MIRA INFORM REPORT

Report Date :

17.09.2013

IDENTIFICATION DETAILS

Name :	PRIME URBAN DEVELOPMENT INDIA LIMITED (w.e.f.05.07.2010)
Formerly Known As :	PRIME TEXTILES LIMITED
Registered Office :	110, Avanashi Road, Gandhi Nagar Post, Tirupur – 641603, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	16.11.1936
Com. Reg. No.:	18-000001
Capital Investment / Paid-up Capital :	Rs. 45.487 Millions
CIN No.: [Company Identification No.]	L70200TZ1936PLC000001
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Real Estate developer and Exporter of Cotton Yarns.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (34)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 6500000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. There appears dip in sales turnover and incurred some loss. The company has moderate financial risk. However, networth of the company is strong. Trade relations are reported to be fair. Business is active. Payments are reported to be 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 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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.

LOCATIONS

Registered Office :	110, Avanashi Road, Gandhi Nagar Post, Tirupur – 641603, Tamilnadu
Tel. No.:	91-421-2470065/4307800
Fax No.:	91-421-2471463
E-Mail :	prime@ptlonline.com
Website :	www.ptlonline.com
Corporate Office:	307, Regent Chamber, Nariman Point, Mumbai – 400021, Maharashtra, India

DIRECTORS

As on 31.03.2012

Name :

Mr. Purusottamdas Patodia

Designation :

Chairman and Managing Director

Address :

72, Mount Unique, 62 A, Peddar Raod, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

01.02.1938

Date of Appointment :

01.04.2013

Election Commission Identity Card No:

MT/04/02/4258951

DIN No.:

00032088

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	U67120WB1961PTC025238	MADAN LAL BRIJ LAL PRIVATE LIMITED	Director	23/09/1961	23/09/1961	04/02/2011	Active	NO
2	U91110MH1921NPL000940	COTTON ASSOCIATION OF INDIA	Director	14/06/1984	14/06/1984	31/12/2008	Active	NO
3	U17118WB1988PLC044153	ANJANA SYNTEX COMPANY LIMITED	Director	13/04/1988	13/04/1988	-	Active	NO
4	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Managing director	01/04/2013	14/05/1988	-	Active	NO
5	U67120WB1988PLC044207	PAT CREDIT LIMITED	Director	23/04/1989	23/04/1989	-	Active	NO
6	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	Director	18/09/1997	18/09/1997	18/09/2009	Active	NO
7	U17219AP2006PLC051271	PRIME HOMETEX INDUSTRIES (INDIA) LIMITED	Director	27/09/2006	27/09/2006	25/01/2012	Active	NO
8	U80903DL2006PLC155825	APPTEX MANPOWER DEVELOPMENT SERVICES LIMITED	Director	30/05/2008	18/10/2007	23/10/2008	Active	NO

Name :

Mr. Manoj Kumar Patodia

Designation :

Chairman and Managing Director

Address :

61, Mount Unique, 62 A, Peddar Raod, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

28.01.1964

Date of Appointment :

01.04.2013

Election Commission Identity Card No:

MT/04/024/258176

DIN No.:

00026455

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	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Managing director	01/04/2013	19/10/1989	-	Active	NO
2	U01712TZ1996PLC006934	MANOJ YARN PROCESSORS LIMITED	Director	08/02/1996	08/02/1996	-	Active	NO
3	U65910TZ1996PLC007068	ATL TEXTILE PROCESSORS LIMITED	Director	22/03/1996	22/03/1996	-	Active	NO
4	U91110MH1954NPL009385	THE COTTON TEXTILES EXPORT PROMOTION COUNCIL	Director	30/09/2005	30/09/2005	-	Active	NO
5	U17118WB1988PLC044153	ANJANA SYNTEX COMPANY LIMITED	Director	01/02/2006	01/02/2006	-	Active	NO
6	U67120WB1988PLC044207	PAT CREDIT LIMITED	Director	01/02/2006	01/02/2006	-	Active	NO
7	U17219AP2006PLC051271	PRIME HOMETEX INDUSTRIES (INDIA) LIMITED	Director	27/09/2006	27/09/2006	25/01/2012	Active	NO
8	U40102TZ2008PLC014198	PRIME VISTA POWER GENERATION LIMITED	Director	05/02/2008	05/02/2008	-	Active	NO
9	U45201TZ2008PTC014208	PRIME TEAM3 PROJECT DEVELOPMENT INTERNATIONAL PRIVATE LIMITED	Director	07/02/2008	07/02/2008	-	Active	NO
10	U70101TZ2008PTC014230	PATODIA DEVELOPERS PRIVATE LIMITED	Director	15/02/2008	15/02/2008	-	Active	NO
11	U70101TZ2008PTC014204	KNITCITY REALTIES COMPANY PRIVATE LIMITED	Director appointed in casual vacancy	30/06/2011	30/06/2011	-	Converted to LLP and dissolved	NO

