Vascon Engineers Limited — Interim / Quarterly Report 2021

Jun 30, 2021

June 30, 2021

To. National Stock Exchange of India Limited Listing Department, Exchange Plaza, Bandra (E), Mumbai - 400 051

To. BSE Limited, The Department of Corporate Services Phiroze Jeejeebhoy Towers, Dalal Street, Fort. Mumbai 400 001

Ref Symbol: VASCONEQ

Ref: Scrip Code: 533156

Dear Sir/Madam,

Subject: Disclosure of Related Party Transactions pursuant to Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.

In terms of Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith disclosure of Related Party Transactions on a consolidated basis, in the format specified in the Accounting Standards for the half year ended March 31, 2021.

We request you to kindly take the same on record.

Thanking you,

For Vascon Engineers Limited

$2k$

Somnath Biswas Chief Financial Officer

Enclosures: As above

VASCON ENGINEERS LTD.

Registered & Corporate Office: Vascon Weikfield Chambers, Behind Hotel Novotel, Opposite Hyatt Hotel, Pune Nagar Road, Pune Maharashtra, India,411014 Tel.: +91 20 3056 2100/200/300, Fax: +91 20 3056 2600, Web: www.vascon.com

CIN: L70100PN1986PLC175750

Vascon Engineers Limited Notes forming part of the financial statements

Note 33 : Related Party Transactions

I Names of related parties

• 1. Joint Ventures
• Phoenix Ventures
• Cosmos Premises Private Limited
• Ajanta Enterprises
• Vascon Saga Constructions LLP
• Vascon Qatar WLL

2. Associates

• Sita Laxmi Mills Ltd
• Mumbai Estate Private Limited

3. Key Management Personnel

• Mr. R. Vasudevan
• Mr. Siddarth Vasudevan
• Dr Santosh Sundararajan
• Mr. Somnath Biswas (appointed w.e.f. 01.09.2019)
• Mr. D.Santhanam (Retired w.e.f31.08.2019)
• Ms. Vibhuti Dani
• Mr. Rajesh Mhatre

Other Directors

• Mr. V Mohan
• Mr. K G Krishnamurthy
• Mr. Mukesh Malhotra
• Ms. Sowmya Aditya Iyer

4. Relatives of Key Management Personnel

• Mrs. Thangam Moorthy
• Mrs. Lalitha Vasudevan
• Mrs. Lalitha Sundararajan
• Mrs. Shilpa Shivaram
• Mrs. Sailaxmi Santhanam Mudaliar (upto 31.08.2019)
• Ms Aishwarya Santhanam (upto 31.08.2019)

1. Establishments where in which individuals in serial number $(4)$ and $(5)$ exercise significant Influence

• Flora Facilities Private Limited (Formerly known as Flora Premises Private Limited)
• Vastech Consultants Private Limited
• Vastech consultants and engineers LLP
• Vatsalya Enterprises Private Limited
• Bellflower Premises Private Limited
• Cherry Construction Private Limited
• Stresstech Engineers Pvt Ltd.
• Syringa Engineers Private Limited (Formerly known as Syringa Properties Private Limited)
• Vascon Infrastructure Limited
• Venus Ventures
• Seraphic Design Private Limited
• Sira Assets LLP
• Hamcon Engineers Pvt Ltd
• Daffodil Projects Pvt Ltd
• Conamore Resorts Pvt Ltd.
• Rose Premises Pvt Ltd
• One Stop Shop India P Ltd
• Space Centric Marketing & Construction Consultancy Pvt Ltd
• D. Santanam (HUF) Upto 31.08.2019

