Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Q3 FY19 Earnings Presentation
41 slides from Mahindra Lifespace Developers's earnings presentation, Jan 28, 2019
Slide 1: Exchange intimation letter under SEBI LODR Regulation 30
mahindra Mahindra Lifespace Developers Ltd. LIFESPACES CIN. L4F,200rv1H1f'>98PLC118:J,m Mahindra Towers, 5r.h Fk.;01·, Dr. G. M, Bhosale Marg, VVorli, Mumbai 400 018. lndlo Tel: +91 22 67478000 / 8601 Fm:: +SJi 22 2497508Ll w1t,1w,1111:1hlndr·a!ifer;puces.com 281h January, 2019 Bombay Stock Exchange
Slide 2: Investor Presentation – Q3 FY19
Artist’s impression of ‘HAPPINEST PALGHAR’ Investor Presentation – Q3 FY19 1
Slide 3: Contents
Contents ▪ Q3 FY19 Highlights ▪ Residential Business Update ▪ Integrated Cities & Industrial Clusters Update ▪ Financial Update 2
Slide 4: Q3 FY19 Highlights
Q3 FY19 Highlights The operating highlights from Slide 4 to Slide 25 are for the Company and its subsidiaries / joint ventures / associates engaged in the real estate business (mainly MLDL, MHPL, MBDL, MITL, MRDL, MHDL, MWCDL, MWCJL, MIPCL & MIPPL) Disclaimer: The Company has registered its ongoing
Slide 5: Business Highlights – Q3 FY19
Business Highlights – Q3 FY19 o Achieved Q3 sales of 0.35 msft valued at Rs. 215 Crs, leading to 9M FY19 sales of 1.04 msft, valued at Rs. 616 Crs. o Attained Q3 collection of Rs. 195 Crs, leading to 9M FY19 collection of Rs. 662 Residential * Crs. o Completed Phase IIIA of Antheia, Pune having 0.16
Slide 6: Financial Highlights – Q3 FY19
Financial Highlights – Q3 FY19 All figures in Rs. Crs For MLDL Consolidated Q3 2019 9M 2019 (As per IND AS) Total Income 137 407 EBIDTA 25 121 PAT 21 88 Net Debt 3.6 Net Worth 1974 5
Slide 7: Residential Business Update
Residential Business Update 6
Slide 8: Sales – Quarterly Trend
Sales – Quarterly Trend 538 0.40 0.35 0.36 0.29 0.25 345 350 316 256 217 215 156 163 144 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Sales Value (Rs. Crs) Units Sold Saleable Area (msft) Roots Lakewoods I Palghar 1 (Ph IV) letions Launches Boisar IV Palghar 1 (Ph I & II) Bloomdale IVB Palghar 1 (Ph III)
Slide 9: Sales - City and Price Segment wise
Sales - City and Price Segment wise Q3 FY19 City-wise Sales (Volume) Q3 FY19 City-wise Sales (Value) 14% MMR MMR 19% 22% 26% Pune Pune 12% Nagpur Nagpur 7% 1% NCR NCR 1% 8% Hyderabad Hyderabad 13% Chennai Chennai 31% 10% 29% Bengaluru Bengaluru 7% Q3 FY19 Price Segment-wise Sales (Volume) Q3 FY19 Pr
Slide 10: Operating Metrics
Operating Metrics Construction Spend (Rs. Crs) Customer Collections (Rs. Crs) 117 249 218 92 199 195 82 83 64 142 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 No. of Units Handed over to Clients Area Completed (msft) 399 0.44 364 318 0.33 229 0.25 175 0.16 Q3 FY18
Slide 11: Project Portfolio
Project Portfolio Location Saleable Area 2 (msft) Ongoing Forthcoming Land Inventory MMR** 0.85 2.17 0.941 Pune 0.41 0.33 - Nagpur 0.83 0.20 - NCR* 0.77 0.37 - Bengaluru 0.43 0.74 - Chennai 0.85 1.19 9.50 Total 4.14 5.01 10.44 Total Completed Development – 15.39*** msft * NCR includes Delhi, Gurgaon
Slide 12: Summary of Ongoing and Forthcoming Projects
Summary of Ongoing and Forthcoming Projects All figures in msft Total Launched Completed Ongoing Balance (To Company / Region Project Name Development Development Development Development be launched) SPV A B C D E = (A-C-D) MMR Serenes MLDL 0.16 0.06 - 0.06 0.09 Vivante MLDL 0.16 0.16 - 0.16 - Roots
Slide 13: Development mix of Ongoing Projects
Development mix of Ongoing Projects Indicative Area Range Region Project Name Location Segment Development Mix Prices Saleable (sqft) (Rs. Crs) MMR Serenes Alibaug Luxury 3, 4 BHK Villas 3000 - 3400 3 - 3.5 Vivante Mumbai Mid-Premium 1, 2, 2.5 & 3 BHK 740 - 2041 1.5 - 4 Roots Mumbai Mid-Premium 1 &
Slide 14: Summary of Ongoing Projects (1/2)
Summary of Ongoing Projects (1/2) Launched PTD Sales RERA Area Sold Location Project Name Development* % Completion** Value Completion (msft) (msft) (Rs. Cr) Date*** MMR The Serenes I 0.06 0.02 76% 13.8 Aug-18 to Dec-21 Vivante 0.16 0.16 90% 268.2 Oct-19 Roots 0.14 0.07 37% 93.0 Sep-22 Happinest Boi
Slide 15: Summary of Ongoing Projects (2/2)
Summary of Ongoing Projects (2/2) Launched PTD Sales RERA Area Sold Location Project Name Development* % Completion** Value Completion (msft) (msft) (Rs. Cr) Date*** NCR Luminare I # 0.37 0.26 93% 337.7 Mar-20 Luminare II # 0.41 0.12 61% 167.4 Mar-21 Bengaluru Windchimes II - Tower III 0.18 0.09 76%
Slide 16: Ongoing Projects Snapshot (1/2)
Ongoing Projects Snapshot (1/2) Bloomdale 2B-1 (Dec’18) Bloomdale 2B-2 (Dec’18) Aqualily 2E – 2 (Dec’18) Vivante Tower B3 & B4 (Dec’18) Antheia IIIA (Dec’18) Lakewoods I (Dec’18) 15
Slide 17: Ongoing Projects Snapshot (2/2)
Ongoing Projects Snapshot (2/2) Luminare - Tower C (Dec’18) Windchimes II (Dec’18) Happinest Avadi – Ph III (Dec‘18) Happinest Palghar – Ph I (Dec‘18) Luminare - Tower A (Dec’18) 16
Slide 18: Forthcoming Projects
Forthcoming Projects Est. Saleable Area* Segment Location Name of the Project msft Subsequent Phases of Existing Projects MMR Serenes 0.09 Nagpur Bloomdale 0.20 Mid & Premium Residential Aqualily 0.07 Chennai Lakewoods 0.62 NCR Luminare # 0.37 Affordable Housing Chennai Happinest Avadi 0.10 TOTAL -
Slide 19: Balance Inventory in Completed Projects
Balance Inventory in Completed Projects Balance units Location Project Name Company MLDL Holding to sell * MMR Happinest Boisar MLDL 100% 34 Pune Antheia MLDL 100% 15 Bengaluru Windchimes MHPL 50% 19 Hyderabad Ashvita # MLDL 100% 8 Chennai Aqualily Apts A, B & C1 MRDL 96% 46 TOTAL 122 # Project unde
Slide 20: Cash Flow Potential
Cash Flow Potential Value Particulars ( Rs. Cr) Ongoing & Completed Sales completed in ongoing projects 1585 Projects Less : Amount collected from sales 762 Net amount to be collected on completed sales 823 Estimated sales from finished goods & balance inventory in ongoing projects # 1326 Less: Esti
Slide 21: Integrated Cities & Industrial Clusters Update
Integrated Cities & Industrial Clusters Update 20
Slide 22: Mahindra World City, Chennai – Business Update
Mahindra World City, Chennai – Business Update • Total number of customers: 77 (64 Operational) Total Area Procured – 1524 acres | Leasable Area – 1145 acres 425 425 422 408 298 271 Dorma Kaba facility in DTA SEZ DTA Resi & Social Total Leasable Area (in acres) Leased Area (in acres) 3.7 3.7 3.3 3.2
Slide 23: Mahindra World City, Jaipur – Business Update
Mahindra World City, Jaipur – Business Update Total Area Procured – 2913 acres | Leasable Area – 2011 acres • Total number of customers: 86 (52 Operational) • Signed 1 new customers & 2 existing customer 1026 expansion during Q2 FY19 695 ✓ Indo Autotech Ltd. (Existing customer - DTA): 3.37 Acres 405
Slide 24: Creating Economic Value
Creating Economic Value Mahindra World City Chennai Mahindra World City Jaipur 39,500 39,500 10,914 10,230 8,396 8,300 38,000 38,000 6,836 37,000 7,826 9,359 10,202 11,428 9,303 1,119 1,128 1,245 1,311 1,127 FY15 FY16 FY17 FY18 9M FY19 FY15 FY16 FY17 FY18 9M FY19 Exports (Rs. Crs.) Employment (Direc
Slide 25: Industrial Parks – Origins, Ahmedabad & North Chennai
Industrial Parks – Origins, Ahmedabad & North Chennai 340 286 Area in acres 221 206 Acquired additional land of 22 acres at Origins, North Chennai during 23 Q3 FY19. 0 Ahmedabad North Chennai Gross Area Leasable Area* Leased Area Ahmedabad Project Details: (Forthcoming) North Chennai Project Details
Slide 26: Recurring Rental Income
Recurring Rental Income Recurring Income (Rs. Crs) 25 21 20 20 20 20 Evolve, MWCJ 20 Total area 0.431 msft 15 Area leased 0.405 msft 10 Mahindra Towers, Delhi 5 Total area 0.056 msft 0 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Area leased 0.052 msft Park O&M and Water Charges, MWCJ Park O&M and Water
