Shriram Properties Ltd. · NSE:SHRIRAMPPS
Shriram Properties — Q1 FY25 Earnings Presentation
34 slides from Shriram Properties's earnings presentation, Aug 14, 2024
Slide 1: Exchange filing cover letter for investor presentation
August 14, 2024 National Stock Exchange of India Limited BSE Limited The Listing Department Dept of Corporate Services Exchange Plaza, 5th Floor Phiroze Jeejeebhoy Towers Plot C 1 – G Block Dalal Street, Fort Bandra-Kurla Complex, Bandra (E) Mumbai 400 001 Mumbai 400 051 Scrip Code : 543419 Scrip Co
Slide 2: Investor Presentation Q1FY25 Results
Shriram Chirping Groove, Sarjapur, Bangalore Shriram Solitaire, Yelahanka, Bangalore Investor Presentation Q1FY25 Results August 14, 2024 Shriram Esquire, Koramangala, Bangalore Lakeside Residences, Guduvancheri, Chennai
Slide 3: Disclaimer
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shriram Properties Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, an
Slide 4: Celebrating 25 Years of Excellence: A Snapshot of Shriram's Journey
Celebrating 25 Years of Excellence: A Snapshot of Shriram’s Journey Completed Portfolio: 44 Projects, 24.4 msf development; 18,000+ handed over units Spotless credit profile enabling easy credit access from Lenders Successful partnerships with Global Marquee Investors Remarkable transformation in sc
Slide 5: SPL: Emergence as Credible Mid Market Player in the Region
SPL: Emergence as Credible Mid Market Player in the Region Mid-Market Projects’ Share In overall Portfolio 67% of Completed Projects 67% of Ongoing Projects 93% of Upcoming Projects 100% of FY24 Completed Projects ________________ 4 Note: Includes Plotted Development as Mid-Market segment for the ab
Slide 6: Mid Market Housing: Stable & Long-term growth prospects
Mid Market Housing: Stable & Long-term growth prospects PAN India launch Trends Bangalore Chennai Kolkata 11% 9% 11% 17% 11% 12% 12% 23% 23% 9% 12% 49% 61% 63% 57% 63% 72% 70% 75% 64% 59% 74% 40% 34% 30% 26% 24% 20% 18% 17% 3% 18% 13% 2019 2020 2021 2022 2023 2022 2023 2022 2023 2022 2023 Affordable
Slide 7: Operational Highlights – Q1FY25
Shriram The Poem by Shriram Properties Sunshine, , Jalahalli, Kolkata Bangalore Operational Highlights – Q1FY25 ________________ Note: Data presented herein reflects aggregate for the Company, covering all projects under all development formats viz., Own, JV/JDA and the DM 6
Slide 8: KPI Summary: Q1FY25
KPI Summary : Q1FY25 Sales Volume Sales Value Collection Handovers -9% -18% 10% 51% YOY YOY YOY YOY Q1 FY25 0.70 376 321 535 msf1 Crores Crores No's 14% 28% 16% 50% YOY YOY YOY YOY FY24 4.59 2,362 1,391 3,015 msf1 Crores Crores No's • Muted Q1 Sales but fundamentals remains intact. Confident of deli
Slide 9: Financials Snapshot: Q1FY25
Financials Snapshot: Q1FY25 ₹ 210.9 Cr. ₹ 53.6 Cr. ₹ 27.3 Cr. ₹ 17.5 Cr. Revenues EBIDTA PBT PAT 31% 25% 13% 8% Gross Margin EBIDTA Margin PBT Margin PAT Margin Satisfactory Q1 performance, but set to gain momentum in coming quarters with multiple projects reaching completion & handover during the r
Slide 10: Key Highlights: Q1FY25
Key Highlights: Q1FY25 Operational Performance Financial Performance • Muted sales; driven by sustenance activity. • Total Revenues up 34% YoY. - No new launches; sustenance sales from ongoing projects. • Revenue from Operations grew 14% YoY. - Deferred approvals, wait-n-watch strategy of customers
