Chavda Infra Limited · NSE:CHAVDA
Chavda Infra — FY2025 Earnings Presentation
50 slides from Chavda Infra's earnings presentation, July 2025
Slide 1: Chavda Infra Limited Investor Presentation - FY25 Earnings Update
CHAVDA INFRA LIMITED Investor Presentation - FY25 Earnings Update The 31st 1
Slide 2: Agenda
Agenda 1. Executive 1. summary Executive summary 2. About Chavda Infra limited 3. Competitive moats 4. Ongoing & completed projects 5. Investment rationale 6. Historical business performance 7. Select financial statement data 8. Annexures Nirma University Old Building
Slide 3: Executive summary – FY25
Executive summary – FY25 Revenue and profitability Return and capital Client and people Revenue from operations Return on equity Orderbook ₹ 261 crores ^ 8% 18.8% v 151 bps ₹ 703 crores ^ 57% EBIDTA Return on capital employed Order inflow (₹ crores) ₹ 56 crores ^ 33% 14.9% v 308 bps ₹ 448 crores ^ 5
Slide 4: Performance update and management commentary – FY25
Performance update and management commentary – FY25 Business updates ▪ Successfully completed construction work1 of BeFree, our first project in GIFT city ▪ Key projects awarded in FY25 include: o Construction of The Identity, a commercial building in GIFT city with a total contract value of ₹219 cr
Slide 5: Consistent, sustainable, and predictable growth over last 3 years
Consistent, sustainable, and predictable growth over last 3 years (₹ crores) Revenue from operations EBIDTA PAT 56 CAGR: 33% CAGR: 52% CAGR: 58% 21 261 242 19 43 162 12 27 110 16 5 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 View our business in blocks of 3 years. Aim to double our b
Slide 6: Agenda
Agenda 1. Executive summary 2. About Chavda Infra limited 3. Competitive moats 4. Ongoing & completed projects 5. Investment rationale 6. Historical business performance 7. Select financial statement data 8. Annexures Trogon Twin Towers
Slide 7: About Chavda Infra Limited
About Chavda Infra Limited About the company ▪ Founded in 1990 by Mr. Mahesh Chavda, Chavda Infra Limited is a 4-YEAR CAGR(FY21-FY25) construction and allied services provider ▪ Headquartered in Ahmedabad, Gujarat, the company services India’s leading real estate developers and corporates Revenue fr
Slide 8: Our journey: Transitioning from a repair works contractor to a leading EPC player
Our journey : Transitioning from a repair works contractor to a leading EPC player ▪ Started with private bungalows and first-floor additions; quickly advanced to large-scale society projects ▪ Evolved into a mid-size EPC player in 2010, driven by inbound projects from leading architects and develop
Slide 9: Providing construction services across multiple business verticals
Providing construction services across multiple business verticals Residential projects Commercial projects Institutional projects Development of private residential buildings Construction of commercial and industrial Construction of hospitals, healthcare facilities, including group housing, townshi
Slide 10: Worked with more than 75+ clients across Gujarat
Worked with more than 75+ clients across Gujarat Geographical presence Key marquee clients GANDHINAGAR AHEMDABAD RAJKOT 10
Slide 11: Top-tier projects from key clients
Top-tier projects from key clients Outstanding contract value of key projects as of FY25 = ₹ 570+ crores 219 108 60 54 54 28 26 10 10 8 Project Name The Identity, Gift Trogon Twin Kalrav Nest Shivalik Nirma Hostel H5 Anantra Alora The Park Befree, Gift City The 31st Reflection VR City Towers Greenfi
Slide 12: Leadership team
Leadership team Mr. Mahesh Chavda Mr. Johil Chavda Mr. Jeet Chavda Mr. Parth Gurjar Mr. Mayank Shah1 (MD & Chairman) Director Director CEO CFO Industry experience: 40+ years Industry experience: 12+ years Industry experience: 12+ years Industry experience: 20+ years Industry experience: 12+ years As
Slide 13: Construction project life cycle at Chavda
