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D S Kulkarni Developers Ltd

BSE Code : 523890 | NSE Symbol : DSKULKARNI | ISIN:INE891A01014| SECTOR : Realty |

NSE BSE
 
SMC up arrow

13.55

0.00 0.00 Volume 280564

20-Mar-2018 EOD

Prev. Close

13.55

Open Price

13.55

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

13.55(1000)

 

Today’s High/Low 13.80 - 13.55

52 wk High/Low 13.80 - 0.00

Key Stats

MARKET CAP (RS CR) 35.09
P/E 0
BOOK VALUE (RS) 104.0183333
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0
PRICE/BOOK 0.13074618260587
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%) 100
4

News & Announcements

15-Apr-2021

D S Kulkarni Developers Ltd - DS Kulkarni Developers Limited - Corporate Insolvency Resolution Process

13-Apr-2021

D S Kulkarni Developers Ltd - DS Kulkarni Developers Limited - Corporate Insolvency Resolution Process

08-Apr-2021

D S Kulkarni Developers Ltd - DS Kulkarni Developers Limited - Defaults on Payment of Interest/Principal

31-Mar-2021

D S Kulkarni Developers Ltd - Intimation of Final List of Prospective Resolution Applicants - 30th March 2021 of M/s. D.S. Kulkarni Developers Limited

02-Jan-2021

DS Kulkarni Developers adjourns AGM

17-Dec-2020

DS Kulkarni Developers to hold AGM

11-Dec-2019

CoC decide to invite Expression of Interest for resolution of D S Kulkarni Developers

09-Nov-2017

DS Kulkarni Developers to announce Quarterly Result

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

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Share Holding

Category No. of shares Percentage
Total Foreign 4249874 16.47
Total Institutions 2400 0.01
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 1021026 3.96
Total Promoters 12290350 47.64
Total Public & others 8237358 31.92
Total 25801008 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About D S Kulkarni Developers Ltd

D.S. Kulkarni Developers Ltd is engaged in real estate development, and construction of residential and commercial tenements. The company has three segments, namely real estate development, education and contracting. The company has five subsidiary companies. Two subsidiaries are operating in the USA, one of which is a wholly owned subsidiary and other is a step-down subsidiary viz. DSK Developers Corporation and DSK Woods, LLC respectively. The other subsidiaries are DSK Global Education & Research Pvt Ltd DSK SEZ Projects (Pune) Pvt Ltd. and DSK Southern Projects Pvt Ltd. D.S. Kulkarni Developers Ltd was incorporated on September 20, 1991 as a public limited company. The company promoted by D.S. Kulkarni and his associates. In April 1993, the company made a Public Issue and offered to public 36,00,000 equity shares of Rs 10 each for cash at par aggregating to Rs 3.60 crore. In the year 1992, the company completed some projects, namely Suryaloknagari Residential & Commercial, Pune, Gurudatta Sahawas Residential & Commercial, Pune and Dnyaneshwar Nagari Residential, Pune. Also, they completed Hariyali Apartments Residential, Pune in the year 1993, Vasundhara Residential, Pune in the year 1994 and Durganagari Residential Plots, Pune in the year 1995. In the year 2000, the company completed the projects namely DSK Nikhil Residential, Pune, DSK Nishigandh Residential, Pune, DSK Vasant-Vaibhav Residential, Pune and DSK Sanjivani Residential, Pune. Also, they completed Akashganga Residential, Pune in the year 2003 and DSK Vishwa Ph-III Residential & Commercial, Pune in the year 2004. In the year 2005, the company completed Senorita Row Houses, Pune, Shrushti Bungalow Plots, Pune and Indradhanu Bungalow Plots, Pune. During the year 2006-07, the company has incorporated a subsidiary company named DSK Developers Corporation in the State of Delaware in United States of America. DSKDC in turn, incorporated a subsidiary company of its own named DSK Woods LLC in the state of New Jersy. During the year 2007-08, Oyster Promoters & Developers Pvt Ltd was amalgamated with the company. Also, the company entered into a 50:50 joint venture with ICICI Prudential Asset Management Company Ltd, ICICI Prudential PMS Real Estate Portfolio (ICICI Pro PMS) and formed a joint venture company with the name 'DSK Southern Projects Pvt Ltd'. During the year, the company entered into a joint venture agreement with GTC Cyprus, a Kardan Group Company as a co-developer for the development of the aforesaid SEZ at Fursungi Pune. But the said joint venture agreement was annulled and terminated with effect from June 10, 2009. During the year 2008-09, the company received final approval from the Special Economic Zones Board of Approvals (SEZ BOA) to develop a Multi Service Special Economic Zone of 250 acres of Fursungi, Pune, Maharashtra. The company acquired 51% shares of DSK Global Education & Research Pvt Ltd, thereby making it a subsidiary of the company. Also, they acquired 100% shares of DSK SEZ Projects (Pune) Pvt Ltd, thereby making it a wholly owned subsidiary of the company. DSK SEZ is incorporated in India as a SPV company for development of a Special Economic Zone at Pune. During the year 2009-10, the company entered into redemption and share sale agreement for providing an exit route to ICICI Prudential Asset Management Company Ltd, ICICI Prudential PMS Real Estate Portfolio (ICICI Pru PMS) from joint venture company named, DSK Southern Projects Pvt Ltd. This project will now be executed in association with NuMart Developers Pvt Ltd, a Sushil Mantri Group company. Thus, DSK Southern Projects Pvt Ltd became a subsidiary company by virtue of the company controlling the composition of its board of directors. As of March 31, 2010, the company's projects under development included DSK Garden Enclave, DSK Vishwa-IV-Saptasur, DSK Sundarban Phase-II, DSK Madhuban, DSK Vishwa-Villa, DSK Vishwa-Sayantara Phase II, DSK Vishwa-Designer Bungalows, DSK Vishwa -IT Park, DSK Meghamalhar, Integrated Township and DSK Hariyali. The company has two properties in Bangalore, one of which was to be developed under a joint venture company DSK Southern Projects Pvt Ltd. These two properties have been given to NuMart Developers Pvt Ltd, a Mantri Group Company for the joint development. Both these projects will be launched in the nearest future. The company proposes to develop an 'Integrated Township' at a large stretch of land acquired by them near Manjari, Pune. The company decides to disinvest whole of the shareholding that is (46%) held in DSK Tricone Infrastructure & Construction Ltd (DSK Tricone). Consequently, the joint venture will be terminated in due course.

