MIRA INFORM REPORT

1. Summary Information

		Country	INDIA
Company Name	SHAPOORJI PALLONJI AND COMPANY LIMITED	Principal Name 1	MR. SHAPOOR PALLONJI MISTRY
Status	EXCELLENT	Principal Name 2	MR. KHUSHROO BURJOR CAPTAIN
		Registration #	11-003812
Street Address	70, NAGINDAS MASTER ROAD, FORT, MUMBAI – 400 023, MAHARASHTRA
Established Date	23.01.1943	SIC Code	--
Telephone#	91-22-22871040	Business Style 1	CIVIL CONSTRUCTION ACTIVITY
Fax #	91-22-66338176	Business Style 2	--
Homepage	http://www.shapoorji.in	Product Name 1	--
# of employees	NOT DIVULGED	Product Name 2	--
Paid up capital	RS.2,040,204,000/-	Product Name 3	--
Shareholders	BODIES CORPORATE-97.94% DIRECTORS OR RELATIVES OF DIRECTORS-2.06%	Banking	DEUTSCHE BANK
Public Limited Corp.	NO	Business Period	70 YEARS
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	Aa (79)
Related Company
Relation	Country	Company Name	CEO
SUBSIDIARIES (AS ON 31.03.2011)	INDIA	ABHIPREET TRADING PRIVATE LIMITED	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	NA	Current Liabilities	NA
Inventories	NA	Long-term Liabilities	NA
Fixed Assets	NA	Other Liabilities	NA
Deferred Assets	NA	Total Liabilities	NA
Invest& other Assets	NA	Retained Earnings	NA
		Net Worth	NA
Total Assets	NA	Total Liab. & Equity	NA
Total Assets (Previous Year)	55,433,296,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales/ Total Income	41,181,935,000	Net Profit	721,405,000
Sales(Previous yr)/ Total Income	32,206,823,000	Net Profit(Prev.yr)	1,487,181,000

MIRA INFORM REPORT

Report Date :

28.10.2013

IDENTIFICATION DETAILS

Name :	SHAPOORJI PALLONJI AND COMPANY LIMITED

Registered Office :	70, Nagindas Master Road, Fort, Mumbai – 400 023, Maharashtra

Country :	India

Financials (as on) :	31.03.2012 (Profit & Loss A/c)

Date of Incorporation :	23.01.1943

Com. Reg. No.:	11-003812

Capital Investment / Paid-up Capital :	Rs.2040.204 millions

CIN No.: [Company Identification No.]	U45200MH1943PLC003812

TAN No.: [Tax Deduction & Collection Account No.]	MUMS39398C/ MUMS39389A

PAN No.: [Permanent Account No.]	AAACS6994C/ AAACS9383H

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Civil Construction Activity

No. of Employees :	Information denied by the management.

RATING & COMMENTS

MIRA’s Rating :

Aa (79)

RATING

STATUS

PROPOSED CREDIT LINE

71-85

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

Large

Maximum Credit Limit :	USD 42877000

Status :	Excellent

Payment Behaviour :	Regular

Litigation :	Exist

Comments :	Subject is the flagship company of the Shapoorji Pallonji Group. Subject is a well-established and reputed company having a fine track record. There appears some dip in the profits during 2012. However, financial position of the company appears to be sound. Fundamentals are strong and healthy. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as trustworthy. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for business dealings at usual trade terms and conditions.

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 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the trade deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest. The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long Term Loan: AA+
Rating Explanation	High degree of safety and very low credit risk
Date	April, 2013

Rating Agency Name	ICRA
Rating	Commercial Paper: A1+
Rating Explanation	Very strong degree of safety and lowest credit risk
Date	April, 2013

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-cooperative

(Tel. No.: 91-22-22871040)

LOCATIONS

Registered Office :	70, Nagindas Master Road, Fort, Mumbai – 400 023, Maharashtra, India
Tel. No.:	91-22-22871040
Fax No.:	91-22-66338176
E-Mail :	kunal.antani@shapoorji.com prachi.kelkar@shpoorji.com ganesh.iyer@shapoorji.com
Website :	http://www.shapoorji.in

Head/ Administrative Office/ Construction Division/ EPC Division 2/ Real Estate Division :	Shapoorji Pallonji Centre, 41/44, MINOO Desai Marg, Colaba, Mumbai – 400 005, Maharashtra, India
Tel. No.:	91-22-22871040/ 41/ 22870197/ 67490000
Fax No.:	91-22-66338176
E-Mail :	rahul@bom2.vsnl.net.in kunal.antani@shapoorji.com roshen@shapoorji.com

Corporate Office :	36, 2^nd Floor, 1^st Main Road, CIT Nagar, Above SBI Bank, Chennai, Tamilnadu, India
Tel. No.:	91-44-24341555

EPC Division 2 :	Mira Tower, 2^nd Floor, DN-27, Sector V, Salt Lake, Kolkata – 700 091, West Bengal, India
Tel No.:	91-33-66111200
Fax No.:	91-33-23675248/ 66336442

Email :	atanu.ranjan@shapoorji.com (Mr. Atanu Ranjan)

Design and Build Division :	Contractor Building, Basement, Ramjeebhai Kamani Marg, Ballard Estate, Mumbai – 400 038, Maharashtra, India
Tel No.:	91-22-66233600
Fax No.:	91--22-66233563
Email :	paras.vishwakarma@shapoorji.com (Mr. Vishvakarma)

Human Resources Department :	Gresham House, 4^th Floor, Sir PM Road, Fort, Mumbai – 400 001, Maharashtra, India
Tel. No.:	91-22-67490000
Fax No.:	91-22-22662997
Email :	hrd@shapoorji.com

Showroom :	54, Abdul Rehman Street, Mumbai – 400 003, Maharashtra, India
Tel. No.:	91-22-23421770
Fax No.:	91-22-23421517

Design and Build Office :	Design and Build Contractor Building, 1^st Floor, Ramjibhai Kamani Marg, Ballared estate, Mumbai – 400 038, Maharashtra, India
Tel No.:	91-22-66233500
Fax No.:	91-22-66233533

Regional Offices :	Located at: · Ahmedabad · Bangalore · Chennai · Delhi · Hyderabad · Kolkata · Mumbai · Nagpur · Nasik · Pune

Overseas Office:	Located at: · Dubai · Abu Dhabi · Kuwait · Algeria · Ghana · Saudi · Qatar · Libya · Sri Lanka

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Shapoor Pallonji Mistry

Designation :

Managing Director

Address :

Sterling Bay, 103, Walkeshwar Road, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

06.09.1964

Qualification :

B.A. (England) Business and Economics Richmond College, London

Date of Appointment :

29.09.2009

DIN No.:

00010114

PAN No.:

AAEPM2061M

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U28100MH1920PLC000807	UNITED MOTORS (INDIA) LIMITED	Director	16/03/1983	16/03/1983	10/11/2011	Active	NO
2	U01211MH1939PTC003017	THE MANJRI STUD FARM PRIVATE LIMITED	Director	21/07/1986	21/07/1986	11/03/2009	Active	NO
3	U45200MH1943PLC003812	SHAPOORJI PALLONJI AND COMPANY LIMITED	Managing director	29/09/2009	22/04/1987	-	Active	NO
4	U65920MH1994PLC077480	SHAPOORJI PALLONJI FINANCE LIMITED	Director	04/04/1994	04/04/1994	-	Active	NO
5	U31100MH1995PLC084278	SHAPOORJI PALLONJI POWER COMPANY LIMITED	Director	16/01/1995	16/01/1995	-	Active	NO
6	U65920MH1923PTC001053	CYRUS INVESTMENTS PRIVATE LIMITED	Director	17/11/1995	17/11/1995	-	Active	NO
7	U70100MH1943PTC003997	STERLING INVESTMENT CORPORATION PRIVATE LIMITED	Director	17/11/1995	17/11/1995	-	Active	NO
8	U45200MH1951PTC008529	PALLONJI SHAPOORJI AND COMPANY PRIVATE LIMITED	Director	17/11/1995	17/11/1995	-	Active	NO
9	U99999MH1942PTC019618	SHAPOORJI PALLONJI AND COMPANY (RAJKOT) PRIVATE LIMITED	Director	20/11/1995	20/11/1995	-	Amalgamated	NO
10	U65990MH1997PLC108596	SHAPOORJI PALLONJI INFRASTRUCTURE CAPITAL COMPANY LIMITED	Director	06/11/1997	06/11/1997	-	Active	NO
11	U40109TN1995PTC033944	SAMALPATTI POWER COMPANY PRIVATE LIMITED	Director	04/12/1999	04/12/1999	-	Active	NO
12	L17110MH1919PLC000628	FORBES AND COMPANY LIMITED	Director	03/09/2001	03/09/2001	-	Active	NO
13	U27109WB1931PLC007010	EUREKA FORBES LTD	Director	15/03/2002	15/03/2002	-	Active	NO
14	U70200MH2003PLC139672	NUEVO CONSULTANCY SERVICES LIMITED	Director	28/03/2003	28/03/2003	20/06/2011	Active	NO
15	L74999MH1902PLC000183	THE INDIAN HOTELS COMPANY LIMITED	Director	17/04/2003	17/04/2003	-	Active	NO
16	U24232PN2003PTC017981	SOVEREIGN PHARMA PRIVATE LIMITED	Director	28/05/2003	28/05/2003	-	Active	NO
17	U11200MH2005PTC154716	S P OIL EXPLORATION PRIVATE LIMITED	Director	12/07/2005	12/07/2005	-	Active	NO
18	U55100MH1977PLC019660	FORVOL INTERNATIONAL SERVICES LIMITED	Director	19/08/2006	19/08/2006	-	Active	NO
19	L17116KA2006PLC038839	GOKAK TEXTILES LIMITED	Director	13/08/2007	29/11/2006	-	Active	NO
20	U45200MH1976PLC019335	AFCONS INFRASTRUCTURE LIMITED	Director	23/03/2012	20/12/2006	-	Active	NO
21	U35100MH2006PLC159958	FORBES BUMI ARMADA LIMITED	Director	28/09/2007	28/09/2007	18/12/2008	Active	NO
22	U74120MH2010PTC205291	SOVEREIGNTY PHARMA PRIVATE LIMITED	Director	06/07/2010	06/07/2010	-	Active	NO
23	U40103KA2012PLC062107	GOKAK POWER AND ENERGY LIMITED	Director	17/01/2012	17/01/2012	-	Active	NO

Name :

Mr. Khushroo Burjor Captain

Designation :

Director

Address :

D/4, Palm Springs, 157, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

24.04.1930

Qualification :

B.A. LLB

Date of Appointment :

18.07.1984

DIN No.:

00007518

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65920MH1923PTC001053	CYRUS INVESTMENTS PRIVATE LIMITED	Director	20/12/1974	20/12/1974	-	Active	NO
2	U51900MH1944PTC020365	SHAPOORJI PALLONJI (GWALIOR) PRIVATE LIMITED	Director	23/12/1974	23/12/1974	-	Active	NO
3	U45200MH1943PLC003812	SHAPOORJI PALLONJI AND COMPANY LIMITED	Director	18/07/1984	18/07/1984	-	Active	NO
4	U65990MH1985PTC035404	BLUE ARROW FINANCE CO PRIVATE LIMITED	Director	03/03/1985	03/03/1985	21/05/2012	Active	NO
5	U24100MH1949PTC007765	THE SWADESHI CHEMICALS PRIVATE LIMITED	Director	24/08/1989	24/08/1989	-	Amalgamated	NO
6	U67120MH1979PTC021789	ANAND INVESTMENT PRIVATE LIMITED	Director	27/07/1990	27/07/1990	-	Active	NO
7	U51909MH1962PTC012486	ANAND AGENCIES PRIVATE LIMITED	Director	01/10/1990	01/10/1990	-	Active	NO
8	U11200MH1984PTC034108	SHAPOORJI DRILLING ENTERPRISE PRIVATE LIMITED	Director	01/10/1990	01/10/1990	-	Active	NO
9	U51101MH1943PTC003837	SHAPOORJI AND COMPANY PRIVATE LIMITED	Director	01/10/1990	01/10/1990	-	Active	NO
10	U65990MH1991PTC063703	DELNA FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	22/10/1991	22/10/1991	21/05/2012	Active	NO
11	U45402MH1980PTC022283	S P KAM SYNTHETICS PRIVATE LIMITED	Director	11/02/1992	11/02/1992	-	Active	NO
12	U74999MH1985PTC037814	SHAPOORJI DATA PROCESSING PRIVATE LIMITED	Director	12/06/1992	12/06/1992	-	Active	NO
13	U51900AP1979PTC081529	STERLING OVERSEAS IMPEX PRIVATE LIMITED	Director	09/11/1992	09/11/1992	11/04/2012	Active	NO
14	U65990MH1988PTC049620	ABHIPREET TRADING PRIVATE LIMITED	Director	16/04/1993	16/04/1993	29/12/2011	Active	NO
15	U55200MH1993PTC072856	SHAPOORJI HOTELS PRIVATE LIMITED	Director	14/07/1993	14/07/1993	-	Active	NO
16	U67120MH1991PTC062660	KAVISHA HOLDINGS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	-	Active	NO
17	U29120MH1994PTC080361	SHAPOORJI PALLONJI PIPELINES ENGINEERING COMPANY PRIVATE LIMITED	Director	16/08/1994	16/08/1994	-	Active	NO
18	U26100MH1994PTC083938	SCHOTT KAISHA PRIVATE LIMITED	Director	21/12/1994	21/12/1994	14/05/2008	Active	NO
19	U65990MH1989PTC052411	BLUE RIBBON FINANCE AND INVESTMENT PRIVATE LIMITED	Director	16/05/1995	16/05/1995	21/05/2012	Active	NO
20	U25209MH1992PTC069161	MACHINOGRAPH POLYCONTAINERS (INDIA) PRIVATE LIMITED	Director	30/05/1995	30/05/1995	-	Active	NO
21	U67120MH1993PTC073102	S P ARCHITECTURAL COATINGS PRIVATE LIMITED	Director	02/05/1997	02/05/1997	-	Active	NO
22	U65993MH1998PTC113592	CAMA PROPERTIES PRIVATE LIMITED	Director	17/02/1998	17/02/1998	-	Amalgamated	NO
23	U70100MH1998PTC114759	MERILAND ESTATES PRIVATE LIMITED	Director	04/05/1998	04/05/1998	01/04/2011	Active	NO
24	U70100MH1998PTC114764	GRAND VIEW ESTATES PRIVATE LIMITED	Director	29/09/2009	04/05/1998	01/12/2009	Active	NO
25	U65990MH1979PTC021792	FINVESTCO INVESTMENTS PRIVATE LIMITED	Director	30/12/1998	30/12/1998	-	Amalgamated	NO
26	U67120MH1995PTC084748	ADARO SECURITIES PRIVATE LIMITED	Director	24/02/1999	24/02/1999	21/05/2012	Active	NO
27	U51900MH1998PTC116292	WALRUS TRADING COMPANY PRIVATE LIMITED	Director	25/02/1999	25/02/1999	-	Active	NO
28	U70100MH1998PTC114760	FAYLAND ESTATES PRIVATE LIMITED	Director	15/06/1999	15/06/1999	-	Active	NO
29	U51432MH1999PTC121951	SHARUS BUILDING SERVICES INDIA PRIVATE LIMITED	Director	27/09/1999	27/09/1999	-	Active	NO
30	U65970MH1989PTC050953	FLOTILLA FINANCE PRIVATE LIMITED	Director	05/09/2002	05/09/2002	21/05/2012	Active	NO
31	U71120MH2003PTC140411	SHAPOORJI PALLONJI PORTS PRIVATE LIMITED	Director	12/05/2003	12/05/2003	-	Active	NO
32	U70200MH1995PTC084876	SHACHIN REAL ESTATES PRIVATE LIMITED	Director	05/01/2007	05/01/2007	-	Active	NO
33	U65990MH1989PTC050954	FLORAL FINANCE PRIVATE LIMITED	Director	30/09/2008	22/10/2007	21/05/2012	Active	NO
34	U65990MH2008PTC177365	MALABAR TRUSTEE COMPANY PRIVATE LIMITED	Director	04/01/2008	04/01/2008	-	Active	NO

