Notes to Accounts of Aurum Proptech Ltd.

Mar 31, 2025

A provision is recognized when the Company has a
present legal or constructive obligation as a result of past
event and it is probable that an outflow of resources will
be required to settle the obligation, in respect of which
a reliable estimate can be made. These are reviewed at
each Balance Sheet date and adjusted to reflect the
current best estimates.

I f the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to the
liability. When discounting is used, the increase in the
provision due to the passage of time is recognized as a
finance cost.

Contingent liabilities are disclosed when there is
a possible obligation arising from past events, the
existence of which will be confirmed only by the
occurrence or non-occurrence of one or more uncertain

(iii) Equity instruments at FVTOCI

All equity instruments are measured at
fair value. Equity instruments held for
trading is classified as FVTPL. For all other
equity instruments, the Company may
make an irrevocable election to present
subsequent changes in the fair value in
OCI. The Company makes such election
on an instrument-by-instrument basis.
If the Company decides to classify an equity
instrument as at FVTOCI, then all fair value
changes on the instrument, excluding dividend
are recognized in OCI which is not subsequently
recycled to statement of profit and loss.

(iv) Financial assets at FVTPL

FVTPL is a residual category for financial
assets. Any financial asset which does not meet
the criteria for categorization as at amortized
cost or as FVTOCI, is classified as FVTPL.
In addition the Company may elect to designate
the financial asset, which otherwise meets
amortized cost or FVTOCI criteria, as FVTPL
if doing so eliminates or significantly reduces
a measurement or recognition inconsistency.
The Company has not designated any financial
asset as FVTPL. Financial assets included
within the FVTPL category are measured at
fair values with all changes in the Standalone
Statement of Profit and Loss.

b) Non-derivative financial liabilities

(i) Financial liabilities at amortized cost

Financial liabilities at amortized cost
represented by borrowings, trade and other
payables are initially recognized at fair value,
and subsequently carried at amortized cost
using the effective interest rate method.

future events not wholly within the control of the
Company or a present obligation that arises from past
events where it is either not probable that an outflow
of resources will be required to settle the obligation
or a reliable estimate of the amount cannot be made.
Contingent assets are neither recognized nor disclosed
in the standalone financial statements.

Note 2.(14). Cash and cash equivalents

The Company considers all highly liquid financial
instruments, which are readily convertible into known
amounts of cash that are subject to an insignificant
risk of change in value and having original maturities
of three months or less from the date of purchase, to
be cash equivalents. Cash and cash equivalents consist
of balances with banks which are unrestricted for
withdrawal and usage.

Note 2.(15). Financial instruments

All financial instruments are recognized initially at fair
value. Transaction costs that are attributable to the
acquisition of the financial asset (other than financial
assets recorded at fair value through profit or loss)
are included in the fair value of the financial assets.
Purchase or sales of financial assets that require delivery
of assets within a time frame established by regulation
or convention in the market place (regular way trade) are
recognized on trade date. While, loans and borrowings
and payables are recognized net of directly attributable
transaction costs.

For the purpose of subsequent measurement, financial
instruments of the Company are classified in the
following categories: non derivative financial assets
comprising amortized cost, debt instruments at fair
value through other comprehensive income (FVTOCI),
equity instruments at FVTOCI or fair value through profit
and loss account (FVTPL) and non derivative financial
liabilities at amortized cost or FVTPL.

The classification of financial instruments depends
on the objective of the business model for which it is
held. Management determines the classification of its
financial instruments at initial recognition.

a) Non-derivative financial assets

(i) Financial assets at amortized cost

A financial asset is measured at amortized cost
if both of the following conditions are met:

(a) the financial asset is held within a
business model whose objective is to
hold financial assets in order to collect
contractual cash flows and

(b) the contractual terms of the financial
asset give rise on specified dates to
cash flows that are solely payments
of principal and interest (SPPI) on the
principal amount outstanding.

They are presented as current assets, except
for those maturing later than 12 months after
the reporting date which are presented as non¬
current assets. Financial assets are measured
initially at fair value plus transaction costs
and subsequently carried at amortized cost
using the effective interest method, less any
impairment loss.

Amortised cost are represented by trade
receivables, security deposits, cash and cash
equivalents, employee and other advances and
eligible current and non-current assets.

(ii) Debt instruments at FVTOCI

A debt instrument is measured at fair value
through other comprehensive income if both
of the following conditions are met:

(a) the objective of the business model is
achieved by both collecting contractual
cash flows and selling financial assets
and

(b) the asset''s contractual cash flow
represent SPPI

Debt instruments included within FVTOCI
category are measured initially as well as
at each reporting period at fair value plus
transaction costs. Fair value movements are
recognized in other comprehensive income
(OCI). However, the Company recognizes
interest income, impairment losses & reversals
and foreign exchange gain/(loss) in Standalone
Statement of Profit and Loss. On derecognition
of the asset, cumulative gain or loss previously
recognized in OCI is reclassified from equity to
profit and loss. Interest earned is recognized
under the effective interest rate (EIR) model.

Financial liabilities at FVTPL represented by
contingent consideration are measured at
fair value with all changes recognized in the
statement of profit and loss.

c) Investment in subsidiaries

Investment in subsidiaries are carried at cost plus
additional fair value of share options granted to
employees of subsidiaries net of impairment, if any.

Note 2.(16). Contributed equity

Equity shares are classified as equity share capital.

I ncremental costs directly attributable to the issue of
new shares are shown in other equity under securities
premium as a deduction, net of tax, from the proceeds.

Note 2.(17). Earnings per share

Basic earnings per share (EPS) are calculated by dividing
the net profit / (loss) after tax for the year attributable
to equity shareholders by the weighted average number
of equity shares outstanding during the year. Diluted
earnings per share is computed by adjusting the number
of shares used for basic EPS with the weighted average
number of shares that could have been issued on the
conversion of all dilutive potential equity shares. Dilutive
potential equity shares are deemed converted as of the
beginning of the year, unless they have been issued at a
later date. The diluted potential equity shares have been
adjusted for the proceeds receivable had the shares
been actually issued at fair value i.e. average market
value of outstanding shares.

The number of shares and potentially dilutive shares
are adjusted for share splits and bonus shares, as
appropriate. In calculating diluted earnings per share,
the effects of anti dilutive potential equity shares
are ignored. Potential equity shares are anti-dilutive
when their conversion to equity shares would increase
earnings per share or decrease loss per share.

Notes :

(i) K2V2 Technologies Private Limited ( K2V2)

The Company invested '' 1,800 Lakhs in FY 2021-22 for a 44.44% equity stake in K2V2. During the year, the
Company acquired an additional 37.53% of K2V2''s equity shares for a consideration of '' 112 Lakhs, increasing
its total holding to 81.94%.

(ii) Aurum RealTech Services Private Limited (ARTL)

Under its ESOP plan, the Company granted stock options to ARTL employees. The cost associated with these
options, amounting to '' 9 Lakhs for 2024-25 has been recorded by the Company as an Investment in ARTL.

(iii) Monk Tech Labs Pte. Limited (MTL)

Under its ESOP plan, the Company has granted stock options to MTL employees. The cost associated with
these options, amounting to '' 3 Lakhs for 2024-25, has been recorded by the Company as an Investment in
MTL.

(iv) Integrow Asset Management Private Limited ( Integrow)

In FY 2021-22, the Company invested '' 999 Lakhs for a 49.13% equity stake in Integrow. Subsequently, in 2024¬
25, a loan and the accrued interest on the outstanding loan, totaling '' 1,474 Lakhs, provided by the Company
to Integrow, were converted into an equity investment.

(v) Helloworld Technologies India Private Limited ( HWTL)

In FY 2022-23, the Company acquired 100% of the equity shares of HWTL for a consideration of '' 3,811 Lakhs.
Subsequently, in FY 2023-24, loans and accrued interest on outstanding loans provided by the Company to
HWTL, totaling '' 1,733 Lakhs, were converted into equity investments.

Under its ESOP plan, the Company granted stock options to HWTL employees. The cost associated with these
options, amounting to '' 4 Lakhs for 2024-25 has been recorded by the Company as an Investment in HWTL.

(vi) Aurum Analytica Private Limited (Analytica)

In FY 2022-23, the Company acquired 100% of the equity shares of Analytica for a consideration of
'' 1,850 Lakhs. During the 2024-25, the Company made a further investment of '' 17 Lakhs in the equity shares
of Analytica.

Under its ESOP plan, the Company granted stock options to Analytica employees. The cost associated with
these options, amounting to '' 38 Lakhs for 2024-25 has been recorded by the Company as an Investment in
Analytica.

(vii) YieldWiseX Technologies Private Limited (YeildWiseX)

In FY 2023-24, the Company invested '' 963 Lakhs for a 100% equity stake in YieldWiseX.

(viii) Monk Tech Ventures Private Limited ( MTVL )

In FY 2023-24, the Company invested '' 5 Lakhs for a 51% equity stake in MTVL.

(ix) NestAway Technologies Private Limited (NTPL)

In FY 2023-24, the Company acquired 93.64% of the equity shares of NTPL for a consideration of '' 7,791
Lakhs. During 2024-25, the Company made a further investment of '' 892 Lakhs in the equity shares of NTPL,
increasing its holding to 98.72%.

Under its ESOP plan, the Company granted stock options to NTPL employees. The cost associated with these
options, amounting to '' 2 Lakhs for 2024-25 has been recorded by the Company as an Investment in NTPL.

(x) Imogentechno Delta Park Private Limited and Wisetechno Private Limited

These two entities were formed in FY 2023-24 with an investment of '' 1 lakh each as special purpose vehicles
for the Fractional Ownership business under YieldWiseX. With the onboarding of external investors during the
2024-25, the Board control of these entities has been transferred, and therefore they are no longer treated as
subsidiaries.

