Keystone Realtors Ltd. · NSE:RUSTOMJEE
Keystone Realtors — Q1 FY24 Earnings Presentation
36 slides from Keystone Realtors's earnings presentation, Aug 7, 2023
Slide 1: Cover letter to stock exchanges
Date: August 7, 2023 The General Manager, The Vice President Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, “Exchange Planza”, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra East, Mumbai – 400 051 Scrip Code: 5436
Slide 2: Quarterly Update
Quarterly Update K e ys t o n e R e a l t o r s L i m i t e d
Slide 3: Table of Contents
Table of Contents 01 Company Overview 02 Performance Highlights Know more about the 03 www.rust o m je e. c o m Management Structure
Slide 4: Company Overview
Company Overview A Snapshot 04 Our Journey over Two Decades 07 Our Ecosystem 08 Technology in Planning, Execution, Sales & Marketing 09 Ongoing Projects 10 Forthcoming Projects 11 Growth Drivers 13
Slide 5: A Snapshot - Leading Developer in MMR
Company Overview A Snapshot Performance Highlights Management Structure Recent Accolades and RUSTOMJEE - Leading Developer in MMR Industry recognition awards 2023 Integrated Township Project of the year- Urbania 27+ 2 ET Now Real Estate Awards Best Redevelopment Project- Seasons Years of Mega ET Now
Slide 6: A Snapshot (Contd.)
Company Overview A Snapshot(Contd.) Performance Highlights Management Structure 20+ Million Capabilities Sq. Ft. delivered and Experience Prominent MMR Real Estate developer with Capability and experience in developing 20+ Million Sq. Ft. delivered and a pipeline standalone buildings, gated communit
Slide 7: A Snapshot (Contd.)
Company Overview A Snapshot(Contd.) Performance Highlights Management Structure End to End Project Sustainable Management Development Capabilities Strong focus on sustainability in all our developments End-to-end project capabilities with in-house expertise across Business Development, Architecture,
Slide 8: Our Journey over Two Decades
Company Overview Our Journey over Two Decades Performance Highlights Management Structure Launched Rustomjee • Acquired first • Launched the • Completed 1st • Completed 5 • Completed 10 • Completed • Sales launch • Sales launch Residency redevelopment township tower phase of Urbania msf+ of msf+ of
Slide 9: Our Ecosystem
Company Overview Our Ecosystem Performance Highlights Management Structure Mt. K Kapital Rustomjee Cambridge Rustomjee Academy CREST – Property Category II - AIF International School for Global Careers Management Services • A real estate focused fund • Leading IGCSE school in Mumbai • Rustomjee Acad
Slide 10: Technology in Planning, Execution, Sales & Marketing
Company Overview Technology in Planning, Execution, Sales & Marketing Performance Highlights Management Structure Project planning Sales & Customer Recent & Execution Experience Developments • Combined implementation • Helps better understand • Automated and transparent of ERP and BIM systems custom
Slide 11: Ongoing Projects
1 Company Overview Virar Ongoing Projects Performance Highlights Management Structure Townships 1. Global City, Virar (W) (Affordable) 2. La Vie, La Familia, Azziano L & D - Urbania, Thane (W)* (Mid and Mass) 8 2 Borivali Thane Residential Projects 14 3. Crown, Prabhadevi* (Super Premium/Premium) 4.
