MIRA
INFORM REPORT
|
Report Date : |
05.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
UNITECH
CONSTRUCTION – DIVISION OF UNITECH LIMITED |
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Registered Office : |
6
Community Centre, Saket, New Delhi – 110017 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.07.1979 |
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Com. Reg. No.: |
55-9720 |
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CIN No.: [Company
Identification No.] |
L74899DL1979PLC009720 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELU01155A |
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Legal Form : |
Public Limited liability company. The company’s shares are listed on the
Stock Exchanges. |
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Line of Business : |
The
subject is engaged in construction business. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD
8750000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company and a part of Unitech Group. The company is progressing well. Directors
are reported as experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are usually correct and as per
commitments. Fundamentals
are strong and healthy. The
company can be considered normal for business dealings at usual trade terms
and conditions. The
company can be regarded as a promising business partner in a medium to
long-run. |
LOCATIONS
|
Registered Office : |
6
Community Centre, Saket, New Delhi – 110017, India |
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Tel. No.: |
91-11-41664040 |
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Fax No.: |
91-11-26857338 |
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E-Mail : |
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Website : |
http://www.unitechgroup.com |
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Branches
: |
Unitech Signature Towers, GF South City-I, NH-8, Gurgaon - 122001, Haryana Tel : 91-124-4082020 / 4086677 / 2383536 Fax : 91-124-4083355 P - 7, Sector - 18, Noida – 201301, Uttar Pradesh Tel : 91-120-2513609 / 3780 / 3776 Fax : 91-120-4348906 Bengal
Unitech Universal Infrastructure Private Limited Block ‘C’, 4th Floor, 22 Camac
Street, Kolkata- 700016 Tel : 91-33-2289 2000 / 64502000 Fax : 91-33-2289 1530 / 9831953407 Email : kolkata@unitechgroup.com |
DIRECTORS
|
Name : |
Mr.
Ramesh Chandra |
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Designation : |
Chairman
and Managing Director |
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Name : |
Mr. A.
S. Johar |
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Designation : |
Whole
Time Director |
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Name : |
Mr.
Minoti Bahri |
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Designation : |
Director
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Name : |
Mr.
Anil Harish |
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Designation : |
Director
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Name : |
Mr. P.
K. Mohanty |
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Designation : |
Director
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Name : |
Mr. Sanjay
Bahadur |
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Designation : |
Director
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Name : |
Mr. G.
R. Ambwani |
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Designation : |
Director
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Name : |
Mr.
Sanjay Chandra |
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Designation : |
Whole
Time Director |
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Name : |
Mr.
Ajay Chandra |
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Designation : |
Whole
Time Director |
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Name : |
Mr.
Ravinder Singhania |
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Designation : |
Director
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KEY EXECUTIVES
|
Name
: |
Mr.
Tarun V. Kotak |
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Designation
: |
Company
Secretary |
BUSINESS DETAILS
|
Line of Business : |
The
subject is engaged in construction business. |
GENERAL
INFORMATION
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No. of Employees : |
