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Satra Properties (India) Ltd.

BSE: 508996 Sector: Infrastructure
NSE: N.A. ISIN Code: INE086E01021
BSE 00:00 | 15 Feb 3.78 -0.07
(-1.82%)
OPEN

3.78

HIGH

3.78

LOW

3.78

NSE 05:30 | 01 Jan Satra Properties (India) Ltd
OPEN 3.78
PREVIOUS CLOSE 3.85
VOLUME 54
52-Week high 6.50
52-Week low 2.44
P/E
Mkt Cap.(Rs cr) 67
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.78
Sell Qty 300446.00
OPEN 3.78
CLOSE 3.85
VOLUME 54
52-Week high 6.50
52-Week low 2.44
P/E
Mkt Cap.(Rs cr) 67
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.78
Sell Qty 300446.00

Satra Properties (India) Ltd. (SATRAPROPERTIES) - Chairman Speech

Company chairman speech

Dear Shareholders

Welcome everybody to your Company's 35th Annual General Meeting. It is a matter ofimmense pleasure and privilege to be amongst our most trusted and valued supporters; ourshareholders.

Reforms are key to progress as has been ably demonstrated by our visionary PrimeMinister Shri Narendra Modi. During the past year we have witnessed significant ineconomy particularly real estate and construction industry through the policies andregulations announced time to time by our Government. The ongoing transition as thepolicies are being enforced called for change and adaptation to the reforms for whichyour Company has been prepared. As the RERA and GST acts continue to guide the businessit has enthused a positive trend because of transparency regarding approvals possessiontimelines and interest on defaults they offer.

There has been considerable slowdown in the real estate market over past year and ahalf while the reforms are being enforced. The negative sentiments regarding the extraburden of GST on the end-user on under construction apartment has been a major setback.Apathy of financial institutions and banks towards the anticipation of their risksinvolved in developer repaying the loan and increase in the number of litigations ofprojects due to RERA has also caused slowdown in this sector.

The growth and development in rural and urban infrastructure has seen acceleration inthe last year. This undoubtedly will result in impetus to the real estate sector alongsideimproved infrastructure & connectivity. Your Company believes that with theintroduction of affordable housing concept of Smart City and various Awas Yojnas by theHonorable Prime Minister in the preceding financial year/s there are many opportunitiesfor building homes within the lower segment in the Indian real estate market by venturingwith other developers in the model of joint-development and/or as Project ManagementConsultants. Also since the demand for affordable housing fragment is the key-drivingfactor of real estate business in Mumbai the Company eyes on various opportunities forthe same. While your Company continues to be associated with potentially wealth creatinghigh end projects like residential project in Matunga the Board is cognizant of thepotential in the affordable and mid-segment market of the real estate. We have launchedSatra Harmony in suburbs of Chembur to this effect where mid-segment end users areexpected to join the long list of our satisfied customers.

We are committed to our judicious expansion plans while diligently pursuing newdevelopments into the real estate sector thereby increasing our revenue and market share.More impressive is the fact that your company is

A Clear Vision Backed By Definite Plans " Gives You A TremendousFeeling Of Confidence And Personal Power.

~ Brian Tracy

trying to reduce the debts substantially thereby adding considerable value to theCompany. Through this alone we will gain confidence of our investors and also the endusers. Careful planning and smart experience to tide over difficult business cycles hasbeen our forte and this has come to the fore during the last financial year.

On behalf of the Board I express my sincere gratitude towards employees of ourCompany. Notwithstanding the challenging times they wholeheartedly displayed fierceloyalty dedication and hard work qualities; Satra

Group values and appreciates. My sincere thanks to the Directors on Board for theircommitment to the Company's vision and continued able guidance. I'm indebted to you ourShareholders for your confidencein us and the ardent support that you continue to bestowupon us.

Regards

Praful N. Satra

Chairman and Managing Director