferences and system built-into execution maximizes prod
Slide 9: Ongoing projects
Ongoing projects v,.,t Townships 1. Global City, Virar (W) 2. Urbania, Thane (W) Residential Projects 3. Crown, Prabhadevi 4. Seasons, Bandra (E) Kanchvali ,, ~, 5. Bella, Bhandup (W) i oregaon Mulund 6. Paramount, Khar (W) ' ;.~ 1;'<'• 7. Erika, Bandra (E) Bhandup ,s' 8. Parishram, Bandra (W) ~ ndh
Slide 10: Forthcoming projects
Forthcoming projects Townships 1. Global City, Virar (W) Commercial 15. Urbania Commercial ' Virar 2. Urbania, Thane (W) 16. OB12 + 13, Bandra (E) Oah1sar Residential Projects Plotted Development Bonvall 3. Garden Estate, Thane (W) 17. Khopoli Kand1vah 4. Charkop, Kandivali (W) 5. Ozone (Phase II),
Slide 11: Growth drivers
Growth drivers Leverage our leadership position in the premium category in micro markets that we operate in: • 39% Market share in Super Premium/ Premium category in Juhu in terms of absorption (FY22)* Continue to build an asset light business model: • Number of redevelopment projects added - 5 proj
Slide 12: 2. Performance Highlights
2. Performance Highlights 11 ll\ugtomtee®I ~~ BUILDING EXCELLENCE
Slide 13: Performance Snapshot (Q3 FY-23)
Performance Snapshot (Q3 FY-23) Area sold Pre-Sales Value Collections OCF 0.3 mn Sq.ft. INR 4.33 bn INR 4.16 bn INR 1.10 bn Completions New Projects IPO Secured Debt to Addition Equity Ratio 3 Projects Raised INR 5.60 bn 0.2 mn Sq.ft. (Est GDV ~INR 17.50 bn) 0.3:1 12
Slide 14: Performance Snapshot (YTD FY-23)
Performance Snapshot (YTD FY-23) Area sold Pre-Sales Value Collections OCF 0.8 mn Sq.ft. INR 11.31 bn INR 11.63 bn INR 2.80 bn Completions New Projects Pre - IPO and IPO Secured Debt to Addition Equity Ratio 5 Projects Raised INR 7.30 bn 0.3 mn Sq.ft. (Est GDV ~INR 34.25 bn) 0.3:1 13
Slide 15: Ongoing projects as on Q3 FY-23
Ongoing projects as on Q3 FY-23 Saleable Area Sold Receivable Est Unsold Inventory Category No. of Projects (mn sq ft) (INR bn) (INR bn) Residential (A) 10 4.9 23.32 36.03 Super Premium/Premium 2 1.5 8.54 18.18 Aspirational 3 0.4 2.53 6.52 Mid & Mass 4 2.4 11.04 9.53 Affordable 1 0.5 1.21 1.80 Comme
Slide 16: Forthcoming projects as on Dec 31, 2022
Forthcoming projects as on Dec 31, 2022 Saleable Area Est. GDV Category No. of Projects (mn sq ft) (INR bn) Residential (A) 20 23.0 290.29 Super Premium/Premium 4 0.6 39.42 Aspirational 6 1.5 39.85 Mid & Mass 7 9.7 155.17 Affordable 3 11.2 55.86 Commercial (B) 2 4.0 50.80 Total (A+B) 22 27.0 341.09
Slide 17: Category wise performance YTD FY-23
Category wise performance YTD FY-23 Area Sold (mn Sq.ft.) Average Realisation (INR) Category YTD FY-23 YTD FY-22 % change YTD FY-23 YTD FY-22 % change Super premium / Premium 0.1 0.4* (78%) 32,639 28,478 15% Aspirational 0.0 0.0 - 29,690 27,825 7% Mid & Mass 0.4 0.3 40% 13,783 11,698 18% Affordable
Slide 18: Category wise performance YTD FY-23 (continued)
Category wise performance YTD FY-23 (continued) Pre-Sales (INR bn) Collections (INR bn) Category YTD FY-23 YTD FY-22 % change YTD FY-23 YTD FY-22 % change Super premium / Premium 2.63 10.21* (74%) 3.87 11.50* (66%) Aspirational 1.39 1.36 3% 2.72 1.16 134% Mid & Mass 6.12 3.71 65% 3.70 2.18 70% Affor
Slide 19: Historical Operational Performance (Last 5Q)
Historical Operational Performance (Last 5Q) 0.7 618 Pre-Sales Sales (No. of units) (mn Sq.ft.) 0.4 272 0.3 0.3 260 260 225 0.2 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Pre-Sales (INR bn) Collections 10.43 (INR bn) 6.92 8.08 4.57 4.03 4.16 3.44 4.55 4.33 2.44 Q3FY22 Q4FY
Slide 20: New Launches (YTD FY-23)
New Launches (YTD FY-23) Nature of Saleable Area Est GDV Project Launch Quarter Location Category Development (mn sq. ft) (INR bn) Global City - Q1 FY 23 Virar W Affordable Own Land 0.2 0.90 Avenue L - Wing JK La Familia - Tower C Q2 FY 23 Thane W Mid & Mass JDA + JV 0.3 4.55 Total 0.5 5.45 19
