|
Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
GERA DEVELOPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
200, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
19.10.1988 |
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Com. Reg. No.: |
11-049303 |
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Capital
Investment / Paid-up Capital : |
Rs. 18.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102PN1988PTC049303 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEG00582B |
|
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|
|
PAN No.: [Permanent Account No.] |
AAACG6703F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Real Estate Development. |
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|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4210000 |
|
|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company appears to be decent. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered for business dealing 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.
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 |
CARE |
|
Rating |
Proposed long term bank facilities: “A+” |
|
Rating Explanation |
Adequate credit quality and average credit risk. |
|
Date |
April, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-20-26164000)
LOCATIONS
|
Registered/ Head Office : |
200, Gera Plaza, Boat Club Road, Pune – 411001, Maharashtra, India |
|
Tel. No. : |
91-20-26164000/ 26165580/ 81 |
|
Fax No. : |
91-20-26163653 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Goa Office : |
G-18, Gera's Imperium, Patto Plaza, Behind Kadamba Bus Stand, Panjim - 403001,
Goa, India |
|
Tel. No.: |
91-832-2437123 |
DIRECTORS
As on 19.09.2013
|
Name : |
Mr. Rohit Kumar Gera |
|
Designation : |
Managing director |
|
Address : |
7C, Koregaon Road, GPO, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
12.02.1969 |
|
Date of Appointment : |
01.04.1994 |
|
PAN No.: |
AAYPG8747Q |
|
DIN No. : |
00172679 |
|
|
|
|
Name : |
Mr. Kumar Pritamdas Gera |
|
Designation : |
Managing director |
|
Address : |
7C, Koregaon Bundgarden, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
22.04.1946 |
|
Date of Appointment : |
19.10.1988 |
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PAN No. : |
AAYPG8748B |
|
DIN No. : |
00172688 |
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|
|
|
Name : |
Nalini Kumar Gera |
|
Designation : |
Director |
|
Address : |
7C, Koregaon Bundgarden, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
22.04.1946 |
|
Date of Appointment : |
19.10.1988 |
|
PAN No. : |
AGYPG0765A |
|
DIN No. : |
00172696 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kumar Pritamdas Gera |
|
94894 |
|
Nalini Kumar Gera |
|
33847 |
|
Rohit Kumar Gera |
|
41842 |
|
Rohena Kumar Gera |
|
9296 |
|
Sunaina Rohit Gera |
|
2473 |
|
Rohit Gera Gaurdian of Baby Diya Gera |
|
1648 |
|
Total |
|
184000 |
As on 19.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Development. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
· ICICI Bank Limited, A Wing, Shangrila Garden, 3rd Floor Bundgarden Road, Pune - 411001, Maharashtra, India Axis Bank Limited |
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Facilities : |
Note: 1 Car Loan from Axis Bank is secured by exclusive Hypothecation charge over vehicle in the name of director. (The Term Loan is repayable at 9.90% interest. Amount repayable in the FY 2013-14 is Rs.0.637 Million) 2 Car Loan from Axis Bank is secured by exclusive Hypothecation charge over vehicle in the name of director. (The Term Loan is repayable at 10.25% interest. Amount repayable in the FY 2013-14 is Rs.0.253 Million) 3 Car Loan from Axis Bank is secured by exclusive Hypothecation charge over vehicle in the name of director. (The Term Loan is repayable at 10.25% interest. Amount repayable in the FY 2013-14 is Rs.0.391 Million) 4 Car Loan from Housing Development Finance Corporation Limited is secured by xclusive Hypothecation charge over vehicle in the name of employee. (The Term Loan is repayable at 10.45% interest. Amount repayable in the FY 2013-14 is Rs.0.214 Million) 5 Term Loan for Project from Housing Development Finance Corporation Limited is secured by charge over project land and building and receivables of "Astoria", charge over balance project land of "Gera Regent Park" Baner, projects of Gera Developments Private Limited (The Term Loan is repayable at a floating rate of interest. The rate of interest as on 31/03/2013 was 15.25%. Amount repayable in the FY 2013-14 is Rs.71.743 Millions) 6 Term Loan for Project from ICICI Bank is secured by charge over land and building and receivables of "Enchanted Woods" and "Regent Villas", both, projects of Gera Developments Private Limited (The Term Loan is repayable at a floating rate of interest. The rate of Interest as on 31/03/2013 was 14%. Amount repayable in the FY 2013-14 is Nil) 7 Term Loan for Project from Housing Development Finance
