MIRA
INFORM REPORT
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Report Date : |
23.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
K RAHEJA CONSTRUCTIONS PRIVATE LIMITED |
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Registered Office : |
Construction House, B- 2nd Floor, 623 Linking Road, Khar (West),
Mumbai – 400 052, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
06.02.1997 |
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Com. Reg. No.: |
105702 |
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CIN No.: [Company
Identification No.] |
U70100MH1997PTC105702 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK06863D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is a Sole Selling Agent and Real Estate Developer |
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 53300 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established real estate developer. The company has
been doing well. Its trade relations are fair. Payments are usually correct
and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Construction House, B- 2nd Floor, 623 Linking Road, Khar
(West), Mumbai – 400 052, Maharashtra, India |
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Tel. No.: |
91-22-26006946/ 26005150 / 26002827 |
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Fax No.: |
91-22-26006946. |
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E-Mail : |
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Website : |
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Pune Office : |
Raheja Chambers, 361/1, Bund Garden Road, Pune 411 001. India. |
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Tel. No.: |
91-20-26125401/ 26136511/ 6514 |
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Fax No.: |
91-20-26124102 |
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E-Mail : |
BUSINESS DETAILS
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Line of Business : |
Subject is a Sole Selling Agent and Real Estate Developer |
GENERAL
INFORMATION
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No. of Employees : |
25 |
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Bankers : |
Not Available |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kuvelker Naik and Gandhi Chartered Accountants |
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Address : |
Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.110 |
0.110 |
0.110 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
13.221 |
5.766 |
4.109 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.331 |
5.876 |
4.219 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
3.291 |
3.453 |
6.813 |
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TOTAL BORROWING |
3.291 |
3.453 |
6.813 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.622 |
9.329 |
11.032 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.952 |
1.609 |
1.759 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.170 |
1.170 |
1.170 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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0.000 |
0.000 |
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Cash & Bank Balances |
0.457
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0.173 |
0.000 |
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Other Current Assets |
0.000
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0.000 |
17.031 |
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Loans & Advances |
31.100
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20.602 |
0.000 |
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Total
Current Assets |
31.557
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20.775 |
17.031 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities and Provisions |
18.060
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14.242 |
8.960 |
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Total
Current Liabilities |
18.060
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14.242 |
8.960 |
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Net Current Assets |
13.497
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6.533 |
8.071 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.017 |
0.032 |
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TOTAL |
16.622 |
9.329 |
11.032 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2004 |
31.03.2003 |
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Sales Turnover (including other income) |
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40.692 |
30.221 |
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Total Income |
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40.692 |
30.221 |
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Profit/(Loss) Before Tax |
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14.014 |
5.468 |
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Provision for Taxation |
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5.300 |
2.000 |
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Profit/(Loss) After Tax |
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8.714 |
3.468 |
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Expenditures : |
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Interest |
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0.172 |
0.342 |
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Depreciation & Amortization |
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0.466 |
0.446 |
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Other Expenditure |
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26.038 |
23.970 |
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Total Expenditure |
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26.676 |
24.758 |
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KEY RATIOS
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PARTICULARS |
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31.03.2004 |
31.03.2003 |
31.03.2002 |
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PAT / Total Income |
(%) |
21.41
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11.47 |
N A |
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Net Profit Margin (PBT/Sales) |
(%) |
34.43
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18.09 |
N A |
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Return on Total Assets (PBT/Total Assets} |
(%) |
90.71
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67.15 |
N A |
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Return on Investment (ROI) (PBT/Networth) |
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1.05
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0.93 |
N A |
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Debt Equity Ratio (Total Liability/Networth) |
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1.60
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3.01 |
3.73 |
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Current Ratio (Current Asset/Current Liability) |
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1.75
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3.18 |
1.90 |
LOCAL AGENCY
FURTHER INFORMATION
Website Details
Attached:
Group
Subject and K. Raheja Hospitality are part of G.L. Raheja's conglomerate. The group has been in its core business of construction and property development for over 5 decades now, and has always enjoyed a great amount of trust and loyalty from its patrons over the years.
Subject has successfully ventured into the areas of Housing & Real Estate, Hospitality, Finance and Retailing, to name a few, and the success it has achieved in each speaks about the technical, managerial, financial competence and the quality of manpower, it possesses. Strong belief in developing a lasting relationship, whether it be a Customer, joint Venture partner, Vendor or an Employee makes it one of its kind in the Indian Environment.
Amongst all its activities, the Group has never left the society out of focus, to which it belongs. It has shouldered the responsibility to provide education and improve health standards of members of the society through Educational Institutes and Hospitals.
Subject has successfully completed about 2000 projects within India of Residential, Industrial and Commercial kind. Projects receive attention to the smallest detail, apart from every stage in every process being carefully monitored by the best professionals in the business. Quality therefore is of utmost importance.
Subject also offers most modern amenities in projects with a view to enhancing comfort levels for all. From the club-houses available in some projects to vinely landscaped gardens and children's playgrounds, each comes with a view to providing an uncompromising lifestyle for residents and corporates alike. Over its 40 plus years of experience in this fields, the group has also pioneered the concept of self-sufficient, self contained 'township development'.
Optimum utilisation of interior space is as important a
feature for the company as it is for prospective buyer. Equal attention is also
paid to the surroundings, and beautifully landscaped gardens always adorn
subject's projects.
All projects are completed with a view to creating a healthy and clean family
atmosphere.
Hospitality:
G. L. Rahejas conglomerate has
also successfully diversified into the hospitality industry through its hotels
group, K. Raheja Hospitality. The company owns and successfully manages three 5
star hotels.
Ramada
Plaza Palm Grove:
The Ramada Plaza Palm Grove enjoys
a very convenient location for its corporate clientele; it is a very
strategically located property only a few minutes drive from Mumbai's airports
and busy suburban corporate areas. The hotel boasts a very beautiful, modern
fascade and is backed up by its up to date business facilities. Each room is
very tastefully appointed.
The Retreat:
A rare blend of luxury and location,
The Retreat offers the perfect setting for the busy Mumbai-ite, to get away
from the rigours of urban life. The hotel is a 5-star deluxe resort property
situated on Erangal Beach in Madh Island, Mumbai.
The Carlton – Kodaikanal:
The Kodaikanal is a virtual
paradise The Carlton helps to enjoy this paradise at its best. The Hotel is a
combination of old-world charm and modern facilities and almost all rooms
overlook the shining silk-like Kodaikanal lake.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.57 |
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UK Pound |
1 |
Rs. 81.95 |
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Euro |
1 |
Rs. 59.04 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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63 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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