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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

497037

Report Date :

14.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

DEVBHUMI REALTORS PRIVATE LIMITED

 

 

Registered Office :

7, Chittaranjan Avenue, 3rd  Floor , Kolkata - 700072, West Bengal

Tel. No.:

91-33-22375402

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

09.01.2007

 

 

Com. Reg. No.:

21-112466

 

 

Capital Investment / Paid-up Capital :

INR 954.508 Million

 

 

CIN No.:

[Company Identification No.]

U45200WB2007PTC112466

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

TIN No.:

36516811522

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCD5238Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of development, sale, management and operation of all or any part of townships, housing projects, commercial premises and other real estate development related activities. (Registered Activity)

 

 

No. of Employees :

Information denied by the management

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Maximum Credit Limit :

USD 14000000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2007 and it is having satisfactory track records. It is engaged in real estate development.

 

As per Registrar Of Companies the date of balance sheet (i.e. financial filed) is shown as 31-03-2017 but the documents related to the financial for the year 2017 are not available from any sources.

 

As per available financials of 2016, the company has achieved decent revenue from its operations but reported losses.

 

However, rating takes into consideration sound financial profile of the company marked by healthy networth base and average debt balance sheet.

 

Further, the company also derives strength from its strategic location of the project ensure good revenue prospects and irrevocable and unconditional guarantee provided  from “Salarpuria Properties Private Limited” and “Sattva Developers Private Limited” to the company.

 

This rating strength is partially offset by high working capital requirements along with project execution risk and volatile and slowdown in the real estate industry.

 

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

 

In view of aforesaid, the company can be considered for normal 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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term rating: A(SO)

Rating Explanation

Adequate degree of safety and low credit risk.

Date

03.05.2017

 

 

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 31-03-2016.

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 14.03.2018

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

INFORMATION DENIED

 

Management Non-Cooperative (91-80-42699000/91-33-22375402)

 

 

LOCATIONS

 

Registered Office :

7, Chittaranjan Avenue, 3rd  Floor , Kolkata - 700072, West Bengal, India

Tel. No.:

91-33-22375402

Fax No.:

Not Available

E-Mail :

cs.sgroup2013@gmail.com

Website :

www.sattvagroup.com

 

 

Corporate Office :

3, 4th Floor, Salarpuria Windsor, Ulsoor Road, Sivanchetti Gardens, Bangalore  -560042, Karnataka, India

Tel. No.:

91-80-42699000

Fax No.:

91-80-42699011

 

 

Branch Office :

Cyber Park, Sy No.67/P, Adj to Shilparamam, Hi-Tech City, Madhapur, Hyderabad-500081, Telangana, India

Tel. No.:

91-40-23117211

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Apurva Salarpuria

Designation :

Director

Address :

574, Block 'N', New Alipore, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

04.10.1982

Qualification :

Chartered Accountant

Date of Appointment :

20.02.2007

DIN No.:

