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Parth Housing & Estate Developers Ltd.

BSE: 526528 Sector: Infrastructure
NSE: N.A. ISIN Code: N.A.
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Parth Housing & Estate Developers Ltd. (PARTHHOUSING) - Director Report

Company director report

1996 PARTH HOUSING AND ESTATE DEVELOPERS LIMITED DIRECTORS' REPORT Your Directors have pleasure in presenting the Fourth Annual Report together with the Audited Statement of Accounts of the company for the year ended 31st March, 1996. DIVIDEND With a view to conserve the resources of the company, your Directors do not propose to recommend any dividend for the year under review. OPERATIONS During the year under review operation of the company was satisfactory. The company has achieved contract receipts amounting to Rs. 24,677,614 and net profit after tax of Rs. 10,13,913. The contract receipts of the company during the year shows increase of 22% as compared to previous year. The Net Profit is also showing increase of 28% as compared to previous year. PROJECTION V/S PERFORMANCE (Rs. in Lacs) Year ended 31-03-96 Projected Actuals Sales & Other Income 1277.43 253.53 Profit before Interest, Depreciation & tax 148.37 51.56 Profit after Tax 82.98 10.14 Since the major projects could not be completed in time due to requiring Number of government clearance, the Company could not achieve the projected results as per our prospectus dated 7-4-94. CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO Information required to be given pursuant to section 217(1)(e) of the companies Act, 1956 read with the companies (Disclosure of particulars in the report of the Board of Directors) Rule, 1988 does not apply to the company. The information in respect of foreign exchange earnings and outgo is contained in notes forming part of Accounts. DIRECTORS Shri. Nimish R. Patel retires by rotation and being eligible offers himself for re-appointment. INSURANCE The properties of the company are adequately insured. DEPOSITS The company has not accepted any deposits during the year under review within the meaning of Section 58A of the Companies Act, 1956. PARTICULARS OF EMPLOYEES None of the employees of the company were in receipt of remuneration in excess of Rs. 25,000 per month and hence information pursuant to provision of Section 217(2A) of the Companies Act, 1956 is not furnished. AUDITORS The terms of appointment of M/s. Bharat P. Shah & Co., Chartered Accountants as Auditors of the Company expires at the conclusion of the ensuing Annual General Meeting and they are eligible for re-appointment. Your Directors recommend their appointment as Auditors of the company from the conclusion of the ensuing Annual General Meeting till the conclusion of next Annual General Meeting and Fix their remuneration. APPRECIATION Your Director wish to place on record their appreciation to the employees of the Company, Shareholders, Customers, Suppliers, Contractors and Bankers for their continued support and co-operation. On behalf of the Board of Directors, NIMISH R. PATEL Chairman Place : Ahmedabad. Dated : 25th July, 1995.