Puravankara Limited · NSE:PURVA
Puravankara — Q2 FY2015 Earnings Presentation
49 slides from Puravankara's earnings presentation, September 2014
Slide 1: Puravankara Projects Limited
Provident Welworth, Bengaluru Puravankara Projects Limited September 2014
Slide 2: Contents
Contents • Company Overview 3-8 • Area information 9 - 15 • Sales 16- 19 • Cash Flows 20- 23 • Income Statement Analysis 24 - 29 • Balance Sheet and Statement of Capital Employed 30 - 32 • Debt 33 - 34 • Shareholding Pattern/ Stock Movement 35 - 37 • Leadership 38 • Location Maps 39- 43 • Project Pi
Slide 3: Company Overview
PURAVANKARA Company Overview
Slide 4: Overview
Overview • Deep domain knowledge of 39 years of the Promoter Mr. Ravi Puravankara, and his team have established Puravankara as a developer of repute; • Amongst South India’s leading real estate developer with an established presence in residential segment comprising of luxury and premium affordable
Slide 5: Premium Affordable housing through Provident Brand
Premium Affordable housing through Provident Brand • Established Provident Housing Limited in 2008 to create mid and mass housing projects comprising quality affordable apartments in response to burgeoning demand for mid-income housing • Affordability is a combination of – Efficient design improving
Slide 6: Land Assets across various established micro-markets
Land Assets across various established micro-markets Land portfolio Developable area breakup in millions sq. ft. (msft) Completed Ongoing Upcoming Land Assets Total (A) (B) (C) (A)+(B)+(C) Bengaluru 17.89 16.14 10.19 39.58 65.91 Chennai 2.27 5.79 3.24 4.66 13.69 Kolkata 0.70 0.00 0.00 0.00 0.00 Koch
Slide 7: Ongoing and Upcoming Development
Ongoing and Upcoming Development By geography By entity By segment Upcoming 8% Upcoming 10% Upcoming 14% 2% 2% ongoing 5% ongoing 9% ongoing 31% 45% 37% 23% 63% 63% 95% 14% 86% 92% Bengaluru Chennai Kochi Puravankara Provident Coimbatore Hyderabad Mangalore Residential Commercial Ongoing Upcoming On
Slide 8: Summary of Financial Performance
Summary of Financial Performance Revenues (INR crores) EBITDA Profit Before Tax Profit After Tax 700 70% 400 356 40% 300 35% 1,313 595 1,248 61% 350 36% 35% 600 397 60% 250 30% 30% 480 300 196 30% 500 49% 48% 50% 29% 243 243 25% 47% 200 250 24% 24% 25% 816 400 40% 20% 19% 20% 294 37% 200 175 20% 150
Slide 9: Area Information
PURAVANKARA Area Information
Slide 10: Area Under Development – Snapshot
Area Under Development – Snapshot in millions sq. ft. (numbers in millions sq. ft.) FY11 FY12 FY13 FY14 H1FY15 Opening Area 16.35 21.12 23.74 28.04 28.43 Add: Launches during the period 1 7.32 5.80 7.28 4.26 1.12 Less: Completed during the period 2 (2.55) (3.18) (2.98) (3.87) (1.80) Less : Exit from
Slide 11: Current Project Status – 30 September 2014
Current Project Status – 30 September 2014 S.No. Project Location Developa Total JD / JV Puravankar On Area Launched ble Area Flats Share a's Share - for Developabl Area Sold Cumulative Inventory Develop e Area Launched er Msft Units % Msft Msft Nos Msft % Nos Mn sft % COMPLETED Puravankara 1 Venezi
Slide 12: Current Project Status – 30 September 2014 – (contd.)
Current Project Status – 30 September 2014 – (contd.) S.No. Project Location Developab Total Flats JD / JV Puravankar On Area Launched le Area Share a's Share - for Developable Area Sold Cumulative Inventory Develope Area Launched r Msft Units % Msft Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION P
Slide 13: Current Project Status – 30 September 2014 – (contd.)
