Keystone Realtors Limited has informed the Exchange about Investor Presentation
Date: February 25, 2024
The General Manager, Listing Department, Bombay Stock Exchange Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 543669
Subject- Investor Presentation
Dear Sir / Madam,
The Manager, Listing & Compliance Department, National Stock Exchange of India Limited Exchange Plaza, Plot no. C/1, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400 051 Scrip Symbol: RUSTOMJEE
ln accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company’s website:- www.rustomjee.com. The copy of the same is attached herewith.
Investor Presentation
available on
the
is
We request you to take the above on record.
Thanking you,
Yours faithfully, For Keystone Realtors Limited
Bimal K Nanda Company Secretary and Compliance Officer Membership No. A11578
Encl: Investor Presentation
K E Y S T O N E R E A L T O R S L I M I T E D
Registered Office: 702, NATRAJ, M.V.Road Junction, Western Express Highway, Andheri(East), Mumbai-400069.
Tel.:+912266766888 | CIN:L45200MH1995PLC094208| Website:www.rustomjee.com
Corporate Presentation
2024
K e ys t o n e R e a l t o r s L i m i t e d
Disclaimer
This presentation is issued by Keystone Realtors Limited (the “Company”) for general information purposes only, without regard to specific objectives, suitability, financial situations and needs of any particular person. This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefor. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person.
This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures, and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future events. This presentation should not be relied upon as a recommendation or forecast by the Company. Please note that the past performance of the Company or its Subsidiaries is not, and should not be considered as, indicative of future results. The Company cannot guarantee that these assumptions and expectations are accurate or will be realised. The actual results, performance or achievements, could thus differ materially from those projected in any such forward-looking statements. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company or its Subsidiaries . Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements.
This presentation may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. Failure to comply with this restriction may constitute a violation of applicable laws.
The information contained in these materials has not been independently verified. None of the Company or its Subsidiaries , its Directors or affiliates nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with this document, and makes no representation or warranty, express or implied, for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The information and opinions contained in this presentation are current, and if not stated otherwise, as of the date of this presentation. The Company undertakes no obligation to update or revise any information or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice.
Unless otherwise indicated or the context otherwise requires, the financial information included in this presentation for Fiscal 2022 and Fiscal 2023 have been derived from our Audited Consolidated Financial Statements for Fiscal 2022 and Fiscal 2023, respectively, while financial information included for Fiscal 2021 is derived from the comparative financial information for Fiscal 2021 included in our Audited Consolidated Financial Statements for Fiscal 2022. Unless otherwise indicated or the context otherwise requires, the financial information included in this presentation for the nine months ended December 31,2022 and December 31, 2023 has been derived from our unaudited consolidated financial results as disclosed to the stock exchanges. Certain errors in our historical audited consolidated financial statements as of and for the year ended March 31, 2021, have been reflected as restatement adjustments in our Audited Consolidated Financial Statements for Fiscal 2022. During the process of preparation of our audited consolidated financial statements for Fiscal 2022, we identified errors in respect of accounting for the aforesaid complex transactions and have restated the same to give the correct accounting treatment.
Neither this document nor any part or copy of it may be distributed, directly or indirectly, in the United States. This presentation is not an offer to sell or a solicitation of any offer to buy the securities of the Company in the United States or in any other jurisdiction where such offer or sale would be unlawful. Securities may not be offered, sold, resold, pledged, delivered, distributed or transferred, directly or indirectly, in to or within the United States absent registration under the United States Securities Act of 1933, as amended (the “Securities Act”), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The Company’s securities have not been and will not be registered under the Securities Act. The distribution of these materials in certain jurisdictions may be restricted by law and persons into whose possession these materials comes should inform themselves about and observe any such restrictions. Accordingly, any persons in possession of the aforesaid should inform themselves about and observe any such restrictions. By reviewing this presentation, you agree to be bound by the foregoing limitations. You further represent and agree that you are permitted under the laws of your jurisdiction to receive this presentation. You may not repackage or sell the presentation. Information contained in a presentation hosted or promoted by the Company is provided “as is” without warranty of any kind, either expressed or implied, including any warranty of fitness for a particular purpose.
