Ganesh Housing Limited · NSE:GANESHHOU
Ganesh Housing — Q1 FY25 Earnings Presentation
37 slides from Ganesh Housing's earnings presentation, Jul 15, 2024
Slide 1: Cover letter to stock exchanges
ISO 9001:2015 I ISO 14001 :2015 ISO 45001 :2018 REF.NO./GHCL/AHMD/2024-2025/363C DATE: JULY 15, 2024 To To BSE Limited National Stock Exchange of India Limited Corporate Relation Department Exchange Plaza, Phiroze Jeejeebhoy Towers Plot No. C/1, G Block Dalal Street, Bandra-Kurla Complex Mumbai - 40
Slide 2: Q1 FY25 Earnings Presentation
GANESH HOUSING Q1 FY25 EARNINGS PRESENTATION
Slide 3: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Ganesh Housing Corporation Limited (the “Company”) and no part of it shall form the basis of or be relied upon in conn
Slide 4: Q1 FY25 Highlights
Q 1 F Y 2 5 H I G H L I G H T S
Slide 5: Q1 FY25 Key Financial and Operational Highlights
Q1 FY25 Key Financial and Operational Highlights Revenue Strong Balance Sheet Q1FY25 Revenue declined 21% QoQ to INR Net Debt-free for more than last 8 quarters and 2,206 Mn vs INR 2,801 Mn in Q4FY24 highly confident in maintaining a strong capital structure in the quarters ahead EBITDA New Planned
Slide 6: Q1 FY25 Financial Performance
Q1 FY25 Financial Performance Particulars (INR Mn) Q1FY25 Q4FY24 Q1FY24 QoQ (%) YoY (%) FY24 FY23 YoY (%) Revenue 2,206 2,801 2,715 (21%) (19%) 8,989 6,208 45% EBITDA 1,556 1,524 2,170 2% (28%) 6,301 2,563 146% EBITDA Margin (%) 70.5% 54.4% 79.9% 16.1% (9.4%) 70.1% 41.3% 28.8% PBT 1,527 1,495 2,150
Slide 7: Key Ratios - Significant Improvement
Key Ratios - Significant Improvement Net Debt (INR Mn) Debt/Equity (x) 4,944 3,393 0.8 1,419 0.7 (2,226) 0.2 (3,216) 0 0 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Return on Equity (%) Return on Capital Employed (%) 29.7 8.9 9.2 39.6 21.4 14.0 (19.2) (21.0) (4.9) (4.8) FY20 FY21 FY22 FY23 FY2
Slide 8: Ahmedabad: A Key Real Estate Hub in Gujarat
Ahmedabad: A Key Real Estate Hub in Gujarat Launches and Sales Trends • Key Market of Gujarat m Highly Affordable 25,000 20,000 - Launches (units) - Sales (units) INR per sq ft 3,100 3,000 Ahmedabad draws 40% of Gujarat's real estate investments, contributes 25% to the state's GDP, and ranks as In 2
Slide 9: What We Have Achieved And What's Next
What We Have Achieved And What’s Next Particulars Completed Projects Ongoing Projects Planned Projects No. of projects 21 3 4 Residential – (8 phases) Residential - 2 Residential - 17 Commercial – (6 phases) Type of projects Commercial - 1 (Million Minds Commercial – 4 Township – (5 phases) Phase 1)
Slide 10: Upcoming Commercial Projects: Robust Annuity Income
Upcoming Commercial Projects: Robust Annuity Income Construction Estimated Lease Estimated Project Expected Project Project Location Area (Mn. Sq. Ft.) (INR Cr/Annum) Cost (INR Cr) Timelines Million Minds (IT SEZ - Commercial) Phase 1 1.3 72 285 H1FY24 - H2FY26 (Ongoing) Phase 2 1.3 72 285 H1FY26 -
Slide 11: Upcoming Residential Projects: Strong Cashflow Visibility
Upcoming Residential Projects: Strong Cashflow Visibility Saleable Area Estimated Revenue Estimated Project Expected Project Project Location (Mn. Sq. Ft.) (INR Cr) Cost (INR Cr) Timelines Millions Minds (IT SEZ - Residential) Phase 1 0.9 541 262 H1FY25 – H1FY28 Phase 2 0.9 535 247 H2FY25 – H2FY28 P
Slide 12: Malabar Retreat: Construction Commenced in Q4FY24
Malabar Retreat: Construction Commenced in Q4FY24 11
Slide 13: Million Minds (IT SEZ): Landmark Project in High Growing Market
Million Minds (IT SEZ): Landmark Project in High Growing Market Prime Location Favorable IT & ITeS policy State of the art, world-class infrastructure Gujarat aspires to be among the top 5 states in facilities on 64 acres of land located at a key India as far as the IT & ITeS industry is concern
