Builders & Developers in Mumbai, India - Company Overvie Q2 Corporate and Analyst... · Worli...

1111

Company Overview

HDIL Group

– HDIL listed on BSE/NSE in July 2007

– Over three Decades of expertise in the Real Estate Business

– Developed over 100 million sq. ft. area

Company Profile

– A major player in Mumbai Realty with 90% land Reserves in the Mumbai Metropolitan Region (MMR)

– Total Land Reserves (including TDR) of *240.94 million sq. ft. as on 30th September, 2010

– Market Leader in Residential and SRA projects in the Mumbai Metropolitan Region (MMR)

– Currently executing the largest SRA project for rehabilitation of approx. 85,000 slum dwellers under expansion & modernization of Chhatrapati Shivaji International Airport, Mumbai

– Approx. 33,000 housing units under construction for MIAL Slum Rehabilitation Project

– Currently approx 87 million sq. ft. sale area of projects under construction

– 20 ongoing projects with a combination of Residential, Commercial & SRA

– Forthcoming residential launches of approx. 27 mn sq.ft in the next six months

– More than 5000 Residential apartments sold

Strong track record of performance, consistent growth and profitabilityStrong track record of performance, consistent growth and profitability

* Company estimates

222

Largest Player in Mumbai Metropolitan Region (MMR)

Ongoing Projects

Residential:• Metropolis• Ghatkopar• Kurla Premier Phase I• Kurla Premier Phase II• Majestic Towers• Whispering Towers- Phase I• Whispering Towers- Phase II• Galaxy • Residency Park- Virar• Exotica• Meadows Phase I• Meadows Phase II• Kharadi*• Daulat Nagar• Ekta Nagar• Palghar Township• Popular Car Bazaar• Kochi

Commercial:• Metropolis• Kurla Premier

Worli Commercial • HDIL Industrial Park

Popular Car Bazaar

Vasai-Virar belt (Part of Thane district) Preferred residential destination, well connected with rail and road networkMajority of Mumbai’s working population resides in this regionPotential business destination/ districtHDIL is one of the largest land holders in this area

Vasai-Virar belt (Part of Thane district) Preferred residential destination, well connected with rail and road networkMajority of Mumbai’s working population resides in this regionPotential business destination/ districtHDIL is one of the largest land holders in this area

Major potential for slum rehabilitation and redevelopmentMajor investment in infrastructure in the regionPhase I of the MIAL project nearing completion

Major potential for slum rehabilitation and redevelopmentMajor investment in infrastructure in the regionPhase I of the MIAL project nearing completion

Old business district of MumbaiExploring potential options in South Mumbai

Old business district of MumbaiExploring potential options in South Mumbai

BKC

Churchgate

Virar

Bandra

Chur

chga

teto

Vit

ar(5

2 km

s)

Band

rato

Vit

ar(3

0 km

s)

Total Land in MMR >200 million sq. ft.Total Land in MMR >200 million sq. ft.

333

Diversified Project Mix

20 Ongoing Projects aggregating 86.95 million sq. ft.20 Ongoing Projects aggregating 86.95 million sq. ft.

Segment wise Project Breakup

Ongoing Projects

Ongoing Projects

Residential 40%

Commercial and Retail- 6%

46.89 mn

34.48 mn

5.58 mn

SRS/Redevelopment-54%

4

Ongoing Projects-Residential

Residential Projects as of 30th September 10

Total Residential Portfolio of Approx. 35 mn sq.ftTotal Residential Portfolio of Approx. 35 mn sq.ft

Project LocationSaleable Area

(in sf)Launch Rate

(in Rs.)Current Rate

(in Rs.)

