Kolte-Patil Developers

This is my first communication to you after the IPO and I welcome you
 all to the KPDL family. The year 2007-08 was a landmark year for KPDL,
 with the Company’s IPO being amongst the most successful last year,
 getting oversubscribed more than 45 times. The IPO has added to the
 Company’s strength. To deliver. To grow. Your Company believes that if
 you have the vision, the passion and the determination, you can achieve
 anything. KPDL too has a vision. To be the leader in the real estate
 sector in the country. And the opportunity for this is huge.
 
 The Indian economy is on a structural uptrend and is expected to grow
 at around 8.5% per annum for the next few years. The buoyant growth in
 the economy, favourable demographics, rapid urbanization and a
 liberalized Foreign Direct Investment (FDI) policy have stimulated
 demand for land and developed real estate across all segments. Growing
 at an average annual rate of around 30%, Real Estate is amongst the
 fastest growing sectors today.
 
 With India’s rapid growth, cities like Bangalore, Hyderabad, Chennai,
 Pune, Nagpur and Indore have emerged as growth centres with companies
 from all over the world looking at investing in these cities. This has
 led to a substantial increase in the demand for new offices and homes
 in these areas. Taking cognizance of this opportunity, your Company is
 expanding its operations to cover all these cities. KPDL also plans to
 make a foray into the international real estate market and in line with
 this, the Company has set up its presence in Dubai.
 
 SEZs and large scale composite townships are going to be high growth
 asset classes in the future. Over the last decade and a half, the
 Company has established its position as a prominent player in the
 residential and commercial segments of the real estate industry. It has
 acquired a reputation for consistently delivering very high quality
 construction at affordable prices. KPDL plans to leverage this
 experience and expertise to take on large scale SEZ and township
 projects where size, quality, affordability, sustainability, project
 management and execution are key factors.
 
 The hotel sector in India has failed to keep up with India’s
 exponential economic growth and there exists a substantial
 demand-supply gap. The result has been high room rates and low
 availability across major cities in India. Your Company believes that
 the country needs a large number of good quality hotels and serviced
 apartments. With land bank in significant locations and expertise in
 development, your Company has decided to aggressively participate in
 this opportunity.
 
 KPDL has constantly innovated to grow. The Company offers end-to-end
 solutions i.e. from construction to maintenance to facility management
 of all its projects. The Company has also constantly invested in
 advanced construction techniques and in bringing new delivery models to
 India. One of the Company’s major initiatives has been its partnership
 with its investors. Partnerships help the Company grow more and reduce
 its risks on projects. Besides, as both partners understand the value
 added by the other, they partner more projects.  It’s a virtual and
 mutually beneficial circle. Thus, the Company has three joint ventures
 with ICICI Venture Funds Management Company. The Company has also
 partnered with K2A Residential Limited (a subsidiary of Yatra Capital,
 UK), Arora International and Arista Properties on various key projects.
 
 Your Company’s ability to think big, grow and create value is
 inseparably linked to its in-house talent pool. KPDL hires talent from
 different verticals to broaden its knowledge base. It is because of its
 team that your Company has reached here and is contemplating scaling
 newer heights.
 
 Conservation of the environment is also an important value at KPDL. The
 Company is adopting eco friendly sustainable construction techniques in
 all its projects. On this basis, your Company is qualifying for the
 “GREEN HOMES” certification by Indian Green Building Council (IGBC),
 the only authority in India following the norms laid down by LEEDS, an
 international organization for certification of industrial and
 commercial projects.
 
 Before I conclude, I want to thank every customer, partner, employee
 and investor for trusting us. We assure you of continuous growth and
 leadership.
 
                                                    Sincerely,
                                                   Rajesh Patil
                                         Chairman & Managing Director