Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q1 FY2014-15 Earnings Presentation
63 slides from Prestige Estates Projects's earnings presentation, 2014
Slide 1: Investor Presentation Q1 FY2014-15
INVESTOR PRESENTATION Q1 FY2014-15 1 www.prestigeconstructions.com
Slide 2: Index
Index HIGHLIGHTS OF QI FY 2014-15 OPERATIONAL & FINANCIAL PERFORMANCE SALES SUMMARY DEBT PROFILE RECEIVABLES PROFILE RENTAL PORTFOLIO & LEASING UPDATE PROJECT PORTFOLIO & UPDATE ABOUT PRESTIGE 2
Slide 3: Highlights of Q1 FY 2014-15
HIGHLIGHTS OF Q1 FY 2014-15 3 www.prestigeconstructions.com
Slide 4: Highlights of Q1 FY 2014-15 - Operational Highlights
Highlights of QI FY 2014-15 Operational Highlights In Rs.Mn Quarter I FY 13- Particulars Quarter I FY 14-15 Quarter IV FY 13-14 FY 13 -14 FY 12-13 14 New Sales - Total Amount (Rs. Mn) 14073 8788 11442 44348 37274 Area (Mnsf) 2.27 1.40 1.98 7.41 7.14 Avg Realization/Sft (Rs) 5985 5220 6200 6277 5779
Slide 5: Operational Highlights: New Sales
Highlights of QI FY 2014-15 Operational Highlights For the Quarter ended 30th June 2014 New Sales: The Company has sold 1,277 residential units and 0.04 Mnsft of commercial space, aggregating to 2.27 Mnsft amounting to Rs. 14,073 million of sales, up by 23% as compared to the corresponding Q1 FY 1
Slide 6: Operational Highlights: Collections
Highlights of QI FY 2014-15 Operational Highlights For the Quarter ended 30th June 2014 Collections: Total collections for the quarter aggregated to Rs. 8,867 million, up by 21% as compared to the corresponding Q1 FY 13-14 Prestige share of collections for the quarter aggregated to Rs. 7,607 mil
Slide 7: Sales Q1 FY14 & Q1 FY15
Highlights of QI FY 2014-15 Sales Q1 FY14 & Q1 FY15 (Rs.Mn) 16000 14073 14000 23% 13073 11442 28% 12000 10229 10000 Gross Sales Net Sales 8000 6000 4000 2000 0 Q1 FY 14 Q1 FY 15 7
Slide 8: Sales (QOQ)
Highlights of QI FY 2014-15 Sales (QOQ) (Rs. Mn) 16000 14073 14000 13073 12620 11442 11497 12000 10685 10229 10000 9402 8788 Gross Sales 8000 Net Sales 6007 6000 4000 2000 0 Q1 FY 14 Q2 FY14 Q3 FY14 Q4 FY14 Q1 FY 15 8
Slide 9: Collections QoQ and Q1 comparison
Highlights of QI FY 2014-15 Prestige Share Prestige Share Collection QI FY14 & QI FY15 Collections (Q-O-Q) (Rs. Mn) (Rs.Mn) 8000 7607 7607 8000 7000 6557 16% 6074 6198 25% 5923 7000 11% 6074 6000 6000 5000 5000 4000 4000 3000 3000 2000 2000 1000 1000 0 0 Q1 FY 14 Q2 FY14 Q3 FY14 Q4 FY 14 Q1 FY15 Q1
Slide 10: Rental Income QoQ and Q1 comparison
Highlights of QI FY 2014-15 Prestige Share Prestige Share Rental Income (QOQ) (Rs. Mn) Rental Income-Q1 FY14 & Q1 FY15 (Rs. Mn) 800 746 716 800 746 700 615 30% 592 700 572 600 572 600 500 500 400 400 300 300 200 200 100 100 0 0 Q1 FY14 Q1 FY15 Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY14 Q1 FY15 10
Slide 11: Financial Highlights
Highlights of QI FY 2014-15 In Rs.Mn Financial Highlights Quarter I FY Quarter IV FY Quarter I Particulars FY 13 -14 FY 12-13 14-15 13-14 FY 13-14 Turnover (Rs. Mn) 6156 6591 5293 21525 16064 EBIDTA (Rs. Mn) 1895 1810 1599 6498 5113 EBIDTA % 31% 27% 30% 30% 32% PAT (Rs. Mn) 1041 951 866 3400 2760 PA
Slide 12: Turnover, EBIDTA & PAT
