Anna Infrastructures Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

NOTE 1. MATERIAL ACCOUNTING POLICIES

1.1 GENERAL INFORMATION

Anna Infrastructures Ltd. (The “Company”) is a public limited company incorporated in India with its registered office in Agra, Uttar Pradesh, India. The Company is listed on the Bombay Stock Exchange Limited, Mumbai. The Company is engaged in the business of Real Estate Developer.

1.2 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The Financial Statement of the company have been prepared in accordance with the Indian Accounting Standards (IND AS) prescribed under section 133 of the Companies (Indian Accounting Standards) Rules, as amended from time to time. The financial statement are consistent with those followed in the previous year.

1.3 USE OF ESTIMATES

The preparation of the financial statement in conformity with India GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the difference between the actual and the estimates are cognized in which the results are known/materialize.

1.4 RECOGNITION OF INCOME AND EXPENDITURE

(a) Under the Real Estate Division of the Company the Income recognized at the point of Sale or booking amount received on estimation basis and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed.

(b) The Company has booked the Income on a GP basis on sales/Bookings of Plots Shops, and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed. The Company is following the same method of accounting from more than 10 years consistently. Company has not started new project after 01-04-2012 hence guidance note on Real Estate transaction (issued by ICAI) is not applicable on Company.

(c) Revenue/Income and costs/Expenditure are recognized on an accrual basis except dividends.

1.5 FIXED ASSETS

Fixed Assets are stated at Cost less accumulated depreciation.

1.6 TRANSITION TO IND AS

On transition to IND AS, the group has elected to continue with the carrying value of all its property plant and equipment recognized as at April 1, 2016, measured as per the previous GAAP, and use that carrying value as the deemed cost of such property, plant and equipment.

1.7 SUBSEQUENT EXPENDITURE

Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to the group.

1.8 DEPRECIATION

Depreciation on Fixed Assets has been provided based on life assigned to each asset in accordance with schedule II of the Companies Act, 2013 which as follows :

Asset Category	Estimated useful Life
Office Equipment	5 Years
Furniture & Fixture	10 Years
Electrical Equipment	10 Years
Vehicles (2 - Wheeler)	10 Years
Vehicles (4 - Wheeler)	8 Years
Computers	3 Years
Building	30 Years

1.9 INVESTMENTS

Investments are held by the Company are classified into Current and Long Term Investments Categories in terms of RBI Guidelines and valued accordingly. Investment in Mutual Funds and Equity shares are measured at fair value through profit & loss (FVTPL).

Fair value changes on instruments measured at FVTPL is recognized in the statement of Profit and loss unless the company has elected to measure such instrument at FVOCI. Fair value changes on instruments measured at FVOCI are recognized in OCI. Amounts recognized in OCI are not subsequently reclassified to the statement of Profit and loss.

1.10 INVENTORIES

Inventories under Real Estate Division of the Company are stated at lower of cost or net realizable value.

1.11 CASH FLOW STATEMENT

Cash flow are reported using the indirect method, whereby profit/(loss) before tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flow from operating, investing and financing activities of the group are segregated based on the available information.

1.12 Reporting on ICDS ICDS 1 - Accounting Policies

The Financial Statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis. The entity follows the mercantile system of accounting and recognizes income and expenditure on an accrual basis except in case of significant uncertainties.

ICDS II - Valuation of Inventories

Work in Progress is valued at cost or net realizable value, whichever is lower. Cost comprises all cost of purchase, cost of conversion and other cost incurred in bringing the inventory to the present location and condition. The Cost formulae used is either first in first out or specific identification, or the average cost as applicable. In terms section 145A the purchases, sales and inventory is valued inclusive of taxes the net impact of the same on profit and loss account is Nil.

ICDS III - Construction Contracts This ICDS is not applicable to the entity.

