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Mahindra Lifespace Developers Ltd. Interim / Quarterly Report 2020
62304_rns_2019-07-26_6e8b99aa-427e-4035-b60d-fa6b77f11285.pdf
Interim / Quarterly Report
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mahlndra LIFESPACES
Mahindra Lifespace Developers Ltd. CIN: L45200MH1999PLC118949
Mahindra Towers, 5th Floor, Or. G. M. Bhosale Marg, Worli, Mumbai 400 018, India
Tel: +91 22 67478600 / 8601 Fax: +91 22 24975084
26th July, 2019
SSE Limited Corporate Services, Piroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Listing: http://I istinq. bseind ia. corn
National Stock Exchange of India Limited Exchange Plaza, Sandra Kurla Complex, Sandra (East) Mumbai - 400 051 Listing: https:www.connect2nse.com/LISTING/
| Security | ISSE | NSE | IlISIN |
|---|---|---|---|
| Equity Shares | I 532313 | MAHLIFE | I INE813A01018I |
Sub:- Intimation under Regulation 30(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SESI LODR").
Dear Sir/Madam,
Pursuant to Regulation 30(2) read with Regulation 46(2)(0) of the SEBI LODR, the Presentation on the Company's profile and financial & operational results for the 1st quarter ended on 30th June, 2019 is enclosed herewith. This will also be hosted on the website of the company.
Request you to take the same on record.
Thanking You
For and on behalf of
Encl: a/ a.
Investor Presentation – Q1 FY20 1
Artist's impression of 'CENTRALIS' @ Pune
- Key Highlights
- Residential Business Update
- Integrated Cities & Industrial Clusters Update
- Financial Update
Key Highlights
The operating highlights from Slide 4 to Slide 24 are for the Company and its subsidiaries / joint ventures / associates engaged in the real estate business (mainly MLDL, MHPL, MBDL, MITL, MRDL, MHDL, MWCDL, MWCJL, MIPCL & MIPPL)
Disclaimer:
The Company has registered its ongoing projects in the applicable jurisdictions / States under the Real Estate (Regulation and Development) Act, 2016 ("RERA"). None of the images, material, projections, details, descriptions, area statements and other information that are mentioned herein should be deemed to be or constitute advertisements, solicitations, marketing, offer for sale, invitation to offer, invitation to acquire, including within the purview of the RERA.
The Company uses carpet areas as per RERA in its customer communication. However, the data in saleable area terms has been referred in this presentation, to enable continuity of information to investors and shall not be construed to be of any relevance to home buyers / customers.
Key Highlights – Q1 FY20
o Achieved sales of 0.22 msft valued at Rs. 120 Crs.
Residential *
o Attained collections of Rs. 234 Crs and handed over 461 units.
o Completed 0.16 msft of development area in Pune.
Integrated Cities & Industrial Clusters
o Leased 9.4 acres for a lease premium of Rs. 25.1 Crs.
- Mahindra World City, Jaipur leased 2.0 acres for Rs. 5.1 Crs.
- Origins, Chennai leased 7.4 acres for Rs. 20.0 Crs.
* All figures correspond to MLDL (including associates) share of residential units and include commercial units that are part of residential developments.
Financial Highlights
All figures in Rs. Crs
| ConsolidatedForMLDL(AsAS)INDper | Q12020 | Q42019 | Q12019 |
|---|---|---|---|
| TotalIncome | 120 | 247 | 176 |
| EBIDTA | 19 | 38 | 43 |
| PAT | 13 | 31 | 27 |
| ConsolidatedForMLDL(AsAS)INDper | Q12020 | FY2019 |
|---|---|---|
| NetDebt | 54- | 66- |
| NetWorth | 1943 | 1930 |
| NetDebtEquityRatio | 003- | 003- |
| CostAverageofDebt | 907% | 908% |
Business Overview
Residential Integrated Cities & Industrial Clusters
| Mid and PremiumResidential | AffordableHousing | Integrated Cities | Industrial Clusters | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Brand: | Brand: | Brand: | Brand: | ||||||||
| DevelopmentFootprint** | 22.13msft | Footprint** | Development | 3.12msft | Gross Area | 4437acres | Gross Area | 626acres | |||
| Completed | Development * | 15.58msft | Completed | Development * | 0.97msft | LeasableArea*** | 3156acres | LeasableArea*** | 427acres | ||
| Ongoing & | Forthcoming Area** | 6.55msft | Ongoing & | Forthcoming Area** | 2.15msft | Leased Area | 1931acres | Leased Area | 30acres | ||
| Future Sales** | Area available for | 4.90msft | Area available forFuture Sales** | 1.73msft | for Leasing | Area available | 1225acres | for Leasing | Area available | 397acres | |
| Entities | EconomicInterest | Ongoing &ForthcomingArea (msft)** | Entities | EconomicInterest | Ongoing &ForthcomingArea (msft)** | Entities | EconomicInterest | LeasableArea (acres)*** | Entities | EconomicInterest | LeasableArea (acres)*** |
| MLDL | 100% | 2.98 | MLDL | 100% | 0.26 | MWCDL | 89% | 1145 | MIPCL | 53.4% | 206 |
| MHPL | 50% | 1.20 | MHDL | 25% | 1.89 | MWCJL | 74% | 2011 | MIPPL | 50% | 221 |
| MBDL | 100% | 0.84 | |||||||||
| MITL | 96.3% | 1.31 | |||||||||
| MRDL | 96.3% | 0.22 |
* Completed Development does not include projects completed by GESCO.
