MIRA INFORM REPORT

 

 

Report No. :

334985

Report Date :

03.08.2015

           

IDENTIFICATION DETAILS

 

Name :

LODHA DEVELOPERS PRIVATE LIMITED (w.e.f. 11.01.2013)

 

LODHA PRANIK LANDMARK DEVELOPERS PRIVATE LIMITED AMALGAMATED WITH LODHA DEVELOPERS PRIVATE LIMITED

 

 

Formerly Known As :

LODHA DEVELOPERS LIMITED (w.e.f. 02.08.2009)

 

LODHA DEVELOPERS PRIVATE LIMITED

 

 

Registered Office :

412, Floor- 4, 17G Vardhaman Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai – 400001, Maharashtra

Tel. No.:

91-22-23024400

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

17.06.2011

 

 

Com. Reg. No.:

11-218789

 

 

Capital Investment / Paid-up Capital :

Rs. 1181.080 Million

 

 

CIN No.:

[Company Identification No.]

U45200MH1995PTC093041

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The Company is engaged in development / construction of real estate.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The company has taken huge external borrowing, which acts as threatening to the liquidity position of the company.

 

However, rating takes into consideration company’s established brand name in the real estate industry in Mumbai supported professionally qualified and experienced promoters and diverse product portfolio rendering to all segments of (residential) real estate.

 

Trade relations are reported as fair. Payment terms are reported to be slow but correct.

 

In view of established track record of business operations, the company can be considered for business dealings at usual trade terms and conditions.

 

Note: As claimed Mr. Rajkumar, Assistant manager that “LODHA PRANIC LANDMARK DEVELOPERS PRIVATE LIMITED” is amalgamated with LODHA DEVELOPERS PRIVATE LIMITED in the year 01st January 2014.

 

NOTES :

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

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

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 31-03-2013.

 

INFORMATION DENIED BY

 

Name :

Mr. Atul Tiwari

Designation :

General Manager Finance

Contact No.:

91-22-23024400

Date :

31.07.2015

 

Name :

Mr. Rajkumar 

Designation :

Assistant Manager

Contact No.:

91-22-23024400

Date :

31.07.2015

 

 

LOCATIONS

 

Registered Office :

412, Floor- 4, 17G Vardhaman Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai – 400001, Maharashtra, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

shares@lodhagroup.com

 

 

Head Office :

Lodha Pavllion, Appolio Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India  

Tel. No.:

91-22-23024400

Fax No.:

91-22-23000693

E-Mail :

info@lodhagroup.com

 

 

DIRECTORS

 

As on 26.12.2014

 

Name :

Mr. Rajendra Narpatlal Lodha

Designation :

Director    

Address :

D-001, Zarna Enclave, Near Sai Dham Mandir, Western Express Highway, Kandivali, Mumbai – 400 101, Maharashtra, India

Date of Birth/Age :

10.06.1966

Date of Appointment :

22.09.2009

DIN No.:

00370053

 

 

Name :

Mr. Kishore Purushottam Tidke

Designation :

Director    

Address :

7 / 4, Adityman, Kanti Nagar Andheri (East), Mumbai-400059, Maharashtra, India

Date of Appointment :

17.07.2015

DIN No.:

02070198

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 26.12.2014

 

Names of Shareholders

 

No. of Shares

Mangal Prabhat Lodha

 

29359360

Abhishek Mangal Prabhat Lodha

 

16308949

Abhishek Mangal Prabhat Lodha

 

5748651

Abhinandan Mangal Prabhat Lodha

 

16308948

Abhinandan Mangal Prabhat Lodha

 

5748652

Sambhavnath Infrabuild and Farms Private Limited, India

 

131091520

Lodha Leading Builders Private Limited, India

 

5600000

Ganeshji Reality and Agro Private Limited, India

 

2800000

Lodha Properties and Realty Private Limited, India

 

2280000

Lodha Finstock Private Limited, India

 

969920

Total

 

216216000

 

 

Names of Preference Shareholders

 

No. of Shares

Lodha Pranik Landmark Developers Private Limited, India

 

20000000

 

 

 

Total

 

20000000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 26.12.2014

 

Category

Percentage

Bodies corporate

66.02

Other top fifty shareholders

33.98

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

The Company is engaged in development / construction of real estate.

