Kolte-patil Developers Limited · NSE:KOLTEPATIL
Kolte-patil Developers — Q2 FY2019 Earnings Presentation
24 slides from Kolte-patil Developers's earnings presentation, Oct 26, 2018
Slide 1: Cover letter to stock exchanges
Creation, not con5tructron To, To. The Assistant Manager, The General Manager, National Stock Exchange of India Limited BSE Limiled, Listing Deparfnent, Corporate Relationship Department, 'Exchange Pla-a', ld Floor, Phhoze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East), Dalal Street, Mumbai-
Slide 2: Q2 FY2019 Results Presentation
KOLTE-PATIL DEVELOPERS LIMITED Q2 FY2019 Results Presentation
Slide 3: Disclaimer
Disclaimer 2 Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those
Slide 4: Table of Contents
Table of Contents 3 1 2 3 4 5 6 Operational About Kolte- P&L / Balance Project-wise CEO’s Message & Performance Outlook Patil Developers Sheet Snapshot Details Highlights Ltd.
Slide 5: Kolte-Patil Developers: At a Glance
Kolte-Patil Developers: At a Glance 4 Decades of presence 30 million square feet of Residential real estate being incorporated in projects under IPO in Dec 2007 player in Pune 1991 execution and approval (Awarded as Most Reputed Brand in Pune) of units delivered across ROCE – one of the 74.5% 11.7%
Slide 6: Impact of Application of IND AS-115
Impact of Application of IND AS-115 5 ≈ MCA (Ministry of Corporate Affairs, Government of India) notified IND-AS 115 (Revenue from Contracts with Customers) on 28th March 2018, applicable for the sector beginning on or after 1st April 2018 ≈ In the erstwhile accounting standards coupled with the gui
Slide 7: CEO's Message: Commenting on Q2 FY2019 performance
“We are delighted to announce that in line with our stated guidance, we have seen an acceleration in our sales trajectory this quarter, reporting a strong uptick of 31% YoY and 65% QoQ in sales volumes to 0.77 million square feet in Q2 FY19. With the shift to the new accounting standard based on com
Slide 8: Robust Momentum in Customer Collections
Robust Momentum in Customer Collections 7 ≈ Sustained collection Collections (Rs. Crore) momentum in Q2 FY19, up 48% YoY to Rs. 294 crore 377 ≈ Trailing twelve month collections at Rs. 1,261 309 294 280 crore, up 32% YoY 253 247 254 ≈ Mumbai and Bengaluru 199 contributed to 18% of the overall collec
Slide 9: Operational Highlights
Operational Highlights 8 New area sales Q2 FY19 Q2 FY18 YoY H1 FY19 H1 FY18 YoY Volume (million sq. ft.) 0.77 0.59 30.8% 1.23 0.99 23.6% Value (Rs. million) 3,998 3,337 19.8% 6,588 5,911 11.4% Realization (Rs./Sq. ft.) 5,223 5,703 -8.4% 5,356 5,944 -9.9% Collections (Rs. million) 2,940 1,988 47.9% 6
Slide 10: Performance Highlights – Q2 FY19
Performance Highlights – Q2 FY19 9 Revenue, Rs. Crore EBITDA, Rs. Crore PAT (Pre-MI), Rs. Crore PAT, Rs. Crore 478 104 41 388 61 71 67 66 30 28 288 278 56 24 254 37 30 27 18 22 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 FY18 FY18 FY18 FY19 FY19 FY18 FY18 FY18 FY19 FY19 FY18 FY18 FY1
Slide 11: New Sales Analysis – Q2 FY19
New Sales Analysis – Q2 FY19 10 msf. 0.57 0.32 0.55 0.41 0.59 0.59 0.49 0.46 0.77 100% 4% 4% 3% 3% 4% 3% 5% 5% 3% 11% 21% 28% 22% 28% 21% 26% 24% 26% 80% 15% 9% 10% 60% 11% 21% 16% 15% 28% 55% 40% 60% 66% 61% 57% 54% 53% 54% 20% 43% 32% 0% Q2 FY2017 Q3 FY2017 Q4 FY2017 Q1 FY2018 Q2 FY2018 Q3 FY2018
Slide 12: Abridged Cash Flows
Abridged Cash Flows 11 Q2 FY19 H1 FY19 Abridged Cashflows - Unaudited (Rs. crore) (Un-Audited) (Un-Audited) Opening Balance 94 117 Operating Cashflow Collections 288 598 Construction Cost 164 317 Other Expenses and Taxes 69 130 Financing Activities Interest 15 27 OD/CC Movement -9 9 OCD/CCD Redempti
Slide 13: Consolidated Debt Profile
Consolidated Debt Profile 12 30th Sep, 2018 30th Sep, 2018 31st Mar, 2018 Consolidated Debt Profile (Rs. crore) (Audited) (Un-Audited) (Audited) CCM POCM POCM Networth 802 1,006 984 Gross debt 671 671 689 Less: OCD / CCD / OCRPS / Zero Coupon NCD* 279 279 289 Debt 392 392 400 Less: Cash & cash equiv
Slide 14: Profit and Loss Snapshot – Q2 FY19 vs Q2 FY18
Profit and Loss Snapshot – Q2 FY19 vs Q2 FY18 13 P&L Snapshot (Rs. crore) Q2 FY19* Q2 FY19^ Q2 FY18 YoY Revenue Recognition Method Reported POCM POCM POCM REASONS FOR VARIANCE CCM • Q2 FY18 POCM numbers include the Revenue from Operations 211.0 254.2 387.6 -34.4% strategic divestment of land parce
Slide 15: Profit and Loss Snapshot – H1 FY19 vs H1 FY18
Profit and Loss Snapshot – H1 FY19 vs H1 FY18 14 P&L Snapshot (Rs. crore) H1 FY19* H1 FY19^ H1 FY18 YoY Revenue Recognition Method Reported POCM POCM POCM REASONS FOR VARIANCE CCM • Key revenue drivers as per POCM Revenue from Operations 601.6 532.2 634.1 -16.1% accounting were Western Avenue, Lif
Slide 16: Revenue Recognition – Q2 FY19 vs Q2 FY18
Revenue Recognition – Q2 FY19 vs Q2 FY18 15 Q2 FY19 – Rs. 211 crore Q2 FY19 – Rs. 254 crore Q2 FY18* – Rs. 227 crore (CCM) (POCM) (POCM) Opula 18% 31% Stargaze 62% Western Avenue 17% 16% Life Republic 16% 12% Downtown 29% Bengaluru Projects 10% Downtown 9% 10% Ivy Estate 5% Ivy Estate 8% 8% Stargaze
Slide 17: Revenue Recognition – H1 FY19 vs H1 FY18
Revenue Recognition – H1 FY19 vs H1 FY18 16 H1 FY19 – Rs. 602 crore H1 FY19 – Rs. 532 crore H1 FY18* – Rs. 473 crore (CCM) (POCM) (POCM) Life Republic 36% Western Avenue 20% 23% Life Republic 19% 12% Stargaze 22% Opula 12% 11% Downtown 15% Ivy Estate 10% 9% Ivy Estate 14% Banglore 9% 8% Tuscan 4% KP
Slide 18: Sales & Collections – Ongoing Projects – Q2 FY2019
Sales & Collections – Ongoing Projects – Q2 FY2019 17 Gross Details (including partner’s share) Sales value Avg. Realization Collections Projects Location Area Sold (msf.) (Rs. mn.) (Rs./sft.) (Rs. mn.) Life Republic Hinjewadi, Pune 0.42 2,103 5,036 480 Ivy Estate Wagholi, Pune 0.08 331 4,032 329 Tu
Slide 19: KPDL Project Portfolio – 30.09.2018
KPDL Project Portfolio – 30.09.2018 18 Gross Details Gross Details (including partner’s share) (including partner’s share) Ongoing Ongoing KPDL Upcoming Land KPDL Under Land Pune Projects & Mumbai Projects & Share * Bank Share Approval* Bank Unsold Unsold Jazz II (Opula) 100% 0.29 - - Jai Vijay 100%
Slide 20: Improving Return Ratios
Improving Return Ratios 19 ROE ROCE 18.4% 17.5% 15.9% 14.9% 14.5% 14.3% 12.1% 11.2% 11.9% 12.3% 11.1% 10.1% 10.2% 7.5% Mar '16 Mar '17 June '17 Sep '17 Dec '17 Mar '18 H1 FY19 Note: Numbers on POCM basis
Slide 21: Business Outlook
Business Outlook 20 SECTOR CONSOLIDATION DIVERSIFYING GEOGRAPHICAL PRESENCE EFFICIENT CAPITAL DEPLOYMENT • Implementation of RERA and GST has • 1.4 msf across 14 asset-light society • Continue to evaluate strategic and financial consolidated demand to organized, execution- redevelopment projects in
Slide 22: Awards & Recognition
Awards & Recognition 21 Times Business Awards - 2018 RAAGA MIRABILIS I-TOWERS EXENTE “MID RANGE APARTMENT PROJECT “BEST DESIGN APAPRTMENT “BEST HIGH RISE PROJECT OF THE YEAR” OF THE YEAR 2018” PROJECT OF THE YEAR 2018”
Slide 23: Awards & Recognition
Awards & Recognition 22 Times Business Awards - 2018 24K by Kolte Patil – Luxury 24K Opula - Luxury Project of Kolte-Patil Developers Ltd- Developer of the Year -Times the Year- Times Network Most Trusted Real Estate Brand Network Marketing Excellence Marketing Excellence Awards, – Times Network Mar
Slide 24: About Kolte-Patil Developers Ltd.
About Kolte-Patil Developers Ltd. 23 Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL), incorporated in 1991, is a For further information, please contact: leading real estate company with dominant presence in the Pune residential market. Kolte-Patil is a trusted name with a reputation for
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