Sunteck Realty Limited · NSE:SUNTECK
Sunteck Realty — Q1 FY2025 Earnings Presentation
29 slides from Sunteck Realty's earnings presentation, Aug 14, 2024
Slide 1: Exchange filing cover letter for Investor Presentation
Sunteck Realty Ltd. Date: 14th August, 2024 SRL/SE/35/24-25 National Stock Exchange of India Ltd BSE Limited Exchange Plaza, Plot no. C/1, G Block, Phiroze Jeejeebhoy Tower, Bandra-Kurla Complex, Bandra (East), Dalal Street, Mumbai - 400 051 Mumbai - 400 001 Symbol: SUNTECK Scrip Code: 512179 Sub: I
Slide 2: Sunteck Realty Limited Investor Presentation Q1 FY2025
Sunteck Realty Limited Investor Presentation Q1 FY2025 August 2024 NSE: SUNTECK | BSE: 512179 | Bloomberg: SRIN: IN | Reuters: SUNT.NS / SUNT.BO 1
Slide 3: Disclaimer
Disclaimer By attending the meeting where this presentation is made and any additional material is provided (“Presentation”) or by reading the Presentation, you (“Recipient”), agree to be bound by the following limitations. This Presentation has been prepared on the basis of the estimates of the man
Slide 4: Highlights of Q1 FY25
Highlights of Q1 FY25 Operational & Financial Highlights • Pre-sales grew by 30% YoY to ~Rs 502 cr • Collections grew by 19% YoY to ~Rs 342 cr • Operating Cash Flow Surplus of ~Rs 100 cr – a growth of 32% YoY • Net Debt “ZERO” company (Net Cash Surplus is ~Rs 39 cr) Business Update • Addition of Pro
Slide 5: Key Strengths - Why Sunteck?
Key Strengths - Why Sunteck? 4
Slide 6: Key Strengths – Why Sunteck?
Key Strengths – Why Sunteck? 1 2 3 Well-timed Capital Strong Foothold in Luxury portfolio in every Allocation for MMR market - largest segment & across micro- acquisitions - Acquired & fastest growing markets - from uber luxury more than ~50 mn sq ft & market in India to aspirational luxury GDV of ~
Slide 7: Snapshot
Snapshot Strong Operational Foothold One of the large Well-timed developers in MMR INR~37,480 cr of ~50 MSF+ total 18 projects capital allocation – largest & fastest GDV from ~8 large development successfully with JDA & growing market projects acquisitions delivered outright model 6 Rs 1 cr = Rs 10
Slide 8: Strong Foothold in MMR Market – largest & fastest growing in India
1 Strong Foothold in MMR Market – largest & fastest growing in India MMR-Focused Luxury Real Estate Developer (1/2) By Location Volume By Project Brands 7
Slide 9: MMR is the most attractive real estate market in India
1 Strong Foothold in MMR market – largest & fastest growing in India MMR is the most attractive real estate market in India (2/2) MARKET SHARE BY VALUE Others NUMBER OF UNITS SOLD IN - FY24 & Q1FY25 90,314 28% MMR 60,137 39% 53,789 50,730 34,130 23,516 14,271 13,471 12,693 15,448 16,561 9,023 5,193
Slide 10: Luxury portfolio in every segment & across micro-markets
2 Luxury portfolio in every segment & across micro-markets From Uber Luxury to Aspirational Luxury Premium positioning by creating different luxury brands across segments 9
Slide 11: Well-timed Capital Allocation for acquisitions
3 Well-timed Capital Allocation for acquisitions Acquired more than ~50 mn sq ft & GDV of ~Rs.37,480 cr (1/3) ACQUISITION STRENGTH • RESEARCH BASED ACQUISITIONS • ABILITY TO PREDICT GROWTH AREAS AHEAD OF THE CURVE • HIGH EQUITY MULTIPLE PHILOSOPHY OUTRIGHT ACQUISITION / MAJOR CAPITAL ALLOCATION JOIN
Slide 12: Gross Development Value (GDV)
3 Gross Development Value (GDV) Achieved pre-sales growth of ~30% in Q1 FY25 (2/3) GDV – ~Rs 37,480 cr GDV – Balance Gross Development Value excluding sales already done Burj Khalifa Community, (Near Dubai Mall) Rs 1 bn = Rs 100 cr 8 Downtown, Dubai GDV – Rs 9,000 cr Launched Nepean Sea Road Upcomin
Slide 13: Addition of Project – Burj Khalifa Community, Downtown, Dubai
3 Addition of Project – Burj Khalifa Community, Downtown, Dubai To contribute ~Rs 9,000 cr to the GDV (3/3) Sunteck Dubai Project • To develop Luxury Residences. • The project is located at Burj Khalifa Community (Near Dubai Mall), Downtown, Dubai – the most sought-after address in Dubai. • The tota
Slide 14: Expanding Annuity Income Portfolio
4 Expanding Annuity Income Portfolio Rs 300 cr+ rental, capital value creation of ~Rs 5,000 cr Sunteck Icon and Sunteck BKC 51 at BKC Junction has been pre-leased for a tenure of 29 years Both commercial assets have generated an Avg. ROIC of ~30% Launched Upcoming Capital Value – ~Rs 5,000 cr 5th Av
