Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q2 FY23 Earnings Presentation
47 slides from Prestige Estates Projects's earnings presentation, 2022
Slide 1: Q2 FY23 Investor Presentation
PRESTIGE ESTATES PROJECTS LTD Q2 FY23 INVESTOR PRESENTATION 1
Slide 2: Agenda
2 AGENDA Q2 FY23 01. 02. 03. 04. MUMBAI KEY HIGHLIGHTS SEGMENT ANALYSIS MANAGEMENT PROJECTS • Business Snapshot • Residential • Residential • Board of Directors • Scale of Operation • Commercial • Commercial • Leadership Team • Operational Highlights • Retail • Financial Highlights • Hospitality • D
Slide 3: Business Snapshot
BUSINESS SNAPSHOT 3 36 12+ 272 52 47 YEARS CITIES PROJECTS ONGOING UPCOMING OF LEGACY DELIVERED PROJECTS PROJECTS (154 mn sft) (78 mn sft) (79 mn sft) 70 mn sft DA1+ A+ STABLE CRISIL LAST 5 YEARS ICRA COMPLETION GRADING RATING www.prestigeconstructions.com
Slide 4: Scale of Operation
4 SCALE OF OPERATION 4 COMPLETED PROJECTS RESIDENTIAL COMMERCIAL RETAIL HOSPITALITY TOTAL COMPLETED 135 104 mn sft 116 37 mn sft 12 9 mn sft 9 4 mn sft 272 154 mn sft ONGOING PROJECTS RESIDENTIAL COMMERCIAL RETAIL HOSPITALITY TOTAL ONGOING 33 46 mn sft 15 28 mn sft 1 1 mn sft 3 3 mn sft 52 78 mn sft
Slide 5: Operational Highlights
PRESTIGE TECHZONE EPIP, Whitefield OPERATIONAL HIGHLIGHTS Q2 FY23 | H1 FY23 www.prestigeconstructions.com
Slide 6: Operational Highlights - Q2 FY23
OPERATIONAL HIGHLIGHTS - Q2 FY23 35,110 66% 26,029 68% Sales Sales Growth Collections Collections Growth ₹ mn YOY ₹ mn YOY 4.55 7,711 3,210 35 7.39 2.58 Area Sold Average Realization Units Sold Units Sold Launches Completions mn sft ₹ psf in Q2 FY23 Per Day (Avg) mn sft mn sft www.prestigeconstructi
Slide 7: Operational Highlights - H1 FY23
OPERATIONAL HIGHLIGHTS - H1 FY23 65,231 129% 47,493 85% Sales Sales Growth Collections Collections Growth ₹ mn YOY ₹ mn YOY 8.18 7,976 5,774 32 17.06 3.35 Area Sold Average Realization Units Sold Units Sold Launches Completions mn sft ₹ psf in H1 FY23 Per Day (Avg) mn sft mn sft www.prestigeconstruc
Slide 8: Geography Wise Sales - Q2 FY23
8 GEOGRAPHY WISE SALES - Q2 FY23 30,000 26,236 25,000 20,000 15,000 10,000 4,336 5,000 3,118 743 382 159 136 - Values in ₹ mn 4 www.prestigeconstructions.com
Slide 9: New Launches – Q2 FY23
Prestige Liberty Towers, Worli Mumbai NEW LAUNCHES – Q2 FY23 Developable # Project Launched Location Segment Area (mn sft) 1 Prestige Liberty Towers Mumbai Commercial 4.10 2 The Prestige City - Meridian Park Ph III Bengaluru Residential 1.81 3 Prestige Orchards Hyderabad Residential 1.11 4 Bellanza
Slide 10: Completions – Q2 FY23
COMPLETIONS – Q2 FY23 Developable # Project Completed Location Segment Area (mn sft) 1 Forum Falcon City Mall Bengaluru Retail 1.34 2 Prestige Park Drive Ph I&II Bengaluru Residential 0.66 3 Prestige Minsk Square Bengaluru Commercial 0.58 Total 2.58 Forum Falcon City Mall Bengaluru 10
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS Q2 FY23 | H1 FY23 www.prestigeconstructions.com
Slide 12: Financial Highlights – Q2 FY23
FINANCIAL HIGHLIGHTS – Q2 FY23 14,747 4,156 1,492 Revenue EBITDA PAT ₹ mn ₹ mn ₹ mn 28.18% 10.12% EBITDA PAT % % www.prestigeconstructions.com
Slide 13: Financial Highlights – H1 FY23
FINANCIAL HIGHLIGHTS – H1 FY23 34,865 9,506 4,003 Revenue EBITDA PAT ₹ mn ₹ mn ₹ mn 27.27% 11.48% EBITDA PAT % % www.prestigeconstructions.com
Slide 14: Segment Wise Results and Capital Employed
SEGMENT WISE RESULTS AND CAPITAL EMPLOYED (in INR Million) Others 6M 2022-23 Office Retail Hospitality Services Residential Total (Note 1) Revenue 936 250 3,017 3,452 24,055 1,952 33,662 EBITDA (excluding other income) 627 150 1,039 484 4,051 1,952 8,303 EBITDA % 67% 60% 34% 14% 17% 100% 25% Depreci
Slide 15: Segment Wise Results and Capital Employed
SEGMENT WISE RESULTS AND CAPITAL EMPLOYED (In INR Million) 6M 2022-23 Office Retail Hospitality Services Residential Total Equity A 35,202 10,120 20,565 1,031 26,889 93,807 Debt (including ongoing capex) B 12,548 3,982 9,564 12 31,846 57,952 Debt taken for ongoing capex project C 7,096 - - - - 7,096
Slide 16: Debt Profile – Q2 FY23
DEBT PROFILE – Q2 FY23 0.41 DEBT EQUITY RATIO Project Debt - Residential 16% & Commercial for sales ₹40,470 mn Office Space 17% 52% NET DEBT Hospitality 9.56% 15% Lease Rental Discounting AVERAGE BORROWING COST www.prestigeconstructions.com 16
Slide 17: Segment Analysis Q2 – FY23
17 SEGMENT ANALYSIS Q2 – FY23 www.prestigeconstructions.com
Slide 18: Residential Portfolio
Prestige Song Of The South Bengaluru RESIDENTIAL PORTFOLIO 18 COMPLETED ongoing upcoming HOMES SOLD 135 33 28 100K+ 104 mn sft 46 mn sft 57 mn sft STOCK BREAK-UP STOCK VALUE % Category Area mn sft Value in ₹ mn Ongoing-Premium & Ongoing-Premium & Luxury Luxury Projects Projects 0.210 8,963 13% 14% O
Slide 19: Ongoing Residential
Ongoing Residential Bengaluru (18 Projects) Hyderabad (3 Projects) Prestige Elysian 1.11 30.6% 0.34 Prestige Tranquil 2.24 73.0% 1.64 33 46 Prestige Fairfield 0.54 27.0% 0.15 Prestige Beverely Hills 2.24 73.0% 1.63 Projects mn sft Prestige Finsbury Park- Regent 1.81 60.0% 1.09 Prestige Orchards 1.11
Slide 20: Upcoming Residential
Upcoming Residential Bengaluru (17 Projects) Hyderabad (4 Projects) Prestige Glenbrook 0.66 100.0% 0.66 Prestige Rock Cliff 0.71 55.0% 0.39 28 57 Prestige Maple Heights 0.28 65.0% 0.18 Prestige Clairmont - Kokapet 3.26 100.0% 3.26 Prestige Misty Waters- Phase III 0.40 62.0% 0.25 The Prestige City @
Slide 21: Commercial Portfolio
21 COMMERCIAL PORTFOLIO 21 Prestige Liberty Towers, Worli Mumbai COMPLETED ONGOING UPCOMING TENANTS WorkForce 116 15 10 400+ 450, 000 37 mn sft 28 mn sft 15 mn sft 450, 000 26447 PROJECTED ANNUITY INCOME STEP UP (₹ mn) EXIT RENTALS ₹1,685 mn 16637 INCREMENTAL RENTALS 9338 ₹415 mn 4366 6276 ANNUITY I
Slide 22: Ongoing Commercial
Bengaluru (10 Projects) Ongoing Commercial Prestige Tech Cloud 4.65 86% 4.00 22 Prestige Tech Park IV (Adobe) 0.59 100% 0.59 15 28 Prestige Tech Hub 1.23 60% 0.74 Prestige Summit 0.19 50% 0.09 Projects mn sft Prestige Tech Pacific Park 1.65 63% 1.04 Prestige Tech Park IV 1.05 50% 0.53 Prestige Tech
Slide 23: Upcoming Commercial
Upcoming Commercial 23 10 Projects 15 mn sft Bengaluru (6 Projects) Prestige Capital Square 0.17 65% 0.11 Prestige Techzone 1.78 67% 1.19 Prestige Tech park 5 0.13 100% 0.13 Prestige Landmark 2.96 55% 1.63 Prestige Tech Habitat 0.92 72% 0.66 Prestige 13 North Commercial 0.14 100% 0.14 Total 6.10 63.
