MIRA INFORM REPORT

Report Date :

12.11.2014

IDENTIFICATION DETAILS

Name :	PRIME URBAN DEVELOPMENT INDIA LIMITED (w.e.f.05.07.2010)
Formerly Known As :	PRIME TEXTILES LIMITED
Registered Office :	110, Avanashi Road, Gandhi Nagar Post, Tirupur – 641 603, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.11.1936
Com. Reg. No.:	18-000001
Capital Investment / Paid-up Capital :	Rs.45.487 Millions
CIN No.: [Company Identification No.]	L70200TZ1936PLC000001
IEC No.:	Not divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not divulged
PAN No.: [Permanent Account No.]	Not divulged
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Real Estate Developer and also Exporter of Cotton Yarns.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 450000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of continuous losses incurred by the company. However, trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = (B/Stable)
Rating Explanation	High Risk of Default
Date	11.09.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = (A4)
Rating Explanation	Minimal Degree of Safety it Carry Very High Credit Risk.
Date	11.09.2014

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 31-03-2014.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Guruprasad
Designation :	Account Department
Contact No.:	91-421-2470065
Date :	10.11.2014

LOCATIONS

Registered Office :	110, Avanashi Road, Gandhi Nagar Post, Tirupur – 641 603, Tamil Nadu
Tel. No.:	91-421-2470065/ 4307800
Fax No.:	91-421-2471463
E-Mail :	prime@ptlonline.com uday@ptlonline.com
Website :	www.ptlonline.com
Corporate Office:	307, Regent Chamber, Nariman Point, Mumbai – 400 021, Maharashtra, India

DIRECTORS

As on 31.03.2014

Name :

Mr. Purusottamdas Patodia

Designation :

Chairman and Managing Director

Address :

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

Date of Birth/Age :

01.02.1938

Date of Appointment :

01.04.2013

Election Commission Identity Card No:

MT/04/02/4258951

DIN No.:

00032088

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U67120WB1961PTC025238	MADAN LAL BRIJ LAL PVT LTD	Director	23/09/1961	23/09/1961	04/02/2011	Active	NO
2	U91110MH1921NPL000940	COTTON ASSOCIATION OF INDIA	Director	14/06/1984	14/06/1984	31/12/2008	Active	NO
3	U17118WB1988PLC044153	ANJANA SYNTEX COMPANY LTD	Director	13/04/1988	13/04/1988	-	Active	NO
4	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Managing director	01/04/2013	14/05/1988	-	Active	NO
5	U67120WB1988PLC044207	PAT CREDIT LTD	Director	23/04/1989	23/04/1989	-	Active	NO
6	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	Director	18/09/1997	18/09/1997	18/09/2009	Active	NO
7	U17219TG2006PLC051271	PRIME HOMETEX INDUSTRIES (INDIA) LIMITED	Director	27/09/2006	27/09/2006	25/01/2012	Active	NO
8	U80903DL2006PLC155825	SKILL TRAINING ASSESSMENT MANAGEMENT PARTNERS LIMITED	Director	30/05/2008	18/10/2007	23/10/2008	Active	NO

Name :

Mr. Manoj Kumar Patodia

Designation :

Vice Chairman and Managing Director

Address :

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

Date of Birth/Age :

28.01.1964

Date of Appointment :

01.04.2013

Election Commission Identity Card No:

MT/04/024/258176

DIN No.:

00026455

Other Directorship:

