Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Investor Presentation (September 2010)
36 slides from Mahindra Lifespace Developers's investor presentation, Sep 30, 2010
Slide 1: Investor Presentation
Investor Presentation Updated as of 30th September 2010
Slide 2: Disclaimer
Disclaimer This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Develo
Slide 3: Outline
Outline About us Ownership and Financials Real Estate Projects Integrated Business Cities The Way Forward Summary 3
Slide 4: About Us
About Us 4
Slide 5: Our Lineage
Our Lineage Two Farm Automotive USD 7.1bn group Wheelers Equipment 65 years of history M&M a founding component of SENSEX Financial Mahindra Services Partners Unlocking synergies across sectors Real Estate & Group values Infrastructure Information Good Corporate Hospitality Citizenship Technology Pr
Slide 6: Our Businesses
Our Businesses Mahindra Real Estate Sector Residential and Commercial Integrated Business Cities developments Pioneers of large-format Pan-India Presence developments containing SEZs, Industrial Parks and Social Healthy Living Spaces Infrastructure
Slide 7: Our Credentials
Our Credentials We inherit and uphold We are the first to Transparent business practices Build pre-certified green homes Strong corporate governance Realize an Integrated Business Absolute customer focus City in a public-private partnership Listed on BSE and NSE since 2000 20 mn fort
Slide 8: Creating Sustainable Urban Communities
Creating Sustainable Urban Communities First residential developer in India to launch and build green-certified homes 3 Platinum & 2 Gold IGBC pre-certified residential projects Economic, Social, and Environmental sustainability at World Cities Manifold direct and indirect job creation Ext
Slide 9: Ownership and Financials
Ownership and Financials 9
Slide 10: Shareholding Pattern
Shareholding Pattern FIIs HSBC Global Investment Swiss Financial Corporation FIIs CAAM Funds India 22% Oppenheimer International Small Company Fund Parent Domestic funds Domestic (M&M) Financial State Bank of India 51% Institutions SBI Infrastructure Fund 11% Life Insurance Corpora
Slide 11: Business Model
Business Model Balancing end-to-end presence with focus on adding value Master Design Service Partners Government planners consultants Contractors providers Land Concept Project Facility MLDL acquisition development Approvals management Marketing management Verticals Revenue streams • Real estate •
Slide 12: Financials – Standalone
Financials – Standalone 5000 1600 EBITDA CAGR = 48% ` millions ` millions Income growing at a CAGR of 30% 1400 PAT CAGR = 64% 4000 3,496 1200 EBITDA PAT 1,142 3000 1000 794 800 2000 600 400 1000 200 0 0 FY06 FY07 FY08 FY09 FY10 FY06 FY07 FY08 FY09 FY10 Earnings per share: ` 19.15 in FY10 (+73% YoY
Slide 13: Financials – Consolidated
Financials – Consolidated 5000 1600 EBITDA CAGR = 35% ` millions ` millions Income growing at a CAGR of 19% 4,400 1,392 1400 PAT CAGR = 48% 4000 1200 EBITDA PAT 3000 1000 785 800 2000 600 400 1000 200 0 0 FY06 FY07 FY08 FY09 FY10 FY06 FY07 FY08 FY09 FY10 Earnings per share: ` 18.93 in FY10 (+20% Y
Slide 14: FY11 H1 Results – Standalone
FY11 H1 Results – Standalone 2000 1,732 ` millions Total income 1800 +35% EBITDA 1600 PAT 1400 1200 1000 559 800 +32% 600 391 +41% 400 200 Ongoing Projects Mumbai, Pune, NCR, Chennai 0 H1 FY10 H1 FY11 Earnings per share: ` 9.59 in H1 (+41% YoY) Sale of residential units (MLDL + subsidiaries) in
Slide 15: Stock Price Movement
Stock Price Movement MLDL (BSE) BSE Sensex BSE Realty Oct '09 Dec '09 Feb '10 Apr '10 Jun '10 Aug '10 Outperformed major indices and competition over last 12 months 15
Slide 16: Real Estate Projects
Pee » Real Estate Projects 16
Slide 17: Approach to Real Estate Development
Approach to Real Estate Development Customer Centric approach Healthy Spaces. Healthy Living Transparent customer interface Robust Corporate Governance Pan-India but focused cities Residential focus; Premium and Mid-market segments 17
Slide 18: Real Estate JVs
Real Estate JVs 51% M&M MLDL TIDCO 74% ARCH Capital 11% 49% 83% 26% 51% MWCDL MITL MRDL 70% 6% 30% MBDL B E Bilimoria Mahindra Group Currently 3 Residential Subsidiaries MRDL – operational; 1.52 mn sq.ft. DFP MITL – to be operational soon; 11.80 mn sq.ft DFP MBDL – to be operational soon; 1.
Slide 19: Projects Snapshot
Projects Snapshot Location Completed Ongoing Forthcoming Land bank Chennai 0.59 0.37 1.95 11.00 Mumbai 2.72 1.10 0.55 0.59 Pune 1.23 0.33 - 2.10 NCR 1.29 0.89 0.70 - Nagpur - - 1.33 - Hyderabad - - - 1.00 Nasik - - - 0.60 Bangalore 0.05 - - - Category Total 5.88 2.69 4.43 15.39 All areas in mn sq.ft
Slide 20: Ongoing Projects Status
Ongoing Projects Status Last Selling Total Launch % sold Completion Location Project Name Company Basic Price date mn sq.ft units (area) date (`/sq.ft) Mumbai Splendour Phase 1 MLDL Q4 FY08 7,300 0.416 264 99% Jun 2011 Splendour Phase 2 MLDL Q4 FY10 7,600 0.385 246 53% Jun 2012 Eminente Phase 2 MLDL
Slide 21: Forthcoming Projects and Land Bank
Forthcoming Projects and Land Bank Location Project Company DFP (mn sq.ft) Mumbai Ghatkopar Project MLDL 0.20 GE Garden* (R&C) MLDL 0.25 Forthcoming NCR Aura subsequent phases MLDL 0.70 projects Chennai Aqualily subsequent phases MRDL 1.15 Iris Court MITL 0.80 Nagpur MIHAN Project MBDL 1.33 Total fo
Slide 22: Integrated Business Cities
Integrated Business Cities Chennai | Jaipur 22
Slide 23: Mahindra World City
Mahindra World City Preferred partner of state governments MLDL Mahindra Group 74% 83% 6% RIICO TIDCO 26% 11% MWCJL MWCDL Two operational, Integrated Business Cities (IBCs) spread over 4,600 acres Fully integrated “Work, Live, Learn, Play” communities – industrial, residential, social and educat
Slide 24: MWC Chennai
MWC Chennai India’s first Integrated Business City in PPP mode Spread over 1,550 acres Three SEZs (IT/ITES, Apparel and Auto Ancillaries) and a Domestic Tariff Area (DTA) 325 acre Integrated Township area Award-winning master plan by Jurong and HOK Infosys – IT SEZ, MWC Chennai 24
Slide 25: MWC Chennai – Area Statement
MWC Chennai – Area Statement Apparel & Fashion Accessories SEZ IT SEZ PA 90 acres (100 % leased) 52 acres (100% leased) 284 acres (100% leased) Auto ancillary SEZ Land for infrastructure and common areas 330 acres IT SEZ NPA 247 acres (100% leased) 59 acres (11% leased) DTA non-industrial DTA indust
Slide 26: MWC Chennai – Customers
MWC Chennai – Customers IT SEZ Sundram Fasteners DTA Netafim Infosys Technologies Armstrong Timken Engineering Parker Hannifin Mind Tree* B. Braun Medical UCAL Fuel Systems Sharda Motor Industries Renault Nissan* BMW India Shell Tech Mahindra* Apparel SEZ CII SMC Pneu
Slide 27: MWC Jaipur
MWC Jaipur 3,000 acre Integrated Business City, with a multi-product SEZ and a Domestic Tariff Area Operational in July 2008 – 19 months from commissioning Currently has three sector-specific SEZs 700+ acres of residential and social infrastructure Amphitheatre – MWC Jaipur 27
Slide 28: MWC Jaipur – Project Area
MWC Jaipur – Project Area IT SEZ PA Manufacturing PA NPA 555 acres 482 acres 717 acres Infrastructure and common areas 936 acres DTA Non- DTA industrial industrial 285 acres 25 acres * as per multi-product SEZ + DTA plan 28
Slide 29: MWC Jaipur – Area Statement
MWC Jaipur – Area Statement 400+ acres committed so far DTA Lease deeds for 300+ acres 41 acres leased MOUs signed for another 100 acres IT SEZ Light Engg SEZ 221 acres leased 24 acres leased MOUs for 12 acres Handicrafts SEZ 19 acres leased MOUs for 68 acres MOUs for 19 acres Deutsche Bank –
Slide 30: MWC Jaipur – Customers
MWC Jaipur – Customers IT SEZ Rajdhani Craft Veto Polymers & Metals Nagarro Software (Jaipur) Rediprint International Veto Electricals Truworth KPO Services Samurai Designs & Interiors QH Talbros Limited Connexxions IT Services Kirat Crafts Dynamic Powertech Nucleus Software
Slide 31: MWC Growth
MWC Growth Chennai Jaipur Today Projected* Today Projected* Employment 20,000 100,000 2,200 100,000 Investment ` 2,500Cr ` 4,000Cr ` 1,100Cr ` 10,000Cr Annual Exports (FY) ` 2,300Cr ` 8,000Cr ` 91Cr ` 5,000Cr * As per customer estimates Mindtree – MWC Chennai Infosys – MWC Jaipur Capgemini – MWC Che
Slide 32: The Way Forward
Pe » The Way Forward
Slide 33: Focus Areas
Focus Areas Real Estate Integrated Business Cities Execution excellence Augment social infrastructure Launch, develop and complete at MWC Chennai projects in current land bank 1,000-acre green-field Building presence project at Chennai Geographic expansion Expand customer base and En
Slide 34: Summary
Summary Translating values of the Mahindra group to the industry Refined business model and differentiation through focus on master planning, sustainability and transparency Volume and geographic expansion of realty projects pipeline Steady progress of World City projects – growing customer
Slide 35: Glossary
Glossary BSE – Bombay Stock Exchange DFP – Development Footprint DTA – Domestic Tariff Area M&M – Mahindra & Mahindra Ltd. MLDL – Mahindra Lifespace Developers Ltd. MBDL – Mahindra Bebanco Developers Ltd. MITL – Mahindra Integrated Township Ltd. MRDL – Mahindra Residential Developers
Slide 36: Thank You
Thank You www.mahindralifespaces.com | www.mahindraworldcity.com 36
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