|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
FERROUS INFRASTRUCTURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Khasra No.41/42/44/45, Seth Farms, Mehruli Gurgaon Road, Ghitorni, New
Delhi – 110030 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 (Provisional) |
|
|
|
|
Date of
Incorporation : |
02.02.2006 |
|
|
|
|
Com. Reg. No.: |
55-145748 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201DL2006PTC145748 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Construction and Development of Real Estate. |
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|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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 a moderate track record. It is engaged in real estate business. The financial position of the company appears to be moderate. It has
incurred loss during 2012. As per the provisional statement of 2013, it shows
that the company achieved profits during 2013 with better growth in its total
revenue. However, our rating considers the audited and verified details of
2012. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealings with some caution.
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. N. C. Jain |
|
Designation : |
General Manager (Finance) |
|
Contact No.: |
91-9810643612 |
|
Date : |
27.06.2013 |
LOCATIONS
|
Registered Office : |
Khasra No.41/42/44/45, Seth Farms, Mehruli Gurgaon Road, Ghitorni, New
Delhi – 110030, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9810643612 (Mr. N. C. Jain) 91-9560680840 (Mr. Ankit Jha) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
1st Floor, Block-B, Vatika Towers, Main Golf Course
Sector Road, Sector – 54, Gurgaon,
Haryana, India |
|
Tel. No.: |
91-124-4625500 (100 Lines) |
|
Fax No.: |
91-124-4625555 |
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E-Mail : |
|
|
|
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Project Locations : |
Sector 19, Daruherra, Haryana, India |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Surender Kishan Seth |
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|
Designation : |
Director |
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|
Address : |
Seth Farms, Mehrauli Gurgaon Road, Ghitorni, New Delhi –
110048, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.02.1945 |
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|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Experience : |
40 years |
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Date of Appointment : |
02.02.2006 |
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PAN No.: |
AAAPS2878Q |
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|
DIN No.: |
01382812 |
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Other Directorship : |
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|
Name : |
Mr. Ashish Seth |
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|
Designation : |
Chairman and Managing Director |
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|
Address : |
Seth Farm Khasra 41/42/44/45, Mehrauli Gurgaon Road,
Ghitorni, New Delhi – 110030, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
08.05.1968 |
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Qualification : |
Honours Degree in Commerce |
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|
Experience : |
10 years |
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Date of Appointment : |
02.02.2006 |
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PAN No.: |
AAAPS9216L |
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|
DIN No.: |
01382833 |
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Other Directorship : |
|
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KEY EXECUTIVES
|
Name : |
Mr. N. C. Jain |
|
Designation : |
General Manager – Finance |
|
Qualification : |
Chartered Accountant |
|
Experience : |
Over 26 years of experience in FMCG/MNC, Leasing/Finance, IT and Real
Estate sector. |
|
|
|
|
Name : |
Mr. Ashok Narula |
|
Designation : |
AGM -Purchase |
|
Qualification : |
B.Com |
|
Experience : |
Over 35 years of experience in the industry. |
|
|
|
|
Name : |
Mr. Amit Haryal |
|
Designation : |
AGM – Marketing (Daruhera) |
|
Qualification : |
B.A. (Economics) |
|
Experience : |
Over 11 years of experience in real estate industry |
|
|
|
|
Name : |
Mr. Vipin Singh |
|
Designation : |
AGM – Marketing (Faridabad) |
|
Qualification : |
MBA (Marketing) |
|
Experience : |
Over 8 years of experience in Banking and Real Estate Industry. |
|
|
|
|
Name : |
Mr. Balwan Singh |