Highlights of QI FY 2014-15 Turnover, EBIDTA & PAT (Rs. Mn) 7000 6591 6156 6000 5293 5041 5000 4600 4000 Turnover EBIDTA PAT 3000 1810 1895 2000 1599 1614 1476 951 1041 866 778 807 1000 0 Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY 14 Q1 FY15 12
Slide 13: Financial Highlights: Quarter ended 30th June 2014
Highlights of QI FY 2014-15 Financial Highlights For the Quarter ended 30th June 2014 Revenue at Rs. 6,156 million considering revenue from operations and other income, up by 16% as compared to the revenue for the corresponding quarter of previous year (Q1 FY14) which stood at Rs. 5,293 Mn. EBID
Slide 14: Business Performance: Launches and Completions
Highlights of QI FY 2014-15 Business Performance Launches/Pre Launches during Q1 FY 14-15 Developable Economic No. of Units No. of Units Sl.No Project Location Segment Area (Mnsf) Interest (Total) (PEPL Share) 1 Prestige Falcon City Phase I Bangalore Residential 4.57 35.70% 1,890 675 2 Prestige Cube
Slide 15: Business Performance: Area Leased
Highlights of QI FY 2014-15 Business Performance Area Leased during Q1 FY 2014-15 Quarter I FY 14-15 As on 30 June 2014 Current Rental Segment Area Yet to Yield Prestige Yielding Area Total Prestige Share Total Share Office 0.63 0.04 10.02 5.20 4.59 0.61 Retail 0.06 0.02 3.39 1.45 0.70 0.75 Total 0.
Slide 16: Financials Update
Prsstiee Add Prestige to your life FINANCIALS UPDATE 16
Slide 17: Balance Sheet as at 30th June, 2014
Financials Balance Sheet as at 30th June, 2014 Rs. Mn As at As at Particulars 30-Jun-14 31-Mar-14 I. EQUITY AND LIABILITIES (1) Shareholders’ funds (a) Share capital 3,500 3,500 (b) Reserves and surplus 27,237 26,211 30,737 29,711 (2) Non-current liabilities (a) Long-term borrowings 2,285 2,360 (b)
Slide 18: Profit & Loss Account for the period ended 30th June, 2014
Financials Profit & Loss Account for the period ended 30th June, 2014 Rs. Mn Quarter ended Year ended Particulars 30-Jun-14 31-Mar-14 30-Jun-13 31-Mar-14 (I) Revenue from Operations 5,631 6,012 4,983 20,052 (II) Other Income 525 579 310 1,473 (III) Total Revenue - (I+II) 6,156 6,591 5,293 21,525 (IV
Slide 19: Key Ratios
Financials Rs. Mn Key Ratios Quarter Ended Year Ended Sl. No. Particulars 30-Jun-14 31-Mar-14 30-Jun-13 31-Mar-14 Ratio/% Ratio/% Ratio/% Ratio/% (Audited) (Unaudited) (Unaudited) (Audited) 1 Sale of Projects & Property Income 5,631 6,012 4,983 20,052 2 Other Income 525 579 310 1,473 3 Total Income
Slide 20: Key Ratios
Financials Key Ratios Rs. Mn Quarter Ended Year Ended Sl. No. Particulars 30-Jun-14 31-Mar-14 30-Jun-13 31-Mar-14 Ratio/% Ratio/% Ratio/% Ratio/% (Audited) (Unaudited) (Unaudited) (Audited) 11 PBT 1,423 23.12% 1,312 20% 1,262 24% 4,882 22.68% 12 Tax 382 361 396 1,482 13 PAT 1,041 17% 951 14.4% 866 1
Slide 21: Sales Summary
SALES SUMMARY www.prestigeconstructions.com 21
Slide 22: Sales Summary
Sales Summary Area in Mnsf Rs. Mn Prestige Share Q1 FY 2015 Q4 FY 2014 Q1 FY 2014 TOTAL FY 2014 TOTAL FY 2013 Area Units Value Area Units Value Area Units Value Area Units Value Area Units Value Residential Mid Income Segment 1.92 1,156 11,819 0.79 516 4,505 1.33 994 7,298 4.65 3,303 26,068 4.01 2,5
