MIRA INFORM REPORT

Report Date :

27.02.2014

IDENTIFICATION DETAILS

Name :	DELHI INTEGRATED MULTI MODAL TRANSIT SYSTEM LIMITED
Registered Office :	1^st Floor, Maharana Pratap ISBT Building, Kashmere Gate, Delhi - 110006
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	19.04.2006
Com. Reg. No.:	55-148406
Capital Investment / Paid-up Capital :	Rs. 146.090 Millions
CIN No.: [Company Identification No.]	U60232DL2006PLC148406
TAN No.: [Tax Deduction & Collection Account No.]	DELD09235C
PAN No.: [Permanent Account No.]	AACCD4970D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing expert services in urban transport and infrastructure development.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2010000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

The worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14.  Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey.  Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year.  The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National  Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled  Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors.  According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

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 BY

Name :	Mr. Harvinder Pal Singh
Designation :	Finance Controller
Contact No.:	91-11-43090113
Date :	25.02.2014

LOCATIONS

Registered Office :	1^st Floor, Maharana Pratap ISBT Building, Kashmere Gate, Delhi - 110006, India
Tel. No. :	91-11-43090100
Fax No. :	91-11-23860966
E-Mail :	info@dimts.in
Website :	www.dimts.in

DIRECTORS

As on 18.09.2013

Name :

Mr. Rajiv Behari Lall

Designation :

Director

Address :

Sanghvi House, 3^rd Floor, 94, Nepean Sea Road, Mumbai – 400006, Maharashtr, India

Date of Birth/Age :

02.08.1957

Qualification :

Phd. Economics

Date of Appointment :

10.08.2007

DIN No. :

00131782

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	L65191TN1997PLC037415	IDFC LIMITED	Whole-time director	02/05/2013	10/01/2005	-	Active	NO
2	U67190MH2002PLC137798	IDFC ALTERNATIVES LIMITED	Nominee director	21/01/2005	21/01/2005	-	Active	NO
3	U51900MH1994PLC078303	STCI FINANCE LIMITED	Director	29/09/2005	29/09/2005	17/12/2008	Active	NO
4	U72900MH1995PLC095642	NSDL E-GOVERNANCE INFRASTRUCTURE LIMITED	Director	19/07/2006	24/11/2005	06/02/2014	Active	NO
5	U74899DL1990PTC040630	FEEDBACK INFRA PRIVATE LIMITED	Nominee director	12/01/2006	12/01/2006	28/04/2008	Active	NO
6	U99999MH2006NPL159749	ASIA SOCIETY INDIA CENTRE	Director	07/02/2006	07/02/2006	27/08/2007	Active	NO
7	U74920MH2006PLC160937	IDFC INVESTMENT ADVISORS LIMITED	Director	03/04/2006	03/04/2006	28/04/2008	Active	NO
8	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	30/05/2006	30/05/2006	08/06/2010	Active	NO
9	U65990MH2002PLC137533	IDFC TRUSTEE COMPANY LIMITED	Nominee director	26/09/2006	26/09/2006	-	Active	NO
10	U67190MH1995PLC092221	IDFC CAPITAL LIMITED	Director	21/09/2007	09/11/2006	25/11/2011	Active	NO
11	U99999MH1993PLC071865	IDFC SECURITIES LIMITED	Director	21/09/2007	18/12/2006	13/08/2012	Active	NO
12	U51103MH2007PLC167611	IDFC PROJECT EQUITY COMPANY LIMITED	Nominee director	06/02/2007	06/02/2007	-	Active	NO
13	U65929AP2003PLC040648	SPANDANA SPHOORTY FINANCIAL LIMITED	Director	23/07/2007	23/07/2007	25/10/2010	Active	NO
14	U60232DL2006PLC148406	DELHI INTEGRATED MULTI MODAL TRANSIT SYSTEM LIMITED.	Director	10/08/2007	10/08/2007	-	Active	NO
15	U67120MH1992PLC069769	NATIONAL STOCK EXCHANGE OF INDIA LTD.	Director	18/07/2008	28/09/2007	03/09/2012	Active	NO
16	U67190MH2007PLC174867	IDFC PPP TRUSTEESHIP COMPANY LIMITED	Director	09/10/2007	09/10/2007	28/04/2008	Strike off	NO
17	U60200MH2007PLC175335	JETPUR SOMNATH HIGHWAY LIMITED	Director	24/10/2007	24/10/2007	12/10/2009	Strike off	NO
18	U45203MH2007PLC176640	IDFC PROJECTS LIMITED	Director	11/12/2007	11/12/2007	25/04/2011	Active	NO
19	U85110DL2008NPL177990	LOK SOCIAL SERVICES	Director	25/02/2013	12/05/2008	-	Active	NO
20	U65993MH1999PLC123191	IDFC ASSET MANAGEMENT COMPANY LIMITED	Director appointed in casual vacancy	04/06/2008	04/06/2008	-	Active	NO
21	U40109AP2003PLC040899	DHEERU POWERGEN LIMITED	Nominee director	05/02/2010	05/02/2010	25/04/2011	Active	NO
22	U63090MH2002PLC136326	GREATSHIP (INDIA ) LIMITED	Director	25/06/2010	18/03/2010	10/02/2012	Active	NO
23	U93000DL2011NPL215231	IDFC FOUNDATION	Director	04/03/2011	04/03/2011	-	Active	NO
24	U74120MH2011PTC212162	JETPUR SOMNATH TOLLWAYS PRIVATE LIMITED	Director	30/06/2011	25/04/2011	10/10/2011	Active	NO
25	U45400MH2011PTC212418	UNIQUEST INFRA VENTURES PRIVATE LIMITED	Nominee director	15/11/2011	25/04/2011	18/07/2012	Active	NO
26	L35110MH1948PLC006472	THE GREAT EASTERN SHIPPING COMPANY LIMITED	Director	09/08/2012	10/02/2012	-	Active	NO

