Prestige Estates Projects Limited · NSE:PRESTIGE
Prestige Estates Projects — Q1 FY2018 Earnings Presentation
58 slides from Prestige Estates Projects's earnings presentation, June 2017
Slide 1: Investor Presentation Q1FY18
SPREADING OUR WINGS ACROSS INDIA. INVESTOR PRESENTATI ON | Q1FY18 PRESTIGE GROUP | Presentation | June 2017 1
Slide 2: Index
INDEX. 1. ABOUT PRESTIGE 2. OPERATIONAL HIGHLIGHTS 3. FINANCIAL HIGHLIGHTS 4. PROJECT PORTFOLIO & UPDATE 5. RECEIVABLES PROFILE 6. AWARDS & RECOGNITIONS 7. PROJECT STATUS 8. GUIDANCE VS ACHIEVED 2
Slide 3: About Prestige
8.6 mn sft 210 35 GLA of Operational Rental portfolio (PG share) Upcoming Completed projects spanning across 80Mnsf Projects spanning 12.2 mn sft of Developed area Over 48 Mnsf of GLA Under developable area construction & Planning (PG share) Over 30 Years 53 42 mn sft ICRA A+, ICRA A1+ Potential Cre
Slide 4: Business Segments
BUSINESS SEGMENTS Integrated Plotted RESIDENTIAL Apartments Villas Townships Developments Built to suit COMMERCIAL Office Space Campuses SEZs IT Parks RETAIL Malls Logistics Serviced HOSPITALITY Resorts Apartments Hotels Food Courts Sub leasing & Interior Design Facilities & Project & Construction S
Slide 5: Scale of Operation
SCALE OF OPERATION D e e p d e v e l o p m e n t p i p e l i n e t o t h e t u n e o f 1 4 3 m n s f t Areas are in Million Sqft Plotted Residential Commercial Retail Hospitality Total Development PARTICULARS Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Nos. Area Completed Projects 90 36.96 100
Slide 6: Shareholding Pattern
SPREADING OUR WINGS ACROSS INDIA. SHAREHOLDING PATTERN As on 30th June 2017 70% 26% 3% 1% Promoters FIIs Mutual Funds Retail PRESTIGE GROUP | Presentation | June 2017 6
Slide 7: Board of Directors
BOARD OF DIRECTORS Irfan Razack Rezwan Razack Noaman Razack Uzma Irfan Chairman & Managing Joint Managing Director Wholetime Director Director Director Dr. Pangal Ranganath Jagdeesh K. Reddy B.G. Koshy Noor Ahmed Jaffer Independent Independent Independent Nayak Independent Director Director Director
Slide 8: Executive Management
EXECUTIVE MANAGEMENT Faiz Rezwan Zaid Sadiq Anjum Jung Zayd Noaman Executive Director- Executive Director- Executive Director- Interior Executive Director- CMD’s Contracts & Projects Liasion & Hospitality Design OFFICE Omer Bin Jung Nayeem Noor Zackria Hashim V. Gopal Executive Director- Executive D
Slide 9: Executive Management
EXECUTIVE MANAGEMENT Suresh Singaravelu Swaroop Anish Arvind Pai Executive Director- Retail, Executive Director- Business Executive Director- Legal Hospitality & Business Development Expansion Venkat K Narayan Lt. Col. Milan Khurana (Retd.) Executive Director- Executive Director – HR, IT & Finance &
Slide 10: Index
INDEX. 1. ABOUT PRESTIGE 2. OPERATIONAL HIGHLIGHTS 3. FINANCIAL HIGHLIGHTS 4. PROJECT PORTFOLIO & UPDATE 5. RECEIVABLES PROFILE 6. AWARDS & RECOGNITIONS 7. PROJECT STATUS 8. GUIDANCE VS ACHIEVED 10
Slide 11: Operational Highlights
