PURVA

Date: 23.01.2024 To, The General Manager, The Manager, Listing Operations Listing Department, Department of Corporate Services National Stock Exchange of India Limited, BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1, P. J. Towers, Dalal Street, Fort, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai- 400 001 Mumbai- 400 051 Stock Code: 532891 Stock Code: PURVA Dear Sir/ Madam, Sub: Analysts/Institutional Investors meeting Presentation Ref: Regulation 30 and Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 We write to inform you that we are enclosing herewith the presentation on the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2023 to be made to the Analysts/Institutional Investors and the same is also being made available on the Company’s website https://www.puravankara.com/. This is for your information and records. Thanking you, Yours sincerely, For Puravankara Limited (Sudip Chatterjee) Company Secretary & Compliance Officer Membership No.: F 11373 INVESTOR PRESENTATION Q3 FY24 Investor Presentation Q3 FY24 1 Table of contents Company Overview 4 – 11 * Operational Overview – Sales and Collections 12 – 18 * Land Bank & Launch Pipeline 19 – 22 * Update on Financials 23 – 25 * Update on Cash flows 26 – 29 * Update on Debt 30 – 34 * Update on inventory : Project Status 35 – 39 * Other corporate information 40 – 52 * Disclaimer 53 * Investor Presentation Q3 FY24 2 Industry Update In the Residential sector, Leasing activity grew by 16% Q-o-Q apartment sales increased 7% & 20% Y-o-Y. Q-o-Q and 22% Y-o-Y R e o r s i Bangalore, Hyderabad and c t Continued momentum d e Total share of sales in Pune, e n Chennai accounted for 60% S t Mumbai and Delhi-NCR is e in residential sector ai of leasing c l 62% if S f O c e t o r Quoted rentals grew by 3-6% in 73% cumulative share of Mumbai, Mumbai, 2-6% in Chennai 1-2% in Hyderabad and Pune in apartment Bangalore launches in Q3-2023 Residential sector Q3 sales has increased by 22% Y-O-Y and Puravankara sales increased by 56% Y-O-Y 3 Investor Presentation Q3 FY24 Company Overview Investor Presentation Q3 FY24 4 Differentiated Brands Offering Wider Customer Base; Larger Market Share. Plotted Development • Established in 1975, 48 years of 83 21,350 experience in real estate development + • India's most reliable real estate Completed residential Homes with Total Area developer, with an established presence projects and of Over 29.13 msft in luxury residences, commercial, commercial projects Under Development premium affordable housing and plotted development. • Partnership with IFC, IFC EAF for USD 76 48 41 msft million for affordable housing msft development in India 83 projects delivered Land bank of over Ongoing • ICRA has reaffirmed Puravankara Ltd.'s 41.62% with over 47.92 msft of 40.86 msft, with 29.13msft Land rating at “A-” Stable. Assets Completed Group’s economic 58.38% Development interest of 32.25 msft 40.86msft Investor Presentation Q3 FY24 5 Our Journey begins in Redevelopment segment in Mumbai Mumbai residential redevelopment real estate market ▪ The redevelopment market is estimated to be worth over Rs 30,000 Cr ▪ 90,000 apartments are expected to be created out of redevelopment over the next three years. ▪ Between 2014 and 2019, redevelopment accounted for merely 5-10% of the total construction activity, but such projects currently make up about 15-20% in Mumbai and is projected to grow even further in the next two to three years, potentially reaching 25-30% Our Redevelopment Outreach ▪ We are excited and encouraged with our foray into the Mumbai redevelopment market with our first project situated in Lokhandwala, Andheri West of approximately 0.6msft and a GDV of Rs 1,500 crores. ▪ We are actively pursuing 12 opportunities and are shortlisted with advance discussions ongoing with 4 societies 6 Starworth Infrastructure and Construction Ltd A wholly owned subsidiary focused on technology enabled construction solutions • Order Book of more than Rs 1,100 Cr. Parkhill • Undertakes residential, commercial, infrastructure & industrial projects. Taj GVK Ampa • 20+ msft completed & 9+ msft ongoing • Provides end to end services starting from design to handover Parksquare • Technology focused Precast factory & Precast Products line fully operational at Bangalore. PURVA Silversand OCC • Using off-site construction technology – precast for making Villas for plotted development customers in 119 days . sample villa structure completed. • Marquee clients includes BMRCL, ITC Limited, Jindal Steel & Power, Taj Star Homes Sample Villa GVK, BIAL,HCC, HRC, OCC, Taj BIAL, Star Homes, Parkhill, Purva Taj BIAL Silversand,Godrej Properties, DAE, AMPA. Investor Presentation Q3 FY24 7 Key Business Highlights – 9M FY24 3,967 5.01 2,515 7,916 ~INR Cr msft ~INR Cr ~INR Sales Value* Sales volume Customer Collections* Average Realization ₹ per sft Increase in sales by Increase in sales volume by 57% YoY increase indicating Increase by 5% YoY 89% YoY 80% YoY improving operating efficiencies Achieved the highest ever sale value and collections for first 9 months period of any financial year since inception. 