Microsoft Word Rodium dlof for printing 11-08-2011- with Page no doc
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- Bu səhifədəki naviqasiya:
- Area (Sq. ft.) Project Comme ncement Date Estimated Completio n Date*
- Balance Costs to be incurred
- Balance Funds to be Deployed 2011-12 2012-13
- B. Source of financing of funds already deployed
- Total 2021.81
- Expenses related to the Issue
- Sr. No. Particulars Rs. In Lakhs % of the Issue Size
- TOTAL [*] [*]
58 “Govt. Approvals or Licensing Arrangements” on page 82 and page 184 respectively of this Draft Letter of Offer. The details of the projects, including the utilization of the proceeds of the Issue, are as follows: (Rs. In Lakhs) Name of Ongoing Project & Location Type of Project Land Size (Sq. ft.) Saleable Area (Sq. ft.) Project Comme ncement Date Estimated Completio n Date* Total Estima ted Project Cost* Costs Incurred Up to June 30, 2011** Balance Costs to be incurred X'czar - Juhu - Vile Parle Reside ntial 8,109.59 37,532 Decemb er 2009 3 rd Quarter 2012-13 4454.70 2432.89 2021.81 * Management Estimates ** As per the certificate issued by M/s. M. M. Nissim and Co., Chartered Accountants dated August 11, 2011 Break-up of Project Costs, Source of financing of funds already deployed and Deployment of balance funds: A. Break-up of Estimated Project Cost and Costs Incurred till June 30, 2011 (Rs. In Lakhs) Estimated Funds Deployed in FY Sr. No. Break-up of Project Cost Total Estimated Cost Amount deployed as at June 30, 2011 Balance Funds to be Deployed 2011-12 2012-13 1 Land / TDR Cost 2672.10 1722.20 949.90 900.00 49.90 2 Construction Cost 1272.20 427.76 844.44 150.00 694.44 3 Selling, Marketing, Brokerage, Administration and other Miscellaneous Costs 510.40 282.93 227.47 75.00 152.47 Total Estimated Costs 4454.70 2432.89 2021.81 1125.00 896.81 As on June 30, 2011, we have incurred total costs of Rs. 2432.89 lakhs towards acquisition of land, stamp duty, legal, construction and various other costs towards Project X’czar, which was funded through advances received from customers of Rs. 1732.09 lakhs, Unsecured Loans of Rs. 183.80 lakhs and Term Loan disbursement by Indian Overseas Bank of Rs. 517 lakhs. The same has been certified by the Statutory Auditor viz. M/s. M. M. Nissim and Co., Chartered Accountants vide their certificate dated August 11, 2011. B. Source of financing of funds already deployed (Rs. In Lakhs) Sr. No. Source of Funds already deployed Amount Deployed as at June 30, 2011 1 Advances received from Customers 1732.09 2 Unsecured Loans 183.80 3 Term Loan – part disbursement received from Indian Overseas Bank 517.00 Total 2432.89 * As per the certificate issued by M/s. M. M. Nissim and Co., Chartered Accountants dated August 11, 2011 C. Deployment of the balance funds: (Rs. In Lakhs) Sr. No. Particulars Amount to be Deployed 1 Term Loan part disbursement to be received from Indian Overseas Bank 1283.00 2 Net Proceeds of the Issue 738.81 Total 2021.81 59 Our Company proposes to deploy the balance funds of Rs. 2,021.81 lakhs by December 31, 2013, which is proposed to be met partly from the balance Term Loan disbursement of Rs. 1,283 lakhs from Indian Overseas bank and Rs. 738.81 lakhs from the Net Proceeds of the Issue. Schedule of Implementation Sr. No. Schedule of Activities for Ongoing Project – X’czar Actual/Expected Date of Commencement Actual/Expected Date of Completion 1 Land Acquisition December 2009 February 2010 2 Obtaining Legal / Regulatory Approvals April 2010 August 2010 3 Construction 1 st Quarter FY 2010-11 3 rd Quarter of FY 2012-13* * As per Management Estimates Any expenditure incurred towards the Objects would be recouped from the Net Proceeds of the Issue. In the event, the estimated utilization out of the Net Proceeds of the Issue in any given financial year is not completely met, the same shall be utilized in the next financial year. 2. Part Repayment of Unsecured Loans The balance of Unsecured Loans outstanding and payable as on March 31, 2011 by Our Company from our promoters and others is Rs. 2,835.04 lakhs, which were utilized for various project execution expenses, purchase of land and other rights. We propose to utilize Rs. 1800 lakhs out of the proceeds of this Issue for part repayment of unsecured loans availed from promoters and others.. 3. General Corporate Purposes The Net Proceeds from the Issue will be first utilized towards the aforesaid items and the balance of the Net Proceeds of the Issue aggregating to Rs. [*] lakhs would be utilized towards general corporate purposes, including but not restricted to meeting capital expenditure, strategic initiatives, brand building exercises, strengthening of our marketing capabilities and/or any other purposes as approved by our Board of Directors. Our management, in response to the competitive and dynamic nature of the industry, will have the discretion to revise its business plan from time to time and consequently our funding requirement and deployment of funds may also change. This may also include rescheduling the proposed utilization of Net Proceeds and increasing or decreasing expenditure for a particular object vis-à-vis the utilization of Net Proceeds. Our management, in accordance with the policies of our Board, will have flexibility in utilizing the proceeds earmarked for general corporate purposes. Expenses related to the Issue The Issue related expenses consist of fees payable to Lead Manager to the Issue, Legal Counsel, Bankers to the Issue, Registrars to the Issue, Printing and Distribution expenses, Advertising, Depository fees and all other incidental and miscellaneous expenses for listing the Equity Shares on the Stock Exchange. We intend to use about Rs. [*] lakhs towards these expenses for the Issue. All expenses with respect to the Issue will be borne out of Issue proceeds. Sr. No. Particulars Rs. In Lakhs % of the Issue Size 1. Lead Manager, Legal Advisor and Other Fees [*] [*] 2. Statutory Fees payable to SEBI and Stock Exchanges, Registrar and Depository Charges [*] [*] 3. Advertising, Printing, Stationery, Stamp Duty and Postage expenses (including transportation costs) [*] [*] 4. Misc. Expenses [*] [*] TOTAL [*] [*] Yüklə 4,84 Kb. Dostları ilə paylaş:
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