Sobha Limited · NSE:SOBHA
Sobha — Sobha Developers — Q3 FY2012 Earnings Presentation
31 slides from Sobha's earnings presentation, January 2012
Slide 1: Investor Presentation - 31st December 2011
Details Make the Difference Investor Presentation - 31st December-2011 1
Slide 2: Performance Highlights Q3-12
Performance Highlights Q3-12 Moved into our new state of the art Corporate & Registered Office - Total Built-up area of 207,195 sft including double basement car parking facility with World Class working environment – Total seating capacity of 703 nos under one roof. Net cash generated from oper
Slide 3: Performance Highlights Q3-12 (contd.)
Performance Highlights Q3-12 (contd.) Achieved sales volume of 818,935 sft during the 3rd quarter as compared to 705,031 sft during the corresponding period last year-Grown by 16%. Cumulative sales volume for the 9 months ended 31st Dec-11 was 2.42 mn.sft as compared to 2.12 mn.sft for the corre
Slide 4: Proposed Launches in Coming Quarter
PROPOSED LAUNCHES IN COMING QUARTER SOBHA MERITTA, CHENNAI SOBHA SERENE, CHENNAI Located at Pudupakkam, OMR, Chennai. Very close to Sirusseri IT Located at Senneerkuppam, Off Porur-Poonthamalli High Road at Park and OMR IT corridor Chennai. Total saleable area of 0.72 mn.sft with B+Stilt+13 st
Slide 5: Proposed Launches in Coming Quarter
PROPOSED LAUNCHES IN COMING QUARTER SOBHA HABITECH, BANGALORE SOBHA HILL VIEW, COIMBATORE Located at Hope farms at Whitefield, Bangalore. Project site Located at Thondamuthur Road, Vedappatti, Coimbatore is very close to ITPL and Sai Baba Ashram at Whitefield. Total 176 nos of ‘Dreams’ type ap
Slide 6: Sales Performance
Sales Performance Real Estate sales during 3rd Quarter of 2011-12 Q3 11-12 6 months 9 months Q3 10-11 : 9 months Locations :Area sold 11-12 :Area 11-12 :Area Area Sold 10-11 : Area FY 10-11 (Sft) sold (Sft) sold (Sft) (sft) Sold (sft) Bangalore 567,662 1,121,678 1,689,140 564,075 1,571,128 2,113,836
Slide 7: Improving Outlook - Real Estate
Improving Outlook-Real Estate Area Sold • Average sales volume of 0.75 mn.sft for the past 5 (Mn.sft) 0.71 0.66 0.67 0.94 0.82 quarters. Average Price Realization (Rs/sqft) • Average sale price realization achieved for the 3rd quarter 5,475 5,189 of FY 11-12 is Rs.5,475/ sft and Rs.5,110/ sft for 6,
Slide 8: Unparalleled Execution Strength (Real Estate)
Unparalleled Execution Strength (Real Estate) Completed Projects ¾ Completed Projects: 19.95 100 16.50 77 projects aggregating to 19.95 mn.sqft of SBA in Real Estate 80 60 Total area developed * is 24.71 mn sft. 40 77 65 ¾ Ongoing Projects: 20 0 37 projects aggregating to 14.98 mn.sqft in Real
Slide 9: Real Estate – A Strong Foundation
Real Estate – A Strong Foundation Q3 -12 : Highlights – Real Estate Completed (19.95 Mn.sft) Completed 4 projects aggregating to 1.19 mn.sft Pune 0.30 0.84 Area sold during the quarter : 818,935 sft Thrissur 2.75 Average Price realization of Rs.5,475/sft Coimbatore Bangalore 16.06 - 5.00 10.00
Slide 10: Real Estate – Future Launches
Real Estate – Future Launches Proposed future launches: SITE Area Total SBA Sobha share of Sl.No Projects Location Type (in Acres) (sft) SBA (sft) BANGALORE 1 Sobha Habitech Hopefarms, Whitefield Luxury Apartments 4.48 574,208 574,208 Hosakerehalli, Mysore 2 Hosakerehalli Property L+SL Apartments 15
Slide 11: Real Estate – Future Launches (contd…)
