MIRA
INFORM REPORT
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Report Date : |
14.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUPERTECH LIMITED |
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Registered Office : |
1114 Hamkund Chambers, 11th Floor, 89, Nehru Place, New
Delhi-110019 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.12.1995 |
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Com. Reg. No.: |
55-74422 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PLC074422 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTS02640B |
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PAN No.: [Permanent
Account No.] |
AABCS0646N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Real Estate Developer |
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 : |
USD 4300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow and Delayed |
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Litigation : |
Unknown |
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Comments : |
One can find several complaints against this developer on internet
Complaints Board. Most of them related to delay in possession, interior
quality of flouring, no interest payment although committed at the time of
booking etc. Subject has been established successful real estate developers. As
such their trade relations are reported as satisfactory. However, their
payments are slow and delayed to the suppliers. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions with some caution. |
LOCATIONS
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Registered Office : |
1114 Hamkund Chambers, 11th Floor, 89, Nehru Place, New Delhi-110019,
India |
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Tel. No.: |
91-011-41619835/ 36 |
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E-Mail : |
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Website : |
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Projected Offices : |
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Corporate Office1 : |
Supertech Shopprix Mall, C-134B, Sector- 61, Noida, Delhi, India |
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Tel. No.: |
91-120-4669900 |
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Fax No.: |
91-120-4669991 |
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Corporate Office2 : |
IInd Floor, Supertech Shopprix Mall, Sec-61, Noida |
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Mobile No.: |
91-9910475528/ 9818898989 |
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Tel No.: |
91-120 - 4264553, 4314441 |
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Fax No.: |
91-120-2581818 |
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E-Mail : |
feedback@supertechlimited.com
, vikasvashistha@supertechlimited.com |
DIRECTORS
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Name : |
Mrs. Sangita Arora |
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Designation : |
Director |
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Address : |
8/74, Sector -3, Rajendra Nagar, Sahibabad, Ghaziabad-201005, Uttar
Pradesh, India |
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Date of Birth/Age : |
06.08.1968 |
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Date of Appointment : |
07.12.1995 |
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Name : |
Mr. Anil Kumar Sharma |
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Designation : |
Director |
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Address : |
446, Galin No. -7, Rajeev Gandhi Marg, East Babar Pur, Shahadara,
Delhi-110032, India |
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Date of Birth/Age : |
05.01.1960 |
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Date of Appointment : |
08.12.2006 |
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Name : |
Mr. Ram Kishor Arora |
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Designation : |
Director |
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Address : |
8/74, Sector-3, Rajendra Nagar, Sahibabad, Ghaziabad-201005, Uttar
Pradesh, India |
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Date of Birth/Age : |
03.01.1964 |
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Date of Appointment : |
07.12.1995 |
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Name : |
Mr. Ravindra Kumar Anand |
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Designation : |
Director |
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Address : |
H-303, New Rajinder Nagar, New Delhi-110060, India |
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Date of Birth/Age : |
15.11.1950 |
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Date of Appointment : |
13.09.2006 |
KEY EXECUTIVES
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Name : |
Mr. Naresh Gupta |
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Designation : |
Secretary |
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Address : |
J-305, Neekpadamkunj, Vaishali, Ghaziabad-201010, Uttar Pradesh, India |
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Date of Birth/Age : |
07.07.1975 |
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Date of Appointment : |
02.08.2006 |
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Mobile No. : |
91-9818957603 |
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E Mail : |
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Name : |
Mr. Anurag Srivastav |
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Designation : |
Secretary |
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Address : |
Amar Pal Singh Yadav, WZ 121/3, Tpodapur, Pusa, New Delhi-110028,
India |
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Date of Birth/Age : |
01.02.1979 |
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Date of Appointment : |
17.01.2008 |
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Mobile No. : |
91-9910874116 |
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Email : |
SHAREHOLDING
PATTERN
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Bodies corporate (not mentioned above) |
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60.00 |
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Directors or relatives of directors |
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39.77 |
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Other top fifty (50) shareholders (other than listed above) |
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0.23 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Real Estate Developer |
GENERAL
INFORMATION
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No. of Employees : |
About1200 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Financial Institute : |
Sundaram Finance
Limited, No. 21, Patullos Road, Chennai-600002, Tamilnadu, India |
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Auditors : |
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Name : |
Ashu Gupta and Associates Chartered Accountant |
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Address : |
G-83, First Floor, Main Market, Laxmi Nagar, Delhi-110092, India |
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Associates/Subsidiaries : |
Supertech Estate Private Limited U45201DL2003PTC122969 Ramsang Construction Private Limited U70109DL2006PTC149739 Surprise Suppliers Private Limited U51109WB2005PTC106020 |
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International Associates : |
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CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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7500000 |
Equity Shares |
Rs. 10/- each |
Rs. 75.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs. 10/-
each |
Rs. 50.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
50.000 |
34.818 |
14.258 |
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2] Share Application Money |
0.000 |
0.000 |
1.660 |
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3] Reserves & Surplus |
826.120 |
384.415 |
152.049 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
876.120 |
419.233 |
167.967 |
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LOAN FUNDS |
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1] Secured Loans |
1367.146 |
670.820 |
47.000 |
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2] Unsecured Loans |
11.142 |
262.920 |
264.028 |
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TOTAL BORROWING |
1378.288 |
933.740 |
311.028 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.046 |
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TOTAL |
2254.408 |
1352.973 |
479.041 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.254 |
13.530 |
4.621 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
323.869 |
30.970 |
11.420 |
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DEFERREX TAX ASSETS |
0.313 |
0.085 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3111.311
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1399.740 |
1422.305 |
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Sundry Debtors |
1702.450
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570.822 |
105.685 |
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Cash & Bank Balances |
101.391
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37.090 |
13.421 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
480.567
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154.915 |
35.466 |
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Total
Current Assets |
5395.719
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2162.567 |
1576.877 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3420.445
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823.858 |
1114.069 |
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Provisions |
66.328
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30.460 |
0.000 |
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Total
Current Liabilities |
3486.773
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854.318 |
1114.069 |
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Net Current Assets |
1908.946
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1308.249 |
462.808 |
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MISCELLANEOUS EXPENSES |
2.026 |
0.139 |
0.192 |
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TOTAL |
2254.408 |
1352.973 |
479.041 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
2041.077 |
1017.443 |
309.449 |
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Other Income |
27.154 |
10.003 |
9.699 |
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Total Income |
2068.231 |
1027.446 |
319.148 |
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Profit/(Loss) Before Tax |
507.822 |
283.923 |
103.050 |
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Provision for Taxation |
62.776 |
30.120 |
8.946 |
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Profit/(Loss) After Tax |
445.046 |
253.803 |
94.104 |
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Expenditures : |
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Raw Material Consumed |
1496.957 |
709.236 |
197.232 |
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Salaries, Wages, Bonus, etc. |
7.881 |
4.127 |
2.035 |
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Managerial Remuneration |
8.563 |
1.530 |
1.308 |
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Payment to Auditors |
0.140 |
0.112 |
0.082 |
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Interest |
1.464 |
6.459 |
4.544 |
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Insurance Expenses |
6.101 |
5.888 |
4.055 |
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Power & Fuel |
0.207 |
0.116 |
0.098 |
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Depreciation & Amortization |
3.879 |
2.386 |
1.167 |
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Other Expenditure |
35.217 |
13.669 |
5.577 |
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Total Expenditure |
1560.409 |
743.523 |
216.098 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
21.51
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24.70 |
29.48 |
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Net Profit Margin (PBT/Sales) |
(%) |
24.88
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27.91 |
33.30 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.37
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13.04 |
6.52 |
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Return on Investment (ROI) (PBT/Networth) |
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0.58
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0.68 |
0.61 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.55
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4.27 |
8.48 |
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Current Ratio (Current Asset/Current Liability) |
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1.55
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2.53 |
1.42 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from C-1/9, Gokulpur,
Shahdara, Delhi, India from present address w.e.f. 02.11.2006
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U74899DL1995PLC074422 |
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Name of the
company |
SUPERTECH LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
1114 Hamkund Chambers, 11th Floor, 89, Nehru Place, New
Delhi-110019, India |
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Type of charge |
Immovable
Property |
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Particular of charge
holder |
Corporation Bank, Dilshad Garden Branch, F-14, Dilshad Colony,
Delhi-110095, India |
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Nature of
description of the instrument creating or modifying the charge |
Equitable
Mortgage by Deposit of Title Deeds. |
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Date of instrument
Creating the charge |
29.03.2008 |
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Amount secured by
the charge |
Rs. 1582.685
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest At COBAR i.e. 13.25%
per annum at present subject to revision from time to time. Terms of
Repayment Rs. 3.000
Millions OD-running account payable on demand subject to annual renewal Rs. 147.600
Millions – Demand Loan- Loan shall be repaid in 18 monthly installments from
October 2007, Interest shall be paid as and when due Rs. 270.000 Millions –
Demand Loan- Loan shall be repaid in 24 monthly installments for January
2008. BG of Rs. 12.362 Millions – to review Rs. 320.000
Millions – Term Loan Payable in 2 quarterly installments of Rs. 160.000
Millions each commencing from January 2011 Interest to be paid as and when
due. Margin OD of Rs. 3.000
Millions – Nil Demand Loan of
Rs. 1747.600 Millions -62% Demand Loan of
Rs. 270.000 Millions -58% Term Loan of Rs.
320.000 Millions- 57% Extent and
Operation of the charge The charge shall
be a continuing security in favour of the bank for all whatsoever amount due
from the borrower directly or indirectly jointly or severelly with other or
others and any of the branches of the bank. The bank shall always have
bankers lien on all securities. |
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Short particulars
of the property charged |
Equitable
Mortgage of Project land admeasuring 11800 sq. mtr and construction thereon. At
GH-Plot No. 6, Crossing Republik, NH-24 Dundahera, Ghaziabad, India |
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Name of the company |
SUPERTECH LIMITED |
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Presented By |
Sundaram Finance
Limited, No. 21, Patullos Road, Chennai-600002, Tamilnadu, India |
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1) Date and description of instrument creating the change |
Loan Cont No.
AD-1414 Dated 14.07.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Finance Amount
Rs. 0.393 Million Finance Charges
Rs. 0.059 Million |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
On the security
of No. 2005 Model Tata Sum0 E No. 783DL56EUZ715010 ch No. 417007FUZ2926134 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rs. 0.452 Million
is repayable in 36 monthly installments as under
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5) Name and Address and description of the person entitled to the charge. |
Sundaram Finance
Limited, No. 21, Patullos Road, Chennai-600002, Tamilnadu, India |
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6) Date and brief description of instrument modifying the charge |
N.A |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A |
AS PER WEBSITE
Story:
Supertech Group is constantly working towards creating new benchmarks of
architectural excellence in the present contemporary global environment. In
this new environment, the demand for multi-faceted real estate development has
become crucial for keeping pace with the
progress. Capitalising on these demand dynamics, they at Supertech Group
have always taken new initiatives and emerged as one of the prominent entities
in the real estate industry in the country over the last 15 years with more
than 75,00,000 sq. ft. of premium quality construction.
Supertech’s business philosophy derives its core strength from a firm
belief that lays stress on induction of state-of-the-art engineering techniques
and use of top quality materials in various construction projects. This results
in cost effective and holistic solutions specific to contemporary standards for
residential complexes and business centres. Supertech with its unparalleled
business approach & vision is persistently working to create value for its
customer and business partners. Using human power and by harnessing the
technological prowess, today Supertech, is all set to expand its real estate
operations and create edifices that will be the benchmark of architectural
finesse.
All this dedication and commitment has enabled them to receive the
coveted Udyog Ratan Award for the year 2001 & also ISO 9001:2000
certification for the global quality construction standards. The greatest
contributory factor to this landmark achievement is the vision of Mr. R.K.
Arora whose entrepreneurial skills and business acumen have steered the group
diligently on a growth path. Mr. Arora has also been bestowed with “Excellence
Award” for the year 2001 for his outstanding contributions to Real Estate
Industry.
Philosophy
The Supertech Group is uniquely committed to serving the clients. They
place the financial safety, comfort and success of the investors second to
none.They enjoy direct access to the Mr.
R.K. Arora (CMD) and the management team, and the company is founded on
establishing trusting, long-term relationships.As a result, many of the
investors have been with them for more than a dozen years, and more than 80
percent have invested in multiple projects.
They have to the credit over 75 Lakh sq.ft. of construction both in
residential and commercial sector and these have been acknowledged as value
products in terms of quality, aesthetics, overall planning, finishing and
timely possession.
Overview:
Subject, a real estate development company, engages in developing,
building, and promoting townships, group housings, malls, hotels, IT parks and
commercial projects in India, the company was founded in 1998 and based in
Noida, India.
Team:
Mr. R.K. Arora
CMD
"At Supertech they believe in creating wealth for the investors by
building great homes and properties where families can thrive, ensuring that
the clients have secure investments that will increase in value and thus
helping the customers realize their dream".
Mr. R.K.Arora believes that his experience building thousands of homes and
developing hundreds of acres of land belongs on the jobsite. For investors that
means they can feel secure knowing that Mr.Arora has each Supertech project
under close supervision .
Mr. R.K. Anand
Director
"They use the experience of building homes and developing
properties to do three things:"
- Give you the
opportunity to live in a better community
- Help you make
more money on the investment
- Ensure that the
legacy of the landholding brings you profits and pride
Mr. Anil Sharma
Director
"In every project, they set and meet high standards for quality,
consistency and customer satisfaction. They are equally committed to building
and maintaining strong relationships with the subcontractors, manufacturers and
suppliers."
Mr. Amit Handa
VP Sales & Marketing
"Real estate business is all about delivering promises on time to
the customer. They at Supertech believe in putting the customers above
everything. It is the customer’s satisfaction that matters most to them. Hence,
each project that they undertake is made with a vision to be committed to
continually catering to the needs of each customer. Supertech believes in
moving forward by putting forth the belief in fulfilling all promises and
honouring the commitments on time."
Mr. Arun Arora
GM Marketing
"The relationships with the clients are the foundation of the
achievement. They believe in long-term relationships, built through trust,
respect, outstanding service and commitment to mutual success."
Mr. Arun Pandey
GM Finance & Accounts
They at Supertech deal with procurement and
effective usage of fund and with supply of funds to all Sections of the
organization.
The overall objective is to chalk out optimum ways of raising adequate funds in
time and at low cost, and use of funds in the best ways and in a manner that
each Rupee is made to work at its optimum level so the Company can improve
return on investment and maximize the wealth of investors.
Mr. Manoj Kr. Srivastava
IT Head
They are always trying to place a best IT enabled services upto each end
of business network that makes easy to touch the apex.
The young and dynamic team of Information Technology driving new ERP (SAP)
that will deliver effective management of the organisation in terms of services
and business operations.
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.42.67 |
|
UK Pound |
1 |
Rs.80.92 |
|
Euro |
1 |
Rs.63.71 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
|