1133 |
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Bankers : |
Not Available
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Banking Relations : |
-- |
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Auditors : |
Goel
Garg & Company Chartered
Accountants |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1050000000 |
Equity
Shares |
Rs. 2/- each |
Rs. 2100.000 millions |
|
1000000 |
Preference
Shares |
Rs. 100/- each |
Rs. 100.000 millions |
|
|
TOTAL |
|
Rs. 2200.000
millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
12490000 |
Equity
Shares |
Rs. 10/- each |
Rs. 124.900 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
124.900 |
124.900 |
124.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2120.500 |
1614.200 |
1382.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2245.400 |
1739.100 |
1506.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5819.700 |
2313.100 |
603.200 |
|
|
2] Unsecured Loans |
1067.800 |
945.700 |
713.600 |
|
|
TOTAL BORROWING |
6887.500 |
3258.800 |
1316.800 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
9132.900 |
4997.900 |
2823.700 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
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FIXED ASSETS [Net Block] |
547.300 |
253.500 |
177.900 |
|
|
Capital work-in-progress |
0.000 |
133.100 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
2823.900 |
1665.700 |
847.800 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
18569.200
|
11221.300 |
6487.500 |
|
|
Sundry Debtors |
765.400
|
571.400 |
619.200 |
|
|
Cash & Bank Balances |
1606.300
|
1948.900 |
839.600 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8655.800
|
3107.600 |
1671.100 |
|
Total Current Assets |
29596.700
|
16849.200 |
9617.400 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
23109.500
|
13626.800 |
7701.500 |
|
|
Provisions |
725.500
|
276.800 |
117.900 |
|
Total Current Liabilities |
23835.000
|
13903.600 |
7819.400 |
|
|
Net Current Assets |
5761.700
|
2945.600 |
1798.000 |
|
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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|
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TOTAL |
9132.900 |
4997.900 |
2823.700 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
6777.100 |
5298.200 |
3893.300 |
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|
|
|
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Profit/(Loss)
Before Tax |
1081.200 |
433.800 |
205.300 |
|
Provision
for Taxation |
384.800 |
134.600 |
64.600 |
|
Profit/(Loss)
After Tax |
696.400 |
299.200 |
140.700 |
|
|
|
|
|
|
Total
Expenditure |
5710.100 |
4864.400 |
3688.000 |
QUARTERLY
RESULTS
|
PARTICULARS |
30.06.2006 [1st Qtr.] |
30.09.2006 [2nd Qtr.] |
31.12.2006 [3rd Qtr.] |
|
Sales Turnover |
2677.600 |
3847.600 |
10027.400 |
|
Other Income |
384.500 |
79.300 |
138.500 |
|
Total Income |
3062.100 |
3926.900 |
10165.900 |
|
Total Expenditure |
1917.600 |
2533.600 |
3077.300 |
|
Operating Profit |
1144.500 |
1393.300 |
7088.600 |
|
Interest |
158.500 |
189.900 |
494.900 |
|
Gross Profit |
986.000 |
1203.400 |
6593.700 |
|
Depreciation |
9.500 |
10.500 |
13.400 |
|
Tax |
236.500 |
192.000 |
2056.500 |
|
Reported PAT |
740.000 |
1000.900 |
4523.800 |
Notes
2006-06 Quarter 1
1. The Board of Directors has taken on record the above-mentioned
financial results at its meeting held on 29th July, 2006. 2. The
Authorised Share Capital of the Company has been increased from Rs. 350
millions to Rs. 2100 millions and the Equity Shares of the Company have been
sub-divided from one share of Rs. 10/- to five shares of Rs. 2/- each. Further,
the Paid-up Equity Share Capital of the Company has been increased from Rs.
12,48,75,000/- to Rs. 1,62,33,75,000/- by issue of Bonus Shares of Rs.
1,49,85,00,000/-. 3. Provision for deferred tax shall be accounted for at the
end of the year. 4. Figures in respect of financial results for the previous
year's quarter have been re-grouped and re-arranged wherever considered
necessary. 5. The above-mentioned quarterly results are subject to Limited
Review by the Auditors of the Company. 6. During the quarter ended 30th June,
2006, 172 complaints were received from investors and all were resolved. No
complaints were pending either at the beginning or at the end of the quarter.
