You are here » Home » Companies » Company Overview » MVL Ltd

MVL Ltd.

BSE: 532991 Sector: Infrastructure
NSE: MVL ISIN Code: INE744I01034
BSE 14:04 | 04 Sep Stock Is Not Traded.
NSE 15:18 | 07 Aug Stock Is Not Traded.
OPEN 0.52
PREVIOUS CLOSE 0.54
VOLUME 1
52-Week high 0.72
52-Week low 0.42
P/E
Mkt Cap.(Rs cr) 31
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.52
Sell Qty 908113.00
OPEN 0.52
CLOSE 0.54
VOLUME 1
52-Week high 0.72
52-Week low 0.42
P/E
Mkt Cap.(Rs cr) 31
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.52
Sell Qty 908113.00

MVL Ltd. (MVL) - Chairman Speech

Company chairman speech

MVL LIMITED ANNUAL REPORT 2008 CHAIRMAN'S REPORT Dear Shareholders, To embark on a journey of success one needs the tools of preparedness, foresight and strategy. These lead to the path of growth and high quality operation. Your company is based on firm belief that no matter how adverse the market conditions are, there is always an opportunity to excel if one identifies the requirement of the market. The year 2008 was a year of resilience. The Indian economy saw many positive indicators even as the global community battled the century's worst economic crisis. Though the beginning of the year witnessed a sharp decline in demand especially in the housing sector due to high costs and equally high interest rates, the government in tandem with RBI gave the industry a shot in the arm by announcing sector-specific relief and stimulus packages. Many of the packages were directly focused on the growing lower and lower-middle income groups, largely ignored so far by all the major developers who were emphasizing on the higher end segment of the society by offering multi-crore high end products and ignoring to provide affordable solutions. The fiscal year 2008 was a momentous year for MVL Limited. It saw the launch of MVL IndiHomes, Bhiwadi, a project envisioned by the company back in the year 2007. We first propagated the idea of 'affordable housing' for the toiling millions through the country's prominent English mainline daily, The Times of India, in the year 2007, providing a business model catering to the lower segments with tow margins and high volumes which can fuel the future growth of the industry. The launch of this product has put forth the resilience of your company. The overwhelming response reposes our faith in our mission to be . one of the best managed companies with a high degree of social commitment to deliver projects, which not just deliver a superb financial performance but also improve the quality of life of millions by anticipating future and driving market forces than be driven by them. We are thus encouraged to launch MVL IndiHomes-II in Bhiwadi and at other locations, primarily III tier and IV tier-towns, shortly. The company envisages being a leader in affordable realty solutions in all the verticals. As 360-degree solution provider, MVL also launched MVL India Business Centre or IBC in Gurgaon. This 'affordable' IT Park targets the start-ups and growing domestic IT companies and offers good investment opportunities for even small investors. Further, the year also saw the launch and subsequent start of construction of MVL's maiden premium IT space project, MVL iPark. The project adds prestige to the brand as it is situated in the heart of Gurgaon, the IT hub of Northern India and is positioned to be the finest business address in the South of Delhi. Needless to say, these achievements should be a matter of great pride and satisfaction to us all and have only been possible because of your unwavering support to us. Looking ahead - in the year 2009, there will be intense competition against the background of a hopefully recovering economy. However your company has the vision and commitment to outperform the peer groups through innovation, quality, competitive pricing and admirable customer relations, armed with excellent corporate governance and management accountability. MVL constantly strives to enhance the fortunes of all our stakeholders and it shall be my utmost endeavour to develop MVL as company of choice for its employees, customers and investors. I am confident of your continuing support and commitment to achieve greater heights in the years ahead. Prem Adip Rishi Chairman