MIRA INFORM REPORT

Report No. :	348974
Report Date :	13.11.2015

IDENTIFICATION DETAILS

Name :	REAL GEM BUILDTECH PRIVATE LIMITED
Registered Office :	DB House, General A.K. Vaidhya Marg, Goregaon (East), Mumbai – 400063, Maharashtra
Tel. No.:	91-22-40778600
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.07.2009
Com. Reg. No.:	11-193816
Capital Investment / Paid-up Capital :	Rs. 135.100 Million
CIN No.: [Company Identification No.]	U45202MH2009PTC193816
IEC No.:	0310034442
TAN No.: [Tax Deduction & Collection Account No.]	MUMR25637D
PAN No.: [Permanent Account No.]	AAECR4189C
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged into Construction Activity and Real Estate Development.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow and Delayed
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2009, engaged into construction activity and real estate development. It has moderate track record. For the financial year ended 2014, company has shown some improvement in its revenue profile by reporting profit of Rs. 29.5 Million from its business operations which recovered some of the accumulated losses incurred from its past few years. Further, due to accumulated losses, the networth of the company has been affected and has been eroded during a year under a review. Liquidity position of the company is under pressure. However, business is active. Payments are reported to be slow and delayed. In view of aforesaid, company can be considered for business dealings on safe and secured 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

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 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Ms. Rohini Patel
Designation :	Accounts Department
Contact No.:	91-22-40778600
Date :	10.11.2015

LOCATIONS

Registered Office :	DB House, General A.K. Vaidhya Marg, Goregaon (East), Mumbai – 400063, Maharashtra, India
Tel. No.:	91-22-40778600
Fax No.:	91-22-28421667/ 28415550
E-Mail :	jignesh.shah@dbg.co.in info@dbg.co.in
Website :	http://www.dbrealty.co.in
Site Office :	Orchid Crown, Plot Bearing No. 2053, TPS IV of Mahim Division, Gokhale Road, South Dadar, Mumbai – 400028, Maharashtra, India

DIRECTORS

AS ON 27.09.2014

Name :

Mr. Rajiv Batekrishna Agarwal

Designation :

Director

Address :

B-802, Shagun Tower, Yashodham, Gen. A.K. Vaidhya Marg, Malad (East), Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

18.03.1962

Date of Appointment :

30.04.2010

DIN No.:

00030453

Name :

Mr. Salim Usman Balwa

Designation :

Director

Address :

Aaliya Manor, 38 TPS IV, 9^th Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

24.11.1972

Date of Appointment :

08.03.2011

DIN No.:

00017899

Name :

Mr. Nabil Yusuf Patel

Designation :

Whole-time director

Address :

Al-Hashmi, 10^th Floor, Flat No. 3 4, 85 Cyrus Avenue, Mumbai – 400011, Maharashtra, India

Date of Birth/Age :

10.03.1979

Date of Appointment :

28.04.2012

DIN No.:

00298093

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	U99999MH1983PTC030407	CELICA INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	28-03-1997	28-03-1997	11-06-2013	Active	NO
2	U24220MH1980PTC023443	BIMAL PAINTS PRIVATE LIMITED	Director	10-10-2000	10-10-2000	-	Active	NO
3	U99999MH1957PTC010866	PRABHAT (STOVE AND LAMP) PRODUCTS COMPANY PRIVATE LIMITED	Director	01-07-2005	01-07-2005	12-06-2013	Active	NO
4	U72900MH2001PTC131064	MJFT TECHNOLOGIES AND SOLUTIONS PRIVATE LIMITED	Director	09-11-2006	09-11-2006	-	Strike off	NO
5	U45400MH2007PTC170732	Y B REAL ESTATES PRIVATE LIMITED	Director	10-05-2007	10-05-2007	23-06-2009	Converted to LLP and dissolved	NO
6	U45400MH2007PTC170672	CHOCOLATE DEVELOPERS PRIVATE LIMITED	Additional director	25-06-2007	25-06-2007	04-08-2009	Active	NO
7	U45200MH2004PTC145288	NEELKAMAL REALTORS AND ERECTORS INDIA PRIVATE LIMITED	Whole-time director	01-10-2009	01-04-2008	01-10-2013	Active	NO
8	U45400MH2007PTC170594	THREE STAR DELUXE HOTELS (INDIA) PRIVATE LIMITED	Director	23-08-2008	23-04-2008	10-11-2012	Active	NO
9	U70100MH2006PTC159708	DB (BKC) REALTORS PRIVATE LIMITED	Alternate director	29-01-2011	29-01-2011	26-11-2011	Active	NO
10	U70100MH2005PTC158322	NEELKAMAL REALTORS TOWER PRIVATE LIMITED	Alternate director	29-01-2011	29-01-2011	26-11-2011	Active	NO
11	U45202MH2009PTC194183	DB VIEW INFRACON PRIVATE LIMITED	Director	27-09-2014	08-03-2011	01-10-2015	Active	NO
12	U64203MH2007PTC173699	DB TELE WIMAX PRIVATE LIMITED	Alternate director	24-03-2011	24-03-2011	24-03-2012	Active	NO
13	U70100MH1996PTC100864	M J ESTATES PRIVATE LIMITED	Alternate director	25-03-2011	25-03-2011	03-12-2011	Active	NO
14	U45200MH2008PTC184566	DB CONGLOMERATE REALTY PRIVATE LIMITED	Alternate director	25-03-2011	25-03-2011	03-12-2011	Active	NO
15	U45200MH1996PTC099738	P G DEVELOPERS PRIVATE LIMITED	Alternate director	25-03-2011	25-03-2011	03-12-2011	Active	NO
16	U45203MH2007PTC176104	SPACECON REALTY PRIVATE LIMITED	Director	30-08-2011	26-03-2011	-	Active	NO
17	U45400MH2006PTC160586	MAJESTIC INFRACON PRIVATE LIMITED	Alternate director	10-06-2011	10-06-2011	26-11-2011	Active	NO
18	U45201MH2006PLC164787	PONY INFRASTRUCTURE & CONTRACTORS LIMITED	Director	24-09-2013	10-06-2011	-	Active	NO
19	U45202MH2009PTC193816	REAL GEM BUILDTECH PRIVATE LIMITED	Whole-time director	30-04-2012	28-04-2012	-	Active	NO
20	U55204MH2012PTC232397	GOREGAON HOTEL AND REALTY PRIVATE LIMITED	Director	26-09-2014	13-12-2013	-	Active	NO
21	U70102MH2008PTC185843	HEAVEN STAR HOTELS (DELHI) PRIVATE LIMITED	Director	29-09-2014	04-02-2014	-	Active	NO
22	U70100MH2004PTC149602	MARINE DRIVE HOSPITALITY & REALTY PRIVATE LIMITED	Director	30-09-2014	10-02-2014	-	Active	NO
23	AAA-2217	DB REALTY AND SHREEPATI INFRASTRUCTURES LLP	Body corporate as Designated Partner	30-05-2011	30-05-2011	-	Active	NO
24	AAA-2574	SASWAD WAREHOUSING DEVELOPERS & BUILDERS LLP	Body corporate as Designated Partner	17-05-2011	17-05-2011	30-06-2015	Active	NO
25	AAA-2585	AHMEDNAGAR WAREHOUSING DEVELOPERS & BUILDERS LLP	Body corporate as Designated Partner	17-05-2011	17-05-2011	30-06-2015	Active	NO
26	AAA-2587	DAUND WAREHOUSING DEVELOPERS & BUILDERS LLP	Body corporate as Designated Partner	17-05-2011	17-05-2011	30-06-2015	Active	NO
27	AAA-2594	SOLAPUR WAREHOUSING DEVELOPERS & BUILDERS LLP	Body corporate as Designated Partner	17-05-2011	17-05-2011	30-06-2015	Active	NO
28	AAA-2595	LATUR WAREHOUSING DEVELOPERS & BUILDERS LLP	Body corporate as Designated Partner	17-05-2011	17-05-2011	30-06-2015	Active	NO

