Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q4 FY23 Earnings Presentation
47 slides from Prestige Estates Projects's earnings presentation, 2023
Slide 1: Investor Presentation - Q4 & FY23
Prestige Lavender Fields PRESTIGE ESTATES PROJECTS LTD INVESTOR PRESENTATION - Q4 & FY23 www.prestigeconstructions.com
Slide 2: Agenda Q4 & FY23
2 www.prestigeconstructions.com Agenda Q4 & FY23 01 KEY HIGHLIGHTS 02 SEGMENT ANALYSIS • Our Presence • Residential • Scale of Operations • Commercial • Key Highlights • Retail • Operational Highlights • Hospitality • Financial Highlights • Property Management • Debt Profile 03 MUMBAI PROJECTS 04 MA
Slide 3: Our Presence
Our Presence 3 37 YEARS OF LEGACY NCR 12+ CITIES Ahmedabad DA1+ CRISIL GRADING Mumbai Pune Hyderabad Goa Mangalore MysoreBengaluru ICRA A+ STABLE RATING Chennai Calicut Kochi 03 www.prestigeconstructions.com
Slide 4: Scale of Operations
Scale of Operations 4 ONGOING + UPCOMING 101 PROJECTS 174 MN SFT 04 www.prestigeconstructions.com
Slide 5: Key Highlights of the Year
5 Key Highlights of the Year 05 www.prestigeconstructions.com
Slide 6: Operational Update Q4 FY23
Operational Update Q4 FY23 Sales Collections Area Sold Units Sold 38,888 ₹Mn 27,633 ₹Mn 4.00 Mn sft 2438 +19% YOY +12% YOY 27 Units / Day PG Share: 36,990 ₹Mn PG Share: 24,501 ₹Mn PG Share: 3.74 Mn sft (19% YOY) (14% YOY) (-19% YOY) Launches: 5.27 Mn Sft (+5% YOY) Completions: 1.28 Mn sft (-74% YOY)
Slide 7: Operational Update FY23
Operational Update FY23 Sales Collections Area Sold Units Sold 129,309 ₹Mn 98,055 ₹Mn 15.09 Mn sft 9,644 +25% YOY +31% YOY 26 Units / Day PG Share: 118,375 ₹Mn PG Share: 87,252 ₹Mn PG Share: 13.57 Mn sft (34% YOY) (51% YOY) (2% YOY) Launches: 26.38 Mn sft (+57% YOY) Completions: 15.68 Mn sft (+10% Y
Slide 8: FY23 Operational Analysis
FY23 Operational Analysis India FY23 Sales mn 129,309 QoQ Sales ₹ mn QoQ Collections ₹ mn % of Sales Bengaluru 76,522 (59%) 38,888 35,110 26,029 27,633 30,121 21,464 22,929 Mumbai 27,132 (21%) 25,190 Hyderabad 17,982 (14%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Kochi/ 3,705 (3%) Calicut Q4 Avg Realization psf FY23
Slide 9: Sales – Geography wise
Sales – Geography wise Top 3 Geographies Contribution FY 23 Sales 129,309 mn 76,522 27,132 FY 23 17,982 Bengaluru: 59% 3,705 2,614 Mumbai: 21% 884 470 Hyderabad: 14% Bengaluru Mumbai Hyderabad Chennai Kochi Goa Mangaluru FY 22 82,855 FY 22 Sales 103,822 mn Bengaluru: 80% Hyderabad: 10% 10,010 6,901
