PRESS RELEASE Q4 & FY2014 Results · 2014-05-02 · godrej properties limited Registered and...

PRESS RELEASE

Q4 & FY2014 Results

FY2014 Total Income increased by 20% to INR 1254.2 crore

FY2014 PBT increased by 20% to INR 347.4 crore

FY2014 Net Profit increased by 15% to INR 159.4 crore

Highest ever sales in a single quarter - Surpassed INR 1000 Cr in quarterly

sales for the first time in Q4 FY2014

Q4 FY2014 Total Income increased by 39% to INR 435.6 crore

Q4 FY2014 Net Profit stood at INR 48.3 crore

Mumbai, May 02 2014: Godrej Properties Limited (GPL), a leading national real estate

developer, today announced its financial results for the quarter and full year ended March

31, 2014.

CORPORATE HIGHLIGHTS:

Business Development Highlights

Added 4 projects in 4 separate cities with 9.6 million sq.ft. of saleable area in Q4 FY14

Vikhroli, Mumbai

Added GPL's seventeenth project in Mumbai with 0.8 million sq.ft. saleable area

Project expected to comprise of premium residences as well as a small component of

convenience retail

GODREJ PROPERTIES LIMITED

Registered and Corporate Office: Godrej Bhavan, 4th Floor, 4A, Home Street, Fort, Mumbai – 400 001

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2

Keshav Nagar, Pune

Added GPL's fourth residential project in Pune with 2.8 million sq.ft. saleable area

Close proximity to IT parks of Kharadi and Hadapsar

Project will be developed as a premium residential development

Padur, Old Mahabalipuram Road, Chennai

Added GPL's second project in Chennai with 1 million sq.ft. saleable area

Excellent connectivity to all key areas in Chennai including the East Coast Road

(ECR) and Grand Southern Trunk (GST) Road

Project will be developed as a modern group housing residential development

Devanhalli, Bangalore

Added GPL's seventh project in Bangalore with 5.00 mn sq.ft. saleable area

Strategically located between Bangalore International Airport & Hebbal with close

proximity to several IT parks and schools

Project will be developed as an integrated township with a mix of residential units,

school, convenience retail and other amenities

Sales Highlights

Highest ever sales in a single quarter - Surpassed INR 1000 Cr in quarterly sales bookings

for the first time in GPL's history in Q4 FY14

Q4 FY2014 witnessed total booking value of INR 1066 Cr and total booking volume

of 1.34 million sq. ft. as compared to total booking value of INR 601 crore and total

booking volume of in 0.64 million sq. ft. Q4 FY2013

Residential projects recorded booking value of INR 835 Cr and booking volume of

0.90 million sq. ft.

Commercial projects witnessed booking value of INR 231 Cr and booking area of

0.44 million sq. ft.

Dividend

The Board has recommended INR 2 per equity share of INR 5 each to be paid as final

dividend

3

Awards & Recognitions

GPL received 9 awards in Q4 FY2014 and has received 28 awards in FY2014

„The Trees’ - Honour Award - The Boston Society of Landscape Architects

‘Ethical Brand For Real Estate’ - CMO Asia

‘The Best innovative Marketing Campaign’- Godrej Garden City - Golden Mikes

Award

‘Best upcoming project in Bengal’ – Godrej Platinum - CREDAI Bengal Realty

Awards 2014

‘6 Star Rating’ - Godrej Anandam, Nagpur - CRISIL

‘6 Star Rating’ - Godrej Platinum, Kolkata - CRISIL

„Most Admired Retail Website‟ - Asia Retail Congress Awards

‘Gold in the category of Online Newsletter’ – Vibrations - Public Relations Council of

India (PRCI)

‘Silver in the category of In-House Magazine’ – Storey Times - Public Relations

Council of India (PRCI)

Commenting on the financial performance of Q4 & FY2014, Mr. Pirojsha Godrej,

Managing Director & CEO Godrej Properties Limited, said:

“Our performance for the year underlined the effectiveness of our resilient and differentiated

business model and strong execution. We sustained growth in a challenging environment

with revenues, EBITDA and net profit growing by 20%, 21% and 15% respectively in

FY2014. I am delighted to share we have delivered GPL's highest ever quarterly sales with

total booking value in Q4 FY14 increasing by 149% QoQ to INR 1066 crore.

We expect FY2015 to be an exciting year for GPL with major launches planned in all the top

real estate markets of India.”

Financial Overview (Consolidated) FY2014 performance overview (Compared with FY2013)

Total income increased by 20% to INR 1254.2 crore from INR 1047.6 crore

EBITDA increased by 21% to INR 357.6 crore from INR 296.3 crore

Net profit increased by 15% to INR 159.4 crore from INR 138.4 crore

EPS amounted to INR 8.62 as compared to INR 8.21

4

Q4 FY2014 performance overview (Compared with Q4 FY2013)

Total income increased by 39% to INR 435.6 crore from INR 313.9 crore

EBITDA stood at INR 82.3 crore as compared to INR 100.4 crore

Net profit stood at INR 48.3 crore as compared to INR 53.2 crore

EPS amounted to INR 2.43* as compared to INR 3.16*

*Not annualised

- ENDS -

5

About Godrej Properties Limited:

Godrej Properties brings the Godrej Group philosophy of innovation and excellence to the

real estate industry. Each Godrej Properties development combines a 117 - year legacy of

excellence and trust with a commitment to cutting-edge design and technology. Godrej

Properties is currently developing residential, commercial and township projects spread

across 9.3 million square meters (100 million square feet) in 12 cities.

