Puravankara Limited · NSE:PURVA
Puravankara — Investor Presentation (March 2016)
51 slides from Puravankara's investor presentation, March 2016
Slide 1: Puravankara Projects Limited
Purva Venezia, Bengaluru Puravankara Projects Limited March 2016
Slide 2: Contents
Contents • Company Overview 3-9 • Area information 10 - 16 • Sales 17 - 20 • Cash Flows 21 - 24 • Income Statement Analysis 25 - 30 • Balance Sheet and Statement of Capital Employed 31 - 33 • Debt 34 - 35 • Shareholding Pattern/ Stock Movement 36 - 38 • Leadership 39 • Location Maps 40 - 44 • Projec
Slide 3: Company Overview
PURAVANKARA Company Overview
Slide 4: Overview
Overview • Deep domain knowledge of 40 years of the Promoter Mr. Ravi Puravankara, and his team have established Puravankara as a developer of repute; • Amongst South India’s leading real estate developer with an established presence in residential segment comprising of luxury and premium affordable
Slide 5: Premium Affordable housing through Provident Brand
Premium Affordable housing through Provident Brand • Established Provident Housing Limited in 2008 to create mid and mass housing projects comprising quality affordable apartments in response to burgeoning demand for mid-income housing • Affordability is a combination of – Efficient design improving
Slide 6: Projects portfolio of Provident
Projects portfolio of Provident Pudupakkam / Chennai / (2.2 msft)/ Completed FY 2009-2010 Doddaballapur Rd, Bengaluru (3.5 msft) / Completed For Video please click: Provident Welworth City FY 2011-2012 Thannisandra Road / Bengaluru / (0.7 msft) Mysore road / Bengaluru / (6.0 msft) For Video please c
Slide 7: Land Assets across various established micro-markets
Land Assets across various established micro-markets Land portfolio Developable area breakup in millions sq. ft. (msft) Completed Ongoing Upcoming Land Assets Total (A) (B) (C) (A)+(B)+(C) Bengaluru 21.44 12.77 8.18 45.30 66.25 Chennai 3.06 4.84 7.05 4.66 16.55 Kolkata 0.70 - - - - Kochi 1.89 0.24 7
Slide 8: Ongoing and Upcoming Development
Ongoing and Upcoming Development By geography By entity By segment Upcoming 13% Upcoming Upcoming 7% Ongoing Ongoing Ongoing 12% 32% 2% 37% 2% 10% 40% 1% 54% 60% 21% 98% 31% 93% 87% Bengaluru Chennai Kochi Puravankara Provident Residential Commercial Coimbatore Hyderabad Mangalore in msft Ongoing Up
Slide 9: Summary of Financial Performance
Summary of Financial Performance Revenues (INR crores) EBITDA (INR Crores) Profit Before Tax (INR Crores) Profit After Tax (INR Crores) 1685 1,568 700 70% 400 356 30% 300 25% 595 29% 600 61% 60% 350 25% 250 243 1,313 480 24% 243 19% 20% 1,248 300 500 49% 50% 200 17% 397 395 20% 160 367 250 196 19% 1
Slide 10: Area Information
PURAVANKARA Area Information 10
Slide 11: Area Under Development – Snapshot
Area Under Development – Snapshot in millions sq. ft. (numbers in millions sq. ft.) FY12 FY13 FY14 FY15 FY16 Opening Area 21.12 23.74 28.04 28.43 24.01 Add: Launches/Revisions during the period 1 5.80 7.28 4.26 1.12 2.46 Less: Completed during the period 2 (3.18) (2.98) (3.87) (3.31) (2.83) Less : E
Slide 12: Current Project Status – 31 March 2016
Current Project Status – 31 March 2016 Puravankara's On Area Launched Developable Total JD / JV Share S.No. Project Location Share - Area Area Flats for Developer Sold Cumulative Inventory Developable Area Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % COMPLETED Puravankara 1 Venezia
Slide 13: Current Project Status – 31 March 2016 – (contd.)
