Shriram Properties Ltd. · NSE:SHRIRAMPPS
Shriram Properties — H1 FY25 Earnings Presentation
33 slides from Shriram Properties's earnings presentation, Nov 14, 2024
Slide 1: Cover letter to stock exchanges
November 14, 2024 National Stock Exchange of India Limited BSE Limited The Listing Department Dept of Corporate Services Exchange Plaza, 5th Floor Phiroze Jeejeebhoy Towers Plot C 1 – G Block Dalal Street, Fort Bandra-Kurla Complex, Bandra (E) Mumbai 400 001 Mumbai 400 051 Scrip Code : 543419 Scrip
Slide 2: Investor Presentation H1FY25 Results
Investor Presentation H1FY25 Results November 14, 2024 Artist’s impression of Shriram Symphony, Uttarpara, Kolkata
Slide 3: Disclaimer
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shriram Properties Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, an
Slide 4: oe Ky
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Slide 5: Successful Brand Transition Efforts… A New Beginning
Successful Brand Transition Efforts… A New Beginning Digital Campaign 37 Days | 205 Mn Impressions | 72.8 Mn Reach | 2 Mn+ Views on YouTube Launch Events 3 Cities | 6 High Voltage Events | 950+ Attendees Outdoor Visibility 37 Days | 3 Cities | 600+ Hoardings Media 113 Media Coverage instances from t
Slide 6: Honoring The Past, Embracing The Future…
Honoring The Past, Embracing The Future… Journey since RERA* Demonstrated Strengths Our 3 Year Mission (2024-2027) Sales volume (msf) Scalable and seamless operating platform 1 3.5x 4.6 Partnership management capabilities 1.3 United Team Embracing an asset-light development strategy 2017 2024 2x Rev
Slide 7: Q2 | H1 FY25 Overview
Q2 | H1 FY25 Overview 5 Artist’s impression of Shriram WYT Field, Whitefield, Bengaluru
Slide 8: Q2 FY25 – A Challenging Quarter, but a Short-term Aberration
Q2 FY25 – A Challenging Quarter, but a Short-term Aberration Seasonal issues impacted industry sales volumes • Two inauspicious periods in the same quarter [Aadi/Ashada & Shradh] [vs one last year]. • Reduced launches and completions, amidst administrative delays impacting the sector. • Unseasonal r
Slide 9: Industry Volume Trends – Deferred, Not Lost
Industry Volume Trends – Deferred, Not Lost Top-7 Markets Sales volume Soft Customer Sentiments: YoY - 11% (No. of Units in Lacs) Aadi/Ashada & Shradh periods led to subdued sentiment, delaying deal closures in Q2, QoQ - 11% 1.20 1.30 1.27 despite strong interest levels. 1.07 Industry-wide Approval
Slide 10: KPI Summary: Q2 | H1 FY25
KPI Summary : Q2 | H1 FY25 Sales volume Sales value Collection Handovers 47% 51% 13% 10% QoQ QoQ QoQ QoQ Q2 FY25 1.03 568 363 587 msf1 Crores Crores No's -10% -11% -5% 35% YoY YoY YoY YoY H1 FY25 1.73 945 683 1,122 msf1 Crores Crores No's • Strong sequential growth in Q2, though marginally lower on
Slide 11: Key Highlights: Q2 | H1 FY25
Key Highlights: Q2 | H1 FY25 Operational Performance Financial Performance • Q2 sales volume up 47% QoQ; sales value up 51% QoQ. • Q2 revenues at Rs. 155 Crs. H1 revenues at Rs. 366 Crs – • Driven by sustenance & contributions from launches, though below plan due to delays in OC/CC. towards the quar
Slide 12: Launches – A Snapshot
