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Investor Presentation

Quarter Ended June 30, 2013

Nitesh Estates Ltd.

Reports all time record topline performance:

o Revenue of Rs. 1,000 mn

o Over 10x Q4 FY2013 Revenue

o Over 3x Q1 FY2013 Revenue

Strong return to profitability and robust margins:

o Gross Profit of Rs. 279 mn with a margin of 27.9%

o EBITDA of Rs. 151 mn with a margin of 15.1%

Delivering value to shareholders:

o Profit after Tax of Rs. 57 mn with a margin of

5.7%

o EPS of Rs. 0.31

Cash generation underpins capital structure:

o Net Debt of Rs. 2,400 mn

o Net Debt to Equity ratio of 0.74x

Consolidated Financial Highlights

1

Q1 FY2014 Summary Quarterly Performance

Investor Presentation: Q1 FY2014

Commenting on the results and performance, Mr.

Ashwini Kumar, Executive Director and Chief

Operating Officer of Nitesh Estates said:

“We are delighted to report a solid performance

during the last quarter, underscoring the

Company’s high growth trajectory and value-add

to shareholders. As we build up the momentum of

project completion, we expect further enhanced

revenues and profitability going forward.

Our sales, both in terms of value and area,

remained robust and are a true reflection of Nitesh

Estates’ strong brand loyalty and customer trust.

We have a strong pipeline of 12 ongoing

residential projects with a future sales potential of

Rs. 22.0 bn and unrecognized income of Rs. 5.3 bn

as at June 2013.

The Ritz Carlton Hotel, opening for customers in

September, symbolizes the luxury brand value that

the Company enjoys.”

Consolidated Operational Highlights

2



Sales Value of Rs. 1,280 mn

o A growth of close to 200% y-o-y and 22% q-o-q

o Cumulative Sales Value of Rs. 8,822 mn achieved through the sale of 2.07 mn sq. ft. area

Area Sold of 0.35 mn sq. ft.

o A growth of over 350% y-o-y and 110% q-o-q

o 10.66 mn sq. ft. of area currently under development

Average Price Realization1 of Rs. 6,096 per sq. ft.

o Compared with Rs. 5,553 per sq. ft. in Q1 FY2013

Cash Collection of Rs. 849 mn

o A growth of 39% y-o-y and 25% q-o-q

Signed a new mid-income residential project, Nitesh British Columbia

o Total revenue potential of the project is estimated to be Rs. 3,000 million

Note:

1. Average Price Realization excludes Nitesh Long Island, a plotted development project

Deep value embedded in development portfolio and recurring income streams

3


Total sales potential of Rs. 30,281 mn from 12 ongoing residential projects

o Sales Booked to date of Rs. 8,267 mn

o Further sales potential of Rs. 22,014 mn by FY2017

o Two projects are expected to be completed in FY2014

Unrecognized income of Rs. 5,266 mn as at June 30, 2013

o Seven residential projects have crossed the threshold limit for income recognition

o Two projects to cross the threshold limit in FY2014: Nitesh Long Island and Nitesh Napa Valley

o Three residential projects are under pre-construction/construction stages

o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013

Cumulative collection of Rs. 5,163 mn; Upside in cash collection of Rs. 3,104 mn, represents 38% of sales

booked till date

FY2014 recurring income streams

o The Ritz Carlton Hotel, Bangalore is expected to be operational by September 2013

Near term recurring income streams

o Nitesh Mall is expected to be operational in FY2016

o Expected rental income of Rs. 500 – 600 mn per annum


Increasing income recognition will significantly enhance profitability

4

Q1 FY2014 Financials Quarterly Performance

Notes:

1. Revenue includes Net Sales plus Other Income

2. Impacted by Rs. 150 million charge on account of sales reversals and premium on redemption of debentures amounting to Rs. 38 million in Q4 FY2013


Q1 Q4

(Rs. mn) FY2014 FY2013 FY2013

Total Debt 2,675.4 1,658.6 2,709.2

Cash and Cash Equivalents 275.8 526.2 278.6

Net Debt 2,399.6 1,132.4 2,430.6

Equity 3,254.9 4,589.1 3,209.1

Net Debt / Equity 0.74x 0.25x 0.76x

Debentures 1,159.6 970.0 1,170.9

Book Value / Share (Rs.) 22.32 31.47 22.01

Q4

(Rs. mn) FY2014 FY2013 FY2013

Revenue1 1,000.2 325.8 95.4

Gross Profit 279.0 92.8 (95.7)

Margin (%) 27.9% 28.5% nm

EBITDA 150.6 (42.9) (245.8)

Margin (%) 15.1% nm nm

Profit After Tax (PAT)2 56.5 (40.1) (494.6)


Net Profit2 45.5 (40.7) (513.3)


Basic EPS (Rs.)2 0.31 (0.28) (3.52)

Q1

434

618 623

1,048

1,280

Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014

Sales Value and Area Sold increased 22% and 110% q-o-q, respectively

5

Q1 FY2014 Financials Quarterly Performance

Sales Value (Rs. mn) Collections (Rs. mn)

Area Sold (mn sq. ft.) Average Price Realization1 (Rs. per sq. ft.)


