Man Infraconstruction Limited · NSE:MANINFRA
Man Infraconstruction — Q1 FY24 Earnings Presentation
62 slides from Man Infraconstruction's earnings presentation, Jul 25, 2023
Slide 1: Exchange filing cover letter - Investor Presentation Q1 FY24
GD ft' m EPC RE AL EST ATE MAN INFRACONSTRUCTION LIMITED 25th July, 2023 • The Listing Department National Stock Exchange of India Limited The Corporate Relationship Department BSE Limited Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E), Mumbai - 400 051, India Dalal Stre
Slide 2: Investor Presentation – Q1 FY24
MAN INFRACONSTRUCTION LIMITED INVESTOR PRESENTATION – Q1 FY24 July 2023
Slide 3: Safe Harbor
Safe Harbor • This presentation has been prepared by and is the sole responsibility of Man Infraconstruction Limited (the “Company” / “MICL”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. • This presentation does not constitute or form part of any offer
Slide 4: Index
Index Group Overview 04 MICL Business Model 13 Performance Update 19 Company Financials 25 Our Business 30 Way Forward 40 Annexure 43 3
Slide 5: MICL Group Overview
MICL Group Overview MICL INTRODUCTION BUILT WITH ETHICS, BUILT WITH ETHICS, LED WITH PASSION, LED WITH PASSION, FOCUSSED ON VALUE CREATION FOCUSSED ON VALUE CREATION
Slide 6: EPC Real Estate
We are an integrated EPC company o Established formidable position in real estate development o 3rd generation now in business with a focussed leadership o Backed by superior financial track record EPC Real Estate • Pioneered in constructing India’s 7 major ports at • Asset light business model key
Slide 7: Establishing Landmarks
Establishing Landmarks 50+ Years of experience in construction across the Country 50+ Mn Sq. Ft. of real estate and infra. construction delivered 25 mn + Sq. Ft. of 25 mn + Sq. Ft. residential & commercial of ports, infra. & industrial development development 10+ Years of experience in Real Estate D
Slide 8: Built with Ethics
Built with Ethics The journey of MICL Group dates back to 1964 as a partnership firm Started by Mr. Kishore Shah, a civil engineer by profession and the 1st generation entrepreneur of the Group Predominantly engaged in industrial and civil contracting works Undertook & completed multiple projects du
Slide 9: Led with Passion
Led with Passion “ I SEE A CLEANER, GREENER FUTURE ON THE HORIZON WHERE EVERYONE CAN LIVE HAPPIER, LIVE BETTER. ” 30+ years of solid experience in the construction industry and continues to be a mentor in strategic decisions of the Company Known for Quality, Timely execution & Team work, has led rep
Slide 10: Focused on Value Creation
Focused on “ TODAY WE LIVE OUR BEST LIFE, AND TOMORROW, Value Creation WE LIVE BETTER. ” Joined business in 2013 with a vision to diversify & grow in the real estate space Successful Diversification - Real Estate vertical constitute ~50% of revenue in FY23 Strengthened real estate portfolio with 4.6
Slide 11: Global Aspirations
Global Aspirations Third Generation of the founding family, Mr. Vatsal Shah preserves the guiding principles that have brought MICL it’s continued success Graduated in Business administration from Northeastern University in 2019 Earned a M.S. in Business Analytics from University of Miami in 2021 Ga
Slide 12: Focused on Profitability
Focused on Profitability A qualified Chartered Accountant, he has over 35 years of experience both in India and abroad Specialized in finance, accounts, systems and commercial aspects of the business He oversees all finance, accounting, taxation and auditing work of the Company Responsible for manag
Slide 13: Well-Structured Board
Well-Structured Board MR. BERJIS DESAI MR. KAMLESH VIKAMSEY MR. DHARMESH SHAH MS. KAVITA UPADHYAY Chairman and Independent Director Independent Director Independent Director Non-Executive Director A Master of Law from the Former President of the Member of the Institution of A Chartered Accountant, U
Slide 14: MICL Business Model
MICL Business Model MAN INFRACONSTRUCTION LIMITED
Slide 15: Two Segments but Multiple streams of Income
