4Q FY2011/12 SGX-DBSV-REITAS Corporate Day 2018 Investor Presentation 7 September 2018 ASEAN Stars Conference 2012 1 March 2012 Asia’s First Listed Indian Property Trust Asia’s First Listed Indian Property Trust
Disclaimer This presentation on a- iTrust’s results for the quarter ended 30 June 2018 (“ 1Q FY18/19 ”) should be read in conjunction with a- iTrust’s quarterly results announcement, a copy of which is available on www.sgx.com or www.a- iTrust.com. This presentation may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other developments or companies, shifts in expected levels of property rental income and occupancy rate, changes in operating expenses (including employee wages, benefits and training, property expenses), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. Investors are cautioned not to place undue reliance on these forward-looking statements. All measurements of floor area are defined herein as “Super Built-up Area” or “SBA”, which is the sum of the floor area enclosed within the walls, the area occupied by the walls, and the common areas such as the lobbies, lift shafts, toilets and staircases of that property, and in respect of which rent is payable. The Indian Rupee and Singapore Dollar are defined herein as “INR/₹” and “ SGD/S$ ” respectively. Any discrepancy between individual amounts and total shown in this presentation is due to rounding. 2
Awards Singapore Corporate Awards (“SCA”) 2018 → Winner of “Gold Award” for Best Investor Relations (REITs & Business Trusts Category) About the award SCA is one of the most prestigious awards in Singapore’s corporate calendar that recognises and honours Singapore- listed companies which have helped to raise Singapore’s corporate governance and corporate disclosure standards. SCA is jointly organised by the Institute of Singapore Chartered Accountants, Singapore Institute of Directors and The Business Times, supported by the Accounting and Corporate Regulatory Authority and the Singapore Exchange. The Best Investor Relations award aims to recognise companies that embody the spirit of good corporate governance and corporate transparency by adopting and implementing best practices in investor relations. 3
Content • Overview 4 4
Introduction to a-iTrust Our presence Mumbai 7% Chennai Pune 22% 12% 12.6 million sq ft 1 of completed floor area Mumbai (Panvel) Pune Bangalore • Arshiya Hyderabad • BlueRidge 2 32% 27% Warehouses Bangalore Hyderabad • International Tech • The V Chennai Park Bangalore • CyberPearl 7% • aVance Biz Hub Chennai • International Tech 5.6 million sq ft Park Chennai of potential • CyberVale floor area Bangalore 1. There is a slight reduction in floor area due to the planned demolition 39% of Auriga building (0.2m sq ft) in The V as part of the redevelopment. Hyderabad 2. In-principle approval received to redevelop The V. Subject to final 54% 2 approval of the building permit from Multi Storey Building Committee. 5
World class IT parks and warehouses Our products Arshiya Warehouses Modern IT Parks built to international Modern warehouses with state of the specifications & standards. art technology. Award winning properties Grade-A specifications • • ITPB: 2012 FIABCI Prix d’Excellence Award Up to G+6 racked structure • Gold Winner, Industrial Category 13 metres ceiling height • M35 grade super flat floor • ITPC: 2013 FIABCI Prix d’Excellence Award • Advanced fire detection system and Gold Winner, Industrial Category security services 6
Key safeguarding provisions Our structure a-iTrust is a business trust that has voluntarily adopted the following SREIT restrictions: Adheres to Property Fund Appendix’s definition of allowable Permissible investment investments Invests at least 75% of the Trust property in income-producing Investment restriction real estate Development limit 20% of Trust property Distributable income Minimum 90% to be distributed Tax-exempt distributions Distributions exempt from Singapore tax Gearing limit 45% Corporate awards • Winner of “Gold Award” for Best Investor Relations (REITs & Business Trusts Category), Singapore Corporate Awards 2018 • Winner of “Fastest Growing Company”, “Most Profitable Company” and “Best in Sector” Awards (REIT category), The Edge Billion Dollar Club 2017 • Winner of "Most Transparent Company", New Issue Category • Merit winner of Singapore Corporate Governance Award twice 7
Ascendas-Singbridge Group Our sponsor • Ascendas-Singbridge Group undertakes urbanisation projects spanning townships, mixed- use developments and business/industrial parks. • The group has a substantial interest in, and also manages three Singapore-listed funds: • Ascendas Reit • Ascendas India Trust; and • Ascendas Hospitality Trust. • Ascendas-Singbridge is jointly owned by Temasek Holdings and JTC Corporation through a 51:49 partnership. • The group has projects in 28 cities across 9 countries in Asia, including Australia, China, India, Indonesia, Singapore and South Korea. 8
1Q FY18/19 results 1Q FY18/19 1Q FY17/18 Variance • Income from BlueRidge 2, Atria and Arshiya warehouses; SGD/INR FX rate 1 50.2 46.3 8.4% • Positive rental reversions; and • Partly offset by lower utilities income 6% ₹2,254m ₹2,134m with phasing out of Dedicated Power Total property income S$44.9m S$46.1m (3%) Plant (“DPP”) in ITPB. • Increase due to higher revenue and 20% ₹1,684m ₹1,408m Net property income lower utilities expenses with the S$33.6m S$30.4m 10% phasing out of DPP in ITPB. • Mainly due to net property income Income available for ₹925m ₹626m 48% growth and interest income from distribution S$18.4m S$13.5m 36% investments in AURUM IT SEZ and aVance 5 & 6. ₹833m ₹564m 48% Income to be distributed • After retaining 10% of income S$16.6m S$12.2m 36% available for distribution. Income to be distributed ₹0.80 ₹0.60 33% (DPU 2 ) 1.60¢ 1.31¢ 23% 1. Average exchange rates for the period. 2. Distribution per unit. 9
Consistent growth Our INR financial performance INR million 8,943 7,587 Total property income 6,784 6,108 5,774 5,540 4,899 4,182 12% CAGR 4,007 3,783 2,801 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 INR million 6,089 5,047 Net property income 4,415 3,681 3,450 3,165 14% CAGR 2,805 2,425 2,448 2,117 1,651 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 10
Consistent growth Our SGD financial performance S$ million 188.2 156.7 144.0 Total property income 128.8 127.5 126.3 120.9 121.5 120.7 118.1 102.7 6% CAGR FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 S$ million 128.1 104.2 Net property income 93.7 77.6 73.8 73.0 70.6 72.1 72.1 66.2 60.5 8% CAGR FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 11
Quarterly DPU since listing Change since listing INR/SGD exchange rate 2 DPU 1 (S¢) INR depreciation against SGD: -47% (Indexed) SGD DPU 3 : +21% 120 8.00 110 7.00 100 6.00 90 5.00 80 4.00 70 3.00 60 2.00 50 1.00 0.00 40 FY07/08 FY08/09 FY09/10 FY10/11 FY11/12 FY12/13 FY13/14 FY14/15 FY15/16 FY16/17 FY17/18 FY1819 FY18/19 1Q 2Q 3Q 4Q INR/SGD exchange rate 1. DPU (income available for distribution) refers to 100% of distributable income. 10% of distributable income was retained starting from 1Q FY12/13. 2. Average daily spot INR/SGD exchange rate for the period, pegged to 1 August 2007 using data sourced from Bloomberg. 3. 1Q FY18/19 DPU compared against 1Q FY07/08 DPU. 12
Content • Market review 13 13
Global IT powerhouse India’s IT industry Largest global IT Most cost competitive sourcing destination 1 IT sourcing destination 2 IT e ngineer’s salary India 55% 2 IT engineers in Singapore The salary of Rest of the 1 IT engineer in USA world is equivalent to 12 IT engineers in India 45% 1. Source: India Brand Equity Foundation. 2. Source: June 2018 median salary from PayScale (provider of global online compensation data), converted into USD from local currencies using exchange rate from Bloomberg (30 June 2018). 14
Office markets improving Hyderabad (IT Corridor I 1 ) Bangalore (Whitefield) 4.0 4.0 18.1% 17.5% 15.5% 16% 3.0 3.0 12.0% 12.0% 11% 2.0 2.0 7.2% 6.8% 6.2% 4.9% 6% 1.0 1.0 3.0% 0.0 0.0 1% CY 2014 CY 2015 CY 2016 CY 2017 2Q 2018 CY 2014 CY 2015 CY 2016 CY 2017 2Q 2018 Chennai (OMR) Pune (Hinjewadi) 3.0 2.0 9.0% 15.2% 7.0% 7.8% 11.5% 2.0 13.9% 9.9% 8.6% 1.0 3.3% 3.1% 1.0 0.0 0.0 CY 2014 CY 2015 CY 2016 CY 2017 2Q 2018 CY 2014 CY 2015 CY 2016 CY 2017 2Q 2018 Source: CBRE Research Supply (in million sq ft) Net Absorption (in million sq ft) Vacancy (%) 1. Includes Hitec City and Madhapur. 15
Content • Operational review 16 16
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