2.1 Statement of compliance & basis of preparation and
presentation

The Standalone Financial Statements of the Company
have been prepared in accordance with the Indian
Accounting Standards ('Ind AS') as per the Companies
(Indian Accounting Standards) Rules, 2015 as amended
and notified under section 133 of the Companies Act,
2013 (the 'Act') and other relevant provision of the act.
The aforesaid financial statements have been approved
by the Company's Board of Directors and authorised for
issue in the meeting held on 28^th April 2026.

Accounting policies have been consistently applied
except where a newly issued accounting standard is
initially adopted or a revision to an existing accounting
standard requires a change in the accounting policy
hitherto in use

2.2 Basis of measurement

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

Historical Cost: Assets are recorded at the amount of
cash or cash equivalents paid or the fair value of the
other consideration given to acquire them at the time of
their acquisition. Liabilities are recorded at the amount
of proceeds received in exchange for the obligation, or in
some circumstances (for example, income taxes), at the

amounts of cash or cash equivalents expected to be paid
to satisfy the liability in the normal course of business.

2.3 Measurement of Fair Values

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,
regardless of whether that price is directly observable
or estimated using another valuation technique. In
measuring the fair value of an asset or a liability, the
Company takes into account the characteristics of
the asset or liability if market participants would take
those characteristics into account when pricing the
asset or liability at the measurement date. Fair value
for measurement and/or disclosure purposes in these
standalone financial statements is determined on such
basis, except for share-based payment transactions
that are within the scope of Ind AS 102 - "Share based
Payments", leasing transactions within the scope of Ind
AS 116, "Leases" and measurements that have some
similarities to fair value but are not fair value, such as
net realisable value in Ind AS 2 - "Inventories" or value in
use in Ind AS 36 - "Impairment of Assets".

In addition, for financial reporting purposes, fair value
measurements are categorised into Level 1, 2, or 3
based on the degree to which the inputs to the fair value
measurements are observable and the significance of
the inputs to the fair value measurement in its entirety,
which are described as follows:

• Level 1 : Quoted prices (unadjusted) in active
markets for identical assets or liabilities that the
Company can access at the measurement date;

• Level 2 : 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 for the asset or liability that
are not based on observable market data
(unobservable inputs).

2.4 Revenue Recognition2.4.1 Revenue from Projects

i. The Company develops and sells residential
and commercial properties. Revenue from
contracts is recognised when control over

assessed periodically by the management.
The effect of these changes to estimates
is recognised in the period when changes
are determined. Accordingly, any revenues
attributable to such changes and the
corresponding Cost of Goods Sold ("COGS")
previously recognised are reversed and
reduced from the current year's Revenue
and COGS respectively.

2.4.2 Revenue from Sale of land and other rights

Revenue from Sale of land and other rights is
generally a single performance obligation and
the Company has determined that this is satisfied
at the point in time when control transfers as
per the terms of the contract entered into with
the buyers, which generally are with the firmity
of the sale contracts / agreements.

2.4.3 Revenue from Project Management fees and
Rental Income

Revenue from Project Management Fees and
Rental Income are recognized on accrual basis
as per the terms and conditions of relevant
agreements.

2.4.4 Dividend and interest income

Dividend income from investments in shares is
recognized when right to receive is established,
which is generally when shareholders approve
the dividend.

Dividend income from investment in mutual
funds is recognised when the unit holder's right
to receive payment has been established.

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.

2.5 Current versus non-current classification

The operating cycle is the time between the acquisition
of assets for processing and their realisation in cash and
cash equivalents.

Based on the nature of activity carried out by the
Company and the period between the procurement and
realisation in cash and cash equivalents, the Company
has ascertained its operating cycle as 3 to 5 years for
the purpose of Current - Non Current classification of
assets & liabilities.

The Company presents assets and liabilities in the balance
sheet based on current/ non-current classification.

