Sunteck Realty Limited has informed the Exchange about Investor Presentation
Sunteck Realty Ltd.
SRL/SE/8/25-26
National Stock Exchange of India Ltd Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 051 Symbol: SUNTECK
Date: 4th May, 2025
BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai – 400 001 Scrip Code: 512179
Sub: Investor Presentation on Q4 & Full Year FY 2025 results
Dear Sir/Madam,
Pursuant to Regulation 30(6) of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, please find enclosed the Investor Presentation with regard to Financial Results for the quarter and year ended 31st March, 2025.
Kindly take the same on record and disseminate to all the concerned.
Thanking You.
For Sunteck Realty Limited
Rachana Hingarajia Company Secretary Encl: a/a
5th Floor, Sunteck Centre, 37-40 Subhash Road, Vile Parle (East), Mumbai 400057. Tel: +91 22 4287 7800 Fax: +91 22 4287 7890
Website: www.sunteckindia.com CIN: L32100MH1981PLC025346 Email Id: cosec@sunteckindia.com
Sunteck Realty Limited
Investor Presentation
Q4 & Full Year FY2025
May 2025
NSE: SUNTECK | BSE: 512179 | Bloomberg: SRIN: IN | Reuters: SUNT.NS / SUNT.BO
Disclaimer
By attending the meeting where this presentation is made and any additional material is provided (“Presentation”) or by reading the Presentation, you (“Recipient”), agree to be bound by the following limitations. This Presentation has been prepared on the basis of the estimates of the management of Sunteck Realty Limited (the "Company“ or “Sunteck”), for the sole and exclusive purpose of providing information to the Recipient about the Company and its business, and is not and should be construed to be, directly or indirectly, an offer and / or an invitation and / or a recommendation and / or a solicitation of an offer to buy or sell any securities of the Company in any jurisdiction, nor shall part, or all, of this Presentation form the basis of, or be relied on in connection with, any contract or binding commitment or investment decision in relation to any securities of the Company. No offering of securities of the Company will be made except by means of an offering document containing detailed information about the Company. Securities may not be offered or sold in the United States unless they are registered or exempt from registration requirements under the U.S. Securities Act of 1933, as amended. There will be no offer of securities in the United States.
The distribution of this Presentation in certain jurisdictions may be restricted by law and persons into whose possession this Presentation comes should inform themselves about and observe any such restrictions. This Presentation is strictly confidential and may not be copied, published, distributed or transmitted to any person, in whole or in part, by any medium or in any form for any purpose without the prior written consent of the Company. The information in this Presentation is being provided by the Company solely for the purposes set out herein and is subject to change without notice. Further, this Presentation does not purport to be all-inclusive or necessarily include all the information that the Recipient desires in its evaluation of the Company. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness.
The audited consolidated financial statements for Fiscals 2016 onwards have been prepared in accordance with Ind AS and the same for prior years have been prepared in accordance with Indian GAAP. This Presentation contains statements which may pertain to future events and expectations and therefore may constitute forward-looking statements. Any statement in this Presentation that is not a statement of historical fact shall be deemed to be a forward-looking statement, and the Recipient agrees that such statements may entail known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that the results and events contemplated by the forward-looking statements contained herein will in fact occur. None of the future projections, expectations, estimates or prospects in this Presentation should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the Presentation. The Company assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.
The Recipient acknowledges that it shall be solely responsible for its own assessment of the market and the market position of the Company and that it shall conduct its own analysis and be solely responsible for forming its own view of the potential future performance of the business of the Company. The information contained in this Presentation is as of March 31, 2025 except as may be stated otherwise. Neither the delivery of this Presentation nor any further discussions of the Company with any of the Recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that date. The Company is not under any obligation to update the contents of this Presentation or inform Recipient of any changes in the affairs of the Company. The Company hereby expressly disclaims liability for any errors, inaccuracies, or omissions, and representations and warranties – express or implied, as provided within or in connection with this Presentation. Any clarifications, queries or future communication regarding the matters stated in this Presentation should be addressed to the Company directly. The information given in this Presentation in the form of pictures, artistic renders, areas, consideration, project details etc. should not be construed to be or constitute advertisements, solicitations, marketing, offer for sale, invitation to offer or invitation to acquire.The intention of this Presentation is not to sell or market the unit/s of any of the projects of the Company and is limited to only providing information to Recipient of the Presentation. Note The project elevations are for representation purposes only and are the sole property of the Company and may not be reproduced, copied, projected, edited in any way without written permission from the Company. All data and project related numbers are basis revenue recognition and operational performance excl. overheads for completed, ongoing and future projects respectively.