Current Project Status – 30 September 2014 – (contd.) S.No. Project Location Developa Total Flats JD / JV Puravankar On Area Launched ble Area Share a's Share - for Developable Area Sold Cumulative Inventory Develop Area Launched er Msft Units % Msft Msft Nos Msft % Nos Mn sft % PHASES TO BE LAUNCHE
Slide 14: Geographic break up of Inventory Status
Geographic break up of Inventory Status Ready to move in Inventory - Total Ready to move in Inventory - By Entity Kochi 0.53 msft; 284 units Bengaluru 1.09 msft; 876 Puravankara units 1.25msft; 702 units Chennai 0.69 msft; 542 units Provident 1.06 msft; 1,000 units Notes:: Charts based on area in ms
Slide 15: Immediate Launches - Schedule
Immediate Launches - Schedule S. No Location City Development Development Developable PPL Saleable Current Status Expected Model Type Area Share in Area Launch Date JD Msft Msft Puravankara 1 Pudupakkam Chennai Own Residential 2.00 100% 2.00 Final stage of Plan approval Q4 FY15 Joint 2 UM Kaval Beng
Slide 16: Sales
PURAVANKARA Sales 16
Slide 17: Sales – 2nd Quarter, September 2014
Sales – 2nd Quarter, 30 September 2014 Based on Bookings Quarter Ended Area Sold Units Sold Sale Value Sale Realization Sep-14 Sep-13 % Sep-14 Sep-13 % Sep-14 Sep-13 % Sep-14 Sep-13 % msft msft Nos. Nos. Rs. Crores Rs. Crores Rs.psft Rs.psft Puravankara 0.71 0.53 34% 451 352 28% 382 260 47% 5,400 4,
Slide 18: Sales – Half Year end FY15
Sales –Half Year end FY15 Based on Bookings Half Year ended Area Sold Units Sold Sale Value Sale Realization Sep-14 Sep-13 % Sep-14 Sep-13 % Sep-14 Sep-13 % Sep-14 Sep-13 % Rs. msft msft Nos. Nos. Crores Rs. Crores Rs.psft Rs.psft Puravankara 1.23 0.93 32% 809 596 36% 666 426 56% 5,405 4,597 18% Com
Slide 19: Sales Breakup
Sales Breakup Q2 By Enity Q2 By Geography Kochi 4%; 0.04msft Coimbatore 5%; 0.05msft Mangalore 1%; 0.01msft Provident 28%; 0.28msft Chennai 17%; 0.17msft Puravankara Bengaluru 72%; 0.71 msft 73%; 0.72 msft 19
Slide 20: Cash Flows
PURAVANKARA Cash Flows 20
Slide 21: Cash Flow – Summary
Cash Flow – Summary Rs. crores Puravankara Provident Total Balance collections from sold units 1 (A) 1,361 443 1,804 Inventory 2 (B) 5,064 2,620 7,684 Residential 4,436 2,620 7,056 Launched 3,117 1,226 4,343 Not Launched 1,319 1,394 2,713 Commercial 628 - 628 Balance cost to go 3 (C) 2,256 1,509 3,7
Slide 22: Cash Flow Statement
Cash Flow Statement Rs. crores FY 2014 Q1 FY -15 Q2 FY -15 H1 2015 Receipts Collection from Sale of Flats 1,283.76 293.89 355.85 649.74 Advance recd for sale of land 15.82 161.56 - 161.56 Equity Redemption and Dividend from Associates 40.79 - 38.74 38.74 A Total Receipts 1,340.37 455.45 394.59 850.0
Slide 23: Cash Flow Statement (Contd)
Cash Flow Statement (Contd) Rs. crores FY 2014 Q1 FY -15 Q2 FY -15 H1 2015 D Operating Surplus (119.70) 45.34 20.72 66.06 Investment Activity Purchase of Fixed Assets (13.96) (3.54) (15.70) (19.24) Investment in Subsidiaries/Associates - (3.78) (3.78) Investment in Mutual Funds 5.72 - - Net investme
Slide 24: Income Statement Analysis
Income Statement Analysis 24
Slide 25: Income Statement – Summary
