"Our endeavor would be to bring the global best practices in our operations in
India particularly in the area of risk assessment, risk management and generating
competitive returns to stakeholders on a consistent basis"
Quintin E Primo III
I consider myself privileged to address you just after joining the Board of Directors
of your Company. At the outset, I would like to say that we are extremely happy that we
are working towards evolving a framework for tapping investment opportunities that the
Indian economy offers today in the realty space. No doubt the Indian economy is coming
through some tough economic conditions, as are several large leading economies in the
world. We are sanguine that these difficult conditions are transitory in nature and that
the fundamentals of the Indian economy will reassert themselves to offer - in the medium
to long term -attractive opportunities in several sectors, with housing being especially
compelling. Your Company has strong knowledge of the residential sector and its
participants, and I firmly believe that our recent strategic partnership will be to the
benefit of us all.
Our endeavor would be to bring the global best practices to our operations in India
particularly in the area of risk assessment, risk management and generating competitive
returns to stakeholders on a consistent basis. Returns are important because India is
today a capital-short economy with different sectors of the economy competing for
resources. Capital resources will ultimately be allocated no doubt on the basis of long
term requirements of the economy and its people, but also on the basis of relative
risk-adjusted returns. Resources for this purpose would not merely be local but also
The global market turmoil over the last five years has underscored the importance of
the fundamental approaches to success of any venture relative to the gradual and
consistent roll-out of strategy, integrity in operations from the stakeholders and
transparency in all our endeavors, and robust business processes. My goal would be to
align the organinsation with international best practices, helping to prepare it to
successfully operate in a globally competitive environment in a cross-cultural milieu.
Recent events in developed and developing economies have presented unprecedented
challenges to organisations considering access to an international capital and investor
base. India as an investment destination needs to be promoted aggressively among those
select investors that possess a shared vision of and belief in Indias growth story.
The emerging economies have learnt in the last two years that they cannot rest on their
laurels. Moreover, they will need to continuously update their approaches in tune with
global investor requirements and their own emerging complex needs. Your Companys
management is going to work in strategic partnership towards the direction of tapping
international markets to capitalize on existing and potential real estate investment
opportunities in India as well as to continue to develop the MSME vertical by leveraging
opportunities available domestically.
Your Board of Directors will work unstinted to realize these and other opportunities
for the benefit of your Company and its stakeholders. We thus look forward to your
continued support and trust in these efforts and thank you.
Quintin E Primo III