Analyst and Investor Presentation Jan 2015

from

those

suggested

by

the

forward-looking

statements.

Important

forward-looking statements to reflect subsequent events or circumstances.

taken based on such statements and undertakes no obligation to publicly update these

Kolte-Patil Developers Limited (KPDL) will not be in any way responsible for any action

tax laws, import duties, litigation and labour relations.

structure, significant changes in political and economic environment in India and overseas,

developments that could affect the Companys operations include changes in the industry

materially

number of risks, uncertainties and other factors that could cause actual results to differ

meaning of applicable laws and regulations. These forward-looking statements involve a

Certain statements in this communication may be forward looking statements within the

KPDL Overview / Key Milestones

K

Management Team
M
Key Philosophies & Financial Highlights
K

Performance Review & Growth Outlook

P
A
Annexure

1
2
3

4
5

with diverse industry experience

ce

of approved
d
land bank

of sales
ales outlook over FY15-17 1
100%
00
0%
% increase
in

of co
cons
construction
nstr
nstr
truc
uction
uc
on
= 42 Lords
cricket grounds

Dividend
Divi
Di
vide
vi
dend
de
nd Pa
Payo
Payout
yout
yo
ut of A
Ann
Annual
nnua
nn
ual PA
PATT

Deca
Decades
cades of
presence
presen
ence

Highestt rated
High
te residential
ted
sidential pl
si
player

Resi
Residential
side
si
dent
de
ntia
nt
iall real
ia
estate player
pl
in
Pu
Pune

nett debt/equity
ne
debt/equ
quit
qu
ity
it
y
lowest in
industry

0.7

0.9

2.1

4.1

4.9

6.2

Cumulative Area Delivered (msf.)

6.6

7.5

10.4

60-65%

FY2012

FY2013

2.6

FY2014

2.1

FY2015E

2.5

Strong sales momentum depicted over the

last 3 years with new area sales of 7.6 msf.

2.9

Right
Product

Right
Positioning

Price Premium

Right
Place

Delivering the right Product, at the right Place, with the right Positioning

Affordable Homes:
< Rs. 50 Lacs

MIG Township /
Non-Township:
Rs. 50 Lacs to 1 Cr

HIG: Rs. 1 to 1.5 Cr

Luxury: > Rs. 1.5 Cr

Million sq. ft

Procurement

4.3 msf.

~4 msf.

5 msf.

Capacity

QA / QC

requirements from conventional methodology

Investment of Rs. 68 crore in Aluform technology resulted in reduced slab cycles and labor

Construction outsourced - multiple partners depending on product type

Other salient features

Engg/Design

Area Delivery
Last 3 Years Next 12 months

PMC

In house
capabilities

202.8

FY2012

2.9

FY2011

Rs. Crore

Million sq. ft

FY2013

FY2013

2.6

FY2014

2.1

Sales Volume

FY2012

249.2

727.5

Operating income

9M
FY2015

1.9

FY2014

764.2

FY2012

1,100

FY2011

86.2

Rs. Crore
Rs. Crore

FY2013

FY2013

1,250

FY2014

1,150

Sales value

FY2012

67.7

192.1

EBITDA

9M
FY2015

1,077

FY2014

220.8

FY2012

3,850

FY2011

47.9

Rs. Crore
Rs./sq. ft

FY2013

107.4

FY2013

4,735

FY2014

5,412

92.0

FY2014

9M
FY2015

5,813

Price realization

FY2012

34.1

PAT

10

0.1
FY12

708

FY11

6.8%

9.6%

ROE

4.8%
FY12

7.0%

Networth (Rs. Crore)

FY11

700

0.1

FY14

806

0.2

ROCE

FY13

15.0%

20.9%

FY14

11.4%

18.7%

Net Debt / Equity (x)