1,313 49 30% ~INR Cr ~INR Cr profit Total Revenue PAT EBIDTA Margin Up by 41% EBIDTA for Q3FY24 is 392 Cr Revenue grew by 37% YoY PAT Margin of 4% *inclusive of taxes Investor Presentation Q3 FY24 8 Key Business Highlights – Q3 FY24 1,241 1.63 941 7,610 ~INR Cr msft ~INR Cr ~INR Sales Value* Sales volume Customer Collections* Average Realization ₹ per sft Increase in sales by Increase in sales volume by 52% YoY increase indicating Decreased by 2% YoY due to mix of 56% YoY 60% YoY improving operating efficiencies inventory among brands Achieved the highest collections in any quarter and first 9 months period of any financial year since inception. 596 78 37% ~INR Cr ~INR Cr profit Total Revenue PAT EBIDTA Margin Up by 266% EBIDTA for Q3FY24 is 218 Cr Revenue grew by 45% YoY PAT Margin of 13% *inclusive of taxes Investor Presentation Q3 FY24 9 Operational Highlights – 9MFY23 vs 9MFY24 Sales Value (INR Cr) Customer Collections* (INR Cr) Total Revenue (INR Cr) 4,500 3,000 3,967 4,000 2,515 1,400 1,313 2,500 3,500 1,200 3,000 2,000 961 1,597 1,000 2,500 2,100 1,500 800 2,000 1,000 600 1,500 500 400 1,000 500 - 200 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 Volume (msft) Realization (INR per sft.) PAT (INR Cr) 6.00 9,000 60 7,916 5.01 8,000 7,528 49 5.00 50 7,000 40 35 4.00 6,000 30 3.00 2.79 5,000 20 4,000 2.00 10 3,000 1.00 2,000 - 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 * Customer collection from Real estate business Investor Presentation Q3 FY24 10 Operational Highlights – Q3FY23 vs Q3FY24 Sales Value (INR Cr) Customer Collections* (INR Cr) Total Revenue (INR Cr) 1,000 941 700 1,700 596 1,241 600 1,400 800 500 621 410 1,100 600 400 796 800 300 400 200 500 200 100 200 - 0 Q3Y23 Q3FY24 Q3Y23 Q3FY24 Q3Y23 Q3FY24 Volume (msft) Realization (INR per sft.) PAT (INR Cr) 2.40 9,000 100 2.00 1.63 8,000 7,767 7,610 78 80 1.60 7,000 60 6,000 1.20 1.02 5,000 40 0.80 4,000 21 20 0.40 3,000 0.00 2,000 - Q3Y23 Q3FY24 Q3Y23 Q3FY24 Q3Y23 Q3FY24 * Customer collection from Real estate business Investor Presentation Q3 FY24 11 Operational Overview Sales and Collections Investor Presentation Q3 FY24 12 Sales Q3FY24 Vs Q3FY23 Based on Bookings Quarter Ended Sale Realization Area Sold Units Sold Sale Value Dec-23 Dec-22 % Dec-23 Dec-22 % Dec-23 Dec-22 % Dec-23 Dec-22 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 0.65 0.50 30% 402 342 18% 663 455 46% 10,205 9,106 12% Provident 0.54 0.30 80% 497 319 56% 419 205 104% 7,759 6,848 13% Purva Land 0.44 0.22 100% 346 88 293% 158 135 17% 3,595 6,140 -41% Total Gross 1.63 1.02 60% 1245 749 66% 1241 796 56% 7,610 7,767 -2% • Group’s gross sales include economic interest attributable to Landowners under revenue share arrangement – which was 0.09 msft during Q3FY24 and 0.06 msft during Q3FY23 • “Puravankara” – • Despite no new launch, the sales value saw a notable 46% increase, attributed to consistent sales in ongoing projects. • “Provident” – • The sales value surged by an impressive 104% YOY due to consistent sales in ongoing and newly launched project ‘Provident Deansgate’. • “Purva Land” – • The sales increased by 17% , the momentum in sustainability projects and a promising pipeline of 2 new launches will boost future sales. • Realisation has slightly decreased due to mix of inventory between Puravankara ,Provident Housing and Purva Land brands. * Sales value include taxes but does not include Registration Charges Investor Presentation Q3 FY24 13 Sales 9MFY24 Vs 9MFY23 Based on Bookings 9M Ended Sale Realization Area Sold Units Sold Sale Value Dec-23 Dec-22 % Dec-23 Dec-22 % Dec-23 Dec-22 % Dec-23 Dec-22 % msft msft Nos. Nos. Rs.in crs Rs.in crs Rs.psft Rs.psft Puravankara 2.10 1.1 91% 1311 647 103% 2115 1020 107% 10,070 9,274 9% Provident 1.91 1.06 80% 1859 1121 66% 1374 739 86% 7,193 6,973 3% Purva Land 1.00 0.63 59% 781 310 152% 478 341 40% 4,782 5,413 -12% Total Gross 5.01 2.79 80% 3951 2078 90% 3967 2100 89% 7,916 7,528 5% • Group’s gross sales include economic interest attributable to Landowners under revenue share arrangement – which was 0.31 msft during 9MFY24 and 0.19 msft during 9MFY23 • Achieved highest ever sale value of Rs 3,967 Crore for first 9M period for any financial year since inception. • “Puravankara” – Puravankara contributed 53% of the total 9M FY24 sales. • “Provident” – Provident contributed 35% of the total 9M FY24 sales. • “Purva Land” – Purva Land contributed 12% of the total 9M FY24 sales. * Sales value include taxes but does not include Registration Charges Investor Presentation Q3 FY24 14 Sales area Classification – Unit Value & Regional contribution Q3FY24 9MFY24 Unit Value wise contribution to sales value Rs.0 -0.5 cr > Rs.2 cr Rs.0 -0.5 cr 6% 21% 8% • Unit Value wise –79% of the > Rs.2 cr Group’s sales are accounted 35% by units which costs less Rs.0.5 -1 cr than