MIRA
INFORM REPORT
|
Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMBASSY PROPERTY DEVELOPMENTS PRIVATE LIMITED (w.e.f. 19.01.2013) |
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Formerly Known
As : |
EMBASSY PROPERTY DEVELOPMENTS LIMITED (w.e.f. 25.05.2010) EMBASSY PROPERTY DEVELOPMENTS PRIVATE LIMITED (w.e.f. 01.04.2010) DYNASTY DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
1st Floor, Embassy
Point, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
30.07.1996 |
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Com. Reg. No.: |
08-020897 |
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Capital
Investment / Paid-up Capital : |
Rs. 9749.790 millions |
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CIN No.: [Company Identification
No.] |
U85110KA1996PLC020897 |
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PAN No.: [Permanent Account No.] |
AAACD6927A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Real estate developer. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 54000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The management
of the company has failed to file its financials with the government
department for the year 2013. As per previous year’s record, the company has incurred a loss from
its operations. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million worth
of mobile-phone-based transactions by July 2013 compared to Rs.260 million in
September, 2012, according to Deloitte report. The number of transactions has
shot up from 94000 to 701000.
India aims to earn Rs.400000
million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Convertible debentures: BBB- (withdrawn) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
March 2013 |
Note: The rating agency has withdrawn the rating as the
subject has fully redeemed the instrument.
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
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Registered Office : |
1st Floor, Embassy
Point, #150, Infantry Road, Bangalore-560001, Karnataka, India |
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Tel. No.: |
91-80-41799999 / 41799888 |
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Fax No.: |
91-80-22286912 / 41799955 |
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E-Mail : |
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Website : |
DIRECTORS
As on 21.09.2012
|
Name : |
Mr. Jitendra Virwani |
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Designation : |
Managing director |
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Address : |
#341, Embassy Woods, 6A, Cunningham Road, Bangalore – 560052,
Karnataka, India |
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Date of Birth/Age : |
18.02.1966 |
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Date of Appointment : |
31.07.1996 |
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PAN No.: |
AAVPV0738P |
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DIN No.: |
00027674 |
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Name : |
Mr. Narpat Singh Choraria |
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Designation : |
Whole-time director |
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Address : |
Flat No. 603, Embassy Orchid, 6th Floor, No. 57/38, 8th
Main Road, RMV Etn, Sadashivanagar. Bangalore - 560080, Karnataka, India |
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Date of Birth/Age : |
04.09.1953 |
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Date of Appointment : |
20.01.2001 |
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DIN No.: |
00027580 |
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Name : |
Mr. Kunju Yesodharan Gopikrishnan |
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Designation : |
Whole-time director |
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Address : |
# 402, Embassy Tranquil, No.
22, 8th Main Road, 3rd Block, Koramangala, Bangalore -
560034, Karnataka, India |
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Date of Birth/Age : |
05.04.1966 |
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Date of Appointment : |
01.04.2002 |
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DIN No.: |
00056536 |
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Name : |
Mr. Vaidyanathan Panchapagesan |
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Designation : |
Director |
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Address : |
7AB, Kences Enclave, Block III, No.1 Ramakrishna Street, T.Nagar, Chennai-600017, Tamilnadu, India |
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Date of Birth/Age : |
29.10.1947 |
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Date of Appointment : |
