Escolar Documentos
Profissional Documentos
Cultura Documentos
Focused on
Delivery
Forward-looking Statement
Contents
CORPORATE OVERVIEW
1-20
Operational Highlights
10
14
16
18
Financial Snapshot
20
STATUTORY REPORTS
22-99
22
AGM Notice
35
Directors Report
49
72
FINANCIAL STATEMENTS
100-198
100
144
WE STRENGTHENED
OUR PORTFOLIO OF
PROJECTS ACROSS INDIAS
IMPORTANT CITIES.
WE IMPLEMENTED ROBUST
PROCESSES TO ENSURE
CONSISTENT QUALITY AND
SCALABILITY.
DELIVERING ON OUR
COMMITMENTS HAS BEEN
THE PRIMARY FOCUS AREA
FOR US AT PENINSULA LAND
DURING 2014-15.
WE ENHANCED
MANAGEMENT BANDWIDTH
AND RELIED ON BESTIN-CLASS TECHNOLOGY
TO ACCELERATE PROJECT
TURNAROUND TIME.
WE EMPOWERED OUR TEAM
THROUGH PROACTIVE
TRAINING AND LEADERSHIP
PROGRAMMES.
AT PENINSULA LAND,
WE CREATE PROJECTS
OF INTERNATIONAL
REPUTE.
For nearly two decades we have
worked on many landmark
projects that continue to bring
enduring value to our customers.
Our experience and expertise
have also helped elevate the
quality standards and execution
framework of the real estate
industry in India.
Our Vision
We envision ourselves
becoming the most trusted real
estate developer in India with
leadership in market share and
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this by building distinctive
sales, marketing and project
management capabilities. Our
intention is to also inculcate a
high performance culture and
build successful partnerships to
create landmark projects.
Corporate Overview
Introducing Peninsula
Land
370+
TEAM SIZE
6.4
MN SQUARE FEET
OF PROJECT DEVELOPMENT
TRACK RECORD
17
Revenue Mix
YEARS OF EXPERIENCE
44
14,000 crores
TOTAL VALUE OF
EXECUTED PROJECTS
50
Commercial
Our Expertise
Major Accomplishments
Constructed Crossroads, a
shopping mall in Mumbai
Constructed Peninsula
Corporate Park, a 1 mn square
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Residential
Retails
Constructed Peninsula
Technopark, a 0.9 mn square
feet IT Park
Constructed Ashok Towers, a
1.1 mn square feet residential
complex comprising three
towers of 31 storeys each and
one tower of 49 storeys
Peninsula Business Park, 1.3 mn
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space, right in the heart of
Mumbai
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SINCE INCEPTION,
WE HAVE ALWAYS
FOCUSED ON
DEVELOPING
AN EFFICIENT
EXECUTION MODEL.
OVER THE YEARS,
OUR RELATIONSHIPS
WITH OUR
INVESTORS,
PARTNERS AND
STAKEHOLDERS
HAVE HELPED US
CREATE VALUE FOR
THE LONG TERM,
DESPITE INDUSTRY
CHALLENGES.
Corporate Overview
Tradition of Top-tier
Execution
1997
2008
2013
1999
2009
2014
2003
2010
2015
2005
2011
2006
2012
$QQXDO5HSRUW _5
Operational Highlights
Bishopsgate
Mumbai
467
Celestia Spaces
Mumbai
290
Carmichael
Residencies
Mumbai
159
Mumbai
142
Ashok Meadows
(Phase 1)
Pune
159
Ashok Heights
JP Nagar
Bengaluru
Ashok Astoria
Nashik
Ashok Nirvaan
Lonavala
78
Ashok Beleza
Goa
33
Total
Cumulative Sales
Value (` crores)
Project Name
93
101
1,522
Corporate Overview
Operational Highlights
Location
Development
Model
1,200
Mumbai
JV
49
Mumbai
JV
631
Bengaluru
Owned
1,502
Pune
JV
772
Pune
JV
10,000
Pune
Owned
638
Alibaug
JV
Saral
50
Alibaug
Owned
Total
14,842
Projects
Celestia Spaces
(Sewree Phase 2)
Napeansea Road
Mahadeopura
Ashok Meadows
Phase 2 & 3
Tathavade
Mamurdi Gahunje
Sogaon, Alibaug
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Particulars
Saleable area of Peninsula
Business Park
1,294,737
1,285,167
9,570
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Brick b
y brick.
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we remain focused on delivery.
Tradition
and Modernity
Corporate Overview
Tradition and Modernity
$QQXDO5HSRUW _11
Project Details
Project
03
04
05
12_$QQXDO5HSRUW
Saleable Area
(sq ft in 000s)
Bishopsgate
Mumbai
This is a high-end
residential project located
on Bhulabhai Desai Road in
South Mumbai.
86
Celestia
Spaces
(Phase I)
Mumbai
479
Carmichael
Residences
Mumbai
136
Ashok
Meadows
(Phase 1)
Pune
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has been executed in
Hinjewadi, Pune. The
project is designed by a
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Man Kok Pvt. Ltd.
498
Ashok
Astoria
Nashik
This is a premium
residential complex
spanning 18 acres, located
near Sula Vineyards. The
project is designed by
Hafeez Contractor.
589
01
02
Details
Project
06
Ashok
Nirvaan
Lonavala
352
Ashok Beleza
Goa
247
Ashok
Heights
Bengaluru
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in Bengaluru, located in
upmarket J P Nagar. It is
designed by Singapore
based HBA Design.
618
07
08
Saleable Area
(sq ft in 000s)
Details
$QQXDO5HSRUW _13
4.1
3
2
(mn sq ft)
2.0
1
0
0.3
1997-2004
2005-2009
1997-2004
(0.3 mn sq ft)
2010-2014
2005-2009
(2 mn sq ft)
2010-2014
(4.1 mn sq ft)
Peninsula
Corporate Park
Peninsula
Business Park
Palm Beach
Bayside Mall
Peninsula Techopark
Crossroads
CR2
Center Point
Kanjurmarg
Ashok Towers
Peninsula Centre
Ashok Gardens
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been incorporated, along with
prequalifying consultants,
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process and reviewing design
periodically. These measures have
been implemented at early stages.
Corporate Overview
Brand Promise
Brand Promise
$QQXDO5HSRUW _15
Levers of Progress
Corporate Overview
Levers of Progress
Investing in Human
Assets
We hire people with technical
competencies, managerial
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interpersonal skills.
We empower our people
through various responsibilities
and provide them with multiple
opportunities for growth.
Safety and welfare remain
an area of constant focus
at Peninsula Land. We are
committed to providing
and maintaining a work
environment that meets the
health and safety standards
in line with regulatory
requirements. We also ensure
safe working conditions at all
project sites through rigorous
implementation of our EHS
processes.
370
TEAM MEMBERS AS ON
MARCH 31, 2015
20+
YEARS OF EXPERIENCE OF
THE TOP MANAGEMENT
14+
38
Leadership Training
A leadership development
programme was conducted
on Execution of Strategy to
identify potential leaders.
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471
April
142
May
134
June
222
July
August
155
September
October
132
53
November
666
December
January
February
544
465
505
513
March
Partnership with
Government
8$3)LVSDUWQHULQJZLWKDUP
(Code Integration) to streamline
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a software to digitalise the MHUs,
as well as day-to-day operational
activities in hospitals, including
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Livelihood
Our Livelihood Programme aims
to achieve higher professionalism,
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and sustainability. The Programme
also seeks to develop womens
Corporate Overview
Building the Responsibility
Paradigm
April
2,603
May
June
2,486
July
August
2,604
2,981
September
October
4,490
3,376
November
December
January
February
March
Education
The Thane Municipal School
intervention is one of the
pioneering initiatives of UAPF.
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back in 13 municipal schools to
promote education. The thrust
areas of the initiative were to
provide coaching to weaker
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education and upgrade the
science laboratories.
4,478
3,807
4,004
3,847
3,625
Environment
Conservation Wildlands
Trust (CWT), a philanthropic
organisation works with the
mission to protect and conserve
sensitive habitats through
community participation. CWT
works in Maharashtra and Madhya
Pradesh (MP) working in nine
villages, six in Maharashtra and
three in MP in the areas of health,
education and livelihood. CWT
has an E-base at the Pench Tiger
Reserve, MP. Over 1,300 students
across eight schools have been
sensitised through various E-based
programmes.
Achievers Scholarship
Under this Scholarship
Programme, in 2014-15, nine
scholarships were awarded
to the children of Morarjee
Textiles Ltd. (MTL) employees
and six scholarships to children
of Peninsula Land Ltd. (PLL)
employees. Besides, two
scholarships were given to the
children of UAPF employees.
$QQXDO5HSRUW _19
Financial Snapshot
Particulars
2014-15
2013-14
2012-13
2011-12
2010-11
Revenue
294
372
850
644
611
EBITDA
(21)
56
223
187
307
(18)
50
217
182
303
(6)
49
197
157
246
Total Assets
3,626
3,100
3,027
2,968
2,611
Shareholders Fund
1,506
1,532
1,736
1,611
1,490
Borrowings
1,753
1,290
1,050
1,177
944
1.16
0.84
0.60
0.73
0.63
(0.23)
1.76
7.05
5.62
8.80
15%
20%
75%
55%
85%
53.95
54.88
62.18
57.71
53.37
Statutory
Reports & Financial
Statements
STATUTORY REPORTS
22-99
22
AGM Notice
35
Directors Report
49
72
FINANCIAL STATEMENTS
100-198
100
144
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the Company. Also given that real estate
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happening is high.
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The Company is able to counter a rise in input costs
through higher realizations.
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32_$QQXDO5HSRUW
Statutory Reports
Management Discussion
& Analysis
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complexity, it involves the team members exercising
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and engaging work environment, along with an attractive
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training programme and meritocracy based culture
motivates employees to take larger responsibilities and
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has put in place a periodic employee appraisal scheme
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development needs and opportunities.
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employees on its payroll.
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Statutory Reports
AGM Notice
Notice
Notice is hereby given that the 143rd Annual General
Meeting (AGM) of the members of Peninsula Land
Limited will be held at Hall of Culture, Nehru Centre, Dr.
Annie Beasant Road, Worli, Mumbai- 400018 on Friday,
August 28, 2015, at 3:00 p.m. to transact the following
businesses:
Ordinary Business:
1.
2.
7R FRQVLGHU DQG LI WKRXJKW W WR SDVV ZLWK RU
ZLWKRXWPRGLFDWLRQVWKHIROORZLQJ5HVROXWLRQDV
an Ordinary Resolution:
RESOLVED THAT Mr. D M Popat (DIN: 00057345),
a Director liable to retire by rotation, and who does
not seek re-appointment upon expiry of his term at
this Annual General Meeting, be not re-appointed
as Director of the Company.
RESOLVED FURTHER THAT the vacancy, so created
on the Board of Directors of the Company, be not
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resolution as an Ordinary resolution:
RESOLVED THAT pursuant to the provisions of
Sections 139, 142 and other applicable provisions,
if any, of the Companies Act, 2013, and Rules made
thereunder, M/s Haribhakti & Co LLP., Chartered
Accountants, Mumbai (ICAI Registration No.
103523W) be and are hereby re-appointed as the
6WDWXWRU\$XGLWRUVRIWKH&RPSDQ\WRKROGRFHIURP
the conclusion of this Annual General Meeting till the
conclusion of the next Annual General Meeting at a
remuneration to be decided by the Board of Directors
in consultation with the Auditors plus applicable
taxes (including Service Tax) and reimbursement of
travelling and out of pocket expenses incurred by
them in connection with the audit.
Special Business
5.
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a Special Resolution:
RESOLVED THAT pursuant to the provisions of
Section 196, 197, 203 and any other applicable
provisions of the Companies Act, 2013 and the
Rules made there under (including any statutory
PRGLFDWLRQV RU UHHQDFWPHQW WKHUHRI IRU WKH
time being in force), read with Schedule V to the
Companies Act, 2013 and Articles of Association
of the Company and subject to the approval of
Central Government or other Statutory/Regulatory
approval(s), if any, the consent of the members be
and is hereby accorded to re-appoint Mr. Rajeev A.
Piramal (DIN:00044983) as the Managing Director
of the Company to be designated as Vice Chairman
DQG 0DQDJLQJ 'LUHFWRU IRU D SHULRG RI YH \HDUV
ZLWKHHFWIURP2FWREHU
RESOLVED FURTHER THAT Mr. Rajeev A. Piramal,
Vice Chairman and Managing Director shall be paid
remuneration which shall not exceed 5% of the net
SURWV RI WKH &RPSDQ\ FDOFXODWHG LQ WKH PDQQHU
prescribed under Section 198 of the Companies
Act, 2013, for a period of three years w.e.f. October
26, 2015 with authority to the Nomination and
Remuneration Committee of the Board to alter and/
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[ WKH TXDQWXP FRPSRVLWLRQ DQG SHULRGLFLW\ RI
the remuneration payable to Mr. Rajeev A. Piramal
including the payment of commission as may
be determined subject however that the annual
remuneration including commission does not
exceed the limit approved hereinabove.
RESOLVED FURTHER THAT ZKHUH LQ DQ\ QDQFLDO
year during the currency of his tenure, the Company
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Piramal shall be paid the remuneration mentioned
below as minimum remuneration for a period
of three years w.e.f. October 26, 2015 subject
however that such minimum remuneration shall
not exceed the limits prescribed under Schedule V
of the Companies Act, 2013 and that the following
perquisites shall not be included in the computation
$QQXDO5HSRUW _35
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a Special Resolution:
Salary
Basic
1,20,00,000 pa
Perquisites
LTA
2,50,000 pa
Medical
Reimbursement
At actuals
Medical Insurance
Accident Insurance
Leave encashment
Gratuity
PF
12% on ` 15,000/- =
` 21,600/- p.a.
Superannuation
Fund
NIL
Commission
Perquisites
a. contribution to provident fund, superannuation
fund or annuity fund to the extent these either
singly or put together are not taxable under
the Income Tax Act, 1961 and
b.
36_$QQXDO5HSRUW
Statutory Reports
AGM Notice
(Amount in `)
Salary
Proposed
Basic
1,20,00,000 pa
Perquisites
Reimbursement
of Medical
expenses including
hospitalization for self
and family
At actuals
Reimbursement of
expenses for Gas,
Electricity, society and
incidental charges,
repairs & maintenance
of residence (including
society/condominium
maintenance charges)
At actuals
Club Membership
2 clubs
Reimbursement of car
fuel, maintenance &
Driver Salary
Insurance premium
for medical and
hospitalization policy
Personal Accident
Insurance
LTA
2,50,000 pa
Leave encashment
Gratuity
PF
Superannuation Fund
1,00,000 p.a.
Commission
As may be determined by
the Board of Directors
Perquisites
a. contribution to provident fund, superannuation
fund or annuity fund to the extent these either
singly or put together are not taxable under
the Income Tax Act, 1961 and
b.
7.
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a Special Resolution:
RESOLVED THAT pursuant to the provisions of
Section 42, 71 and all other applicable provisions
of the Companies Act, 2013 and Rules made
thereunder, if any (including any statutory
PRGLFDWLRQRUUHHQDFWPHQWWKHUHRIIRUWKHWLPH
being in force), and subject to rules/ regulations /
guidelines issued by Securities and Exchange Board
of India (SEBI) or any other appropriate/ statutory
authorities and pursuant to the provisions of the
Articles of Association of the Company, the Board/
Company be and is hereby authorised to make an
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and alloted, in one or more series, within a period
of One year on private placement basis to such
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this regard upto an overall amount of ` 1500 Crores
(Rupees One Thousand Five Hundred Crores only)
on such terms and conditions as may be decided
by the Board from time to time.
RESOLVED FURTHER THAT any one of the Directors
of the Company or any other persons authorised by
the Board be and are hereby severally authorized
to appoint such persons as Authorised Signatories
to do all such acts, deeds, things and execute all
such documents, undertaking as may be necessary
IRUJLYLQJHHFWWRWKHDERYHUHVROXWLRQ
RESOLVED FURTHER THAT the aforesaid resolution
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$QQXDO5HSRUW _37
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Statutory Reports
AGM Notice
b)
c)
d)
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f)
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(vii) If you are holding shares in demat form and had
logged on to www.evotingindia.com and voted on
an earlier voting of any company, then your existing
password is to be used.
(viii) If Demat account holder has forgotten the changed
password then Enter the User ID and the image
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enter the details as prompted by the system.
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Form
PAN
Enter your 10 digit alpha-numeric *PAN issued
by Income Tax Department (Applicable for
both demat shareholders as well as physical
shareholders)
Members who have not updated their
PAN with the Company/Depository
Participant are requested to use the
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digits of the sequence number printed
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Bank Details
OR Date of
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(x)
Statutory Reports
AGM Notice
(xviii) You can also take out print of the voting done by
you by clicking on Click here to print option on the
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Custodians
Non-Individual shareholders (i.e. other than
Individuals, HUF, NRI etc.) and Custodian are
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and register themselves as Corporates.
Rajashekhar Reddy
CompanySecretary
5HJLVWHUHG2FH
Peninsula Spenta,
Mathuradas Mills Compound,
Senapati Bapat Marg,
Lower Parel, Mumbai - 400 013.
Mumbai : May 9, 2015
Route Map
$QQXDO5HSRUW _41
42_$QQXDO5HSRUW
I.
General Information:
Statutory Reports
AGM Notice
Particulars
Total Income
3URWEHIRUHWD[
3URWDIWHU7D[
(` in Crores)
For the year
ended March 31,
2011 (audited)
611.05
302.51
245.78
$QQXDO5HSRUW _43
For FY 2014-15
Amount in `
For FY 2013-14
Amount in `
For FY 2012-13
Amount in `
For FY 2011-12
Amount in `
2,28,99,600
2,30,52,600
1,83,13,600
1,82,89,600
16,500
1,88,580
48,60,000
48,60,000
NA
NA
3,00,00,000
2,05,00,000
2,29,16,100
2,32,41,180
5,31,73,600
4,36,49,600
-RESUROHDQGKLVVXLWDELOLW\
Mr. Rajeev A. Piramal spearheads the
real estate business of the Ashok Piramal
Group. Mr. Piramal is the chief strategist
and leverages his in-depth understanding
of the business to enhance the growth of
the Company.
Mr. Piramal leads a strong team of
managers with a mission of delivering
premium value to all stakeholders. With
a vision and keen understanding of the
dynamic market trends, Mr. Piramal
has grown Peninsula Land Limited from
Mumbai based to multiple locations real
estate Company.
His implicit sense of business has enabled
Peninsula Land Limited to carve a niche
for itself in the real estate sector.
(5) Remuneration proposed:
The remuneration proposed to be paid
during the tenure of his directorship is
detailed in the Resolution.
&RPSDUDWLYHUHPXQHUDWLRQSUROHZLWK
respect to industry, size of the company,
SUROHRIWKHSRVLWLRQDQGSHUVRQ
The
proposed
remuneration
is
comparable and competitive, considering
the industry, size of the Company, the
managerial position and the credentials
of the Vice Chairman and Managing
Director and as per the industry standard
also.
44_$QQXDO5HSRUW
B)
Statutory Reports
AGM Notice
For FY 2014-15
Amount in `
For FY 2013-14
Amount in `
For FY 2012-13
Amount in `
For FY 2011-12
Amount in `
2,65,98,103
2,64,78,373
2,65,11,212
2,32,93,164
31,96000
31,66,000
28,36,000
61,56,000
NA
NA
3,00,00,000
2,05,00,000
2,97,94,103
2,96,44,373
5,93,47,212
4,99,49,164
Commission
Total
-RESUROHDQGKLVVXLWDELOLW\
Mr. Gupta has over 3 decades of
professional experience in business
management and in all aspects of
Corporate Finance such as treasury
management, mergers and acquisitions,
strategic planning, direct taxation,
company law matters, etc. He is in the
current position for the last 10 years. Mr.
Mahesh Gupta has helped in the Group
achieve its goals. Under his stewardship,
the Group formulated an aggressive plan
which has seen the businesses grow by
leap and bounds.
&RPSDUDWLYHUHPXQHUDWLRQSUROHZLWK
respect to industry, size of the company,
SUROHRIWKHSRVLWLRQDQGSHUVRQ
The
proposed
remuneration
is
comparable and competitive, considering
the industry, size of the Company, the
managerial position and the credentials
of the Group Managing Director.
(7) Pecuniary relationship directly or
indirectly with the Company, or
relationship with the Managerial
Personnel, if any:
Besides the remuneration and perquisites
as stated above, Mr. Mahesh S. Gupta
holds 300 shares in the Company and he
has no other direct or indirect pecuniary
relationship with the Company.
$QQXDO5HSRUW _45
5HDVRQVRIORVVRULQDGHTXDWHSURWV
The real estate sector depends largely
on
regulatory
approvals
which
are
constantly undergoing changes and various
amendments are being brought out in
law, which puts this sector under constant
compliance pressure.
The prolonged slowdown in the economic
activity, weak consumer sentiments, high
interest rate, slump in the real estate sector
coupled with the poor liquidity conditions
and the applicability of the Guidance Note
on Recognition of Revenue by Real Estate
Developers, which links the revenue recognition
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of incurring development and construction
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compared to total saleable area of the project,
has resulted in a considerable decline in the
revenue of the company from 01/04/2013
onwards since most of the Company projects
are yet to reach the minimum milestone
percentage . The Company has been making
QHFHVVDU\HRUWVWRLPSURYHLWVSHUIRUPDQFH
and has been aggressively pursuing and
implementing its strategies, including launch
of new projects and cost reduction initiatives.
The results of these initiatives are likely to be
felt in the coming years.
46_$QQXDO5HSRUW
Statutory Reports
AGM Notice
Date of Birth
12/05/1976
Date of Appointment
27/07/2004
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In the last 13 years that he has been associated with the real estate sector, Mr.
Piramal has played an instrumental role in developing some of the landmark
SURMHFWVLQ0XPEDL+HZDVSDUWRIWKHWHDPWKDWGHYHORSHGWKHUVWWH[WLOHPLOO
land in Mumbai, after the government opened up development of mill land.
Peninsula Corporate Park was developed on textile mill land in Central Mumbai
and this project transformed Lower Parel into a new age business district.
+H DOVR SOD\HG D FUXFLDO SDUW LQ WKH GHYHORSPHQW RI WKH UVW PDOO LQ QGLD LH
Crossroads. Mr. Piramal was in charge of the operations of Crossroads that brought
in a new concept of shopping to India.
Peninsula Business Park, Peninsula Technopark, Ashok Towers and Ashok Gardens
are some of the other iconic projects developed under his leadership.
3HQLQVXOD/DQG/LPLWHG
3HQLQVXODQYHVWPHQW0DQDJHPHQW&RPSDQ\/LPLWHG
3HQLQVXOD3KDUPD5HVHDUFK&HQWUH3ULYDWH/LPLWHG
QR[0HUFDQWLOH&RPSDQ\3ULYDWH/LPLWHG
3ODQHWYLHZ0HUFDQWLOH&RPSDQ\3ULYDWH/LPLWHG
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+LJKZD\&RQFHVVLRQV2QH3ULYDWH/LPLWHG
$3*5RDGDQG5DLO7UDQVSRUWV3ULYDWH/LPLWHG
3LUDPDO7UDQVSRUWDWLRQ3ULYDWH/LPLWHG
5RFNHOG7UDGLQJ3ULYDWH/LPLWHG
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
+HPQIUDVWUXFWXUHDQG3URSHUW\'HYHORSHUV3ULYDWH/LPLWHG
+LJK/LIH(YHQW0DQDJHPHQW&RQVXOWDQF\3ULYDWH/LPLWHG
*RRGWLPH5HDO(VWDWH'HYHORSPHQW3ULYDWH/LPLWHG
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Date of Birth
30/06/1956
Date of Appointment
26/10/2005
4XDOLFDWLRQV
Honours Degree in B.Com; L.L.B (Gen). Fellow Member of The Institute of Chartered
Accountants and The Institute of Company Secretaries of India
([SHUWLVHLQVSHFLFIXQFWLRQDODUHDV
In his current role since 2005, he plays the role of formulating the Groups business
VWUDWHJ\ VWHHULQJ WKH *URXS WR DFKLHYH LWV JRDOV DQG D VLJQLFDQW UROH LQ JXLGLQJ
HDFKEXVLQHVVWRDWWDLQSURWDEOHDQGVXVWDLQHGJURZWK8QGHUKLVVWHZDUGVKLSWKH
Group formulated an aggressive plan which has seen the businesses grow by leaps
and bounds. Mr. Gupta leverages his in-depth understanding of the businesses to
enhance the growth of the Group.
He has been associated with the Piramal Enterprise for about 17 years. As Group
CFO and was also on the board of several companies, including whole-time director
of Nicholas Piramal Ltd (now Piramal Enterprise Ltd). During this tenure, he was
part of the core team which was instrumental in transforming Nicholas Piramal
from a small enterprise to amongst the top three Pharmaceutical Companies,
mainly through mergers and acquisitions.
&($7/LPLWHG
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0RUDUMHH7H[WLOHV/LPLWHG
53*/LIH6FLHQFHV/LPLWHG
3HQLQVXOD+ROGLQJVDQGQYHVWPHQWV3ULYDWH/LPLWHG
3LUDPDOQIUDVWUXFWXUH3ULYDWH/LPLWHG
3LUDPDO7UDQVSRUWDWLRQ3ULYDWH/LPLWHG
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303$XWR&RPSRQHQWV3ULYDWH/LPLWHG
Audit Committee:
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53*/LIH6FLHQFHV/LPLWHG
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Stakeholders Relationship Committee:
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48_$QQXDO5HSRUW
Statutory Reports
Directors Report
Directors Report
Dear Shareholders,
1.
The Directors have pleasure in presenting their 143rd Annual Report and the Audited Accounts for the year
ended March 31, 2015 together with the Auditors Report thereon.
2.
Financial Results
(` in Crores)
Particulars
Total Income
3URWEHIRUHWD[
Less : Tax
3URWDIWHU7D[
3URW%URXJKW)RUZDUGIURP3UHYLRXV<HDU
1HW3URWDYDLODEOHIRUDSSURSULDWLRQ
Appropriation :
Less :
- Transfer to General Reserve - Transfer to Debenture Redemption Reserve
- Proposed Dividend on Preference Shares*
- Proposed Dividend on Equity Shares
- Distribution Tax Thereon
- Short Depreciation as per new Companies Act, 2013 Net of tax (Refer para (3)(A) of Note 23)
- Corporate Social Responsibility (U/s 135 - CSR Activity)
Add :
- Excess Dividend Provision Reversed
- Recoupment of Debenture Redemption Reserve
3URWFDUULHGWRWKH%DODQFH6KHHW
0.00
82.78
0.00
8.38
1.71
0.85
2.02
3.68
49.14
0.00
11.17
1.90
-
0.02
38.99
653.63
4.56
716.68
3.
$QQXDO5HSRUW _49
Share Capital
The paid up Equity Share Capital as on March 31,
2015 was ` 55.90 Crore. During the year under
review, the Company has neither issued any shares
nor granted stock options nor sweat equity.
5.
Debenture
During the year, the Non-Convertible Debentures
aggregating to ` 555.00 crore (` Five Hundred and
Fifty Five Crore) were issued on private placement
basis and the same were listed on BSE Ltd. and NonConvertible debentures aggregating to ` 155.95
crore were redeemed.
6.
Dividend
Preference Shares
The Board of Directors have recommended
dividend of Re. 0.50/- per Preference Share of ` 10/each for the year ended March 31, 2015.
Equity Shares
The Board of Directors have recommended
dividend of Re. 0.30/- per Equity Share of ` 2/- each
for the year ended March 31, 2015.
7.
50_$QQXDO5HSRUW
Statutory Reports
Directors Report
17. Meetings
'XULQJWKH\HDUYH%RDUG0HHWLQJVZHUHFRQYHQHG
and held, the details of which are given more
VSHFLFDOO\LQWKH&RUSRUDWH*RYHUQDQFH5HSRUW
18. Committees of the Board
During the year, the Board has constituted some
new Committees and also re-constituted some
of its existing Committees in accordance with the
Companies Act, 2013 and the listing agreement.
The details of all the Committees of the Board
including the Audit Committee, along with their
charters, composition and meetings held during
the year, are provided in the Report on Corporate
Governance which forms part of this Annual
Report.
19. Directors Responsibility Statement
Pursuant to Section 134 (5) of the Companies Act,
2013 (the Act), we hereby state that :
i)
ii)
LLL \RXU'LUHFWRUVKDGWDNHQSURSHUDQGVXFLHQW
care for the maintenance of adequate
accounting records in accordance with the
provisions of the Act for safeguarding the
assets of the Company and for preventing and
detecting fraud and other irregularities;
iv)
Y
vi)
Statutory Reports
Directors Report
DFFRXQWVRIWKH&RPSDQ\IRUWKHQDQFLDO\HDU
2015-2016
:LWKUHVSHFWWRWKH$XGLWRUVTXDOLFDWLRQVRQ
the Consolidated Financial Statement of the
Company, the impact of non-consolidation
of Financial Statement of an Associate is
LQVLJQLFDQW 7KH PDWWHUV HPSKDVL]HG E\ WKH
auditors in their report are self- explanatory.
b)
Secretarial Auditors
Pursuant to the provisions of Section 204 of
the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial
Personnel) Rules, 2014, the Company has
appointed M/s. Dhrumil M. Shah & Co.,
Company Secretary in practice, to undertake
the Secretarial Audit of the Company. The
report on the Secretarial Audit is annexed
herewith as Annexure-A3.
54_$QQXDO5HSRUW
Urvi A. Piramal
Chairperson
Mumbai : May 9, 2015
Statutory Reports
Directors Report
Annexure - A1
Annual Report on CSR Activities
1.
A brief outline of the company's CSR policy, including overview of projects or programs proposed to be
undertaken and a reference to the web-link to the CSR policy and projects or programs.
The Board of Directors of the Company approved the CSR Policy with aim and object to promote education,
protect Environment, employment, health care etc. as embodied in Schedule VII of the Companies Act, 2013.
The Company has undertaken activities as CSR activities within the CSR policy of the Company.
Web-link: http://www.peninsula.co.in/company/landlimited/CSR_Policy.pdf
2.
Sr.
&RPSXWDWLRQRI3URWIRU&65
1.
1HWSURWDVSHUVHFWLRQ
2.
4.
Amount (` In Cr.)
FY 2011-12
182.36
FY 2012-13
217.00
FY 2013-14
50.10
449.46
149.82
$YHUDJH1HW3URWRIODVW\HDUV
Prescribed CSR Expenditure (two per cent. Of the amount as in item 3 above): ` 3.00 Cr.
In view of less than expected performance of the Company during the year, the CSR committee approved lower CSR
expenditure of ` 2.02 Cr. for the FY 2014-15 against ` 3.00 crores approx.
'HWDLOVRI&65VSHQWGXULQJWKHQDQFLDO\HDU
D 7RWDODPRXQWVSHQWIRUWKHQDQFLDO\HDU` 1.79Cr
b. Amount unspent; ` 0.23 Cr.
F 0DQQHULQZKLFKWKHDPRXQWVSHQWGXULQJWKHQDQFLDO\HDULVGHWDLOHGEHORZ
Sector in which
the project is
covered
Projects or programs
(1) Local area or other
(2) Specify the State
and district
where projects
or programs was
undertaken
Health
Amount
outlay
(budget)
project
or programs
wise
7.34
15.71
10.56
5.46
Cumulative
expenditure
upto to the
reporting
period Apr
to March
(` in lacs)
Amount
Spent: Direct
or through
implementing agency
$QQXDO5HSRUW _55
Sector in which
the project is
covered
Projects or programs
(1) Local area or other
(2) Specify the State
and district
where projects
or programs was
undertaken
5. Mobile Health
Unit
6. Site Clinic
7. Site Clinic
8. Site Clinic
Livelihood
Education
9. Financial
Aid - Cancer
Treatment
1. Invest -Vocational Skill
Training
2. Invest- Vocational Skill
Training
3. Invest- Vocational Skill
Training
4. Invest- Vocational Skill
Training
1. Creche
2. Creche
Environment
Administration
Amount
outlay
(budget)
project
or programs
wise
Cumulative
expenditure
upto to the
reporting
period Apr
to March
(` in lacs)
Amount
Spent: Direct
or through
implementing agency
3.41
2.70
3.00
2.27
2.27
1.14
0.90
0.90
0.10
0.10
9.04
9.90
7.77
5.13
5.06
2.24
2.24
3.00
2.35
2.35
1.28
1.54
2.04
3.33
7.80
7.41
7.41
1.41
1.41
0.12
0.12
1.75
1.17
1.17
55.60
42.72
12.03
8.79
201.75
179.13
Total
7KH&65&RPPLWWHHFRQUPVWKDWWKHLPSOHPHQWDWLRQDQGPRQLWRULQJRIWKH&653ROLF\LVLQFRPSOLDQFHZLWKWKH
CSR Objectives and Policy of the Company.
