Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q4 FY2020 Earnings Presentation
45 slides from Prestige Estates Projects's earnings presentation, 2020
Slide 1: Investor Presentation Q4/FY20
INVESTOR PRESENTATION Q4/FY20 RESIDENTIAL | OFFICE | SHOPPING MALLS | LUXURY HOTELS | PROPERTY MANAGEMENT BENGALURU | HYDERABAD | CHENNAI | KOCHI | MUMBAI | NCR | PUNE | GOA | MYSURU AND MORE… W W W . P R E S T I G E C O N S T R U C T I O N S . C O M PRESTIGE AUGUSTA GOLF VILLAGE, SHOT AT LOCATION
Slide 2: Presentation Index
Presentation Index KEY HIGHLIGHTS SEGMENT REVIEW ABOUT PRESTIGE 1.Residential 1.Scale 1.Operational Highlights 2.Office 2.Business Model 2.Financials Highlights 3.Shopping Malls 3.Board & Management 3.Guidance vs Achieved 4.Hospitality 4.Shareholding 5.Property Management
Slide 3: Q4FY20 Operational Highlights
3 Q4FY20 Operational Highlights PRESALES COLLECTIONS LAUNCHED COMPLETIONS ₹ 12,085 mn ₹ 13,388 mn 7.40 mn sf 2.56 mn sf From 2.05 mn sf Across Segments Across Segments PG SHARE PG SHARE And Geographies And Geographies ₹ 9963 mn from ₹ 10909 mn 1.74 mn sft 3
Slide 4: Q4FY20 Launch – 7.4 mn sf TDA
Q4FY20 Launch – 7.4 mn sf TDA 4.6 Mn sf 2.7 Mn sf 0.1 Mn sf Prestige Finsbury Park Prestige Sky Tech Prestige Hillcrest Bengaluru Hyderabad Ooty 4
Slide 5: Q4FY20 Completions - 2.56 mn sf TDA
Q4FY20 Completions- 2.56 mn sf TDA Cessna Business Park Prestige Star Tech Prestige Phoenix Block 10 1.79 mn sf TDA 0.07 mn sf TDA 0.7 mn sf TDA (PGS 51%) (PGS 50%) 5
Slide 6: FY20 Operational Highlights
FY20 6 Operational Highlights PRESALES COLLECTIONS LAUNCHED COMPLETIONS ₹ 45,607 mn ₹ 46,756 mn 17.12 mn sf 19.32 mn sf from 6.53 mn sf Across Segments Across Segments PG SHARE PG SHARE And Geographies And Geographies ₹ 37,805 mn from ₹ 37,550 mn 5.46 mn sft Up to >30mn, ₹ 30mn, , 1% 4% Up to ₹ 20mn
Slide 7: Sales and Collection yoy Trend
Values in Rs mn Sales and Collection yoy Trend Avg Rs 42185 Mn Avg Rs 38422 Mn 72.3M 74.8M Sales Collections FY15 FY16 FY17 FY18 FY19 FY20 FY15 FY16 FY17 FY18 FY19 FY20 50135 46756 45571 45607 41232 42684 44085 38843 39513 31498 33137 24585 VS FY15 FY16 FY17 FY18 FY19 FY20 FY15 FY16 FY17 FY18 FY19 F
Slide 8: Launch and Completion Trend
Area in mn sf Launch and Completion Trend Avg 13 Mn sf 72.3M Avg 9.3 Mn sf 74.8M Launch Completions FY15 FY16 FY17 FY18 FY19 FY20 FY15 FY16 FY17 FY18 FY19 FY20 17.12 14.63 24.09 19.32 VS 8.35 7.07 6.63 12.74 8.92 7.96 1.98 4.71 FY15 FY16 FY17 FY18 FY19 FY20 FY15 FY16 FY17 FY18 FY19 FY20 Launch yoy t
Slide 9: Annuity Portfolio – Exit rental growth
Values in Rs mn Annuity Portfolio – Exit rental growth CAGR 22% CAGR 21% Rental pa (PGS) 10496 8255 6255 5717 5141 3840 FY15 FY16 FY17 FY18 FY19 FY20 FY15 FY16 FY17 FY18 FY19 FY20 9
Slide 10: Q4FY20 Financial Highlights
1 0 Q4FY20 Financial Highlights ₹ 20,169 mn ₹ 5,342 mn ₹ 511 mn 26.5% EBITDA REVENUE EBITDA PAT 2.5% PAT 10
Slide 11: FY20 Financial Highlights
1 1 FY20 Financial Highlights ₹ 82,433 mn ₹ 24,745 mn ₹ 5,486 mn 30% EBITDA ₹ 52,841 mn (PY) ₹ 15,660 mn (PY) ₹ 4,419 mn (PY) EBITDA 7% PAT REVENUE PAT 11
Slide 12: Guidance vs Achieved - FY20
12 Guidance vs Achieved- FY20 91% 104% 171% 193% ₹45,607 Mn ₹46,756 Mn 17.12 mn sf 19.32 mn sf Presales Collections Launch Completions G ₹ 50,000 to 60,000 G ₹ 45,000 to 50,000 G 10 to 12 mn sf G 10 to 12 mn sf 1.46x 74% 110% 165% 1.49 mn sf ₹10496 mn ₹ 82433 mn Debt to Equity Leasing Exit rentals T
Slide 13: Debt Profile: DER at 1.46x