02.06.2010 |
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DIN No.: |
00029503 |
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Name : |
Mr. Chandra Das Sitaram |
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Designation : |
Director |
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Address : |
No.28, Casia Drive,
Singapore 289721 |
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Date of Birth/Age : |
19.10.1939 |
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Date of Appointment : |
02.06.2010 |
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DIN No.: |
00304798 |
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Name : |
Mr. Kishore Laxminarayan Biyani |
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Designation : |
Director |
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Address : |
406, Jeevan Vihar, Mandir Road,
Malabhar Hill, Mumbai - 400006,
Maharashtra, India |
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Date of Birth/Age : |
09.08.1960 |
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Date of Appointment : |
02.06.2010 |
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DIN No.: |
00005740 |
KEY EXECUTIVES
|
Name : |
Mr. Veerraju J |
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Designation : |
Secretary |
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Address : |
Flat No.G-1, Taskar Park, Taskar Street, Park Street, Bangalore-560052, Karnataka, India |
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Date of Birth/Age : |
05.06.1972 |
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Date of Appointment : |
28.04.2010 |
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PAN No.: |
AESPJ5820K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2012
|
Names of Shareholders |
Address |
No. of Shares |
|
Jitendra Virwani |
341 Embassy Woods, 6A Cunningham Road, Bangalore – 560052, Karnataka, India |
3810000 |
|
J V Holding Private Limited, India |
1 Floor, Embassy Point No.: 150, Infantry Road, Bangalore – 560001, Karnataka, India |
896167095 |
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JV Family Trust |
1 Floor, Embassy Point No.: 150, Infantry Road, Bangalore – 560001, Karnataka, India |
75000000 |
|
Jitendra Virwani jointly with Narpat Singh Choraria |
341 Embassy Woods, 6A Cunningham Road, Bangalore – 560052, Karnataka, India |
381 |
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Jitendra Virwani jointly with Kunju Yesodharan Gopikrishnan |
341 Embassy Woods, 6A Cunningham Road, Bangalore – 560052, Karnataka, India |
381 |
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Jitendra Virwani jointly with P R Ramakrishnan |
341 Embassy Woods, 6A Cunningham Road, Bangalore – 560052, Karnataka, India |
381 |
|
Jitendra Virwani jointly with Rajesh Bajaj |
341 Embassy Woods, 6A Cunningham Road, Bangalore – 560052, Karnataka, India |
381 |
|
Jitendra Virwani jointly with A. T. Gopinath |
341 Embassy Woods, 6A Cunningham Road, Bangalore – 560052, Karnataka, India |
381 |
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Total |
|
974979000 |
Equity Share Break up (Percentage of Total Equity)
As on 21.09.2012
|
Category |
Percentage |
|
Bodies corporate |
91.92 |
|
Directors or relatives of Directors |
0.39 |
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Other top fifty shareholders |
7.69 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real estate developer. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri,
Baroda-390015, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution: |
Housing
Development Finance Corporation Limited, Ramon House 169backbay Reclamation,
H T Parekh Marg, Mumbai - 400020, Maharashtra, India |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
Maruthi Info-Tech Centre11-12/1, Inner Ring Road, Koramangala, Bangalore, Karnataka, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFB4734C |
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Holding Company: |
·
J V Holding Private Limited, India ·
CIN: U65993KA2008PTC045095 |
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Subsidiary
company: |
·
World Crown Limited ·
Dynasty Business Parks SDN BHD ·
Concord India Private Limited, India ·
CIN: U51101KA1973PTC002298 ·
Pune Dynasty Projects Private Limited , India ·
CIN: U70101KA2007PTC041383 ·
Pune Embassy Projects Private Limited, India ·
CIN: U70102KA2007PTC041347 ·
Blue Lagoon Real Estate Private Limited, India ·
CIN: U70102KA2006PTC041222 ·
Neptune Real Estate Private Limited, India ·
CIN: U70102KA2007PTC041412 ·
Embassy Projects Private Limited, India ·
CIN: U70200KA1997PTC022353 ·
Nam Estates Private Limited, India ·
CIN: U85110KA1995PTC017950 ·
Saphire Realtors Private Limited, India ·