Two Segments but Multiple streams of Income Real Estate Projects EPC Projects DM Fee* or EPC Interest EPC PMC Equity Margin Margin or Margin Margin Margin Handling and In-house Includes Infra projects Professional Funds infused marketing the Engineering & from Government and managing of site, into o
Slide 16: Diversified Business Verticals
Diversified Business Verticals 4.6 Mn. Sq. ft. Projects – Real Estate Portfolio ~ Rs. 1,265 Cr Order Book – EPC Portfolio ~2.0 Mn. Sq. ft. 1.3 ~110 hectares 16% 1.5 Delivered Residential of Ongoing projects of ongoing ports & Ongoing infra projects Infrastructure Upcoming 1.3 Balance Potential ~4.2
Slide 17: Business Model: Efficient and Scalable
Business Model: Efficient and Scalable Maintaining Balance Sheet Strength Leverage Expertise & Knowledge • Maintain low leverage • Strong in-house EPC capabilities • Maximize cash flows • Enabling timely execution of • Bottom-line focused real estate projects Net Cash positive as on Jun-23 Consolida
Slide 18: Strong Financial and Operational Track Record
Strong Financial and Operational Track Record Revenue (INR Crs) EBITDA (INR Crs) PAT (INR Crs) 50% CAGR 1,890 43% CAGR 414 58% CAGR 259 216 972 248 961 427 640 100 97 371 42 267 918 32 164 293 178 321 -3 -7 207 89 134 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 EPC Rea
Slide 19: Maintaining Balance Sheet strength
Maintaining Balance Sheet strength Net Cash positive Balance Sheet Significant Secured Debt Reduction 0.4 0.3 0.1 -0.1 -0.3 513 536 360 318 299 308 240 207 156 223 44 -102 136 -332 91 Net Debt Cash & cash Eq. Net Debt/Equity ratio (x) FY20 FY21 FY22 FY23 Jun-23 Q1FY23 Q2FY23 Q3FY23 Q4FY23 As on Jun-
Slide 20: Performance Update
Performance Update
Slide 21: Q1FY24 Performance - Company Highlights
Q1FY24 Performance - Company Highlights Revenue from operations saw strong growth of 45% YoY to Rs. 510 cr Total Income also grew by 45% to Rs. 524 cr. EBITDA grew by 63% YoY to Rs. 109 cr KEY Net profit jumped by 112% YoY to Rs. 82 cr. HIGHLIGHTS Secured Debt stands at Rs. 136 cr. as on June-23 Net
Slide 22: Q1FY24 Performance - Financial Highlights
Q1FY24 Performance - Financial Highlights Q1FY24 Q1FY23 YoY Growth Revenue 510 352 45% Real Estate 134 226 EPC 376 126 EBITDA 109 67 63% EBITDA Margin 21.4% 19.0% PAT 82 39 112% PAT Margin 15.7% 10.8% 21
Slide 23: Q1FY24 Highlights – Business Highlights
Q1FY24 Highlights – Business Highlights Business Development 1. Acquired development rights for one of the largest cluster redevelopment in Ghatkopar having saleable carpet area of approx. 4 lakh sq. ft. with a revenue potential of Rs. 1,200 Cr over next 4 years 2. Bagged another significant size EP
Slide 24: MICL to build India's iconic residential tower in Mumbai
MICL to build India’s iconic residential tower in Mumbai • Building Ultra-Luxury project with saleable carpet area of 6.5 lakh sq. ft. • Revenue potential of around Rs. 3,000 cr. 23
Slide 25: MICL to build gated community in Ghatkopar East
MICL to build 10,000+ sq. mtr. gated community in Ghatkopar East • Building Ultra-Luxury project with saleable carpet area of ~4.0 lakh sq. ft. • Acquired development rights from 10 societies in Ghatkopar east • Revenue potential of Rs. 1,200 Cr over the next 4 years 24
Slide 26: Company Financials
Company Financials
Slide 27: Q1 FY24 Consolidated Financial Highlights
Q1 FY24 Consolidated Financial Highlights Particulars (Rs. Crs.) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q FY23 Revenue from Operations 509.7 352.0 45% 680.3 -25% 1,890.3 Total Expense 400.6 285.2 555.9 1,476.4 EBITDA 109.1 66.7 63% 124.4 -12% 413.9 EBITDA Margin (%) 21.4% 19.0% 18.3% 21.9% Other Income 1
Slide 28: Historical Financial Highlights - Consolidated
Historical Financial Highlights - Consolidated Profit & Loss Statement (Rs. Crs.) Jun-23 Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Revenue from Operations 509.7 1,890.3 961.5 427.2 267.0 371.4 Total Expense 400.6 1,476.4 714.0 330.6 269.7 271.6 EBITDA 109.1 413.9 247.5 96.6 -2.7 99.8 EBITDA % 21.4% 21.9% 2
Slide 29: Q1FY24 Standalone Financial Highlights
Q1FY24 Standalone Financial Highlights Particulars (Rs. Crs.) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q FY23 Revenue from Operations 362.6 97.5 272% 356.1 2% 797.8 Total Expense 283.1 62.4 328.3 660.9 EBITDA 79.5 35.2 126% 27.9 185% 136.9 EBITDA Margin (%) 21.9% 36.0% 7.8% 17.2% Other Income 7.8 11.8 14.3