** Data represents estimated saleable area including JD partner's share, wherever applicable.
*** Leasable area is based on management estimates.
Residential Business Update
Sales – Annual Trend
Note: All figures correspond to MLDL (including associates) share of residential units, including commercial units that are part of residential developments. * Based on saleable area including JD partner's share.
Sales – Quarterly Trend
Note: All figures correspond to MLDL (including associates) share of residential units, excluding commercial units that are part of residential developments. Commercial units sales for Q1 FY20 was Nil.
Commercial units sales for Q2, Q3 & Q4 FY19 was Nil and for Q1 FY19 stood at 5 units of 0.001 msft saleable area, worth Rs. 0.95 Crs. # Project under Joint Development (JD).
Value (Rs. Crs)
Price Realisation
Sales - City and Price Segment wise
Q1 FY20 City-wise Sales (Volume)
Q1 FY20 Price Segment-wise Sales (Volume)
Note: Total sales volume considered is 0.22 msft saleable area and total sales value considered is Rs. 120 Crs.
Operating Metrics
Project Portfolio
| Location | Saleable(msft)Area | # | |
|---|---|---|---|
| Ongoing | Forthcoming | LandInventory | |
| MMR** | 078 | 217 | 094 |
| Pune | 050 | 068 | - |
| Nagpur | 084 | - | - |
| NCR* | 041 | 037 | - |
| Bengaluru | 043 | 074 | - |
| Chennai | 059 | 119 | 950 |
| Total | 354 | 516 | 1044 |
Total Completed Development – 16.55*** msft
* NCR includes Delhi, Gurgaon and Faridabad;
** MMR includes Mumbai, Boisar, Palghar, Thane, Kalyan and Alibaug;
*** Does not include projects completed by GESCO.
# Based on saleable area including JD partner's share wherever applicable.
Summary of Ongoing and Forthcoming Projects
All figures in msft
| Region | ProjectName | Company/SPV | TotalDevelopment | LaunchedDevelopment | CompletedDevelopment | OngoingDevelopment | Balance(Tolaunched)be |
|---|---|---|---|---|---|---|---|
| A | B | C | D | = (A-C-D)E | |||
| MMR | Serenes | MLDL | 016 | 006 | - | 006 | 009 |
| Vivante | MLDL | 016 | 016 | - | 016 | - | |
| Roots | MLDL | 014 | 014 | - | 014 | - | |
| Andheri | MLDL | 026 | - | - | - | 026 | |
| Sakinaka# | MLDL | 034 | - | - | - | 034 | |
| HappinestPalghar1 | MHDL | 041 | 041 | - | 041 | - | |
| HappinestPalghar2 | MHDL | 064 | - | - | - | 064 | |
| HappinestKalyan | MHDL | 084 | - | - | - | 084 | |
| Pune | Antheia | MLDL | 163 | 163 | 148 | 016 | - |
| Centralis | MLDL | 034 | 034 | - | 034 | - | |
| NewProject(Tathawade) | MLDL | 068 | - | - | - | 068 | |
| Nagpur | Bloomdale | MBDL | 155 | 155 | 071 | 084 | - |
| NCR | Luminare# | MHPL | 114 | 077 | 037 | 041 | 037 |
| Bengaluru | Windchimes | MHPL | 087 | 087 | 044 | 043 | - |
| NewProject(Kanakpura) | MLDL | 074 | - | - | - | 074 | |
| Chennai | Aqualily | MRDL | 158 | 151 | 135 | 016 | 007 |
| Lakewoods | MITL | 090 | 028 | - | 028 | 062 | |
| MWCChennaiResidential21 | MITL | 041 | - | - | - | 041 | |
| HappinestAvadi | MLDL | 073 | 064 | 048 | 016 | 010 | |
| TOTAL | 5213 | 836 | 482 | 543 | 516 |
Note: Above figures are based on saleable area including JD partner's share wherever applicable.
Project under Joint Development (JD).
