Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Q3 FY2024 Earnings Presentation
39 slides from Mahindra Lifespace Developers's earnings presentation, Feb 2, 2024
Slide 1: Exchange intimation letter for investor presentation
February 02, 2024 To, BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai 400051 Listing: http://listing.bseindia.com Listing: https://neaps.nseindia.com/NEWLISTI
Slide 2: Investor Presentation Q3 & 9M FY2024
Mahindra Nestalgia, Pune RERA Reg No: P52100045784 Artist’s Impression Investor Presentation Q3 & 9M FY2024
Slide 3: Disclaimer
DISCLAIMER This presentation and the accompanying slides ("Presentation") have been prepared by “Mahindra Lifespace Developers Limited” ("Company"), solely for the purpose of information and do not constitute any offer, recommendation or invitation to purchase or subscribe to any securities and shal
Slide 4: MLDL Overview
Mahindra Citadel, Pune MLDL Overview RERA Reg No: P52100047656 Artist’s Impression
Slide 5: The Mahindra Group
THE MAHINDRA GROUP 1.75 Lac Cr 260,000+ 100+ 20+ GROUP TURNOVER EMPLOYEES COUNTRIES INDUSTRIES India’s number 1 SUV manufacturer by revenue Pioneering IC&IC business and residential market share; strong pipeline of EV products developments World’s largest tractor company by volume Number 1 timeshare
Slide 6: Mahindra Group created significant value in the last two decades; MLDL a key priority
Mahindra Group created significant value in the last two decades; MLDL a key priority for the Group Market cap of M&M Limited (Rs. kCr.) +45 Mahindra Lifespaces is identified 144 as a Growth Gem by Mahindra Group +57 100 Mahindra Group fully committed to support MLDL’s growth aspirations +42 MLDL pl
Slide 7: MLDL at a Glance
MLDL AT A GLANCE Committed to transforming India’s urban landscape through its Residential and IC&IC developments Mahindra Lifespaces Residential IC&IC 30 year Legacy 49 Integrated Cities Projects Delivered and Ongoing Presence in Chennai and Jaipur 650+ Employees 35.06 msft Industrial Clusters Tota
Slide 8: Accolades and Sustainability
ACCOLADES AND SUSTAINABILITY We have been recognized in many areas i.e., Top Builder, Great Place to Work, Sustainability, etc. Accolades Sustainability Achievements 15th Realty+ Excellence Awards 2023 (West) Global Real Estate Sustainability Benchmark (GRESB) ▪ Mahindra Happinest Kalyan ▪ Public Di
Slide 9: Stock Performance and Drivers
STOCK PERFORMANCE AND DRIVERS Stock generated 64% CAGR over the past 3 years BSE REALTY MAHLIFE Shareholding Pattern (%) 17.1% Mahindra Group FII 51.2% 23.2% MF 8.5% Others 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 Key Drivers Key Institutional Investors Scale-up in business development and pre-sales
Slide 10: Growth Strategy
Growth Strategy Bold ambition Drive profitable growth to 8K - 10K Cr sales by 2028 Leader in customer centricity 1 Well-engineered portfolio choices Clearly articulate “where to play” choices capturing - Geography, Customer segments, Products, Project size, 2 Robust acquisition engine Systematically
Slide 11: Growth Roadmap
GROWTH ROADMAP Rs. 8,000 -10,000 cr Vision to grow >5 times by 2028 Residential + IC & IC Rs. 2,268 cr Rs. 3,000 cr Rs. 824 cr 2021 2023 2025 2028 Residential IC & IC Focus Projects with 3-6 Unlock Thane Accelerated Origins Origins Pune Pursue Markets to be GDV upwards land land parcel leasing Ahmed
Slide 12: MLDL Residential
Mahindra Eden, Bengaluru MLDL Residential RERA Reg No: PRM/KA/RERA/1251/310/PR/300322/004794 10 Artist’s Impression
Slide 13: Residential – Structure Overview
RESIDENTIAL – STRUCTURE OVERVIEW M&M 51% MLDL 100% 73.7% 51% 89% MBDL MHPL MHDL MWCDL* Lakewoods Bloomdale Happinest Palghar Happinest MWCC Luminare Nestalgia Happinest Kalyan Aqualily Lakefront Estates 26.3% 49% 11% Actis HDFC Capital TIDCO Note: Includes assets owning SPVs only. Shareholding %ages
