Mar 31, 2014
A. Basis of Preparation of Financial Statements
The financial statements have been prepared with the Generally Accepted
Accounting Principles in India (Indian GAAP) to comply in all material
respects with the accounting standards notified by Companies
(Accounting Standards) Rules, 2006 (as amended) and the relevant
provisions of the Companies Act, 1956. The financial statements have
been prepared under the historical cost convention on an accrual basis.
The accountings policies have been consistently applied by the Company
and are consistent with those used in the previous period.
b. Use of Estimates
The preparation of the financial statements requires the management to
take reasonable estimates and assumption that affect the reported
amount of assets, liabilities and disclosure of contingent liabilities
as at the date of the financial statements. Management believes that
these estimates are reasonable and prudent. However, actual results may
differ from estimates.
c. Cash Flow Statements
Cash flow statement of the company reports cash flows during the period
classified by operating, investing and financial activities.
d. Revenue Recognition
Incomes/Revenues are accounted for on accrual basis except for dividend
and interest on income-tax and sales-tax refund. Revenue is recognised
to the extent that it is probable that the economic benefit will flow
to the company and the revenue can be reliably measured.
Revenue on account of contracts including back to back contracts is
recognised on the basis of the certification of work done by the
principal contractor.
e. Fixed Assets
Fixed Assets are stated at cost including all incidental expenses
incurred for bringing the asset to its current position, less
depreciation at rates prescribed in Schedule XIV to the Companies Act,
1956, subject to provisions of Accounting Standard 26 "Intangible
Assets" issued by Institute of Chartered Accountants of India.
f. Depreciation
Depreciation has been provided on Straight Line Method in accordance
with section 205(2) of the Companies Act, 1956 at the rates specified
in schedule XIV to the Companies Act, 1956, on pro-rata basis with
reference to the period of use of such assets. Assets costing less than
" 5,000/- per item are depreciated at 100% in the year of purchase.
g. Amortisation of Intangible Assets
Intangible Assets as defined in Accounting Standard 26-"lntangible
Assets" are valued at cost and amortised as per its useful life and
value in use.
h. Inventories
Value of work uncertified by the principal contractor, in relation to
contract is determined and valued by the management at the year-end and
is carried at cost in the balance sheet as Uncertified Contract
Revenues.
Property for re-development is valued at cost.
Stock of raw materials, trading goods, stores, spares and consumables
is valued at cost.
I. Impairment of Assets
The carrying amounts of Cash Generating Units/Assets are reviewed at
each Balance Sheet date to determine whether there is any indication of
impairment. If any such indication exists, the recoverable amount is
estimated at the higher of net realisable value and value in use.
Impairment loss is recognised wherever carrying amount exceeds the
recoverable amount.
j. Investments
Investments are done in the name of company and valued at its cost,
including the amount directly incurred for the purchase of the same,
i.e. brokerage, commission etc.
k. Retirement Benefits
All short-term employee benefits are recognised at their undiscounted
amount in the accounting period in which they are incurred.
Retirement Benefits in the form of gratuity and leave salary is
accounted on payment basis in the year of payment.
l. Borrowing cost
Borrowing cost attributable to the acquisition of fixed assets is
capitalised as the part of the cost of that fixed assets, till the date
it is put to use. Other borrowing cost is recognised as expenditure in
the period in which they are accrued.
m. Segmental reporting
Operations of the company have been bifurcated into two primary
segments i.e. Infrastructure and Trading Segments.
Segment Revenue, Results and Assets and Liabilities figures include the
respective amounts identifiable to each of the Primary Segments. Other
unallocable expenditure, assets and liabilities relates to corporate as
a whole.
n. Leases
Lease arrangements where the risks and rewards incident to ownership of
an asset substantially vest with the lessor, are recognised as
operating leases. Lease rentals under operating leases are recognised
in the revenue account on a straight line basis.
o. Earnings Per Share
Earnings per Share has been computed in accordance with Accounting
Standard 20 - "Earning Per Share" by dividing the net profit or loss
for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. The
earnings considered for ascertaining the company''s Earnings per Share
is the net profit after tax.
p. Income Tax
Provision for current tax is made for the tax liability payable on
taxable income after considering the allowances, deductions and
exemptions and disallowances if any determined in accordance with the
prevailing tax laws.
