SHRIRAMPPSNSE14 February 2023

Shriram Properties Limited has informed the Exchange about Investor Presentation

Shriram Properties Limited

February 14, 2023

National Stock Exchange of India Limited The Listing Department Exchange Plaza, 5th Floor Plot C 1 – G Block Bandra-Kurla Complex, Bandra ( E) Mumbai 400 051 Scrip Code: SHRIRAMPPS

Dear Sir/Madam,

Sub: Investor Presentation

BSE Limited Dept of Corporate Services Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai 400 001 Scrip Code : 543419

Further to our intimation on February 13, 2023 and pursuant to Regulation 30 read with Schedule III Part a Para a of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the presentation to be made to the Analyst / Investors on the Unaudited Financial Statements for the quarter ended December 31, 2022.

We request you to take the above information on record.

Thanking you.

Regards

For Shriram Properties Limited

D. Srinivasan

Company Secretary

FCS 5550

Shriram Properties Limited Q1FY23 Results Presentation Shriram Properties Limited Q3FY23 Results Presentation August 2022 1 February 2023

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shriram Properties Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward- looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the healthcare industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

Shriram WYTFIELD

Residential RE Sector Overview

Robust Sector Dynamics; Housing Demand Strong

• Strong sequential growth in demand across top markets (+28% YoY

KEY EMERGING TRENDS – Largely remain intact

in CY2022)

• Supply growth robust as well (+15% YoY in CY2022)

• Pan India inventory on downward spiral - @ 12 months in Dec’22

• Demand outlook remains strong, esp. in mid-market & affordable

segments

• Prices across Tier-1 cities grew between 2%-33% YoY

•

Impact of rising interest rates modest, housing loan demand strong

• Housing affordability remains favorable, despite rate hikes

•

Large branded players continue to dominate

• Plotted developments in high demand

• Positive outlook for pricing, supported by strong demand, cost

considerations and consolidation impact

• Affordable segment witnessed highest drop in inventory

• Mid-market segment seeing highest share of launches

Tier – 1 Cities Absorption, Supply & Inventory Trends

________________ Source: Propequity India’s Real Estate Outlook – 2022

Pricing & Segment wise Trends 2022– Core Markets

Bengaluru

Chennai

Kolkata

SPL’s Core Markets’ Trends

• Strong growth in launches and absorption seen across SPL’s core

markets – Bengaluru, Chennai and Kolkata

•

Inventory levels in Bengaluru is among lowest across Tier-1 cities

• Chennai and Kolkata inventory levels have reduced

• Average Price increase for CY2022 at

− 6% in Bengaluru (+9% YoY in Q3 2022)

− 15% in Chennai (+16% YoY in Q3 2022)

− 13% in Kolkata (+21% YoY in Q3 2022)

• Affordable and mid-market segments account for 70-83% of supply and

74%-86% of absorption in Bengaluru, Chennai & Kolkata

Bengaluru : Absorption & Supply Trends

Chennai : Absorption & Supply Trends

Kolkata: Absorption & Supply Trends

________________ Source: Propequity India’s Real Estate Outlook – 2022

Shriram 107 Southeast

Operational Highlights : Q3 & 9M|FY23

________________ Note: Data presented herein reflects aggregate for the Company, covering all projects under all development formats viz., Own, JV/JDA and the DM

Key Highlights & Developments – 9MFY23

Operational Performance

Project Execution

•

Highest-ever 9M sales, both Volume and Value

•

Handed-over 1200+ units, apart from ~400 plots

1.0+ msf quarterly sales run rate

• On-track to hand-over ~2,000 units in FY23; to drive

• Q4 stronger, backed by multiple launches underway

strong income recognition

•

DM Project share strong at 22% of 9M Sales

Strong collections from existing sales; New sales collections consistent with launch trends

Financial Performance

Strong earnings growth; Sequential quarterly improvement in 9MFY23 − Q3 Net Profit at Rs.22.4 crores, up 69% YoY and 14% QoQ

− 9M Revenues grow 2.4x YoY and EBITDA up 59% YoY Enhanced scale and operating leverage, rising DM and cost control supporting profitability

• Net profit at Rs.52.4 crores for 9M; 2.9x FY22 levels

•

Remarkable reduction in interest costs, YoY & QoQ

•

• •

•

Completed 7 projects (3 residential and 4 plotted, with total saleable area of 3.8 msf) in 9MFY23

Strong registrations momentum in recently completed projects - Southern Crest & Grand One

Business Development & Project Pipeline

Added 10 projects with 8.1msf area during 9M Pipeline has 51 projects w/ ~53 msf dev. Potential − Includes 23 msf across 23 projects in ongoing projects ASK co-Investment platform taken-off well − First project launched in Feb’23 (‘Shriram Pristine Estates’) − 2 new projects under evaluation LOGOS deal nearing completion; Likely closure during Q4FY23/Q1FY24 Xander Gateway Office DM completed – to deliver Rs.1.3 billion of cashflows in tranches

KPI Trends : 9MFY23

Pre-Sales Volume (msf)

Sales Value (Rs. Mn.)

2.7

2.6

3.8

13,524

14,824

35%

10,033

9MFY23

9MFY22

FY22

9MFY23

9MFY22

FY22

Gross Collections (Rs. Mn.)

Construction (Rs. Mn.)

12,631

6,435

8,871

9,024

3,774

4,228

9MFY23

9MFY22

FY22

9MFY23

9MFY22

FY22

Strong operational performance across KPIs; Business on track to meet FY expectations

KPI Trends : Q3|FY23

Sales Volume (Msf*)

Sales Value (Rs. Mn.)

Avg. Realisation1 (Rs. psf)

+3%

1.01

1.04

+39%

6,054

4,345

4,344

4,510

Q2FY23

Q3FY23

Q2FY23

Q3FY23

Q2FY23

Q3FY23

✓ Sales volume up 3% QoQ to 1.04 msf, despite 2 launches deferred to Jan/Feb’23

✓ Sales value grew 39% QoQ to Rs. 6,054 Mn in Q3, compared to Rs. 4,345 Mn in Q2FY23 on the back of

increased share of apartment sales

✓ Unit Realisation significantly higher – both for Plots and Apartments

✓ Collections and construction stable, on track in terms of monthly run-rates

✓ Handed over 530 completed units and 80+ plots in Q3; Cumulative over 1,600 units in 9M

✓ On-track for handing over ~2,000 units, driving income recognition potential in FY23

______________________ • Msf = Million Square Feet 1. Weighted average realization of both plots and apartments

Q3 Launches deferred, but already in EOI/Launch stage…

✓ Certain planned launches for Q3 deferred to Q4 due to delay in obtaining approvals

✓ 2 projects with 1.2 msf saleable area deferred to Q4; Could have supported Q3 volumes significantly

✓ 4 projects ready to launch now; At EOI/Pre-launch and launch stage

• Shriram Pristine Estates (0.80 msf saleable area), plotted development in North Bangalore

• Shriram Chirping Ridge (0.46 msf saleable area), plotted development in Sarjapur

• Shriram Solitaire (0.23 msf saleable area), apartment project in North Bangalore

• Shriram Poem (0.65 msf saleable area), apartment project in West Bangalore

✓ Commenced pre-launch and Expression of Interest (‘EOI’) activities in Jan’23;

•

Initial response has been encouraging and is expected to generate strong volumes in Q4

• Shriram Pristine Estates launched during first week of Feb’23 and witnessed strong interest

✓ Additional 3 launches in the pipeline for Q4FY23, one each in Bangalore, Chennai and Kolkata, subject to approvals

… Encouraging Response to Ongoing Launch Activity

Glimpse of Pristine Estates Launch Event

✓ Shriram Pristine Estates, Plots, Bengaluru

- Received strong EOI response in Jan’23

- Formal Launch during first weekend of Feb’23

- 50+ bookings with 86,000+ sft sold already

✓ Shriram Chirping Ridge, Plots, Bengaluru

- Over 100 EOIs received so far

- Formal launch in Feb’23

✓ Shriram Poem, Apartments, Bengaluru

- Formal launch in Feb’23

✓ Shriram Solitaire, Apartments, Bengaluru

- Formal launch in Mar’23

✓ Additional 2-3 launches in Bengaluru, Chennai and

Kolkata

- Awaiting final approvals

Initiated market warm-up with EOIs

- Likely launch by 2H-Mar’23

Sales-at-launch Trends: 9MFY23

9M FY23 Launches

Type

Launch

Launch Area

Sold at launch

% sold

Park63 (2B)

New

Jun’22

376,207

80,764

Shriram Golden Acres1

Phase

Aug’22

241,646

72,313

Eden 144 – Phase 21

Phase

Sep’22

240,169

187,140

# of project launches

7 new projects & 2 new phases of ongoing projects

9MFY23

FY18

FY19

FY20

FY21

FY22

FY23e

21%

30%

78%

43%

Area (sft)

Average Sales-at-launch* (% of project launched)

Q4FY23 Launch Calendar

Projects

Ownership Type

Dev. Type

Shriram Pristine Estates

Shriram Chirping Ridge

Shriram Poem

Shriram Solitaire

Prime Life Spaces

Own

JDA

Launch Timeline

Launched in Feb’23

Impressive Sales-at-Launch

800,000

52%

48%

43%

Feb’23

466,550

35%

38%

34%

Plots

Apartments

Feb’23

654,000

Apartments Mar’23

226,130

Apartments Mar’23

1,000,000

FY18

FY19

FY20

FY21

FY22

9MFY23

Koramangala ____________________________________________________________________ * Sales-at-launch = Actual sales during first 90-days of launch;

JDA

Apartments Mar’23

134,000

Couple of planned launches delayed for approval needs, ready-to-launch in Q4FY23 6-7 launches planned for Q4FY23, supported by strong project pipeline

Encouraging Pricing Trends: Realisation up 7% from Mar’22 levels

Price Increase by Project – Top Projects only

Project

Development Type

Realisation Mar’22

% Change from Sep’21

Realisation Dec’22

% change from Mar’22

SouthEast Phase 2

Apartments

Southern Crest

Apartments

WYTfield – Phase 1

Apartments

WYTfield – Phase 2

Apartments

Chirping Grove

One City – 1

One City – 2

Villas

Plots

Temple Bells (IV)

Apartments

Sanjeevini

Apartments

Park 63(1A)

Apartments

Park 63(2A)

Apartments

Grand One

Apartments

Sunshine One

Apartments

Sunshine Two

Apartments

4,294

6,762

5,309

5,329

6,438

3,521

1,474

3,966

3,980

6,600

6,318

3,863

3,875

3,752

10%

-2%

13%

10%

19%

18%

10%

5,268

7,439

5,742

5,670

6,462

3,700

1,518

4,122

4,270

7,514

6,114

4,095

4,125

4,126

23%

10%

14%

-3%

10%

9MFY23 Increase in Average realization on comparable basis

H2 FY22 Increase in Average realization

Realizations Trends by Development Type (Rs/Sqft)

2 4 9 5

9 5 9 5

0 7 1 5

4 9 3 4

3 5 1 4

0 0 9 3

5 6 0 3

9 8 7 2

6 2 0 2

✓ SPL avg realisation up ~7% in 9MFY23, beyond the ~8% hike seen in H2FY22

✓ More than offset temporary cost inflation seen in Q1FY23

✓ Strong demand trends supportive of price hikes; Industry consolidation adding strength

✓ Industry-wide price improvement seen since Sep-Oct’21 and trend continued during 2022

✓ Uptrend in pricing seen across all our core market segments during the 9MFY23

Plots

Affordable

Mid-Market

H1FY22

H2FY22

9MFY23

Shriram Southern Crest

Financial Highlights : Q3|FY23

Financial Highlights: Q3 & 9M|FY23

o Strong earnings growth story – sequential quarterly improvement in 9MFY23

o Impact of improving operating leverage and project execution as well as rising share of

DM supporting robust financial performance

o Revenue recognition from key projects building momentum. Should help deliver

stronger revenues and earnings in coming quarters

o Strong operational momentum and business lead indicators reinforce confidence on

delivering stronger earnings and profitability in FY23.

o On track for delivering full year performance, in line with guidance

o Significant progress in ongoing efforts to reduce cost of debt

Financial Highlights : Profit & Loss|Q3 & 9MFY23

Total Revenues Rs. 2,220 Mn

71% YoY

Interest Expense Rs. 145 Mn

42% YoY

Net Profit Rs. 224 Mn

69% YoY

_________________ * Includes DM fee of INR 154 Mn, INR 299 Mn, INR 441 Mn, INR 622 Mn and INR 1,043 Mn in Q3FY23, Q3FY22, 9MFY23, 9MFY22 and FY22 respectively 1. Rounded off to nearest whole number

Growth momentum continues; Business on track to meet FY expectations

Particulars (Rs. Mn)1Q3 FY23Q3 FY22YoY (%)9M FY239M FY22YoY (%)FY22 Revenue from operations* 1,758 1,096 60% 5,566 2,278 144% 4,329 Other income 462 205 864 535 849 Total Revenues 2,220 1,301 71% 6,430 2,813 129% 5,178 Cost of revenue 1,324 460 3,899 1,063 1,823 Employee benefit expense 195 175 595 520 730 Other expenses 194 134 560 367 807 Total Operating Expenses 1,712 769 123% 5,054 1,950 159% 3,360 EBITDA 508 532 -5% 1,376 863 59% 1,818 Finance Costs 227 301 -25% 755 940 -20% 1,199 - Interest expense 145 249 -42% 523 773 -32% 940 - Unwinding Impact (non-cash charge) 56 53 164 152 205 - Other finance costs (net of finance income) 26 (1) 68 15 54 Depreciation 20 14 58 48 66 Profit before share of JV Income/(Loss) 260 217 20% 562 (125) 552 Add: Share of profit/(loss) of JVs (38) (46) 15 (231) (226)Profit Before Tax 222 171 30% 578 (356) 326 Tax expense (1) 38 54 112 146 Net Profit 224 132 69% 524 (468) 180 Financial Highlights (contd.): Profit & Loss|Q3FY23

Q3FY23 - Sequential quarterly improvement in net earnings

❑ Revenue from operations up 60% YoY, reflects impact of new projects reaching revenue recognition

•

Completion certificate (OC) received in Southern Crest (Bangalore) and Grand-1 (Kolkata)

Greater handover momentum in Temple Bells and Summit

❑ LO settlements and gain on transfer of development rights in an upcoming project to JV partner added Rs.297 Mn.

Routine project income but classified as other income due AS requirements.

❑ EBITDA margins at 22.9% in Q3, compared to 18.6% in Q2FY23 and 40.9% in Q3FY22.

•

Absolute EBITDA growth YoY is muted, due to higher base of last year

Higher base of last year (Q3FY22) attributed to income recognition in a high margin JDA plotted development project (Santorini)

❑ Overall finance cost lower 25% YoY; Interest expense down 42% YoY at Rs.145 Mn in Q3FY23

•

Unwinding impact of Bengal 4% GoWB liabilities stable at Rs.57 Mn in Q3

Despite refinancing costs associated with Shankari (shifted from NBFC to Bank, delivering interest savings of 4.30% p.a.)

❑ PBT higher by 20% YoY at Rs.260 Mn

❑ Share of JV negative - Positive contribution from income recognition at Park63 (residential JV with Mitsubishi Corpn.) masked by renewed campaign/marketing costs at 2 other JVs (WYTfield & 107 South East) that have not reached income recognition threshold

❑ Net Profit at Rs.224 Mn, up 69% YoY and 14% higher sequentially. Rising trend over the quarters continued.

Financial Highlights (contd.): Profit & Loss| 9MFY23

Highest ever 9M performance – Encouraging outcome of continued focus on operational leverage, costs and DM income

❑ Revenue from Operations Up 2.4x YoY to Rs.5.56 Bn and Total Revenues Up 129% YoY to Rs. 6.43 Bn

•

Driven by new projects reaching revenue recognition threshold - Southern Crest, Grand-1 (Kolkata)

87% of 9M revenues from Southern Crest, Grand-1, Shreshta, Summit and Temple Bells (Phase III)

DM remains a key contributor (Rs.441 Mn recognised), to grow further with DM launches lined-up for Q4

Other income includes LO settlements and gain on transfer of development rights in an upcoming project to JV partner, apart from interest on inter-project/JV loans.

❑ Total operating expenses grew by 159% YoY to Rs.5.05 Bn

•

Higher cost of revenue reflects increased area of revenue recognition and project mix led lower base of 9MFY22. Lower base of 9MFY22 is attributed to share of own/JDA plotted development projects viz., Santorini (Bangalore) and Shriram One City (Chennai)

Employee cost higher by 14% YoY, reflecting impact of routine increments and head count increase during the year

Higher other expenses attributed to higher spending in new project evaluations

❑ Absolute EBITDA up 59% YoY to Rs.1,376 Mn, reflects benefits of higher revenue recognition in key projects and plotted units,

improved operating leverage and cost control efforts.

❑ Overall finance cost for nine months lower by 20% YoY

•

Interest costs down by 32% YoY to Rs.523 Mn (vs. Rs.773 Mn in 9MFY22)

Non-cash charge associated with royalty payment to GoWB in Bengal Shriram; Other finance cost reflect refinancing costs

❑ Share of JV Income Positive - Income recognition in Park 63 Ph-1 offset by share of refinancing costs & marketing expenses in 107

Southeast and WYTfield projects pending income recognition.

❑ Net profit at Rs.524 Mn vis-à-vis a full year profit of Rs.180 Mn, reflecting strong sequential quarterly earnings growth

Financial Highlights : Balance Sheet*|9MFY23

Particulars (Rs Mn)1

31-Dec-22

30-Sep-22

31-Mar-22

ROCE Trends (%)

Fixed Assets

Investments and loans

Inventories

Cash and Bank Balances

Other Assets

Total Assets

Less: Liabilities**

Net Assets

Equity

Borrowings

- External Borrowings

- Inter-company borrowings (from JVs)

801

1,162

21,572

769

10,584

34,888

17,362

17,526

11,848

5,678

5,045

633

816

1,062

21,463

1,044

10,713

35,098

18,220

16,878

11,613

5,265

4,788

477

823

1,810

21,882

1,405

10,418

36,338

19,598

16,740

11,309

5,431

4,811

620

10.8% 10.5%

7.0%

5.0%

4.0%

FY19

FY20

FY21

FY22

FY23e

ROCE : Peer Group Comparison (%)***

12%

10%

9% 9%

5% 4%

Total Equity + Borrowings _________________ * Unaudited ** Includes customer advances, trade payables, provisions excl. borrowings *** Data from respective Company financials/presentation; H1FY23 Data annualized for all except Sobha (uses FY22 data) 1. Rounded off to nearest whole number

17,526

16,740

16,878

Strong Balance Sheet with headroom for growth; Improving Debt Equity and ROCE

Financial Highlights: SPL CFS Cash Flows | Q3FY23 (Excl. DM & JV cashflows)

(In Rs Mn)

Collections

DM Income

Other Inflows

Operating Inflow

Construction Spending

Marketing & Admin Costs

Other Operating flows

Operating Outflow

Cashflow from operations

IPO Proceeds

Loan Drawls

Loan Repayment

Net flows from borrowing

Interest expense, net

Other financing cashflows

Cash flow from Financing

FCF before New Project Inv.

Less: New Project Investments*

Net Free Cash Flow

Opening Cash & Cash Equiv. Closing Cash & Cash Equiv.

H1 FY23

Q3 FY23

9M FY23

FY22

2,729

1,124

3,853

5,346

366

3,098

(1,610)

(758)

(150)

1,215

(656)

(332)

(39)

455

4,313

(2,266)

(1,090)

(189)

721

6,073

(3,645)

(1,329)

(36)

(2,518)

(1,027)

(3,545)

(5,010)

580

1,512

(1,666)

(154)

(301)

(51)

(506)

(435)

(361)

1,405 1,044

188

1,701

(1,138)

563

(194)

(37)

332

520

(795)

(275)

1,044 769

768

3,213

(2,804)

409

(495)

(88)

(174)

594

(1,230)

(636)

1,405 769

1,063

2,775

1,059

(3,349)

(2,290)

(807)

(323)

740

(207)

533

872 1,405

Collection Trends SPL Own & JDA / JVs / DM

12,631

3,578

3,707

5,346

8,871

1899

3,118

3,853

6,385

1,335

2,320

2,729

2,486

564 798 1,124

H1FY23

Q3FY23

9MFY23

FY22

Own/JDA

JV's

Grand Total

Key Highlights

✓ Operating cashflows remain strong

✓ Significant new project investments in 9MFY23

✓ Higher construction outflow in line with execution

progress and fueling collections.

✓ Significant repayment, including pre-payments in

the context of ongoing refinancing activities

✓ Overall enterprise cashflows remain strong

_________________ * Includes cash outflows for acquisition of Suvilas Realties and SPL’s share of investment in Shriram Pristine Estates (“JV”) under ASK platform

Ongoing efforts to reduce debt and cost of debt

Gross & Net Debt Trends*

Debt Equity Ratio*

Cost of Debt (%)**

Rs. Mn

10,000

8,000

6,000

8,047 603

4,000

7,444

2,000

6,724

494

6,558

864

6,230

5,694

4,811

1,405

3,407

5,045

769

4,276

0.70

14.1%

13.7%

13.5%

0.36

0.30

12.5%

Mar'19

Mar'20

Mar'21

Mar'22

Dec'22

Mar'20

Mar'21

Mar'22

Dec'22

FY19

FY20

FY21

FY22

9MFY23

Net Debt

C & CE

Gross External Debt

✓ Gross Debt mostly on construction funding at project level

Change in Debt Composition – Sep’21 (RHP) vs Dec’22

✓ Marginal increase in net debt from Mar’22 due to utilization of cash

for acquisition/investments in new projects

✓ Committed efforts to bring down debt/ CoD yielding results

• Repaid Rs.2.0 billion; Refinanced Rs.1.83 Bn SPL debt & Rs.4.8 Bn

JV debt in 9MFY23

• Remarkable shift in focus towards Banks, from NBFC

✓ Increment debt (refinancing) raised in the 9.0-10.5% range

✓ Cost of debt down to 12.5%; despite RBI rate hikes (~ 1.9%)

✓ Focus remains on bringing down overall cost of debt to ~12%

levels, subject to further rate hikes at macro level

SEP-21 Bank s 3%

Others 6%

AIF 3%

DEC-22

Banks 55%

AIF 4%

Others 6%

NBFC 88%

NBFC 35%

_________________ * SPL CFS Data; ** - Including cost of JV debt

Awards & Recognitions: 9MFY23

(Economic Times Awards – ET Achievers 2022)

Certified as Great Place To

Work by the prestigious

body GPTW World

Residential Real Estate Project of the Year –

PARK 63

Senior Citizen Housing Project of the Year

Shriram Golden Cove

Affordable Housing Project of the Year

Shriram WYTFIELD

Affordable Housing Project of the Year

Shriram 107 Southeast Asia Real Estate Excellence Awards 2022

Budget Housing Project of the Year Shriram 107 Southeast Realty+ Conclave & Excellence Awards 2022

Shriram Blue

Outlook: FY23 & Beyond

Encouraging Earnings Visibility for Q4FY23

FY23 Revenues: 5 projects to account for 76% of projected revenues in FY23* and are under control

Key Projects

Occupancy Certificate status

Sale Deed Registrations

Southern Crest

OC received in Sep’22

Grand One

Only Sale Deeds to be registered

Summit

OC received

Panorama Hills

OC received

Commenced registrations in Sep’22. Significant contributor for FY23

Over 420,000 sft registered. Registrations to gain further momentum.

Registrations ongoing. On-track to achieve FY23 targets

DM Revenues: On track to achieve FY23 Projected DM Revenues

✓ 9 ongoing DM Projects to contribute about 66% of FY23 DM income - Additional planned launches to support growth

✓ ~30% of 9MFY23 sales from DM projects to support revenue recognition in Q4FY23

✓ 80% of plotted development sales come from DM projects and therefore, quick realisation both in terms of revenues and

cashflows

3-year earnings outlook strong with greater visibility

✓ ~ 75% of aggregate revenues over next 3 years to come from volumes sold as of Sep’22

✓ ~ 60% of aggregate DM fees over next 3 years to come from projects launched already

✓ Nearly Rs.3 Bn of FCF likely in next 3 years

_________________ * excl. likely revenues from sale of mall land and Kolkata land monetisation

Strong Income Recognition Outlook (FY23-25e)

Sales Volumes (msf)

3-year cumulative sales of 10msf

3.8

3.2

3.0

FY20

FY21

FY22

Ongoing Projects – By Region (msf)

# Projects

9.0

5.6

4.3

Bangalore

Chennai

Kolkata

Likely to handover ~2,000 units in FY23; Already handed over 1,200+ constructed units and ~400 plotted units in 9MFY23

Project Completion Trend (msf)

# units handover

2,093

2,885

2,280

~10,000

10.7

3.2

3.0

3.8

FY14-16

FY17-19

FY20-22

FY23-25e

✓ SPL to complete & deliver 10+ msf in next 3 years; Largely reflecting sales ramp-up in last 3 years (SPL sold over 10 msf in 3 years) ✓ Construction progress encouraging and projects mostly on track ✓ Sharp rise in handovers to improve revenue recognition potential over the next 3 years ✓ Nearly 2,000 units to be handed over in FY23

Strategic Objectives & Outlook: FY23 and Beyond

❑ SPL continues to demonstrate its growth momentum delivering strong performance

❑ Operating leverage kicking-in, on the back of scale and improving efficiency

❑ FY23 on track to be a promising year with strengthened long-term fundamentals, for the sector and SPL

– Markets conducive for new launches with improving outlook

– Near zero inventory in completed projects; ~80% of ongoing project inventory sold already

– Deferred project launches back on track; 4-7 launches in Q4FY23;

– Strong project pipeline to support growth momentum

Strategic Objectives

❑ Sustain growth momentum: Target 20+ % CAGR in Sales over the next 2-3 years

❑ Unlock potential from Kolkata

❑ Emphasis on DM; JDA/JV to continue

❑ Sustain profitability at ~22-25% ; Positive net earnings

❑ Improve and sustain RoCE in the 10-15% range in 2 years

Project Pipeline Update – Dec’22

Project Pipeline (msf)

Upcoming Projects – 30 msf

Ongoing – 24 msf

10.3

52.8

11.2

0.3

0.9

2.2

5.3

5.5

9.0

8.3

Ongoing… Ongoing… Ongoing…

PuD…

FC…

Total

Note: FC : Forthcoming; PuD: Projects under development.

Pipeline – March’22

Less: Projects Completed

Less: Projects Deferred/ Removed

Add: Project Additions

Pipeline – Dec’22

# projects

msf

(7)

(3)

51.3

(3.8)

(2.8)

8.1

52.8

Pipeline – By Region

Pipeline – By Development Type

14%

22%

47%

17%

30%

10%

30%

Bangalore

Kolkata

Chennai

Others

Own

JDA

✓ Completed 7 projects - Park63 (1A), Summit, Earth (Whitefield), Southern Crest, Earth (Mysore Road), Raynal Gardens and Elite Sai Gardens

✓ Added 10 new projects – with aggregate saleable area of 8 msf

✓ 3 Projects deferred/removed due to project uncertainty

✓ Overall pipeline impressive; 51 projects with 53 msf potential

with 23 msf ongoing and 30 msf upcoming projects

DM Model : Stabilised Growth Engine

Residential DM Projects

Developmen t Type

Location

Project Area (msf)

Sold Area (msf)

Status

Earth (Mysore Road)

Plots

Bangalore

Raynal Gardens

Plots

Bangalore

Elite Sai Garden

Plots

Bangalore

Blue

Apartments

Bangalore

Chirping Grove

Villas

Bangalore

Westwoods

Eden-144

Plots

Bangalore

Plots

Bangalore

Northern Clouds

Plots

Bangalore

Rainforest

Plots

Bangalore

Divine City -1

Apartments

Chennai

Eden 144 (Phase -2)

Plots

Bangalore

0.49

0.39

0.20

0.71

0.50

0.25

0.23

0.50

2.11

0.24

DM Volumes (msf)

20%

19%

26%

35%

1.05

28%

1.06

0.48

0.33

0.20

Completed

% of Total sales volume

Completed

0.49

0.83

0.69

0.70

Nearly Complete

0.36

0.40

0.14

0.04

0.49

0.68

0.18

Under progress

FY18

FY19

FY20

FY21

FY22

DM Revenue (Rs. Mn.)

14%

23%

20%

% of Total Revenue

1,142

1,043

871

Under progress

571

Under progress

To be launched (Bangalore/Chennai/Hyderabad)

10.31

To be launched

FY19

FY20

FY21

FY22

✓Profitable, Sustainable growth opportunity that is value accretive to LO & Developer

✓Successfully stabilised the DM Model - now account ~30% of pipeline and ~30% of Sales

✓Core DM in 11-12% to SPL

✓DM Fess ranging from 10%-22% of project revenues, based on services/cost structure

Strategies for Unlocking Potential from Kolkata Progressing Well

Kolkata Development Strategy

Own development of c.10msf over next 3-5 years

Monetising remaining land bank c.22msf

Development Status Update

Monetisation Update

❑ Shriram Grand-1: (2.1 msf, almost entirely sold)

– Handover progressing in some clusters; To deliver

600 units in FY23

– Construction in full swing in other clusters

FSI sale progressing well; MoU with LOGOS, integral part of the strategy

❑ Shriram Sunshine: (2.3msf, launched in 3 phases)

LOGOS Deal – DD & documentation efforts nearing closure

– Already sold ~98% of Phase-1 and 43% of Phase-2

Likely interest from another large global player

(aggregate 1.05 msf)

❑ Upcoming : ~5.5 msf to be launched over next 3 years

– Villa development to be launched in Q4FY23

Investment Summary

8. Access to Capital

➢ Strategic relationships with domestic and

international financial investors

➢ Early recipient of FDI in the sector

7. Low Leverage

➢ Well capitalized, with leverage levels of 0.36x1

6. RERA Beneficiary

➢ Well-positioned to reap benefits of RERA led

industry consolidation

➢ Built deep project pipeline

➢ Proven ability to manage partnerships

5. Scalability

➢ Asset light, highly scalable business model

➢ DM being core part of strategy

➢ Strong organisational build up in recent years

1. Corporate Governance ➢ Shriram Group DNA and marquee investor presence for a decade contribute to strong governance and transparency practices

2. Trust and Brand

➢ ‘Shriram’ brand benefits from strong trust

and recall among target customers

3. Track Record

➢ Robust execution track record

➢ Delivered 36 projects

4. Strong Growth Outlook

➢ Visible growth pipeline with continued focus

on mid-market & affordable segment

➢ Demonstrated ability to ramp-up

➢ Core strategy unchanged – Focus on mid-

market and affordable housing in South India

___________________________________________________ Note: 1. As of December 31, 2022. Net debt calculated as (Gross debt – Cash & cash equivalents). Gross debt excluding unsecured inter-company loans (from JVs)

Some glimpses of Cluster A & B Handover

Well-positioned to navigate key challenges of the real estate industry

30 Entrance of Cluster A&B of Grand-1

Thank You

Shriram Luxor Shriram Chirping Woods

Annexure - Projects Snapshot by Development Models

Own Developments

Joint Developments

Joint Ventures

Development Management

Execution Track Record

Completed ✓ 6 projects ✓ 4.7 msf.

Ongoing Projects ✓ 7 Projects ✓ 8.3 msf.

Under Pipeline ✓ 7 Projects ✓ 7.4 msf.

Completed ✓ 23 projects ✓ 10.7 msf.

Ongoing Projects ✓ 4 Projects ✓ 5.3 msf.

Under Pipeline ✓ 12 Projects ✓ 10.6 msf.

Completed ✓ 3 projects ✓ 2.1 msf.

Ongoing Projects ✓ 3 Projects ✓ 3.7 msf.

Under Pipeline ✓ 1 Project ✓ 0.8 msf.

Completed ✓ 4 projects ✓ 3.1 msf.

Ongoing Projects ✓ 9 Projects ✓ 5.5 msf.

Under Pipeline ✓ 8 Projects ✓ 11.1 msf.

For further information, please contact:

Company :

Investor Relations Advisors :

Shriram Properties Limited CIN – U72200TN2000PLC044560 Mr. Vineel Naidu, General Manager – Finance & Accounts Email Id – vineel@shriramproperties.com

www.shriramproperties.com

Strategic Growth Advisors Pvt. Ltd. CIN - U74140MH2010PTC204285 Mr. Rahul Agarwal / Ms. Brinkle Shah Jariwala rahul.agarwal@sgapl.net / brinkle.shah@sgapl.net +91 98214 38864 / +91 96193 85544 www.sgapl.net

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