Slide 12: Forthcoming Projects
1 Company Overview 20 V i r a r Forthcoming Projects Performance Highlights Management Structure Townships Commercial 1. Global City, Virar (W) (Affordable) 17. Urbania Commercial 2. Urbania, Thane (W) (Mid and Mass) 18. OB12 + 13, Bandra (E) 24 3 17 Residential Projects Plotted Development 21 Boriv
Slide 13: Strong residential project pipeline in place for future growth
Company Overview Strong residential project pipeline Performance Highlights Management Structure 14 Ongoing 24 Forthcoming in place for future growth ~5.5 msf saleable ~28.3 msf saleable Ongoing Projects Forthcoming Projects 14 24 projects projects Super Premium/Premium 3 Super Premium/Premium 4 Cat
Slide 14: Growth Drivers
Company Overview Growth Drivers Performance Highlights Management Structure Continue to build an asset light business model Leverage our leadership position in the redevelopment space and micro markets that we operate in Grow our presence in the mid/mass and aspirational category Focus on growth are
Slide 15: Performance Highlights
Performance Highlights Performance Snapshot (Q1-FY24) 15 Operational Highlights 16 Completed projects (YTD Q1-FY24) 17 Ongoing projects (YTD Q1-FY24) 18 Forthcoming Projects (YTD Q1-FY24) 19 Category wise Performance (Q1-FY24) 20 Historical Operational Performance (Last 5Q) 22 New Launches (Q1-FY24)
Slide 16: Performance Snapshot (Q1 FY-24)
Company Overview Performance Highlights Performance Management Structure Snapshot (Q1 FY-24) Area Sold Pre-Sales Value Collections 0.29 Mn Sq. Ft. ₹ 5.0 Bn ₹ 4.9 Bn Projects Launched – 2 Projects Added – 3 OCF ₹ 8.9 Bn - GDV ₹ 25 Bn - GDV ₹ 1.1 Bn Revenue EBITDA PAT ₹ 2.7Bn ₹ 0.7 Bn ₹ 0.5 Bn 17% PAT
Slide 17: Operational Highlights
Operational Highlights PARTICULARS Q1 FY24 Q4 FY23 QoQ Growth (%) Q1 FY23 QoQ Growth (%) Area Sold (Mn Sq. Ft.) 0.29 0.28 3% 0.20 46% Pre-Sales Value (₹ Bn) 5.02 4.73 6% 2.44 106% Collection (₹ Bn) 4.95 6.99 -29% 4.04 23% Pre-Sales Collections New Launches Business Development • The company has achi
Slide 18: Completed Projects as on 30th June 2023
Company Overview Performance Highlights Completed Projects as on 30th June 2023 Management Structure SR. NAME OF PROJECT TOTAL UNSOLD SOLD EST UNSOLD COST NO. SALEABLE AREA SALEABLE AREA RECEIVABLE INVENTORY TO COMPLETE * (MN SQ FT) (MN SQ FT) (INR BN) (INR BN) (INR BN) 01 Seasons Wing D 0.34 0.14 0
Slide 19: Ongoing Projects as on 30th June 2023
Company Overview Performance Highlights Ongoing Projects as on 30th June 2023 Management Structure CATEGORY NO. OF TOTAL UNSOLD SOLD EST UNSOLD COST PROJECTS SALEABLE AREA SALEABLE AREA RECEIVABLE INVENTORY TO COMPLETE * (MN SQ FT) (MN SQ FT) (INR BN) (INR BN) (INR BN) Residential (A) 12 5.22 1.54 2
Slide 20: Forthcoming Projects as on 30th June 2023
Company Overview Performance Highlights Forthcoming Projects as on 30th June 2023 Management Structure CATEGORY NO. OF SALEABLE AREA EST. GDV COST TO PROJECTS (MN SQ FT) (₹ BN) COMPLETE* (₹ BN) Residential (A) 20 23.33 305.32 183.30 Super Premium/Premium 4 0.66 34.90 18.47 Aspirational 5 1.53 46.08
Slide 21: Category-wise Performance Q1 FY-24
Company Overview Performance Highlights Category-wise Performance Q1 FY-24 Management Structure CATEGORY AREA SOLD (MN SQ.FT.) AVERAGE REALISATION (₹) Q1 FY-24 Q1 FY-23 % CHANGE Q1 FY-24 Q1 FY-23 % CHANGE Super premium / Premium 0.03 0.01 195% 39,905 33,019 21% Aspirational 0.02 0.01 159% 32,647 28,
Slide 22: Category-wise Performance Q1 FY-24 (Contd.)
