We are an integrated construction and real estate development company, focused primarily on construction and development of residential and commercial projects, in and around Kolkata, West Bengal. Our residential portfolio currently covers projects catering to customers across all income groups. We believe that we have established a successful track record in the real estate industry in Kolkata, West Bengal by developing versatile projects through our focus on innovative architecture, strong project execution and quality construction.
Our Company was incorporated in the year 1996 as Pansari Developers Private Limited, with the vision of providing premium housing at fair prices. The name of our Company was changed to Pansari developers Limited in the year 2016. Presently, Our Company is promoted by Mr. Mahesh Kumar Agarwal, who has over 20 years of experience in the real estate sector. Our Company has grown in size from their rich experience, expert in-sight of the industry and has expanded its operation because of their association with us.
Our Company has demonstrated a prominent presence in execution of real estate projects and has developed significant expertise and competencies in this field. Our Company aim to leverage on its strength and continue expansion into sector which will put our Company to desired growth trajectory. Since the year 2005 our Company has demonstrated strong vision and its ability to capitalize and identity real estate opportunity. Further our Company is currently focusing on opportunities to build a brand in real estate sector. The customers of our Company have been highly appreciative of the developmental activities carried out by our Company, particularly with regards to the speed of execution, flexibility and property management services.
Our Projects are marketed under the brand name of “Purti” such as Purti flower, Purti planet, Purti nest, Purti perch, Purti jewel, and Delux Mall. Our Company focus on developing projects on land held in stock in trade and by entering into joint development agreement & partnerships with parties for development of projects. Our Company intends to exploit the opportunities that are available in the Real Estate Sector and our operations will cover all aspects of real estate development, from the identification and acquisition of land, the planning, execution and marketing of our projects, maintenance and management of our completed developments etc. Our Company may also enter into project specific joint ventures or partnerships with other companies to enhance our credentials. We are working continuously to strengthen our infrastructure, enhance our presence and build capabilities to execute end to end projects on our own.
We outsource architectural and designing team which co-ordinates the entire process of delivering a project from its conceptualization to completion. While conceptualizing a project, we rely on a research-based approach for layout planning, unit size, fittings and interiors, and determining sales and marketing strategies. Depending on the level of competition, regulatory practices and consumer preferences, we alter our development mix and product design to ensure that our products cater to customers across all income groups. We also regularly interact with our customers to receive direct feedback on the quality of our projects.
For the year ended March 31, 2016, our Company’s Total Standalone Income and Restated Standalone Profit after Tax was ` 567.25 Lakh and ` 193.67 Lakh, respectively. For the year ended March 31, 2015, our Company’s Total Standalone Income and Restated Standalone Profit After Tax was ` 1217.03 Lakh and ` 504.31 Lakh respectively, compared to our Company’s Total Standalone Income and Restated Standalone Profit After Tax of ` 1806.87 Lakh and ` 841.91 Lakh respectively, over previous year ended i.e. March 31, 2014.
Our Competitive Strengths
We believe the following competitive strengths contribute to our success and position us well for future growth:
Sizeable and diverse portfolio of projects in Kolkata, West Bengal
We have our projects in Kolkata, West Bengal with diversified portfolio of residential flats in range of 1BHK, 2BHK and 3 BHK for customers across all income groups and spread in all over the city. We therefore believe that our activities in this region will continue to grow substantially which will lead to an increase in the sales, and our business will be able to benefit from it. We also believe that the strategic locations of our projects in high economic growth areas strengthen the stability of our revenue and our ability to close financing arrangements for the projects. We also believe that our ability to manage multiple projects across different geographies in the city provides us with a significant advantage to efficiently manage our growth and expansion.
We further believe that our diverse project portfolio provides us with an advantage in apitalizing on new opportunities available in the sector. Further, diversification helps us in restricting our reliance on any specific region and strengthens our business by reducing the impact, on our business, of any force majeure event in any particular region.
An established Brand name and execution track record
Our Brand name i.e. Purti has establish an accredited name and reputation for quality in the construction industry and we have gained significant experience and have established track record and reputation for efficient project management, execution and timely completion of projects in the real estate sector. We believe that our expertise in successful and timely implementation of projects provides us with significant competitive advantages. The Promoter Group has a strong presence in the real estate market at Kolkata, West Bengal which provides us with significant competitive advantages.
Experienced Promoters and efficient Management Team
Our Company is managed by a team of professionals led by Mr. Mahesh Kumar Agarwal who has been associated with the construction industry for 2 decades. Our Promoter and our Key Managerial Personnel have the requisite educational qualifications and experience to manage the current scale of business as well as the expansion plans for the future.
Further, we have the key competencies and resources to deliver a project from its conceptualization stage to completion stage. Our present management and architectural teams facilitate efficient operations and ensure consistent quality across all of our projects. Our project management team is involved in gathering relevant market data, assessing the potential of a location after evaluating its demographic trends and identifying relevant government schemes and incentives. Our marketing and sales team is in charge of operations, marketing and sales, business development and strategic planning and has good experience in the industry. We have developed relationships with third-party contractors and suppliers through working on multiple projects, and have experience in working with regulatory authorities. We believe that the familiarity and knowledge we have, of the market and regulatory environment in Kolkata assists us in various aspects of our business.
The Net Worth of our Company as on March 31, 2016 is ` 4182.31 Lakh, which will allow our Company to undertake higher value projects. This assumes significance when we take into account that the partnerships and Joint ventures with leading infrastructure companies.
Quality Assurance and Standards:
We believe in providing our customers the best possible quality by constructing flats of better quality. Quality standards followed right from the beginning were stringent, and adhere during the process of construction of projects. We are very particular from usage of right quality of material for construction. Our dedicated efforts towards the quality of material have helped us gain a competitive advantage over others. We believe that our quality construction have earned us a goodwill from our customers.
Our objective is to enhance our market leadership among real estate companies and deliver superior profitability. In order to achieve our goals, we plan to pursue the following strategies:
Continue as Maintenance Agencies after completion of project
As compared to most of the builders, whose roles end upon completing a project and handing-over the possession of flats to buyers, we intend to continue as maintenance agencies for the complex in order to derive the twin benefit of maintaining a certain standard of living in the society and also generate revenues from the provision of utilities and facility management services. All other infrastructure apart from residential flats, like club house, library, vistor’s room, gym facilities, banquets etc. shall be provided by us, which will enable us to maintain the overall standard of living of the locality and also bring in steady income. Further, our presence as maintenance agencies in the society will give us the leverage to be an integral part in any decision-making processes pertaining to the society in the future, such as re-development of the buildings, etc.
Reduction of funding costs
We source funding for our projects primarily through unsecured loan and loan from Non Banking finance Companies. We intend to continue to evaluate various funding mechanisms which will enable us to enhance our credit rating and in turn reduce our borrowing cost and improve our liquidity position. Further, we will explore options for refinancing certain of our loans to lower our borrowing cost and improve cash flows. Also in future if our requirement for fund increases we explore various options from financial institutions and banks at competitive rates which may not increase our borrowing cost.
Improve performance and enhance returns from our core business
We will continue to focus on maximizing returns from each of our projects. In order to continue to improve performance and enhance returns from our residential and commercial projects, we intend to:
Adopt the best of the evolving technologies in collection of construction and other business processes,
Continue to complete Residential & Commercial projects on or before time to increase revenues.
Attracting and retaining the highest quality professionals
In service industry employees are the most valuable asset of the company and the reputation of the company will be built up by the management team. The dedication of the employees, professional skill, integrity and technical analytical mind results in success and growth of business. The well informed, technically and professionally qualified employee will help the clients to take correct decision and thereby we can retain the clients and increase our clientele through mouth to mouth publicity of our company. We intend to continue to seek out talent to further enhance and grow our business.
Optimal Utilization of Resources
Our Company constantly endeavors to improve our service process, and will increase our construction activity to optimize the utilization of resources. We have invested resources, and intend to further invest in our activities to develop customized systems and processes to ensure effective management control. We regularly analyze our existing policies to be carried out for operations of our Company which enable us to identify the areas of bottlenecks and correct the same. This helps us in improving efficiency and putting resources to optimal use.