FY13

712

0.1
600

650

700

750

0.3

0.2

800

0.4

0.2

850

0.5

bank

facilities

and

non-convertible

uncertainties

Balancing

growth

aspirations

higher capital efficiencies

with

market

Judicious structuring of every project delivering

debentures

term

Assigned CRISIL A+/Stable' rating to the long-

0.5x over FY2015-17

Net debt/equity to be maintained between 0.2-

Fast track debt payments before maturity

Conservative to debt financing

11

Stated dividend
policy: 15-25%
payout ratio

ETR of 36.2% in
FY14

Fast track debt

repayment

41.2

-119.8

-47.6

177.1

31.6

FY11

Growth capital for

land acquisition or
other corporate
purposes

Surplus
Generated

Healthy cash generation expected to continue as land parcels move to launches /

revenue recognition stage

Focus on cash
flows at each
project SPV

Debt
Repayment

46.2

111.8

69.6

Closing cash and cash equivalents

Taxation and
Dividend

-13.0

-96.7

98.0

Net cash from financing activities

Free Cash
Flows

2.7

-45.8

15.4

208.1

-23.6

-117.0

Net cash from/(used In) operating activities

41.2

FY12

46.2

FY13

Net cash from investing activities

111.8

FY14

Opening cash and cash equivalents

Cash Flow Snapshot (in Rs. cr)

13

The RBIs recent rate cut signals turn of the economic cycle and bodes well for the sector going forward. We expect
to see a significant uptick in our revenue and profit trajectory going forward as we continue to execute to the
strategic vision we have laid out.

We are excited as we enter into 2015 with a new, revamped way of engaging our customers and channel partners
with the launch of our mobile application initiatives like these will help us improve the level of transparency and
engagement and take our connect with the customers and channel partners to a new level. Going forward, one
should expect to see more such consumer-friendly initiatives from our end.

we commenced the execution of our Link Palace project on Khar-Linking road in December, in line with
In Mumbai,
Mu
our guidance. Further, we are happy to announce three more wins in the Western suburbs of Mumbai in Khar (W),
Malad (W) and Goregaon (W), taking the total tally to six redevelopment projects in Mumbai with a saleable area of
Ma
~0.6 million sft. and establishing ourselves as one of the largest listed real estate developers in the society
~0.
redevelopment
space. We will continue to expand in Mumbai through suitable redevelopment projects.
de

Projects launched earlier this year in Pune continue to perform well, especially Three Jewels at Kondhwa where sales
Proj
have been strong and we have been able to achieve significant price appreciation within a short time period,
testimony to the success of our pan-Maharashtra marketing strategy. In Bengaluru, the sales momentum has been
test
stable and we have been able to effect the sale of our Alyssa project (~40,000 sft.) on Richmond road during the
stab
quarter which was a big positive.
quar

We continue to sustain our sales momentum recording an 46% YoY increase in our pre-sales to 0.64 msf. We sold 439
unit
units during the quarter almost five units a day. This takes our pre-sales to 1.9 msf. in the 9M FY15, higher by 38% in
volu
volume terms and 48% in value terms to Rs. 1,077 crore. We have also seen a healthy ~30% sequential uptick in our
collections this quarter to Rs. 260 crore which is highly encouraging.
coll

Commenting on the performance for Q3 & 9M FY2015, Mr. Sujay Kalele, CEO, Kolte-Patil Developers Ltd. said,

launched projects (Jazz, Kondhwa, Bavdhan, Giga Residency)

EBITDA up 15% YoY (up 54% QoQ) to Rs. 67 crore

Introduced a new, revamped way of engaging customers and channel

partners in a more efficient, transparent manner through the launch of our

14

PAT down 3% YoY (up 55% QoQ) to Rs. 20 crore

To see gradual recovery going forward driven by contribution from recently

benchmarks, for our residential project at Wakad in Pune

mobile app

Gradual uptick in revenues to Rs. 220 crore, up 17% YoY and 40% QoQ

Collaborated with Talwalkars Club for a leisure club, at par with global

Financial Performance Q3 FY15

30 crore closed on 16 Jan 2015

significant price appreciation since intial launch

Launch of 24K project, Atria (0.2 msf.), in Aundh in Q3 FY15

First tranche of Rs. 40 crore closed on 11 Dec 2014 and second tranche of Rs.

to bring down cost of borrowing going forward

Completed maiden NCD issue during the quarter amounting to Rs. 70 crore -

NCD Issue

(KPDL share)

Strong sales momentum at Three Jewels, Katraj-Kondhwa, continues with

Pune Update

terms to Rs. 1,077 crore; collections strong at Rs. 652 cr

9M FY15 pre-sales at 1.9 msf., higher by 38% in volume terms and 48% in value

total tally in Mumbai to six projects encompassing ~0.6 msf. saleable area

In early January 2015, added three further projects in western suburbs taking

APR for Mumbai at Rs. 21,671/sft.