Name :

Mr. Anuj Patodia

Designation :

Managing director

Address :

72, Mount Unique, 62 A, Peddar Raod, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

24.02.1973

Date of Appointment :

30.06.2009

Election Commission Identity Card No:

MT/04/024/258957

DIN No.:

00026458

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	U01119MH1993PLC074630	PURAV TRADING LIMITED	Director	21/10/1993	21/10/1993	-	Active	NO
2	U70101TZ1989PLC002347	AADARSH JANN AAWAASH LIMITED	Director	01/04/1995	01/04/1995	-	Active	NO
3	U17111TZ1995PLC006750	PEE DEE YARN PROCESSORS LIMITED	Director	06/12/1995	06/12/1995	-	Active	NO
4	U65910TZ1996PLC007068	ATL TEXTILE PROCESSORS LIMITED	Director	22/03/1996	22/03/1996	-	Active	NO
5	U18101TZ1997PTC008024	ATL - SELINA INNERWEAR PRIVATE LIMITED	Director	09/07/1997	09/07/1997	-	Strike off	NO
6	U17118WB1988PLC044153	ANJANA SYNTEX COMPANY LIMITED	Director	01/12/1997	01/12/1997	-	Active	NO
7	U67120WB1988PLC044207	PAT CREDIT LIMITED	Director	01/12/1997	01/12/1997	-	Active	NO
8	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Managing director	30/06/2009	21/06/2002	-	Active	NO
9	U17219AP2006PLC051271	PRIME HOMETEX INDUSTRIES (INDIA) LIMITED	Director	27/09/2006	27/09/2006	25/01/2012	Active	NO
10	U40102TZ2008PLC014198	PRIME VISTA POWER GENERATION LIMITED	Director	05/02/2008	05/02/2008	-	Active	NO
11	U45201TZ2008PTC014208	PRIME TEAM3 PROJECT DEVELOPMENT INTERNATIONAL PRIVATE LIMITED	Director	07/02/2008	07/02/2008	-	Active	NO
12	U70101TZ2008PTC014204	KNITCITY REALTIES COMPANY PRIVATE LIMITED	Director	07/02/2008	07/02/2008	-	Converted to LLP and dissolved	NO
13	L25200MH1980PLC022812	SAFARI INDUSTRIES (INDIA) LIMITED	Director	31/07/2012	18/04/2012	-	Active	NO

Name :

Mr. N K Bafna

Designation :

Independent Director

Address :

43, Jolly Maker Aprtment No. 2, 94 Cuffe Parade, Opposite World Trade centre, Mumbai – 400005, Maharashtra, India

Date of Birth/Age :

03.07.1939

Date of Appointment :

26.08.1994

Election Commission Identity Card No:

MT/04/019/039181

DIN No.:

00019372

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	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Director	26/08/1994	26/08/1994	-	Active	NO
2	L18101KL1991PLC006194	PATSPIN INDIA LTD	Director	20/06/2000	20/06/2000	-	Active	NO
3	U74140MH2004PLC148859	NATIONAL COLLATERAL MANAGEMENT SERVICES LIMITED	Director	12/03/2005	12/03/2005	-	Active	NO
4	L18101KL2005PLC018062	GTN TEXTILES LIMITED	Director	25/07/2008	15/05/2008	-	Active	NO

Name :

