Sobha Limited · NSE:SOBHA
Sobha — Sobha Developers — Q2 FY2012 Earnings Presentation
35 slides from Sobha's earnings presentation, Sep 30, 2011
Slide 1: Details Make the Difference – Investor Presentation
Sobha City – Thrissur – Topaz & Malachite Villas Details Make the Difference Investor Presentation 30th September-2011 Malachite - Villas
Slide 2: Performance Highlights Q2-12
Performance Highlights Q2-12 Achieved sales of 936,319 sft during the 2nd quarter compared to 665,660 sft in the 1st quarter and 744,678 sft during the corresponding period of the last year. Achieved Sales volume growth of 41% Qtr on Qtr and 26 % Yr on Yr. Cumulative sales for the 1st half was
Slide 3: Performance Highlights Q2-12 (Contd.)
Performance Highlights Q2-12 (Contd.) Launched new projects of 5.13mn sft during the second quarter in 3 locations. Total new launches in the year till 30th September is 8.61 mn sft. Highest ever in the history of the company. Strong Contractual order book position of about 12 mn sft with unbi
Slide 4: Projects New Launches
Projects New Launches Projects Launched in Q2-12 Area Offered No of units Total Area Total No of Project Location Type for Sale offered for Launched in (Mn.sft) Mn.sft) Units (Mn.sft) Mn.sft) sale Row Houses / International City Gurgaon, NCR 4.38 658 1.05 199 Jul-11 Villas Super Luxury Sobha Garnet
Slide 5: Projects Launched during Q2-12 – International City, Gurgaon
Projects Launched during Q2-12 INTERNATIONAL CITY, GURGAON, NCR --- UPSCALE COMMUNITY LIVING – SPREAD ACROSS 153 ACRES Master Plan • 658 nos of well planned Super Luxury Villas and Row Houses with complete social infrastructure – Schools, Healthcare & Shopping centre. • Located very close to Delhi –
Slide 6: Projects Launched during Q2-12 – Sobha Garnet, Pune
Projects Launched during Q2-12 SOBHA GARNET, PUNE • 198 Super Luxury 3 BHK & 4 BHK apartment at Pune. • Located off NIBM road ,Kondhawa , Pune. • Located in close radius of Katraj Ghats. • Apartment sizes are : 1,400 sft - 2,550 sft Rs. 1,500 cr new sales in Real Estate. Sobha – Poised for Rs. Sobha
Slide 7: Projects Launched during Q2-12 – Pristine and Canvas
Projects Launched during Q2-12 SOBHA PRISTINE, BANGALORE SOBHA CANVAS, BANGALORE • 77 No of well planned plots at Bangalore. • 44 super luxury units including 4 penthouses. • Located at IVC Road, Devanahalli (near Sobha Lifestyle), • Apartment Sizes are : 4 BHK-3,737 sft – 3,832 sft, Just 10 mins dr
Slide 8: Sales Performance
Sales Performance Real Estate sales during 2nd Quarter of 2011-12 Q2 11-12 : Area Q1 11-12 : Area Q2 10-11 : FY 10-11 : Locations sold (Sft) sold (Sft) Area Sold (sft) Area Sold (sft) Bangalore 644,116 477,362 524,285 2,113,836 Thrissur 101,876 58,198 167,463 382,305 Coimbatore 18,906 43,645 39,396
Slide 9: Average Price Realisation
Improving Outlook-Real Estate • Average sales realization achieved for the 2nd Area Sold 0.74 0.71 0.66 0.66 0.94 quarter of FY 11-12 is Rs.5,196/ sft as compared (Mn.sft) to Rs.4,547/sft during Q1. 5,196 • Average sales volume of 0.74 mn.sft for the past 4,327 4,499 4,547 5 quarters. 0 00 Average P
Slide 10: Unparalleled Execution Strength (Real Estate)
Unparalleled Execution Strength (Real Estate) Completed Projects ¾ Completed Projects: 18.76 100 14.39 73 projects aggregating to 18.76 mn SBA in Real Estate 80 60 Total area developed * is 22.79 mn sft. 40 73 61 ¾ Ongoing Projects: 20 0 45 projects aggregating to 16.16 mn.sqft in Real Estate.
Slide 11: Real Estate – A Strong Foundation
Real Estate – A Strong Foundation Q2 -12 : Highlights – Real Estate Completed ( 18.76 Mn.sqft) 0.3 Launched total area of 5.13 mn.sft during Q2-12 2.7 0.3 Bangalore Area sold during the quarter : 936,319 sft Thrissur Average Price realization of Rs.5,196/sft Coimbatore Entered in to new regi
Slide 12: Real Estate – Future Launches
Real Estate – Future Launches Proposed launches to be offered for sale in the coming quarters SITE Area Total SBA Sobha share of Sl.No Projects Location Type (in Acres) (sft) SBA (sft) BANGALORE 1 Hopefarm Property Hopefarms, Whitefield Luxury Apartments 4.48 574,208 574,208 Hosakerehalli, Mysore 2
Slide 13: Real Estate – Future Launches (contd.)
