41 slides from Mahindra Lifespace Developers's earnings presentation, Oct 22, 2019
Slide 1: Transforming Urban Landscapes – Revised Investor Presentation filing letter
TRANSFORMING URBAN LANDSCAPES FOR mal,&ndra LIFESPACES YEARS 22"' October, 2019 BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Sandra Kurla Complex, Dalal Street, Sandra (East) Mumbai - 400 001 Mumbai - 400 051 Listing: http://!isti
Slide 2: Investor Presentation – Q2 FY20
Artist’s impression of ‘CENTRALIS’ @ Pune Investor Presentation – Q2 FY20 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: Key Highlights – Q2 FY20
Key Highlights – Q2 FY20 o Centralis (0.34 msft) fully sold out in less than six months of launch o Attained collections of Rs. 258 Crs and handed over 258 units. Residential * o Completed 0.28 msft of development area in Vivante (Mumbai) & Bloomdale (Nagpur) o Achieved gross sales of 0.19 msft valu
Slide 6: Financial Highlights
Financial Highlights All figures in Rs. Crs For MLDL Consolidated Q2 FY20 Q1 FY20 Q2 FY19 H1 FY20 H1 FY19 (As per IND AS) Total Income 330 120 94 450 270 EBIDTA** 20 19 53 39 96 PAT 16 13 41 29 68 For MLDL Consolidated H1 FY20 FY19 (As per IND AS) Net Debt 44 -66 Net Worth 1926 1930 Net Debt Equity
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 3.12 Gross Area Gross Area Footprint** 22.13 Footprint** 4437 626 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 1.38 1.40 1,100 1.18 1.16 1,023 1.20 900 836 0.90 1.00 700 709 0.80 611 500 536 0.60 300 0.40 100 0.20 (100) FY15 FY16 FY17 FY18 FY19 - Sales Value (Rs. Crs) Saleable Area (msft) Launches* msft 2.43 0.99 0.58 1.17 1.55 Compl~ etions* msft 1.28 3.29 0.9
Slide 10: Sales – Quarterly Trend
Sales – Quarterly Trend 662 0.65 350 316 407 0.40 0.35 209 256 179 215 0.22 0.19 120 106 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20* Sales Value (Rs. Crs) Units Sold Saleable Area (msft) Launches Lakewoods I Palghar 1 (Ph IV) Centralis Bloomdale IVD Avadi V Bloomdale IVA & IVC Windchimes I Antheia IIIA
Slide 11: Sales - City and Price Segment wise
Sales - City and Price Segment wise Q2 FY20 City-wise Sales (Volume) Q2 FY20 City-wise Sales (Value) 0% 0% 11% 17% MMR MMR 26% Pune 31% Pune Nagpur Nagpur NCR 28% NCR 40% 13% Chennai Chennai 10% Bengaluru Bengaluru 10% 15% Q2 FY20 Price Segment-wise Sales (Volume) Q2 FY20 Price Segment-wise Sales (V
Slide 12: Operating Metrics
Operating Metrics Collections & Construction Spend (Rs. Crs) Completions & Launches (msft) 301 1.0 249 258 234 195 0.5 0.4 103 0.3 0.28 82 83 62 61 0.2 0.1 0.16 0 0 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Customer Collections Construction Spend Completions Lau
Slide 13: Project Portfolio
Project Portfolio Saleable Area (msft) # Location Ongoing Forthcoming Land Inventory MMR** 0.69 2.10 0.94 Pune 0.50 0.68 - Nagpur 0.71 - - NCR* 0.41 0.37 - Bengaluru 0.43 0.74 - Chennai 0.59 1.19 9.50 Total 3.32 5.09 10.44 Total Completed Development – 16.85*** msft * NCR includes Delhi, Gurgaon and
Slide 14: Summary of Ongoing and Forthcoming Projects
Summary of Ongoing and Forthcoming Projects All figures in msft 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 Sakinak
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 Villa
Slide 16: Summary of Ongoing Projects
Summary of Ongoing Projects Launched PTD Area PTD Sales RERA Location Project Name 1 Sold % Completion** Value Completion Development (msft) (msft) (Rs. Cr) Date*** MMR Roots 0.14 0.09 43% 114.1 Sep-22 Vicino* 0.07 - 0% - - Happinest Palghar 1 - I 0.14 0.12 67% 37.1 Dec-20 Happinest Palghar 1 - II 0
Slide 17: Forthcoming Projects
Forthcoming Projects Est. Saleable Area Segment Location Name of the Project msft Subsequent Phases of Existing Projects MMR Vicino* 0.19 MMR Serenes 0.09 Mid & Premium Residential NCR Luminare # 0.37 Aqualily 0.07 Chennai Lakewoods 0.62 Affordable Housing Chennai Happinest Avadi 0.10 TOTAL - Subseq
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% 127 0.06 MMR Vivante MLDL 100% 1 0.00 Pune Antheia MLDL 100% 25 0.04 Nagpur Bloomdale MBDL 100% 7 0.01 NCR Luminare # MHPL 50% 43 0.13 B
Slide 19: Cash Flow Potential
Cash Flow Potential Value Particulars ( Rs. Cr) Ongoing & Completed Sales completed in ongoing projects 1134 Projects Less : Amount collected from sales 491 Net amount to be collected on completed sales 644 Estimated sales from finished goods & balance inventory in ongoing projects # 1073 Less: Esti
