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Hazoor Multi Projects Ltd.

BSE: 532467 Sector: Infrastructure
NSE: N.A. ISIN Code: INE550F01023
BSE LIVE 13:02 | 21 Sep 0.51 -0.02
(-3.77%)
OPEN

0.51

HIGH

0.51

LOW

0.51

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.51
PREVIOUS CLOSE 0.53
VOLUME 600
52-Week high 1.16
52-Week low 0.51
P/E 25.50
Mkt Cap.(Rs cr) 1
Buy Price 0.51
Buy Qty 1190.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.51
CLOSE 0.53
VOLUME 600
52-Week high 1.16
52-Week low 0.51
P/E 25.50
Mkt Cap.(Rs cr) 1
Buy Price 0.51
Buy Qty 1190.00
Sell Price 0.00
Sell Qty 0.00

Hazoor Multi Projects Ltd. (HAZMULTIPROJ) - Chairman Speech

Company chairman speech

HAZOOR MULTI PROJECTS LIMITED ANNUAL REPORT 2007-2008 CHAIRMAN'S REPORT Dear Shareholders, I hereby present the Annual Report for the year 2007-2008. The real estate industry in India has experienced major growth in the previous year, with residential sector seeing the maximum rise. The reasons are many, including growing number of nuclear families, increase in income, and easy availability of loans. On the other hand .this year under report proved to be a challenging one for the economy in general and a few sectors like real estate in particular. The world is in throes of an economic slowdown, yet we are happy to see India swim against the tide and remain one of the few growth regions in the world. This phase presents both challenges and opportunities, and I am sure that, we will over come on these difficulties and successfully tackle the challenges. You are aware, the Country's economy is going through a difficult phase & the real estate industry is also experiencing a correction. I, however, envisage this as a mere temporary blip. I am absolutely confident that with so many positive growth factors in real estate acting in favour, the emphasis on infrastructure development activity will remain strong. Your Company has, in the short term, focused more on execution of projects rather than building land bank. The Residential complex project of your Company at Pune is on schedule and steps have been initiated for completion well within the schedule. Your company has decided not to avail the Term Loan sanctioned by Vijaya bank, for the project near Aambey Valley after taking into consideration the economic slowdown and uncertain economic conditions and have withheld the project development, of Hazoor Hill Grand, till the economic conditions stabilise in the country. All over the world against a backdrop of the economic slowdown shareholders globally are worried about the return on their investments. They are more concerned about issues like governance and transparency. It is during such tough times when companies with a culture of accountability and transparency are valued. We at Hazoor have always focused on processes and systems to ensure accountability transparency and quality. Your Company has successfully set up new processes and systems in various departments across the company to create a more efficient, productive and responsible organization. While the country's economy was on a strong growth path in the previous year, inflation is threatening to slow down the overall growth rate in the year under report. A tighter monetary policy and higher interest rates present a challenge to India Inc., including the realty sector, to complete projects within stipulated costs and time. I salute our investors for their support and trust reposed in us. We celebrate our team, who always manages to exceed all expectations. We honour our commitment to deliver quality real estate and continue to achieve higher levels of excellence for creating value for all stakeholders. With warm Regards, Yuvraj Karan Non Executive Chairman Place: Mumbai Date : 19th January, 2009