1.2 Significant accounting estimates and assumptions

The preparation of the Company’s 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 periods.

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting 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 on its assumptions and estimates on parameters available when the 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.

The significant estimates and judgments are listed below:

Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to
modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates.

Judgments by actuaries in respect of discount rates, future salary increments, mortality rates and inflation rate used for computation of defined

⁽ⁱⁱ⁾ benefit liability.

(iii) Significant judgment is required in assessing at each reporting date whether there is indication that a financial asset may be impaired.

The impairment provision for financial assets are based on the assumptions about risk of default and expected loss rates. The company uses

(iv) judgments in making the assumptions and selecting the inputs to the impairment calculations, based on the company's past history, existing market
conditions as well as forward looking estimates at the end of each reporting period.

(v)

Significant judgment is required in assessing at each reporting date whether there is indication that a non-financial asset may be impaired.
Significant judgment is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and level of
future taxable profits together with future tax planning strategies.

In estimating the fair value of financial assets and financial liabilities, the Company uses market observable data to the extent available. Where such
Level 1 inputs are not available, the Company establishes appropriate valuation techniques and inputs to the model. The inputs to these models are
(Vii) taken from observable markets where possible, but where this is not feasible, a degree of judgment is required in establishing fair values.
Judgments include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect
the reported fair value of financial instruments.

(Viii) Significant judgment has been exercised by management in recognition of MAT credit and estimating the period of its utilization.

1.3 Summary of significant accounting policies

a) Current versus non-current classification

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is treated as current when it
is:

- Expected to be realized or intended to be sold or consumed in normal operating cycle.

- Held primarily for the purpose of trading.

- Expected to be realized within twelve months after the reporting period, or

- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

A liability is current when:

- It is expected to be settled in normal operating cycle.

- It is held primarily for the purpose of trading.

- It is due to be settled within twelve months after the reporting period, or

- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

The Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash equivalents. The Company
has identified twelve months as its operating cycle.

b) Inventories

Inventories are valued at the lower of cost (on weighted average basis) and the net realisable value after providing for obsolescence and other
losses, where considered necessary value after providing for obsolescence and other losses, where considered necessary. Cost includes all charges
in bringing the goods to the point of sale, including other levies and receiving charges.

Inventory comprises of land, project inventories and work in progress in case of construction and development of infrastructure projects.
Inventories comprising of land is valued at lower of cost or net realizable value. Cost includes cost of land, borrowing cost and other related
overhead as the case may be.

Project Inventories

Inventories of project materials are valued at cost or net realizable value whichever is less. Cost is arrived at on weighted average method (WAM)
basis.

Construction and development of Infrastructure project:

Cost incurred for the contract that relate to future activity of the contract, such contract cost are recognized as an asset provided it is probable that
they will be recovered. Such costs represent an amount due from the customer and are often classified as Contract work in progress which is valued
at cost or net realizable value whichever is less

c) Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprises cash at banks and on hand and short-term deposits with an original maturity of three
months or less, 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 an integral part of the company's cash management.

d) Property, plant and equipment (PPE)

Property, plant and equipment (including capital work in progress) is stated at cost, net of accumulated depreciation and accumulated impairment
losses, if any. The cost comprises the purchase price, directly and indirectly attributable costs arising directly from the development of the asset /
project to its working condition for the intended use. When significant parts of plant and equipment are required to be replaced at intervals, the
company depreciates them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognized in
the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are
recognized in profit or loss as incurred.

Borrowing cost relating to acquisition / construction of property, plant & equipment which take substantial period of time to get ready for its
intended use are also included to the extent they relate to the period till such assets are ready to be put to use.

Depreciation is calculated on a straight line basis over the useful lives of the assets prescribed in the Companies Act, 2013.

An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic
benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net
disposal proceeds and the carrying amount of the asset) is included in the income statement when the asset is derecognized.

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.

e) Revenue recognition

The Company derives revenues primarily from sale of properties comprising of both commercial and residential units. The Company recognises
revenue when it determines the satisfaction of performance obligations at a point in time and subsequently over time when the Company has
enforceable right for payment for performance completed to date. Revenue is recognised upon transfer of control of promised products to customer
in an amount that reflects the consideration which the Company expects to receive in exchange for those products.

In arrangements for sale of units the Company has applied the guidance given in IND AS 115, on“Revenue from contracts with customers”, by
applying the revenue recognition criteria for each distinct performance obligation. The arrangements with customers generally meet the criteria for
considering sale of units as distinct performance obligations. For allocating the transaction price, the Company has measured the revenue in respect
of each performance obligation of a contract at its relative standalone selling price. The price that is regularly charged for an item when sold
separately is the best evidence of its standalone selling price. The transaction price is also adjusted for the effects of the time value of money if the
contract includes a significant financing component. Any consideration payable to the customer is adjusted to the transaction price, unless it is a
payment for a distinct product or service from the customer.

The full revenue is recognized on sale of property when the company has transferred to the buyer all significant
risks & rewards of ownership and when the seller has not to perform any substantial acts to complete the
contract.

Interest income is recognized on accrual basis using the effective interest rate (EIR) method.

Sale of products and services of Gold and bullion division

Revenue from contracts with customers is recognised when control of the goods or services are transferred to the customer at an amount that
reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company has generally
concluded that it is the principal in its revenue arrangements, since it is the primary obligor in all of its revenue arrangement, as it has pricing
latitude and is exposed to inventory and credit risks. Revenue is stated net of goods and service tax and net of returns, chargebacks, rebates and
other similar allowances. These are calculated on the basis of historical experience and the specific terms in the individual contracts.

In determining the transaction price, the Company considers the effects of variable consideration, the existence of significant financing
components, noncash consideration, and consideration payable to the customer (if any). The Company estimates variable consideration at contract
inception until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognised will not occur when the
associated uncertainty with the variable consideration is subsequently resolved.

Sales Returns

The Company accounts for sales returns accrual by recording an allowance for sales returns concurrent with the recognition of revenue at the time
of a product sale. This allowance is based on the Company’s estimate of expected sales returns. With respect to established products, the Company
considers its historical experience of sales returns, levels of inventory in the distribution channel, estimated shelf life, product discontinuances,
price changes of competitive products, and the introduction of competitive new products, to the extent each of these factors impact the Company’s
business and markets. With respect to new products introduced by the Company, such products have historically been either extensions of an
existing line of product where the Company has historical experience or in therapeutic categories where established products exist and are sold
either by the Company or the Company’s competitors.

Interest income

Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company and the amount of
income can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest
rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset’s
net carrying amount on initial recognition.

Government Grants

The Company recognises government grants only when there is reasonable assurance that the conditions attached to them will be complied with,
and the grants will be received. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the
related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, the Company deducts such grant amount
from the carrying amount of the asset.

f) Foreign Currency

On initial recognition, transactions in currencies other than the Company’s functional currency (foreign currencies) are translated at exchange rates
at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated into the
functional currency at the exchange rate at that date. Exchange differences arising on the settlement of monetary items or on translating monetary
items at rates different from those at which they were translated on initial recognition during the period or in previous period are recognised in
profit or loss in the period in which they arise except for:

- exchange differences on transactions entered into in order to hedge certain foreign currency risks

- exchange differences on foreign currency borrowings relating to assets under construction for future productive use, which are included in the cost
of those assets when they are regarded as an adjustment to interest costs on those foreign currency borrowings, if any

g) Retirement and other employee benefits

All employee benefits payable wholly within 12 months rendering services are classified as short term employee benefits. Benefits such as salaries,
wages, short term compensated absences, performance incentives etc. and the expected cost of bonus, ex-gratia are recognised during the period in
which the employee renders related service.

h) Provident fund

Retirement benefit in the form of provident fund is a defined contribution scheme. The company has no obligation, other than the
contribution payable to the provident fund. The company has not recognizes contribution payable to the provident fund scheme as an
expense. Company has not deducted any Provided fund from empolyee.

i) Gratuity fund

No Provision for retirement benefits for employees has been made. And the company has adopted PAY-AS-YOU- GO method for the
Payment of other retirement benefits if any payable to the employees.

j) Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to
get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which
they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also
includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

i) Segment reporting

The Chief Operational Decision Maker monitors the operating results of its business segments separately for the purpose of making decisions about
resource allocation and performance assessment. Segment performance is evaluated based on profit or loss and is measured consistently with profit
or loss in the financial statements.