00058357

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U45201WB1998PTC150235

SALARPURIA MANAGEMENT PRIVATE LIMITED

25/08/2006

-

U72900KA2004PTC033142

QUADRO INFO TECHNOLOGIES PRIVATE LIMITED

25/08/2006

-

U05190KA2004PTC034678

SPRING LEAF RETAIL PRIVATE LIMITED

30/09/2006

-

U45400WB2007PTC116032

CHOWRINGHEE RESIDENCY PRIVATE LIMITED

11/12/2017

-

L51909WB1981PLC034018

MANDYA FINANCE COMPANY LTD

26/09/2008

-

L51109WB1982PLC034938

EASUN CAPITAL MARKETS LTD

18/09/2008

-

U45201WB1982PTC034519

H G C BUILDERS PVT LTD

28/12/2010

-

L74140WB1983PLC035792

MERLIN INDUSTRIAL DEVELOPMENT LTD

19/09/2008

-

U70109WB2006PTC111280

SHUBHADRA REALTORS PRIVATE LIMITED

24/08/2006

-

U99999WB1983PTC035701

SALARPURIA INVESTMENT PVT LTD

17/03/2008

-

U51399WB1983PTC035768

SALARPURIA PROPERTIES PVT LTD

31/08/2012

-

U45400WB2007PTC115974

BENGAL SALARPURIA EDEN INFRASTRUCTURE DEVELOPMENT COMPANY PRIVATE LIMITED

07/03/2008

-

U70109WB2007PTC120636

GREENAGE GRIHA NIRMAN PRIVATE LIMITED

15/12/2007

-

U45201WB2000PTC092649

SALARPURIA GRIHA NIRMAN PRIVATE LIMITED

25/08/2006

-

U45400WB2008PTC121484

MADMAHESHWAR REALTORS PRIVATE LIMITED

17/03/2008

-

U45400WB2008PTC121483

PANCHAKEDAR REALTORS PRIVATE LIMITED

17/03/2008

-

U55101WB2008PTC131397

EXPRESS MEALS PRIVATE LIMITED

22/12/2008

-

U70109WB2008PLC129727

SOFTZONE TECH PARK LIMITED

29/09/2008

-

U55101WB2005PTC106405

SPPL HOTELS PVT LTD

29/11/2005

-

U70100WB2008PTC125454

KRISHNABHAKTA GRIHA NIRMAN PRIVATE LIMITED

14/05/2008

-

U45400WB2006PTC108572

SAVITRIMATA REALTORS PVT LTD

16/03/2006

-

U74140WB2004PTC100919

S.P.P.L. PROPERTY MANAGEMENT PRIVATE LIMITED

17/02/2006

-

U70101WB2006PTC108570

HARAPARVATI REALTORS PVT LTD

04/05/2006

-

U45201WB2005PTC102967

RAJLAXMI GRIHA NIRMAN PRIVATE LIMITED

07/04/2012

-

U55101WB1961NPL025187

HOTEL & RESTAURANT ASSOCIATION OF EASTERN INDIA

02/09/2015

-

 

                              

Name :

Mr. Bijay Kumar Agarwa

Designation :

Director

Address :

158, Salarpuria Residency, 04, MN Indiranagar, Bangalore – 560038, Karnataka, India

Date of Birth/Age :

02.02.1963

Qualification :

B.Com

Date of Appointment :

20.02.2007

DIN No.:

00088987

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U70109WB2008PLC129727

SOFTZONE TECH PARK LIMITED

30/09/2009

-

U45201WB1998PTC150235

SALARPURIA MANAGEMENT PRIVATE LIMITED

03/12/1998

-

U45201WB1982PTC034519

H G C BUILDERS PVT LTD

01/09/1989

-

U70109WB2006PTC111280

SHUBHADRA REALTORS PRIVATE LIMITED

24/08/2006

-

U45201KA2007PTC044731

DARSHITA INFRASTRUCTURE PRIVATE LIMITED

10/02/2018

-

U70102KA2007PLC044240

SATTVA REALTORS LIMITED

29/10/2007

-

U70109WB2007PTC120636

GREENAGE GRIHA NIRMAN PRIVATE LIMITED

15/12/2007

-

U70109WB2006PTC165835

FABWORTH PROMOTERS PRIVATE LIMITED

19/08/2010

-

U45400WB2007PTC116032

CHOWRINGHEE RESIDENCY PRIVATE LIMITED

30/09/2010

-

U67120WB1996PTC081568

RITZ CREDIT PROMOTION PRIVATE LIMITED

19/07/2004

-

U45400WB2007PTC114847

CHRISTMAS REALTORS PRIVATE LIMITED

26/07/2017

-

U70101WB2004PTC097736

SATTVA DEVELOPERS PRIVATE LIMITED

30/01/2004

-

U55101WB2005PTC106405

SPPL HOTELS PVT LTD

27/09/2014

-

U45201WB2004PTC100344

DAKSHINABARTO GRIHA NIRMAN PRIVATE LIMITED

29/11/2004

-

U80301KA2011NPL060046

REARING EDUCATIONAL SERVICES

19/08/2011

-

U70101DL2011PTC223112

WORLDWIDE REALCON PRIVATE LIMITED

22/02/2018

-

U74140WB2004PTC100919

S.P.P.L. PROPERTY MANAGEMENT PRIVATE LIMITED

22/03/2005

-

 

 

Name :

Mr. Mahesh Kumar Khaitan

Designation :

Director

Address :

Salarpuria Splender, B 702 No.20, Nanjareddy Colony, Bangalore – 560017, Karnataka, India

Date of Birth/Age :

20.09.1965

Qualification :

B.Com

Date of Appointment :

20.02.2007

DIN No.:

00273737

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U45200KA2006PTC040681

MINDCOMP TECH PARK PRIVATE LIMITED

09/03/2012

-

U70109WB2006PTC111279

RAJMATA REALTORS PRIVATE LIMITED

28/08/2006

-

U70102KA2015PTC084676

DARSHITA HAPPY HOMES PRIVATE LIMITED

24/11/2016

-

U70100KA2016PTC086897

DARSHITA PROJECTS PRIVATE LIMITED

30/09/2017

-

U70100KA2014PTC072919

POORNA BUILD-TECH PRIVATE LIMITED

27/03/2015

-

U70101DL2011PTC223112

WORLDWIDE REALCON PRIVATE LIMITED

30/09/2017

-

U45205KA2011PTC058638

NEELANCHAL CON-TECH PRIVATE LIMITED

27/03/2015

-

U45400KA2011PTC056759

SATTVA BUILDCON PRIVATE LIMITED

31/03/2015

-

U70100WB2010FTC221064

MINDCOMP PROPERTIES PRIVATE LIMITED

29/09/2017

-

U70109WB2008PLC129727

SOFTZONE TECH PARK LIMITED

30/09/2009

-

U45201KA2007PTC044731

DARSHITA INFRASTRUCTURE PRIVATE LIMITED

30/09/2017

-

U70102KA2007PLC044240

SATTVA REALTORS LIMITED

18/01/2008

-

U70102KA2007PTC044239

SATTVA HOUSING PRIVATE LIMITED

29/09/2017

-

U70100KA2004PTC098521

DARSHITA SOUTHERN INDIA HAPPY HOMES PRIVATE LIMITED

12/08/2016

-

U70100KA2004PTC098520

DARSHITA INDIA HAPPY HOMES PRIVATE LIMITED

12/08/2016

-

U45201WB2005PTC102967

RAJLAXMI GRIHA NIRMAN PRIVATE LIMITED

12/07/2005

-

U45201WB2004PTC100344

DAKSHINABARTO GRIHA NIRMAN PRIVATE LIMITED

29/11/2004

-

U70101WB2004PTC097736

SATTVA DEVELOPERS PRIVATE LIMITED

30/04/2008

-

U51399WB1983PTC035768

SALARPURIA PROPERTIES PVT LTD

07/06/2001

-

U45201WB1998PTC150235

SALARPURIA MANAGEMENT PRIVATE LIMITED

21/02/2000

-

 

 

Name :

Tuhin Arvind Parikh

Designation :

Nominee Director

Address :

Du P1, Takshshila, Tagore Road, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Appointment :

07.01.2016

DIN No.:

00544890

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U45200PN2005PTC139812

PANCHSHIL TECHPARK PRIVATE LIMITED

31/08/2016

-

U70101MH2004PTC146227

NEWFOUND PROPERTIES AND LEASING PRIVATE LIMITED

30/03/2017

-

U67190MH2005PTC156325

BLACKSTONE ADVISORS INDIA PRIVATE LIMITED

27/09/2012

-

U01111WB2006PTC109769

NEWTON FARMS PRIVATE LIMITED

05/12/2008

-

U45201PN2004PTC142053

EON KHARADI INFRASTRUCTURE PRIVATE LIMITED

21/03/2013

-

U45202MH2002PTC136743

SUMANGAL BHAVAN PRIVATE LIMITED

06/08/2002

-

U70100KA2014PTC073362

EMBASSY OFFICE PARKS MANAGEMENT SERVICES PRIVATE LIMITED

30/09/2015

-

U70102PB2012PTC045658

EUTHORIA DEVELOPERS PRIVATE LIMITED

06/09/2016

-

U70100KA2012PTC065183

EMBASSY OFFICE PARKS PRIVATE LIMITED

31/07/2013

-

U45201MH2006PTC166500

SRP PROPERTIES (INDIA) PRIVATE LIMITED

11/01/2011

-

U45201DL2005PTC140977

RUCHI MALLS PRIVATE LIMITED

22/08/2016

-

U45202MH1990PTC057919

GIGAPLEX ESTATE PRIVATE LIMITED

30/03/2017

-

U74140KA2003PTC031477

SYNERGY PROPERTY DEVELOPMENT SERVICES PRIVATE LIMITED

24/04/2008

-

U45309KA2000PTC028147

GOLFLINKS SOFTWARE PARK PRIVATE LIMITED

07/03/2013

-

 

 

Name :

Mr. Vikas Khadloya

Designation :

Nominee Director

Address :

1-2-288/31, SBH Colony, Domalguda, Hyderabad – 500029, Telangana, India

Date of Appointment :

08.01.2016

DIN No.:

02042443

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U70101MH2007PTC302758

EARNEST TOWERS PRIVATE LIMITED

27/03/2017

-

U72300UP2007PTC075901

OXYGEN BUSINESS PARK PRIVATE LIMITED

26/07/2016

-

U45201MH2006PTC163110

HORIZONVIEW PROPERTIES PRIVATE LIMITED

30/03/2017

-

U63090DL2006PTC153134

DRS WAREHOUSING (NORTH) PRIVATE LIMITED

01/11/2014

-

U70102MH2010PTC204995

VIKHROLI CORPORATE PARK PRIVATE LIMITED

10/07/2015

-

U45201PB2003PTC045680

ALPHA CORP DEVELOPMENT PRIVATE LIMITED

06/05/2016

-

U72300UP2008PTC075357

STANDARD IT WEB SOLUTIONS PRIVATE LIMITED

09/01/2015

-

U70102MH2008PTC183176

KRC INFRASTRUCTURE AND PROJECTS PRIVATE LIMITED

30/03/2017

-

U70101PN2004PTC141178

QUADRON BUSINESS PARK PRIVATE LIMITED

19/09/2015

-

U70102KA2007PTC041347

PUNE-EMBASSY PROJECTS PRIVATE LIMTIED

31/03/2016

-

U70102KA2000PTC027477

MANYATA PROMOTERS PRIVATE LIMITED

15/09/2014

-

U99999UP1980PTC075285

GALAXY SQUARE PRIVATE LIMITED

29/09/2014

-

U22120MH1959PTC011302

INDIAN EXPRESS NEWSPAPERS (MUMBAI) PRIVATE LIMITED

15/09/2016

-

U60231TN1993PTC025583

A.S. CARRIERS PRIVATE LIMITED

10/02/2015

-

U45201PN2001PTC144404

PUNE INFOPORT PRIVATE LIMITED

11/02/2015

-

U45201KA2007PTC042777

EMBASSY OFFICE VENTURES PRIVATE LIMITED

30/09/2014

-

U72200PN1999PTC144498

QUBIX BUSINESS PARK PRIVATE LIMITED

29/09/2014

-

U74990PN1997PTC105549

BALEWADI TECHPARK PRIVATE LIMITED

02/12/2015

-

 

 

Name :

Mr. Vikram Garg

Designation :

Nominee Director

Address :

573, Block N, New Alipore, Kolkata – 700053, West Bengal, India

Date of Appointment :

07.01.2016

DIN No.:

02782693

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U45201MH2016FTC282287

WESTERLY RETAIL PRIVATE LIMITED

10/06/2016

-

U45201DL2005PTC140977

RUCHI MALLS PRIVATE LIMITED

19/11/2015

-

U45200MH2008PTC178050

INDORE TREASURE ISLAND PRIVATE LIMITED

24/06/2017

-

U70101MH2007PTC302758

EARNEST TOWERS PRIVATE LIMITED

27/03/2017

-

U70101PN2004PTC141178

QUADRON BUSINESS PARK PRIVATE LIMITED

19/09/2015

-

U74999MP1959PTC000882

KALANI BROTHERS (INDORE) PRIVATE LIMITED

24/06/2017

-

U72300UP2007PTC075901

OXYGEN BUSINESS PARK PRIVATE LIMITED

09/01/2015

-

U70101CH2006PTC029576

CSJ INFRASTRUCTURE PRIVATE LIMITED.

