Dear Friends,
 
 At Puravankara, we have always tried to celebrate joy and happiness
 that stays for generations. Our customers affirm for superior
 functionality, aesthetics and construction quality we provide and the
 same has gone a long way in making Puravankara one of the most credible
 and respected brands in the real estate sector in India. While our
 credo in both the high-end luxury segment and the affordable segment is
 well established, in the era of fast changing business dynamics,
 sustaining growth is one of the biggest challenges today. I am of the
 opinion that to foster growth, execution and implementation would be
 the key to our continuous success.
 
 Celebrating 35 years of excellence in the Indian real estate market,
 our Company is standing at a very interesting juncture of its growth
 path. The impetus behind our reputation and superior market positioning
 stems from our single-minded focus to create that distinctive edge in
 all our brands. To achieve this and to be ahead of competition, the
 most important factor has been how we handle the execution and
 implementation of our projects. Your company has achieved a sizeable
 scale now, however going forward we have a much larger plan and
 accordingly we have identified factors that play a vital role in
 improving our efficiency at all levels.
 
 As I had said before, we are constantly improving our delivery
 capabilities and are taking care to enhance our technological
 capabilities for our in-house construction operations. We are currently
 executing 25 million sq. ft.  of projects across the cities of
 Bengaluru, Chennai, Coimbatore and Kochi. We are aggressively looking
 at expanding into newer markets with a clear aim of becoming a Pan
 India player by the close of this decade.
 
 In the last one year, with a renewed focus across functional areas, we
 have drawn up our key result areas for each of our verticals. Efforts
 are on to re-structure the organization design besides the systems and
 processes which are being put into place. Acknowledging the intensity
 at which we work, we are clearly defining the qualitative and
 quantitative results that must be achieved within the stipulated
 timeframe. This requires timely formulation and implementation of
 detailed action plans for each vertical, clearly defining the roles and
 timelines, which each member of our management and staff of the group
 are working towards.
 
 Achievement and accomplishment are among the most satisfying pleasures
 of all. Finishing a project on time and within budget, improving
 product and service quality, outshining the competition with a new
 idea, all these give delight and define success. Keeping this as the
 strategy for our coming years, we are poised to scale up our project
 execution and marketing capabilities at an aggressive pace and unlock
 the underlying potential of our Company.
 
 At Puravankara, we have been privileged to have the profuse trust
 andsupport of all our stakeholders. Iwould like to thank each one of
 them for their continuing belief in our capabilities. I look forward to
 your continued and trusted companionship on our journey forward.
 
 With best regards,
 
 Ravi Puravankara
 
 Chairman and Managing Director