Investor Corporate Presentation

December 2015

Puravankara Projects Limited

Purva Venezia, Bengaluru

10 - 16
17 - 20
21 - 24
25 - 30
31 - 33
34 - 35
36 - 38

40 - 44

45 - 48
49
50

Area information

Sales

Cash Flows

Income Statement Analysis

Balance Sheet and Statement of Capital Employed

Debt

Shareholding Pattern/ Stock Movement

Leadership

Location Maps

Project Pictures

Awards and Achievements

Disclaimer

39

3-9

Company Overview

Contents

Company Overview

Sales and Marketing offices in Delhi-NCR, Mumbai, United Arab Emirates and Kingdom of Saudi Arabia

Strong in-house execution capability together with established relationships with leading contractors in the country with focus on

Upcoming projects totaling 24.53msft (PPLs economic interest 18.66msft)

quality, internal processes and systems;

Projects under development totaling 21.29 msft / (PPLs economic interest 18.68 msft)

Revenues of INR 363 crores and EBITDA of INR 79 crores for the quarter ended December 31, 2015.

Focus on delivering quality housing at affordable prices through value engineering

Completed 50 residential projects and 4 commercial projects spanning over 27.23 msft (PPLs economic interest 24.35 msft)

Projects in Bengaluru, Chennai, Mangalore and Coimbatore. Upcoming project in Hyderabad.

Established presence in premium affordable housing through its wholly owned subsidiary, Provident Housing Limited;

Projects in Bengaluru, Chennai, Kochi, Coimbatore, Hyderabad, Mysore, Mangalore, Pune, Mumbai and Colombo.

premium affordable housing projects;

Amongst South Indias leading real estate developer with an established presence in residential segment comprising of luxury and

of repute;

Deep domain knowledge of 40 years of the Promoter Mr. Ravi Puravankara, and his team have established Puravankara as a developer

Overview

Provided for diverse residential needs across the income spectrum

Delivered developable area of 6.75 msft./ 6,630 units.

Ongoing projects with developable area of 7.18 msft / 6,848 units (PHLs economic interest 6.52 msft/ 6,243 units)

Land with well connected public transportation

Lower cost of construction through use of technology and innovative construction techniques

Efficient design improving effective utilization of space

Affordability is a combination of

Caters to the premium affordable housing segment targeting first time home buyers

response to burgeoning demand for mid-income housing

Established Provident Housing Limited in 2008 to create mid and mass housing projects comprising quality affordable apartments in

Premium Affordable housing through Provident Brand

FY 2014-2015

FY 2013- 2014

FY 2012-2013

FY 2011-2012

FY 2009-2010

For Video please click : The Tree

Off Magadi Main Road / Bengaluru / (0.6 msft)

For Video please click : Provident Greenpark

Selvapuram, / Coimbatore / (0.6 msft)

For Video please click : Provident Skyworth

Derabail, / Mangalore / (0.4 msft)

For Video please click : Provident Sunworth

Mysore road / Bengaluru / (6.0 msft)

Thannisandra Road / Bengaluru / (0.7 msft)

For Video please click: Provident Welworth City

Doddaballapur Rd, Bengaluru (3.5 msft) / Completed

Pudupakkam / Chennai / (2.2 msft)/ Completed

Please click on the links for the YouTube videos

Projects portfolio of Provident

Ongoing
20%; 21.29 msft
sft

Upcoming
ng
23%; 24.53 msft

Out of 60 projects, 28 projects are in Joint Development (A+B+C)

La Bank
Land
57%; 61.73
61. msft

Property Breakdown

FSI Cost of Land for Upcoming and Land bank is Rs. 109 psft

Land portfolio

0.14

Mumbai

20.48
6.75
24.35

17.60

6.75

Puravankara*
Provident
Saleable Area

Puravankara*

Provident

27.23

Colombo

Total

Mysore

Mangalore

Pune

1.89

Kochi
-

0.70

Kolkata

Hyderabad

3.06

Chennai

Coimbatore

21.44

6.51

12.17

18.68

7.18

14.11

21.29

0.42

0.59

2.43

0.24

4.84

12.77

(A)

Completed Ongoing

Bengaluru

Region

Developable area breakup

2.48

47.37

49.85

3.54

58.19

61.73

2.00

0.20

4.23

0.93

3.85

0.56

4.66

45.30

(C)

Land Assets

Total

11.33

75.86

87.19

13.97

93.58

107.55

2.00

0.20

4.23

0.93

0.42

6.62

2.99

7.36

16.55

66.25

(A)+(B)+(C)

Note: * Includes JVs and other subsidiaries

2.34

16.32

18.66

3.25

21.28

24.53

2.18

7.12

7.05

8.18

(B)

Upcoming

in millions sq. ft.

Land Assets across various established micro-markets

Ongoing
12.77
4.84
0.24
2.43
0.59
0.42
21.29

Upcoming
8.18
7.05
7.12
2.18
24.53

60%

Ongoing

Ongoing
14.11
7.18
21.29

Puravankara

Puravankara
Provident
Total

Mangalore

34%

13%

By entity
Upcoming

Kochi

33%

Note: : Based on Developable Area in msft

Bengaluru
Chennai
Kochi
Coimbatore
Hyderabad
Mangalore
Total

Hyderabad

Coimbatore

29%

Chennai

23%

2%

Bengaluru

29%

1%

11%

3%

9%

By geography

Upcoming
21.28
3.25
24.53

Provident

87%

66%

6%

Residential
Commercial
Total

Ongoing
20.70
0.59
21.29

94%

97%

Residential

By segment

Ongoing

Upcoming

Ongoing and Upcoming Development

Upcoming
23.01
1.52
24.53

Commercial

Ongoing

Upcoming

FY12

FY13

FY14

1,313

FY12

FY13

FY14

1,284

FY15

1,463

FY15

1,691

FY11

1,184

FY12

1,349

FY13

1,786

Gross Debt (INR crores) *

EBITDA (INR crores)