Godrej Properties has always embraced the notion that collaboration is the essence of

excellence. To that end, we have worked with the best designers, architects and contractors

within India and around the globe to deliver imaginative and sustainable spaces. By bringing

together the best talent in the global real estate sector, Godrej Properties works to create

developments that will last into the future, and foresee the needs of each and every resident.

In the last few years, Godrej Properties has received over 60 awards and recognitions,

including “Popular Choice - Developer of the Year” award by ET NOW in 2013 and “Best

Business Practice in Real Estate” for the year 2012 by Accommodation Times.

For further information please contact: Rajendra Khetawat / Karan Bolaria

Godrej Properties Limited

Tel: +91 22 6651 0200

Fax: +91 22 2207 2044

Email: [email protected]/

[email protected]

DISCLAIMER:

Some of the statements in this communication may be „forward looking statements‟ within

the meaning of applicable laws and regulations. Actual results might differ substantially from

those expressed or implied. Important developments that could affect the Company‟s

operations include changes in the industry structure, significant changes in political and

economic environment in India and overseas, tax laws, import duties, litigation and labour

relations.

---

Anoop Poojari / Vikram Rajput

CDR India

Tel: +91 22 6645 1211/ 1223

Fax: +91 22 6645 1213

Email: [email protected]/

[email protected]

RESULTS PRESENTATION

Fourth Quarter, Financial Year 2014

DISCLAIMER

Some of the statements in this communication may be 'forward looking statements' within the

meaning of applicable laws and regulations. Actual results might differ substantially or materially

from those expressed or implied. Important developments that could affect the Company's

operations include changes in industry structure, significant changes in political and economic

environment in India and overseas, tax laws, import duties, litigation and labor relations

02 I GODREJ PROPERTIES I RESULTS PRESENTATION Q4 FY14

AGENDA

01Overview

FY14 Highlights 02

Q4 Operational Highlights 03

Q4 Financial Highlights 04

Annexure 05

� Established in 1897

1� $ 4.1 billion in annual revenue

2� 500 million people use a Godrej product every day

nd 3� Godrej ranked as 2 most trusted Indian brand

4� $2.8 billion brand valuation by Interbrand

� Amongst India�s most diversified and trusted

conglomerates

� Real estate identified as one of the key growth

businesses for the Group

GODREJ GROUP

Value Creation for Investors

13 Year CAGR

Godrej Consumer

Products

Godrej Industries

(%)

37

44

16

Note: CAGR calculated for closing prices as of 18th June, 2001 and 31st March, 2014

BSE SENSEX

Godrej & Boyce Godrej Industries Godrej Properties Godrej AgrovetGodrej Consumer


1. Group Revenues in FY13

2. Godrej Group internal study

3. The Brand Trust Report 2013

4. Interbrand study done in 2011

Limited

GODREJ PROPERTIES

3.7, 2

2.3, 1

0.8, 1

2.8,1 6.3, 4Nagpur

Mangalore

Chennai

Kochi

Kolkata

0.7, 1Chandigarh

5.9, 4NCR

22.8, 1Ahmedabad

17.3, 17Mumbai

18.3 , 5Pune

10.0, 2Hyderabad

10.6, 7Bangalore Est. Total Developable Area** (million sq.ft.)

No. of Projects: 46

**Total area under the project, irrespective of revenue/profit/area sharing arrangement

(As on 31st March, 2014)

Legends:

BENGALURU GURGAON MUMBAI


� Established in 1990

� Presence in 12 cities across India

� Real estate worth over 5,000 crore sold in the past two years

� 100 million sq.ft. of real estate to develop across India

� Differentiated asset-light business model

� 60 awards received in the past 5 years

Godrej Brand

� Strong independent Board committed to best practices of corporate governance with focus on investor interests and shareholder value

� GPL benefits from trust amongst stakeholders in realty market that is characterized by opaque practices

Corporate

Governance

� Confidence of capital markets: Demonstrated by successful IPO, IPP, Residential Co-investment Platform and Rights issueAccess to

Capital � Project level equity dilution to mitigate risk and remain capital efficient

� Low bank funding rates for GPL

STRENGTHS

nd 1� Godrej ranked as the 2 most trusted Indian brand in the 2013 Brand Trust Report

1. Brands ranked higher than Godrej: Nokia, Samsung, Sony, BMW & Tata Tea

2. Based on Godrej Group Internal Study

3. Total saleable area under projects, irrespective of the revenue / profit / area sharing arrangement. Includes 5.00 mn sq.ft. of saleable area for township in Bangalore

where the partnership agreement was signed in March 2014, but the registration and announcement happened in the first week of April 2014

� GPL brings the Godrej brand�s reputation for trust and quality to the real estate sector

3� Added 16 projects with ~ 20.9 million sq.ft. saleable area in the last eight quarters

� Access to Group�s land bank across India (e.g. Vikhroli)

Strong

Project

Pipeline

Effective

Land Sourcing

Model

� Competitive advantage in executing joint development projects

2� 500 million people use a Godrej product every day

� Asset light, capital efficient and high ROE development model


STOCK PERFORMANCE

Based on closing prices from 4th Jan 2010 to 31st March 2014;

IPO price adjusted to factor in Rights issue price and stock split

Source: BSE

GPL stock has substantially outperformed the BSE Realty Index since its IPO in 2010