Value in ₹ Million OPERATIONAL HIGHLIGHTS Volume in Mnsqft Particulars Q1FY18 Q1FY17 Q4FY17 FY17 New Sales value 5,952 6,369 6,354 24,585 New Sales Volume 0.92 1.02 0.90 3.82 Avg Realization/Sft 6,505 6,241 7,035 6,441 TOTAL Collections 12,260 11,790 11,544 41,232 Leasing Volume 0.11 0.15 0.77 1.26
Slide 12: Business Performance
BUSINESS PERFORMANCE Q 1 C O M P L E T I O N S Developable Economic Prestige Share Sl.No Project Completed Location Segment Area (Mnsf) Interest (Mnsf) 1 Prestige Misty Waters Bengaluru Residential 1.22 51% 0.62 2 Prestige Trade Tower Bengaluru Commercial 0.62 45% 0.28 3 Prestige Ferns Residency Ben
Slide 13: Sales Summary | Prestige Share
SALES SUMMARY | PRESTIGE SHARE Areas are in Million Sqft Values are in Million ₹ Particulars Q1FY18 Q4FY17 Q1FY17 Area Units Value Area Units Value Area Units Value Residential Mid Income Segment 0.46 298 2,721 0.57 347 3,716 0.62 401 3,735 Premium Segment 0.15 58 1,375 0.05 37 974 0.06 17 481 Total
Slide 14: Index
INDEX. 1. ABOUT PRESTIGE 2. OPERATIONAL HIGHLIGHTS 3. FINANCIAL HIGHLIGHTS 4. PROJECT PORTFOLIO & UPDATE 5. RECEIVABLES PROFILE 6. AWARDS & RECOGNITIONS 7. PROJECT STATUS 8. GUIDANCE VS ACHIEVED 14
Slide 15: Financial Highlights Q1FY18 Standalone
FINANCIAL HIGHLIGHTS | Q1FY18 | STANDALONE Values are in Million ₹ Particulars Q1FY18 Q1FY17 Q4FY17 Turnover (Rs. Mn) 6550 6167 5959 EBIDTA (Rs. Mn) 1248 1902 1254 EBIDTA % 19% 31% 21% PAT (Rs. Mn) 630 1371 551 PAT % 10% 22% 9% PRESTIGE GROUP | Presentation | June 2017 15
Slide 16: Standalone P&L Account
S T A N D A L O N E | P & L A C C O U N T A S O N 3 0 TH J U N E 2 0 1 7 Values are in Million ₹ Quarter ended Year ended Particulars 30-Jun-17 31-Mar-17 30-Jun-16 31-Mar-17 (I) Revenue from Operations 6,269 5,629 5,800 21,803 (II) Other Income 281 330 367 1,206 (III) Total Revenue - (I+II) 6,550 5,
Slide 17: Standalone Key Ratios
STANDALONE| KEY RATIOS Values are in Million ₹ Sl. No. Particulars Quarter ended 30-Jun-17 Ratio/% 31-Mar-17 Ratio/% 30-Jun-16 Ratio/% (Unaudited) (Audited) (Unaudited) 1 Sale of Projects & Property Income 6,269 5,629 5,800 2 Other Income 281 330 367 3 Total Income 6,550 5,959 6,167 4 Cost of projec
Slide 18: Financial Highlights Q1FY18 Consolidated
Values are in Million ₹ FINANCIAL HIGHLIGHTS | Q1FY18 | CONSOLIDATED Particulars Q1FY18 Q1FY17 Q4FY17 Turnover (Rs. Mn) 13018 9714 14633 EBIDTA (Rs. Mn) 2864 1971 2909 EBIDTA % 22.00% 20% 20% PAT (Rs. Mn) 1135 704 1111 PAT % 9% 7% 8% Avg Cost of debt 9.91% 11.22% 10.07% PRESTIGE GROUP | Presentation
Slide 19: Consolidated P&L
C O N S O L I D A T E D | P & L a s o n 3 0 TH J U N E 2 0 1 7 Values are in Million ₹ Quarter ended Year ended Particulars 30-Jun-17 31-Mar-17 30-Jun-16 31-Mar-17 (I) Revenue from Operations 12,796 14,437 9,449 47,745 (II) Other Income 222 196 265 872 (III) Total Revenue - (I+II) 13,018 14,633 9,71
Slide 20: Consolidated Key Ratios