Premier Residency- Phase I

Metropolis

Harmony

Galaxy

Majestic

Virar Residency

Meadows Phase I

Exotica

Whispering Towers- Phase I

Total

5251 65511,000,000Kurla

Andheri (West)

Oshiwara

Kurla

Bhandup

Virar

Goregaon

Kurla

7551 12,500

Mulund

650,000

43,858

475,000

1,300,000

1,250,000

1,000,000

700,000

800,000

8451 8750

4251 5544

5751 6201

2521 3200

7740 8280

6851 7101

7,218,858

6851 7020

5

Forthcoming Projects-Residential

Project Location Saleable Area (in sf)

Popular Car Bazaar Andheri 800,000

Palghar Township Palghar 11,797,089

Whispering Towers- Phase II Mulund 800,000

Ghatkopar Ghatkopar 509,457

Kochi Kochi 6,299,640

Meadows- Phase II Goregaon 3,600,000

Ekta Nagar Kandivali 1,500,000

Daulat Nagar Santacruz 800,000

Premier Residency- Phase II Kurla 800,000

Total 26,906,186

Total Residential Portfolio of Approx. 35 mn sq.ftTotal Residential Portfolio of Approx. 35 mn sq.ft

6

Commercial and Retail Projects as of 30th September 10

Ongoing Projects- Commercial and Retail


Kurla Premier Kurla 2,000,000

Harmony Oshiwara 349,456

Popular Car Bazaar Andheri 400,000

HDIL Industrial Park Virar 1,500,000

Metropolis Andheri (West) 1,220,000

Worli Commercial Worli 110,000

Total 5,579,456

7

Slum Rehabilitation Projects as of 30th September 10

Ongoing Projects- SRA


MIAL Slum Rehabilitation Project (TDR) Mumbai 41,131,000

Meadows (Phase I and II) Goregaon 1,800,000

Ekta Nagar Kandivali 950,000

Bandra (East) SRS Scheme I Bandra-Kurla Complex 1,882,756

Bandra (East) SRS Scheme II Bandra-Kurla Complex 159,074

Malad (West) Malad 117,205

Ghatkopar Ghatkopar 350,000

Daulat Nagar Santacruz 500,000

Total 46,890,035

8

Focus on Execution

• Major Contractors

• Approximately 87 million sq.ft of projects under construction

• Over 350 Civil Engineers/ Architects recruited over a period of one year

Ahluwalia Contracts (India) Limited

Pragmatic Infrastructure Limited

Techno Housing Construction India Private Limited

Operating Staff increased by 2 times in the last one year Operating Staff increased by 2 times in the last one year

1) Average Steel Consumption More than 300 tons per day

2) Ready Mix Concrete More than 5000 cubic per day

3) Cement Approx. 10000 bags per day

4) Labors More than 10000 labors across all sites

• Execution Strengths:

9

Business Update

HDIL along with its subsidiaries has entered into an MOU for sale of FSI of

approx. Rs. 650 crores in the month of October, 2010.

Novinon Property (IDA) of 13 million sq.ft added to Residential Projects

(Planned)

Forthcoming Residential projects to be launched, approx. 27 million sq.ft

Launch of affordable township project in Palghar

Launch of Kochi integrated villa schemes: Total Villas- 850

HDIL has applied for redevelopment of Motilal Nagar under Swiss challenge

to MHADA. Expected Saleable area of 15 million sq.ft on allotment of

project.

1010

Residential Projects- Construction UpdateResidential Projects- Construction Update

Metropolis Meadows

1111

Location Kurla (W)

Launch Date 6th March, 2009

Total Saleable Area 10,00,000 sq. ft.

Average Size 1,000 sq. ft.

Type 1 BHK/2 BHK

Units offered 1,050

Sold > 95%

Premier Residency- Kurla (W)

Week 3, July 10

1

Week 4, September 10

1212

Location Kurla (E)

Launch Date 10th April, 2009


Average Size 600 sq. ft.

