Neptune Land Development Limited – Real Estate

At Neptune Land Development Ltd., they desire to bring communities together and develop stronger bonds of friendship and harmony among neighbors and friends. In short, they desire to build an ideal home. After all, home is where the heart is, and that is one thing that they wish to attain – to win over customers’ hearts.

Neptune Land Development Ltd. (NLDL) started its commercial operation as a premium real estate company in 2003 with United City (Member rehab 208/2004) being its leading project. Thinking a scenic landscape where all the attraction that nature has to give resides in ideal harmony with the brilliance of Man’s creativity in the field of architecture. Thinking expanded open fields echoing with children’s laughter, lake beside which to sit and while and evening away, a gentle air rushing through the ample greenery dotting the landscape and the perfect calmness of suburbia. Now place this most attractive setting within one of the largest metropolitan cities in the world and customer shall have a sight of what United City is turning out to be. Situated at stone’s throw distance away from the US Embassy in Baridhara, it can simply be stated as a piece of heaven in Dhaka, where families can begin their lives anew and secure in their knowledge that they dwell in one of the first of areas in the capital.

With over 300 acres now under development in United City and 650 plots already handed over to a most outstanding customer, the prime objective of Neptune Land Development Ltd. is to become the main and most reliable builder of real estate projects in the country. To back up their declaration, they only sell land that is purely unquestionable and owned by them in their entirety. So far, their valued customers have showed outstanding belief in them with over 70% choosing to buy plots in outright one off payments. And the cherry on the top? The scheme has been built according to full compliance with RAJUK guidelines, thus becoming one of the only such real estate projects to be fully approved by the government body.

Particulars

• Selling price 59,249,162.00
• Opening raw materials 16,772,706.00
• Add: purchases 49,792,794.00
• 66,565,500.00
• Less: Closing raw materials 20,864,120.00
• Material used 45,701,380.00
• Add: Fixed Expenses:
• Salaries and wages 901,814.00
• Depreciation 126,963.00
• 1,028,777.00
• Prime cost 46,730,157.00
• Add: Factory Overheads:
• Oil, fuel and lubricants 480,415.00
• Repair and maintenance 152,500.00
• Conveyance 24,550.00
• Entertainment 41,127.00
• Testing charges 22,000.00
• Gas refill 21,830.00
• Holiday and extra duty allowances 22,750.00
• General expenses 12,584.00
• Labour bill 87,380.00
• Spare-parts 414,136.00
• Night bill 67,900.00
• Hydrolic oil, machine oil, grease etc. 121,675.00
• Newspaper 310.00
• Electrical expenses 5,150.00
• Equipment hire charges 60,000.00
• Hose pipe purchase 7,400.00
• Registration and renewal 19,850.00
• Cookeries and cutleries 400.00
• Tyre purchase 608,000.00
• 2,169,957.00
• 48,900,114.00
• Gross profit for the month 10,349,048.00

Conclusion

The report evaluates costing process of selected subsidiaries of United Enterprise and Company Limited. In doing so, author analyzed the cost structures and taken some interviews of different levels of people associated to the selected subsidiaries of the company. He also collected some secondary data from United Group website to investigate the true information of the selected subsidiaries within the company.

After evaluating the information found in the interviews and secondary data, the author has concluded that there is no specific cost structure within the selected subsidiaries of the company. But the “Cost plus Profit” method is mostly followed by the selected subsidiaries when the profit margin is set by the management of the company.

Recommendations

The report suggests management and other regulatory authorities to take necessary steps for the further development of the costing procedure of the selected subsidiaries of the company. Finally, the report intends playing crucial role in expanding awareness among the stakeholders about the costing process of the selected subsidiaries of the company. 

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