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Analyst Presentation 2nd Quarter 2014-15
Table of Content
I. Company Overview
II. Commitment
III. Project Mix
IV. Ongoing Residential Project
V. New Sales update
VI. Construction Update
VII. Financial
1. Key Developments
2. Ratios
3. Balance Sheet
4. P&L
5. Cash flows
VIII.Disclaimer 1
22222
•Three Decades of Expertise in Real Estate
•HDIL is a listed Entity
•Market Leader in Mumbai Real Estate
•Land Reserves of 244.59 Million Sq. Ft.
Company History
•23 Ongoing Projects
•15 Million Sq. Ft. construction complete
•30.55 Million Sq.Ft. Under construction
Residential Portfolio
•Executive Chairman
• Mr. Rakesh Kumar Wadhawan
•Vice Chairman & Managing Director
• Mr. Sarang Wadhawan
Our Leadership
Company Overview
HDIL commitment
Continuing the Fiscal strategy of Debt reduction. Delivering Quality homes within the committedtimeline.
Enhancing quality of construction by engaging latesttechnology
Passionately pursue the dream of home foreveryone in Mumbai by providing affordable housing
Utilizing the current market scenario to enhance thesales and monetization of asset.
HDIL Foundation trust is committed to the generalwelfare and upliftment of the poor and needypersons through it CSR activities
3
Project Mix
4
Residential
Commercial
Retail
•Ongoing Projects – 4,750,000
•Planned Projects - 6,960,000
•Ongoing Projects – 464,456
•Planned Projects - 16,727,821
•Ongoing Projects – 6,209,035
•Planned Projects - 47,175,000
•Ongoing Projects– 30,557,810
•Planned Projects- 131,749,589
SRA
Ongoing Projects Segment wise Breakup & Saleable Area as on 30th September, 2014.
Area in Million sf
Ongoing Project- Residential
5
Project Location Saleable Area (in Sf) Project Status
Metropolis Andheri (West) 700,000 Possession in second half of this year
Residency Park - Phase II Virar (W) 600,000 Possession in second half of this year
Galaxy Kurla (E) 175,000 75% Possession given in Q1FY14-15
Planet HDIL Phase I Virar 15,882,810All Approvals in Place. FSI sale to
commence in Q3 FY14-15
Majestic Bhandup (W) 1,300,000 55% Construction Complete
Palghar Township (Phase I & II) Palghar 5,000,000 Construction in Full Swing
Ekta Nagar Kandivali (W) 1,500,000 Construction in Full Swing
Meadows - Phase I Goregaon (W) 1,000,000 Construction in Full Swing
Whispering Towers-Phase I Mulund 1,200,000 Construction in Full swing
Whispering Towers-Phase II Mulund (W) 800,000 Construction in Full swing
Premier Exotica Phase II Kurla (W) 800,000 Near Completion
Berkeley Square Ghatkopar 900,000 Construction in Full swing
Premier Exotica Phase I Kurla (W) 700,000 Near Completion
Total 30,557,810
as on 30th September, 2014.
6
�Construction Update- Residential Projects
Ongoing Project Update- Majestic Towers
8
Wing B,C,D Construction in Full Swing
Wing A,B Construction in Full Swing Front View of the Project
Side View of the Project
Sales has picked up in Majestic Towers, Whispering Tower and Premier Exotica
Ongoing Project Update- Whispering Tower
9
Sale Component Construction in Full Swing
10
Ongoing Project Update- Premier Exotica
Exotica Building 3 Exotica Building 4
Exotica Sample FlatExotica Sample Flat
�Annexure : Results
11
Key Development: 2nd Quarter 2014-15
1. Mumbai Real Estate market has seen gradual recovery in new
sales due to positive macro environment and improved approval
process
2. Consolidated interest cost has fallen to Rs.136 Cr from Rs.164
Cr. Company has converted Rs.150 Cr of loan into Lease Rental
Discounting.
3. Company has substantially spent towards mobilization advance
and Project approval for Planet HDIL and other projects. As of
now amount is not transferred into inventory, Amount will be
transferred into inventory in 3rd Quarter.