Debt Profile Project Debt - Resi Office Capex Hospitality Capex Retail Capex Rental Securitisation Loans Receivables discounting loans 14% 19% 8% DER at 1.46x Net Debt stood at ₹ 81743 mn, 9% with avg. cost borrowing at 9.82% Networth at ₹ 55886 mn. 1% 49% 13
Slide 14: Business Vertical Review
Business Vertical Review FY 2019-20 Office Retail Hospitality Services Residential Others Total Revenue 6,816 5,228 4,149 5,589 57,155 - 78,937 EBITDA 6,219 2,522 1,252 1,027 10,055 - 21,075 EBITDA % 91% 48% 30% 18% 18% 27% Depreciation 1,621 998 1,418 76 205 - 4,318 EBIT 4,598 1,524 (166) 951 9,850
Slide 15: Residential Segment Review
RESIDENTIAL SEGMENT REVIEW Diversifies price points across mid/luxury segment Now in 11 locations 118 Projects 28 Projects 17 Projects 89 mn sf 32 mn sf 31 mn sf COMPLETED ONGOING UNDER PLANNING CRISIL HDFC FCF of DA 1 Capital Rs 127,391 mn Graded Development With Low Projects Platform 15 Inventory
Slide 16: Ongoing Projects - 32 mn sf TDA
Ongoing Projects- 32 mn sf TDA S.No. Project City/State TDA in Mn Sft Economic Interest Prestige Share (Mnsft) 1 Prestige Botanique Bengaluru 0.10 55 0.06 2 Prestige Dolce Vita Bengaluru 0.16 60 0.10 3 Prestige Elysian Bengaluru 1.11 31 0.34 4 Prestige Fairfield Bengaluru 0.54 27 0.15 5 Prestige Fin
Slide 17: FCF from Under Construction Projects
₹75,991 Mn FCF from Under construction Projects Particulars Area in Mn Sft ₹ Mn % Total Developable Area 88.20 Car Park Area 23.89 Total Saleable Area 64.32 PG area share 50.35 Estimated Value 3,31,721 Sold 36.82 2,39,730 73 Collections 1,94,994 Balance to collect 44,736 Stock 13.53 91,991 27 Stock
Slide 18: FY2021 Upcoming Launch Pipeline
FY2021 Upcoming Launch Pipeline S.No. FY21 Launch - Project State/City TDA in Mn Sft Economic Interest Prestige Share (Mnsft) 1 Prestige Green Gables Bengaluru 0.93 60 0.56 2 Prestige Primrose Hills Bengaluru 1.90 68 1.29 3 Prestige Smart City Apt Bengaluru 10.08 60 6.05 4 Prestige Waterford Bengalu
Slide 19: FCF from Under Planning Projects
₹51400 Mn FCF from Under Planning Projects Particulars Area in Mn Sft ₹ Mn Total Developable Area 30.71 Car Park Area 4.93 Total Saleable Area 25.79 PG area share 21.82 Estimated Value-A 1,22,608 Cost of Development 86,184 Incurred as of Q4F20 12,343 Balance to spend-B 73,841 RD Paid-C 2,633 Free Ca
Slide 20: Office Portfolio
OFFICE PORTFOLIO 111 Projects 12 Projects 12 Projects 36 mn sf 15 mn sf 22 mn sf COMPLETED ONGOING UNDER PLANNING ₹7,140 Mn ₹15,311 Mn ₹22,451 Mn Yielding Incremental Total rental portfolio rental near pa term By 2024/25 20
Slide 21: Operating Assets
Operating Assets S.No. Project Name Segment Leasable Area Interest (%) Prestige Share Rent P.A. 1 Cessna (B1 to B9 & B11) Commercial 3.68 85.00 3.13 2,211 2 Cessna (B10) Commercial 0.43 85.00 0.36 353 3 Exora Business Park -Phase I-III Commercial 2.14 100.00 2.14 1,705 4 Prestige Logistic Centre Com
Slide 22: Ongoing Projects - 15 mn sf TDA
Ongoing Projects- 15 mn sf TDA Projects Location TDA PGS% PGS Prestige Tech Cloud Bengaluru 4.65 86.00 4.00 Prestige Sky Tech Hyderabad 2.71 67.00 1.82 Prestige Tech Pacific Park Bengaluru 1.65 62.95 1.04 Prestige Tech Park IV Bengaluru 1.58 100.00 1.58 Prestige Alpha Tech Pune 1.17 66.75 0.78 Prest
Slide 23: Upcoming Projects - 22 mn sf TDA
Upcoming Projects- 22 mn sf TDA Projects Location TDA PGS% PGS Prestige Tech Habitat Bengaluru 4.24 68.00 2.88 Prestige Beta Bengaluru 4.07 80.00 3.25 Prestige Tech Forest Bengaluru 2.75 68.00 1.87 Prestige Tech Hills Hyderabad 2.29 100.00 2.29 BKC Mumbai 2.16 50% 1.08 Prestoge Techzone Bengaluru 1.
