Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q2 FY25 Earnings Presentation
47 slides from Prestige Estates Projects's earnings presentation, 2024
Slide 1: Investor Presentation Q2 FY25 and H1 FY25
INVESTOR PRESENTATION Q2 FY25 AND H1 FY25 PRESTIGE ESTATES PROJECTS LIMITED www.prestigeconstructions.com
Slide 2: Contents
CONTENTS 01 COMPANY OVERVIEW 05 LAND BANK 02 OPERATIONAL HIGHLIGHTS 06 ESG 03 FINANCIAL HIGHLIGHTS 07 BOARD OF DIRECTORS AND MANAGEMENT TEAM 04 BUSINESS SEGMENTS 08 ANNEXURES 2
Slide 3: Company Overview
COMPANY OVERVIEW • 38 years of Legacy • Residential • Commercial • 13 cities presence • Retail • CRISIL DA1+ Developer Grading • Hospitality • ICRA A+ Stable Rating • Property Management & Services 3
Slide 4: Scale of Operations
Prestige SCALE OF OPERATIONS COMPLETED TOTAL: 302 Projects, 193 mn sft ONGOING TOTAL: 57 Projects, 99 mn sft UPCOMING 152 Proj @ Residential { 130 mn 125 Projects @ Commercial { 49m sft 13 Projects Retail { 10m sft @ Residential { @ Commercial { Retail { TOTAL: 62 Projects, 94 mn sft 41 Projects @ R
Slide 5: Operational Performance Q2 FY25
OPERATIONAL PERFORMANCE Q2 FY25 COLLECTIONS AVG REALISATION Apt / Villas / Comm: ₹ 27,372 mn ₹ 13,782 /sft SALES AREA SOLD +33% yoy +4% yoy Plots PG Share : ₹ 25,541 mn 3 mn sft ₹ 40,226 mn +7% yoy ₹ 6,654 /sft -56% yoy -1% yoy -43% yoy PG Share : 2.91 mn sft -51% yoy PG Share : ₹ 39,319 mn -37% yoy
Slide 6: Operational Performance H1 FY25
OPERATIONAL PERFORMANCE H1 FY25 COLLECTIONS AVG REALISATION Apt /Villas /Comm: ₹ 56,534 mn ₹ 13,010 /sft SALES AREA SOLD +26% yoy +5% yoy PG Share : ₹ 52,515 mn 5.87 mn sft Plots ₹ 70,522 mn +8 % yoy -45% yoy ₹ 7,179 /sft +49% yoy -36% yoy PG Share : 5.45 mn sft -42% yoy PG Share : ₹ 66,533 mn -32%
Slide 7: Launches and Completions
Launches Q2 FY25 Sl Project name Location Segment TDA No (mn sft) 1 Prestige Raintree Bengaluru Residential 4.67 Park 2 Prestige Pine Forest Bengaluru Residential 1.16 3 Prestige Forest Hills Mumbai Residential 2.36 Ph 1 @ TPC Mulund Completions Total Q2 8.19 Q2 FY25 Q1 FY25 Sl Project name Location
Slide 8: Geographical Sales Distribution
GEOGRAPHICAL SALES DISTRIBUTION 51% 48% 26% 25% 26% 21% 2% 2% Bengaluru Mumbai Hyderabad Others Q2 FY25 H1 FY25 8
Slide 9: Top Sales Contributors
TOP SALES CONTRIBUTORS 16,247 Q2 FY25 6,512 5,732 2,712 1,756 Prestige The Prestige The Prestige Prestige Ocean Prestige Raintree Park City Mulund City (Hyd) Towers Clairemont Sales (in ₹ mn) 16,247 H1 FY25 11,843 7,986 7,096 6,073 Prestige The Prestige The Prestige Prestige King's Prestige Ocean Ra
Slide 10: Inventory Break-up
INVENTORY BREAK-UP Area of Stock in mn sft: 5.06 4.43 Geographical Distribution 11.81 Area of Stock 1.40 12.01 0.20 0.43 0.32 0.32 0.06 mn sft Ongoing Completed Hyderabad Bengaluru Mumbai Calicut Mangaluru Kochi Others # of Units(Total) 5,135 ongoing 5,037 completed 98 Value of Stock in mn: 57,830 5
