Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — H1 FY2020 Earnings Presentation
37 slides from Prestige Estates Projects's earnings presentation, Sep 30, 2019
Slide 1: Investor Presentation: Half year results for six months ended 30th September, 2019
Investor motion. Presentation Half year results for six months ended 30th September, 2019 PRESTIGE GROUP 1 Prestige Falcon Towers, Headquarters, Pictures Shot at Location
Slide 2: Index
Index Results for the six months ended 30th September, 2019 1. Operational Highlights 2. Financials Highlights 3. Guidance vs Achieved 01 Key Highlights 1. Residential 2. 3. Office Shopping Malls 02 Segment Review 4. Hospitality 5. Property Management 1. Scale 2. 3. Business Model Board & Management
Slide 3: Operational Highlights Q2FY20
Operational ₹10,263 Mn ₹10,785 Mn Highlights From 1.46 mn sf. Q2FY20 Collections up 5% yoy PG share is ₹ 8,382 mn, PG share is ₹8,679 mn from 1.18 mn sf up 5% 1.52 mn sf ₹2,227 Mn Delivered 1.31 mn sf Launched Rental Income/quarter up 23% yoy (PG share) 0.31 Mn sf Leased 3 Pictures Shot at Location
Slide 4: Operational Highlights H1FY20
Operational ₹20,425 Mn ₹22,036 Mn Highlights From 2.86 mn sf. Up 2% yoy PG share is ₹ 16,996 mn, from Collections up 10% yoy ₹17,736 mn (PG share) 2.40 mn sf Up 9% H1FY20 11.85 Mn sf 7.88 Mn sf Delivered in H1F20 Launched, up 392% yoy 4 Pictures Shot at Location 4
Slide 5: 11.85 Mn Sf Delivered
11.85 Mn Sf Prestige Developable Economic Share Delivered S.No 1 Project Completed Prestige Bagamane Temple Bells Location Bengaluru Segment Area (Mnsf) Residential 1.73 Interest (%) 70.00 (Mnsf) 1.21 H1F20 2 Prestige Falcon City Bengaluru Residential 6.08 42.16 2.56 3 Prestige Gulmohar Bengaluru Re
Slide 6: 7.88 Mn Sf Launched
7.88 Mn Sf Developable Economic Prestige Share Launched S.No Project Launched Location Segment Area (Mnsf) Interest (%) (Mnsf) 1 Prestige Palm Residences Mangaluru Residential 0.35 75.00 0.26 H1F20 2 Prestige Tech Cloud Bengaluru Commercial 4.65 86.00 4.00 3 Tech Park IV Bengaluru Commercial 1.58 90
Slide 7: Major Upcoming Launches
18.9 Mn Sf Major Upcoming Launches H1F20 Developable SLN Projects Name Location Area mn sf 1 Prestige Smart City Sarjapura, Bengaluru 10.9 2 Prestige Finsbury Park North Bengaluru 3.4 3 Prestige Tranquill Hyderabad 1.6 4 Sector 150 Noida 2.5 5 Prestige Jasdan Classic Byculla, Mumbai 0.5 Total 18.9 A
Slide 8: Rental Income Growth
• uplock 10 mn sf Rental Total Leased Office space Income Growth 10 Shopping Malls Q2 Q1 Across geographies 5000 4500 4000 3500 3000 22% 2500 2000 1500 Rental CAGR yoy 1000 500 (F16-20) 0 H1F16 H1F17 H1F18 H1F19 H1F20 8 Pictures Shot at Location
Slide 9: Financial Highlights Q2F20
₹19,627 Mn ₹ 6,497 Mn Financial REVENUE EBITDA Highlights Q2F20 ₹ 1,572 Mn EBITDA 33% PAT 8% PAT* 9 Pictures Shot at Location * Before Minority Interest
Slide 10: Financial Highlights H1F20
₹35,301 Mn ₹12,061 Mn Financial REVENUE EBITDA Highlights H1F20 ₹ 2,811 Mn EBITDA 34% PAT 8% PAT* 10 Pictures Shot at Location * Before Minority Interest
Slide 11: Debt Profile
Debt Profile H1F20 Project Debt - Resi Office Capex Hospitality Capex Rental Securitisation Loans Receivables discounting loans 19% 21% DER at 1.91x Net Debt stood at ₹ 84698 mn, 6% Networth at ₹ 44275 mn. 9% In Q1F19, due to IND AS 115, Revenue has been reversed to the extent of ₹ 74,656 Mn with co
Slide 12: Business Vertical Review
Business Vertical Review Values in mn As of H1F20 H1FY19 Office Retail Hospitality Services Residential Others Total Revenue 3,255 2,336 2,134 2,821 22,932 - 33,478 EBITDA 2,943 1,482 655 571 4,541 - 10,192 EBITDA % 90% 63% 31% 20% 20% 30% Depreciation 790 509 700 29 54 - 2,082 EBIT 2,153 973 -45 54
Slide 13: Guidance vs Achieved
Guidance vs Achieved Values in mn As of H1F20 Target for Full Year Particulars FY20 H1F20 % New Sales Value 50,000 to 60,000 20,425 41% Turnover 50,000 to 55,000 35,377 71% Collections 45,000 to 50,000 22,036 49% Launch Volume 10 to 12 7.88 79% Completions 10 to 12 11.85 119% Leasing Volume 2 to 2.5
Slide 14: Residential Segment Review
Residential Segment Review H1FY20 Bengaluru |Chennai | Hyderabad | Kochi | Mangaluru Pune| Goa| Mumbai|NCR|Ooty | Udaipur | Mysuru 300+ Awards Pictures Shot at Location 28 Projects 22 Projects ₹ 131,946 mn FCF 107 Projects + Development CRISIL DA1 Across 32 mn sf Across 40 mn sf Across 75 mn sf Comp
Slide 15: Ongoing Project Profile
Ongoing Project Profile H1F20 Ahmedabad Bengaluru Chennai Hyderabad Kochi Mangaluru Pune Residential Commercial Retail Hospitality Pune Mangaluru 3% Ahmedabad Retail Hospitality 3% 1% 5% 2% Kochi 8% Commercial 26% Hyderabad Bengaluru 16% 66% Residential Chennai 67% 3% State/City No. of Projects Deve
Slide 16: Upcoming Project Profile
Upcoming Project Profile Bengaluru Chennai Calicut Goa Hyderabad Kochi Mangaluru Mumbai Mangaluru Residential Commercial Retail Hospitality 1% Mumbai Kochi 2% Retail 2% 5% Hyderabad 12% Calicut Commercial 2% 30% Chennai 10% Residential 65% Bengaluru 71% State/City No. of Projects Developable Area (M
Slide 17: Land Bank
Land Bank S.No. Entity Name Location (Acres) Interest Share (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi,Bengaluru 143 100% 143 2 Prestige Estates Projects Ltd Bengaluru 2 100% 2 3 Village De Nandi Pvt Ltd Bengaluru 25 100% 25 4 Eden Investments Goa 74 78% 58 5 Perumbakam/Chennai Chennai 20 66%
Slide 18: ₹75,707 Mn FCF from Under construction Projects
₹75,707 Mn FCF from Under construction Projects Particulars Area in Mn Sft ₹ Mn % Total Developable Area 81.81 Car Park Area 22.66 Total Saleable Area 59.15 PG area share 45.46 Estimated Value 3,02,462 Sold 33.82 2,18,179 74 Collections 1,75,998 Stock Breakup Balance to collect 42,181 Stock 11.63 84
Slide 19: ₹56239 Mn FCF from Under Planning Projects
₹56239 Mn FCF from Under Planning Projects Particulars Area in Mn Sft ₹ Mn Total Developable Area 38.87 Car Park Area 10.58 Total Saleable Area 28.29 PG area share 24.01 Estimated Value -A 1,37,445 Cost of Development 92,546 Incurred as of Q2F20 9,037 Balance to spend -B 83,509 RD Paid -C 2,303 Net
Slide 20: Office Portfolio Review
Office Portfolio Review H1FY20 Bengaluru |Chennai | Hyderabad | Kochi | Pune| Mumbai |Ahmedabad | NCR 300+ Awards Pictures Shot at Location 108 Projects 12 Projects 13 Projects ₹ 20318 Mn ~5,00,000 Across 13 mn sf Across 23 mn sf Rentals/annum near term Employee Workspace Across 33 mn sf Completed ₹
Slide 21: Exit Rental Breakup | Office
₹6104 mn Exit Rental Breakup | Office Rent P.A. (Rs S.No. Project Name Segment Leasable Area Interest (%) Interest (MnSf) Prestige Share mn) 1 Prestige Estates Projects Limited Commercial 2.07 100.00 2.07 2.07 992 2 West Palm Developers Pvt Ltd Commercial 0.32 61.00 0.20 0.20 98 3 Prestige Valley Vi
Slide 22: ₹367 mn Incremental Exit Rental | Office
₹367 mn Incremental Exit Rental Breakup | Office S.No. Project Name Segment Leasable Area Interest (%) Interest (MnSf) Prestige Share Rent P.A. 1 Cessna Business Park B10 Commercial 0.48 85 0.41 0.41 367 Incremental rental in F20 Total 0.48 85 0.41 0.41 367 22
Slide 23: Shopping Malls Segment Review
Shopping Malls Segment Review H1F20 Bengaluru |Chennai | Hyderabad | Kochi | Mangaluru 10 Malls 7 Malls 70+ mn 900+ 1200/sf ₹ 5621 Mn Stores Trading Density Rentals/annum near term Operational In the Pipeline Foot falls pa ₹3219 mn Yielding PG share 23 * Current rental rate
Slide 24: Exit Rental Breakup | Retail
₹ 3299 mn Exit Rental Breakup | Retail Area in Mnsqft Value in ₹ Million Values Based on current rental rates Rent P.A. (Rs S.No. Project Name Segment Leasable Area Interest (%) Interest (MnSf) Prestige Share mn) 1 Forum Celebration Mall, Udaipur Retail 0.39 100.00 0.39 0.39 229 2 Forum Mall Bengalu
Slide 25: Hospitality Portfolio Review
Hospitality Portfolio Review H1F20 Managed by Conrad | Sheraton | Oakwood Pictures Shot at Location 8 Hotels 297 ₹ 4503 mn ₹3854 mn 1262 Keys Operational Key under Construction Revenue potential near term Yielding 25
Slide 26: Property Management Portfolio Review
Property Management Portfolio Review Pictures Shot at Location Residential Incremental ₹12,000+ mn ₹5640 mn 11 Office, Revenue Potential Yielding 143 mn sf Locations Retail, Potential area management Hospitality 26
Slide 27: Summary & Growth Trajectory
Summary & Growth Trajectory Area in Mnsqft Value in ₹ Million Values Based on current rental rates 1. OFFICE UNDER Value in ₹ Million OPERATING CONSTRUCTION UPCOMING TOTAL GLA 10.31 5.65 17.07 33.03 Economic Interest 8.94 4.12 12.48 25.54 Rentals p.a. ₹ 7,479 5,564 14,363 27,405 Economic Interest ₹
Slide 28: 32+ Years of Trust
32+ Years Of trust… Residential | Office | Shopping Malls | Hospitality | Property Management 28
Slide 29: 241 Projects Completed Since Inception
241 Projects across 125 mn sf Completed since inception 300+ Awards Residential | Office | Shopping Malls | Hospitality | Property Management
Slide 30: Scale of Operation | Summary
Scale of operation | Summary Area In mn sf Plotted Area in mn sf Residential Commercial Retail Hospitality Development Total Particulars Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Completed Projects 107 74.72 108 33.24 10 7.12 8 2.51 8 7.42 241 125.01 Ongoing Projects 28 32.39 12 12
Slide 31: Shareholding
Shareholding Promoters 70% FIIs 27% DIIs 2% Retail 1% RESEARCH COVERAGE 1 Axis Capital Limited 8 ICICI Securities 2 Bank of America Merrill Lynch 9 JM Financial 3 Citigroup 10 J.P. Morgan 4 CLSA 11 Kotak Securities 5 Elara Capital 12 Macquarie 6 Goldman Sachs 13 Morgan Stanley 7 HDFC securities 14 U
Slide 32: 300+ Awards & Recognitions
300+ Awards & Recognitions 250+ TOP INDIAN CERTIFICATE OF MOST ADMIRED BEST AWARDS REAL ESTATE EXCELLENCE SHOPPING RESIDENTIAL COMPANY CENTER PROJECTS BEST RETAIL MOST BUILDER OF THE DEVELOPER OF ADMIRED PROJECTS PROMISING YEAR THE YEAR BRAND OF ASIA BRAND …AND MANY MORE 32
Slide 33: Board
Board Irfan Razack Rezwan Razack Noaman Razack Uzma Irfan Chairman & Managing Director Joint Managing Director Wholetime Director Director Dr. Pangal Ranganath Nayak Jagdeesh K. Reddy B.G. Koshy Noor Ahmed Jaffer Independent Independent Independent Independent Director Director Director Director 33
Slide 34: Executive Management
Executive Management Faiz Rezwan Zaid Sadiq Anjum Jung Zayd Noaman Executive Director- Executive Director- Executive Director- Interior Executive Director- CMD’s Office Contracts & Projects Liasion & Hospitality Design Omer Bin Jung Nayeem Noor Zackria Hashim Venkat K Narayan Executive Director- Hos
Slide 35: Executive Management
Executive Management Suresh Singaravelu Swaroop Anish Arvind Pai Executive Director- Retail, Executive Director- Business Executive Director- Legal Hospitality Development V. Gopal V.V.B.S. Sarma Lt. Col. Milan Khurana (Retd.) Executive Director- Chief Financial Officer Executive Director – HR, IT &
Slide 36: Disclaimer
DISCLAIMER This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which ar
Slide 37: Thank You
Thank You WE HAVE MOVED TO OUR NEW OFFICE For any queries Please contact, E: investors@prestigeconstructions.com Registered Office- No. 19, Brunton Road,( Off M.G Road ) Bangalore 560 025 Landmark- Trinity Metro Station T: +91 -80 –25001 248, F: + 91 –80 -25591945, Website: www.prestigeconstructions
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