Puravankara Limited · NSE:PURVA
Puravankara — Q4 FY24 Earnings Presentation
60 slides from Puravankara's earnings presentation, May 23, 2024
Slide 1: Stock exchange intimation of analyst presentation
Date: 23.05.2024 To, The General Manager, The Manager, Listing Operations Listing Department, Department of Corporate Services National Stock Exchange of India Limited, BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1, G P. J. Towers, Dalal Street, Fort, Block, Bandra-Kurla Complex, Bandra (E), M
Slide 2: Investor Presentation Q4 FY24
INVESTOR PRESENTATION Q4 FY24 Investor Presentation Q4 FY24 1 Artist’s impression of Purva Emerald Bay, Pune
Slide 3: Table of contents
Table of contents * Company Overview 4 – 12 * Operational Overview – Sales and Collections 13 – 18 * Land Bank & Launch Pipeline 19 – 23 * Update on Financials 24 – 27 * Update on Cash flows 28 – 31 * Update on Debt 32 – 36 * Update on inventory : Project Status 37 – 42 * Other corporate information
Slide 4: Industry Update
Industry Update In the Residential sector, Leasing activity declined by apartment sales decreased by 2% 25% Q-o-Q & 3% Y-o-Y. Q-o-Q but increased by 8% Y-o-Y Resid Office Sector Bangalore, Hyderabad and Continued momentum ential Sector Total share of sales in Pune, Delhi-NCR accounted for Mumbai and
Slide 5: Company Overview
Company Overview Investor Presentation Q4 FY24 4
Slide 6: Differentiated Brands Offering Wider Customer Base; Larger Market Share
Differentiated Brands Offering Wider Customer Base; Larger Market Share. Plotted Development • Established in 1975, 49 years of experience in real estate development • India's most reliable real estate 86 23,000 + developer, with an established presence Completed residential Homes with Total Area in
Slide 7: Our Journey begins in Redevelopment segment in Mumbai
Our Journey begins in Redevelopment segment in Mumbai • Saleable Area - 0.6 msft • Saleable Area – 0.21 msft • Location – Apnaghar, Lokhandwala, Andheri West • Location – Deccan, Pali Hills, Mumbai • GDV – INR 1500 Crores • GDV – INR 2100 Crores • Development agreement (DA) signed for unit 4 & 5. •
Slide 8: Partnership with HDFC Capital for INR 1150 crores
Partnership with HDFC Capital for INR 1150 crores • Provident Housing Secures INR 1,150 Crores Investment from HDFC Capital. • This strategic collaboration will add an additional 6.2 msft of new residential projects to the ongoing 14.8 msft with a combined Gross Development Value (GDV) of INR 17,100
Slide 9: Starworth Infrastructure and Construction Ltd
Starworth Infrastructure and Construction Ltd A wholly owned subsidiary focused on technology enabled construction solutions • Order book of more than Rs 1013 Cr. • Undertakes residential, commercial, hospitality, infrastructure & industrial Parkhill projects. Taj GVK • 21+ msft completed & 9+ msft
Slide 10: Key Business Highlights – FY24
Key Business Highlights – FY24 ~INR 5,914 Cr 7.36 msft ~INR 3,609 Cr ~INR 7,916 Sales Value* Sales volume Customer Collections* Average Realization ₹ per sft Increase in sales by Increase in sales volume by 60% YoY increase indicating Increase by 2% YoY 90% YoY 84% YoY improving operating efficienci
Slide 11: Key Business Highlights – Q4 FY24
Key Business Highlights – Q4 FY24 ~INR 1,947 Cr 2.35 msft ~INR 1,094 Cr ~INR 8,285 Sales Value* Sales volume Customer Collections* Average Realization ₹ per sft Increase in sales by Increase in sales volume by 66% YoY increase indicating It is at similar level due to mix of 93% YoY 94% YoY improving
