Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q3 FY2023 Earnings Presentation
39 slides from Godrej Properties's earnings presentation, Feb 2, 2023
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 02, 2023 BSE Limited Phiroze Jeejeebhoy Tower
Slide 2: Results Presentation Third Quarter, Financial Year 2023
R E S U LT S P R E S E N T A T I O N THIRD QUARTER, FINANCIAL YEAR 2023 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
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 FY23 Operational Highlights 02 Q3 FY23 Financial Highlights 03 Annexure 04 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 5: Godrej Group
GODREJ GROUP • Established in 1897 Value Creation Track Record • $6 bn annual revenue 21 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth • 1.1 billion people globally use a Godrej product¹ BSE Sensex 14% 18 • Godrej ranks amongst the most trusted Indian brands² Godrej Con
Slide 6: Godrej Properties
GODREJ PROPERTIES • Established in 1990 • India’s largest developer by residential sales in FY21 • Successfully delivered ~25 million sq. ft. of real estate in the Chandigarh 0.5, 1 NCR past five years 37.5, 22 • ~213 million sq. ft. of saleable area across India • Differentiated asset-light busines
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 Effective Land
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth ~ 6x an identical investment into the BSE Realty Index Value Creation Track Record 13 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 10.0% 3.46 Godrej Properties 13.7% 5.32 BSE Realty Index -0.9%
Slide 9: Agenda
AGENDA Overview 01 Q3 FY23 Operational Highlights 02 Q3 FY23 Financial Highlights 03 Annexure 04 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 10: Q3 FY23 Operational Highlights
Q3 FY23 OPERATIONAL HIGHLIGHTS • GPL’s highest ever quarterly sales - booking value stood at INR 3,252 crore Sales • GPL’s highest ever 9 months sales - booking value stood at INR 8,181 crore Highlights • 4 new phase launches during the quarter across 3 cities • GPL’s best ever quarter for business
Slide 11: Sales Highlights
SALES HIGHLIGHTS Particulars Q3 FY23 Q3 FY22 Growth Q2 FY23 Growth 9M FY23 9M FY22 Growth Area Sold (million sq. ft.) 4.42 2.22 99% 2.71 63% 9.96 6.60 51% Booking Value (INR Cr) 3,252 1,541 111% 2,409 35% 8,181 4,613 77% Customer Collections* (INR Cr) 1,684 1,426 18% 1,930 -13% 5,169 3,842 35% * Net
Slide 12: Sales Highlights (Contd.)
SALES HIGHLIGHTS (Contd.) City-wise Sales Breakdown for Q3 FY23 NCR Bengaluru • Registered booking value of INR 976 crore through sale • Registered booking value of INR 749 crore through sale of 554 units with total sales of 0.91 million sq. ft. of 1479 units with total sales of 1.36 million sq. ft.
Slide 13: Project Booking
PROJECT BOOKING Particulars Booking Area (mn. sq. ft.) Booking Value (INR Cr) Residential Projects Q3 FY23 9M FY23 Q3 FY23 9M FY23 Godrej Garden City, Ahmedabad 1.01 1.01 438 440 Godrej Ananda, Bengalure 0.83 0.88 424 449 Godrej Woodsville, Pune 0.49 0.81 356 582 Godrej Woods, NCR 0.20 0.46 269 585
Slide 14: Project Booking (Contd.)
PROJECT BOOKING (Contd.) Particulars Booking Area (mn. sq. ft.) Booking Value (INR Cr) Commercial Projects Q3 FY23 9M FY23 Q3 FY23 9M FY23 Godrej Eternia, Chandigarh 0.04 0.07 30 57 Total 0.04 0.07 30 57 Grand Total 4.42 9.96 3,252 8,181 13 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 15: Quarterly Sales Trend
QUARTERLY SALES TREND Quarterly Sales Value 3,248 3252 2,632 2,574 2,520 2,409 (INR cr) 1,541 497 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Quarterly Sales Volume 4.4 4.2 4.2 (Million sq.ft.) 3.6 2.8 2.7 2.2 0.8 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3FY23 14
Slide 16: Business Development
BUSINESS DEVELOPMENT Added 9 new projects in NCR, MMR & Pune with an expected booking value of INR 23,050 crore Estimated Saleable Area Expected Booking Value Particulars Business Model (million sq. ft.) (INR Cr.) Kandivali, MMR 3.72 7,000 100% owned group housing development project Mahalaxmi, MMR
Slide 17: Business Development (Contd.)
