MIRA
INFORM REPORT
|
Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
CYBERCITY BUILDERS AND DEVELOPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Cybercity, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.09.2005 |
|
|
|
|
Com. Reg. No.: |
047355 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.75.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102AP2005PTC047355 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC8152C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company has involved in the business of construction and
development activity. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 745000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to be
slow but correct. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Cybercity, |
|
Tel. No.: |
91-40-27545473 |
|
E-Mail : |
DIRECTORS
As on 13.09.2010
|
Name : |
Venu Vinod Vedra |
|
Designation : |
Managing Director |
|
Address : |
8-2-293/174/A/4, Road No.14, BNR Colony, Banjara Hills, |
|
Date of Birth/Age : |
06.01.1960 |
|
Date of Appointment : |
25.02.2011 |
|
DIN No.: |
00320407 |
|
|
|
|
Name : |
Korupolu Vijaya Bhaskar Reddy |
|
Designation : |
Whole Time Director |
|
Address : |
401, Ashoka Gardenia, 5-9-22/59, Adarsh Nagar, |
|
Date of Birth/Age : |
07.07.1961 |
|
Date of Appointment : |
25.02.2011 |
|
DIN No.: |
00823728 |
|
|
|
|
Name : |
Nalamada Jaiveer Reddy |
|
Designation : |
Director |
|
Address : |
Plot No.340, Road No.10, Jubilee Hills, |
|
Date of Birth/Age : |
18.01.1949 |
|
Date of Appointment : |
05.11.2008 |
|
DIN No.: |
01130596 |
|
|
|
|
Name : |
Korupolu Lakshma Reddy |
|
Designation : |
Director |
|
Address : |
8-2-684/3/37 and 38, Banjara Green, Road No.12, Banjara Hills, |
|
Date of Birth/Age : |
02.01.1952 |
|
Date of Appointment : |
25.02.2011 |
|
DIN No.: |
01863735 |
|
|
|
|
Name : |
Maheshwari Kottu |
|
Designation : |
Additional Director |
|
Address : |
314, |
|
Date of Appointment : |
11.01.2010 |
|
DIN No.: |
02018428 |
|
|
|
|
Name : |
Sunil Vishram Chawda |
|
Designation : |
Director |
|
Address : |
P.No.850, Vishram Gomati Villa, Road No.44, Jubilee Hills, |
|
Date of Birth/Age : |
07.05.1958 |
|
Date of Appointment : |
05.11.2008 |
|
DIN No.: |
02369151 |
|
|
|
|
Name : |
Kottu Murali |
|
Designation : |
Director |
|
Address : |
314, |
|
Date of Birth/Age : |
06.06.1959 |
|
Date of Appointment : |
05.09.2005 |
|
Date of Ceasing : |
11.01.2010 |
|
DIN No.: |
01669070 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
K. Murali Krishna |
|
2812500 |
|
Venu Vinod |
|
562500 |
|
Sunil Vishram C. |
|
937500 |
|
K. Vijay Bhaskar Reddy |
|
75000 |
|
K. Laxma Raddy |
|
125000 |
|
N. Jaiveer Reddy |
|
125000 |
|
Sapthala Vinod |
|
375000 |
|
N. Neeraja |
|
50000 |
|
Ashoka Developers and Builders Limited, |
|
2437500 |
|
Total |
|
7500000 |
As on 13.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
32.50 |
|
Directors or relatives of Directors |
67.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company has involved in the business of construction and
development activity. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
v
Union Bank of v
HDFC
Bank Limited |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ramana Reddy and Associates Chartered Accountants |
|
Address : |
10-5-6/B, 2nd Floor, Masabtank, |
|
Tel. No.: |
91-40-23316426/ 23316912 |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFA6113F |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
75.000 |
10.000 |
198.142 |
|
|
2] Share Application Money |
101.600 |
191.600 |
0.000 |
|
|
3] Reserves & Surplus |
9.620 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(3.994) |
(3.677) |
|
|
NETWORTH |
186.220 |
197.606 |
194.465 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.708 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
2.500 |
|
|
TOTAL BORROWING |
0.708 |
0.000 |
2.500 |
|
|
DEFERRED TAX LIABILITIES |
0.476 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
187.404 |
197.606 |
196.965 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.856 |
0.095 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
19.745
|
6.413 |
4.484 |
|
|
Other Current Assets |
991.557
|
775.593 |
591.758 |
|
|
Loans & Advances |
186.860
|
214.097 |
111.641 |
|
Total
Current Assets |
1198.162
|
996.103 |
707.883 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.151
|
0.055 |
0.936 |
|
|
Other Current Liabilities |
1008.799
|
798.564 |
510.000 |
|
|
Provisions |
5.664
|
0.008 |
0.052 |
|
Total
Current Liabilities |
1022.614
|
798.627 |
510.988 |
|
|
Net Current Assets |
175.548
|
197.476 |
196.895 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.035 |
0.070 |
|
|
|
|
|
|
|
|
TOTAL |
187.404 |
197.606 |
196.965 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Closing Work in Progress |
197.528 |
8.098 |
0.000 |
|
|
|
Other Income |
0.583 |
1.035 |
0.136 |
|
|
|
TOTAL (A) |
198.111 |
9.133 |
0.136 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Opening Work in Progress |
8.098 |
0.000 |
0.000 |
|
|
|
Projects Expenses |
129.419 |
4.774 |
0.000 |
|
|
|
Administration and Selling Expenditure |
33.041 |
4.586 |
1.572 |
|
|
|
Preliminary Expenses written off |
0.035 |
0.035 |
0.035 |
|
|
|
TOTAL (B) |
170.593 |
9.395 |
1.607 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.518 |
(0.262) |
(1.471) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.448 |
0.029 |
0.408 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.070 |
(0.291) |
(1.879) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.316 |
0.018 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.754 |
(0.309) |
(1.879) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.141 |
0.008 |
0.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.613 |
(0.317) |
(1.931) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3.994) |
(3.677) |
(1.746) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9.619 |
(3.994) |
(3.677) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.82 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.87
|
(3.47) |
(1419.85) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.97
|
(3.38) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.63
|
(0.03) |
(0.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.00 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.50
|
4.04 |
2.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.25 |
1.39 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from
5/3/338/3,
OPERATIONS AND FINANCIAL HIGHLIGHTS:
The Company has
celebrated Bhoomi Puja for construction of second phase of residential flats.
The construction of residential flats started in the previous year under the
name and style of 'Rainbow Vistas Projects” well in progress and very good
response in the market. The Company has obtained necessary permissions form the
concerned authorities for construction of residential apartments.
The members are
aware that the Company also entered Development agreement with GTC Industries
Limited jointly with Ashoka Developers and Builders Limited for development of
Commercial Complex named as "Ashoka Golden Mall" at Moosapet. Due to
recession in the market for commercial complexes, the project has been slightly
delayed. The initial expenditure incurred for the second phase of residential
project and Ashoka Golden Mall has been shown as Project expenses and the same
is kept under closing work in progress. The Company has not received any
revenue on those Projects therefore no income is recognized during the year.
During the year,
the company has decided to recognise the profits on the Rainbow Vistas Project
on the basis of applying the percentage of completion method as explained in
AS-7, Construction Contracts. Accordingly, the company recognized a profit of
Rs.19.754 millions and made provision for tax an amount of Rs.5.664 millions.
The Directors
taking all for steps to project better final results in the current year.
FORM 8:
|
Corporate
identity number of the company |
U70102AP2005PTC047355 |
|
Name of the
company |
CYBERCITY BUILDERS AND DEVELOPERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
5/3/338/3, E-Mail: venuvinod_v@yahoo.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property Others (Personal
Guarantee) |
|
Particular of
charge holder |
Union Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
1. Memorandum of
Deposit of Title Deeds 2. General Loan
Agreement 3. Demand
promissory Note 4. Letter of
guarantee 5. Omni bus
counter indemnity for letter of Guarantee |
|
Date of
instrument Creating the charge |
25.10.2010 |
|
Amount secured by
the charge |
Rs.310.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Non fund Based:
Usual Term Loan: Union
Bank Base Rate + 4.75% p.a. Terms of
Repayment: The Borrower
shall repay the said advance to the Bank in 4 quarterly installments of Rs.75.000 millions in 3 years Margin: Non fund based :
25% Term Loan: 35% Extent and
Operation of the charge: To the Extent of
property charged |
|
Short particulars
of the property charged |
Non fund based :
Cash Margin Term Loan: 1.Equitable Mortgage of Land on which construction is being made to the
extent Ac 4.08 gts in Sy No. 81/A,B,C
101/1-A, 101/1-B, 101/1-C, 102, 108/A1, 108/B, 108/C, 109/A, 109/B, 109/C,
110/A, 110/B, 110/C, 111/A, 111/B, 111/C, 112/A, 112/B, 112/C situated at
Moosapet (V), Balanagar Mdl, R.R. Dist in the name of Cyber city builders and
Developers Private Limited valued at Rs.46.500 millions. 2. Equitable
Mortgage of Land to the extent Ac
17.00 gts in Sy No. 81/A,B,C 101/1-A,
101/1-B, 101/1-C, 102, 108/A1, 108/B, 108/C, 109/A, 109/B, 109/C, 110/A,
110/B, 110/C, 111/A, 111/B, 111/C, 112/A, 112/B, 112/C situated at Moosapet
(V), Balanagar Mdl, R.R. District in the name of Cybercity Builders and
Developers Private Limited |
FIXED ASSETS:
v Computers and
Software
v Furniture and
Fixtures
v Office Equipments
v Vehicles
v
v
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.44.29 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.