Development mix of Ongoing Projects
| Region | Project Name | Location | Segment | Development Mix | Area RangeSaleable (sqft) | IndicativePrices(Rs. Crs) |
|---|---|---|---|---|---|---|
| MMR | Serenes | Alibaug | Luxury | 3, 4 BHK Villas | 3000 -3400 | 3 -3.5 |
| Vivante | Mumbai | Mid-Premium | 1, 2, 2.5 & 3 BHK | 740 -2041 | 1.5 -4 | |
| Roots | Mumbai | Mid-Premium | 1 & 2 BHK | 740 -1239 | 1 -1.5 | |
| Happinest Boisar | Boisar | Affordable | 1 RK,1 & 2 BHK | 369 -762 | 0.13 -0.27 | |
| Happinest Palghar 1 | Palghar | Affordable | 1 RK, 1 & 2 BHK | 234 -812 | 0.08 -0.28 | |
| Pune | Antheia | Pune | Mid-Premium | 1, 2, 2.5, 3 BHK | 724 -1789 | 0.5 -1.5 |
| Centralis | Pune | Mid-Premium | 1 & 2 BHK | 665 -885 | 0.45 -0.70 | |
| Nagpur | Bloomdale | Nagpur | Mid-Premium | 1, 2, 2.5, 3 BHK, RowHouses & Duplex Homes | 739 -2440 | 0.3 -1 |
| NCR | Luminare | Gurgaon | Luxury | 3 & 4 BHK | 2985 -6007 | 3.5 -4.5 |
| Bengaluru | Windchimes | Bengaluru | Mid-Premium | 3, 3.5 & 4 BHK | 1776 -3012 | 1.5 -2.5 |
| Chennai | Aqualily | Chennai | Mid-Premium | 1, 3, 3.5 & 4 BHK | 581 -2228 | 0.25 -1 |
| Lakewoods | Chennai | Mid-Premium | 2 & 3 BHK | 1079 -1478 | 0.45 -0.70 | |
| Happinest Avadi | Chennai | Affordable | 1 & 2 BHK | 395 -677 | 0.1 -0.25 |
Note: Above information is indicative and provides generic information about the project.
Summary of Ongoing Projects
| Launched | PTDArea | SalesPTD | RERA | |||
|---|---|---|---|---|---|---|
| Location | ProjectName | Development* | Sold | Completion**% | Value | Completion |
| (msft) | (msft) | (Rs.Cr) | Date*** | |||
| MMR | TheSerenesI | 006 | 002 | 81% | 138 | Dec-19 |
| Vivante | 016 | 016 | 96% | 264.5 | Oct-19 | |
| Roots | 014 | 009 | 41% | 1141 | Sep-22 | |
| HappinestPalghar1- I | 014 | 012 | 59% | 362 | Dec-20 | |
| HappinestPalghar- II1 | 015 | 014 | 43% | 419 | Sep-21 | |
| HappinestPalghar1- III | 008 | 006 | 35% | 17.7 | Sep-21 | |
| HappinestPalghar1- IV | 004 | 004 | 38% | 11.5 | Dec-21 | |
| Pune | AntheiaIIID | 016 | 009 | 78% | 57.1 | Mar-22 |
| Centralis- Tower1 | 009 | 009 | 18% | 549 | Aug-22 | |
| Centralis- Tower2 | 009 | 007 | 18% | 469 | Aug-22 | |
| Centralis- Tower3 | 009 | 009 | 18% | 54.5 | Mar-22 | |
| Centralis- Tower4 | 007 | 007 | 17% | 44.5 | Mar-22 | |
| Nagpur | BloomdaleIIB | 015 | 015 | 89% | 55.4 | Mar-20 |
| BloomdaleIIIA | 012 | 011 | 95% | 472 | Mar-20 | |
| BloomdaleIIIB | 011 | 007 | 53% | 29.5 | Sep-20 | |
| IIIC-2Bloomdale | 004 | 003 | 47% | 11.5 | Mar-20 | |
| BloomdaleIIID | 007 | 005 | 56% | 19.5 | Sep-21 | |
| BloomdaleIVA | 014 | 000 | 42% | 13 | May-22 | |
| BloomdaleIVB | 014 | 007 | 49% | 286 | Jun-21 | |
| IVCBloomdale | 003 | - | 42% | - | Sep-21 | |
| BloomdaleIVD | 004 | 001 | 45% | 62 | May-20 | |
| NCR | LuminareII# | 041 | 014 | 66% | 1821 | Mar-21 |
| Bengaluru | WindchimesII- TowerIII | 018 | 012 | 88% | 943 | Dec-19 |
| WindchimesII- TowerIV | 025 | 011 | 86% | 890 | Dec-19 | |
| Chennai | AqualilyAptsC2 | 016 | - | 46% | - | NA |
| LakewoodsI | 028 | 012 | 13% | 458 | Mar-22 | |
| HappinestAvadiIV | 006 | 004 | 82% | 138 | Jul-20 | |
| HappinestAvadiV | 010 | 003 | 67% | 8.7 | Dec-20 | |
| Total | 3.54 | 2.07 | 64% | 1,390.6 |
* Based on saleable area including JD partner's share wherever applicable.
