During the year 2016-2017 your company has achieved many objectives and also achieved the turnover of Rs 506 Crore (approx.). But, during this year there are many ups and downs in the Indian economy like demonetization etc. due to this impact on the company. But in these tough times we have secured some major orders for e.g order from Punj Llyod for construction of Warehouse for Indian Oil Corporation Limited (IOCL) and another from Tata Projects for construction of substation for Power Grid Corporation of India Limited and also order from L&T for construction of metro station of Lucknow metro rail corporation and also receive and order from DMRC for construction of Six Elevated Metro Station and many more.
Your company always dedicated towards high quality and safety standards and firmly committed to deliver projects on time. We have 100% customize in house “Steel2Build” ERP system for complete project management. We also have team of highly qualified professionals committed to design, Manufacture and Install Pre-Engineered Buildings
During the last 7-8 years your company has grown and doing their best in the PEB sector. Rapidly growing, Richa has accomplished more than 600 projects in a record time on an average of delivering one building in every five days. But the growth of the industry fluctuated many times due to various reasons such as economic slowdown, various government policies and many more.
It gives me immense pleasure to share you that your company won the award for an Outstanding Company in Pre-Engineered Building during 6th EPC World award for their exceptional contribution in the infrastructure and construction sector with exemplary works & projects delivered. The 6th EPC Worlds awards was organized by EPC world media group to recognize and honor companies who broadly covering the entire infrastructure, EPC & construction on the basis of their qualitative and quantitative performance.
In the future, your company looking for many new project and also plan to explore new segments which will lay a strong foundation for future growth of the Company. Changing Economic condition and various new Government India Initiatives e.g. make in India, Development of smart Cities, Introduction of GST will play a major role and give various opportunities and create a huge demand of PEB in the Coming years. PEB will play an important role in developing and achieving the dream of smart cities.
In the last but not the least, the textile division of your company has also grows up year by year. The implementation of GST in FY18 will help boost the prospects for organised Textile sector. Currently only close to 40% of the textile business comprises of trade, which presents a huge opportunity for Richa to be leveraged through its strong portfolio of brands and network. Your Company has entered into the space of sportswear and getting good response.
Before I conclude, want to grab this opportunity to extend my sincere gratitude to all the bankers, creditors, stakeholders and shareholders for their persistent support for overall development of the Company. I thank all our customers for their continued support and the opportunity given to us to serve them and develop business relationship. I also place on record my sincere appreciation for employees for their dedication, commitment and contribution towards the growth of the Company.
With Best Wishes
Dr. Sandeep Gupta