MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
NARAYAN GROUP |
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Registered Office : |
B- 14, Heera Nagar, Shipra Path Corner, Mansarovar, Jaipur – 302020,
Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1999 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturer and Distributor of Real Estate Agents and Developers. |
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 500000 |
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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 : |
As per information available, subject is a family contractor leading
real estate developers in Jaipur, an historical city and tourist spot. Payments
are resourceful and experienced businessman. Their trade relations are fair.
Market reputation is favorable. They can be regarded normal for business dealings at usual trade terms
and conditions. Its is to be noted that ‘Narayan Group’ is not a legal entity
but it represents concerns under the same management. Given figures are verbally obtained from management. In general real estate developers are shy on giving audited financial
statements since cash components (unofficial money) are high in realty
transaction |
LOCATIONS
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Registered Office/ Factory : |
B- 14, Heera Nagar, Shipra Path Corner, Mansarovar, Jaipur – 302020,
Rajasthan, India |
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Tel. No.: |
91-141-5109999 (5 Lines) |
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Mobile No.: |
91-9314022124 |
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Fax No.: |
91-141-5109999/ 5176888 |
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E-Mail : |
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Website : |
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Area : |
125 acres |
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Residential Plots Pink City of Jaipur – Consisting 20 Building and
Selling Estates to companies like Parasvnath Developers Limited |
PARTNERS
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Name : |
Mr. Gian Aggarwal |
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Designation : |
Partner |
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Address : |
Jaipur |
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Date of Birth/Age : |
42 years |
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Qualification : |
Graduate |
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Experience : |
36 years |
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Name : |
Mr. Sonjjay Aggarwal |
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Designation : |
Partner |
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Address : |
Jaipur |
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Date of Birth/Age : |
33 years |
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Qualification : |
Graduate |
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Experience : |
16 years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
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No. of Shares |
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Mr. Gian Aggarwal, Mr. Sanjay Aggarwal and Family |
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100000000 |
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Total |
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100000000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Distributor of Real Estate Agents and Developers. |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
100 |
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Bankers : |
HDFC Bank, Jaipur |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Prahalad Aggarwal and Adsociates Chartered Accountant |
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Address : |
Jaipur |
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Associates/Subsidiaries : |
Shree Salasar Overseas Private Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.100.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.100.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
Summarized Figure
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Particulars |
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31.03.2008 |
31.03.2007 |
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Partners Capital |
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100.000 |
100.000 |
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Current Liability |
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426.700 |
NA |
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Fixed Assets |
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108.900 |
NA |
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Sundry Debtors |
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314.600 |
NA |
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Cash and Bank Balance |
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11.234 |
NA |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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1000.000 |
918.700 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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1000.000 |
918.700 |
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Profit/(Loss) Before Tax |
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81.350 |
81.184 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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81.350 |
81.184 |
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Total Expenditure |
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918.650 |
837.516 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
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8.13 |
8.84 |
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Net Profit Margin (PBT/Sales) |
(%) |
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8.13 |
8.84 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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NA |
NA |
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Current Ratio (Current Asset/Current Liability) |
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NA |
NA |
LOCAL AGENCY
FURTHER INFORMATION
Website Details
Profile:
The largest private township developer of Rajasthan, the Subject has over 10 million square yards of land under various stages of development. The pioneer builder and developer, who brought the concept of private colonies and townships to Rajasthan, hold a strong and significant leadership position in the real estate industry of the region.
Subject is a professionally managed organization, where a pool of experts — engineers, planners, architects and skilled manpower united to attain unparalleled excellence in the real estate sector. Commitment to excellence, a fetish for perfection and timelines, zealous pursuit of customer delight are the driving forces at Company.
Company commitment to creating excellent life spaces is manifested in emphasis
on intrinsically weaving into their projects, green and serene environs.
Located within the city of Jaipur, their projects have struck the vital
balance between closeness to nature and modern and contemporary lifestyle.
All their existing projects—Narayan
Vihar, Narayan City, Narayan Sarovar, Narayan Garden Residency and Narayan
Industrial Estate carry this unique signature.
Promoters
Mr. Gyan Chand
Agarwal
Joint Managing
Director
The Subject is founded on a vision which seeks to herald in a happy tomorrow by providing excellent life spaces and international living standards. Behind this vision, stands Mr. Gyan Chand Agarwal who can be called the founder of private townships in Rajasthan.
He believes that only planned development and high-standards in execution have
the power to transform quality of life and improve the economic well being of
society.
His vast experience spanning 15 years, conviction and foresight have made this
Group the undisputed leader in the region. He has brought to Jaipur many
prestigious real-estate projects that are a quantum leap in the field of
planning and development.
Mr. Sonjjay Aggarwal
Joint Managing
Director
Mr. Sonjjay Aggarwal's fresh approach to planning and development, Subject is pushing the boundaries of conventional real estate in Rajasthan.
With his global exposure, he is introducing international best practices to the
Group. Owner of India's largest integrated marble unit, Mr. Sonjjay is the man
who gave Jaipur its first Multiplex.
With his rich experience across businesses, he is bringing in many new and
revolutionary concepts. Under his leadership, the Group combines modern
aesthetics and architectural innovations with conformity to the age old
conventions in every project.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.90 |
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UK Pound |
1 |
Rs.83.76 |
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Euro |
1 |
Rs.65.99 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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54 |
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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