Slide 30: Historical Financial Highlights - Standalone
Historical Financial Highlights - Standalone Profit & Loss Statement (Rs. Crs.) Jun-23 Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Revenue from Operations 362.6 797.8 236.6 119.6 107.0 166.5 Total Expense 283.1 660.9 175.5 115.9 108.8 125.7 EBITDA 79.5 136.9 61.1 3.7 -1.8 40.8 EBITDA % 21.9% 17.2% 25.8% 3.1%
Slide 31: Real Estate Business
Real Estate Business
Slide 32: Superior Competitive Strength
Superior Competitive Strength 13 projects (residential + commercial) delivered ~Rs. 700^ cr. invested ~4.6* million sq. ft. (Carpet area) of - Proven track record of quality & execution by the company in own Real Estate real estate portfolio - All projects delivered before the scheduled date Develop
Slide 33: Strengthening Real Estate Presence
Strengthening Real Estate Presence Upcoming in Mid- Completed Projects On-going Residential Projects Mira Road premium projects in Mira Road (Near Dahisar) • Aaradhya Tower • Aaradhya Parkwood Upcoming in luxury (Near Dahisar) • Aaradhya Saphalya • Aaradhya Evoq project in Vile Parle • Aaradhya Nala
Slide 34: Building Our International Presence
Building Our International Presence Edition Residences URBIN Miami Beach Location: Fort Lauderdale, Florida, USA Location: Washington Avenue, Miami Beach, Florida Type: Residential Type: Commercial, lease model Size: 65 Luxury residence units with Features: co-live, co-work, and an saleable area of
Slide 35: Ongoing Real Estate Projects
Ongoing Real Estate Projects Name of RERA Carpet Area sold as Est. MICL's Type Launch Units Sold as Sr. No. Project Name developing Location area on 30.6.2023 Completion Total Units Stake Date on 30.6.2023 entity (sq ft.) (sq ft.) Date$ Aaradhya Man Near Dahisar, 1 High Park – 99.99% 2 Residential t
Slide 36: Upcoming Real Estate Projects
Upcoming Real Estate Projects Name of Type Carpet area Expected Sr. No. Project Name developing MICL's Stake Location Total Units (sq ft.) Launch Date* entity Aaradhya Man Vastucon 2 Residential Near Dahisar, 1 Parkwood 99.99% 2,30,136 Sep-23 455 LLP Towers Thane - Phase 2 Aaradhya Man Vastucon 99.9
Slide 37: Completed Real Estate Projects
Completed Real Estate Projects Total Carpet Area Carpet Area Sold Completed time before Sr. No. Project Type Total Units No. of Units Sold (sq.ft.) (sq.ft.) scheduled Date 1 Aaradhya Tower Residential 48 48 46,994 46,994 1 month 2 Aaradhya Saphalya Residential 5 5 4,244 4,244 10 months 3 Aaradhya Na
Slide 38: EPC Business
EPC Business
Slide 39: Marquee Clientele with excellent client relationships
Marquee Clientele with excellent client relationships 38
Slide 40: Ongoing EPC Projects
Ongoing EPC Projects 01 02 03 Infrastructure Residential Commercial ~1.29 Mn. sq. ft. of Construction Work ~2.55 Mn. sq. ft. of Construction Work ~0.31 Mn. sq. ft. of Construction Work • Govt. Residential: PCMC - Charholi & Ravet • Atmosphere Phase II* • Gateway • Aaradhya High Park - Phase 1^ ~110
Slide 41: Way Forward
Way Forward
Slide 42: Strategic Priorities
Strategic Priorities Strengthening our position in existing segments Focus on execution and Cash Flow generation Maintain a strong Balance Sheet Create superior shareholder value 41
Slide 43: Way Forward
Way Forward Expansion Strategy Global (USA) Expansion • Real Estate - Focus to grow in MMR region through Asset Light • Expand footprint in demand-generating market - model – JV / JDA / DM Miami, Florida, USA - Well-diversified portfolio across customers, category and micro market • Strategic tie-up
Slide 44: Annexure
way Annexure _
Slide 45: Indian Real Estate to become $1 trillion market
Indian Real Estate to become Housing to contribute ~7% of GDP Favourable Long-Term Factors $1 trillion market 12% 10% 1,000 Home loan rate still lower than 8% peak levels 650 6% Significant improvement in 4% affordability 180 2% 50 0% Unsold Inventory at it’s lowest 2008 2020e 2025e 2030e FY12 FY20
Slide 46: Large scale development initiatives by Government
