Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q4 FY2021 Earnings Presentation
46 slides from Godrej Properties's earnings presentation, May 3, 2021
Slide 1: Filing cover letter to BSE and NSE
Godrej Properties Limited Regd. Office: Godrej One, 5th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai – 400 079. India Tel.: + 91-22-6169 8500 Fax: + 91-22-6169 8888 Website: www.godrejproperties.com CIN: L74120MH1985PLC035308 May 03, 2021 BSE Limited Phiroze Jeejeebhoy Towers,
Slide 2: Results Presentation Fourth Quarter, Financial Year 2021
R E S U LT S P R E S E N T A T I O N FOURTH QUARTER, FINANCIAL YEAR 2021 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 3: 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 4: Agenda
AGENDA Overview 01 FY21 Highlights 02 Q4 FY21 Operational Highlights 03 Q4 FY21 Financial Highlights 04 Annexure 05 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY21
Slide 5: Godrej Group
GODREJ GROUP Established in 1897 Value Creation Track Record $5 billion in annual revenue 20 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth 1.1 billion people globally use a Godrej product1 BSE Sensex 15% 14 Godrej ranks amongst the most trusted Indian brands2 Go
Slide 6: Godrej Properties
GODREJ PROPERTIES Established in 1990 Amongst Indias largest developers by residential sales Successfully delivered ~22 million sq. ft. of real estate in the Chandigarh 0.5, 1 NCR past five years 27.2, 15 ~187 million sq. ft. of saleable area across India Differentiated asset-light busine
Slide 7: Strengths
STRENGTHS 1 1.1 billion people globally use a Godrej product Godrej Brand Godrej Properties ranked as the most trusted real estate brand in the 2019 Brand Trust Report GPL brings the Godrej brands reputation for trust, quality and corporate governance to the real estate sector Effective Land
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth ~9x an identical investment into the BSE Realty Index Value Creation Track Record 11 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 9.7% 2.82 Godrej Properties 17.5% 6.12 BSE Realty Index -3.2% 0
Slide 9: Agenda
AGENDA Overview FY21 Highlights 02 Q4 FY21 Operational Highlights 03 Q4 FY21 Financial Highlights 04 Annexure 05 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY21
Slide 10: FY21 Highlights
FY21 HIGHLIGHTS Booking value of INR 6,725 crore for FY21, highest ever sales in a financial year by GPL Sales Highlights Sales above INR 1,300 crore in each of our four focus markets of MMR, Bangalore, NCR and Pune 11 successful new project/phase launches Raised INR 3,750 crore of equity th
Slide 11: Highest Ever Sales by GPL in a Financial Year – Booking Value of INR 6,725 Crore
HIGHEST EVER SALES BY GPL IN A FINANCIAL YEAR – BOOKING VALUE OF INR 6,725 CRORE GPL is amongst India’s largest developers by booking value • Total booking value in FY21 grew by 14% YoY to INR 6,725 crore • Sales from existing inventory in FY21 stood at INR 4,550 crore • Sales from new launches in F
Slide 12: Capital Raising
CAPITAL RAISING Raised INR 3,750 crore through QIP in March 2021 Allotted 2,58,62,068 equity shares of INR 5 each to Qualified Institutional Buyers for INR 1,450/share Demonstrates GPLs ability to successfully raise capital in tough macro economic environment for the real estate sector The pr
Slide 13: Business Development Closures Were Soft in FY21
BUSINESS DEVELOPMENT CLOSURES WERE SOFT IN FY21 AS WE ADOPTED A WAIT AND WATCH PERSPECTIVE IN H1 Added 4 new projects with ~6 million sq. ft. of saleable area and high economic interest to GPL in FY21 Projects added in FY21 Saleable Area Particulars Business Model (million sq. ft.) Kalyan, MMR 1.50
Slide 14: Construction Highlights
CONSTRUCTION HIGHLIGHTS Delivered ~6.5 million sq. ft. across 3 cities in FY21 Godrej Two, Vikhroli Godrej Reserve*, Bangalore Godrej United, Bangalore Godrej Air – Phase 1, Bangalore 1.17 million sq.ft. 1.90 million sq.ft. 0.95 million sq.ft. 0.66 million sq.ft. Godrej 101, NCR Godrej Icon, NCR God
Slide 15: Global Recognition for Sustainability Initiatives
GLOBAL RECOGNITION FOR SUSTAINABILITY INITIATIVES Ranked #1 globally amongst listed residential developers by GRESB (Global Real Estate Sustainability Benchmark) - An industry-driven organization which assesses Environmental, Social and Governance (ESG) performance of real assets globally GRESB is
Slide 16: Awards and Recognitions
