42 slides from Mahindra Lifespace Developers's earnings presentation, Jan 27, 2020
Slide 1: Transforming Urban Landscapes - Mahindra Lifespaces
T RANSFO~MING URBAN LANDSCAPES FOR mahlndra LIFESPACES 25 YEARS 271" January, 2020 BSELlmited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East) Mumbai - 400 001 Mumbai - 400 051 Listing: http:lflis
Slide 2: Investor Presentation – Q3 FY20
Artist’s impression of ‘CENTRALIS’ @ Pune Investor Presentation – Q3 FY20 1
Slide 3: Contents
Contents ▪ Key Highlights ▪ Residential Business Update ▪ Integrated Cities & Industrial Clusters Update ▪ Financial Update 2
Slide 4: Key Highlights
Key Highlights The operating highlights from Slide 4 to Slide 24 are for the Company and its subsidiaries / joint ventures / associates engaged in the real estate business (mainly MLDL, MHPL, MBDL, MITL, MRDL, MHDL, MWCDL, MWCJL, MIPCL & MIPPL) Disclaimer: The Company has registered its ongoing proj
Slide 5: Key Highlights – Q3 FY20
Key Highlights – Q3 FY20 HAPPINEST KALYAN LAUNCHED Residential: o Launched 0.9 msft of new projects: Vicino, IN NOV’19 Andheri and Happinest Kalyan 0.84msft launched having 1241 • At Vicino, 33 units (0.03 msft) equivalent to ~50% of launched units sold valuing Rs 52 residential units Cr Advance rec
Slide 6: Financial Highlights
Financial Highlights All figures in Rs. Crs For MLDL Consolidated Q3 FY20 Q2 FY20 Q3 2019 9M FY20 9M FY19 (As per IND AS) Total Income 85 330 137 535 407 EBIDTA** 6 20 25 45 121 PAT 2 16 21 30 88 For MLDL Consolidated 9M FY20 FY19 (As per IND AS) Total Income 535 654 EBIDTA** 45 160 PAT 30 120 Net D
Slide 7: Business Overview
Business Overview Residential Integrated Cities & Industrial Clusters Mid and Premium Affordable Integrated Cities Industrial Clusters Residential Housing Brand: Brand: Brand: Brand: Development Development Gross Area Gross Area Footprint** 22.13 Footprint** 3.11 4437 629 msft msft acres acres Compl
Slide 8: Residential Business Update
Residential Business Update 7
Slide 9: Sales – Annual Trend
Sales – Annual Trend 1,500 1.69 1.80 1,300 1.60 1.38 1.40 1,100 1.18 1.16 1,023 1.20 900 836 0.90 1.00 700 709 0.80 611 500 536 0.60 300 0.40 100 0.20 (100) FY15 FY16 FY17 FY18 FY19 - Sales Value (Rs. Crs) Saleable Area (msft) Launches* msft 2.43 0.99 0.58 1.17 1.55 Compl~ etions* msft 1.28 3.29 0.9
Slide 10: Sales – Quarterly Trend
Sales – Quarterly Trend 0.65 407 0.35 0.26 215 0.22 196 0.19 120 106 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20* Q3 FY20* Sales Value (Rs. Crs) Saleable Area (msft) Launches Palghar 1 (Ph IV) Centralis Vicino I Avadi V Bloomdale IVA & IVC Happinest Kalyan Luminare I #, Antheia IIIB Antheia IIIC Vivante, Bloomb
Slide 11: Sales - City and Price Segment wise
Sales - City and Price Segment wise Q3 FY20 City-wise Sales (Volume) Q3 FY20 City-wise Sales (Value) 18% 12% MMR MMR 21% 27% Pune Pune 17% Nagpur Nagpur 12% NCR NCR 25% Chennai Chennai 15% 17% Bengaluru Bengaluru 15% 10% 10% Q3 FY20 Price Segment-wise Sales (Volume) Q3 FY20 Price Segment-wise Sales
Slide 12: Operating Metrics
Operating Metrics Collections & Construction Spend (Rs. Crs) Completions & Launches (msft) 301 1.0 258 0.9 234 242 195 0.5 0.43 103 83 0.28 62 61 55 0.2 0.1 0.16 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Customer Collections Construction Spend Completions Launch
Slide 13: Project Portfolio
Project Portfolio Saleable Area (msft) # Location Ongoing Forthcoming Land Inventory MMR** 1.52 1.26 0.94 Pune 0.50 0.68 - Nagpur 0.71 - - NCR* 0.41 0.37 - Bengaluru - 0.74 - Chennai 0.59 1.19 9.50 Total 3.72 4.25 10.44 Total Completed Development – 17.27*** msft * NCR includes Delhi, Gurgaon and Fa
Slide 14: Summary of Ongoing and Forthcoming Projects
Summary of Ongoing and Forthcoming Projects All figures in msft Total Launched Completed Ongoing Balance (To Company / Region Project Name Development Development Development Development be launched) SPV A B C D E = (A-C-D) MMR Roots MLDL 0.14 0.14 - 0.14 - Vicino MLDL 0.26 0.07 - 0.07 0.19 Sakinaka
Slide 15: Development mix of Ongoing Projects
Development mix of Ongoing Projects Indicative Area Range Region Project Name Location Segment Development Mix Prices Saleable (sqft) (Rs. Crs) MMR Roots Mumbai Mid-Premium 1 & 2 BHK 740 - 1239 1 - 1.5 Vicino Mumbai Mid-Premium 1, 2 & 3 BHK 754 - 2137 1.5 - 3.9 Serenes Alibaug Luxury 3, 4 BHK Villas
Slide 16: Summary of Ongoing Projects
Summary of Ongoing Projects Launched PTD Area PTD Sales RERA Location Project Name Development1 Sold % Completion** Value Completion (msft) (msft) (Rs. Cr) Date*** MMR Roots 0.14 0.09 50% 114.1 Sep-22 Vicino I 0.07 0.03 63% 52.1 Mar-24 Happinest Kalyan I 0.33 - 0% - Dec-23 Happinest Kalyan II 0.49 -
Slide 17: Forthcoming Projects
Forthcoming Projects Est. Saleable Area Segment Location Name of the Project msft Subsequent Phases of Existing Projects MMR Vicino 0.19 MMR Serenes 0.09 Mid & Premium Residential NCR Luminare # 0.37 Aqualily 0.07 Chennai Lakewoods 0.62 Affordable Housing Chennai Happinest Avadi 0.10 TOTAL - Subsequ
Slide 18: Balance Inventory in Completed Projects
Balance Inventory in Completed Projects Balance units Balance area Location Project Name Company MLDL Holding to sell * to sell (msft) * Happinest Boisar MLDL 100% 116 0.05 MMR Vivante MLDL 100% 1 0.00 Pune Antheia MLDL 100% 14 0.02 Nagpur Bloomdale MBDL 100% 6 0.01 NCR Luminare # MHPL 50% 49 0.15 B
Slide 19: Cash Flow Potential
Cash Flow Potential Value Particulars ( Rs. Cr) Ongoing & Completed Sales completed in ongoing projects 1044 Projects Less : Amount collected from sales 390 Net amount to be collected on completed sales 654 Estimated sales from finished goods & balance inventory in ongoing projects # 1476 Less: Esti
Slide 20: Integrated Cities & Industrial Clusters Update
Integrated Cities & Industrial Clusters Update 19
Slide 21: Mahindra World City, Chennai – Business Update
Mahindra World City, Chennai – Business Update • Total number of customers: 80 (66 Operational) Total Area Procured – 1524 acres | Leasable Area – 1145 acres • 6.3 acres area sold (outside the boundary of MWC, 425 425 422 420 Chennai) 298 272 SEZ DTA Resi & Social Total Leasable Area (in acres) Leas
Slide 22: Mahindra World City, Jaipur – Business Update
Mahindra World City, Jaipur – Business Update Total Area Procured – 2913 acres | Leasable Area – 2011 acres • Total number of customers: 91 (58 Operational) 1026 695 409 363 290 50 SEZ*** DTA Resi & Social ** Total Leasable Area (in acres) Leased Area (in acres) ** Total Leasable Area of Residential
Slide 23: Creating Economic Value
Creating Economic Value Mahindra World City Chennai Mahindra World City Jaipur 12,395 40,000 11,334 39,500 39,500 10,230 8,396 8,300 38,000 38,000 9,359 10,202 11,428 12,683 10,280 1,128 1,245 1,311 1,552 1,281 FY16 FY17 FY18 FY19 9M FY20 FY16 FY17 FY18 FY19 9M FY20 Exports (Rs. Crs.)* Employment (D
Slide 24: Industrial Parks – Origins, Ahmedabad & North Chennai
Industrial Parks – Origins, Ahmedabad & North Chennai 340 289 Area in acres 221 209 30 0 Ahmedabad North Chennai Gross Area Leasable Area* Leased Area Ahmedabad Project Details: (Ongoing) North Chennai Project Details: (Ongoing) – SPV Name: MIPPL – SPV Name: MIPCL – Location: Village Jansali, on NH
Slide 25: Recurring Rental Income
Recurring Rental Income Evolve, MWCJ Recurring Income & Expenses (Rs. Crs) 24 20 21 22 Total area 0.431 msft 12 10 Area leased 0.375 msft 9 8 9 Mahindra Towers, Delhi Total area 0.056 msft Income Expenses Income Expenses Income Expenses Income Expenses Income Expenses Q3 FY19 Q4 FY19 Q1 FY19 Q2 FY20
Slide 26: Financial Update
Financial Update 25
Slide 27: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated Statement of Profit and Loss All figures in Rs. Crs Particulars Q3 FY20 Q2 FY20 Q3 2019 9M FY20 9M 2019 FY19 Income Income from Operations 78.8 324.5 124.4 509.5 358.6 592.8 Other Income 6.2 5.4 13.0 25.6 48.4 61.0 85.0 329.8 137.4 535.1 407.0 653.9 Expenditure
Slide 28: Financial Snapshot – MLDL Consolidated
Financial Snapshot – MLDL Consolidated Balance Sheet All figures in Rs. Crs EQUITY & LIABILITIES Q3 FY20 FY 19 ASSETS Q3 FY20 FY 19 Property, Plant and Equipment 12.5 7.6 Equity Share capital 51.4 51.4 Capital work-in-progress 11.7 9.8 Other Equity 1,874.8 1,878.2 Investment Property 21.1 21.4 Netwo
Slide 29: Key Highlights
Key Highlights Total Income (Rs. Crs) Operating Income (Rs. Crs) 330 324 247 234 137 124 120 106 85 79 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 EBITDA (Rs. Crs) and EBIDTA Margin PAT (Rs. Crs) and PAT Margin 31 15% 18% 16% 11% 16% 13% 21 16 38 13 25 19 20 7% 6%
Slide 30: Key Highlights
Key Highlights Gross Debt Equity Ratio Net Debt Equity Ratio 0.03 0.02 0.13 0.00 0.12 0.12 0.10 0.10 -0.03 -0.03 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Interest Rate 9.08% 9.07% 8.96% 8.85% 8.73% Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Interest rate has been
Slide 31: Residential and IC & IC Business Performance
Residential and IC & IC Business Performance 30
Slide 32: Residential and IC&IC Business Performance
Residential and IC&IC Business Performance All figures in Rs Crs unless specified Residential * IC & IC Particulars Q3 FY20** 9M FY20 Q3 FY20** 9M FY20 Area Sold (msft) / Land Leased (acres) 0.26 0.60 6.26 22.97 Sales / Lease Income 196 330 8 51 Total Income 139 686 29 111 EBIDTA 3 55 12 51 EBIDTA M
Slide 33: Summary of Key Financials by Legal Entities for Q3 FY20
Summary of Key Financials by Legal Entities for Q3 FY20 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total Entity Name Interest Income EBIDTA PAT Debt Net Worth MLDL 100.0% 50.4 (10.7) (12.2) 81.1 1,749.4 MHPL^ 50.0% 237.5 35.2 29.5 122 640.9 MBDL 100.0% 22.8 2.6 1.9 75
Slide 34: Summary of Key Financials by Legal Entities for 9M FY20
Summary of Key Financials by Legal Entities for 9M FY20 Key Legal Entities in Residential Business All figures in Rs. Crs Economic Total Entity Name Interest Income EBIDTA PAT Debt Net Worth MLDL 100.0% 442.4 33.8 27.3 81.1 1,749.4 MHPL^ 50.0% 354.6 49.2 24.9 122 640.9 MBDL 100.0% 58.9 8.3 5.8 75.8
Slide 35: Annexures
Annexures 34
Slide 36: Structure Overview
Structure Overview Note: Overview includes asset owning SPVs only. Shareholding percentage are based on common equity capital in SPVs as on December 2019. Numbers are rounded to the nearest percentage. # MIPPL is a strategic partnership between MLDL and IFC. 35
Slide 37: Management Structure
Management Structure Non-Executive Chairman Arun K Nanda MD & CEO - MLDL CEO - Happinest Sangeeta Prasad Arvind Subramanian Mid-Premium Corporate Integrated Cities & Industrial Clusters Happinest Residential Chief Business Chief Legal Officer and Business Head – South & Business Head – Origins Busin
Slide 38: Completed Projects
Completed Projects Area Area Area Area Location Name of the Project Location Name of the Project (mn sqm) (msft) (mn sqm) (msft) Mumbai Eminente 0.05 0.57 NCR Aura 0.13 1.36 Splendour 0.07 0.78 Luminare I # 0.03 0.37 Vivante 0.01 0.16 Chloris 0.04 0.39 Mahindra Park 0.02 0.19 Central Park 0.11 1.17
Slide 39: Geographic presence of residential business
Geographic presence of residential business Total (msft) Mid-Premium Happinest Completed*: 16.30 0.97 Ongoing**: 2.32 1.40 Forthcoming**: 3.51 0.73 Note: All figures in msft of Saleable / Leasable area Land Inventory**: 10.44 – Total: 32.57 3.11 Completed area includes 1 msft of Commercial developme
Slide 40: Glossary
Glossary Classification of projects is as under: a. Completed: projects where construction has been Actis Actis GP LLP completed and occupancy certificates have been DTA Domestic Tariff Area granted by the relevant authorities HDFC HDFC Capital Affordable Real Estate Fund-1 Capital b. Ongoing: proje
Slide 41: Disclaimer
Disclaimer ▪ This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Develo
Slide 42: Thank You
Thank You Investor Relations Contact Mr. Vimal Agarwal Mr. Sumit Kasat Chief Financial Officer General Manager – Finance & Investor Relations Phone : +91-22-67478660 Phone : +91-22-67478645 Email: agarwal.vimal@mahindra.com Email: kasat.sumit@mahindra.com Mahindra Lifespace Developers Limited CIN L4