Corporation Limited is secured by charge over land and building and
receivables of "Gera's Park View", a project of Gera Realty
Estates. (The Term Loan is repayable at a floating rate of interest. The rate
of interest as on 31/03/2013 was 15.25%. Amount repayable in the FY 2013-14
is Rs.60.000 Millions) |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
HDFC Standard Life Insurance Company Limited, Ramon House, 169, Backbayreclamation, Churchgate, Mumbai - 400020, Maharashtra, India |
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|
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|
Auditors : |
|
|
Name : |
MZSK and Associates Chartered Accountants |
|
Address : |
Business Bay, Level 3, Plot No. 84, Wellesley Road, Near RTO (Sangam Bridge), Pune – 411001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFK3470E |
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|
|
|
Subsidiary Company: |
· Sita Pri Properties Private Limited CIN No.: U70101PN1988PTC046312 Sterling Gera Residence Private Limited U45201KA2007PTC042700 |
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|
|
Associate
Enterprises: |
· CPI- Gera Realty India Private Limited CIN No.: U70102PN2006PTC128916 Gera Realty Estates |
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|
|
|
Enterprises in
which key management persons have significant influence and enterprises
having a common key management person: |
· Gera Resorts Private Limited CIN No.: U55202MH1983PTC030731 Construction Portal Private Limited CIN No.: U45203PN2000PTC014422 Mantic Financial Consultants Private Limited CIN No.: U74140PN2005PTC021764 Gera Properties KG Consultants Gera Holdings |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
184,000 |
Equity Shares |
Rs.100/- each |
Rs. 18.400 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 |
18.400 |
18.400 |
18.400 |
|
(b) Reserves & Surplus |
1034.337 |
791.230 |
360.178 |
|
(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) |
1052.737 |
809.630 |
378.578 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
228.684 |
10.693 |
108.144 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
1.366 |
0.706 |
0.000 |
|
(d) long-term provisions |
42.929 |
31.017 |
16.226 |
|
Total Non-current Liabilities (3) |
272.979 |
42.416 |
124.370 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
68.379 |
122.880 |
31.879 |
|
(c) Other current
liabilities |
581.437 |
1432.362 |
1739.829 |
|
(d) Short-term provisions |
244.902 |
227.666 |
188.647 |
|
Total Current Liabilities (4) |
894.718 |
1782.908 |
1960.355 |
|
|
|
|
|
|
TOTAL |
2220.434 |
2634.954 |
2463.303 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
46.695 |
46.784 |
42.138 |
|
(ii) Intangible Assets |
0.449 |
1.124 |
2.043 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
177.489 |
266.423 |
32.708 |
|
(c) Deferred tax assets (net) |
1.974 |
1.196 |
1.024 |
|
(d) Long-term Loan and Advances |
579.716 |
454.223 |
470.431 |
|
(e) Other Non-current assets |
0.000 |
72.692 |
3.301 |
|
Total Non-Current Assets |
806.323 |
842.442 |
551.645 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1050.736 |
1466.259 |
1567.004 |
|
(c) Trade receivables |
19.987 |
33.757 |
12.516 |
|
(d) Cash and cash
equivalents |
5.387 |
11.348 |
18.913 |
|
(e) Short-term loans and
advances |
260.043 |
235.018 |
307.224 |
|
(f) Other current assets |
77.958 |
46.130 |
6.001 |
|
Total Current Assets |
1414.111 |
1792.512 |
1911.658 |
|
|
|
|
|
|
TOTAL |
2220.434 |
2634.954 |
2463.303 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
1299.600 |
1084.400 |
210.943 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
996.600 |
616.100 |
195.476 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
303.000 |
468.300 |
15.467 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.000 |
22.800 |
0.201 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
289.000 |
445.500 |
15.266 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.500 |
5.400 |
7.059 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
283.500 |
440.100 |
8.207 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
40.400 |
9.100 |
(0.242) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
243.100 |
431.000 |
8.449 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1321.23 |
2342.67 |
44.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
18.71
|
39.75 |
4.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.89
|
18.59 |
0.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.54 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.22
|
0.00 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58
|
1.01 |
0.98 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
133.237 |
146.746 |
242.362 |
|
|
|
|
|
|
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 |
No |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 18/10/2013 |
|
Lodging No:
ITXAL Filing Date: 18/10/2013 Reg. No.: ITXA/2171/2013 Reg. Date: 19/11/2013 |
|
Petitioner: THE COMMISSIONER OF INCOME TAX -
I Respondent:
GERA DEVELOPMENTS Petn. Adv : VIPUL ARUN BAJPAYEE (0) PRIVATE LIMITED District: PUNE |
|
Bench: DIVISION Status: Pre-Admission
Category: TAX APPEALS Last Date: 23/01/2014 Stage:
Last Coram: ACCORDING TO SITTING LIST ACCORDING TO
SITTING LIST |
|
Act: Income Tax Act, 1961
Under Section: 260 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10447505 |
11/09/2013 |
105,000,000.00 |
HDFC STANDARD LIFE INSURANCE COMPANY LIMITED |
RAMON HOUSE, 169, BACKBAYRECLAMATION, CHURCHGATE, MUMBAI - 400020, MAHARASHTRA, INDIA |
B84257989 |
|
2 |
10432150 |
19/12/2013 * |
400,000,000.00 |
ICICI BANK LIMITED |
A WING, SHANGRILA GARDEN, 3RD FLOOR BUNDGARDEN ROAD, PUNE - 411001, MAHARASHTRA, INDIA |
B91993337 |
|
3 |
10394263 |
31/12/2012 * |
350,000,000.00 |
ICICI BANK LIMITED |
1187/22, VENKTESH MEHER, 3RD FLOOR, GHOLE ROAD,SH |
B64965346 |
|
4 |
10372138 |
12/07/2012 |
150,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE, 169, BACKBAYRECLAMATION, CHURCHGATE, MUMBAI - 400020, MAHARASHTRA, INDIA |
B56190952 |
|
5 |
10361220 |
11/05/2012 |
25,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE, 169, BACKBAYRECLAMATION, CHURCHGATE, MUMBAI - 400020, MAHARASHTRA, INDIA |
B41871567 |
|
6 |
10271752 |
21/02/2011 |
195,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
HDFC HOUSE, 1500, SHIVAJINAGAR, UNIVERSITY ROAD, |
B08091860 |
|
7 |
10234149 |
14/07/2010 |
150,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PANAJI, STATE BANK LEARNING CE |
A92121516 |
|
8 |
10197994 |
21/12/2009 |
200,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE, 169, BACKBAYRECLAMATION, CHURCHGATE, MUMBAI - 400020, MAHARASHTRA, INDIA |
A77650448 |
|
9 |
10088564 |
03/01/2008 |
350,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE, 169, BACKBAYRECLAMATION, CHURCHGATE, MUMBAI - 400020, MAHARASHTRA, INDIA |
A32861684 |
|
10 |
10075417 |
04/09/2007 |
400,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE, 169, BACKBAYRECLAMATION, CHURCHGATE, MUMBAI - 400020, MAHARASHTRA, INDIA |
A26702753 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
1.462 |
0.693 |
|
Total |
1.462 |
0.693 |
BACKGROUND
The Company is a company registered under the Companies Act, 1956. It was incorporated on 19th October, 1988. The Company is primarily engaged in the business of promotion, construction and development of integrated townships, residential and commercial complexes, multi-storeyed buildings, flats, houses, apartments, etc.
FINANCIAL RESULTS
During the financial year, the Company recorded total sales and other Operating Income of Rs. 1299.600 Millions, reflecting a growth of 20%. The Company recorded a Profit Before Tax of Rs. 283.500 Millions and Profit After Tax of Rs. 243.100 Millions.
BUSINESS OPERATIONS
UPDATE
The volatility in business environment in real estate sector was a factor that the company had sustained in this financial year. Despite the challenges and uncertainty, the Company has managed to sustain its growth in terms of revenue.
The company has shifted focus to improving margins in a high cost environment and as such designed and conceptualized Isle Royale slated for the launch in FY 2013-14. The Company has made significant movement as per the Industry Standard in placing its Operating Manuals which results significant improvement in process compliance and operational efficiency. The focus was on greater operational efficiency, increase in productivity and profitability.
The company has rewarded with a Credit Rating of A+ (Single Plus), from Credit Analysis and Research Limited (CARE) being the first developer in Pune to get in the category of A
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
v
Intangible Assets
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,
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.61.59 |
|
|
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.