Healthy pick up in collections which stood at Rs. 260 crore

Tenants have been vacated at Link Palace and execution has commenced

APR for Pune at Rs. 6,034/sft.

Mumbai Update

36 crore during the quarter

New sales value of Rs. 390 crore

Average price realization (APR) at Rs. 6,090/sft.

Sold commercial project, Alyssa, on Richmond road for a consideration of Rs.

Bengaluru Update

Recorded 0.64msf. of new sales bookings aggregating to 439 units

New Sales Bookings / Collections

1,711

1,569

1,579

2,205

0.61
0.60

0.64

15

Q3 FY14 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15

0.44

0.78

Sales Volume, million sq. ft

Q3 FY14 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15

1,881

Revenue, Rs. mn
397

484
418

661

3,434

3,442

3,896

Q3 FY14 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15

2,528

4,069

Sales value, Rs. mn

Q3 FY14 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15

573

EBITDA, Rs. mn

130

192
127

198

2,426
1,912

2,007

2,599

Q3 FY14 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15

2,303

Total Collections, Rs. mn

Q3 FY13 Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15

204

PAT, Rs. mn

16

0%

20%

40%

60%

80%

100%

msf.

Q3 FY2013

40%

36%

14%

0.50

40%

26%

16%

49%

13%

13%

0.44

0%

8%

17%

47%

22%

17%

0.45

3%

3%

8%

41%

23%

21%

0.44

3%

9%

4%

50%

12%
16%
8%
13%

0.79

62%

11%

9%
13%

0.61
5%

63%

12%

8%
14%

3%

0.60

KPDL
share, 74%

Partner
share, 26%

Split by share Q3 FY15 (%)

0%
0%
0%
Q1 FY2014
Q2 FY2014
Q3 FY2014
Q4 FY2014
Q1 FY2015
Q2 FY2015
MIG - non-township projects
MIG - Township
HIG
Luxury
Others

3%

2%

13%

Q4 FY2013
Affordable

4%

5%

1%

0.48

0%
Q3 FY2015

63%

13%
6%
2%
15%

0.64

17

36.8%
-3.0%

30.4%
56.0

9.7
20.4

30.0%
63.4
28.7%
51.4
33.0

13.3
19.8
9.0%
2.61

EBITDA Margin (%)

EBIT

EBIT Margin (%)

Profit before tax

Profit after tax

Minority Interest

Adjusted PAT after minority interest

PAT margin (%)

Basic EPS

9.8%

30.1

2.69

10.8%

12.1%

45.9

29.8%

13.3%

15.4%

57.3

66.1

EBITDA

18.9%

132.2

157.1

Total Expenses

17.2%

188.1

220.5

Total operating income

YoY (%)

Q3 FY2014

Q3 FY2015

P&L Snapshot (Rs. crore)

18

24.1%
-34.6%

30.5%
176.1

22.8
79.0

29.2%
148.8
27.8%
123.8
80.0

28.3
51.7
9.7%
6.58

EBITDA Margin (%)

EBIT

EBIT Margin (%)

Profit before tax

Profit after tax

Minority Interest

Adjusted PAT after minority interest

PAT margin (%)

Basic EPS

-21.4%

101.8

10.42

13.3%

-18.8%

152.6

29.7%

-15.5%

-13.7%

181.2

156.3

EBITDA

-7.3%

417.0

386.4

Total Expenses

-9.7%

593.1

535.3

Total operating income

YoY (%)

9M FY2014

9M FY2015

P&L Snapshot (Rs. crore)

343
27
40
159
1,326
0.19
7.6%
15.6%

Gross debt

Cash & cash equivalents

Current Investments

Net debt**

Inventories

Net debt/Equity (x)**

ROE (%)

ROCE (%)

31st March, 2014

806
337
70
15
136
1,269
0.17
11.4%
18.7%

30th September, 2014

832
338
57
32
133
1,306
0.16
7.9%
15.3%

19

Note - ROE = PAT/Networth; ROCE = EBIT/Capital Employed; ROE, ROCE are calculated on a TTM basis

**Net debt figure given here excludes debentures of Rs. 116 crore (Rs. 34 crore in Tuscan and Rs. 82 crore in Kondhwa)

849

31st December, 2014

Net Worth

Balance Sheet Snapshot (Rs. crore)

21

0.1-0.3x

4,321

APR (Rs./sft.)