ICDS IV - Revenue Recognition

Revenue/ Income and Cost/ Expenditure are generally accounted for on accrual basis as they are earned or incurred, except in case of significant uncertainties. However, where the ultimate collection of the same lacks reasonable certainty, revenue recognition is postponed to extent of uncertainty. Sale of Goods is recognized on transfer of significant risks and rewards of ownership.

ICDS V - Tangible Fixed Assets

Fixed Assets are stated at cost less depreciation charged to accounts. Costs directly attributable to bring the Assets to its working condition are also capitalized. Disposal on fixed Assets is charged at rates as specified in schedule of Fixed Assets. Rate of Depreciation is consistent of previous financial years.

ICDS VII - Government Grants

This ICDS is not applicable to the entity.

ICDS IX - Borrowing Costs

Interest and other borrowing costs attributable to qualifying assets, are added to the cost of the qualifying asset, until such time as the assets are substantially ready for their intended use. Qualifying assets for capital of general borrowing costs are those that necessarily take more than one year or substantial period of time to get ready for their intended use.

ICDS X - Provisions, Contingent Liabilities and Contingent Assets

Provisions involving a substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is reasonably certain that there will be an outflow of resources. A provision is not discounted to its present value and is determined based on the last estimate required to settle an obligation at the year end. These are reviewed every year end and adjusted to reflect the best current estimates. Contingent Liabilities are not recognized.

1.13 RISK MANAGEMENT FRAMEWORK

A wide range of risks may affect the company''s business and operational or financial performance. The risks that could have significant influence on the company are credit Risk, Liquidity & Funding Risk, Market Risk and Operational Risk. The management has a process to identify and analyze the risks faced by the company, to set appropriate risk limits and to control and to monitor risks and adherence to these limits. The risk management framework aims to:

I create a stable business planning environment by reducing the impact of interest rate fluctuations on the company''s business plan.

II achieve greater predictability to earnings by determining the financial value of the expected earnings in advance.

A) CREDIT RISK

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the trade and other receivables, cash and cash equivalents and other bank balances.

It is measured as the amount at risk due to repayment default by customers or counterparties to the company. Various metrics such as instalment default rate, overdue position, instalment moratorium, restructuring, onetime resolution plan, debt management efficiency, credit bureau information etc. are used as leading indicators to assess credit risk.

It is monitored using level of credit exposures, portfolio monitoring, and contribution of repeat customers, bureau data, and concentration risk of geography, customer and portfolio; and assessment of any major change in the business environment including economic, political as well as natural calamity/pandemic.

It is managed by a robust control framework by the risk and debt management unit. This is achieved by continuously aligning credit and debt management policies and resourcing, obtaining external data from credit bureaus and reviews of portfolios and delinquencies by senior and middle management team comprising of risk, analytics, debt management and risk containment along with business.

(a) Loans, Trade & Other Receivables

Credit risk from loans, trade & other receivables is managed by establishing credit limits, credit approvals and monitoring creditworthiness of the customers. Outstanding customer receivables are regularly monitored. The ageing of loans & trade receivables is as follows:

(Rs. In Lacs)
Particulars	As at 31st March 2025
Loans	380.27
Less : Allowances for expected credit loss	NIL
Trade & Other Receivables
Outstanding for less than one year	NIL
Less: Allowance for doubtful debts	NIL
TOTAL	380.27

(b) Cash & Cash Equivalents & Other Bank Balances

The Company holds cash and cash equivalents and other bank balances of Rs.21.22 Lakhs at 31st March 2025. The credit worthiness of such banks and financial institutions is evaluated by the management on an ongoing basis and is considered to be good.

B) LIQUIDITY & FUNDING RISK

Liquidity risk is the risk that the company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset.

Funding risk arises from:

• Inability to raise incremental borrowings and deposits to fund business requirement or repayment obligations

• When long term assets cannot be funded at the expected term resulting in cash flow mismatches

• Amidst volatile market conditions impacting sourcing of funds from banks and money markets

It is measured by:

• Identification of gaps in the structural and dynamic liquidity statements.