Slide 11: Financial Performance Q2 FY25
FINANCIAL PERFORMANCE Q2 FY25 REVENUE EBITDA PAT % ₹ 24,238 mn ₹ 7,507 mn ₹ 2,346 mn EBITDA: 30.97% -25.56% yoy -53.43% yoy -74.22 % yoy PAT: 9.68% 11 Q2 FY24 financial numbers include gain of ₹8,512 mn recognized on acquisition of Prestige (BKC) Realtors Pvt Ltd & Turf Estate Joint Venture LLP
Slide 12: Financial Performance H1 FY25
FINANCIAL PERFORMANCE H1 FY25 REVENUE EBITDA PAT % ₹ 44,483 mn ₹ 17,094 mn ₹ 5,416 mn EBITDA: 38.43% -14.82% yoy -29.49% yoy -55.88% yoy PAT: 12.18% 12 H1 FY24 financial numbers include gain of ₹8,512 mn recognized on acquisition of Prestige (BKC) Realtors Pvt Ltd & Turf Estate Joint Venture LLP
Slide 13: Segment Wise Results
SEGMENT WISE RESULTS Segment wise results and capital employed (in ₹ Million) Others H1 FY25 Office Retail Hospitality Services Residential Total (Note 1) Revenue 1,541 1,379 4,150 2,202 29,737 2,657 41,665 EBITDA (excluding other income) 1,152 704 1,460 290 8,013 2,657 14,276 EBITDA % 75% 51% 35% 1
Slide 14: Segment Wise Results and Capital Employed
SEGMENT WISE RESULTS Segment wise results and capital employed (in ₹ Million) H1 FY25 Office Retail Hospitality Services Residential Total Capital Employed Equity A 60,996 16,559 23,670 911 63,384 1,65,520 Debt (including ongoing capex) B 28,480 7,957 8,596 20 50,550 95,603 Debt taken for ongoing ca
Slide 15: Cash Flows
OPERATING ACTIVITIES Inflows CASH FLOWS Value (in ₹ Mn) Q2 FY25 H1 FY 25 Residential Collection/ Commercial & Retail Rentals / Property Maintenance / Mall Operations/ Others 32,773 67,133 Outflows Construction Cost- Development Business 12,667 26,752 LO Payments /Sales/ Marketing / Admin Overheads &
Slide 16: Debt Profile
20.26% DEBT PROFILE 8.99% 51.93% NET DEBT: ₹ 35,921 mn 1.25% 17.57% DEBT EQUITY RATIO: 0.21 Project Debt- for Residential and Commercial Sales Capex for Office Capex for Retail AVG BORROWING COST: 10.69% Capex for Hospitality Lease Rental Discounting 16 *As on Sept 30, 2024
Slide 17: Business Segments
BUSINESS SEGMENTS 17
Slide 18: Residential
RESIDENTIAL COMPLETED • 152 PROJECTS • 131 MN SFT ONGOING • 41 PROJECTS • 72 MN SFT UPCOMING • 32 PROJECTS • 69 MN SFT 18
Slide 19: Residential Portfolio: Free Cash Flows from Sales
RESIDENTIAL PORTFOLIO FREE CASH FLOWS FROM SALES : ₹ 4,59,008 mn CASH FLOW (₹ mn) : ONGOING + COMPLETED PROJECTS CASH FLOW (₹ mn) : UPCOMING PROJECTS FREE CASH FLOWS (₹ mn) 6,05,331 6,42,325 3,50,000 3,77,625 3,00,000 3,20,372 2,50,000 2,11,859 3,20,372 1,62,183 1,38,636 2,00,000 3,583 1,50,000 Esti
Slide 20: Residential Portfolio: Unrecognised Revenue
