Eldeco Housing & Industries Ltd Directors Report.

To,

The Members,

Eldeco Housing and Industries Limited

Your Directors have pleasure in presenting the 34th Annual Report of your Company together with the Audited Financial Statements for the financial year ended March 31, 2019.

FINANCIAL HIGHLIGHTS

The summarized financial results for the year ended March 31, 2019 and for the previous year ended March 31, 2018 are as follows:

(Rs. in Lacs)

Standalone

Consolidated

March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Revenue:
1) Revenue from operations 10766.76 7435.48 16,819.44 10898.30
2) Other Income 436.63 352.76 563.51 465.02
Total Income 11203.39 7788.24 17,382.95 11363.32
Expenses:
1) Cost of material consumed, construction and other related project cost 5550.57 5646.92 9 407.40 8005.05
2) Changes in inventories of finished goods, project in progress (245.95) (2315.10) 391.78 (2110.94)
3) Employee benefit Expense 436.79 411.87 476.19 452.60
4) Finance cost 185.42 170.84 188.66 196.86
5) Depreciation and amortization expense 20.46 24.44 22.59 27.10
6) Other expenses 1263.78 1068.21 1492.09 1136.53
Total Expenses 7210.99 5007.19 11978.71 7707.20
Profit before Tax (PBT) 3992.40 2781.05 5404.24 3656.12
Tax Expenses:
1) Current tax 1156.06 961.51 1604.68 1205.95
2) Deferred tax (12.51) (77.85) (35.06) (80.41)
3) Earlier year Taxes 3.30 - 4.65 (4.32)
Total Tax Expenses 1146.85 883.66 1574.27 1121.23
Profit after Tax 2845.55 1897.39 3829.97 2534.89
Shares of Profits of Associates (Net) - - - -
Total Other comprehensive income 2.76 0.35 3.02 0.35
Total comprehensive income for the year 2848.31 1897.75 3832.99 2535.24

STATE OF COMPANYS AFFAIRS

During the year under review, your Company recorded on consolidated basis total revenue of Rs. 17,382.95 lacs including other income of Rs. 563.51 lacs as against total revenue of Rs. 11363.32 lacs including other income of Rs. 465.02 lacs of the previous financial year ended March 31,2018.There is a growth in the profit for the year ended March 31, 2019 amounting to Rs. 3829.97 lacs as compared to the previous financial year profit ended March 31, 2018 amounting to Rs. 2534.89 lacs.

Further, your Company recorded on Standalone basis total revenue of Rs. 11203.39 lacs including other income of Rs. 436.63 lacs as against total revenue of Rs.7788.24 lacs including other income of Rs.352.76 lacs of the previous financial year ended March 31, 2018. There is a growth in the profit for the year ended March 31, 2019 amounting to Rs. 2845.55 lacs as compared to the previous financial year profit ended March 31, 2018 amounting to Rs. 1897.39 lacs.

The operational performance of the Company has been comprehensively covered in the Management Discussion and Analysis Report.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) 2015,the Board has carried out the annual performance evaluation of its own performance, the Directors individually as well as the evaluation of its committees.

The performance of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of criteria, such as, board composition and quality, understanding business and risks, effectiveness of board processes and procedures, oversight of financial reporting process including internal controls and audit functions, ethics and compliance and monitoring activities, etc.

The performance of the Committees were evaluated by the Board after seeking inputs from the Committee members on the basis of criteria, such as, composition of Committee, effectiveness of Committee meetings, etc.

The performance of individual Directors was evaluated on parameters as defined by the Board and the Nomination and Remuneration Committee, inter-alia, such as regularity, preparatory, participation at the Board meetings, timely execution of action items, recommendations and their periodic update to the Board, effective and successful relationships and communication with fellow Board members and senior management quality and value of their contributions at board meetings, adherence to the Companys policies and resolutions, devoting time and effort to understand the company and its business etc.