2
Key Highlights of Q4 & Full Year FY25
KEY HIGHLIGHTS | CONSOLIDATED FINANCIALS – FY25
• Highest-ever annual pre-sales of ~Rs.2,531 cr registering a growth of 32% YoY
• Collections stood strong at ~Rs.1,255 cr
• Revenue grew by 51% YoY to ~Rs.853 cr
•
EBITDA grew by 58% YoY to ~Rs.186 cr; EBITDA margin grew by 102 bps to ~22%
• PAT grew by 112% YoY to ~Rs.150 cr; PAT margin grew by 506 bps to ~18%
• Net Debt to Equity Ratio stands at -0.04x with Net Cash Surplus of ~Rs.125 cr
KEY HIGHLIGHTS | CONSOLIDATED FINANCIALS – Q4 FY25
• Highest-ever quarterly pre-sales of ~Rs.870 cr registering a growth of 28% YoY
• Collections stood strong at ~Rs.310 cr
• Revenue grew by 27% QoQ to ~Rs.206 cr
•
EBITDA grew by 41% QoQ to ~Rs.69 cr; EBITDA margin stood strong at ~33%
• PAT grew by 19% QoQ to ~Rs.50 cr; PAT margin stood strong at ~24%
3
Key Strengths - Why Sunteck?
4
Key Strengths – Why Sunteck?
1
Strong Foothold in MMR market - largest & fastest growing market in India
2 Luxury portfolio in every segment & across micro- markets - from uber luxury to aspirational luxury
3
Well-timed Capital Allocation for acquisitions - Acquired more than ~50 mn sq ft & GDV of ~Rs 39,370 cr
4
Expanding Annuity Income Portfolio – Rs 300 cr+ rental, capital value creation of upto ~Rs 5,000 cr
5
Strong Financial Performance – With Net D/E of ZERO and strong operational growth of ~32%
6 Successful equity
partnerships – Partnerships with Kotak Fund and Ajay Piramal Group and now, with IFC- World Bank Group
5
Snapshot
Strong Operational Foothold
One of the large developers in MMR – largest & fastest growing market
INR~39,370 cr of GDV from ~10 large projects
~50 MSF+ total development acquisitions
19 projects successfully delivered
Well-timed capital allocation with JDA & outright model
Rs 1 cr = Rs 10 mn
6
1
Strong Foothold in MMR Market MMR-Focused Luxury Real Estate Developer (1/2)
By Location Volume
By Project Brands
7
1
Strong Foothold in MMR market MMR is the most attractive real estate market in India (2/2)
NUMBER OF UNITS SOLD IN - FY24 & FY25
97,374
90,314
53,789
54,733
60,137
56,375
50,730
54,745
34,130
36,883
15,435
17,310
16,561
18,476
MARKET SHARE BY VALUE
Others 28%
MMR
Bengaluru
NCR
Pune
Hyderabad
Kolkata
Ahmedabad
Bengaluru 17%
MMR 39%
NCR 16%
8,277
7,883
6,620
5,900
INR/SQ FT – CY23 & CY24
4,759
5,066
4,507
4,778
5,974
5,550
MMR AFFORDABILITY MATRIX
93%
3,589
3,815
3,031
3,097
52%
53%
51%
MMR
Bengaluru
NCR
Pune
Hyderabad
Kolkata
Ahmedabad
2010
2021
2022
2023
Source: Industry Reports (Based on 7 cities)
8
2
Luxury portfolio in every segment & across micro-markets From Uber Luxury to Aspirational Luxury
Premium positioning by creating different luxury brands across segments
9
3
Well-timed Capital Allocation for acquisitions Acquired more than ~50 mn sq ft & GDV of ~Rs.39,370 cr (1/2)
ACQUISITION STRENGTH
• RESEARCH BASED ACQUISITIONS • ABILITY TO PREDICT GROWTH AREAS AHEAD OF THE CURVE • HIGH EQUITY MULTIPLE PHILOSOPHY
OUTRIGHT ACQUISITION / MAJOR CAPITAL ALLOCATION
JOINT DEVELOPMENT / JOIN VENTURE
