Sobha Limited · NSE:SOBHA
Sobha — Q1 FY2024 Earnings Presentation
39 slides from Sobha's earnings presentation, Jun 1, 2023
Slide 1: Investor Presentation
ii SOBHA PASS ION AT WORK Investor Presentation Artistic Impression PASSION AT WORKof SOBHA Galera, Bangalore 1 June 2023
Slide 2: SOBHA: Leading through excellence, scale and innovation
SOBHA: Leading through excellence, scale and innovation Established on a solid footing Consistent delivery at scale ‣ Bangalore headquartered Real Estate & Construction firm with 28 years of ‣ 129.45 mn sft completed in 532 developments till date across 27 cities delivering international quality res
Slide 3: Awards and Recognitions received in Q1 FY 2024
Awards and Recognitions received in Q1 FY 2024 Real Estate Infrastructure Summit & Awards 2023 SOBHA bagged Best Architectural Plan of the Year for SOBHA Gardenia, Chennai, at the Real Estate Infrastructure Summit & Awards 2023 3rd Realty+ Women Icon Conclave and Excellence Awards Geetha Nair, Execu
Slide 4: Contents
Contents ► Cashflow Sales Performance Financials & Operations Project Updates l ~soBHA L __ _ _ _ _ _ _ _ PASSION AT WORK 4
Slide 5: Robust Operational Cashflows generated in Q1 FY 2024
Robust Operational Cashflows generated in Q1 FY 2024 Rs Billion Total Operational Cash Inflow Real Estate Cash Inflow ‣ Total Collections in Q1-FY24 improved by 21.3% compared to Q1- 13.55 FY23 to Rs. 13.55 bn 21% 11.18 11.48 • Real Estate contribution was Rs. 11.48 bn, growth of 29.2% 29% 8.88 comp
Slide 6: Cashflow Statement – Q1 FY 2024
Cashflow Statement – Q1 FY 2024 Rs Million Particulars Q1-24 Q1-23 Q4-23 FY-23 Operational cash inflows Real Estate Operations 11,478 8,883 11,787 43,058 Contractual & Manufacturing 2,073 2,293 2,437 9,765 Total Operational cash inflow (A) 13,551 11,176 14,224 52,823 Operational cash outflows Real E
Slide 7: Cashflow Statement – Q1 FY 2024…continued
Cashflow Statement – Q1 FY 2024…continued Rs Million Particulars Q1-24 Q1-23 Q4-23 FY-23 Financial Outflows Finance outflow 483 529 465 2,056 Dividend including taxes - - - 285 Total Financial Outflows (D) 483 529 465 2,341 Net Cashflow after Financial & Tax Outflow : (E=C-D) 1,465 1,016 2,849 8,218
Slide 8: Net Debt reduced by Rs. 14.05 bn in ten quarters, from internal accruals
Net Debt reduced by Rs. 14.05 bn in ten quarters, from internal accruals 36 1.31 1.40 : : 1.25 1.23 Net Debt to Equity reduced to less than half in 1.19 32 1.11 last ten quarters to 0.63 as on 30th June, 2023 1.20 29.75 I_ - - -- - - -- - -• 28.52 0.97 28.17 27.78 1.00 28 0.87 26.54 0.77 0.72 0.80 2
Slide 9: Cost of borrowing increased marginally in Q1 FY 2024
Cost of borrowing increased marginally in Q1 FY 2024 Q1-24 Cost of borrowing is close to Q3-21 levels, despite Repo rate being 2.50% higher compared to same period ' --------------------------------------------------------------------------------------------------------------------------------------
Slide 10: Residential Real Estate Portfolio: Projected Cashflow as on 30th June 2023
Residential Real Estate Portfolio: Projected Cashflow as on 30th June 2023 Completed - with Ongoing - Area Ongoing - Area Particulars Total Unit unsold inventory offered for sale not offered for sale Total Saleable area 14.76 20.34 1.23 36.33 Mn sft Sobha’s share of Saleable area 13.89 18.95 1.23 34
Slide 11: Inventory Visibility – Ongoing and Forthcoming Real Estate Projects
Inventory Visibility – Ongoing and Forthcoming Real Estate Projects Forthcoming Projects Total Residential Inventory – Ongoing and Forthcoming Location SBA (Mn sft) No. of Projects Inventory status Mn sft Residential 15.09 17 Bangalore 6.52 5 Unsold Area - Completed projects 0.11 NCR 4.32 3 GIFT Cit
Slide 12: Contents
Contents Cashflow ► Sales Performance Financials & Operations Project Updates PASSION AT WORK 12 SOBHA
Slide 13: Robust Sale momentum continued in Q1 FY 2024
Robust Sale momentum continued in Q1 FY 2024 ‣ Achieved highest ever Sale value of Rs. 14.65 bn, registering growth of 27.9% over Q1-23, aided New Sales Area (Mn sft) by geographical diversification and sustained demand for SOBHA homes across markets 1.36 3% 1.39 ‣ In the quarter we sold 907 homes c
Slide 14: Region wise Real Estate Sales Performance in Q1 FY 2024
Region wise Real Estate Sales Performance in Q1 FY 2024 Highest ever quarterly sales value achieved – driven by geographical diversification & changing product mix Area Sold Total Sale Value Sobha’s Share Value Average Price Realization Total Sales Value (Rs. Bn) Region (sft) (Rs. Mn) (Rs. Mn) (Rs.
Slide 15: Consistent Sales performance with improving price realization
Consistent Sales performance with improving price realization Quarterly New Sales Area (Mn sft) 1.48 1.48 1.35 1.34 1.36 1.34 1.39 1.32 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Quarterly Sales Value (Rs. Mn) 14,247 14,634 14,647 11,096 11,455 11,642 10,302 10,475 i Q2-22 Q3-22 Q4-22 Q1-23 Q2-
Slide 16: Sales Value classification – Q1 FY 2024 - Price Band & Region Wise
Sales Value classification – Q1 FY 2024 - Price Band & Region Wise • Luxury segment (> Rs 2 Cr.) demand has seen significant improvement over past Price bucket wise contribution to sales value several quarters. Contribution from this segment has grown from 36% in FY23 Rs 2 Cr. - Rs. 3 Cr. 12% < Rs 1
Slide 17: Contents
Contents Cashflow Sales Performance ► Financials & Operations Project Updates PASSION AT WORK 17 SOBHA
Slide 18: Financial & Operational Highlights – Q1 FY 2024
Financial & Operational Highlights – Q1 FY 2024 Total Income (Rs. Bn) Real Estate Income (Rs. Bn) Key Highlights ‣ Total income for the quarter was Rs. 9.39 bn, registering growth of 63.7% 9.39 compared to same period in FY-23, supported by 66.0% growth in Real Estate 7.41 64% 66% ‣ Improvement in R
Slide 19: Profit & Loss Statement – Q1 FY 2024
Profit & Loss Statement – Q1 FY 2024 Rs Million Particulars Q1-24 Q1-23 Q4-23 FY-23 Real Estate Revenue 7,410 4,461 9,557 25,238 Contractual & Manufacturing Revenue 1,669 1,158 2,542 7,863 Other Income 313 117 302 923 Total Income 9,392 5,737 12,401 34,024 Total Expenditure 8,425 4,917 10,942 29,406
Slide 20: Consolidated Balance Sheet as on 30-Jun-2023
Consolidated Balance Sheet as on 30-Jun-2023 Rs Million ASSETS 30-June-23 31-Mar-23 EQUITY & LIABILITIES 30-June-23 31-Mar-23 Non-current Assets Equity Property, Plant and equipment 4,139 4,130 Equity Share Capital 948 948 Investment Property 4,486 4,519 Other Equity 24,113 23,999 Investment Propert
Slide 21: Contracts Portfolio & Operational Overview
Contracts Portfolio & Operational Overview Revenue & Collection Rs Billion Completed during Q1 FY 2024 Particulars Q1-24 Q1-23 Revenue Infosys campus, Nagpur Started the project in March’21. with mandate to develop all the Contracts 0.72 0.35 structures in the 52 Acre campus – Civil, MEP and finishi
Slide 22: Contracts - Completed Projects - Region wise contribution details
Contracts - Completed Projects - Region wise contribution details Tamil Madhya Uttar West Himachal States >> Karnataka Kerala Telangana Maharastra Nadu Orissa Haryana Rajasthan Pradesh Pradesh Uttarakhand Bengal Pradesh Total Developed Area (Mn Sft) 26.54 7.31 6.29 7.16 4.92 1.55 1.65 0.70 0.76 0.14
Slide 23: Manufacturing & Retail Performance – Q1 FY 2024
Manufacturing & Retail Performance – Q1 FY 2024 ‣ SOBHA Ltd. is the only Real Estate company in India with complete vertical integration across the value chain ‣ It supports company to take up turn-key projects and deliver world class quality in timely & efficient manner Glazing & Metal Works Interi
Slide 24: Commercial portfolio: Completed, Ongoing & Forthcoming projects
Commercial portfolio: Completed, Ongoing & Forthcoming projects Total Sobha Share Sobha City Mall, Thrissur Project Name Status Leasable Area (sft) Leasable area (sft) Sobha City Mall, Thrissur Operational 322,983 280,798 One Sobha, Bangalore Operational 221619 195,987 Sub Total 544,602 476,785 Sobh
Slide 25: Contents
Contents Cashflow Sales Performance Financials & Operations ► Project Updates PASSION AT WORK 25 SOBHA
Slide 26: Real Estate - Projects portfolio – Completed, Ongoing & Forthcoming
Real Estate - Projects portfolio – Completed, Ongoing & Forthcoming Total Developable / Leasable area and Saleable area (Mn sft) Completed Ongoing Region Forthcoming Developable Saleable Built-up Developable Saleable Built-up Note: Area Area Area Area ‣ Real Estate product mix includes Multi Storied
Slide 27: Real Estate developments delivered in Q1 FY 2024
Real Estate developments delivered in Q1 FY 2024 624 homes (with SBA of 0.97 mn sft) delivered in Q1 FY 2024 across 5 cities Project Location Product Type No. of units SBA (sft) Sobha Dream Acres Tropical Greens Phase 24 - Wing 30 Bangalore Apartments 117 117,350 I- Sobha Dream Acres Tropical Greens
Slide 28: Completed Residential Projects during Q1 FY 2024
Completed Residential Projects during Q1 FY 2024 SOBHA Dream Acres – Tropical Green Wing 30 & 33 SOBHA Dream Garden – Wing 6B Bangalore Bangalore Wing 30 comprising of 1 tower of G+14 floors Total SBA completed in Q1-FY24 – 117,350 sft (117 units) Wing 6B comprising of 1 tower G+23 floors Wing 33 co
Slide 29: Completed Residential Projects during Q1 FY 2024...continued
Completed Residential Projects during Q1 FY 2024...continued SOBHA Royal Pavilion – Wing 5 Sobha Lake Gardens Phase 1 Tower 6 SOBHA City Tower C3 Bangalore Bangalore NCR Block 1 comprising 1 Tower of G+18 floors Block 1 comprising 1 Tower of G+18 floors Block 1 comprising 1 Tower of G+24 floors Tota
Slide 30: Completed Residential Projects during Q1 FY 2024...continued
Completed Residential Projects during Q1 FY 2024...continued Sobha Silver Estate SOBHA Verdure International City Phase 2 Thrissur Coimbatore NCR 4 Villas completed in Q1 – FY 24 27 Villas completed in Q1 – FY 24 7 Villas completed in Q1 – FY 24 Total SBA completed in Q1-FY24 – 14,191 sft Total SBA
Slide 31: Ongoing Residential Projects
Ongoing Residential Projects SOBHA Lake Gardens Ph II - Bangalore SOBHA Royal Pavilion - Bangalore SOBHA Oakshire - Bangalore Development details Development details Development details Towers of G+13/18 floors with 597 units (1/2/2.5/3BHK) 16 towers of G+18 floors with 1,057 units (2/3/4 BHK) Total
Slide 32: Ongoing Residential Projects…continued
Ongoing Residential Projects…continued SOBHA Manhattan Tower- Bangalore SOBHA Sentosa - Bangalore SOBHA Brooklyn Towers - Bangalore Development details Development details Development details 2 Towers 4 Wings of G+35/36 floors with 560 (1/2/3/3.5/4 BHK) 4 Towers with 7 Wings of G+17 floors with 533
Slide 33: Ongoing Residential Projects ….. continued
Ongoing Residential Projects ….. continued SOBHA Marina One - Kochi SOBHA Meadows Whispering Hills - Trivandrum SOBHA Dream Heights - Gift City Development details Development details Development details 8 Towers with G+25/27/28 floors with 779 units (2.5/3/3.5/4 BHK) 2 Towers of G+12 floors with 98
Slide 34: Ongoing Residential Projects…continued
Ongoing Residential Projects…continued SOBHA Arbor - Chennai SOBHA Metropolis - Thrissur SOBHA Atlantis - Kochi Development details Development details Development details 7 Towers of G+5 floors with 163 units (3/4 BHK) 6 Towers of G+21/23/25 floors with 504 units (2/3/4 BHK) 4 Towers of G+24 floors
Slide 35: SOBHA Dream Acres – fully released and approaching sales completion
SOBHA Dream Acres – fully released and approaching sales completion SBA launched for sale as on 30th June 2023 6.50 Developable area launched till June 2023 8.17 SBA released in Q1-FY24 - Developable area completed till June 2023 6.87 SBA sold till 30th June 2023 6.46 Area in mn sft SOBHA Dream Acre
Slide 36: Ongoing Contractual Projects
Ongoing Contractual Projects Azim Premji University, Bangalore Janaseva Trust Param, Bangalore Karle HUB 05 SEZ & Karle NWCM, Bangalore Total SBA of 1,407,769 sft and order value of Rs. 4,716.44 mn. The Total SBA of 523,000 sft and order value of Rs. 728.91 mn. Total SBA of 2,540,917 sft and order v
Slide 37: Ongoing Contractual Projects contd…
Ongoing Contractual Projects contd… Infosys Campus Entry & Exit Plaza, Bangalore Infosys Bangalore Metro Station - Bangalore Ashoka University North Campus, Haryana Total SBA of 27,534 sft and order value of Rs. 227.68 mn. The Project Total SBA of 188,371 sft and order value of Rs. 502.71mn. Total S
Slide 38: Board of Directors
Board of Directors Ravi PNC Menon, Chairman Jagadish Nangineni, Managing Director ‣ 17+ years of experience in the real estate and ‣ 22 years of experience across diverse sectors - real construction business estate, consulting & technology ‣ Bachelor of Science in Civil Engineering from ‣ B.Tech in
Slide 39: Thank you
Thank you SOBHA Corporate Office ‘SOBHA’, Sarjapur-Marathahalli Outer Ring Road (ORR), Devarabisanahalli, Bellandur Post, Bangalore-560103 Phone: +91-80- 49320000 www.sobha.com Investor’s Contact Mr. Soumyadeep Saha Investor Relations Tel: +91-80-49320000 Ext. 5024 Email: soumyadeep.s@sobha.com Disc