CHAIRMAN`S LETTER
TO THE SHAREHOLDERS
Dear Shareholders,
I take pleasure in presenting the 24th Annual Report of the Company.
During the year gone by, higher input and interest costs resulting from continuing high
inflation had an adverse impact on profits, but I am glad to report that your Company has
been able to sustain operational stability.
BUSINESS DEVELOPMENT:
Housing is one of the basic requirements for human survival. For a shelter less person,
possession of a house brings about a profound social change in his existence, endowing him
with an identity, thus integrating him with his immediate social milieu.
The typical demographic setting of India particularly gets highlighted when we look
into the trend over the years. A steep rise in population is a major reason for the
increase in demand of residential units, affordable homes and basic infrastructural
facilities. India is the second most populous country in the world and at this point the
foremost interest is developing the infrastructural facilities of lodging the primary need
of housing for the population. Most of the economist across the world opines that a sharp
increase in the real estate and property prices in India in the coming years. Our
consistent efforts therefore have been to make first hand insight into the pressing
problems of housing development.
The company has taken up project for "Affordable Housing under PPP model" with
Govt. of Rajasthan at Jhunjhunu (Rajasthan) for construction of 1500 Flats on 52% Land for
EWS/LIG/ MIG beneficiaries to be allotted by Govt. directly. The company will construct
same no. of Flats on balance land 48% to be marketed by company. The total built up area
will be are 14 lac Sq. Ft to be completed in 3 years. The Govt. of Rajasthan has already
invited application from 2500 beneficiary in September 2011. The project was delayed by
Govt. due to some problems by Govt.
Now application for land use convection is in process & likely to completed by Mid
October 2012 & construction will commence by mid January 2013.
Installation of Slab/Block Manufacturing
Due to MNAREGA scheme high dev in Bihar, Chhattisgarh, getting laborer for constriction
is difficult day by day. To overcome these problems the company is installing the Prestress
Precast Hollow Core slab plant by German Technology. The plant is fully automatic
require 7 operators yielding 7000 Sq. Ft. Slab/day to be used next day due to steam
curing.
Similarly Company is planning to install Automatic concrete Block making plant capacity
70,000 Blocks per day with German Machinery.
These two major raw materials will be used (75%) for captive use will result in
improvement of bottom line along with quality products & time saving in construction
period.
ORGANISATIONAL DEVELOPMENT:
Organizational development depends on Human resources and its Management because they
are the most valued assets and the Company believes that people do make a lot of
difference as human resources individually and collectively contribute to the achievement
of the objectives of the business. The Company employs people, develops their capacities,
skills, attitude, utilizing, maintaining and compensating their services in time with the
job and organizational requirement. Therefore the Company continues to give prime
attention to them and build them as demand for housing activity is growing exponentially
and to meet the new challenges.
The Company’s major focus continues to be "Dedicated to slum development and
service to poor class people and its Endeavors to create and nurture a long lasting
relationship during the entire period of our association.
ACKNOWLEDGEMENTS:
Your Company remains committed to the underlying values of providing exemplary customer
service, achieving business objectives with social responsibility and enhancing
stakeholder value.
I look forward to your continued support in the year ahead and wish you the very best.
Thanking You,
L.J.RATHI
(CHAIRMAN & MANAGING DIRECTOR)
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