D S Kulkarni Developers Ltd Chairman Speech

Dear Friends,

The stable political conditions in the country have fuelled the factors that will lead to growth and business outlook is turning bright and hopeful. The dark clouds of doubt are melting away in the background and being replaced by the sunshine of hope. All this bodes well for the future of our economy in general and your Company in particular.

Decreasing inflation has added joy to investors and people alike. The Reserve Bank of India has also been sending out positive signals by softening interest rates to ensure that the flow of funds keeps rolling and economic growthis fuelled.

All these positive indices and signs have ensured that there is assured growth in real estate sector that many had perceived as having plateaued. There is a silver lining developing all over and it would be safe to exclaim that happy days are visible again.

One spectacular indication has been our retail Non-Convertible Debenture issue pan India lastyearand its glorious success. Itwasa bold step that we had taken and once again, D. S. Kulkarni Developers Limited proved that it has tremendous goodwill and foresight.

The mega success of our back to back housing exhibitions in Pune "Aadhi Ghar Paise Nantar" and "Aadhi Ghar Paise Nantar Returns", followed by "Aadhi Ghar Paise Nantar" in Mumbai amply proved what I have said earlier.

The golden lining on the horizon is the fact that construction is in full swing at our biggest and most prestigious project DSK Dream City. Let me state clearly that we are coming doser to realising the dream that we have all dreamt together.

Patience, my shareholders business associates and members of the DSK Group and family, is the key to success and we have been eagerly waiting to taste the succulently delicious fruits of our hard work. We are now certain that all of us, together shall cherish those moments of sweat and toil that have brought us this far and will take us to newer horizons in the days to come.

DS Kulkarni

Chairman & Managing Director.

D S Kulkarni Developers Limited.

   

D S Kulkarni Developers Ltd Company History

D.S. Kulkarni Developers Ltd is engaged in real estate development, and construction of residential and commercial tenements. The company has three segments, namely real estate development, education and contracting. The company has five subsidiary companies. Two subsidiaries are operating in the USA, one of which is a wholly owned subsidiary and other is a step-down subsidiary viz. DSK Developers Corporation and DSK Woods, LLC respectively. The other subsidiaries are DSK Global Education & Research Pvt Ltd DSK SEZ Projects (Pune) Pvt Ltd. and DSK Southern Projects Pvt Ltd. D.S. Kulkarni Developers Ltd was incorporated on September 20, 1991 as a public limited company. The company promoted by D.S. Kulkarni and his associates. In April 1993, the company made a Public Issue and offered to public 36,00,000 equity shares of Rs 10 each for cash at par aggregating to Rs 3.60 crore. In the year 1992, the company completed some projects, namely Suryaloknagari Residential & Commercial, Pune, Gurudatta Sahawas Residential & Commercial, Pune and Dnyaneshwar Nagari Residential, Pune. Also, they completed Hariyali Apartments Residential, Pune in the year 1993, Vasundhara Residential, Pune in the year 1994 and Durganagari Residential Plots, Pune in the year 1995. In the year 2000, the company completed the projects namely DSK Nikhil Residential, Pune, DSK Nishigandh Residential, Pune, DSK Vasant-Vaibhav Residential, Pune and DSK Sanjivani Residential, Pune. Also, they completed Akashganga Residential, Pune in the year 2003 and DSK Vishwa Ph-III Residential & Commercial, Pune in the year 2004. In the year 2005, the company completed Senorita Row Houses, Pune, Shrushti Bungalow Plots, Pune and Indradhanu Bungalow Plots, Pune. During the year 2006-07, the company has incorporated a subsidiary company named DSK Developers Corporation in the State of Delaware in United States of America. DSKDC in turn, incorporated a subsidiary company of its own named DSK Woods LLC in the state of New Jersy. During the year 2007-08, Oyster Promoters & Developers Pvt Ltd was amalgamated with the company. Also, the company entered into a 50:50 joint venture with ICICI Prudential Asset Management Company Ltd, ICICI Prudential PMS Real Estate Portfolio (ICICI Pro PMS) and formed a joint venture company with the name 'DSK Southern Projects Pvt Ltd'. During the year, the company entered into a joint venture agreement with GTC Cyprus, a Kardan Group Company as a co-developer for the development of the aforesaid SEZ at Fursungi Pune. But the said joint venture agreement was annulled and terminated with effect from June 10, 2009. During the year 2008-09, the company received final approval from the Special Economic Zones Board of Approvals (SEZ BOA) to develop a Multi Service Special Economic Zone of 250 acres of Fursungi, Pune, Maharashtra. The company acquired 51% shares of DSK Global Education & Research Pvt Ltd, thereby making it a subsidiary of the company. Also, they acquired 100% shares of DSK SEZ Projects (Pune) Pvt Ltd, thereby making it a wholly owned subsidiary of the company. DSK SEZ is incorporated in India as a SPV company for development of a Special Economic Zone at Pune. During the year 2009-10, the company entered into redemption and share sale agreement for providing an exit route to ICICI Prudential Asset Management Company Ltd, ICICI Prudential PMS Real Estate Portfolio (ICICI Pru PMS) from joint venture company named, DSK Southern Projects Pvt Ltd. This project will now be executed in association with NuMart Developers Pvt Ltd, a Sushil Mantri Group company. Thus, DSK Southern Projects Pvt Ltd became a subsidiary company by virtue of the company controlling the composition of its board of directors. As of March 31, 2010, the company's projects under development included DSK Garden Enclave, DSK Vishwa-IV-Saptasur, DSK Sundarban Phase-II, DSK Madhuban, DSK Vishwa-Villa, DSK Vishwa-Sayantara Phase II, DSK Vishwa-Designer Bungalows, DSK Vishwa -IT Park, DSK Meghamalhar, Integrated Township and DSK Hariyali. The company has two properties in Bangalore, one of which was to be developed under a joint venture company DSK Southern Projects Pvt Ltd. These two properties have been given to NuMart Developers Pvt Ltd, a Mantri Group Company for the joint development. Both these projects will be launched in the nearest future. The company proposes to develop an 'Integrated Township' at a large stretch of land acquired by them near Manjari, Pune. The company decides to disinvest whole of the shareholding that is (46%) held in DSK Tricone Infrastructure & Construction Ltd (DSK Tricone). Consequently, the joint venture will be terminated in due course.