 

 

Products/Service :

Item Code No.

Product Description

99531129

Multi-dwelling residential buildings n.e.c.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Punjab & Sind Bank

Branch

Fort, Mumbai, Mumbai - 400001, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Standard Chartered Bank, 90 M. G. Road, Fort, Mumbai - 400001, Maharashtra, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans taken for fixed assets

5.583

7.610

 

 

 

Short-term borrowings

 

 

Non-convertible debentures others

0.000

5250.003

Term loans from banks

4950.000

1900.000

Term loans from others

2420.900

6308.701

Other loans and advances

279.615

320.438

Total

7656.098

13786.752

 

 

Financial Institution

Housing Development Finance Corporation Limited, Ramon House 169backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra, India

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Shanker and Kapani

Chartered Accountants

Address :

Mumbai, Maharashtra, India

Address  :

NTC House, 2nd Floor, 15, N. M. Marg, Ballard Estate, Mumbai – 400038, Maharashtra, India

Tel. No.:

91-22-22695719

Fax No.:

91-22-22695720

E-Mail :

kapani@gmail.com

kapani@sify.com

PAN N Income-tax PAN of auditor or auditor's firm :

AAKFS6521L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding Company :

·         Sambhavnath Infrabuild and Farms Private Limited (From 17-July-2013)

 

·          

Subsidiaries :

·         Aasthavinayak Estate Company Private Limited

·         Aasthavinayak Real Estate Private Limited

·         Adinath Builders Private Limited

·         Ajitnath Hi – Tech Builders Private Limited

·         Anantnath Constructions and Farms Private Limited

·         Arihant Premises Private Limited

·         Cowtown Land Development Private Limited

·         Dalhousie Leasing and Financial Services Private Limited

·         Futuretech Constructions and Precast Private Limited upto 28-02-2013

·         Galaxy Premises Private Limited

·         Gandhar Builders Private Limited

·         Hi-class Buildcon Private Limited

·         Hotel Rahat Palace Private Limited

·         International Airport Builders & Management Services Private Limited

·         Jawala Real Estate Private Limited

·         Kidderpore Holdings Limited

·         Krona Realties Private Limited

·         Lodha Attentive Developers And Farms Private Limited

·         Lodha Buildcon Private Limited

·         Lodha Building and Construction Private Limited

·         Lodha Crown Buildmart Private Limited

·         Lodha Designer Construction Private Limited

·         Lodha Developers UK Limited

·         Lodha Elevation Buildcon Private Limited

·         Lodha Estate Private Limited

·         LodhaGlowing Construction Private Limited

·         Lodha Hi – Rise Builders Private Limited

·         Lodha Home Developers Private Limited

·         Lodha Home Styles Private Limited

·         Lodha Impression Real Estate Private Limited

·         Lodha Land Developers Private Limited

·         Lodha Pinnacle Buildtech And Farms Private Limited

·         Lodha Prime Buildfarms Private Limited

·         Macrotech Constructions Private Limited upto 09-08-2013

·         Mahavir Build Estate Private Limited

·         Manan Finserve Private Limited

·         Microtec Constructions Private Limited

·         Nabhiraja Software Design Private Limited

·         Naminath Builders and Farms Private Limited

·         National Standard (India) Limited

·         Odeon Theatres and Properties Private Limited

·         Palava Dwellers Private Limited (Formerly known as Lodha Dwellers Private Limited)

·         Palava Utilities Private Limited

·         Proficient Buildwell Private Limited

·         Sahajanand Hi-Tech Constructions Private Limited

·         Sai Ishwer Finvest Private Limited

·         Samvara Buildtech Private Limited

·         Sanathnagar Enterprises Limited

·         Sarvavasa Buildtech and Farms Private Limited

·         Shantinath Designer Construction Private Limited

·         Shreeniwas Abode and House Private Limited

·         Shreeniwas Cotton Mills Limited

·         Shri Kailash Properties and Agrofarms Private Limited

·         Shri Nakoda Bhirav Realtors Private Limited

·         Shri Vardhvinayak Builders Private Limited

·         Siddhnath Residential Paradise Private Limited

·         Simtools Private Limited

·         Sitaldas Estate Private Limited

·         Suryakrupa Constructions Private Limited(Formerly Known as Suryakrupa Farms and Constructions Private Limited)

