Happinest Avadi Phase I @ Chennai Investor Presentation – Q4 FY16 1
Contents Q4 FY16 Highlights Residential Business Update Integrated Cities Update Financial Update 2
Q4 FY16 Highlights 3
Key Highlights Launched new residential project, Vivante in Andheri East, Mumbai Launches Achieved revenue recognition at Nova Phase IIA, Luminare Phase I, Revenue Windchimes Phase I – Tower II, Bloomdale Phase IIIA, Happinest Boisar Recognition Phase IIC and IID Achieved project completion at Bloomdale Phase IA, Bloomdale Phase Project IB, Ashvita Phase III, Aqualily IIC -1 and Happinest Avadi Phase I Completion Area completed during the quarter – 1.21 mn sft Luminare Vivante Windchimes Nova 4
Key Highlights Integrated Signed 1 new customer at MWC Jaipur Business 2 customers acquired additional space for expansion at MWC Jaipur Cities Mahindra World City Chennai declared “Best Township” in more than 200 acres category at NDTV Parryware Property Awards 2015 – 16 Luminare by Mahindra Lifespaces was conferred with the CIDC Awards & Vishwakarma Award for Construction, Health, Safety and Environment Recognition Iris Court by Mahindra Lifespaces received the award for Best Residential Project in Chennai under the Affordable Housing Segment at the 10th CNBC Awaaz Real Estate Awards 2015 -16 MWCJ MWCC MWCC Iris Court 5
Key Highlights EBITDA (Rs. Mn) Total Income (Rs. Mn) 3000 2820 2685 800 728 2500 2307 700 594 600 545 1876 2000 1771 481 500 423 1500 400 300 1000 200 500 100 0 0 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 PAT Pre-Minority Interest (Rs. Mn) Operating Income (Rs. Mn) 600 2800 2663 2591 477 11% 8% 2203 2100 8% 330 1750 93 1645 300 254 28% 9% 147 1400 49% 700 111% 105% 51% 143% 278% 0 11% 5% 72% 91% 92% 43% 178% 89% 92% 0 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 -300 Residential (Premium+Affordable) Integrated Business Cities Residential (Premium+Affordable) Integrated Business Cities 6 All data on Consolidated Basis
Key Highlights EPS Debt Equity Ratio Gross D/E Net D/E 1.15 1.2 14.00 11.86 1.02 12.00 0.94 1 0.89 0.84 10.00 7.45 0.92 0.8 0.89 8.00 0.83 0.78 5.27 0.75 6.00 0.6 3.68 4.00 1.89 0.4 2.00 0.2 - Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Interest Rate Shareholding Pattern as on 31st March 2016 12% 11.45% 11.38% 11% Promoters (51%) 11% 10.98% 11% FPI (16%) 11% 10.71% DII (1%) 11% 10.49% 10% Others including FII (32%) 10% 10% Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 All data on Consolidated Basis 7 Interest rate has been calculated on loans taken from third parties only
Residential Business Update 8
Project Portfolio All area in millions sft 1 sqm = 10.7639 sq ft Location Ongoing Forthcoming Land bank Mumbai** 0.58 1.82 0.94 Pune 0.63 0.87 Hyderabad 0.42 Chennai 0.53 1.50 9.50 Nagpur 0.56 0.56 NCR* 0.78 0.33 Nasik 0.60 Bengaluru 0.44 0.43 Total 3.94 5.51 11.04 Total Completed Development – 12.94*** mn sft * NCR includes Delhi, Gurgaon and Faridabad ** Mumbai includes Mumbai, Boisar, Thane and Alibaug *** Does not include select projects that were completed by GESCO 9
Performance Highlights – Residential Sales 0.44 Saleable Area in mn sft 520 0 0.04 470 0 420 0.33 , 0 0.34 , 0.03 0.03 0.26 , 370 0 0.23 , 0.02 0.02 320 0 294 250 270 0 217 220 185 0 170 134 0 120 0 70 453 242 271 205 305 20 - Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Units Sold Sales Value (Rs Crs) Saleable Area (mn sqm) Launches Nova II Windchimes – I Bloomdale III-A Vivante - I Bloomdale IIB – 2 Happinest Avadi Ph IIA Luminare II Happinest Boisar – IIC and IID 10 Note: Q4 FY16 sales include the sale of shops and school at Aura worth Rs. 7 cr
Performance Highlights Q4 FY16 City Wise Sales (Volume) Q4 FY16 City-wise Sales (Value) 8% 9% 12% 13% Pune Pune 5% Nagpur Nagpur 10% 10% NCR NCR 3% 29% 4% Hyderabad Hyderabad Chennai Chennai 9% 4% MMR MMR 51% Bengaluru Bengaluru 32% Construction Spend (Rs. Cr) Customer Collections (Rs. Cr) 163 154 210 142 138 111 142 142 140 119 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 11
Performance Highlights – FY16 Sales (Rs. Cr) Average Price Realization (Rs. psft) 830 7163 17% 39% 708 5141 FY15 FY16 FY15 FY16 Area Completed (mn sft) No. of Units Handed Over 823 3.29 170% 52% 541 1.22 FY15 FY16 FY15 FY16 12
Performance Highlights – FY16 Over 3 mn sft completed during the year Aura IV – Handovers in progress Nova Phase I, MWCC Happinest Avadi Phase I, Chennai Aura V-Handovers to commence in FY17 Handovers to commence in FY17 Handovers to commence in FY17 Bloomdale Phase IA, IB & IC Ashvita Phase IA, IB & IC Handovers in progress Handovers to commence in FY17 13
Ongoing Projects Revenue MLDL’s Development Potential Sales Value Compa MLDL % sold % Recognised Location Project Name share of till date completion 2 (units) 1 ny Holding till date mn sqm mn sq ft units units (Rs Crs) (Rs Crs) 3 The Serenes, Ph I MLDL 100% 0.01 0.06 20 20 45% 47% 24 11 Happinest Boisar Ph I MLDL 100% 0.02 0.19 359 359 95% 77% 55 42 11 4 Happinest Boisar Ph IIC MLDL 100% 0.01 0.10 159 159 64% 52% 22 MMR 7 4 Happinest Boisar Ph IID MLDL 100% 0.00 0.04 79 79 94% 56% 13 Eminente Commercial MLDL 100% 0.00 0.02 6 6 33% 56% 2 - N/A 5 Vivante Phase I MLDL 100% 0.01 0.16 104 104 57% 137 - Antheia Ph II A MLDL 100% 0.01 0.16 132 132 80% 64% 77 49 Antheia Ph II B MLDL 100% 0.01 0.12 88 88 69% 58% 50 29 Pune Antheia Ph II C MLDL 100% 0.01 0.14 88 88 13% 60% 12 - Antheia Ph II D MLDL 100% 0.01 0.13 178 178 35% 56% 29 16 L'Artista # MLDL 100% 0.01 0.09 21 16 6% 87% 4 - Bloomdale IIA MBDL 70% 0.01 0.11 84 84 100% 70% 38 26 Nagpur Bloomdale IIB MBDL 70% 0.01 0.15 140 140 80% 55% 45 25 Bloomdale IIB – 2 MBDL 70% 0.01 0.09 70 70 66% 60% 24 14 Bloomdale IIC MBDL 70% 0.01 0.07 28 28 100% 61% 24 15 6 4 Bloomdale IIIA MBDL 70% 0.01 0.12 98 98 27% 46% 13 Bloomdale IIIC-1 MBDL 70% 0.00 0.03 12 12 67% 56% 7 4 Note: 1 - Based on MLDL’s share of units 2 - Completion shown is on total project cost which is equal to land + construction related costs 3 - Revenue Recognition happens when 25% of construction related costs, 25% of sales by area and 10% of collections from customer is achieved 4 – Happinest Boisar IIC, IID and Bloomdale IIIA achieved revenue recognition in Q4 FY16 5 – Yet to commence construction at Vivante # Joint Development Bloomdale Phase IA & IB completed during Q4 FY16 14
Ongoing Projects Revenue MLDL’s Development Potential Sales Value % MLDL % sold Recognised Location Project Name Company share of till date completion (units) 1 Holding till date 2 mn sqm mn sq ft units units (Rs Crs) (Rs Crs) 3 89 9 103 4 Luminare I # MHPL 50% 0.03 0.37 120 72% 38% 273 NCR 89 9 Luminare II # MHPL 50% 0.04 0.41 120 25% 25% 112 - Hyderabad Ashvita IV # MLDL 100% 0.02 0.21 128 103 64% 81% 46 37 Ashvita V # MLDL 100% 0.02 0.21 128 103 62% 65% 51 33 Chennai 46% 5 Aqualily Apts C2 MRDL 96% 0.01 0.16 84 84 1% 1 - Nova IIA 6 8 8 4 MITL 96% 0.01 0.14 194 194 40% 48% 17 Nova IIB 6 8 MITL 96% 0.01 0.13 175 175 9% 48% 4 - Happinest Avadi MLDL 100% 0.01 0.10 176 176 10% 48% 3 - IIA-1 Windchimes I – Bengaluru - MHPL 50% 0.02 0.18 101 101 54% 46% 75 Tower I 7 Windchimes I – 53 4 MHPL 50% 0.02 0.26 128 128 53% 54% 98 Tower II 7 OVERALL 0.37 3.94 3020 2903 - 492 55% 1256 Note: 1 - Based on MLDL’s share of units 2 - Completion shown is on total project cost which is equal to land + construction related costs 3 - Revenue Recognition happens when 25% of construction related costs, 25% of sales by area and 10% of collections from customer is achieved 4 – Luminare I, Nova IIA and Windchimes I – Tower II achieved revenue recognition in Q4 FY16 5 - % completion reduced from 49% in Q3 FY16 to 46% in Q4 FY16 due to increase in budgeted cost of construction 6 – Nova Phase II subdivided into two phases - Phase IIA and Phase IIB 7 – Windchimes Phase I subdivided into two phases – Tower I and Tower II 8 – Increase in number of units due to change in configuration of units 9 - Change in MLDL’s share of units due to change in sales schedule of JD partner # Joint Development Ashvita Phase III, Aqualily Apts 2C1 and Avadi Phase I completed during Q4 FY16 15
Ongoing Projects – Antheia, Pune Project Progress 80% 60% 40% 20% 0% Mar'15 Jun '15 Sep'15 Dec'15 Mar'16 Antheia II (Mar‘16) Antheia II A Antheia II B Antheia II D Antheia II C Sales Completion Project Physical Progress % # % # # Antheia Tower C1: Terrace slab complete. Finishing 80% 64% II A activities in progress. Antheia 69% 58% Tower A4: 22nd slab complete II B Antheia Tower B4: Terrace slab complete 13% 60% II C Antheia 35% 56% Tower D4: Terrace slab complete Antheia IIC & IID (Mar‘16) II D # Sales% is on units sold basis ## Completion % shown includes land cost 16
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