Dear Shareholders,
 
 Hospitality sector in India is constantly evolving keeping in tune with
 global trade & commerce. With globalization come opportunities,
 challenges and competition amongst domestic as well as international
 players. The economic scenario since year 2008 has witnessed quite a
 bit of ups & downs and same is continuing at present in terms of
 economic growth. There has been economic turmoil across the developed
 and developing countries which has affected the overall growth
 parameters. In India, we have seen high inflation, food prices being
 escalated and interest rates being hiked during last & current year
 which had its effect not only on hospitality sector but manufacturing &
 service sectors too. There has been major cost cutting on part of
 individuals & corporate companies to address this economic situation.
 
 In spite of this prevailing economic scenario, during the year under
 review, your company has achieved a remarkable annual sales turnover of
 Rs. 12,385.67 lakhs in the current year, which was Rs. 8862.94 lakhs
 during the previous year. The Company has been able to maintain
 persistent growth on year to year basis. We have remained loyal to our
 mission providing highest level of customer satisfaction, best quality
 services & value to our shareholders on the long run. Last year, your
 company in midst of economic turmoil has successfully completed its
 most ambitious 5 star deluxe hotel, convention center & club project at
 Surat. As committed, the project at Surat has fully commenced its
 business and has already started generating revenue by providing
 luxurious rooms, convention centre facilities, banquets, restaurants
 and a club.
 
 In coming years with advent of globalization & faith in robust economic
 growth story of India, coupled with various economic initiatives, the
 domestic tourism & hotel business indicate a trend towards rapid
 growth. Another key development & a positive economic indicator is the
 rise in net disposable incomes of the general population. The Company
 is looking forward to capitalize on the opportunities in the market &
 to focus on both corporate & non-corporate customer segments.
 
 The vibrant economic status of Gujarat would directly benefit your
 company as we have our star category hotels in important cities of the
 state like Ahmedabad, Surat & Rajkot. Today, the state of Gujarat is
 witnessing huge investments from across the globe and same will give
 further flip to hospitality sector. Your company stands to gain from
 such opportunities as we have Unique Banqueting Module which can
 cater to any kind of functions or corporate launches other than
 benefiting from room revenues.
 
 Your company has also benefited immensely from their other business
 verticals which have helped in sustaining the growth. Your company is
 the only corporatized outdoor catering company and enjoys a worthy
 reputation among the clientele. Our present Management Services
 vertical also has received numerous inquiries from leading hospitality
 chains to manage their properties; in near future we shall manage such
 properties in cities of Nagpur, Indore, Nathdwara and Vadodara, adding
 more as we move forward.
 
 It is our endeavor to create grand moments and grand memories for our
 guest and true value for our valued stakeholders. The company shall
 keep raising the benchmark, looking for more opportunities to have
 consistent and sustainable growth in coming years. We stay committed to
 our vision & mission creating one of the most respected, service
 oriented hospitality company.
 
 Best Wishes,
 
 Narendra Somani
 
 Chairman & Managing Director