Suraj Estate Developers Limited · NSE:SURAJEST
Suraj Estate Developers — Investor Presentation (February 2024)
46 slides from Suraj Estate Developers's investor presentation, Feb 19, 2024
Slide 1: Suraj Estate Developers Limited Investor Presentation February 2024
Suraj Estate Developers Limited Investor Presentation February 2024
Slide 2: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Suraj Estate Developers Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitati
Slide 3: Message From The Executive Director
Message From The Executive Director Commenting on the performance, Mr. Rahul Thomas, Executive Director, Suraj Estate Developers, said, “A key indicator of economic vitality, the real estate sector, has displayed resilience with increased sales volumes across key demand markets and segments. With in
Slide 4: Q3 & 9MFY24 Financial and Operational Highlights
Q3 & 9MFY24 Financial and Operational Highlights
Slide 5: Q3FY24 Operational & Financial Performance
Q3FY24 Operational & Financial Performance Total Income* EBITDA EBITDA Margin PAT Rs 106.1 crs Rs 69.7 crs 65.8% Rs 16.5 crs Sales Mix (Q3FY24) Sales Area (Sq Ft) Sales Value (Rs cr) 35,537 143 92 21,335 85 19,397 44% 56% Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Collections (Rs cr) Average Realisat
Slide 6: Key Performance Indicators
Key Performance Indicators 9MFY24 Performance Indicators Total Income EBITDA EBITDA Margin PAT Rs 312.7 crs Rs 180.3 crs 57.8% Rs 48.0 crs Sales Area (Sq Ft) Sales Value (Rs cr) Collections (Rs cr) 142,817 Residential Commercial 635 346 269 89,949 84,423 437 205 1,03,044 360 361 39,773 197 FY22 FY23
Slide 7: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars Q3FY24 Q2FY24 Q-o-Q (%) 9MFY24 FY23 Revenue from operations 106.0 103.5 311.9 305.7 Other income 0.2 0.2 0.8 2.1 Total income 106.1 103.7 2.4% 312.7 307.9 Expenses Operating and project expenses 71.1 43.2 142.3 166.0 Changes in Inventory of CWIP -39.7
Slide 8: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars 9MFY24 FY23 CASH FLOW FROM OPERATING ACTIVITIES Profit before taxes 64.3 43.2 Adjustments for Interest expenses/income, depreciation 74.8 106.7 Operating profit / (loss) before working capital changes 139.2 149.9 Changes in Working Capital 40.4 45.0 Direc
Slide 9: Suraj Estate Developers Limited was listed on the Stock Exchanges on 26th December, 2023
Suraj Estate Developers Limited was listed on the Stock Exchanges on 26th December,2023
Slide 10: Objects Of The Issue
Objects Of The Issue Utilization Of IPO Proceeds Particulars Amount (Rs cr) Repayment / prepayment of aggregate outstanding borrowings of the Company and 285 IPO Proceeds Subsidiaries Rs 400 Crs Acquisition of land or land development rights 35 Issue Expenses 35 General corporate purposes 45 Repaid
Slide 11: 'Suraj'- Leading Real Estate Developer in South Central Mumbai (SCM)
‘Suraj’- Leading Real Estate Developer in South Central Mumbai (SCM) 1+ Million sq.ft. constructed in prime locations in the South Central Mumbai 42 16 Upcoming Projects Completed projects across residential & commercial segments 37 Years of experience in the real estate market of South-Central Mumb
Slide 12: One of the Market Leaders in Redevelopment Projects in SCM
One of the Market Leaders in Redevelopment Projects in SCM* Sub-markets of South ONE OF THE MARKET LEADERS IN REDEVELOPMENT Central Mumbai (SCM) Value Luxury 1 BHK and compact 2 Mahim BHK flats 263 Projects Launched in SCM sub-markets Matunga Dadar Luxury 160 (~61%) 103 (~39) 2/3/4 BHK flats Redevel
Slide 13: Redevelopment Expertise
Redevelopment Expertise Step 0 Timelines Identification Of Land Bank (Plot Size, Title, Location, Tenant Density& FSI Scheme) Step 1 Zero Date Acquisition of land by way of Conveyance / Development Rights / JDA Step 2 4-6 Months Obtaining 51% consent of tenants for redevelopment Step 3 3 Months Obta
Slide 14: SCM : A Lucrative Micro Market In Mumbai
SCM : A Lucrative Micro Market In Mumbai Dynamics of SCM Market Large pool of old/dilapidated buildings Close proximity to key locations such as BKC, Worli sea link, Lower Parel, etc One of the few locations which allows residential + commercial projects to be constructed Improving infrastructure vi
Slide 15: Our Journey Spanning Over 37 Years
Our Journey Spanning Over 37 Years 1986 1990 1992 2000 2005 Incorporated as a private Completed maiden Delivered a building at Delivered ‘ICICI Apartments’ at Delivered 14 residential limited company residential project at Dadar (W) to a public Dadar (W) as office quarters apartments in Dadar (W) to
Slide 16: Proven Track Record Of Delivering Residential And Commercial Projects
