Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Q1 FY21 Earnings Presentation
41 slides from Mahindra Lifespace Developers's earnings presentation, Jul 29, 2020
Slide 1: Transforming Urban Landscapes - Mahindra Lifespaces
TRANSFORMING URBAN LANDSCAPES FOR mahlndra LIFESPACES 2 YEARS Date : 29 th July, 2020 To, BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai - 400 001 Sandra (East), Mumbai 400051 Listing : htt
Slide 2: Investor Presentation – Q1 FY21
ACTUAL IMAGE BLOOMDALE NAGPUR Investor Presentation – Q1 FY21 1
Slide 3: Contents
Contents ▪ Key Highlights ▪ Residential Business Update ▪ Integrated Cities & Industrial Clusters Update ▪ Financial Update 2
Slide 4: Key Highlights
Key Highlights The operating highlights from Slide 4 to Slide 24 are for the Company and its subsidiaries / joint ventures / associates engaged in the real estate business (mainly MLDL, MHPL, MBDL, MITL, MRDL, MHDL, MWCDL, MWCJL, MIPCL & MIPPL) Disclaimer: The Company has registered its ongoing proj
Slide 5: Q1 FY21 Business Performance
Q1 FY21 Business Performance Residential • Achieved Sales of 0.08 msft for Rs 39 Crores • Collections stood at Rs 72 Crores Integrated Cities and Industrial Clusters • Sales at MWC, Jaipur of 1.7 acres for 4.98 Crores • Sales at MWC, Chennai of 0.8 acres for 2.7 Crores 4
Slide 6: Q1 FY21 Financial Performance
Q1 FY21 Financial Performance All figures in Rs. Crs For MLDL Consolidated Q1 FY21 Q4 FY20 Q1 FY20 (As per IND AS) Total Income 22 111 120 EBIDTA** -19 -92 19 PAT -20 -224 # 13 For MLDL Consolidated Q1 FY21 FY20 (As per IND AS) Total Income 22 646 PAT -20 -193 # Net Debt 112 99 Net Worth 1681 1701 *
Slide 7: Business Overview
Business Overview Residential Integrated Cities & Industrial Clusters Mid and Premium Affordable Integrated Cities Industrial Clusters Residential Housing Brand: Brand: Brand: Brand: Development Development Gross Area Gross Area Footprint** 22.24 Footprint** 3.13 4437 629 msft msft acres acres Compl
Slide 8: Residential Business Update
Residential Business Update 7
Slide 9: Sales – Annual Trend
Sales – Annual Trend 1,500 1.69 1.80 1,300 1.60 1.41 1.40 1,100 1.18 1.16 1,023 1.20 900 836 0.90 1.00 818 700 0.80 611 500 536 0.60 300 0.40 100 0.20 (100) FY16 FY17 FY18 FY19 FY20# - Sales Value (Rs. Crs) Saleable Area (msft) Launches* msft 0.99 0.58 1.17 1.55 0.92 Compl~ etions* msft 3.29 0.93 0.
Slide 10: Sales – Quarterly Trend
Sales – Quarterly Trend 0.75 397 0.26 0.22 0.19 196 120 106 0.08 39 Q1 FY20 Q2 FY20* Q3 FY20* Q4 FY20 Q1 FY21 Sales Value (Rs. Crs) Saleable Area (msft) Launches Vicino I Happinest Kalyan Avadi VI (Block B) Comp~ letions Antheia IIIC Vivante, Bloombale Bloomdale IIB Mspace Windchimes II Happinest Bo
Slide 11: Sales - City and Price Segment wise
Sales - City and Price Segment wise Q1 FY21 City-wise Sales (Volume) Q1 FY21 City-wise Sales (Value) 14% MMR MMR 23% Pune Pune Nagpur 42% Nagpur 42% 19% NCR NCR 14% Chennai Chennai Bengaluru -5% Bengaluru 13% 11% 15% 12% Q1 FY21 Price Segment-wise Sales (Volume) Q1 FY21 Price Segment-wise Sales (Val
Slide 12: Operating Metrics
Operating Metrics Collections & Construction Spend (Rs. Crs) Completions & Launches (msft) 258 1.0 234 241 0.9 197 0.5 104 0.43 68 72 0.3 62 55 0.16 0.18 16 0.02 NA NA Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Customer Collections Construction Spend Comp
Slide 13: Project Portfolio
Project Portfolio Saleable Area (msft) # Location Ongoing Forthcoming Land Inventory MMR** 1.51 1.32 0.94 Pune 0.50 0.70 - Nagpur 0.56 - - NCR* 0.41 0.36 - Bengaluru - 0.74 - Chennai 0.62 1.18 9.50 Total 3.60 4.30 10.44 Total Completed Development – 17.47*** msft * NCR includes Delhi, Gurgaon and Fa
Slide 14: Summary of Ongoing and Forthcoming Projects
Summary of Ongoing and Forthcoming Projects Total Launched Completed Ongoing Balance (To Company / Region Project Name Development Development Development Development be launched) SPV A B C D E = (A-C-D) MMR Roots MLDL 0.14 0.14 - 0.14 - Vicino MLDL 0.26 0.07 - 0.07 0.19 Sakinaka # MLDL 0.39 - - - 0