(b) Rights, preferences and restrictions attached to shares:

Equity Shares: The Company has only one class of equity shares having par value of '' 5/- per share. The holder
of the equity share is entitled to dividend right and voting right in the same proportion as the capital paid-up on
such equity share bears to the total paid-up equity share capital of the Company. The Company declares and
pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation,
the equity shareholders are eligible to receive the remaining assets of the Company in the same proportion as the
capital paid-up on the equity shares held by them bears to the total paid-up equity share capital of the Company.

(c) Issue of shares under Rights Issue:

The Company had issued 4,29,44,533 equity shares of face value of '' 5/- each on right basis ( ‘Rights Equity
Shares''). In accordance with the terms of issue, '' 20/- ( including a premium of '' 18.75/- per share ) i.e. 25% of the
Issue Price per Rights Equity Share, was received from the concerned allottees on application and shares were
allotted. The Company has made First call of '' 30/- per Rights Equity Share (including a premium of '' 28.13/- per
share) in March 2024. As on March 31, 2025, an aggregate amount of '' 764 Lakhs (including premium amount of
'' 716 Lakhs) is unpaid. The trading of 4,03,99,270 partly paid shares were effective from May 07, 2024.

The Company has made Second and Final call of '' 30/- per Rights Equity Share (including a premium of '' 28.12/- per
share) in March 2025 alongwith a reminder for the first call unpaid. The last date of payment of call money is April
30, 2025.

(B) Defined benefit plan - Gratuity

The Company sponsors funded defined benefit plans for qualifying employees. The defined benefit plans are
administered by Life Insurance Corporation of India (LIC) and every year the required contribution amount is paid
to LIC. Under the Gratuity plan, the eligible employees are entitled to post-retirement benefit at the rate of 15 days
salary for each year of service until the retirement age of 58 . The vesting period for Gratuity as payable under The
Payment of Gratuity Act is 5 years. The employee defined plan assets/ (liability) has been determined by actuary as
per the provisions of IND AS 19 “Employee benefits”.

x) The major categories of plan assets are as follows:

The plan asset for the funded gratuity plan is administered by Life Insurance Corporation of India (‘LIC'') as
per the investment pattern stipulated for Pension and Group Schemes fund by Insurance Regulatory and
Development Authority regulations i.e. 100% of plan assets are invested in insurer managed fund. Quoted price
of the same is not available in active market.

xi) Risk exposure

Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of which
are detailed below:

Investment risk

The present value of the defined benefit plan liability is calculated using a discount rate determined by
reference to market yields at the end of the reporting period on government bond; if the return on plan asset
is below this rate, it will create a plan deficit. Currently the plan has a relatively balanced investment in equity
securities and debt instruments.

Interest risk

A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an
increase in the return on the plan''s debt investments.

Longevity risk

The present value of the defined benefit plan liability is calculated by reference to the best estimate of the
mortality of plan participants both during and after their employment. An increase in the life expectancy of the
plan participants will increase the plan''s liability.

Salary risk

The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan
participants. As such, an increase in the salary of the plan participants will increase the plan''s liability.

Note 15.b. Share based payments
(a) Scheme details

The Company has Employee Stock Option scheme i.e. ESOP 2021, under which options have been granted on the
basis of performance and other eligibility criterias at the exercise price of '' 5/- to '' 80/- per share to be vested from
time to time.

Note 20. Earnings per share

Basic earnings per share amounts are calculated by dividing the (loss)/profit for the year attributable to equity holders
by the weighted average number of equity shares outstanding during the year.

Diluted earnings per share amounts are calculated by dividing the (loss)/profit attributable to equity holders after
adjusting by the weighted average number of equity shares outstanding during the year plus the weighted average
number of equity shares that would be issued on outstanding stock options.

The components of basic and diluted earnings per share for total operations are as follows:

Jote 24.c. Financial risk management objectives and policies

''he Company is exposed to various financial risks. These risks are categorized into market risk, credit risk and liquidity
isk. The Company''s risk management is coordinated by the Board of Directors and focuses on securing long term and
hort term cash flows. The Company does not engage in trading of financial assets for speculative purposes.

A) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market prices. Such changes in the values of financial instruments may result from changes in the
foreign currency exchange rates, interest rates and other market changes.

Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in foreign exchange rates. The Company''s exposure to the risk of changes in foreign exchange
rates relates primarily to the Company''s operating activities (when revenue or expense is denominated in a different
currency from the Company''s functional currency).

Foreign currency sensitivity

The Company is not exposed to Foreign currency sensitivity
Interest rate sensitivity

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion
of loans and borrowings. With all other variables held constant, the Company''s profit before tax is affected through
the impact on floating rate borrowings, as follows:

The fair value of current investments, cash and cash equivalents, trade receivables, bank balances other than cash and
cash equivalents, current loans, other financial assets, current borrowings, lease liabilities, trade payables and other
financial liabilities approximates their fair market value due to the relatively short period of time of original maturity
tenure of these instruments.

The fair values for security deposits, investment in debentures, lease liabilities and borrowings are calculated based on
cash flows discounted using a current lending rate, however the change in current rate does not have any significant
impact on fair values as at the current period end.

(B) Credit risk

Credit risk is the risk of financial loss arising from counterparty failure to repay or service debt according to
the contractual terms or obligations. Credit risk encompasses of both, the direct risk of default and the risk of
deterioration of creditworthiness as well as concentration of risks. Credit risk is controlled by analysing credit limits
and credit worthiness of customers on a continuous basis to whom the credit has been granted after obtaining
necessary approvals for credit.

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash
equivalents, time deposits and investment in mutual fund. The Company maintains its cash and cash equivalents,
time deposits and investment in mutual fund, with banks and mutual fund houses having good reputation, good
past track record, and who meet the minimum threshold requirements under the counterparty risk assessment
process, and reviews their credit-worthiness on a periodic basis.

(C) Liquidity risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity
risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements.
The Company consistently generated sufficient cash flows from operations to meet its financial obligations as and
when they fall due.

The Company''s current assets aggregate to '' 12,198 Lakhs (March 31, 2024 - '' 9,630 Lakhs) including current
investments, Loans, cash and cash equivalents and bank balances against aggregate current liability of '' 1,529
Lakhs (March 31, 2024 - '' 6,337 Lakhs) and non current liabilities '' 7,861 Lakhs (March 31, 2024 - '' 9,817 Lakhs)
including borrowings on the reporting date. While the Company''s total equity stands at '' 36,248 Lakhs (March
31, 2024 - '' 23,877 Lakhs). Hence liquidity risk or risk that the Company may not be able to settle or meet its
obligations as they become due does not exist.

Note 24.d. Capital management

For the purpose of the Company''s capital management, capital includes issued equity capital and all other equity
reserves attributable to the equity holders. The primary objective of the Company''s capital management is to maximize
the shareholder value and to ensure the Company''s ability to continue as a going concern.

The Company monitors gearing ratio i.e. total debt in proportion to its overall financing structure, i.e. equity and debt. The
Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and
the risk characteristics of the underlying assets.

Note 25. Corporate Social Responsibility expenditure

As per Section 135 of the Companies Act, 2013 (“the Act”), a company, meeting the applicability threshold, needs to
spend at least 2% of its average net profit for the immediately preceding three financial years on Corporate Social
Responsibility (CSR) activities. A CSR committee has been formed by the Company as per the Act. The funds were
primarily allocated to a corpus and utilized through the year on these activities which are specified in Schedule VII of
the Companies Act, 2013.

Note 27. Additional regulatory information
i) Details of Benami property Held

No proceedings have been initiated on or are pending against the Company for holding benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

(ii) Wilful defaulter

The Company has never been declared as wilful defaulter by any bank or financial institution or government or any
government authority

(iii) Relationship with struck off companies

The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act,
1956.

(iv) Registration of charges or satisfaction with registrar of companies

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.

(v) Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under the Companies Act, 2013

(vi) Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or
previous financial year

(vii) Utilization of borrowed funds and share premium:

The Company has not advanced orloaned orinvested funds to any other person(s) or entity(ies), including foreign
entities (Intermediaries) with the understanding that the Intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding
Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the funding party (ultimate beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

(viii) Undisclosed income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments
under the Income Tax Act, 1961, that has not been recorded in the books of account.

(ix) Details of crypto currency or virtual currency

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

(x) Title deed of immovable properties

The Company does not hold any immovable property whose lease deed is not in the name of Company

(xi) Valuation of property, plant and equipment and intangible asset

The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets
or both during the current or previous year.

(xii) The borrowings obtained by the Company from banks and financial institutions have been applied for the purposes
for which such loans were was taken.

(xiii) Registration of charges or satisfaction with Registrar of Companies

There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the
statutory period.

(xiii) Registration of charges or satisfaction with Registrar of Companies

There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the
statutory period.

Note 28. The Code on Social Security, 2020

The Code on Social Security, 2020 (‘code'') relating to employee benefits during employment and post employment
benefits received presidential assent in September 2020. The code has been published in the gazette of India. However,
the date on which the code will come into effect has not been notified and the final rules/interpretation have not yet
been issued. The Company will assess the impact of the code when it comes into effect and will record any related
impact in the period the code becomes effective.

Note 29. Events after the reporting period

No significant subsequent events have been observed which may require an adjustments to the financial statements.
Note 30.

There are no recent accounting pronouncements having significant impact on the financial statements of the Company.
Note 31.

Previous year figures have been regrouped / reclassified to confirm presentation as per Ind AS as required by Schedule
III of the act.

Note 32.

‘0'' denotes amount less than '' 0.5 Lakhs.

As per our report of even date For and on behalf of the Board of Directors of

For Kirtane & Pandit LLP Aurum PropTech Limited

Chartered Accountants CIN No: L72300MH2013PLC244874

ICAI Firm Registration No.: 105215W/W100057

Suhrud Lele Onkar Shetye Vasant Gujarathi

Partner Executive Director Non-Executive and Independent Director

Membership No.: 121162 DIN - 06372831 DIN - 06863505

Kunal Karan Sonia Jain

Chief Financial Officer Company Secretary

M. No. - A52138

Place: Navi Mumbai Place: Navi Mumbai

Date: April 25, 2025 Date: April 25, 2025

---

Mar 31, 2024

2.13 Provisions and contingent liabilities

A provision is recognized when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

If the effect of the time value of money is material, provisions are discounted using a current pretax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. Contingent assets are neither recognized nor disclosed in the standalone financial statements.

