Dear Shareholders,
 
 It is with great pride that we are reporting the best financial year we
 have ever had by almost all metrics. Your company has consistently
 achieved its highest ever quarters of revenue and profit throughout the
 year, with all guns (services) blazing.
 
 Your Company has ended this year with record revenues and record
 profits. We are pleased to report consolidated revenue of Rs. 304
 crores an increase of 56% from Rs. 195 cr in the previous year. Our
 Profit After Tax has grown by 83 % from Rs. 11.5 cr last year to Rs.
 21.1 cr in FY 10-11.
 
 What makes this growth even sweeter is that we have achieved this with
 a limited contribution to revenue from cloud services, our hottest
 selling service in terms of orders for the last 2 quarters. We are also
 yet to get on stream our additional Data Centre capacity, where
 construction is currently in full swing and we hope to be ready for
 customer occupation by the last quarter of FY 11-12. Needless to say,
 these two areas will be significant growth drivers of the Company''s
 revenues in future.
 
 Your company launched beta Cloud services – PAAS (Platform as a
 Service) in September and in spite of only doing limited advertising
 for the product, once fully tested, we managed to attain a customer
 base of 500 and above. This was also the only fully automated cloud
 platform provisioning system in India at the time, enabling your
 company to position itself as a world class Cloud service provider in
 India.
 
 As in the last few years, we have invested in upgrading our existing
 infrastructure and Research & Development. We have had to hold back our
 plans for entering into IP/MPLS/ VPN services on account of the
 significant uncertainty surrounding the telecom licensing and policy
 environment. The new National Telecom Policy ought to make things a lot
 clearer and we shall proceed with these plans when there is adequate
 clarity.
 
 In the coming year, we will venture into select International markets
 for our web services. Given our current scale, technology platforms and
 future applications in the pipeline, we believe the time is right for
 us to spread our wings. We shall, however, remain true to our style -
 Sales Led Build when it comes to investing in infrastructure.
 
 Although we are very confident of considerable growth over the coming
 years, in this last year we have raised the bar ourselves by our
 outstanding performance. We are acutely aware of the expectations of
 high growth rates and are working even more tirelessly to try and
 achieve it. We shall also look towards inorganic growth in the very
 near future to keep up this pace.
 
 Sincerely,
 
 Jasjit Singh Sawhney
 
 Chairman and Managing Director