Proven Track Record Of Delivering Residential And Commercial Projects Timeline of completed projects Residential and Commercial Projects 9 2,40,412 8 2,04,957 6 1,85,649 1,59,720 1,65,418 8 7 90,386 4 1990-1995 1996-2000 2001-2005 2006-2010 2011-2015 2016-2022 Developed areas Consultant and Contract
Slide 17: Comparison Of Various Business Models In MMR Region
Comparison Of Various Business Models In MMR Region Redevelopment of Tenanted Properties Redevelopment of Society Vacant Land- Normal Parameters (Conveyance/ DA) Under DCPR 33(7)A Under DCPR 33(7) B Development Land Status Conveyance / DA DA Conveyance / JDA Upfront Capital Requirement Moderate Low
Slide 18: Competitive Strengths
COMPETITIVE STRENGTHS
Slide 19: Competitive Strengths
Competitive Strengths Diversified Portfolio Across Value Marketing & Sales Strategy Luxury And Luxury Segments High Engagement Levels Through The Customer Present Across Price Points, Unit Lifecycle Create Network Effect Sizes And Sub-Markets In The SCM Experienced Board Of Directors With A Proficie
Slide 20: Established Residential Real Estate Brand in SCM
Established Residential Real Estate Brand in SCM Leading Market Position & Ability To Sell During Construction Phase 60% Ongoing Residential Projects 16% 13% In terms of supply of 11% Project Sale Collecti Area Unsol Avg Developa Carpet Sales ons % of units Sr. Project Sold d Area Realisa 1#1st Sura
Slide 21: Diversified Portfolio Across Value Luxury And Luxury Segments (1/2)
Diversified Portfolio Across Value Luxury And Luxury Segments (1/2) Present Across Price Points, Unit Sizes And Sub-Markets In The SCM Ongoing Projects Upcoming Projects Carpet Area For Sale* 7% Total Total Estimated Carpet Area For Sale 6,09,920 7,44,149 19% 31% sq.ft. sq.ft. 14% 44% 21% 60% Carpet
Slide 22: Diversified Portfolio Across Value Luxury And Luxury Segments (2/2)
Diversified Portfolio Across Value Luxury And Luxury Segments (2/2) Ongoing Projects : Presence across unit sizes and price points No. of offerings 12 Value Luxury Luxury Ticket Size : INR 10-30 mn Ticket Size : INR 30-13 mn 6 4 4 3 2 1 1 300-400 400-500 500-650 650-800 800-950 1000-1300 1300-1500 1
Slide 23: Strong Expertise In Tenant Settlement In Redevelopment Projects
Strong Expertise In Tenant Settlement In Redevelopment Projects Strong Track Record Of Tenant Settlement Redeveloped houses for 1,011 tenants free-of-cost Preferred Redevelopment Developer Freed up considerable FSI for commercial development As most land parcels in SCM are in the nature of redevelop
Slide 24: Marketing & Sales Strategies
Marketing & Sales Strategies High Engagement Levels Through The Customer Lifecycle Create Network Effect Marketing Team Sourcing Team Customer Centric Approach › Identifies target market groups › Interacts with channel Continuous customer engagement during and uses promotional tools to partners to d
Slide 25: Market Opportunity (1/2)
Market Opportunity (1/2) MMR is the top performer* in overall residential real estate activity Supply Absorption MMR CAGR in value terms over a 35% 30% Others 10% longer term 65% 70% New launches in 2024 are likely to be almost 2 times as compared to (No of units) MMR Others 2X 2021 levels and are e
Slide 26: Market Opportunity (2/2)
Market Opportunity (2/2) Redevelopment is a large, ongoing opportunity in SCM SCM is an attractive real estate market o High income, discerning customer base 52,000 19,642 16,502 o Aspirational value/premium product positioning units o High demand across multiple segments and price points Supply fro
Slide 27: Experienced Board Of Directors
Experienced Board Of Directors… Rajan Meenathakonil Thomas Sujatha R. Thomas Rahul Rajan Jesu Thomas PROMOTER , CHAIRPERSON & MD NON-EXECUTIVE DIRECTOR WHOLE - TIME DIRECTOR Education: B.A. Education: B.A. Education: B.Com, Corporate Finance certificate from Harvard University Experience : 36 Years
Slide 28: Experienced Board Of Directors
Experienced Board Of Directors… Shreepal Shah Shivil Kapoor Dipen Seth CHIEF FINANCIAL OFFICER COMPANY SECRETARY, COMPLIANCE OFFICER VICE PRESIDENT - SALES Education: B.E, MBA Education: B.Com, LLB, CS Education: B.Com Previous Stint : Kotak Investment Banking , P. Raj Previous Stint : Svantantra Mi
Slide 29: Key Business Strategies
ea KEY BUSINESS STRATEGIES |
Slide 30: Key Business Strategies
Key Business Strategies 1. Enhance Market Leading Position in SCM 3. Expand Land Reserves in SCM and Other MMR 5. Continue to focus on redevelopment projects Sub-markets through asset light model Upcoming projects to consolidate our positioning in SCM and expand in to Bandra sub-market o Follow flex
Slide 31: Historical Financials
HISTORICAL FINANCIALS \ VS CO". ececqqnneneensc es i I eS