Sd/Urvi A. Piramal
(Chairperson of CSR Committee)
56_$QQXDO5HSRUW
Sd/Rajeev A. Piramal
(Member)
Statutory Reports
Directors Report
$QQXDO5HSRUW _57
58_$QQXDO5HSRUW
Peninsula Facility
Management Services
Limited
12
13
14
Peninsula Crossroads
Private Limited
11
31/Mar/15
10
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
INR
INR
INR
INR
INR
INR
INR
INR
INR
INR
INR
INR
31/Mar/15
31/Mar/15
INR
31/Mar/15
0.50
0.01
1.00
18.00
0.10
0.01
0.01
0.01
0.01
1.61
0.01
3.51
0.01
0.01
31/Mar/15
INR
Reporting ReportShare
Period ing cur- capital
rency / Contribution
(0.03)
(2.72)
8.44
12.57
(0.13)
(0.01)
(0.01)
(0.01)
(0.07)
102.07
(0.01)
171.16
(0.01)
(0.01)
Reserves
& surplus
0.47
420.51
14.59
36.35
61.35
0.00
0.00
0.00
87.86
103.70
0.00
796.52
0.01
0.00
Total
assets
0.01
423.22
5.15
5.77
61.38
0.01
0.00
0.01
87.91
0.01
0.00
621.85
0.01
0.01
336.75
8.25
7.77
11.00
103.33
1.74
2.54
3.81
0.56
0.11
(0.00)
0.17
1.05
2.53
(0.02)
(0.00)
(0.00)
(0.00)
(0.01)
0.55
(0.00)
(0.14)
(0.00)
(0.00)
0.05
0.19
0.72
0.00
(0.00)
0.12
0.86
1.81
(0.02)
(0.00)
(0.00)
(0.00)
(0.01)
0.55
(0.00)
(0.14)
(0.00)
(0.00)
3URW
Proafter posed
taxation
Dividend
6WDWHPHQWFRQWDLQLQJVDOLHQWIHDWXUHVRIWKHQDQFLDOVWDWHPHQWRIVXEVLGLDULHVDVVRFLDWHFRPSDQLHVMRLQWYHQWXUHV
3XUVXDQWWRUVWSURYLVRWRVXEVHFWLRQRIVHFWLRQUHDGZLWKUXOHRI&RPSDQLHV$FFRXQWV5XOHV
Part A - Subsidiaries
AOC-1
Annexure - A2
100%
100.00%
100%
100.00%
56.00%
99%
100%
99%
100%
51%
99%
57.26%
99%
99%
% of
Share
holding
Takenow Property
Developers Private Limited
26
27
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
INR
INR
INR
INR
INR
INR
INR
INR
INR
INR
42.54
0.01
0.01
0.08
0.01
0.01
0.10
0.01
0.01
0.05
0.01
0.01
(0.07)
(2.42)
(0.01)
(10.65)
(0.01)
(0.07)
0.07
(0.02)
(0.04)
0.04
(0.02)
(0.42)
5.24
Reserves
& surplus
42.50
0.85
0.00
25.51
0.00
28.30
0.19
0.00
35.80
0.61
0.01
0.02
25.83
Total
assets
0.03
3.27
0.00
36.08
0.01
28.35
0.01
0.01
35.83
0.52
0.02
0.42
0.86
4.00
5.00
15.78
0.26
(0.01)
(0.17)
(0.00)
(0.00)
(2.82)
(0.01)
0.02
(0.00)
(0.01)
0.02
(0.00)
(0.00)
(0.51)
0.04
0.04
0.07
0.01
0.01
0.01
(0.01)
(0.17)
(0.00)
(2.82)
(0.00)
(0.01)
0.01
(0.00)
(0.01)
0.01
(0.00)
(0.00)
(0.52)
0.41*
3URW
Proafter posed
taxation
Dividend
84.99%
100%
100%
100%
99%
100%
70.00%
100%
100%
100%
100%
100%
75.01%
% of
Share
holding
Note:
1
* Proposed Dividend of Rs 0.41 Crores pertains to Preference Shares held by Peninsula Land Limited in Peninsula Investment and Management
Company Limited
Planetview Mercantile
Company Private Limited
22
25
21
20
RR Real Estate
Developments Private
Limited
Peninsula Pharma
Research Centre Private
Limited
19
24
18
23
17
INR
INR
31/Mar/15
16
31/Mar/15
INR
31/Mar/15
15
19.74
Reporting ReportShare
Period ing cur- capital
rency / Contribution
Directors Report
Statutory Reports
$QQXDO5HSRUW _59
60_$QQXDO5HSRUW
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
31/Mar/15
Latest
audited
balance
sheet
989,300
14,900
10,000
5,000
0.05
0.40
6.54
0.01
0.01
0.01
Amount of
Investment
in Associates
/Joint Venture
Description of how
WKHUHLVVLJQLFDQW
LQXHQFH
26% Shareholding
37.26% Shareholding
50% Shareholding
50% Shareholding
Extent of
Holding
%
Reason why
the associate /
joint venture
is not consolidated
0.01
0.30
6.20
2.42
0.02
(0.02)
(0.00)
0.24
(3.54)
0.02
Remarks
Joint Venture
Entity
Associates
Entity
Associates
Joint Venture
of PIMCL
Joint Venture
of PHIPL
(0.01) Associates
Not
Considered in
Consolidation
3URW/RVVIRUWKH\HDU
Considered
in Consolidation
Note:
1
As per Accounting Standard 23 on Associates under Equity method , Net worth of the Associates is negative so % of Loss in the Consolidated results
of the company is considered as Zero
3HQLQVXOD%URRNOHGQYHVWPHQWV0DQDJHUV3ULYDWH/LPLWHGLV-RLQW9HQWXUHRI6WHSGRZQ6XEVLGLDU\6WDNHLQWKLV6XEVLGLDU\FRPSDQ\LV
VRLQHHFWWKHRIVWDNHLQ3URW /RVV 1HWZRUWKLV&RQVLGHUHGLH
3
In case of Associates Companies, Consolidation considered as per Accounting Standard 23 on Associates under Equity Method
3HQLQVXOD%URRNHOGQYHVWPHQW
Managers Private Limited- Refer
Note 2
3HQLQVXOD%URRNHOG7UXVWHHV
Private Limited
Name of Associates/Joint
Ventures
Sr.
No.
Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and JointVentures
Statutory Reports
Directors Report
Annexure A3
Form MR-3
v.
ii.
iii.
iv.
vi.
b.
c.
d.
e.
f.
g.
h.
$QQXDO5HSRUW _61
i.
(i)
ii.
(ii)
62_$QQXDO5HSRUW
Dhrumil M. Shah
Company Secretary
CP 8978; ACS 22541
Place: Mumbai
Date: May 9, 2015
Statutory Reports
Directors Report
To,
The Members,
PENINSULA LAND LIMITED
of Laws, Rules and Regulations and happening of
events etc.
2)
4)
5)
6)
Place: Mumbai
Date: May 9, 2015
$QQXDO5HSRUW _63
Annexure A4
Form No. MGT-9
I.
1.
2.
3.
4.
5.
6.
II.
L17120MH1871PLC000005
10th August , 1871
Peninsula Land Limited
Public Limited Company
Yes
Freedom Registry Limited
Plot No. 101/102, 19th Street,
MIDC Area, Satpur, Nashik-422 007
Tel No: 0253-2354032
Fax No. 0253-2351126
Email: support@freedomregistry.in
Sr.
No.
1.
4100
100%
CIN/GIN
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
64_$QQXDO5HSRUW
% of
shares
held
100%
100%
100%
100%
57.26%
56%
100%
100%
75.01%
Applicable
Section
U67190MH2008PTC179576
U70100MH2006PTC159538
U51900MH2000PTC126692
U70200MH2007PLC167082
U70102MH2008PTC184961
U70100MH1995PTC084292
U51900MH2006PTC160212
U55101MH1999PLC118542
U67110MH2005PLC158070
Holding/
Subsidiary of
the Company
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
U00304GA2006PTC004532
U65991MH2005PLC158045
U51109MH2006PTC161379
U45400MH2007PTC171261
U70102MH2008PTC179575
U70200MH2007PTC167081
U70109MH2007PTC167090
U70100MH2006PTC159676
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
100%
70%
100%
100%
100%
100%
100%
100%
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
2(87)
Statutory Reports
Directors Report
Sr.
No.
CIN/GIN
% of
shares
held
51%
Applicable
Section
U45200MH2006PTC160048
Holding/
Subsidiary of
the Company
Subsidiary
18.
19.
20.
U70100MH2011PTC218090
U51909MH2011PTC218102
Subsidiary
Subsidiary
100%
100%
2(87)
2(87)
21.
AAA-3308
Subsidiary
99%
2(87)
22.
AAA-2751
Subsidiary
99%
2(87)
23.
AAA-3346
Subsidiary
99%
2(87)
24.
AAA-3339
Subsidiary
99%
2(87)
25.
AAA-3309
Subsidiary
99%
2(87)
26.
AAA-2166
Subsidiary
84.99%
2(87)
27.
AAA-3310
Subsidiary
99%
2(87)
28.
U45200MH2007PTC168953
Associates
50%
2(6)
29.
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
U67190MH2011PTC224167
Associates
50%
2(6)
30.
U74120MH2011PTC224370
Associates
37.26%
2(6)
31.
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV
Private Limited
Sew Engineering (India) Private Limited
U40100MH1998PTC113861
Associates
26%
2(6)
32.
AAC-1032
Associates
40%
2(6)
33.
AAB-9755
Associates
50%
2(6)
2(87)
*step down subsidiary through Peninsula Holdings and Investments Pvt. Ltd.
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
i.
Category-wise Share Holding
Category of
Shareholders
A.
1.
a.
b.
c.
d.
e.
f.
2.
a.
b.
c.
d.
e.
Promoters
Indian
Individual/HUF
Central Govt.
State Govt.
Bodies Corp.
Bank/FI
Any Other
i. ESOP / ESOS
ii. Trusts
Sub-Total-A-(1)
Foreign
NRI-Individuals
Other Individuals
Body Corporate
Bank/FI
Any Other
Sub-Total-A-(2)
%
Change
during
the year
5586110
5586110
2.00
5586110
5586110
2.00
66414
66414
0.02
66414
66414
0.02
1000000
148929248
155581772
-
1000000
148929248
155581772
-
0.36
53.34
55.72
-
1000000
148929248
155581772
-
1000000
148929248
155581772
-
0.36
53.34
55.72
-
$QQXDO5HSRUW _65
Category of
Shareholders
B.
1.
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
2.
a.
b.
c.
Total Share
Holder of
Promoters (1+2)
Public
Shareholding
Institution
Mutual Funds
Bank/FI
Cen. Govt.
State Govt.
Venture Capital
Insurance Co.
FIIs
Foreign Portfolio
Corporate
Foreign Venture
Capital Fund
Others
Sub-Total-B(1)
Non-Institution
Body Corporate
Individual
i. Individual
shareholders
holding
nominal
share capital
upto ` 1Lakh
ii. Individual
shareholders
holding
nominal
share capital
in excess of
`1Lakh
Others
i) NRI (Rep)
ii) NRI (NonRep)
iii) Foreign
National
iv) OCB
v) Trust
vi) In Transit
vii) Clearing
Member
Sub-Total-B (2)
2339
828575
12351092
47270259
-
25795
50960
2500
9250
-
28134
879535
12353592
47279509
-
0.01
0.32
4.42
16.93
-
1817
812213
12320439
40430556
-
25795
50960
2500
9250
-
27612
863173
12322939
40439806
-
0.01
0.31
4.41
14.48
-
(0.01)
(0.01)
(2.45)
-
60452265
88505
60540770
21.68
53565025
88505
53653530
19.22
(2.46)
26563747
349655
26913402
9.64
26570374
349655
26920029
9.64
21713221
4840855
26554076
9.51
23789666 4743595
28533261
10.22
0.71
7534680
475665
8010345
2.87
12895758
475665
13371423
4.79
1.92
909417
74950
984367
0.35
980609
74950
1055559
0.38
0.03
616488
616488
0.22
85646
85646
0.03
(0.19)
57337553
5741125
63078678
22.59
64322053 5643865
69965918
25.06
2.47
66_$QQXDO5HSRUW
Statutory Reports
Directors Report
Category of
Shareholders
C.
ii.
Share held by
Custodian for
GDRs & ADRs
Promoter and
Promoter Group
Public
Grand Total
(A+B+C)
273371590
5829630
279201220
100
Shareholders Name
1.
2.
3.
4.
5.
6.
Urvi A. Piramal
Rajeev A. Piramal
Harshwardhan A. Piramal
Nandan A. Piramal
Kalpana Singhania
Powerjet Carriers and
Transporters Pvt. Ltd.
Morarjee Goculdas
Spinning & Weaving
Company Limited Senior
Employees Stock Option
Scheme through its
trustees Urvi A. Piramal
and Mahesh S. Gupta
Ashok Piramal Group Real
Estate Trust through its
Trustee Ms. Urvi A. Piramal
Total
8.
%
Change
during
the year
273468850 5732370
279201220
100
%
change
in share
holding
during
the year
0.00
0.00
0.00
0.00
0.00
0.00
1000000
0.36
0.00
1000000
0.36
0.00
0.00
148929248
53.34
15.28
148929248
53.34
13.36
0.00
155581772
55.72
15.28
155581772
55.72
13.36
0.00
Shareholding of Promoters:
Sr.
No.
7.
iii.
Change in Promoters Shareholding There is no change in the shareholding of the promoter group.
iv.
Shareholding Pattern of top ten shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):
Date
Transaction
Franklin Templeton
Investment
Shareholding at the
Beginning of the year
April 1, 2014
No. of
% of total
Shares shares of the
Company
2,07,09,266
7.42
Cumulative Shareholding
during the year March 31,
2015
No. of
% of total
Shares shares of the
Company
2,07,09,266
7.42
$QQXDO5HSRUW _67
Date
Transaction
1,24,04,106
4.44
1,24,04,106
4.44
Templeton Emerging
Markets Investment
Trust Plc
New Deal MultitradePvt
Ltd
Shareholding at the
Beginning of the year
April 1, 2014
No. of
% of total
Shares shares of the
Company
15595175
5.59
Cumulative Shareholding
during the year March 31,
2015
No. of
% of total
Shares shares of the
Company
15595175
5.59
Life Insurance
Corporation Of India
74,11,369
2.65
74,11,369
2.65
Blossom Mercantile
Private Limited
AshishDhawan
4710645
1.69
4710645
1.69
04.04.2014
Market Purchase
1200000
123109
0.43
0.04
1323109
0.47
11.04.2014
18.04.2014
12.09.2014
19.09.2014
30.09.2014
10.10.2014
17.10.2014
21.11.2014
28.11.2014
05.12.2014
12.12.2014
19.12.2014
31.12.2014
09.01.2015
16.01.2015
23.01.2015
13.02.2015
27.02.2015
06.03.2015
31.03.2015
-
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
Market Purchase
-
76891
200000
185470
214530
800000
125353
74647
108721
294310
196969
153915
146085
100000
30002
223536
10611
10634
21929
3288
49204
4241308
0.03
0.07
0.07
0.08
0.29
0.04
0.03
0.04
0.11
0.07
0.06
0.05
0.04
0.01
0.08
0.00
0.00
0.01
0.00
0.02
1.52
1400000
1600000
1785470
2000000
2800000
2925353
3000000
3108721
3403031
3600000
3900000
3900000
4000000
4030002
4253538
4264149
4274783
4296712
4300000
4349204
4241308
0.50
0.57
0.64
0.72
1.00
1.05
1.07
1.11
1.22
1.29
1.34
1.40
1.43
1.44
1.52
1.53
1.53
1.54
1.54
1.56
1.52
3411307
1.22
3411307
1.22
2500000
0.90
2500000
0.90
1268660
0.45
30.01.2015
-
Market Purchase
-
1,91,770
1723456
0.07
0.62
1460430
0.52
7
8
9
10
11
Highend Mercantile
Private Limited
Mahesh Shrikrishna
Gupta Jointly With
Narendra Aneja Esop
General Insurance
Corporation Of India
Employees Provident
Fund Managed By
Franklintempl Eton
Asset Management
Malaysia Sdn. Bhd.
TEMPLETON EMERGING
MARKETS FUND
68_$QQXDO5HSRUW
Statutory Reports
Directors Report
12
iv.
Sr.
No.
Date
ARES DIVERSIFIED
Transaction
V.
1639484
0.59
Cumulative Shareholding
during the year March 31,
2015
No. of
% of total
Shares shares of the
Company
1680287
0.60
1639484
0.59
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
Sold in the
Market
-
Shareholding at the
Beginning of the year
April 1, 2014
No. of
% of total
Shares shares of the
Company
43169
0.02
Urvi A. Piramal
Rajeev A. Piramal
Mahesh S. Gupta
Bhavna Doshi
D. M. Popat
Lt. Gen. Deepak Summanwar (Retired)
Sudhindar Khanna
Ajay Dua
Pradipta Mohapatra
Bharat Sanghavi
Rajashekhar Reddy
INDEBTEDNESS
Indebtedness of the Company including interest outstanding / accrued but not due for payment
PARTICULARS
SECURED LOANS
EXCLUDING
DEPOSITS
UNSECURED
LOANS
DEPOSITS
TOTAL
INDEBTEDNESS
1262.23
37.33
1299.56
27.74
27.74
1289.96
37.33
1327.29
987.00
837.74
149.26
698.81
385.00
313.81
1685.81
1222.74
9.96
473.03
1411.48
47.29
1458.77
341.55
341.55
1753.03
47.29
1800.32
$QQXDO5HSRUW _69
1.
2.
3.
4.
5.
B.
Sr.
No.
Gross Salary
(a) Salary as per provisions contained in
section 17(1) o0f the Income Tax Act, 1961
(b) Value perquisites u/s 17(2) Income Tax
Act, 1961
F 3URWVLQOLHXRIVDODU\XQGHU6HFWLRQ
Income Tax Act, 1961
Stock Option
Sweat Equity
Commission
$VRI3URW
- Others, Specify
Others, please specify
Provident Fund & other Funds
Performance Bonus
Total (A)
Ceiling as per the Act
Mr. Mahesh
Gupta, Group MD
4,24,96,500
2,28,76,500
2,89,96,000
9,43,69,000
80,658
39,600
7,98,103
9,18,361
4,25,77,158
2,29,16,100
2,97,94,103
9,52,87,361
RIWKHQHWSURWVRIWKH&RPSDQ\
II.
125000
300000
Name of Directors
Mr.
Lt. Gen.
Mr.
D. M.
Deepak Sudhindar
Popat Summanwar
Khanna
(Retired)
90000
370000
70000
125000
300000
90000
Mr. Amitabha
Ghosh (upto
July 31, 2014)
Sr.
No.
Mr. Rajeev A.
Piramal, MD
Total Amount
Ms.
Bhavna
Doshi
370000
70000
Dr. Ajay
Mr.
Dua Pradipta K.
Mohapatra
170000
170000
Total
Amount
295000
1420000
295000
1420000
Other NonExecutive
Directors
Fee for attending
board committee
meetings
Commission
Other
Total (2)
Total B = (1+2)
Total Managerial
Remuneration
Ceiling as per the
Act
Total
Amount
-
Nil
125000
9,52,87,361.00
Nil
300000
Nil
90000
Nil
370000
Nil
70000
Nil
170000
Nil
295000
RIWKH1HWSURWRIWKH&RPSDQ\
70_$QQXDO5HSRUW
1420000
Statutory Reports
Directors Report
C.
Sr.
No.
Particulars of Remuneration
1.
Gross Salary
2.
Total Amount
81,02,935
42,72,453
1,23,75,388
32,400
(c) 3URWVLQOLHXRIVDODU\XQGHU6HFWLRQ
Income Tax Act, 1961
Stock Option
3.
Sweat Equity
4.
Commission
$VRI3URW
- Others, Specify
Performance Bonus
81,35,335
42,72,453
1,24,07,788
N. A.
N. A.
5.
Total (C)
Ceiling as per the Act
Section of the
Companies Act
Brief
Description
Details of Penalty /
Punishment/Compounding
Fees imposed
Authority (RD /
NCLT / Court)
Appeal made,
if any
Penalty
Punishment
Compounding
2WKHU2FHUV
in Default
Penalty
Punishment
Compounding
$QQXDO5HSRUW _71
Category
Promoter Directors
Name of Directors
Executive Chairperson
27,92,015
300
Independent Directors
Director
500
Director
NIL
Director
NIL
9,21,365
Director
NIL
*Mr. D. M. Popat
Director
5,535
Director
NIL
Director
NIL
'LUHFWRUV3UROH
Brief Resume of the Directors, nature of their
H[SHUWLVHLQVSHFLFIXQFWLRQDODUHDVLVJLYHQEHORZ
72_$QQXDO5HSRUW
Statutory Reports
Corporate Governance
Report
Statutory Reports
Corporate Governance
Report
76_$QQXDO5HSRUW
Statutory Reports
Corporate Governance
Report
2.3 The details of directorship of the Companys Directors in other Public Limited Companies and subsidiaries
of Public Limited Companies as on March 31, 2015 are given below:
Sr. No. Name of Directors
Mr. D M Popat
$QQXDO5HSRUW _77
Category
Relationship
with other
directors
Attendance
Board
A.G.M. (held on No. of other
Committees
Meetings September 27, directorships Chairperson Member
2014)
/Chairman
Ms. Urvi A.
Piramal
Executive
Chairperson
Mother of
Mr. Rajeev A.
Piramal
Yes
Mr. Rajeev A.
Piramal
Yes
Mr. Mahesh S.
Gupta
Group Managing
Director
None
Yes
Non-Executive
Non-Independent
Director
Brother of Ms.
Urvi A. Piramal
No
Mr. Amitabha
Ghosh **
Independent
Director
None
No
Independent
Director
None
Yes
Mr. D. M. Popat
Non-Executive
Non Independent
Director
None
Yes
Independent
Director
None
Yes
Mr. Sudhindar
Khanna
Independent
Director
None
No
Independent
Director
None
Yes
Mr. Pradipta
Mohapatra
Independent
Director
None
Yes
Statutory Reports
Corporate Governance
Report
Board
Strength
No. of Directors
present
10
11
November 3, 2014
February 9, 2015
3. Audit Committee
Designation
Chairman
Chairperson
Member
Member
No. of meetings
during the year
Held
Attended
5
2
5
4
5
5
5
$QQXDO5HSRUW _79
5.
6.
31, 2014.
2YHUVLJKWRIWKHFRPSDQ\VQDQFLDOUHSRUWLQJ
SURFHVV DQG WKH GLVFORVXUH RI LWV QDQFLDO
LQIRUPDWLRQ WR HQVXUH WKDW WKH QDQFLDO
VWDWHPHQWLVFRUUHFWVXFLHQWDQGFUHGLEOH
2.
Recommendation
for
appointment,
remuneration and terms of appointment of
auditors of the company;
7.
9.
Scrutiny of
investments;
3.
4.
b.
c.
G
e.
f.
J
4XDOLFDWLRQVLQWKHGUDIWDXGLWUHSRUW
80_$QQXDO5HSRUW
inter-corporate
loans
and
Statutory Reports
Corporate Governance
Report
'XULQJWKHQDQFLDO\HDUWKH1RPLQDWLRQ
DQG 5HPXQHUDWLRQ &RPPLWWHH PHW YH WLPHV RQ
May 26, 2014, July 31, 2014, November 3, 2014,
February 9, 2015 and March 10, 2015. The details of
the meetings held during the year and attendance
of directors are given below:-
Chairman
Member
Member
Member
Member
Held
Attended
5
5
5
5
5
3
2
5
4
2
3.
4.
Remuneration of Directors
4.3 Remuneration paid to Non-Executive Directors
of the Company
The Non-Executive Directors of the Company
are paid sitting fees for attending each meeting
of the Board of Directors and Audit Committees
and Nomination and Remuneration Committee
thereof.
The Company has not granted any stock option to
any of its Non-Executive Directors.
$QQXDO5HSRUW _81
The details of the sitting fees paid for the year 201415 are given below:
Name of the Director
Ms. Bhavna Doshi
Mr. D. M. Popat
Lt. Gen. Deepak Summanwar
Mr. Sudhindar Khanna
Dr. Ajay Dua
Mr. Pradipta Mohapatra
Mr. Jaydev Mody*
Mr. Amitabha Ghosh**
Designation
Executive Chairperson
7KH WHQXUH RI RFH RI WKH ([HFXWLYH 'LUHFWRUV RI WKH
Company is 5 years from their respective date of
appointments and can be terminated by either party
by giving three months notice in writing. There is no
separate provision for payment of severance fees.
The remuneration paid to the above Managerial
Personnel is subject to approval of Central Government.
0LQLVWU\RI&RUSRUDWH$DLUV1HZ'HOKL7KH&RPSDQ\
has made relevant application to the Central Government
and the approval is awaited.
4.5 Employee Stock Option Scheme
During the year, pursuant to the approval of the
members, the Company had terminated Employee
Stock Option Scheme.
5. Performance evaluation
82_$QQXDO5HSRUW
16,500
31,96,000
6. Stakeholders Relationship
Committee (earlier known an
Investors Grievance Committee)
Statutory Reports
Corporate Governance
Report
'XULQJWKHQDQFLDO\HDUWKH6WDNHKROGHUV
Relationship Committee met 4 (four) times on May
26, 2014, July 31, 2014, November 3, 2014 and
February 9, 2015. The attendance details are given
below:
Name of the Director
Designation
Chairman
Member
Member
Member
No. of meetings
during the year
Held Attended
4
4
4
4
4
1
3
3
Telephone Number
Fax Number
E-mail ID
Peninsula Spenta
Mathuradas Mills Compound,
Senapati Bapat Marg,
Lower Parel, Mumbai 400 013.
+91-22-6615 4651 - 53
+91-22-6615 4507
investor@peninsula.co.in
Designation
No of meetings
during the year
Held Attended
1
1
1
0
1
1
1
1
1
1
1
0
No of meetings
during the year
Held
Attended
Chairman
Member
Member
Member
Terms of Reference
The terms of reference of the Committee are:
84_$QQXDO5HSRUW
Designation
No of meetings
during the year
Held
Attended
Chairperson
Member
Member
Terms of Reference
The terms of reference of the CSR Committee are as under:
Formulate and recommend to the Board a Corporate
Social Responsibility Policy which shall indicate
the activities to be undertaken by the company as
VSHFLHGLQ6FKHGXOH9RIWKH&RPSDQLHV$FW
Recommend the amount of expenditure to be
incurred on the CSR activities.
Monitor the CSR activities of the Company from
time to time.
The CSR policy is uploaded on Companys website.
i.e http://www.peninsula.co.in/
CSR Activities
10. Internal
Complaint
Committee
pursuant to The Sexual Harassment
of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013
Statutory Reports
Corporate Governance
Report
Financial Year
AGM / EGM
Date
Time
Location
2011-12
140th AGM
3.30 p.m.
2012-13
141st AGM
August 8, 2013
3.00 p.m.
2013-14
142nd AGM
3.00 p.m.
Date of AGM
Special Resolution
142
September 27,
2014
nd
2.
3.
Particulars
Total Postal Ballot Forms Received
Less-Invalid Postal Ballot Forms
Net Valid Postal Ballot Forms
Postal Ballot Forms with Assent
Postal Ballot Forms with Dissent
No. of Shares
% of Assent/ Dissent
5,83,83,567
735
5,83,82,832
100.00%
5,83,79,167
99.99%
3,665
0.01%
E-Voting
Sr. No.
1.
2.
3.
4.
Particulars
Total E-Voting Received
Less-Invalid E-Voting
Net Valid E-Voting
E-Voting with Assent
E-Voting with Dissent.
No. of E-voters
35
35
32
3
No. of Shares
16,40,55,921
16,40,55,921
16,40,50,196
5,725
% of Assent/ Dissent
100.00%
99.99%
0.01%
$QQXDO5HSRUW _85
2.
For Special Resolution No.2: (Authority to Board of Directors for Creation of Charge/ Mortgage in respect
of Borrowings)
Physical Voting
Sr. No.
Particulars
1.
2.
735
98
5,83,82,832
100.00%
3.
89
5,83,79,167
99.99%
4.
3,665
0.01%
100
No. of Shares
% of Assent/ Dissent
5,83,83,567
E-Voting
Sr. No.
Particulars
1.
No. of E-voters
2.
Less-Invalid E-Voting
35
16,40,55,921
100.00%
3.
31
16,40,45,196
99.99%
4.
10,725
0.01%
35
No. of Shares
% of Assent/ Dissent
16,40,55,921
3. For Special Resolution No.3: (Private Placement of Non- Convertible Debentures (NCD)
Physical Voting
Sr. No.
Particulars
1.
2.
No. of Shares
% of Assent/ Dissent
5,83,83,567
735
98
5,83,82,832
100.00%
3.
86
5,83,79,667
99.99%
4.
12
3165
0.01%
E-Voting
Sr. No.
Particulars
1.
2.
3.
4.
No. of E-voters
35
35
30
5
No. of Shares
16,40,55,921
16,40,55,921
16,40,45,041
10,880
% of Assent/ Dissent
100.00%
99.99%
0.01%
Waiver from recovery of excess managerial remuneration paid to Ms. Urvi A. Piramal from April 1, 2013 to
March 31, 2014.
2.
Waiver from recovery of excess managerial remuneration paid to Mr. Rajeev A. Piramal from April 1, 2013
to March 31, 2014.
3.
Waiver from recovery of excess managerial remuneration paid to Mr. Mahesh S. Gupta from April 1, 2013
to March 31, 2014.
4.
Approval for the payment of remuneration to Ms. Urvi A. Piramal from April 1, 2014 to December 11, 2015.
5.
Approval for the payment of remuneration to Mr. Rajeev A. Piramal from April 1, 2014 to October 25, 2015.
86_$QQXDO5HSRUW
Statutory Reports
Corporate Governance
Report
6.
Approval for the payment of remuneration to Mr. Mahesh S. Gupta from April 1, 2014 to October 25, 2015.
The above mentioned resolutions were passed by the members with requisite majority.
Special Resolution No.1 (Waiver From Recovery of Excess Managerial Remuneration Paid To Ms. Urvi A
Piramal, Executive Chairperson For The Period From 01/04/2013 To 31/03/2014)
Physical Voting
Sr. No.
1.
2.
3.
4.
Particulars
Total Postal ballot forms received
Less-Invalid Postal ballot forms
Net valid Postal ballot forms
Postal ballot forms with assent
Postal ballot forms with dissent
No. of E-voters
52
1
51
18
33
No. of voters
478
40
438
239
199
E-Voting
Sr. No.
1.
2.
3.
4.
Particulars
Total E-voting received
Less-Invalid E-voting
Net valid E-voting
E-voting with assent
E-voting with dissent
Total
Sr. No.
1.
2.
3.
4.
Particulars
Total voting received
Less-Invalid voting
Net valid voting
voting with assent
voting with dissent
2.
Special Resolution No. 2 (Waiver From Recovery Of Excess Managerial Remuneration Paid To Mr Rajeev
A Piramal, As Vice Chairman And Managing Director For The Period From 01/04/2013 To 31/03/
2014)
Physical Voting
Sr. No.
1.
2.
3.
4.
Particulars
Total Postal ballot forms received
Less-Invalid Postal ballot forms
Net valid Postal ballot forms
Postal ballot forms with assent
Postal ballot forms with dissent
No. of Shares
182268156
677066
181591090
181449318
141772
% of Assent/ Dissent
No. of E-voters
52
1
51
18
33
No. of Shares
40303517
350
40303167
36512685
3790482
% of Assent/ Dissent
100%
99.92%
0.08%
E-Voting
Sr.No.
1.
2.
3.
4.
Particulars
Total E-voting received
Less-Invalid E-voting
Net valid E-voting
E-voting with assent
E-voting with dissent
100%
90.60%
9.40%
$QQXDO5HSRUW _87
Total
Sr. No.
Particulars
No. of voters
No. of Shares
1.
478
222571673
2.
Less-Invalid voting
46
677416
% of Assent/ Dissent
432
221894257
100%
3.
231
217962003
98.23%
4.
201
3932254
1.77%
3.
Special Resolution No. 3 (Waiver From Recovery Of Excess Managerial Remuneration Paid To Mr. Mahesh
S. Gupta As Group Managing Director Of The Company For The Period From 01/04/2013 To 31/03/
2014)
Physical Voting
Sr. No.
Particulars
1.
2.
No. of Shares
% of Assent/ Dissent
182268157
45
677066
381
181591091
100%
3.
210
181448119
99.92%
4.
171
142972
0.08%
E-Voting
Sr. No.
Particulars
No. of E-voters
No. of Shares
1.
52
40303517
2.
Less-Invalid E-voting
350
% of Assent/ Dissent
51
40303167
100%
3.
18
36512685
90.60%
4.
33
3790482
9.40%
Total
Sr. No.
Particulars
1.
No. of voters
2.
Less-Invalid voting
46
677416
432
221894258
100%
3.
228
217960804
98.23%
4.
204
3933454
1.77%
478
No. of Shares
% of Assent/ Dissent
222571674
4.
Special Resolution No. 4 (Approval for the payment Of Remuneration To Ms. Urvi A. Piramal As Executive
Chairperson Of The Company For The Period From 01/04/2014 Till 11/12/2015)
Physical Voting
Sr. No.
Particulars
1.
426
182266393
2.
44
677116
382
181589277
100%
3.
260
181496291
99.95%
4.
122
92986
0.05%
88_$QQXDO5HSRUW
No. of Shares
% of Assent/ Dissent
Statutory Reports
Corporate Governance
Report
E-Voting
Sr. No.
Particulars
No. of E-voters
No. of Shares
% of Assent/ Dissent
1.
52
40303517
2.
Less-Invalid E-voting
350
51
40303167
100%
3.