Slide 24: Shopping Malls Segment Review
SHOPPING MALLS SEGMENT REVIEW Foot Falls Of Over 75 Mn During Fy20 Good tenant mix with consistent trading density 10 Projects 3 Projects 4 Projects 7 mn sf 3 mn sf 4 mn sf COMPLETED ONGOING UNDER PLANNING ₹3,356 Mn ₹2,676 Mn ₹6,032 Mn Yielding Incremental Total rental portfolio rental near pa 24 te
Slide 25: Operating Assets
Operating Assets S.No. Project Name Segment Leasable Area Interest (%) Prestige Share Rent P.A. 1 Forum Sujana Mall Hyderabad Retail 0.82 100.00 0.82 978 2 Forum Fiza Mall Retail 0.67 68.00 0.46 145 3 Forum Vijaya Mall Retail 0.64 50.00 0.32 419 4 Forum Mall Shantiniketan Retail 0.62 64.90 0.40 401
Slide 26: Ongoing and Upcoming Projects
Ongoing Projects- 3 mn sf TDA Upcoming Projects- 4 mn sf TDA Projects Location TDA PGS% PGS Projects Location TDA PGS% PGS Forum One OMR Chennai 1.45 47.60 0.69 Falcon City Forum Mall Bengaluru 1.27 35.70 0.45 Forum Neighbourhood Mall Kochi 0.52 70.00 0.36 Forum Thomsun Kochi 1.06 50.00 0.53 Forum 1
Slide 27: Luxury Hotels & Resorts
Luxury Hotels & Resorts 1262 1229 567 Keys Keys Keys COMPLETED ONGOING UNDER PLANNING ₹3,275 Mn ₹2,506 Mn ₹5,781 Mn Yielding Incremental Total rental portfolio rental near pa term By 2024/25 27
Slide 28: Ongoing and Upcoming Hotel Projects
Ongoing Projects- 3 mn sf TDA Upcoming Projects- 4 mn sf TDA Projects Location Keys PGS% PGS Projects Location Keys PGS% PGS Prestige Hillside Retreat- Tribute Bengaluru 102 100.00 102 JW Marriott Hotel Bengaluru 297 100.00 297 Moxy Bengaluru Sarjapur Bengaluru 200 60.00 120 DIAL Delhi 932 50.00 466
Slide 29: Property Management Portfolio
PROPERTY MANAGEMENT PORTFOLIO ₹ 5826 Mn ₹ 10,000Mn Revenue Incremental Revenue Per Annum Per Annum 11 Locations 271 mn sft Across Asset Total Area class and management services near term 29
Slide 30: Summary & Growth Trajectory - Rental pa, near term
Summary & Growth Trajectory- ₹ 34,264 Mn rental pa, near term Area in Mnsqft Value in ₹ Million 1. OFFICE Values Based on current rental rates And excludes rentals from property mgt portfolio UNDER Value in ₹ Million OPERATING CONSTRUCTION UPCOMING TOTAL GLA 11.97 7.16 16.55 35.69 Economic Interest
Slide 31: Land Bank
Land Bank S.No. Entity Name Location (Acres) Interest Share (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi,Bengaluru 143 100% 143 2 Village De Nandi Pvt Ltd Bengaluru 25 100% 25 3 Eden Investments Goa 74 78% 58 4 Prestige Estates Projects Ltd Zenith,Perumbakam/Chennai 20 66% 13 Total 262 239 Pote
Slide 32: 32+ Years of trust
32+ Years Of trust… Residential | Office | Shopping Malls | Hospitality | Property Management 32
Slide 33: 247 Projects, 300+ Awards
247 Projects across 134 mn sf Completed since inception 300+ Awards Residential | Office | Shopping Malls | Hospitality | Property Management
Slide 34: Product Mix - Under Construction Projects
Product Mix- Under construction Projects 3% 2% 1% 6% 5% 8% Ahmedabad Bengaluru Residential Chennai Plotted Development 18% Delhi 29% Commercial Hyderabad Retail Kochi 58% Hospitality 60% Mangaluru 5% Ooty Pune 3% 2% Developable Area Developable State/City No. of Projects (Mnsf) Segment No. of Projec
Slide 35: Product Mix - Under Planning Projects
