Man Infraconstruction Limited · NSE:MANINFRA
Man Infraconstruction — Q1 FY25 Earnings Presentation
37 slides from Man Infraconstruction's earnings presentation, Aug 6, 2024
Slide 1: Exchange filing cover letter for Investor Presentation Q1 FY25
EPC REAL ESTAT E MAN INFRACONSTRUCTION LIMITED (CIN: L70200MH2002PLC136849) 6th August, 2024 The Listing Department The Corporate Relationship Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E}, Mumbai -400 051,
Slide 2: Investor Presentation – Q1 FY25
M A N INFRACONSTRUCTION LIMITED INVESTOR PRESENTATION – Q1 FY25 AUGUST 2024
Slide 3: This presentation has been prepared by and is the sole responsibility of Man Infraconstruction
• 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 or invitatio
Slide 4: Index
Index Group Overview 04 Group Overview 04 Business Model 10 Business Model 10 Performance Snapshot 30 Performance Snapshot 20 Company Highlights 43 Company Highlights 29 Project Portfolio 48 Annexure 51 M A N INFRACONSTRU CTION LIMITED
Slide 5: Built with ethics, led with passion, focused on value creation
13UILT WITH ETHICS. LED WITH PASSl()N. FOCUSED ()N VALUE CREATION M A N INFRACONSTRU CTION LIMITED
Slide 6: Years of experience in real estate and construction
60 10+ YEARS OF EXPERIENCE IN YEARS OF EXPERIENCE IN CONSTRUCTION ACROSS THE REAL ESTATE DEVELOPMENT COUNTRY 50+ MN SQ. FT. OF REAL ESTATE AND INFRA. CONSTRUCTION DELIVERED 800+ 3,500+ WORKFORCE HAPPY EMPLOYMENT FAMILIES 5 M A N INFRACONSTRU CTION LIMITED
Slide 7: EPC Business and Real Estate Business
EPC BUSINESS REAL ESTATE BUSINESS 60 years of experience in infrastructure development and Built a niche in the field of redevelopment real estate projects • Cluster, Private society, MHADA and SRA Developed 8 major ports across India – Navi Mumbai, Chennai, Delivered high-rises in record time of le
Slide 8: Before time completion, negligible inventory, asset light model
BEFORE TIME COMPLETION Track record of delivering all 17 Projects comprising 2.4 mn sq. ft. of carpet area at least 6 months to 1 year before scheduled date NEGLIGIBLE INVENTORY IN COMPLETED (OC RECEIVED) PROJECTS Nearly 90% of the inventory is sold out before receipt of OC in all the projects FOCUS
Slide 9: Real estate portfolio and EPC portfolio
6.1 mn. sq. ft. Projects – REAL ESTATE PORTFOLIO Rs. 728 cr. Order book – EPC PORTFOLIO ~2.1 Mn. Sq. ft. 1.0 ~110 hectares 14% of Ongoing projects 2.4 Delivered of ongoing ports & infra Residential Ongoing projects Infrastructure Upcoming 3.1 Balance Potential ~3.5 Mn. Sq. ft. ~4.0 Mn. Sq. ft. 2.1 o
Slide 10: Key real estate projects
AARADHYA AVAAN AARADHYA ONEPARK PROJECT AT PROJECT NEAR Tardeo Ghatkopar (E) Goregaon (W) Marine Lines Building one of India’s tallest residential towers Developing first of its kind 12,000+ sq mt gated Developing one of the largest redevelopment Building India’s one of the tallest residential with
Slide 11: Real estate projects and EPC projects income streams
REAL ESTATE PROJECTS EPC PROJECTS DM FEE* OR EPC INTEREST EPC PMC EQUITY MARGIN MARGIN** MARGIN Or MARGIN MARGIN In-house Engineering Funds infused into Includes Infra projects Professional managing For Handling and & Construction Projects as debt earns an from Government and of site, material & mar
Slide 12: Real estate projects model
REAL ESTATE PROJECTS MODEL Joint Society Development Development Joint Venture Redevelopment Manager (DM) Agreement (JDA) (Pvt./Mhada/SRA) Reduces Overall Initial Investment 1. Sales for projects executed under subsidiaries gets reflected in consolidated revenue in the financial statements 2. Sales
Slide 13: Ongoing projects
ONGOING PROJECTS Sales / DM MICL’s MICL’s Total Carpet Total Sales Real Estate Projects EPC Project Project Name Location Fees Stake Model Area Potential Income Streams Income Streams Recognition Equity (Lakh sq. ft.) (Rs. Cr) DM Fee EPC Margin PMC Margin Margin Aaradhya Ghatkopar, 60.00% Subsidiary
