SUNTECKNSE22 January 2024

Sunteck Realty Limited has informed the Exchange about Investor Presentation

Sunteck Realty Limited

Sunteck Realty Ltd.

SRL/SE/66/23-24

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: 22nd January, 2024

BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai – 400 001 Scrip Code: 512179

Sub: Revised - Investor Presentation on Q3 FY24 results

Dear Sir/ Madam,

This is with reference to our letter dated 21.01.2024 regarding submission of Investor Presentation on Quarterly Results Q3 FY24. In this regard, please find attached herewith revised Investor Presentation on Quarterly Results Q3 FY24.

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

Q3 & 9M FY24

January 2024

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 September 30, 2023 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.

Key Strengths - Why Sunteck?

Key Strengths – Why Sunteck?

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

Expanding Annuity Income Portfolio – Rs 300 cr plus rental, capital value creation of ~Rs 5,000 cr

Strong Financial Performance – With negligible Net D/E of 0.02x and strong operational CAGR of ~20%+

Well-timed Capital Allocation for acquisitions - Acquired more than ~50 mn sq ft & GDV of ~Rs 29,650 cr

Successful equity partnerships – Partnerships with Kotak Fund and Ajay Piramal Group and now, with IFC- World Bank Group

Snapshot

Strong Operational Foothold

One of the large developers in MMR – largest & fastest growing market

INR~29,650 cr of GDV from ~7 large projects

~50 MSF+ total development acquisitions

17 projects successfully delivered

Well-timed capital allocation with JDA & outright model

5 Rs 1 cr = Rs 10 mn

Strong Foothold in MMR Market – largest & fastest growing in India MMR-Focused Luxury Real Estate Developer (1/2)

By Location Volume

By Project Brands

Strong Foothold in MMR market – largest & fastest growing in India MMR is the most attractive real estate market in India (2/2)

NU. OF UNITS SOLD IN-CY23

MMR AFFORDABILITY MATRIX

86,871

54,046

60,002

49,266

93%

52%

53%

51%

32,880

14,999

16,113

14,920

MMR

Bengaluru

NCR

Pune

Hyderabad

Kolkata

Ahmedabad

Chennai

2010

2021

2022

2023

NU. OF UNITS LAUNCHED IN-CY23

INR/SQ FT FOR-CY23

93,051

62,649

51,126

42,437

46,985

15,730

22,497

16,272

7,883

5,900

4,759

4,507

5,550

3,589

3,031

4,472

MMR

Bengaluru

NCR

Pune

Hyderabad

Kolkata

Ahmedabad

Chennai

MMR

Bengaluru

NCR

Pune

Hyderabad

Kolkata

Ahmedabad

Chennai

Source: Industry Reports

Luxury portfolio in every segment & across micro-markets From Uber Luxury to Aspirational Luxury

Premium positioning by creating different luxury brands across segments

Well-timed Capital Allocation for acquisitions Acquired more than ~50 mn sq ft & GDV of ~Rs 29,650 cr (1/2)

GDV - 7 Growth Engines to drive Pre-sales growth (as of Q3’FY24) GDV more than doubled in less than 3 years (2/2)

GDV – Balance Gross Development Value excluding sales already done

Rs 1 bn = Rs 100 cr

Launched

Upcoming

Future

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

GDV – ~Rs 19,345 cr

**Launched Towards The End of Q4 FY23 (End of March 2023)

**Sunteck Sky Park, Mira Rd GDV – Rs 2,450 cr

SBR, Vasai West GDV – Rs 4,050 cr

Sunteck World, Naigaon GDV – Rs 5200cr

Sunteck City, ODC,Goregaon GDV – Rs 6100 cr

Signature & Signia, BKC GDV – Rs 1,545 cr

GDV – ~Rs 27,150 cr

***Launched Towards The End of Q3 FY24

***Sunteck Crescent Park, Kalyan GDV – Rs 8,925 cr

Sunteck Sky Park, Mira Rd GDV – Rs 2,025 cr

SBR, Vasai West GDV – Rs 3,950 cr

Sunteck World, Naigaon GDV – Rs 4,925 cr

Sunteck City, ODC,Goregaon GDV – Rs 5,900 cr

Signature & Signia, BKC GDV – Rs 1,425 cr

GDV – ~Rs 29,650 cr

Nepean Sea Road GDV – Rs 2,500 cr

***Sunteck Crescent Park, Kalyan GDV – Rs 8,925 cr

Sunteck Sky Park, Mira Rd GDV – Rs 2,025 cr

SBR, Vasai West GDV – Rs 3,950 cr

Sunteck World, Naigaon GDV – Rs 4,925 cr

Sunteck City, ODC,Goregaon GDV – Rs 5,900 cr

Signature & Signia, BKC GDV – Rs 1,425 cr

FY2022 Pre-sales: ~Rs 1,303 cr

FY2023 Pre-sales: ~Rs 1,602 cr

FY2024E ~6 Growth Engines

FY2025E ~7 Growth Engines

Expanding Annuity Income Portfolio Rs 300 cr plus rental, capital value creation of ~Rs 5,000 cr

Launched

Upcoming

Future

Capital Value – ~Rs 1,050 cr

Capital Value – ~Rs 525 cr

Sunteck BKC 51, BKC Jn. Avg. Rental Income – Rs 35 cr

Sunteck Icon, BKC Jn. Avg. Rental Income – Rs 35 cr

Sunteck BKC 51, BKC Jn. Avg. Rental Income – Rs 35 cr

Capital Value – ~Rs 5,000 cr

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 Average Annual Rental Income: ~Rs 35 cr

FY2025E Total Average Annual Rental Income: ~Rs 70 cr

FY2027E Total Average Annual Rental Income: ~Rs 320 cr

BKC – Bandra Kurla Complex, ODC – Oshiwara District Center, Goregaon West

Rs 1 bn = Rs 100 cr

Strong Financial Performance

Amongst industry best financials

0.02x Net Debt to Equity Ratio

~35% Embeded EBITDA margin

~20%+ Cashflow Surplus Yield

AA- Long term credit rating from Fitch and CARE

INR 750 cr partnership with IFC – World Bank Group

Rs 1 cr = Rs 10 mn

Strong Financial Performance Net Debt to Equity @ 0.02x Sunteck’s Long-Term Credit Rating is AA- with Positive Outlook from FITCH & CARE (1/5)

Particulars (~Rs cr)

Total Debt

As on 31st Dec 23# 446

As on 30th Sep, 23# 537

Less: Cash, Bank, Liquid Investments

Less: Loans to JDA partners

Net Debt

Net Worth

Net Debt / Equity

Quasi-Equity and Others*

Adjusted Net Debt

204

193

3,028

0.02x

140

181

259

2,748

0.09x

348

Adj. Net Debt / Equity

0.05x

0.13x

2.00x

1.80x

1.60x

1.40x

1.20x

1.00x

0.80x

0.60x

0.40x

0.20x

0.00x

> ~38.5 mn sq ft of projects acquired since

2018

> Of which, ~25.5 mn sq ft has been acquired since the onset of COVID-19 pandemic

1.04x

0.89x

0.74x

0.58x

0.75x

0.70x

0.51x

0.17x 0.17x

0.22x

0.17x 0.19x

0.10x

0.02x

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 M 9

*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. #30th June, 23 is Provisional.

Rs 1 cr = Rs 10 mn

Strong Financial Performance Embedded EBITDA Margin of ~35% (2/5)

Proforma P&L (basis operating performance)

9M FY24

Particulars

Pre-sales

Embedded EBITDA

D&A

Finance Cost

PBT

Tax @ 25.2% (assumed)

PAT

Rs cr

1,237

436

380

284

35%

31%

23%

2,000

1,500

1,000

500

1,400

1,200

1,000

800

600

400

200

Operating Performance Yearly Pre-sales (~Rs cr)

1,602

1,303

1,237

1,022

FY21

FY22

FY23

9MFY24

Yearly Collections (~Rs cr)

1,250

1,053

940

780

Rs 1 cr = Rs 10 mn

*As per current estimates, subject to change

FY21

FY22

FY23

9MFY24

*9M FY24 collections includes one-time inflows from security sale

Strong Financial Performance Strong Operational Growth (3/5)

Trailing 12M Pre-sales stands strong at Rs. 1,772 cr as of 9MFY24, leading to High Cash Flow Visibility

Trailing 12M Pre-sales

2,000

1,800

1,600

1,400

1,200

1,000

800

600

400

200

1,172

2 2 Y F 3 Q

1,569

3 2 Y F 3 Q

1,772

4 2 Y F 3 Q

Rs 1 cr = Rs 10 mn

Strong Financial Performance Cashflow Surplus Yield @~22% (4/5)

Net CF Surplus (~Rs cr)

Net CF Surplus Yield

428

281

239

450

400

350

300

250

200

150

100

22%

15%

12%

25%

20%

15%

10%

FY21

FY22

FY23

FY21

FY22

FY23

• As the company follows Project Completion Method of Accounting, CF Surplus Yield (Net CF Surplus / Adjusted Networth) is considered • Adjusted Networth for FY23 (~Rs 1,962 cr) = Total Equity (~Rs 2,788 cr) – Capital Reserve (~Rs 825 cr)

Rs 1 cr = Rs 10 mn

Strong Financial Performance High revenue & profits visibility (5/5)

Follows Project Completion Method (PCM) of Accounting wherein P&L recognition occurs as the project is delivered

2 large projects will get delivered in the coming years leading to strong revenue recognition in P&L

Key Target

FY24 E

FY25 E

Projects to be delivered

Revenue to be recognised

Sunteck Maxx World, Naigaon

Sunteck City 4th Avenue, ODC, Goregaon W

Approx. Rs 750 - 850 cr

Approx. Rs 950 – 1,050 cr

*Subject to variances on account of various approvals, market factors

Rs 1 cr = Rs 10 mn

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

ESG

> Sunteck Realty has received the prestigious 5-star rating from GRESB (Global Real Estate Sustainability Benchmark) in its second year of submission with a strong score of 95

> Sunteck Realty has been ranked 3rd rank in Asia-pacific

Diversified Office/ Residential Peer comparison

ESG Highlights

>90%

31% Women Representation in organization

Of our properties are green building pre- certified (EDGE IFC)

Sunteck Head office is LEED Existing building Gold certified

4.3 times

Increase in employee trainings hours

Zero Waste to landfill

& Plastic neutrality at Signature Island, Signia Isles, BKC

32%

ISO

Recycled materials used for construction

9001:2015, 14001:2015 & 45001:2018 Certified

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).

• Our HO Sunteck Centre has been awarded LEED GOLD certification by US Green building council

• Three of our commercials buildings; BKC51, Icon and Crest has been

awarded EDGE –IFC pre certification

Q3 & 9M FY24 Highlights

Strong Net Cash Flow Surplus crosses Rs 1,200 cr in 3.75 years

Particulars (~Rs cr)

9M FY24

Cumulative NCF Surplus (~Rs cr)

Gross Cash Inflows

Less: Project Expenses

Less: JDA Revenue Share

Gross Cash Flow Surplus

Less: Other Expenses

Net Cash Flow Surplus

Amount spent on BD/LO/JDA Cost

NCF Surplus post capex

940

448

429

126

304

213

1400

1200

1000

800

600

400

200

1,252

948

520

281

FY21

FY22

FY23

9M FY24

*9M FY24 collections includes one-time inflows from security sale

Rs 1 cr = Rs 10 mn

Operational Performance Break-up

Trailing 12 months Pre-sales at ~Rs 1,772 cr

Segment

Projects

Pre-sales (~Rs cr)

Collections (~Rs cr)

Pre-sales (~Rs cr)

Collections (~Rs cr)

9M FY24

Q3 FY24

Uber Luxury

Signature, Signia

High Mid-income

Sunteck City, SBR, Sky Park

Low Mid-Income

Sunteck World

Others

Total

129

668

290

149

1,237

328

145

406

940

179

143

455

312

438

*Q3 & 9M FY24 “Others” Collections includes one-time inflows from security sale.

Rs 1 cr = Rs 10 mn

Strong Core EBITDA margin in P&L

• SRL follows Project Completion Method of Accounting – Direct (Attributable) Costs pertains to projects from

which revenue has been recognized in respective quarter

•

Indirect (Non-attributable) Costs pertains to expenses from which revenue recognition has not started, but booked in P&L as per accounting standards

Particulars (~Rs cr)

Q3’24

Q3’23

Q2’24

FY 23

Revenue

Less: Direct Costs

Core EBITDA

362

199

163

- Core EBITDA Margin

41.9% 43.8% 43.2%

45.1%

Add: Other Income

Less: Indirect Costs

Less: Finance Costs

PBT

Less: Taxes

Reported PAT

Rs 1 cr = Rs 10 mn

(15)

(5)

(10)

(20)

(6)

(14)

101

1.4

50.0%

45.0%

40.0%

35.0%

30.0%

25.0%

20.0%

15.0%

10.0%

5.0%

0.0%

Core EBITDA Margin

41.9%

43.8%

43.2%

45.1%

Q3 FY24

Q3 FY23

Q2 FY24

FY23 26

Experience Leadership 200+ years of combined experience across RE, banking & finance, law & compliance

Kamal Khetan Chairman & MD

Atul Poopal Executive Director

~3 decades of experience in the Real Estate industry. Formulate corporate strategy, acquisition, execution & diversification plans.

>3 decades of experience in the field of civil engineering, development regulations and project assessments.

Rachana Hingrajia Director

~2 decades of experience in corporate law compliances. Additionally, Company Secretary of Sunteck Realty.

V P Shetty Independent Director

Has held C&MD position in UCO, Canara and IDBI Bank. Over 4 decades of experience in Banking.

Mukesh Jain Independent Director

>4 decades of experience in Banking, Real Estate and Insolvency. Presently, practicing law. (Practicing legal consultant)

Chaitanya Dalal Independent Director

>3 decades of experience in audits including Statutory and CAG audits. Practicing CA. (Prominent in financial markets)

Sandhya Malhotra Independent Director

~2 decades of experience in corporate law compliances. Active involvement in human rights and CSR matters.

Thank you ir@sunteckindia.com

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