FY14

FY15

1,695 1,780

EBITDA margin (%)

FY12

FY13

PBT (INR crores)

FY11

146

196

24% 24%

356
29%

1,900

FY15

12%

155

2,173 2,261

PBT margin (%)

FY14

19%

243

FY11 FY12 FY13 FY14 FY15

1,576 1,687

Net Worth (INR crores)

0%
FY15

100

150

200

250

30%

40%

300

50

FY14

31%

408

50%

60%

10%
FY13

37%

480

100
FY12

49% 48%

397

350

400

20%

FY11

281

61%

595

70%

Profit Before Tax (INR Crores)

200

300

400

500

600

700

EBITDA (INR Crores)

Note:
Income, profit and ratios have been disclosed including prior period income, if any.
* Debt excludes OCDs and finance lease.

FY11

515

764

1,117

Cash Collections (INR crores)

FY11

600

816

1,248

Revenues (INR crores)

Summary of Financial Performance

0%

5%

10%

15%

20%

25%

30%

FY12

136

17%

FY15

10%

133

Q3FY16

10
PAT

33

PAT margin (%)

FY14

Collections

367

Q3FY15

Revenue

379 363

160
12%

305

FY13

19%

PAT (INR crores)

FY11

118

20%

243

Q3 FY16 (INR crores)

50

100

150

200

250

300

Profit After Tax (INR Crores)

0%

5%

10%

15%

20%

25%

Area Information

10

Notes:
1. Launch area of entire project
2. Represents area completed based on receipt of Occupancy Certificate or such other equivalent permission

28.04

(2.98)

28.43

(3.87)

4.26

(3.31)

1.12

28.43

24.01

23.74

(3.18)

Less: Completed during the period 2

7.28

28.04

FY15

Closing Area

5.80

Add: Launches/Revisions during the period 1

23.74

FY14

(2.23)

21.12

Opening Area

FY13

Less : Exit from Keppel Magus- Kolkata Project

FY12

(numbers in millions sq. ft.)

Area Under Development Snapshot

21.29

(2.83)

0.11

24.01

11

9MFY16

in millions sq. ft.

Marine Drive, Kochi

OMR, Chennai
Sanjay Nagar, Bengaluru
Sarjapur Road, Bengaluru
Marine Drive, Kochi
Kakkanad, Kochi

Oceana

Swanlake

Atria Platina

Skywood

Grandbay

Eternity

Midtown Residences

10

Welworth City

Sunworth I

14

15

Pudupakkam, Chennai

100%

100%

100%

100%

100%

60%

73%

75%

100%

100%

100%

62%

100%

100%

1.34

0.36

0.36

15.46

1.41

3.46

1.88

0.10

0.19

0.34

0.96

0.51

1.24

0.09

1.17

0.27

0.41

344

344

11,752

1,440

3,360

1,830

230

600

265

730

42

729

96

249

849

1,332

Balance collection due from completed projects on units sold till date Rs.202 crores.

344

344

11,856

1,440

3,360

1,830

306

600

265

730

70

729

96

100%
100%

2.09

Units

2.

0.36

0.36

15.78

1.41

3.46

1.88

0.18

0.27

0.45

0.96

0.51

1.24

0.14

1.17

0.27

249

849

100%

Msft

0.36

0.36

15.46

1.41

3.46

1.88

0.10

0.19

0.34

0.96

0.51

1.24

0.09

1.17

0.27

0.41

1.34

2.09

Msft

Puravankara's
Share Area
Developable Area Launched

The Company also holds inventory of 0.08 msft under Properties Held for sale as on the reporting date.

Total Nearing Completion - (B)

Cosmo City - II

1.34
0.41

1,332

Units

Msft

2.09

JD / JV Share
for Developer

Total
Flats

Developable
Area

1.

Notes:

16

Provident

NEARING COMPLETION

Total Completed - (A)

Cosmo City I

13

Pudupakkam, Chennai
Doddaballapur Rd,
Bengaluru
Mysore Road, Bengaluru

OMR, Chennai

Primus

Provident

Hosur Road, Bengaluru

Gainz

11

12

COMMERCIAL

Mallasandra, Bengaluru

High Crest

K.R. Puram, Bengaluru

Mallasandra, Bengaluru

Highlands

Location

Yelahanka, Bengaluru

Project

Venezia

Puravankara

COMPLETED

S.No.
Nos

1.22

1.18

3.20

1.86

0.04

0.11

0.33

0.72

0.43

1.19

0.07

0.87

0.18

0.25

29

29

0.03

0.03

10,633 13.70

1,201

3,117

1,812

222

448

223

704

36

561

62

157

780

2.06

Msft

8%

8%

89%

83%

93%

99%

37%

59%

96%

75%

84%

96%

81%

75%

66%

60%

91%

99%

315

315

1,119

239

243

18

152

42

26

168

34

92

69

22

Nos

On Area Launched
Sold Cumulative

1,310

Current Project Status 31 December 2015

0.33

0.33

1.76

0.23

0.26

0.02

0.06

0.08

0.01

0.24

0.08

0.05

0.02

0.30

0.09

0.16

0.12

0.03

Mn sft

Inventory

12

92%

92%

11%

17%

7%

1%

63%

41%

4%

25%

16%

4%

19%

25%

34%

40%

9%

1%

Project

Hennur Road, Bengaluru

Hosur Road, Bengaluru
Kammanahalli, Bengaluru
Medavakkam, Chennai
Medavakkam, Chennai
Medavakkam, Chennai
Trichy Road, Coimbatore
Trichy Road, Coimbatore

