Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Q2 FY2024 Earnings Presentation
39 slides from Mahindra Lifespace Developers's earnings presentation, Oct 27, 2023
Slide 1: Exchange intimation letter under Regulation 30(2)
27th October, 2023 To, BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai 400051 Listing: http://listing.bseindia.com Listing: https://neaps.nseindia.com/NEWLIST
Slide 2: Investor Presentation Q2&H1 FY2024
Happinest Kalyan Investor Presentation Q2&H1 FY2024 Actual Image Artist’s Impression Actual Image
Slide 3: Disclaimer
DISCLAIMER This presentation and the accompanying slides ("Presentation") have been prepared by “Mahindra Lifespace Developers Limited” ("Company"), solely for purposes of information and do not constitute any offer, recommendation or invitation to purchase or subscribe to any securities and shall n
Slide 4: MLDL Overview
Mahindra Lakewoods MLDL Overview Actual Image 2
Slide 5: The Mahindra Group
THE MAHINDRA GROUP 1.75 Lac Cr 260,000+ 100+ 20+ GROUP TURNOVER EMPLOYEES COUNTRIES INDUSTRIES India’s number 1 SUV manufacturer by revenue Pioneer unique IC&IC business and residential market share; strong pipeline of EV products developments World’s largest tractor company by volume Number 1 times
Slide 6: Mahindra Group created significant value in the last two decades; MLDL a key priority
Mahindra Group created significant value in the last two decades; MLDL a key priority for the Group Market cap of M&M Limited (Rs. kCr.) +45 Mahindra Lifespaces is identified 144 as a Growth Gem by Mahindra Group +57 100 Mahindra Group fully committed to support MLDL’s growth aspirations +42 MLDL pl
Slide 7: MLDL at a Glance
MLDL AT A GLANCE Committed to transforming India’s urban landscape through its Residential and IC&IC developments Mahindra Lifespaces Residential IC&IC 25+ years Of Legacy 49 Integrated Cities Projects Delivered and Ongoing Presence in Chennai and Jaipur 650+ Employees 34.46 msft Industrial Clusters
Slide 8: Accolades and Sustainability
ACCOLADES AND SUSTAINABILITY We have been recognized in many areas i.e. Top Builder, Great Place to Work, Sustainability, etc. Accolades Sustainability Achievements • ‘India’s Top Builder’ award conferred by Construction • MLDL has a 100% Green certified portfolio since 2013; World (2023) first real
Slide 9: Stock Performance and Drivers
STOCK PERFORMANCE AND DRIVERS Stock generated 92% CAGR over the past 3 years Shareholding Pattern (%) BSE REALTY MAHLIFE 16.8% Mahindra Group FII 20.2% 51.2% MF 11.9% Others 29-Sep-20 29-Sep-21 29-Sep-22 29-Sep-23 Key Drivers Key Institutional Investors Scale-up in business development and pre-sales
Slide 10: Growth Strategy
Growth Strategy Bold ambition Drive profitable growth to 8K - 10K Cr sales by 2028 Leader in customer centricity 1 Well-engineered portfolio choices Clearly articulate “where to play” choices capturing - Geography, Customer segments, Products, Project size, 2 Robust acquisition engine Systematically
Slide 11: Growth Roadmap
GROWTH ROADMAP Rs. 8,000 -10,000 cr Vision to grow >5 times by 2028 Residential + IC & IC Rs. 2,268 cr Rs. 3,000 cr Rs. 824 cr 2021 2023 2025 2028 Residential IC & IC Focus Projects with 3-6 Unlock Thane Accelerated Origins Origins Pune Pursue Markets to be GDV upwards land land parcel leasing Ahmed
Slide 12: MLDL Residential
Mahindra Bloomdale MLDL Residential Actual Image 10
Slide 13: Residential – Structure Overview
RESIDENTIAL – STRUCTURE OVERVIEW M&M 51% MLDL 100% 73.7% 51% 89% MBDL MHPL MHDL MWCDL* Lakewoods Bloomdale Happinest Palghar Happinest MWCC Luminare Nestalgia Happinest Kalyan Aqualily Lakefront Estates 26.3% 49% 11% Actis HDFC Capital TIDCO Note: Includes assets owning SPVs only. Shareholding %ages
Slide 14: MLDL Highlights - Operational
MLDL HIGHLIGHTS - OPERATIONAL RESIDENTIAL** Launched 0.47 msft saleable area at Tathawade phase 3 in Pune Forayed into plotted development with the launch of Lakefront estates 0.37 msft in Chennai 0.68 msft Sales Volume 0.47 msft 1.09 msft Sales Volume 0.84 msft (RERA Carpet Area: 0.55 msft) (RERA C