FINANCIALS | CONSOLIDATED | KEY RATIOS Values are in Million ₹ Quarter ended Sl. No. Particulars 30-Jun-17 31-Mar-17 30-Jun-16 Ratio/% Ratio/% Ratio/% (Unaudited) (Audited) (Unaudited) 1 Sale of Projects & Property Income 12,796 14,437 9,449 2 Other Income 222 196 265 3 Total Income 13,018 14,633 9,
Slide 21: Unrecognized Revenue
Values are in Million ₹ UNRECOGNIZED REVENUE Total sales value of unit Cumulative turnover Values are in Million ₹ Balance turnover to be Expected timeline to Sl.No Projects sold as at 30-June- declared upto 30-June- declared on POC reach 25% trigger 2017 2017 Residential Projects 1 Prestige White M
Slide 22: Unrecognized Revenue
Values are in Million ₹ UNRECOGNIZED REVENUE Total sales value of unit Cumulative turnover Balance turnover to be Expected timeline to Sl.No Projects sold as at 30-June- declared upto 30-June- declared on POC reach 25% trigger 2017 2017 34 Prestige Woodland Park 1,680 - 1,680 FY 19 35 Prestige High
Slide 23: Project Debtors Summary
Values are in Million ₹ PROJECT DEBTORS SUMMARY Opening Balance as Closing Balance as at Name of the Project At 1/Apr/2017 New Sales Adjustment Amount Realised 30-Jun-2017 Completed Projects Prestige Oasis 36 32 - 25 62 30 Prestige Shantiniketan 49 48 - 6 92 Prestige Neptunes Court Yard 27 - - 70 77
Slide 24: Project Debtors Summary
Values are in Million ₹ PROJECT DEBTORS SUMMARY Opening Balance as at Closing Balance as at Name of the Project 1/Apr/2017 New Sales Adjustment Amount Realised 30-Jun-2017 Prestige Casabella 112 11 - 27 96 Prestige Mayberry 223 50 40 95 138 Prestige Tranquility 298 78 (37) 290 123 Prestige Bellavist
Slide 25: Project Debtors Summary
Values are in Million ₹ PROJECT DEBTORS SUMMARY Opening Balance as Incremental POC Closing Balance as at Name of the Project at1/Apr/2017 Turnover POC Adjustment Amount Realised 30-Jun-2017 Ongoing Projects Prestige Golfshire 303 217 (46) 234 332 Prestige White Meadows 829 34 (118) 151 829 Prestige
Slide 26: Project Debtors Summary
Values are in Million ₹ PROJECT DEBTORS SUMMARY Opening Balance as Incremental POC Closing Balance as at Name of the Project at1/Apr/2017 Turnover POC Adjustment Amount Realised 30-Jun-2017 Other Ongoing Projects Prestige Spencer Heights - - - 21 - Prestige Kenil Worth - - - 40 - Prestige High Field
Slide 27: Q1FY18 Prestige Group Cash Flow Statement
Q1FY18 PRESTIGE GROUP CASH FLOW STATEMENT Values are in Million ₹ CASHFLOW STATEMENT Rs Mn Collections From Development Business ( Residential & Commercial) 12,200 Rental Collections 1,930 Other collections 240 Total 14,370 Construction & Other Operating Cost 8,820 Land Owner Payments/Refunds 2,160
Slide 28: Debt Profile as on 30th June
Values are in Million ₹ DE B T P R O F I L E A S O N 30th JUNE 2 0 1 7 Consolidated Particulars Standalone % Loan % a. Project Debt - Resi & Comm 13,589.4 48.8% 16,211.9 26.9% b. Capex Loans - - - Office Space 1,975.9 7.1% 3,380.8 5.6% - Retail - 0.0% 942.9 1.6% - Hospitality - 0.0% 7,171.4 11.9% c.
