Puravankara Limited · NSE:PURVA
Puravankara — Q3 FY23 Earnings Presentation
54 slides from Puravankara's earnings presentation, Feb 10, 2023
Slide 1: Exchange filing cover letter on Q3 FY23 results presentation
February 10, 2023 To, The General Manager – DCS, The Manager, Listing Operations-Corporate Services Dept. Listing BSE Ltd. Department, 1st Floor, New Trading Ring, Rotunda National Stock Exchange of India Ltd., Building, 'P J. Towers, Dalal Street, Fort, Exchange Plaza, 5th Floor, Plot No. C/1, G Mu
Slide 2: Investor Presentation Q3 FY23
Investor Presentation Q3 FY23 Purva Sunflower 1
Slide 3: Table of content
Table of content * Company Overview 3–7 * Operational Overview – Area and Sales 11 – 13 * Development Bank 8 – 10 * Updates on Financials 15 – 18 * Updates on Cash flows 19 – 20 * Updates on Debt 21 * Updates on inventory : Project Status 22 – 25 * Other corporate information 26 – 33 * Disclaimer 53
Slide 4: Company Overview
Company Overview
Slide 5: Differentiated Brands Offering Wider Customer Base; Larger Market Share
Differentiated Brands Offering Wider Customer Base; Larger Market Share. luxury housing and commercial offices Affordable Luxury Segment Plotted Development • India's most reliable real estate developer, with an established presence in luxury 80+ 18000 + residences, commercial, Completed residential
Slide 6: Purva Land – Plotted land development
Purva Land – Plotted land development • Dedicated arm for plotted land Bangalore development • Devanhalli (Tivoli Hills) • To cater to the evolving needs of • Rampura (Purva Oakshire) homebuyers and offer a highly • S Medahalli • Kanakpura (Tree Haven) lucrative investment opportunity • To enable ou
Slide 7: World Class Technology
World Class Technology Starworth Infrastructure and Construction Limited – wholly owned subsidiary focussed on technology enabled construction solutions • Design-build, Civil and MEP Capabilities for a wide variety of real estate and infrastructure projects • 100% precast solutions –construction spe
Slide 8: Industry Update – Real Estate
Industry Update –Real Estate Inventory overhang is Sector records highest leasing at an all time low of 12 activity since the peak of 2019 months in tier 1 cities Rental recovery continued across PM Awas Yojna funds increased by Continued momentum several cities due to sustained 66% to 79,000 cr pro
Slide 9: Key Business Highlights – Q3 FY23
Key Business Highlights – Q3 FY23 ~INR 796Cr 1.02 msft ~INR 621 Cr ~INR 7,767 Sales Value* Sales volume Customer Collections* Average Realization ₹ psf Increase in sales by Increase in sales volume by 90% YoY increase indicating Increase by 15% YoY 20% YoY 3% YoY improving operating efficiencies We
Slide 10: Operational Highlights – Q3FY22 vs Q3FY23
Operational Highlights – Q3FY22 vs Q3FY23 Sales Value (INR Cr) Customer Collections* (INR Cr) Revenue from projects (INR Cr) 796 650 621 450 800 392 600 400 550 350 500 300 450 250 221 700 666 400 200 341 350 150 300 100 250 50 600 200 0 Q3FY22 Q3FY23 Q3FY22 Q3FY23 Q3FY22 Q3FY23 Volume (msft) Realiz
Slide 11: Operational Highlights – 9MFY22 Vs 9MFY23
Operational Highlights – 9MFY22 Vs 9MFY23 Sales Value (INR Cr) Customer Collections* (INR Cr) Revenue from projects (INR Cr) 1,700 1,585 900 847 1,500 800 2,100 2,400 1,300 700 659 2,100 1,100 995 1,800 1,576 600 900 1,500 500 700 1,200 500 400 9MFY22 9MFY23 9MFY22 9MFY23 9MFY22 9MFY23 Volume (msft)
Slide 12: Operational Overview: Area and sales
Operational Overview Area and sales
Slide 13: Sales Q3FY23 Vs Q3FY22
