Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q1 FY2022 Earnings Presentation
38 slides from Godrej Properties's earnings presentation, Aug 3, 2021
Slide 1: Exchange filing cover letter
Godrej Properties Limited Regd. Office: Godrej One, 5th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai – 400 079. India Tel.: + 91-22-6169 8500 Fax: + 91-22-6169 8888 Website: www.godrejproperties.com CIN: L74120MH1985PLC035308 August 03, 2021 BSE Limited Phiroze Jeejeebhoy Towe
Slide 2: Results Presentation First Quarter, Financial Year 2022
R E S U LT S P R E S E N T A T I O N FIRST QUARTER, FINANCIAL YEAR 2022 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 3: Disclaimer
DISCLAIMER Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operation
Slide 4: Agenda
AGENDA Overview 01 Q1 FY22 Operational Highlights 02 Q1 FY22 Financial Highlights 03 Annexure 04 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY22
Slide 5: Godrej Group
GODREJ GROUP Established in 1897 Value Creation Track Record $5 billion in annual revenue 20 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth 1.1 billion people globally use a Godrej product1 BSE Sensex 15% 16 Godrej ranks amongst the most trusted Indian brands2 Go
Slide 6: Godrej Properties
GODREJ PROPERTIES Established in 1990 Indias largest developer by residential sales in FY21 Successfully delivered ~21 million sq. ft. of real estate in the Chandigarh 0.5, 1 NCR past five years 27.3, 15 ~185 million sq. ft. of saleable area across India Differentiated asset-light busines
Slide 7: Strengths
STRENGTHS 1 1.1 billion people globally use a Godrej product Godrej Brand Godrej Properties ranked as the most trusted real estate brand in the 2019 Brand Trust Report GPL brings the Godrej brands reputation for trust, quality and corporate governance to the real estate sector Effective Land
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth ~9x an identical investment into the BSE Realty Index Value Creation Track Record 11 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 10.0% 2.99 Godrej Properties 17.0% 6.07 BSE Realty Index -3.0%
Slide 9: Agenda
AGENDA Overview 01 Q1 FY22 Operational Highlights 02 Q1 FY22 Financial Highlights 03 Annexure 04 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY22
Slide 10: Q1 FY22 Operational Highlights
Q1 FY22 OPERATIONAL HIGHLIGHTS Demand deferment in April & May, however sales enquiries have risen from June onwards Project approval delays from regulatory authorities due to local restrictions COVID – 19 Second Delay in closure of business development deals, which are now expected to be comp
Slide 11: Sales Highlights
SALES HIGHLIGHTS Particulars Q1 FY22 Q1 FY21 Growth Q4 FY21 Growth FY21 Area Sold (sq. ft.) 771,817 2,512,288 -69% 4,176,803 -82% 10,813,774 Booking Value (INR Cr) 497 1,531 -68% 2,632 -81% 6,725 City-wise Sales Breakdown NCR Pune • Registered total sales of 0.19 million sq. ft. through sale • Regis
Slide 12: Project Booking
PROJECT BOOKING Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Residential Projects Q1 FY22 Q1 FY22 Godrej Woods, NCR 52,363 56 Godrej Boulevard/Parkridge, Pune 91,417 50 Godrej Golf Links, NCR 48,010 37 Godrej Woodland, Bangalore 84,895 28 The Highlands/Godrej City, MMR 39,207 28 Godrej
Slide 13: Project Booking (Contd.)
PROJECT BOOKING (Contd.) Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Commercial Projects Q1 FY22 Q1 FY22 Godrej Eternia, Chandigarh 4,261 3 Total 4,261 3 Grand Total 771,817 497 12 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY22
Slide 14: Monthly Sales Trend
MONTHLY SALES TREND • Sales velocity has been encouraging since June with rising enquires • June sales were significantly higher than the combined sales value of April and May Monthly Sales Trend Sales Value Contribution (%) 350 329 0.60 300 0.50 0.49 250 0.40 34% (Million sq. ft.) 200 (INR Cr) 0.30
Slide 15: Quarterly Sales Trend
QUARTERLY SALES TREND 3,000 Quarterly Sales Value 2,632 2,500 2,383 2,000 (INR cr) 1,531 1,488 1,446 1,500 1,189 1,074 1,000 497 500 0 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Quarterly Sales Volume 4.5 4.2 4.0 3.6 3.5 (Million sq. ft.) 3.0 2.5 2.4 2.5 2.3 2.0 1.7 1.6 1.5 1.0
Slide 16: Business Development
BUSINESS DEVELOPMENT • GPL is evaluating transactions in advanced stages across its core focus regions • Sourcing of documents for project closures proved to be the biggest bottleneck as a result of local lockdown restrictions in the first quarter • We expect these transactions to get concluded in t
Slide 17: Launch Tracker FY22
LAUNCH TRACKER FY22 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY22 New Phase Launches Planned in FY22 Project City Launch Launch Status Area* Project City Status Area* Bagalur Phase 1 B
Slide 18: Construction Highlights
CONSTRUCTION HIGHLIGHTS Delivered ~0.5 million sq. ft. in Pune in Q1 FY22 Godrej Elements, Pune 0.49 million sq.ft. GPL Economic Interest: Revenue Based 96% (GPL owns 49% equity in project specific company) 17 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY22
Slide 19: Construction Highlights (Contd...)
