MIRA INFORM REPORT

Report No. :	508397
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	EXPERION DEVELOPERS PRIVATE LIMITED (w.e.f. 23.01.2012)
Formerly Known As :	GOLD DEVELOPERS PRIVATE LIMITED (w.e.f. 22.03.2007) M R M PROPERTY PRIVATE LIMITED
Registered Office :	F-9, First Floor, Manish Plaza 1, Plot No. 7, MLU, Sector 10, Dwarka, New Delhi – 110075
Tel. No.:	91-124-4422630
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	27.07.2006
Com. Reg. No.:	55-151343
Capital Investment / Paid-up Capital :	INR 20.568 Million
CIN No.: [Company Identification No.]	U70109DL2006FTC151343
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	07AACCG8138L1ZA
TIN No:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCG8138L
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in the business of construction-development projects which includes townships, group housing, commercial premises, hotels, resorts, recreational facilities and regional level infrastructure. [Registered Activity]
No. of Employees :	Information denied by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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 32000000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Experion Developers Private Limited (EDPL) is a wholly-owned subsidiary of Singapore-based Experion Holdings Private Limited (EHPL), which is part of AT Holdings Group and was incorporated in the year 2006. For the financial year 2017, the company has reported marginal decline in its revenue as compared to its previous year and has incurred heavy operational loss during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its established track record of its business operations backed by its well – experienced management team along with strong financial support and regular equity infusion from its holding entity. However, these rating strengths gets partially offset by its heavy losses incurred during the year due to slowdown in the infrastructure and real estate sector. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing a 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	CARE
Rating	Long Term Rating = BBB-
Rating Explanation	Moderate degree of safety and carry moderate credit risk.
Date	05.04.2018

Rating Agency Name	CARE
Rating	Short Term Rating = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	05.04.2018

Reason for withdrawn: no objection certificate (NOC) received from the banks that have extended the facilities rated by CARE.

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 31-03-2018.

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 14.05.2018

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 BY

Name :	Mr. Sanjeev
Designation :	Senior Vice President
Contact No.:	91-8130393139
Date :	10.05.2018

Incorrect number (91-124-4422636)

LOCATIONS

Registered Office :	F-9, First Floor, Manish Plaza 1, Plot No. 7, MLU, Sector 10, Dwarka, New Delhi – 110075, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	accounts@experion.net.in
Website :	www.experion.co
Head / Corporate Office	First Floor, Block-B, First India Palace, Sushant Lok-1, M. G. Road, Gurugram – 122002, Haryana, India
Tel. No.:	91-124-4422630
Fax No.:	91-124-4422659
Sales Office:	Windchants, Sector-112, Gurugram, Haryana, India
Overseas Sales Office :	#16-04/05, Samsung Hub, 3 Church Street, Singapore – 049483

DIRECTORS

As on 31.03.2017

Name :

Mr. Rakesh Kaul

Designation :

Managing Director

Address :

D-902, N.P.S.C. Society, Plot No. 5 Sector-2, Dwarka, South West Delhi – 110075, India

Date of Birth/Age :

23.12.1965

Qualification :

MBA (Marketing)

Date of Appointment :

17.07.2015

PAN No.:

AAUPK9002C

DIN No.:

00023017

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U45300DL2007PTC161841	EXPERION DEVELOPERS (INTERNATIONAL) PRIVATE LIMITED	29/06/2012	-

Name :

Mr. Arvind Tiku

Designation :

Director

Address :

C-1/7PDI, Sahara Grace, Behind Sahara Mall, Chakkarpur, Gurugram - 122001, Haryana, India

Date of Birth/Age :

22.02.1970

Qualification :

CA

Date of Appointment :

16.03.2007

PAN No.:

AONPT3527L

DIN No.:

00649116

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24111DL2005PTC141465	VITOL CARBON SOLUTIONS PRIVATE LIMITED	06/10/2005	-
U45300DL2007PTC161841	EXPERION DEVELOPERS (INTERNATIONAL) PRIVATE LIMITED	11/04/2007	-

Name :

Mr. Hemant Tikoo

Designation :

Director

Address :

C-1/7PD-1, Sahara Grace, Behind Sahara Mall, Chakkarpur, Gurugram – 122002, Haryana, India

Date of Birth/Age :

12.11.1976

Qualification :

Bachelor Degree in Computer Sciences and MBA

Date of Appointment :

30.09.2015

PAN No.:

ACDPT9343E

DIN No.:

01880241

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74140DL2015PTC289805	DRISHYA ENTERTAINMENT PRIVATE LIMITED	06/08/2015	-
U55101DL2006PTC151993	GOLD RESORTS AND HOTEL(GOA) PRIVATE LIMITED	27/09/2013	-
U74999DL2011PTC228318	AT CAPITAL ADVISORY INDIA PRIVATE LIMITED	01/08/2012	-
U70100DL2011PTC220252	CHERISH BUILDERS PRIVATE LIMITED	02/06/2011	-
U70109DL2011PTC220280	SPRING BUILDERS PRIVATE LIMITED	02/06/2011	-
U40106DL2010PTC275463	ORANGE RENEWABLE POWER PRIVATE LIMITED	30/09/2015	-
U55101DL2006PTC151768	GOLD RESORTS AND HOTEL (JAIPUR) PRIVATE LIMITED	27/09/2013	-
U55101DL2006PTC153513	GOLD RESORTS & HOTEL (CHANDIGARH) PRIVATE LIMITED.	27/09/2013	-
U45201DL2005PTC139378	LAND MARK DWELLERS PRIVATE LIMITED	24/07/2009	-
U45201DL2005PTC132378	LANDMARK INFRACON PRIVATE LIMITED	14/09/2009	-
U51109WB1996PTC076271	EXPERION CAPITAL PRIVATE LIMITED	29/07/2013	-

Name :

Mr. Sanjay Kumar Bakliwal

Designation :

Director

Address :

K-5/1, DLF Phase-II, Gurugram – 122002, Haryana, India

Date of Birth/Age :

08.12.1975

Qualification :

CA

Date of Appointment :

20.09.2013

PAN No.:

ACOPB9767B

DIN No.:

01942991

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U40106DL2010PTC275463	ORANGE RENEWABLE POWER PRIVATE LIMITED	28/09/2012	-
U74999DL2011PTC228318	AT CAPITAL ADVISORY INDIA PRIVATE LIMITED	22/10/2012	-
U51109WB1996PTC076271	KENWOOD COMMERCIAL PVT LTD	29/07/2013	-

Name :

Mr. Basavaraddi Krishnaraddi Malagi

Designation :

Director

Address :

Flat No - 611B, Central Park – 2, Opposite Raheja Mall, Sohna Road, Sector-48, Gurugram – 122001, Haryana, India

Date of Birth/Age :

22.07.1963

Qualification :

Certification Course in Business Management from NICMAR

Date of Appointment :

30.09.2014

PAN No.:

ACUPM1965C

DIN No.:

06572992

KEY EXECUTIVES

Name :	Manisha Gupta and Associates
Designation :	Company Secretary
Address :	WZ-1003, Rani Bagh, Delhi-t 10034, India
Tel. No:	91-11-45053912
Mob. No:	91- 9911662021, 9911433045
Email:	manisha.pcs@gmail.com
Name :	Mr. Sanjeev
Designation :	Senior Vice President

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
Experion Holdings Pte. Limited, Singapore	2056827
Suneet Puri (On behalf of the Experion Holdings Pte. Limited)	1
Total	2056828

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2017

Category	Percentage
Promoters [Bodies corporate]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in the business of construction-development projects which includes townships, group housing, commercial premises, hotels, resorts, recreational facilities and regional level infrastructure. [Registered Activity]

Products / Services :

Name and Description of main products / services	ITC Code
Multi-dwelling residential buildings	99531129

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 :	State Bank of India
Branch :	Overseas Branch, 9th Floor, Jawahar Vyapar Bhawan, 1 Tolstoy Marg, New Delhi – 110001, 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 :	--

Facilities :

SECURED LOANS	31.03.2017 INR In Million	31.03.2016 INR In Million
CURRENT BORROWINGS
Rupee term loans from banks	1524.829	2874.898
Total	1524.829	2874.898

Financial Institutions:	SBICAP Trustee Company Limited, 202, Maker Tower Ecuffe Parade, Mumbai-400005, Maharashtra, India
Auditors :
Name :	S.R. Batliboi and Company LLP Chartered Accountants
Address :	Golf View, Corporate Tower-B, Sector-42, Sector Road, Gurugram, Haryana, India
Tel. No.:	91-124-4644000
Fax No.:	91-124-4644050
PAN No.:	ACHFS9180N
Memberships :	Not Available
Collaborators :	Not Available
Holding company :	Experion Holdings Pte. Limited, Singapore
Subsidiaries :	· Experion Nirman Private Limited (U45400DL2007PTC162016) · Experion Real Estate Developers Private Limited (U45400DL2007PTC162017) · Experion Reality Private Limited (U45400DL2007PTC162002) · Mainage Facility Management Private Limited (w.e.f 13.01.16) (U74900DL2011PTC220276)
Fellow subsidiaries :	Experion Hospitality Private Limited (U55101DL2006PTC147123)
Company under common control	AT Capital Advisory India Private Limited (U74999DL2011PTC228318)

