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Tantia Constructions Ltd.

BSE: 532738 Sector: Infrastructure
NSE: TANTIACONS ISIN Code: INE388G01018
BSE 00:00 | 25 May 8.55 -0.45
(-5.00%)
OPEN

8.55

HIGH

8.55

LOW

8.55

NSE 00:00 | 25 May 8.30 0.20
(2.47%)
OPEN

7.70

HIGH

8.50

LOW

7.70

OPEN 8.55
PREVIOUS CLOSE 9.00
VOLUME 2700
52-Week high 22.20
52-Week low 8.55
P/E
Mkt Cap.(Rs cr) 25
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8.55
CLOSE 9.00
VOLUME 2700
52-Week high 22.20
52-Week low 8.55
P/E
Mkt Cap.(Rs cr) 25
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Tantia Constructions Ltd. (TANTIACONS) - Chairman Speech

Company chairman speech

Dear shareholders

Warm greetings! It is an honour to address you on behalf of the Board of Directors inthe 52nd Annual Report of your Company.

Overview

The future-facing incumbent Government launched some significant initiatives includingdemonetizing high currency notes and implementing the Goods and Services Tax that willhave a positive impact on the economy.

Though the administration is focused on reviving/ developing large-scale infrastructureas a means to boost economic growth a key longstanding request of the constructionindustry has been to bring forth a substantive change to the dispute resolution mechanismseeking payment of awarded amounts on completion of an arbitration and appealing againstthe same only in exceptional circumstances rather than as a rule. Another key request hasbeen to ensure that full land is made available before award of projects so that workproceeds speedily and disputes relating to idling are eliminated. Both these requests ifactioned will bring about a qualitative change in the manner in which projects areexecuted and infrastructure is created in India the benefits of which will be seen withinthe short to medium term. The ambitious GDP growth and job creation targets set by thepresent Government will also then become a reality.

The GST-driven changes in the real estate sector are inevitable. When it comes to GST'simpact on the commercial real estate market - with the service tax for commercial leasesat 15% GST would likely have an overall neutral impact (at 12% slight savings; at 18%marginal increase). Cement prices are expected to go up with the GST Council announcing a28% tax rate on it which will have an adverse impact on the construction industry.

Facts and figures

The Company's turnover (standalone) stood at RS.2 8505 lacs in 2016-17 as comparedwith RS.40556 lacs in 2015-16. The increase in the net loss is mainly attributable to thelower turnover. To overcome the challenging business environment the Company hasproactively undertaken steps to realization of claims cost optimization monetization ofassets and carefully bidding for new jobs apart from focusing on streamlining internalprocesses with an emphasis on leveraging the Company's existing core competencies. TheCompany's order book was RS.2 295.33 cr as on 31 March 2017.

Way forward

I am grateful to our entire stakeholder family - colleagues business partnerscustomers and all others for reposing their faith in us employees for their resolve andunstinted devotion Members on the Board for their wisdom and continued support and youour shareholders for reposing trust and faith in us.

Best wishes

I.P. Tantia