CHAIRMAN & MANAGING DIRECTOR'S MESSAGE
Dear Shareholders,
Your company continues its focus on Commercial real estate leasing and facility
management catering to IT companies. This sector has gone through tremendous change in the
last few years due to COVID-19, and we're servicing the change on the ground level. The
Sector has seen robust growth and our team has come together along with our clients to see
better occupancy in our facilities. We are also constantly evaluating diversification into
higher yield assets and opportunities.
We have been able to drastically reduce our debt by monetizing our manufacturing land
assets. These are non-core assets that don't relate to the commercial leasing business.
This has transformed our PnL, and allowed us to generate profits and cash to pay dividends
to our shareholders. Our goal is to utilize borrowed funds only to enhance our return on
equity in our rental yielding commercial real estate assets and to look for higher yield
asset opportunities.
Looking toward growth and future investments we continue to track the legal progress of
the resolution plan approved for the acquisition of Sharan Hospitality Pvt Ltd. (SHPL).
This is taking sometime in the legal system and we'll keep the stakeholders posted on any
change in status.
With your support we look for new investment opportunities. We are grateful to our
bankers for their ever so stable support and partnership.
I would like to thank all shareholders, employees, customers, bankers and business
associates for their valuable support and look forward to continued encouragement in our
mission of Building India.
On behalf of fellow Directors and Majestic family, I sincerely appreciate the faith and
trust that you have bestowed on us during the last year.
Stay safe & healthy
Best wishes,
Mahesh Munjal
Chairman & Managing Director.