Dlf Limited · NSE:DLF
Dlf — Q4 FY08 Earnings Presentation
28 slides from Dlf's earnings presentation, May 2008
Slide 1: DLF Limited Q4 FY08 Analyst Presentation
DLF Limited Q4 FY08 Analyst Presentation • The Previous Quarter figures have been regrouped / rearranged wherever necessary to make them comparable. All figures for the current quarter are unaudited 1
Slide 2: Safe Harbour
SAFE HARBOUR This presentation contains certain forward looking statements concerning DLF’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The
Slide 3: Year Gone By
Year Gone By… • One of the largest IPOs; raised USD 2.2 bn from capital markets • Acquired large projects including Bidadi Knowledge City (Bangalore), SBM (Delhi), Tidel (Chennai), Raidurg and Kokapet (Hyderabad) • Acquired Aman Resorts • Successful launch of Premium Homes in Kolkata, Chennai, Gurga
Slide 4: Strengths / Differentiators
Strengths / Differentiators • Multiple businesses spread across 32 cities addressing customer demand across segments, - Offices comprising Corporate offices / built-to-suit, IT Parks and IT SEZ - Retail comprising luxury malls, super malls and city malls. This also comprises the retail and office to
Slide 5: Unaudited Results at a Glance – Q4 FY08
Unaudited Results at a Glance – Q4 FY08 Q4 FY08 Q3 FY08 Q2 FY08 Q1 FY08 Percentage Percentage Percentage Percentage Sl.No. Consolidated Financials Rs mn of Total Rs mn of Total Rs mn of Total Rs mn of Total Revenue Revenue Revenue Revenue A) 1 Sales and Other Receipts 43,060 35980 32,500 30,740 2 Ot
Slide 6: Profit & Loss A/c: 12 months ending FY08 vs FY07
Profit & Loss A/c: - 12 months ending FY 08 vs FY07 Rs mn Particulars Year ended 31.3.2008 Year ended 31.3.2007 Sales and other receipts 142,287 26,344 Other Income 2,652 14,190 Total Revenue (1+2) 144,938 40,533 Total Expenditure 44,768 11,477 a) Cost of land, plots and constructed properties 35,16
Slide 7: Consolidated Balance Sheet – Q4 FY08
Consolidated Balance Sheet – Q4 FY08 Rs mn 31-Mar-08 31-Mar-07 SOURCES OF FUNDS Shareholders' funds Capital 17,369 12,557 Reserves and surplus 188,412 22,992 205,781 35,549 Minority Interests 3,923 92 Loan funds Secured loans 78,111 92,053 Unsecured loans 44,498 7,274 122,609 99,327 Deferred tax lia
Slide 8: Cash Flows – Q4 FY08
Cash Flows – Q4 FY08 Rs mn Year ended Year ended Particulars 31-Mar-08 31-Mar-07 A. Cash flow from operating activities: Net profit before tax 96,383 25,402 Adjustments for: Depreciation 785 578 Loss/(profit) on sale of fixed assets, net 7 (5,344) Provision for doubtful debts 171 142 Loss/(profit) o
Slide 9: Profile and Usage of Debt
Profile and Usage of Debt Rs mn Total Debt 122,600 Less : Cash in Hand 19,370 Net Debt 103,230 Less : Debt in Non- Core Business ~ Acquisition of Aman / Investements in Hotels 28,000 ~ Investment in Power/ Utility Businesses 15,000 43,000 Balance Debt in Core (Real estate) Business 60,230 Less : Sel
Slide 10: Homes
Homes Particulars Q 4 FY 08 Q 3 FY 08 Q 2 FY 08 Q 1 FY 08 Total mn sqft Total mn sqft Total mn sqft Total mn sqft Super Mid Super Mid Super Mid Super Mid Luxury Luxury Income Total Luxury Luxury Income Total Luxury Luxury Income Total Luxury Luxury Income Total Sales Booked (msf) Opening Balance 0.3
Slide 11: Homes
Homes Snap Shot Q4 08 Gross Sales Price Realised S.NO. City Bookings * At Launch Current ( in mn sqft) No. (Rs Per Sq Ft) (Rs Per Sq Ft) A APPARTMENTS 1 KOLKATA 0.33 156 3,137 3,718 2 KOCHI 0.08 27 4,052 4,168 3 CHENNAI 3.63 2304 3,180 3,475 4 GURGAON 4.74 2363 2,934 2,951 8.78 4850 B PLOTS 1 INDORE
Slide 12: Homes
Homes • Homes Sales – success in different price brackets / product mixes across locations • Luxury Segment: DLF Riverside, Kochi, Phase V • Mid-Income Segment -- Indore, Chennai, Kolkata and New Gurgaon • DLF Garden City (OMR ) Chennai- launched in Q4 FY08 • Momentum to continue in the coming quart
Slide 13: Homes: Forthcoming Launches
Homes: Forthcoming Launches Chandigarh Indore Goa Bangalore Chennai Kakanad 13
Slide 14: Progress - Large Township
Progress - Large Township • Manesar: Signed the agreement with Haryana Government for Manesar SEZ • Ambala: Signed the agreement with Haryana Government for Ambala SEZ • Land acquisition process for both these SEZs is in progress to create integrated enclaves to cater to different needs of residenti
Slide 15: Retail – Malls and Commercial Complexes
Retail– Malls and Commercial Complexes Q4 FY 08 Q3 FY 08 Q2 FY 08 Q1 FY 08 Particulars Total mn sqft Total mn sqft Total mn sqft Total mn sqft Super Super Super Super Metros Metros Others Total Metros Metros Others Total Metros Metros Others Total Metros Metros Others Total Sales / Leased Booked Ope
Slide 16: Commercial Complexes: New Launches during Q4 FY08
Commercial Complexes: New Launches during Q4 FY 08 New Launches during Q408 Launch Current Sale Projects Unit Booked Total Area Area Booked Price Price Mn Sqft. Mn Sqft. Rs. Per sq.ft Rs. Per sq.ft Delhi 707 1.01 1.01 16,387 All Sold Hyderabad 221 0.31 0.31 12,311 All Sold Ludhiana 100 0.39 0.13 8,9
Slide 17: Forthcoming Launches: Commercial Complexes & Retail Malls
Forthcoming Launches: Commercial Complexes & Retail Malls Amritsar Delhi Gurgaon Noida Lucknow Mumbai Hyderabad Commercial Complexes Retail Malls Retail Projects – handover completed in Q4 FY08 17
Slide 18: Offices
Offices Q4 FY 08 Q3 FY 08 Q2 FY 08 Q1 FY 08 Particulars Total mn sqft Total mn sqft Total mn sqft Total mn sqft Super Super Super Super Metros Metros Others Total Metros Metros Others Total Metros Metros Others Total Metros Metros Others Total Sales / Leased Booked Opening Balance 8.60 1.82 2.99 13.
Slide 19: Offices Handed Over In Q4 FY08
Offices Handed Over In Q4 FY08 BUILDING NO. 10-TOWER B, Cyber City, Gurgaon Started Construction IT SEZ, NAGPUR 19
Slide 20: Office - SEZs – IT/ITES
Office - SEZs –- IT/ITES Sonepat Delhi Gurgaon Noida Gandhinagar Kolkata Nagpur Bhubneswar Pune IT/ITES SEZs Hyderabad Notified 7 Pending Final Approval 4 Chennai Applied For 4 Notified Final Approval/Applied For 20
Slide 21: Strong Execution Capability
Strong Execution Capability Construction in progress in 14 cities Proje cts Unde r Construction (msf) 62 59 44 Punjab Sonepat Delhi Gurgaon Uttar M ar, 2007 De c, 2007 M ar, 2008 Pradesh Gandhinagar Kolkata BU-wise Area Under Construction Mumbai Nagpur (msf) Pune Offices Homes Hyderabad 38 12 11 Ban
Slide 22: Hotels
Hotels • 25 projects comprising 4,255 keys under construction in FY09 • 313 keys opening in FY09 - Saket, Delhi: Hilton Garden Inn - Aman Lodhi, New Delhi • Opening of Gurgaon Phase III and V clubs (rooms only) • Project execution commenced for International Convention Centre, Dwarka (Delhi) 22
Slide 23: Human Resource
Human Resource Employee count as on March 31, 2008: 3700 QUALIFICATION BREAK-UP FOR JOININGS IN Q4 3% 2 5% 72 % Total Professional Non-Technical Total Professional Technical Total Non- Professional CLASSIFICATION No. % Total Professional Non-Technical 122 72.2 Total Professional Technical 42 24.9 To
Slide 24: Our Land Resource
Our Land Resource Land Resource as on 31-March-2008 Mn Sqft Total Super Metros Metros Tier-I Tier-II Segment Office 164 64 70 26 5 Retail 92 33 36 14 9 Super Luxury 4 4 0 0 0 , Luxury 41 33 6 1 0 Mid income /Villas /Plots 432 113 231 73 16 Hotel/ Convention Center/ Service Appts 18 4 2 10 2 Grand To
Slide 25: Comparison of Land Resource Q3 vs Q4
Comparison of Land Resource Q3 vs Q4 Area in mn sqft Particulars Grand Total Super Metros Metros Tier-I Tier-II Land Reserves as per Q3 FY08 , 748 265 346 106 31 New Acquisitions/ Business Propositions/ Product Mix Change 3 (14) (0) 17 1 Land Reserves as per Q4 FY08 751 251 345 123 32 25
Slide 26: Land Balance Payable as on FY08
Land Balance Payable as on FY08 Land Area / Cost Chart 751mn sqft Large Township Other Land Hotel Land Grand Total Gross Area (Mln.Sq.ft.) 272 461 18 751 Less : Area under Construction 62 , Net Land Area (Mln.Sq.ft.) 272 400 18 690 COST (Rs mn) Total Land cost 37,860 179,330 19,160 236,350 Less : Am
Slide 27: Land Balance Payable as on FY08
Land Balance Payable as on FY08 Rs mn Total Super Metros Metros Tier-I Tier-II Total Land Cost 236360 102320 75190 48360 10490 Less:Amount paid 164500 101030 25180 31110 7180 Balance due 71860 1290 50010 17250 3310 Less :from Merill 5400 0 5400 0 0 , Net payable 66460 1290 44610 17250 3310 Break up
Slide 28: DAL vs Non DAL Q4 FY08
DAL vs Non DAL Q4 FY08 Jan-08 to Mar-08 DAL Non-DAL Total Particulars Rs mn Sales 18,450 25,270 43,720 Less: Cost 5,460 11,220 16,680 PBT 12,990 14,050 27,040 Percentage of Total PBT 48% 52% 100% Apr-07 to Mar-08 DAL Non-DAL Total Particulars Rs mn Sales 53,450 91,490 144,940 Less: Cost 15,160 33,37