Today's Top Gainer
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INDUSTRY STRUCTURE AND DEVELOPMENTS
The commercial real estate sector stayed relatively weak in 2017-18. Reduction in new commercial and luxury home developments, decline in leasing activity, lack of appreciation in capital values, compression in yields and lease rentals across major Indian cities were a few factors that impacted overall performance.
OPPORTUNITIES AND THREATS
The companys business focuses is on designing and developing high-end and 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.
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.
We hope to sell the two ready villas in FY-2018/19. We expect FY-2018 to be the start of growth year for the Indian economy as a whole in view of various measures being taken by the government. The government is starting Ro-Ro Services from Bombay to Alibaug this year which will enable Connectivity by boat even in the Monsoons. This is likely to increase interest in Alibaug as a second home destination. We plan to start construction of two new villas this year.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
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.
FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE
The turnover and other income of the Company during the year is Rs.10,05,21,673/- as against Rs.6,33,77,765/- in the previous year. The profit from operations before depreciation and tax is Rs.1,45,57,940/- as against Rs.1,04,77,874/- in the previous year. The net profit after depreciation, taxation is Rs. 1,07,11,396 /- as against Rs. 70,71,525/-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, govt. regulations, economic developments.
On behalf of the Board of Directors
Place: Mumbai Date: May 02, 2018
Rashmikant Shah Chairman