18/07/2017

-

U99999UP1980PTC075285

GALAXY SQUARE PRIVATE LIMITED

29/09/2014

-

U45201MP2002PTC014963

PADMA HOMES PRIVATE LIMITED

24/06/2017

-

U45200PN2005PTC139812

PANCHSHIL TECHPARK PRIVATE LIMITED

30/09/2014

-

U70101MH2005PTC153688

NAMAN MALL MANAGEMENT COMPANY PRIVATE LIMITED

24/06/2017

-

U45201PN2002PTC143638

ICC REALTY (INDIA) PRIVATE LIMITED

05/10/2017

-

U63090DL2006PTC153134

DRS WAREHOUSING (NORTH) PRIVATE LIMITED

29/09/2016

-

U70102PB2012PTC045658

EUTHORIA DEVELOPERS PRIVATE LIMITED

06/09/2016

-

U74140DL2010PTC208877

LIVIANO LIGHTING SYSTEMS PRIVATE LIMITED

29/09/2010

-

U72200PN1999PTC144498

QUBIX BUSINESS PARK PRIVATE LIMITED

29/09/2014

-

U70101UP2009PTC075358

AACHVIS IT SEZ INFRA PRIVATE LIMITED

09/01/2015

-

U70109MH1995PTC094686

CHITRALI PROPERTIES PRIVATE LIMITED

30/08/2017

-

U45201KA2007PTC042777

EMBASSY OFFICE VENTURES PRIVATE LIMITED

30/09/2014

-

U45200WB2007PTC112466

DEVBHUMI REALTORS PRIVATE LIMITED

08/01/2016

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Aditya Purohit

Designation :

Company Secretary

Address :

C-1 401, Subash Nagar, Housing Complex, Rishra Kolkata – 712249, West Bengal, India

Date of Appointment :

01.04.2016

PAN No.:

BBFPP9968R

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders (Equity Shares)

 

No. of Shares

Salarpuria Properties Private Limited

 

28635238

Sattva Developers Private Limited

 

19090158

Brep Asia SBS DRPL Holding NQ Limited

 

90106

Brep VIII SBS DRPL Holding NQ Limited

 

37226

Brep Asia SG DRPL Holding NQ Pte Limited

 

47598064

Total

 

95450792

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2017

 

Category

Percentage

Promoters- Body corporate

50.00

Public/Other than promoters - Body corporate

50.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of development, sale, management and operation of all or any part of townships, housing projects, commercial premises and other real estate development related activities. (Registered Activity)

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Real Estate Activities

70

 

 

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 :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

The Jammu and Kashmir Bank Limited

Branch :

No. 70/1, Ground Floor, 'Brownamma Towers', 2nd Cross, Mission Road, Bangalore - 560027, Karnataka, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

  • State Bank of India, Commercial Branch (04196), 1st Floor, Krishi Bhavan, Hudson Circle, Bangalore - 560001, Karnataka, India

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2016

As on

31.03.2015

LONG TERM BORROWING

 

 

Rupee term loans from banks

1946.580

0.000

Working capital loans from banks

1245.552

0.000

SHORT TERM BORROWING

 

 

Working capital loans from banks

929.321

1971.034

Total

4121.453

1971.034

 

 

Auditors :

 

Name :

S.R. Batliboi and Associates LLP

Chartered Accountants

Address :

12Th and 13Th Floor, "Ub City" Canberra BlockNo.24 Vittal Mallya Road, Bangalore, Karnataka, India

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

AABFF3421N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprise having Significant influence (AS ON 31.03.2016):
  • Beetle Realestate Private Limited
  • Bhojeshwar Realtors Private Limited
  • BREP Asia SBS DRPL Holding (NQ) Limited [w.e.f January 07, 2016]
  • BREP Asia SG DRPL Holding (NQ) Pte Limited [w.e.f January 07, 2016]
  • BREP VIII SBS DRPL Holding (NQ) Limited [w.e.f January 07, 2016]
  • Darshita Buildtech Private Limited [upto August 28, 2015]
  • Horizon Ventures VI [upto February 24, 2015]
  • Greenage Griha Nirman Private Limited
  • Rajlaxmi Griha Nirman Private Limited
  • Salarpuria Properties Private Limited *
  • Sattva Developers Private Limited
  • SPPL Property Management Private Limited

* Holding Company under the provisions of Companies Act 2013 and holding Company under Accounting Standards notified by Companies (Accounting Standards) Rules, 2006 (as amended) between period February 25,2015 to January 7,2016

 

 

CAPITAL STRUCTURE

 

AS ON 29.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

195000000

Equity Shares Class A

INR 10/- each

INR 1950.000 Million

195000000

Equity Shares Class B

INR 10/- each

INR 1950.000 Million

203731520

Equity Shares Class C

INR 10/- each

INR 2037.315 Million

 

Total

 

INR 5937.315 Million

 

Issued Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

42759840

Equity Shares Class A

INR 10/- each

INR 427.598 Million

22690952

Equity Shares Class B

INR 10/- each

INR 226.910 Million

30000000

Equity Shares Class C

INR 10/- each

INR 300.000 Million

 

