Kolte-patil Developers Limited · NSE:KOLTEPATIL
Kolte-patil Developers — Q1 FY2021 Earnings Presentation
23 slides from Kolte-patil Developers's earnings presentation, Aug 21, 2020
Slide 1: Exchange filing cover letter for Q1 FY21 results presentation
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Slide 2: Bigger. Better. Faster. Q1 FY21 Results Presentation
BIGGER. BETTER. KOLTE-PATIL DEVELOPERS FASTER. THE STORY OF HOW WE ARE BUILDING ONE OF INDIA’S MOST SUSTAINABLE REAL ESTATE DEVELOPING COMPANIES LIMITED Q1 FY21 Results Presentation
Slide 3: Disclaimer
2 Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those
Slide 4: Table of Contents
Table of Contents 3 KPDL – A Different Way of Doing Business 1 CEO’s Message 2 Operational & Performance Highlights 3 Launch Calendar 4 P&L / Balance Sheet Snapshot 5 Project-wise Details 6 Outlook 7 About Kolte-Patil Developers Ltd. 8
Slide 5: KPDL – A Different Way of Doing Business
KPDL – A Different Way of Doing Business 4 Self-sustaining ≈ Efficient working capital management ≈ Growth in sales volume, value, growth engine ≈ Timely execution collections with low leverage and ≈ Sound capital allocation - focused on P&L no dilution accretive Business Development ≈ ROCE avg. 15+
Slide 6: Kolte-Patil Developers: At a Glance
Kolte-Patil Developers: At a Glance 5 Leading 3 Decades 26 MSF Residential real estate player in Pune Project portfolio - under execution, (Awarded as Most Reputed Brand in Pune) of presence being incorporated in 1991 approval and land bank Shareholding FII’s 14.66% >20 MSF 15+% A+/Stable DII/Others
Slide 7: Management commentary on Q1 FY21 performance
“In the first quarter, various phases of lockdown led to the curtailment of human as well as business activity weighing down on almost every sector of the Indian economy, particularly real estate. Our entire organization has continued to work efficiently within our business continuity and risk manag
Slide 8: Operational Highlights – Q1 FY21
Operational Highlights – Q1 FY21 7 New area sales Q1 FY21 Q4 FY20 Q1 FY20 YoY QoQ FY20 Volume (million sq. ft.) 0.31 0.67 0.51 -38.4% -53.2% 2.50 Value (Rs. million) 1,642 3,549 2,837 -42.1% -53.7% 13,148 Realization (Rs./Sq. ft.) 5,228 5,292 5,563 -6.0% -1.2% 5,280 Collections (Rs. million) 1,046 3
Slide 9: Launch Calendar – Next Twelve Months
Launch Calendar – Next Twelve Months 8 Pune Projects Location Use Saleable Area (msf.) Life Republic R10 Hinjewadi, Pune Residential / Retail 1.4 Giga Viman Nagar Commercial 0.60 Launches planned across all Boat Club Boat Club Road Commercial 0.40 3 cities of presence – Pune, Down Town Kharadi Res
Slide 10: Performance Highlights – Last Four Years
Performance Highlights – Last Four Years 9 Revenue, Rs. Crore PAT, Rs. Crore Net Debt, Rs. Crore 137 517 1,221 1,226 122 122 455 1,195 434 965 87 288 FY 2017 FY 2018 FY 2019 FY 2020 FY 2017 FY 2018 FY 2019 FY 2020 FY 2017 FY 2018 FY 2019 FY 2020 Note: The Company has adopted IND AS 115 during Q1 FY1
Slide 11: Performance Highlights – Q1 FY21
Performance Highlights – Q1 FY21 10 Revenue, Rs. Crore EBITDA, Rs. Crore PAT, Rs. Crore Q1 FY20 308 Q1 FY20 68 Q1 FY20 45 Q2 FY20 302 Q2 FY20 56 Q2 FY20 24 Q3 FY20 337 Q3 FY20 77 Q3 FY20 38 Q4 FY20 280 Q4 FY20 55 Q4 FY20 31 Q1 FY21 77 Q1 FY21 -19 Q1 FY21 -32 Note: The Company has adopted IND AS 115
Slide 12: Product-wise Sales
Product-wise Sales 11 1% 4% 13% 2% 3% 1% 2% 16% Q1FY21 FY20 29% 37% 44% 47% Note: The category of ‘Others’ includes Duplex, Row House and Plots.
Slide 13: New Sales Analysis – Q1 FY21
New Sales Analysis – Q1 FY21 12 msf. 0.46 0.77 0.80 0.63 0.51 0.50 0.82 0.67 0.31 100% 3% 3% 5% 5% 5% 3% 8% 13% 9% 1% 10% 2% 9% 4% 9% 26% 11% 13% 8% 80% 30% 16% 38% 31% 60% 62% 36% 41% 24% 42% 40% 55% 63% 37% 34% 43% 23% 20% 15% 37% 13% 13% 14% 11% 16% 9% 12% 19% 18% 0% Q1 FY2019 Q2 FY2019 Q3 FY2019
Slide 14: Abridged Cash Flows
Abridged Cash Flows 13 Abridged Cash flows - Unaudited Q1 FY21 (Rs. crore) (Un-Audited) Opening Balance 97 Operating Cashflow Collections 100 Construction Cost -53 Other Expenses -30 Direct & Indirect Taxes -3 Financing & Investing Activities Interest -14 OD/CC Movement -16 OCD/CCD (Redemption)/Subs
Slide 15: Consolidated Debt Profile
Consolidated Debt Profile 14 Consolidated Debt Profile (Rs. crore) 30th June, 2020 31st March, 2020 CCM POCM^ CCM POCM^ Net Worth 878 1,196 905 1,229 Gross Debt 712 712 728 728 Less: OCD / CCD / OCRPS / 196 196 196 196 Zero Coupon NCD* Debt 516 516 532 532 Less: Cash & Cash Equivalents & Current 78
Slide 16: Revenue Recognition – Q1 FY21 vs Q1 FY20
Revenue Recognition – Q1 FY21 vs Q1 FY20 15 Q1 FY21 – Rs. 141 crore ^Q1 FY21 – Rs. 77 crore ^Q1 FY20 – Rs. 308 crore (CCM) (POCM) (POCM) Mumbai Projects 86% Life Republic 45% Western Avenue 25% Bengaluru Projects 11% Opula 17% Bengaluru Projects 17% Others 3% Life Republic 12% Western Avenue 15% Ben
Slide 17: Profit and Loss Snapshot – Q1 FY21 vs Q1 FY20
Profit and Loss Snapshot – Q1 FY21 vs Q1 FY20 16 REASONS FOR VARIANCE P&L Snapshot (Rs. crore) Q1 FY21* Q1 FY20 Q1 FY21 Q1 FY20^ YoY (POCM) Revenue Recognition Method Reported CCM Reported CCM POCM POCM POCM Revenue from Operations 140.8 585.7 77.4 308.0 -74.9% ≈ With the lockdown in place for most
Slide 18: Sales & Collections – Ongoing Projects – Q1 FY21
Sales & Collections – Ongoing Projects – Q1 FY21 17 Area Sold Sales Value APR Collections Projects Location (msf.) (Rs. mn.) (Rs./sft.) (Rs. mn.) Life Republic Hinjewadi, Pune 0.07 361 4,894 316 Ivy Estate Wagholi, Pune 0.04 187 4,506 73 Tuscan Kharadi, Pune 0.01 73 6,321 69 Downtown Kharadi, Pune 0
Slide 19: KPDL Project Portfolio – 30.06.20
KPDL Project Portfolio – 30.06.20 18 Gross Details Gross Details (including partner’s share) (including partner’s share) Ongoing & Under Ongoing & Under Projects KPDL Share Land Bank Projects KPDL Share Land Bank Unsold Approval* Unsold Approval* Jazz II (Opula) 100% 0.03 - - Jai Vijay 100% 0.05 - -
Slide 20: Healthy Return Ratios
Healthy Return Ratios 19 ROE ROCE 18.4% 14.5% 15.6% 12.8% 12.3% 11.1% 11.2% 10.1% Mar '17 Mar '18 Mar '19 Mar '20 Note: Numbers on POCM basis
Slide 21: Business Outlook
Business Outlook 20 Sector consolidation Diversifying geographical presence Efficient capital deployment • First round of consolidation resulted from • 1.1 msf across society redevelopment projects in • Continue to evaluate strategic and financial implementation of RERA and GST benefiting Mumbai par
Slide 22: About Kolte-Patil Developers
21 For further information, please About Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL), incorporated in 1991, is a leading real estate company with dominant presence in the Pune residential market. Kolte-Patil is a trusted name with a reputation for contact: Kolte-Patil high quality sta
Slide 23: Thank You
BIGGER. BETTER. FASTER. THE STORY OF HOW WE ARE BUILDING ONE OF INDIA’S MOST SUSTAINABLE REAL ESTATE DEVELOPING COMPANIES Thank You
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