Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Investor Presentation (June 2010)
34 slides from Mahindra Lifespace Developers's investor presentation, Jun 30, 2010
Slide 1: Investor Presentation
Investor Presentation Updated as of 30th June 2010
Slide 2: Disclaimer
Disclaimer This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Develope
Slide 3: Outline
Outline About us Ownership and Financials Real Estate Projects Integrated Business Cities The Way Forward Summary
Slide 4: About Us
About Us
Slide 5: Our Lineage
Our Lineage Two Farm Automotive USD 7.1bn group Wheelers Equipment 65 years of history M&M a founding component of SENSEX Financial Mahindra Services Partners Unlocking synergies across sectors Real Estate & Group values Infrastructure Information Good Corporate Hospitality Citizenship Technology Pr
Slide 6: Mahindra Lifespaces
Mahindra Lifespaces We inherit and uphold We are the first to Transparent business practices Build pre-certified green homes Strong corporate governance Realize an Integrated Business Absolute customer focus City in a public-private partnership Listed on BSE and NSE since 2000 20 mn forthcoming proj
Slide 7: Creating Sustainable Urban Communities
Creating Sustainable Urban Communities First residential developer in India to launch and build green-certified homes 3 Platinum & 2 Gold IGBC pre-certified residential projects Economic, Social, and Environmental sustainability at World Cities Manifold direct and indirect job creation Extensive wat
Slide 8: Ownership and Financials
Ui » Ownership and Financials
Slide 9: Shareholding Pattern
Shareholding Pattern FIIs HSBC Global Investment Swiss Financial Corporation FIIs 22% CAAM Funds India Oppenheimer International Small Company Fund Parent Domestic Financial Domestic funds (M&M) 51% Institutions SBI 12% DSP Blackrock Others 15% Tata UTI As of 30th Jun 2010 Birla Sunlife
Slide 10: Business Model
Business Model Balancing end-to-end presence with focus on adding value Master Design Service Partners Government planners consultants Contractors providers Land Concept Project Facility MLDL acquisition development Approvals management Marketing management Verticals Revenue streams • Real estate •
Slide 11: Financials – Standalone
Financials – Standalone 5000 1600 ` millions ` millions Income growing at a CAGR of 30% EBITDA CAGR = 48% 1400 PAT CAGR = 64% 4000 3,496 1200 EBITDA PAT 1,142 3000 1000 794 800 2000 600 400 1000 200 0 0 FY06 FY07 FY08 FY09 FY10 FY06 FY07 FY08 FY09 FY10 Earnings per share: ` 19.15 in FY10 (+73% YoY)
Slide 12: Financials – Consolidated
Financials – Consolidated 5000 1600 ` millions ` millions Income growing at a CAGR of 19% 4,400 EBITDA CAGR = 35% 1,392 1400 PAT CAGR = 48% 4000 1200 EBITDA PAT 3000 1000 785 800 2000 600 400 1000 200 0 0 FY06 FY07 FY08 FY09 FY10 FY06 FY07 FY08 FY09 FY10 Earnings per share: ` 18.93 in FY10 (+20% YoY
Slide 13: FY11 Q1 Results – Standalone
FY11 Q1 Results – Standalone 800 679 ` millions Total income 700 +44% EBITDA 600 PAT 500 400 300 206 +47% 145 200 +39% 100 Construction on schedule Goregaon, Bhandup, Pune, Faridabad, Chennai 0 Q1 FY10 Q1 FY11 Earnings per share: ` 3.54 in Q1 (+39% YoY) Sale of residential units (MLDL + subsidiaries
Slide 14: Stock Price Movement
Stock Price Movement 160 MLDL (NSE) S&P CNX Nifty 135 CNX Realty Index 110 85 60 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Outperformed major indices and competition over last two quarters
Slide 15: Real Estate Projects
Ui » Real Estate Projects
Slide 16: Approach to Real Estate Development
Approach to Real Estate Development Customer Centric approach Healthy Spaces. Healthy Living Transparent customer interface Robust Corporate Governance Pan-India but focused cities Residential focus; Premium and Mid-market segments
Slide 17: Real Estate JVs
Real Estate JVs 51% M&M MLDL TIDCO 74% ARCH Capital 11% 49% 83% 26% 51% MWCDL MITL MRDL 70% 6% 30% MBDL B E Bilimoria Mahindra Group Currently 3 Residential Subsidiaries MRDL – operational; 1.52 mn sq.ft. DFP MITL – to be operational soon; 11.80 mn sq.ft DFP MBDL – to be operational soon; 1.33 mn sq
Slide 18: Projects Snapshot
Projects Snapshot Location Completed Ongoing Forthcoming Land bank Chennai 0.59 0.37 1.95 11.00 Mumbai 2.72 0.95 0.60 0.59 Pune 1.23 0.33 - 2.10 NCR 1.29 0.66 0.93 - Nagpur - - 1.33 - Hyderabad - - - 1.00 Nasik - - - 0.60 Bangalore 0.05 - - - Category total 5.88 2.31 4.81 15.29 All areas in mn sq.ft