RESIDENTIAL PORTFOLIO GDV of Upcoming projects added during FY25 UNRECOGNISED REVENUE Area GDV Project name Location (mn sft) (₹ mn) Prestige Spring Heights Hyderabad 3.18 29,653 Particulars Amount (₹ in mn) Value of area sold 3,84,687 Prestige Imperial Park Hyderabad 2.08 19,175 Value of unsold sto
Slide 21: Residential - Ongoing Projects
RESIDENTIAL - ONGOING PROJECTS Bengaluru Hyderabad 41 Projects 72 mn sft 1 Prestige White Meadows - Clover Leaf 2 Prestige Primrose Hills - Ph2 3 Aspen Greens @ TPC 0.50 0.72 0.50 100% 0.50 67% 0.48 60% 0.30 FY 25 FY 25 FY 25 1 2 Prestige Beverly Hills Prestige Clairemont 2.30 3.29 73% 100% 1.68 3.2
Slide 22: Residential - Upcoming Projects
RESIDENTIAL - UPCOMING PROJECTS Hyderabad 1 Prestige Rock Cliff 0.68 55% 0.37 FY 25 Bengaluru 32 69 2 Prestige Spring Heights 3.18 60% 1.91 FY 25 Projects mn sft 3 Prestige Imperial Park 2.08 60% 1.25 FY 26 1 Prestige Countydale 0.24 100% 0.24 FY 26 4 Residential @ Banjara Hills 0.61 50% 0.31 FY 26
Slide 23: GDV of Projects Expected to Launch in FY 2025
GDV OF PROJECTS EXPECTED TO LAUNCH IN FY 2025 Sl No Project Name Location TDA ( mn sft) GDV (₹ Mn) 1 Prestige Southern Star Bengaluru 8.50 61,071 2 Prestige Falcon City Luxe Bengaluru 4.31 49,680 3 Prestige Greenmoor Bengaluru 0.80 10,753 4 Eaton Park @ TPC Bengaluru 0.31 2,654 5 Prestige Suncrest B
Slide 24: Commercial
COMMERCIAL COMPLETED • 125 PROJECTS • 49 MN SFT ONGOING • 12 PROJECTS • 23 MN SFT UPCOMING • 7 PROJECTS • 8 MN SFT 24
Slide 25: Commercial Portfolio
COMMERCIAL PORTFOLIO OCCUPANCY – H1FY25 90% PROJECTED ANNUITY INCOME STEP UP (₹ mn) PG Share 33,262 33,262 EXIT RENTALS – Q2 FY25 ₹5,233 mn 10,522 ANNUITY INCOME FY28 7,204 7,476 ₹ 33,262 mn FY25 FY26 FY27 FY28 FY29 25
Slide 26: Commercial - Ongoing Projects
COMMERCIAL- ONGOING PROJECTS 12 Projects 23 mn sft Bengaluru 1 Prestige Lake Shore Drive Ph I 4.02 40% 1.61 FY 25 2 Prestige Waterfront 0.54 60% 0.32 FY 26 3 13° North Commercial 0.14 100% 0.14 FY 26 4 Prestige Tech Hub 1.33 60% 0.80 FY 26 5 Prestige Tech Habitat 1.04 74% 0.77 FY 27 6 Prestige Tech
Slide 27: Commercial - Upcoming Projects
COMMERCIAL- UPCOMING PROJECTS 7 Projects 8 mn sft Bengaluru 1 Prestige Tech Park V 0.14 100% 0.14 FY 25 2 Prestige Landmark 2.92 50% 1.46 FY 25 3 Prestige JRC Signature Tower 0.28 100% 0.28 FY 25 Total 3.34 1.88 Kolar 1 Shipco (Warehousing) 2.05 70% 1.44 FY 25 Total 2.05 1.44 Kochi 1 Prestige Vantag
Slide 28: Commercial - Capex and Balance to Spend
COMMERCIAL- CAPEX AND BALANCE TO SPEND Value in ₹ mn Balance Balance COC PARTICULARS Total COC COC (PG) COC (PG) BALANCE TO SPEND 450, (PG SHARE) 000 Ongoing Commercial ONGOING COMMERICAL Capex 1,18,173 1,09,080 80,076 76,627 ₹76,627 mn UPCOMING COMMERICAL Upcoming Commercial Capex 21,903 20,673 21,
Slide 29: Retail
RETAIL COMPLETED • 13 PROJECTS • 10 MN SFT ONGOING • 1 PROJECT • 1 MN SFT UPCOMING • 12 PROJECTS • 13 MN SFT 29
Slide 30: Retail Portfolio
RETAIL PORTFOLIO FOOTFALLS GTO LEASING OCCUPANCY – H1FY25 H1FY25 H1FY25 9 mn + ₹ 11,000 + mn 99.20% PROJECTED ANNUITY INCOME STEP UP (₹ mn) PG Share EXIT RENTALS 9,831 ₹2,179 mn 7,391 ANNUITY INCOME FY29 2,830 2,179 2,179 ₹ 9,831 mn FY25 FY26 FY27 FY28 FY29 30
Slide 31: Retail - Ongoing & Upcoming Projects
RETAIL- ONGOING &UPCOMING PROJECTS ONGOING 1 Project 1 mn sft BENGALURU 1 Forum 13° North 1.13 100% 1.13 FY 27 Total 1.13 1.13 UPCOMING 12 Projects 13 mn sft BENGALURU 1 Forum TPC Bengaluru 1.27 60% 0.76 FY 25 2 Forum Park Grove 0.55 60% 0.33 FY 25 3 Forum Mall @ Prestige Falcon City Phase 2 0.41 60
Slide 32: Retail - Capex and Balance to Spend
RETAIL- CAPEX AND BALANCE TO SPEND Value in ₹ mn BALANCE TO SPEND Balance Balance COC PARTICULARS Total COC COC (PG) (PG SHARE) COC (PG) ONGOING RETAIL Ongoing Retail Capex 3,619 3,619 2,264 2,264 ₹2,264 mn Upcoming Retail Capex 49,877 32,315 49,694 32,202 UPCOMING RETAIL ₹32,202 mn Total Capex TOTA
Slide 33: Hospitality
HOSPITALITY OPERATING • 9 Hotels • 1486 KEYS ONGOING • 3 Hotels • 955 KEYS UPCOMING • 11 Hotels • 2,128 KEYS 33
Slide 34: Operating Hotels Performance - H1 FY25
OPERATING HOTELS PERFORMANCE – H1 FY25 REVENUE GOP GOP % H1FY25 H1FY25 H1FY25 ₹ 4,150 mn ₹ 1,826 mn 44% 16,000 14,000 14,405 14,408 12,000 10,000 8,000 9,042 ARR ₹ 8,420 6,000 RevPAR ₹ 4,000 2,000 - Q1 FY25 Q2 FY25 34
Slide 35: Hospitality - Ongoing & Upcoming Projects
HOSPITALITY- ONGOING &UPCOMING PROJECTS BENGALURU ONGOING 3 Projects 955 Keys 1 W Hotel - Prestige 13° North 176 100% 176 FY 26 DELHI 1 DIAL - Marriott Marquis 590 50% 295 FY 26 2 DIAL - St Regis 189 50% 95 FY 26 Total 779 390 UPCOMING 11 Projects 2128 Keys BENGALURU 1 Moxy @ ORR (24 Tech) 108 100%
Slide 36: Hospitality Revenue Potential (4569 Keys)
HOSPITALITY REVENUE POTENTIAL (4569 KEYS) Value (in ₹ Mn) UNDER OPERATING CONSTRUCTION UPCOMING TOTAL Total Keys 1,486 955 2,128 4,569 Keys (PG Share) 1,436 566 1,302 3,304 Total Revenue p.a. 10,328 7,902 13,914 32,144 Revenue P.A ( PG Share) 10,134 4,722 8,604 23,460 GOP @50% (PG share) 11,730 36
Slide 37: Hospitality - Capex and Balance to Spend
HOSPITALITY- CAPEX AND BALANCE TO SPEND Value in ₹ mn BALANCE TO SPEND Balance Balance COC (PG SHARE) PARTICULARS Total COC COC (PG) COC (PG) ONGOING HOSPITALITY Ongoing Hospitality Capex 20,466 11,416 11,313 6,840 ₹6,840 mn UPCOMING HOSPITALITY Upcoming Hospitality Capex 30,482 22,135 30,353 22,098
Slide 38: Property Management
PROPERTY MANAGEMENT PROJECTS UNDER MAINTENANCE • 181 projects • 110 mn sft Q2FY25 GROSS REVENUE • ₹ 1,828 mn H1FY25 GROSS REVENUE • ₹ 3,714 mn 38
Slide 39: Land Bank
LAND BANK Land Area Economic PG Share S.No. Entity Name Location (Acres) Interest (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi, Bengaluru 183 100% 183 2 The QS Company Padil Mangaluru 21 100% 21 3 Prestige Warehousing And Cold Storage Services Pvt Ltd Dobaspet, Bengaluru 50 100% 50 4 Prestige S