Slide 29: Annualized Projected Exit Rentals for Area Leased
ANNUALIZED PROJECTED EXIT RENTALS FOR AREA LEASED Total Area Leased Leasable Area Economic Prestige Rent P.A Sl. No Project Name Segment (Mnsqft) Interest (Mnsqft) Share (Mnsqft) (Annualised) (Rs Mn) 1 Prestige Estates Projects Limited Commercial 1.90 1.90 1.90 866 2 West Palm Developers Pvt Ltd Com
Slide 30: Annualized Projected Exit Rentals for Area Leased
ANNUALIZED PROJECTED EXIT RENTALS FOR AREA LEASED Total Economic Area to be leased Rent P.A Sl. No Project Name Segment Area available for lease Interest (Mnsqft) during the FY (Mnsqft) (Annualised) (Rs Mn) (Mnsqft) Rental Income by 31st March 2018 1 Prestige Polygon Commercial 0.05 0.05 0.05 45 2 P
Slide 31: Index
INDEX. 1. ABOUT PRESTIGE 2. OPERATIONAL HIGHLIGHTS 3. FINANCIAL HIGHLIGHTS 4. PROJECT PORTFOLIO & UPDATE 5. RECEIVABLES PROFILE 6. AWARDS & RECOGNITIONS 7. PROJECT STATUS 8. GUIDANCE VS ACHIEVED 31
Slide 32: Product Mix | Ongoing Projects
PRODUCT MIX | ONGOING PROJECTS 1% 2% 4% 6% 5% 1% 6% 9% GEOGRAPHY Bengaluru Residential SEGMENT Chennai Commercial Cochin Retail Hyderabad Hospitality Mysuru Mangaluru 81% 85% Developable Developable Segment No. of Projects City No. of Projects Area (Mnsf) Area (Mnsf) Bengaluru 42 45.79 Residential 3
Slide 33: Product Mix | Upcoming Projects
PRODUCT MIX | UPCOMING PROJECTS 1% 3% 4% 1% 9% Bengaluru Chennai SEGMENT 4% GEOGRAPHY 33% Cochin Residential Mangaluru Commercial 13% Hyderabad Retail Ooty 63% 69% Pune Ahmedabad Developable Developable City No. of Projects Segment No. of Projects Area (Mnsf) Area (Mnsf) Bengaluru 21 32.83 Chennai 5
Slide 34: Ongoing Projects | Residential
ONGOING PROJECTS | RESIDENTIAL Developable Area Prestige Share of Sl.No Project City (Mnsf) Economic Interest Prestige Share (Mnsf) No of Units Units 1 Prestige Golfshire Bengaluru 1.75 100.00% 1.75 228 228 2 Prestige White Meadows -T3/T4 Bengaluru 1.04 100.00% 1.04 151 151 3 Kingfisher Towers Benga
Slide 35: Ongoing Projects | Residential
ONGOING PROJECTS | RESIDENTIAL Developable Area Prestige Share of Sl.No Project City (Mnsf) Economic Interest Prestige Share (Mnsf) No of Units Units 23 Prestige Woodland Park Bengaluru 0.38 50.00% 0.19 166 83 24 Prestige Woodside Bengaluru 0.41 60.00% 0.25 132 79 25 Prestige MSR Bengaluru 0.15 65.0
Slide 36: Ongoing Projects | Office and Retail
ONGOING PROJECTS Developable Area Sl. No Project City (Mnsf) Economic Interest Prestige Share (Mnsf) Cessna Business Park B9- 1 B11 Bengaluru 1.98 85.00% 1.68 Office 2 Prestige TMS Square Cochin 0.17 58.00% 0.10 3 Prestige Falcon Towers Bengaluru 0.49 45.00% 0.22 4 Prestige Saleh Ahmed Bengaluru 0.1
Slide 37: Ongoing Projects | Hospitality
ONGOING PROJECTS Developable Area Prestige Share Sl. No Project City (Mnsf) Economic Interest (Mnsf) No. of Keys Hospitality 1 Conrad (Hilton) Bengaluru 0.49 100.00% 0.49 285 2 Sheraton Hotel & Convention Center Bengaluru 0.65 100.00% 0.65 360 3 Marriott Hotel & Convention Centre Bengaluru 0.93 100.