10
3
Gross Development Value (GDV) Achieved pre-sales growth of ~32% in FY25 (2/2)
GDV - Balance Gross Development Value excluding sales already done
Rs 1 bn = Rs 100 cr
Launched
Upcoming
5
4
3
2
1
GDV – ~Rs 19,345 cr
Sunteck Sky Park, Mira Rd GDV – Rs 2,450 cr
SBR, Vasai West GDV – Rs 4,050 cr
Sunteck World, Naigaon GDV – Rs 5,200 cr
Sunteck City,ODC, Goregaon GDV – Rs 6,100 cr
Signature & Signia, BKC GDV – Rs 1,545 cr
FY2023 Pre-sales: ~Rs 1,602 cr
6
5
4
3
2
1
GDV – ~Rs 26,645 cr
Sunteck Crescent Park, Kalyan GDV – Rs 8,850 cr
Sunteck Sky Park, Mira Rd GDV – Rs 1,890 cr
SBR, Vasai West GDV – Rs 3,890 cr
Sunteck World, Naigaon GDV – Rs 4,775 cr
Sunteck City,ODC, Goregaon GDV – Rs 5,750 cr
Signature & Signia, BKC GDV – Rs 1,310 cr
FY2024 Pre-sales: ~Rs 1,915 cr
3
2
1
GDV – ~Rs 13,650 cr
Sunteck World, Naigaon GDV – Rs 5,425 cr
Sunteck City,ODC, Goregaon GDV – Rs 6,600 cr
Signature & Signia, BKC GDV – Rs 1,625 cr
FY2022 Pre-sales: ~Rs 1,303 cr
GDV – ~Rs 39,370 cr
10
Nepean Sea Project – 2 GDV – Rs 2,400 cr
9
8
7
6
5
4
3
2
1
Bandra West Project GDV – Rs 1,000 cr
Burj Khalifa Community, Downtown, Dubai GDV – Rs 9,000 cr
Nepean Sea Project – 1 GDV – Rs 2,210 cr
Sunteck Crescent Park, Kalyan GDV – Rs 8,810 cr
Sunteck Sky Park, Mira Rd GDV – Rs 1,650 cr
SBR, Vasai West GDV – Rs 3,600 cr
Sunteck World, Naigaon GDV – Rs 4,410 cr
Sunteck City,ODC, Goregaon GDV – Rs 5,440 cr
Signature & Signia, BKC GDV – Rs 850 cr
FY2025 Pre-sales: ~Rs 2,531 cr
11
3
Diverse portfolio across micro-markets Portfolio Split – GDV: Rs. 39,370 cr
Uber Luxury Projects: Signature Island, Signia Isles & Signia Pearl – BKC Nepean Sea Downtown Dubai Bandra West
Premium Luxury Projects: Sunteck City – ODC, Goregaon (W) Sunteck Beach Residences – Vasai (W) Sunteck Sky Park – Mira Road
Aspirational luxury Projects: Sunteck World – Naigaon (E) Sunteck Crescent Park – Kalyan
Uber Luxury 39 %
Premium Luxury 27 %
Aspirational luxury 34 %
Portfolio Split - category wise GDV as a % of total GDV
12
4
Expanding Annuity Income Portfolio Rs 300 cr+ rental, capital value creation of upto ~Rs 5,000 cr
Sunteck Icon and Sunteck BKC 51 at BKC Junction has been pre-leased for a tenure of 29 years
Both commercial assets have generated an Avg. ROIC of ~30%
Launched
Upcoming
Capital Value – Upto ~Rs 525 cr
1
Sunteck BKC 51, BKC Jn. Avg. Rental Income – Rs 35 cr
Capital Value – Upto ~Rs 1,050 cr
2
1
Sunteck Icon, BKC Jn. Avg. Rental Income – Rs 35 cr
Sunteck BKC 51, BKC Jn. Avg. Rental Income – Rs 35 cr
Capital Value – Upto ~Rs 5,000 cr
3
2
1
5th Avenue, Sunteck City, ODC Avg. Rental Income – Rs 250 cr
Sunteck Icon, BKC Jn. Avg. Rental Income – Rs 35 cr
Sunteck BKC 51, BKC Jn. Avg. Rental Income – Rs 35 cr
FY2024 Total Avg. Annual Rental Income: ~Rs 35 cr
FY2025 Total Avg. Annual Rental Income: ~Rs 70 cr
FY2028-29E Total Avg. Annual Rental Income: ~Rs 320 cr
BKC – Bandra Kurla Complex, ODC – Oshiwara District Center, Goregaon West
Rs 1 bn = Rs 100 cr
13
5
Strong Financial Performance
Amongst industry best financials
Pre-sales growth @~32%
~20%+ Cashflow Surplus Yield of past 3 years
Net Debt to Equity @ Zero
AA Long term credit rating from India Ratings (Fitch)
INR 750 cr partnership with IFC – World Bank Group
Rs 1 cr = Rs 10 mn
14
5
Strong Financial Performance Pre-sales and Collections registering strong growth (1/4)
Operational Trend
Q4 FY25
Q3 FY25
Q4 FY24
FY25
FY24
Pre-Sales
Collections
870
310
635
336
Annual Pre-sales (~Rs cr)
2,531
1,915
1,602
1,303
1,022
3,000
2,500
2,000
1,500
1,000
500
0
678
296
1,600
1,200
800
400
0
2,531
1,915
1,255
1,236
YoY
32%
2%
Annual Collections (~Rs cr)
1,250
1,236
1,255
1,053
780
FY21
FY22
FY23
FY24
FY25
FY21
FY22
FY23
FY24
FY25
Rs 1 cr = Rs 10 mn
15
5
Strong Financial Performance Cashflow RoCE @~16% (2/4)
Net CF Surplus (~Rs cr)
Cashflow RoCE
484
428
374
281
239
600
500
400
300
200
100
0
22%
21%
16%
15%
12%
25%
20%
15%
10%
5%
0%
FY21
FY22
FY23
FY24
FY25
FY21
FY22
FY23
FY24
FY25
• As the company follows Project Completion Method of Accounting, Cashflow RoCE (Net CF Surplus / Adjusted Networth) is considered • Adjusted Networth for FY25 (~Rs 2,367 cr) = Total Average Equity (~Rs 3,192 cr) – Capital Reserve (~Rs 825 cr)
Rs 1 cr = Rs 10 mn
16
5
Strong Net Cash Flow Surplus Cashflow surpasses ~Rs 1,806 cr (3/4)
Particulars (~Rs cr)
Gross Collections
Less: Project Expenses
Less: JDA Revenue Share
Gross Operating Cash Flow Surplus
Less: Other Expenses
Net Operating Cash Flow Surplus
Amount spent on BD/LO/JDA Cost
NOCF Surplus post capex
FY25
1,255
539
79
637
264
374
184
190
2000
1800
1600
1400
1200
1000
800
600
400
200
0
Cumulative NOCF Surplus (~Rs cr)
1,806
1,432
948
520
281
FY21
FY22
FY23
FY24
FY25
Rs 1 cr = Rs 10 mn
17
5
Strong Financial Performance Net Debt to Equity @ ZERO (Net Cash Positive) Sunteck’s Long-Term Credit Rating at AA from India Ratings (Fitch) (4/4)
Particulars (~Rs cr)
FY22
FY23
FY24
FY25
Gross Debt
Less: Cash & Cash Equivalents
Less: Loans to JDA partners
Net Debt
Net Worth
700
97
64
539
593
158
155
280
295
106
198
-8
336
203
259
-125
2,790
2,788
3,124
3,260
Net Debt / Equity
0.19x
0.10x
-0.00x
-0.04x
Quasi-Equity and Others*
Adjusted Net Debt
87
627
93
373
79
72
51
-74
Adj. Net Debt / Equity
0.22x
0.13x
0.02x
-0.02x
2.00x
1.50x
Net Debt/Equity Ratio
1.04x
1.00x
0.89x
0.74x
0.58x
0.70x0.75x
0.51x
~35 mn sq ft has been acquired since 2018
0.50x
0.00x
-0.50x
0.17x0.17x
0.22x
0.17x0.19x
0.10x
1 1 Y F
2 1 Y F
3 1 Y F
4 1 Y F
5 1 Y F
6 1 Y F
7 1 Y F
8 1 Y F
9 1 Y F
0 2 Y F
1 2 Y F
2 2 Y F
3 2 Y F
4 2 Y F
5 2 Y F
-0.00x
-0.04x
*With effect from 9th March, 2020, Starlight Systems (I) LLP became a wholly owned subsidiary of SRL pursuant to the retirement of PDL Realty Private Limited (Retired Partner). The Retired Partner’s balance of current capital and fixed capital in the SSILLP, aggregating to ~910 mn have been converted into a loan. The said loan will be in the form of 1% secured Non-Convertible Debentures (NCDs), which will be redeemed at premium out of the future free cash flow from the specified projects only with a tenure of 20 years.