The differences between the taxable income and the net profit or loss
before tax for the period as per the financial statements are
identified and the tax effect on the "timing differences" is recognised
as deferred tax asset or deferred tax liability. The tax effect is
calculated on the accumulated timing differences at the end of the
accounting period based on the tax rates and laws, enacted or
substantively enacted as of the balance sheet date.
q. Provisions, Contingent Liabilities and Contingent Assets
The Company creates a provision when there is a present obligation as a
result of an obligating event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
outflow.
Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but their existence is confirmed by the
occurrence or non-occurrence of one or more uncertain future events not
within the control of the company.
Contingent Assets are neither recognised nor disclosed in the Financial
Statements as a matter of prudence.
Mar 31, 2013
A. Basis of Preparation of Financial Statements
The financial statements have been prepared with the Generally Accepted
Accounting Principles in India (Indian GAAP) to comply in all material
respects with the accounting standards notified by Companies
(Accounting Standards) Rules, 2006 (as amended) and the relevant
provisions of the Companies Act, 1956. The financial statements have
been prepared under the historical cost convention on an accrual basis.
The accountings policies have been consistently applied by the Company
and are consistent with those used in the previous period.
b. Use of Estimates
The preparation of the financial statements requires the management to
take reasonable estimates and assumption that affect the reported
amount of assets, liabilities and disclosure of contingent liabilities
as at the date of the financial statements. Management believes that
these estimates are reasonable and prudent However, actual results may
differ from estimates.
c. Cash Flow Statements
Cash flow statement of the company reports cash flows during the period
classified by operating, investing and financial activities.
d. Revenue Recognition
Incomes/Revenues are accounted for on accrual basis except for dividend
and interest on income-tax and sales-tax refund. Revenue is recognised
to the extent that it is probable that the economic benefit will flow
to the company and the revenue can be reliably measured.
Revenue on account of contracts including back to back contracts is
recognised on the basis of the certification of work done by the
principal contractor.
e. Fixed Assets
Fixed Assets are stated at cost including all incidental expenses
incurred for bringing the asset to its current position, less
depreciation at rates prescribed in Schedule XIV to the Companies Act,
1956, subject to provisions of Accounting Standard 26 Intangible
Assets" issued by Institute of Chartered Accountants of India.
f. Depreciation
Depreciation has been provided on Straight Line Method in accordance
with section 205(2) of the Companies Act, 1956 at the rates specified
in schedule XIV to the Companies Act, 1956, on pro-rata basis with
reference to the period of use of such assets. Assets costing less than
Rs. 5,000/- per item are depreciated at 100% in the year of purchase.
g. Amortisation of Intangible Assets
Intangible Assets as defined in Accounting Standard 26-"lntangible
Assets" are valued at cost and amortised as per its useful life and
value in use.
h. Inventories
Value of work uncertified by the principal contractor, in relation to
contract is determined and valued by the management at the year-end and
is carried at cost in the balance sheet as Uncertified Contract
Revenues.
Property for re-development is valued at cost.
Stock of raw materials, trading goods, stores, spares and consumables
is valued at cost.
i. Impairment of Assets
The carrying amounts of Cash Generating Units/Assets are reviewed at
each Balance Sheet date to determine whether there is any indication of
impairment If any such indication exists, the recoverable amount is
estimated at the higher of net realisable value and value in use.
Impairment loss is recognised wherever carrying amount exceeds the
recoverable amount.
j. Investments
Investments are done in the name of company and valued at its cost.
k. Retirement Benefits
All short-term employee benefits are recognised at their undiscounted
amount in the accounting period in which they are incurred.
