అకౌంట్స్ గమనికలుPranav Constructions Ltd.

asset not at fair value through
profit or loss, transaction costs
that are directly attributable to
the acquisition of the financial
asset. Transaction costs of
financial assets carried at fair
value through profit or loss are
expensed in profit or loss.

(ii) Subsequent measurement

For purposes of subsequent
measurement, financial assets are
classified in following categories:

a) at amortized cost; or

b) at fair value through other
comprehensive income; or

c) at fair value through profit
or loss.

The classification depends on
the entity''s business model for
managing the financial assets
and the contractual terms of the
cash flows.

Amortized cost: Assets that are
held for collection of contractual
cash flows where those cash
flows represent solely payments
of principal and interest are
measured at amortized cost.
Interest income from these
financial assets is included in
''other income'' using the effective
interest rate method (EIR).

Fair value through other
comprehensive income (FVTOCI):
Assets that are held for collection
of contractual cash flows and for
selling the financial assets, where
the assets'' cash flows represent
solely payments of principal and
interest, are measured at fair value
through other comprehensive
income (FVTOCI). Movements
in the carrying amount are
taken through OCI, except for
the recognition of impairment
gains or losses, interest revenue
and foreign exchange gains and
losses which are recognized in

Statement of Profit and Loss.
When the financial asset is
derecognized, the cumulative
gain or loss previously recognized
in OCI is reclassified from equity
to Statement of Profit and Loss
and recognized in other gains/
(losses). Interest income from
these financial assets is included
in other income using the
effective interest rate method.

Fair value through profit or loss
(FVTPL): Assets that do not
meet the criteria for amortized
cost or FVTOCI are measured
at fair value through profit or
loss. Interest income from these
financial assets is included in
other income.

Equity instruments: All equity
investments in scope of Ind AS
109 are measured at fair value.
Equity instruments which are
held for trading are classified as
at FVTPL. For all other equity
instruments, the Company may
make an irrevocable election to
present in other comprehensive
income subsequent changes
in the fair value. The Company
makes such election on an
instrument- by-instrument basis.
The classification is made on initial
recognition and is irrevocable.

If the Company decides to
classify an equity instrument as at
FVTOCI, then all fair value changes
on the instrument, excluding
dividends, are recognized in the
OCI. There is no recycling of the
amounts from OCI to P&L, even
on sale of investment. However,
the Company may transfer
the cumulative gain or loss
within equity.

Equity instruments included
within the FVTPL category are
measured at fair value with all
changes recognized in the profit
and loss.

(iii) Impairment of financial assets

The Company assesses at each
date of balance sheet whether
a financial asset or a group of
financial assets is impaired. Ind
AS 109 requires expected credit
losses to be measured through
a loss allowance. The Company
recognizes lifetime expected
losses for all contract assets and
/ or all trade receivables that
do not constitute a financing
transaction. For all other financial
assets, expected credit losses are
measured at an amount equal to
the 12-month expected credit
losses or at an amount equal to
the life time expected credit losses
if the credit risk on the financial
asset has increased significantly
since initial recognition.

(iv) Derecognition of financial
assets

The Company derecognises
a financial asset when the
contractual rights to the cash
flows from the financial asset
expire or it transfers the financial
asset and the transfer qualifies
for de-recognition.

(b) Financial liabilities

(i) Initial recognition and
measurement

Financial liabilities are classified,
at initial recognition, as financial
liabilities at fair value through
profit or loss and at amortized
cost, as appropriate.

All financial liabilities are
recognized initially at fair value
and, in the case of borrowings
and payables, net of directly
attributable transaction costs.

(ii) Subsequent measurement

The measurement of financial
liabilities depends on their
classification, as described below:

Financial liabilities at fair value
through profit or loss

Financial liabilities at fair value
through profit or loss include
financial liabilities held for trading
and financial liabilities designated
upon initial recognition as at
fair value through profit or loss.
Gains or losses on liabilities held
for trading are recognized in the
Statement of Profit and Loss.