Palm Beach

Westend

Sound of Water

Windermere I

Windermere - II

Windermere - III

Bluemont

Amaiti

Whitehall

Skydale

10

11

12

0.57

Off Magadi Main Road,

Bengaluru

The Tree

Sunworth II

16

17

Total Under Construction (C )

Mysore Road, Bengaluru

13.78

1.33

0.42
0.58

Selvapuram, Coimbatore

Green Park

Derebail, Mangalore

Skyworth

14

15

0.65

0.49

Harmony

Thannisandra Road,
Bengaluru

Sarjapur Road, Bengaluru

0.40

0.57

0.81

0.28

0.94

1.63

0.55

1.12

1.93

0.44

9,617

1,344

560

560

324

548

314

192

342

486

84

728

1,036

207

735

1,171

326

660

Units

Msft

1.08

Total
Flats

Developable
Area

13

Provident

Magadi Road, Bengaluru

Sunflower

Sarjapur Road, Bengaluru

CV Raman Nagar, Bengaluru

Seasons

Location

Puravankara

UNDER CONSTRUCTION

S.No.

100%

70%

70%

73%

68%

100%

100%

100%

100%

100%

100%

100%

58%

78%

70%

70%

60%

JD / JV Share
for Developer

11.52

1.33

0.40

0.41

0.30

0.44

0.49

0.40

0.57

0.81

0.28

0.94

1.63

0.32

0.88

1.36

0.31

0.65

Msft

8,346

1,344

388

392

237

370

314

192

630

486

84

728

1,036

120

576

825

228

396

Units

11.52

1.33

0.40

0.41

0.30

0.44

0.49

0.40

0.57

0.81

0.28

0.94

1.63

0.32

0.88

1.36

0.31

0.65

Msft

Puravankara's
Share Area
Developable Area Launched

4,898

668

176

138

70

354

162

116

150

408

19

393

895

30

418

515

126

260

Nos

6.86

0.64

0.18

0.12

0.09

0.42

0.25

0.24

0.24

0.68

0.02

0.58

1.36

0.09

0.61

0.74

0.18

0.41

Msft

60%

48%

44%

30%

28%

95%

50%

60%

43%

84%

7%

62%

84%

29%

70%

54%

57%

63%

Sold Cumulative

3,448

676

212

254

167

16

152

76

480

78

65

335

141

90

158

310

102

136

Nos

On Area Launched

Current Project Status 31 December 2015 (contd.)

4.66

0.69

0.22

0.29

0.21

0.02

0.24

0.16

0.33

0.13

0.26

0.36

0.27

0.23

0.27

0.62

0.13

0.24

Mn sft

Inventory

13

40%

52%

56%

70%

72%

5%

50%

40%

57%

16%

93%

38%

16%

71%

30%

46%

43%

37%

Project

Highlands III

Windermere IV

Moonreach II

21.30

Total Ongoing - (B) + (C) + (D)+ (E)

0.59

0.59

Kondapur, Hyderabad

6.57

3.28

0.24

1.28

0.79

0.47

0.14

0.36

15,070

5,109

3,168

121

840

491

288

20

181

Units

Msft

Total Commercial - (E)

Summit

Puravankara

Mysore Road, Bengaluru

Airport-Seaport Rd, Kochi

Medavakkam, Chennai

Total - Phases to be launched (D)

COMMERCIAL

Sunworth

Amaiti II

Provident

Trichy Road, Coimbatore

Coronation Square

Mallasandra, Bengaluru

Kotnur, Bengaluru

Evoq

Guindy, Chennai

Location

Puravankara

PHASES TO BE LAUNCHED

S.No.

Total
Flats

Developable
Area

50%

100%

100%

100%

100%

100%

71%

100%

JD / JV Share
for Developer

18.69

0.29

0.29

6.52

3.28

0.24

1.28

0.79

0.47

0.10

0.36

Msft

13,793

5,103

3,168

121

840

491

288

14

181

Units

12.17

0.29

0.29

Msft

Puravankara's
Share Area
Developable Area Launched

4,927

Nos

7.05

0.16

0.16

Msft

58%

54%

54%

0%

0%

0%

0%

0%

0%

0%

0%

Sold Cumulative

8,866

5,103

3,168

121

840

491

288

14

181

Nos

On Area Launched

Current Project Status 31 December 2015 (contd.)

5.12

0.13

0.13

Mn sft

Inventory

14

42%

46%

46%

0%

0%

0%

0%

0%

0%

0%

0%

1.
2.

Bengaluru
0.96 msft; 705
units

Notes: Charts based on area in msft

Ready to move in includes- projects nearing completion

Chennai
0.71 msft;
501 units

Kochi
0.42 msft; 228
units

Ready to move in Inventory By Region

Provident
0.84 msft; 815
units

15

Puravankara
1.25 msft; 619
units

Ready to move in Inventory - By Entity

Geographic break up of Inventory Status- Q3 FY16

Pune
Chennai

Lalbagh

Bellandur

Marine Drive

Keshavnagar

Evoq

Notes:
1.
2.
3.
4.
5.
6.