Slide 23: Unrecognized Revenue From Projects Under Construction
Unrecognized Revenue From Projects Under Construction Rs. Mn Total sales Cumulative Balance Expected value of unit turnover turnover to be Sl.No Projects timeline to reach sold as at declared upto declared on 25% trigger 30.06.2014 30.06.2014 POC A Residential Projects 1 Prestige Bella Vista 10,123
Slide 24: Unrecognized Revenue From Projects Under Construction
Unrecognized Revenue From Projects Under Construction Rs. Mn Total sales Cumulative Balance Expected value of unit turnover turnover to be Sl.No Projects timeline to reach sold as at declared upto declared on 25% trigger 30.06.2014 30.06.2014 POC 21 Prestige Jade Pavilion 1,013 1,013 FY 15 22 Presti
Slide 25: Project Debtors Summary
Project Debtors Summary Rs. Mn Opening Balance New Sales / Amount Closing Balance as Name of the Project as at 01.04.2014 Adjustment Realised at 30.06.2014 Completed Projects Prestige Cyber Towers 176 (0) 34 142 Prestige Oasis 336 202 58 480 Prestige Shantiniketan 1,064 14 118 960 Prestige Southridg
Slide 26: Project Debtors Summary
Project Debtors Summary Rs. Mn Opening Balance Incremental POC Closing Balance Name of the Project Amount Realised as at 01.04.2014 POC Turnover Adjustment as at 30.06.2014 Other Ongoing Projects Prestige Summer Fields - - - 89 - Prestige Jade Pavilion - - - 106 - Prestige Techvista - - - 9 - Presti
Slide 27: Debt Profile
Debt Profile Rs. Mn Consolidated Particulars Standalone % % Loan * Debt as on 30.06.2014 Sec ured Loan 17,745 100% 30,527 100% a. Projec t Debt - Resi & Comm 13,839 78% 15,990 52% b. Capex Loans - - - Office Space 820 5% 2,996 10% - Retail - - 1,009 3% - Hospitality 1,898 11% 3,008 10% c . Rental Se
Slide 28: Receivables Profile
Receivables Profile Area in Mnsf Revenue Generating Projects Rs. Mn Developable Area 50.50 Cost Car Park Area 10.52 Saleable Area 39.98 106,358 Partner Share Prestige Share Already Balance to be Value NA Value 185,619 Incurred spent Area 9.50 Area 30.48 40,650 68,209 Sales achieved (66%) Stock (34%)
Slide 29: Rental Income
Rental Income Area in Mnsf RENTAL INCOME Rs. Mn OFFICE SPACE RETAIL EXISTING ONGOING UPCOMING EXISTING ONGOING UPCOMING Leasable Area Leasable Area* Leasable Area Leasable Area Leasable Area* Leasable Area 7.11 3.23 4.54 2.02 3.08 1.75 Prestige Share in Prestige Share in Prestige Share in Prestige S
Slide 30: Annualised Projected Exit Rentals for Area Leased
Annualised Projected Exit Rentals for Area Leased Area in Mnsf Rs. Mn Total Leasable PEPL Share of Area Leased - Rent P.a Sl. No Project Name Segment Area Leasable Area Prestige Share (Annualised) Existing Rental Income as on 30 June, 2014 1 Prestige Estates Projects Ltd Commercial 1.62 1.62 1.62 72
Slide 31: Project Portfolio & Update
PROJECT PORTFOLIO & UPDATE www.prestigeconstructions.com 31
Slide 32: Business Segments
Business Segments Malls Retail Office Space Apartments Built to suit Villas Campuses Residential Commercial Townships Our SEZs Plotted Developments Business IT Parks Sub leasing & fit out services Resorts Interior Design Services Hospitality Serviced & Execution Apartments Facilities & Hotels Proper
Slide 33: Product Mix – Segment Wise
Product Mix – Segment Wise Ongoing Projects Upcoming Projects Total Area – 60.26 Mnsf Total Area – 32.30 Mnsf 7% 2% 5% 13% Residential 19% Residential Commercial Commercial Retail Retail Hospitality 78% 76% Developable Segment No. of Projects Developable Area (Mnsf) Segment No. of Projects Area (Mns
Slide 34: Product Mix – Geography Wise
Product Mix – Geography Wise Ongoing Projects Upcoming Projects Total Area – 60.26 Mnsf Total Area –32.30 Mnsf 0% 1% 3% 3% 1% 0% Bangalore 22% 10% Bangalore Chennai Cochin Cochin Hyderabad 4% Hyderabad Mangalore Mangalore Mysore Ooty 73% 83% No. of Developable Developable City City No. of Projects P
Slide 35: Ongoing Projects: Residential
Ongoing Projects Residential Prestige Developable Economic Prestige No of Sl.No Project City Share of Area (Mnsf) Interest Share (Mnsf) Units Units 1 Prestige Golfshire- Villas Bangalore 1.75 100.00% 1.75 228 228 2 Prestige White Meadows -1 Bangalore 1.07 100.00% 1.07 163 163 3 Prestige White Meadow
Slide 36: Ongoing Projects: Residential
Ongoing Projects Residential Prestige Developable Economic Prestige No of Sl.No Project City Share of Area (Mnsf) Interest Share (Mnsf) Units Units 25 Prestige West Holmes Mangalore 0.06 65.00% 0.04 20 13 26 Prestige Tech Vista Bangalore 0.12 60.00% 0.07 30 18 27 Prestige Brooklyn Heights Bangalore
Slide 37: Ongoing Projects: Commercial
Ongoing Projects Commercial Developable Economic Prestige Sl. No Project City Area (Mnsf) Interest Share (Mnsf) 1 Cessna Business Park B8 Bangalore 0.62 85.00% 0.53 2 Cessna Business Park B9-B11 Bangalore 2.94 85.00% 2.50 3 Prestige Khoday Towers Bangalore 0.26 48.53% 0.13 4 Prestige Technopolis Ban
Slide 38: Ongoing Projects: Retail and Hospitality
Ongoing Projects Retail Developable Economic Prestige Sl. No Project City Area (Mnsf) Interest Share (Mnsf) 1 Forum Sujana Hyderabad 1.47 24.50% 0.36 2 Forum Shantiniketan Bangalore 1.06 65.00% 0.69 3 Forum Mysore Mysore 0.55 50.99% 0.28 4 Prestige TMS Square Cochin 0.12 58.00% 0.07 5 Forum Thomsun
Slide 39: Upcoming Projects: Residential
Upcoming Projects Residential Developable Economic Prestige Sl.No Project City Area (Mnsf) Interest Share (Mnsf) 1 Prestige Leela Residences Bangalore 0.36 60.00% 0.22 2 Kakanad Property Cochin 0.80 70.00% 0.56 3 Prestige Greenmoor Bangalore 0.39 25.00% 0.10 4 Prestige South Woods Bangalore 1.28 67.
Slide 40: Upcoming Projects: Commercial and Retail
Upcoming Projects Commercial Developable Economic Prestige Sl. No Project City Area (Mnsf) Interest Share (Mnsf) 1 Kakanad Property Cochin 0.20 70.00% 0.14 2 Prestige Technostar Bangalore 1.65 51.00% 0.84 3 Jacobs Land - IT Park Bangalore 2.81 73.93% 2.08 4 Prestige Tech Park IV Bangalore 1.25 90.00
Slide 41: Land Bank & Projects Under Planning
Land Bank & Projects Under Planning Land Area Economic PEPL Share Sl. No Entity Name Location (Acres) Interest (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi 142.74 100.00% 142.74 2 Prestige Projects Pvt Ltd Bangalore 168.00 32.68% 54.90 3 Prestige Garden Resorts Pvt Ltd Bangalore 7.00 100.00% 7.
Slide 42: About Prestige
ABOUT PRESTIGE www.prestigeconstructions.com 42
Slide 43: Advantage Prestige
ADVANTAGE PRESTIGE Iconic developments like Spearheaded by Real Estate Forum Mall, Prestige Icon, Mr. Irfan Razack & his Shantiniketan, UB City, brothers Prestige Golfshire etc Mr. Rezwan and Legacy Spanning over 28 years Mr.Noaman Razack Awarded with financial rating of A- by ICRA One of South
Slide 44: Strong Presence Across All South Indian States
Strong Presence Across All South Indian States Karnataka •Bangalore •Mysore •Mangalore Tamil Nadu •Chennai •Ooty Kerala •Kochi Andhra Pradesh •Hyderabad Goa 44
Slide 45: Board of Directors
Board of Directors Irfan Razack Rezwan Razack Noaman Razack Chairman & Managing Director Joint Managing Director Wholetime Director Jagdeesh K. Reddy B.G. Koshy Noor Ahmed Jaffer Dr. Pangal Ranganath Nayak Independent Director Independent Director Independent Director Independent Director 45
Slide 46: Executive Management
Executive Management Faiz Rezwan Uzma Irfan Sana Rezwan Zackria Hashim Zaid Sadiq Executive Director Executive Director Executive Director Executive Director Executive Director Contracts & Projects Corporate Comm. Retail Land Acquisition Liasioning & Hospitality Venkat K Narayan V. Gopal Arvind Pai
Slide 47: Shareholding Pattern
Shareholding Pattern SHAREHOLDING PATTERN Mutual Funds Retail 5% 2% FIIs 18% Promoters 75% As on 30 June, 2014 www.prestigeconstructions.com 47
Slide 48: Awards & Recognition
AWARDS & RECOGNITION www.prestigeconstructions.com 48
Slide 49: Awards & Recognition
Awards & Recognition Prestige Group is awarded for one among top 50 brands Prestige Group is awarded as the top Indian Co under Prestige Group is nominated as India''s of Bangalore- Hindustan Times Real Estate Sector- D & B Corporate Real Estate Award Most Promising Brand Asia's 100 Best Real Estate
Slide 50: Awards & Recognition
Awards & Recognition Forum Vijaya Mall- The Best Launch Of The Year” Cessna Business Park- Highly commended industrial Forum-The Most Admired Socially Responsible (South) 2013-14- Images Shopping Centre Awards development in India- Asia pacific International Property Awards Mall of the year (South)
Slide 51: Project Snapshot: A Virtual Tour
PROJECT SNAPSHOT A Virtual Tour www.prestigeconstructions.com 51
Slide 52: Project Snapshots - New Launches during the quarter
Project Snapshots - New Launches during the quarter Prestige Falcon City Phase I Perspective 52
Slide 53: Project Snapshots – Completions during the quarter
Project Snapshots – Completions during the quarter Prestige Technology Park III Excelsior Exora Business Park- Block II 53
Slide 54: Project Snapshots – Residential Projects
Project Snapshots – Residential Projects Current Construction Progress Prestige Ferns Residency Prestige Park View Prestige Bella Vista Prestige Casabella 54
Slide 55: Project Snapshots – Residential Projects
Project Snapshots – Residential Projects Current Construction Progress Prestige White Meadows Prestige Lakeside Habitat Prestige Edwardian Prestige Garden Bay 55
Slide 56: Project Snapshots – Residential Projects
Project Snapshots – Residential Projects Current Construction Progress Prestige Glenwood Prestige Hermitage Prestige Mayberry Kingfisher Towers 56
Slide 57: Project Snapshots – Commercial Projects
Project Snapshots – Commercial Projects Current Construction Progress Cessna Business Park B8 Prestige Falcon Tower Prestige Tech Platina Prestige Trade Tower 57
Slide 58: Project Snapshots – Retail Projects
Project Snapshots – Retail Projects Current Construction Progress Forum Sujana Mall Forum Shantiniketan Mall Mysore Central Mall Forum Mysore Mall 58
Slide 59: Project Snapshots – Hospitality Projects
Project Snapshots – Hospitality Projects Current Construction Progress Marriot CONRAD 59
Slide 60: Guidance vs Achieved
GUIDANCE VS ACHIEVED www.prestigeconstructions.com 60
Slide 61: Guidance Vs Achieved
Guidance Vs Achieved Target for Full Year ( Achieved FY14- Particulars % Achieved FY 14-15) 15 Sales (Rs. Mn) 50,000 14,073 28% Turnover (Rs Mn) 27,000 6,156 23% Collections (Rs. Mn) 28,500-30,000 7,607 27% Launches (Mnsf) 14-16 4.60 33% Completions (Mnsft) 10-12 3.81 38% Leasing (Mnsf) 2.00 0.69 35
Slide 62: 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 63: Thank You
Thank You Prestige Estates Projects Limited Mr. Venkat K. Narayana The Falcon House, Executive Director & CFO No. 1, Main Guard Cross Road, Phone: +91 -80 – 25001280 Bangalore – 560 001 E-mail: investors@prestigeconstructions.com Phone: +91 -80 – 25591080 Fax: + 91 – 80 - 25591945 www.prestigeconstr
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