Current Project Status – 31 March 2016 – (contd.) On Area Launched Puravankara's Developable Total JD / JV Share S.No. Project Location Share - Area Area Flats for Developer Sold Cumulative Inventory Developable Area Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION Pu
Slide 14: Current Project Status – 31 March 2016 – (contd.)
Current Project Status – 31 March 2016 – (contd.) Puravankara's On Area Launched Developable Total JD / JV Share S.No. Project Location Share - Area Area Flats for Developer Sold Cumulative Inventory Developable Area Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % PHASES TO BE LAUNCHED
Slide 15: Geographic break up of Inventory Status
Geographic break up of Inventory Status Ready to move in Inventory – By Region Ready to move in Inventory - By Entity Kochi 0.38 msft; 202 Bengaluru units Provident Puravankara 0.93 msft; 0.82 msft; 1.17 msft; 571 684 units 800 units units Chennai 0.68 msft; 485 units 1. Notes: Charts based on area
Slide 16: Immediate Launches - Schedule
Immediate Launches - Schedule Development Development Developable Area PPL Share in Saleable Expected Launch S. No Location City Model Type JD Area Date Msft Msft Puravankara 1 Mallasandra Bengaluru Joint Development Residential 1.94 87.50% 1.69 Q2FY17 2 Lalbagh Bengaluru Joint Development Residenti
Slide 17: Sales
PURAVANKARA Sales 17
Slide 18: Sales – Q4 FY16, 31st March 2016
Sales – Q4 FY16, 31st March 2016 Based on Bookings Quarter Ended Area Sold Units Sold Sale Value Sale Realization Mar-16 Mar-15 % Mar-16 Mar-15 % Mar-16 Mar-15 % Mar-16 Mar-15 % msft msft Nos. Nos. Rs. Crores Rs. Crores Rs.psft Rs.psft Puravankara 0.16 0.10 67% 106 213 -50% 71 69 3% 4,406 6,031 -27%
Slide 19: Sales – Year Ended 31st March 2016
Sales – Year Ended 31st March 2016 Based on Bookings Full Year Ended Area Sold Units Sold Sale Value Sale Realization Mar-16 Mar-15 % Mar-16 Mar-15 % Mar-16 Mar-15 % Mar-16 Mar-15 % msft msft Nos. Nos. Rs. Crores Rs. Crores Rs.psft Rs.psft Puravankara 0.84 2.07 -59% 619 1,586 -61% 465 1,146 -59% 5,5
Slide 20: Sales Breakup
Sales Breakup FY16 By Entity FY16 By Geography Coimbatore 5% Kochi 6% Mangalore 0% 0.09 msft 0.12 msft 0.003 msft Provident 55% 1.05 msft Chennai 11% 0.21 msft Bengaluru 50% 0.94 msft Puravankara 45% 0.84 msft Hyderabad 28% 0.53 msft 20
Slide 21: Cash Flows
PURAVANKARA Cash Flows 21
Slide 22: Cash Flow – Summary
Cash Flow – Summary Rs. crores Puravankara Provident Total Balance collections from sold units 1 (A) 874 434 1,308 Inventory 2 (B) 4,564 2,652 7,216 Residential 4,384 2,652 7,036 Launched 2,673 1,324 3,997 Not Launched 1,711 1,328 3,039 Commercial 180 - 180 Balance cost to go 3 (C) 1,582 1,550 3,132
Slide 23: Cash Flow Statement
Cash Flow Statement Rs. crores Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 FY 2016 FY 2015 Receipts Collection from Sale of Flats 328.13 343.12 305.10 368.68 1,345.03 1,462.95 Advance recd for sale of land - 140.00 - - 140.00 161.56 Equity Redemption and Dividend from - 54.40 - - 54.40 38.74 Associates A Total
Slide 24: Cash Flow Statement (Contd)
Cash Flow Statement (Contd) Rs. crores Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 FY 2016 FY 2015 Investment Activity Purchase of Fixed Assets (2.79) (8.37) (1.67) 3.50 (9.33) (34.55) Investment in Subsidiaries/Associates - 0.10 0.34 - 0.44 - Investment in Mutual Funds - - - - - - Net investment in bank deposi