|
Designation : |
AGM |
|
Qualification : |
Diploma in Civil Engineer |
|
Experience : |
Over 15 years of experience in Real Estate Indutry |
|
|
|
|
Name : |
Mr. Jagdev Singh Yadav |
|
Designation : |
General Manager |
|
Qualification : |
Diploma in Civil Engineer |
|
Experience : |
Over 13 years of experience. |
|
|
|
|
Name : |
Col. (Retd.) Rajinder Pahwa |
|
Designation : |
General Manager (Sources and Admin) |
|
Qualification : |
Post Graduate diploma in Computer Software Technologies |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
No. of Shares |
Percentage |
|
|
|
|
|
Surender Seth |
82500 |
55% |
|
Ashish Seth |
67500 |
45% |
|
|
|
|
|
Total |
150000 |
100.00% |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction and Development of Real Estate. |
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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
|
Customers : |
Wholesalers and OEM’s |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
· ICICI Bank Limited Gurgaon, Haryana, India · The Bank of Rajasthan Limited 17, Kachanar Marg, Qutab Enclave, Gurgaon – 122001, Haryana, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Raju and Prasad Chartered Accountants |
|
Address : |
A-20/20, DLF City, Gurgaon – 122001, Haryana, India |
|
PAN No.: |
AACFR2404H |
|
|
|
|
Associates/Subsidiaries : |
·
Ferrous
Alloy Forgings Private Limited ·
Ferrous
Forgings Limited ·
Ferrous
Township Private Limited ·
Triveni-Ferrous
Infrastructure Private Limited ·
Lavish
Housing Private Limited ·
Ernest
Housing Private Limited ·
Ferrous
Luxury World Private Limited ·
Prudential
Land Base Private Limited ·
M and
S Landbase Private Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2013 - PROVISIONAL)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
15.000 |
15.000 |
15.000 |
|
(b) Reserves & Surplus |
28.915 |
5.342 |
26.792 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
43.915 |
20.342 |
41.792 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
227.623 |
5.763 |
7.390 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
185.030 |
166.262 |
46.002 |
|
Total
Non-current Liabilities (3) |
412.653 |
172.025 |
53.392 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
14.875 |
157.936 |
83.135 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
590.727 |
966.300 |
814.143 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
605.602 |
1124.236 |
897.278 |
|
|
|
|
|
|
TOTAL |
1062.170 |
1316.603 |
992.462 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
19.817 |
25.296 |
30.763 |
|
(ii)
Intangible Assets |
0.036 |
0.061 |
0.101 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
14.300 |
14.300 |
14.300 |
|
(c) Deferred tax assets
(net) |
2.322 |
1.656 |
1.080 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.045 |
|
Total
Non-Current Assets |
36.475 |
41.313 |
46.289 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
692.532 |
834.144 |
709.093 |
|
(c)
Trade receivables |
26.646 |
26.772 |
0.000 |
|
(d)
Cash and cash equivalents |
63.375 |
38.915 |
19.852 |
|
(e)
Short-term loans and advances |
243.142 |
375.459 |
217.228 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1025.695 |
1275.290 |
946.173 |
|
|
|
|
|
|
TOTAL |
1062.170 |
1316.603 |
992.462 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operations |
724.135 |
531.041 |
395.481 |
|
|
|
Other Income |
2.297 |
5.559 |
3.875 |
|
|
|
TOTAL (A) |
726.432 |
536.600 |
399.356 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Land and Construction |
573.174 |
439.058 |
321.656 |
|
|
|
Employee Benefits Expenses |
40.861 |
29.730 |
21.122 |
|
|
|
Other Expenses |
49.510 |
49.031 |
35.314 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
663.545 |
517.819 |
378.092 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
62.887 |
18.781 |
21.264 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.606 |
29.153 |
6.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.281 |
(10.372) |
15.039 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.374 |
6.686 |
6.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
22.907 |
(17.058) |
8.817 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.665) |
4.392 |
(0.441) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
23.572 |
(21.450) |
9.258 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
157.15 |
(143.00) |
61.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.24
|
(3.99) |
2.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.16
|
(3.21) |
2.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.19
|
(1.31) |
