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Satra Properties (India) Ltd.

BSE: 508996 Sector: Infrastructure
NSE: N.A. ISIN Code: INE086E01021
BSE LIVE 14:53 | 22 Aug 5.10 -0.10
(-1.92%)
OPEN

5.09

HIGH

5.21

LOW

5.09

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 5.09
PREVIOUS CLOSE 5.20
VOLUME 57183
52-Week high 8.40
52-Week low 4.36
P/E 51.00
Mkt Cap.(Rs cr) 91
Buy Price 5.10
Buy Qty 312.00
Sell Price 5.22
Sell Qty 13.00
OPEN 5.09
CLOSE 5.20
VOLUME 57183
52-Week high 8.40
52-Week low 4.36
P/E 51.00
Mkt Cap.(Rs cr) 91
Buy Price 5.10
Buy Qty 312.00
Sell Price 5.22
Sell Qty 13.00

Satra Properties (India) Ltd. (SATRAPROPERTIES) - Chairman Speech

Company chairman speech

Dear Shareholders

With the continuous efforts of the Government for ease of doing business theconstitutional amendment bill passed by both the houses of Parliament paving way for themost awaited Goods and Service Tax bill enactment of Real Estate (Regulation andDevelopment) Act and other major reforms would result in the positive impact on theIndian economy and the real estate sector in coming years.

The process of various socio economic reforms pushed by the Government will result inGDP growth to 7.20% and is one of the fastest growing economy in the world. As this willresult in spur in the consumer demand and will eventually benefit the real estateindustry.

Over the past several years the Board has overseen the firm's evolution and growth.The Board strives continually to take a proactive approach to ensure that the appropriatestructures and processes are in place to facilitate independent and effective oversight ofoperations capital deployment strategic growth initiatives and risk managementpractices. Subdued property price growth expectancy and booming financial investmentalternatives have weakened the investment rationale for property thereby keepinginvestors away. On the other hand for end users high property prices and low incomegrowth continue to be the top concerns. For the road ahead we believe steady enquiriesmainly in the affordable and mid-segment is likely to bring back fence sitters. Fallinginterest rates coupled with the introduction of Real Estate (Regulation and Development)Act 2016 are expected to stimulate end user demand due to the Developer's accountabilitycommitment discipline & transparency.

Howsoever despite of all the adversities during the year under review various ongoingprojects gained momentum. During the financial year 2015-16 your company achievedturnover of ' 86 crores. That was increase of 149% as compared to the previous financialyear due to increase in performance activities. Also going forward various existingprojects are gaining momentum which will help company to generate the desired growth interms of revenue and performance.

Your company has recently unveiled one of its prestigious residential project spreadover free hold land admeasuring 5560 Sq metres in Matunga cR Mumbai having a developmentplan of 3 to 4 years. The management is committed to its expansion plans over a period of5 years that will ensure unlocking the potential value of the projects thereby creatingwealth.

I extend thanks to my fellow directors for their ongoing commitment and our dedicatedand hardworking employees who have enabled your company to hold its head high even inthese challenging times. On behalf of the Board I would also like to thank you ourshareholders for your support. We remain committed towards sustained wealth creationreduced finance cost and increased efficiency.

Regards

praful n. satra

chairman & managing director