Real Estate – Future Launches (conti…) Proposed launches to be offered for sale in the coming quarters SITE Area Total SBA Sobha share Projects Location Type (in Acres) (sft) of SBA (sft) Coimbatore 9 Sobha Hillview Veerakeralam, Dreams Apartments 4.03 256,612 256,612 Thondamuthur 10 Harishree Garde
Slide 14: Price Band category - Residential
Price Band category -Residential Particulars Area in Sq.ft No. of units Net residential area sold 1,590,347 778 Add : Commercial space sold 14,632 5 Total SBA Sold for the period 1,604,979 783 ended 30th Sept 11 Category SBA (Sft) Percentage No of units Percentage 50-75 lakhs 446,792 28% 255 33% 75
Slide 15: Customer Profile
Customer Profile Buyers Profession Bank Funding Position IT/ITES Others, 26% professionals, Customers applied for Bank Loan 51% 37% Self Funding 49% Medical / Note: The funding position is considered for cumulative sales period from July-10 to 31st- Pharmaceutica Aug-11. ls, 3% Other Professionals,
Slide 16: Unparalleled Execution Strength (Contracts)
Unparalleled Execution Strength (Contracts) Completed Projects ¾ Completed Projects: 200 150 198 198 projects aggregating to 24.58 mn.sqft in Contracts. 100 123 22.98 24.58 ¾ Ongoing Projects: 50 0 39 projects aggregating to 9.03 mn.sqft in Contracts, 30th Sept-10 30th Sept-11 No of projects SBA
Slide 17: Contracts - Snapshot
Contracts - Snapshot Q2-12 Highlights – Contracts Completed Projects 1.1 Completed & handed over 5 projects aggregating 0.07 mn.sft during 1.9 Q2-12. New projects started during Q2-12 : 0.73mn.sft New Contractual orders received other than Infosys : Rs.11.23 crs 21.5 New clients added during
Slide 18: Contractual Projects – An Overview
Contractual Projects – An Overview Contractual Projects status as on 30th September-11 ONGOING PROJECTS FORTHCOMING PROJECTS S.NO DESCRIPTION No of No of SBA (Sft ) SBA (Sft) Projects Projects 1 Mysore 4 1,965,712 3 396,051 2 Chennai 6 1,336,245 3 650,000 3 Pune 3 1,182,762 2 1,020,000 4 Hyderabad 5
Slide 19: Project Completion
Project Completion Targeted Completion in 2011-12 Actual Completion in Q2-12 • Real Estate : Q2 : FY 11-12 Q1:FY 11-12 Total H1-FY-11-12 • 8 projects aggregating 2.25 mn.sft of projects PARTICULARS are targeted to complete in FY 11-12 No of SBA No of SBA No of SBA Projects (Mn.sft) Projects (Mn.sft)
Slide 20: Operational Cash flow Statement
Operational Cash flow Statement Real Estate Projected Cash flow status as on 30th September-11 Ongoing Completed Description UOM Projects Projects Total Super Built-up area 16.16 5.61 Mn.sft Sobha share of Saleable area 13.77 5.40 Mn.sft Total area sold till 30th September-11 4.22 5.28 Mn.sft Unsold
Slide 21: Financial Snapshot Q2-12
Financial Snapshot Q2-12 Rs.in Mn % Q2-12 ON % Q2-12 ON PARTICULARS Q2-12 Q2-11 Q1-12 Q2-11 Q1-12 Real Estate Income (Excl. sale of land development 2,142 2,234 1,951 (4%) 10% rights) Contractual Income 1,153 933 1,228 24% (6%) EBIDTA 787 634 628 24% 25% PBT 592 456 453 30% 31% PAT 409 337 309 21% 3
Slide 22: Financial Snapshot – Revenue, EBITDA & PAT
Financial Snapshot REVENUE, EBITDA & PAT 16,000 14,643 14,000 11,193 12,000 9,917 Value (Rs.Mns) 10,000 8,000 6,510 6,000 2,867 3,143 2,425 4,000 1,825 1,415 1,097 1,367 2,000 718 - 2008-09 2009-10 2010-11 2011-12 (H1) Financial Year Revenue EBITDA PAT Rs. 1,500 cr new sales in Real Estate. Sobha –
Slide 23: Financial Snapshot – Equity, Reserve, Debt, D/E Ratio
Financial Snapshot Equity, Reserve, Debt D/E Ratio 20,000 18,911 18,304 17,946 18,000 16,104 16,000 2.00 1.74 13,740 13,622 14,000 11,880 1.60 Value (Rs.Mns) 12,000 10,166 10,000 1.20 0.80 8,000 0.71 0.63 0.80 6,000 4,000 0.40 729 981 981 981 2,000 - - 2008-09 2009-10 2010-11 2011-12 (H1) 2008-09 20
Slide 24: Balance Sheet