Kochi

Mallasandra

Chennai

Thirumazhsai

Hosur Road

Developable and Saleable Areas are tentative and is subject to approval from authorities
Expected Launch dates are subject to change
Launch dates are in relation to financial year April - March
The area mentioned above form part of upcoming / land bank / ongoing
All the projects are at different stages of approval
Shivarampally Hyderabad launched in Feb-2016 Provident Kenworth

17.52

3.54

3.81

2.18

7.99

0.36

2.00

2.91

0.55

0.23

1.94

Msft

Developable Area

Grand- Total

Residential

Residential

Residential

Residential

Residential

Residential

Residential

Residential

Residential

Development Type

9.53

Joint Development

Joint Venture

Joint Development

Own

Joint Venture

Joint Venture

Own

Joint Development

Joint Development

Model

Development

Provident - Total

Bengaluru

Hyderabad

Shivarampally

Provident

Puravankara -Total

Bengaluru

Bengaluru

Bengaluru

Puravankara

City

Location

S. No

Immediate Launches - Schedule

70%

25%

73%

100%

32%

50%

100%

55%

87.50%

PPL Share in JD

9.84

5.02

2.48

0.95

1.59

4.82

0.36

0.64

1.46

0.55

0.12

1.69

Msft

Area

Saleable

Q3FY17

Q2FY17

Q4FY16

Q2FY17

Q4FY16

Q4FY17

Q3FY17

Q2FY17

Q2FY17

16

Expected Launch Date

Sales

17

0.35

6027

Dec-15

Dec-14

143

-3

146

19

25

44

59

42

102

Q2FY16

0.50

5938

479

-28

508

65

32

97

334

76

411

Rs. Crores Rs. Crores

Q1FY16
Realisation trend

791

-70%

-71%

-2%

-47%

-87%

-39%

-80%

-71%

-71%

-20%

-54%

-82%

-45%

-75%

Q3FY16

0.33

5,339

3,898

2,690

3,101

5,747

4,853

5,339

Rs.psft

Dec-15*

3,983

3,212

3,693

5,588

5,198

5,511

Rs.psft

Dec-14

5200

5400

5600

5800

6000

6200

-2%

-16%

-16%

3%

-7%

-3%

4800
Q4FY15
area sold

0.25

6031

247

-35

826

172

90

262

482

82

564

Nos.

Dec-14

Quarter Ended
Sale Realization

0.00
Q3FY15

5511

1.01

0.96

0.33

-3

250

50

88

138

62

50

112

Nos.

Dec-15

Sale Value

5000

Q2FY15

5400

0.96

-0.05

-0.01

-67%

-70%

-4%

-46%

-83%

-41%

-74%

Units Sold

0.20

0.40

0.60

0.80

1.00

1.20

1.01

0.16

0.05

Ongoing Projects
0.33

0.10

0.09

Completed & Nearing Completion

Grand Total
Share of Revenue attributable to
landlord under Revenue Sharing
arrangement
Group Economic Interest

0.26

0.60

0.10

Ongoing Projects
0.14

0.15

0.09

Completed & Nearing Completion

Provident

0.75

msft

msft
0.19

Puravankara

Dec-14

Dec-15

Area Sold

Notes:
*Area sold, units sold and sales values are net of cancellations.
Of the total sales:- 0.31msft (220 units) with sales value of Rs 142 Crs agreements pending executions as on 31-Dec-2015.

Area Sold

Based on Bookings

Sales Q3 FY16, 31 December 2015

18

Realization of PPL

0.95

-0.02
2.57

-0.13

Notes:
*Area sold, units sold and sales values are net of cancellations.

Group Economic Interest

Share of Revenue attributable to

landlord under Revenue Sharing
arrangement

2.70

0.49

0.13

Ongoing Projects
0.97

0.23

0.31

Completed & Nearing Completion

Grand Total

0.72

0.44

1.55

0.42

Ongoing Projects

Provident

0.43

0.11

Completed & Nearing Completion

msft

msft
1.98

Dec-14

Dec-15

Area Sold

0.53

Puravankara

Based on Bookings

827

-64%

819

-8

139

-73%

289

428

-38%
34%

334

65

399

Nos.

Dec-15

-74%

-74%

-74%

1,996

-89

2,085

500

212

712

1,127

246

1,373

Nos.

Dec-14

Units Sold

Sales Nine Months ended FY16

-60%

-72%

36%

-40%

-70%

-74%

-71%

%
Dec-14

438

-8

446

55

82

137

245

64

309

1,272

-71

1,343

192

74

266

868

209

1,077

Rs. Crores Rs. Crores

Dec-15

Sale Value

-67%

-71%

11%

-49%

-72%

-69%

-71%

4,104

2,654

3,089

5,960

5,717

5,908

Rs.psft

Dec-15*

3,935

3,223

3,706

5,594

4,902

5,445

Rs.psft

Dec-14

7%

17%

8%

19

4%

-18%

-17%

Sale Realization

9 months ended

Provident 43%
0.14 msft

Q3 FY16 By Entity

Sales Breakup

Puravankara
57% 0.19 msft
Chennai 16%
0.05 msft

Coimbatore 9%
0.03 msft

Kochi 13%
0.04 msft

Mangalore 1%
0.01 msft

Q3 FY16 By Geography

20

Bengaluru 61%
0.20 msft

Cash Flows

21

1,025

Not Launched

626

703

1,329

1,329

703

444

1,146

1,146

1,328

859

2,187

2,187

288

Provident

Total

Rs. crores

93

1,650

2,804

4,455

4,548

520

87

1,187

1,697

2,884

2,971

180

2,837

3,794

6,811
6,631

1,228

Note:
1.
Includes debtors and unbilled amount of Rs. 577crores
2. Value of inventory has been arrived based on current selling rates
3. Balance cost to go is based on estimates and subject to review on periodic basis
4. Contingencies provided for escalation in prices of cement, steel and other cost related to construction of properties
5. Above numbers in point 1, 2, 3 & 4 pertains to only current ongoing / completed projects and does not include projects under upcoming and land bank

93

2,621

Commercial

3,646

3,739

Launched

(D)