Slide 14: MLDL Highlights - Operational
MLDL HIGHLIGHTS - OPERATIONAL RESIDENTIAL** Launched 0.45 msft saleable area at Mahindra Citadel phase 2 in Pune Launched 0.18 msft saleable area at Mahindra Happinest Palghar Launched 0.47 msft saleable area at Tathawade phase 3 in Pune Forayed into plotted development with the launch of Lakefront
Slide 15: Residential - Scale of Operations
RESIDENTIAL - SCALE OF OPERATIONS MLDL is pioneering development of green homes and thoughtfully designed living spaces Total Premium Residential Value Homes Total Total Development 29.34 msft 5.72 msft 35.06 msft Footprint Completed 18.54 msft 2.04 msft 20.58 msft Development Ongoing 10.80 msft 3.6
Slide 16: Residential - Annual Trend
RESIDENTIAL - ANNUAL TREND Sales Value (Rs. cr) Sales Volume (msft) Collections (Rs. cr) Construction Outflow (Rs. cr) 1812 1153 1165 1023 1028 963 930 758 670 695 2.23 1.69 331 361 374 289 241 1.31 1.07 1.28 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Launches (msft) Completions (msft) 1.84 3
Slide 17: Residential - Quarterly Trend
RESIDENTIAL - QUARTERLY TREND Sales Value (Rs. cr) Sales Volume (msft) Collections (Rs. cr) Construction Outflow (Rs. cr) 450 455 443 0.80 361 345 0.60 386 0.68 0.61 304 304 311 276 0.53 0.40 0.49 0.42 136 122 113 100 93 0.20 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 0.00 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY
Slide 18: Residential - Project Portfolio - Ongoing Projects
RESIDENTIAL-PROJECT PORTFOLIO-ONGOING PROJECTS Premium Residential Location Project Name Total Launched Completed Area Ongoing Area Sales Value Completion % Development Development Development Sold Development Sold (Rs. cr) A B C of C D of D of D of D Vicino 0.27 0.27 0.08 0.08 0.19 0.19 334 87% Alc
Slide 19: Residential - Forthcoming Projects
RESIDENTIAL - FORTHCOMING PROJECTS Premium Residential Value Homes Future Development Future Development Location Project Name Location Project Name (msft) (msft) Nestalgia 0.02 MMR Happinest Kalyan2 Ph 2 0.53 Pune Mahindra Citadel 1.64 Total 0.53 Aqualily 0.07 Chennai Lakefront Estates 0.05 Lakewoo
Slide 20: Residential - Ready to Move Inventory
RESIDENTIAL - READY TO MOVE INVENTORY Location Project Name Balance units to sell Lakewoods 1 Chennai Aqualily 2 Bloomdale 1 Happinest Boisar 55 MMR Meridian (Alibaug) 5 Happinest Kalyan1 Ph1 48 Happinest Palghar1 60 TOTAL 172 18 Note: All figures correspond to MLDL and associates, including commerc
Slide 21: Residential - Sustainable Future Cash Flows
RESIDENTIAL - SUSTAINABLE FUTURE CASH FLOWS Ongoing Projects Amount Estimated Cash Flows (Rs. cr) Sold Units and Estimated Sales ^ 5760 Less: Amount Collected of Sold Units 2081 Less: Estimated Construction Cost # 2532 Net amount to be collected (A) 1147 Future Phases (to be launched) Amount Estimat
Slide 22: MLDL IC & IC
Mahindra World City, Jaipur MLDL IC & IC Actual Image 20
Slide 23: IC & IC - Structure Overview
IC & IC - STRUCTURE OVERVIEW M&M 51% MLDL 100% 74% 89% 100% KTL MWCJL* MWCDL 60% MIPCL MIPPL* Origins Pune MWC Jaipur MWC Chennai Origins Chennai Origins Ahmedabad 26% 11% 40% RIICO TIDCO Sumitomo Note: Overview includes assets owning SPVs only. Shareholding %ages are rounded to nearest %age and bas
Slide 24: MLDL Highlights - Operational
MLDL HIGHLIGHTS - OPERATIONAL INTEGRATED CITIES & INDUSTRIAL CLUSTERS Q3 FY2024 9M FY2024 77.4 acres leased to 7 customer for Rs. 223.8 cr : 90.1 acres leased to 13 customers for Rs. 270.5* cr : ▪ MWC Jaipur: Leased 59.7 acres to 5 customers ▪ MWC Jaipur: Leased 62.3 acres to 7 customers for for Rs.
Slide 25: IC & IC - Scale of Operations
IC & IC - SCALE OF OPERATIONS Pioneer in this business with pan India presence across Golden Quadrilateral and Delhi-Mumbai Industrial Corridor Integrated Cities Industrial Clusters MWC MWC Origins Origins Chennai Jaipur Chennai Ahmedabad Distance Distance to City 60 Km 20 Km to City 35 Km 75 Km Par
Slide 26: IC & IC - In Detail
IC & IC - IN DETAIL MWC, Chennai Origins, Chennai Leasable Area*: 1145 acres Unleased Inventory: 91 acres 307 Gross Area 229 Leasable Area* 1054 15 Leased Area 144 76 91 Leased Unleased MWC Commercial MWC Residential Acres MWC, Jaipur Origins, Ahmedabad Leasable Area*: 1917 acres Unleased Inventory:
Slide 27: IC & IC - Details
IC & IC - DETAILS Leased Area (Acres) 157.9 Park O&M, MWC Chennai (Rs. cr) 110.6 74.3 93.1 24.1 23.4 23.3 23.9 22.1 16.6 17.4 16.7 18.3 22.8 16.4 39.6 46.4 95 46.2 71.4 15.4 15.1 24.1 23.3 28.8 1.2 2.2 15.6 12.2 FY19 FY20* FY21* FY22 FY23 FY19 FY20 FY21 FY22 FY23 MWC Chennai MWC Jaipur Origins Chenn
Slide 28: IC & IC - Marquee Clientele
IC & IC - MARQUEE CLIENTELE MWC Chennai MWC Jaipur 86 customers (63 operational) 136 customers (80 operational) Infosys Campus BMW Central Avenue JCB DTA Zone Infosys Circle Origins Chennai Origins Ahmedabad 13 customers (3 operational) NH Access Planned Planned Construction Construction 26
Slide 29: Land Inventory - Assets with Deep Value
LAND INVENTORY - ASSETS WITH DEEP VALUE Land Name Location Gross Area (acres) Development Plan # Land conveyance completed. Thane (Ghodbundar Road) MMR 68 Planned as Mixed-use Development. Murud, Raigad MMR 1,291 Under study & evaluation stage. Planned to be developed as Origins, Pune. OP (Origins P
Slide 30: MLDL Financials
Happinest Kalyan, MMR MLDL Financials RERA Reg No: P51700032925 Actual Image 28
Slide 31: Financial - Highlights
FINANCIAL - HIGHLIGHTS (Rs. cr, unless specified) CONSOLIDATED RESULTS Q3 FY24 Q2 FY24 Q3 FY23 9M FY24 9M FY23 FY23 Total Income 88.8 25.7 198.1 224.5 389.3 659.6 EBIDTA* 43.2 -26.4 5.5 10.4 50.6 61.0 Profit / (Loss) Before Tax & Share in Net Profit / (Loss) of Associates -36.4 -30.3 27.1 -105.0 6.5
Slide 32: Financials - Consolidated Profit & Loss Account
FINANCIALS-CONSOLIDATED PROFIT & LOSS ACCOUNT (Rs. cr, unless specified) PROFIT & LOSS STATEMENT Q3 FY24 Q2 FY24 Q3 FY23 9M FY24 9M FY23 Income from Operations 82.0 17.8 186.9 197.8 351.2 Other Income 6.8 7.9 11.2 26.7 38.1 Total Revenues 88.8 25.7 198.1 224.5 389.3 Operating Expenses 72.4 9.7 154.8
Slide 33: Financials - Consolidated Balance Sheet
FINANCIALS - CONSOLIDATED BALANCE SHEET (Rs. cr, unless specified) EQUITY & LIABILITIES Q3 FY24 FY23 ASSETS Q3 FY24 FY23 Equity Share Capital 155.0 154.7 Property, Plant and Equipment 16.5 13.8 Other Equity 1,645.8 1,651.1 Right of Use Assets 4.5 2.8 Net Worth 1,800.8 1,805.8 Capital Work-In-Progres
Slide 34: Financials - Segment Performance
FINANCIALS - SEGMENT PERFORMANCE (Rs. cr, unless specified) Residential IC & IC SEGMENT RESULTS Q3 FY24 9M FY24 Q3 FY24 9M FY24 Area Sold (msft) / Land Leased (acres) 0.53 msft 1.62 msft 77.4 acres 90.1 acres Sales / Lease Income 443 1243 224 270 Income from Operation 98 374 241 327 Other Income 9 3
Slide 35: MLDL Leadership
Mahindra Bloomdale, Nagpur MLDL Leadership RERA Reg No: P50500020254 Actual Image 33
Slide 36: MLDL Leadership | Directors
MLDL LEADERSHIP | DIRECTORS Mr. Ameet Hariani Dr. Anish Shah Mr. Amit Kumar Sinha Chairman and Non-Executive, Managing Director & Chief Executive Non-Executive, Non-Independent Director Officer Independent Director • Holds master’s degree in Law from the Mumbai • Ph.D. - Carnegie Mellon’s Tepper Bus
Slide 37: MLDL Leadership | Management
MLDL LEADERSHIP | MANAGEMENT Ashvin Iyengar Jitesh Donga Parveen Mahtani Chief Business Chief of Design Chief Legal Officer Officer - South Ameet Hariani Non-Executive Chairman Rajaram Pai Sudharshan KR Tanmoy Roy Chief People Chief Business Chief Project Officer Officer - Industrial Officer Vimal A
Slide 38: Thank You
Thank You Investor Relations Contact Mr. Rabindra Basu Head Investor Relations Email: BASU.RABINDRA@mahindra.com Mahindra Lifespace Developers Limited CIN L45200MH1999PLC118949 5th Floor, Mahindra Towers, Worli, Mumbai - 400 018. Tel: 022 6747 8600/ 6747 8601 | Fax: 022 2497 5084 For more details vi
Slide 39: Classification of projects
Classification of projects is as under: a. Completed: projects where b. Ongoing: projects where (i) all c. Future Phases: projects in respect of d. Land inventory: land in which any construction has been title or development rights, or which (i) all title or development rights of the Company/subsidi
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