MIRA INFORM REPORT

Report Date :

18.10.2014

IDENTIFICATION DETAILS

Name :	MANTRI DEVELOPERS PRIVATE LIMITED (w.e.f. 01.01.2001)
Formerly Known As :	GLORY ESTATE PRIVATE LIMITED
Registered Office :	# 41, Vittal Mallya Road, Bangalore – 560001, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	06.12.1990
Com. Reg. No.:	08-027924
Capital Investment / Paid-up Capital :	Rs.559.635 Millions
CIN No.: [Company Identification No.]	U70102KA1990PTC027924
TAN No.: [Tax Deduction & Collection Account No.]	BLRM06022C
PAN No.: [Permanent Account No.]	AAACG4009N
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is a real estate developers engaged in the business of development, sale, management and operation of all or any part of townships, housing projects, commercial premises and other related activities. The company is also engaged in the business of power generation.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 66000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating reflects sound financial risk profile marked by decent reserves position and good profitability of the company. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – 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	ICRA
Rating	Fund Based Facilities=BBB-
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	May, 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 DENIED

Management Non Co-operative (91-80-41300000)

LOCATIONS

Registered Office/ Head Office :	# 41, Vittal Mallya Road, Bangalore – 560001, Karnataka, India
Tel. No.:	91-80-41300000
Fax No.:	91-80-41325000
E-Mail :	prakash.hegde@mantri.in homes@mantri.in
Website :	http://www.mantri.in
Branches :	Located at: · Hyderabad · Chennai · Pune

DIRECTORS

AS ON 05.09.2013

Name :

Mr. Sushil Pandurang Mantri

Designation :

Director

Address :

Mantri House, 41 Vittal Malya Road, Bangalore – 560001, Karnataka, India

Date of Birth/Age :

07.02.1963

Date of Appointment :

27.02.2006

DIN No.:

00188967

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	U70102KA1993PTC015069	SHIVASHAKTHI ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	23/10/1995	23/10/1995	-	Active	NO
2	U51399KA2000PTC026365	PLAZA AGENCIES PRIVATE LIMITED	Director	06/07/2000	06/07/2000	-	Active	NO
3	U45201KA2000PTC026181	HAMARA SHELTERS PRIVATE LIMITED	Director	06/07/2000	06/07/2000	03/12/2007	Active	NO
4	U74140KA2001PTC028742	Propcare Real Estate Management Private Limited	Director	15/03/2001	15/03/2001	03/12/2007	Active	NO
5	U04520KA1988PTC009606	CLASSIC REALTY PRIVATE LIMITED	Director	18/09/2001	18/09/2001	20/08/2008	Active	NO
6	U51311KA2002PTC030545	RAFFLES ENTERPRISES PRIVATE LIMITED	Director	24/05/2002	24/05/2002	15/04/2010	Active	NO
7	U74140KA2002PTC030161	INDUS SCHOLASTIC AND MANAGEMENT SERVICES PRIVATE LIMITED	Director	17/01/2003	17/01/2003	-	Active	NO
8	U74210KA2004PTC033992	JASMINE ENTERPRISES PRIVATE LIMITED	Director	28/05/2004	28/05/2004	05/12/2007	Active	NO
9	U74210KA2004PTC033991	MANTRI HOMES PRIVATE LIMITED	Director	28/05/2004	28/05/2004	03/12/2007	Active	NO
10	U45201KA2003PTC033023	Mantri Techzone Private Limited	Managing director	05/12/2007	29/09/2004	-	Active	NO
11	U64202KA2004PTC035071	PROJENCO SOFTWARE SYSTEMS PRIVATE LIMITED	Director	23/11/2004	23/11/2004	22/12/2008	Active	NO
12	U80302KA2005PTC037233	Indus International School (Pune) Private limited	Director	12/09/2008	15/09/2005	-	Active	NO
13	U07010KA2004PTC035167	PRATIBHA REALTORS PRIVATE LIMITED	Director	29/09/2005	29/09/2005	04/12/2007	Active	NO
14	U72200TG2004PTC044097	LANCO HILLS TECHNOLOGY PARK PRIVATE LIMITED	Director	20/12/2005	20/12/2005	19/05/2008	Active	NO
15	U70102KA1990PTC027924	MANTRI DEVELOPERS PRIVATE LIMITED	Managing director	27/02/2006	27/02/2006	-	Active	NO
16	U45201KA2005PTC037698	Mantri Cornerstone Holding Private Limited	Director	30/04/2006	30/04/2006	-	Active	NO
17	U45201KA2006PTC039175	BRAHMAGIRI REALTORS PRIVATE LIMITED	Director	20/10/2006	20/10/2006	15/04/2010	Active	NO
18	U07010KA2004PTC035169	VISMAY REALTORS PRIVATE LIMITED	Director	25/01/2007	25/01/2007	01/06/2007	Active	NO
19	U80222KA2007PTC043242	NORTH EDUCATIONAL ACADEMY (INDIA) PRIVATE LIMITED	Director	26/06/2007	26/06/2007	15/04/2010	Active	NO
20	U45201KA2007PTC043434	MANTRI TECHNOLOGY PARKS PRIVATE LIMITED	Director	15/04/2008	23/07/2007	-	Active	NO
21	U45201KA2007PTC043436	MANTRI TECHNOLOGY CONSTELLATIONS PRIVATE LIMITED	Director	10/06/2011	23/07/2007	-	Active	NO
22	U45202KA2007PTC043433	MANTRI GEO STRUCTURES PRIVATE LIMITED	Director	23/07/2007	23/07/2007	20/09/2007	Active	NO
23	U45201KA2007PTC043435	MANTRI SIERRA STRUCTURE PRIVATE LIMITED	Director	23/07/2007	23/07/2007	20/09/2007	Active	NO
24	U45201KA2007PTC043458	MANTRI INFRASTRUCTURE PRIVATE LIMITED	Director	24/07/2007	24/07/2007	20/09/2007	Active	NO
25	U74140KA2007PTC044006	Mantri Dwellings Private Limited	Director	08/05/2008	10/10/2007	14/04/2009	Active	NO
26	U55101KA2008PTC047021	SURAJ Inn Private Limited	Director	02/07/2008	02/07/2008	-	Active	NO
27	U70102KA2009PTC051227	Avant-Garde Shelters Private Limited	Director	16/10/2009	16/10/2009	15/04/2010	Active	NO
28	U70109KA2009PTC051228	PropCare Mall Management (India) Private Limited	Director	16/10/2009	16/10/2009	19/07/2010	Active	NO
29	U70102KA2010PTC054176	3D MEGACITY PRIVATE LIMITED	Director	23/06/2010	23/06/2010	18/02/2013	Active	NO
30	U70102KA2010PTC055639	Mantri Mansion Private Limited	Director	26/10/2010	26/10/2010	-	Active	NO
31	U70102KA2010PTC055722	Mantri Habitats Private Limited	Director	02/11/2010	02/11/2010	18/02/2013	Active	NO
32	U70102KA2010PTC055789	Mantri Abodes Private Limited	Director	09/11/2010	09/11/2010	18/02/2013	Active	NO
33	U70100KA2010PTC056156	Mantri Property Developers Private Limited	Director	07/12/2010	07/12/2010	18/02/2013	Active	NO
34	U01119TG2006PTC051831	HYDERABAD EDUCATIONAL INSTITUTIONS PRIVATE LIMITED	Director	26/09/2012	27/12/2010	12/12/2012	Active	NO
35	U70102KA2010PTC056387	Mantri Resi Structures Private Limited	Director	29/12/2010	29/12/2010	18/02/2013	Active	NO
36	U70100KA2011PTC056480	Lakeview Development Corporation Private Limited	Director	04/01/2011	04/01/2011	18/02/2013	Active	NO
37	U45203KA2011PTC060228	Mantri Gardenview Homes Private Limited	Director	02/09/2011	02/09/2011	-	Active	NO
38	U70100KA2011PTC060335	Mantri Premier Homes Private Limited	Director	09/09/2011	09/09/2011	-	Active	NO
39	U07010KA2004PTC035166	TARUN REALTORS PRIVATE LIMITED	Director	24/06/2013	01/08/2012	-	Active	NO
40	U45201KA2007PTC044673	SMARTHOMES DEVELOPERS (INDIA) PRIVATE LIMITED	Director	16/08/2013	29/03/2013	-	Active	NO
41	U91110DL1999NPL247248	CONFEDERATION OF REAL ESTATE DEVELOPERS' ASSOCIATIONS OF INDIA	Director	01/04/2013	01/04/2013	-	Active	NO
42	AAA-5108	KIRTHANA DEVELOPERS LLP	Designated Partner	08/06/2011	08/06/2011	-	Active	NO