Type 1 BHK/2 BHK

Units offered 450

Sold > 90%

Galaxy- Kurla (E)

Week 3, July 10

2


1313

Location Andheri (W)

Launch Date 20th March, 2009



Type 2 BHK/3 BHK/4 BHK

Units offered 414

Sold > 95%

Metropolis- Andheri (W)3

Week 4, September 10Week 3, July 10

1414

Location Bhandup (W)

Launch Date 29th October, 2009



Type 2 BHK/3 BHK

Units offered 1,000

Sold > 40%

Majestic- Bhandup (W)

Week 3, July 10

4


1515

Residency Park- Virar (W)

Location Virar (W)

Launch Date January, 2010


Average Size 650 sq. ft.

Type 1 BHK/2 BHK

Units offered 728

Sold > 75%

Week 3, July 10

5


1616

Location Goregaon (W)

Launch Date May, 2010

Total Saleable Area 43858 sq. ft

Average Size 1160-1180 sq. ft

Units offered 38

Sold ~ 95%

Harmony- Goregaon (W)

Week 3, July 10

6


1717

Meadows- Goregaon (W)7


Launch Date June, 2010

Total Saleable Area 46,00,000 sq. ft

Residential Area- Phase 1 10,00,000 sq.ft

Average Size 1256 sq. ft

Units offered (Phase 1) 652

Sold ~ 75%

Week 3, July 10 Week 4, September 10

18

Whispering Towers- Mulund (W)

Location Mulund (W)

Launch Date October, 2010

Saleable Area (Phase 1) 8,00,000 sq. ft

Average Size 1352 sq.ft

Units offered (Phase 1) 594

Sold > 40%

October, 2010

8

19

Daulat Nagar, Santacruz (W)

Location Santacruz (W)

StatusRehabilitation work in progress

Rehabilitation Area 5,00,000 sq. ft

9

2020

Commercial Projects- Construction UpdateCommercial Projects- Construction Update

Harmony Metropolis

21

1 Premier- Kurla (W)

Location Kurla (W)


Type Lease Model

Average Lease Rent ~ Rs. 80/ sq. ft

Pre-Leasing ~ 20%

Week 3, July 10 Week 4, September 10

2222

HDIL Industrial Park- Virar (W)

Location Virar (E)

Launch Date September, 2009


Units offered 1068

Sold ~90- 95%

2

Week 4, September 10Week 3, July 10

2323

Metropolis- Andheri (W)

Location Andheri (W)

Launch Date July, 2009


Type Lease Model

Average Lease Rent ~ Rs. 140/ sq. ft

Pre-Leasing ~ 20%

Week 3, July 10

3


2424

Harmony- Goregaon (W)


Launch Date May, 2010

Total Saleable Area 65,850 sq. ft

Average Size 250-600 sq. ft

Units offered 163

Sold ~ 75%

Week 3, July 10

4


252525

4

23

12

11 10

9

13

8

7

6

1

27

26

30

29

28

25

32

5

4

22

3

2

31

14

15

20

17

18

19

16

21

31A

PRIORITY 1

PRIORITY 2

PRIORITY 2A

PRIORITY 3

Largest Urban Rehabilitation Scheme in India Rehabilitation > 1 million peopleNo. of Hutments – 85,000 approx.Scale similar to Town Planning & Urban Renewal SchemeVital Public Infrastructure Project.Approved FSI of 4Airport Modernization & Expansion Provide World Class InfrastructureGeneration of more than 10,000 jobs over next few years

MIAL Rehabilitation Project: Uplifting face of Mumbai

HIGHLIGHTS

MIAL Project would help in uplifting the face of MumbaiMIAL Project would help in uplifting the face of Mumbai

2626

MIAL Rehabilitation Project- Phase 1

9.2 mn sq ft of rehabilitation area

1 mn sq ft of amenities

25,000 apartments

Completed > 75% (in 2 yrs)

Relocation < 1 month

HIGHLIGHTS

Premiere Kurla Bhandup

No. of Families 22,000 2000 2500

Rehab. Area (Sq. ft.) 8 mn. 0.5 mn. 0.7 mn.

