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Dear Fellow Stakeholders,
Success of a company primarily depends on its ability to consistently grow in a sustainable way. We, at Oberoi Realty, are committed to building a financially prudent, sustainable and a transparent company; one which will last its lifetime and continue to create value for its stakeholders for many years to come.
The journey is long and our challenges could be global or local, macro or micro, from within or outside the sector. This very nature of the business brings phases of market cyclicality, which in turn present opportunities to our company. Whatever the situation, we will continue to follow our philosophy of 'aggression with caution'. Our growth will also depend on our ability to attract the best capital, investors and talents for the company. And for that, our competition is not just within the sector. Therefore, we continue to learn from leading organisations globally, adapt best practices and evolve as an organisation.
We believe that our customers' faith in our brand is one of the key reasons for our growth. Currently, the preference of buyers in the real estate sector in India, especially in Mumbai, is undergoing a transformation as they are becoming progressively more aware of what's happening around the world. The modern urban Indian buyers are earning more, travelling the world and as a consequence, their desire for quality is increasing. In a city like Mumbai, which has a huge demand for quality housing, the consumer is willing to pay a premium for a better quality home and amenities that upgrade his lifestyle. Besides, factors like easy access to capital, higher disposable income, a growing economy and, most importantly, aspirations of a better life are the key drivers for the demand of premium housing. These factors, coupled with the traditional Indian mindset of considering investment in real estate to be a prudent decision, continue to fuel demand for housing. Additionally, we have witnessed that consumers are willing to put their money on developments, which are at the right location and the right price by a trusted developer.
At Oberoi Realty, there is a significant alignment of our business model with these emerging trends of our consumers. We have consciously selected locations to create premium developments and we partner with leading international consultants and contractors to plan and execute them. As an organisation, we constantly focus on making Oberoi Realty, a knowledge–driven, customer–centric and innovative company which provides for tomorrow's conveniences today.
We will continue our journey of value creation for all our stakeholders over the long run with your continuous support and faith in us. I thank you for resting your trust on me and providing me the opportunity to lead your company in this very dynamic industry.