Slide 14: Upcoming projects
UPCOMING PROJECTS Sales / DM EPC Project MICL’s MICL’s Total Carpet Total Sales Real Estate Projects Project Name Location Fees Income Stake Model Area Potential Income Streams Recognition Streams (Lakh sq. ft.) (Rs. Cr) DM Fee Equity Margin PMC Margin Dahisar Phase 3 Near 99.99% Subsidiary ~9.5 ~1,
Slide 15: Strong Focus on Margins as well as Profitability
Consolidated financials – Amount in (Rs. Cr) EBITDA MARGIN and PBT MARGIN NET PROFIT 32.6% 29.2% 30.7% 20.5% 12.2% 25.7% 25.8% 24.5% 300 22.6% 21.9% 259 216 78 32 FY21 FY22 FY23 FY24 Q1FY25 FY21 FY22 FY23 FY24 Q1FY25 EBITDA Margin PBT Margin Strong Focus on Margins as well as Profitability 14 M A N
Slide 16: Maintaining Financial Prudence with Low Debt and High Liquidity
Consolidated financials – Amount in (Rs. Cr) NET CASH POSITIVE BALANCE SHEET SIGNIFICANT SECURED DEBT REDUCTION 0.3 0.1 -0.1 -0.4 -0.3 741 332 513 487 228 299 308 123 91 33 Cash & cash Eq. Net Debt/Equity ratio (x) Mar-21 Mar-22 Mar-23 Mar-24 Jun-24 Sep-22 Dec-22 Mar-23 Mar-24 Jun-24 Maintaining Fin
Slide 17: Consolidated financials
Consolidated financials – Amount in (Rs. Cr) 572 448 321 187 78 FY21 FY22 FY23 FY24 Q1FY25 16 M A N INFRACONSTRU CTION LIMITED
Slide 18: Fund raise details and status
FUND RAISE DETAILS STATUS Raised Rs. 543 crores Funds Raised Status through preferential route in January 2024 • Received 25% of the issue price (Rs. 136 crores) • Balance 75% (Rs. 407 crores) to be received on or before July 2025 Allotted 3,50,46,100 Convertible Amount Utilized Rs. 127.6 Crores upt
Slide 19: Key metrics: sales visibility, pipeline, order book, liquidity
Funds Raised Real Estate Sales Visibility** Real Estate projects pipeline EPC Order Book Rs. 543 Cr.* 6.1 mn sq. ft. ~15,000 Rs. Cr. Rs. 728 Cr. via preferential route Carpet Area Investments in Subsidiary Debt Status Liquidity Levels Cash flow from Operations Real Estate Projects Net Cash Rs. 487 C
Slide 20: Strategy
Expansion Global (USA) Strategy Expansion Maintain strong Higher Revenue liquidity & Visibility • Real Estate • Expanded Real Estate profitability - Establishing presence business in Miami, in western suburbs of Mumbai, MMR and Florida, USA • Expecting potential • Focus to be Net South Mumbai increa
Slide 21: Performance Snapshot
PERFORMANCE SNAPSHOT
Slide 22: Operational Update
Operational Update STELLAR SALES PERFORMANCE Q1FY25 DELIVERY Achieved Robust Sales Volume ~2.4 lakh sq. ft. Secured Occupancy Certificate (OC) for Atmosphere O2 - Gateway (Commercial Tower) Record Surge in Sales of Rs. 691 Cr in Q1FY25 Delivered ~3.0 lakh sq. ft. of construction Collection
Slide 23: Innovative Community Living Concept
Launched in Jan-24 Innovative Community Living Concept • Ultra-Luxurious project in Ghatkopar East, launched in Jan -24 • Achieved nearly 50%* of the total estimated sales potential of Rs. 1,200 Cr • Saleable carpet area of ~4.3 lakh sq. ft. • Configuration of 3, 4 and 5 BHK residences • Boasts over
Slide 24: Mumbai BKC redevelopment project
Acquired in Jun-24 Mumbai Ultra-Luxury 1.5 L sq. ft. Rs. 750+ Cr 34% BKC Redevelopment Indicative carpet Indicative Project saleable area Topline Project Details: Prime Location: BKC, Kalanagar area Configuration: Ultra-Luxury Residences of 3 & 4 BHK Launch: Expected in FY25 during festive per
Slide 25: Ongoing project sales status as on Jun-24
As on Jun-24 MICL Group Type Units Sold Total Units RERA Carpet Area Sold in Total Area Date of Sr. No. Project Name Location Model Total Units Stake In Q1FY25 Sold area* Q1FY25 sold Completion$ (%) (nos.) (nos.) (nos.) (sq ft.) (sq ft.) (sq ft.) Aaradhya Parkwood Near 2 Residential 1 99.99% Subsidi
Slide 26: Upcoming projects as on Jun-24