AWARDS AND RECOGNITIONS GPL received 69 awards in FY21 ILLUSTRATIVE LIST OF AWARDS GODREJ PROPERTIES PROJECT AWARDS National Brand Leader of India Godrej Greens, Pune Ranked Number one by Track2Realty BrandXReport 2019-2020 Design Excellence Award (Residential) - World Leadership Awards 2021 G
Slide 17: CSR Initiatives - Good & Green
CSR INITIATIVES - GOOD & GREEN As on Q4 FY21, ~90% of GPL project portfolio* is certified under credible external green rating systems such as the Indian Green Products and Offices Building Council (IGBC), Leadership in Energy and Environmental Design (LEED), and Green Rating for Integrated Habita
Slide 18: Agenda
AGENDA Overview FY21 Highlights 02 Q4 FY21 Operational Highlights 03 Q4 FY21 Financial Highlights 04 Annexure 05 17 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY21
Slide 19: Q4 FY21 Operational Highlights
Q4 FY21 OPERATIONAL HIGHLIGHTS GPLs best ever quarter for sales - booking value stood at INR 2,632 crore 10% YoY growth and 77% QoQ growth in booking value Sales Highlights 7 new project/phase launches across 4 cities Godrej Woods in Noida clocked sales of over INR 500 crore in the launch q
Slide 20: Sales Highlights
SALES HIGHLIGHTS Particulars Q4 FY21 Q4 FY20 Growth Q3 FY21 Growth FY21 FY20 Growth Area Sold (sq. ft.) 4,176,803 3,610,789 16% 2,395,688 74% 10,813,774 8,799,842 23% Booking Value (INR Cr) 2,632 2,383 10% 1,488 77% 6,725 5,915 14% Strong response to new project/phase launches Godrej Woods, NCR Godr
Slide 21: Sales Highlights (Contd.) – City-wise Sales Breakdown
SALES HIGHLIGHTS (Contd.) City-wise Sales Breakdown NCR PUNE • Registered total sales of 1.06 million sq. ft. through sale • Registered total sales of 1.02 million sq. ft. through sale of 538 homes with a booking value of INR 884 crore of 1,066 homes with a booking value of INR 589 crore MMR BANGALO
Slide 22: Project Booking
PROJECT BOOKING Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Residential Projects Q4 FY21 FY21 Q4 FY21 FY21 Godrej Woods, NCR 493,156 493,156 509 509 Godrej Green Vistas, Pune 492,731 492,731 302 302 Godrej Woodland, Bangalore 753,722 753,722 258 258 Godrej Upavan, MMR 256,293 256,293 1
Slide 23: Project Booking (Contd.)
PROJECT BOOKING (Contd.) Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Commercial Projects Q4 FY21 FY21 Q4 FY21 FY21 Godrej BKC, MMR 0 10,463 0 38 Godrej Eternia, Chandigarh 34,026 44,088 28 36 Godrej Genesis, Kolkata 0 -24,845 0 -12 Total 34,026 29,706 28 62 Grand Total 4,176,803 10,813
Slide 24: Quarterly Sales Trend
QUARTERLY SALES TREND 3,000 Quarterly Sales Value 2,632 2,500 2,383 2,000 (INR cr) 1,531 1,488 1,446 1,500 1,189 1,074 1,000 897 500 0 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Quarterly Sales Volume 4.5 4.2 4.0 3.6 3.5 3.0 2.5 2.4 (Million sq. ft.) 2.5 2.3 2.0 1.7 1.6 1.5 1.3
Slide 25: Business Development
BUSINESS DEVELOPMENT Added a new project with saleable area of ~0.4 million sq. ft. in Q4 FY21 Sanpada, MMR • The project is an acquisition of land from the City and Industrial Development Corporation (CIDCO) in Sanpada, Navi Mumbai which offers a well-developed social and civic infrastructure with
Slide 26: Launch Tracker FY21
LAUNCH TRACKER FY21 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY21 New Phase Launches Planned in FY21 Project City Launch Launch Status Area* Project City Status Area* Godrej Royale Woo
Slide 27: Launch Tracker FY22
LAUNCH TRACKER FY22 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY22 New Project Launches Planned in FY22 Project City Launch Project City Launch Status Area* Status Area* Bagalur Phase 1
Slide 28: Construction Highlights
CONSTRUCTION HIGHLIGHTS Delivered ~2.3 million sq. ft. across 2 cities in Q4 FY21 Godrej Two, Vikhroli Godrej United, Bangalore Godrej Platinum, Vikhroli 1.17 million sq.ft. 0.95 million sq.ft. 0.17 million sq.ft. Commercial Project with DM Fee project DM Fee project 50% equity stake 27 | GODREJ PRO
Slide 29: Awards and Recognitions
AWARDS AND RECOGNITIONS GPL received 42 awards in Q4 FY21 and a total of 69 awards in FY21 ILLUSTRATIVE LIST OF AWARDS GODREJ PROPERTIES PROJECT AWARDS Masters of Risk - Real Estate Category Godrej Greens, Pune 7th edition of The India Risk Management Awards Design Excellence Award (Residential)
Slide 30: Agenda
AGENDA Overview FY21 Highlights 02 Q4 FY21 Operational Highlights 03 Q4 FY21 Financial Highlights Annexure 05 04 29 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY21
