Ansal Properties & Infrastructure Ltd. · NSE:ANSALAPI
Ansal Properties & Infrastructure — Q4 FY2011 Earnings Presentation
42 slides from Ansal Properties & Infrastructure's earnings presentation, May 26, 2011
Slide 1: Regaining its Old Glory: Q4 & FY2011 Investors' Update
Ansal Properties & Infrastructure Ltd. Regaining its Old Glory Q4 & FY2011 Investors’ Update May 26, 2011
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Ansal Properties & Infrastructure Ltd (the “Company”) solely for your information and for your use and may not be taken away, reproduced, redistributed or passed on, directly or indirectly, to any other person (whether within or outside your organiza
Slide 3: Presentation Flow
Presentation Flow • Q4FY11 Sector Update • Sector Outlook • Company Performance – At a Glance • Business Model • Land Details • Financials • Growth Strategy • FY2012 Guidance • Projects Summary Ansal API – Regaining its Old Glory
Slide 4: Q4FY11 Sector Update
Q4FY11 Sector Update • Liquidity tight, but above the recent crisis level of 2008 with a low probability of debt / interest / land payment default, and assets/land, property prices holding up across the cities • Residential: Volumes remained moderate in NCR. No increase in property prices witnessed
Slide 5: Sector Outlook
Sector Outlook • Improvement in macro economic factors including easing liquidity, stable interest rates expected in H2FY12 and +7% GDP growth will act as catalyst for the sector • Long‐term growth expected despite short‐term cyclical difficulties as the sector provides an attractive risk‐reward opp
Slide 6: Company Performance – At a Glance
Company Performance – At a Glance Operational (YoY) 26000 26 23927 23000 22.43 23 • Sold an area of ~6.62 mn.sq.ft. in Q4FY11 36.7% 20000 20 • Sale Value of area sold in Q4FY11 stood at Rs. Million mn.sq.ft. 17000 17 ~Rs. 6,789 mn 131.8% 14000 13.63 14 11000 10597 11 • Sold an area of ~22.43 mn.sq
Slide 7: Business Model
Business Model
Slide 8: Value Creation Model
Value Creation Model Land Plot Sales & Township Ongoing Aggregation Builtup Sales Development Monetization Process • Agricultural land purchase • After master planning • High density development • FSI sale and JV • Aggregation process and licensing, initiate the • Sale of social asset classes oppor
Slide 9: Townships at Various Stages
Townships at Various Stages * Plot Sales & Builtup Township Ongoing Land Aggregation Sales Development Monetization Sushant Golf City Phase II Sushant Golf City Phase I Esencia (extn.) Esencia Sushant City, Kundli (Extn.) Sushant City, Kundli Sushant City, Kurukshetra Sushant Megapolis Sushant Aqua
Slide 10: Business Operations
Business Operations
Slide 11: Operational Developments – Q4 & FY11
Operational Developments – Q4 & FY11 • Expansion of the company’s first Green Township in Gurgaon ‘Esencia’ by ~108 acres. Consequently the total project size increased to ~ 220 acres • Approval of DPR for license of another 1765 acres in the existing Hi‐Tech Township ‘Sushant Golf City’ in Lucknow.
Slide 12: New Launches – Q4 & FY11
New Launches – Q4 & FY11 Saleable Area Released Area Sold Sale Value S.No. Particulars Area for Sale (mn.sq.ft.) (Rs. Million) (mn.sq.ft.) (mn.sq.ft.) 1 Sushant Golf City, Lucknow Phase I a Felix Square (Commercial) 0.16 0.16 0.13 319.7 b Santushti Enclave (GHS) 0.36 0.36 0.34 585.07 c Celebrity Mea
Slide 13: Operational Performance – Q4 & FY11
Operational Performance – Q4 & FY11 • Sold an area of ~6.62 mn.sq.ft. in Q4FY11, aggregating to sale value of ~Rs. 6,789 mn • Total area sold in FY11 increased to ~22.43 mn.sq.ft., aggregating to total sale value of ~Rs. 23,927 mn • Collected ~Rs. 4,650 mn in Q4FY11, resulting in total collections t
Slide 14: Operational Performance – Q4 & FY11 (Contd..)