Name :

Mr. Firoze Kavshah Bhathena

Designation :

Whole Time Director

Address :

C/203, Shapoorji Pallonji Mistry Building, Dr. D.K. Shirodkar Road, Parel, Mumbai – 400 012, Maharashtra, India

Date of Birth/Age :

18.07.1948

Qualification :

B. Com., M. Com

Date of Appointment :

31.08.2009

DIN No.:

00010075

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24110MH1978PTC020720	CYRUS CHEMICALS PRIVATE LIMITED	Director	01/07/1980	01/07/1980	-	Active	NO
2	U45200MH1943PLC003812	SHAPOORJI PALLONJI AND COMPANY LIMITED	Whole-time director	31/08/2009	18/07/1984	-	Active	NO
3	U24100MH1949PTC007765	THE SWADESHI CHEMICALS PRIVATE LIMITED	Director	27/07/1984	27/07/1984	-	Amalgamated	NO
4	U65990MH1979PTC021791	CRYSTAL INVESTMENT COMPANY PRIVATE LIMITED	Director	30/07/1984	30/07/1984	-	Active	NO
5	U67120MH1979PTC021592	S C FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	06/08/1984	06/08/1984	-	Active	NO
6	U01211MH1939PTC003017	THE MANJRI STUD FARM PRIVATE LIMITED	Director	22/05/1986	22/05/1986	08/10/2008	Active	NO
7	U65990MH1989PTC050954	FLORAL FINANCE PRIVATE LIMITED	Director	15/03/1989	15/03/1989	-	Active	NO
8	U65990MH1989PTC050966	MAGPIE FINANCE PRIVATE LIMITED	Director	14/04/1989	14/04/1989	-	Active	NO
9	U65990MH1989PTC051347	DAY STAR TRADING PRIVATE LIMITED	Director	14/04/1989	14/04/1989	-	Active	NO
10	U65993MH1989PTC051774	GLITTERING GOLD FINANCE PRIVATE LIMITED	Director	17/05/1989	17/05/1989	-	Active	NO
11	U65990MH1979PTC021790	S P FINANCE PRIVATE LIMITED	Director	17/05/1989	17/05/1989	-	Active	NO
12	U67130MH1989PTC051192	HEMINISHI INVESTMENT PRIVATE LIMITED	Director	12/06/1989	12/06/1989	-	Amalgamated	NO
13	U65990MH1991PTC062933	GREEN LAWN FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	14/08/1991	14/08/1991	-	Active	NO
14	U67120MH1991PTC062660	KAVISHA HOLDINGS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	-	Active	NO
15	U31100MH1995PLC084278	SHAPOORJI PALLONJI POWER COMPANY LIMITED	Director	03/01/1995	03/01/1995	30/11/2007	Active	NO
16	U70200MH1995PTC085932	CHINSHA PROPERTY PRIVATE LIMITED	Director	28/02/1995	28/02/1995	26/11/2007	Active	NO
17	U67120MH1995PTC084747	KHVAFAR INVESTMENTS PRIVATE LIMITED	Director	15/11/1999	15/11/1995	02/01/2012	Active	NO
18	U65990MH1997PLC108596	SHAPOORJI PALLONJI INFRASTRUCTURE CAPITAL COMPANY LIMITED	Director	09/06/1997	09/06/1997	06/04/2007	Active	NO
19	U74999MH1993PTC071499	ADVANCE TECH ENERGY ADDITIVES PRIVATE LIMITED	Director	30/09/1997	30/09/1997	-	Active	NO
20	U70100MH1998PTC114964	SUNNY VIEW ESTATES PRIVATE LIMITED	Director	18/05/1998	18/05/1998	30/11/2007	Active	NO
21	U27100MH1980PTC022396	SHREE PROFILES PRIVATE LIMITED	Director	03/02/1999	03/02/1999	-	Amalgamated	NO
22	U51900MH1998PTC116292	WALRUS TRADING COMPANY PRIVATE LIMITED	Director	25/02/1999	25/02/1999	-	Active	NO
23	U99999MH1942PTC019618	SHAPOORJI PALLONJI AND COMPANY (RAJKOT) PRIVATE LIMITED	Director	15/11/1999	15/11/1999	-	Amalgamated	NO
24	U25200MH1999PTC122842	SP ADVANCED ENGINEERING MATERIALS PRIVATE LIMITED	Director	17/03/2000	17/03/2000	-	Active	NO
25	U74999MH1982PTC028701	HAZARAT AND COMPANY PRIVATE LIMITED	Director	20/06/2000	20/06/2000	-	Active	NO
26	U45209MH1981PTC025099	AFCONS (MID EAST) CONSTRUCTIONS INVESTMENTS PRIVATE LIMITED	Director	20/06/2000	20/06/2000	-	Active	NO
27	U45200MH1981PTC025100	AFCONS (OVERSEAS) CONSTRUCTIONS AND INVESTMENTS PRIVATE LIMITED	Director	20/06/2000	20/06/2000	30/11/2007	Active	NO
28	U65990MH1989PTC051355	HOSANNA INVESTMENTS PRIVATE LIMITED	Director	15/10/2001	15/10/2001	-	Active	NO
29	U70200MH1995PTC084751	PALCHIN REAL ESTATES PRIVATE LIMITED	Director	23/01/2003	23/01/2003	07/11/2007	Active	NO
30	U70100MH1995PLC092856	JOYOUS HOUSING LIMITED	Director	29/06/2004	29/06/2004	26/01/2009	Active	NO
31	U70100MH1943PTC003997	STERLING INVESTMENT CORPORATION PRIVATE LIMITED	Director	03/08/2005	03/08/2005	-	Active	NO
