I hope this message finds you and your loved ones safe healthy and are taking ailnecessary precautions for your wellbeing. The second wave of COVID -19 has taken aterrible toll on our country and our employees shareholders and stakeholders have allfaced adversity in recent months. I'd like to take this opportunity to convey our deepestcondolences to those who have lost loved ones.
While the first half of FY21 was subdued because of the lockdown constraints howeverthe initiatives taken by Central and State governments RBI and other regulatoryauthorities offered great support which ensured that the second half made up for the wholeyear. I would also like to thank all my shareholders customers and partners for theirconfidence in the brand and continuous support. It was very encouraging and helped us tocontinue our fight against the pandemic during these demanding situations.
The pandemic also led to a paradigm shift in consumer preferences and buying behavior.It made people realise the importance of owning a home that takes care of all the needsand safety of every family member. Low mortgage rates and supportive policy steps likereduction in Stamp Duty have provided a much-needed stimulus.
Though FY 2020-2021 was a lackluster year with full of challenges for the real estatesector. The real estate activity in Mumbai has remained stagnant and at a standstill forthe substantial part of the year however we continue to strengthen our position and focuson execution growth and expanding horizons.
Your Company has its ongoing 21 storied premium residential project "Xenus"at Matunga (Central) Mumbai based un Uie concept of "Residences that will make youproud". Your Company is awaiting clearances from the regulator for starting theconstruction work at its other pipeline projects situated at Kandivali-West (Mumbai) forwhich the land agreement/ development agreement are already under the process offinalization. With our experiences during the first and the second wave and the lockdowninitiated by the governments to curtail the spread of the pandemic your Company isworking on adding a multipurpose room in our pipelined projects that can be set up as adedicated Work from Home space.
We are set to embark on a new journey in the coming years. With construction underwayon ongoing projects we expect a strong momentum in sales over next year and above allcreate shareholders value.
The team at RODIUM is exceptional we are confident in our ability to acceleratebecause we have strong dynamic team who are motivated by the opportunity while remainingcommitted to our values of sustainability diversity and humanity.
I would like to thank all shareholders employees customers business associates andall the stakeholders for their valuable support and encouragement.
On behalf of my fellow Directors and RODIUM Family I renew our pledge to remaincommitted towards building a new India.
Chairman & Managing Director