MIRA
INFORM REPORT
|
Report Date : |
20.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RODGERS HOTEL |
|
|
|
|
Registered Office : |
Jupiter II, 402, Navkiran Marg, Four Bungalow, Andheri (West), Mumbai-400053,
Maharashtra |
|
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Country : |
India |
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|
Date of Incorporation : |
01.04.2008 |
|
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|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
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Line of Business : |
Management and Operation of Hotel Rooms and SPA |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
New Concern |
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|
|
Payment Behaviour : |
Unknown |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is a new project promoted by resourceful promoters. Partners
are reported to have satisfactory means of their own. It would be advisable to take adequate securities while dealing with
the subject. |
INFORMATION PARTED
BY
|
Name : |
Mr. Avinash Pagde |
|
Designation : |
Account Assistant |
|
Contact No.: |
91-9766544296 |
|
Date : |
19.12.2008 |
LOCATIONS
|
Registered Office : |
Jupiter II, 402, Navkiran Marg, Four Bungalow, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Tel. No.: |
91-22-26354612 |
|
Mobile No.: |
91-9890612286 |
|
E-Mail : |
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|
Website : |
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Area : |
Approximately 500 sq.ft (Owned) |
|
|
|
|
Factory 1: |
Francis Faria / Elizabeth Faria, H.No. 43 E 1 and E 2, Pocvaddo, Betalbatim, P.O. Majorda, Salcette,
Goa-403713, India |
|
Tel. No.: |
91-832-2880774 |
|
Fax No.: |
91-832-2880773 |
|
E-Mail : |
|
|
Area : |
5440 sq. ft (Owned) |
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|
|
|
Factory 2 : |
Francis Faria/ Elizabeth Faria, Laxette – Vaddo, Behaind Varca Church,
Varca, Salette, Goa-403721, India |
|
Tel. No.: |
91-832-2880774 |
|
Fax No.: |
91-832-2880773 |
|
E-Mail : |
|
|
Area : |
9000 sq.ft (Owned) |
PARTNERS
|
Name : |
Mrs. Elizabeth Frances Faria |
|
Designation : |
Partner |
|
Address : |
Ramcons Residency, Villa 9-10, Betalbatim, Pocvaddo, P.O. Majorda,
Salette, Goa, India |
|
Date of Birth/Age : |
29.06.1974 |
|
Qualification : |
Post Graduate |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Mr. Fancis Xavier Faira |
|
Designation : |
Partner |
|
Address : |
Villa 9-10, Betalbatim Pocvaddo, P.O. Majorda, Salcette, Goa, India |
|
Date of Birth/Age : |
22.08.1968 |
|
Qualification : |
Post Graduate |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Mr. Januria S Faria |
|
Designation : |
Partner |
|
Address : |
Jupitter II, 402, Navkiran Marg, Four Bungalow, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
18.05.1938 |
|
Qualification : |
Post Graduate |
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|
|
|
Name : |
Mrs. Gwendoline C Faria |
|
Designation : |
Partner |
|
Address : |
Jupiter II, 402, Navkiran Marg, Four Bungalow, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
22.01.1937 |
|
Qualification : |
Post Graduate |
BUSINESS DETAILS
|
Line of Business : |
Management and Operation of Hotel Rooms and SPA |
GENERAL
INFORMATION
|
No. of Employees : |
9 (Office 3, Site 6) |
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|
|
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Bankers : |
Corporation Bank, Margao Branch |
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Bhatt and Mathur Chartered Accountant |
|
Address : |
402, Star Monar, Anand Road Extension, Near To Ruia Hall Malad (West),
Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-28813355 |
|
E-Mail : |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 50.000 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 50.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
New Company
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets:
·
Building Services
·
Spa Equipment
·
Land and Development
·
Interiors and Furnishing
NATURE OF
BUSINESS:
The Partnership business shall,
to construct, build acquire, buy, purchase, sale, lease, renovate, improve,
maintain, manage or otherwise own hotels, restaurants, resorts, cafes, motels,
holiday camps caravan sites, farm house, swimming pools, amusement parlors and
parks, healthcare centers clubs in India or any other part of world and to deal
with and improve such properties either as owner or as agent or any other
business as the parties hereto hereinafter may mutually decide to do and carry
on.
The aggregate remuneration payable to the working partners shall be
subject to following limits.
|
In case of Loss for the year |
Rs. Nil |
|
In the case of book profit upto Rs. 0.050 Million |
Entire book profit |
|
In case of book profit exceeding Rs. 0.050 Million but not exceeding
Rs. 0.075 Million for the year. |
Rs. 0.050 Million or 90% of the book profit whichever higher. |
|
On the amount of book profit exceeding Rs. 0.075 Million
but not exceeding Rs. 0.150 Million for the year |
60% of the excess Rs. 0.075 Million |
|
On the book profit exceeding Rs. 0.150 Million for the year |
40% of the excess over Rs. 0.150 Million |
Such aggregate remuneration shall be distributed / payable to the
working partners in their profit sharing ratio:
|
Mrs. Elizabeth F Faria |
25% |
|
Mr. Francis Faria |
25% |
|
Mr. Januario Faria |
25% |
|
Mrs. Gwemdolin Faria |
25% |
|
Total |
100% |
BUSINESS
ACTIVITIES:
|
Profile (Nature of Activity) |
Management of SPA and Rooms |
|
Details of Fixed assets ·
Land and Buildings ·
Plant and Machinery ·
Furniture and Fixture ·
Other Assets |
Rs. 50.000 Millions |
|
No. of Employees |
9 |
|
Premises ·
Owned ·
Leased (if so, monthly rent to be stated) |
Owned |
SPA
SWOT PRESENTATION ANALYSIS 2008-2009
STRENGTHS:
·
A distinct edge over other competing units due to being a boutique stand
alone unit – a major USP
·
Familiarity of services amongst the targeted demographic segment
·
Being a self-sustained unit, all services are possible under one roof,
unlke in big hotels which have as an added facility for the guest.
·
A unique multi type speciality unit, the kind of which is available only
in 5 Star Hotels.
·
Goodwill generation due to the various operational practices to be
followed.
·
Ambience and décor would be very trendy and upmarket.
·
Centrally located within an upmarket residential township
·
Designer and stylish equipments.
·
Highly motivated staff : young and energetic
·
High percentage of repeat clientele.
·
Closest and affordable Spa Facillity in the South district side to cater
to business form all access routes.
·
As part of the Rodgers Hotels group, they can take a ‘no refusal’ status with regular companies and can
inter-transfer bookings with other spa Units they start or propose to tie up
with, due to the strong marketing experience.
·
They aim to achieve over 90% ‘Excellent’ remarks of overall services
through the Guest Satisfaction Index.
·
Only Competition form Star Hotels which can not go down on price or
service, have limited services.
WEAKNESSES:
·
Competing hotels provide a host of other services not possible for a
stand alone unit.
Due to limited rooms, shifting of business to competing hotels in the
vicinity a real possibility.
·
Difficulty in entertaining huge Group bookings.
·
Trained staff may be lured by bigger hotel chains offering better
salaries and better career opportunities.
·
Unbranded competition with no quality consciousness.
OPPORTUNITIES:
·
No shortage of Manpower as Star Hotels could be sourced.
·
Branding with a known Company for products and services would help
increase business.
THREATS:
·
Competition with neighboring hotels in corporate rates will result in
loss of corporate business.
·
Competition, undercutting rates and offering low rates, which is below
operation costs, to capture business.
·
May be perceived more as a small non professional unit than a specialty
spa.
BALANCE
SHEET ANALYSIS ROGERS HOTELS LIMITED
(Rs. In Millions)
|
LIABILITIES |
BASE |
Projected 1st |
Projected 2nd |
Projected 3rd |
Projected 4th |
Projected 5th |
|
CURRENT
LIABILITIES: |
|
|
|
|
|
|
|
1) Short Term Bank Borrowings or Cash Credit (including CP) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
a) From Corporation Bank |
20.000 |
20.000 |
20.000 |
20.000 |
15.000 |
5.000 |
|
b) From Other Banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
2) SUB-TOTAL
(a+b) |
20.000 |
20.000 |
20.000 |
20.000 |
15.000 |
5.000 |
|
3) Other Short Term Loan s and Borrowings |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
4) Deposits (maturing in 1 year) |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
5) Unsecured Loans |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
6) Advance / Progress Payments form Customers/ Deposits Received |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
7) Statutory Liabilities (due in one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
8) Installments of Term Loans/ DPG/ Debentures / PSC Installments Cash
Credit |
0.000 |
3.500 |
3.500 |
4.000 |
5.000 |
5.500 |
|
9) Other Current Liabilities and Provisions |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
10)SUB-TOTAL ( Sum
3 to 9) |
0.000 |
3.500 |
3.500 |
4.000 |
10.000 |
10.500 |
|
11) Sundry Creditors (trade) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
12) Interest Accrued but not Due |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
13) Provision for Tax |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
14) Provisions for Dividend |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
15) Total Current Liabilities (2+10+11+12+13+14) |
20.000 |
23.500 |
23.500 |
24.000 |
25.000 |
15.500 |
|
TERM LIABILITIES |
|
|
|
|
|
|
|
16) Debentures (not maturing in 1 year) |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
17) Redeemable Preference Share Capital (Maturing after 1 but before
12 years\) |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
18) Term Loans |
30.000 |
27.000 |
23.500 |
20.000 |
16.000 |
11.000 |
|
19) Borrowings form Group Companies, Directors, Friends, Relatives |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
20) Deferred Payment Credit |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
21) Term Deposits Repayable after 1 year |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
22) Creditors for Capital Goods |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
23) Total Term
Liabilities (Sum 16 to 22) |
30.000 |
27.000 |
23.500 |
20.000 |
16.000 |
11.000 |
|
|
|
|
|
|
|
|
|
NET WORTH: |
|
|
|
|
|
|
|
24) Equity Share Capital |
50.000 |
50.000 |
56.927 |
63.719 |
71.291 |
81.313 |
|
25) Preference Share Capital (maturity after 12 years) |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
26) General Reserve |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
27) Development Rebate Reserve/ Investment Allowance |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
28) Share Premium |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
30) Networth
(Sum 24 to 29) |
50.000 |
56.927 |
63.719 |
71.297 |
81.313 |
92.832 |
|
31) Total
Liabilities ( 15+ 23+30) |
100.000 |
107.427 |
110.719 |
115.291 |
122.313 |
124.332 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS: |
|
|
|
|
|
|
|
32) Receivables other than deferred and export receivable (due in 1
year) |
|
6.084 |
6.056 |
8.954 |
9.853 |
10.076 |
|
33) Export Receivables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
34) Total
Debtors ( 32+ 33) |
0.000 |
6.084 |
6.056 |
8.954 |
9.853 |
10.076 |
|
|
|
|
|
|
|
|
|
35) Raw Material |
0.000 |
0.800 |
0.900 |
1.000 |
1.200 |
1.300 |
|
38) Finished Goods |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
39) Stores and Spares |
0.000 |
0.200 |
0.250 |
0.300 |
0.350 |
0.250 |
|
40) Total
Inventories (Sum 35 to 39) |
0.000 |
1.000 |
1.150 |
1.300 |
1.550 |
1.700 |
|
|
|
|
|
|
|
|
|
41) Investments (Other than Long term investments eg. Sinking fund, Gratuity
Fund etc) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
a) Government and other trustee securities |
0.000 |
0.000 |
2.000 |
2.000 |
2.000 |
2.000 |
|
b) FDs in Banks |
0.000 |
0.000 |
1.500 |
3.000 |
8.000 |
10.500 |
|
42) Interest Accrued and Due and Installments of deferred receivables
(Due within 1 year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
43)Investments (Other than long term investments e.g Sinking Fund,
Gratuity fund etc) |
|
|
|
|
|
|
|
a) Government and Other trustee securities |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
44) Advances to Suppliers of Raw Material/ Spares/ Stores consumable |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
45)Other Current Assets |
|
2.000 |
2.045 |
4.300 |
7.500 |
8.000 |
|
46) SUB-Total :
Other Current Assets (Excluding Cash and Bank Balance) (Sum 41 to 45) |
|
2.000 |
7.045 |
11.300 |
19.700 |
23.100 |
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
50) Gross Block excluding Revalued Assets |
100.000 |
100.000 |
100.000 |
100.000 |
100.000 |
100.000 |
|
51) Revalued Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
52) GROSS BLOCK
( 50+51) |
100.000 |
100.000 |
100.000 |
100.000 |
100.000 |
100.000 |
|
53) Accumulated Depreciation |
0.000 |
4.548 |
9.097 |
13.645 |
18.193 |
22.742 |
|
54) NET BLOCK (
52-53) |
100.000 |
95.452 |
90.903 |
86.355 |
81.807 |
77.258 |
|
55) Capital Work in Progress |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
56) NET FIXED
ASSETS ( 54 + 55) |
100.000 |
95.452 |
90.903 |
86.355 |
81.807 |
77.258 |
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
57) Investments/
Book Debts/ Advances/ Deposits which are not current Assets: |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
a) Investment in to Subsidiaries/ Affilate companies |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
b) Security Deposits |
|
0.500 |
0.500 |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
|
|
OTHER
NON-CURRENT ASSETS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58) Advances to Suppliers of Capital Goods, Spares and Contractors for
capital expenses |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
59)Deferred Receivables maturing beyond one year |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
60) Non-Consumable Stores |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
61) Other Miscellaneous Assets including dues from Directors |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
62) TOTAL
NON-CURRENT ASSETS ( Sum 58 to 61) |
|
0.500 |
0.500 |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
|
|
63) Intangible Assets |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
64) TOTAL ASSETS
(49+56+57+62+63) |
100.000 |
107.427 |
110.720 |
115.290 |
122.313 |
124.331 |
|
65) Tangible
Networth |
|
56.927 |
63.719 |
71.291 |
81.313 |
92.832 |
|
66) Networking
Capital ( 49-15) |
|
[12.025] |
[4.184] |
4.435 |
15.006 |
26.073 |
|
67 Total Outside
Liabilities ( 15 + 23) |
|
50.500 |
47.000 |
44.000 |
41.000 |
31.500 |
|
Difference (
31-64) |
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
RUPEE TERM LOAN:
|
ASSUMPTIONS |
|
|
|
|
|
|
1. Rate of Interest 16% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CALCULATION OF LOAN AT AN INTEREST RATE PF |
|||
|
|
|
|
16.00% |
|
|
|
|
|
|
|
Amount in Millions |
|
|
YEAR ENDING |
LOAN INFLOW |
LOAN OUTSTANDING |
PRINCIPAL REPAYMENT |
BALANCE |
INTEREST |
|
ONE |
30.000 |
30.000 |
30.000 |
27.000 |
4.560 |
|
|
|
|
|
|
|
|
TWO |
|
27.000 |
3.500 |
23.500 |
4.040 |
|
|
|
|
|
|
|
|
THREE |
|
23.500 |
3.500 |
20.000 |
3.480 |
|
|
|
|
|
|
|
|
FOUR |
|
20.000 |
4.000 |
16.000 |
2.880 |
|
|
|
|
|
|
|
|
FIVE |
|
16.000 |
5.000 |
11.000 |
2.160 |
|
|
|
|
|
|
|
|
SIX |
|
11.000 |
5.500 |
5.500 |
1.320 |
|
|
|
|
|
|
|
|
SEVEN |
|
5.500 |
5.500 |
0.000 |
0.440 |
RUPEE
OVERDRAFT AGAINST PROPERTY
|
ASSUMPTIONS |
|
|
|
|
|
|
1. Rate of Interest 16% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CALCULATION OF LOAN AT AN INTEREST RATE PF |
|||
|
|
|
|
16.00% |
|
|
|
|
|
|
|
Amount in Millions |
|
|
YEAR ENDING |
LOAN INFLOW |
LOAN OUTSTANDING |
PRINCIPAL REPAYMENT |
BALANCE |
INTEREST |
|
ONE |
20.000 |
20.000 |
0.000 |
20.000 |
3.200 |
|
|
|
|
|
|
|
|
TWO |
|
20.000 |
0.000 |
20.000 |
3.200 |
|
|
|
|
|
|
|
|
THREE |
|
20.000 |
0.000 |
20.000 |
3.200 |
|
|
|
|
|
|
|
|
FOUR |
|
20.000 |
5.000 |
15.000 |
2.800 |
|
|
|
|
|
|
|
|
FIVE |
|
15.000 |
5.000 |
10.000 |
2.000 |
|
|
|
|
|
|
|
|
SIX |
|
10.000 |
5.000 |
5.000 |
1.200 |
|
|
|
|
|
|
|
|
SEVEN |
|
5.000 |
5.000 |
0.000 |
0.400 |
ESTIMATED
REVENUE THE SPA AND GYM IN THE FIRST YEAR OF OPERATION
|
PARTICULARS |
PER
ANNUM |
Rupees In
Millions |
|
1. AYURVEDIK SPA |
|
|
|
Rs. 1000.00 per person 8 person per day |
250 days in year |
2.000 |
|
|
|
|
|
2. KERALA SPA |
|
|
|
Rs. 1500.00 Per person 8 Person per day |
250 days in a
year |
3.000 |
|
|
|
|
|
3. THAI SPA |
|
|
|
2000.00 Per Person 6 Person Per day |
250 days in a
year |
3.000 |
|
|
|
|
|
4. GYMNASIUM |
|
|
|
400.00 Per Person 75 persons per day |
12 Months in a
year |
0.360 |
|
|
|
|
|
5. ROOM- ECONOMY |
|
|
|
10000.00 Per Day 3 Bed Villa, 60% Occupancy |
365 Days in a
year |
2.190 |
|
12000.00 Per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
2.628 |
|
2000.00 per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
6.132 |
|
Room 14 Nos. |
|
|
|
|
|
|
|
6. DENTAL
THEARPHY- NUVEM |
|
|
|
15000.00 Per Patient 50 Patient per month |
12 Months in a
year |
9.000 |
|
|
|
|
|
7. Contract with
Sport Company |
|
3.000 |
|
|
Total |
31.310 |
ESTIMATED
REVENUE THE SPA AND GYM IN THE FIRST YEAR OF OPERATION
|
PARTICULARS |
PER
ANNUM |
Rupees In
Millions |
|
1. AYURVEDIK SPA |
|
|
|
Rs. 1000.00 per person 8 person per day |
250 days in year |
2.000 |
|
|
|
|
|
2. KERALA SPA |
|
|
|
Rs. 1500.00 Per person 8 Person per day |
250 days in a
year |
3.000 |
|
|
|
|
|
3. THAI SPA |
|
|
|
2000.00 Per Person 6 Person Per day |
250 days in a
year |
3.000 |
|
|
|
|
|
4. GYMNASIUM |
|
|
|
400.00 Per Person 75 persons per day |
12 Months in a
year |
0.360 |
|
|
|
|
|
5. ROOM- ECONOMY |
|
|
|
10000.00 Per Day 3 Bed Villa, 60% Occupancy |
365 Days in a
year |
2.190 |
|
12000.00 Per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
2.628 |
|
2000.00 per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
6.132 |
|
Room 14 Nos. |
|
|
|
|
|
|
|
6. DENTAL
THEARPHY- NUVEM |
|
|
|
15000.00 Per Patient 50 Patient per month |
12 Months in a
year |
9.000 |
|
|
|
|
|
7. Contract with
Sport Company |
|
3.300 |
|
|
Total |
31.600 |
ESTIMATED
REVENUE THE SPA AND GYM IN THE FIRST YEAR OF OPERATION
|
PARTICULARS |
PER
ANNUM |
Rupees In
Millions |
|
1. AYURVEDIK SPA |
|
|
|
Rs. 1250.00 per person 8 person per day |
250 days in year |
2.500 |
|
|
|
|
|
2. KERALA SPA |
|
|
|
Rs. 1500.00 Per person 8 Person per day |
250 days in a
year |
3.000 |
|
|
|
|
|
3. THAI SPA |
|
|
|
2000.00 Per Person 6 Person Per day |
250 days in a
year |
3.000 |
|
|
|
|
|
4. GYMNASIUM |
|
|
|
750.00 Per Person 75 persons per day |
12 Months in a
year |
0.900 |
|
|
|
|
|
5. ROOM- ECONOMY |
|
|
|
10000.00 Per Day 3 Bed Villa, 60% Occupancy |
365 Days in a
year |
2.190 |
|
12000.00 Per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
2.628 |
|
2000.00 per day 4 Bed Villa 55% Occupancy |
365 Days in a
year |
5.621 |
|
Room 14 Nos. |
|
|
|
|
|
|
|
6. DENTAL
THEARPHY- NUVEM |
|
|
|
15000.00 Per Patient 60 Patient per month |
12 Months in a
year |
10.800 |
|
|
|
|
|
7. Contract with
Sport Company |
|
3.600 |
|
|
Total |
34.239 |
ESTIMATED
REVENUE THE SPA AND GYM IN THE FIRST YEAR OF OPERATION
|
PARTICULARS |
PER
ANNUM |
Rupees In
Millions |
|
1. AYURVEDIK SPA |
|
|
|
Rs. 1850.00 per person 8 person per day |
250 days in year |
3.700 |
|
|
|
|
|
2. KERALA SPA |
|
|
|
Rs. 2500.00 Per person 8 Person per day |
250 days in a
year |
5.000 |
|
|
|
|
|
3. THAI SPA |
|
|
|
2500.00 Per Person 6 Person Per day |
250 days in a
year |
3.750 |
|
|
|
|
|
4. GYMNASIUM |
|
|
|
750.00 Per Person 100 persons per day |
12 Months in a
year |
0.900 |
|
|
|
|
|
5. ROOM- ECONOMY |
|
|
|
10000.00 Per Day 3 Bed Villa, 60% Occupancy |
365 Days in a
year |
2.190 |
|
12000.00 Per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
2.628 |
|
2000.00 per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
6.132 |
|
Room 14 Nos. |
|
|
|
|
|
|
|
6. DENTAL
THEARPHY- NUVEM |
|
|
|
15000.00 Per Patient 60 Patient per month |
12 Months in a
year |
10.800 |
|
|
|
|
|
7. Contract with
Sport Company |
|
3.900 |
|
|
Total |
39.000 |
ESTIMATED
REVENUE THE SPA AND GYM IN THE FIRST YEAR OF OPERATION
|
PARTICULARS |
PER
ANNUM |
Rupees In
Millions |
|
1. AYURVEDIK SPA |
|
|
|
Rs. 2000.00 per person 8 person per day |
250 days in year |
4.000 |
|
|
|
|
|
2. KERALA SPA |
|
|
|
Rs. 2200.00 Per person 8 Person per day |
250 days in a
year |
4.400 |
|
|
|
|
|
3. THAI SPA |
|
|
|
2500.00 Per Person 6 Person Per day |
250 days in a
year |
3.750 |
|
|
|
|
|
4. GYMNASIUM |
|
|
|
750.00 Per Person 100 persons per day |
12 Months in a
year |
0.900 |
|
|
|
|
|
5. ROOM- ECONOMY |
|
|
|
10000.00 Per Day 3 Bed Villa, 60% Occupancy |
365 Days in a
year |
2.190 |
|
12000.00 Per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
2.628 |
|
2000.00 per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
6.132 |
|
Room 14 Nos. |
|
|
|
|
|
|
|
6. DENTAL
THEARPHY- NUVEM |
|
|
|
15000.00 Per Patient 60 Patient per month |
12 Months in a
year |
14.400 |
|
|
|
|
|
7. Contract with
Sport Company |
|
3.900 |
|
|
Total |
42.300 |
ESTIMATED
REVENUE THE SPA AND GYM IN THE FIRST YEAR OF OPERATION
|
PARTICULARS |
PER
ANNUM |
Rupees In
Millions |
|
1. AYURVEDIK SPA |
|
|
|
Rs. 2000.00 per person 10 person per day |
250 days in year |
5.000 |
|
|
|
|
|
2. KERALA SPA |
|
|
|
Rs. 2200.00 Per person 10 Person per day |
250 days in a
year |
5.500 |
|
|
|
|
|
3. THAI SPA |
|
|
|
2500.00 Per Person 10 Person Per day |
250 days in a
year |
6.250 |
|
|
|
|
|
4. GYMNASIUM |
|
|
|
750.00 Per Person 100 persons per day |
12 Months in a
year |
0.900 |
|
|
|
|
|
5. ROOM- ECONOMY |
|
|
|
10000.00 Per Day 3 Bed Villa, 60% Occupancy |
365 Days in a
year |
2.190 |
|
12000.00 Per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
2.628 |
|
2000.00 per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
6.132 |
|
Room 14 Nos. |
|
|
|
|
|
|
|
6. DENTAL
THEARPHY- NUVEM |
|
|
|
15000.00 Per Patient 90 Patient per month |
12 Months in a
year |
16.200 |
|
|
|
|
|
7. Contract with
Sport Company |
|
3.900 |
|
|
Total |
48.700 |
ESTIMATED
REVENUE THE SPA AND GYM IN THE FIRST YEAR OF OPERATION
|
PARTICULARS |
PER
ANNUM |
Rupees In
Millions |
|
1. AYURVEDIK SPA |
|
|
|
Rs. 2300.00 per person 10 person per day |
250 days in year |
5.750 |
|
|
|
|
|
2. KERALA SPA |
|
|
|
Rs. 2500.00 Per person 10 Person per day |
250 days in a
year |
6.250 |
|
|
|
|
|
3. THAI SPA |
|
|
|
3000.00 Per Person 10 Person Per day |
250 days in a
year |
7.500 |
|
|
|
|
|
4. GYMNASIUM |
|
|
|
850.00 Per Person 100 persons per day |
12 Months in a
year |
1.020 |
|
|
|
|
|
5. ROOM- ECONOMY |
|
|
|
10000.00 Per Day 3 Bed Villa, 60% Occupancy |
365 Days in a
year |
2.190 |
|
12000.00 Per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
2.628 |
|
2000.00 per day 4 Bed Villa 60% Occupancy |
365 Days in a
year |
6.132 |
|
Room 14 Nos. |
|
|
|
|
|
|
|
6. DENTAL
THEARPHY- NUVEM |
|
|
|
18000.00 Per Patient 95 Patient per month |
12 Months in a
year |
20.520 |
|
|
|
|
|
7. Contract with
Sport Company |
|
3.900 |
|
|
Total |
55.890 |
|
Cost of Product |
100.000 |
|
|
Varca |
Land and Building |
30.000 |
|
Betalbatim |
Land and Building |
20.000 |
|
Rooms (Economy) |
Location |
|
Villa |
2 Nos.
Betalbatim |
|
Rooms |
14 Varca |
Total Location: 2
Project Cost Summary (Rs. In Millions)
|
Project Cost |
100.000 |
|
Funding |
|
|
Borrowed Funds |
50.000 |
|
Promoters Contribution |
50.000 |
|
Promoter |
Mrs. Elizabeth Faria Mr. Francis Faria Mr. Januario Faria Mrs. Gwendoline Faria |
VALUATION OF
PROPOSED 2 COMBINED ROW HOUSES WITH PROJECT / PROJECTED REPORT
Introduction:
Mr. Francis Xavier Faria, he is owner of the
Plot which bears Survey No. 87/1H at Pocvaddo of Betalbatim Village earlier
denominated as “Dando” or “Kirqutirechem” or “Valtay” situated at Pocvado
within the limits of Village Panchayat of Betalbatim. It is property located
about 200 m away from the Colva Betalbatim road. This point from where, this
property is situated is at 3 km from Colva junction of Colva – Betalbatim Road.
It is very near to newly opened “Zara Showroom” meant for antique treasure.
Little beyond this say about 250m there is another approach road to famous Nanu
Resort.
The approach road is a katcha road of about
150 M length from Colva – Betalbatim Road.
The Plot has effective area of 681 sq.m.
Mr. Francis Xavier Faria has already started
the construction of 2 row houses of total built –up area of 544 sq.m. this is
Ground + 2 structure consisting mainly of :-
a)
2 Rows houses
b)
8 large sized bedrooms with attached w/c cum
bath having bath tubs (each row house having 4 bedrooms)
c)
There shall be 2 kitchen, 2 staircases and 2
terraces for combined row houses (each row house shall have 1, kitchen, 1
staircase and 1 terrace)
Approval:
The permission for the construction in
principle has been accorded by Town and Planning Department Vide No. TPM/
Const/Betal /87/10-H/06/2546 dated 21.06.2006.
The construction license is issued by Village
Panchayat of Betalbatim vide No. VPB/2006-07/60/969 dated 20.02.2007.
The Construction is almost nearing completion
and in my considered opinion the work done is to the tune of 60% in terms of
percentage of amount to the projected value on completion. However the
occupancy certificate is issued by Panchayat vide No.VP/Bet/2008-09/660 dated
16.07.2008.
The Construction of Swimming pool has also
been completed recently vide licence No. VPB/2008-09/21 dated 13.11.2008 for
which excavation has started.
Details of proposed Construction:
2 Big Row Houses:
Built-up area………for both the row house on the
group floor……..272.00 sq.m.
Built-up area………for both the row house on the
first floor………. 220.00 sq.m.
Built-up area………for one row house on the
second floor…………052.00 sq.m.
Total
built-up area 544.00 sq.m.
The each row house shall have four large size
bedrooms, dining hall, kitchen, four w/c units, two terraces.
The specification for the same are assured by
the owner to be of very high standard of finishing and fitting and fixtures
with a intention that it should suit to higher standard of Hotel Industries. It
is very clear form the fact that each large bedroom is attached with the w/c
cum bath with bath tub:-
1. Roof:- It is partly terrace and partly with the sloping roof, which shall
have attractive façade and architectural touches.
2. Flooring:- It is in vitrified tiles (already completed)
3. Doors:- All door frames are fitted in teawood ad proposed that all the
doors shall be in teakwood. The particularly one at the entrance are of larger
size full width and partly glazed. (Almost all the door frames are fitted and
the doors are ready to be fitted.)
4. Windows:- They will be provided in powder coated, aluminium frames, duly
glazed with attractive glass.
5. Kitchen:- There shall be one kitchen in each row house with granite top
and modular shelve.
6. Electricity/ Water|:- It shall be 3 phase supply through concealed
wiring. The electric supply is yet to be commissioned but the underground
cables are already laid from the nearest main transformer to the site.
7. W/c Units:- Each unit shall have bath tub. One of the bath unit photo is
also taken to show the top quality of wall finishing as dado.
8. Wall shall be finished from the inside with plaster neeru and POP. It
will be painted by Royal Acrylic Paint. The walls form external side shall be
finished with high quality of Apex brand paint. (This work is already in
progress).
The Common amenities:-
Proposed amenities are:-
·
Security with Intercom facility and CC TV.
·
Internal roads with paver blocks.
·
Window grills for all residential units with
mosquito units.
·
Water purification RO Plant for both the
combined row house shall be provided.
·
There shall be solar system for hot water to
be supplied to the combined row houses.
·
Fully secured complex with compound wall on
all sides.
·
There shall be UPS system in case of failure
of electric supply.
FINANCIAL CALCULATION:-
1.
The Plot:-
The plot is owned by the applicant.
The plot as mentioned above, the plot is
having an area of 681 sq.m.
The Plot is located in a belt which is much nearer
to the sea beach but does not attract CRZ rules. This paritcual are is more
preferable by tourist but in particular foreign tourists.
There are hotels of higher standard like Nanu
Resort and Majorda beach Resort in nearby vicinity, but still foreign tourists
hunt for comparatively cheaper accommodation then stated hotel. There is one do
not mind by hiring such accommodating as paving guest which this complex may
provide.
There is shortage of such clear titled plots
which this fact in mind and also hike in real estate values (through started
lowering down) and also supported by local oral enquiry I am of the considered
opinion that the such plots are having unit rate around Rs. 20000 m2
Open market value of the Plot :- = Area in sq.mt X unit
rate / sq.mt
=
681 sq.mt X 20000 sq.mt.
=
Rs. 13.620 Million -------------------- Land
Combined 2 Row Houses:-
Based on above description that the finishing
shall be of high standard and also the fixture and fitting of higher standard,
with amenities as mentioned above, based on local oral enquiry, I am of the
considered opinion that this construction shall not be less than total Rs.
0.040 Million sq.mt.
Hence the valuation of the construction on
completion
=
Built-up area X unit sq.m.
=
544 sq.mt X 40000 sq.mt.
=
Rs. 21.760 Millions ………………2 row houses
So the total valuation / total project value
on completion shall be
=
Land + 2 Row Houses
=
Rs. 13.620 Millions + Rs. 21.760 Millions
=
Rs. 35.380 Millions
The present work done attributable to the
combined row house is :-
Land as mentioned
above…………………………………………………………..Rs. 13.620 Millions
Add for work done @ 60% as mentioned above Rs.
21.760 Millions = ……….Rs. 13.068 Millions
Total………………..Rs.
26.688 Millions
Note:- It is given to understand that there
are every chances that The Concerned Rodgers Hotel is likely to take over this
project to run the premises as hotel.
Hence comparison of valuation of projected
value based on rental method.
As mentioned above there are tourist who
prefer for such private accommodations (which in principle even Government of
Goa accords permission) for staying as paying guest.) Presuming that for 8
bedrooms on av. It can fetch Rs. 0.025 Million per day @ of Rs. 0.003 Million
per room.
At this rate the monthly income works out of
:- 25000 X 30 = 0.750 Million per month.
Which works out to yearly rent of Rs. 9.000
Millions
As per standard norms and practice of
valuation deducting towards taxes and the maintenance charges say at about @25%
of Rs. 9.000 Millions = Rs. 6.750 Millions
So, the valuation, keeping in mind that the
rate of return shall be @ 10% so the value of the projected = Rs. 6.750
Millions X 10 = Rs. 67.500 Millions – i.e. 67.50 Million which is much more
than then above calculation of Rs. 35.380 Millions
Hence the valuation/ Projected value of Rs.
35.380 Millions can be considered as safe.
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 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.47.08 |
|
UK Pound |
1 |
Rs.71.17 |
|
Euro |
1 |
Rs.66.98 |
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 |
|