Our developments are conceptualized based on the needs of our customers and have anelement of contemporary design that appeals to the new-age customer.

Dear Shareholders

The new year has been momentous for India in more ways than one. The general electionsthis year construed a big win for growth and stability. The government that had brought inground-breaking reforms and policy changes particularly in the real estate industry isonce again back at the helm with an emphatic mandate. Reforms like GST Insolvency codeRERA and other similar initiatives have put the country on an accelerated path.

The year FY 2018-19 brought in consolidation to the real estate sector as the centralgovernment's transformative agenda of the previous few years started to take effect. Thelong-term impact of these regulatory measures has been largely positive leading tostronger governance transparency and compliance. Moreover the Maharashtra Government'ssustained emphasis on developing infrastructure and improving connectivity has boosted themarket and led to renewed optimism.

At Oberoi Realty we have always embraced challenges and capitalized on opportunities;this has been made possible thanks to our continued focus on technology sustainabilityquality and by fostering an inclusive work culture. Our developments are conceptualizedbased on the needs of our customers and have an element of contemporary design thatappeals to the new-age customer. The spaces we create are built using the latestconstruction methodologies that involve the convergence of global and local practices. Ourfocus on design and execution coupled with strong corporate governance practices hassupported us to meet the expectations despite subdued market sentiments.

With a vision to be a thought leader in transforming the real estate landscape ofIndia we look forward to the corporatization of the sector by collaborating with

global talent to reach global standards and bringing in international best practices toIndia in design construction safety and quality.

As always I am glad that our commitment to follow our vision has rewarded us amplywith our company bagging multiple recognitions both at domestic and internationalplatforms. The appreciation is an affirmation of the work we have done; it also puts morepositive pressure on us to push the envelope to continue to create value for all ourstakeholders.

I would like to thank you for reposing your faith in your organization and standing byus. We have the resources the determination and the resilience to live up to the higheststandards and we will continue to work together with all our stakeholders to create abetter tomorrow for us all.

Wishing you all an exemplary year ahead!

Best Wishes