Mahindra Lifespace Developers Ltd. — Investor Presentation 2020

May 14, 2020

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Date: 14[th] May, 2020

To,

BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai 400051 Listing: http://listing.bseindia.com Listing: https://www.connect2nse.com/LISTING/

Re:

Re:
Security	BSE	NSE	ISIN
Equity Shares	532313	MAHLIFE	INE813A01018

Sub: Intimation under Regulation 30(2) of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”).

Dear Sir / Madam,

Pursuant to Regulation 30(2) of the SEBI LODR, enclosed is the presentation on the Company’s financial & operational results for the 4[th] quarter and financial year ended on 31[st] March, 2020.

Kindly take the same on your record and display the same on the website of the Stock Exchange.

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Investor Presentation – Q4 FY20

1

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Contents

▪ Key Highlights

▪ Residential Business Update

▪ Integrated Cities & Industrial Clusters Update

▪ Financial Update

2

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Key Highlights

The operating highlights from Slide 4 to Slide 25 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.

3

Key Highlights

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RESIDENTIAL
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IC & IC
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Sales (in Rs Crs)

FY | Q4 818[#] | 397

acres MWC, Jaipur

FY | Q4 23.3 | 14.3

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FY | Q4 Collections (in Rs Crs) 930 | 197

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FY | Q4 1.07 | 0.18

Completions[] (msft)**

*** acres MWC, Chennai**

FY | Q4 1.2 | 1.0

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Handovers

FY | Q4 1,222 | 227

acres Origins, Chennai

FY | Q4 15.1 | 7.7

All figures correspond to MLDL (including associates) share of residential units and includes commercial units that are part of residential development * Doesn’t include 0.76 acres for Q4FY20 and 7 acres for FY20 sold outside boundaries of MWC, Chennai # Sales value doesn’t include cancellations in Luminare project during Q2FY20 and Q3FY20 of Rs 147 Crores ** Includes commercial spaces completed within residential projects

4

Awards and Recognition

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Antheia (Pune) received the ‘First in housing
category in the Swachh Bharat drive” by Pimpri Received ‘Corporate
Chinchwad Muncipal Corporation Governance and
Sustainability Vision
Award in two categories
–Sustainable
Performance and
Corporate Social
Responsibility’ from the
Awarded ‘Green Ranked 17 [th]
Indian Chamber of
Excellence Award- Green
in the Great Places Commerce
Construction Category’ at
to Work - mid-sized
the iDAC Expo
companies in 2019
Received the ‘Yuva Unstoppable Gratitude Award
2020’ from Yuva Unstoppable Organisation
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5

Financial Highlights

All figures in Rs. Crs

For MLDL Consolidated (Asper IND AS)	Q4 FY20	Q3 FY20	Q4 FY19
Total Income	111	85	247
PAT#	-224	2	31
For MLDL Consolidated (Asper IND AS) FY20 FY19 Total Income 646 654 PAT# -193 120 NetDebt 99 -66 NetWorth 1701 1930
For MLDL Consolidated (Asper IND AS)	FY20	FY19
Total Income	646	654
PAT#	-193	120
NetDebt	99	-66
NetWorth	1701	1930

Mahindra Homes Private Limited (MHPL), a Joint Venture of the Company, is executing residential projects at NCR and Bengaluru. The residential project in NCR is a Joint Development with the landowner. The project saw a successful launch in 2015 in a buoyant market. The market has thereafter seen muted demand and declining prices. During the year the company also saw significant cancellations of earlier bookings. Consequently, MHPL has valued its balance inventory as per its accounting policies. Similarly, the Company has in turn, based on estimated Net Present Value of forecasted cash flows, provided for impairment of its equity value in MHPL. On a consolidated basis, the impact of impairment is Rs 135 crores, in addition to an impact of Rs 64 crores as Share of Loss from MHPL JV. This has been done as a matter of prudence considering uncertain market conditions.