Name :

Mr. Snehal Sushil Mantri

Designation :

Director

Address :

Mantri House, 41 Vittal Malya Road, Bangalore – 560001, Karnataka, India

Date of Birth/Age :

12.11.1963

Date of Appointment :

01.01.2001

DIN No.:

00166900

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	U51399KA2000PTC026365	PLAZA AGENCIES PRIVATE LIMITED	Director	06/07/2000	06/07/2000	-	Active	NO
2	U45201KA2000PTC026181	HAMARA SHELTERS PRIVATE LIMITED	Director	06/07/2000	06/07/2000	03/12/2007	Active	NO
3	U70102KA1993PTC015069	SHIVASHAKTHI ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	21/08/2000	21/08/2000	05/12/2007	Active	NO
4	U70102KA1990PTC027924	MANTRI DEVELOPERS PRIVATE LIMITED	Whole-time director	01/01/2001	01/01/2001	-	Active	NO
5	U74140KA2001PTC028742	Propcare Real Estate Management Private Limited	Director	15/03/2001	15/03/2001	03/12/2007	Active	NO
6	U51311KA2002PTC030545	RAFFLES ENTERPRISES PRIVATE LIMITED	Director	24/05/2002	24/05/2002	04/12/2007	Active	NO
7	U74210KA2004PTC033992	JASMINE ENTERPRISES PRIVATE LIMITED	Director	28/05/2004	28/05/2004	05/12/2007	Active	NO
8	U74210KA2004PTC033991	MANTRI HOMES PRIVATE LIMITED	Director	28/05/2004	28/05/2004	03/12/2007	Active	NO
9	U45201KA2003PTC033023	Mantri Techzone Private Limited	Director	05/12/2007	29/09/2004	-	Active	NO
10	U80302KA2005PTC037233	Indus International School (Pune) Private limited	Director	25/09/2006	15/09/2005	-	Active	NO
11	U07010KA2004PTC035167	PRATIBHA REALTORS PRIVATE LIMITED	Director	29/09/2005	29/09/2005	04/12/2007	Active	NO
12	U45201KA2006PTC039175	BRAHMAGIRI REALTORS PRIVATE LIMITED	Director	20/10/2006	20/10/2006	04/12/2007	Active	NO
13	U80222KA2007PTC043242	NORTH EDUCATIONAL ACADEMY (INDIA) PRIVATE LIMITED	Director	26/06/2007	26/06/2007	15/04/2010	Active	NO
14	U45202KA2007PTC043433	MANTRI GEO STRUCTURES PRIVATE LIMITED	Director	23/07/2007	23/07/2007	20/09/2007	Active	NO
15	U45201KA2007PTC043434	MANTRI TECHNOLOGY PARKS PRIVATE LIMITED	Director	23/07/2007	23/07/2007	20/09/2007	Active	NO
16	U45201KA2007PTC043435	MANTRI SIERRA STRUCTURE PRIVATE LIMITED	Director	23/07/2007	23/07/2007	20/09/2007	Active	NO
17	U45201KA2007PTC043436	MANTRI TECHNOLOGY CONSTELLATIONS PRIVATE LIMITED	Director	23/07/2007	23/07/2007	20/09/2007	Active	NO
18	U45201KA2007PTC043458	MANTRI INFRASTRUCTURE PRIVATE LIMITED	Director	24/07/2007	24/07/2007	20/09/2007	Active	NO
19	U55101KA2008PTC047021	SURAJ Inn Private Limited	Director	02/07/2008	02/07/2008	14/04/2009	Active	NO
20	U70102KA2010PTC054176	3D MEGACITY PRIVATE LIMITED	Director	23/06/2010	23/06/2010	18/02/2013	Active	NO
21	U70102KA2010PTC055639	Mantri Mansion Private Limited	Director	26/10/2010	26/10/2010	18/02/2013	Active	NO
22	U70102KA2010PTC055722	Mantri Habitats Private Limited	Director	02/11/2010	02/11/2010	18/02/2013	Active	NO
23	U70102KA2010PTC055789	Mantri Abodes Private Limited	Director	09/11/2010	09/11/2010	18/02/2013	Active	NO
24	U70100KA2010PTC056156	Mantri Property Developers Private Limited	Director	07/12/2010	07/12/2010	18/02/2013	Active	NO
25	U70102KA2010PTC056387	Mantri Resi Structures Private Limited	Director	29/12/2010	29/12/2010	18/02/2013	Active	NO
26	U45203KA2011PTC060228	Mantri Gardenview Homes Private Limited	Director	02/09/2011	02/09/2011	08/08/2012	Active	NO
27	U70100KA2011PTC060335	Mantri Premier Homes Private Limited	Director	09/09/2011	09/09/2011	25/10/2012	Active	NO
28	U01119TG2006PTC051831	HYDERABAD EDUCATIONAL INSTITUTIONS PRIVATE LIMITED	Director	26/09/2012	30/03/2012	12/12/2012	Active	NO
29	AAA-9225	SPACETHETICS INDIA LLP	Designated Partner	15/05/2012	15/05/2012	-	Active	NO

