results presentation meet/208238_20131030.pdf · godrej group value creation for investors 12 year...

RESULTS PRESENTATION

Second Quarter, Financial Year 2014

DISCLAIMER

Some of the statements in this communication may be 'forward looking statements' within the

meaning of applicable laws and regulations. Actual results might differ substantially or materially

from those expressed or implied. Important developments that could affect the Company's

operations include changes in industry structure, significant changes in political and economic

environment in India and overseas, tax laws, import duties, litigation and labor relations

02 I GODREJ PROPERTIES I RESULTS PRESENTATION Q2 FY 14

AGENDA

01Overview

Operational Highlights 02

Financial Highlights 03

Annexure 04

� Established in 1897

1� $4.1 billion in annual revenue

2� 500 million people use a Godrej product every day

nd 3� Godrej ranked as 2 most trusted Indian brand

4� $2.8 billion brand valuation by Interbrand

� Amongst India�s most diversified and trusted

conglomerates

� Real estate identified as one of the key growth

businesses for the Group

GODREJ GROUP

Value Creation for Investors

12 Year CAGR

Godrej Consumer

Products

Godrej Industries

(%)

39

44

15

Note: CAGR calculated for closing prices as of 18th June, 2001 and 30th September, 2013

BSE SENSEX

Godrej & Boyce Godrej Industries Godrej Properties Godrej AgrovetGodrej Consumer


1. Group Revenues in FY13

2. Godrej Group internal study

3. The Brand Trust Report 2013

4. Interbrand study done in 2011

GODREJ PROPERTIES

2.7, 1

2.3, 1

0.8, 1

2.8,1 6.3, 4Nagpur

Mangalore

Chennai

Kochi

Kolkata

0.7, 1Chandigarh

5.9, 4NCR

22.8, 1Ahmedabad

15.4, 15Mumbai

14.3 , 4Pune

10.0, 2Hyderabad

4.6, 6Bangalore Est. Total Developable Area** (million sq.ft.)

No. of Projects: 41

**Total area under the project, irrespective of revenue/profit/area sharing arrangement

*As on 30th September, 2013

(As on 30th September, 2013)

Legends:

� Established in 1990

� Presence in 12 cities across India

� $ 500 million booking value in FY13

� 88.7* million sq.ft. of potential developable area

� Residential I Commercial I Townships

� Differentiated asset-light business model

� Over 50 awards received in the past 5 years

BENGALURU GURGAON MUMBAI


Godrej Brand

� Strong independent Board committed to best practices of corporate governance with focus on investor interests and shareholder value

� GPL benefits from trust amongst stakeholders in realty market that is characterized by opaque practices

Corporate

Governance

� Confidence of capital markets: Demonstrated by successful IPO, IPP, Residential Co-investment Platform and recently concluded Rights issueAccess to

Capital � Project level equity dilution to mitigate risk and remain capital efficient

� Low bank funding rates for GPL

STRENGTHS

nd 1� Godrej ranked as the 2 most trusted Indian brand in the 2013 Brand Trust Report

1. Brands ranked higher than Godrej: Nokia, Samsung, Sony, BMW & Tata Tea

2. Based on Godrej Group Internal Study

3. Total saleable area under projects, irrespective of the revenue / profit / area sharing arrangement

� GPL aspires to bring the Godrej brand�s reputation for trust and quality to the real estate sector

3� Added 11 projects with ~ 9.7 million sq.ft. saleable area in the last six quarters

� Access to Group�s land bank across India (e.g. Vikhroli)

Strong

Project

Pipeline

Effective

Land Sourcing

Model

� Competitive advantage in executing joint development projects

2� 500 million people use a Godrej product every day

� Asset light, capital efficient and high ROE development model


STOCK PERFORMANCE

Returns since IPO listing :– GPL : SENSEX : BSE Realty: -25% 10% -70%

Based on closing prices from 4th Jan 2010 to 30th September 2013;

IPO price adjusted to factor in Rights issue price

Source: BSE

GPL stock has substantially outperformed the BSE Realty Index since its IPO in 2010

GPL

BSE REALTY

SENSEX


0

20

40

60

80

100

120

140

160

180

200

January,10' July,10' January,11' July,11' January,12' July,12' January,13' July,13'