Rs 2 Cr in 9M FY24 29% Rs.1.5 -2 cr Rs.0.5 -1 cr 10% 40% • Unit Value wise –48% of the Group’s sales are accounted by units which costs less Rs.1.5 -2 cr Rs.1 -1.5 cr Rs.1 -1.5 cr than 1 Cr in 9M FY24 12% 21% 18% Regional contribution to sales value • ~37% of the sales were from outside Bengaluru Real Q3 FY24 9M FY24 estate market in 9M FY24. Others Others 12% 8% Kochi 10% Kochi 9% Bengaluru Chennai 52% Bengaluru 19% 63% Chennai 27% Investor Presentation Q3 FY24 15 Steady Sales Performance Sales Value (in INR Cr) 4500 3967 4000 3500 3000 2500 2100 2000 1576 1465 1500 Company sales have experienced 1000 consistent growth 500 over the past four 0 years at CAGR of 28% 9M FY21 9M FY22 9M FY23 9M FY24 Sales Volume (in msft) 6.00 5.01 5.00 4.00 2.78 3.00 2.44 2.32 2.00 1.00 - 9M FY21 9M FY22 9M FY23 9M FY24 Investor Presentation Q3 FY24 16 Collections trend 1,000 941 879 900 150 131 800 696 700 661 621 108 303 600 134 518 124 307 500 445 458 102 232 400 103 122 341 236 223 49 300 221 144 161 488 144 441 200 356 274 291 100 198 176 195 148 - Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY 23 Q1 FY 24 Q2 FY 24 Q3 FY 24 PL PHL Purva Land Total Collection (in INR Cr) • Quarterly customer collections improved by 52% Y-o-Y • PL contributed 52% ,PHL 32% and Purva Land 16% of the total collection in this quarter. Investor Presentation Q3 FY24 17 Land Bank Artist’s impression of Purva Atmosphere Investor Presentation Q3 FY24 18 Diversified across markets, brands and stages of development in million sq. ft. Completed Ongoing Land Assets Total (A) (B) (A)+(B) South India Bengaluru 32.53 16.90 26.75 43.64 Chennai 6.54 4.12 3.13 7.25 Hyderabad 2.78 0.05 0.00 0.05 Kochi 2.74 3.12 2.94 6.06 Others 1.70 0.23 0.45 0.68 West India 0.93 4.71 3.35 8.07 Colombo 0.00 0.00 4.23 4.23 Kolkata 0.70 0.00 0.00 0.00 Total 47.92 29.13 40.86 69.99 Puravankara* 33.16 16.20 34.75 50.95 Provident 14.76 12.93 6.11 19.05 Group’s economic interest 41.52 24.41 32.25 56.66 Ongoing Puravankara* 28.01 13.29 27.52 40.81 41.62% Provident 13.51 11.12 4.72 15.85 29.13msft Land Assets 58.38% Note: 40.86msft 1. * Includes JVs and other subsidiaries 2. Group’s economic interest is estimated developer’s share after reducing economic interest of JD|JV partners 3. In west India ongoing projects - The economic interest in Silversands is profit sharing but the Company is the development manager and hence disclosed at 100% Investor Presentation Q3 FY24 19 Ongoing and New Launches Non-Bengaluru projects now account for 42% of the share of Provident accounts for 44% of the launch pipeline; in line with the market ongoing and 77% of launch pipeline trends and the Group‘s strategy 8% Launch Pipeline 1% 23% 26% 10% 16% 30% Launch Pipeline 25% Ongoing 11% 44% 0% 58% 37% 14% 0% Ongoing 24% 9% 19% 0% 44% Bengaluru Chennai Hyderabad Kochi West India Others Puravankara-Residential Puravankara-Commercial Provident Purva Land Launch Launch in msft Ongoing Launch Pipeline Ongoing Launch Pipeline in msft Ongoing Pipeline Ongoing Pipeline Bengaluru 16.90 3.04 58% 23% Chennai 4.12 3.14 14% 24% Puravankara-Residential 12.72 3.95 44% 30% Hyderabad 0.05 0.00 0% 0% Puravankara-Commercial 2.76 0.00 9% 0% Kochi 3.12 2.54 11% 19% Provident 10.76 5.73 37% 44% West India 4.71 3.29 16% 25% Purva Land 2.89 3.40 10% 26% Others 0.23 1.07 1% 8% Total 29.13 13.08 Total 29.13 13.08 Note: 1. Based on Developable Area in msft 2. # Ongoing projects includes 10 million sqft of area not open for sale. Investor Presentation Q3 FY24 20 Launch Pipeline Sr. Location/ Project Name City Development Model Development Developable Inventory that PPL Share in Saleable area Expected launch date no Type Area will be opened JD (msft) at the time of launch Puravankara 1 Bellandur Bengaluru Owned Residential 0.47 0.47 100% 0.47 Q1FY25 2 Amaiti 2 Coimbatore Owned Residential 1.07 0.54 100% 1.07 Q1FY25 3 Puravankara-Winworth -2 Kochi Owned Residential 0.86 0.43 100% 0.86 Q3FY25 4 Clermont Tower B Mumbai Owned Residential 0.05 0.05 100% 0.05 Q4FY24 5 Mundhwa Pune Joint Venture Residential 1.49 0.75 32% 0.48 Q1FY25 Total 3.95 2.24 2.94 Provident 1 Bayscape (Southbay) Chennai Owned Residential 0.80 0.80 100% 0.80 Q4FY24 2 Kenvista Pune Joint Development Residential 1.33 0.53 69% 0.92 Q4FY24 3 Botanica Bengaluru Joint Development Residential 1.51 1.51 74% 1.11 Q4FY24 4 Provident-Winworth -2 Kochi Owned Residential 1.68 0.50 100% 1.68 Q1FY25 5 Palmvista (C2 & D1 & D2)) Mumbai Joint Development Residential 0.41 0.41 64% 0.26 Q4FY24 Total 5.73 3.75 4.78 Purva Land 1 S Medahalli Bengaluru Joint Development Plotted 1.06 0.53 90% 0.96 Q4FY24 2 Purva Soukhyam phase 2 Chennai Owned Plotted 2.34 2.34 100% 2.34 Q4FY24 Total 3.40 2.87 3.30 Total Launch Pipeline 13.08 8.86 11.01 Notes: 1. Developable and Saleable Areas are tentative and is subject to approval from authorities 2. Launch dates are subject to change 3. Launch dates are in relation to financial year April - March 4. All the projects are at different stages of