23
36517675
90.61%
4.
28
3785492
9.39%
Total
Sr. No.
Particulars
No. of voters
1.
2.
Less-Invalid voting
45
677466
433
221892444
100%
478
No. of Shares
% of Assent/ Dissent
222569910
3.
283
218013966
98.25%
4.
150
3878478
1.75%
5.
Special Resolution No. 5 (Approval for the payment Of Remuneration To Mr. Rajeev A. Piramal, As Vice
Chairman And Managing Director Of The Company For The Period From 01/04/2014 Till 25/10/2015)
Physical Voting
Sr. No.
Particulars
1.
2.
45
677366
381
181589026
100%
3.
258
181495389
99.95%
4.
123
93637
0.05%
426
No. of Shares
% of Assent/ Dissent
182266392
E-Voting
Sr. No.
Particulars
No. of E-voters
No. of Shares
1.
52
40303517
2.
Less-Invalid E-voting
370
% of Assent/ Dissent
50
40303147
100%
3.
24
36517727
90.61%
4.
26
3785420
9.39%
Total
Sr. No.
Particulars
1.
No. of voters
2.
Less-Invalid voting
47
677736
431
221892173
100%
3.
282
218013116
98.25%
4.
149
3879057
1.75%
478
No. of Shares
% of Assent/ Dissent
222569909
$QQXDO5HSRUW _89
6.
Special Resolution No. 6 (Approval for the payment Of Remuneration To Mr. Mahesh S. Gupta As Group
Managing Director Of The Company For The Period From 01/04/2014 Till 25/10/2015)
Physical Voting
Sr.No.
Particulars
1.
2.
No. of Shares
% of Assent/ Dissent
182266392
44
677116
382
181589276
100%
3.
262
181498258
99.95%
4.
120
91018
0.05%
E-Voting
Sr.No.
Particulars
1.
No. of E-voters
No. of Shares
2.
Less-Invalid E-voting
350
51
40303167
100%
3.
23
36515302
90.60%
4.
28
3787865
9.40%
52
% of Assent/ Dissent
40303517
Total
Sr.No.
Particulars
1.
2.
No. of voters
No. of Shares
478
% of Assent/ Dissent
222569909
Less-Invalid voting
45
677466
433
221892443
100%
3.
285
218013560
98.25%
4.
148
3878883
1.75%
12. Disclosures
0DWHULDOO\VLJQLFDQWUHODWHGSDUW\WUDQVDFWLRQV
The transactions between the Company and
the Directors and Companies in which the
Directors are interested are disclosed in Para
14 of Note 23 to the financial statement in
compliance with the Accounting Standard
relating to Related Party Disclosures. There
is no materially significant Related Party
Transaction that may have potential conflict
with the interest of the Company at large.
12.2 Statutory Compliance, Penalties and Strictures
There were no instances of non-compliance by the
Company nor have any penalties, strictures been
imposed by the Stock Exchanges or Securities and
Exchange Board of India or any other statutory
authority during the last three years on any matter
related to the capital markets.
12.3 Whistle Blower Policy
The Company has a vigil mechanism for Directors
and Employees to report their genuine concerns
about unethical behavior, actual or suspected
fraud or violation of the companys code of
90_$QQXDO5HSRUW
XQGHUVWDQGLQJWKHFULWLFDOLVVXHVDHFWLQJWKH
Company
Statutory Reports
Corporate Governance
Report
PDLQWDLQVFRQGHQWLDOLW\ZKHUHYHUUHTXLUHG
communicates in an open and constructive
manner
seeks satisfaction and accomplishment
through serving on the Board
$GHFODUDWLRQWRWKLVHHFWVLJQHGE\WKH0DQDJLQJ
Director is appended to this Report.
(b)
$QQXDO5HSRUW _91
to
the
Time
Venue
3.00 PM
Book Closure
Dates
Payment of
Dividend
92_$QQXDO5HSRUW
Dividend Date of
per share Declaration
(`)
(Annual General
Meeting)
Date of
payment (Date
of Dividend
Warrant)
2011- 12
1.10
August 16,
2012
August 17,
2012
2012- 13
1.50
August 8, 2013
August 10,
2013
2013-14
0.40
September 27,
2014
September 29,
2014
Statutory Reports
Corporate Governance
Report
503031
PENINLAND
ISIN Demat
INE138A01028
b)
Stock Code
Address:
Month
High (`)
Low (`)
Sensex
(closing)
High (`)
Low (`)
CNX
NIFTY (Closing)
April, 2014
38.45
31.6
22,417.80
38.4
31.5
6840.80
May, 2014
48.8
31.3
24,217.34
48.95
31.3
7367.10
June, 2014
46.9
38.05
25,413.78
47
37
7656.40
July, 2014
45.85
36
25,894.97
45.85
36.1
7830.06
August, 2014
37.85
33.55
26,638.11
37.8
33.5
7954.35
September, 2014
38.75
32
26,630.51
38.7
31.55
8173.90
37.1
32
27,865.83
37.15
31.95
8322.20
October, 2014
November, 2014
38.25
32.55
28,693.99
38.2
32.45
8588.25
December, 2014
35.9
30.35
27,499.42
35.85
30.25
8564.40
January, 2015
40.9
32.9
29,182.95
38.9
32.55
8952.35
39
32.7
29,361.50
38.9
32.65
8901.85
35.15
26.00
27,957.49
35.20
26.05
8,491.00
February, 2015
March, 2015
Sources: BSE, NSE websites
Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15
60
50
40
30
20
10
0
Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15
Month
Month
High (Rs)
Low (Rs)
10000
9000
8000
7000
6000
5000
4000
3000
2000
0
35,000.00
30,000.00
25,000.00
20,000.00
15,000.00
10,000.00
5,000.00
0.00
Price
60
50
40
30
20
10
0
BSE Sensex
Price
Sensex (closing)
High (Rs)
Low (Rs)
$QQXDO5HSRUW _93
No. of
share
holders
% of
share
holders
1 to 5000
No. of
shares
% of
shares
held
50,318
98.05
21,772,756
7.80
5001 to 10000
518
1.01
3,833,467
1.37
10001 to 20000
248
0.48
3,535,414
1.27
20001 to 30000
95
0.19
2,342,427
0.84
30001 to 40000
24
0.05
860,120
0.31
40001 to 50000
26
0.05
1,199,310
0.43
50001 to 100000
40
0.08
2,880,335
1.03
50
0.10
242,777,391
86.95
51,319
100
279,201,220
100
TOTAL
No. of
shares held
% of
shares
held
15,55,81,772
55.72
Foreign promoters
--
--
--
--
15,55,81,772
55.72
Promoters Holding
Indian promoters
Sub total (1 + 2)
B
Institutional Investors
--
--
27,612
0.01
1,31,86,112
4.72
Institutions)
c
Foreign
Investors
Institutional
Sub-total (3)
4,04,39,806
14.48
5,36,53,530
19.22
Others
2,69,20,029
9.64
Indian Public
4,19,04,684
15.01
10,55,559
0.38
Clearing Members
85,646
0.03
Sub-total (4)
6,99,65,918
25.06
Total B
12,36,19,448
44.28
Grand total (1 + 2 + 3 + 4)
27,92,01,220
100.00
94_$QQXDO5HSRUW
Shareholding
%
0.38 0.01
15.01
9.67
55.72
14.48
4.72
Promoters
Indian Public
Statutory Reports
Corporate Governance
Report
No. of Shares in
Demat & Physical Mode
2.05
97.75
5HJLVWHUHG2
FH
Freedom Registry Limited
Plot No. 101/102, 19th Street, MIDC Area
Satpur, Nashik 422 007
Tel (0253) 2354 032
Fax (0253) 2351 126
E-mail:support@freedomregistry.in
0XPEDL/LDVLRQLQJ2
FH
Freedom Registry Limited
104, Bayside Mall,
35, C. M. M. Malviya Marg,
Tardeo Road, Haji Ali,
Mumbai 400 034
Tel : (022) 2352 5589 / 6743 2799
$QQXDO5HSRUW _95
Name
E-mail ID
Telephone No
Fax No
investor@peninsula.co.in
+91-22-66154651- 53
+91-22-6615 4593
Name
E-mail ID
Telephone No
Fax No
info@peninsula.co.in
+91-22-6615 4651 - 53
+91-22-6615 4593
+91-22-6622 9300
+91-22-6622 9302
Correspondence address:
Peninsula Land Limited
Peninsula Spenta
Mathuradas Mills Compound
Senapati Bapat Marg
Lower Parel, Mumbai 400 013
14.16 Plant Location
The Company has no manufacturing plant.
14.17 Outstanding GDRs / ADRs / Warrants or any
Convertible Instruments
There are no outstanding convertible warrants /
instruments.
14.18 Status of Compliance with Non Mandatory
Requirements
6LQFH WKH QDQFLDO UHVXOWV DUH SXEOLVKHG LQ
newspapers having wide circulation and
simultaneously also uploaded on the website
of the Company and stock exchanges, only
96_$QQXDO5HSRUW
Statutory Reports
Corporate Governance
Report
Declaration regarding Compliance by Board Members and Senior Management Personnel with the Companys
Code of Conduct
To,
The Members of Peninsula Land Limited
Declaration by the Managing Director under Clause 49 of the Listing Agreement
I, Rajeev A. Piramal, Vice Chairman & Managing Director of Peninsula Land Limited hereby declare that all the
PHPEHUVRIWKH%RDUGRI'LUHFWRUVDQG6HQLRU0DQDJHPHQW3HUVRQQHOKDYHDUPHGFRPSOLDQFHZLWKWKH&RGHRI
Conduct for the year ended March 31, 2015.
Rajeev A. Piramal
Vice Chairman & Managing Director
Place: Mumbai
Date: May 9, 2015
$QQXDO5HSRUW _97
&HUWLFDWHRQ&RUSRUDWH*RYHUQDQFH
To The Members of Peninsula Land Limited
We have examined the compliance of conditions of Corporate Governance by Peninsula Land Limited (the
&RPSDQ\IRUWKHQDQFLDO\HDUHQGHGRQ0DUFKDVVWLSXODWHGLQFODXVHRIWKH/LVWLQJ$JUHHPHQW
of the said Company with the Stock Exchanges in India.
The compliance with conditions of Corporate Governance is the responsibility of the management. Our examination
was limited to the procedures and implementation thereof adopted by the Company for ensuring the compliance
RIWKHFRQGLWLRQVRIWKH&RUSRUDWH*RYHUQDQFHWLVQHLWKHUDQDXGLWQRUDQH[SUHVVLRQRIRSLQLRQRQWKHQDQFLDO
statements of the Company.
In our opinion and to the best of our information and according to the explanations given to us and the representations
made by the management, we certify that the Company has complied with the conditions of Corporate Governance
as stipulated in the above mentioned Listing Agreement.
Based on the representation received from the Company, no investor grievance is pending for a period exceeding one
month as on March 31, 2015 against the Company and the Share Transfer Agent have reported to the Stakeholders
Relationship Committee on the status of the grievances.
We further state that such compliance is neither an assurance as to the future viability of the Company nor the
HFLHQF\RUHHFWLYHQHVVZLWKZKLFKWKHPDQDJHPHQWKDVFRQGXFWHGWKHDDLUVRIWKH&RPSDQ\
Place : Mumbai
Date : May 9, 2015
98_$QQXDO5HSRUW
Nilesh Shah
Partner (FCS - 4554)
C.P.No: 2631
Statutory Reports
Corporate Governance
Report
&HUWLFDWHE\0DQDJLQJ'LUHFWRUDQG&)2
To
The Board of Directors
$
:HKDYHUHYLHZHGQDQFLDOVWDWHPHQWVDQGWKHFDVKRZVWDWHPHQWIRUWKH\HDUDQGWKDWWRWKHEHVWRIWKHLU
knowledge and belief:
1.
These statements do not contain any materially untrue statement or omit any material fact or contain
statements that might be misleading;
7KHVHVWDWHPHQWVWRJHWKHUSUHVHQWDWUXHDQGIDLUYLHZRIWKHFRPSDQ\VDDLUVDQGDUHLQFRPSOLDQFHZLWK
existing accounting standards, applicable laws and regulations.
B.
To the best of our knowledge and belief, no transactions entered into by the company during the years which
are fraudulent, illegal or violative of the companys code of conduct.
&
:HDFFHSWUHVSRQVLELOLW\IRUHVWDEOLVKLQJDQGPDLQWDLQLQJLQWHUQDOFRQWUROVIRUQDQFLDOUHSRUWLQJDQGWKDWZH
KDYHHYDOXDWHGWKHHHFWLYHQHVVRILQWHUQDOFRQWUROV\VWHPVWKHFRPSDQ\SHUWDLQLQJWRQDQFLDOUHSRUWLQJDQG
ZH KDYH GLVFORVHG WR WKH DXGLWRUV DQG WKH $XGLW &RPPLWWHH GHFLHQFLHV LQ WKH GHVLJQ RU RSHUDWLRQ RI VXFK
internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify these
GHFLHQFLHV
D.
We have indicated, wherever applicable, to the auditors and the Audit committee:
6LJQLFDQWFKDQJHVLIDQ\LQLQWHUQDOFRQWURORYHUQDQFLDOUHSRUWLQJGXULQJWKH\HDU
6LJQLFDQWFKDQJHVLIDQ\LQDFFRXQWLQJSROLFLHVGXULQJWKH\HDUDQGWKDWWKHVDPHKDYHEHHQGLVFORVHGLQ
WKHQRWHVWRWKHQDQFLDOVWDWHPHQWVDQG
QVWDQFHV RI VLJQLFDQW IUDXG RI ZKLFK ZH KDYH EHFRPH DZDUH DQG WKH LQYROYHPHQW WKHUHLQ LI DQ\ RI
WKHPDQDJHPHQWRUDQHPSOR\HHKDYLQJDVLJQLFDQWUROHLQWKHFRPSDQ\VLQWHUQDOFRQWUROV\VWHPRYHU
QDQFLDOUHSRUWLQJ
Rajeev A. Piramal
9LFH&KDLUPDQ 0DQDJLQJ'LUHFWRU
Bharat Sanghavi
&KLHI)LQDQFLDO2FHU
$QQXDO5HSRUW _99
Standalone
Independant
Auditors Report
2.
3.
4.
2XURSLQLRQLVQRWPRGLHGLQUHVSHFWRIWKHVHPDWWHUV
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report)
Order, 2015 (the Order) issued by the Central
Government of India in terms of sub-section (11)
of Section 143 of the Act, we give in the Annexure, a
VWDWHPHQWRQWKHPDWWHUVVSHFLHGLQSDUDJUDSKV
3 and 4 of the Order, to the extent applicable. The
2UGHULV\HWWREHQRWLHGLQWKH*D]HWWHRIQGLD
2.
b.
F
d.
f.
(ii)
$QQXDO5HSRUW _101
(ii)
(v)
102_$QQXDO5HSRUW
(b)
Standalone
Independant
Auditors Report
(b)
(c)
(d)
(x)
$QQXDO5HSRUW _103
Balance Sheet
as at 31st March 2015
(` in Crores)
Particulars
Note No.
1
2
As at
31st March 2015
As at
31st March 2014
55.90
1450.46
55.90
1476.23
1506.36
3
4
1120.97
2.99
1532.13
750.60
1.35
1123.96
5
6
7
8
364.23
116.93
501.80
12.44
751.95
73.52
103.44
624.76
14.33
995.40
3625.72
816.05
3100.13
Tangible assets
Capital work in progress
Total (A)
Non-current investments
Advance to employees ESOP Trust
Deferred tax Assets (Net) (Refer para no. 16 of note 23)
Long term loans and advances
Total (B)
Current Assets
Inventories
Trade receivables
Cash and Bank balances
Short-term loans and advances
Other current assets
Total (C )
Total (A)+(B)+(C )
6LJQLFDQWDFFRXQWLQJSROLFLHV
1RWHVIRUPLQJSDUWRIDFFRXQWV
53.56
2.26
51.32
1.73
55.82
10
11
12
692.90
37.01
1126.08
53.05
271.26
16.47
16.51
1153.18
1855.99
13
14
15
16
17
998.37
114.66
248.30
170.44
182.14
1457.42
897.15
252.45
222.44
73.26
144.36
1713.91
3625.72
1589.66
3100.13
22
23
Urvi A. Piramal
Chairperson
DIN 00044954
Rajeev A. Piramal
Vice Chairman &
Managing Director
DIN 00044983
Mahesh S. Gupta
Group Managing Director
DIN 00046810
Chetan Desai
Partner
Membership No. 17000
Bhavna Doshi
Director
DIN 00400508
Deepak Summanwar
Director
DIN 02017830
3ODFH0XPEDL
Date : 9th May 2015
Pradipta Mohapatra
'LUHFWRU
DIN 00066239
Bharat Sanghavi
&KLHI)LQDQFLDO2FHU
Rajashekhar Reddy
&RPSDQ\6HFUHWDU\
104_$QQXDO5HSRUW
Standalone
Balance Sheet
6WDWHPHQWVRI3URW /RVV
6WDWHPHQWRI3URWDQG/RVV
for the year ended 31st March 2015
(` in Crores)
Particulars
Note No.
INCOME
Revenue from operations (Gross)
(Refer para no. 7 of note 23)
Other Income
Total Revenue (A)
EXPENSES
Realty cost incurred (Refer para no. 19 of note 23)
&KDQJHVLQQLVKHGJRRGVLQYHQWRU\
Changes in realty work-in-progress
Cost of realty sales (B)
(PSOR\HHEHQHWH[SHQVHV
Finance costs
Depreciation
Other expenses
Expenses (C)
Total expenses D = (B + C)
3URW/RVVEHIRUHWD[ ([FHSWLRQDOWHPV( $'
Exceptional Items Income (F)
3URW/RVV%HIRUH7D[* ()
Less : Tax expense
Current tax
MAT credit entitlement
7D[(HFWRQ'HEHQWXUHLVVXHH[SHQVHV
7D[(HFWRQ'HSUHFLDWLRQ&KDUJHGWR5HVHUYH
7D[(HFWRQ0HUJHU
2014-2015
2013-2014
161.27
18
270.82
132.76
101.55
294.03
181.66
65.17
(166.39)
372.37
707.82
55.12
(649.35)
80.44
19
20
9&10
21
50.41
140.54
7.65
43.32
241.92
322.36
(28.33)
9.86
(18.47)
23(3)(B)
23(3)(A)
Deferred tax
Total tax expense (H)
1HWSURW/RVVDIWHUWD[*+
Earning per equity share - Face value of ` 2 (P.Y. ` 2)
(Refer para no. 17 of note 23)
Basic
Diluted
6LJQLFDQWDFFRXQWLQJSROLFLHV
22
1RWHVIRUPLQJSDUWRIDFFRXQWV
23
113.59
54.57
98.91
5.91
49.29
3.36
0.44
4.55
208.68
322.27
50.10
50.10
10.33
(10.33)
4.16
21.05
8.35
(20.50)
(12.15)
(6.32)
25.21
(24.25)
0.96
49.14
(0.23)
(0.23)
1.76
1.76
Urvi A. Piramal
Chairperson
DIN 00044954
Rajeev A. Piramal
Vice Chairman &
Managing Director
DIN 00044983
Mahesh S. Gupta
Group Managing Director
DIN 00046810
Chetan Desai
Partner
Membership No. 17000
Bhavna Doshi
Director
DIN 00400508
Deepak Summanwar
Director
DIN 02017830
3ODFH0XPEDL
Date : 9th May 2015
Pradipta Mohapatra
'LUHFWRU
DIN 00066239
Bharat Sanghavi
&KLHI)LQDQFLDO2FHU
Rajashekhar Reddy
&RPSDQ\6HFUHWDU\
$QQXDO5HSRUW _105
Particulars
SHARE CAPITAL
Authorised:
39,05,00,000 (P.Y. 39,05,00,000) Equity Shares of ` 2/- Each
20,000 (P.Y. 20,000) 0.01% Non - Cumulative Redeemable Preference Shares of `
10/- Each
1000 (P.Y. 1000) 5% Cumulative Redeemable Preference Shares of ` 10/- each.
31-Mar-15
31-Mar-14
78.10
0.02
78.10
0.02
0.00
78.12
0.00
78.12
55.84
55.84
0.06
55.90
0.06
55.90
0.00
0.00
0.00
55.90
0.00
55.90
VVXHG6XEVFULEHGDQGSDLGXS
Equity Shares :
(a)
(b)
Note :
a
Terms /rights attached to Equity shares
The Company has only one class of equity shares having a par value of ` 2 per share. Each holder of equity share is
entitled to one vote per share. All shares rank pari passu with regard to dividend and repayment of capital.
Board of Directors have recommended a dividend of ` 0.30 (P.Y. ` 0.40 ) per equity share 15% (P.Y. 20%) of Face
value of equity share of ` 2).
b
Equity Shares in the Company held by each shareholders holding more than 5% shares specifying the number
of shares held:
Sr
Name of Share holder
No.
1
Ashok Piramal Group Real Estate Trust
through its Trustee Ms. Urvi A. Piramal
2
Franklin templeton investment funds
3
Templeton Emerging Markets Investment
Trust PLC
106_$QQXDO5HSRUW
31-Mar-15
No. of shares held % of Holding
14 89 29 248
53.34
2 07 09 266
1 55 95 175
7.42
5.59
31-Mar-14
No. of shares held % of Holding
14 89 29 248
53.34
2 07 09 266
1 55 95 175
7.42
5.59
Standalone
Notes
5% Cumulative Redeemable Preference Shares in the Company held by each shareholders holding more
than 5% shares specifying the number of shares held:
Sr
No.
1
31-Mar-15
31-Mar-14
No. of shares held % of Holding No. of shares held % of Holding
Ashok Piramal Group Real Estate Trust
1 000
100%
1 000
100%
through its Trustee Ms. Urvi A. Piramal
31-Mar-15
31-Mar-14
No. of shares held % of Holding No. of shares held % of Holding
Ashok Piramal Group Real Estate Trust
14 89 29 248
53.34
14 89 29 248
53.34
through its Trustee Ms. Urvi A. Piramal
(` in Crores)
31-Mar-15
31-Mar-15
31-Mar-14
1.85
1.85
0.17
609.21
6.52
0.17
617.29
8.08
602.69
73.45
-
609.21
300.00
3.68
230.24
73.45
76.73
38.99
82.78
73.45
32.15
4.56
49.14
120.52
3URWDQG/RVV6WDWHPHQW
As per last Balance Sheet
Less : Proposed Dividend on Equity Shares
Less : Distribution Tax thereon
Less : Proposed Dividend on Preference Shares
Less : Distribution Tax thereon
Less : Short Depreciation as per New Company's
Act -Net of Tax (Refer para (3) (A) of Note 23)
Less : Transfer to General Reserve
Less : Corporate Social Responsibility
(U/S 135 - CSR activity)
Refer para No. 22 of Note 23
Less : Transfer to Debenture Redemption Reserve
Add : Recoupment of Debenture Redemption Reserve
Add : Excess Dividend Provision Reversed
$GG 1HW3URW/RVVIRUWKH\HDU
Total
31-Mar-14
76.73
716.68
8.38
1.71
0.00
0.00
0.85
728.87
11.17
1.90
0.00
0.00
-
3.68
2.02
82.78
38.99
0.02
(6.32)
49.14
4.56
49.14
653.63
1,450.46
716.68
1,476.23
$QQXDO5HSRUW _107
NOTE :
1. The adjustments made to Capital / General reserves pursuant to composite scheme of arrangement and
DPDOJDPDWLRQDUHQHWRIWD[HHFWWKHUHRQRI5V1/3<` 82.13 cr).
7KHDSSOLFDWLRQRI6HFXULWLHV3UHPLXPWRZDUGVGHEHQWXUHLVVXHH[SHQVHVLVQHWRIWD[HHFWWKHUHRQRI` 3.36
Cr (P.Y. ` 4.16 Cr).
Particulars
Long Term Borrowings
Secured Loan
From Banks ( Term Loan )
From Financial Institutions
Debentures
Total
Sr.
No.
I
1
a
2
a
3
a
II
1
a
Particulars
The term loans from Banks are :
From Bank 1
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable over a period of 16
months in varying monthly instalments (P.Y. 28 Months )
Security
Secured against charge on Immovable property (held for real estate development)
belonging to the company (Subsidiary Company till Previous year) and other
Companies for whom the Company has undertaken the project development and
execution and receivable there on from the project.
From Bank 2
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable within NIL months in
varying monthly instalments (P. Y. 82 Months)
Security
By way of mortgage on the company's immovable property and charge on the rent
receivable therefrom
From Bank 3
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable within 15 months in
varying monthly instalments (P. Y. 27)
Security
Secured against charge on Immovable property (held for real estate development)
belonging to the company and other Companies for whom the Company has
undertaken the project development and execution and receivable there on from
the project.
The term loans from Financial Institution :
Loan 1 from Financial Institution
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable over a period of 24
Months in (P.Y. 36 Months) varying periodic instalments.
Security
108_$QQXDO5HSRUW
31-Mar-15
31-Mar-14
13.90
227.97
879.10
1,120.97
174.93
112.84
462.83
750.60
(` in Crores)
31-Mar-14
31-Mar-15
4.00
28.00
96.94
9.90
50.00
166.25
112.84
Standalone
Notes
Sr.
No.
2
a
III
a
Particulars
31-Mar-15
Mortgage of the company's immovable property comprising land and present and
future construction thereon at its project Celestia Spaces sewree, Mumbai and
a charge on the receivable from the said project and Mortgage of Investments
property situated at Peninsula Corporate park - Mumbai
Loan 2 from Financial Institution
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable over a period of 30
Months in (P.Y. NIL Months) varying periodic instalments.
Security
Mortgage of the company's immovable property comprising land and present and
future construction thereon at its project Ashok Astoria Nashik and a charge on the
receivable from the said project.
Debentures
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable over a period of 58
months in varying periodic instalments (P.Y. 57 Months) - Refer note 1 below
Security
(i) Secured against charge on Movable property relating to the project of the company.
(ii) Secured against Immovable property (held for real estate development)
belonging to company, Subsidiary Company and other Companies for whom
the Company has undertaken the project development and execution.
LLL 6HFXUHG DJDLQVW FKDUJH RI PPRYDEOH SURSHUW\ KHOG DV [HG DVVHWV QDPHO\
Piramal Chamber & one unit at Peninsula Centre -Mumbai) belonging to company,
Coupon Rate
For Coupon Rate - Refer note 2 below
61.72
879.10
462.83
Particulars
Redeemable
Redeemable
Redeemable
Redeemable
Redeemable
Total
(` in Crores)
31-Mar-15
121.00
230.30
422.53
105.27
879.10
Coupon Rate
0%
(Redemption premium amortised over repayment period)
12.00%
12.41%
12.87%
13.00%
13.09%
13.30%
13.31%
13.50%
13.75%
Total
(` in Crores)
31-Mar-14
31-Mar-14
103.30
115.53
105.27
138.73
462.83
(` in Crores)
31-Mar-15
31-Mar-14
48.50
48.50
185.00
0.70
180.00
246.38
1.00
190.00
27.52
879.10
0.70
263.80
1.00
20.00
14.00
114.83
462.83
$QQXDO5HSRUW _109
Particulars
31-Mar-15
31-Mar-14
(PSOR\HH%HQHWV5HIHUSDUDQRRIQRWH
2.99
1.35
Total
2.99
1.35
Particulars
Bank Overdraft
31-Mar-15
31-Mar-14
Secured
(i)
18.98
45.78
3.70
126.55
27.74
125.00
90.00
364.23
73.52
(ii)
Security
6HFXUHGDJDLQVWFKDUJHRIPPRYDEOHSURSHUW\KHOGDV[HGDVVHWV3<PPRYDEOH
SURSHUW\KHOGDVUHDOW\QLVKHG*RRGVLQYHQWRU\DQG[HGDVVHWV
Bank Overdraft
Terms of Loan Repayment
Bank Overdraft is repayable on demand
Security
Secured against charge of Fixed Deposit with Bank
Unsecured
a
(i)
Bank Overdraft
Terms of Loan Repayment :
Bank Overdraft is repayable on demand
&RPPHUFLDOSDSHU
(i)
Particulars
MSMED
0.10
116.83
103.44
Total
116.93
103.44
110_$QQXDO5HSRUW
31-Mar-15
31-Mar-14
Standalone
Notes
Particulars
31-Mar-15
31-Mar-14
267.83
16.98
47.29
146.61
2.03
18.89
2.17
501.80
465.85
18.02
37.33
81.65
2.06
17.65
2.20
624.76
Particulars
31-Mar-15
31-Mar-14
2.35
8.38
0.00
1.71
12.44
(PSOR\HH%HQHWV5HIHUSDUDQRRIQRWH
Proposed Dividend on Equity Shares
Proposed Dividend on Preference Shares
Tax Payable on Proposed Dividend
Total
1.26
11.17
0.00
1.90
14.33
As on
01.04.14
DEPRECIATION
As on
31.03.15
Upto
01.04.14
0.06
Acquired Additions
under
during
Merger
Year
Scheme
Charged
to
Reserve
NET BLOCK
Reversal Deductions
on
during
Method
Year
Change
Upto
31.03.15
As on
31.03.15
As on
31.03.14
0.06
0.06
Tangible Assets
Free hold Land
0.06
Building
51.92
51.92
12.28
0.95
6.10
7.13
44.79
39.64
2FH
Equipments &
Computers
14.84
0.53
15.37
8.91
4.24
1.26
2.17
12.24
3.13
5.93
Construction
Equipments
6.50
6.50
5.20
1.30
6.50
1.30
Furniture &
Fixtures
4.39
0.05
4.44
2.55
0.60
0.01
1.12
2.04
2.40
1.84
Motor Vehicles
3.21
0.70
Speed Boat
0.64
3.91
1.26
0.48
0.01
0.45
1.30
2.61
1.95
0.64
0.04
0.05
0.02
0.07
0.57
0.60
1.28
9.86
29.28
53.56
51.32
30.24
51.32
53.42
Total (A)
81.56
1.28
82.84
30.24
7.62
Previous
Year (A)
77.70
3.73
0.12
0.00
81.56
24.28
0.09
5.87
$QQXDO5HSRUW _111
Nos.
Face Value
(`)
(` in Crores)
31-Mar-14
31-Mar-15
III)
5RFNUVW5HDO(VWDWH/LPLWHG
Sukh Sagar Premises Co-operative Hsg. soc. Limited
112_$QQXDO5HSRUW
(2334000)
(2334000)
10000
10000
(-)
2010000
(10000)
56000
(56000)
18000000
(18000000)
10000
(10000)
10000
(10000)
50000
(51400)
(-)
(1400)
(10)
(10)
10
10
(-)
10
(10)
10
(10)
10
(10)
10
(10)
10
(10)
10
(10)
(-)
(10)
72.58
(72.58)
0.01
(0.01)
100.01
0.01
13.96
13.92
16.34
16.34
0.01
0.01
0.01
0.01
0.05
14.05
(14.00)
(70000)
(70000)
(1000000)
(40000)
(40000)
(10)
(10)
(10)
(10)
(10)
0.10
(0.10)
1.00
0.06
(0.06)
2500
(2500)
989300
(989300)
10
(10)
10
(10)
0.00
0.00
6.54
6.54
43750
(43750)
175000
(175000)
14000
(14000)
5
(5)
10
(10)
10
(10)
10
(10)
50
(50)
0.04
0.04
0.18
0.18
0.01
0.01
0.00
0.00
Standalone
Notes
Particulars
Nos.
Others
Ansal Hi-tech Townships Limited
Convertible Debentures fully paid up
20.25%
Secured-Non-
Secured
5RFNUVW5HDO(VWDWH/LPLWHG5HGHHPDEOH1RQ&XPXODWLYH
Participating Non Convertible Preference Shares
'
(
1.
3000
(` in Crores)
31-Mar-14
31-Mar-15
0.00
0.00
1000000
300.00
12680330
100
126.80
126.80
(12680330)
9656855
(100)
10
9.66
9.66
(9656855)
3488450
(10)
100
34.88
34.88
(3488450)
5486981
(100)
100
54.87
54.87
(5486981)
(100)
960
100000
9.60
(-)
264
(-)
100000
2.59
2.59
(264)
35
(100000)
923164
3.23
(-)
(-)
0.02
(20000)
(20000)
(10)
(10)
(0.02)
973500
100
9.74
(-)
10150
(-)
100
0.10
0.10
(10150)
(100)
2.13
(0.01)
2.02
(0.01)
0.04
0.05
19(670(1761'(%(1785(814827(')8//<3$'81/(66
67$7('27+(5:6(
As contribution towards Project
Goodtime Real Estate Development Private Limited 16.75%
Secured Non-Convertible Debentures
25
(25)
Face Value
(`)
25
(25)
$QQXDO5HSRUW _113
Particulars
Nos.
Face Value
(`)
(` in Crores)
31-Mar-14
31-Mar-15
(0.02)
0.39
(0.01)
0.40
(0.00)
2.02
(0.28)
692.90
(0.01)
2.02
(0.24)
271.26
2.