(iii) Loans and borrowings

After initial recognition, interest¬
bearing loans and borrowings
are subsequently measured at
amortized cost using the EIR
method. Gains and losses are
recognized in Statement of Profit
and Loss when the liabilities are
derecognized as well as through
the EIR amortization process.
Amortized cost is calculated by
taking into account any discount
or premium on acquisition and fees
or costs that are an integral part
of the EIR. The EIR amortization
is included as finance costs in the
Statement of Profit and Loss.

(iv) Derecognition

A financial liability is derecognized
when the obligation under the
liability is discharged or cancelled
or expires. When an existing
financial liability is replaced by
another from the same lender on
substantially different terms, or
the terms of an existing liability
are substantially modified, such
an exchange or modification
is treated as the derecognition
of the original liability and the
recognition of a new liability.
The difference in the respective
carrying amounts is recognized in
the Statement of Profit and Loss
as finance costs.

(c) Offsetting financial instruments

Financial assets and liabilities are
offset and the net amount is reported
in the balance sheet where there is a
legally enforceable right to offset the
recognized amounts and there is an

intention to settle on a net basis or
realize the asset and settle the liability
simultaneously. The legally enforceable
right must not be contingent on future
events and must be enforceable in
the normal course of business and
in the event of default, insolvency
or bankruptcy of the Company or
the counterparty.

2.16 Fair value of financial instruments

In determining the fair value of its financial
instruments, the Company uses following
hierarchy and assumptions that are based
on market conditions and risks existing at
each reporting date.

Fair Value hierarchy

All assets and liabilities for which fair value
is measured or disclosed in the Standalone
Financial Statements are categorized

within the fair value hierarchy, described as
follows, based on the lowest level input that
is significant to the fair value measurement
as a whole.

• Level 1 inputs are quoted prices

(unadjusted) in active markets for

identical assets or liabilities that the entity
can access at the measurement date;

• Level 2 inputs are inputs, other than

quoted prices included within Level

1, that are observable for the asset or
liability, either directly or indirectly; and

• Level 3 inputs are unobservable inputs
for the asset or liability.

For the purpose of fair value disclosures,
the Company has determined classes of
assets and liabilities on the basis of the
nature, characteristics and risks of the asset
or liability and the level of the fair value
hierarchy as explained above.

2.17 Employee Benefits

(a) Short-term obligations

Liabilities for wages and salaries,
including non-monetary benefits that
are expected to be settled wholly
within 12 months after the end of the
year in which the employees render
the related service are recognized in
respect of employees'' services up to
the end of the reporting period and are

on Social Security, 2020, read with
the relevant rules thereunder,
which have subsumed the earlier
provisions of the Payment of
Gratuity Act, 1972.

(iii) Compensated Absences

The Company provides for the
encashment of leave or leave
with pay subject to certain rules.
The employees are entitled
to accumulate leave subject
to certain limits, for future
encashment. The liability is
provided based on number of
days of unutilized leave at each
balance sheet date based on an
estimated basis for the year end.

2.18 Earnings Per Share

Basic earnings per share is calculated by
dividing the net profit or loss for the year
attributable to equity shareholders by the
weighted average number of equity shares
outstanding during the year. Earnings
considered in ascertaining the Company''s
earnings per share is the net profit or loss
for the year after deducting preference
dividends, if any, and any attributable tax
thereto for the year. The weighted average
number of equity shares outstanding during
the year is adjusted for event such as bonus
shares, consolidation/ share split, other
than the conversion of potential equity
shares, that have changed the number
of equity shares outstanding, without a
corresponding change in resources.

For the purpose of calculating diluted
earnings per share, the net profit or loss for
the year attributable to equity shareholders
and the weighted average number of shares
outstanding during the year is adjusted
for the effects of all dilutive potential
equity shares.

3 Significant accounting judgments,
estimates and assumptions

The preparation of financial statements requires
management to make judgments, estimates and
assumptions that affect the reported amounts of
revenues, expenses, assets and liabilities, and the
accompanying disclosures, and the disclosure

of contingent liabilities. Uncertainty about
these assumptions and estimates could result
in outcomes that require a material adjustment
to the carrying amount of assets or liabilities
affected in future years.