Name :

Mr. Sanjiv Nandan Sahai

Designation :

Managing Director

Address :

D-II/2, Court Lane, Civil Lines, Delhi – 110054, India

Date of Birth/Age :

14.01.1961

Qualification :

IAS

Date of Appointment :

10.08.2007

DIN No. :

00860449

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
1	U40103DL2001SGC111530	INDRAPRASTHA POWER GENERATION COMPANY LIMITED	Director	11/09/2006	11/09/2006	12/11/2007	Active
2	U74899DL2001SGC109135	PRAGATI POWER CORPORATION LIMITED	Director	11/09/2006	11/09/2006	12/11/2007	Active
3	U40103DL2001SGC111528	DELHI POWER COMPANY LIMITED	Director	20/09/2006	20/09/2006	12/11/2007	Active
4	U40103DL2001SGC111529	DELHI TRANSCO LIMITED	Director	03/10/2006	03/10/2006	12/11/2007	Active
5	U60232DL2006PLC148406	DELHI INTEGRATED MULTI MODAL TRANSIT SYSTEM LIMITED.	Managing director	10/08/2012	10/08/2007	-	Active
6	U65993UR2002SGC027065	UTTARAKHAND INFRASTRUCTURE DEVELOPMENT COMPANY LIMITED	Director	04/12/2008	04/12/2008	08/11/2013	Active
7	U60210DL2010SGC207119	DELHI TRANSPORT INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Nominee director	12/10/2011	01/09/2010	-	Active

Name :

Mr. Cherian Thomas

Designation :

Director

Address :

B-102, 1^st Floor, Som Vihar Apartments, Sec-12, R.K. Puram, New Delhi – 110021, India

Date of Birth/Age :

30.08.1962

Qualification :

Master of Management Studies (Finance)

Date of Appointment :

10.08.2007

DIN No. :

