joy realty ltd Management discussions

REAL ESTATE AND DEVELOPER

The management has vision, experience and resources to promote real estate business aggressively. Your Company focuses to provide a meaningful work with a measureable outlook & maximum impact on the society.

ECONOMIC OVERVIEW

The fiscal year 2022-2023 witnessed a dynamic economic landscape characterized by recovery from the pandemic-induced challenges. The Indian economy showcased signs of growth, albeit with certain sectors recuperating at a faster pace than others. This period marked a critical phase for Joy Realty Limited as we navigated through these shifts in the macroeconomic environment.

FUTURE PROSPECTS

The Real Estate and construction sector plays a crucial role in overall development of Indias core infrastructure. India is the second largest po pulated country in the world which means that there is huge potential in the real estate sector in India. Overall, the long-term view for the Indian real estate sector is positive since its fundamental demand drivers - increasing urbanization, favorable demographics, growth of the services sector and rising incomes are still intact. The long term demand projection for real estate is certainly healthy given the housing shortage. In the short term, the demand for optimally priced and quality real estate is expected to grow.

OPPORTUNITIES AND THREATS

> Opportunities

There are good opportunities available in the real estate market in India since price of property are in south trend. The Government has been pragmatic and supportive in its approach in reducing interest rate on housing and providing finance through bank for property development business project to projects. We are hopeful for demand of commercial and residential property in near future.

> Threats

The slowdown of consumer demands and reduction of real estate prices, the credit squeeze by the Reserve Bank of India to Real Estate Development Company is likely to slow down the momentum of growth on capital gearing of the company.

SEGMENT WISE PERFORMANCE

The company operates in only single segment. Hence segment wise performance is not applicable.

RISKS AND CONCERNS

Your company has appropriate risk management systems in place for identification and assessment of risks, measures to mitigate them, and mechanisms for their proper and timely monitoring and reporting.

INTERNAL CONTROL SYSTEMS

The Company has adequate internal control systems, commensurate with the size and nature of its business. Well documented policies, guidelines and procedures to monitor business and operational performance are supported by IT systems, all of which are aimed at ensuring business integrity and promoting operational efficiency.

HUMAN RESOURCES

At Joy Realty, we believe that our people and our "We Care" culture strengthen our processes and operations and are central to our continued success. We are committed to build and further enhance skills of our people and provide them with a safe, inclusive, caring and an unbiased environment. Our workplace culture fosters creativity, agility, innovation and meritocracy. We respect and are committed to uphold human rights of all our stakeholders - employees, subsidiaries, suppliers and other partners.

ENVIRONMENT PROTECTION, HEALTH AND SAFETY

Your Company is always committed to the health and safety of its employees. Your Company provides a clean, hygienic and conducive work environment to all employees. During the pandemic time your Company has doubled its efforts to ensure health and safety of its employees. All offices and sites go through regular sanitation, social distancing norms are followed, sanitizers are placed at various locations, visitors entries are minimized, wearing masks is mandatory.

SUSTAINABILITY INITIATIVES

Joy Realty Limited remained dedicated to sustainable real estate practices. Our projects continued to adhere to green building norms, contributing to energy efficiency and reduced environmental impact. We also introduced eco-friendly features in our properties, resonating with the growing trend of environmentally conscious buyers.

CAUTIONARY STATEMENT

This management discussion and analysis contain forward looking statements that reflects your Companys 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.

Place: Mumbai	For and on Behalf of the Board
Date: 08/09/2023
	Sd/-
Registered Office:	Bhavin Soni
239/8, Kothari House,	Managing Director
L.J Road, Shivaji Park, Mumbai - 400016.	DIN: 00132135