·         Kundan Realtors Private Limited From 29-May-2013)

·         Roselabs Finance Ltd. (From 10-June-2013)

·         Lodha Buildtech Private Limited (From 01-July-2013)

·         Lodha Pranik Landmark Developers Private Limited (From 01-July-2013)

·         Lodha Aviation Private Limited 21- (From August-2013)

·         Palava City Management Association (Section 25 Company)  (From 06-November-2013)

·         Lodha Developers International (Mauritius) Limited (From 25-November-2013)

·         Shree Sainath Enterprises Construction and Developers Private Limited* (From 28-November-2013)

·         Ishwer Realty and Technologies Private Limited (From 26-December-2013)

·         Sambhavnath Reality and Farms Private Limited (From 31-December-2013)

·         Lodha Strategic Development Private Limited

 

 

Limited Liability Partnerships :

·         Ajeethnath Hi – Tech Buildtech LLP

·         Lodha Dwellerz LLP

·         Lodha Fincorp Distribution Services LLP

 

 

Partnership Firms Under Control:

·         Lodha Construction (Dombivli)

·         Lodha Palazzo

·         Mahavir Associates

·         Vivek Enterprises

 

 

Others (Enterprises owned/ controlled by controlling shareholder and / or his relatives with whom the Company had transactions):

·         Dharmanath Buildtech And Farms Private Limited

·         Lodha Brand Holdings Private Limited (Formerly Known as Lodha Development Estate Private Limited)

·         Lodha Builders Private Limited

·         Lodha Charitable Trust

·         Lodha Constructions Private Limited

·         Lodha Family Discretionary Trust

·         Lodha Facilities Management Limited

·         Lodha Finstock Private Limited

·         Lodha Healthy Constructions and Developers Private Limited

·         Lodha Properties Development Private Limited (Upto 16-July-2013)

·         Lodha Pranik Landmark Developers Private Limited (Upto 30-June-2013)

·         Lodha Plaza LLP

·         Piramal Chaturbhuj Trust

·         Pangea Holdings Limited

·         Sitaben Shah Memorial Trust

 

 

CAPITAL STRUCTURE

 

As on 26.12.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

300,180,000

Equity Shares

Rs.5/- each

Rs. 1500.900 Million

20,000,000

Preference Shares

Rs.5/- each

Rs. 100.000 Million

 

Total

 

Rs. 1600.900 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

216,216,000

Equity Shares

Rs.5/- each

Rs. 1081.080 Million

20,000,000

Preference Shares

Rs.5/- each

Rs. 100.000 Million

 

Total

 

Rs.1181.080 Million

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

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

1181.080

1181.080

1081.080

(b) Reserves & Surplus

5767.368

5766.015

683.632

(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)

6948.448

6947.095

1764.712

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

5.583

7.610

0.000

(b) Deferred tax liabilities (Net)

168.565

87.796

122.152

(c) Other long term liabilities

163.486

146.689

98.647

(d) long-term provisions

63.018

15.837

7.095

Total Non-current Liabilities (3)

400.652

257.932

227.894

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

38093.062

28477.521

17910.542

(b) Trade payables

897.129

1812.526

603.337

(c) Other current liabilities

6686.086

3644.963

1515.662

(d) Short-term provisions

25.649

77.382

2.692

Total Current Liabilities (4)

45701.926

34012.392

20032.233

 

 

 

 

TOTAL

53051.026

41217.419

22024.839

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

51.037

47.630

37.194

(ii) Intangible Assets

13.975

20.325

22.305

(iii) Capital work-in-progress

143.959

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

19903.347

10048.414

728.503

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

411.302

363.983

157.743

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

20523.620

10480.352

945.745

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

993.572

214.279

0.000

(b) Inventories

10662.382

8551.786

2338.862

(c) Trade receivables

1514.525

1297.448

201.707

(d) Cash and cash equivalents

1234.274

914.515

1545.649

(e) Short-term loans and advances

14950.784

16944.597

16815.659

(f) Other current assets

3171.869

2814.442

177.217

Total Current Assets

32527.406

30737.067

21079.094

 

 

 

 