00707735

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	U45203KA2000PLC027382	INFRASTRUCTURE DEVELOPMENT CORPORATION (KARNATAKA) LIMITED	Director	04/10/2000	04/10/2000	-	Active	NO
2	U65993UR2002SGC027065	UTTARAKHAND INFRASTRUCTURE DEVELOPMENT COMPANY LIMITED	Director	18/11/2002	18/11/2002	-	Active	NO
3	U74899DL1990PTC040630	FEEDBACK INFRA PRIVATE LIMITED	Alternate director	12/01/2006	12/01/2006	28/04/2008	Active	NO
4	U60232DL2006PLC148406	DELHI INTEGRATED MULTI MODAL TRANSIT SYSTEM LIMITED.	Director	10/08/2007	10/08/2007	-	Active	NO
5	U45201BR2008PLC013439	BUDDHA SMRITI UDHYAAN DEVELOPMENT COMPANY LIMITED	Director	18/02/2008	18/02/2008	-	Under liquidation	NO
6	U74140DL2008PTC180993	J C ADVISORY SERVICES PRIVATE LIMITED	Director	17/07/2008	17/07/2008	-	Active	NO
7	U65910TN1996PTC036650	ESAF MICROFINANCE AND INVESTMENTS PRIVATE LIMITED	Director	30/09/2008	30/09/2008	-	Active	NO
8	U67190MH2007PLC174867	IDFC PPP TRUSTEESHIP COMPANY LIMITED	Director	29/06/2009	01/10/2008	-	Strike off	NO
9	U74899DL1993PTC052165	SHIKHAR MICROFINANCE PRIVATE LIMITED	Nominee director	12/08/2013	04/06/2009	-	Active	NO
10	U45200DL2011SGC216436	AP LAND & INFRASTRUCTURE DEVELOPMENT LIMITED	Nominee director	24/03/2011	24/03/2011	-	Active	NO
11	U93000DL2011NPL215231	IDFC FOUNDATION	Director	12/09/2011	27/04/2011	-	Active	NO

Name :

Mr. Animesh Abinash Kumar

Designation :

Nominee Director

Address :

Flat No. 3502, 35th Floor, Celesta Tower, No.5, Planet Godrej, Keshavrao Khadye Marg, Byculla (West), Mumbai – 400011, Maharashtra, India

Date of Birth/Age :

15.05.1968

Date of Appointment :

06.09.2013

DIN No. :

03529945

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	Company/ LLP Status	Defaulting status
1	U93000DL2011NPL215231	IDFC FOUNDATION	Director	12/09/2011	27/04/2011	Active	NO
2	U74910MH2007PTC175975	PIPAL TREE VENTURES PRIVATE LIMITED	Nominee director	25/07/2012	25/07/2012	Active	NO
3	U60232DL2006PLC148406	DELHI INTEGRATED MULTI MODAL TRANSIT SYSTEM LIMITED	Nominee director	06/09/2013	06/09/2013	Active	NO

Name :

Mr. Mungath Madhavan Kutty

Designation :

Nominee Director

Address :

D-I/101, Satya Marg, Chankyapur, New Delhi – 110065, India

Date of Birth/Age :

12.04.1960

Qualification :

IAS

Date of Appointment :

15.01.2014

DIN No. :

01943083

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	U45400DL2007GOI170534	DELHI POLICE HOUSING CORPORATION LIMITED	Director	09/09/2008	14/12/2007	29/06/2011	Active	NO
2	U92322DL2008NPL177534	SHAHJAHANABAD REDEVELOPMENT CORPORATION	Director	08/04/2011	08/04/2011	-	Active	NO
3	U74899DL1975PLC008007	DELHI TOURISM AND TRANSPORTATION DEVELOPMENT CORPORATION LIMITED	Director	28/04/2011	28/04/2011	28/12/2013	Active	NO
4	U74899DL2001PLC111525	BSES YAMUNA POWER LIMITED	Director	13/09/2011	21/05/2011	-	Active	NO
5	U74899DL2001PLC111527	BSES RAJDHANI POWER LIMITED	Director	13/09/2011	21/05/2011	-	Active	NO
6	U40109DL2001PLC111526	TATA POWER DELHI DISTRIBUTION LIMITED	Nominee director	05/08/2011	01/06/2011	-	Active	NO
7	U60232DL2006PLC148406	DELHI INTEGRATED MULTI MODAL TRANSIT SYSTEM LIMITED.	Nominee director	15/01/2014	23/06/2011	-	Active	NO
8	U60210DL2010SGC207119	DELHI TRANSPORT INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Nominee director	01/07/2011	01/07/2011	23/08/2011	Active	NO
9	U85191DL2008SGC178367	GEOSPATIAL DELHI LIMITED	Nominee director	17/01/2014	17/12/2013	-	Active	NO
10	L24232DL1988PLC030958	INDRAPRASTHA MEDICAL CORPORATION LIMITED	Additional director	28/01/2014	28/01/2014	-	Active	NO
11	U74899DL1995GOI068150	DELHI METRO RAIL CORPORATION LIMITED	Nominee director	30/01/2014	30/01/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Harvinder Pal Singh
Designation :	Finance Controller
Name :	Mr. Harvinder Pal Singh Chugh
Designation :	Company Secretary
Address :	217, GH-4, Kaveri Appartment, Sec – 21D, Faridabad, Haryana, India
Date of Birth/Age :	21.10.1961
Date of Appointment :	31.03.2008
PAN No.:	AAMPC1627P