32	U70100MH2005PTC157587	EAST VIEW ESTATES PRIVATE LIMITED	Director	25/11/2005	25/11/2005	19/03/2012	Active	NO
33	U45200MH2005PTC158083	HIGHSTREET DEVELOPERS PRIVATE LIMITED	Director	16/12/2005	16/12/2005	21/11/2007	Active	NO
34	U45200MH2006PTC158992	SKYSCAPE DEVELOPERS PRIVATE LIMITED	Director	18/01/2006	18/01/2006	11/12/2007	Active	NO
35	U45200MH2006PTC159612	SP INFOCITY DEVELOPERS PRIVATE LIMITED	Director	08/02/2006	08/02/2006	01/12/2011	Active	NO
36	U70100MH2006PTC161139	EXTRAORDINAIRE PROPERTIES PRIVATE LIMITED	Director	04/12/2006	04/12/2006	-	Amalgamated	NO
37	U65920MH1923PTC001053	CYRUS INVESTMENTS PRIVATE LIMITED	Director	01/01/2009	23/02/2007	-	Active	NO
38	U51900MH1942PTC019647	SHAPOORJI AND COMPANY (RAJKOT) PRIVATE LIMITED	Director	26/02/2007	26/02/2007	-	Amalgamated	NO
39	U01210MH2007PTC174746	MANJRI HORSE BREEDERS' FARM PRIVATE LIMITED	Director	05/10/2007	05/10/2007	05/11/2008	Active	NO
40	U45400MH2007PTC170822	PHENOMENON DEVELOPERS PRIVATE LIMITED	Director	29/09/2008	11/10/2007	-	Active	NO
41	U70109MH2007PTC174275	FIRST FUTURE AIR SERVICES PRIVATE LIMITED	Director	23/06/2008	01/11/2007	16/05/2011	Amalgamated	NO
42	U70200MH2007PTC166952	MAYFLOWER DEVELOPERS PRIVATE LIMITED	Director	30/06/2008	20/11/2007	-	Active	NO
43	U70200MH2007PTC166953	GLITTERY REALTY AND CONSTRUCTION PRIVATE LIMITED	Director	30/06/2008	20/11/2007	-	Active	NO
44	U45201GJ2008PTC054063	SHAPOORJI PALLONJI INFRASTRUCTURE (GUJARAT) PRIVATE LIMITED	Director	28/05/2008	28/05/2008	31/10/2012	Active	NO
45	U40100GJ2008PTC054060	SHAPOORJI PALLONJI ENERGY (GUJARAT) PRIVATE LIMITED	Director	28/05/2008	28/05/2008	18/11/2009	Active	NO
46	U01403GJ2008PTC054483	NURSERY PROJECTS AND AGRI DEVELOPMENT PRIVATE LIMITED	Director	15/07/2008	15/07/2008	31/10/2012	Active	NO
47	U45209GJ2008PTC054828	SHAPOORJI PALLONJI AND OEG SERVICES PRIVATE LIMITED	Director	21/08/2008	21/08/2008	31/10/2012	Active	NO
48	U40100GJ2008PTC054923	SIMAR ENERGY (GUJARAT) PRIVATE LIMITED	Director	01/09/2008	01/09/2008	31/10/2012	Active	NO
49	U74900MH2008PTC178074	SHAPOORJI PALLONJI INVESTMENT ADVISORS PRIVATE LIMITED	Director	30/09/2011	07/12/2010	-	Active	NO
50	U65990MH1989PTC051373	WEST STAR FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	27/09/2011	13/06/2011	-	Active	NO
51	U74900MH2011PTC223065	SP NANO PRODUCTS PRIVATE LIMITED	Director	15/10/2011	15/10/2011	25/03/2013	Active	NO
52	U70102MH2012PTC234507	OPHIRA PROPERTIES PRIVATE LIMITED	Director	14/08/2012	14/08/2012	-	Active	NO
53	U70102MH2012PTC234446	COSIMA PROPERTIES PRIVATE LIMITED	Director	14/08/2012	14/08/2012	-	Active	NO
54	U72300MH2012PTC237177	GRETEL SYSTEMS AND DEVELOPMENT PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO
55	U45209DL2012PTC241323	GOSWAMI INFRATECH PRIVATE LIMITED	Additional director	27/10/2012	27/10/2012	12/12/2012	Active	NO
56	U93000MH2013PTC240663	OSTENDO CONSULTANCY SERVICES PRIVATE LIMITED	Director	21/02/2013	21/02/2013	-	Active	NO
57	U93000MH2013PTC240808	ALKIMOS CONSULTANCY SERVICES PRIVATE LIMITED	Director	01/03/2013	01/03/2013	-	Active	NO

Name :

Kekoo Homji Colah

Designation :

Whole Time Director

Address :

10, 2^nd Floor, Meher Building, Opposite Dady Seth Road, Chowpatty, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

03.10.1953

Date of Appointment :

29.09.2012

DIN No.:

00377478

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74140MH1995PTC093179	KNIGHT FRANK(INDIA) PRIVATE LIMITED	Director	05/04/2000	05/04/2000	31/03/2013	Active	NO
2	U45200MH2007PTC168993	RUTLEY REAL ESTATE INVESTMENT MANAGEMENT (INDIA) PRIVATE LIMITED	Director	29/08/2007	29/08/2007	01/10/2008	Active	NO
3	U45200MH1943PLC003812	SHAPOORJI PALLONJI AND COMPANY LIMITED	Whole-time director	29/09/2012	12/07/2012	-	Active	NO
4	U93030MH2012PTC236764	GALINA CONSULTANCY SERVICES PRIVATE LIMITED	Director	27/09/2013	15/03/2013	-	Active	NO

Name :

Jai Laxmikant Mavani

Designation :