CIN: U70101KA1994PTC016356 ·
Summit Developments Private Limited, India ·
CIN: U70200KA2011PTC057054 |
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Individuals,
Associates and Companies under common control: |
·
Morefinanshare Investments Private Limited, India
·
CIN: U67120KA1995PTC035122 ·
DSRK Holdings Private Limited (merged with
Manyata Promoters Private Limited w.e.f. 31 March 2009) ·
CIN: U85110KA1995PTC018596 ·
Embassy Construction and Development Private
Limited, India ·
CIN: U00500KA1996PTC020896 ·
Saltire Developers Private Limited, India ·
CIN: U70102KA2006PTC038332 ·
Swire Investments Private Limited ·
Ditrita Developers Private Limited, India ·
CIN: U85110KA1994PTC016010 ·
Oakwood Developers Private Limited, India ·
CIN: U85110KA1994PTC016009 ·
Nam Investments Private Limited, India ·
CIN: U65993KA1994PTC016382 ·
Umbel Properties Private Limited, India ·
CIN: U85110KA1994PTC016609 ·
Embassy Real Estate Properties and Holdings
Private Limited, India ·
CIN: U70200KA2004PTC035123 ·
Dynasty Properties Private Limited, India ·
CIN: U45201KA2001PTC029834 ·
Embassy Knowledge Infrastructure Projects Private
Limited, India ·
CIN: U80103KA2007PTC042502 ·
D M Estates Private Limited, India ·
CIN: U85110KA1995PTC018594 ·
Dynasty Holdings Private Limited, India ·
CIN: U85110KA1994PTC016008 ·
Span Ventures Private Limited, India ·
CIN: U14102TZ2005PTC011537 ·
Infantry Holdings Private Limited ·
Embassy Housing Finance and Development Private
Limited, India ·
CIN: U85110KA1995PTC016930 ·
Oasis Home Holdings Private Limited, India ·
CIN: U85110KA1994PTC016072 ·
Embassy Shelters Private Limited, India ·
CIN: U85110KA1995PTC017630 ·
Vijaygi Investments Private Limited, India ·
CIN: U45201KA2007PTC041379 ·
R G Lakeside Properties Private Limited, India ·
CIN: U45201KA2007PTC042356 ·
M D Realtors Private Limited, India ·
CIN: U85110KA1995PTC017560 ·
Golf Links Software Park Private Limited, India ·
CIN: U45309KA2000PTC028147 ·
Golf Link Embassy Business Park Management
Services Private Limited, India ·
CIN: U85110KA1994PTC016281 ·
DSRK Holdings (Chennai) Private Limited, India ·
CIN: U45202TN2006PTC060010 ·
Manyata Promoters Private Limited, India ·
CIN: U70102KA2000PTC027477 ·
G V Properties Private Limited, India ·
CIN: U45201KA2007PTC041384 ·
RGE Constructions and Developments Private
Limited, Indai ·
CIN: U70101TN2007PTC064100 ·
Embassy Services Private Limited, India ·
CIN: U85110KA1995PTC018887 ·
Swire Holdings Private Limited ·
Raffle Square Development Corporation Private
Limited, India ·
CIN: U85110KA1995PTC018068 ·
Pet Properties and Constructions Private Limited,
India ·
CIN: U70101KL1995PTC008794 ·
Wild Flowers Estate and Resorts Private Limited,
India ·
CIN: U51102KA2004PTC034295 ·
Embassy Holdings ·
Swire Properties Private Limited ·
Trafalgar Estate and Properties Private Limited,
India ·
CIN: U70200KA2008PTC047822 ·
L J Victoria Properties Private Limited, India ·
CIN: U70200KA2008PTC047769 ·
Starwood Properties Private Limited, India ·
CIN: U70200KA2008PTC047748 ·
Infantry Holdings Private Limited, India ·
CIN: U99999KA1995PTC018637 ·
Embassy Brindavan Developers ·
Embassy Development Corporation ·
Polywood Properties Private Limited, India ·
CIN: U45200KA2008PTC047898 ·
Swire Tech Park Projects Private Limited, India ·
CIN: U45200KA2008PTC045124 ·
Synergy Property Development Services Private
Limited, India ·
CIN: U74140KA2003PTC031477 ·
Udhyaman Investments Private Limited, India ·
CIN: U45201KA1995PTC017952 ·
Stonehill Education Foundation, India ·
CIN: U80900KA2008NPL046155 ·
Solomon David Holdings Private Limited, India ·
CIN: U85110KA1995PTC018519 ·
Cosmos Construction Consultants Private Limited,
India ·
CIN: U70200KA1997PTC022349 ·
DNR Estates Private Limited, India ·
CIN: U85110KA1995PTC017882 ·
Embassy Maini Logistics Bangalore Private
Limited, India ·
CIN: U60231KA2009PTC050991 ·
Stylus Commercial Services Private Limited, India
·
CIN: U74140KA2005PTC037141 ·
GolfLinks Properties Private Limited, India ·
CIN: U45200KA2009PTC051005 ·
Anko Construction Private Limited, India ·
CIN: U85110KA1972PTC014816 ·
M K Embassy Land Developers Private Limited,
India ·
CIN: U45205KA2010PTC054663 |
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Partnership firm
in which the Company is a partner: |
·
Swire Properties ·
Magrath Property Developers ·
Embassy ANL Consortium ·
Grove Ventures |
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|
|
|
Partnership firm
in which the director is a partner: |
·
Global Façade Solutions |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1300000000 |
Equity Shares |
Rs.10/- each |
Rs. 13000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
974979000 |
Equity Shares |
Rs.10/- each |
Rs. 9749.790
Millions |
|
|
|
|
|
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 |
|
9749.790 |
9749.790 |
|
(b) Reserves & Surplus |
|
3702.105 |
4080.533 |
|
(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) |
|
13451.895 |
13830.323 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2561.021 |
1784.108 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
2943.903 |
351.980 |
|
(d) long-term provisions |
|
2.970 |
6.360 |
|
Total Non-current Liabilities (3) |
|
5507.894 |
2142.448 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
5735.180 |
5097.028 |
|
(b) Trade payables |
|
2277.815 |
776.275 |
|
(c) Other current
liabilities |
|
5308.337 |
5647.113 |
|
(d) Short-term provisions |
|
53.393 |
39.118 |
|
Total Current Liabilities (4) |
|
13374.725 |
11559.534 |
|
|
|
|
|
|
TOTAL |
|
32334.514 |
27532.305 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1585.766 |
1412.920 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
343.679 |
263.438 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
14671.432 |
15166.474 |
|
(c) Deferred tax assets (net) |
|
0.000 |
28.459 |
|
(d) Long-term Loan and Advances |
|
4207.938 |
3100.028 |
|
(e) Other Non-current assets |
|
688.031 |
628.841 |
|
Total Non-Current Assets |
|
21496.846 |
20600.160 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
21.028 |
26.829 |
|
(b) Inventories |
|
7293.910 |
3316.139 |
|
(c) Trade receivables |
|
132.355 |
86.317 |
|
(d) Cash and cash
equivalents |
|
729.242 |
918.916 |
|
(e) Short-term loans and
advances |
|
2339.343 |
1707.450 |
|
(f) Other current assets |
|
321.790 |
876.494 |
|
Total Current Assets |
|
10837.668 |
6932.145 |
|
|
|
|
|
|
TOTAL |
|
32334.514 |
27532.305 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
25.590 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
13791.085 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
13816.675 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1731.653 |
|
|
2] Unsecured Loans |
|
|
2597.224 |
|
|
TOTAL BORROWING |
|
|
4328.877 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18145.552 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1288.091 |
|
|
Capital work-in-progress |
|
|
271.627 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
13462.114 |
|
|
DEFERRED TAX ASSETS |
|
|
24.323 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2231.788 |
|
|
Sundry Debtors |
|
|
128.150 |
|
|
Cash & Bank Balances |
|
|
154.272 |
|
|
Other Current Assets |
|
|
381.710 |
|
|
Loans & Advances |
|
|
3198.246 |
|
Total
Current Assets |
|
|
6094.166 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1082.805 |
|
|
Other Current Liabilities |
|
|
1903.726 |
|
|
Provisions |
|
|
8.238 |
|
Total
Current Liabilities |
|
|
2994.769 |
|
|
Net Current Assets |
|
|
3099.397 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18145.552 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1692.924 |
2097.650 |
1250.227 |
|
|
|
Other Income |
146.833 |
119.203 |
14.883 |
|
|
|
TOTAL (A) |
1839.757 |
2216.853 |
1265.110 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
|
687.428 |
166.467 |
|
|
|
Administrative selling other expenses |
|
502.839 |
613.465 |
|
|
|
TOTAL (B) |
2189.726 (Including
financial expenses and depreciation) |
1190.267 |
779.932 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
1026.586 |
485.178 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
901.598 |
369.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
124.988 |
116.130 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
33.075 |
14.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(349.969) |
91.913 |
101.888 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
28.459 |
78.265 |
50.143 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(378.428) |
13.648 |
51.745 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.39) |
0.01 |
0.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(20.57)
|
0.62 |
4.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(20.67)
|
4.38 |
8.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.02)
|
0.76 |
1.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03)
|
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.62
|
1.80 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81
|
0.60 |
2.03 |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONAL REVIEW AND FUTURE:
By the end of FY
2011-2012, the company had developed over 30 million square feet of real estate
space since inception. Although Embassy continues to focus on its core strength
of commercial space in the Bangalore micro market, the past year saw portfolio
diversification with prominent launches in the residential segment. These
residential developments span over 2.3m sq ft. namely Embassy Pristine and
Embassy Boulevard.
In order to cater
to the various consumer segments within the premium segment each of the
developments offer a unique experience. Embassy Pristine, a luxury apartment
complex off Sarjapur Road facing Belandur Lake. A total of 424 units, ranging
from 3 to 5 bedroom apartments provide views of the 1000 acre lake. Embassy
Boulevard, a project consisting of 170 uber premium villas ranging from 4000 to
8000 sq.ft. is located on 51 acres, off the international airport road. Both
the aforementioned projects are landmark projects and thus display the
managements expertise in identifying and acquiring land that can be immediately
monetized coupled with the ability to envision unique propositions thus forcing
the market to mature.
Construction of
Hilton Residency, Embassy’s first hospitality project is on the finishing
stages with operations due to start in the forthcoming year. The project
includes 248 rooms which are a combination of studios, one bedroom and two
bedroom units. The development is state of the art and has excellent amenities
including complimentary access for the guests to the KGA golf. As the property
is midst of Golf Links Business Park, the two establishments will complement
each other, generating robust revenue streams.
OUTLOOK OF THE COMPANY FOR THE UPCOMING YEAR:
The company will
focus on Commercial real estate development while continuing its strategy of
portfolio diversification which would result in alternative revenue streams.
As part of
Embassy’s international foray, the Company has looked at expansion beyond
Malaysia. A new IT park in Serbia further enhances Embassy’s position as a
developer with a strong international portfolio. The groundbreaking at Embassy
TechZone in Serbia is expected in the forthcoming fiscal year, with the
proposed launch of Phase 1, developing commercial space of 250,000 sq ft. in
order to grow this as a destination IT park in eastern Europe.
Embassy will
strengthen its residential portfolio in Bangalore with the launch of Embassy
Lake Terraces and Embassy Grove. Phase 2 of Embassy Residency will be launched
in the latter half of the forthcoming fiscal year.
Further the group
will continue to focus on its core competencies in commercial real estate with
further developments at Embassy Techzone (Pune), Manyata Business Park. The
Company this forthcoming fiscal will start the preliminary development and
approval works on Embassy Springs and Embassy Knowledge Park which are the
proposed integrated township developments located in north Bangalore. Embassy
Knowledge Park, a 216-acre project near the airport is a hybrid development; an
Integrated township consisting of both commercial and residential developments
with retail, hospitality, school, entertainment and such other facilities.
Embassy Springs, a 217 acre project near the airport, consisting of primarily
residential development with support infrastructure facilities.
STATUS OF IPO
Due to the present
capital market conditions, the Company decided to review the plan later, once
the capital market improve.
SUBSIDIARY COMPANIES
There are 12
(Twelve) subsidiary companies as on March 31, 2012. The financial details of
the subsidiary companies as well as the extent of holdings therein are provided
in a separate section of the Annual Report..
JOINT VENTURES
There are 7(seven)
Joint Venture companies as on March 31, 2012. The details of the same are
covered in the financials.
HOLDING COMPANIES
The Company is subsidiary of M/s. JV Holding Private Limited, Bangalore.
BACKGROUND
Subject was
incorporated on 30 July 1996 and is primarily engaged in the business of real
estate development and related consulting services, leasing of properties,
making investments in joint developments, investing in companies/firms which
are into real estate development. The Company changed its name from Dynasty
Developers Private Limited to Embassy Property Developments Private Limited
with effect from 1 April 2010. Subsequently on 25 May 2010, the Company was
converted into a public limited company.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
1843.155 |
450.000 |
|
Short-term
borrowings |
|
|
|
Term loans from others |
1109.210 |
1216.802 |
|
Deposits |
635.725 |
478.225 |
|
Total |
3588.090 |
2145.027 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10461319 |
21/10/2013 |
1,000,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION
LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
B89999650 |
|
2 |
10447636 |
05/08/2013 |
1,600,000,000.00 |
IL and FS TRUST COMPANY LIMITED |
IL AND FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA |
B84317478 |
|
3 |
10449163 |
25/07/2013 |
200,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION
LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
B85054401 |
|
4 |
10384916 |
02/11/2012 * |
420,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH
FLOOR, INTERNATIONAL INFOTECH PARK, T |
B61860219 |
|
5 |
10439947 |
11/10/2013 * |
2,750,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED
|
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
B89855449 |
|
6 |
10338784 |
28/02/2012 |
1,750,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION
LIMITED |
RAMON HOUSE 169BACKBAY
RECLAMATION, H T PAREKH MA |
B33521600 |
|
7 |
10320596 |
10/10/2011 |
2,000,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION
LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
B26588194 |
|
8 |
10285197 |
28/02/2012 * |
1,500,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION
LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA |
B33523937 |
|
9 |
10274609 |
28/03/2012 * |
562,500,000.00 |
PUNJAB NATIONAL BANK |
BANGALORE CITY
BRANCH,VOKKALIGARA SANGHA BUILDING,
1ST FLOOR, HUDSON CIRCLE, BANGALORE, KARNATAKA |
B37838661 |
|
10 |
10246964 |
09/03/2012 * |
1,800,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH
FLOOR, INTERNATIONAL INFOTECH PARK, T |
B34192310 |
* Date of charge modification
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Office equipment
PRESS RELEASES
MANYATA EMBASSY BUSINESS PARK ADJUDGED "BEST IT PARK"
Embassy Group, India’s leading property developer, today announced that its prestigious business park - Manyata Embassy Business Park - has been awarded the ‘Best IT Park’ at the NDTV Property Awards held recently in New Delhi.
The function, organised at The Taj Palace Hotel, had Union Minister for Housing and Poverty Alleviation Ajay Maken as the Chief Guest along with some prominent leaders from the real estate world. The jury that chose Embassy’s project for the award comprised Mrs. Renu Sud Karnad, MD, HDFC; Prof Dr. Neelima Risbud, Dean of Studies, SPA (School of Planning and Architecture), Delhi; Mr. Rohit Salhotra, MD and CEO ICICI-HFC; Mr. Anshuman, Chairman and MD, CBRE; Mr. Anoop Pabby, President, DHFL; Mr. Amit Bhagat, CEO and Managing Director, ASK Property Investment Advisors Private Limited; Mr. Sachin Sandhir, MD, South Asia, RICS; Mr. Roopak Kothari, Architect and Ms. Manisha Natarajan, Senior Editor, Business and Real Estate, NDTV.
Commenting on the recognition, Jitu Virwani, Chairman and Managing Director, Embassy Group, said,
“We are extremely honoured to have received this award. Manyata Embassy
Business Park has been a very prestigious project for us, and has achieved this
stature because of the immense support that we received both internally and
externally. I would like to thank everybody associated with the project and
seek their continuous support.”
The NDTV Property Awards honoured companies across various categories such as
Best Residential Apartment, Best Residential Villa, Top Commercial Space
Developer and Best Emerging Developer to name a few.
About Embassy
Property Developments Limited
Embassy Group is one of the leading property developers in India with a track
record of over 28 years in real estate development. Embassy has an
extensive land bank across the country and has developed close to 30 million
sft of prime commercial, residential and retail space in India along with
international operations in Malaysia and Serbia. Embassy’s portfolio of real
estate developments spans the commercial, residential, retail and hospitality
segments of the real estate industry. While the commercial real estate business
includes the development of business parks for the IT/ITeS sector, SEZs and
corporate office space, Embassy’s ongoing residential projects include luxury
apartments, villas and integrated townships.
Embassy’s residential projects are also designed to obtain IGBC Green Homes certification as part of the efforts towards creating sustainable developments.
HOMES THAT
SPEAK THE GOOD LIFE: ANNOUNCING THE LAUNCH OF EMBASSY LAKE TERRACES, LUXURY
CONDOMINIUMS AT HEBBAL, BANGALORE
Embassy Lake Terraces redefines
luxury living with its stunning architecture, contemporary international design,
premium specifications and unrivalled location
Bangalore, October 19th, 2012: Embassy Group, a leading Indian property developer announced the launch of its ultra luxury residential condominiums ‘Embassy Lake Terraces’ located at Hebbal, North Bangalore. With world-class architecture, premium amenities and top-of-the-line specifications, Embassy Lake Terraces is expected to be the game changer in the Indian luxury residential segment. Designed by award-winning, Singapore based architect Andy Fisher; the project spans 14.5 acres and offers spectacular views of the Hebbal and Nagavara lakes. This premium residential project is being developed in association with Kirloskar Systems Limited.
Embassy Lake Terraces is designed in a unique contemporary style with a twisted architecture – orienting the condominiums to offer uninterrupted views of the six-acre central green and the lakes beyond. It consists of 467 residential condominiums configured into three lifestyle choices; Signature Towers, Sky Blocks and Garden Blocks. Spread across nine iconic towers, the project is a masterpiece that brings together exquisite three and four bedroom apartments, uber indulgent five bedroom Signature units in single and duplex formats and a facade that embodies the celebration of modern design. The apartments range in size from 3500 to 9900 sq. ft with prices starting at Rs. 3 crores.
Mr. Jitu Virwani, Chairman and Managing Director, Embassy Property Developments Private Limited. said, “Embassy Lake Terraces will be the home for the connoisseur. Each residence here is a haven of villa-like luxury and we are preparing to set new standards in luxury living. We are confident that this will be one of the finest luxury residential developments in India. We are drawing on Embassy’s collective experience and strong track record building Bangalore’s premium residential and award-winning business parks.”
Embassy Lake Terraces boasts a number of unique lifestyle features. The Sky Deck located on the 11th floor provides two acres of leisure space with landscaped terraces, a jogging track, viewing decks, well-equipped business center, gym and yoga rooms.
Other amenities include the club lounge on the 21st floor, walk in aviary, paw park, children’s playground and extensive water bodies. Set within the Central Meadow is the gym, spa, swimming pools, poolside cabanas, laundromat, convenience stores and retail space. There is also a banquet hall for hosting events and private parties. For sports enthusiasts there are cricket nets, tennis and badminton courts, skating rink, putting green and much more. This is also a classic example of modern green living with a number of eco-innovations that sets the standards in eco-friendly living. The building has been designed for IGBC Green Homes Gold Certification.
About Embassy Property Developments Limited
Embassy Group is one of the leading property developers in India with a track
record of over 27 years in real estate development. Embassy has an
extensive land bank across the country and has developed over 29.8 million sft
of prime commercial, residential and retail space in India along with
international operations in Malaysia and Serbia. Embassy’s portfolio of real
estate developments spans the commercial, residential, retail and hospitality
segments of the real estate industry. While the commercial real estate business
includes the development of business parks for the IT/ITeS sector, SEZs and
corporate office space, Embassy’s ongoing residential projects include luxury
apartments, villas and integrated townships.
Embassy’s residential projects are also designed to obtain IGBC Green Homes certification as part of the efforts towards creating sustainable developments.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.