1
Table of Contents
1
2
3
4
5
MMR Real Estate Overview
Rustomjee Overview
Business Enablers
Operational And Financial Overview
Appendix
MMR Real Estate Overview
MMR has amongst the highest Market Share across the seven major Indian markets
MMR has the maximum share across the top 7 cities in 2023 In units
MMR absorption highest ever in 2023 since 2017
In units
Kolkata 4%
NCR 8%
MMR 35%
Supply 2023
Bangalore 12%
Pune 19%
Chennai 5%
Hyderabad 17%
Kolkata 5%
NCR 14%
MMR 32%
Absorption 2023
Bangalore 13%
Chennai 5%
Hyderabad 13%
Pune 18%
11,595
12,888
10,392
10,497
10,580
10,610
10,886
9 9 6 , 3 5
2 7 9 , 6 5
6 2 9 , 9 5
1 4 4 , 6 6
9 8 9 , 7 7
9 6 8 , 0 8
5 8 2 , 0 3
3 2 3 , 4 4
3 8 8 , 6 5
6 9 3 , 6 7
2 5 6 , 4 2 , 1
3 3 7 , 9 0 , 1
9 9 6 , 7 5 , 1
0 7 8 , 3 5 , 1
2017
2018
2019
2020
2021
2022
2023
Supply (Units)
Absorption (Units)
Weighted Avg Price (INR / sft) (RHS)
Need of redevelopment
Share of re-development units vs. overall supply in MMR
(in no. of units launched between CY17-21)
Mumbai has limited supply of sizeable land for any greenfield development
Total supply
1,679
1,387
400
356
346
Various initiatives have been taken by the government to unlock land parcels via redevelopment of old residential properties, industrial establishments etc.
Source: Anarock Industry Report
Redevelopment unit supply
1,378
1,159
307
Market share %
82%
Bandra (E)
84%
Parel
77%
Prabha- devi
232
65%
Sewri
212
61%
Juhu
4
Rustomjee Overview
Rustomjee : A Snapshot
27+
Years of existence
23+
Msf developed
2
Mega Townships
280+
Completed Buildings
40+
Msf in pipeline
16,000+
Homes Developed I ncluding Redeveloped 1,400+ homes
MMR Focused
Redevelopment Player
Asset Light Model
Diversified Expertise and Capability to develop standalone
buildings to large townships
Asset-light approach focused on optimizing the upfront capital
expenditure; achieving better return on equity and capital
employed
Continued focus on customer satisfaction, attracting higher premiums
End to end capabilities with in-house expertise across verticals
Proven Execution Track Record in executing greenfield,
brownfield, development/redevelopment properties in
residential & commercial segments
Significant Management Expertise possessing more than two
decades experience in the real estate business
Note: 1. All details as of 31st December 2023 2. All operational information includes information in relation to Kapstone Constructions Private Limited, a joint venture entity, which is undertaking development of Urbania Township Development and Development Management undertaken by the Company
6
Our Journey over Two Decades
• Launched its
first residential Development
• Launched the Development ‘Adarsh/Rivera’ in Malad
• Launched the
township tower ‘Urbania’ in Thane
• Mausmi SA Investments
LLC made an investment in Keystone
• Trinity Capital (Fifteen)
Limited invested in Enigma Constructions Private Limited, Rustomjee Construction Private Limited and Kapstone Constructions Private Limited’
• Launched the
• Entered into a
redevelopment t ‘Seasons’ in Bandra East
development management agreement for the Development ‘Crown’ in Prabhadevi
• Acquired land located at Bandra (Bandstand)
IPO Listing
• Sales launch
Cleon, Rustomjee La Vie (A,B &C)
• Developments completed Yazarina (A), Summit1, Crown2 (A), Urbania (L & D), Central Park
1996
1998
2000
2001
2006
2007
2009
2010
2011
2013
2014
2018
2020
2021
2022
2023
• Launched the ‘Regency’ Development in Dahisar
• Launched premium Development ‘9 JVPD’ on 10th road Juhu
• Launched slum redevelopment ‘Elita’ in Andheri West.