Launches – A Snapshot Kolkata Chennai Bengaluru Ownership – Own Location - Uttarpara Ownership – DM Area – 0.86 msf Location - Perungalalathur Segment – Mid Market Ownership – JDA Area – 0.61 msf Response - Project received Location - Yelahanka encouraging response, to drive Segment – Mid Market H2
Slide 13: Glimpse of Successful Launches during Q2
Glimpse of Successful Launches during Q2 Shriram Serenity, Bengaluru Shriram Swargam, Chennai Shriram Symphony – Kolkata 11
Slide 14: Pricing Trends: Stable Pricing; Augurs Well for Strong Demand During H2
Pricing Trends: Stable Pricing; Augurs Well for Strong Demand During H2 Price Increase by Project – Top Projects only Avg. Portfolio Price increase Trends Increase in Project Name Development type FY'24 H1 FY'25 FY25 6% Shriram WYT Field Apartment 6,143 7,016 14% Shriram WYT Field – II Apartment 5,9
Slide 15: Financial Highlights: Q2 | H1 FY25
Financial Highlights : Q2 | H1 FY25 Artist’s impression of Shriram 122 West, Mangadu, Chennai 13
Slide 16: Financials Snapshot: Q2 | H1FY25
Financials Snapshot: Q2 | H1FY25 Revenues Gross Margin EBIDTA PAT H1: ₹ 366 Crs. H1: ₹ 94 Crs. H1: ₹ 67 Crs. H1: ₹ 17 Crs. Q2: ₹ 155 Crs. Q2: ₹ 46 Crs. Q2: ₹ 13 Crs. Q2: ₹ (1) Crs. Muted Revenues YoY 32% 18% 5% (H1 FY25) Gross Margin % (H1 FY25) EBIDTA % (H1 FY25) PAT % (H1 FY25) OC/CC delay-led def
Slide 17: Financial Highlights: Profit & Loss - Q2 | H1FY25
Financial Highlights : Profit & Loss - Q2 | H1FY25 Particulars (INR Crs) Q2 FY25 Q2 FY24 H1 FY25 H1 FY24 FY24 Income from operations 140.6 206.2 294.6 341.2 864.6 Other operating revenues 9.7 19.7 62.8 37.3 103.0 Total operating revenues 150.3 225.9 357.4 378.5 967.6 Other income 4.8 5.4 8.6 10.0 19
Slide 18: Financial Highlights: Profit & Loss - Q2 | H1FY25 (contd.)
Financial Highlights : Profit & Loss - Q2 | H1FY25 (contd.) Q2 FY25 o Q2 Revenue recognition suffered due to delayed OC/CC/RO in 3 Projects (see next slide). o Impact of over Rs. 150 Crs in revenue recognition, now deferred to Q3/H2. o Management confident of recouping deferred volumes. Full year Ha
Slide 19: Q2FY25 Revenue Recognition Deferred in 3 Projects
Q2FY25 Revenue Recognition Deferred in 3 Projects Project SPL Area Sold Revenue Revenues Reason for delay Area (%) recognised deferred (msf) till Q2 to Q3/H2 (Rs. Crs) (Rs. Crs) Pristine Estates 0.79 82% ~40 ~85 Release order (part) delayed (Bengaluru) - Demand for penalty related to pre- acquisitio
Slide 20: Consolidated Cash Flows – Q2 | H1 FY25
Consolidated Cash Flows – Q2 | H1 FY25 (Excl. DM & JV cashflows) Amount in Rs. Crs Q2 FY25 Q1 FY25 H1 FY25 H1 FY24 FY24 Collection Trends (Rs. In Crs) Collections 200 156 356 310 699 SPL Own & JDA / JVs / DM DM Income 17 7 24 97 123 1,391 Other Inflows 0 0 0 1 1 721 683 213 Operating Inflow 217 163
Slide 21: Financial Highlights: Balance Sheet | H1 FY25
Financial Highlights : Balance Sheet|H1 FY25 Particulars (Rs Crores) 30-Sep-24 31-Mar-24 Fixed Assets 82 86 Investments, Financial assets and loans 223 295 Inventories 2,706 2,520 Cash and Bank Balances 127 190 Other Assets 715 684 Total Assets 3,852 3,775 Less: Liabilities* 2,557 2,498 Net Assets 1
Slide 22: Debt Profile: Well Managed Leverage Ratios & Cost of Debt
