DLF Limited · NSE:DLF
DLF — Q3 FY09 Earnings Presentation
30 slides from DLF's earnings presentation
Slide 1: DLF Limited Q3 FY09 Presentation
DLF Limited Q3 FY09 Presentation • The Previous Quarter figures have been regrouped / rearranged wherever necessary to make them comparable. All figures for the current quarter are unaudited, but reviewed by statutory auditors 1
Slide 2: Safe Harbour
SAFE HARBOUR This presentation contains certain forward looking statements concerning DLF’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The
Slide 3: Industry Outlook
Industry Outlook Challenging market conditions through 2008 have triggered off a significant slowdown since Nov. 2008 Q3 FY09 has witnessed an evaporation of demand due to Ê Adverse credit conditions as a result of flight of capital Ê Depressed sentiments because of the economic slowdown and low
Slide 4: Performance of Company
Performance of Company ¾ Steep fall in Revenues triggered by:- Sharp drop in incremental sales in Nov, Dec ‘08 and marginal cancellations of pre-leases coupled with insignificant new leasing volumes. Tight control on cash outflow in view of the uncertainty in credit and liquidity conditions, lea
Slide 5: DAL Strategy
DAL Strategy Total area planned to be delivered by March-09 ~ 9.5 msf For closure of the entire 9.5 msf receivable, PE investment in DAL is at an advanced stage Ê Negotiations & due diligence underway Ê Transaction expected to be completed soon, possibly in the current financial year Given con
Slide 6: Reviewed Results at a Glance – Q3 FY09
Reviewed Results at a Glance – Q3 FY09 Q3 FY09 (Reviewed) Q3 FY08 (Reviewed) Q2 FY09 (Reviewed) Nine months FY09 (Reviewed) FY 2007- 08(Audited) Percentage Percentage of Percentage of Percentage of Percentage of Sl.No. Consolidated Financials Rs. Crs Rs. Crs Rs. Crs Rs. Crs Rs. Crs of Total Total Re
Slide 7: Consolidated Balance Sheet – Q3FY09
Consolidated Balance Sheet –Q3FY09 As at Rs. In Crs Schedule 31-Dec-08 31-Dec-07 30-Sep-08 31-Mar-08 SOURCES OF FUNDS Shareholders' funds Capital 1 1,737 1,291 1,737 1,290 Reserves and surplus 2 23,015 16,395 22,376 18,398 24,752 17,686 24,113 19,688 Minority Interests 3 482 384 477 390 Loan funds S
Slide 8: Balance Sheet & Cash Flow Summary (Q3 FY09 vs Q2 FY09)
Balance Sheet & Cash Flow Summary (Q3 FY09 vs Q2 FY09) Total debt [secured & non-secured] at Rs 15,525 Crs, D / E ratio of 0.63 Gross Block increased from Rs 5,594 Crs to Rs 6,947 Crs; CWIP decreased from Rs 7,529 Crs to Rs 7,268 Crs Ê The above reflects a significant progress in completion & ca
Slide 9: Cash Flow Statement – Q3 FY09
Cash Flow Statement – Q3 FY09 Rs. In Crs Quarter ended Quarter ended Nine months ended Year ended Particulars 31-Dec-08 31-Dec-07 31-Dec-08 31-Mar-08 A. Cash flow from operating activities: Net profit before tax 735 2,461 5,222 9,559 Adjustments for: Depreciation 79 15 184 90 Loss/(profit) on sale o
Slide 10: Debt Position – Q3 FY09
Debt Position – Q3 FY09 Debt Position Rs cr Rs cr Total Debt (Note 1) 15,525 Less: Cash in Hand 697 Less: Equity shown as debt (Note 2) 712 Net Debt 14,116 Deployment: ~ Hotels (including AMAN Resorts) 3,300 ~ Power (including wind power and utilities) 1,500 ~ Expected from DAL in Q4 FY09 2,250 7,05
Slide 11: Business Operations
A DLFam BUILDING INDIA Business Operations
Slide 12: Homes
Homes Mid-Income Housing ¾ Maintained sales momentum till Oct 2008 ¾ Slump in sales November onwards, sold 77 units in Nov & Dec months i.e. approx. 40 units per month against an average run rate of 400 units per month ¾ Plan to test market initially with few launches in Q4 FY09 and then progress wi
Slide 13: Homes – Segment
Homes Segment - Homes Under Construction Homes (msf) Particulars TOTAL Total mn sqft 20 Q3 09 Q3 08 Q2 09 YTD 09 Sales Booked (msf) 15 Opening Balance 19.49 5.43 16.70 14.57 15 14 Booked during Qtr 0.70 1.41 2.79 5.63 10 Handed Over 0.00 0.00 0.00 0.00 Closing Balance 20.20 6.84 19.49 20.20 Q2' 09 Q