** Completion shown is with respect to total estimated project cost which includes land costs and construction related costs.
*** RERA completion dates for the projects are as per the specific phases registered with the authorities.
Project under Joint Development (JD).
Forthcoming Projects
| Segment | Location | NameoftheProject | EstSaleableArea*msft |
|---|---|---|---|
| SubsequentPhasesof | ExistingProjects | ||
| MMR | Serenes | 009 | |
| NCR | Luminare# | 037 | |
| Mid&PremiumResidential | Aqualily | 007 | |
| Chennai | Lakewoods | 062 | |
| AffordableHousing | Chennai | HappinestAvadi | 010 |
| SubsequentTOTALPhases- | ofExisting | Projects | 124 |
| NewProjects | |||
| Sakinaka# | 034 | ||
| MMR | Andheri | 026 | |
| Mid&PremiumResidential | Pune | NewProject(Tathawade) | 068 |
| Bengaluru | NewProject(Kanakpura) | 074 | |
| Chennai | MWCChennaiResidential21 | 041 | |
| HappinestPalghar2 | 064 | ||
| AffordableHousing | MMR | HappinestKalyan | 084 |
| ProjectsTOTAL- New | 391 | ||
| - ForthcomingProjectsTOTAL | 516 |
Project under Joint Development (JD).
* Based on saleable area including JD partner's share wherever applicable.
Balance Inventory in Completed Projects
| Location | Project Name | Company | MLDL Holding | Balance unitsto sell * | Balance areato sell (msft) * |
|---|---|---|---|---|---|
| MMR | Happinest Boisar | MLDL | 100% | 133 | 0.06 |
| Pune | Antheia | MLDL | 100% | 40 | 0.06 |
| Nagpur | Bloomdale | MBDL | 100% | 5 | 0.01 |
| NCR | Luminare # | MHPL | 50% | 25 | 0.07 |
| Bengaluru | Windchimes | MHPL | 50% | 2 | 0.00 |
| Chennai | Aqualily Apts | MRDL | 96% | 85 | 0.09 |
| Chennai | Happinest Avadi | MLDL | 100% | 14 | 0.01 |
| TOTAL | 304 | 0.30 |
Project under Joint Development (JD).
* The numbers of units shown includes JD partner's share of inventory.
Cash Flow Potential
| Particulars | Value | |
|---|---|---|
| (RsCr) | ||
| OngoingCompleted& | Salescompletedinongoingprojects | 1391 |
| Projects | LessAmountcollectedfromsales: | 624 |
| Netbecollectedcompletedsalesamounttoon | 766 | |
| Estimatedsalesfromfinishedgoods&balanceinventoryinongoingprojects# | 1105 | |
| Less:Estimatedconstructionbeongoingprojects**costtospenton | 669 | |
| Cashflowfromongoing | &completedprojects | 1202 |
| SubsequentPhasesof | Estimatedsalespotential# | 778 |
| OngoingProjects | Less:Estimatedconstructioncost** | 398 |
| Cashflowfromfuture | phasesofongoingprojects | 381 |
| TotalEstimatedCashflows* | 1583 |
* Does not include cash flow potential of "New Projects" and "Land Bank".
** Construction costs are based on management estimates.
# Estimated sales value is based on management estimates taking into consideration current price realisation for respective projects.
Integrated Cities & Industrial Clusters Update
Mahindra World City, Chennai – Business Update
Total Area Procured – 1524 acres | Leasable Area – 1145 acres
Dorma Kaba facility in DTA
CapGemini facility in IT SEZ
Mahindra World City, Jaipur – Business Update
** Total Leasable Area of Residential & Social is indicative (assumed at yield of 65%) until finalisation and approval of Master Plan.
*** Includes 25 acres for Evolve.
- Total number of customers: 89 (58 Operational)
- Leased 2 acres during Q1 FY20 ✓ Podar Education Trust (Social): 2 Acres
Perto facility in DTA
Bharat Skill Development University facility in DTA
Creating Economic Value
Industrial Parks – Origins, Ahmedabad & North Chennai
Ahmedabad Project Details: (Forthcoming)
- SPV Name: MIPPL
- Location: Jhansali Village, Limbdi on AMD Rajkot Highway
- Project Approvals: Received
- Construction Progress: Site under development.
North Chennai Project Details: (Ongoing)
- SPV Name: MIPCL
- Location: Ponneri, Thiruvallur, Tamil Nadu
- Project Approvals: Received
- Construction Progress: Under development
- Leased 7.41 Acres to Nissei Electronics in Q1 FY20.
* Leasable area is based on management estimates.