CAPITAL STRUCTURE

AS ON 30.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	INR 10/- each	INR 40.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2056828	Equity Shares	INR 10/- each	INR 20.568 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET (STANDALONE)

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	20.568	13.565	13.565
(b) Reserves & Surplus	11258.791	7775.696	7681.858
(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)	11279.359	7789.261	7695.423
(3) Non-Current Liabilities
(a) long-term borrowings	4075.994	3940.799	2155.594
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	23.673	14.262	12.653
Total Non-current Liabilities (3)	4099.667	3955.061	2168.247
(4) Current Liabilities
(a) Short term borrowings	1524.829	2874.898	3787.209
(b) Trade payables	441.450	295.643	237.981
(c) Other current liabilities	4237.196	4834.598	3742.431
(d) Short-term provisions	0.964	0.643	0.508
Total Current Liabilities (4)	6204.439	8005.782	7768.129
TOTAL	21583.465	19750.104	17631.799
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	31.186	41.751	54.845
(ii) Intangible Assets	4.153	6.203	5.941
(iii) Capital work-in-progress	0.000	0.000	30.304
(iv) Intangible assets under development	871.163	744.873	0.000
(b) Non-current Investments	1.600	1.600	1.100
(c) Deferred tax assets (net)	350.785	287.863	112.940
(d) Long-term Loan and Advances	0.000	0.000	231.636
(e) Other Non-current assets	120.721	90.952	0.000
Total Non-Current Assets	1379.608	1173.242	436.766
(2) Current assets
(a) Current investments	220.069	734.929	1649.484
(b) Inventories	12183.929	10217.863	8257.015
(c) Trade receivables	168.875	174.821	111.299
(d) Cash and cash equivalents	956.178	781.589	689.112
(e) Short-term loans and advances	0.000	0.000	6273.136
(f) Other current assets	6674.806	6667.660	214.987
Total Current Assets	20203.857	18576.862	17195.033
TOTAL	21583.465	19750.104	17631.799

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	2277.382	2346.343	4535.881
	Other Income	122.781	202.527	363.346
	TOTAL	2400.163	2548.870	4899.227
Less	EXPENSES
	Cost of Materials Consumed	2812.726	2696.455	1779.123
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1966.066)	(1731.867)	544.860
	Employees benefits expense	249.804	288.531	277.452
	Other expenses	469.297	291.754	412.066
	TOTAL	1565.761	1544.873	3013.501
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	834.402	1003.997	1885.726
Less	FINANCIAL EXPENSES	1084.523	867.251	628.871
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(250.121)	136.746	1256.855
Less	DEPRECIATION/ AMORTISATION	16.325	17.772	19.988
	PROFIT/ (LOSS) BEFORE TAX	(266.446)	118.974	1236.867
Less	TAX	(61.278)	42.379	428.929
	PROFIT/ (LOSS) AFTER TAX	(205.168)	76.595	807.938
	Earnings / (Loss) Per Share (INR)	(99.75)	56.46	595.60

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	(1645.510)	(805.031)	(1413.030)
Net cash flows from (used in) operating activity	((1684.280)	(887.914)	(1136.105)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	27.07	27.20	8.96
Account Receivables Turnover (Income / Sundry Debtors)	13.49	13.42	40.75
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	57.29	40.02	48.82
Inventory Turnover (Operating Income / Inventories)	0.07	0.10	0.23
Asset Turnover (Operating Income / Net Fixed Assets)	0.92	1.27	20.70

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.48	0.60	0.56
Debt Equity Ratio (Total Liability / Networth)	0.50	0.88	0.77
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.55	1.03	1.01
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.08	0.10	0.01
Interest Coverage Ratio (PBIT / Financial Charges)	0.77	1.16	3.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	(9.01)	3.26	17.81
Return on Total Assets ((PAT / Total Assets) * 100)	%	(0.95)	0.39	4.58
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(1.82)	0.98	10.50

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	3.26	2.32	2.21
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.29	1.04	1.15
G-Score Ratio Financial (Networth / Total Assets)	0.52	0.39	0.44
G-Score Ratio Debt (Debts / Equity Capital)	272.31	502.45	438.10
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	3.26	2.32	2.21

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	13.565	13.565	20.568
Reserves & Surplus	7681.858	7775.696	11258.791
Net worth	7695.423	7789.261	11279.359
long-term borrowings	2155.594	3940.799	4075.994
Short term borrowings	3787.209	2874.898	1524.829
Total borrowings	5942.803	6815.697	5600.823
Debt/Equity ratio	0.772	0.875	0.497