3.1 Estimates and assumptions

The key assumptions concerning the
future and other key sources of estimation
uncertainty at the year end date, that
have a significant risk of causing a material
adjustment to the carrying amounts of
assets and liabilities within the next financial
year, are described below. The Company
based its assumptions and estimates on
parameters available when the Standalone
Financial Statements were prepared. Existing
circumstances and assumptions about
future developments, however, may change
due to market changes or circumstances
arising that are beyond the control of the
Company. Such changes are reflected in the
assumptions when they occur.

(a) Impairment of non-financial assets

In assessing impairment, management
estimates the recoverable amount of
each asset or cash-generating units
based on expected future cash flows
and uses an interest rate to discount
them. Estimation uncertainty relates
to assumptions about future operating
results and the determination of a
suitable discount rate.

(b) Useful Life Of Property, Plant And
Equipments and Other Intangible
Assets

The Company determines the
estimated useful life of its Property,
Plant and Equipments and Other
Intangible Assets for calculating
depreciation/ amortisation. The
estimate is determined after
considering the expected usage of
the assets or physical wear and tear.
The company periodically reviews
the estimated useful life and the
depreciation/ amortisation method
to ensure that the method and period
of depreciation/ amortisation are
consistent with the expected pattern of
economic benefits from these assets.

(c) Classification of assets and
liabilities into current and non¬
current

The management classifies the assets
and liabilities into current and non¬
current categories based on the
operating cycle of the respective
projects.

(d) Fair value measurements

Management applies valuation
techniques to determine the fair
value of financial instruments
(where active market quotes are not
available) and non-financial assets.
This involves developing estimates
and assumptions consistent with how
market participants would price the
instrument/assets. Management bases
its assumptions on observable data as
far as possible but this may not always
be available. In that case Management
uses the best relevant information
available. Estimated fair values may
vary from the actual prices that
would be achieved in an arm''s length
transaction at the reporting date.

(e) Revenue Recognition

Management uses percentage of
completion for projects in progress,
project cost, revenue and saleable
area estimates. (Refer Note 2.8)

4 Recent pronouncements

The Ministry of corporate Affairs ("MCA") notified
amendments on 7 May 2025 and 13 August
2025 under the Companies (Indian Accounting
Standards) Amendment Rules, 2025 and the
Companies (Indian Accounting Standards)
Second Amendment Rules, 2025, respectively,
which is effective from annual reporting periods
beginning on or after 1 April 2025.

(i) Amendment to Ind AS 7 and Ind AS 107 -
Supplier Finance Arrangement:

The amendments to Ind AS 7 ''Statement
of Cash Flows'' and Ind AS 107 ''Financial
Instruments: Disclosures'' clarify the

characteristics of supplier finance
arrangements and require additional
disclosures for such arrangements. The
disclosure requirements in the amendments
are intended to assist users of financial

statements in understanding the effects
of supplier finance arrangements on an
entity''s liabilities, cash flows and exposure
to liquidity risk.

The company does not have any supplier
finance arrangements during the
reporting period.

(ii) Amendment to Ind AS 1 - Classification of
liabilities as current or non-current and
non-current liabilities with covenants: -

The amendment specifies the requirements
for classifying liabilities as current or non¬
current in the balance sheet, and clarifies
the following:

• An entity''s right to defer settlement
of a liability for at least twelve months
after the reporting period must have
substance and must exist at the end of
the reporting period. The classification
of a liability as current or non-current
is unaffected by the likelihood that the
entity will exercise its right to defer
settlement.

• If an entity''s right to defer settlement
of a liability is subject to covenants,
such covenants affect whether that
right exists at the end of the reporting
period only if the entity is required to
comply with the covenant on or before
the end of the reporting period.

• In case of a liability that can be settled,
at the option of the counterparty, by
the transfer of the entity''s own equity
instruments, such settlement terms
do not affect the classification of the
liability as current or non-current
only if the option is classified as an
equity instrument.