2006-09 Quarter 2
1 The above-mentioned unaudited financial results, as reviewed by
the Audit Committee were approved and taken on record by the Board of Directors
at its meeting held on 31st October, 2006. 2 The equity shares of
face value of Rs.10/-each has been sub-divided into 5 equity shares of the face
value of Rs.2/-w.e.f. 30th June, 2006. Further, the Paid-up Equity
Share Capital of the Company has been increased from Rs.12, 48, 75, 000/- to
Rs.162,33,75,000/- by issue of Bonus Shares of Rs.149,85,00,000/-. Hence the
figures of EPS and No. shares are not comparable with the corresponding
previous period. 3 Effective from 1st April 2006, the Institute of
Chartered Accountants of India has issued revised Accounting Standard (AS-15)
on Employee Benefits Necessary provisions in respect of additional liability, if
any, under the said Standard will be made at the year end. 4 Provision for
Deferred Tax shall be accounted for at the end of the year. 5 Figures in
respect of financial results for the previous period have been re-grouped &
re-arranged wherever considered necessary. 6 The above-mentioned quarterly
results are subject to Limited Review by the Auditors of the Company. 7. No
Complaint from investors was pending at the beginning of the quarter ended 30th
September, 2006. During the quarter, 164 complaints were received from
Investors, out of which 159 were resolved and 5 complaints were pending at the
end of the quarter. Key Highlights of the Quarter Jul - Sept 06 · For the 1st
time, Unitech shared its development plans with all its stakeholders. · Unitech
continued to successfully launch high-quality residential projects in various
parts of India, including · Harmony at Nirvana Country in Gurgaon, with 340
apartments and saleable area of approx 900, 000 sq. ft. · Fresco, Phase II at
Nirvana Country in Gurgaon, with 270 apartments and saleable area of approx
400,000 sq. ft. · Uniworld City (Air, as its 5th phase) in Kolkata with 136
apartments and saleable area of approx 500, 000 sq. ft. · Unitech has received
an in-principle approval for the development of Multi-Product SEZ at Kundli,
Haryana over nearly 20,000 acres in two phases. · Unitech has received an
in-principle approval for the development of an Auto Component SEZ in Gurgaon
over 250 acres. · Unitech is part of the consortium New Kolkata International Development
Private Limited, (NKID) that signed an agreement with the Government of West
Bengal to under take one of the largest infrastructure development projects in
the country. It entails development of 2 SEZs - a 10,000 acre Petrochemical SEZ
and a 12,500 acre Multi Product SEZ.
200612 Quarter 3
EPS is Basic & Diluted 1. The above mentioned financial
results were reviewed by the Audit Committee and were taken on record by the
Board of Directors at its meeting held on 31st January 2007. 2. The
equity shares of face value of Rs.10/- each has been sub-divided into 5 equity
shares of the face value of Rs.2/- each w.e.f. Further, the paid-up equity
share capital of the company has been increased from Rs.12,48,75,000/- to
Rs.1,62,33,75,000/- by issue of bonus shares of Rs.1,49,85,00,000/-, hence the
figures of EPS and No. of shares are not comparable with the corresponding
previous period. 3. Effective from 1st April 2006 the Institute of
Chartered Accountants of India has issued revised Accounting Standard (AS-15)
on 'Employee Benefits'. Necessary provision in respect of additional liability
if any, under the said standard will be made at the year end. 4. The sale
proceeds of investments held in companies developing Real Estate Projects is
treated as real estate revenue; net of cost. 5. Provision for deferred tax
shall be accounted for at the end of the year. 6. Figures in respect of
financial results for the previous period have been re-grouped and re-arranged
wherever considered necessary. 7. The above mentioned quarterly results are
subject to limited review by the auditors of the company. 8. For the quarter
ended 31st December 2006, 5 complaints were pending at the beginning
of the quarter and 102 complaints were received from the investors during the
quarter. Out of these, 106 complaints were resolved and 1 complaint was pending
at the end of the quarter.
KEY
RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
2.55 |
1.41 |
0.91 |
|
Long Term Debt-Equity Ratio |
1.59 |
1.21 |
0.66 |
|
Current Ratio |
1.12 |
1.18 |
1.21 |
|
TURNOVER
RATIOS |
|
|
|
|
Fixed Assets |
9.75 |
11.05 |
9.43 |
|
Inventory |
0.44 |
0.58 |
0.62 |
|
Debtors |
9.77 |
8.56 |
6.55 |
|
Interest Cover Ratio |
3.91 |
2.98 |
3.15 |
|
Operating Profit Margin(%) |
22.71 |
13.24 |
8.49 |
|
Profit Before Interest And Tax
Margin(%) |
22.24 |
12.82 |
8.04 |
|
Cash Profit Margin(%) |
11.14 |
6.29 |
4.21 |
|
Adjusted Net Profit Margin(%) |
10.66 |
5.87 |
3.76 |
|
Return On Capital Employed(%) |
20.56 |
16.70 |
10.87 |
|
Return On Net Worth(%) |
34.96 |
18.44 |
9.74 |
STOCK PRICES
|
Face
Value |
Rs.10/-
each |
|
High |
Rs.469.80/- |
|
Low |
Rs.458.00/- |
LOCAL AGENCY
FURTHER INFORMATION
History
:
Engaged
in civil engineering construction and housing development projects, Unitech has
undertaken the construction of thermal power, steel and petrochemical plants
and public utility buildings for a number of reputed public and private sector
companies.