Slide 12: Operational Highlights – FY23 vs FY24
Operational Highlights – FY23 vs FY24 Sales Value (INR Cr) Customer Collections* (INR Cr) Total Revenue (INR Cr) 6,000 5,914 4,000 3,609 2,500 2260 5,500 3,500 5,000 2,000 4,500 3,000 4,000 2,500 2,258 1,407 1,500 3,500 3,107 2,000 3,000 1,500 1,000 2,500 1,000 2,000 500 1,500 500 1,000 - - FY23 FY2
Slide 13: Operational Highlights – Q4FY23 vs Q4FY24
Operational Highlights – Q4FY23 vs Q4FY24 Sales Value (INR Cr) Customer Collections* (INR Cr) Total Revenue (INR Cr) 2,500 1,000 947 1,200 1,094 1,947 2,000 1,000 800 1,500 800 661 600 446 1,007 600 1,000 400 400 500 200 200 - 0 0 Q4Y23 Q4FY24 Q4Y23 Q4FY24 Q4Y23 Q4FY24 Volume (msft) Realization (INR
Slide 14: Operational Overview: Sales and Collections
Operational Overview Sales and Collections Investor Presentation Q4 FY24 13
Slide 15: Sales FY24 Vs FY23
Sales FY24 Vs FY23 Based on Bookings Year Ended Area Sold Units Sold Sale Value Sale Realization Mar-24 Mar-23 % Mar-24 Mar-23 % Mar-24 Mar-23 % Mar-24 Mar-23 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 2.69 1.72 56% 1668 1054 58% 2752 1622 70% 10,229 9,429 8% Provident 2.6
Slide 16: Sales Q4FY24 Vs Q4FY23
Sales Q4FY24 Vs Q4FY23 Based on Bookings Quarter Ended Area Sold Units Sold Sale Value Sale Realization Mar-24 Mar-23 % Mar-24 Mar-23 % Mar-24 Mar-23 % Mar-24 Mar-23 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 0.60 0.62 -3% 357 407 -12% 637 602 6% 10,615 9,705 9% Provident
Slide 17: Sales area Classification – Unit Value & Regional contribution
Sales area Classification – Unit Value & Regional contribution Q4FY24 FY24 Unit Value wise contribution to sales value Rs.0 -0.5 cr Rs.0 -0.5 cr > Rs.2 cr 5% > Rs.2 cr 7% • Unit Value wise –79% of the 23% 21% Group’s sales are accounted Rs.0.5 - 1 cr 27% by units which costs less Rs.0.5 - 1 cr than
Slide 18: Steady Sales Performance
Steady Sales Performance Sales Value (in INR Cr) 6,500 5,914 6,000 5,500 5,000 4,500 4,000 3,500 3,107 3,000 2,407 Company sales have 2,500 2202 2,000 1,714 experienced consistent 1,500 growth over the past five 1,000 years at CAGR of 28% 500 FY20 FY21 FY22 FY23 FY24 8 Sales Volume (in msft) 7.36 7
Slide 19: Collections trend
Collections trend 1,200 1,094 1,000 941 184 879 150 800 131 696 341 661 621 108 303 600 134 518 124 445 458 307 102 400 122 232 103 223 236 221 144 569 161 488 441 200 356 274 291 198 176 195 - Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY 23 Q1 FY 24 Q2 FY 24 Q3 FY 24 Q4FY 24 PL PHL Purva Land Total Collec
Slide 20: Land Bank
Land Bank Artist’s impression of Purva Atmosphere Investor Presentation Q4 FY24 19
Slide 21: Diversified across markets, brands and stages of development
Diversified across markets, brands and stages of development in million sq. ft. Completed Ongoing Land Assets Total (A) (B) (A)+(B) South India Bengaluru 35.01 16.73 25.30 42.03 Chennai 6.54 6.43 0.79 7.22 Hyderabad 2.78 0.05 0.00 0.05 Kochi 2.74 3.12 2.94 6.06 Others 1.70 0.23 0.45 0.68 West India
Slide 22: Ongoing and new launches
Ongoing and new launches Non-Bengaluru projects now account for 47% of the share of ongoing Provident accounts for 52% of the launch pipeline; in line with the market and 82% of launch pipeline. Mumbai & Pune together constitutes trends and the Group‘s strategy 29% of the launch pipeline indicating
