Kolte-patil Developers Limited · NSE:KOLTEPATIL
Kolte-patil Developers — Q4 FY2020 Earnings Presentation
28 slides from Kolte-patil Developers's earnings presentation, Jun 23, 2020
Slide 1: Cover letter to NSE and BSE
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Slide 2: Bigger. Better. Faster. Q4 & FY20 Results Presentation
BIGGER. BETTER. KOLTE-PATIL DEVELOPERS FASTER. THE STORY OF HOW WE ARE BUILDING ONE OF INDIA’S MOST SUSTAINABLE REAL ESTATE DEVELOPING COMPANIES LIMITED Q4 & FY20 Results Presentation
Slide 3: Disclaimer
2 Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those
Slide 4: Table of Contents
Table of Contents 3 KPDL – A Different Way of Doing Business 1 CEO’s Message 2 COVID -19 Update 3 Operational & Performance Highlights 4 Launch Calendar 5 P&L / Balance Sheet Snapshot 6 Project-wise Details 7 Outlook 8 About Kolte-Patil Developers Ltd. 9
Slide 5: KPDL – A Different Way of Doing Business
KPDL – A Different Way of Doing Business 4 Self-sustaining ≈ Efficient working capital management ≈ Growth in sales volume, value, growth engine ≈ Timely execution collections with low leverage and ≈ Sound capital allocation - focused on P&L no dilution accretive Business Development ≈ ROCE of 13-16
Slide 6: Kolte-Patil Developers: At a Glance
Kolte-Patil Developers: At a Glance 5 #1 3 Decades 26 MSF Residential real estate player in Pune Project portfolio - under execution, (Awarded as Most Reputed Brand in Pune) of presence being incorporated in 1991 approval and land bank Shareholding FII’s 14.61% >20 MSF 13-16% A+/Stable DII/Others 10
Slide 7: CEO's Message on Q4 FY20 performance
“FY20 was the best ever year for KPDL in terms of collections - highest ever in the company’s three-decade history. Further, we closed the financial year with positive sales momentum that has allowed us to achieve our stated guidance. It is noteworthy, that in absence of any launches, the sales perf
Slide 8: COVID-19 – KPDL Resilience
COVID-19 – KPDL Resilience 7 Adoption of Business Continuity & Risk Management Blueprint in early March with the objective of minimizing impact on all stakeholders and maintaining customer commitments, cash flow planning and operational readiness Sales Operations Liquidity People • Bookings were imp
Slide 9: Operational Highlights – Q4 FY20
Operational Highlights – Q4 FY20 8 New area sales Q4 FY20 Q3 FY20 Q4 FY19 YoY QoQ FY20 FY19 YoY Volume (million sq. ft.) 0.67 0.82 0.63 6.1% -18.5% 2.50 2.70 -7.4% Value (Rs. million) 3,549 4,084 3,553 -0.1% -13.1% 13,148 14,316 -8.2% Realization (Rs./Sq. ft.) 5,292 4,966 5,623 -5.9% 6.6% 5,280 5,30
Slide 10: Launch Calendar
Launch Calendar 9 Project Location Use Targeted Launch in GIGA Viman Nagar, Pune Commercial 3-6 months Aggregate topline Boat Club Boat Club Road, Pune Commercial 9-12 months potential of over Rs. 2,000 crore (KPDL Down Town Kharadi, Pune Commercial 6-9 months economic share) Pimple Nilakh Pimple Ni
Slide 11: Performance Highlights - FY20
Performance Highlights - FY20 10 Revenue, Rs. Crore PAT, Rs. Crore Net Debt, Rs. Crore 137 517 1,221 1,226 122 122 455 1,195 434 965 87 288 FY 2017 FY 2018 FY 2019 FY 2020 FY 2017 FY 2018 FY 2019 FY 2020 FY 2017 FY 2018 FY 2019 FY 2020 Note: The Company has adopted IND AS 115 during Q1 FY19, effecti
Slide 12: Performance Highlights – Q4 FY20
Performance Highlights – Q4 FY20 11 Revenue, Rs. Crore EBITDA, Rs. Crore PAT, Rs. Crore Q4 FY19 380 Q4 FY19 102 Q4 FY19 46 Q1 FY20 308 Q1 FY20 68 Q1 FY20 45 Q2 FY20 302 Q2 FY20 56 Q2 FY20 24 Q3 FY20 337 Q3 FY20 77 Q3 FY20 38 Q4 FY20 280 Q4 FY20 55 Q4 FY20 31 Note: The Company has adopted IND AS 115
Slide 13: Product-wise Sales - FY20
Product-wise Sales - FY20 12 3% 2% 2% 16% 1BHK 2BHK 29% 3BHK 4BHK Others 47% Commercial/Retail Note: The category of ‘Others’ includes Duplex , Row House and Plots.