Slide 14: Homes ~ Snap Shot Building Under Construction
Homes ~ Snap Shot Building Under Construction Indore Township Kolkata Township Magnolias Phase V Gurgaon Belaire Phase V Gurgaon 14
Slide 15: Homes - Forthcoming Launches
Homes - Forthcoming Launches Panchkula Gurgaon Delhi Hyderabad Bangalore City Centre Chennai Mid Income Cochin 15
Slide 16: Business Summary - Offices
Business Summary - Offices Current Market Situation – Lease Segment Marginal cancellations anticipated due to difficult market conditions as customers have put expansion plans on hold Incremental pre-leases negligible as customers adopt a wait & watch policy Company Focus Expedite execution &
Slide 17: Offices
Offices OFFICES Development Potential (Msf) Total Particulars Total mn sqft Q3 09 Q3 08 Q2 09 YTD 09 Sales / Leased Booked 161 Opening Balance 16.83 11.48 15.41 16.03 Add : Lease Booked during Qtr 0.21 0.93 0.33 1.21 160 Add : Sales Booked during Qtr 0.80 2.35 1.84 4.39 Less : Handed Over 0.80 1.35
Slide 18: Offices ~ Buildings Under Construction
Offices ~ Buildings Under Construction Bldg. No.5 Cyber City Gurgaon Chennai IT Park 18
Slide 19: Offices ~ Buildings Under Construction
Offices ~ Buildings Under Construction Silokhera IT Park Gurgaon Kolkata 25 Acres IT Park 19
Slide 20: Offices - IT/ITES SEZs
Offices - IT/ITES SEZs Delhi Sonepat Gurgaon Noida Gandhinagar Kolkata Nagpur Bhubhaneswar Pune Hyderabad Notified Chennai Final Approval Applied For 20
Slide 21: Business Summary - Retail
Business Summary - Retail Current Market Situation – Lease Segment No incremental leasing as customers adopt a wait and watch approach All new launches postponed During the Q, Bhumi Pujan done at Sarojini Nagar, New Delhi Commercial Complexes [Sales Segment] No incremental sales Plan to te
Slide 22: Retail - Malls & Commercial Complexes
Retail - Malls & Commercial Complexes RETAIL Development Potential Total Particulars Total mn sqft Q3 09 Q3 08 Q2 09 YTD 09 Sales / Leased Booked Opening Balance 7.67 4.98 7.32 6.43 92 92 Sales booked during Qtr (0.01) 0.08 0.33 1.22 Lease booked during Qtr 0.03 0.07 0.19 0.21 Handing Over - - 0.17
Slide 23: Commercial Complexes Expected to be Operational Soon
COMMERCIAL COMPLEXES EXPECTED TO BE OPERATIONAL SOON Tower A Tower B JASOLA TOWERS Area : 0.83 mn sqft Location: Jasola District Centre,adjacent to Apollo hospital, New Delhi 23
Slide 24: Malls ~ Snap Shot of Building Under Construction
Malls ~ Snap Shot of Building Under Construction DLF Galleria ~ Jallanhar Mall Noida Mall 24
Slide 25: Retail & Commercial Complexes - Forthcoming Launches
Retail & Commercial Complexes - Forthcoming Launches Ludhiana Noida Hyderabad New Launch Re- Launch Chennai 25
Slide 26: Hotels - Update
HOTELS - Update Due to prevalent market conditions, all projects stand suspended till project financing is arranged for select identified projects. The Hilton joint venture continues on a firm footing and all plans for development of hotels stand as envisaged. The first hotel under the alliance,
Slide 27: Execution Capability
Execution Capability Project Under Construction (msf) 59 62 64 63 0 0 0 16 Project Under Construction Punjab (msf) Sonepat Delhi Gurgaon 61 59 64 Uttar 62 46 63 49 Pradesh Gandhinagar Kolkata Mumbai Q1 08 Q1 09Nagpur Q4 08 Q3 08 Q3 09 Q2 09 Q1 09 Pune Ongoing Construction Hyderabad Construction Susp
Slide 28: Human Resource
Human Resource Employee Count as on December 31, 2008 : 3122 QUALIFICATION COUNT 12% 48% 40% Total Prof essional Non-Technical Total Prof essional Technical Total Non- Prof essional 28
Slide 29: Our Land Resources
Our Land Resources Land Area / Cost Chart 751 mn sqft Large Township Other Land Hotel Land Grand Total Gross Area (Mln.Sq.ft.) 272 * 461 19 751 Less : Area under Construction ** 61 1 62 Net Land Area (Mln.Sq.ft.) 272 400 18 689 COST (Rs./Crs.) Total Land cost 3786 18607 1918 24312 Less : Amount Paid
Slide 30: Thank You
A DLFsm BUILDING INDIA Thank You