PERSPECTIVE
Dear Shareholders,
Looking back at fiscal year 2022, we take great pride in the fact that
despite challenges, our accomplishments were quite remarkable. While the effects of the
pandemic, clubbed with soaring inflation and geopolitical instability continued to disrupt
and delay our operations, it also introduced rapid transformations.
Since the onset of the pandemic in early 2020, the real estate sector
has shown great resilience and has posted healthy growth in fiscal 2022. As the economic
growth rebounded, interest in real-estate has been renewed. Additionally, historically low
home loan interest rates and structured reforms such as GST and RERA are restoring
confidence in buyers as well as developers.
The Government of India has also supported the sector with favourable
reforms and policies. The announcements made in the Union Budget 2022-2023 will also
contribute towards positive sentiments. The increased focus on affordable housing is also
attracting a large number of home buyers towards the residential property market. It is
expected to keep the real-estate sector as a whole buoyed with plenty of emerging
opportunities.
As per the market evaluation report by Knight Frank, highest domestic
real estate sales volume was witnessed in Mumbai, in Q4 of FY22. Delhi-NCR, on the other
hand, recorded the highest year-on-year (Y-o-Y) growth in sales volume of new homes during
the same period. Moreover, offices and commercial spaces across the country have reopened
after the lockdown in 2020-21, resulting in greater traction for commercial real estate as
well.
At Capacit'e, we focused on acquiring new orders, strengthening our
relation with existing clients, building robust execution capabilities and fortifying our
balance sheet. Our order book remains robust with several bids in pipeline. We believe,
the strength of our new as well as existing clientele will enable us to maintain strong
top and bottom lines and manage commodity risk appropriately.
We also remain mindful of our social and environmental obligations. To
fulfil our objectives, we continue to prioritise our ESG goals and strive to build a
sustainable business by creating a harmonious relationship between people, communities and
natural resources. We also adopt measures to ensure energy efficiency and responsible
waste management practices to minimise our environmental footprint.
Despite the market volatility, we remain poised for the future with a
strategic focus on corporate governance, strong execution and delivery. At Capacit'e, we
are also optimistic about our ability to manage our working capital efficiently, while
following stringent cost optimisation measures.
Before I conclude, I would like to thank our customers for trusting us
with their projects during a highly uncertain year. We will continue to do our utmost to
serve their needs and alleviate disruptions. I would also like to thank our employees,
suppliers, shareholders and other stakeholders for their continued support and trust in
us.
Looking forward, we are on track to deliver robust value for all our
stakeholders!