Whole Time Director

Address :

G-401, Royal Classic, Next to Fame Adlabs, New Link Road, Andheri (West), Mumbai – 400 058, Maharashtra, India

Date of Birth/Age :

04.09.1971

Date of Appointment :

29.09.2012

DIN No.:

05260191

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27109WB1931PLC007010	EUREKA FORBES LIMITED	Director	10/07/2012	14/05/2012	-	Active	NO
2	L17110MH1919PLC000628	FORBES AND COMPANY LIMITED	Director	21/08/2012	22/05/2012	-	Active	NO
3	U65990MH1997PLC108596	SHAPOORJI PALLONJI INFRASTRUCTURE CAPITAL COMPANY LIMITED	Director	27/09/2012	20/06/2012	-	Active	NO
4	U45200MH1943PLC003812	SHAPOORJI PALLONJI AND COMPANY LIMITED	Whole-time director	29/09/2012	12/07/2012	-	Active	NO
5	U45209DL2012PTC241323	GOSWAMI INFRATECH PRIVATE LIMITED	Additional director	27/10/2012	27/10/2012	-	Active	NO
6	U45400GJ2010PTC069101	SP PORTS PRIVATE LIMITED	Director	27/09/2013	01/07/2013	-	Active	NO
7	U40101GJ2013PLC077228	HPCL SHAPOORJI ENERGY LIMITED	Director	15/10/2013	15/10/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Roshen Minocher Nentin
Designation :	Secretary
Address :	King’s Building, Dr. Ambedkar Road, Parel, Mumbai – 400 012, Maharashtra, India
Date of Birth/Age :	12.12.1952
Date of Appointment :	20.10.1978
PAN No.:	AAAPN6921F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders [Equity Shares]		No. of Shares
Shapoor Pallonji Mistry		1081100
Cyrus Pallonji Mistry		1081100
Sterling Investment Corporation Private Limited, India		1346100
Cyrus Investments Limited, India		1346100
SC Finance and Investments Private Limited, India		50080900
SP Finance Private Limited, India		50080900
Blue Arrow Finance Company Private Limited , India		4000
Total		105020200

Names of Shareholders [Preference Shares]		No. of Shares
Shapoor Pallonji Mistry		50000100
Cyrus Pallonji Mistry		50000100
Total		100000200

AS ON 29.09.2012

Equity Share Breakup		Percentage of Holding
Category
Bodies corporate		97.94
Directors or relatives of directors		2.06
Total		100.00

BUSINESS DETAILS

Line of Business :

Civil Construction Activity

Products/ Services :

Item Code No. (ITC Code)	99531211
Product Description	Buildings used for production (This includes buildings used for assembly activities of industrial establishments).

GENERAL INFORMATION

Customers :

General Motors
BHEL
ISRO
RBI
SAIL
Skoda
TATA
Birla Institute
Bombay Hospitals
Can-Pack S.A.
Fiat
GVK
ITC
Kirloskar
Procter and Gamble
TAJ Hotels Resorts and Palaces

No. of Employees :

Information denied by the management.

Bankers :

· Deutsche Bank AG, 222, Kodak House, D.N. Road, Fort, Mumbai – 400 001, Maharashtra, India

· Axis Bank Limited, 2^nd Floor, Statesman House, 148, Barakhamba Road, New Delhi – 110 001, India

· The Zoroastrian Co-Operative Bank Limited, Mumbai Main Branch, Yusuf Building, Ground Floor, V.N. Road, Fort, Mumbai – 400 001, Maharashtra, India

Facilities :

Secured Loans	31.03.2011 [Rs. in Millions]	31.03.2010 [Rs. in Millions]
Rupee term loans banks secured	(A) 418.085	358.449
Working capital loans banks secured	(B) 250.000	684.271
Other debt secured	(C) 3669.267	1500.000
Total	4337.352	2542.720

NOTES:

(A) (Secured by hypothecation of specific assets) {Amount due within a year Rs.255.242 millions (Previous year Rs.227.113 millions)}

(B) (Secured by English Mortgage on flats under construction owned by the company and by hypothecation of the Company's Stocks and book debts)

(C) {Term loan of Rs.1079.267 millions (Previous year Rs. Nil) secured by hypothecation of specific assets and Rs.2590.000 millions (Previous year Rs.1500.000 millions) secured by pledge of shares of Sterling and Wilson Limited, a subsidiary and mortgage by deposit of Title Deeds of one of the Company's immoveable properties) {Amount due within a year Rs.2766.410 millions (Previous year Rs. Nil )}


Banking Relations :	--

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai-400 018, Maharashtra, India
Tel. No.:	91-22-66679000
Fax No.:	91-22-66679100
Income-tax PAN of auditor or auditor's firm :	AACFD4815A