Retirement Benefits in the form of gratuity and leave salary is
accounted on payment basis in the year of payment.
L Borrowing cost
Borrowing cost attributable to the acquisition of fixed assets is
capitalised as the part of the cost of that fixed assets, till the date
it is put to use. Other borrowing cost is recognised as expenditure in
the period in which they are accrued.
m. Segmental reporting
Operations of the company have been bifurcated into three primary
segments i.e. Infrastructure, Realty and Trading Segments.
Segment Revenue, Results and Assets and Liabilities figures include the
respective amounts identifiable to each of the Primary Segments. Other
unallocable expenditure, assets and liabilities relates to corporate as
a whole.
n. Leases
Lease arrangements where the risks and rewards incident to ownership of
an asset substantially vest with the lessor, are recognised as
operating leases. Lease rentals under operating leases are recognised
in the revenue account on a straight line basis.
o. Earnings Per Share
Earnings per Share has been computed in accordance with Accounting
Standard 20 - "Earning Per Share" by dividing the net profit or loss
for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. The
earnings considered for ascertaining the company''s Earnings per Share
is the net profit after tax.
p. Income Tax
Provision for current tax is made for the tax liability payable on
taxable income after considering the allowances, deductions and
exemptions and disallowances if any determined in accordance with the
prevailing tax laws.
The differences between the taxable income and the net profit or loss
before tax for the period as perthe financial statements are identified
and the tax effect on the "timing differences" is recognised as
deferred tax asset or deferred tax liability. The tax effect is
calculated on the accumulated timing differences at the end of the
accounting period based on the tax rates and laws, enacted or
substantively enacted as of the balance sheet date.
q. Provisions, Contingent Liabilities and Contingent Assets
The Company creates a provision when there is a present obligation as a
result of an obligating event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
outflow.
Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but their existence is confirmed by the
occurrence or non-occurrence of one or more uncertain future events not
within the control of the company.
Contingent Assets are neither recognised nor disclosed in the Financial
Statements as a matter of prudence.
Mar 31, 2012
A Basic of Preparation of Financial Statements
The financial statements have been prepared with the Generally Accepted
Accounting Principles in India (Indian GAAP) to comply in all material
respects with the accounting standards notified by Companies
(Accounting Standards) Rules, 2006 (as amended) and the relevant
provisions of the Companies Act, 1956. The financial statements have
been prepared under the historical cost convention on an accrual basis.
The accountings policies have been consistently applied by the Company
and are consistent with those used in the previous period.
b. llaa of Estimates
The preparation of the financial statements requires the management to
take reasonable estimates and assumption that affect the reported
amount of assets, liabilities and disclosure of contingent liabilities
as at the date of tfie financial statements. Management believes that
these estimates are reasonable and prudent. However, actual results
may differ from estimates.
c. Cash Flow Statements
Cash flow statement of the company reports cash flows during the period
classified by operating, investing and financial activities.
d. Revenue Recognition
Incomes/Revenues are accounted for on accrual basis except for dividend
and interest on income-tax and saies-tax refund. Revenue is recognised
to the extent that it is probable that the economic benefit will Bow to
the company and the revenue can be reliably measured.
Revenue on account of contracts including back to back contracts is
recognised on the basis of the certification of work done by the
principal contractor.
e. Fixed Assets
Fixed Assets are stated at cost including alt incidental expenses
incurred for bringing the asset to its current position, less
depreciation at rates prescribed in Schedule XIV to the Companies Act,
1956, subject to provisions of Accounting Standard 26 'Intangible
Assets* issued by Institute of Chartered Accountants of kxSa.
f. Depreciation
Depreciation has been provided on Straight Line Method in accordance
with section205(2) of the Companies Act, 1956 at the rates specified in
schedule XIV to the Companies Act, 1956, on pro-rata basis with
reference to the period of use of such assets. Assets costing less than
? 5,000/- per item are depreciated at 100% in the year of purchase.
g. Amortisation of Intangible Assets
Intangible Assets as defined in Accounting Standard 26-'lrrtangible
Assets' are valued at cost and amortised as per its useful life and
value in use.
h. Inventories
Value of work uncertified by the principal contractor, in relation to
contract is determined and valued by the management at the year-end and
is carried at cost in the balance sheet as Uncertified Contract
Revenues.
