Excel Realty N Infra Ltd Management Discussions.


The report contains forward-looking statements, identified by words like ‘plans, ‘expects, ‘will and so on. All statements that address expectations or projections about the future are forward-looking statements. Since these are based on certain assumptions and expectations of future events, the Company cannot guarantee that these are accurate or will be realized. The Companys actual results, performance or achievements could thus differ from those projected in any forward-looking statements.

The Company assumes no responsibility to publicly amend, modify or revise any such statements on the basis of subsequent developments, information or events.


Excel Realty N Infra Limited (Formerly known as Excel Infoways Limited) (Excel) has been continuously striving to achieve growth and success in operating in the multi business segments. It operates in 3 segments i.e. Infrastructure, BPO / IT enabled services and general trading segment.

In past few years Indian Economy witnessed slowdown across various sectors. Both domestic and global economic situations have been very volatile and challenging. The government has announced slew of policy measures in past years to revive stranded projects and bring in fresh investment in these sectors. These measures are not just fixes but also ensure that the structural issues that are plaguing these sectors are eliminated. With such reforms the Company is seeing immense opportunities in its core competency areas.



The IT and BPO segment is engaged in the business of providing customer care services and handling business relation of client on their behalf by maintaining relation with their consumer and also providing them services by assisting them in managing there work flow and updating their record. We provide inbound generated under this segment is Rs. 74172.84 (‘000) as compared to previous year of Rs. 19086.57 (‘000)

General Trading

The Company is engaged in the business of general trading. The Company did exceedingly well in this segment. The revenue generated under this segment is Rs. 129691.31 (‘000) as compared to previous year of Rs. 287127.65 (‘000).

Infrastructure Activity

The Company faced tremendous challenges in the Infrastructure sector. It generated nil revenue due to economic challenges faced in these sectors


The prime motive of the Company has been profitable growth and to achieve the same, the Company has been fast re-shaping its process aligning its people to the vision of creating long term shareholder value. The Management believes that there is significant potential for growth for the Company being multi segment Company. The Management expects growth in all three sectors in long run as the business climate has turned positive and will be able to acquire and expand more business in future.


As India awaits policy reforms to pick up speed, the Company firmly believes that there will rise in demand and growth due to various implementations. The Company operates in multi segment business therefore the demand should remain strong in the medium to long term.

The Company understands in order to remain competitive and to continue being a trusted partner to our customer we need to expand our scope of services and capabilities. The Company believes there will be strong growth and increase demand in the general trading segment. The Company expects better results in this sector due increasing rising income and growth of service sector which would prove a boon for the trading sector. The Companys long term view on this Segment is positive.

The Company faced lot of economic challenges in Infrastructure sector. Due current uncertain economic conditions and regulatory challenges the Company did not generate any revenue from this sector.

The Company is also engaged in IT/ BPO activity. In this segment the Company is engaged in the business of providing customer care services and handling the business relations of clients on their behalf by maintaining relation with their consumers


Economic conditions

Excel operates in different segments and hence is exposed to challenges to different economic conditions, trade policies, local laws, political environment and also includes challenges like timely completion of projects and to maintain a smooth balance between returns and risk. In addition to this, there are risks associated to operating in different geographies in terms of terrain, sociopolitical and engineering factors.


Excel is in an industry where attrition is one of the major areas of concern. One of the major challenge we face is high attrition. Our constant endeavor is to continue adding new values and services to our clients, stakeholders, etc and thereby contribute to the overall growth.

Foreign currency risk

The nature of operations exposes the Company to multiple currencies, fluctuations in exchange rates could affect Companys performance. Prices get reviewed and revised in the event of significant currency movements. The exchange rates are volatile and subjected to economic conditions

Cost of people

The major risk is to retain existing talent and attract new talent. The need to strengthen and improve leadership pipeline is an important priority to keep up with the fast paced growth of the Company.

Regulatory environment

The Company is exposed to risk attached to various statutes and regulations. The Company is mitigating these risks through regular review of legal compliance carried out through internal and external compliance audits. Our ability to manage, evolve and improve our operational, financial and internal controls across the organization and to integrate our widespread operations and derive benefits from our operations is key to our growth strategy and results of operations.

Collection of receivables from our clients

There are usually no delays associated with the collection of receivables from our clients.

Our operations involve significant working capital requirements and prompt collection of receivables liquidity and results of operations. However, there can be no assurance that any such development would not adversely affect our business.


This year we generated nil revenue from infrastructure segment The Management is expects growth form this sector in long run as the business climate has turned positive and will be able to acquire more business.

During the year under review, the Companys revenue from BPO/IT was of Rs. 74172.84 (‘000) (previous year Rs. 19086.57 (‘000)). The profits from this segment to Rs. 55025.00 (previous year Rs. 5750.00).

The income from this general trading segment was Rs. 129691.31 (‘000) (previous year Rs. 287127.65 (‘000)) and registered profit of Rs. 2759.00 (‘000) (previous year Rs. 13754.00 (‘000)). Our income from other sources comprises of interest income from bank and other non-operating income.


The Company has defined risk policy and risk management framework for all units, functional departments and project sites.

This helps identifying, assessing and mitigating the risk that could impact the Companys performance and achievement of its business objectives. The risks are reviewed on an ongoing basis by respective business heads and functional heads across the organization. The Company closely monitors the Governments policy measures to identify and mitigate any possible business risks.


The Company has an adequate system of internal financial control which is aimed at achieving efficiencyin utilization of resources and compliance with all applicable laws and regulations. financialcontrol mechanism The internal comprises a well-defined organization structure, predetermined authority levels with segregation of duty, risk assessment and management framework. Professional Internal Audit firm review the system and process of the Company and this is helpful in providing independent and professional opinion on the internal control system. The audit committee of the Board reviews the internal audit reports, adequacy of internal controls and risk management framework periodically.


In the dynamically changing business environment and marketplace realities, the skills, experience and engagement of employees are a major competitive advantage. The Company continuously identify and cultivate systems, processes and work environment that will foster critical skill development, improve overall employee experience and enhance employee engagement to propel our business with agility, ability and adaptability. Continuous innovation with business requirements and total commitment to the highest standards of corporate governance, business ethics, social responsibility, employee engagement, performance excellence and employee satisfaction have led to evolving of a work environment that foster ownership, empowerment and transparency.

The number of people employed as on March 31, 2018 are 28.

For and on behalf of the Board of Directors


Lakhmendra Khurana

Chairman and Managing Director

DIN: 00623015

Place: Mumbai

Date: May 30, 2018