BUSINESS DEVELOPMENT (Contd.) Post Q3 FY23 - Added 2 new projects in Chennai and MMR with an expected booking value of INR 1,000 crore Chennai Plotted • Spread across approximately 60 acres, the project will offer 1.60 million sq. ft. of residential plotted development located in the fast- developin
Slide 18: Launch Tracker FY23
LAUNCH TRACKER FY23 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY23 New Phase Launches Planned in FY23 Project City Launch Launch Status Area* Project City Status Area* Godrej Horizon MM
Slide 19: Construction Highlights
CONSTRUCTION HIGHLIGHTS Delivered ~1.71 million sq. ft. in Q3 FY23 Godrej Nurture, Bengaluru Godrej 24, Bengaluru 0.72 million sq. ft. 0.57 million sq. ft. GPL Economic Interest : Profit Share - 50% GPL Economic Interest : DM Fee - 11% of Revenue Plotted development projects which received OC: • God
Slide 20: Awards and Recognitions
AWARDS AND RECOGNITIONS GPL received 27 Project awards in Q3 FY23 ILLUSTRATIVE LIST OF AWARDS PROJECT AWARDS Godrej Boulevard, Pune | Godrej Rejuve, Pune | Godrej Hill Retreat, Pune | Godrej Park Ridge, Pune Platinum Award - Greentech International EHS Award 2022 Godrej Nirvana, MMR | Godrej Urb
Slide 21: Sustainability – ESG Performance and CSR Impact
SUSTAINABILITY – ESG PERFORMANCE AND CSR IMPACT GPL has been recognized as a Sector Leader Globally and in Asia for Residential Development in 2022 by Global Real Estate ESG Rating Sustainability Benchmark (GRESB) GPL has been awarded a full score of 100 and rated A for the Public Disclosure a
Slide 22: Agenda
AGENDA Overview 01 Q3 FY23 Operational Highlights 02 Q3 FY23 Financial Highlights 03 Annexure 04 21 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 23: Consolidated Financial Statements – P&L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q3 FY23 Q3 FY22 % Change Q2 FY23 % Change 9M FY23 9M FY22 % Change Total Income 366 399 -8% 327 12% 1,068 921 16% Adjusted EBITDA* 160 121 31% 98 63% 390 312 25% EBITDA** 153 115 33% 94 63% 364 302 20% Profit before tax 101 68 49% 48 111
Slide 24: Consolidated Cashflow
CONSOLIDATED CASHFLOW (INR Cr) Notes Particulars Q3 FY23 9M FY23 Operating cashflow Total operating cash inflow 2,146 6,172 A Operating cash outflow Construction and related outflow -850 -2,518 Other project related outflow -747 -2,362 Total operating cash outflow -1,597 -4,880 Net operating cashflo
Slide 25: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 31.12.2022 As on 31.03.2022 A Assets Unaudited Audited 1 Non Current assets a Property, plant & equipment 125.43 104.62 b Right-of-Use Asset 18.48 24.73 c Capital Work-in-Progress 491.60 339.49 d Investment Property 32.64 34.03
Slide 26: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 31.12.2022 As on 31.03.2022 B Equity and Liabilities Unaudited Audited 1 Equity a Equity share capital 139.01 138.99 b Other equity 8,698.04 8,536.40 c Non-controlling interest 5.66 -1.82 Total Equity 8,842.71 8,673.57 2 Liabil
Slide 27: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators Particulars Q3 FY23 Q3 FY22 Q2 FY23 9M FY23 9M FY22 Adjusted EBITDA / Total Income* 43.59% 30.44% 29.92% 36.47% 33.83% EBITDA / Total Income** 41.87% 28.82% 28.85% 34.06% 32.80% PBT Margin % 27.65% 17.04% 14.76% 21.11% 17.58% Net Profit Margin %# 16.03% 9.
Slide 28: Agenda
AGENDA Overview 01 Q3 FY23 Operational Highlights 02 Q3 FY23 Financial Highlights 03 Annexure 04 27 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 29: A. Residential Projects
A. RESIDENTIAL PROJECTS * Primarily a residential project with a portion of commercial saleable area. 28 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 30: A. Residential Projects
A. RESIDENTIAL PROJECTS 29 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 31: A. Residential Projects
A. RESIDENTIAL PROJECTS 30 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 32: A. Residential Projects
A. RESIDENTIAL PROJECTS 31 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 33: A. Residential Projects
A. RESIDENTIAL PROJECTS * Total estimated saleable area represent GPL share balance area to be sold for project 32 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 34: B. Commercial Projects
B. COMMERCIAL PROJECTS 33 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 35: 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 34 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY23
Slide 36: Press Release: Update for Q3 FY23 Results
GODREJ PROPERTIES LIMITED CIN : L74120MH1985PLC035308 Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express Highway, Mumbai – 400079 PRESS RELEASE Update for Q3 FY23 Results • GPL’s highest ever quarterly sales – Q3 booking value grew by 111% YoY to INR
Slide 37: Press release: Business Development
Business Development Added 9 new projects in NCR, MMR, and Pune with an estimated booking value of INR 23,050 crore Particulars Estimated Expected Business Model Saleable Area Booking (million sq. Value ft.) (INR Cr) Kandivali, MMR 3.72 7,000 100% owned group housing development project GPL owns 50%
Slide 38: Press release: Financial Overview (Consolidated)
The two highlights in the third quarter were that GPL registered its best ever quarter for both sales bookings and business development. This leaves us well positioned to surpass our FY 23 bookings guidance of 10,000 crore and to sharply grow on this base in the years ahead.” Financial Overview (Con
Slide 39: About Godrej Properties Limited
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 126-year legacy of excellence and trust with a commitment to cutting edge design, technology,