D S Kulkarni Developers Ltd Directors Reports

Dear Member,

Your Directors have pleasure in presenting their 24th Annual Report of the Company for the year ended 31st March, 2015.

FINANCIALS:

Rs. Lacs

Particulars

Standalone

Consolidated

2014-2015 2013-2014 2014-2015 2013-2014
Operating Income & Increase in stocks 35,603.25 23,255.07 35,782.40 23,492.01
Profit before tax 3,181.25 2,565.40 2,817.78 2,833.13
Less : Provision for tax/deferred tax 1,454.68 1,260.82 1,454.54 1,260.69
Profit after tax 1,726.57 1,304.58 1,363.24 1,572.44
Add : Balance of Profit Brought forward 15,778.70 14,743.95 13,602.53 12,303.27
Profit available for Appropriation 17,505.27 16,048.53 14,965.77 13,875.71
Prior Year Adjustments 24.26 (32.04) 24.26 (28.69)
Proposed Dividend 322.51 258.01 322.51 258.01
Tax on Dividend 65.66 43.85 65.66 43.85
Debenture Redemption Reserve 669.29 0.00 669.29 0.00
Balance of Profit carried to Balance Sheet 16,547.44 15,778.70 14,007.94 13,602.53

As per Section 71 of the Companies Act, 2013, Rule 18(7)(b)(ii) of the Companies (Share Capital and Debenture) Rules, 2014 and Prospectus dated 28th July, 2014 for issue of Secured Redeemable Non Convertible Debentures, the Company has created Debenture Redemption Reserve of Rs.6.69 Crores (on proportionate basis) from the profits. The balance profits, after other appropriations, have been retained in the Profit and Loss Account.

STATE OF THE COMPANY’S AFFAIRS:

The total income for the year ended 31st March, 2015 was Rs.353.48 Crores up by 53% from the earlier year. The profit stood at Rs.18.50 Crores increased by 42% .

The year under review was an eventful year with the launch of six projects in and around Pune. The Company, during the year, launched its prestigious, mega township project "DSK Dream City". It is an integrated township spread across more than 252 acres of land situated at Pune-Solapur Road. All the launched projects received a good response for booking of tenements.

DIVIDEND:

Your Directors have pleasure in recommending dividend of 12.5 % i.e. Rs.1.25/- per equity share on the paid up capital of the Company. The dividend payout will be Rs.3,22,51,260/- and outgo on account of dividend distribution tax will be Rs.65,65,598/-.

PUBLIC ISSUE OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES:

Your Directors have pleasure to inform you that during the year under Report, the Company had come up with a Public Issue of Secured Redeemable Non Convertible Debentures of face value of Rs. 5,000 each for Option I, II and IV, and Rs. 25,000 each for Option III, ("NCDS"), of the total value of Rs.10,000 lakhs (herein referred to as the "base issue size") with an option to retain over-subscription upto another Rs.10,000 lakhs. The Company received a good response and the issue was subscribed 1.118 times of the base issue size. The said NCDs are secured and carry more than 100% asset cover. The said NCDs are listed on the BSE Limited under four ISINs as per the issue terms of the NCDs.

The Company is timely paying interest to all its debenture holders as per their respective Options. The Company has appointed GDA Trusteeship Ltd., Pune as its Debenture Trustees to monitor timely payment of interest and all compliances. The Company submits a quarterly/ half yearly report to the Debenture Trustees.

The Company has used funds for the purpose for which they were raised.

SUBSIDIARIES AND CONSOLIDATION:

The Company has in all four subsidiaries. Two subsidiaries are operating in the USA; one of which is a wholly owned subsidiary and the other is a step-down (also wholly-owned) subsidiary, namely DSK Developers Corporation and DSK Woods, LLC respectively. Both these subsidiaries are in the business of construction and development. The construction activity at the project site at Plainsboro, New Jersey is at completion stage. Out of the 11 single house bungalows, 8 bungalows have already been sold and construction of the rest 3 is completed. The WOS is having another piece of land in New Jersey whereat another construction project has been started with 8 single houses.

Another subsidiary company is DSK Southern Projects Pvt. Ltd. ("DSK Southern") which, in association with M/s Mantri Dwellings Pvt. Ltd., a Sushil Mantri Group company, is developing a premium, high-end residential project of 42 storied apartments at Bangalore named "Mantri DSK Pinnacle". Out of the total 133 units, 76 units have been sold so far.

The fourth subsidiary is DSK Township Projects Pvt. Ltd. DSK Township is retained as a SPV (Special Purpose Vehicle) for future use. DSK Township is yet to commence business.

This Annual Report contains the stand alone financial statements and reports of D.S. Kulkarni Developers Ltd. and the consolidated financial statements.

The statement containing the salient features of the financial statements of the Company’s subsidiaries, under the first proviso to sub-section (3) of Section 129, is given in Form AOC-1 attached to this Report as Annexure 1.

DSK DREAM CITY TOWNSHIP PROJECT

During the year under review, the Company launched for sale tenements of the Phase 1 named ‘Waterfall Residence’ of it’s much awaited mega township project "DSK Dream City". The township was launched with a mega event and it received a very good response. The total land of DSK Dream City Project which earlier comprised of 186 Acres was eventually increased to over 252 Acres. The Company has obtained revised location clearance and PLU Order for the concerned revision in the area of land from Government of Maharashtra and other regulatory bodies. The construction and development work is progressing as per the plan.

