manor estates industries ltd Management discussions

1. FORWARD-LOOKING STATEMENTS

The Company has now received TS RERA registration for its project - FOREST EDGE - THE KALLAKAL VILLAS. Sales could begin during the current financial year.

2. OPPORTUNITIES & THREATS:

In 2022, the Indian real estate market experienced a resurgence across all the sectors - residential, office and retail for the first time in a decade.

Private equity investment in the Indian real estate market reached $4.9 billion in 2022 showing a 20% increase year over year.

Peripheral areas of major cities emerged as a new hub for residential development with leading developers acquiring land away from the city. Globally many buyers seek destinations 2 to 3 hours by car from their main city base for their second homes. Shorter travel times between two homes enables owners to use their second home properties more frequently.

These lifestyle and economic trends auger very well for your company and for its current project - FOREST EDGE - THE KALLAKAL VILLAS.

Your directors aim to achieve maximum value addition by astute use of the companys resources. However, geopolitics can alter any situation and crumple every pie in the oven.

3. OUTLOOK:

Your company has been following the philosophy of providing the highest quality products and services at the lowest possible prices. Your companys philosophy to provide high class quality products i.e. full value for money, to consumers would greatly benefit in the long run. Your company will continue to follow this philosophy in the new operations too.

4. RISKS AND CONCERNS:

The company has no secured or unsecured loans. The company does not foresee any area of risk or concern. However, the outcome of the real estate activities depends on the continued robust growth of this sector.

5. INTERNAL CONTROL SYSTEMS:

The company has proper and adequate systems of internal controls in order to ensure that all assets are safeguarded against loss from unauthorized use or disposition and that all transactions are authorized recorded and reported correctly. An Audit Committee headed by a non-executive independent director is in place to review various areas of the control systems.

6. DISCUSSION OF FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE:

The details of the financial performance of the Company are appearing in the Balance Sheet, Profit & Loss Account and other financial statements etc. appearing separately. Highlights for the year 2022-23 are as under:

Particulars	Amount (Rs. in lakhs)
Gross income for the year 2022 - 2023	2.87
Provision for taxation	-
Profit after tax/ (Loss)	(60.01)
Paid up equity share capital as on 31st March, 2022	8,23,50,000

The financial performance of the Company has been explained in the Directors Report appearing separately.

7. HUMAN RESOURCES:

At present the company has no employees other than the key managerial personnel.

8. CAUTIONARY STATEMENT:

Certain statements in the Management Discussion and Analysis describing the companys views about the industry, expectations/predictions, objectives etc, may be forward looking within the meaning of applicable laws and regulations. Actual results may differ materially from those expressed in the statement. Companys operations may inter-alia affect with the supply and demand situations, input prices and their availability, changes in Government regulations, tax laws and other factors such as Industrial relations and economic developments etc. Investors should bear the above in mind.

9. INDUSTRY STRUCTURE AND DEVELOPMENTS:

The real estate structure is the most recognised sector, globally. It comprises: housing, hospitality, commercial and retail. The growth of this sector is complemented by the change in the corporate environment and the demand for office spaces as well as urban and semi-urban accommodations. The real estate sector is dominated by the housing segment which makes approximately 80% of the real estate sector.