Mr. Banwari Lal Singhal

Designation :

Independent Director

Address :

599B, O Block, New Alopore, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

15.04.1947

Date of Appointment :

15.05.1988

DIN No.:

00006433

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	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Director	15/05/1988	15/05/1988	-	Active	NO
2	U67190WB1990PTC048536	M B CREDIT PRIVATE LIMITED	Director	08/03/1990	08/03/1990	-	Amalgamated	NO
3	U67120WB1989PTC046638	PRITI CREDIT PRIVATE LIMITED	Director	15/07/1992	15/07/1992	-	Active	NO
4	U67120KL1981PLC013244	GTN ENTERPRISES LIMITED	Director	21/06/1994	21/06/1994	-	Active	NO
5	U67120WB1995PTC072283	BLS SECURITIES PRIVATE LIMITED	Director	22/06/1995	22/06/1995	-	Active	NO
6	L18101KL1991PLC006194	PATSPIN INDIA LIMITED	Director	20/06/2000	20/06/2000	-	Active	NO
7	U65910TZ1996PLC007068	ATL TEXTILE PROCESSORS LIMITED	Director	01/01/2005	01/01/2005	-	Active	NO
8	L18101KL2005PLC018062	GTN TEXTILES LIMITED	Director	08/04/2005	08/04/2005	-	Active	NO
9	L18101AP1962PLC054323	GTN INDUSTRIES LIMITED	Director	22/11/2006	22/11/2006	-	Active	NO

Name :

Mr. Venkatchalam Arakoni Ramaswamy

Designation :

Independent Director (w .e.f. 26.7.201 1)

Address :

142, 14^th Floor, Beach Tower, P Balu Road, Prabahdevi, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

12.08.1966

Date of Appointment :

26.07.2011

DIN No.:

00008509

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	L99999MH1995PLC094641	EDELWEISS FINANCIAL SERVICES LIMITED	Whole-time director	01/04/2008	20/02/1996	-	Active	NO
2	U72900MH1999PLC121825	ICLEO COM LIMITED	Director	24/12/1999	24/12/1999	-	Strike off	NO
3	U72200MH2000PLC124096	EDELWEISS INSURANCE BROKERS LIMITED	Director	08/02/2000	08/02/2000	07/02/2011	Active	NO
4	U67110AP1993PLC052266	EDELWEISS SECURITIES LIMITED	Director	26/12/2000	26/12/2000	22/03/2010	Active	NO
5	U65910MH2006PTC162818	IVY FINANCIAL SERVICES PRIVATE LIMITED	Director	23/06/2006	23/06/2006	-	Active	NO
6	U72200MH1992PTC066379	EXACTUS CORPORATION PRIVATE LIMITED	Director	28/09/2007	28/11/2006	07/06/2011	Active	NO
7	U65991MH2007PLC173409	EDELWEISS ASSET MANAGEMENT LIMITED	Director	23/08/2007	23/08/2007	30/10/2007	Active	NO
8	U67100MH2007PLC173779	EDELWEISS TRUSTEESHIP COMPANY LIMITED	Director	03/09/2007	03/09/2007	30/10/2007	Active	NO
9	U67100MH2007PLC174759	EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED	Director	05/10/2007	05/10/2007	13/08/2008	Active	NO
10	U67190MH2008PLC182205	EDELWEISS ALTERNATIVE ASSET ADVISORS LIMITED	Director	14/05/2008	14/05/2008	-	Active	NO
11	U74140MH2008PLC182920	EDELWEISS INVESTMENT ADVISER LIMITED	Director	30/05/2008	30/05/2008	-	Active	NO
12	U66010MH2009PLC197336	EDELWEISS TOKIO LIFE INSURANCE COMPANY LIMITED	Director	29/07/2010	25/11/2009	-	Active	NO
13	U67110MH2010PLC202149	STYRAX COMMODITIES LIMITED	Director	02/09/2011	17/04/2010	09/01/2012	Active	NO
14	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Director	26/07/2011	26/07/2011	-	Active	NO
15	U45201AP2006PLC078157	EDELWEISS COMMODITIES SERVICES LIMITED	Director	24/07/2013	01/07/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.06.2013