An asset is classified as current when it is:

— Expected to be realised or intended to be sold or
consumed in normal operating cycle

— Held primarily for the purpose of trading

— Expected to be realised 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

The Company classifies all other assets as non-current.

A liability is classified as 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.

Borrowings are classified as current if they are due to be
settled within 12 months after the reporting period.

2.6 Leasing2.6.1 The Company as a Lessor

Leases for which the Company is a lessor
are classified as finance or operating leases.
Whenever the terms of the lease transfer

substantially all the risks and rewards incidental
to ownership of an underlying asset to the
lessee, the contract is classified as a finance
lease. All other leases are classified as operating
leases.

Rental income from operating leases is generally
recognised on a straight-line basis over the term
of the relevant lease. Initial direct costs incurred
in negotiating and arranging an operating lease
are added to the carrying amount of the leased
asset and recognised as expense on a straight¬
line basis over the lease term. The respective
leased assets are presented in the balance sheet
based on their nature.

2.6.2 The Company as a Lessee

The Company recognises right-of-use asset
representing its right to use the underlying asset
for the lease term and a corresponding lease
liability at the lease commencement date i.e. the
date at which the leased asset is available for
use by the Company. The cost of the right-of-use
asset measured at inception shall comprise of the
amount of the initial measurement of the lease
liability adjusted for any lease payments made at
or before the commencement date less any lease
incentives received, plus any initial direct costs
incurred and an estimate of costs to be incurred
by the lessee in dismantling and removing the
underlying asset or restoring the underlying
asset or site on which it is located. The right-
of-use assets is subsequently measured at cost
less any accumulated depreciation, accumulated
impairment losses, if any and adjusted for any
remeasurement of the lease liability. The right-
of-use assets is depreciated using the straight¬
line method from the commencement date to
the earlier of the end of the useful life of right-
of-use asset or the end of the lease term. The
estimated useful lives of right-of use assets
are determined on the same basis as those of
property, plant and equipment. Right-of-use
assets are tested for impairment whenever there
is any indication that their carrying amounts may
not be recoverable. Impairment loss, if any, is
recognised in the statement of profit and loss.

The Company measures the lease liability at the
present value of the lease payments that are not
paid at the commencement date of the lease. The
lease payments are discounted using the interest
rate implicit in the lease, if that rate can be

readily determined. If that rate cannot be readily
determined, the Company uses incremental
borrowing rate. For leases with reasonably similar
characteristics, the Company, on a lease by lease
basis, may adopt either the incremental borrowing
rate specific to the lease or the incremental
borrowing rate for the portfolio as a whole. The
lease payments shall include fixed payments,
variable lease payments, residual value guarantees,
exercise price of a purchase option where the
Company is reasonably certain to exercise that
option and payments of penalties for terminating
the lease, if the lease term reflects the lessee
exercising an option to terminate the lease. The
lease liability is subsequently remeasured by
increasing the carrying amount to reflect interest
on the lease liability, reducing the carrying
amount to reflect the lease payments made and
remeasuring the carrying amount to reflect any
reassessment or lease modifications or to reflect
revised in-substance fixed lease payments. Where
the carrying amount of the right-of-use asset is
reduced to zero and there is a further reduction
in the measurement of the lease liability, the
Company recognises any remaining amount of
the re-measurement in statement of profit and
loss.

The Company has elected not to apply the
requirements of Ind AS 116 Leases to short-term
leases of all assets that, at the commencement
date, have a lease term of 12 months or less
and leases for which the underlying asset is of
low value. The lease payments associated with
these leases are recognized as an expense on a
straight-line basis over the lease term.

2.7 Foreign exchange transactions and translation

Transactions in foreign currencies i.e. other than the
Company's functional currency are recognised at
the rates of exchange prevailing at the dates of the
transactions. At the end of each reporting period,
monetary items denominated in foreign currencies are
retranslated using the closing rate prevailing at that
date. Non-monetary items measured at fair value that
are denominated in foreign currencies are retranslated
at the rates prevailing at the date when the fair value
was measured. Non-monetary items that are measured
in terms of historical cost in a foreign currency are not
retranslated.

