el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park...

20
Draft Residential Commercial Hotel Shopping Mall Investor Presentation Quarter Ended September 30, 2013 Nitesh Estates Ltd.

Transcript of el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park...

Page 1: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Draft R

esid

enti

al

Com

mer

cial

Hote

l

Sh

op

pin

g M

all

Investor Presentation

Quarter Ended September 30, 2013

Nitesh Estates Ltd.

Page 2: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Continued robust topline performance:

o Revenue of Rs. 844 mn

o Close to 3x Q2 FY2013 Revenue

Strong increase in profitability:

o Gross Profit of Rs. 381 mn – over 5x Q2 FY2013

o EBITDA of Rs. 255 mn – up 69% q-o-q

o High Gross Profit and EBITDA margins of 45.2%

and 30.2% respectively

Value enhancement to shareholders:

o Profit after Tax of Rs. 152 mn with a margin of

18.0% - close to 3x Q1 FY2014

o EPS of Rs. 0.90

Steady leverage providing growth potential:

o Net Debt flat at Rs. 2,457 mn

o Net Debt to Equity ratio of 0.73x

Consolidated Financial Highlights

1

Q2 FY2014 Summary Quarterly Performance

Investor Presentation: Q2 FY2014

Commenting on the results and performance, Mr.

Ashwini Kumar, Executive Director and Chief

Operating Officer of Nitesh Estates said:

“We have seen all round improvements in

performance. On year over year basis, revenue

during Q2 was up by 80%, and the average price

realisation at Rs 559 per sq mtr i.e. Rs 6,018/sqft

is also very encouraging. Nitesh British Columbia

was launched during Q2 and has been very well

accepted by customers.

Only Rs 3,040 million has got recognised as

revenue out of the sales potential of our project

portfolio and the balance will get recognized in the

coming quarters.

The Ritz-Carlton, Bangalore developed by the

Company has commenced operations. This is a

major milestone crossed. We are making steady

progress at our various project sites and we can

look at the coming periods with a great deal of

confidence.”

Page 3: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Consolidated Operational Highlights

2

Q2 FY2014 Summary Quarterly Performance

Sales Value of Rs. 1,115 mn

o Growth of over 80% y-o-y

o Cumulative Sales Value of Rs. 9,765 mn achieved through the sale of 2.3 mn sq. ft. area

Area Sold of 0.24 mn sq. ft.

o Growth of over 123% y-o-y

o 10.70 mn sq. ft. of area currently under development

Average Price Realization1 of Rs. 6,018 per sq. ft.

o Compared with Rs. 5,797 per sq. ft. in Q2 FY2013

Cash Collection of Rs. 899 mn

o Growth of 18% y-o-y

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

o Total revenue potential of the project is estimated to be close to Rs. 2,800 million

Note:

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

Investor Presentation: Q2 FY2014

Page 4: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Deep value embedded in development portfolio and recurring income streams

3

Q2 FY2014 Summary Quarterly Performance

Total sales potential of Rs. 33,050 mn from 13 ongoing residential projects

o Sales Booked to date of Rs. 9,276 mn

o Further sales potential of Rs. 23,774 mn by FY2017

o One project is expected to be completed in FY2014

Unrecognized income of Rs. 4,992 mn as at September 30, 2013

o Six residential projects are under income recognition

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

o Four residential projects are under pre-construction stage

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

Cumulative collection of Rs. 5,992 mn; represents 65% of sales booked till date

The Ritz Carlton Hotel, Bangalore commenced operations recently and reinforces the Nitesh brand in the

luxury and hospitality segments

Recurring income streams

o Nitesh Mall is expected to be operational in FY2017

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

Investor Presentation: Q2 FY2014

Page 5: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Increasing income recognition will significantly enhance profitability

4

Q2 FY2014 Financials Quarterly Performance

Notes:

1. Revenue includes Net Sales plus Other Income

Q2 Q1

(Rs. mn) FY2014 FY2013 FY2014

Total Debt 2,797.0 1,878.1 2,675.4

Cash and Cash Equivalents 339.6 339.7 275.8

Net Debt 2,457.4 1,538.4 2,399.6

Equity 3,385.5 4,463.3 3,254.6

Net Debt / Equity 0.73x 0.34x 0.74x

Debentures 1,123.9 970.0 1,159.6

Book Value / Share (Rs.) 23.21 30.61 22.32

Q1 q-o-q

(Rs. mn) FY2014 FY2013 FY2014 Growth (%) FY2014 FY2013

Revenue1 844.1 301.9 1,000.2 (15.6)% 1,844.3 627.7

Gross Profit 381.4 67.4 278.9 36.8% 660.3 160.2

Margin (%) 45.2% 22.3% 27.9% 35.8% 25.5%

EBITDA 254.8 (45.2) 150.6 69.2% 405.4 (89.1)

