Puravankara Limited · NSE:PURVA
Puravankara — Q2 FY24 Earnings Presentation
54 slides from Puravankara's earnings presentation, Nov 14, 2023
Slide 1: Stock exchange cover letter on Q2 FY24 results presentation
Date: 14.11.2023 To The General Manager, The Manager, Listing Operations Listing Department, Department of Corporate Services National Stock Exchange of India Limited, BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1, G P. J. Towers, Dalal Street, Fort, Block, Bandra-Kurla Complex, Bandra (E), Mu
Slide 2: Investor Presentation Q2 FY24
INVESTOR PRESENTATION Q2 FY24 Investor Presentation Q2 FY24 1
Slide 3: Table of contents
Table of contents * Company Overview 3 – 11 * Operational Overview – Area and Sales 12 – 16 * Land Bank 17 – 20 * Update on Financials 21 – 24 * Update on Cash flows 25 – 28 * Update on Debt 29 – 33 * Update on inventory : Project Status 34 – 38 * Other corporate information 39 – 51 * Disclaimer 52
Slide 4: Differentiated Brands Offering Wider Customer Base; Larger Market Share
Differentiated Brands Offering Wider Customer Base; Larger Market Share. Plotted Development • Established in 1975, 48 years of experience in real estate development 80+ 21,400 + • India's most reliable real estate Completed residential Homes with Total Area developer, with an established presence p
Slide 5: Company Overview
Company Overview Investor Presentation Q2 FY24 4
Slide 6: Purva Land – Plotted land development
Purva Land – Plotted land development • Dedicated arm for plotted land Bangalore development • Devanhalli (Tivoli Hills) • To cater to the evolving needs of • Rampura (Purva Oakshire) homebuyers and offer a highly • S Medahalli (upcoming project) • Kanakpura (Tree Haven) lucrative investment opportu
Slide 7: Starworth Infrastructure and Construction Ltd
Starworth Infrastructure and Construction Ltd A wholly owned subsidiary focused on technology enabled construction solutions • Order book of more than Rs 1200 crores • Undertakes Residential, Commercial, Infrastructure & Industrial Projects. • 20+ msft Completed & 9+ msft Ongoing • Provides end to e
Slide 8: Industry Update
Industry Update Sales of 80,000 units in Q2- 17% Q-o-Q growth in leasing in 2023 across the residential Q2 2023; 33% increase Y-o-Y sector ential Sector Office Sector 60% Total share of Mumbai, Sales of 72,000 units Continued momentum Bangalore and Hyderabad in launched in Q2- 2023 across space take
Slide 9: Key Business Highlights – Q2 FY24
Key Business Highlights – Q2 FY24 ~INR 1,600 Cr 2.01 msft ~INR 879 Cr ~INR 7,947 Sales Value* Sales volume Customer Collections* Average Realization ₹ per sft Increase in sales by Increase in sales volume by 70% YoY increase indicating Increase by 7% YoY 102% YoY 89% YoY improving operating efficien
Slide 10: Key Business Highlights – H1 FY24
Key Business Highlights – H1 FY24 ~INR 2,725 Cr 3.38 msft ~INR 1,575 Cr ~INR 8,063 Sales Value* Sales volume Customer Collections* Average Realization ₹ per sft Increase in sales by Increase in sales volume by 61% YoY increase indicating Increase by 8% YoY 109% YoY 93% YoY improving operating effici
Slide 11: Operational Highlights – Q2FY23 vs Q2FY24
Operational Highlights – Q2FY23 vs Q2FY24 Sales Value (INR Cr) Customer Collections* (INR Cr) Revenue from projects (INR Cr) 1,000 400 368 1,700 1,600 879 350 1,400 800 300 239 600 518 250 1,100 200 791 800 400 150 100 500 200 50 200 - 0 Q2Y23 Q2FY24 Q2Y23 Q2FY24 Q2Y23 Q2FY24 Volume (msft) Realizati
Slide 12: Operational Highlights – H1FY23 vs H1FY24
Operational Highlights – H1FY23 vs H1FY24 Sales Value (INR Cr) Customer Collections* (INR Cr) Revenue from projects (INR Cr) 2,900 2,725 1,800 800 1,575 1,600 692 2,600 700 1,400 2,300 1,200 600 2,000 977 1,000 500 454 1,700 1,304 800 1,400 600 400 1,100 400 300 800 200 200 500 - H1FY23 H1FY24 H1FY2
Slide 13: Operational Overview: Area and sales
Operational Overview Area and sales Investor Presentation Q2 FY24 12