These amendments have no effect on the
measurement of any items in the standalone
financial statements of the Company.
The Company did not make retrospective
adjustments as a result of adopting the
amendments to Ind AS 1.

(iii) Amendment to Ind AS 12 - Pillar-Two
Tax Reforms

The company is not within the scope of
the OECD Pillar Two Model Rules, as Pillar
Two legislation has not yet been enacted

in any of the jurisdiction in which the
company operates.

(iv) Amendment to Ind AS 21-Lack of
exchangeability

The Amendments introduces requirement
to assess when a currency is exchangeable
into another currency and when it is not. The
amendment requires an entity to estimate
the spot exchange rate when it concludes
that a currency is not exchangeable into
another currency. These amendments
had no effect on the standalone financial
statements of the company.

The below amendments are notified but
not yet effective

Amendment to Ind AS 1 ''Presentation of
Financial Statements''- Classification of
Liabilities as current or non-current and
non-current liabilities with covenants:

The amendment includes specific
provisions that will take effect for reporting
periods beginning on or after 1 April 2026,
retrospectively, as outlined below:

a) Breach of material covenant for long¬
term loan arrangement on or before
end of reporting period with effect
that liability becomes payable on
demand as on reporting date, then it
shall be classified as current liability, if
lender agreed after reporting period
and before approval of financial
statements to not demand payment as
a consequence of breach.

b) Classify as non-current liability, if
lender agreed by end of reporting
period to provide grace period ending
at least 12 months after reporting
period within which entity can rectify
the breach provided lender does not
demand immediate repayment.

c) Disclose information about the
timing of settlement to understand
the impact of the liability on the
financial statements.

The company does not expect this
amendment to have an impact
on its operations or standalone
financial statements.

6.2 Lease Liabilities

The Company leases a number of properties in the Jurisdiction from which it operates. The Company
has certain leases of buildings with lease term up to 12 months. The Company applies the recognition
exemptions relating to short-term leases.

(iii) During the year ended 31 March 2026, the authorised share capital was increased by 1,00,00,000 equity
shares of C 10/- each vide Board resolution dated 24 November 2025.

(iv) During the year ended 31 March 2025 the Company issued three tranches of bonus shares to its shareholder
pursuant to approval by the shareholders in the extraordinary general meeting dated 25 May 2024, 31 May
2024 and 7 January 2025 respectively as follows:

- Allotted 8 fully paid up equity shares of C 10/- each for every 1 equity share of C 10/- on 25 May 2024,

- Allotted 8 fully paid up equity shares of C 10/- each for every 9 equity shares of C 10/- each on 31 May 2024,

- Allotted 13 fully paid up equity shares of C 10/- each for every 34 equity shares of C 10/- each on 7 January
2025.

(v) During the year ended 31 March 2025 the Company has allotted 10,00,000 fully paid up equity shares of
face value C 10/- each on 2 December 2024 at an issue price of C 250/- each on private placement basis
pursuant to provisions of section 42, section 62 and other applicable provisions of the Companies Act, 2013.
Issue resulting in total proceeds of C 249.72 millions net of issues expenses (recognised C 10 millions in equity
capital, C 240 millions securities premium along with issues expenses amounting to C 0.28 million).

(vi) Terms/rights attached to Equity Shares

The Company has issued and paid up equity shares having par value of C 10/- per share. Each shareholder
is entitled to one vote per share held. They entitle the holders to participate in dividends and dividend, if
any, declared is payable in Indian Rupees. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting. During the year the Company has not
proposed any dividend on Equity shares.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining
assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to
the number of equity shares held by the shareholders.

Notes -

1. Borrowings in respect of which personal guarantee has been given by director, Mr. Pranav Kiran Ashar.

2. Bank Overdraft of C 0.29 millions outstanding as at 31 March 2026 (31 March 2025: C 5.55 millions) was taken
from Kotak Mahindra Bank Limited. The loan terms and interest rates are disclosed in table above. The loan
is secured by hypothecation of properties owned by Mr. Pranav Kiran Ashar, director.

