2. SIGNIFICANT ACCOUNTING POLICIES
a) BASIS OF PREPARATION
The consolidated financial statement have been prepared in accordance with Indian Accounting Standards (‘Ind
AS') notified under section 133 of the Companies Act 2013, read together with the Companies (Indian Accounting
Standards) Rules, 2015.
For all the periods up to and including the year ended 31 March, 2025, the Company prepared its consolidated
financial statements in accordance with accounting standards notified under the section 133 of the Companies Act
2013, read together with Rule 7 of the Companies (Accounts) Rules, 2014.
The consolidated financial statements have been prepared under the historical convention, on the accrual basis of
accounting. The accounting policies have been applied consistently over all the periods presented in the
consolidated financial statements.
The accounting policies have been consistently applied by the Company and are consistent with those used in the
previous year.
b) REVENUE RECOGNITION
Revenue is recognized to the extent that it is probable that economic benefits will flow to the Company and the
revenue can be reliably measured.
3. ACCOUNTING FOR TAXES ON INCOME
Tax expense comprises current and deferred 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 and tax laws prevailing in
the respective tax jurisdictions where the company operates. The tax rates and tax laws used to compute the
amount are those that are enacted or substantively enacted, at the reporting date.
Deferred income taxes reflect the impact of timing differences between taxable income and accounting income
originating during the current year and reversal of timing differences for the earlier years. Deferred tax is measured
using the tax rates and the tax laws enacted or substantively enacted at the reporting date.
Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax assets are recognized for
deductible timing differences only to the extent that there is reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be realized. In situations where the company
has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is
virtual certainty supported by convincing evidence that they can be realized against future taxable profits.
At each reporting date, the Company re-assesses unrecognized deferred tax assets. It recognizes unrecognized
deferred tax asset to the extent that it has become reasonably certain or virtually certain, as the case may be, that
sufficient future taxable income will be available against which such deferred tax assets can be realized.
The carrying amount of deferred tax assets are reviewed at each reporting date. The Company writes-down the
carrying amount of deferred tax asset to the extent that it is no longer reasonably certain or virtually certain, as the
case may be, that sufficient future taxable income will be available against which deferred tax asset can be
realized. Any such write-down is reversed to the extent that it becomes reasonably certain or virtually certain, as
the case may be, that sufficient future taxable income will be available.
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 tax assets and deferred taxes relate to the same taxable
entity and the same taxation authority.
4. CASH AND CASH EQUIVALENTS
Cash and cash equivalents balances include cash in hand, fixed deposits, margin money deposits, earmarked
balances with banks, other bank balances such as dividend accounts, which have restrictions on repatriation,
highly liquid investments with original maturities of three months or less that are readily convertible to known
amounts of cash and which are subject to an insignificant risk of change in value.
5. Significant accounting policies:
a.Convention
The financial statements are prepared under the historical cost convention in accordance with the applicable
Accounting standards and relevant presentational requirements of the Companies Act, 2013.
b. PPE
Fixed Assets are stated at cost less depreciation. Cost of acquisition or construction is inclusive of duties, taxes
and other incidental expenses.
c. Depreciation
Pursuant to applicability of schedule II of Companies Act 2013, with effect from 1st April 2014. Management has
reassessed the useful life of tangible assets based on the internal and external technical evaluation. The
depreciation on fixed assets is provided on straight line method in accordance with applicable Schedule of the
Companies Act, 2013.
d. Inventories
Inventory of Real Estate business has been valued at cost or market price whichever is lower.
e. Transactions in Foreign Currency
There were no foreign currency transactions during the year.
f. Interest
Interest in respect of fixed deposits from Bank have been accounted for on accrual basis.
g. Recognition of Income/Expenditure
All revenues and expenses are accounted for on accrual basis.
8. Leases :
The company has leased facilities for rent receivable under cancellable and non- cancellable arrangements with
lease term ranging from one to nine years, which are subject to renewal at mutual consent thereafter. The
cancellable arrangements can be terminated by either party after giving due notice. The lease rent received
recognized during the year amounts to '6.93 lakhs (previous year '12.37 lakhs). The future minimum lease rent
receivable in respect of the non-cancellable operating leases as at 31st March 2025 are :
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