Debt Profile: Well Managed Leverage Ratios & Cost of Debt Debt Profile & Cost of Debt Trends - Consolidated Change in Debt Composition – Sep’21 (Pre-IPO) vs Sep’24 Particulars (Rs. in Crs.) Mar'22 Mar’23 Mar’24 Sep’24 SEP’21 SEP’24 Gross External Debt1 481 553 631 534 Others Banks AIF 6% 3% Others C
Slide 23: Outlook for H2 FY25
Outlook for H2 FY25 Artist’s impression of Shriram Chirping Woods, Sarjapura, Bengaluru 21
Slide 24: FY25 Outlook: Strategy & Guidance
FY25 Outlook: Strategy & Guidance FY25 KPI Targets 20% 27% 29% 17% YOY YOY YOY YOY 5.2-5.5 2750-3000 1700-1800 3300-3500 msf Crs. Crs. No's Sales volume Sales value Collection Handovers _________________________ • YoY Growth % comparison on the higher end of the estimated numbers H2 FY25 Context - S
Slide 25: FY25 Project delivery: Targeting ahead of RERA Timelines
FY25 Project delivery: Targeting ahead of RERA Timelines Project Name Total Area Type No. of RERA date % Estimated (mf) units Completed Completion/ OC 107 South East Phase I 0.45 Apt. 634 19-Jul-2025 Completed ✓ Eden Phase II 0.25 Plots 158 31-Dec-2024 Completed ✓ Pristine Estates 1.11 Plots 513 15-
Slide 26: FY25 Launch Calendar: Largely on track
FY25 Launch Calendar : Largely on track FY25 Project Dev. Launch Project Status change Project details** Region Projected type Model Quarter Area from March Sales volume Shriram Serenity Bangalore Apartments JDA Q2 0.37 0.19 ✓ Shriram Swargam Chennai Apartment DM Q2 1.00^ 0.20 ✓ Shriram Symphony Kol
Slide 27: Project Pipeline update
Project Pipeline update Project Pipeline (msf)* Upcoming – 17 msf Ongoing – 23 msf 1.4 40.2 4.5 11.3 4.3 10.4 8.3 Ongoing Ongoing Ongoing Upcoming Upcoming Upcoming Sub-Total Owned JV / JDA DM Owned JV / JDA DM # 8 10 8 9 6 1 42 Pipeline – By Region Pipeline – By Development Type 16% 14% ✓ Overall p
Slide 28: Thank You
Thank You Artist’s impression of Shriram Blue, KR Puram, Bengaluru 26
Slide 29: Shareholding Pattern as at 30 September 2024
Shareholding Pattern as at 30 September 2024 Category No.of Holders % Promoters 3 28% Shareholding Pattern as at 30 September 2024 Institutions & Corporates 680 32% Public 85,446 40% Institution & Corporates Public Total 86,129 100% 32% 40% Promoters 28% Promoter Shareholding Composition Promoter Na
Slide 30: Other Annexures
Other Annexures 28
Slide 31: Annexure-2: Projects Snapshot by Development Models
Annexure-2: Projects Snapshot by Development Models Own Developments Joint Developments Joint Ventures Development Management Execution Track Record Execution Track Record Execution Track Record Execution Track Record Completed Completed Completed Completed ✓ 8 projects ✓ 24 projects ✓ 6 projects ✓
Slide 32: Annexure-3: Consolidated Cash Flows – With and Without JV Cashflows
Annexure-3: Consolidated Cash Flows – With and Without JV Cashflows Particulars SPL Consolidated (CFS) SPL Enterprise (100%)1 (Excl DM) Amount in Rs. Crs H1FY25 FY24 H1FY25 FY24 Collections 356 699 557 1232 DM Income 24 123 24 121 Other Inflows 0 1 0 1 Operating Inflow 380 823 581 1354 Construction
Slide 33: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : http://www.sgapl.net/images/sgapl_logo.jpg Shriram Properties Limited Strategic Growth Advisors Pvt. Ltd. CIN – L72200TN2000PLC044560 CIN - U74140MH2010PTC204285 Mr. Shrikanth D S, AGM – Finance Mr. Rahul Agarwal / Ms.