PROJECTS UNDER DEVELOPMENT:

Following sites are at different stages of planning, development and/or construction as on the date of this Report:

SR. NO. NAME OF SITE TOTAL SALEABLE AREA SQ.FT LOCATION
1 DSK Dream City, Ph I, Waterfall 15,14,712 Near National Grapes Centre,
Residency Solapur Rd, Pune
2 DSK Vedant 1,75,161 Hadpsar, Pune
SR. NO. NAME OF SITE TOTAL SALEABLE AREA SQ.FT LOCATION
3 DSK Anandghan 6,54,830 DSK Vishwa, Sinhgad Road, Pune
4 DSK Sayantara 6,98,937 DSK Vishwa, Sinhgad Road, Pune
5 DSK Vishwa Villa 52,534 DSK Vishwa, Sinhgad Road, Pune
6 DSK Gold Leaf 41,358 Baner, Pune
7 DSK Kasturi B 24,894 Bawadhan, Pune
8 DSK Garden Enclave 52,870 Off NIBM Road, Kondhawa, Pune
9 DSK Nandanvan 99,330 Pirangut, Pune
10 DSK Mayurban 1,26,862 Pirangut, Pune
11 DSK Madhukosh 1,04,317 Andheri (E), Mumbai

DIRECTORS:

The Board of Directors of the Company consists of total 7 directors out of which five directors are Independent and Non-executive Directors and the rest two are Executive Directors. Out of the Independent Directors, one is a Woman Director. By virtue of Section 149 of the Companies Act, 2013 and rules made there under, the Independent Directors are not liable to retirement by rotation. Therefore Mr. D. S. Kulkarni who was earlier appointed by the members as a non-retiring Director, now retires by rotation at this Annual General Meeting and is eligible for re-appointment.

Mr. Shirish Kulkarni, Executive Director of the Company was re-appointed by the Board in the same capacity for a term of three years w.e.f. 27th July, 2015. Member’s approval is being sought for his re-appointment.

Dr. Madhura Chatrapathy was appointed as an Additional Director on 18th March, 2015, pursuant to Section 149(1) of the Companies Act, 2013. She seeks appointment at the ensuing Annual General Meeting for the tenure of her appointment as mentioned in the Notice of the forthcoming Annual General Meeting of the Company.

Mr. V. C. Joshi, Mr. K. K. Taparia, Dr. M. K. P Setty, Mr. R. D. Kharosekar and Dr. Madhura Chatrapathy have furnished their declarations of independency under sub-section 6 of Section 149 of the Companies Act, 2013.

Mr. V. C. Joshi, Mr. K. K. Taparia, Dr. M. K. P Setty and Mr. R. D. Kharosekar were appointed for a term of 5 years in the Annual General Meeting held on 30th September, 2014. The said Independent Directors continue to hold their office.

As regards Key Managerial Persons, during the year under report, Mr. Nitin Deshpande was appointed as the Chief Financial Officer (CFO) of the Company pursuant to Section 203 of the Companies Act, 2013. The Company already has a full time Company Secretary, Mr. Amol Purandare, who was nominated as one of the Key Managerial Personnel.

FIXED DEPOSITS:

The Company has not accepted any deposits from the public and shareholders covered under Chapter V of the Companies Act, 2013 during the year under report.

a) Deposits accepted during the year: Nil

b) Outstanding deposits as on 31st March, 2015: Rs.8,599.21 Lacs

c) Deposits remained unpaid as at the end of the year: Nil

d) Deposits remained unclaimed as at the end of the year: Rs.241.66 Lacs

e) There has been no default in repayment of deposits or payment of interest thereon during the year.

None of the fixed deposits which have matured have remained unpaid.

LISTING:

The equity shares of the Company are listed on the BSE Limited and National Stock Exchange (NSE). There are no arrears on account of payment of listing fees to the Stock Exchanges.

EXTRACT OF ANNUAL RETURN:

The details forming part of the extract of Annual Return in Form MGT 9, as required under Section 92 of the Companies Act, 2013, are included in this Report as Annexure 2 which forms an integral part of this Report.

NUMBER OF BOARD MEETING:

The Board met nine (9) times during the year under report, the details of which are given in the Report on Corporate Governance that forms a part of this Report. The intervening gap between any two meetings was within the period prescribed by the Companies Act, 2013.

PARTICULARS OF LOANS AND INVESTMENTS:

The details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the note no. 41 to the Standalone Financial Statements.

MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY

to which the financial statements relate and the date of the REPORT.

There are no material changes and commitments affecting the financial position of the Company between the end of Financial Year 2015 and the date of this report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

CONSERVATION OF ENERGY AND WATER:

(a) Since the Company operates into real estate development business, the Company does not involve heavy equipment and machinery, still lot of efforts are made to conserve energy. The methods include conservation of ground water levels, preservation and shifting of wells, use of LED lighting for the indoor spaces as also outdoors and landscape lighting, landscape watering by sewage and sullage using latest technology, use of solar and wind power for common areas in project, use of LEDs to replace the conventional lighting systems etc. The Company did not seek any transfer of technology during the year. Therefore the situation of absorption of technology does not arise.

During the year under review Company earned Foreign Exchange of Rs.279.86 Lacs (previous year Rs.230.85 Lacs). The total Foreign Exchange outgo was Rs.121.32 Lacs (previous year Rs.709.20 Lacs).

ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS:

The Company’s internal financial control systems are commensurate with its size and the nature of its operations. These have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorised use, executing transactions with proper authorisation and ensuring compliance of corporate policies. The Company has a well defined delegation of power with authority limits for approving revenue as well as expenditure. The Company uses a ERP system to record data for accounting, consolidation and management information purposes and connects to different locations for efficient exchange of information. It has continued its efforts to align all its processes and controls with best practices.

RISK MANAGEMENT

The Company has Risk Management framework to identify, evaluate business risks and opportunities. This framework seeks to create transparency, minimise adverse impact on the business objectives and enhance the Company’s competitive advantage. In the opinion of the Board, currently there is no perceivable risk which may threaten the existence of the Company.

PARTICULARS OF EMPLOYEES AS REQUIRED AS PER RULE 5 OF CHAPTER XIII, OF COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014:

The Particulars of Employees as required is attached herewith as Annexure 3 to this report.

AUDITORS:

M/s. Gokhale, Tanksale & Ghatpande, Chartered Accountants, (Registration No.103277W), who are the Statutory Auditors of the Company were appointed for a term of 3 years in the Annual General Meeting held on 30th September, 2014. Pursuant to the provisions of Section 139 it is required to ratify their appointment by members in every Annual General Meeting for the appointed term. It is proposed to ratify their appointment for examining and auditing the accounts of the Company for one year and to hold office from the conclusion of this Annual General Meeting till the conclusion of the twenty fifth Annual General Meeting of the Company to be held in the year 2016. The appointment of the Statutory Auditor was recommended by the Audit Committee at its meeting held on 29th May, 2015. M/s. Gokhale, Tanksale & Ghatpande have, under Section 139(1) and 141 of the Companies Act, 2013 and the Rules framed thereunder furnished a certificate of their eligibility and consent for re-appointment. As required under Clause 49 of the Listing Agreement, the auditors have also confirmed that they hold a valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India. Ratification of the appointment of the Auditors is sought herewith.

Comments on Auditors Report: There are no qualifications, reservations or adverse remarks or disclaimer made by auditors in the Auditor’s Report for the year under review.

SECRETARIAL AUDITOR:

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 had appointed M/s. Kanj and Associates, Practicing Company Secretaries to undertake the Secretarial Audit of the Company for the year 2014-15. The Report of the Secretarial Audit Report is annexed herewith as Annexure 4.

Further, it is necessary to appoint Secretarial Auditors for the year 2015-16. The Audit Committee as well as the Board of Directors have recommended the appointment of M/s. Kanj & Associates as Secretarial Auditor for the year 2015-16 also. The said firm of Company Secretaries has given its consent for the appointment.

Board’s response to the comments on Secretarial Audit Report:

1. Company instead of disclosure under Regulation 13(6) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 for the acquisition of 5,000 equity shares made by Mr. D. S. Kulkarni in the month of December 2014, uploaded disclosure made under regulation 13(4) to BSE. Proper disclosure was made to NSE.

Response: The Company was required to file declaration under regulation 13(6) with BSE and NSE upon receipt of disclosure under regulation 13(4) from Mr. D. S. Kulkarni of acquisition of further shares. Though the Company did file its declaration with NSE correctly, it inadvertently filed disclosure of Mr. D. S. Kulkarni under his signature rather than that of the Company, with BSE which is a technical error. It may however, be noted that the information was made available in public domain in time.

2. As per Section 12(3)(c) of the Companies Act, 2013 the Company was required to mention Corporate Identification Number (CIN) in the notices, CIN number was appropriately disclosed on the communications with Stock Exchanges, however the CIN was not mentioned in the Notice published in Marathi/English newspaper dated 18th July 2014 & in English Newspaper dated 20th October, 2014.

Response: The Company mentions CIN on the official documents. The letter heads of the Company carry CIN and the notices sent to the Board of Directors for the Board Meetings convened on 18th July, 2014 and 20th October, 2014 carry CIN. It remained to be mentioned in the newspaper notices due to oversight.

CORPORATE GOVERNANCE CERTIFICATE:

The Compliance certificate from the practicing company secretaries regarding compliance of conditions of corporate governance as stipulated in Clause 49 of the Listing Agreement is annexed with the report.

CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION AND ANALYSIS:

Pursuant to Clause 49 of the Listing Agreement, the report on Corporate Governance, together with a certificate from the Company’s Auditors confirming compliance forms an integral part of this Report and the statement of Management Discussion and Analysis is annexed to and forms part of this Annual Report.

AUDIT COMMITTEE:

Pursuant to the provisions of Section 177 of the Companies Act, 2013 and Clause 49 II (A) of the Listing Agreement, an Audit Committee comprises the following Directors:

1. Mr. V C. Joshi, Chairman

2. Dr. M. K. P. Setty, Member

3. Mr. K. K. Taparia, Member

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES REFERRED TO IN SUBSECTION (1) OF SECTION 188 IN FORM AOC 2 ALONG With The JUSTIFICATION FOR ENTERING INTO such CONTRACT OR ARRANGEMENT.

The transactions entered into with the related parties as defined under the Companies Act, 2013 and Clause 49 of the Listing Agreement during the year were in the ordinary course of business and on an arm’s length pricing basis. There were no materially significant transactions with related parties during the year which were in conflict with the interests of the Company. Suitable disclosure as required by the Accounting Standards (AS 18) has been made in the notes to the Financial Statements.

All related party transactions are placed before the Audit Committee as also the Board for approval before they are entered into or prior omnibus approval for them is obtained. Prior omnibus approvals and transactions made thereunder are reviewed by the Audit Committee and Board periodically.

The policy on ‘Related Party Transactions’ as approved by the Board is uploaded on the Company’s website under following weblink: http://www.dskdl.com/pdf/RELATED PARTY TRANSACTION POLICY.pdf

None of the Directors has any pecuniary relationship or transaction vis a vis the Company, except as mentioned in this Report.

As provided in Section 134(3)(h) of the Companies Act, 2013, read with Rule 8 of the Companies (Accounts) Rules, 2014, the particulars of contracts or arrangements with related parties referred to in Section 188(1) of the Companies Act, 2013 in Form AOC 2 are provided in the Annexure 5 to this Report.

VIGIL MECHANISM/WHISTLE BLOWER POLICY:

The Company has a vigil mechanism named Vigil Mechanism Policy to deal with instances of fraud and mismanagement, if any. The details of the said vigil mechanism policy is explained in the Corporate Governance Report and also posted on the website of the Company on http://dskdl.com/wp-content/uploads/Vigil Mechanism WhistleBlower Pplicy.pdf.

COMPANY’S POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION INCLUDING CRITERIA FOR DETERMINING QUALIFICATIONS, POSITIVE ATTRIBUTES, INDEPENDENCE OF A DIRECTOR AND OTHER MATTERS PROVIDED UNDER SECTION 178(3):

The Board of Directors in its meeting held on 31st October, 2014 approved the Nomination & Remuneration Policy for nomination and remuneration of Directors, Key Man agerial Personnel (KMP) and other Senior Managerial Personnel of the Company. The Nomination and Remuneration policy is available on http://dskdl. com/wp-content/uploads/NOMINATION AND REMUNERATION POLICY1.pdf.