A contingent liability recognized in a business combination is initially measured at its fair value. Subsequently, it is measured at the higher of the amount that would be recognized in accordance with the requirements for provisions above or the amount initially recognized less, when appropriate, cumulative amortisation recognized in accordance with the requirements for revenue recognition.

2.14 Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amounts of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash equivalents consist of balances with banks which are unrestricted for withdrawal and usage.

2.15 Financial instruments

All financial instruments are recognized initially at fair value. Transaction costs that are attributable to the acquisition of the financial asset (other than financial assets recorded at fair value through profit or loss) are included in the fair value of the financial assets. Purchase or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trade) are recognized on trade date. While, loans and borrowings and payables are recognized net of directly attributable transaction costs.

For the purpose of subsequent measurement, financial instruments of the Company are classified

in the following categories: non derivative financial assets comprising amortized cost, debt instruments at fair value through other comprehensive income (FVTOCI), equity instruments at FVTOCI or fair value through profit and loss account (FVTPL) and non derivative financial liabilities at amortized cost or FVTPL.

The classification of financial instruments depends on the objective of the business model for which it is held. Management determines the classification of its financial instruments at initial recognition.

a) Non-derivative financial asset

(i) Financial assets at amortized cost A financial asset is measured at amortized cost if both of the following conditions are met:

(a) the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and

(b) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding

They are presented as current assets, except for those maturing later than 12 months after the reporting date which are presented as noncurrent assets. Financial assets are measured initially at fair value plus transaction costs and subsequently carried at amortized cost using the effective interest method, less any impairment loss.

Amortized cost are represented by trade receivables, security deposits, cash and cash equivalents, employee and other advances and eligible current and non-current assets.

(ii) Debt instruments at FVTOC

A debt instrument is measured at fair value through other comprehensive income if both of the following conditions are met:

(a) the objective of the business model is achieved by both collecting contractual

cash flows and selling financial assets and (b) the asset''s contractual cash flow represent SPPI”

Debt instruments included within FVTOCI category are measured initially as well as at each reporting period at fair value plus transaction costs. Fair value movements are recognized in other comprehensive income (OCI). However, the Company recognises interest income, impairment losses & reversals and foreign exchange gain/(loss) in statement of profit and loss. On derecognition of the asset, cumulative gain or loss previously recognized in OCI is reclassified from equity to profit and loss. Interest earned is recognized under the effective interest rate (EIR) model.

(iii) Equity instruments at FVTOCI

All equity instruments are measured at fair value. Equity instruments held for trading is classified as FVTPL. For all other equity instruments, the Company may make an irrevocable election to present subsequent changes in the fair value in OCI. The Company makes such election on an instrument-by-instrument basis. If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument, excluding dividend are recognized in OCI which is not subsequently recycled to statement of profit and loss.

(iv) Financial assets at FVTPL

FVTPL is a residual category for financial assets. Any financial asset which does not meet the criteria for categorization as at amortized cost or as FVTOCI, is classified as FVTPL. In addition the Company may elect to designate the financial asset, which otherwise meets amortized cost or FVTOCI criteria, as FVTPL if doing so eliminates or significantly reduces a measurement or recognition inconsistency. The Company has not designated any financial asset as FVTPL. Financial assets included within the FVTPL category are measured at fair values with all changes in the statement of profit and loss.

b) Non-derivative financial liabilities

(i) Financial liabilities at amortized cost

Financial liabilities at amortized cost represented by borrowings, trade and other payables are initially recognized at fair value, and subsequently carried at amortized cost using the effective interest rate method.

(ii) Financial liabilities at FVTPL

Financial liabilities at FVTPL represented by contingent consideration are measured at fair value with all changes recognized in the statement of profit and loss.

c) Investment in subsidiaries

I nvestment in subsidiaries are carried at cost plus additional fair value of ESOP granted to employees of subsidiaries net of impairment, if any.

2.16 Contributed equity

Equity shares are classified as equity share capital

Incremental costs directly attributable to the issue of new shares are shown in other equity under securities premium as a deduction, net of tax, from the proceeds.

2.17 Earnings per share

Basic earnings per share (EPS) are calculated by dividing the net profit / (loss) after tax for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by adjusting the number of shares used for basic EPS with the weighted average number of shares that could have been issued on the conversion of all dilutive potential equity shares. Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date. The diluted potential equity shares have been adjusted for the proceeds receivable had the shares been actually issued at fair value i.e. average market value of outstanding shares.

The number of shares and potentially dilutive shares are adjusted for share splits and bonus shares, as

appropriate. In calculating diluted earnings per share, the effects of anti dilutive potential equity shares are ignored. Potential equity shares are anti-dilutive when their conversion to equity shares would increase earnings per share or decrease loss per share.

3 Changes in accounting policies and disclosures

The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Amendment Rules, 2023 dated 31 March 2023 to amend the following Ind AS which are effective for annual periods beginning on or after 1 April 2023. The Company has applied these amendments for the first-time in these Standalone financial statements

a) Amendments to Ind AS 8 - definition of accounting estimates

The amendments clarify the distinction between changes in accounting estimates and changes in accounting policies and the correction of errors. It has also been clarified how entities use measurement techniques and inputs to develop accounting estimates. The amendments had no impact on these financial statements.

b) Amendments to Ind AS 1 - disclosure of accounting policies

The amendments aim to help entities provide accounting policy disclosures that are more useful

by replacing the requirement for entities to disclose their ‘significant'' accounting policies with a requirement to disclose their ‘material'' accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures

The amendments have had an impact on the disclosures of accounting policies, but not on the measurement, recognition or presentation of any items in the Standalone financial statements.

c) Amendments to Ind AS 12 - deferred tax related to assets and liabilities arising from a single transaction The amendments narrow the scope of the initial recognition exception under Ind AS 12, so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences such as leases.

The Company previously recognized for deferred tax on leases on a net basis. As a result of these amendments, the copmany has recognized a separate deferred tax asset in relation to its lease liabilities and a deferred tax liability in relation to its right-of-use assets. Since, these balances qualify for offset as per the requirements of paragraph 74 of Ind AS 12, there is no impact in the balance sheet. There was also no impact on the opening retained earnings as at 1 April 2022.

d) New standards and amendments issued but not effective.

39 EMPLOYEE STOCK OPTION SCHEME

(a) Nature and extent of employee stock option scheme that existed during the year:

Plan I

During the previous year, on approval by the Nomination and Remuneration Committee (“Committee”) and subsequently by the Board of the directors of the Company on October 30, 2021, the Company introduced the Employee Stock Option Plan “ Majesco Employee Stock Option Plan 2021” (ESOP 2021) for granting 77,00,000 stock options to the employees, each option representing one equity share of the Company. The exercise price is determined by the Committee and such price may be the face value of the share from time to time or may be the market price or any other price as may be decided by the Committee and will be governed by the Securities and Exchange Board of India (SEBI) (Share Based Employee Benefits) and accounted in accordance with Ind AS 102 “Share Based Payments”.

During the previous year, the Company has received Inprinciple approval from BSE Limited and National Stock Exchange of India Limited for listing of upto a maximum of 77,00,000 equity shares of '' 5/- each of Aurum PropTech Limited to be allotted pursuant to Aurum PropTech Employee Stock Option Plan 2021.

The Nomination and Remuneration Committee of the Board of the Company vide circular resolutions passed on December 13, 2022 has approved the grants 23,01,292 stock options to Directors and employees of Company and its subsidiaries under the “Aurum PropTech Employee Stock Option Plan 2021”. The first vesting of the stock option shall happen only on completion of one year from the date of grant and the option are excersiable within three years from the date of vesting. Options granted to the employees are carried over at a fair value. Fair value of these options as on the date of grant is determined using Black - Scholes valuation technique by an independent third-party valuer.

For the year ended March 31, 2024 and March 31, 2023 the fair value of the options both vested and unvested options granted to the employees of the Company was determined and the incremental amount of '' 483 Lakhs and '' 92 Lakhs respectively were charged to the “Employee benefits expenses” with a corresponding credit to “Employee stock options outstanding account”.

43 SEGMENT REPORTING

The Company operations predominantly relate to providing software solutions in the real estate sector. The organisational and reporting structure of the Company is based on Strategic Business Units (SBU) concept. The SBU''s are primarily cost center segments. SBU''s are the operating segments for which separate financial information is available and for which operating results are evaluated regularly by management in deciding how to allocate resources and in assessing performance. These SBU''s provide end-to-end information technology solutions to customers. The Chief Operating Decision Maker (CODM) reviews the operations of the group as one operating segment on the basis of SBUs.

The Company''s primary reportable segments consist of the following SBUs, which are based on the risks and returns in different areas of the operations: Software as a Service ( SAAS ), Real Estate as a Service ( RAAS) and Others. ‘SAAS'' operations comprise of activities where the Company derives revenue from customers for the use of the IT products it owns. ‘RAAS'' operations comprise of activities where the Company derives revenue from customers on use of real estate related services it provides. ‘Others'' include operations of the Group not forming part of reportable segments.

44 FAIR VALUES OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES

The Company''s financial instruments consist primarily of cash and cash equivalents, short term investments in time deposits and mutual funds, restricted cash, trade payable, and accrued liabilities. The carrying amount of cash and cash equivalents, short term investments in time deposits and mutual funds, restricted cash, trade payable and accrued liabilities as of the reporting date approximates their fair market value due to the relatively short period of time of original maturity tenure of these instruments. Classification of the financial assets and financial liabilities is given below:

45 FAIR VALUE HIERARCHY

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:

46 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Company is exposed to various financial risks. These risks are categorized into market risk, credit risk and liquidity risk. The Company''s risk management is coordinated by the Board of Directors and focuses on securing long term and short term cash flows. The Company does not engage in trading of financial assets for speculative purposes.