Recurring Rental Income
| Evolve, MWCJ | |
|---|---|
| Total area | 0.431msft |
| Area leased | 0.405msft |
| Mahindra Towers, Delhi | |
| Total area | 0.056 msft |
Evolve, Mahindra World City Jaipur Mahindra Towers, Delhi
Financial Update
Financial Snapshot – MLDL Consolidated
Statement of Profit and Loss All figures in Rs. Crs
| Particulars | Q12020 | Q42019 | Q12019 | FY2019 |
|---|---|---|---|---|
| Income | ||||
| OperationsIncomefrom | 1062 | 2343 | 1540 | 5928 |
| OtherIncome | 141 | 126 | 218 | 610 |
| 1203 | 2469 | 1758 | 6539 | |
| Expenditure | ||||
| OperatingExpenses | 656 | 1835 | 1009 | 4096 |
| EmployeeRemuneration&Benefits | 215 | 177 | 192 | 740 |
| CostsFinance | 23 | 17 | 45 | 125 |
| Depreciation&Amortisation | 20 | 10 | 08 | 38 |
| Administration&OtherExpenses | 159 | 249 | 176 | 834 |
| 1072 | 2288 | 1430 | 5833 | |
| ProfitfromOrdinaryActivitiesbeforeTax | 132 | 181 | 328 | 706 |
| /ShareProfit/LossinNetofAssociates | ||||
| ShareinNetProfit/(Loss)ofAssociates | 20 | 176 | 48 | 726 |
| ProfitfromOrdinaryActivitiesbeforeTax | 152 | 357 | 375 | 1433 |
| LessProvisionforCurrentTaxation: | 16 | (33) | 69 | 28 |
| LessProvisionforDeferredTaxation: | 04 | 07 | 38 | 218 |
| NetProfitfortheperiod | 131 | 320 | 269 | 1187 |
| Less:MinorityInterest | 02 | 07 | 02 | (10) |
| NetProfit/(Loss)afterTaxesMinorityInterest, | 129 | 313 | 267 | 1197 |
| ShareofProfit/(Loss)ofAssociatesand |
Financial Snapshot – MLDL Consolidated
Balance Sheet All figures in Rs. Crs
| EQUITYLIABILITIES& | Q12020 | FY2019 | ASSETS | Q12020 | FY2019 |
|---|---|---|---|---|---|
| PropertyPlantandEquipment, | 155 | 67 | |||
| ShareEquitycapital | 514 | 514 | Capitalwork-in-progress | 101 | 98 |
| OtherEquity | 18913, | 18782, | InvestmentProperty | 214 | 214 |
| Networth | 19426, | 19295, | Goodwill | 660 | 660 |
| OtherIntangibleassets | 03 | 03 | |||
| ControllingNonInterest | 437 | 435 | FinancialAssets | ||
| (i)Investments | 6933 | 6877 | |||
| FinancialLiabilities | (ii)Tradereceivables | 16 | 16 | ||
| (i)Borrowings | 403 | 326 | (iii)Loans | 41 | 35 |
| (ii)Tradepayables | - | - | Others(iv) | 06 | 01 |
| (iii)Otherfinancialliabilities | 147 | 45 | Deferred(Net)taxassets | - | - |
| Provisions | 27 | 40 | NonCurrentTaxAssets | 486 | 477 |
| Deferredliabilities(Net)tax | 138 | 134 | NonCurrentAssets | 8616 | 8458 |
| Otherliabilitiesnon-current | - | - | |||
| NonCurrentLiabilities | 715 | 544 | Inventories | 13221, | 13451, |
| FinancialAssets | |||||
| FinancialLiabilities | (i)Investments | 00 | 00 | ||
| (i)Borrowings | 1616 | 1707 | (ii)Tradereceivables | 1816 | 1373 |
| (ii)Tradepayables | 1527 | 1881 | (iii)Cashandcashequivalents | 1022 | 1346 |
| (iii)Otherfinancialliabilities | 801 | 790 | (iv)Bankbalancesotherthan(iii)above | 1784 | 1592 |
| Otherliabitiliescurrent | 5530 | 5033 | (v)Loans | 260 | 202 |
| Provisions | 129 | 100 | (vi)Others | 1795 | 1790 |
| Current(Net)TaxLiabilities | 151 | 150 | Current(Net)TaxAssets | - | - |
| CurrentLiabilities | 9754 | 9661 | Othercurrentassets | 1817 | 1724 |
| CurrentAssets | 21716, | 21478, | |||
| Liabilitiesassociatedwithheldforsaleassets | - | - | |||
| TOTAL | 30332, | 29936, | TOTAL | 30332, | 29936, |
| EQUITY&LIABILITIES | Q12020 | FY2019 | ASSETS | Q12020 | FY2019 |
|---|---|---|---|---|---|
| PropertyPlantandEquipment, | 155 | 76 | |||
| EquitySharecapital | 514 | 514 | Capitalwork-in-progress | 101 | 98 |
