SIGNIFICANT ACCOUNTING POLICIES

a. STATEMENT OF COMPLIANCE

These standalone financial statements have been prepared in accordance with the Indian Accounting Standards (referred to
as “Ind AS”) prescribed under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards)
Rules as amended from time to time.

b. BASIS OF ACCOUNTING

These financial statements have been prepared on the historical cost basis, except for certain financial instruments which
are measured at fair values at the end of each reporting period, as explained in the accounting policies below.

Historical cost is generally based on the consideration given in exchange for goods and/or services.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date.

c. Current and non-current classification

I. Assets

The entity classifies an asset as current when:

(a) it expects to realise the asset, or intends to sell or consume it, in its normal operating cycle;

(b) it holds the asset primarily for the purpose of trading;

(c) it expects to realise the asset within twelve months after the reporting period; or

(d) the asset is cash or a cash equivalent unless the asset is restricted from being exchanged or used to settle a liability
for at least twelve months after the reporting period.

All other assets are classified as non-current.

II. Liabilities

The entity classifies a liability as current when:

(a) it expects to settle the liability in its normal operating cycle;

(b) it holds the liability primarily for the purpose of trading;

(c) the liability is due to be settled within twelve months after the reporting period; or

(d) it does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting
period. Terms of a liability that could, at the option of the counterparty, result in it settlement by the issue of equity
instruments do not affect its classification.

All other liabilities are classified as non-current.

The operating cycle considered as 12 months by the management

d. Use of estimates

The presentation of Financial Statements requires management to make estimates and assumptions that affect the reported
amounts of assets, liabilities, revenues and expenses and disclosure of contingent liabilities. The estimates and assumption
used in the accompanying Financial Statements are based upon management's evaluation of the relevant facts and
circumstances as of the date of the financial statement. Actual results may differ from the estimates and assumptions used in
preparing the accompanying Financial statements.

e. Property plant and equipment

The cost of an item of property, plant and equipment comprises of purchase price, including import duties and taxes (other
than those subsequently recoverable by the entity from the taxing authorities), after deducting trade discounts and rebates,
and including any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable
of operating in the manner intended by management.

After recognition as an asset, an item of property, plant and equipment is carried at its cost less any accumulated depreciation
and accumulated impairment losses, if any.

Depreciation is provided on the Straight-Line Method at the manner prescribed under schedule II of the companies Act,
2013. The useful life of the asset is considered as prescribed under schedule II of the Companies Act, 2013

The residual values, useful lives and methods of depreciation of Property, Plant and equipment are reviewed at each
financial year end and adjusted prospectively, if appropriate.

Gains or loss arising from derecognition of a Property, Plant and Equipment are measured as the difference between net
disposal proceeds and the carrying amount.

f. Investment property

The investment properties held by the company are valued at cost at which comprises its purchase price and any directly
attributable expenditure. There is no existence and amounts of restrictions on the realisability of investment property or the
remittance of income and proceeds of disposal nor are there any contractual obligations.

All the investment properties has generated income through rental income during the year under consideration

The company is not provided any depreciation on the investment properties as the said properties are held for sale, as the
intention of the company is to recover the principal amount through sale transaction rather than through continuing use.

g. Intangible assets

a) Measurement at recognition:

Intangible assets acquired separately are measured on initial recognition at cost. Subsequently, intangible assets are
carried at cost less accumulated amortization and accumulated impairment loss, if any.

b) Amortization:

Intangible Assets are amortized on a Straight-Line basis over the estimated useful economic life. The amortization
expense on intangible assets is recognized in the Statement of Profit and Loss. The estimated useful life of software is
considered as per schedule II of the companies Act, 2013. The amortization period and the amortization method for an
intangible asset is reviewed at the end of each financial year. If any of these expectations differ from previous estimates,
such change is accounted for as a change in an accounting estimate.

c) De-recognition:

The carrying amount of an intangible asset is derecognized on disposal or when no future economic benefits are
expected from its use or disposal. The gain or loss arising from the de-recognition of an intangible asset is measured as
the difference between the net disposal proceeds and the carrying amount of the intangible asset and is recognized in
the Statement of Profit and Loss when the asset is derecognized.

h. Impairment of non-financial assets

The company assesses at each reporting date as to whether there is any indication that Property, Plant and Equipment or
intangible assets may be impaired. If any such indication exists, the recoverable amount of an asset is estimated to determine
the extent of impairment.

Impairment loss, if any, is recognised in the statement of profit and loss to the extent the carrying amounts of assets exceeds
their recoverable amount. Recoverable amount is the higher of an assets net selling price and its value in use.

Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from
its disposal at the end of its useful life.

Net selling price is the amount obtainable from the sale of an asset in an arms-length transaction between knowledgeable,
willing parties, less the costs of disposal.

The impairment loss recognised in prior accounting period is reversed if there has been change in estimate of recoverable
amount.

i. Financial Instruments:

i) Financial Assets

a. Initial Recognition and measurement

The entity recognizes a financial asset in its balance sheet only when, the entity becomes party to the contractual
provisions of the instrument. All financial assets except trade receivables are measured at fair value. Transaction
cost that are directly attributable to the acquisition or issue of financial assets, which are not at fair value through
profit and loss, are adjusted to the fair value on initial recognition.