Project Start Date May 08 May 08 Sep 09

Work completd > 75 % > 75 % >25%

27

Progress of MIAL Phase I and Phase II Rehab. Sites

HIGHLIGHTS

Bombay Oxygen Popular Car Bazaar Mahul

No. of Families ~ 3,000 ~2500 ~1000

Rehab. Area (Sq. ft.) 1.2 mn 1 mn 0.5 mn

Project Start Date Oct 10 Nov 10 Nov 10

HIGHLIGHTS

Premiere (I and II) Kurla Bhandup

No. of Families ~22,000 ~2000 ~2500

Rehab. Area (Sq. ft.) 8 mn. 0.5 mn. 0.7 mn.

Project Start Date May 08 May 08 Sep 09

Work completd > 75 % > 75 % >25%

Approx. 33,000 housing units under constructionApprox. 33,000 housing units under construction

2828

Virar Rental Housing Project

28

Executing Largest Rental Housing Scheme in Mumbai Metropolitan Region since 1947 with MMRDA Executing Largest Rental Housing Scheme in Mumbai Metropolitan Region since 1947 with MMRDA

HIGHLIGHTS

Largest Rental Housing Scheme in MMR since 1947 Development of 525 acres aggregating to 56 million sq. ft. of built up area - FSI of 4Completion in 4 phases by 2015Approx. 40,000 rental units of 160 sq. ft. carpet area aggregating to 13 million sq. ft. of built up area to be given to MMRDA free of costHDIL to generate 50 million sq. ft. of saleable areaRevenue visibility from sale of FSI as well as constructed areaDevelopment of 4 million sq. ft. of Social InfrastructureEnvironment Management Plan

RENTAL HOUSING SECTORRENTAL HOUSING SECTOR

FREE SALE HOUSING SECTORFREE SALE HOUSING SECTOR

29

Hospitality Project- Juhu, Mumbai

Operator- Hilton

Brand- Conrad

Management Agreement signed with

Hilton hotels for 20 years

Hotel Description-

– 5 star

– Approx. 240 rooms

– One All day dining

– Three Specialty restaurants

– Night Club

– Executive lounge, Lounge Bar

– Pool

– Retail segment

– Spa and Fitness, Banquet and Conference

Project Completion Deadline- 2014

HDIL owns 45% stake in the Hospitality Business HDIL owns 45% stake in the Hospitality Business

30

Hospitality Project- Andheri, Mumbai

HDIL owns 100% stake in the project (part of Metropolis Commercial project) HDIL owns 100% stake in the project (part of Metropolis Commercial project)