Top of Form

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Managing director	01/04/2013	19/10/1989	-	Active	NO
2	U01712TZ1996PLC006934	MANOJ YARN PROCESSORS LIMITED	Director	08/02/1996	08/02/1996	-	Active	NO
3	U65910TZ1996PLC007068	ATL TEXTILE PROCESSORS LIMITED	Director	22/03/1996	22/03/1996	-	Active	NO
4	U91110MH1954NPL009385	THE COTTON TEXTILES EXPORT PROMOTION COUNCIL	Director	30/09/2005	30/09/2005	-	Active	NO
5	U17118WB1988PLC044153	ANJANA SYNTEX COMPANY LTD	Director	01/02/2006	01/02/2006	-	Active	NO
6	U67120WB1988PLC044207	PAT CREDIT LTD	Director	01/02/2006	01/02/2006	-	Active	NO
7	U17219TG2006PLC051271	PRIME HOMETEX INDUSTRIES (INDIA) LIMITED	Director	27/09/2006	27/09/2006	25/01/2012	Active	NO
8	U40102TZ2008PLC014198	PRIME VISTA POWER GENERATION LIMITED	Director	05/02/2008	05/02/2008	-	Active	NO
9	U45201TZ2008PTC014208	PRIME TEAM3 PROJECT DEVELOPMENT INTERNATIONAL PRIVATE LIMITED	Director	07/02/2008	07/02/2008	-	Active	NO
10	U70101TZ2008PTC014230	PATODIA DEVELOPERS PRIVATE LIMITED	Director	15/02/2008	15/02/2008	-	Active	NO
11	U70101TZ2008PTC014204	KNITCITY REALTIES COMPANY PRIVATE LIMITED	Director appointed in casual vacancy	30/06/2011	30/06/2011	-	Converted to LLP and dissolved	NO

Bottom of Form

Name :

Mr. Anuj Patodia

Designation :

Managing director

Address :

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

Date of Birth/Age :

24.02.1973

Date of Appointment :

30.06.2009

Election Commission Identity Card No:

MT/04/024/258957

DIN No.:

00026458

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U01119MH1993PLC074630	PURAV TRADING LIMITED	Director	21/10/1993	21/10/1993	-	Active	NO
2	U70101TZ1989PLC002347	AADARSH JANN AAWAASH LIMITED	Director	01/04/1995	01/04/1995	-	Active	NO
3	U17111TZ1995PLC006750	PEE DEE YARN PROCESSORS LIMITED	Director	06/12/1995	06/12/1995	-	Active	NO
4	U65910TZ1996PLC007068	ATL TEXTILE PROCESSORS LIMITED	Director	22/03/1996	22/03/1996	-	Active	NO
5	U18101TZ1997PTC008024	ATL - SELINA INNERWEAR PRIVATE LIMITED	Director	09/07/1997	09/07/1997	-	Strike off	NO
6	U17118WB1988PLC044153	ANJANA SYNTEX COMPANY LTD	Director	01/12/1997	01/12/1997	-	Active	NO
7	U67120WB1988PLC044207	PAT CREDIT LTD	Director	01/12/1997	01/12/1997	-	Active	NO
8	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Managing director	30/06/2009	21/06/2002	-	Active	NO
9	U17219TG2006PLC051271	PRIME HOMETEX INDUSTRIES (INDIA) LIMITED	Director	27/09/2006	27/09/2006	25/01/2012	Active	NO
10	U40102TZ2008PLC014198	PRIME VISTA POWER GENERATION LIMITED	Director	05/02/2008	05/02/2008	-	Active	NO
11	U45201TZ2008PTC014208	PRIME TEAM3 PROJECT DEVELOPMENT INTERNATIONAL PRIVATE LIMITED	Director	07/02/2008	07/02/2008	-	Active	NO
12	U70101TZ2008PTC014204	KNITCITY REALTIES COMPANY PRIVATE LIMITED	Director	07/02/2008	07/02/2008	-	Converted to LLP and dissolved	NO
13	L25200MH1980PLC022812	SAFARI INDUSTRIES (INDIA) LIMITED	Director	28/07/2014	18/04/2012	-	Active	NO

Name :

Mr. N K Bafna

Designation :

Independent Director

Address :

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

Date of Birth/Age :

03.07.1939

Date of Appointment :

14.08.2014

Election Commission Identity Card No:

MT/04/019/039181

DIN No.:

00019372

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Director	14/08/2014	26/08/1994	-	Active	NO
2	L18101KL1991PLC006194	PATSPIN INDIA LTD	Director	19/09/2014	20/06/2000	-	Active	NO
3	U74140MH2004PLC148859	NATIONAL COLLATERAL MANAGEMENT SERVICES LIMITED	Director	12/03/2005	12/03/2005	-	Active	NO
4	L18101KL2005PLC018062	GTN TEXTILES LIMITED	Director	25/07/2008	15/05/2008	31/07/2014	Active	NO

Name :

Mr. Banwari Lal Singhal

Designation :

Independent Director

Address :

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

Date of Birth/Age :

15.04.1947

Date of Appointment :

14.08.2014

DIN No.:

00006433

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Director	14/08/2014	15/05/1988	-	Active	NO
2	U67190WB1990PTC048536	M B CREDIT PVT LTD	Director	08/03/1990	08/03/1990	-	Amalgamated	NO
3	U67120WB1989PTC046638	PRITI CREDIT PVT.LTD.	Director	15/07/1992	15/07/1992	-	Active	NO
4	U67120KL1981PLC013244	GTN ENTERPRISES LIMITED	Director	19/09/2014	21/06/1994	-	Active	NO
5	U67120WB1995PTC072283	BLS SECURITIES PVT LTD	Director	22/06/1995	22/06/1995	-	Active	NO
6	L18101KL1991PLC006194	PATSPIN INDIA LTD	Director	20/06/2000	20/06/2000	31/07/2014	Active	NO
7	U65910TZ1996PLC007068	ATL TEXTILE PROCESSORS LIMITED	Director	01/01/2005	01/01/2005	-	Active	NO
8	L18101KL2005PLC018062	GTN TEXTILES LIMITED	Director	19/09/2014	08/04/2005	-	Active	NO
9	L18101AP1962PLC054323	GTN INDUSTRIES LIMITED	Director	22/11/2006	22/11/2006	-	Active	NO

Name :

Mr. Venkatchalam Arakoni Ramaswamy

Designation :

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

Address :

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

Date of Birth/Age :

12.08.1966

Date of Appointment :

14.08.2014

DIN No.:

00008509

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L99999MH1995PLC094641	EDELWEISS FINANCIAL SERVICES LIMITED	Whole-time director	01/04/2014	20/02/1996	-	Active	NO
2	U72900MH1999PLC121825	ICLEO COM LIMITED	Director	24/12/1999	24/12/1999	-	Strike off	NO
3	U72200MH2000PLC124096	EDELWEISS INSURANCE BROKERS LIMITED	Director	08/02/2000	08/02/2000	07/02/2011	Active	NO
4	U67110AP1993PLC052266	EDELWEISS SECURITIES LIMITED	Director	26/12/2000	26/12/2000	22/03/2010	Active	NO
5	U65910MH2006PTC162818	IVY FINANCIAL SERVICES PRIVATE LIMITED	Director	23/06/2006	23/06/2006	08/04/2014	Active	NO
6	U72200MH1992PTC066379	EXACTUS CORPORATION PRIVATE LIMITED	Director	28/09/2007	28/11/2006	07/06/2011	Active	NO
7	U65991MH2007PLC173409	EDELWEISS ASSET MANAGEMENT LIMITED	Director	23/08/2007	23/08/2007	30/10/2007	Active	NO
8	U67100MH2007PLC173779	EDELWEISS TRUSTEESHIP COMPANY LIMITED	Director	03/09/2007	03/09/2007	30/10/2007	Active	NO
9	U67100MH2007PLC174759	EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED	Director	05/10/2007	05/10/2007	13/08/2008	Active	NO
10	U67190MH2008PLC182205	EDELWEISS ALTERNATIVE ASSET ADVISORS LIMITED	Director	14/05/2008	14/05/2008	-	Active	NO
11	U74140MH2008PLC182920	EDELWEISS INVESTMENT ADVISER LIMITED	Director	30/05/2008	30/05/2008	07/11/2013	Active	NO
12	U66010MH2009PLC197336	EDELWEISS TOKIO LIFE INSURANCE COMPANY LIMITED	Director	29/07/2010	25/11/2009	-	Active	NO
13	U67110MH2010PLC202149	STYRAX COMMODITIES LIMITED	Director	02/09/2011	17/04/2010	09/01/2012	Active	NO
14	L70200TZ1936PLC000001	PRIME URBAN DEVELOPMENT INDIA LIMITED	Director	14/08/2014	26/07/2011	-	Active	NO
15	U45201AP2006PLC078157	EDELWEISS COMMODITIES SERVICES LIMITED	Whole-time director	24/07/2013	01/07/2013	29/10/2013	Active	NO
16	U67120AP1994PLC052372	EDELWEISS FINANCE & INVESTMENTS LIMITED	Director	09/09/2014	01/11/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Guruprasad
Designation :	Account Department
Name :	Ramani and Shankar
Designation :	Advocate

