Man Infraconstruction Limited · NSE:MANINFRA
Man Infraconstruction — Q4 FY23 Earnings Presentation
67 slides from Man Infraconstruction's earnings presentation, May 9, 2023
Slide 1: Exchange filing cover letter
w .• AVma. MAN INFRACONSTRUCTION LIMITED 12th Floor, Krushal Commercial Complex, Above Shoppers Stop, G. M. Road, Chembur (West), Mumbai - 400089. India O : 9122 42463999 I IJ: 9122 25251589 I U : office@maninfra.com I ~: www.maninfra.com 1l l www.facebook.com/maninfra gth May, 2023 The Listing Depa
Slide 2: Investor Presentation – Q4 FY23
MAN INFRACONSTRUCTION LIMITED INVESTOR PRESENTATION – Q4 FY23 May 2023
Slide 3: Safe Harbor
Safe Harbor • This presentation has been prepared by and is the sole responsibility of Man Infraconstruction Limited (the “Company” / “MICL”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. • This presentation does not constitute or form part of any offer
Slide 4: Index
Index Group Introduction 04 MICL Business Model 17 Performance Update 21 Company Financials 25 Our Business 34 Way Forward 47 Annexure 50 3
Slide 5: MICL Group Introduction
MICL GROUP INTRODUCTIONMICL INTRODUCTION BUILT WITH ETHICS, BUILT WITH ETHICS, LED WITH PASSION, LED WITH PASSION, FOCUSSED ON VALUE CREATION FOCUSSED ON VALUE CREATION
Slide 6: Group Milestones
Group 50+ Years of experience in construction across the Country Milestones 50+ Mn Sq. Ft. of real estate and infra. construction delivered 25 mn + Sq. Ft. of 25 mn + Sq. Ft. residential & commercial of ports, infra. & industrial development development 10+ Years of experience in Real Estate Develop
Slide 7: MICL: Building India
MICL: Building India o India’s leading construction Company establishing formidable position in real estate development o Focussed leadership Team – 3rd generation now in business o Integrated business model with 2 business verticals EPC and Real Estate o Superior financial performance – Robust grow
Slide 8: Vision, Mission and Group Values
Group Values VISION To be a leading integrated Real Estate • Customer centricity Development company with strong in-house • Pioneering innovation execution expertise and capabilities with attention to detail and utmost customer • Trust and integrity satisfaction and continue to grow in • Quality inf
Slide 9: Built with Ethics
Built with Ethics The journey of MICL Group dates back to 1964 as a partnership firm Started by Mr. Kishore Shah, a civil engineer by profession and the 1st generation entrepreneur of the Group Predominantly engaged in industrial and civil contracting works Undertook & completed multiple projects du
Slide 10: Led with Passion
Led with Passion “ I SEE A CLEANER, GREENER FUTURE ON THE HORIZON WHERE EVERYONE CAN LIVE HAPPIER, LIVE BETTER. ” 30+ years of solid experience in the construction industry and continues to be a mentor in strategic decisions of the Company Known for Quality, Timely execution & Team work, has led rep
Slide 11: Focused on Value Creation
Focused on “ TODAY WE LIVE OUR BEST LIFE, AND TOMORROW, Value Creation WE LIVE BETTER. ” Joined business in 2013 with a vision to diversify & grow in the real estate space Successful Diversification - Real Estate vertical now constitute ~50% of revenue in Mar-23 Strengthened real estate portfolio –
Slide 12: Global Aspirations
Global Aspirations Third Generation of the founding family, Mr. Vatsal Shah preserves the guiding principles that have brought MICL it’s continued success Graduated in Business administration from Northeastern University in 2019 Earned a M.S. in Business Analytics from University of Miami in 2021 Ga
