Puravankara Limited · NSE:PURVA
Puravankara — Q1 FY25 Earnings Presentation
57 slides from Puravankara's earnings presentation, Jul 31, 2024
Slide 1: Covering letter to stock exchanges
Date: 31.07.2024 To, The General Manager, The Manager, Listing Operations Listing Department, Department of Corporate Services National Stock Exchange of India Limited, BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, P. J. Towers, Dalal Street, Fort, Bandra‐Kurla Complex, Bandra (E), M
Slide 2: Investor Corporate Presentation Q1 FY25
INVESTOR CORPORATE PRESENTATION Artist’s impression of Purva Clermont, Mumbai Q1 FY25 1
Slide 3: Table of contents
Table of contents * Company overview 4–6 * Operational overview – sales and collections 7 – 10 * Diversified offerings across market segments 11-15 * Expanding with a pan-India presence 16– 19 * Execution capabilities 20 – 23 * Efficient capital management 24 – 28 * Update on Financials 29– 31 * Upd
Slide 4: Industry Continues to be on an uptrend
Industry Continues to be on an uptrend India has high quality office space 2023 saw the highest unit at affordable prices. Rental in top absorption in past 7 years. Indian cities is 50% lower than Rising income levels continues to competing Asian markets fuel performance in 2024 Resid Office Sector
Slide 5: Company Overview
Company Overview Investor Presentation Q1 FY25 4
Slide 6: Puravankara: decades of legacy in real estate
Puravankara: decades of legacy in real estate Business overview Differentiated brands • 3 differentiated brands – Purva (luxury and theme based), Provident (affordable) and Purva Land (plotted) ➢ ➢ catering to wide range • As at 30th June, ticket sizes of homes ranging from ₹0.30 crores to more than
Slide 7: Diversified across brands, price segments and geographies
Diversified across brands, price segments and geographies Plotted Development • Company incorporated on June 3, 1986 , a strong legacy in real estate Our Feats Since 01 Aug 2007 development. 60 23,350 + • Presence in luxury residences, Homes with total commercial, premium affordable Completed reside
Slide 8: Operational Overview: Sales and Collections
Operational Overview Sales and Collections Investor Presentation Q1 FY25 7
Slide 9: Operational Highlights – last 3 Years
Operational Highlights – last 3 Years Sales Value (INR Cr) Customer Collections* (INR Cr) Total Revenue (INR Cr) 3,609 2,260 5,914 2,258 1,382 1,407 3,107 1,440 2,407 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 Volume (msft Saleable Area ) Realization (INR per sft.) Units Sold (Number) 7,916 5,711
Slide 10: Key Business Highlights – Q1 FY25
Key Business Highlights – Q1 FY25 ~INR 1,128 Cr 1.29 msft ~INR 965 Cr ~INR 8,746 Sales Value* Sales volume** Customer Collections* Average Realization ₹ per sft Q1FY24 sales of INR 1,126 Cr Sustained momentum; 95% of 39% YoY increase indicating 6% YOY increase Q1FY24 sales as launches rolled-over im
Slide 11: Key Business Highlights – FY24
Key Business Highlights – FY24 ~INR 5,914 Cr 7.36 msft ~INR 3,609 Cr ~INR 7,916 Sales Value* Sales volume** Customer Collections* Average Realization ₹ per sft Increase in sales by Increase in sales volume by 60% YoY increase indicating Increase by 2% YoY 90% YoY 84% YoY improving operating efficien
Slide 12: Diversified Offerings Across Market Segments
Diversified Offerings Across Market Segments Investor Presentation Q1 FY25 11
Slide 13: Sales Summary – Past 3 years
Sales Summary – Past 3 years Based on Bookings Area Sold (Saleable Area) Units Sold Sales Value* Sales Realization FY 24 FY 23 FY 22 FY 24 FY 23 FY 22 FY 24 FY 23 FY 22 FY 24 FY 23 FY 22 msft msft msft Nos. Nos. Nos. Rs.in crs Rs.in crs Rs.in crs Rs.psft Rs.psft Rs.psft Puravankara 2.69 1.72 1.32 1,
Slide 14: Sales Q1FY25 Vs Q1FY24
Sales Q1FY25 Vs Q1FY24 Based on Bookings Quarter Ended Area Sold (Saleable Area) Units Sold Sales Value* Sales Realization Jun-24 Jun-23 % Jun-24 Jun-23 % Jun-24 Jun-23 % Jun-24 Jun-23 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 0.51 0.70 -27% 331 438 -24% 585 715 -18% 11,4