Net debt-equity (x)

3,500

8.1

Planned

Sales Value (Rs. crore)

Sales Volume (msf.)

Parameter

0.1x

4,602

3,500

7.6

Actual

+6.5%

-6.0%

Variance

In line with target

Achieved sales target on account of higher price

realization

Target not achieved on account of approval

delays in FY14

Remarks

22

FY15-17
Target

FY12-14
Actuals

4,602

FY15-17
Target

6,000
6,0

Average Price
Realization (Rs./sft.)

FY12-14
Actuals

7.6

12

Sales volumes (msf.)

FY12-14
Actuals

3,500

FY15-17
Target

7,200
7,

Sales Value (Rs. crore)

23

through technology enablement and people training

Focus on strengthening corporate governance practices and increasing organizational competences

Agreements (DMAs) in Pune and other regions

Leverage strong brand and execution capabilities to enter into Development Management

Focus on reducing finance cost utilizing maiden credit rating (CRISIL A+/Stable)

future cash flow visibility

sanctioned a net debt to equity between 0.2-0.5x approach to remain conservative based on

To support significant volume growth owing to large number of project launches, Board has

In Mumbai, add new projects in the redevelopment space while launching projects won last year

pipeline

Building brand presence in Bengaluru increased contribution through activation of all projects in

Consolidate stronghold in a stable Pune market driven by strong employment and economic drivers

24

FY15

2.5-3.0

FY16

4.0-4.5

Sales volumes (msf.)

FY17

4.5-5.0

1,382

3,207

25

Note These are gross numbers including partners share - ~80-85% will be recognized in KPDL books

Gross Sales Value

Gross Revenue Recognized

Gross Unrecognized Revenue

Strong revenue
visibility

FY12-Q3 FY15 (Rs. crore)

4,589

214

46
43
0
0

Glitterati 24K

City Bay

Green Olive Venture

Kondhwa

Jazz I & II

4,589

880

117

220

48

53

237

474

340

267

673

1,382

279

117

220

23

145

86

50

139

231

Gross Revenue to be
Recognized

26

Note These are gross numbers including partners share - ~80-85% will be recognized in KPDL books

Rs. crore

3,207

329

Downtown - Phase I

Total

254

Margosa Heights I & II

601

218

Tuscan - Phase I & II

Other projects

534

Corolla - Phase I

1,280

(FY12 - Q3 FY15)

(FY12 - Q3 FY15)
1,050

Cumulative Sales Value

Cumulative Revenues
Recognized

Life Republic - Phase I

Projects

8
31
12
18
7
6
1
0
47
157

Corolla - Phase I

Tuscan - Phase I & II

Margosa Heights I & II

Downtown - Phase I

Glitterati 24K

City Bay

Green Olive Venture

Alyssa

Other projects

Total

27

Revenue in Rs. crore

27

Life Republic - Phase I

Projects

158

50

33

15

15

34

220

46

36

75

13

26

KPDL
KPDL
KPDL
Revenue
Revenue
Revenue
Recognized Recognized Recognized
(Q1 FY15) (Q2 FY15) (Q3 FY15)

Alyssa, 16%

Other
projects, 21%

Life Republic
- Phase I, 12%

Corolla Phase I, 3%

Green Olive
Venture , 1%

Tuscan Phase I & II,

6%

City Bay , 4%

Margosa
Heights I & II,
4%
Downtown Phase I, 34%

Revenue recongized in key projects

(% of total income Q3 FY15)

0.7
0.04
0.9
1.6
0.02
0.2
0.2

19.6

Ragga
Alyssa
Mirabilis
Total (Bengaluru Projects)

Link Palace Socieyi

Jai-Vijay Society
Total Mumbai Projects)

Total (Pune + Bengaluru + Mumbai Projects)