The Board is strongly committed to best practices of corporate governance with a

focus on investor�s interests and shareholder value

CORPORATE GOVERNANCE

Keki B. Dadiseth

The Independent Directors on the GPL Board are:

Lalita D. Gupte Pritam Singh

Served as Chairman of Hindustan Unilever Limited and as Director and Member of the Executive Committee at Unilever PLC and Unilever NV

Fel low of the Inst itute of Chartered Accountants of England & Wales

Holds Board positions at The Indian Hotels Co. Ltd, Britannia Industries Ltd, Piramal Enterprises Ltd, Siemens Ltd, J.M. Financial Ltd. and ICICI Prudential Life Insurance Co. Ltd. Holds Advisory positions at Acenture India, Pricewaterhouse and Indian School of Business

Member of the executive board and chairman of the governing body of Marsh & Mclennan Companies Group, India

S. Narayan

Pranay Vakil

Amitava Mukherjee

Amit B. Choudhury

Serves on the Board of Godrej Industries

Limited, Vora Soaps Limited, Wadala

Commodities Limited and Godrej Agrovet

Limited

Chairperson of ICICI Venture Funds

Management Company Limited

Board positions : Alstom (Public Limited

French Co.), Bharat Forge, Kirloskar

Brothers Ltd

Director of Praron Consultancy India Pvt. Ltd

Associated with FICCI Real Estate Committee

Chairman of Knight Frank India till Sep 2012

Served as the Director at IIM Lucknow. Serves

as Director of Hero MotoCorp Ltd., Parsvnath

Developers Ltd and also member on the local

board of Reserve Bank of India

Conferred 'Padma-Shri', one of India�s highest

civilian honors in 2003

20 years of Investment Banking experience

Served as Managing Director and Board

member both at Lazard India and Ambit

Corporate Finance


Served as Economic Advisor to the Prime Minister of India

Serves on the Board of Directors at Apollo Tyres Limited and Dabur India Limited

AGENDA

02Overview 01

Operational Highlights


Annexure 04

KEY OPERATIONAL HIGHLIGHTS


Business Development

Highlights

� 1 new project with 1.2 million sq. ft. of saleable area added in NCR in Q2 FY 14

� Additional 37 acres of contiguous land added to Panvel township

Sales Highlights � Moderate sales in Q2 due to weak market conditions and lack of new launches

Other Highlights� Delivery on time of 624 apartments in Phase 1 at Godrej Garden City

� 8 awards received in Q2 FY 14

BUSINESS DEVELOPMENT HIGHLIGHTS

Added 1 new project with 1.2 million sq.ft. of saleable area in Q2 FY 14

� Added GPL�s third project in Gurgaon with 1.2 million sq. ft. saleable area

� GPL�s economic interest is 38% of the profits

� Project will be developed as a premium residential group housing project

Sector 88A/89A, Gurgaon

Panvel Township, Mumbai


� Added 37 acres of contiguous land to the Panvel township

� GPL will have a total land parcel of 147 acres in Panvel

� Estimated saleable area of 4.3 million sq. ft. as per current Special Township Policy

� Saleable area likely to increase to over 11 million sq. ft. as per the proposed Special Township Policy

SALES HIGHLIGHTS

Growth

Area Sold* (sq.ft.)

Q2 FY14

Booking Value** (INR Cr)

Q2 FY13

#1,566,993

#963

505,205

333

Moderate sales due to weak market conditions and lack of new launches

-68%

-65%

Particular

*Includes :

� 33,924 sq.ft. of JVP area in Q2 FY14 & 422,959 sq.ft. area in Q2 FY13

� 63,012 sq.ft. of JVP area in H1 FY 14 & 502,207 sq.ft. of JVP area in H1 FY 13


GrowthH1 FY14 H1 FY13

#2,400,235

#1,488

1,109,732

944

-54%

-37%

**Includes :

� INR 13 Cr of JVP booking value in Q2 FY14 & INR 243 Cr of JVP booking value in Q2 FY13

� INR 25 Cr of JVP booking value in H1 FY14 & INR 268 Cr of JVP booking value in H1 FY13

#Includes :

� 1,000,000 sq. ft. of area sold with 600 crores of booking value in Godrej Summit, Gurgaon

PROJECT BOOKING

Residential Projects

Commercial Projects

1 Includes JVP booking area of 33,924 sq.ft. and JVP booking value of INR 13.27 Cr in Q2 FY 14

2 Includes total booking area and total booking value where GPL role is of a Development Manager

3 Includes cancellation in certain projects

Booking Area (sq.ft.) Booking Value (INR Cr)

Q2 FY 14 Q2 FY 14

3,77,781 200Total (Residencial Projects)

1,27,424 133Total (Commercial Projects)

Grand Total 5,05,205 333

2Godrej Platinum, Mumbai

19,689 14

Godrej Serenity, Mumbai

10,314 8

Other Projects3 26,054 22

1Godrej Garden City, Ahmedabad 1,77,541 60

Godrej Horizon, Pune

24,183 11

Godrej Palm Grove, Chennai 28,533 13

Godrej Prakriti, Kolkata

34,292 18

E � City, Bangalor2

e

12,200 19

33,720 14

Godrej Waterside, Kolkata 70,599 34

Godrej One, Mumbai

9,840 26


Other Projects 5,315 3

Godrej BKC, Mumbai

41,670 71

Godrej Gold County, Bangalore

Godrej Platinum, Bangalore

11,255 21

Booking Area (sq.ft.) Booking Value (INR Cr)

H1 FY 14 H1 FY 14

8,13,749 429

2,95,983 515

11,09,732 944

26,295 19

33,453 27

52,952 48

4,15,253 141

43,246 20

55,606 27

59,505 31

17,744 29

82,610 39

70,599 34

1,46,985 356

5,315 3

73,084 122

27,085 49

New Project Launches Planned in FY14

Project

Redevelopment, Byculla

City

Mumbai

Godrej Central, Chembur Mumbai

Redevelopment, Ghatkopar Mumbai

2Residences at The Trees, Vikhroli

Mumbai

2Godrej Oasis Hyderabad

New Phase Launches Planned in FY14

Project City

Godrej Horizon Pune

Godrej Anandam Nagpur

Godrej Platinum Mumbai

Godrej E � City Bangalore

Godrej Palm Grove Chennai

Status Status

Godrej Garden City Ahmedabad

Godrej Summit Gurgaon

Godrej Prakriti Kolkata

Note: Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially beyond initial expectations

LAUNCH TRACKER FY 14

Godrej Platinum , Alipore1Kolkata

1. Official Project launch in Q1 FY14 after final approval received and pre-sales commenced in Q4 Fy13

2. Regulatory approval timing likely to move launch to FY 15

Launched

On - Track

Delayed

New Project Added

Redevelopment, Chembur(Sahakar Nagar 2)

Mumbai


PROJECT PROGRESS UPDATE

Project Progress in Q2 FY14

Project Progress status at the end of Q1 FY14


Phase total saleable area are in million sq.ft. on top of the bar.

GGC GPL Area (million sq.ft.) Phase 1: 1.00, Phase 1A: 0.09, Phase 2: 0.31, Phase 3A: 0.93, Phase 3B: 0.39,

Phase 3C (B): 0.14, Phase 3D (A): 0.05, Phase 4A: 0.13, Genesis: 0.81: Waterside Tower 2: 0.77

3.5%12.6%

3.9% 5.0%11.0%

3.4%11.7%

1.3% 2.5% 3.4%4.6% 6.3%

4.6% 9.8%

1.6%1.2% 3.1%

1.5%4.8%

4.2%2.9% 3.3%

3.0%

0.8% 1.6% 0.3%0.0%

0.290.17

0.550.24 0.08

0.86 0.130.08 0.37 0.16

0.13 0.37

0.14 0.1 1.30.57 0.29

0.08 0.76 0.57 0.260.5

1.27

1.2 0.45 0.67 1.15

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

*God

rej G

old

County

*God

rej A

nand

am

Phase

2

*God

rej P

latin

um

GG

C P

hase

3C

(B

)

*God

rej H

oriz

on T

ow

er

C

God

rej P

alm

Gro

ve

God

rej H

oriz

on T

ow

er

B

GG

C P

hase

3D

(A

)