Slide 15: Development mix of Ongoing Projects
Development mix of Ongoing Projects Indicative Area Range Region Project Name Location Segment Development Mix Prices Saleable (sqft) (Rs. Crs) MMR Roots Mumbai Mid-Premium 1 & 2 BHK 740 - 1239 1 - 1.5 Vicino Mumbai Mid-Premium 1, 2 & 3 BHK 754 - 2137 1.5 - 3.9 Serenes Alibaug Luxury 3, 4 BHK Villas
Slide 16: Summary of Ongoing Projects
Summary of Ongoing Projects Launched PTD Area PTD Sales RERA Location Project Name Development1 Sold % Completion** Value Completion (msft) (msft) (Rs. Cr) Date*** MMR Roots 0.14 0.09 60% 114.1 Sep-22 Vicino I 0.07 0.03 63% 54.3 Mar-24 Happinest Kalyan I 0.33 0.23 35% 121.7 Dec-23 Happinest Kalyan I
Slide 17: Forthcoming Projects
Forthcoming Projects Est. Saleable Area Location Name of the Project msft Subsequent Phases of Existing Projects Vicino 0.19 MMR Serenes 0.10 NCR Luminare # 0.36 Aqualily 0.08 Chennai Lakewoods 0.62 Happinest Avadi 0.07 TOTAL - Subsequent Phases of Existing Projects 1.42 New Projects Sakinaka # 0.39
Slide 18: Balance Inventory in Completed Projects
Balance Inventory in Completed Projects Balance units Balance area Location Project Name Company MLDL Holding to sell * to sell (msft) * Happinest Boisar MLDL 100% 150 0.07 MMR Vivante MLDL 100% 1 0.00 Pune Antheia MLDL 100% 4 0.01 Nagpur Bloomdale MBDL 100% 5 0.01 NCR Luminare # MHPL 50% 43 0.13 Be
Slide 19: Cash Flow Potential
Cash Flow Potential Value Particulars ( Rs. Cr) Ongoing & Completed Sales completed in ongoing projects 1350 Projects Less : Amount collected from sales 433 Net amount to be collected on completed sales (A) 917 Estimated sales from finished goods & balance inventory in ongoing projects # 1084 Less:
Slide 20: Integrated Cities & Industrial Clusters Update
Integrated Cities & Industrial Clusters Update 19
Slide 21: Mahindra World City, Chennai – Business Update
Mahindra World City, Chennai – Business Update • Total number of customers: 82 (67 Operational) Total Area Procured – 1524 acres | Leasable Area – 1145 acres • 0.78 acres leased during Q1 FY21 425 425 422 420 ✓ Naviya Tech Private Ltd 298 274 SEZ DTA Resi & Social Total Leasable Area (in acres) Leas
Slide 22: Mahindra World City, Jaipur – Business Update
Mahindra World City, Jaipur – Business Update Total Area Procured – 2913 acres | Leasable Area – 2011 acres • Total number of customers: 94 (65 Operational) • 1.7 acres leased during Q1 FY21 1026 ✓ Bhagwati Hotels and Resorts – 0.26 scres 695 ✓ Bansal Oil Mill Ltd – 1.44 acres 412 375 290 50 SEZ***
Slide 23: Creating Economic Value
Creating Economic Value Mahindra World City Chennai Mahindra World City Jaipur 12,876 12,940 40,000 40,000 11,334 39,500 39,500 10,230 8,300 38,000 10,202 11,428 12,683 12,871 2,389 1,245 1,311 1,552 1,281 404 FY17 FY18 FY19 FY20 Q1 FY20 FY17 FY18 FY19 FY20 Q1 FY21 Exports (Rs. Crs.)* Employment (Di
Slide 24: Industrial Parks – Origins, Ahmedabad & North Chennai
Industrial Parks – Origins, Ahmedabad & North Chennai 340 289 Area in acres 221 209 38 0 Ahmedabad North Chennai Gross Area Leasable Area* Leased Area Ahmedabad Project Details: (Ongoing) North Chennai Project Details: (Ongoing) – SPV Name: MIPPL – SPV Name: MIPCL – Location: Village Jansali, on NH
Slide 25: Recurring Rental Income
Recurring Rental Income Recurring Income & Expenses (Rs. Crs) Evolve, MWCJ 22 19* 18 17 Total area 0.431 msft 11 Area leased 0.375 msft 10 8 9 7 Mahindra Towers, Delhi Total area 0.056 msft Income Expenses Income Expenses Income Expenses Income Expenses Income Expenses Q1 FY20 Q2 FY20 Q2 FY20 Q4 FY2
Slide 26: Financial Update
Financial Update 25
Slide 27: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated ▪ Statement of Profit and Loss All figures in Rs. Crs Particulars Q1 FY21 Q4 FY20 Q1 FY20 FY20 Income Income from Operations 14.3 101.4 106.2 610.9 Other Income 7.8 9.4 14.1 35.0 22.1 110.8 120.3 645.9 Expenditure Operating Expenses 5.8 93.5 65.6 483.0 Employee