Slide 31: Consolidated Financial Statements – P & L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q4 FY21 Q4 FY20 % Change Q3 FY21 % Change FY21 FY20 % Change Total Income 508 1,261 -60% 306 66% 1,217 2,829 -57% Adjusted EBITDA* -72 321 -122% 96 -175% 150 903 -83% EBITDA** -79 253 -131% 81 -197% 119 733 -84% Profit before tax -125 19
Slide 32: Consolidated Financial Statements - Cashflow
CONSOLIDATED FINANCIAL STATEMENTS - CASHFLOW (INR Cr) Notes Particulars Q4 FY21 FY21 Operating cashflow Total operating cash inflow 2,006 4,367 A Operating cash outflow Construction and related outflow (748) (1,942) Other project related outflow (473) (1,532) Total operating cash outflow (1,221) (3,
Slide 33: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 31.03.2021 As on 31.03.2020 A Assets Audited Audited 1 Non Current assets a Property, plant & equipment 101.51 77.89 b Right-of-Use Asset 27.83 3.76 c Capital Work-in-Progress 229.25 160.86 d Investment Property 23.17 9.79 e Go
Slide 34: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 31.03.2021 As on 31.03.2020 B Equity and Liabilities Audited Audited 1 Equity a Equity share capital 138.97 126.01 b Other equity 8,180.52 4,681.78 c Non-controlling interest - - Total Equity 8,319.49 4,807.79 2 Liabilities 2.1
Slide 35: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators Particulars Q4 FY2021 Q4 FY2020 Q3 FY2021 FY2021 FY2020 Adjusted EBITDA / Total Income* -14.2% 25.5% 31.4% 12.3% 31.9% EBITDA / Total Income** -15.5% 20.1% 26.6% 9.8% 25.9% PBT Margin % -24.6% 15.2% 10.3% -7.0% 17.4% Net Profit Margin %# -37.7% 8.1% 4.7% -
Slide 36: Agenda
AGENDA Overview FY21 Highlights 02 Q4 FY21 Operational Highlights 03 Q4 FY21 Financial Highlights 04 Annexure 05 35 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY21
Slide 37: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based - 73.6% 1 Godrej Garden City* Ahmedabad Residential 14.80 Own Phase V: Revenue Based - 67.6% Ongoing Phase VI: onwards - 17% of Reve
Slide 38: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 18 Sarjapur 4 Bangalore Residential 1.60 Own 100% owned project Forthcoming 19 Whitefield Bangalore Residential 2.50 Own 100% owned project, 5.4% area share t
Slide 39: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 34 Godrej Park Mumbai Residential 0.77 Own Revenue Based – 56.5% Forthcoming 35 Godrej Vihaa Mumbai Res idential 1.30 DM DM Fee – 10% of Revenue Ongoing Profi
Slide 40: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 51 Godrej Nirvaan Mumbai Residential 2.42 JV Profit Share - 50% Ongoing 52 Taloja Mumbai Residential 7.50 JV Profit Share - 55% Forthcoming 53 Ambernath Mumba
Slide 41: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 69 Godrej Infinity Pune Residential 2.79 JV Profit Sharing - 35% Ongoing Revenue Based 96% (GPL owns 49% equity in project 70 Godrej 24 Pune Residential 0.49
Slide 42: B. Commercial Projects
B. COMMERCIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based 73.6% 1 Godrej Garden City* Ahmedabad Residential 2.40 Own Phase V : Revenue Based - 67.6% Ongoing Phase VI : onwards - 17% of Revenu
Slide 43: Thank You
THANK YOU For further information, please contact: Rajendra Khetawat Godrej Properties Limited Tel: +91 22 6169 8500 Fax: +91 22 6169 8888 Email: rajendra@godrejproperties.com 38 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19 42 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY21
Slide 44: Press Release: Consolidated Financials for Q4 FY21 Results
GODREJ PROPERTIES LIMITED CIN : L74120MH1985PLC035308 Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express Highway, Mumbai – 400079 PRESS RELEASE Consolidated Financials for Q4 FY21 Results GPL’s best ever quarter for sales - booking value stood at I
Slide 45: Press Release: Other Highlights and Chairman's Comment
Other Highlights Highest ever quarterly collection of INR 2,041 crore leading to net operating cash flow of INR 785 crore in Q4 FY21 Delivered ~2.3 million sq. ft. in three projects in Q4 FY21 GPL received 42 awards in Q4 FY21 and a total of 69 awards in FY21 Commenting on the performance of Q
Slide 46: About Godrej Properties Limited
About Godrej Properties Limited: About Godrej Properties Limited Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 124–year legacy of excellence and trust with a commitment to