4. During the Quarter company sold approx. 310,319 Sq.Ft. of
saleable area amounting to approx. Rs 330 Cr.
5. The volume of the sales increased by 8.4% in term of area and
8.72% in term of revenue.
6. All the shares pledged by promoters were released in this
quarter.
7. Income recognized in this quarter from possession of Galaxy
Kurla, Harmony Oshiwara & Industrial Park Virar projects.
12
Financial Ratio
13
Particulars
Standalone Consolidated Standalone Consolidated
Quarter Ended Quarter Ended For the Six Months Ended For the Six Months Ended
30-Sep-14 30-Jun-14 Growth % 30-Sep-14 30-Jun-14 Growth % 30-Sep-14 30-Sep-13 Growth % 30-Sep-14 30-Sep-13 Growth %
Turnover (Net) 264.86 242.50 9.22% 265.33 249.87 6.19% 507.37 534.16 -5.02% 515.20 584.14 -11.80%
Other Income 39.42 31.36 25.70% 39.51 6.26 531.15% 70.78 66.83
5.91% 45.77 20.61 122.08%
Total Income 304.28 273.86 11.11% 304.84 256.13 19.02% 578.15 600.99 -3.80% 560.97 604.75 -7.24%
PBT&E 91.74 79.14 15.92% 84.33 75.91 11.09% 170.89 112.51 51.89% 160.24 104.14 53.87%
PBT % to income 30.15% 28.90% 27.66% 29.64% 29.56% 18.72% 28.56% 17.22%
EBIDTA 110.77 105.74 4.76% 105.49 105.52 -0.03% 215.88 171.90 25.58% 210.12 201.63 4.21%
EBIDTA % to income 36.40% 38.61% 34.61% 41.20% 37.34% 28.60% 37.46% 33.34%
PAT 63.13 60.06 5.11% 57.86 56.70 2.05% 123.20 73.75
67.05% 114.56 58.95 94.33%
PAT % to income 20.75% 21.93% 18.98% 22.14% 21.31% 12.27% 20.42% 9.75%
Net worth 10,548.41 10,485.27 0.60% 10,701.54 10,615.75 0.81% 10,548.41 10,255.51 2.86% 10,701.54 10,441.81 2.49%
Debt 2,444.08 2,400.41 1.82% 3,475.53 3,477.53 -0.06% 2,444.08 2,881.12 -15.17% 3,475.53 4,004.38 -13.21%
Debt Equity ratio 0.23 0.23 0.32 0.33 0.23 0.28
0.32 0.38
EPS -Basic 1.51 1.45 1.38 1.35 2.96 9.72
2.73 1.41
- Diluted 1.51 1.45 1.38 1.35 2.96 9.72
2.73 1.41
Inventories 10,752.94 10,635.19 1.11% 12,792.74 12,601.92 1.51% 10,752.94 10,557.05 1.86% 12,792.74 12,227.44 4.62%
Consolidated Cash: 213.99
Net Debt:3,261.54
All Figure in Cr.
Consolidated Balance Sheet- Unaudited
14
Particulars30th September, 2014 30th June, 2014 30th September, 2013 31st March, 2014
(Unaudited) (Audited) (Unaudited) (Audited)
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
Share Capital 4,190,039,860 4,190,039,860 4,190,039,860 4,190,039,860
Reserves and Surplus 102,825,368,329 107,015,408,189 101,967,461,780 106,157,501,640 100,228,116,519 104,418,156,379 101,400,471,700 105,590,511,560
(2) Minority Interest 73,732,927 73,893,183 72,339,773 73,821,394
(3) Non-Current Liabilities
Long-term borrowings 11,003,386,023 11,292,465,920 15,278,537,076 11,271,184,637
Deferred tax liabilities (Net) 188,516,020 200,024,677 173,284,509 189,309,365
Long term provisions 11,289,311 11,203,191,354 14,113,751 11,506,604,348 13,684,504 15,465,506,089 13,674,831 11,474,168,833
(4) Current Liabilities
Short-term borrowings 17,332,714,680 17,075,255,192 19,922,092,957 16,432,932,858
Trade payables 4,733,728,917 4,634,098,377 4,875,648,414 4,408,538,410
Other current liabilities 31,567,327,062 31,332,097,762 25,714,090,897 29,449,416,582
Short-term provisions 1,884,298,581 55,518,069,240 1,619,613,560 54,661,064,891 1,714,975,941 52,226,808,209 1,440,042,655 51,730,930,505
Total 173,810,401,710 172,399,064,062 172,182,810,450 168,869,432,292
II.ASSETS
(1) Non-current assets
Fixed assets
(i) Tangible assets 1,214,986,746 2,245,193,304 2,099,918,311 2,207,427,918
(ii) Intangible assets 1,193,435 10,181,575 19,464,884 9,915,961
(iii) Capital work-in-progress 6,506,392 1,222,686,573 58,569,509 2,313,944,388 155,517,086 2,274,900,281 69,099,550 2,286,443,429
(iv) Intangible assets under development - - -
Goodwill on consolidation 35,741,457 53,612,185 398,039,292 71,482,914
Non-current investments 1,047,188,813 498,225,787 519,997,990 500,725,787
Long term loans and advances 805,306,593 839,548,772 887,786,300 857,336,295
(2) Current assets
Current investments 79,485,202 1,338,974,988 157,548 147,148,414
Inventories 127,927,409,034 126,019,230,846 122,274,424,024 124,678,503,229
Trade receivables 3,643,671,330 3,984,505,598 7,264,859,074 3,813,955,394
Cash and bank balances 2,139,954,044 4,388,564,903 2,011,184,122 2,267,065,655
Short-term loans and advances 36,908,958,664 170,699,478,274 32,962,456,595 168,693,732,930 36,551,461,819 168,102,086,587 34,246,771,175 165,153,443,867
Total 173,810,401,710 172,399,064,062 172,182,810,450 168,869,432,292
Standalone Balance Sheet- Unaudited
15
Particulars 30th September 2014 30th June 2014 30th September 2013 31st March 2014
(Unaudited) (Audited) (Unaudited) (Audited)
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
Share Capital 4,190,039,860 4,190,039,860 4,190,039,860 4,190,039,860
Reserves and Surplus 101,294,089,184 105,484,129,044 100,662,692,277 104,852,732,137 98,365,121,946 102,555,161,806 100,062,061,764 104,252,101,624
(2) Share application money pending allotment
(2) Non-Current Liabilities
Long-term borrowings 2,670,613,608 3,116,408,874 7,590,295,540 3,212,408,874
Deferred tax liabilities (Net) 191,001,811 180,974,308 156,781,013 170,966,703
Long term provisions11,003,171 2,872,618,590 12,695,545 3,310,078,727 12,546,467 7,759,623,020 12,321,636 3,395,697,213
(3) Current Liabilities
Short-term borrowings 15,308,678,221 14,437,769,164 16,247,808,578 13,795,446,830
Trade payables 4,291,172,061 4,172,407,673 4,390,366,255 3,932,279,882
Other current liabilities 31,698,396,541 32,741,947,864 28,567,619,480 31,077,735,067
Short-term provisions 1,883,098,779 53,181,345,602 1,618,743,764 52,970,868,465 1,650,692,521 50,856,486,834 1,439,659,085 50,245,120,864
Total 161,538,093,236 161,133,679,329 161,171,271,660 157,892,919,701
II.ASSETS
(1) Non-current assets
Fixed assets
(i) Tangible assets 1,202,836,524 1,728,265,425 1,623,625,518 1,747,269,626
(ii) Intangible assets1,193,435 848,160 10,595,812 1,260,960
(iii) Capital work-in-progress6,506,392 1,210,536,351 14,901,102 1,744,014,687 118,240,174 1,752,461,504 13,370,663 1,761,901,249
Non-current investments 8,198,617,961 8,369,334,935 8,388,795,365 8,369,334,935
Long term loans and advances3,533,640 3,950,804 20,884,490 1,882,890
(2) Current assets
Current investments157,548 1,259,647,334 157,548 67,820,760
Inventories 107,529,478,533 106,351,941,810 105,570,578,886 105,965,417,346
Trade receivables 2,490,651,229 2,812,458,836 4,460,803,152 2,549,898,662
Cash and bank balances 2,110,649,689 4,121,031,805 1,975,095,965 2,045,613,916
Short-term loans and advances 39,994,468,285 152,125,405,284 36,471,299,118 151,016,378,903 39,002,494,750 151,009,130,301 37,131,049,943 147,759,800,627
Total 161,538,093,236 161,133,679,329 161,171,271,660 157,892,919,701
P&L Consolidated- Unaudited
16
ParticularsQuarter ended
30th September, 2014
Quarter ended 30th June, 2014
Quarter ended 30th September,
2013
Six months ended 30th September,
2014
Six months ended 30th September,
2013
Year ended 31st March, 2014
Revenue:
Revenue from operations 2,653,305,621 2,498,672,277 4,334,772,648 5,151,977,898 5,841,380,188 8,722,654,507
Other Income 395,072,741 62,589,273 104,262,258 457,662,014 206,088,670 813,786,515
Total Revenue 3,048,378,362 2,561,261,550 4,439,034,906 5,609,639,912 6,047,468,858 9,536,441,021
Expenses :
Cost of material consumed 2,459,388,618 1,145,788,044 977,837,696 3,605,176,661 2,258,962,242 6,141,119,666
Changes in inventories of finished goods, work inprogress and stock in trade
(1,912,434,664) (1,340,642,969) 416,199,509 (3,253,077,633) (1,844,641,929) (7,527,450,582)
Employee benefits expense 97,793,157 99,723,326 92,397,597 197,516,483 199,126,905 401,388,130
Finance costs 1,369,965,826 1,642,972,127 1,833,809,739 3,012,937,953 3,527,231,869 7,072,930,264
Depreciation and amortisation expense 34,031,044 41,422,067 200,807,280 75,453,111 401,672,860 785,746,516
Other expenses 116,191,891 203,981,660 179,112,255 320,173,552 463,706,750 861,052,817
Transfer to Investment (88,977,655)
Total Expenses 2,164,935,872 1,793,244,256 3,700,164,076 3,958,180,128 5,006,058,697 7,645,809,157
Profit before exceptional items and tax 883,442,490 768,017,293 738,870,830 1,651,459,784 1,041,410,161 1,890,631,864
Adjustment on account of Revise depreciation as per Sch II of the Companies Act,2013
40,130,223 8,898,358 - 49,028,581 - -
Profit before tax 843,312,267 759,118,936 738,870,830 1,602,431,203 1,041,410,161 1,890,631,864
Tax expense:
Current tax 276,471,441 181,341,755 299,348,005 457,813,196 445,034,843 90,571,887
Deferred tax (11,629,154) 10,715,312 12,719,483 (913,842) 7,143,574 23,168,429
264,842,287 192,057,067 312,067,488 456,899,354 452,178,417 113,740,316
Profit after tax 578,469,980 567,061,869 426,803,342 1,145,531,849 589,231,744 1,776,891,548
Less : Minority Interest (161,631) 66,485 (177,873) (95,146) (237,319) 1,240,883
Less : Share of loss of Associates - - 22,151 - 17,236 -
Profit for the year 578,631,611 566,995,384 427,003,366 1,145,626,995 589,486,299 1,775,650,665
Earnings per equity share of ` 10/-
(1) Basic 1.38 1.35 1.02 2.73 1.41 4.21
(2) Diluted 1.38 1.35 1.02 2.73 1.41 4.21
P&L Standalone- Unaudited
17
Particulars
Quarter ended 30th September,
2014
Quarter ended 30th June, 2014
Quarter ended 30th September,
2013
Six months ended 30th September,
2014
Six months ended 30th September,
2013
Year ended 31st March, 2014
Revenue:
Revenue from operations 2,648,632,150 2,425,045,421 4,157,590,235 5,073,677,571 5,341,563,542 7,707,926,771
Other Income 394,282,316 313,560,771 365,818,955 707,843,087 668,288,419 1,696,500,424
Total Revenue 3,042,914,466 2,738,606,192 4,523,409,190 5,781,520,658 6,009,851,961 9,404,427,195
Expenses:
Cost of material consumed 2,031,284,686 976,095,069 666,344,641 3,007,379,755 1,451,305,731 4,182,640,641
Changes in inventories of finished goods and work-in-progress
(1,177,536,723) (386,524,464) 1,542,206,002 (1,564,061,187) 308,659,519 (3,364,870,831)
Employee benefits expense 92,129,536 89,727,555 82,812,731 181,857,091 178,696,081 357,711,696
Finance costs 1,072,799,031 1,121,787,944 1,358,820,301 2,194,586,975 2,639,227,576 5,096,406,656
Depreciation and amortisation expense 12,982,872 14,220,209 19,631,933 27,203,081 39,073,976 78,006,290
Other expenses 93,811,254 125,708,165 85,388,702 219,519,419 267,813,412 499,233,559
Total Expenses 2,125,470,656 1,941,014,478 3,755,204,310 4,066,485,134 4,884,776,295 6,849,128,011
Profit before exceptional items and tax 917,443,810 797,591,714 768,204,880 1,715,035,524 1,125,075,666 2,555,299,184
Exceptional Items - - - - -
Adjustment on account of Revise depreciation as per Sch II of the Companies Act,2013
- 6,145,396 - 6,145,396 - -
Profit before tax 917,443,810 791,446,318 768,204,880 1,708,890,127 1,125,075,666 2,555,299,184
Tax expense:
Current tax :
Income tax 276,019,400 180,808,200 261,112,839 456,827,600 382,413,219 87,500,000
Deferred tax charge 10,027,503 10,007,605 11,175,440 20,035,108 5,119,962 19,305,652
286,046,903 190,815,805 272,288,279 476,862,708 387,533,181 106,805,652
Profit for the period 631,396,907 600,630,513 495,916,601 1,232,027,419 737,542,485 2,448,493,532
Earnings per equity share of ` 10/- each
Basic 1.51 1.45 1.18 2.96 1.76 5.81
Diluted 1.51 1.45 1.18 2.96 1.76 5.81
Cash flow Consolidated- Unaudited
18
Particulars Quarter ended
30th September, 2014 A Cash flow from operating activities
Net profit before tax 843,312,267
Adjustments for :
(1) Depreciation and amortisation expense 34,031,044
(2) Interest expenses 1,369,965,826
(3) Depreciation due to change in Accounting policy 40,130,223
(5) Interest received (52,860,605)
(6) Dividend received (1,172,520)
(7) Loss/(profit) on sale of investments (339,555,808)
(9) Loss on sale of fixed assets - 1,050,538,160
Operating profit before working capital changes 1,893,850,427
Movements in working capital :
Decrease / (Increase) in inventory (1,912,434,664)
Decrease / (Increase) in trade receivable 331,693,739
Decrease / (Increase) in other receivables (4,054,074,953)
(Decrease) / Increase in trade and other payables 353,502,407
Net movement in working capital (5,281,313,470)
Cash generated from operations (3,387,463,043)
Less : Direct taxes paid (net of refunds) 12,194,361
Net cash from operating activities (3,399,657,404)
B Cash flows from investing activities
(1) (Increase) / Decrease in capital work in progress 17,444,186
(2) (Increase) / Decrease in investments (net) 2,537,014,784
(3) Interest received 52,860,605
(4) Dividend received 1,172,520
(5) Purchase of fixed assets (37,012,274)
Net cash from investing activities 2,571,479,821
C Cash flows from financing activities
(1) Proceeds from borrowings 1,308,505,399
(2) Repayment of borrowings (1,328,512,641)
(3) Interest paid (1,369,965,826)
Net cash used in financing activities (1,389,973,068)
Net increase in cash and cash equivalents (A + B + C) (2,218,150,651)
Cash and cash equivalents at the beginning of the year 4,388,564,903
Less : Delink of subsidiary 30,460,208
Cash and cash equivalents at the end of the year 2,139,954,044
Components of cash and cash equivalents as at
Quarter ended
30th September, 2014
Cash on hand 21,657,364
With banks - on current account 65,568,721
- on escrow account 6,593,056
- on deposit account * 2,046,134,903
2,139,954,044
Cash flow Standalone- Unaudited
19
Quarter ended 30th September, 2014
Cash flow from operating activities
Net profit before tax 917,443,810
Adjustments for :
(1) Depreciation and amortisation expense 12,982,872