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 18.09.2013

Names of Shareholders	No. of Shares
Lt. Governer of NCT of Delhi	73039
IDFC Foundation	73039
D.M. Spolia	1
Principal Secretary, Urban Development, GNCTD	1
Financial Commissioner	1
Secretary (Law and Justice)	1
Puneet K. Goel	1
Special Commissioner (TPL)	1
IDFC Foundation Cherian Thomas	2
IDFC Foundation Mahendra Shah	2
IDFC Foundation Sanjay Grewal	2
Total	146090

As on 18.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Government [Central and State]	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing expert services in urban transport and infrastructure development.

Products :

Item Code No. (ITC Code)	Product Description
99833235	Engineering services for mass transit systems, such as light rail or subway systems
99831110	Strategic management consulting services

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	Not Divulged

Banking Relations :	--
Auditors :
Name :	Mallya Shenoy and Associates Chartered Accountants
Address :	6/86, Old Rajinder Nagar, New Delhi – 110060, India
Income-tax PAN of auditor or auditor's firm :	AACFM7977Q
Holding 50% Shares of the Company:	GNCTD and its Nominees
Holding 50% Shares of the Company:	IDFC Foundation and its Associates CIN No.: U93000DL2011NPL215231
Associate:	· Transport Department, GNCTD Delhi Transport Infrastructure Development Corporation Limited CIN No.: U60210DL2010SGC207119 India PPP Capacity Building Trust Uttarakhand Infrastructure Development Company Limited CIN No.: U65993UR2002SGC027065 IDFC Mutual fund IDFC Limited CIN No.: L65191TN1997PLC037415

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.1000/- each	Rs. 10000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
146,090	Equity Shares	Rs.1000/- each	Rs. 146.090 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	146.090	146.090	146.090
(b) Reserves & Surplus	356.953	279.473	175.467
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	503.043	425.563	321.557
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	3.204	3.576	2.633
(c) Other long term liabilities	53.269	27.071	50.445
(d) long-term provisions	0.000	0.000	39.515
Total Non-current Liabilities (3)	56.473	30.647	92.593
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	59.900	82.948	22.719
(c) Other current liabilities	772.066	631.063	586.857
(d) Short-term provisions	95.592	100.359	35.059
Total Current Liabilities (4)	927.558	814.370	644.635
TOTAL	1,487.074	1,270.580	1,058.785
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	50.623	59.609	55.452
(ii) Intangible Assets	5.402	8.404	7.165
(iii) Capital work-in-progress	0.000	0.000	16.273
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	30.423	28.205	14.630
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	86.448	96.218	93.520
(2) Current assets
(a) Current investments	100.624	39.968	9.973
(b) Inventories	0.445	0.295	0.428
(c) Trade receivables	164.965	130.977	89.819
(d) Cash and cash equivalents	1,086.491	961.298	813.622
(e) Short-term loans and advances	17.834	18.233	36.372
(f) Other current assets	30.267	23.591	15.051
Total Current Assets	1,400.626	1,174.362	965.265
TOTAL	1,487.074	1,270.580	1,058.785

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	741.811	809.852	1199.223
		Other Income	53.581	57.420	42.677
		TOTAL	795.392	867.272	1241.900
Less	EXPENSES
		Cost of materials consumed	33.786	0.000	0.000
		Employee benefit expense	292.121	244.316	175.732
		Other expenses	348.745	458.489	950.785
		Exceptional items	(8.756)	1.399	1.064
		Extraordinary items	(5.083)	(12.632)	(0.525)
		TOTAL	660.813	691.572	1127.056
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		134.579	175.700	114.844
Less/ Add	DEPRECIATION/ AMORTISATION		19.536	18.199	13.910
	PROFIT/ (LOSS) BEFORE TAX		115.043	157.501	100.934
Less	TAX		37.564	53.494	32.018
	PROFIT/ (LOSS) AFTER TAX		77.479	104.007	68.916
	EARNINGS IN FOREIGN CURRENCY
		EU Stadium Sponsorship Fees Received	0.000	1.629	0.000
		Consultancy Fee for Bangalore Monorail	0.000	2.600	0.000
		Vinci Concessions Development Pte Limited	0.158	0.000	0.000
	TOTAL EARNINGS		0.158	4.229	0.000
	Earnings / (Loss) Per Share (Rs.)		530.35	711.94	471.73

