Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q1 FY2014 Earnings Presentation
27 slides from Godrej Properties's earnings presentation, August 2013
Slide 1: Results Presentation First Quarter, Financial Year 2014
RESULTS PRESENTATION First Quarter, Financial Year 2014
Slide 2: Disclaimer
DISCLAIMER Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operation
Slide 3: Agenda
AGENDA Overview 01 Operational Highlights 02 Financial Highlights 03 Annexure 04
Slide 4: Godrej Group
GODREJ GROUP Established in 1897 Value Creation for Investors 1 $4.1 billion in annual revenue 500 million people use a Godrej product every day 2 12 Year CAGR Godrej ranked as 2nd most trusted Indian brand3 BSE SENSEX 16 4 $2.8 billion brand valuation by Interbrand Godrej Consumer Among
Slide 5: Godrej Properties
GODREJ PROPERTIES Established in 1991 Presence in 12 cities across India $ 500 million booking value in FY13 Chandigarh 0.7, 1 NCR 4.8, 3 87.6* million sq.ft. of potential developable area Residential I Commercial I Townships Ahmedabad 23.7, 1 Differentiated asset-light business model Ko
Slide 6: Strengths
STRENGTHS nd 1 Godrej ranked as the 2 most trusted Indian brand in the 2013 Brand Trust Report 500 million people use a Godrej product every day* Godrej Brand GPL aspires to bring the Godrej brands reputation for trust and quality to the real estate sector Effective Competitive advantage in
Slide 7: Stock Performance
STOCK PERFORMANCE GPL stock has substantially outperformed the BSE Realty Index since its IPO in 2010 180 160 140 120 GPL 100 BSE 80 REALTY 60 40 20 0 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jun-13 Returns since IPO listing – GPL : 8% BSE : 1
Slide 8: Corporate Governance
CORPORATE GOVERNANCE The Board is strongly committed to best practices of corporate governance with a focus on investors interests and shareholder value The Independent Directors on the GPL Board are: Keki B. Dadiseth Lalita D. Gupte Pritam Singh Served as Chairman of Hindustan Unilever Chairper
Slide 9: Agenda
AGENDA Overview 01 Operational Highlights 02 Financial Highlights 03 Annexure 04
Slide 10: Key Operational Highlights
KEY OPERATIONAL HIGHLIGHTS Business Development Two new projects with 1.85 million sq. ft. of saleable area added in Q1 FY 14 Highlights Two projects added to Residential Co-investment Platform Delivered growth in booking value despite adverse market conditions Sales Highlights Witnessed suc
Slide 11: Business Development Highlights
BUSINESS DEVELOPMENT HIGHLIGHTS Added two new projects with 1.85 million sq.ft. of saleable area in Q1 FY 14 Okhla, New Delhi Added GPLs first project in New Delhi with 0.85 million sq. ft. saleable area Residential Co-investment Platforms economic interest is 52.5% of revenues Whitefield, Ben
Slide 12: Sales Highlights
SALES HIGHLIGHTS Strong progress in ongoing sales Particular Q1 FY14 Q1 FY13 Growth Area Sold* (sq.ft.) 599,942 833,242 -28% Booking Value** (INR Cr) 606 525 +15% *Includes **Includes 24,503 sq.ft. of JVP area in Q1 FY14 & 79,248 sq.ft. area in Q1 FY13 INR 9 Cr of JVP booking value in Q1 FY14 &
Slide 13: Project Booking
PROJECT BOOKING Residential Projects Booking Area (sq.ft.) Booking Value (INR Cr) Q1 FY 14 Q1 FY 14 1 Godrej Garden City, Ahmedabad 237,712 81 Godrej Prakriti, Kolkata 48,890 25 1 Godrej Summit, Gurgaon 27,154 21 Godrej Palm Grove, Chennai 27,073 12 Godrej Horizon, Pune 25,213 13 Godrej Platinum, Ba
Slide 14: Launch Tracker FY 14
LAUNCH TRACKER FY 14 New Project Launches Planned in FY14 New Phase Launches Planned in FY14 Project City Status Project City Status Godrej Platinum1, Alipore Kolkata Godrej Summit Gurgaon Godrej Sky, Byculla Godrej Garden City Ahmedabad Mumbai Godrej Prakriti Kolkata Godrej Central, Chembur Mumbai