• Launched township Development ‘Global City’ in Virar.
• Launched
the redevelop ment ‘Oriana’ in Bandra East
• Launched the luxury gated community Development ‘Elements’ in Juhu/Andheri
Note: 1. Summit - Part OC has been received up to the 38th floor 2. Crown - Part OC has been received for Wing A upto the 62nd floor.
• Launched the gated
community Development ‘Paramount’ in Khar
• Giza Holdings PTE
•
Limited and Voldemort Investment Holding Company Limited (an entity advised by Xander Investment Management Pte. Ltd.) invested in Kapstone Constructions Private Limited
Investment by Lipalton Pte. Ltd (a wholly owned subsidiary of Keppel Land Limited) as its strategic partner in Kapstone Constructions Private Limited
• Partnered with
strategic investors such as HDFC Capital Affordable Real Estate Fund – 3, IIFL Special Opportunities Fund - Series 9 and IIFL Special Opportunities Fund - Series 10, Dreamz Dwellers LLP
7
Our Execution Track Record (9M FY24)
3+ msf
Developments Completed
INR 54,253 Lakhs
Construction Spend
739 Keys
Handed over to our Happy Clients
4
Developments launched
1.48 msf
Saleable Area launched
Developments Completed : Developable area of the Developments for which the OC has been received. Part OC for Summit, Central Park & Crown Tower A Saleable Area Launched : The saleable area of the Developments for which the RERA certificate is received and Development is made available for sale
Note: 1. 2. 3. Construction Spend excludes Land/ FSI / Interest Cost 4.
Keys handed over refers to the number of units handed over to buyers
8
ELEMENTS – JUHU
SEASONS – BANDRA (E)
CROWN - PRABHADEVI
Our Marquee Developments
PARAMOUNT – KHAR (W)
URBANIA - THANE
13
Developments added in FY 23 and 9M FY24
FY23
9M FY 24
Residential Developments Added
(Development Total Estimated Saleable Area)
Jariwala, Mahim
0.48 msf
Vivekanand CHSL, Bandra E
0.16 msf
Crescent Apartments, Pali Hill
0.25 msf
Panorama, Pali Hill
0.06 msf
Sagar Tarang, Versova
Kher Nagar 31, Bandra E
Dhuruvadi, Prabhadevi
0.15 msf
0.14 msf
0.12 msf
Majithia Nagar, Kandivali W
0.83 msf
Basant Park CHSL, Chembur
0.45 msf
FY23
Haren Textiles, Dahisar E
0.92 msf
9M FY24
5 Developments Added having Total Estimated Saleable Area of
5 Developments Added having Total Estimated Saleable Area of
~ 1.38 msf
~ 2.20 msf
Total Estimated Saleable Area rounded of to 2 decimal numbers
• • W - West, E - East
10
Focus on Mid & Mass and Aspirational Segment along with expansion into New Micro Markets
V i r a r
New Developments Added - FY23 & 9M FY24
No. Of Developments Added
Total Estimated Saleable Area (Mn Sq Ft)
% of New Developments Added in Term of Total Estimated Saleable Area
3
4
3
10
0.46
1.22
1.89
3.58
13%
87%
100%
Segment
Super Premium / Premium
Aspirational
Mid & Mass
Total
New Micro Markets added in FY 23 and 9M FY 24
Chembur, Mahim, Versova, Dahisar
•
Total Estimated Saleable Area rounded of to 2 decimal numbers
B o r i v a l i
T h a n e
C h e m b u r
N a v i M u m b a i
B a n d r a ( W )
P r a b h a d e v i
C h u r c h g a t e
Developments Pre FY23
New Development Added – FY23 onwards
New Micro Markets Added – FY23 onwards
11
Our Development Portfolio (Basis Mode of Acquisition)
Ongoing Developments With Ready to Move Developments
12.15 msf Total Saleable Area (msf)
Own Land 9.0%
DA (Redevelopment) 11.1%
Forthcoming Developments
25.50 msf Total Estimated Saleable Area (msf)
Own Land 29.4%
JV + JDA 79.9%
JV + JDA, 53.7%
DM 1.9%
DA (Redevelopment), 15.0%
Note : 1. 2. 3. 4.
