Oberoi Realty Chairman's Speech > Engineering - Heavy > Chairman's Speech from Oberoi Realty - BSE: 533273, NSE: OBEROIRLTY

Oberoi Realty

BSE: 533273|NSE: OBEROIRLTY|ISIN: INE093I01010|SECTOR: Construction & Contracting - Real Estate
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« Mar 14
Chairman's Speech (Oberoi Realty) Year : Mar '15
Dear Shareholders,
 The Indian electorate mandated the new government at the centre to
 create a strong foundation by restoring the economic momentum, bringing
 forth transparency in functioning, cutting the bureaucratic red tape,
 ushering in key legislative reforms and steering the country towards
 good governance. In the first year, the government has been able to set
 in place an enabling environment pivoted around aligning national
 priorities with entrepreneurial interests. Through this clear linkage,
 the government has created a level playing field for responsible
 companies to thrive and succeed.
 Anchored on our core values and led by a team of people, driven by a
 deep passion to make a visible difference and led by the rich heritage
 of our brand, your company has focused on creating robust foundations
 for sustainable future growth. This ambition was evident in the key
 developments of 2014-15 during which we built on our existing
 initiatives as well as scouted for opportunities for developing future
 growth platforms.
 The high point of the year was the receipt of all clearances for our
 Mulund project, which paved the way for a formal launch in January
 2015. The project received a heartening response with over 200 bookings
 registered on the first day itself. As on 31 March 2015, we cleared
 almost 20% of the total project inventory. This achievement is a
 validation of our time-tested value-creation strategy of developing
 projects at attractive locations, conceived and developed by the best
 global and local talent, creating apartment configurations appealing to
 various segments as well as equipped with most lifestyle amenities and
 ensuring availability at appealing pricing propositions.  Besides, this
 project was also our gateway into the central suburbs of Mumbai and has
 exposed us to a lot of insights that we have institutionalized for
 future reference.
 During the year, we were also able to successfully complete the
 acquisition of the Borivali (East) property.  Strategically located on
 the Western Express Highway, proximate to most major landmarks of the
 city, we look forward to a launch in the next few months.
 I am delighted to state that our iconic mixed-use Worli property has
 crossed 60 floors and the evident construction visibility has generated
 a tremendous response for this ultra-luxury skyscraper. Ritz-Carlton,
 our partners celebrated for the sophisticated and legendary
 hospitality, have already been on-boarded and will provide bespoke
 services to the residents. We expect to commence awareness-building for
 this property and intend to have our show flat ready before the festive
 season, helping customers simulate living in this iconic high-rise.
 High standards of corporate governance are central to the effective
 management of the business and maintaining the confidence of our
 stakeholders. The other bedrock of our enterprise is our culture that
 represents customer centricity, teamwork, quality, passion, integrity
 and transparency. We live by the essence of these values every single
 day and during 2014-15, even wove them into the formal appraisal system
 by which they can be quantified, recognised and rewarded.
 We will continue to steer our enterprise in a direction that will
 maximize value for our shareholders and stakeholders.  We will continue
 and reinforce our execution strategies to scale up of our operations,
 and leverage international partnerships as well as cutting-edge
 technologies. We will increasingly look to strengthen our pipeline
 through scouting for opportunities that align with our development
 philosophies and blend with our financial prudence.  Depending on the
 opportunities, your company will explore and utilize all possible
 funding options through debt or equity or a mix of both, as may be
 appropriate in the circumstances.
 As always, I am grateful to you all for the faith that you reposed in
 me and the responsibility that you have entrusted me and my team with.
 Best wishes,
 Vikas Oberoi
Source : Dion Global Solutions Limited
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