| OtherEquity | 18913, | 18782, | InvestmentProperty | 214 | 214 |
| Networth | 19426, | 19295, | Goodwill | 660 | 660 |
| OtherIntangibleassets | 03 | 03 | |||
| NonControllingInterest | 437 | 435 | FinancialAssets | ||
| (i)Investments | 6933 | 6877 | |||
| FinancialLiabilities | (ii)Tradereceivables | 16 | 16 | ||
| (i)Borrowings | 403 | 326 | (iii)Loans | 41 | 35 |
| (ii)Tradepayables | - | - | (iv)Others | 06 | 01 |
| (iii)Otherfinancialliabilities | 147 | 45 | (Net)Deferredtaxassets | - | - |
| Provisions | 27 | 40 | CurrentNonTaxAssets | 486 | 477 |
| Deferredliabilities(Net)tax | 138 | 134 | NonCurrentAssets | 8616 | 8458 |
| Otherliabilitiesnon-current | - | - | |||
| NonCurrentLiabilities | 571 | 544 | Inventories | 13221, | 13451, |
| FinancialAssets | |||||
| FinancialLiabilities | (i)Investments | 00 | 00 | ||
| (i)Borrowings | 1616 | 1707 | (ii)Tradereceivables | 1816 | 1373 |
| (ii)Tradepayables | 1527 | 1881 | (iii)Cashandcashequivalents | 1022 | 1346 |
| (iii)Otherfinancialliabilities | 801 | 790 | (iv)Bankbalancesotherthan(iii)above | 1784 | 1592 |
| Otherliabitiliescurrent | 5530 | 5033 | (v)Loans | 260 | 202 |
| Provisions | 129 | 100 | (vi)Others | 1795 | 1790 |
| CurrentTaxLiabilities(Net) | 151 | 150 | CurrentTaxAssets(Net) | - | - |
| CurrentLiabilities | 9754 | 9661 | Othercurrentassets | 1817 | 1724 |
| CurrentAssets | 21716, | 21478, | |||
| forLiabilitiesassociatedwithheldsaleassets | - | - | |||
| TOTAL | 30332, | 29936, | TOTAL | 30332, | 29936, |
Key Highlights
Key Highlights
Residential and IC&IC Business Performance
All figures in Rs Crs unless specified
| Particulars | Residential* | ICIC& |
|---|---|---|
| Q12020 | Q12020 | |
| Sold(msft)/(acres)AreaLandLeased | 022 | 941 |
| Sales/LeaseIncome | 120 | 25 |
| TotalIncome | 153 | 45 |
| EBIDTA | 22 | 17 |
| EBIDTAMargin(%) | 145% | 374% |
| PAT | 10 | 3 |
| (%)PATMargin | 66% | 62% |
| Networth | 1510 | 652 |
| Debt# | 279 | 542 |
| DebtEquityRatio | 02 | 08 |
Note: The above details are provided for better understanding of the performance of Residential and Industrial segments of the Company. Due care has been taken in compilation of the same by Management.
* All the figures correspond to residential units and includes commercial units, if any.
Debt represents funding from Banks/ FI's / Third Parties. Any contribution made by promoters / strategic partners (including ICDs) is excluded in the debt number.
Summary of Key Financials by Legal Entities for Q1 FY20
Key Legal Entities in Residential Business All figures in Rs. Crs
| Economic | Total | |||||
|---|---|---|---|---|---|---|
| EntityName | Interest | Income | EBIDTA | PAT | Debt | NetWorth |
| MLDL | 1000% | 991 | 125 | 97 | 1333 | 17612, |
| MHPL^ | 500% | 939 | 110 | (09) | #7843 | (252) |
| MBDL | 1000% | 27 | 04 | 02 | #582 | (66) |
| MITL | 963% | 01 | (18) | (25) | #813 | 766 |
| MRDL | 963% | 169 | 42 | 27 | - | 900 |
| MHDL^ | 250% | 01 | (37) | (43) | 1096# | (182) |
Key Legal Entities in IC & IC Business
| EntityName | EconomicInterest | TotalIncome | EBIDTA | PAT | Debt | NetWorth |
|---|---|---|---|---|---|---|
| MWCDL^ | 890% | 85 | 26 | (19) | 284 | 1473 |
| MWCJL^ | 740% | 177 | 96 | 10 | 2848# | 3050 |
| MIPCL^ | 534% | 200 | 39 | 23 | 1008 | 1741 |
| MIPPL^ | 500% | 02 | (32) | (23) | *1313 | (32) |
Note: All numbers are for respective SPV's on standalone basis and are aggregated without considering any inter-company eliminations.
