Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q4 FY2024 Earnings Presentation
50 slides from Prestige Estates Projects's earnings presentation, 2024
Slide 1: Investor Presentation Q4 & FY24
Prestige Group Investor Presentation Q4 & FY24 Prestige Skytech, Hyderabad www.prestigeconstructions.com
Slide 2: Agenda
Agenda 01 About Us 04 Financial Performance 07 Mumbai Projects 02 Scale of Operations 05 Debt Profile 08 Management Team 06 Business Segments 09 Annexures 03 Operational Update 2 www.prestigeconstructions.com
Slide 3: About us
About us Prestige Ocean Crest, Goa Artist’s Impression • 38 Years of Legacy RESIDENTIAL | COMMERCIAL • 13 Cities RETAIL | HOSPITALITY • DA1+ CRISIL Grading PROPERTY MANAGEMENT • ICRA A+ Stable Rating 3 www.prestigeconstructions.com
Slide 4: Scale Of Operations
Scale Of Operations 4 www.prestigeconstructions.com
Slide 5: Key Highlights
Key Highlights •Highest ever annual Sales of ₹21,040 Cr (Up by 63%). •Highest ever annual Collections of ₹11,954 Cr (Up by 22%). •Completed 300 Projects; Delivered 25 Mn sft of area in FY24. •Signed a deal with ADIA Kotak AIF for ₹2,001 Cr. •Acquired 62.5 Acres of Land at Indirapuram Extn NCR with a
Slide 6: Operational Performance FY24
Operational Performance FY24 Sales Collections Area Sold Units Sold 210,403 ₹Mn 119,544 ₹Mn 20.25 Mn sft 10,068 +63% YOY +22% YOY +34% YOY 28 Units / Day PG Share: 196,507 ₹Mn (66% YOY) PG Share: 110,694 ₹Mn (27% YOY) PG Share: 18.80 Mn Sft (39% YOY) Avg Realization psf: ₹10,410 Launches: 40.19 Mn S
Slide 7: Operational Performance Q4 FY24
Operational Performance Q4 FY24 Sales Collections Area Sold Units Sold 47,068 ₹Mn 34,741₹Mn 4.11 Mn sft 1,666 +21% YOY +26% YOY 19 Units / Day Avg Realization psf: ₹11,459 PG Share: 44,330 ₹Mn (20% YOY) PG Share: 32,967 ₹Mn (35% YOY) PG Share: 3.86 Mn sft (3% YOY) Launches: 9.35 Mn Sft (+78% YOY) Co
Slide 8: 5 Years Performance
5 Years Performance SALES Cr UNIT SALES # AVG. REALIZATION psf FILES 21,040 10068 10,410 9644 8883 8,812 7,515 12,931 6,748 6,689 10,382 4893 3424 4,377 5,461 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 COLLECTIONS PAGE VIEWS Cr CUMULATIVE COMPLETIONS MN SFT CAGR Growt
Slide 9: Launches
Launches Q4 Developable S.No Projects Launched Location Segment Area (Mnsf) No of Units 1 Prestige Somerville Bengaluru Residential 0.83 306 2 Prestige Tech Habitat Bengaluru Commercial 1.04 - 3 Prestige Capital Square Bengaluru Commercial 0.18 - 4 Prestige 1O1 (X) Mumbai Commercial 2.94 - Launches
Slide 10: Completions
Completions Q4 Developable No of Units S.No Projects Completed Location Segment Area (Mnsf) 1 Prestige Tranquil Hyderabad Residential 2.24 906 2 Prestige Windsor Park Chennai Residential 0.91 637 3 Prestige Finsbury Park- Regent Bengaluru Residential 1.81 958 4 Prestige Finsbury Park- Hyde Bengaluru
Slide 11: FY 24 Operational Analysis
FY 24 Operational Analysis FY24 Sales ₹ mn Pan India 210,403 % of QoQ Sales ₹ mn QoQ Collections ₹ mn Sales Bengaluru 122,407 (58%) 70,926 34,741 53,261 31,159 Mumbai 32,393(15%) 47,068 27,407 26,238 39,147 Hyderabad 50,634(24%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Kochi/ 2,453 (1.2%) Calicut Q4 Avg Realization
Slide 12: Top Sales Contributors
Top Sales Contributors – FY 24 ₹ mn 62,317 Top Sales Contributors 37,974 Prestige Park Grove Artist’s Impression 23,857 13,423 12,925 Prestige Park The Prestige City Prestige Lavender TPC Mulund Prestige Ocean Grove (Hyd) Fields Towers The Prestige City Hyderabad Artist’s Impression 12 www.prestigec
Slide 13: Financial Performance FY24
Financial Performance FY24 Revenue PAT ₹94,253 mn ₹16,282 mn +7.45% YoY +52.75% YoY EBITDA % ₹40,466 mn EBITDA 42.93% +59.1% YoY PAT 17.27% Above Items include gain of ₹8,512 mn recognised on acquisition of Prestige (BKC) Realtors Pvt Ltd & Turf Estate Joint Venture LLP www.prestigeconstructions.com
Slide 14: Financial Performance Q4 FY24
Financial Performance Q4 FY24 Revenue PAT ₹22,325 mn ₹2,361 mn -24.01% YoY -53.12% YoY EBITDA % ₹8,962 mn EBITDA 40.14% -9.29% YoY PAT 10.58% www.prestigeconstructions.com 14
Slide 15: Segment-wise Results & Capital Employed
Segment-wise Results & Capital Employed (in ₹Million) Others 12 Months FY 2023-24 Office Retail Hospitality Services Residential Total (Note 1) Revenue 2,980 2,506 7,899 9,491 51,057 4,838 78,771 EBITDA (excluding other income) 2,633 1,417 2,917 1,248 11,931 4,838 24,984 EBITDA % 88% 57% 37% 13% 23%
Slide 16: Segment-wise Results & Capital Employed
Segment-wise Results & Capital Employed (in ₹Million) 12 Months FY 2023-24 Office Retail Hospitality Services Residential Total Capital Employed Equity A 52,310 12,484 24,329 506 23,259 112,888 Debt (including ongoing capex) B 22,531 10,533 8,918 - 62,164 104,146 Debt taken for ongoing capex project
Slide 17: Debt Profile
Debt Profile As on March 31, 2024 Project Debt - Residential & Commercial for sales Office Space Retail Net Debt Hospitality ₹ 77,880 mn Lease Rental Discounting Debt Equity Ratio 0.66 14% *Adjusted Net Debt 8.60% ₹ 69,468 mn 0.4% Adjusted Debt Equity Ratio 14% 0.59 63% Avg. Borrowing Cost 10.69% ww
Slide 18: Business Segments
Business Segments Residential Commercial Retail Hospitality Property Management www.prestigeconstructions.com 18
Slide 19: Residential
Residential Apartments Villas Plotted Development Integrated Townships | Prestige City Format Prestige Ocean Towers, Mumbai Shot at Artist’s Impression 19 www.prestigeconstructions.com
Slide 20: Residential Portfolio
Residential Portfolio STOCK BREAKUP Category Area Value(Mn) COMPLETED ONGOING UPCOMING Ongoing-Premium & Luxury Projects 1.849 53,582 Ongoing-Mid Income Projects 8.094 68,812 • 150 PROJECTS • 37 PROJECTS • 30 PROJECTS Ongoing Commercial Projects 0.405 4,054 • 127 MN SFT • 65 MN SFT • 75 MN SFT Compl
Slide 21: Ongoing Residential
Bengaluru Hyderabad 1 Prestige White Meadows T3 0.50 100% 0.50 FY 25 Ongoing Residential 2 Prestige Primrose Hills 2.00 68% 1.36 FY 25 1 Prestige Beverly Hills 2.30 73% 1.68 FY 25 3 Prestige Waterford 1.75 60% 1.05 FY 25 2 Prestige Clairemont 3.29 100% 3.29 FY 27 37 65 4 Aspen Greens @ TPC 0.50 60%
Slide 22: Upcoming Residential
Bengaluru Upcoming Residential 30 75 1 Prestige Countydale 0.24 100% 0.24 FY 25 Hyderabad 2 Prestige Southern Star 8.50 48% 4.08 FY 25 Projects mn sft 3 Prestige Park Ridge 2.43 69% 1.67 FY 25 4 Prestige Raintree Park 4.58 100% 4.58 FY 25 1 Prestige Rock Cliff 0.68 55% 0.37 FY 25 5 Prestige Pine For
Slide 23: GDV of Projects Expected to Launch in FY 2025
GDV of Projects Expected to Launch in the FY 2025 Sl No Project Name Location * TDA (Mnsft) GDV ₹Mn 1 Prestige Southern Star Bengaluru 8.50 61,071 2 Prestige Raintree Park Bengaluru 4.58 46,587 3 Prestige Pine Forest Bengaluru 1.22 11,220 4 Prestige Falcon City Luxe Bengaluru 4.21 43,570 5 Prestige
Slide 24: Commercial
Commercial IT Parks Corporate Offices SEZs Prestige BKC 101, Mumbai Artist’s Impression 24 www.prestigeconstructions.com
Slide 25: Commercial Segment
Commercial Segment COMPLETED ONGOING UPCOMING TENANTS WORKFORCE • 125 PROJECTS • 12 PROJECTS • 7 PROJECTS • 400+ • 450,000 • 49 MN SFT • 23 MN SFT • 8 MN SFT EXIT RENTALS PROJECTED ANNUITY INCOME STEP UP (₹ mn) 33,498 PG Share ₹5,189 mn 22,237 ANNUITY INCOME FY28 9,081 7,160 ₹ 33,498 mn FY25 FY26 FY
Slide 26: Ongoing Commercial
Bengaluru Ongoing Commercial 12 23 1 Prestige Tech Hub 1.33 60% 0.80 FY 26 2 Prestige Tech Habitat 1.04 74% 0.77 FY 27 Projects mn sft 3 Prestige Lake Shore Drive Ph I 4.02 40% 1.61 FY 25 4 Prestige Tech Forest 3.73 68% 2.54 FY 27 5 Prestige Waterfront 0.54 60% 0.32 FY 26 6 13° North Commercial 0.14
Slide 27: Upcoming Commercial
Upcoming Commercial 7 Projects 8 mn sft Bengaluru 1 Prestige Tech Park V 0.14 100% 0.14 FY 25 2 Prestige Landmark 2.92 50% 1.46 FY 25 3 Prestige JRC Signature Tower 0.28 100% 0.28 FY 25 Total 3.34 1.88 Kolar 1 Shipco (Warehousing) 2.05 70% 1.44 FY 25 Total 2.05 1.44 Kochi 1 Prestige Cyber Green- Pha
Slide 28: Commercial Capex and Balance to Spend
Commercial Capex and Balance to Spend BALANCE TO SPEND Balance Balance COC PARTICULARS Total COC COC (PG) (PG SHARE) COC (PG) 450, ONGOING COMMERICAL 000 Ongoing Commercial Capex 1,17,679 1,08,586 88,418 83,429 ₹83,429 mn UPCOMING COMMERICAL Upcoming Commercial 21,903 20,673 21,470 20,259 ₹20,259 mn
Slide 29: Retail
Retail Shopping Malls Multiplexes High Street Luxury Retail The Collection@ UB City, Bengaluru Shot at Location Centre for Performing Arts 29 www.prestigeconstructions.com
Slide 30: Retail Segment
Retail Segment COMPLETED ONGOING UPCOMING • 13 PROJECTS • 1 PROJECT • 6 PROJECTS • 10 MN SFT • 1 MN SFT • 6 MN SFT 5,842 PROJECTED ANNUITY INCOME STEP UP (₹ mn) PG Share 4,760 EXIT RENTALS ₹2,179 mn 2,179 2,179 ANNUITY INCOME FY28 ₹ 5,842 mn FY25 FY26 FY27 FY28 30 www.prestigeconstructions.com
Slide 31: Ongoing Retail Upcoming Retail
Ongoing Retail 1 Project 1.13 mn sft Bengaluru Upcoming Retail 1 Forum 13o North 1.13 100% 1.13 FY 27 Total 1.13 1.13 6 Projects 5.99 mn sft Bengaluru | Hyderabad | Chennai | Kochi 1 Forum One OMR 1.79 85% 1.52 FY 25 2 Forum Neighbourhood Mall 0.69 100% 0.69 FY 26 3 Forum TPC Bengaluru 1.27 60% 0.76
Slide 32: Retail Capex & Balance to Spend
Retail Capex & Balance to Spend BALANCE TO SPEND Balance Balance COC (PG SHARE) PARTICULARS Total COC COC (PG) 450, COC (PG) ONGOING RETAIL 000 Ongoing Retail Capex 3,619 3,619 2,613 2,613 ₹2,613 mn UPCOMING RETAIL Upcoming Retail Capex 20,588 13,855 20,479 13,781 ₹13,781 mn TOTAL Total Capex ₹16,39
Slide 33: Hospitality
Hospitality Resorts Business Hotels Service Apartments Convention Centers JW Marriott Bengaluru Prestige Golfshire Resort & Spa 33 Shot at Location www.prestigeconstructions.com
Slide 34: Hospitality Portfolio (3209 Keys)
Hospitality Portfolio (3209 Keys) OPERATING ONGOING UPCOMING • 10 Hotels • 3 Hotels • 5 Hotels • 1489 KEYS • 955 KEYS • 765 KEYS 301 KEYS, BENGALURU 285 KEYS, BENGALURU 189 KEYS, Aerocity NEW DELHI 360 KEYS, BENGALURU 200 KEYS, MUMBAI (BKC) 200 KEYS, SAKLESHPUR 590 KEYS, Aerocity NEW DELHI 102 KEYS
Slide 35: Operating Hotel Performance
Operating Hotel Performance 14071 13866 ARR ₹ 12329 RevPAR ₹ 9428 8541 7098 Q4 24 Q3 24 Q4 23 35 Hotels with 12 months operations included www.prestigeconstructions.com
Slide 36: Hospitality Revenue Potential (3209 Keys)
Hospitality Revenue Potential (3209 Keys) OPERATING ONGOING UPCOMING • 10 Hotels • 3 Hotels • 5 Hotels • 1489 KEYS • 955 KEYS • 765 KEYS OPERATING UNDER CONSTRUCTION UPCOMING TOTAL Total Keys 1,489 955 765 3,209 Keys (PG Share) 1,439 566 571 2,575 Total Revenue p.a. 10,013 8,220 7,468 25,701 Revenue
Slide 37: Hospitality Capex and Balance to Spend
Hospitality Capex and Balance to Spend BALANCE TO SPEND Balance Balance COC (PG SHARE) PARTICULARS Total COC COC (PG) 450, COC (PG) ONGOING HOSPITALITY Ongoing Hospitality 000 Capex 20,466 11,416 13,114 7,740 ₹7,740 mn UPCOMING HOSPITALITY Upcoming Hospitality ₹11,383 mn Capex 14,169 11,398 14,139 1
Slide 38: Property Management
Property Management Housekeeping Security Training Safety Landscaping Property Upkeep Community 185 95 Projects Under Maintenance Projects in Pipeline. 120 mn sft 150 mn sft Prestige Leela Residences, Bengaluru ₹7066 mn ₹10,000 Shot at Location FY24 Gross Revenue Future Potential 38
Slide 39: Cashflows Q4 & FY24
Cashflows Q4 & FY24 ₹ Mn Q4 FY24 FY 24 OPERATIONAL ACTIVITIES Inflow Residential Collection/ Commercial & Retail Rentals / Property Maintenance / Mall Operations/ Others 40,921 137,607 Outflow Construction Cost- Development Business 12,960 49,372 LO Payments /Sales/ Marketing / Admin Overheads & Tax
Slide 40: Mumbai Portfolio
A THE PRESTIGE CITY MULUND Mulund B PRESTIGE DAFFODILS Pali Hill A C JIJAMATA NAGAR Worli D PRESTIGE JASDAN CLASSIC Mahalaxmi E PRESTIGE OCEAN TOWERS B G Marine Lines F PRESTIGE NAUTILUS Worli F C G PRESTIGE 1O1 BKC H D Residential BKC H THE PRESTIGE (LIBERTY TOWERS) E Commercial Mahalaxmi Mumbai Po
Slide 41: Residential – Mumbai
Residential – Mumbai PEPL Share of Sales Expected Selling S.No. Project Carpet Area Mn sf Total Sale value In Mn PG % Value Price In Mn Ongoing Residential 1 Prestige Jasdan Classic 0.33 46,140 15,000 100 15,000 The Prestige City Mulund Bellanza + 2 2.13 22,228 47,433 100 47,433 Siesta 3 Prestige Da
Slide 42: Commercial – Mumbai
Commercial – Mumbai S.No. Project Total Leasable Expected Selling Total Sale value PG % PEPL Share of Projected PEPL Projected Area Mn sf Price* In Mn Sales Value Rent/Sf Rental PA (in case of In Mn leasing) In Mn Ongoing Commercial 1 The Prestige (Liberty Towers) 3.01 45,882 138,111 90% 124,300 325
Slide 43: Land Bank
Land Bank Land Area Economic Prestige Share S.No. Entity Name Location (Acres) Interest (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi, Bengaluru 183 100% 183 2 Prestige Estates Projects Ltd Perumbakam, Chennai 20 66% 13 3 The QS Company Padil Mangaluru 21 100% 21 4 Prestige Warehousing And Cold
Slide 44: Board of Directors
Board of Directors Irfan Razack Dr. Rezwan Razack Noaman Razack Chairman and Managing Director Joint Managing Director Whole-time Director Uzma Irfan Dr. Pangal Ranganath Nayak Jagdeesh K. Reddy S.N. Nagendra Neelam Chhiber Dr. Ravindra M Mehta Director Independent Director Independent Director Inde
Slide 45: Leadership Team
Leadership Team Nawabzada Omer Bin Jung Anjum Jung Zackria Hashim Mohmed Zaid Sadiq Executive Director- Hospitality Executive Director- Executive Director- Land Acquisition Executive Director- Liaison and Hospitality Interior Designs Faiz Rezwan Zayd Noaman Sana Rezwan Nayeem Noor T. Arvind Pai Exec
Slide 46: Leadership Team
Leadership Team V. Gopal Swaroop Anish Suresh Singaravelu Jagdeep Singh Marwaha Lt Col. Milan Khurana (Retd.) Executive Director- Projects and Executive Director & CEO Residential Executive Director & CEO Hospitality CEO- Prestige Office Ventures Executive Director- HR, IT Planning Segment & Busines
Slide 47: Annexures
ANNEXURES 47 www.prestigeconstructions.com
Slide 48: Exit Rentals – Commercial
EXIT RENTALS – COMMERCIAL Economic Interest Economic Interest Rent P.A S.No. Project Name Total Leasable Area (%) (MnSf) (Annualised) (Rs Mn) 1 Prestige Logistic Centre 0.39 100 0.39 89 2 Prestige Polygon 0.33 100 0.33 336 3 West Palm Developers Pvt Ltd 0.32 61 0.20 256 4 SKN Commercial 0.13 100 0.1
Slide 49: Exit Rentals - Retail
EXIT RENTALS - RETAIL Rent P.A Economic Interest Economic Interest S.No. Project Name Total Leasable Area (Annualised) (Rs (%) (MnSf) Mn) 1 UB City Retail 0.10 45 0.05 148 2 Prestige Mysore Central 0.08 65 0.05 23 3 Forum Rex Walk 0.16 34 0.05 128 4 Forum Falcon City Mall 0.95 66 0.62 974 5 Forum Th
Slide 50: Residential Projects Free Cashflows
RESIDENTIALPROJECTS FREECASHFLOWS Ongoing+ Completed Projects Upcoming Projects Particulars Area in Mn Sft Value in ₹ Mn Particulars Area in Mn Sft Value in ₹ Mn Total Developable Area 100.96 Common Area/ Car Park Area 27.70 Total Developable Area 74.63 Net Saleable Area 73.26 Common Area/ Car Park
Prestige Estates Projects — Q4 FY2024 Earnings Presentation on 6ix