Name :

Mr. Rajesh Omkarnath Malpani

Designation :

Director

Address :

Bansuri Janakinagar Sangamner, District Ahmednagar MS, Sangamner – 422605, Maharashtra, India

Date of Birth/Age :

23.02.1961

Date of Appointment :

19.06.2008

DIN No.:

01596468

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	U16003MH1985PTC036341	OM TOBACCO PRODUCTS PVT LTD	Director	29/04/1987	29/04/1987	-	Active	NO
2	U72200PN1998PTC012661	MALPANI ACADEMY PRIVATE LIMITED	Director	12/07/1998	12/07/1998	10/12/2013	Active	NO
3	U15495PN1998PTC013082	UNIVERSAL SPICES PRIVATE LIMITED	Director	30/03/2001	30/03/2001	20/11/2012	Active	NO
4	U29195PN1991PLC061503	SAFEPACK INDUSTRIES LIMITED	Director	20/11/2001	20/11/2001	-	Active	NO
5	U45201PN2005PTC020484	HARSHVARDHAN PROPERTIES PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Active	NO
6	U45201PN2005PTC020481	KAUSTUBH ESTATE AND DEVELOPERS PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Active	NO
7	U45209PN2005PTC021539	LANDLORD PROPERTIES PRIVATE LIMITED	Director	14/11/2005	14/11/2005	-	Active	NO
8	U52110PN2007PTC129928	SARGAM RETAILS PRIVATE LIMITED	Director	05/04/2007	05/04/2007	-	Active	NO
9	U55101PN2007PTC129988	GREEN PARK HOLIDAYS PRIVATE LIMITED	Director	18/04/2007	18/04/2007	-	Active	NO
10	U70102KA1990PTC027924	MANTRI DEVELOPERS PRIVATE LIMITED	Director	23/06/2008	19/06/2008	-	Active	NO
11	U55101KA2008PTC047021	SURAJ Inn Private Limited	Director	02/07/2008	02/07/2008	-	Active	NO
12	U80302KA2005PTC037233	Indus International School (Pune) Private limited	Director	15/05/2009	30/03/2009	15/03/2010	Active	NO
13	U45200PN2006PTC022230	RAMSUKH DEVELOPERS PRIVATE LIMITED	Director	25/03/2010	25/03/2010	05/08/2010	Active	NO
14	U93000PN2011PTC140096	MALPANI HOME CARE PRIVATE LIMITED	Director	07/07/2011	07/07/2011	-	Active	NO
15	U40106PN2012PTC145151	VAYUMITRA ENERGY PRIVATE LIMITED	Director	22/10/2012	22/10/2012	20/12/2013	Active	NO
16	U40106RJ2012PTC040491	PAVANMITRA ENERGY PRIVATE LIMITED	Director	23/10/2012	23/10/2012	25/12/2013	Active	NO
17	U45400PN2014PTC150171	GREENEARTH HOUSING PRIVATE LIMITED	Director	15/01/2014	15/01/2014	-	Active	NO
18	U45400PN2014PTC150209	AIM HOUSING PRIVATE LIMITED	Director	16/01/2014	16/01/2014	-	Active	NO
19	AAB-5794	MALPANI ALLIANCE LIFESPACES LLP	Designated Partner	12/06/2013	12/06/2013	-	Active	NO
20	AAC-0002	MIDORI REALTY LLP	Designated Partner	13/01/2014	13/01/2014	-	Active	NO
21	AAC-0003	VERDANT PROPERTIES LLP	Designated Partner	13/01/2014	13/01/2014	-	Active	NO
22	AAC-5331	THE ACROPOLIS LIFESPACES LLP	Designated Partner	01/08/2014	01/08/2014	-	Active	NO
23	AAC-5332	DIVINE STRETCH LIFESPACES LLP	Designated Partner	01/08/2014	01/08/2014	-	Active	NO
24	AAC-6037	KINGSVILLE REALTY LLP	Designated Partner	18/08/2014	18/08/2014	-	Active	NO