TOTAL

53051.026

41217.419

22024.839

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

REVENUE                   

4583.812

4814.137

3325.570

 

 

 

 

 

Less

EXPENSES

4501.693

4648.774

2894.720

 

 

 

 

 

 

PROFIT BEFORE TAX

82.119

165.363

430.850

 

 

 

 

 

Less

TAX                                                                 

80.766

2.949

127.212

 

 

 

 

 

 

PROFIT AFTER TAX

1.353

162.414

303.638

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.01

0.69

1.40

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

2.027

1.822

0.127

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operation

(1759.038)

(5822.878)

(2101.683)

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.03

3.37

9.13

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

1.79

3.43

12.96

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.25

0.53

2.02

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.02

0.24

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

5.48

4.10

10.15

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.71

0.90

1.05

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1081.080

1181.080

1181.080

Reserves & Surplus

683.632

5766.015

5767.368

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

1764.712

6947.095

6948.448

 

 

 

 

long-term borrowings

0.000

7.610

5.583

Short term borrowings

17910.542

28477.521

38093.062

Current maturities of long-term debts

0.127

1.822

2.027

Total borrowings

17910.669

28486.953

38100.672

Debt/Equity ratio

10.149

4.101

5.483

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue

3325.570

4814.137

4583.812

 

 

44.761

(4.784)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue

3325.570

4814.137

4583.812

Profit

303.638

162.414

1.353

 

9.13%

3.37%

0.03%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of establishment

Yes

2]

Constitution of the entity -Incorporation details

Yes

3]

Locality of the entity

Yes

4]

Premises details

No

5]

Buyer visit details

--

6]

Contact numbers

Yes

7]

Name of the person contacted

Yes

8]

Designation of contact person

Yes

9]

Promoter’s background

Yes

10]

Date of Birth of Proprietor / Partners / Directors

Yes

11]

Pan Card No. of Proprietor / Partners

No

12]

Voter Id Card No. of Proprietor / Partners

No

13]

Type of business

Yes

14]

Line of Business

Yes

15]

Export/import details (if applicable)

No

16]

No. of employees

No

17]

Details of sister concerns

Yes

18]

Major suppliers

No

19]

Major customers

No

20]

Banking Details

Yes

21]

Banking facility details

Yes

22]

Conduct of the banking account

--

23]

Financials, if provided

Yes

24]

Capital in the business

Yes

25]

Last accounts filed at ROC, if applicable

Yes

26]

Turnover of firm for last three years

Yes

27]

Reasons for variation <> 20%

--

28]

Estimation for coming financial year

No

29]

Profitability for last three years

Yes

30]

Major shareholders, if available

Yes

31]

External Agency Rating, if available

No

32]

Litigations that the firm/promoter involved in

Yes

33]

Market information

--

34]

Payments terms

No

35]

Negative Reporting by Auditors in the Annual Report

No

 

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Short-term borrowings

 

 

 

 

 

Term loans from banks

0.000

2099.397

Term loans from others

1680.000

1250.500

Other loans and advances

1561.055

1394.053

Loans and advances from others

27201.492

9954.429

Total

30442.547

14698.379

 

 

LITIGATION DETAILS

Bench:- Bombay

Presentation Date:- 26/07/2013

Lodging No. :

SSL/641/2013

Failing Date:-

26/07/2013

Reg. No.:-

SS/626/2013

Reg. Date:-

14/08/2013

 

 

 

 

Petitioner:-

REALTORS NETWORK PRIVATE LIMITED

Respondent:-

LODHA DEVELOPERS LIMITED

Petn. Adv:-

A G REVANKAR AND CO (0)

Resp. Adv.:-

VERITAS LEGAL (0)

District:-

MUMBAI

Bench:-

SINGLE

Category:-

MONETARY SUITS

Status:-

Pre-Admission

Stage:-

FOR FARMING ISSUES [ ORIGINAL SIDE MATTERS]

Next Date:-

13/08/2015

 

 

Coram:-

HON'BLE SHRI JUSTICE K.R. SRIRAM

 

 

Last Date:-

29/07/2015

Stage:-

FOR FARMING ISSUES [ ORIGINAL SIDE MATTERS]

Last Coram:-

HON'BLE SHRI JUSTICE K.R. SRIRAM

 

 

Act. :

Code of Civil Procedure 1908

 

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10582574

27/07/2015

2,500,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA

C60085537

2

10546396

19/01/2015

2,750,000,000.00

State Bank of India

Commercial Branch, N.G.N. Vaidya Marg,, Bank Street, Horniman Circle, Fort, Mumbai, Maharashtra - 400001, INDIA

C42128892

3

10544874

29/12/2014

2,250,000,000.00

FICS CONSULTANCY SERVICES LIMITED

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, MUMBAI, Maharashtra - 400025, INDIA

C41353228

4

10534656

24/11/2014

520,000,000.00

KOTAK MAHINDRA PRIME LIMITED

27BKC, C 27, G Block, Bandra Kurla Complex, Bandra 
, Bandra Kurla Complex, Bandra (E),, Mumbai, Maharashtra - 400051, INDIA

C35831072

5

10526625

25/09/2014

5,700,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE,, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, Maharashtra - 400013, INDIA

C30270706

6

10514687

18/07/2014

2,500,000,000.00

State Bank of India

Commercial Branch, N.G.N. Vaidya Marg,, Bank Street, Horniman Circle, Fort, Mumbai, Maharashtra - 400001, INDIA

C16286239

7

10512776

15/07/2014

5,000,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA

C14954952

8

10490819

24/03/2014

1,500,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE 169BACKBAY RECLAMATION, H T PAREKH MA 
RG, MUMBAI, Maharashtra - 400020, INDIA

C03947710

9

10490602

24/03/2014

1,300,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE 169 BACKBAY RECLAMATION, H T PAREKH M 
ARG, MUMBAI, Maharashtra - 400020, INDIA

C03901675

10

10470075

12/02/2014 *

3,000,000,000.00

Punjab & Sind Bank

Fort, Mumbai, Mumbai, Maharashtra - 400001, INDIA

B98381486

 

 

* Date of charge modification

 

 

FINANCIAL OVERVIEW

 

The Company achieved revenue of Rs. 4583.812 Million for the financial year 2013-2014 as compared to Rs. 4814.137 Million for the previous financial year 2012-2013. There has been a decrease in Company’s total expenditure from Rs. 4648.774 Million for the financial year 2012-13 to Rs. 4501.693 Million for the financial year 2013-14. The Company recorded a net profit for the year of Rs. 1.353 Million for the year as against the net profit for the year of Rs. 162.414 Million achieved during the previous financial Year 2012-2013.

 

 

COMPANY OVERVIEW

 

The Company carries out operations through its subsidiaries also (the Company and its subsidiaries are collectively referred to as the Group)

 

The Group is a leading player in the Mumbai Metropolitan Region with focus on residential and office space development. The Group is recognized as a premium player in the markets and segments in which it operates.

Execution continued to be the key focus of the Group. The Group has a strong pipeline for development for the next few years.

 

The Group launched a number of real estate development projects in FY14.

 

MERGER OF WHOLLY OWNED SUBSIDIARIES AND PARTNERSHIP FIRM, WITH THE COMPANY

 

The Company made an application to the Hon’ble High Court of Bombay (‘the High Court’) for its appropriate order for approving amalgamation of Lodha Prime Buildfarms Private Limited, Lodha Glowing Construction Private Limited, Lodha Attentive Developers and Farms Private Limited, International Airport Builders & Management Services Private Limited, Lodha Construction (Dombivli) w.e.f. 1st April, 2013, being Appointed Date and Sambhavnath Reality and Farms Private Limited, Lodha Strategic Development Private Limited, Lodha Palazzo w.e.f. 1st January, 2014, being Appointed Date and Lodha Buildtech Private Limited, Lodha Pranik Landmark Developers Private Limited w.e.f. 1st February, 2014, being Appointed Date with the Company. The order in this regard is awaited from the High Court.

 

 

FIXED ASSETS

 

·         Site / Site Office and Sample Flats

·         Plant and Machinery

·         Office Equipments

·         Air Conditioners

·         Vehicles

·         Computers

·         Furniture and Fixtures

·         SAP License Fees and Implementation cost

 

 

 

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.64.01

UK Pound

1

Rs.99.83

Euro

1

Rs.70.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

JYTK

 

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

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

5

--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

 

42

 

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.