Slide 14: Strategic Partnership with Tishman Speyer for Million Minds
Strategic Partnership with Tishman Speyer for Million Minds Strategic alliance for development of GHCL’s Million Minds - 1st Phase of commercial development of 1.3 Mn Sq Ft Synergistic Partnership o Collaboration for SEZ development o Lease Management o Product Innovation Superior Capabilities Inter
Slide 15: Ongoing Project Update – Million Minds (IT SEZ) Phase 1
Ongoing Project Update – Million Minds (IT SEZ) Phase 1 Million Mind Phase 1 –project update of ongoing construction work Status Expected Completion Construction Work in Progress March - 2026 ·--· --- - --·--· Construction Area Leasable Area 1.3 Mn. Sq. Ft. 0.85 Mn. Sq. Ft. Estimated Cost Estimated
Slide 16: Ongoing Project Update – Million Minds Phase 1 (Site Update)
Ongoing Project Update – Million Minds Phase 1 (Site Update)
Slide 17: Finished Project Update - Malabar Exotica
Finished Project Update - Malabar Exotica 100% 100% Completed Booked Possession Started Use of Precast Ready for Delivery Construction Technology
Slide 18: Finished Project Update - Malabar County 3
Finished Project Update - Malabar County 3 100% 100% Completed Booked Delivered Use of Precast Well Ahead of Time Construction Technology
Slide 19: Malabar Exotica: Project Completed 10 Months Ahead of Schedule
Malabar Exotica: Project Completed 10 Months Ahead of Schedule Malabar Exotica: Milestones achieved over the course of project construction and execution June’21 July’21 June’22 Sep’23 Feb’24 Land of 2 acres Project launched Significant progress Structure work Project completion identified and const
Slide 20: Malabar County 3: Project Delivered Within 2.5 Years
Malabar County 3: Project Delivered Within 2.5 Years Malabar County 3: Milestones achieved over the course of project construction and execution Oct’20 Feb’21 Feb’22 Sep’22 Feb’23 Land of 2 acres Project launched Significant progress Structure work Project completion identified and construction on c
Slide 21: Creating Landmarks - Lalita Govind Udyan
Creating Landmarks - Lalita Govind Udyan, Exquisite Sanctuary Spread Across 8 Acres o Inaugurated by Shri Amit Shah, Hon'ble Union Home Minister and Shri Bhupendra Patel, Hon'ble Chief Minister of Gujarat on 30th Sep’23. o The facility is located behind Nirma University, just besides GHCL’s resident
Slide 22: Lalita Govind Udyan: Key Features
Lalita Govind Udyan: Key Features Garden Oasis: Encompassing 32,385 square meters Tranquil Lake: Serene lake brimming with 5 crore litres of crystal- clear water, a calming focal point to reconnect with nature. Miyawaki Plantation: 40,000 trees grown through the Miyawaki Plantation technique, enhanc
Slide 23: Corporate Presentation
C O R P O R A T E P R E S E N T A T I O N
Slide 24: Snapshot: A Leading Real Estate Developer in Gujarat
Snapshot : A Leading Real Estate Developer in Gujarat >-···"····:--····:· c -. ._ -- - - - - - - - - - - - - - - - - - - - - - - - -- - - ~ rJ!Y1 ·~·· \ \ .:•••. Premium Ahmedabad focused developer with strong & differentiated brand that allows leadership position .• ·············, , - - - - - - - -
Slide 25: Vision and Mission
Vision and Mission Content Here I VISION Easy to change colors, 52% MISSION photos and Text. “To be the most trusted, transparent, and “To continuously innovate and use the admired real estate developer” latest technology to provide high-quality spaces to our customers” “To set up and build standard
Slide 26: Our Journey So Far
Our Journey So Far Early Phase & IPO Fund Raising Robust Execution Scaling Up Creating a New High (1991 - 2004) (2004 - 2009) (2009 - 2014) (2014 - 2020) (2021 Onwards ) • Incorporated in June 1991. • Bonus issue 2:1 (2006) • Delivered 17 msf. • Highest ever cash flow of INR • Achieved higher ever 2
Slide 27: Well Established Brand; Strong Transparency
Well Established Brand; Strong Transparency Ganesh Housing Corporation Limited (‘GHCL’) is the flagship company of Ganesh Group; listed since 1993 Leading residential developer across mid and higher income segment; Enviable track record of identifying several high potential locations and convert
Slide 28: Proven Execution Track Record
Proven Execution Track Record Maple Tree: Speed of execution to enhance shareholder value Feb’15 Apr’15 Apr’16 Apr’17 Jan’19 Land of ~ 10 acres Project launched Significant progress Construction work Completion identified and construction made in less than completed in two start one year towers 2 mo
Slide 29: Significant Land Reserves for Future Growth
Significant Land Reserves for Future Growth ~500 acres of land reserves in strategic locations across Ahmedabad - - - I: S.P. iu;.g Roacl . 36-40 msf of development potential f Ability to take advantage of favourable market conditions by launching projects quickly without having to acquire lan
Slide 30: What Sets Us Apart
What Sets Us Apart Future Ready Transparent and Trustworthy Strategic Project Locations Top Quality Infrastructure Professionally Managed and Amenities Strong Brand Equity Focused on Deleveraging & Superior Reputation Innovative Planning Use of Technology – I-homes, Home Timely Delivery Automation e
Slide 31: Strong Leadership Team
Strong Leadership Team Dipak Kumar Patel - Chairman Shekhar Patel – MD & CEO Pankaj Teraiya – President Associated with GHCL since 1991; Veteran with an experience of over (Projects) 01 leading the land related matters and 02 26 years; leading day to day 03 BE Civil with an experience of over 28 gov
Slide 32: Strategic Priorities
Strategic Priorities Being more aggressive towards Building a team for the future, Building both commercial and retail Strengthening segment, widen customer base Position focused approach towards Internal across price points and locations team reorganization and reorientation Organization Retaining
Slide 33: Way Forward: Plan, Prepare and Proceed
Way Forward : Plan, Prepare and Proceed • What we will Achieve Sustainable growth and value creation for all the stakeholders Proceed Proceed with a larger, more efficient, and Prepare collective group. The This is what drives recent consolidation our everyday has ensured creation Plan strategy; pre
Slide 34: Consolidated Income Statement (Historical)
Consolidated Income Statement (Historical) Particulars (INR mn) FY24 FY23 FY22 FY21 FY20 Revenue 8,989 6,208 3,849 1,820 2,773 EBITDA 6,301 2,563 1,355 (377) (504) EBITDA (%) 70.1% 41.3% 35.2% (20.7%) (18.2%) Depreciation 66 27 20 17 21 EBIT 6,235 2,535 1,335 (394) (525) Interest 37 134 363 748 799
Slide 35: Balance Sheet (Historical)
Balance Sheet (Historical) Particulars (INR mn) FY24 FY23 FY22 FY21 FY20 Equity Share Capital 834 834 834 492 492 Reserves & Surplus 14,669 10,262 7,064 4,528 5,750 Minority Interest - 683 870 871 931 Shareholder’s Equity 15,503 11,779 8,768 5,891 7,173 Borrowings 260 36 1,377 3,393 4,944 Other Liab
Slide 36: Cash Flows and Ratios (Historical)
Cash Flows and Ratios (Historical) Particulars (INR mn) FY24 FY23 FY22 FY21 FY20 Operating Cash Flow excl. WC 6,232 2,480 1,341 (658) (663) Working Capital Changes 146 (2,173) (931) 1,980 1,890 Investment Activities (4,886) 2,782 394 434 531 Financing Activities (2,437) 14 (852) (1,726) (2,022) Rati
Slide 37: Thank You
THANK YOU