Property for re-development is valued at cost.
Stock of raw materials, trading goods, stores, spares and consumables
is valued at cost.
L Impairment of Assets
The carrying amounts of Cash Generating Units/Assets are reviewed at
each Balance Sheet date to determine whether there is any indication of
impairment. If any such indication exists, the recoverable amount is
estimated at the higher of net realisable value and value in use.
Impairment loss is recognised wherever carrying amount exceeds the
recoverable amount.
J. Investments
Investments are done in the name of company and valued at its cost.
k. Retirement Benefits
All short-term employee benefits are recognised at their undiscounted
amount in the accounting period in which they are incurred.
Retirement Benefits in the form of gratuity and leave salary is
accounted on payment basis in the year of payment
I. Borrowing cost
Borrowing cost attributable to the acquisition of fixed assets is
capitalised as the part of the cost of that fixed assets, till the date
it is put to use. Other borrowing cost is recognised as expenditure in
the period in which they are accrued.
m. Segmental reporting
Operations of the company have been bifurcated into three primary
segments i.e. Infrastructure, Realty and T rading Segments.
Segment Revenue, Results and Assets and Liabilities figures include the
respective amounts identifiable to each of the Primary Segments. Other
unallocable expenditure, assets and liabilities relates to corporate as
a whole.
n. Leases
Lease arrangements where the risks and rewards incident to ownership of
an asset substantially vest with the lessor, are recognised as
operating leases. Lease rentals under operating leases are recognised
in the revenue account on a straight line basis.
o. Earnings Per Share
Earnings per Share has been computed in accordance the Accounting
Standard 20 - "Earning Per Share' by dividing the net profit or loss
for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. The
earnings considered for ascertaining company's Earnings per Share
is the net profit after tax.
p. Income Tax
Provision for current tax is made for the tax liability payable on
taxable income after consicteringlheanowances, deductions and
exemptions and disallowances if any determined in accordance with the
prevailing tax laws.
The differences between the taxable income and the net profit or loss
before tax for the period as per the financial statements are
identified and the tax effect on the Ãtiming differences" is
recognised as deferred tax
asset or deferred tax liability. The tax effect is calculated on the
accumulated timing differences at the end of the accounting period
based on the tax rates and laws, enacted or substantively enacted as of
the balance sheet date.
q. Provisions, Contingent Liabilities and Contingent Assets
The Company creates a provision when there is a present obligation as a
result of an obligating event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
outflow.
Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but their existence is confirmed by the
occurrence or non-occurrence of one or more uncertain future events not
within the control of the company.
Contingent Assets are neither recognised nor disclosed in the Financial
Statements as a matter of prudence.
Mar 31, 2011
A. Basis of Preparation of Financial Statements
The financial statements have been prepared to comply in all material
respects with the accounting standards notified by Companies
(Accounting Standards) Rules, 2006 (as amended) and the relevant
provisions of the Companies Act, 1956. The financial statements have
been prepared under the historical cost convention on an accrual basis.
The accountings policies have been consistently applied by the Company
and are consistent with those used in the previous period.
b. Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
year end. Although these estimates are based upon management's best
knowledge of current events and actions, belief that these estimates
are reasonable and prudent, actual results may differ from estimates.
c. Cash Flow Statements
Cash flow statement of the company reports cash flows during the period
classified by operating, investing and financial activities.
d. Revenue Recognition
Incomes/Revenues are accounted for on accrual basis except for dividend
and interest on income-tax and sales-tax refund. Revenue is recognised
to the extent that it is probable that the economic benefit will flow
to the company and the revenue can be reliably measured.
Revenue on account of contracts including back to back contracts, is
recognized on the basis of the clarification of work done by the
Principal Contractor.
e. Fixed Assets
Fixed Assets are stated at cost including all incidental expenses
incurred for bringing the asset to its current position, less
depreciation at rates prescribed in Schedule XIV to the Companies Act,
1956, subject to provisions of Accounting Standard 26 "Intangible
Assets" issued by Institute of Chartered Accountants of India.
f. Depreciation
Depreciation has been provided on Straight Line Method in accordance
with section 205(2) of the Companies Act, 1956 at the rates specified
in schedule XIV to the Companies Act, 1956, on pro-rata basis with
reference to the period of use of such assets. Assets costing less than
Rs. 5,000/- per item are depreciated at 100% in the year of purchase.
g. Amortisation of Intangible Assets
Intangible Assets as defined in Accounting Standard 26-"lntangible
Assets" are valued at cost and amortised as per its useful life and
value in use.
h. Inventories
Value of work uncertified by the principal contractor, in relation to
contract is determined and valued by the management at the year-end and
is carried at cost in the balance sheet as Uncertified Contract
Revenues. Property for re-development is valued at cost. Stock of
trading goods, stores, spares and consumables is valued at cost.
i. Impairment of Assets
The carrying amounts of Cash Generating Units/Assets are reviewed at
each Balance Sheet date to determine whether there is any indication of
impairment. If any such indication exists, the recoverable amount is
estimated at the higher of net realisable value and value in use.
Impairment loss is recognised wherever carrying amount exceeds the
recoverable amount.
j. Investments
Investments are done in the name of company and valued at its cost.
k. Retirement Benefits
All short-term employee benefits are recognised at their undiscounted
amount in the accounting period in which they are incurred.
Retirement Benefits in the form of gratuity and leave salary is
accounted on payment basis in the year of payment.
l. Borrowing cost
Borrowing cost attributable to the acquisition of fixed assets is
capitalised as the part of the cost of that fixed assets, till the date
it is put to use. Other borrowing cost is recognised as expenditure in
the period in which they are accrued.
m. Segmental reporting
Operations of the company have been bifurcated into two primary
segments i.e. Infrastructure and Realty Segments.
Segment Revenue, Results and Assets and Liabilities figures include the
respective amounts identifiable to each of the Primary Segments. Other
unallocable expenditure, assets and liabilities relates to corporate as
a whole.
n. Leases
Lease arrangements where the risks and rewards incident to ownership of
an asset substantially vest with the lessor, are recognised as
operating leases. Lease rentals under operating leases are recognised
in the revenue account on a straight line basis.
0. Earnings Per Share
Earnings per Share has been computed in accordance with Accounting
Standard 20 - "Earning Per Share" by dividing the net profit or loss
for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. The
earnings considered for ascertaining the company's Earnings per Share
is the net profit after tax.
p. Income Tax
Provision for current tax is made for the tax liability payable on
taxable income after considering the allowances, deductions and
exemptions and disallowances if any determined in accordance with the
prevailing tax laws.
The differences between the taxable income and the net profit or loss
before tax for the period as per the financial statements are
identified and the tax effect on the "timing differences" is recognised
as deferred tax asset or deferred tax liability. The tax effect is
calculated on the accumulated timing differences at the end of the
accounting period based on the tax rates and laws, enacted or
substantively enacted as of the balance sheet date.
q. Provisions, Contingent Liabilities and Contingent Assets
The Company creates a provision when there is a present obligation as a
result of an obligating event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
outflow. Contingent liabilities are disclosed in respect of possible
obligations that arise from past events but their existence is
confirmed by the occurrence or non-occurrence of one or more uncertain
future events not within the control of the company.
Contingent Assets are neither recognised nor disclosed in the Financial
Statements as a matter of prudence.