Slide 15: Sales area classification – unit value & regional contribution
Sales area classification – unit value & regional contribution Q1FY25 • Unit Value wise –78% of the Unit Value wise contribution to sales value FY24 Group’s sales are accounted Rs.0 -0.5 cr Rs.0 -0.5 cr 7% by units, for which average > Rs.2 cr 10% > Rs.2 cr 22% 21% sales price per unit is less than
Slide 16: Collections trend
Collections trend Collection (INR in Cr) 1,200.00 1,094.11 965.39 1,000.00 940.84 183.74 878.87 149.74 800.00 130.70 695.66 341.12 476.22 660.94 620.90 107.59 303.24 600.00 133.68 518.32 123.66 445.10 458.23 307.12 102.37 400.00 103.15 121.61 232.23 223.08 235.94 327.94 221.13 143.74 569.25 160.77 4
Slide 17: Expanding with a Pan-India Presence
Expanding with a Pan-India Presence Artist’s impression of Purva Atmosphere Investor Presentation Q1 FY25 16
Slide 18: Diversified across markets, brands and stages of development
Diversified across markets, brands and stages of development Completed Developable Area as at 30 June 2024 in million sq. ft. Ongoing Land Assets Total Assets (From 1st August (A) (B) (A)+(B) 2007) South India Bengaluru 32.75 16.73 14.39 31.11 Chennai 6.54 6.07 0.00 6.07 Hyderabad 2.78 0.05 0.00 0.0
Slide 19: Ongoing and new launches
Ongoing and new launches Non-Bengaluru projects now account for 47% of the share of ongoing Brand wise Ongoing and Planned projects; and 85% of Planned projects. Mumbai & Pune together constitutes 47% of the Planned projects indicating our new journey in West India. 8% 1% 15% Planned projects 7% 26%
Slide 20: Planned projects
Planned projects Open at the time Developable Area Saleable Area Expected launch Sr. no Location/ Project Name City Development Model Group’s Share in JD of launch (msft)1 (msft) date 2 (msft) Puravankara 1 Bellandur Bengaluru Owned 0.47 100% 0.47 0.47 Q3FY25 2 Amaiti 2 Coimbatore Owned 1.07 100% 1.
Slide 21: Execution capabilities
Execution capabilities Artist’s impression of Purva Somerset House Investor Presentation Q1 FY25 20
Slide 22: Brand value proposition
Brand value proposition Construction management Purva Construction Engineering Manual along with handbook which highlights the standardised Customer and Technical specification protocol for all our residential projects. Quality management Each unit is inspected with 2700 Checkpoints to ensure the ad
Slide 23: Purva Streaks – professional interior design offerings
Purva Streaks – professional interior design offerings A division focused on curating interiors in Bengaluru with captive production unit - Purva Woodworks • Homes furnished before possession • In-house design, production and installation • Forward integration offering that enhances our end-to-end e
Slide 24: Update on possession and occupancy certificate
Update on possession and occupancy certificate We have given total possession for 929 units in Q1FY 25 across the Puravankara Group. We have given 929 (Total 5,461 units between FY22 to FY24). units in Q1 FY 25, up by 108% YOY Projects Q1 FY 25 Q1 FY 24 FY 24 FY 23 FY 22 Total possession in units 92
Slide 25: Efficient capital management
Efficient capital management Investor Presentation Q1 FY25 24
Slide 26: Focused churn of capital investments in land
Focused churn of capital investments in land Turnaround time from land acquisition to project launch Expediting the time to launch in our new business development Acquisition Project Name Brand Status Location Ownership type Quarter Launch Quarter Time to Launch (Approx) Completed in Q4 Tivoli Hills
Slide 27: Debt Movement
Debt Movement Debt/ sft of under construction area June 24 March 24 March 23 March 22 • We have consistently Net Debt (in Rs Cr) 2237 2151 2208 1846 focused on reducing the debt per square Ongoing Projects (msft)* 25 25 20 15 foot of our under- Debt/ sqft (Rs/ sqft) 912 874 1106 1248 construction ar
Slide 28: Debt composition