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
financial statements shall be recognised in profit or loss
in the period in which they arise except for:

• 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; and

• Exchange differences on transactions entered to
hedge certain foreign currency risks.

2.8 Employee Benefits2.8.1 Defined contribution plans

The Company's contribution to provident
fund and superannuation fund is considered
as defined contribution plan and is charged
as an expense in profit and loss based on the
amount of contribution required to be made. The
Company has no further payment obligations
once the contributions have been paid.

2.8.2 Defined benefit plan

Defined benefit gratuity plan is wholly or partly
funded by contributions by the Company. The
liability or assets recognised in the Balance
Sheet in respect of defined benefit gratuity
plan is the present value of the defined benefit
obligation at the end of the reporting period less
the fair value of the plan assets. The defined
benefit obligation is calculated by actuaries
using an actuarial technique, the projected unit
credit method.

The present value of the defined benefit
obligation is determined by discounting the
estimated future cash outflows with reference
to market yields at the end of the reporting
period on government bonds that have terms
approximating to the terms of the related
obligation.

Net interest on the net defined benefit liability
(asset) is the change during the period in the net
defined benefit liability (asset) that arises from
the passage of time.

The net interest cost is calculated applying the
discount rate to the net balance of the defined

benefit obligation and the fair value of plan
assets. This cost is included in the employee
benefit expenses in the Statement of Profit and
Loss.

2.8.3 Remeasurement gains/losses

Remeasurement of defined benefit plans,
comprising of actuarial gains or losses, return
on plan assets excluding interest income
are recognised immediately in balance sheet
with corresponding debit or credit to other
comprehensive income. They are included
in Retained Earnings in the Statement of
Changes in Equity and in the Balance Sheet.
Remeasurements of the net defined benefit
liability (asset) recognised in other comprehensive
income shall not be reclassified to profit or loss
in subsequent period.

Remeasurement gains or losses on long term
compensated absences that are classified as
other long term benefits are recognised in profit
or loss.

2.8.4 Short-term and other long-term employee
benefits:

The undiscounted amount of short-term
employee benefits expected to be paid
in exchange for the services rendered by
employees are recognised during the year when
the employees render the service. These benefits
include performance incentive and compensated
absences which are expected to occur within
twelve months after the end of the period in
which the employee renders the related service.

The cost of short-term compensated absences is
accounted as under:

(a) in case of accumulated compensated
absences, when employees render the
services that increase their entitlement
of future compensated absences; and

(b) in case of non-accumulating compensated
absences, when the absences occur.

Compensated absences which are not expected to
occur within twelve months after the end of the
period in which the employee renders the related

service are recognised as a liability at the present
value of expected future payments to be made in
respect of services provided by employees upto
the end of the reporting period using the projected
unit credit method. The benefits are discounted
using the market yields at the end of the reporting
period that have terms approximating to the terms
of the related obligation. Remeasurements as a
result of experience adjustments and changes in
actuarial assumptions are recognised in Statement
of Profit and Loss.

2.8.5 Employee Stock Option Scheme

Equity-settled share-based payments to
employees are measured at the fair value of the
equity instruments at the grant date. The fair
value determined at the grant date of the equity-
settled share-based payments is expensed on a
straight-line basis over the vesting period, based
on the Company's estimate of equity instruments
that will eventually vest, with a corresponding
increase in equity.

At the end of each reporting period the
Company revises its estimate of the number
of equity instruments expected to vest. The
impact of revision of the original estimate,
if any, is recognised in profit or loss such that
the cumulative expense reflects the revised
estimate with the corresponding adjustments to
the equity settled.

2.9 Cash and Cash Equivalents

Cash and cash equivalent in the Balance sheet comprise
cash at banks and on hand and short-term deposits with
an original maturity of three months or less, which are
subject to insignificant risk of changes in value.