Mar 31, 2010
A. Basis of Preparation of Financial Statements
Financial statements are prepared on the historical cost convention, on
accrual basis, in accordance with the Generally Accepted Accounting
Principles, applicable accounting standards and the provisions of the
Companies Act, 1956.
b. Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the
date of the financial statements and the reported amounts of revenues
and expenses for the years presented. Actual results could differ from
those estimates.
c. Revenue Recognition
Incomes/Revenues are accounted for on accrual basis in accordance with
the Accounting Standard (AS-9) issued by the Institute of Chartered
Accountants of India except for dividend and interest on income-tax and
sales-tax refund. Revenue is recognised to the extent that it is
probable that the economic benefit will flow to the company and the
revenue can be reliably measured.
Revenue on account of contracts is recognised on the basis of the
certification of work done by the principal contractor.
d. Fixed Assets
Fixed Assets are stated at cost including all incidental expenses
incurred for bringing the asset to its current position, less
depreciation at rates prescribed in Schedule XIV to the Companies Act,
1956, subject to provisions of Accounting Standard 26 "Intangible
Assets" issued by Institute of Chartered Accountants of India.
e. Depreciation
Depreciation has been provided on Straight Line Method in accordance
with section 205(2) of the Companies Act, 1956 at the rates specified
in schedule XIV to the Companies Act, 1956, on pro-rata basis with
reference to the period of use of such assets. Assets costing less than
Rs. 5,000/- per item are depreciated at 100% in the year of purchase.
f. Inventories
Value of work uncertified by the principal contractor, in relation to
contract is determined and valued by the management at the year-end and
is carried at cost in the balance sheet as Uncertified Contract
Revenues.
Property for re-development is valued at cost.
Stock of stores, spares and consumables is valued at cost.
g. Impairment of Assets
The carrying amounts of Cash Generating Units/Assets are reviewed at
each Balance Sheet date to determine whether there is any indication of
impairment. If any such indication exists, the recoverable amount is
estimated at the higher of net realisable value and value in use.
Impairment loss is recognised wherever carrying amount exceeds the
recoverable amount.
h. Investments
Investments are done in the name of company and valued at its cost.
i. Retirement Benefits
All short-term employee benefits are recognised at their undiscounted
amount in the accounting period in which they are incurred.
Retirement Benefits in the form of gratuity and leave salary is
accounted on payment basis in the year of payment.
j. Income Tax
Provision for current tax is made for the tax liability payable on
taxable income after considering the allowances, deductions and
exemptions and disallowances if any determined in accordance with the
prevailing tax laws.
The differences between the taxable income and the net profit or loss
before tax for the period as per the financial statements are
identified and the tax effect on the "timing differences" is recognised
as deferred tax asset or deferred tax liability. The tax effect is
calculated on the accumulated timing differences at the end of the
accounting period based on the tax rates and laws, enacted or
substantively enacted as of the balance sheet date.
k. Borrowing cost
Borrowing cost attributable to the acquisition of fixed assets is
capitalised as the part of the cost of that fixed assets, till the date
it is put to use. Other borrowing cost is recognised as expenditure in
the period in which they are accrued.
l. Segmental reporting
Operations of the company have been bifurcated into three primary
segments i.e. Financial, Infrastructure and Realty Segments.
Segment Revenue, Results and Assets and Liabilities figures include the
respective amounts identifiable to each of the Primary Segments. Other
unallocable expenditure, assets and liabilities relates to corporate as
a whole.
m Leases
Lease arrangements where the risks and rewards incident to ownership of
an asset substantially vest with the lessor, are recognised as
operating leases. Lease rentals under operating leases are recognised
in the revenue account on a straight line basis.
n. Provisions, Contingent Liabilities and Contingent Assets
The Company creates a provision when there is a present obligation as a
result of an obligating event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
outflow.
Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but their existence is confirmed by the
occurrence or non-occurrence of one or more uncertain future events not
within the control of the company.
Contingent Assets are neither recognised nor disclosed in the Financial
Statements as a matter of prudence.