THE DETAILS ABOUT THE POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON CORPORATE SOCIAL RESPONSIBILITY INITIATIVES TAKEN DURING THE YEAR:

The Board of Directors in its meeting held on 26th October, 2013 constituted a Corporate Social Responsibility Committee pursuant to provisions of Section 135 of the Companies Act, 2013. The Corporate Social Responsibility Policy is available on http://dskdl.com/wp-content/uploads/CORPORATE SOCIAL RESPONSIBILITY POLICY.pdf.

The constitution of the Corporate Social Responsibility Committee is disclosed in the Corporate Governance Report forming part of the Annual Report. The Company continues to undertake activities to promote social cause.

The report on the CSR Activities carried out during the year pursuant to Section 135 and Rules made there under is attached herewith as an Annexure 6.

A STATEMENT INDICATING THE MANNER IN WHICH FORMAL ANNUAL EVALUATION HAS BEEN MADE BY THE BOARD OF ITS OWN PERFORMANCE AND THAT OF ITS COMMITTEES AND INDIVIDUAL DIRECTORS:

The Board of Directors in its Meeting held on 18th March, 2015 approved the Performance Evaluation Policy of the Company. The said Policy is for undertaking evaluation of every Director’s performance. Section 178 of the Companies Act, 2013 has obligated on the Nomination and Remuneration Committee ("NRC") to carry out evaluation of every Director’s performance.

Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of the Listing Agreement, the performance evaluation of Independent Directors has been done by the entire Board of Directors (excluding the Director being evaluated).

A structured questionnaire was prepared after taking into consideration inputs received from the Directors, covering various aspects of the Board’s functioning such as adequacy of the composition of the Board and its Committees, Board culture, execution and performance of specific duties, obligations and governance.

A separate exercise was carried out to evaluate the performance of individual Directors including the Chairman of the Board, who were evaluated on parameters such as attendance, inputs, adherence to standards, disclosures, interpersonal relations, leadership and team work attributes, compliances, constitution, effectiveness in developing a corporate governance structure, etc. The performance evaluation of Independent Directors was carried out by the entire Board and that of the Chairman and Executive Director was carried out by the Independent Directors. The Directors expressed their satisfaction with the evaluation process.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has in place an Anti Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. Women Complaints Redressal Committee has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy. During the financial year, the Company didn’t receive any complaints of sexual harassment.

CODE OF CONDUCT:

The Board of Directors has approved a Code of Conduct which is applicable to the members of the Board and Senior Management Personnel of the Company. The Code has been posted on the Company’s website http://www.dskdl.com/investors/code of conduct.

All Board members and senior management personnel affirm compliance with the code of conduct. The Annual Report of the company contains a declaration to this effect signed by the Chairman & Managing Director.

DIRECTORS’ RESPONSIBILITY STATEMENT:

As required by Section 134(3)(c) of the Companies Act, 2013, with respect to the Directors’ Responsibility Statement, it is hereby stated that:

a) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b) the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period;

c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

d) the directors had prepared the annual accounts on a going concern basis; and

e) the directors, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

ACKNOWLEDGEMENT:

Your Directors are thankful to the Central and State Governments, Government departments, Government agencies, Municipal Corporations and Local Bodies for their guidance and co-operation. The Directors place on record their gratitude to the financial institutions and banks, housing and mortgage finance companies, customers, suppliers, contractors, architects, labourers, shareholders, deposit holders and debenture holders for the confidence shown in the Company and co-operation given to the Board in managing the affairs of the Company. Your Directors are appreciative of performance of the employees at all level in furtherance of the business of the Company.

For & on behalf of the Board of Directors of
D. S. KULKARNI DEVELOPERS LTD.
D. S. KULKARNI
Place: Pune CHAIRMAN & MANAGING DIRECTOR
Date: 29th May, 2015 DIN 00394027

Annexure 4

Form No. MR-3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED ON 31ST MARCH, 2015

[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014]

To,

The Members,

D. S. Kulkarni Developers Limited,

1187 /60 J M Road Shivajinagar,

Pune

We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by D. S. Kulkarni Developers Limited (hereinafter called "the Company"). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/ statutory compliances and expressing our opinion thereon.

Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, we hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on 31st March, 2015 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance- mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

We have examined the books, papers, minute books, forms and returns filed and other records maintained by D. S. Kulkarni Developers Limited for the financial year ended on 31st March, 2015 according to the provisions of:

(i) The Companies Act, 2013 and the rules made thereunder;

(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;

(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;

(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made there under to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings;

(v) The Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’) viz.:-

(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;

(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992;

(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (There are no events occurred during the period which attracts provisions of these guidelines hence not applicable.);

(d) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 (There are no events occurred during the period which attracts provisions of these guidelines hence not applicable.);

(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008;

(f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client;

(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (There are no events occurred during the period which attracts provisions of these guidelines hence not applicable.); and

(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 (There are no events occurred during the period which attracts provisions of these guidelines hence not applicable.); and

(vi) We further report that, having regards to the compliance system prevailing in the Company and on examination of the relevant documents and records in pursuance thereof, the Company has generally complied with the following laws applicable specifically to the Company:-

(a) Power of Attorneys Act, 1882;

(b) The Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963;

(c) Registration Act, 1908;

(d) The Maharashtra Apartment Ownership Act, 1970;

(e) Maharashtra Regional and Town Planning Act, 1966;

(f) Bombay Village Panchayat Act, 1958;

(g) Urban Land Ceiling & Regulation Act, 1976;

(h) Maharashtra Land Revenue Code, 1966.

We have also examined compliance with the applicable clauses of the following:

(i) Secretarial Standards issued by The Institute of Company Secretaries of India Secretarial Standards were not made mandatory by the Government of India during the period, hence compliance in respect of the standards is not commented upon.

(ii) The Listing Agreements entered into by the Company with BSE Limited and the National Stock Exchange of India Limited ("NSE") for the Company’s Equity Shares as well as Non-Convertible Debentures.

