MIRA
INFORM REPORT
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Report Date : |
14.03.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
Not Divulged |
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Legal Form : |
Not Divulged |
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Line of Business
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Property Developers |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Hiranandani Group. Ms. Mirabharti (Finance Head
declined to part with any information. Hence, this report is based on information
collected from website and other sources. Subject can be considered for business dealings under guarantee of its
parent group. |
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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DENIED BY
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Name : |
Ms. Mirabharti |
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Designation : |
Finance Head |
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Contact No.: |
91-22-25763604 |
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Date : |
12.03.2011 |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-22-25763604 |
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Fax No.: |
91-22-25706444 |
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Website : |
SOLE PROPRIETOR/PARTNERS
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Name : |
Mr. Niranjan Hiranandani |
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Name : |
Mr. Surendra Hiranandani |
KEY EXECUTIVES
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Name : |
Ms. Mirabharti |
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Designation : |
Finance Head |
BUSINESS DETAILS
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Line of Business : |
Property Developers |
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GENERAL INFORMATION
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No. of Employees : |
Information not divulged by management |
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Bankers : |
Not available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
DETAILS
PROFILE:
Ever since its inception in 1978, Hiranandani group has believed that its success comes from its people. Wherever there are people there is an opportunity to serve. Every activity, be it in real estate, education, healthcare, hospitality, leisure or entertainment has steadily focused on creating a better experience in every aspect of life. While corporate has gone from strength to strength, the Group is primarily synonymous with quality, commitment towards customers, reliability, and excellence in architecture.
Raising Global Lifestyles
Hiranandani has continually pioneered newer technologies, bold design and precision engineering to create landmark residential townships and commercial complexes. Propelled by the drive to change expectations and the lifestyle of people thus changing the skyline of the city, Hiranandani has ushered in an era marked by higher standards of living and global lifestyles.
With its far sightedness to spot the shifting societal
trends, Hiranandani is today a leading real estate group in its flagship
business of construction with a pan –
The Group is known for its projects of
Leaders with a vision
Today Hiranandani has a dedicated and experienced team of over 1600 people employed in its diverse community, led by the visionaries who scripted this grand success saga.
Niranjan Hiranandani
Co-founder and MD
Mr Niranjan Hiranandani is a founder of Hirco and co-founder of the Hiranandani Group. Mr Hiranandani holds key positions in various Indian government bodies, private and social institutions, schools, and colleges. Leadership roles include President of the Maharashtra Chambers of Housing Industry (MCHI); Chairman of Mumbai City, Development and Environment Committee of the Indian Merchants Chambers (I.M.C.) Mumbai; Member of the Task Force of the Government of India for reforms in Housing and Urban Development; and Member of the Study Group on Slum Rehabilitation Scheme, Government of Maharashtra.
Some of his past achievements include drafting the state policy for slum
rehabilitation in Mumbai designed to improve the wellbeing of over 6 million
slum inhabitants; acting as a trustee for the creation of Nathdwara Township as
a heritage destination; serving on the board of the Housing and Urban
Development Corporation (HUDCO), an organisation which distributes US$3 billion
per annum to help fund the building of housing for low income families; acting
as an adviser to the government of India on housing and habitat policy for over
a decade; and serving as Real Estate President of the Federation of Indian
Chambers of Commerce and Industry (FICCI). Mr Hiranandani is a chartered
accountant by qualification.
Surendra Hiranandani
Co-founder and MD
Surendra Hiranandani is the engineering genius behind the
Hiranandani Group. He ensures quality and innovation in every Hiranandani
creation. His ability to transform barren land into some of
COMMERCIAL:
The Ultimate
Destination for world business
An epitome of growth and an expression of path breaking
innovation,
Located at Powai; it provides a complete, responsive and productive work
ambience with 24 x 7 work-and-live environment and world-class infrastructure. Offering
comprehensive business solutions for enterprises geared to play an eminent role
in this integrated world.
Commercial space in
ACHIEVEMENTS AND ADWARDS
Gathering Recognitions
At Hiranandani, they believe when you proceed steadily with the eyes fixed on the carefully cultivated vision: recognition and rewards simply follow you. Today they are proud to be:
- One of the largest real estate developers in the country with respectable in various arenas such as entertainment, healthcare, hospitality, retail and education.
- An ISO 9001 – 2000 certified company.
- A company with international quality construction standards.
Raising the Bar:
Steadily
At Hiranandani, they are focused on achieving the impossible. Not satisfied at being just a pioneer, they have gone a step ahead and are now busy creating new world. And there achievements are bringing glory not to us but to there entire country.
They are leading the development of 23
Awards and Appreciations
At Hiranandani, there commitment to excellence has enabled us to gather the following accolades:
- CNBC
Awaaz CRISIL Real Estate Awards 2009 – Best Commercial Property –
- BG
House, Powai designated a
- CITYSCAPE
Awards Real Estate
- IMC
Balkrishna Bajaj National Quality Award Trophy 2009 to
- Friends
of Trees 2009 - 1st prize to
- Friends
of Trees 2008 – 2nd prize to
- CNBC Awaaz CRISIL Real Estate Awards 2008 – Best Commercial Property – Kensington 'A' Wing
- Accommodation Times – SEZ Project of the year 2008 for Kensington SEZ
- CNBC Awaaz CRISIL Real Estate Awards 2007 – Best Commercial Property – Hiranandani BG House.
- Indian Developer Felicitations to Hiranandani Developers Pvt. Ltd. – Residential in 2005.
- Accommodation Times 2004 to Hiranandani Constructions Pvt. Ltd. For Hiranandani Estate – Project of the Year in Thane.
- Old Campionities Association Award to Mr. Niranjan Hiranandani for Excellence and his Outstanding Contribution in Revolutionizing the Housing Industry and his services to the society: 2003 – 04.
- Jonathon Livingston Seagull Award 2006 – 07 for Scaling New Heights.
- Builder Information Bureau – Lifetime Achievement Award – 2007
- Construction
World Architect and Builders Awards 2008 being one of
- Vishveshariya Construction Excellence Award 2006 presented to Mr. Niranjan Hiranandani in the category of “Eminent Builder” for his outstanding contribution in Building Construction in India 2007.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.21 |
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|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.62.43 |
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 |
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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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.