Returns since IPO listing :–

GPL : | SENSEX : | BSE Realty: – 7% 27% – 62%

GPL

BSE REALTY

SENSEX

0

20

40

60

80

100

120

140

160

180

200

Ma

r-1

4

The Board is strongly committed to best practices of corporate governance with a

focus on investors interests and shareholder value

CORPORATE GOVERNANCE

Keki B. Dadiseth

The Independent Directors on the GPL Board are:

Lalita D. Gupte Pritam Singh

Served as Chairman of Hindustan Unilever Limited and as Director and Member of the Executive Committee at Unilever PLC and Unilever NV

Fel low of the Inst itute of Chartered Accountants of England & Wales

Holds Board positions at The Indian Hotels Co. Limited, Britannia Industries Limited, Piramal Enterprises Limited and Siemens Limited. Holds Advisory positions at A c c e n t u r e S e r v i c e s P v t L i m i t e d , Pricewaterhouse Cooper Pvt. Limited, Indian School of Business and World Gold Council

Chairman of the convening board of Marsh & Mclennan Inc. India

S. Narayan

Pranay Vakil

Amitava Mukherjee

Amit B. Choudhury

Serves on the Board of Godrej Industries

Limited, Vora Soaps Limited, Wadala

Commodities Limited and Godrej Agrovet

Limited

Chairperson of ICICI Venture Funds

Management Company Limited

Board position: Bharat Forge, Sesa Sterlite.

and Kirloskar Brothers Limited

Chairman of Praron Consultancy India Pvt. Ltd

Associated with FICCI Real Estate Committee

Served as Chairman of Knight Frank India

Served as the Director at IIM Lucknow. Serves

as Director of Hero MotoCorp Limited,

Parsvnath Developers Ltd and also member

on the local board of Reserve Bank of India

Conferred 'Padma-Shri', one of India`s highest

civilian honors in 2003

20 years of Investment Banking experience

Served as Managing Director and Board

member both at Lazard India and Ambit

Corporate Finance

Served as Economic Advisor to the Prime Minister of India

Serves on the Board of Directors at Apollo Tyres Limited and Dabur India Limited


AGENDA

02Overview 01

FY14 Highlights



Annexure 05


FY14 HIGHLIGHTS

Business Development Highlights � Added 8 new projects with 13.42 million sq.ft. of saleable area in FY14

Sales Highlights� Registered booking value of INR 2,438 Cr despite adverse market conditions

� Highest ever sales in a single quarter - Surpassed INR 1,000 Cr in quarterly sales in Q4 FY14

Capital Raising � Raised INR 700 Cr through Rights Issue

� Issue oversubscribed despite a tough macro-economic environment

Dividend Decleration� The Board has recommended INR 2 per equity share of INR 5 each to be

paid as final dividend

Other Highlights� 28 Awards received by GPL in FY14

� Delivered 624 homes in Phase 1 of Godrej Garden City, Ahmedabad

DESPITE A TOUGH YEAR FOR THE SECTOR,GPL DELIVERED STRONG GROWTH IN FY14

Total Income growth of 20%, EBITDA growth of 21%, PBT growth of 20% and Net Profit growth of 15%

TOTAL INCOME EBITDA

1,048

FY13 FY14

358

PBT PAT (After minority interest)

289

20%

138


1,254

296

347159

All Values in INR Cr.

15%

20%

21%

FY13 FY14 FY13 FY14

FY13 FY14


Added 8 new projects with 13.42 million sq.ft.* of saleable area in FY 14

CONTINUED SUCCESS IN BUSINESS DEVELOPMENT

Okhla, New Delhi 0.85 Revenue share � 52.5%

Whitefield, Bengaluru 1.00 DM Fee � 11% of Topline

Sector 88A/89A, Gurgaon 1.20 Profit share � 38%

Bhandup, Mumbai 0.77 Revenue share � 56.5%

Vikhroli, Mumbai 0.80 DM Fee � 10% of Topline

Keshav Nagar, Pune 2.80 Profit share � 35%

Devanahalli, Bangalore* 5.00 Profit share � 50%

Padur, Chennai 1.00 Profit share � 44.5%

ParticularSaleable Area

(mn sq.ft.)Business Model

Okhla, New Delhi & Sahakar Nagar 2, Mumbai

Considerably reduces GPL�s peak investment in the projects

Consistent fee generation for the duration of the project

Upfront premium of INR 40 Cr to GPL from Sahakar Nagar 2 project

First two projects added under the Residential Co-investment Platform

* Includes 5.00 mn sq.ft. of saleable area for township in Bangalore where the partnership agreement was signed in March 2014,

but the registration and announcement happened in the first week of April 2014


CAPITAL RAISING

Rights Issue of INR 700 crore oversubscribed in a difficult

macro-economic environment

• Raised INR 700 Cr through a Rights Issue

• Issue was oversubscribed

• Demonstrates GPL’s ability to successfully raise capital

• Strengthened GPL’s financial position and ability to add projects across India

Transaction Highlights

Launch Date 28-08-2013

Record Date 20-08-2013

Allotment Price (INR) INR 325

Basis of Offer (Ratio) 8 shares for every 29 shares held on Record Date

Shares issued 21,538,388 equity shares of Face Value INR 10

Capital Raised (INR Cr) 700

Summary Transaction Terms


• Ranked in the Real Estate and Construction sector 1st

• Ranked amongst top companies to work for in India for 25

the second consecutive year

• Our employee engagement score has increased to

81% from 79% in 2012 and 67% in 2011

GREAT PLACES TO WORK

AON HEWITT EMPLOYEE ENGAGEMENT STUDY

EMPLOYEE ENGAGEMENT


GODREJ GARDEN CITY HANDOVER

Delivered 624 homes in Phase 1 of Godrej Garden City, Ahmedabad

GGC Phase 1 Handover Celebration Global Indian International School

School InaugurationFirst Navratri celebrationsSustainability


GODREJ PROPERTIES PROJECT SPECIFIC

GODREJ PROPERTIES RECEIVED 28 AWARDS IN FY 14

NDTV Property Awards, 2013

Best Emerging Developer

Brand Excellence Awards 2013

Brand Excellence Award

World Brand Congress Summit 2013

Master Brand 2013

Indian Realty Awards 2013

Developer of the Year

India's Best Companies to Work For by the Great Places to Work Institute, India in partnership with the Economic Times

Voted as #25 best company to work for in the overall category

#1 Ranked Real Estate Developer

Construction World Architect and Builder (CWAB) Awards 2013

India's Top 10 Innovative Builders

One of the 11 companies in India to have made an outstanding contribution to the green building mission - GreenCo Summit 2013

Sustainability Award – CII

EPC World Awards 2013

Outstanding Contribution in Real Estate

(Residential Project)

Brands Academy Real Estate Awards

Real Estate Developer of The Year

(Maharashtra)

CMO Asia

Ethical Brand For Real Estate

Second Position, Construction Week Awards 2013

Real Estate Company of the Year

Information Week

Diamond EDGE Winner' for Customer

Experience Transformation

Rece i ved by Mr. P i ro j sha Godre j � Construction Week Awards 2013

Real Estate Person of the Year

Received by Mr. Pirojsha Godrej � Sixth GIREM Leadership Awards

Person of the Year 2013

Asia Retail Congress Awards

Most Admired Retail Website

Public Relations Council of India (PRCI)

Gold in the category of Online Newsletter

– Vibrations

Public Relations Council of India ( PRCI)

Silver in the category of In-House Magazine – Storey Times

National Real Estate Award for Excellence in Real Estate for the year 2012 by Accommodation Times*

Best Business Practice in Real Estate

Godrej Garden City

Best Marketing Campaign � Affordable Housing Segment � Paul Writer's Great India Marketing Summit

Affordable housing project for the year - West India � 6th Estate Awards 2013, West India Edition

The Best innovative Marketing Campaign � Golden Mikes Award

Luxury Project of the Year � Bangalore Real Estate Awards 2013

Godrej Platinum, Bangalore

Best 50% Complete Residential Project under Luxury Segment in NCR Region � CNBC AWAAZ Real Estate Awards 2013

Godrej Frontier

Best mid-range housing project of the year � Chennai Real Estate Awards 2013

Godrej Palm Grove

The Boston Society of Landscape Architects

The Trees - Honour Award

6 Star Rating � CRISIL

Godrej Anandam

* Award received in Q1 FY14

Best upcoming project in Bengal � CREDAI Bengal Realty Awards 2014

'6 Star Rating' � CRISIL

Godrej Platinum, Kolkata

AGENDA

03

Overview 01

FY 14 Highlights 02

Q4 Operational Highlights


Annexure 05

KEY OPERATIONAL HIGHLIGHTS

Business Development Highlights

� Added 4 new projects with 9.6 mn sq.ft. of saleable area in Q4 FY14

Sales Highlights

� Highest ever sales in a single quarter - Surpassed INR 1000 Cr in quarterly

sales for the first time in GPL�s history

� Witnessed 3 successful new project/phase launches in two cities

Other Highlights


� GPL received 9 awards in Q4 FY14

� Global Indian International School inaugurated at Godrej Garden City,

Ahmedabad

BUSINESS DEVELOPMENT HIGHLIGHTS

Added 4 projects in 4 separate cities with 9.6 mn sq.ft*. of saleable area in Q4 FY14

� Added GPL's seventeenth project in Mumbai with 0.8 million sq.ft. saleable area

� DM Project � GPL's economic interest is 10% of revenues

� Project expected to comprise of premium residences as well as a small component of convenience retail

Vikhroli, Mumbai


� Added GPL's fourth residential project in Pune with 2.8 million sq.ft. saleable area

� Close proximity to IT parks of Kharadi and Hadapsar

� GPL's economic interest is 35% of profits

� Project will be developed as a premium residential development

Keshav Nagar, Pune

� Added GPL's second project in Chennai with 1 million sq.ft. saleable area

� Excellent connectivity to all key areas in Chennai including the East Coast Road (ECR) and Grand Southern Trunk (GST) Road

� GPL's economic interest is 44.5% of profits

� Project will be developed as a modern group housing residential development

Padur, Old Mahabalipuram Road, Chennai

� Added GPL s seventh project in Bangalore with 5.00 mn sq.ft. saleable area'

� Strategically located between Bangalore International Airport & Hebbal with close proximity to several IT parks and schools

� GPL s economic interest is 50% of profits'

� Project will be developed as an integrated township with a mix of residential units, school, convenience retail and other amenities

Devanhalli, Bangalore*

* Includes 5.00 mn sq.ft. of saleable area for township in Bangalore where the partnership agreement was signed in March 2014,

but the registration and announcement happened in the first week of April 2014

SALES HIGHLIGHTS

Growth

Area Sold* (sq.ft.)

