India is entering an era of great opportunities. With a new governmentin place with a stable majority and visionary leadership the country is potentially onthe threshold of a historic leap forward. However this calls for rapid reforms andinnovative policies aimed at enabling businesses to grow and jobs to be generated on amassive scale. The most effective strategy to overcome many of the most dauntingchallenges being faced by the economy would be to harness the unique advantages of thereal estate development sector which in my opinion will not only act as a catalyst ofgrowth in over 250 ancillary industries but will also create employment opportunitiesacross the skills spectrum. Within the real estate industry companies that have equippedthemselves to adapt to and embrace the changing market dynamics will be the only oneswhich can seize the opportunities that forge ahead. Your Company had anticipated thesemuch in advance have effectively positioned DLF to fully reap the benefits of theopportunities that overall economic resurgence will open up.
As part of the process of preparing for the new era of growth DLFduring the year gone by successfully completed the Qualified Institutions Placement of र 3173 crore of equity coupled with infusion of ` 11250 crore by the promoters.This has transformed the balance sheet significantly and DLF has almost achieved its goalof being zero net debt in its development business. The Company will leverage theadvantages of focusing on monetization of the finished inventory by utilizing the surpluscash flows primarily for debt reduction and the balance cash surplus will be utilized bythe Company to both reward its shareholders as well as to re-invest in development of newprojects for both sale and lease business. The Company is confident that investment in thenew development pipeline shall achieve desired returns.
Your Company continues to dedicate itself to contribute to thecommunity. Our efforts touch many lives through various programmes in the field ofeducation health care skill development and senior citizen care. We have also taken amajor philanthropic initiative to develop a project for establishment of an Institute forimparting and sharing knowledge of Art Culture Spirituality Healthy living and EthicalLeadership based on India's ancient Vedic Philosophy. I would like to thank allshareholders employees customers and business associates for their valuable support andlook forward to continued encouragement in our mission of Building India. On behalf of myfellow Directors and DLF Corporate family I renew our pledge to remain committed towardsbuilding a new India.
| ||With best wishes |
| ||Sincerely |
| ||(Dr. K.P. Singh) |
|26 June 2019 || |