Group- Intercontinental Hotel Group

Brand- Crown Plaza

Business/ Leisure Hotel

Hotel Description-

- 5 star

- Approx. 200 rooms

- One All day dining

- Three Specialty restaurants

- Night Club

- Executive lounge, Lounge Bar

- Pool

- Retail segment

- Spa and Fitness, Banquet and Conference

Project Completion Deadline- 2013

313131

Financial OverviewFinancial Overview

32

Housing Development and Infrastructure Limited

Financial Performance/ RatiosStand alone

Quarter ended Quarter ended

30/09/2010 30/09/2009 30/09/2010 30/06/2010

Turnover (Net) 372.65 353.70 5.36% 372.65 450.92 -17.36%

Other Income 33.88 27.35 23.88% 33.88 34.21 -0.97%

Total Income 406.53 381.05 6.69% 406.53 485.13 -16.20%

PBT 248.31 187.61 32.35% 248.31 278.23 -10.75%

PBT % to income 61.08% 49.24% 61.08% 57.35%

EBIDTA 271.10 207.04 30.94% 271.10 301.60 -10.11%

EBIDTA % to income 66.69% 54.33% 66.69% 62.17%

PAT 212.86 148.59 43.25% 212.86 234.31 -9.15%

PAT % to income 52.36% 38.99% 52.36% 48.30%

Net worth 9,111.98 6,644.14 37.14% 9,111.98 7,586.07 20.11%

Debt*** 4,133.32 3,271.14 26.36% 4,133.32 4,048.63 2.09%

Debt Equity ratio 0.45 0.49 0.45 0.53

EPS-Basic 5.67 4.34 5.67 6.48

Inventories 9,236.93 7,179.54 28.66% 9,236.93 8,731.09 5.79%

Growth Growth Particulars

Rs. In crores

*** Cash on 30/09/10 = 1203.72 Investment in Mutual funds= Approx. 300 crores Net Debt = 2619.51 Net Debt/ Equity = 0.29

33

Balance Sheet as atHousing Development and Infrastructure Limited

Schedules

SOURCES OF FUNDSShareholders' fundsShare capital A 4,150,039,860 3,458,426,760 Reserves and surplus B 85,136,374,081 60,413,020,205 Share warrant 1,833,400,000 91,119,813,941 2,570,000,000 66,441,446,965

Loan funds CSecured loans 41,333,165,199 32,711,377,919

Deferred tax liability (Net) D 61,726,208 30,044,903

Total 132,514,705,348 99,182,869,787

APPLICATION OF FUNDSFixed assets E

Gross block 1,846,959,403 951,990,387 109,738,132 65,869,105

Net block 1,737,221,271 886,121,282 Capital work-in-progress 26,510,546 1,763,731,817 122,613,843 1,008,735,125

Investments F 9,431,410,500 5,077,670,137

Current assets, loans and advancesInventories G 92,369,320,987 71,795,403,246 Sundry debtors H 4,507,989,941 3,308,765,173 Cash and bank balances I 12,037,191,531 1,103,371,856 Other current asset J 22,625,402 18,690,368 Loans and advances K 26,775,783,604 23,412,070,900

135,712,911,465 99,638,301,543 Less : Current liabilities and provisionsCurrent liabilities L 13,606,877,801 6,549,194,497 Provisions M 786,470,633 (7,357,479)

14,393,348,434 6,541,837,018 Net current assets 121,319,563,031 93,096,464,525

132,514,705,348 99,182,869,787

30-Sep-2009(Unaudited)(Unaudited)

30-Sep-2010

(Amount in `)

Less : Accumulated depreciation

(Amount in `)

34

Quarter ended Quarter ended Quarter ended Six months ended Six months ended Year endedSchedules 30-Sep-2010 30-Sep-2009 30-Jun-2010 30-Sep-2010 30-Sep-2009 31-Mar-2010

(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)(Amount in `) (Amount in `) (Amount in `) (Amount in `) (Amount in `) (Amount in `)

INCOMETurnover N 3,726,501,470 3,536,963,857 4,509,244,227 8,235,745,697 6,490,428,079 14,919,917,617 Other income O 338,832,362 273,466,401 342,146,957 680,979,319 506,127,767 1,075,907,120

4,065,333,832 3,810,430,258 4,851,391,184 8,916,725,016 6,996,555,846 15,995,824,737 EXPENDITUREVariation in stock in trade P 369,231,821 13,186,938 (928,946,263) (559,714,442) 283,679,953 (391,507,225) Variation in work-in-progress Q (5,427,699,793) (3,755,998,248) (6,045,282,746) (11,472,982,539) (7,662,124,033) (15,528,157,615) Transfer to Investment / Fixed assets (31,089,265) - (99,781,625) (130,870,890) (215,799,400) (690,716,779)

R 4,893,236,104 4,330,903,940 7,473,768,492 12,367,004,596 8,512,487,833 19,147,668,693

Project specific interest S 1,298,874,316 927,316,546 1,188,536,584 2,487,410,900 2,227,316,750 4,366,496,459 Employees' remuneration and welfare expenses T 98,161,475 55,939,420 103,658,906 201,820,381 109,183,940 260,281,700 Administrative expenses U 153,627,011 168,633,358 143,520,381 297,147,392 277,641,596 638,890,270 Interest S 211,905,025 184,981,453 214,498,579 426,403,604 353,822,767 788,999,281 Depreciation / Amortisation 15,952,117 9,369,045 19,155,565 35,107,682 17,866,164 51,028,438

