PRIME PROPERTY DEVELOPMENT CORPORATION LIMITED
ANNUAL REPORT 2009-2010
CHAIRMAN'S REPORT
Real Estate industry resumed its growth in 2009-2010, after a dismal
previous year. Extremely prudent economic & fiscal measures coupled with
sensitive regulatory initiatives were taken by the Central & State
authorities. These helped India effectively resist the adverse global
financial crisis & post a comfortable net growth in the face of crisis in
major foreign economies.
Your Company has expedited completion of the on-going Mail Project at
Pimpri Pune & has launched a new project at Vile Parle (West), Mumbai.
Pimpri Mail is planned for completion in 2010-2011, & the Vile Parle (West)
Project during the first half of year 2011-2012.
Your Company has also acquired a hotel company at Juhu, Mumbai, for
developing a star graded hotel. This project will take a few years to start
fetching returns. Since there was no new product for sale in the year 2009-
2010, Company's turnover & consequently profit was depressed. The results
in the coming years, however, are poised to improve with the expected
completion of the two projects on hand.
I thank you all for your unstinted support during the difficult previous
year & hope to receive our co-operation in future.
Shri Padamshi L. Soni
Chairman