It went
public in September, 1992 to part finance two housing projects. Behind its present solid status is its
strategic planning which deserves mention.
The decision to enter Libya during the oil boom in the mid-seventies and
strengthen its base in a country where competition was less than other Arab
nations, helped it forge ahead, untroubled by the Iran-Iraq war. Moreover, a diversified project-mix, which
includes projects in a wide variety of industries, helps reduce risks arising
from dependence on a few industries.
The decision to enter into real estate and housing development in 1986
helped it sustain its growth, in spite of drastic cuts in government
expenditure in the early nineties.
It has
signed a MoU with a Singapore consortiuma and Haryana Urban Development
Authority [HUDA], to set up a technology part at Gurgaon. The company is also setting up a ready-mix
concrete and concrete blocks plant at Taloja.
During
1995-96, the company launched its prestigious mini-township-SouthCity-II-on
Sohna-Gurgaon Road. The company
successfully completed several projects including hydrocracker project of UP
petro chemical complex at Etawah, educational media facilities at IGNOU, New
Delhi, 100 mtr chimey for captive power plant at Panipat, construction of 1048
flats & infrastructure for CIDCO, Bombay, modernisation of air control
services at Bombay airport, construction of August Kranti Bhavan, New Delhi,
casting shop in SMS – 2 of RSP, modernisation at Rourkela and indoor sports
stadium at Madras.
Unitech
maintained steady progress at different project sites including the 220 mtr
chimney at Kothagudam. AP and 190 mtr
chimney at Kutch, Gujarat, hydrocracker lab at Faridabad, corporate office and
exchange building of MTNL at New Delhi and spinning unit at Baroda.
During
1995-96 Hyundai Unitech Electrical Transmission became a subsidiary of
Unitech. The company signed a joint
venture agreement with Haryana Urban Development Authority [HUDA] and First
Capital Property Ventures Pte Ltd, Singapore, to develop a technology park at
Gurgaon which will house the high technology industries proposed to be set up
by domestic and international companies of repute.
It is
implementing large scale real estate and housing development projects on the
Delhi – Gurgaon road and at Lucknow, multi-storeyed apartments at Connaught
Place, New Delhi, a housing complex at Virar, Bombay and at various prime
locations in Bangalore, Lucknow, Shimla, Indore, Goa, etc.
The
company plans to set up amusement parks and urban entertainment centres and
also plans to commence a B.Sc. [Honours] Degree Course in Information
Technology duly validated by Oxford Brookes University, UK in 2001.
Appropriations
The total income of the company for the year was Rs. 6747.500 millions as
against Rs. 5271.800 millions in the previous year. The company earned a Profit
after tax of Rs. 696.500 millions as against Rs. 299.100 millions in the
previous year registering a growth of almost 133%.
On a consolidated basis, you may note that, the total income for the year was
Rs. 9545 millions as against Rs. 6649 millions in the previous year and the
profit after tax of Rs. 876.500 against Rs. 348 millions in the previous year
registering a growth of over 150%.
Real Estate Projects:
Real Estate Division of the Company has been growing at a rapid pace during the
last year. They have many ongoing projects in Gurgaon, Noida, Greater Noida,
Bangalore and Kolkata. In the coming year; they will be starting operations in
various other cities in India.
