Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Q2 FY2025 Earnings Presentation
41 slides from Mahindra Lifespace Developers's earnings presentation, Oct 25, 2024
Slide 1: Exchange intimation letter for investor presentation
October 25, 2024 To, BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai 400051 Listing: http://listing.bseindia.com Listing: https://neaps.nseindia.com/NEWLISTIN
Slide 2: Exchange intimation letter (continued)
financial & operational results for the second quarter and half year ended on September 30, 2024. The same in also uploaded on the website of the Company at https://www.mahindralifespaces.com/investor-center/?category=investor-presentation. Yours faithfully, For Mahindra Lifespace Developers Limited
Slide 3: Investor Presentation Q2 FY2025
Lakefront Estates, Chennai Investor Presentation Q2 FY2025 TNRERA No:TN/01/Layout/2235/2023 Actual Image0
Slide 4: Disclaimer
DISCLAIMER This presentation and the accompanying slides ("Presentation") have been prepared by “Mahindra Lifespace Developers Limited” ("Company"), solely for the purpose of information and do not constitute any offer, recommendation or invitation to purchase or subscribe to any securities and shal
Slide 5: MLDL Overview
Aqualilly, Chennai MLDL Overview TNRERA No: TN/01/Building/0174/2022 Actual Image2
Slide 6: The Mahindra Group
THE MAHINDRA GROUP $ $23B+ 260,000+ 100+ 20+ GROUP TURNOVER EMPLOYEES COUNTRIES INDUSTRIES India’s number 1 SUV manufacturer by revenue Pioneering IC&IC business and residential market share; strong pipeline of EV products developments World’s largest tractor company by volume Number 1 timeshare com
Slide 7: Mahindra Group created significant value in the last two decades; MLDL a key priority
Mahindra Group created significant value in the last two decades; MLDL a key priority for the Group +94 Market cap of M&M Limited (Rs. K Cr) 238 Mahindra Lifespaces is identified as +45 a Growth Gem by Mahindra Group +57 Mahindra Group fully committed to 144 support MLDL’s growth aspirations +42 100
Slide 8: MLDL at a Glance
MLDL AT A GLANCE Rs 8,318 Cr Market Cap as on 30th Sep’24 Residential Business IC&IC Business 50+ projects since 1996 (38.49 msft); 18K 2 World Cities, 3 Industrial parks; satisfied customers Industrial Developer since 1994 Strategic partnerships with Actis and Strategic partnerships with TIIDCO, HD
Slide 9: Our Journey So Far
OUR JOURNEY SO FAR All figures are in Rs. Cr Total Sales Gross Development Value 4,400 2,698 778 991 FY20 FY24 FY20 FY24 Free Cash Flow Net Debt 639 610 640 163 FY20 FY24 FY20 FY24 6
Slide 10: Key Industry Drivers
KEY INDUSTRY DRIVERS Increasing urbanization… …Household income… Low Lower Mid Upper Mid High 3% 7% 40% 21% 31% 44% Lower Mid and 33% Upper Mid Segment to increase from 34% ~54% to ~78% 43% 15% CY11 CY30 CY18 CY30F Avg. HH Income/ per cap ~7.5 L / 1.4 L ~15 L / 3.5 L …& Regulatory reforms… …Have led
Slide 11: Stock Performance and Drivers
STOCK PERFORMANCE AND DRIVERS Stock generated 70% CAGR over the past 4 years Shareholding Pattern (%) BSE SENSEX BSE REALTY MAHLIFE Mahindra Group 19.7% 6.9x FII 5.1x 51.2% 19.4% MF 2.2x 9.8% Others 30-Sep-20 30-Sep-21 30-Sep-22 30-Sep-23 30-Sep-24 Key Drivers Key Institutional Investors Scale-up in
