Capitaland India Trust · SGX:CY6U
Capitaland India Trust — Ascendas India Trust — Q3 FY2007/08 Earnings Presentation
36 slides from Capitaland India Trust's earnings presentation, Jan 23, 2008
Slide 1: 3Q FY2007/08 Financial Results Presentation
3Q FY2007/08 Financial Results Presentation 23rd January 2008 1 Singapore’s First Listed Indian Property Trust
Slide 2: Disclaimers
Disclaimers This Presentation is focused on comparing results for the three months ended 31 December 2007. This shall be read in conjunction with a-iTrust’s announcement of results for 3Q FY2007/08 in the SGXNet announcement. This presentation may contain forward-looking statements that involve risk
Slide 3: Agenda
Agenda • Overview • Financial Results • Growth Strategy • Full Year Forecast 3
Slide 4: Agenda
Agenda • Overview • Financial Results • Growth Strategy • Full Year Forecast 4
Slide 5: Key Highlights
Key Highlights Strong Net Property Income in 3Q FY07/08 of S$15.7M, 57% higher than 3Q last year, 2% higher than 2Q this year. Distributable income for 3Q FY07/08 was S$11.3M. Distribution per Unit (DPU) was 1.50 Singapore cents, to be distributed with 4Q FY2007/08 as a-iTrust adopts semi-annual dis
Slide 6: Key Highlights
Key Highlights 1.8 mil sq. ft. of SBA renewed or leased at higher average rental rates in the first nine months of FY2007/08. Renewal / retention rate of expired leases was a resounding 91%. Portfolio occupancy rate for a-iTrust’s initial 3.6M sq ft is at 99% (31 Dec 07). Combined occupancy rate for
Slide 7: Agenda
Agenda • Overview • Financial Results • Growth Strategy • Full Year Forecast 7
Slide 8: Financial Results – 3Q 2007/08
Financial Results – 3Q 2007/08 Actual Actual Variance Reasons 1 Oct – 31 Dec 1 Oct – 31 Dec (%) 2007 2006 (S$ ‘000) (S$ ‘000) Total 26,970 16,843 60% • Larger portfolio Property • Stronger occupancy Revenue • Rising average rental rates Net Property 15,707 10,013 57% • Stronger revenue Income • Cont
Slide 9: Distribution Per Unit
Distribution Per Unit Period 1 Apr 2007 to 31 Dec 2007 3Q Distribution Per Unit 1.50¢ per unit YTD Distribution Per Unit 4.45¢ per unit Annualised Yield * 5.0% Distributions are paid on a semi-annual basis, for the six-month periods ending 31 March and 30 September of each year. * Based on $1.18 IPO
Slide 10: Agenda
Agenda • Overview • Financial Results • Growth Strategy • Full Year Forecast 10
Slide 11: Growth Strategy
Growth Strategy Mar 07 Organic Operating Total Owned SBA of 3.6 mm sq ft Buildings Completed Total Owned SBA of 1.1 mm sq ft Proposed Development Buildings Completed in 3Q & 4Q FY07/08 5.3 mm sq. ft. Proposed Upcoming SBA of = 148% of operating Developments 1.5 mm sq ft buildings Land Available Pote
Slide 12: Organic Growth - High Retention Rate
Organic Growth - High Retention Rate Lease Activities From 1 April to 31 Dec 2007 1,752,000 1,800,000 1,600,000 Forward 1,400,000 Leasing2 872,000 1,200,000 Area (Sqft) 880,000 1,000,000 91% 800,000 Retention New 336,000 526,000 Bldg1 600,000 880,000 354,000 400,000 New Existing 190,000 Bldg1 336,00
Slide 13: Organic Growth - Stability
Organic Growth - Stability High Occupancy Rates 100% 100% 99.6% 98.8% 98.4% 95% 90% 85% 80% 75% 70% 65% 60% 55% 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% ITPB ITPC The V CyberPearl Portfolio Weighted Average Occupancy as at 31 Dec 07 is 99.5% Note: This is based on initial portfolio of 3.6 mil sq ft
Slide 14: Organic Growth - Lease Expiry Profile
Organic Growth - Lease Expiry Profile Existing Buildings Portfolio Lease Expiry Profile New Buildings Sq. ft. expiring (Vega & Crest) 1,200,000 26.6% 2.0% 1,100,000 1,000,000 900,000 800,000 15.4% 27.3% 700,000 12.6% 600,000 500,000 400,000 4.8% 6.8% 300,000 200,000 4.5% 100,000 - Financial Financia
Slide 15: Organic Growth - Stability
Organic Growth - Stability Strong Tenant Base Geographical Diversification of Properties Operating and Newly Completed Buildings Total Number of Tenants 220 Average space Bangalore Hyderabad 17,350 sq. ft. 36% per tenant 36% Each tenant contributes Chennai no more than 6% 28% of the portfolio base r
Slide 16: Organic Growth - Tenant Development
Organic Growth - Tenant Development Tenant sector by base rental IT/ITES IT/ITES 11.9% 11.5% ITES ITES 17.0% 19.6% IT 55.1% IT 58.8% R&D 6.6% R&D 7.0% F&B F&B 0.9% 0.8% Others Others 5.3% 5.5% 30th September 2007 31st December 2007 Tenants from the IT sector increased as most of the new tenants in t
Slide 17: Work Live Play at Ascendas India Trust Parks
Work Live Play at Ascendas India Trust Parks Selected events across the parks Musical Tamola The V Health & Lifestyle Meet Voice of Bangalore Rocking Dandiya Night 17