Slide 15: Construction Highlights
CONSTRUCTION HIGHLIGHTS 1.2 0.67 1.15 100% 0.45 0.1% 0.3% 1.3% 3.0% 99.3% 0.08 0.5 1.27 95.6% 95.8% 0.76 0.57 0.26 92.8% 80% 0.81 0.50 0.29 0.7% 2.5% 5.1% 2.4% 2.0% 6.9% 82.3% 0.14 0.01% 3.1% 79.5% 8.2% 78.7% 0.12 71.5% 73.6% 76.4% 74.3% 6.1% 71.7% 60% 0.13 0.37 67.4% 0.08 0.37 13.3% 60.8% 0.86 4.5%
Slide 16: Awards and Recognitions
AWARDS AND RECOGNITIONS GPL received three awards in Q1 FY 14 ‘Best Emerging Developer’ NDTV Property Awards, 2013 ‘Best Business Practice in Real Estate’ National Real Estate Award for Excellence in Real Estate for the year 2012 by Accommodation Times* • Ranked amongst India’s Top 25 compan
Slide 17: Agenda
AGENDA Overview 01 Operational Highlights 02 03 Financial Highlights Annexure 04
Slide 18: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS Strong earnings growth delivered Robust Growth YoY EBITDA growth of 77%, PBT growth of 79% and net profit growth of 130% Improving Margins Q1 FY 14 witnessed improved EBITDA, PBT and PAT margins Other Highlights GPL plans to raise ~ INR 700 Cr through a Rights Issue
Slide 19: Performance Metrics Q1 FY 2014
PERFORMANCE METRICS Q1 FY 2014 Key Performance Metrics Q1 FY 14 Q1 FY 13 % Change Total Income (INR Cr.) 244.3 232.8 5% Profit Before Tax (INR Cr.) 81.2 45.4 79% PAT (After minority interest INR Cr.) 39.5 17.2 130% Total income split by project Total income % split by project Total Income Projects
Slide 20: Consolidated Financial Statements P&L
CONSOLIDATED FINANCIAL STATEMENTS P & L Q1 FY 2014 Q1 FY 2013 Particulars % Change (INR Cr) (INR Cr) Total Income 244.3 232.8 5% EBITDA 83.3 47.0 77% Profit before tax 81.2 45.4 79% Profit after tax 51.4 25.8 99% Minority Interest 11.9 8.6 Net Profit 39.5 17.2 130% 20 I GODREJ PROPERTIES I R
Slide 21: Consolidated Financial Statements BS
CONSOLIDATED FINANCIAL STATEMENTS BS 30-Jun-13 3 1 - M a r- 1 3 30-Jun-13 3 1 - M a r- 1 3 EQUITY AND LIABILITIES (INR Cr) (INR Cr) ASSETS (INR Cr) (INR Cr) Unaudited Audited Unaudited Audited 1) SHAREHOLDERS FUND 1) NON CURRENT ASSETS a) Share Capital 78.1 78.0 a) Fixed Assets 77.2 50.0 b) Reserv
Slide 22: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators PARTICULAR Q1 FY 2014 Q1 FY 2013 EBITDA / Total Income 34.1% 20.2% PBT Margin % 33.2% 19.5% Net Profit Margin % (After minority interest) 16.2% 7.4% Leverage Indicators PARTICULAR As on June – 13 As on Mar – 13 Net Debt (INR Cr) 1,611 1,497 Net Debt / Equi
Slide 23: Agenda
AGENDA Overview 01 Operational Highlights 02 Financial Highlights 03 Annexure 04
Slide 24: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable S.No Project Name Location Asset Class Business Model Status Area (mn sq.ft.) Phase 1 to IV: Area Based 73.6% 1 Godrej Garden City* Ahmedabad Residential 20.60 Phase V onwards: Revenue Based 67.6% Ongoing 2 Godrej Electronic City Bangalore Residential 1.00 D
Slide 25: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable S.No Project Name Location Asset Class Business Model Status Area (mn sq.ft.) 18 Godrej Platinum Mumbai Residential 0.6 DM Fee 10.0% of Revenue Ongoing 19 Kalyan Township Mumbai Residential 0.54 Revenue Based 95% Forthcoming Profit Based 35% with upside pr
Slide 26: B. Commercial Projects
B. COMMERCIAL PROJECTS Est. Saleable S.No Project Name Location Asset Class Business Model Status Area (mn sq.ft.) Phase-I to IV : are based 73.6% 1 Godrej Garden City* Ahmedabad Commercial 2.40 Ongoing Phase V onwards: revenue based 67.6% 2 Godrej Eternia Chandigarh Commercial 0.5 Revenue Based
Slide 27: Thank You
THANK YOU For further information, please contact: Rajendra Khetawat / Karan Bolaria Godrej Properties Limited Tel: +91 22 6651 0200 Fax: +91 22 2207 2044 Email: rajendra@godrejproperties.com/ kbolaria@godrejproperties.com