Slide 10: Launches
Residential Capex Launches Q4 Developable Q4 Developable Project Launched Location Project Launched Location Segment Area (Mnsf) Area (Mnsf) Prestige Clairemont Hyderabad 3.26 Nil Prestige Elm Park Bengaluru 0.54 Aston Park @TPC Bengaluru 1.35 Launches Q4 Prestige Dew Drops Bengaluru 0.11 Total Q4 5
Slide 11: Completions
Completions Residential Capex Q4 Q4 Developable Developable Project Completed Location Project Completed Location Segment Area (Mnsf) Area (Mnsf) Prestige Parkdrive Ph III Bengaluru 0.09 Prestige Summit Bengaluru Commercial 0.19 Prestige Valley Crest Bengaluru 1.01 Completions Q4 1.28 Mn sft Total Q
Slide 12: Financial Update Q4 FY23
Financial Update Q4 FY23 33.63% Revenue EBITDA PAT* EBITDA % 29,380 ₹Mn 9,880 ₹Mn 5,036 ₹Mn +18% YOY +68% YOY -47% YOY 17.14% PAT % 12 * PAT degrowth is due to exceptional items in PY www.prestigeconstructions.com
Slide 13: Financial Update FY23
Financial Update FY23 28.99% Revenue EBITDA PAT* EBITDA % 87,720 ₹Mn 25,433 ₹Mn 9,779 ₹Mn +33% YOY +46% YOY -18% YOY 11.15% PAT % 13 * PAT degrowth is due to exceptional items in PY www.prestigeconstructions.com
Slide 14: Segment Wise Results & Capital Employed
Segment Wise Results & Capital Employed Others 12M 2022-23 Office Retail Hospitality Services Residential (Note 1) Total Revenue 2,194 720 6,605 7,993 61,494 4,144 83,150 EBITDA (excluding other income) 1,408 337 2,455 1,040 11,479 4,144 20,863 EBITDA % 64% 47% 37% 13% 19% 100% 25% Depreciation 625
Slide 15: Segment Wise Results & Capital Employed
Segment Wise Results & Capital Employed Capital Employed 12M 2022-23 Office Retail Hospitality Services Residential Total Equity A 44,355 11,010 21,869 521 21,998 99,753 Debt (including ongoing capex) B 15,524 5,398 9,393 - 44,329 74,644 Debt taken for ongoing capex project C 10,145 - - - - 10,145 D
Slide 16: Debt Profile Q4 FY23
Debt Profile Q4 FY23 0.54 DEBT EQUITY RATIO Project Debt - Residential 16% & Commercial for sales ₹55,657 mn Office Space 16% 52% NET DEBT Hospitality 10.07% 16% Lease Rental Discounting AVERAGE BORROWING COST 16 www.prestigeconstructions.com
Slide 17: Segment Analysis
Segment Analysis 17 www.prestigeconstructions.com
Slide 18: Residential Segment
Residential Segment STOCK BREAKUP COMPLETED ONGOING UPCOMING Category Area (mn sft) Value(₹mn) Ongoing-Premium & Luxury Projects 0.843 24,650 • 140 PROJECTS • 37 PROJECTS • 27 PROJECTS Ongoing-Mid Income Projects 5.474 56,391 • 114 MN SFT • 48 MN SFT • 76 MN SFT Ongoing Commercial Projects 0.251 2,5
