MIRA INFORM REPORT

Report Date :

01.02.2007

IDENTIFICATION DETAILS

Name :	PRESTIGE BLUE CHIP – DIVISION OF PRESTIGE ESTATES AND PROJECTS PRIVATE LIMITED
Registered Office :	The Falcon House, No. 1, Main Guard Cross Road, Bangalore - 560 001, Karnataka
Country :	India
Financials (as on) :	31.03.2005
Date of Incorporation :	04.06.1997
Com. Reg. No.:	08-22322
CIN No.: [Company Identification No.]	U07010KA1997PTC022322
TAN No.: [Tax Deduction & Collection Account No.]	BLRP01504G
Legal Form :	Private Limited Liability Company.
Line of Business :	Subject is engaged in the business of Real estate / property development, retail property management, civil engineering and construction projects.

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 2500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having fine track. Trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms. It can be regarded as a promising business partner in a medium to long-run.

LOCATIONS

Registered/Head Office :	The Falcon House, No. 1, Main Guard Cross Road, Bangalore - 560 001, Karnataka, India
Tel. No.:	91-80-25591080
Fax No.:	91-80-25591945
E-Mail :	properties@vsnl.com
Website :	http://www.prestigeconstructions.com
Area :	40000 sq. ft.
Location :	Owned
Office	Hosur Road, Bangalore – 560029, Karnataka
Tel. No.:	91-80-2067086/41106403
Mobile No.:	91-9880010593
Branches :	CHENNAI Citi Towers, 7^th Floor, 117, Thiagaraja Road, T. Nagar, Chennai-600 017 Tel No. : 91-44-2815 4088 KOCHI Unit No. 32, Bay Pride Mall, Marine Drive, Kochi – 682031 Tel No. : 91-484- 4030000/4025555. E-mail: cochin@prestigeconstructions.com HYDERABAD DUBAI

DIRECTORS

Name :	Mr. Irfan Razack
Designation :	Managing Director
Address :	21/22-23 Car G Park, Layout, M G Road, Bangalore – 560001, Karnataka, India
Date of Birth/Age :	30.10.1953
Qualification:	B. Com
Date of Appointment :	04.06.1997
Name :	Rezwan Rezack
Designation :	Joint Managing Director
Address :	37/18, Vellappa Chetty, Layout, M G Road, Bangalore – 560001, Karnataka, India
Date of Birth/Age :	10.02.1955
Date of Appointment :	04.05.1997
Name :	Ndaman Razack
Designation :	Whole time Director
Address :	21/22-25 Car G Park, Layout, M G Road, Bangalore – 560001, Karnataka, India
Date of Birth/Age :	14.12.1957
Date of Appointment :	04.06.1997
Name :	Ms. Sameera Noaman
Designation :	Whole time Director
Address :	21/22-25 Car G Park, Layout, M G Road, Bangalore – 560001, Karnataka, India
Date of Birth/Age :	11.12.1983
Date of Appointment :	10.06.1997
Name :	Mr. Badrunissa Irfan
Designation :	Whole time Director
Address :	21/22-23 Car G Park, Layout, M G Road, Bangalore – 560001, Karnataka, India
Date of Birth/Age :	02.05.1959
Date of Appointment :	04.12.1999
Name :	Mr. Almas Rezwan
Designation :	Whole time Director
Address :	37/18, Yellappa Chetty, Layout, Bangalore – 560042, Karnataka, India
Date of Birth/Age :	05.12.1958
Date of Appointment :	01.10.2000

