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    Khush HFL - Annual Report March 23

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    shivabharath.sugali

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    Khush HFL - Annual Report March 23

    Uploaded by

    shivabharath.sugali
    68 views55 pages

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    Khush HFL_Annual Report March 23

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    68 views55 pages

    Khush HFL - Annual Report March 23

    Uploaded by

    shivabharath.sugali

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 55

    Khush Housing Finance Private Limited

    ANNUAL REPORT
    2022-23
    CORPORATE PROFILE

    COMPANY DETAILS

    Name of the Company Khush Housing Finance Private Limited


    Corporate Identification No. U65910MH2011PTC221255
    Registered Office 810, 8th Floor, Aura Biplex, S V Road,
    Above Kalyan Jewellers,Borivali West
    Mumbai 400092

    BOARD OF DIRECTORS

    Shri. Amit Magia, Managing Director


    Smt. Kiran Magia, Non-Executive Director
    Shri. Prakash Mallya, Independent (Non- Executive) Director
    Shri. Abhishek Pacheria, Independent (Non-Executive) Director
    Shri. Geoffrey Bazzan, Non-Executive Director

    AUDITORS OF THE COMPANY

    Statutory Auditors - M/s Rohit Kore & Co., Chartered Accountants


    Secretarial Auditor- GB & Associates., Company Secretaries
    Message from the Managing Director

    Dear Shareholders,
    I hope this message finds you in good health and
    high spirits. As the Director of KHFL, I would like to
    take this opportunity to provide you with a
    comprehensive update on the state of the company,
    as well as the broader economic landscape.

    Despite the challenges posed by the ongoing COVID-19 pandemic, we remain


    steadfast in our commitment to our shareholders and the future of KHFL
    The global economy has shown signs of recovery since our last communication, with
    several major economies witnessing growth and stability. However, India has
    experienced its fair share of hardships due to the pandemic, causing disruptions in
    various sectors. Nevertheless, the country's resilience and adaptability have positioned
    it for a strong rebound in the post-pandemic era.
    The ongoing tensions between Russia and Ukraine have created geopolitical
    uncertainties, impacting global markets. As an organization, we are closely monitoring
    the situation and its potential implications for the global economy. We will continue to
    navigate any potential risks while ensuring the best interests of our stakeholders.
    Interest rates have been a crucial factor influencing the housing finance industry.
    Globally, interest rates have remained relatively low, providing impetus to the real
    estate and housing sectors. In India, the Reserve Bank of India (RBI) and the National
    Housing Bank (NHB) have implemented measures to maintain an accommodative
    monetary policy, promoting economic growth and easing liquidity.
    The RBI and NHB have been instrumental in setting guidelines and policies for housing
    finance companies (HFCs) like ours. Their supportive measures aim to enhance the
    liquidity position of HFCs, encourage responsible lending practices, and promote
    financial stability in the housing sector. KHFL remains committed to adhering to all
    regulatory requirements and contributing to a robust housing finance ecosystem.
    The housing finance industry in India has witnessed a mixed bag of developments over
    the past year. While the initial months were challenging due to lockdowns and
    restricted economic activities, the sector gradually regained momentum as restrictions
    eased. With the government's focus on affordable housing and various initiatives to
    stimulate demand, the housing finance industry holds immense potential for growth
    and stability.

    “We remain confident in our ability to adapt, innovate, and meet


    the evolving needs of our customers” – Amit Magia
    We anticipate several exciting trends in the housing business that will shape our
    industry's landscape in the coming years. The digital transformation of processes and
    services will play a pivotal role in enhancing customer experience and improving
    operational efficiencies. Furthermore, sustainability and environmentally conscious
    practices will become integral to the housing sector, as individuals and organizations
    increasingly prioritize eco-friendly living options.
    Due to the prevailing uncertainties and market conditions, KHFL has experienced a
    relatively slower pace of business operations in the current year. However, I assure you
    that our team has been actively strategizing and exploring opportunities to bounce
    back. We have implemented cost optimization measures and refined our business
    strategies to ensure a strong comeback.
    Looking ahead, we anticipate a resumption of our business activities post-September
    2023, when we expect market conditions to stabilize further. We remain confident in our
    ability to adapt, innovate, and meet the evolving needs of our customers. We are
    already developing new products and services to cater to the changing demands of the
    housing finance industry.
    To my esteemed fellow Directors, I am truly grateful for your visionary leadership and
    insightful guidance. Your collective wisdom and expertise have been instrumental in
    shaping our strategic decisions and driving the organization towards sustained growth
    and success.
    I would also like to extend my heartfelt thanks to our esteemed independent directors.
    Your impartial perspectives, diverse experiences, and commitment to good governance
    have been crucial in ensuring transparency, accountability, and ethical practices within
    our organization. Your invaluable contributions have significantly strengthened our
    decision-making processes and fostered an environment of trust and integrity.
    Furthermore, I would like to express my deep appreciation to our dedicated employees.
    Your unwavering commitment, relentless effort, and unwavering passion are the driving
    force behind our achievements. Together, we have overcome numerous challenges and
    achieved remarkable milestones. Your talent, enthusiasm, and unwavering dedication
    are the foundation of our success, and for that, I am truly grateful.
    In conclusion, I would like to express my heartfelt gratitude to all our shareholders for
    your unwavering support and trust in KHFL. Together, we have weathered the storm, and
    I am optimistic that brighter days lie ahead. We remain committed to creating
    sustainable value for our stakeholders, and your continued faith in our vision and
    capabilities is greatly appreciated.
    Thank you once again for your unwavering support.

    Amit Magia
    Managing Director

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