(A) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Such changes in the values of financial instruments may result from changes in the foreign currency exchange rates, interest rates and other market changes.

Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company''s exposure to the risk of changes in foreign exchange rates relates primarily to the Company''s operating activities (when revenue or expense is denominated in a different currency from the Company''s functional currency).

47 CAPITAL MANAGEMENT

For the purpose of the Company''s capital management, capital includes issued equity capital and all other equity reserves attributable to the equity holders. The primary objective of the Company''s capital management is to maximize the shareholder value and to ensure the Company''s ability to continue as a going concern.

The Company monitors gearing ratio i.e. total debt in proportion to its overall financing structure, i.e. equity and debt. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets.

(B) Credit risk

Credit risk is the risk of financial loss arising from counterparty failure to repay or service debt according to the contractual terms or obligations. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risks. Credit risk is controlled by analysing credit limits and credit worthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, time deposits and investment in mutual fund. The Company maintains its cash and cash equivalents, time deposits and investment in mutual fund, with banks and mutual fund houses having good reputation, good past track record, and who meet the minimum threshold requirements under the counterparty risk assessment process, and reviews their credit-worthiness on a periodic basis.

(C) Liquidity risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. The Company consistently generated sufficient cash flows from operations to meet its financial obligations as and when they fall due.

The Company''s current assets aggregate to '' 9,192 Lakhs (March 31, 2023 - '' 7,323 Lakhs) including current investments, Loans, cash and cash equivalents and bank balances against aggregate current liability of '' 6,337 Lakhs (March 31, 2023 - '' 1,635 Lakhs) and non current liabilities '' 9,817 Lakhs (March 31, 2023 - '' 1,214 Lakhs) including borrowings on the reporting date. While the Company''s total equity stands at '' 23,877 Lakhs (March 31, 2023 - '' 24,108 Lakhs). Hence liquidity risk or risk that the Company may not be able to settle or meet its obligations as they become due does not exist.

48 CORPORATE SOCIAL RESPONSIBILITY EXPENDITURE

As per Section 135 of the Companies Act, 2013 (“the Act”), a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on Corporate Social Responsibility (CSR) activities. A CSR committee has been formed by the Company as per the Act. The funds were primarily allocated to a corpus and utilized through the year on these activities which are specified in Schedule VII of the Companies Act, 2013.

50 The Board of Directors of the Company in its meeting held on March 23, 2022, approved the acquisition of 100% equity share capital of Helloworld Technologies India Private Limited (‘HWT''), for an aggregate cash consideration of up to '' 4,200 Lakhs and investment of '' 1,800 Lakhs towards subscription of further equity shares or convertible notes of HWT and, or, advancing loan and, or, line of credit to HWT. During the quarter ended June 30, 2022 the Company had completed the equity investment by paying '' 3,811 Lakhs on June 23, 2022 to Nestaway Technologies Private Limited, who were holding 100% shares of HWT. The Company has acquired control over HWT w.e.f. June 17, 2022 and as required under IND AS 110 HWT has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded intangible assets of '' 1,319 Lakhs and resultant goodwill of '' 4,387 Lakhs based on these valuation. The intangible assets have been amortized over a period of 5 years.

51 The Board of Directors of the Company in its meeting held on October 30, 2021, approved the acquisition of 49% of equity shares (on a fully diluted basis) of Integrow Asset Management Private Limited (‘Integrow''), for an aggregate cash consideration of about '' 1,000 Lakhs and subscription of Optionally Convertible Debentures for '' 1,500 Lakhs. The Company had completed equity investment by paying requisite amount on January 31, 2022 and had kept the right to exercise majority control in the Board of Integrow in abeyance until August 31, 2022. Basis the terms of the agreement with respect to the Company''s rights over control of the Board composition, this was accounted as an ‘Investment in Associate'', at cost until August 31, 2022.

Further during the previous year, on September 01, 2022, the Company has reinstated its right to exercise majority control in the board of Integrow, and accordingly based on Company''s rights over the control of Board composition it now exercises control over Integrow in accordance with IND AS 110. Intergrow has been accounted as a Subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded resultant goodwill of '' 606 Lakhs based on these valuation.

52 The Board of Directors of the Company in its meeting held on May 26, 2022, has approved the acquisition of 100% of equity shares of Blink Advisory Services Private Limited (‘Blink Advisory''), for an aggregate cash consideration of up to '' 2,350 Lakhs and investment of '' 2,100 Lakhs as per the requirements of the business.

Subsequently the purchase consideration was finalised at '' 1,850 Lakhs. On October 15, 2022, the Company has completed the equity investment and paid '' 1,850 Lakhs, out of which '' 1,700 Lakhs has been paid directly to the equity shareholders and balance '' 150 Lakhs to Blink Advisory to repay the identified liabilities of Blink Advisory.

The Company has acquired control over Blink Advisory w.e.f. October 15, 2022 and as required under IND AS 110, Blink Advisory has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded resultant goodwill of '' 1,566 Lakhs based on these valuation.

Post the investment the name of Blink Advisory has changed to Aurum Analytica Private Limited “’’AAPL’’’’ w.e.f. December 22, 2022 on approval of the same by the Ministry of Corporate Affairs.

53 The Board of Directors of the Company in its meeting held on April 27, 2023, considered the acquisition of NestAway Technologies Private Limited (‘Nestaway'') and delegated the power to the Executive Investment Committee to invest up to '' 9,000 Lakhs. The Executive Investment Committee of the Company in its meeting held on June 01, 2023, approved the acquisition of upto 100% equity share capital of Nestaway for a cash consideration of up to '' 9,000 Lakhs. The Share Purchase Agreement has been executed on June 28, 2023.

During the quarter ended September 30, 2023, the Company has acquired 93.64% of the equity shares of Nestaway by paying '' 7,791 lakhs. The Company has acquired control over Nestaway w.e.f. July 13, 2023 and as required under IND AS 110 Nestaway has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. The Company in its consolidated Financial Statement has recorded fair values and resultant goodwill and intangible assets as per Ind AS 103.

54 The Board of Directors of the Company in its meeting held on April 27, 2023, approved the acquisition of 100% equity share capital of Vartaman Consultants Private Limited (‘Vartaman''), for an aggregate cash consideration of '' 13 Lakhs and investment of '' 999 Lakhs towards subscription of further equity shares and, or, advancing loan and, or, line of credit to Vartaman. During the previous quarter ended June 30, 2023 the Company had completed the equity investment on April 29, 2023 by paying '' 13 Lakhs to the shareholders who were holding 100% of Vartaman. The Company has acquired control over Vartaman w.e.f. April 29, 2023 and as required under IND AS 110 Vartaman has been accounted as a subsidiary of the Company. The Company has further invested '' 950 Lakhs in Vartaman till March 31, 2024. Post the investment the name of Vartaman Consultants Private Limited has changed to YieldWisex Technologies Private Limited

55 The Company is in the process of developing new products whose feasibility has been established and enhancing and increasing functionality of existing technology / softwares with a clear objective of deriving future economic benefit from the same. In the process the Company during the year ended March 31, 2024, has capitalised '' 427 Lakhs mainly on account of cost incurred on its own product team and management team directly involved in the process of development.

56 During the quarter ended June 30, 2023, the Company has received incorporation approval for two subsidiaries viz.1) Monk Tech Venture Private Limited and Cuneate Services Private Limited with authorized capital of '' 10 Lakhs and '' 100 Lakhs respectively. The Company has invested '' 5 Lakhs and '' 1 Lakh respectively in the two subsidiaries till the end of March 31, 2024.

During the quarter ended September 30, 2023, the Company had received incorporation approval for a wholly owned subsidiary viz. Aurum PropTech Mena L.L.C, U.A.E with authorized capital of AED 3 Lakhs.

During the quarter ended March 31, 2024, the Company had received incorporation approval for a wholly owned subsidiary viz. Bonds Brain Technologies Private Limited with authorized capital of '' 1 lakhs

57 During the quarter ended March 31, 2024, the Company has incorporated two entities viz. 1) Imogentechno Delta Park Private Limited and 2) Wisetechno Private Limited which are wholly owned subsidiaries of the Company, with an objective operating as a Special Purpose Vehicle. The Securities and Exchange Board of India (“SEBI”), vide notification dated on 8 March 2024, introduced regulatory framework for facilitation of Small and Medium Real Estate Investment Trusts (“SM REITs”) by amending the SEBI (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”), through SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2024 (“Amended REIT Regulations”), thereby, paving the way to make real estate investment more accessible to wider set of investors and to regulate and foster growth in Fractional Ownership investment. The framework has given time period of total one year for the existing businesses under the model of fractional ownership to comply with the regulation. The management has obtained independent legal opinion on the business model of the two subsidiaries and is compliant since the same was commenced before notification of the regulation. Also, the management has initiated the process of migration to Amended REIT Regulations to comply with the said regulations.

Further, as on March 31, 2024 , the above-mentioned subsidiaries have been consolidated in the Consolidated Financial Statement of Aurum PropTech Limited as wholly owned subsidiaries since the Company controls both the subsidiaries

58 During the previous year ended March 31, 2022, the Company had received incorporation approval for two wholly owned subsidiaries viz. 1) Aurum Softwares and Solutions Private Limited and 2) Liv Real Solutions Private Limited (Formerly known as Aurum RealTech Services Private Limited) with authorized capital of '' 1000 Lakhs each. The Company has invested '' 600 Lakhs and '' 400 Lakhs respectively in the two wholly owns subsidiaries till the end of March 31, 2023.