Slide 28: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated ▪ Balance Sheet All figures in Rs. Crs EQUITY & LIABILITIES Q1 FY21 FY 20 ASSETS Q1 FY21 FY 20 Property, Plant and Equipment 9.2 11.0 Equity Share capital 51.4 51.4 Capital work-in-progress 12.3 12.2 Other Equity 1,629.8 1,649.9 Investment Property 20.8 20.9 Ne
Slide 29: Key Highlights
Key Highlights Total Income (Rs. Crs) Operating Income (Rs. Crs) 330 324 120 111 106 101 85 79 22 14 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 EBITDA (Rs. Crs) and EBITDA Margin PAT (Rs. Crs) and PAT Margin 40 20% 16% 6% 7% 20 0% 13 16 19 20 6 20 10.7% 2 15.0% 0
Slide 30: Key Highlights
Key Highlights Gross Debt Equity Ratio Net Debt Equity Ratio 0.07 0.05 0.03 0.16 0.02 0.14 0.13 0.12 0.10 -0.03 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Interest Rate 9.07% 8.85% 8.73% 8.66% 8.24% Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Interest rate has been c
Slide 31: Residential and IC & IC Business Performance
Residential and IC & IC Business Performance 30
Slide 32: Residential and IC&IC Business Performance
Residential and IC&IC Business Performance All figures in Rs Crs unless specified Residential * IC & IC Particulars Q1 FY21 Q1 FY21 Area Sold (msft) / Land Leased (acres) 0.08 2.50 Sales / Lease Income 39 8 Total Operating Income 18 24 EBIDTA -23 10 EBIDTA Margin (%) -124.9% 41.2% PAT -16.5 -3.5 PAT
Slide 33: Summary of Key Financials by Legal Entities for Q1 FY21
Summary of Key Financials by Legal Entities for Q1 FY21 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total # Entity Name Interest Income EBIDTA PAT Debt Net Worth MLDL 100.0% 11.2 (12.5) (12.1) 139.4 1,484.3 MHPL^ 50.0% 7.9 (0.1) (2.2) 113.6 424.4 MBDL 100.0% 2.5 (0.5)
Slide 34: Annexures
Annexures 33
Slide 35: Structure Overview
Structure Overview Note: Overview includes asset owning SPVs only. Shareholding percentage are based on common equity capital in SPVs as on December 2019. Numbers are rounded to the nearest percentage. # MIPPL is a strategic partnership between MLDL and IFC. 34
Slide 36: Management Structure
Management Structure Non-Executive Chairman Arun K Nanda Managing Director & CEO Arvind Subramanian Sr.GM – Business Chief Project Officer- Chief Project Officer- Chief People Officer Business Head – West Chief of Design Chief Strategy Officer Development Happinest Resi+IC&IC Ashvin Amar Deepak Krit
Slide 37: Completed Projects
Completed Projects Area Area Area Area Location Name of the Project Location Name of the Project (mn sqm) (msft) (mn sqm) (msft) Mumbai Eminente 0.05 0.58 NCR Aura 0.13 1.36 Splendour 0.07 0.78 Luminare I # 0.03 0.37 Vivante 0.01 0.16 Chloris 0.04 0.39 Mahindra Park 0.02 0.19 Central Park 0.11 1.17
Slide 38: Geographic presence of residential business
Geographic presence of residential business Total (msft) Mid-Premium Happinest Completed*: 16.47 1.00 Ongoing**: 2.18 1.42 Forthcoming**: 3.52 0.71 Note: All figures in msft of Saleable / Leasable area Land Inventory**: 10.44 – Total: 32.61 3.13 Completed area includes 1.03 msft of Commercial develo
Slide 39: Glossary
Glossary Classification of projects is as under: a. Completed: projects where construction has been Actis Actis GP LLP completed and occupancy certificates have been DTA Domestic Tariff Area granted by the relevant authorities HDFC HDFC Capital Affordable Real Estate Fund-1 Capital b. Ongoing: proje
Slide 40: Disclaimer
Disclaimer ▪ This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Develo
Slide 41: Thank You
Thank You Investor Relations Contact Mr. Vimal Agarwal Mr. Sumit Kasat Chief Financial Officer General Manager – Finance & Investor Relations Phone : +91-22-67478660 Phone : +91-22-67478645 Email: agarwal.vimal@mahindra.com Email: kasat.sumit@mahindra.com Mahindra Lifespace Developers Limited CIN L4
Mahindra Lifespace Developers — Q1 FY21 Earnings Presentation on 6ix