Income Statement – Summary Rs. Crores Recognised in Q2FY 2015 from Projects Puravankara Provident Others Total Revenue Recognised 1 (A) 280 100 44 424 Land Cost Recognized (B) 49 4 14 67 Construction Costs Recognised 2 (C) 179 73 3 255 Surplus (A) – (B) – (C) 51 24 27 103 Unrecognised as at 30/09/20
Slide 26: Result Highlights
Result Highlights Rs. crores Q2FY15 Puravankara Provident Starworth Other Subsidiaries and Eliminations Consolidated Total Revenues 284 113 70 -37 429 YoY growth (%) 39% 19% 68% 43% Profit Before Tax 9 10 6 11 36 YoY growth (%) -74% -68% 15% -49% margins (%) 3% 9% 9% 8% Profit After Tax 6 7 4 5 21 Y
Slide 27: Consolidated Statement of Profit and Loss for the quarter ended 30 September 2014
Consolidated Statement of Profit and Loss for the quarter ended 30 September 2014 Rs. crores Q2 FY 15 Q2 FY 14 Q1 FY 15 FY14 Income Revenue from operations Revenue from projects 425 296 458 1,298 Other operating revenues 4 3 4 12 Other income 0 3 12 3 Total 429 301 474 1,313 Expenses Material and co
Slide 28: Consolidated Statement of Profit and Loss for the H1 FY15
Consolidated Statement of Profit and Loss for the H1 FY15 Rs. crores H1 FY15 H1 FY14 FY14 Income Revenue from operations Revenue from projects 883 662 1,298 Other operating revenues 7 5 12 Other income 12 3 3 Total 903 670 1,313 Expenses Material and contract cost 428 290 642 Land cost 145 23 470 De
Slide 29: Key Financial Indicators
Key Financial Indicators Valuation Matrix (X) H1FY15 FY 2014 FY 2013 FY 2012 Income Statement (INR crs) H1FY15 FY 2014 FY 2013 FY 2012 Price/Earnings 15.2 9.95 7.97 10.71 Total Income 903 1,313 1,248 816 Price /BV 1.08 0.74 1.02 0.86 EBITDA from Operations 246 480 595 397 EV/Sales 2.11 2.39 2.8 3.35
Slide 30: Balance Sheet and Statement of Capital Employed
Balance Sheet and Statement of Capital Employed 30
Slide 31: Balance Sheet as of September 2014
Balance Sheet as of 30 September 2014 Rs. crores September March September March Equity and Liabilities Assets 2014 2014 2014 2014 Shareholders' Funds Non-Current Assets Share capital 119 119 Fixed assets 102 92 Reserves and surplus 2,133 2,055 Non-current investments 70 71 2,252 2,173 Properties he
Slide 32: Statement of Capital Employed
Statement of Capital Employed Rs. crores 30-Sep-14 31-Mar-14 Sources of Funds Equity 119 119 Reserves and Surplus 2,133 2,252 58% 2,055 2,173 56% Total Debt 1,642 42% 1,695 44% Total 3,894 100% 3,868 100% Application of Funds Land Investments 70 91 Properties held for development 750 743 Advances fo
Slide 33: Debt
PURAVANKARA Debt 33
Slide 34: Debt Structure – September 2014
Debt Structure – September 2014 Others Rs.30 crores Term Loan - Subsidiaries 2% / Associates Rs.245 crores 15% Over Drafts Rs.169 crores 10% Term Loan/Construction Finance at interest rate Rs.1197 crores 73% in Rs. Cr Q2-FY15 Q1- FY15 FY 2014 FY 2013 Opening Balance 1,620 1,696 Additions during the
Slide 35: Shareholding Pattern
PURAVANKARA Shareholding Pattern 35
Slide 36: Shareholding Pattern – as at September 2014