Slide 25: Income Statement Analysis
Income Statement Analysis 25
Slide 26: Income Statement – Summary
Income Statement – Summary Rs. Crores Recognised in FY2016 (from projects) Puravankara Provident Purva Star Others Total Revenue Recognised 1 (A) 969 424 112 32 1,537 Land Cost Recognized (B) 149 14 2 1 166 Construction Costs Recognised 2 (C) 612 313 86 (3) 1,008 Surplus (A) – (B) – (C) 209 97 24 34
Slide 27: Result Highlights
Result Highlights Rs. crores Other Subsidiaries and Q4FY16 Puravankara Provident Starworth Consolidated Eliminations Total Revenues 210 97 49 -23 333 YoY growth (%) -30% 9% -17% -19% Profit Before Tax 11 9 -2 2 20 YoY growth (%) 22% -18% NA -33% margins (%) 5% 9% -4% 6% Profit After Tax 7 5 -1 0 11
Slide 28: Consolidated Statement of Profit and Loss for the quarter ended 31 March 2016
Consolidated Statement of Profit and Loss for the quarter ended 31 March 2016 Rs. crores Q4FY16 Q4FY15 Q3FY16 Income Revenue from operations Revenue from projects 315 406 358 Other operating revenues 3 3 5 Other income 15 0 1 Total 333 409 363 Expenses Material and contract cost 242 238 210 Land cos
Slide 29: Consolidated Statement of Profit and Loss for the Year ended FY16
Consolidated Statement of Profit and Loss for the Year ended FY16 Rs. crores FY16 FY15 Income Revenue from operations Revenue from projects 1,538 1,659 Other operating revenues 13 14 Other income 17 13 Total 1,568 1,685 Expenses Material and contract cost 991 889 Land cost 350 169 Decrease/(increase
Slide 30: Key Financial Indicators
Key Financial Indicators Valuation Matrix (X) FY 2016 FY 2015 FY 2014 FY 2013 Income Statement (INR crs) FY 2016 FY 2015 FY 2014 FY 2013 Price/Earnings 16.65 11.08 9.93 7.91 Total Income 1568 1685 1313 1248 Price /BV 0.48 0.65 0.74 1.01 EBITDA from Operations 367 395 481 595 EV/Sales 1.91 1.80 2.39
Slide 31: Balance Sheet and Statement of Capital Employed
Balance Sheet and Statement of Capital Employed 31
Slide 32: Consolidated Balance Sheet as of 31 March 2016
Consolidated Balance Sheet as of 31 March 2016 Rs. crores March March March March Equity and Liabilities Assets 2016 2015 2016 2015 Shareholders' Funds Non-Current Assets Share capital 119 119 Fixed assets 118 124 Reserves and surplus 2,187 2,142 Non-current investments 51 69 2,305 2,261 Properties
Slide 33: Consolidated Statement of Capital Employed
Consolidated Statement of Capital Employed Rs. crores 31-Mar-16 31-Mar-15 Sources of Funds Equity 119 119 Reserves and Surplus 2,187 2,305 50% 2,142 2,261 56% Optionally Convertible Debentures 116 3% 0% Total Debt 2,177 47% 1,780 44% Total 4,598 100% 4,040 100% Application of Funds Land Investments
Slide 34: Debt
PURAVANKARA Debt 34
Slide 35: Debt Structure – March 2016
Debt Structure – March 2016 Others- Rs. 29 Cr, 1% Term Loans - Subsidiaries / Associates at interest rate of 12.46%, Rs. 406Cr, 19% Over Drafts at interest rate of 12.15%, Rs. 172 Cr , 7% Term Loans/Construction Finance at interest rate of 11.89%, Rs. 1,570Cr, 73% in Rs. Cr Q4 FY16 Q3 FY16 Q2 FY16 F
Slide 36: Shareholding Pattern
PURAVANKARA Shareholding Pattern 36
Slide 37: Shareholding Pattern – as on 31 March 2016
