Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q4 FY2020 Earnings Presentation
50 slides from Godrej Properties's earnings presentation, May 11, 2020
Slide 1: Filing cover letter to BSE and NSE
Godrej Properties Limited Regd. Office: Godrej One, 5th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai – 400 079. India Tel.: + 91-22-6169 8500 Fax: + 91-22-6169 8888 Website: www.godrejproperties.com CIN: L74120MH1985PLC035308 May 11, 2020 BSE Limited Phiroze Jeejeebhoy Towers,
Slide 2: Results Presentation Fourth Quarter, Financial Year 2020
R E S U LT S P R E S E N T A T I O N FOURTH QUARTER, FINANCIAL YEAR 2020 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 3: Disclaimer
DISCLAIMER Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operation
Slide 4: Agenda
AGENDA Overview 01 FY20 Highlights 02 Q4 FY20 Operational Highlights 03 Q4 FY20 Financial Highlights 04 Annexure 05 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY20
Slide 5: Godrej Group
GODREJ GROUP Established in 1897 Value Creation Track Record $5 bn in annual revenue 19 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth 1.1 billion people globally use a Godrej product1 BSE Sensex 12% 9 Godrej ranks amongst the most trusted Indian brands2 Godrej C
Slide 6: Godrej Properties
GODREJ PROPERTIES Established in 1990 Indias largest publicly listed developer by booking value over the past five years Chandigarh 0.7, 1 NCR Successfully delivered over 22 million sq. ft. of real estate in 29.4, 15 the past five years ~187 million sq. ft. of developable area across India
Slide 7: Strengths
STRENGTHS 1 1.1 billion people globally use a Godrej product Godrej Brand Godrej Properties ranked as the most trusted real estate brand in the 2019 Brand Trust Report GPL brings the Godrej brands reputation for trust, quality and corporate governance to the real estate sector Effective Com
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth ~ 7.5x an identical investment into the BSE Realty Index Value Creation Track Record 10 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 5.2% 1.68 Godrej Properties 9.9% 2.62 BSE Realty Index -9.7%
Slide 9: Agenda
AGENDA Overview 01 FY20 Highlights 02 Q4 FY20 Operational Highlights 03 Q4 FY20 Financial Highlights 04 Annexure 05 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY20
Slide 10: FY20 Highlights
FY20 HIGHLIGHTS Highest ever sales in a financial year by GPL Booking value of INR 5,915 crore is likely to be the highest booking value achieved by any publicly listed Sales real estate developer in India in FY20 Highlights Sales above INR 1,000 crore in each of our four focus markets of MMR,
Slide 11: Highest ever sales by GPL in a financial year
HIGHEST EVER SALES BY GPL IN A FINANCIAL YEAR BOOKING VALUE OF INR 5,915 CRORE GPL is India’s largest publicly listed developer by booking value in FY20 and cumulatively over the last 5 years • Sales from new launches stood at INR 2,795 crore • Sales from existing inventory stood at INR 3,120 crore
Slide 12: Capital Raising
CAPITAL RAISING Raised INR 2,100 crore through QIP in June 2019 Allotted 2,26,29,310 equity shares of INR 5 each to Qualified Institutional Buyers for INR 928/share Demonstrates GPLs ability to successfully raise capital in tough macro economic environment for the real estate sector Equity ra
Slide 13: Strong Year for Business Development
STRONG YEAR FOR BUSINESS DEVELOPMENT Added 10 new projects with 19 million sq. ft. of saleable area and high economic interest to GPL in FY20 Projects added in FY20 Particulars Saleable Area (million sq. ft.) Business Model Navi Mumbai, MMR 7.50 Profit Share - 55% Ashok Vihar, NCR 3.28 100% owned pr