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: 80 (66 Operational) Total Area Procured – 1524 acres | Leasable Area – 1145 acres • Leased 0.2 acres during Q2 FY20 425 425 422 420 ✓ Fujitech India Pvt Ltd (DTA) 0.04 acres ✓ Segoo Infra P Ltd (DTA) 0.17 acres 298 272 SEZ D
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: 91 (58 Operational) • Leased 7 acres during Q2 FY20 1026 ✓ RS Warehousing (DTA): 4.44 acres 695 ✓ BSM Developers (DTA): 1.64 acres ✓ Vetracare Private Limited (MP
Slide 23: Creating Economic Value
Creating Economic Value Mahindra World City Chennai Mahindra World City Jaipur 39,500 39,500 39,500 11,974 11,334 10,230 38,000 38,000 8,396 8,300 9,359 10,202 11,428 12,683 2,959 1,128 1,245 1,311 1,552 848 FY16 FY17 FY18 FY19 Q1 FY20 FY16 FY17 FY18 FY19 H1 FY20 Exports (Rs. Crs.)* Employment (Dire
Slide 24: Industrial Parks – Origins, Ahmedabad & North Chennai
Industrial Parks – Origins, Ahmedabad & North Chennai 340 286 Area in acres 221 206 30 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 Evolve, MWCJ Recurring Income & Expenses (Rs. Crs) 25 21 22 21 20 20 Total area 0.431 msft 20 15 12 Area leased 0.375 msft 9 9 9 10 8 Mahindra Towers, Delhi 5 Total area 0.056 msft 0 Income Expenses Income Expenses Income Expenses Income Expenses Income Expenses Q2 FY19 Q3 FY
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 Q2 FY20 Q1 FY20 Q2 FY19 H1 FY20 H1 FY19 FY19 Income Income from Operations 324.5 106.2 80.2 430.7 234.2 592.8 Other Income 5.4 14.1 13.7 19.5 35.5 61.0 329.8 120.3 93.9 450.1 269.6 653.9 Expenditur
Slide 28: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated Balance Sheet All figures in Rs. Crs EQUITY & LIABILITIES Q2 FY20 FY 19 ASSETS Q2 FY20 FY 19 Property, Plant and Equipment 14.0 7.6 Equity Share capital 51.4 51.4 Capital work-in-progress 11.2 9.8 Other Equity 1,874.7 1,878.2 Investment Property 21.2 21.4 Netwo
Slide 29: Key Highlights
Key Highlights Total Income (Rs. Crs) Operating Income (Rs. Crs) 330 324 247 234 137 124 120 106 94 80 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 EBITDA (Rs. Crs) and EBIDTA Margin PAT (Rs. Crs) and PAT Margin 41 57% 44% 31 53 21 38 16 25 13% 13 19 20 18% 16% 15%
Slide 30: Key Highlights
Key Highlights Gross Debt Equity Ratio Net Debt Equity Ratio 0.13 0.12 0.12 0.12 0.02 0.10 0.01 0.00 -0.03 -0.03 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Interest Rate 9.08% 9.07% 8.96% 8.85% 8.84% Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Interest rate has been
Slide 31: Residential and IC & IC Business Performance
Residential and IC & IC Business Performance 30
Slide 32: Summary of Key Financials by Legal Entities for Q2 FY20
Summary of Key Financials by Legal Entities for Q2 FY20 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% 293.0 32.1 29.8 165.1 1,761.2 MHPL^ 50.0% 23.2 3.0 (3.7) 136.6 611.4 MBDL 100.0% 33.3 5.3 3.8 # 6
Slide 33: Summary of Key Financials by Legal Entities for H1 FY20
Summary of Key Financials by Legal Entities for H1 FY20 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% 392.1 47.4 39.5 165.1 1,761.2 MHPL^ 50.0% 117.1 14.1 (4.6) 136.6 611.4 MBDL 100.0% 36.0 5.7 3.9 #
Slide 34: Annexures
Annexures 33
Slide 35: Structure Overview
Structure Overview Mahindra & Mahindra Limited 51% Mahindra Lifespace DevelopersLimited 51% 100% 75% 74% 89% 74% 100% 100% 26% MHDL MBDL MHPL MITL MWCDL MWCJL MIPPL # KTL 60% 40% 49% 25% 100% MIPCL 11% 26% 40% HDFC Capital Actis MRDL Sumitomo TIDCO RIICO Residential Intergrated Cities & Industrial C
Slide 36: Management Structure
Management Structure Non-Executive Chairman Arun K Nanda MD & CEO - MLDL CEO - Happinest Sangeeta Prasad Arvind Subramanian Mid-Premium Corporate Integrated Cities & Industrial Clusters Happinest Residential Chief Business Chief Legal Officer and Business Head – MWC Business Head – MWC Development O
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 0.57 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*: 15.87 0.97 Ongoing**: 2.68 0.57 Forthcoming**: 3.58 1.57 Note: All figures in msft of Saleable / Leasable area Land Inventory**: 10.44 – Total: 32.57 3.12 Completed area includes 1 msft of Commercial developme
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. Sumit Kasat General Manager – Finance & Investor Relations Phone : +91-22-67478645 Email: kasat.sumit@mahindra.com Mahindra Lifespace Developers Limited CIN L45200MH1999PLC118949 th 5 Floor, Mahindra Towers, Worli, Mumbai - 400 018. Tel: 022 6747 8600/ 6747 8