In a separate meeting of Independent Directors, the performance of Non- Independent Directors, performance of Board as a whole and the performance of Chairman was evaluated, taking into account views of Executive and Non-executive Directors. Performance evaluation of Independent Directors was carried out by the entire Board, excluding the respective Independent Director being evaluated.

MATERIAL CHANGES AND COMMITMENT

Except as disclosed elsewhere in this report, no material changes and commitments affecting the financial position of the Company have occurred between the end of the financial year of the Company to which the Financial Statements relate and the date of this report.

DIVIDEND

The Board of Directors of your company in its meeting held on 29th May, 2019 have recommended a dividend of Rs. 17.50/- per equity share of the face value of Rs. 10/- each (@ 175%) for the financial year ended March 31, 2019, payable to those Shareholders whose names appear in the Register of Members as on the Book Closure / Record Date.

The recommendation is subject to the approval of shareholders at the ensuing Annual General Meeting (AGM) to be held on Friday, September 27, 2019.

The dividend shall be paid to members whose names appear in the Register of Members as on Friday, September 20, 2019 and in respect of shares held in dematerialized form, it shall be paid to members whose names are furnished by National Securities Depository Limited and Central Depository Services (India) Limited, as beneficial owners as on that date.

An amount of Rs. 70, 75,827/- (Rupees Seventy lakh Seventy Five Thousand Eight Hundred and Twenty Seven only) would be paid as dividend distribution tax on the dividend.

TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

Pursuant to Section 124 of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ("IEPF Rules"), all unpaid or unclaimed dividends are required to be transferred by the Company to the IEPF, established by the Government of India, after the completion of seven years. Further, according to the Rules, the shares in respect of which dividend has not been paid or claimed by the shareholders for seven consecutive years or more shall also be transferred to the demat account created by the IEPF Authority.

During the year under review, the Company has transferred the unclaimed and unpaid dividend of Rs. 1,77,837/- (Rupees One Lakh Seventy Seven Thousand Eight Hundred and Thirty Seven only). Further 3400(Thirty Four Hundred) corresponding shares on which dividends were unclaimed for seven consecutive years were transferred as per the requirement of IEPF Rules.

Details of the Nodal Officer

Name : Ms. Chandni Vij
Email : chandni@eldecohousing.co.in
Contact No. : 0522-4039999

Schedule for transfer of unclaimed dividends to the IEPF:

Financial Year Ended Rate Date of Declaration Last Date for Claiming Last Date for Transfer to IEPF
31.03.2012 (Final) 10% 28.09.2012 01.11.2019 01.12.2019
31.03.2013 (Final) 80% 27.09.2013 03.11.2020 02.12.2020
31.03.2014 (Final) 20% 26.09.2014 02.11.2021 01.12.2021
31.03.2015 (Final) 20% 25.09.2015 01.11.2022 30.11.2022
31.03.2016 (Interim) 100% 08.03.2016 14.04.2023 13.05.2023
31.03.2017 (Interim) 125% 14.02.2017 23.03.2024 22.04.2024
31.03.2018 (Final) 125% 28.09.2018 04.11.2025 04.12.2025

The details of unpaid and unclaimed amounts lying with the company can be viewed at www.eldecogroup.com

FRAUDS REPORTED BY THE AUDITOR

During the year under review, no frauds under section 143(12) of the Companies Act, 2013 were reported to the Board or the Audit Committee by the Auditor.

CHANGE IN THE NATURE OF BUSINESS

During the year under review, there were no changes in the nature of business of the Company.

TRANSFER TO RESERVES

The Board of Directors of your Company has decided not to transfer any amount to the reserves for the year under review.

STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF A RISK MANAGEMENT POLICY FOR THE COMPANY INCLUDING IDENTIFICATION THEREIN OF ELEMENTS OF RISK, IF ANY, WHICH IN THE OPINION OF THE BOARD MAY THREATEN THE EXISTENCE OF THE COMPANY

The Board of the Company has taken all necessary steps for identifying the potential risks of your Company and their mitigation plans. The Board of Directors reviews the business plan at regular intervals for proper identification, analysis and mitigation of all material risks, both internal and external.

