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Indiabulls Group

Indiabulls Group
 Total Group Networth Rs. 19,356 Cr
 Total Group PAT for H1 FY 13-14 Rs. 885 Cr.
 Total Group Capital Expenditure Rs. 6,200 Cr. (US $ 1.2 bn.) capex in FY 10-11.
Planned capex of Rs. 29,000 Cr (US $ 5.7 bn.) by FY 2014-15.
 Focus on Execution and on ground results translating into profits.
For its ongoing projects Indiabulls Group consumes 385 MT of Steel, 550
MT of Cement & 1,700 CUM of RMC on daily basis.
 Creating Value for Shareholders Dividend payout of Rs. 551 Cr. in H1 FY 13-14

Journey of Indiabulls Group


Indiabulls
Financial Services
reverse merged into Indiabulls
Housing Finance Ltd.

Indiabulls Power
announced demerger
from Real Estate

Indiabulls
Real Estate

Indiabulls
started as a
securities
brokerage
company

2000

Indiabulls
Financial
Services

Indiabulls
Real Estate

Indiabulls
Power
started

demerged from
Financial
Services

started

started as a
lending business

2004

2005

2006

2007

2010

2013

 Independent companies with independent management teams


 All companies were spin offs from the existing company, with all benefits flowing to existing shareholders
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Indiabulls Group Companies


Indiabulls Group

Indiabulls Housing Finance


Indias 3rd largest
Mortgage Finance
Company

Indiabulls Real Estate

Indiabulls Power

National developer
with Focus on key
regions of
Mumbai, NCR (Delhi)
and Chennai

Developing 5400 MW
of Power Plants

72.86 Mn sqf currently


under Development

Total capex of US$6.1


billion in next 4 years
Full financial closure
achieved

Total Group Networth : Rs. 19,356 Crore

 Separate Listed Companies (There is no Group Holding Company)


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* Networth as on 31, March 2012

Indiabulls Securities
Retail Nondiscretionary wealth
management platform
catering to over 7 lacs
clients

Strategy and Focus


 Consolidation aim to be among top 3 players in existing businesses
within next 3 years
 No new products focus on gaining size and scale in existing core areas
 No capital market fund raising all businesses are well funded to
achieve growth and size
 Goal- FY 2013/14 target of US $ 1.5 billion in cash generation from the
3 companies (Finance, Real Estate and Power)

Indiabulls Housing Finance Ltd (IHFL)

Leading Housing Finance Company


Asset Composition
6%
21%

73%
Mortgages
Commercial Vehicles

 The company enjoys a long-term rating


of AA+
 Focus on long term, low risk home loan
business
 Retail mortgages comprise 73% of the
total asset book
 Home loans, which forms the majority of
incremental disbursals, are disbursed at
an average ticket size of Rs. 24 lacs;
average LTV of 66% at origination, for an
average term of about 13 years

Corporate Loans

Total Assets Under Management : Rs. 38,140 Crore (US $ 6 .25 billion)

Assets Growth
Total Loan Assets (Rs. Cr.)

Loans Sold (Rs. Cr.)


(in preceding 12 months)
3,093.4

38,140
31,025
2,129.9
23,792

764.0

Sep-11

Sep-12

Sep-13

Sep-11

Sep-12

Sep-13

 The growth in the loan book inclusive of loans sold in the previous 12 months is 23%
 Loans sold (outstanding as on 30th September, 2013): Rs. 3,902.7 Cr. on which spread at
3.1% p.a. is to be earned over the life of the loan

Stable Asset Quality


(as % of Total Loan Book)
0.86%

0.85%
0.76%
0.54%
0.45%
0.32%

0.41%

0.44%

0.31%

Sep-11

Sep-12
Gross NPA

General & Specific Provisions

Sep-13
Net NPA

 Focus on underwriting Low risk mortgage assets at low LTVs with emphasis on cash flows of
borrowers has allowed the company to maintain low NPA levels
 Standard Asset Provision pool of Rs. 307.10 Cr. is over and above General and Specific
Provision pool and is not netted off against Gross NPAs in calculation of Net NPAs

Home Loans: Expanding Reach


Indiabulls Distribution Network

Tier I
Tier II
Tier III
Total

58
89
58
205

 The company hosted AAWAS-2013, a budget property show, across major Indian cities like Delhi, Kolkata
and Chennai. The shows success reflects the expanding relationship base of the company amongst the
developer community and also their trust in the company
 The company continues to grow its branch network and now has 205 branches spread across the country
 The company has a well-trained, in-house Direct Sales Team of over 1,800 people to promptly attend to
prospective customers
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Improving Liability Profile