Construction project life cycle at Chavda Sourcing and evaluation Planning and mobilization Material procurement Handover Retention money release Secure projects from private sector clients, Mobilize manpower and equipment and Procure high-quality materials and monitor Jointly inspect project with c
Slide 14: Agenda
Agenda 1. Executive summary 2. About Chavda Infra limited 3. Competitive moats 4. Ongoing & completed projects 5. Investment rationale 6. Historical business performance 7. Select financial statement data 8. Annexures Mondeal One 14
Slide 15: Key drivers behind Chavda’s growth since inception
Key drivers behind Chavda’s growth since inception Repeatedly serviced India’s leading developers and One-stop-shop EPC player corporates Value-accretive payment terms Transforming Ahmedabad’s real estate industry with global leading technology Creating an ecosystem to deliver holistic construction
Slide 16: One-stop-shop EPC player
One-stop-shop EPC player One stop solution Client Technology ▪ Transitioned from repairs work ▪ End-to-end execution ▪ Positioned ourselves as a leading ▪ Well diversified experience of contractor to a leading EPC capabilities coupled with in- EPC service provider, as constructing township schemes p
Slide 17: Repeatedly serviced India’s leading developers and corporates
Repeatedly serviced India’s leading developers and corporates One stop solution Received inbound business from top architectures, developers, and corporates due to our work-ethic, construction quality, ethos, and faster project turnaround Client Technology 6 5 5 4 4 3 2 2 2 Ecosystem Shivalik Group
Slide 18: Value-accretive payment terms
Value-accretive payment terms One stop solution Invoice raised after slab is casted, ensuring steady Milestone-based payment cash conversion Client Pass-through clause Mitigate fluctuating commodity prices Technology Flexible payment terms Limiting downside execution risk Ecosystem ~3% of project re
Slide 19: Transforming Ahmedabad’s real estate market with global leading technology
Transforming Ahmedabad’s real estate market with global leading technology One stop solution Client Technology Ecosystem Equipment name : Aluminum Monolithic Formwork Equipment name : Peri Up MI System for Beam Bottom Equipment name : Peri Handset Alpha Country of origin : Malaysia Country of origin
Slide 20: Deploying our logistics fleet to efficiently mobilize resources
Deploying our logistics fleet to efficiently mobilize resources One stop solution Client Technology Ecosystem Number of Mixers : 20 Number Concrete Pump : 6 Number of JCBs : 2 Number of boom placer : 1 People Number of static boom : 3 Number of transport vehicle : 5 Number of loader : 5 20
Slide 21: Leverage refurbishing yard to enhance margins (1/2)
Leverage refurbishing yard to enhance margins (1/2) One stop solution Client Technology Ecosystem People Increase life of construction materials through our state-of-the-art refurbishing yard 21
Slide 22: Leverage refurbishing yard to enhance margins (2/2)
Leverage refurbishing yard to enhance margins (2/2) One stop solution Client Technology Ecosystem People Balance use of new and refurbished material without compromising on quality, thereby enhancing margins 22
Slide 23: Internal talent and long-term leadership: Our execution backbone
Internal talent and long-term leadership: Our execution backbone One stop solution Client ▪ Believe in promoting internal ▪ Senior management team has talent over hiring senior been with the company for external candidates, resulting over 25 years in low attrition Technology Ecosystem ▪ Professional
Slide 24: Our focus on manpower safety
Our focus on manpower safety One stop solution Client Technology ▪ Reported zero casualties in FY25 reflecting our commitment to strict safety protocols ▪ All our employees, including workers, are covered by robust insurance policies Ecosystem ▪ Enable advanced safety system like EPS (Edge Protectin
Slide 25: Agenda