59 Change in Objects Clause of Memorandum of Association:

The Board of Directors of the Company in its meeting held on July 23, 2021 has approved to include in the main objects clause of Memorandum of Association of the Company - the business of Information Technology enabled services, software and technology model related to property management platform, customer digital experience, enterprise digital transformation, to be a PropTech ecosystem by using tech enabled innovations like internet of things, artificial intelligence chatbots, machine learning, cloud support, blockchain, augmented and virtual reality, UI/UX design, data analytics, predictive analytics, robotic process automation, business intelligence, data science management, digital wallets, smart building technologies, fractional ownership, providing PropTech solutions and all other related activities to PropTech, in order to create an integrated digital ecosystem focused on complete value chain of real estate.

incorporation from Ministry of Corporate Affairs on October 01, 2021. Subsequently, the stock exchanges BSE and NSE where the shares of the Company are listed has also changed the name w.e.f. October 22,2021.

In BSE, the new scrip code is 539289 for fully paid up shares and 890168 for partly paid up shares, Scrip ID is AURUM and AURUMPP respectively, and new name is Aurum PropTech Limited.

In NSE, the symbol is AURUM for fully paid up shares and AURUMPP1 for partly paid up shares, and new name is Aurum PropTech Limited

62 DETAILS OF BENAMI PROPERTY HELD

The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

63 WILFUL DEFAULTER

The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

64 RELATIONSHIP WITH STRUCK OFF COMPANIES UNDER SECTION 248 OF THE COMPANIES ACT, 2013 OR SECTION 560 OF COMPANIES ACT, 1956,

The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

65 REGISTRATION OF CHARGES OR SATISFACTION WITH REGISTRAR OF COMPANIES

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

66 COMPLIANCE WITH NUMBER OF LAYERS OF COMPANIES

The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

67 COMPLIANCE WITH APPROVED SCHEME(S) OF ARRANGEMENTS

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

68 UTILISATION OF BORROWED FUNDS AND SHARE PREMIUM:

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (intermediaries) with the understanding that the intermediary shall:

(a) 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

b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

The Company has not received any fund from any person(s) or entity(ies), including foreign entities (funding party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

69 UNDISCLOSED INCOME

The Company does not have any transactions not recorded in the books of accounts that has been surrendered or disclosed as income during the year in tax assessments under the Income-tax Act, 1961.

70 DETAILS OF CRYPTO CURRENCY OR VIRTUAL CURRENCY

The Company has not traded or invested in Crypto currency or Virtual Currency during the current or previous year.

71 EVENTS AFTER THE REPORTING PERIOD

The Rights Issue Committee of the Company in its meeting held on March 05, 2024, has approved the first call of '' 30/- per share on the partly paid-up equity shares issued on Rights basis and the call period commenced from April 01, 2024 till April 15, 2024, pursuant to which a total of '' 121,19,78,100 has been received on valid applications of the partly paid-up shares

72 The Company does not hold any immovable property whose lease deed is not in the name of Company

73 The Company has not revalued any of its property, plant and equipment or intangible assets.

74 The Company does not have any borrowings on the basis of security of current assets.

75 THE CODE ON SOCIAL SECURITY, 2020

The Code on Social Security, 2020 (‘Code'') relating to employee benefits during employment and post employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Group will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.

76 Previous year figures have been regrouped/ reclassified to confirm presentation as per Ind AS as required by Schedule III of the Act.

77 0“ denotes amount less than '' 0.5 Lakhs.

As per our report of even date For and on behalf of the Board of Directors

Aurum PropTech Limited

CIN No: L72300MH2013PLC244874

For M S K A & Associates Onkar Shetye Vasant Gujarathi

Chartered Accountants Executive Director Non-Executive and Independent Director

ICAI Firm Registration No.: 105047W DIN - 06372831 DIN: 06863505

Udit Brijesh Parikh Kunal Karan Sonia Jain

Partner Chief Financial Officer Company Secretary

Membership No.: 151016 M No - A52138

Place: Mumbai Place: Navi Mumbai

Date: April 29, 2024 Date: April 29, 2024

---

Mar 31, 2023

(a) Rights, preferences and restrictions attached to shares:

Equity Shares: The Company has only one class of equity shares having par value of '' 5/- per share. Each shareholder is entitled to one vote per share held and carry a right to dividend. Dividend if any declared, is payable in Indian Rupees.

The Board of Directors of the Company approved the Rights Issue (the Issue) of 4,29,44,533 equity shares of the Company for an issue size of approximately '' 34,356 Lakhs at a price of '' 80/- per fully paid equity shares (including a premium of '' 75/- per equity share) at a ratio of 3 equity shares for every 2 equity shares held, at its meeting held

on December 17, 2021. The terms of payment of Issue price were 25% on application and balance in one or more calls as may be decided by the Board / Committee of the Board from time to time. On April 08, 2022, the Rights Issue committee “the Committee” approved Letter of Offer to be filed with Securities Exchange Board of India (SEBI) and finalised April 14, 2022 as the record date for the purpose of determining the equity shareholders who are eligible to apply for the equity shares in the Issue. After receiving approval from SEBI, the Issue was open during April 26, 2022 to May 10, 2022. The number of shares applied under the Issue was 4,56,34,534 partly paid equity shares which was 106.26 % of the Issue size. The shareholders have been allotted 4,29,44,533 partly paid equity shares at a price of '' 20/- (including a premium of '' 18.75/- per equity share) each on May 17, 2022 on proportionate basis. The Company received BSE and NSE listing approval on May 18, 2022 and May 19, 2022 respectively. The Company has made an application for trading approval from BSE and NSE.

Out of the total allotment of 4,29,44,533 partly paid equity shares, Aurum Realestate Developers Private Limited (formerly known as Aurum Platz IT Private Limited) was allotted 2,60,00,000 partly paid equity shares, totaling to 3,60,32,859 partly paid equity shares representing 50.34% of the voting share capital of the Company.

(e) No class of shares have been issued as bonus shares or for consideration other than cash by the Company since its incorporation.

(f) Shares reserved for issue under options as at March 31, 2023 and March 31,2022, were 26,40,000 and 13,60,000 (Refer note 38)

(g) During the year ended March 2021, the Board of Directors of the Company at its meeting held on October 8, 2020, approved a proposal to buyback of upto 74,70,540 fully paid up equity shares of face value of '' 5 per share of the Company for an aggregate amount not exceeding '' 63,126 Lakhs being 24.78% of the total paid up equity share capital at '' 845 per equity share, which was approved by the shareholders on November 2, 2020 by means of a special resolution in extra ordinary General Meeting. A Letter of offer was made to all eligible shareholders. The Company bought back 15,74,088 equity shares out of the shares that were tendered by eligible shareholders, paid '' 13,301 Lakhs to the shareholders and extinguished the equity shares on December 23, 2020.

(h) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company in proportion to the number of equity shares held by them.

20.01Non - current Financial Liabilities

(a) Term loan from Bank of Baroda was taken during the financial year 2022-23 and carries interest @ 9.10% p.a. The loan is repayable in 180 instalments of '' 3,00,000/- each along with interest, from the date of loan.

(b) The Company has obtained term loan from Bank of Baroda during the financial year 2022-23. As per the Loan Agreement, the said Loan was taken for the Purpose of General Corporate purpose. The Company has used such borrowings for the purposes as stated in the loan agreement. The Company has not defaulted on any loans payable.

*Based on the information available with the Company, there are no outstanding dues and payments made to any supplier of goods and services beyond the specified period under Micro, Small and Medium Enterprises Development Act, 2006 [MSMED Act]. There is no interest payable or paid to any suppliers under the said Act.

36 EARNINGS PER SHARE

Basic earnings per share amounts are calculated by dividing the (loss)/profit for the year attributable to equity holders by the weighted average number of equity shares outstanding during the year.

Diluted earnings per share amounts are calculated by dividing the (loss)/profit attributable to equity holders after adjusting by the weighted average number of equity shares outstanding during the year plus the weighted average number of equity shares that would be issued on outstanding stock options.

During the year ended March 31, 2023, Company has recognised deferred tax asset of '' 275 Lakhs mainly relating to unused tax losses that are considered to be able to offset against the Company''s taxable profits expected to arise in the subsequent years. Management has based the assessment on the basis of business plan of improved business performance largely due to organisation restructuring and hiring of skilled resources to take business to the next level.

(B) Defined benefit plans - Gratuity

Liability for employee defined benefits plan has been determined by an Actuary, appointed for the purpose, in conformity with the principles set out in the Ind AS -19, “Employee Benefits”, the details of which are as under. The liability is fully funded through and approved trust with Life Insurance Corporation of India.

38 EMPLOYEE STOCK OPTION SCHEME

(a) Nature and extent of employee stock option scheme that existed during the year:

During the previous year, on approval by the Nomination and Remuneration Committee (“Committee”) and subsequently by the Board of the directors of the Company on October 30, 2021, the Company introduced the Employee Stock Option Plan “ Majesco Employee Stock Option Plan 2021” (ESOP 2021) for granting 77,00,000 stock options to the employees, each option representing one equity share of the Company. The exercise price is determined by the Committee and such price may be the face value of the share from time to time or may be the market price or any other price as may be decided by the Committee and will be governed by the securities and Exchange Board of India (SEBI) (Share Based Employee Benefits) and accounted in accordance with Ind AS 102 “Share Based Payments”.

During the year, the Company has received Inprinciple approval from BSE Limited and National Stock Exchange of India Limited for listing of upto a maximum of 77,00,000 equity shares of '' 5/- each of Aurum propTech Limited to be allotted pursuant to Aurum PropTech Employee Stock Option Plan 2021.

the Nomination and Remuneration Committee of the Board of the Company vide circular resolutions passed on December 13, 2022 has approved the grants of 23,01,292 stock options to Directors and employees of Company and its subsidiaries under the “Aurum PropTech Employee Stock Option Plan 2021”. The first vesting of the stock option shall happen only on completion of one year from the date of grant and the option are excersiable within three years from the date of vesting. During the year, the Company granted total 22,94,292 Lakh options under ‘Aurum PropTech Employee Stock Option Plan 2021'' to its eligible employees, out of which 12.80 Lakh options were in lieu of options

earlier granted. Fair value of these options as on the date of grant is determined using Black - Scholes valuation technique by an independent third-party valuer.options have been granted to the employees and carried over at a fair value.