Slide 14: Construction Highlights
CONSTRUCTION HIGHLIGHTS Delivered ~5.3 million sq. ft. across 5 cities in FY20 Godrej Infinity, Pune Godrej 24, Pune Godrej Prime, Mumbai 1.30 million sq.ft. 0.95 million sq.ft. 0.75 million sq.ft. Godrej Aria, NCR Godrej Eternity, Bangalore The Trees - Phase 3, Vikhroli 0.67 million sq.ft. 0.40 mil
Slide 15: Global Recognition for Sustainability Initiatives
GLOBAL RECOGNITION FOR SUSTAINABILITY INITIATIVES Ranked 7th in Asia & 17th globally by GRESB (Global Real Estate Sustainability Benchmark) - An industry-driven organization which assesses Environmental, Social and Governance (ESG) performance of real assets globally • GRESB is an industry-driven or
Slide 16: Awards and Recognitions
AWARDS AND RECOGNITIONS GPL received 57 awards in FY20 ILLUSTRATIVE LIST OF AWARDS GODREJ PROPERTIES PROJECT & INDIVIDUAL AWARDS Porter Prize: For Leveraging Unique Activities Godrej One, Mumbai Porter Prize 2019 Most Environment Friendly Project - CNBC - AWAAZ Real Estate Awards Builder of th
Slide 17: Green Initiatives at Godrej Properties
GREEN INITIATIVES AT GODREJ PROPERTIES 16 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY20
Slide 18: CSR Initiatives – Good & Green
CSR INITIATIVES – GOOD & GREEN Crèches for the Provide safe spaces for construction workers children to avail education and necessary age appropriate nutrition children of for Migrant Families Allows workers to work on sites while their children are looked after by trained workers at the crèche
Slide 19: CSR Initiatives – Good & Green (Contd.)
CSR INITIATIVES – GOOD & GREEN (Contd.) GPL has invested in a watershed project in one of the most drought-prone areas of India Beed district in the Marathwada region of Maharashtra. Water The project helps in water conservation through restructuring of the water basin Conservation The proje
Slide 20: COVID-19 Impact on Residential Real Estate Sector and GPL
COVID-19 IMPACT ON RESIDENTIAL REAL ESTATE SECTOR AND GPL Due to the nationwide lockdown, existing construction activity has come to a halt which will extend construction timelines Construction GPL has around 10,000 construction workers at its sites across India and is in good position to resume
Slide 21: Agenda
AGENDA Overview 01 FY20 Highlights 02 Q4 FY20 Operational Highlights 03 Q4 FY20 Financial Highlights 04 Annexure 05 20 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY20
Slide 22: Q4 FY20 Operational Highlights
Q4 FY20 OPERATIONAL HIGHLIGHTS GPLs best ever quarter for sales - booking value stood at INR 2,383 crore 10% YoY growth and 100% QoQ growth in booking value Sales The sales in Q4 included over 500 homes sold in the second half of March as the company Highlights focused on digital sales tools
Slide 23: Sales Highlights
SALES HIGHLIGHTS Particulars Q4 FY20 Q4 FY19 Growth Q3 FY20 Growth FY20 FY19 Growth Area Sold* (sq. ft.) 3,610,789 3,718,690 -3% 1,583,124 128% 8,799,842 8,759,410 0% Booking Value** (INR Cr) 2,383 2,161 10% 1,189 100% 5,915 5,316 11% *Includes : **Includes - (2,770) sq. ft. of JVP area in Q4 FY20 &
Slide 24: Project Booking
PROJECT BOOKING Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Residential Projects Q4 FY20 FY20 Q4 FY20 FY20 Godrej Nurture, Bangalore 587,478 587,478 316 316 Godrej Hillside 2, Mahalunge 430,923 430,923 249 249 Godrej Boulevard, Pune 412,006 412,006 244 244 Godrej Forest Grove, Pune 395
Slide 25: Project Booking (Contd.)
