138 139
29.
Commitments
As at the end of the financial year, the Group had the following commitments:
(a)
Development and investment expenditure:
2015
2014
$'000
$'000
Amounts approved and contracted for
– Investment
201,019 112,588
– Development
52,433
3,371
Amounts approved but not contracted for
– Development
2,074
31,533
255,526 147,492
As at 31 March 2015, amount approved and contracted for includes:
(i)
$117,000,000 (2014: $112,600,000) pertaining to the acquisition of three buildings in Hitec City 2 Special
Economic Zone in Hyderabad. The three buildings are expected to be ready over the next 3 to 4 years.
(ii)
$84,000,000 (2014: NIL) pertaining to the acquisition of the shares of FDPL.
(iii)
$52,400,000 (2014: $3,400,000) pertaining to investment properties under construction in ITPL and VITP
(Note 18).
(b)
Operating lease commitments – where a group company is a lessor
The Group leases out investment properties under operating leases with varying terms, escalation clauses and
renewal rights.
The future minimum lease receivable under operating leases contracted for at the balance sheet date but not recognised
as receivables is analysed as follows:
2015
2014
$'000
$'000
Lease receivables:
– Within 1 year
64,912
48,464
– After 1 year but within 5 years
86,620
63,877
– After 5 years
5,320
6,431
156,852 118,772
30.
Operating segment
The Group’s investment properties are primarily tenanted for use as business space and are located in India. The revenues
from the Group are derived primarily from corporate tenants and no single major customer represents sales of more than
10%. Therefore, the Trustee-Manager considers that the Group operates within a single business segment and within a
single geographical segment.
