MIRA INFORM REPORT
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Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
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Name : |
MARATHON REALTY |
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Registered
Office : |
702, Marathon Max, Mulund Goregaon Link Road, Mumbai-400080,
Maharashtra |
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Country : |
India |
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Year of
Establishment : |
1969 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Not Divulged |
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Line of Business
: |
Construction Activity |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
B (35) |
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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 |
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Litigation : |
Clear |
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Comments : |
Subject is an established group engaged in construction activities,
predominantly in Thane region. The management declined to part any details.
As gathered from market sources, subject’s operations since to be normal.
Payment are reported to be slow and delayed at times, which is a usual
practice in construction industry. Subject can be considered for business dealings with slight caution,
initially. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 DECLINED
Management non co-operative. [91-22-67248484/8421]
LOCATIONS
|
Registered Office : |
702, Marathon Max, Mulund Goregaon Link Road, Mumbai-400080,
Maharashtra, India |
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Tel. No.: |
91-22-67248484/8421 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
SOLE PROPRIETOR/PARTNERS
NOT DIVULGED
KEY EXECUTIVES
|
Name : |
Mr. Ramniklal Z. Shah |
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Designation : |
Key Person |
BUSINESS DETAILS
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Line of Business : |
Construction Activity |
GENERAL INFORMATION
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No. of Employees : |
Information denied by the management. |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Not Divulged |
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 : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
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 |
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3] |
Constitutions of the firm |
No |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
No |
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8] |
No. of employees |
No |
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9] |
Name of person contacted |
No |
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10] |
Designation of contact person |
No |
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11] |
Turnover of firm for last three years |
No |
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12] |
Profitability for last three years |
No |
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13] |
Reasons for variation <> 20% |
-- |
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14] |
Estimation for coming financial year |
No |
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15] |
Capital in the business |
No |
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16] |
Details of sister concerns |
No |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
No |
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20] |
Export / Import details (if applicable) |
No |
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21] |
Market information |
-- |
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22] |
Litigations that the firm / promoter involved in |
-- |
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23] |
Banking Details |
No |
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24] |
Banking facility details |
No |
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25] |
Conduct of the banking account |
-- |
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26] |
Buyer visit details |
-- |
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27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if applicable |
No |
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29] |
Last accounts filed at ROC |
No |
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30] |
Major Shareholders, if available |
No |
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31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NEWS:
MARATHON LAUNCHES ICON: THE NEWEST ADDITION TO AWARD-WINNING NEXTGEN
CAMPUS:
8 FEBRUARY 2013
Marathon Group launced Marathon Icon, an IT / Commercial project in the heart of Lower Parel. The building is a part of the already developed 7 acre campus called Marathon Nextgen, which includes residential building Era and commercial building Innova, both already occupied and operational.
Marathon is targeting small and medium sized enterprises to move into this new, completely glass cladded building. Marathon has stood apart for its transparency in the industry and to avoid short changing customers in carpet vs super built up area Icon has a usable efficiency of 80%, unmatched by any of the competition. The building will feature a double height entrance lobby and ample parking space. It is a proposed LEED rated Green Building.
Units from 1515 sq.ft. built-up area are available, and a sample office is ready for visits.
PRE-LAUNCH OF MARATHON NEXTOWN: THE LATEST IN THE NEX SERIES OF
TOWNSHIPS:
20 OCTOBER 2012
Marathon continues its foray into township developments with the pre-launch of Marathon Nextown, a 14 acre development in Dombivli. This is a part of the ‘Nex’ series of townships, which are high quality, futuristic developments offered at an affordable cost.
So far only studio (1 Room-Kitchen) and 1BHK apartments have been made available, [incomplete] of them were sold in the first few days after the pre-launch. The township features Spanish architecture and much attention has been given to the aesthetics and facades of the buildings. The amenities offered in this project are at par with the ‘Nex’ standard - swimming pool; children’s play area, landscaped gardens, club house, gym, indoor games room, etc. Nextown will be a gated community with wide internal roads and grand entrance lobbies. It is characterized by well thought out floor plans and designs, which is a hallmark of Marathon Group.
The project is well connected by road and rail, and is a 12 minute drive from Dombivli. It’s location between Thane and Navi Mumbai is highly strategic and makes the project an attractive prospect for appreciation in the future as the surrounding areas get more developed.
MARATHON LAUNCHES
FUTUREX, THE TALLEST COMMERCIAL BUILDING IN India:
8 FEBRUARY 2013
Futurex is Marathon’s most ambitious project till date - at about 170 meters this 38-storeyed high rise will be the tallest commercial building in the entire country. The project is located in the heart of Lower Parel, with Lower Parel and Currey Road stations both within 100 meters of the building. It has more than 1 million square feet of saleable space, 22 high speed elevators and multi-level car parking for over 1000 cars, making it one of the most grand and ambitious commercial projects in the city. As a stand-alone building, its size and scale surpasses any other commercial building in the country.
The project boasts an endless array of amenities and USPs. We can only provide a glimpse of these in this article, a more holistic description is available on the project website. Marathon Futurex will is a gold-rated green building as certified by LEED. The grand entrance lobby, perhaps one of the largest of any building in the city, is a key highlight - triple height, air-conditioned, with a floor cladded in italian marble, the lobby offers a business center, lounge and a cafe providing a five-star hotel like atmosphere. The project boasts large floor plates of up to 65,000 sft with large column free span - features ideal for large scale enterprises. With sky gardens, balconies, water features, multiple banquet areas, and a long list of other amenities, such a product offering seems unmatchable.
Futurex is already home to the headquarters of Tata Strategy Group, L’Oreal, and the Israel Consulate. Marathon has redefined commercial buildings with this highly ambitious project that is sure to change the way people look at Lower Parel and commercial spaces in general.
MARATHON NAGARI
(BADLAPUR) RECEIVES BEST LOW-COST HOUSING APARTMENT AWARD:
AUGUST 11, 2012
Marathon Nagari won the ‘Best Low-Cost Housing Apartment Award’ in the CREDAI Real Estate Awards 2012. Nagari is Marathon’s first effort to create low cost housing and the project’s tremendous success led Marathon to further its development in Badlapur with Nagari NX. Marathon’s foray into Badlapur has had a very significant impact on the real estate in the town as rates have more than tripled since the initial launch of Nagari. Badlapur has become an attractive prospect for developers as well as buyers, with more and more people looking to move into affordable housing in the MMR region.
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 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.55.52 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
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|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.