$Engin$ 3s PUNE

		(Amount in ₹)
	II Related party transactions	Oct to Mar 21
(a)	Sales and work	58,142,364
	Joint Ventures
	Phoenix Ventures	14,325,439
	Ajanta Enterprises	15,752,858
	Total	30,078,297
	Key management PersonnelMr. R. Vasudevan
	Mr.Mukesh Malhotra	128,443
	Dr Santosh Sundararajan	605,517
	Total	733,960
	Enterprise where KMP & Relatives of KMP significant influence
	Cherry Constructions Private Limited.	27,330,107
	Total	27,330,107
(b)	Interest Income/commission Received	5,842,908.20
	Joint Venture
	Ajanta Enterprises	4,223,824
	Enterprise where KMP & Relatives of KMP significant influence	4,223,824
	Conamore Resorts Pvt Ltd.	1,619,084
		1,619,084.00
(c)	Interest Expense /commission Paid	7,404,676
	Joint VentureAjanta Enterprises
	Total	821,918821,918
	Enterprise where KMP & Relatives of KMP significant influence
	Flora Facilities Private Limited	1,829,992
	Hamcon Engineers Pvt Limited	901,917
	Space Centric Marketing & Construction Consultancy Pvt Ltd	179,870
	Sira Assets LLPTotal	3,670,979
		6,582,758
(d)	Purchase of Goods / Work/Rent	16,152,363
	Enterprise where KMP & Relatives of KMP significant influence
	Rent
	Flora Facilities Private Limited	10,716,832
	WorksVastech Consultants & Engineers LLP
	Total	5,435,53116,152,363
(e)	Receiving of Services	60,682,184
	Key Management Personnel
	Mr R Vasudevan
	a) Short term benefits	500,000
	b) Post Employment benefits*
	Dr Santosh Sundararajana) Short term benefits **	16,625,594
	b) Post Employment benefits*	10,800
	c) Share based payments	3,672,813
	Mr. Somnath Biswas **
	a) Short term benefits	5,439,375
	b) Post Employment benefits*	10,800
	c) Share based payments	994,625
	Mr. Siddharth Vasudevan **a) Short t erm benefits
	b) Post Employment benefits*	12,834,78910,800
	Mr. Rajesh Dilip Mhatre **
	a) Short term benefits	12,416,265
	b) Post Employment benefits*	10,800
	c) Share based payments	3,672,813
	Ms. Vibhuti Darshin Dani
	a) Short term benefitsb) Post Employment benefits*	1,024,75410,800
	Total	57,235,028

*Post employement benefit represents contribution to provident fund. As Gratuity expenses is based on actuarial valuations, thesame cannot be computed for individual employees and hence not included

** During the current financial year 2020-2021, the company has revised the salary structure of Key management personnel andtheir short term employment benefit represents Salary Net of Tax. Key Management Personnel wise T

Name of the KMP	₹ in Lakhs
a) Mr. Santosh Sundarajan	₹138.78
b) Mr. Somnath Biswas	₹ 34.44
c) Mr. Rajesh Dilip Mahtre	₹ 90.20
d) Mr. Siddharth Vasudevan	₹100.68

During the previous financial year 2019-2020 short term employment benefits represents gross salary received by KMP.

	Enterprise where KMP & Relatives of KMP significant influence
	Flora Facilities Private Limited	387,000
	Vastech Consultants Private Limited	3,060,156
	Total	3,447,156
	Share of Profit from AOP/Firm
(f)		495,859
	Joint Venturesk
	Phoenix Ventures	495,859
	Total	495,859
(g)	Share of Loss from AOP/Firm	4,395,607
	Joint Ventures
	Ajanta Enterprises	4,395,607
	Total	4,395,607
	(h) Reimbursement of expenses	478,931
	Enterprise where KMP & Relatives of KMP significant influence
	Flora Facilities Private Limited	478,931
		478,931
(i)	Finance Provided (including equity contributions in cash or in kind)/repayment of loan/repayment offixed deposit	75,152,972
	Joint Ventures
	Ajanta Enterprises	1,000,000
	Total	1,000,000
	Enterprise where KMP & Relatives of KMP significant influence
	Hamcon Engineers Pvt Ltd	60,000,000
	Daffodil Projects Pvt Ltd	500,000
	Conamore Resorts Pvt Ltd.	12,532,065
	Total	73,032,065
	Key Management Personnel
	Mr. Siddharth Vasudevan	1,120,907
	Total	1,120,907
O)	Finance availed /Received back(including equity contributions in cash or in kind)	222,519,148
	Joint Ventures
	Ajanta Enterprises	110,819,148
	Total	110,819,148
	Enterprise where KMP & Relatives of KMP significant influence
	Flora Facilities Private Limited
	SIRA ASSETS LLP	18,500,000
		25,000,000
	Hamcon Engineers Pvt Ltd	25,800,000
	Daffodil Projects Pvt Ltd	200,000
	Conamore Resorts Pvt Ltd.	16,200,000
	Total	85,700,000
	Key Management Personnel
	Mr. R. Vasudevan	26,000,000
	Total	26,000,000
(k)	Outstanding as on
	A) Receivable to Vascon Engineers Limited	729,680,739
	Joint Ventures	105,055,057
	a) Trade Receivable
	Phoenix Ventures	67,249,164
	Cosmos Premises Private Limited	1,352,721
	Total	68,601,885
	b) Loans & Advances
	Phoenix Ventures	984,725
	Total	984,725
	c) Balance in current accounts
	Phoenix Ventures	35,468,447	$E \cap g_I$
	Total	35,468,447
			œ

5

$\star$

Associates	256,300,010
a) Loans & Advances (Including deposits and trade advances)
Mumbai Estate Private Limited	256,300,010
Total	256,300,010
Enterprise where KMP & Relatives of KMP significant influence	346,185,863
a) Trade Receivable
Flora Facilities Private Limited (Formerly known as Flora Premises Private Limited)	6,206,406
Daffodil Projects Pvt Ltd	42,726,789
Rose Premsies Pvt Ltd	64,900
Cherry Constructions Private Limited.	24,551,980
Total	73,550,075
b) Loans & Advances (Including deposits and trade advances)
Flora Facilities Private LimitedCONAMORE RESORTS PVT LTD.	12,500,000
Daffodil Projects Pvt Ltd	16,897,504
Rose Premsies Pvt Ltd	777,893171,975,100
One Stop Shop India Pvt Ltd	32,035,307
Venus Ventures	38,449,984
Total	272,635,788
Key Management Personnel	22,139,810
a) Trade Receivable
Mr. R. Vasudevan	334,127
Mr.Santosh Sundararajan	1,205,683
Total	1,539,810
b) Loans & Advances (Including deposits and trade advances)
Mr. Mukesh Malhotra	20,600,000
	20,600,000
B) Receivable from Vascon Engineers Limited	279,531,447
Joint Venture	98,816,870
a) Trade Payable
Ajanta Enterprises	539,413
Total	539,413
b) Loans & Advances
Cosmos Premises Private Limited	5,000,000
Total	5,000,000
c) Balance in current accounts
Ajanta Enterprises	93,277,457
Total	93,277,457
Key Management Personnela) Trade Payable	62,392,013
Mr. Mukesh Malhotra	11,892,013
	11,892,013
b) For Deposit Received
Mr. R Vasudevan	50,500,000
Total	50,500,000
Enterprise where KMP & Relatives of KMP significant influence	118,322,564
a) Trade Payable
Flora Facilities Private Limited ((Formerly known as Flora Premises Private Limited))	848,357
Stresstech Engineers Private Limited	2,857,065
Vastech Consultants & Engineers LLP	2,937,375
Vastech Consultants Private Limited	10,007,844
Space Centric Marketing & Construction Consultancy Pvt Ltd	1,955,356
Total	18,605,997
b) Loans/(Advances)Flora Facilities Private Limited
Hamcon Engineers Pvt Limited	41,756,185
Sira Assets LLP	6,412,87751,547,505

Notes:-i) Related party relationships are as identified by the Company on the basis of information available and accepted by the auditors.

Engine Vascom PUNE $\star$

ii) No provision have been made in respect of receivable from related party as at March 31, 2021