Ganesh Housing Limited · NSE:GANESHHOU
Ganesh Housing — Q4 FY23 Earnings Presentation
33 slides from Ganesh Housing's earnings presentation, May 9, 2023
Slide 1: Cover letter to stock exchanges for Q4 FY23 earnings presentation
ISO 9001 :2008 I ISO 14001 :2004 OHSAS 180 01 :2007 REF.NO./GHCL/AHMD/2023-2024/363B DATE: MAY 09, 2023 To To BSE Limited National Stock Exchange of India Limited Corporate Relation Department Exchange Plaza, Phiroze Jeejeebhoy Towers Plot No. C/1, G Block Dalal Street, Bandra-Kurla Complex Mumbai -
Slide 2: Ganesh Housing Q4FY23 Earnings Presentation
GANESH ® !M!!!t"'! IC GANESH HOUSING Q4FY23 EARNINGS P R E S E N TAT I O N
Slide 3: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Ganesh Housing Corporation Limited (the “Company”) and no part of it shall form the basis of or be relied upon in conn
Slide 4: Q4FY23 Highlights
Q 4 F Y 2 3 H I G H L I G H T S
Slide 5: Q4FY23 and FY23 Key Business Highlights
Q4FY23 and FY23 Key Business Highlights Q4 revenue grew 18% YoY to EBITDA 100% higher YoY at INR PAT growth of 56% YoY to INR ~ l2 INR 1,830 Mn; FY23 revenue at INR 6,208 Mn, grew 61% YoY 110 0 0 II 1,048 Mn in Q4; FY23 EBITDA grew 89% at INR 2,563 Mn 394 Mn in Q4FY23; FY23 PAT grew 45% at INR 1,022
Slide 6: Q4 and FY23 Strong Financial Performance
Q4 and FY23 Strong Financial Performance Particulars (INR Q4FY23 Q3FY23 Q4FY22 QoQ (%) YoY (%) FY23 FY22 YoY (%) Mn) Revenue 1,830 674 1,556 172% 18% 6,208 3,849 61% EBITDA 1,048 475 524 121% 100% 2,563 1,355 89% EBITDA Margin (%) 57.3% 70.5% 33.7% (13.2%) 23.6% 41.3% 35.2% 6.1% PBT 1,024 418 451 14
Slide 7: Capital Structure Significantly Strengthened
Capital Structure Significantly Strengthened Significant debt reduction happened since FY19 when the company was facing challenges and real estate sector was also in turmoil; As on March 2023, the company has zero debt, and expects substantial cashflows from upcoming projects to ascertain comfortabl
Slide 8: Strategic Acquisition: Consolidating Assets Before Launch
Strategic Acquisition: Consolidating Assets Before Launch Completed acquisition of balance minority stake in subsidiary, Gatil Properties Pvt. Ltd. o GHCL purchased the full 31% holding of Monsoon India Infrastructure Direct II Limited, Mauritius arm of the US based fund o Gatil now becomes 100% sub
Slide 9: Ahmedabad: A Key Real Estate Hub in Gujarat
Ahmedabad: A Key Real Estate Hub in Gujarat Key Market of Gujarat Highly Affordable Ahmedabad Residential Real Estate Market Launches Sales Ahmedabad attracts around 40% of In 2022, Ahmedabad emerged as the most total real estate investment in affordable housing market in India, among its 12,000 Guj
Slide 10: What We Have Achieved And What's Next
What We Have Achieved And What’s Next Particulars Completed Projects Ongoing Projects Planned Projects No. of projects 21 2 3 Residential - 1 Residential – (8 phases) Residential - 17 Type of projects Commercial - 1 (Million Minds Commercial – (6 phases) Commercial – 4 Phase 1) Township – (5 phases)
Slide 11: Upcoming Commercial Projects: Robust Annuity Income
Upcoming Commercial Projects: Robust Annuity Income Construction Estimated Lease Estimated Project Expected Project Project Location Area (Mn. Sq. (INR Cr/Annum) Cost (INR Cr) Timelines Ft.) Million Minds (IT SEZ) Phase 1 1.3 72 285 H1FY24 - H2FY26 (Ongoing) Phase 2 1.3 72 285 H1FY25 - H2FY27 Phase
Slide 12: Upcoming Residential Projects: Strong Cashflow Visibility
Upcoming Residential Projects: Strong Cashflow Visibility Saleable Area Estimated Revenue Estimated Project Expected Project Project Location (Mn. Sq. Ft.) (INR Cr) Cost (INR Cr) Timelines Millions Minds (IT SEZ) Phase 1 0.6 380 140 H1FY24 – H1FY27 Phase 2 0.6 380 140 H1FY25 – H1FY28 Phase 3 0.8 460
Slide 13: Million Minds (IT SEZ): Landmark Project in High Growing Market
Million Minds (IT SEZ): Landmark Project in High Growing Market Prime Location Favorable IT & ITeS policy State of the art, world-class infrastructure Gujarat aspires to be among the top 5 states in facilities on 64 acres of land located at a key India as far as the IT & ITeS industry is concern
Slide 14: Strategic Partnership with Tishman Speyer for Million Minds
Strategic Partnership with Tishman Speyer for Million Minds Strategic alliance for development of GHCL’s Million Minds - 1st Phase of commercial development of 1.3 Mn Sq Ft Synergistic Partnership o Collaboration for SEZ development o Lease Management o Product Innovation Superior Capabilities Inter
Slide 15: Ongoing Project Update – Million Minds (IT SEZ) Phase 1
Ongoing Project Update – Million Minds (IT SEZ) Phase 1 Million Mind Phase 1 –project update of ongoing construction wo Status Expected Completion Construction Work in Progress March - 2026 ------ ■--■ ■--■ Construction Area Leasable Area 1.3 Mn. Sq. Ft. 0.85 Mn. Sq. Ft. Estimated Cost Estimated Ren
Slide 16: Ongoing Project Update - Malabar Exotica
Ongoing Project Update - Malabar Exotica 83% 100% Completed Booked Feb’24 Use of Precast Expected Delivery Construction Technology