Residential

Surplus (A) + (B) (C) (D) 5

Contingencies 4

87

484

Not Launched

Commercial

1,738
1,254

Launched

1,825

Residential

Balance cost to go 3

180

1,509

Not Launched

Commercial

2,935

4,625
4,444

939

Puravankara

Launched

(C)

(B)

Inventory 2

Residential

(A)

Balance collections from sold units 1

Cash Flow Summary

22

Operating Surplus

53.88

7.19

(136.88)

2.19

(51.52)

(57.67)

(29.87)

(61.14)

(31.43)

43.96

1.59

(44.58)

(64.20)

151.16

(386.36)

(11.48)

(53.48)

(28.37)

(293.03)

537.52

54.40

343.12
140.00

Q2 FY16

Note: Numbers have been regrouped and does not strictly confirm to the presentation under audited AS 3 Cash Flow format

Interest Income

Add

(72.53)

(233.84)

Less
Interest Cost

Land Payments including advances &

deposits*

353.06

(1,310.19)

Project Surplus

(59.75)

Income Tax Paid

C=A-B

(358.00)

(231.86)

Admin, Selling & Marketing Expenses

Total Expenses

(7.64)

(117.15)

Employee Cost

(257.79)

(901.43)

Expenses
Construction Cost incurred

328.13

1,663.25

38.74

Total Receipts

328.13
-

Q1 FY16

1,462.95
161.56

FY 2015

Receipts
Collection from Sale of Flats
Advance recd for sale of land
Equity Redemption and Dividend from
Associates

Cash Flow Statement

(48.32)

1.73

(15.68)

(60.46)

26.09

(279.01)

(8.15)

(47.59)

(24.77)

(198.50)

305.10

305.10
-

Q3 FY16

23

(141.24)

5.51

(111.79)

(182.33)

147.37

(1,023.37)

(27.27)

(162.21)

(84.57)

(749.32)

1,170.74

54.40

976.35
140.00

9M FY16

Rs. crores

Total from Financing Activity

211.76

Closing Cash and Bank Balances

133.27

211.76

(78.49)

61.13

100.74

133.27

(32.53)

(66.13)

(64.34)

(5.41)

3.63

(10.37)

(2.10)

0.10

(8.37)

Q2 FY16

Note: Numbers have been regrouped and does not strictly confirm to the presentation under audited AS 3 Cash Flow format
* Excludes land payment of Rs. 96 Cr for Thirumazhisai, Chennai Land received as OCDs.

165.50

Opening Cash and Bank Balances

46.25

34.01

(53.26)
-

0.05

2.74

Dividend including DDT

Debentures (Drawal/Repayments)*
Loan to Associates/SubsidiariesInflow/(Repayment)
Advance to Sobha Aviation

61.08

Share capital (including premium)

Loan (Drawal/Repayments)

Financing Activity
84.53

(2.74)

(41.64)

Total from Investing Activity

0.05

(7.09)

G=D+E+F Net Operating Surplus

Investment in Mutual Funds

Net investment in bank deposits and margin
monies

(2.79)

(34.55)

Q1 FY 16

Investment in Subsidiaries/Associates

Purchase of Fixed Assets

Investment Activity

FY 2015

Cash Flow Statement (Contd)

149.68

100.74

48.94

96.63

96.63

0.63

1.96

0.34

(1.67)

Q3 FY16

149.68

211.76

(62.08)

91.64

(64.34)

(5.41)

0.05

161.34

(12.48)

(0.09)

0.44

(12.83)

24

9M FY16

Rs. crores

Income Statement Analysis

25

(B)
(C)

Land Cost Recognized

Construction Costs Recognised 2

(B)
(C)

(D)

Inventory Value

Land Cost

Construction Costs 3

1,365

3,177

566

4,625

483

Puravankara

49

170

11

230

Puravankara

750

1,450

159

2,187

172

Provident

17

75

101

Provident

14

20

Purva Star

10

(5)

Others

2,115

4,627

725

6,812

655

Total

81

254

21

356

Total

Rs. Crores

26

Note:
1.
Revenue recognised represents revenue from sale of properties
2. Construction costs have been arrived based on estimates and is subject to revision
3. Others represents income from other subsidiaries net of inter-company transactions
4. Unrecognised revenues / land and construction costs / inventory value pertains to only current ongoing / completed projects and does not include projects under upcoming and
land bank

Surplus (A) + (B) (C) - (D)

(A)

Revenue from sold units

Unrecognised as at 31/12/2015

Surplus (A) (B) (C)

(A)

Revenue Recognised

Recognised in Q3 FY16 (from projects)

Income Statement Summary

71

Profit After Tax

Note:
1.
Eliminations represents inter-company transactions

9%

10%

margins (%)

margins (%)

30%

YoY growth (%)

-8%

87

Profit Before Tax

YoY growth (%)

-9%

832

YoY growth (%)

Total Revenues

Puravankara

3%

margins (%)

9MFY16

-82%

YoY growth (%)

Profit After Tax

120%

YoY growth (%)

5%

11

Profit Before Tax

margins (%)

-17%

237

Puravankara

YoY growth (%)

Total Revenues

Q3FY16

Result Highlights

5%

80%

18

8%

67%

25

27%

333

Provident

2%

0%

3%

0%

38%

102

Provident

-3%

NA

-4

-4%

NA

-6

1%

158

Starworth

-1%

NA

-2%

NA

-1

5%

45

Starworth

-29

-19

-84

Other Subsidiaries and

Eliminations

-21

Other Subsidiaries and

Eliminations

5%

-50%

56

7%

-32%

87

-3%

1,239

Consolidated

3%

-71%

10

4%

60%

16

-4%

363

Consolidated

Rs. crores

27

Basic (Rs)
Diluted (Rs)

Earnings per share (Nominal value Rs 5 per share)

