Page 39 - Kolte Patil AR 2019-20

land monetisation of ~5.42 acres unaddressed, creating robust Big numbers of Life Republic
of Sector R10 of Life Republic for multi-year property development
C91 Crore. This land parcel in and revenue visibility. Life Republic 5.82
Sector R10 enjoys a residential was home to 11,000 residents by
development potential of 7.6 Lakh the year under review and another Msf, Sales until FY20
sq ft of saleable area and will 10,000 residents could be added in
be developed by the Company next three years.
and Planet Smart City through 4.33
a profit-sharing model. This is Outlook
a unique deal likely to generate The 390-acre Life Republic is Msf, Under approval and ongoing
land monetisation benefits and expected to catalyse the Company’s
profit sharing cash flows from the revenue, profits and cash flows
across 12-15 years. Within a year
incremental planned development, of the buyout of economic interest, 10.35
strengthening returns.
the project achieved multi-year
The deal significantly re-rates the sustainability. The Company Msf, under land bank
project’s valuation and provides generated more than 1 msf in sales
a dependable benchmark for in successive years, validating
prospective monetisation. 1.7
its long-term momentum. The
FY20 review Company will focus on the Total FSI potential in Life Republic
KPDL marketed 1.05 msf in Life progressive liquidation of its
inventory to the extent the market
Republic during the last financial can bear without compromising
year. The Company delivered 270 realisations. The total saleable 1.0
completed apartments during the area of ~20 million square feet is
year. Based on the sales made in based on an FSI of 1.0; however, the FSI on which current potential has
the last financial, year, a large total FSI potential of the project is been based
quantum of the development 1.7 based on integrated township
potential of the property remained
norms. Strengthening value from Life Republic
Parameter FY17 FY18 FY19 FY20
KPDL’s growing economic interest Sales value 165 156 435 508
(C Crore)
45 60 Growing throughput from Life Republic

% KPDL’s economic interest % KPDL’s economic interest Parameter FY17 FY18 FY19 FY20
in Life Republic, FY19 across all projects, FY19 Sales area 0.32 0.34 0.90 1.05
(Msf)
95 90 Growing weightage of Life Republic
Parameter
FY17
FY19
FY20
FY18
Life 13.5 13.0 30.4 38.7
% KPDL’s economic interest % KPDL’s economic interest Republic
sales value
in Life Republic, FY20 across all projects, FY20 as % of the
Company’s
sales value
Generating value from Life Republic
Perspective
Positioned as Designed, “Life Republic is a landmark destination
Acquired 390-acre
1.7 a township marketed, in western Pune with best-in-class
Life Property in
with multi-year
constructed and
physical and social infrastructure, enjoys
FY07
development
Total FSI potential in Life Republic delivered the first strong launch visibility and is attracting
phase
potential
growing buyer interest. Besides, Pune is
growing in importance as a commercial
centre with widening real estate
Enhanced the recall demand from end-users employed in IT,
of Life Republic as the Bought out KPDL now automobiles, manufacturing, biotech
future of integrated, economic interests positioned to and other sectors. In view of this, we
balanced and of external capitalise most foresee Life Republic contributing
community-centric stakeholders in the comprehensively
gated living property on Life Republic significantly to our multi-year financial
upsides performance.” – Gopal Sarda, Group
CEO
Annual Report 2019-20 | 37