KEY EXECUTIVES

Name :	Mr. Swaroop Anish
Designation :	Vice President Business Development
Name :	Mr. V. Gopal
Designation :	Vice President Projects and Planning
Name :	Mr. VVBS Sharma
Designation :	Vice President Finance
Name :	Mr. Arvind Pai
Designation :	Vice President Legal
Name :	Ms. Uzma Irfan
Name :	Mr. Nayeem Noor
Designation :	Vice President Public Relations
Name :	Ms. Asha Vasan
Designation :	General Manager Customer Relations
Name :	Zaid Sadiq
Name :	Lt. Col Sree Kumar P M
Designation :	Vice President Property Management
Name :	Mr. M Sooryakanth
Designation :	Vice President HR and Administration
Name :	Mr. Ravi Rao
Designation :	President
Name :	Mr. Stanley Berlin
Designation :	General Manager -Projects
Name :	Mr. Susil Dungarwal
Designation :	Head Retail
Name :	Mr. Neeraj Duggal
Designation :	Vice President – Retail Infrastructure
Name :	Mr. Thankachan Thomas
Designation :	Head Kochi
Name :	Mr. Ashok Sapru
Designation :	Vice President – Project
Name :	Mr. Kumar Swamy V.
Designation :	Vice President – Projects
Name :	Mr. K. B. Srinivasu
Designation :	Vice President – Projects
Name :	Mr. Shivaprasad Naik
Designation :	Vice President – Corporate Finance and Accounts

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
Irfan Razack	2343750
Rezwan Razack	2343750
Noaman Razack	2343750
Sameera Noaman	781250
Rabia Razak	3125000
Badrunnisa Irfan	781250
Almas Rezwan	781250
Total	12500000

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of Real estate / property development, retail property management, civil engineering and construction projects.

Products :

Description of Services	ITC Code No
Real Estate Development	264104005

Terms :

Selling :

As per Lease Agreement

Purchasing :

As per Supplier Terms

GENERAL INFORMATION

Suppliers :	Associated Cement Company, India Steel Authority of India Limited, Bangalore Torsteel, Chennai Lucent Technologies, India Tarapore and Company, India Kajaria Jaguar L & T Alufit India Private Limited
Customers :	ABN AMRO Bank N.V. Andale Information Technologies Private Limited APC Austin Medicals Solutions Private Limited BBC Worldwide British Deputy High Commission British Library Calyon Bank, Corporate and Investment Bank Caterpillar India Private Limited Caterpillar Logistics Services India Private Limited Celstream Technologies Private Limited Cerner Health Care Solutions Private Limited Cisco Systems India Private Limited Citibank, N. A., Global Consumer Bank Colliers International (India) Property Services Private Limited Commerce Velocity India Private Limited CPG Consultants India Private Limited Cyberwerx Software Solutions Private Limited DHL Worldwide Express DSP Merrill Lynch DVS Electronics Private Limited Elken International India Private Limited Emirates Export Valaandeerem Frost & Sullivan Genesys Intl. Corp Globus India Private Limited GoRemote Google Online India Private Limited H & M International HDFC Limited Hewlett Packard India Software Operations Private Limited Hutchinson Essar South Limited IBM India Limited ICICI Lombard ICICI Ventures Funds Management Company Limited IFMA Infinera India Private Limited Interwoven Software Services India Private Limited IP Value Intellectual Property Services India Private Limited Itellix JP Morgan Chase Ketera Software India Private Limited Kodiak Networks Liquid Krystal Mach India Private Limited Magma Design Automation India Private Limited Marks & Spencer Mast Industries (Far East) Limited Megabowl Private Limited Mentor Graphics (Sales & Services) Private Limited Microsoft Research India Private Limited Mindteck Montronix
No. of Employees :	150
Bankers :	Lakshmi Vilas Bank, Cantonment Branch, Bangalore – 560001 ICICI Bank, Bangalore – 560025 ABN Amro Bank N. V., Prestige Flower, 9/100, Residency Road, Bangalore - 560025Citi Bank, M G Road, Bangalore HDFC Bank, Kasturba Road, Bangalore – 56001 ING Vysya Bank Limited, M G Road, Bangalore – 560001 Jpmorgan Chase Bank National Association, Maftlal Centre, 9^th Floor, Nariman Point, Mumbai – 400021, India Sushil.dsa@jpmorgan.com Citi Bank, M G Road, Bangalore

