Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q3 FY2024 Earnings Presentation
35 slides from Godrej Properties's earnings presentation, Feb 6, 2024
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 February 06, 2024 BSE Limited Phiroze Jeejeebhoy Tower
Slide 2: Results Presentation Third Quarter, Financial Year 2024
R E S U LT S P R E S E N T A T I O N THIRD QUARTER, FINANCIAL YEAR 2024 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY24
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 Q3 FY24 Operational Highlights 02 Q3 FY24 Financial Highlights 03 Annexure 04 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY24
Slide 5: Godrej Group
GODREJ GROUP • Established in 1897 Value Creation Track Record • $6 billion in annual revenue 22 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth • 1.1 billion people globally use a Godrej product¹ • Godrej ranks amongst the most trusted Indian brands² BSE Sensex 15% 22 •
Slide 6: Godrej Properties
GODREJ PROPERTIES • Established in 1990 • India’s largest developer by number of homes sold in FY23 • Successfully delivered ~41 million sq. ft. of real estate since Chandigarh 0.5, 1 FY 2018 NCR 39.4, 25 • ~215 million sq. ft. of saleable area across India • Differentiated asset-light business mode
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 Competitive a
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth over ~5X an identical investment into the BSE Realty Index Value Creation Track Record 14 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 10.6% 4.11 Godrej Properties 16.8% 8.75 BSE Realty Index 3
Slide 9: Agenda
AGENDA Overview 01 Q3 FY24 Operational Highlights 02 Q3 FY24 Financial Highlights 03 Annexure 04 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY24
Slide 10: Q3 FY24 Highlights
Q3 FY24 HIGHLIGHTS Ÿ GPLs highest ever quarterly sales for second quarter in a row - booking value stood at INR 5,720 crore, a YoY growth of 76%, from the sale of 4.34 million sq. ft. area. Ÿ Booking value in 9M FY24 was 106% of booking value for the entire FY23, which was GPL's best ever year prev
Slide 11: Sales Highlights
SALES HIGHLIGHTS Particulars Q3 FY24 Q3 FY23 Growth Q2 FY24 Growth 9M FY24 9M FY23 Growth Area Sold ( million sq. ft.) 4.34 4.42 -2% 5.24 -17% 11.83 9.96 19% Booking Value (INR Cr) 5,720 3,252 76% 5,034 14% 13,008 8,181 59% Customer Collections (INR Cr) 2,411 1,684 43% 2,378 1% 6,743 5,169 30% Stron
Slide 12: Sales Highlights (Contd.) - City-wise Breakdown
SALES HIGHLIGHTS (Contd.) City-wise Sales Breakdown for Q3 FY24 NCR MMR Registered booking value of INR 3,301 crore through sale of Registered booking value of INR 1,065 crore through sale of 825 units with total sales of 1.87 million sq. ft. 477 units with total sales of 0.61 million sq. ft. BENGAL
Slide 13: Project Booking
PROJECT BOOKING Particulars Booking Area (mn. sq. ft.) Booking Value (INR Cr) Q3 FY24 9M FY24 Q3 FY24 9M FY24 Godrej Aristocrat (Sector 49), NCR 1.35 1.35 2,667 2,667 Godrej Ananda, Bengaluru 0.84 0.84 574 577 Godrej Avenue 11, MMR 0.11 0.22 351 687 Godrej 101, NCR 0.24 0.24 275 275 Godrej Hillside/
Slide 14: Quarterly Sales Trend
QUARTERLY SALES TREND Quarterly Sales Value 5,720 5,034 4,051 (INR cr) 3,248 3,252 2,520 2,409 2,254 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1FY24 Q2FY24 Q3FY24 Quarterly Sales Volume 5.25 5.24 4.24 4.42 4.34 (Million sq. ft.) 2.83 2.71 2.25 Q4 FY22 Q1 FY23 Q2 FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY2
Slide 15: Business Development
BUSINESS DEVELOPMENT Added 1 new project with an estimated saleable area of 0.84 million sq. ft. and expected booking value of INR 1,250 crore in Q3FY24 Yeshwanthpur, Bengaluru • Spread across approximately 5 acres, the project will offer 0.84 million sq. ft. of premium residential development • The
Slide 16: Launch Tracker FY24
LAUNCH TRACKER FY24 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY24 New Phase Launches Planned in FY24 Launch Launch Project City Status Project City Status Area* Area* Godrej Emerald Wa
Slide 17: Update on Commercial Portfolio
UPDATE ON COMMERCIAL PORTFOLIO • Total estimated stabilized annual rental income potential of INR 1,100 crores from commercial portfolio (GPL’s share will be INR 270 crores) • In addition to already operational asset of Godrej Two, 4 out of the balance 5 projects are expected to be completed in FY20
Slide 18: FY24 Guidance vs Actual
FY24 GUIDANCE VS ACTUAL FY23 FY24 FY24 YTD Achievement Updated Particulars Actual Guidance Actual (%) Assessment* Booking Value (INR Crore) 12,232 14,000 13,008 93% Customer Collections (INR Crore) 8,991 10,000 6,743 67% Deliveries (Million Sq. Ft.) 10.47 12.50 6.5 52% Business Development (by expec
Slide 19: Sustainability – ESG Performance and CSR Impact
