Final Champalal Vardhan

M/S CHAMPALAL K .VARDHAN & CO

EXECUTIVE SUMMARY

Introduction:

PROFILE: Neelam Realtors Pvt. Ltd. is one of the most prominent builders in Mumbai, with a Thirty-Three year eminent history the company has made a mark across the metropolitan with its professional outlook and towering dreams. It has set bench marks for itself with every project that it endeavours and it ensures to make it better than the last. With various slum rehabilitation projects the company has catered quality to every strata of the society. Keeping in mind its aim and objective to enhance the lifestyle of anyone who lives within the walls of Neelam Realtors.

VISION: "To provide never before witnessed quality by working in tandem with nature to create green buildings for safe keeping of the future. To aid the growth of the country en bloc with primary focus in the markets which have high housing demand and less supply. Be the largest real estate company based out in India"

MANAGEMENT: 1. Champalal K Vardhan (Chairman and Managing Director) 2. Ummedraj K vardhan (Joint Managing Director) 3. Kunal C Vardhan (Joint Managing Director) 4. Karan C Vardhan (Executive Managing Director) 5. Lalit Jain (Senior Vice President) 6. Chandrakant Chheda (Senior Vice President) 7. Vijay Nair (Senior Vice President) 8. Kapil Mehta (Vice President)


PARTNERS:

Designing ArchitectsHafeez ContractorLokhandwala F.T.Skyline ArchitectsT. KhareghatDeepak Mehta

Advocate & SolicitorsKanga & Co.Shah & SanghaviVigil JurisMajmudar & Co.Kishore Thakordas & Co.Shelke & Co.

ElevatorsOtisSchindlerMitsubishiKone

Consulting ArchitectsSunil Ambre & Associates S.G. Dalvi & AssociatesHemant Parikh & Associates1 Architectural ConsultantsR.G. Chawla & Co.D O T ArchitectNalin Thakkar

Environmental ConsultantsGreen Circle (I) Pvt. Ltd.Building Environment (India) Pvt. Ltd.


Execution PartnersAluplex India Pvt. Ltd.Red Apple Infra ProjectsMakson Engineering & Co.Shree Khodiyar ImperialShreeji Facade Systems Pvt. Ltd.Kruti CreationsClassique Concepts

Service ConsultantsNat Engineering ConsultantsPvt. Ltd.Consistent EngineeringConsultantsJ.K. InfrastructureRumi. H. Barucha Consultants(P) Ltd.Sanelar Consultants (P) Ltd.

R.C.C. ConsultantsJ + W ConsultantsU.N. KamathJCV Consultants

SecurityGroup 4 SecurityVigilante Services Pvt. Ltd.

3DModeling and AnimationRendercad Pvt. Ltd.Xpressions Pixel Works PVT. LTD.Shekhar Patil & Associates

LandscapeAlpha Environs.Taib Landscape Studio Pvt. Ltd.

Lighting Shimera Project Lighting.Candle Light Company Pvt. Ltd.


HISTORY OF REAL ESTATE MUMBAI:

Mumbai is a mature and well-developed Real Estate market. It is a demand-motivated market; where the property is bought for current use and not with the aim to speculate and sell it in future. This has led to the burgeoning of the Mumbai Real Estate market. The spurt in demand as well as supply of Real Estate products and the consequent increase in capital values are encouraging High Net worth Investors (HNI) and other investors to make active investments in the Mumbai Real Estate market.

The investments made by the Investors and HNI's have showed an astonishing 50% increase per year. The rent collection of the Real Estate investments is at an attractive 11 to 12 percent per annum, thus translating into a gain of over 70% in two years, which is a stunner by any standards.

The most attractive sectors for investment are the commercial Real Estate sector. Another high paying sector is retail. The occupancy levels of most commercial buildings are at 90 to 95 percent. Commercial properties have shown capital appreciation in the region of 15% to 35% in values per year.

Land prices are expected to escalate by 5 to 10 percent in Mumbai according to the government authorities responsible for stamp duty and registration. Prices in south and central Mumbai are expected to move up the most.

In case of Residential property, maximum demand is found in the mid-level segment. The demands for 3BHK properties are also set to increase. This demand is due to factors like high disposable income and total greater affordability.

The demand for residential property can be sustained if the Indian economy remains stable and the interest rate low. Residential property has shown an appreciation of 15 to 20 percent over the last year. The rent takings have also increased by 20% over the same time period.