During the period under review the Company has generally complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above except to the extent as mentioned below:

1. Company instead of disclosure under Regulation 13(6) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 for the acquisition of 5,000 equity shares made by Mr. D. S. Kulkarni in the month of December 2014, uploaded disclosure made under regulation 13(4) to BSE. Proper disclosure was made to NSE.

2. As per Section 12(3)(c) of the Companies Act, 2013 the Company was required to mention Corporate Identification Number (CIN) in the notices, CIN number was appropriately disclosed on the communications with Stock Exchanges, however the CIN was not mentioned in the Notice published in Marathi/English newspaper dated 18th July, 2014 & in English Newspaper dated 20th October, 2014.

The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act.

Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

Majority decision is carried through while the dissenting members’ views are captured and recorded as part of the minutes.

We further report that there are adequate systems and processes in the company commensurate with the size and operations of the company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.

We further report that during the audit period:

1. During the year under report the Company had come up with a Public Issue of Secured Redeemable Non Convertible Debentures of face value of Rs.5,000 each for Option I, II and IV and Rs.25,000 each for Option III, ("NCDs"), aggregating upto '10,000 lakhs (herein referred to as the "base issue size") with an option to retain over-subscription upto Rs.10,000 lakhs aggregating upto Rs.20,000 lakhs. The Company allotted NCDs amounting to Rs.111.70 Crores.

2. The Company passed Special Resolution in AGM held on 30th September, 2014 pursuant to Section 180(1)(c) for total borrowing powers for an amount not exceeding Rs.2000 Crores and under Section 180(1)(a) for creating mortgage/ charges/ hypothecation in favour of lenders.

For KANJ & ASSOCIATES,

Company Secretaries

Mahesh A. Athavale

Partner

FCS No.: 2412

C P No.:1488

Place: Pune

Date: 29th May, 2015.

This report is to be read with our letter of even date which is annexed as Annexure A and Forms an integral part of this report.

Annexure A

To,

The Members,

D. S. Kulkarni Developers Limited

Our report of even date is to be read along with this letter.

1. Maintenance of secretarial record is the responsibility of the management of the company. Our responsibility is to express an opinion on these secretarial records based on our audit.

2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in secretarial records. We believe that the processes and practices, we followed provide a reasonable basis for our opinion.

3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the company.

4. Wherever required, we have obtained the Management representation about the compliance of laws, rules and regulations and happening of events etc.

5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of management. Our examination was limited to the verification of procedures on test basis.

6. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness with which the management has conducted the affairs of the company.

For KANJ & ASSOCIATES,

Company Secretaries

Mahesh A. Athavale

Partner

FCS No.: 2412

C P No.:1488

Place: Pune

Date: 29th May, 2015.

Annexure 5

Form No. AOC-2

(Pursuant to clause (h) of Sub-section (3) of Section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)

Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in Sub-section (1) of Section 188 of the Companies Act, 2013 including certain arms length transactions under third proviso thereto

1. Details of contracts or arrangements or transactions not at arm’s length basis: NIL

(a) Name(s) of the related party and nature of relationship

(b) Nature of contracts/arrangements/transactions

(c) Duration of the contracts/arrangements/transactions

(d) Salient terms of the contracts or arrangements or transactions including the value, if any

(e) Justification for entering into such contracts or arrangements or transactions

(f) Date(s) of approval by the Board

(g) Amount paid as advances, if any

(h) Date on which the special resolution was passed in general meeting as required under first proviso to Section 188

2. Details of material contracts or arrangement or transactions at arm’s length basis:

Particular RASA Group Telesmell DSK Motors Ltd. DSK Motors Ltd.
(a) Name(s) of the related party and nature of relationship Mrs. Ashwini Deshpande being partner in RASA Group is daughter of Mr. D. S. Kulkarni, Chairman & Managing Director and step sister of Mr. Shirish Kulkarni, Executive Director of the company. Mrs. Bhagyeshree Kulkarni being proprietor of Telesmell is the daughter-in-law of Mr. D. S. Kulkarni, Chairman & Managing Director of the Company. Mr. D. S. Kulkarni and Mr. Shirish Kulkarni are common directors. Mr. D. S. Kulkarni and Mr. Shirish Kulkarni are common directors.
(b) Nature of contracts/ arrangements/ transactions Contract for availing marketing and branding services for DSK Dream City Project. Contract for availing phone cleaning and hygiene services for all the telephones. Contract for purchasing three Toyota make motor vehicles for business use. Contract for availing spares and servicing facility for all the motor vehicles of Toyota make.
(c) Duration of the contracts/arrangements/transactions For a period up to 31/03/2015 For a period up to 28/05/2015 For a period up to 31/03/2015 For a period up to 31/03/2015
(d) Salient terms of the contracts or arrangements or transactions including the value, if any Carrying out branding activities in malls of Pune for marketing of DSK Dream City Project at the value not exceeding Rs.75 Lacs. Monthly cleaning of all the telephones of the company at the value not exceeding Rs.25,000 p.a. Purchasing cars at prices at prevailing market rates at the value not exceeding Rs.50 lacs. Availing servicing of existing cars and insurance at the card rates offered by DSK Toyota at the value not exceeding Rs.50 lacs.
(e) Date(s) of approval by the Board 29-05-2014 29-05-2014 31-10-2014 31-10-2014
(f) Amount paid as advances, if any Nil Nil Nil Nil

For & on behalf of the Board of Directors of

D.S. KULKARNI DEVELOPERS LTD.

