Sunteck Realty Limited · NSE:SUNTECK
Sunteck Realty — Q4 FY2023 Earnings Presentation
40 slides from Sunteck Realty's earnings presentation, May 29, 2023
Slide 1: Exchange filing cover letter
Sunteck Realty Ltd. Date: 29th May, 2023 SRL/SE/15/23-24 National Stock Exchange of India Ltd BSE Limited Exchange Plaza, Plot no. C/1, G Block, Phiroze Jeejeebhoy Tower, Bandra-Kurla Complex, Bandra (East), Dalal Street, Mumbai- 400 051 Mumbai – 400 001 Symbol: SUNTECK Scrip Code: 512179 Sub: Inves
Slide 2: Investor Presentation Q4 & Full Year FY2023
Sunteck Realty Limited Investor Presentation Q4 & Full Year FY2023 NSE: SUNTECK | BSE: 512179 | Bloomberg: SRIN: IN | Reuters: SUNT.NS / SUNT.BO An ISO 9001, 14001 & 45001 certified company
Slide 3: Disclaimer
Disclaimer By attending the meeting where this presentation is made and any additional material is provided (“Presentation”) or by reading the Presentation, you (“Recipient”), agree to be bound by the following limitations. This Presentation has been prepared on the basis of the estimates of the man
Slide 4: Key Highlights
Key Highlights 3
Slide 5: Key Highlights (FY18 - FY23)
Key Highlights (FY18 - FY23) Delivering sustainable operational growth and operating margins W. Average Pre-sales Collections EBITDA CAGR CAGR Margin (18-23) (18-23) (18-23) ~22.2% ~18.7% ~32.0% *Company follows project completion method of accounting Rs 1 cr = Rs 10 mn 4
Slide 6: Key Highlights (FY18 - FY23)
Key Highlights (FY18 - FY23) Particulars CAGR (FY18-21) CAGR (FY21-23) Pre-sales 21% 25% Collections 14% 27% Particulars FY22 FY23 Net Debt Rs 539 cr Rs 280 cr Operating CF Surplus Rs 239 cr Rs 428 cr Rs 1 cr = Rs 10 mn US$ 1 = ~Rs 80 5 CAGR – Compounded Annual Growth Rate
Slide 7: Key Highlights (Q4 & FY23)
Key Highlights (Q4 & FY23) FY23 FY23 FY23 Pre-sales Collections Gross OCF (~Rs cr) (~Rs cr) YoY 1,602 1,250 (%) +23% yoy +19% yoy 79% Q4 FY23 Q4 FY23 FY23 Pre-sales Collections Net D/E (~Rs cr) (~Rs cr) (x) 537 330 0.10x +36% qoq +8% qoq 6 Rs 1 cr = Rs 10 mn
Slide 8: Who are we
Who are we 7
Slide 9: Mumbai (MMR) focused
Mumbai (MMR) focused Strong project portfolio across MMR By Project Brands By Location Volume 8 #GDV – Gross Development Value US$ 1 = ~Rs 80
Slide 10: Our Brands
Our Brands Premium positioning by creating different luxury brands across all the segments Uber Luxury Premium Luxury Aspirational Luxury (Upper Mid-Income) (Lower Mid-Income) Marquee Luxury (Beach Residences) 9
Slide 11: Our achievements & aspirations
Our achievements & aspirations 10
Slide 12: Strong land acquisition track record
Strong land acquisition track- record, post-Lehmann crisis years (peak recession) 16 16 MSF MSF 11 Net Debt/Equity @0.10x at the end of Q4 FY23 highlights fiscal discipline
Slide 13: Net Debt/Equity discipline
Net Debt/Equity discipline ▷ Despite acquisitions of 38.5 mn sq ft since 2018, Net D/E decreased from 0.17x in FY18 to 0.10x in FY23 2.00x 1.80x 1.60x 1.40x ➢ ~38.5 mn sq ft of projects acquired since 2018 1.20x 1.04x ➢ Of which, ~25.5 mn sq ft has been 1.00x 0.89x acquired since the onset of COVID-
Slide 14: 6 (Six) Growth Engines of Sunteck
6 (Six) Growth Engines of Sunteck 1 Signature, Signia, BKC 2 Sunteck City, ODC, Goregaon 3 Sunteck World, Naigaon GDV ~Rs. 1,500 cr GDV Rs. 5,900 cr GDV Rs. 4,500 cr Sunteck Beach Residences 4 (SBR), Vasai 5 Sunteck Skypark, Mira Road 6 Kalyan GDV ~Rs. 4,400 cr GDV ~Rs. 2,400 cr GDV ~Rs. 9,000 cr 13
Slide 15: Our Growth Engines