Slide 17: Finished Project Update - Malabar County 3
Finished Project Update - Malabar County 3 100% 100% Completed Booked Delivered Use of Precast Well Ahead of Time Construction Technology
Slide 18: Malabar County 3: Project Delivered Within 2.5 Years
Malabar County 3: Project Delivered Within 2.5 Years Malabar County 3: Milestones achieved over the course of project construction and execution Oct’20 Feb’21 Feb’22 Sep’22 Feb’23 Land of 2 acres Project launched Significant progress Structure work Project completion identified I and construction on
Slide 19: Corporate
CORPORATE z (eo) — < — z Ww 7) Ww i a
Slide 20: Snapshot: A Leading Real Estate Developer in Gujarat
Snapshot : A Leading Real Estate Developer in Gujarat ,f.i ·.\·- - - - - - - - - - - - - - - - - - - - - - - ~ - - - - - -- ................ Premium Ahmedabad focused developer with strong & differentiated brand that allows leadership position Proven ability to predict growth areas and establish pre
Slide 21: Vision and Mission
Vision and Mission Content Here I VISION Easy to change colors, photos and Text. 52% MISSION “To be the most trusted, transparent, and “To continuously innovate and use the admired real estate developer” latest technology to provide high-quality spaces to our customers” “To set up and build standard
Slide 22: Our Journey So Far
Our Journey So Far Early Phase & IPO Fund Raising Robust Execution Scaling Up… (1991-2004) ) (2004-2009) ) (2009-2014) ) (2014-2020) • Bonus issue 2:1 (2006) • Delivered 17 msf. • Highest ever cash flow of INR 2,800 Mn; crossed • NSE listing in 2007. • Turnover of more than INR turnover of INR 3,000
Slide 23: Well Established Brand; Strong Transparency
Well Established Brand; Strong Transparency Ganesh Housing Corporation Limited (‘GHCL’) is the flagship company of Ganesh Group; listed since 1993 Leading residential developer across mid and higher income segment; Enviable track record of identifying several high potential locations and convert
Slide 24: Proven Execution Track Record
Proven Execution Track Record Maple Tree: Speed of execution to enhance shareholder value Feb’15 Apr’15 Apr’16 Apr’17 Jan’19 Land of ~ 10 acres Project launched Significant progress Construction work Completion identified I and construction made in less than completed in two start one year towers A
Slide 25: Significant Land Reserves for Future Growth
Significant Land Reserves for Future Growth ~500 acres of land reserves in strategic locations across Ahmedabad -th";,-- - J: · · · no R,oad' ,. 36-40 msf of development potential Ability to take advantage of - favourable market conditions by launching projects quickly without having to acquir
Slide 26: What Sets Us Apart
What Sets Us Apart Future Ready Transparent and Trustworthy Strategic Project Locations Top Quality Infrastructure Professionally Managed and Amenities Strong Brand Equity Focused on Deleveraging & Superior Reputation Innovative Planning Use of Technology – I-homes, Home Timely Delivery Automation e
Slide 27: Strong Leadership Team
Strong Leadership Team Dipak Kumar Patel - Chairman Shekhar Patel - MD Pankaj Teraiya – President Associated with GHCL since 1991; Veteran with an experience of over (Projects) 01 leading the land related matters and 02 25 years; leading day to day 03 BE Civil with an experience of over 27 govt. lia
Slide 28: Strategic Priorities
Strategic Priorities Being more aggressive towards Building a team for the future, Building both commercial and retail Strengthening segment, widen customer base Position focused approach towards Internal across price points and locations team reorganization and reorientation Organization Retaining
Slide 29: Way Forward: Plan, Prepare and Proceed
Way Forward : Plan, Prepare and Proceed What we will Achieve Sustainable growth and value creation for all the stakeholders Proceed Proceed with a larger, more efficient, and Prepare collective group. The This is what drives recent consolidation our everyday has ensured creation Plan strategy; prepa
Slide 30: Consolidated Income Statement (Historical)
Consolidated Income Statement (Historical) Particulars (INR mn) FY23 FY22 FY21 FY20 FY19 FY18 Revenue 6,208 3,849 1,820 2,773 2,672 5,082 EBITDA 2,563 1,355 (377) (504) 770 2,031 EBITDA (%) 41.3% 35.2% (20.7%) (18.2%) 28.8% 39.9% Depreciation 27 20 17 21 23 26 EBIT 2,535 1,335 (394) (525) 747 2,005
Slide 31: Balance Sheet (Historical)
Balance Sheet (Historical) Particulars (INR mn) FY23 FY22 FY21 FY20 FY19 FY18 Equity Share Capital 834 834 492 492 492 492 Reserves & Surplus 10,262 7,064 4,528 5,750 6,980 8,400 Minority Interest 683 870 871 931 927 927 Shareholder’s Equity 11,779 8,768 5,891 7,173 8,399 9,819 Borrowings 36 1,377 3
Slide 32: Cash Flows and Ratios (Historical)
Cash Flows and Ratios (Historical) Particulars (INR mn) FY23 FY22 FY21 FY20 FY19 FY18 Operating Cash Flow excl. 1,862 1,341 (658) (663) (469) 1,470 WC Working Capital Changes (1,556) (931) 1,980 1,890 1,761 (717) Investment Activities 2,782 394 434 531 841 260 Financing Activities 14 (852) (1,726) (
Slide 33: Thank You
THANK YOU