Operational Performance – Q4 & FY11 (Contd..) • Haryana & Uttar Pradesh projects contributed significantly to the total sales booked across the asset classes during the year • Total area sold till FY11 stood at 89.63 mn.sq.ft., aggregating to total sale value of ~ Rs. 76050 mn • Total collections fr
Slide 15: Saleability – State Wise
Saleability – State Wise 14 Area Sold 13.19 Sale Value Booked 12 12,100 11,114 10,805 10 10,100 Rs. Million 7.62 mn.sq.ft. 8 7.06 8,100 6 5.31 6,100 5,524 3.92 3.79 4,100 3,339 3,690 4 2.2 2,031 2,575 2 0.86 2,100 649 1,018 1,277 0.62 0.26 0.44 0.98 548 227 731 0.19 0.28 0.76 112 224 365 0.05 100 0
Slide 16: Saleability – Asset Class Wise
Saleability – Asset Class Wise 12 10.72 3 Area Sold Area Sold 2.49 10 2.5 2 8 mn.sq.ft. mn.sq.ft. 1.58 1.5 6 1.21 1.2 3.95 0.92 0.94 4 3.02 1 2.59 2.79 0.62 2.26 2.32 0.51 1.58 1.59 1.47 0.5 0.25 0.33 0.26 0.38 0.35 0.16 2 0.96 0.62 0.33 0.1 0.16 0.6 0.26 0.16 0.69 0.15 0 0 Q4FY10 Q4FY11 FY10 FY11 S
Slide 17: Realizations – Trending Up
Realizations – Trending Up Realization – FY11 Average Realization Minimum Maximum Asset Class (Rs. / Sq.Ft.) (Rs. / Sq.Ft.) 3520 3328 Average Realization improved by Plots 355 3500 3020 69.6% to ~ Rs. 1025 / sq.ft. in Villas 1300 3423 2520 2370 Q4FY11 vs. ~ Rs. 604 / sq.ft. in Floors 1007 3842 Rs. /
Slide 18: Saleability & Collections
Saleability & Collections Cumulative Sales Cumulative Collections 50000 80000 76050 100 45494 45000 70000 90 40000 90 80 35000 60000 Rs. Million 30229 Rs. Million mn.sq.ft. 52123 30000 70 50000 23628 41526 25000 67 60 40000 20000 50 12948 27398 54 15000 30000 40 10000 41 20000 30 5000 Till FY08 Till
Slide 19: Indicative New Launches – FY2012
Indicative New Launches – FY2012 Kundli / Sonipat Panipat Type: Plots, GHS, Shop cum Office Complex Type: Plots, Shop cum Office Complex Total Saleable Area: 0.97 mn.sq.ft. Total Saleable Area: 0.62 mn.sq.ft. Launch Price*: Rs. 1100 – Rs. 2200 / Sq.Ft. Launch Price*: Rs. 1100 – Rs. 2200 / Sq.Ft. Kar
Slide 20: Indicative New Launches – FY2012 (Contd..)
Indicative New Launches – FY2012 (Contd..) Sushant Golf City, Lucknow DAV Sushant Golf City, Lucknow Type: Hi‐Tech Township Type: GHS ‐ Golf Total Saleable Area: 40 mn.sq.ft. Total Saleable Area: 3.99 mn.sq.ft. Launch Price*: Rs. 2300 / Sq.Ft. Launch Price*: Rs. 3500 / Sq.Ft. Esencia Extension, Gur
Slide 21: Indicative New Launches – FY2012 (Contd..)
