Crest Ventures Ltd

Dear Shareholders, Partners, and my Team Members,

As we reflect on the past year, it is with immense pleasure that I present to you the Annual Report for Crest Ventures Limited ("Crest") for the financial year 2023-24. This year has been a remarkable journey marked by significant achievements, strategic advancements, and a relentless pursuit of excellence across all our operations.

The financial year 2023-24 has been a year of robust growth and transformative initiatives for our company. After the sale of our stake in Classic Mall Development Company Limited (Phoenix Marketcity, Chennai) in the previous financial year, we have undertaken strategic expansion efforts that have allowed us to venture into new markets and diversify our portfolio, ensuring a balanced and resilient business model. In the Real Estate vertical, we continue to leverage our strengths in planning, execution and capital management to build some marquee projects in Mumbai, Jaipur, Chennai and Raipur. We have developed some key partnerships in Mumbai which have allowed the Company to secure projects in various landmark locations while being capital efficient. Looking at the vertical's growth trajectory, the company has hired top quality talent in various divisions to better manage our increasing number of projects. We believe that with our healthy pipeline of projects we will be able to establish our brand in the premium and luxury segments of residential real estate. In the Financial Services, Investments and Credit vertical, we have delivered consistent profits and focused on risk management. Our debt broking division continues to dominate market share and launched operations in GIFT city as well. Over the past year we took some strategic decisions and unlocked value in our recent investments. We have also built a healthy credit book which lends against the projects we are developing in partnerships. This gives us flexibility and provides adequate capital to ensure timely execution of projects while providing good returns on our capital.

On a consolidated level, Crest reported a net profit of 62.08 crores, maintained a healthy debt-equity ratio of 0.18, increased its net worth over 1100 crores and delivered an EPS of 21.33. Our operational efficiency and prudent financial management have contributed to these achievements and underscores our commitment to creating sustainable value for our shareholders. Our people are our greatest asset, and fostering a culture of inclusivity, growth, and development remains a top priority. Our team has grown in various departments and this year we launched several initiatives aimed at enhancing employee engagement, professional development, and well-being. As we look towards the future, we remain steadfast in our vision of building high quality projects in a timely and efficient manner. The coming year presents exciting opportunities, and we are well-positioned to capitalize on them with our strategic initiatives and strong foundation. Our focus will continue to be on delivering and executing our pipeline of projects while being financially judicious.

I extend my deepest gratitude to our shareholders for their unwavering trust and support, our partners for their collaboration and commitment, and our employees for their dedication and hard work. Together, we have built a resilient and forward-looking organization poised for continued success. I am confident that Crest will continue to thrive and deliver value to all our stakeholders.