Slide 13: Focused on Profitability
Focused on Profitability A qualified Chartered Accountant, he has over 35 years of experience both in India and abroad Specialized in finance, accounts, systems and commercial aspects of the business He oversees all finance, accounting, taxation and auditing work of the Company Responsible for manag
Slide 14: Well-Structured Board
Well-Structured Board MR. BERJIS DESAI MR. KAMLESH VIKAMSEY MR. DHARMESH SHAH MS. KAVITA UPADHYAY Chairman and Independent Director Independent Director Independent Director Non-Executive Director A Master of Law from the Former President of the Member of the Institution of A Chartered Accountant, U
Slide 15: Awards and recognition
ETHICAL EXCELLENCE INDIA’S MAHARASHTRA‘S BRAND IN TOP PILLAR OF OF THE YEAR DELIVERY CHALLENGERS STRENGTH 2022 2022 2022 2022 Incredible Brands of Incredible Brands 20th CONSTRUCTION MAHARASHTRA India Awards of India Awards WORLD GLOBAL AWARDS BAL STAMBH AWARDS ICONIC BEST MOST TOP YOUNG BRANDS PROM
Slide 16: Architects and consultants
ARCHITECTS psP EDIFICE felfes architects boss Ratt — uN hear Daiwa . archascts (Qos =—— POP aré po Po eco Keb & norein KA Viay Puriobi CConnatants Pt Lt LANDSCAPE ARCHITECTS MAN INFRACONSTRUCTION LIMITED 16 STRUCTURAL CONSULTANTS Strictwel Designers & [Consultants Pot. Ls. MEP CONSULTANTS HCP... HO
Slide 17: Living Better: Strong Focus on ESG
Living Better: Strong Focus on ESG “TODAY WE LIVE OUR BEST LIFE, AND TOMORROW, WE LIVE BETTER.”- Mr. Manan Shah o Mix Design Development for Reducing the o Use of high-performance energy efficient double- Environmental Impact of Concrete glazed glass which reflects heat and allows light into (Reduct
Slide 18: MICL Business Model
MICL Business Model MAN INFRACONSTRUCTION LIMITED
Slide 19: Business Model: Earns income from Multiple streams
Business Model: Earns income from Multiple streams Real Estate Projects EPC Projects DM Fee* or EPC Interest EPC PMC Equity Margin Margin or Margin Margin Margin Handling and In-house Includes Infra projects Professional Funds infused marketing the Engineering & from Government and managing of site,
Slide 20: Diversified Business Verticals
Diversified Business Verticals Real Estate EPC Business • Rs. 6,000+ crore of total sales in last 10 years • Rich experience in civil construction of port infrastructure, • Delivered 13* projects, all before time Residential, Commercial, Industrial & Institutional Buildings • Commitment to quality a
Slide 21: Business Model: Efficient and Scalable
Business Model: Efficient and Scalable Maintain Balance Sheet Strength Leverage Expertise & Knowledge • Maintain low leverage • Strong in-house EPC capabilities • Maximize cash flows • Enabling timely execution of • Bottom-line focused real estate projects Net Cash positive as on Mar-23 ROE & ROCE:
Slide 22: Performance Update
Performance Update
Slide 23: FY23 Performance - Operational Highlights
FY23 Performance - Operational Highlights Records strong collection in a year of Rs. 1,448 cr Sold 4.34 lakh sq. ft. in FY23 with a sales value of Rs. 992 crore KEY Launched 7.22 lakh sq. ft. in Mumbai (MMR) across HIGHLIGHTS different categories Delivered 6 Real Estate projects measuring 7.1* lakh
Slide 24: Business Highlights FY23
