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Proseed India Ltd.

BSE: 590057 Sector: Others
NSE: GREENFIRE ISIN Code: INE217G01027
BSE LIVE 14:16 | 07 Jul Stock Is Not Traded.
NSE 15:23 | 07 Aug Stock Is Not Traded.
OPEN 0.59
PREVIOUS CLOSE 0.59
VOLUME 2500
52-Week high 2.70
52-Week low 0.55
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.59
Sell Qty 4000.00
OPEN 0.59
CLOSE 0.59
VOLUME 2500
52-Week high 2.70
52-Week low 0.55
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.59
Sell Qty 4000.00

Proseed India Ltd. (GREENFIRE) - Chairman Speech

Company chairman speech

NORTHGATE TECHNOLOGIES LIMITED ANNUAL REPORT 2007-2008 CHAIRMAN'S REPORT Dear Members, Year 2007-08 was a very significant year for our Company in many ways. We established our strong business footprint globally. We are the first India based Emerging Global Internet Giant Company providing world Class Internet based Infrastructure and services. Today, 3 out of our 6 web properties created by us are in Top 1000 websites on Internet Universe. Your Company is operating in one of the fastest growing industries in the world - Internet Advertising - an industry that has grown at a Compounded Annual Growth Rate of 37% from $16bn in CY2004 to $41bn in 2008. Apart from USA and UK Markets, your company is also focused on the fast growing Internet Market- the Asia Pacific especially two fastest growing Internet Advertising markets - India and China. I am happy to share that your Company has grown at a pace of 87% in revenue terms in 2007-08. Our Online Media Exchange business segment since its launch in October 2004 has grown advertiser network by 4x to over 14,000 and publisher network by about 3x to 7,399. Revenues from Online Media Exchange business segment grew by 82% to Rs. 451 Crores in FY 2007-08. Our Online Media Properties business segment has grown at 279% to Rs. 100 Crores in revenue terms in comparison with last year. Through our online media properties such as Globe7.com, ziddu.com, Bharatstudent.com, egglad.com and Longhaier.com, we reach internet users directly and captures the complete share of advertising revenues. Overall your Company registered a consolidated net profit of Rs 72 Crores, up 27% over the previous year figure of Rs 57 Crores; and net sales of Rs 551 Crores, an increase of 87% over the last year figure of Rs 294 Crores. Another vital initiative that your Company undertook during the year was to build partnerships to accelerate growth and profitability. We entered into strategic partnerships with large web properties such as Sina.com.hk, Bangkokpost.com, Chinatimes.com and nst.com. Our strategic partnership entered with large web properties enables us to reach more than 300 million global internet users. We are proud to share that Hong Kong government has chosen your company to provide Internet based services to the people of Hong Kong under 'Ubiquitous' project. Your Company is continuously on the lookout for partnering with many more large web properties in near future. Our success of becoming world class Internet Company is founded on the base of our high capacity, high scalable server farms. We invested more than $50mn till date - in building Hong Kong based new server farm besides increasing capacity of server farms situated in London, UK. Our strategic location of Server farms in UK and HK ensures low operating expenses such as cost of bandwidth in UK is as low as $10/MB compared to $1,000/MB in India. Imagination is powerful than Knowledge. Today, a small company from India is leaping to become a Global Internet giant. Ziddu.com is in Top 200 websites of the world, Globe7 is in Top 1000 websites of the world and Bharatstudent.com is in Top 500 websites of the world. We are also powering Large Media giants across Asia Pacific. World class highly scalable server farms, World class Mass Media Services like - Voice, IM, Blogs, Games, Streaming, Sharing, Downloading services etc. and Monetization Services through Axill network are the three elements of our glorious success. Your's Truly, Venkat S. Meenavalli Chairman & Managing Director