3. Borrowings for projects are considered as current as the same is repaid within the normal operating cycle in
respect of operations relating to under construction real estate projects.

(ii) Defined benefit plans

The Company provides gratuity benefits to its employees in India through a defined benefit plan. The plan is governed
by the applicable provisions of the Code on Social Security, 2020, read with the relevant rules thereunder, which have
subsumed the provisions of the erstwhile Payment of Gratuity Act, 1972.

Under the plan, eligible employees are entitled to gratuity benefits upon cessation of employment due to retirement,
resignation, death, or other qualifying events, subject to the applicable eligibility conditions. In cases of retirement or
resignation, employees generally become vested in the benefit upon completion of five years of continuous service, as
prescribed under the applicable statutory provisions. The gratuity benefit payable is determined based on the employee''s
length of service and last drawn salary/wages in accordance with the relevant regulations and the terms of the plan.

The gratuity obligation is funded through a partly funded gratuity scheme administered by the Life Insurance Corporation
of India (LIC). Contributions made during the year are recognized in the Statement of Profit and Loss.

The gratuity plan exposes the Company to various actuarial risks, including longevity risk, interest rate risk, and investment
risk. The present value of the defined benefit obligation and the related current service cost are determined using the
Projected Unit Credit Method, with actuarial valuations carried out at each reporting date by qualified actuaries.

m) Through its defined benefit plan, the Company is exposed to a number of risks, the most
significant of which are detailed below:

1 Interest Rate Risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest
rates will result in an increase in the ultimate cost of providing the above benefit and will thus result in an
increase in the value of the liability (as shown in financial statements).

2 Demographic Risk: The Company has used certain mortality and attrition assumptions in valuation of
the liability. The Company is exposed to the risk of actual experience turning out to be worse compared
to the assumption.

3 Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption
of salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future
for plan participants from the rate of increase in salary used to determine the present value of obligation
will have a bearing on the plan''s liability.

4 Liquidity Risk: This is the risk that the Company is not able to meet the short-term gratuity payouts. This
may arise due to non availability of enough cash/ cash equivalents to meet the liabilities or holding of
illiquid assets not being sold in time.

5 Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity
Act, 1972 (as amended from time to time). There is a risk of change in regulations requiring higher
gratuity payouts.

(iii) Compensated Absences

Accumulated leave expected to be utilized within the next 12 months is classified as a short-term employee
benefit. The Company measures the expected cost of such absences based on the additional amount it
anticipates paying due to unused entitlements accumulated as of the reporting date.

As of 31 March 2026, the provision for compensated absences amounts to C 8.17 millions, refer Note 20 -
Provisions. This balance is determined based on an actuarial valuation conducted by an independent actuary
using the Projected Unit Credit method, following Company''s leave policy effective 1 April 2024.

The expense recognized towards compensated absences for the year ended 31 March 2026 amounts to C 3.79
millions (31 March 2025 : C 4.64 millions) (Refer Note 31).

Effective November 21, 2025, the Government of India consolidated 29 existing labour regulations into
four Labour codes, namely, The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on
Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, collectively
referred to as the ''New Labour Codes''. The Company has evaluated the impact of the New Labour Codes
in accordance with the applicable accounting standards and concluded that there is no material impact on
the provision for employee benefits. Accordingly, no material adjustment, including any recognition of past
service cost, has been made in the Standalone Financial Statements for the year ended 31 March 2026. Upon
notification of the related Rules to the New Labour Codes by the Government and any further clarification
from the Government on other aspects of the New Labour Codes, the Company will evaluate and account
for additional impact if any, in subsequent periods.

40 Financial risk management objectives and policies

The Company''s principal financial liabilities, comprise borrowings, trade payables and other payables. The main purpose
of these financial liabilities is to finance the Company''s operations. The Company''s principal financial assets include
loans, trade receivables, cash and bank balances and other receivables that derive directly from its operations. The
Company''s activities expose it to market risk, liquidity risk and credit risk. The Company''s management oversees the
management of these risks and ensures that the Company''s financial risk activities are governed by appropriate policies
and procedures and that financial risks are identified, measured and managed in accordance with the Company''s policies
and risk objectives.