Slide 40: ESG Excellence: Achievements & Recognitions
ESG Excellence: Achievements & Recognitions GRESB Green Star Rating WiredScore Platinum The Prestige, Mumbai and Prestige 101, BKC Prestige Technostar, Bengaluru and achieved Green Star, Five Star rating. Prestige 101, BKC, Mumbai are among the first WiredScore-certified buildings in The Global Real
Slide 41: Board of Directors
BOARD OF DIRECTORS Irfan Razack Dr. Rezwan Razack Noaman Razack Chairman and Managing Director Joint Managing Director Whole-time Director Uzma Irfan S.N. Nagendra Neelam Chhiber Dr. Ravindra M Mehta T. Srikanth Bhagavat 41 Director Independent Director Independent Director Independent Director Inde
Slide 42: Leadership Team
LEADERSHIP TEAM Nawabzada Omer Bin Jung Faiz Rezwan Zayd Noaman Anjum Jung Mohmed Zaid Sadiq Executive Director- Executive Director- Executive Director- Executive Director- Executive Director- Liaison Hospitality Contracts and Projects CMD’s Office Interior Designs and Hospitality Zackria Hashim San
Slide 43: Leadership Team
LEADERSHIP TEAM Swaroop Anish Juggy Marwaha Muhammed Ali Tariq Ahmed Suresh Singaravelu Executive Director & CEO CEO- Office Business CEO- Retail Executive Director & Executive Director & CEO Residential Segment & CEO West India Hospitality Segment Business Development Shivaprasad Naik N Lt Col. Mil
Slide 44: Annexures
FOR FURTHER ANNEXURES INFORMATION, PLEASE CONTACT: Ms Khizra Bandukwala +91-91483 35123, +91-80-25591080 investors@prestigeconstructions.com khizra.atique@prestigeconstructions.com www.prestigeconstructions.com Prestige Falcon Towers, No 19,Brunton Road, Bengaluru- 560025 44
Slide 45: Exit Rentals - Commercial
EXIT RENTALS - COMMERCIAL Total Leasable Area Economic Interest Economic Interest Rent P.A S.No. Project Name (mn sft) (%) (mn sft) (Annualised) (₹ Mn) 1 Prestige Logistic Centre 0.39 100 0.39 94 2 Prestige Polygon 0.33 100 0.33 352 3 Prestige Tech Park (West Palm) 0.32 61 0.20 256 4 SKN Commercial
Slide 46: Exit Rentals - Retail
EXIT RENTALS - RETAIL Total Leasable Area Economic Interest Economic Interest Rent P.A S.No. Project Name (mn sft) (%) (mn sft) (Annualised) (₹ Mn) 1 UB City Retail 0.10 45 0.05 148 2 Prestige Mysore Central 0.08 65 0.05 23 3 Forum Rex Walk 0.16 34 0.05 128 4 Forum Falcon City Mall 0.95 66 0.62 974
Slide 47: Residential Projects Free Cashflows
RESIDENTIAL PROJECTS FREE CASHFLOWS Ongoing + Completed Projects Upcoming Projects Particulars Area in Mn Sft Value in ₹ Mn Total Developable Area 91.26 Particulars Area in Mn Sft Value in ₹ Mn Common Area/ Car Park Area 24.56 Total Developable Area 69.04 Net Saleable Area 66.71 PG area share 60.29
Prestige Estates Projects — Q2 FY25 Earnings Presentation on 6ix