Post on 17-Oct-2014
Indiabulls Group
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Indiabulls Groupp
l hTotal Group Networth – Rs. 16,844 Cr.
Total Group PAT for FY 10‐11 – Rs. 994 Cr.
Total Group Capital Expenditure – Rs. 6,200 Cr. (US $ 1.4 bn.) capex in
FY 10‐11 Planned capex of Rs 29 000 (US $ 6 5 bn ) by FY 2014‐15FY 10 11. Planned capex of Rs. 29,000 (US $ 6.5 bn.) by FY 2014 15.
Focus on Execution and on ground results translating into profits.
F i i j I di b ll G 385 MT f S l• For its ongoing projects Indiabulls Group consumers 385 MT of Steel,
550 MT of Cement & 1,700 CUM of RMC on daily basis.
Creatin Val e for Shareholders Di id d t f R 323 C i FY10 11Creating Value for Shareholders – Dividend payout of Rs. 323 Cr. in FY10‐11.
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Journey of Indiabulls GroupIndiabulls Power announced demerger
y p
Indiabulls Power
d
from Real Estate
Indiabulls Real Estate demerged from
Financial
started
Indiabulls Financial
ServicesIndiabulls Real Estate
started
Indiabullsstarted as a securities brokerage
Services started as a
lending business
company
2000 2004 2005 2006 2007 2010
Independent companies with independent management teams
All companies were spin offs from the existing company, with all benefits flowing to existing shareholders
2000 2004 2005 2006 2007 2010
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All companies were spin offs from the existing company, with all benefits flowing to existing shareholders
Indiabulls Group Companiesp p
Indiabulls Group
Indiabulls Financial Services Indiabulls Real Estate Indiabulls Power
Developing 5400 MW of Power Plants
National developer with Focus on key regions of M b i NCR (D lhi) d
(IBFSL)
Finance business
(IBREL) (IBPOW)
• Total capex of US$6.1 billion in next 4 years
• Full financial closure achieved
Mumbai, NCR (Delhi) and Chennai
• 62 million sqf currently under
• Leading non‐banking finance company
• Pan – India network with 300,000 customers
Development
Total Group Networth : Rs. 16,844 Crore (US $ 3.8 billion)
Separate Listed Companies (There is no Group Holding Company)
p , ( $ )
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p p ( p g p y)
* Networth as on 31, March 2011
Strategy and Focusgy
Consolidation – aim to be among top 3 players in existing businesses
within next 3 years
No new products – focus on gaining size and scale in existing core areas
No capital market fund raising – all businesses are well funded to
achieve growth and size
Goal‐ FY 2013/14 – target of US $ 1.5 billion in cash generation from the
3 companies (Finance, Real Estate and Power)
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Indiabulls Financial Services (IBFSL)
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Leading Finance Company
Asset Composition
g p y
21%
6.5% 1.5%
Asset Composition
21%The company enjoys a
long‐term rating of AA+
Focus on long term, low
risk home loan business
Mortgages comprise71%
Mortgages comprise
71% of the total asset
book
Mortgages Corporate LoansCommercial Vehicles Business Loans to SME
Total Assets Under Management : Rs. 20,788 Crore (US $ 4.6 billion)
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Business Highlights g g
2,510 40%Steady Earnings GrowthAUM and Net NPA Movement
20 788 3 00%
2,005
1,625
,
30%2,000
12,535
15,18917,069
19,82520,788 3.00%
20,000
751 9%
19% 20%
1,000
11,023
0.90% 0.90%0.63% 0.53%
0 38% 0 37%
10,000
177307
0%0
FY 08‐09 FY 09‐10 FY 10‐11R (R C ) PAT (R C ) PAT M i
0.38% 0.37%
0.00%0
FY 09‐10 Q1 10‐11 Q2 10‐11 Q3 10‐11 Q4 10‐11 Q1 11‐12
Rev. (Rs. Cr.) PAT (Rs. Cr.) PAT Margin
Safe and stable asset growth with steadily decreasing Non Performing Assets (NPAs).
AUM (Rs Cr) Net NPA
Improved liability profile combined with greater operational efficiency leading to higher PAT margins.
Assets Under Management grew by 30% CAGR while PAT grew by 62% CAGR over last 3 years.