Upcoming Projects
* Unitech Habitat, Greater Noida (a 23.7 acres Group Housing project with 902
apts)
* Escape, Nirvana Country, Gurgaon (a 10.1 acres Group Housing
project with 400 apts) * Unitech Karma Lakelands, a golf community, consisting
of 300 odd villas spread across a 9 hole golf course
* A Group Housing project in Gurgaon (10.5 acres, with around 280
apts)
* A Group Housing project in Greater Noida (8.75 Acres, with
around 300 apts)
* Uniworld Resorts (230 acres)
* Uniworld Gardens-II - Gurgaon (11.1 acres - Group Housing) *
Downtown, Uniworld City, Kolkata, with around 277 apts * Air, Uniworld City,
Kolkata, with around 136 apts
* Cascades, Uniworld City, Kolkata, with around 490 apts
* Oasis at Chennai, a 45 acres residential project, with 1500
apts
* Oasis, a residential township project at Alwal, Hyderabad,
spread across 120 acres, with 2300 apts and villas
* A 10 acres residential project in Banjara Hills, Hyderabad, spread across 10
acres
* The Cove, a 250 acres residential township in Kochi
* A 12 acres residential project in Bangalore
Commercial Projects
Ongoing Projects
* Unitech Cyber Park, Gurgaon
Possessions
The below companies have shifted Unitech Cyber Park, in the last year
* Hewitt International Services Private Limited
* Bharti Televentures
* Fidelity Business Services, India
* Sun Life India
* Evalueserve.com Private Limited
* Vertex Customer Service
* Yatra Online
* Brocade
Ciena Telecom have shifted to their commercial building at Sector 32,
Gurgaon
Shri Ram Fibres have started operation in Unitech Crest, at Greenwood City,
Gurgaon, last year
HCL Technologies have started operations in Info Centre, Gurgaon, last
year
Upcoming Projects
* Infospace, Noida (20 acres and 1.3 mill sq ft)
* Corporate Office, Saket (1.33 acres and 0.6 mill sq ft)
* Nirvana Courtyard, Gurgaon (2.4 acres and 0.18 mill sq ft)
* Infospace, Kolkata (50 acres)
* Infospace, Gurgaon (28 acres and 2.5 mill sq ft)
* A 4 acres project in Bangalore
Hospitality: They are partnering
Marriott Hospitality in 4 projects so far, to operate hotels for the company:
1. Marriott Courtyard, Gurgaon, with 199 rooms
Marriott Courtyard, Noida, with 210 rooms
Marriott Courtyard, Kolkata, with 250 rooms
Marriott Executive Apartments, Gurgaon, with 173 rooms
Construction Project
Highway Projects:
The company has successfully completed one World Bank funded State Highway
Project in Uttar Pradesh within the scheduled time. The two highway projects -
one in the state of Madhya Pradesh and one in Karnataka (peripheral expressway
around Bangalore city a part of the Bangalore Mysore Infrastructure Corridor
Project) are proceeding well. Two Flyover Projects at Punjabi Bagh Club
intersection and Motinager intersection on Ring Road have been completed in
record time and handed over to the client.
The Company has also been awarded two World Bank funded Road Projects in the
state of Uttar Pradesh and another State highway ADB funded project in the state
of Madhya Pradesh.
Industrial Projects
The company has successfully completed and handed over the National Board of
Examination (NBE) building, Chimney project at Parichha, Thermal Power Station
for Reliance Energy Limited and Structural work for Jindal Stainless Limited at
Hissar.
Progress of work on Employees Provident Fund Organization (EPFO) Building is
progressing satisfactorily and is expected to be completed as per schedule. All
Chimney projects located at Bhatinda for Punjab State Electricity Board (PSEB),
Bhilai for Bhilai Electricity Supply Company Private Limited, Dist-Durg,
Chattisgarh and at Mejia for Mejia Thermal Power Station, West Bengal are
proceeding as per schedule and shall be handed over well in time. 'Cardiology
& Neurology Tower' (C. N. Tower) at AIIMS, New Delhi is also proceeding
well.