In accordance with the Ind-As 108 -" Operating Segments" , the Company has determined its business segment of Gold and Silver Ornaments
and Bullion products and Real Estate and Development Project. . Since there are other business segments in which the Company operates,
there are reportable segments. Therefore, the segment revenue, results, segment assets, segment liabilities, total cost incurred to acquire segment
assets, depreciation charge are all as is reflected in the financial statement.

m) Related party transactions

Disclosure of transactions with Related Parties, as required by Ind-AS 24 "Related Party Disclosures" has been set out in a separate note. Related
parties as defined under Ind-AS 24 have been identified on the basis of representations made by key managerial personnel and information
available with the Company.

n) Earnings per share

The Basic EPS has been computed by dividing the income available to equity shareholders by the weighted average number of equity shares
outstanding during the accounting year. For the purpose of calculating diluted earning per share, the profit or loss for the period attributable to
equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential
equity shares.

o) Taxes

Provision for Incoem tax is made in accordance with Provision of income tax Act 1961

i) Current income tax

Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income-Tax Act, 1961 enacted in
India. The tax rates and tax laws used to compute the amount are those that are enacted or substantially enacted, at the reporting date.

Current income tax relating to items recognized outside the statement of profit and loss is recognized outside the statement of profit and loss
(either in OCI or in equity). Current tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity.
Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to
interpretation and establishes provisions where appropriate.

ii) Deferred tax

Deferred tax is provided using the balance sheet approach on temporary differences between the tax bases of assets and liabilities and their carrying
amounts for financial reporting purposes at the reporting date.

Deferred tax liabilities are recognized for all taxable temporary differences, except

> When the deferred tax liability arises from the initial recognition of an asset or liability in a transaction that affects neither the accounting profit
nor taxable profit or loss.

Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses.
Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary
differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except:

> When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a
transaction that affects neither the accounting profit nor taxable profit or loss.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient
future taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at
each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be
recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is
settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities
and the deferred taxes relate to the same taxable entity and the same taxation authority.

Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss (either in other comprehensive income or in
equity). Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity.

Minimum alternate tax (MAT) paid in a year is charged to the statement of profit and loss as current tax. The company recognizes MAT credit
available as an asset only to the extent that there is convincing evidence that the company will pay normal income tax during the specified period,
i.e., the period for which MAT credit is allowed to be carried forward. Deferred tax include MAT Credit Entitlement. The Company reviews the
such tax credit asset at each reporting date and writes down the asset to the extent The Company does not have sufficient taxable temporary
difference /convincing evidence that it will pay normal tax during the specified period. Deferred tax includes MAT tax credit.

The company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual
impairment testing for an asset is required, The Company estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of
an asset’s or cash-generating unit’s (CGU) fair value less costs of disposal and its value in use. 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. When the carrying
amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market
transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are
corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.

The company bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the
company’s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of five years. For
longer periods, a long-term growth rate is calculated and applied to project future cash flows after the fifth year.

Impairment losses of continuing operations, including impairment on inventories, are recognised in the statement of profit and loss, except for
properties previously revalued with the revaluation surplus taken to OCI. For such properties, the impairment is recognised in OCI up to the
amount of any previous revaluation surplus.

Intangible assets with indefinite useful lives are tested for impairment annually as at year end at the CGU level, as appropriate, and when
circumstances indicate that the carrying value may be impaired.