Total Saleable Area/ Total Estimated Saleable Area as of 31st December 2023 Ready to Move Saleable Area includes the total saleable area of the completed Developments with unsold units JV – Joint Venture, JDA – Joint Development Agreement, DM – Developer Management, DA – Development Agreement Total Estimated Saleable Area excludes area share of landowners
12
Our Ready to Move and Ongoing Developments
as of 31st December 2023
Total Saleable Area (msf)
12.15
Sold Area
~ 81%
Sold Receivables (INR lakhs)
2,20,318
Elements C
Seasons D
Summit
Urbania Azziano
Completed Developments With Ready to move in Inventory
Crown A
Yazarina A&C
Global City Ph I & II
Erika
Bella
Parishram
Global City Ph II
Ongoing Developments
Crown B & C
Paramount
Ashiana
Urbania La Familia A/B/C & LaVie A/B/C
Aden
Cleon
Note 1. 2. 3.
Total Saleable Area rounded of to 2 decimal numbers Sold Receivables - Total Pre Sales Value plus Other Receipts less Collections and unpaid Stamp Duty if any Ready to Move Developments means completed developments with unsold units or sold receivables
13
Our Forthcoming Developments
as of 31st December 2023
Redevelopment
Township Developments3
Development
Ambedkar Society
Ozone PG
Cliff Tower
Dnyaneshwar Nagar
OB 12/13 (Commercial)
Sagar Tarang
Jariwala Compound
Vivekanand CHSL
Stella (Khernagar Building No 31)
Panorama
Basant Park CHSL
Dhuruwadi
Majithia
Crescent
Jyotirling
Total
Micro Market
Khar W
Goregaon W
Bandra W
Sewri
Bandra E
Versova
Mahim
Bandra E
Bandra E
Pali Hill
Chembur
Prabhadevi
Kandivali W
Pali Hill
Goregaon E
Estimated Saleable Area (msf)
0.31
0.21
0.10
0.36
0.06
0.15
0.48
0.16
0.14
0.06
0.45
0.12
0.83
0.25
0.94
4.64
Development
Micro Market
Estimated Saleable Area (msf)
Urbania
Dombivali
Virar Ph 3
Total
Thane W
Dombivali
Virar
4.62
2.56
5.19
12.36
Other Residential Developments
Development Bandstand Garden Estate Haren - Dahisar Charkop Total
Micro Market Bandra W Thane Dahisar E Kandivali W
Estimated Saleable Area (msf) 0.35 1.41 0.92 0.58 3.26
Plotted Developments
Development
Micro Market
Total Estimated Saleable Area (msf)
Manori
Manori
0.33
Commercial Developments4
Development
Micro Market
Total Estimated Saleable Area (msf)
Thane Commercial
Thane
4.90
Note: 1. 2. 3.
Estimated Saleable Area rounded of to 2 decimal numbers W- West, E – East Represents Residential Portion
4. 5.
Part of Urbania Township Development Naigaon land is not included as FSI is yet to be determined
14
We are well placed in the Redevelopment lifecycle
Stage 3
Development Launched
Stage 2
Development Agreement Signed Approvals applied or to be applied
Stage 1
LOI/ Term sheet in Place Development Agreement in Process
Development
Micro Market
Estimated Saleable Area (msf)
3 e g a t S
2 e g a t S
1 e g a t S
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Stella (Khernagar Building No 31)
Bandra E
Panorama
Jariwala Compound
Sagar Tarang
Basant Park CHSL
Cliff Tower
OB 12/13 (Commercial)
Pali Hill
Mahim
Versova
Chembur
Bandra W
Bandra E
Ozone PG
Goregaon W
Dnyaneshwar Nagar
Crescent
Dhuruwadi
Vivekanand CHSL
Majithia
Ambedkar Society
Jyotirling
Total Estimated Saleable Area
Sewri
Pali Hill
Prabhadevi
Bandra E
Kandivali W
Khar W
Goregaon E
0.14
0.06
0.48
0.15
0.45
0.10
0.06
0.21
0.36
0.25
0.12
0.16
0.83
0.31
0.94
4.64
Note : 1. 2.
