My Dear Shareowners,
I am extremely happy to share with you the highlights of our company's achievements inthe year 2011-12. During the year our company made significant progress in fulfilling itsvision of completing our prestigious project "PARSHWANATH HOMES" providinglatest modern and comfortable homes.
As you are well aware, we, the "PARSHWANATH GROUP", are the pioneers inGujarat for providing "GHAR NU GHAR" to a large number of people, includingweaker sections of the society. After diversification of activities from housing financeinto real estate and construction field, the company is rapidly marching towards progressand prosperity, which is evident from the encouraging financial performance of thecompany.
I am glad to inform you that, our company Parshwanath Corporation Ltd., has achievedrecord Annual Turnover amounting to Rs.1407.33 Lacs, in the current financial year 2011-12as against Rs. 187.33 Lacs in 2010-11, which shows tremendous rise of more than 700%.Consequently the Net Profit in the year 2011-12 has also reached to Rs.385.59 Lacs whichreflects sizeable increase as compared to the profit of Rs. 135.29 lacs during theprevious year 2010-11. The Earning per share (EPS) is Rs. 12.85 as against Rs. 4.51 duringthe last year. I am sure that you will be happy with the financial results.
We are proud of being a leading company in Realty Industry, which is one of the biggesteconomic factor in Gujarat. We believe in making every effort to ensure that our realestate projects are based on cutting-edge technologies and are executed at speeds andcosts which are unmatched in the industry. Our history and heritage as a PARSHWANATHGROUP, in one word, stand for TRUST in us.
On behalf of the Board, I convey my sincere thanks to all of you for your continuedsupport and faith. Also I heartily express my feelings of gratitude to all our customers,vendors, bankers, business associates and Government Authorities, for their co-operationand support, which have played important role in the present development of the company. Igreatly value and appreciate the outstanding commitment and dedicated efforts of ouremployees who are very much instrumental in this growth of the company.
I look forward to seek your whole-hearted support and encouragement to shape and visionour values in future.
Rushabh N. Patel,