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	9.74	11.99	5.55
Net Profit Margin (PBT/Sales)	(%)	15.51	19.45	8.42
Return on Total Assets (PBT/Total Assets}	(%)	7.74	12.40	9.68
Return on Investment (ROI) (PBT/Networth)		0.23	0.37	0.31
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.51	1.44	1.50

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	146.090	146.090	146.090
Reserves & Surplus	175.467	279.473	356.953
Net worth	321.557	425.563	503.043
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1199.223	809.852	741.811
		(32.469)	(8.402)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1199.223	809.852	741.811
Profit	68.916	104.007	77.479
	5.75%	12.84%	10.44%

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	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	No
24]	Banking facility details	No
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	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

COMPANY BACKGROUND

Subject was incorporated as a Special Purpose Vehicle pursuant to the Cabinet decision No.1032 dated 10^th February 2006 of Government of Delhi.

Thereafter, GNCTD entered into an agreement with Infrastructure Development Finance Company Limited (IDFC) on 4^th July 2007, and now DIMTS is a Joint Venture with equal equity of GNCTD and Infrastructure Development Finance Company Limited (IDFC) and working to provide expert services in urban transport and infrastructure development.

The shares of IDFC Limited have been transferred to IDFC Foundation (A Section 25 company-not for Profit Company) on 28 th of March 2011.

OPERATIONAL REVIEW

This financial year, many projects that the Company had been working on during the previous financial year, became operational. These include the installation of GPS in autos and water tankers of DJB and completion of the renovation work of the operational area of the ISBT at Kashmere Gate, among others. The company also bagged several new projects this year, while continuing to successfully operate and execute some of its existing projects.

They are glad to inform you that the Company achieved a profit before tax of Rs. 115.043 Millions as against Rs. 157.501 Millions in the previous year.

Profit after tax stood Rs. 77.479 Millions as against Rs 104.007 Millions in the previous year.

The details of some of the key projects that the company is working on are given below:

Projects

Corporatization of Private Stage Carriage Buses

The Corporatization of Private Stage Carriage Buses scheme which was launched in May,2011 with the roll out of new orange coloured low-floor buses under cluster 1, continued its successful running with the operationalization of more clusters and buses. Clusters 2-5 were also inaugurated this year and the total number of Delhi Transit buses at the close of the financial year was 501 and 644 at the end of August 2013. These buses continue to operate from five depots.

The Delhi Transit buses are known for their high efficiency levels, achieving nearly 98% operational efficiency. The average high earning of cluster buses (by 10-15%) compared to DTC buses on the same routes is chiefly attributable to state-of-the-art IT enabled monitoring. Keen on further improving the services provided to the public, a feedback system has also been put in place, allowing people to reach the senior management with any feedback or complaint. Meanwhile, concessionaire agreement has also been signed for the operationalization of clusters 6-9 in which a total of 1294 buses will be inducted.

Development/Re-development of Inter-State Bus Terminals (ISBT) at Kashmere Gate, Sarai Kale Khan and Anand Vihar

As the Project Management Consultant, DIMTS has been handling the development/redevelopment work of the three Multi-Modal Transit Centres (MMTCs) in the city . The inaugration of the operational area of the ISBT at Kashmere Gate having an air conditioned waiting lounge, food court, glass elevator and escalators was done on 2 nd May,2013. Final approvals are awaited to commence work on the Sarai Kale Khan and Anand Vihar MMTCs.

The renovated ISBT at Kashmere Gate, boasts of several passenger facilities like, lifts, escalators, air-conditioning, granite flooring, passenger information boards, better parking facility etc.

The other ISBTs too will be developed on the same lines and the ISBT at Sarai Kale Khan will be developed as a Green Building.

Design and Project Management Consultancy services for various Infrastructure Projects of Noida Authority

Noida Authority has awarded four infrastructure development projects to DIMTS that include design and project management assignment for construction of foot over bridges at 13 locations, a half flyover and U-turn at ground level in front of Sector-15A, conversion of five minor underpasses to major underpasses at Noida?Greater Noida Expressway and construction of a underpass under NH-24 in between Sector-62 and 63 by box pushing method. All projects are at different stages of work and are expected to be completed by 2014.

Automatic Vehicle Location (GPS Devices in Public Service Vehicles )

The project on Automatic Vehicle Location (AVL) involves setting up of GPS based vehicle tracking and monitoring system in the city buses in Delhi. It is operational in around 4500 buses and 255 bus queue shelters in Delhi.

The project has expanded further now to include Autos and water tankers of the Delhi Jal Board. Around 20,000 autos and 377 water tankers have GPS installed in them and can be tracked online. Government is planning to install GPS devices in all public transport vehicles.

Tracking of water tankers for Delhi Jal Board (DJB)

The tracking solution for DJB monitors the water tankers and c omputes the payments to the vendors through the system defined rules. The solution enables measurement of quantity of water filled and dispensed on real time basis. Water level sensor integrated with GPS, indicates real time location of the tanker and the quantity of water carried in it.

Implementation of GPS on New Autos for tracking and monitoring

This engagement envisages installing integrated Electronic fare meter in new autos with GPS and monitoring the real time tracking of the autos in Delhi. The system transmits trip and panic related data to their backend. Plans are also afoot to put in place a dispatch system enabling auto on call, panic button integration with law enforcement agency and complaint management with details of routes and location.

Passenger Information System (PIS) in Delhi

The Passenger Information System (PIS) is part of the AVL system. The GPS gives the location of the bus and a backend application uses this information to calculate the Expected Arrival Time of the bus. This information is then transmitted to the PIS boards that are installed at the bus stops. The PIS has been installed by DIMTS in 90 BQS on the BRT corridor and 165 BQS in the NDMC area. It is in the process of coordinating the roll out of PIS in 335 additional BQS in Delhi.

With full roll out of PIS, the commuter would also be able to plan his/her journey by sending the bus arrival query through mobile messaging (sms).

Highway Traffic Management System consultancy to Noida

A Highway Traffic Management System is being set-up for Greater-Noida Expressway spread over an area of 25 kms. comprising of Video Incident Detection System with Image Processing Module, CCTV based Surveillance System, Variable Message Signs, Emergency Call Box with NTCIP Compatible HTMS Control Room. DIMTS is providing the design specification and cost estimate report along with a tentative BOQ.

Smart card based Driving Licences, PSV Badges and Commercial Vehicle Permits

DIMTS is successfully managing issuance of smart card based driving licences, PSV badges and commercial vehicle permits from all Transport Zonal Offices in Delhi. During the last 6 years, DIMTS has already issued over 17 lakh learners? licences and 25 lakh smart card based driving licences. The system has become effective and transparent by introduction of services like online appointment, e-payment and computerized learner?s licence test.

Development of India’s Largest and Most Complex Multi-modal Transit Hub for Urban Commuters

Ministry of Railways (MOR) has decided to identify railway stations for development/redevelopment world class across India through a Special Purpose Vehicle named as Indian Railway Stations Development Corporation Limited? (IRSDC) with equity participation of Ircon International Limited (IRCON) and Rail Land Development Authority (RLDA). In the first phase, Anand Vihar railway station in Delhi has been identified for development through IRSDC. The project is highly complex in nature, since the location is already operational as a hub catering to an interstate bus terminus, one metro station besides the railway station. Further, a second metro station and one regional rapid rail system is also proposed to be located here and the inter state bus terminus is also under major redevelopment. Based on DIMTS ability to design and implement such complex multi modal centres, DIMTS has been given the mandate to prepare the Master Plan including architectural concept plan and

preliminary design of structures, project facilities , Feasibility Report, Business Plan for the Project. Further DIMTS shall also identify suitable developers for station side developments under suitable public private partnerships structure and shall be responsible for concession agreement with the Manual of Standards and Specifications, bid documents and bid management. The project is expected to be the largest and most complex

multi-modal centre ever designed in India.

Project Monitoring for BRT in Naya Raipur

The Bus Rapid Transit System (BRT) in the city of Naya Raipur is aimed at providing access to high speed intercity travel between the Raipur and Naya Raipur. Naya Raipur being a new city is designed to decongest the existing city, which is congested due to unplanned road network infested with heterogeneous traffic conditions. The project intervention is thus aimed at introducing exclusive bus lanes on all major arterial roads. The BRT System will cover the central spine of the Naya Raipur city. DIMTS will carry out a project evaluation exercise to evaluate whether the NRDA has achieved its goal after implementation of the BRTS Project. The project evaluation exercise is to be carried out by comparing the existing (baseline) situation with that of the situation during, immediately following implementation and after implementation of the project. The project monitoring and evaluation will be based on the collection and analysis of identified performance indicators which reflect the project outcomes and documents the outcomes.

Preparation of Advertisement Master Plan and Allied Activities for five cities of Madhya Pradesh (Bhopal, Indore, Gwalior, Jabalpur and Ujjain)

DIMTS is advising Department of Urban Administration and Development, Government of Madhya Pradesh for Preparation of Advertisement Master Plan, Implementation Plan, Monitoring and Evaluation Plan. Relevant rules/ byelaws shall be prepared as part of the exercise including writing out of detailed advertisement policy for out-door media spaces for five cities namely Bhopal, Indore, Ujjain, Jabalpur and Gwalior.

CMPs for various cities (Rohtak, Thootukudi)

DIMTS prepared detailed Comprehensive Mobility Plan (CMP) to guide the future urban development of the city and to undertake identified transport infrastructure projects to ease the existing congestion level. The CMP study apart from formulating a transport improvement road map for the future of the city also includes an identified transport investment program containing short, medium and long term projects.

Transit Oriented Development (TOD) Modeling for Phase I of the TOD Policy Development in Delhi

DIMTS will build a base transit-oriented development model and a set of tools that will help develop, test and model the impacts of various land use mixes, street network characteristics and urban design parameters on the traffic forecast for Transit Oriented Development sites in Delhi.

Construction of link road from Dwarka to Delhi-Haryana border

DIMTS has been appointed by Delhi Development Authority (DDA) as Project Management Consultant for this project. This includes:

· Integrated Transit Corridor Development Plan of Zonal Development Plan. Development of road from UER-II to Delhi border.

· Integration Plan of both sides of link road.

· Detailed Intersection Plan with UER-I and II in Dwarka

Comprehensive Mobility Plan for Bhopal, Dehradun and Mussoorie

A Comprehensive Mobility Plan (CMP) is a vision for sustainable mobility of people in the metropolitan regions with a horizon of usually 20 years. The CMP also encourages use of public transport, suggests improvements of facilities for pedestrians and non-motorized modes and identifies interventions needed in the existing infrastructure to improve the urban transport system

DIMTS was engaged to prepare the CMP for Bhopal by the Bhopal Municipal Corporation and for Dehradun and Mussourie by UDec. The CMPs have been submitted.

Railway projects

The Railways vertical of DIMTS has been working on several new projects. DIMTS has now been included in the list of consultants in eight railway zones and has even started working in one of the zones, i.e. for the East Coast Railway in Bhubaneswar. The team is also working on several private railway projects which are listed below:

· Project management consultancy for Anuppur Salka doubling (new railway line project of RVNL) for DSC Limited

· Value Engineering of the detailed project report, preparation of bid documents and technical evaluation of bidders for the Private Railway Siding for the thermal power plant at Jaithari (Anuppur) for MB Power (MP) Limited

· Pre-feasibility report for a private railway siding for Lalitpur Thermal Power Plant for Bajaj Energy Limited.

· Preparation of detailed project report, detailed design engineering, geo-technical investigation, bid process management and environment impact assessment for construction of double-line at two locations: Gevra Road Pendara Road and Dharam Jaigarh to Korba.

· Preparation of detailed project report, engineering scale plant, carrying out of bid process management and project management consultancy for the re-modelling of existing sidling at Jalandar.

· Pre-bid consultancy services to ERA, which is bidding for tender from Dedicated Freight Corridor Corporation India Limited

Unique Identification (UID) Project

DIMTS has been carrying out the UID enrollment procedure for its four clients, i.e. State Bank of India, the Government of Punjab, Department of Post and NSDL in the states of Rajasthan, Haryana, Uttrakhand and Delhi Punjab and Himachal Pradesh. In phase I (From Jan 11 to Mar 12) 24.06 lakhs enrollments were completed and in phase II (From April 12 till March 13) 1.055 Millions and 2.048 Millions (From April 12 till August 13) successful enrolments have been done.

FIXED ASSETS

v Tangible Assets

Furniture and Fixtures

Vehicles

Motor Vehicles

Office Equipment

v Intangible Assets

Brands and Trade Marks

Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, 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.61.94
UK Pound	1	Rs.103.31
Euro	1	Rs.85.11

INFORMATION DETAILS

Information Gathered by :	HNA
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.