Estimated Saleable Area rounded of to 2 decimal numbers W- West, E – East
15
Our Developments below are a testament to our robust experience in Redevelopment Category
ORIANA, BKC
SEASONS, BKC
Elements, Off Juhu Circle
Paramount, Khar (W)
e r o e B
f
r e
t f
A
Awarded Best Community Design & Redevelopment Project by NDTV Property Awards 2016
Turnaround Time Of 2.8 Years1. Awarded Best Re-development Project by Et Now Real Estate Awards In 2019.
Development Was Stalled For Several Years. 480 Families Were Rehoused After Rustomjee Took Over
Turnaround Time Of 3 Years1.
Initial Investment % of Sales Value2
Operating Margin (%)3
11%
39%
6%
47%
7%
40%
Company information.
Source: 1. Turnaround time is time between receipt of commencement certificate and commencement of handover of units 2. 3. Operating margin is defined as total sales value(Cumulative Sales Value as of June 30, 2022 extrapolated for if 100% of inventory was sold) less land cost, premium and approval cost, construction costs including consultant cost but excluding overheads and sales and marketing costs divided by total sales value.
Initial Capital Investment is defined as expenditure before the relevant Development is ready to be launched.
16
Our Township Developments1 across MMR
2
V i r a r
1. Rustomjee Urbania, Thane
2. Rustomjee Global City, Virar
3. Dombivli
Under Planning
Completed & Ongoing Phases 3.70 msf of saleable area with 61% of the area sold Sold Receivables – INR 80,847 Lakhs Unsold Inventory – 1.46 msf
Forthcoming 4.62 msf of estimated saleable area
Completed & Ongoing Phases 5.05 msf of saleable area with 97% of the area sold Sold Receivables – INR 14,407 lakhs Unsold Inventory – 0.13 msf
Forthcoming 5.19 msf of estimated saleable area
Forthcoming 2.56 msf of estimated saleable area
Note 1. 2.
Represents Residential Portion of the overall township development Sold Receivables - Total Pre Sales Value plus Other Receipts less Collections and unpaid Stamp Duty if any
B o r i v a l i
1
T h a n e
C h e m b u r
N a v i M u m b a i
B a n d r a ( W )
P r a b h a d e v i
3
17
Business Enablers
Technology in Planning, Execution, Sales & Marketing
Development planning & Execution
• Combined implementation of ERP and BIM systems maximizes productivity and cost estimation.
• Automated and digitized
invoice settlement process boosts transparency between all stakeholders.
• Smart management measures
through detailed status monitoring of execution.
Sales & Customer Experience
Recent Updates
• Helps better understand
customer preferences and expedite customer purchase decisions resulting in greater efficiency and reduced manpower costs.
• CRM platform supports
automation in marketing campaigns and personalized communications through intelligent chatbots.
• Automated and transparent system built-into execution flow: Reduced margin of error for contractors & vendors.
• Channel partner portal allows
for centralized procurement of Marketing Collaterals.
• Virtual Assistant Chatbot: Integrated, AI-driven, self-learning virtual assistant.
19
Leverage technology across planning, execution and S&M
Development Planning and Execution
Sales and Customer Experience
Efficient Customer Life-Cycle Management
• Combined implementation of ERP and BIM systems maximizes
productivity and cost estimation.
• Automated and digitized invoice settlement process boosts
transparency between all stakeholders
• Smart management measures through detailed status monitoring
• Helps better understand customer preferences and expedite customer
purchase decisions resulting in greater efficiency and reduced manpower costs
• CRM platform supports automation in marketing campaigns and
personalized communications through intelligent chatbots.
of execution
Recent Updates
Automated and transparent system built-into execution flow
Reduced margin of error for contractors & vendors.
Virtual Assistant Chatbot
Integrated, AI-driven, self- learning virtual assistant
Source: Company information.
20
Our Ecosystem
Mt. K Kapital Category II – AIF1
CREST – Property Management Services2
Fifth Wall Designs3
• Mt. K Kapital Private Limited, which is a
subsidiary of Keystone Realtors Limited, is a real estate focused fund management company and acts as the investment manager of Mt. K Kapital Trust, a SEBI registered Category II Alternative Investment Fund.
• Provides services post purchase of a residential and commercial assets
• Crest provides integrated property management services including:
Facility Management Staffing Solutions Leasing Services
• • • • Development Management Consultancy • CAM Estimates and Budgeting
• Provides interior design services to
residential clients
Note : 1. 2. 3.
Subsidiary – Mt. K Kapital Private Limited Subsidiary - Crest Property Solutions Private Limited Subsidiary - Key Interiors Realtors Private Limited
21
Experienced Promoters and Directors
Promoter Directors
Boman Irani C H A I R M A N A N D M A N A G I N G D I R E C T O R
• 27+ years of Real Estate experience • President of (CREDAI) - MCHI
Chandresh Mehta E X E C U T I V E D I R E C T O R
Percy Chowdhry E X E C U T I V E D I R E C T O R
• 27+ years of Real Estate Experience • Directs the redevelopment initiatives for the Group
• 24+ years of Real Estate Experience • Directs Sales, Marketing and HR
functions
Independent Directors
Ramesh Tainwala N O N - E X E C U T I V E I N D E P E N D E N T D I R E C T O R
• Previously associated with
Samsonite International as CEO
Rahul Divan N O N - E X E C U T I V E I N D E P E N D E N T D I R E C T O R
Seema Mohapatra N O N - E X E C U T I V E I N D E P E N D E N T D I R E C T O R
• Founding partner of Rahul Gautam
Divan & Associates
• Was associated with BBC World Service Trust India as a trustee
22
Backed by a Professional and Reinforced Management Team
Sajal Gupta ( G R O U P C F O & H E A D C O R P O R A T E S T R A T E G Y )
Rakesh Setia ( G R O U P H E A D – S A L E S A N D MA R K E T I N G )
Venkatraman B. ( T E C H N I C A L A D V I S O R T O T H E B O A R D )
Manish Sawant ( G R O U P H E A D – L I A I S O N I N G )
Bimal Nanda ( G R O U P C S A N D C O MP L I A N C E O F F I C E R )
Aradhana P ( G R O U P H E A D L E G A L )
Anupam Verma ( C E O - K A P S T O N E C O N S T R U C T I O N S )
Manish Randev
( P R O J E C T C E O )
Atul Date ( G R O U P H E A D - P L A N N I N G & A R C H I T E C T U R E )
Rahul Mahajan ( C H I E F I N F O R M A T I O N O F F I C E R )
Mahesh Gera
( G R O U P C H I E F H U MA N R E S O U R C E S O F F I C E R )
Vinayak Bhosale ( C H I E F O P E R A T I N G O F F I C E R )
Rohit Prasad ( G R O U P H E A D B U S I N E S S D E V E L O P ME N T )
Binitha Dalal ( C O F O U N D E R – MT . K K A P I T A L )
Harsh Chandra
( P R O J E C T C E O )
Jennifer Sanjana ( P R O J E C T C E O )
Parag Saraiya ( P R O J E C T C E O )
Vineet Mehta ( P R O J E C T C E O )
Vishal Bafna ( P R O J E C T C E O )
Madhusudan Thakur ( H E A D – C O MME R C I A L D E V E L O P ME N T )
Siddharth Bhatt ( C E O , C R E ST P R O P E R TY S O L U T I O N S )
Sreedharan Veede ( H E A D - S P E C I A L P R O J E C T S )
23
Our Awards and Accolades
“DESIGN PROJECT OF THE YEAR”
RUSTOMJEE PARISHRAM
“INTEGRATED TOWNSHIP OF THE YEAR”
RUSTOMJEE UPTOWN URBANIA
Realty+ Excellence Awards
Realty+ Excellence Awards
“ONE OF INDIA’S TOP BUILDERS”
RUSTOMJEE
“BEST RESIDENTIAL PROJECT - SEGMENT - ULTRA LUXURY”
RUSTOMJEE ELEMENTS
CWAB AWARDS 2023
CNBC-AWAAZ REAL ESTATE AWARDS, 2023
24
Operational & Financial Performance
Performance Snapshot – 9M FY24
Area Sold
0.82
Mn Sq.Ft.