REMUNERATION POLICY

Pursuant to provisions of the Act, the Nomination and Remuneration Committee (NRC) of your Board has formulated a Remuneration Policy for the appointment and determination of remuneration of the Directors, Key Managerial Personnel, Senior Management and other employees of your Company. The NRC has also developed the criteria for determining the qualifications, positive attributes and independence of Directors and for making payments to Executive and Non- Executive Directors of the Company.

Your Directors affirm that the remuneration paid to the

Directors, Key Managerial Personnel, Senior Management and other employees is as per the Remuneration Policy of your Company.

The Remuneration Policy of your Company can be viewed at the Companys website at www.eldecogroup.com

DISCLOSURES U/S 197(12) OF THE COMPANIES ACT, 2013

Particulars
1. The ratio of the remuneration of each director to the median remuneration of the employees of the company for the financial year. 8.69%
The percentage increase in remuneration of each director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial year:
2. a) Mr. Pankaj Bajaj (Chairman cum Managing Director)* -
b) Mr. Sushil Dutt Mishra (Chief Financial Officer) 7.14%
c) Ms. Chandni Vij (Company Secretary) 8.93%
3. The percentage increase in the median remuneration of employees in the financial year. 11.90%
4. The number of permanent employees on the rolls of company. 46
5. Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration. 6.5%

*Drawing remuneration since October 1, 2018

During the financial year under review, none of the Companys employees was in receipt of remuneration as specified under Rule 5(2) & (3) of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 and hence no particulars are required to be disclosed in this Report. The names of the top ten employees in terms of remuneration drawn are available for inspection by the Members at the Registered Office of the Company during business hours on working days of the Company up to the date of the ensuing Annual General Meeting. Any Member interested in obtaining a copy of the said statement may write to the Company Secretary at the Registered Office of the Company.

SHARE CAPITAL

The paid-up equity share capital as on March 31, 2019 was Rs.196.66 Lacs. During the year under review, the Company has neither issued shares with differential voting rights nor granted stock options nor sweat equity shares. As on March 31, 2019 none of the Directors of the Company held shares or convertible instruments of the Company except Mr. Pankaj Bajaj, Chairman cum Managing Director who holds 10,68,267 equity shares.

PUBLIC DEPOSITS

No fresh/renewal of deposits was accepted during the financial year 2018-19 from the Public. There was no unclaimed deposit as at March 31, 2019, therefore no amount was outstanding as on the Balance Sheet date.

DIRECTORS & KEY MANAGERIAL PERSONNEL

a) Changes in Directors

During the year under review, Mr. Rahul Aggarwal, Non- Executive Independent Director of the Company, had resigned from the Company with effect from 8th February, 2019. The Board appreciates the guidance and support provided by him during his tenure.

Also, in terms of the provisions of the Companies Act, 2013, Mr. Shrikant Jajodia, Director (DIN:00602511) of the Company is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, has offered himself for reappointment. The Board recommends his re-appointment.

Brief resume of the Directors seeking re-appointment along with the other details as stipulated under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 are provided in the Report on Corporate Governance forming part of the Annual Report.

All Independent Directors of the Company have given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and Regulationl6(l)(b) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), 2015 The Independent Directors have also confirmed that they have complied with the Companys Code of Conduct for Directors and Senior Management Personnel.

b) Changes in Company Secretary

There was no change in the Company Secretary during the year under review.

c) Key Managerial Personnel

The following are the Key Managerial Personnel of the Company:

1) Mr. Pankaj Bajaj : Chairman cum Managing Director
2) Mr. Sushil Dutt Mishra : Chief Financial Officer
3) Ms. Chandni Vij : Company Secretary and Compliance Officer