Agenda 1. Executive summary 2. About Chavda Infra limited 3. Competitive moats 4. Ongoing & completed projects 5. Investment rationale 6. Historical business performance 7. Select financial statement data 8. Annexures The Park 25
Slide 26: Transforming Ahmedabad’s skyline with our ongoing high-rise projects (1/4)
Transforming Ahmedabad’s skyline with our ongoing high-rise projects (1/4) The Identity Trogon Twin Towers Nirma Corporate House Height : 119.8 meters Height : 125.8 meters Height : 145.0 meters Order Value : ₹219.0 crores Order Value : ₹147.0 crores Order Value : ₹72.0 crores 26
Slide 27: Transforming Ahmedabad’s skyline with our ongoing high-rise projects (2/4)
Transforming Ahmedabad’s skyline with our ongoing high-rise projects (2/4) Be Free The 31st Anantara Alora Height : 72.4 meters Height : 125.6 meters Height : 72.4 meters Order Value : ₹42.1 crores Order Value : ₹36.5 crores Order Value : ₹33.7 crores 27
Slide 28: Transforming Ahmedabad’s skyline with our ongoing high-rise projects (3/4)
Transforming Ahmedabad’s skyline with our ongoing high-rise projects (3/4) The Park VR Reflection Mondeal One Height : 123.0 meters Height : 74.0 meters Height : 144.0 meters Order Value : ₹30.0 crores Order Value : ₹29.9 crores Order Value : ₹23.9 crores 28
Slide 29: Transforming Ahmedabad’s skyline with our ongoing high-rise projects (4/4)
Transforming Ahmedabad’s skyline with our ongoing high-rise projects (4/4) Centroid La Marque Anantara Imperial Height : 74.0 meters Height : 124.8 meters Height : 74.9 meters Order Value : ₹22.9 crores Order Value : ₹21.6 crores Order Value : ₹13.4 crores 29
Slide 30: Other ongoing high-value projects
Other ongoing high-value projects Kalrav Nest Nirma Hostel H5 Manor Ananda Order Value : ₹125.0 crores Order Value : ₹57.3 crores Order Value : ₹15.6 crores 30
Slide 31: Completed landmark projects (1/3)
Completed landmark projects (1/3) Amara Zaveri Solitaire Sky Straft Luxuria Developer name : Zaveri Realty Developer name : Kraft Infrastructures Developer name : Straft 31
Slide 32: Completed landmark projects (2/3)
Completed landmark projects (2/3) Solitaire Connect Binori B Square 3 Manor Greenz Developer name : ARK Infra Developer name : Binori Group Developer name : Winsome Realty 32
Slide 33: Completed landmark projects (3/3)
Completed landmark projects (3/3) Apurva Amin Corporate House Nirma University – Old Building Shivalik Sharda Harmony Client name : Apurva Amin Architects Client name : Nirma Developer name : Shivalik 33
Slide 34: Agenda
Agenda 1. Executive summary 2. About Chavda Infra limited 3. Competitive moats 4. Ongoing & completed projects 5. Investment rationale 6. Historical business performance 7. Select financial statement data 8. Annexures Kalrav Nest 34
Slide 35: Investment rationale: Chavda Infra Limited
Investment rationale: Chavda Infra Limited Capitalizing on Gujarat's Laser sharp focus on private Prudent expansion Enhance execution growth momentum sector projects strategy capabilities ▪ Leverage our operational ▪ Preferred contractors of India’s ▪ Not focused solely on order ▪ Continue to improv
Slide 36: Agenda
Agenda 1. Executive summary 2. About Chavda Infra limited 3. Competitive moats 4. Ongoing & completed projects 5. Investment rationale 6. Historical business performance 7. Select financial statement data 8. Annexures Nirma Corporate House 36
Slide 37: Historic business performance (1/3)
Historic business performance (1/3) Revenue from operations (₹ crs.) EBITDA (₹ crs.) PAT (₹ crs.) 261 56 242 19 21 43 162 12 27 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 Total workforce EBITDA margin PAT margin 296 21.6% 8.0% 273 17.6% 16.7% 7.8% 177 7.4% FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 F
Slide 38: Historic business performance (2/3)
Historic business performance (2/3) Debtor days Inventory days Payable days 112 275 283 93 240 70 156 162 112 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 Cash conversion days Working capital days Net debt to equity 148 156 106 1.8 76 1.4 86 0.9 41 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 38