Pre-Sales Value
Collections
1,42,277
₹ Lakhs
1,53,292
₹ Lakhs
Developments Completed
Developments Added – 5
3+
Mn Sq.Ft.
2+
Mn Sq.Ft.
Total Income
EBITDA
PAT
1,44,948
₹ Lakhs
9,625
₹ Lakhs
8,056
₹ Lakhs
Total Income includes other Income EBITDA = Total Income – Total Expense + Depreciation/ Amortization + Finance Cost Pre-Sales for any period refers to the value of all units sold (net of any cancellations) during such period, for which the booking amount has been received
Note : 1. 2. 3. 4. Collections refers to gross collections from sale / lease of units excluding indirect taxes and facility management charges net of cancellations 5.
Area Sold refers to the total carpet area sold along with proportionate loading of common areas which includes area under various services and amenities provided
26
Operational Highlights
PARTICULARS
9M FY24
9M FY23
YoY Growth (%)
FY 23
FY 22
FY 21
Area Sold (Mn Sq. Ft.)
0.82
0.75
9%
1.03
1.49
0.98
Pre-Sales Value (₹ Lakhs)
1,42,277
1,13,127
26%
1,60,440
2,63,925
1,51,659
Collection (₹ Lakhs)
1,53,292
1,16,325
32%
1,86,209
2,03,842
1,23,867
Pre-Sales
Collections
Launches
Business Development
• Pre-Sales for 9M FY24 is INR
• Collection for 9M FY24 stood
• For the period 9M FY24, we
• We have added a total of 5
1,42,277 Lakhs as
at INR 1,53,292 Lakhs as
have launched a total of 4
Developments in 9M FY24
compared to INR 1,13,127
compared to INR 1,16,325
Developments
with an estimated saleable
Lakhs for 9M FY23 showing
Lakhs in 9M FY23 showing a
a growth of 26% YoY on YTD
growth of 32% YoY on YTD
basis.
basis.
area of 2.20 msf.
27
Historical Financial Highlights (Last 3 Financial Year and 9M FY24/ FY23)
Revenue from Operations ( ₹ L a k h s )
EBITDA ( ₹ L a k h s )
PAT ( ₹ L a k h s )
1,26,937
1,41,069
44,220
52.1
16.8
20.9
9.6
6.8
23,183
13,583
84,872
68,566
34,128
1 2 Y F
2 2 Y F
3 2 Y F
3 2 Y F M 9
4 2 Y F M 9
21,295
14,308
9,625
3,288
3 2 Y F M 9
4 2 Y F M 9
1 2 Y F
2 2 Y F
3 2 Y F
EBITDA Margin
7,950
8,056
1 2 Y F
2 2 Y F
3 2 Y F
546
3 2 Y F M 9
4 2 Y F M 9
Note: 1. 2. 3.
EBITDA = Total Income – Total Expense + Depreciation/ Amortization + Finance Cost FY 21 includes onetime gain on loss of control of Subsidiary Rs. 28104 lakhs The financial information for Fiscal 2022 and Fiscal 2023 have been derived from our Audited Consolidated Financial Statements for Fiscal 2022 and Fiscal 2023, respectively, while financial information included for Fiscal 2021 is derived from the comparative financial information for Fiscal 2021 included in our Audited Consolidated Financial Statements for Fiscal 2022. The financial information included in this presentation for the nine months ended December 31,2022 and December 31, 2023 has been derived from our unaudited consolidated financial results
28
Our Leverage
DEBT MOVEMENT (₹ Lakhs)
Secured Gross Debt
Less: Cash and bank balances including long term fixed deposits
Secured Net Debt
Equity Attributable to the Owners of the Parent
Secured Gross Debt to Equity Attributable to the Owners of the Parent Ratio
Secured Net Debt to Equity Attributable to the Owners of the Parent Ratio
FY 21
84,799
29,166
55,633
80,091
1.06
0.69
FY 22
77,254
25,153
52,101
93,264
0.83
0.56
FY 23
45,137
43,257
1,880
1,66,941
0.27
0.01
• Secured Gross Debt represents our secured current and non current debt (including interest accrued)
• Cash and bank balance including long term deposits1
Note: 1.
Includes restricted deposits towards bank guarantee, DSRA, IPO and includes escrow bank balance
29
Shareholding Pattern as on 31st Dec 2023
Promoter & Promoter Group
86.70%
FPI
Mutual Funds
Insurance
AIF
Bodies Corporate
Others
2.44%
5.47%
1.17%
1.55%
1.27%
1.40%
30
Thank You
KEYSTONE REALTORS LIMITED 702, Natraj, M.V. Road Junction, Western Express Highway, Andheri East, Mumbai – 400 069 Website: www.rustomjee.com
INVESTOR RELATIONS CONTACT Email: investor-relations@rustomjee.com Tel: 022 – 667 66 888
Appendix
Ongoing Developments
1
V i r a r
Townships 1. Global City, Virar (W) (Affordable)
2. La Vie, La Familia - Urbania, Thane (W) (Mid and Mass)
Residential Developments 3. Crown- B & C, Prabhadevi (Super Premium/Premium)
4. Bella, Bhandup (W) (Mid and Mass)
5. Paramount, Khar (W) (Aspirational)
6. Erika, Bandra (E) (Mid and Mass)
7. Parishram, Pali Hill (Super Premium/Premium)
8. Ashiana, Juhu (Super Premium/Premium)
9. Aden, Bandra (E) (Aspirational)
10. Cleon, Bandra (E) (Mid and Mass)
Commercial 11. Eaze Zone, Goregaon (W)
B o r i v a l i
2
T h a n e
11
04
C h e m b u r
N a v i M u m b a i
5
8
7
10
6
9
B a n d r a ( W )
3
P r a b h a d e v i
33
Total Forthcoming Developments
As of 31st December 2023
Townships 1. Global City, Virar (W) (Affordable) 2. Urbania, Thane (W) (Mid and Mass)
Commercial 17. Urbania Commercial 18. OB12 + 13, Bandra (E)
Residential Developments 3. Garden Estate, Thane (W) (Mid and Mass) 4. Charkop, Kandivali (W) (Mid and Mass) 5. Ozone (Phase II), Goregaon (W) (Affordable) 6. Dombivli (Affordable) 7. Dnyaneshwar Nagar, Sewri (Mid and Mass) 8. Ambedkar Nagar, Khar (W) (Aspirational) 9. Jyotirling, Goregaon (E) (Mid and Mass) 10. Cliff Tower, Bandra (W) (Super Premium / Premium) 11. Bandstand, Bandra (W) (Super Premium / Premium) 12. Jariwala Compound, Mahim (W) (Aspirational) 13. Sagar Tarang, Andheri (W) (Super Premium / Premium) 14. Vivekanand CHSL, Bandra (E) (Aspirational) 15. Kher Nagar, Bandra (E) (Mid and Mass) 16. Basant Park, Chembur (Aspirational)
Plotted Development 19. Manori
Under planning 20. Naigaon
New Additions (FY 24) 21. Dhuruvadi, Prabhadevi (Aspirational) 22. Panorama, Pali Hill (Super Premium / Premium) 23. Majithia Nagar, Kandivali (W) (Mid and Mass) 24. Crescent Apartments, Pali Hill (Super premium/Premium) 25. Haren Textiles Pvt Ltd & Harit Synthetic Fabrics Pvt Ltd (Mid and Mass)
1
19
V i r a r
20
25
23
4
5
B o r i v a l i
9
3
2
17
T h a n e
16
C h e m b u r
N a v i M u m b a i
13
8
18
10
14
24
15
12
22
11
B a n d r a ( W )
21
7
P r a b h a d e v i
C h u r c h g a t e
6
34