Banking Relations :	--
Auditors :	Mark D’ Souza and Company Chartered Accountants 201, Brigade Gardens, 19, Church Street, Bangalore – 560001, Karnataka, India
Tel No.:	91-80-25588080 / 25581245
Fax No.:	91-80-25591323
Email :	mark@markdsouza.com
Website :	http://www.markdsouza.com
Associates/Subsidiaries :	Prestige Estates Projects (Private) Limited Prestige Gardens Constructions (Private) Limited Prestige Constructions Prestige Garden Resorts (Private) Limited West Palm Developments (Private) Limited Cessna Garden Developers (Private) Limited Prestige Valley View Estates (Private) Limited I.C.B.I (India) (Private) Limited Prestige Leisure Resorts (Private) Limited Prestige Amusements (Private) Limited Prestige Property Management & Services Prestige Fashions (Private) Limited Morph Design Company

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs. 10/- each	Rs. 125.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs. 10/- each	Rs. 125.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2005	31.03.2004	31.03.2003
SHAREHOLDERS FUNDS
1] Share Capital		125.000	125.000	125.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		544.588	323.338	215.414
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		669.588	448.338	340.414
LOAN FUNDS
1] Secured Loans		874.733	720.216	249.465
2] Unsecured Loans		310.687	303.912	418.772
TOTAL BORROWING		1185.420	1024.128	668.237
DEFERRED TAX LIABILITIES			7.816	7.002
TOTAL		1855.008	1480.282	1015.653
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1681.363	1735.082	431.362
Capital work-in-progress		2987.210	0.000	0.000
INVESTMENT		1023.068	349.901	313.587
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	114.104	1733.859	1829.351
	Sundry Debtors	269.008	663.012	440.359
	Cash & Bank Balances	155.882	57.411	38.376
	Other Current Assets	0.081	0.054	5.587
	Loans & Advances	910.410	180.355	48.808
Total Current Assets		1449.485	2634.691	2362.481
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	5081.158	2658.011	1942.852
	Provisions	205.089	581.574	149.181
Total Current Liabilities		5286.247	3239.585	2092.033
Net Current Assets		[3836.762]	[604.894]	270.448
MISCELLANEOUS EXPENSES		0.129	0.193	0.256
TOTAL		1855.008	1480.282	1015.653

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2005	31.03.2004	31.03.2003
Sales Turnover [including other income]	3574.795	2150.246	1355.948
Profit/(Loss) Before Tax	332.904	161.193	203.875
Provision for Taxation	104.946	54.329	191.026
Profit/(Loss) After Tax	227.958	106.864	12.849
Export Value	45.050	599.100	11.000
Import Value	NA	24.600	3.600
Total Expenditure	3241.891	1989.054	1152.073

KEY RATIOS

PARTICULARS		31.03.2005	31.03.2004	31.03.2003
PAT / Total Income	(%)	6.38	4.97	0.95
Net Profit Margin (PBT/Sales)	(%)	9.31	7.50	15.04
Return on Total Assets (PBT/Total Assets}	(%)	10.63	3.69	7.30
Return on Investment (ROI) (PBT/Networth)		0.50	0.36	0.60
Debt Equity Ratio (Total Liability/Networth)		9.67	9.51	8.11
Current Ratio (Current Asset/Current Liability)		0.27	0.81	1.13

LOCAL AGENCY FURTHER INFORMATION

Business

Prestige Blue Chip is a Softwear Techno Park housing the following companies

Oracle

Andale

Hutch

Transworks

Celstream

The Software Tech Park was construction about 6 years back by Prestige Group and being managed by Prestige Property management services – a division of the Prestige Group. The total area of the park is around of the park is around 0.500 Millions Sq. ft. It is a state of the art facility with the required infrastructures such as Dgsets/ Parking Lots/ and related requirements

Prestige Constructions Division looks after the Civil Engineering and constructions projects of the Group. Main activity of the Group is Real Estate, Builders and Development of Properties, Prestige Group has completed over = 120 Developments to an extent of over 10 million sft of commercial and residential area.

