Despite a challenging environment, slow approvals and rising cost, the
results of financial year ending March 2014 was satisfactory and our
business moved in the positive direction. In regard to the company''s
performance, although total revenues reached the one billion mark on
consolidated basis; profit was impacted by the increased cost of inputs
including development rights, construction cost and financial cost. For
the financial year 2013-14, we clocked sales of 744 flats amidst of
turbulent and recessive market. The year ahead, the business
environment will continue to remain challenging and competitive.
Your company views the mega initiative of the Government to developing
100 smart cities as a landmark installation which will initiate a
beginning of a new era. We await further details and guidelines for the
development of these new cities. Further, the company foresees the
Government initiatives, to promote Affordable Housing and REITS, would
give a big boost to the real estate Industry.
Though the company has a product line in all segments - luxury, mid and
affordable housing, we are focused and committed to affordable housing
in gated communities. Your company which has pioneered prestigious
projects in MMR and Jodhpur regions is hopeful of launching some big
projects in the upcoming year.
Our strategy of working in different municipal localities ensured that
the construction and approval of projects movement in the company
inspite of unavoidable delays from various authorities. The financial
year 2013-14 could see advance stages of construction achievement in
ArihantAmodini at Taloja, ArihantAdita at Jodhpur and project
completion of ArihantAkriti at Badlapur. The Arihan- JtAmisha at
Taloja, ArihantArshiya at Khalapur, ArihantAnmol at Badlapur,
ArihantAarohi and Arihan- tAyati at Jodhpur could see lot of traction
in their starting phase of construction. The projects which would
commence in the year 2014-15 are ArihantAloki at Karjat,
ArihantAkanksha at Panvel, ArihantAnshula&ArihantAnaika at Taloja
Our new initiative, loyalty program Ganadores club for the channel
partners has received a thumping response will ensure us new sales
figures for the company in the coming days.
In Jodhpur, our construction and development activities have achieved
new heights as we have completed the club house De Palo at
ArihantAdita project, Jodhpur. The club house de palo at
ArihantAdita, Jodhpur is one of its kinds and boasts of changing
lifestyle and luxury and I am confident that this would boost the
buyer''s sentiment & in turn sales of ArihantAdita.
On the industrial venture, trial production for the manufacturing of
AAC (Autoclaved Aerated Concrete) blocks has started at Barmer in
Jodhpur. The facility at its 100% operation will produce 1,50,000 cubic
metre of blocks per year.
In the year 2013-14, we have continued the CSR philosophy that
Children''s are the future of the society and they need to be nurtured
with education. Thus our major CSR activity focuses on the Child
Education and we have extended our CSR activities from school to
Youth of today needs to have overall 360 degree development to face
today''s competitive world. Along with Technical Education one needs to
sharpen on the soft skills and personality development for the
challenges of corporate world. We supported Jai NarainVyas University,
Jodhpur for the construction of the Dias & Amphi theatre for Community
Ground and this would go in long run for the students who conduct
various co- curricular activities for their development & the College
Cultural Committee for various cultural programs & events.
We also contributed towards the CM Relief fund, Rajasthan by donating
equivalent amount of the money collected from the auction of drawing
and paintings by kids held at a function The Expres- sions at
Today the Company enjoys high respect in the business community, due to
its business philosophy and transparency in dealings. Assisting the
Company in this endeavor is our eminent panel of independent directors.
Experts in their respective fields, they bring with them a fresh and
unbiased perspective and contribute towards the creation and sustenance
of a robust governance mechanism.
I would like to thank each and every one of our employees, channel
partners, vendors and contractors for their efforts towards the growth
of company as well as the central and state governments and bodies for
I would also like to thank you, all our shareholders, for your
continued support in our journey of delivering consistent, competitive,
profitable and responsible growth.
Proud to be Arihant!
With warm regards,
(Chairman & Managing Director)