Subsidiaries (As on 31.03.2011) :	Abhipreet Trading Private Limited, India (CIN No.: U65990MH1988PTC049620) Afcons (Overseas) Constructions and Investments Private Limited, India (CIN No.: U45200MH1981PTC025100) Afcons Infrastructure Limited, India (CIN No.: U45200MH1976PLC019335) Archaic Properties Private Limited, India (CIN No.: U70100MH2006PTC161140) Bengal Shapoorji Business Parks Private Limited, India (CIN No.: U45208MH2008PTC177605) Bengal Shapoorji Infrastructure Development Private Limited, India (CIN No.: U45201MH2007PTC174881) Chinsha Property Private Limited, India (CIN No.: U70200MH1995PTC085932) Cyrus Engineers Private Limited, India (CIN No.: U28920MH1979PTC021425) Delna Finance and Investments Private Limited, India (CIN No.: U65990MH1991PTC063703) Delphi Properties Private Limited, India (CIN No.: U70102MH2008PTC180789) DRASHTI DEVELOPERS PRIVATE LIMITED, India (CIN No.: U70109MH2007PTC166942) Empower Builder Private Limited, India (CIN No.: U70200MH2007PTC166940) Eureka Forbes Limited, India (CIN No.: U27109WB1931PLC007010) Fayland Estates Private Limited, India (CIN No.: U70100MH1998PTC114760) Firstrock Infrastructures Private Limited, India (CIN No.: U45209MH2007PTC174251) Flooraise Developers Private Limited, India (CIN No.: U45200MH2005PTC158340) Floral Finance Private Limited, India (CIN No.: U65990MH1989PTC050954) Floeat Investments Limited, India (CIN No.: U65990MH1989PLC050983) Flotilla Finance Private Limited, India (CIN No.: U65970MH1989PTC050953) Forbes and Company Limited, India (CIN No.: L17110MH1919PLC000628) Forbes Facility Services Private Limited, India (CIN No.: U74930MH2004PTC147742) Forvol International Services Limited, India (CIN No.: U55100MH1977PLC019660) Gossip Properties Private Limited, India (CIN No.: U70102MH2007PTC174361) High Point Properties Limited, India (CIN No.: U70100MH2005PLC155606) Khvafar Investments Private Limited, India (CIN No.: U67120MH1995PTC084747) Magpie Finance Private Limited, India (CIN No.: U65990MH1989PTC050966) Make Home Realty and Construction Private Limited, India (CIN No.: U45400MH2007PTC170820) Manjri Developers Private Limited, India (CIN No.: U45200MH2006PTC160662) Manjri Horse Breeders' Farm Private Limited, India (CIN No.: U01210MH2007PTC174746) Mazson Builders and Developers Private Limited, India (CIN No.: U70100MH1996PTC098263) Meriland Estates Private Limited, India (CIN No.: U70100MH1998PTC114759) Mileage Properties Private Limited, India (CIN No.: U70102MH2007PTC174360) Miracletouch Developers Private Limited, India (CIN No.: U70200MH2008PTC181744) Mydream Properties Private Limited, India (CIN No.: U45201MH2006PTC166246) Palchin Real Estates Private Limited, India (CIN No.: U70200MH1995PTC084751) Phenomenon Developers Private Limited, India (CIN No.: U45400MH2007PTC170822) Precaution Properties Private Limited, India (CIN No.: U70102MH2007PTC174823) Relationship Properties Private Limited, India (CIN No.: U45200MH2008PTC178830) S C Impex Private Limited, India (CIN No.: U51900MH1979PTC021128) Shachin Real Estates Private Limited, India (CIN No.: U70200MH1995PTC084876) Shapoorji and Company Private Limited, India (CIN No.: U51101MH1943PTC003837) Shapoorji Data Processing Private Limited, India (CIN No.: U74999MH1985PTC037814) Shapoorji Hotels Private Limited, India (CIN No.: U55200MH1993PTC072856) Shapoorji Pallonji Ports Private Limited, India (CIN No.: U71120MH2003PTC140411) Shapoorji Pallonji (Gwalior) Private Limited, India (CIN No.: U51900MH1944PTC020365) Shapoorji Pallonji Cement (Gujarat) Private Limited, India (CIN No.: U26941GJ2008PTC054061) Shapoorji Pallonji Energy (Gujarat) Private Limited, India (CIN No.: U40100GJ2008PTC054060) Shapoorji Pallonji Industrial Park Private Limited, India (CIN No.: U45209GJ2008PTC054828) Shapoorji Pallonji Infrastructure (Gujarat) Private Limited, India (CIN No.: U45201GJ2008PTC054063) Shapoorji Pallonji Infrastructure Capital Company Limited, India (CIN No.: U65990MH1997PLC108596) Shapoorji Pallonji Investment Advisors Private Limited, India (CIN No.: U74900MH2008PTC178074) Shapoorji Pallonji Libya JSC, Libyan Arab Jamahiriya Shapoorji Pallonji Roads Private Limited, India (CIN No.: U45203MH2010PTC202625) Shapoorji Pallonji Solar PV Private Limited, India (CIN No.: U40300MH2010PTC202812) Shapoorji Pallonji Solar Thermal Private Limited, India (CIN No.: U40106MH2010PTC202600) Sharus Building Services India Private Limited, India (CIN No.: U51432MH1999PTC121951) Simar Energy (Gujarat) Private Limited, India (CIN No.: U40100GJ2008PTC054923) Simar Port Private Limited, India (CIN No.: U35110GJ2008PTC054507) SP Agri Management Services Private Limited, India (CIN No.: U01403MH2007PTC175890) SP Aluminium Systems Private Limited, India (CIN No.: U27203MH1995PTC095322) SP Architectural Coatings Private Limited, India (CIN No.: U67120MH1993PTC073102) SP Biofuel Ventures Private Limited, India (CIN No.: U01112GJ2008PTC054062) SP Bio Sciences Private Limited, India (CIN No.: U67120MH1996PTC101707) SP Fabricators Private Limited, India (CIN No.: U25192MH1993PTC072591) SP Simar Infrastructure Zone Private Limited, India (CIN No.: U45201GJ2008PTC054483) SP Jammu Udhampur Highway Private Limited, India (CIN No.: U45400DL2010PTC204746) Steppe Developers Private Limited, India (CIN No.: U70102MH2008PTC18073) Sterling and Wilson Limited, India (CIN No.: U31200MH1974PLC017538) Sterling and Wilson Powergen Private Limited, India (CIN No.: U70100MH1995PTC088637) Sterling Generators Private Limited, India (CIN No.: U99999MH1995PTC085899) Sterling Industries FZ LLC, United Arab Emirates Sunny View Estates Private Limited, India (CIN No.: U70100MH1998PTC114964) Think Ahead Properties Private Limited, India (CIN No.: U45202MH2008PTC177533) United Motors (India) Limited, India (CIN No.: U28100MH1920PLC000807) Universal Mine Developers and Service Providers Private Limited, India (CIN No.: U10100MH2008PTC184554) Volkart Fleming Shipping and Services Limited, India (CIN No.: U63090MH1920PLC000808) Shapoorji Pallonji International FZE, United Arab Emirates SP Ports Private Limited, India (CIn No.: U45400MH2010PTC204065)

Associates (As on 31.03.2011) :	Awesome Properties Private Limited, India (CIN No.: U70109MH2008PTC180163) Bengal Shapoorji Housing Development Private Limited, India (CIN No.: U65990MH1988PTC049619) Joyous Housing Limited, India (CIN No.: U70100MH1995PLC092856) Sharus Steel Products Private Limited, India (CIN No.: U27100MH2005PTC158330) SD Corporation Private Limited, India (CIN No.: U70109MH1998PTC116091) Trichy Tollway Private Limited, India (CIN No.: U45200AP2006PTC049847) Shapoorji Pallonji Mideast LLC, United Arab Emirates Grand View Estates Private Limited, India (CIN No.: U70100MH1998PTC114764) Natural Oil Ventures Co Limited, Mauritius S D Recreational Services Private Limited, India (CIN No.: U92490MH2009PTC190940)

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives (As on 31.03.2011):	Advance Tech Energy Additives Private Limited, India (CIN No.: U74999MH1993PTC071499) Anand Agencies Private Limited, India (CIN No.: U51909MH1962PTC012486) Cyrus Investments Limited, India (CIN No.: U65920MH1923PLC001053) Pallonji Shapoorji and Company Private Limited, India (CIN No.: U45200MH1951PTC008529) Sterling Investment Corporation Private Limited, India (CIN No.: U70100MH1943PTC003997)

Joint Venture (As on 31.03.2011) :	Nuevo Consultancy Services Limited, India (CIN No.: U70200MH2003PLC139672) LCI â€" Shapoorji Pallonji Joint Venture, India