For the year ended March 31, 2023 and March 31, 2022 the fair value of the options both vested and unvested options granted to the employees of the Company was determined and the incremental amount of '' 92 Lakhs and '' 86 Lakhs respectively were charged to the “Employee benefits expenses” with a corresponding credit to “Employee stock options outstanding account”.

For the year ended March 31, 2023 and March 31, 2022 similar amount relating to employees of its subsidiaries amounting to '' 169 Lakhs and '' Nil Lakhs respectively was debited to the “Investment in subsidiary” account with the corresponding credit to “Employee stock options outstanding account”.

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:

(E) Terms and conditions of transactions with related parties

The transactions with related parties are made on terms equivalent to those that prevail in arm''s length transactions. Outstanding balances at the year-end are unsecured and interest free excepts loans. There have been no guarantees provided or received for any related party receivables or payables. For the year ended March 31, 2023, the Company has not recorded any impairment of receivables relating to amounts owed by related parties. this assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

43 FAIR VALUES OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES

The Company''s financial instruments consist primarily of cash and cash equivalents, short term investments in time deposits and mutual funds, restricted cash, trade receivables, Inter company Loans, Lease liabilities, trade payable, and accrued liabilities. The carrying amount of cash and cash equivalents, short term investments in time deposits and mutual funds, restricted cash, trade payable and accrued liabilities as of the reporting date approximates their fair market value due to the relatively short period of time of original maturity tenure of these instruments. Classification of the financial assets and financial liabilities is given below:

42 SEGMENT REPORTING

The Company operations predominantly relate to providing software solutions in the real estate sector. The organisational and reporting structure of the Company is based on strategic Business units (sBu) concept. the SBU''s are primarily cost center segments. SBU''s are the operating segments for which separate financial information is available and for which operating results are evaluated regularly by management in deciding how to allocate resources and in assessing performance. these sBu''s provide end-to-end information technology solutions to customers. the Chief operating Decision Maker (CoDM) reviews the operations of the group as one operating segment on the basis of sBus.

The Company''s primary reportable segments consist of the following SBUs, which are based on the risks and returns in different areas of the operations: Software as a Service ( SAAS ), Real Estate as a Service ( RAAS) and Others. sAAs operations comprise of activities where the Company derives revenue from customers for the use of the It products it owns. RAAs operations comprise of activities where the Company derives revenue from customers on use of real estate related services it provides.

The following table sets forth revenues and results by areas of operations based on the cost center under which billing to customer has been made during year:

44 FAIR VALuE HIERARCHY

The following is the hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

• Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

• Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

• Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

No financial assets/liabilities have been valued using level 3 fair value measurements.

45 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Company is exposed to various financial risks. These risks are categorized into market risk, credit risk and liquidity risk. The Company''s risk management is coordinated by the Board of Directors and focuses on securing long term and short term cash flows. The Company does not engage in trading of financial assets for speculative purposes.

(A) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Such changes in the values of financial instruments may result from changes in the foreign currency exchange rates, interest rates and other market changes.

Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term debt obligations with floating interest rates.

(B) Credit risk

Credit risk is the risk of financial loss arising from counterparty failure to repay or service debt according to the contractual terms or obligations. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risks. Credit risk is controlled by analysing credit limits and credit worthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, time deposits and investment in mutual fund. The Company maintains its cash and cash equivalents, time deposits and investment in mutual fund, with banks and mutual fund houses having good reputation, good past track record, and who meet the minimum threshold requirements under the counterparty risk assessment process, and reviews their credit-worthiness on a periodic basis.

(C) Liquidity risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. The Company consistently generated sufficient cash flows from operations to meet its financial obligations as and when they fall due.

the Company''s current assets aggregate to '' 7,323 Lakhs (March 31, 2022 - '' 9,237 Lakhs) including current investments, cash and cash equivalents and bank balances against aggregate current liability of '' 1,635 Lakhs (March 31, 2022 - '' 1,512 Lakhs) and non current liabilities '' 1,214 Lakhs (March 31, 2022 - '' 462 Lakhs) including borrowings on the reporting date. While the Company''s total equity stands at '' 24,108 Lakhs (March 31, 2022 -'' 16,768 Lakhs). Hence liquidity risk or risk that the Company may not be able to settle or meet its obligations as they become due does not exist.

46 CAPITAL MANAGEMENT

For the purpose of the Company''s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders. The primary objective of the Company''s capital management is to maximize the shareholder value and to ensure the Company''s ability to continue as a going concern.

The Company monitors gearing ratio i.e. total debt in proportion to its overall financing structure, i.e. equity and debt. total debt comprises of non-current borrowing which represents bank loan. the Company do not have any debt for the year ended March 31, 2022. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets.

49 The Board of Directors of the Company in its meeting held on July 23, 2021 approved the acquisition of 51% equity share capital (on a fully diluted basis), of K2V2 Technologies Private Limited (‘K2V2''), for an aggregate cash consideration of '' 4,000 Lakhs.

the Company has paid '' 1,800 Lakhs on August 25, 2021 to acquire 20,735 shares (44.44% of equity share capital) @ '' 8,681 per share. In case of the further investment of '' 2,200 Lakhs to attain 51% of equity share capital, the Company has an option to invest this anytime from the closing date or on the achievement of a defined target by March 31, 2023, as prescribed in the terms of the share subscription and shareholders agreement with K2V2. The Company has accounted for this as an ‘Investment in Associate'', at cost till September 30, 2021.

47 CORPORATE SOCIAL RESPONSIBILITY EXPENDITURE

As per Section 135 of the Companies Act, 2013 (“the Act”), a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on Corporate Social Responsibility (CSR) activities. A CSR committee has been formed by the Company as per the Act. The funds were primarily allocated to a corpus and utilized through the year on these activities which are specified in Schedule VII of the Companies Act, 2013.

Further during the period ended December 31, 2021, the Company amended its Share Purchase Agreement with K2V2, w.e.f. October 1, 2021 and on account of the revised rights, now exercises control over K2V2 in accordance with IND AS 110. Accordingly, w.e.f. October 1, 2021, K2V2 has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair value based on the purchase price allocation conducted by an independent valuer.

50 The Board of Directors of the Company in its meeting held on December 17, 2021 approved the acquisition of 51% equity share capital (on a fully diluted basis), of Monk Tech Labs Pte. Limited, Singapore (‘THM''), for an aggregate cash consideration of USD 2,000,000 (approximately '' 1,500 Lakhs) and subscription of Optionally Convertible Debentures for USD 3,000,000 (approximately '' 2,250 Lakhs). The Company invested on March 17, 2022 in THM after receiving approval from AD banker/RBI. The Company exercises control over THM in accordance with IND AS 110 and has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair value based on the purchase price allocation conducted by an independent valuer.

51 The Board of Directors of the Company in its meeting held on March 23, 2022, approved the acquisition of 100% equity share capital of Helloworld Technologies India Private Limited (‘HWT''), for an aggregate cash consideration of up to '' 4,200 Lakhs and investment of '' 1,800 Lakhs towards subscription of further equity shares or convertible notes of HWT and, or, advancing loan and, or, line of credit to HWT. During the quarter ended June 30, 2022 the Company had completed the equity investment by paying '' 3,811 Lakhs on June 23, 2022 to Nestaway Technologies Private Limited, who were holding 100% shares of HWT. The Company has acquired control over HWT w.e.f. June 17, 2022 and as required under IND AS 110 HWT has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded intangible assets of '' 1,319 Lakhs and resultant goodwill of '' 4,387 Lakhs based on these valuation and will record any necessary adjustments during this measurement period. the intangible assets have been amortised over a period of 5 years.

52 The Board of Directors of the Company in its meeting held on October 30, 2021, approved the acquisition of 49% of equity shares (on a fully diluted basis) of Integrow Asset Management Private Limited (‘Integrow''), for an aggregate cash consideration of about '' 1,000 Lakhs and subscription of Optionally Convertible Debentures for '' 1,500 Lakhs. The Company had completed equity investment by paying requisite amount on January 31, 2022 and had kept the right to exercise majority control in the Board of Integrow in abeyance until August 31, 2022. Basis the terms of the agreement with respect to the Company''s rights over control of the Board composition, this was accounted as an ‘Investment in Associate'', at cost until August 31, 2022.

Further during the year, on September 1, 2022, the Company has reinstated its right to exercise majority control in the board of Integrow, and accordingly based on Company''s rights over the control of Board composition it now exercises control over Integrow in accordance with IND AS 110. Intergrow has been accounted as a Subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded resultant goodwill of '' 606 Lakhs based on these valuation and will record any necessary adjustments during this measurement period.

The Company has further subscribed to the Optionally Convertible Debentures (OCD) of '' 250 Lakhs issued by Integrow.

53 The Board of Directors of the Company in its meeting held on May 26, 2022, has approved the acquisition of 100% of equity shares of Blink Advisory Services Private Limited (‘Blink Advisory''), for an aggregate cash consideration of up to '' 2,350 Lakhs and investment of '' 2,100 Lakhs as per the requirements of the business.

Subsequently the purchase consideration was finalised at '' 1,850 Lakhs. On October 15, 2022, the Company has completed the equity investment and paid '' 1,850 Lakhs, out of which '' 1,700 Lakhs has been paid directly to the equity shareholders and balance '' 150 Lakhs to Blink Advisory to repay the identified liabilities of Blink Advisory.

The Company has acquired control over Blink Advisory w.e.f. October 15, 2022 and as required under IND AS 110, Blink Advisory has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at provisional fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded resultant goodwill of '' 1,566 Lakhs based on these valuation and will record any necessary adjustments during this measurement period. the Company has further provided an intercompany loan of '' 150 Lakhs to Blink Advisory.

post the investment the name of Blink Advisory has changed to Aurum Analytica private Limited “AApL” w.e.f. December 22, 2022 on approval of the same by the Ministry of Corporate Affairs.