6

Business Overview

Residential

Integrated Cities & Industrial Clusters

Mid and Premium Residential Entities Economic Interest Ongoing & Forthcoming Area (msft) MLDL 100% 2.82 MHPL 50% 0.77 MBDL 100% 0.56 MITL 96.3% 1.31 MRDL 96.3% 0.22 Brand: Completed Development *16.45 msft Ongoing & Forthcoming Area 5.68 msft Development Footprint* *22.13 msft Area available for Future Sales 4.73 msft**	Mid and Premium Residential Entities Economic Interest Ongoing & Forthcoming Area (msft) MLDL 100% 2.82 MHPL 50% 0.77 MBDL 100% 0.56 MITL 96.3% 1.31 MRDL 96.3% 0.22 Brand: Completed Development *16.45 msft Ongoing & Forthcoming Area 5.68 msft Development Footprint* *22.13 msft Area available for Future Sales 4.73 msft**	Mid and Premium Residential Entities Economic Interest Ongoing & Forthcoming Area (msft) MLDL 100% 2.82 MHPL 50% 0.77 MBDL 100% 0.56 MITL 96.3% 1.31 MRDL 96.3% 0.22 Brand: Completed Development *16.45 msft Ongoing & Forthcoming Area 5.68 msft Development Footprint* *22.13 msft Area available for Future Sales 4.73 msft**	Affordable Housing Brand: Entities Economic Interest Ongoing & Forthcoming Area (msft) MLDL 100% 0.26 MHDL 25% 1.88 Completed Development *1.01 msft Ongoing & Forthcoming Area 2.13 msft Development Footprint* *3.14 msft Area available for Future Sales 1.13 msft**	Affordable Housing Brand: Entities Economic Interest Ongoing & Forthcoming Area (msft) MLDL 100% 0.26 MHDL 25% 1.88 Completed Development *1.01 msft Ongoing & Forthcoming Area 2.13 msft Development Footprint* *3.14 msft Area available for Future Sales 1.13 msft**	Affordable Housing Brand: Entities Economic Interest Ongoing & Forthcoming Area (msft) MLDL 100% 0.26 MHDL 25% 1.88 Completed Development *1.01 msft Ongoing & Forthcoming Area 2.13 msft Development Footprint* *3.14 msft Area available for Future Sales 1.13 msft**	Integrated Cities Brand: Entities Economic Interest Leasable Area (acres) * MWCDL 89% 1145 MWCJL 74% 2011 Leased Area 1954 acres Leasable Area *3156 acres Gross Area 4437 acres Area available for Leasing 1202 acres	Integrated Cities Brand: Entities Economic Interest Leasable Area (acres) * MWCDL 89% 1145 MWCJL 74% 2011 Leased Area 1954 acres Leasable Area *3156 acres Gross Area 4437 acres Area available for Leasing 1202 acres	Integrated Cities Brand: Entities Economic Interest Leasable Area (acres) * MWCDL 89% 1145 MWCJL 74% 2011 Leased Area 1954 acres Leasable Area *3156 acres Gross Area 4437 acres Area available for Leasing 1202 acres
Residential Brand: Completed Development 16.45 msft Ongoing & Forthcoming Area *5.68 msft Development Footprint 22.13 msft Area available for Future Sales* *4.73 msft			Affordable Housing Brand: Completed Development 1.01 msft Ongoing & Forthcoming Area *2.13 msft Development Footprint 3.14 msft Area available for Future Sales* *1.13 msft			g Brand: Leased Area 1954 acres Leasable Area *3156 acres Gross Area 4437 acres Area available for Leasing 1202 acres			Industrial Clusters Brand: Leased Area 38 acres Leasable Area *430 acres Gross Area 629 acres Area available for Leasing 392 acres
Entities	Economic Interest	Ongoing & Forthcoming Area (msft)**	Entities	Economic Interest	Ongoing & Forthcoming Area (msft)**	Entities	Economic Interest	Leasable Area (acres) *	Entities	Economic Interest	Leasable Area (acres) *
MLDL	100%	2.82	MLDL	100%	0.26	MWCDL	89%	1145	MIPCL	53.4%	209
MHPL	50%	0.77	MHDL	25%	1.88	MWCJL	74%	2011	MIPPL	50%	221
MBDL	100%	0.56
MITL	96.3%	1.31
MRDL	96.3%	0.22

*Completed Development does not include projects completed by GESCO and includes commercial units that are part of residential development

** Data represents estimated saleable area including JD partner’s share, wherever applicable; includes commercial space completed in residential projects *** Leasable area is based on management estimates.

7

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Residential Business Update

8

Sales – Annual Trend

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1,500 1.69 1.80
1.60
1,300
1.41
1.40
1,100
1.18 1.16
1,023 1.20
900
0.90 1.00
836 818
700
0.80
611
500
536
0.60
300
0.40
100
0.20
(100) FY16 FY17 FY18 FY19 FY20# -
Sales Value (Rs. Crs) Saleable Area (msft)
0.99 0.58 1.17 1.55 0.92
3.29 0.93 0.68 1.84 1.07
msft
Launches
msft
Compl~ etions
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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 value doesn’t include cancellations in Luminare project during Q2FY20 and Q3FY20 of Rs 147 Crores

9

Sales – Quarterly Trend

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0.75
0.65
407
397
0.26
0.19
0.22
196
120
106
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20
Sales Value (Rs. Crs) Saleable Area (msft)
Centralis Vicino I Avadi VI (Block B)
Bloomdale IVA & IVC
Happinest Kalyan
Luminare I #, Antheia IIIB Antheia IIIC Vivante, Bloombale Windchimes II Bloomdale IIB
Bloomdale IIB-2, IIC & IIIC-1 Mspace IIB -2 & IIID -2 Happinest Boisar CFC
Aqualily Apts 2E, Boisar IV
Avadi II & III
Launches
Comp~ letions
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Note: All figures correspond to MLDL (including associates) share of residential units, excluding commercial units that are part of residential developments. # Project under Joint Development (JD).

