Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q4 FY2019 Earnings Presentation
39 slides from Godrej Properties's earnings presentation, Apr 30, 2019
Slide 1: Revised Investors Presentation cover letter to exchanges
Godrej Properties Limited Regd.Office: Godrej One, 5th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai- 400 079.lndia Tel.: +91-22-6169 8500 Fax: +91-22-6169 8888 Website: www.godrejproperties.com CIN : L74 I 20MHI 985PLC035308 April 30, 2019 BSE Limited Phiroze Jeejeebhoy Towers
Slide 2: Results Presentation Fourth Quarter, Financial Year 2019
R E S U LT S P R E S E N T A T I O N FOURTH QUARTER, FINANCIAL YEAR 2019 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 3: Disclaimer
DISCLAIMER Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operation
Slide 4: Agenda
AGENDA Overview 01 FY19 Highlights 02 Q4 FY19 Operational Highlights 03 Q4 FY19 Financial Highlights 04 Annexure 05 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 5: Godrej Group
GODREJ GROUP Established in 1897 Value Creation Track Record $5 bn in annual revenue 18 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth 1.1 billion people globally use a Godrej product1 BSE Sensex 15% 12 Godrej ranked as 2nd most trusted Indian brand2 Godrej Consu
Slide 6: Godrej Properties
GODREJ PROPERTIES Established in 1990 Indias largest publicly listed developer by booking value over the past five years Chandigarh 0.7, 1 NCR Successfully delivered over 20 million sq. ft. of real estate in 25.1, 13 the past five years ~175 million sq. ft. of developable area across India
Slide 7: Strengths
STRENGTHS Godrej ranked as the 2nd most trusted Indian brand in the 2013 Brand Trust Report1 Godrej Brand 1.1 billion people globally use a Godrej product2 GPL brings the Godrej brands reputation for trust, quality and corporate governance to the real estate sector Effective Competitive adv
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth more than 6.5x an identical investment into the BSE Realty Index Value Creation Track Record 9 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 8.94% 2.20 Godrej Properties 14.70% 3.54 BSE Realty I
Slide 9: Agenda
AGENDA Overview 01 FY19 Highlights 02 Q4 FY19 Operational Highlights 03 Q4 FY19 Financial Highlights 04 Annexure 05 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 10: FY19 Highlights
FY19 HIGHLIGHTS Highest ever sales in a financial year by GPL Booking value of INR 5,316 crore is likely to be the highest booking value achieved by any publicly listed real estate developer in India in FY19 Sales 127% growth in booking value in H2 FY19 compared to H1 FY19. H2 FY19 booking val
Slide 11: Highest Booking Value Achieved by Any Publicly Listed Developer in FY19
HIGHEST BOOKING VALUE ACHIEVED BY ANY PUBLICLY LISTED DEVELOPER IN FY19 Highest ever sales by GPL in a financial year - booking value of INR 5,316 crore GPL is India’s largest publicly listed developer by sales in FY19 and cumulatively over the last 5 years • Sales from new launches stood at INR 3,0
Slide 12: Best Ever Year for Business Development
BEST EVER YEAR FOR BUSINESS DEVELOPMENT Added 11 new projects with saleable area of ~31 million sq. ft. in FY19 Projects added in FY19 Particulars Saleable Area (million sq. ft.) Pune portfolio* 25 Sector 43, Noida 2.2 Bandra, Mumbai 1.1 Golf Course Road, NCR 1 Ghodbunder Road, Thane 0.7 Vashi, Mumb
Slide 13: Capital Raising
CAPITAL RAISING Transaction Highlights Allotted 1,27,65,000 equity shares of INR 5 each to Gamnat Pte. Ltd., a GIC - managed investment firm for INR 783.50/share Post issue, Gamnat holds 5.57% equity stake in GPL Demonstrates GPLs ability to successfully raise capital in tough macro economic
Slide 14: Construction Highlights
CONSTRUCTION HIGHLIGHTS Delivered ~3.2 million sq. ft. across 5 cities in FY19 Godrej Central, Mumbai Godrej Prana, Pune The Trees Phase - 1, Vikhroli Godrej Oasis, NCR 0.66 million sq. ft. 0.63 million sq. ft. 0.50 million sq. ft. 0.5 million sq. ft. Godrej Prakriti, Kolkata Godrej Azure, Chennai G
Slide 15: Global Recognition for Sustainability Initiatives
GLOBAL RECOGNITION FOR SUSTAINABILITY INITIATIVES Ranked 4th in Asia & 8th globally by GRESB (Global Real Estate Sustainability Benchmark) 2018 - An industry-driven organization which assesses Environmental, Social and Governance (ESG) performance of real estate globally • GRESB is an industry-drive
Slide 16: Awards and Recognitions
AWARDS AND RECOGNITIONS GPL received 63 awards in FY19 ILLUSTRATIVE LIST OF AWARDS GODREJ PROPERTIES PROJECT & INDIVIDUAL AWARDS Best Real Estate Brand 2018 Adi Godrej The Economic Times Lifetime Achievement Award - Business Standard Awards 2019 Builder of the Year Lifetime Achievement Award -
Slide 17: Agenda
AGENDA Overview 01 FY19 Highlights 02 Q4 FY19 Operational Highlights 03 Q4 FY19 Financial Highlights 04 Annexure 05 16 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 18: Q4 FY19 Operational Highlights
Q4 FY19 OPERATIONAL HIGHLIGHTS GPLs best ever quarter for sales - booking value stood at INR 2,161 crore 105% YoY growth in the value of sales bookings Sales Highlights 41% QoQ growth in value of sales bookings despite Q3 FY19 being the previous best ever quarter for residential sales 4 new
Slide 19: Sales Highlights
SALES HIGHLIGHTS 105% YoY growth in the value of sales bookings in Q4 FY19 Particulars Q4 FY19 Q4 FY18 Growth Q3 FY19 Growth FY19 FY18 Growth Area Sold* (sq. ft.) 3,718,690 1,471,705 153% 2,802,425 33% 8,759,410 6,257,284 40% Booking Value** (INR Cr) 2,161 1,054 105% 1,528 41% 5,316 5,083 5% *Includ
Slide 20: Business Development: Pune
BUSINESS DEVELOPMENT Added 6 new projects in Pune with saleable area of 25 million sq. ft. in Q4 FY19 Pune portfolio deal Entered into a strategic partnership for the development of over 25 million sq. ft. in Pune in multiple phases over the next 10 years Portfolio comprises various asset classe
Slide 21: Business Development: Mumbai
BUSINESS DEVELOPMENT Added 2 new projects in Mumbai with saleable area of 1.6 million sq. ft. Bandra, Mumbai Entered into a joint venture to develop a 4.25 acres sea-facing property in the prime micro-market of Bandra West, Mumbai. Project will offer ~1.1 million square feet of saleable area and w
Slide 22: Project Booking
PROJECT BOOKING Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Residential Projects Q4 FY19 FY19 Q4 FY19 FY19 Godrej Central Park, Pune 575,173 575,173 316 316 Godrej Golf Links, NCR 355,178 592,164 226 389 Godrej Aqua, Bangalore 386,897 386,897 197 197 Godrej Habitat, Gurgaon 306,220 306
Slide 23: Launch Tracker FY19
LAUNCH TRACKER FY19 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New project launches in FY19 New phase launches in FY19 Project City Launch Project City Launch Status Area* Status Area* Godrej Alive Mumbai 0.60 Solitair
Slide 24: Launch Tracker FY20
LAUNCH TRACKER FY20 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY20 New Project Launches Planned in FY20 Project City Launch Project City Launch Status Area* Status Area* Godrej Platinum
Slide 25: Construction Highlights
CONSTRUCTION HIGHLIGHTS Delivered 1.6 million sq. ft. across four cities The Trees Phase - 1, Vikhroli Godrej Oasis, NCR 0.50 million sq. ft. 0.50 million sq. ft. Godrej Azure, Chennai Godrej Prana, Pune 0.3 million sq. ft. 0.25 million sq. ft. 24 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 26: Awards and Recognitions
AWARDS AND RECOGNITIONS GPL received 22 awards in Q4 FY19 and 62 awards in FY19 GODREJ PROPERTIES 13th Global Communications Conclave organized by Public Relations Council Of India (PRCI) Silver for the Best Use of Media Relations Bronze for Unique HR Initiatives PROJECT & INDIVIDUAL AWARDS
Slide 27: Agenda
AGENDA Overview 01 FY19 Highlights 02 Q4 FY19 Operational Highlights 03 Q4 FY19 Financial Highlights Annexure 05 04 26 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 28: Consolidated Financial Statements – P&L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q4 FY2019 Q4 FY2018 % Change Q3 FY2019 % Change FY2019 FY2018 % Change Total Income 1,200 516 133% 506 137% 3,236 2,066 57% Adjusted EBITDA* 438 88 397% 178 147% 1003 434 131% EBITDA** 314 74 327% 94 234% 597 283 111% Profit before tax 2
Slide 29: Consolidated Financial Statements – BS
CONSOLIDATED FINANCIAL STATEMENTS – BS (INR Cr) Sr. No Particulars As on 31.03.2019 As on 31.03.2018 A Assets Audited Audited 1 Non Current assets a Property, plant & equipment 71.90 84.82 b Capital Work-in-Progress 98.77 71.37 c Investment Property 2.20 2.48 d Goodwill 0.04 0.04 e Other intangible
Slide 30: Consolidated Financial Statements – BS
CONSOLIDATED FINANCIAL STATEMENTS – BS (INR Cr) Sr. No Particulars As on 31.03.2019 As on 31.03.2018 B Equity and Liabilities Audited Audited 1 Equity a Equity share capital 114.66 108.24 b Other equity 2,354.35 1,102.16 Total Equity 2,469.01 1,210.40 2 Liabilities 2.1 Non Current Liabilities a Fina
Slide 31: Consolidated Financial Statements – Cashflow
CONSOLIDATED FINANCIAL STATEMENTS – CASHFLOW (INR Cr) Notes Particulars Q4 FY19 FY19 Operating cashflow Total operating cash inflow 1,225 4,382 A Operating cash outflow Construction and related outflow (470) (1,927) Other project related outflow (365) (1,276) Total operating cash outflow (835) (3,20
Slide 32: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators Particulars Q4 FY2019 Q4 FY2018 Q3 FY2019 FY2019 FY2018 Adjusted EBITDA / Total Income* 36.5% 17.1% 35.1% 31% 21% EBITDA / Total Income** 26.2% 14.3% 18.6% 18.4% 13.7% PBT Margin % 20.5% 5.5% 7.1% 10.8% 5.7% Net Profit Margin %# 13.0% 8.2% 8.2% 7.8% 4.2% *
Slide 33: Agenda
AGENDA Overview 01 FY19 Highlights 02 Q4 FY19 Operational Highlights 03 Q4 FY19 Financial Highlights 04 Annexure 05 32 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 34: A. Residential Projects
A. RESIDENTIAL PROJECTS S.No Project Name Location Asset Class Est. Saleable Ind AS Business Model Status Area (mn sq. ft.) Classification Phase I to IV: Area Based – 73.6% 1 Godrej Garden City* Ahmedabad Residential 14.80 Own Phase V : Revenue Based – 67.6% Ongoing Phase VI onwards - 17% of Revenue
Slide 35: A. Residential Projects
A. RESIDENTIAL PROJECTS S.No Project Name Location Asset Class Est. Saleable Ind AS Business Model Status Area (mn sq. ft.) Classification Area Based – 70% (for 12.57 acres), 18 Godrej Palm Grove Chennai Residential 1.93 Own 68% (for 4.82 acres) Ongoing 19 Godrej Azure Chennai Residential 0.70 JV Pr
Slide 36: A. Residential Projects
A. RESIDENTIAL PROJECTS S.No Project Name Location Asset Class Est. Saleable Ind AS Business Model Status Area (mn sq. ft.) Classification Godrej Emerald Revenue Based – 64% (GPL holds 20% Ongoing 33 Mumbai Residential 1.35 JV equity in the project specific company) 34 Godrej Park Mumbai Residential
Slide 37: A. Residential Projects
A. RESIDENTIAL PROJECTS S.No Project Name Location Asset Class Est. Saleable Ind AS Business Model Status Area (mn sq. ft.) Classification 49 Vashi Mumbai Residential 0.50 JV Profit Sharing – 50% Forthcoming GPL holds 20% equity in the project 50 Kavesar, Thane Mumbai Residential 0.7 JV specific com
Slide 38: B. Commercial Projects
B. COMMERCIAL PROJECTS S.No Project Name Location Asset Class Est. Saleable Ind AS Business Model Status Area (mn sq. ft.) Classification Phase I to IV: Area Based – 73.6% 1 Godrej Garden City* Ahmedabad Residential 2.40 Own Phase V : Revenue Based – 67.6% Ongoing Phase VI onwards - 17% of Revenue 2
Slide 39: Thank You
THANK YOU For further information, please contact: Rajendra Khetawat Godrej Properties Limited Tel: +91 22 6169 8500 Fax: +91 22 6169 8888 Email: rajendra@godrejproperties.com 38 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19