1,582,198,811 1,934,332,452 2,069,127,873 3,651,326,684 3,904,075,570 8,642,983,222 Operating Profit before Tax 61% 2,483,135,021 1,876,097,806 2,782,263,311 5,265,398,332 3,092,480,276 7,352,841,515 Less :Provision for tax 346,300,000 386,500,000 438,800,000 785,100,000 525,600,000 1,300,000,000 Less:-Provision for wealth tax 110,600 157,579 113,300 223,900 233,579 568,471 Less :Deferred tax liability 8,154,904 3,530,352 239,459 8,394,363 6,029,711 29,316,652 Operating Profit after Tax 52% 2,128,569,517 1,485,909,875 2,343,110,552 4,471,680,069 2,560,616,986 6,022,956,392 Balance brought forward from previous year / quarter 8,172,499,769 7,128,943,298 5,829,241,346 5,829,241,346 6,054,236,187 6,054,236,187

9,347,799 - 147,871 9,495,670 (56,351,232) Profit available for appropriation 10,310,417,085 8,614,853,173 8,172,499,769 10,310,417,086 8,614,853,173 12,020,841,346 Appropriations :Less : Transferred to Debenture Redemption Reserve - - - - - 6,191,600,000 Profit Carried to Balance Sheet 10,310,417,085 8,614,853,173 8,172,499,769 10,310,417,086 8,614,853,173 5,829,241,346

Earnings per share - Basic (Amount in `) 5.67 4.34 6.48 12.13 8.29 18.23 - Diluted (Amount in `) 5.60 4.24 6.40 11.97 8.17 17.81Equity shares of per value Rs. 10/- eachNumber of shares used in computing earnings per share

Basic 376,888,962 342,019,306 361,831,687 369,401,465 308,937,758 327,375,278 Diluted 382,092,690 350,764,325 366,571,406 374,374,458 313,334,160 334,996,367

Housing Development and Infrastructure Limited

Cost of construction, Land and development expenses

Add/ Less :Excess/ (Short) Provision for taxation no longer required

Profit and Loss Account for the period ended

35

A Cash flow from operating activitiesNet profit before tax 2,483,135,021 5,265,398,332 Adjustments for :(1) Depreciation 15,952,117 35,107,682 (2) Interest expenses 211,905,025 426,403,604 (3) Profit on sale of units of mutual funds (10,602,884) (10,602,884) (4) Interest received (266,040,931) (549,233,324) (5) Dividend received (620,100) (620,100) (6) Loss on sale of investments - - (7) Loss on sale of fixed assets 13,182 (49,393,591) 370,938 (98,574,084)

Operating profit before working capital changes 2,433,741,430 5,166,824,248 Movements in working capital :

Decrease / (Increase) in inventory (5,058,467,972) (11,798,988,954) Decrease / (Increase) in sundry debtors (862,915,533) (2,500,814,003) Decrease / (Increase) in other receivables (2,220,259,044) (4,830,848,349) (Decrease) / Increase in trade and other payables 1,980,562,550 5,589,927,803

Net movement in working capital (6,161,079,999) (13,540,723,503) Cash generated from operations (3,727,338,569) (8,373,899,255) Less : Direct taxes paid (net of refunds) * 263,545,321 317,789,078 Net cash from operating activities (3,990,883,890) (8,691,688,333)

B Cash flows from investing activities(1) (Increase) / Decrease in capital WIP (17,184,276) (23,959,150) (2) (Increase) / Decrease in investments (net) (3,104,856,361) (3,482,647,844) (3) Interest received 266,040,931 549,233,324 (4) Dividend received 620,100 620,100 (5) Purchase of fixed assets (43,699,583) (55,197,898) (6) Profit on sale of units of mutual funds 10,602,884 10,602,884 (7) Sale of fixed assets 9,298 258,296