Margin (%) 30.2% nm 15.1% 22.0% nm

Profit After Tax (PAT) 151.7 (124.1) 56.5 168.4% 208.1 (165.2)

Margin (%) 18.0% nm 5.6% 11.3% nm

Net Profit 131.0 (125.6) 45.5 187.8% 176.4 (166.3)

Margin (%) 15.5% nm 4.5% 9.6% nm

Basic EPS (Rs.) 0.90 (0.86) 0.31 187.8% 1.21 (1.14)

Q2 H1

Investor Presentation: Q2 FY2014

Page 6: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Steady trend of improving operational performance

5

Q2 FY2014 Financials Quarterly Performance

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

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

Note:

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

Investor Presentation: Q2 FY2014

5,797

7,965

6,225 6,096 6,018

Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014

618 623

1,048

1,280

1,115

Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014

0.110.08

0.17

0.35

0.24

Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014

762

606681

849899

Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014

Page 7: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Str

uct

ure

Com

ple

te

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

Q2 FY2014 Operational Update Quarterly Performance

Nitesh Palo Alto

Nitesh Long Island

Nitesh British

Columbia

Investor Presentation: Q2 FY2014

Page 8: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Nitesh British Columbia

7

Recent Launches Strategy

Revenue potential ~ Rs. 2,800 mn

A mid-segment high-rise condominium project in

Anjanapura, off Kanakpura Road in South Bangalore

Aimed at the first-time home buyers with apartments starting

from Rs. 37 lakhs

Spread over an area of 4.70 acres with 0.61 msft developable

area

388 apartments including 2 and 3 bedroom units with areas

ranging from 1,000 sqft to 1,600 sqft

Nitesh Park Avenue

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

Investor Presentation: Q2 FY2014

Page 9: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

8

Recent Launches Strategy

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

Nitesh Palo Alto

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

Revenue potential over Rs. 5,300 mn

Investor Presentation: Q2 FY2014

Page 10: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

9

Recent Launches Strategy

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

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

Investor Presentation: Q2 FY2014

Page 11: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

10

The Ritz Carlton Hotel Income Generating Assets

Nitesh Estates has developed India’s first Ritz Carlton

hotel, one of the world's finest luxury hotel brands

Has commenced commercial operations from October

31, 2013 and provides a recurring revenue stream to the

Company and an association with a global iconic brand

A 5-star luxury hotel located in the Central Business

District of Bangalore at Residency Road

Spread over an area of 0.50 msft with 277 rooms

Has a convenient downtown location, richly-appointed

guest rooms & suites and multiple dining options

Super luxury hotel reinforcing the Nitesh brand in the luxury space

Investor Presentation: Q2 FY2014

Page 12: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

11

Q2 FY2014 Operational Update Quarterly Performance

Remaining Sales potential of Rs. 23,774 mn by FY2017

Ongoing 13 residential projects summary

Total Developable Area (mn sq. ft.) 9.66

Total Saleable Area (mn sq. ft.) 7.77

Total Saleable Area (mn sq. ft.) – Company’s share 6.21

Area Sold till September 30, 2013 (mn sq. ft.) 2.17

A. Total Sales Value Potential (Rs. mn) 33,050

A1. Sales booked till September 30, 2013 (Rs. mn)1 9,276

A2. Collections till September 30, 2013 (Rs. mn) 5,992

A3. Income Recognized till September 30, 2013 (Rs. mn) 3,040

B. Total Expected Project Cost (Rs. mn) 19,945

B1. Cost Recognized till September 30, 2013 (Rs. mn) 2,342

C. Income Unrecognized till September 30, 2013 (Rs. mn) 4,992

D. Remaining Sales potential from ongoing projects by FY2017 (Rs. mn) 23,774

Note:

1. Sales Booked includes Land Owner’s share for Nitesh Hyde Park, Nitesh Long Island, Nitesh British Columbia and Nitesh Palo Alto projects

Investor Presentation: Q2 FY2014

Page 13: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Q2 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 Central Park 0.003 2 18.4 5,272 95% 71 488.3

