|
Report Date : |
01.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
BNP PARIBAS REAL ESTATE AND INFRASTRUCTURE ADVISORY SERVICES PRIVATE
LIMITED (w.e.f. 07.05.2009) |
|
|
|
|
Formerly Known
As : |
ATISREAL REDWOODS PROPERTY SERVICES PRIVATE LIMITED (w.e.f. 11.04.2008) REDWOODS CONSTRUCTIONS ( |
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Registered
Office : |
Level 2, BNP Paribas, House, 1 North Avenue, Maxity Maker, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051, Maharashtra |
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Country : |
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Financials (as
on) : |
31.12.2010 |
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Date of Incorporation
: |
21.02.2008 |
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Com. Reg. No.: |
08-226623 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH2008PTC226623 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Real Estate Consultant |
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|
No. of Employees
: |
44 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 250000 |
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|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. Profitability of the company
is under pressure. However, 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.
INFORMATION PARTED BY
|
Name : |
Ms. Madhuri |
|
Designation : |
Account Officer |
|
Contact No.: |
91-22-33704162 |
|
Date : |
27.02.2012 |
LOCATIONS
|
Registered Office / Head Office
: |
Level 2, BNP Paribas, House, 1 North Avenue, Maxity Maker, Bandra Kurla Complex, Bandra (E),Mumbai - 400 051, Maharashtra |
|
Tel. No.: |
91-22-3370 4162 |
|
Fax No.: |
Not Available |
|
E-Mail : |
madhuri.ankolekar@india-bnppre.com |
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Website : |
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|
|
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Branch Office : |
Located as
|
DIRECTORS
As on 09.06.2011
|
Name : |
Mr. Raja Sukhraj Kaushal |
|
Designation : |
Managing Director |
|
Address : |
Better Homes Estate private Limited, Prathames, GR Flyover , Near
Raghuvanshi Mill Compound, Mumbai – 400013, |
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Date of Birth/Age : |
12.06.1973 |
|
Date of Appointment : |
01.03.2008 |
|
DIN No.: |
02032554 |
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|
|
|
Name : |
Mr. Gregory Alan Cooke |
|
Designation : |
Director |
|
Address : |
Beacon House, 15, Deards End Lane, Knebworth SG 3, 6Nl, Knebworth – 70249,
United Kingdom |
|
Date of Birth/Age : |
22.10.1956 |
|
Date of Appointment : |
17.06.2008 |
|
DIN No.: |
02165891 |
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|
|
|
Name : |
Mr. Henri jean Faure |
|
Designation : |
Director |
|
Address : |
23, Boulevard Dargenson, |
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Date of Birth/Age : |
22.10.1956 |
|
Date of Appointment : |
09.06.2009 |
|
DIN No.: |
02675709 |
|
|
|
|
Name : |
Mr. Bernard Blanco |
|
Designation : |
Director |
|
Address : |
12, Rue De La, Source, Sevres – 92310, |
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Date of Birth/Age : |
19.11.1965 |
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Date of Appointment : |
09.06.2009 |
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DIN No.: |
03128950 |
KEY EXECUTIVES
|
Name : |
Ms. Madhuri |
|
Designation : |
Account Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 09.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Redwoods Shares and Securities private Limited, |
|
160500 |
|
BNP Paribas Real estate, |
|
710500 |
|
Geoffrey DE Lassus Raja Kaushal |
|
129000 |
|
Total |
|
1000000 |
As on 09.06.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
71.05 |
|
Bodies corporate |
16.05 |
|
Other top fifty shareholders |
12.90 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Consultant |
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|
|
|
Terms : |
|
|
Selling : |
Cheque |
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|
|
|
Purchasing : |
Cheque |
GENERAL INFORMATION
|
Customers : |
Developers |
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No. of Employees : |
44 (Approximately) |
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|
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Bankers : |
Axis Bank, Bandra, Mumbai, |
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountant |
|
Address : |
No.102, 2nd Floor, |
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PAN.: |
AAAFK7554R |
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|
|
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Holding Company : |
BNP Paribas Real Estate Advisory and Property Management international
France |
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Ultimate Holding Company : |
BNP |
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Fellow Subsidiaries : |
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Associates Company : |
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CAPITAL STRUCTURE
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.1/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.1/- each |
Rs.1.000
Million |
|
|
|
|
|
Note:
550000 Equity Shares are held by BNP Paribas
Estate
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
119.450 |
119.450 |
119.450 |
|
|
4] (Accumulated Losses) |
(57.507) |
(42.408) |
(16.015) |
|
|
NETWORTH |
62.943 |
78.042 |
104.435 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.075 |
|
|
|
|
|
|
|
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TOTAL |
62.943 |
78.042 |
104.510 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.609 |
3.253 |
2.034 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
4.983 |
|
|
DEFERREX TAX ASSETS |
0.785 |
0.409 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
33.728
|
5.551 |
2.860 |
|
|
Cash & Bank Balances |
53.294
|
64.288 |
87.567 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.421
|
12.766 |
11.085 |
|
Total
Current Assets |
101.443
|
82.605 |
101.512 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
37.377
|
3.025 |
2.590 |
|
|
Other Current Liabilities |
4.155
|
3.859 |
0.694 |
|
|
Provisions |
1.362
|
1.341 |
0.735 |
|
Total
Current Liabilities |
42.894
|
8.225 |
4.019 |
|
|
Net Current Assets |
58.549
|
74.380 |
97.493 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
62.943 |
78.042 |
104.510 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INCOME |
54.409 |
33.804 |
28.666 |
|
|
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
69.885 |
60.572 |
44.246 |
|
|
|
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|
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|
|
|
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|
|
PROFIT / (LOSS)
BEFORE TAX |
(15.476) |
(26.768) |
(15.580) |
|
|
|
|
|
|
|
|
|
|
TAX |
(0.377) |
(0.375) |
0.435 |
|
|
|
|
|
|
|
|
|
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PROFIT / (LOSS)
AFTER TAX |
(15.099) |
(26.393) |
(16.015) |
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|
|
|
|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Towards Consultancy Services |
Nil |
3.815 |
1.541 |
|
|
TOTAL EARNINGS |
Nil |
3.815 |
1.541 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(15.10) |
(26.39) |
(18.13) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
(27.75)
|
(79.19) |
(55.87) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(14.37)
|
(31.18) |
(15.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.24)
|
(0.34) |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.68
|
0.11 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.36
|
10.04 |
25.26 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
Rs.
In Millions
|
Particulars
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
|
|
|
Other than Dues Micro, Small and Medium Enterprises |
37.377
|
3.025 |
2.590 |
|
Total |
37.377
|
3.025 |
2.590 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
-- |
|
17) Major suppliers |
-- |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
BUSINESS OPERATIONS AND PROSPECTS:
The Company has earned a total income Rs.54.409 millions and incurred total expenditure of Rs.69.885 millions for the year ended 31st December 2010 thereby incurring a loss of Rs.15.099 millions after providing for depreciation, interest & financial charges, short provision for taxation, provision for fringe benefit lax and deterred lax, which has been carry forward to Balance Sheet.
The business outlook for the year 2011 is encouraging.
Note:
The registered office of the company has been
again shifted from Unit No.704. 7th Floor, Rahaja Paramount,
Municipal No.138, Residency Road, Bangalore – 560025, Karnataka, India to present address
w.e.f. 06.01.2012
FIXED ASSETS:
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.48.94 |
|
|
1 |
Rs.77.95 |
|
Euro |
1 |
Rs.65.94 |
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 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.