Profit before tax and share of profit/(loss) in associates, net

Share of profit/(loss) in associates, net
Profit before tax
Tax expense
Current tax
Excess/short tax of earlier years
Deferred tax
Profit after tax and before prior period items
Prior period income (net of tax expense)
Minority Interest
Net profit for the quarter

Expenses
Material and contract cost
Land cost
Decrease/(increase) in inventory of properties under development and
properties held for sale
Employee benefits expense
Finance expense, net
Depreciation and amortization
Other expenses
Total

Income
Revenue from operations
Revenue from projects
Other operating revenues
Other income
Total

2
(27)
(0)
35
(2)

6
0
0
10
(1)

1.38
1.38

33

10
0
10

17
(0)
16

31
56
4
55
368

25
59
4
48
347

10

(26)

(22)

0.40
0.40

224
24

375
4
1
379

Q3FY15

210
23

358
5
1
363

Q3FY16

23

0.99
0.99

12
(2)
20
3

30
(0)
30

28
63
4
53
396

(140)

284
104

423
2
1
426

Q2FY16

133

5.60
5.60

54
(27)
(4)
132
1

160
(5)
155

117
224
15
232
1,531

(115)

889
169

1,664
14
13
1,691

FY15

Rs. crores

Consolidated Statement of Profit and Loss for the quarter

ended 31 December 2015

28

Profit before tax and share of profit/(loss) in associates, net

Share of profit/(loss) in associates, net
Profit before tax
Tax expense
Current tax
Excess/short tax of earlier years
Deferred tax
Profit after tax and before prior period items
Prior period income (net of tax expense)
Minority Interest
Net profit for the quarter
Earnings per share (Nominal value Rs 5 per share)
Basic (Rs)
Diluted (Rs)

Expenses
Material and contract cost
Land cost
Decrease/(increase) in inventory of properties under development and
properties held for sale
Employee benefits expense
Finance expense, net
Depreciation and amortization
Other expenses
Total

Income
Revenue from operations
Revenue from projects
Other operating revenues
Other income
Total

4.74
4.74

2.37
2.37

43
(27)
(2)
114
(2)

35
0
(3)
54
2

112

133
(5)
129

86
0
86

(113)
87
169
11
173
1,148

(383)
85
177
12
164
1,153

56

651
169

1,258
11
13
1,281

9M FY15

753
347

1,227
10
2
1,239

9M FY16

5.60
5.60

133

54
(27)
(4)
132
1

160
(5)
155

(115)
117
224
15
232
1,531

889
169

1,664
14
13
1,691

FY15

Rs. crores

Consolidated Statement of Profit and Loss for the 9M FY16

29

1.98
3%
8%

EV/Sales

ROE %

ROCE %

1.88
1.48

9MFY16

Cap Employed /Net worth

Interest Coverage Ratio

Working Capital Ratio (X)

7%
5%
36%
NA

PBT Margin

PAT Margin

Effective Tax Rate

Dividend Payout Ratio

33%

15%

8%

9%

24%

FY 2015

1.64

2.55

FY 2015

1.75

1.79

0.45

3.82

0.69

0.79

FY 2015

10%

6%

1.79

0.65

11.09

FY 2015

33%

35%

12%

19%

37%

FY 2014

2.02

4.16

FY 2014

2.11

1.78

0.44

3.17

0.70

0.78

FY 2014

12%

7%

2.39

0.74

9.95

FY 2014

13%

32%

19%

29%

48%

FY 2013

1.94

7.10

FY 2013

2.57

1.94

0.48

2.61

0.82

0.94

FY 2013

16%

13%

2.80

1.02

7.97

FY 2013

Note:
Income, profit and ratios have been disclosed including prior period income, if any
Dividend Payout ratio is including Dividend Distribution Tax
Debt/Equity above do not include OCDs.

22%

9MFY16

EBITDA Margin

Margin / Ratios (%)

1.37

0.45

Debt/Capital Employed

Working Capital to Sales

4.82

Net Debt/EBITDA

2.18

0.77

Net Debt/Equity

Current Ratio

0.84

Debt/Equity

9MFY16

0.64

Price /BV

Solvency Ratios (X)

19.88

9MFY16

Price/Earnings

Valuation Matrix (X)

Key Financial Indicators

Headcount

Shares Outstanding (Cr)

Net Current Assets

Cash and Cash Equivalents

Fixed Assets

Gross Debt

Reserves and Surplus

Share Capital

Balance Sheet (INR crs)

Cash EPS

Book Value

EPS (Diluted)

Per Share (Rs.)

Net Profit

EBITDA

Revenues

Growth Ratio (%)

Profit after Tax

Profit before Tax

EBITDA from Operations

Total Income

Income Statement (INR crs)

1,033

23.72

2,271

158

122

1,941

2,198

119

9MFY16

4.58

97.68

2.4

9MFY16

-50%

-9%

-3%

9MFY16

56

86

277

1239

9MFY16

1,259

23.72

2,806

223

124

1,780

2,142

119

FY 2015

6.22

95.32

5.6

FY 2015

-17%

-15%

29%

FY 2015

133

155

408

1691

FY 2015

1,135

23.72

2,330

174

92

1,695

2,055

119

FY 2014

7.11

91.65

6.86

FY 2014

-34%

-19%

5%

FY 2014

160

244

480

1,313

FY 2014

30

1,016

21.34

1,554

233

87

1,786

1,793

107

FY 2013

11.74

89.03

11.41

FY 2013

79%

50%

53%

FY 2013

243

356

595

1,248

FY 2013

Balance Sheet and Statement of Capital

Employed

31

1,920

5,454

1,824

11

Short-term provisions

Total

46

918

Other current liabilities

5,163

1,036

5,454

3,902

4,190

Total

153

266

Other current assets

32

5,163

271

251

Short-term loans and advances

223

438

509

2,308

1,261

12

293

757

69

124

2015

March

158

322

526

2,667

1,263

17

379

10

684

51

122

2015

December

Rs. crores

Cash and bank balances

Trade receivables

Properties held for sale

335

Trade payables

310

Properties under development

432

656

Short-term borrowings

Current Assets
Current investments

1,078

1,217

Other non-current assets

Current Liabilities

11

10

Long-term provisions

Other long-term liabilities

1,065

Long-term loans and advances

1,203

Properties held for development

Long-term borrowings

2,261

2,317

Non-current investments
Deferred tax assets (net)