2.10 Earnings per share

The Company reports basic and diluted earnings per
share in accordance with Ind AS - 33 on 'Earnings per
Share'. Basic earnings per share is computed by dividing
the profit or loss attributable to ordinary equity holders
of the Company for the year by the weighted average
number of Equity shares outstanding during the year.
Diluted earnings per share is computed by dividing the
profit or loss attributable to ordinary equity holders
of the Company for the year by the weighted average
number of equity shares outstanding during the year as

adjusted for the effects of all dilutive potential equity
shares except where the results are anti- dilutive.

2.11 Borrowing costs

Borrowing costs directly attributable to the acquisition,
construction or production of qualifying assets, which
are assets that necessarily take a substantial period
of time to get ready for their intended use or sale, are
added to the cost of those assets, until substantially all
the activities necessary to prepare the qualifying assets
for its intended use or sale are complete.

Investment income earned on the temporary investment
of specific borrowings pending their expenditure on
qualifying assets is deducted from the borrowing costs
eligible for capitalisation.

All other borrowing costs are recognised in profit or loss
in the period in which they are incurred.

2.12 Income Taxes

Income Tax expense represents the sum of tax currently
payable and deferred tax.

2.12.1 Current tax

Current tax assets and liabilities are measured
at the amount expected to be recovered from or
paid to the taxation authorities. The tax rates and
tax laws used to compute the amount are those
that are enacted or substantively enacted, at the
reporting date. Current tax items are recognised
in correlation to the underlying transaction
either in OCI or directly in Equity.

2.12.2 Deferred tax

Deferred tax is recognised on temporary
differences between the carrying amounts of
assets and liabilities in the financial statements
and the corresponding tax bases used in the
computation of taxable profit. Deferred tax
liabilities are generally recognised for all taxable
temporary differences. Deferred tax assets are
generally recognised for all deductible temporary
differences to the extent that it is probable that
taxable profits will be available against which
those deductible temporary differences can be
utilised. Such deferred tax assets and liabilities
are not recognised if the temporary difference

arises from the initial recognition (other than in
a business combination) of assets and liabilities
in a transaction that affects neither the taxable
profit nor the accounting profit.

Deferred tax assets are recognised for all
deductible temporary differences and unused
tax losses only if it is probable that future
taxable amounts will be available to utilise those
temporary differences and losses.

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

Deferred tax assets and liabilities are offset
when there is a legally enforceable right to
offset when the deferred tax balances relate to
the same taxation authority. Current tax assets
and tax liabilities are offset where the entity has
a legally enforceable right to offset and intends
either to settle on a net basis, or to realise the
asset and settle the liability simultaneously.

2.12.3 Current and deferred tax for the year

Current and deferred tax are recognised in profit
or loss, except when they relate to items that
are recognised in other comprehensive income
or directly in equity, in which case, the current
and deferred tax are also recognised in other
comprehensive income or directly in equity
respectively.

2.13 Property, plant and equipment

Land and buildings held for use in the production
or supply of goods or services, or for administrative
purposes, are stated in the balance sheet at cost less
accumulated depreciation and accumulated impairment
losses. Freehold land is not depreciated.

Properties in the course of construction for production,
supply or administrative purposes are carried at cost,
less any recognised impairment loss. Cost includes
professional fees and, for qualifying assets, borrowing
costs capitalised in accordance with the Company's
accounting policy. Such properties are classified to
the appropriate categories of property, plant and

equipment when completed and ready for intended use.
Depreciation of these assets, on the same basis as other
property assets, commences when the assets are ready
for their intended use.

Furniture & Fixtures and Office equipment's are
stated at cost less accumulated depreciation and
accumulated impairment losses.

Depreciation is recognised so as to write off the
cost of assets (other than freehold land and
properties under construction) less their residual
values over their useful lives, using the straight¬
line method. The estimated useful lives, residual
values and depreciation method are reviewed at
the end of each reporting period, with the effect
of any changes in estimate accounted for on a
prospective basis.