SHAREHOLDING PATTERN

As on 31.06.2014

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	2993006	13.16
Bodies Corporate	12019350	52.85
Sub Total	15012356	66.01
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	15012356	66.01
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	3750	0.02
Sub Total	3750	0.02
(2) Non-Institutions
Bodies Corporate	1145606	5.04
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 Million	3528461	15.51
Individual shareholders holding nominal share capital in excess of Rs.0.100 Million	2151887	9.46
Any Others (Specify)	901540	3.96
Directors & their Relatives & Friends	50413	0.22
Non Resident Indians	64652	0.28
Clearing Members	16772	0.07
Hindu Undivided Families	768703	3.38
Trusts	1000	0.00
Sub Total	7727494	33.98
Total Public shareholding (B)	7731244	33.99
Total (A)+(B)	22743600	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	22743600	0.00

BUSINESS DETAILS

Line of Business :	Real Estate Developer and also Exporter of Cotton Yarns.
Products :	Not divulged
Brand Names :	Not divulged
Agencies Held :	Not divulged
Exports :
Products :	Finished Goods
Countries :	Pakistan China Bangladesh
Imports :	Not divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Not divulged

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

20 (Approximately)

Bankers :

· Central Bank of India, No.2, Court Street, Tirupur – 641 601, Tamil Nadu, India

· Industrial Development Bank of India, Stock Exchange Building, 683-686, Trichy Road, Coimbatore – 641 005, Tamil Nadu, India

· Export-Import Bank of India, Centre one Building, Floor-21, World, Trade Centre Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India

· Canara Bank, Industrial Finance Branch, T. V. Samy Road, R.S. Puram, Coimbatore – 641 002, Tamil Nadu, India

· Bank of India, SME Branch, Kumar Nagar, Avinashi Road, Tirpur – 641 603, Tamilnadu, India

Bank Name :	State Bank of Hyderabad, Overseas Bank, Colaba, Mumbai, Maharashtra, India
Contact No. :	91-22-22851322/22022027
Report :	Ringing

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Differed Payment Liabilities
Hire purchased loan	4.261	4.610
SHORT TERM BORROWING
Loan repayable on demand
From bank	40.488	12.421
Total	44.749	17.031

Banking Relations :	---
Auditors :
Name :	M.S. Jagannathan and Visv Anathan Chartered Accountants
Address :	Coimbatore, Tamilnadu, India
Wholly owned subsidiaries:	· ATL Textile Processors Limited · Manoj Yarn Processors Limited · Pee Dee Yarn Processors Limited · Prime Hitech Admin Services LLP
Associates:	· Aadarsh Jann Aawaash Limited · Prime Developers · Prime Mall Developers · Prime New Line AOP
Enterprises Having Common Key Management Personnel:	· Pat Credit Limited · Anjana Syntex Company Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
62500000	Equity Shares	Rs.2/- each	Rs.125.000 Millions
750000	Preferences Shares	Rs.100/- each	Rs.75.000 Millions
	TOTAL		Rs.200.000 Millions

Issued Capital :

No. of Shares	Type	Value	Amount
22744300	Equity Shares	Rs.2/- each	Rs.45.489 Millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
22743600	Equity Shares	Rs.2/- each	Rs.45.487 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	45.487	45.487	45.487
(b) Reserves & Surplus	1540.105	1547.090	1567.197
(c) Money received against share warrants	4.875	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1590.467	1592.577	1612.684
(3) Non-Current Liabilities
(a) long-term borrowings	55.957	56.400	54.570
(b) Deferred tax liabilities (Net)	0.000	0.000	127.011
(c) Other long term liabilities	127.011	127.011	0.000
(d) long-term provisions	4.564	4.044	3.96
Total Non-current Liabilities (3)	187.532	187.455	185.541
(4) Current Liabilities
(a) Short term borrowings	213.825	146.270	91.418
(b) Trade payables	22.103	29.118	13.228
(c) Other current liabilities	8.478	26.949	11.425
(d) Short-term provisions	0.365	0.553	0.000
Total Current Liabilities (4)	244.771	202.890	116.071
TOTAL	2022.770	1982.922	1914.296
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1576.546	1577.954	1577.107
(ii) Intangible Assets	0.000	0.000	0.000
(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	72.983	72.983	73.003
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	18.745	19.953	10.933
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1668.274	1670.890	1661.043
(2) Current assets
(a) Current investments	6.357	0.000	2.175
(b) Inventories	118.596	120.328	127.498
(c) Trade receivables	5.570	46.600	1.331
(d) Cash and cash equivalents	24.794	3.336	13.955
(e) Short-term loans and advances	133.299	93.684	61.25
(f) Other current assets	65.880	48.084	47.044
Total Current Assets	354.496	312.032	253.253
TOTAL	2022.770	1982.922	1914.296