Large scale development initiatives by Government Strong Macro-Drivers Sagarmala Project • Infrastructure led economic growth - Port Development and modernization program - Significant Investment outlay of Rs. 5.5 trillion by 2035 • Strong emphasis laid on ‘Make in India initiative’ • All time high
Slide 47: Awards and achievements
INDIA INDUSTRY ACHIEVEMENT Times ‘40 under CIVIL 40’ leaders CONSTRUCTION 2022 Emerging Builder HURUN INDIA AWARD Young achiever of the year ETHICAL EXCELLENCE INDIA’S MAHARASHTRA‘S BRAND IN TOP PILLAR OF OF THE YEAR DELIVERY CHALLENGERS STRENGTH 2022 2022 2022 2022 Incredible Brands of Incredible B
Slide 48: Architects and consultants
ARCHITECTS psP EDIFICE felfes architects boss Ratt — uN hear Daiwa . archascts (Qos =—— POP aré po Po eco Keb & norein KA Viay Puriobi CConnatants Pt Lt LANDSCAPE ARCHITECTS MAN INFRACONSTRUCTION LIMITED 47 STRUCTURAL CONSULTANTS Strictwel Designers & [Consultants Pot. Ls. MEP CONSULTANTS HCP... HO
Slide 49: Living Better: Strong Focus on ESG
Living Better: Strong Focus on ESG “TODAY WE LIVE OUR BEST LIFE, AND TOMORROW, WE LIVE BETTER.”- Mr. Manan Shah o Mix Design Development for Reducing the o Use of high-performance energy efficient double- Environmental Impact of Concrete glazed glass which reflects heat and allows light into (Reduct
Slide 50: Amenities
AMENITIES Infinity Swimming Pool Toddler’s Area *Flats/Units offered for sale are only for Tower 3 (Clove) & Tower 4 (Dion) of Aaradhya Parkwood 1 Project. Real Estate: Ongoing Projects 49 Yoga & Zumba Indoor Games Area Artist's Impression
Slide 51: Amenities
Real Estate: Ongoing Projects Artist's Impression Artist's Impression AMENITIES Artist’sImpression Reflection Pool Elegant Deck Seating Peaceful Zen Garden Silver Screen Theatre 50
Slide 52: Amenities
Real Estate: Ongoing Projects Artist's Impression Artist's Impression AMENITIES Artist’s Impression Luxurious Swimming Pool Kids’ Play Area Mini - Theatre Gymnasium 51
Slide 53: Amenities
Real Estate: Ongoing Projects Artist's Impression AMENITIES Artist’s Impression The Sports Lounge Snooker Lounge Gymnasium Business Chamber 52
Slide 54: Amenities
Real Estate: Ongoing Projects Phase - II Artist's Impression AMENITIES Swimming Pool Theatre The Gymnasium Play Court - Tennis Kids Play Zone 53
Slide 55: Real Estate: Completed Projects
Real Estate: Completed Projects 54
Slide 56: Completed Projects - Aaradhya Eastwind
Real Estate: Completed Projects - Aaradhya Eastwind All images are actual shots. 55
Slide 57: Completed Projects - Aaradhya Highpark Phase 1
Real Estate: Completed Projects - Aaradhya Highpark – Phase 1 All images are actual shots. 56
Slide 58: Completed Projects - Aaradhya One Earth Phase 1
Real Estate: Completed Projects - Aaradhya One Earth – Phase 1 All images are actual shots. 57
Slide 59: EPC Completed Projects – Port Infrastructure
EPC Completed Projects – Port Infrastructure Constructed the first Private Port of India Bharat Mumbai Container Mundra International Chennai Container Terminal Terminals Pvt Ltd (BMCT) Container Terminal (MICT) (CCT) 90 Hectares 23 Hectares 15 Hectares Nhava Sheva International Container Terminal G
Slide 60: EPC Completed Projects – Residential Buildings and Townships
EPC Completed Projects – Residential Buildings and Townships Kohinoor Residency PCMC - EWS CLIENT : Kohinoor Planet Construction CLIENT : Pimpri Chinchwad Pvt. Ltd. Municipal Corporation (PCMC) AREA: 0.30 Million Sq. Ft. AREA: 2.46 Million Sq. Ft. Blue Ridge Orchid Woods CLIENT : Flagship Infrastruc
Slide 61: EPC Completed Projects – Commercial Buildings and Institutions
EPC Completed Projects – Commercial Buildings and Institutions Kohinoor Commercial Complex Godfrey Phillips Factory Shed CLIENT : Kohinoor Planet Construction Pvt. CLIENT : Godfrey Phillips India Ltd. Ltd. AREA: 0.10 Million Sq. Ft. AREA: 0.36 Million Sq. Ft. Sai Complex Gigaplex IT Park CLIENT : Sh
Slide 62: Thank You
THANK YOU INVESTOR RELATIONS Company: MICL Go India Advisors Name: Mr. Yashesh Parekh Name: Mrs. Sheetal Khanduja Email: Yashesh@maninfra.com Tel: +91-9769364166 Email: sheetal@goindiaadvisors.com 61
Man Infraconstruction — Q1 FY24 Earnings Presentation on 6ix