God

rej P

rakr

iti P

hase

4

GG

C P

hase

4A

God

rej F

rontie

r P

hase

4

God

rej P

rakr

iti P

hase

3

God

rej F

rontie

r P

hase

3

GG

C P

hase

1A

God

rej G

enesi

s

GG

C P

hase

3B

God

rej F

rontie

r P

hase

2

God

rej C

rest

God

rej O

ne, M

um

bai

God

rej P

rakr

iti P

hase

2

God

rej F

rontie

r P

hase

1

God

rej E

tern

ia

GG

C P

hase

3A

God

rej W

ate

rsid

e T

ow

er

2

GG

C P

hase

2

God

rej P

rakr

iti P

hase

1

GG

C P

hase

1

24.1%19.7%

32.3% 32.0% 30.3%

42.2%

34.0%

47.2% 48.0% 48.9%52.8% 52.9%

66.9%63.3%

71.7%74.6% 75.6%

79.3%76.1%

78.4%81.2% 82.1%

87.4%

95.9% 95.8%97.1%

99.4%

*Project Progress as per revised Guidance Note as on June 30,2013 is as follows:

Godrej Gold County : 23.8%

Godrej Anandam Phase 2 : 17.8%

Godrej Platinum : 21.6%

Godrej Horizon Tower C : 23.5%

GODREJ GARDEN CITY HANDOVER


Delivered 624 homes in Phase 1 of Godrej Garden City, Ahmedabad

Godrej Garden City Handover Celebration*

* Handover event held on 5th October though the process of handover began in Q2 FY 14

AWARDS AND RECOGNITIONS


� ‘Developer of the Year’ – Indian Realty Awards 2013

� ‘Real Estate Company of the Year’ – Second Position, Construction Week Awards 2013

� ‘Real Estate Person of the Year’ received by Mr. Pirojsha Godrej � Construction Week Awards 2013

� ‘India’s Top 10 Innovative Builders’ – Construction World Architect And Builder (CWAB) Awards 2013

� ‘Sustainability Award’ from CII as one of the 11 companies in India to have made an outstanding

contribution to the green building mission � GreenCo Summit 2013

� ‘Diamond EDGE Winner’ for ‘Customer Experience Transformation’ – InformationWeek

� ‘Luxury Project of the Year’ - Godrej Platinum – Bangalore Real Estate Awards 2013

� ‘Best Marketing Campaign’ for Godrej Garden City – Affordable Housing Segment - Paul Writer�s Great

India M arketing Summit

GPL received 8 awards in Q2 FY 14 and has received 11 awards in H1 FY 14

AGENDA

03

Overview 01


Financial Highlights

Annexure 04

KEY FINANCIAL HIGHLIGHTS

� H1 FY 14 witnessed improved EBITDA, PBT and PAT marginsImproving Margins

� GPL raised INR 700 Cr through a Rights IssueOther Highlights

Robust Growth

� Strong growth delivered

� YoY total income growth of 37%, EBITDA growth of 31%, PBT growth

of 31% and net profit growth of 5%


PERFORMANCE METRICS � Q2 FY 2014

Total income split by project

ProjectsTotal Income

(INR Cr)

Key Performance Metrics Q2 FY 14 % Change

Total Income (INR Cr.)

Profit Before Tax (INR Cr.)

PAT (After minority interest INR Cr.)

Q2 FY 13

233.1

70.5

32.6

320.4

92.5

34.3

37%

31%

5%

Godrej One, Mumbai 102.1

Godrej Platinum, Bangalore 47.6

Godrej Waterside, Kolkata 33.4

Godrej Prakriti, Kolkata 24.2

Others 113.1

320.4

Godrej One Godrej WatersideGodrej Platinum

Godrej Prakriti Others

Total income % split by project


TOTAL

35% 32%

15%10%

8%

PERFORMANCE METRICS � H1 FY 2014

Total income split by project

ProjectsTotal Income

(INR Cr)

Key Performance Metrics H1 FY 14 % Change

Total Income (INR Cr.)

Profit Before Tax (INR Cr.)

PAT (After minority interest INR Cr.)

H1 FY 13

465.9

115.9

49.7

564.6

173.7

73.7

21%

49%

48%

Godrej One, Mumbai 162.1

Godrej Garden City, Ahmedabad

80.4

Godrej Prakriti, Kolkata 53.1

Godrej Waterside, Kolkata 33.7

Others 235.3

564.6

Godrej One Godrej PrakritiGodrej Garden City

Godrej Waterside Others

Total income % split by project


TOTAL

42%

29%

14%

9%6%

CONSOLIDATED FINANCIAL STATEMENTS � P & L

ParticularsH1 FY 2013

(INR Cr)% Change

Total Income

EBITDA

Profit before tax

Profit after tax

Minority Interest

Net Profit after tax

465.9

119.3

115.9

74.7

-25.0

49.7

H1 FY 2014

(INR Cr)

564.6

178.0

173.7

111.9

-38.2

73.7

21%

49%

50%

50%

�

48%


Q2 FY 2013

(INR Cr)% Change

233.1

72.3

70.5

48.9

-16.4

32.6

Q2 FY 2014

(INR Cr)

320.4

94.7

92.5

60.6

-26.3

34.3

37%

31%

31%

24%

�

5%


CONSOLIDATED FINANCIAL STATEMENTS � BS

EQUITY AND LIABILITIES30-Sep-13

( INR Cr)

UnauditedASSETS

31-Mar-13

( INR Cr)

Audited

30-Sep-13

( INR Cr)

Unaudited

31-Mar-13

( INR Cr)

Audited

355.01

3.78 c) Long term provisions

0.72b) Other long-term liabilities

350.51a) Long-term borrowing

4) NON - CURRENT LIABILITES

150.56

2) SHARE APPLICATION MONEY PENDING ALLOTMENT

1.23

2,195.47

3.77

b) Reserves and Surplus 2095.85

0.00

a) Share Capital 99.62

226.30

1) SHAREHOLDERS FUND

80.20

5) CURRENT LIABILITIES

766.65c) Other Current Liabilities

705.38b) Trade Payables

1,752.15a) Short term borrowing

36.93d) Short term provisions

3,261.12

5,958.57 5,958.57TotalTotal

b) Goodwill on consolidation

a) Fixed Assets

1) NON CURRENT ASSETS

d) Deferred tax assets (net)

c) Non-current investments

f ) Other non-current assets

e) Long-term loans and advances

2.81

463.64

224.98

766.37

932.05

102.88

3,468.66

b) Trade receivables

a) Inventories

2) CURRENT ASSETS

d) Short-term loans and advances

c) Cash and cash equivalents

e) Other current assets

5,494.94

378.74

2.80

0.28

375.66

–

1,428.95

1,350.90

78.05

609.11

820.01

1,287.62

48.49

2,765.23

4,678.84

155.65

4.28

0.0

36.13

50.00

4,678.84

10.81

256.87

240.66

670.43

170.72

104.97

3,235.19

4,421.97

3) MINORITY INTEREST 145.75 105.92

FINANCIAL ANALYSIS

H1 FY 2013

EBITDA / Total Income 25.6%

PBT Margin % 24.9%

Net Profit Margin % (After minority interest) 10.7%

PARTICULAR

Net Debt (INR Cr)

Net Debt / Equity Ratio

Average Borrowing Cost (YTD)

PARTICULAR

Leverage Indicators

Profitability Indicators

As on Jun – 13As on Sep – 13

H1 FY 2014

31.5%

30.8%

13.1%

1,260

0.57

11.36%


Q2 FY 2013

31.0%

30.2%

14%

Q2 FY 2014

29.6%

28.9%

10.7%

1,611

1.10

11.42%


CAPITAL RAISING

Rights Issue of INR 700 crore oversubscribed in tough

macro-economic environment

• Raised INR 700 Cr through Rights Issue

• Issue oversubscribed

• Demonstrates GPL’s ability to successfully raise capital in tough macro economic environment

• Funds generated will strengthen GPL’s financial position and ability to add projects across India

Transaction Highlights

Launch Date 28-08-2013

Record Date 20-08-2013

Allotment Price (INR) INR 325

Basis of Offer (Ratio) 8 shares for every 29 shares held on Record Date

Shares issued 21,538,388 equity shares of Face Value INR 10

Capital Raised (INR Cr) 700

Summary Transaction Terms

AGENDA

04

Overview 01



Annexure

A. RESIDENTIAL PROJECTS

1 Godrej Garden City* Ahmedabad Residential 19.68Phase I to IV: Area Based � 73.6%

Phase V onwards: Revenue Based � 67.6%Ongoing

2

Tumkur Road � Sanjay Khan

Bangalore Residential 0.79 Revenue Based � 78.0%

3

Godrej Platinum Bangalore Residential 0.6GPL Owns 49.0% Equity in project

specific companyOngoing

4

Godrej Gold County Bangalore Residential 0.29 Revenue Based � 63.0% Ongoing

5

Godrej E � City Bangalore Residential 1.00 DM Fee � 11.0% of Revenue Ongoing

6

Godrej Crest Bangalore Residential 0.09 Revenue Based � 59.0% Ongoing7

Godrej Palm Grove Chennai Residential 2.51Area Based �70.0% (for 12.57 acres),68.0%

(for 4.82 acres) Ongoing8

Godrej Summit Gurgaon Residential 2.04Area Based � 65.0%, GPL holds 51.0%

Equity in project specific companyOngoing9

Sector 88-A Gurgaon Residential 1.2 Profit Sharing � 32.0% Forthcoming10

Godrej Frontier Gurgaon Residential 0.82 Revenue Based � 70.0% Ongoing11

G&B Moosapet Hyderabad Residential 2.22 Forthcoming

12

Kochi Project Kochi Residential 2.24 Revenue Based � 70.0% Forthcoming

13

Godrej Prakriti Kolkata Residential 2.20 Ongoing

14

Godrej Platinum Kolkata Residential 0.17 Revenue Based � 45% Ongoing

DM Fee � 10.0% of Revenue

S.No Project Name Location Asset ClassEst. Saleable

Business Model StatusArea (mn sq.ft.)

GPL � 51.0% Equity in project specific

company


15

Godrej Alpine Mangalore Mixed Use 0.64 Area Based for residential area � 71.5% Ongoing

16

Whitefield Bangalore Residential 1.00 DM Fee � 11.0% of Revenue Forthcoming

17

* Primarily a residential project with a portion of commercial saleable area ** Applied for permission to convert commercial saleable area of the project to residential saleable area

Forthcoming

Godrej Oasis** Hyderabad Residential 4.87 Land is owned by GPL Forthcoming

A. RESIDENTIAL PROJECTS



1. Increase in area due to change in DCR regulations

32

Godrej Horizon

Undri - 2

Pune

Pune

Residential

Residential

0.54

1.50

Profit Based � 51.0%

GPL Profit Share 40.0%

Ongoing

Forthcoming

31

Bhugaon Township Pune 9.44Share in project specific company 11.09%,

Development manager fee Rs 162/sq.ft.,

Profit sharing if profits exceed certain threshold

ForthcomingResidential

27

Godrej Anandam Nagpur 2.76PMC Fee Rs 400/sq.ft. for 7.7 lac sq.ft. RevenueBased agreement for remaining area : First 1 million sq.ft. 62.0% (GPL) & next 1 million sq.ft. 57% (GPL)

OngoingResidential

25

30

Godrej Edenwoods Mumbai 0.03Profit Based � 50.0% (from 85.0% of revenue for this project)

OngoingResidential

24

29

1Godrej Palms

Sundar Sangam

Mumbai

Mumbai

0.13

0.10

Area Based � 47.5%

GPL to construct space for society in lieu of saleable area

Ongoing

Forthcoming

Residential

Residential

23

1Godrej Serenity

Sahakar Nagar 2

Mumbai

Mumbai

0.18

0.75

Revenue Based � 50.0%

91.0% Revenue Sharing (GPL owns 51%

of equity in the project specific company)

Ongoing

Forthcoming

Residential

Residential

22

G&B Lawkim, Thane Mumbai 0.27 Profit Based � 32.0% ForthcomingResidential

Byculla Mumbai 0.30 ForthcomingResidentialDM Fee Rs 50 cr, with upside promote to GPL above certain price threshold

21

The Trees Mumbai 0.88 Profit Based � 60.0% ForthcomingMixed Use

18

Kalyan Township Mumbai 0.48 Revenue Based � 95.0% ForthcomingResidential

Godrej Platinum Mumbai 0.62 DM Fee � 10.0% of Revenue OngoingResidential

26

Ghatkopar Redevelopment

Mumbai Residential 0.19GPL to construct space for society in lieu of saleable area

Forthcoming

20

Panvel Township Mumbai 4.30Profit Based � 35.0% with upside promote to JV partner above Rs.1,000 GPL PBT per sq.ft.

ForthcomingResidential

34

33

28

Mumbai Residential 0.12 ForthcomingCurrey Road DM Fee 10.0 % of Revenue


35

36

Okhla NCR Residential 0.85Revenue Based � 52.5% (GPL owns 25.1% of equity in the project specific company)

Forthcoming

Godrej Central Mumbai 0.68Revenue Based 87.5% GPL owns 51.0% of

equity in the project specific company ForthcomingResidential

19

B. COMMERCIAL PROJECTS

1 Godrej Garden City* Ahmedabad Residential 2.405First 1 million sq.ft. � 63.6% Revenue Based

5Subsequent area � 67.6% Revenue BasedOngoing

2 Godrej Eternia Chandigarh Commercial 0.5 Revenue Based � 54% Ongoing

3 Godrej Oasis** Hyderabad Residential 0.44 Land is owned by GPL Forthcoming

4 Godrej Prakriti Kolkata Residential 0.42GPL owns 51.0% Equity in project

specific companyForthcoming

5 Godrej Waterside Kolkata Commercial 1.81 Area Based � 61.0% Ongoing

6 Godrej Genesis Kolkata Commercial 1.34GPL owns 51.0% Equity in project specific

company, Area Based � 62.0% Ongoing

7 Godrej Alpine Mangalore 0.25Revenue Based � 71.5% for commercial area

8 The Trees Mumbai 2.62 Profit Based � 60.0% Ongoing

9 Godrej BKC Mumbai Commercial 1.20 Profit Based � 50.0% Ongoing

10 Kalyan Township Mumbai Residential 0.06 Revenue Based � 95.0%

Forthcoming

11 Bhugaon Township Pune Residential 2.36

Share in project specific company 11.09%,

Development manager fee INR.162/sq.ft.,

Profit sharing if profits exceed certain

threshold

Forthcoming

Residential

Residential



12 Godrej Genesis Pune Commercial 0.48GPL owns 51.0% of equity in project

specific company, Revenue Based 58.0%Forthcoming


* Primarily a residential project with a portion of commercial saleable area ** Applied for permission to convert commercial saleable area of the project to residential saleable area

Forthcoming

Rajendra Khetawat / Karan BolariaGodrej Properties LimitedTel: +91 22 6651 0200Fax: +91 22 2207 2044 Email: [email protected]/ [email protected]

For further information, please contact:

THANK YOU

PRESS RELEASE

Q2 & H1 FY2014 Results

H1 FY2014 Total Income increased by 21% to INR 565 crore

H1 FY2014 PBT increased by 50% to INR 174 crore

H1 FY2014 Net Profit increased by 48% to INR 74 crore

Q2 FY2014 Total Income increased by 37% to INR 320 crore

Q2 FY2014 PBT increased by 31% to INR 93 crore

Q2 FY2014 Net Profit increased by 5% to INR 34 crore

Mumbai, Oct 30 2013: Godrej Properties Limited (GPL), a leading national real estate

developer, today announced its financial results for the quarter and half year ended

September 30, 2013.

CORPORATE HIGHLIGHTS:

Successful Capital Raising

The Company successfully concluded a Rights Issue of INR 700 crore

o The Issue was oversubscribed

o Demonstrates GPL’s ability to successfully raise capital in a difficult economic

environment

o Funds generated will strengthen GPL’s financial position and its ability to add new

projects

GODREJ PROPERTIES LIMITED

Registered and Corporate Office: Godrej Bhavan, 4th Floor, 4A, Home Street, Fort, Mumbai – 400 001