Slide 12: Accolades
ACCOLADES We have been recognized in many areas i.e., Home-Buying Experience, and Technology-led Campaigns Construction Excellence Sustainability Real estate Company of the year – West Carbon Disclosure 2024 - ‘Platinum’ rating Decarbonization Project 2022, 2023 & under IGBC Green Townships Excellen
Slide 13: Growth Strategy
GROWTH STRATEGY Bold ambition Drive profitable growth to 8K - 10K Cr sales by 2028 Leader in customer centricity 1 Well-engineered portfolio choices Clearly articulate “where to play” choices capturing - Geography, Customer segments, Products, Project size, 2 Robust acquisition engine Systematically
Slide 14: Our Growth Aspiration: Rs 8-10K Cr
OUR GROWTH ASPIRATION: Rs 8 – 10K Cr Rs. 8,000 -10,000 Cr Residential + IC & IC Rs. 2,698 Cr Rs. 778 Cr 2020 2024 2028E KEY PRIORITIES Residential IC & IC Rs 45000 Cr “WOW” Planned Accelerated Unlocking BTS scale-up (~$5.4bn) of customer funding of Rs leasing value from cumulative experience 7000 Cr
Slide 15: High Visibility to Our Resi Growth Plan
HIGH VISIBILITY TO OUR RESI GROWTH PLAN Potential GDV (Rs Cr) New Projects (Recent Future Phases of Strategic Current Total Potential Sales GDV Additions) (A) Current Projects (B) Projects (C) Inventory (D) (A+B+C+D) • New Project (Whitefield, • Vista Ph 2 (1500) • Thane (7000-8000) • Codename Crown
Slide 16: MLDL Residential
Codename Greenlife, MMR MLDL Residential RERA Reg No: P51700076963 Artist’s Impression 13
Slide 17: Residential – Structure Overview
RESIDENTIAL – STRUCTURE OVERVIEW M&M 51% MLDL 100% 73.7% 51% 89% MBDL MHPL MHDL MWCDL* Lakewoods Bloomdale Luminare Happinest Palghar Happinest MWCC Nestalgia Happinest Kalyan Aqualily Lakefront Estates 26.3% 49% 11% Actis HDFC Capital TIDCO Note: Includes assets owning SPVs only. Shareholding %ages
Slide 18: Residential – Q2 & H1 FY25 Operational Highlights
RESIDENTIAL – Q2 & H1 FY25 OPERATIONAL HIGHLIGHTS 0.53 msft 1.70 msft Sales Volume 0.42 msft Sales Volume 0.69 msft (RERA Carpet Area: Launches (RERA Carpet Area: Launches 0.42 msft) 1.29 msft) 0.56 msft 0.56 msft Rs. 397 Cr Q2 NilCompletions Rs. 1,415 Cr H1 0.10 msft Completions Sales Value FY25 Co
Slide 19: Residential - Quarterly Trend
RESIDENTIAL - QUARTERLY TREND Pre-Sales Value (Rs. Cr) Pre-Sales Volume (msft) Collections (Rs. Cr) Construction Outflow (Rs. Cr) 540 1,086 459 1019 412 386 311 0.85 1.17 455 443 397 188 113 100 117 74 0.68 0.53 0.53 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Lau
Slide 20: Residential - Scale of Operations
RESIDENTIAL - SCALE OF OPERATIONS MLDL is pioneering development of green homes and thoughtfully designed living spaces Total Premium Residential Value Homes Total Total Development 32.77 msft 5.72 msft 38.49 msft Footprint Completed 19.20 msft 2.04 msft 21.24 msft Development Ongoing 13.57 msft 3.6
Slide 21: Residential - Premium Portfolio
RESIDENTIAL - PREMIUM PORTFOLIO Ongoing Projects: City / Project Completed Ongoing Area Sales Value Completion Future Total Development Location Name Development Development (A) Sold (Rs. Cr) % Development (B) (A+B) Vista - 0.79 0.72 1070 35% 0.89 1.69 Vicino 0.18 0.09 0.09 161 97% - 0.09 MMR Alcove
Slide 22: Residential – Value Homes Portfolio
RESIDENTIAL – VALUE HOMES PORTFOLIO Ongoing Projects: City / Project Completed Ongoing Area Sales Value Completion Future Total Development Location Name Development Development (A) Sold (Rs. Cr) % Development (B) (A+B) Happinest Palghar2 Ph2 - 0.36 0.20 58 48% - 0.36 MMR Happinest Kalyan1 0.34 0.50
Slide 23: Residential - Sustainable Future Cash Flows
RESIDENTIAL - SUSTAINABLE FUTURE CASH FLOWS Estimated Cash Flows (Rs. Cr) Ready to move Ongoing Projects (incl. Future Phases of Current New Projects (Recent Estimated Inventory Current Inventory) Projects GDV Additions) Cashflow Sold Units / Estimated Sales^ 92 8,431 4,164 5,604 18,291 (-) Amount a
Slide 24: MLDL IC & IC
Mahindra World City, Chennai MLDL IC & IC 21 Actual Image
Slide 25: IC & IC - Structure Overview
IC & IC - STRUCTURE OVERVIEW M&M 51% MLDL 100% 74% 89% 100% KTL MWCJL* MWCDL MIPCL MIPPL* 60% Origins Pune MWC Jaipur MWC Chennai Origins Chennai Origins Ahmedabad 26% 11% 40% RIICO TIDCO Sumitomo Note: Overview includes assets owning SPVs only. Shareholding %ages are rounded to nearest %age and bas
Slide 26: IC & IC - Operational
IC & IC - OPERATIONAL Q2 FY2025 H1 FY2025 16.1 acres leased to 6 customers for Rs. 87.1 Cr: 34.9 acres leased to 13 customers for Rs. 163.2 Cr: MWC Jaipur: Leased 16.1 acres to 6 customers for Rs. 63.0 Cr MWC Jaipur: Leased 29.3 acres to 12 customers for Rs. 112.4 Cr MWC Chennai: Other operati
Slide 27: IC & IC - Scale of Operations
IC & IC - SCALE OF OPERATIONS Pioneer in this business with pan India presence across Golden Quadrilateral and Delhi-Mumbai Industrial Corridor Integrated Cities Industrial Clusters MWC MWC Origins Origins Chennai Jaipur Chennai Ahmedabad Distance Distance 60 Km 20 Km 35 Km 75 Km to City to City Par
Slide 28: IC & IC – Leased Area
IC & IC – LEASED AREA MWC, Chennai Origins, Chennai Leasable Area*: 1146 acres Unleased Inventory: 75 acres 307 Gross Area 229 Leasable Area* 1,071 Leased Area 157 48 19 75 8 Leased Unleased MWC Residential DTA MWC Commercial Acres MWC, Jaipur Origins, Ahmedabad Leasable Area*: 1917 acres Unleased I
Slide 29: IC & IC – Key Metrics
IC & IC – KEY METRICS Leased Area (Acres) Park O&M, MWC Chennai (Rs. Cr) 157.9 110.6 74.3 111.1 23.4 23.3 23.9 22.1 23.9 29.2 17.4 16.7 18.3 17.7 16.4 39.6 46.4 95 71.4 76.1 15.4 15.1 23.3 28.8 1.2 2.2 15.6 12.2 5.8 FY20* FY21* FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 MWC Chennai MWC Jaipur Origins C
Slide 30: IC & IC - Marquee Clientele
IC & IC - MARQUEE CLIENTELE MWC Chennai MWC Jaipur 90 customers (65 operational) 147 customers (89 operational) Central Avenue DTA Zone Origins Chennai Origins Ahmedabad 15 customers (6 operational) NH Access Planned Planned Construction Construction 27
Slide 31: Land Inventory - Assets with Deep Value
LAND INVENTORY - ASSETS WITH DEEP VALUE Land Name Location Gross Area (acres) Development Plan # Land conveyance completed. Thane (Ghodbundar Road) MMR 68 Planned as mixed-use development. Murud, Raigad MMR 1,291 Under study & evaluation stage. Planned to be developed as Origins, Pune. OP (Origins P
Slide 32: MLDL Financials
Green Estates, Chennai MLDL Financials TNRERA No:TN/35/Layout/0556/2024 29
Slide 33: Financial – Highlights
FINANCIAL – HIGHLIGHTS (Rs. Cr, unless specified) Sales Residential Leasing Revenue GDV H1 FY25 – Rs 1415 Cr H1 FY25 – Rs 163Cr H1 FY25 – Rs 2050 Cr Q2 FY25 - Rs 397 Cr Q2 FY25 - Rs 87 Cr Q2 FY25 - Rs 650 Cr (H1 FY24 – Rs 800 Cr (H1 FY24 – Rs 47 Cr (H1 FY24 – Rs 960 Cr Q2 FY24 – Rs 455 Cr) Q2 FY24 –
Slide 34: Financials - Consolidated Profit & Loss A/C
FINANCIALS - CONSOLIDATED PROFIT & LOSS A/C (Rs. Cr, unless specified) PROFIT & LOSS STATEMENT H1 FY25 Q2 FY25 Q1 FY25 H1 FY24 Q2 FY24 Income from Operations 195.8 7.6 188.1 115.8 17.8 Other Income 26.9 8.4 18.6 19.9 7.9 Total Revenues 222.7 16.0 206.7 135.8 25.7 Operating Expenses 175.9 2.5 173.4 1
Slide 35: Financials - Consolidated Balance Sheet
FINANCIALS - CONSOLIDATED BALANCE SHEET (Rs. Cr, unless specified) EQUITY & LIABILITIES Q2 FY25 FY24 ASSETS Q2 FY25 FY24 Equity Share Capital 155 155 Property, Plant and Equipment 18 20 Other Equity 1,677 1,718 Right of Use Assets 5 4 Net Worth 1,832 1,873 Capital Work-In-Progress 3 5 Non-Controllin
Slide 36: Financials - Segment Performance
FINANCIALS - SEGMENT PERFORMANCE (Rs. Cr, unless specified) Residential IC & IC SEGMENT RESULTS Q2 FY25 H1 FY25 Q2 FY25 H1 FY25 Area Sold (msft) / Land Leased (acres) 0.53 msft 1.70 msft 16.14 acres 34.91 acres Sales / Lease Income 397 1415 87 163 Income from Operations 24 252 107 203 Other Income 2
Slide 37: MLDL Leadership
Zen, Bengaluru MLDL Leadership RERA No.: PRM/KA/RERA/1251/310/PR/210324/006712 Artist’s Impression 34
Slide 38: MLDL Leadership | Directors
MLDL LEADERSHIP | DIRECTORS Mr. Ameet Hariani Dr. Anish Shah Mr. Anuj Puri Ms. Amrita Chowdhury Chairman and Non-Executive, Non-Executive, Non-Executive, Non-Executive, Non-Independent Director Independent Director Independent Director Independent Director • Chartered Accountant and Fellow of the •
Slide 39: MLDL Leadership | Management
MLDL LEADERSHIP | MANAGEMENT Avinash Bapat Abhimanyu Mathur Jitesh Donga Chief Financial Chief Marketing Chief of Design Officer Officer Ameet Hariani Non-Executive Chairman Parveen Mahtani Sudharshan KR Tanmoy Roy Chief Legal Officer Chief Project Chief People Officer Officer Vimalendra Singh Chief
Slide 40: Thank You
Thank You Investor Relations Contact Mr. Sriram Kumar Vice President – FP&A, Costing & IR Email: KUMAR.SRIRAM@mahindra.com Mahindra Lifespace Developers Limited CIN L45200MH1999PLC118949 5th Floor, Mahindra Towers, Worli, Mumbai - 400 018. Tel: 022 6747 8600/ 6747 8601 | Fax: 022 2497 5084 For more
Slide 41: Classification of projects
Classification of projects is as under: a. Completed: projects where b. Ongoing: projects where (i) all c. Future Phases: projects in respect of d. Land inventory: land in which any construction has been title or development rights, or which (i) all title or development rights of the Company/subsidi
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