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	2993006	13.16
Bodies Corporate	12019350	52.85
Sub Total	15012356	66.01
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	15012356	66.01
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	25000	0.11
Sub Total	25000	0.11
(2) Non-Institutions
Bodies Corporate	1144129	5.03
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	3507169	15.42
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	2152492	9.46
Any Others (Specify)	902454	3.97
Directors & their Relatives & Friends	94713	0.42
Non Resident Indians	64707	0.28
Clearing Members	16365	0.07
Hindu Undivided Families	725669	3.19
Trusts	1000	0.00
Sub Total	7706244	33.88
Total Public shareholding (B)	7731244	33.99
Total (A)+(B)	22743600	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	22743600	0.00

BUSINESS DETAILS

Line of Business :

Real Estate developer and Exporter of Cotton Yarns.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Central Bank of India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long-term Borrowings
Deferred payment liabilities Hire-purchase loan	1.171	0.857
Short-term borrowings
Loan repayable on demand From Banks	2.152	7.561
Total	3.323	8.418
Note: LONG-TERM BORROWINGS Nature of Security : Hire purchase loans are secured against vehicles acquired. Terms of Repayment : Hire purchase loan liabilities and terms to pay last installment due is on 1.9.2016 and rate of interest is 11% per annum SHORT-TERM BORROWINGS Nature of Security : Secured loans are secured against hypothecation of current assests and further secured by way of second charge over the land belonging to an Associate Company and further guaranteed by three of the Directors of the Company

Banking Relations :
Auditors :
Name :	M.S. Jagannathan and Visv Anathan Chartered Accountants
Address :	Coimbatore, Tamilnadu, India
Legal Advisors:	Ramani and shankar Advocates,
Address :	Coimbatore, Tamilnadu, India
Wholly owned subsidiaries:	ATL Textile Processors Limited Manoj Yarn Processors Limited Pee Dee Yarn Processors Limited
Associates:	Aadarsh Jann Aawaash Limited Prime Developers Prime Mall Developers Prime New Line AOP
Enterprises having Common Key Management Personnel:	Pat Credit Limited Anjana Syntex Company Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
6,25,00,000	Equity Shares	Rs.2/- each	Rs. 125.000 Millions
7,50,000	Preference Shares	Rs.100/- each	Rs. 75.000 Millions
	Total		Rs. 200.000 Millions

Issued:

No. of Shares	Type	Value	Amount
2,27,44,300	Equity Shares	Rs.2/- each	Rs. 45.489 Millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,27,43,600	Equity Shares	Rs.2/- each	Rs. 45.487 Millions

Note 1(a): Share Capital movement

Particulars	31.03.2012
	Number	Rs. In Millions
Shares outstanding at the beginning of the year	2,27,43,600	45.487
Add : Shares issued during the year	--	--
Less : Shares bought back during the year	--	--
Less : Any other movement	--	--
Shares outstanding at the end of the year	2,27,43,600	45.487

Note 1(b) : Equity Shares of more than 5% and held by associates

Particulars	31.03.2012
	Number of shares held	Percentage of Holding
Anjana Syntex Company Limited	48,43,120	21.294%
Pat Credit Limited	63,68,71	28.002%

Note1(c) : Disclosure regarding Bonus Share, Redemption, Buy-Back, etc. for last five years :

Particulars	Preference shares	Equity Shares
	Number of Shares
(i) Shares Redeemed	1,50,000 In 31.3.2008	--

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	45.487	45.487
(b) Reserves & Surplus	1567.197	1597.906
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1612.684	1643.393
(3) Non-Current Liabilities
(a) long-term borrowings	54.570	73.068
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	127.011	127.025
(d) long-term provisions	3.960	3.334
Total Non-current Liabilities (3)	185.541	203.427
(4) Current Liabilities
(a) Short term borrowings	91.418	149.897
(b) Trade payables	13.228	14.031
(c) Other current liabilities	11.425	59.608
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	116.071	223.536
TOTAL	1914.296	2070.356
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1577.107	1578.050
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	73.003	103.433
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	10.933	11.885
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	1661.043	1693.368
(2) Current assets
(a) Current investments	2.175	26.265
(b) Inventories	127.498	227.975
(c) Trade receivables	1.331	0.979
(d) Cash and cash equivalents	13.955	15.386
(e) Short-term loans and advances	61.250	59.334
(f) Other current assets	47.044	47.049
Total Current Assets	253.253	376.988
TOTAL	1914.296	2070.356

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		45.487
2] Share Application Money		0.000
3] Reserves & Surplus		2419.788
4] (Accumulated Losses)		0.000
NETWORTH		2465.275
LOAN FUNDS
1] Secured Loans		118.724
2] Unsecured Loans		170.147
TOTAL BORROWING		288.871
DEFERRED TAX LIABILITIES		0.000
TOTAL		2754.146
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2553.978
Capital work-in-progress		0.000
INVESTMENT		104.276
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	30.399
	Sundry Debtors	25.270
	Cash & Bank Balances	39.661
	Other Current Assets	49.665
	Loans & Advances	159.216
Total Current Assets		304.211
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	30.310
	Other Current Liabilities	177.326
	Provisions	0.683
Total Current Liabilities		208.319
Net Current Assets		95.892
MISCELLANEOUS EXPENSES		0.000
TOTAL		2754.146

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	266.598	452.966	331.049
		Other Income	4.511	3.215	7.790
		TOTAL (A)	271.109	456.181	338.839
Less	EXPENSES
		Cost of Land sold	94.947	0.000
		Purchases of Stock-in-Trade	86.160	179.556
		Changes in inventories of finished goods and Stock-in-trade	5.529	18.363
		Employee benefit expenses	18.478	17.811
		Other expenses	31.531	30.393
		Exceptional expenses	44.500	88.502
		TOTAL (B)	281.145	334.625	86.531
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(10.036)	121.556	252.308
Less	FINANCIAL EXPENSES (D)		18.677	30.215	41.005
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(28.713)	91.341	211.303
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.996	2.253	8.490
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(30.709)	89.088	(202.813)
Less	TAX (H)		0.000	0.000	(32.204)
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(30.709)	89.088	(170.609)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		95.681	6.593	(3.472)
	TRANSFER FROM BUSINESS RECONSTRUCTION RESERVE		44.500	88.502	210.674
	AMOUNT AVAILABLE FOR APPROPRIATION		109.472	184.183	36.593
	EARNINGS IN FOREIGN CURRENCY
		Export of goods calculated on FOB basis	85.383	107.403	226.684
	Earnings / (Loss) Per Share (Rs.)		(1.35)	3.92	(7.50)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(11.33)	19.53	(50.35)
Net Profit Margin (PBT/Sales)	(%)	(11.52)	19.67	(61.26)
Return on Total Assets (PBT/Total Assets}	(%)	(1.67)	4.53	(7.10)
Return on Investment (ROI) (PBT/Networth)		(0.02)	0.05	(0.08)
Debt Equity Ratio (Total Debt /Networth)		0.09	0.14	0.12
Current Ratio (Current Asset/Current Liability)		2.18	1.69	1.46

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	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	No
19]	Payments terms	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

UNSECURED LOAN

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long-term Borrowings
Deposits
From Public	0.200	15.477
From Directors	0.000	3.500
Loans and Advances from related parties	53.199	53.234
Short-term borrowings
Deposits
From Public	10.465	5.391
From Directors	0.000	3.200
From Inter-corporates	78.801	133.745
Total	142.665	214.547

REVIEW OF OPERATIONS

The company has two reportable segments, the Realty and Textiles.

Realty Segment

Tirupur has been a forerunner in contributing to the nation's economy. Apart from remaining a driving force for exports business, it has a District Headquarters for sustainable economic growth which is apparent that various developments under infrastructure like water schemes, six lanes highway tracks approaching airport and underground sewage system are under progress. The city has a huge potential to contribute to the growth of realty sector.

The prestigious multi-storied apartment project "Prime Enclave" has uplifted the Tirupur's living concept and the life style of the city is taking a new dimension with this kind of living conditions. The construction of Emerald and Opal Apartments has started.

The construction is in progress for the signature land mark project "THE ONYX" consisting of villas spread over 4.865 acres, amidst stunning lush landscapes with pebbled pathways and unique car free environment. Every villa has a private elevator and private pool in addition to the common swimming pool and a ultra modern club house.

Textile Segment

The economic recession in international markets has had a severe impact on the Indian textile segment. The company continued to carry on its yarn trading exports.

MANAGEMENT'S DISCUSSION AND ANALYSIS

OVERVIEW

Prime Urban Development India Limited is a Government Recognized Star Export House. It has two business segments viz., Realty and Textiles.

BUSINESS ANALYSIS

The Realty Division of the company has been developing various residential/commercial projects on its lands owned by the Company. With the realty business being the core activity of the company , the Division is expected to achieve new heights. The Company has been imparting high level of professionalism in all its construction activities.

1. "Prime Enclave Vistas" the multi- storied prestigious residential complex is almost occupied and the construction of luxury apartment has commenced during the year. The construction of a commercial mall adjacent to the residential complex is yet to be taken up. The above projects are in a partnership firm in which the company holds a stake of 50%.

2. The construction of independent luxury villas which is a signature project "THE ONYX" in Tirupur has been commenced during the year. The project is designed with international standard for the luxury life style of living. There is an evinced good response from the prospective buyers.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10315611	20/10/2011	100,000,000.00	CORPORATION BANK	NARIMAN POINT BRANCH, EARNEST HOUSE, 1ST FLOOR, N ARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B24519027
2	90008742	01/08/2013 *	200,000,000.00	CENTRAL BANK OF INDIA	NO.2, COURT STREET, TIRUPUR, TAMIL NADU - 641601, INDIA	B80792534

Note: * Date of charge modification

STATEMENT OF UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2013

(Rs. In Millions)

PARTICULARS				Quarter ended			Year Ended
				30.06.2013	31.03.2013	30.06.2012	31.03.2013
				Reviewed	Audited	Reviewed	Audited
1	Income from Operations
	a	Net sales/Income from operations		60.187	188.874	15.978	243.924
	b	Other operating income		--	--	--	--
		Total income from operations (net)		60.187	188.874	16.978	243.924
2	Expenses
	a	Cost of Land sold		2.725			3.825
	b	Purchase of Textile goods		56.001	162.931	10.675	168.737
	c	Changes in Inventories of finished goods and stock In trade		(18.616)	0.351	2.941	3.345
	d	Employee benefit expenses		5.031	4.241	4.800	19.264
	e	Depreciation and amortisation expenses		0.522	0.246	0.465	2.056
	f	Other Expenditure		8.610	11.117	5.538	29.250
		Total expenses		64.273	178.886	24.419	246.477
3	Prom/ (Loss) from operation before other income, finance cost			5.914	9.988	(8.441)	(2.663)
	land exceptional /extraordinary items
4	Other income			0.553	0.346	0.495	1.719
5	Profit / (Loss) from ordinary activities before finance cost and
	exceptional items			6.467	10.336	(7.946)	(0.834)
6	Finance cost			5.078	4.578	3.631	16.664
7	Profit / (Loss) from ordinary activities after finance cost but before
		exceptional items		1.389	5.657	(11.577)	(117.498)
8	Exceptional Hems			-			-
9	Profit / (Loss) from ordinary activities before tax			1.389	6.667	(11.577)	(117.498)
10	Tax expenses - (Provision)/ Reversal
11	Net Profit (Loss) from ordinary activities after tax			1.389	6.667	(11.577)	(17.498)
12	Extraordinary items
13	Net Profit/(loss) after tax for the period			1.389	6.667	(11.577)	(17.498)
	Paid up Equity Share Capital			45.487	45.487	45.487	46.487
	(Face value Rs.2 per share)
15	Reserves (excluding revaluation reserve)			--	--	--	1547.090
16	i		Earnings Per Share (before extraordinary items (not annualised)
			Basic	0.06	0.25	(0,51)	(0.77)
			Diluted
	ji		Earnings Per Share (after extraordinary items) (not annualised)
			Basic	0.06	0.25	(0,51)	(0.771
			diluted
J..			Public Shareholding
			-Number of shares	7,731,244	7,731,244	8,538,764	7,731,244
			-Percentage o( shares	33.99%	31.99%	37.54%	33.99%
2			Promoters and Promoter Group Shareholding
	a		Pledged / Encumbered
			- Number of Shares	Nil	Nil	Nil	Nil
			Percentage of Shares
			(% o total shareholding of promoter group)	NA	NA	NA	NA
			Percentage of Shares
			(% of total share capital of the Company)	NA	NA	NA	NA
	b		Non-encumbered
			-Number of Shares	1,012,356	15,012,356	14,204,836	15,012,356
			-Percentage of Shares	100%	100%	100%	100%
			(% of total shareholding of promoter group)
			Percentage of Shares	66.01%	66.01%	62.46%	68.01%
			(% of total share capital of the Company)
			Particulars

B	INVESTOR COMPLAINTS
		Pending at the beginning of the quarter	Nil
		Received during the year	Nil
		(Disposed of during the quarter	Nil
		Remaining un resolved at the end of the quarter	Nil

SEGMENT WISE REVENUE RESULTS AND CAPITAL EMPLOYED

(Rs. In Millions)

SI.	Particulars	30.06.2013	31.03.2013	30.06.2012	31.03.2013
nos.		Reviewed	Reviewed	Audited	Reviewed
1	Segment Revenue:-
	a. Segment - Really	18.873	3.338	14.600	26.502
	b. Segment - Textiles	41.314	185.536	1.378	2.17.422
	Total	60.187	188.874	15.978	243.924
2	Segment Results:-
	Profit/(Loss) before tax, Interest and exceptional Items from each segment
	a. Segment -Realty	7.340	(7.780)	(7.101)	(14.689)
	b. Segment -Textiles	0.219	19.397	(0.231)	17.039
	Total	7.669	11.617	(7.422)	2.360
	Less: interest expenditure	6.078	4.678	3.631	16.664
	Less: Exceptional items				.
	Less: Unallocable expenditure	1.092	1.282	0.524	3.184
	Profit/(Loss) before tax and extraordinary items	1.389	5.657	(11.577)	(17.498)
	Less: Extraordinary items
	Profit/(Loss) before tax	1.389	5.6.67	(11.577)	(17.498)
3	Capital Employed
	a. Segment - Realty	1681.498	1672.836	1660.329	1672.836
	b. Segment - Textiles	134.236	122.410	108.352	122.410
	Total	1815.734	1795.246	1768.681	1796.246

Note:

1. The above unaudited Financial Results for the quarter ended 30th June, 1013 have been reviewed by the Statutory Auditors and were taken on record at the Meeting of the Board of Directors held on 2nd August, 2013 after the same having been reviewed by the Audit Committee.

2. In respect of Really Division, the first phase of the construction in the Company's prestigious 'Individual Residential Cluster Project - THE ONYX' will be completed by the end of the year and construction of further apartments in Prime Enclave Vistas is under progress.

3. As the subsidiaries of the Company viz., ATL Textile Processors Limited, Pee Dee Yam Processors Ltd and Manoj Yarn Processors Limited have not carried on any business activity, consolidated figures are not given.

4. Figures are regrouped to conform to current presentation.

5. The figures of the quarter ended March 31, 2013, are the balancing figures between the audited figures of the financial year ended March 31,2013 and the published year to data figures upto the quarter ended December 31,2012

CONTINGENT LIABILITIES:

(Rs. in millions)

PARTICULARS	31.03.2012
Disputed T ax Demands (Including Interest up to the date of demand)
(a) Sales Tax	1.007
(b) Income Tax	183.16
Other money for which the company is contingently liable; Export Documentary bills discounted with Bank (Since Realized-Rs.7.425 Millions Previous year - Rs.24.560 Millions)	15.443

FIXED ASSETS

Tangible Assets:

• Land - free hold
• Buildings
• Plant and Machinery
• Furniture and Office Equipments
• Motor Vehicles

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 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.62.48
UK Pound	1	Rs.99.66
Euro	1	Rs.83.50

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		34

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.