Godrej Properties Limited · NSE:GODREJPROP
Godrej Properties — Q2 FY2021 Earnings Presentation
38 slides from Godrej Properties's earnings presentation, Nov 3, 2020
Slide 1: Cover letter to stock exchanges
Godrej Properties Limited Regd. Office: Godrej One, 5th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai – 400 079. India Tel.: + 91-22-6169 8500 Fax: + 91-22-6169 8888 Website: www.godrejproperties.com CIN: L74120MH1985PLC035308 November 03, 2020 BSE Limited Phiroze Jeejeebhoy To
Slide 2: Results Presentation Second Quarter, Financial Year 2021
R E S U LT S P R E S E N T A T I O N SECOND QUARTER, FINANCIAL YEAR 2021 1 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 3: Disclaimer
DISCLAIMER Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operation
Slide 4: Agenda
AGENDA Overview 01 Q2 FY21 Operational Highlights 02 Q2 FY21 Financial Highlights 03 Annexure 04 3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY21
Slide 5: Godrej Group
GODREJ GROUP Established in 1897 Value Creation Track Record $5 billion in annual revenue 19 year CAGR in ` 1 invested in Particulars stock price June 2001 is now worth 1.1 billion people globally use a Godrej product1 BSE Sensex 13% 11 Godrej ranks amongst the most trusted Indian brands2 Go
Slide 6: Godrej Properties
GODREJ PROPERTIES Established in 1990 Indias largest publicly listed developer by booking value over the past five years Chandigarh 0.7, 1 NCR Successfully delivered ~22 million sq. ft. of real estate in the 29.4, 15 past five years ~194 million sq. ft. of developable area across India Ahme
Slide 7: Strengths
STRENGTHS 1.1 billion people globally use a Godrej product1 Godrej Brand Godrej Properties ranked as the most trusted real estate brand in the 2019 Brand Trust Report GPL brings the Godrej brands reputation for trust, quality and corporate governance to the real estate sector Effective Comp
Slide 8: Stock Performance
STOCK PERFORMANCE An investment into GPL’s IPO would be worth ~ 9x an identical investment into the BSE Realty Index Value Creation Track Record 10 year CAGR in ` 1 invested in Particulars stock price January 2010 is now worth BSE Sensex 7.5% 2.17 Godrej Properties 13.1% 3.74 BSE Realty Index -7.5%
Slide 9: Agenda
AGENDA Overview 01 Q2 FY21 Operational Highlights 02 Q2 FY21 Financial Highlights 03 Annexure 04 8 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY21
Slide 10: Q2 FY21 Operational Highlights
Q2 FY21 OPERATIONAL HIGHLIGHTS Total booking value stood at INR 1,074 crore and INR 2,605 crore for Q2 FY21 and H1 FY21, Sales Highlights respectively Added a new residential project in MMR with a saleable area of 1.5 million sq. ft. in Q2 FY21 Business Development Post Q2 FY21, added a new re
Slide 11: Sales Highlights
SALES HIGHLIGHTS Particulars Q2 FY21 Q2 FY20 Growth Q1 FY21 Growth H1 FY21 H1 FY20 Growth Area Sold* (sq. ft.) 1,728,995 2,256,659 -23% 2,512,288 -31% 4,241,283 3,605,930 18% Booking Value** (INR Cr) 1,074 1,446 -26% 1,531 -30% 2,605 2,343 11% *Includes : **Includes - 1,270 sq. ft. of JVP area in Q2
Slide 12: Project Booking
PROJECT BOOKING Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Residential Projects Q2 FY21 H1 FY21 Q2 FY21 H1 FY21 Godrej Royale Woods, Bangalore 279,512 536,566 129 237 Godrej RKS, Chembur 32,804 30,326 85 78 Godrej Exquisite, Thane 61,614 90,690 67 99 Godrej 24/Elements, Pune 83,284 97
Slide 13: Project Booking
PROJECT BOOKING Particulars Booking Area (sq. ft.) Booking Value (INR Cr) Commercial Projects Q2 FY21 H1 FY21 Q2 FY21 H1 FY21 Godrej Eternia, Chandigarh 6,319 6,319 5 5 Total 6,319 6,319 5 5 Grand Total 1,728,995 4,241,283 1,074 2,605 12 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY21
