MANAGEMENT DISCUSSION AND ANALYSIS REPORT OVERVIEW: The financial statement? have been brpared in compliance with the requirements of the Companies act, 2013, and Generally Accepted Accounting Principles (GAAP) in India. The management of the Company accepts responsibility forintegrity and objectivity of these financial statements as well as various estimates and judgments. GLOBAL AND INDIAN ECONOMYAND REALTY AND SOFTWARE SECTOR IN INDIA: Real estate professionals are unanimous in one brdiction: After the formation of new government there was lots of positive hopes for improvement in the real estate industry but still 2014 was a dull year for real estate, when all asset classes — residential, office and retail properties — barring some cities such as Bangalore saw a steady decline in absorption. India is one of the fastest-growing IT services markets in the world. It is also the world's largest sourcing destination, accounting for approximately 52 per cent of the US$ 124-130 billion market. The country's cost competitiveness in providing IT services continues to be its USP in the global sourcing market. India has the potential to build a US$ 100 billion software product industry by 2025, according to Indian Software Product Industry Roundtable (iSPIRT). The software products market in India, which includes accounting software and cloud computing-based telephony services, is Muscled to grow at 14 per cent in 2014. Business Environment and Outlook: Challenges: While the management of your Company is confident of creating and exploiting the opportunities, it also finds the following challenges: • Unanticipated delays in project approvals • Availability of accomplished and trained labour force • Increased cost of manpower • Rising cost of construction • Growth in auxiliary infrastructure facilities • Over regulated environment Outlook: FY2016 outlook would be governed by the policies and framework to be announced by the new government. FY2016 is expected to remain challenging in light of the need for significant fiscal adjustment, inflation risks and the spiraling current account and fiscal deficits.A strong vision on infrastructure and implementation of Real Estate Regulation & Development Bill may boost the investor confidence and related businesses.Amidst all these challenges, your company will target to ensure steady operations and deliver high quality projects for its customers Internal Control System The Company has in place adequate system of internal control commensurate with its size andnature of its operations. These have been designed to provide reasonable assurance with regard to recordingand providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorized uses or lose, executing transactions with proper authorizationand ensuring compliance of corporate policies. Financial Performance During the year under review, the Company earned a total income of Rs. 17,00,098/- as compared to Rs.6,57,88,545/- in the brvious year. The Company has incurred a Net Loss of Rs.15,19,122.81/- (Previous Year Net Loss of Rs. 1,44,34,762.46/-) Disclaimer The information and opinion exbrssed in this section of the Annual Report may contain certain statements, which the management believes are true to the best of its knowledge at the time of it sbrparation. The Company and the Management shall not be held liable for any loss, which may ariseasa result of any action taken on the basis of the information contained herein. On Behalf of the Board of Directors Sd/- Aman Pradeep Choudhary Director DIN: 03639882 Place: Mumbai Date: 4th September, 2015 |