Victoria Mills Ltd Management Discussions

BUSINESS OVERVIEW

The Company constructs luxury villas in Alibaug. Each villa has a different design. Alibaug continues to be favourite second home destination for people living in Mumbai. The Company remains committed to timely completion and delivery of projects, and now that the lock down has been lifted, will complete the ongoing projects We have bought land/s for our new projects and we have started construction on these lands during the year.Two Villas will be completed this year and we are just starting construction of four more villas (in phases)

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 properties in Alibag will be sought after even more by clients from Mumbai due to the recent Pandemic, close proximity of Alibag to Mumbai and proposed sea-link to Navi Mumbai Airport.

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 Rs. 1,700.00 lakhs as against Rs. 2,444.00 lakhs in the previous year. The

Profit/Loss from operations before depreciation and tax is Rs. Rs.135.04 lakhs as against Rs. 315.98 lakhs in the previousyear.TheNetProfit/

Loss after depreciation, taxation is 72.83 lakhs against Rs 233.97 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.