Slide 15: Residential - Scale of Operations
RESIDENTIAL - SCALE OF OPERATIONS MLDL is pioneering development of green homes and thoughtfully designed living spaces Total Premium Residential Value Homes Total Total Development Footprint 5.72 msft 34.46 msft 28.74 msft Completed Development 2.04 msft 20.40msft 18.36 msft Ongoing 14.06 msft and
Slide 16: Residential - Annual Trend
RESIDENTIAL - ANNUAL TREND Sales Value (Rs. cr) Sales Volume (msft) Collections (Rs. cr) Construction Outflow (Rs. cr) 1812 1153 1165 1023 1028 963 930 758 670 695 2.23 1.69 331 361 374 289 241 1.31 1.07 1.28 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Launches (msft) Completions (msft) 1.84 3
Slide 17: Residential - Quarterly Trend
RESIDENTIAL - QUARTERLY TREND Sales Value (Rs. cr) Sales Volume (msft) Collections (Rs. cr) Construction Outflow (Rs. cr) 450 455 0.80 399 361 345 304 304 311 286 276 0.68 0.60 0.61 0.40 136 122 0.47 0.49 93 113 0.42 75 0.20 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 0.00 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY2
Slide 18: Residential - Project Portfolio - Ongoing Projects
RESIDENTIAL-PROJECT PORTFOLIO-ONGOING PROJECTS Premium Residential Total Launched Completed Ongoing Sales Value Area Sold Area Sold Completion % Location Project Name Development Development Development Development (Rs. cr) A B C of C D of D of D of D Vicino 0.27 0.27 0.08 0.08 0.19 0.19 334 85% Alc
Slide 19: Residential - Forthcoming Projects
RESIDENTIAL - FORTHCOMING PROJECTS Premium Residential Value Homes Future Development Future Development Location Project Name Location Project Name (msft) (msft) Nestalgia 0.02 Happinest Palghar2 Ph 2 0.18 Pune Mahindra Citadel 2.26 MMR Happinest Kalyan2 Ph 2 0.53 Aqualily 0.07 Total 0.71 Chennai L
Slide 20: Residential - Ready to Move Inventory
RESIDENTIAL - READY TO MOVE INVENTORY Location Project Name Balance units to sell Pune Centralis 2 Lakewoods 1 Chennai Aqualily 2 Bloomdale 1 Happinest Boisar 55 MMR Meridian (Alibaug) 5 Happinest Kalyan1 Ph1 48 Happinest Palghar1 78 TOTAL 192 18 Note: All figures correspond to MLDL and associates,
Slide 21: Residential - Sustainable Future Cash Flows
RESIDENTIAL - SUSTAINABLE FUTURE CASH FLOWS Ongoing Projects Amount Estimated Cash Flows (Rs. cr) Sold Units and Estimated Sales ^ 5283 Less: Amount Collected of Sold Units 1792 Less: Estimated Construction Cost # 2283 Net amount to be collected (A) 1208 Future Phases (to be launched) Amount Estimat
Slide 22: MLDL IC & IC
MWC Jaipur MLDL IC & IC Actual Image 20
Slide 23: IC & IC - Structure Overview
IC & IC - STRUCTURE OVERVIEW M&M 51% MLDL 100% 74% 89% 100% KTL MWCJL* MWCDL 60% MIPCL MIPPL* Origins Pune MWC Jaipur MWC Chennai Origins Chennai Origins Ahmedabad 26% 11% 40% RIICO TIDCO Sumitomo Note: Overview includes assets owning SPVs only. Shareholding %ages are rounded to nearest %age and bas
Slide 24: MLDL Highlights - Operational
MLDL HIGHLIGHTS - OPERATIONAL INTEGRATED CITIES & INDUSTRIAL CLUSTERS Q2 FY2024 H1 FY2024 ▪ 9.9 acres leased to 6 customer for Rs. 32.2 cr ▪ 12.8 acres leased to 6 customers for Rs. 46.7* cr ▪ MWC Chennai: Leased 1.4 acres to 2 customer ▪ MWC Chennai: Leased 4.3 acres to 2 customers for Rs. 7.4 cror
Slide 25: IC & IC - Scale of Operations
IC & IC - SCALE OF OPERATIONS Pioneer in this business with pan India presence across Golden Quadrilateral and Delhi-Mumbai Industrial Corridor Integrated Cities Industrial Clusters MWC MWC Origins Origins Chennai Jaipur Distance Chennai Ahmedabad Distance from from 35 Km 60 Km 20 Km 75 Km City City
Slide 26: IC & IC - In Detail
IC & IC - IN DETAIL MWC, Chennai Origins, Chennai Leasable Area*: 1145 acres Unleased Inventory: 91 acres 307 Gross Area 229 Leasable Area* 1054 15 Leased Area 133 76 91 Leased Unleased MWC Commercial MWC Residential Acres MWC, Jaipur Origins, Ahmedabad Leasable Area*: 1917 acres Unleased Inventory:
Slide 27: IC & IC - Details
IC & IC - DETAILS Leased Area (Acres) 157.9 Park O&M, MWC Chennai (Rs. cr) 110.6 74.3 93.1 24.1 23.4 23.3 23.9 22.1 16.6 17.4 16.7 18.3 22.8 16.4 39.6 46.4 95 46.2 71.4 15.4 15.1 24.1 23.3 28.8 1.2 2.2 15.6 12.2 FY19 FY20* FY21* FY22 FY23 FY19 FY20 FY21 FY22 FY23 MWC Chennai MWC Jaipur Origins Chenn
Slide 28: IC & IC - Marquee Clientele
IC & IC - MARQUEE CLIENTELE Focus on accelerating leasing across all locations MWC Chennai MWC Jaipur 86 customers (63 operational) 131 customers (77operational) Infosys Campus BMW Central Avenue JCB DTA Zone Infosys Circle Origins Chennai Origins Ahmedabad 12 customers (3 operational) NH Access Pla
Slide 29: Land Inventory - Assets with Deep Value
LAND INVENTORY - ASSETS WITH DEEP VALUE Land Name Location Gross Area (acres) Development Plan # Land conveyance completed. Thane (Ghodbundar Road) MMR 68 Planned as Mixed-use Development. Murud, Raigad MMR 1,291 Under study & evaluation stage. Planned to be developed as Origins, Pune. OP (Origins P
Slide 30: MLDL Financials
Mahindra Aqualily MLDL Financials Actual Image 28
Slide 31: Financial - Highlights
FINANCIAL - HIGHLIGHTS (Rs. cr, unless specified) CONSOLIDATED RESULTS Q2 FY24 Q1 FY24 Q2 FY23 H1 FY24 H1 FY23 FY23 Total Income 25.7 110.1 73.8 135.8 191.2 659.6 EBIDTA* -26.4 -6.4 -8.5 -32.8 45.1 61.0 Profit / (Loss) Before Tax & Share in Net Profit / (Loss) of Associates -30.3 -38.3 -41.1 -68.6 -
Slide 32: Financials - Consolidated Profit & Loss Account
FINANCIALS-CONSOLIDATED PROFIT & LOSS ACCOUNT (Rs. cr, unless specified) PROFIT & LOSS STATEMENT Q2 FY24 Q1 FY24 Q2 FY23 H1 FY24 H1 FY23 Income from Operations 17.8 98.0 69.8 115.8 164.3 Other Income 7.9 12.0 4.0 19.9 26.8 Total Revenues 25.7 110.1 73.8 135.8 191.2 Operating Expenses 9.7 96.5 64.8 1
Slide 33: Financials - Consolidated Balance Sheet
FINANCIALS - CONSOLIDATED BALANCE SHEET (Rs. cr, unless specified) EQUITY & LIABILITIES Q2 FY24 FY23 ASSETS Q2 FY24 FY23 Equity Share Capital 155.0 154.7 Property, Plant and Equipment 12.4 13.8 Other Equity 1,595.1 1,651.1 Right of Use Assets 5.5 2.8 Net Worth 1,750.0 1,805.8 Capital Work-In-Progres
Slide 34: Financials - Segment Performance
FINANCIALS - SEGMENT PERFORMANCE (Rs. cr, unless specified) Residential IC & IC SEGMENT RESULTS Q2 FY24 H1 FY24 Q2 FY24 H1 FY24 Area Sold (msft) / Land Leased (acres) 0.68 msft 1.09 msft 9.9 acres 12.8 acres Sales / Lease Income 455 800 34 47 Income from Operation 171 277 53 85 Other Income 11 25 4
Slide 35: MLDL Leadership
Mahindra Roots MLDL Leadership Actual Image 33
Slide 36: MLDL Leadership | Directors
MLDL LEADERSHIP | DIRECTORS Mr. Ameet Hariani Dr. Anish Shah Mr. Amit Kumar Sinha Chairman and Non-Executive, Managing Director & Chief Executive Non-Executive Independent Director Non-Independent Director Officer • Holds master’s degree in Law from the Mumbai • Ph.D. - Carnegie Mellon’s Tepper Busi
Slide 37: MLDL Leadership | Management
MLDL LEADERSHIP | MANAGEMENT Ashvin Iyengar Jitesh Donga Parveen Mahtani Chief Business Chief of Design Chief Legal Officer Development & Liasioning Officer Ameet Hariani Non-Executive Chairman Rajaram Pai Sudharshan KR Tanmoy Roy Chief People Chief Business Chief Project Officer Officer - Industria
Slide 38: Thank You
Thank You Investor Relations Contact Mr. Rabindra Basu Head Investor Relations Email: BASU.RABINDRA@mahindra.com Mahindra Lifespace Developers Limited CIN L45200MH1999PLC118949 5th Floor, Mahindra Towers, Worli, Mumbai - 400 018. Tel: 022 6747 8600/ 6747 8601 | Fax: 022 2497 5084 For more details vi
Slide 39: Classification of projects
Classification of projects is as under: a. Completed: projects where b. Ongoing: projects where (i) all c. Future Phases: projects in respect of d. Land inventory: land in which any construction has been title or development rights, or which (i) all title or development rights of the Company/subsidi
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