Our Growth Engines *To Be Launched Pre-sales growth multiple to improve 6 *Kalyan **Launched Towards The End of Q42023 (End of March 2023) 5 Sunteck Skypark, 5 **Sunteck SkyPark Mira Road 4 Sunteck Beach 4 Sunteck Beach Residences (SBR), Vasai Residences (SBR), Vasai 3 Sunteck World, Naigaon 3 Sunte
Slide 16: Pre-sales growth multiple to improve
Pre-sales growth multiple to improve On the back of new project launches ▷ The company has achieved a pre-sales CAGR of 22% between FY18 and FY23. 18 1,602 16 14 12 1,022 10 8 588 6 4 2 0 Rs 1 cr = Rs 10 mn FY18 FY21 FY23 15 All figures are in Rs. Crores. Subject to material variances due to busines
Slide 17: Key Numbers
Key Numbers Operational Performance and Financial Statements 16
Slide 18: Operational Performance Trend (Quarter-wise)
Operational Performance Trend (Quarter-wise) Both pre-sales and collections are GROWING STRONGLY on a sequential (quarterly) as well as yearly basis Pre-sales (~Rs cr) Collections (~Rs cr) 600 537 500 503 404 500 400 396 331 321 330 400 371 304 333 337 349 352 285 300 270 272 253 300 207 176 200 200
Slide 19: Operational Performance (Pre-sales Segment-wise)
Operational Performance (Pre-sales Segment-wise) Pre-sales registering growth of 23% YoY Q4 FY23 FY23 Segment Projects (~Rs cr) (~Rs cr) Uber Luxury Signature, Signia 76 76 Sunteck City, SBR, Sky Upper Mid-income 360 1,193 Park Lower Mid-Income Sunteck World 66 223 Others Sunteck 35 110 Total 537 1,
Slide 20: Operational Performance (Collections Segment-wise)
Operational Performance (Collections Segment-wise) The collections mix for the quarter is broad-based with all segments performing well. Q4 FY23 FY23 Segment Projects (~Rs cr) (~Rs cr) Uber Luxury Signature, Signia 47 179 Upper Mid-income Sunteck City, SBR 97 360 Lower Mid-income Sunteck World 121 5
Slide 21: Robust operational cash flows (OCF)
Robust operational cash flows (OCF) ~Rs 428 cr operating surplus generated in FY23 – used in Business Development/Acquisitions, debt reduction and advance premium payment 20 Rs 1 cr = Rs 10 mn
Slide 22: Robust operational cash flows
Robust operational cash flows ~Rs 948 cr operating surplus generated in 3 years – used in Business Development/Acquisitions, debt reduction and advance premium payment ~Rs 428 cr of operating cash flow surplus generated in FY2023 Particulars FY 2021 FY 2022 FY 2023 OPERATING CASH FLOW Total Operatin
Slide 23: Strong Balance Sheet
Strong Balance Sheet As on 31st March, 2023, the consolidated net debt to equity is amongst the strongest at 0.10x. Particulars As on 31st Mar, 23 Total Debt (~Rs cr) 593 Less: Cash & Bank Balance 158 Less: Loans to JDA partners 155 Net Debt 280 Net Worth 2,788 Net Debt / Equity 0.10 Quasi-Equity an
Slide 24: Key Financials
Key Financials ▷ In FY23, Revenue from operations stood at Rs 362 cr (Rs 3,624 mn) ▷ EBITDA for FY23 stood at Rs 64 cr (Rs 642 mn) ▷ EBITDA margin stood at ~18% for FY23 ▷ PAT for FY23 stood at Rs 1.4 cr (Rs 14 mn) Particulars Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 Revenue from Operations 49 89 156 362 5
Slide 25: Key Financials
Key Financials BALANCE SHEET – FY23 (Consol) Liabilities Rs Cr Assets Rs Cr Networth 2,788 Receivables 150 Borrowings 685 Inventories 5,725 Other CL 3,517 L&A 230 Others 264 Cash & Bank 158 Provisions 5 Others 996 Total 7,259 Total 7,259 Rs 1 cr = Rs 10 mn 24
Slide 26: Superior Credit Rating
Superior Credit Rating ▷ Sunteck has Top Tier Credit Profile which is a Testimonial for its Strong Fundamentals. AA- / Positive AA- / Positive ▷ Key Rating drivers are – ○ Healthy track record in real estate development in MMR ○ Adequate committed cash flow visibility ○ Prudent Financial Policies; S
Slide 27: Key Company Details
Key Company Details 26
Slide 28: Shareholding Pattern
Shareholding Pattern Shareholder December-2022 March-2023 Type Promoters* 67.1% 67.2% FIIs & DIIs 25.2% 25.6% Others 7.7% 7.2% Total 100.0% 100.0% *Nil shares are pledged ▷ Market Cap - ~Rs. 4,274 crore / ~ US$ 534 million (25th May, 2023) US$ 1 = ~Rs 80 27
Slide 29: Board of Directors
Board of Directors 200+ years of combined experience across real estate, banking & finance, law & compliance Kamal Khetan ~3 decades of experience in the Real Estate industry. Formulate corporate strategy, CMD acquisition, execution & diversification plans. Atul Poopal >3 decades of experience in th
Slide 30: Completed Residential Projects (11 projects)
Completed Residential Projects (11 projects) 10 projects delivered completed till FY22 1. Signature Island, BKC 2. Signia Isles, BKC 3. Signia Pearl, BKC 4. Signia High, Borivali E 5. Signia Oceans, Airoli 29 6. Signia Skys, Nagpur 7. Sig. Waterfront, Airoli 8. Gilbird Hill, Andheri W 9. S. City Ave
Slide 31: Completed Residential Projects (11 projects)
Completed Residential Projects (11 projects) ~2 mn sq ft - Sunteck West World, Naigaon completed in FY23 30 11. Sunteck West World, Naigaon
Slide 32: Completed Commercial Projects (5 projects)
Completed Commercial Projects (5 projects) Sunteck Pinnacle (DMart) and Sunteck Crest completed in 2023 12. Sunteck Center, Vile Parle 13. Sunteck Kanaka, Goa 14. Sunteck Grandeur, Andheri E 15. Pinnacle (DMART), ODC 16. Sunteck Crest, Andheri E 31
Slide 33: Ongoing Projects - Residential
Ongoing Projects - Residential ~5 mn sq ft (8 projects) of execution underway across segments (5 residential + 3 commercial) 1. Sunteck Maxx World, Naigaon 2. Sunteck City 4th Avenue, ODC Goregaon W 32
Slide 34: Ongoing Projects - Residential
Ongoing Projects - Residential ~5 mn sq ft of execution underway across segments (5 residential + 3 commercial) 3. Sunteck One World, Naigaon 4. Sunteck Beach Residences, Vasai W 5. Sunteck Sky Park, Mira Rd. 33
Slide 35: Ongoing Projects - Commercial
Ongoing Projects - Commercial ~5 mn sq ft of execution underway across segments (5 residential + 3 commercial) 6. Sunteck BKC 51, BKC Jn. 7. Sunteck Icon, BKC Jn. 8. Sunteck Pinnacle 1, ODC 34
Slide 36: ESG & Awards
ESG & Awards 35
Slide 37: Embarking on the ESG Journey
Embarking on the ESG Journey ˃ With these certifications Sunteck reinforces its promise to ˃ As an EDGE Green Building Champion, Sunteck is delivering world-class properties that are luxurious and recognized for leading the green building certification environmentally sustainable. and its efforts to
Slide 38: Green Building Initiatives
Green Building Initiatives ˃ Four of Sunteck prestigious projects, 4th Avenue, SunteckCity, ODC ˃ Our HO “Sunteck Centre” has Goregaon; Sunteck Maxxworld & Sunteck ONEWorld, Naigaon and been awarded LEED Operations Sunteck Beach Residences (SBR), Vasai has been awarded with EDGE and Maintenance V 4.
Slide 39: Awards & Recognitions
Awards & Recognitions Best ESG Initiative of the Year - Best ESG Initiative to improve Year 2022 biodiversity impact reduction 1. Sustainable Initiative of the Year 2023 2. Sustainable Best Initiative of the Year 2023 – Go Green 38
Slide 40: Thank You
Thank You ir@sunteckindia.com 39