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(B) BUSINESS OVERVIEW
Overview of the Business of Our Company
We are a real estate development and project management company, focused on premium residential and
commercial developments concentrated majorly in and around Mumbai. We are engaged in the development
and construction of residential, office space, retail and mixed use projects by integrating various requirements
and specific demands of customers, we seek to create “build to suit” developments, which we believe will not
only enhance the desirability of our projects but will also provide our customers efficient space, which will cater
to their current and future needs. While our focus is on residential and commercial projects, we have a
diversified portfolio of projects covering key segments of the real estate market, which target the upper end of
the respective income or market segment.
We undertake real estate development projects on property development basis and project management basis.
Property Development includes activities starting from conceptualization stage to completion stage. Project
Management includes understanding the need of customer, project planning and feasibility, Project Assessment
studies, Geological and Soil Investigation, Architectural / Engineering / Interior Designs, Construction
management, Build to Suit Solutions, etc. We believe that our in-house design and architectural team has in-
depth understanding of “Global” building parameters and quality standards and “Local” necessities and thereby
offering “GLOCAL” architectural designs that combines local values with global quality standards. Based on
the rich experience of our management, we believe that we have the scalability required to undertake large
developments.
We currently follow a sale model for our real estate development projects. We currently have 1 Ongoing project
and 2 Planned Projects in Mumbai through which we expect to provide a total Saleable area of approximately
1,41,882 square feet. The estimated Saleable Area of our ongoing and upcoming projects as of July 31, 2011 is
summarized in the table below:
Sr.
No.
Project
Location
Project Type
Estimated Saleable Area (in
Square Feet)
Ongoing Project
1
X'czar
Juhu - Vile Parle Residential
37,532
Planned Projects
2
X'enus
Matunga
Residential and Commercial
#24,123
3
X’point
Kandivali
Residential and Commercial
#80,227
Total
1,41,882
# Based on Management Estimates
Our Company was initially engaged in manufacturing of Yarn. The Promoters of Our Company took over the
management control of Our Company from erstwhile promoters in the year 2009 after complying with the Open
Offer formalities under SEBI (SAST) Regulations. (For further details on history of Our Company, please refer
to Section - “History and Corporate Structure” on page 102 of this Draft Letter of Offer).
Rodium Group:
After the Change of Management, Our Company, forms part of Rodium Group based in Mumbai, promoted by
Mr. Deepak Chheda, Mr. Harish Nisar, Mr. Rohit Dedhia and Mr. Shailesh Shah. Our Promoters have a track
record of developing innovative projects through emphasis on contemporary architecture, strong project
execution and quality construction in the real estate industry. Our Promoters have been developing real estate
projects since 1990, through various proprietorship firms, partnership firms and various project-specific entities.
From 2006, the business of prime real estate development was carried on under a partnership firm viz. M/s.
Rodium Properties. We continued the business of M/s. Rodium Properties, Partnership firm on going concern
basis with effect from April 1, 2010. Some of the projects executed by our Promoters are given below:
83
Name of
Entity
Year of
Construction
Name of the
Project
Location
Built up Area
( in Square
Feet)
Type of Construction
(Residential/
Commercial)
Rodium
Properties
2006-2010
X’trium
Andheri
(East)
17,193
Commercial
Rodium
Realty &
Construction
2005-2006
X’cube
Andheri
(West)
29,000
Commercial
Amrut Dhara
Enterprise
2002-2004
Amrut Dhara
Heights
Matunga
27,000
Residential and
Commercial
Sigma Fiscal
Pvt. Ltd.
2001-2003
Trade Avenue
Andheri
(East)
39,000
Commercial
Amrut
Construction
Company
1996-1997
Amrut Tower
Matunga
14,000
Residential
One of the key competitive strengths of Rodium group is that it is a one stop build to suit solution provider i.e.
to deliver a project from its conceptualization stage to completion stage. We are dependent on third party
suppliers for products and services required in the development and construction of our projects. Further, it
ensures that products and services required for development and construction of a project meet our quality
standards and are delivered in a timely manner.
In our business, our focus is on developing boutique architectural projects, which provide the customers
opportunities to optimize the usage of space. We look forward to create efficient, futuristic and built-to-suit
habitats targeted towards a range of customers, from individual users and small companies, to large corporate
groups in various sectors.
Our total income as restated were Rs. 2,548.20 Lakhs and Rs. 317.16 lakhs for the year ended March 31, 2011
and March 31, 2010 respectively. Our net profit as restated were Rs. 386.85 Lakhs and Rs. 246.84 lakhs for the
year ended March 31, 2011 and March 31, 2010 respectively.
Competitive Strengths:
The competitive Strengths of Our Company are described herein below:
Experience of Our Promoters
Our Company has commenced real estate development activities after taking over the controlling interest in the
Company by our Promoters. However, our Promoters Mr. Deepak Chheda, Mr. Harish Nisar, Mr. Rohit Dedhia
and Mr. Shailesh Shah have considerable experience in the real estate industry which has enabled us to
successfully complete projects in the real estate sector. Mr. Deepak Chheda, our Chairman and Managing
Director, has more than 20 years of experience in the real estate and construction industry. One of the key
factors of our business proposition is to deliver the customized building solutions in a timely manner using
innovative architectural solutions. We believe that the experience of our management team and its in-depth
understanding of the real estate industry in India, particularly in Mumbai, will enable us to continue to take
advantage of both current and future market opportunities.
Strong In-house Design and Architectural Capabilities
We have strong in-house design and architectural team led by Mr. Deepak Chheda, Chairman and Managing
Director of Our Company, who is a Master in Architecture from California Polytechnic State University, San
Luis, Obispo CA, USA. The team consists of members having experience and expertise in design, layout and
architecture of various real estate projects. We rely on our internal design and architectural team for design,
architecture, layout and development of all our real estate projects. The ready availability of our in-house team
enables us to develop and create customized building solutions for our clients. Our design and architectural
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