Sales Q3FY23 Vs Q3FY22 Based on Bookings Quarter Ended Area Sold Units Sold Sale Value Sale Realization Dec-22 Dec-21 % Dec-22 Dec-21 % Dec-22 Dec-21 % Dec-22 Dec-21 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 0.59 0.33 80% 343 169 103% 518 303 71% Completed Projects 0.01 0
Slide 14: Sales 9MFY23 Vs 9MFY22
Sales 9MFY23 Vs 9MFY22 Based on Bookings 9MFY Area Sold Units Sold Sale Value Sale Realization Dec-22 Dec-21 % Dec-22 Dec-21 % Dec-22 Dec-21 % Dec-22 Dec-21 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 1.29 0.95 36% 670 517 30% 1133 822 38% Completed Projects 0.12 0.19 -37%
Slide 15: Sales area Classification – Unit Value & Regional contribution
Sales area Classification – Unit Value & Regional contribution Unit Value wise contribution to sales value Q3FY23 9MFY23 > Rs 2 cr < Rs 0.5 Cr 9% > Rs 2 cr < Rs 0.5 Cr • Unit Value wise –Almost 13% 10% 18% 80% of the Group’s sales Rs 1.5 - 2 cr are accounted by units 13% which costs less than Rs 2 R
Slide 16: Steady Sales Performance
Steady Sales Performance Quarterly Sales Value (in INR Cr) 900 831 791 796 800 753 700 666 600 570 597 • We have achieved 496 513 highest sales in the 500 399 last 3 quarters of the 400 current FY compared 314 300 against the respective 200 quarters of any previous FY 100 0 Q1 FY21 Q2 FY21 Q3 FY21 Q
Slide 17: Development Bank
Development Bank Artist’s impression of Purva Atmosphere
Slide 18: Diversified across markets, brands and stages of development
Diversified across markets, brands and stages of development in million sq. ft. Completed Ongoing Land Assets Total (A) (B) (A)+(B) South India Bengaluru 31.87 12.19 37.34 49.53 Chennai 6.54 2.52 8.23 10.75 Hyderabad 2.49 0.45 - 0.45 Kochi 1.89 3.97 3.67 7.64 Others 1.57 0.36 0.45 0.81 West India 0.
Slide 19: Ongoing and New Launches
Ongoing and New Launches Non-Bengaluru projects now account for 48% of the Provident accounts for 45% of the launch pipeline; in line share of ongoing and 56% of launch pipeline with the market trends and the Group‘s strategy 7% 8% NewLaunch 1% 19% es 19% Ongoing 6% Launch Pipeline 16% 45% 36% 50% 1
Slide 20: Launches during the 9MFY23
Launches during the 9MFY23 Sr. No. Project City Area (in msft) Launches during the current year • During the 9M period, we launched 7 projects across 3 1 Hibiscus Coimbatore 0.13 100% = 4.11 msft cities cumulating up to 4.11 2 Meraki Bengaluru 0.12 msft 3 Park Hill Bengaluru 0.21 • Another 3 project
Slide 21: Launch Pipeline
Launch Pipeline Sr. no Location/ Project Name City Development Model Development Type Developable Area PPL Share in JD Saleable area (msft) Expected launch date Puravankara 1 Bellandur Bengaluru Owned Residential 0.47 100% 0.47 Q2FY24 2 Amaiti 2 Coimbatore Owned Residential 1.07 100% 1.07 Q2FY24 3 M
Slide 22: Update on Financials
Update on Financials
Slide 23: Consolidated Statement of Profit & Loss for the quarter ended December 31, 2022
Consolidated Statement of Profit & Loss for the quarter ended December 31, 2022 All numbers in INR Cr Particulars Q3FY23 Q2FY23 Q3FY22 Income from operations Revenue from projects 392.45 239.48 221.34 • Our revenue from projects increased by Other Income 17.95 13.37 25.11 77% to 392 Cr in Total Inco
Slide 24: Consolidated Statement of Profit & Loss for the 9M ended December 31, 2022
Consolidated Statement of Profit & Loss for the 9M ended December 31, 2022 All numbers in INR Cr Particulars 9MFY23 9MFY22 Income from operations • Our revenue from Revenue from projects 846.78 659.15 projects increased by Other Income 113.82 402.38 28% to 847 Cr in Total Income from operations 960.
