Prozone Realty Ltd · NSE:PROZONER
Prozone Realty — Prozone Intu Properties — Q4 FY19 Earnings Presentation
40 slides from Prozone Realty's earnings presentation, May 30, 2019
Slide 1: Upward And Forward: Q4 FY19 Results Update Presentation
Upward Q4 FY19 RESULTS UPDATE PRESENTATION And Forward May 2019 PROZONE INTU PROPERTIES LIMITED 0
Slide 2: Table of Contents
TABLE OF CONTENTS 01 Quarterly Business Update 02 Financial Results 03 Asset Snapshot 04 Annexure 1
Slide 3: Quarterly Business Update
prozone QUARTERLY BUSINESS UPDATE intu W@W
Slide 4: Q4 & FY19 Key Highlights: Revenue & Revenue Mix
Q4 & FY 19 – KEY HIGHLIGHTS : REVENUE & REVENUE MIX Q4 FY19 YoY Analysis Revenue (Rs. Mn) Revenue Mix (Rs. Mn) 500.0 400 450.0 350 400.0 300 350.0 168 250 300.0 250.0 200 36% 228 -14% 200.0 150 150.0 326 279 158 100 100.0 -67% 50 50.0 0 51 0.0 Q4 FY18 Q4 FY19 Q4 FY18 Q4 FY19 Sale of Premises Sale of
Slide 5: Q4 FY19 Key Highlights: Strong Revenue with Improved Margin
Q4 FY 19 – KEY HIGHLIGHTS STRONG REVENUE WITH IMPROVED MARGIN LEADING TO HIGHER PROFIT Q4 FY19 YoY Analysis EBIDTA & EBIDTA Margin* Cash PAT (%) 59.8% 47.9% 140.0 300.0 60.0% 280.0 120.0 260.0 50.0% 240.0 40.0% 100.0 220.0 200.0 30.0% 180.0 80.0 160.0 127 20.0% 7% 76% 140.0 60.0 10.0% 120.0 100.0 17
Slide 6: Q4 & FY19 Results Highlights: Revenue and EBITDA
Q4 & FY19 RESULTS HIGHLIGHTS 01 Revenue o Revenue during the quarter at Rs 279 mn was lower by 14% o Annual revenue at Rs 1182 mn was higher by 23% 02 Q4 EBITDA at Rs 191 mn, with an improved margin of 59.8% o Q4 EBITDA was up 7% YoY at 191 mn; FY19 EBITDA up 55% YoY at Rs 761 mn o Rental revenue an
Slide 7: Q4 FY19 Results Highlights: PAT and Operating Parameters
Q4 FY19 RESULTS HIGHLIGHTS 03 PAT has grown to Rs 39.4 mn in Q4 & Rs 65.2mn for FY19 o As Coimbatore Mall sees better traction, improvement in PAT continues o Cash PAT (PAT+ depreciation) reported in Q4 was Rs 127 mn, up 76% YoY and for FY19 it stands at Rs 403 mn, up 108% YoY 04 Strong Operating Pa
Slide 8: Accolades in FY19
ACCOLADES IN FY19 prozone intu@
Slide 9: Accolades in FY19
prozone intu® Prozone intu® Prozone Mall Aurangabad & Coimbatore win the ET Global Award for Retail Excellence
Slide 10: Accolades in FY19
prozone intu DW ACCOLADES IN FY19 Thanks to you , we've bagged this! Prozone Mall, Coimbatore wins the Pride of Coimbatore Awards 2019 for Shopping Centre of The Year & Best Round the Year Marketing Thank you for supporting us! 9
Slide 11: Financial Results: Consolidated Income Statement
FINANCIAL RESULTS: CONSOLIDATED INCOME STATEMENT Rs. Mn. Q4 FY19 Q4 FY18 YoY Q3 FY19 QoQ FY19 FY18 YoY Revenue from Real Estate Projects 50.8 158.0 -67.9% 134.7 -62.3% 387.6 445.1 -12.9% Lease Rental & Related Income 228.1 167.7 36.0% 204.5 11.5% 794.7 516.3 53.9% Total Income from operations 278.8
Slide 12: Prozone Intu on a Strong Footing
PROZONE INTU ON A STRONG FOOTING 01 Leasing at Aurangabad and Coimbatore mall currently stands at 81% and 90% respectively, annuity income to reach optimum levels in FY20. 9 New brands commenced operations at Aurangabad Mall, including The Danish Rack, 02 Crocs, Reliance Digital, Cotton World,
Slide 13: Current Focus Areas
CURRENT FOCUS AREAS 01 Focus is on Letting out the balance space and maintain effective Brand mix by undertaking churn at the mall. AURANGABAD MALL With Brands under discussion including McDonald, Burgerking, TorysRus, Zudio, Imara, Wrogn & Go Colors Mall leasing should gradually move towards 90
Slide 14: Asset Snapshot
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Slide 15: Operating/Development Assets
OPERATING/DEVELOPMENT ASSETS Aurangabad Mall Nagpur Mall Nagpur Residential Coimbatore Mall Aurangabad PTC Coimbatore Residential 14
Slide 16: Retail – Aurangabad Mall Update
RETAIL – AURANGABAD MALL UPDATE Key Operating Parameters Q4 FY19 Gross Leased Area (lakh sq.ft.) 5.69 Current Leasing Status 81% Number of Stores Signed 115 Retailer Sales (Rs. Mn.) 531 Average Monthly Trading Density (Rs/sqft) 415 Footfalls (Mn.) 3.7 Occupancy Footfall & Trading Density 3.7 2.1 0.1
Slide 17: Empire Mall (Aurangabad) – Financial Snapshot
EMPIRE MALL (AURANGABAD) – FINANCIAL SNAPSHOT Operational Details (Rs. Mn.) Q4 FY19 Q3 FY19 Q2 FY19 Q1 FY19 Q4 FY18 Area Leased (lakh sq. ft.) 5.6 5.4 5.7 5.6 5.4 % Leased 81% 83% 83% 80% 78% Sale of Premises 50.8 134.7 202.1 - 60.3 Rental Income 62.5 56.9 52.5 46.9 56.7 Recoveries *(CAM & Other) 48
Slide 18: New Stores Opened at Aurangabad Mall
NEW STORES OPENED at AURANGABAD MALL 17
Slide 19: New Stores Opened at Aurangabad Mall
NEW STORES OPENED at AURANGABAD MALL 18
Slide 20: Brand Partners at Aurangabad Mall
BRAND PARTNERS AT AURANGABAD MALL 19
Slide 21: Events at Aurangabad Mall
EVENTS AT AURANGABAD MALL Film Festival Exhibition Republic Day Women’s Expo RED FM School ke little champs 20
Slide 22: Commercial Update Aurangabad – PTC Phase 1 OC Received
COMMERCIAL UPDATE AURANGABAD – PTC PHASE 1 OC RECEIVED Prozone Trade Center (PTC) Phase 1 Q4 FY19 Total Area Launched (sqft) 190,318 Total Units Launched (No) 117 Total Area Sold (sqft) 144,564 % Total Area Booked 76% Avg. Sale Rate per sqft (Rs) 3,424 • Hand over to the buyers in process Total Sale
Slide 23: Commercial Update Aurangabad – PTC Phase 1
COMMERCIAL UPDATE AURANGABAD – PTC PHASE 1 Lobby View Operational Units 22
Slide 24: Financial Snapshot - Coimbatore Mall
FINANCIAL SNAPSHOT - COIMBATORE MALL Key Operating Parameters Q4 FY19 Gross Leased Area (lakh sq.ft.) 4.5 Current Leasing Status 90% Number of Stores Signed 120 Retailer Sales (Rs. Mn.) 626 Average Monthly Trading Density (Rs/sqft) 672 Footfalls (Mn.) 2.1 Occupancy Footfall & Trading Density 2.1 0.8
Slide 25: Financial Snapshot - Coimbatore Mall
FINANCIAL SNAPSHOT - COIMBATORE MALL Operational Details (Rs. Mn.) Q4 FY19 Q3 FY19 Q2 FY19 Q1 FY19 Q4 FY18 Area Leased (lakh sq. ft.) 4.51 4.47 4.47 4.45 4.42 % Leased 90% 89% 89% 89% 88% Rental Income 82.8 68.4 62.5 57.7 42.8 Recoveries* (CAM & Other) 42.9 38.3 38.2 29.9 28.2 Total Income 125.8 106
Slide 26: New Store Opening at Coimbatore Mall
NEW STORE OPENING AT COIMBATORE MALL 25
Slide 27: Brand Partners at Coimbatore Mall
BRAND PARTNERS AT COIMBATORE MALL 26
Slide 28: Events at Coimbatore Mall
EVENTS AT COIMBATORE MALL Coimbatore Vizha Stunt Show by Mike Jense KTM Orange Day Asian Paints Promotion 27
Slide 29: Project Update - Coimbatore - Residential
PROJECT UPDATE - COIMBATORE - RESIDENTIAL ______________________________ Coimbatore Residential (CGI) • ~1.9 m sqft of residential ______________________________ • 7 towers of 18 floors comprising 1,152 apartments ______________________________ • 3 towers of 18 floors comprising 540 apartments plann
Slide 30: Project Update – Nagpur
PROJECT UPDATE – NAGPUR ______________________________ • 0.5m sqft of retail space Nagpur mall design (CGI) under advanced stage of approvals • 0.39m additional development potential ______________________________ • 4.5m catchment population ______________________________ • 15.7 acres of residential
Slide 31: Nagpur Residential Towers Nearing Completion
NAGPUR RESIDENTIAL TOWERS NEARING COMPLETION Update & Future Plan • Development of 4 towers is in full swing along with external infrastructure work. Construction is ~ 90% complete • Design and planning for residential Phase 2 (approx. 350 apartments) on railway land is finalized 30
Slide 32: Project Update - Indore Residential
PROJECT UPDATE - INDORE RESIDENTIAL Indore township design (CGI) • 1.9m city population • Prominent business and industrial centre in Madhya Pradesh ______________________________ • 43.5acres comprising residential township with 5 acres for commercial to be developed in phases • Phase 1&2 is for plo
Slide 33: Disclaimer
DISCLAIMER Generic Disclaimer The following is a general overview of Prozone INTU Limited (the “Company”) and is qualified in its entirety by reference to the applicable offering memorandum, memorandum and articles of association or other constitutional documents and subscription agreement (together
Slide 34: Thank You
THANK YOU Email: investorservice@prozoneintu.com Nachiket Kale Website: www.prozoneintu.com Dickenson IR Contact: 9920940808 Email: nachiket.kale@dickensonIR.com Website: www.dickensonir.com 33
Slide 35: Annexure
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Slide 36: About Us
ABOUT US • Prozone Intu Properties Ltd. (Prozone Intu) is jointly developed by Promoters and Intu Properties Plc set up to create, develop and manage world-class regional shopping centres and associated mixed-use developments Pan-India. BUSINESS • Prozone Intu strategy is to participate and dominate
Slide 37: Understanding Our Business Model - Business Strategy
UNDERSTANDING OUR BUSINESS MODEL - BUSINESS STRATEGY Business Strategy • Develop Large scale Land Parcels for Mixed Use development. • 75% of the Land to be developed as Residential & Commercial – Build & Sell model • 25% of the Land to be developed as Retail – Build & Lease Model • The Company foll
Slide 38: Understanding Our Business Model - Business Strategy
UNDERSTANDING OUR BUSINESS MODEL - BUSINESS STRATEGY Regional Malls Yield under own Lease Management Model Debt Free Large scale Assets land parcels FUTURE for mixed use Profits & GROWTH developments Shareholder Residential & Cash Value Commercial Sales Developments Model • Locations selected in hig
Slide 39: Our Board of Directors
OUR BOARD OF DIRECTORS John Abel (Director Emeritus) Dushyant Sangar Nikhil Chaturvedi Mr John Abel joined the Liberty Intl Mr. Dushyant Sangar is the Corporate Founder and Managing Director, Group in 1972 and was appointed an Development Director of Intu Nikhil is a visionary and hands-on Propertie
Slide 40: Trading Update
TRADING UPDATE Shareholding in % – March 2019 Others, Promoters 29.0% , 30.9% FII, 7.7% Intu Properties, 32.4% Market Data As on 27.05.19 (BSE) Key Investors Holding (%) Market Capitalisation (Rs Mn) 4,326 ACACIA Partners 1.5% Price (Rs) 28.4 Aditya Chandak & Family 1.8% No. of Shares Outstanding (M
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