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companylogoBEML Land Assets Ltd

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BSE Code : 543898 | NSE Symbol : BLAL | ISIN : INE0N7W01012 | Industry : Construction |


Chairman's Speech

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

   

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