Rs 1 cr = Rs 10 mn
18
6
Successful Equity Partnerships
Recent Partnership
• Sunteck & IFC – World Bank Group form Joint Investment Platform of up to ~Rs 750 cr
• Key highlights of the partnership
• MMR focused platform to build high-quality green urban large-scale housing projects targeting the mid-income demographic
• Up to 4 to 6 green housing projects - developing around 12,000 units
• Highlights SRL’s capability to develop high quality large-scale housing projects in the MMR
Past Partnerships
• With Ajay Piramal Group
• India REIT invested at Signature Island, BKC in 2006 and exited at >20% IRRs within ~3 years • 50:50 JV - Piramal Sunteck Realty Pvt. Ltd. (PSRPL) formed in 2007 to undertake multiple projects
• With Kotak Realty Fund
• Kotak Real Estate Fund (KREF) has invested in the listed entity in the past • KREF has done multiple PE SPV investment - Signia Isles, BKC in 2009 and Sunteck City, ODC in 2012, and exited at >20% IRRs
Rs 1 cr = Rs 10 mn
19
Annexure Q4 & Full Year FY25 Financial Results
20
Strong Financial Performance
Revenue from Operations
EBITDA & Operating Margin (%)
PAT & Net Margin (%)
18%
21%
22%
0.4%
13%
18%
853
186
150
565
362
117
64
FY23
FY24
FY25
FY23
FY24
FY25
71
1
FY23
FY24
FY25
~54% CAGR (23-25)
~70% CAGR (23-25)
~935% CAGR (23-25)
Amount in chart are Rs. In Cr.
21
P&L Statement Strong Revenue & PAT growth
Revenue from Operations has registered a growth of 51% YoY to ~Rs 853 cr in FY 25
EBITDA has registered a growth of 58% YoY to ~Rs 186 cr in FY25
PAT has registered a growth of 112% YoY to ~Rs 150 cr in FY25
PROFIT & LOSS STATEMENT (Consolidated)
Rs in cr
Particulars
Q4 FY25 Q3 FY25 Q4 FY24
FY25
FY24
YoY %
Operating Revenue
EBITDA
- Margin (%)
PBT
Net Income
- Margin (%)
206
69
33%
66
50
162
49
30%
50
43
24%
26%
427
153
36%
140
101
24%
853
186
22%
182
150
18%
565
117
21%
95
71
13%
51%
58%
91%
112%
Rs 1 cr = Rs 10 mn
22
Balance Sheet Strong Credit Rating of AA by India Ratings (Fitch)
BALANCE SHEET (Consolidated)
Rs in cr
Liabilities
March ’25 March ’24 Assets
March ’25 March ’24
Networth
3,260
3,124
Receivables
117
293
Borrowings
Non-Current Liabilities
387
17
17
Loans & Advances
375
Inventories
6206
5966
Current Liabilities
1,219
1,194
Cash & Bank
347
203
290
106
Others Liabilities
3,444
3,213
Others Assets
1453
1269
Total
8,327
7,924
Total
8,327
7,924
Rs 1 cr = Rs 10 mn
23
Operational Performance Break-up
Q4 FY25
FY25
Segment
Uber Luxury
Premium Luxury
Aspirational Luxury
Others
Total
Pre-sales (~Rs cr)
Collections (~Rs cr)
573
235
54
9
870
154
89
57
10
310
Pre-sales (~Rs cr)
1,266
802
373
91
Collections (~Rs cr)
421
294
435
105
2,531
1,255
Rs 1 cr = Rs 10 mn
24
Annexure ESG & Awards
2024 GRESB Development Benchmark Report
Participation & Score
96 2024
95 2023
Development Score Sector Leader award
68
70
GRESB Average 59
Benchmark Average 66
Sunteck Realty has achieved outstanding GRESB (Global Real Estate Sustainability Benchmark) score of 96 for FY24
Earning the prestigious Sector Leader award in the the 2024 GRESB Real Estate Assessment Development Benchmark
for
This recognition places Sunteck among the top 20% of global real estate performers, underscoring its strong commitment to ESG principles
26
Green Building Initiatives
• Four projects, 4th Avenue, SunteckCity, ODC Goregaon W; Sunteck Maxxworld & Sunteck Oneworld, Naigaon and Sunteck Beach Residences (SBR), Vasai W has been awarded with EDGE (Excellence in Design for Greater Efficiencies) Pre-certifcation (IFC-International Finance Corporation -The World Bank Group).
• Three of our commercials buildings; BKC51, Icon and Crest has been
awarded EDGE –IFC pre certification
• Our HO Sunteck Centre has been awarded LEED GOLD certification by US Green building council
27
Awards
‘International Asia Pacific Property Awards’ UK 2024-25 in the category of ‘Sustainable Residential Development’ for the prestigious project ‘4th Avenue, Sunteck City’
28
Thank you ir@sunteckindia.com