(2) Interest expenses 1,072,799,031
(3) Interest received (52,849,355)
(4) Dividend received (572,400)
(5) Profit on sale of investments (339,555,808) 692,804,340
Operating profit before working capital changes 1,610,248,150
Movements in working capital :
Decrease / (Increase) in inventory (1,177,536,723)
Decrease / (Increase) in trade receivable 321,807,607
Decrease / (Increase) in other receivables (3,522,752,003)
(Decrease) / Increase in trade and other payables (937,607,450)
Net movement in working capital (5,316,088,569)
Cash generated from operations (3,705,840,419)
Less : Direct taxes paid (net of refunds) 12,149,408
Net cash from operating activities (3,717,989,827)
Cash flows from investing activities
(1) (Increase) / Decrease in capital work in progress 8,394,710
(2) (Increase) / Decrease in other investments 9,385,809
(3) Redemption of liquid mutual fund units 1,259,489,786
(4) Proceeds from sale of investment 1,050,000,000
(5) Interest received 52,849,355
(6) Dividend received 572,400
(7) Purchase of fixed assets (37,012,274)
Net cash from investing activities 2,343,679,785
Cash flows from financing activities
(1) Proceeds from borrowings 1,151,790,030
(2) Repayment of borrowings (715,063,073)
(3) Interest paid (1,072,799,031)
Net cash used in financing activities (636,072,074)
Net increase in cash and cash equivalents (A + B + C) (2,010,382,116)
Cash and cash equivalents at the beginning of the period 4,121,031,805
Cash and cash equivalents at the end of the period 2,110,649,689
Components of cash and cash equivalents as at 30th September 2014
Cash on hand 2,173,201
With banks - on current account 56,448,529
- on Escrow account 6,593,056
- on deposit account * 2,045,434,903
Total 2,110,649,689
Disclaimer
20202020
This investor presentation has been prepared by Housing Development and Infrastructure Ltd (“HDIL”). and does not
constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other
documentation or information (or any part thereof) delivered or supplied should not be deemed to constitute an offer.
No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness,
accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this
presentation is only current as of its date. Certain statements made in this presentation may not be based on historical
information or facts and may be “forward looking statements”, including those relating to the general business plans and
strategy of HDIL, its future financial condition and growth prospects, future developments in its industry and its
competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’,
‘horizons of growth’, ‘strong growth prospects’, etc., or similar expressions or variations of such expressions. These
forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results,
opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These
risks and uncertainties include, but are not limited to risks with respect to its real estate business, SEZ business and its
infrastructure business.
HDIL may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify
any person of such revision or changes. This presentation cannot be copied and disseminated in any manner.
No person is authorized to give any information or to make any representation not contained in and not consistent with
this presentation and, if given or made, such information or representation must not be relied upon as having been
authorized by or on behalf of HDIL. This presentation is strictly confidential.
21
For further information please log on to http://www.hdil.in/ or contact:
Mr. Shriram Totala/ Ms. Vidya Morajkar
Tel: +91 (22) 67888000
Email: [email protected] / [email protected]
Mr. Siddharth Kumar / Mr. Debdoot Majumder
Mobile: +91 9833933447 / 9619321119
Email: [email protected] /[email protected]
Thank You