Real Estate – Future Launches (contd…) Proposed future launches: SITE Area Total SBA Sobha share Projects Location Type (in Acres) (sft) of SBA (sft) Coimbatore 10 Sobha Hill view Veerakeralam, Dreams Apartments 4.03 256,612 256,612 Thondamuthur 11 Harishree Garden- Ph 5,6,9 Road Super Luxury Villas
Slide 12: Price Band Category - Residential
Price Band category -Residential Particulars Area in Sqft No. of units Net residential area sold 2,386,762 1,145 Add : Commercial space sold 34,150 7 Total SBA Sold for the period 2,420,912 1,152 ended 31st Dec 11 Category SBA (Sft) Percentage No of units Percentage 50-75 lakhs 585,402 24% 336 29% 7
Slide 13: Customer Profile
Customer Profile Buyers Profession Bank Funding Position IT/ITES Others, 3% professionals 40% Customers applied for Bank 49% Loan Medical / Pharmaceuticals Self Funding 51% , 5% Note: The funding position is considered for cumulative sales period from Oct -10 to Sep-11. Other Entrepreneurs / Profess
Slide 14: Unparalleled Execution Strength (Contracts)
Unparalleled Execution Strength (Contracts) Completed Projects ¾ Completed Projects: 1.91 202 projects aggregating to 24.86 mn. sqft in Contracts. 1.16 ¾ Ongoing Projects: 39 projects aggregating to 8.50 mn. sqft in Contracts, 21.79 Ongoing Projects ¾ Forthcoming Projects: 1.07 13 projects agg
Slide 15: Contractual Projects – An Overview
Contractual Projects – An Overview Contractual Projects status as on 31st December-11 ONGOING PROJECTS FORTHCOMING PROJECTS S.NO DESCRIPTION No of No of SBA (Sft ) SBA (Sft) Projects Projects 1 Mysore 4 1,992,489 3 796,051 2 Bangalore 11 1,469,392 3 506,000 3 Chennai 7 1,448,478 2 700,000 4 Pune 3 1
Slide 16: Project Completion
Project Completion Targeted Completion in 2011-12 Actual Completion in Q3-12 • Real Estate : Total 9 months-FY- H1 : FY 11-12 Q3:FY 11-12 11-12 • 9 projects aggregating 2.00 mn.sft of projects PARTICULARS are targeted to complete in FY 11-12 No of SBA No of SBA No of SBA Projects (Mn.sft) Projects (
Slide 17: Operational Cash flow Statement
Operational Cash flow Statement Real Estate Projected Cash flow status as on 31st December-11 Ongoing Completed Description UOM Projects Projects Total Super Built-up area 14.98 6.01 Mn.sft Sobha share of Saleable area 12.79 5.75 Mn.sft Total area sold till 31st December-11 4.07 5.60 Mn.sft Unsold a
Slide 18: Financial Snapshot Q3-12 (Standalone)
Financial Snapshot Q3-12 (Standalone) Rs.in Mns % Q3-12 ON % Q3-12 ON PARTICULARS Q3-12 Q3-11 Q2-12 Q3-11 Q2-12 Real Estate Income (Excl. 2,188 2,585 2,495 (15%) (12%) sale of land development rights) Contractual Income 948 796 800 19% 19% EBIDTA 778 909 787 (15%) (1%) PBT 576 562 592 2% (3%) PAT 40
Slide 19: Financial Snapshot (Standalone): Revenue, EBITDA & PAT
Financial Snapshot (Standalone) REVENUE, EBITDA & PAT 16,000 14,643 14,000 11,193 12,000 9,674 9,917 10,000 8,000 Value (Rs.Mns) 6,000 2,867 2,425 3,143 4,000 2,195 1,825 1,097 1,367 1,120 2,000 - 2008-09 2009-10 2010-11 2011-12 (9 months) Financial Year Revenue EBITDA PAT Rs. 1,500 cr new sales in
Slide 20: Financial Snapshot (Standalone): Equity, Reserve, Debt
Financial Snapshot (Standalone) Equity, Reserve, Debt D/E Ratio 18,911 18,705 20,000 17,946 18,000 16,104 2.00 1.74 16,000 13,740 12,743 1.60 14,000 11,880 Value (Rs.Mns) 12,000 10,166 1.20 0.80 10,000 0.63 0.65 0.80 8,000 0.40 6,000 4,000 - 729 981 981 981 2008-09 2009-10 2010-11 2011-12 (9 2,000 m
Slide 21: Balance Sheet (Standalone)
Balance Sheet (Standalone) Rs.in Millions st st th PARTICULARS 31 Dec-11 31 Dec-10 30 Sept-11 31st Mar-11 SOURCES OF FUNDS Shareholders' funds Share capital 981 981 981 981 Reserves and surplus 18,705 17,526 18,304 17,585 Net Worth 19,686 18,507 19,285 18,566 Loan funds Secured loans 13,289 12,582 1