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	4535.881	2346.343	2277.382
		(48.272)	(2.939)

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	4535.881	2346.343	2277.382
Profit /(Loss)	807.938	76.595	(205.168)
	17.81%	3.26%	(9.01%)

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2017	31.03.2016
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	20.568	13.565
(b) Reserves & Surplus	11255.834	7772.412
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	11276.402	7785.977
(3) Non-Current Liabilities
(a) long-term borrowings	4075.994	3940.799
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	23.673	14.262
Total Non-current Liabilities (3)	4099.667	3955.061
(4) Current Liabilities
(a) Short term borrowings	1424.829	2874.898
(b) Trade payables	443.205	295.777
(c) Other current liabilities	4261.385	4834.767
(d) Short-term provisions	0.964	0.643
Total Current Liabilities (4)	6130.383	8006.085
TOTAL	21506.452	19747.123
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	31.186	41.751
(ii) Intangible Assets	4.153	6.203
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	871.164	744.873
(v) Goodwill	0.085	0.085
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	350.785	287.863
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	126.153	90.954
Total Non-Current Assets	1383.526	1171.729
(2) Current assets
(a) Current investments	220.069	734.929
(b) Inventories	12222.742	10256.675
(c) Trade receivables	168.875	174.821
(d) Cash and cash equivalents	985.700	785.317
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	6525.540	6623.652
Total Current Assets	20122.926	18575.394
TOTAL	21506.452	19747.123

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Income	2282.847	2346.343
	Other Income	123.343	203.228
	TOTAL	2406.190	2549.571
Less	EXPENSES
	Cost of Materials Consumed	2812.726	2696.455
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1966.066)	(1731.867)
	Employees benefits expense	249.804	288.531
	Other expenses	474.710	291.918
	TOTAL	1571.174	1545.037
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	835.016	1004.534
Less	FINANCIAL EXPENSES	1084.535	867.253
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(249.519)	137.281
Less	DEPRECIATION/ AMORTISATION	16.325	17.772
	PROFIT/ (LOSS) BEFORE TAX	(265.844)	119.509
Less	TAX	(61.003)	42.566
	PROFIT/ (LOSS) AFTER TAX	(204.841)	76.943
	Earnings / (Loss) Per Share (INR)	(99.59)	56.72

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	Yes
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	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OPERATIONS AND BUSINESS PERFORMANCE

There are four projects of the Company namely ‘Windchants’, ‘The Heartsong’,‘The Westerlies’ and ‘Milestone Experion Center’ which are already under development. While ‘Windchants’ and ‘The Heartsong’ are group housing projects located in Sector 112 and 108, Gurugram spread over 24 and 15 acres of land respectively, ‘The Westerlies’ is a plotted township project spread over 100 acres located in Sector 108, Gurugram and ‘Milestone Experion Center’ is a commercial/ office project development at Sector 15, Gurugram having built up area of 4.3 Lakh SFT. Projects are progressing well and the development works are in advanced stages. At ‘The Heartsong’ Group Housing project, three pockets comprising twelve residential towers and community building is completed and apartment units offered for possession. Further, work on residential project in Lucknow, having built up area of 9 Lakh SFT, is expected to start soon.

CORPORATE INFORMATION

The Company is a private limited company incorporated under the provisions of the Companies Act, 1956 having its registered office at F-9, First Floor, Manish Plaza 1, Plot No. 7, MLU, Sector 10, Dwarka, New Delhi – 110 075. The Company is engaged in the business of construction-development projects which includes townships, group housing, commercial premises, hotels, resorts, recreational facilities and regional level infrastructure.

The standalone financial statements are approved for issue by the Company’s Board of Directors on 25 September 2017.

UNSECURED LOANS:

PARTICULARS	31.03.2017 INR In Million	31.03.2016 INR In Million
NON-CURRENT BORROWINGS
Fully convertible debentures others	4075.994	3940.799
Total	4075.994	3940.799

INDEX OF CHARGES

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	C40159220	10542493	State Bank of India	20/12/2014	-	-	1000000000.0	Overseas Branch, 9th Floor, Jawahar Vyapar Bhawan,1 Tolstoy Marg,New DelhiDL110001IN
2	C04657011	10489379	SBICAP TRUSTEE COMPANY LIMITED	29/03/2014	29/03/2014	-	3750000000.0	202, Maker Tower ECuffe ParadeMumbaiMH400005IN

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipment

· Computer

· Vehicles

· Computer software

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 67.22
UK Pound	1	INR 90.88
Euro	1	INR 80.09

INFORMATION DETAILS

Information Gathered by :	AKY
Analysis Done by :	NSG
Report Prepared by :	MTN

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.