Debt composition Repayment Schedule as at 30 June 2024 (INR Cr) Debt Composition • The strong liquidity profile As at 31 March 2024 As at 30 June 2024 Increase/(decrease) ensuring stability and operational More than 3 continuity. years Residential 2,364 2,291 73 • During the quarter, we Next repayme
Slide 29: Demonstrated history of institutional partnerships
Demonstrated history of institutional partnerships HDFC Capital: INR 1150 crores • On 23rd April 2024, Provident Housing Limited secures INR 1,150 Crores investment from HDFC Capital in the form of Non-convertible debentures (NCD) • This strategic collaboration is expected to add an additional 6.2 m
Slide 30: Update on Financials
Update on Financials Investor Presentation Q1 FY25 29
Slide 31: Consolidated statement of profit & loss for the last three years
Consolidated statement of profit & loss for the last three years All numbers in INR Cr Particulars FY24 FY23 FY22 Income Revenue from operations 2,185.26 1,235.77 954.70 Other Income 74.84 171.22 426.95 • Our Total Income for FY24 Total income 2,260.10 1,406.99 1,381.65 increased by 61% y-o-y Expens
Slide 32: Consolidated statement of profit & loss for the quarter ended June 30, 2024
Consolidated statement of profit & loss for the quarter ended June 30, 2024 All numbers in INR Cr Particulars Q1FY25 Q1FY24 Income Revenue from operations 658.33 323.26 Other income 17.22 12.55 Total income 675.55 335.81 Expenses • Total income for Q1 FY25 up Sub-contractor cost 247.95 210.09 by 101
Slide 33: Update on Cash flows
Update on Cash flows Investor Presentation Q1 FY25 32
Slide 34: Cashflows statement
Cashflows statement FY 24 FY 23 FY 22 Net cash flows from operating activities ( A ) 896.39 145.19 133.65 Net cash flows from investing activities ( B ) 12.92 94.79 525.45 Net (decrease)/increase in cash flows from financing activities ( C ) (312.6) (140.89) (528.57) Our net cashflows Net increase i
Slide 35: Growing sustainably with good governance practices
Growing sustainably with good governance practices Investor Presentation Q1 FY25 34
Slide 36: Sustainability
Sustainability ❖ Puravankara published it’s second consolidated ESG report for FY’22 and FY’23 along with Business Responsibility Sustainability Reporting (BRSR) ❖ Received IGBC Gold pre-certification for Purva Zentech & Purva Meraki ❖ Purva complies to ASHRAE standards for all Commercial projects ❖
Slide 37: Governance Structure to drive long term growth
Governance Structure to drive long term growth Executive Team Ravi Puravankara Ashish Puravankara Nani R. Choksey Abhishek Kapoor Chairman Managing Director Vice Chairman Executive Director & CEO Investor Presentation Q1 FY25 36
Slide 38: Governance Structure to drive long term growth Contd.
Governance Structure to drive long term growth Contd. Non-Executive Directors Anup Shah Sanmukh Shailaja Jha K G Krishnamurthy Non- Executive Independent Non- Executive Independent Non- Executive Independent Director Director Director Investor Presentation Q1 FY25 37
Slide 39: Awards and accolades
Awards and accolades CIDC Vishwakarma Award 2024 CREDAI CARE 2023 Construction Week Awards 2023 ET EDGE AWARDS Creating social development and impact Lifetime achievement award for Lifetime achievement award for Iconic Brands of India 2023 through CSR efforts Chairman Ravi Puravankara Chairman Ravi
Slide 40: Our Strategies
Our Strategies Provident Somerset House Investor Presentation Q1 FY25 39
Slide 41: Levers for business growth
Levers for business growth Target commercial developments in key metro cities under ✓ Continue to diversify presence across key markets ✓ Purva brand Co m ✓ Primary focus on Bengaluru, Chennai, nc e m ✓ Pivot to a hold and lease model er Hyderabad, Mumbai, Pune and NCR se Growth Aven cia re st lF u
Slide 42: Our Journey begins in Redevelopment segment in Mumbai
Our Journey begins in Redevelopment segment in Mumbai • Saleable Area - 0.6 msft • Saleable Area – 0.21 msft • Location – Apnaghar, Lokhandwala, Andheri West • Location – Deccan, Pali Hills, Mumbai • Development agreement (DA) signed for unit 4 & 5. • Appointed as the preferred developer. • Unit 3 a
