Victoria Mills Ltd Management Discussions

BUSINESS OVERVIEW

The Company constructs luxury villas in Alibaug. Alibaug continues to be favourite second home destination for people living in Mumbai. The Company remains committed to timely completion and delivery of projects We have bought land/s for our new project and we have started construction on four independent villas.

The companys business focus is on designing and developing high-end premium residential and leisure properties. The company has carved a niche for itself in the luxury segment by differentiating itself by building ready to move in Luxury Villas. We feel that the demand in remain strong given the recent trans harbour link, RORO facility and the proposed bridge to Rewas.

The Company has proper and adequate systems of internal controls. Regular internal audits and checks are carried out to ensure that the responsibilities are executed effectively and that adequate systems are in place.

The turnover and other income of the Company during the year is 2995.00 Lakhs as against 1700.00 Lakhs in the previous year. The Profit/ Loss from operations before depreciation and tax is 110.01 Lakhs as against 135.04 Lakhs in the previous year. The Net Profit/Loss after depreciation, taxation is 55.43 Lakhs against 72.83 Lakhs in the previous year. This was discussed at the meeting.

Statements made herein describing the Companys expectations or predictions are forward-looking statements. The actual results may differ from those expected or predicted. Prime factors that may make a difference to the Companys performance include market conditions, input costs, government regulations, economic developments.