This fiscal our results reflect a gratifying year of consolidation,
combined with growth, and continued excellence in execution. We are
also poised to explore newer markets in our Real Estate business and
have added new clients to our prestigious list of Contractual
customers.
Our continued focus on consolidation resulted in a net reduction in
debt by 2,430.70 million rupees and a debt to equity ratio of 0.65 as
on March 31, 2011 as compared to 0.85 at the beginning of the Fiscal.
This was largely possible because we generated an operating cash flow
of 4,143.60 million rupees which supported the repayment of loans
during the year.
On the growth front, our top-line this year, the highest in the history
of our company, grew at 30.82 percent to 14,643.15 million rupees. We
have continued to maintain our EBITA margins at 21 percent in spite of
increasing input costs in our industry.
FISCAL 2011: A YEAR OF CONSOLIDATION AND GROWTH.
We, this year, have successfully completed and handed over 4.12 million
square feet of residential space, and delivered 2.20 million square
feet of contracts. Our legacy of 16 years of superior execution are
endorsed by 262 projects measuring 42.68 million square feet. Of this,
67 percent is completed from just the last 5 years. This speaks
volumes of our scaling in execution capabilities.
Our excellence in execution have once again been recognized with an
award from CNBC Awaaz for our outstanding Sobha Daffodil project in
Bangalore. Builders Association of India and Architects, Engineers and
Surveyors Association in Pune, have awarded our design and build
project - Food Court 3, for our long- associated customer, Infosys. We
are also proud to have completed to our credit, a LEED platinum eco-
commercial building for our client, Bayer, in Noida.
SOBHA IS ADMIRED FOR SUPERLATIVE DELIVERY CAPABILITIES.
Of course, we have no intention of resting on our laurels now. We
continue to seize opportunities for the future growth of our company,
and have launched 4.30 million square feet of residential space, and
have confirmed 11.48 million square feet of contractual orders to be
executed. We are poised to move into newer geographies during the
coming year, and plan on systematically scaling our operations, taking
advantage of our strong execution track record.
Over the past 16 years, one key attribute to the milestone rise of
Sobha is our stringent focus and attention to details in every element
of our business. It is this passion for perfection that drives us to
deliver the best time and again. We are a team of more than 2,200 that
believe and strictly follow the doctrine that even the smallest
consideration makes the largest difference.
WE BELIEVE
DETAILS MAKE THE DIFFERENCE.
Our investments in state of the art manufacturing units - Interiors,
Glazing and Metal work, and Concrete products have further enhanced our
ability to embrace our culture of detailing.
On our social responsibility initiatives: at our Sobha Academy,
Hermitage and Health Care we spend considerable effort on all the finer
aspects to ensure we provide best-in-class facilities, and make optimum
utilization of these centers for the benefit of our society.
The task at hand, now and in the future, is a sustained focus and sharp
eye for detail in our journey to deliver the best.
Yours sincerely,
PNC Menon
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