ఆడిటర్ నివేదిక Pranav Constructions Ltd.

We have audited the accompanying standalone
financial statements of Pranav Constructions Limited
(Formerly known as Pranav Constructions Private
Limited)("the Company”), which comprise the Balance
Sheet as at March 31, 2026, and the Statement of Profit
and Loss (including Other Comprehensive Income),
the Statement of Changes in Equity and the Statement
of Cash Flows for the year then ended, and notes to
the standalone financial statements, including material
accounting policy information and other explanatory
information (hereinafter referred to as the "standalone
financial statements”).

In our opinion and to the best of our information and
according to the explanations given to us, the aforesaid
standalone financial statements give the information
required by the Companies Act, 2013 ("the Act'') in
the manner so required and give a true and fair view
in conformity with the Indian Accounting Standards
prescribed under section 133 of the Act read with
Companies (Indian Accounting Standards) Rules, 2015,
as amended ("Ind AS”) and other accounting principles
generally accepted in India, of the state of affairs of the
Company as at March 31, 2026, and its profit (including
other comprehensive income), changes in equity and
its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the standalone financial
statements in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the
Act. Our responsibilities under those SAs are further
described in the Auditor''s Responsibilities for the
Audit of the standalone Financial Statements section
of our report. We are independent of the Company
in accordance with the Code of Ethics issued by the
Institute of Chartered Accountants of India together
with the ethical requirements that are relevant to our
audit of the standalone financial statements under
the provisions of the Act and the Rules thereunder,
and we have fulfilled our other ethical responsibilities
in accordance with these requirements and the Code
of Ethics. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a
basis for our opinion.

Information Other than the Standalone Financial
Statements and Auditor’s Report Thereon

The Company''s Board of Directors is responsible for
the other information. The other information comprises
the information included in the Director''s report but
does not include the standalone financial statements
and our auditor''s report thereon, which is expected to
be made available to us after the date of this auditor''s
report.

Our opinion on the standalone financial statements
does not cover the other information and we do not
and will not express any form of assurance conclusion
thereon.

In connection with our audit of the standalone
financial statements, our responsibility is to read the
other information identified above and, in doing so,
consider whether the other information is materially
inconsistent with the standalone financial statements
or our knowledge obtained in the audit, or otherwise
appears to be materially misstated.

When we read the Director''s Report, if we conclude
that there is a material misstatement therein, we are
required to communicate the matter to those charged
with governance.

Responsibilities of Management and Board of
Directors for the Standalone Financial Statements

The Company''s Management and Board of Directors
are responsible for the matters stated in section 134(5)
of the Act with respect to the preparation of these
standalone financial statements that give a true and fair
view of the financial position, financial performance,
changes in equity and cash flows of the Company in
accordance with the accounting principles generally
accepted in India, including the Indian Accounting
Standards specified under section 133 of the Act. This
responsibility also includes maintenance of adequate
accounting records in accordance with the provisions
of the Act for safeguarding of the assets of the
Company and for preventing and detecting frauds
and other irregularities; selection and application of
appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and
design, implementation and maintenance of adequate
internal financial controls, that were operating
effectively for ensuring the accuracy and completeness
of the accounting records, relevant to the preparation
and presentation of the standalone financial statement
that give a true and fair view and are free from material
misstatement, whether due to fraud or error.

In preparing the standalone financial statements, the
Board of Directors of the Company are responsible for
assessing the Company''s ability to continue as a going
concern, disclosing, as applicable, matters related to
going concern and using the going concern basis of
accounting unless the Board of Directors either intends
to liquidate the Company or to cease operations, or
has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing
the Company''s financial reporting process.

Auditor’s Responsibilities for the Audit of the
Standalone Financial Statements

Our objectives are to obtain reasonable assurance
about whether the standalone financial statements as
a whole are free from material misstatement, whether
due to fraud or error, and to issue an auditor''s report
that includes our opinion. Reasonable assurance
is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with SAs will
always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate,
they could reasonably be expected to influence the
economic decisions of users taken on the basis of
these standalone financial statements.

We give in "Annexure A” a detailed description of
Auditor''s responsibilities for Audit of the Standalone
Financial Statements.

Report on Other Legal and Regulatory
Requirements

1. As required by the Companies (Auditor''s Report)
Order, 2020 ("the Order”), issued by the Central
Government of India in terms of sub-section (11) of
section 143 of the Act, we give in "Annexure B” a
statement on the matters specified in paragraphs
3 and 4 of the Order, to the extent applicable.

2. As required by Section 143(3) of the Act, we report
that:

(a) We have sought and obtained all the
information and explanations which to the
best of our knowledge and belief were
necessary for the purposes of our audit of the
aforesaid standalone financial statements.

(b) In our opinion, proper books of account as
required by law relating to preparation of the
aforesaid standalone financial statements
have been kept by the Company so far as it
appears from our examination of those books.

(c) The Balance Sheet, the Statement of Profit
and Loss (including other comprehensive
income), the Statement of Changes in Equity
and the Statement of Cash Flows dealt with
by this Report are in agreement with the
books of account maintained for the purpose
of preparation of the standalone financial
statements.

(d) In our opinion, the aforesaid standalone
financial statements comply with the Ind AS
specified under Section 133 of the Act.

(e) On the basis of the written representations
received from the directors as on March
31, 2026 taken on record by the Board of
Directors, none of the directors are disqualified
as on March 31, 2026 from being appointed as
a director in terms of Section 164 (2) of the
Act.

(f) With respect to the adequacy of the internal
financial controls with reference to standalone
financial statements of the Company and the
operating effectiveness of such controls, refer
to our separate Report in "Annexure C”.

(g) With respect to the other matters to be
included in the Auditor''s Report in accordance
with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014, in our opinion and to
the best of our information and according to
the explanations given to us:

i. The Company has disclosed the impact
of pending litigations on its financial
position in its standalone financial
statements - Refer Note 44(b)to the
standalone financial statements.

ii. The Company did not have any long-term
contracts including derivative contracts
for which there were any material
foreseeable losses.

iii. There are no amounts which are
required to be transferred to the Investor
Education and Protection Fund by the
Company during the year ended March
31, 2026.

iv. a. The Management has represented

that, to the best of it''s knowledge and
belief, as disclosed in the note 47 to
the standalone financial statements,

to believe that the representations
under sub-clause (i) and (ii) of
Rule 11(e) contain any material mis¬
statement.

v. The Company has neither declared nor
paid any dividend during the year.

vi. Based on our examination, which
included test checks, the Company
has used an accounting software for
maintaining its books of account which
has a feature of recording audit trail (edit
log) facility and the same has operated
throughout the year for all relevant
transactions recorded in the software.
Further, during the course of our audit,
we did not come across any instance of
audit trail feature being tampered with.
Additionally, the audit trail of prior year
has been preserved by the Company as
per the statutory requirements for record
retention.

3. In our opinion, according to information,
explanations given to us, the remuneration paid or
provided by the Company to its directors is within
the limits laid prescribed under Section 197 read
with Schedule V of the Act.

For M S K A & Associates LLP

(Formerly known as M S K A & Associates)

Chartered Accountants

ICAI Firm Registration No. 105047W/W101187

Nitin Tiwari

Partner

Membership No.: 118894

UDIN: 26118894CFHJLK6853

Place: Mumbai

Date: July 18, 2026