Slide 38: Upcoming Projects | Residential
UPCOMING PROJECTS | RESIDENTIAL Prestige Developable Area Economic Share Sl.No Project City (Mnsf) Interest (Mnsf) 1 Prestige Greenmoor Bengaluru 0.67 25.00% 0.17 2 Prestige Hillcrest Ooty 0.07 50.00% 0.04 3 Prestige Lakeside Habitat Phase III Bengaluru 3.29 69.30% 2.28 4 Prestige Primerose Hills Be
Slide 39: Upcoming Projects | Commercial
UPCOMING PROJECTS | COMMERCIAL Prestige Developable Area Economic Share Sl. No Project City (Mnsf) Interest (Mnsf) 1 Prestige Tech Cloud Bengaluru 4.48 86.00% 3.85 2 Prestige Tech Park IV Bengaluru 1.55 90.00% 1.40 3 Prestige Tech Pacifica Park (ORR) Bengaluru 1.65 62.95% 1.04 Office 4 Mount road Ch
Slide 40: Land Bank
LAND BANK Sl. No Entity Name Location Land Area (Acres) Economic Interest PEPL Share (Acres) 1 Prestige Bidadi Holdings Pvt Ltd Bidadi 143 100% 143 2 Prestige Projects Pvt Ltd Sarjapur/Bengaluru 182 33% 59 3 Prestige Estates Projects Ltd Bengaluru 2 100% 2 4 Village D Nandi Pvt Ltd Bengaluru 23 100%
Slide 41: Index
INDEX. 1. ABOUT PRESTIGE 2. OPERATIONAL HIGHLIGHTS 3. FINANCIAL HIGHLIGHTS 4. PROJECT PORTFOLIO & UPDATE 5. RECEIVABLES PROFILE 6. AWARDS & RECOGNITIONS 7. PROJECT STATUS 8. GUIDANCE VS ACHIEVED 41
Slide 42: Receivables Profile | Ongoing Projects
RECEIVABLES PROFILE | ONGOING PROJECTS As on 30TH JUNE 2017 Areas are in Million Sqft Values are in Million ₹ REVENUE GENERATING PROJECTS Sales Cost Developable Area 64.49 Car Park Area 15.25 153,998 Saleable Area 49.24 Partner Share Prestige Share Already Balance to be Value NA Value 2,37,301 Incur
Slide 43: Stock Breakup
STOCK BREAKUP As on 30TH JUNE 2017 Areas are in Million Sqft Values are in Million ₹ Category Area Value Premium & Luxury Projects 1.94 19,897 Mid Income Projects 5.00 30,922 Commercial Projects 0.38 2,492 Completed Projects 1.92 14,675 Total 9.24 67,986 PRESTIGE GROUP | Presentation | June 2017 43
Slide 44: Receivables Profile | Upcoming Projects
RECEIVABLES PROFILE | UPCOMING PROJECTS As on 30TH JUNE 2017 Areas are in Million Sqft Values are in Million ₹ UPCOMING REVENUE GENERATING PROJECTS Sales* Cost* Developable Area 30.30 Car Park Area 8.43 64,036 Saleable Area 21.88 Prestige Share Partner Share Value 90,034 Surplus^ Value NA Area 7.18
Slide 45: Rental Income: Office Space
RENTAL INCOME As on 30TH JUNE 2017 Areas are in Million Sqft Values are in Million ₹ OFFICE SPACE UNDER UPCOMING TOTAL OPERATING CONSTRUCTION Leasable Area 8.50 Leasable Area 2.54 Leasable Area 11.04 22.08 Prestige Share Prestige Share Prestige Share Leasable Area 7.57 Leasable Area 1.98 Leasable Ar
Slide 46: Rental Income: Retail
RENTAL INCOME As on 30TH JUNE 2017 Areas are in Million Sqft Values are in Million ₹ RETAIL UNDER OPERATING CONSTRUCTION UPCOMING TOTAL Leasable Area 2.86 Leasable Area 1.93 Leasable Area 1.34 6.12 Prestige Share Prestige Share Prestige Share Leasable Area 1.22 Leasable Area 0.90 Leasable Area 0.61
Slide 47: Hospitality Income
HOSPITALITY INCOME As on 30TH JUNE 2017 Values are in Million ₹ HOSPITALITY OPERATING UNDER TOTAL CONSTRUCTION Total Keys 617 Total Keys 942 1,559 Prestige Share Keys Prestige Share Keys 405 942 1,347 Gross Operating Gross Operating Income p.a Income p.a 3,428 1,294 2,134* Prestige Share Prestige Sh