Q4 FY14

Booking Value** (INR Cr)

Q4 FY13

636,702

601

Highest ever sales in a single quarter

Particular FY14 FY13

4,078,241

2,762


1,342,989

1066

161%

149%

2,966,362

2,438

-27%

-12%

111%

77%

Q3 FY14

513,641

428

Q4 FY14 v/s Q3 FY14

GrowthQ4 FY14 v/s Q4FY13

GrowthFY14 v/s FY13

*Includes :

� 29,781 sq.ft. of JVP area in Q4 FY14, 22,136 sq.ft. of JVP area in Q3 FY14 &

38,107 sq.ft. area in Q4 FY13

� 114,929 sq.ft. of JVP area in FY14 & 594,321 sq.ft. area in FY13

**Includes :

� INR 11 Cr of JVP booking value in Q4 FY14, INR 8 Cr of booking value in Q3 FY14 &

INR 13 Cr of JVP booking value in Q4 FY13

� INR 44 Cr of JVP booking value in FY14 & INR 299 Cr of JVP booking value in FY13

Key Developments

�

�

� Godrej Central, Chembur, Mumbai

� Godrej United, Whitefield, Bangalore

Launched in February 2014

GPL's first redevelopment project

Sold over 200 apartments in a single day

Sold 372,358 sq.ft. at an average price of INR 14,332 in Q4 FY14

�

�

Launched in March 2014

Sold over 200,000 sq. ft. within the first week of the launch� �

� Godrej Waterside, Kolkata

Successful monetisation of old commercial asset

Sold 414,980 sq.ft. for INR 167 Cr�

�

� Godrej E-City - Phase 3, Bangalore

Launched in January 2014

Sold 84,889 sq.ft. for INR 40 Cr �

�

PROJECT BOOKING

Residential Projects Booking Value (INR Cr)Booking Area (sq.ft) Booking Value (INR Cr)

Q4 FY 14 Q4 FY 14 FY 14 FY 14

Godrej Central, Chembur 372,358

1Godrej United, Bangalore 222,061

2Godrej Garden City, Ahmedabad 127,116

1Godrej E-City, Bangalore 84,889

3Godrej Summit, Gurgaon 58,257

4Other Projects 40,115

Total (Residential Projects) 904,796

Commercial Projects

Godrej Waterside, Kolkata 414,980

Godrej BKC, Mumbai 18,283

Total (Commercial Projects) 438,193

Grand Total 1,342,989

Booking Area (sq.ft)


4Other Projects 4,930

1. Includes total booking area and total booking value where GPL role is of a Development Manager

2. Includes JVP booking area of 29,781 sq.ft. and JVP booking value of INR 11 Cr in Q4 FY14 & JVP booking area of 104,162 sq.ft. and JVP booking value of INR 37 Cr in FY14

3. Includes JVP booking area of 10,767 sq.ft. and JVP booking value of INR 7 Cr in FY14

4. Includes cancellation in certain projects

372,358

222,061

669,188

222,987

170,426

494,707

2,151,727

485,579

202,101

814,635

2,966,362

126,955

534

127

48

40

48

38

835

167

48

231

1,066

16

534

127

234

103

136

380

1,514

201

505

924

2,438

218

New Project Launches Planned in FY14

Project City

Mumbai

Mumbai

Godrej Links, Ghatkopar Mumbai

Residences at The Trees, Vikhroli

Godrej United

Mumbai

Godrej Oasis Hyderabad

New Phase Launches Planned in FY14

Project City

Godrej Horizon Pune

Godrej Anandam Nagpur

Godrej Platinum Mumbai

Godrej E � City Bangalore

Godrej Palm Grove Chennai

Status Status

Godrej Garden City Ahmedabad

Godrej Summit Gurgaon

Godrej Prakriti Kolkata

LAUNCH TRACKER FY 14

Godrej Platinum, Alipore Kolkata

Redevelopment, Chembur(Sahakar Nagar)

Mumbai

Bangalore


Godrej Central, Chembur

Godrej Sky, Byculla

Note: Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations

Launched

On - Track

Delayed

New Project Added

New Project Launches Planned in FY15

Project City

Mumbai

Mumbai

The Trees, Vikhroli � Residential

Phase 1

Mumbai

Keshav Nagar Pune

New Phase Launches Planned in FY15

Project City

Godrej Platinum Mumbai

Godrej Gold County Bangalore

Godrej Central Mumbai

Godrej Palm Grove Chennai

Godrej Prana Pune

Status Status

Godrej Anandam Nagpur

Godrej Garden City Ahmedabad

Godrej Summit Gurgaon

Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations

LAUNCH TRACKER FY 15

Godrej Prana Pune

Sahakar Nagar 2 Redevelopment,

Chembur

Mumbai


Godrej City, Panvel

Godrej Sky, Byculla

Godrej Oasis Gurgaon

Launched

On - Track

Delayed

New Project Added

Other project / phase launches we hope to achieve in FY15 or H1 FY16:

OMR, Chennai

Oasis, Hyderabad

Devanhalli Township, Bangalore

Godrej City - Phase 2, Panvel

Godrej United � Phase 2, Bangalore

PROJECT PROGRESS UPDATE

Project progress in Q4 FY14

Project progress status at the end of Q3 FY14

Phase total saleable area are in million sq.ft. on top of the bar.

GGC GPL Area (million sq.ft.) Phase 1: 1.00, Phase 1A: 0.09, Phase 2: 0.31, Phase 3A: 0.93, Phase 3B: 0.39,

Phase 3C (B): 0.14, Phase 3D (A): 0.05, Phase 4A: 0.13, Genesis: 0.81: Waterside Tower 2: 0.77


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God

rej F

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2

God

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rakr

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2

God

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God

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Mum

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God

rej F

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God

rej W

ate

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2

God

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16.53% 29.09% 32.34% 20.98% 38.33% 26.17% 32.34% 38.54% 42.31% 18.04% 52.99% 51.70% 50.50% 57.46% 62.96% 63.05% 52.77% 57.69% 75.47% 81.53% 78.50% 79.11% 82.36% 85.50% 87.12% 86.10% 87.32% 96.70% 97.41% 98.36% 95.57% 99.51%

0.05

0.290.18 0.09 0.55 0.07 0.08

0.170.24

0.26

0.370.08 0.86 0.16

0.37 0.13 0.08 0.13

0.14 0.08 0.57 0.1 0.29 0.57 0.5 0.76 0.26

1.2 0.67 0.45 1.27 1.15

11.83%

4.93%4.39%

18.01%

2.72%

16.62%12.43%

10.02%9.57%

36.80%

2.75% 7.70% 9.26%

4.80%

4.89%

God

rej G

enesi

s

75.89%

1.30.00%

6.23%18.47%

15.84%

6.01%

0.11% 6.69% 7.66%5.37%

2.24% 1.07% 3.22% 3.12%

0.45% 0.29% 0.26% 3.30% 0.00%

*Project crossed revenue recognition threshold in Q4 FY14, Project progress as

per revised guidance note on Dec 31, 2013 is as follows:

� Godrej Serenity: 22.67%

� GGC Retail: 17.21%

� Phase 5A Carmel: 14.34%

� Godrej Platinum, Kolkata Phase I: 19.46 %

� Godrej Platinum Kolkata Phase II: 26.52 %

AWARDS AND RECOGNITIONS


� ‘The Trees’ - Honour Award - The Boston Society of Landscape Architects

� ‘Ethical Brand For Real Estate’ - CMO Asia

� ‘The Best innovative Marketing Campaign’- Godrej Garden City - Golden Mikes Award

� ‘Best upcoming project in Bengal’ - Godrej Platinum - CREDAI Bengal Realty Awards 2014

� ‘6 Star Rating’ - Godrej Anandam, Nagpur - CRISIL

� ‘6 Star Rating’ - Godrej Platinum, Kolkata - CRISIL

� ‘Most Admired Retail Website’ - Asia Retail Congress Awards

� ‘Gold in the category of Online Newsletter’ - Vibrations - Public Relations Council of India (PRCI)

� ‘Silver in the category of In-House Magazine’ - Storey Times - Public Relations Council of India (PRCI)

GPL received 9 awards in Q4 FY 14


The Trees Phase 1 received a LEED Platinum pre-certification

COMMITMENT TO SUSTAINABLE DEVELOPMENT

The Leadership in Energy and Environmental Design (LEED-INDIA) Green Building Rating

System is an internationally accepted benchmark for the design, construction and

operation of high performance green buildings

LEED Platinum certification is the highest possible rating for leadership in energy

efficiency and environmental design

LEED-INDIA promotes a whole-building approach to sustainability by recognizing

performance in the following five key areas:

� Sustainable site development

� Water savings

� Energy efficiency

� Materials selection

� Indoor environmental quality

AGENDA

04

Overview 01

FY 14 Highlights 02


Q4 Financial Highlights

Annexure 05

PERFORMANCE METRICS � Q4 FY 2014

Total income split by project

ProjectsTotal Income

(INR Cr)

Key Performance Metrics Q4 FY 14 % Change

Total Income (INR Cr.)

Profit Before Tax (INR Cr.)

PAT (After Minority Interest INR Cr.)

Q4 FY 13

313.9

98.3

53.2

Godrej Waterside, Kolkata 163

Godrej Frontier, Gurgaon

16

Godrej One, Mumbai 70

Godrej Garden City, Ahmedabad

31

Godrej Palm Grove, Chennai

16

436

Total income % split by project


TOTAL

Godrej Serenity, Mumbai

22Godrej Platinum, Kolkata

18

435.6

78.7

48.3

39%

-20%

-9%

Godrej Horizon, Pune

Others

37

63

38%

16%9%

7%

5%

4%

4%

13%

4%

GODREJ WATERSIDE, KOLKATA GODREJ ONE, VIKHROLI

GODREJ GARDEN CITY, AHMEDABAD GODREJ SERENITY, CHEMBUR

GODREJ PLATINUM, ALIPORE, KOLKATA GODREJ FRONTIER, GURGAON

GODREJ PALM GROVE, CHENNAI GODREJ HORIZON, PUNE

OTHERS

PERFORMANCE METRICS - FY 2014

Key Performance Metrics FY 14 % Change

Total Income (INR Cr.)

Profit Before Tax (INR Cr.)

FY 13

1,047.6

288.9

138.4

Total income % split by project


Total income split by project

Godrej One, Mumbai 351

Godrej Platinum, Bangalore 60

Godrej Waterside, Kolkata 197

Godrej Garden City, Ahmedabad 141

Godrej Horizon, Pune 54

1,254TOTAL

Godrej Palm Grove, Chennai 59

Godrej Frontier, Gurgaon 65

Godrej Prakriti, Kolkata 75

1,254.2

347.4

159.4

20%

20%

15%

Others 252

28%

16%

11%6%

5%

5%

5%

4%

20%

GODREJ WATERSIDE, KOLKATA GODREJ ONE, VIKHROLI

GODREJ GARDEN CITY, AHMEDABAD

GODREJ FRONTIER, GURGAON

GODREJ PALM GROVE, CHENNAI GODREJ HORIZON, PUNE

OTHERS

GODREJ PRAKRITI, KOLKATA

GODREJ PLATINUM, BANGALORE

PAT (After Minority Interest INR Cr.)

ProjectsTotal Income

(INR Cr)

CONSOLIDATED FINANCIAL STATEMENTS � P & L

ParticularsFY 2013

(INR Cr)% Change

Total Income

EBITDA

Profit before tax

Profit after tax

Minority Interest

Net Profit after tax

1,047.6

296.2

288.9

197.3

-58.9

138.4

Q3 FY2014

(INR Cr)


Q4 FY 2013

(INR Cr)% Change

313.9

100.4

98.3

71.3

-18.0

53.2

Q4 FY 2014

(INR Cr)

435.6

82.3

78.7

64.1

-15.7

48.3

39%

-18%

-20%

-10%

�

-9%

253.9

97.4

95.0

60.3

-22.9

37.4

20%

21%

20%

20%

�

15%

% Change

72%

-16%

-17%

6%

�

29%

FY 2014

(INR Cr)

1,254.2

357.6

347.4

236.3

-76.9

159.4


CONSOLIDATED FINANCIAL STATEMENTS � BS

EQUITY AND LIABILITIES31-Mar-14

( INR Cr)

UnauditedASSETS

31-Mar-13

( INR Cr)

Audited

31-Mar-14

( INR Cr)

Unaudited

31-Mar-13

( INR Cr)

Audited

c) Long term provisions

b) Other long-term liabilities

a) Long-term borrowing

4) NON - CURRENT LIABILITES

2) SHARE APPLICATION MONEY PENDING ALLOTMENT

b) Reserves and Surplus

a) Share Capital

1) SHAREHOLDERS FUND

5) CURRENT LIABILITIES

c) Other Current Liabilities

b) Trade Payables

a) Short term borrowing

d) Short term provisions

TotalTotal

b) Goodwill on consolidation

a) Fixed Assets

1) NON CURRENT ASSETS

d) Deferred tax assets (net)

c) Non-current investments

f ) Other non-current assets

e) Long-term loans and advances

b) Trade receivables

a) Inventories

2) CURRENT ASSETS

d) Short-term loans and advances

c) Cash and cash equivalents

e) Other current assets

378.74

2.80

0.28

375.66

–

1,428.95

1,350.90

78.05

609.11

820.01

1,287.62

48.49

2,765.23

4,678.84

127.26

2.15

0.00

20.89

104.64

6,146.72

3.38

258.33

294.22

836.42

871.01

159.96

3,726.79

5,888.39

3) MINORITY INTEREST 105.92

290.08

2.88

1.12

286.09

1,793.40

1,694.28

99.12

956.86

704.30

2,142.94

56.08

3,860.17

6,146.72

203.06 155.65

4.28

0.00

36.13

50.00

4,678.84

10.81

256.87

240.66

670.43

170.72

104.97

3,235.19

4,421.97

–

FINANCIAL ANALYSIS

FY 2013

EBITDA / Total Income* 28.3%

PBT Margin % 27.6%

Net Profit Margin % (After minority interest)

13.2%

PARTICULAR

Net Debt (INR Cr)

Net Debt / Equity Ratio

Average Borrowing Cost (YTD)

PARTICULAR

Leverage Indicators

Profitability Indicators

As on Mar - 13As on Mar - 14

FY 2014

28.5%

27.7%

12.7%

1,700

0.95

11.34%


Q4 FY 2013

32.0%

31.3%

17.0%

Q4 FY 2014

18.9%

18.1%

11.1%

1,497

1.05

11.74%

Q3 FY 2014

38.4%

37.4%

14.7%

As on Dec - 13

1,531

0.69

11.43%

* Q4 FY14 witnessed moderation in margins due to successful sale of old commercial projects

AGENDA

05

Overview 01

FY 14 Highlights 02



Annexure

A. RESIDENTIAL PROJECTS

1 Godrej Garden City* Ahmedabad Residential 19.68Phase I to IV: Area Based � 73.6%

Phase V onwards: Revenue Based � 67.6%Ongoing

2

Tumkur Road Bangalore Residential 0.79 Revenue Based � 78.0%

3

Godrej Platinum Bangalore Residential 0.6GPL owns 49.0% Equity in project

specific companyOngoing

4

Godrej Gold County Bangalore Residential 0.29 Revenue Based � 63.0% Ongoing

5

Godrej E � City Bangalore Residential 1.00 DM Fee � 11.0% of Revenue Ongoing

6

Godrej Crest Bangalore Residential 0.09 Revenue Based � 59.0% Ongoing

7

Godrej Palm Grove Chennai Residential 2.51Area Based � 70.0% (for 12.57 acres),68.0%

(for 4.82 acres) Ongoing

8

Godrej Summit Gurgaon Residential 2.04Area Based � 65.0%, GPL holds 51.0%

Equity in project specific companyOngoing

9

Godrej Oasis Gurgaon Residential 1.2 Profit Sharing � 32.0% Ongoing

10

Godrej Frontier Gurgaon Residential 0.82 Revenue Based � 70.0% Ongoing

11

12

S.No Project Name Location Asset ClassEst. Saleable

Business Model StatusArea (mn sq.ft.)


Godrej United Bangalore Residential 1.00 DM Fee � 11.0% of Revenue Ongoing

* Primarily a residential project with a portion of commercial saleable area ** Applied for permission to convert commercial saleable area of the project to residential saleable area

Forthcoming

Godrej Oasis** Hyderabad Residential 4.87 Land is owned by GPL Forthcoming

Devanahalli Bangalore Residential 5.00 Profit Sharing - 50% Forthcoming

Padur, OMR Chennai Residential 1.00 ForthcomingProfit Sharing - 44.5%

14

13




22

21

18

Kalyan Township Mumbai 0.48 Revenue Based � 95.0% ForthcomingResidential

Godrej Platinum Mumbai 0.62 DM Fee � 10.0% of Revenue OngoingResidential

20

Godrej City Mumbai 4.30Profit Based � 35.0% with upside promote to JV partner above Rs.1,000 GPL PBT per sq.ft.

ForthcomingResidential


Godrej Central Mumbai 0.68Revenue Based 87.5%. GPL owns 51.0% of

equity in the project specific company OngoingResidential

19 Godrej Alpine Mangalore Mixed Use 0.64 Area Based for residential area � 71.5% Ongoing

17

Kochi Project Kochi Residential 2.24 Revenue Based � 70.0% Forthcoming

Godrej Prakriti Kolkata Residential 2.20 Ongoing

Godrej Platinum Kolkata Residential 0.17 Revenue Based � 45% Ongoing

GPL � 51.0% Equity in project specific

company

15

16

Bhandup Mumbai Residential 0.77 Revenue Based - 56.5% Forthcoming

G&B Moosapet Hyderabad Residential 2.22 ForthcomingDM Fee � 10.0% of Revenue

23

The Trees Mumbai 0.88 Profit Based � 60.0% ForthcomingMixed Use

G&B, Vikhroli Mumbai 0.80 DM Fee - 10% of Revenue ForthcomingResidential

24

Godrej Sky Mumbai 0.30 ForthcomingResidentialDM Fee Rs 50 cr, with upside promote to GPL above certain price threshold

25

G&B Lawkim, Thane Mumbai 0.27 Profit Based � 32.0% ForthcomingResidential

26

27

28


S.No Project Name Location Asset Class Est. Saleable Business Model StatusArea (mn sq.ft.)

1. Increase in area due to change in DCR regulations

32

Godrej Horizon

Godrej Prana

Pune

Pune

Residential

Residential

0.54

1.50

Profit Based � 51.0%

GPL Profit Share 40.0%

Ongoing

Ongoing

31

Bhugaon Township Pune 9.44Share in project specific company 11.09%,

Development manager fee Rs 162/sq.ft.,

Profit sharing if profits exceed certain threshold


Godrej Anandam Nagpur 2.76PMC Fee Rs 400/sq.ft. for 7.7 lac sq.ft. RevenueBased agreement for remaining area : First 1 million sq.ft. 62.0% (GPL) & next 1 million sq.ft. 57% (GPL)

OngoingResidential

30

Godrej Edenwoods Mumbai 0.03Profit Based � 50.0% (from 85.0% of revenue for this project)

OngoingResidential

29

Sundar Sangam Mumbai 0.10 GPL to construct space for society in lieu of saleable area


Sahakar Nagar 2 Mumbai 0.7591.0% Revenue Sharing (GPL owns 51%

of equity in the project specific company) ForthcomingResidential

Godrej Links Mumbai Residential 0.19GPL to construct space for society in lieu of saleable area

Forthcoming

34

33 Mumbai Residential 0.12 ForthcomingCurrey Road DM Fee 10.0 % of Revenue


35

36

Godrej Platinum NCR Residential 0.85Revenue Based � 52.5% (GPL owns 25.1% of equity in the project specific company)

Forthcoming

1Godrej Palms Mumbai 0.13 Area Based � 47.5% OngoingResidential

37

Keshav Nagar Pune Residential 2.80 Profit Sharing - 35% Forthcoming

1Godrej Serenity Mumbai 0.18 Revenue Based � 50.0% OngoingResidential

38

39

40

41

B. COMMERCIAL PROJECTS

1 Godrej Garden City* Ahmedabad Residential 2.40First 1 million sq.ft. � 63.6% Revenue Based

Subsequent area � 67.6% Revenue BasedOngoing

2 Godrej Eternia Chandigarh Commercial 0.5 Revenue Based � 54% Ongoing

3 Godrej Oasis** Hyderabad Residential 0.44 Land is owned by GPL Forthcoming

4 Godrej Prakriti Kolkata Residential 0.42GPL owns 51.0% Equity in project

specific companyForthcoming

5 Godrej Waterside Kolkata Commercial 1.81 Area Based � 61.0% Ongoing

6 Godrej Genesis Kolkata Commercial 1.34 Area Based � 62.0% Ongoing

7 Godrej Alpine Mangalore 0.25Revenue Based � 71.5% for commercial area

8 The Trees Mumbai 2.62 Profit Based � 60.0% Ongoing

9 Godrej BKC Mumbai Commercial 1.20 Profit Based � 50.0% Ongoing

10 Kalyan Township Mumbai Residential 0.06 Revenue Based � 95.0%

Forthcoming

11 Bhugaon Township Pune Residential 2.36

Share in project specific company 11.09%,

Development manager fee INR.162/sq.ft.,

Profit sharing if profits exceed certain

threshold

Forthcoming

Residential

Residential



12 Godrej Genesis Pune Commercial 0.48GPL owns 51.0% of equity in project

specific company, Revenue Based 58.0%Forthcoming


* Primarily a residential project with a portion of commercial saleable area ** Applied for permission to convert commercial saleable area of the project to residential saleable area

Forthcoming

Rajendra Khetawat / Karan BolariaGodrej Properties LimitedTel: +91 22 6651 0200Fax: +91 22 2207 2044 Email: [email protected]/ [email protected]

For further information, please contact:

THANK YOU

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