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February, 2014

February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

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Page 1: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

February, 2014

Page 2: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

This presentation has been prepared solely by Unity Infraprojects Limited (‘UIL’) for informational purposes only and does not

constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of UIL and no part of it shall

form the basis of or be relied upon in connection with any contract or commitment whatsoever. 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. None of UIL nor any of its respective affiliates, advisers or representatives, shall have

any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its

contents or otherwise arising in connection with this presentation. 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 UIL, its future financial

condition and growth prospects, future developments in its industry and its competitive and regulatory environment. 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 engineering, procurement and construction business, the real

estate markets and political, economic, legal and social conditions in India. Any opinion, estimate or projection herein constitutes

a judgment as of the date of this presentation, and there can be no assurance that future results or events will be consistent with

any such opinion, estimate or projection. The information in this presentation is subject to change without notice, its accuracy is

not guaranteed, it may be incomplete or condensed and it may not contain all material information concerning UIL. UIL and its

respective affiliates do not have any obligation to, and do not intend to, update or otherwise revise any statements contained in

this presentation. This presentation cannot be used, reproduced, copied, distributed, shared or 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 UIL.

Disclaimer

Page 3: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Index

• Overview

• Business Segments

• Financials

• Value Drivers

Page 4: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

4

Overview

4

Page 5: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

► An IMS certified company, Unity Infraprojects Limited (UIL) is a leading player in

infrastructure segment since last 34 years

► Company has grown from an EPC contractor to a full fledged infrastructure company,

specializing in building construction and infrastructure segments namely transportation and

irrigation & water supply.

► Company has a bright future, with an order book of Rs. 35083.6 mn as at Nov, 2013.

Qualified & experienced management, and an employee base of 1013 personnel as at

September 30, 2013.

► Listed on BSE & NSE in the year 2006, the company has a market capitalization of Rs. 1548.4

mn as at Feb 6th, 2014.

► Achieved a turnover of Rs. 20398 mn & PAT of Rs. 925 mn for FY 2013 and has net worth of

Rs. 8366 mn as at March 31, 2013

Snapshot

5

Page 6: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

The Quantum Leap

6

FY 2003 - 05 FY 2005 - 07

FY 2001- 03

FY 2007 - 11

Diversified (geographically), bagged projects outside Maharashtra - DDA - Assam secretariat & NE Frontier railways Gets ISO certifications

Build diversified capability - Stadium - Airport - Railway station - Irrigation projects

IPO of 1868 Million INR

Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City in North India Bags single largest project worth Rs 5729 Mn Bagged one of the deepest 8.3 Km long water tunnel project worth Rs 11458.8 Mn Achieved turnover of Rs. 17015 Mn for FY2011

Revenue: ` 494 Mn

Revenue: Rs. 50000 Mn

FY 2001

FY 2018 FY 2011 - 13 Bagged one of the biggest building segment project worth Rs. 4141.1

mn Bagged orders worth Rs. 43066.7 mn in FY2011-13 Achieved turnover of Rs. 20398 Mn for FY2012-13

Page 7: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Major Completed Projects