The consistent increase in demand for Mumbai Real Estate should help to stabilize the prices in the near future.

Metro lifestyles necessitate the need for owned homes in the apartment style. Mumbai is

actually developing to a hyper metro with the burgeoning real estate giving more news with its

fickle indications. Malls, hotels, restaurants, play parks, joggers track is expanding and the focus

is also in connecting the areas with skywalks and over bridges. A lot of effort is seen by the

government in developing barren land, waste land and converting dump yards into multiplexes

or huge multi facility complexes.


The trend is also seen in commoners availing housing loans with the relaxing done by the

finance ministry. Though the movement is getting busy than before people are still not very

keen in investing in property yet. The news is that recession trends predict further fall in rates

which will be beneficial for many salaried individuals. The NRI sector is also awaiting such

lowering of house rates so that they can do a confident investment.

The earlier homes in Mumbai as per the history were simple in their profile with minimal

facilities. One could also see a few bungalows or row houses which is also now sold out to

builders at booming rates and the skylines are now crowded with tall towers. Though there is

rapid urbanization Mumbai still has its heritage intact and that is seen with the vast

playgrounds. Many clubs are keen to develop land into golf clubs and recreation.

Malls and multiplexes are also growing at an alarming rate and the earlier system of shopping is

now being replaced with impulsive purchase. This shows a clear change in lifestyle by people

who also look out for super market amenities while purchasing a home. Modern complexes also

have a servant's toilet in each floor, state of art security system, modulated elevators and a

sound administration that renders the colony a sanitized look.

The market is showing scaling in terms of sale-purchase in seconds flats and there is more

interest in people looking for rented homes. The earlier stagnant market is now gearing for a

change with new constructions showing interesting amenities which are now getting affordable.


PROJECTS:

Completed Projects

Projects Location Total BUAVardhman Nagar Mulund (west) 230000Shree Vardhan Breach Candy 35000Neelam Centre Worli 110000Solaris Andheri (East) 435000Vardhman Industrial Estate Dahisar (West) 130000Shanti park Ghatkopar (East) 275000Neelam Apartment Bandra 49000Adarsh Nagar Thane 100000Jal Darshan Bandra (West) 28000Sanskriti Malad (East) 35000Sidhanchal Darshan Byculla 45000Shatrunjay Darshan Byculla 150000Arvind Kunj Tardeo 38000Adarsh Industrial Estate Andheri (East) 110000Angan Sion 35000Neelam Nagar Mulund (East) 1100000Jijamata Co-op Hsg. Soc. Ltd.

Race course 40000

Sumangal Mulund (East) 30000Sanskar Mulund (East) 200000Shree Vardhan Mulund (East) 35000Star Mall Dadar (West) 90000Atria Mall Worli 250000Sudha Park Ghatkopar (East) 400000Vardhman Estate Lalbaug 90000

Ongoing and Future Projects

Projects Location Total BUASpa Tower Mazgaon 300000Solstice (Kamraj Nagar) Ghatkopar (East) 6300000Spiro Tower Mulund (East) 45000Neelam Shankala Lower Parel 50000Neelam Heights Kemps Corner 75000Mahavir Heights Kemps corner 100000Neelam Unity Nana Chowk 200000Atria Annex Worli 400000Neelam Shankala Mahalaxmi 200000Saturnina Mulund (East) 400000Senroofs Nahur (East) 1500000Shree vardhan Annex Nepean Sea Road 250000


Spiro Annex Mulund (East) 100000

Brief Profile:

1st Company Name: M/S Champalal K Vardhan & Co

PAN No – AAAFC0338D

Constitution: Partnership Firm.

Date of Incorporation: 30/12/1998.

Address: Registered Office:

Champalal K. Vardhan & CO,

322, Commerce House, 140, N.M Road,

Fort, Mumbai - 400023.

Activity: Real Estate, Construction & Development.

Partners: Mr. Champalal Kishorechandra Vardhan

Pan No – AACPV5679G

Profit sharing ratio – 23%

Mr. Ummedraj Kishorechandra VardhanPan No – ABSPV4397G


Mr.Kunal Champalal VardhanPan No – AAAPV6964A


Mr. Karan Champalal VardhanPan No – ADMPV4311N



Credit Facilities: NIL

Type – General Current

Present Banker: Oriental bank of commerce

Fort, Mumbai-400001

Brief Profile of the Company:

Past Financial Performance:

M/S Champalal K Vardhan & Co

(In Rs. Lacs)

2nd Company Name: Neelam Finance (Bombay) Private Ltd.