Slide 14: Sales Q2FY24 vs Q2FY23
Sales Q1FY24 Vs Q1FY23 Based on Bookings Quarter Ended Area Sold Units Sold Sale Value Sale Realization Sep-23 Sep-22 % Sep-23 Sep-22 % Sep-23 Sep-22 % Sep-23 Sep-22 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 0.73 0.36 102% 471 189 149% 736 349 111% 10,039 9,614 4% Provide
Slide 15: Sales H1FY24 vs H1FY23
Sales H1FY24 Vs H1FY23 Based on Bookings Quarter Ended Sale Realization Area Sold Units Sold Sale Value Sep-23 Sep-22 % Sep-23 Sep-22 % Sep-23 Sep-22 % Sep-23 Sep-22 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 1.43 0.58 147% 909 305 198% 1450 565 157% 10,143 9,738 4% Provid
Slide 16: Sales area Classification – Unit Value & Regional contribution
Sales area Classification – Unit Value & Regional contribution Q2FY24 H1FY24 > Rs.2 cr Rs.0 -0.5 Unit Value wise contribution to sales value > Rs.2 cr cr Rs.0 -0.5 cr 12% 14% 9% 9% • Unit Value wise –86% of the Rs.1.5 - 2 cr Rs.1.5 - 2 cr Group’s sales are accounted 8% 10% by units which costs less
Slide 17: Steady Sales Performance
Steady Sales Performance Quarterly Sales Value (in INR Cr) 1600 1600 1400 1200 1126 1007 Our sales trends 1000 831 791 796 continue to soar, with 800 753 597 666 September's pre-sales 570 600 496 513 bookings reaching an 399 400 314 impressive value of 1600 Crores. 200 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY2
Slide 18: Land Bank
Land Bank Artist’s impression of Purva Atmosphere Investor Presentation Q2 FY24 17
Slide 19: Diversified across markets, brands and stages of development
Diversified across markets, brands and stages of development in million sq. ft. Completed Ongoing Land Assets Total (A) (B) (A)+(B) South India Bengaluru 32.16 16.33 27.53 43.86 Chennai 6.54 3.30 3.43 6.73 Hyderabad 2.78 0.05 0.00 0.05 Kochi 1.89 3.97 2.94 6.91 Others 1.70 0.23 0.45 0.68 West India
Slide 20: Ongoing and New Launches
Ongoing and New Launches Non-Bengaluru projects now account for 44% of the share of Provident accounts for 50% of the launch pipeline; in line with the market ongoing and 72% of launch pipeline trends and the Group‘s strategy 8% Launch Pipeline 19% 1% 28% 28% 10% 15% 18% Launch Pipeline 3% Ongoing 4
Slide 21: Launch Pipeline
Launch Pipeline Sr. no Location/ Project Name City Development Model Development Developable Area Inventory that PPL Share in JD Saleable area Expected launch date Type will be opened at (msft) the time of launch Puravankara 1 Bellandur Bengaluru Owned Residential 0.47 0.47 100% 0.47 Q4FY24 2 Amaiti
Slide 22: Update on Financials
Update on Financials Investor Presentation Q2 FY24 21
Slide 23: Consolidated Statement of Profit & Loss for the quarter ended September 30, 2023
Consolidated Statement of Profit & Loss for the quarter ended September 30, 2023 Quarter Ended All numbers in INR Cr Particulars Q2FY24 Q1FY24 Q2FY23 Income from operations • Our revenue from Revenue from projects 368.33 323.26 239.48 projects increased by Other Income 13.24 12.55 13.37 54% to 368 C
Slide 24: Consolidated Statement of Profit & Loss for the half year ended September 30, 2023
Consolidated Statement of Profit & Loss for the half year ended September 30, 2023 Half Year Ended All numbers in INR Cr Particulars H1 FY24 H1 FY23 Income from operations • Our revenue from Revenue from projects 691.59 454.33 projects increased by Other Income 25.79 95.87 52% to 692 Cr in Total Inc
Slide 25: Consolidated Balance sheet as on September 30, 2023
Consolidated Balance sheet as on September 30, 2023 All numbers in INR Cr Equity and Liabilities Sep-23 Mar-23 Assets Sep-23 Mar-23 Unaudited Audited Unaudited Audited Shareholders' Funds Non-Current Assets (a) Equity share capital 119 119 (a) Property, plant and equipment 137 84 (b) Other equity at
Slide 26: Update on Cash flows
Update on Cash flows Investor Presentation Q2 FY24 25
Slide 27: Direct Cashflows