610

762

606681

849

Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014

Note:


0.080.11

0.08

0.17

0.35

Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014

5,553 5,797

7,965

6,225 6,096

Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014

Str

uct

ure

Com

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The Ritz Carlton Hotel

Pre

-con

stru

ctio

n

Nitesh Mall Nitesh Park Avenue

Nitesh Napa Valley

Nitesh Hunter Valley

Con

stru

ctio

n i

n P

rogre

ss

Nitesh Logos

Nitesh Fisher Island Nitesh Caesar's Palace

Nitesh Flushing Meadows

Nitesh Hyde Park Nitesh Columbus Square

Nitesh Cape Cod

Total of 14 projects under various stages of construction

6

Note: Projects are sorted on the basis of completion date within each of the above 3 categories

Q1 FY2014 Operational Update Quarterly Performance

Nitesh Palo Alto

Nitesh Long Island


Nitesh Palo Alto

7

Recent Launches Strategy

Villament project situated on the IT Corridor of

Marathahalli – Sarjapur Ring Road

Has 251 units comprising of 3BHK and 4BHK homes

with a multitude of amenities

Has a developable area of 1.21 msft and is spread over a

land area of 11.12 acres

Is in close proximity to shopping centers, schools and

health care facilities

Situated on Bellary Road Bangalore, provides a

Californian lifestyle experience to home owners

Spread over 20 acres, has 133 units with a developable

area of 0.59 msft and unit areas ranging from 2,712 sqft

to 5,342 sqft

Designed by P Landscapes (PLA), Thailand; Warner

Wong (WOW), Singapore and Wimberly Allison Tong

and Goo (WATG), California

Inspired by the architecture of Santa Barbara and

California


Revenue potential over Rs. 5,300 mn

Nitesh Napa Valley Revenue potential ~Rs. 4,100 mn

Nitesh Park Avenue

8

Recent Launches Strategy

A premium luxury residential project with a total of 24 units

and is located in a prestigious location

Developable area of 0.14 msft and is spread over a land area

of 0.62 acres

In the vicinity of luxury hotels such as the ITC Windsor

Manor Hotel, the Taj West End and the Le Meridian

Close to various restaurants & bars, shopping centres,

cultural places and schools & colleges

Designed by Kohn Pedersen Fox (KPF), New York; P

Landscape, Thailand and Wilson Associates, New York


Revenue potential ~Rs. 2,000 mn

Nitesh Long Island Revenue potential over Rs. 1,730 mn

Plotted development project on Devanahalli main road

An integrated gated community, spread over 43 acres with a

developable area of 0.89 msft and 321 units

Provides easy commute to the city centre, airport and major

existing and upcoming economic hubs

Internationally designed landscape features, promenades and

manicured gardens with wide roads and pathways

9


Remaining Sales potential of Rs. 22,014 mn by FY2017

Ongoing residential projects summary

Total Developable Area (mn sq. ft.) 9.05

Total Saleable Area (mn sq. ft.) 7.23

Total Saleable Area (mn sq. ft.) – Company’s share 4.69

Area Sold till June 30, 2013 (mn sq. ft.) 1.94

A. Total Sales Value Potential (Rs. mn) 30,281

A1. Sales booked till June 30, 2013 (Rs. mn)1 8,267

A2. Collections till June 30, 2013 (Rs. mn) 5,163

A3. Income Recognized till June 30, 2013 (Rs. mn) 2,341

B. Total Expected Project Cost (Rs. mn) 18,502

B1. Cost Recognized till June 30, 2013 (Rs. mn) 1,899

C. Income Unrecognized till June 30, 2013 (Rs. mn) 5,266

D. Remaining Sales potential from ongoing projects by FY2017 (Rs. mn) 22,014

Note:

1. Sales Booked includes Land Owner’s share for Nitesh Hyde Park project

2. Nitesh Camp David and Nitesh Central Park are now complete and have not been included in the upcoming projects


Q1 FY2014 Cumulative

ProjectsArea Sold (mn

sq. ft.)