* Q2 FY20 & Q3 FY20 sales numbers does not include cancellations at Luminare of Rs 91 Cr (0.067 msft ) and Rs 56 Cr (0.041 msft) respectively

10

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Sales - City and Price Segment wise

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Q4 FY20 City-wise Sales (Volume)
6% MMR
9%
Pune
1%
4%
Nagpur
3%
NCR
Chennai
Bengaluru
78%
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Q4 FY20 City-wise Sales (Value)
10% MMR
6% Pune
2%
3% Nagpur
4%
NCR
Chennai
Bengaluru
76%
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Q4 FY20 Price Segment-wise Sales (Volume)

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6%
INR in Lacs
9% [-1%]
3% upto 25
25 to 50
50 to 75
75 to 100
100 to 200
200 and above
84%
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Q4 FY20 Price Segment-wise Sales (Value)
4% INR in Lacs
-1%
14%
upto 25
3%
25 to 50
50 to 75
75 to 100
100 to 200
200 and above
81%
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Note: Total sales volume considered is 0.75 msft saleable area and total sales value considered is Rs. 399.65 Crs.

11

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Operating Metrics

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Collections & Construction Spend (Rs. Crs) Completions & Launches (msft)
301 1.0
0.9
258
234 241
197
0.5
0.43
103 104
0.3
62 68 55 0.16 0.18
0.02
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20
Customer Collections Construction Spend Completions Launches
No. of Units Handed over to Clients Average Price Realisation (Rs / sqft)
487 7988
461
6564
5953 6037 6209
5108
258 276 3462 3739 3625 3346
227
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Mid & Premium Residential Affordable Housing
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12

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Project Portfolio

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Saleable Area (msft)
Location
On oin Forthcomin Land Inventor
g g g y
MMR 1.52 1.26 0.94
-
Pune 0.50 0.68
- -
Nagpur 0.56
*
-
NCR 0.41 0.37
- -
Bengaluru 0.74
Chennai 0.62 1.17 9.50
Total 3.59 4.23 10.44
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Total Completed Development – 17.46 msft*

• NCR includes Delhi, Gurgaon and Faridabad;

• ** MMR includes Mumbai, Boisar, Palghar, Thane, Kalyan and Alibaug;

• *** Does not include projects completed by GESCO. Includes commercial development inside residential complexes # Based on saleable area including JD partner’s share wherever applicable.

13

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Summary of Ongoing and Forthcoming Projects

Region	Project Name	Company / SPV	Total Development	Launched Development	Completed Development	Ongoing Development	Balance (To be launched)
			A	B	C	D	E =(A-C-D)
MMR	Roots	MLDL	0.14	0.14	-	0.14	-
	Vicino	MLDL	0.26	0.07	-	0.07	0.19
	Sakinaka#	MLDL	0.34	-	-	-	0.34
	Serenes	MLDL	0.16	0.06	-	0.06	0.09
	HappinestPalghar 1	MHDL	0.41	0.41	-	0.41	-
	HappinestPalghar 2	MHDL	0.64	-	-	-	0.64
	HappinestKalyan	MHDL	0.83	0.83	-	0.83	-
Pune	Antheia	MLDL	1.64	1.64	1.48	0.16	-
	Centralis	MLDL	0.34	0.34	-	0.34	-
	New Project (Tathawade)	MLDL	0.68	-	-	-	0.68
Nagpur	Bloomdale	MBDL	1.55	1.55	0.99	0.56	-
NCR	Luminare #	MHPL	1.14	0.77	0.37	0.41	0.37
Bengaluru	New Project (Kanakpura)	MLDL	0.74	-	-	-	0.74
Chennai	Aqualily	MRDL	1.58	1.51	1.35	0.16	0.07
	Lakewoods	MITL	0.90	0.28	-	0.28	0.62
	MWC Chennai Residential 21	MITL	0.41	-	-	-	0.41
	HappinestAvadi	MLDL	0.73	0.66	0.48	0.18	0.08
	TOTAL		12.48	8.25	4.66	3.59	4.23

All figures in msft

Note: Above figures are based on saleable area including JD partner’s share wherever applicable. # Project under Joint Development (JD).

14

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Development mix of Ongoing Projects

Region	Project Name	Location	Segment	Development Mix	Area Range Saleable (sqft)	Indicative Prices (Rs. Crs)
MMR	Roots	Mumbai	Mid-Premium	1 & 2 BHK	740-1239	1-1.5
	Vicino	Mumbai	Mid-Premium	1, 2 & 3 BHK	754-2137	1.5-3.9
	Serenes	Alibaug	Luxury	3, 4 BHK Villas	3000-3400	3-3.5
	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
	Happinest Kalyan	Kalyan	Affordable	1 & 2 BHK	555-896	0.3-0.5
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, Row Houses & Duplex Homes	739 - 2440	0.3 - 1
NCR	Luminare	Gurgaon	Luxury	3 & 4 BHK	2985 - 6007	3.5 - 4.5
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.

15

Summary of Ongoing Projects

Location	Project Name	Launched Development1 (msft)	PTD Area Sold (msft)	% Completion**	PTD Sales Value (Rs. Cr)	RERA Completion Date***
MMR	Roots	0.14	0.09	59%	114.1	Sep-22
	VicinoI	0.07	0.03	64%	54.2	Mar-24
	HappinestKalyan I	0.33	0.22	34%	116.1	Dec-23
	HappinestKalyan II	0.49	0.36	33%	188.6	Jun-24
	HappinestPalghar 1 - I	0.14	0.12	80%	36.8	Dec-20
	HappinestPalghar 1 - II	0.15	0.13	62%	40.3	Sep-21
	HappinestPalghar 1 - III	0.08	0.05	54%	16.0	Sep-21
	HappinestPalghar 1 - IV	0.04	0.04	56%	11.5	Dec-21
	Serenes	0.06	0.01	83%	7.6	Dec-21
Pune	AntheiaIIID	0.16	0.13	89%	86.8	Mar-22
	Centralis- Tower 1	0.09	0.09	28%	56.5	Aug-22
	Centralis- Tower 2	0.09	0.09	29%	56.6	Aug-22
	Centralis- Tower3	0.09	0.09	29%	55.6	Mar-22
	Centralis- Tower 4	0.07	0.07	26%	44.5	Mar-22
	BloomdaleIIIB	0.11	0.08	65%	34.0	Sep-20
	BloomdaleIIIC- 2	0.04	0.03	62%	14.8	Mar-20
	BloomdaleIIID	0.05	0.04	64%	18.1	Sep-21
	BloomdaleIVA	0.14	0.05	45%	21.9	May-22
	BloomdaleIVB	0.14	0.08	55%	30.3	Jun-21
	BloomdaleIVC	0.03	0.00	55%	1.1	Sep-21
	BloomdaleIVD	0.04	0.02	50%	9.5	May-20
NCR	LuminareII #	0.41	0.15	75%	197.5	Mar-21
Chennai	AqualilyApts C2	0.16	-	46%	-	NA
	LakewoodsI	0.28	0.17	35%	64.4	Mar-22
	HappinestAvadi IV	0.06	0.06	94%	19.5	Jul-20
	HappinestAvadi V	0.10	0.09	88%	31.0	Dec-20
	HappinestAvadi VIB	0.02	0.01	3%	2.8	Mar-22
Total		3.59	**2.31 **	58%	1,330.4

1 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).

16

Forthcoming Projects

Location	Name of the Project	Est. Saleable Area msft
Subsequent Phases of Existing Projects
NCR Chennai MMR	Vicino Serenes Luminare # Aqualily Lakewoods HappinestAvadi	0.19 0.09 0.37 0.07 0.62 0.08
TOTAL -Subsequent Phases of Existing Projects		1.41
New Projects
MMR	Sakinaka #	0.34
	HappinestPalghar 2	0.64
Pune Bengaluru	New Project (Tathawade) New Project (Kanakpura)	0.68 0.74
Chennai	MWC Chennai Residential 21	0.41
TOTAL - New Projects		**2.81 **
TOTAL - Forthcoming Projects		4.23

Est. saleable area includes JD partner’s share wherever applicable. # Project under Joint Development (JD).

17

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Balance Inventory in Completed Projects

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Balance units Balance area
Location Project Name Company MLDL Holding
to sell * to sell (msft)
Happinest Boisar MLDL 100% 101 0.05
MMR Happinest Boisar CFC MLDL 100% 5 0.03
Vivante MLDL 100% 1 0.00
Pune Antheia MLDL 100% 7 0.01
Nagpur Bloomdale MBDL 100% 5 0.01
NCR Luminare # MHPL 50% 45 0.14
Bengaluru Windchimes MHPL 50% 44 0.09
Chennai Aqualily Apts MRDL 96% 12 0.03
TOTAL 220 0.35
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Project under Joint Development (JD).

• The numbers of units shown includes JD partner’s share of inventory.

18

Cash Flow Potential

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Value
Particulars
( Rs. Cr)
Ongoing & Completed Sales completed in ongoing projects 1330
Projects Less : Amount collected from sales 408
Net amount to be collected on completed sales (A) 922
Estimated sales from finished goods & balance inventory in ongoing projects # 1108
Less: Estimated construction cost to be spent on ongoing projects 855
Net amount to be collected on future sales (B) 253
Cashflow from ongoing & completed projects (A+B) = (C) 1175
Subsequent Phases of Estimated sales potential # 1117
Ongoing Projects Less: Estimated construction cost 509
Cashflow from future phases of ongoing projects (D) 608
Total Estimated Cashflows (C + D) = (E) 1783
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* 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.