29

2.6
0.4
3.6
0.8
0.3
0.3
0.9
1.8
0.5
0.1
0.1
0.04
0.1
0.4
2.3
0.9
0.2
1.4
1.1
17.6

Gross

Life Republic - Phase I

Life Republic - Phase I - R3 Avenue
Corolla - Phase I
Tuscan - Phase I & II
Allura - Phase I
Allura - Phase II (24K Glamore)
Margosa Heights I, II & III
Downtown - Phase I & II
Glitterati 24K
Green Olive Venture
City Centre
Cilantro
City Bay
Giga Residency
Wakad
Jazz I & II
Atria
Kondhwa
Rutu Bavdhan (codename: Stargaze)
Total (Pune Projects)

Projects

66%

100%
100%

100%
100%
70%

45%
45%
37%
51%
75%
75%
50%
51%
100%
60%
60%
50%
100%
100%
100%
100%
100%
100%
62%

KPDL

13.0

0.0
0.2
0.2

0.7
0.0
0.6
1.3

1.2
0.2
1.3
0.4
0.2
0.2
0.5
0.9
0.5
0.1
0.1
0.0
0.1
0.4
2.3
0.9
0.2
1.4
0.7
11.4

KPDL

Saleable Area (msf.)

Khar (W), Mumbai

Ville Parle (E), Mumbai

Hennur Road, Bengaluru

Richmond Road, Bengaluru
Horamavu, Bengaluru

Mohamad Wadi, Pune

Kharadi, Pune
Aundh Annexe, Pune
Hinjewadi, Pune
Hinjewadi, Pune
Wagholi, Pune
Boat Club Road, Pune
Viman Nagar, Pune
Wakad, Pune
Aundh, Pune
Aundh, Pune
Kondhwa, Pune
Bavdhan, Pune

0.64

0.00
0.003
0.00

0.02
0.04
0.07
0.13

0.04
0.02
0.00
0.02
0.04
0.04
0.01
0.00
0.01
0.01
0.01
0.004
0.10
0.02
0.02
0.06
0.03
0.51

Wagholi, Pune
Kharadi, Pune
Undri - NIBM, Pune

0.09

3,896

0
71
71

56
360
337
753

234
113
0
101
177
249
37
23
38
23
96
38
630
146
147
310
168
3,071

543

Sales
Area Sold
value (Rs.
(msf.)
mn.)

Hinjewadi, Pune

Location

6,063

21,671
21,671

3,604
8,281
4,728
5,780

5,256
7,042
5,520
4,653
6,406
7,325
6,228
7,527
4,169
12,629
10,494
6,351
6,954
6,531
5,105
6,668
6,034

5,756

Average
Realization
(Rs./sft.)

2,599

7
18
24

53
360
9
422

180
70
49
111
119
466
14
81
1
17
77
0
139
62
108
156
32
2,152

472

Collections
(Rs. mn.)

Gross Details (including partners share)

30

Life Republic - Phase I

Life Republic - Phase I - R3 Avenue
Corolla - Phase I
Tuscan - Phase I & II
Allura - Phase I
Allura - Phase II (24K Glamore)
Margosa Heights I, II & III
Downtown - Phase I & II
Glitterati 24K
Green Olive Venture
City Centre
Cilantro
City Bay
Giga Residency
Wakad
Jazz I & II
Atria
Kondhwa
Stargaze (renamed Rutu Bavdhan)
Ragga
Alyssa
Mirabilis
Link Palace
Jay Vijay Society
Goa
Total

Projects

2.6
0.4
3.6
0.8
0.3
0.3
0.9
1.8
0.5
0.1
0.1
0.0
0.1
0.4
2.3
0.9
0.2
1.4
1.1
0.7
0.04
0.9
0.02
0.2
0.1
19.6

Gross
45%
45%
37%
51%
75%
75%
51%
51%
100%
60%
60%
50%
100%
100%
100%
100%
100%
100%
62%
100%
100%
70%
100%
100%
73%
66%

KPDL Share

Saleable Area
(msf.)