Net cash from investing activities (2,888,467,007) (3,001,090,288)

C Cash flows from financing activities(1) Proceeds from borrowings 3,900,007,717 5,013,622,717 (2) Repayment of borrowings (3,053,165,448) (4,197,626,948) (3) Proceeds from share warrants 1,833,400,000 4,173,400,000 (4) Increase in share capital including share premium 11,575,000,116 11,575,000,116 (5) Share issue expenses (281,901,275) (281,901,275) (6) Interest paid (211,905,025) (426,403,604)

Net cash used in financing activities 13,761,436,085 15,856,091,005

Net increase in cash and cash equivalents (A + B + C) 6,882,085,188 4,163,312,384 Cash and cash equivalents at the beginning of the year / quarter 5,155,106,343 7,873,879,147 Cash and cash equivalents at the end of the year/quarter 12,037,191,531 12,037,191,531

Components of cash and cash equivalents as at 30-Sep-2010 30-Sep-2010Cash on hand 47,704,315 47,704,315 With banks - on current account 9,574,926,171 9,574,926,171 - on deposit account 2,414,561,045 2,414,561,045

12,037,191,531 12,037,191,531

(Amount in `)(Unaudited)30-Sep-2010

Six months ended30-Sep-2010(Unaudited)

(Amount in `)

Quarter ended

Housing Development and Infrastructure LimitedCash Flow Statement for the period ended

363636

Annexure 1: SRSAnnexure 1: SRS

373737

Slum Rehabilitation Scheme

Source: Slum Rehabilitation Authority

70% of dwellers from Co-Op. Hsg. Soc.

Appt. of Chief Promoter/ Opening of bank account

Docs (land title etc.) collected/ Plot measured/ Structures Demarcated

Structure survey & no./ Table of house no. prepared

Developer appointed/ Developer appoints architects, surveyor,

engineer, etc.

Developer enters into individual agreements with

dwellers

Proposal with plans, annexures & documents

submitted to SRA

Initial Stage

Scrutiny by sub engineer/ Scrutiny fee calculated

Scrutiny fee paid by developer

Annexure II submitted for certification/ Annexure III submitted to finance dept.

Annexure I scrutinised by engg. dept.

Second Stage

Lots of allotment of tenements to participating

members/ subsequently for non-participants

Developers arrange for transit accommodation, either on-site or off-site

Draw lots for allotment of transit tenements

Slum dwelleres shifted to transit camps & hutments

demolished/ non-participants issued notices

If non-participants do not agree within 15 days, they are physically evicted from

slum site

All structures demolished and work up to plinth level is

completed

After verifying plinth dimensions, SRA grants permission to construct

beyond plinth level

Third Stage

Lists of allottees prepared / allotment of tenements is

made in joint name

Rehabilitation buildings completed

Building permissions for free sale buildings given in

proportion to rehabilitation buildings

Plans for further rehabilitation & free sale

buildings approved

SRA issues identity cards to slum dwellers

Building & compliance with IoA conditions verified/ Occupation permitted/

Possession as per allotment

Building Completion Certificate submitted by

architect

Fourth Stage

Annexure II & III certified by respective authorities

LoI, layout, IoA, CC issued

Fifth Stage

Separate property cards for rehabilitation plot, free sale

plot & reservation plots prepared

Further building permissions/ Occupation

permissions granted in due course

Construction of remaining buildings commenced

383838

Disclaimer

This investor presentation has been prepared by Housing Development and Infrastructure Ltd (“HDIL”). and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied should not be deemed to constitute an offer.

No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements”, including those relating to the general business plans and strategy of HDIL, its future financial condition and growth prospects, future developments in its industry and its competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, ‘horizons of growth’, ‘strong growth prospects’, etc., or similar expressions or variations of such expressions. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to risks with respect to its real estate business, SEZ business and its infrastructure business.

HDIL may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. This presentation cannot be copied and disseminated in any manner.

No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of HDIL. This presentation is strictly confidential.

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