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Hubtown Ltd.

BSE: 532799 Sector: Infrastructure
NSE: HUBTOWN ISIN Code: INE703H01016
BSE LIVE 15:40 | 20 Sep 113.80 0.35
(0.31%)
OPEN

114.35

HIGH

116.50

LOW

113.60

NSE 15:45 | 20 Sep 113.90 0.55
(0.49%)
OPEN

114.00

HIGH

116.45

LOW

113.10

OPEN 114.35
PREVIOUS CLOSE 113.45
VOLUME 55378
52-Week high 173.00
52-Week low 81.55
P/E 103.45
Mkt Cap.(Rs cr) 828
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 114.35
CLOSE 113.45
VOLUME 55378
52-Week high 173.00
52-Week low 81.55
P/E 103.45
Mkt Cap.(Rs cr) 828
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Hubtown Ltd. (HUBTOWN) - Chairman Speech

Company chairman speech

AKRUTI CITY LIMITED ANNUAL REPORT 2007-2008 CHAIRMAN'S REPORT Dear Shareholders, It is gives me great pleasure in presenting the Twentieth Annual Report for the year 2007-2008 in which your Company recorded commendable performance both in terms of revenue and profits. The salient features are. * Total income of Rs. 47378.83 lacs against Rs. 18652.65 lacs in the previous year * Operating Profit of Rs. 39703.91 lacs against Rs.11104.72 lacs in the previous year * Net profit of Rs. 29514.33 lacs against Rs. 7547.78 lacs in the previous year Against a backdrop of the economic slowdown, shareholders globally are worried about the return on their investments. They are growing 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 Akruti have always focused on processes and systems to ensure accountability, transparency and quality. The financial year 2007-2008 has been a landmark year in this respect. Your Company has successfully set up new processes and systems in various departments across the company to create a more efficient, productive and responsible organisation. While the country's economy is on a strong growth path, inflation is threatening to slow down the overall growth rate. 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. Your Company has, in the short term, focused more on execution of projects rather than building land bank. All the projects of your Company are on schedule and steps have been initiated for completion well ahead of schedule. The coming few months will see your Company strengthen its presence in Gujarat and Karnataka. We have also received clearance certificates for most projects, and your Company's growth prospects are bright. The medium term picture looks stable. In the medium term we expect land to be available at realistic prices which would enable the Company to build a larger, reasonably priced land bank. To ensure that Akruti stays on its growth path, we are investing in intellectual and human capital and constantly upgrading our systems and processes. Simultaneously, we are also identifying and foraying into a newer geographies and growth areas to give stable and consistent returns on investments. To sum it up, I would say that 2007-2008 has been an important year which has seen Akruti embark upon several new ventures, enter into new territories and acquire new customers. The current fiscal year is full of challenges - runaway inflation s spiralling global crude prices, higher interest rates, liquidity crunch and falling demand. Let us take the challenge and work together to take the Company to newer heights. Our efforts to conduct our business as cost effectively as possible will continue, and I look forward to another year of good performance. I take this opportunity to express my gratitude to various stakeholders for their wholehearted co-operation and ' look forward to your continued support and patronage in the future. Best Wishes, Hemant M. Shah Executive Chairman