D.S. Kulkarni

Chairman & Managing Director

DIN:00394027

Place: Pune

Date: 29th May, 2015

Annexure 6

Annual Report on CSR Activities to be included in the Board’s Report

1. A brief outline of the company 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.

CSR Policy is stated herein below:

http://www.dskdl.com/pdf/CORPORATE SOCIAL RESPONSIBILITY POLICY.pdf

2. The Composition of the CSR Committee.

Name Designation
Mr. D. S. Kulkarni Chairman
Mr. R. D. Kharosekar Member
Dr. M. K. P Setty Member

3. Average net profit of the company for last three financial years: Rs.2933.99 Lacs

4. Prescribed CSR Expenditure (two per cent of the amount as in item 3 above): Rs.58.68 Lacs

5. Details of CSR spent during the financial year:

(a) Total amount spent for the financial year: Rs.58.75 Lacs

(b) Amount unspend, if any: NIL

(c) Manner in which the amount spent during the financial year is detailed below:

1 2 3 4 5 6 7 8
Sr. No. CSR project or activity identified Sector in which the project is covered Projects or Progammes (1) Local area or other (2) Specify the State and district where projects or programs was undertaken Amount outlay (budget) project or programs wise (Rs. In lacs) Amount spent on the projects or programs Sub-heads: (1) Direct expenditure on projects or programs. (2) Overheads: (Rs. In lacs) Cumulative expenditure upto to the reporting period (Rs. In lacs) Amount spend: Direct or through implementing agency (Rs. In lacs)
1 Organising seminars, lectures for students, consumers etc. Promoting education, including special education Pune, Maharashtra 1.00 1.00 1.00 1.00
2 Organising trainings, seminars, lectures through their academy of Fire safety Promoting education, including special education Mumbai, Maharashtra 24.00 24.00 24.00 24.00
3 Singing programme For upcoming young singers Restoration of works of art Pune, Maharashtra 8.80 8.80 8.80 8.80
4 Tribal people upliftment Promoting health care including preventive health care. Ahmednagar, Maharashtra 0.50 0.50 0.50 0.50
5 Upliftment of blind people by providing vocational skills to earn livelihood Promoting employment enhancing vocation skills especially among children, women, elderly, and the differently able Pune, Maharashtra 0.50 0.50 0.50 0.50
6 Tribal people upliftment Implementing measures for reducing inequalities faced by socially and economically backward Solapur, Maharashtra 0.50 0.50 0.50 0.50
7 26th Pune Festival 2014 Inaguration Ceremony on 5th September, 2014 Protection of national heritage, art and culture Pune, Maharashtra 0.50 0.50 0.50 0.50
8 Golden Jubilee Year of Purushottam Karandak competition Protection of national heritage, art and culture Pune, Maharashtra 0.25 0.25 0.25 0.25
9 Organising seminars, lectures for students (Yuva Sammelan) Promoting education including special education. Pune, Maharashtra 0.05 0.05 0.05 0.05
10 To arrange camps, sports development in India for upcoming players Training to promote nationally recognised sports. Pune, Maharashtra 10.00 10.00 10.00 10.00
11 To motivate work relating to energy conservation and renewable energy for those individuals, corporate, NGO’s who make enormous contribution in conserving energy Ensuring environmental sustainability Pune, Maharashtra 0.85 0.85 0.85 0.85
12 Collecting nirmalya after Ganesh emersion and other related events and processing the same to maintain enviromental sustainability Ensuring environmental sustainability Pune, Maharashtra 0.52 0.52 0.52 0.52
13 To control global warming, to maintain ecological balance Ensuring ecological balance Pune, Maharashtra 0.07 0.07 0.07 0.07
14 SSC Passed Students Felicitation to encourage students for achieveing success in exams and motivate for future educational career Promoting education including special education. Pune, Maharashtra 0.21 0.21 0.21 0.21
15 Adhyaksha Jyeshtha Nagrik Sanstha, Sindkheda Setting up old age homes, day care centres and such other facilities for senior citizens. Dhule, Maharashtra 2.00 2.00 2.00 2.00
16 D S Kulkarni Foundation All charitable purposes Pune, Maharashtra 9.00 9.00 9.00 9.00
TOTAL 58.75 58.75 58.75 58.75

* Give details of implementing agency:

1. Lokmanya Tilak Vichar Manch

2. Fire Safe India Foundation

3. DSK Foundation

4. Mahamanav Baba Amte Seva Sanstha

5. Niwant Andh Mukta Vikasalaya

6. Bhatke Vimukta Vikas Pratisthan

7. Pune Festival

8. Maharashtra Kalopasak, Pune

9. Akhil Bhartiya Vidyarthi Parishad

10. Olympic Gold Quest

11. DSK Energy Award

12. Nirmalya Collection

13. Tree Plantation

14. SSC Passed Students Felicitation

15. Adhyaksha Jyeshtha Nagrik Sanstha.

16. D S Kulkarni Foundation

6. In case the company has failed to spend the two per cent of the average net profit of the last three financial years or any part thereof, the company shall provide the reasons for not spending the amount in its Board report:

The Company has spent the entire 2% of average net profit of the last three financial years towards CSR expenses for the Financial Year 2014-15.

7. It is hereby certified that the implementation and monitoring of the CSR activities carried out by the Company are in accordance with the CSR Policy as approved by the Board of Directors of the Company.

D.S. Kulkarni R. D. Kharosekar
Chairman & Managing Director and Chairman CSR Committee (Member CSR Committee)
DIN 03075915
DIN 00394027

   

D S Kulkarni Developers Ltd Company Background

D S KulkarniD S Kulkarni
Incorporation Year1991
Registered Office1187/60 DSK HOUSE,J M Road Shivajinagar
Pune,Maharashtra-411005
Telephone91-20-66047100,Managing Director
Fax91-20-25535772
Company Secretary
AuditorGokhale, Tanksale & Ghatpande
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarLink Intime India Pvt Ltd
C-13 Pannalal Silk ,Mills Cmpd LBS Marg,Bhandup West ,Mumbai - 400 078

D S Kulkarni Developers Ltd Company Management

Director NameDirector DesignationYear
D S Kulkarni Chairman & Managing Director 2016
V C Joshi Director 2016
M K P Setty Director 2016
R D Kharosekar Director 2016
Madhura Chatrapathy Director 2016
Shirish Kulkarni Executive Director 2016
Sahindra Jagannath Bhawale Addtnl Independent Director 2016
Shanmukha Someswara Rao Durvasula Addtnl Independent Director 2016

D S Kulkarni Developers Ltd Listing Information

D S Kulkarni Developers Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sales of Tenements NA 000184.98
Income From Subsidiaries NA 0007.52
Commission NA 0005.81
Contract Receipts NA 0002.13
Rent NA 0001.5
Sale of land & Development RigNA 0000.98
Other Operating Revenue NA 0000.15
Sale of Services NA 0000

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