7

Pre – FY 2008 -09 FY 2008 - 09

Clear water transmission mains,

Delhi Jal Board - Rs 450 mn

Building Water Transport

Road Connectivity Major Ports Pkg 1, Navi Mumbai - Rs. 1427 mn

Strengthening of Tansa Dam, Thane Distt. -

Rs. 852 mn

FY 2011 -12

Strengthening of JVLR Road, Mumbai -

Rs. 672 mn

Nizam Instt. of Medical Sciences, Hyderabad -

Rs. 1259 mn

KP Mall, Pune - Rs. 790 mn

Multiplex Bldg, Market City, Pune - Rs. 780 mn

Project Seabird, Karwar - Rs. 740 mn

Common Facility Building, BARC,

Mumbai - Rs. 510 mn

Residential Bldgs at Swan Mills, Mumbai -

Rs. 700 mn

Faculty Block at Tata Memorial Hospital,

Mumbai - Rs. 301 mn

CST Airport, Mumbai – Rs. 1067 mn

Const. of Hotel, Balewadi, Pune -

Rs. 2700 mn

Nepal Bharat Maitri, Nepal - Rs. 520 mn

Tunnel for NF Railway, Tripura - Rs. 494 mn

New Transformer factory Siemens Ltd. Kalwa – Rs. 340 mn

WSS Pise Head Works, Thane - Rs. 770 mn

New Assam Secretariat, Guwahati - Rs. 912 mn

Permanent Shelters, Andaman & Nicobar

Islands - Rs. 2857 mn

LIG Houses, New Delhi – Rs. 302 mn

FY 2009 -10

Big Mall, Thane - Rs. 200 mn

District level Hospital Mapusa, Goa -

Rs. 222 mn

Insurance Educational Instt., Mumbai -

Rs. 171 mn

C & AG India , Delhi - Rs. 616 mn

Yatri Niwas, Nanded - Rs. 750 mn

Permanent Shelters, Andaman & Nicobar

Islands - Rs. 1147 mn

FY 2010 - 11

Storm Water Pumping Stn. Mumbai -

Rs. 700 mn

HSRDC Road Pkg I , Haryana - Rs. 2405 mn

HSRDC Road Pkg II, Haryana - Rs. 1426 mn

MDN Stadium, New Delhi - Rs. 1478 mn

Page 8: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Shareholding Pattern

December 31, 2013

62.72%

6.14%

1.42%

6.29%

0.95%

21.76% Promoters

Fin. Instt/Banks

FII

PCB

NRI/OCB/Foreign/Others

General Public

Category No. Of Shares % Holding

Indian Promoters 46464500 62.72

Banks Fin. Inst. and Insurance 4549743 6.14

FII's 1053497 1.42

Private Corporate Bodies 4638479 6.29

NRI's/OCB's/Foreign Others/Others 682289 0.95

General public 16110184 21.76

Total 74087380 100.00

Page 9: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

9

Business Segments

9

Page 10: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Company Structure

10

Unity Infraprojects Limited (Construction Business)

Unity Realty Developers Limited

Unity Infrastructure Assets (BOT Projects)

Begaluru

(100% Equity participation)

Kolkata (100% Equity participation)

Goa

(50% Equity participation)

Nagpur (50% Equity participation)

Unity Telecom (100% Equity participation)

Page 11: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Building

Commercial & Residential Buildings, Mass Housing Projects & Townships Industrial Structures, Airports, Infotech Parks, Hotels & Hospitals, Educational Complex, Stadium and Railway Station

Business Segments - UIL

Water

Dams, Tunnels, Lift Irrigation, Water Supply & Sewerage and

Micro tunneling

Transportation

Roads, Bridges, Flyovers, Subways & Tunnels

11

Page 12: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Business Segments - through subsidiaries

Real Estate Development Hotels, IT Parks, Commercial and Retail

Telecom Business Construction of telecom towers, end to end (turnkey) solutions of Cell sites, in building solutions, installation and Commissioning of various telecom equipments, deployment of wireless broadband infrastructure rollouts like Wi – Fi and Wimax etc.

12

Page 13: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

National Footprint

13

Presence across various projects all over India

13

Building

Water

Transportation

Location Building Water Transport No. of

Ongoing Projects

Maharashtra 21 10 2 32

Andhra Pradesh 2 - - 2

Delhi 1 - - 8

Uttar Pradesh 2 - - 2

Bihar 2 - - 2

Madhya Pradesh - 2 - 2

Haryana - - 3 3

Karnataka 4 - - 3

Orissa 1 - - 1

Rajasthan - - 3 3

Assam 2 - - 2

Jharkhand 1 - 1 2

Goa 1 1 - 2

Gujarat 1 1 2

Meghalaya 1 - - 1

Manipur - - 1 1

Nepal 1 - - 1

Bangladesh 1 - - 1

Total 46 14 10 72

Page 14: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Select Projects in Civil Construction Total Contract Value

( Rs. Mn)

Redevelopment of Lady Hardinge Hospital, New Delhi 4141

Construction Works at Bihar Agriculture University 4035

Construction of Delhi Police Headquarter 3150

Director General of the Married Accommodation Project, Delhi 2992

Construction of Miners’ Quarters for BCCL India 2868

Redevelopment of R.N. Cooper Hospital at Vile Parle, Mumbai 2654

Township for Kudgi Super Thermal Power Project, Karnataka 2486

Prison Complex i/c housing at Mandoli, New Delhi 1543

Township Project for Rail Coach Factory, Raebareli, Uttar Pradesh 1450

Construction of Netra Complex For NTPC, Greater Noida, UP 1253

Construction of Chemical Laboratory Building, Delhi University, Delhi 1218

Construction of NIFT Campus at Kharghar, Navi Mumbai 1034

Select Projects in Transportation

Construction of 4 –laning of Punjab/ Haryana Border - Jind Section of NH- 71 (DBFOT) 5100

Development & operation of Suratgarh- Sriganganagar Section of NH-15 (DBFOT) 3100

Chomu Mahla Road Project (DBFOT) 1980

Select Projects in Irrigation & Water Supply

Construction of long tunnel from Kapurbawadi to Bhandup Complex, Mumbai 5729

Replacement of existing riveted Tansa Mains from Tansa to Tarali – Thane District 3252

14

Some Significant Ongoing Projects

Page 15: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

15

Financials

Page 16: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Financial

16

Quarterly Results

Particulars Q3FY 14

(Unaudited)