Return on Equity ‐ 17%
Total Provisions are 4 2 times the regulatory requirement
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Total Provisions are 4.2 times the regulatory requirement.
Home Loans: Convenience & Service
• The company continues to expand its branch network and now has over 160 branches
• The branches are set‐up in accessible locations with the aim of nurturing long‐term customer relationships
Wi h i i i d h h b i l i i i d i i
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• With customer convenience in mind, the company has been continuously improving its product proposition
Improving Liability Profile
Total Borrowings Contribution in
p g y
FY 10‐11(Rs. Cr.) Incremental
BorrowingMar 11 Mar 10 FY 10-11
20%
FY 10 11
Bank Loans 13,371 3,790 84%
NCD 3,903 810 27%70%
10%
CP 2,045 3,250 -11%
Total 19,319 7,850 100%Bank CP Bond
The company’s long‐term debt rating has been upgraded to AA+
The company has achieved its stated objective of decreasing the dependence on short term money toThe company has achieved its stated objective of decreasing the dependence on short‐term money to
under 15% of its total borrowing
Amongst its lenders, the company now counts 57 strong relationships: 21 PSU banks, 13 Private and o gst ts e de s, t e co pa y o cou ts 5 st o g e at o s ps: SU ba s, 3 ate a dForeign banks and 23 other Mutual Funds, Provident Funds, Pension Funds and Insurance Companies
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Indiabulls Real Estate (IBREL)
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Quality and on‐time Deliveryy y
Delivery and Execution Track Record Delivered a record 3.3 million SF developed space valued at $1.75 billion (within 4 years of inception) Fastest and largest delivery in value terms by any(within 4 years of inception). Fastest and largest delivery in value terms by any Indian real estate developer in the same time period.Focus on Super Metros
90%+ portfolio is in Mumbai, Delhi (NCR) and Chennai markets.
Focus on clear title projects
$ 900 million in lands bought through government auctions$ 900 million in lands bought through government auctions.
Focus on Execution With 62 million sqft area under development; capex of $ 1.5 billion over next 2 q p pyears (with all financing in place)Focus on Results
C l ti $ 5 billi i j t d G S l b 2014 15Cumulative $ 5 billion in projected Gross Sales by 2014‐15.
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Focus on Super‐Metrosp
Recently acquired land inNCR (Delhi)
$ 1 bn
JaipurA
Recently acquired land in government auction in Mumbai for $450 million
More than 90% of our projects (by value) are in super‐metro cities –
Ahmedabad
Baroda Indore
JodhpurAgra
Kanpur
Mumbai Metro Region, National Capital Region (Delhi) and Chennai
Mumbai R i
a oda
Vi h kRegion$ 7.5 bn Hyderabad
Vishakapatnam
Chennai$ 510 mn
Madurai
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Focus on Delivery
Area Under Development (to be developed in 5 years)
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Area (million sf) Residential Commercial Total
Area Under Development 53.74 8.9 62.64
Area Under Construction 15 4 1 64 17 04
Additional Development Potential
A ( i A ) R id ti l C i l SEZ T t l
Area Under Construction 15.4 1.64 17.04
Area ( in Acres) Residential Commercial SEZ Total
Land Area 526.64 46 2,551 3123
• Break up of 62.64 msft Area Under Development (AUD)
5.5 msft in the AUD under Super Premium Category (Expected Average Sales Price of Rs. 25,000 per sft.)
29.66 msft in AUD under the Premium Category (Expected Average Sales Price of Rs. 5,000 per sft.)
27.48 msft in AUD under the Mid‐Income Category (Expected Average Sales Price of Rs. 2,500 per sft.)
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Business Highlights g g
FY 09-10 FY 10-11FY 09-10 FY 10-11
Area Sold 3 msft 6 msft
Sales Value Rs. 1,405 Cr. Rs. 4,873 Cr.Rs. 1,405 Cr. Rs. 4,873 Cr.
Revenues Rs. 129 Cr. Rs. 1,432 Cr.
Profit After Tax Rs. 6.75 Cr. Rs. 177 Cr.
Focus on execution and timely delivery of projects has helped recognize revenues from previous sales
translating into robust profits.
Sound Financial Health ‐ Assigned A+ rating for long term debt and PR1+ (highest possible) for its short
term facilities.
Revenue pipeline – sold over 5 94 million sq ft having sales value of Rs 4 837 Crore in FY 10‐11Revenue pipeline – sold over 5.94 million sq. ft. having sales value of Rs. 4,837 Crore in FY 10‐11.
Recurrent cashflows ‐ Leased over 1.6 million sq. ft.
Low Net Gearing – 0.17x , Debt not expected to increase in FY 11‐12.
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IBREL Delivered Projectsj
One Indiabulls Center – Tower 1 One Indiabulls Center – Tower 2
One Indiabulls Center – Winner “Best Commercial Property” Award by CNBC
Marquee Tenants ‐Morgan Stanley, Bloomberg, Bain, Marsh‐Mclennan, Deloitte, Reliance, q g y g
Birla, NDTV , Delloite, Yes Bank.
US $ 120 million in annualized rents on full occupancy
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Innovation
Path‐Breaking 90/10 Finance g /Scheme for Residential Launch
Innovative 90/10 finance scheme ‐ buyer pays 10% y p ydown payment on booking and no payments till time of possession
IBREL gets 80% from banks during construction andIBREL gets 80% from banks during construction and pays interest to banks
Customer pays another 10% at the time of possession
Removed entire execution risk for buyers
IBREL confident on execution
Record sales of $ 670 million in 30 days
Fundamentally changed real estate sector
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Bespoke ultra luxury residencesp y
Already pre‐launched a super‐premium residential project in heart of Mumbaiof Mumbai
Land (11 acres) acquired in government auction for $450 million in August 2010
Architectural plans ready and already submitted for approvals
Pre launch done in Oct 2010, within 2 months of purchase
Testimony to IBREL’s strong execution skills
Asset churning and capital deployment model
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Indiabulls Power (IBPOW)
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Indiabulls Power (IBPOW) Focus on Delivery and ExecutionPlan ‐Developing 5 400 MW across India
Indiabulls Power (IBPOW) Focus on Delivery and Execution
Developing 5,400 MW across India.
Financial closure achieved for entire 5,400 MW.
ExecutionExecution ‐
US $6.1 billion capex over next 4 years for 5,400 MW. Phase I (2,700 MW) – construction in full swing (~4,000 workers on site)
Debt drawn down (including Letter of Credits) as at June 2011– Rs 1,566 crores in Amravati Phase I and Rs 1,385 crores in Nashik Phase I.
F b h Ph ( )For both Phases (entire 5,400 MW) ‐
Land, Water and Coal clearances in place
No External Risk/No Quality Risk As work given to reputed contractors/suppliers. Indiabulls Power is largest private sector client of BHEL
Results Annual run‐rate 20 billion units of electricity generation to be achieved by March 13 and 40
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Annual run rate 20 billion units of electricity generation to be achieved by March 13 and 40 billion units of annual run‐rate to be achieved by March 14
ExecutionExecution ‐ construction is in full swing with ~4,000 people working on the sites.
Suppliers ‐Work given to reputed suppliers and contractorsSuppliers ‐Work given to reputed suppliers and contractors
Vendor / Service Provider Scope / Work
1 BHEL Boiler Turbine Generator (BTG)1 BHEL Boiler Turbine Generator (BTG)
2 Shapoorji Pallonji BTG – Civil
3 Shapoorji Pallonji BTG ‐ Structural
k l l f l l4 Gannon Dunkerley Balance of Plant – Civil
5 Gammon India Limited Chimney
6 Paharpur Cooling Towers Cooling Tower
7 L&T Coal Handling Plant
8 Areva Power Transformer
9 ABB 400 KV Switchyard
Delivery – First unit to be commissioned in May 2012
Tariffs – 1200 MW already tied up on a long term 25 year Power Purchase Agreement with Maharashtra y p g y gState utility at Rs 3.26/unit. Another 950 MW from Nashik plant approved by MSEDCL at Rs. 3.42/unit.
Cash flows– Assuming Rs 1/unit margin (difference between sales price and cost of generation), cash generation from average of 25 billion units produced in FY 13‐14 would be US$ 600 million by March‐2014.
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Amravati Power Plant – 2700 MW
Construction work in full swing..
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Amravati Power Plant – 2700 MW
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Amravati Power Plant – 2700 MW
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Nashik Power Plant – 2700 MW
Construction work in full swing..
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Nashik Power Plant – 2700 MW
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Thank You
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