Name :

Mr. Pratik Sushil Mantri

Designation :

Director

Address :

Mantri House, 41 Vittal Malya Road, Bangalore – 560001, Karnataka, India

Date of Birth/Age :

10.01.1990

Date of Appointment :

16.11.2010

DIN No.:

03406818

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	U70102KA1990PTC027924	MANTRI DEVELOPERS PRIVATE LIMITED	Director	20/06/2011	16/11/2010	-	Active	NO
2	U70102KA2010PTC055639	Mantri Mansion Private Limited	Additional director	14/03/2014	14/03/2014	-	Active	NO
3	U45201KA2006PTC039176	Mantri Primus Lifespaces Private Limited	Additional director	09/04/2014	09/04/2014	-	Active	NO
4	U70102KA2009PTC051227	Avant-Garde Shelters Private Limited	Additional director	28/04/2014	28/04/2014	-	Active	NO
5	U45201KA2003PTC033023	Mantri Techzone Private Limited	Additional director	28/04/2014	28/04/2014	-	Active	NO
6	U45300KA2007PTC044484	Mantri Hamlet Private Limited	Director	29/09/2014	28/04/2014	-	Active	NO

Name :

Mr. Jan Willem Adriaan De Geus

Designation :

Director

Address :

44 Chancery Lane, Singapore, 309572, Singapore

Date of Birth/Age :

03.06.1966

Date of Appointment :

04.09.2013

DIN No.:

02590659

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	U55701PN1991PTC134103	PREMSAGAR INFRA REALTY PRIVATE LIMITED	Director	30/09/2009	14/05/2009	-	Active	NO
2	U72900PN2005PTC142131	PANCHSHIL CORPORATE PARK PRIVATE LIMITED	Director	29/09/2009	14/05/2009	09/04/2010	Active	NO
3	U45200PN2005PTC143269	PANCHSHIL INFRASTRUCTURE HOLDINGS PRIVATE LIMITED	Director	30/09/2009	14/05/2009	18/04/2013	Active	NO
4	U45201DL2003PTC123135	ALPHA G:CORP DEVELOPMENT PRIVATE LIMITED	Director	30/09/2009	28/05/2009	-	Active	NO
5	U74899DL1979PTC010091	IHHR HOSPITALITY PRIVATE LIMITED	Director	10/08/2009	28/05/2009	20/09/2012	Active	NO
6	U74999MH2012PTC238755	PROPRIUM CAPITAL ADVISORS (INDIA) PRIVATE LIMITED	Director	08/03/2013	08/03/2013	-	Active	NO
7	U70102KA1990PTC027924	MANTRI DEVELOPERS PRIVATE LIMITED	Director	05/09/2013	04/09/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Prakash Gajanana Hegde
Designation :	Company Secretary
Address :	1915, 53/B, 10^th B Cross, Rajajinagar, I Block, Bangalore – 560010, Karnataka, India
Date of Birth/Age :	08.06.1958
Date of Appointment :	02.03.2007
PAN No.:	AAHPH6792D