Slide 24: Retail Portfolio
24 RETAIL PORTFOLIO 24 The Collection, UB City Bengaluru COMPLETED ongoing upcoming 12 1 5 9 mn sft 1 mn sft 6 mn sft PROJECTED 5101 ANNUITY INCOME STEP UP (₹ mn) EXIT RENTALS ₹788mn 2175 2175 2175 INCREMENTAL RENTALS 1758 ₹1,388mn ANNUITY INCOME FY27 ₹5,101 mn FY23 FY24 FY25 FY26 FY27 www.prestigec
Slide 25: Ongoing and Upcoming Retail
Upcoming Retail Ongoing Retail 5 Projects 5.71 mn sft 1 Project 1.02 mn sft Bengaluru Forum 13o North 1.13 100% 1.13 The Prestige City 0.98 60% 0.59 Kochi Forum Thomsun 1.02 50% 0.51 Chennai Forum One OMR 1.96 85% 1.66 Kochi Forum Neighbourhood Mall 0.69 70% 0.48 Table Header Hyderabad Developable E
Slide 26: Hospitality Portfolio (2935 Keys)
26 9 HOSPITALITY PORTFOLIO (2935 Keys) 26 Completed Projects 3.67 mn sft COMPLETED HOTELS 3 1368 KEYS | 9 HOTELS | 3.67 mn sft Ongoing Project 3.01 mn sft 4 Upcoming Projects 1.08 mn sft Conrad Bengaluru REVENUE POTENTIAL 10,307 MN ONGOING HOTELS Upcoming HOTELS 1,321 1009 KEYS | 4 HOTELS | 3.01 mn
Slide 27: Property Management
PROPERTY MANAGEMENT 175 105 PROJECTS UNDER PROJECTS IN MAINTENANCE PIPELINE 110 MN SFT 155 MN SFT ₹ 1,447 mn ₹ 10,000 mn Q2 FY23 GROSS REVENUE FUTURE POTENTIAL 27 www.prestigeconstructions.com
Slide 28: Mumbai Projects
MUMBAI PROJECTS Residential Commercial A A The Prestige City, Mulund B Prestige Daffodils C Jijamata Nagar D Prestige Jasdan Classic B F E Prestige Ocean Towers C F Prestige 101 (BKC) GD G Prestige Liberty Towers E 28
Slide 29: Residential - Mumbai Projects
RESIDENTIAL - MUMBAI PROJECTS PEPL Share of Sales Carpet Area Expected Total Sale value S.No. Project PEPL % Value Mn sf Selling Price In Mn In Mn Ongoing Residential 1 Prestige Jasdan Classic 0.33 45,100 14,660 100 14,660 2 The Prestige City Mulund Bellanza 0.97 23,000 22,080 100 22,080 Upcoming Re
Slide 30: Commercial - Mumbai Projects
COMMERCIAL - MUMBAI PROJECTS PEPL Share of PEPL Projected Rental Total Leasable Expected Total Sale value Projected S.No. Project PEPL % Sales Value PA (in case of leasing) Area Mn sf Selling Price In Mn Rent/Sf In Mn In Mn Ongoing Commercial 1 Prestige Liberty Towers 2.74 35,000 95,781 50 47,890 30
Slide 31: Land Bank
LAND BANK Land Area Economic Prestige S.No. Entity Name Location (Acres) Interest Share (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi,Bengaluru 143 100% 143 2 Eden Investments Goa 74 78% 58 3 Prestige Estates Projects Ltd Zenith,Perumbakam/Chennai 20 66% 13 4 The QS Company Padil Mangalore 17 10
Slide 32: Management Team
PRESTIGE ALPHATECH Kharadi , Pune MANAGEMENT TEAM • Board of Directors • Leadership Team 32 www.prestigeconstructions.com Artist’s Impression
Slide 33: Board of Directors
BOARD OF DIRECTORS Irfan Razack Rezwan Razack Noaman Razack Chairman and Managing Director Joint Managing Director Whole-time Director www.prestigeconstructions.com
Slide 34: Board of Directors
BOARD OF DIRECTORS Jagdeesh K. Reddy Uzma Irfan Dr. Pangal Ranganath Nayak Biji George Koshi Independent Director Director Independent Director Independent Director 34 Noor Ahmed Jaffer Neelam Chhiber Independent Director Independent Director www.prestigeconstructions.com
Slide 35: Leadership Team
LEADERSHIP TEAM Venkat K. Narayana Nawabzada Omer Bin Jung Anjum Jung Zackria Hashim CEO- Prestige Group Executive Director- Hospitality Executive Director- Executive Director- Land Acquisition Interior Designs Mohmed Zaid Sadiq Faiz Rezwan Executive Director- Executive Director- Liaison and Hospita
Slide 36: Leadership Team
LEADERSHIP TEAM Zayd Noaman Nayeem Noor T. Arvind Pai V. Gopal Executive Director- CMD’s Office Executive Director- Executive Director- Legal Executive Director- Projects and Planning Government Relations Swaroop Anish Suresh Singaravelu Executive Director- Executive Director- Retail, Business Devel
Slide 37: Leadership Team
LEADERSHIP TEAM Jagdeep Singh Marwaha Lt Col. Milan Khurana (Retd.) Manoj Krishna J.V CEO- Prestige Office Ventures Executive Director- HR, IT and Admin Company Secretary and Compliance Officer Tariq Ahmed CEO-West India & Amit Mor ED-Corporate Development Chief Financial Officer www.prestigeconstru
Slide 38: Thank You
PRESTIGE TRADE CENTER Aerocity, Delhi Artist’s Impression Thank You For any queries, please contact, E: investors@prestigeconstructions.com Registered Office-No. 19, Brunton Road, (Off M.G Road) Bangalore 560 025 Landmark - Trinity Metro Station T: +91 -80 –25001 248 F: + 91 –80 -25591945 Website: w
Slide 39: Disclaimer
DISCLAIMER This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which ar
Slide 40: Annexures
ANNEXURES www.prestigeconstructions.com
Slide 41: Exit Rentals – Commercial
EXIT RENTALS – COMMERCIAL Total Economic Economic Area Leased Rent P.A S.No. Project Name Leasable Area (Mnsqft) Interest (%) Interest Prestige Share (Mnsqft) (Annualised) (Rs Mn) 1 Prestige Logistic Centre 0.39 100.00 0.39 0.39 84.83 2 Prestige Polygon 0.34 100.00 0.34 0.34 351.69 3 West Palm Devel
Slide 42: Commercial Portfolio Potential (30.82 mn sft GLA)
COMMERCIAL PORTFOLIO POTENTIAL (30.82 mn sft GLA) Area in Mnsqft Value in ₹ Million OPERATING ONGOING UPCOMING TOTAL GLA 3.49 14.92 12.40 30.82 Economic Interest 2.79 8.75 7.48 19.03 Rentals p.a. ₹ 2,322 22,298 23,654 48,275 Economic Interest ₹ 1,685 12,126 12,636 26,447 Annuity income portfolio in
Slide 43: Exit Rentals - Retail
EXIT RENTALS - RETAIL Total Area Leased Rent P.A Economic Economic S.No. Project Name Leasable Area Prestige Share (Annualized) Interest (%) Interest (Mnsqft) (Mnsqft) (Rs Mn) 1 Forum Sujana Mall Hyderabad 0.81 15.00 0.12 0.12 148.79 2 Forum Fiza Mall 0.66 10.20 0.07 0.07 30.53 3 Forum Vijaya Mall 0
Slide 44: Incremental Rentals – Retail
INCREMENTAL RENTALS – RETAIL Total Economic Area Leased Rent P.A. S.No. Project Name Leasable Area Interest (%) Prestige Share (Rs Mn) 1 Forum Falcon City Mall Bangalore 0.95 66% 0.62 974 2 Forum Thomsun Kochi 0.66 50% 0.33 414 1.61 0.95 1,388 www.prestigeconstructions.com
Slide 45: Retail Portfolio Potential (9.98 mn sft GLA)
RETAIL PORTFOLIO POTENTIAL (9.98 mn sft GLA) Area in Mnsqft Value in ₹ Million OPERATING ONGOING UPCOMING TOTAL GLA 4.44 1.61 3.93 9.98 Economic Interest 0.64 0.95 2.70 4.29 Rentals p.a. ₹ 4,994 2,309 4,369 11,671 Economic Interest ₹ 788 1,388 2,926 5,101 Annuity income portfolio in the near term ww
Slide 46: Hospitality Portfolio Potential (2935 Keys)
HOSPITALITY PORTFOLIO POTENTIAL (2935 KEYS) Area in Mnsqft UNDER Value in ₹ Million OPERATING CONSTRUCTION UPCOMING TOTAL Total Keys 1,368 881 686 2,935 Economic Interest 1,211 492 553 2,255 Total Revenue p.a. ₹ 6,823 3,558 1,816 12,197 Economic Interest ₹ 6,727 1,916 1,664 10,307 www.prestigeconstr
Slide 47: Ongoing & Upcoming – Hospitality
ONGOING & UPCOMING – HOSPITALITY ONGOING S.No. Project Keys State/City TDA in Mn Sft Economic Interest % %Prestige Share (Mnsft) St Regis & Marriott Marquis DIAL 1 779 Delhi 2.79 50 1.39 Tribute Portfolio - Prestige 2 102 Bengaluru 0.12 100 0.12 Mulberry Shades 3 MOXY - Prestige Tech Cloud 128 Benga
Prestige Estates Projects — Q2 FY23 Earnings Presentation on 6ix