^ : The entities are classified as JVs and are not consolidated in MLDL consolidation.
: In MHPL, debt numbers includes Rs.~640 Crs of contribution by promoters in the form of OCDs and CCDs; In MBDL, debt number includes Rs.~53 Crs of contribution by promoter in the form of ICD; In MITL, debt number includes Rs.~11 Crs of contribution by subsidiary in the form of ICD. In MHDL, debt numbers includes Rs.~40Crs of contribution by promotors in form of OCDs and OCRPS. In MWCJL, debt number includes Rs.~195 Crs of contribution by strategic partner (IFC).
* : In MIPPL, the entire debt represents contribution by promoter and strategic partner (IFC).
Structure Overview
Note: Overview includes asset owning SPVs only. Shareholding percentage are based on common equity capital in SPVs as on June 2019. Numbers are rounded to the nearest percentage.
MIPPL is a strategic partnership between MLDL and IFC.
Management Structure
Matrix organization structure ensures strong specialist support while enabling better market understanding and localised decision making
Geographic presence of residential business
Refers to IT Park, Evolve developed by Mahindra World City Jaipur Ltd.
** Data represents estimated saleable / leasable area. ## Includes 0.23 msft developed by Mahindra World City Chennai Developers Ltd.
* Does not include projects completed by GESCO. Please refer "Glossary" for definitions on Completed, Ongoing, Forthcoming and Land inventory Classification of area.
a. NCR includes Delhi, Gurgaon and Faridabad.
b. MMR includes Mumbai, Thane, Boisar, Palghar, Kalyan and Alibaug.
Completed Projects
| LocationNameoftheProject | Area | Area | Location | Nameofthe | Area | Area | |
|---|---|---|---|---|---|---|---|
| (mnsqm)(msft) | Project | (mnsqm) | (msft) | ||||
| Mumbai | Eminente | 005 | 057 | NCR | Aura | 013 | 136 |
| Splendour | 007 | 078 | LuminareI# | 003 | 037 | ||
| MahindraPark | 002 | 019 | Chloris | 004 | 039 | ||
| MahindraHeights | 001 | 006 | CentralPark | 011 | 117 | ||
| GardensMahindra | 003 | 036 | GreatEasternPlaza | 001 | 007 | ||
| GreatEasternLinks | 003 | 035 | GreatCentreEastern | 000 | 005 | ||
| GreatGardensEastern | 005 | 049 | Bengaluru | WindchimesI | 004 | 044 | |
| Fairwinds | 000 | 001 | Hyderabad | Ashvita | 010 | 108 | |
| HappinestBoisar | 005 | 049 | Chennai | CourtIris | 008 | 086 | |
| Pune | Royale | 006 | 063 | SylvanCounty | 005 | 050 | |
| TheWoods | 005 | 053 | AqualilyVillas | 004 | 046 | ||
| GreatEasternPlaza | 001 | 015 | AqualilyApartmentsABC1&2E,, | 008 | 089 | ||
| Retreat | 000 | 004 | Nova | 005 | 054 | ||
| Nest | 001 | 009 | MWCClub | 001 | 007 | ||
| LeMirage | 001 | 012 | SchoolMahindraWorld | 001 | 011 | ||
| AntheiaIIIIIIAIIIB&IIIC,,, | 014 | 148 | Canopy | 000 | 005 | ||
| L'Artista | 001 | 009 | HDFCBank | 001 | 010 | ||
| Mspace | 000 | 002 | HappinestAvadiPhIII&III, | 004 | 048 | ||
| Nagpur | IICIIICBloomdaleIIIAIIB-2&-1,,, | 007 | 071 | Jaipur | Evolve | 004 | 040 |
| (mnsqm) | Area(msft) | Location | ofProjectNamethe | Area(mnsqm) | Area(msft) | |
|---|---|---|---|---|---|---|
| Eminente | 005 | 057 | NCR | Aura | 013 | 136 |
| Splendour | 007 | 078 | LuminareI# | 003 | 037 | |
| MahindraPark | 002 | 019 | Chloris | 004 | 039 | |
| MahindraHeights | 001 | 006 | CentralPark | 011 | 117 | |
| MahindraGardens | 003 | 036 | GreatEasternPlaza | 001 | 007 | |
| GreatEasternLinks | 003 | 035 | GreatEasternCentre | 000 | 005 | |
| GreatEasternGardens | 005 | 049 | Bengaluru | WindchimesI | 004 | 044 |
| Fairwinds | 000 | 001 | Hyderabad | Ashvita | 010 | 108 |
| HappinestBoisar | 005 | 049 | ChennaiCourtIris | 008 | 086 | |
| Royale | 006 | 063 | SylvanCounty | 005 | 050 | |
| TheWoods | 005 | 053 | AqualilyVillas | 004 | 046 | |
| GreatEasternPlaza | 001 | 015 | C1AqualilyApartmentsAB&2E,, | 008 | 089 | |
| Retreat | 000 | 004 | Nova | 005 | 054 | |
| Nest | 001 | 009 | MWCClub | 001 | 007 | |
| LeMirage | 001 | 012 | MahindraWorldSchool | 001 | 011 | |
| IIICAntheiaIIIIIIAIIIB&,,, | 014 | 148 | Canopy | 000 | 005 | |
| L'Artista | 001 | 009 | HDFCBank | 001 | 010 | |
| Mspace | 000 | 002 | HappinestAvadiPhIII&III, | 004 | 048 | |
| BloomdaleIIIAIIBIIC&IIIC-2-1,,, | 007 | 071 | Jaipur | Evolve | 004 | 040 |
Total Development* : 1.54 mn sqm (16.55 msft)
* Does not include projects completed by GESCO. Includes commercial development at Chennai and Jaipur inside respective Mahindra World City's.