Slide 14: New Sales Analysis – Q4 FY20
New Sales Analysis – Q4 FY20 13 msf. 0.49 0.46 0.77 0.80 0.63 0.51 0.50 0.82 0.67 100% 3% 3% 8% 5% 5% 5% 5% 3% 8% 13% 9% 1% 10% 2% 9% 4% 26% 11% 13% 80% 30% 16% 38% 31% 60% 50% 62% 36% 24% 42% 40% 55% 63% 37% 10% 34% 43% 20% 15% 37% 13% 27% 16% 19% 13% 14% 11% 9% 12% 0% Q4 FY2018 Q1 FY2019 Q2 FY2019
Slide 15: Abridged Cash Flows
Abridged Cash Flows 14 Q4 FY20 FY20 Abridged Cashflows - Unaudited (Rs. crore) (Un-Audited) (Un-Audited) Opening Balance 64 67 Operating Cashflow Collections 369 1,312 Construction Cost -135 -574 Other Expenses -57 -206 Direct & Indirect Taxes -19 -80 Financing & Investing Activities* Interest -17 -
Slide 16: Consolidated Debt Profile
Consolidated Debt Profile 15 Consolidated Debt Profile (Rs. crore) 31st March, 2020 31st December, 2019 31st March, 2019 CCM POCM^ CCM POCM^ POCM^ Net Worth 905 1,229 923 1,199 1,100 Gross Debt 728 728 780 780 807 Less: OCD / CCD1 / OCRPS / Zero 196 196 196 196 224 Coupon NCD* Debt 532 532 584 584 5
Slide 17: Revenue Recognition – Q4 FY20 vs Q4 FY19
Revenue Recognition – Q4 FY20 vs Q4 FY19 16 Q4 FY20 – Rs. 222 crore ^Q4 FY20 – Rs. 280 crore ^Q4 FY19 – Rs. 380 crore (CCM) (POCM) (POCM) Western Avenue 85% Life Republic 28% Western Avenue 21% Bengaluru Projects 14% Life Republic 19% Bengaluru Projects 15% Western Avenue 13% Bengaluru Projects 16%
Slide 18: Revenue Recognition – FY20 vs FY19
Revenue Recognition – FY20 vs FY19 17 FY20 – Rs. 1,129 crore ^FY20 – Rs. 1,226 crore ^FY19 – Rs. 1,195 crore (CCM) (POCM) (POCM) Western Avenue Life Republic 24% Life Republic 19% 37% Western Avenue 16% Western Avenue 19% Life Republic 15% Opula 13% Opula 12% Bengaluru Projects 11% Bengaluru Project
Slide 19: Profit and Loss Snapshot – Q4 FY20 vs Q4 FY19
Profit and Loss Snapshot – Q4 FY20 vs Q4 FY19 18 REASONS FOR VARIANCE P&L Snapshot (Rs. crore) Q4 FY20* Q4 FY19 Q4 FY20 Q4 FY19^ YoY (POCM) Revenue Recognition Method Reported CCM Reported CCM POCM POCM POCM Revenue from Operations 221.7 195.4 279.8 379.7 -26.3% ≈ Higher revenue in Q4 FY19 is mainly
Slide 20: Profit and Loss Snapshot – FY20 vs FY19
Profit and Loss Snapshot – FY20 vs FY19 19 REASONS FOR VARIANCE P&L Snapshot (Rs. crore) FY20* FY19* FY20^ FY19^ YoY (POCM) Revenue Recognition Method Reported CCM Reported CCM POCM POCM POCM Revenue from Operations 1,129.5 865.9 1,226.2 1,194.7 2.6% ≈ Other income in FY20 includes ~Rs. Cost of mate
Slide 21: Sales & Collections – Ongoing Projects – Q4 FY20
Sales & Collections – Ongoing Projects – Q4 FY20 20 Area Sold Sales value APR Collections Projects Location (msf.) (Rs. mn.) (Rs./sft.) (Rs. mn.) Life Republic - Phase I & II Hinjewadi, Pune 0.25 1,223 4,925 992 Ivy Estate Wagholi, Pune 0.10 376 3,847 276 Tuscan Kharadi, Pune 0.03 187 6,444 193 Down
Slide 22: KPDL Project Portfolio – 31.03.20
KPDL Project Portfolio – 31.03.20 21 Gross Details Gross Details (including partner’s share) (including partner’s share) Ongoing & Under Ongoing & Under Projects KPDL Share Land Bank Projects KPDL Share Land Bank Unsold Approval* Unsold Approval* Jazz II (Opula) 100% 0.04 - - Jai Vijay 100% 0.05 - -
Slide 23: Healthy Return Ratios
Healthy Return Ratios 22 ROE ROCE 18.4% 15.6% 14.5% 12.8% 12.1% 12.3% 11.1% 11.2% 10.1% 7.5% Mar '16 Mar '17 Mar '18 Mar '19 Mar '20 Note: Numbers on POCM basis
Slide 24: Business Outlook
Business Outlook 23 Sector consolidation Diversifying geographical presence Efficient capital deployment • First round of consolidation resulted from • 1.2 msf across society redevelopment projects in • Continue to evaluate strategic and financial implementation of RERA and GST benefiting Mumbai par
Slide 25: Brand, Marketing Awards
24 Brand, Marketing Best Realtor 2019 KPDL Awards By Times Realty Icons Brand Excellence in Real Developer of the Year Estate Sector by ABP News Residential by CNN NEWS18
Slide 26: Project Awards
25 Project Awards Integrated Most Trusted Brand by Luxury Project of the Innovative marketing township of the ET Now year- 24K Stargaze by campaign of the year year by CNN ET Now –Life Republic NEWS18 Zabardus Campaign by ET Now CSR Initiative of the Developer of the Integrated brand Luxury Project
Slide 27: About Kolte-Patil Developers
26 For further information, please About Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL), incorporated in 1991, is a leading real estate company with dominant presence in the Pune residential market. Kolte-Patil is a trusted name with a reputation for contact: Kolte-Patil high quality sta
Slide 28: Thank You
BIGGER. BETTER. FASTER. THE STORY OF HOW WE ARE BUILDING ONE OF INDIA’S MOST SUSTAINABLE REAL ESTATE DEVELOPING COMPANIES Thank You
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