Dear Shareholders,
 
 In recent times, educators across the world have emphasised the need to
 usher in a new wave of education which will eventually result in
 life-long learning. These solutions should transcend the limitations of
 the traditional education system and address questions lingering around
 it: Why does education not always translate into a robust careerRs.
 Why does knowledge consumption lack perspective, context setting, or
 critical analysisRs. Why doesnt the current learning environment foster
 knowledge creation ensuring learner success in the competitive
 globalized economyRs.
 
 I am proud to state that COREs transformational and innovative
 technology-driven products, solutions and services redef ne the four
 building blocks of 21st century education – Teaching, Learning,
 Assessment and Governance.
 
 REDEFINING EDUCATION
 
 CORE continuously brings innovation and cutting edge technologies to
 break the current clutter and offer unique teaching and learning
 experiences beyond the conventional IT enabled education. Our
 partnerships with institutions like NASA Centre of Higher Learning and
 the University of Oxford, and our innovations like student growth
 modeling methodology, more commonly known as ipGrowth and Special
 Education product Bright IDEA have helped and redef ned the paradigms
 of Teaching, Learning, Assessment and Governance.
 
 Our scale and size of operations have widened with the number and
 variety of our global acquisitions. We have completed successful
 strategic acquisitions and subsequent merger of K-12 division of the
 Princeton Review, and Technical System Integrators to name a few. CORE
 thus commands an extensive international footprint with its solutions
 being used by thousands of schools and universities across India, US,
 UK, Middle East and Africa.
 
 PROSPECTS IN THE INDIAN EDUCATION SECTOR
 
 It is my f rm belief that the Indian Education Sector (IES) is at an
 inf ection point. It is expected to grow at a strong pace over the next
 few years. 64.3% of the population of India is between the age group of
 15-64 years and it is expected to grow to 72% by 2021. At the household
 level, education is fast gaining importance in line with rise in income
 levels. Share of education in total household spending is estimated to
 increase to more than 9% by FY 25 from 5% at present.
 
 LANDMARK ACHIEVEMENTS
 
 ICT in Government schools has made a signif cant contribution towards
 revolutionising teaching and learning platforms in government schools
 in India.  I am happy to state that at CORE, we witnessed an
 unprecedented year which saw us bag contracts for over 9,000 schools
 under the ICT projects in India.  This not only is a testimony for
 COREs exemplary implementation track record with Governments across
 the world but also a platform to deploy COREs Total School Quality
 Improvement Systems in these schools. In what I believe to be a major
 milestone, CORE has been mandated to deploy School Quality Enhancement
 Programs at 60 Navodaya Vidyalaya Samitis and 25 Kendriya Vidyalaya
 Sangathans. This could pave the way for its implementation across 
 all other Government schools in the country.
 
 OUR FOCUS FOR THE FUTURE
 
 I believe that the next wave of explosive growth for CORE will come
 from India and other emerging markets. With a unique offerings
 portfolio catering to the entire continuum of education, CORE is
 uniquely poised to build new paradigms in Education. To rč ect the
 current business activities appropriately the Board has decided to
 change the name of the Company form CORE Projects & Technologies
 Limited to CORE Education & Technologies Limited, which is being
 placed before the members for their approval. In what we see as a
 culmination of our experience, expertise and eff cacy in offering
 educational solutions, we look to establish Institutes of Excellence in
 K-12 and Higher Education segments.
 
 I would like to thank each and every one of you for your continued
 support in this exciting journey of growth and value creation around
 the world as we
 
 Teach, Learn, Assess and Govern - The CORE way.
 
                                                          Best wishes
 
                                                     Sanjeev Mansotra
                                                           Chairman