Slide 25: Update on Cash flows
Update on Cash flows Investor Presentation Q3 FY23 24
Slide 26: Cash Flow
Cash Flow All numbers in INR Cr Cash Flow Statement Q1 FY 23 Q2 FY 23 Q3 FY 23 9M FY 23 9 MFY 22 9MFY23 Vs 9MFY22 A Operating Inflows 666.8 677.6 741.9 2,086.3 1,656.1 26% Collection from operations 543.9 673.5 741.9 1,959.3 1,100.3 78% Collection from other than operations 122.9 4.1 0.0 127.0 555.8
Slide 27: Cash Flow - Trends
Cash Flow - Trends All numbers in INR Cr Collection from operations Collection from operations Q3FY22 Vs Q3FY23 9MFY22 Vs 9MFY23 2,500.0 800.0 741.9 • For the 9M period, 1,959.3 2,000.0 collection from 600.0 operations increased 396.6 1,500.0 400.0 1,100.3 by ~78% indicating 1,000.0 improvement in 2
Slide 28: Cash Flow Potential
Cash Flow Potential Puravankara Provident Total Balance collections from sold units 1 (A) 1,394 1,250 2,643 Value of Inventory open for sale 2 (B) 4,032 1,609 5,641 • Cashflow Visibility of Rs.6,774 Crores in Balance cost to go 3 (C) 2,349 1,168 3,517 next 3-5 years • Balance receivables of Surplus
Slide 29: Update on Debt
Update on Debt
Slide 30: Debt movement pattern
Debt movement pattern All numbers in INR Cr in Rs. Cr Q3FY23 Q2FY23 Q1FY23 Q4 FY22 Q3 FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Opening Balance 2525 2192 2190 2283 2189 2136 2502 2613 2834 Net Addition (Repayment) 50 333 2 -93 94 53 -366 -111 -221 Debt Outstanding 2575 2525 2192 2190 2283 2189 2136 2502 2613
Slide 31: Borrowing Cost Management
Borrowing Cost Management Debt/ sft of under construction area Q3FY23 Q2FY23 Q1FY23 Q4 FY22 Q3 FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q3FY20 Q3 FY19 • With our aggressive Net Debt 2135 2144 1889 1846 1857 1860 1848 2299 2372 2590 2749 launches- our debt Ongoing Projects (msft) 17 16 15 15 14 13 13 13 12 1
Slide 32: Debt Management & Repayment Schedule
Debt Management & Repayment Schedule Amount Particulars (in Rs crore) Scheduled Repayment schedule Group A - Approved (including not launched for sale) (in INR Cr) • Group’s net debt is Rs projects1 2,135 Crore which Balance cusomter collection A 12,582 compares favorably Balance cost to go B 5,808
Slide 33: Debt Management & Repayment Schedule
Debt Management & Repayment Schedule Debt Composition • Debt towards Residential real estate Q2FY23 Q3FY23 Movement development is decreasing Residential 2,259 2195 -66 • In coming quarters, construction progress of commercial Capex towards Commercial projects will increase 91 106 15 debt towards de
Slide 34: Project Status
Project Status Provident Sunworth Investor Presentation Q3 FY23 33
Slide 35: Project Status – Completed Projects as on Dec 31, 2022
Project Status – Completed Projects as on Dec 31, 2022 Area Sold Developable JD / JV Share Puravankara's Share - Unsold S.No. Project Location Total Flats Area for Developer Developable Area Launched Cumulative Inventory Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % COMPLETED Puravankara 1 Co
Slide 36: Project Status – Under Construction as on December 31, 2022
Project Status – Under Construction as on December 31, 2022 Developabl JD / JV Share for Puravankara's Share - Area Unsold S.No. Project Location Total Flats Sold Cumulative e Area Developer Developable Area Launched Inventory Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION P
Slide 37: Project Status – Not yet open for Sale as on December 31, 2022
Project Status – Not yet open for Sale as on December 31, 2022 Developable JD / JV Share Puravankara's Share - Unsold S.No. Project Location Total Flats Sold Cumulative Area for Developer Developable Area Area Inventory Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % PHASES NOT OPEN FO
Slide 38: Ongoing Residential City wise
Ongoing- Residential City wise City Total Projects Area Puravankara’s share Area Launched Sold Area Inventory Mnsft Coimbatore 2 0.60 0.60 0.13 0.08 0.05 Mumbai 3 0.95 0.73 0.65 0.21 0.43 Bengaluru 18 11.71 10.36 6.34 3.61 2.73 Chennai 2 2.53 2.53 2.53 0.19 2.33 Hyderabad 2 0.45 0.33 0.33 0.22 0.11