Units

Sold

Sales Value

(Rs. mn)

Avg. Realization1

(Rs. per sq. ft.)

% Units

Sold

Units

Sold

Sales Value

(Rs. mn)

Nitesh Camp David 0.003 1 24.3 7,823 100% 4 84.7

Nitesh Central Park 0.014 6 60.5 4,366 92% 69 469.8

Nitesh Hyde Park 0.025 21 132.1 5,305 85% 428 1,694.0

Nitesh Flushing Meadows 0.005 3 21.8 4,394 82% 163 716.4

Nitesh Caesar's Palace 0.021 16 105.7 5,020 72% 257 1,280.7

Nitesh Cape Cod 0.041 25 229.7 5,653 64% 195 1,601.5

Nitesh Columbus Square 0.007 5 33.7 4,910 57% 137 861.8

Nitesh Logos 0.005 1 98.0 18,533 38% 3 253.2

Nitesh Long Island 0.212 86 413.9 1,952 27% 86 413.9

Nitesh Napa Valley 0.005 2 49.5 9,124 26% 22 904.0

Nitesh Park Avenue 0.000 - - - 7% 1 361.0

Nitesh Palo Alto 0.016 5 111.0 6,929 3% 8 180.7

Total 0.354 171 1,280.1 6,096 1,373 8,821.8

Q1 FY2013 0.078 49 434.1 5,553

Q4 FY2013 0.168 101 1,047.5 6,225

Rs. 8,822 mn of sales value achieved through the sale of 2.1 mn sq. ft. area

10



Note:



An integrated property developer with strong brand recall and presence across all assets class

Efficient

Business

Model

Project development through JDAs/JVs/Leases

Access to premium city centric properties at low upfront capital outlay

Efficient capital utilization - funds utilized only for project execution as compared to acquiring land

Higher internal rate of return

Established

Track

Record

Brought ~ 21 mn sq. ft. of area under development in 8 years since inception

Completed 11 premium residential and office projects totalling 1.73 mn sq. ft.

Strong brand recall for timely execution of prestigious projects

In-house fully integrated property development team

Balanced

Project

Pipeline

Total 14 projects with 10.66 mn sq. ft. of area currently under development

8.70 mn sq. ft. of area planned for future developments

Projects across all asset classes with predominant focus on residential segment

Well-located projects in cities of Bangalore, Chennai, Goa and Kochi

Strong

Leadership

&

Partnerships

Eminent board and strong management team with significant experience across industries

Investments from leading institutional investors like Apollo and HDFC AMC at project level

Partnership with leading firms like KPF, WATG, Callison and L&T for design and construction services

Developed India's first Ritz Carlton Hotel in Bangalore

11

Nitesh Estates: At a Glance Company Overview


Bangalore

Land 193.2 acres

13 ongoing projects with developable area of

10.46 mn sq. ft.

Plans for future development of 5.7 mn sq. ft.

area for residential segment

Chennai

Land 8.3 acres

Plans for future development of 1mn sq. ft.

area for commercial and hospitality segments

Goa

Land 9.3 acres

Ongoing luxury villa project with

developable area of 0.20 mn sq. ft.

Kochi

Land 11.6 acres

Plans for future development of over 2 mn

sq. ft. area for residential, commercial and

hospitality segments

12

Total

Land 222.4 acres

Over 19.4 mn sq. ft. area available for

ongoing and upcoming projects

One of India's most recognized luxury real estate brands with focus in south India

Land Portfolio Company Overview


Completed Projects

• 7 premium residential projects developed over 1.00 mn sq. ft.

• 0.49 mn sq. ft. corporate housing project for ITC

• 3 commercial properties in Bangalore covering 0.24 mn sq. ft.

Ongoing Projects

• 12 residential projects at various stages of construction, with a developable area of 9.05

mn sq. ft.

• The Ritz Carlton Hotel with a a developable area of 0.50 mn sq. ft.

• Nitesh Mall with a developable area of 1.11mn sq. ft.

Upcoming Projects

• Over 87 acres of land available for future projects (8.7 mn sq. ft. of developable area)

• Projects to be spread across various assets class and geographies

13

Proven Track Record Projects Overview


10.66

1.61

3.80

1.70

3.55

FY2014 FY2015 FY2016 FY2017 FY2014-17

9,162

4,378 4,689

High - Income Mid - Income Average

Residential

85%

Retail

10%

Hospitality

5%

High - Income

11%

Mid - Income

89%

14

12 residential projects in both high and mid income segments Average price realization (Rs. per sq. ft.)1

Current project mix

Total of 14 projects with 10.66 mn sq. ft. area currently under development

Construction schedule (mn sq. ft.)