13%

8%

6%

20%

29%

28%

67%

63%

66%

Sep-11

Sep-12

Sep-13

Bank Loans
Bonds
Commercial Paper

Total Borrowings:
 As of September 30, 2013: Rs. Cr. 35,012 (US$ 5.74 bn)
 As of September 30, 2012: Rs. Cr. 28,006 (US$ 4.59 bn)
 Amongst its lenders, the company now counts 102 strong relationships: 26 PSU banks, 16
Private and Foreign banks and 60 Mutual Funds, Provident Funds, Pension Funds,
Insurance Companies and others
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Indiabulls Real Estate (IBREL)

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Quality and on-time Delivery


 Delivery and Execution Track Record
Delivered a record 3.3 million SF developed space valued at $1.75 billion
(within 4 years of inception). Fastest and largest delivery in value terms by any
Indian real estate developer in the same time period.
 Focus on Super Metros
95%+ portfolio is in Mumbai, Delhi (NCR) and Chennai markets.
 Focus on clear title projects
$ 900 million in lands bought through government auctions.
 Focus on Execution
With 72.86 million sqft area under development; capex of $ 2.6 billion over next
2 years (with all financing in place)
 Focus on Results
Cumulative $ 5 billion in projected Gross Sales by 2014-15.

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Focus on Super-Metros

NCR (Delhi)
$ 1 bn

Jaipur
Agra

Jodhpur

More than 95% of our projects (by


value) are in super-metro cities
Mumbai Metro Region, National
Capital Region (Delhi) and Chennai

Kanpur

Ahmedabad
Baroda

Mumbai
Region
$ 7.5 bn

Indore

Vishakapatnam
Hyderabad

Chennai
$ 510 mn
Madurai

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Business Update
Key Financial Highlights: FY12-13
Q2 FY 13-14
450.62

Q2 FY 12-13
342.30

PBT (Rs. Cr.)

131.56

54.16

PAT (Rs. Cr.)

86.33

36.45

EPS (Rs.)

1.92

0.66

Total Revenues (Rs. Cr.)

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Business Update
 Total Sales of Rs. 2,236 Cr for an area of 2.25 msft in H1 FY-14 vs. Rs. 1,214 Cr for
an area of 1.19 msft in H1 FY-13.
 Total leased area as on 30th Sep-13 stands at 2.8 msft. with annual rentals of Rs.
542 Cr per annum.
 IBREL purchased the entire stake of FIM Ltd. and its affiliates for Rs. 1,172.16 Cr
funded through internal resources without taking any incremental debt. Giving it
100% ownership in 7 projects comprising area of 297.76 acres in NCR and Chennai.
 IBREL retains its A+ rating for long term debt and A1+ (highest possible) for short
term debt.

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* All sales and marketing costs are expensed upfront and not amortized

Total Land Bank


Area(In Acres)
st

Opening Balance (As on 1 Apr 2012)

Residential

Total

960.36

43.18

1003.54

6.20

6.20

966.56

43.18

1009.74

Addition in Q4 FY 13
Less: Moved to AUD
Closing Balance

Commercial

* 2,588 Acres of Nashik SEZ not included in the above

Acquired 6.20 acres land in H1 FY-14 primarily in

Region Wise Land Bank Summary

NCR .
Strategic land acquisition over the years have
helped IBREL to aggregate a land bank of 3,598
acres across India.

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CHENNAI
18%
GREATER
MUMBAI &
MMR
22%

All land mentioned in the table is fully paid for and in our possession.

NCR
60%

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Approved Projects

Area Under Construction* - million sq. ft.

Regional Breakup of Area Under Construction

12.49

2.04
7.91

2.65

5.04

15.05

4.38

Super Premium

Premium

Mid income

Mumbai MMR

NCR

Chennai

Rest of India

 Total Saleable Area Under Construction 24.78 Mn. Sq. ft. as on 30th Sept-13.

*All construction work being executed through 100% IBREL subsidiaries by Grade A contractors like Shapoorji Pallonji, Ahluwalia, Ramky etc.

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Sales Inventory of approved under construction projects

Area Sold
( Mn Sqft)

Super Premium

4.38

2.01

2.37

5,335

8,532

Premium

12.49

8.49

4.00

4,133

3,000

Mid Income

7.91

3.74

4.17

1,139

1739

Total

24.78

14.24

10.54

10,606

13,325

Projects

Area to be
Total Value Sold
sold (Mn Sqft)
(Rs. Cr.)

Value of Unsold
Inventory at Current
Rates (Rs. Cr.)

Total Saleable
Area (Mn Sqft)

 11.24 msft already sold for Sales value of Rs 10,606 crores


 10.54 msft. remains to be sold with an estimated value of Rs. 13,325 crores at ongoing sale rates.
 Additional cash collections from Existing sales is Rs. 5,209 cr. linked to the construction progress
of the projects.

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Indiabulls Blu, Worli


 Project launched at Rs. 36,000 psft in June 2012.
 Already achieved residential sale rate of Rs. 58,399 psft.
 Office - 250,000 sq ft x sale rate Rs 25,000 (already contracted) = Rs 625 Cr
 Construction cost (including IDC and all fees) = Rs 1200 Cr
 Cash flow (after all costs) = Rs 4425 Cr.
 Construction Status

All approvals in place

Complete civil construction by Dec 15

Shapoorji Pallonji has been awarded civil construction


contract.

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45% saleable area already sold in Blu - Rs. 4,425 pre tax cashflows over next 3 years.

Projects Pipeline
Projects Launched in FY 13
1.

BLU, Worli, Mumbai 7-Star luxury residential complex spread over 10 acres in South Mumbai with
breathtaking sea views

2.

IB Golf City, Savroli, MMR Premium residential township with 18-hole golf course spread over 350
acres of greens

Launch Pipeline FY 14

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1.

IB City, Sonepat, Haryana 150 Acres of integrated township with plotted development, commercial
and group housing

2.

IB Enigma II, Sec 104, Gurgaon Super premium residential complex with Villas and high rise towers
spread over 34 acres

3.

IB Imperial, Sec 106, Gurgaon 54 Acres of Integrated township with high end residential
apartments, villas, luxury retail and commercial

4.

IB Commercial Centre, Sec 109, Gurgaon Over 5 acres of commercial development on the Dwarka
Expressway

5.

IB Greens, Chennai Premium residential township with high rise towers near the IT corridor spread
over 32 acres

6.

IB Mint, Sec 104, Gurgaon Iconic Commercial tower on the Dwarka Expressway

7.

IB Greens, Indore - 15 Acres of Integrated township with high end residential apartments, retail and
commercial in the heart of the city

8.

IB Mega Mall, Agra & Kanpur Destination mall/multiplex in the heart of the city

Indiabulls Power (IBPOW)

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Indiabulls Power (IBPOW) Focus on Delivery and Execution


 Plan Developing 5,400 MW across India.
Financial closure achieved for entire 5,400 MW.

 Execution US $6.1 billion capex over next 4 years for 5,400 MW. Phase I (2,700 MW) construction
in full swing (~5,000 workers on site)

 For both Phases (entire 5,400 MW) Land, Water and Coal clearances in place

 No External Risk/No Quality Risk


As work given to reputed contractors/suppliers. Indiabulls Power is largest private sector
client of BHEL

 Results
Annual run-rate 20 billion units of electricity generation to be achieved by March 13 and 40
billion units of annual run-rate to be achieved by March 14

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Execution


Execution - construction is in full swing with ~5,000 people working on the sites.

Suppliers - Work given to reputed suppliers and contractors


Vendor / Service Provider

Scope / Work

BHEL

Boiler Turbine Generator (BTG)

Shapoorji Pallonji

BTG Civil

Shapoorji Pallonji

BTG - Structural

Gannon Dunkerley

Balance of Plant Civil

Gammon India Limited

Chimney

Paharpur Cooling Towers

Cooling Tower

L&T

Coal Handling Plant

Areva

Power Transformer

ABB

400 KV Switchyard

Delivery First unit to be commissioned by Q3 FY14

Tariffs 1200 MW already tied up on a long term 25 year Power Purchase Agreement with Maharashtra
State utility at Rs 3.26/unit. Another 950 MW from Nashik plant approved by MSEDCL at Rs. 3.42/unit.

Cash flows Assuming Rs 1/unit margin (difference between sales price and cost of generation), cash
generation from average of 25 billion units produced in FY 13-14 would be US$ 600 million by March-2014.

Deal with BEST to sell 300 MW of power for 25 years

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Amravati Power Plant 2700 MW


Construction work in full swing..

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Amravati Power Plant 2700 MW

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Amravati Power Plant 2700 MW

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Amravati Power Plant 2700 MW

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Amravati Power Plant 2700 MW

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Amravati Power Plant 2700 MW

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Nashik Power Plant 2700 MW


Construction work in full swing..

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Nashik Power Plant 2700 MW

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Nashik Power Plant 2700 MW

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Nashik Power Plant 2700 MW

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Nashik Power Plant 2700 MW

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Nashik Power Plant 2700 MW

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Thank You

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