DIRECTORS RESPONSIBILITY STATEMENT

In terms of provisions of Section 134(3)(c)of the Companies Act, 2013 your Directors to the best of their knowledge and belief state that:

a. in the preparation of the Annual Accounts for the year ended March 31,2019, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b. the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as

at March 31,2019 and of the profits of the Company for the year ended on that date;

c. the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. the directors had prepared the annual accounts on a going concern basis;

e. the directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively;

f. the directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

AUDITORS & THEIR REPORTS

a) Statutory Auditors

Pursuant to the provisions of Section 139 of the Companies Act, 2013, M/s B S D & Co., Chartered Accountants (Firm Registration Number: 000312S) were appointed as Statutory Auditors of your Company at the Annual General Meeting held on 29th September, 2017, for a term of five consecutive years till the conclusion of Thirty Seventh (37th) Annual General Meeting to be held in the year 2022 subject to ratification of their appointment by the Members at every Annual General Meeting, if so required under the Companies Act, 2013.

In accordance with the Companies Amendment Act, 2017, enforced on 7th May, 2018 by the Ministry of Corporate Affairs, the requirement of ratification of appointment of Statutory Auditors by members at every Annual General Meeting is no longer required.

Further, the Auditors have confirmed that they are not disqualified from continuing as Auditors of the Company.

The Report given by the Auditors is a part of this Report. The Notes on the Financial Statements and observations of the Auditors in their Report on the Accounts of the Company are self-explanatory and therefore do not call for any further comments. The Auditors Report annexed with this Annual Report, does not contain any qualification, reservation or adverse remarks.

b) Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013, the Company has appointed M/s R K Tandon & Associates, Practicing Company Secretaries (Membership No.-FCS672) as the Secretarial Auditor of the Company for the Financial Year 2018-2019. The report in respect of the Secretarial Audit carried out for the Financial Year 2018-2019 in Form MR-3 forms part of this Report as "Annexure-B" and does not contain any qualification, reservation or adverse remarks.

c) Internal Auditor

M/s Seth & Associates, Chartered Accountants, Lucknow (Firm Registration Number: 001167C) represented by Mr. Dhruv Seth (Membership No. 404028) performs the duties of internal auditors of the Company and their report is reviewed by the Audit Committee from time to time.

SUBSIDIARY COMPANIES

As on date of this report, there are following subsidiaries of the Company:

1. Aaj Constructions Private Limited

2. Artistry Construction Private Limited

3. Carnation Realtors Private Limited

4. Conviction Constructions Private Limited

5. Deepjyoti Constructions Private Limited

6. Dua Constructions Private Limited

7. Erudite Constructions Private Limited

8. Facility Constructions Private Limited

9. Fixity Constructions Private Limited

10. Flourish Constructions Private Limited

11. Frozen Constructions Private Limited

12. Garv Constructions Private Limited

13. Heather Buildcon Private Limited

14. Iris Realtors Private Limited

15. Khwahish Constructions Private Limited

16. Neo Realtors Private Limited

17. Neptune Infracon Private Limited

18. Numerous Constructions Private Limited

19. Omni Farms Private Limited

20. Perpetual Constructions Private Limited

21. Placate Constructions Private Limited

22. Primacy Constructions Private Limited

23. Samarpit Constructions Private Limited

24. Shivaye Constructions Private Limited

25. Suniyojit Constructions Private Limited

26. Sushobhit Constructions Private Limited

27. Swarajya Builders Private Limited

28. Swarg Constructions Private Limited

29. Swarnim Nirman Private Limited

30. Turbo Realtors Private Limited

31. Utsav Constructions Private Limited

32. Villa Constructions Private Limited

33. Yojna Constructions Private Limited

In accordance with the general circular No. 2 and 3 dated 8th February, 2011 and 21st February, 2011 issued by the Ministry of Corporate Affairs, Government of India, the Balance Sheet, Profit and Loss Account and other documents of the subsidiary companies are not being attached with the Balance Sheet of the Company. However the financial information of the subsidiary companies is disclosed in the Annual Report in compliance with the said circular. The Company will make available the Annual Accounts of the subsidiary companies and the related detailed information to any member of the Company who may be interested in obtaining the same. The annual accounts of the subsidiary companies will also be kept open for inspection

at the Registered Office of the Company. The Consolidated Financial Statements of the Company includes the financial results of its subsidiary companies.

REPORT ON THE PERFORMANCE AND FINANCIAL POSITION OF EACH OF THE SUBSIDIARY COMPANY INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT

Performance and financial position of the each of the subsidiaries is provided in a separate statement attached pursuant to first proviso to Section 129(3) of the Companies Act, 2013 in Form AOC-1.

CONSOLIDATED FINANCIAL STATEMENTS

The Consolidated Financial Statements of the Company are prepared in accordance with relevant Indian Accounting Standards issued by the Institute of Chartered Accountants of India and forms an integral part of this Report.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Pursuant to Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 and with various clarifications issued by the Ministry of Corporate Affairs, every Company having the net worth of Rs.500 crores or more or turnover of Rs.1000 crores or more or net profit of Rs.5 crore or more during the immediately preceding financial year have to spend at least 2% of the average net profit of the Company made during the three immediately preceding financial years.

Accordingly, the Company has to spend an amount of Rs. 33,48,687.39/- on CSR Activities based on the average profits of the three preceding financial years.

The CSR activities carried/to be carried out by the Company is driven by the expertise of the management. Additionally, the Company gives preference to the local area(s) of its operations for CSR activities. The Company believes that the CSR should be in the field(s) which have substantial social impact and which co-relate with the philosophy of the Company to improve the quality of life.

During the Financial year 2018-19, the Company has spent Rs. 5,50,523/- towards Mid-day meals for the poor section of the society, Sports Development Society for sponsorship fees for holding 18th Eldeco Cup Tennis Tournament and Donation towards Kerala Relief Fund for emergency relief and rehabilitation. However, for the balance amount, the Company could not identify relevant projects, and hence the entire spending prescribed towards CSR could not be made.

Annual Report on CSR activities as required under the Companies (Corporate Social Responsibility Policy) Rules, 2014 forms part of this Report and is attached as "Annexure-C". The terms of reference of the CSR Committee is provided in the Corporate Governance Report. Your Company has formulated a Corporate Social Policy (CSR Policy) which is available on the website of the Company at www.eldecogroup.com

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34(2) of the

Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 ("Listing Regulations") is appended to this Report.

CORPORATE GOVERNANCE

Your Company is committed to maintaining the highest standards of Corporate Governance and adhering to the Corporate Governance requirements as set out by Securities and Exchange Board of India. The Report on Corporate Governance as stipulated under the Listing Regulations, forms part of the Annual Report along with the Certificate from the Practicing Company Secretary confirming compliance with the conditions of Corporate Governance as stipulated under Schedule V on the Listing Regulations, and applicable provisions forms part of the Corporate Governance Report.

OTHER DISCLOSURES UNDER COMPANIES ACT, 2013

a) Extracts of Annual Return

Pursuant to the provisions of Section 134(3)(a) of the Companies Act, 2013, extract of the Annual Return for the financial year ended March 31, 2019 made under the provisions of Section 92(3) of the Companies Act, 2013 forms part of this Report and is attached as "Annexure-D". The Annual Return shall also be made available on the Companys website at www.eldecogroup.com

b) Meetings

There were 4 (Four) meetings of the Board during the financial year 2018-2019 in accordance with the provisions of the Companies Act, 2013 and rules made thereunder. The details of the number of meetings of the Board are disclosed in the Corporate Governance Report forming part of this Annual Report.

c) Committees of the Board

The Company has four Board level Committees:

1) Audit Committee

2) Nomination and Remuneration Committee

3) Stakeholders Relationship Committee

4) Corporate Social Responsibility Committee

The details of the Committees along with their composition, number of meetings and attendance at the meetings are provided in the Corporate Governance Report forming part of this Annual Report.

d) Composition of Audit Committee

The Board has constituted an Audit Committee, which comprises of Mr. Anil Tiwari as the Chairman and Mr. Pankaj Bajaj, Mr. Ranjit Khattar and Mr. Ashish Jain as the Members. Other details about the Committee are disclosed in the Corporate Governance Report forming part of this Annual Report.

e) Related Party Transactions

All related party transactions were placed before the Audit Committee for approval and are negotiated on arms-length basis and are in the ordinary course of business. Therefore,

the provisions of Section 188(1) of the Companies Act, 2013 are duly complied with. Disclosure as required under Section 134(3)(h) read with Rule 8(2) of the Companies(Accounts) Rules, 2014 are given in "Annexure-E" in Form AOC-2 as specified in Companies Act, 2013. Kindly refer the financial statements for the transactions with related parties entered during the year under review.

None of the transactions with any of related parties were in conflict with the Companys interest. Suitable disclosure as required by the Accounting Standards has been made in the notes to the financial statements.

f) Particulars of Loans, Guarantees and Investments

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Act are given in the notes to Financial Statements forming a part of this annual report.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There were no significant and material orders passed by the Regulators or Courts, which would impact the going concern status of the Company and its future operations.

INTERNAL FINANCIAL CONTROL

The Company has an internal control system commensurate with size, scale and complexity of its operations. A detailed note is given under Management Discussion and Analysis Report.

VIGIL MECHANISM

Fraud-free and corruption-free work culture has been the core of the Company functioning. In view of the potential risk of fraud and corruption due to rapid growth and geographical spread of operations, the company has put even greater emphasis to address this risk.

To meet this objective, the Company has established sufficient Vigil Mechanism for the Directors and employees of the Company in compliance of the provisions of Section 177(9) of the Companies Act, 2013.

The Vigil Mechanism Policy has been shared with all the concerned and has also been placed on the website of the Company namely www.eldecogroup.com

DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

Sexual Harassment Committee ("Committee") has been set up to redress the complaints regarding sexual harassment and adequate system for Prevention of Sexual Harassment of Women at Workplace. There were no complaint received during the financial year 2018-19 and hence no complaint was outstanding as on March 31, 2019 for redressal.

MATERIAL SUBSIDIARY

During the year under review, Omni Farms Private Limited, a subsidiary of the Company became a material subsidiary of the Company under Regulation 24 of the Listing Regulations and accordingly one Independent Director of the Company was appointed on the Board of Omni Farms Private Limited.

COMPLIANCE WITH SECRETARIAL STANDARDS

During the period under review, the Board confirms that, the Company has complied with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI) as amended from time to time.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

Pursuant to Section 134(3)(m) of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 are given as under:

1. Conservation of Energy: Your Company is conscious about energy consumption and environmental issues related with it. It is continuously making sincere efforts towards conservation of energy and optimizing its usage in all aspects of operations.

2. Technology Absorption: The Company is taking advantage of the latest developments and advancements in the Construction Industry. The Company is using indigenous technology which is well established in the Country and no foreign technology/ know how was purchased. The Company has not incurred any R & D expenditure during the year.

3. Export Activities: There was no export activity in the Company during the year under review. The company is not planning any export in the near future, as well.

4. Foreign Exchange Earnings and Outgo: There was no Foreign Exchange Earning and Outgo during the year under review.

LISTING

The equity shares of the Company are presently listed at Bombay Stock Exchange Limited. The Company has already paid listing fees of Bombay Stock Exchange for the financial year 2019-2020.

ACKNOWLEDGEMENT

Your Directors take this opportunity to place on record their sincere appreciation for the co-operation and assistance the Company has received from the Bankers and various Government Departments. The Board also places on record its appreciation of the devoted services of the employees; support and co-operation extended by the valued business associates and the continuous patronage of the customers of the Company.

For and on behalf of the Board
Eldeco Housing and Industries Limited
Pankaj Bajaj
Date: August 2, 2019 Chairman cum Managing Director
Place: New Delhi DIN:00024735