Fixed deposits and the corpus · as at 7 September 2026

Our reserves

At handover in June 2022 the owners' corpus was ₹11.76 crore. Today it is about ₹9.33 Cr: ₹3.20 Cr at HDFC, ₹5.38 Cr at ICICI, and ₹75.0 L still with Sobha.

Reserves today

₹9.33 Cr

HDFC + ICICI + held by Sobha

Interest they earn, per year

≈ ₹67 L

before tax at about 31%

Used for running costs, FY 25–26

₹50 L

net, without General Body approval

At handover, June 2022

₹11.76 Cr

held by Sobha until returned in 2023–24

Where the reserves sit

Cash in the operating account, month-end

The quarterly bill fills the account. By month three it is empty. The June figure is being reconciled.

The deposits

Where	Deposits	Principal	Rate	How interest is paid	Maturity
HDFC Bank	16	₹3.20 Cr	7.16%	Interest paid to the operating account every month (≈ ₹1.91 L)	1 and 19 September 2028
ICICI Bank	11	₹5.27 Cr	≈7–7.5% (to confirm)	Interest is added to the deposit and paid at maturity	One deposit of ₹14 L within weeks and one of ₹27 L within a year; the rest between 2027 and 2029 (exact dates being confirmed from the bank's advices)
Held by Sobha Ltd (developer)	—	₹75.0 L	8.0%	Interest of ≈ ₹50,000 a month paid to the association; Sobha adjusts its unpaid facility bills against this balance	To be recovered; being negotiated down to a defined deposit

Sources: the banks' own deposit summaries dated 7 September 2026 and Sobha's corpus statement. Account numbers are not published.

Two figures are being reconciled. The accountant's statements show ₹3.81 crore in HDFC deposits; the bank's own summary on 7 September shows ₹3.20 crore. And Sobha's ledger shows about ₹75 lakh of the corpus held, against ₹90 lakh in the books, because Sobha sets its unpaid bills off against the balance. The figures on this page are the banks' and Sobha's. Both differences will be explained in the meeting pack.

How ₹11.76 crore became ₹9.33 Cr

Jun 2022

₹11.76 Cr collected by Sobha at handover. For sixteen months Sobha ran the estate from it: ₹1.88 Cr charged, ₹1.17 Cr of interest credited.

Nov 2023 – Jun 2024

Sobha returned ₹9.30 Cr in nine instalments. It went into fixed deposits at HDFC and ICICI. Sobha kept ₹91 L as security for its facility service.

2024–25 and 2025–26

Interest was spent on running costs. In 2025–26, ₹50 L of principal was also used, without General Body approval.

Today

₹9.33 Cr, of which ₹8.58 Cr is in bank deposits. A full bridge from the audited accounts will be in the meeting pack.

Going to the meeting

Interest is income. Principal is not. Principal is not withdrawn without a General Body resolution. Every withdrawal is reported here the month it happens.
Three signatures or five MC signatures for every deposit movement.
A monthly deposit statement on these pages, from the banks, not from the books.
A sinking fund from next year, so the ₹50 L used is rebuilt and the big repairs of the next ten years have a plan.

Updated 15 September 2026. Accounts to end Aug 26; deposits as at 7 September 2026; survey August 2026. Published by the Managing Committee. Questions: spcaoa@gmail.com