Slide 19: Ongoing Residential
Bengaluru 1 Prestige Elysian 1.11 31% 0.34 FY 24 Ongoing Residential 2 Prestige White Meadows T3 3 Prestige Fairfield 0.50 0.54 100% 27% 0.50 0.15 FY 25 FY 24 Hyderabad 4 Prestige Finsbury Park- Regent 1.81 60% 1.09 FY 24 1 Prestige Tranquil 2.24 73% 1.64 FY 25 37 48 5 Prestige Finsbury Park- Hyde 2
Slide 20: Upcoming Residential
Bengaluru Upcoming Residential 1 Prestige Glenbrook 0.66 100% 0.66 FY 24 27 76 2 Prestige Misty Waters Ph III 0.20 32% 0.06 FY 24 Hyderabad Projects mn sft 3 Prestige Countydale - Roshanara 0.21 100% 0.21 FY 24 4 Prestige Sunset Park 0.31 26% 0.08 FY 24 1 Prestige Rock Cliff 0.71 55% 0.39 FY 24 5 Pr
Slide 21: Commercial Segment
Commercial Segment COMPLETED ONGOING UPCOMING TENANTS WORKFORCE • 120 PROJECTS • 12 PROJECTS • 9 PROJECTS • 400+ • 450,000 • 40 MN SFT • 23 MN SFT • 14 MN SFT 23,717 PROJECTED ANNUITY INCOME STEP UP (₹ mn) EXIT RENTALS PG Share ₹2100 mn 15,004 ANNUITY INCOME FY28 8,894 ₹ 23,717 mn 6,973 5,800 2,100
Slide 22: Commercial Capex and Balance to Spend
Commercial Capex and Balance to Spend BALANCE TO SPEND PARTICULARS Total COC Total COC Balance COC Balance COC (PG SHARE) (PG) 450, (PG) ONGOING COMMERICAL 000 ₹62,779 mn Ongoing Commercial Capex 85,107 75,868 68,910 62,779 UPCOMING COMMERICAL ₹61,210 mn Upcoming Commercial Capex 68,287 63,266 66,11
Slide 23: Ongoing Commercial
Bengaluru Ongoing Commercial 1 Prestige Tech Cloud 2.10 86% 1.81 FY 24 12 23 2 Prestige Tech Hub 1.32 60% 0.79 FY 26 3 Prestige Tech Pacific Park 1.65 63% 1.04 FY 24 Projects mn sft 4 Prestige Tech park IV Block 3 0.15 50% 0.07 FY 24 5 Prestige Lake Shore Drive Ph I 4.02 40% 1.61 FY 25 6 Prestige Te
Slide 24: Upcoming Commercial
Upcoming Commercial 9 Projects 14 mn sft Bengaluru 1 Prestige Techzone 1.78 67% 1.19 FY 27 2 Prestige Tech park 5 0.13 100% 0.13 FY 27 3 Prestige Landmark 2.93 50% 1.46 FY 27 4 Prestige Tech Habitat 1.04 74% 1.19 FY 27 Total 5.88 3.98 Mumbai 1 Prestige 1O1 X Axis 2.59 50% 1.29 FY 27 2 Prestige 1O1 Y
Slide 25: Retail Segment
Retail Segment COMPLETED ONGOING UPCOMING • 12 PROJECTS • 2 PROJECTS • 5 PROJECTS • 9 MN SFT • 2 MN SFT • 5 MN SFT 5,659 PROJECTED ANNUITY INCOME STEP UP (₹ mn) 4,411 PG Share EXIT RENTALS ₹1,865mn 2,220 2,220 1,865 ANNUITY INCOME FY27 ₹ 5,659mn FY23 FY24 FY25 FY26 FY27 25 www.prestigeconstructions.