(A) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises two types of risk: interest rate risk and other price risk, such as equity price risk and
commodity risk. The Company has no exposure to commodity prices as it does not deal in derivative instruments whose
underlying is a commodity.

(B) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The Company exposure to the risk of changes in market interest rates relates primarily
to the Company''s debt obligations with floating interest rates. The management is responsible for the monitoring of the
Company''s interest rate position. Various variables are considered by the management in structuring the Company''s
borrowings to achieve a reasonable, competitive cost of funding.

Trade and other receivables

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However,
credit risk with regards to trade receivable is almost negligible in case of its residential sale. The same is due to the fact
that in case of its residential sell business it does not handover possession till entire outstanding is received.

Considering the inherent nature of business of the Company, Customer credit risk is minimal. The Company generally
does not part away with its assets unless trade receivables are fully realised. Wherever there is doubt on recovery, the
Company makes adequate provision based on best estimation of recovery.

Based on prior experience and an assessment of the current economic environment, management believes there is
no credit risk provision required, other than those made in the accounts, if any. Also the Company does not have any
significant concentration of credit risk.

Other financial assets

The Company does a proper financial and credibility check on the landlords before taking any property on lease and
hasn''t had a single instance of non-refund of security deposit on vacating the leased property. The Company also in some
cases ensure that the notice period rentals are adjusted against the Other financial assets and only differential, if any, is
paid out thereby further mitigating the non-realization risk. The Company does not foresee any credit risks on deposits
with regulatory authorities.

Cash and cash equivalents

The Company limits its exposure to credit risk of cash held with banks by dealing with highly rated banks and institutions
and retaining sufficient balances in bank accounts required to meet a month''s operational costs. The Management
reviews the bank accounts on regular basis and fund drawdowns are planned to ensure that there is minimal surplus cash
in bank accounts.

(D) Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The
Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet
its liabilities when due. The Company''s objective is to maintain a balance between continuity of funding and flexibility
through the use of surplus funds, bank overdrafts, bank loans and inter-corporate loans.

(C) 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 Company''s receivables from customers.

Investments

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties
that have a good credit rating. The credit worthiness of the counterparties of the investments made are evaluated
by the management on an ongoing basis and does not expect any significant losses from non-performance by these
counterparties.

42 Corporate Social Responsibility

As per section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least
2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR)
activities. The areas for CSR activities are community healthcare, free food, sanitation & hygiene, setting up old age home
and education, etc. A CSR committee has been formed by the Company as per the Act. The funds are utilized through
the year on these activities which are specified in Schedule VII of the Companies Act, 2013.

Explanation for variances exceeding 25% :

1 Decrease in Return on equity ratio is largely due to the increase in equity from the issuance of new shares, which diluted
the profit relative to the larger equity base.

2 Increase in Trade receivable turnover ratio is due to fall in average trade receivable due to increase in revenue and strong
recovery from the customers during the year.

3 The decline in the Trade payable turnover ratio is due to the lower increase in costs relative to the increase in trade
payables, resulting in a lower turnover ratio.

4 Decrease in Return on Investment ratio is mainly due to reduction in average investment balances consequent to strategic
deployment of surplus funds during the year.

43 Capital management

For the purpose of the Company''s capital management, capital includes issued equity capital, securities
premium and all other equity reserves attributable to the equity holders. The primary objective of the
Company''s capital management is to maximize the shareholder value and to ensure the Company''s ability
to continue as a going concern.

The Company has not distributed any dividend to its shareholders. The Company monitors gearing ratio i.e.
total debt in proportion to its overall financing structure, i.e. equity and debt. The Company manages the
capital structure and makes adjustments to it in the light of changes in economic conditions and the risk
characteristics of the underlying assets.

44 Commitments and Contingencies

(a) Commitments

(i) The Company has entered into Development agreements (DA) with co-operative housing society for development of
projects. Under these agreements, the Company is required to share area/ revenue/ surplus from such developments
in exchange of development rights as stipulated under the agreements.

