MIRA INFORM REPORT

Report No. :	345408
Report Date :	24.10.2015

IDENTIFICATION DETAILS

Name :	S.P. BUILDCON PRIVATE LIMITED

Registered Office :	F.F. – 06, Shyam Plaza, Pandari, Raipur – 492001, Chhattisgarh
Tel. No.:	91-771-2424100

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	09.06.2005

Com. Reg. No.:	10-017698

Capital Investment / Paid-up Capital :	Rs.3.800 Million

CIN No.: [Company Identification No.]	U04520CT2005PTC017698

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 :	Real Estate Developers.

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 99000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	SP Buildcon Private Limited is promoted by Mr. Sanjay Raheja and Mr. Prakash Raheja. It offers a sophisticated lifestyle including state-of-art modern facilities that has revolutionized the concept of modern lifestyle. The rating takes into account on company’s moderate scale of operation and financial risk profile, comfortable debt protection metrics along with sound profit margin in FY-2014. This rating strengths are partially offset by its modest, though improving, scale of operations in the highly competitive construction industry, geographical concentration in its revenue profile and limited track record of its operations. However, trade relations seems to be fair. Business is active. Payment terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some cautions.

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

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

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 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Sanjay Raheja
Designation :	Director
Contact No.:	91-9754510000 / 91-771-2424100
Date :	20.10.2015

LOCATIONS

Registered Office :	F.F. – 06, Shyam Plaza, Pandari, Raipur – 492001, Chhattisgarh, India
Tel. No.:	91-771-2424100
Mobile No.:	91-9754510000 (Mr. Sanjay Raheja)
Fax No.:	Not Available
E-Mail :	company_corporate@yahoo.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Prakash Chand Raheja

Designation :

Director

Address :

27/3 Jawahar Nagar, Near Agrasen Bhawan, Raipur - 492001, Chhattisgarh, India

Date of Birth/Age :

08.04.1950

Date of Appointment :

09.06.2005

DIN No.:

00341864

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	U15142CT1999PTC013456	VIJAYSHREE FATS AND OIL PRODUCTS PRIVATE LIMITED	Director	12/04/1999	12/04/1999	-	Active	NO
2	L15143CT1994PLC005981	SHREE RAJIV LOCHAN OIL EXTRACTION LIMITED	Managing director	01/10/2014	28/10/2004	-	Active	NO
3	U04520CT2005PTC017698	S. P. BUILDCON PRIVATE LIMITED	Director	09/06/2005	09/06/2005	-	Active	NO
4	U04010CT2005PTC017745	SHREE TIRUPATI BALAJI POWER AND STEEL PRIVATE LIMITED	Director	27/06/2005	27/06/2005	-	Active	NO
5	U13209CT2010PTC021688	Exotic Mining & Minerals Private Limited	Director	29/03/2010	29/03/2010	-	Active	NO

Name :

Mr. Sanjay Raheja

Designation :

Director

Address :

27/3 Jawahar Nagar, Near Agrasen Bhawan, Raipur - 492001, Chhattisgarh, India

Date of Birth/Age :

25.12.1984

Date of Appointment :

09.06.2005

DIN No.:

00285614

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	L15143CT1994PLC005981	SHREE RAJIV LOCHAN OIL EXTRACTION LIMITED	Director	06/09/2004	06/09/2004	-	Active	NO
2	U04520CT2005PTC017698	S. P. BUILDCON PRIVATE LIMITED	Director	09/06/2005	09/06/2005	-	Active	NO
3	U45201CT2010PTC022152	AMBIKA INFRA-ESTATES PRIVATE LIMITED	Director	08/11/2010	08/11/2010	-	Active	NO
4	U45400CT2012PTC000250	KACHNA INFRADEVELOPERS PRIVATE LIMITED	Director	19/03/2012	19/03/2012	01/03/2015	Active	NO
5	U70101CT2011PTC022506	AANYA BUILDTECH PRIVATE LIMITED	Director	17/09/2012	17/09/2012	18/09/2012	Active	NO
6	U45400DL2010PTC210077	COZY HABITAT BUILDERS PRIVATE LIMITED	Director	30/09/2014	06/02/2014	-	Active	NO
7	AAC-2647	FLORENCE INFRA DEVELOPERS LLP	Designated Partner	21/04/2014	21/04/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Prakash Chand Raheja	25500	6.71
Sanjay Raheja	190000	50.00
Dipak Raheja	71500	18.82
Sadhana Raheja	25000	6.58
Sunil Raheja	24000	6.32
Pinky Raheja	7000	1.84
Kaushalya Devi Raheja	14000	3.68
Shanti Devi Raheja	23000	6.05
Total	380000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Real Estate Developers.

Products :	Not Divulged

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

G.K. Contruction
Shri Madhav Industry
Aditya Enterprises
Balaji Steels Raipur
Ashish Dekate
B.S. Marketing
Deepak Enterprises
Eyes Entertainment
Lingraj Steel (P) Limited
Maa Kudargarhi Steels (P) Limited
Maa Vashnavi 3D
Raj traders
R.K. Bricks
Sainath Enterprises
Shiv Metal Works
Ravi Steel
Vishal traders

Customers :

Goel Tradecom (P) Limited
R.S.R. Infrastructure P Limited
Ishka Property Private Limited
Abis Export India Private Limited
Tirupati Buildcon Private Limited
Adhunik Deal Mark Private Limited
Gabrieal Tie Up Private Limited
M Y Poultry Farm Private Limited
Sun Tele Services

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Union Bank of India
Branch	Main Branch, Ramsagarpara, Raipur – 492001, Chhhattisgarh, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Car loan from HDFC Bank	1.316	0.000
(Term of Repayment-Repayable in 36 monthly installment starting from Feb 2014. Last Installment due I Jan 2017 Rate of Interest 13.51% p.a.)
(Less: Out of above, amount disclosed under the head other current liabilities Rs. 0.592)
Total	1.316	0.000

Auditors :
Name :	G.S. Agrawal and Company Chartered Accountants
Address :	Bagadia Mansion, Jawahar Nagar, Raipur – 492001, Chhattisgarh, India
Tel. No.:	91-771-2225211 / 2234278
E-Mail :	gsagrawalca@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAFFG2876F

Memberships :	Not Available

Collaborators :	Not Available

Enterprises over which KMP/relative of KMP is able to exercise significant influence :	Vijay Shree Fats and Oil Private Limited Shree Rajiv Lochan Oil Extraction Limited Tirupati Balaji Power and Steel Private Limited Om Plaza

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

500000	Equity Shares	Rs.10/- each	Rs.5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

380000	Equity Shares	Rs.10/- each	Rs.3.800 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	3.800	3.800	3.800
(b) Reserves & Surplus	25.086	22.335	21.892
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	5.800	0.000	0.000
Total Shareholders’ Funds (1) + (2)	34.686	26.135	25.692

(3) Non-Current Liabilities
(a) long-term borrowings	1.316	0.000	0.000
(b) Deferred tax liabilities (Net)	0.002	0.020	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1.318	0.020	0.000

(4) Current Liabilities
(a) Short term borrowings	27.608	26.720	0.866
(b) Trade payables	7.143	2.410	0.000
(c) Other current liabilities	207.417	82.295	0.064
(d) Short-term provisions	1.339	0.107	0.000
Total Current Liabilities (4)	243.507	111.532	0.930

TOTAL	279.511	137.687	26.622

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.925	0.981	0.000
(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	0.760	0.760	0.800
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	3.199	1.405	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	9.884	3.146	0.800

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	192.807	113.420	23.854
(c) Trade receivables	4.575	0.000	0.000
(d) Cash and cash equivalents	24.680	1.341	0.001
(e) Short-term loans and advances	47.565	19.780	1.967
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	269.627	134.541	25.822

TOTAL	279.511	137.687	26.622

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	43.694	0.000	0.000
	Other Income	0.384	0.648	0.000
	TOTAL (A)	44.078	0.648	0.000

Less	EXPENSES
	Construction and other direct Expenses		39.079	0.000
	Purchases of Land		50.487	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		(89.566)	0.000
	Employees benefits expense		0.000	0.000
	Other expenses		0.015	0.000
	TOTAL (B)	NA	0.015	0.013

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	NA	0.633	(0.013)

Less	FINANCIAL EXPENSES (D)	NA	0.000	0.000

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	NA	0.633	(0.013)

Less/ Add	DEPRECIATION/ AMORTISATION (F)	NA	0.070	0.000

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	NA	0.563	(0.013)

Less	TAX (H)	NA	0.120	0.000

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	2.750	0.443	(0.013)

	Earnings / (Loss) Per Share (Rs.)	7.24	1.17	(0.03)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.592	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	6.29	68.36	NA

Operating Profit Margin (PBIDT/Sales)	(%)	NA	97.69	NA

Return on Total Assets (PBT/Total Assets}	(%)	40.68	0.41	(0.05)

Return on Investment (ROI) (PBT/Networth)		3.27	0.02	0.00

Debt Equity Ratio (Total Debt /Networth)		0.85	1.02	0.03

Current Ratio (Current Asset/Current Liability)		1.11	1.21	27.77

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	3.800	3.800	3.800
Reserves & Surplus	21.892	22.335	25.086
Net worth	25.692	26.135	34.686

long-term borrowings	0.000	0.000	1.316
Short term borrowings	0.866	26.720	27.608
Current Maturities Of Long-Term Debts	0.000	0.000	0.592
Total borrowings	0.866	26.720	29.516
Debt/Equity ratio	0.034	1.022	0.851

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	No
18	Major suppliers	Yes
19	Major customers	Yes
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 two 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	No
35	Negative Reporting by Auditors in the Annual Report	No

FINANCIAL RESULTS AND BUSINESS PROSPECTS:

During the year the company has earned Total Revenue of Rs. 44.078 Million as compared to Rs. 0.648 Million and Net Profit after tax of Rs. 2.750 Million as compared to Rs. 0.443 Million in the preceding financial year. Looking revenue of the company and emerging opportunities in near future, the directors are hopeful for better performance in subsequent financial years. The financial results as reflected in the statement of Profit and Loss are self-explanatory.

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and advances from related parties	15.090	20.220
Others	12.518	6.500
Total	27.608	26.720

INDEX OF CHARGES : No Charges Exist for the company

FIXED ASSETS

Computer
Machinery
Vehicle

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. 64.89
UK Pound	1	Rs. 100.39
Euro	1	Rs. 73.52

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	KAS

Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.

MIRA INFORM REPORT

INDEX OF CHARGES : No Charges Exist for the company

Unit