Indicative New Launches – FY2012 (Contd..) Fernhil, Gurgaon Sushant City, Meerut Phase II Extension Type: GHS Type: Integrated Township Total Saleable Area: 1.36 mn.sq.ft. Total Saleable Area: 0.9 mn.sq.ft. Launch Price*: Rs. 2600 / Sq.Ft. Launch Price*: Rs. 1000 / Sq.Ft. Planning Stage Launch Price
Slide 22: Major Townships Updates
Major Townships Updates Project Saleable Area Released Pending Area Sold Sale Value S.No. Township Name Location Size Area for Sale Collections Acres Mn.Sq.Ft. Mn.Sq.Ft. Mn.Sq.Ft. Rs. Million Rs. Million Sushant Golf City 1 Lucknow 1765 60.1 39.9 23.64 19094 9980 Phase I Sushant Golf City 2 Lucknow
Slide 23: Construction Updates
Construction Updates EWS, Lucknow EWS, Lucknow Felix Square, Lucknow Felix Square, Lucknow Golf Villas, Lucknow Golf Villas, Lucknow Celebrity Greens, Lucknow Celebrity Greens, Lucknow Celebrity Garden, Lucknow Celebrity Garden, Lucknow Shopping Square, Lucknow Shopping Square, Lucknow More photos a
Slide 24: Construction Updates (Contd..)
Construction Updates (Contd..) Esencia, Gurgaon Esencia, Gurgaon Esencia, Gurgaon Esencia, Gurgaon Galaxy Court, Panipat Galaxy Court, Panipat Fairway Apartment TK, Sushant Fairway Apartment TJ, Sushant Megapolis, GreatertNoida Megapolis, GreatertNoida Fairway Apartment TD, Sushant Fairway Apartm
Slide 25: Land Details
Land Details
Slide 26: Land Reserves
Land Reserves Net Land Land Land Bank / Particulars As of 31st As of 31st As of 31st Exhausted till Exhausted till S.No. Reserves as (All figures in Acres) Mar. 2010 Dec. 2010 Mar. 2011 31st Dec. 31st Mar. on 31st Mar. 2010* 2011* 2011 Acquired or agreed to be A 5066 5725 5975 acquired (1006) (1006)
Slide 27: Land Reserves (Contd..)
Land Reserves (Contd..) As on 31st Dec. 2010 As on 31st Mar. 2011 Particulars Total Saleable Area Total Saleable Area (mn.sq.ft.) (mn.sq.ft.) Ongoing Projects Opening Saleable Area 313 313 Less: Adjustment for revision in areas (2.0) (2.0) Balance 311 311 Add: New Land Reserves 1.5 1.5 Balance 312.5
Slide 28: Northern India Presence
Northern India Presence Punjab NCR Land Reserves (in acres) 777 Land Reserves (in acres) 4,400 % area acquired 57% % area acquired 95% Includes land reserve of 300 acres APIL intends to enter into a JDA for Haryana land parcel in Gurgaon Land Reserves (in acres) 935 % area acquired 100% Uttar Prades
Slide 29: Delivery Details
Delivery Details As on December 31, 2010 As on March 31, 2011 S.No. Asset Class Mn.Sq.Ft. Mn.Sq.Ft. 1 Residential a Plots 27.0 28.2 b GHS 1.9 1.9 c Villas 1.8 1.8 2 Commercial 0.5 0.5 3 Commercial FSI 0.8 0.8 4 Retail 0.3 0.3 5 Others 7.3 7.5 Total 39.6 40.9 Area Delivered (mn.sq.ft.) Till 31st Mar.
Slide 30: Deliverance
Deliverance THE ROYAL ENTRANCE Elite Floors, Panipat Sunshine CounthyKundli, Sonipat Sunshine CounthyKundli, Sonipat Sushant Royale, Karnal Elite Floors, Karnal Abhilasha Homes, Jodhpur More photos available on www.ansalapi.com Ansal API – Regaining its Old Glory
Slide 31: Deliverance (Contd..)
Deliverance (Contd..) Palm Grove Villa, Jaipur Icon Villa, Ajmer Dream Home, Ajmer VillaGolf Links, Mohali VillaSushant City, Kurukshetra VillaSushant Golf City, Lucknow More photos available on www.ansalapi.com Ansal API – Regaining its Old Glory
Slide 32: Financials
Financials
Slide 33: Performance Highlights – Q4 & FY11
Performance Highlights – Q4 & FY11 Net Sales Q4FY11 vs. Q4FY10 (Consolidated) 3500 3378 3197 3206 3274 • Net Sales at ~ Rs. 3274 mn vs. ~ Rs. 1908 mn 3000 ‐‐71.7% 2508 Rs. Million 2500 • PAT stood at ~ Rs. 123 mn vs. ~ (Rs. 9 mn) 2000 1805 1908 • EBITDA margin at 12.1 % vs. 5.9 % 623 bps 1500 1375 •
Slide 34: Performance Highlights – Q4 & FY11 (Contd..)
Performance Highlights – Q4 & FY11 (Contd..) 17.0% • Paid tax of ~ Rs. 629 mn during the year. Tax 15.8% 15.0% Rate @ 36.8 % in FY11 vs. 32.2% in FY10 13.0% • Debt reduced by ~ Rs. 1334 mn in FY11 to ~Rs. 11.0% 11.5% 15849 mn 9.0% • Average interest cost of debt as on 31st March, 7.0% 5.8% 7.2% 6.2%
Slide 35: Funds Raised – FY11
Funds Raised – FY11 • Successfully raised Rs. 2314 mn through QIP wherein Repaid high cost debt of ~ Rs. 150 mn and marquee investors like Artha Capital, Indus Capital, HDFC MF, balance utilized for Bajaj Allianz and few other institutional investors invested in operational expenses the company Post
Slide 36: Consolidated Profit & Loss A/C
Consolidated Profit & Loss A/C Rs. Million Particulars Q4FY11 Q4FY10 Q3FY11 FY11 FY10 Net Sales 3274.4 1907.6 3378.1 12357.2 8287.8 Change (yoy) 71.7% 49.1% 18.2% Other Operating Income 40.5 8.7 93.3 214.1 192.5 Total Expenditure 2938.6 1827.4 2824.5 10246.2 6743.2 EBITDA 402.4 113.2 646.9 2421.0
Slide 37: Consolidated Balance Sheet
Consolidated Balance Sheet Rs. Million Particulars As on 31st March 2011 As on 31st March 2010 SHAREHOLDERS' FUNDS: (a) Capital 787 615 (b) Reserves & Surplus 15610 12205 Share Application money 170 170 Minority Interest 814 1330 Loan Funds 16099 17183 Deferred Tax Liability (Net) 21 41 TOTAL 33501
Slide 38: Debt Position
Debt Position Rs. Million Debt Profile Particulars Amount CD / OCD Others NCD 5% Gross opening Debt (As on April 1, 2010) 17,183 5% 3% CC / OD Add: Fresh Disbursements during FY11 3,226 10% Less: Repaid during FY11 4,560 Gross Debt (As on March 31, 2011) 15,849 Corporate Loan 23% Less: Cash & Bank B
Slide 39: Growth Strategy
Growth Strategy • Northern India Focus: Continue to focus on high growth markets in NCR and in other states of Northern India • Asset Monetization: It will involve liquidation of current finished inventory and finished stock to raise capital to be deployed in the operations • Sale of Non Core busine
Slide 40: FY2012 Guidance
FY2012 Guidance…. Operational • Sales booking of ~16 mn.sq.ft. ‐ 18 mn.sq.ft. expected across various projects and various asset classes • Average Realization expected to increase to ~Rs. 1300 / sq.ft. ‐ Rs. 1400 / sq.ft. • Collections from the customers are expected to increase to ~ Rs. 20000 mn •
Slide 41: Projects Summary – Asset Class Wise
Projects Summary – Asset Class Wise Total Cost Cost to be Area sold till Pending Total Saleable Sale Value of Cash incurred till spent on area Area Released 31.03.2011 Collections GROSS BEFORE Area sold till received till 31.03.2011 released and S.No. Project Name for Sale (including Third till AREA
Slide 42: Thank You
Thank You Investor Relations Floor 1, 115, Ansal Bhawan, 16, K.G.Marg, New Delhi ‐ 110001 India Work: +91 11 663038561 / 663038334 Facsimile: +91 11 66302873 Email: ir@ansalapi.com Website: www.ansalapi.com
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