Puravankara Limited · NSE:PURVA
Puravankara — Puravankara Projects — Q3 FY2015 Earnings Presentation
51 slides from Puravankara's earnings presentation, December 2014
Slide 1: Puravankara Projects Limited
Puravankara Projects Limited Purva Eternity, Kochi December 2014
Slide 2: Contents
Contents • Company Overview 3-9 • Area information 10 - 16 • Sales 17- 20 • Cash Flows 21- 24 • Income Statement Analysis 25 - 30 • Balance Sheet and Statement of Capital Employed 31 - 33 • Debt 34 - 35 • Shareholding Pattern/ Stock Movement 36 - 38 • Leadership 39 • Location Maps 40- 44 • Project P
Slide 3: Company Overview
PURAVANKARA Company Overview
Slide 4: Overview
Overview • Deep domain knowledge of 40 years of the Promoter Mr. Ravi Puravankara, and his team have established Puravankara as a developer of repute; • Amongst South India’s leading real estate developer with an established presence in residential segment comprising of luxury and premium affordable
Slide 5: Premium Affordable housing through Provident Brand
Premium Affordable housing through Provident Brand • Established Provident Housing Limited in 2008 to create mid and mass housing projects comprising quality affordable apartments in response to burgeoning demand for mid-income housing • Affordability is a combination of – Efficient design improving
Slide 6: Projects portfolio of Provident
Projects portfolio of Provident Pudupakkam / Chennai / (2.2 msft) FY 2009-2010 Doddaballapur Rd, Bengaluru (3.5 msft) For Video please click: Provident Welworth City FY 2011-2012 Thannisandra Road / Bengaluru / (0.7 msft) Mysore road / Bengaluru / (6.0 msft) For Video please click : Provident Sunwor
Slide 7: Land Assets across various established micro-markets
Land Assets across various established micro-markets Land portfolio Developable area breakup in millions sq. ft. (msft) Completed Ongoing Upcoming Land Assets Total (A) (B) (C) (A)+(B)+(C) Bengaluru 18.54 15.49 10.19 39.58 65.26 Chennai 2.27 5.79 3.24 4.66 13.69 Kolkata 0.70 0.00 0.00 0.00 0.00 Koch
Slide 8: Ongoing and Upcoming Development
Ongoing and Upcoming Development By geography By entity By segment Upcoming 10% Upcoming 14% 9% Upcoming 2% 2% ongoing 10% ongoing 5% ongoing 31% 45% 38% 23% 63% 62% 95% 14% 86% 91% Bengaluru Chennai Kochi Puravankara Provident Residential Commercial Coimbatore Hyderabad Mangalore Ongoing Upcoming O
Slide 9: Summary of Financial Performance
Summary of Financial Performance Revenues (INR crores) EBITDA Profit Before Tax Profit After Tax 700 70% 400 356 40% 300 35% 1,313 595 1,248 61% 350 36% 35% 600 397 60% 250 30% 30% 480 300 196 30% 500 49% 48% 50% 29% 243 243 25% 47% 200 250 24% 24% 25% 816 400 40% 20% 19% 20% 294 37% 200 175 20% 150
Slide 10: Area Information
PURAVANKARA Area Information 10
Slide 11: Area Under Development – Snapshot
Area Under Development – Snapshot in millions sq. ft. (numbers in millions sq. ft.) FY11 FY12 FY13 FY14 9M FY15 Opening Area 16.35 21.12 23.74 28.04 28.43 Add: Launches during the period 1 7.32 5.80 7.28 4.26 1.12 Less: Completed during the period 2 (2.55) (3.18) (2.98) (3.87) (2.45) Less : Exit fro
Slide 12: Current Project Status – 31 December 2014
Current Project Status – 31 December 2014 S.No. Project Location On Area Launched Develop JD / JV Total Puravankara's able Share for Flats Share Area Developer Area Sold Cumulative Inventory Launched Msft Units % Msft Nos Msft Nos Msft % Nos Mn sft % COMPLETED Puravankara 1 Venezia Yelahanka, Bengal
Slide 13: Current Project Status – 31 December 2014 – (contd.)