Slide 43: MMR has a leading market share across top-cities
MMR has a leading market share across top-cities MMR has the highest market share in supply and absorption of units Robust Demand for Redevelopment Market • Limited availability of open / un-developed land 28% share of Pan India Demand 27% share of Pan India Supply • Presence of significantly old re
Slide 44: Our projects are priced at a premium to their respective markets
Our projects are priced at a premium to their respective markets Average Selling Prices in the region(1) Puravankara Projects (Base selling price Q1FY25) % Premium 30000 12% 25000 24200 21600 20000 15000 59% 68% 11800 14% 8% 10900 7% 10000 8350 6500 7,000 7400 7200 7700 6500 7300 5000 0 Purva Winder
Slide 45: Project Status
Project Status Provident Sunworth Investor Presentation Q1 FY25 44
Slide 46: Project Status – Completed Projects with inventory as on June 30, 2024
Project Status – Completed Projects with inventory as on June 30, 2024 Area Sold JD / JV Developable Puravankara's Share - S.No. Project Location Total Flats Share for Inventory Area Developable Area Launched Cumulative Developer Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % COMPLETED Puravan
Slide 47: Project Status – Under Construction as on June 30, 2024
Project Status – Under Construction as on June 30, 2024 JD / JV Share Area Sold Developable Puravankara's Share - S.No. Project Location Total Flats for Launched Cumulative Inventory Area Developable Area Developer Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION Puravankara 1
Slide 48: Project Status – Not yet open for Sale as on June 30, 2024
Project Status – Not yet open for Sale as on June 30, 2024 JD / JV Share Developable Puravankara's Share - S.No. Project Location Total Flats for Sold Cumulative Unsold Inventory Area Developable Area Developer Area Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % PHASES NOT OPEN FOR SA
Slide 49: Ongoing (open for sale) residential projects- city wise
Ongoing (open for sale) residential projects- city wise Inventory (sft in City Total Projects Developable Area Puravankara’s share Sold Area million) Mumbai 2 1.10 0.67 0.45 0.22 Bengaluru 16 10.24 8.85 6.24 2.61 Chennai 3 5.48 4.90 1.22 3.68 Kochi 2 1.97 1.25 1.06 0.20 Pune 4 1.19 1.05 0.47 0.58 Go
Slide 50: Appendix 1: Other Corporate Information
Appendix 1: Other Corporate Information Investor Presentation Q1 FY25 49
Slide 51: Appendix 1: Recently completed projects
Appendix 1: Recently completed projects PURVA SOMERSET PURVA SILVERSANDS Bengaluru Pune Investor Presentation Q1 FY25 50
Slide 52: Appendix 1: Recently completed projects
Appendix 1: Recently completed projects PROVIDENT NEORA EQUINOX Bengaluru Bengaluru Investor Presentation Q1 FY25 51
Slide 53: Appendix 2: Ongoing projects
Appendix 2: Ongoing projects PURVA ATMOSPHERE PURVA PARKHILL Bengaluru Bengaluru Investor Presentation Q1 FY25 52
Slide 54: Appendix 2: Ongoing projects
Appendix 2: Ongoing projects PROVIDENT ADORA DE GOA PROVIDENT WINWORTH Goa Kochi Investor Presentation Q1 FY25 53
Slide 55: Appendix 3: Ongoing commercial projects
Appendix 3 : Ongoing commercial projects PURVA AEROCITY PURVA ZENTECH Bengaluru Bengaluru Investor Presentation Q1 FY25 54
Slide 56: Disclaimer
Disclaimer This presentation has been prepared by Puravankara Limited (“Company”) solely for providing information about the Company and its subsidiaries and joint ventures. The forward-looking statements appear in a number of places throughout this presentation and include statements regarding the
Slide 57: Thank You
THANK YOU Puravankara Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Corporate Identification Number : L45200KA1986PLC051571 Website:- https://www.puravankara.com/ Investor Relations Contact: Mr. Neeraj Gautam, President- Finance Email – neeraj.gautam@puravankara.com; Tel: