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PropertyLensBengaluru · invest

Financial & legal due diligence · public record · 18 Oct 2026

Century Codename Blue Moon

Century Real Estate · Jakkur (Bellary Road / Airport corridor) · Century Immencity, Jakkur, Bellary Road (NH-44) airport corridor, Bengaluru 560064

Promoter entityREALKRAFT VENTURES LLP

Entity type · PANPartnership Firm · ABIFR6156P

Developer brandCentury Real Estate

RERA registrationsCentury Astoria: PRM/KA/RERA/1251/309/PR/160526/008662

Planning authorityBBMP - Bruhat Bengaluru Mahanagara Palike

Sanctioned planBBMP/Addl.Dir/JDNORTH/0052/25-26 · 2025-12-31

Escrow bankICICI Bank, Cunningham Road Branch

Land6.075 acres · 20 land owners on record

Court cases declared1

Complaints at K-RERA0 on this project · 0 on the promoter

Record fetchedSep 2026

10 red flags16 to watch13 positive

Century Astoria (marketed as Codename Blue Moon), RERA PRM/KA/RERA/1251/309/PR/160526/008662. Public records only. This report records what the Karnataka RERA file, the promoter’s quarterly filings, the complaint register, public credit ratings and company filings say. It states facts and flags them; it does not judge the investment. Prices, returns and the investment score live in the separate full report.

Financial & legal due diligence

What the public record says

Century Astoria (marketed as Codename Blue Moon), RERA PRM/KA/RERA/1251/309/PR/160526/008662. Public records only. Compiled Sep 2026 from the Karnataka RERA file, company registers, rating agencies, tribunal records and press. Facts only; anything that deserves a written answer before signing is flagged.

10 red16 watch13 positive

Delivery timeline9/10

no extensions, no overdue dates on the RERA file

Legal & complaints7.5/10

1 court case declared in filings (−1.5)

Money to finish4.5/10

₹300 cr NCDs drawn before construction; finance is 48% of budget; but filed surplus test is positive and escrow is functioning.

Developer strength2.6/10

Acuité B-/Stable (Century Joint Developments)

Meters are rule-based from the RERA file and public ratings (rules shown under each), not opinions.

Century Astoria

PRM/KA/RERA/1251/309/PR/160526/008662 · REALKRAFT VENTURES LLP

On original date

Construction2%

quarterly filing Q1 2026-27 (submitted 2026-07-13)

Homes booked41 / 334

293 still available

Sold vs built12% vs 2%

Sales and construction are broadly in step.

Money through the RERA account

Collected from buyersWithdrawn for construction

Latest milestones

Foundation footing work
0%
Upto Plinth Level
0%
Sub-structure flooring
0%
Retaining wall
0%
RCC or MS Framed structure
0%
Masonry Construction
0%

1 court case declaredNo complaintsNBFC finance 48% of budgetEscrow: ICICI BankJoint-development land

Credit ratings of the people behind it

Realkraft Ventures LLP / ₹300 cr NCD: no public rating located

Complaints & disputes on record

On this project00 open

On the promoter entity0all projects

Court cases declared1no stay recorded

The promoter is a project LLP; a third-party aggregator lists nine RERA complaints against Century Real Estate Holdings (five decided for, four against).

At a glance

On its original RERA date

On its original RERA completion date: 2031-02-12

2% built, 12% booked

2% built per the latest filing; 41/334 homes booked

No complaints on this project

No RERA complaints on this project; 0 on the promoter overall

1 court case declared

1 court case declared in RERA filings (no stay recorded)

Seller is a ₹1 lakh LLP, no parent guarantee

The seller is Realkraft Ventures LLP (incorporated Feb 2024): ₹1 lakh partner capital, ₹11.6 cr total assets, no revenue at 31 Mar 2025. No parent guarantee from Century Real Estate Holdings is on the RERA file.

Half the budget is finance cost; ₹300 cr NCDs drawn

₹583.5 cr of the ₹1,218.6 cr registered project cost (47.9%) is principal and interest to a non-bank lender; ₹300 cr of debentures are fully drawn and the project is mortgaged to Vistra ITCL.

2% built, 41 of 334 sold, escrow 69% vs 70%

At 30 Jun 2026: 2% physically complete, 41 of 334 homes booked, ₹5.39 cr in the escrow account; 69% of collections deposited against the 70% statutory minimum (recorded by the CA as a qualification).

Project shows a surplus on filed numbers

On filed numbers the project shows a surplus (₹126.5 cr at guideline value; larger at achieved prices of ~₹29,400/sq ft carpet).

Frame starts Jun 2027; completion Feb 2031

Registered completion is 12 Feb 2031; the structural frame is scheduled to start Jun 2027. Marketing shows 2030.

RERA file contradicts itself twice

The RERA file contradicts itself on borrowing (“No” vs ₹300 cr NCDs) and on litigation (“No” vs High Court appeal MFA 3614-3615/2025, no stay recorded).

Group ratings speculative but rising

Group ratings are speculative grade but rising: Century Joint Developments Acuité B−/Stable (Aug 2025, from C); Suruchi Properties BB−/Stable (Jan 2025, from B). No NCLT proceeding located.

Listed contractor appointed

Main civil contractor appointed: B. L. Kashyap & Sons (listed) accepted a ₹183.18 cr letter of intent, disclosed to the BSE on 21 Aug 2026.

The record, in pictures

Who you contract with

Partners’ capital₹1 lakh

Total assets₹11.6 crfor a ₹1,219 cr project

Cash at bank₹49,764

Revenue FY25nil

Parent guaranteeNoneon the RERA file

Incorporated 11 Feb 2024Same 4 people as Century’s boardJoint-development land · 20 recorded ownersSame SPV pattern as Novus, Liva, Bliss, Trails

Registered cost sheet (Form 1, May 2026)

Where the ₹1,218.6 cr budget goes

Land ₹89.49 cr · 7%Approvals ₹24.45 cr · 2%Construction ₹271.01 cr · 22%On-site costs ₹250.17 cr · 21%Finance (principal + interest) ₹583.5 cr · 48%

Bricks and mortar ≈ 43%; finance ≈ 48%.

Debentures drawn₹300 crmortgagee Vistra ITCL

Implied cost of money~17% p.a.if no further drawdowns

First quarterly filing (quarter to 30 Jun 2026)

Physical completion2%earthwork 30%; rest 0%

Homes booked41 / 334₹210 cr contracted

Escrow closing₹5.39 cropened 6 Jun 2026

Deposited to 70% account69%statutory 70%

Achieved price~₹29,400per sq ft carpet

Does the project pay for itself? (CA figures)

Receivables + unsold stock at guideline

₹1,235 cr

Balance cost to complete (incl. finance)

₹1,108 cr

Indicative surplus

₹126.52 cr

At achieved prices the surplus would be ~₹515 cr (30%) — a scenario, not audited.

Approvals, title and litigation

Conversion granted Aug 2019BBMP e-khata Aug 2025Plan sanction 31 Dec 2025Advocate title report on fileKSPCB consent: still “Applied”High Court appeal MFA 3614-3615/2025 · no stayBorrowing declared “No” vs ₹300 cr NCDsLitigation declared “No” vs appeal disclosed

Group accounts and ratings

Revenue FY24₹508 cr−23% YoY

Net result FY24≈ −₹131 crmargin −25.75%

Borrowings₹1,586 cr

Registered charges₹3,241–3,960 crexceed total assets

Debt raised May 2025₹1,850 crAres Asia, SC Lowy

FY25 sales> ₹1,800 crFY26 target ₹3,000 cr

Insolvency, complaints and track record

No NCLT / IBBI proceeding1 MSME delayed payment on record (2018-19)9 RERA complaints vs Century Holdings (aggregator)No Section 7(3) extension on any Century project

How late were earlier Century projects? (months past first promised date)

Century Renata

12 months

Century Breeze

21 months

Century Ethos

21 months

Century Greens

18 months

Century Horizon

9 months

Century Seasons

0 months

Century Novus (82% built, on time)

0 months

RERA file · Century Astoria

Registered project cost ₹1219 cr — where it goes

Land ₹0 cr · 0%Approvals ₹24.5 cr · 1%Construction & on-site ₹1,105 cr · 65%Finance (NBFC) ₹583.5 cr · 34%

Construction programme as filed (quarterly filing Q1 2026-27 (submitted 2026-07-13))

Bars are the filed schedule; filled part is reported progress. Red = past its scheduled end and not complete.

Miscellaneous First Appeal 3614-3615/2025 · The High Court of Karnataka · no stayBorrowing declared: NoEscrow at ICICI Bank20 recorded land-owner sharesOwners’ association: not formed

Red flags to resolve in writing

Money

Thinly capitalised LLP as counterparty; no parent guarantee on file.

Money

Finance cost is 47.9% of the registered budget; ₹300 cr debentures drawn before construction has begun.

Legal

RERA file inconsistencies: borrowing declared “No”; litigation declared “No” but a High Court appeal is disclosed in the first quarterly filing.

Money

Escrow deposits at 69% vs 70% statutory minimum in the first quarter.

Timeline

Frame not scheduled until Jun 2027; registered completion Feb 2031 against 2030 marketing.

Money

Group holding company loss-making with charges above assets; rated group entity was at Acuité C thirteen months before the brief.

Questions to put to the developer before you sign

Will Century Real Estate Holdings give a written corporate guarantee or completion undertaking enforceable by allottees?
What are the coupon, tenor, amortisation and covenants on the ₹300 cr NCDs, and will a no-objection and partial release be issued per sold unit?
Does the ₹583.5 cr finance line assume drawdowns beyond ₹300 cr?
What does MFA 3614-3615 of 2025 concern, which survey numbers, who are the parties, and what is counsel’s written title opinion?
Why was 69% deposited in Q1, and what controls ensure 70% every quarter?
What is the land owners’ share of built area, and is the unit being bought in the developer’s share?
Which Immencity amenities are inside the 6.075-acre registration with committed dates?
Which date is contractual — 2030 or 12 Feb 2031 — and what is the per-month delay compensation?
Will a construction-linked payment plan tied to the RERA milestone table be accepted?
What is the status of the KSPCB consent?

Full record: every filed number, line by line8 sections · 59 items

Who you contract with

Promoter on RERA

Realkraft Ventures LLP, LLPIN ACF-4833, incorporated 11 Feb 2024; four partners at 25% each — the same individuals who are whole-time directors of Century Real Estate Holdings; authorised signatory Mahesh Prabhu

LLP accounts, 31 Mar 2025

Partners’ capital ₹1,00,000; partners’ current account ₹8.15 cr; inventories ₹5.14 cr; cash ₹49,764; total assets ₹11.64 cr; revenue nil

Parent guarantee

None on the RERA file. An LLP’s liability is limited; a claim would lie against Realkraft, not the group

Same structure elsewhere

Century Novus (Talreja Realty LLP), Century Liva (Archway Realty LLP), Century Bliss (Hebbal Properties), Century Trails (Century Prime Properties)

Land

Joint development: nine survey numbers; JDA registered 21 Mar 2024 (Byatarayanapura); the Raju family and others recorded as land owners and co-promoters with shares

Registered cost sheet (Form 1, May 2026)

Land

₹89.49 cr (7.3%)

Approvals, NOCs, conversion

₹24.45 cr (2.0%)

Construction (engineer-certified)

₹271.01 cr (22.2%)

On-site: workers, overheads, consultants

₹156.35 cr + ₹78.18 cr + ₹15.64 cr (20.5%)

Principal and interest to NBFC

₹583.50 cr (47.9%)

Total

₹1,218.62 cr

Disclosed borrowing

₹300 cr NCDs, fully drawn; mortgagee Vistra ITCL (India) Ltd. The ₹583.5 cr line implies either ~17% p.a. on ₹300 cr to 2031 or further drawdowns

First quarterly filing (quarter to 30 Jun 2026)

Physical completion

2% (earthwork 30%; foundations, plinth, basements, frame all 0%)

Cost incurred

₹110.26 cr (land and approvals ₹98.46 cr; construction ₹11.80 cr) = 9.05% of budget

Sales

41 of 334 booked; 293 available; ₹210.36 cr contracted for 6,647 sq m carpet (~₹29,400/sq ft carpet)

Escrow

Opened 6 Jun 2026 at ₹0; deposited ₹12.39 cr; withdrawn ₹7.00 cr; closing ₹5.39 cr

70% rule

69% of ₹17.87 cr collected was deposited (gap ≈ ₹12.3 lakh); recorded as a qualification by the CA

Self-funding test (CA figures)

Receivables ₹199.65 cr + unsold at guideline ₹1,035.23 cr = ₹1,234.88 cr, less balance cost ₹1,108.36 cr → surplus ₹126.52 cr

Same test at achieved prices

334 homes at ₹3,16,451/sq m carpet ≈ ₹1,733.8 cr less ₹1,218.6 cr total cost → gross surplus ≈ ₹515 cr (30%). Scenario, not audited

Construction programme (as registered)

Earthwork

Feb–Aug 2026 (30% at 30 Jun)

Footings

May–Aug 2026 (0%)

Up to plinth

Jun 2026–Aug 2027

Basements

Nov 2026–Aug 2027

RCC frame

Jun 2027–Feb 2029

Masonry

Aug 2028–May 2029

Elevation

Mar 2030–Feb 2031

Registered completion

12 Feb 2031 (marketing: 2030)

Contractor

B. L. Kashyap & Sons: LoI dated 19 Aug 2026, ₹183.18 cr, civil and structural works, ~18 months (BSE, 21 Aug 2026)

Approvals, title and litigation

Conversion

Granted Aug 2019

E-khata

BBMP e-khata dated 4 Aug 2025

Plan sanction

BBMP/Addl.Dir/JDNORTH/0052/25-26 dated 31 Dec 2025

Title report

Advocate’s title report on file

KSPCB consent

Applied 19 Jun 2025; still shown as “Applied”

Litigation

Registration: “No”, with notarised affidavit. Quarterly filing of 13 Jul 2026: “Yes” — MFA 3614-3615 of 2025, High Court of Karnataka; no injunction or stay recorded

Borrowing declaration

Registration: “No”. Form 4: ₹300 cr NCDs drawn, project mortgaged

Group accounts and ratings

Century Real Estate Holdings (FY to 31 Mar 2024)

Revenue ₹507.74 cr (−23%); net margin −25.75% (loss ≈ ₹131 cr); total assets ₹3,640.8 cr; borrowings ₹1,586 cr; net worth down 46%

Registered charges

₹3,241 cr open (one aggregator) to ₹3,959.5 cr (another); largest holders Catalyst Trusteeship ₹3,200 cr, IDBI Trusteeship ₹700 cr; charges exceed total assets on either figure

Since then

₹1,850 cr debt raised May 2025 (Ares Asia ₹1,600 cr, SC Lowy ₹250 cr); pre-sales ≈ ₹1,040 cr in H1 FY25; FY25 sales reported above ₹1,800 cr; FY26 target ₹3,000 cr

Acuité — Century Joint Developments

B−/Stable, 13 Aug 2025, on ₹1,600 cr NCDs; upgraded from C after an April 2025 refinancing resolved earlier payment delays; coupon moratorium to Dec 2025 noted

Acuité — Suruchi Properties

BB−/Stable, 10 Jan 2025, on ₹450 cr listed NCDs

Realkraft / the ₹300 cr NCD

No public rating located

Insolvency, complaints and track record

NCLT / IBBI

No admission or proceeding located against Century Real Estate Holdings or Century Joint Developments as at 13 Sep 2026

Small suppliers

One MSME-1 delayed-payment record located (Oct 2018–Mar 2019)

RERA complaints

Third-party aggregator lists nine against Century Real Estate Holdings: five decided for the promoter, four against (unverified against the Authority’s register)

Older projects

Renata, Breeze, Ethos, Greens: 12–21 months later than first promised, using Section 6 and Covid extensions; no Section 7(3) extension on any Century registration

Comparable: Century Novus (Jakkur)

Registered Apr 2023 for Aug 2027; 82% complete and 219 of 234 sold at 30 Jun 2026; DCB Bank repaid; 70.57% deposited; spent 102% of budget with 18% of work left

RERA file · Century Astoria

Registration

PRM/KA/RERA/1251/309/PR/160526/008662 · promoter REALKRAFT VENTURES LLP (Partnership Firm) · ACF-4833

Dates

Start 2026-02-01 · original completion 2031-02-12 · no extensions

Progress

2% complete per quarterly filing Q1 2026-27 (submitted 2026-07-13) · 41 of 334 homes booked (293 available)

Registered cost

Total ₹1219 cr · land ₹0.00 cr · construction ₹1105 cr · NBFC principal+interest ₹584 cr (48%)

Borrowing / mortgage declared

Borrowing: No

RERA bank account

ICICI Bank, Cunningham Road Branch (70% construction account)

Plan sanction

BBMP/Addl.Dir/JDNORTH/0052/25-26 dated 2025-12-31 · BBMP - Bruhat Bengaluru Mahanagara Palike

Land & towers

6.08 acres (24,585 sq m) · Tower 1 75 homes, 15 floors; Tower 2 79 homes, 16 floors; Tower 3 26 homes, 16 floors; Tower 4 79 homes, 16 floors; Tower 5 75 homes, 15 floors

Land owners / co-promoters

N Padmaraju (7.08%, Sy 42/5); L K Anupama alias L K Anupama Raju (7.08%, Sy 42/5); L K Akhila (7.08%, Sy 42/5); B L Naveen alias B N Naveen Raju (7.08%, Sy 42/5); B L Chaya (7.08%, Sy 42/5); Mr. L K Raju alias Lakshmikantha Raju (7.08%, Sy 43/2); N Padmaraju (7.08%, Sy 43/2); L K Anupama alias L K Anupama Raju (7.08%, Sy 43/2) +12 more

Litigation declared

Miscellaneous First Appeal 3614-3615/2025, The High Court of Karnataka — no stay

K-RERA complaints

0 on this registration (0 open) · 0 on the promoter entity across all its projects (a project-specific LLP; group-level complaints sit under other entities)

Owners’ association

Not yet formed

Completion applied

19/12/2020

Source: Karnataka RERA project record PRM/KA/RERA/1251/309/PR/160526/008662, fetched 2026-09-15. Figures are the promoter’s own filings.

Sources & caveats5 sources

Karnataka RERA record for Century Astoria (registration file; quarterly update for Q1 2026-27 submitted 13 Jul 2026); CA Form 4 dated 7 Jul 2026 (RKN & Co) with Annexure A
Realkraft Ventures LLP audited accounts FY2024-25 as filed with the Authority
Karnataka RERA records for Century Novus and nine other Century registrations
MCA records for Century Real Estate Holdings (U70101KA2007PTC042078) and Realkraft (ACF-4833) via aggregators
Acuité rationales: Century Joint Developments (13 Aug 2025), Suruchi Properties (10 Jan 2025); B. L. Kashyap BSE announcement (21 Aug 2026); press reports of the May 2025 financing
Karnataka RERA project records PRM/KA/RERA/1251/309/PR/160526/008662 (registration file, quarterly updates, complaint register), fetched Sep 2026.

Caveats. Only one quarterly filing exists, so there is no trend. Group accounts are to 31 Mar 2024 and aggregators disagree on the charge total. Price-per-carpet-foot and surplus figures are arithmetic on filed numbers, not audited forecasts. Absence of an insolvency filing rests on news and web indexes. Nothing here is legal, tax or investment advice.