Glossary
Classification of projects is as under:
- a. Completed: projects where construction has been completed and occupancy certificates have been granted by the relevant authorities
- b. Ongoing: projects where (i) all title or development rights, or other interest in the land is held either directly or indirectly by the Company/subsidiaries of the Company/joint ventures of the Company/consolidated partnership firms of the Company; (ii) if required, all land for the project has been converted for the intended use; (iii) the requisite approvals for commencement of construction have been obtained
- c. Forthcoming: projects in respect of which (i) all title or development rights or other interest in the land is held either directly or indirectly by the Company/subsidiaries of the Company/joint ventures of the Company/consolidated partnership firms of the Company; (ii) if required, applications have been made for conversion of use for the land for the intended use; (iii) preliminary management development plans are in place; and (iv) architects have been identified
- d. Land Inventory: land in which any of the Company/subsidiaries of the Company/joint ventures of the Company/consolidated partnership firms of the Company hold interest, but on which there is no planned development as of the date hereof
| Actis | Actis GP LLP |
|---|---|
| DTA | Domestic Tariff Area |
| HDFC | HDFC Capital Affordable Real Estate Fund-1 |
| Capital | |
| IC&IC | IntegratedCities and Industrial Cluster |
| IFC | International Finance Corporation |
| IND AS | Indian Accounting Standards |
| KTL | Knowledge Township Limited |
| MBDL | Mahindra Bloomdale Developers Limited |
| MHDL | Mahindra Happinest Developers Limited |
| MHPL | Mahindra Homes Private Limited |
| MIPCL | Mahindra Industrial Park Chennai Limited |
| MIPPL | Mahindra Industrial Park Private Limited |
| MITL | Mahindra Integrated Township Limited |
| MLDL | Mahindra Lifespace Developers Limited |
| MMR | Mumbai Metropolitan Region |
| MRDL | Mahindra Residential Developers Limited |
| MSFT | Million Square Feet |
| MWC | Mahindra World City |
| MWCDL | Mahindra World City Developers Limited |
| MWCJL | Mahindra World City (Jaipur) Limited |
| NCR | National Capital Region |
| Rajasthan State Industrial Development & | |
| RIICO | Investment Corporation Limited |
| SEZ | Special Economic Zone |
| Tamil Nadu Industrial Development | |
| TIDCO | Corporation Limited |
Disclaimer
- This note has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. Neither this note nor any of its contents maybe used for any other purpose without the prior written consent of Mahindra Lifespace Developers Limited.
- In preparing this note, we have relied upon and assumed, without any independent verification, the accuracy and completeness of all information available from public sources or which was otherwise reviewed by us.
- This note contains certain assumptions, which Mahindra Lifespace Developers Limited considers reasonable at this time and our views as of this date and are accordingly subject to change. Computations adopted in this note are indicative and are based on current prevailing market prices and general market sentiment. No representation or warranty is given by Mahindra Lifespace Developers Limited as to the achievement or reasonableness or completeness of any idea and/or assumptions.
- This note does not purport to contain all the information that the recipient may require. Recipients should not construe any of the contents herein as advice relating to business, financial, legal, taxation, or investment matters and are advised to consult their own business, financial, legal, taxation and other advisors concerning the company.
- This note does not constitute an offer for sale, or an invitation to subscribe for, or purchase equity shares or other assets or securities of the company and the information contained herein shall not form the basis of any contract. It is also not meant to be or to constitute any offer for any transaction.
Thank You
Investor Relations Contact
Mr. Sumit Kasat
General Manager – Finance & Investor Relations Phone : +91-22-67478645
Email: [email protected]
Mahindra Lifespace Developers Limited CIN L45200MH1999PLC118949 5 th Floor, Mahindra Towers, Worli, Mumbai - 400 018. Tel: 022 6747 8600/ 6747 8601 | Fax: 022 2497 5084
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