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PSP Projects Limited Interim / Quarterly Report 2020
61476_rns_2019-11-20_7b996e5b-f920-4f2e-91d2-07ada2a82f5f.pdf
Interim / Quarterly Report
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RefNo:PSPPROJECT/SE/74/19-20 November 20,2019
Corporate Relations Department BSE Limited Floor 25, P.}.Towers, Dalal Street, Mumbai- 400 001 Scrip code: 540544
Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400051 Scrip Symbol: PSPPRO]ECT
Dear Sir/Madam,
Subject: Disclosure under Regulation 23(9) of the SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015
Pursuant to Regulation 23 (9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Disclosure of Related Party Transactions on a consolidated basis in the format specified in the relevant accounting standards for the half year ended September 30, 2019.
The same is available on the Company's website: www.pspprojects.com.
Kindly take the same on your record.
Thanking You,
For PSP Projects Limited
~
Mi hristachary Company Secretary
End: As above.
'PSP House', Opp. Celesta Courtyard, Opp. Lane of Vikramnagar Colony, ISCON - Ambali Road, Ahmedabad-380 058. Phone : 079 - 2693 6200, 2693 6300, 2693 6400 I Fax No. : 079 - 2693 6500 I Email: [email protected] I URL : www.pspprojects.com CIN : L45201 GJ2008PLC054868
Certified Company
PSP PROJECTS LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2019
Related party transactions
Related Party Disclosures: (I) Names of the related parties and description of relationship
As per the Indian Accounting Standard-24 on "Related Party Disclosures", list of related parties identified of the Company are as follows.
| (a) AssociatelJointVenture | ||
|---|---|---|
| Name of the entity | Type | |
| Mis. GDCL and PSP Joint Venture | Joint Venture | |
| P & J Builders LLC | Step down Foreign Joint Venture-Level-l | |
| PSP FremontLLC | Step down Foreign Joint Venture - Level-l | |
| GuttenbergProjects LLC | Step down Foreign Joint Venture - Level-II |
| Name oftheKey ManagementPersonnel | Status | |
|---|---|---|
| Prahaladbhai S. Patel | Chairman & Managing Director | |
| Shilpaben P. Patel | Whole Time Director | |
| Pooja P. Patel | DirectorExecutive | |
| Chirag Narendra Shah | IndependentDirector | |
| Sandeep Himmatlal Shah | IndependentDirector | |
| VasishthaPramodbhaiPatel | IndependentDirector | |
| Hetal Patel | Chief Financial Officer | |
| Mittali Christachary | Company Secretary (From April 7, 2018) | |
| Name oftheRelative | Relation | |
| Sagar P. Patel | Son of Chairman & Managing Director | |
| Dinubhai Patel | Brother of Chairman & Managing Director |
(c) Entities controlled by Directors / Relatives of Directors:
| Name of the Entities | |||
|---|---|---|---|
| PSP Properties Private Limited (Formerly Known as PSP Products Private Limited) | |||
| Sprybit Softlabs LlP | MIs. A P Constructions | ||
| Shilp Products LLP | Mis. SIM Developers |
Iii) Transactions with related parties:
| Iii) Transactionswith related parties: | (Rs. in Lakhs) | |
|---|---|---|
| Particulars | For the half year ended on | For the half year ended on |
| September 30,2019 | 30, 2018September | |
| Interest Income | ||
| Mis. GDCL and PSP Joint Venture | 74.04 | 75.29 |
| P & J Builders LLC | 63.58 | 66.35 |
| PSP Fremont LLC | 21.17 | |
| Interest Expenses by Subsidiary | ||
| Prahaladbhai S. Patel | 6.00 | 0.09 |
| Receipt of Services | ||
| MIs. A P Constructions | 374.62 | 247.78 |
| Dinubhai Patel | 12.50 | 12.25 |
| Sprybit Softlabs LLP | 4.92 | |
| Prahaladbhai S. Patel | 26.49 | 25.23 |
| Sale of Concrete Mix | ||
| Mis. SIM Developers | 5.39 | |
| MIs. GDCL and PSP Joint Venture | 2.57 | |
| Reimbursementsof Expenses | ||
| Mis. GDCL and PSP Joint Venture (BG Charges) | (0.67) | |
(ii) Transactions with related parties: (Cont .•)
| Particulars | 2019·20 | 2018-19 |
|---|---|---|
| Share of Profit I (LOS5)from Joint Venture | ||
| Mis. GDCL and PSP Joint Venture | 47.17 | |
| P & J Builders LLC | (2.56) | (3.61) |
| PSP Fremont LLC | (1.13) | |
| Director's Sitting Fees Paid | ||
| Chirc3lgNarendra Shah | 0.15 | 0.45 |
| Sandeep Himmatlal Shah | 0.30 | 0.45 |
| Vasishtha Pramodbhai Patel | 0.30 | 0.45 |
| Remuneration/ Salary | ||
| Prahaladbhal S. Patel | 270.00 | 270.00 |
| Shilpaben P. Patel | 90.00 | 90.00 |
| Pooja P. Patel | 51.00 | 51.00 |
| Sagar P. Patel | 1.63 | 0.39 |
| Hetal Patel | 12.25 | 10.47 |
| Mittali Christa chary | 3.31 | 2.54 |
| loan Received from Director by Subsidiary | ||
| Prahaladbhai S. Patel | 10.00 | |
| Loan Repaid to Director by Subsidiary | ||
| Prahaladbhai S. Patel | 10.00 | |
| Investment |
'PSP House', Opp. Celesta Courtyard, Opp. Lane of Vikramnagar Colony, ISCON - Amba) Phone : 079 - 2693 6200, 2693 6300, 26936400 I Fax No. : 079 - 2693 6500 IEmail : info,@IlI~~~5PJfn CIN : L45201GJ2008PLC054868 I URL : www.pspprojects.com
pSP Projects Ltd.
ISO 9001 : 2015,14001 : 2015,45001 : 2018 Certified Company
| PSP Fremont LLC | 0.07 | |
|---|---|---|
| Loan Given | ||
| P & J Builders LLC (Net) | (1.621.79) | |
| PSP Fremont LLC (Net) | 1.798.50 | |
| MIs. GDCL and PSP Joint Venture (Net) | (120.00) | 945.00 |
| As at | As at | |
|---|---|---|
| Particulars | September 30, 2019 | September 30, 2018 |
| Investment | ||
| Mis. GDCL and PSPJoint Venture | 44.59 | 44.59 |
| P & J Builders LLC | 1.79 | 1.79 |
| PSP Fremont LLC | 0.07 | |
| Trade Receivables | ||
| Mis. SIM Developers | 3.52 | |
| Loans Receivable by Holding Co. | ||
| P & J Builders LLC | 710.46 | 2.002.02 |
| PSP Fremont LLC | 1.798.50 | |
| MIs. GDCL and PSP Joint Venture | 1,057.50 | 1,502.50 |
| Mjs. GDCL and PSP Joint Venture(Cr. Balance in currentcapital) | (93.49) | (155.0S) |
| Loans Payable by Subsidiary Co. | ||
| Prahaladbhai S. Patel | 100.00 | |
| tnterest Payable by Subsidiary Co. | ||
| PrahaladbhaiS. Patel | 5.40 | |
| Trade Payables | ||
| MIs. A P Constructions | 81.06 | |
| Dinubhai Patel | 6.25 | 5.40 |
| Other Financial Assets (Interest Receivable) | ||
| MIs. GDCL and PSP Joint Venture | 244.91 | 95.30 |
| P & J Builders LLC | 22.S0 | 35.32 |
| PSP Fremont LLC | 21.38 | |
| Provision for loss /Loss on investment | ||
| P & J Builders LLC | (20.96) | (12.57) |
| PSP Fremont LLC | (1.13) | |
| I Salary PayableRemuneration | ||
| Prahaladbhai S. Patel | 24.65 | 28.85 |
| Shilpaben P. Patel | 9.35 | 10.32 |
| Pooja P. Patel | 5.48 | 5.85 |
| Saga r P. Patel | 0.26 | 0.21 |
| Hetal Patel | 1.66 | 1.37 |
| Mittali Christachary | 0.55 | 0.45 |
liv) Other Notes:
a. Transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions.
All the credit facilities of Rs. 61,000 Lacs and Term loan of Rs. 79.33 Lacs as on 30.09,2019 are guaranteed by Managing Director Mr. Prahaladbhai S. Patel, b. Whole-time Director Mrs, Shilpaben P Patel, and Executive Director Ms. Pooja P. Patel, and secured against collateral securities held in the name of company and Managing Director Mr. Prahaladbhai S. Patel.