Direct imports as well as by clients as per requirements from global markets.

Corporate identity number of the company	U07010KA1997PTC022322
Name of the company	PRESTIGE ESTATES AND PROJECTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	303 Copoper Archinfantry Road, Bangalore – 560001, Karnataka, India
This form is for	Creation of charge
Type of charge	Equitable mortgage or mortgage of property by depositing the title deeds
Particular of charge holder	Infrastructure Leasing an Financial Services Limited The IL and FS Financial Centre Plot No C – 22 G Block Bandra – Kurla Complex Mumbai – 400051, Maharashtra, India u.nandkumar@ilfsindia.com
Nature of instrument creating charge	No instrument was executed but on 04.04.2006 a mortgage was created by Presting Estate Project Private Limited in favour of IL and FS by deposit of title deeds with IL and FS in respect of companies immovable properties situated as survey no 843 Ernakulam Village, Ernakulam Dist. Kanauyannur, Cochin corporation Kerela by way of deposit of title deeds .
Date of instrument Creating the charge	04.04.2006
Amount secured by the charge	Rs. 350.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	The company covenants to repay the said term loan and pay interest and all other monies in the manner set out in the term finance agreement entered into between the company and IL and FS and to comply with the terms and conditions of the said term finance agreement.
Description of the property charged indicating whether it is a charge on	Immovable properties
Particulars of the property charged	All that piece and parcel of land comprised in as survey no 843 Ernakulam Village, Ernakulam Dist. Kanauyannur, Cochin corporation Kerela adm 550.25 % out of the total textent of 25 hetctares in terms of the tender notification no 242/05 dated 10.01.2005

Corporate identity number of the company	U07010KA1997PTC022322
Name of the company	PRESTIGE ESTATES AND PROJECTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	303 Copoper Archinfantry Road, Bangalore – 560001, Karnataka, India
This form is for	Creation of charge
Type of charge	Equitable mortgage or mortgage of property by depositing the title deeds
Particular of charge holder	Infrastructure Leasing an Financial Services Limited The IL and FS Financial Centre Plot No C – 22 G Block Bandra – Kurla Complex Mumbai – 400051, Maharashtra, India u.nandkumar@ilfsindia.com
Nature of instrument creating charge	No instrument was executed but on 15.06.2006 a mortgage was created by Presting Estate Project Private Limited in favour of IL and FS by deposit of title deeds with IL and FS in respect of companies immovable properties situated as survey no 843 Ernakulam Village, Ernakulam Dist. Kanauyannur, Cochin corporation Kerela by way of deposit of title deeds .
Date of instrument Creating the charge	15.06.2006
Amount secured by the charge	Rs. 150.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	In consideration of IL and FS having agreed to lend and advance and advanced to the company, a rupee term loan of Rs. 150 millions the properties of the company situate at Ernakulam Village, Ernakulam Dist. Kanauyannur, Cochin corporation Kerela were thereby mortgaged and charged by the company to IL and FS, as and by way of first charge as a security for the due repayment of the rupee term loan together with all the interest, liquidated damages, costs charges and other expenses payable by Prestige Estates And Projects Private Limited
Description of the property charged indicating whether it is a charge on	Immovable properties
Particulars of the property charged	All that piece and parcel of land comprised in as survey no 843 Ernakulam Village, Ernakulam Dist. Kanauyannur, Cochin corporation Kerela adm 550.25 % out of the total textent of 25 hetctares in terms of the tender notification no 242/05 dated 10.01.2005 bounded on the North by Backwaters to an extent of 265.3 mtrs with retaining wall, South by land belonging to GIDA along the VIPIN Bridge and approach road to an extent of 145.8 mtrs. East by common road.