Slide 11: Financial Highlights: Q1FY25
Shriram WYTFIELD Financial Highlights : Q1FY25 10
Slide 12: Financial Highlights: Q1FY25
Financial Highlights: Q1FY25 o 11th Consecutive quarters of positive earnings since initial turnaround post IPO in Dec’21. o Modest growth in Revenues, EBITDA, PBT and Net Earnings. • Coming on the back of record ~1,400 handovers in Q4FY24, incremental handovers remained modest. • No new project OC’
Slide 13: Financial Highlights: Profit & Loss | Q1 FY25
Financial Highlights : Profit & Loss|Q1 FY25 Particulars (INR Crores) Q1FY25 Q1FY24 YoY FY24 Revenue from operations 154.0 135.0 14% 864.6 Other Operating Revenues 53.1 17.6 103.0 Total Operating Revenues 207.1 152.6 967.6 Other Income 3.8 4.6 19.8 Total Revenues 210.9 157.2 34% 987.4 Cost of revenu
Slide 14: Financial Highlights: Consolidated Cash Flows | Q1FY25
Financial Highlights: Consolidated Cash Flows | Q1FY25 (Excl. DM & JV cashflows) Amount in Rs. Crores Q1FY25 FY24 FY23 Collection Trends (Rs. In Crs) Collections 156 699 524 SPL Own & JDA / JVs / DM DM Income 7 123 57 Other Inflows 0 1 1 1,391 Operating Inflow 163 823 582 1,194 213 Construction (76)
Slide 15: Debt Profile: Well Managed Leverage Ratios & Cost of Debt
Debt Profile: Well Managed Leverage Ratios & Cost of Debt Debt Profile & Cost of Debt Trends - Consolidated Change in Debt Composition – Sep’21 (Pre-IPO) vs Jun’24 Particulars (Rs. in Crs.) Mar'22 Mar’23 Mar’24 June’24 SEP’21 JUN’24 Gross External Debt1 481 553 631 610 Others Banks AIF 6% 3% C & CE
Slide 16: Outlook: FY25 & Beyond
Outlook: FY25 & Beyond 15
Slide 17: FY25 Outlook: Strategy & Guidance
FY25 Outlook: Strategy & Guidance FY25 KPI Targets 20% 27% 29% 17% YOY YOY YOY YOY 5.2-5.5 2750-3000 1700-1800 3300-3500 msf Crs. Crs. No's Sales Volume Sales Value Collection Handovers _________________________ • YoY Growth % comparison on the higher end of the estimated numbers FY25 Context Favora
Slide 18: Q2 Launch Readiness
Q2 Launch Readiness Bangalore Chennai Kolkata Pune* Project Shriram Serenity Shriram Swargam Shriram Symphony Shriram Saptam* Launch 0.37 msf 0.60 msf 0.32 msf 0.69 msf Area Ownership JDA JDA Own JDA/DM Approval MoEF Progressed, Plan Approval Received RERA Received RERA Received PMC Approval Status
Slide 19: Launch Preparation ahead of Q2 Launches
Launch Preparation ahead of Q2 Launches Shriram Serenity – Bangalore JBP Event Shriram Swargam Shriram Symphony – Kolkata Launch Campaigns Shriram Saptam 18
Slide 20: Pricing Trends: Strong undercurrent; Positive Outlook for FY25
Pricing Trends: Strong undercurrent; Positive Outlook for FY25 Price Increase by Project – Top Projects only Avg. Portfolio Price increase Trends Increase in Project Name Development type FY'24 Q1 FY'25 FY25 Shriram WYT FIELD Apartment 6,143 6,880 12% 4% Shriram WYT FIELD - II Apartment 5,956 6,623
Slide 21: FY25 Launch Calendar: 8-9 Launches To Fuel Sales Growth
FY25 Launch Calendar : 8-9 Launches To Fuel Sales Growth Project Dev. Launch Project Status change Project details** Region FY25 Sales type Model Quarter Area from March Shriram Saptam Pune Apartments DM/JDA Q2/Q3 0.69 0.42 Shriram Serenity Bangalore Apartments JDA Q2 0.37 0.19 Shriram Swargam Chenn
Slide 22: FY25 Project delivery: Targeting to Deliver ahead of RERA Timelines
FY25 Project delivery: Targeting to Deliver ahead of RERA Timelines Project Name Total Area Type No. of RERA date % Estimated units Completed Completion Westwoods 4,97,790 Plots 316 26-Feb-2026 95% Q2 Southern Crest Tower D 75,735 Apt. 51 21-Oct-2025 97% Q2 107 South East Phase I 4,53,342 Apt. 634 1
Slide 23: Project Pipeline update
Project Pipeline update Project Pipeline (msf)* Upcoming – 18 msf Ongoing – 24 msf 3.4 42.2 3.6 10.9 5.0 10.5 8.8 Ongoing Ongoing Ongoing Upcoming Upcoming Upcoming Sub-Total Owned JV / JDA DM Owned JV / JDA DM # 9 8 9 8 6 2 42 Pipeline – By Region Pipeline – By Development Type 15% 20% ✓ Overall pi
Slide 24: 3-year Outlook: Greater Visibility on Earnings
3-year Outlook: Greater Visibility on Earnings Sales Volumes (msf) 4-year cumulative sales of 15 msf 4.6 4.0 Project Completion Trend (msf) 3.8 3.0 # units handover 2,000+ 3,700+ 450+ 130+ 2,000+ 3,000+ 12,000+ 13.0 + FY21 FY22 FY23 FY24 4.3 3.8 3.8 3.3 1.7 FY15-17 FY18-20 FY21 FY22 FY23 FY24 FY25-2
Slide 25: Thank You
Thank You Shriram Blue 24
Slide 26: Investment Summary
Investment Summary 8. Access to Capital 1. Corporate Governance ➢ Shriram Group DNA and marquee investor ➢ Strategic relationships with domestic and presence for a decade contribute to strong international financial investors governance and transparency practices ➢ Early recipient of FDI in the sect
Slide 27: Shareholding Pattern as at 30 June 2024
Shareholding Pattern as at 30 June 2024 Category No.of Holders % Promoters 3 28% Shareholding Pattern as at 30 June 2024 Institutions & Corporates 640 31% Public 83,346 41% Institution & Corporates Public Total 83,989 100% 31% 41% Promoters 28% Promoter Shareholding Composition Promoter Name % Shrir
Slide 28: Annexure-1 Residential Real Estate Sector Overview
Annexure-1 Residential Real Estate Sector Overview 27
Slide 29: Residential Real Estate Sector: Robustness Continues
Residential Real Estate Sector: Robustness Continues Growth momentum strong despite geopolitical tensions * KEY EMERGING TRENDS – Largely remain intact • Sales remained steady with 1.2 lac units in Q2’CY24 – Down 1% YoY • Pro-Growth Budget announced by Central Govt to Boost • Supply muted in Q2CY’24
Slide 30: Residential Real Estate Sector: Regional Snapshot
Residential Real Estate Sector: Regional Snapshot Bangalore Chennai Kolkata Pune Unsold Absorption Supply Segment trends ________________ 29 * Data Source: Prop Equity
Slide 31: Other Annexures
Other Annexures 30
Slide 32: Annexure-2: Projects Snapshot by Development Models
Annexure-2: Projects Snapshot by Development Models Development Own Developments Joint Developments Joint Ventures Management Execution Track Record Execution Track Record Execution Track Record Execution Track Record Completed Completed Completed Completed ✓ 8 projects ✓ 24 projects ✓ 5 projects ✓
Slide 33: Annexure-3: Consolidated Cash Flows – With and Without JV Cashflows
Annexure-3: Consolidated Cash Flows – With and Without JV Cashflows Particulars SPL Consolidated (CFS) SPL Enterprise (100%)1 (Excl DM) Amount in Rs. Crores Q1FY25 FY24 Q1FY25 FY24 Collections 156 699 259 1232 DM Income 7 123 7 121 Other Inflows 0 1 0 1 Operating Inflow 163 823 266 1354 Construction
Slide 34: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : http://www.sgapl.net/images/sgapl_logo.jpg Shriram Properties Limited Strategic Growth Advisors Pvt. Ltd. CIN – L72200TN2000PLC044560 CIN - U74140MH2010PTC204285 Mr. Shrikanth D S, AGM – Finance Mr. Rahul Agarwal / Ms.