Current Project Status – 31 December 2014 – (contd.) S.No. Project Location On Area Launched JD / JV Puravankara's Developa Total Share for Share ble Area Flats Area Developer Sold Cumulative Inventory Launched Msft Units % Msft Nos Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION Puravankara 1 Mid-T
Slide 14: Current Project Status – 31 December 2014 – (contd.)
Current Project Status – 31 December 2014 – (contd.) S.No. Project Location Developa Total JD / JV On Area Launched ble Area Flats Share for Developer Puravankara' s Share Area Sold Cumulative Inventory Launched Msft Units % Msft Nos Msft Nos Msft % Nos Mn sft % PHASES TO BE LAUNCHED Puravankara 1 H
Slide 15: Geographic break up of Inventory Status
Geographic break up of Inventory Status Ready to move in Inventory - Total Ready to move in Inventory - By Entity Kochi 0.48 msft; 260 units Bengaluru 0.96 msft; 755 Puravankara units 1.14msft; 630 units Chennai 0.65 msft; 525 units Provident 0.96 msft; 910 units 1. Notes:Charts based on area in msf
Slide 16: Immediate Launches - Schedule
Immediate Launches - Schedule S. No Location City Development Development Developable PPL Saleable Current Status Expected Model Type Area Share in Area Launch Date JD Msft Msft Puravankara 1 Pudupakkam Chennai Own Residential 2.00 100% 2.00 Final stage of Plan approval Q1FY16 Joint 2 UM Kaval Benga
Slide 17: Sales
PURAVANKARA Sales 17
Slide 18: Sales – 3rd Quarter, December 2014
Sales – 3rd Quarter, 31 December 2014 Based on Bookings Quarter Ended Area Sold Units Sold Sale Value Sale Realization Dec-14 Dec-13 % Dec-14 Dec-13 % Dec-14 Dec-13 % Dec-14 Dec-13 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 0.75 0.67 12% 564 458 23% 411 324 27% 5,511 4,856
Slide 19: Sales – Nine months ended December 2014
Sales –Nine months ended December 2014 Based on Bookings 9 Months Ended Area Sold Units Sold Sale Value Sale Realization Dec-14 Dec-13 % Dec-14 Dec-13 % Dec-14 Dec-13 % Dec-14 Dec-13 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 1.98 1.59 25% 1,373 1,054 30% 1,077 750 44% 5,4
Slide 20: Sales Breakup
Sales Breakup Q3 By Entity Q3 By Geography Kochi 5%; 0.05 msft Mangalore Coimbatore 1%; 0.01msft 4%; 0.04msft Provident 26%; 0.26msft Chennai 16%; 0.16 msft Bengaluru Puravankara 74%; 0.74 msft 74%; 0.75 msft 20
Slide 21: Cash Flows
PURAVANKARA Cash Flows 21
Slide 22: Cash Flow – Summary
Cash Flow – Summary Rs. crores Puravankara Provident Total Balance collections from sold units 1 (A) 1,486 464 1,950 Inventory 2 (B) 5,027 2,404 7,431 Residential 4,481 2,404 6,885 Launched 2,970 1,076 4,046 Not Launched 1,511 1,328 2,839 Commercial 546 - 546 Balance cost to go 3 (C) 2,084 1,453 3,5
Slide 23: Cash Flow Statement
Cash Flow Statement Rs. crores Q1 FY -15 Q2 FY -15 Q3 2015 9M FY 2015 FY 2014 Receipts Collection from Sale of Flats 293.89 355.85 366.77 1,016.51 1,283.76 Advance recd for sale of land 161.56 - - 161.56 15.82 Equity Redemption and Dividend from Associates - 38.74 - 38.74 40.79 A Total Receipts 455.
