It gives me great pleasure in welcoming you all to the 34th Annual GeneralMeeting of the Company.
As we all are aware the Indian economy is poised on the cusp of a new era ofexponential growth and rapid development under the leadership of our visionary PrimeMinister Shri Narendra Modi. This will undoubtedly open up new and unprecedented businessopportunities in the country. The Hon'ble Prime Minister's vision is indeed laudable. Itaims at bringing in major reforms that will make it easier to do business in a corruptionfree environment attract investments under the Vision 'Make in India' model and developSmart Cities.
Falling interest rates and Implementation of The Real Estate (Regulation andDevelopment) Act 2016 are expected to stimulate end user demand due to the Developer'saccountability commitment discipline & transparency.
During the financial year 2016-17 your Company achieved turnover of ' 100.73 Crores.Also going forward various existing projects are gaining momentum which will help theCompany to generate the desired growth in terms of revenue and performance in comingyears.
We feel that success is derived from the ability to lead motivate inspire delegateand empower. What excites me is how we transformed our self into a passion-driven approachon how we can make a difference every day at work.
With India on its growth journey there is a need for reliable and professional RealEstate developers that have an unwavering commitment to excellence. Satra believes instrong corporate governance highest levels of integrity and transparency. We look atIndia's economic growth as an opportunity to empower people enrich their lives and tocontribute to the nation's development. Going ahead as the external environment becomesincreasingly challenging we have looked within to strengthen our fundamentals andcompetitive advantage the benefits of which shall progressively accrue. With a legacy ofover a decade Satra has seen several economic cycles in the Industry and is well equippedwith the knowledge bank to set the right course for our next phase of growth.
The management is committed to its expansion plans that will ensure unlocking thepotential value of the projects thereby creating wealth.
I would like to take this opportunity to thank the Company's stakeholders especiallyour valued customers suppliers professionals Government and Regulatory Authoritiesinvestors Bankers Financial Institutions members and debenture holders for theircontinued faith and trust.
I thank all my colleagues on the Board for strengthing good governance culture acrossthe organization and fulfilling the responsibilities of Board.
I would like to place on record the sincerity of our dedicated and hardworkingemployees who have enabled your Company to hold its head high even in these challengingtimes. I seek your continued support in making the Company more sustainable and resilientto external challenges.
PRAFUL N. SATRA
Chairman & Managing Director