Corporate identity number of the company	U07010KA1997PTC022322
Name of the company	PRESTIGE ESTATES AND PROJECTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	303 Copoper Archinfantry Road, Bangalore – 560001, Karnataka, India
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Jpmorgan Chase Bank National Association Maftlal Centre, 9^th Floor, Nariman Point, Mumbai – 400021, India Sushil.dsa@jpmorgan.com
Nature of instrument creating charge	Loan agreement dated 16.12.2006 and no separate instrument was executed for creation of mortgage, charge was created by way of deposit of title deeds.
Date of instrument Creating the charge	16.12.2006
Amount secured by the charge	Rs. 1418.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest : Compounded interest of 12.25 %% p.a. with monthly rests payable monthly in arrears. Terms of repayable : Tenure of the loan shall be for a period of 18 months form the drawdown date, with an option to renew for a further period of 18 months Loan shall be repaid at the end of the tenure . Extent and operation of the charge : The charge will be for the amount of loan, interest thereon, expenses, charges and other obligations of the borrower under the agreement.
Short particulars of the property charged	First charge on the property situated at Mysore, details of which are more fully described in the loan agreement. Immovable properties comprised in the forum, hosur road, Bangalore Immovable properties comprised in graphite India Immovable property comprised in notting hill investments.

Name of the company	PRESTIGE ESTATES AND PROJECTS PRIVATE LIMITED
Presented By	ABN AMRO BANK, RESIDENCY ROAD, BANGALORE AND PRESTIGE ESTATES AND PROJECTS PRIVATE LIMITED
1) Date and description of instrument creating the change	Date : 06.01.2006 Facility cum hypothecation agreement
2) Amount secured by the charge/amount owing on the securities of charge	INR One Billion Only
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation by way of first charge of the all the book debts of the borrower and all other movable assets of the borrower including work in progress and all other tangible movable, properties of the borrower such as raw materials, stock, spares, semi finished and finished goods, good in process of manufacture and all goods manufactured there from all such properties which now are or hereafter form time to time during the subsistence of the security hereby created by brought in or stored in or about or the company factories, premises warehouses and godowns including any such goods in the course of transit or delivery.
4) Gist of the terms and conditions and extent and operation of the charge.	The above book debts, assets, stock hypothecation by way of first charge as security for the payment by the company to the bank upto INR 1000.000 millions The company shall pay all rents, rates, taxes outgoing and other charges in respect of godowns and other premises in which the hypothecated assets are stored or may be kept. This agreement and the security hereby created shall operate as a continuing security for all the obligations of the company in respect of the banking facilities notwithstanding the existence of a credit balance in the said account of any partial payment of fluctuation of account.
5) Name and Address and description of the person entitled to the charge.	ABN Amro Bank N. V., Prestige Flower, 9/100, Residency Road, Bangalore - 560025
6) Date and brief description of instrument modifying the charge	--
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	--

As per website

History Unfolds Itself

Beginning with a retail store and growing to become one of the most trusted names in real estate- the Prestige Group has come a long way. 

It was one man's dream, his grit and foresight that laid the firm foundations of Prestige, way back in 1956. Mr. Razack Sattar - the visionary who glimpsed what others would comprehend many years later and the founder of what is today the Prestige Group of Companies. The grand old man of retailing, endowed with unmatched business acumen, sowed the seeds of high quality retailing in Bangalore with Prestige Fashions on Commercial Street. Having started with custom tailoring and retailing ready-to-wear garments, the company today scores skylines with innumerable impressive constructions. A success story truly made possible by the founder's progeny - Irfan, Rezwan, Noaman and Anjum, the group has been groomed into great leaders who continue to uphold the Prestige vision.

Spreading the falcon's wings

They moved into the sphere of property development with Prestige Court (KH Road, Bangalore) in 1985-86. The last decade saw the Prestige Group strengthening its pillars of trust, quality and credibility, thereby leaving an indelible mark on the skyline of Bangalore and its people, as one of the leading developers of South India. And as the scorecard proudly reads today - over 120 developments completed, encompassing more than 10 million sq.ft. of commercial and residential area - it's proof that there's no looking back for Prestige. Several developments in the pipeline include noted developments like UB cITy, Prestige Shantiniketan as well as the Prestige Technology Park. What's more, they are also planning to spread out into other cities - with plans of a mall in Hyderabad, a residential development in Cochin, a technology park in Chennai and villas in Goa.

Strengthening their promise

Today, as a real estate development company honoured with people's trust and credited with transforming the skyline of Bangalore, they at Prestige constantly strive for perfection. The ultimate aim is to exceed the expectations. A proof of their efforts - they are the only builders to get a reaffirmation of the Crisil DA1 rating; they have also become an ISO 9001:2000 certified company. They are also the only builders in Bangalore whose software and residential facilities have won the reputed FIABCI award. 

At present, their Rs. 3000 millions construction conglomerate is spearheaded by Irfan Razack and ably supported by Rezwan Razack. Noaman Razack, the youngest of the three brothers, looks after the retailing business. Faiz Rezwan, the son of Rezwan Razack has recently joined the board as a director and is already proving to be an asset to the company. 

Prestige Property Management and Services

Prestige Estates Projects (P) Limited is synonymous with quality and style. Considered one of the best real estate developers of Bangalore, they justly deserve their laurels. The Prestige Group has always believed in giving more than the best to their customers. In keeping with this philosophy, the group believes in maintaining the high quality of their projects even after the buildings have been handed over to their clients. With this end in mind they have set up a business entity that takes care of all Prestige properties post completion.

Prestige Property Management and Services was established as a separate business activity of the Prestige Group in 1996. The Prestige Property Management & Services team consists of professional and motivated staff spread over various properties developed by the Prestige Group. It has the highest number of employees under the Prestige Group, amounting to an 800 strong work force. Prestige, in fact, can be credited to be the first builders to come up with a dedicated work force specially assigned for post construction care.

Today the users ask for not just space but also aesthetics and building efficiency. In this respect builders nowadays are creating intelligent homes, those that seem to be tailor made to meet consumers' requirements at all points of time. Another important factor that builders have to keep in mind is that today's needs are spread over a wide spectrum. On one hand it is about safety, automation for speed and efficiency and an integration of all building systems under a centralized control system to ensure the smooth functioning of all in-house facilities. On the other hand, in this age of anti-pollution and green peace drives there is a requirement for houses to be environment friendly.

The Property Management team consists of highly skilled workers who are specially trained to maintain the impeccable standards that are the hallmark of all Prestige developments. Using state-of-the-art equipment, they make sure that all aspects of the properties they handle are in mint condition and that all the said and unsaid needs of the inmates of the buildings are met.

The team is committed to deliver professional building management and services using ultra modern technology to cover the following aspects to the best satisfaction of the customer:

Safe and secure premises

Clean and pleasing environment

Hassle free upkeep and maintenance

Civil and electrical maintenance of the property

Landscape and garden maintenance

Swimming pool and health club

Facility management

The real challenge for the Property Management team lies in customizing their maintenance processes to suit the varying needs of the diverse range of developments that Prestige creates - be it a high rise complex housing MNCs, residential apartments with beautifully landscaped grounds, sprawling luxurious villas or shopping malls of international standards.

They were the undisputed stars of the Independence Day Horticultural Show organized by the Mysore Horticultural Society. The breathtaking landscapes that are an inevitable accompaniment of all Prestige properties lived up to their reputation by winning a plethora of awards. This is ample recognition of the dedication and good work done by the Property Management and Services team. It is small wonder then, that this team is one of the most sought after in their field in Bangalore, setting standards in world class property care.  