An item of property, plant and equipment is
derecognised upon disposal or when no future
economic benefits are expected to arise from
the continued use of the asset. Any gain or loss
arising on the disposal or retirement of an item
of property, plant and equipment is determined
as the difference between the sales proceeds
and the carrying amount of the asset and is
recognised in profit or loss.

Depreciation on tangible fixed assets has been
provided on pro-rata basis, on the straight¬
line method as per the useful life prescribed in
Schedule II to the Companies Act, 2013 except
for certain assets as indicated below:

Lease hold improvements are amortised over
the period of lease/estimated period of lease.

Vehicles used by employees are depreciated over
the period of 48 months considering this period
as the useful life of the vehicle for the Company.

Sales office and the sample flat/ show unit cost
at site is amortised over 5 years or the duration
of the project (as estimated by management)
whichever is lower.

Computers, computer equipment's and furniture
and fixtures are depreciated over the period of 1
year to 10 years.

Plant and equipment's are depreciated over the
period of 1 year to 7 years.

Fixed Assets held for disposal are measured at
the lower of their carrying value and fair value
less costs to sell.

2.14 Intangible Assets2.14.1 Intangible assets acquired separately

Intangible assets with finite useful lives that
are acquired separately are carried at cost less
accumulated amortisation and accumulated
impairment losses. Amortisation is recognised on
a straight-line basis over their estimated useful
lives. The estimated useful life and amortisation
method are reviewed at the end of each
reporting period, with the effect of any changes
in estimate being accounted for on a prospective
basis.

2.14.2 Derecognition of Intangible assets

An intangible asset is derecognised on disposal,
or when no future economic benefits are
expected from use or disposal. Gains or losses
arising from derecognition of an intangible asset,
measured as the difference between the net
disposal proceeds and the carrying amount of
the asset are recognised in profit or loss when
the asset is derecognised.

2.14.3 Useful lives of Intangible assets

Estimated useful lives of the intangible assets
are as follows:

Computer Software 5 years

2.15 Impairment of tangible and intangible asset

At the end of each reporting period, the Company reviews
the carrying amounts of its tangible and intangible
assets to determine whether there is any indication
that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount,
which is the higher of the value in use or fair value less
cost to sell, of the asset or cash generating unit, as the
case may be, is estimated and the impairment loss (if
any) is recognised and the carrying amount is reduced
to its recoverable amount. When it is not possible to
estimate the recoverable amount of an individual asset,

the Company estimates the recoverable amount of
the cash-generating unit to which the asset belongs.
When a reasonable and consistent basis of allocation
can be identified, corporate assets are also allocated to
individual cash-generating units, or otherwise they are
allocated to the smallest group of cash-generating units
for which a reasonable and consistent allocation basis
can be identified.

Intangible assets with indefinite useful lives and
intangible assets not yet available for use are tested for
impairment at least annually, and whenever there is an
indication that the asset may be impaired.

When an impairment loss subsequently reverses, the
carrying amount of the asset (or a cash-generating unit)
is increased to the revised estimate of its recoverable
amount, but so that the increased carrying amount does
not exceed the carrying amount that would have been
determined had no impairment loss been recognised
for the asset (or cash-generating unit) in prior years.
A reversal of an impairment loss is recognised
immediately in profit or loss.

2.16 Assets held for sale

Assets or disposal groups are classified as held for sale if
its carrying amount will be recovered principally through
a sale transaction rather than through continuing use.
To classify as held for sale, the asset must be available
for immediate sale in its present condition, its sale must
be highly probable and is marketed for sale at a price
that is reasonable in relation to its current fair value.
The Company must also be committed to the sale,
which should be expected to qualify for recognition
as a completed sale within one year from the date of
classification. Assets and disposal groups classified as
held for sale are measured at the lower of their carrying
value and fair value less costs to sell.