Hamilton, Bangalore

Residential Project
Investment Memorandum

NAV – 20th December 2022

Strictly private and confidential 1

The Opportunity
to earn fixed return with an established developer in a near completion project in Bangalore

• Opportunity to earn ~ 14.0% IRR with quarterly coupon payments

• Partner with a Pan India developer with Global Parentage

• Fully approved Project nearing completion

• Senior Secured Debentures with first and exclusive charge over project land, project cash
flows and backed by corporate guarantee of flagship entity

• Cash Flow Cover of 2.7x on Investment amount, with tenor of approx. 18 months

A short term opportunity to lock superior risk-adjusted returns under a secured structure with a pan
India developer

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About the Developer

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 Pacifica Group
one of an established developers in India with a Global presence employing more than 3,000 people

18 16 15
Years of strong presence in Indian Completed projects spanning over Ongoing projects spanning ~11.4
Real Estate market ~7.3 msf of saleable area msf of saleable area

200 <1 D/E 6 States

Employee strength of Indian Low Leverage The developer has pan India
Operations presence with multiple projects
under development in 6 states

Relationships with leading financial institutions. Established track record of providing exits

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 Pacifica has delivered more than 7 msf so far
and has another 11.4 msf under development

 Established in 1978 and headquartered in USA, Pacifica is an Ongoing Projects

intercontinental pure-play real estate group with projects
spanning across residential, senior living, townships, retail, office Area under development Number of Units
and hospitality 11.4 msf 8,000+
 Pacifica ventured into Indian real estate in 2004, and has its
presence in 6 states
 The Group in India has undertaken developments across multiple
asset class – Residential, Commercial and Hospitality
Projects Total turnover
15 Rs 3,700 Cr +

Completed Projects
Area built Number of Units
7.3+ msf 4,200+
(~94% sold)

Projects Turnover
16 Rs 2,500 Cr+

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Project Details

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Project – Key Highlights

~ 115,000 sf
project
Located in prime
Expected top location in
line of Rs. 116 Bangalore near
Crs Kormangala

Project launch
B + G + 13
expected by
Structure
Q1 CY23

Sample Near
Apartment Completion
Ready Project

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 Project Location

Bangalore City Overview:

• Bangalore, also called as the
To Airport
To Tumkur Silicon Valley of India, is the
third largest city by population
• Hub to IT firms and the home
to most startups in India,
Bangalore is one of fastest
To Hoskote growing cities in India
• Fourth largest city by income,
Bangalore is also home to
industries such as aerospace
and aircraft manufacturing
Bangalore CBD • Bangalore is also known for its
prestigious educational
institutions

Key Distances:
To Mysore 1. HSR Layout – 2.5 km
2. Koramangala – 3 km
3. MG Road – 7 km
4. Railway Stn – 12 km
To Electronic City 5. Airport – 45 km

Project Site

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Project Micro Market

Project Micro-market & Status:

 Project is located on the Outer
Ring Road and nested between
Koramangala and HSR Layout,
two large commercial and
residential hubs of Bangalore
 Project is located in a well-
Koramangala
connected area that has
witnessed unprecedented
growth and property price
appreciation in last few years
 The location has seen
BTM Layout widespread development of
corporate office, organized retail
HSR Layout facilities, malls with world class
brands, reputed educational
institutions, luxury hotels, best in
Hosur Road class hospitals and robust public
Bommanahalli cum social infrastructure
 Project provides easy access to IT
corridors of Electronic City and
Whitefield and other commercial
and industrial hubs of Bangalore

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Current Project Status

 The Project is a 13 storey structure with 39

apartments

 The Projects consists of 3 & 4 BHK apartments with

avg. unit size of ~3,000 sf

 Project overlooks the Karnataka Reserve Police

Headquarters with sports stadiums, horse training
ground and large swathe of green cover exceeding
hundred of acres

 The Project provides amenities such as gymnasium,

swimming pool, indoor games, etc.

 Structure of the building is complete and finishing

works are underway and should get completed in next
3 months

 Completion certificate shall be applied for shortly

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 Projected Cashflows and Investment Cover
2.7x cover on total investment amount

Future Project Cashflows Rs Cr Cover Calculation Rs Cr

Cash Inflows Free Cashflow from project 110
Sales Collection 116
Total Loan Amount 41
Total Inflow 116
Security Cover 2.73x
Cash Outflows
Construction Cost 3
Sales and Marketing Cost 3
Total Outflows 6
Net Project Cashflows 110

Opportunity to earn superior risk adjusted return (14%) by partnering with an established developer for investment in
residential project in Bangalore located in prime residential hub of the city coupled with cover of 2.7 times

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Key Terms

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 Key Terms of the Investment
Issuer – Pelagsus Infrastructures Private Limited
 Rs 40.5 Cr
Total Investment Amount
o 10% to be invested by Motilal Oswal Group which shall be held till maturity
• Working capital for the project, repayment of Existing Debt and reimbursement of cost
Utilization
incurred for the Project
Instrument Non Convertible Debentures (“NCD”)
Coupon 15.25% p.a (compounded monthly and payable quarterly)
Minimum Investment Amount Rs. 1,02,37,227
Tenor  June-2024
 Interest to be paid quarterly [to be paid monthly in case of surplus project cash flows]
Interest Payment Date
 Interest payment to start from 31st December 2022

30-Sep-23 25%
Principal Repayment and 31-Dec-23 25%
Redemption Premium Schedule 31-Mar-24 25%
30-Jun-24 25%

 First charge on the Project Land and Saleable Area of the Project
 First charge on receivables and future cash flows of the Project
 Corporate Guarantee of Pacifica Developers Private Limited
Security
 NDU of Issuer and Pacifica Developers Private Limited
 PDCs and Demand Promissory Note
 Right to sweep cashflows of upto Rs. 6 Cr from an ongoing project

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 Indicative Cash Flow Projections
Issuer – Pelagsus Infrastructures Private Limited
Amount in Rs. Amount in Rs. Lakhs
NCD Value 1,00,00,000
Period Date Capital Interest Cashflow
Premium 2,27,000
1 20-12-2022 (102.27) -102.27
NAV as on 20.12.2022 1,02,27,000
2 31-12-2022 - 0.50 0.50
Tax Collection at Source* (0.100%) 10,227
3 31-03-2023 - 3.81 3.81
Cheque from Client 1,02,37,227
4 30-06-2023 3.85 3.85
Total Repayment** 1,17,86,044 5 30-09-2023 25.00 3.89 28.89
Coupon (monthly compounding) 15.25% p.a. 6 31-12-2023 25.00 2.92 27.92
Investor IRR** 14.0% 7 31-03-2024 25.00 1.93 26.93
NCD Issue Date 09-09-2022 8 30-06-2024 25.00 0.96 25.96
Interest Paid till 19-12-2022
Maturity Date 30-06-2024
Average Maturity in Years** 1.08

^ Interest payout is subject to TDS

* Tax collected at source will be deposited with income tax
department at Investor’s PAN
** As per repayment schedule. In case of prepayment from
project / Security cash flows, these projections shall change
accordingly and Investor IRR and Average Maturity can vary

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 Disclaimer

This Information Memorandum (“document”) has been prepared upon documentation and information obtained from public sources and furnished by Pelagsus
Infrastructures Private Limited (hereinafter, “Company”) and shall include all its subsidiaries, affiliates, associate companies and any other related party.

By receiving this document, the recipient acknowledges that (i) the recipient will not copy, reproduce or distribute this document, whether in full or in part, at any
time to third parties without the prior written consent, (ii) the recipient will keep confidential any information included herein which is not already in the public
domain, (iii) the recipient will use this document for the sole purpose of evaluating its interest in the Company and the project, (iv) in the event at any time upon
request, this document, together with all other material relating to the Company / Projects which the recipient may have been received, will be immediately
returned or destroyed with written confirmation of such destruction.

While the information, financial analysis and projections contained in this document are provisional and based on sources believed to be reliable, and have not
independently verified the contents of this document. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be
placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this document for any loss howsoever arising from
any use of this document or its contents or otherwise arising in connection with this document.

This document may not be reproduced or redistributed to any other person or published in whole or in part for any purpose. By receiving this document you agree
to be bound by the foregoing limitations.

This document should be used solely to enable the recipient to evaluate its interest in the project. The recipient agrees that unless and until definitive agreements
regarding the project has been executed the Company will not be under any legal obligation of any kind whatsoever with respect to the project. The recipient
further acknowledges and agrees that the Company reserves the right, in its sole discretion, to reject any and all proposals made by the recipient with regard to
the project and to terminate discussions and negotiations with the recipient at any time.

Note - Motilal Oswal group includes all real estate funds managed by Motilal Oswal Alternate Investment Advisors Pvt. Ltd. Motilal Oswal Home Finance Limited
and any NCD’s issued to and/or managed by affiliates of Motilal Oswal Finvest Limited

Note: Existing Debt Shall mean 225 (Two Hundred and Twenty Five) listed, rated, secured, redeemable, cumulative, non-convertible Series A debentures of par
value Rs. 10,00,000/- (Rupees Ten Lakhs) each which were issued and allotted by the Company to India Realty Excellence Fund III. This has been prepaid due to
regulatory reasons.

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Thank You

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