It gives me immense pleasure to present to you the Annual Report of Financial Year2019-20 of our Company Trescon Limited. While this was a year of extreme economicchallenges for the world a situation aggravated almost beyond measure by theunprecedented Covid-19 pandemic your Company continued to play on its strengths andposted a stable financial performance.
I hope that you your families and loved ones are safe and doing well. I write to youamidst uncertain times. The global spread of COVID 19 and India's lockdown have created aneconomic environment filled with uncertainty and risk. Our first priority has been toensure that our workforce is safe.
As a Company our vision is to create spaces that are aspirational and live beyond ourlifetime; developments that set benchmarks for the Industry and enhance the entireecosystem they operate in.
As we enter a new financial year we at Trescon are humbled with the trust bestowedupon us. The past year was an eventful one in terms of overall economic reforms not justfor us but for the whole of corporate India. I am happy to be writing to you after thesuccessful completion of year for Trescon. We strive to be the most ethical mostcustomer-centric and highest caliber residential real estate developer in India.
I'm pleased to say that we are making significant progress toward those goals. We'vestrengthened our capabilities in many critical areas of operations we have bolstered ourbalance sheet through a timely equity raise and strong operating cash flows and we haveextended our competitive advantages.
As the real estate industry enters a new era of consolidation there is renewedenthusiasm about our sector in the economy. We are at a crucial juncture where we believethat the time is right for developers of repute and credibility to lead the way. Togetherthese reforms are poised to increase investment into the sector aiding growth of not justour industry but the overall economy as well.
As the quality of real estate projects in India has improved over past decade customerexpectations have also evolved. Consumers want and expect more from the developers bothin terms of design quality and service experience. At Trescon we know that our ability todrive customer value in product and service will be the most significant determinant ofyour company's success.
Your Company is a strong believer in adaptability and has already been attuning itselfto altering market sentiments. As a Company our vision is to create spaces that areaspirational and live beyond our lifetime; developments that set benchmarks for theindustry and enhance the entire ecosystem they operate in.
The team at Trescon is truly exceptional and passionate about their opportunity to beIndia's one of the leading real estate developer. They are driven by your company'scommitment to excellence sustainability and diversity. I am grateful to each of them fortheir exceptional commitment and ambition.
As the world gradually fights the Covid-19 pandemic and starts its determined march torecovery we would like to pay our sincere tribute to all the frontline workers andmedical staff for their dedicated service. Our deep condolences are also with the millionsacross the world who have lost their loved ones in the pandemic. Let's gear up and embracethe opportunities and challenges in a post-Covid world with new zeal faith and beliefthat we will ascent - TOGETHER !
Finally we owe thanks to you our shareholders for your continued belief in Trescon.
Wishing you all a successful and a healthy year ahead!
Chairman and Whole time Director