Slide 39: Historic business performance (3/3)
Historic business performance (3/3) Return on equity Return on capital employed Completed projects 39.6% 36.6% 8 29.8% 5 20.3% 18.8% 14.9% FY23 FY24 FY25 FY23 FY24 FY25 FY24 FY25 Orderbook (₹ crs.) Order inflow (₹ crs.) Orderbook to sales 703 53.0% 2.8 2.7 458 447 33.0% 1.8 30.0% FY23 FY24 FY25 FY23
Slide 40: Agenda
Agenda 1. Executive summary 2. About Chavda Infra limited 3. Competitive moats 4. Ongoing & completed projects 5. Investment rationale 6. Historical business performance 7. Select financial statement data 8. Annexures Be Free 40
Slide 41: Income statement
Income statement ₹ crores unless otherwise mentioned Particulars H2 FY24 H2 FY25 YoY change (%) FY24 FY25 YoY change (%) Revenue from operations 139.1 146.5 5% 241.7 261.4 8% Cost of materials consumed including finished goods and WIP 50.7 50.7 0% 112.7 102.5 -9% Construction Expenses 47.1 46.1 -2%
Slide 42: Balance sheet
Balance sheet ₹ crores unless otherwise mentioned Assets FY24 FY25 YoY change (%) Property, plant & equipment 67.1 74.2 11% Net deferred tax asset 1.0 2.3 125% Other non-current assets 3.6 3.2 -11% Inventories 74.1 74.3 0% Trade receivables 46.6 80.3 72% Cash and bank balance 2.3 8.9 287% Short-term
Slide 43: Agenda
Agenda 1. Executive summary 2. About Chavda Infra limited 3. Competitive moats 4. Ongoing & completed projects 5. Investment rationale 6. Historical business performance 7. Select financial statement data 8. Annexures 8a. Ahmedabad’s real estate industry Anantara Alora 43
Slide 44: Key drivers behind Ahmedabad’s spatial growth
Key drivers behind Ahmedabad’s spatial growth 2000 2010 2015 2020 Structural drivers influencing Ahmedabad’s urban spread City’s existing infrastructure Migration and Planned urban population growth development International 1,517 km 2,380 km 40.03 km airport Sardar Vallabhbhai Length of railway Len
Slide 45: Ahmedabad’s residential real estate market
Ahmedabad’s residential real estate market 50, 000 Supply, absorption and inventory trends 55 45,385 42,313 45, 000 40,016 45 40, 000 46 36,515 37,417 34,122 31,445 35, 000 29,827 35 29,008 26,887 30, 000 25, 000 28 22,850 25 20, 000 23 17,192 22 17,360 20 15, 000 18 13,812 17 15 10, 000 5 5,0 00 0
Slide 46: Can Ahmedabad become the next Hyderabad?
Can Ahmedabad become the next Hyderabad? Planned infrastructure unlocking Policy push transformed Hyderabad’s real estate industry Ahmedabad’s potential ▪ Government gave policy support to place it as an IT hub by promoting IT institutes, Hi-Tech city, software technology park and establishing a fin
Slide 47: Agenda
Agenda 1. Executive summary 2. About Chavda Infra limited 3. Competitive moats 4. Ongoing & completed projects 5. Investment rationale 6. Historical business performance 7. Select financial statement data 8. Annexures 8b. About Chavda group The 31st 47
Slide 48: About Chavda group
About Chavda group Lead the construction industry by exemplifying excellence, integrity, and innovation Our mission extends beyond construction to creating and uplifting communities. We in every project we undertake. By adapting cutting-edge technologies and practices, are dedicated to reaching new
Slide 49: Safe harbor statement
Safe harbor statement This presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase any securities (“Securities”) of Chavda Infra Limited (“Chavda” or the “Company”) in India or any other jurisdicti
Slide 50: For any further information/queries, please contact
For any further information/queries, please contact: Company Investor relations consultant Chavda Infra Limited Capital Bridge Advisory Service Private Ltd Mr. Mayank Shah Mr. Rutul Shah Mr. Raj Shah, CFA CFO rutul@capbridge.in raj@capbridge.in compliance@chavdainfra.com +91 8200247366 +91 992591129