Slide 23: Launch pipeline
Launch pipeline New Open at the time Development Developable Area Saleable area Expected launch Sr. no Location/ Project Name City Project/New PL Share in JD of launch Model (msft) (msft) date phase (msft) Puravankara 1 Bellandur Bengaluru Owned New project 0.47 100% 0.47 0.47 Q3FY25 2 Amaiti 2 Coim
Slide 24: Launches during FY24
Launches during FY24 Developable Area Saleable Area Launched Area Launches during the current year Sl.No Launch Quarter Project Name City (msft) (msft) (msft) 100% = 10.76 msft 1 Q1 FY 23 Purva Sound of water III Bengaluru 0.24 0.14 0.14 2 Q1 FY 23 Purva Ragaam Chennai 0.77 0.19 0.19 3 Q2 FY24 Provi
Slide 25: Update on Financials
Update on Financials Investor Presentation Q4 FY24 24
Slide 26: Consolidated statement of profit & loss for the year ended March 31, 2024
Consolidated statement of profit & loss for the year ended March 31, 2024 All numbers in INR Cr Particulars FY24 FY23 Income from operations • Our Total Income from Revenue from projects 2,185.26 1,235.77 Operations for FY24 increased by 61% y-o-y Other Income 74.84 171.22 Total Income from operatio
Slide 27: Consolidated statement of profit & loss for the quarter ended March 31, 2024
Consolidated statement of profit & loss for the quarter ended March 31, 2024 All numbers in INR Cr Particulars Q4FY24 Q3FY24 Q4FY23 Income from operations • Our Q4 FY 24 Total Income Revenue from projects 919.97 573.70 388.99 up by 112% y-o-y Other Income 26.87 22.18 57.40 • Total Comprehensive Tota
Slide 28: Consolidated Balance Sheet as at 31 March 2024
Consolidated Balance Sheet as at 31 March 2024 Equity and Liabilities 31 March 2024 31 March 2023 Assets 31 March 2024 31 March 2023 Audited Audited Audited Audited Shareholders' Funds Non-Current Assets (a) Equity share capital 119 119 (a) Property, plant and equipment 145 84 (b) Other equity attri
Slide 29: Update on Cash flows
Update on Cash flows Investor Presentation Q4 FY24 28
Slide 30: Direct cashflows
Direct cashflows All numbers in INR Cr Cash Flow Statement Q1 FY 24 Q2 FY 24 Q3 FY 24 Q4 FY 24 FY 24 FY 23 YOY A Operating Inflows 866 891 1,070 1,122 3,948 2,808 41% Collection from operations 866 891 1,070 1,122 3,948 2,681 47% Collection from other than operations 0 0 0 0 0 127 B Operating Outflo
Slide 31: Cash Flow - Trends
Cash Flow - Trends Collection from operations Operating inflows 3,948 3,948 4,000 4,000 3,500 3,500 3,000 2,681 3,000 2,808 • Operating inflows 2,500 2,500 increased by 30% YoY 2,000 & 20% QoQ indicating 2,000 improvement in • Total Operating 1,500 1,500 customer collections Inflows surged by 41% 1,
Slide 32: Cash Flow Potential
Cash Flow Potential Puravankara Provident Purva Land Total Balance collections from sold units 1 (A) 1,961 1,654 841 4,457 • Cashflow Visibility of • Cashflow Rs.6730Visibility Crores ofin next Value of Inventory open for sale 2 (B) 3,605 2,246 1,106 6,957 Rs.7,455 3-4 yearsCrores in next 3- 4 years
Slide 33: Update on Debt
Update on Debt Investor Presentation Q4 FY24 32
Slide 34: Debt movement pattern
Debt movement pattern All numbers in INR Cr in Rs. Cr Q4FY24 Q3FY24 Q2FY24 Q1FY24 Q4FY23 Opening Balance 2563 2616 2581 2626 2575 Net Addition (Repayment) 519 -53 35 -45 51 Debt Outstanding 3082 2563 2616 2581 2626 Less: Cash and Cash Equivalents 931 822 624 462 418 Net debt 2151 1741 1992 2119 2208
Slide 35: Debt Composition
