MIRA
INFORM REPORT
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Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
RAVI REAL ESTATE DEVELOPERS PRIVATE LIMITED |
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Registered Office : |
76, Laxmi Palace, Mathuradas Road, Kandivali (West), Mumbai – 400067,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
12.08.1987 |
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Com. Reg. No.: |
044368 |
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CIN No.: [Company
Identification No.] |
U70100MH1987PTC044368 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR14207E |
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PAN No.: [Permanent
Account No.] |
AAACR2191Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is in the field of real estate and construction. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established real estate developer having moderate track.
This is the impairment company in Ravi Group. Group’s payments are reported as slow and delayed. The group is
currently doing well and acts of survival difficulties due to mismanagement
and interest burden. The group has some residential project in hand. It can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
76, Laxmi Palace, Mathuradas Road, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
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Tel. No.: |
91-22-28076754 28075095 /
28081210 |
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Fax No.: |
91-22-28085300 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Jayesh T. Shah |
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Designation : |
Director |
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Address : |
701 – 704, 46 Mlok, Kilachand Road, Kandivali (West), Mumbai – 400067,
Maharashtra |
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Date of Birth/Age : |
29.091963 |
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Date of Appointment : |
09.12.1993 |
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Name : |
Mr. Ketan T. Shah |
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Designation : |
Director |
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Address : |
701 – 704, 46 Mlok, Kilachand Road, Kandivali (West), Mumbai – 400067,
Maharashtra |
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Date of Birth/Age : |
29.10.1961 |
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Date of Appointment : |
09.12.1993 |
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Name : |
Mrs. Geeta R. Shah |
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Designation : |
Director |
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Address : |
701 – 704, 46 Mlok, Kilachand Road, Kandivali (West), Mumbai – 400067,
Maharashtra |
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Date of Birth/Age : |
05.17.1958 |
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Date of Appointment : |
01.04.1994 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Jayesh T. Shah |
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5450 |
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Mr. Ketan T. Shah |
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5000 |
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Mr. Tokershi S. Shah |
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4860 |
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Mrs. Sonal Shah |
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1940 |
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Mrs. Usha Shah |
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2600 |
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Mrs. Geeta R. Shah |
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11450 |
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Category |
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Percentage of
Holding |
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Directors or Relatives of director |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is in the field of real estate and construction. |
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Projects : |
˛ Gaurav Sankalp,
Mira Road, (East), Mumbai ˛ Gaurav City,
Mira Road (East), Mumbai ˛ Gaurav Gardens,
Kandivali (West) ˛ Gaurav Empire,
Goreagon (East) ˛ Gaurav Dheeraj
Heights, Andheri (West), Mumbai |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Vipul Bheda and Associates Chartered Accountants |
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Address : |
Shop No. 3, Ganesh Manish Society, Dr. Dalvi Road, Opp. Bank of India,
Kandivali (West), Mumbai – 400067, Maharashtra |
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Group of Company : |
Ravi Enterprises, Kandivali, Mumbai - 400067 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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35000 |
Equity Shares |
Rs.100/- each |
Rs.3.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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34000 |
Equity Shares |
Rs.100/-
each |
Rs.3.400
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.400 |
3.400 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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4.933 |
5.002 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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8.333 |
8.402 |
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LOAN FUNDS |
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1] Secured Loans |
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1.865 |
1.997 |
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2] Unsecured Loans |
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0.000 |
3.990 |
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TOTAL BORROWING |
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1.865 |
5.987 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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10.198 |
14.389 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.717 |
2.269 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.146 |
0.095 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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1.300 |
1.355 |
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Cash & Bank Balances |
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1.109 |
1.042 |
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Other Current Assets |
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154.705 |
105.671 |
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Loans & Advances |
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66.855 |
101.584 |
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Total
Current Assets |
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223.969 |
209.652 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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216.326 |
197.442 |
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Provisions |
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0.307 |
0.185 |
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Total
Current Liabilities |
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216.633 |
197.627 |
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Net Current Assets |
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7.335 |
12.025 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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10.198 |
14.389 |
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PROFIT & LOSS
ACCOUNT
Efforts are continued for latest Profit and Loss
A/c. figures and shall be supplemented at the earliest.
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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25.99 |
23.52 |
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Current Ratio (Current Asset/Current Liability) |
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1.03 |
1.06 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Web Details
Company Profile:
They make homes, not just concrete buildings;
They consider customer as their greatest asset;
They strive for a better business environment;
They aim at nothing but perfection in everything
The corporate
vision of Ravi Group is to do business in the field of real estate and
construction in a profitable manner to the company, customers and other intermediaries
involved. All the business operations shall done be with a long-term
perspective. That is, the company shall strive to operate profitably in a
consistent manner over the years. The foundations for this would be sound
business policies and honest business practices; while moving ahead with the
business environment.
Milestones of
Performance . . .
More than a decade
old, Ravi Group of Companies has established its foothold in the real estate
industry in Mumbai. The individual companies in the business group purchases
land or development rights and then does construction of residential as well as
commercial properties in and around the city of Mumbai in the state of
Maharashtra, India. Ravi has a team of professionals for construction, administration
and marketing of these projects. Ravi has completed more than one million sq.
ft. of construction work as on date. Another couple of million sq. ft. of work
is in progress through own projects and joint ventures.
Members of the
Family . . .
Ravi Group is more
than a decade old construction business group, which has constructed more than
one million square feet of construction work amounting to Rs.1750.000 millions.
All the companies in the Group are professionally managed by qualified and
experienced persons in the field of Architecture, Civil Engineering, Marketing,
Business Administration, Personnel, Public Relations, Banking & Finance.
The Road Ahead . .
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Ravi Group intends to get into more advanced forms of construction
activities in the near future. This will help the company in many ways. For
one, the company will be able to build core competence in specialised
construction activities as in infrastructure, mass housing, industrial
projects, etc. These competencies will be the driving force of the company and
would make it stand apart from the crowd of construction companies in the
market.
Business Associates:
Manufacturers / Suppliers of Construction Materials
Ravi Group is into
construction of residential as well as commercial complexes that requires a
variety of raw materials like steel, cement, tiles etc. as well as finished
materials like doors, windows, electrical accessories etc. Manufacturers and
Suppliers of the same may contact them at info@ravigroup.in.
Construction Contractors
They give out
contracts with or without material for construction of single or multiple
buildings. Construction contractors interested in the same may contact them at info@ravigroup.in.
Financial Institutions
They welcome
financial institutions and individuals who would like to participate in
financing their various construction projects. Please contact for the same at info@ravigroup.in.
Ravi Group attracts a lot of
customers for their residential complexes. This is a potential market for
housing loans. Housing Finance Companies interested in the same may contact
them at info@ravigroup.in.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.40 |
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UK Pound |
1 |
Rs.81.12 |
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Euro |
1 |
Rs.56.69 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
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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