In 1986 the Prestige Group diversified into property development. Today the Prestige brand has come to signify some of the city's landmark buildings. 

"Take a right turn at Prestige Acropolis..." 

Today quite a few of the properties developed by Prestige have become landmarks in their own right; and that too in a city which abounds in beautiful edifices. The repertoire of completed developments of the Prestige Group span the residential, commercial and hospitality space.

Some celebrated residential projects such as Prestige Acropolis, Prestige Greenwoods, Prestige Elgin, Prestige Monte Carlo, Prestige Langleigh, Prestige Dorchester, Prestige Cedars, Prestige Ozone, Prestige Exotica, Prestige St. John's Woods and Prestige Palms have been huge successes and have brought encomiums for the company. 

The sprawling, eye-catching commercial ventures like Angsana Oasis Spa and Resort, Prestige Opal, Prestige Obelisk, Prestige Meridian, Prestige Towers, Prestige Blue Chip Software Park, Prestige Sterling Square, Prestige Lexington Towers, Prestige EGK and The Forum stand out amongst run-of-the-mill commercial ventures by nature of their architectural innovativeness and grace. 

The ongoing projects include facilities for the Reliance Group, Hewlett Packard, the Prestige Technology Park (a stateof-the-art technology park), service apartments at UB cITy in association with Oakwood Worldwide, (the worlds largest service apartment managers), a tie-up with the internationally reputed Hilton to build Bangalore's first ever Hilton city hotel as well as their recently launched Prestige Shantiniketan, which will be an integrated township consisting of residential, office, retail and hospitality space of over 10 million sq.ft of built area and one of the most ambitious projects the city has ever witnessed. 

Over the years, Prestige's name has become synonymous with Bangalore's beauty.

Irfan Razack

Chairman & Managing Director 

With the qualities of leadership running through his veins, the conviction to do things differently, and the will to see his hard work bear fruit, Irfan Razack has successfully nurtured the Prestige sapling. And the result today is evident: the esteemed Prestige Group is one of Bangalore's most sought after and respected property developers. 

What sets this well-known industrialist apart from the rest is his ability to weave together his business with his philanthropic work. Hence, even while ensuring that the falcon's wings are spread far and wide he has not forgotten his social responsibilities. 

A commerce graduate, Irfan has instituted the Rotary Midtown Prestige Citizen Extraordinaire Award to honour citizens of Bangalore who have contributed to society in a big way. Currently the Hon. Secretary of the Al-Ameen Educational Society, he participates in the management of close to fifty institutions, graduate and post-graduate colleges. Irfan Razack is also the Co-founder & Chairman of Inventure Academy, an internationally benchmarked primary to secondary school, based in Bangalore. A past president of Rotary Midtown, Bangalore, he is still actively involved in the Rotary Club. He is also a Paul Harris Fellow. He has been the President for Bangalore Commercial Association(BCA), Karnataka Ownership Apartment Promoters Association (KOAPA) as well as a special invitee for the southern regional council of Confederation of Indian Industries (CII). 

He has attended a course by UNU/ILA, the United Nations University International's Leadership Academy in Jordan, and now shares his knowledge with budding leaders, both in the Prestige Group and beyond. 

A man with many facets, his exploits as an able leader go back to his youth when he was a student leader of St Joseph's College, Bangalore and the driving force behind many a laurel won by it. In recognition of his achievements the St. Joseph's Old Boys Association honoured him with the Life Time Achievement Award.

Rezwan Razack

Joint Managing Director 

Rezwan Razack, second son of Late S.Razack, grew up in Bangalore where his father handled his retailing business. A graduate from St. Joseph's College, he gained recognition in academics and extracurricular activities. He held the second rank in the state for his degree in Commerce. Rezwan is a paradigm of an unassuming bureaucrat in the business realm. Having over thirty years of business development experience, Rezwan spearheads the marketing strategy for the group. 