Balance Sheet Rs.in Millions th th st PARTICULARS 30 Sep-11 30 Sep-10 31 Mar-11 31st Mar-10 SOURCES OF FUNDS Shareholders' funds Share capital 981 981 981 981 Reserves and surplus 18,304 17,038 17,585 16,104 Net Worth 19,285 18,019 18,566 17,085 Loan funds Secured loans 13,978 12,598 12,026 14,466 U
Slide 25: Profit and Loss Statement
Profit and Loss Statement Rs.in Millions % of Growth Particulars Q2-12 Q2-11 H1-12 H1-11 Q1 -12 Q2-12 on Q2 12 on Q2-11 Q1-12 Property Development Incl. Sobha 2,142 2,234 4,093 4,465 1,951 (4%) 10% city Sale of land / Development rights - 1,140 - 1,198 - - Contractual + Manufacturing 1,153 933 2,381
Slide 26: Cash Flow Statement
Cash Flow Statement Rs.in Millions Half Year ended Quarter ended Year ended 31st March Particulars For Q2 2011 30/09/2011 30/06/2011 2011 2010 A. CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 592.51 1,045.96 453.45 2,435.97 1,602.71 Adjustments for Share in profits of partnership firm (19.12
Slide 27: Cash Flow Statement contd…
Cash Flow Statement contd… Rs.in Millions Half Year ended Quarter ended Year ended 31st March Particulars For Q2 2011 30/09/2011 30/06/2011 2011 2010 B. CASHFLOW FROM INVESTMENT ACTIVITIES Purchase of fixed assets (457.99) (558.26) (100.27) (229.78) (139.41) Proceeds from sale of fixed assets 0.39 1
Slide 28: Cash Flow Statement contd..
Cash Flow Statement contd.. Rs.in Millions Half Year ended Quarter ended Year ended 31st March Particulars For Q2 2011 30/09/2011 30/06/2011 2011 2010 Net increase / (decrease) in cash or cash 48.00 165.38 117.37 (527.20) 589.85 equivalents – (A+B+C) Cash and cash equivalents as at beginning of the
Slide 29: Movement of Loans
Movement of Loans Rs. in Millions Particulars13 As on 30th As on 30th (Increase) June 2011 Sep 2011 /Decrease Gross Debt 13,345.16 14,061.03 (715.87) Less: Cash & bank balances 379.19 438.54 59.35 Net Debt 12,965.97 13,622.49 (656.52) • The company generated Net cash from operating activities Rs.1,2
Slide 30: Investments in Subsidiary - A Brief Note
Investments in Subsidiary-A Brief Note • Sobha Developers Ltd earlier had invested in associate company i.e., SDPPL during the FY 2008-09 . • M/s Pan Atlantic was the other investor in that company holding 81% stake. • The project Sobha Forest view was launched in the FY 2010-11. • The Total SBA of
Slide 31: Land Bank – Development Potential
Land Bank – Development Potential GURGAON (19.77 Acres) CHENNAI (517.23 acres) Developable Area 1.83 Developable Area 37.48 Sobha Share 37.43 Sobha Share 1.83 BANGALORE (867.87 acres) Developable Area 84.79 Sobha Share 81.55 HOSUR (484.76 acres) PUNE (138.61 acres) Developable Area 34.84 Developable
Slide 32: Sobha – Shareholding Pattern
Sobha – Shareholding Pattern FII's In the last 1 year FII’s holding has increased 33.24% from 26.96% to 33.24% , an increase by 23.29%. Promoters 60.50% No. of shareholders as on 30th September 2011 is 65,586. Market capitalization as on 30th September Rs .2,128 crores. Mutual Funds 1.07% Othe
Slide 33: Sobha – Stock Performance
Sobha – Stock Performance Status as on: 30th September- 11 1 year Chart - Sobha v/s Nifty v/s Nifty Realty 10 Date No. of Shares 98.06 mns 0 % Cha nge in Closing Price Oct-10 Nov-10 Dec-10 Feb-11 Mar-11 May-11 Jun-11 Aug-11 Sep-11 -10 Market Capitalization Rs. 21,285 mn -20 Stock Price : 52 week Hig
Slide 34: Recognition During the Quarter
Recognition During the Quarter India’s Top 10 Builders Award by Construction World and CW Interiors. Best sustainable Project for the year for Bayer’s Eco-Commercial Building Sobha Malachite, Thrissur bagged runners up award in ‘Zee Business_RICS Real Estate Awards 2011’ under the category of
Slide 35: Thank You
THANK YOU Sobha Developers Ltd. S. Baaskaran K.Bala Murugan 43, Dickenson Road, Chief Financial Officer Manager – MD’s Office Ulsoor, Bangalore – 42. Mobile: +91- 98800 80009 Mobile: +91- 98807 30459 Phone: +91-80- 25564380 Email: baaskaran.s@sobha.com Email: balamurugan.k@sobha.com Fax: +91-80- 253