Ganesh Housing Limited · NSE:GANESHHOU
Ganesh Housing — Q2 FY24 Earnings Presentation
35 slides from Ganesh Housing's earnings presentation, Oct 19, 2023
Slide 1: Cover letter to stock exchanges
ISO 9001 :2015 I ISO 14001:2015 ISO 45001 :2018 REF .NO./GHCL/AHMD/2023-2024/363B DATE: OCTOBER 19, 2023 To To BSE Limited National Stock Exchange of India Ltd. Corporate Relation Department Exchange Plaza, Phiroze Jeejeebhoy Towers Plot No. C/1, G Block Dalal Street, Bandra-Kurla Complex Mumbai - 4
Slide 2: Ganesh Housing Q2FY24 Earnings Presentation
GANESH HOUSING Q2FY24 EARNINGS PRESENTATION
Slide 3: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Ganesh Housing Corporation Limited (the “Company”) and no part of it shall form the basis of or be relied upon in conn
Slide 4: PE paren MM
: | Te | PE paren MM ——_ — =—
Slide 5: Creating Landmarks - Lalita Govind Udyan, Exquisite Sanctuary Spread Across 8 Acres
Creating Landmarks - Lalita Govind Udyan, Exquisite Sanctuary Spread Across 8 Acres o Inaugurated by Shri Amit Shah, Hon'ble Union Home Minister and Shri Bhupendra Patel, Hon'ble Chief Minister of Gujarat on 30th Sep’23. o The facility is located behind Nirma University, just besides GHCL’s resident
Slide 6: Lalita Govind Udyan: Key Features
Lalita Govind Udyan: Key Features Garden Oasis: Encompassing 32,385 square meters Tranquil Lake: Serene lake brimming with 5 crore litres of crystal- clear water, a calming focal point to reconnect with nature. Miyawaki Plantation: 40,000 trees grown through the Miyawaki Plantation technique, enhanc
Slide 7: Q2 and H1FY24 Key Business Highlights
Q2 and H1FY24 Key Business Highlights Q2FY24 Revenue came in at INR Q2FY24 EBITDA growth of Q2FY24 PAT grew 346% YoY to 1,641 Mn vs INR 3,278 Mn in ~ 55% YoY at INR 1,221 Mn; l2 Q2FY23; H1FY24 Revenue growth of 18% YoY Ito O o!I H1FY24 EBITDA growth of 226% YoY INR 860 Mn; H1FY24 PAT growth of 663%
Slide 8: Q2 and H1FY24 Strong Financial Performance
Q2 and H1FY24 Strong Financial Performance Particulars (INR Mn) Q2FY24 Q1FY24* Q2FY23 QoQ (%) YoY (%) H1FY24 H1FY23 YoY (%) Revenue 1,641 2,715 3,278 (39.6%) (49.9%) 4,355 3,704 17.6% EBITDA 1,221 2,170 788 (43.7%) 54.9% 3,391 1,039 226.4% EBITDA Margin (%) 74.4% 79.9% 24.0% (5.5%) 50.4% 77.9% 28.0%
Slide 9: Capital Structure Significantly Strengthened
Capital Structure Significantly Strengthened Significant debt reduction happened since FY19 when the company was facing challenges and real estate sector was also in turmoil; As on March 2023, the company has zero debt, and expects substantial cashflows from upcoming projects to ascertain comfortabl
Slide 10: Ahmedabad: A Key Real Estate Hub in Gujarat
Ahmedabad: A Key Real Estate Hub in Gujarat Launches and Sales Trends • Key Market of Gujarat m Highly Affordable 20,500 15,500 - Launches (units) - Sales (units) - INR per sq m 3,100 3,000 Ahmedabad attracts around 40% of total real estate investment in In 2023, Ahmedabad emerged as the most afford
Slide 11: What We Have Achieved And What's Next
What We Have Achieved And What’s Next Particulars Completed Projects Ongoing Projects Planned Projects No. of projects 21 2 3 Residential - 1 Residential – (8 phases) Residential - 17 Type of projects Commercial - 1 (Million Minds Commercial – (6 phases) Commercial – 4 Phase 1) Township – (5 phases)
Slide 12: Upcoming Commercial Projects: Robust Annuity Income
Upcoming Commercial Projects: Robust Annuity Income Construction Estimated Lease Estimated Project Expected Project Project Location Area (Mn. Sq. Ft.) (INR Cr/Annum) Cost (INR Cr) Timelines Million Minds (IT SEZ) Phase 1 1.3 72 285 H1FY24 - H2FY26 (Ongoing) Phase 2 1.3 72 285 H1FY25 - H2FY27 Phase