Q2FY 14

(Unaudited)

Q1FY 14

(Unaudited)

Q4FY 13

(Audited)

Q3FY12

(Unaudited)

Q2FY13

(Unaudited)

Q1FY 13

(Unaudited)

Net Sales 5183.5 4016.6 4211.2 6924.2 5511.1 4011.4 3951.5

% Growth 5.9% 0.13% 6.6% (3.6%) 10.67% 2.95% 5.1%

Expenditure 4682.1 3432.2 3735.9 6253.6 4236.3 3362.8 3463.4

EBIDTA 656.0 684.8 559.6 732 750.0 708.5 553.8

% Margin 12.65% 17.05% 13.3% 10.57% 15.32% 17.7% 14 %

Other Income 104.6 50.9 61.1 74.8 32.3 15.4 46.2

Interest 599.0 491.4 390.5 398.9 331.9 408.7 294.4

Depreciation 49.9 49.4 48.3 60 49.0 55.6 48.8

PBT 44.1 142.6 181.9 347.9 368.1 259.6 256.8

Tax 23.5 42.0 49.1 49.5 121.5 94.0 76.0

PAT 20.6 100.6 132.8 298.4 246.6 165.6 180.8

% Margin 0.4% 2.5% 3.1% 4.3% 5.04% 4.1% 4.57%

(Rs in mn)

Page 17: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Financial

17

Nine Months Results

Particulars 9MFY14

(Unaudited)

9MFY13

(Unaudited)

9MFY12

(Unaudited)

9MFY11

(Unaudited)

Net Sales 13411.4 13474.0 12552.9 11312.4

% Growth 0.5% 7.3% 11% 17.88%

Expenditure 11850.2 11627.2 10873.0 9948.4

EBIDTA 1900.4 2060.3 1851.3 1585.3

% Margin 14.2% 15.3% 14.7% 14.76%

Other Income 191.6 54.5 103.5 80.0

Interest 1480.9 1128.6 867.8 531.4

Depreciation 147.6 159.1 144.9 123

PBT 368.5 877.1 942.1 931

Tax 114.6 170 293.7 295.6

PAT 253.9 627.1 648.4 635.4

% Margin 1.9% 4.6% 5.2% 5.62%

(Rs in mn)

Page 18: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Financial

Particulars (Rs in mn)

FY2012-13 FY2011-12 FY2010-11 FY2009-10 FY2008-09 FY2007-08 FY 2006-07

Net Sales 20398.2 19727.7 17015.2 14768 11307 8495 5429

% YOY Growth 15.94% 15.94% 15.22% 30.61% 33.1% 56.47% -

Expenditure 17880.8 17209.9 14923.2 12855 9880 7433 4741

EBIDTA 2792.3 2918.5 2444.9 2057 1599 1190 794

% Margin 13.69% 14.79% 14.37% 13.8% 13.9% 13.8% 14.3%

Other Income 55.9 28.0 150.1 122 156 122 100

Interest 1527.5 1213.2 832.7 584 400 206 121

Depreciation 219.1 200.5 179.9 175 159 73 55

PBT 1225.0 1504.8 1432.3 1299 1039 911 619

Tax 299.5 469.3 488.8 448 342 311 196

PAT 925.5 1035.5 943.5 851 697 600 423

% Margin 4.5% 5.25% 5.5% 5.7% 6.1% 7% 7.6%

18

Annual Results

Page 19: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Financial

19

Particulars (Rs. in mn)

FY 2012 - 13 FY 2011 - 12 FY 2010 - 11 FY 2009 - 10 FY 2008 - 09 FY 2007 - 08

Share Capital 148 148 148 148 134 134

Reserves 8218 6361 6361 5504 4049 3423

Net Worth 8366 7458 6510 5652 4183 3557

Non Current Liabilities 906 1685 8481 6863 4721 2794

Current Liabilities 15692 12295

Total Liabilities 24965 21438 19566 12530 8920 6361

Fixed Asset 1331 1319 1159 1003 1073 573

Non Current Asset 2445 4745 15404 14649 12468 8842

Current Asset 21189 16693

Total Assets 24965 21438 19566 12530 8920 6361

Ratios FY 2012 - 13 FY 2011 - 12 FY 2010 - 11 FY 2009 - 10 FY 2008 - 09 FY 2007 - 08