Slide 15: Strong Financial Performance
5 Strong Financial Performance Amongst industry best financials Pre-sales ~20%+ Cashflow AA Long term INR 750 cr Net Debt to growth @~30% Surplus Yield credit rating from partnership with Equity @ Zero India Ratings IFC – World Bank (Fitch) Group 14 Rs 1 cr = Rs 10 mn
Slide 16: Pre-sales and Collections registering strong growth
5 Strong Financial Performance Pre-sales and Collections registering strong CAGR growth of 30% & 19% (1/4) Operational Trend Q1 FY25 Q1 FY24 YoY (%) Q4 FY24 FY24 Pre-Sales 502 387 30% 678 1,915 Collections 342 288 19% 296 1,236 Annual Pre-sales (~Rs cr) Annual Collections (~Rs cr) 2,500 1,600 1,915
Slide 17: Cashflow Surplus Yield
5 Strong Financial Performance Cashflow Surplus Yield @~21% (2/4) Net CF Surplus (~Rs cr) Net CF Surplus Yield 600 25% 22% 21% 500 484 20% 428 400 15% 15% 281 12% 300 239 10% 200 5% 100 0 0% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 • As the company follows Project Completion Method of Accounting, CF
Slide 18: Strong Net Cash Flow Surplus surpasses Rs 1,500 cr
5 Strong Net Cash Flow Surplus surpasses Rs 1,500 cr Net Operating surplus grows by 32% YoY in Q1FY25 (3/4) Particulars (~Rs cr) Q1 FY25 Q1 FY24 % Growth Cumulative NOCF Surplus (~Rs cr) 1800 Gross Collections 342 288 19% 1600 1,532 1,432 Less: Project Expenses 158 145 1400 Less: JDA Revenue Share 2
Slide 19: Net Debt to Equity @ ZERO (Net Cash Positive)
Strong Financial Performance 5 Net Debt to Equity @ ZERO (Net Cash Positive) Sunteck’s Long-Term Credit Rating upgraded from AA- to AA from India Ratings (Fitch) (4/4) 2.00x Particulars (~Rs cr) FY22 FY23 FY24 Q1’25 Gross Debt 700 593 295 271 1.50x Less: Cash & Cash Equivalents 97 158 106 95 1.04x ~
Slide 20: Successful Equity Partnerships
6 Successful Equity Partnerships Recent Partnership • Sunteck & IFC – World Bank Group form Joint Investment Platform of up to ~Rs 750 cr • Key highlights of the partnership • MMR focused platform to build high-quality green urban large-scale housing projects targeting the mid-income demographic • U
Slide 21: Annexure: Q1 FY25 Financial Results
Annexure Q1 FY25 Financial Results 20
Slide 22: P&L Statement
P&L Statement Strong Revenue growth of 348% & PAT growth of 438% PROFIT & LOSS STATEMENT (Consol) Particulars Q1 FY25 Q1FY24 YoY % Q4FY24 FY24 Operating Revenue 316 71 348% 427 565 Core EBITDA 79 30 163% 199 266 EBITDA 31 -7 521% 153 117 PBT 30 -9 416% 140 95 Net Income 23 -7 438% 101 71 • Company f
Slide 23: Balance Sheet
Balance Sheet Sunteck upgraded to AA from AA- by India Ratings (Fitch) BALANCE SHEET – FY24 Liabilities Rs Cr Assets Rs Cr Networth 3,124 Receivables 293 Borrowings 375 Inventories 5,966 Non-Current Liabilities 17 Loans & Advances 291 Current Liabilities 1,192 Cash & Bank 106 Others 3,215 Others 1,2
Slide 24: Operational Performance Break-up
Operational Performance Break-up Q1 FY25 Pre-sales Collections Segment Projects (~Rs cr) (~Rs cr) Uber Luxury Signature, Signia 110 114 Sunteck City, SBR, Sky High Mid-income 232 75 Park Low Mid-Income Sunteck World 121 136 Others 38 17 Total 502 342 Rs 1 cr = Rs 10 mn 23
Slide 25: Annexure: ESG & Awards
Annexure ESG & Awards 24
Slide 26: GRESB 5-star rating
> Sunteck Realty has received the prestigious 5-star rating from GRESB (Global Real Estate Sustainability Benchmark) in its second year of submission with a strong score of 95 > Sunteck Realty has been ranked 3rd rank in Asia-pacific Diversified Office/ Residential Peer comparison
Slide 27: Green Building Initiatives
Green Building Initiatives • Four projects, 4th Avenue, SunteckCity, ODC Goregaon W; Sunteck • Our HO Sunteck Centre Maxxworld & Sunteck Oneworld, Naigaon and Sunteck Beach has been awarded LEED Residences (SBR), Vasai W has been awarded with EDGE (Excellence GOLD certification by US in Design for G
Slide 28: Awards
Awards ‘International Asia Pacific Property Awards’ UK 2024-25 in the category of ‘Sustainable Residential Development’ for the prestigious project ‘4th Avenue, Sunteck City’ 27
Slide 29: Thank you
Thank you ir@sunteckindia.com 28