Business Highlights FY23 • Sold 2.77 mn sq. ft. of carpet area with a cumulative sales value of Rs. 6,000+ cr as on Mar-23 • Achieved sales of 4.34 lakh sq. ft. of carpet area in FY23 with a sales value of Rs. 992 crore mainly driven by, o New Launches of ~7.22 lakh sq. ft. across categories in Mumb
Slide 25: Business Highlights FY23
Business Highlights FY23 • Business Development o MICL to build India’s tallest residential tower – ‘Aaradhya Avaan’ at Tardeo o The ultra luxury project of MICL has requisite approvals in place o Initial construction work activity at the site has begun o The project measuring 6.5 lakh sq. ft. of ca
Slide 26: Company Financials
Company Financials
Slide 27: FY23 Performance - Company Highlights
FY23 Performance - Company Highlights Achieves robust Total Income of Rs. 1938 cr. in FY23 Revenue from operations saw strong growth of 97% YoY to Rs. 1,890 cr EBITDA grew by 67% YoY to Rs. 414 cr KEY Net profit grew by 20% YoY to Rs. 259 cr. HIGHLIGHTS Significant secured Debt reduction by Rs. 313
Slide 28: Both Divisions Contributing Strongly
Both Divisions Contributing Strongly 1,890 972 961 373 427 640 267 918 164 293 178 321 209 134 89 FY19 FY20 FY21 FY22 FY23 Consolidated revenue from operations – EPC Real Estate Amount in (Rs. Cr) Real Estate revenue grew at 56% CAGR in last 5 years (FY19-FY23) Segment revenue adjusted for intercomp
Slide 29: Maintaining Balance Sheet strength
Maintaining Balance Sheet strength 0.4 0.4 0.3 0.1 -0.1 513 293 299 308 240 207 157 156 44 -102 Net Debt Cash & cash Eq. Net Debt/Equity ratio (x) FY19 FY20 FY21 FY22 FY23 Consolidated financials – Amount in (Rs. Cr) Consistently focused to reduce debt and increase liquidity 28
Slide 30: Significant Debt Reduction
Significant Debt Reduction Consistent Debt Reduction every quarter 404 -11% 360 -12% 318 -30% 223 -60% 138 91 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 As on 9-May-23 Consolidated financials – Amount in (Rs. Cr) Significant Secured Debt Reduction by Rs. 313 cr in last 1 year Net Cash positive at consolidat
Slide 31: Q4 & FY23 Consolidated Financial Highlights
Q4 & FY23 Consolidated Financial Highlights Particulars (Rs. Crs.) Q4 FY23 Q4 FY22 Y-o-Y Q3 FY23 Q-o-Q FY23 FY22 Y-o-Y Revenue from Operations 680.3 264.3 157% 456.9 49% 1,890.3 961.5 97% Total Expense 555.9 208.7 328.0 1,476.4 714.0 EBITDA 124.4 55.6 124% 128.9 -3% 413.9 247.5 67% EBITDA Margin (%)
Slide 32: Historical Financial Highlights - Consolidated
Historical Financial Highlights - Consolidated Profit & Loss Statement (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Revenue from Operations 1,890.3 961.5 427.2 267.0 371.4 Total Expense 920.6 714.0 330.6 269.7 271.6 EBITDA 413.9 247.5 96.6 -2.7 99.8 EBITDA % 21.9% 25.7% 22.6% - 26.9% Other Income 4
Slide 33: Q4 & FY23 Standalone Financial Highlights
Q4 & FY23 Standalone Financial Highlights Particulars (Rs. Crs.) Q4 FY23 Q4 FY22 Y-o-Y Q3 FY23 Q-o-Q FY23 FY22 Y-o-Y Revenue from Operations 356.1 59.3 501% 221.7 61% 797.8 236.6 237% Total Expense 328.3 51.8 173.9 660.9 175.5 EBITDA 27.9 7.5 273% 47.8 -42% 136.9 61.1 124% EBITDA Margin (%) 7.8% 12.
Slide 34: Historical Financial Highlights - Standalone
Historical Financial Highlights - Standalone Profit & Loss Statement (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Revenue from Operations 797.8 236.6 119.6 107.0 166.5 Total Expense 660.9 175.5 115.9 108.8 125.7 EBITDA 136.9 61.1 3.7 -1.8 40.8 EBITDA % 17.2% 25.8% 3.1% - 24.5% Other Income 83.2 75.