Shareholding Pattern – as at 30 September 2014 Individuals and Others DIs 4% 1% Mutual Funds 8% FIIs 12% Promoters 75% Notes Promoter Shares are unencumbered Key Shareholders Mutual Funds FIIs Insurance and Bodies Corporate SBI AMC HSBC Life Insurance Corporation Reliance Capital College Retirement
Slide 37: Stock Movement
Stock Movement Puravankara outperformed BSE Realty Index during October 1 , 2013 to September 30, 2014 Oct/13 Nov/13 Dec/13 Jan/14 Feb/14 Mar/14 Apr/14 May/14 Jun/14 Jul/14 Aug/14 Sep/14 Puravankara Sensex BSE Realty As on 30th September 2014 30-Sep-14 30-Jun-14 31-Mar-14 31-Dec-13 30-Sep-13 Price o
Slide 38: Dedicated and experienced management team
Dedicated and experienced management team – committed to best practices of corporate governance Executive team Non-Executive team Ravi Puravankara Chairman and Managing Director Anup Shah • Over 39 years of experience in real estate industry Independent Director • Former president of the Internation
Slide 39: Bengaluru location map
Bengaluru location map Sl. No. Project Name 1 Highlands/High Crest, Mallasandra 2 Mid-Town, KR Puram 3 Seasons, CV Raman Nagar 4 Sunflower, Magadi Road 5 Skywood, Sarjapur Road 6 Whitehall, Sarjapur Road 7 Harmony, Thannisandra Road 8 Welworth City, Doddaballapur Road 9 Sunworth, Mysore Road 10 Gain
Slide 40: Chennai location map
Chennai location map Sl. No. Project Name 1 Cosmo City, Pudupakkam 2 Swan Lake, OMR 3 Windermere, Medavakkam 4 Primus, OMR 5 Moneto, Guindy 6 Pudupakkam Current Projects Immediate Launches Note: Map not to scale 40
Slide 41: Kochi location map
Kochi location map Sl. No. Project Name 1 Oceana, Marine Drive 2 Grandbay, Marine Drive 3 Eternity, Kakkanad 4 Moonreach, Airport-Seaport Road Current Projects Note: Map not to scale 41
Slide 42: Coimbatore location map
Coimbatore location map Sl. No. Project Name 1 Bluemont/Amaiti, Trichy Road 2 GreenPark, Selvapuram Current Projects Note: Map not to scale 42
Slide 43: Mangalore and Hyderabad location maps
Mangalore location map Hyderabad location map Sl. No. Project Name Sl. No. Project Name 1 Skyworth, Derebail 1 Summit, Kondapur Note: Map not to scale Current Projects 43
Slide 44: Project Pictures
PURAVANKARA Project Pictures | SERCEPEERE EB ARERR R REE BB BS U PROVIDENT My PRovIOENT Sunworth Derebail, Mangalore 44
Slide 45: Project Pictures
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Slide 46: Project Pictures
PURAVANKARA Project Pictures Ti 3S i : PURVA Hi ghl 46
Slide 47: Awards and achievements
Awards and achievements Awards for Puravankara projects Purva Fountain Square Best Ornamental Garden, 2013 by the Mysore Horticulture Society Luxury Project of the Year at Realty Excellence Awards, 2011 Purva Windermere - Most Admired Upcoming Project of the Year, 2013 at Real Estate Awards for Reta
Slide 48: Disclaimer
Disclaimer This presentation contains certain forward-looking statements. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, o
Slide 49: THANK YOU
THANK YOU Puravankara Projects Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Please contact: Mr. Anil Kumar, Chief Financial Officer Email: cfo@puravankara.com; Tel: +91-80-4343 9688 49