19

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Integrated Cities & Industrial Clusters Update

20

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Mahindra World City, Chennai – Business Update

• Total number of customers: 81 (66 Operational)

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Total Area Procured – 1524 acres | Leasable Area – 1145 acres
425 425 422 420
298
273
SEZ DTA Resi & Social
Total Leasable Area (in acres) Leased Area (in acres)
5 30
4
25
4 3.9
3.7
3 20
3.3 3.2
3.1
3
15
2
24.1
2 10
17.6
1
5
1 7.5
0.0 1.2
0 0
FY16# FY17 FY18 FY19 FY20
Area Leased (acres) Average Price Per Acre (Rs. Crs)
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• in FY16 , previous period prices are indicated due to no lease transactions. * Does not include sales outside MWC boundaries

• 1.76 acres leased during Q4 FY20

• ✓ Tons n Treads India Pvt Ltd (Retail) 1 acre

• ✓ Individual Clients 0.76 acres (Outside MWC boundaries)

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SMC Pneumatics facility in DTA

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Srinivasa Fashions facility in Apparel SEZ

21

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Mahindra World City, Jaipur – Business Update

Total Area Procured – 2913 acres | Leasable Area – 2011 acres

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1026
695
412
374
290
50
SEZ DTA Resi & Social *
Total Leasable Area (in acres) Leased Area (in acres)
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** Total Leasable Area of Residential & Social is indicative (assumed at yield of 65%) until
finalisation and approval of Master Plan.
3 80
Includes 25 acres for Evolve.
70
3
1.9 2.0 60
2.5
2
50
2.0
2 40
1.7
66.8
30
1
44.0 46.2
20
1 28.7
23.30 10
0 0
FY16 FY17 FY18 FY19 FY20
Area Leased (acres) Average Price Per Acre (Rs. Crs)
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• Total number of customers: 93 (64 Operational)

• 14.25 acres leased during Q4 FY20

• ✓ Vetromed Pvt Ltd (Social Infra) 1.44 acres

• ✓ Programmers IO (SEZ) 2.81 acres

• ✓ Bhagwati Resorts & Hotels Pvt Ltd (DTA) 10 acres

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Perto facility in DTA

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Bharat Skill Development University facility in DTA

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Creating Economic Value

Mahindra World City Chennai*

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40,000
39,500 39,500
38,000 38,000
9,359 10,202 11,428 12,683 10,280
FY16 FY17 FY18 FY19 9M FY20
Exports (Rs. Crs.) Employment (Direct)
5,240 5,256
5,165
5,105
4,600
FY16 FY17 FY18 FY19 9M FY20
Cumulative Investments (Rs. Crs.)
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Mahindra World City Jaipur

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12,876
11,334
10,230
8,396 8,300
1,128 1,245 1,311 1,552 1,281
FY16 FY17 FY18 FY19 FY20
Exports (Rs. Crs.) Employment (Direct)
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5,118
4,407
3,648
3,258
2,872
FY16 FY17 FY18 FY19 FY20
Cumulative Investments (Rs. Crs.)
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• Latest numbers not available due to lockdown at mentioned location

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Ahmedabad & North Chennai Industrial Parks – Origins,

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340
289
221
209
38
0
Ahmedabad North Chennai
Gross Area Leasable Area Leased Area
Area in acres
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Ahmedabad Project Details: (Ongoing)

North Chennai Project Details: (Ongoing)

• SPV Name: MIPPL

• SPV Name: MIPCL

• Location: Village Jansali, on NH – 47 (Ahmedabad - Rajkot Highway), Taluka Limbdi, Gujarat.

• Location: Ponneri, Thiruvallur, Tamil Nadu

• Project Approvals: Received

• Project Approvals: Received

• Construction Progress: Under development

• Construction Progress: Under development.

• Leased 7.7 acres in Q4FY20 at Rs 2.7 Cr per acre .

• Leasable area is based on management estimates.

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Recurring Rental Income

Recurring Income & Expenses (Rs. Crs)

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Evolve, MWCJ 21 22
Total area 0.431 msft
12
Area leased 0.375 msft
Mahindra Towers, Delhi
Total area 0.056 msft
Income Expenses
Q4 FY19
Area leased 0.045 msft Evolve, MWCJ
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21 22 19
17
12
11
10
8 9
Income Expenses Income Expenses Income Expenses Income Expenses Income Expenses
Q4 FY19 Q1 FY19 Q2 FY20 Q3 FY20 Q4 FY20
Evolve, MWCJ Mahindra Towers, Delhi
Park O&M and Water Charges, MWCC Park O&M and Water Charges, MWCJ
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Evolve, Mahindra World City Jaipur

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Mahindra Towers, Delhi

• Restated for change in accounting grouping

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Financial Update

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Financial Snapshot – MLDL Consolidated ▪ Statement of Profit and Loss