MAJOR SHAREHOLDERS

AS ON 05.09.2013

Names of Shareholders	No. of Shares
Sushil P. Mantri	16010
Plaza Agencies Private Limited	41560319
GSS III Rose Investment Inc.	9770190
Aim Estates & Developers Private Limited	126512
Ashish Madhavlal Malpani	410214
Girish Madhavlal Malpani	410835
Harshavardhan Properties Private Limited	135910
Jaywardhan Estate and Developers Private Limited	125720
Kaustubh Estate and Developers Private Limited	591543
Manish Madhavlal Malpani	411007
Lalita Omkarnath Malpani	105134
Raj esh Omkarnath Malpani	1019157
Sanjay Omkarnath Malpani	1016163
Swadesh Properties Private Limited	125891
Yashvardhan Estate and Developers Private Limited	138904
Total	55963509

Equity Share Break up (Percentage of Total Equity)

AS ON 05.09.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	17.46
Bodies corporate	76.49
Directors or relatives of Directors	6.05
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is a real estate developers engaged in the business of development, sale, management and operation of all or any part of townships, housing projects, commercial premises and other related activities. The company is also engaged in the business of power generation.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Punjab National Bank, Cantonment Branch, 143, Devidoss Building, Commercial Street, Bangalore – 560001, Karnataka, India

· Canara Bank, Corporate Services Brach, No. 25, Shankarnarayana Building, M G Road, Bangalore – 560001, Karnataka, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	793.198	0.000
Rupee term loans from others	443.516	0.000
Short Term Borrowings
Rupee term loans from banks	3439.395	7530.439
Term loans from others	550.000	0.000
Working capital loans from banks	0.000	285.043
Total	5226.109	7815.482

Banking Relations :	--
Financial Institution :	3I Infotech Trusteeship Services Limited, 3rd to 6th floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India
Auditors :
Name :	S R Batliboi and Associates Chartered Accountants
Address :	No 24 Vittal Mallya Road, 12th and 13th Floor Canberra Block, Bangalore – 560001, Karnataka, India
Tel. No.:	91-80-40275000
Fax No.:	91-80-22106000
PAN No. :	AABFS3421N
Holding Company :	· Plaza Agencies Private Limited
Joint venture entity :	· Mantri Cornerstone Holding Private Limited · Lakeview Tourism Corporation Tarun Realtors Private Limited - w.e.f August 1, 2012
Associates :	· Spacethetics India LLP · Lanco Hills Technology Park Private Limited
Subsidiaries :	· Abhishek Developers Anthariksh Construction Private Limited · Avant Garde Shelters Private Limited · Brahmagiri Realtors Private Limited · Deeta Constructions Private Limited · Hamara Shelters Private Limited · Inesh Realtors Private Limited · Jasmine Enterprises Private Limited · Mantri Castles Private Limited · Mantri Techzone Private Limited [Formerly Mantri Techzone Limited] · Mantri Abodes Private Limited · Mantri Apartments Private Limited · Mantri Dwellings Private Limited · Mantri Geo Structures Private Limited · Mantri Habitats Private Limited · Mantri Hamlet Private Limited [Subsidiary Company of Mantri Technology Constellations Private Limited under the provision of Section 4 of Companies Act, 1956 and joint venture of Mantri Technology Constellations Private Limited under the provision of notified accounting standard by Companies (Accounting Standards) Rules, 2006 (as amended).] · Mantri Infrastructure Private Limited · Mantri Promoters · Mantri Property Developers Private Limited · Mantri Resi Structures Private Limited · Mantri Sierra Structure Private Limited · Mantri Technology Constellations Private Limited · Mantri Technology Parks Private Limited · Minerva Infra Tech Private Limited · Propcare Holdings Private Limited · Propcare Mall Management (India) Private Limited · Propcare Real Estate Management Private Limited · Raffles Enterprises Private Limited · Shivashakti Estates and Investments Private Limited · Tarun Realtors Private Limited – Subsidiary Company till July 31, 2012 · VanGuard Hospitality Private Limited · Vismay Realtors Private Limited · Devadatta Build Tech Private Limited – Subsidiary Company till August 1, 2012 · Mantri Mansion Private Limited · Mantri Premier Homes Private Limited [Formerly Panchajanya Realtors Private Limited] · Mantri Primus Lifespaces Private Limited [Formerly Pratham Land Masters Private Limited] · Mantri Developers (Singapore) Private Limited
Other Related Parties [Enterprise owned or significantly influenced by key management personnel or significantly influenced by the Company] :	· Varun Developers · Classic Developers · Kirthana Realtors Private Limited · Kirthana Developers LLP · Suraj Inn Private Limited · Devadatta Build Tech Private Limited - w.e.f August 2, 2012 · Prathibha Realtors Private Limited · Movva Outdoor Media · Aayas Trade Services Private Limited · Mantri Homes Private Limited · Indus International School (Pune) Private Limited · Smarthomes Developers (India) Private Limited · Ranga Reddy and Associates · 3D Megacity Private Limited

CAPITAL STRUCTURE

AS ON 05.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
99990000	Equity Shares	Rs.10/- each	Rs.999.900 Millions
10000	Preference Shares	Rs.10/- each	Rs.0.100 Millions
	Total		Rs. 1000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
55963509	Equity Shares	Rs.10/- each	Rs.559.635 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	559.635	559.635	559.635
(b) Reserves & Surplus	15932.164	15358.748	15058.231
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	25.279	25.279	25.279
Total Shareholders’ Funds (1) + (2)	16517.078	15943.662	15643.145
(3) Non-Current Liabilities
(a) long-term borrowings	1236.714	0.000	0.000
(b) Deferred tax liabilities (Net)	15.507	13.065	21.774
(c) Other long term liabilities	198.796	199.083	168.202
(d) long-term provisions	25.380	20.602	16.137
Total Non-current Liabilities (3)	1476.397	232.750	206.113
(4) Current Liabilities
(a) Short term borrowings	7237.327	10832.249	6800.792
(b) Trade payables	550.867	574.248	445.255
(c) Other current liabilities	9280.980	7306.376	7135.964
(d) Short-term provisions	33.534	23.212	14.727
Total Current Liabilities (4)	17102.708	18736.085	14396.738
TOTAL	35096.183	34912.497	30245.996
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	294.089	331.665	336.749
(ii) Intangible Assets	4.197	0.676	2.629
(iii) Capital work-in-progress	1748.971	1048.741	793.233
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	7110.806	6752.333	6781.328
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	6445.345	6120.021	3744.751
(e) Other Non-current assets	122.892	215.121	48.004
Total Non-Current Assets	15726.300	14468.557	11706.694
(2) Current assets
(a) Current investments	260.430	0.000	1500.000
(b) Inventories	7304.115	6493.960	6328.179
(c) Trade receivables	73.530	85.227	25.606
(d) Cash and cash equivalents	820.623	2545.691	288.927
(e) Short-term loans and advances	9583.428	9867.834	8925.080
(f) Other current assets	1327.757	1451.228	1471.510
Total Current Assets	19369.883	20443.940	18539.302
TOTAL	35096.183	34912.497	30245.996

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	3842.800	3699.600	4616.300
		Other Income	978.500	824.000	510.400
		TOTAL (A)	4821.300	4523.600	5126.700
Less	EXPENSES
	PROFIT/(LOSS) BEFORE TAX		818.400	476.200	705.300
Less	TAX		138.400	69.100	46.200
	PROFIT/(LOSS) AFTER TAX		680.000	407.100	659.100
	Earnings Per Share (Rs.)		12.15	--	--

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	14.10	9.00	12.86
Net Profit Margin (PBT/Sales)	(%)	21.30	12.87	15.28
Return on Total Assets (PBT/Total Assets}	(%)	3.12	1.76	3.11
Return on Investment (ROI) (PBT/Networth)		0.05	0.03	0.05
Debt Equity Ratio (Total Debt /Networth)		0.51	0.68	0.43
Current Ratio (Current Asset/Current Liability)		1.13	1.09	1.29

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	559.635	559.635	559.635
Reserves & Surplus	15058.231	15358.748	15932.164
Share Application money pending allotment	25.279	25.279	25.279
Net worth	15643.145	15943.662	16517.078
long-term borrowings	0.000	0.000	1236.714
Short term borrowings	6800.792	10832.249	7237.327
Total borrowings	6800.792	10832.249	8474.041
Debt/Equity ratio	0.435	0.679	0.513

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	4616.300	3699.600	3842.800
		(19.858)	3.871

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	4616.300	3699.600	3842.800
Profit	659.100	407.100	680.000
	14.28%	11.00%	17.70%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short Term Borrowings
Working capital loans from banks	1000.000	487.909
Rupee term loans from banks	0.000	1000.000
Loans and advances from related parties	2247.932	1528.858
Total	3247.932	3016.767

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10524153	01/10/2014	1,000,000,000.00	IFCI LIMITED	IFCI BHAWAN, 4TH FLOOR, CUBBONPET MAIN ROAD, NR S QUARE, BANGALORE, KARNATAKA - 560002, INDIA	C26267229
2	10513268	26/06/2014	400,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES, DR VB GANDHI MARG, FORT, MUMBAI, MAHA RASHTRA - 400001, INDIA	C15281884
3	10511598	13/06/2014	1,000,000,000.00	IFCI LIMITED	IFCI BHAWAN, 4TH FLOOR, CUBBONPET MAIN ROAD, NR S QUARE, BANGALORE, KARNATAKA - 560002, INDIA	C14057376
4	10482974	13/03/2014	2,000,000,000.00	3I INFOTECH TRUSTEESHIP SERVICES LIMITED	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,, T OWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA	B98636350
5	10480775	20/03/2014 *	1,000,000,000.00	ADITYA BIRLA FINANCE LIMITED	INDIAN RAYON COMPOUND,, VERAVAL, GUJARAT - 362266, INDIA	C00629683
6	10457874	19/02/2014 *	700,000,000.00	3I INFOTECH TRUSTEESHIP SERVICES LIMITED	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA	B96768643
7	10431503	19/02/2014 *	2,000,000,000.00	3I INFOTECH TRUSTEESHIP SERVICES LIMITED	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA	B97564819
8	10412022	19/02/2014 *	800,000,000.00	3I INFOTECH TRUSTEESHIP SERVICES LIMITED	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA	B97564058
9	10410379	01/03/2013	500,000,000.00	PNB HOUSING FINANCE LIMITED	9TH FLOORANTRIKSH BHAWAN, 22 K G MARG, NEW DELHI, DELHI - 110001, INDIA	B70285168
10	10403644	19/02/2014 *	800,000,000.00	3I INFOTECH TRUSTEESHIP SERVICES LIMITED	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA	B96652474
11	10402482	07/03/2014 *	1,540,000,000.00	PUNJAB NATIONAL BANK	CANTONMENT BRANCH, 143, DAVIDOSS BUILDING, 143, COMMERCIAL STREET, BANGALORE, KARNATAKA - 560001, INDIA	B98477292
12	10389642	04/03/2013 *	550,000,000.00	ICICI HOME FINANCE COMPANY LIMITED	ICICI BANK TOWERS, BANDRA-KURLA, COMPLEX,, MUMBAI, MAHARASHTRA - 400051, INDIA	B69536431
13	10292902	20/10/2011 *	2,000,000,000.00	3I INFOTECH TRUSTEESHIP SERVICES LIMITED	3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA	B23471527

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.61.62
UK Pound	1	Rs.99.12
Euro	1	Rs.78.89

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		47

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.