Company Overview Performance Highlights Category-wise Performance Q1 FY-24 (Contd.) Management Structure CATEGORY PRE-SALES (₹ BN) COLLECTIONS (₹ BN) Q1 FY-24 Q1 FY-23 % CHANGE Q1 FY-24 Q1 FY-23 % CHANGE Super premium / Premium 1.14 0.32 256% 0.90 1.76 (49%) Aspirational 0.80 0.27 197% 0.95 0.67 42%
Slide 23: Historical Operational Performance (Last 5Q)
Company Overview Performance Highlights Historical Operational Performance (Last 5Q) Management Structure Pre-Sales Sales Pre-Sales Collections (NO. OF UNITS) (MN SQ.FT.) (₹ BN) (₹ BN) 272 269 260 263 6.99 0.29 0.29 5.02 0.28 4.73 0.27 4.55 225 4.33 4.95 0.20 4.03 4.16 2.44 3.44 Q1FY23 Q2FY23 Q3FY23
Slide 24: New Launches in YTD Q1FY24
Company Overview Performance Highlights New Launches in YTD Q1FY24 Management Structure PROJECT NAME LAUNCH LOCATION CATEGORY NATURE OF RERA SALEABLE EST GDV QUARTER DEVELOPMENT COMPLETION AREA (₹ BN) DATES (MN SQ. FT) Rustomjee Cleon Q1 FY 24 Bandra E M id & M ass R edevelop m ent Jun-27 0.06 1.31
Slide 25: New Project Addition in YTD Q1FY24
Company Overview Performance Highlights New Project Addition in YTD Q1FY24 Management Structure PROJECT NAME QUARTER OF LOCATION CATEGORY NATURE OF SALEABLE EST GDV CURRENT STATUS ACQUISITION DEVELOPMENT (MN SQ. FT) (₹ BN) Dhuruvadi Q1 FY 24 Prabhadevi Aspirational Re-development Term Sheet executed
Slide 26: Cash Flows
Company Overview Performance Highlights Cash Flows Management Structure PARTICULARS (₹ MN) Q1 FY-24 Q4 FY-23 Q1 FY-23 FY 22-23 Operating Activities Net Collections 2,241 3,424 2,833 10,839 Receipts from DM / JV Projects 321 52 - 152 Construction Cost (769) (699) (880) (3,152) Land and Approval Payme
Slide 27: Financial Summary – Profit & Loss
Company Overview Performance Highlights Financial Summary – Profit & Loss Management Structure CONSOLIDATED RESULTS (₹ MN) Q1 FY-24 Q4 FY-23 Q1 FY-23 FY 22-23 Revenue from Ops 2,720 3,444 1,686 6,857 Other Income 109 133 74 392 Total Income 2,828 3,576 1,760 7,249 EBITDA* 742 1,102 120 1,431 PBT 663
Slide 28: Financial Summary – Debt Movement
Company Overview Performance Highlights Financial Summary – Debt Movement Management Structure DEBT MOVEMENT (₹ MN) Q1 FY-24 Q4 FY-23 Gross Debt 4,281 4,515 Less: Cash and Cash Equivalents 4,790 4,326 Net Debt (509) 189 Equity 17,244 16,694 Gross Debt to Equity Ratio 0.25 0.27 Net Debt to Equity Rat
Slide 29: ESG (Environmental, Social and Governance)
Company Overview Performance Highlights ESG (Environmental, Social and Governance) Management Structure Environmental Social Governance Initiatives Initiatives • E-waste and Hazardous waste • Awarded A+ Grade by the Policies Implemented: management have been complied Government of Maharashtra and ti
Slide 30: Management Structure
Management Structure Experienced Promoters and Directors 30 Supported by a Professional Management Team 31 Shareholding Pattern as of at the End of Quarter 32 Completed Projects 33
Slide 31: Experienced Promoters and Directors
Company Overview Performance Highlights Management Structure Experienced Promoters and Directors Boman Irani Chandresh Mehta Percy Chowdhry CMD EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR • 27+ years of Real Estate experience • 27+ years of Real Estate Experience • 24+ years of Real Estate Experience • Pr
Slide 32: Supported by a Professional Management Team
Company Overview Performance Highlights Management Structure Supported by a Professional Management Team Sajal Gupta Bimal Nanda Venkatraman B. (GROUP CFO & HEAD (GROUP CS AND (CHIEF OPERATING Rakesh Setia CORPORATE STRATEGY) C O MP L I A N C E O F F I C E R ) OFFICER) ( C H I E F SA LE S O F F I C
Slide 33: Shareholding Pattern as at 30th June 2023
Company Overview Performance Highlights Management Structure Shareholding Pattern as at 30th June‘23 FPIs Abu Dhabi Investment Authority Morgan Stanley India Societe Generale Mutual Funds Tata Mutual Fund Aditya Birla Sun Life Quant Mutual Fund AIF HDFC CAPITAL 360 One Special Promoter 86.70% Bodies
Slide 34: Completed Projects
2 Company Overview 1 Performance Highlights Management Structure Virar Completed Projects 12 Townships Residential Projects 28 1. Global City, Virar (W) Phase 1 (Contd.) 6 2. Global City, Virar (W) Phase 2 19. 9 JVPD, Juhu 3 Borivali 3. Urbania, Thane (W) 20. Central Park, Andheri (E) 26 7 Thane 21.
Slide 35: Disclaimer
Disclaimer Some of the statements in this presentation may be ‘forward- looking statements’ within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company’s operations include chan
Slide 36: Thank You
Thank You KEYSTONE REALTORS LIMITED 702, Natraj, M.V. Road Junction, Western Express Highway, Andheri East, Mumbai – 400 069 Website: www.rustomjee.com INVESTOR RELATIONS CONTACT Email: investor-relations@rustomjee.com Tel: 022 – 667 66 888