Shareholding Pattern – as on 31 March 2016 DIIs Others 1% 5% Mutual Funds 4% FPIs 15% Promoters 75% Notes Key Shareholders 1. Promoter Shares are unencumbered Mutual Funds FPIs Insurance and Bodies Corporate Reliance AMC GHI Life Insurance Corporation Axis Mutual Fund HSBC General Insurance Corporat
Slide 38: Stock Movement
Stock Movement Relative to BSE Realty Index and Sensex during March 31, 2015 to March 31, 2016 140 130 120 110 100 90 80 70 60 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Puravankara Sensex BSE Realty As on 31st March 2016 31-Mar-16 31-Dec-15 30-Sep-15
Slide 39: Dedicated and experienced management team – committed to best practices of corporate governance
Dedicated and experienced management team – committed to best practices of corporate governance Executive team Non-Executive team Ravi Puravankara Chairman R.V.S. Rao • Over 40 years of experience in real estate industry Independent Director • Former president of the International Real Estate Federa
Slide 40: Bengaluru location map
Bengaluru location map Sl. No. Project Name 1 Highlands/High Crest, Mallasandra 2 Mid-Town, KR Puram 3 Seasons, CV Raman Nagar 4 Sunflower, Magadi Road 5 Skywood, Sarjapur Road 6 Whitehall, Sarjapur Road 7 Harmony, Thannisandra Road 8 Welworth City, Doddaballapur Road 9 Sunworth, Mysore Road 10 Gain
Slide 41: Chennai location map
Chennai location map Sl. No. Project Name 1 Cosmo City, Pudupakkam 2 Swan Lake, OMR 3 Windermere, Medavakkam 4 Primus, OMR 5 Moneto, Guindy 6 Pudupakkam Current Projects Immediate Launches Note: Map not to scale 41
Slide 42: Kochi location map
Kochi location map Sl. No. Project Name 1 Oceana, Marine Drive 2 Grandbay, Marine Drive 3 Eternity, Kakkanad 4 Moonreach, Airport-Seaport Road Current Projects Note: Map not to scale 42
Slide 43: Coimbatore location map
Coimbatore location map Sl. No. Project Name 1 Bluemont/Amaiti, Trichy Road 2 GreenPark, Selvapuram Current Projects Note: Map not to scale 43
Slide 44: Mangalore location map Hyderabad location map
Mangalore location map Hyderabad location map Sl. No. Project Name Sl. No. Project Name 1 Skyworth, Derebail 1 Summit, Kondapur Note: Map not to scale Current Projects 44
Slide 45: Project Pictures
PURAVANKARA Project Pictures PROVIDENT Welworth City PURVA ATRIA| , Luxury Apartmen
Slide 46: Project Pictures
PURAVANKARA SUuaiii| PROVIDENT Sunworth Project Pictures
Slide 47: Project Pictures
PURAVANKARA Project Pictures
Slide 48: Project Pictures
Project Pictures Sn te wa Pr Or, PURVA _ VENGZIA 48 tA
Slide 49: Awards and achievements
Awards and achievements Awards for Puravankara projects Purva Grand Bay - ESTRADE REAL ESTATE AWARDS 2015 - Best Project in a Non- Metro – 2015 Indian Concrete Institute(ICI), Kochi and UltraTech Cement Limited Best Residential Building - 2015 Purva Evoq - 7th REALTY PLUS EXCELLENCE AWARDS for Resid
Slide 50: Disclaimer
Disclaimer This presentation contains certain forward-looking statements. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, o
Slide 51: THANK YOU
THANK YOU Puravankara Projects Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Corporate Identification Number : L45200KA1986PLC051571 Website:- www.puravankara.com Please contact: Mr. Hari Ramakrishnan, Deputy Chief Financial Officer Email: hariramky@puravankara.com; Tel: