Embassy Developments Limited · NSE:EMBDL
Embassy Developments — Equinox India Developments — Q2 FY2025 Earnings Presentation
34 slides from Embassy Developments's earnings presentation, Oct 23, 2024
Slide 1: Stock exchange cover letter for Investor Update
EQUINOX INDIA DEVELOPMENTS LIMITED (Formerly known as Indiabulls Real Estate Limited) CIN: L45101HR2006PLC095409 October 23, 2024 Scrip Code – 532832 EMBDL /EQ BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Bandra-Kurla Complex, Dalal Street, MUMBAI
Slide 2: Q2 FY2025 Investor Update
Equinox India Developments Limited dddddddddddddddddddddddddddddddddddddd Transition. Transform. Transcend. Q2 FY2025 Investor Update October 23, 2024
Slide 3: Table of Contents
Table of Contents I. Overview & Key Highlights 3 II. Operational Highlights 9 III. Financial Highlights 15 IV. Appendix 20 2
Slide 4: I. Overview & Key Highlights
I. Overview & Key Highlights
Slide 5: Key Highlights
Key Highlights Key Updates • Pre-sales: ₹98 Cr in Q2FY25 / H1FY25 at ₹180 Cr • New bookings: 98k sf in Q2FY25 / H1FY25 at 167k sf • Gross Collections: ₹144 Cr in Q2FY25 / H1FY25 at ₹252 Cr • Construction spend: ₹162 Cr in H1FY25; spends to collections at 64% • Net Surplus at ₹11,278 Cr; OC projects
Slide 6: Key Highlights (Cont'd)
Key Highlights (Cont’d) Other Updates (cont’d) NCLAT Hearing: The matter was heard on Oct 22, 2024, and the Hon’ble Court adjourned the matter to Nov 13, 2024. • During the last hearing, the tax department restated their earlier stand that on the merger being sanctioned, the interest of the departme
Slide 7: Snapshot
Snapshot Quick Facts Geographical Footprint Area (msf) 8 Cities 16 15.3 msf Presence Projects Portfolio 13.4 msf 1.9 msf 3,232 Acres NCR 0.8 Residential Commercial Land Bank (Retail + Office) Jodhpur 0.2 ₹11,278 Cr ₹18,343 Cr ₹1,934 Cr Vadodara 0.1 2.1 Indore Net Surplus Unsold Sold from Projects In
Slide 8: Business Highlights
Business Highlights For the Quarter ended September 30, 2024 Area Sold Pre-Sales Gross Collections (‘000 sf) (₹ Cr) 98 (₹ Cr) 98 207 77 85 144 68 82 105 Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 ASP 15% -30% Q-o-Q (₹/psf) 11,125 12,097 10,939 20% 37% Q-o-Q For the Half-year ende
Slide 9: Financial Highlights
Financial Highlights For the Quarter ended September 30, 2024 Revenue Adj. EBITDA Adj. PAT(1) (₹ Cr) 403 287 44 28 108 -11 -4 -18 -18 Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 Y-o-Y 166% -51% +100% +100% Q-o-Q -29% -10% +100% +100% For the Half-year ended September 30, 2024 (₹ C
Slide 10: II. Operational Highlights
II. Operational Highlights
Slide 11: Q2 FY2025 Operational Performance
Q2 FY2025 Operational Performance Area Sold Average Sales Price Pre-Sales Collections Construction Spends Projects (‘000 sf) (₹ psf) (₹ Cr) (₹ Cr) (₹ Cr) Sky Forest, Lower Parel 23 21,006 48 65 27 Indiabulls Greens, Panvel 39 5,905 23 9 13 Indiabulls Golf City, Savroli 7 3,545 3 2 3 Mega Mall, Jodhp
Slide 12: H1 FY2025 Operational Performance
H1 FY2025 Operational Performance Area Sold Average Sales Price Pre-Sales Collections Construction Spends Projects (‘000 sf) (₹ psf) (₹ Cr) (₹ Cr) (₹ Cr) Sky Forest, Lower Parel 42 20,528 86 129 29 Indiabulls Greens, Panvel 68 5,864 40 17 21 Indiabulls Golf City, Savroli 9 3,553 3 3 7 Mega Mall, Jod
Slide 13: Net Surplus from Projects
Net Surplus from Projects Unsold Inventory Sold Receivables Pending Costs Net Surplus (₹ Cr) 5,693 277 225 122 2,887 2,857 381 1,817 1,154 2,372 1,709 3,700 10,556 6,856 18,343 1,934 9,051 11,278 Pending costs on OC received projects fully covered through sold receivables with ~2x cover Area (msf) 9
Slide 14: Upcoming Launches
Upcoming Launches Land Saleable Area Nature GDV(1) Net Surplus Target Year Location Micro-market Product Launch (Acres) (msf) (Share) (₹ Cr) (₹ Cr) High-rise, Launched / Bengaluru Whitefield 4 0.5 67.98% JDA 721 215 Premium Sold out FY2025 Nov’24 / High-rise, Mumbai Thane 2 0.5 100% owned Awaiting R
Slide 15: Significant Land Reserves
Significant Land Reserves Considerations Strategic land bank which can fuel the next phase of growth • Total of 3,232 acres, near major Location (Acres) metropolitans, the largest among all Sohna 520 Gurugram-Sec 103 1 listed players Sonepat 13 Total North 534 North 534 acres • This allows us to dev
Slide 16: III. Financial Highlights
III. Financial Highlights
Slide 17: Debt Profile
Debt Profile Particulars (₹ Cr) Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Gross Debt(1) 204 171 267 269 373 Less: Cash & Cash Equivalents 637 624 679 365 120 Net Debt (433) (453) (412) (96) 253 Total Equity 3,057 3,064 2,765 4,565 4,580 Debt Equity Ratio Repayment Schedule Avg. Cost of Borrowings (x) (₹ Cr
Slide 18: Debt Walk
Debt Walk Particulars (₹ Cr) Q2 FY2025 H1 FY2025 FY2024 Opening Net Debt [A] (96) (412) (352) Inflows Collections (net of refunds) 70 151 566 Proceeds from disposal of Assets/Investments 5 184 160 Other misc. receipts 26 29 105 Cash & cash equivalents in newly acquired subsidiaries - 123 - Proceeds
Slide 19: Profit & Loss Statement (Extract)
Profit & Loss Statement (Extract) Q2FY25 Q1FY25 Q2FY24 H1 FY2025 H1 FY2024 FY2024 Particulars (₹ Cr ) (₹ Cr ) (₹ Cr ) (₹ Cr ) (₹ Cr ) (₹ Cr ) Revenue 287 403 108 691 317 469 Adj. EBITDA 44 (4) (11) 40 (55) (73) Finance Costs 4 5 3 9 3 10 Depreciation 3 3 3 6 6 11 (1) Exceptional items - - - - (629)
Slide 20: Consolidated Balance Sheet (Extract)
Consolidated Balance Sheet (Extract) As at As at As at As at Sep 30, 2024 Mar 31, 2024 Sep 30, 2024 Mar 31, 2024 Assets Equity & Liabilities (₹ Cr) (₹ Cr) (₹ Cr) (₹ Cr) Property, plant and equipment 13 14 Equity Share Capital 127 108 Investment Property 58 59 Instruments (Equity Nature) - 425 Other
Slide 21: IV. Appendix
IV. Appendix
Slide 22: Board and Leadership Team
Board and Leadership Team Aged 48 Years K. G. Aged 68 Years Krishnamurthy 20+ Years Experience 30+ Years Experience Sachin Shah Former President of the Company Non-Executive Former Managing Director & CEO of HDFC Property Ventures Ltd Previously with Embassy REIT, Samsara Chairman Exec
Slide 23: Strategy & Way Forward
Strategy & Way Forward • Visibility on near-term liquidity & cash flows • Renewed focus on brand • Maintain a prudent capital structure re-positioning & governance Capital Re-Energize Management Business • Focus on execution and • Organic growth from future completion of existing launches on existin
Slide 24: Velocity
Velocity Operations Velocity Area Sold Pre-Sales Gross Collections Construction Spends (‘000 sf) (₹ Cr) (₹ Cr) (₹ Cr) 98 98 98 207 88 89 85 82 77 70 74 62 68 60 61 144 63 138 135 105 Q2F24 Q3F24 Q4F24 Q1F25 Q2F25 Q2F24 Q3F24 Q4F24 Q1F25 Q2F25 Q2F24 Q3F24 Q4F24 Q1F25 Q2F25 Q2F24 Q3F24 Q4F24 Q1F25 Q2F
Slide 25: Projects Overview
Projects Overview Area (msf) Sales Unsold Sold Pending Net Particulars (₹ Cr) Category Saleable Sold Unsold Price(1) Inventory Receivables Costs Surplus OC Received Projects . Sky Forest, Lower Parel Residential 1.6 1.6 0.0 16,900 16 155 97 74 Indiabulls Greens, Panvel Residential 4.2 4.1 0.0 5,600
Slide 26: Projects Overview (Cont'd)
Projects Overview (Cont’d) Area (msf) Sales Unsold Sold Pending Net Particulars (₹ Cr) Category Saleable Sold Unsold Price(1) Inventory Receivables Costs Surplus Upcoming Projects Blu Annex, Worli Residential 1.6 - 1.6 50,000 8,199 - 2,617 5582 Silverlake Villas, Alibaug Residential 0.2 - 0.2 20,000
Slide 27: Project Visuals
Project Visuals Blu Estate & Club, Worli Sky Forest, Lower Parel 26
Slide 28: Project Visuals (Cont'd)
Project Visuals (Cont’d) Indiabulls Greens, Panvel Enigma, Gurugram Indiabulls Golf City, Savroli Centrum Park, Gurugram 27
Slide 29: Project Visuals (Cont'd)
Project Visuals (Cont’d) Mega Mall, Jodhpur One Indiabulls Park, Vadodara Indiabulls Sierra, Vizag 28
Slide 30: Project Visuals (Cont'd)
Project Visuals (Cont’d) Indiabulls Park, Panvel Indiabulls Golf City, Savroli 29
Slide 31: Project Visuals (Cont'd)
Project Visuals (Cont’d) One Indiabulls Thane Indiabulls One09 30
Slide 32: Project Visuals (Cont'd)
Project Visuals (Cont’d) Thane Phase 2 – Sales Lounge Thane Phase 2 – Mock Flat (Living Room) 31
Slide 33: Notes & Glossary
Notes & Glossary Notes: ► All figures in this presentation are as of September 30, 2024 unless otherwise stated ► Figures has been rounded off to nearest single decimal / integer for ease of presentation ► Area (msf) represents unsold residential saleable area including commercial area sold on strat
Slide 34: Thank You! / Disclaimer
Disclaimer This presentation (“Presentation”) does not constitute a prospectus, offering memorandum or an offer, or a solicitation of any offer, to purchase or sell any securities. This presentation should not be considered as a recommendation that any investor should subscribe for or purchase any s
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