Product Mix- Under Planning Projects 1% 5% 7% 2% 1% 5% Bengaluru 8% Chennai Residential 1% Goa Plotted Development 49% Hyderabad Commercial Kochi 39% Retail 12% Mangaluru Hospitality Mumbai 66% Noida 4% Developable Developable Area Segment No. of Projects Area (Mnsf) State/City No. of Projects (Mnsf
Slide 36: Scale of Operation | Summary
Scale of operation | Summary Area In mn sf Area in mn sf Residential Commercial Retail Hospitality Plotted Development Total Particulars Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Completed Projects 110 81.44 111 35.80 10 7.08 8 2.56 8 7.42 247 134.30 Ongoing Projects 27 30.46 12 15
Slide 37: Shareholding and Research Coverage
Shareholding Promoters 65.48% FIIs 30.47% DIIs 2.81% Retail 1.24% Research Coverage 1 Axis Capital Limited 8 ICICI Securities 2 Bank of America Merrill Lynch 9 JM Financial 3 Citigroup 10 J.P. Morgan 4 CLSA 11 Kotak Securities 5 Elara Capital 12 Macquarie 6 Goldman Sachs 13 Morgan Stanley 7 HDFC sec
Slide 38: 300+ Awards & Recognitions
300+ Awards & Recognitions MOST TOP INDIAN CERTIFICATE 300+ ADMIRED REAL ESTATE OF AWARDS SHOPPING COMPANY EXCELLENCE CENTER ADMIRED MOST BUILDER OF DEVELOPER BRAND OF PROMISING THE YEAR OF THE YEAR ASIA BRAND …AND MANY MORE
Slide 39: Prestige Foundation – COVID-19 Relief activities
Prestige Foundation – COVID-19 Relief activities With the nationwide lockdown lakhs of people were suffering from hunger and there was an urgent requirement of safe and nutritious food, Prestige Group together with various local authorities collaborated to help the most vulnerable families across Be
Slide 40: Prestige Foundation – COVID-19 Relief activities
Prestige Foundation- COVID-19 Relief activities Bengaluru Provided 2.2 million Safety kits, The Group Meals and dry Hyderabad gloves, masks, through its Ration Soaps, foundation has provided Chennai Sanitizers & provided over 2.2 during the Other lockdown Mysuru & Kochi essentials million cooked mea
Slide 41: Board
Board Irfan Razack Rezwan Razack Noaman Razack Uzma Irfan Chairman & Managing Director Joint Managing Director Whole-time Director Whole-time Director Dr. Pangal Ranganath Nayak Neelam Chhiber Jagdeesh K. Reddy B.G. Koshy Noor Ahmed Jaffer Independent Independent Independent Independent Independent
Slide 42: Executive Management
Executive Management Faiz Rezwan Zaid Sadiq Anjum Jung Zayd Noaman Executive Director- Executive Director- Executive Director- Interior Design Executive Director- CMD’s Office Contracts & Projects Liasion & Hospitality Omer Bin Jung Nayeem Noor Zackria Hashim Venkat K Narayan Executive Director- Hos
Slide 43: Executive Management
Executive Management Suresh Singaravelu Swaroop Anish Arvind Pai Executive Director- Retail, Executive Director- Business Executive Director- Legal Hospitality Development V.V.B.S. Sarma Lt. Col. Milan Khurana (Retd.) V. Gopal Chief Financial Officer Executive Director – HR, IT & Admin Executive Dir
Slide 44: Disclaimer
DISCLAIMER This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which ar
Slide 45: Thank You
THANK YOU WE HAVE MOVED TO OUR NEW OFFICE For any queries Please contact, E: investors@prestigeconstructions.com Registered Office- No. 19, Brunton Road,( Off M.G Road ) Bangalore 560 025 Landmark- Trinity Metro Station T: +91 -80 –25001 248, F: + 91 –80 -25591945, Website: www.prestigeconstructions
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