Embassy Developments Limited · NSE:EMBDL
Embassy Developments — Indiabulls Real Estate — Eighteenth Annual India Summit (Morgan Stanley) 2016
33 slides from Embassy Developments's conference presentation, Jun 2, 2016
Slide 1: Corporate Announcement: Disclosure under Regulation 30
Corporate Announcement: June 2, 2016 Dear Sirs, Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to the above-mentioned regulations, we wish to inform you that the Company participated in the Eighteenth Annual India Summ
Slide 2: Indiabulls Real Estate Limited Investor Presentation
Indiabulls Real Estate Limited Investor Presentation
Slide 3: Contents
Contents Pg. No. 1. Overview 3 2. Industry Outlook 8 3. Business Update 12 4. Operations Update 22 2
Slide 4: Overview
REAL ERB TAT E Overview
Slide 5: Indiabulls Group Companies
Indiabulls Group Companies Indiabulls Group (Combined Networth Rs. 19,814 Cr) Indiabulls Indiabulls Indiabulls Housing Finance Real Estate Ventures • India’s second largest • National developer with • Offers retail non- mortgage finance focus on Mumbai, NCR discretionary wealth company in private se
Slide 6: IBREL Journey
IBREL Journey Rs. 538 Cr Equity Infusion by the 2015-16 Promoter Buy back of international Bond of $ 122.79m# Rating upgraded to AA- by CARE highest amongst listed Indian real estate companies 2014-15 International rating of B+ (Stable) reaffirmed by S&P, Moody’s and Fitch Acquired the prime
Slide 7: IBREL – One of India's leading real estate player
IBREL – One of India’s leading real estate player Different Buckets of Value A B C D Ongoing projects Planned projects ** Land bank IPIT*** 13 projects in India with total 3 new projects to be launched - Fully paid land bank of 1,010 51% stake in Indiabulls saleable area of 31.94 m sq ft tot
Slide 8: Industry Outlook
R EAL Industry Outlook
Slide 9: Industry Outlook
Industry Outlook • Commercial: Reduction in Vacancy Levels in Mumbai (19% in 2013 to 15% in 2015) 2,6 • Residential: o Interest cycle that peaked 2014 and have since then trending downward (Benchmark rates cut by 150 bps) 1 o Number of units Launched in MMR (2015) has been 39,663 while absorption ha
Slide 10: Industry Outlook – Regulatory Trend
Industry Outlook – Regulatory Trend • Real Estate (Regulation and Development) Act • Relaxation in FDI norms in Real Estate • Housing for All by 2022 • Smart Cities Initiative • Income Tax Rebate (Affordable housing) • REITs: Removal of Dividend Distribution Tax 9
Slide 11: Business Update
R EAL Business Update 10
Slide 12: Snapshot – Completed Projects
Snapshot – Completed Projects Area Project Location Type (m sq ft) IBREL Completed Projects Centrum, Madurai Madurai Residential (Mid Income) 0.16 Centrum Park, Gurgaon NCR Residential (Mid Income) 0.48 Mint, Thane Mumbai Commercial 0.06 Indiabulls Greens, Chennai Chennai Residential (Mid Income) 0.
Slide 13: Rental Assets
Rental Assets • Key Assets – 3.3 million sft in the heart of Mumbai – One Indiabulls Center & Indiabulls Finance Center • Stable Annuity Earnings • 85% occupancy in FY 2016 • Rental Reset Clause – every 3 yrs Rs in Cr Net Worth 2,470 Net Debt 2,818 Rental Receipts for FY 15-16 472 12
Slide 14: Development Assets
Development Assets • PAT 339cr in FY 2016 - 29% CAGR. Net debt reduced by 863cr. • Marquee projects across key geographies in India • 40.7m sqft under construction and already planned, with potential of net surplus cash flows for the company to the tune of ~ 21,071 cr • IPIT – With consolidation, Sk
Slide 15: Development Assets
Development Assets Rs. In cr Revenue Existing Projects under Revenue Balance Total Revenue* Recognised till Recognition Revenue March 31, 2016 Blu, Mumbai 6,432 3,147 3,285 Indiabulls Greens,Panvel (Phase 1 & 2) 4,459 2,453 2,006 Indiabulls Golf City, Savroli (Phase 1 & 2) 3,168 699 2,469 Enigma, Gu
Slide 16: Snapshot – Ongoing IBREL Projects (A)
Snapshot – Ongoing IBREL Projects (A) Gross Expected first Area Development Project Location Type Launched handover (m sq ft) Value Month (INR Cr) IBREL Ongoing Projects Blu Estate & Club, Worli Mumbai Residential (Luxury) 1.21 6,432 Mar 17 Ready to start Indiabulls Greens, Panvel Mumbai Residenti
Slide 17: Snapshot – Ongoing IPIT Projects (B)
Snapshot – Ongoing IPIT Projects (B) Gross Expected first Area Development Project Location Type Launched handover (m sq ft) Value Month (INR Cr) IPIT Ongoing Projects Sky Forest, Lower Parel Mumbai Residential (Luxury) 1.50 3,936 Dec 18 Sky Suites, Lower Parel Mumbai Residential (Luxury) 1.40 3
Slide 18: Snapshot – Planned Projects (C)
Snapshot – Planned Projects (C) Gross Expected first Area Development handover Project Location Type Launched (m sq ft) Value month (INR Cr) Planned Projects Indiabulls Mint, Gurgaon (Sec 104) NCR Commercial - 0.31 310 Mar 19 Residential/ Indiabulls Imperial, Gurgaon (Sec 106) NCR - 6.98 5,933 Mar 1
Slide 19: Summary of Ongoing & Planned Projects (A, C)
Summary of Ongoing & Planned Projects (A, C) Summary Snapshot Rs. Cr Pending Collection from Sold 4,300 Inventory (a) Pending Construction Cost (b) 8,935 Value of Unsold Inventory (c) 25,706 Net Surplus (a+c-b) 21,071 Expected Net Surplus of Rs. 21,071 Cr by 2019 Above includes only ongoing & plan
Slide 20: Operations Update
REAL ERB TAT E Operations Update 19
Slide 21: Completed Projects
Completed Projects One Indiabulls Centre – Mumbai Indiabulls Finance Centre – Mumbai (16.5 lac sft) (15.6 lac sft) 20
Slide 22: Completed Projects (Contd.)
Completed Projects (Contd.) Indiabulls Centrum – Madurai (1.6 lac sft) Sky 882, Lower Parel Indiabulls Centrum Park – Gurgaon Phase 1 (4 lac sft) (4.8 lac sft) 21
Slide 23: Blu Estate & Club, Worli
Blu Estate & Club, Worli Location Worli, Mumbai Total area (Acres) 10.0 Estimated total saleable area 1.21 (m sq.ft.) Estimated total units 345 Expected first handover month Mar-17 • 10 acre development in the Heart of South Mumbai (Worli) Project USP • 1/10th Density amongst peers (33 Apartments pe
Slide 24: Indiabulls, Panvel
Indiabulls, Panvel Location Panvel, Navi Mumbai Total area (Acres) 52.3 Estimated total saleable area (m sq.ft.) 8.73 Estimated total units 6,701 Phase 1 Ready to start Expected first handover month Handover • Access from NH4, Mumbai- Pune Expressway, proposed CIDCO Multi-Modal corridor Project USP
Slide 25: Indiabulls Golf City, Savroli
Indiabulls Golf City, Savroli Location Savroli, Navi Mumbai Total area (Acres) 110.0 Estimated total saleable area (m 5.22 sq.ft.) Estimated total units 4,016 Expected first handover month Aug-16 • 18-hole Golf course with direct connectivity from Mumbai- Project USP Lonavala expressway • Adjacent t
Slide 26: Enigma, Gurgaon
Enigma, Gurgaon Location Gurgaon (Sector 110) Total area (Acres) 19.9 Estimated total area (m sq.ft.) 1.76 Estimated total units 479 Expected first handover month Oct-16 • Direct access from the expressway Project USP • Premium apartments with Lowest density (450 apartments) Project location 17.6 la
Slide 27: Indiabulls Greens, Chennai
Indiabulls Greens, Chennai Location Chennai Total area (Acres) 15.9 Estimated total saleable area (m sq.ft.) 2.07 Estimated total units 1,611 Phase 1 handed over & Phase 2 Expected first handover month expected to start by Nov-16 Located on the OMR belt, in Project USP close proximity to the IT hub
Slide 28: One Indiabulls, Gurgaon
One Indiabulls, Gurgaon Location Gurgaon (Sector 104) Total area (Acres) 34.0 Estimated total saleable area (m 6.15 sq.ft.) Estimated total units 2,000 Expected first handover month Mar-19 • Access from Dwarka Expressway (NH), 10 mins to International airport , 6 Kms Project USP from Delhi and Diplo
Slide 29: Sky Forest, Lower Parel
Sky Forest, Lower Parel Location Lower Parel, Mumbai Total area (Acres) (mixed use 9.7 development) Estimated total saleable area (m 1.50 sq.ft.) Estimated total units 442 Expected first handover month Dec-18 • Located in Parel SBD, on the Golden mile, beautified by IBREL. • Duplex Sky Villas with u
Slide 30: Sky Suites, Lower Parel
Sky Suites, Lower Parel Location Lower Parel, Mumbai Total area (Acres) (mixed use 7.8 development) Estimated total saleable area (m 1.40 sq.ft.) Estimated total units 279 Expected first handover month Dec-19 • Located in Parel SBD, on the Golden mile, beautified by IBREL. • Simplex and Duplex Proje
Slide 31: Planned launch – Thane
Planned launch – Thane Project details • Residential Project in the Heart of Thane, with direct access from Eastern Expressway • Net development area of 7.22 acres • The total saleable area of the project is 1.40 m sq ft. • Currently under planning and expected to be launched in FY 17 • The project
Slide 32: Planned launch – 22 Hanover Square, London
Planned launch – 22 Hanover Square, London Located in Mayfair, an area bounded by Piccadilly, Park Lane, Oxford Street and Regent Street, in London’s West End is one of the world’s most exclusive business, residential and leisure districts. Acquired in July 2014 from the Scottish Widows Investment P
Slide 33: Thank you
REAL ESTATE Thank you 32
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