Ganesh Housing Limited · NSE:GANESHHOU
Ganesh Housing — Q3 FY24 Earnings Presentation
36 slides from Ganesh Housing's earnings presentation, Jan 17, 2024
Slide 1: Exchange filing cover letter for Q3 FY24 earnings presentation
ISO 9001 :2015 I ISO 14001 :2015 ISO 45001 :2018 REF.NO./GHCL/AHMD/2023-2024/363B DATE: JANUARY 17, 2024 To To BSE Limited National Stock Exchange of India Ltd. Corporate Relation Department Exchange Plaza, Phiroze Jeejeebhoy Towers Plot No. C/1, G Block Dalal Street, Bandra-Kurla Complex Mumbai - 4
Slide 2: Ganesh Housing Q3FY24 Earnings Presentation
GANESH HOUSING Q3FY24 EARNINGS PRESENTATION
Slide 3: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Ganesh Housing Corporation Limited (the “Company”) and no part of it shall form the basis of or be relied upon in conn
Slide 4: PE paren MM
: | Te | PE paren MM ——_ — =—
Slide 5: Q3 and 9MFY24 Key Business Highlights
Q3 and 9MFY24 Key Business Highlights Q3FY24 Revenue came in at INR Q3FY24 EBITDA growth of Q3FY24 PAT grew 232% YoY to 1,833 Mn vs INR 674 Mn in ~ 192% YoY at INR 1,386 Mn; l2 Q3FY23; 9MFY24 Revenue growth of 41% YoY Ito O o!I 9MFY24 EBITDA growth of 216% YoY INR 1,006 Mn; 9MFY24 PAT growth of 455%
Slide 6: Q3 and 9MFY24 Strong Financial Performance
Q3 and 9MFY24 Strong Financial Performance Particulars (INR Mn) Q3FY24 Q2FY24 Q3FY23 QoQ (%) YoY (%) 9MFY24 9MFY23 YoY (%) Revenue 1,833 1,641 674 12% 172% 6,188 4,378 41% EBITDA 1,386 1,221 475 14% 192% 4,777 1,514 216% EBITDA Margin (%) 75.6% 74.4% 70.5% 1.2% 5.1% 77.2% 34.6% 42.6% PBT 1,356 1,196
Slide 7: Capital Structure Significantly Strengthened
Capital Structure Significantly Strengthened o Substantial progress in debt reduction has been achieved since fiscal year 2019, a period marked by challenges within the company and turmoil in the real estate sector. o As of March 2023, the company is now debt-free and anticipates robust cash inflows
Slide 8: Groundbreaking Ceremony for Malabar Retreat: Plan Approval in Progress, Launch Targeted for Q4FY24
Groundbreaking Ceremony for Malabar Retreat: Plan Approval in Progress, Launch Targeted for Q4FY24 GANESH~ !.9.Y.!!!§ ~ 7
Slide 9: Ahmedabad: A Key Real Estate Hub in Gujarat
Ahmedabad: A Key Real Estate Hub in Gujarat Launches and Sales Trends • Key Market of Gujarat m Highly Affordable 20,500 15,500 - Launches (units) - Sales (units) - INR per sq m 3,100 3,000 Ahmedabad draws 40% of Gujarat's real estate investments, contributes In 2023, Ahmedabad emerged as the most a
Slide 10: What We Have Achieved And What's Next
What We Have Achieved And What’s Next Particulars Completed Projects Ongoing Projects Planned Projects No. of projects 21 2 3 Residential - 1 Residential – (8 phases) Residential - 17 Type of projects Commercial - 1 (Million Minds Commercial – (6 phases) Commercial – 4 Phase 1) Township – (5 phases)
Slide 11: Upcoming Commercial Projects: Robust Annuity Income
Upcoming Commercial Projects: Robust Annuity Income Construction Estimated Lease Estimated Project Expected Project Project Location Area (Mn. Sq. Ft.) (INR Cr/Annum) Cost (INR Cr) Timelines Million Minds (IT SEZ) Phase 1 1.3 72 285 H1FY24 - H2FY26 (Ongoing) Phase 2 1.3 72 285 H1FY25 - H2FY27 Phase
Slide 12: Upcoming Residential Projects: Strong Cashflow Visibility
Upcoming Residential Projects: Strong Cashflow Visibility Saleable Area Estimated Revenue Estimated Project Expected Project Project Location (Mn. Sq. Ft.) (INR Cr) Cost (INR Cr) Timelines Millions Minds (IT SEZ) Phase 1 0.6 380 140 H2FY24 – H2FY27 Phase 2 0.6 380 140 H2FY25 – H2FY28 Phase 3 0.8 460
Slide 13: Million Minds (IT SEZ): Landmark Project in High Growing Market
Million Minds (IT SEZ): Landmark Project in High Growing Market Prime Location Favorable IT & ITeS policy ❑ State of the art, world-class infrastructure ❑ Gujarat aspires to be among the top 5 states in facilities on 64 acres of land located at a key India as far as the IT & ITeS industry is concern
Slide 14: Strategic Partnership with Tishman Speyer for Million Minds
Strategic Partnership with Tishman Speyer for Million Minds Strategic alliance for development of GHCL’s Million Minds - 1st Phase of commercial development of 1.3 Mn Sq Ft Synergistic Partnership o Collaboration for SEZ development o Lease Management o Product Innovation Superior Capabilities Inter
Slide 15: Ongoing Project Update – Million Minds (IT SEZ) Phase 1
Ongoing Project Update – Million Minds (IT SEZ) Phase 1 Million Mind Phase 1 –project update of ongoing construction work Status Expected Completion Construction Work in Progress March - 2026 ------ ■--■ ■--■ Construction Area Leasable Area 1.3 Mn. Sq. Ft. 0.85 Mn. Sq. Ft. Estimated Cost Estimated R
Slide 16: Ongoing Project Update – Million Minds Phase 1 (Site Update)
Ongoing Project Update – Million Minds Phase 1 (Site Update)
Slide 17: Ongoing Project Update - Malabar Exotica
Ongoing Project Update - Malabar Exotica 96% 100% Completed Booked Feb’24 Use of Precast Expected Delivery Construction Technology GANESH~ !.9.Y.!!!§ ~
Slide 18: Finished Project Update - Malabar County 3
Finished Project Update - Malabar County 3 100% 100% Completed Booked Delivered Use of Precast Well Ahead of Time Construction Technology GANESH~ !.9.Y.!!!§ ~
Slide 19: Malabar County 3: Project Delivered Within 2.5 Years
Malabar County 3: Project Delivered Within 2.5 Years Malabar County 3: Milestones achieved over the course of project construction and execution Oct’20 Feb’21 Feb’22 Sep’22 Feb’23 Land of 2 acres Project launched Significant progress Structure work Project completion identified and construction on c
Slide 20: Creating Landmarks - Lalita Govind Udyan, Exquisite Sanctuary Spread Across 8 Acres
Creating Landmarks - Lalita Govind Udyan, Exquisite Sanctuary Spread Across 8 Acres o Inaugurated by Shri Amit Shah, Hon'ble Union Home Minister and Shri Bhupendra Patel, Hon'ble Chief Minister of Gujarat on 30th Sep’23. o The facility is located behind Nirma University, just besides GHCL’s resident
Slide 21: Lalita Govind Udyan: Key Features
Lalita Govind Udyan: Key Features Garden Oasis: Encompassing 32,385 square meters Tranquil Lake: Serene lake brimming with 5 crore litres of crystal- clear water, a calming focal point to reconnect with nature. Miyawaki Plantation: 40,000 trees grown through the Miyawaki Plantation technique, enhanc
Slide 22: Corporate Presentation
C O R P O R A T E P R E S E N T A T I O N
Slide 23: Snapshot: A Leading Real Estate Developer in Gujarat
Snapshot : A Leading Real Estate Developer in Gujarat - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - ) ···········:······:·····-... - (,~~;) Premium Ahmedabad focused developer with strong & differentiated brand that allows leadership position ... - - - - - - - - - - - - - - - - - - -
Slide 24: Vision and Mission
Vision and Mission Content Here I VISION Easy to change colors, 52% MISSION photos and Text. “To be the most trusted, transparent, and “To continuously innovate and use the admired real estate developer” latest technology to provide high-quality spaces to our customers” “To set up and build standard
Slide 25: Our Journey So Far