Slide 32: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars FY23 FY22 FY21 Revenue from operations 305.7 272.7 240 Other income 2.1 1.2 4 Total income 307.9 273.9 244 Expenses Operating and project expenses 166 180.7 164.2 Changes in inventories of construction work in progress -31.3 -55.7 -22.3 Employee benef
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars FY23 FY22 FY21 Particulars FY23 FY22 FY21 ASSETS EQUITY AND LIABILITIES Equity Non-current assets a) Equity share capital 15.9 15.9 6.4 a) Property, plant and equipment 3.4 3.8 4.9 b) Other equity b) Intangible assets 12.1 12.7 14.2 - Other reserves 71.7 39.4 2
Slide 34: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars FY23 FY22 FY21 CASH FLOW FROM OPERATING ACTIVITIES Profit before taxes 43.2 36.2 9.0 Adjustments for Interest expenses/income, depreciation 106.7 93.8 80.3 Operating profit / (loss) before working capital changes 149.9 130.0 89.4 Changes in Working Capita
Slide 35: Annexures
ANNEXURES
Slide 36: Ongoing Residential Projects
Ongoing Residential Projects The Palette Ocean Star-I Vitalis Emmanuel Suraj Eterna • This project is in Luxury • This project is in the Value • This project is in the Luxury • This project is in the Value • This project is in the Value Segment and comprises of 2 Luxury Segment. It is a 20- Segment
Slide 37: Ongoing Residential Projects
Ongoing Residential Projects Nirvana Louisandra Ave Maria Park View Suraj Lumina • A value luxury/luxury • A Value luxury standalone • A 24-storey value luxury • A value luxury project with • The project comprises of both project with Top-of-the-line tower with compact units of residential tower in
Slide 38: Summary Of Ongoing Projects
Summary Of Ongoing Projects Particulars Remarks Particulars Remarks Area Sold (Sq Ft) 4.66 Total Unsold Area (Sq Ft) 1.44 Average Realisation 37,910 Achieved (Rs per sq ft) Average Estimated Realisation Of Unsold Area (Rs Per Sq Ft) 52,083 Collections Received (Rs 1,060.35 Cr) Balance Receivable (Rs
Slide 39: Completion Targets For Ongoing Projects
Completion Targets For Ongoing Projects GDV of Rs 708 cr from ongoing projects Eterna Park View Balance Cash flow of Rs 1,458 cr to flow from FY25-FY29E from area sold and balance unsold area FY29 FY26 Vitalis Ocean Star Suraj Emmanuel FY27 Suraj Lumina Ave Maria Louisandra Nirvana CCIL Bhavan The P
Slide 40: Ongoing Projects
Ongoing Projects Completion Project Sale Carpet Avg Sr. Area Sold Unsold Area Sales Achieved Collections Project Name Location Type Status Date (As Filed Developable Area Area (lakhs Realisation (Rs No. (lakhs Sq ft) (Lakhs Sq ft) (Rs cr) Received (Rs cr) with RERA) (lakhs Sq ft) Sq ft) cr) 1 Louisa
Slide 41: Strong Project Pipeline and Cash Flow Trends
Strong Project Pipeline and Cash Flow Trends Sr. No. Project Name Location Type Segment Estimated Carpet Area for sale (sq.ft) 1 Kowliwadi & Kripasiddhi Building Prabhadevi Residential Value Luxury 23,887 2 Madonna Wing B Dadar (W) Residential Value Luxury 13,660 3 Gudekar House & Irani Building Dad
Slide 42: Land Reserves
Land Reserves Plot Area Name of Company’s /Entity’s Leased/ company/entity that is Sr. No. Location effective stake in the Owned/Developmen the developer of the project (%) t Rights project Square Meters 1 C.T.S.No.918 Mount Mary, Hill Road, Bandra (W) Accord Estates Pvt. Ltd. 100 Leasehold Rights 1
Slide 43: Completed Projects
Completed Projects Company's / respective Occupation certificate for all Name of company/entity that is entity's Developed Area Type and Date of Occupation floors Sr. No Project Name Location the developer of the project stake in configuration certificate project (square (%) (square feet) Yes/ No me
Slide 44: Completed Projects
Completed Projects Name of Company's / Occupation certificate for all company/entity that is respective entity's Developed Area Date of Occupation floors Sr. No Project Name Location Type and configuration the developer of the stake in project certificate project (square (%) (square feet) Yes/ No me
Slide 45: Completed Projects
Completed Projects Company's / Name of company/entity Occupation certificate for all respective entity's Developed Area that is the developer of Date of Occupation floors Sr. No Project Name Location Type and configuration stake in project the project certificate (square (%) (square feet) Yes/ No me
Slide 46: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Suraj Estate Developers Limited Strategic Growth Advisors Pvt. Ltd. CIN - L15142DL1974PLC007349 CIN - U74140MH2010PTC204285 Mr. Rahul Agarwal/Ms. Brinkle Shah Jariwala rahul.agarwal@sgapl.net /brinkle.shah@sgapl.net www.
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