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Ashiana Housing Ltd.

BSE: 523716 Sector: Infrastructure
NSE: ASHIANA ISIN Code: INE365D01021
BSE LIVE 15:26 | 26 Sep 167.85 3.55
(2.16%)
OPEN

162.30

HIGH

169.65

LOW

160.80

NSE 15:15 | 26 Sep 166.60 3.20
(1.96%)
OPEN

164.05

HIGH

170.00

LOW

164.05

OPEN 162.30
PREVIOUS CLOSE 164.30
VOLUME 2548
52-Week high 250.35
52-Week low 115.80
P/E 21.55
Mkt Cap.(Rs cr) 1,718
Buy Price 166.65
Buy Qty 20.00
Sell Price 168.70
Sell Qty 50.00
OPEN 162.30
CLOSE 164.30
VOLUME 2548
52-Week high 250.35
52-Week low 115.80
P/E 21.55
Mkt Cap.(Rs cr) 1,718
Buy Price 166.65
Buy Qty 20.00
Sell Price 168.70
Sell Qty 50.00

Ashiana Housing Ltd. (ASHIANA) - Chairman Speech

Company chairman speech

RERA has been introduced from May 2017 which will be a big game changer for theindustry. It will enhance customer confidence in the industry and also eliminate malpractices and make builders more accountable to customers.

Dear Shareholders

Recent times have been eventful for Real Estate industry with passage of landmarklegislation RERA (Real Estate Regulatory Act 2016) introduction of GST and severalinitiatives from the Government. At the same time last year was another challenging yearfor the real estate industry. Our sales were not as per expectations.

However we delivered our commitment on execution front by clocking an EAC (EquivalentArea Constructed) of 17.39 Lakhs sq. ft. (AHL: 14.01 Lakhs sq. ft. and Partnerships: 3.39Lakhs square feet). We also delivered 17.64 sq. ft. (AHL: 11.68 Lakhs sq. ft. andPartnerships: 5.97 Lakhs sq. ft.) 1456 units resulting in a healthy top line of Rs.397.02Crs and a bottom line of Rs. 72.77 Crs.

Demonetisation further slowed down the industry. While the impact is significantlyreduced we expect its affect to wane away completely in FY18. With lower collections onaccount of lower sales cash flow continued to be under pressure second year in a row.

We continued to evolve on building fundamental changes to our processes. ‘Sellingto Helping' was take up as a theme last year. Under this theme we started taking more ofa consultative approach to sales. Rather than hard selling sales staff was trained tounderstand the needs of the customer and facilitate decision making for the customers.There were numerous stories in terms of our sales staff imbibing this changed approach andwe celebrated them.

In terms of individual markets slow down was witnessed across markets. Jaipur wasrelatively better than Bhiwadi. After completing one year of our foray in Chennai resultshave been better than our expectations. We continue to consider Chennai as a promisingmarket for future.

In recent times Government has given lot of impetus on Real Estate Sector by grantingit Infrastructure status increased affordability of houses by introduction of PradhanMantri Awas Yojana (PMAY) and granting tax benefits in the Union budget. Our belief isthat all these will boost the demand for housing in future.

RERA has been introduced from May 2017 which will be a big game changer for theindustry. It will enhance customer confidence in the industry and also eliminate malpractices and make builders more accountable to customers.

The other key legislative change will be the roll out of GST which will facilitate easeof doing business and promote economic growth in terms of reduced litigations and removalof cascading effect of taxes.

Last year we focused on streamlining our L&D (Learning and Development) processesand started a pilot with sales.

We continued to fulfil our social responsibility commitments in terms of skilltraining facilities and infrastructure up gradation of schools computer based learningand environment sustainability.

We received several awards during the year which included Bhamashah Award from Govt. ofRajasthan for educational works for 2016 1st CREDAI CSR Award 2016-17 under the categoryof education (establishing schools educational institutions and creating educationalfacilities) and also 1st CIDC Vishwakarma Awards 2016 under the category of ConstructionSkill Development

I also take this opportunity to thank our motivated and caring employees for living thecore purpose of Ashiana and the board members for their guidance and support.

On behalf of the entire Ashiana family including our valuable business partners Iwould like to sincerely thank you for your support during the year. I look forward tomeeting you at the shareholders' meeting.

In these challenging times reinforced by our core values we continue to build on ourstrengths adapt to the changing face of the industry and hope for improved sentiments inthe sector.

With best wishes

Vishal Gupta

(Managing Director)