Debt Composition Debt Composition Q3FY24 Q4FY24 Movement • The strong liquidity profile ensuring stability and Residential 2,135 2,364 229 operational continuity. Land 259 522 263 • During the quarter, we have Capex towards Commercial development 169 196 27 repaid IFC investments which had a higher
Slide 36: Borrowing Cost Management
Borrowing Cost Management Debt/ sft of under construction area Q4FY24 Q4FY23 Q4 FY22 Q4FY21 Q4FY20 Q4FY19 • Over the last 6 years, Net Debt 2151 2208 1846 2299 2536 2743 We have consistently reduced the debt per Ongoing Projects (msft) 25 20 15 13 13 13 square foot of our under-construction Net Debt
Slide 37: Debt Management & Repayment Schedule
Debt Management & Repayment Schedule Amount Particulars Repayment Schedule INR Cr (in Rs crore) Group A - Ongoing (including not launched for sale) projects Balance customer collection A 16,046 More than • Group’s net debt is Rs Balance cost to go B 8,591 3 years 2,151 Crore which Surplus from ongoi
Slide 38: Project Status
Project Status Provident Sunworth Investor Presentation Q4 FY24 37
Slide 39: Project Status – Completed Projects as on March 31, 2024
Project Status – Completed Projects as on March 31, 2024 Area Sold JD / JV Share Developable Puravankara's Share - S.No. Project Location Total Flats for Inventory Area Developable Area Launched Cumulative Developer Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % COMPLETED Puravankara 1 Silvers
Slide 40: Project Status – Under Construction as on March 31, 2024
Project Status – Under Construction as on March 31, 2024 JD / JV Share Area Sold Developable Puravankara's Share - S.No. Project Location Total Flats for Launched Cumulative Inventory Area Developable Area Developer Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION Puravankara
Slide 41: Project Status – Not yet open for Sale as on March 31, 2024
Project Status – Not yet open for Sale as on March 31, 2024 JD / JV Share Developable Puravankara's Share - S.No. Project Location Total Flats for Sold Cumulative Unsold Inventory Area Developable Area Developer Area Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % PHASES NOT OPEN FOR S
Slide 42: Ongoing (open for sale) Residential Projects- City wise
Ongoing (open for sale) Residential Projects- City wise City Total Projects Area Puravankara’s share Sold Area Inventory Mnsft Mumbai 1.10 0.67 0.38 0.29 2 Bengaluru 10.24 8.33 5.63 2.70 16 Chennai 5.84 5.26 1.23 4.03 4 Kochi 1.97 1.25 0.99 0.26 2 Pune 1.06 0.92 0.34 0.58 3 Goa 1.63 1.37 1.07 0.31 1
Slide 43: Possession during FY 24
Possession during FY 24 We have given total possession for 2,614 units in FY 24 across the Puravankara Group. Projects for which Occupancy certificate received during FY 24 Saleable Revenue Recognized Pending to be Recognized Unsold Value(Cr) Projects No. of Units Area (msft) No. of Units Area (msft
Slide 44: Appendix 1: Other Corporate Information
Appendix 1: Other Corporate Information Investor Presentation Q4 FY24 43
Slide 45: Governance Structure to drive long term growth
Governance Structure to drive long term growth Executive Team Ravi Puravankara Ashish Puravankara Nani R. Choksey Abhishek Kapoor Chairman Managing Director Vice Chairman Executive Director & CEO • Over 49 years of experience in the • Former President of CREDAI- • Experience of over 49 years in the
Slide 46: Governance Structure to drive long term growth Contd.