Slide 18: Work Live Play at Ascendas India Trust Parks
Work Live Play at Ascendas India Trust Parks World Environmental Day Art exhibition Spastic society of Tamil Nadu exhibition 18
Slide 19: Work Live Play at Ascendas India Trust Parks
Work Live Play at Ascendas India Trust Parks An evening with CyberPearl Sankranti celebration: Kite flying and Rangoli competitions 19
Slide 20: Newly Completed: Vega
Newly Completed Completed Building – additional 408,000 sq. ft. SBA Vega 5th Building @ The V (Hyderabad) Strong take-up rate of 90% as at 23 Jan 08, at about prevailing base rent of The V and higher fitout revenue than expected 408,000 sq ft SBA building comprising office retail and cafeteria space
Slide 21: Newly Completed
Newly Completed Vega - 5th Building @ The V (Hyderabad) 21
Slide 22: Newly Completed
Newly Completed Vega - 5th Building @ The V (Hyderabad) Vega Lobby Vega Cafeteria 22
Slide 23: Newly Completed: Crest
Newly Completed Completed Building – additional 730,000 sq. ft. SBA Crest 2nd Building @ International Tech Park, Chennai (Chennai) Strong take-up rate of 91% as of 23 Jan 08, at rentals about 19% higher than prevailing base rent of ITPC Building comprising 660,000 sq. ft. office & 70,000 sq. ft. re
Slide 24: Newly Completed
Newly Completed Crest - 2nd Building @ International Tech Park, Chennai (Chennai) Tenants Fit-out Under Progress 24
Slide 25: Development
Development 3 property development in the parks – additional 1.5 million sq. ft. • Works on additional development are also in progress. Proposed 1.5 million sq ft of space is in various stages of execution. • S$140 million loan at SOR + 70 basis points organised to fund these works. BTS for Avestha
Slide 26: Development
Development Further development in ITPB – additional 2.7 million sq. ft. • Master plan to develop balance 2.7 million sq ft of space in ITPB completed. • Plans are being prepared for submission to government for first phase of the development. 26
Slide 27: Agenda
Agenda • Overview • Financial Results • Growth Strategy • Full Year Forecast 27
Slide 28: Stable & growing distribution and attractive total return profile
Stable & growing distribution and attractive total return profile Forecast Forecast & & Projected Projected DPU DPU (S$ (S$ cents) cents) At an Offering Price of S$1.18/Unit 6.85 +22% 5.60 FY 31 Mar 08 FY 31 Mar 09 Attractive total return profile Initial yield1 DPU growth2 Total return 4.75% (IPO pr
Slide 29: Year to Date Performance For FY 2007/08
Year to Date Performance For FY 2007/08 1Q-3Q FY 07/08 1Q-3Q FY 07/08 Total Property Income Net Property Income S$’000 S$’000 26,970 28,000 18,000 15,710 25,290 15,370 26,000 16,000 23,220 13,340 24,000 14,000 22,000 12,000 20,000 10,000 Q1 Q2 Q3 Q1 Q2 Q3 4.45 Singapore cents per unit reflects annua
Slide 30: Full Year Forecast
Full Year Forecast With a high retention rate and higher average rental rates of a- iTrust’s initial portfolio, and the commencement of contribution from the 2 newly completed buildings Vega and Crest (with a high combined occupancy rate of 91%), the Trustee-Manager is confident of at least meeting
Slide 31: Thank You
THANK YOU Ascendas Property Fund Trustee Pte Ltd (Trustee-Manager of a-iTrust) www.a-itrust.com 31
Slide 32: Portfolio Top Ten Tenants
Portfolio Top Ten Tenants Portfolio - Top Ten Tenants in Alphabetical Order Affiliated Computer Services of India Pvt. Ltd. Applied Materials India Pvt. Ltd. C A Computer Associates India Pvt. Ltd. General Motors India Pvt. Ltd. IBM Global Services Pvt. Ltd. Infineon Technologies India Pvt. Ltd. Nip
Slide 33: International Tech Park Bangalore
International Tech Park Bangalore Park Statistics Park Statistics Site area: 69 acres Land Available for Development: Operating buildings: 1.7 mm 24 acres or 2.7 million sq ft SBA sq ft Owned SBA (based on max. plot ratio of 2.5) Proposed Development: Park Population: 20,000 people 744,000 sq ft SBA
Slide 34: International Tech Park Chennai
International Tech Park Chennai Park Statistics Park Statistics Site area: 15 acres Proposed Development: Up to Operating Buildings: 528,000 sq 708,000 sq ft SBA ft Owned SBA Park Population: 7,000 people Completed Building: 810,000 sq ft SBA 34
Slide 35: CyberPearl
CyberPearl Park Statistics Park Statistics Site area: 6 acres – Park Population: 5,000 people Operating Buildings: 431,000 sq ft Owned SBA 35
Slide 36: The V
The V Park Statistics Park Statistics Site area: 19 acres Completed Building: 408,000 sq ft Operating Buildings: 880,000 sq SBA ft Owned SBA Park Population: 7,000 people 36
Ascendas India Trust — Q3 FY2007/08 Earnings Presentation on 6ix