approval 5. Some of the projects will be launched in phases 6. Estimated top line of over INR 6700Cr; and gross surplus of over 3780Cr (This does not include Amaiti 2, Clermont Tower B and Palmvista which is already included in projected cashflows of ongoing not open for sale ). Investor Presentation Q3 FY24 21 Launches during the year Developable Area Saleable Area Launched Area Sl.No Launch Quarter Project Name City (msft) (msft) (msft) 1 Q1 FY 23 Sound of water III Bengaluru 0.24 0.14 0.14 2 Q1 FY 23 Purva Ragaam Chennai 0.77 0.19 0.19 3 Q2 FY24 Provident Ecopolitan Bengaluru 1.13 0.91 0.91 4 Q2 FY24 Purva Windermere 4B Chennai 0.75 0.75 0.75 5 Q2 FY24 Purva Parkhill Wing B Bengaluru 0.21 0.21 0.21 6 Q3 FY24 Provident Deansgate Bengaluru 0.60 0.60 0.30 7 Q3 FY24 Purva Soukhyam1 Chennai 0.82 0.82 0.82 8 Q3 FY24 Purva Parkhill Wing A Bengaluru 0.23 0.23 0.23 Subtotal -Launched 9M FY24 4.75 3.85 3.55 9 Q4 FY24 Purva Soukhyam 2 Chennai 2.34 2.34 0.80 10 Q4 FY24 Botanico Bengaluru 1.51 1.11 1.51 11 Q4 FY24 Kenvista Pune 1.33 0.92 0.53 12 Q4 FY24 S Medahalli Bengaluru 1.06 0.95 0.53 13 Q4 FY24 Clermont Tower B Mumbai 0.05 0.05 0.05 14 Q4 FY24 Palmvista(C2 & D1 & D2)) Mumbai 0.41 0.26 0.41 15 Q4 FY24 Bayscape(Southbay) Chennai 0.80 0.80 0.80 Subtotal -expected to be launched 7.51 6.44 4.64 Total-FY 24 12.25 10.29 8.19 Investor Presentation Q3 FY24 22 Update on Financials Investor Presentation Q3 FY24 23 Consolidated Statement of Profit & Loss for the quarter ended December 31, 2023 All numbers in INR Cr Particulars Q3FY24 Q2FY24 Q3FY23 Income from operations Revenue from projects 573.69 368.33 392.45 Other Income 22.18 13.24 17.95 • Our Total Income from Total Income from operations 595.88 381.57 410.40 Operations for Q3 Expenses FY24 increased by Sub-contractor cost 229.13 273.83 224.36 45% y-o-y Cost of raw materials and components consumed 48.37 60.87 72.52 Land purchase cost 9.94 170.73 135.52 • Our Revenue from (increase)/decrease in inventories of stock of flats, land cost and work-in-progress -93.91 -393.47 -288.93 Projects increased by 45% to 574 Cr in Employee benefit expense 59.11 55.72 43.33 Q3FY24 when Finance expense 105.05 104.55 93.81 compared to 392 Cr in Depreciation and amortization expense 6.73 6.47 5.19 Q3FY23 Other expenses 122.15 113.81 94.70 Total expenses 486.57 392.51 380.50 • Total Comprehensive Profit from operations before tax expense share of profit/(loss) of associates and joint ventures (1-2) 109.31 -10.94 29.90 Income for Q3FY24 is Share of profit/(loss) of associates and joint ventures, net -3.01 -1.96 -1.11 Rs 78 when compared to profit of 21 Cr in Exceptional Item 0.00 0.00 0.00 Q3FY23 Profit before tax 106.30 -12.90 28.79 Tax expense 28.49 -1.68 6.24 Net Profit for the period 77.80 -11.22 22.55 Other Comprehensive Income/(Loss) (net of tax expense) 0.08 -0.25 -1.26 Total Comprehensive Income/(Loss) for the period 77.89 -11.46 21.29 Investor Presentation Q3 FY24 24 Consolidated Statement of Profit & Loss for the 9 Months ended December 31, 2023 All numbers in INR Cr Particulars 9M FY24 9M FY23 Income from operations • Our Total Income from Revenue from projects 1,265.28 846.78 Operations for 9M Other Income 47.98 113.82 FY24 increased by Total Income from operations 1,313.26 960.60 37% y-o-y Expenses Sub-contractor cost 713.05 590.02 • Our Revenue from Cost of raw materials and components consumed 155.46 173.38 Projects increased by Land purchase cost 200.15 185.67 49% to 1,265 Cr in (increase)/decrease in inventories of stock of flats, land cost and work-in-progress -645.15 -688.24 9MFY24 when compared to Rs 847 Employee benefit expense 162.75 128.39 Cr in 9MFY23 Finance expense 307.67 257.53 Depreciation and amortization expense 18.37 13.32 • Total Comprehensive Other expenses 329.62 244.01 Income for 9MFY24 is Total expenses 1,241.92 904.08 Rs 49 Cr when Profit from operations before tax expense share of profit/(loss) of associates and joint ventures (1-2) 71.33 56.52 compared to profit of Share of profit/(loss) of associates and joint ventures, net -5.74 -2.30 35 Cr in 9MFY23 Exceptional Item 0.00 0.00 Profit before tax 65.59 54.22 Tax expense 16.86 14.45 Net Profit for the period 48.73 39.77 Other Comprehensive Income/(Loss) (net of tax expense) 0.55 -4.76 Total Comprehensive Income/(Loss) for the period 49.27 35.01 Investor Presentation Q3 FY24 25 Update on Cash flows Investor Presentation Q3 FY24 26 Direct Cashflows All numbers in INR Cr Cash Flow Statement Q1 FY 24 Q2 FY 24 Q3 FY 24 9M FY 24 9M FY 23 9M YOY A Operating Inflows 866 891 1,070 2,826 2,086 35% Collection from operations 866 891 1,070 2,826 1,959 44% Collection from other than operations 0 0 0 0 127 B Operating Outflows (618) (592) (652) (1,861) (1,606) 16% C=A-B Operating Surplus 248 299 418 965 480 101% Less Interest Cost( Net ) (75) (87) (78) (240) (271) Tax Paid (27) (35) (42) (105) (63) D Operating Surplus after tax and interest 145 177 297 619 146 324% Investment Activity Land Payments including advances & deposits (56) (12) (24) (92) (201) Purchase of Fixed Assets 0 (18) (0) (19) (2) Other Assets & Investments 0 (79) (27) (106) (1) E Total from Investing Activity (56) (109) (51) (217) (204) 6% Financing Activity Loan Drawal/(Repayments) (45) 35 (53) (63) 342 Investment equity in nature 0 66 8 74 (64) Loan to Associates/Subsidiaries/Others-Inflow/(outflow) 0 (8) (2) (10) (6) Dividend (Net of TDS) 0 0 0 0 (119) F Total from Financing Activity (45) 94 (48) 1 153 -99% G=D+E+F Net Operating Surplus 44 161 198 403 95 324% Opening Cash and Bank Balances 418 462 624 418 345 21% Closing Cash and Bank Balances 462 624 822 822 440 87% Note: Numbers have been regrouped & reclassified and does not strictly confirm to the presentation under audited INDAS 7 Cash Flow format Investor Presentation Q3 FY24 27 Cash Flow - Trends Collection from operations Operating inflows 3,000 2,826 3,000 2,826 2,700 2,500 2,400 2,086 2,100 1,959 2,000 • Operating inflows 1,800 1,500 increased by 30% YoY 1,500 & 20% QoQ indicating 1,200 1,000 improvement in 900 • Total Operating 500 customer collections 600 Inflows surged by 35% 300 - • Simultaneously, 9M FY 23 9M FY 24 9M FY 23 9M FY 24 • Operating surplus for operating outflows 9M FY24 has doubled also increased by when compared to ~28% YOY enabling previous year same Operating Surplus Operating outflows asset creation, project period, highlighting development and new 1,200 1,861 strong operational 1,900 launches. 965 1,606 efficiency and 1,000 1,700 financial management • Operating outflows 1,500 800 decreased by 8% 1,300 1,100 600 480 900 400 700 500 200 300 9M FY 23 9M FY 24 9M FY 23 9M FY 24 All numbers in INR Cr Note: Numbers have been regrouped & reclassified and does not strictly confirm to the presentation under audited INDAS 7 Cash Flow format Investor Presentation Q3 FY24 28 Cash Flow Potential Puravankara Provident Purva Land Total Balance collections from sold units 1 (A) 1,983 1,414 461 3,857 • Cashflow Visibility of • Cashflow Visibility of Rs.6,747 Crores in Value of Inventory open for sale 2 (B) 3,952 1,227 438 5,617 Rs.6730 Crores in next next 3-4 years 3-4 years Balance cost to go 3 (C) 3,159 1,520 259 4,938 • Balance receivables of • Balance receivables of ~Rs. crore from sold Surplus (A) + (B) –(C) (D) 2,776 1,121 640 4,536 ~Rs.3052 crore from units, covers ~ 78% of sold units, covers ~ the balance cost to Surplus from Inventory not open for sale (F)-(G+H) (E) 1,132 1,079 0 2,211 71% of the balance complete the Value of Inventory not open for sale (F) 2,611 2,654 0 5,265 cost to complete the Inventory open for Balance cost to complete (G) 1,379 1,475 0 2,855 Inventory open for sale Contingencies 5 (H) 100 100 0 200 sale • Cashflows from 2 new Total Estimated Surplus (D +E ) 3,908 2,199 640 6,747 commercial projects launched last financial year is shown Commercial separately with projects surplus of Rs.1,308 Capital Value (A) 2,524 crores Balance cost to go (B) 1,216 Surplus (A) + (B) (D) 1,308 The projects that are yet to be launched are not included. However, the surplus from pipeline projects will be 2780 crores and hence total surplus will be 10,835 crores. Note: 1. Includes debtors and unbilled amount 2. Value of inventory has been arrived based on current selling rates 3. Balance cost to go is based on estimates and subject to review on periodic basis 4. The cost does not include sales & marketing & GST. 29 5. Contingencies provided for escalation in prices of cement, steel and other cost related to construction of properties Investor Presentation Q3 FY24 Update on Debt Investor Presentation Q3 FY24 30 Debt movement pattern All numbers in INR Cr in Rs. Cr Q3FY24 Q2FY24 Q1FY24 Q4FY23 Q3FY23 Q2FY23 Q1FY23 Opening Balance 2616 2581 2626 2575 2525 2192 2190 Net Addition (Repayment) -53 35 -45 51 50 333 2 Debt Outstanding 2563 2616 2581 2626 2575 2525 2192 Less: Cash and Cash Equivalents 822 624 462 418 440 381 303 Net debt 1741 1992 2119 2208 2135 2144 1889 Cost of Debt 11.49% 11.61% 11.51% 11.31% 11.18% 11.02% 10.69% Net Worth 2043 1965 1976 1993 1965 1944 2083 Net Debt / Equity Ratio 0.85 1.01 1.07 1.11 1.09 1.10 0.91 Net debt has reduced by 251 crores from last quarter. Weighted Average Cost of Debt & Net Debt / Equity Ratio 12.50% 1.10 1.11 1.01 0.85 1.20 1.09 1.07 1.10 11.50% 0.89 0.90 0.91 1.00 10.50% 0.90 8 9 . . 5 5 0 0 % % % 1 5 .0 1 % 6 5 .0 1 % 9 6 .0 1 % 2 0 .1 1 % 8 1 .1 1 % 1 3 .1 1 % 1 5 .1 1 % 1 6 .1 1 % 9 4 .1 1 0 0 . .8 7 0 0 0.60 7.50% 0.50 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Debt does not include NCD/OCD worth INR 484 Cr, repayment of which is dependent on project specific surplus; and not as periodic or fixed obligation Investor Presentation Q3 FY24 31 Debt Composition Debt Composition • The significant reduction in gross debt by 53 crores and net debt by 251 crores indicates a positive financial Q2FY24 Q3FY24 Movement development for the company. Residential 2,124 2,135 11 Land 321 259 -62 • The high liquidity observed suggests that the company is Capex towards Commercial development 171 169 -2 well-positioned to cover its short-term liabilities and Total Gross Debt 2,616 2,563 -53 operational expenses. Less Cash and equivalent 624 822 198 Net Debt* 1,992 1,741 -251 *Debt does not include NCD/OCD worth INR 484 Cr, repayment of which is dependent on project specific surplus; and not as periodic or fixed obligation Investor Presentation Q3 FY24 32 Borrowing Cost Management Debt/ sft of under construction area Q3FY24 Q2FY24 Q1FY24 Q4FY23 Q3FY23 Q2FY23 Q1FY23 Q4 FY22 Q4FY21 Q4FY20 Q4FY19 • Consistently reduced Net Debt 1741 1992 2119 2208 2135 2144 1889 1846 2299 2536 2743 debt per square foot Ongoing Projects (msft) 22 22 21 20 17 16 15 15 13 13 13 of under construction Debt/ sqft (Rs/ sqft) 791 886 1008 1106 1291 1376 1277 1248 1785 1872 2077 area ensuring that we optimize financial resources effectively Debt per sft of under construction area has reduced by ~62% in last 5 years in our projects. Cost of debt movement compared with Repo rate • Our cost of debt has 14.00% decreased indicating 12.00% 10.51% 10.56% 10.69% 11.02% 11.18% 11.31% 11.51% 11.61% 11.49% improvement in the overall financial 10.00% health of our organization. 8.00% 6.25% 6.50% 6.50% 6.50% 6.50% 5.90% 6.00% 4.90% 4.00% 4.00% 4.00% 2.00% 0.00% Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Puravankara's cost of debt Repo Rate *ongoing open for sale and includes commercial projects. Investor Presentation Q3 FY24 33 Debt Management & Repayment Schedule Amount Particulars Repayment Schedule INR Cr (in Rs crore) Group A -Ongoing (including not launched for sale) projects 14,739 Balance customer collection A 7,992 Balance cost to go B More • Group’s net debt is Rs than 3 6,747 Surplus from ongoing (including not launched for sale) projects C= A-B years 1,741 Crore which Next 1 year 377.05 compares favorably repayment 723.40 against the Group’s Group B -Projects which are in launch pipeline projected surplus of 6,700 Unsold Inventory value D Rs ~ 10,835 Cr 3,920 Cost to complete E • Of this, ~ Rs 6,747 Cr Surplus from projects which are in launch pipeline F=D-E 2,780 3rd year is surplus from repayment 731.48 approved projects 1,308 Group C -Surplus from Commercial projects G 2nd year repayment 731.56 10,835 Total Surplus H=C+F+G 2563 Gross debt I 822 cash and cash equivalent J Net Debt 1,741 K = I-J 1. Debt does not include NCD/OCD worth INR 484 Cr, repayment of which is dependent on project specific surplus; and not as periodic or fixed obligation Investor Presentation Q3 FY24 34 Project Status Provident Sunworth Investor Presentation Q3 FY24 35 Project Status – Completed Projects as on December 31, 2023 Area Sold Puravankara's JD / JV Share S.No. Project Location Developable Area Total Flats Share - Inventory for Developer Launched Cumulative Developable Area Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % COMPLETED Puravankara 1 Marina One -Phase 1 Kochi 0.85 586 50% 0.43 293 0.43 289 0.42 99% 4 0.01 1% 2 Silversand -I Keshavnagar, Pune 0.79 821 100% 0.79 821 0.79 716 0.69 88% 105 0.10 12% Provident 1 Kenworth I Rajendra Nagar, Hyderabad 1.90 1990 73% 1.39 1453 1.39 1416 1.36 98% 37 0.03 2% 2 Kenworth II Rajendra Nagar, Hyderabad 0.40 320 73% 0.29 234 0.29 218 0.27 93% 16 0.02 6% 3 Park Square Judicial Layout, Bengaluru 1.32 1429 87% 1.32 1429 1.32 1343 1.25 95% 86 0.07 5% 4 Skyworth I Derebail, Mangalore 0.18 144 73% 0.13 105 0.13 63 0.08 58% 42 0.06 42% Purva Land 1 Hibiscus Trichy Rd, Singanallur 0.13 73 100% 0.13 73 0.13 60 0.09 72% 13 0.04 28% 2 Woodfield Electronic City, Bengaluru 0.48 356 100% 0.48 356 0.48 341 0.46 95% 15 0.02 5% Total Completed -(A) 6.05 5719 100% 4.96 4765 4.96 4446 4.63 93% 319 0.33 7% * Does not include the projects which has less than 10 units of inventory which is not material. Investor Presentation Q3 FY24 36 Project Status – Under Construction as on December 31, 2023 Area Sold JD / JV Share for Puravankara's Share - S.No. Project Location Developable Area Total Flats Launched Cumulative Inventory Developer Developable Area Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % UNDER CONSTRUCTION Puravankara 1 Aspire Bavdhan, Pune 0.33 236 90% 0.29 212 0.29 63 0.10 33% 149.00 0.20 67% 2 Atmosphere Thanisandra, Bengaluru 1.59 1042 86% 1.37 914 1.37 765 1.14 83% 149.00 0.23 17% 3 Blubelle Magadi Road, Bengaluru 0.57 379 72% 0.37 245 0.37 131 0.19 53% 114.00 0.17 47% 4 Clermont Chembur, Mumbai 0.21 226 100% 0.21 226 0.21 105 0.11 51% 121.00 0.10 49% 5 Emerald Bay Keshavnagar, Pune 0.35 280 100% 0.35 280 0.35 105 0.15 42% 175.00 0.20 58% 6 Marina One Kochi 1.43 972 50% 0.71 486 0.71 283 0.47 66% 203.00 0.24 34% 7 Meraki HSR Layout, Bengaluru 0.12 44 100% 0.12 44 0.12 20 0.06 47% 24.00 0.06 53% Lal Bagh Main Rd, Sudhama 8 Orient Grand 0.26 97 55% 0.14 53 0.14 2 0.01 4% 51.00 0.14 96% Nagar, Bengaluru 9 Park Hill Mallasandra, Bengaluru 0.87 492 100% 0.87 492 0.87 233 0.41 47% 259.00 0.46 53% 10 Promenade Hennur