Direct Cashflows All numbers in INR Cr Cash Flow Statement Q1 FY 23 Q2 FY 23 H1 FY 23 Q1 FY 24 Q2 FY 24 H1 FY 24 A Operating Inflows 667 678 1,344 866 891 1,756 Collection from operations 544 674 1,217 866 891 1,756 Collection from other than operations 123 4 127 - - - B Operating Outflows -482 -579
Slide 28: Cash Flow - Trends
Cash Flow - Trends Operating inflows Operating outflows 1,000 891 1,000 800 678 800 592 579 • Operating inflows 600 600 increased by 30% YoY 400 400 & 20% QoQ indicating improvement in 200 200 • customer Operating collections inflows for - - H1FY24 increased by • Simultaneously, Q2 FY 23 Q2 FY 24 Q2
Slide 29: Cash Flow Potential
Cash Flow Potential Puravankara Provident Purva Land Total Balance collections from sold units 1 (A) 1,867 1,335 434 3,636 • Cashflow Visibility of • Cashflow Visibility Rs.6,455 Crores in of Value of Inventory open for sale 2 (B) 4,033 1,224 324 5,581 Rs.6730 Crores next 3-4 years in next 3-4 years
Slide 30: Update on Debt
Update on Debt Investor Presentation Q2 FY24 29
Slide 31: Debt movement pattern
Debt movement pattern All numbers in INR Cr in Rs. Cr Q2FY24 Q1FY24 Q4FY23 Q3FY23 Q2FY23 Q1FY23 Opening Balance 2581 2626 2575 2525 2192 2190 Net Addition (Repayment) 35 -45 51 50 333 2 Debt Outstanding 2616 2581 2626 2575 2525 2192 Less: Cash and Cash Equivalents 624 462 418 440 381 303 Net debt 19
Slide 32: Debt Composition
Debt Composition Debt Composition • Residential project debt has decreased, signaling progress Movement in reducing outstanding Q1FY24 Q2FY24 Q-0-Q loans. Residential 2,139 2,124 -15 • The launch of our commercial projects in the Land 284 321 37 past contributed to a rise in debt. Looking ahead, as
Slide 33: Borrowing Cost Management
Borrowing Cost Management Debt/ sft of under construction area Q2FY24 Q1FY24 Q4FY23 Q3FY23 Q2FY23 Q1FY23 Q4 FY22 Q3 FY22 Q2FY22 Q1FY22 Q4FY21 Q4FY20 Q4FY19 • Through our assertive Net Debt 1992 2119 2208 2135 2144 1889 1846 1857 1860 1848 2299 2536 2743 launches, we have Ongoing Projects (msft) 22 2
Slide 34: Debt Management & Repayment Schedule
Debt Management & Repayment Schedule Amount Particulars (in Rs crore) Group A - Ongoing (including not launched for sale) projects Balance customer collection A 14,037 Repayment Schedule INR Cr • Group’s net debt is Rs 1,992 Crore which Balance cost to go B 7,583 compares favorably Surplus from ongo
Slide 35: Project Status
Project Status Provident Sunworth Investor Presentation Q2 FY24 34
Slide 36: Project Status – Completed Projects as on September 30, 2023
Project Status – Completed Projects as on September 30, 2023 Area Sold Puravankara's JD / JV Share S.No. Project Location Developable Area Total Flats Share - Launched Cumulative Inventory for Developer Developable Area Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % COMPLETED Provident 1 Provi
Slide 37: Project Status – Under Construction as on September 30, 2023
Project Status – Under Construction as on September 30, 2023 Area Sold JD / JV Share for Puravankara's Share - S.No. Project Location Developable Area Total Flats Launched Cumulative Inventory Developer Developable Area Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION Puravank
Slide 38: Project Status – Not yet open for Sale as on September 30, 2023
Project Status – Not yet open for Sale as on September 30, 2023 Developable JD / JV Share Puravankara's Share - S.No. Project Location Total Flats Sold Cumulative Unsold Inventory Area for Developer Developable Area Area Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % PHASES NOT OPEN F
Slide 39: Ongoing (open for sale) Residential Projects- City wise
Ongoing (open for sale) Residential Projects- City wise Puravankara’s Inventory City Total Projects Area Area Launched Sold Area share Msft Mumbai 2 0.87 0.61 0.61 0.32 0.29 Bengaluru 17 10.25 8.40 8.40 5.95 2.44 Chennai 3 2.70 2.13 2.13 0.59 1.54 Kochi 2 2.82 1.68 1.68 1.26 0.42 Pune 3 1.44 1.43 1.