Slide 21: New Project Addition (YTD FY-23)
New Project Addition (YTD FY-23) Quarter of Nature of Saleable Area Est GDV Project Location Category Acquisition Development (mn sq. ft) (INR bn) Jariwala Q1 FY 23 Mahim Aspirational Joint Development 0.5 11.50 Sagar Tarang Q1 FY 23 Versova Super Premium/Premium Society Redevelopment 0.1 5.25 Vivek
Slide 22: Cash Flows
Cash Flows Particulars (INR mn) Q3 FY-23 Q2 FY-23 Q3 FY-22 YTD FY-23 YTD FY-22 Operating Activities Net Collections 2,621 1,961 2,384 7,415 6,224 Construction Cost (891) (681) (572) (2,452) (1,388) Land and Approval Payments (185) (125) (848) (846) (3,020) Employee and Admin Expenses (280) (275) (27
Slide 23: Financial Summary
Financial Summary Consolidated Results Q3 FY-23 Q2 FY-23 Q3 FY-22 9M FY-23 9M FY-22 FY21-22 (INR mn) Revenue from Ops 1,265 462 8,708 3,413 10,356 12,694 Other Income 90 95 73 260 195 336 Total Income 1,355 557 8,781 3,673 10,551 13,030 Adjusted EBITDA* # 450 67 2,748 981 3,123 4,304 Adjusted EBITDA
Slide 24: Financial Summary
Financial Summary Debt Movement (INR mn) 9M FY-23 FY 21-22 Gross Debt 5,165 7,184 Less: Cash and cash equivalents 4,184 2,511 Net Debt 982 4,673 Gross Debt to Equity ratio 0.32 0.75 Net Debt to Equity ratio 0.06 0.49 Debt in JV Co. (Rustomjee Share) 836 499 23
Slide 25: ESG
ESG Environmental Social Governance initiatives initiatives • Tie up with Tata Power to deploy • Awareness and training on Policies Implemented: EV chargers across Rustomjee Health and Safety at sites for projects employees and workers • Anti bribery and anti • Sewage treatment plants (STPs), • Indu
Slide 26: 3. Management Structure
3. Management Structure 25 ll\ugtomtee®I ~~ BUILDING EXCELLENCE
Slide 27: Experienced Promoters and Directors
Experienced Promoters and Directors Boman Irani Chandresh Mehta Percy Chowdhry CMD Executive Director Executive Director 26+ years of Real Estate experience 26+ years of Real Estate 23+ years of Real Estate President of CREDAI – MCHI Experience Experience President Elect - CREDAI Directs the redevel
Slide 28: Supported by a Professional Management Team
Supported by a Professional Management Team Sajal Gupta (Group CFO & Bimal Nanda (Group CS and Venkatraman B. (Chief Rakesh Setia (Chief Anupam Verma Head Corporate Strategy) Compliance Officer) Operating Officer) sales Officer) (President & CEO - Kapstone Previously associated with Otis Previously
Slide 29: Shareholding Pattern as of December 31, 2022
Shareholding Pattern as of December 31, 2022 FPIs Abu Dhabi Investment Authority Morgan Stanley India Societe Generale FPI 2.45% Mutual Funds Tata Mutual Fund Mutual Funds 1.82% Aditya Birla Sun Life Insurance 1.42% IDFC Emerging Businesses AIF 2.67% Promoter Bodies Corporate 2.88% AIF 86.70% HDFC C
Slide 30: Completed projects
Completed projects Townships 17. Shimmer, Juhu 1. Global City, Virar (W) Phase 1 18. 7 JVPD, Juhu 1. Global City, Virar (W) Phase 2 19. 9 JVPD, Juhu 2. Urbania, Thane (W) 20. Central Park, Andheri (E) 21. Buena Vista, Bandra (W) Residential Projects 22. La Sonrisa, Matunga (E) 4. Elements Off Juhu C
Slide 31: Disclaimer
Disclaimer Some of the statements in this presentation may be ‘forward-looking statements’ within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company’s operations include chang
Slide 32: Thank You
Thank You KEYSTONE REALTORS LIMITED 702, Natraj, M.V. Road Junction, Investor Relations Contact: ~ Western Express Highway, Andheri East, Mumbai – 400 069 Email: investor-relations@rustomjee.com KiYsToNE Tel: 022 – 667 66 888 REALTORS Corporate Identification Number: BUILDING EXCELLENCE U45200MH1995