2007-08 (Audited)

2008-09

(Audited)

2009-10

(Audited)

2010-11

Work in Progress (Project) 1905.15 2903.96 4610.70 --

PBT - 0.02965 0.02313 25.17

DEP 35.69 47.74 67.098 92.45

Interest paid 119.41 198.06 28.42 339.29


PAN No – AAACN6355J

Constitution: Private Ltd.

Directors: Mr. Champalal Kishorechandra Vardhan Pan No – AACPV5679G

Mr. Ummedraj Kishorechandra VardhanPan No – ABSPV4397G

Mr.Kunal Champalal VardhanPan No – AAAPV6964A

Mr. Karan Champalal VardhanPan No – ADMPV4311N

Date of Incorporation: 26/04/1996

Address: Registered Office:

313, Commerce House,

140, N.M Road, Fort,

Mumbai - 400023.

Credit Facilities: NIL

Type – General Current

Present Banker: Oriental bank of commerce

Fort, Mumbai - 400001.

Present proposal: 60 Cr.


Funding options LRD / Loan Against Property (Takeover from India bulls)

Loan Taken: INDIA BULLS

Name of the Borrower

Program ( LRD, TL, Auto Loan, Mortgage

etc)

Amount Sanctioned

Amount Disbursed

Rate of Interes

t

Disbursement Date

Maturity Date

Loan Tenor

M/s Champalal K. Vardhan & Company

Working Capital Requirement

450000000.0

150000000.0 16.0

26.10.2010

25.10.2015

5 years

SECURITY OFFERED:

STAR MALL Add : Final Plot No 103, 104, TPS IV , Mahim Division, Known as Star Mall,

situated at NC kelakar road Dadar (W) Mumbai – 400028 AREA : 65000 sqft Built up Name Of Property Owner/s : M/s Champalal K Vardhan & Co Type Of Property : Commercial

REVENUES:


Sr. No.

Project Name

Type Approx. Saleable

Area (Sq. Ft.)

Total

Units

Units Booke

d

Est. Sales Price per Sq. ft.

Est. Revenue

O/s Member

Coll.

Per month coll.

1

Solstice(Neelam Finance) Residential 6300000 1500

23 8000 178480000 135129000 3569600

2

Senroofs(Pioneer Housing) Residential

1500000

172 114 10000 13911600000164227532

695580000

3

Spiro(Star Premises) Residential

45000

16 2 10000 292580000 3000000 14629000

4

Sudha Park(Pioneer Costruct) Residential 400000 379 368 6000 2400000000 86212500 60000000

COSTS:

Sr. No.

Project Name

Type Approx. Saleable Area

Total

Units

Total Project Cost

Cost incurred till

date

Member Coll. Till date

Bal. Cost to be incurred

1 Solstice Resdtl 6300000 1500338610177 338610177

4335100018817830000

2 Senroofs Resdtl 150000 1723010000000 4406000000

247434492-1396000000

3 Spiro Resdtl

45000

16

11250000033419926

955000079100000

4Sudha Park Resdtl 400000 379

1000000000 9800000002376330000

20000000


MONTHLY RENTAL INCOME:

SR. NO OWNER NAME PARTY NAME

GROSS MONTHLY TDS 10%

Net Monthly Rental.

