PropEquity (PROPEQUITY) Q4 21/22 earnings summary

Executive summary

• FY22 revenue from operations grew 33% YoY to ₹2,390.62 lakh; EBITDA rose 35% to ₹1,259.90 lakh and PAT increased 39% to ₹931.11 lakh.

• The NSE SME Emerge IPO was described as highly successful, with retail subscription of 60x and HNI subscription above 130x; shares listed on 4 April 2022.

• The data and analytics platform covers 44 cities, 14+ years of historical data, 140,462 projects and 38,134 developers; institutional clientele exceeds 175.

Financial highlights

• Standalone operating revenue rose to ₹2,390.62 lakh from ₹1,801.25 lakh; total income reached ₹2,570.36 lakh vs ₹1,943.94 lakh in FY21.

• EBITDA increased to ₹1,259.90 lakh from ₹930.04 lakh; PAT advanced to ₹931.11 lakh from ₹671.19 lakh.

• Basic and diluted EPS were both ₹10.67 vs ₹7.73 in FY21; previous-year EPS was adjusted for the bonus issue.

• Consolidated revenue was ₹2,400.89 lakh and consolidated PAT ₹938.52 lakh; subsidiary Propedge Valuations contributed ₹10.27 lakh revenue and ₹7.40 lakh PAT from acquisition on 6 Jan 2022.

Outlook and guidance

• Management expects Indian real estate supply and sales volumes to remain upbeat over the next two years and views the sector’s prospects optimistically.

• The stated growth opportunity includes analytics-market expansion over 2–3 years and a plan to reach a large share of developers in major metros by March 2023.

• FY23 sales volumes across major metros were expected to sustain, supported by improving ground-level indicators.