A philanthropist by nature, he has dedicated himself to co-ordinating the Terry Fox Run - a fund raising event in aid of cancer research in Bangalore. Rezwan is also a part of the Resident's Initiative for Safe Environment (RISE), a movement in Bangalore working towards creating a clean environment, free from garbage, for the benefit of the community. He is also known for his rare and unique collection of currency notes.

Noaman Razack

Director 

Noaman Razack, the youngest son of the late Razack Sattar, is the heir to the legacy of Prestige retailing and the Managing Director of Prestige Fashions (P) Limited He is a mentor and an inspirational figure to most young entrants in the field of retail and fashion. Like his brothers he shone in all fields, and was an exceptionally good sportsman who was known for his skill in games like hockey and soccer. Armed with an ambition to build up his existing family business, he joined business at an early age. His zeal and business acumen soon led to Prestige Fashions becoming a landmark in the field of fashion and style. The products on display are classic but modern in spirit, achieved through the use of exclusive fabrics, strong designs and manufacturing of the highest standards. This has resulted in an ever-expanding client base of Bangalore's who's who as well as high profile international customers. What was once a modest family enterprise is now one of the strongest pillars of the Prestige Group.

Faiz Rezwan

Director 

Faiz Rezwan, the son of Rezwan Razack, completed his primary and secondary education in Bangalore from Vidya Niketan and Canadian School of India, Bangalore. Thereafter, he went on to complete his Business Management from The King's College, London. On returning to India, Faiz underwent rigorous training in the various departments of Prestige Estates Projects (P) Limited, before going on to don his present mantle of Director-Procurement. Living up to his family reputation, Faiz made a mark in all aspects of the business. Be it in the adept handling of queries in the Marketing Department or the promotion and launch of landmark developments of the Prestige Group. Interested in every facet of the company, Faiz also underwent a brief training session at Atelier to experience the execution of fit-outs and keenly participated in implementing fit-outs for some prominent clients of the Prestige Group. His other significant contributions include introducing major brands to the Forum Mall in Koramangala and Eva Mall on Brigade Road. He was actively involved in the formation of the Inventure Academy - the first educational institution introduced by the Prestige Group - and is currently engrossed in planning and developing the Golf Course Project at the Angsana Oasis Spa and Resort. An avid golfer himself, Faiz is also fond of animals and likes adventure sports. His other interests include computers, sports, and social causes such as the Terry Fox Run for raising funds for cancer research, cultural activities, art, and nature camps etc.

Residential Projects

Prestige Kensington Gardens

RMV II Stage Extension, Bangalore.
Type: Residential Apartments
2 & 3 bedroom apartments in four blocks spread over 7.6 acres, equipped with amenities and recreational facilities.

Prestige Wellington Park
RMV II Stage Extension, Bangalore.
Type: Residential Apartments
2 & 3 bedroom apartments spread across 13 blocks
Amenities: Club house, swimming pool, health club, etc.

Prestige Neptune's Courtyard
Kochi.
Type: Residential Apartments
2, 3 & 4 bedroom apartments, Duplexes and Triplexes
Amenities: Sky Club, swimming pool, health club, etc.

Prestige Shantiniketan
Whitefield, Bangalore.
Type: Township
An exquisitely planned townscape spread across 105 verdant acres. This is the first time that a truly global lifestyle on a larger-than-life scale is being offered to Bangalore

Prestige Bougainvillea

E.C.C Road, Whitefield, Bangalore.
Type: Villa
Prestige Bougainvillea comprises of 40 , 3 & 4 bedroom\s duplex villas with private garden There are four types of villas with built area from 3688 to 4680 Sqft.

Prestige Andree Residences
Andree Road, Bangalore.
Type: Residential Apartments
A well planned apartment complex of 3 and 4 bedrooms, sizes varying from 2523 - 3496 sft.

CMT REPORT [Corruption, Money laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.17
UK Pound	1	Rs.86.66
Euro	1	Rs.57.25

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	8
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		57

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions