Professional Documents
Culture Documents
SATRA
G R 0 U P
ISO 9001 2008 Company
To,
BSE Limited
Listing Department
E-mail: corp.relations@bseindia.com
The Meeting of the Board of Directors of the Company commenced at 11.00 a.m. and concluded at
11.45 a.m.
~k-
~
Manan Y. Udani
Company Secretary & Compliance Officer
End: as above
PRAFU
Digitally signed by PRAFUL NANJI
SATRA
DN: c=IN, o=Personal , CID -
4634133,
L NANJI
2.5.4.20=8afbccb7b8f6265490b495
8872eb4e0d844ec2aeb7d3d786dca
b22f0f1e4ce0f, postalCode=400054,
st=Maharashtra,
serialNumber=0e19667d3120b6b3
SATRA
9108f1a81da383e0300d85adc7799
d7544578798e6073d7a,
cn=PRAFUL NANJI SATRA
Date: 2017.02.10 12:09:17 +05'30'
NANJI
b4e0d844ec2aeb7d3d786dcab22f0f1e4ce
0f, postalCode=400054, st=Maharashtra,
serialNumber=0e19667d3120b6b39108f1
a81da383e0300d85adc7799d7544578798
SATRA
e6073d7a, cn=PRAFUL NANJI SATRA
Date: 2017.02.10 12:09:36 +05'30'
NOTES-
The above results were reviewed by the Audit Committee held on 9 Febmary 2017 and thereafter approved and taken on record by the Board 0
Directors at its meetings held on 10 Febmary 2017. The statutory auditor of the Company have carried out limited review of the financial results.
2 Income from real estate sales is recognised on the transfer of significant risks and rewards of ownership to the buyers and it is not unreasonable to
expect ultimate collection and no significant uncertainty exists regarding the amount of consideration. However if, at the time of transfer
substantial acts are yet to be performed under the contract, revenue is recognised on proportionate basis as the acts are performed, i.e., on the
percentage of completion basis.
Revenue from construction contracts, where the outcome can be estimated reliably, is recognised under the percentage of completion method by
reference to the stage of completion of the contract activity.
Determination of revenues under the percentage of completion method necessarily involves making estimates by the Company some of which are
of a technical nature, concerning, where relevant, the percentage of completion, costs to completion, the expected revenues from the
project/activity and the foreseeable losses to completion. The estimates of costs are periodically reviewed by Management and the effect 0
changes in estimates is recognised in the period such changes are recognised, when the total cost is estimated to exceed total revenue from the
project, the loss is recognised immediately.
3 The Company is operating in a single Segment i.e. Real Estate Development, work contracts, trading in Properties and Transferable Development
Rights and has only domestic sales. Therefore there is only one reportable segment in accordance with the Accounting Standard on Segment
Reporting (AS-17).
4 Considering the nature of the business carried on by the company whereby revenues do not necessarily accrue evenly over the projects' period, the
revenues of the year may not be strictly comparable with the results of the corresponding year.
5 During the quarter and nine month ended 31 December 2016, the Company has revised the estimated cost of one of its project and reduced by Rs.
8.74 crores. Due to this the sales booked on the basis of projection are not comparable with the cost for the quarter.
6 Previous period / years figures have been regrouped / rearranged wherever necessary.
~
( .
Praful N. Satra
Place: Mumbai
Chairman and Managing Director
PRAFUL
Digitally signed by PRAFUL NANJI
SATRA
DN: c=IN, o=Personal , CID - 4634133,
2.5.4.20=8afbccb7b8f6265490b4958
NANJI
872eb4e0d844ec2aeb7d3d786dcab2
2f0f1e4ce0f, postalCode=400054,
st=Maharashtra,
serialNumber=0e19667d3120b6b391
SATRA
08f1a81da383e0300d85adc7799d75
44578798e6073d7a, cn=PRAFUL
NANJI SATRA
Date: 2017.02.10 12:09:50 +05'30'
- -- - 8& C
0
----
-=
-- ~ ---
- =--.:::
- --
..... - -- -
~---
=
-
-
..
Chartered Accountants
3rd & 4th Floor. Vaastu Darshan,
'B' Wing . Above Central Bank of India.
Azad Road , Andheri (East),
Mumbai - 400 069.
Tel. : 022 - 6191 9293 {222 1 200
Fax : 022 - 2684 2221/6191 9256
E-mail : admin@gmj.co.in
INDEPENDENT AUDITOR'S REVIEW REPORT infoQmi.co.in
Review Report to
The Board of Directors
Satra Properties (India) Limited
We have reviewed the accompanying statement of unaudited financial results of Satra Properties (India)
Limited (the 'Company') for the Quarter and nine months ended December 31, 2016 (the "Statement").
This Statement is the responsibility of the Company's Management and has been approved by the Board of
Directors. Our responsibility is to issue a report on the Statement based on our review.
We conducted our review in accordance with the Standard of Review Engagement (SRE) 2410, "Review of
Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute
of Chartered Accountants of India . This standard requires that we plan and perform the review to obtain
moderate assurance as to whether the Statement is free of material misstatement. A review is limited
primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus
provide less assurance than an audit. We have not performed an audit and accordingly, we do not express
an audit opinion.
Based on our review conducted as above, nothing has come to our attention that causes us to believe that
the accompanying statement of unaudited financial results prepared in accordance with applicable
accounting standards and other recognized accounting practices and policies has not disclosed the
information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it
contains any material misstatement.
Reg~a~03429\N
CA Haridas Bhat
Partner
Membership No. : 039070
Mumbai
February 10, 2017
NANJI
b4e0d844ec2aeb7d3d786dcab22f0f1e4c
e0f, postalCode=400054, st=Maharashtra,
serialNumber=0e19667d3120b6b39108f1
a81da383e0300d85adc7799d7544578798
City Office : 38-B, Onlooker Building. 5th Fir. Sir P M. Road , Fort, Mumbal - 400 001 . Tel. : 2267 2778 / 6635 2778 Fax : 2267 2778