Name :

Mr. Jayvardhan Vinod Goenka

Designation :

Additional director

Address :

Karmyog, 6^th Floor, Plot No. 11, Hatkesh Society, N.S. Road No. 6, Juhu Scheme, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

10.03.1990

Date of Appointment :

02.12.2013

DIN No.:

03546392

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	U70100MH1982PTC028541	PUSHPA PROPERTIES PRIVATE LIMITED	Director	20-09-2012	25-03-2011	05-02-2015	Active	NO
2	U01110MH1994PTC084044	SCHON FARMS PRIVATE LIMITED	Director	10-09-2011	25-03-2011	05-02-2015	Active	NO
3	U24110MH1994PTC083169	SIGATU CHEMICALS PRIVATE LIMITED	Director	10-09-2011	25-03-2011	05-02-2015	Active	NO
4	U45200MH2004PTC144751	TRIDENT ESTATES PRIVATE LIMITED	Director	20-09-2012	25-03-2011	05-02-2015	Active	NO
5	U45202MH2001PTC132103	SIDDHIVINAYAK REALTIES PRIVATE LIMITED	Director	02-08-2011	30-06-2011	-	Active	NO
6	U70100MH2004PTC149602	MARINE DRIVE HOSPITALITY & REALTY PRIVATE LIMITED	Director	29-09-2012	10-12-2011	10-02-2014	Active	NO
7	L70200MH2007PLC166818	D B REALTY LIMITED	Director	22-09-2012	10-12-2011	-	Active	NO
8	U01407MH2008PTC177862	EARTHEN AGRO & INFRASTRUCTURE PRIVATE LIMITED	Director	20-09-2012	14-01-2012	-	Active	NO
9	U45400MH2007PTC171582	KHAIRUN DEVELOPERS PRIVATE LIMITED	Director	20-09-2012	07-07-2012	03-02-2014	Active	NO
10	U45200MH1982PTC026500	EVERSMILE CONSTRUCTION CO PRIVATE LIMITED	Director	28-09-2012	10-09-2012	20-03-2014	Active	NO
11	U70100MH1979PTC020933	CONWOOD CONSTRUCTION & DEVELOPERS PRIVATE LIMITED	Director	28-09-2012	10-09-2012	-	Active	NO
12	U45200MH1989PTC154095	GOAN REAL ESTATE AND CONSTRUCTION PRIVATE LIMITED	Whole-time director	14-02-2015	10-09-2012	-	Active	NO
13	U45200MH1998PTC116135	AKSHAY STHAPATYA PRIVATE LIMITED	Director	31-10-2013	31-10-2013	-	Active	NO
14	U70101MH1997PTC109824	SANGAM CITY TOWNSHIP PRIVATE LIMITED	Additional director	02-12-2013	02-12-2013	11-09-2014	Active	NO
15	U92120MH2008PTC185498	MILAN THEATRES PRIVATE LIMITED	Additional director	02-12-2013	02-12-2013	21-06-2014	Active	NO
16	U45400MH2008PLC186121	DB MAN REALTY LIMITED	Director	20-09-2014	02-12-2013	10-03-2015	Active	NO
17	U45202MH2009PTC193816	REAL GEM BUILDTECH PRIVATE LIMITED	Director	27-09-2014	02-12-2013	-	Active	NO
18	U45201MH2006PTC164356	PUNE BUILDTECH PRIVATE LIMITED	Director	29-09-2014	02-12-2013	-	Active	NO
19	U70102MH2008PTC185843	HEAVEN STAR HOTELS (DELHI) PRIVATE LIMITED	Director	29-09-2014	02-12-2013	03-10-2015	Active	NO
20	U55101MH2004PTC149219	GOAN HOTELS & REALTY PRIVATE LIMITED	Director	29-09-2014	11-01-2014	-	Active	NO
21	U45200MH1990PTC056103	HILLSIDE CONSTRUCTIONS COMPANY PRIVATE LIMITED	Additional director	14-01-2014	14-01-2014	10-05-2014	Active	NO
22	U74899MH1991PTC170072	ASTALAKSHMI FINANCIAL AND INVESTMENT SERVICES PRIVATE LIMITED	Director	22-09-2014	14-01-2014	14-02-2015	Active	NO
23	U27200MH1946PLC005069	THE CRESCENT IRON AND STEEL CORPORATION LTD	Director	22-09-2014	14-01-2014	05-02-2015	Active	NO
24	U70101MH1989PTC052891	HIRACON PROPERTIES PRIVATE LIMITED	Director	22-09-2014	14-01-2014	14-02-2015	Active	NO
25	U70100MH1982PTC092727	EXCON DEVELOPERS PRIVATE LIMITED	Director	22-09-2014	14-01-2014	14-02-2015	Active	NO
26	U45200MH2008PTC181214	MODERN HI-TECH DEVELOPERS PRIVATE LIMITED	Director	22-09-2014	14-01-2014	-	Active	NO
27	U99999MH1975PTC018511	CONWOOD AGENCIES PRIVATE LIMITED	Director	22-09-2014	14-01-2014	-	Active	NO
28	U55200MH1993PTC075524	DYNAMIX CLUBS AND RESORTS PRIVATE LIMITED	Director	22-09-2014	14-01-2014	-	Active	NO
29	U01110MH1994PTC083103	MALDUNGE RETREAT AND FARMING PRIVATE LIMITED	Director	22-09-2014	14-01-2014	14-02-2015	Active	NO
30	U01110MH1994PTC078964	MALDUNGE FARMING AND AGRO PRODUCE PRIVATE LIMITED	Director	22-09-2014	14-01-2014	14-02-2015	Active	NO
31	U45400MH2007PTC170672	CHOCOLATE DEVELOPERS PRIVATE LIMITED	Director	18-09-2014	25-01-2014	27-02-2015	Active	NO
32	U01403MH2007PTC176541	TOPGROW AGRO AND INFRASTRUCTURE PRIVATE LIMITED	Director	18-09-2014	25-01-2014	-	Active	NO
33	U45200MH2007PTC166782	V S ERECTORS & BUILDERS PRIVATE LIMITED	Director	18-09-2014	25-01-2014	-	Active	NO
34	U55200MH1983PTC031709	CONSORT HOTELS PRIVATE LIMITED	Director	22-09-2014	03-02-2014	14-02-2015	Active	NO
35	U45205MH2008PTC177833	AGRIMONY AGRO & INFRASTRUCTURE PRIVATE LIMITED	Director	26-09-2014	03-02-2014	-	Active	NO
36	U45200MH1988PTC047902	KALPATARU PLAZA PRIVATE LIMITED	Director	30-09-2014	19-02-2014	-	Active	NO
37	U70100MH1979PTC021291	EVERSMILE PROPERTIES PRIVATE LIMITED	Director	30-09-2014	19-02-2014	-	Active	NO
38	AAA-6587	TOP NOTCH BUILDCON LLP	Designated Partner	23-01-2012	23-01-2012	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Rohini Patel
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2014

Names of Equity Shareholders	No. of Shares
D B Realty Limited, India	9998
Salim Usman Balwa as Nominee of D B Realty Limited, India	1
Sunita Goenka as Nominee of D B Realty Limited, India	1
Total	10000

Names of Preference Shareholder	No. of Shares
D B Realty Limited, India	13500000
Total	13500000

AS ON 27.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into Construction Activity and Real Estate Development.
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :
Products :	Automatic Climbing form Work
Countries :	Australia
Terms :
Selling :	Cheque
Purchasing :	Cheque

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Others

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

100 (Approximately)

Bankers :

Bank Name:	Oriental Bank of Commerce
Branch:	Gokuldham Film City Road, Goregaon (East) Branch, Mumbai, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	91-22-28493012
Name of Account Holder:	Real Gem Buildtech Private Limited
Account Number:	05211131002114
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	No one is responding

· ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· State Bank of India [Account No.: 32023860940]

· HDFC Bank Limited [Account No.: 02120350000213]

· Housing Development Finance Corporation Limited [Account No.: 02120350000220]

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	2189.706	1734.477
Term loans from others	10.488	0.000
Total	2200.194	1734.477

Auditors :
Name :	Mehta Chokshi and Shah Chartered Accountants
Address :	Maker Bhavan 3, 214, 2^nd Floor, New Marine Lines, Mumbai – 400020, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAFM5817F
Memberships :	--
Collaborators :	--
Holding Company :	D B Realty Limited [L70200MH2007PLC166818]
Fellow Subsidiaries :	· MIG (Bandra) Realtors and Builders Private Limited (Formerly known as DB MIG Realtors and Builders Private Limited) [U45200MH2007PTC172150] · Neelkamal Realtors Tower Private Limited [U70100MH2005PTC158322] · Gokuldham Real Estate Development Company Private Limited [U45201MH2004PTC144704] · Mira Real Estate Developers · Neelkamal Realtors Suburban Private Limited [U70100MH2005PTC154506] · N. A. Estates Private Limited [U45200MH1996PTC100412]
Entities Jointly Controlled by Holding Company :	· Suraksha DB Realty · Dynamix Realty · Turf Estate JV · Shree Shantinagar Venture
Enterprise where individuals i.e. KMP and their relatives have significant influence other than those mentioned above :	· KG Enterprises · Conwood Construction and Developers Private Limited [U70100MH1979PTC020933] · Eon Aviation Private Limited [U62200MH2007PTC173394] · Pony Infrastructure and Contractors Limited [U45201MH2006PLC164787] · Neelkamal Realtors and Builders Private Limited [U70100MH2003PTC142172] · BD and P Hotels India Private Limited [U55101MH1997PTC107571] · Nihar Constructions Private Limited [U45400MH2007PTC170439] · DB (BKC) Realtors Private Limited [U70100MH2006PTC159708]

CAPITAL STRUCTURE

AS ON 27.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs. 10/- each	Rs. 5.000 Million
13,500,000	Preference Shares	Rs. 10/- each	Rs. 135.000 Million
	Total		Rs. 140.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million
13,500,000	Preference Shares	Rs. 10/- each	Rs. 135.000 Million
	Total		Rs. 135.100 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	135.100	135.100	135.100
(b) Reserves & Surplus	(264.570)	(294.086)	(164.306)
(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)	(129.470)	(158.986)	(29.206)
(3) Non-Current Liabilities
(a) Long-term borrowings	2200.194	1734.477	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	7.290
(d) long-term provisions	5.242	11.376	2.504
Total Non-current Liabilities (3)	2205.436	1745.853	9.794
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	210.348
(b) Trade payables	53.248	77.705	134.050
(c) Other current liabilities	5612.249	5013.963	3543.834
(d) Short-term provisions	1.548	0.844	0.158
Total Current Liabilities (4)	5667.045	5092.512	3888.390
TOTAL	7743.011	6679.379	3868.978
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	117.243	133.648	175.945
(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	699.600	699.600	699.600
(c) Deferred tax assets (net)	116.777	0.000	0.000
(d) Long-term Loan and Advances	702.928	702.928	701.138
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1636.548	1536.176	1576.683
(2) Current assets
(a) Current investments	9.967	10.095	0.000
(b) Inventories	2356.697	1963.730	1697.970
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	4.717	37.822	20.528
(e) Short-term loans and advances	3735.058	3131.535	573.776
(f) Other current assets	0.024	0.021	0.021
Total Current Assets	6106.463	5143.203	2292.295
TOTAL	7743.011	6679.379	3868.978

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	0.000	0.000
		Other Income	1.748	0.658
		TOTAL (A)	1.748	0.658	0.155
Less	EXPENSES
		Project Expenses	392.967	265.760
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(392.967)	(265.760)
		Employees benefits expense	8.760	17.072
		Other expenses	46.936	47.237
		TOTAL (B)	55.696	64.309	50.213
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(53.948)	(63.651)	(Including Financial and Depreciation Expenses)
Less	FINANCIAL EXPENSES (D)		0.212	0.000
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(54.160)	(63.651)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		33.101	66.129
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(87.261)	(129.780)	(50.058)
Less	TAX (H)		(116.777)	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		29.516	(129.780)	(50.058)
	Earnings/ (Loss) Per Share (Rs.)		2951.60	(12977.99)	(5005.83)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	2.068	0.000	0.000
Cash generated from operations	NA	NA	NA
Net Cash flow from (used in) Operating Activities	222.967	1109.388	582.083

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.00	0.00	NA
Operating Profit Margin (PBDIT/Sales)	(%)	0.00	0.00	NA
Return on Total Assets (PBT/Total Assets}	(%)	(1.26)	(2.17)	(1.58)
Return on Investment (ROI) (PBT/Networth)		0.67	0.82	1.71
Debt Equity Ratio (Total Liability/Networth)		(17.01)	(10.91)	(7.20)
Current Ratio (Current Asset/Current Liability)		1.08	1.01	0.59

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	135.100	135.100	135.100
Reserves & Surplus	(164.306)	(294.086)	(264.570)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(29.206)	(158.986)	(129.470)
Long-term borrowings	0.000	1734.477	2200.194
Short term borrowings	210.348	0.000	0.000
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000	2.068
Total borrowings	210.348	1734.477	2202.262
Debt/Equity ratio	-7.202	-10.910	-17.010

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)	Yes
16	No. of employees	Yes
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	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10523731	12/09/2014	3,954,600,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	C25541095
2	10496997	16/05/2014	10,090,000.00	ORIENTAL BANK OF COMMERCE	GOREGAON EAST BRANCH, RAJNIGANDHA SHOPPING CENTRE, GOKULDHAM, FILM CITY ROAD, GOREGAON EAST, MUMBAI, MAHARASHTRA - 400063, INDIA	C05301064
3	10413268	10/09/2015 *	4,500,000,000.00	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	RAMON HOUSE 169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA	C64293806
4	10392094	28/11/2012	610,000,000.00	RELIANCE CAPITAL LIMITED	"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA	B64194665

* Date of charge modification

CHANGE OF ADDRESS:

The Registered Office of the Company has been shifted from 702/703, Khatiza Apartment, B-Wing 313, Bazar Road, Near Jain Mandir, Bandra (West), Mumbai - 400050, Maharashtra, India to the present address w.e.f.27.07.2009.

COMPANY BACKGROUND

The Company has entered into a Development Agreement with Bhishma Realty Limited (the owner of the land) to develop the property admeasuring 24809 square meters of land at Prabhadevi, Dadar, Mumbai. In furtherance thereof the company has undertaken development of residential project in the name of “DB Crown”.

The company being a subsidiary of DB Realty Limited has become a “Public Company” with effect from 23^rd September, 2009.

STATUS OF PROJECTS

The Company is engaged in the business of real estate and construction and the Company is presently developing a residential project DB Crown at Prabhadevi and the Company is a wholly owned subsidiary of D B Realty Limited. The Company is in process of obtaining all pending approvals from statutory authority with regard to this Project and the project will commence in full scale thereafter. The Company follows Percentage Completion method for recognizing the revenue. However, since the threshold limit under the Percentage Completion method is not achieved so far, the Company has not recognised revenue from operations for the year ended 31.03.2014.

CONTINGENT LIABILITIES:

Particulars	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
Arrears of Dividend on 0.1% Redeemable Cumulative Preference Shares (RCPS)	0.348	0.213
The Company is a co-borrower of loan taken from Reliance Capital Limited by its Holding Company. In case of default by the holding company, the company is jointly and severally liable for repayment of the principal and interest amount.
Contingent liability in respect of above	610.000	610.000

FIXED ASSETS:

· Buildings

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

· Other equipments

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. 66.35
UK Pound	1	Rs. 100.28
Euro	1	Rs. 71.30

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	HNA
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	--
--CREDIT LINES	1~10	1
--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		13

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.