Our Journey So Far Early Phase & IPO Fund Raising Robust Execution Scaling Up… (1991-2004) ) (2004-2009) ) (2009-2014) ) (2014-2020) • Bonus issue 2:1 (2006) • Delivered 17 msf. • Highest ever cash flow of INR 2,800 Mn; crossed • NSE listing in 2007. • Turnover of more than INR turnover of INR 3,000
Slide 26: Well Established Brand; Strong Transparency
Well Established Brand; Strong Transparency ✓ Ganesh Housing Corporation Limited (‘GHCL’) is the flagship company of Ganesh Group; listed since 1993 ✓ Leading residential developer across mid and higher income segment; Enviable track record of identifying several high potential locations and convert
Slide 27: Proven Execution Track Record
Proven Execution Track Record Maple Tree: Speed of execution to enhance shareholder value Feb’15 Apr’15 Apr’16 Apr’17 Jan’19 Land of ~ 10 acres Project launched Significant progress Construction work Completion identified and construction made in less than completed in two start one year towers .I I
Slide 28: Significant Land Reserves for Future Growth
Significant Land Reserves for Future Growth ✓ ~500 acres of land reserves in d strategic locations across Ahmedabad ✓ 36-40 msf of development potential ✓ Ability to take advantage of ,, • favourable market conditions by launching projects quickly without having to acquire land ✓ Rationalize land re
Slide 29: What Sets Us Apart
What Sets Us Apart Future Ready Transparent and Trustworthy Strategic Project Locations Top Quality Infrastructure Professionally Managed and Amenities Strong Brand Equity Focused on Deleveraging & Superior Reputation Innovative Planning Use of Technology – I-homes, Home Timely Delivery GANESH~ Auto
Slide 30: Strong Leadership Team
Strong Leadership Team Dipak Kumar Patel - Chairman Shekhar Patel – MD & CEO Pankaj Teraiya – President Associated with GHCL since 1991; (Projects) 01 leading the land related matters and 02 Veteran with an experience of over 26 years; leading day to day 03 BE Civil with an experience of over 28 gov
Slide 31: Strategic Priorities
Strategic Priorities Being more aggressive towards Building a team for the future, Building both commercial and retail Strengthening focused approach towards segment, widen customer base Position Internal across price points and locations team reorganization and reorientation Organization Retaining
Slide 32: Way Forward: Plan, Prepare and Proceed
Way Forward : Plan, Prepare and Proceed What we will Achieve Sustainable growth and value creation for all the stakeholders Proceed Proceed with a larger, more efficient, and Prepare collective group. The This is what drives recent consolidation our everyday has ensured creation Plan strategy; prepa
Slide 33: Consolidated Income Statement (Historical)
Consolidated Income Statement (Historical) Particulars (INR mn) FY23 FY22 FY21 FY20 FY19 FY18 Revenue 6,208 3,849 1,820 2,773 2,672 5,082 EBITDA 2,563 1,355 (377) (504) 770 2,031 EBITDA (%) 41.3% 35.2% (20.7%) (18.2%) 28.8% 39.9% Depreciation 27 20 17 21 23 26 EBIT 2,535 1,335 (394) (525) 747 2,005
Slide 34: Balance Sheet (Historical)
Balance Sheet (Historical) Particulars (INR mn) FY23 FY22 FY21 FY20 FY19 FY18 Equity Share Capital 834 834 492 492 492 492 Reserves & Surplus 10,262 7,064 4,528 5,750 6,980 8,400 Minority Interest 683 870 871 931 927 927 Shareholder’s Equity 11,779 8,768 5,891 7,173 8,399 9,819 Borrowings 36 1,377 3
Slide 35: Cash Flows and Ratios (Historical)
Cash Flows and Ratios (Historical) Particulars (INR mn) FY23 FY22 FY21 FY20 FY19 FY18 Operating Cash Flow excl. 1,862 1,341 (658) (663) (469) 1,470 WC Working Capital Changes (1,556) (931) 1,980 1,890 1,761 (717) Investment Activities 2,782 394 434 531 841 260 Financing Activities 14 (852) (1,726) (
Slide 36: Thank You
THANK YOU