The directors are pleased to present the Fifteenth Annual Report together with the Audited Accounts for the year ended 31st March 2012.

FINANCIAL RESULTS

                                              Rs.           Rs.
                                              Year ended    Year ended
                                              31.03.2012    31.03.2011

Profit/Loss before depreciation, Tax            (26365)       (603010)

Add/Less: Depreciation                           63834          64892

Profit/Loss after depreciation                  (90199)       (667902)

Provision for taxation                               0              0

Profit/Loss after Tax                           (90199)       (667902)

Loss transferred to Balance Sheet (31500594) (31362045)

OPERATIONS:

Your Company has been focusing on flat promotion. The rising price of raw materials including the phenomenal increase in the cost of land has had an adverse effect on the Company s financial position. During the current year the company has started operations again.

DIVIDEND:

The Board of Directors has not recommended any dividend.

DIRECTORS:

Mr. P. Prajeesh and Mr. Rs. Ghanesh, Directors are retiring by rotation at the ensuing Annual General Meeting and are eligible for re-appointment.

AUDITORS:

The Board of Directors recommends the appointment of M/s. Vijayaraghavan and Associates, Chartered Accountants as the Auditors of the Company for the financial year 2012-13.

DIRECTORS RESPONSIBILITY STATEMENT PURSUANT TO SECTION 217 (2AA) OF THE COMPANIES ACT, 1956:

The Directors, to best of their knowledge and belief, confirm that:

1. that in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material departure.

2. that the selected accounting policies were applied consistently and the directors made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at 31st March 2012 and of the Loss of the company for the year ended on that date.

3 that proper and sufficient care has been taken for the maintenance of adequate accounting ' records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

4. that the annual accounts have been prepared on a going concern basis.

During the year under review the Company has neither invited nor received any deposits from the public.

AUDITORS REPORT:

The Report of the Auditors being self-explanatory needs no further comments.

FOREIGN EXCHANGE EARNINGS AND OUTGO:

Foreign Exchange Earnings: Rs. NIL Foreign Exchange Outgo: Rs. NIL

(Previous year Rs. NIL) (Previous year Rs. NIL)

INFORMATION AS PER SECTION 217(1) (E) OF THE COMPANIES ACT, 1956:

The Company has no activity relating to conservation of energy or technology absorption.

PARTICULARS OF EMPLOYEES

There are no employees drawing salary in excess of the monetary ceiling prescribed under Section 217 '(2A) of the Companies Act, 1956 read with the Companies (Particulars of - Employees) Rules, 1975 during the financial year 2011-12.

INDUSTRIAL RELATIONS:

Industrial relations continued to be cordial.

LISTING:

The securities of the Company are listed on the Bombay Stock Exchange Limited and Madras Stock Exchange Limited.

CORPORATE GOVERNANCE:

The Company has complied with the statutory provisions of Corporate Governance as prescribed . under the Listing Agreement of the Stock Exchanges with which the Company's shares have been listed. A separate Report on Corporate Governance is enclosed as part of this Annual Report. A certificate as to compliance with the conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement is annexed to the Report on Corporate Governance.

AUDIT COMMITTEE:

In consonance with Corporate Governance norms, Mr. P. Magesh, Independent Director of the Board, has been appointed as the Chairman of the Audit Committee.

COMPLIANCE CERTIFICATE:

A certificate from the Auditors of the Company regarding compliance of conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement is attached to this report. A Compliance Certificate by a Company Secretary in whole-time practice, as required by section 383A of the Companies Act, 1956 is also attached to the Directors Report.

CASH FLOW STATEMENT:

In conformity with the provision of Clause 32 of the Listing Agreement with the Stock Exchanges, Cash Flow Statement for the year ended 2011-12 is annexed hereto.

ACKNOWLEDGEMENTS:

The Board of Directors place on records its application for the assistance and co-operation received from the Government Authorities. The Board also places on record its gratitude to the employees at all levels for their commitment and dedicated efforts. The Directors are also thankful to the shareholders for their continued support to the Company.

                                            By order of the Board

Date: 07.05.2012

                                             T.N.T.Raajasekar

                                             Managing Director