Slide 26: Retail Capex & Balance to Spend
Retail Capex & Balance to Spend BALANCE TO SPEND PARTICULARS Total COC Total COC Balance COC Balance COC (PG SHARE) (PG) 450, (PG) ONGOING RETAIL 000 ₹3,844 mn Ongoing Retail Capex 8,549 6,084 4,241 3,844 UPCOMING RETAIL ₹13,531 mn Upcoming Retail Capex 19,577 13,561 19,547 13,531 TOTAL ₹17,375mn To
Slide 27: Ongoing Retail Upcoming Retail
Ongoing Retail 2 Projects 2.15 mn sft Kochi | Bengaluru 1 Forum Thomsun Kochi 1.02 50% 0.51 FY 24 Upcoming Retail 2 Forum 13° North Bengaluru 1.13 100% 1.13 FY 26 5 5.46 Total 2.15 1.64 Projects mn sft Bengaluru | Hyderabad | Chennai | Kochi 1 Forum One OMR Chennai 1.96 85% 1.66 FY 27 2 Forum Neighb
Slide 28: Hospitality Portfolio (3138 Keys)
Hospitality Portfolio (3138 Keys) COMPLETED ONGOING UPCOMING • 9 PROJECTS • 6 PROJECTS • 3 PROJECTS • 1368 KEYS • 1217 KEYS • 553 KEYS 297 KEYS, BENGALURU 285 KEYS, BENGALURU 221 KEYS, NEW DELHI 558 KEYS, NEW DELHI 200 KEYS, MUMBAI (BKC) 102 KEYS | 32 KEYS, 150 KEYS, CHENNAI 128 KEYS, 360 KEYS, BENG
Slide 29: Hospitality Revenue Potential (3138 Keys)
Hospitality Revenue Potential (3138 Keys) COMPLETED ONGOING UPCOMING • 9 PROJECTS • 6 PROJECTS • 3 PROJECTS • 1368 KEYS • 1217 KEYS • 553 KEYS UNDER OPERATING CONSTRUCTION UPCOMING TOTAL Total Keys 1,368 1,217 553 3,138 Keys (PG Share) 1,211 812 329 2,351 Total Revenue p.a. 7,752 7,985 5,070 20,807
Slide 30: Hospitality Capex and Balance to Spend
Hospitality Capex and Balance to Spend BALANCE TO SPEND PARTICULARS Total COC Total COC Balance COC Balance (PG SHARE) (PG) 450, COC ONGOING HOSPITALITY (PG) 000 ₹9,876 mn Ongoing Hospitality Capex 23,335 14,134 16,160 9,876 UPCOMING HOSPITALITY ₹5,056 mn Upcoming Hospitality Capex 9,042 5,292 9,042
Slide 31: Operating Hotel Performance
Operating Hotel Performance 12MFY23 (INR) 13,665 12,795 11,319 10,202 7,677 7,785 7,131 6,631 Q1 Q2 Q3 Q4 ARR RevPAR 31 www.prestigeconstructions.com
Slide 32: Cashflows 12M and Q4 FY23
Cashflows 12M and Q4 FY23 (INR mn) Q4 FY23 12M FY 23 OPERATIONAL ACTIVITIES Inflow Residential Collection/ Commercial & Retail Rentals / Property Maintenance / Mall Operations/ Others 31,362 1,10,160 Outflow Construction Cost- Residential 11,396 42,624 LO Payments /Sales/ Marketing / Administrative
Slide 33: Property Management
182 98 Properties Maintained Projects in Pipeline 117 Mn sft 155 Mn sft INR 5,950 mn INR 10,000 mn FY 23 Future Potential Gross Revenue PROPERTY MANAGEMENT 33 33 www.prestigeconstructions.com
Slide 34: Mumbai Presence
A THE PRESTIGE CITY MULUND Mulund B PRESTIGE DAFFODILS Pali Hill A C JIJAMATA NAGAR Worli D PRESTIGE JASDAN CLASSIC Mahalaxmi E PRESTIGE OCEAN TOWERS B G Marine Lines F PRESTIGE NAUTILUS Worli F C G PRESTIGE 1O1 BKC H D BKC Residential H THE PRESTIGE (LIBERTY TOWERS) E Commercial Mahalaxmi MUMBAI PR
Slide 35: Residential - Mumbai
Residential - Mumbai Expected PEPL Share of Carpet Area Total Sale S.N o. Project Selling PG % Sales Value Mn sf value In Mn Price In Mn Ongoing Residential 1 Prestige Jasdan Classic 0.33 45,100 14,662 100 14,662 2 The Prestige City Mulund 2.13 23,000 49,027 100 49,027 Bellanza + Siesta 3 Prestige D
Slide 36: Commercial - Mumbai