(` in Crores)
Particulars
2014-2015
2013-2014
1.74
1.78
Investments in AOP
2.12
2.01
Investments in LLP
0.41
0.43
688.63
267.03
Total
692.90
271.26
(` in Crores)
2014-2015
3URW6KDULQJ
Ratio
2013-2014
Contribution
3URW6KDULQJ
Ratio
Contribution
50%
2.12
50%
2.02
GSG Builders and Infrastructure Private LimitedAfter Adjusting Loss till current year
50%
0.78
50%
0.79
100%
2.90
100%
2.81
Total
Note 2
Name of Partner
(` in Crores)
2014-2015
3URW6KDULQJ
Ratio
2013-2014
Contribution
50%
0.02
3URW6KDULQJ
Ratio
Contribution
50%
0.04
50%
0.02
50%
0.04
100%
0.04
100%
0.08
Note 3
Name of Partner
(` in Crores)
2014-2015
3URW6KDULQJ
Ratio
40%
2013-2014
Contribution
0.39
3URW6KDULQJ
Ratio
40%
Contribution
0.39
current Year
KB Kothari Group
Total
114_$QQXDO5HSRUW
60%
0.45
60%
0.45
100%
0.84
100%
0.84
Standalone
Notes
(` in Crores)
31-Mar-15
26.84
16.47
10.37
-
31-Mar-14
27.35
0.51
10.37
16.47
c
d
e
f
g
h
Total
NOTE : Total Projects related advances are
(` in Crores)
31-Mar-15
1.81
648.98
754.25
79.30
42.90
55.26
72.84
215.74
8.92
44.42
24.37
60.42
74.69
184.14
9.08
1,126.08
1,153.18
1,016.34
1,043.50
31-Mar-15
12.56
985.81
998.37
31-Mar-14
77.73
819.42
897.15
31-Mar-15
31-Mar-14
31-Mar-14
2.14
(` in Crores)
Trade Receivables outstanding for more than six months since it fell due
Less : Provision for Doubtful debts
(` in Crores)
102.85
(0.14)
102.71
11.95
114.66
a
b
c
II
III
9
a
b
2.56
(0.14)
2.42
250.03
252.45
(` in Crores)
31-Mar-15
31-Mar-14
34.26
162.80
0.26
2.03
0.40
42.49
89.51
0.24
2.06
0.27
32.33
24.54
16.22
248.30
63.33
222.44
$QQXDO5HSRUW _115
b
c
d
e
Particulars
Advances Recoverable in cash or in kind for value to be received
(Where Director is member or Director and LLP where Director is partner or
member)
Loans & Deposit with others
Advances Recoverable in cash or in kind for value to be received
/RDQVWRVWD
(PSOR\HH%HQHWV5HIHUSDUDQRRI1RWH
Total
(` in Crores)
31-Mar-15
0.09
31-Mar-14
0.56
82.99
87.32
0.04
170.44
40.32
32.28
0.06
0.04
73.26
Particulars
Interest Receivable
8QDGMXVWHGWD[HHFWRQFKDUJHWRUHVHUYHXQGHUPHUJHUVFKHPH
Total
(` in Crores)
31-Mar-15
125.60
83.28
56.54
61.08
182.14
144.36
31-Mar-14
(` in Crores)
2014-2015
2013-2014
0.92
2.09
Miscellaneous Income
0.12
2.24
10.38
(0.03)
(0.02)
3URWRQVDOHRIQYHVWPHQWV
6KDUHRI3URW/RVVRI$23//3
Interest Income
121.37
97.24
Total
132.76
101.55
(` in Crores)
2014-2015
41.74
2013-2014
47.26
3.38
2.08
6WD /DERXU:HOIDUH
5.29
5.23
50.41
54.57
Total
116_$QQXDO5HSRUW
(` in Crores)
2014-2015
2013-2014
231.65
160.49
7.72
3.20
239.37
163.69
98.83
64.78
140.54
98.91
Standalone
Notes
(` in Crores)
2014-2015
2013-2014
1.76
1.35
3.50
3.95
1.93
1.48
Insurance
0.23
0.13
Rent
0.81
1.14
1.03
0.84
17.22
16.06
4.05
13.45
4.81
0.15
Donations
0.10
1.09
Miscellaneous Expenses
7.72
9.50
0.16
0.07
0.08
43.32
49.29
Basis of Accounting
7KHVH QDQFLDO VWDWHPHQWV KDYH EHHQ SUHSDUHG LQ DFFRUGDQFH ZLWK WKH *HQHUDOO\ $FFHSWHG $FFRXQWLQJ
3ULQFLSOHVLQQGLDQGLDQ*$$3WRFRPSO\ZLWKWKH$FFRXQWLQJ6WDQGDUGVVSHFLHGXQGHU6HFWLRQRIWKH
Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of
WKH&RPSDQLHV$FW7KHQDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHGXQGHUWKHKLVWRULFDOFRVWFRQYHQWLRQRQ
accrual basis.
II
Use of Estimates
7KHSUHSDUDWLRQRIQDQFLDOVWDWHPHQWVLQFRQIRUPLW\ZLWK*$$3UHTXLUHV0DQDJHPHQWWRPDNHHVWLPDWHVDQG
DVVXPSWLRQV WKDW DHFW WKH UHSRUWHG DPRXQW RI DVVHWV DQG OLDELOLWLHV DQG GLVFORVXUH RI FRQWLQJHQW OLDELOLWLHV
RQWKHGDWHRIQDQFLDOVWDWHPHQWVDQGUHSRUWHGDPRXQWRIUHYHQXHDQGH[SHQVHVIRUWKH\HDU$FWXDOUHVXOWV
FRXOGGLHUIURPWKHVHHVWLPDWHV'LHUHQFHEHWZHHQWKHDFWXDOUHVXOWDQGHVWLPDWHVDUHUHFRJQL]HGLQWKH\HDU
in which results are known /materialized. Any revision to an accounting estimate is recognised prospectively in
the year of revision.
III
Revenue Recognition
(a) The Company is in the business of Real estate Development. Revenue from sale of properties under
FRQVWUXFWLRQLVUHFRJQLVHGRQWKHEDVLVRIDFWXDOERRNLQJVGRQHSURYLGHGWKHVLJQLFDQWULVNVDQGUHZDUGV
have been transferred to the buyer and there is reasonable certainty of realisation of the monies) using the
Percentage of Completion Method. Revenue is recognised in accordance with the guidelines prescribed by
the "Guidance note on Accounting Treatment for real estate transactions (Revised 2012)" issued by
the Institute of Chartered Accountants of India, inter alia , with regard to thresholds for commencement
of revenue recognition for projects and the basis for determining percentage of completion.
E 5HYHQXHIURPVDOHRIFRPSOHWHGSURSHUWLHV)LQLVKHG5HDOW\6WRFNLVUHFRJQLVHGXSRQWUDQVIHURIVLJQLFDQW
risks and rewards to the buyer.
(c)
Revenue on Development Rights is recognised on the basis of our revenue share receivable from the
related projects as per agreed terms and conditions.
(d)
Income from Operations include Realty Sales, Lease Rentals, Service Fees, Signages, Car park and PMC/
Marketing Fees.
(e)
Interest income is recognised on time basis determined by the amount outstanding and the rate applicable.
$QQXDO5HSRUW _117
(f)
Dividend income is recognised when the right to receive the payment is established.
(g)
K 7KH &RPSDQ\V VKDUH LQ SURWV/RVV IURP DQ HQWLWLHV ZKHUH WKH &RPSDQ\ LV D SDUWQHU RU PHPEHU LV
recognised on the basis of such entities audited accounts, as per the relevant law applicable to such entity.
IV
Inventories
(a) Inventories comprise of: (i) Finished Realty Stock representing unsold premises in closed projects and (ii)
Realty Work in Progress representing properties under construction / development.
(b)
F &RVW RI 5HDOW\ FRQVWUXFWLRQ GHYHORSPHQW LV FKDUJHG WR WKH 6WDWHPHQW RI 3URW DQG /RVV LQ SURSRUWLRQ
to the revenue recognised during the period and the balance cost is carried over under Inventory as part
of either Realty Work- in- Progress or Finished Realty Stock. Cost of Realty construction / development
LQFOXGHV DOO FRVWV GLUHFWO\ UHODWHG WR WKH 3URMHFW QFOXGLQJ QDQFH FRVW DWWULEXWDEOH WR WKH SURMHFW DQG
RWKHUH[SHQGLWXUHDVLGHQWLHGE\WKH0DQDJHPHQWZKLFKDUHLQFXUUHGIRUWKHSXUSRVHRIH[HFXWLQJDQG
VHFXULQJWKHFRPSOHWLRQRIWKH3URMHFWQHWRLQFLGHQWDOUHFRYHULHVUHFHLSWVXSWRWKHGDWHRIUHFHLSWRI
RFFXSDWLRQ&HUWLFDWHRI3URMHFWIURPWKHUHOHYDQWDXWKRULWLHV
V
Fixed Assets
(a) Tangible Assets
(i)
Tangible assets are carried at cost of acquisition or construction less accumulated depreciation. The
FRVW RI [HG DVVHWV LQFOXGHV QRQUHIXQGDEOH WD[HV GXWLHV IUHLJKW DQG RWKHU LQFLGHQWDO H[SHQVHV
related to the acquisition and installation of the respective assets. Borrowing cost attributable to
DFTXLVLWLRQRUFRQVWUXFWLRQRI[HGDVVHWVZKLFKWDNHVVXEVWDQWLDOSHULRGRIWLPHWRJHWUHDG\IRUWKHLU
intended use is capitalised.
LL 6XEVHTXHQWH[SHQGLWXUHUHODWHGWRDQLWHPRI[HGDVVHWLVDGGHGWRLWVERRNYDOXHRQO\LILWLQFUHDVHV
WKHIXWXUHEHQHWVIURPWKHH[LVWLQJDVVHWEH\RQGLWVSUHYLRXVO\DVVHVVHGVWDQGDUGRISHUIRUPDQFH
$OORWKHUH[SHQVHVRQH[LVWLQJ[HGDVVHWVLQFOXGLQJGD\WRGD\UHSDLUDQGPDLQWHQDQFHH[SHQGLWXUH
DQGFRVWRIUHSODFLQJSDUWVDUHFKDUJHGWRWKHVWDWHPHQWRISURWDQGORVVIRUWKHSHULRGGXULQJZKLFK
such expenses are incurred.
(iii) Expenses incurred for acquisition of capital assets excluding advances paid towards the acquisition of
[HGDVVHWVRXWVWDQGLQJDWHDFK%DODQFH6KHHWGDWHDUHGLVFORVHGXQGHU&DSLWDO:RUNLQ3URJUHVV
LY *DLQVRUORVVHVDULVLQJIURPGHUHFRJQLWLRQRI[HGDVVHWVDUHPHDVXUHGDVWKHGLHUHQFHEHWZHHQWKH
net disposal proceeds and the carrying amount of the asset and are recognized in the statement of
SURWDQGORVVZKHQWKHDVVHWLVGHUHFRJQL]HG
(b) Intangible Assets
Intangible Assets are recorded at the consideration paid for the acquisition.
VI
Leases
D $VVHWVDFTXLUHGRQOHDVHZKHUHDVLJQLFDQWSRUWLRQRIULVNVDQGUHZDUGVRIRZQHUVKLSDUHUHWDLQHGE\WKH
/HVVRUDUHFODVVLHGDV2SHUDWLQJ/HDVHV/HDVH5HQWDOVDUHFKDUJHGWR6WDWHPHQWRI3URWDQG/RVVRQ
accrual basis.
(b)
118_$QQXDO5HSRUW
Standalone
Notes
Balance useful life from the date of acquisition (date of construction not available)
57 Years
39 Years
For these assets, based on assessment of technical expert, the management believes that the useful
lives as given above best represent the period over which management expects to use these assets.
+HQFHWKHXVHIXOOLYHVIRUWKHVHDVVHWVDUHGLHUHQWIURPWKHXVHIXOOLYHVDVSUHVFULEHGXQGHU3DUW&RI
Schedule II of the Companies Act, 2013.
(ii)
Depreciation is calculated on a pro-rata basis from the date of installation / acquisition till the date the
assets are sold or disposed.
(b) Amortization
(i) Leasehold assets are amortized over the period of lease.
(ii)
Intangible assets are amortized over their estimated useful lives on a straight line basis, commencing
from the date the asset is available to the Company for its use.
9 8QDGMXVWHGWD[HHFWRIDPRXQWVGLUHFWO\GHELWHGWRUHVHUYHV
7KH XQDGMXVWHG WD[ HHFW RI H[SHQVHV GLUHFWO\ FKDUJHG WR UHVHUYHV DUH LQLWLDOO\ FDUULHG IRUZDUG XQGHU RWKHU
FXUUHQWDVVHWVDQGFKDUJHGWRVWDWHPHQWRISURWDQGORVVDVWD[H[SHQVHLQVXEVHTXHQW\HDUVDVDQGZKHQDQG
WRWKHH[WHQWWRZKLFKWKHSURSRUWLRQDWHWD[EHQHWVRIVXFKH[SHQVHVDUHDFFRXQWHG
IX
Investments
QYHVWPHQWVWKDWDUHUHDGLO\UHDOLVDEOHDQGLQWHQGHGWREHKHOGIRUQRWPRUHWKDQD\HDUDUHFODVVLHGDVFXUUHQW
LQYHVWPHQWV$OORWKHULQYHVWPHQWVDUHFODVVLHGDVORQJWHUPLQYHVWPHQWV
Long term investments are carried at cost less any permanent diminution in value. Current investments are
carried at the lower of cost and fair value.
Carrying amount of the individual investment is determined on the basis of the average carrying amount of the
total holding of the investments.
Monetary assets and liabilities denominated in foreign currencies are converted at the closing rate as on
%DODQFH6KHHWGDWH7KHUHVXOWDQWH[FKDQJHGLHUHQFHLVUHFRJQLVHGLQWKH6WDWHPHQWRI3URWDQG/RVV
(c)
Non monetary assets and liabilities denominated in foreign currencies are carried at the exchange rate
prevalent on the date of the transaction.
; (PSOR\HH%HQHWV
D 6KRUW7HUP(PSOR\HH%HQHWV
6KRUWWHUPHPSOR\HHEHQHWVDUHUHFRJQLVHGDVDQH[SHQVHDWWKHXQGLVFRXQWHGDPRXQWLQ6WDWHPHQWRI
3URWDQG/RVVRIWKH\HDULQZKLFKWKHUHODWHGVHUYLFHLVUHQGHUHG
$QQXDO5HSRUW _119
E 3RVW(PSOR\PHQW%HQHWV
Contribution to Provident Fund and Superannuation Scheme are charged against revenue. Provision for
*UDWXLW\LVUHFRUGHGRQWKHEDVLVRIDFWXDULDOYDOXDWLRQFHUWLFDWHSURYLGHGE\WKHDFWXDU\
F 2WKHU/RQJ7HUP(PSOR\HHV%HQHWV
Company's liability towards earned leave is determined by an independent actuary using Projected Unit
Credit Method. Past services are recognised on a straight line basis over the average period until the
EHQHWVEHFRPHYHVWHG$FWXDULDOJDLQVDQGORVVHVDUHUHFRJQLVHGLPPHGLDWHO\LQWKH6WDWHPHQWRI3URW
and Loss as income or expense. Obligation is measured at the present value of the estimated future cash
RZVXVLQJDGLVFRXQWHGUDWHWKDWLVGHWHUPLQHGE\UHIHUHQFHWRWKHPDUNHW\LHOGVDWWKH%DODQFH6KHHW
date on Government Bonds where the currency and terms of the Government Bonds are consistent with
WKHFXUUHQF\DQGHVWLPDWHGWHUPVRIWKHGHQHGEHQHWREOLJDWLRQ
XII Taxation
7D[H[SHQVHVDUHWKHDJJUHJDWHRIFXUUHQWWD[DQGGHIHUUHGWD[FKDUJHGRUFUHGLWHGLQWKHVWDWHPHQWRI3URW
and Loss for the year.
(a) Current Tax
The current charge for Income Tax is calculated in accordance with the relevant tax regulations applicable
to the Company.
(b) Deferred Tax
'HIHUUHGWD[FKDUJHRUFUHGLWUHHFWVWKHWD[HHFWVRIWLPLQJGLHUHQFHVEHWZHHQDFFRXQWLQJLQFRPHDQG
taxable income for the year as require by AS-22 on Accounting for Taxes on Income issued by ICAI. The
deferred tax charge or credit and the deferred tax liabilities or assets are recognised using the tax rates that
have been enacted or substantively enacted by the Balance Sheet date. Deferred tax assets are recognised
only to the extent there is reasonable certainty that the assets can be realised in future, however where
there is unabsorbed depreciation or carry forward of losses, deferred tax assets are recognised only if there
is virtual certainty of realisation of such assets. Deferred tax assets are reviewed at each Balance Sheet date.
(c)
Standalone
Notes
&RPSDQ\3UROH
The Company is primarily engaged in the business of real estate development. The core business activities
are carried out under various business models like own development, through subsidiaries, associates, joint
ventures and joint development and other arrangements with third parties. The company also earns income
from the renting of properties held by it.
In the opinion of the Board, the current assets, loans and advances are approximately of the value stated if
realised in the ordinary course of business. The provisions for all known liabilities are adequate.
3
(HFWLYH$SULOSXUVXDQWWRDQGLQOLQHZLWKWKHUHTXLUHPHQWVRI6FKHGXOHWRWKH&RPSDQLHV$FW
except in case of certain assets as disclosed in Accounting Policy on Depreciation, the company has reviewed
DQGUHYLVHGWKHXVHIXOOLYHVRIWDQJLEOH[HGDVVHWVLQFOXGLQJWKHLUPDMRUFRPSRQHQWVZLWKWKHKHOSRIUHOHYDQW
WHFKQLFDOH[SHUWVDQGHHFWHGWKHIROORZLQJFKDQJHVZLWKUHVSHFWWRSURYLVLRQRIGHSUHFLDWLRQ
(A) In respect of assets where the remaining useful life as on April 1, 2014, is Nil, their carrying amounts after
retaining the residual value if any, aggregating `FURUHVQHWRIWD[HHFWRI` 0.44 crores), has been
adjusted against the opening balance of retained earnings as on that date.
(B) In respect of all other assets, depreciation is provided under the Straight Line Method (SLM). Their carrying
amounts as at April 1, 2014, are depreciated over their remaining useful lives. Pursuant to this, the depreciation
for the year is higher by ` 1.48 crores. There has also been a change of method of charging depreciation from
Written Down Value (WDV) to Straight Line Method (SLM), in respect of certain assets. Hence, as required
by Accounting Standard 6 on Depreciation Accounting, issued by the ICAI, the depreciation on such assets
has been re-computed retrospectively and the resultant surplus as at April1 2014, of ` 9.86 crores has been
FUHGLWHGWRWKHVWDWHPHQWRISURWDQGORVVIRUWKH\HDUDVDQH[FHSWLRQDOLWHP
For the FY 2013-14, the Company had applied to the Central Government under section 309 (5B) of the Companies
Act, 1956 for approval of remuneration paid to three executive directors in excess by ` 3.26 crores, of limits
VSHFLHGLQVHFWLRQUHDGZLWKVHFWLRQRIWKH$FWGXHWRLQDGHTXDWHSURWVIRUWKDW\HDU7KHUHDIWHU
SXUVXDQWWRWKHGLUHFWLRQVIURPWKH0LQLVWU\RI&RUSRUDWH$DLUVWKHFRPSDQ\KDVUHVXEPLWWHGWKHDSSOLFDWLRQ
duly supported with a Special Resolution of Shareholders approving (with more than 98% of the total votes
polled) both the remuneration already paid for FY 2013-14 and proposed to be paid to these directors till
the end of their respective tenure of appointment, which includes ` 4.54 crores paid in excess of the limits,
prescribed under Section 197 (3 ) read with Schedule V of Companies Act, 2013, for FY 2014-15. These approvals
are awaited and the Company shall recover such excess remuneration from the respective Directors during
QDQFLDO\HDULQFDVHRILWVQRQDSSURYDOIURPWKH&HQWUDO*RYHUQPHQW
&ODLPVDJDLQVWWKH&RPSDQ\QRWDFNQRZOHGJHGDVGHEWVLQUHVSHFWRI
i
Disputed claims relating to certain projects
Shortfall undertaking given to Financial Institutions (for an associates)
As At
31.03.2015
5.69
120.00
As At
31.03.2014
5.64
120.00
$QQXDO5HSRUW _121
Recognition of Income and Expenses for on-going projects are based upon actual sales value, estimated costs,
0DQDJHPHQWVMXGJHPHQWRIRYHUDOOSURMHFWSURWDELOLW\DQGZRUNFRPSOHWLRQVWDWXV7KHZRUNFRPSOHWLRQVWDWXV
is determined based on the actual costs incurred vis-a-vis the estimated cost of the project. The estimated costs
RI HYHU\ SURMHFW DUH UHYLHZHG SHULRGLFDOO\ DQG UHYLVHG ZKHQHYHU UHTXLUHG 7KH FRQVHTXHQWLDO HHFW RI VXFK
revision is considered in the year of revision and over the balance future period of the project.
Year Ended
31.03.2015
Realty Sales
123.31
232.52
36.64
35.61
Sale of Services
Realty Rentals
F
2WKHU2SHUDWLQJ5HYHQXH
Total
1.32
2.69
161.27
270.82
Donation includes ` 0.02 Crores (Previous Year ` 0.01 Crores) paid to political parties. The details of
the same are as under:
(` In Crores)
Particulars
Year Ended
31.03.2015
Year Ended
31.03.2014
Shivsena
0.00
0.02
0.01
0.00
0.00
0.00
Year Ended
31.03.2014
Sale of Products
(` In Crores)
0.00
0.00
0.00
Total
0.02
0.01
The company had granted stock options to employees under the Employees Stock Option Scheme 2006 at
grant price of ` 70/- (face value ` 2/-)
The details of options granted, lapsed and in force at the end of the year are as under
Particulars
Current year
Previous year
3,150
3,150
All the grants have lapsed without any exercise of the same. Further, the said ESOP scheme has been cancelled
vide Board resolution dated 26th May 2014, and approved by the shareholders on 27th September 2014.
122_$QQXDO5HSRUW
Standalone
Notes
10
Particulars
Year Ended
31.03.2014
As Auditors
11
A
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
B
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)
(xi)
(xii)
(xiii)
(xiv)
C
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
0.26
0.22
0.07
0.07
)RU&HUWLFDWLRQDQG2WKHU6HUYLFHV
0.01
0.05
0.00
0.01
0.04
0.04
Total
0.38
0.39
Particulars
Subsidary Companies
Peninsula Holdings and Investments Private Limited*
Goodtime Real Estate Development Private Limited*
Pavurotti Real Estate Private Limited*
Renato Finance and Investments Private Limited*
Peninsula Mega Township Developers Limited
Peninsula Mega Properties Private Limited
Flaxo Real Estate Private Limited*
Peninsula Crossroads Private Limited
Total (a)
Step Down Subsidiary Companies
Inox Mercantile Company Private Limited
RR Real Estate Development Private Limited
Peninsula Pharma Research Centre Private Limited
Planetview Mercantile Company Private Limited
Takenow Property Developers Private Limited
Peninsula Mega City Development Private Limited
Midland Township Private Ltd
Peninsula Real Estate Management Private Limited
Sketch Real Estate Pvt Ltd
Peninsula Investment Management Company Limited*
Peninsula Integrated Land Developers Private Limited
Hem Infrastructure and Development Private Limited
Peninsula Facility Management Services Limited
Peninsula Trustee Limited
Total (b)
Companies where Key Management Personnel/their
UHODWLYHVH[HUFLVHVLJQLFDQWLQXHQFH
5RFNUVW5HDO(VWDWH/LPLWHG
Ashok Piramal Management Corporation Limited
Topvalue Brokers Private Limited*
Piramal Land Private Limited
APG Infrastructure Private Limited
Cromwell Tools (I) Private Limited
PMP Auto Components Private Limited
Peninsula SA Realty Private Limited
Pune Football Club Limited
As At
As At
31.03.2015
31.03.2014
(` in Crores)
Max O/s during the year
31.03.2015
31.03.2014
422.46
0.00
34.45
0.49
0.02
440.23
34.38
30.20
10.15
0.49
0.02
447.44
34.57
34.45
10.75
0.49
0.02
528.19
38.01
32.20
10.15
0.49
0.02
457.42
44.39
559.86
44.89
-
44.39
-
87.87
36.05
35.68
28.31
3.18
0.42
0.01
0.02
0.00
0.00
191.54
87.81
35.74
35.60
28.25
3.12
0.42
0.05
0.02
0.00
3.36
0.00
0.00
0.39
194.77
87.87
36.05
35.68
28.31
3.24
0.42
0.05
0.02
6.00
5.16
0.00
0.00
-
87.82
35.74
35.60
28.26
3.12
0.42
0.05
1.01
0.00
3.33
0.00
0.00
0.42
-
16.95
(0.00)
0.00
0.00
0.07
-
18.34
0.28
0.00
0.00
0.00
0.13
0.00
0.04
71.54
0.30
0.00
0.00
0.00
0.13
0.01
0.04
46.80
0.28
0.00
0.00
0.00
0.13
0.00
0.05
$QQXDO5HSRUW _123
(x)
(xi)
(xii)
(xiii)
(xiv)
(xv)
(xvi)
(xvii)
(xviii)
(xix)
(xx)
(xxi)
D
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)
E
(i)
(ii)
(iii)
F
(i)
(ii)
G
(i)
Particulars
Peninsula Townships Development Private Limited
Morarjee Textiles Limited
Ashok Piramal Mega City Development Private Limited
Ashok Piramal Township Development Private Limited
Ashok Piramal Mega Properties Private Limited
CAMS Learning Private Limited
EDUSTAR Learning Private Limited
Bridgepoint Learning Private Limited
Pune Sports Club Private Limited
Goldlife Mercantile Company Private Limited
Miranda Ultra Tools Private Limited
Jammin Recreation Private Limited
Total (c)
(QWHUSULVH RYHU ZKLFK &RPSDQ\ H[HUFLVH VLJQLFDQW
control
Peninsula GSG MHP Project - AOP (50% share)
Argento Real Estate LLP
Gorena Real Estate LLP
Maxis Real Estate LLP
Nebustar Real Estate LLP
Regena Real Estate LLP
Eastgate Real Estate LLP
Westgate Real Estate LLP
Peninsula Land Limited ESOP Trust
MGM ESOP Trust
Total (d)
Joint Venture
Bridgeview Real Estate Development LLP*
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
Total (e)
Associate Companies
JM Realty Management Private Limited
RA Realty Ventures LLP*
Total (f)
Step Down Associate
HEM Bhattad AOP
Total (g)
Grand Total (a+b+c+d+e+f+g)
All loans referred above are repayable on demand
* indicates interest bearing
As At
31.03.2015
0.06
0.01
0.00
0.01
0.00
17.10
31.03.2014
0.02
0.01
0.01
0.01
0.01
0.00
0.00
0.00
(0.01)
0.00
0.00
18.85
31.03.2015
0.02
0.15
0.01
0.01
0.01
0.00
0.00
0.00
-
31.03.2014
0.02
0.37
0.01
0.01
0.01
0.00
0.00
0.00
0.00
0.58
0.00
0.00
1.12
0.00
0.00
0.00
0.00
0.00
0.00
1.12
1.01
0.00
0.00
0.00
0.00
0.00
0.00
24.33
2.51
27.88
1.12
0.00
0.00
0.00
0.00
0.00
0.00
0.02
24.33
2.51
1.02
0.00
0.00
0.00
0.00
0.00
0.00
0.01
24.84
2.51
79.30
79.30
44.42
0.00
0.02
44.44
79.16
0.00
0.03
66.98
0.00
0.02
7.79
207.96
215.75
7.79
176.35
184.14
7.79
207.96
7.79
253.53
15.00
15.00
977.23
1,029.94
15.00
Particulars
12
13
a
Borrowing Cost
(PSOR\HH%HQHW3ODQV
7KH&RPSDQ\KDVFODVVLHGYDULRXVEHQHWSODQVDVXQGHU
'HQHG&RQWULEXWLRQ3ODQ
7KH &RPSDQ\ KDV UHFRJQLVHG WKH IROORZLQJ DPRXQWV LQ 3URW DQG /RVV $FFRXQW
which are included under Contributions to Funds
124_$QQXDO5HSRUW
(` in Crores)
Max O/s during the year
As At
(` in Crores)
Year ended
31.03.2015
98.83
Year ended
31.03.2014
64.78
Standalone
Notes
E
Particulars
Employer's contribution to Provident Fund
Employer's contribution to Superannuation Fund
Employer's contribution to Employees State Insurance
'HQHG%HQHW3ODQ
i.
Gratuity (Funded)
ii
Current Year
2.22
0.25
0.01
(` in Crores)
Previous Year
2.19
0.45
0.01
In terms of the Guidance Note on implementing the revised AS 15, issued by the Accounting Standards
Board of the Institute of Chartered Accountants of India, the Gratuity Trust set up by the Company is
WUHDWHGDVGHQHGEHQHWSODQVLQFHWKH&RPSDQ\KDVWRPHHWWKHVKRUWIDOOLIDQ\+RZHYHUDWWKH\HDU
end, no shortfall remains unprovided for.
Leave encashment is payable to eligible employees who have earned leaves, during the employment and /
or separation as per the Company's policy.
Valuations in respect of Gratuity and Leave Encashment, as at the Balance Sheet date, are based on the
following assumptions.
i
As at
31.03.2015
As at
31.03.2014
7.80%
6%
5% at younger
ages
1% at older ages
8.75%
60 years
Indian Assured
Lives Mortality
(2006-08) Ult.
9.10%
6%
5% at younger
ages
1% at older ages
9%
58 years
Indian Assured
Lives Mortality
(2006-08) Ult.
(` in Crores)
Particulars
As at
31.03.2015
As at
31.03.2014
2.57
2.69
Interest cost
0.21
0.20
0.51
0.47
(0.31)
(0.36)
%HQHWVSDLG
Transfer in Obligation
0.04
0.48
(0.46)
3.47
2.57
$QQXDO5HSRUW _125
(` in Crores)
Particulars
As at
31.03.2015
As at
31.03.2014
(0.48)
0.46
0.03
(0.48)
0.50
(0.48)
0.50
3.33
2.57
3.24
2.61
Funded status
3.24
2.61
0.10
(0.04)
0.51
0.47
Interest cost
0.21
0.20
(0.24)
(0.19)
([SHQVHVUHFRJQLVHGLQ6WDWHPHQWRI3URW /RVV
0.48
(0.50)
([SHQVHVUHFRJQLVHGLQVWDWHPHQWRI3URWDQG/RVV
0.97
(0.02)
Pattern of Investment
Central & State Government Securities
56%
56%
Bonds/Debentures
36%
36%
Equity Shares
6%
6%
2%
2%
0.10
(0.04)
&ODVVLFDWLRQRI/LDELOLW\
Current
Non Current
(` in Crores)
Experience Adjustments
2014-15
2013-14
2012-13
2011-12
2010-11
'HQHG%HQHW2EOLJDWLRQ
3.33
2.57
2.69
4.98
3.42
Plan Assets
3.24
2.61
1.91
2.22
1.57
(0.10)
0.04
(0.78)
(2.76)
(1.85)
0.09
(0.24)
(2.80)
0.88
0.07
(0.03)
0.19
0.03
0.05
6XUSOXV'HFLW
Experience Adjustment on Plan Liabilities
Experience Adjustment on Plan Asset Gain / (Loss)
ii
126_$QQXDO5HSRUW
Standalone
Notes
(` in Crores)
Particulars
As at
31.03.2015
As at
31.03.2014
Assumptions
Mortality
Indian Assured
Lives Mortality
(2006-08) Ult.
Indian Assured
Lives Mortality
(2006-08) Ult.
7.80%
9.10%
6%
6%
60 Years
58 years
3% at younger
ages reducing to
1% at older Ages
3% at younger
ages reducing to
1% at older Ages
10% at younger
ages tapering to
2% at older Ages
10% at younger
ages tapering to
2% at older Ages
Retirement Age
2.61
2.65
Interest Cost
0.18
0.19
0.43
0.40
(0.11)
%HQHWV3DLG
(0.40)
(0.57)
2.53
(0.06)
5.24
2.61
5.24
2.61
5.24
2.61
Current
2.25
1.26
Non Current
2.99
1.35
0.43
0.40
([SHQVHVUHFRJQLVHGLQ6WDWHPHQWRI3URW /RVV$FFRXQW
Current service cost
Past service cost
0.18
0.19
Interest Cost
2.53
(0.06)
Employee's Contribution
7RWDOH[SHQVHVUHFRJQLVHGLQ3URW /RVVDFFRXQW
3.14
0.53
$QQXDO5HSRUW _127
(` in Crores)
Experience Adjustments
'HQHG%HQHW2EOLJDWLRQ
Plan Assets
6XUSOXV'HFLW
Experience Adjustment on Plan Liabilities
Experience Adjustment on Plan Asset Gain / (Loss)
2014-15
5.24
(5.24)
2.16
-
2013-14
2.61
(2.61)
0.11
-
2012-13
2.65
(2.65)
0.99
-
2011-12
1.38
(1.38)
0.38
-
2010-11
1.76
(1.76)
0.15
-
Note: As the Company does not have plan assets for leave encashment policy, disclosures pertaining to plan assets
are not shown.
14
Subsidiary Companies
(i) Peninsula Holdings and Investments Private Limited
(ii) Renato Finance and Investments Private Limited (ceased to be a subsidiary from 01/10/2014)
(iii) Peninsula Mega Properties Private Limited
(iv) Peninsula Crossroads Private Limited
(v) Pavurotti Real Estate Private Limited
(vi) Goodtime Real Estate Development Private Limited
(vii) Peninsula Mega Township Developers Limited
(viii) Flaxo Real Estate Private Limited (ceased to be subsidiary from 01/10/2014 and step down subsidiary
till 31/07/2014)
III
9
(QWHUSULVHVRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWUROWUHDWHGDVVXEVLGLDULHVIRUFRQVROLGDWLRQ
(i) Argento Real Estate LLP
(ii) Gorena Real Estate LLP
(iii) Maxis Real Estate LLP
(iv) Nebustar Real Estate LLP
(v) Regena Real Estate LLP
(vi) Eastgate Real Estate LLP
(vii) Westgate Real Estate Developers LLP
(viii) Peninsula GSG MHP Project - AOP (50% share)
128_$QQXDO5HSRUW
Standalone
Notes
Associate Companies with whom the Company had transactions during the year
(i) JM Realty Management Private Limited
(ii) SEW Engineering (India) Private Limited
(iii) RA Realty Ventures LLP
VI
Step Down Associates with whom the Company had transactions during the year
(i) HEM Bhattad AOP
9 &RPSDQLHVZKHUH.H\0DQDJHPHQW3HUVRQQHOWKHLUUHODWLYHVH[HUFLVHVLJQLFDQWLQXHQFH
(i) Ashok Piramal Management Corporation Limited
(ii) Freedom Registry Limited
(iii) Morarjee Textiles Limited
(iv) Thundercloud Technologies (India) Private Limited
(v) Peninsula SA Realty Private Limited
(vi) Peninsula Townships Development Private Limited
YLL 5RFNUVW5HDO(VWDWH/LPLWHG
(viii) Ashok Piramal Mega City Development Private Limited
(ix) Ashok Piramal Mega Properties Private Limited
(x) Ashok Piramal Township Development Private Limited
(xi) Goldlife Mercantile Company Private Limited
(xii) Pune Football Club Limited
(xiii) Topvalue Brokers Private Limited
(xiv) CAMS Learning Private Limited
(xv) EDUSTAR Learning Private Limited
(xvi) Bridgepoint Learning Private Limited
(xvii) Piramal Land Private Limited
(xviii) Highway Concessions One Private Limited (Formerly known as Piramal Roads Infra Private Limited)
(xix) APG Infrastructure Private Limited
(xx) Cromwell Tools (I) Private Limited
(xxi) Miranda Few Tools Private Limited
(xxii) Miranda Ultra Tools Private Limited
(xxiii) PMP Auto Components Private Limited
[[LY3HQLQVXOD%URRNHOG&DSLWDO$GYLVRUV/LPLWHG
(xxv) Topvalue Real Estate Development Limited
(xxvi) Powerjet Carriers and Transporters Private Limited
(xxvii) Delta Corp Limited
VIII Joint Venture
(i) Bridgeview Real Estate Development LLP
LL 3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHGHTXLW\LVKHOGWKURXJKZKROO\RZQHGVXEVLGLDU\
LLL 3HQLQVXOD %URRNHOG QYHVWPHQW 0DQDJHUV 3ULYDWH /LPLWHG HTXLW\ LV KHOG WKURXJK ZKROO\ RZQHG
subsidiary)
; (QWHUSULVHVZKHUH.H\0DQDJHPHQW3HUVRQQHOWKHLUUHODWLYHVH[HUFLVHVLJQLFDQWLQXHQFH
(i) Ashok G. Piramal Trust
(ii) Peninsula Land Limited ESOP Trust
(iii) Urvi Ashok Piramal Foundation
(iv) Morarjee Goculdas Spinning and Weaving Company Limited Senior ESOP Trust
X
$QQXDO5HSRUW _129
XI
I
a
(i)
(ii)
(iii)
II
a
(i)
b
(i)
(ii)
(iii)
(iv)
c
(i)
III
a
(i)
b
(i)
(ii)
IV
a
(i)
(ii)
V
a
(i)
VI
a
(i)
(ii)
(iii)
(iv)
b
(i)
(ii)
Particulars
Income received from
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHO WKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Rent from Morarjee Textiles Limited
Rent from Highway Concessions One Private Limited
Rent/Licence fee from PMP Auto Component Private Limited
Procurement of Goods / Services from
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Peninsula Facility Management Services Limited
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Freedom Registry Limited
Pune Football Club Limited
- Advertisement
Ashok Piramal Management Corporation Limited
Highway Concessions One Private Limited
$VVRFLDWH&RPSDQLHV
SEW Engineering (India) Private Limited
Payment made to
$VVRFLDWH&RPSDQLHV
SEW Engineering (India) Private Limited
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Freedom Registry Limited
Ashok Piramal Management Corporation Limited
Reimbursement made to
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Peninsula Investment Management Company Limited
Peninsula Facility Management Services Limited
Donation made to
(QWHUSULVHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Urvi Ashok Piramal Foundation
Loan given to
6XEVLGDU\&RPSDQLHV
Peninsula Holdings and Investments Private Limited
Goodtime Real Estate Development Private Limited
Pavurotti Real Estate Private Limited
Renato Finance and Investments Private Limited
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Sketch Real Estate Private Limited
City Parks Private Limited
130_$QQXDO5HSRUW
(` in Crores)
2013-14
2014-15
1.43
0.01
0.15
1.43
0.14
0.03
0.08
0.10
0.07
9.92
1.80
-
0.00
1.48
3.54
1.92
4.64
0.10
1.80
0.01
0.01
-
2.02
0.74
11.02
2.57
0.07
0.25
86.07
38.17
2.02
0.36
6.00
-
20.00
72.42
Standalone
Notes
(iii)
c
(i)
d
(i)
e
(i)
(ii)
(iii)
(iv)
(v)
f
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
g
(i)
VII
a
(i)
(ii)
(iii)
(iv)
(v)
b
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
c
(i)
d
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
Particulars
Others
$VVRFLDWH&RPSDQLHV
RA Realty Ventures LLP
6WHS'RZQ$VVRFLDWH
HEM Bhattad AOP
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
5RFNUVW5HDO(VWDWH/LPLWHG
Ashok Piramal Management Corporation Limited
Thundercloud Technologies (India) Private Limited
Peninsula SA Realty Private Limited
Topvalue Brokers Private Limited
(QWHUSULVHRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
Argento Real Estate LLP
Gorena Real Estate LLP
Maxis Real Estate LLP
Nebustar Real Estate LLP
Regena Real Estate LLP
Eastgate Real Estate Developers LLP
Westgate Real Estate Developers LLP
Peninsula GSG MHP Project - AOP (50% share)
-RLQW9HQWXUH
Bridgeview Real Estate Development LLP
Loan repaid by
6XEVLGDU\&RPSDQLHV
Peninsula Holdings and Investments Private Limited
Goodtime Real Estate Development Private Limited
Pavurotti Real Estate Private Limited
Renato Finance and Investments Private Limited
Flaxo Real Estate Private Limited
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Sketch Real Estate Private Limited
Peninsula Facility Management Services Limited
Peninsula Real Estate Management Private Limited
City Parks Private Limited
Inox Mercantile Company Private Limited
Peninsula Investment Management Company Limited
Takenow Property Developers Private Limited
Midland Township Private Limited
$VVRFLDWH&RPSDQLHV
RA Realty Ventures LLP
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
5RFNUVW5HDO(VWDWH/LPLWHG
Ashok Piramal Mega Properties Private Limited
Ashok Piramal Township Development Private Limited
Thundercloud Technologies (India) Private Limited
Peninsula SA Realty Private Limited
Peninsula Townships Development Private Limited
Pune Football Club Limited
Topvalue Brokers Private Limited
3.24
(` in Crores)
2013-14
6.11
9.53
119.60
15.00
52.66
0.01
0.00
0.00
10.47
0.08
-
0.03
0.11
0.00
0.00
0.00
0.00
0.00
0.00
0.02
0.08
30.04
43.92
30.33
38.47
0.46
10.40
46.26
151.31
5.58
2.00
0.12
0.54
6.00
0.01
0.01
0.00
0.23
0.05
20.00
1.02
0.08
1.79
0.00
-
0.01
107.69
0.52
0.30
0.00
0.01
0.01
0.02
0.04
0.00
40.85
-
2014-15
$QQXDO5HSRUW _131
(i)
(ii)
(ii)
f
(i)
(ii)
(iii)
IX
Particulars
3HQLQVXOD%URRNHOG&DSLWDO$GYLVRUV/LPLWHG
(QWHUSULVHRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
Westgate Real Estate Developers LLP
(QWHUSULVH ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Peninsula Land Limited ESOP Trust
Morarjee Goculdas Spinning and Weaving Company Limited Senior ESOP Trust
-RLQW9HQWXUH
Bridgeview Real Estate Development LLP
Expenses incurred on behalf of
6XEVLGDU\&RPSDQLHV
Peninsula Mega Properties Private Limited
Peninsula Crossroads Private Limited
Pavurotti Real Estate Private Limited
Goodtime Real Estate Development Private Limited
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Peninsula Investment Management Company Limited
Takenow Property Developers Private Limited
Peninsula Trustee Limited
Peninsula Integrated Land Developers Private Limited
RR Real Estate Development Private Limited
Peninsula Real Estate Management Private Limited
Peninsula Mega City Development Private Limited
Midland Township Private Limited
Hem Infrastructure and Development Private Limited
Peninsula Facility Management Services Limited
(QWHUSULVHVRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
Argento Real Estate LLP
Gorena Real Estate LLP
Maxis Real Estate LLP
Nebustar Real Estate LLP
Regena Real Estate LLP
Eastgate Real Estate Developers LLP
Westgate Real Estate Developers LLP
$VVRFLDWH&RPSDQLHV
RA Realty Ventures LLP
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Morarjee Textiles Limited
5RFNUVW5HDO(VWDWH/LPLWHG
Others
-RLQW9HQWXUH
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
Bridgeview Real Estate Development LLP
Investments made in Preference Shares
a
(i)
X
a
(i)
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Peninsula Investment Management Company Limited
Expenses incurred on our behalf
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Peninsula Facility Management Services Limited
(ix)
e
(i)
f
(i)
(ii)
g
(i)
VIII
a
(i)
(ii)
(iii)
(iv)
b
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)
c
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
d
(i)
e
132_$QQXDO5HSRUW
0.00
(` in Crores)
2013-14
-
0.03
0.02
13.96
2.51
2.36
38.05
0.15
0.11
1.42
0.00
0.00
0.00
-
0.00
0.00
0.04
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.10
0.58
0.52
0.07
0.81
0.00
0.22
0.02
0.70
0.00
0.01
-
9.74
0.01
2014-15
Standalone
Notes
b
(i)
XI
a
(i)
b
(i)
(ii)
c
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)
d
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
e
(i)
(ii)
XII
a
(i)
XIII
a
(i)
(ii)
(iii)
(iv)
(v)
b
(i)
(ii)
c
(i)
Particulars
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Ashok Piramal Management Corporation Limited
Expenses incurred on behalf reimbursed by
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Peninsula Trustee Limited
6XEVLGLDU\&RPSDQLHV
Peninsula Crossroads Private Limited
Peninsula Facility Management Services Limited
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Morarjee Textiles Limited
Peninsula Land Limited ESOP Trust
Pune Football Club Limited
Thundercloud Technologies (India) Private Limited
Miranda Few Tools Private Limited
Miranda Ultra Tools Private Limited
PMP Auto Components Private Limited
Ashok Piramal Mega Properties Private Limited
Ashok Piramal Management Corporation Limited
Topvalue Brokers Private Limited
(QWHUSULVHVRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
Argento Real Estate LLP
Gorena Real Estate LLP
Maxis Real Estate LLP
Nebustar Real Estate LLP
Regena Real Estate LLP
Eastgate Real Estate Developers LLP
Westgate Real Estate Developers LLP
-RLQW9HQWXUH
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
Loan Repaid to
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Highway Concessions One Private Limited
Interest income from
(interest income has been converted into loan at the year end, which is not
included in amount disclosed under head loan given below)
Subsidary Companies
Peninsula Holdings and Investments Private Limited
Goodtime Real Estate Development Private Limited
Renato Finance and Investments Private Limited
Pavurotti Real Estate Private Limited
Flaxo Real Estate Private Limited
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
City Parks Private Limited *
Peninsula Investment Management Company Limited
$VVRFLDWH&RPSDQLHV
RA Realty Ventures LLP
(` in Crores)
2013-14
2014-15
0.00
0.00
0.15
0.03
0.13
-
0.53
0.11
0.28
-
0.87
0.51
0.05
0.01
0.00
0.00
0.02
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.05
0.00
0.00
3.53
1.54
0.10
0.00
4.54
1.24
1.69
1.79
1.22
4.78
17.85
0.04
21.93
26.95
$QQXDO5HSRUW _133
d
(i)
e
(i)
XIV
(i)
(ii)
(iii)
(iv)
(v)
XV
(i)
(ii)
(iii)
(iv)
XVI
(i)
(ii)
(iii)
(iv)
(v)
(vi)
XVII
a
(i)
(ii)
b
(i)
c
(i)
XVIII
A
a
(i)
B
a
(i)
C
a
(i)
D
a
(i)
b
(i)
Particulars
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
5RFNUVW5HDO(VWDWH/LPLWHG
-RLQW9HQWXUH
Bridgeview Real Estate Development LLP
Remuneration to Key Management Personnel
Ms. Urvi A. Piramal
Mr. Rajeev A. Piramal
Mr. Mahesh S. Gupta
Mr. Bharat S. Sanghavi
Mr. Rajashekar Reddy
Dividend Paid to Key Management Personnel
Ms. Urvi A. Piramal
Mr. Rajeev A. Piramal
Mr. Mahesh S. Gupta
Mr. Bharat S. Sanghavi
Dividend Paid to Relatives of Key Management Personnel
Mr Harshvardhan A Piramal
Mr Nandan A Piramal
Mr Jaydev Mody
Ms Kalpana Singhania
Mrs Sunita Gupta
Mr. Nishith Sanghavi
Dividend Paid to
Controlling Entity
Ashok Piramal Group Real Estate Trust through its trustees Ms Urvi A Piramal and
Mr Harshvardhan A Piramal (Equity)
Ashok Piramal Group Real Estate Trust through its trustees Ms Urvi A Piramal and
Mr Harshvardhan A Piramal (Preference)
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Powerjet Carriers and Transporters Private.Limited
(QWHUSULVHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Morarjee Goculdas Spinning & Weaving Company Limited Senior ESOP Trust
through its trustees Ms Urvi A Piramal and Mr Mahesh S Gupta
Transactions involving collaterals obtained and guarantees given
Collaterals obtained from:
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
City Parks Private Limited *
Collateral released to:
6XEVLGLDU\&RPSDQLHV
Pavurotti Real Estate Private Limited
Guarantees given to - shortfall undertaking
$VVRFLDWH&RPSDQLHV
RA Realty Ventures LLP
Outstanding collaterals obtained from:
6XEVLGLDU\&RPSDQLHV
Pavurotti Real Estate Private Limited
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
RR Real Estate Development Private Limited
134_$QQXDO5HSRUW
(` in Crores)
2013-14
2014-15
4.38
3.16
6.63
6.41
4.26
2.29
2.98
0.80
0.43
4.26
2.32
2.96
0.75
0.33
0.11
0.04
0.00
0.00
0.42
0.14
0.00
0.00
0.04
0.04
0.00
0.04
0.00
0.14
0.14
0.00
0.00
0.13
0.00
5.96
22.34
0.00
0.00
0.04
0.15
66.91
30.40
15.09
120.00
78.53
108.93
79.00
79.00
Standalone
Notes
E
a
(i)
XIX
I
A
a
(i)
(ii)
(iii)
B
a
(i)
(ii)
II
A
a
(i)
(ii)
b
(i)
c
(i)
(ii)
d
(i)
(ii)
(iii)
(iv)
(v)
(vi)
e
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)
f
(i)
(ii)
(iii)
(iv)
(v)
Particulars
Outstanding guarantees given to - shortfall undertaking
$VVRFLDWH&RPSDQLHV
RA Realty Ventures LLP
Outstanding balances as at March 31,2015
Payable by Company to
For Services received
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Freedom Registry Limited
Ashok Piramal Management Corporation Limited
Delta Corp Limited
)RU5HLPEXUVHPHQWRI([SHQVHV
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Miranda Ultra Tools Private Limited
Goldlife Mercantile Company Private Limited
Receivable by Company
Loans
$VVRFLDWH&RPSDQLHV
JM Realty Management Private Limited
RA Realty Ventures LLP
6WHS'RZQ$VVRFLDWH
HEM Bhattad AOP
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
5RFNUVW5HDO(VWDWH/LPLWHG
Ashok Piramal Management Corporation Limited
6XEVLGDU\&RPSDQLHV
Peninsula Holdings and Investments Private Limited
Goodtime Real Estate Development Private Limited
Flaxo Real Estate Private Limited
Pavurotti Real Estate Private Limited
Renato Finance and Investments Private Limited
Peninsula Mega Township Developers Limited
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Inox Mercantile Company Private Limited
RR Real Estate Development Private Limited
Peninsula Pharma Research Centre Private Limited
Planetview Mercantile Company Private Limited
Takenow Property Developers Private Limited
Peninsula Mega City Development Private Limited
Midland Township Private Limited
Peninsula Real Estate Management Private Limited
Sketch Real Estate Private Limited
Peninsula Investment Management Company Limited
(QWHUSULVHRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
Peninsula GSG MHP Project - AOP (50% share)
Argento Real Estate LLP
Gorena Real Estate LLP
Maxis Real Estate LLP
Nebustar Real Estate LLP
(` in Crores)
2013-14
2014-15
120.00
120.00
0.00
2.39
0.00
2.39
0.00
0.01
0.00
0.01
7.79
207.96
7.79
176.35
15.00
16.95
-
18.34
0.28
422.46
0.00
34.45
0.49
440.23
34.38
44.39
30.20
10.15
0.49
87.87
36.05
35.68
28.31
3.18
0.42
0.01
0.02
87.81
35.74
35.60
28.25
3.12
0.42
0.05
0.02
0.00
3.36
1.12
0.00
0.00
0.00
0.00
1.01
0.00
0.00
0.00
0.00
$QQXDO5HSRUW _135
(i)
(ii)
D
a
(i)
E
a
Particulars
Regena Real Estate LLP
Eastgate Real Estate Developers LLP
Peninsula Land Limited ESOP Trust
Morarjee Goculdas Spinning and Weaving Company Limited Senior ESOP Trust
-RLQW9HQWXUH
Bridgeview Real Estate Development LLP
)RU5HLPEXUVHPHQWRI([SHQVHV
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Piramal Land Private Limited
Cromwell Tools (I) Private Limited
PMP Auto Components Private Limited
Peninsula SA Realty Private Limited
Pune Football Club Limited
Peninsula Townships Development Private Limited
Morarjee Textiles Limited
Ashok Piramal Mega City Development Private Limited
Ashok Piramal Township Development Private Limited
Ashok Piramal Mega Properties Private Limited
CAMS Learning Private Limited
EDUSTAR Learning Private Limited
Highway Concessions One Private Limited
Pune Sports Club Private Limited
Ashok Piramal Management Corporation Limited
6XEVLGDU\&RPSDQLHV
Peninsula Mega Properties Private Limited
6WHS'RZQ6XEVLGLDU\&RPSDQLHV
Peninsula Integrated Land Developers Private Limited
Hem Infrastructure and Development Private Limited
-RLQW9HQWXUH
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
7RZDUGV6DOHV6HUYLFHV
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHOWKHLU UHODWLYHV H[HUFLVH
VLJQLFDQWLQXHQFH
Highway Concessions One Private Limited
Morarjee Textiles Limited
7RZDUGV$GYDQFHDJDLQVWVHUYLFHVVXSSOLHV
$VVRFLDWH&RPSDQ\
SEW Engineering (India) Private Limited
Towards Debentures and Accrued Interest thereon
&RPSDQLHV ZKHUH .H\ 0DQDJHPHQW 3HUVRQQHO WKHLU UHODWLYHV H[HUFLVH
(i)
VLJQLFDQWLQXHQFH
5RFNUVW5HDO(VWDWH/LPLWHG
(vi)
(vii)
(viii)
(ix)
g
(i)
B
a
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
(ix)
(x)
(xi)
(xii)
(xiii)
(xiv)
(xv)
b
(i)
c
(i)
(ii)
d
(i)
(ii)
C
a
136_$QQXDO5HSRUW
0.00
0.00
-
(` in Crores)
2013-14
0.00
0.00
26.84
2.51
79.30
44.42
0.00
0.00
0.07
0.06
0.01
0.00
0.01
0.01
-
0.00
0.00
0.13
0.00
0.04
0.02
0.01
0.01
0.01
0.01
0.00
0.00
0.00
0.28
0.02
0.02
0.00
0.00
0.00
0.00
0.00
0.02
0.02
0.00
0.02
0.01
0.73
(1.14)
60.27
60.27
2014-15
Standalone
Notes
XX Resources/Premises sharing with related parties Transactions involving resource/premise sharing with
undermentioned related parties which are for non monetary consideration
a
Subsidiaries and Step Down Subsidiaries
(i) Peninsula Mega Properties Private Limited
(ii) Peninsula Holdings and Investments Private Limited
(iii) Renato Finance and Investments Private Limited (ceased to be a subsidiary from 01/10/2014)
(iv) Inox Mercantile Company Private Limited
(v) Peninsula Facility Management Services Limited
(vi) Peninsula Investment Management Company Limited
(vii) Peninsula Mega Township Developers Limited
(viii) Peninsula Pharma Research Centre Private Limited
(ix) Peninsula Trustee Limited
(x) Planetview Mercantile Company Private Limited
(xi) RR Mega Property Developers Private Limited
(xii) RR Real Estate Development Private Limited
(xiii) Takenow Property Developers Private Limited
(xiv) Peninsula Mega City Development Private Limited
(xv) Peninsula Real Estate Management Private Limited
(xvi) Peninsula Crossroads Private Limited
(xvii) Goodtime Real Estate Development Private Limited
(xviii) Flaxo Real Estate Private Limited (ceased to be a subsidiary from 01/10/2014)
(xix) Peninsula Integrated Land Developers Private Limited
E &RPSDQLHVZKHUH.H\0DQDJHPHQW3HUVRQQHOWKHLUUHODWLYHVH[HUFLVHVLJQLFDQWLQXHQFH
(i) Ashok Piramal Management Corporation Limited
(ii) Thundercloud Technologies (India) Private Limited
(iii) Peninsula SA Realty Private Limited
(iv) Peninsula Townships Development Private Limited
Y 5RFNUVW5HDO(VWDWH/LPLWHG
(vi) Ashok Piramal Mega City Development Private Limited
(vii) Ashok Piramal Mega Properties Private Limited
(viii) Ashok Piramal Township Development Private Limited
(ix) Goldlife Mercantile Company Private Limited
(x) Jammin Recreation Private Limited
(xi) Pune Football Club Limited
(xii) Topvalue Brokers Private Limited
(xiii) Peninsula Mega City Development Private Limited
(xiv) CAMS Learning Private Limited
(xv) EDUSTAR Learning Private Limited
(xvi) Bridgepoint Learning Private Limited
F (QWHUSULVHVRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
(i) Argento Real Estate LLP
(ii) Gorena Real Estate LLP
(iii) Maxis Real Estate LLP
(iv) Nebustar Real Estate LLP
(v) Regena Real Estate LLP
(vi) Eastgate Real Estate Developers LLP
(vii) Westgate Real Estate Developers LLP
(viii) Peninsula GSG MHP Project - AOP (50% share)
d
Joint Venture
(i) Bridgeview Real Estate Development LLP
LL 3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
LLL 3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
* Merged With PLL
$QQXDO5HSRUW _137
15
Leases
a
Assets taken on Operating Lease
Future minimum lease payments under non - cancellable operating lease are as under:
(` In Crores)
Particulars
As At
31.03.2015
As At
31.03.2014
0.12
0.43
/DWHUWKDQRQH\HDUDQGQRWODWHUWKDQYH\HDUV
0.07
0.10
-
/DWHUWKDQYH\HDUV
Total
0.19
0.53
Particulars
As At
31.03.2015
As At
31.03.2014
33.21
22.46
/DWHUWKDQRQH\HDUDQGQRWODWHUWKDQYH\HDUV
45.81
1.83
-
/DWHUWKDQYH\HDUV
Total
79.02
26.23
16
Particulars
Opening Deferred Tax Liability / (Asset)
$GG'LHUHQFHEHWZHHQERRN:'9DQG:'9DVSHUQFRPH7D[$FW
Add: Unabsorbed Business Loss
As at
31.03.2015
(16.51)
As at
31.03.2014
7.74
(1.62)
(0.46)
(21.63)
(23.14)
(0.45)
0.90
(0.94)
(0.25)
(37.01)
(16.51)
138_$QQXDO5HSRUW
Standalone
Notes
Deferred Tax Assets include ` 44.81 crores (PY ` 23.21 crores) on account of unabsorbed tax losses. Such tax losses
include losses recorded consequent to the scheme of merger of certain Group Companies with the Company in an
earlier year. Based on realistic estimates of future stream of earnings only from (a) the currently operational projects
and (b) sale of a plot of land, which is at an advance stage of negotiations, the management considered that it is
YLUWXDOO\FHUWDLQWKDWWKH&RPSDQ\ZLOOJHQHUDWHVXFLHQWWD[DEOHLQFRPHWRXWLOLVHVXFKWD[ORVVHV
17
3URWDIWHUWD[EHIRUHH[WUDRUGLQDU\LWHP
Less: Preference Share Dividend and Dividend Distribution tax thereon
2013-14
(6.32)
49.14
0.00
0.00
(6.32)
49.14
(6.32)
49.14
0.00
0.00
(6.32)
49.14
Basic
27 92 01 220
27 92 01 220
Diluted
3URWDIWHUWD[DIWHUH[WUDRUGLQDU\LWHP
Less: Preference Share Dividend and Dividend Distribution tax thereon
2014-15
:HLJKWHG$YHUDJH1XPEHURI6KDUHV
27 92 01 220
27 92 01 220
(0.23)
1.76
(0.23)
1.76
(0.23)
1.76
(0.23)
1.76
18
Particulars
As at
31.03.2015
As at
31.03.2014
0.10
0.00
0.00
0.00
0.10
0.00
$QQXDO5HSRUW _139
19
The details of cost of Realty Sales and Work in Progress (Realty Stock) are as under:
(` In Crores)
Particulars
2014-1 5
2013-14
5HDOW\&RVWVLQFXUUHGGXULQJWKH\HDU
Cost of Acquisition of Development Rights
Land Cost (includes ` Nil acquired under merger PY ` 522.27 crores)
0.10
6.74
523.47
Material Costs (includes ` Nil crores acquired under merger PY `10.87 crores)
25.82
21.43
Development Costs & Other Expenses (includes ` Nil acquired under merger PY ` 72.94
crores)
52.78
90.45
Interest and Other Borrowing Costs (includes ` Nil acquired under merger PY ` nil) *
98.83
64.78
4.13
0.95
181.66
707.82
77.73
132.85
819.42
170.07
897.15
302.92
12.57
77.73
Closing Inventory :
Finished Realty Stock
Work in Progress
985.80
819.42
998.37
897.15
(101.22)
(594.23)
80.44
113.59
67.64
57.85
Sub-total (ii)
Changes in Inventory (B) = (i-ii)
&RVWVFDSLWDOLVHG7UDQVIHUUHGWR3 /&
20
77.22
61.94
bbbbbbbbbbbb
bbbbbbbbbbbbb
(` In Crores)
Particulars
2014-15
2013-14
0.77
0.30
Others
0.31
0.43
21
Particulars
(` In Crores)
2014-15
2013-14
Dividend
0.05
0.12
479
364
11 97 018
8 25 705
2013-14
2012-13
22
140_$QQXDO5HSRUW
Standalone
Notes
Gross amount required to be spent by the company during the year ` 3.00 Crores
Sr No
Particulars
In cash
(i)
(ii)
Yet to be paid
in cash
-
2.02
(` In Crores)
Total
2.02
The Company undertakes its Corporate Social Responsibility (CSR) activities through Urvi Ashok Piramal foundation.
The foundation operates in areas of health, vocational skill training, environment and education. The Company has
contributed ` 2.02 crores (previous year ` 0.74 crores) to the foundation for undertaking CSR activities. The amount
expended during the year on CSR activity is lower by ` 0.98 crores, in view of the loss incurred during the year.
23
Segment Reporting
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GLVFORVXUHLVSURYLGHGLQQRWHVWRFRQVROLGDWHGQDQFLDOVWDWHPHQWV
24
MAT Credit Entitlement of ` 55.26 crores (Previous year ` 60.42 crores) is based on future performance of the
Company as projected by the Management which has been relied upon by the Auditors.
25
Particulars
Assets
2014-15
217.92
2013-14
189.23
214.41
1.65
6.41
189.20
0.00
0.01
Liabilities
Income
Expense
26 3UHYLRXV \HDU JXUHV KDYH EHHQ UHJURXSHG UHFODVVLHG ZKHUHYHU QHFHVVDU\ WR FRQIRUP WR FXUUHQW \HDU
V
FODVVLFDWLRQ
27 7KHJXUHVKDYHEHHQURXQGHGRWRWZRGHFLPDOVLQFURUHV
28 7KH&RPSDQ\LVUHJLVWHUHGZLWK0LQLVWU\RI&RUSRUDWH$DLUVXQGHU&1/0+3/&
Urvi A. Piramal
Chairperson
DIN 00044954
Rajeev A. Piramal
Vice Chairman &
Managing Director
DIN 00044983
Mahesh S. Gupta
Group Managing Director
DIN00046810
Chetan Desai
Partner
Membership No. 17000
Bhavna Doshi
Director
DIN 00400508
Deepak Summanwar
Director
DIN 02017830
3ODFH0XPEDL
Date : 9th May 2015
Pradipta Mohapatra
'LUHFWRU
DIN 00066239
Bharat Sanghavi
&KLHI)LQDQFLDO2FHU
Rajashekhar Reddy
&RPSDQ\6HFUHWDU\
$QQXDO5HSRUW _141
Particulars
CASH FLOW FROM OPERATING ACTIVITIES
1HWSURWEHIRUH7D[
Adjustments for :
Add :
Depreciation
Adjustment on Merger
Interest expenses
Loss of AOP/ LLP
2014-2015
2014-2015
2013-2014
(28.33)
7.65
140.54
0.03
50.10
5.91
(303.85)
98.91
148.22
Less:
Dividend Income
3URW/RVVRQVDOHRIQYHVWPHQWV
CSR Expenses Charged to Reserve
Interest Income
2SHUDWLQJSURWEHIRUHZRUNLQJFDSLWDOFKDQJHV
Adjustments for :
Less:
(Incease)/Decrease in Trade Receivables
(Incease)/Decrease in Inventories
(Incease)/Decrease in Loans & Advances (Long term)
(Incease)/Decrease in Loans & Advances (Short term)
(Incease)/Decrease in Other current Assets
Incease/(Decrease) in Trade Payables
Incease/(Decrease) in Long Term Provision
Incease/(Decrease) in Other Current Liabilities
Incease/(Decrease) in Short term provision
0.92
10.38
2.02
121.37
142_$QQXDO5HSRUW
(199.03)
2.09
97.24
134.69
(14.80)
137.79
(101.22)
23.68
(54.38)
13.49
1.64
65.13
1.09
99.33
(248.26)
(155.86)
(594.23)
560.76
3.10
(19.71)
(1.13)
86.26
0.32
87.22
72.42
(13.37)
59.05
(` in Crores)
2013-2014
(1.81)
(100.05)
(312.83)
(9.74)
16.47
(0.11)
(120.65)
11.39
94.63
39.32
(0.13)
0.92
79.05
(120.49)
(368.75)
(16.26)
(385.01)
2.83
(13.98)
(9.99)
0.24
(0.05)
(0.40)
0.51
(0.08)
(97.91)
272.14
19.25
(0.20)
2.09
97.17
(303.54)
271.62
Standalone
Cash Flow Statement
Particulars
C
2014-2015
2014-2015
(11.17)
(1.90)
(6.52)
0.02
(3.36)
(130.58)
65.00
250.00
(290.00)
(340.38)
555.00
(155.93)
117.00
(28.33)
290.71
2013-2014
(` in Crores)
2013-2014
(41.85)
(7.12)
(8.08)
(4.16)
(84.72)
135.00
40.00
(313.39)
257.00
(18.23)
102.87
(29.69)
66.85
309.56
65.07
132.25
34.26
162.80
0.26
94.48
(18.91)
151.16
42.49
89.52
0.24
197.32
132.25
NOTE : 1 During the Previous year 2013-2014 Company has invested ` 14.18 Cr in Subsidiary Companies and same have been
cancelled under Composite scheme of Arrangement and amalgamation u/s 391 to 394 of the Companies Act 1956 .Hence the
VDLGWUDQVDFWLRQVDUHQRWUHHFWHGLQWKHFDVKRZVWDWHPHQWV
As per our attached report of even date
Urvi A. Piramal
Chairperson
DIN 00044954
Rajeev A. Piramal
Vice Chairman &
Managing Director
DIN 00044983
Mahesh S. Gupta
Group Managing Director
DIN 00046810
Chetan Desai
Partner
Membership No. 17000
Bhavna Doshi
Director
DIN 00400508
Deepak Summanwar
Director
DIN 02017830
3ODFH0XPEDL
Date : 9th May 2015
Pradipta Mohapatra
'LUHFWRU
DIN 00066239
Bharat Sanghavi
&KLHI)LQDQFLDO2FHU
Rajashekhar Reddy
&RPSDQ\6HFUHWDU\
$QQXDO5HSRUW _143
Auditors Responsibility
Our responsibility is to express an opinion on these
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While conducting the audit, we have taken into account
the provisions of the Act, the accounting and auditing
standards and matters which are required to be
included in the audit report under the provisions of the
Act and the Rules made thereunder.
We conducted our audit in accordance with the
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of the Act. Those Standards require that we comply
with ethical requirements and plan and perform the
audit to obtain reasonable assurance about whether
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material misstatement.
An audit involves performing procedures to obtain
audit evidence about the amounts and disclosures in
WKHFRQVROLGDWHGQDQFLDOVWDWHPHQWV7KHSURFHGXUHV
selected depend on the auditors judgment, including
the assessment of the risks of material misstatement
RI WKH FRQVROLGDWHG QDQFLDO VWDWHPHQWV ZKHWKHU GXH
to fraud or error. In making those risk assessments,
WKH DXGLWRU FRQVLGHUV LQWHUQDO QDQFLDO FRQWURO
relevant to the Holding Companys preparation of
WKH FRQVROLGDWHG QDQFLDO VWDWHPHQWV WKDW JLYH D WUXH
and fair view in order to design audit procedures that
are appropriate in the circumstances but not for the
purpose of expressing an opinion on whether the
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FRQWUROVV\VWHPRYHUQDQFLDOUHSRUWLQJLQSODFHDQGWKH
RSHUDWLQJHHFWLYHQHVVRIVXFKFRQWUROV$QDXGLWDOVR
includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting
estimates made by the Holding Companys Board of
Directors, as well as evaluating the overall presentation
RIWKHFRQVROLGDWHGQDQFLDOVWDWHPHQWV
We believe that the audit evidence obtained by us and
the audit evidence obtained by the other auditors in
terms of their report referred to in sub-paragraph (a)
RIWKH2WKHU0DWWHUVSDUDJUDSKEHORZLVVXFLHQWDQG
DSSURSULDWH WR SURYLGH D EDVLV IRU RXU TXDOLHG DXGLW
RSLQLRQRQWKHFRQVROLGDWHGQDQFLDOVWDWHPHQWV
%DVLVIRU4XDOLHG2SLQLRQ
7KH FRQVROLGDWHG QDQFLDO VWDWHPHQWV GR QRW LQFOXGH
WKHQDQFLDOVWDWHPHQWVRIDQ$VVRFLDWHRQDFFRXQWRI
Consolidated
Independent
Balance
Sheet
Auditors Report
6WDWHPHQWVRI3URW /RVV
2.
3.
4.
Other Matter
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VWDWHPHQWV FRQVROLGDWHG QDQFLDO LQIRUPDWLRQ
RI RQH VXEVLGLDU\ FRPSDQ\ ZKRVH QDQFLDO
VWDWHPHQWV QDQFLDO LQIRUPDWLRQ UHHFW WRWDO
assets of ` 675.27 crores as at March 31, 2015,
(b)
(c)
(d)
(e)
Consolidated
Independent
Balance
Sheet
Auditors Report
6WDWHPHQWVRI3URW /RVV
HQWLWLHVLQFRUSRUDWHGLQQGLDLVGLVTXDOLHGDV
on March 31, 2015 from being appointed as a
director in terms of Section 164 (2) of the Act;
(f)
iii.
Chetan Desai
Partner
Membership No. 017000
Place: Mumbai
Date: May 9, 2015
$QQXDO5HSRUW _147
(a)
(b)
(ii)
(a)
148_$QQXDO5HSRUW
(b)
Consolidated
Balance
Sheet
Independent
6WDWHPHQWVRI3URW /RVV
Auditors Report
Nature of the
dues
Amount
(` in Crores)
(b)
Period to which
the amount
relates
Due Date
Date of Payment
Advance Tax
0.01
0.00
(c)
(i)
$QQXDO5HSRUW _149
Nature of dues
Amount
(` in
Crores)
Period to which
the amount relates
Income Tax
0.12
Service Tax
0.23
Penalty u/s 77
0.00
)RUXPZKHUHGLVSXWHLVSHQGLQJ
Penalty u/s 78
0.23
Service Tax
0.03
Service Tax
0.03
Service Tax
0.01
(d)
150_$QQXDO5HSRUW
Consolidated
Balance
Sheet
Independent
6WDWHPHQWVRI3URW /RVV
Auditors Report
Chetan Desai
Partner
Membership No. 017000
Place: Mumbai
Date: May 9, 2015
$QQXDO5HSRUW _151
Note No.
1
2
As at
31st March 2015
(` in Crores)
As at
31st March 2014
55.90
1,414.56
3.58
55.90
1,442.75
3.47
3
4
5
1,429.55
0.05
3.34
6
7
8
9
375.58
128.43
704.37
12.46
10
11
12
1,474.04
133.30
1,432.94
1,220.84
4,261.12
86.64
0.01
105.18
2.26
13
511.38
35.26
495.48
14
15
16
17
18
19
23.59
2,174.58
127.28
293.25
188.97
217.24
24
25
194.09
1,042.12
3,024.91
4,261.12
851.04
1.68
81.33
107.66
722.16
14.34
82.11
0.01
105.24
7.11
498.40
16.47
14.78
447.04
21.56
1,322.24
266.15
278.03
77.91
204.93
1,502.12
61.65
852.72
925.49
3,341.98
194.47
976.69
2,170.82
3,341.98
Urvi A. Piramal
Chairperson
DIN 00044954
Rajeev A. Piramal
Vice Chairman &
Managing Director
DIN 00044983
Mahesh S. Gupta
Group Managing Director
DIN 00046810
Chetan Desai
Partner
Membership No. 17000
Bhavna Doshi
Director
DIN 00400508
Deepak Summanwar
Director
DIN 02017830
3ODFH0XPEDL
Date : 9th May 2015
Pradipta Mohapatra
'LUHFWRU
DIN 00066239
Bharat Sanghavi
&KLHI)LQDQFLDO2FHU
Rajashekhar Reddy
&RPSDQ\6HFUHWDU\
152_$QQXDO5HSRUW
Consolidated
Balance Sheet
6WDWHPHQWVRI3URW /RVV
&RQVROLGDWHG6WDWHPHQWRI3URWDQG/RVV
for the year ended 31st March 2015
(` in Crores)
Particulars
INCOME
Revenue from operations (Gross) (Refer para no. 8 of note 25)
Other Income
Total Revenue (A)
EXPENSES
3XUFKDVHRIWUDGHGQLVKHGJRRGV
&KDQJHVLQWUDGHGQLVKHGJRRGV
Total changes in traded goods (B)
Realty cost incurred (Refer para no. 22 of Note 25)
&KDQJHVLQQLVKHG*RRGV
Changes in realty work -in- progress
Total Cost of realty sales (C)
(PSOR\HHEHQHWH[SHQVHV
Finance costs
Depreciation
Other expenses
Expenses (D)
Total Expenses E = (B+C+D)
3URW/RVVEHIRUHWD[ ([FHSWLRQDOWHPV) $(
Exceptional Items (G)
3URW/RVVEHIRUHWD[+ )*
Less : Tax expense
Current tax
MAT credit entitlement
7D[(HFWRQ'HEHQWXUHLVVXHH[SHQVHV
7D[(HFWRQ'HSUHFLDWLRQ&KDUJHGWR5HVHUYH
7D[(HFWRQ0HUJHU6FKHPH
Deferred tax
Total tax expense (I)
3URW/RVVDIWHUWD[%HIRUH0LQRULW\3URWDQG6KDUH
LQ$VVRFLDWHV3URW+
$GG6KDUHLQSURWORVVRIDVVRFLDWHVFRPSDQLHV
/HVV6KDUHRIPLQRULW\LQSURW/RVV
1HW3URW/RVV$IWHU7D[EHIRUHSULRUSHULRGH[SHQVHLQFRPH
Prior Period expenses /(income)
1HW/RVV3URW$IWHU7D[
Earning per equity share - Face value of ` 2 (P.Y. ` 2)
(Refer para no. 20 of Note no. 25)
Basic
Diluted
6LJQLFDQWDFFRXQWLQJSROLFLHV
Notes forming part of accounts
Note
No.
20
2014-2015
167.01
135.91
302.92
0.14
0.14
932.92
65.17
(917.65)
21
22
10 & 11
23
80.44
53.48
140.60
10.65
50.35
255.08
335.66
(32.74)
9.88
(22.86)
25 (4) (B)
25 (4) (A)
2013-2014
1.01
3.36
0.44
4.55
279.33
105.68
385.01
0.00
0.01
4.40
55.11
54.08
57.20
104.95
6.53
57.10
0.01
113.59
225.78
339.38
45.63
45.63
12.63
(10.33)
4.16
9.36
(20.49)
(11.13)
(11.73)
24
25
21.05
27.51
(24.24)
3.27
42.36
0.24
2.94
(8.55)
(8.55)
0.24
(0.78)
41.82
(0.01)
41.83
(0.31)
(0.31)
1.50
1.50
Urvi A. Piramal
Chairperson
DIN 00044954
Rajeev A. Piramal
Vice Chairman &
Managing Director
DIN 00044983
Mahesh S. Gupta
Group Managing Director
DIN 00046810
Chetan Desai
Partner
Membership No. 17000
Bhavna Doshi
Director
DIN 00400508
Deepak Summanwar
Director
DIN 02017830
3ODFH0XPEDL
Date : 9th May 2015
Pradipta Mohapatra
'LUHFWRU
DIN 00066239
Bharat Sanghavi
&KLHI)LQDQFLDO2FHU
Rajashekhar Reddy
&RPSDQ\6HFUHWDU\
$QQXDO5HSRUW _153
1.
(a)
(b)
VVXHG6XEVFULEHGDQGSDLGXS
Equity Shares :
Balance at the Beginning of the year
27,92,01,220 (P.Y. 27,92,01,220) Equity Shares of `2/- Each Fully paid up
Includes 13,33,20,055 (P.Y. 13,33,20,055) Shares of Rs 2/- Each issued pursuant to
6FKHPHVRI$UUDQJHPHQWIRUFRQVLGHUDWLRQRWKHUWKDQFDVKLVVXHGSULRUWRYH
year from this balance sheet date
Add:Forfeiture of Shares
Balance at the end of the year (a)
Preference Shares :
Balance at the Beginning of the year
1,000 (P.Y. 1,000) 5% Cumulative Redeemable Preference Shares of ` 10/- each
pursuant to Scheme of Arrangement for consideration other than cash
Balance at the end of the year (b)
Balance at the end of the year total share capital - (a)+(b)
31-Mar-15
31-Mar-14
78.10
0.02
78.10
0.02
0.00
78.12
0.00
78.12
55.84
55.84
0.06
55.90
0.06
55.90
0.00
0.00
0.00
55.90
0.00
55.90
Note :
Equity Shares in the Company held by each shareholders holding more than 5% shares specifying the number
of shares held:
Sr No. Name of Share holder
1
2
3
154_$QQXDO5HSRUW
31-Mar-15
31-Mar-14
% of Holding
53.34
2 07 09 266
1 55 95 175
7.42
5.59
7.42
5.59
Consolidated
Notes
5% Cumulative Redeemable Preference Shares in the Company held by each shareholders holding more
than 5% shares specifying the number of shares held:
Sr No. Name of Share holder
1
31-Mar-15
31-Mar-14
% of Holding
1 000
100%
1 000
% of Holding
100%
31-Mar-15
31-Mar-14
% of Holding
14 89 29 248
53.34
14 89 29 248
% of Holding
53.34
31-Mar-15
31-Mar-15
31-Mar-14
31-Mar-14
&DSLWDO5HVHUYH
As per last Balance Sheet
2.50
-
2.50
&DSLWDO5HGHPSWLRQ5HVHUYH
0.17
0.17
6HFXULWLHV3UHPLXP5HVHUYH
As per last Balance Sheet
Less : Applied towards Expenses on issue of
Debentures
609.21
617.29
6.52
8.08
602.69
609.21
*HQHUDO5HVHUYH
As per last Balance Sheet
73.44
300.00
$GG 7UDQVIHUIURP6WDWHPHQWRI3URWDQG/RVV
3.68
230.24
73.44
73.44
'HEHQWXUH5HGHPSWLRQ5HVHUYH
As per last Balance Sheet
76.73
32.15
38.99
4.56
$GG 7UDQVIHUIURP6WDWHPHQWRI3URWDQG/RVV
82.78
49.14
120.52
76.73
0.63
0.62
$GG 7UDQVIHUIURP6WDWHPHQWRI3URWDQG/RVV
0.01
0.63
/HVV7UDQVIHUWR6WDWHPHQWVRI3URWDQG/RVVRQ
disposal of subsidiary
0.63
3URWDQG/RVV6WDWHPHQW
As per last Balance Sheet
682.57
625.39
8.38
11.17
1.71
1.90
$QQXDO5HSRUW _155
(` in Crores)
Particulars
31-Mar-15
31-Mar-15
31-Mar-14
31-Mar-14
0.00
0.00
0.00
0.00
1.03
3.68
82.78
49.14
0.01
Less : Corporate Social Responsibility (U/S 135 CSR activity) (Refer para No. 25 of Note 25)
2.02
65.00
11.69
0.02
38.99
4.56
(8.55)
41.83
0.63
617.74
682.57
1414.56
1442.75
NOTE :
1. The adjustments made to Capital / General reserves pursuant to composite scheme of arrangement and
amalgamation are net of tax impact thereon of ` NIL (P.Y. ` 82.13 Cr)
2.
The application of Securities Premium towards debenture issue expenses is net of tax impact thereon of `3.36
Cr (P.Y. ` 4.16 Cr)
Particulars
Secured Loan
31-Mar-15
31-Mar-14
237.56
227.97
112.84
Debentures
1104.10
462.83
Total I
1391.05
813.23
II
8QVHFXUHG/RDQ
Others
38.50
37.81
Total II
38.50
37.81
1429.55
851.04
156_$QQXDO5HSRUW
Consolidated
Notes
(` in Crores)
Sr
No.
Particulars
I
A
1
a
2
a
3
a
4
a
B
1
a
2
a
From Bank 2
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable within NIL months (P.Y.
82 months) in varying monthly instalments
Security
By way of mortgage on the company's immovable property and charge on the rent
receivable therefrom
From Bank 3
Terms of Loan Repayment
Outstanding balance at balance sheet date is payable in varying monthly
installments within 15 Months (P.Y. 27 Months)
Security
Secured against charge of Immovable property (held for real estate development)
of project undertaken by company and other Companies for whom the Company
has undertaken the project development and execution and receivable there on
from the project.
From Bank 4
Terms of Loan Repayment
Loan shall be repaid by way of 24 equal monthly instalments within NIL months
from balance sheet date (P.Y. 36 Months)
Security
First and equitable/registered mortgage charge on immovable properties being
land and building situated ' thereon known as Bishop gate Plot 'Malabar & Cumballa
hill division located at ' bhulabhai desai road Mumbai. Exclusive hypothecation of '
present and future receivables arising out of the above property
The term loans from Financial Institution are
Loan 1 from Financial Institution
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable over a period of 30
Months in (P.Y. NIL Months) varying periodic instalments.
Security
Mortgage of the company's immovable property comprising land and present and
future construction thereon at its project Ashok Astoria Nashik and a charge on the
receivable from the said project.
Loan 2 from Financial Institution
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable over a period of 24
Months in (P.Y. 36 Months) varying periodic instalments.
31-Mar-15
31-Mar-14
4.00
28.00
96.94
9.90
50.00
45.08
62.63
61.72
166.25
112.84
$QQXDO5HSRUW _157
(` in Crores)
Sr
No.
Particulars
Security
Mortgage of the company's immovable property comprising land and present and
future construction thereon at its project Celestia Spaces sewree , Mumbai and
a charge on the receivable from the said project and Mortgage of Investments
property situated at Peninsula Corporate park - Mumbai
Debentures
Terms of Loan Repayment
Outstanding balance as at balance sheet date is repayable over a period of 72
months in varying periodic instalments (P.Y. 57) - (Refer note 1 below)
Security
(i) Secured against charge on Movable property relating to the project of the company.
C
a
c
II
A
a
31-Mar-15
1104.10
462.83
38.50
37.81
(ii) Secured against Immovable property (held for real estate development)
belonging to company, Subsidiary Company and other Companies for whom
the Company has undertaken the project development and execution.
LLL6HFXUHGDJDLQVWFKDUJHRIPPRYDEOHSURSHUW\KHOGDV[HGDVVHWVQDPHO\3LUDPDO
Chamber & one unit at Peninsula Centre -Mumbai ) belonging to the company ,
Coupon Rate
For Coupon (Rate - Refer note 2 below)
Unsecured Loan
Others
Terms of Loan Repayment
/RDQLVUHSD\DEOHIURPWKHSURMHFWLQRZRIWKHFRPSDQ\
Particulars
Redeemable
Redeemable
Redeemable
Redeemable
Redeemable
Redeemable
Total
(` in Crores)
31-Mar-15
225.00
121.00
230.30
422.53
105.27
1,104.10
31-Mar-14
Coupon Rate
0%
(Redemption premium amortised over repayment period)
12.00%
12.41%
12.87%
13.00%
13.09%
13.30%
13.31%
13.50%
13.75%
16.75%
Total
158_$QQXDO5HSRUW
31-Mar-14
103.30
115.53
105.27
138.73
462.83
(` in Crores)
31-Mar-15
31-Mar-14
48.50
48.50
185.00
0.70
180.00
246.38
1.00
190.00
27.52
225.00
1104.10
0.70
263.80
1.00
20.00
14.00
114.83
462.83
Consolidated
Notes
(` in Crores)
Sr
No.
Particulars
31-Mar-15
0.05
Total
0.05
31-Mar-14
(` in Crores)
Sr
No.
Particulars
31-Mar-15
(PSOR\HH%HQHWV5HIHUSDUDQRRIQRWH
3.34
1.68
Total
3.34
1.68
Particulars
Bank Overdraft
31-Mar-14
(` in Crores)
31-Mar-15
31-Mar-14
Secured
(i)
18.98
45.79
3.70
11.35
126.55
35.54
125.00
90.00
375.58
81.33
Security
6HFXUHGDJDLQVWFKDUJHRIPPRYDEOHSURSHUW\KHOGDV[HGDVVHWV3<PPRYDEOH
SURSHUW\KHOGDVUHDOW\QLVKHG*RRGVLQYHQWRU\DQG[HGDVVHWV
b
(i)
Bank Overdraft
Terms of Loan Repayment :
Bank Overdraft is repayable on demand
(ii)
Security
Bank Overdraft
(ii)
Security
'First and equitable/registered mortgage charge on immovable properties being
land and building situated' thereon known as Bishop gate Plot 'Malabar & Cumballa
hill division located at ' bhulabhai desai road Mumbai. Exclusive hypothecation of '
present and future receivables arising out of the above property
Unsecured
Bank Overdraft
(i)
b
(i)
&RPPHUFLDOSDSHU
Terms of Loan Repayment :
Repayable wihin one year from balance sheet date
c
(i)
$QQXDO5HSRUW _159
Particulars
(` in Crores)
31-Mar-15
31-Mar-14
MSMED
0.11
0.00
128.32
107.66
Total
128.43
107.66
Particulars
(` in Crores)
31-Mar-15
31-Mar-14
290.88
469.23
20.55
26.48
117.97
37.33
242.81
161.95
Unpaid Dividends
2.03
2.06
21.96
21.55
8.17
3.56
704.37
722.16
Total
(` in Crores)
Sr
No.
Particulars
(PSOR\HH%HQHWV5HIHUSDUDQRRI1RWH
2.37
1.27
8.38
11.17
0.00
0.00
160_$QQXDO5HSRUW
31-Mar-15
31-Mar-14
1.71
1.90
12.46
14.34
223.03
289.44
TOTAL (A)
Previous Year
(A)
3.73
1.29
0.00
0.70
0.05
0.12
0.10
5.46
0.00
5.43
0.03
70.24
0.09
0.09
0.12
0.38
0.38
223.03
229.31
0.64
3.91
4.49
6.50
16.40
91.15
0.06
0.48
105.18
0.50
As on
31.03.15
29.20
35.66
0.04
1.26
2.59
5.20
9.74
15.87
0.46
0.50
Upto
1.04.14
0.09
5.87
7.62
0.05
0.48
0.60
1.30
4.24
0.95
1.43
0.01
0.01
1.41
9.88
0.02
0.45
1.12
2.19
6.10
0.58
2.96
0.02
0.15
2.78
0.01
0.07
0.31
0.31
DEPRECIATION
35.66
37.48
0.07
1.30
2.10
6.50
13.04
13.50
0.00
0.47
0.50
Upto
31.03.15
(` in Crores)
As on
31.03.14
0.60
1.95
1.85
1.30
6.50
69.85
0.06
0.01
187.36 260.24
191.83 187.36
0.57
2.61
2.39
3.36
77.65
0.06
0.01
105.18 105.24
As on
31.03.15
NET BLOCK
* Deduction during the year in goodwill includes ` NIL (P. Y. ` 70.24 Crores) attributable to reversal of cost of investments due to merger of subsidiary
pursuant to Composite scheme of arrangement and Amalgamation u/s 391 to 394 of the Companies Act 1956.
3.21
0.64
Motor Vehicles
Speed Boat
4.44
Furniture &
Fixtures
0.54
85.72
16.24
6.50
0.06
0.48
105.24
0.50
As on
1.04.14
Construction
Equipments
2FH
Equipments &
Computers
Building
Tangible
Assets
Computer
Software
Goodwill on
Consolidation *
Goodwill
Intangible
Assets
Description
GROSS BLOCK
Notes
Consolidated
$QQXDO5HSRUW _161
5RFNUVW5HDO(VWDWH/LPLWHG
RR Mega City Builders Limited
Sukh Sagar Premises Co-operative Hsg. soc. Limited
Top Value Real Estate Limited
Truewin Realty Limited.
The Shamrao Vithal Co operative Bank Limited
%
(i)
19(670(1761'(%(1785(814827(')8//<3$'81/(66
67$7('27+(5:6(
As contribution towards Project
GoodHome Realty Limited - 0% Unsecured Redeemable
Optionally Fully Convertible Debentures fully paid up
JM Township & Real Estate Private Limited - 0% Unsecured
Redeemable Optionally Fully Convertible Debentures
162_$QQXDO5HSRUW
Nos.
Face Value
(`)
5000
(5000)
989300
(989300)
10
(10)
10
(10)
43750
(43750)
14000
(14000)
175000
(175000)
1750000
(1750000)
5381900
(5381900)
14000
(14000)
14000
(14000)
5
(5)
14000
(14000)
14000
(14000)
25
(25)
10
(10)
10
(10)
10
(10)
10
(10)
10
(10)
10
(10)
10
(10)
50
(50)
10
(10)
10
(10)
25
(25)
12680330
(` in Crores)
31-Mar-14
31-Mar-15
10.57
10.33
0.04
0.04
0.01
0.01
0.18
0.18
20.00
20.00
8.07
8.07
0.01
0.01
0.01
0.01
0.00
0.00
0.01
0.01
0.01
0.01
0.00
0.00
100
126.81
126.81
(12680330)
9656855
(100)
10
9.65
9.65
(9896855)
3488450
(10)
100
34.88
34.88
(3488450)
5486981
(100)
100
54.87
54.87
(5486981)
11669510
(100)
100
116.70
116.70
Consolidated
Notes
Particulars
Nos.
Others
Ansal Hi-tech Townships Limited
Convertible Debentures fully paid up
20.25%
Secured-Non-
&
5RFNUVW5HDO(VWDWH/LPLWHG5HGHHPDEOH1RQ&XPXODWLYH
Participating Non - Convertible Preference Shares
RR Mega City Builders Limited - 2% Non Cumulative Participating
Redeemable Non - Convertible Preference shares
Top Value Real Estate Limited - 2% Non cumulative Participating
Redeemable Non - Convertible Preference shares
Truewin Realty Limited - 2% Non cumulative Participating
Redeemable Non - Convertible Preference shares
'
(11669510)
897135
Face Value
(`)
(100)
100
(897135)
(100)
960
(` in Crores)
31-Mar-14
8.97
8.97
100000
9.60
(-)
264
(-)
100000
2.59
2.59
(264)
35
(100000)
923164
3.23
35270
100
0.35
0.35
(35270)
(100)
5000000
10
5.00
5.00
(5000000)
(10)
10150
100
0.10
0.10
( 10150)
(100)
11619
100
0.12
0.12
(11619)
(100)
29090
100
0.29
0.29
(29090)
(100)
1465
100
0.01
0.01
(1465)
(100)
4.16
4.16
(0.60)
(0.53)
0.10
0.10
19(670(1763523(57<
Less : Accumulated Depreciation on Immovable property
(
31-Mar-15
19(670(17615($/7<)81'8QTXRWHG
Peninsula Realty Fund Scheme Pref Indigo fund
10
100000
(10)
(100000)
)
75$'(19(670(1768QTXRWHG
3HQLQVXOD%URRNHOG(PSOR\HH%HQHW7UXVW
0.16
0.16
QYHVWPHQWLQ3HQLQVXOD%URRNHOGQGLD5HDO(VWDWH)XQG
0.82
0.82
3HQLQVXOD%URRNHOG5HDO(VWDWH)XQG&ODVV%8QLWV
0.39
0.39
38.61
100000
(38.61)
(100000)
$QQXDO5HSRUW _163
Particulars
*
19(670(1761/07('/$%/7<3$571(56+3//3
+
Nos.
Face Value
(`)
31-Mar-15
(` in Crores)
31-Mar-14
0.30
0.30
93.96
93.96
511.38
498.40
3.56
3.63
93.96
93.96
413.86
400.81
Total
511.38
498.40
Note : 1
(` in Crores)
Name of Partner
2014-2015
3URW
Sharing
Ratio
40.00%
KB Kothari Group
Total
2013-2014
Contribution
Contribution
0.30
3URW
Sharing
Ratio
40.00%
60.00%
0.46
60.00%
0.46
100.00%
0.76
100.00%
0.76
0.30
Particulars
(` in Crores)
31-Mar-15
31-Mar-14
26.84
16.47
0.51
/HVV'LPLQXWLRQLQYDOXHZULWWHQR3URYLGHGLQ3UHYLRXV<HDU
10.37
10.37
16.47
27.35
c
d
(` in Crores)
31-Mar-15
31-Mar-14
2.50
2.04
39.65
22.21
11.37
46.70
30.14
55.59
61.01
105.34
107.19
236.44
203.46
164_$QQXDO5HSRUW
9.26
9.62
495.48
447.04
Consolidated
Notes
Nos.
NAV
(`)
31-Mar-15
31-Mar-14
44392.4
100.195
(78146.000)
(100.098)
(68790.024)
(100.0604)
738218.89
105.735
(535591)
(105.735)
16513.4000
1,098.000
(15539.503)
(1098.000)
2002.248
1002.7641
(1180.270)
(1002.100)
1582452.910
17.0959
(1482999.890)
(17.096)
12446.352
1002.590
(12446.350)
(1001.810)
(4820888.179)
(10.0649)
19,754.653
1,000.000
(-)
(-)
4,203,636.000
10.000
(3878383.727)
(10.198)
318,666.600
100.000
(-)
(-)
0.44
0.78
0.69
7.81
5.66
1.81
1.71
0.20
0.12
2.71
2.54
1.25
1.25
4.85
1.98
4.20
3.96
3.19
23.59
21.56
23.59
21.56
23.59
21.56
(` in Crores)
31-Mar-15
31-Mar-14
12.56
77.73
2161.37
1243.72
0.65
0.79
2174.58
1322.24
Trade Receivables outstanding for more than six months since it fell due
Less : Provision for Doubtfull debts
(` in Crores)
31-Mar-15
31-Mar-14
116.09
13.65
(1.48)
(1.10)
114.61
12.55
12.67
253.60
127.28
266.15
$QQXDO5HSRUW _165
Cheques in Hand
31-Mar-15
31-Mar-14
42.60
50.06
0.00
162.80
89.51
Cash on Hand
0.32
0.33
II
Unpaid Dividend
2.03
2.06
III
0.40
0.27
68.88
72.47
Balances with Banks in Deposit Account (Maturity after three months but upto
twelve months)
16.22
63.33
293.25
278.03
Particulars
(` in Crores)
31-Mar-15
31-Mar-14
0.07
0.54
82.99
40.32
95.87
36.95
/RDQVWRVWD
(PSOR\HH%HQHWV5HIHUSDUDQRRI1RWH
0.04
0.06
0.04
10.00
188.97
77.91
Particulars
Interest Receivable
Other Receivable
Earnest Money
8QDGMXVWHGWD[HHFWRQFKDUJHWRUHVHUYHXQGHUPHUJHUVFKHPH
Total
(` in Crores)
31-Mar-15
31-Mar-14
159.19
1.28
0.13
0.03
0.03
56.54
61.08
217.24
204.93
142.41
1.48
(` in Crores)
2014-2015
2013-2014
2.28
3.49
Miscellaneous Income
0.18
2.28
3URWRQVDOHRIQYHVWPHQWV
6KDUHRI3URW /RVVIURP//3
10.02
(0.01)
Interest Income
123.43
99.92
Total
135.91
105.68
166_$QQXDO5HSRUW
Consolidated
Notes
(` in Crores)
2014-2015
2013-2014
44.65
49.76
3.51
2.17
6WD /DERXU:HOIDUH
5.32
5.27
53.48
57.20
Total
(` in Crores)
2014-2015
2013-2014
332.99
206.27
7.77
4.39
340.76
210.66
200.16
105.71
Total
140.60
104.95
(` in Crores)
2014-2015
2013-2014
2.00
1.83
3.61
4.02
1.98
1.60
Insurance
0.25
0.44
Rent
1.14
1.44
1.59
0.92
21.17
21.15
4.06
13.41
4.81
0.15
Donations
0.10
1.09
Miscellaneous Expenses
9.23
10.74
0.07
0.17
0.07
0.08
0.07
0.07
0.10
0.09
50.35
57.10
Total
Basis of Accounting
7KHVH QDQFLDO VWDWHPHQWV KDYH EHHQ SUHSDUHG LQ DFFRUGDQFH ZLWK WKH *HQHUDOO\ $FFHSWHG $FFRXQWLQJ
3ULQFLSOHVLQQGLDQGLDQ*$$3WRFRPSO\ZLWKWKH$FFRXQWLQJ6WDQGDUGVVSHFLHGXQGHU6HFWLRQRIWKH
Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of
WKH&RPSDQLHV$FW7KHQDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHGXQGHUWKHKLVWRULFDOFRVWFRQYHQWLRQRQ
accrual basis.
$QQXDO5HSRUW _167
II
Use of Estimates
7KHSUHSDUDWLRQRIQDQFLDOVWDWHPHQWVLQFRQIRUPLW\ZLWK*$$3UHTXLUHV0DQDJHPHQWWRPDNHHVWLPDWHVDQG
DVVXPSWLRQV WKDW DHFW WKH UHSRUWHG DPRXQW RI DVVHWV DQG OLDELOLWLHV DQG GLVFORVXUH RI FRQWLQJHQW OLDELOLWLHV
RQWKHGDWHRIQDQFLDOVWDWHPHQWVDQGUHSRUWHGDPRXQWRIUHYHQXHDQGH[SHQVHVIRUWKH\HDU$FWXDOUHVXOWV
FRXOGGLHUIURPWKHVHHVWLPDWHV'LHUHQFHEHWZHHQWKHDFWXDOUHVXOWDQGHVWLPDWHVDUHUHFRJQL]HGLQWKH\HDU
in which results are known / materialized. Any revision to an accounting estimate is recognised prospectively in
the year of revision.
III
Revenue Recognition
(a) The Company is in the business of Real estate Development. Revenue from sale of properties under
FRQVWUXFWLRQLVUHFRJQLVHGRQWKHEDVLVRIDFWXDOERRNLQJVGRQHSURYLGHGWKHVLJQLFDQWULVNVDQGUHZDUGV
have been transferred to the buyer and there is reasonable certainty of realisation of the monies) using the
Percentage of Completion Method. Revenue is recognised in accordance with the guidelines prescribed by
the "Guidance note on Accounting Treatment for real estate transactions (Revised 2012)" issued by
the Institute of Chartered Accountants of India, inter alia, with regard to thresholds for commencement
of revenue recognition for projects and the basis for determining percentage of completion.
E 5HYHQXHIURPVDOHRIFRPSOHWHGSURSHUWLHV)LQLVKHG5HDOW\6WRFNLVUHFRJQLVHGXSRQWUDQVIHURIVLJQLFDQW
risks and rewards to the buyer.
(c)
Revenue on Development Rights is recognised on the basis of our revenue share receivable from the
related projects as per agreed terms and conditions.
(d)
Income from Operations include Realty Sales, Lease Rentals, Service Fees, Signages, Car park and PMC/
Marketing Fees.
(e)
Interest income is recognised on time basis determined by the amount outstanding and the rate applicable.
(f)
Dividend income is recognised when the right to receive the payment is established.
(g)
K 7KH &RPSDQ\V VKDUH LQ SURWV /RVV IURP DQ HQWLWLHV ZKHUH WKH &RPSDQ\ LV D SDUWQHU RU PHPEHU LV
recognised on the basis of such entities audited accounts, as per the relevant law applicable to such entity.
IV
Inventories
(a) Inventories comprise of: (i) Finished Realty Stock representing unsold premises in closed projects and (ii)
Realty Work in Progress representing properties under construction / development.
(b)
F &RVW RI 5HDOW\ FRQVWUXFWLRQ GHYHORSPHQW LV FKDUJHG WR WKH 6WDWHPHQW RI 3URW DQG /RVV LQ SURSRUWLRQ
to the revenue recognised during the period and the balance cost is carried over under Inventory as part
of either Realty Work- in- Progress or Finished Realty Stock. Cost of Realty construction / development
LQFOXGHV DOO FRVWV GLUHFWO\ UHODWHG WR WKH 3URMHFW QFOXGLQJ QDQFH FRVW DWWULEXWDEOH WR WKH SURMHFW DQG
RWKHUH[SHQGLWXUHDVLGHQWLHGE\WKH0DQDJHPHQWZKLFKDUHLQFXUUHGIRUWKHSXUSRVHRIH[HFXWLQJDQG
VHFXULQJWKHFRPSOHWLRQRIWKH3URMHFWQHWRLQFLGHQWDOUHFRYHULHVUHFHLSWVXSWRWKHGDWHRIUHFHLSWRI
RFFXSDWLRQ&HUWLFDWHRI3URMHFWIURPWKHUHOHYDQWDXWKRULWLHV
168_$QQXDO5HSRUW
Consolidated
Notes
Fixed Assets
(a) Tangible Assets
(i) Tangible assets are carried at cost of acquisition or construction less accumulated depreciation. The
FRVW RI [HG DVVHWV LQFOXGHV QRQUHIXQGDEOH WD[HV GXWLHV IUHLJKW DQG RWKHU LQFLGHQWDO H[SHQVHV
related to the acquisition and installation of the respective assets. Borrowing cost attributable to
DFTXLVLWLRQRUFRQVWUXFWLRQRI[HGDVVHWVZKLFKWDNHVVXEVWDQWLDOSHULRGRIWLPHWRJHWUHDG\IRUWKHLU
intended use is capitalised.
LL 6XEVHTXHQWH[SHQGLWXUHUHODWHGWRDQLWHPRI[HGDVVHWLVDGGHGWRLWVERRNYDOXHRQO\LILWLQFUHDVHV
WKHIXWXUHEHQHWVIURPWKHH[LVWLQJDVVHWEH\RQGLWVSUHYLRXVO\DVVHVVHGVWDQGDUGRISHUIRUPDQFH
$OORWKHUH[SHQVHVRQH[LVWLQJ[HGDVVHWVLQFOXGLQJGD\WRGD\UHSDLUDQGPDLQWHQDQFHH[SHQGLWXUH
DQGFRVWRIUHSODFLQJSDUWVDUHFKDUJHGWRWKHVWDWHPHQWRISURWDQGORVVIRUWKHSHULRGGXULQJZKLFK
such expenses are incurred.
(iii) Expenses incurred for acquisition of capital assets excluding advances paid towards the acquisition of
[HGDVVHWVRXWVWDQGLQJDWHDFK%DODQFH6KHHWGDWHDUHGLVFORVHGXQGHU&DSLWDO:RUNLQ3URJUHVV
LY *DLQVRUORVVHVDULVLQJIURPGHUHFRJQLWLRQRI[HGDVVHWVDUHPHDVXUHGDVWKHGLHUHQFHEHWZHHQWKH
net disposal proceeds and the carrying amount of the asset and are recognized in the statement of
SURWDQGORVVZKHQWKHDVVHWLVGHUHFRJQL]HG
(b) Intangible Assets
Intangible Assets are recorded at the consideration paid for the acquisition.
VI
Leases
D $VVHWVDFTXLUHGRQOHDVHZKHUHDVLJQLFDQWSRUWLRQRIULVNVDQGUHZDUGVRIRZQHUVKLSDUHUHWDLQHGE\WKH
/HVVRUDUHFODVVLHGDV2SHUDWLQJ/HDVHV/HDVH5HQWDOVDUHFKDUJHGWR6WDWHPHQWRI3URWDQG/RVVRQ
accrual basis.
(b)
Balance useful life from the date of acquisition (date of construction not available)
Building 1
57 Years
Building 2
39 Years
For these assets, based on assessment of technical expert, the management believes that the useful
lives as given above best represent the period over which management expects to use these assets.
+HQFHWKHXVHIXOOLYHVIRUWKHVHDVVHWVDUHGLHUHQWIURPWKHXVHIXOOLYHVDVSUHVFULEHGXQGHU3DUW&RI
Schedule II of the Companies Act, 2013.
(ii)
Depreciation is calculated on a pro-rata basis from the date of installation / acquisition till the date the
assets are sold or disposed.
$QQXDO5HSRUW _169
(b) Amortization
(i) Leasehold assets are amortized over the period of lease.
(ii)
Intangible assets are amortized over their estimated useful lives on a straight line basis, commencing
from the date the asset is available to the Company for its use.
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IX
Investments
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LQYHVWPHQWV$OORWKHULQYHVWPHQWVDUHFODVVLHGDVORQJWHUPLQYHVWPHQWV
Long term investments are carried at cost less any permanent diminution in value. Current investments are
carried at the lower of cost and fair value.
Carrying amount of the individual investment is determined on the basis of the average carrying amount of the
total holding of the investments.
$VUHJDUGVLQYHVWPHQWVLQ$23&RPSDQ\VVKDUHRI3URW/RVVIURP$23LVDFFRXQWHGLQUHVSHFWRIWKH\HDU
HQGHGDVRQWKH%DODQFH6KHHWGDWHRQWKHEDVLVRIWKHLUDXGLWHGQDQFLDOVWDWHPHQWV
Monetary assets and liabilities denominated in foreign currencies are converted at the closing rate as on
%DODQFH6KHHWGDWH7KHUHVXOWDQWH[FKDQJHGLHUHQFHLVUHFRJQLVHGLQWKH6WDWHPHQWRI3URWDQG/RVV
(c)
Non monetary assets and liabilities denominated in foreign currencies are carried at the exchange rate
prevalent on the date of the transaction.
; (PSOR\HH%HQHWV
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6KRUWWHUPHPSOR\HHEHQHWVDUHUHFRJQLVHGDVDQH[SHQVHDWWKHXQGLVFRXQWHGDPRXQWLQ6WDWHPHQWRI
3URWDQG/RVVRIWKH\HDULQZKLFKWKHUHODWHGVHUYLFHLVUHQGHUHG
E 3RVW(PSOR\PHQW%HQHWV
Contribution to Provident Fund and Superannuation Scheme are charged against revenue. Provision for
*UDWXLW\LVUHFRUGHGRQWKHEDVLVRIDFWXDULDOYDOXDWLRQFHUWLFDWHSURYLGHGE\WKHDFWXDU\
F 2WKHU/RQJ7HUP(PSOR\HHV%HQHWV
Company's liability towards earned leave is determined by an independent actuary using Projected Unit
Credit Method. Past services are recognised on a straight line basis over the average period until the
EHQHWVEHFRPHYHVWHG$FWXDULDOJDLQVDQGORVVHVDUHUHFRJQLVHGLPPHGLDWHO\LQWKH6WDWHPHQWRI3URW
and Loss as income or expense. Obligation is measured at the present value of the estimated future cash
RZVXVLQJDGLVFRXQWHGUDWHWKDWLVGHWHUPLQHGE\UHIHUHQFHWRWKHPDUNHW\LHOGVDWWKH%DODQFH6KHHW
date on Government Bonds where the currency and terms of the Government Bonds are consistent with
WKHFXUUHQF\DQGHVWLPDWHGWHUPVRIWKHGHQHGEHQHWREOLJDWLRQ
170_$QQXDO5HSRUW
Consolidated
Notes
Intersegment Transfers
Segment revenue, segment expenses and segment results include transfer between business segments,
such transfers are eliminated in consolidation.
$QQXDO5HSRUW _171
Principles of Consolidation
D 7KHFRQVROLGDWHGQDQFLDOVWDWHPHQWVDUHEDVHGRQWKHDXGLWHGQDQFLDOVWDWHPHQWVRIWKHVXEVLGLDULHV
DVVRFLDWHVMRLQWYHQWXUHIRUWKH\HDUHQGHGVW0DUFK1RVLJQLFDQWWUDQVDFWLRQVKDYHRFFXUUHG
after the Balance Sheet date.
E
7KHQDQFLDOVWDWHPHQWVRIWKHFRPSDQ\DQGLWVVXEVLGLDULHVKDYHEHHQFRPELQHGRQDOLQHE\OLQHEDVLV
by adding together like items of assets, liabilities, income and expenses. All intra group balances and have
been eliminated on consolidation as per Accounting Standard AS 21 "Consolidated Financial Statements".
F
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transactions and other events in similar circumstances and are presented to the extent possible, in the
VDPHPDQQHUDVWKHFRPSDQ\
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G
0LQRULW\LQWHUHVWLQWKHQHWLQFRPHDQGQHWDVVHWVRIWKHFRQVROLGDWHGQDQFLDOVWDWHPHQWVDUHFRPSXWHG
and shown separately.
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consolidated under the Equity method as per Accounting Standard - AS 23 "Accounting For Investments in
Associates in Consolidated Financial Statements".
I
QFDVHRIMRLQWYHQWXUHWKH$XGLWHGQDQFLDOVWDWHPHQWVDVRQVW0DUFKKDYHEHHQFRQVROLGDWHG
as per Accounting Standard - AS 27 "Financial Reporting of Interest in Joint Ventures" using proportionate
consolidation method.
In the opinion of the Board, the current assets, loans and advances are approximately of the value stated if
realised in the ordinary course of business. The provisions for all known liabilities are adequate.
172_$QQXDO5HSRUW
Consolidated
Notes
4
(HFWLYH$SULOSXUVXDQWWRDQGLQOLQHZLWKWKHUHTXLUHPHQWVRI6FKHGXOHWRWKH&RPSDQLHV$FW
except in case of certain assets as disclosed in Accounting Policy on Depreciation, the company has reviewed
DQGUHYLVHGWKHXVHIXOOLYHVRIWDQJLEOH[HGDVVHWVLQFOXGLQJWKHLUPDMRUFRPSRQHQWVZLWKWKHKHOSRIUHOHYDQW
WHFKQLFDOH[SHUWVDQGHHFWHGWKHIROORZLQJFKDQJHVZLWKUHVSHFWWRSURYLVLRQRIGHSUHFLDWLRQ
(A) In respect of assets where the remaining useful life as on April 1, 2014, is Nil, their carrying amounts after
retaining the residual value if any, aggregating `FURUHVQHWRIWD[HHFWRI`0.44 crores), has been
adjusted against the opening balance of retained earnings as on that date.
(B) In respect of all other assets, depreciation is provided under the Straight Line Method (SLM). Their
carrying amounts as at April 1, 2014, are depreciated over their remaining useful lives. Pursuant to
this, the depreciation for the year is higher by `1.48 crores. There has also been a change of method of
charging depreciation from Written Down Value (WDV) to Straight Line Method (SLM), in respect of certain
assets. Hence, as required by Accounting Standard 6 on Depreciation Accounting, issued by the ICAI, the
depreciation on such assets has been re-computed retrospectively and the resultant surplus as at April1
2014, of `FURUHVKDVEHHQFUHGLWHGWRWKHVWDWHPHQWRISURWDQGORVVIRUWKH\HDUDVDQH[FHSWLRQDO
item."
For the FY 2013-14, the Company had applied to the Central Government under section 309 (5B) of the
Companies Act, 1956 for approval of remuneration paid to three executive directors in excess by ` 3.26 crores,
RI OLPLWV VSHFLHG LQ VHFWLRQ UHDG ZLWK VHFWLRQ RI WKH $FW GXH WR LQDGHTXDWH SURWV IRU WKDW \HDU
7KHUHDIWHUSXUVXDQWWRWKHGLUHFWLRQVIURPWKH0LQLVWU\RI&RUSRUDWH$DLUVWKHFRPSDQ\KDVUHVXEPLWWHG
the application duly supported with a Special Resolution of Shareholders approving (with more than 98% of
the total votes polled) both the remuneration already paid for FY 2013-14 and proposed to be paid to these
directors till the end of their respective tenure of appointment, which includes ` 4.54 crores paid in excess of
the limits, prescribed under Section 197 (3 ) read with Schedule V of Companies Act, 2013, for FY 2014-15. These
approvals are awaited and the Company shall recover such excess remuneration from the respective Directors
GXULQJQDQFLDO\HDULQFDVHRILWVQRQDSSURYDOIURPWKH&HQWUDO*RYHUQPHQW
a.
i
As At
31.03.2015
As At
31.03.2014
0.12
0.12
0.53
0.52
iii
5.69
5.64
b.
120.00
120.00
c.
&KDUJHFUHDWHGRQDVVHWVRIVXEVLGLDU\LQIDYRXURIQDQFLDOLQVWLWXWLRQV
(in respect of borrowings by an associates)
250.00
250.00
Recognition of Income and Expenses for on-going projects are based upon actual sales value, estimated costs,
0DQDJHPHQWVMXGJHPHQWRIRYHUDOOSURMHFWSURWDELOLW\DQGZRUNFRPSOHWLRQVWDWXV7KHZRUNFRPSOHWLRQVWDWXV
is determined based on the actual costs incurred vis-a-vis the estimated cost of the project. The estimated costs
RI HYHU\ SURMHFW DUH UHYLHZHG SHULRGLFDOO\ DQG UHYLVHG ZKHQHYHU UHTXLUHG 7KH FRQVHTXHQWLDO HHFW RI VXFK
revision is considered in the year of revision and over the balance future period of the project.
$QQXDO5HSRUW _173
a
b
c
Sale of Products
Realty Sales
Sale of Services
Realty Rentals
Other Operating Income
Total
(`In Crores)
Year Ended
31.03.2014
Year Ended
31.03.2015
123.57
232.81
37.31
6.13
167.01
36.80
9.72
279.33
The Company had entered in partnership as an AOP named Peninsula GSG MHP Project with a party named
GSG Builders and Infrastructure Private Limited with a total investment of ` 1.00 crores constituting 50% of the
WRWDOFDSLWDORIWKH$237KH3URW /RVVIURPVXFK$23DUHVKDUHGLQWKHUDWLRRI/RVVRIFXUUHQW\HDU
of ` 0.01 crores (previous year ` 0.01 crores) from the AOP is recognised, which is to the extent of our share in
the said AOP.
10
The Company had entered in partnership as an LLP named Bridgeview Real Estate Development LLP with a
party named K B K group with a total investment of ` 0.05 crores constituting 50% of the total capital of the LLP.
7KH3URW /RVVIURPVXFK//3DUHVKDUHGLQWKHUDWLRRI/RVVRIFXUUHQW\HDURI` 0.02 crores (previous
year ` 0.01 crores) from the LLP is recognised, which is to the extent of our share in the said LLP.
11
Donation includes ` 0.02 Crores (Previous Year ` 0.01 Crores) paid to political parties. The details of the same
are as under:
(`In Crores)
Particulars
Shivsena
Maharashtra Navnirman Sena
South Mumbai District Yuvak Congress
South Mumbai District Congress Committee
Bharatiya Janata Party
Worli Taluka Rashtrawadi Congress
Total
12
Year Ended
31.03.2015
0.00
0.02
0.00
0.00
0.00
0.02
Year Ended
31.03.2014
0.00
0.01
0.00
0.00
0.01
The company had granted stock options to employees under the Employees Stock Option Scheme 2006 at
grant price of ` 70/- (face value ` 2/-).
The details of options granted, lapsed and in force at the end of the year are as under.
Particulars
Option in force at the beginning of the year (face value ` 2/-)
Add : Granted during the year
Less : Lapsed during the year
Option vested during the year
Option in force at the end of the year
174_$QQXDO5HSRUW
Current year
-
Previous year
3,150
3,150
-
Consolidated
Notes
13
All the grants have lapsed without any exercise of the same. Further, the said ESOP scheme has been cancelled
vide Board resolution dated 26th May 2014, and approved by the shareholders on 27th September 2014.
a
b
c
d
e
14
(` In Crores)
Year Ended
31.03.2014
Year Ended
31.03.2015
0.42
0.10
0.02
0.01
0.07
0.61
0.36
0.08
0.06
0.01
0.06
0.57
As At
31.03.2015
As At
31.03.2014
a)
(i)
5RFNUVW5HDO(VWDWH/LPLWHG
16.95
(ii)
(0.00)
(iii)
(iv)
0.00
0.00
18.34
31.03.2014
71.54
46.80
0.28
0.30
0.28
0.00
0.00
0.00
0.00
(v)
0.00
(vi)
0.00
0.00
0.00
0.00
(vii)
0.07
0.13
0.13
0.13
(viii)
0.00
0.01
0.00
(ix)
0.04
0.04
0.05
(x)
0.02
0.02
0.02
(xi)
0.06
0.01
0.15
0.37
(xii)
0.01
0.01
0.01
0.01
(xiii)
0.00
0.01
0.01
0.01
(xiv)
0.01
0.01
0.01
0.01
(xv)
0.00
0.00
0.00
(xvi)
0.00
0.00
0.00
(xvii)
0.00
0.00
0.00
0.00
0.00
(0.01)
0.58
(xviii)
(xix)
(xx)
0.00
0.00
(xxi)
0.00
0.00
17.10
18.85
33.49
Total (a)
b)
Joint Venture
(i)
39.65
22.21
39.58
(ii)
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
0.00
0.00
0.00
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
0.01
0.01
0.01
39.65
22.22
Total (b)
$QQXDO5HSRUW _175
(` In Crores)
Particulars
As At
31.03.2015
As At
31.03.2014
31.03.2014
c)
Associates
(i)
14.29
14.29
14.29
14.29
(ii)
222.16
178.85
222.16
267.73
Total (c)
236.45
193.14
(i)
15.00
Total (d)
15.00
308.20
234.21
Borrowing Cost
(` In Crores)
Particulars
31.03.2015
(PSOR\HH%HQHW3ODQV
200.16
31.03.2014
105.71
7KH&RPSDQ\KDVFODVVLHGYDULRXVEHQHWSODQVDVXQGHU
D
'HQHG&RQWULEXWLRQ3ODQ
7KH &RPSDQ\ KDV UHFRJQLVHG WKH IROORZLQJ DPRXQWV LQ 3URW DQG /RVV $FFRXQW ZKLFK DUH LQFOXGHG XQGHU
Contributions to Funds.
Amount ` In Crores
Particulars
Employer's contribution to Provident Fund
Current Year
2.40
Previous Year
2.28
0.27
0.45
0.01
0.01
E
'HQHG%HQHW3ODQ
i.
Gratuity (Funded)
ii
176_$QQXDO5HSRUW
Consolidated
Notes
As at
31.03.2015
As at
31.03.2014
$VVXPSWLRQV
Discount rate
7.80%
9.10%
6%
6%
5% at younger ages
1% at older ages
5% at younger ages
1% at older Ages
8.75%
9%
60 years
58 Years
Salary escalation
Employee Turnover Ratio
Expected Rate of Return on Planned Assets
Retirement Age
` in Crores
Particulars
As at 31.03.2015
Funded
Unfunded
As at 31.03.2014
Total
Funded
Unfunded
Total
&KDQJHVLQ3UHVHQW9DOXHRI2EOLJDWLRQV
Present value of obligations as at beginning of the year
2.57
0.17
2.74
2.69
0.12
2.81
Interest cost
0.21
0.02
0.23
0.20
0.01
0.21
(0.00)
(0.00)
0.04
0.03
0.07
Liability Transferred
Current service cost
0.51
0.03
0.54
0.47
0.02
0.49
(0.31)
(0.02)
(0.33)
(0.36)
(0.00)
(0.36)
0.48
(0.01)
0.47
(0.46)
(0.02)
(0.48)
3.46
0.18
3.64
2.57
0.17
2.74
0.48
(0.01)
0.47
0.46
0.02
0.48
0.03
0.00
0.03
0.48
(0.01)
0.47
0.50
0.01
0.51
0.48
(0.01)
0.47
0.50
0.01
0.51
3.33
0.17
3.50
2.57
0.17
2.74
3.24
3.24
2.61
(0.00)
2.61
Funded status
3.24
0.17
3.40
2.61
0.07
2.68
0.10
0.17
0.26
(0.04)
(0.17)
(0.21)
%HQHWVSDLG
$FWXDULDO*DLQ/RVVUHFRJQLVHG
([SHQVHVUHFRJQLVHGLQ6WDWHPHQWRI3URW /RVV
Current service cost
0.51
0.03
0.54
0.47
0.02
0.49
Interest cost
0.21
0.02
0.23
0.20
0.01
0.21
(0.19)
(0.24)
(0.24)
(0.19)
(0.00)
0.48
(0.01)
0.47
(0.50)
(0.01)
(0.51)
([SHQVHVUHFRJQLVHGLQVWDWHPHQWRISURWDQGORVV
0.97
0.03
1.00
(0.02)
0.02
(0.00)
$QQXDO5HSRUW _177
` in Crores
Particulars
As at 31.03.2015
Funded
Unfunded
As at 31.03.2014
Total
Funded
Unfunded
Total
Pattern of Investment
Central & State Government Securities
0%
56%
Bonds/Debentures
0%
36%
Equity Shares
0%
6%
0%
2%
100%
&ODVVLFDWLRQRI/LDELOLW\
Current
Non Current
0.10
0.00
0.10
(0.04)
0.01
(0.03)
0.16
0.16
0.16
0.16
2014-15
2013-14
2012-13
2011-12
2010-11
([SHULHQFH$GMXVWPHQWV
'HQHG%HQHWREOLJDWLRQ
3.50
2.74
Plan Assets
3.24
2.61
(0.26)
(0.13)
0.06
(0.24)
0.42
(0.24)
0.47
(0.51)
6XUSOXV'HFLW
ii
Particulars
As at
31.03.2015
As at
31.03.2014
$VVXPSWLRQV
Discount rate (per annum)
7.80%
9.10%
6%
6%
60 Years
58 years
` in Crores
Particulars
As at 31.03.2015
Funded
Unfunded
As at 31.03.2014
Total
Funded
Unfunded
Total
&KDQJHVLQSUHVHQWYDOXHRIREOLJDWLRQ
Present value of obligation as at beginning of the year
2.61
0.18
2.79
2.65
0.09
2.74
Interest Cost
0.18
0.02
0.20
0.19
0.01
0.20
0.43
0.04
0.47
0.40
0.03
0.43
Liability Transferred
(0.00)
(0.00)
0.05
0.05
(0.11)
(0.11)
178_$QQXDO5HSRUW
Consolidated
Notes
` in Crores
Particulars
As at 31.03.2015
As at 31.03.2014
Funded
(0.40)
Unfunded
(0.03)
Total
(0.43)
Funded
(0.57)
Unfunded
(0.02)
Total
(0.59)
2.53
(0.00)
2.53
(0.06)
0.02
(0.04)
5.24
0.20
5.44
2.61
0.17
2.78
5.24
0.19
5.43
2.61
0.18
2.79
5.24
0.19
5.43
2.61
0.18
2.79
Current
2.25
0.01
2.26
1.26
0.01
1.27
Non Current
2.99
0.18
3.17
1.35
0.17
1.52
0.43
%HQHWV3DLG
([SHQVHVUHFRJQLVHGLQ6WDWHPHQWRI3URW /RVV
Current service cost
0.43
0.04
0.47
0.40
0.03
(0.01)
(0.01)
0.18
0.02
0.20
0.19
0.01
0.20
2.53
(0.00)
2.53
(0.06)
0.02
(0.04)
Employee's Contribution
7RWDOH[SHQVHVUHFRJQLVHGLQ3URW /RVVDFFRXQW
3.14
0.05
3.19
0.53
0.06
0.59
2014-15
2013-14
2012-13
2011-12
2010-11
Experience Adjustments
'HQHG%HQHWREOLJDWLRQ
Plan Assets
6XUSOXV'HFLW
Experience Adjustment on Plan Liabilities
Experience Adjustment on Plan Asset Gain / (Loss)
Actuarial Loss / (Gain) due to change in assumption
Experience Adjustment on Plan Assets
Net Actuarial Loss /(Gain) for the year
5.43
2.79
(5.43)
(2.79)
2.14
0.14
0.39
(0.18)
2.53
(0.04)
* Not Available
Note: As the Company does not have plan assets for leave encashment policy, disclosure pertaining to plan assets are not shown.
17
Associate Companies with whom the Company had transactions during the year
(i) JM Realty Management Private Limited
(ii) SEW Engineering (India) Private Limited
(iii) RA Realty Ventures LLP (formerly known as RA Realty Ventures Private Limited)
III
Step Down Associates with whom the Company had transactions during the year
(i) HEM Bhattad AOP
$QQXDO5HSRUW _179
9 &RPSDQLHVZKHUH.H\0DQDJHPHQW3HUVRQQHOWKHLUUHODWLYHVH[HUFLVHVLJQLFDQWLQXHQFH
(i) Ashok Piramal Management Corporation Limited
(ii) Freedom Registry Limited
(iii) Morarjee Textiles Limited
(iv) Thundercloud Technologies (India) Private Limited
(v) Peninsula SA Realty Private Limited
(vi) Peninsula Townships Development Private Limited
YLL 5RFNUVW5HDO(VWDWH/LPLWHG
(viii) Ashok Piramal Mega City Development Private Limited
(ix) Ashok Piramal Mega Properties Private Limited
(x) Ashok Piramal Township Development Private Limited
(xi) Goldlife Mercantile Company Private Limited
(xii) Delta Corp Limited
(xiii) Pune Football Club Limited
(xiv) Topvalue Brokers Private Limited
(xv) CAMS Learning Private Limited
(xvi) EDUSTAR Learning Private Limited
(xvii) Piramal Land Private Limited
(xviii) Highway Concessions One Private Limited (Formerly known as Piramal Roads Infra Private Limited)
(xix) Cromwell Tools (I) Private Limited
(xx) Miranda Few Tools Private Limited
(xxi) Miranda Ultra Tools Private Limited
(xxii) PMP Auto Components Private Limited
[[LLL3HQLQVXOD%URRNHOG&DSLWDO$GYLVRUV/LPLWHG
(xxiv) Powerjet Carriers and Transporters Private Limited
V
Joint Venture
(i) Bridgeview Real Estate Development LLP (formerly known as Bridgeview Real Estate Development
Private Limited)
LL 3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHGHTXLW\LVKHOGWKURXJKZKROO\RZQHGVXEVLGLDU\
LLL 3HQLQVXOD %URRNHOG QYHVWPHQW 0DQDJHUV 3ULYDWH /LPLWHG HTXLW\ LV KHOG WKURXJK ZKROO\ RZQHG
subsidiary)
9 (QWHUSULVHVZKHUH.H\0DQDJHPHQW3HUVRQQHOWKHLUUHODWLYHVH[HUFLVHVLJQLFDQWLQXHQFH
(i) Peninsula Land Limited ESOP Trust
(ii) Urvi Ashok Piramal Foundation
(iii) Morarjee Goculdas Spinning & Weaving Company Limited Senior ESOP Trust (P.Y. - Controlling
Entity)
LY 3HQLQVXOD%URRNHOG(PSOR\HH%HQHW7UXVW
9 (QWHUSULVHRYHUZKLFKFRPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
(i) Peninsula Realty Fund
LL 3HQLQVXOD%URRNHOGQGLD5HDO(VWDWH)XQG
180_$QQXDO5HSRUW
Consolidated
Notes
XI
Co-ventures / Investing parties in JVS / Subsidiaries and Associates and their Relatives.
(I) Ashok Kothari
(II) Azim Tapia
(III) Jayem Properties Private Limited
(IV) Javed Tapia
(V) Rajendra Kothari
(VI) Vivek Kothari
(VII) Vinay Kothari
(viii) RAK Constructions Project Private Limited
(ix) RAK Realty Private Limited
&R9HQWXUHUVQYHVWLQJ3DUWLHVLQ-9V6XEVLGLDULHVDQG$VVRFLDWHV WKHLU5HODWLYHV
(i)
Javed Tapia
2014-15
2013-14
2.50
(ii)
Ashok Kothari
1.37
(iii)
Rajendra Kothari
2.47
0.40
(iv)
0.33
II
Issue of Debentures
Investing Party
222.70
1.43
(i)
PREI fund
III
(i)
1.43
(ii)
0.01
0.14
(iii)
0.15
0.03
(QWHUSULVHRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
(i)
(iii)
0.04
0.04
3.22
(iii)
0DQDJHPHQW)HHVIURP3HQLQVXOD%URRNHOGQGLD5HDO(VWDWH)XQG
0.04
(iv)
7UXVWHH)HHVIURP3HQLQVXOD%URRNHOGQGLD5HDO(VWDWH)XQG
0.01
0.10
0.07
IV
(i)
(ii)
(iii)
Associate Companies
(i)
- Advertisement
9.92
1.80
1.48
3.54
$QQXDO5HSRUW _181
(` in Crores)
Particulars
V
Payment made
$VVRFLDWH&RPSDQLHV
(i)
(i)
(ii)
VI
Donation paid to
2014-15
2013-14
1.92
4.64
0.10
1.80
2.02
0.74
9.53
119.60
15.00
52.66
10.47
0.01
0.08
15.02
21.96
0.01
107.69
(i)
VII
Loan given to
$VVRFLDWH&RPSDQLHV
(i)
6WHS'RZQ$VVRFLDWH
(i)
(i)
5RFNUVW5HDO(VWDWH/LPLWHG
(ii)
Others
-RLQW9HQWXUH
(i)
VIII
Loan repaid by
$VVRFLDWH&RPSDQLHV
(i)
(i)
5RFNUVW5HDO(VWDWH/LPLWHG
0.52
40.85
(ii)
Others
0.08
2.51
1.18
19.03
0.01
0.10
0.81
(i)
(ii)
Morarjee Goculdas Spinning & Weaving Company Limited Senior ESOP Trust
-RLQW9HQWXUH
(i)
IX
(QWHUSULVHVRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
(i)
3HQLQVXOD%URRNHOGQGLD5HDO(VWDWH)XQG
$VVRFLDWH&RPSDQLHV
(i)
(i)
0.58
(ii)
5RFNUVW5HDO(VWDWH/LPLWHG
0.52
(ii)
Others
0.07
0.22
-RLQW9HQWXUH
(i)
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
0.00
(ii)
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
0.01
0.01
182_$QQXDO5HSRUW
Consolidated
Notes
(` in Crores)
Particulars
(iii)
(QWHUSULVHRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
(i)
Investments made
(QWHUSULVHRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
(i)
3HQLQVXOD%URRNHOGQGLD5HDO(VWDWH)XQG
b.
(i)
3HQLQVXOD%URRNHOG(PSOR\HH%HQHW7UXVW
XI
(i)
XII
(i)
XIII
(i)
(ii)
2014-15
2013-14
0.35
-
0.59
0.83
0.17
2.50
0.00
0.53
0.87
0.51
(iii)
0.28
0.01
(iv)
0.11
0.02
(v)
Others
0.07
-RLQW9HQWXUH
(i)
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
0.00
0.00
(ii)
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
0.02
0.00
XIV
Loan Repaid to
3.53
23.47
28.64
4.38
3.16
3.32
3.20
1.40
(i)
XV
$VVRFLDWH&RPSDQLHV
(i)
(i)
5RFNUVW5HDO(VWDWH/LPLWHG
-RLQW9HQWXUH
(i)
XVI
.H\0DQDJHULDO3HUVRQQHO5HODWLYHRINH\0DQDJHULDO3HUVRQQHO
(i)
Jaydev Mody
XVII
.H\0DQDJHULDO3HUVRQQHO5HODWLYHRINH\0DQDJHULDO3HUVRQQHO
$QQXDO5HSRUW _183
(` in Crores)
Particulars
(i)
Urvi A Piramal
2014-15
2013-14
-
0.85
(ii)
Rajeev A Piramal
0.18
(iii)
Harshvardhan A Piramal
0.18
0.18
0.01
0.01
(iv)
Nandan A Piramal
XVIII
Rent paid to -
(i)
XIX
Interest Payable to
(i)
1.82
(ii)
Ashok Kothari
0.37
0.29
(iii)
0.33
0.08
(iv)
0.07
0.08
(v)
Vivek Kothari
0.20
0.22
(vi)
0.27
0.26
(vii)
0.22
0.06
Investing Party
33.01
2.50
1.52
(i)
PREI Fund
XX
(i)
XXI
$GYDQFHUHFHLYHGWRZDUGVVDOHRIDW
.H\0DQDJHPHQW3HUVRQQHOWKHLUUHODWLYHV
(i)
Ms Sunita Gupta
XXII
(i)
4.26
4.26
(ii)
2.29
2.33
(iii)
2.98
2.96
(iv)
Mr Bharat S. Sanghavi
0.80
0.75
(v)
0.43
0.33
XXIII
(i)
0.11
0.42
(ii)
0.04
0.14
(iii)
0.00
0.00
(iv)
Mr Bharat S. Sanghavi
0.00
XXIV
(i)
Mr Harshvardhan A Piramal
0.04
0.14
(ii)
Mr Nandan A Piramal
0.04
0.14
(iii)
Mr Jaydev Mody
0.00
(iv)
Ms Kalpana Singhania
0.00
0.00
(v)
Ms Sunita Gupta
0.04
0.13
(vi)
0.00
184_$QQXDO5HSRUW
Consolidated
Notes
(` in Crores)
Particulars
2014-15
2013-14
XXV
Dividend Paid to
Controlling Entity
(i)
Ashok Piramal Group Real Estate Trust through its trustees Ms Urvi A Piramal and
Mr Harshvardhan A Piramal (Equity)
5.96
22.34
(ii)
Ashok Piramal Group Real Estate Trust through its trustees Ms Urvi A Piramal and
Mr Harshvardhan A Piramal (Preference)
0.00
0.04
0.15
120.00
120.00
120.00
(i)
(i)
Morarjee Goculdas Spinning & Weaving Company Limited Senior ESOP Trust
through its trustees Ms Urvi A Piramal and Mr Mahesh S Gupta
XXVI
$VVRFLDWH&RPSDQLHV
(i)
$VVRFLDWH&RPSDQLHV
(i)
Payable by Company to
&RYHQWXUHUVQYHVWLQJSDUWLHVLQ-966XEVLGLDULHVDQG$VVRFLDWHVDQGWKHLU
5HODWLYHV
(i)
15.31
13.49
(ii)
8.41
8.41
(iii)
3.50
3.13
(iv)
3.80
0.99
(v)
0.65
0.58
(vi)
Vivek Kothari
1.88
1.67
(vii)
2.71
2.15
(viii)
2.09
1.88
2.39
2.50
2.50
0.00
0.00
(i)
6XQGU\$GYDQFHVIRUSURSHUWLHVUHFHLYHG
&RYHQWXUHUVQYHVWLQJSDUWLHVLQ-966XEVLGLDULHVDQG$VVRFLDWHVDQGWKHLU
5HODWLYHV
(i)
Azim Tapia
(i)
(ii)
$QQXDO5HSRUW _185
(` in Crores)
Particulars
b
.H\0DQDJHPHQW3HUVRQQHOWKHLUUHODWLYHVKDYLQJVLJQLFDQWLQXHQFH
(i)
2014-15
2013-14
-
0.00
(ii)
0.00
(iii)
0.00
)RU5HLPEXUVHPHQWRI([SHQVHV
(i)
0.00
0.00
(ii)
0.01
0.01
II
Receivable by Company
Loans
$VVRFLDWH&RPSDQLHV
(i)
(ii)
7.79
14.29
207.96
189.17
6WHS'RZQ$VVRFLDWH
(i)
15.00
(i)
5RFNUVW5HDO(VWDWH/LPLWHG
(ii)
16.95
18.34
(QWHUSULVHRYHUZKLFK&RPSDQ\H[HUFLVHVLJQLFDQWFRQWURO
0.28
(i)
(ii)
24.33
Morarjee Goculdas Spinning & Weaving Company Limited Senior ESOP Trust
(iii)
2.51
8.76
(iv)
3HQLQVXOD%URRNHOGQGLD5HDO(VWDWH)XQG
0.07
-RLQW9HQWXUH
39.65
22.21
(i)
)RU5HLPEXUVHPHQWRI([SHQVHV
(i)
0.06
0.01
(ii)
0.07
0.13
0.28
0.03
0.10
(iii)
(iv)
Others
-RLQW9HQWXUH
(i)
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
0.00
(ii)
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
0.01
7RZDUGV6DOHV6HUYLFHV
(i)
0.02
0.02
(ii)
0.00
0.01
.H\0DQDJHPHQW3HUVRQQHO
-
0.00
0.73
(1.14)
(i)
7RZDUGV$GYDQFHDJDLQVWVHUYLFHVVXSSOLHV
$VVRFLDWH&RPSDQ\
(i)
186_$QQXDO5HSRUW
Consolidated
Notes
(` in Crores)
Particulars
E
(i)
5RFNUVW5HDO(VWDWH/LPLWHG
XXVIII
a
2014-15
E
2013-14
60.27
60.27
&RPSDQLHVZKHUH.H\0DQDJHPHQW3HUVRQQHOWKHLUUHODWLYHVH[HUFLVHVLJQLFDQWLQXHQFH
(i) Ashok Piramal Management Corporation Limited
(ii) Freedom Registry Limited
(iii) Morarjee Textiles Limited
(iv) Thundercloud Technologies (India) Private Limited
(v) Peninsula SA Realty Private Limited
(vi) Peninsula Townships Development Private Limited
YLL 5RFNUVW5HDO(VWDWH/LPLWHG
(viii) Ashok Piramal Mega City Development Private Limited
(ix) Ashok Piramal Mega Properties Private Limited
(x) Ashok Piramal Township Development Private Limited
(xi) Goldlife Mercantile Company Private Limited
(xii) Delta Corp Limited
(xiii) Pune Football Club Limited
(xiv) Topvalue Brokers Private Limited
(xv) CAMS Learning Private Limited
(xvi) Integra Garments & Textiles Limited
(xvii) EDUSTAR Learning Private Limited
(xviii) Bridepoint Learning Private Limited
[L[5RFNHOG7UDGLQJ3ULYDWH/LPLWHG
(xx) Piramal Land Private Limited
(xxi) Highway Concessions One Private Limited
(xxii) Cromwell Tools (I) Private Limited
(xxiii) Miranda Few Tools Private Limited
(xxiv) Miranda Ultra Tools Private Limited
(xxv) PMP Auto Components Private Limited
(xxvi) Peninsula Sports Club Private Limited
[[YLL3HQLQVXOD%URRNHOG&DSLWDO$GYLVRUV/LPLWHG
(xxviii) Antartica Trading Company Private Limited
(xxix) APG Infrastructure Private Limited
(xxx) Shobla Hydro Power Private Limited
(xxxi) Anjoss Trading Private Limited
(xxxii) Delta Adventure & Entertainment Private Limited
$QQXDO5HSRUW _187
18
Leases
D
$VVHWVWDNHQRQ2SHUDWLQJ/HDVH
Future minimum lease payments under non - cancellable operating lease are as under:
(` in Crores)
Particulars
As At
31.03.2015
As At
31.03.2014
0.12
0.43
/DWHUWKDQ2QH<HDUDQGQRWODWHUWKDQYH\HDUV
0.07
0.10
0.19
0.53
/DWHUWKDQYH\HDUV
Total
E
$VVHWVJLYHQRQ2SHUDWLQJ/HDVH
As At
31.03.2015
As At
31.03.2014
33.50
23.34
/DWHUWKDQ2QH<HDUDQGQRWODWHUWKDQYH\HDUV
45.98
2.84
79.48
26.18
/DWHUWKDQYH\HDUV
Particulars
Opening Deferred Tax liability
$GG'LHUHQFHEHWZHHQERRN:'9DQG:'9DVSHUQFRPH7D[$FW
Add: Unabsorbed Business Loss
As At
31.03.2015
As At
31.03.2014
(14.78)
9.46
(1.61)
(0.47)
(21.63)
(23.14)
(0.45)
0.90
(0.91)
(0.27)
(35.26)
(14.78)
Deferred Tax Assets include ` 44.81 crores (PY `23.21 crores) on account of unabsorbed tax losses. Such tax losses
include losses recorded consequent to the scheme of merger of certain Group Companies with the Company in an
earlier year. Based on realistic estimates of future stream of earnings only from (a) the currently operational projects
and (b) sale of a plot of land, which is at an advance stage of negotiations, the management considered that it is
YLUWXDOO\FHUWDLQWKDWWKH&RPSDQ\ZLOOJHQHUDWHVXFLHQWWD[DEOHLQFRPHWRXWLOLVHVXFKWD[ORVVHV
188_$QQXDO5HSRUW
Consolidated
Notes
20
Particulars
3URWDIWHUWD[EHIRUHH[WUDRUGLQDU\LWHPV
Less: Preference Share Dividend and Dividend Distribution tax thereon
3URWDIWHUWD[DIWHUH[WUDRUGLQDU\LWHPV
Less: Preference Share Dividend and Dividend Distribution tax thereon
d.
e
f
g
h
21
2014-15
(8.55)
0.00
(8.55)
(8.55)
0.00
(8.55)
2013-14
41.83
0.00
41.83
41.83
0.00
41.83
27 92 01 220
27 92 01 220
(0.31)
(0.31)
(0.31)
(0.31)
2
27 92 01 220
27 92 01 220
1.50
1.50
1.50
1.50
2
Particulars
The principal amount remaining unpaid at the end of the year
The interest amount remaining unpaid at the end of the year
The balance of MSMED parties as at the end of the year
As at
31.03.2015
0.11
0.00
0.11
As at
31.03.2014
0.00
0.00
0.00
22a The details of cost of Realty Sales and Work in Progress (Realty Stock) are as under:
Particulars
5HDOW\&RVWVLQFXUUHGGXULQJWKH\HDU
Land
Cost of Acquisition of Development Rights
Material Costs
Development Costs and Other Expenses
Interest and Other Borrowing Costs
Interest reversal pursuant to merger scheme
Interest reversed in earlier year reversed on account of merger
Statutory Fees
Realty Costs trf on account of sale of subsidiary
Total Realty Costs for the year (A)
2014-15
687.42
0.10
25.83
64.72
200.16
5.97
(51.28)
932.92
(` in Crores)
2013-14
1.21
6.74
19.54
26.80
105.71
(221.24)
64.99
0.65
4.40
$QQXDO5HSRUW _189
Particulars
Changes in Inventory :
2SHQLQJQYHQWRU\
Finished Realty Stock
Work in Progress
Sub-total (i)
Closing Inventory :
Finished Realty Stock
Work in Progress
Sub-total (ii)
Changes in Inventory (B) = (i-ii)
&RVWVFDSLWDOLVHG7UDQVIHUUHGWR3 /&
&RVWRI5HDOW\6DOHV5HYHQXH5HFRJQLVHG$%&
2014-15
(` in Crores)
2013-14
77.73
1,243.72
1,321.45
132.84
1,297.80
1,430.64
12.56
2,161.37
2,173.93
(852.48)
80.44
77.73
1,243.72
1,321.45
109.19
113.59
67.64
77.22
bbbbbbbbbbbb
57.85
61.94
bbbbbbbbbbbbb
(` in Crores)
Particulars
Purchase of Traded Finished Goods during the year
Changes in Inventory
Opening Inventory - (i)
Closing Inventory - (ii)
Changes in Inventory - (i-ii)
Cost of Sales - Traded Finished Goods
23
b
c
2013-14
-
0.00
0.79
0.65
0.14
0.14
0.80
0.79
0.01
0.01
2014-15
Subsidiaries
Peninsula Holdings and Investments Private Limited
Renato Finance and Investments Private Limited till 30/09/2014
Peninsula Mega Properties Private Limited
Peninsula Crossroads Private Limited
Pavurotti Real Estate Private Limited
Goodtime Real Estate Development Private Limited *
Peninsula Mega Township Developers Limited
Flaxo Real Estate Private Limited (ceased to be subsidiary from 01/10/2014)
* Dilution of stake during the year
Other Entities (treated as subsidiary for consolidation)
Peninsula GSG MHP Project (AOP)
6WHS'RZQ2WKHU(QWLWLHVWUHDWHGDV6WHSGRZQVXEVLGLDULHVIRUFRQVROLGDWLRQ
Argento Real Estate LLP
Gorena Real Estate LLP
Maxis Real Estate LLP
Nebustar Real Estate LLP
Regena Real Estate LLP
Eastgate Real Estate LLP
Westgate Real Estate Developers LLP
190_$QQXDO5HSRUW
Country of
Incorporation
% of Voting
power as on
31.03.2015
% of Voting
power as on
31.03.2014
India
India
India
India
India
India
India
India
100%
100%
100%
100%
56%
57.26%
100%
-
100%
100%
100%
100%
56%
100%
100%
-
India
50%
50%
India
India
India
India
India
India
India
99%
99%
99%
99%
99%
99%
84.99%
99%
99%
99%
99%
99%
99%
84.99%
Consolidated
Notes
Particulars
Country of
Incorporation
6WHS'RZQ6XEVLGLDULHV
Inox Mercantile Company Private Limited
Peninsula Facility Management Services Limited
Peninsula Investment Management Company Limited
Peninsula Pharma Research Centre Private Limited
Peninsula Trustee Limited
Planetview Mercantile Company Private Limited
RR Real Estate Development Private Limited
Takenow Property Developers Private Limited
Peninsula Mega City Development Private Limited
Peninsula Real Estate Management Private Limited
Flaxo Real Estate Private Limited (ceased to be Step Down Subsidiary from
% of Voting
power as on
31.03.2014
100%
100%
75.01%
100%
70%
100%
100%
100%
100%
100%
-
100%
100%
75.01%
100%
70%
100%
100%
100%
100%
100%
100%
51%
100%
51%
100%
100%
100%
100%
100%
01/08/2014)
Hem Infrastructure and Property Developers Private Limited
India
Peninsula Integrated Land Developers Private Limited (Previous year India
Associate)
Midland Township Private Limited
India
Sketch Real Estate Private Limited
India
Associates
JM Realty Management Private Limited.
India
SEW Engineering (India) Private Limited.
India
RA Realty Ventures LLP
India
HEM Bhattad AOP
India
-RLQW9HQWXUH
Bridgeview Real Estate Development LLP
India
3HQLQVXOD%URRNHOGQYHVWPHQW0DQDJHUV3ULYDWH/LPLWHG
India
50%
26%
40%
18%
50%
26%
40%
18%
50%
49.67%
50%
49.67%
India
50%
50%
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH/LPLWHG
24
India
India
India
India
India
India
India
India
India
India
India
% of Voting
power as on
31.03.2015
F.Y. 2014-15
Name of Associate
(` in Crores)
Original
Cost of
Investment
Goodwill/
(Capital Reserve)
included in the
original cost of
Investments
0.00
0.00
6.54
4.53
0.40
Dividend
Investors
Share in
accumulated
3URWV
Losses
Carrying
Value
0.00
8.56
10.57
(0.10)
0.30
93.96
93.96
100.90
4.53
8.46
104.83
$QQXDO5HSRUW _191
F.Y. 2013-14
Name of Associate
(` in Crores)
Original
Cost of
Investment
Goodwill/
(Capital Reserve)
included in the
original cost of
Investments
0.00
0.00
6.54
4.53
0.40
Dividend
Investors
Share in
accumulated
3URWV
Losses
Carrying
Value
0.00
8.31
10.32
(0.10)
0.30
93.96*
93.96
100.90
4.53
8.21
104.58
Investments in associates include goodwill of ` 4.53 crores (Previous Year `4.53 crores) in respect of associate
companies.
25
Gross amount required to be spent by the company during the year ` 3.00 Crores
Sr No
Particulars
(i)
(ii)
In cash
Total
<HWWREH
SDLGLQFDVK
-
2.02
2.02
The Company undertakes its Corporate Social Responsibility (CSR) activities through Urvi Ashok Piramal
foundation. The foundation operates in areas of health, vocational skill training, environment and education.
The Company has contributed ` 2.02 crores (previous year ` 0.74 crores) to the foundation for undertaking CSR
activities. The amount expended during the year on CSR activities is lower by Rs.0.98 crs, in view of the loss
incurred during the year.
26
MAT Credit Entitlement of ` 55.59 crores (Previous year ` 61.01 crores) is based on future performance of the
Company as projected by the Management which has been relied upon by the Auditors.
27
Particulars
2014-15
2013-14
Assets
217.92
193.25
Liabilities
214.41
191.21
Income
1.65
0.15
Expense
6.41
6.55
192_$QQXDO5HSRUW
Consolidated
Notes
28
Segment Information
In accordance with AS-17, Segment Revenue, Segment results and other information are as under:
(` in Crores)
Particulars
REALTY
RENTING
OTHERS
UNALLOCABLE
ELIMINATIONS
Total
Mar-15
Mar-14
Mar-15
Mar-14
Mar-15
Mar-14
Mar-15
Mar-14
Mar-15
Mar-14
Mar-15
Mar-14
123.56
232.81
37.31
36.12
6.14
10.39
167.01
279.33
0.01
0.12
-0.01
(0.12)
Gross Turnover
123.56
232.81
37.31
36.12
6.15
10.51
-0.01
(0.12)
167.01
279.33
Net Turnover
123.56
232.81
37.31
36.12
6.15
10.51
-0.01
(0.12)
167.01
279.33
Expenditure
172.74
215.30
2.55
3.06
9.13
9.67
-0.01
(0.12)
184.41
227.91
10.00
5.47
0.36
0.49
0.29
0.57
10.65
6.53
(59.18)
12.05
34.40
32.57
(3.27)
0.28
-0.00
(28.05)
44.90
Interest Expense
115.32
99.75
0.61
1.22
26.92
11.61
(2.25)
(7.62)
140.60
104.95
Interest Income
96.24
83.71
0.87
2.24
28.57
21.60
(2.25)
(7.62)
123.43
99.92
2.28
3.49
2.28
3.49
10.05
0.01
0.04
0.04
0.11
2.22
10.20
2.27
Segment Revenue
External Turnover
Inter Segment Turnover
Depreciation/ amortization
Segment Result Before
Interest and Taxes
Interest and Taxes
Dividend Income
Other Income
Prior Period Income
3URWEHIRUHH[FHSWLRQDO
and extraordinary items
and tax
Exceptional items
3URWEHIRUH
extraordinary items and
tax
0.01
0.01
(68.21)
(3.97)
34.40
32.57
(2.97)
1.33
4.04
15.70
(0.00)
(32.74)
45.63
8.01
1.87
9.88
(60.20)
(3.97)
36.27
32.57
(2.97)
1.33
4.04
15.70
(0.00)
(22.86)
45.63
(60.20)
(3.97)
36.27
32.57
(2.97)
1.33
4.04
15.70
(0.00)
(22.86)
45.63
1.01
12.63
1.01
12.63
Extraordinary items
3URWEHIRUHWD[
Current tax
(10.33)
(10.33)
Deferred tax
(20.49)
(24.24)
(20.49)
(24.24)
7D[(HFWRQ'HSUHFLDWLRQ
Charged to Reserve
0.44
0.44
7D[(HFWRQ'HEHQWXUH
issue expenses
3.36
4.16
3.36
4.16
7D[HHFWRQPHUJHU
reserves pursuant to change
in useful life of assets
4.55
21.05
4.55
21.05
(2.97)
1.33
15.17
12.43
(11.73)
42.36
3.12
(0.53)
0.15
0.80
3URWDIWHUWD[EHIRUH
minority interest and
VKDUHLQSURWVORVVHVRI
associates
Add: Share of Associates
Less: Minority Interest
1HW3URWDIWHUWD[EHIRUH
extraordinary items and
prior period items
(60.20)
(3.97)
0.24
0.24
(0.18)
(0.25)
(60.14)
(3.98)
36.27
36.27
32.57
32.57
15.17
12.43
(0.00)
(0.00)
0.24
0.24
2.94
(0.78)
(8.55)
41.83
$QQXDO5HSRUW _193
(` in Crores)
Particulars
REALTY
Mar-15
RENTING
OTHERS
UNALLOCABLE
ELIMINATIONS
Total
Mar-14
Mar-15
Mar-14
Mar-15
Mar-14
Mar-15
Mar-14
Mar-15
Mar-14
3,484.82 2,502.99
29.08
21.86
28.00
24.92
752.13
825.37
(32.92)
(0.51)
(0.10)
Mar-15
Mar-14
Other Information
Segment Assets
Segment Liabilities
Borrowings
Trade Liabilities
2,096.01
1,401.60
533.29
344.98
1.82
4.94
11.05
11.65
Minority Interest
Capital Expenditure
Depreciation/ amortization
Non cash expenses other
than Depreciation and
Amortisation
12.12
15.13
133.30
61.65
2,096.01 1,401.60
557.77
376.61
133.30
61.65
6.72
3.88
6.72
3.88
10.00
5.47
0.36
0.49
0.29
0.57
10.65
6.53
0.11
0.06
0.38
0.49
0.06
29 3UHYLRXV \HDU JXUHV KDYH EHHQ UHJURXSHG UHFODVVLHG ZKHUHYHU QHFHVVDU\ WR FRQUP WR FXUUHQW
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31 7KH&RPSDQ\LVUHJLVWHUHGZLWK0LQLVWU\RI&RUSRUDWH$DLUVXQGHU&1/0+3/&
Urvi A. Piramal
Chairperson
DIN 00044954
Rajeev A. Piramal
Vice Chairman &
Managing Director
DIN 00044983
Mahesh S. Gupta
Group Managing Director
DIN 00046810
Chetan Desai
Partner
Membership No. 17000
Bhavna Doshi
Director
DIN 00400508
Deepak Summanwar
Director
DIN 02017830
3ODFH0XPEDL
Date : 9th May 2015
Pradipta Mohapatra
'LUHFWRU
DIN 00066239
Bharat Sanghavi
&KLHI)LQDQFLDO2FHU
Rajashekhar Reddy
&RPSDQ\6HFUHWDU\
194_$QQXDO5HSRUW
Consolidated
Notes
As per Requirement of Clause 2 of General Instructions for the preparation of Consoliodated statements of Schedule
III of Company's Act 2013
Sr No. Name of the Entity
Holding %
As % of
Consolidated
Net Assets
6KDUHQ3URWRU/RVV
` in Crore
As % of
` in Crore
Consolidated
3URWRU/RVV
100.00%
102.19%
1506.36
73.92%
(6.32)
INDIAN SUBSIDIARIES
2
99.00%
1.00%
0.00%
(0.00)
0.02%
(0.00)
99.00%
1.00%
0.00%
0.00
0.02%
(0.00)
100.00%
-0.55%
0.05
57.26%
174.67
1.64%
(0.14)
99.00%
1.00%
0.00%
(0.00)
0.02%
(0.00)
51.00%
49.00%
7.03%
103.69
-6.43%
0.55
0.00%
(0.06)
0.10%
(0.01)
0.00%
(0.00)
0.02%
(0.00)
10
0.00%
0.00
0.02%
(0.00)
11
99.00%
1.00%
0.00%
(0.00)
0.02%
(0.00)
12
56.00%
44.00%
0.00%
(0.03)
0.23%
(0.02)
13
100.00%
2.07%
30.57
-21.17%
1.81
14
30.00%
0.01%
0.17
-0.12%
0.01
15
0.64%
9.44
-10.04%
0.86
16
0.20%
2.91
0.12%
(0.01)
17
100.00%
-0.18%
(2.71)
-1.36%
0.12
18
100.00%
0.03%
0.47
0.03%
(0.00)
19
1.69%
24.97
6.07%
(0.52)
20
100.00%
0.00%
(0.01)
0.03%
(0.00)
21
100.00%
0.01%
0.09
-0.12%
0.01
22
100.00%
-0.03%
(0.41)
0.02%
(0.00)
23
100.00%
0.00%
(0.03)
0.10%
(0.01)
24
100.00%
0.00%
(0.01)
0.03%
(0.00)
25
100.00%
0.00%
(0.06)
0.10%
(0.01)
26
0.00%
(0.00)
0.02%
(0.00)
42.74%
100.00%
99.00%
1.00%
100.00%
70.00%
100.00%
50.00%
75.01%
99.00%
50.00%
24.99%
1.00%
11.85%
$QQXDO5HSRUW _195
Holding %
As % of
Consolidated
Net Assets
` in Crore
6KDUHQ3URWRU/RVV
As % of
` in Crore
Consolidated
3URWRU/RVV
27
100.00%
-0.72%
(10.58)
32.93%
(2.82)
28
100.00%
0.00%
0.00
4.21%
(0.36)
29
100.00%
0.00%
0.00
0.02%
(0.00)
30
100.00%
-0.16%
(2.41)
1.99%
(0.17)
31
84.99%
2.88%
42.47
0.05%
(0.00)
-34.44%
2.94
0.10%
0.00
15.01%
-9.04%
(133.30)
-19.13%
(281.92)
INDIAN ASSOCIATES
(As per equity method)
1
50.00%
0.00%
(0.00)
40.00%
0.02%
0.30
0.02%
(0.00)
26.00%
1.62%
6.20
-2.79%
0.24
50.00%
0.00%
0.01
0.25%
(0.02)
3HQLQVXOD%URRNHOG7UXVWHH3ULYDWH
Limited
50.00%
0.00%
0.02
-0.12%
0.01
3HQLQVXOD%URRNHOGQYHVWPHQW
Managers Private Limited *
49.67%
0.22%
3.23
55.13%
(4.71)
100%
1474.04
100%
8.55
Total
$VSHU6FKHGXOHRIWKH&RPSDQ\
V$FW6KDUHRISURWRU/RVVRI)LUP//3FRQVLGHUHGLQ6WDQGDORQH)LQDQFLDORI3DUHQW
Company
# Associates of Hem Infrastructure and Development Private Limited - Financial Statements of HEM Bhattad AOP till date not
available
* Joint Venture of Peninsula Investment Management Company Limited
196_$QQXDO5HSRUW
Consolidated
Cash Flow Statement
Notes
Particulars
CASH FLOW FROM OPERATING ACTIVITIES
1HWSURWEHIRUH7D[
Adjustments for :
Add :
Depreciation
Adjustment on Merger / Capital Reserve acquired on Merger
Interest expenses
&KDUJHGR/RVVRQ6DOHRI)L[HG$VVHWV
Adjustment on Consolidation (Acquisition of Subsidiary / Joint
venture)
2014-2015
2014-2015
2013-2014
(32.74)
10.65
140.60
0.07
0.20
45.63
6.53
(227.81)
104.95
151.52
Less:
Dividend Income
CSR Expenses Charged to Reserve
Reversal of Excess Depreciation
Prior Period Expenses / (Income)
Interest Income
2SHUDWLQJSURWEHIRUHZRUNLQJFDSLWDOFKDQJHV
Adjustments for :
Less:
(Incease)/Decrease in Trade Receivables
(Incease)/Decrease in Inventories
(Incease)/Decrease in Loans & Advances (Long term)
(Incease)/Decrease in Loans & Advances (Short term)
(Incease)/Decrease in Other current Assets
Incease/(Decrease) in Trade Payables
Incease/(Decrease) in Long Term Provision
Incease/(Decrease) in Long Term Liabilities
Incease/(Decrease) in Other Current Liabilities
Incease/(Decrease) in Short term provision
2.28
2.02
0.03
123.43
(116.33)
3.49
(0.01)
99.92
127.76
(8.98)
138.87
(852.34)
11.75
(68.25)
(0.20)
20.77
1.66
0.05
79.95
1.10
103.40
(174.10)
(151.16)
109.21
(38.71)
11.75
19.00
(33.93)
(1.02)
33.63
0.31
(666.64)
(675.62)
(12.15)
(687.77)
(` in Crores)
2013-2014
(50.92)
(225.02)
(16.03)
(241.05)
(1.87)
(0.03)
-
2.39
(0.04)
0.05
70.24
(0.00)
0.13
(12.83)
(2.03)
16.47
74.59
50.70
(0.01)
(1.37)
(9.98)
0.24
14.24
0.51
4.84
(12.87)
$QQXDO5HSRUW _197
Particulars
Movement in Margin money deposit account
Loans & Advances given
Loans & Advances repaid
Dividend Income
Interest Received
1HWFDVKRZIURPQYHVWLQJ$FWLYLWLHV%
C
2014-2015
(0.13)
(97.56)
5.70
2.28
106.65
2014-2015
2013-2014
(0.10)
(35.43)
80.66
3.49
98.69
(` in Crores)
2013-2014
142.07
(11.18)
(1.90)
(59.96)
0.02
65.00
256.20
(290.00)
(343.76)
555.00
225.00
(155.93)
117.00
(28.34)
294.25
(3.36)
(6.52)
215.55
(41.89)
(7.12)
(90.76)
203.30
45.98
(75.00)
(380.89)
257.00
(18.23)
75.99
(29.69)
72.35
(4.16)
(8.08)
611.52
65.82
139.90
42.60
162.80
0.32
(1.20)
(26.70)
166.60
50.06
89.51
0.33
205.72
139.90
NOTE : 1 During the Previous year 2013-2014 Company has invested ` 14.18 Cr in Subsidiary Companies and same have been
cancelled under Composite scheme of Arrangement and amalgamation u/s 391 to 394 of the Companies Act 1956 .Hence the said
WUDQVDFWLRQVDUHQRWUHHFWHGLQWKHFDVKRZVWDWHPHQWV
As per our attached report of even date
Urvi A. Piramal
Chairperson
DIN 00044954
Rajeev A. Piramal
Vice Chairman &
Managing Director
DIN 00044983
Mahesh S. Gupta
Group Managing Director
DIN 00046810
Chetan Desai
Partner
Membership No. 17000
Bhavna Doshi
Director
DIN 00400508
Deepak Summanwar
Director
DIN 02017830
3ODFH0XPEDL
Date : 9th May 2015
Pradipta Mohapatra
'LUHFWRU
DIN 00066239
Bharat Sanghavi
&KLHI)LQDQFLDO2FHU
Rajashekhar Reddy
&RPSDQ\6HFUHWDU\
198_$QQXDO5HSRUW
5HJG2FH3HQLQVXOD6SHQWD0DWKXUDGDV0LOOV&RPSRXQG6HQDSDWL%DSDW0DUJ
Lower Parel, Mumbai 400 013 CIN : L17120MH1871PLC000005
Telephone No: 022 66229300 Website: www.peninsula.co.in email:- investor@peninsula.co.in
PROXY FORM
[Pursuant to section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies (Management and
Administration) Rules, 2014]
Name of the Member (s):- .....
Address :- ............
E-mail id :- .....
Folio No. Client ID No.:-.....................................DP ID No...........................................
I/We, being the member (s) of..... shares of Peninsula Land Limited, hereby appoint
1.
Name : ...
Address : ...
........
E-mail Id:- ... Signature :..........
or failing him
2.
Name : ...
Address : ...
........
E-mail Id:- ... Signature :..........
or failing him
3.
Name : ...
Address : ...
........
E-mail Id:- ... Signature :..........
as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 143rd. Annual General Meeting
of the company, to be held on Friday, August 28, 2015, at 3.00 p.m. at Hall of Culture, Nehru Centre, Dr. Annie
Beasant Road, Worli, Mumbai :- 400 018 and at any adjournment thereof in respect of such resolutions as are
indicated below:
1.
4.
5.
6.
7.
To receive, consider and adopt the Standalone and Consolidated Financial Statements of the Company for the
QDQFLDO\HDUHQGHG0DUFKDQGWKH5HSRUWVRIWKH'LUHFWRUVDQG$XGLWRUVWKHUHRQ
7RGHFODUHGLYLGHQGRQSUHIHUHQFHDQGHTXLW\VKDUHVRIWKH&RPSDQ\IRUWKHQDQFLDO\HDUHQGHG0DUFK
2UGLQDU\5HVROXWLRQIRUQRWWROOWKHYDFDQF\WREHFDXVHGE\UHWLUHPHQWRI0U'03RSDWDWWKH$*0UHWLULQJ
Director.
Ordinary Resolution for re-appointment of M/s. Haribhakti & Co LLP. as Statutory Auditors of the Company for
WKH)<DQG[LQJWKHLUUHPXQHUDWLRQ
Special Resolution for re-appointment of Mr. Rajeev A. Piramal as Managing Director to be designated as Vice
- Chairman and Managing Director for a period of 5 years w.e.f. October 26, 2015.
Special Resolution for re-appointment of Mr. Mahesh S. Gupta as Managing Director to be designated as Group
Managing Director for a period of 5 years w.e.f. October 26, 2015.
Special Resolution to approve issue of Non Convertible Debentures (NCD) on private placement basis.
$[
Revenue
Stamp
1RWH7KLVIRUPRISUR[\LQRUGHUWREHHHFWLYHVKRXOGEHGXO\FRPSOHWHGDQGGHSRVLWHGDWWKH5HJLVWHUHG2FHRI
WKH&RPSDQ\QRWOHVVWKDQKRXUVEHIRUHWKHFRPPHQFHPHQWRIWKH0HHWLQJ
5HJG2FH3HQLQVXOD6SHQWD0DWKXUDGDV0LOOV&RPSRXQG6HQDSDWL%DSDW0DUJ
Lower Parel, Mumbai 400 013 CIN : L17120MH1871PLC000005
Telephone No: 022 66229300 Website: www.peninsula.co.in email:- investor@peninsula.co.in
ATTENDANCE SLIP
I/We hereby record my/our presence at the 143rd Annual General Meeting of the Company held at Hall of Culture,
Nehru Center, Dr. Annie Besant Road, Worli, Mumbai 400 018, on Friday, 28th August, 2015 at 3.00 p.m.
1.
2.
Member/ Proxy holder should bring his/her copy of the Annual Report for reference at the Meeting.
Notes
Notes
Corporate Information
Board of Directors
Ms. Urvi A. Piramal
(Chairperson)
Bankers/ Financial
Institutions
Allahabad Bank
Group CFO
Mr. Dinesh Jain
CFO
Mr. Bharat Sanghavi
Company Secretary
Mr. Rajashekhar Reddy
Auditors
M/s. Haribhakti & Co. LLP
Chartered Accountants
HDFC Limited
5HJLVWHUHG2FH
Peninsula Spenta
Mathuradas Mill Compound,
Senapati Bapat Marg,
Lower Parel, Mumbai 400 013.
CIN: - L17120MH1871PLC000005
Peninsula Spenta
Mathuradas Mill Compound
Senapati Bapat Marg
Lower Parel, Mumbai - 400 013
Tel.: +91 22 66229300
www.peninsula.co.in