1.1 Company overview
The company intends to monetize its real estate portfolio by getting into construction of mass housing project considering affordable housing project scheme.
1.2 Authorization of Financial Statements
The financial statements were authorized for issue in accordance with a resolution of the directors on 27nd May, 2025.
1.3 Significant Accounting Policies
i) Basis of preparation of financial statements.
The financial statements are prepared under the historical cost convention and an accrual basis in accordance with the generally accepted accounting principles (GAAP) in India, including the Indian Accounting Standards specified under section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014. All assets and liabilities have been classified as current or non-current, wherever applicable as per the operating cycle of the company as per the guidance as set out in schedule III to the Companies Act, 2013.
ii) Property, plant and equipment
Property, plant and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are recognized in profit or loss during the reporting period, in which they are incurred.
iii) Impairment of non-financial assets
Assessment is done at each balance sheet date as to whether there is any indication that an asset may be impaired. If any such indication exists or
when annual impairment testing for an asset is required, an estimate of the recoverable amount of the asset/cash generating unit is made. Recoverable amount is higher of an assets or cash generating unit's fair value less costs of disposal 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. For the purpose of assessing impairment, the recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or group of assets. The smallest identifiable group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows from other assets or groups of assets, is considered as a cash generating unit (CGU). An asset or CGU whose carrying value exceeds its recoverable amount is considered impaired and is written down to its recoverable amount. Assessment is also done at each balance sheet for possible reversal of an impairment loss recognized for an asset, in prior accounting periods.
iv) Valuation of Inventories
Raw Materials and work in progress have been valued at cost and Finished Goods has been valued at Cost or Net Realizable Value, whichever is lower.
v) Investments
Fair Value of Investments in shares of various company is non-determinable by management being unlisted companies. Hence, investments have been stated at cost.
vi) Revenue Recognition
Revenue is measured at the fair value of consideration received or receivable, (net of service tax/goods and services tax/value added tax]. Revenue is recognized when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.
vii) Security Deposit
Security deposit doesn't have a determinable fixed period hence the same has not been discounted.
viii) Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash on hand, amount at banks and other short-term deposits with an original maturity of three months or less that are readily convertible to known amount of cash and, which are subject to an insignificant risk of changes in value. For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered as an integral part of the company's cash management.
ix) Miscellaneous
Corresponding year figures have been regrouped wherever necessary.
x) Contingent Liabilities
Company did not borrow any amount during the year. There are no other contingent liabilities.
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