Commercial - Mumbai Total PEPL Share of PEPL Projected Rental S.No Expected Total Sale Projected Project Leasable PG % Sales Value PA (in case of leasing) . Selling Price value In Mn Rent/Sf Area Mn sf In Mn In Mn Ongoing Commercial 1 The Prestige (Liberty Towers) 2.74 45,882 125,561 50 62,780 325 5
Slide 37: Land Bank
Land Bank Land Area Economic Prestige S.No. Entity Name Location (Acres) Interest Share (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi, Bengaluru 143 100% 143 2 Eden Investments Goa 74 78% 58 3 Prestige Estates Projects Ltd Perumbakam, Chennai 20 66% 13 4 The QS Company Padil, Mangaluru 17 100% 1
Slide 38: Management Team
PRESTIGE OCEAN TOWERS Mumbai MANAGEMENT TEAM • Board of Directors • Leadership Team 38 38 Artist’s Impression www.prestigeconstructions.com
Slide 39: Board of Directors
Board of Directors Irfan Razack Dr. Rezwan Razack Noaman Razack Chairman and Managing Director Joint Managing Director Whole-time Director Uzma Irfan Dr. Pangal Ranganath Nayak Biji George Koshi Jagdeesh K. Reddy Noor Ahmed Jaffer Neelam Chhiber Director Independent Director Independent Director Ind
Slide 40: Leadership Team
Leadership Team Venkat K. Narayana Nawabzada Omer Bin Jung Anjum Jung Zackria Hashim Mohmed Zaid Sadiq CEO- Prestige Group Executive Director- Hospitality Executive Director- Executive Director- Land Acquisition Executive Director- Liaison and Hospitality Interior Designs Faiz Rezwan Zayd Noaman Nay
Slide 41: Leadership Team
Leadership Team Swaroop Anish Suresh Singaravelu Jagdeep Singh Marwaha Lt Col. Milan Khurana (Retd.) Executive Director- Executive Director- Retail, CEO- Prestige Office Ventures Executive Director- HR, IT and Admin Business Development Hospitality and Business Expansion Tariq Ahmed Muhammed Ali Man
Slide 42: Thank You
PRESTIGE SANCTUARY Nandi Hills, Bengaluru Artist’s Impression Thank You For any queries, please contact, E: investors@prestigeconstructions.com Registered Office-No. 19, Brunton Road, (Off M.G Road) Bengaluru 560 025 Landmark - Trinity Metro Station T: +91 -80 –25001 248 F: + 91 –80 -25591945 Websit
Slide 43: Disclaimer
DISCLAIMER This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which ar
Slide 44: Annexures
ANNEXURES 44 www.prestigeconstructions.com
Slide 45: Exit Rentals – Commercial
EXIT RENTALS – COMMERCIAL Rent P.A Total Leasable Economic Economic S.No. Project Name (Annualised) Area Interest (%) Interest (MnSf) (Rs Mn) 1 Prestige Logistic Centre 0.39 100 0.39 85 2 Prestige Polygon 0.34 100 0.34 352 3 West Palm Developers Pvt Ltd 0.32 61 0.20 211 4 SKN Commercial 0.13 100 0.1
Slide 46: Exit Rentals - Retail
EXIT RENTALS - RETAIL Rent P.A Total Leasable Economic Economic S.No. Project Name (Annualised) Area Interest (%) Interest (MnSf) (Rs Mn) 1 Forum Sujana Mall Hyderabad 0.81 15 0.12 149 2 Forum Fiza Mall 0.66 10 0.07 65 3 Forum Vijaya Mall 0.64 8 0.05 62 4 Forum Mall Shantiniketan 0.64 10 0.06 112 5
Slide 47: Residential Projects Free Cashflows
RESIDENTIAL PROJECTS FREE CASHFLOWS Ongoing+ Completed Projects Upcoming Projects Particulars Area in Mn Sft Value in ₹ Mn % Particulars Area in Mn Sft Value in ₹ Mn Total Developable Area 80.69 Total Developable Area 76.80 Car Park Area 22.08 Car Park Area 18.56 Total Saleable Area 58.62 Total Sale
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