2,142

2,198

Non-Current Liabilities

Reserves and surplus

119

Fixed assets

119

Share capital

2015

2015

Assets
Non-Current Assets

March

December

Shareholders' Funds

Equity and Liabilities

Balance Sheet as of 31 December 2015

Note:
1.
Presentation has been derived based on audited financial statement
2. Figures have been regrouped / re-arranged in the application of funds under land and projects
3. OCDs above represent the Chennai land equity transaction.

4,354

Total

1,028

4,354

2,317
96
1,941

Cash and cash equivalents

(1,100)

2,594
73
526
127
948

51
684
70
222

119
2,198

31-Dec-15

3,168
158

Less: Other Current liabilities and Long Term provisions

Properties under development - Ongoing Projects

Properties under development - Nearing completion Projects
Properties held for sale
Fixed, Intangible Assets and Capital work in progress
Trade Receivables and other current assets

Projects

Investments
Properties held for development
Advances for land contracts
Land Deposits

Land

Application of Funds

Total

Equity
Reserves and Surplus
Optionally Convertible Debentures
Total Debt

Sources of Funds

Statement of Capital Employed

2,723
223
4,040

100%

(1,129)

2,241
67
509
124
910

1,094

73%
3%

24%

4,040

100%

69
757
82
185

1,780

2,261

53%
2%
45%

119
2,142

31-Mar-15

33

100%

67%
6%

27%

100%

56%
0%
44%

Rs. crores

Debt

34

158

1,783
12.28%
2,317
0.77

Net debt

Cost of Debt

Net Worth

Net Debt / Equity Ratio

Debt is rated as BBB (Outlook Positive ) by ICRA

The above debt does not include Rs. 13.93 cr Finance lease..
Gross Debt includes Rs 259 crores funded by Promoter.
Debt /NW do not include OCDs worth Rs. 96 crs received for Chennai Land transaction

1,941

46

Repayments during the period

Less: Cash and Cash Equivalents

143

Additions during the period

Closing Balance

1,844

Q3 FY16

Opening Balance

in Rs. Cr

Over Drafts at interest rate of

14.18%, Rs. 153 Cr , 8%

Term Loans - Subsidiaries /

Associates at interest rate of
12.46%, Rs. 412 Cr, 21%

0.76

2,307

12.39%

1,743

101

1,844

98

101

1,841

Q2 FY16

Debt Structure December 2015

0.69

2,261

12.62%

1,557

223

1,780

FY 2015

0.70

2,174

13.40%

1,522

174

1,696

FY 2014

0.82

1,900

14.85%

1,553

233

1,786

FY 2013

Term Loans/Construction Finance at

interest rate of 12.26%, Rs. 1347 Cr,
69%

Others- Rs. 29 Cr, 2%

35

Shareholding Pattern

36

Reliance Life Insurance

College Retirement Equities Fund

Atyant Capital

General Insurance Corporation

HSBC

Axis Mutual Fund

Life Insurance Corporation

GHI

Reliance AMC

Insurance and Bodies Corporate

FIIs

Notes
1. Promoter Shares are unencumbered
2. FIIs are included in Others

Promoters
75%

Mutual Funds

Key Shareholders

FPIs
3%

Mutual Funds
6%

DIIs
1%

Others
15%

Shareholding Pattern as on 31 December 2015

37

May-15

23.7

23.7
1,498
89.8
57.4

Number of shares (in Cr)

Market Capitalisation (Rs. Cr)

52-week high

52-week low

Source: BSE as on December 31, 2015

Graph rebased to 100.

-22%

2%

% Change QoQ

1,471

62

Jun-15

63

Puravankara

Apr-15

Price on BSE

Mar-15

30-Sep-15

Feb-15

31-Dec-15

Jan-15

As on 31st December 2015

60
Dec-14

70

80

90

100

110

120

Aug-15

1,879

23.7

28%

79

30-Jun-15

Sensex

Jul-15

Oct-15

1,471

23.7

-27%

62

31-Mar-15

BSE Realty

Sep-15

2,012

23.7

-17%

85

38

Dec-15

31-Dec-14

Nov-15

Relative to BSE Realty Index and Sensex during December 31, 2014 to December 31, 2015

Stock Movement

 Bachelors degree in Civil Engineering and an MBA from the Goa

Institute of Management
Over 20 years of experience in Real Estate

Chief Development Officer

Jackbastian Kaitan Nazareth

Experience of over 40 years in the real estate development, construction

and finance sector
Associated with the company since inception and responsible for finance
and construction function

Joint Managing Director

Nani R. Choksey

Bachelors degree in Business Administration from Virginia Tech

Masters degree in Business Administration from Willamette University in
Salem, Oregon
Head of Operations and Business in Bangalore

Managing Director

Ashish Puravankara

Over 40 years of experience in real estate industry

Former president of the International Real Estate Federation, Indian
Chapter, Paris

Chairman

Ravi Puravankara

Executive team

39

Management Diploma from Asian Institute of Management, Manila

Over 33 years of experience in marketing and advertising

Independent Director

Pradeep Guha

Bachelors degree in Commerce and Law

Over 37 years of experience in banking and finance

Independent Director

R.V.S. Rao

Non-Executive team

Dedicated and experienced management team

committed to best practices of corporate governance

Note: Map not to scale

Bengaluru location map

Sl. No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

Immediate Launches

Current Projects

Project Name
Highlands/High Crest, Mallasandra
Mid-Town, KR Puram
Seasons, CV Raman Nagar
Sunflower, Magadi Road
Skywood, Sarjapur Road
Whitehall, Sarjapur Road
Harmony, Thannisandra Road
Welworth City, Doddaballapur Road
Sunworth, Mysore Road
Gainz, Hosur Road
Skydale, Haralur
Mallasandra II
Kanakapura
UM Kaval
Coronation Square, JP Nagar
Kanchnayanakahalli
Mylasandra
Palm Beach, Hennur Road
Westend, Hosur Road
The Tree by Provident

40

Note: Map not to scale

Chennai location map

Swan Lake, OMR

Windermere, Medavakkam
Primus, OMR
Moneto, Guindy
Pudupakkam

2
3
4
5
6

Immediate Launches

Current Projects

Cosmo City, Pudupakkam

Sl. No. Project Name

41

Note: Map not to scale

Kochi location map

Eternity, Kakkanad
Moonreach, Airport-Seaport Road

3
4

42

Grandbay, Marine Drive

Current Projects

Oceana, Marine Drive

Sl. No. Project Name

Note: Map not to scale

Coimbatore location map

43

GreenPark, Selvapuram

Current Projects

Bluemont/Amaiti, Trichy Road

Sl. No. Project Name

Skyworth, Derebail

Note: Map not to scale

Sl. No. Project Name

Mangalore location map

Sl. No.

Current Projects

Summit, Kondapur

Project Name

Hyderabad location map

44

Project Pictures

45

Project Pictures

46

Project Pictures

Project Pictures

48

Developer of the Year Residential, CMO Asia Awards for Retail Excellence 2013

Marketer of the Year Puravankara Projects Limited, CMO Asia Awards for Retail Excellence 2013

Provident Housing Limited - NDTV Property Awards for Innovation Leader in Budget Housing 2014

Puravankara Projects Fastest Growing Developer of the Year. - 2015

Puravankara Projects ASIAN CSR LEADERSHIP AWARD 2015 - Best Financial & Corporate Reporting - 2015

Puravankara Projects Global Real Estate Brand Awards for Marketer of the Year - 2015

Corporate awards

Pathfinders Award for the Most Enterprising CXO - JACKBASTIAN KAITAN NAZARETH at the 6th Realty Plus Awards, 2014.
Most Enterprising CXO, 2013 at Real Estate Awards for Retail Excellence

Jackbastian Nazareth -

BRAND ACHIEVERS AWARD -Entrepreneur of the year of the Year (Real Estate) 2015
CONSTRUCTION WEEK INDIA 2015 - Real Estate Person of the Year 2015
Young Achievers Award , 6th Realty Plus Awards, 2014.

Ashish Puravankara

BRAND ACHIEVERS AWARD - Lifetime achievement Award for Excellence 2015

Scroll of Honour award at the Realty Plus Conclave & Excellence Awards 2014 ( South) for Ravi Puravankara
Lifetime Achievers Award for Outstanding Contribution to Real Estate at Realty Excellence Awards, 2012 and CMO Asia Awards for Retail Excellence 2013

Ravi Puravankara

Management awards

Popular Choice Affordable Housing of the Year, 2013 at Real Estate Awards for Retail Excellence.

Sunworth - 7th REALTY PLUS EXCELLENCE AWARDS for Affordable Housing Project of the Year - Provident Sunworth, 2015.
Welworth City - Indian Concrete Institute Awards - Best Concrete Structure Appreciation Award -2015.

Awards for Provident projects

Awarded Residential Project of the Year at the Construction Week Awards, 2014
Awarded the "Best Ornamental Garden - 2014" by Govt. of Karnataka, Horticulture department 2014
CMO Asia Awards Residential Property of the Year, 2013

Purva Venezia - Received Themed Project of the Year at the 6th Realty Plus Excellence Award, 2014

Purva Evoq - 7th REALTY PLUS EXCELLENCE AWARDS for Residential Property of the Year 2015

Indian Concrete Institute(ICI), Kochi and UltraTech Cement Limited Best Residential Building - 2015

Purva Grand Bay - ESTRADE REAL ESTATE AWARDS 2015 - Best Project in a Non- Metro 2015

Awards for Puravankara projects

Awards and achievements

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at its sole discretion without any obligation to any person.

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The Company reserves the right to modify, alter or revise the structure / content of this presentation

forward-looking statements that may be made from time to time by or on behalf of the Company.

statements, including its reports to shareholders. The Company does not undertake to update any

for projects. The Company may, from time to time, make additional written and oral forward looking

employees; war, terrorism, and other circumstances that could disrupt supply, delivery, or demand

marketplace and stimulate customer demand for its projects; and availability of key executives and

continued competitive pressures in the marketplace; the ability of the Company to deliver to the

effect of competitive and economic factors, and the Companys reaction to those factors, on

uncertainties, and actual results may differ. Risks and uncertainties include without limitation the

This presentation contains certain forward-looking statements. These statements involve risks and

Disclaimer

Please contact: Mr. Hari Ramakrishnan, Deputy Chief Financial Officer

Email: hariramky@puravankara.com; Tel: +91-80-4343 9794

Puravankara Projects Limited

130/1, Ulsoor Road,
Bengaluru - 560042
Tel: 080-25599000/43439999
Corporate Identification Number : L45200KA1986PLC051571
Website:- www.puravankara.com

THANK YOU

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