Dear Shareowners,
+ I have pleasure in presenting this 3rt Annual Report of BEML Land Assets
Limited (BLAL). As you are aware, the Government of India is in the process of strategic
disinvestment of 26% of its equity stake in BEML Limited with transfer of management
control. To facilitate disinvestment process of BEML in an effective, efficient, and rapid
manner and to unlock the value of the business and the assets, the Non-core / Surplus
Assets of BEML are separated and kept in your Company. Subsequently, BLAL has become an
independent entity after issue of shares in the ratio of 1:1 to the shareholders of BEML,
whose names were recorded in the Register of Members on 09.09.2022. Further, the said
shares were listed on both stock exchanges, BSE & NSE and trading has started on
19.04.2023.
I am happy to inform you that your Company has been conferred with Schedule 'C' status
on 22.01.2024 by Ministry of Defence in pursuance of Department of Public Enterprises
Office Memorandum dated 11.12.2023 regarding Categorization of new CPSEs, and CPSEs
created for asset management of disinvested CPSEs.
+ With the Government persistently implementing supportive policies and streamlining
regulatory frameworks, the real estate sector is poised to assume an increasingly vital
role in shaping India's future growth trajectory. By fostering a robust and sustainable
real estate ecosystem, the nation can harness its demographic dividend and pave the way
for a prosperous and inclusive future. Amidst India's ongoing economic growth and the
aspirations of its burgeoning population, the role of the real estate sector remains
pivotal in job creation, infrastructure development, and overall economic progress. We are
optimistic that, once the operations of the Company start, the management will evaluate
the options for development or outright sale of land parcels etc., which will record our
presence in industry and will increase your Company's market capitalisation. In this
connection, your company has initiated the process of registration of title deeds of
properties.
Before I conclude, I express my deep gratitude to Government of India, Administrative
Ministry, DIPAM and other stakeholders who have placed their trust and confidence in us.
I also wish to take this opportunity to place on record my sincere thanks to my fellow
Board members and employees. Your Company will embrace the new challenges that lie ahead
and capitalize on the opportunities that come in our way.
With best wishes,
Sd/-
Shri Shantanu Roy
Chairman and Managing Director