Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q3 FY2022 Earnings Presentation
37 slides from Godrej Properties's earnings presentation, Feb 3, 2022
Slide 1: Exchange filing cover letter
Godrej Properties Limited Regd.Office: Godrej One, 5 1h Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai- 400 079.India Tel.: +91-22-6169 8500 Fax: +91-22-6169 8888 Website: www.godrtjproperties.com CIN: L74120MHl985PLC035308 February 03, 2022 BSE Limited Phiroze Jeejeebhoy Towers
Slide 2: Results Presentation Third Quarter FY2022
R E S U LT S P R E S E N T A T I O N THIRD QUARTER, FINANCIAL YEAR 2022 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY22
Slide 3: Disclaimer
DISCLAIMER Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operation
Slide 4: Agenda
AGENDA Overview 01 Q3 FY22 Operational Highlights 02 Q3 FY22 Financial Highlights 03 Annexure 04 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY22
Slide 5: Godrej Group
GODREJ GROUP • Established in 1897 Value Creation Track Record • $5 bn annual revenue 21 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth • 1.1 billion people globally use a Godrej product¹ BSE Sensex 15% 17 • Godrej ranks amongst the most trusted Indian brands² Godrej Con
Slide 6: Godrej Properties
GODREJ PROPERTIES • Established in 1990 • India’s largest developer by residential sales in FY21 • Successfully delivered ~20 million sq. ft. of real estate in the Chandigarh 0.5, 1 NCR past five years 27.3, 16 • ~186 million sq. ft. of saleable area across India • Differentiated asset-light busines
Slide 7: Strengths
STRENGTHS 1 1.1 billion people globally use a Godrej product Godrej Brand Godrej Properties ranked as the most trusted real estate brand in the 2019 Brand Trust Report GPL brings the Godrej brands reputation for trust, quality and corporate governance to the real estate sector Effective Land
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth ~ 8x an identical investment into the BSE Realty Index Value Creation Track Record 12 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 10.5% 3.32 Godrej Properties 19.1% 8.15 BSE Realty Index -0.1%
Slide 9: Agenda
AGENDA Overview 01 Q3 FY22 Operational Highlights 02 Q3 FY22 Financial Highlights 03 Annexure 04 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY22
Slide 10: Q3 FY22 Operational Highlights
Q3 FY22 OPERATIONAL HIGHLIGHTS • Launched 3 new projects/phases in Q3 FY22, and 7 new projects/phases in 9M FY22 Sales Highlights • Sales booking for Q3 FY22 and 9M FY22 stood at INR 1,541 crore (up 4% YoY) and INR 4,613 crore (up 13% YoY), respectively Business • Added two new residential projects
Slide 11: Sales Highlights
SALES HIGHLIGHTS Particulars Q3 FY22 Q3 FY21 Growth Q2 FY22 Growth 9M FY22 9M FY21 Growth Area Sold (sq. ft.) 2,216,214 2,395,688 -7% 3,612,142 -39% 6,602,702 6,636,971 -1% Booking Value (INR Cr) 1,541 1,488 4% 2,574 -40% 4,613 4,093 13% Strong response to new project/phase launches Bliss @ Godrej P
Slide 12: Project Booking
PROJECT BOOKING Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Residential Projects Q3 FY22 9M FY22 Q3 FY22 9M FY22 Godrej Palm Retreat1, NCR 334,447 394,805 247 297 Godrej Meadows, Pune 321,130 321,130 218 218 Godrej Bayview, MMR 94,860 94,860 186 186 Godrej Woods, NCR 135,107 735,256 14
Slide 13: Project Booking (Contd.)
PROJECT BOOKING (Contd.) Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Commercial Projects Q3 FY22 9M FY22 Q3 FY22 9M FY22 Godrej Eternia, Chandigarh 25,195 52,560 20 40 Godrej Genesis, Kolkata 32,498 32,498 14 14 Total 57,693 85,058 34 54 Grand Total 2,216,214 6,602,702 1,541 4,613 12 |
Slide 14: Quarterly Sales Trend
QUARTERLY SALES TREND Quarterly Sales Value 3,000 2,632 2,574 2,500 2,383 2,000 (INR cr) 1,531 1,488 1,541 1,500 1,074 1,000 497 500 0 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Quarterly Sales Volume 4.5 4.2 4.0 3.6 3.6 3.5 (Million sq.ft.) 3.0 2.5 2.4 2.5 2.2 2.0 1.7 1.5 1.0 0
Slide 15: Business Development
BUSINESS DEVELOPMENT Added two new residential projects with saleable area of ~1.6 million sq. ft. in Q3 FY22 Sarjapur 5, Bangalore • The project is an outright purchase of land in Sarjapur, Bangalore which has established itself as one of the most preferred residential locations with excellent conn
Slide 16: Business Development (Contd.)
BUSINESS DEVELOPMENT (Contd.) Existing Project Update Kalyan, MMR GPL Economic Interest: 100% Owned Project • As per new UDCR, there has been a significant upside in FSI due to which the potential saleable area has increased from 1.5 million sq. ft. to 2.7 million sq. ft. • Consequently, the master
Slide 17: Launch Tracker FY22
LAUNCH TRACKER FY22 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY22 New Phase Launches Planned in FY22 Project City Launch Launch Status Project City Status Area* Area* Godrej Ananda (Ba
Slide 18: Construction Highlights
CONSTRUCTION HIGHLIGHTS We continue to ramp up our workforce strength across our sites Workforce strength stood at 143% of our pre-COVID strength as of 350% December end 316% 300% 266% 250% (% of Total Workforce Strength) 200% 192% 190% 183% 169% 166% 161% 150% 139% 131% 133% 133% 131% 123% 114% 106
Slide 19: ESG Performance
SUSTAINABILITY AND CSR INITIATIVES Godrej Properties has been recognized as a Sector Leader Globally and in Asia for Listed Residential Development in 2021 by Global Real Estate Sustainability Benchmark (GRESB) ESG PERFORMANCE (Environmental, Social and ESG Rating GPL leads the ESG ratings for r
Slide 20: Agenda
AGENDA Overview 01 Q3 FY22 Operational Highlights 02 Q3 FY22 Financial Highlights 03 Annexure 04 19 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY22
Slide 21: Consolidated Financial Statements – P&L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q3 FY22 Q3 FY21 % Change Q2 FY22 % Change 9M FY22 9M FY21 % Change Total Income 399 306 30% 290 38% 921 709 30% Adjusted EBITDA* 121 96 26% 107 14% 312 222 40% EBITDA** 115 81 42% 105 10% 302 198 53% Profit before tax 68 31 117% 58 17% 1
Slide 22: Consolidated Cashflow
CONSOLIDATED CASHFLOW (INR Cr) Notes Particulars Q3 FY22 9M FY22 Operating cashflow Total operating cash inflow 1,879 4,885 A Operating cash outflow Construction and related outflow -838 -2,234 Other project related outflow -655 -1,935 Total operating cash outflow -1,494 -4,169 Net operating cashflo
Slide 23: Consolidated Financial Statements – BS
CONSOLIDATED FINANCIAL STATEMENTS – BS (INR Cr) Sr. No Particulars As on 31.12.2021 As on 31.03.2021 A Assets Unaudited Audited 1 Non Current assets a Property, plant & equipment 101.56 101.51 b Right-of-Use Asset 27.16 27.83 c Capital Work-in-Progress 480.28 229.25 d Investment Property 22.98 23.17
Slide 24: Consolidated Financial Statements – BS
CONSOLIDATED FINANCIAL STATEMENTS – BS (INR Cr) Sr. No Particulars As on 31.12.2021 As on 31.03.2021 B Equity and Liabilities Unaudited Audited 1 Equity a Equity share capital 138.99 138.97 b Other equity 8,275.44 8,180.52 Total Equity 8,414.43 8,319.49 2 Liabilities 2.1 Non Current Liabilities a Fi
Slide 25: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators Particulars Q3 FY2022 Q3 FY2021 Q2 FY2022 9M FY2022 9M FY2021 Adjusted EBITDA / Total Income* 30.4% 31.4% 36.7% 33.8% 31.3% EBITDA / Total Income** 28.8% 26.6% 36.1% 32.8% 27.9% PBT Margin % 17.0% 10.3% 20.1% 17.6% 5.5% Net Profit Margin %# 9.8% 4.7% 12.3%
Slide 26: Agenda
AGENDA Overview 01 Q3 FY22 Operational Highlights 02 Q3 FY22 Financial Highlights 03 Annexure 04 25 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY22
Slide 27: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based - 73.6% 1 Godrej Garden City* Ahmedabad Residential 14.80 Own Phase V: Revenue Based - 67.6% Ongoing Phase VI: onwards - 17% of Reve
Slide 28: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 18 Sarjapur 5 Bangalore Residential 1.50 Own 100% owned project Forthcoming 19 Godrej Palm Grove Chennai Residential 1.76 Own Area Based - 70% (for 12.57 acre
Slide 29: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 33 Godrej Park Mumbai Residential 0.77 Own Revenue Based – 56.5% Forthcoming 34 Godrej Vihaa Mumbai Residential 1.30 DM DM Fee – 10% of Revenue Ongoing Profit
Slide 30: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 51 Worli Mumbai Residential 1.27 JV Profit Share - 50% Forthcoming 52 Matunga Mumbai Residential 0.19 Own Revenue Sharing - 89% Forthcoming 53 Kalyan Mumbai R
Slide 31: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 68 Hinjawadi Pune Residential 10.20 JV Forthcoming 69 Manjari Pune Residential 4.06 JV Ongoing 70 Kalyani Nagar Pune Residential 0.50 JV Forthcoming DM - 12.5
Slide 32: B. Commercial Projects
B. COMMERCIAL PROJECTS Est. Saleable/ Asset Ind AS Sr. No. Project Name Location Leasable Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based 73.6% 1 Godrej Garden City* Ahmedabad Residential 2.40 Own Phase V : Revenue Based - 67.6% Ongoing Phase VI : onwards - 17%
Slide 33: Thank You
THANK YOU For further information, please contact: Rajendra Khetawat Godrej Properties Limited Tel: +91 22 6169 8500 Fax: +91 22 6169 8888 Email: rajendra@godrejproperties.com 32 | GODREJ PROPERTIES I RESULTS PRESENTATION Q3 FY22
Slide 34: Press Release: Consolidated Financials for Q3 FY22 and 9M FY22
GODREJ PROPERTIES LIMITED CIN : L74120MH1985PLC035308 Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express Highway, Mumbai – 400079 PRESS RELEASE Consolidated Financials for Q3 FY22 and 9M FY22 Results Net Profit grew by 171% YoY to INR 39 crore for
Slide 35: Press Release: Business development projects
Sarjapur 5, Bangalore The project is an outright purchase of land in Sarjapur, Bangalore which has established itself as one of the most preferred residential locations with excellent connectivity to the IT/ITES belt at Bellandur on Outer Ring Road and several key hubs of the city Spread across
Slide 36: Press Release: Financial Overview (Consolidated)
Commenting on the performance of Q3 FY2022, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said: “It is encouraging to see that the real estate sector in India has continued to strengthen despite the challenges of the third wave. Our own sales were muted in the third quarter due
Slide 37: About Godrej Properties Limited
About Godrej Properties Limited: Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 125-year legacy of excellence and trust with a commitment to cutting edge design, technology,