0.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
(0.84) |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.52
|
8.05 |
2.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
1.13 |
1.05 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particulars |
31.03.2013 (Provisional) |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
From Directors |
44.300 |
44.300 |
|
From Other Parties |
179.942 |
83.114 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Deposits |
12.835 |
5.990 |
|
Other Loans and Advance |
0.000 |
22.490 |
|
|
|
|
|
Total |
237.077 |
155.894 |
------------------------------------------------------------------------------------------------------------------------------
PROFIT & LOSS ACCOUNT
(RS. IN MILLIONS)
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(Projected) |
||
|
|
|
|
|
|
Operating Income |
312.500 |
392.600 |
1295.000 |
|
Total Income |
312.500 |
392.600 |
1295.000 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of Construction |
219.100 |
275.300 |
908.100 |
|
Interest/ Finance Expenses |
17.000 |
21.400 |
70.500 |
|
Total Expenditure |
236.100 |
296.600 |
978.600 |
|
|
|
|
|
|
Profit before Tax |
76.300 |
95.900 |
316.400 |
|
|
|
|
|
|
Provision for Taxation |
-- |
-- |
-- |
|
|
|
|
|
|
Profit after Tax |
76.300 |
95.900 |
316.400 |
------------------------------------------------------------------------------------------------------------------------------
(RS. IN MILLIONS)
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(Projected) |
||
|
|
|
|
|
|
Shareholders' Funds |
|
|
|
|
Promoter Contribution |
340.000 |
340.000 |
340.000 |
|
Share Application Money |
0.000 |
0.000 |
0.000 |
|
Reserves & Surplus |
|
|
|
|
- Shares Premium |
0.000 |
0.000 |
0.000 |
|
- P&L Surplus |
128.679 |
224.597 |
541.015 |
|
|
|
|
|
|
Loan Funds |
|
|
|
|
Secured Loans |
400.000 |
400.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Total |
868.679 |
964.597 |
881.015 |
|
|
|
|
|
|
Current Assets, Loans and Advances |
|
|
|
|
Cash & Bank Balances |
69.892 |
81.917 |
881.015 |
|
Sundry Debtors |
23.123 |
55.719 |
0.000 |
|
WIP |
775.664 |
826.961 |
0.000 |
|
Loans, Advances & Other Current Assets |
0.000 |
0.000 |
0.000 |
|
Margin Money FDR |
|
|
|
|
|
|
|
|
|
Less : Current Liabilities & Provisions |
|
|
|
|
Advance from Customers |
0.000 |
0.000 |
0.000 |
|
Expenses Payable |
0.000 |
0.000 |
0.000 |
|
Other Current Liab/Creditors |
|
|
|
|
Net Current Assets |
868.679 |
964.597 |
881.015 |
|
Branch /Divisions |
|
|
|
|
|
|
|
|
|
Total |
868.679 |
964.597 |
881.015 |
------------------------------------------------------------------------------------------------------------------------------
CASH FLOW STATEMENT
(RS. IN MILLIONS)
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(Projected) |
||
|
|
|
|
|
|
Receipt from sale of |
|
|
|
|
Inflow from Sale |
187.370 |
3599.64 |
1350.711 |
|
Other Receipts |
0.000 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
|
Total (A) |
187.370 |
359.964 |
1350.711 |
|
|
|
|
|
|
Addition of New Term Loan |
4000.000 |
0.000 |
0.000 |
|
Equity Contribution & Internal accrual |
133.094 |
0.000 |
0.000 |
|
Unsecured
Loan |
0.000 |
0.000 |
0.000 |
|
Total (B) |
533.094 |
0.000 |
0.000 |
|
|
|
|
|
|
Total Inflow (A+B) |
720.464 |
359.964 |
1350.711 |
|
|
|
|
|
|
Check |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
CASH OUTFLOW |
|
|
|
|
Construction Cost |
425.471 |
255.283 |
107.957 |
|
Repayment of New Term Loan |
0.000 |
0.000 |
400.000 |
|
Land Acquisition Cost |
0.000 |
0.000 |
0.000 |
|
EDC Payment (including Interest) |
86.446 |
0.000 |
0.000 |
|
Other Costs |
105.123 |
34.656 |
14.656 |
|
Payment of Interest on New TL |
33.531 |
58.000 |
29.000 |
|
Advance to Suppliers |
0.000 |
0.000 |
0.000 |
|
Total |
6505.72 |
3479.39 |
5516.13 |
|
|
|
|
|
|
Payment of Tax |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Total Outflow |
650.572 |
347.939 |
551.613 |
|
|
|
|
|
|
Opening Balance |
0.000 |
69.892 |
81.917 |
|
|
|
|
|
|
Closing Balance |
69.892 |
81.917 |
881.015 |
------------------------------------------------------------------------------------------------------------------------------
|
DSCR Calculation |
Year 2016 |
|
Advance |
1350.711 |
|
New Loan |
0.000 |
|
Equity |
0.000 |
|
Construction Cost |
122.613 |
|
Interest |
29.000 |
|
Sub-Total (A) |
1379.711 |
|
|
|
|
Repayment of New Term Loan |
400.000 |
|
Interest |
29.000 |
|
|
|
|
Sub-Total (B) |
429.000 |
|
|
|
|
DSCR (A/B) |
3.22 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT AS ON
MARCH 31, 2012
MR.
