Prozone Realty Ltd · NSE:PROZONER
Prozone Realty — Prozone Intu Properties — Q3 FY2019 Earnings Presentation
39 slides from Prozone Realty's earnings presentation, Feb 14, 2019
Slide 1: Intimation of Conference Call and Presentation
prozone intu Dated: 14th February 2019 National Stock Exchange of India Limited BSE Limited Exchange Plaza Listing Department Bandra Kurla Complex, Bandra (E) P.J. Towers, Dalal Street, Fort Mumbai 400 051 Mumbai 400 001 Scrip: PROZONINTU Scrip: 534675 Dear Sir/Madam, Subject: Intimation of Conferen
Slide 2: Upward And Forward: Q3 FY19 Results Update Presentation
Upward Q3 FY19 RESULTS UPDATE PRESENTATION And Forward February 2019 PROZONE INTU PROPERTIES LIMITED 0
Slide 3: Table of Contents
TABLE OF CONTENTS 01 Quarterly Business Update 02 Financial Results 03 Asset Snapshot 04 Annexure 1
Slide 4: Quarterly Business Update
prozone QUARTERLY BUSINESS UPDATE intu W@W
Slide 5: Q3 FY19 Key Highlights: Revenue Acceleration Mode
Q3 FY 19 – KEY HIGHLIGHTS : PROZONE AT REVENUE ACCELERATION MODE Revenues (Rs. Mn) Revenues Mix (Rs. Mn) 400.0 400.0 350.0 350.0 300.0 300.0 204.5 250.0 250.0 200.0 200.0 153.8 20.2% 339 282 150.0 150.0 100.0 100.0 50.0 50.0 128.5 134.7 0.0 0.0 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Sale of Premises Sale o
Slide 6: Q3 FY19 Key Highlights: Strong Revenue with Improved Margin
Q3 FY 19 – KEY HIGHLIGHTS STRONG REVENUE WITH IMPROVED MARGIN LEADING TO HIGHER PROFIT EBIDTA & EBIDTA Margin* Cash PAT (%) 50.3% 54.7% 140.0 240.0 50.0% 120.0 220.0 200.0 40.0% 100.0 180.0 30.0% 160.0 80.0 140.0 20.0% 120.0 30.4% 204 60.0 38.0% 98 100.0 10.0% 80.0 60.0 157 0.0% 40.0 71 40.0 20.0 -1
Slide 7: Q3 FY19 Results Highlights
Q3 FY19 RESULTS HIGHLIGHTS 01 Strong Quarterly Revenue o Revenue during the quarter recorded 20% increase, with higher revenue from retail assets o Revenue recognition will remain at elevated level as PTC will continue to flow in P&L and gradual recognition will come from Nagpur residential 02 EBITD
Slide 8: Q3 FY19 Results Highlights: PAT and Operating Parameters
Q3 FY19 RESULTS HIGHLIGHTS 03 Continuing from last quarter, PAT remains positive o As Coimbatore Mall see better traction, gradual improvement in PAT continues o Cash PAT reported during quarter was Rs 98 mn 04 Strong Operating Parameters o Occupancy achieved of 89% at Coimbatore Mall & 85% at Auran
Slide 9: Accolades
ACCOLADES Prozone Mall Aurangabad & Coimbatore wins ET Global Award for Retail Excellence 7
Slide 10: Financial Results: Consolidated Income Statement
FINANCIAL RESULTS: CONSOLIDATED INCOME STATEMENT Rs. Mn. Q3 FY19 Q3 FY18 YoY Q2 FY19 QoQ 9M FY19 9M FY19 YoY Revenue from Real Estate Projects 134.7 128.5 4.9% 202.1 -33.3% 336.8 287.1 17.3% Lease Rental & Related Income 204.5 153.8 33.0% 192 6.5% 566.6 348.6 62.5% Total Income from operations 339.2
Slide 11: Prozone Intu on a Strong Footing
PROZONE INTU ON A STRONG FOOTING Aurangabad and Coimbatore mall leased out space currently stands at 85% and 89% 01 respectively, annuity income to increase significantly with ramp-up of Coimbatore mall Coimbatore Mall successfully completed one year of operations and achieved close to 02 90%
Slide 12: Current Focus Areas
CURRENT FOCUS AREAS 01 Letting out the balance space and also maintain effective Brand mix by AURANGABAD MALL undertaking churn at the mall. Mall leasing should gradually move towards 90% at Aurangabad 02 Leasing stands at 89%, working towards further increasing occupancy COIMBATORE MALL With
Slide 13: Asset Snapshot
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Slide 14: Operating/Development Assets
OPERATING/DEVELOPMENT ASSETS Aurangabad Mall Nagpur Mall Nagpur Residential Coimbatore Mall Aurangabad PTC Coimbatore Residential 12
Slide 15: Retail – Aurangabad Mall Update
RETAIL – AURANGABAD MALL UPDATE Key Operating Parameters Q3 FY19 Gross Leased Area (lakh sq.ft.) 5.93 Current Leasing Status 85% Number of Stores Signed 112 Retailer Sales (Rs. Mn.) 702 Average Monthly Trading Density (Rs/sqft) 580 Footfalls (Mn.) 3.1 Occupancy Footfall & Trading Density 31.7 1.08 2
Slide 16: Empire Mall (Aurangabad) – Financial Snapshot
EMPIRE MALL (AURANGABAD) – FINANCIAL SNAPSHOT Operational Details (Rs. Mn.) Q3 FY19 Q2 FY19 Q1 FY19 Q4 FY18 Q3 FY18 Area Leased (lakh sq. ft.) 5.93 5.73 5.65 5.43 5.67 % Leased 85% 83% 80% 78% 80% Sale of Premises 134.7 202.1 - 60.3 34.9 Rental Income 56.9 52.5 46.9 56.7 46.9 Recoveries (CAM & Other
Slide 17: New Stores Opened at Aurangabad Mall
NEW STORES OPENED at AURANGABAD MALL 15
Slide 18: New Stores Opened at Aurangabad Mall
NEW STORES OPENED at AURANGABAD MALL 16
Slide 19: Brand Partners at Aurangabad Mall
BRAND PARTNERS AT AURANGABAD MALL 17
Slide 20: Events at Aurangabad Mall
EVENTS AT AURANGABAD MALL Navratri at Prozone Kids Fashion Show – Creative Group Fashion Show – Pantaloons Christmas Carnival 18
Slide 21: Commercial Update Aurangabad – PTC Phase 1 OC Received
COMMERCIAL UPDATE AURANGABAD – PTC PHASE 1 OC RECEIVED Prozone Trade Center (PTC) Phase 1 Q3 FY 2018-19 Total Area Launched (sqft) 190,318 Total Units Launched (No) 117 Total Area Sold (sqft) 140,046 % Total Area Booked 74% Avg. Sale Rate per sqft (Rs) 3,388 • Expect net cash inflows of ~Rs. 177 Mn.
Slide 22: Commercial Update Aurangabad – PTC Phase 1
COMMERCIAL UPDATE AURANGABAD – PTC PHASE 1 Buyers Fit out in Progress Buyers Fit out in Progress 20
Slide 23: Financial Snapshot - Coimbatore Mall
FINANCIAL SNAPSHOT - COIMBATORE MALL Key Operating Parameters Q3 FY19 Gross Leased Area (lakh sq.ft.) 4.47 Current Leasing Status 89% Number of Stores Signed 120 Retailer Sales (Rs. Mn.) 760 Average Monthly Trading Density (Rs/sqft) 816 Footfalls (Mn.) 2.2 Occupancy Footfall & Trading Density 22.1 8
Slide 24: Financial Snapshot - Coimbatore Mall
FINANCIAL SNAPSHOT - COIMBATORE MALL Operational Details (Rs. Mn.) Q3 FY19 Q2 FY19 Q1 FY19 Q4 FY18 Q3 FY18 Area Leased (lakh sq. ft.) 4.47 4.47 4.45 4.42 4.37 % Leased 89% 89% 89% 88% 87% Rental Income 68.4 62.5 57.7 42.8 48.2 Recoveries (CAM & Other) 38.3 38.2 29.9 28.2 24.1 Total Income 106.7 100.