D/E 1.35 1.35 1.21 1.1 0.8 0.3

RONW 11.1% 13.9% 14.5% 15% 16.7% 16.9%

P/E 2.1 3.3 4.9 10.4 1.4 12.3

Annual Asset and Liabilities Statement

Ratios

Page 20: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Revenue Mix

Turnover Rs 14768 mn

Turnover Rs 17015 mn

Turnover Rs 19728 mn

20

Turnover Rs 20398 mn

71

55

48

50

60

71

64

26

20

28

46

24

13

16

3

25

24

4

16

16

20

2007-08

2008-09

2009-10

2010-11

2011-12

2012-13

Dec-13

Building Water Transport

Turnover Rs 11308 mn

9MFY14 Turnover Rs 13411.4 mn

Turnover Rs 8495 mn

Page 21: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

21

Value Drivers

21

Page 22: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Execution Capability & Asset Base

Demonstrated Track record

Robust Order book

Management Strength

Promising Road Ahead

Value Drivers

Page 23: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Execution Capabilities & Asset Base

23

Large fleet of state of Art Equipment

Operation in diverse segments & geographies

Proven ability to undertake Complex projects

Experienced Management Team & employee base

In the big league and entering newer segments

Increase in ticket size of Order book

• Large fleet of sophisticated equipment • Gross block of Rs 2490 Million as of March 31, 2013 • Own equipment has led to increased operating margins

• Very broad portfolio of projects within each segment • Expertise in transportation , water and diverse building construction • Projects executed in 20 states in India, as well as Nepal and Bangladesh

• Expansion of Terminal 1B at Mumbai Airport without disrupting operations • Strengthening of Tansa dam executed without emptying Dam • Rabale railways station built on operational railway line

• 3 out of 4 Promoters have engineering background • Active board • Dedicated core team with over 2 decades of working experience with company • Well qualified and experienced team of 1013 people as at September 30, 2013

• Competing with large players like L&T, IVRCL, Nagarjuna, HCC, Patel. • Proven track record in execution of logistically challenging projects • Identified and entered niche segments like microtunenneling

• Developed skills to handle large sized projects, recently got order for a single project worth Rs. 11450 mn in joint venture • Significant increase in ticket size – from Rs 650 mn in 2005 to Rs. 5725 mn

in 2009

Page 24: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Demonstrated track record

Turnover (Rs in mn) Gross Block (Rs in mn)

EBIDTA and PAT (Rs in mn) EBIDTA and PAT Margin

24

84

95

11

30

7

14

76

8

17

01

5

19

72

8

20

39

8

0

5000

10000

15000

20000

25000

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

13.8 13.9 13.8 14.4 14.8

13.7

7 6.1

5.7 5.5 5.2 4.5

0

2

4

6

8

10

12

14

16

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

EBIDTA Margin PAT Margin

11

90

15

99

20

57

24

44

.9 2

91

8.5

27

92

.3

60

0

69

7

85

1

94

3.5

10

35

.5

92

5.5

0

500

1000

1500

2000

2500

3000

3500

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

EBIDTA PAT

78

1

14

36

15

37 1

91

8

22

17

24

90

0

500

1000

1500

2000

2500

3000

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13

Page 25: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

54% 21%

25%

Building Water Transport

Robust Order Book

25

Order Book Growth (Rs in mn) Segment wise breakup of Order Book

Client wise breakup of Order Book Geographic breakup of Order Book

52.1%

1.03%

36.2%

10.7% 0.05%

North East West South Overseas

91%

9%

Government Private

24

10

0

26

94

0

34

77

5

35

01

1 4

77

16

33

53

1

33

54

4

0

10000

20000

30000

40000

50000

60000

Page 26: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Management Strength

26

Experienced Key Management Personnel

Kishore K. Avarsekar

(CMD)

Abhijit K. Avarsekar

(VCMD & CEO)

Ashish K. Avarsekar

(Executive Director)

Pushpa K. Avarsekar

(Executive Director)

Madhav Nadkarni

(Chief Financial Officer – C.A., Exp 23 yrs )

Promoters

Prakash Chavan

(CS - MCom, LLB, CS, DFM, DORM, NCS, GDC & A Exp 16 yrs)

Page 27: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Promising Road Ahead

27

► The company bagged orders (gross) so far - Rs. 11607.8 Mn.

► Orders Bagged in fiscal 2012-13– Rs.14443 mn

► Company’s L1 Status as at February 6th, 2014 – Rs. 8097.8 mn

► Bid for and secure more complex and profitable infrastructure projects and

focus on projects that are within our core competence.

► Expand operations to other types of infrastructure projects which are

technologically driven

Page 28: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

Execution Capability & Asset Base

28

The burgeoning Infrastructure Opportunity

Unity’s competitive strengths

Creation of Exponential Value…………………….

Demonstrated Track record Robust Order book

Management Strength

Promising Road Ahead

Page 29: February, 2014 2014.pdf · - Irrigation projects IPO of 1868 Million INR Foray into New areas like real estate development, BOT & telecom Bags Road Projects from HSRDC & Pink City

29

Thank You

29