Slide 22: Profit and Loss Statement (Standalone)
Profit and Loss Statement (Standalone) Rs.in Millions % of Growth Particulars Q3-12 Q3-11 Q2 -12 Q1-12 9 M-12 9 M-11 Q3-12 on Q3-12 on 9 M- 12 on Q3-11 Q2-12 9 M-11 Property Development 2,188 2,585 2,495 2,352 7,035 7,327 (15%) (12%) (4%) Incl. Sobha city Monetization of land / - 342 - - - 1,540 Dev
Slide 23: Cash Flow Statement (Standalone)
Cash Flow Statement (Standalone) Rs.in Millions Nine Months Year ended Particulars For Q3 2011 For Q2 2011 For Q1 2011 ended March 31 31/12/2011 30/09/2011 30/06/2011 31/12/2011 2011 A. CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 576.06 592.51 453.45 1,622.02 2,435.97 Adjustments for Share
Slide 24: Cash Flow Statement (Standalone)
Cash Flow Statement (Standalone) Rs.in Millions Nine Months Year ended Particulars For Q3 2011 For Q2 2011 For Q1 2011 ended March 31 31/12/2011 30/09/2011 30/06/2011 31/12/2011 2011 B. CASH FLOW FROM INVESTING ACTIVITIES Purchase of fixed assets (260.98) (446.65) (111.61) (819.24) (229.78) Proceeds
Slide 25: Cash Flow Statement (Standalone)
Cash Flow Statement (Standalone) Rs.in Millions Nine Months Year ended Particulars For Q3 2011 For Q2 2011 For Q1 2011 ended March 31 31/12/2011 30/09/2011 30/06/2011 31/12/2011 2011 Net increase/ (decrease) in cash or cash 182.18 59.35 106.04 347.57 (527.20) equivalents - (A+B+C) Cash and cash equi
Slide 26: Movement of Loans
Movement of Loans Rs. in Millions Particulars As on 30th As on 31st (Increase) Sep 2011 Dec 2011 /Decrease Gross Debt 14,061.03 13,364.00 697.03 Less: Cash & bank balances 438.54 621.00 (182.46) Net Debt 13,622.49 12,743.00 879.49 Rs. 1,500 cr new sales in Real Estate. Sobha – Poised for Rs. Sobha D
Slide 27: Land Bank – Development Potential
Land Bank – Development Potential CHENNAI (517.23 acres) Developable Area 37.48 Sobha Share 37.43 BANGALORE (865.72 acres) Developable Area 84.73 Sobha Share 81.49 HOSUR (484.76 acres) PUNE (138.61 acres) Developable Area 34.84 Developable Area 6.74 Sobha Share 34.84 Sobha Share 6.49 MYSORE (32.30 A
Slide 28: Sobha – Shareholding Pattern
Sobha – Shareholding Pattern FII's In the last 1 year FII’s holding has increased from 32.22% 29.65% to 32.22% , an increase by 8.66%. Promoters No. of shareholders as on 31st December 2011 is 60.50% 64,652 Market capitalization as on 31st December 2011 is Rs.1,888 crore. Mutual Funds 1.29% Ot
Slide 29: Sobha – Stock Performance
Sobha – Stock Performance Status as on: 31st December 11 No. of Shares 98.06 mns Market Capitalization Rs. 18,887 mn Stock Price : 52 week High / Low Rs.330 / Rs 179.50 Avg. Daily volume (12 months) 192,537 Shares Source : NSE & BSE index Sobha stock covered by, • Morgan Stanley • Jefferies India Lt
Slide 30: Recognition During the Quarter
Recognition During the Quarter ABCI Gold Award for “Newsletter Design”, ABCI Bronze Award for “Annual Report” and ABCI Bronze Award for “Illustration” Eco Friendly Project of the year for Bayer Eco-Commercial Building. Handa Golden Key trophy award for Value Engineering. Most Outstanding Str
Slide 31: Thank You
THANK YOU Sobha Developers Ltd. ‘SOBHA’, Sarjapur-Marathahalli Outer S. Baaskaran K. Bala Murugan Ring Road(ORR), Chief Financial Officer Devarabisanahalli, Bellandur Post, Manager – MD’s Office Mobile: +91- 98800 80009 Mobile: +91- 98807 30459 Bangalore-560103 Email: baaskaran.s@sobha.com Email: ba