Slide 39: Appendix 1: Other Corporate Information
Appendix 1: Other Corporate Information Investor Presentation Q3 FY23 38
Slide 40: Governance Structure to drive long term growth
Governance Structure to drive long term growth Executive Team Ravi Puravankara Ashish Puravankara Nani R. Choksey Abhishek Kapoor Chairman Managing Director Vice Chairman Executive Director & CEO • Over 44 years of experience in real • Bachelor’s degree in Business • Experience of over 44 years in t
Slide 41: 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 Sanjeeb Chaudhuri Non- Executive Independent Non- Executive Independent Non- Executive Independent Non- Executive Independent Director Director Director Director • Bachelor’
Slide 42: Key Strengths/Building a strong strategy/Growth Drivers
Key Strengths/Building a strong strategy/Growth Drivers Land Bank Potential Business Development-Strong Rich Talent Credit Rating Continued unlocking of pipeline of business development Strong & Experienced Leadership Stable development potential Acquired 100 acres of land parcel in Senior executive
Slide 43: Shareholding Pattern as of December 31, 2022
Shareholding Pattern as of December 31, 2022 Others, Mutual Funds, 8.21% 0.44% FII & FPI, FPIs 16.35% Gothic Corporation Atyant Capital Insurance and Bodies Corporate Mutual Funds Life Insurance Corporation Franklin Templeton General Insurance Corporation LIC Mutual Fund Promoter, 75.00% Notes 1. Pr
Slide 44: Share Price Movement
Share Price Movement 200 150 100 50 0 Dec-21 Dec-21 Jan-22 Mar-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 PURVA SENSEX BSE REALTY Notes: Graph rebased to 100 Investor Presentation Q3 FY23 43
Slide 45: Awards and Accolades
Awards and Accolades e4m Pride of India - The Best of Bharat 12th REALTY+ EXCELLENCE AWARDS 2021, PUNE for 12th Annual Estate Awards - Developer of the Year - Realty+ 40 Under 40 Awards - Certificate Awards 2022 – Puravankara Ltd Best Themed Project of the Year - Purva Emerald Bay Residential (Sout
Slide 46: Media & Capital Market Recognition
Media & Capital Market Recognition Strong focus on customer experience, delivery and business expansion plans for future quarters. Strengthening leadership and presence across areas of operation. Investor Presentation Q3 FY23 45
Slide 47: Appendix 3: Our Completed Projects
Appendix 3: Our Completed Projects PURVA VENEZIA PURVA SKYWOOD PURVA SKYDALE Bengaluru Bengaluru Bengaluru Investor Presentation Q3 FY23 46
Slide 48: Appendix 3: Our Completed Projects
Appendix 3: Our Completed Projects PURVA BLUEMONT PURVA PALM BEACH PURVA ETERNITY Coimbatore Bengaluru Kochi Investor Presentation Q3 FY23 47
Slide 49: Appendix: Select Ongoing Projects
Appendix 4 : Select Ongoing Projects PURVA ZENIUM PURVA ASPIRE PROVIDENT PARKSQUARE PROVIDENT KENWORTH Bengaluru Pune Bengaluru Hyderabad Investor Presentation Q3 FY23 48
Slide 50: Appendix: Select Ongoing Projects
Appendix 4 : Select Ongoing Projects PROVIDENT CAPELLA PROVIDENT ADORA DE GOA PROVIDENT SKYWORTH Ph 2 Bengaluru Chicalim Mangaluru Investor Presentation Q3 FY23 49
Slide 51: Appendix: Completed commercial projects
Appendix 4 : Completed commercial projects PURVA PRIMUS PURVA SUMMIT Chennai Hyderabad Investor Presentation Q3 FY23 50
Slide 52: Appendix: Ongoing commercial projects
Appendix 4 : Ongoing commercial projects PURAVANKARA BUSINESS PARK ZENTECH Bengaluru Bengaluru Investor Presentation Q3 FY23 51
Slide 53: Disclaimer
Disclaimer This presentation has been prepared by Puravankara Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Puravankara Ltd.'s future business prospects and business profitability, which are subject to a number of ri
Slide 54: THANK YOU
THANK YOU Puravankara Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Corporate Identification Number : L45200KA1986PLC051571 Website:- www.puravankara.com Investor Relations Contact: Mr. Neeraj Gautam, Executive Vice President Email – Neeraj.Gautam@Puravankara.com; Tel: +9