1.2
0.2
1.3
0.4
0.2
0.2
0.5
0.9
0.5
0.1
0.1
0.0
0.1
0.4
2.3
0.9
0.2
1.4
0.7
0.7
0.0
0.6
0.02
0.2
0.1
13.0

KPDL Share
Hinjewadi, Pune
Hinjewadi, Pune
Wagholi, Pune
Kharadi, Pune
Undri - NIBM, Pune
Undri - NIBM, Pune
Mohamad Wadi, Pune
Kharadi, Pune
Aundh Annexe, Pune
Hinjewadi, Pune
Hinjewadi, Pune
Wagholi, Pune
Boat Club Road, Pune
Viman Nagar, Pune
Wakad, Pune
Aundh, Pune
Aundh, Pune
Kondhwa, Pune
Bavdhan, Pune
Hennur Road, Bengaluru
Richmond Road, Bengaluru
Horamavu, Bengaluru
Khar (W), Mumbai
Ville Parle (E), Mumbai

Location

12,801
6,738
2,674
1,179
1,091
3,396
4,744
2,364
485
284
166
525
640
1,297
1,168
147
2,197
904
1,088
360
752
152
191
28
45,370

3.03
2.07
0.51
0.27
0.23
0.92
0.86
0.47
0.12
0.05
0.05
0.06
0.08
0.20
0.18
0.02
0.45
0.14
0.33
0.04
0.17
0.00
0.01
0.01
10.26

3,253
5,223
4,336
4,686
3,711
5,522
5,009
4,057
5,998
3,603
9,527
8,256
6,526
6,457
6,531
4,912
6,420
3,324
8,281
4,406
34,574
21,102
4,067
4,420

4,221

6,058
2,233
1,401
532
2,938
3,102
2,227
525
198
143
387
196
360
356
108
410
131
627
360
39
74
56
1
33,315

10,851

Average
Sales
Area Sold
Collections
value (Rs. Realization
(msf.)
(Rs. mn.)
mn.)
(Rs./sft.)

Gross Details (including partners share)

6.0
1.8
0.3
0.1
0.2
0.6
0.2
0.1
16.2

Sanjivani Township Phase I

Corolla - Phase III

Glitterati II
Green Olive - Phase II

The Classique

Hosur Road

Jay-Vijay Society

Jumbo Darshan
Total (msf.)

Wagholi, Pune
Aundh, Pune
Hinjewadi, Pune
Kormanagala,
Bengaluru
Bengaluru
Ville Parle (E),
Mumbai
Anderi (E), Mumbai

Urse, Pune

Hinjewadi, Pune

Location

31

*This is the land cost for all phases of a particular project

Note: Pre-sales at Jay-Vijay Society have already commenced

6.9

Saleable Area
(msf.)

Life Republic - Phase II

Projects

100%

100%

100%

100%

37%
100%
60%

50.5%

45%

0.1
8.2

0.2

0.6

0.2

0.7
0.3
0.1

3.0

3.1

KPDL
KPDL Share
Share (%)
(msf.)

NA
5,976

NA

600

130

946
375
25

500

3,400

Land cost
(Rs. mn.)

Launch expected by Q4 FY15

Launch expected by Q4 FY15

Launch expected in FY16

Launch expected in FY16

SEAC approved
Launch expected in FY16
Launch expected in FY16

Launch targeted by Q1 FY16

Received LC in Mar-14
Launch expected in H2 FY15

Approval Status/Expected date of launch

JDA
JDA
JV
Owned

Sadapur, Lonavala

Lohgad, Lonavala

Aundh, Pune

Kalyani Nagar

32

Total

Sale deed

JV

Ghotawade, Pune

Boat Club Road, Pune

JV

Title/MOU/DAPA
/Saledeed/JV

Sanjivani Township, Urse,

Pune Phase II

Project

18.3

0.3

0.6

1.0

0.2

4.0

3.2

9.0

Area
(msf.)

100%

100%

100%

33.30%

33.30%

50%

50.5%

9.4

0.3

0.6

1.0

0.1

1.3

1.6

4.5

Not under approval stage for next one year

Not under approval stage for next one year

Not under approval stage for next one year

At the design drawing level

Target launch of residential project in 2015

Awaiting zone clearance from the Department

of Urban Development

JV with a petroleum company

50.5% profit sharing JV with Sanjivani Remidies, a

Pune based Pharma firm

KPDL KPDL
Share Share Comment
(%)
(msf.)

33

FY2014
764.2
550.5

220.8
28.9%
213.7
28.0%
183.2
116.9
24.9
92.0
12.0%
12.14

P&L Snapshot (Rs. crore)

Total operating income

Total Expenses

EBITDA

EBITDA Margin (%)

EBIT

EBIT Margin (%)

Profit before tax

Profit after tax

Minority Interest

Adjusted PAT after minority interest

PAT margin (%)

Basic EPS

-14.3%

107.4

14.18

14.8%

51.0%

-5.7%

123.9
16.5

-1.7%

186.4

+240 bps

14.8%

186.2
25.6%

+250 bps

15.0%

192.1
26.4%

1.7%

5.0%

727.5
541.3

YoY (%)

FY2013

34

337
70
15
136
1,269
0.17
11.4%
18.7%

Gross debt

Cash & cash equivalents

Current Investments

Net debt**

Inventories

Net debt/Equity (x)**

ROE (%)

ROCE (%)

20.9%

15.0%

0.03

983

21

112

175

717

March 2013

**Net debt figure given here excludes CCDs & NCDs; Please refer to the next slide for a detailed break-up

Note - ROE = PAT/Networth; ROCE = EBIT/Capital Employed; ROE, ROCE are calculated on a TTM basis

806

31st March, 2014

Net Worth

Balance Sheet Snapshot (Rs. crore)

1.0 0.8

0.8
0.5 0.5 0.4
0.5 0.4

0.8

0.6
0.6

0.6

36

9.4
8.9

11.3

9.2

8.5

7.2

5.5

8.1

9.3

Expected delivery of 5 msf. over FY2015-16 including 2.6 msf. at Life Republic

*Based on Liases Foras data

8.6

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
FY12 FY12 FY13 FY13 FY13 FY13 FY14 FY14 FY14 FY14 FY15

10.1

Pune Sales Volumes*

Well-reputed, trusted brand name that has delivered over 10 msf. in Pune and
Bengaluru till date

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
FY12 FY12 FY13 FY13 FY13 FY13 FY14 FY14 FY14 FY14 FY15 FY15 FY15

1.0

KPDL Sales Volumes

37

ICICI Ventures 50%

IL&FS 49%

Kolte-Patil I-Ven Township (Pune) Ltd

Kolte-Patil Real Estate Ltd

38

#Note

Kondhwa, Pune

Kharadi, Pune

Hinjewadi, Pune

Wagholi, Pune

Kharadi, Pune

Mohamad Wadi,
Pune

Location

Profit sharing agreement with ASK with a back-ended promote structure for Kolte-Patil

70%*

ICICI Ventures 37%

Corolla Realty Ltd

Snowflower Properties Pvt Ltd

Portman Holdings 49%

Tuscan Real Estate Pvt. Ltd.

Stake of PE Fund

Portman Holdings 49%

Name of Projects

Bellflower Properties Private Limited

Name of SPV

30.0

41.5

383.0

73.4

12.8

17.0

Area
(acres)

160

198.0

340.0

94.6

67.6

46.4

Land Cost (Rs.

crore)

39

Bengaluru,
7%

Mumbai,
1%
Pune , 92%

8.2

13.0

9.4

18.3

Future
Potential

30.5

53.8

Total

premium housing and townships

markets and ranging from affordable, MIG

Investments in Pune spread across sub-

De-risked project portfolio

16.2

19.6

Ongoing

KPDL saleable area of 30.5 msf.

KPDL share (msf.)

Overall (msf.)

Projects under execution

Forthcoming

40

Streamlining internal processes and

controls to sustain construction quality
across projects and reducing cost
inefficiencies