As on Jun-24 MICL Group Type MICL's RERA Expected Sr. No. Project Name Location Total Units Stake Model Carpet area^ Launch Date* (%) (nos.) (sq ft.) Aaradhya Parkwood - Near 2 Residential 1 99.99% Subsidiary 455 2,30,136 FY25 Tower A & B Dahisar Towers Dahisar Phase 3 Near 2 99.99% - Subsidiary - ~
Slide 27: Negligible unsold inventory and track record of delivering before time
As on Jun-24 Completed time Project Sr. Total Carpet Carpet Area Projects Towers Type Location Model Total Units Units Sold before Completion No. Area Sold scheduled Date Timeline 1 Tower E, F, G, H & I Residential Subsidiary 325 306 3,23,154 3,06,765 14 Months Sep-20 - Jan-24 2 Tower D Residential
Slide 28: US projects in Florida
1505 Ponce 3090 McDonald Avenue 551 Bayshore Location: Coconut Grove, Florida Location: Fort Lauderdale, Florida, USA Location: Coral Gables, Florida, USA Type: New Residential Project Type: Residential Type: Residential Size: : Saleable area of ~6,000 sq. ft. Size: 81 Luxury residence units with Si
Slide 29: EPC infrastructure and residential construction work
INFRASTRUCTURE RESIDENTIAL ~0.8 Mn. sq. ft. of Construction Work ~2.7 Mn. sq. ft. of Construction Work • Govt. Residential: PCMC - Charholi • Atmosphere O2 (Tower F and Tower G)* • Aaradhya Avaan** ~110 Hectares - Ports – BMCT Actual Shot Bmct Port – Phase 2, Nhava Sheva, Navi Mumvai Artist's Impres
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Slide 31: Key highlights Q1 FY25
Consolidated financials – Amount in (Rs. Cr) Revenue for operations stands at Rs. 341.6 cr. Total Income stands at Rs. 368.4 cr. PBT Margins stands at 30.7% KEY HIGHLIGHTS Net profit stands at Rs. 77.5 cr. Net Cash positive at consolidated levels Strong liquidity of Rs. 486.6 cr. as on Jun-24 30 M A
Slide 32: Consolidated financials
Consolidated financials – Amount in (Rs. Cr) Particulars Q1FY25 Q1FY24 FY24 Revenue from operations 341.6 509.7 1,263.5 Real Estate 226.5 133.5 526.7 EPC 115.1 376.2 736.7 EBITDA 83.5 109.1 326.4 EBITDA Margin 24.5% 21.4% 25.8% PBT 113.2 113.8 397.2 EBITDA Margin 30.7% 21.7% 29.2% PAT 77.5 82.4 300.
Slide 33: Consolidated profit and loss
Particulars (Rs. Crs.) Q1 FY25 Q1 FY24 Q4 FY24 FY24 Revenue from operations 341.6 509.7 296.7 1,263.5 Other Income 26.8 14.1 35.5 96.8 Total Income 368.4 523.8 332.3 1,360.2 Total Expense 258.1 400.6 247.1 937.1 EBITDA excluding Other Income 83.5 109.1 49.6 326.4 EBITDA Margin (%) 24.5% 21.4% 16.7%
Slide 34: Consolidated profit & loss statement
Profit & Loss Statement (Rs. Crs.) Q1FY25 FY24 FY23 FY22 FY21 Revenue from Operations 341.6 1,263.5 1,890.3 961.5 427.2 Other Income 26.8 96.8 47.9 201.2 24.9 Total Income 368.4 1,360.2 1,938.3 1,162.7 452.1 Total Expense 258.1 937.1 1,476.4 714.0 330.6 EBITDA excluding Other Income 83.5 326.4 413.9
Slide 35: Standalone financials
Particulars (Rs. Crs.) Q1 FY25 Q1 FY24 Q4 FY24 FY24 Revenue from operations 107.6 362.6 121.4 708.3 Other Income 16.5 7.8 64.8 96.5 Total Income 124.1 370.4 186.2 804.8 Total Expense 70.3 283.1 111.3 548.5 EBITDA excluding Other Income 37.3 79.5 10.1 159.8 EBITDA Margin (%) 34.7% 21.9% 8.3% 22.6% De
Slide 36: Standalone profit & loss statement
Profit & Loss Statement (Rs. Crs.) Q1FY25 FY24 FY23 FY22 FY21 Revenue from Operations 107.6 708.3 797.8 236.6 119.6 Other Income 16.5 96.5 83.2 75.3 113.8 Total Income 124.1 804.8 881.0 311.9 233.4 Total Expense 70.3 548.5 660.9 175.5 115.9 EBITDA excluding Other Income 37.3 159.8 136.9 61.1 3.7 EBI
Slide 37: Thank You
THANK YOU INVESTOR RELATIONS Company: MICL Go India Advisors Name: Mr. Yashesh Parekh Name: Mrs. Sheetal Khanduja Tel: +91-8108321555 Tel: +91-9769364166 Email: Yashesh@maninfra.com Email: sheetal@goindiaadvisors.com M A N INFRACONSTRUCTION LIMITED
Man Infraconstruction — Q1 FY25 Earnings Presentation on 6ix