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: CRISIL Ratings : http://www.crisil.com/Ratings/RatingList/RatingDocs/Sh ri_Vile_Parle_Kelavani_Mandal_December_ 31_2015_RR.html[26/04/16 10:56:16 AM] December 31, 2015 Mumbai Shri Vile Parle Kelavani Mandal Rated amount enhanced Total Bank Loan Facilities Rated Rs.8400 Million (Enhanced from Rs.7000 Million) Long Term Rating CRISIL A/Stable (Reaffirmed) Short Term Rating CRISIL A1 (Reaffirmed) (Refer to Annexure 1 for Facility-wise details) CRISIL's ratings on the bank facilities of Shri Vile Parle Kelavani Mandal (SVKM) continue to reflect SVKM's established brand equity and strong market position in the educational sector as reflected in the high occupancy levels in its courses. The ratings also factor in the healthy financial risk profile because of adequate liquidity and moderate debt protection metrics. These rating strengths are partially offset by the society's aggressive capital expenditure, expected to be around Rs.4.5 billion over the next two years and the risks related to the regulatory framework governing the education sector. Ou t look : St ab le CRISIL believes SVKM will continue to benefit over the medium term from its strong brand name and established market position. The outlook may be revised to 'Positive' in case of a significant and sustainable increase in the revenue and cash accrual, leading to higher-than-envisaged free cash flows from operations. Conversely, the outlook may be revised to 'Negative' if the operating performance declines, resulting in reduced cash accrual, or in case of more-than-expected, debt-funded capital expenditure. Ab ou t t h e So ci e t y Set up in 1934, SVKM is a public charitable organisation registered under the Societies Registration Act, 1860, and the Bombay Public Trust Act, 1950. The society operates 35 educational institutes at every level, starting from pre-primary up to post-graduation. It also operates Narsee Monjee Institute of Management Studies (NMIMS), which offers specialised courses in management and technology. SVKM was established by prominent personalities from the Gujarati community from the Juhu-Vile Parle area in Mumbai, and its managing committee is currently presided by Mr. Amrish Patel, Member of Legislative Assembly, Shirpur (Maharashtra). SVKM is expanding its footprint beyond Mumbai by setting up NMIMS-branded campuses in other states. Currently, construction activities at its Shirpur, Bengaluru, and Jadcherla (Hyderabad) campuses are underway. The society also plans to set up campuses in Sanand (Gujarat) and Mohali (Chandigarh). SVKM reported a surplus (excess of income over expenditure) of Rs.14.62 million on revenue of Rs.4.29 billion for 2014-15 (refers to financial year, April 1 to March 31), as against a surplus of Rs.14.86 million on revenue of Rs.3.65 billion for 2013-14. An n ex u r e 1 - Det ai ls o f v ar iou s b an k fa cil it ies Current facilities Previous facilities Facility Amount (Rs.Million) Rating Facility Amount (Rs.Million) Rating Cash Credit 100 CRISIL A/Stable Cash Credit 100 CRISIL A/Stable Letter of Credit 150 CRISIL A1 Overdraft Facility 608 CRISIL A1 Overdraft Facility 1474 CRISIL A1 Proposed Long Term Bank Loan Facility 3031.9 CRISIL A/Stable Proposed Long Term Bank Loan Facility 261 CRISIL A/Stable Term Loan 3260.1 CRISIL A/Stable Term Loan 6415 CRISIL A/Stable -- 0 -- Total 8400 -- Total 7000 --

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