The company has secured a prestigious 'IT Park' Building project from Delhi
Metro. The Company has also secured 275 Meter high chimney project at
Yamunanagar and Civil Work for Water System at Yamunanagar. All these three
projects are progressing as per schedule.
Overseas Projects:
The Company has successfully completed Oil Movement Control Building for
Zueitina Oil Company within the scheduled completion time. The quality of the
construction has been appreciated by the client. 220 KV and 66 KV Transmission
line projects for General Electric Company are also progressing well.
The company has secured a 66 KV Electricity Transmission line project from
Siemens on a Turnkey basis. Great Man Made River Authority is the owner of the
project. The Company is also expecting 66KV, 220KV and 400KV Transmission line
projects from oil Companies and International Companies.
Joint Ventures
Amusement Parks:
Noida Amusement Park:
International Recreation Parks Private Limited, a 50:50 joint venture between
Unitech Investments Limited and International Amusement Limited, is setting up
a project comprising of a themed amusement park, shopping malls, food courts,
multiplexes etc. in an area of more than 145 acres of land allotted at Sector
38A, Noida by the Noida Authority. It is the first themed amusement park of the
country and will soon become a unique and unparallel destination for amusement
and entertainment in India.
The Park would feature world class rides and has been designed by Forrec, world
renowned theme park designers from Canada.
The year 2005-2006 was a year of considerable development for the project.
Phase I of the Park is at its completion stage and specifically for the 'Teen
Zone' for which work is in an advanced stage. 23rd August, 2005 saw
the launch of the first ride in the Noida park- Mega Disco in the Teen Zone.
There are a total of 9 rides in phase 1, out of which 7 queue structures are in
place on site. The zone is expected to be completed and operational by
October-November, 2006. Turner International and IRPPL have tied up to use
Turner Branding exclusively around the Children Zone. The Children Zone has
been renamed Townsville, the area has been increased and redesigned to hold
Cartoon Network characters and branding.
Rohini Amusement Park:
Unitech Amusement Parks Limited (UAPL), a 50:50 joint venture between Unitech
Limited and International Amusement Limited is setting up a project comprising
of a shopping mall, amusement park and a waterpark in a area of more than 62
acres of land allotted to the Company at Sector -10 in Rohini. The Park has
been designed by Forrec, world renowned theme park designers from Canada. The
consultants commissioned for Noida Amusement Park are also consulting for the
Rohini Amusement Park with respect to Operations, Food & Beverage, Safety,
Lighting, Audio etc. Five out of fourteen rides have been installed and
commissioned by TUV. Rest of the eight rides viz,. Maverick, Air Force 5,
Spring Ride, Side Winder, Train Ride, Safari Cars, Crazy Fire Chief, Bumper
Cars and Food Court Carousel are expected to be ready by September, 2006. The
Soft opening of the Park is scheduled for the first week of August. After which
the Park will be opened for NGO children and corporates on special invitation.
The commercial opening of the park will be in the first week of November after
which the public will be allowed into the Park.
Turner International and UAPL have tied up to use Turner 'POGO' Branding
exclusively around the Children Zone in the Rohini Park. It will be an area of
about 3.5 acres, themed completely around the POGO theme with LIVE ACTION as
the focus. Large format screens, live cameras and interactive
theatre/activities give it a completely different feel from Noida and provides
it with a brand identity, never been done before.
Industry Structure and Developments
For a third year in succession, the Indian Economy has continued its rapid
growth during the fiscal year 2005-2006. With a GDP of more than 8%, India has
continued to be one of the fastest growing economies of the world. Government
of India has opened-up the construction and development sector by permitting
100% foreign direct investment (FDI) under the `automatic route'. Therefore,
the year 2006 promises a sparking future to the Industry. As a result of the
relaxation given by the Indian Government, foreign players are being attracted
in the market. According to PHDCCI study, Indian construction industry is all
set to become $180 billion sector by 2020.