• Assessment of incremental borrowings required for meeting the repayment obligation, the company''s business plan and prevailing market conditions.

• Liquidity coverage ratio (LCR) in accordance with guidelines.

The Company does not have any kind of Liquidity and Funding Risk as on 31.03.2025.

C) MARKET RISK

Market risk is the risk of loss of future earnings, fair values of future cash flows that may result from adverse changes in market rates and prices or in the price of market risk-sensitive instruments a result of such adverse changes in market rates & prices. Market risk comprises Currency Risk, Interest Risk & Price Risk.

It is measured using changes in equity prices, and sensitivities like Value at Risk (''VAR'') basis point value (PV01), modified duration analysis and other measures to determine movements in our portfolios and impact on our income, including the sensitivity of net interest income. Market risks for the company encompass exposures to equity investments, Interest rate risks on investment portfolios as well as the floating rate assets and liabilities with differing maturities.

It is monitored by assessments of fluctuation in the equity price, interest rate sensitivities under simulated stress test scenarios given range of probable interest rate movements on both fixed and floating assets and liabilities.

It is managed by the company''s treasury team under the guidance of Board.

(a) Currency Risk

The Company''s operations are only in India which results in no foreign currency risk exposure.

(b) Interest Risk

Interest rate risk is the risk that the fair value of future cash flow of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to interest rate risk through the impact of rate changes on interest-bearing liabilities and assets. The company manages its interest rate risk by monitoring the movements in the market interest rates closely.

(c) Price Risk

The company is exposed to equity price risk arising from investments held by the company. To manage its price risk arising from investment in equity securities, the company diversifies its portfolio. Diversification of the portfolio is done in accordance with the limits set by the company. However, the company has very little investment in equity market.

D) OPERATIONAL RISK

Operational risk is the risk arising from inadequate or failed internal processes, people or systems, or from external events. The company manages operational risks through comprehensive internal control systems and procedures laid down around various key activities in the company viz. loan acquisition, customer services, IT operations, fiance function etc. Internal Audit also conducts a detailed review of all functions at least once a year, this helps to identify process gaps on timely basis. Further IT and Operations have a dedicated compliance and control units within the function who on continuous basis review internal processes. This enables the management to evaluate key areas of operational risks and the process to adequately mitigate them on an ongoing basis.

The Company has put in place a robust disaster recovery (DR) plan and business continuity plan (BCP) to ensure continuity of operations including services to customers, if any eventuality is to happen such as natural disasters, technological outage etc. Robust periodic testing is carried, and results are analyzed to address gaps in the framework, if any.

1.14 Confirming of various debit and credit balances, loans and advances given and other liabilities etc. have not been received in some cases, which may have a revenue impact.

1.15 TAXATION

Income tax expenses represents the sum of the current tax and deferred tax.

Current Tax:

The tax currently payable is based on taxable profit under the Income Tax Act for the year. The Companies current tax is calculated using tax rates that have been enacted by the end of the reporting period.

Deferred Tax:

Deferred tax expense or benefit is recognized on timing difference between taxable income and accounting income that originates in one period and are capable of reversal in one or more subsequent periods.

1.16 DIVIDENTS

The final dividend on shares is recorded as a liability on the date of approval by shareholders and interim dividend are recorded as liability on the date of declaration by the Company''s Board of directors.

However, during the financial year, the company has not declare any dividend.

1.17 EARNIG PER SHARE

Basic earnings per share is computed by dividing the Profit/ (loss) after tax (including the post - tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit/ (loss) after tax (including the post - tax effect of extraordinary items, if any) by the weighted average number of equity shares considered for deriving basic earnings per share since the company have not issued any securities which can be potential equity shares. Company has not convertible securities which can be converted to stock, hence working for basic EPS and diluted EPS are same.

1.18 EMPLOYEE BENEFITS

As none of the employee is covered by the eligibility criteria hence no provision for the retirement benefit has been made.

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Mar 31, 2024

NOTE 1. SIGNIFICANT ACCOUNTING POLICIES

1.1 GENERAL INFORMATION

Anna Infrastructures Ltd. (The “Company”) is a public limited company incorporated in India with its registered office
in Agra, Uttar Pradesh, India. The Company is listed on the Bombay Stock Exchange Limited, Mumbai. The Company
is engaged in the business of Real Estate Developer.

1.2 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The Financial Statement of the company have been prepared in accordance with the Indian Accounting Standards
(IND AS) prescribed under section 133 of the Companies (Indian Accounting Standards) Rules, as amended from
time to time. The financial statement are consistent with those followed in the previous year.

1.3 USE OF ESTIMATES

The preparation of the financial statement in conformity with India GAAP requires the Management to make estimates
and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the
reported income and expenses during the year. The management believes that the estimates used in preparation of the
financial statements are prudent and reasonable. Future results could differ due to these estimates and the difference
between the actual and the estimates are cognized in which the results are known/materialize.

1.4 RECOGNITION OF INCOME AND EXPENDITURE

(a) Under the Real Estate Division of the Company the Income recognized at the point of Sale or booking amount
received on estimation basis and balance of Profit & Loss of particular project accounted in that year in which
the entire sale of said project will be completed.

(b) The Company has booked the Income on a GP basis on sales/Bookings of Plots Shops, and balance of Profit &
Loss of particular project accounted in that year in which the entire sale of said project will be completed. The
Company is following the same method of accounting from more than 10 years consistently. Company has not
started new project after 01-04-2012 hence guidance note on Real Estate transaction (issued by ICAI) is not
applicable on Company.

(c) Revenue/Income and costs/Expenditure are recognized on an accrual basis except dividends.

1.5 FIXED ASSETS

Fixed Assets are stated at Cost less accumulated depreciation.

1.6 TRANSITION TO IND AS

On transition to IND AS, the group has elected to continue with the carrying value of all its property plant and
equipment recognized as at April 1, 2016, measured as per the previous GAAP, and use that carrying value as the
deemed cost of such property, plant and equipment.

1.7 SUBSEQUENT EXPENDITURE

Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the
expenditure will flow to the group.

1.8 DEPRECIATION

Depreciation on Fixed Assets has been provided based on life assigned to each asset in accordance with schedule II
of the Companies Act, 2013.

1.9 INVESTMENTS

Investments are held by the Company are classified into Current and Long Term Investments Categories in terms of
RBI Guidelines and valued accordingly. Long Term Investments are stated at cost and provision for diminution in
value is made wherever considered necessary, if the diminution is of permanent nature. Current Investments are stated
at lower of cost and fair value. Gains/Losses on disposal or redemption of investments are recognized in the profit &
Loss Statement.

1.10 INVENTORIES

Inventories under Real Estate Division of the Company are stated at lower of cost or net realizable value.

1.11 CASH FLOW STATEMENT

Cash flow are reported using the indirect method, whereby profit/(loss) before tax is adjusted for the effects of
transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash
flow from operating, investing and financing activities of the group are segregated based on the available information.

1.12 Reporting on ICDS

ICDS 1 - Accounting Policies

The Financial Statements have been prepared in accordance with the generally accepted accounting principles in India
under the historical cost convention on accrual basis. The entity follows the mercantile system of accounting and
recognizes income and expenditure on an accrual basis except in case of significant uncertainties.

ICDS II - Valuation of Inventories

Work in Progress is valued at cost or net realizable value, whichever is lower. Cost comprises all cost of purchase,
cost of conversion and other cost incurred in bringing the inventory to the present location and condition. The Cost
formulae used is either first in first out or specific identification, or the average cost as applicable. In terms section
145A the purchases, sales and inventory is valued inclusive of taxes the net impact of the same on profit and loss
account is Nil.

ICDS III - Construction Contracts

This ICDS is not applicable to the entity.

ICDS IV - Revenue Recognition

Revenue/ Income and Cost/ Expenditure are generally accounted for on accrual basis as they are earned or incurred,
except in case of significant uncertainties. However, where the ultimate collection of the same lacks reasonable
certainty, revenue recognition is postponed to extent of uncertainty. Sale of Goods is recognized on transfer of
significant risks and rewards of ownership.

ICDS V - Tangible Fixed Assets

Fixed Assets are stated at cost less depreciation charged to accounts. Costs directly attributable to bring the Assets to
its working condition are also capitalized. Disposal on fixed Assets is charged at rates as specified in schedule of Fixed
Assets. Rate of Depreciation is consistent of previous financial years.

ICDS VII - Government Grants
This ICDS is not applicable to the entity.

ICDS IX - Borrowing Costs

Interest and other borrowing costs attributable to qualifying assets, are added to the cost of the qualifying asset, until
such time as the assets are substantially ready for their intended use. Qualifying assets for capital of general borrowing
costs are those that necessarily take more than one year or substantial period of time to get ready for their intended
use.

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Mar 31, 2015

1. RECOGNITION OF INCOME AND EXPENDITURE: -

(a) Under the Real Estate Division of the Company the Income recognized at the point of Sale or booking amount received on estimation basis and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed.

(b) The Company has booked the Income on a GP basis on sales/Bookings of Plots Shops, and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed. The Company is following the same method of accounting from more than 10 years consistently.

(c) Revenue/Income and costs/Expenditure are recognized on an accrual basis except dividends.

2. FIXED ASSETS

Fixed Assets are stated at Cost less accumulated depreciation.

3. DEPRECIATION

Depreciation on Fixed Assets has been provided based on life assigned to each asset in accordance with schedule II of the Companies Act, 2013. However, in case where useful life of asset has been expired, the Carrying Cost of Asset stands in excess of Residual Value, the same has been transferred to Retained Earnings.

4. INVESTMENTS

Investments are held by the Company are classified into Current and Long Term Investments Categories in terms of RBI Guidelines and valued accordingly. Long Term Investments are stated at cost and provision for diminution in value is made wherever considered necessary, if the diminution is of permanent nature. Current Investments are stated at lower of cost and fair value. Gains/Losses on disposal or redemption of investments are recognized in the profit & Loss Statement.

5. INVENTORIES

Inventories under Real Estate Division of the Company are stated at lower of cost or net realizable value.

6. Confirmation of various debit and credit balances, loans and advances given and other liabilities etc. have not been received in some cases, which may have a revenue impact.

The Company is of the opinion that the computation of the net profit under section 198 of the Companies Act 2013 is not necessary as no commission is paid/payable to the Directors for the year ended 31.03.2015.

The total Remuneration paid to Director(s) is less than 5 % of the Net Profits of the Company in accordance with Section 197(1)i of the Companies Act, 2013.

8. Under Real Estate Division of the Company, the sale and booking is in progress in the following projects:

- Plots in Ikon city Project

- Plots in Ikon Greens Project

- Plots in Ikon Vatica Project

- Shops in Anna Complex

- Shops in Anna Ikon

The Company has booked the Gross Profit @ 30% on sales/Bookings of Inventories and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed.

9. Segment Information Composition of Business segment

The Company's business divided into two segments as

I. Real Estate Business

II. Loan and Investment

Normally there is no inter segment transactions in the company.

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Mar 31, 2014

1. RECOGNITION OF INCOME AND EXPENDITURE: -

(a) Under the Real Estate Division of the Company the Income recognized at the point of Sale or booking amount received on estimation basis and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed.

(b) Revenue/Income and costs/Expenditure are recognized on an accrual basis except dividends.

2. FIXED ASSETS

Fixed Assets are stated at Cost less accumulated depreciation.

3. DEPRECIATION

Depreciation on Fixed Assets is provided on straight-line method at the relevant rates of depreciation on pro-rata basis as specified in schedule XIV of the Companies Act, 1956.

