Stephanotis Finance Ltd Management Discussions.

VORA CONSTRUCTION LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS: (Amount in Rs.) Year ended Year ended 31/3/2008 31/3/2007 PARTICULARS: Net Sales/ Income from Operations 1,09,542 3,28,528 Other Income 22,566 19,623 Total Expenditure 1,03,009 79,199 Profit/(Loss) before Tax 29,099 2,68,952 Provision for Taxation (Fringe Benefits Tax) 10,000 31,000 Net Profit/(Loss) 19,099 2,37,952 PERFORMANCE: Income from Operations during the year was Rs. 1,09,542/- as compared to Rs. 3,28,528/- in the previous year. The country has seen a general boom in real estate, infrastructure, housing, finance & other construction activities and to take advantage of the same, the Board of Directors is considering to start some activities in these areas and suitable arrangement for funds to Conduct the said activities by way of increase in equities and /or borrowing is under consideration.