Nitesh Hyde Park 0.018 14 100.0 5,586 88% 442 1,794.0

Nitesh Flushing Meadows 0.005 3 22.2 4,436 83% 166 738.6

Nitesh Caesar's Palace 0.024 16 118.6 4,997 77% 273 1,399.4

Nitesh Cape Cod 0.031 18 180.9 5,776 70% 213 1,782.4

Nitesh Columbus Square 0.016 10 75.3 4,851 61% 147 937.2

Nitesh Logos 0.000 - - - 38% 3 253.2

Nitesh Long Island 0.078 34 149.7 1,926 37% 120 563.6

Nitesh Park Avenue 0.006 2 163.5 26,598 28% 3 524.5

Nitesh Napa Valley 0.003 1 31.4 11,578 24% 21 848.0

Nitesh British Colombia 0.045 35 191.9 4,223 9% 35 191.9

Nitesh Palo Alto 0.009 3 62.7 6,929 4% 11 243.4

Nitesh Hunter Valley 0.000 - - - 0% - -

Nitesh Fisher Island 0.000 - - - 0% - -

Total 0.238 138 1,114.6 6,018 1,505 9,764.5

Q2 FY2013 0.107 74 618.0 5,797

Q1 FY2014 0.354 171 1,280.1 6,096

Rs. 9,765 mn of sales value achieved through the sale of 2.3 mn sq. ft. area

12

Q2 FY2014 Operational Update Quarterly Performance

Note:

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

Investor Presentation: Q2 FY2014

Page 14: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

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 ~ 22 mn sq. ft. of area under development in 8 years since inception

Completed 12 premium residential, office and hospitality projects totalling 2.23 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 10.77 mn sq. ft. of area currently under development

9.12 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

13

Nitesh Estates: At a Glance Company Overview

Investor Presentation: Q2 FY2014

Page 15: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

Bangalore

Land 198.4 acres

13 ongoing projects with developable area of

10.6 mn sq. ft.

Plans for future development of 6.1 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

14

Total

Land 227.5 acres

Over 19.9 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

Investor Presentation: Q2 FY2014

Page 16: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

15

Proven Track Record Projects Overview

Completed Projects

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

• 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

• 13 residential projects at various stages of construction, with a developable area of 9.66

mn sq. ft.

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

Upcoming Projects

• Over 90 acres of land available for future projects (9.12 mn sq. ft. of developable area)

• Projects to be spread across various asset classes and geographies

Investor Presentation: Q2 FY2014

Page 17: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

10.77

0.38

4.530.59

5.27

FY2014 FY2015 FY2016 FY2017 FY2014-17Residential

90%

Retail

10%

14,015

3,457 4,022

High - Income Mid - Income Average

High - Income

11%

Mid - Income

89%

16

13 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 10.77 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 September 30, 2013 and excludes Nitesh Long Island, a plotted development project

Investor Presentation: Q2 FY2014

Page 18: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

1 Nitesh Flushing Meadows AOP Whitefield Mid - Income Mar-14 2.00 0.38 200 67%

2 Nitesh Columbus Square JDA Bellary Road Mid - Income Jun-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 Road 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 48%

7 Nitesh Long Island JDA Devanahalli Mid - Income Sep-14 43.00 0.89 321 31%

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

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 British Columbia JDA Anjanpura Mid - Income Dec-16 4.70 0.61 388 68%

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

132.21 9.66 4,276

14 Nitesh Mall JDA Indiranagar Retail Dec-16 5.06 1.11 - 50%

137.27 10.77

Completion

Date

Sub - Total (Residential)

Total

Land Area

(acres)

Developable

Area

(mn. sq. ft.)

No. ProjectLand

AgreementLocation

1 SegmentCompany’s Share

(%)

Total

Units

13 residential projects have revenue potential of Rs. 33,050 mn

Notes:

1. All projects in Bangalore except Nitesh Fisher Island

2. Total Units includes Land Owners’ share

17

Ongoing Projects Projects Overview

Investor Presentation: Q2 FY2014

Page 19: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

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 Old Madras Road LOI Old Madras Road, Bangalore Mid - Income Residential 7.73 1.03 65%

4 Nitesh Melbourne Park 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%

70.41 6.09

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%

90.23 9.12

Developable

Area

(mn. sq. ft.)

Company’s

Share

(%)

Sub - Total (Residential)

SegmentLand Area

(acres)

Total

No. Project Land Agreement Location

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

18

Upcoming Projects Projects Overview

Investor Presentation: Q2 FY2014

Page 20: el Nitesh Estates Ltd. Meet/210551_20131112.pdf · o Nitesh Camp David and Nitesh Central Park completed and delivered in FY2013 Cumulative collection of Rs. 5,992 mn; represents

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.