a) We have audited the accompanying Standalone Financial Statements of JirlraJ Civil Developers
Limited '"the Company"), which comprise the Balance Sheet as at March 31, 202b, the State .
o* Profit and Loss, and the Statement of Cash Flows for the year ended on that date, and a summary
of the significant accounting policies and other explanatory information (hereinafter referred to as
"the Standalone Financial Statements").
b) In our opinion and to the best of our Information and according to the explanations given to us, the
aforesaid Standalone Financial Statements give the Information required by the Companies Act, 20. J
(' the Act") in the manner so required and give a true and fair view In conformity with the Accounting
Standards prescribed under section 133 of the Act read with the Companies (Accounting Standards
Rules, 201b, as amended, and other accounting principles generally accepted in India, or the state of
affairs of the Company as at March 31, 2025, the profit and its cash flows for the year ended on
that date
2. Basis of Opinion
We conducted our audit of the Standalone Financial Statements in accordance with the Standards
on Auditing specified under section 143(10) or the Act (SAs). Our responsibilities under those
Standards are further described in the Auditor's Responsibilities for the Audit of the Standa.one
Finandal Statements section of our report. We are independent of the Company Ini accordance wrtth
the Code of Ethics issued by the Institute or Chartered Accountants of India (ICAI) together with the
independence requirements that are relevant to our audit of the financial statements under the
provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the ICAI S Code of Ethics. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion on the Standalone Financial Statements.
3. Key Audit Matters
Key Audit Matters are these matters that, in our professional Judgment, were of most significance in
our Audit of Standalone financial statement of the current period. These matters were addressed in
the context or our Audit of Standalone financial statement as a whole, and In forming our opinion
thereon, and we do not provide a separate opinion on these matters. There are no significant key audit
matters observed by us except the matters reported In the notes to accounts.
4. Information Other than the Standalone Financial Statements and Auditor's Report Thereon:
a) The Company's Board of Directors Is responsible for the preparation of the other information. The
other information comprises the information included in the Management Discussion and Analysis,
Board's Report Including Annexures to 8oard's Report, Business Responsibility Report, Corporate
Governance and Shareholder's Information, but does not include the Standalone Financial Statements
and our auditor's report thereon. Our opinion on the standalone financial statements does not cover
the other information and we do not express any form of assurance oonduslon thereon.
b) In connection with our audit of the financial statements, our responsibility Is to read the other
information and, In doing so, consider whether the other information Is materially inconsistent with
the standalone Financial Statements or our knowledge obtained during the course of our audit or
otherwise appears to be materially misstated. If, based on the work we have performed, we condude
that there is no material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
5. Management's Responsibility for the Standalone Financial Statements
a) The Company's Board of Directors Is responsible for the matters stated In section 134(5) of the
Act with respect to the preparation of these Standalone Financial Statements that give a true and
fair view of the financial position, financial performance, total comprehensive Income, changes in
equity and cash flows of the Company n accordance with the accounting standard and other
accounting principles generally accepted in India. This responsibility also Includes maintenance of
adequate accounting records in accordance with the provisions of the Act for safeguarding the
assets of the Company and for preventing and detecting frauds and other Irregularities; selection and
application of appropriate accounting policies; making judgments and estimates that are reasonable
and prudent; and design, implementation and maintenance of adequate Internal financial controls,
that were operating effectively for ensuring the accuracy and completeness of the accounting
records, relevant to the preparation and presentation of the standalone financial statements that
give a true and fair view and are free from material misstatement, whether due to fraud or error.
b) In preparing the Standalone Financial Statements, management is responsible for assessing the
Company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless management either intends to
liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board
of Directors are responsible for overseeing the Company's financial reporting process.
6. Auditor's Responsibilities for the Audit of the Standalone Financial Statements
a) Our objectives are to obtain reasonable assurance about whether the Standalone Financial
Statements as a whole are free from material misstatement, whether due to fraud or error, and to
issue an auditor's report that indudes our opinion. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance with SAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material f, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these Standalone Financial Statements.
b) As part of an audit in accordance with SAs, we exercise professional Judgment and maintain
professional skepticism throughout the audit. We also:
D
i) Identify and assess the risks of material misstatement of the standalone financial statements,
whether due to fraud or error, design and perform audit procedures responsive to those risks,
and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The
risk of not detecting a material misstatement resulting from fraud is higher than for one resulting
from error, as fraud may Involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal control.
il) Obtain an understanding of internal financial controls relevant to the audit In order to design audit
procedures that are appropriate in the circumstances. Under section 143(3)(l) of the Act, we are
also responsible for expressing our opinion on whether the Company has adequate Internal financial
controls with reference to financial statements in place and the operating effectiveness of such
controls.
Ill) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management
iv) Conclude on the appropriateness of management's use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Company's ability to continue as a going concern.
If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s
report to the related disclosures in the Standalone Financial Statements or, if such disclosures are
Inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to
the date of our auditor's report. However, future events or conditions may cause the Company
to cease to continue as a going concern
v) Evaluate the overall presentation, structure and content of the Standalone Financial Statements,
induing the disclosures, and whether the Standalone Fmandal Statements represent the
underlying transactions and events in a manner that achieves fair presentation
c) Materiality is the magnitude of misstatements In the Standalone Financial Statements that, incivldually
or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of
the Standalone Financial Statements may be influenced. We consider quantitative materiality and
qualitative factors In (I) planning tho scope of our aud t work and in evaluating the results of our work;
and (ii) to evaluate the effect of any identified misstatements In the Standalone Financial Statements.
d) We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, nduding any significant deficiencies in
internal control that we identify during our audit.
e) We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and
other matters that may reasonably be thought to bear on our independence, and where applicable,
related safeguards.
U Ho I__11
XI. Report on other Legal and regulatory requirements
l. As required by Section 143(3) of the Act, based on our audit we report that:
a) We have sought and obtained all the Information and explanations which to the best of our knowledge
and belief wero necessary fey the purposes of our audit
b) In our opinion, proper books of account as required by lav/ have been kept by the Company so far as
it appears from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss and the Statement of Cash Flow dealt with by
this Report are In agreement with the relevant books of account
d) In our opinion, the aforesaid standalone financial statements comply v/ith the accounting
standard specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,
2014
e) On the basis of the written representations received from the directors as on March 31, 2025 taken
on record by the Board of Directors, none of the directors Is disqualified as on March 31, 202$ from
being appointed as a director in terms of Section 164 (2) of the Act.
f) With respect to the adequacy of the Internal financial controls with reference to financial statements of
the Company and the operating effectiveness of such controls, refer to our separate Report «n
"Annexure A". Our report expresses an unmodified opinion on the adequacy and operating
effectiveness of the Company's internal Financial controls with reference to financial statements.
g) With respect to the other matters to be Included In the Auditor's Report In accordance with the
requirements of section 197(16) of the Act, as amended. In our opinion and to the best of our
information and according to the explanations given to us, the remuneration paid by the Company to
its directors during the year is in accordance with the provisions of section 197 of the Act.
h) With respect to the other matters to be included In the Auditor's Report In accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2021, as amended in our opinion and to the best of our
information and according to the explanations given to us:
I) The Company has disclosed the impact of pending litigations on its financial positron in its Standalone
Financial Statements
II) The Company has made provision, as required under the applicable law or accounting standards,
for material foreseeable losses, if any, on long-term contracts Including derivative contracts
iii) There has been no delay In transferring amounts, required to be transferred, to the Investor
Education and Protection Fund by the Company.
iv) a) The management has represented that, to the best of it's knowledge and belief, other than as
disclosed in the notes to the accounts, no funds have been advanced or loaned or Invested (either
from borrowed funds or share premium or any other sources or kind of funds) by the company to
or In any other person(s) or entity(ies), including foreign entitles ("Intermediaries'"), with the
understanding, whether recorded In writing or otherwise, that the Intermediary shall, whether,
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 provide any guarantee, secunty or
the like on behalf of the Ultimate Beneficiaries;
b) The management has represented, that, to the best of it's knowledge and belief, other than as
disclosed in the notes to the accounts, no funds have been received by the company from any
person(s) or entity(ies), including foreign entities (Tending Parties*'), with the understanding,
whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly,
lend or invest in other persons or entitles Identified in any manner whatsoever by or on behalf of
the funding Party (“Ultimate Beneficiaries") or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries; and
c) Based on such audit procedures that the auditor has considered reasonable and appropriate in
the circumstances, nothing has come to their notice that has caused them to believe that the
representations under sub-clause (a) and (b) contain any material mis-statement.
d) The company has not declared or paid dividend during the year In contravention of the section
123 ol the Companies Act, 2013
i) Based on our examination which Included test checks, the Company has used accounting softwarc(s)
for maintaining its books of account for the financial year ended March 31, 2025, which have a feature
of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant
transactions recorded In the software(s). Further, during the course of our audit, we did not come across
any Instance of audit trail feature being tampered with. As proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014 is applicable from April 1, 2023, reporting under Rule 11(g) of Companies (Audit
and Auditors) Rules, 2014 on preservation of audit trail as per the statutory requirements for record
retention is not applicable for the financial year ended March 31, 2025.
2. As required by the Companies (Auditor's Report) Order, 2020 ("the Order”) issued by the Central
Government in terms of Section 143( 11) of the Act, we give in "Annexure B" a statement on the matters
specified In paragraphs 3 and 4 of the Order.
For R H A D & Co.
Chartered Accountants
(Firm Reg. No. 102588W)
to
f '• V Vi W-MCT/-
(Dinesh Bangar)
Partner
M. No.036247
Place: Mumbai
Dated: 29/05/2025
UDIN:25036247BMLWWQ4000
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