54 During the previous year ended March 31, 2022, the Company had received incorporation approval for two wholly owned subsidiaries viz. 1) Aurum Softwares and Solutions Private Limited and 2) Aurum RealTech Services Private Limited with authorized capital of '' 1000 Lakhs each. The Company has invested '' 600 Lakhs and '' 400 Lakhs respectively in the two wholly owns subsidiaries till the end of March 31, 2023.

55 CHANGE IN OBJECTS CLAUSE OF MEMORANDUM OF ASSOCIATION:

The Board of Directors of the Company in its meeting held on July 23, 2021 has approved to include in the main objects clause of Memorandum of Association of the Company - the business of Information technology enabled services, software and technology model related to property management platform, customer digital experience, enterprise digital transformation, to be a proptech ecosystem by using tech enabled innovations like internet of things, artificial intelligence chatbots, machine learning, cloud support, blockchain, augmented and virtual reality, UI/UX design, data analytics, predictive analytics, robotic process automation, business intelligence, data science management, digital wallets, smart building technologies, fractional ownership, providing proptech solutions and all other related activities to proptech, in order to create an integrated digital ecosystem focused on complete value chain of real estate.

57 DETAILS OF BENAMI PROPERTY HELD

The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

58 WILFUL DEFAULTER

The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

59 Relationship WITH STRuCK OFF COMPARES uNDER Section 248 OF THE COMPARES ACT, 2013 OR Section 560 OF COMPANIES ACT, 1956,

The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

60 REGISTRATION OF CHARGES OR SATISFACTION WITH REGISTRAR OF COMPANIES

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

61 COMPLIANCE WITH NuMBER OF Layers OF COMPANIES

The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

62 COMPLIANCE WITH Approved SCHEME(S) OF ARRANGEMENTS

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

63 uTILISATION OF BORROWED FuNDS AND SHARE PREMiuM:

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 entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).

the Company has not received any fund from any party(s) (Funding party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

64 uNDISCLOSED INCOME

the Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered or disclosed as income during the year (and previous year) in the tax assessments under the Income tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

65 DETAILS OF CRYPTO CuRRENCY OR VIRTuAL CuRRENCY

The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

66 EVENTS AFTER THE REPORTING PERIOD

In April 2023, the Company has received incorporation approval for two subsidiaries viz.1) Monk Tech Venture Private Limited and 2) Cuneate Services Private Limited with authorized capital of '' 10 Lakhs and '' 100 Lakhs respectively.

67 THE FOLLOWING SCHEDuLE III AMENDMENTS IS NOT APPLICABLE ON THE COMPANY:

(i) the Company does not hold any immovable property whose lease deed is not in the name of Company;

(ii) The Company has not revalued any of its property, plant and equipment or intangible assets.

(iii) the Company does not have any borrowings on the basis of security of current assets.

68 Previous year figures have been regrouped/ reclassified to confirm presentation as per Ind AS as required by schedule III of the Act.

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Mar 31, 2018

1 Fair values of financial assets and financial liabilities

The Group''s financial instruments consist primarily of cash and cash equivalents, short term investments in time deposits, restricted cash, accounts receivables, unbilled accounts receivable, accounts payable, and accrued liabilities. The carrying amount of cash and cash equivalents, short term investments in time deposits, restricted cash, accounts receivables, unbilled accounts receivable, accounts payable and accrued liabilities as of the reporting date approximates their fair market value due to the relatively short period of time of original maturity tenure of these instruments.

2 Fairvaluehierarchy

The following is the hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

- Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

- Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

- Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

No financial assets/liabilities have been valued using level 3 fair value measurements.

The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:

3 Financial risk management objectives and policies

The Company is exposed to various financial risks. These risks are categorized into market risk, credit risk and liquidity risk. The Company''s risk management is coordinated by the Board of Directors and focuses on securing long term and short term cash flows. The Company does not engage in trading of financial assets for speculative purposes.

(A) Market risk

Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. We are exposed to market risk primarily due to fluctuations in interest rates as described more fully below. We do not hold or issue derivative financial instruments for trading or speculative purposes.

Interest rate risk :

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s investments.

Interest rate sensitivity :

Our exposure to market risk for changes in interest rates relates primarily to our cash and cash equivalents, other bank balances and investments. We do not use derivative financial instruments to hedge interest rate exposure. Our cash and cash equivalents, other bank balances and investments as of 31 March 2018, 31 March 2017 and 1 April 2016 were 33,894, 9,253 and 8,482 respectively. We invest primarily in highly liquid, money market funds and bank fixed deposits. Because of the short-term nature of the majority of the interest-bearing securities we hold, we believe that a 10% fluctuation in the interest rates applicable to our cash and cash equivalents and investments would not have a material effect on our financial condition or results of operations.

(B) Credit risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, time deposits, and accounts receivables. The Company maintains its cash and cash equivalents, time deposits, with banks having good reputation, good past track record, and who meet the minimum threshold requirements under the counterparty risk assessment process, and reviews their credit-worthiness on a periodic basis. Accounts receivables of the Company are typically unsecured. As there is no independent credit rating of the customer available with the Company, Management reviews the creditworthiness of customers based on their financial position, past experience and other factors. The Company perform ongoing credit evaluations of their customers'' financial condition and monitor the creditworthiness of their customers to which they grant credit terms in the normal course of business.

(C) Liquidity risk

The Company''s current assets aggregate to 35,090 (31 March 2017 -10,945,1 April 2016 -10,239) including current investments, cash and cash equivalents and bank balances against aggregate current liability 994 (31 March 2017 - 1,043, 1 April 2016 - 633) non current liabilities amounting to 439 (31 March 2017 - 515, 1 April 2016 - 438) on the reporting date. While the Company''s total equity stands at 51,990 (31 March 2017 - 27,323, 1 April 2016 - 25,999), it has no borrowings. Hence liquidity risk or risk that the Company may not be able to settle or meet its obligations as they become due does not exist.

4 Capital management

For the purpose of the Company''s capital management, capital includes issued equity capital, convertible preference shares, share premium and all other equity reserves attributable to the equity holders. The primary objective of the Company''s capital management is to maximize the shareholder value and to ensure the Company''s ability to continue as a going concern.

The Board of Directors of the Company in the meeting held on 3 August 2017 approved the payment of Special Dividend @ '' 1/- per share (face value '' 5/- per share), to eligible shareholders. Accordingly the Company has appropriated 235 on account of Special Dividend and 48 being tax thereon, during the financial year. As on 31 March 2018, 3 is still to be paid. The Company monitors gearing ratio i.e. total debt in proportion to its overall financing structure, i.e. equity and debt. Total debt comprises of non-current borrowings. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets.

No changes were made in the objectives, policies or processes for managing capital during the years ended 31 March 2018, 31 March 2017. In case of capital raised during the year also (Refer note no 20 (b)).

5 Demerger from Mastek Limited and slump sale to Majesco Software and Solutions India Private Limited

(a) Pursuant to a Scheme of Arrangement (the "scheme") under section 391 to 394 read with Section 100 to 103 and other applicable provision of the Companies Act, 1956 and other applicable provision of the Companies Act, 2013, the Board of Directors of Mastek Limited ("Mastek"), at its meeting held on 15 September 2014, had approved the demerger of the Insurance Products and Services business of Mastek, into the Company (formerly known as Minefields Computers Limited), followed by transfer by the Company of the offshore insurance operations business in India to Majesco Software and Solutions India Private Limited ("MSSIPL") a wholly owned subsidiary of Majesco Software and Solutions Inc., USA ("MSSUS") a step down subsidiary of the Company, retaining the domestic operations with the Company.

The appointed date of the scheme was 1 April 2014 and the appointed date for transfer of the offshore insurance operation business transfer was 1 November 2014. Mastek obtained necessary approvals for the scheme under clause 24(f) of the Listing Agreement with the BSE and NSE from SEBI on 9 December 2014. The scheme has also been approved by the Hon''ble High Court of Bombay and Hon''ble High Court of Gujarat and on filing with the Registrar of Companies ("ROC") the said scheme became effective from 1 June 2015. As specified in the scheme, Mastek shareholders have been issued one equity share in the Company for every share held in Mastek, while retaining their existing Mastek share. Existing 50,000 equity shares of '' 10/- each of the Company (Formerly known as Minefields Computers Limited) were cancelled on 1 June 2015.

The shares of the Company were listed on 19 August 2015 on the BSE and NSE, where Mastek is listed. The demerger has resulted in the transfer of the assets, liabilities, other reserves and surplus, employee stock options outstanding account and hedging reserve account related to the demerged entity from Mastek and accordingly have been given effect to in the financial statements of the Company prepared under previous IGAAP during the year 2015 -16.

The difference in book value of the above assets net of liabilities and specific reserves and net of transfer to MSSIPL as on 31 March 2015 aggregating to 20,344 have been credited to Retained earnings for the year ended 31 March 2016.

(b) Consequent to transfer of the offshore insurance business in India to MSSIPL, the business with reference to which the Capital Reserve was created stand transferred and is no longer with the company. Hence the capital reserve of 106 has been transferred to General Reserve during the year ended 31 March 2016.

(c) The deferred tax assets arising from difference between the book value of depreciable fixed assets and of their written down value for tax purpose and timing difference of certain expenses relating to the period prior to 1 April 2015 aggregating to 284 has been credited to General Reserve during the year ended 31 March 2016.

(d) Consequent to adoption of Ind AS with effect from 1 April 2016 these have been converted accordingly and transition effect has been given in note no 5.

(C) Corporate Social Responsibility Expenditure

As per section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. A CSR committee has been formed by the Company as per the Act. The funds were primarily allocated to a corpus and utilized through the year on these activities which are specified in Schedule VII of the Companies Act, 2013

a) The gross amount required to be spent by the Company during the year is 5 (2017-NA).

b) The details of the amount spent during the year on CSR activities are as follows :

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Mar 31, 2017

1. Considering the fact that substantial portion of the building has been let out for longer period of time, the portion of the building let out has been reclassified as investment property.

2. Mahape building which has been transferred pursuant to the scheme of arrangement, is pending to be registered in the name of Majesco Limited as at March 31, 2017. Additions during the year represents stamp duty paid.