Opportunities and Threats
Pragmatic and visionary policies adopted by the Government have provided
tremendous opportunity for real estate Companies to encash. The company is all
set to avail such opportunities and take a giant leap forward in the path of
progress. The company has firmly set its sight on the future. Its road to
future success is paved with glorious upcoming projects.
Apart from normal business risks, the company is facing stiff competition from
its old competitors as well as new entrants in the same line of business.
However, due to long experience, pragmatic and prudent policies and induction
of young and dynamic visionaries with expertise coupled with infusion of
high-tech approach, Unitech continues to be the pioneer and has emerged as a
leader leaving all its competitors far behind.
Segment-wise performance
Though the Company has diversified in various areas; through its various
subsidiaries, in its main stream it operates through three divisions viz,. Real
Estate Development, Construction and Consultancy. The growth in each division
was indeed more than satisfactory. Real Estate Division registered a growth of
more than 100% in terms of Profit before Tax. The Construction Division has
initiated steps to improve its engineering designs and construction methods
benchmarked to global best practices. The Consultancy Division strived to
provide best services to its customers.
Outlook
Although the real estate business remains the mainstay of the group, it intends
to diversify more aggressively into other related areas like hospitality and
entertainment. The group is looking at an annual growth of over 30 per cent,
led primarily by the new businesses.
Financial performance with respect to operational performance
The company's performance in terms of financial results during 2005-2006 was
outstanding. The year has been the best year in the Company's history with the
turnover of the Company touching Rs. 6530 millions and Profit after tax
touching Rs. 700 millions. Continuous increase in the value of the shares bears
testimony t3 this grand financial success of the Company. An enviable track
record of un-interrupted profit booking and dividend payment for the last 20
years inspires us to strive to excell and surpass previous performances year
after year.
In terms of operational performance, be it commercial and residential
complexes, technology parks, amusement parks, hotel management and allied
technical services or transmission lines, the company has carved a mark of
excellence in all these fields.
WEBSITE
DETAILS
Unitech Now Brings 'Harmony' At 'Nirvana
Country' Residential Township
New Project to bring further harmony of
Luxury & Style at 320 acres township
New Delhi, Monday, August 21, 2006: Strengthening its legend of developing
world class residential projects and opening new avenues for those seeking to
be a part of these, Unitech Limited - nation's premier real estate &
infrastructure developer in joint venture with Pioneer Urban Land and
Infrastructure Limited- today announced a new addition in its ultra-luxurious
320 acres residential township, Nirvana Country, at Gurgaon. Enchristened as
'Harmony', the new residential block at Nirvana Country, will be spread across
10.57 acres and would comprise of high-rise apartments block, rising up to 19
floors and having around two to three units per floor.
Announcing the new apartments block, Mr. Sanjay Chandra - Managing Director - Unitech Limited, said, "Nirvana Country is amongst Unitech's premier projects, which has not only re-defined the paradigms of residential development in the country, but also won tons of applaud from both national & international patrons. Post the stupendous success of earlier projects at Nirvana Country, they are proud to introduce Harmony - which, they hope, would continue to set new standards in luxury & style and would give an opportunity to many more to experience this world class living and the best amenities, the township offers."
'Harmony' at 'Nirvana Country', Gurgaon would offer the following options to its patrons:
2 bedrooms with servant's room
3 bedrooms with servant's room
4 bedrooms with servant's room
The new project would have a total of 340 units, with sizes ranging from 1700 sq ft to 3300 sq ft. The price of the apartments range from 7.9 millions to 14 millions.
The total saleable area of this project is 8, 75, 000 sq ft.
The project will be completed by July 31st 2009.
Blending the best in style & luxury, each apartment unit at 'Harmony' would have the 'best-in-class' features - including a combination of wooden & imported marble flooring; pre-fitted AC in every room and a fully fitted modular kitchen with a refrigerator, chimney and hob. Further, harmonizing with the nature and assuring an enchanting lifestyle, the project would have up to 80% landscaped greens and a 100% power back-up. Move in…to bring the perfect harmony in the lives!