Road, Bengaluru 0.20 152 70% 0.14 107 0.14 106 0.14 99% 1.00 0.00 1% 11 Somerset House Guindy Chennai 0.36 181 100% 0.36 181 0.36 67 0.14 39% 114.00 0.22 61% 12 Sound of Water II Kammanahalli, Bengaluru 0.19 53 58% 0.12 33 0.12 25 0.09 73% 8.00 0.03 27% 13 Sound of Water III Kammanahalli, Bengaluru 0.24 61 57% 0.14 34 0.14 6 0.03 18% 28.00 0.11 82% 14 Windermere -IV Medavakkam, Chennai 157% 1432 100% 1.57 1432 1.57 358 0.42 26% 1,074.00 1.16 74% 15 Zenium -I Airport Road Bengaluru 0.65 436 51% 0.33 221 0.33 192 0.29 88% 29.00 0.04 12% 16 Zenium -II Airport Road Bengaluru 0.48 436 100% 0.48 436 0.48 279 0.31 65% 157.00 0.17 35% Provident 17 Adora De Goa Zuari Nagar, Goa 1.63 2,345 84% 1.37 1630 1.37 1325 1.03 75% 304 0.34 25% 18 Capella Soukya Rd, Bengaluru 0.65 763 74% 0.48 564 0.48 479 0.44 93% 85 0.04 7% 19 Deansgate IVC Rd, Bengaluru, 0.30 147 100% 0.30 147 0.30 46 0.09 30% 101 0.21 70% 20 Ecopolitan Gummanahalli, Bengaluru 1.06 956 86% 0.91 828 0.91 756 0.83 90% 72 0.09 10% 21 Equinox Mysore Road, Bengaluru 0.28 288 100% 0.28 288 0.28 119 0.12 42% 169 0.16 58% 22 Neora Sampigehalli, Bengaluru 0.23 249 100% 0.23 249 0.23 223 0.20 90% 26 0.02 10% 23 PalmVista Daighar Gaon, Thane 0.83 1100 64% 0.41 509 0.41 291 0.23 57% 218 0.17 43% 24 Park Square Judicial Layout, Bengaluru 0.58 653 100% 0.58 653 0.58 343 0.34 58% 310 0.24 42% 25 Winworth Edappally, Ernakulam 0.54 515 100% 0.54 515 0.54 429 0.45 83% 86 0.09 17% Purva Land 26 Oakshire Rampura, Bengaluru 0.72 449 38% 0.27 218 0.27 170 0.26 96% 48 0.01 4% 27 Raagam THIRUMAZHISA, CHENNAI 0.77 664 25% 0.19 166 0.19 82 0.09 46% 84 0.10 54% 28 Soukhyam Guduvancheri, Chennai 0.82 556 100% 0.82 556 0.82 250 0.30 37% 306 0.52 63% 29 Tivoli Hills Devanahalli, Bengaluru 1.40 838 100% 1.40 838 1.40 830 1.30 93% 8 0.10 7% Total Under Construction (C ) 19.25 16042 15.39 12557 15.39 8083 9.73 63% 4473 5.65 37% Investor Presentation Q3 FY24 37 Project Status – Not yet open for Sale as on December 31, 2023 Puravankara's Developable JD / JV Share for S.No. Project Location Total Flats Share - Sold Cumulative Unsold Inventory Area Developer Developable Area Area Launched Msft Units % Msft Units Msft Nos Msft % Nos Mn sft % PHASES NOT OPEN FOR SALE Puravankara 1 Amaiti II Trichy Road, Coimbatore 0.47 288 100% 0.47 288 - - - 0% 288 - 0% 2 Clermont Chembur, Mumbai 0.14 86 100% 0.14 86 - - - 0% 86 - 0% 3 Marina One Phase 5 Kochi 0.92 170 50% 0.46 85 - - - 0% 85 - 0% 4 MoonreachII Airport-Seaport Rd, Kochi 0.23 119 100% 0.23 119 - - - 0% 119 - 0% 5 Emerald Bay Keshavnagar, Pune 0.59 624 100% 0.59 624 - - - 0% 624 - 0% 6 Windermere 4C Medavakkam, Chennai 0.59 478 100% 0.59 478 - - - 0% 478 - 0% Commercia l 7 ZentechBusiness Park Kanakapura, Bengaluru 0.76 - 78% 0.60 - - - - 0% - - 0% 8 Aerocity-Commercial Kadiganahalli, Bengaluru 2.00 - 100% 2.00 - - - - 0% - - 0% Provident 9 Deansgate Phase 2 IVC Rd, Bengaluru, 0.29 141 100% 0.29 141 - - - 0% 141 - 0% 10 EcopolitanPhase 2 Gummanahalli, Bengaluru 0.35 314 100% 0.35 314 0% 314 - 0% 10 Palmvista Daighar Gaon, Thane 0.44 415 64% 0.28 281 - - - 0% 281 - 0% 11 Skyworth II Derebail, Mangalore 0.23 180 73% 0.17 131 - - - 0% 131 - 0% 12 SunworthIII,IV Mysore Road, Bengaluru 2.62 2496 100% 2.62 2496 - - - 0% 2,496 - 0% Commercia l 13 Adora De Goa Zuari Nagar, Goa 0.20 100% 0.20 0% - 0% 14 Kenworth Commercial Rajendra Nagar, Hyderabad 0.05 - 73% 0.04 - 0.04 - - 0% - 0% Total -Phases to be 9.88 5311 9.02 5043 - 0% 5,043 0% launched (D) Total Ongoing -(B) + (C) + (D) 29.13 21,353 24.41 17,600 15.39 8,083 9.73 63% 8852 5.65 37% Investor Presentation Q3 FY24 38 Ongoing (open for sale) Residential Projects- City wise City Total Projects Area Puravankara’s share Sold Area Inventory Mnsft Coimbatore - - - - - Mumbai 2 1.04 0.61 0.34 0.28 Bengaluru 18 10.40 8.55 6.25 2.30 Chennai 4 3.53 2.95 0.95 2.00 Hyderabad - - - - - Kochi 2 1.97 1.25 0.92 0.33 Pune 2 0.67 0.64 0.24 0.40 Mangalore - - - - - Goa 1 1.63 1.37 1.03 0.34 Total 29 19.25 15.39 9.73 5.65 Investor Presentation Q3 FY24 39 Appendix 1: Other Corporate Information Investor Presentation Q3 FY24 40 Governance Structure to drive long term growth Executive Team Ravi Puravankara Ashish Puravankara Nani R. Choksey Abhishek Kapoor Chairman Managing Director Vice Chairman Executive Director & CEO • Over 48 years of experience in the • Former President of CREDAI- • Experience of over 48 years in the • Experience of over 23 years in real real estate industry Bengaluru Chapter real estate development, estate development, construction, construction and finance sector project optimisation, private equity • Former president of the • Awarded Grohe Hurun India deals, strategic planning and International Real Estate Residential Real Estate Developer • Associated with the company implementation Federation, Indian Chapter, Paris Award 2023 since inception and responsible for finance and construction function • Master’s degree from • Awarded the Lifetime Achievement • Master’s degree in Business