Slide 40: Appendix 1: Other Corporate Information
Appendix 1: Other Corporate Information Investor Presentation Q2 FY24 39
Slide 41: Governance Structure to drive long term growth
Governance Structure to drive long term growth Executive Team Ravi Puravankara Ashish Puravankara Nani R. Choksey Abhishek Kapoor Chairman Managing Director Vice Chairman Executive Director & CEO • Over 45 years of experience in real • Bachelor’s degree in Business • Experience of over 45 years in t
Slide 42: Governance Structure to drive long term growth Contd.
Governance Structure to drive long term growth Contd. Non-Executive Directors Anup Shah Sanmukh Shailaja Jha K G Krishnamurthy Sanjeeb Chaudhuri Non- Executive Independent Non- Executive Independent Non- Executive Independent Non- Executive Independent Director Director Director Director • Bachelor’
Slide 43: Key Strengths/Building a strong strategy/Growth Drivers
Key Strengths/Building a strong strategy/Growth Drivers Land Bank Potential Business Development-Strong pipeline Rich Talent Credit Rating Continued unlocking of development of business development Strong & Experienced Leadership Stable potential . ongoing commitment to business Senior executives in
Slide 44: Shareholding Pattern as of September 30, 2023
Shareholding Pattern as of September 30, 2023 Others, Insurance 8.26% Companies, 0.39% FII & FPI, FPIs 16.35% Gothic Corporation Atyant Capital Insurance and Bodies Corporate Life Insurance Corporation Promoter, General Insurance Corporation 75.00% Notes 1. Promoter Shares are unencumbered Investor
Slide 45: Share Price Movement
Share Price Movement 160 140 120 100 80 60 40 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 PURVA SENSEX BSE REALTY Notes: Graph rebased to 100 Investor Presentation Q2 FY24 44
Slide 46: Awards and Accolades
Awards and Accolades CREDAI CARE 2023 Construction Week Awards 2023 ET EDGE AWARDS NATIONAL SAFETY COUNCIL -2023 Lifetime achievement award for Lifetime achievement award for Iconic Brands of India 2023 State Level Safety Award for SICL Chairman Ravi Puravankara Chairman Ravi Puravankara ET BUSINESS
Slide 47: Appendix 3: Our Completed Projects
Appendix 3: Our Completed Projects PURVA VENEZIA PURVA SKYWOOD PURVA SKYDALE Bengaluru Bengaluru Bengaluru Investor Presentation Q2 FY24 46
Slide 48: Appendix 3: Our Completed Projects
Appendix 3: Our Completed Projects PURVA BLUEMONT PURVA PALM BEACH PURVA ETERNITY Coimbatore Bengaluru Kochi Investor Presentation Q2 FY24 47
Slide 49: Appendix: Ongoing Projects
Appendix 4 : Ongoing Projects PROVIDENT WINWORTH PROVIDENT ADORA DE GOA Kochi Goa Investor Presentation Q2 FY24 48
Slide 50: Appendix: Ongoing Projects
Appendix 4 : Ongoing Projects PURVA ZENIUM PURVA SOMERSET HOUSE Bengaluru Bengaluru Investor Presentation Q2 FY24 49
Slide 51: Appendix: Completed commercial projects
Appendix 5 : Completed commercial projects PURVA PRIMUS PURVA SUMMIT Chennai Hyderabad Investor Presentation Q2 FY24 50
Slide 52: Appendix: Ongoing commercial projects
Appendix 5 : Ongoing commercial projects Purva Aerocity PURVA AEROCITY ZENTECH Bengaluru Bengaluru Investor Presentation Q2 FY24 51
Slide 53: Disclaimer
Disclaimer This presentation has been prepared by Puravankara Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Puravankara Ltd.'s future business prospects and business profitability, which are subject to a number of ri
Slide 54: Thank You
THANK YOU Puravankara Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Corporate Identification Number : L45200KA1986PLC051571 Website:- www.puravankara.com Investor Relations Contact: Mr. Neeraj Gautam, President- Finance Email – neeraj.gautam@puravankara.com; Tel: +91-80-4