 

 

 

 

Total

 

INR 954.508 Million

 

AS ON 29.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

541040668

Equity Shares Class A

INR 10/- each

INR 5410.407 Million

22690952

Equity Shares Class B

INR 10/- each

INR 226.909 Million

30000000

Equity Shares Class C

INR 10/- each

INR 300.000 Million

 

 

 

 

 

Total

 

INR 5937.316 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

42759840

Equity Shares Class A

INR 10/- each

INR 427.598 Million

22690952

Equity Shares Class B

INR 10/- each

INR 226.910 Million

30000000

Equity Shares Class C

INR 10/- each

INR 300.000 Million

 

 

 

 

 

Total

 

INR 954.508 Million

 

 

FINANCIAL DATA

[all figures are INR Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2016

31.03.2015

31.03.2014

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

954.508

5162.280

5162.280

(b) Reserves and Surplus

4098.837

(29.660)

(27.790)

(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)

5053.345

5132.620

5134.490

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

3192.132

0.000

0.000

(b) Deferred tax liabilities (Net)

7.401

0.000

0.000

(c) Other long-term liabilities

381.936

252.496

252.496

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

3581.469

252.496

252.496

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

929.321

1971.034

777.449

(b) Trade payables

408.586

42.128

78.821

(c) Other current liabilities

304.503

39.005

57.081

(d) Short-term provisions

0.278

0.000

0.000

Total Current Liabilities (4)

1642.688

2052.167

913.351

 

 

 

 

TOTAL

10277.502

7437.283

6300.337

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3913.721

0.570

0.762

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Tangible assets 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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term loans and advances

28.195

8.353

34.993

(e) Other Non-current assets

149.689

9.131

267.438

Total Non-Current Assets

4091.605

18.054

303.193

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

5808.157

7389.365

5846.180

(c) Trade receivables

0.000

0.000

0.000

(d) Cash and bank balances

38.336

0.832

31.859

(e) Short-term loans and advances

339.404

29.032

106.557

(f) Other current assets

0.000

0.000

12.548

Total Current Assets

6185.897

7419.229

5997.144

 

 

 

 

TOTAL

10277.502

7437.283

6300.337

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

Income

220.975

0.000

0.000

 

Other Income

5.704

20.512

22.331

 

TOTAL

226.679

20.512

22.331

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

0.000

182.181

4.562

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(1275.408)

(1541.345)

(708.559)

 

Employee benefit expense

5.296

0.000

0.000

 

Expenditure on production, transportation and

Other expenditure pertaining to exploration

and production activities

0.000

0.000

584.255

 

CSR expenditure

0.000

0.000

0.000

 

Other expenses

1217.288

1171.622

91.710

 

TOTAL

(52.824)

(187.542)

(28.032)

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

279.503

208.054

50.363

 

 

 

 

 

Less

FINANCIAL EXPENSES

200.357

209.381

53.548

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

79.146

(1.327)

(3.185)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

151.356

0.399

0.153

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(72.210)

(1.726)

(3.338)

 

 

 

 

 

Less

TAX

7.401

0.000

(0.067)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

(79.611)

(1.726)

(3.271)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE

BROUGHT FORWARD

(29.660)

(27.934)

NA

 

 

 

 

 

 

Balance Carried to the B/S

(109.271)

(29.660)

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(0.83)

NA

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2016

31.03.2015

31.03.2014

Current Maturities of Long term debt

3.210

0.000

0.000

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

 

Net cash flows from (used in) operations

(488.440)

(1267.757)

(468.907)

 

 

 

 

Net cash flows from (used in) operating activities

(509.960)

(1267.627)

(471.039)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

0.00

0.00

0.00

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

0.00

0.00

0.00

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

0.00

84.40

6306.37

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.05

0.03

0.01

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.07

365.01

66.09

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.47

0.28

0.14

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.82

0.38

0.15

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.33

0.40

0.18

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.77

0.00

0.00

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.40

0.99

0.94

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

Net Profit Margin

((PAT / Sales) * 100)

%

(36.03)

0.00

0.00

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

(0.77)

(0.02)

(0.05)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(1.58)

(0.03)

(0.06)