Efficient legal/liaisoning team enables

faster project turnover on new land
acquisition

Enabled faster execution of projects and

increased delivery capabilities

Setting new benchmarks in terms of high

construction quality

Early adopters of new construction

technology, invested Rs. 68 crore in FY12

Superior construction quality and

delivery capabilities

Improving information disclosure

practices

Stated dividend policy of distributing 1525% of annual profits

Managerial remuneration closely linked

with earnings

Expanded scope of engagement with

Deloitte and KPMG from SPV level to
corporate entity level

Best-in-class corporate
governance practices

Expanding top/middle management

layer to support next level of growth
opportunity

Creating robust knowledge

management mechanisms

Improving process orientation

implementing SAP, defining SOPs

Increasing organizational
competencies

42

Mumbai-Pune corridor has a population of 35.6 million and

GDP of over Rs. 4 trillion

24 SEZs focused on IT, ITES and biotech

End user driven real estate demand

0.5 million students graduate annually from the Oxford of

the East

Demographic shift towards services professional base

38 of Indias 88 functional IT parks are in Pune

Pune is the 2nd largest industrial hub and the 3rd largest IT hub in
India

Population of metropolitan area 5.3 million as per the 2011

census

Pune is the 8th largest city and the 6th largest metropolitan region
in India

PUNE

Maharashtra

43

Retail, Services

South West

Automobiles,
Information Technology

North West

Retail, Hospitality

South East

Retail, Education, Hospitality

Central Business District

Education, Information
Technology, Hospitality

North East

Strong potential and demand growth in North East and West Pune micro markets
Rs. 9,500 crore of new investments in Pune announced by auto majors Tata Motors, Mahindra & Mahindra and Volkswagen

Multi-modal logistics parks

proposed at Talegaon,
North Pune

Transport and
communication center in
Talegaon-Chakan-Pimpri
Chinchwad-KhedRanjangaon

44

1,483 km dedicated rail

freight corridor to be
commissioned by 2016-17

Delhi-Mumbai
Industrial Corridor

Line 1 of 30 kms expected

to be operational by 2018,
project cost of Rs. 6,000
crore

Pune Metro/Monorail
Phase I and II

Project cleared in
November 2013, land
clearance and acquisition
is in process

Proposed airport in
Chakan with capacity for
60 million passengers
annually

Proposed
International Airport

Improved connectivity
between commercial
hubs and residential
suburbs of Pune, proposed
length of 169 km with 90
km already completed

Pune Outer
Ring Road

45

Varun Parwal (Head Corporate Finance & Investor Relations)

Kolte Patil Developers Ltd.,
501, The Capital, BKC, Bandra (E), Mumbai
Tel: +91 8550 996 812
Email: varun.parwal@koltepatil.com

For further information, please contact:

Shiv Muttoo / Varun Divadkar
CDR, India
Tel: +91 22 6645 1207 / 1222
Email: shiv@cdr-india.com / varun@cdr-india.com

The Company also believes in following best-in-class practices across every corporate decision. These include fairness in corporate practices, strong
internal controls, Board constitution with 50% Independent Directors, managerial remuneration closely linked with earnings, maintaining conservative
accounting practices and upholding minority shareholder interest across every decision. The Company has appointed Deloitte and KPMG as statutory
and internal auditors respectively.

Consolidating its leadership position in the Pune real estate market, the Company is expanding in the high demand Bengaluru market, leveraging 19
years of presence in this market. The company has also recently forayed into the Mumbai market where the initial market entry focus will be on low risk
society re-development projects. The Mumbai foray is a long term strategy for the Company which will facilitate margin expansion going forward and
reduce its working capital cycle.

The company has been accredited in the real estate and construction industry with an ISO 9001 (2008 series) certification since May 2002. The company
has also fostered several long-term relationships with major financial institutions like ICICI Ventures and Yatra Capital, development and strategic
partners like Portman Holdings, constructions partners like ANC Holdings (Dubai), real estate funds and individual investors as joint venture partners and
co-investors in future projects. These partnerships are in line with the core strategy of equity led expansion, improve levels of corporate governance,
increase sourcing and execution capabilities, help de-risk large scale project execution and facilitate expansion in newer markets.

Kolte-Patil Developers Ltd. (BSE:532924, NSE: KOLTEPATIL) is a leading Pune-based real estate company incorporated in 1991. Kolte-Patil is a wellreputed, trusted name with a reputation for high quality standards, design uniqueness, transparency and the delivery of projects in a timely manner. The
company has developed and constructed 48 projects including 35 residential complexes, 9 commercial complexes, and 4 information technology
parks covering a saleable area (KPDL share) of over 10 million square feet across Pune and Bengaluru.