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
105050000	Equity Shares	Rs.10/- each	Rs.1050.500 millions
100000200	Preference Shares	Rs.10/- each	Rs.1000.002 millions
	Total		Rs.2050.502 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
105020200	Equity Shares	Rs.10/- each	Rs.1050.202 millions
100000200	Preference Shares	Rs.10/- each	Rs.1000.002 millions
	Total		Rs.2050.204 millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
105050000	Equity Shares	Rs.10/- each	Rs.1050.500 millions
100000200	0.5% Non-Cumulative, Non-Convertible, Redeemable Preference Shares	Rs.10/- each	Rs.1000.002 millions
	Total		Rs.2050.502 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
104020200	Equity Shares	Rs.10/- each	Rs.1040.202 millions
100000200	0.5% Non-Cumulative, Non-Convertible, Redeemable Preference Shares	Rs.10/- each	Rs.1000.002 millions
	Total		Rs.2040.204 millions

NOTES:

100000000 0.5% Non-Cumulative, Non-Convertible, Redeemable Preference Shares of Rs.10/- each fully paid-up (The Preference Shares shall be redeemable at par at the option of the company at any time after allotment but not later than 20 years from the date of allotment viz; January 28, 2008)

104020200 Equity Shares of Rs.10/-each fully paid-up (of the above, 700000 Shares of Rs.10/-each are allotted as fully paid-up Bonus Shares by Capitalisation of General Reserve)

200 6.5% Non cumulative Convertible Preference Shares of Rs.10/- each fully paid up (The Preference Shares are convertible after 2 years but not later than 20 years from the date of allotment viz; October 27, 2010)

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2040.204	2030.200
2] Share Application Money Pending Allotment		0.000	0.004
3] Reserves & Surplus		8678.955	5519.473
4] (Accumulated Losses)		0.000	0.000
NETWORTH		10719.159	7549.677
LOAN FUNDS
1] Secured Loans		4337.352	2542.720
2] Unsecured Loans		21661.360	13736.707
TOTAL BORROWING		25998.712	16279.427
DEFERRED TAX LIABILITIES		0.000	0.000

TOTAL		36717.871	23829.104

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		2227.508	1854.322
Capital work-in-progress		13.741	2.246

INVESTMENT		11044.989	7623.397
DEFERRED TAX ASSETS		334.542	288.714

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8993.442	4930.426
	Sundry Debtors	11597.107	10387.327
	Cash & Bank Balances	2319.898	1783.544
	Other Current Assets	858.275	754.091
	Loans & Advances	18043.794	13437.503
Total Current Assets		41812.516	31292.891
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8405.239	6316.334
	Other Current Liabilities	9794.391	10519.517
	Provisions	515.795	396.615
Total Current Liabilities		18715.425	17232.466
Net Current Assets		23097.091	14060.425

MISCELLANEOUS EXPENSES		0.000	0.000

TOTAL		36717.871	23829.104

NOTE: Balance Sheet for the year 2012 is not available only Profit & Loss A/c is available.

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from Operations	41181.935	32206.823	26938.952
		Other Income	3295.973	2944.885	1679.619
		TOTAL (A)	44477.908	35151.708	28618.571

Less	EXPENSES
		Cost of materials consumed	35304.639	26870.858	24850.802
		Purchases of stock-in-trade	7.136	41.383
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	438.116	407.473
		Employee benefit expense	3529.304	2717.854
		Other Expenses	917.805	1063.600
		TOTAL (B)	40197.000	31101.168	24850.802

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4280.908	4050.540	3767.769

Less	FINANCIAL EXPENSES (D)		3330.334	2176.104	1717.935

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		950.574	1874.436	2049.834

Less/ Add	DEPRECIATION/ AMORTISATION (F)		426.741	347.068	294.296

	PROFIT BEFORE TAX (E-F) (G)		523.833	1527.368	1755.538

Less	TAX (H)		(197.572)	40.187	636.797

	PROFIT AFTER TAX (G-H) (I)		721.405	1487.181	1118.741

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6690.599	5203.418	3863.862

	ADJUSTMENTS RELATED MERGER ACQUISITIONS		NA	0.000	220.815

	BALANCE CARRIED TO THE B/S		NA	6690.599	5203.418

	EARNINGS IN FOREIGN CURRENCY
		Technical Know-how fees	28.555	8.964	76.151
		Construction income	434.513	72.360
		Interest income	1.196	24.910
		Miscellaneous income	0.317	0.501
	TOTAL EARNINGS		464.581	106.735	76.151

	IMPORTS
		Raw Materials	117.046	46.935	NA
		Components and spare parts	5.265	6.071	NA
		Capital Goods	309.654	20.845	NA
	TOTAL IMPORTS		431.965	73.851	NA

	Earnings Per Share (Rs.)
	- Basic		6.93	14.40	10.86
	- Diluted		6.87	14.32	10.85

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.62	4.23	3.91

Net Profit Margin (PBT/Sales)	(%)	1.27	4.74	6.52

Return on Total Assets (PBT/Total Assets}	(%)	NA	3.47	5.30

Return on Investment (ROI) (PBT/Networth)		NA	0.14	0.23

Debt Equity Ratio (Total Debt/Networth)		NA	2.43	2.16

Current Ratio (Current Asset/Current Liability)		NA	2.23	1.82

LOCAL AGENCY FURTHER INFORMATION

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	No
9) Name of person contacted	No
10) Designation of contact person	No
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	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	Yes
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	No
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	Yes

LITIGATION DETAILS:

Case Details

Bench:-Bombay

Presentation Date:-				29/07/2013
Lodging No.:-	CPL/507/2013	Filing Date:-	29/07/2013

Petitioner:-

Balajee Infratech and Constructions Private Limited

Respondent:-

Shapoorji Pallonji and Company Limited

Petn. Adv.:-

Gauri S. Rao

District:-

MUMBAI

	Bench:-	SINGLE
	Status:-	Pre-Admission	Category:-	COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT

Last Date:-

08/08/2013

Stage:-

Last Coram:-

REGISTRAR (OS)/PROTHONOTARY AND SR. MASTER

Act :-

Companies Act and Rules 1956

Under Section:-

433(E), 434(A) AND 439(B)

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10434046	03/06/2013	250,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	B78383668
2	10417385	25/02/2013	75,000,000.00	THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED	FORT BRANCH, YUSUF BUILDING, GROUND FLOOR, V.N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	B72470800
3	10392361	30/10/2012	2,000,000,000.00	AXIS BANK LIMITED	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B64287147
4	10366529	29/06/2012	10,000,000,000.00	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	RAMON HOUSE 169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA	B44178556
5	10330131	25/11/2011	100,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA	B30008064
6	10314329	06/09/2011	44,000,000.00	THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED	FORT BRANCH,, YUSUF BUILDING, GROUND FLOOR, V.N. ROAD, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA	B23990948
7	10289700	23/05/2011	200,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B14088462
8	10267033	21/01/2011	250,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA	B05577572
9	10267034	21/01/2011	250,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA	B05577606
10	10267035	21/01/2011	250,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA	B05577689
11	10267036	21/01/2011	250,000,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA	B05577747
12	10257080	07/12/2010	600,000,000.00	UNION BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, 66/80, MUMBAI SAMACHAR MARG, MUMBAI, MAHARASHTRA - 400023, INDIA	B00046557
13	10259242	29/11/2010	85,800,000.00	TATA CAPITAL LIMITED	ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	B02470383
14	10255871	13/05/2011 *	173,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M UMBAI, MAHARASHTRA - 400021, INDIA	B12721759
15	10231785	08/07/2010	110,000,000.00	BANK OF BAHRAIN AND KUWAIT B.S.C	JOLLY MAKER CHAMBER II, GROUND FLOOR 225, NARIMAN POINT, MUMBAI - 400 021, MUMBAI, MAHARASHTRA - 400021, INDIA	A90028069
16	10211506	22/03/2010	50,000,000.00	BANK OF BAHRAIN AND KUWAIT B.S.C	JOLLY MAKER CHAMBER II, GROUND FLOOR 225, NARIMAN POINT, MUMBAI - 400 021, MUMBAI, MAHARASHTRA - 400021, INDIA	A82714395
17	10220554	18/03/2010	500,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	A85108710
18	10156978	24/04/2009	250,000,000.00	BANK OF INDIA	MUMBAI LARGE CORPORATE BRANCH , 70/80 M G ROAD, 4TH FLOOR, FORT, MUMBAI, MAHARASHTRA - 400001, IN DIA	A62063813
19	10135907	16/10/2010 *	200,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	A96956404
20	10032820	22/02/2013 *	1,016,000,000.00	DEUTSCHE BANK AG	222, KODAK HOUSE, D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	B69507812
21	10016447	06/08/2007 *	100,000,000.00	STANDARD CHARTERED BANK	90, M G ROAD, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA	A19894575
22	90235146	09/01/2006	1,750,000,000.00	STANDARD CHARTERED BANK	MUMBAI BRANCH, M.G. ROAD; FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	-
23	90213714	21/05/2001	423,052.00	CITICORP FINANCE INDIA LIMITED	1ST FLOOR; PLOT NO. C-61, G- BLOCK BANDRA KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA	-
24	90213302	31/12/1998	150,000,000.00	ANZ GRINDLAYS BANK	90; M.G. ROAD, POST BOX NO.141; FORT, BOMBAY, MAHARASHTRA - 400001, INDIA	-
25	90211251	29/03/1978	2,000,000.00	MISHRA DHATU NIGAM LIMITED	KANCHENBAGH, HYDERABAD, ANDHRA PRADESH - 500258, INDIA	-
26	90211224	17/09/1975	2,000,000.00	THE VYSYA BANK LIMITED	586; CHIRA BAZAR, BOMBAY, MAHARASHTRA - 400002, INDIA	-

* Date of charge modification

Unsecured Loans	31.03.2011 [Rs. in Millions]	31.03.2010 [Rs. in Millions]
Fully convertible debentures unsecured	(A) 3883.800	0.000
Rupee term loans banks unsecured	15124.557	9936.007
Rupee term loans others unsecured	(B) 1081.448	1793.447
Other debt unsecured	(C) 1475.229	1954.201
Interest accrued due other debt unsecured	96.326	53.052
Total	21661.360	13736.707

Notes:

(A) (The debenture is compulsorily convertible into 1000000 equity shares of Rs.10/- each at a premium of Rs.3873.80 per share at any time after the date of allotment viz October 27, 2010, but on or before March 31, 2012)

(B) {Including Rs.19447300 (Previous year Rs.616.447 millions) from Directors and a loan of Rs.300.000 millions (Previous year Rs.300.000 millions) covered by as undertaking of non-disposal of certain investments by Managing Directors}

(C) Commercial paper is net of discount not written off on them. Discount not written off on commercial paper for CY- Rs.24.771 millions and PY-Rs.45.799 millions and Maximum outstanding during the year Rs.2500.000 millions (Previous year Rs.2000.000 millions)

FIXED ASSETS:

Tangible Assets:

· Land and Land Improvements

· Building and Building Improvements

· Plant and Machinery

· Office Equipments

· Computer Equipments

· Furniture and Fixtures

· Vehicles

Intangible Assets:

· Computer Software

NEWS:

HPCL TO PARTNER SHAPOORJI PALLONJI GROUP FOR LNG TERMINAL

MARCH 6, 2013

State-owned Hindustan Petroleum Corp Limited (HPCL) and Mumbai-based infrastructure major Shapoorji Pallonji plan to set up a terminal for import of liquid gas (LNG) on Gujarat coast at a cost of Rs.50000.000 millions.

HPCL and SP Ports Private Limited, a unit of Shapoorji Pallonji Group, plan to set up the liquefied natural gas (LNG) import terminal at Chhara in Gujarat’s Junagadh district through a 50-50 joint venture, sources privy to the development said.

SP Ports is already developing a Greenfield, all weather, direct berthing port in Junagadh district. HPCL and SP Ports are carrying out a detailed feasibility study for establishing technical and commercial viability of setting up an LNG import and regasification terminal of 5 million tonnes per annum capacity at the proposed Port, the sources said.

The port is connected to a gas pipeline grid and evacuation of the fuel would not be an issue, they said.

Gujarat already has two functional ports at Dahej and Hazira. A third one is being planned by Gujarat State Petroleum Corp (GSPC) and Larsen & Toubro (L and T) at Mundra. The Chhara terminal would be the fourth in the state.

The sources said the Chhara import terminal may take a minimum of three years to build.

India has three operational LNG import facilities — a 10 million tonnes unit at Dahej operated by Petronet LNG Limited (PLL); a 3.6 million tonnes terminal of Shell-Total at Hazira in Gujarat, and a newly commissioned 5 million tonnes facility at Dahbol in Maharashtra.

A similar capacity import facility will come up at Kochi in Kerala this year.

Currently, both PLL’s terminal at Dahej, and Shell-Total’s terminal at Hazira in Gujarat are under expansion to 15 million tonnes and 5 million tonnes capacity, respectively.

Even Dabhol is proposed to be expanded to 10 million tonnes.

Also, GAIL and Shell are putting up separate floating LNG terminal at Kakianda, off Andhra Pradesh coast, while Petronet is building one at Gangavaram in the same state.

State-owned Indian Oil Corp (IOC) is building an LNG terminal in Ennore, near Chennai, with a capacity of 5 million tonnes at an estimated cost of Rs 43200.000 Millions.

It is to be commissioned in 2016. GSPC is also planning to commission an LNG terminal with a capacity of 5 million tonnes at Mundra by 2015-16.

The rush for LNG terminals is because domestic natural gas production (close to 144 million standard cubic meters per day) is meeting just half the demand. The demand for gas is projected to grow exponentially in future.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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] 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.61.63
UK Pound	1	Rs.99.94
Euro	1	Rs.85.14

INFORMATION DETAILS

Information Gathered by :	SVA

Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	9
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	9
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	9
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		79

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	--

MIRA INFORM REPORT

8993.442

11597.107

2319.898

858.275

18043.794

41812.516

8405.239

9794.391

515.795

18715.425

23097.091

1.62

4.23

1.27

4.74

NA

3.47

NA

0.14

NA

2.43

NA

2.23

Unit