ASHISH SETH - DIRECTOR
(RS. IN MILLIONS)
|
PARTICULARS |
VALUE |
MARKET VALUE |
|
|
(Estimated) |
|
|
ASSETS |
|
|
|
1 IMMOVABLE PROPERTIES |
|
|
|
Factory land and building |
-- |
-- |
|
Agricultural |
-- |
-- |
|
Land Farm |
-- |
-- |
|
Houses |
-- |
-- |
|
Shops |
-- |
-- |
|
Flats |
48.252 |
70.000 |
|
Villas |
-- |
-- |
|
Apartments |
-- |
-- |
|
Total
|
48.252 |
70.000 |
|
|
|
|
|
2 INVESTMENTS |
|
|
|
Shares in Companies (Listed) |
0.010 |
0.010 |
|
Shares in Companies (Un-Listed) |
5.707 |
5.707 |
|
Debentures in Companies |
-- |
-- |
|
Preference Shares in Companies |
-- |
-- |
|
Bonds |
-- |
-- |
|
LIC |
-- |
-- |
|
PPF |
-- |
-- |
|
NSC |
-- |
-- |
|
KVP |
-- |
-- |
|
Fixed Deposits |
-- |
-- |
|
Investment in Mutual Funds |
-- |
-- |
|
Total |
5.717 |
5.717 |
|
|
|
|
|
3 PERSONAL EFFECTS |
|
|
|
Jewellery / Personal Effects |
27.500 |
30.000 |
|
Total
|
27.500 |
30.000 |
|
|
|
|
|
4 CAPITAL INVESTMENT IN
PARTNERSHIP FIRMS & HUF |
-- |
-- |
|
|
|
|
|
5 OTHER CURRENT ASSETS |
|
|
|
Cash in Hand |
1.644 |
1.644 |
|
Bank Balance |
0.108 |
0.108 |
|
Loans and Advances |
0.621 |
0.621 |
|
|
2.373 |
2.373 |
|
|
|
|
|
TOTAL ASSETS (A) |
83.842 |
108.090 |
|
|
||
|
LESS: LIABILITIES |
|
|
|
|
|
|
|
Bank Loan |
-- |
-- |
|
Personal Loan |
-- |
-- |
|
Car Loans |
-- |
-- |
|
Other unsecured Loan |
58.978 |
58.978 |
|
Total |
58.978 |
58.978 |
|
|
|
|
|
TOTAL LIABILITIES (B) |
58.978 |
58.978 |
|
|
||
|
NET CREDIT WORTH (A-B) |
24.864 |
49.112 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT AS ON
MARCH 31, 2012
MR.
SURENDER SETH - DIRECTOR
(RS. IN MILLIONS)
|
PARTICULARS |
VALUE |
MARKET VALUE |
|
|
(Estimated) |
|
|
ASSETS |
|
|
|
1 IMMOVABLE PROPERTIES |
|
|
|
Factory land and building |
-- |
-- |
|
Agricultural Land |
-- |
-- |
|
Farm Houses |
2.738 |
1750.000 |
|
Shops |
-- |
-- |
|
Flats |
-- |
-- |
|
Villas |
-- |
-- |
|
Apartments |
-- |
-- |
|
Total
|
2.738 |
1750.000 |
|
|
|
|
|
2 INVESTMENTS |
|
|
|
Shares in Companies (Listed) |
1.052 |
1.000 |
|
Shares in Companies (Un-Listed) |
9.710 |
9.710 |
|
Debentures in Companies |
-- |
-- |
|
Preference Shares in Companies |
-- |
-- |
|
Bonds |
-- |
-- |
|
LIC |
0.104 |
0.104 |
|
PPF |
-- |
-- |
|
NSC |
-- |
-- |
|
KVP |
-- |
-- |
|
Fixed Deposits |
0.436 |
0.436 |
|
Investment in Mutual Funds |
-- |
-- |
|
Total |
11.302 |
11.250 |
|
|
|
|
|
3 PERSONAL EFFECTS |
|
|
|
Jewellery / Personal Effects |
35.000 |
40.000 |
|
Total
|
35.000 |
40.000 |
|
|
|
|
|
4 CAPITAL INVESTMENT IN
PARTNERSHIP FIRMS & HUF |
-- |
-- |
|
|
|
|
|
5 OTHER CURRENT ASSETS |
|
|
|
Cash in Hand |
0.082 |
0.082 |
|
Bank Balance |
1.023 |
1.023 |
|
Loans and Advances |
74.519 |
74.519 |
|
Total |
75.624 |
75.624 |
|
|
|
|
|
TOTAL ASSETS (A) |
124.664 |
1876.874 |
|
|
||
|
LESS: LIABILITIES |
|
|
|
|
|
|
|
Bank Loan |
-- |
-- |
|
Personal Loan |
-- |
-- |
|
Car Loans |
-- |
-- |
|
Other unsecured Loan |
79.191 |
79.191 |
|
Total |
79.191 |
79.191 |
|
|
|
|
|
TOTAL LIABILITIES (B) |
79.191 |
79.191 |
|
|
||
|
NET CREDIT WORTH (A-B) |
45.473 |
1797.683 |
------------------------------------------------------------------------------------------------------------------------------
EXECUTIVE SUMMARY
|
ABOUT THE COMPANY |
Company is the main flagship company of Ferrous Group. Company has good
experience in the construction industry in terms of design and turnover. It
has core expertise in developing housing projects. Company has worked with
best architectural talent in the industry and derives satisfaction from
recognitions received for its commitment to timely delivery, quality and
international standards of construction, execution and development. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Director’s Profile: |
1.