Slide 24: Cash Flow Statement (Contd)
Cash Flow Statement (Contd) Rs. crores Q1 FY -15 Q2 FY -15 Q3 2015 9M FY 2015 FY 2014 D Operating Surplus 45.34 20.72 (75.98) (9.92) (119.70) Investment Activity Purchase of Fixed Assets (3.54) (15.70) (10.25) (29.49) (13.96) Investment in Subsidiaries/Associates (3.78) - (3.78) - Investment in Mutu
Slide 25: Income Statement Analysis
Income Statement Analysis 25
Slide 26: Income Statement – Summary
Income Statement – Summary Rs. Crores Recognised in Q3FY2015 (from projects) Puravankara Provident Others Total Revenue Recognised 1 (A) 280 74 19 373 Land Cost Recognized (B) 44 3 4 52 Construction Costs Recognised 2 (C) 187 50 5 242 Surplus (A) – (B) – (C) 49 21 10 79 Unrecognised as at 31/12/2014
Slide 27: Result Highlights
Result Highlights Rs. crores Q3FY15 Puravankara Provident Starworth Other Subsidiaries and Eliminations Consolidated Total Revenues 285 74 43 -23 379 YoY growth (%) 29% 11% 25% 41% Profit Before Tax 5 3 -11 13 10 YoY growth (%) -72% -60% -470% -66% margins (%) 2% 4% -26% 3% Profit After Tax 33 2 -7
Slide 28: Consolidated Statement of Profit and Loss for the quarter ended 31 December 2014
Consolidated Statement of Profit and Loss for the quarter ended 31 December 2014 Rs. crores Q3 FY 15 Q3 FY 14 Q2 FY 15 FY14 Income Revenue from operations Revenue from projects 375 264 425 1,298 Other operating revenues 4 4 4 12 Other income 1 0 0 3 Total 379 268 429 1,313 Expenses Material and cont
Slide 29: Consolidated Statement of Profit and Loss for the 9M FY15
Consolidated Statement of Profit and Loss for the 9M FY15 Rs. crores 9M FY15 9M FY14 FY14 Income Revenue from operations Revenue from projects 1,258 927 1,298 Other operating revenues 11 9 12 Other income 13 3 3 Total 1,281 938 1,313 Expenses Material and contract cost 651 457 642 Land cost 169 429
Slide 30: Key Financial Indicators
Key Financial Indicators Valuation Matrix (X) 9MFY15 FY 2014 FY 2013 FY 2012 Income Statement (INR crs) 9MFY15 FY 2014 FY 2013 FY 2012 Price/Earnings 13.42 9.95 7.97 10.71 Total Income 1281 1,313 1,248 816 Price /BV 0.88 0.74 1.02 0.86 EBITDA from Operations 315 480 595 397 EV/Sales 2.12 2.39 2.80 3
Slide 31: Balance Sheet and Statement of Capital Employed
Balance Sheet and Statement of Capital Employed 31
Slide 32: Balance Sheet as of 31 December 2014
Balance Sheet as of 31 December 2014 Rs. crores December March December March Equity and Liabilities Assets 2014 2014 2014 2014 Shareholders' Funds Non-Current Assets Share capital 119 119 Fixed assets 123 92 Reserves and surplus 2,166 2,055 Non-current investments 69 71 2,285 2,173 Properties held
Slide 33: Statement of Capital Employed
Statement of Capital Employed Rs. crores 31-Dec-14 31-Mar-14 Sources of Funds Equity 119 119 Reserves and Surplus 2,166 2,285 57% 2,055 2,173 56% Total Debt 1,729 43% 1,695 44% Total 4,013 100% 3,868 100% Application of Funds Land Investments 69 91 Properties held for development 754 743 Advances fo
Slide 34: Debt
PURAVANKARA Debt 34
Slide 35: Debt Structure – December 2014
Debt Structure – December 2014 Term Loan - Others Rs.30 crores Subsidiaries / Associates 2% Rs.275 crores 16% Over Drafts Rs.176 crores 10% Term Loan/Construction Finance -Rs.1248 crores 72% in Rs. Cr Q3-FY15 Q2-FY15 FY 2014 FY 2013 Opening Balance 1,642 1,620 Additions during the period 145 57 Repa
Slide 36: Shareholding Pattern
PURAVANKARA Shareholding Pattern 36
Slide 37: Shareholding Pattern – as at 31 December 2014
Shareholding Pattern – as at 31 December 2014 Individuals and Others DIIs 6% Mutual Funds 1% 8% FIIs 10% Promoters 75% Notes Promoter Shares are unencumbered Key Shareholders Mutual Funds FIIs Insurance and Bodies Corporate SBI AMC HSBC Life Insurance Corporation Reliance AMC College Retirement Equi
Slide 38: Stock Movement
Stock Movement Relative to BSE Realty Index and Sensex during January 1 , 2014 to December 31, 2014 160 150 140 130 120 110 100 90 80 70 60 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Puravankara Sensex BSE Realty As on 31st December 2014 31-Dec-14 30-Sep-14 3
Slide 39: Dedicated and experienced management team
Dedicated and experienced management team – committed to best practices of corporate governance Executive team Non-Executive team Ravi Puravankara Chairman and Managing Director Anup Shah • Over 40 years of experience in real estate industry Independent Director • Former president of the Internation
Slide 40: Bengaluru location map
Bengaluru location map Sl. No. Project Name 1 Highlands/High Crest, Mallasandra 2 Mid-Town, KR Puram 3 Seasons, CV Raman Nagar 4 Sunflower, Magadi Road 5 Skywood, Sarjapur Road 6 Whitehall, Sarjapur Road 7 Harmony, Thannisandra Road 8 Welworth City, Doddaballapur Road 9 Sunworth, Mysore Road 10 Gain
Slide 41: Chennai location map
Chennai location map Sl. No. Project Name 1 Cosmo City, Pudupakkam 2 Swan Lake, OMR 3 Windermere, Medavakkam 4 Primus, OMR 5 Moneto, Guindy 6 Pudupakkam Current Projects Immediate Launches Note: Map not to scale 41
Slide 42: Kochi location map
Kochi location map Sl. No. Project Name 1 Oceana, Marine Drive 2 Grandbay, Marine Drive 3 Eternity, Kakkanad 4 Moonreach, Airport-Seaport Road Current Projects Note: Map not to scale 42
Slide 43: Coimbatore location map
Coimbatore location map Sl. No. Project Name 1 Bluemont/Amaiti, Trichy Road 2 GreenPark, Selvapuram Current Projects Note: Map not to scale 43
Slide 44: Mangalore and Hyderabad location maps
Mangalore location map Hyderabad location map Sl. No. Project Name Sl. No. Project Name 1 Skyworth, Derebail 1 Summit, Kondapur Note: Map not to scale Current Projects 44
Slide 45: Project Pictures
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Slide 46: Project Pictures
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Slide 48: Project Pictures
PURAVANKARA Project Pictures PURVA ATRIA ms Luxury Apartment
Slide 49: Awards and achievements
Awards and achievements Awards for Puravankara projects Purva Fountain Square Best Ornamental Garden, 2013 by the Mysore Horticulture Society Luxury Project of the Year at Realty Excellence Awards, 2011 Purva Windermere - Most Admired Upcoming Project of the Year, 2013 at Real Estate Awards for Reta
Slide 50: Disclaimer
Disclaimer This presentation contains certain forward-looking statements. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, o
Slide 51: THANK YOU
THANK YOU Puravankara Projects Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Corporate Identification Number : L45200KA1986PLC051571 Website:- www.puravankara.com Please contact: Mr. Anil Kumar, Chief Financial Officer Email: cfo@puravankara.com; Tel: +91-80-4343 9688 51
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