Press
Release
Unitech
Limited to sponsor the Sri Lankan Tri-Series
-
Watch India, Sri Lanka & South Africa battle for “THE UNITECH CUP” -
New Delhi, August 5, 2006: Celebrating the spirit of cricket, Unitech
Limited, the leading pan-Indian Real Estate & Infrastructure Developer, has
bagged the sponsorship title for the forthcoming Sri Lankan Cricket Tri-series.
Starting August 14, 2006, the cricket teams of South Africa, Sri Lanka and
India will battle for the ‘Unitech Cup’ that will take place in Sri Lanka. The winning
team will get an attractive trophy by UNITECH Ltd. along with the cash prize.
Besides this, categories such as Unitech Winner of the Match, Unitech Winner of the
Series & Unitech Man of the Match will also be awarded to the
discerning players.
The
series comprising of seven (7) one-day matches will see the hosts Sri Lanka
pitted against the in-form Indian team lead by Rahul Dravid and the mighty
South African team in the 15-day blitzkrieg culminating on 29th August 2006,
for the coveted Unitech Cup.
Commenting
on the association with the cricket tri-series, Mr. Sanjay Chandra, Managing Director of
Unitech Limited said, “It gives
us great pleasure to be associated with the Unitech Cup as its principal
on-ground sponsors. Cricket in the Indian sub-continent symbolizes the spirit
of fraternity and national solidarity coupled with a spirit of sportsmanship
where the best always wins. Unitech on its part is committed to a progressive
India reflected in its leadership position in developing high quality housing
and state of the art commercial real estate infrastructure across the country.”
This is
the first initiative by Unitech Limited as a corporate citizen towards
promoting sports. Unitech Limited is also associated with social causes
including developing educational institutions, health cities, and education and
food programmes for the poor & the displaced. Unitech Limited is committed
to spreading the message that if you can dream and believe in the dreams, you
can create a better world.
THE
UNITECH CUP, 2006 Calendar
|
Date |
Match
Details |
Venue |
|
Mon 14 |
Sri
Lanka v South Africa, 1st Game, The Unitech Cup, 2006 |
Colombo
(D/N) |
|
Wed 16 |
Sri
Lanka v India, 2nd Game, The Unitech Cup, 2006 |
Colombo
(D/N) |
|
Sat 19 |
India
v South Africa, 3rd Game, The Unitech Cup, 2006 |
Colombo |
|
Mon 21 |
Sri
Lanka v South Africa, 4th Game, The Unitech Cup, 2006 |
Colombo |
|
Thu 24 |
Sri
Lanka v India, 5th Game, The Unitech Cup, 2006 |
Colombo
(D/N) |
|
Sat 26 |
India
v South Africa, 6th Game, The Unitech Cup, 2006 |
Colombo
(D/N) |
|
Tue 29 |
Final,
The Unitech Cup, 2006 |
Colombo
(D/N) |
About
Unitech Limited
Earlier
known as United Technical Services, Unitech Limited was established in 1972 by
a group of engineers, initially as a consultancy firm for soil and foundation
engineering.
Unitech
Group is the largest listed real estate company in India with a market
capitalisation of US $ 3.5 billion.
With a
vision to build self-sustained, modern cities with hi-tech infrastructure,
top-of-line work places and designer residences, Unitech Limited has built 30
million sq. ft. of residential townships.
Besides
residential projects, Unitech Limited also has a presence in commercial spaces,
hotels, amusement parks, infrastructure development, and construction of
thermal power plants, transmission lines, highways, flyovers, industrial
facilities, steel plants, and overseas turnkey projects.
Unitech’s
IT Parks are setting industry standards and are much in demand with
international clients, like Fidelity, Hewitt, HP, Gillette, EDS, Convergys,
Reebok, Nike and many more such.
Unitech’s
expertise in infrastructure development is brought to the fore in its development
of residential townships, which are completely self-sustained. Today, Unitech
Limited, ranks amongst the top 50 Real Estate companies of the world.
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 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.44.13 |
|
UK
Pound |
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.56.99 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
|
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 |
|