Mr.
Surender Seth: Surender Seth is a Director of Ferrous Infrastructure Private Limited.
He received Master’s Degree in Economics from Delhi University in 1970. He
has more than 40 years of experience. He started his own forging business
under the name of Ferrous Alloy Forgings Private Limited. He switched to Real
Estate Business in 2002. 2.
Mr.
Ashish Seth: Ashish Seth is a Chairman and Managing Director in Ferrous
Infrastructure Private Limited. He received an Honours Degree in Commerce
from Delhi University. He has more than 10 years of experience. He started
his own venture under the name of Ferrous Forgings Limited and switched to
Real Estate Business in 2002. He is actively involved in procurement of land
and exploring the opportunities for project developments. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
About the Group |
With a dazzling background of
stupendous accomplishments in different sectors, and exceptional growth
patterns over the years, the group is focused on creating an indelible and
long-lasting mark in the world of real estate. A multifaceted enterprise
pursuing diverse business goals, the Ferrous group has significantly
surpassed ongoing trends in the industry, with its devotion to precision and
steadfast adherence to the core values of exceptional quality, consistent
innovation and unswerving trust. The Ferrous group plans to bring about a transformation in the real
estate industry, with numerous Townships, Cyber Parks, Commercial Malls and
Group housing Schemes. And the transformation has already begun. Group commenced Real Estate business in 2002. Main group companies are closely held companies namely • Ferrous
Infrastructure Private Limited • Ferrous Township
Private Limited The group has an excellent track record. It has worked with best
architectural talent in the industry and derives satisfaction from
recognitions received for its commitment to timely delivery, quality and
international standards of construction, execution and development. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
About the
Project |
Ferrous Infrastructure is developing
Residential Group Housing Colony on the land admeasuring 10.14 acres approx
in sector 19, Daruhera. Total Saleable area of the project would be 8,62,584
sq ft and will have 828 residential units of different sizes and shapes
including 128 EWS and commercial plaza of 3250 Sq Ft. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Location of
Project |
·
Situated in
the heart of Daruhera ·
Located in
close proximity to NH-8 and new commercial development. ·
40 minutes
drive from Domestic and International Airport ·
30 mins
drive from IFFCO Chowk |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Area Details |
Details of the Area is as under:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Unit Details |
Details of Units are as under:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Present Status
of Project |
Status of the Project as on date is given hereunder: ·
Land has already been acquired ·
All the approvals are in place ·
Company is already developing the
project and has completed around 30% of construction by Mar, 2013. ·
Company is developing 6 towers
with the name Tower O, P, A, D and Block (G+2) and Block (S+5) out of these
company has started constructing Tower O&P&A and also 2 Blocks. ·
Company is going to start the
construction of Tower D very soon. ·
Company has already booked
units around 40% of the whole project and 60% of the launched units. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Present Status
of other Real Estate Projects of the Company |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Past Completed
Projects |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Cost of
Project |
The detailed cost of the project is of Rs.1673.200 Millions is as under (INR In
Millions)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Means of Finance |
(INR Millions)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities
Desired |
Fund Based Limit Company required Rs.400.000 Millions Term Loan |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Purpose of
Facility |
To part finance the group housing residential project developing at
Sector 19, Daruhera at the project land of 10.14 acres |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Rate of Interest |
Base Rate + 2.00% |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Processing Fee |
50% of Applicable Fee |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Tenor |
Door to Door 36 months. ·
Disbursement
– 4 Qtrs; ·
Moratorium
Period – 4 Qtrs after disbursement period ·
Repayment
Period - 4 Qtrs after repayment period |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Security |
Primary Security ·
Charge on the Project Land of 10.14 acres at Sec-19,
Daruherra and the construction thereof Personal
Guarantee: (INR In
Millions)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Debt Service
Coverage Ratio |
3.22 |
With a dazzling background of stupendous accomplishments in different
sectors, and exceptional growth patterns over the years, the group is now
focused on creating an indelible and long-lasting mark in the world of real
estate. A multifaceted enterprise pursuing diverse business goals, the Ferrous
group has significantly surpassed ongoing trends in the industry, with its
devotion to precision and steadfast adherence to the core values of exceptional
quality, consistent innovation and unswerving trust.
The Ferrous group plans to bring about a transformation in the real
estate industry, with numerous Townships, Cyber Parks, Commercial Malls and
Group housing Schemes. And the transformation has already begun.
At Ferrous, quality is the precursor to every action and customer
satisfaction - the impetus. Multifarious aspects underpin their business
approach, the prime being their unwavering dedication to complete Customer
satisfaction. They are sticklers for quality and nothing less than the finest
satiates their urge for exactitude and precision. Indeed, the group's
longstanding associations with clients vindicate its resolve to provide
unmatched quality and exceptional services in all its endeavors. The client
list comprises of pre-eminent national and global organizations such as
Mercedes, Ferrari, General Motors, Ford, Ashok Leyland, Telco, Escorts, and
many more.
Group commenced Real Estate business in 2002.
Main group companies are closely held companies namely
• Ferrous Infrastructure Private Limited
• Ferrous Township Private Limited
The group has an excellent track record. It has worked with best
architectural talent in the industry and derives satisfaction from recognitions
received for its commitment to timely delivery, quality and international standards
of construction, execution and development.
INDUSTRY
SCENARIO
- About The Industry
The real estate sector in India assumed greater prominence with the
liberalisation of the economy, as the consequent increase in business
opportunities and labour migration led to rising demand for commercial and
housing space. At present, the real estate and construction sectors are playing
a crucial role in the overall development of India’s core infrastructure. The
real estate industry’s growth is linked to developments in the retail,
hospitality and entertainment (hotels, resorts, cinema theatres) industries,
economic services (hospitals, schools) and information technology (IT)- enabled
services (like call centres) etc and vice versa.
The Indian real estate sector has traditionally been dominated by a
number of small regional players with relatively low levels of expertise and/or
financial resources. Historically, the sector has not benefited from
institutional capital; instead, it has traditionally tapped high net-worth
individuals and other informal sources of financing, which has led to low
levels of transparency. This scenario underwent a change with in line with the
sector’s growth, and as of today, the real estate industry’s dynamics reflect
consumers’ expectations of higher quality with India’s increasing integration
with the global economy.
Residential real estate industry has witnessed stupendous growth in the
past few years owing to the following reasons:
· Continuous growth in population
· Migration towards urban areas
· Ample job opportunities in service sectors
· Growing income levels
· Rise in nuclear families
· Easy availability of finance
Demand for houses increased considerably whilst supply of houses could
not keep pace with demand thereby leading to a steep rise in residential
capital values especially in urban areas.
In spite of the stupendous growth witnessed in the past 10 years,
substantial housing shortage is still prevalent in India. According to CRISIL
Research, housing shortage in India is estimated at 78.7 million units at the
end of Phase II. The overall housing shortage in India is likely to decline to
75.5 million units.
CRISIL Research expects housing shortage to decrease due to the
government’s thrust on improving rural housing by providing houses to the
homeless under various development schemes and by enabling slum redevelopment
programmes in urban areas under Jawaharlal Nehru National Urban Renewal Mission
(JNNURM).
However, housing shortage in urban areas will continue to rise owing to
migration towards urban areas and increasing trend of nuclear families. Housing
shortage in urban areas is estimated at 19.3 million units at the end of 2008,
up from 15.1 million units at the start of 2005. Housing shortage in urban
areas is likely to touch a walloping 21.7 million units by the end of 2014.
Rural areas, on the other hand, will witness a reduction in housing
shortage due to migration and conversion of kutcha houses into pucca houses.
The government’s continuous focus on improving the housing situation,
especially for population below poverty line, under schemes like Indira Awaas
Yojna, Rajeev Gandhi Aawaas Yojna, Two Million Housing Programme, is expected
to reduce housing shortage in rural areas. Rural housing shortage is expected
to decline to 53.8 million units by 2013-14 from 59.4 million units at the end
of 2008.
The real estate sector in India is on a rapid growth trajectory. Over a
short span of time, the industry has evolved from a highly fragmented and
unorganized market into a semi-organized market, with a large number of listed
companies. Real Estate Industry in India is supposed to reach the size of USD
180 billion by the end of 2010. FDI of up to 100 % is allowed under the
automatic route in most asset classes. Due to high growth in the services
sector - telecom, financial services, IT & ITeS, etc., there is a growing
demand for affordable housing and high rate of urbanization. The Indian
Government and private developers, realizing the growing demand for affordable
housing, are strongly focusing on affordable housing.
At present Real Estate Industry Contributes to 5% of the total GDP of
India. The major players in the sector are DLF, Unitech, Ansal Properties,
Parsavnath, Amrapali etc. After 2008-2009 global economic slowdowns, the Indian
Real Estate Industry is now charting a path to recovery.
With the demand for
residential, commercial and retail space zooming against a rapidly diminishing
land mass, it’s the suburbs of most Indian metros and Tier II cities like
Mumbai, Delhi, NCR, Bangalore, Chennai, Hyderabad and Kolkata that are
currently witnessing a bulk of the frenzied development, as developers scramble
to cater to the booming demand lured by the easier availability of prime real
estate at affordable rates, improved connectivity, better infrastructure
facilities and the promise of a rewarding future.
NCR is witnessing
considerable activity due to relatively less expensive land prices (compared to
Delhi), improved infrastructure development and the movement of IT and ITES
companies out of Delhi and into NCR. Accordingly the suburbs like Gurgaon,
Noida, Greater Noida, Manesar, Daruhera, Faridabad, Ghaziabad, Dwarka, Palam,
Pitampura and Sonepat etc are expected to do very well in the future.
In Gurgaon alone
property prices have risen by an astounding 150 per cent since 2003. The launch
connection to Metro not only served to ease the Gurgaon’s travel woes to Delhi and NCR, the prices have also increased
by about 60-100 per cent in the last three years, with most of the rise taking
place in the last two year.
Demand in Suburban
locations, like Gurgaon, Dharuhera, Faridabad and Noida has seen a substantial
increase as corporate have started planning their real estate needs and
relocation strategies well in advance and pre committing to legal office space.
Rental and capital values saw a rise of approximately 5 - 10%.
The growing demand
for campus styled developments by companies looking at consolidating their
operations is another emerging trend. Several companies have acquired large
land parcels in Gurgaon-Manaser-Palway Expressway, Manesar, Sohna, Dharuhera,
Noida and Greater Noida for such development.
Dharuhera is a census town in Rewari Tehsil of Rewari District in the State of Haryana, India. Dharuhera comes under Delhi NCR region and it is an industrial hub. It was founded by Choudhary Nand Ram, a Yaduvanshi Ahir ruler of Rewari. The family of Rao Sahibs is dominant in terms of the size of land holdings since its foundation, also referred to as zaildar/ zamindar in the town. Dharuhera is included as the new growth corridors in Gurgaon. It lies on NH8 (Delhi-Jaipur national highway) about 70 km from Delhi. Distance from Gurgaon to Dharuhera is only 30 km.
The economy of Dharuhera was mainly agrarian until recently. Dharuhera industrial estate has provided some employment to the local persons. Of late, much of the agricultural land has been bought by real estate developers as the urbanisation and construction activity extends from Gurgaon towards Rewari. Dharuhera is now a preferred location for investors in real estate and built properties.
Dharuhera industrial estate is located on both sides of NH8 and has many large manufacturing plants such as Hero Honda motorcycles and DELPHI Automotive Systems Private Limited (A Global MNC). India’s biggest dairy plant Amul is also in Dharuhera, Carlsberg beer factory, Lumax Industries Limited, Rico Auto Industries.
Dharuhera is about 40 minutes drive from Gurgaon and 60 minutes from Indira Gandhi International Airport. Due to its proximity with Gurgaon and New Delhi, Dharuhera has all the makings of the next big satellite city in the region, with a number of developers running projects here.
Due to its proximity with Gurgaon and New Delhi, it has all the makings of the next big satellite city in the region with a number of developers have running projects and having ambitious plans to convert the landscape through the development of fully integrated townships with all conceivable amenities and facilities backed by world class infrastructure.
Heavy Development is going around the area including widening work of NH-8 (from 4 lanes to 8 lanes) which is on near completion. Kundli-Manesar-Palwal Express Highway (KMP) construction and development work is already in full swing, and the construction and development work of 75 meter wide outer peripheral road connecting NH-8 to Sohna Road (Land acquisition, possession and compensation of the land i.e. notification U/s. 4, 6 and 9 of the Land Acquisition Act 1894 already completed), construction is likely to be started soon. Also upcoming is a 4 lane road connecting Shajapur border with Kalanaur and Kundli, providing smooth connectivity between these industrial places.
Some of the major real estate developers in
Dharuhera are:
· Vatika
· Unitech
· Vipul
· Lotus Green city
· Piyush Horizon
· Avalon Rangoli
· Parsvnath
· Armada Residency
· Raheja Developers
· Bestech Parkview Delight
· M2K Freedom Apartments
· Tivoli Holiday Village
· Dwarkadhish
· Avalon
· Emaar Properties
The company requires
the following credit facilities:
|
Facility |
Amount |
Margin
(%) |
|
Term Loan |
40.00 |
23.91% |
Ferrous Infrastructure is developing Residential Group Housing Colony on the land admeasuring 10.14 acres approx in sector 19, Daruhera. Total Saleable area of the project would be 8 62,584 sq ft and will have 828 residential units of different sizes and shapes including 128 EWS and commercial plaza of 3250 Sq Ft.
The project is located in Daruheda, Haryana.
Dharuhera is about 30 minutes drive from Gurgaon and 40 minutes
from Indira Gandhi International Airport. Due to its proximity with
Gurgaon and New Delhi, Dharuhera has all the makings of the next big
satellite city in the region, with a number of developers running projects here
The economy of Dharuhera was mainly agrarian
until recently. Dharuhera industrial estate has provided some employment to the
local persons. Of late, much of the agricultural land has been bought by real
estate developers as the urbanization and construction activity extends from
Gurgaon towards Rewari. Dharuhera is now a preferred location for investors in
real estate and built properties. Though there are few concerns from Finance
Minister lately about this acquired land being fertile and shouldn't have been
acquired for residential projects.
Dharuhera industrial estate is located on both
sides of NH8 and has many large manufacturing plants such as Hero
Honda motorcycles and DELPHI Automotive Systems Private Limited (A Global
MNC).India’s biggest dairy plant Amul is also in Dharuhera, Carlsberg beer factory, Lumax Industries
Limited Rico Auto Industries.
·
The project site is nicely located in NCR
region very close to Delhi Jaipur National Highway (NH-8) with comfortable
supporting and neat connectivity by Road, Rail and Air Transport facilities.
·
The residential apartments in Dharuhera are
picking up popularity for the general public with the existence of the Delhi Jaipur
Highway (NH-8), upcoming 75 meter wide outer peripheral road for Dharuhera Town
connecting NH-8 to Sohna Road and KMP expressway providing smooth commutation.
·
KMP expressway is also coming up soon and is
very close to the Project connecting NH-1, 10, 8 and 2 by passing the NCT
Delhi. Upcoming development of this corridor will support number of specialized
economic activities with top class infrastructure facilities.
·
Upcoming Delhi-Mumbai Industrial Corridor
(DMIC) incorporates Nine Mega Industrial Zones of about 200-250 sq. km., high
speed freight line, three ports, and six air ports; a six lane
intersection-free expressway is a mega infra-structure project under Japanese
collaboration attracting a lot of FDI. This high-speed connectivity between Delhi
and Mumbai covering an overall length of 1483 km and passing through the six
States States – U.P., NCR Delhi, Haryana, Rajasthan, Gujarat and Maharashtra,
with end terminals at Dadri in NCR and JNPT near Mumbai offers immense
opportunities for development of an Industrial corridor along with a rapid
transportation service between Delhi-Manesar-Dharuhera-Bawal, Jaipur.
·
Similar to Delhi Metro, NCR Planning Board
has plans to develop Dedicated Railway track to connect Delhi NCR to Rewari,
Panipat, Alwar and Meerut.
·
Work on Rewari – Dharuhera- Bhiwadi- Nuh-
Palwal- Khurja railway track has already been started. & the oldest Railway
Station Rewari Junction is also very close by to the project.
·
Government of Rajasthan is planning to take
Metro train from Manesar to Bhiwadi.
·
Two five star hotels are under construction
with in 5 Km from Project on NH-8
·
The highly reputed Educational institutes DPS
Rewari, Starex International School, Modern Public School, Raman Munjal School
are very close to the project, providing world class education to the young
ones of the workforce.
Company has large network of dealers who are dealing with the company
for many years now. They are capable of marketing the project properly. Company
has already sold out 40% of the total project and 60% of the launched units as
on date.
Company does have in house marketing team headed by Mr. Amit Haryal and
Mr. Vipin Singh having around 10 years of experience in the field of marketing.
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Computer
· Air Conditioner
· Furniture and Fixtures
· Office Equipment
· Lab Equipments
· Motor Car
· Machienry
· Machinery and Equipments
· Furniture and Fixtures
· Computer Software
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 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.60.59 |
|
|
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.