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	654.267	243.924	266.598
	Other Income	2.329	1.719	4.511
	TOTAL (A)	656.596	245.643	271.109
Less	EXPENSES
	Cost of Materials Consumed	13.101	3.825	94.947
	Purchases of Stock-in-Trade	529.465	188.737	86.16
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(11.369)	3.345	5.529
	Employees benefits expense	21.805	19.264	18.478
	Exceptional Expenses	5.938	0.000	44.5
	Other expenses	67.902	29.250	31.531
	TOTAL (B)	626.842	244.421	281.145
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	29.754	1.222	(10.036)
Less	FINANCIAL EXPENSES (D)	30.902	16.664	18.677
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(1.148)	(15.442)	(28.713)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	1.938	2.056	1.996
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(3.086)	(17.498)	(30.709)
Less	TAX (I)	3.899	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	(6.985)	(17.498)	(30.709)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	47.474	64.972	1.996
Less	APPROPRIATIONS
	Transfer to General Reserve	0.000	0.000	(44.500)
	Transfer from Business Reconstruction Reserves	0.000	0.000	44.500
	Total (M)	0.000	0.000	0.000
	Balance Carried to the B/S (J+K+L-M)	40.489	47.474	64.972
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	510.820	62.982	85.383
	TOTAL EARNINGS	510.820	62.982	85.383
	Earnings / (Loss) Per Share (Rs.)
	- Basic	(0.05)	(0.77)	(0.61)
	- Diluted	(0.31)	(0.77)	(1.35)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(1.07)	(7.17)	(11.52)
Operating Profit Margin (PBDIT / Sales)	(%)	4.55	0.50	(3.76)
Return on Total Assets (PBT/Total Assets}	(%)	(0.16)	(0.92)	(1.67)
Return on Investment (ROI) (PBT/Networth)		0.00	(0.01)	(0.02)
Debt Equity Ratio (Total Debt /Networth)		0.17	0.13	0.09
Current Ratio (Current Asset/Current Liability)		1.45	1.54	2.18

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	45.487	45.487	45.487
Reserves & Surplus	1567.197	1547.090	1540.105
Money received against share warrants	0.000	0.000	4.875
Net worth	1612.684	1592.577	1590.467
long-term borrowings	54.570	56.400	55.957
Short term borrowings	91.418	146.270	213.825
Total borrowings	145.988	202.670	269.782
Debt/Equity ratio	0.091	0.127	0.170

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	266.598	243.924	654.267
		(8.505)	168.226

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	266.598	243.924	654.267
Profit	(30.709)	(17.498)	(6.985)
	(11.52%)	(7.17%)	(1.07%)

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	Yes
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	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	Yes
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	No
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Deposits from Public	0.000	0.050
Loans and advances from Related Parties	51.696	51.740
SHORT TERM BORROWING
From Public	12.697	8.617
From Corporate	160.640	125.232
Total	225.033	185.639

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10315611	20/10/2011	100,000,000.00	CORPORATION BANK	NARIMAN POINT BRANCH, Earnest House, 1st Floor, Nariman Point, MUMBAI, Maharashtra - 400021, INDIA	B24519027
2	90008742	03/02/2014 *	300,000,000.00	CENTRAL BANK OF INDIA	NO.2, COURT STREET, TIRUPUR, Tamil Nadu - 641601, INDIA	B96721840

* Date of charge modification

STATEMENT OF UNAUDITED RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30^TH SEPTEMBER 2014

Sr. No	Particulars		Standalone
			Quarter Ended
			30.09.2014	30.06.2014
			Unaudited	Unaudited
1	Income From Operations
	a. Net Sales/ Income from Operations (Net of Excise Duty)		96.886	97.899
	b. Other Operating Income		-	-
	Total Income from Operations (Net)		96.886	97.899
2	Expenditure
	a. Cost of material Consumed		-	-
	b. Purchase of Stock-in trade		99.774	72.566
	c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade		(18.242)	(11.369)
	d. Employees Benefit Expenses		5.857	5.286
	e. Depreciation and Amortisation Expenses		00.435	0.527
	f. Other expenses		13.356	13.182
	Total Expenses		101.179	102.929
3	Profit from Operations before Other Income, Interest and Exceptional Items		(4.293)	(5.030)
4	Other Income		1.454	0.335
5	Profit from ordinary activities before finance cost & exceptional items		(2.840)	(4.695)
6	Finance Costs		(8.583)	(8.012)
7	Profit from ordinary activities after finance costs & exceptional items		(11.423)	(12.707)
8	Exceptional items		-	-
9	Profit from ordinary activities before tax
10	Tax Expense
	- Income Tax		-	-
	- Deferred Tax		-	-
11	Net Profit from ordinary activity after tax		(11.423)	(12.707)
12	Extraordinary Items		-	-
13	Net Profit After Tax		(11.423)	(12.707)
14	Paid-up equity share capital (face value of Rs.10 per share)		45.487	45.487
15	Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year		-	-
16	Earning Per Share (of Rs.10 each) (not annualized)
	Basic EPS		(0.50)	(0.56)
	Diluted EPS
A		PARTICULARS OF SHAREHOLDING
17		Public Shareholding
		- No. of shares	7731244	7731244
		- Percentage of shareholding	33.99%	33.99%
18		Promoter & Promoter Group Shareholding
		a) Pledged/Encumbered
		- No. of shares	Nil	Nil
		- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group)	Nil	Nil
		- Percentage of shareholding (as a % of the total share capital of the company)	Nil	Nil
		b) Non-encumbered
		- No. of shares	15012356	15012356
		- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group)	100%	100%
		- Percentage of shareholding (as a % of the total share capital of the company)	66.01%	66.01%

B	INVESTOR COMPLAINTS	Quarter Ended 30.09.2014
	Pending at the beginning of the year	Nil
	Received during the quarter	Nil
	Disposed of during the quarter	Nil
	Remaining unresolved at the end of the quarter	Nil

UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED

(Rs. In Millions)

Particulars	Quarter Ended ( Unaudited)
	30.09.2014	30.06.2014
a. Information about Primary Business Segments
1. Segment Revenue
a. Segment - Realty	7.053	5.805
b. Segment - Textiles	89.833	92.094
Total	96.886	97.899
2. Segment Result
Profit/(Loss) before tax, and extraordinary items from each segment
a. Segment - Realty	(4.648)	(6.631)
b. Segment - Textiles	1.859	2.016
Total	(2.789)	(4.615)
Less :
Interest Expenditure	(8.584)	(8.012)
Exceptional Items	-	-
Unallocable Expenditure	(0.050)	(0.080)
Profit/(Loss) before tax and extraordinary items	(11.423)	(12.707)
Less : Extraordinary Items	-	-
Profit/(Loss) before tax	(11.423)	(12.707)
3. Capital Employed (Segment Assets-Segment Liabilities)
a. Segment - Realty	1714.064	1703.017
b. Segment - textiles	147.787	126.265
Total	1861.851	1829.282

Note :

1. The Board of Directors have considered, approved and taken on record results at their board meeting held on 25^th October, 2014 after having been reviewed by the Audit Committee. The result have been reviewed by statuatory Auditors.
2. Inrespect of Relaty Division, the first phase of the construction in the company’s prestigious individual residential Cluster Project – THE ONYX’ is nearing completion and will be handeover for occupation shortly.
3. The company has implemented Whistle Blower Policy with effect from 1.10.2014
4. Figure are regrouped to conform to current presentation.

REVIEW OF OPERATIONS:

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

OVERVIEW:

Prime Urban Development India Limited is a Government Recognized Star Export House. It has two business segments- Realty Segment and Textile Segment.

BUSINESS ANALYSIS:

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

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

2. The construction of luxury villas which is a signature project in Tirupur is undnrprogress. The project is designed with international standard for the luxury life style of living. There is an evinced good response from the prospective buyers.

FIXED ASSETS:

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

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.55
UK Pound	1	Rs.97.53
Euro	1	Rs.76.48

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	DIV
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	2
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.