Like every year I am here to share with you the financials of SRS Real InfrastructureLimited. Despite a very competitive and challenging environment the overall performanceof our company has been promising till 3rd quarter.
Real Estate as a matter of fact has always been an attractive investment option andwith the additional support of the new rules and regulations by the government it ishopeful that it will result in significant growth in the residential and commercial realestate. The government has always had a major influence on the Real Estate sentiments ofthe investors and now with a stable government at center; we are hopeful that the lostconfidence shall be revived.
The real estate industry faces its own share of concerns due to economy showing signsof decrease in GDP growth. Several real estate developers are backtracking under high debtwith the increase in construction and labour costs. Toughening of interest rates by thecentral bank is expected to further inhibit the sale of real estate properties. Hencethis has effected the financial results of our organization. Yet steps have been taken tocushion that blow to a large extent.
Although I must confess that our company too has not been immune to ongoing slowdownand the challenges it brought in its wake yet it is better prepared to face the situationthan most of its peers. Rather in some sense we view this as an opportunity rather thanan adversity.
Apart from building the infrastructure we also deal in trading of constructionmaterial and as the overall market has been slow hence being affected in that front too.We have taken up some proactive stands to counteract the slump aiming to sustain thebusiness and accelerate growth in coming years.
Yes the organization has faced a slump in the 15-16 fiscal year yet there have beenreasons to rejoice. Considerable acceleration in our company's growth momentum in therecent past amid numerous challenges encourages me to assure you that the company willcontinue to grow and prosper despite any issues emerging on the global and nationalbusiness horizons.
I am optimistic about our company's future as have received valuable suggestions fromour Auditors Directors Employees and Consultants. With effective implementation of thesesuggestions appropriate strategies and hard work of our employees their commitmentpassion and desire to excel we will come out of this adverse situation faster than ourcompetitors.
Apart from capacity building in term of physical assets SRS also contributed tonational goals of sustainable and inclusive growth- being responsible corporate citizens.In this regard we have undertaken CSR initiatives of promoting education especially forgirl child.
Although real estate has been through a difficult time; and the market is soft yet withcontinuous support and motivation from our shareholders associates and valuable employeeswe will deliver better results in years to come.
As we look ahead we will continue to build on what we do to look for furtherimprovements. We are just embarking on a significant path and I once again thank you foryour continued support. Our company's plans of generating greater growth are in progressand I would like you to remain with us to reap the benefits of hard work and perseverance.
Before I close my address I take this opportunity to convey our appreciation to ourstakeholders - customers for reposing their faith in us employees whom we recognize asour core asset for their enthusiasm unstinted devotion co-operation and commitmenttowards the quest of excellence our Members of the Board for their valuable guidance andcontinuous support; management team for efficiently steering the company's resources andyou our shareholders for your continued support to the endeavours of the company. I wouldlike to end by mentioning that determination trust action and solidarity will be ourtools to accomplish our objective. We have all but all that is needed is their furtherimplementation in the face of challenges and the triumph am sure will be ours.