Governance Structure to drive long term growth Contd. Non-Executive Directors Anup Shah Sanmukh Shailaja Jha K G Krishnamurthy Non- Executive Independent Non- Executive Independent Non- Executive Independent Director Director Director • Bachelor’s degree in Commerce • MMS Degree from BITS, Pilani •
Slide 47: Key Strengths/Building a strong strategy/Growth Drivers
Key Strengths/Building a strong strategy/Growth Drivers Land Bank Potential Business Development-Strong pipeline Rich Talent Credit Rating Continued unlocking of development of business development Strong & Experienced Leadership Stable potential . ongoing commitment to business Senior executives in
Slide 48: Shareholding Pattern as of March 31, 2024
Shareholding Pattern as of March 31, 2024 Others, Insurance 7.96% Companies, 0.39% FII & FPI, FPIs 16.65% Gothic Corporation Atyant Capital Duke Endowment Insurance and Bodies Corporate Life Insurance Corporation Promoter, General Insurance Corporation 75.00% Notes 1. Promoter Shares are unencumbere
Slide 49: Share Price Movement
Share Price Movement Notes: Graph rebased to 100 650 600 550 500 450 400 350 300 250 200 150 100 50 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 PURVA SENSEX BSE REALTY 01-Mar-23 21-May-24 % Change PURVA 80.17 451.85 463.61% SENSEX 59411.08
Slide 50: Awards and Accolades
Awards and Accolades CIDC Vishwakarma Award 2024 CREDAI CARE 2023 Construction Week Awards 2023 ET EDGE AWARDS Creating social development and impact Lifetime achievement award for Lifetime achievement award for Iconic Brands of India 2023 through CSR efforts Chairman Ravi Puravankara Chairman Ravi
Slide 51: Sustainability
Sustainability ❖ Puravankara published it’s second consolidated ESG report for FY’22 and FY’23 along with Business Responsibility Sustainability Reporting (BRSR) ❖ Received IGBC Gold pre-certification for Purva Zentech & Purva Meraki ❖ Purva complies to ASHRAE standards for all Commercial projects ❖
Slide 52: Appendix 1: Recently Completed Projects
Appendix 1: Recently Completed Projects PURVA ZENIUM (Phase 1) PURVA PROMENADE Bangalore Bangalore Investor Presentation Q4 FY24 51
Slide 53: Appendix 1: Recently Completed Projects
Appendix 1: Recently Completed Projects PURVA MARINA ONE (PHASE 1) PURVA SILVERSANDS Kochi Pune Investor Presentation Q4 FY24 52
Slide 54: Appendix 2: Ongoing Projects
Appendix 2: Ongoing Projects PURVA ATMOSPHERE PURVA BLUBELLE Bangalore Bangalore Investor Presentation Q4 FY24 53
Slide 55: Appendix 1: Recently Completed Projects
Appendix 1: Recently Completed Projects PROVIDENT NEORA EQUINOX Bengaluru Bengaluru Investor Presentation Q4 FY24 54
Slide 56: Appendix 2: Ongoing Projects
Appendix 2 : Ongoing Projects PROVIDENT ADORA DE GOA PROVIDENT CAPELLA Goa Bangalore Investor Presentation Q4 FY24 55
Slide 57: Appendix 2: Ongoing Projects
Appendix 2: Ongoing Projects PURVA SOMERSET PURVA WINDEREMERE Chennai Chennai (Received OC in April 24) Investor Presentation Q4 FY24 56
Slide 58: Appendix 3: Ongoing commercial projects
Appendix 3 : Ongoing commercial projects Purva Aerocity PURVA AEROCITY PURVA ZENTECH Bengaluru Bengaluru Investor Presentation Q4 FY24 57
Slide 59: Disclaimer
Disclaimer This presentation has been prepared by Puravankara Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Puravankara Ltd.'s future business prospects and business profitability, which are subject to a number of ri
Slide 60: Thank You
THANK YOU Puravankara Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Corporate Identification Number : L45200KA1986PLC051571 Website:- https://www.puravankara.com/ Investor Relations Contact: Mr. Neeraj Gautam, President- Finance Email – neeraj.gautam@puravankara.com; Tel: