SHRIRAMPPSNSE14 August 2023

Shriram Properties Limited has informed the Exchange about Investor Presentation

Shriram Properties Limited

August 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

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

Dear Sir/Madam,

Sub: Investor Presentation

Further to our intimation on August 9, 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 June 30, 2023.

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

Shriram Properties Limited Q1FY23 Results Presentation

Q1FY24 Results Presentation

August 2022 August 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; Strong Demand amidst Macro Uncertainties

• Rising interest rates and fears of Global/US recession had limited

impact on demand

• Strong sequential demand growth across top markets (+14% YoY)*

• Supply growth modest at only +1% YoY* in Q2CY23

• Pan India inventory on downward spiral – at 17 months in June’23

• Price trends encouraging; Grown by 6% YoY in Tier-1 cities

• Mid-market and affordable segments remained star performers –

accounting for 50% of overall demand in Q1FY23

• Short term risk amidst fears of global recession and lay-off in some

sectors, but long-term fundamentals remain intact

KEY EMERGING TRENDS – Largely remain intact

• 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 market

consolidation 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

Inventory Overhang – Top7 Cities

________________ * Source: Propequity India’s Real Estate Overview – Q22023 LHS Chart Source: Propequity

________________ RHS Chart Source: Anarock Research

Pricing & Segment wise Trends 2023– Core Markets

SPL’s Core Market Trends

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

Bengaluru, Chennai and Kolkata

• Remarkable improvement in inventory levels – at near decade low

− Bangalore inventory levels among lowest across Tier-1 cities

− Chennai and Kolkata inventory levels have reduced

• Average Price increase for CY2023 at

− 7% in Bengaluru QoQ (+18% YoY in Q2 2023)

− 9% in Chennai QoQ (-2% YoY in Q2 2023)

− 3% in Kolkata QoQ (+7% YoY in Q2 2023)

• Affordable and mid-market segments account for 55%-80% of supply

and 63%-83% of absorption in Bengaluru, Chennai & Kolkata

u r u a g n e B

a n n e h C

a t a k l o K

Bengaluru : Absorption & Supply Trends

Chennai : Absorption & Supply Trends

Kolkata: Absorption & Supply Trends

________________ Source: Propequity India’s Real Estate Overview – Q2 2023

Shriram 107 Southeast

Operational Highlights : Q1 |FY24

________________ 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 – Q1FY24

Operational Performance

Project Execution

•

Highest-ever Q1 sales, both in terms of volumes and values

Sales volumes up 17% YoY ; Value up 47% YoY in Q1

2 new launches; 3 new launches underway

Strong sustenance collections; New sales led collections ramping with launch trends

Construction gaining momentum – 5 projects nearing completion; 3 new projects going live in Q2-Q3

Financial Performance

Strong earnings momentum continued in Q1FY24

− Revenues up 10% YoY, EBITDA up 50% YoY; PBT up 40% YoY

− Net Profit higher by 59% at Rs. 17 crores

Enhanced scale and operating leverage, stable DM and cost control supporting profitability

EBITDA & Net margins at 34% & 11% respectively

Cash From Operations at Rs.680 mn

Received Rs.600 mn of DM fee from Xander

Cost of Debt declining still; to reach ~11.5% in Q2

•

Handed over 350+ units in Q1, despite slowdown in registration since Apr’23 (Election / Kaveri 2.0 issues)

On-track to handover ~3,000 units in FY24; to drive strong income recognition

Completed 3 projects in Q1FY24 - (Shriram Blue, Rainforest & Eden, with 1.36 msf saleable area)

Strong registrations momentum continue, driven by FY23 completed projects

Business Development & Project Pipeline

Acquired an erstwhile DM project in Chennai (1.88msf saleable area)*; Being launched as Shriram 122 West in Q2

ASK Investment platform – 2nd project finalised

− Newly acquired Chennai project to be on ASK Platform

− Definitive agreements signed; Investment by mid-Aug’23

− Additional projects under the platform under evaluation

Strong project pipeline to support growth momentum

− 42 projects with ~43 msf development potential

− Includes 23 msf across 24 projects in ongoing projects

LOGOS deal progressing well; Likely closing by H2-FY24

________________ * Under a Business Transfer Agreement (BTA)

Q1FY24 KPI Trends : Sales Mix

Pre-Sales Volume (msf)

Sales Value (Rs. Mn.)

17%

0.78

4.02

0.66

1.31

1.04

1.01

0.66

FY23

Q1FY23

Q1FY24

4.80

4,586

47%

3,126

23,300

18,461

4,937

6,054

+17%

0.78

FY24

Q1FY23

Q1FY24

4,345

+47%

3,126

FY23

4,586

FY24

Sales by Segment

Sales by Dev. Model

Region wise Sales

Others 9%

Plots 21%

Apartments 70%

DM 12%

JV 22%

Own 49%

JDA 17%

Others 1%

Kolkata 10%

Chennai 14%

Bangalore 74%

Strong sales performance, supported by new launches and sustenance sales from Q4FY23 launches

______________________ • Msf = Million Square Feet

Q1FY24 KPI Trends : Sales-at-launch

Q1 FY24 Launches

Projects

Type

Launch

Launch Area

Shriram Esquire

Shriram Hebbal 1

New

May’23

1,31,870

May’23

1,44,328

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

Sold at launch

46,895

57,000

% sold

48%

36%

39%

38%

Impressive Sales-at-Launch

44%

38%

34%

Q2FY24 Launch Outlook

Projects

Own. Type

Dev. Type

Launch Timeline

Region

Area (msf)

Status

Prime Paradiso

Shriram 122 West

Adde Vishwanathapura

Own

Apt

Aug’23

Chennai

Sep’23

Chennai

Sep’23

Bangalore

1.1

1.9

3.7

RERA recd.

RERA stage

•

Two successful launches in Q1 – Esquire & Hebbal 1 (both in Bangalore)

Encouraging sales-at-launch; Nearly 40% of project sold in less than 60 days

Chennai project ready but launch moved to Q2 to coincide with auspicious period

Bengaluru additional launches moved to Q2/Q3 (election led approval delays)

Robust launch pipeline and readiness for H2-FY24, our traditional busy season

FY20

FY21

FY22

FY23

Q1FY24

# of launches Quarterly trends

FY22

2 1 FY23

FY24P

Launches back on track, after some delays in Q4 FY23; SPL confident of 11-12 launches targeted for FY24

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

Encouraging Response to Ongoing Launches

Glimpse of Shriram Esquire Launch Event

✓ Shriram Esquire, Koramangala, B’lore (Apartments)

- Exceptionally strong launch response

- EOI since Apr’23; Formally Launched during May’23

- 46,000+ sft (nearly 35% of the project) sold already

✓ Shriram Chirping Ridge, B’lore (Plots)

- Over 220+ units booked so far

- Nearly 70% sold within 5 months

✓ Shriram Pristine Estates, Bengaluru (Plots)

- Over 130+ units booked so far

- Strong results with realization exceeding initial targets

(currently sold at Rs.3600-4200/sqft levels)

✓ 2-3 Projects in Bengaluru, Chennai Launch ready

- Awaiting RERA approvals

Initiated market warm-up with EOIs

- Likely launch by late August & early September

Encouraging Pricing Trends: Realisation up 9% from Mar’23 levels

Price Increase by Project – Top Projects only

Avg. Portfolio Price increase Trends

Project

Dev. Type

Realisation

H1’22

FY'22

FY'23

Q1 FY'24

% change from H1’22

% change from FY23 to Q1 FY'24

Park 63(2A)

Apt

5,630

5,882

6,375

7,197

28%

One City – 2

Plots

1,331

1,360

1,500

1,780

34%

107 Southeast Ph II

Apt

3,873

3,920

4,736

4,811

24%

Park 63(1A)

Apt

5,632

5,761

7,330

6,979

24%

Chirping Grove

Villas

5,451

5,493

6,561

6,721

23%

Sunshine One

Apt

3,543

3,557

4,056

4,333

22%

Grand One

Apt

3,682

3,744

3,980

4,241

15%

Southern Crest

Apt

7,113

7,309

7,409

8,102

14%

WYTfield – Phase 1

Apt

5,118

5,126

5,639

5,808

13%

19%

-5%

One City – 1

Villas

3,242

3,278

3,780

3,565

10%

-6%

✓ Avg. realisation up ~9% in Q1FY24, beyond the ~8% hike seen in FY23

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

✓ Industry-wide price improvement seen across all core markets. Trends continue since Oct’21

9%*

Avg realisation increase during

Q1 FY24

Avg realisation increase during

FY23

Avg realisation increase during

H2’ FY22

Realizations Trends by Development Type (Rs/Sqft)

5 2 5 6

0 8 3 6

8 0 0 6

1 1 7 4

9 7 3 4

7 0 5 4

2 8 6 3

5 4 0 3

3 0 9 2

✓ Positive outlook for pricing over the next 12-18 months

_________________________________ *Excluded luxury segment for comparability

Plots

Affordable

Mid-Market

Q1FY24

Q1FY23

FY23

Q1 FY24 KPI Trends: Collection & Construction

Collection Trends (Rs. Mn)

Construction Spending (Rs. Mn)

1,478

16,000

Rs. 2,910 Mn in Q1F

1,144

1,031

735

April'23

May'23

June'23

July'23

11,942

3,072 3,072

2,486 2,486

3,148 3,148

3,236 3,236

FY23 FY23

2,910 2,910

FY24 FY24

7,500

1,305 1,305

FY24 FY24

5,000

1,227 1,227

1,052 1,052

1,351 1,351

1,370 1,370

FY23 FY23

•

Q1FY24 Collections stood at Rs. 2,910 mn – down ~10% YoY

Notwithstanding temporary slowdown in Apr’23

− Registration slowdown in Karnataka (Kaveri2.0 issues) and election led delays impacting last mile collections

− Disbursement delays in some projects were resolved only

in May’23

Collection back on track now. Likely to average around Rs.110-120Crores/month in H1FY24

On track for full year targets of Rs.16bn in FY24

•

Construction spends steady at Rs. 1,305 mn in Q1 FY24

3 projects at an advanced stage of completion and to drive growth in Q2 construction

− Liberty square, Chirping wood T5 nearing OC/completion

Commencement of activity in 3 new projects (viz., Esquire, Prime Paradiso, 122 West) to fuel growth during H2FY24

On track for realising full year target of Rs.7.5bn

Project Execution Trends: FY24 Handover Readiness

Project Name

Total Area

RERA date % sold

% work done

Remarks

Shriram Greenfield Phase II

7,04,355

30-Dec-23

98%

83%

Chirping Wood Tower 5

2,20,740

30-Mar-24

98%

67%

Liberty Square

5,84,780

14-Nov-24

97%

70%

Southern Crest Tower D

75,735

21-Oct-25

100%

55%

Temple Bells

4,72,570

31-Jul-24

97%

76%

Project Progress (Actual site Photos)

Ready for Fire NOC, Handover by Dec’23

FIRE NOC applied & OC Application stage

Q4FY24 Handover – 7 months ahead of Schedule

Targeted Handover in Q3 FY24, 20 months ahead of RERA timelines

Handover started in few towers already

• FY24 handover projects on-track

to deliver on (or) ahead of schedule

• Almost all projects nearing completion has near zero inventory levels

• Nearly 70%-80% of construction done for projects to be delivered in next 12 months

• All Projects to be delivered for FY24 within RERA timelines

Greenfield Ph II

Chirping Wood T5

Liberty square

Southern Crest

Temple Bells

Shriram Southern Crest

Financial Highlights : Q1|FY24

Financial Highlights | Q1FY24

o After completing one complete cycle of positive earnings last year, FY24 begins with yet another

Strong P&L Performance

o Strong earnings growth story; Healthy quarterly improvement since IPO/Q3FY22 continues

o Driven by improving operating leverage and project execution

o Revenue recognition momentum strong, helped by robust execution and handover

o Interest expenses dropped significantly YoY and QoQ, refinancing efforts started yielding results

o Strong operational momentum and aggressive launch plans to support robust growth in sales

volume, revenues, earnings and profitability going forward.

Financial Highlights : Profit & Loss|Q1FY24

Particulars (Rs. Mn)

Q1FY24

Q1FY23

YoY (%)

Q4 FY23

FY23

Total Revenues

Cost of revenue

Employee benefit expense

Other expenses

Total Operating Expenses

EBITDA

Finance Costs

- Interest expense

- Unwinding Impact (non-cash charge)

- Interest expense (one time)

- Other finance costs (net of finance income)

Depreciation

Profit before share of JV Income/(Loss)

Add: Share of profit/(loss) of JVs

Profit Before Tax

Tax expense

Net Profit

1,572

1,451

1,710

607

188

243

717

192

188

1,038

1,096

533

329

160

183

244

166

355

258

186

174

105

-5%

50%

27%

-14%

134%

40%

59%

633

193

431

1,257

453

308

216

124

138

(20)

158

8,139

4,532

787

991

6,311

1,828

1,064

740

221

103

687

716

683

Total Revenues Rs. 1,572 Mn

8% YoY

Interest Expense Rs. 160 Mn

14% YoY

Net Profit Rs. 166 Mn

59% YoY

EPS (Rs./Share)

0.98

0.52

0.90

3.88

_________________ * Includes DM fee of INR 181 Mn, INR 181 Mn, INR 178 Mn and INR 619 Mn in Q1FY24, Q1FY23, Q4FY23 and FY23 respectively

Strong earnings growth momentum, consistent with expectations

Financial Highlights (contd.): Profit & Loss|Q1FY24

❑ Revenue from operations up 10% YoY, reflects continued registration momentum in FY23 completed projects ( mainly

driven by Southern crest, Temple Bells, Shriram One City)

❑ DM Fee income at ~12% of total Revenues

❑ Cost of Revenue dropped 15%, to Rs. 607 mn – reflects changed/Improved product mix during the quarter

❑ EBITDA margins at 34% in Q1, compared to 25% in Q1FY23. likely to be around mid 20’s in FY24

❑ Overall finance cost higher 27% YoY, but Interest expense down 14% YoY

• Mainly on account of acquisition of Chennai Project under BTA with assumption of LO/Parties debt that is being

closed by mid Aug’23

•

Interest expense down 14% YoY at Rs.160 Mn in Q1FY24

Unwinding impact of Bengal 4% GoWB liabilities stable at Rs.51 Mn in Q1

❑ PBT higher by 40% YoY nearly 1.4x of Q1FY23 at Rs.244 Mn

❑ Share of JV positive - Positive contribution from income recognition at Park63 (residential JV with Mitsubishi Corpn.) partially offsetted with renewed campaign/marketing costs at 3 other JVs (WYTfield & 107 South East, Shriram Pristine Estates) that have not reached income recognition threshold

❑ Net Profit at Rs.166 Mn, up 59% YoY, nearly 1.6x of Q1FY23

_________________________________ * BTA- Business Transfer Agreement

Financial Highlights: Consolidated Cash Flows | Q1FY24 (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

Loan Drawls

Loan Repayment

Net flows from borrowing

Interest expense, net

Other financing cashflows

Cash flow from Financing

FCF before New Project Inv.

(183)

Less: New Project Investments*

Net Free Cash Flow

Opening Cash & Cash Equiv.

Closing Cash & Cash Equiv.

(174)

(357)

1,204

847

Q1 FY24

1,392

703

2,097

(862)

(421)

(134)

Q1 FY23

1,339

113

1,454

(673)

(363)

(122)

(1,417)

(1,395)

680

164

(898)

(734)

(119)

(10)

(863)

541

(977)

(436)

(195)

(593)

(534)

(237)

(534)

1,405

871

Collection Trends SPL Own & JDA / JVs / DM

11,943

2,506

4,567

4,871

2,911

301

965

1,644

3,236

857

1,257

1,122

Q1 FY24

Q1 FY23

FY23

Own/JDA

DM Total

Key Highlights

✓ Operating cashflows remain strong

✓ Significant Debt repayment Q1, leveraging DM flows

and scheduled project level payments.

✓ Higher construction outflow in line with execution

progress and fueling collections.

✓ Overall enterprise cashflows remain strong

FY23

5,243

572

5,822

(2,961)

(1,486)

(226)

(4,673)

1,149

4,412

(3,670)

742

(642)

(86)

1,161

(1,364)

(203)

1,405

1,204

_________________ * 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 (%)**

6,558

864

5,694

Rs. Mn

7,000

6,000

5,000

4,000

3,000

2,000

1,000

5,526

1,204

4,880

847

4,322

4,033

4,811

1,405

3,406

0.70

13.7%

12.5% 11.9%

12.8%

11.1%

0.30

0.36

0.33

FY21

FY22

FY23

Q1FY24

Mar'21

Mar'22

Mar'23

June'23

FY21

FY22

FY23

Q1FY24 Aug23(E)

Net Debt

C & CE

Gross Debt

✓ Gross Debt mostly on construction funding at project level

✓ End Q1FY24 Gross Debt at Rs.4,880 Mn; Net Debt Rs. 4,033 Mn

• • •

Despite assumption of Rs.1000 Mn debt as part of Business Transfer Agreement to acquire a new project in Chennai. Project being moved to ASK Co-investment Platform by Mid-Aug’23 Gross Debt likely to drop to Rs.~3900 Mn in Q2FY24

✓ Committed efforts to bring down Debt and CoD yielding results; Average cost dropped further during Q1FY24

• •

Repaid Rs. 898 million in Q1, excluding debt assumed as part of asset acquisition Continued focus towards Banks, from erstwhile NBFC funding

✓ Q1 avg. rate is an aberration and transient impact due to debt assumed as part of asset acquisition in Apr’23. With new asset

being moved to ASK Investment Platform in Aug’23, Cost of Debt to drop to ~11.5% levels in Q2FY24.

✓ Focus remains on bringing down overall cost of debt lower further, assuming macro rates stabilize.

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

Shriram Blue

Outlook: FY24 & Beyond

Encouraging Earnings Visibility for FY24

FY24 Revenues: 4 projects to account for 70% of projected revenues in FY24 and are under control

Key Projects

Occupancy Certificate status

Sale Deed Registrations

Grand One

Sale Deed registration pending

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

Liberty Square

OC expected in H2FY24

Chirping Woods (T-5) OC expected in Q2FY24

Progress on track

Southern Crest

OC received

Registrations ongoing. Last tower to complete in FY24

DM Revenues: 80% FY24 Projected DM Revenues to come from ongoing projects

✓ 9 ongoing DM Projects to contribute about 80% of FY24 DM income - Additional planned launches to support growth

✓ ~21% of FY24 sales from DM projects; To support revenue recognition in FY24

✓ 75% of plotted development sales to come from DM projects and therefore, quick realisation both in terms of revenues

and cashflows

3-year earnings outlook strong with greater visibility

✓ ~ 70% of aggregate revenues over next 3 years to come from volumes sold as of Mar’23

✓ ~ 55% 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 at an enterprise level

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

Strong Income Recognition Outlook (FY24-25e)

Sales Volumes (msf)

4-year cumulative sales of 14msf

4.0

3.8

3.2

3.0

FY20

FY21

FY22

FY23

Ongoing Projects – By Region (msf)

# Projects

8.6

5.6

4.3

Bangalore

Chennai

Kolkata

Completed 3.8 msf in FY23

Handed over ~2,000 units in FY23 ~3,000 units in FY24

Project Completion Trend (msf)

# units handover

2,093

2,885

2,280

~10,000

10.7

6.9

3.5

2.4

FY14-16

FY17-19

FY20-22

FY23-25e

✓ Poised to complete and deliver 10+ msf in 3 years, largely reflecting sales ramp-up in last 4 years (SPL sold over 14 msf in 4 years) ✓ Construction progress encouraging and projects mostly on track ✓ Sharp rise in handovers to improve revenue recognition potential over the next 3 years ✓ Over 2,000 units handed over in FY23 and likely to handover ~3,000 units in FY24

FY24 Outlook | Context & Strategic Objectives

Strategic Objectives

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

➢ Ensure sustained profitability; Positive net earnings with Improving profitability and returns; and

➢ Progress towards ‘Zero Net debt’ objective

FY24 Context

➢ SPL standing firm on its growth path – Need to leverage established sales & execution machine optimally

➢ FY24 to be a promising year with strengthened long-term fundamentals, for the sector and SPL

– Markets conducive for new launches with improving outlook

– Opening inventory from ongoing projects at ~5.4 msf currently to drive sustenance sales in FY24

–

Launch pipeline robust with 11-12 projects - Greater visibility & launch readiness

20% YoY

~4.8

msf

26% YoY

~23,300

Rs. Mn

47% YoY

~16,000

Rs. Mn

51% YoY

~7,500

Rs. Mn

FY24 Sales volume target

FY24 Sales Value Target

FY24 Collections Target

FY24 Construction Target

Project Pipeline Update – June’23

Project Pipeline (msf)

Upcoming – 20 msf

8.6

51.6

Ongoing – 23 msf

5.8

43.0

3.4

10.6

3.0

11.8

8.5

Ongoing Owned

Ongoing JV / JDA

Ongoing DM

Upcoming Owned

Upcoming JV / JDA

Upcoming DM

Sub-Total

Deferred

Total

Pipeline – March’23

Less: Projects Completed

Pipeline – Mar’23

# projects

msf

(3)

52.9

(1.3)

51.6

Pipeline – By Region

Pipeline – By Development Type

11%

28%

37%

20%

21%

44%

✓ Completed 3 projects – Shriram Blue, Eden 144, Rainforest

✓ Overall pipeline impressive; 49 projects with 52 msf potential

with 23 msf ongoing and 20 msf upcoming projects

24%

14%

Bangalore

Kolkata

Chennai

Others

Own

JDA

Business Model Dynamics

Land

Design

Mainte nance

Approv als

Delivery

Handov er

Development

Sales

CRM

Market ing

Constru ction

Development Model

Scalability

Capital Intensivity

Return

Risk

Rewards to LO

Risk to LO

Own

Low

JDA

Moderate

Low

High

Moderate

Low

High

Low

Least/NA

Better than Sale

Least risky

Shared with SPL

High

Note: Details dynamics of each model is Annexed.

DM Model : Stabilised Growth Engine

Residential DM Projects

Development Type

Location

Project Area (msf)

Sold Area (msf)

Status

Earth (Mysore Road)

Raynal Gardens

Elite Sai Garden

Blue

Eden-144

Rainforest

Ongoing

Upcoming

Plots

Bangalore

Apartments

Bangalore

Plots

Bangalore

0.49

0.39

0.20

0.71

0.15

0.50

2.99

5.75

0.48

0.33

0.20

0.70

0.14

0.49

1.90

Completed

Under Progress

To be launched

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

✓Successfully stabilised the DM Model - now account ~20% of pipeline

✓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 msf, almost entirely sold)

• FSI sale progressing well; MoU with LOGOS,

– Handover progressing in some clusters; To deliver

– Documentation efforts nearing closure

~800 units in FY24

– Construction in full swing in other clusters

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

– Already sold ~90% of Phase-1 and 60% of Phase-2

(aggregate 1.3 msf)

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

– Villa development to be launched in Q3FY24

– Targeted closing in H2- FY24

• Likely interest from another large global player

Shareholding Pattern as at 30th June 2023

Shriram Properties Limited has informed the Exchange about Investor Presentation

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