PROJECT BOOKING (Contd.) Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Commercial Projects Q4 FY20 FY20 Q4 FY20 FY20 Godrej BKC, Mumbai 0 13,174 0 46 Godrej Eternia, Chandigarh -495 11,856 -1 9 Godrej Genesis, Kolkata 27,319 38,982 12 17 Total 26,824 64,012 11 72 Grand Total 3,610,789 8,
Slide 26: Business Development
BUSINESS DEVELOPMENT Added 5 new projects with saleable area of ~6.1 million sq. ft. in Q4 FY20 Delhi, NCR Acquired this property in Ashok Vihar from the Railway Land Development Authority (RLDA) The project will be developed as a luxury group housing project with approximately 3.3 million sq. f
Slide 27: Business Development (Contd.)
BUSINESS DEVELOPMENT (Contd.) Added 5 new projects with saleable area of ~6.1 million sq. ft. in Q4 FY20 Matunga, MMR Develop land parcel located in the prime micro-market of Matunga near Five Gardens under society redevelopment scheme The project will offer 0.2 million sq. ft. of saleable area
Slide 28: Launch Tracker FY20
LAUNCH TRACKER FY20 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New project launches in FY20 New Phase Launches Planned in FY20 Project Launch Project Launch City Status Area* City Status Area* Godrej Palm Retreat NCR 0
Slide 29: Launch Tracker FY21
LAUNCH TRACKER FY21 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY21 New Project Launches Planned in FY21 Project City Launch Project City Launch Status Area* Status Area* Vashi Mumbai 0.
Slide 30: Construction Highlights
CONSTRUCTION HIGHLIGHTS Delivered ~1.9 million sq. ft. across 4 cities in Q4 FY20 Godrej 24, Pune The Trees Phase - 3, Vikhroli Godrej Elements, Pune 0.95 million sq.ft. 0.35 million sq.ft. 0.24 million sq.ft. Godrej Eternity, Bangalore Godrej Garden City, Ahmedabad 0.18 million sq.ft. 0.15 million
Slide 31: Awards and Recognitions
AWARDS AND RECOGNITIONS GPL received 6 awards in Q4 FY20 and a total of 57 awards in FY20 PROJECT & INDIVIDUAL AWARDS Godrej Gold County Most Iconic Project of the year - Premium Luxury at Realty Awards 2020 Godrej SE7EN Outstanding Project Launch of the Year at 12th Realty+ Excellence Awards 20
Slide 32: Agenda
AGENDA Overview 01 FY20 Highlights 02 Q4 FY20 Operational Highlights 03 Q4 FY20 Financial Highlights Annexure 05 04 31 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY20
Slide 33: Consolidated Financial Statements – P&L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q4 FY2020 Q4 FY2019 % Change Q3 FY2020 % Change FY2020 FY2019 % Change Total Income 1,261 1,200 5% 491 157% 2,829 3,236 -13% Adjusted EBITDA* 321 337 -5% 177 81% 903 862 5% EBITDA** 253 314 -19% 151 68% 733 597 23% Profit before tax 190
Slide 34: Consolidated Cashflow
CONSOLIDATED CASHFLOW (INR Cr) Notes Particulars Q4 FY20 FY20 Operating cashflow Total operating cash inflow 1,401 4,276 A Operating cash outflow Construction and related outflow (474) (1,902) Other project related outflow (443) (1,582) Total operating cash outflow (917) (3,483) Net operating cashfl
Slide 35: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 31.03.2020 As on 31.03.2019 A Assets Audited Audited 1 Non Current assets a Property, plant & equipment 77.89 71.90 b Capital Work-in-Progress 160.86 98.77 c Right-of-Use Asset 3.76 - d Investment Property 9.79 2.20 e Goodwill
Slide 36: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 31.03.2020 As on 31.03.2019 B Equity and Liabilities Audited Audited 1 Equity a Equity share capital 126.01 114.66 b Other equity 4,678.47 2,354.35 c Non-controlling interest - - Total Equity 4,804.48 2,469.01 2 Liabilities 2.1
Slide 37: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators Particulars Q4 FY2020 Q4 FY2019 Q3 FY2020 FY2020 FY2019 Adjusted EBITDA / Total Income* 25.5% 28.1% 36.0% 31.9% 26.6% EBITDA / Total Income** 20.1% 26.2% 30.7% 25.9% 18.4% PBT Margin % 15.1% 20.5% 17.9% 17.4% 10.8% Net Profit Margin %# 8.0% 13.1% 9.3% 9.4%
Slide 38: Agenda
AGENDA Overview 01 FY20 Highlights 02 Q4 FY20 Operational Highlights 03 Q4 FY20 Financial Highlights 04 Annexure 05 37 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY20
Slide 39: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based - 73.6% 1 Godrej Garden City* Ahmedabad Residential 14.80 Own Phase V: Revenue Based - 67.6% Ongoing Phase VI: onwards - 17% of Reve
Slide 40: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 19 Godrej Palm Grove Chennai Residential 1.93 Own Area Based - 70% (for 12.57 acres), 68% (for 4.82 acres) Ongoing 20 Godrej Azure Chennai Residential 0.70 JV
Slide 41: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 35 Godrej Park Mumbai Residential 0.77 Own Revenue Based – 56.5% Forthcoming 36 Godrej Vihaa Mumbai Res idential 1.30 DM DM Fee – 10% of Revenue Ongoing Profi
Slide 42: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 53 Godrej Nirvaan Mumbai Residential 2.25 JV Profit Share - 50% Ongoing 54 Taloja Mumbai Residenti al 7.50 JV Profit Share - 55% Forthcoming 55 Ambernath Mumb
Slide 43: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 69 Godrej Infinity Pune Residential 2.80 JV Profit Sharing - 35% Ongoing Revenue Based 96% (GPL owns 49% equity in project 70 Godrej 24 Pune Residential 0.57
Slide 44: B. Commercial Projects
B. COMMERCIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based 73.6% 1 Godrej Garden City* Ahmedabad Residential 2.40 Own Phase V : Revenue Based - 67.6% Ongoing Phase VI : onwards - 17% of Revenu
Slide 45: Thank You
THANK YOU For further information, please contact: Rajendra Khetawat Godrej Properties Limited Tel: +91 22 6169 8500 Fax: +91 22 6169 8888 Email: rajendra@godrejproperties.com 38 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 46: Press Release: Consolidated Financials for Q4 FY20 Results
GODREJ PROPERTIES LIMITED CIN : L74120MH1985PLC035308 Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express Highway, Mumbai – 400079 PRESS RELEASE Consolidated Financials for Q4 FY20 Results Highest ever sales in a financial year by GPL Booking valu
Slide 47: Press Release: Business Development
FY20 witnessed a total booking value of INR 5,915 crore and total booking volume of 8.80 million sq. ft. as compared to total booking value of INR 5,316 crore and total booking volume of 8.76 million sq. ft. in FY19. Business Development Added 5 new projects with saleable area of ~6.1 million sq.
Slide 48: Press Release: Matunga and Other Highlights
Matunga, MMR • The land parcel is located in the prime micro-market of Matunga near Five Gardens and the project will offer 0.2 million sq. ft. of saleable area comprising primarily of residential apartments of various configurations • GPL’s economic interest is 89% of revenue Project Update under C
Slide 49: FY2020 performance overview compared with FY2019
FY2020 performance overview compared with FY2019 Total Income stood at INR 2,829 crore as compared to INR 3,236 crore EBITDA stood at INR 733 crore as compared to INR 597 crore Net Profit stood at INR 267 crore as compared to INR 253 crore EPS# amounted to INR 10.84 as compared to INR 11.15
Slide 50: About Godrej Properties Limited
About Godrej Properties Limited: Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 123–year legacy of excellence and trust with a commitment to cutting edge design, technology,