Slide 13: Upcoming Residential Projects: Strong Cashflow Visibility
Upcoming Residential Projects: Strong Cashflow Visibility Saleable Area Estimated Revenue Estimated Project Expected Project Project Location (Mn. Sq. Ft.) (INR Cr) Cost (INR Cr) Timelines Millions Minds (IT SEZ) Phase 1 0.6 380 140 H2FY24 – H2FY27 Phase 2 0.6 380 140 H2FY25 – H2FY28 Phase 3 0.8 460
Slide 14: Million Minds (IT SEZ): Landmark Project in High Growing Market
Million Minds (IT SEZ): Landmark Project in High Growing Market Prime Location Favorable IT & ITeS policy ❑ State of the art, world-class infrastructure ❑ Gujarat aspires to be among the top 5 states in facilities on 64 acres of land located at a key India as far as the IT & ITeS industry is concern
Slide 15: Strategic Partnership with Tishman Speyer for Million Minds
Strategic Partnership with Tishman Speyer for Million Minds Strategic alliance for development of GHCL’s Million Minds - 1st Phase of commercial development of 1.3 Mn Sq Ft Synergistic Partnership o Collaboration for SEZ development o Lease Management o Product Innovation Superior Capabilities Inter
Slide 16: Ongoing Project Update – Million Minds (IT SEZ) Phase 1
Ongoing Project Update – Million Minds (IT SEZ) Phase 1 Million Mind Phase 1 –project update of ongoing construction work Status Expected Completion Construction Work in Progress March - 2026 --- --- ■--■ ■--■ Construction Area Leasable Area 1.3 Mn. Sq. Ft. 0.85 Mn. Sq. Ft. Estimated Cost Estimated
Slide 17: Ongoing Project Update – Million Minds Phase 1 (Site Update)
Ongoing Project Update – Million Minds Phase 1 (Site Update) GANESH~ !.9.Y.!!!§ ~
Slide 18: Ongoing Project Update - Malabar Exotica
Ongoing Project Update - Malabar Exotica 91% 100% Completed Booked Feb’24 Use of Precast Expected Delivery Construction Technology GANESH~ HOUSING 1111 CORPORATION LIMITED "
Slide 19: Finished Project Update - Malabar County 3
Finished Project Update - Malabar County 3 100% 100% Completed Booked Delivered Use of Precast Well Ahead of Time Construction Technology GANESH~ !.9.Y.!!!§ ~
Slide 20: Malabar County 3: Project Delivered Within 2.5 Years
Malabar County 3: Project Delivered Within 2.5 Years Malabar County 3: Milestones achieved over the course of project construction and execution Oct’20 Feb’21 Feb’22 Sep’22 Feb’23 Land of 2 acres Project launched Significant progress Structure work Project completion identified and construction on c
Slide 21: Corporate Presentation
C O R P O R A T E P R E S E N T A T I O N
Slide 22: Snapshot: A Leading Real Estate Developer in Gujarat
Snapshot : A Leading Real Estate Developer in Gujarat - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - ) ···········:······:·····-... - (,~~;) Premium Ahmedabad focused developer with strong & differentiated brand that allows leadership position ... - - - - - - - - - - - - - - - - - - -
Slide 23: Vision and Mission
Vision and Mission Content Here I VISION Easy to change colors, 52% MISSION photos and Text. “To be the most trusted, transparent, and “To continuously innovate and use the admired real estate developer” latest technology to provide high-quality spaces to our customers” “To set up and build standard
Slide 24: Our Journey So Far
Our Journey So Far Early Phase & IPO Fund Raising Robust Execution Scaling Up… (1991-2004) ) (2004-2009) ) (2009-2014) ) (2014-2020) • Bonus issue 2:1 (2006) • Delivered 17 msf. • Highest ever cash flow of INR 2,800 Mn; crossed • NSE listing in 2007. • Turnover of more than INR turnover of INR 3,000
Slide 25: Well Established Brand; Strong Transparency
Well Established Brand; Strong Transparency ✓ Ganesh Housing Corporation Limited (‘GHCL’) is the flagship company of Ganesh Group; listed since 1993 ✓ Leading residential developer across mid and higher income segment; Enviable track record of identifying several high potential locations and convert
Slide 26: Proven Execution Track Record
Proven Execution Track Record Maple Tree: Speed of execution to enhance shareholder value Feb’15 Apr’15 Apr’16 Apr’17 Jan’19 Land of ~ 10 acres Project launched Significant progress Construction work Completion identified and construction made in less than completed in two start one year towers .I I
Slide 27: Significant Land Reserves for Future Growth
Significant Land Reserves for Future Growth ✓ ~500 acres of land reserves in d strategic locations across Ahmedabad ✓ 36-40 msf of development potential ✓ Ability to take advantage of ,, • favourable market conditions by launching projects quickly without having to acquire land ✓ Rationalize land re
Slide 28: What Sets Us Apart
What Sets Us Apart Future Ready Transparent and Trustworthy Strategic Project Locations Top Quality Infrastructure Professionally Managed and Amenities Strong Brand Equity Focused on Deleveraging & Superior Reputation Innovative Planning Use of Technology – I-homes, Home Timely Delivery GANESH~ Auto
Slide 29: Strong Leadership Team
Strong Leadership Team Dipak Kumar Patel - Chairman Shekhar Patel - MD Pankaj Teraiya – President Associated with GHCL since 1991; (Projects) 01 leading the land related matters and 02 Veteran with an experience of over 26 years; leading day to day 03 BE Civil with an experience of over 28 govt. lia
Slide 30: Strategic Priorities
Strategic Priorities Being more aggressive towards Building a team for the future, Building both commercial and retail Strengthening focused approach towards segment, widen customer base Position Internal across price points and locations team reorganization and reorientation Organization Retaining
Slide 31: Way Forward: Plan, Prepare and Proceed
Way Forward : Plan, Prepare and Proceed What we will Achieve Sustainable growth and value creation for all the stakeholders Proceed Proceed with a larger, more efficient, and Prepare collective group. The This is what drives recent consolidation our everyday has ensured creation Plan strategy; prepa
Slide 32: Consolidated Income Statement (Historical)
Consolidated Income Statement (Historical) Particulars (INR mn) FY23 FY22 FY21 FY20 FY19 FY18 Revenue 6,208 3,849 1,820 2,773 2,672 5,082 EBITDA 2,563 1,355 (377) (504) 770 2,031 EBITDA (%) 41.3% 35.2% (20.7%) (18.2%) 28.8% 39.9% Depreciation 27 20 17 21 23 26 EBIT 2,535 1,335 (394) (525) 747 2,005
Slide 33: Balance Sheet (Historical)
Balance Sheet (Historical) Particulars (INR mn) FY23 FY22 FY21 FY20 FY19 FY18 Equity Share Capital 834 834 492 492 492 492 Reserves & Surplus 10,262 7,064 4,528 5,750 6,980 8,400 Minority Interest 683 870 871 931 927 927 Shareholder’s Equity 11,779 8,768 5,891 7,173 8,399 9,819 Borrowings 36 1,377 3
Slide 34: Cash Flows and Ratios (Historical)
Cash Flows and Ratios (Historical) Particulars (INR mn) FY23 FY22 FY21 FY20 FY19 FY18 Operating Cash Flow excl. 1,862 1,341 (658) (663) (469) 1,470 WC Working Capital Changes (1,556) (931) 1,980 1,890 1,761 (717) Investment Activities 2,782 394 434 531 841 260 Financing Activities 14 (852) (1,726) (
Slide 35: Thank You
THANK YOU