All figures in Rs. Crs

Particulars	Q4 FY20	Q3 FY20	Q4 FY19	FY20	FY19
Income Income from Operations Other Income	101.4 9.4	78.8 6.2	234.3 12.6	610.9 35.0	592.8 61.0
	110.8	85.0	246.9	645.9	653.9
Expenditure Operating Expenses Employee Remuneration & Benefits Finance Costs Depreciation & Amortisation Administration & Other Expenses	93.5 15.9 1.3 1.9 43.5	62.1 20.7 1.7 1.9 19.0	183.5 17.7 1.7 1.0 24.9	483.0 82.2 7.6 7.7 102.5	409.6 74.0 12.5 3.8 83.4
	156.0	105.4	228.8	683.1	583.3
Exceptional Items#	(134.6)			(134.6)
Profit from Ordinary Activities before Tax /Share in Net Profit/Loss of Associates	(179.8)	(20.4)	18.1	(171.8)	70.6
Share in Net Profit/(Loss) of Associates	(49.6)	22.7	17.6	(24.5)	72.6
Profit from Ordinary Activities before Tax	(229.5)	2.3	35.7	(196.2)	143.3
Less : Provision for Current Taxation Less : Provision for Deferred Taxation	0.5 (5.3)	1.6 (1.2)	(3.3) 7.0	4.9 (6.6)	2.8 21.8
Net Profit for the period	(224.7)	2.0	32.0	(194.6)	118.7
Less: Minority Interest	(0.8)	0.2	0.7	(1.1)	(1.0)
Net Profit/ (Loss) after Taxes and Minority Interest	(223.9)	1.8	31.3	(193.4)	119.7

Mahindra Homes Private Limited (MHPL), a Joint Venture of the Company, is executing residential projects at NCR and Bengaluru. The residential project in NCR is a Joint Development with the landowner. The project saw a successful launch in 2015 in a buoyant market. The market has thereafter seen muted demand and declining prices. During the year the company also saw significant cancellations of earlier bookings. Consequently, MHPL has valued its balance inventory as per its accounting policies. Similarly, the Company has in turn, based on estimated Net Present Value of forecasted cash flows, provided for impairment of its equity value in MHPL. On a consolidated basis, the impact of impairment is Rs 135 crores, in addition to an impact of Rs 64 crores as Share of Loss from MHPL JV. This has been done as a matter

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Financial Snapshot – MLDL Consolidated ▪ Balance Sheet

All figures in Rs. Crs

EQUITY & LIABILITIES	FY20	FY 19		ASSETS	FY20	FY 19
Equity Share capital Other Equity	51.4 1,649.9	51.4 1,878.2		Property, Plant and Equipment Capital work-in-progress Investment Property Goodwill Other Intangible assets Financial Assets (i) Investments (ii) Trade receivables (iii) Loans (iv) Others Deferred tax assets (Net) NonCurrentTax Assets	11.0 12.2 20.9 66.0 0.2 548.2 - 20.5 0.1 - 56.6	7.6 9.8 21.4 66.0 0.3 687.7 1.6 3.5 0.1 - 47.7
Networth Non Controlling Interest Financial Liabilities (i) Borrowings (ii) Trade payables (iii) Other financial liabilities Provisions Deferred tax liabilities (Net) Other non-current liabilities	1,701.3	1,929.5
	41.9	43.5
	62.9 - 2.8 3.8 7.7 -	32.6 - 4.5 4.0 13.4 -
				Non Current Assets Inventories Financial Assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Loans (vi) Others Current Tax Assets (Net) Other current assets	735.8	845.8
					1,204.3 0.0 114.4 92.5 40.0 62.9 149.6 - 142.3	1,345.1 0.0 137.3 134.6 159.2 20.2 179.0 - 172.4
Non Current Liabilities Financial Liabilities (i) Borrowings (ii) Trade payables (iii) Other financial liabilities Other current liabitilies Provisions CurrentTax Liabilities (Net)	77.2	54.4
	144.1 127.6 85.0 339.7 9.7 15.1	170.7 188.1 79.0 503.3 10.0 15.0
Current Liabilities Liabilities associatedwithassetsheldforsale	721.3	966.1
	-	-		Current Assets	1,805.9	2,147.8
TOTAL	2,541.7	2,993.6		TOTAL	2,541.7	2,993.6

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Key Highlights

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Total Income (Rs. Crs)
330
247
120
111
85
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20
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EBITDA (Rs. Crs) and EBITDA Margin

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16.0% 16.0%
6.0% 7.0%
38
19 20 6
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20
-92
-83.0%
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Operating Income (Rs. Crs)
324
234
106 101
79
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20
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PAT (Rs. Crs) and PAT Margin

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50 31 50.0%
13 16
12.7% 10.7% 4.8% 2 2.1%
0 0.0%
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20
-50 -50.0%
-100 -100.0%
-150 -150.0%
-200 203% -200.0%
-250 -224 -250.0%
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Key Highlights

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Gross Debt Equity Ratio Net Debt Equity Ratio
0.05
0.03
0.02
0.14
0.13
0.12 0.12
0.10 -0.03
-0.03
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20
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Interest Rate
9.08% 9.07%
8.85%
8.73%
8.66%
Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20
Interest rate has been calculated on loans taken from third parties.
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Residential and IC & IC Business Performance

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Summary of Key Financials by Legal Entities for Q4 FY20

Key Legal Entities in Residential Business

Key Legal Entities in Residential Business All figures in Rs. Crs
Entity Name	Economic Interest	Total Income	PAT	External Debt#	Net Worth
MLDL	100.0%	78.3	(253.3)	118.9	1,496.3
MHPL^	50.0%	71.1	(214.2)	107.3	426.7
MBDL	100.0%	40.4	(2.4)	-	(3.5)
MITL	96.3%	0.3	(3.0)	79.9	68.1
MRDL	96.3%	6.5	(0.0)	-	91.4
MHDL^	25.0%	0.7	(3.4)	80.0	(23.5)

Ke Le al Entities in IC & IC Business y g

Entity Name	Economic Interest	Total Income	PAT	External Debt#	Net Worth
MWCDL^	89.0%	12.6	(1.3)	280.5	140.6
MWCJL^	74.0%	45.5	16.5	50.5	304.3
MIPCL^	53.4%	20.5	1.9	112.3	173.2
MIPPL^	50.0%	0.0	(3.6)	-	(9.7)

Note: All numbers are for respective SPV’s on standalone basis and are aggregated without considering any inter-company eliminations.

: Debt number represents borrowing from Bank/Institutions/Third Parties and does not include borrowings from group entities, promoter and strategic partners as applicable in various entities.

^ : The entities are classified as JVs and are not consolidated in MLDL consolidation.

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Summary of Key Financials by Legal Entities for FY20

Key Legal Entities in Residential Business

All figures in Rs. Crs

Entity Name	Economic Interest	Total Income	PAT	External Debt#	Net Worth
MLDL	100.0%	520.7	(226.0)	118.9	1,496.3
MHPL^	50.0%	425.7	(189.4)	107.3	426.7
MBDL	100.0%	99.3	3.4	-	(3.5)
MITL	96.3%	3.3	(9.5)	79.9	68.1
MRDL	96.3%	56.8	6.0	-	91.4
MHDL^	25.0%	1.4	(9.7)	80.0	(23.5)

Ke Le al Entities in IC & IC Business y g

Entity Name	Economic Interest	Total Income	PAT	External Debt#	Net Worth
MWCDL^	89.0%	43.6	(8.6)	280.5	140.6
MWCJL^	74.0%	109.6	27.4	50.5	304.3
MIPCL^	53.4%	40.5	1.4	112.3	173.2
MIPPL^	50.0%	0.2	(8.8)	-	(9.7)

Note: All numbers are for respective SPV’s on standalone basis and are aggregated without considering any inter-company eliminations.

: Debt number represents borrowing from Bank/Institutions/Third Parties and does not include borrowings from group entities, promoter and strategic partners as applicable in various entities.

^ : The entities are classified as JVs and are not consolidated in MLDL consolidation.

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Annexures

34

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Structure Overview

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Note: Overview includes asset owning SPVs only. Shareholding percentage are based on common equity capital in SPVs as on December 2019. Numbers are rounded to the nearest percentage.

MIPPL is a strategic partnership between MLDL and IFC.

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Management Structure

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Non-Executive Chairman
Arun K Nanda
MD & CEO - MLDL CEO – HAPPINEST & COO - MLDL
Sangeeta Prasad Arvind Subramanian
Mid-Premium
Corporate Residential Integrated Cities & Industrial Clusters Happinest
Chief Legal Officer and Company Secretary Chief Project Officer Chief Finance Officer Business Head – South & North Business Head – Origins Chennai & MWCC Business Head – MWC Jaipur Chief Project Officer
Amit Pal
Suhas Kulkarni DeepakSuvarna Vimal Agarwal Rahul Gupta Vaibhav M SanjaySrivastava
Chief Sales Officer
Vimalendra
Chief People Officer Chief Customer Officer Business Head – Origins Singh
(Ahmedabad)
Mid-Premium
Residential
Krity Sharma Sunil Lokanathan Chief Marketing Officer
Sharma Nadar
Business Head – West
Ankur Parmar
Chief of Design Chief of Strategy & NPD
Mohit Arora
Sr.GM – Strategy &
Amar Nidhi Business Development
Tendulkar Seksaria
Ashvin
Iyengar
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Matrix organization structure ensures strong specialist support while enabling better market understanding and localised decision making

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Com leted Pro ects p j

Location	Name of the Project	Area (mn sqm)	Area (msft)		Location	Name of the Project	Area (mn sqm)	Area (msft)
Mumbai	Eminente	0.05	0.57		NCR	Aura	0.13	1.36
	Splendour	0.07	0.78			Luminare I #	0.03	0.37
	Vivante	0.01	0.16			Chloris	0.04	0.39
	Mahindra Park	0.02	0.19			Central Park	0.11	1.17
	Mahindra Heights	0.01	0.06			Great Eastern Plaza	0.01	0.07
	Mahindra Gardens	0.03	0.36			Great Eastern Centre	0.00	0.05
	Great Eastern Links	0.03	0.35		Bengaluru	Windchimes I	0.04	0.44
	Great Eastern Gardens	0.05	0.49			Windchimes II	0.04	0.43
	Fairwinds	0.00	0.01		Hyderabad	Ashvita	0.10	1.08
	Happinest Boisar	0.05	0.53		Chennai	Iris Court	0.08	0.86
Pune	Royale	0.06	0.63			Sylvan County	0.05	0.50
	The Woods	0.05	0.53			AqualilyVillas	0.04	0.46
	Great Eastern Plaza	0.01	0.15			AqualilyApartments A,B,C1 & 2E	0.08	0.89
	Retreat	0.00	0.04			Nova	0.05	0.54
	Nest	0.01	0.09			MWC Club	0.01	0.07
	Le Mirage	0.01	0.12			Mahindra World School	0.01	0.11
	Antheia I,II,IIIA,IIIB & IIIC	0.14	1.48			Canopy	0.00	0.05
	L'Artista	0.01	0.09			HDFC Bank	0.01	0.10
	Mspace	0.00	0.02			Happinest Avadi Ph I,II & III	0.04	0.48
Nagpur	Bloomdale I,IIA,IIB,IIB-2,IIC,IIIA,IIIC-1 & IIID-2	0.09	0.99		Jaipur	Evolve 1	0.04	0.40

Total Development* : 1.62 mn sqm (17.46 msft)

• Does not include projects completed by GESCO. Includes commercial development at Residential projects and Chennai & Jaipur inside respective Mahindra World City’s.

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Geographic presence of residential business

Total (msft)	Mid-Premium	Happinest
Completed*:	16.45	1.01
Ongoing**:	2.17	1.42
Forthcoming: Land Inventory:	3.51 10.44	0.71 –
Total:	32.57	3.14
Completed area includes 1.03 msft of Commercial		development

Note: All figures in msft of Saleable / Leasable area

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NCR Completed: 3.41 Ongoing: 0.41 Forthcoming: 0.37 – Land Inventory: Total: 4.18

Nagpur Completed: 0.99 Ongoing: 0.56 – Forthcoming: – Land Inventory: Total: 1.55

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Jaipur

Completed #: 0.40 – Ongoing: – Forthcoming: – Land Inventory: Total: 0.40

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Pune

Completed: 3.15 Ongoing: 0.50 Forthcoming: 0.68 Land Inventory: – Total: 4.33

Total:	4.33
MMR	Mid-Premium	Happinest
Completed*:	2.97	0.53
Ongoing**:	0.28	1.24
Forthcoming**:	0.63	0.64
Land Inventory**:	0.94	–
Total:	4.81	2.40

• ** 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.

• Refers to IT Park, Evolve developed by Mahindra World City Jaipur Ltd.

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Hyderabad Completed: 1.08 – Ongoing: – Forthcoming: – Land Inventory: Total: 1.08

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Bengaluru Completed: 0.87 – Ongoing: Forthcoming: 0.74 – Land Inventory: Total: 1.61*

Chennai	Mid-Premium	Happinest
Completed*:	##3.59	0.48
Ongoing**:	0.44	0.18
Forthcoming**:	1.10	0.08
Land Inventory**:	9.50	–
Total:	14.62	0.73

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.

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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 Capital	HDFC Capital Affordable Real Estate Fund-1
IC&IC	Integrated Cities and Industrial Cluster
IFC	International Finance Corporation
IND AS	Indian AccountingStandards
KTL	Knowledge TownshipLimited
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 TownshipLimited
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 CityDevelopers Limited
MWCJL	Mahindra World City (Jaipur)Limited
NCR	National Capital Region
RIICO	Rajasthan State Industrial Development & Investment Corporation Limited
SEZ	Special Economic Zone
TIDCO	Tamil Nadu Industrial Development Corporation Limited

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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 used for other without the written consent of maybe any purpose prior

• 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

• to in this note are indicative and are based on

• subject change. Computations adopted current market and market sentiment. No or prevailing prices general representation is Mahindra Limited as to the achievement or

• warranty given by Lifespace Developers 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.

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Thank You

Investor Relations Contact

Mr. Vimal Agarwal Mr. Sumit Kasat Chief Financial Officer General Manager – Finance & Investor Relations Phone : +91-22-67478660 Phone : +91-22-67478645 Email: agarwal.vimal@mahindra.com Email: kasat.sumit@mahindra.com

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

www.mahindralifespaces.com | www.mahindraworldcity.com | www.happinest.co.in

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