NMIMS, Mumbai Award 2023 by CREDAI Karnataka Administration from Willamette University in Salem, Oregon Investor Presentation Q3 FY24 41 Governance Structure to drive long term growth Contd. Non-Executive Directors Anup Shah Sanmukh Shailaja Jha K G Krishnamurthy Non- Executive Independent Non- Executive Independent Non- Executive Independent Director Director Director • Bachelor’s degree in Commerce • MMS Degree from BITS, Pilani • Alumnus of IIT - Kharagpur with a and Law Over 39 years of and PMI certified Project Management degree from Jamnalal experience in field of law, Management Professional Bajaj Institute of Management, specifically real estate law. • Over 30 years of experience in • Experience of over three decades in • Founder Partner of Anup S Shah IT global consulting experience the real-estate sector Law Firm in Bengaluru • After clearing the UPSC, • Served as the Managing Director & served GOI as a civil servant CEO of HDFC Property Ventures for almost a decade Limited Investor Presentation Q3 FY24 42 Key Strengths/Building a strong strategy/Growth Drivers Business Development-Strong pipeline Land Bank Potential Rich Talent Credit Rating of business development Continued unlocking of development Strong & Experienced Leadership Stable potential ongoing commitment to business . Senior executives inducted to ICRA has reaffirmed our Credit development and land acquisition Launched- 4.75 msft for 9M FY24 drive different geographies rating as A- stable remains integral to our success. Strong launch pipeline to aid Sector View-Residential market on Consistent Increase in Revenue Focus of execution & timely growth a growth trajectory project completion Revenue from projects grew by ~13 msft are in launch pipeline Achieved the highest ever sales for 46% YoY in Q3 FY24 Achieved the highest ever first 9M period in any financial collection from customers which year since inception. indicates timely completion of projects. Investor Presentation Q3 FY24 43 Shareholding Pattern as of December 31, 2023 Others, Insurance 8.12% Companies, 0.39% FPIs FII & FPI, 16.49% Gothic Corporation Atyant Capital Insurance and Bodies Corporate Life Insurance Corporation General Insurance Corporation Promoter, 75.00% Notes 1. Promoter Shares are unencumbered Investor Presentation Q3 FY24 44 Share Price Movement 240 220 200 180 160 140 120 100 80 60 40 PURVA SENSEX BSE REALTY Notes: Graph rebased to 100 Investor Presentation Q3 FY24 45 Awards and Accolades CREDAI CARE 2023 Construction Week Awards 2023 ET EDGE AWARDS NATIONAL SAFETY COUNCIL -2023 Lifetime achievement award for Lifetime achievement award for Iconic Brands of India 2023 State Level Safety Award for SICL Chairman Ravi Puravankara Chairman Ravi Puravankara ET BUSINESS EXCELLENCE AWARDS 2023 ET INFRA FOCUS AWARDS IBE REAL ESTATE AWARDS 2023 (India) CONSTRUCTION EXCELLENCE AWARDS 2023 for Woman Achiever of the Year in Real Most Admired Company in Urban Infrastructure Developer of the year 2023 Starworth Infrastructure and Construction Limited Estate for Amanda Joy Puravankara Investor Presentation Q1 FY24 46 Appendix 1: Our Completed Projects PURVA SEASONS THE TREE PURVA SKYDALE Bengaluru Bengaluru Bengaluru Investor Presentation Q3 FY24 47 Appendix 1: Our Completed Projects PURVA SUNFLOWER PURVA PALM BEACH PURVA ETERNITY Bengaluru Bengaluru Kochi Investor Presentation Q3 FY24 48 Appendix 2: Ongoing Projects PURVA PARKHILL PROVIDENT WINWORTH Bangalore Kochi Investor Presentation Q3 FY24 49 Appendix 2 : Ongoing Projects PROVIDENT PARKSQUARE PURVA SOMERSET HOUSE Bengaluru Chennai Investor Presentation Q3 FY24 50 Appendix 3 : Completed commercial projects PURVA PRIMUS PURVA SUMMIT Chennai Hyderabad Investor Presentation Q3 FY24 51 Appendix 3 : Ongoing commercial projects Purva Aerocity PURVA AEROCITY ZENTECH Bengaluru Bengaluru Investor Presentation Q3 FY24 52 Disclaimer This presentation has been prepared by Puravankara Limited (“Company”) solely for providing information about the Company. It contains certain forward looking statements concerning Puravankara Ltd.'s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, economic growth in India, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, government policies and actions with respect to investments, fiscal deficits, regulation etc., interest and other fiscal cost generally prevailing in the economy. The company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time on behalf of the company. Investor Presentation Q3 FY24 53 Investor Presentation Q3 FY23 THANK YOU Puravankara Limited 130/1, Ulsoor Road, Bengaluru - 560042 Tel: 080-25599000/43439999 Corporate Identification Number : L45200KA1986PLC051571 Website:- https://www.puravankara.com/ Investor Relations Contact: Mr. Neeraj Gautam, President- Finance Email – neeraj.gautam@puravankara.com; Tel: +91-80-4343 9999 Asha D, Manager - Corporate Finance & Investors Relation Email – asha.d@puravankara.com; Tel: +91-80-4343 9999 Investor Presentation Q3 FY24 54