Slide 25: New Store Opening at Coimbatore Mall
NEW STORE OPENING AT COIMBATORE MALL 23
Slide 26: Retail – Strong Brands at Coimbatore Mall
RETAIL – STRONG BRANDS AT COIMBATORE MALL 24
Slide 27: Events at Coimbatore Mall
EVENTS AT COIMBATORE MALL Flash Mob by IIT Palakkad Dandiya Pesum Bommaigal organized by Jewel one Christmas Carnival 25
Slide 28: Project Update - Coimbatore - Residential
PROJECT UPDATE - COIMBATORE - RESIDENTIAL ______________________________ Coimbatore Residential (CGI) • ~1.9 m sqft of residential ______________________________ • 7 towers of 18 floors comprising 1,152 apartments ______________________________ • 3 towers of 18 floors comprising 540 apartments plann
Slide 29: Project Update – Nagpur
PROJECT UPDATE – NAGPUR ______________________________ • 0.5m sqft of retail space Nagpur mall design (CGI) under advanced stage of approvals • 0.39m additional development potential ______________________________ • 4.5m catchment population ______________________________ • 15.7 acres of residential
Slide 30: Nagpur Residential Tower Nearing Completion
NAGPUR RESIDENTIAL TOWER NEARING COMPLETION 28
Slide 31: Project Update - Indore Residential
PROJECT UPDATE - INDORE RESIDENTIAL Indore township design (CGI) • 1.9m city population • Prominent business and industrial centre in Madhya Pradesh ______________________________ • 43.5acres comprising residential township with 5 acres for commercial to be developed in phases • Phase 1&2 is for plo
Slide 32: Disclaimer
DISCLAIMER Generic Disclaimer The following is a general overview of Prozone INTU Limited (the “Company”) and is qualified in its entirety by reference to the applicable offering memorandum, memorandum and articles of association or other constitutional documents and subscription agreement (together
Slide 33: Thank You
THANK YOU Email: investorservice@prozoneintu.com Nachiket Kale Website: www.prozoneintu.com Dickenson IR Contact: 9920940808 Email: nachiket.kale@dickensonIR.com Website: www.dickensonir.com 31
Slide 34: Annexure
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Slide 35: About Us
ABOUT US • Prozone Intu Properties Ltd. (Prozone Intu) is jointly developed by Promoters and Intu Properties Plc set up to create, develop and manage world-class regional shopping centres and associated mixed-use developments Pan-India. BUSINESS • Prozone Intu strategy is to participate and dominate
Slide 36: Understanding Our Business Model - Business Strategy
UNDERSTANDING OUR BUSINESS MODEL - BUSINESS STRATEGY Business Strategy • Develop Large scale Land Parcels for Mixed Use development. • 75% of the Land to be developed as Residential & Commercial – Build & Sell model • 25% of the Land to be developed as Retail – Build & Lease Model • The Company foll
Slide 37: Understanding Our Business Model - Business Strategy
UNDERSTANDING OUR BUSINESS MODEL - BUSINESS STRATEGY Regional Malls Yield under own Lease Management Model Debt Free Large scale Assets land parcels FUTURE for mixed use Profits & GROWTH developments Shareholder Residential & Cash Value Commercial Sales Developments Model • Locations selected in hig
Slide 38: Our Board of Directors
OUR BOARD OF DIRECTORS Nikhil Chaturvedi John Abel (Director Emeritus) Dushyant Sangar Founder and Managing Director, Mr John Abel joined the Liberty Intl Mr. Dushyant Sangar is the Corporate Nikhil is a visionary and hands-on Group in 1972 and was appointed an Development Director of Intu leader, w
Slide 39: Trading Update
TRADING UPDATE Shareholding in % – Dec 2018 Others, Promoters 29.0% , 31.0% FII, 7.7% Intu Properties, 32.4% Market Data As on 08.02.19 (BSE) Key Investors Holding (%) Market Capitalisation (Rs Mn) 4,181 ACACIA Partners 1.5% Price (Rs) 27.8 Aditya Chandak & Family 1.8% No. of Shares Outstanding (Mn)
Prozone Intu Properties — Q3 FY2019 Earnings Presentation on 6ix