Giriraj Civil Developers Ltd Management Discussions.

1. Industry structure and development

Due to CoVID-19 outbreak, global economic growth continued to be slow. Falling global demand and slow down across developed and emerging market economics remained key concern. However, Indias economic indicator remained favourable.

2. Overview

The financial statements have been prepared in compliance with requirement of Companies

Act and guidelines issued by SEBI.

3. Outlook

Despite uncertainties in global economic Indias macroeconomic indicators remained favourable. This was due to fiscal consolidation, narrowing current account deficit, lower inflation, falling interest rate, forex reserves etc. The companys activities will have major emphasis on government contracts.

4. Opportunities and Threats

There are and always will be challenges, from outside & within. The company aims to address risk, opportunities & threats posed by its business environment strategically. The improved economic & investing activity may result in emergence of many opportunities, but these will have to be carefully evaluated in the long term interest of the company and its Shareholders.

5. Segment wise Reporting

During the year under review Company had only one segment viz Contractor.

6. Risk & Concerns:

Your company is in continues process of cost control and is taking cost reduction measures. We take all necessary steps to identify measures & manage risk effectively.

7. Internal Control System:

The company maintains an adequate and effective internal control & risk mitigation system commensurate with its size & nature of Business. The observations of the audit committee were taken into consideration.

8. Financial Performance:

The net income from operation decreased to Rs. 24.44 Crore from Rs. 43.83 Crore in the last year and the company incurred a profit of Rs. 1.03 Crore as against profit of Rs. 2.30 Crore in the last year.

9. Human resources management:

Relation with the employees continued to remain cordial during the year. Training is imparted as per the requirement of the job.

10. Cautionary statement:

Statement in the Management Discussion and Analysis and Statement forming part of Directors Report may contain forward looking & progressive statements within the meaning of applicable security laws & regulations. Actual results may vary from those expressed or implied depending upon economic condition, Government policies & other incidental factors.

For and on behalf of the Board

Krushang Shah Whole Time Director

Mahesh Shah Managing Director

Place: Mumbai Date: 30.05.2020