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Rodium Realty Ltd. Company History and Annual Growth Details

The company was incorporated as public limited company at Bangalore on 17.05.1993. The certificate of commencement of business was obtained on 24.05.1993. The approval from Ministry of Industry was received in September 1993 and the civil construction commenced thereafter. The machinery was received only in August 1994 and the commercial production
commenced in January 1995.

The company was set up to produce warp and hosiery cotton yarn with an installed capacity of 8064 spindles at a project cost of Rs.533.85 lacs under phase I which was funded by way of term loans from State Bank of Hyderabad, Canara Bank and promoters equity.

Under the Single Window Agency, the department of Industries and Commerce, Government of Karnataka allotted 10 acres of land for the project in Raichur Growth Centre on 06.05.1993. It also cleared power supply of 650 KVA from KEB. The water is being supplied to the extent of 1000 gallons per day from KIADB sources.

During the implementation of phase I of the project there was cost over-run and the project cost was revised to Rs.674.12 lacs. The cost overrun to the extent of Rs.140.27 lacs was on account of the following reasons:

(i) The area of factory building was increased to 58,000 sft. from the projected 48,500 sft to accommodate the proposed expansion. The cost over run due this was Rs.31.92 lacs.

(ii) The revised configuration of the machinery and addition of other equipments entailed a cost overrun to the extent of Rs.44.31 lacs.

(iii) The increase in preliminary and preoperative expenses were to the tune of Rs.22.02 lacs.

(iv) The increase in working capital margins were to the extent of Rs.40.47 lacs.

(v) The increase in miscellaneous fixed assets is to the extent of Rs.1.55 lacs.

The above cost over-run has been financed by both State Bank of Hyderabad and Canara Bank to the extent of Rs.55.00 lacs and the balance has been funded by the promoters. The commercial production commenced in January 1995 with captive power generation.

To take advantage of the incentives extended to exports by the Government, the company has proposed to increase the capacity from 8064 spindles to 12096 spindles in the second phase.Â

Â 2009Â

Â -The Company appointed Mr. Shyam Lilani as Chairman of the Company.Â

Â 2010Â

Â -Company has changed its name from Vishal Cotspin Ltd. to Rodium Realty Ltd.

-Registered Office of the Company has been shifted From 104, 1st Floor, 2nd Main, 4th Cross, Gavipuram Extn., Basavanagudi, Bangalore - 560019 To Plot No. 636, 501, X' cube, Off New Link Road, Andheri (West), Mumbai - 400053.

-The Company appointed Mr. Deepak Chheda, Managing Director as a Chairman of the Company.Â

Â 2012

Â -The Company appointed Mr. Deepak Chheda as Managing Director of the Company.Â

Â 2014Â

-Rodium Realty Ltd has Recommended payment of dividend on 9% Preference Shares
-Rodium Realty Ltd has Recommended dividend at the rate of 5% (Rs. 0.50 per equity share)Â

Â 2016

Â -Rodium Realty Ltd has informed that it has received a Full Occupation Certificate for its residential project X'Czar in Juhu Scheme, Mumbai.Â

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