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

3.77

3.62

6.57

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.23

0.01

0.17

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.49

0.69

0.81

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

4.32

0.38

0.15

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

3.77

3.62

6.57

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2014

31.03.2015

31.03.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Share Capital

5162.280

5162.280

954.508

Reserves & Surplus

(27.790)

(29.660)

4098.837

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

5134.490

5132.620

5053.345

 

 

 

 

Long-term borrowings

0.000

0.000

3192.132

Short term borrowings

777.449

1971.034

929.321

Current maturities of long-term debts

0.000

0.000

3.210

Total borrowings

777.449

1971.034

4124.663

Debt/Equity ratio

0.151

0.384

0.816

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Total Income 

22.331

20.512

226.679

 

 

(8.146)

1,005.104

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Total Income 

22.331

20.512

226.679

Profit

(3.271)

(1.726)

(79.611)

 

(14.65%)

(8.41%)

(35.12%)

 

 

 

 

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

No

8

Designation of contact person

No

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

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

No

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

Yes

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

 

 

BACKGROUND (AS ON 31.03.2016)

 

Subject was incorporated on January 09, 2007, and is engaged in the business of development, sale, management and operation of all or any part of townships, housing projects, commercial premises and other real estate development related activities.

 

FINANCIAL PERFORMANCE, REVIEW OF OPERATIONS AND FUTURE OUTLOOK (AS ON 31.03.2016)

 

FINANCIAL PERFORMANCE:

 

The Company recorded operating revenues of INR 220.970 Million in FY 2015-16, compared to Nil in FY 2014-15; consequently, the Net Operating Income or PBITDA increased to INR 279.500 Million in FY 2015-16, an increase of 34% compared to INR 208.050 Million in FY 2014-15. Net loss after tax for FY 2015-16 stood at INR 79.610 Million as against loss after tax at INR. 1.730 Million for FY 2014-15.

 

The increase in operating revenues was due to full occupancy of the newly constructed 0.9mn sf Phase I.

 

REVIEW OF OPERATIONS (AS ON 31.03.2016):

 

FY 2015-16 has been a rewarding year for the Company. The Company completed construction of Phase I Built-To-Suit (BTS) campus for a multinational tenant within desired timelines and budget. Phase I become operational from October 2015 and started generating competitive revenues. Construction of Phase III with a strong anchor was also initiated concurrently with Phase I completion with pre-leasing negotiations and sturdy pipelines.

 

The Company also continued its focus on constructing and developing the park as outlined below:

 

Plan finalized and application made for SEZ approval for Phase II Appointed H* Architects for master planning of the park Awarded civil and structural works, PHE works, electrical and fire-fighting work contracts to reputed vendors and sub-contractors.

 

FUTURE OUTLOOK (AS ON 31.03.2016)

 

They believe that Hyderabad already has a strong footing with the right infrastructure in place. This, coupled with proactive policies and an array of incentives offered by the state government, will make the city a prime destination for IT/ITeS development in the near future.

 

The Company has been able to achieve excellent momentum with all new leases being signed at better than market rates. The Company is currently targeting to capture opportunities by additional development to uphold its position in market.

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

G68848175

100131045

THE JAMMU AND KASHMIR BANK LIMITED

09/10/2017

25/11/2017

-

4500000000.0

NO. 70/1, GROUND FLOOR, 'BROWNAMMA TOWERS',2ND CROSS, MISSION ROAD, BANGALOREBANGALOREKA560027IN

2

G53623989

10597550

STATE BANK OF INDIA

15/09/2015

08/09/2017

-

14250000000.0

COMMERCIAL BRANCH (04196), 1ST FLOOR,KRISHI BHAVAN, HUDSON CIRCLEBANGALOREKA560001IN

3

C63825582

10541317

BANK OF MAHARASHTRA

30/12/2014

05/01/2015

11/09/2015

3500000000.0

CORPORATE FINANCE BRANCH, NO. 29, KORAMANGALA, 4THBLOCK, 80 FT. ROADBANGALOREKA560034IN

 

 

FIXED ASSETS:

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer 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 records 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 records 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

INR

US Dollar

1

INR 64.96

UK Pound

1

INR 90.23

Euro

1

INR 80.09

 

 

INFORMATION DETAILS

 

Information Gathered by :

SAV

 

 

Analysis Done by :

PSD

 

 

Report Prepared by :

KVT

 

 

SCORE FACTORS

 

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

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.