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Overview of Real Estate Industry

Real estate industry is one of the fastest growing industries with a CAGR of approx 30%

Sustainability of growth in the real estate industry mainly because of:

Rapid expansion of the IT/ ITES and business outsourcing industry

Rising demand in the residential sector & increasing income levels

Real estate contribution to GDP is around 6%

Second largest employer after agriculture

Recent global economic uncertainties also affected real estate market as,

Macroeconomic indicators are not healthy

Fiscal deficit and interest rates are high, while the rupee is depreciating

As per 2010-2011
Particulars
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
NET FIXED ASSETS (A)
INVESTMENTS (B)
Working Capital:Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans & Advances (1)
Current Liabilities
Provisions
Total CL & Provisions (2)
Net Current Assets (1-2)
Capital Employed (A+B+C)
Less: Long term Debts
Secured Loans
Unsecured Loans
Total Debt
Networth
Equity Share Capital
Share Application Money
Reserves
Networth

COMPARATIVE
BALANCE SHEET OF
DLF
% Inc/Dec over 2010
7.00%
46.20%
0.80%
28.00%
14.40%
7.30%

COMPARATIVE
BALANCE SHEET OF
OMAXE Ltd.
% Inc/Dec over 2010
5.80%
-0.80%
13.00%
690.50%
18.80%
0.10%

COMPARATIVE
BALANCE SHEET OF
IBREALST Ltd.
% Inc/Dec over 2010
6.40%
35.10%
-7.60%
#DIV/0!
-5.00%
-23.20%

28.40%
-55.60%
254.10%
22.50%
32.50%
-68.30%
28.00%
163.50%
-32.60%
82.60%
15.70%
13.40%

-8.30%
116.40%
-32.70%
-0.90%
-1.30%
8.40%
-0.80%
23.40%
27.70%
23.40%
-8.30%
-7.30%

#DIV/0!
226.40%
9050.00%
650.00%
66.90%
-78.80%
61.70%
-26.20%
1422.70%
15.50%
62.20%
17.20%

26.80%
-65.70%
19.20%
7.60%

-20.00%
35.80%
-17.60%
4.40%

237014%
14.90%
1326.90%
-5.70%

0.00%
NA
7.80%
7.60%

0.00%
NA
5.10%
4.40%

0.20%
363866%
-7.50%
-5.70%

PARTICULARS
Profit & Loss account

DLF

OMAXE

INDIABULLS

Base year 2010

Base year 2010

Base year 2010

CHANGE

% CHANGE

CHANGE

%CHANGE

CHANGE

%CHANGE

Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost

609.00
0
609.00
326.95
0.00
935.95
0.00
0
0.00
-0.6

26.39700401
0
26.39700401
35.98551554
0
29.10618104
0
0
0
-0.66298343

346.12
0
346.12
5.18
0.00
351.3
0.00
0
0.00
13.81

43.53874989
0
43.53874989
41.87550525
0
43.51326579
0
0
0
66.17153809

118.94
0
118.94
-84.62
0
34.32
0
-5.88
0
-16.74

292.8114229
0
292.8114229
-85.3540448
0
24.55638237
0
-92.8909953
0
-60.0215131

Other Manufacturing Expenses

-40.57

-4.56227158

327.88

57.32969646

-0.01

-2.63157895

Selling and Admin Expenses

-90.88

-37.7330289

32.66

61.51817668

13.76

65.1206815

Miscellaneous Expenses

6.27

15.15224746

1.41

19.83122363

-0.37

-15.2892562

0
-125.78
734.78
1,061.73
439.46
622.27
3.72
8.93
609.62

0
-9.96687745
70.30714764
54.34568963
51.86960011
56.24175268
2.951209837
21.53363878
64.92917244

0
-9.24
128.18
43.56
1.14
42.42
0.12
0
42.3

0
-15.8899398
-731.203651
53.37581179
2.146892655
148.7898983
4.12371134
0
165.234375

Extra-ordinary items

28.15

1400.497512

-21.29

-95.470852

-1.29

-98.4732824

PBT (Post Extra-ord Items)


Tax
Reported Net Profit

637.77
133.34
504.52

67.78225335
75.88640373
65.94515463

-18.30
9.99
-28.26

-18.3403488
111
-31.1336345

41.01
17.64
23.37

152.3968785
394.6308725
104.144385

Total Value Addition

-125.80

-9.96846226

348.37

55.80884944

-3.36

-6.48398302

Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)

0
0.03
-11.38
0.00

0
0.008837045
-100
0

0.00
0
0.00
0

0
0
0
0

-6.86
12.07
0.79
0

-100
0
67.52136752
0

Shares in issue (lakhs)

1.81

0.010663424

0.00

7.03

0.175076394

Earning Per Share (Rs)

2.97

65.85365854

-1.63

-31.166348

0.75

192.3076923

Equity Dividend (%)


Book Value (Rs)

0
5.76

0
7.620055563

0.00
3.52

0
4.429901837

15
-12.06

0
-7.54976837

Income

Preoperative Exp Capitalised


Total Expenses
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax

-27.39
348.37
-2.25
2.93
-0.07
3
0.01
0
2.99

95.20333681
55.80884944
-1.31771596
1.600043687
-0.06895193
3.676470588
0.242718447
0
3.859060403

COMMON SIZE BALANCE SHEET


Balance Sheet

DLF
Mar '11
12 mths

Mar '10
12 mths

Common Size Percentage


OMAXE
Indiabulls Real Estate
Mar '11
Mar '10
Mar '11
12 mths
12 mths
12 mths

Mar '10
12 mths

Sources Of Funds
Total Share Capital
Equity Share Capital

1.18%
1.18%

1.33%
1.33%

6.36%
6.36%

5.90%
5.90%

1.05%
1.05%

1.23%
1.23%

Share Application Money

0.00%

0.00%

0.00%

0.00%

1.43%

0.00%

Preference Share Capital


Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities

0.00%
46.66%
0.00%
47.84%
50.92%
1.24%
52.16%
100.00%

0.00%
49.04%
0.00%
50.38%
45.51%
4.11%
49.62%
100.00%

0.00%
46.44%
0.00%
52.81%
43.93%
3.26%
47.19%
100.00%

0.00%
40.97%
0.00%
46.87%
50.90%
2.23%
53.13%
100.00%

0.00%
76.62%
0.00%
79.10%
19.22%
1.67%
20.90%
100.00%

0.00%
97.05%
0.00%
98.28%
0.01%
1.71%
1.72%
100.00%

Application Of Funds
Gross Block

7.42%

7.86%

1.97%

1.73%

0.35%

0.38%

Less: Accum. Depreciation


Net Block

1.39%
6.04%

1.08%
6.79%

0.96%
1.01%

0.89%
0.83%

0.15%
0.20%

0.13%
0.26%

Capital Work in Progress


Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits

7.62%
24.38%
29.06%
0.94%
0.46%
30.46%
53.40%
0.15%

6.75%
25.75%
25.65%
2.39%
0.15%
28.19%
45.67%
0.52%

0.06%
9.73%
76.97%
12.73%
1.53%
91.23%
31.84%
3.47%

0.01%
9.01%
77.77%
5.45%
2.11%
85.33%
29.90%
2.97%

0.01%
34.43%
0.17%
0.43%
0.43%
1.03%
64.41%
0.43%

0.00%
52.51%
0.00%
0.16%
0.01%
0.16%
45.21%
2.38%

Total CA, Loans & Advances


Deffered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets

84.00%
0.00%
18.68%
3.35%
22.03%
61.97%

74.39%
0.00%
8.04%
5.64%
13.68%
60.71%

126.54%
0.00%
37.11%
0.24%
37.35%
89.19%

118.20%
0.00%
27.87%
0.18%
28.05%
90.15%

65.87%
0.00%
0.32%
0.19%
0.51%
65.36%

47.75%
0.00%
0.50%
0.01%
0.52%
47.23%

0.00%
100.00%

0.00%
100.00%

0.00%
100.00%

0.00%
100.00%

0.00%
100.00%

0.00%
100.00%

Miscellaneous Expenses
Total Assets

IndiaBulls:
Very strong market position with figures on a positive rise.
Gaining market quickly with high investments
DLF :
Current Market leader with Increase in inflow from operating activities.
Paid dividends and dues which are reflected in the financial activity
Omaxe Ltd. :
Increase in the profits & investment of the co. after two years.
Started investing again after paying off major dues in FY08.
Conclusion:
Real estate still on a rise & Co. would pay off well if invested.

RATIO ANALYSIS

DLF
2011
Current ratio
Quick ratio

Operating Profit ratio


Net Profit ratio
Return on Net Worth
Fixed asset Turnover Ratio
Total asset turnover Ratio
Debtors Turnover Ratio
Debt Equity Ratio
Long term debt equity Ratio
Interest Coverage Ratio
Earnings Per Share
Dividend Per Share

OMAXE
2010

2011

Indiabulls

2010

2011

2010

3.51

5.03

2.76

2.88

3.26

0.32

2.49

3.56

1.32

1.43

128.87

92.27

61.03

45.29

14.76

21.47

69.34

-43.15

31.37

23.87

5.39

11.24

26.36

16.05

9.19

5.96

4.33

6.58

0.77

0.24

21.76

15.83

0.12

0.11

0.42

0.27

6.64

5.62

4.49

6.98

7.35

3.89

1.09

0.99

0.89

1.13

0.27

0.02

1.07

0.97

0.78

0.97

0.27

0.02

2.40

2.45

1.95

1.91

2.28

1.48

7.48

4.51

3.6

5.23

1.14

0.39

0.3

Thank You..

Presented By:
SAMEEP VERMA
SANDIP KEJRIWAL
SHAILESH GUPTA
SACHIN JAIN
DHAVAL SHAH
TAPAN MEHTA