Slide 48: Property Management & Other Services
PROPERTY MANAGEMENT & OTHER SERVICES Values are in Million ₹ PMS Future Total Operating Projects Area Under Mgt Area 143 Mn 51 Mn 92 Mn Total Income Total Income 10,299 3690 6609 EBITDA EBITDA 1576 565 1011 *Estimated PRESTIGE GROUP | Presentation | June 2017 48
Slide 49: Index
INDEX. 1. ABOUT PRESTIGE 2. OPERATIONAL HIGHLIGHTS 3. FINANCIAL HIGHLIGHTS 4. PROJECT PORTFOLIO & UPDATE 5. RECEIVABLES PROFILE 6. AWARDS & RECOGNITIONS 7. PROJECT STATUS 8. GUIDANCE VS ACHIEVED 49
Slide 50: Q1FY18 Awards & Recognition
Q1FY18 AWARDS & RECOGNITION 1. Apartment category -Prestige Bagmane Temple Bells 2. Commercial High-rise Development - Prestige Palldium Bayan 3. Development Marketing - Prestige Song of the South, Prestige Lakeside Habitat 4. Developer Website - Prestige Constructions 5. Office Architecture - ACC H
Slide 51: Index
INDEX. 1. ABOUT PRESTIGE 2. OPERATIONAL HIGHLIGHTS 3. FINANCIAL HIGHLIGHTS 4. PROJECT PORTFOLIO & UPDATE 5. RECEIVABLES PROFILE 6. AWARDS & RECOGNITIONS 7. PROJECT STATUS 8. GUIDANCE VS ACHIEVED 51
Slide 52: Project Snapshots | Residential Projects
PROJECT SNAPSHOTS | RESIDENTIAL PROJECTS PRESTIGE SUNRISE PARK KINGFISHER TOWERS PRESTIGE AUGUSTA GOLF VILLAGE PRESTIGE PINE WOOD PRESTIGE WEST WOODS PRESTIGE ROYALE GARDENS PRESTIGE GROUP | Presentation | June 2017 52
Slide 53: Project Snapshots | Residential Projects
PROJECT SNAPSHOTS | RESIDENTIAL PROJECTS PRESTIGE MISTY WATERS PRESTIGE LAKESIDE HABITAT PRESTIGE FALCON CITY PRESTIGE IVY TERRACES PRESTIGE GULMOHAR PRESTIGE SILVER SPRINGS, PRESTIGE GROUP | Presentation | June 2017 53
Slide 54: Project Snapshots
PROJECT SNAPSHOTS SHERATON HOTEL CESSNA- B9 FORUM SHANTINIKETAN MALL CONRAD HOTEL CESSNA- B11 FORUM MYSORE MALL PRESTIGE GROUP | Presentation | June 2017 54
Slide 55: Index
INDEX. 1. ABOUT PRESTIGE 2. OPERATIONAL HIGHLIGHTS 3. FINANCIAL HIGHLIGHTS 4. PROJECT PORTFOLIO & UPDATE 5. RECEIVABLES PROFILE 6. AWARDS & RECOGNITIONS 7. PROJECT STATUS 8. GUIDANCE VS ACHIEVED 55
Slide 56: Guidance vs Achieved
Value in ₹ Million Volume in Mnsqft GUIDANCE VS ACHIEVED Particulars Target for Full Year Achieved As of Q1FY18 % Achieved New Sales Value 35,000 5,952 17% Turnover 45000-50000 13,018 29% Collections 42,500 12,260 29% Launch Volume 10 0.00 0% Completions 12 6.24 52% Leasing Volume 2.50 0.11 4% Exit
Slide 57: Disclaimer
DISCLAIMER This presentation has been prepared by Prestige Estates Projects Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Prestige Estates Projects Ltd’s future business prospects and business profitability, which ar
Slide 58: Thank You
SPREADING OUR WINGS ACROSS INDIA. THANK YOU Venkata K. Narayana Executive Director, Finance & CFO Phone: +91 -80 – 25001280 E-mail: investors@prestigeconstructions.com Registered Office Prestige Estates Projects Limited The Falcon House, No. 1, Main Guard Cross Road, Bangalore –560 001 Phone: +91 -8
Prestige Estates Projects — Q1 FY2018 Earnings Presentation on 6ix