Alpine Housing Development Corporation Ltd Management Discussions.

Dear share holders,

In the year 2018, the global economy grew at 3.6%, where as the Indian economy has grown in 2018-19 at 6.8%. India has placed itself as the 5th largest economy in the world and the government has a vision to take the economy from the present $ 2.7 trillion to $ 5.00 trillion by 2025. Government of India with its initiative and programs is working to reach the $ 5.00 trillion target.

Though Indian economy in comparison to world economy has done very well but when compared with its own figures of previous years the economy has slowed down. In 16-17 the economy grew at 8.2% and in 17-18 it grew by 7.2% and in comparison to that in 18-19 it grew only by 6.8% and in 19-20 it is expected to be even less. Due to slow down in economy many sectors have been impacted and in particular the real estate sector.

The real estate gets impacted very fast when economy slows down and unemployment fear creeps into the mind. Real estate investment is the last option of the home buyers when their job condition is not safe.

In view of this the overall market has slowed down and the demand generally has come down. The real estate market is no exception. The slowing economy has resulted in the slowing of the real estate market. The real estate market has also slowed down because of oversupply of the apartments in the market.

However, we have been able to achieve a turnover of Rs.32.19 crores in 2018-19 as against 31.66 crores in 2017-18. Our net profit after tax in 2018-19 has been Rs.2.95 crores which has resulted in an EPS of 1.71.

FINANCIAL REVIEW (PY figures have been regrouped in line with IND AS)

Equity including reserves

The equity of the company as on March 31 2019 is Rs.65.34 Crores as compared with Rs.62.38 Crores on 31.03.2018.

Debt Equity

The debt equity ratio of the company for FY 18-19 was 1:0.89 as compared with 1:1.01 in the previous year.


The total revenue of the Company increased by 1.63% to Rs.32..20 Cr. in the financial year 2018-19 as compared with Rs.31.67 in 2017-18.


EBIDTA Increased by 21.74% in FY 18-19 compared to 10.17% in the previous financial year.

Finance Costs

Interest and Finance costs during the year FY 17-18 stood at Rs.2.44 Cr compared to Rs.1.85 Cr in the previous financial year.

Net Profit

Net Profit stood at Rs.2.96 Cr. for the year 18-19 compared to 3.13 Cr. In 17-18.

Earnings per share

The companys EPS (Diluted) stood at Rs.1.70 FY 18-19 from Rs.2.41 in the previous year.