4. INVESTMENTS

Investments are held by the Company are classified into Current and Long Term Investments Categories in terms of RBI Guidelines and valued accordingly. Long Term Investments are stated at cost and provision for diminution in value is made wherever considered necessary, if the diminution is of permanent nature. Current Investments are stated at lower of cost and fair value. Gains/Losses on disposal or redemption of investments are recognized in the profit & Loss Statement.

5. INVENTORIES

Inventories under Real Estate Division of the Company are stated at lower of cost or net realizable value.

6. Confirmation of various debit and credit balances, loans and advances given and other liabilities etc. have not been received in some cases, which may have a revenue impact.

7. Remuneration to Directors

Particulars Current Year Previous Year (Rs.) (Rs.)

Salary 3,60,000 3,36,000

The Company is of the opinion that the computation of the net profit under section349 of the Companies Act 1956 is not necessary as no commission is paid/payable to the Directors for the year ended 31.03.2013.

8. Under Real Estate Division of the Company, the sale and booking is in progress in the following projects:

Plots in Ikon city Project

Plots in Ikon Greens Project

Plots in Ikon Vatica Project

Shops in Anna Complex

Shops in Anna Ikon

The Company has booked the Income @ 15% on sales/Bookings of Plots and 20% on sales/bookings of Shops, and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed.

9. Segment Information

Composition of Business segment

The Company''s business divided into two segment as

I. Real Estate Business

II. Loan and Investment

Normally there is no inter segment transactions in the company.

As at 31.03.2014 segment revenues, result and other information

A. Segment Revenue (Income)

I. Real Estate Business 23,15,800/-

II. Loan and Investment 53,88,477/-

Income from Operations 77,04,277/-

B. Segment Results

I. Real Estate Business 8,92,633/-

II. Loan and Investment 42,72,983/- Total 51,65,616/-

Less: Interest 5,70,935/-

Less : Net Unallocable Expenditure 9,72,875/-

Total Profit before Tax 36,21,806/-

C. Capital Employed

i. Real Estate Business 2,16,88,150/-

II. Loan and Investment 5,56,85,931/-

Total 7,73,74,081/-

10. Figures have been rounded off to the nearest rupee.

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Mar 31, 2013

1. RECOGNITION OF INCOME AND EXPENDITURE: -

(a) Under the Real Estate Division of the Company the Income recognized at the point of Sale or booking amount received on estimation basis and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed.

(b) Revenue/Income and costs/Expenditure are recognized on an accrual basis except dividends.

2. FIXED ASSETS

Fixed Assets are stated at Cost less accumulated depreciation.

3. DEPRECIATION

Depreciation on Fixed Assets is provided on straight-line method at the relevant rates of depreciation on pro- rata basis as specified in schedule XIV of the Companies Act, 1956.

4. INVESTMENTS

Investments are held by the Company are classified into Current and Long Term Investments Categories in terms of RBI Guidelines and valued accordingly. Long Term Investments are stated at cost and provision for diminution in value is made wherever considered necessary, if the diminution is of permanent nature. Current Investments are stated at lower of cost and fair value. Gains/Losses on disposal or redemption of : investments are recognized in the profit & Loss Statement.

5. INVENTORIES

Inventories under Real Estate Division of the Company are stated at lower of cost or net realizable value.

6. Confirmation of various debit and credit balances, loans and advances given and other liabilities etc. have not been received in some cases, which may have a revenue impact.

7. Remuneration to Directors

The Company is of the opinion that the computation of the net profit under section349 of the Companies Act ¦ 1956 is not necessary as no commission is paid/payable to the Directors for the year ended 31.03.2013.

8. Under Real Estate Division of the Company, the sale and booking is in progress in the following projects: Plots in Ikon city Project ;

Plots in Ikon Greens Project

Plots in Ikon Vatica Project

Shops in Anna Complex

Shops in Anna Ikon The Company has booked the Income @ 15% on sales/Bookings of Plots and 20% on sales/bookings of Shops, and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed.

9. Segment Information Composition of Business segment

The Company''s business divided into two segment as

I. Real Estate Business

II. Loan and Investment

Normally there is no inter segment transactions in the company.

10. Figures have been rounded off to the nearest rupee.

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Mar 31, 2012

1. RECOGNITION OF INCOME AND EXPENDITURE: -

(a) Under the Real Estate Division of the Company the Income recognized at the point of Sale or booking amount received on estimation basis and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed.

(b) Revenue/Income and costs/Expenditure are recognized on an accrual basis except dividends.

2. FIXED ASSETS

Fixed Assets are stated at Cost less accumulated depreciation.

3. DEPRECIATION

Depreciation on Fixed Assets is provided on straight-line method at the relevant rates of depreciation on pro- rata basis as specified in schedule XIV of the Companies Act, 1956.

4. INVESTMENTS

Investments are held by the Company are classified into Current and Long Term Investments Categories in terms of RBI Guidelines and valued accordingly. Long Term Investments are stated at cost and provision for diminution in value is made wherever considered necessary, if the diminution is of permanent nature. Current Investments are stated at lower of cost and fair value. Gains/Losses on disposal or redemption of investments are recognized in the profit & Loss Statement.

5. RETIREMENT BENEFITS

As none of the Employee is covered by the eligibility criteria hence no provision for the retirement benefit has been made.

6. INVENTORIES

Inventories under Real Estate Division of the Company are stated at lower of cost or net realizable value.

7. PROVISION FOR INCOME TAX

Provision for Income Tax has been made keeping in view provisions of the Income Tax Act, 1961 and the rules made there under. According to Accounting Standard-22, issued by the Institute of Chartered Accountants of India, A provision has also been made for deferred Tax Asset/Liability.

8. CONTINGENT LIABILTIES

Contingent Liabilities are not provided for and are disclosed by way of notes.

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Mar 31, 2010

1. RECOGNITION OF INCOME AND EXPENDITURE: -

(a) Under the Real Estate Division of the Company the Income recognized at the point of Sale or booking amount received on estimation basis and balance of Profit & Loss of particular project accounted in that year in which the entire sale of said project will be completed.

(b) Revenue/Income and costs/Expenditure are recognized on an accrual basis except dividends, delayed payment charges and Income recognized on non-performing assets based on actual recovery as per the prudential norms prescribed by the Reserve Bank of India which are accounted on Receipt basis.

(c) Income is not recognized in respect of Non-performing Assets, if any, as per the guidelines for prudential norms prescribed by the Reserve Bank of India.

2. FIXED ASSETS

Fixed Assets are stated at Cost less accumulated depreciation.

3. DEPRECIATION

Depreciation on Fixed Assets is provided on straight-line method at the relevant rates of depreciation on pro-rata basis as specified in schedule XIV of the Companies Act, 1956.

4. INVESTMENTS

Investments are held by the Company are classified into Current and Long Term Investments Categories in terms of RBI Guidelines and valued accordingly. Long Term Investments are stated at cost and provision for diminution in value is made wherever considered necessary, if the diminution is of permanent nature. Current Investments are stated at lower of cost and fair value. Gains/Losses on disposal or redemption of investments are recognized in the profit & Loss Account.

5. RETIREMENT BENEFITS

As none of the Employee is covered by the eligibility criteria hence no provision for the retirement benefit has been made.

6. INVENTORIES

Inventories under Real Estate Division of the Company are stated at lower of cost or net realizable value.

7. PROVISION FOR INCOME TAX

Provision for Income Tax has been made keeping in view provisions of the Income Tax Act, 1961 and the rules made there under. According to Accounting Standard-22, issued by the Institute of Chartered Accountants of India, A provision has also been made for deferred Tax Liability.

8. CONTINGENT LIABILTIES

Contingent Liabilities are not provided for and are disclosed by way of notes.