ETT Ltd Management Discussions

Industry Structure & Developments

The real estate industry has always been a dominant player and has contributed greatly to the country’s economic prosperity. It is one of the most globally recognized sectors. It comprises of four sub-sectors - housing, retail, hospitality and commercial. It creates millions of direct and indirect employment opportunities and supports the country’s development. The growth of this sector is well complemented by the growth of the corporate sector and the demand for office space as well as urban and semi-urban accommodations.

ETT Limited is a Public Listed Company, incorporated and domiciled in India and has its registered office in New Delhi. The equity shares of the Company are listed at BSE Limited. The Company is primarily engaged in the business of development and management of Software Technology Centers, Multimedia Houses, Information Technology Parks and other related activities. The Company is promoted by professionals having extensive experience in property development and infrastructure projects in North India. The Company has grown into a multi-dimensional organization whilst excelling in the field of Real Estate Development and providing intelligent and environment friendly Office Complexes and IT/ITES Parks.

The business activities of the Company rest on the principles of high quality construction technology and highest degree of customer satisfaction. Apart from construction excellence, the Company offers design elegance in all its real estate projects. The Company pride itself in fostering innovative thinking and keeping itself attuned to the potential changes that the future holds. The Company with its contemporary approach, keenness to always strategize for achieving better results and reaching new heights with openness and clear focus in adopting latest technology creates its projects as the most exciting initiative for global Information and Communication Technology (ICT) Industry.

There is tremendous demand for contemporary space which must be equipped with modern infrastructure and latest facilities of space management and National Capital Region (NCR) offers excellent & sufficient housing options, reputed schools, super speciality hospitals, shopping malls, multiplex cinema, golf club, connectivity through road and metro train, etc. for the people who come from different places to take up employment in the IT industry.

The Company’s projects keep in view current requirements of major corporates in terms of quality construction, state of art facilities, large working floor plates and the best in class maintenance and service standards with respect to safety and security. The Company always believes and strives to provide environment friendly and energy efficient office spaces in its IT Parks. It is very essential to ensure that MNC’s and other end users occupying the premises, feel comfortable while operating from these IT Parks.

It is expected that the real estate sector will incur more non-resident Indian (NRI) investment, both in the short term and the long term. Retail, hospitality, and commercial real estate are also growing significantly, providing the much-needed infrastructure for Indias growing needs.

While the management of the Company is confident of creating and exploiting the opportunities, it also finds the following challenges:

Unanticipated delays in project approvals;

Availability of accomplished and trained labour force; Increased cost of manpower;

Rising cost of construction due to increase in commodity prices; and Over regulated environment

The Company is committed to enhance transparency and establish standards for India’s real estate industry while safeguarding the interests of the shareholding community. The Company will continue to maintain the highest standards of professionalism, ethics, quality and customer service while meeting its vision of continuing growth by leading National and International Standards, in harmony with the environment, ensuring customer delight, business associates trust and social responsibility.

The acquisition of land and development rights needs substantial capital outflow. Inadequate funding resources and high interest costs may impact regular business and operations. The Company has always tried to build sufficient reserves resulting out of operating cash flows to take advantage of any land acquisition or development opportunity.

The Internal Control Systems and procedure are adequate and commensurate with the size of the Company. The system focuses on optimum utilization of resources and adequate protection of Company’s assets. These business control procedures ensure efficient use and protection of the resources and compliance of laws and regulations. The internal control is designed to ensure that financial and other records are reliable for preparing financial information and for maintaining accountability of assets. The Company has continued its efforts to align all its processes and controls with global best practices in these areas as well.

The financial statements have been prepared in compliance with the requirements of the Companies Act, 2013 and as per Indian Accounting Standards (IND AS) for the year ended March 31, 2024.

Total Income and Operating Profit (Loss) for the year under review amounted to Rs. 274.20 Lakh and Rs. 235.55 Lakh respectively as compared to Rs. 280.29 Lakh and Rs. 184.09 Lakh, in the previous financial year.

The Profit (Loss) before Tax and Profit (Loss) after Tax for the year under review amounted to Rs. 235.55 Lakh and Rs. 173.49 Lakh respectively as compared to Rs. 995.30 Lakh and Rs. 850.25 Lakh, in the previous financial year.

In the current economic scenario, effective Human Resource Management has become an area of concern. The Company recognizes the importance and contribution of its human resources for its growth and development and constantly endeavors to nurture and groom its people.

There are cordial relations between the management and the employees. The Company believes in enhancing the competencies of employees to create a high performing and innovative organization.

This management discussion and analysis contain forward looking statements that reflects your Company’s current views with respect to future events and financial performance.

The actual results may differ materially from those anticipated in the forward looking statements as a result of many factors.