A regular way purchase or sale of financial assets are be recognised and using trade date accounting

b. Subsequent Measurement

i) Financial Instruments measured at Amortised Cost (AC)

A financial asset is measured at amortized cost if it is held within business model where objective is to hold the
asset in order to collect contractual cash flows and the contractual terms of the financial asset gives rise on
specific dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

ii) Financial Instruments measured at Fair Value through Other Comprehensive Income (FVTOCI)

A Financial asset is measured at FVTOCI if it is held within the business model where objective is achieved by
both contractual cash flows and selling of financial assets and contractual terms of financial assets give rise on
specific dates to cash flows that are solely payments of principal and interest on the principal amount outstanding

iii) Financial Instruments measured at Fair Value through Profit or Loss (FVTPL)

A financial asset which is not classified in any of the above categories are measured at FVTPL

c. Impairment of Financial Assets

The Company assesses at each date of balance sheet whether a financial asset or a group of financial assets are
impaired.

In accordance with IND AS 109, the company uses 'Expected Credit Loss (ECL)' model, for evaluating impairment
of financial assets other than those measured at Fair value through Profit and Loss (FVTPL).

Expected credit losses are measured through loss allowance at an amount equal to:

a. The 12-months expected credit losses (expected credit losses that result from those default events on the
financial instrument that are possible within 12 months after the reporting date); or

b. Full life time expected credit losses (expected credit losses that result from all possible default events over the
life of financial instruments)

For trade receivables the company applies 'simplified approach' which requires expected lifetime losses to be
recognized from initial recognition of trade receivables.

The company uses historical default rates to determine impairment loss on the portfolio of trade receivables. At
every reporting date these historical default rates are reviewed and changes in the forward looking estimates are
analyzed

For other assets, the company uses 12-month ECL to provide for impairment loss where there is no significant
increase in credit risk. If there is significant increase in credit risk full lifetime ECL is used.

ii) Financial Liabilities

i) Initial Recognition and Measurement

The entity recognizes a financial liability in its balance sheet only when, the entity becomes party to the contractual
provisions of the instrument. All financial liabilities are measured at fair value. Transaction cost that are directly
attributable to the acquisition or issue of financial assets, which are not at fair value through profit and loss, are
adjusted to the fair value on initial recognition.

ii) Subsequent measurement

Financial Liabilities are carried at amortized cost using effective interest method

For trade and other payables maturing within one year from the balance sheet date, the carrying amounts
approximates fair value due to short maturity of these instruments.

iii) De-recognition of Financial Instruments

The company derecognizes a financial asset when the contractual rights to the cash flow from the financial asset
expires or it transfers the financial asset and the transfer qualifies for de-recognition as per IND AS 109.

Financial liability (or part of financial liability) is derecognized from the company's balance sheet when obligation
specified in the contract is discharged or cancelled or expired.

iv) Offsetting

Financial assets and Financial liabilities are offset and the net amount is presented in the balance sheet when, and
only when, the company has legally enforceable right to set-off the amount and it intends, either to settle them on
a net basis or to realize the asset and settle the liability simultaneously.

j. Income taxes

The tax expense for the period comprises of current tax and deferred income tax. Tax is recognized in the statement of profit
and loss, except to the extent that it relates to items recognized in other comprehensive income or in equity. In which case,
the tax is also recognized in other comprehensive income or equity.

i) Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the income tax
authorities, based on tax rates and laws that are enacted at balance sheet date.

ii) Deferred Tax

Deferred tax is recognized on temporary differences between carrying amounts of assets and liabilities in financial
statements and the corresponding tax bases used in computation of taxable profit.

Deferred tax liabilities and assets are measured at tax rates that are expected to apply in the period in which the liability
is settled or the assets realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by
end of the reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the end of each
reporting period

k. Inventories

Construction materials are valued at lower of cost or net realizable value, on the basis of weighted average method after
providing for obsolescence and other losses, where considered necessary. Cost of inventory comprises all costs of purchase,
duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in bringing the
inventory to their present location and condition.

Work-in-progress represents cost incurred directly in respect of construction activity and indirect construction cost to the
extent to which the expenditure is related to the construction or incidental thereto is valued at lower of cost or net realizable
value

Amount of work in progress certified / billed in the subsequent year is pro-rated for the year under review, based on number
of days involved.

Stocks of stores and scaffolding have been valued at cost or net realizable value, whichever is lower having regard to the life
of such material used.

Stock of raw materials is valued at cost or net realizable value, whichever is lower.

Finished goods are valued at cost or market value, whichever is lower.

l. Cash and cash equivalents

Cash and cash equivalents comprise of cash on hand, balances with banks, short-term deposits and short-term, highly liquid
investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes
in value and having original maturity of three months or less.

m. Equity instruments

An equity instrument is a contract that evidences residual interest in the assets of the company after deducting all of its
liabilities.