Slide 27: Financial Update
Financial Update 26
Slide 28: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated Statement of Profit and Loss All figures in Rs. Crs rounded off Particulars Q3 2019 Q2 2019 Q3 2018 9M 2019 9M 2018 Income Income from Operations 124.4 80.2 168.3 358.6 404.4 Other Income 13.0 13.7 17.3 48.4 59.1 137.4 93.9 185.6 407.0 463.5 Expenditure Operati
Slide 29: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated Balance Sheet All figures in Rs. Crs rounded off EQUITY & LIABILITIES Q3 2019 FY 2018 ASSETS Q3 2019 FY 2018 Property, Plant and Equipment 7.1 7.0 Equity Share capital 51.3 51.3 Capital work-in-progress 9.6 9.1 Other Equity 1,922.9 2,007.5 Investment Property 2
Slide 30: Key Highlights
Key Highlights Total Income (Rs. Crs)* Operating Income (Rs. Crs)* 186 168 181 176 162 154 137 124 94 80 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 EBITDA (Rs. Crs)* and EBIDTA Margin PAT (Rs. Crs)* and PAT Margin 44% 75 57% 48 41 42% 53 45 43 26 27 26% 15% 24% 2
Slide 31: Key Highlights
Key Highlights Gross Debt Equity Ratio* Net Debt Equity Ratio* 0.13 0.21 0.22 0.15 0.12 0.10 0.05 0.04 0.01 0.00 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Interest Rate 9.41% 9.49% 8.96% 8.84% 8.56% Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Interest rate has been
Slide 32: Residential and IC & IC Business Performance
Residential and IC & IC Business Performance 31
Slide 33: Residential and IC&IC Business Performance
Residential and IC&IC Business Performance All figures in Rs Crs unless specified Residential * IC & IC Particulars Q3 2019 9M 2019 Q3 2019 9M 2019 Area Sold (msft) / Land Leased (acres) 0.35 1.04 61.03 99.84 Sales / Lease Income 215 616 111 200 Total Income 111 537 129 257 EBIDTA 20 119 29 86 EBIDT
Slide 34: Summary of Key Financials by Legal Entities for Q3 FY19
Summary of Key Financials by Legal Entities for Q3 FY19 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total Entity Name Interest Income EBIDTA PAT Debt Net Worth MLDL 100.0% 134.4 21.6 15.4 90.8 1,746.5 MHPL^ 50.0% 40.3 5.6 0.5 # 894 (26.6) MBDL 70.0% 0.1 (1.0) (0.8) # 5
Slide 35: Summary of Key Financials by Legal Entities for 9M FY19
Summary of Key Financials by Legal Entities for 9M FY19 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total Entity Name Interest Income EBIDTA PAT Debt Net Worth MLDL 100.0% 384.8 81.6 52.7 90.8 1,746.5 MHPL^ 50.0% 301.6 50.8 24.9 # 894 (26.6) MBDL 70.0% 42.3 3.9 2.5 # 5
Slide 36: Annexures
Annexures 35
Slide 37: Structure Overview
Structure Overview Note: Overview includes asset owning SPVs only. Shareholding percentage are based on common equity capital in SPVs as on December 2018. Numbers are rounded to the nearest percentage. # MIPPL is a strategic partnership between MLDL and IFC. 36
Slide 38: Completed Projects
Completed Projects Area Area Area Area Location Name of the Project Location Name of the Project (mn sqm) (msft) (mn sqm) (msft) Mumbai Eminente 0.05 0.57 NCR Aura 0.13 1.36 Splendour 0.07 0.78 Chloris 0.04 0.39 Mahindra Park 0.02 0.19 Central Park 0.11 1.17 Mahindra Heights 0.01 0.06 Great Eastern
Slide 39: Glossary
Glossary Classification of projects is as under: a. Completed: projects where construction has been Actis Actis GP LLP completed and occupancy certificates have been DTA Domestic Tariff Area granted by the relevant authorities HDFC HDFC Capital Affordable Real Estate Fund-1 Capital b. Ongoing: proje
Slide 40: Disclaimer
Disclaimer ▪ This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Develo
Slide 41: Thank You
Thank You Investor Relations Contact Mr. Jayantt Manmadkar Mr. Sumit Kasat Chief Financial Officer General Manager – Finance & Investor Relations Phone : +91-22-67478660 Phone : +91-22-67478645 Email: manmadkar.jayantt@mahindra.com Email: kasat.sumit@mahindra.com Mahindra Lifespace Developers Limite
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