SUSTAINABILITY – ESG PERFORMANCE AND CSR IMPACT ESG Ratings & • Godrej Properties is added to the Leadership Index of DJSI for the year 2023 Disclosures ESG • 23 environment managers are trained as Internal EMS Auditors in Q3 by GPL Milestone Achievements • Till Q3 of FY 2023-24, 96% of GPL’s portfo
Slide 20: Agenda
AGENDA Overview 01 Q3 FY24 Operational Highlights 02 Q3 FY24 Financial Highlights 03 Annexure 04 19 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY24
Slide 21: Consolidated Financial Statements – P&L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q3 FY24 Q3 FY23 % Change Q2 FY24 % Change 9M FY24 9M FY23 % Change Total Income 524 366 43% 571 -8% 2,410 1,068 126% Adjusted EBITDA** 167 160 5% 178 -6% 662 390 70% EBITDA** 152 153 -1% 167 -9% 548 364 51% Profit before tax 95 101 -7% 1
Slide 22: Consolidated Financial Statements - Cashflow
CONSOLIDATED FINANCIAL STATEMENTS - CASHFLOW (INR Cr) Notes Particulars Q3 FY24 9M FY24 Operating cashflow Total operating cash inflow1 2,718 7,607 Operating cash outflow A Construction & related outflow -956 -2,808 Other project related outflow -964 -3,073 Total operating cash outflow -1,920 -5,881
Slide 23: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 31.12.2023 As on 31.03.2023 A Assets Unaudited Audited 1 Non Current assets a Property, Plant & Equipment 905.52 153.16 b Right-of-Use Asset 12.06 17.07 c Capital Work-in-Progress 144.23 652.44 d Investment Property 30.90 32.19
Slide 24: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 31.12.2023 As on 31.03.2023 B Equity and Liabilities Unaudited Audited 1 Equity a Equity share capital 139.02 139.01 b Other equity 9,382.98 9,125.19 c Non-controlling interest 23.04 22.95 Total Equity 9,545.04 9,287.15 2 Liabi
Slide 25: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators (INR Cr) Particulars Q3 FY24 Q3 FY23 Q2 FY24 9M FY24 9M FY23 Adjusted EBITDA / Total 31.9% 43.6% 31.1% 27.5% 36.5% Income** EBITDA / Total Income* 29.0% 41.9% 29.2% 22.7% 34.1% PBT Margin % 18.1% 27.6% 19.5% 16.6% 21.1% Net Profit Margin % # 11.9% 16.0% 11
Slide 26: Agenda
AGENDA Overview 01 Q3 FY24 Operational Highlights 02 Q3 FY24 Financial Highlights 03 Annexure 04 25 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY24
Slide 27: A. Residential Projects - West & East
A. RESIDENTIAL PROJECTS Area Annexure - West Eas1 A. Residential Proiects As on 31st Dec 2023 Total PTDArea PTD PTDOC Accounting Estimated GPLShare PTDArea PTD Booking S.No Project Name Location Asset Class Business Model Launched (mn Collection Received (mn Method Saleable Area Area (mn sq fl) Sold
Slide 28: A. Residential Projects - South
A. RESIDENTIAL PROJECTS Area Annexure - South A. Residential Projects As on 31st Dec 2023 Total PTDArea PTD PTDOC Accounting Estimated GPLShare PTDArea PTD Booking S.No Project Name Location Asset Class Business Model Launched (mn Collection Received (mn Method Saleable Area Area (mn sq ft) Sold (mn
Slide 29: A. Residential Projects - North
A. RESIDENTIAL PROJECTS Area Annexure - North A. Residential Proiects As on 31st Dec 2023 Total PTD Area PTD PTDOC Accounting Estimated GPLShare PTDArea PTD Booking S.No Project Name Location Asset Class Business Model Launched (mn Collection Received (mn Method Saleable Area Area (mn sq ft) Sold (m
Slide 30: A. Residential Projects - MMR
A. RESIDENTIAL PROJECTS Area Annexure - MMR A. Residential Proiects As on 31st Dec2023 Total GPLShare PTDArea PTDArea PTD PTDOC Accounting Estimated PTD Booking S.No Project Name Location Asset Class Business Model Area(mn sq Launched (mn Sold (mn sq Collection Received (mn Method Saleable Area Valu
Slide 31: B. Commercial Projects
B. COMMERCIAL PROJECTS i. Commercial Projects (Build to Sale) PTD Estimated GPLShare PTDArea PTDOC Accounting PTDArea PTD Booking Collection S.No Project Name Location Asset Class Business Model Saleable Area Area (mn sq Launch (mn Received (mn Method Sold (mn sq ft) Value (INR Cr) Received (INR (mn
Slide 32: 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 31 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY24
Slide 33: Press Release: Consolidated Financials for Q3 FY24 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 Q3 FY24 Results Sales Bookings grew by 76%YoY to INR 5,720 crore in Q3FY24 an
Slide 34: Press Release: Business Development and Management Comment
Business Development Added 1 group housing project in Bengaluru with estimated booking value of INR 1,250 crores, taking the 9M FY 24 count to 6 additions with an estimated booking value of INR 8,425 crores Other Highlights Collections and Net Operating Cash flow grew by 43% to INR 2,411 crore a
Slide 35: Press Release: About Godrej Properties Limited
EPS# amounted to INR 9.14 as compared to INR 5.73 # not annualised --ENDS-- 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 127- year legac