(ii) Estimated amount of contracts remaining to be executed on capital account (net of advances) and not provided for
is C 1.78 Mn as on 31 March 2026 (31 March 2025: C 22.84 millions).

*Income tax demand (including interest upto date of demand order) comprises demand from the Income tax authorities
pertaining to matters related to the financial year 2016-17.

The Company has received order dated 30 May 2023 of demand amounting to C 7.60 millions. The Company has filed an
appeal against this Assessment Order with the Commissioner of Income-tax (Appeals), Mumbai.

The Company has paid a sum of C 1.52 millions on 4 July 2023 towards initial sum to be deposited for filing an appeal,
additionally the department has adjusted an Income tax refund of year ended 31 March 2023 C 0.44 millions as per
intimation order dated 22 December 2023.

Therefore an amount totalling to C 1.96 millions is presented as "Amount under protest" under note 10 - Non-current Tax
assets.

Notes:-

a. It is not practicable to estimate the timing of cash outflows, if any, in respect of matters stated in (ii) above pending
resolution of the income tax proceedings. Further, the liability mentioned in (ii) above excludes interest and penalty
except in cases where the Company has determined that the possibility of such levy is remote.

b. The Company does not expect any reimbursements in respect of the above contingent liabilities.

c. The Company has reviewed its proceedings and has adequately provided for where provisions are required or
disclosed as contingent liabilities where applicable, in its Financial Statements. The Company does not expect the
outcome of these proceedings to have a materially adverse effect on its Financial Information.

45 Disclosure pursuant to Section 186 (4) Of the Companies Act, 2013:

(i) Loans given to employees as per the Company''s policy are not considered for the purposes of
disclosure under Section 186(4) of the Companies Act, 2013.

(ii) The guarantee given on behalf of Mr. Pranav Kiran Ashar, Managing Director of the Company, for the
purpose of obtaining a housing loan is C 50.96 millions (31 March 2025: C 57.54 millions). This is part of
the conditions of service which is extended by the Company to all its employees.

(iii) Details of Investments made are given in Note 8.

46 Segment reporting

The Managing Director is the Chief Operating Decision Maker (''CODM'') of the Company who monitors the
operating results of the Company for the real estate development activity, which is considered to be the
only reportable segment by the management. Hence, there are no additional disclosures to be provided
under Ind AS 108 ''Operating Segments'' with respect to the single reportable segment, other than those
already provided in these financial statements. The Company is domiciled in India. The Company''s revenue
from operations from external customers relate to real estate development in India and all the non-current
assets of the Company are located in India.

47 Other Statutory Information

(i) There are no proceedings initiated or are pending against the Company for holding any benami
property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder.

(ii) The Company has no transactions with the companies struck off under Companies Act, 2013 or
Companies Act, 1956.

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond
the statutory period.

(iv) The Company has not traded or invested in crypto currency or virtual currency during the current year
or previous year.

(v) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies),
including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever
by or on behalf of the Company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(vi) The Company has not received any fund from any person(s) or entity(ies), including foreign entities
(Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company
shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever
by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

(vii) The Company does not have any transaction which is not recorded in the books of account that has
been surrendered or disclosed as income during the year in the tax assessments under the Income Tax
Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

(viii) The Company has not been declared wilful defaulter by any bank or financial institution or government
or any government authority or any other lender.

(ix) The Company has not entered into any scheme of arrangement which has an accounting impact on
current year or previous year.

(x) The Company has not revalued its property, plant and equipment (including right to use assets) or
other intangible assets or both during the current year or previous year.

(xi) The Company has complied with the number of layers prescribed under section 2(87) of the Companies
Act, 2013 read with Companies (Restriction on Number of Layers) Rules, 2017.

48 The Company has not made any Contribution to political party for the year ended 31 March 2026 (31 March
2025: C Nil).

49 Subsequent Events

There have been no significant events after the reporting period and before the approval of the financial
statements which would require a change to or additional disclosure in the financial statements.