2

Business Development Highlights

Sustained traction in business development with the addition of a new project with 1.2 million

sq.ft. of saleable area in Q2 FY2014

Sector 88A/89A, Gurgaon

o GPL’s third project in Gurgaon with 1.2 million sq. ft. of saleable area

o To be developed as a premium residential group housing project

Panvel Township, Mumbai

o The Company added 37 acres of contiguous land to its Panvel township project

o GPL will now develop a total land parcel of 147 acres in Panvel

Operational Highlights

Delivered 624 homes on time to customers in Phase 1 of Godrej Garden City,

Ahmedabad in Q2 FY2014

Awards & Recognitions

GPL received 8 awards in Q2 FY2014 and has received 11 awards in H1 FY2014

‘Developer of the Year’ – Indian Realty Awards 2013

‘Real Estate Company of the Year’ – Second Position, Construction Week Awards

2013

‘Real Estate Person of the Year’ won by Mr. Pirojsha Godrej - Construction Week

Awards 2013

‘India’s Top 10 Innovative Builders’ – Construction World Architect And Builder

(CWAB) Awards 2013

‘Sustainability Award’ from CII as one of the 11 companies in India to have made an

outstanding contribution to the green building mission at the GreenCo Summit 2013

‘Diamond EDGE Winner’ for ‘Customer Experience Transformation’ –

InformationWeek

‘Luxury Project of the Year’ - Godrej Platinum – Bangalore Real Estate Awards

2013

‘Best Marketing Campaign’ for Godrej Garden City – Affordable Housing Segment -

Paul Writer’s Great India Marketing Summit

3

Commenting on the financial performance of Q2 & H1 FY2014, Mr. Pirojsha Godrej,

Managing Director & CEO Godrej Properties Limited, said:

“In a tough operating environment, the second quarter witnessed strong growth, a successful

capital raise and the expansion of our development portfolio. Our financial performance in

the first half has been strong with a 21% growth in total income, 49% growth in EBITDA and

48% growth in net profit compared to H1 FY2013. We are steadily building our development

portfolio by adding joint venture projects in key markets across India. We continue to place

tremendous emphasis on execution at all our on going projects and are happy to have

delivered Phase I of Godrej Garden City, Ahmedabad on time in Q2 FY14.”

Financial Overview (Consolidated) H1 FY2014 performance overview (Compared with H1 FY2013)

Total income increased by 21% to INR 564.6 crore from INR 465.9 crore

EBITDA increased by 49% to INR 178 crore from INR 119.3 crore

Net profit increased by 48% to INR 73.7 crore from INR 49.7 crore

EPS amounted to INR 8.60* as compared to INR 5.90*

Q2 FY2014 performance overview (Compared with Q2 FY2013)

Total income increased by 37% to INR 320.4 crore from INR 233.1 crore

EBITDA increased by 31% to INR 94.7 crore from INR 72.3 crore

Net profit increased by 5% to INR 34.3 crore from INR 32.6 crore

EPS amounted to INR 3.93* as compared to INR 3.87*

*Not annualised and adjusted for Rights Issue

- ENDS -

4

About Godrej Properties Limited:

Godrej Properties brings the Godrej Group philosophy of innovation and excellence to the

real estate industry. Each Godrej Properties development combines a 116-year legacy of

excellence and innovation with a commitment to cutting-edge design and technology. Godrej

Properties is currently developing residential, commercial and township projects spread

across 8 million square meters (87.6 million square feet) in 12 cities.

Godrej Properties has always embraced the notion that collaboration is the essence of

excellence. To that end, we have worked with the best designers, architects and contractors

within India and around the globe to deliver imaginative and sustainable spaces. By bringing

together the best talent in the global real estate sector, Godrej Properties works to create

developments that will last into the future, and foresee the needs of each and every resident.

Over the last few years, Godrej Properties has received over 40 awards and recognitions,

including “Popular Choice - Developer of the Year” award by ET NOW in 2013 and “Best

Business Practice in Real Estate” for the year 2012 by Accommodation Times.

For further information please contact: Rajendra Khetawat / Karan Bolaria

Godrej Properties Limited

Tel: +91 22 6651 0200

Fax: +91 22 2207 2044

Email: [email protected]/

[email protected]

DISCLAIMER:

Some of the statements in this communication may be „forward looking statements‟ within

the meaning of applicable laws and regulations. Actual results might differ substantially from

those expressed or implied. Important developments that could affect the Company‟s

operations include changes in the industry structure, significant changes in political and

economic environment in India and overseas, tax laws, import duties, litigation and labour

relations.

---

Anoop Poojari / Vikram Rajput

Citigate Dewe Rogerson

Tel: +91 22 6645 1211/ 1223

Fax: +91 22 6645 1213

Email: [email protected]/

[email protected]

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