3. Considering the fact that substantial portion of the building has been let out for longer period of time, the portion of the building let out has been reclassified as investment property.

4. Mahape building which has been transferred pursuant to the scheme of arrangement, is pending to be registered in the name of Majesco Limited as at March 31, 2016.

Total

(a) Rs. 7,340 with HSBC bank (Previous year-? 5,000) under lien for stand by documentary credit (SBDC) of US$ 10 million (previous year US$ 6.8 million) given by HSBC Bank, for the term loan availed by Majesco, USA, subsidiary of the Company.

(b) Rs. 500 with Yes bank (Previous year Rs. 2,400) for PCFC facility availed by Majesco Software and Solutions India Private Limited, step down subsidiary ofthe Company.

(c) Fixed deposit of Rs. 2.20 is held as security for bank guarantee of Rs. 2.20 given to Maharashtra Pollution Control Board (Previous year'' 22.00 was held as security for bank guarantee of which Rs. 20.00 given to Life Insurance Corporation of India in lieu of earnest money deposit.)

5. Employee Stock Option Scheme

(a) Nature and extent of employee share-based payment plans that existed during the year: Plan I

The company introduced the employee stock option scheme as a part of the scheme of arrangement, approved by the Hon''ble High Court of Gujarat and Hon''ble High Court of Bombay. The shareholders of Mastek Limited approved the Scheme of Arrangement in the Court Convened meeting held on March 05, 2015, and the shareholders of Majesco Limited approved the scheme of arrangement through consent letter.

The Company introduced the scheme for granting up to 8,000,000 stock options to the employees, each option representing one equity share of the Company. The exercise price is to be determined by the Nomination and Remuneration Committee ("Committee") and such price may be the face value of the share from time to time or may be the market price or any other price as may be decided by the Committee and will be governed by the Securities and Exchange Board of India (SEBI) (Share based employee benefits) Regulations, 2014 and accounted in accordance with the guidance note on Employees Share Based Payments issued by the Institute of Chartered Accountants of India using the intrinsic value. The first vesting of the stock options shall happen only on completion of one year from the date of grant and the options are exercisable within seven years from the date of vesting. As per the SEBI guidelines, the excess of market price of the underlying equity shares as of the date of the grant of the options over the exercise price of the option is to be recognized and amortized on a straight line basis over the vesting period. Consequently, the amortized compensation cost for the exercisable option is Rs. 8.91 (net of reimbursement received from subsidiaries / Mastek) and have been charged to the Profit and Loss Statement during the year.

6. Demerger from Mastek Limited and slump sale to Majesco Software and Solutions India Private Limited

(a) Pursuant to a Scheme of Arrangement (the "scheme") under section 391 to 394 read with Section 100 to 103 and other applicable provision of the Companies Act, 1956 and other applicable provision of the Companies Act, 2013, the Board of Directors of Mastek Limited ("Mastek"), at its meeting held on September 15, 2014, had approved the demerger of the Insurance Products and Services business of Mastek, into the Company (Formerly known as Minefields Computers Limited), followed by transfer by the Company of the offshore insurance operations business in India to Majesco Software and Solution India Private Ltd ("MSSIPL") a wholly owned subsidiary of Majesco Software and Solution Inc., USA ("MSSUS") a step down subsidiary of the Company, retaining the domestic operations with the Company. The appointed date of the scheme was April 1, 2014 and the appointed date for transfer of the offshore insurance operation business transfer was November 1, 2014. Mastek obtained necessary approvals for the scheme under clause 24(f) of the Listing Agreement with the BSE and NSE from SEBI on December 9, 2014. The scheme has also been approved by the Hon''ble High Court of Bombay and Hon''ble High Court of Gujarat and on filing with the Registrar of Companies ("ROC") the said scheme became effective from June 1, 2015. As specified in the scheme, Mastek shareholders have been issued one equity share in the Company for every share held in Mastek, while retaining their existing Mastek share. Existing 50,000 equity shares of Rs. 10/- each of the Company (Formerly known as Minefields Computers Limited) were cancelled on June 1, 2015.

The shares of the Company were listed on August 19,2015 on the BSE and NSE, where Mastek is listed. The demerger has resulted in the transfer of the assets, liabilities, other reserves and surplus, employee stock options outstanding account and hedging reserve account related to the demerged entity from Mastek and accordingly have been given effect to in these financial statements. The difference in book value of the above assets net of liabilities and specific reserves and net of transfer to MSSIPL as on March 31, 2015 aggregating to Rs. 20,344.01 lakhs have been credited to surplus in Profit and Loss Statement.

(b) Consequent to transfer of the offshore insurance business in India to MSSIPL, the business with reference to which the Capital Reserve was created stand transferred and is no longer with the Company. Hence the capital reserve of Rs. 106.07 lakhs has been transferred to General Reserve

(c) The deferred tax assets arising from difference between the book value of depreciable fixed assets and of their written down value for tax purpose and timing difference of certain expenses relating to the period prior to April 1, 2015 aggregating to Rs. 284.02 lakhs has been credited to General Reserve.

7. Segment reporting

The Company has presented data relating to its segments in its consolidated financial statements which are presented in the same annual report as Majesco Limited. In terms of provisions of Accounting Standard (AS) 17 - ''Segment Reporting'', no disclosures related to segments are therefore presented in these stand-alone financial statements.

8. Indian accounting standards

The Ministry of Corporate Affairs (MCA), through its notification in Official Gazette a dated February 16, 2015, notified the Indian Accounting Standards (Ind AS) applicable to certain classes of Companies. Ind As would replace the existing Indian GAAP prescribed under Section 133 of the Companies Act, 2013 read with Rule 7 of Companies (Accounts Rules, 2014, with a transition date of April 1, 2017

The Company has evaluated the effect of transition from Indian GAAP to Ind As and following are the areas which would have an impact of account of the transition on the Group :

Fair valuation of certain financial instruments.

Employee costs pertaining to defined benefit obligations and stock option.

Discounting of certain long-term liabilities.

Further, there would be a change in the presentation of financial statements including additional disclosures.

9. Previous year figures have been regrouped or reclassified wherever necessary to correspond with current year''s classification / disclosure.

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Mar 31, 2016

1. Considering the fact that substantial portion of the building has been let out for longer period of time, the portion of the building let out has been reclassified as investment property.

2. Mahape building which has been transferred pursuant to the scheme of arrangement, is pending to be registered in the name of Majesco Limited as at March 31, 2016. The liability towards stamp duty in this regard is yet to be ascertained and provided for.

3. Previous year figures are nil. (Refer note 30)

29 Employee Stock Option Scheme

(a) Nature and extent of employee share-based payment plans that existed during the year:

Plan I

The company introduced the employee stock option scheme as a part of the scheme of arrangement, approved by the Hon''ble High Court of Gujarat and Hon''ble High Court of Bombay. The shareholders of Mastek Limited approved the Scheme of Arrangement in the Court Convened meeting held on March 05, 2015, and the shareholders of Majesco Limited approved the scheme of arrangement through consent letter. The Company introduced the scheme for granting up to 80,00,000 stock options to the employees, each option representing one equity share of the Company. The exercise price is to be determined by the Nomination and Remuneration Committee ("Committee") and such price may be the face value of the share from time to time or may be the market price or any other price as may be decided by the Committee and will be governed by the Securities and Exchange Board of India (SEBI) (Share based employee benefits) Regulations, 2014 and accounted in accordance with the guidance note on Employees Share Based Payments issued by the 30 Demerger from Mastek Limited and slump sale to Majesco Software and Solutions India Private Limited

(a) Pursuant to a Scheme of Arrangement (the "scheme") under section 391 to 394 read with Section 100 to 103 and other applicable provision of the Companies Act, 1956 and other applicable provision of the Companies Act, 2013, the Board of Directors of Mastek Limited ("Mastek"), at its meeting held on September 15, 2014, had approved the demerger of the Insurance Products and Services business of Mastek, into the Company (Formerly known as Minefields Computers Limited), followed by transfer by the Company of the offshore insurance operations business in India to Majesco Software and Solution India Private Ltd ("MSSIPL") a wholly owned subsidiary of Majesco Software and Solution Inc., USA ("MSSUS") a step down subsidiary of the Company, retaining the domestic operations with the Company.

The appointed date of the scheme was April 1, 2014 and the appointed date for transfer of the offshore insurance operation business transfer was November 1, 2014. Mastek obtained necessary approvals for the scheme under clause 24(f) of the Listing Agreement with the BSE and NSE from SEBI on December 9, 2014. The scheme has also been approved by the Hon''ble High Court of Bombay and Hon''ble High Court of Gujarat and on filing with the Registrar of Companies ("ROC") the said scheme became effective from June 1, 2015. As specified in the scheme, Mastek shareholders have been issued one equity share in the Company for every share held in Mastek, while retaining their existing Mastek share. Existing 50,000 equity shares of Rs.10/- each of the Company (Formerly known as Minefields Computers Limited) were cancelled on June 1, 2015.

The shares of the Company were listed on August 19, 2015 on the BSE and NSE, where Mastek is listed. The demerger has resulted in the transfer of the assets, liabilities, other reserves and surplus, employee stock options outstanding account and hedging reserve account relation to the demerged entity from Mastek and accordingly have been given effect to in these financial statements.

The difference in book value of the above assets net of liabilities and specific reserves and net of transfer to MSSIPL as on March 31, 2015 aggregating to Rs.20,344.01 lakhs have been credited to surplus in Profit and Loss Statement.

(b) Consequent to transfer of the offshore insurance business in India to MSSIPL, the business with reference to which the Capital Reserve was created stand transferred and is no longer with the company. Hence the capital reserve of Rs.106.07 lakhs has been transferred to General Reserve.

(c) The deferred tax assets arising from difference between the book value of depreciable fixed assets and of their written down value for tax purpose and timing difference of certain expenses relating to the period prior to April 1, 2015 aggregating to Rs.284.02 lakhs has been credited to General Reserve.