Ongoing Projects Projects Overview


Notes:

1. Average price realization based on sales till June 30, 2013 and excludes Nitesh Long Island, a plotted development project

1 Nitesh Flushing Meadows AOP Whitefield Mid - Income Dec-13 2.00 0.38 200 67%

2 Nitesh Columbus Square JDA Bellary Road Mid - Income Mar-14 4.36 0.73 364 66%

3 Nitesh Hyde Park JDA Bannerghatta Road Mid - Income Jun-14 5.43 0.68 537 61%

4 Nitesh Caesar's Palace JDA Kanakapura Mid - Income Jun-14 5.00 0.94 498 69%

5 Nitesh Fisher Island JDA Goa High - Income Jun-14 9.32 0.20 36 60%

6 Nitesh Logos JDA Aga Abbas Ali Road High - Income Aug-14 0.64 0.09 16 45%

7 Nitesh Cape Cod JDA Outer Ring Road Mid - Income Dec-14 4.36 1.00 417 76%

8 Nitesh Long Island JDA Devanahalli Mid - Income Mar-15 43.00 0.89 321 32%

9 Nitesh Napa Valley JDA Bellary Road High - Income Mar-16 20.13 0.59 133 63%

10 Nitesh Park Avenue JDA Sankey Road High - Income Jul-16 0.62 0.14 24 50%

11 Nitesh Palo Alto JDA Outer Ring Road Mid - Income Dec-16 11.12 1.21 251 62%

12 Nitesh Hunter Valley JDA Hennur Mid - Income Mar-17 21.53 2.20 1,091 68%

127.51 9.05 3,888

13 The Ritz Carlton Hotel JV Residency Road Hospitality Sep-13 2.58 0.50 277 26%

14 Nitesh Mall JDA Indiranagar Retail Jun-15 5.06 1.11 - 50%

135.15 10.66

Completion

Date

Sub - Total (Residential)

Total

Land Area

(acres)

Developable

Area

(mn. sq. ft.)

No. ProjectLand

AgreementLocation

1 SegmentCompany’s Share

(%)

Total

Units

12 residential projects have revenue potential of Rs. 30,281 mn

Notes:

1. All projects in Bangalore except Nitesh Fisher Island

2. Total Units includes Land Owners’ share


15

Ongoing Projects Projects Overview


1 Whitefield MOU Whitefield, Bangalore Mid - Income Residential 23.00 2.38 69%

2 Thannisandra LOI Thannisandra, Bangalore Mid - Income Residential 10.21 1.06 67%

3 Nitesh British Columbia JDA Anjanpura, Bangalore Mid - Income Residential 4.70 0.61 68%

4 Nitesh Malibu MOU Hennur, Bangalore Mid - Income Residential 14.00 0.58 62%

5 Nitesh Key Biscayne JDA Devanahalli, Bangalore High - Income Residential 12.00 0.51 74%

6 Nitesh Plaza JDA Ali Askar Road High - Income Residential 2.44 0.40 49%

7 Richmond Road MOU CBD, Bangalore High - Income Residential 0.55 0.09 76%

8 Nitesh Courtyard JV Cunnigham Road, Bangalore High - Income Residential 0.48 0.04 55%

67.38 5.67

9 Nitesh Wimbeldon Garden JV Kakkanad, Kochi Commercial / Residential 8.00 1.64 38%

10 Chennai MOU Chennai Commercial / Hospitality 8.26 1.00 26%

11 Bolghatty Island MOU Kochi Hospitality 3.56 0.39 26%

87.20 8.70

Developable

Area

(mn. sq. ft.)

Company’s

Share

(%)

Sub - Total (Residential)

SegmentLand Area

(acres)

Total

No. Project Land Agreement Location

8.7 mn sq. ft. of area planned for future developments

16

Upcoming Projects Projects Overview


Contact Details:

Nitesh Estates Limited

Nitesh Timesquare, Level 7

#8 MG Road, Bangalore – 560 001

Venkateshan MA

Nitesh Estates

+91 80 4017 4000

[email protected]

Anirudh Bhardwaj

Churchgate Partners

+91 22 3953 7444

[email protected]

Disclaimer:

This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to

the implementation of strategic initiatives, and other statements relating to Nitesh Estates Limited’s (‘Nitesh Estates’ or the ‘Company’)

future business developments and economic performance. While these forward looking statements indicate our assessment and future

expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual

developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-

economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological

developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that

could affect our business and financial performance. Nitesh Estates undertakes no obligation to publicly revise any forward looking

statements to reflect future / likely events or circumstances.

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