Slide 35: Real Estate Business
Real Estate | Business
Slide 36: Superior Competitive Strength
Superior Competitive Strength 13 projects (residential + commercial) delivered ~Rs. 750^ cr. invested ~2.9 million sq. ft. (Carpet area) of - Proven track record of quality & execution by the company in own Real Estate ongoing and upcoming Residential - All projects delivered before the scheduled da
Slide 37: Strong Brand in a Short Span
Strong Brand in a Short Span Diversified Real Estate portfolio Sales Performance (Rs. Cr.) 2% 3% 1,353 24% Mid-Premium 1,200 992 Premium 626 611 71% Luxury Ultra Luxury FY19 FY20 FY21 FY22 FY23 Carpet area of Ongoing Projects category-wise as on Mar-23 Strong Collections (Rs. Cr.) 1,448 2.77 Rs. 6,0
Slide 38: Strengthening Real Estate Presence
Strengthening Real Estate Presence Upcoming in Mid- Completed Projects On-going Residential Projects Mira Road premium projects in Mira Road (Near Dahisar) • Aaradhya Tower • Aaradhya Parkwood Upcoming in luxury (Near Dahisar) • Aaradhya Saphalya • Aaradhya Evoq project in Vile Parle • Aaradhya Nala
Slide 39: MICL to build India's tallest residential tower in Mumbai
MICL to build India’s tallest residential tower in Mumbai Requisite approvals in place to launch the project – ‘Aaradhya Avaan’ at Tardeo
Slide 40: Building Our International Presence
Building Our International Presence Edition Residences URBIN Miami Beach Location: Fort Lauderdale, Florida, USA Location: Washington Avenue, Miami Beach, Florida Type: Residential Type: Commercial, lease model Size: 65 Luxury residence units with Features: co-live, co-work, and an saleable area of
Slide 41: Ongoing Projects
Ongoing Projects Name of RERA Carpet Area sold as Est. Project MICL's Type Launch Units Sold as Sr. No. developing Location area on 31.3.2023 Completion Total Units Name Stake Date $ on 31.3.2023 entity (sq ft.) (sq ft.) Date Aaradhya Near Man 1 High Park – 99.99% 2 Residential towers Dahisar, 2,21,
Slide 42: Upcoming Projects
Upcoming Projects Name of Type Carpet area Expected Sr. No. Project Name developing MICL's Stake Location Total Units (sq ft.) Launch Date* entity Aaradhya Man Vastucon 2 Residential Near Dahisar, 1 Parkwood 99.99% 2,30,136 Sep-23 455 LLP Towers Thane - Phase 2 Aaradhya Man Vastucon 99.99% | 2 Resid
Slide 43: Completed Projects
Completed Projects Completed time Total Carpet Area Carpet Area Sold Sr. No. Project Type Total Units No. of Units Sold before scheduled (sq.ft.) (sq.ft.) Date 1 Aaradhya Tower Residential 48 48 46,994 46,994 1 month 2 Aaradhya Saphalya Residential 5 5 4,244 4,244 1 0 months 3 Aaradhya Nalanda Resid
Slide 44: EPC Business
EPC Business
Slide 45: Marquee Clientele with excellent client relationships
Marquee Clientele with excellent client relationships 44
Slide 46: Strengths of EPC Business
Strengths of EPC Business Commitment to quality & timely delivery 1 resulting in repeat business from clients Efficient project monitoring and 2 cost control Experience in constructing complex infra 3 projects, high-rise buildings, townships & mass housing developments Owned Plant & equipment and li
Slide 47: Ongoing Projects
Ongoing Projects 01 02 03 Infrastructure Residential Commercial ~1.29 Mn. sq. ft. of Construction Work ~2.55 Mn. sq. ft. of Construction Work # ~0.31 Mn. sq. ft. of Construction Work • Govt. Residential: PCMC - Charholi & Ravet • Atmosphere Phase II* • Gateway • Aaradhya High Park - Phase 1^ ~110 He
Slide 48: Way Forward
Way Forward
Slide 49: Strategic Priorities
Strategic Priorities Strengthening our position in existing segments Focus on execution and Cash Flow generation Maintain a strong Balance Sheet Create superior shareholder value 48
Slide 50: Way Forward
Way Forward Expansion Strategy Global (USA) Expansion • Real Estate - Focus to grow in MMR region through Asset Light • Expand footprint in demand-generating market - model – JV / JDA / DM Miami, Florida, USA - Well-diversified portfolio across customers, category and micro market • Strategic tie-up
