Hemisphere Properties India Ltd

About

The company was formed as part of the disinvestment exercise carried out by the Government of India in respect of its holdings in the erstwhile VSNL (currently known as Tata Communications Limited).

The company currently owns or have access to 739.69 acres of land, transferred to our Company in terms of the Scheme of Arrangement. The Surplus Land has been transferred as a part of the overall scheme of disinvestment of the erstwhile Videsh Sanchar Nigam Limited. Upon completion of the transfer, the Company will seek to develop and/or transfer the Surplus Land in accordance with the policies of the Ministry of Housing and Urban Affairs and our management.[1]

Key Points

Land Parcels [1]
Company has land parcels of around 740 acre across four major cities - Delhi (Greater Kailash: 69.46 acre, Chattarpur: 58 acre), Pune (524 acre), Chennai (53.04 acre) and Kolkata (35.19 acre).

Except for two land parcels (Chattarpur and Kolkata), the rest are tied up in litigation. Further, years of ignorance has led to encroachment of land parcels as well. Almost 70 per cent of the land (524 acre) is in Pune, adjacent to the Defence establishment. Developing this property may require clearances from the Ministry of Defence which may delay the execution work.

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  • Market Cap 3,728 Cr.
  • Current Price 131
  • High / Low 202 / 63.4
  • Stock P/E
  • Book Value 12.4
  • Dividend Yield 0.00 %
  • ROCE -2.48 %
  • ROE -2.26 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 10.53 times its book value
  • Company has low interest coverage ratio.

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Figures in Rs. Crores

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.01 0.02 0.16 0.80 0.13 0.20 7.18 1.45 3.75
Operating Profit -0.01 -0.02 -0.16 -0.80 -0.13 -0.20 -7.18 -1.45 -3.75
OPM %
Other Income 0.01 0.04 0.04 0.04 0.02 0.02 0.29 0.30 0.26
Interest 0.01 0.07 0.07 0.07 0.07 0.06 1.12 1.20 1.39
Depreciation 0.00 0.00 0.68 0.20 0.21 0.21 0.21 0.21 0.00
Profit before tax -0.01 -0.05 -0.87 -1.03 -0.39 -0.45 -8.22 -2.56 -4.88
Tax % 0.00% 20.00% 25.29% 26.21% 25.64% 26.67% 26.03% 25.78% -10.45%
Net Profit -0.01 -0.04 -0.64 -0.77 -0.29 -0.33 -6.08 -1.89 -5.40
EPS in Rs -0.02 -0.03 -0.01 -0.01 -0.21 -0.07 -0.19

Profit & Loss

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
0 0 0 0 0 0 0
0 0 0 0 1 8 13
Operating Profit -0 -0 -0 -0 -1 -8 -13
OPM %
Other Income 0 0 0 0 0 0 1
Interest 0 0 0 0 0 1 4
Depreciation 0 0 0 0 0 1 1
Profit before tax 0 -0 -0 -0 -1 -10 -16
Tax % 0% 0% 13% 25% 26%
Net Profit 0 -0 -0 -0 -1 -7 -14
EPS in Rs -0.03 -0.26 -0.48
Dividend Payout % 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: %
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -687%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 108%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: -2%

Balance Sheet

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
0 0 0 0 285 285 285
Reserves -0 -0 -0 -0 -1 92 69
Borrowings 1 1 1 1 4 41 57
0 0 0 0 1 661 661
Total Liabilities 1 1 1 1 289 1,079 1,071
0 0 0 0 282 933 942
CWIP 0 0 1 1 1 0 0
Investments 0 0 0 0 0 0 0
1 1 1 0 6 145 130
Total Assets 1 1 1 1 289 1,079 1,071

Cash Flows

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0 -0 0 -0 -281 651
0 -0 -0 0 -0 -650
1 0 -0 -0 284 135
Net Cash Flow 1 -0 -0 -0 3 136

Ratios

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days
Inventory Days
Days Payable
Cash Conversion Cycle
Working Capital Days
ROCE % 4% 2% -11% -1% -2%

Shareholding Pattern

Numbers in percentages

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
26.12 51.12 51.12 51.12 51.12
18.16 9.71 5.44 4.10 4.15
1.45 1.17 0.90 0.73 0.73
0.27 0.27 0.27 0.00 0.00
54.00 37.73 42.27 44.05 43.99

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