Slide 19: Ongoing Projects Status
Ongoing Projects Status Last Selling Total Launch % sold Completion Location Project Name Company Basic Price date mn sq.ft units (area) date (`/sq.ft) Mumbai Splendour Phase 1 MLDL Q4 FY08 7,300 0.416 264 99% Jun 2011 Splendour Phase 2 MLDL Q4 FY10 7,300 0.385 246 43% Jun 2012 Eminente Phase 2 MLDL
Slide 20: Forthcoming Projects and Land Bank
Forthcoming Projects and Land Bank Location Project Company DFP (mn sq.ft) Mumbai Ghatkopar Project MLDL 0.20 Eminente Phase 3 MLDL 0.15 GE Garden* (R&C) MLDL 0.25 Forthcoming NCR Aura subsequent phases MLDL 0.93 projects Chennai Aqualily subsequent phases MRDL 1.15 Iris Court MITL 0.80 Nagpur MIHAN
Slide 21: Integrated Business Cities
Integrated Business Cities Chennai | Jaipur
Slide 22: Mahindra World City
Mahindra World City Preferred partner of state governments MLDL Mahindra Group 74% 83% 6% RIICO TIDCO 26% 11% MWCJL MWCDL Two operational, Integrated Business Cities (IBCs) spread over 4,600 acres Fully integrated “Work, Live, Learn, Play” communities – industrial, residential, social and educationa
Slide 23: MWC Chennai
MWC Chennai India’s first Integrated Business City in PPP mode Spread over 1,550 acres Three SEZs (IT/ITES, Apparel and Auto Ancillaries) and a Domestic Tariff Area (DTA) 325 acre Integrated Township area Award-winning master plan by Jurong and HOK Infosys – IT SEZ, MWC Chennai
Slide 24: MWC Chennai – Area Statement
MWC Chennai – Area Statement Apparel & Fashion Accessories SEZ IT SEZ PA 90 acres (100 % leased) 52 acres (100% leased) 284 acres (100% leased) Auto ancillary SEZ Land for infrastructure and common areas 330 acres IT SEZ NPA 247 acres (100% leased) 59 acres (11% leased) DTA non-industrial DTA indust
Slide 25: MWC Chennai – Customers
MWC Chennai – Customers IT SEZ Sundram Fasteners DTA Netafim Infosys Technologies Armstrong Timken Engineering Parker Hannifin Mind Tree* B. Braun Medical UCAL Fuel Systems Sharda Motor Industries Renault Nissan* BMW India Shell Tech Mahindra* Apparel SEZ CII SMC Pneumatic AI Enterprises Helios & Ma
Slide 26: MWC Jaipur
MWC Jaipur 3,000 acre Integrated Business City, with a multi-product SEZ and a Domestic Tariff Area Operational in July 2008 – 19 months from commissioning Currently has three sector-specific SEZs 700+ acres of residential and social infrastructure Amphitheatre – MWC Jaipur
Slide 27: MWC Jaipur – Project Area
MWC Jaipur – Project Area IT SEZ PA Manufacturing PA NPA 555 acres 482 acres 717 acres Infrastructure and common areas 936 acres DTA Non- DTA industrial industrial 285 acres 25 acres * as per multi-product SEZ + DTA plan
Slide 28: MWC Jaipur – Area Statement
MWC Jaipur – Area Statement 400+ acres committed so far DTA Lease deeds for 300+ acres 41 acres leased MOUs signed for another 100 acres IT SEZ Light Engg SEZ 221 acres leased 24 acres leased MOUs for 12 acres Handicrafts SEZ 19 acres leased MOUs for 65 acres MOUs for 18 acres Deutsche Bank – Evolve
Slide 29: MWC Jaipur – Customers
MWC Jaipur – Customers IT SEZ Rediprint International QH Talbros Limited Nagarro Software (Jaipur) Samurai Designs & Interiors Dynamic Powertech Truworth KPO Services Kirat Crafts Tijaria International Limited Connexxions IT Services Seesham Handicraft House Arjay Creations LLP Nucleus Software GAD
Slide 30: MWC Growth
MWC Growth Chennai Jaipur Today Projected* Today Projected* Employment 20,000 100,000 2,000 100,000 Investment ` 2,500Cr ` 4,000Cr ` 1,000Cr ` 4,000Cr Exports ` 2,300Cr ` 8,000Cr ` 91Cr ` 6,000Cr * As per customer estimates Mindtree – MWC Chennai Infosys – MWC Jaipur Capgemini – MWC Chennai
Slide 31: The Way Forward
Ui » The Way Forward
Slide 32: Focus Areas
Focus Areas Real Estate Integrated Business Cities Execution excellence Augment social infrastructure Launch, develop and complete at MWC Chennai projects in current land bank 1,000-acre green-field Building presence project at Chennai Geographic expansion Expand customer base and Enter new product
Slide 33: Summary
Summary Translating values of the Mahindra group to the industry Refined business model and differentiation through focus on master planning, sustainability and transparency Volume and geographic expansion of realty projects pipeline Steady progress of World City projects – growing customer base, em
Slide 34: Thank You
Thank You www.mahindralifespaces.com | www.mahindraworldcity.com
Mahindra Lifespace Developers — Investor Presentation (June 2010) on 6ix