Slide 51: Annexure: Favorable Market Conditions
Annexure Favorable Market Conditions
Slide 52: Indian Real Estate to become $1 trillion market
Indian Real Estate to become Housing to contribute ~7% of GDP Favourable Long-Term Factors $1 trillion market 12% 10% 1,000 Home loan rate still lower than 8% peak levels 650 6% Significant improvement in 4% affordability 180 2% 50 0% Unsold Inventory at it’s lowest 2008 2020e 2025e 2030e FY12 FY20
Slide 53: Large scale development initiatives by Government
Large scale development initiatives by Government Strong Macro-Drivers Sagarmala Project • Infrastructure led economic growth - Port Development and modernization program - Significant Investment outlay of Rs. 5.5 trillion by 2035 • Strong emphasis laid on ‘Make in India initiative’ • All time high
Slide 54: Amenities - Ongoing Projects
AMENITIES Infinity Swimming Pool Toddler’s Area *Flats/Units offered for sale are only for Tower 3 (Clove) & Tower 4 (Dion) of Aaradhya Parkwood 1 Project. Real Estate: Ongoing Projects 53 Yoga & Zumba Indoor Games Area Artist's Impression
Slide 55: Amenities - Ongoing Projects
Real Estate: Ongoing Projects Artist's Impression Artist's Impression AMENITIES Artist’sImpression Reflection Pool Elegant Deck Seating Peaceful Zen Garden Silver Screen Theatre 54
Slide 56: Amenities - Ongoing Projects
Real Estate: Ongoing Projects Artist's Impression Artist's Impression AMENITIES Artist’s Impression Luxurious Swimming Pool Kids’ Play Area Mini - Theatre Gymnasium 55
Slide 57: Amenities - Ongoing Projects
Real Estate: Ongoing Projects Artist's Impression AMENITIES Artist’sImpression Mini Multipurpose Court Kids Rock Climbing Area Entrance & Walkway Zen Garden 56
Slide 58: Amenities - Ongoing Projects
Real Estate: Ongoing Projects Artist's Impression AMENITIES Artist’s Impression The Sports Lounge Snooker Lounge Gymnasium Business Chamber 57
Slide 59: Amenities - Phase II
Real Estate: Ongoing Projects Phase - II Artist's Impression AMENITIES Swimming Pool Theatre The Gymnasium Play Court - Tennis Kids Play Zone 58
Slide 60: Real Estate: Completed Projects
Real Estate: Completed Projects 59
Slide 61: Completed Projects - Aaradhya Eastwind
Real Estate: Completed Projects - Aaradhya Eastwind All images are actual shots.
Slide 62: Completed Projects - Aaradhya Highpark Phase 1
Real Estate: Completed Projects - Aaradhya Highpark – Phase 1 All images are actual shots.
Slide 63: Completed Projects - Aaradhya One Earth Phase 1
Real Estate: Completed Projects - Aaradhya One Earth – Phase 1 All images are actual shots.
Slide 64: EPC Completed Projects – Port Infrastructure
EPC Completed Projects – Port Infrastructure Constructed the first Private Port of India Bharat Mumbai Container Mundra International Chennai Container Terminal Terminals Pvt Ltd (BMCT) Container Terminal (MICT) (CCT) 90 Hectares 23 Hectares 15 Hectares Nhava Sheva International Container Terminal G
Slide 65: EPC Completed Projects – Residential Buildings and Townships
EPC Completed Projects – Residential Buildings and Townships Kohinoor Residency PCMC - EWS CLIENT : Kohinoor Planet Construction CLIENT : Pimpri Chinchwad Pvt. Ltd. Municipal Corporation (PCMC) AREA: 0.30 Million Sq. Ft. AREA: 2.46 Million Sq. Ft. Blue Ridge Orchid Woods CLIENT : Flagship Infrastruc
Slide 66: EPC Completed Projects – Commercial Buildings and Institutions
EPC Completed Projects – Commercial Buildings and Institutions Kohinoor Commercial Complex Godfrey Phillips Factory Shed CLIENT : Kohinoor Planet Construction Pvt. CLIENT : Godfrey Phillips India Ltd. Ltd. AREA: 0.10 Million Sq. Ft. AREA: 0.36 Million Sq. Ft. Sai Complex Gigaplex IT Park CLIENT : Sh
Slide 67: Thank You
THANK YOU INVESTOR RELATIONS Company: MICL Go India Advisors Name: Mr. Yashesh Parekh Name: Mrs. Sheetal Khanduja Tel: +91-9769364166 Email: Yashesh@maninfra.com Email: sheetal@goindiaadvisors.com 66
Man Infraconstruction — Q4 FY23 Earnings Presentation on 6ix