CONSTRUCTION HIGHLIGHTS (Contd...) • We retained most of the construction workers at our sites during the lockdown • Construction activity continued at most sites, albeit at a slower pace Workforce strength stood at 131% of our pre-COVID strength as of June end 250% 224% 200% 176% ( % of Total Workf
Slide 20: Sustainability and CSR Initiatives
SUSTAINABILITY AND CSR INITIATIVES Reporting ESG ESG Rating GPL leads the ESG ratings for real estate sector in CRISIL Ltd.s ESG report Process, Products As on Q1 FY22, 91.24% of GPL project portfolio* is certified under credible external green rating systems such as the Indian Sustainable and
Slide 21: Agenda
AGENDA Overview Q1 FY22 Operational Highlights 02 Q1 FY22 Financial Highlights Annexure 04 03 20 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY22
Slide 22: Consolidated Financial Statements – P & L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q1 FY22 Q1 FY21 % Change Q4 FY21 % Change FY21 Total Income 232 165 40% 508 -54% 1,217 Adjusted EBITDA* 84 44 91% -72 216% 150 EBITDA** 82 40 108% -79 204% 119 Profit before tax 36 -15 343% -125 129% -86 Net Profit after tax 17 -19 188%
Slide 23: Consolidated Financial Statements - Cashflow
CONSOLIDATED FINANCIAL STATEMENTS - CASHFLOW (INR Cr) Notes Particulars Q1 FY22 Operating cashflow Total operating cash inflow 1,274 A Operating cash outflow Construction and related outflow -705 Other project related outflow -664 Total operating cash outflow -1,369 Net operating cashflow -95 Financ
Slide 24: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 30.06.2021 As on 31.03.2021 A Assets Unaudited Audited 1 Non Current assets a Property, plant & equipment 98.76 101.51 b Right-of-Use Asset 25.76 27.83 c Capital Work-in-Progress 240.18 229.25 d Investment Property 22.89 23.17
Slide 25: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 30.06.2021 As on 31.03.2021 B Equity and Liabilities Unaudited Audited 1 Equity a Equity share capital 138.99 138.97 b Other equity 8,198.05 8,180.52 c Non-controlling interest - - Total Equity 8,337.04 8,319.49 2 Liabilities 2
Slide 26: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators Particulars Q1 FY2022 Q1 FY2021 Q4 FY2021 FY2021 Adjusted EBITDA / Total Income* 36.1% 26.6% -14.2% 12.3% EBITDA / Total Income** 35.5% 24.0% -15.5% 9.8% PBT Margin % 15.4% -8.9% -24.6% -7.0% Net Profit Margin %# 7.3% -11.6% -37.7% -15.6% *Adjusted EBITDA
Slide 27: Agenda
AGENDA Overview Q1 FY22 Operational Highlights 02 Q1 FY22 Financial Highlights 03 Annexure 04 26 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY22
Slide 28: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based - 73.6% 1 Godrej Garden City* Ahmedabad Residential 14.80 Own Phase V: Revenue Based - 67.6% Ongoing Phase VI: onwards - 17% of Reve
Slide 29: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 18 Sarjapur 4 Bangalore Residential 1.60 Own 100% owned project Forthcoming 19 Whitefield Bangalore Residential 2.50 Own 100% owned project, 5.4% area share t
Slide 30: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 34 Godrej Park Mumbai Residential 0.77 Own Revenue Based – 56.5% Forthcoming 35 Godrej Vihaa Mumbai Res idential 1.30 DM DM Fee – 10% of Revenue Ongoing Profi
Slide 31: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 51 Godrej Nirvaan Mumbai Residential 2.42 JV Profit Share - 50% Ongoing 52 Taloja Mumbai Residential 7.50 JV Profit Share - 55% Forthcoming 53 Thane Mumbai Re
Slide 32: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 68 Godrej Infinity Pune Residential 2.79 JV Profit Sharing - 35% Ongoing 69 Godrej Greens Pune Residential 1.05 JV Profit Sharing - 40% Ongoing 70 Bavdhan Pun
Slide 33: B. Commercial Projects
B. COMMERCIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based 73.6% 1 Godrej Garden City* Ahmedabad Residential 2.40 Own Phase V : Revenue Based - 67.6% Ongoing Phase VI : onwards - 17% of Revenu
Slide 34: Thank You
THANK YOU For further information, please contact: Rajendra Khetawat Godrej Properties Limited Tel: +91 22 6169 8500 Fax: +91 22 6169 8888 Email: rajendra@godrejproperties.com 38 | GODREJ 33 | GODREJ PROPERTIES PROPERTIES I RESULTS I RESULTS PRESENTATION PRESENTATION Q1 FY22Q4 FY19
Slide 35: Press Release: Consolidated Financials for Q1 FY22 Results
GODREJ PROPERTIES LIMITED CIN : L74120MH1985PLC035308 Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express Highway, Mumbai – 400079 PRESS RELEASE Consolidated Financials for Q1 FY22 Results Total booking value for Q1 FY22 stood at INR 497 crore Tot
Slide 36: Press Release: Business Development and Other Highlights
Business Development Project Update under Commercial Platform Indira Nagar, Bangalore GPL has bought a 20% stake in a company to develop a commercial project with Godrej Fund Management under its commercial platform The project offers 1.05 million sq. ft. of leasable area GPL’s economic intere
Slide 37: Financial Overview (Consolidated)
Financial Overview (Consolidated) Q1 FY2022 performance overview compared with Q1 FY2021 Total Income stood at INR 232 crore as compared to INR 165 crore EBITDA stood at INR 82 crore as compared to INR 40 crore Net Profit stood at INR 17 crore as compared to INR (19) crore EPS# amounted to I
Slide 38: About Godrej Properties Limited
About Godrej Properties Limited: Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 124 year legacy of excellence and trust with a commitment to cutting edge design, technology,