MIRA
INFORM REPORT
|
Report Date : |
24.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
RADHA REALTY CORPORATION INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known as : |
RADHA REALTORS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No. A – 24, 8-2-293 / 82 / A / 824, Room – 40, Jubilee Hills, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
17.03.1999 |
|
|
|
|
Com. Reg. No.: |
031343 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U45200AP1999PTC031343 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Services providers for Financial Management, Maintenance and
Operations of Real Estate. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 45580 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory track.
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. The company can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
|
Registered Office : |
Plot No. A – 24, 8-2-293 / 82 / A / 824, Room – 40, Jubilee Hills, |
|
Tel. No.: |
91-40-23600414 / 23600415 |
|
Fax No.: |
91-40-23608134 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Branch 1 : |
6-3-609 / 96 / A, Anand Nagar, Colony, Khairtabad, |
|
Tel. No.: |
91-40-23323514 / 65133237 |
|
Fax No.: |
91-40-66365894 |
|
Location : |
Owned |
|
|
|
|
Branch 2 : |
2381, Sam Complex, 1st Main Block, Shakar Nagar, |
|
Tel. No.: |
91-80-41758030 |
|
Mobile No.: |
91-9448804577 |
|
Location : |
Rented |
|
|
|
DIRECTORS
|
Name : |
Mr. M Ravindranath Reddy |
|
Designation : |
Managing Director, Chairman |
|
Qualification : |
MBA |
|
|
|
|
Name : |
Mr. M. Govaradhana Reddy |
|
Designation : |
Director |
|
Qualification : |
Under Graduate Degree in Commerce and Graduate degree in Business
Administration |
|
|
|
|
Name : |
Mr. Rajshekhar Reddy |
|
Designation : |
Financial Director |
|
|
|
|
Name : |
Mr. D. Anil Prabhukumar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Y. Mahedhar Reddy |
|
Designation : |
Director |
|
Qualification : |
M. Tech (Civil Engineering) and Master of Science from |
|
|
|
|
Name : |
Mr. K. Ramakrishna Rao |
|
Designation : |
Advisor |
|
Qualification : |
M. Tech from IIT and MBA from |
KEY EXECUTIVES
|
Name : |
Mr. C. Sunil Kumar |
|
Designation : |
Vice President, Project Development and Management |
|
Qualification : |
M.E. (Structure) and B.E> (Civil) |
|
Experience : |
18 years |
|
|
|
|
Name : |
Mr. J N Dixit |
|
Designation : |
Senior Project Manager |
|
Qualification : |
B. Tech (Civil) |
|
Experience : |
11 years |
|
|
|
|
Name : |
Mr. G Vittal |
|
Designation : |
Assistant Project Manager |
|
Qualification : |
B. Tech (Civil) and Master of Urban and Regional Planning |
|
Experience : |
22 years |
|
|
|
BUSINESS DETAILS
|
Line of Business : |
Services providers for Financial Management, Maintenance and
Operations of Real Estate. |
|
|
|
|
Services Providers : |
|
|
|
|
|
Terms: |
|
|
|
|
|
Services
Provided on : |
via transfer |
GENERAL INFORMATION
|
Customers : |
End Users, Corporate Offices etc |
|
|
|
|
No. of Employees : |
80 |
|
|
|
|
Bankers : |
²
Indian Bank, Jubilee Hills ²
ICICI Bank, Begam Peth Branch, Khairtabad |
|
|
|
|
|
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Venkataraman and Kishor Babu Chartered Accountants |
|
Tel No.: |
91-9866244482 |
|
|
|
CAPITAL STRUCTURE
Autorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21500 |
Equity Shares |
Rs.10/- each |
Rs.0.215
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.215 |
0.215 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
11.180 |
3.019 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
11.395 |
3.234 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
17.712 |
0.294 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
17.712 |
0.294 |
|
|
DEFERRED TAX LIABILITIES |
|
0.369 |
0.212 |
|
|
|
|
|
|
|
|
TOTAL |
|
29.476 |
3.740 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
5.856 |
1.890 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
|
|
|
Sundry Debtors |
|
181.198 |
66.514 |
|
|
Cash & Bank Balances |
|
|
|
|
|
Other Current Assets |
|
|
|
|
|
Loans & Advances |
|
|
|
|
Total
Current Assets |
|
181.198 |
66.514 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
Provisions |
|
157.581 |
64.668 |
|
Total
Current Liabilities |
|
|
|
|
|
Net Current Assets |
|
23.617 |
1.846 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.003 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
|
29.476 |
3.740 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
54.558 |
27.267 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
54.558 |
27.267 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
14.132 |
1.870 |
|
|
Provision for Taxation |
|
2.952 |
(1.149) |
|
|
Profit/(Loss) After Tax |
|
11.180 |
3.019 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Administrative Expenses |
|
30.197 |
9.105 |
|
|
Purchases |
|
27.235 |
16.066 |
|
|
Increase/(Decrease) in Finished Goods |
|
17.526 |
0.000 |
|
|
Depreciation & Amortization |
|
0.518 |
0.223 |
|
|
Preliminary expenses written off |
|
0.001 |
0.001 |
|
Total Expenditure |
|
75.477 |
25.395 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
20.49 |
11.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
25.90 |
6.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
7.55 |
2.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.24 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.36 |
19.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
11.62 |
1.02 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
³
³
M.
³
³
C.H.
As per Web Details
Company Profile:
Subject was started on 1997 with a professional team of highly qualified
architects, civil engineers, management pool and experienced workforce who are
skilled in concerned fields. All of their projects are residential layouts
located in the backdrop of sylvan surroundings on city outskirts. They are the
finest blend of rural charm, extravagant spaces and urban luxury. They are
aimed at fostering an exclusive lifestyle and a source of happiness for the
family. They also have their presence in
All of their
projects are close enough to the city to reach in less time and far away from
the traffic, pollution and narrow spaces of the city. They develop plots in
exclusive and choice areas where the urban infrastructure is dominant, elements
in full splendour and the residents eager to reach home to relax and
rejuvenate. Community life is emphasized with facilities for sports,
recreation, family functions and religious festivities. Excellent landscaping
with greenery and prolific plantation is aimed at stress free and ambient
living.
They are a quality obsessed company with a firm commitment to customer
satisfaction.
They provide effective solutions in lifestyles. They
strategize with trends in the markets and give maximum value for the customers.
All their practices have made them as one of the leading realtors in the city
and are poised to grow at an exponential rate in future.
Subject has an impressive portfolio of projects which
demonstrate its strong status as a pioneer and trendsetter in the Real Estate
sector. With vast experience in real estate ventures is now taken up mega
premium housing projects. They are indeed in a position to shape their know how
into state of the art landmarks. Over the years, they have created several
projects that today stand testimony to their vision and make them a leading real
estate developer in
.
Subject originally known as Radha Realtors Pvt. Ltd., has revamped into
a new corporate body that is driven for success and prides itself in finding
the future development and escalating values. In their hands hundreds of acres
in places like Manchirevula, Kakapet, Hyderguda, Kompally, and Narsingi,
Kismatpur in the backyard of Gachibowli were appreciated and treasured in
square yards. The value appreciations of all these properties are multifold and
customers reaped benefits in a short time. It is the finest investment
proposition as property values continue to increase. The software development
at Gachibowli and the incumbent international airport and hardware
establishment at Shamsabad seek out quality housing and it is where Radha
Realtors are relevant with their expertise and experience. An investment in
every Radha Realtors property is a short cut to fortunes. Ask their customers
and find out yourself.
THEIR VISION
They envision an enterprise that will create appreciating values and
appreciated relationships that will withstand a lifetime and to become a
leading business group across real estate, infrastructure and agriculture
sectors.
THEIR
Subject strives to bring maximum value and benefits to its
four stake- holders- Customers, Share-holders, Employees and the Society: for
customers by focusing on their needs and providing quality products and
services; for shareholders by providing returns on their investments that
consistently are above average; for employees by providing economic and
career-development opportunities in a challenging, rewarding environment; and
for society by fulfilling their commitment to social responsibility.
They will emphasize safety, quality and customer
satisfaction in order to promote personal business growth in an environment
that encourages openness, trust and teamwork.
THEIR VALUE SYSTEM
:
Integrity
The integrity of an organisation is the pillar of long-term success, and
its foundation lies in their people. It is the sum total of the individual
traits of honesty, dedication, and responsibility as professionals and
co-workers in a common enterprise of creating value and bringing positive
contributions towards a better world.
Value Creation
As individuals, as companies, and as countries, they must bring value to
do what they do, not just once, but consistently. It is a part of the quest to
enhance quality of life through constant thought and application of effort. As
individuals they may be good, but with teamwork they can multiply the value
they bring.
Customer Focus
Customer Focus starts by asking and listening. All their
organization is engaged in serving customers, identifying their needs,
discovering new solutions, generating and sharing value.
Plots Venture:
à
Name: Green Lands
Place:
³
From the lush foliage to the pure air, we can be
close to nature while also being comfortably close to the hub of the city.
³
Greenlands is a more 9 kms from Mehdipatnam, 13 kms
from Lakdi-ka-pul and Punjagutta, 9kms from Hi-Tech City and 4.5 kms from
Apollo Hospitals.
³
³
Minimum plot size of 500sq.yars.
³
40’, 50’ and d60’ wide bitumen road.
³
Amenities include swimming pool, children’s pool,
and gym and health club
à
Name:West End
Place: Shamshabad outer ring road,
³ Superb location
Beautiful site incredible value.
³ The plots at West
End Meadows have all of that and more.
³ A 50 acre
environment.
³ 40’, 50’, and 60’
wide roads and avenue plantation.
³ Underground
cabling for electricity and provision for telephone, optical fiber data cables.
à
Name: Dew Drops
Place: Kompally,
³
Space is freedom! Nature is happiness! Dew Drops is
a bundle of joy wrapped in nature for you at Kompally.
³
It is pure and pristine.
³
Living in Dew Drops is to invite the boundless
happiness into your life.
³
Perfect the art of living at Dew Drops in the
benevolent presence of elements.
³
Dew Drops is meticulously plane layout comprising of
69 plots with sizes varying between 300 to 500sq.yards.
³
40’, wide
internal roads.
à
Name: Fortune
Meadows
Place: Kismatpur,
³ Fortune Meadows,
an Eighteen acre residential venture, developed by Radha Realty Corp Pvt. Ltd.,
a company in real development since a decade.
³ Fortune Meadows is
unique venture with balance of ecology and technology situated in the vicinity
of Himayatsagar reservoir at Kismatpur, the location is inherent of native
beauty and natural resources.
³ Few minutes away
from the heart of city 11 kms From Mehdipatna
Present Projects
à Name:
Place: Timmapur,
³ Creek town is a 90 acre gated community comprising of plots varying from
260 to 500sq.yards.
³ Wide internal roads with avenue plantation.
³ Recreation centre with indoor and outdoor games, tennis court, jogging
track etc.
³ Close proximity to the new
³ Rain Water harvesting and underground drainage and sewage system.
à Name: Mulbeery
Meadows
Place: Devanahalli, Bangalroe
³ Mulbeery Meadows is a 7.5 acre nature enriched campus with 56 villas.
³ With basic amenities like 40’ internal roads, lush landscape, the villas
are built on plot area of 288 and 311sq.yards ranging from 2300 – 3200sq.fts.
³ An environment surrounded with nature goodness, and a cover that’s built
to improve the quality of life is what Mulbeery Meadows is all about.
à Name: Dews Ville
Place: Manchirevula,
³ Dews Ville is a beautiful residential layout on 18ac plot with 82 dream
homes rising on fairy tale grounds of 500 to 600sq.yards.
³ Each highly premium unit lays out 4 bedrooms, a lavish living room, a
smart kitchen, and exclusive it – outs.
à Name: Maple Tows –
1 and 2
Place: Bandlaguda,
Built up Area:
³
³ With basic amenities like 40’ internal roads and avenue plantation which
engulf villas built on plot area of 267 and 355 yards ranging from 2400 –
3300sft.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.39.87 |
|
|
1 |
Rs.80.11 |
|
Euro |
1 |
Rs.56.19 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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. |
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 |
|