Suratwwala Business Group Ltd

We've made strategic investments to position ourselves as the leading real estate player in the Pune region and ensure sustainable returns for our stakeholders in the future.

Dear Shareholder's,

I'd like to begin by expressing my sincere gratitude to all of you for continuing to place your trust in Suratwwala Business Group Limited, and enabling us to move forward successfully in our pursuit of excellence. Your faith in us allowed us to report another year of commendable performance, and we look forward to building on this foundation in the years ahead.

As I reflect on the past year, I am filled with pride and optimism about SBGL's journey and the exciting future ahead. With a legacy of only 16 years, we have been successful in creating a brand name Suratwwala Group.

In FY24, we continued to uphold this brand identity with more vigour and enthusiasm. In this backdrop, the organization has demonstrated the courage to "Unlock Value" not just for the company but also for the entire stakeholder community. Keeping this in mind, we started to execute on many of our strategic pivots that will put SBGL on the path of "fast paced value building growth" This pivoting has also timely given favorable macro-trends pointing to a strong and sustained growth trajectory for investments in the residential and commercial construction sectors and the green energy sector in India.

FY24 has been a year of notable achievements for Suratwwala Group. We've diversified our order book, expanded into new sectors, and delivered strong operational performance. Our strategic transformation over the past few years has taken us beyond our traditional commercial and residential construction segments into renewables. With the Indian government's strong focus on the construction sector and robust economic growth, there are significant opportunities for companies like ours. We've made strategic investments to position ourselves as the leading real estate player in the Pune region and ensure sustainable returns for our stakeholders in the future.

Performance review

At a consolidated level, SBGL reported revenue of Rs.7,261.38 Lakhs, with an EBITDA of Rs.3,915.97 lakhs and PAT of Rs.2,780.04 Lakhs for FY24. Within this consolidated picture, our construction segment delivered steady performance in FY24, with robust sales growth across segments. Despite the pricing pressures and growing competition, we grew our topline and bottom line by 16.25% and 31.33% respectively compared to the previous year. Our relentless focus on driving operational efficiencies and continuous improvement in cost structure meant our profitability improved across most segments.

Operational Highlights, Unlocking Value

In the fiscal year 2024, we experienced remarkable growth and diversification in our order book. As of March 31,2024, our order book stands at an impressive Rs.7,201.22 lakhs. Our ongoing commercial project, Suratwala Mark Plazza Tower C D E - Tower of Dreams, is progressing smoothly, and we aim to deliver it on schedule or even ahead of time.

Our strategy

At SBGL, we have outlined a strategy to leverage our competitiveness on the one hand and capitalise on emerging opportunities on the other.

For one, our geographic focus will continue to be Pune in view of the large user-driven market of the region, growing IT investments and industrial investments that are catalysing the real estate demand.

Two, we would continue to explore new related business opportunities in promising sectors through strategic partnerships as EPC player.

Three, the combination of PPA and EPC modules in the solar energy business would be another focus area as it is expected to translate into attractive annuity revenues.

Four, we would continue to focus on maintaining the highest standards of project execution, ensuring timely completion and adherence to the highest quality standards.

Five, we recognise the importance of technology in enhancing efficiency and productivity. We will continuously invest in innovative solutions to optimise project delivery and remain at the forefront of the real estate development landscape.

ESG focus

At Suratwwala Business Group Limited, we firmly recognize and value the significance of incorporating environmental, social, and governance (ESG) factors into our business practices. We would continue to focus on reducing carbon emissions, conserving invaluable natural resources, empowering local communities, and encouraging ethical business practices.

I want to take a moment to sincerely thank our employees for their dedication and hard work. Your efforts have been the driving force behind the Company's success, and we wouldn't be where we are today without all your efforts.

I want to take a moment to sincerely thank our employees for their dedication and hard work.

Your efforts have been the driving force behind the Company's success, and we wouldn't be where we are today without all your efforts.

I also extend my appreciation to our esteemed stakeholders, including our clients, partners, contractors, investors, bankers, auditors, and vendors for their continued trust and support. As we embark on a new fiscal year, we are confident that SBGL is well-positioned to achieve sustainable growth and unlock longterm value for all our stakeholders.

Sincerely,