Dear Shareholders,
 
 Business is not just about doing great deals. Business is about having
 great products, providing tremendous service to customers, safeguarding
 the interest of stakeholders and valuing the efforts put in by
 employees.  Finally, business is a cobweb of human relationships.
 
 We at KPDL, value human relationships! We have always focused our
 efforts on nurturing our relationships with our Customers, Employees,
 Shareholders, Vendors, Suppliers, etc.
 
 KPDL has always strived to deliver quality to its Customers without
 compromising on deadlines. Project executions are now faster than ever
 before due to the implementation of modern techniques of construction
 such as Aluminum Formwork Techniques. This technique is simple, fast,
 adaptable and cost – effective for the construction of residential
 units and mass housing projects. We have also made concentrated efforts
 to make all our projects Eco-friendly to reduce our carbon footprint.
 
 We believe that employees are the real driving force and the secret of
 KPDLs stupendous growth. In order to ensure the development and
 stimulation of our workforce, we have revamped our Human Resource
 Policies and have organized several training programs and events that
 bring the employees together which enhances productivity and creates a
 positive work environment.
 
 We have also formulated and adopted Standard Operating Procedures
 which have been introduced to ensure the streamlined and improved work
 practices. We have always endeavored to adapt and implement best work
 practices.
 
 Our economy is still recovering from the setback it had received during
 recession and the development at macroeconomic level is still slow, but
 KPDL has grown steadily even in these adverse conditions. The faith
 reposed in KPDL by its Shareholders is the testimony to KPDLs growth.
 
 In a bid to make our tomorrow better, we have evolved a Corporate
 Social Responsibility Program which is proposed to be implemented from
 the fiscal year 2011-12. We propose to address several social causes
 such as illiteracy, heath camps, tree plantations, etc.
 
 As someone wise once said, While it is well enough to leave footprints
 on the sands of time, it is even more important to make sure they point
 in a commendable direction! KPDL in its journey of twenty years has
 left behind many footprints while delivering creations of unmatched
 standards! This has been possible with your support and I would like to
 thank you for making our journey of twenty years a success.
 
 With best regards,
 
 Sd/-
 
 Rajesh Patil
 
 Chairman and Managing Director