Slide 14: Quarterly Sales Trend
QUARTERLY SALES TREND 3,000 Quarterly Sales Value 2,500 2,383 2,161 2,000 (INR cr) 1,528 1,531 1,446 1,500 1,189 1,074 1,000 897 500 0 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Quarterly Sales Volume 4.0 3.7 3.6 3.5 3.0 2.8 (Million sq. ft.) 2.5 2.5 2.3 2.0 1.7 1.6 1.5 1.3 1.0
Slide 15: Business Development
BUSINESS DEVELOPMENT Added a new project with saleable area of ~1.5 million sq. ft. in Q2 FY21 Kalyan, MMR • The project is an outright purchase of land in Kalyan, further strengthening GPL’s presence in MMR. The site is strategically located with multiple schools, hospitals, retail and residential
Slide 16: Launch Tracker FY21
LAUNCH TRACKER FY21 Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations New Project Launches Planned in FY21 New Phase Launches Planned in FY21 Project City Launch Project City Launch Status Area* Status Area* Vashi Mumbai 0.55
Slide 17: Construction Highlights
CONSTRUCTION HIGHLIGHTS Construction activity has resumed across our sites The workforce strength has increased substantially since the last quarter and stood at 130% of our pre-COVID strength as of September end Workforce Strength is much higher than pre-covid levels 180% 157% ( % of Total Pre-
Slide 18: Construction Highlights (Contd.)
CONSTRUCTION HIGHLIGHTS (Contd.) Delivered ~2.9 million sq. ft. across 2 cities in Q2 FY21 Godrej Reserve*, Bangalore Godrej Icon, NCR Godrej Avenues, Bangalore 1.90 million sq.ft 0.61 million sq.ft 0.41 million sq.ft *Godrej Reserve is a plotted development project 17 | GODREJ PROPERTIES I RESULTS
Slide 19: Awards and Recognitions
AWARDS AND RECOGNITIONS GPL received 8 awards in Q2 FY21 ILLUSTRATIVE LIST OF AWARDS GODREJ PROPERTIES National Brand Leader of India Ranked Number one by Track2Realty BrandXReport 2019-2020 Real Estate Employer in India Ranked Number one by Track2Realty BrandXReport 2019-2020 PROJECT & INDIVIDU
Slide 20: CSR Initiatives - Good & Green
CSR INITIATIVES - GOOD & GREEN Successfully registered 2,000+ workers under Building and Other Construction Welfare Board and insurance Success on schemes under central government BOCW worker registrations Workers will receive INR 2,000+ relief and can avail 17 different schemes ranging from mat
Slide 21: Agenda
AGENDA Overview 01 Q2 FY21 Operational Highlights 02 Q2 FY21 Financial Highlights 03 Annexure 04 20 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY21
Slide 22: Consolidated Financial Statements – P&L
CONSOLIDATED FINANCIAL STATEMENTS – P & L (INR Cr) Particulars Q2 FY21 Q2 FY20 % Change Q1 FY21 % Change H1 FY21 H1 FY20 % Change Total Income 238 370 -36% 165 44% 403 1,078 -63% Adjusted EBITDA* 82 191 -57% 44 87% 126 406 -69% EBITDA** 77 135 -43% 40 94% 116 330 -65% Profit before tax 23 73 -69% -1
Slide 23: Consolidated Cashflow
CONSOLIDATED CASHFLOW (INR Cr) Notes Particulars Q2 FY21 H1 FY21 Operating cashflow Total operating cash inflow 684 1,104 A Operating cash outflow Construction and related outflow (351) (681) Other project related outflow (319) (761) Total operating cash outflow (669) (1,442) Net operating cashflow
Slide 24: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 30.09.2020 As on 31.03.2020 A Assets Unaudited Audited 1 Non Current assets a Property, plant & equipment 76.25 77.89 b Capital Work-in-Progress 179.74 160.86 c Right-of-Use Asset 32.03 3.76 d Investment Property 9.60 9.79 e Go
Slide 25: Consolidated Financial Statements - BS
CONSOLIDATED FINANCIAL STATEMENTS - BS (INR Cr) Sr. No Particulars As on 30.09.2020 As on 31.03.2020 B Equity and Liabilities Unaudited Audited 1 Equity a Equity share capital 126.04 126.01 b Other equity 4,670.09 4,681.78 c Non-controlling interest - - Total Equity 4,796.13 4,807.79 2 Liabilities 2
Slide 26: Financial Analysis
FINANCIAL ANALYSIS Profitability Indicators Particulars Q2 FY2021 Q2 FY2020 Q1 FY2021 H1 FY2021 H1 FY2020 Adjusted EBITDA / Total Income* 34.6% 51.6% 26.6% 31.3% 37.6% EBITDA / Total Income** 32.3% 36.4% 24.0% 28.9% 30.6% PBT Margin % 9.5% 19.7% -8.9% 2.0% 19.8% Net Profit Margin %# 3.0% 8.5% -11.6%
Slide 27: Agenda
AGENDA Overview 01 Q2 FY21 Operational Highlights 02 Q2 FY21 Financial Highlights 03 Annexure 04 26 | GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY21
Slide 28: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based - 73.6% 1 Godrej Garden City* Ahmedabad Residential 14.80 Own Phase V: Revenue Based - 67.6% Ongoing Phase VI: onwards - 17% of Reve
Slide 29: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 19 Sarjapur 4 Bangalore Residential 1.60 Own 100% owned project Forthcoming 20 Godrej Palm Grove Chennai Residential 1.93 Own Area Based - 70% (for 12.57 acre
Slide 30: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 36 Godrej Park Mumbai Residential 0.77 Own Revenue Based – 56.5% Forthcoming 37 Godrej Vihaa Mumbai Res idential 1.30 DM DM Fee – 10% of Revenue Ongoing Profi
Slide 31: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 54 Godrej Nirvaan Mumbai Residential 2.25 JV Profit Share - 50% Ongoing 55 Taloja Mumbai Residential 7.50 JV Profit Share - 55% Forthcoming 56 Ambernath Mumba
Slide 32: A. Residential Projects
A. RESIDENTIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) 71 Godrej Infinity Pune Residential 2.80 JV Profit Sharing - 35% Ongoing Revenue Based 96% (GPL owns 49% equity in project 72 Godrej 24 Pune Residential 0.52
Slide 33: B. Commercial Projects
B. COMMERCIAL PROJECTS Est. Saleable Asset Ind AS Sr. No. Project Name Location Area Business Model Status Class Classification (mn sq. ft.) Phase I to IV: Area Based 73.6% 1 Godrej Garden City* Ahmedabad Residential 2.40 Own Phase V : Revenue Based - 67.6% Ongoing Phase VI : onwards - 17% of Revenu
Slide 34: Thank You
THANK YOU For further information, please contact: Rajendra Khetawat Godrej Properties Limited Tel: +91 22 6169 8500 Fax: +91 22 6169 8888 Email: rajendra@godrejproperties.com 38 | GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY19
Slide 35: Press Release: Consolidated Financials for Q2 FY21 and H1 FY21 Results
GODREJ PROPERTIES LIMITED CIN : L74120MH1985PLC035308 Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express Highway, Mumbai – 400079 PRESS RELEASE Consolidated Financials for Q2 FY21 and H1 FY21 Results Construction worker strength doubled during the
Slide 36: Press Release: Business Development
Business Development Added a new project in Mumbai with saleable area of ~1.5 million sq. ft. in Q2 FY21 and a new project in Bangalore with a saleable area of ~1.6 million sq. ft. in October 2020 Kalyan, MMR The project is an outright purchase of land in Kalyan, further strengthening GPL’s presen
Slide 37: Press Release: Financial Overview (Consolidated)
Commenting on the performance of Q2 FY2021, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said: ““The real estate sector continues to be impacted by the pandemic but we believe this provides Godrej Properties with a tremendous opportunity to drive market share growth in residen
Slide 38: About Godrej Properties Limited
About Godrej Properties Limited: Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 123–year legacy of excellence and trust with a commitment to cutting edge design, technology,