Ansal Properties & Infrastructure Ltd. · NSE:ANSALAPI
Ansal Properties & Infrastructure — H1 FY2012 Earnings Presentation
45 slides from Ansal Properties & Infrastructure's earnings presentation, Nov 9, 2011
Slide 1: Ansal Properties & Infrastructure Ltd. Regaining its Old Glory
Ansal Properties & Infrastructure Ltd. Regaining its Old Glory Investors’ Update – Q2 & H1FY12 November 9, 2011
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Ansal Properties & Infrastructure Ltd (the “Company”) solely for your information and for your use and may not be taken away, reproduced, redistributed or passed on, directly or indirectly, to any other person (whether within or outside your organiza
Slide 3: Contents
Contents • Industry Updates • Performance Summary • Business Model • Business Operations • Land Resources • Financials • Growth Strategy • Guidance – FY12 Ansal API – Regaining its Old Glory 3
Slide 4: Industry Updates
Industry Updates • No respite from mounting interest rates but recent monetary policy review strongly signals possible peaking of interest rates in the coming months, a sanguine indication for the sector driven by economy’s dynamics • Sincere efforts being put by respective parties to accelerate dem
Slide 5: Industry Updates (Contd..)
Industry Updates (Contd..) • Land acquisition bill if enforced will make the land acquisition expensive both for developers and government (for building infrastructure); resultant - end users impacted in terms of higher prices • Clear land titles, easily convertible and developable hassle-free land
Slide 6: Performance Summary
Performance Summary Operational (Y-o-Y) 12 1250 1203 • Sale Value of area sold in H1FY12 stood at ~Rs. 1200 11.43 13,434mn 13% 11.5 1150 INR/Sq.Ft. 1094 11.16 mn.sq.ft. 1100 • Sold an area of 11.16mn.sq.ft. in H1FY12 2.4% 11 1040 1050 11.00 • Sale Value of area sold in Q2FY12 stood at ~Rs. 10.5 1000
Slide 7: Business Model
Business Model 7
Slide 8: Value Creation Model
Value Creation Model Land Plot Sales & Township Ongoing Aggregation Built-up Sales Development Monetization Process • Agricultural land • After master planning • High density • FSI sale and JV purchase and licensing, initiate development opportunities to develop • Aggregation process the sale of ind
Slide 9: Townships at Various Stages
Townships at Various Stages * Land Plot Sales & Township Ongoing Aggregation Built-up Sales Development Monetization Sushant Golf City Phase II Sushant Golf City - Phase I Esencia (extn.) Esencia Sushant City, Kundli(Extn.) Sushant City, Kundli Sushant City, Kurukshetra Sushant Megapolis Sushant Aqu
Slide 10: Typical Accounting Dynamics for a Project
Typical Accounting Dynamics for a Project Till the project Project crosses Handing Post Project Project Project Launch- Over/Completi Development- crosses threshold threshold Acquisition-(A) (B) on Stage-(E) (F) limit*-(C) limit*-(D) Operations- • Land Aggregation • Aggressive • Execution of the • E
Slide 11: Business Operations
Business Operations 11
Slide 12: Developments
Developments • Dr. Prem Singh Rana, has been appointed as a Non-Executive & Independent Director of the company w.e.f. August 11, 2011 – Ex- Chairman and Managing Director of HUDCO – An eminent professional having over 38 years of rich experience in conceptualization, planning, designing, appraising
Slide 13: New Launches–H1FY12
New Launches–H1FY12 Total Area Saleablae Released Area Sold Sale Value S.No. Project Name Location Type Area for Sale (mn.sq.ft.) (Rs. Mn.) (mn.sq.ft.) (mn.sq.ft.) Lucknow 1 Golf Gateway Towers GHS 0.25 0.25 0.03 101.62 Phase I Sushant Jeevan Lucknow 2 GHS 0.48 0.48 0.28 570.30 Enclave Phase II Sush
Slide 14: Operational Performance–Q2 & H1FY12
Operational Performance–Q2 & H1FY12 • Total area sold in Q2FY12 stood at 2.64mn.sq.ft. vs. 7.99mn.sq.ft. in Q2FY11 • Total sale value of area sold in Q2FY12 stood at ~Rs.3,496mn vs. ~Rs.6,920mn in Q2FY11 • Total area sold in H1FY12 stood at 11.16mn.sq.ft. vs. 11.43mn.sq.ft. in H1FY11 • Total sale va
Slide 15: Operational Performance–Q2 & H1FY12 (Contd..)
Operational Performance–Q2 & H1FY12 (Contd..) • Collections from customers stood at ~Rs.4,012mn Collection Trend 10,200 in Q2FY12 vs. ~Rs. 3,398mn in Q2FY11 18%. 9,200 9,165 8,639 Consequently , total collections from customers in 8,200 H1FY12 stood at ~Rs.8,639mn vs. ~Rs.6,100mn 7,200 INR Mn 6,095
Slide 16: Saleability – State Wise
Saleability – State Wise Area Sold Sale Value 7 6,700 6.62 6.57 6 6,318 6.44 6,195 6,174 5,600 5,613 5 mn.sq.ft. 4,500 INR Mn 4,796 4 4,365 4.05 3,400 3 3.35 3.30 2,300 2 0.91 0.66 0.51 0.45 0.42 1,200 606 0.31 1 420 1,228 311 399 936 0 100 H1FY11 H2FY11 H1FY12 H1FY11 H2FY11 H1FY12 Uttar Pradesh Har
Slide 17: Saleability - Asset Class Wise
Saleability - Asset Class Wise Area Sold (mn.sq.ft.) Sale Value (INR Mn) Asset Class • Significant increase (y-o-y) in H1FY11 H2FY11 H1FY12 H1FY11 H2FY11 H1FY12 Commercial & FSI sales in H1FY12 Plots 6.93 3.8 5.18 5,212.11 3,041.57 4,461.80 • Though sale volume for Low- Rise Low-Rise Built-Ups 1.23
Slide 18: Realizations – Trending Up
Realizations – Trending Up Average Realization Q2FY12 Realization Range 3,600 9,900 3,100 8,500 3,147 3,064 2,971 7,706 7,100 2,600 2,794 2,741 2,649 INR/Sq.Ft. INR/Sq.Ft. 6,318 2,100 5,700 2,153 1,939 1,600 4,300 3,994 2,900 3,333 1,100 1,278 3,064 2,741 1,046 646 519 931 457 2,153 424 711 1,500 69
Slide 19: Saleability & Collections
Saleability & Collections Cumulative Sales* Cumulative Collections* 54,000 80,000 76,050 76,283 100 47,000 70,000 90 45,494 90 40,000 42,241 80 INR Mn 60,000 mn.sq.ft. INR Mn 52,123 33,000 77 70 50,000 30,229 41,526 60 26,000 67 40,000 23,628 50 19,000 54 30,000 40 12,000 20,000 30 5,000 Till FY09 T
Slide 20: Indicative New Launches–FY12
Indicative New Launches–FY12 Sushant Golf City, Lucknow Sushant Golf City, Lucknow DA-IV Type: GHS - Golf Type: Hi-Tech Township Total Saleable Area: 3.99mn.sq.ft. Total Saleable Area: ~23mn.sq.ft. Launch Price/Sq.Ft.*: Rs.3200-Rs.3500 Launch Price/Sq.Ft.*: Rs.1200–Rs.3500 Launched plots & floors Su
Slide 21: Indicative New Launches–FY12 (Contd..)
Indicative New Launches–FY12(Contd..) Fernhil, Gurgaon Golf Links-II Sector 116, Mohali Type: GHS Type: Integrated Township Total Saleable Area: 1.36mn.sq.ft. Total Saleable Area: 2.19mn.sq.ft. Launch Price/Sq.Ft.*: Rs.2600 –Rs.2800 Launch Price/Sq.Ft.*: Rs.1000-3000 Launched Launched Kundli/Sonipat
Slide 22: Indicative New Launches–FY12 (Contd..)
Indicative New Launches–FY12(Contd..) Karnal Kurukshetra Type: Plots, Shop cum Office Complex Type: Shop cum Office Complex Total Saleable Area: 0.72mn.sq.ft. Total Saleable Area: 0.06mn.sq.ft. Launch Price/Sq.Ft.*: Rs.1100–Rs. 1600 Launch Price/Sq.Ft.*: Rs.3000–Rs. 3400 Launched Kurukshetra Sushant
Slide 23: Indicative New Launches–FY12 (Contd..)
Indicative New Launches–FY12 (Contd..) Sushant Megapolis, Greater Noida Sushant City-I, Jaipur Type: Commercial Type: Floors Total Saleable Area: 0.34mn.sq.ft. Total Saleable Area: 0.3mn.sq.ft. Launch Price/Sq.Ft.*: Rs.3500-Rs.4000 Launch Price/Sq.Ft.*: Rs.1500-Rs.1700 Launched Launched Anand Lok, J
Slide 24: Indicative New Launches–FY12 (Contd..)
Indicative New Launches–FY12 (Contd..) Hampton Court Business Park, Ludhiana Type: Township Total Saleable Area: 2.04mn.sq.ft. Launch Price/Sq.Ft.*: Rs.1200-Rs.2500 Launched Serene Residency ETA-II, Greater Noida Type: GHS Total Saleable Area: Under Planning *Launch Price is BSP and indicative only
Slide 25: Major Ongoing Projects Updates
Major Ongoing Projects Updates As on Sep 30, 2011 Saleable Area Released Pending Project Size Area Sold Sale Value S.No. Project Name Area for Sale Collections Acres Mn.Sq.Ft. Mn.Sq.Ft. Mn.Sq.Ft. INR Mn INR Mn Sushant Golf City 1 1765 57.02 45.24 25.29 18870.25 9976.75 Phase I, Lucknow Sushant Golf
Slide 26: Construction Updates
Construction Updates Essencia, Gurgaon Essencia, Gurgaon Essencia, Gurgaon Essencia, Gurgaon Low-Rise Built-Ups under construction ~668,223 sq.ft. Ansal API – Regaining its Old Glory 26
Slide 27: Construction Updates
Construction Updates Celebrity Garden, Lucknow Palm Villas, Lucknow GHS under construction ~187,705 sq.ft. Low-Rise Built-Up under construction ~347,472 sq.ft. Celebrity Greens, Lucknow Felix Square, Lucknow GHS under construction ~160,261 sq.ft. Commercial under construction ~165,945 sq.ft. Ansal A
Slide 28: Construction Updates
Construction Updates Paradise Crystal, Lucknow Bharti Walmart, Lucknow GHS under construction ~303,777 sq.ft. Cash & Carrry Store Under Construction ~60,000 sq.ft. Golf Villas, Lucknow Green Escape, Sonipat Low-Rise Built-Ups under construction ~1,899,444 sq.ft. GHS under construction ~2,320,346 sq.
Slide 29: Construction Updates (Contd..)
Construction Updates (Contd..) Galaxy Court, Panipat Palm Grove, Mohali Commercial under construction ~194,111 sq.ft. GHS under construction ~195,200 sq.ft. Fairway Apartment, Greater Noida Villas, Greater Noida GHS under construction ~1,287,551 sq.ft. Low-Rise Built-Ups under construction ~874,335
Slide 30: Land Resources
Land Resources 30
Slide 31: Land Reserves
Land Reserves All Figures in Acres Addition in Land Land Net Land Gross Land Net Land Land Bank/Reserves Exhausted Bank Bank/Reserves Bank/Reserves S.No. Particulars Exhausted till (during six during six /Reserves (As (As of Mar 31, (As on Mar 31, Mar 31, 2011* months ended months ended on Sep 30, 2
Slide 32: Land Reserves (Contd..)
Land Reserves (Contd..) All Figures in mn.sq.ft. As on March 31,2011 As on Sep 30, 2011 Particulars Total Saleable Area Total Saleable Area Ongoing Projects Opening Saleable Area 313 268.8 Less: Adjustment for revision in areas (2.0) 0 Balance 311 268.8 Add: New Land Reserves 1.5 38.4 Balance 312.5
Slide 33: Northern India Presence
Northern India Presence Punjab NCR Land Reserves (in acres) 778 Land Reserves (in acres) 4,011 % area acquired 55% % area acquired 95% Includes land reserve of 300 acres APIL intends to enter into a JDA for Haryana land parcel in Gurgaon Land Reserves (in acres) 706 % area acquired 100% Uttar Prades
Slide 34: Delivery Details
Delivery Details All Figures in mn.sq.ft. S.No. Asset Class As on March 31, 2011 As on Sep 30, 2011 1 Residential a Plots 28.2 28.2 Further deliveries expected from b GHS 1.9 1.9 Sushant Megapolis, Greater Noida, c Villas 1.8 1.8 Esencia, Gurgaon, Sushant City, Karnal, and Sushant Golf City, Lucknow
Slide 35: Completed Projects
Completed Projects THE ROYAL ENTRANCE Elite Floors, Panipat Sunshine Counthy-Kundli, Sonipat Sunshine Counthy-Kundli, Sonipat Sushant Royale, Karnal Elite Floors, Karnal Abhilasha Homes, Jodhpur More photos available on www.ansalapi.com Ansal API – Regaining its Old Glory 35
Slide 36: Completed Projects (Contd..)
Completed Projects (Contd..) Palm Grove Villa, Jaipur Icon Villa, Ajmer Dream Home, Ajmer Villa-Golf Links, Mohali Villa-Sushant City, Kurukshetra Villa-Sushant Golf City, Lucknow More photos available on www.ansalapi.com Ansal API – Regaining its Old Glory 36
Slide 37: Completed Projects (Contd..)
Completed Projects (Contd..) Maple Town & Country Club, Orchid Shopping Plaza, Jodhpur Ansal Courtyard, Ajmer Jaipur Ansal Plaza, Delhi Ansal Plaza, Jalandhar Ansal Plaza, Greater Noida Ansal Royal Plaza, Jodhpur Country Inn & Suites, Sushant City, Ajmer Country Inn & Suites, Sushant City, Ajmer Ans
Slide 38: Financials
Financials 38
Slide 39: Financial Highlights – Q2 & H1FY12
Financial Highlights – Q2 & H1FY12 Q2FY12 vs. Q2FY11 (Consolidated) • Revenue stood at ~Rs.3,065mn vs. ~Rs.3,277mn 6.5% • PAT stood at ~Rs. 265mn vs. ~Rs.199mn 33.3% • Gross Profit Margin stood at 40.2% vs. 34.2% 602 bps • EBITDA Margin stood at 20.2% vs. 20.5% 31bps • PAT Margin stood at 8.6% vs. 6
Slide 40: Profit & Loss Account - Consolidated
Profit & Loss Account - Consolidated INR Million Particulars Q2FY12 Q2FY11 Q1FY12 H1FY12 H1FY11 FY11 Net Sales 2,948.6 3,197 2,906.90 5,855.50 5,704.70 12,366.00 Other Operating Income 116.3 80 114.60 230.90 144.90 316.10 Total Expenditure 2,446.1 2,605.1 2,425.30 4,871.40 4,413.30 10,150.20 Cost of
Slide 41: Statement of Asset & Liabilities - Consolidated
Statement of Asset & Liabilities - Consolidated INR Million Half Year Ended Half Year Ended Particulars Sep 30, 2011 Sep 30, 2010 SHAREHOLDERS' FUNDS: (a) Capital 787 658 (b) Reserves & Surplus 17,585 13,477 Share Application money 1,701 170 Minority Interest 944 1,474 Loan Funds* 16,023 17,242 Defe
Slide 42: Debt Position
Debt Position INR Million Particulars Amount Debt Profile Gross opening Debt (As on April 1, 2011) 15,854 Others ROCD CCD 7% Add: Fresh Disbursements during H1FY12 2,213 NCD 2% 6% 3% Less: Repaid during H1FY12 3,273 CC/OD 8% Gross Debt (As on Sep 30, 2011)* 14,794 Corporate Add: Interest Accrued 274
Slide 43: Growth Strategy
Growth Strategy • Northern India Focus: Continue to focus on high growth markets in NCR and in other states of Northern India • Asset Monetization: It will involve liquidation of current finished stock to raise capital to be deployed in the operations • Sale of Non Core business/assets: Company inte
Slide 44: Guidance – FY12
Guidance – FY12 Achieved - % Achieved of Particulars UOM FY12 E H1FY12 the Estimated Sales/Bookings mn.sq.ft. 16-18 11.16 66% Operational Average Realization INR/Sq.Ft. 1,300-1,400 1,204 89% Customer Collections INR Mn 18,000 8,639 48% Delivery mn.sq.ft. 7-8 0 - Financial Sales/Total Income INR Mn 1
Slide 45: Thank You
Thank You Dinesh C. Gupta Investor Relations Floor 1, 115, Ansal Bhawan, 16, K.G.Marg, New Delhi - 110001 India Work: +91 120 4293945 / +91 11 66038334 Facsimile: +91 11 66302873 Email: ir@ansalapi.com Website: www.ansalapi.com
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