Agreeme

nt Date

Terminatio

n Date

RENTAL

1

CHAMPALAL K VARDHAN

M/S MSH SAREES PVT. LTD 131461.00 13146.1

118314.90

1/04/201

2

1/10/2014

MAJOR BRANDS (INDIA) PVT. LTD 241012.00 24101.2

216910.80

24/05/20

07

15/08/2015

SPORTS STATION INDIA PVT. LTD 136517.00 13651.7

122865.30

16/06/20

05

25/05/2014

TAN CLOTHING 25415.00 2452 22963.00

22/11/20

11

30/09/2014

2URMILA C VARDHAN

R.M.X JOSS 56180.00 5618 50562.00

12/07/20

10

31/05/2013

KRISHIV IMPEX PVT. LTD 13238.00 1323.8 11914.20

25/09/20

09

24/08/2013

FASHION BRANDS INDIA PVT .LTD 234832.00 23483.2

211348.80

24/05/20

07

22/02/2016

3 KUNAL C M/S LMG BRANDS 206923.00 20692.3 186230.7 1/05 01/05


VARDHAN

INDIA PVT.LTD 0/201

2/2015

FASHION BRANDS INDIA PVT. LTD 234832.00 23483.2

211348.80

24/05/20

07

22/02/2016

4KARAN C VARDHAN

MAJOR BRANDS PVT LTD 225839.00 22583.9

203255.10

24/05/20

07

15/08/201

EVANGLOS 196630.00 19663176967.0

0

16/06/20

11

15/06/2014

5NEHA C VARDHAN

BROOK TRADING CO. PVT. LTD 146068.00 14606.8

131461.20

15/07/20

06

13/08/2018

KASHMIRA ART BAZAAR 40747.00 4075 36672.00

27/12/20

11

01/10/2014

6 NEELAM C VARDHAN

SPORTS STATION INDIA PVT. LTD 136517.00 13651.7

122865.30

16/06/20

05

25/05/2014

7 MANJU U VARDHAN

PUMA SPORTS INDIA PVT. LTD 213717.00 21371.7

192345.30

20/03/20

09

19/02/2014

8CHAMPALAL K. VARDHAN & CO.

GITANJALI SALASAR RETAIL

PVT LTD 903430.00 90343813087.0

0

13/01/20

11

14/01/2015

LIFESTYLE

INTERNATION PVT LTD 926840.00 92684

834156.00

01/03/20

12

31/01/2015

SIMPLEX BEAUTY CENTRE 123000.00 12300

110700.00

3/03/201

2

02/03/2015

SAP MOBILE 100000.00 10000 90000.00

01/03/20

12

31/12/2014

Mc Donalds( From

july) 1500000.0 15000 China Yok( From

july) 900000.00 900009 SANSKAR

REALTORS PARAM CONCEPT 41573.00 4157 37416.00 01/0

8/2001/08/2014


PVT. LTD 11

TOTAL RS.4334771.0

0 3901383.

40

----------------------------------------------------------------------------------------

Individual Financial Status

----------------------------------------------------------------------------------------

1. Mr. Champalal Vardhan(In Rs. Lacs)

2007-08 (Audited)

2008-09

(Audited)

2009-10

(Audited)

2010-11

Agriculture Income 2.06 1.45 1.49

1.93

By Flat rent 48.00 48.78 99.60 70.55

Rental income 99.48 93.45 74.00

59.54

Net profit 831.39 609.29 573.81 1001.76


2. Mr. Karan Champalal Vardhan(In Rs. Lacs)

2007-08 (Audited)

2008-09

(Audited)

2009-10

(Audited)

2010-11

Salary Atria-Ad display pvt ltd 24.00 20.00 10.80 10.80

Rental income 49.21 48.14 36.00 24.65

To balance C/f 10.00 31.64 26.27 18.71


3. Mr. Ummedraj K.Vardhan(In Rs. Lacs)

2007-08 (Audited)

2008-09

(Audited)

2009-10

(Audited)

2010-11

By bank Interest 0.61 0.69 0.81 0.47

Rental income 20.97 24.25 7.42

Net Profit 685.89 219.74 401.82 428.04


4. Mr. Kunal Champalal.Vardhan(In Rs. Lacs)

2007-08 (Audited)

2008-09

(Audited)

2009-10

(Audited)

2010-11

Salary Atria-Ad display pvt ltd 0 6.00 6.00 6.00

Rental income 49.95 29.93 47.67 46.97

To balance C/f 101.12 124.48 707.75 737.77

Financials of Neelam finance(Solstice Project)


(In Rs. Lacs)

Pioneer Constructions & Consultants

(Sudha Park)

(In Rs. Lacs)

Star Premises

2007-08 (Audited)

2008-09

(Audited)

2009-10

(Audited)

2010-11

Interest Received - 3.31 3.40 4.10

PBT - 3.31 3.40 4.65

DEP 1.88 2.73 3.10 16.62

Interest paid 9.97 0 9.76 91.08

2007-08 (Audited)

2008-09

(Audited)

2009-10

(Audited)

2010-11

Income 2311.55 716.62 2481.91

PBT 1843.00 688.18 2493.83

DEP 0.41 2.13 0.26

Interest paid 0.01 0.40


(Spiro Project)

(In Rs. Lacs)

2007-08 (Audited)

2008-09

(Audited)

2009-10

(Audited)

2010-11

Interest Received 0.07 0.59

PBT 0.07 0.59

DEP

Interest paid

Documents

Final Champalal Vardhan