ADHIRAJ CONSTRUCTIONS PVT. LTD.

AN OVERVIEW

We are in the business of Real Estate Development. Most of our Projects cater to the housing needs of the middle class segment. However, we have done equally well in Projects built for the elite. Our business model is based on the concept of “Great Homes Affordable Prices”. We treat this business model as our Mission. Each of our completed Projects is a testimony to that belief. To achieve this we do the following:
a. Ensure the right locations.
b. Target a particular customer segment and plan houses accordingly.
c. Ensure buildings in our Projects adhere to good Architecture and aesthetics.
d. Ensure due process is followed while execution of works to guarantee quality and time schedules.
e. Ensure the best amenities are provided within the house and the surroundings.
f. We execute our own Projects. This allows us to add value and ensure standards.
g. Ensure customer care, right from the point that he comes in contact to the time until after possession is given.
h. Ensure our team of Technical marketing and Administrative Personnel remain dedicated to company objectives.
i. Ensure ethical business practices at all times.
j. Keep abreast of viable construction techniques and implement them on site.

It is commonly known that we face a shortage of Housing stock in our country. The downturn in the real estate market after 1995 in fact acted as a catalyst in bringing back the middle class user back to the markets. Lower land prices, Policy changes making housing loans easier, tax breaks and falling interest rates were positive factors for the
markets to grow. With quite a few of the better known developers defaulting on their commitments the directors of the company saw the opportunity for stepping in about 5 years ago.

The planned city of Navi Mumbai was fast taking shape. Clear land titles, reasonable prices and Directors good understanding of that market resulted in our first project at Kharghar “Shree Ameya” comprises 50 residential units. All units were sold out and the Project completed. This Project was completed by existing Company Adhiraj Investment & Finance Pvt. Ltd. After this success, it was decided to form a separate company for construction activity. Adhiraj Constructions was thus formed in 1999. Our second project ‘Nikunj’ at Kharghar was launched. This constitutes 67 units. This is again fully sold and has been completed. ‘Adhiraj Complex’ is our third Project. Land area is 4000 sq. mtrs. The development work for this project is completed and is fully sold as well. This project comprises total 117 units, 92 residential and 25 shops. All our constructions are a benchmark in Kharghar Area for other Developers to emulate. We have recently finished development work on a project at Goa. This is a large sub-division of more than 150 fully developed Plots. This Project is considered one of the finest sub-divisions in Goa. We intend opening sales for this Project in October 2002. We have also done three Housing Projects in the upper class areas in New Delhi, i.e. New Friends Colony, Golf Links and Anand Niketan.

We enjoy tremendous goodwill be it with our vendors / contractors / consultants and most importantly, of our customers. Most of our customers perhaps are our best sales persons. A good percentage of sales occur on customer recommendations. As a matter of policy and the market segment that we cater to all our dealings are only through normal Banking channels.

As mentioned earlier, the group and this company are entirely debt free and profitable. We are pleased to attach a few Site photographs of our completed/under construction Projects at Kharghar.