Notes to Accounts of Samor Reality Ltd.

Mar 31, 2025

L) Recognition and measurement of Contingent liabilities, provisions and uncertain tax positions:

There are various legal, direct and indirect tax matters and other obligations including local and state levies, availing input
tax credits etc., which may impact the Company. Evaluation of uncertain liabilities and contingent liabilities arising out of
above matters and recognition and measurement of other provisions are based on the assessment of the probability of an
outflow of resources, and on past experience and circumstances known at the balance sheet date. The actual outflow of
resources at a future date may therefore vary from the figure included in other provisions.

M) Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short-term deposits with an
original maturity of three months or less, which are subject to an insignificant risk of changes in value. For the purpose of
the statement of cash flows, cash and cash equivalents consist of unrestricted cash and short-term deposits, as defined
above, net of outstanding bank overdrafts as they are considered an integral part of the Company''s cash management..

N) Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.

Financial assets and financial liabilities are initially measured at fair value, except for trade receivables which are measured
at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and
financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or
deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction
costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are
recognised immediately in Statement of Profit and Loss.

The financial assets comprise of trade receivables, cash and cash equivalents, other bank balances and deposits, interest
accrued, security deposits, intercorporate deposits, contract assets and other receivables.

These assets are measured subsequently at amortised cost.

The financial liabilities comprise of borrowings, lease liabilities, retention and capital creditors, interest accrued, deposit
from customers, trade and other payables.

Financial assets and financial liabilities are offset when the Company has a legally enforceable right (not contingent on
future events) to off-set the recognised amounts either to settle on a net basis, or to realise the assets and settle the
liabilities simultaneously

1) Financial Assets

Initial recognition and measurement

At initial recognition, the Company measures a financial asset (which are not measured at fair value) through profit or loss
at its fair value plus or minus transaction costs that are directly attributable to the acquisition or issue of the financial
asset.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in following categories:

i) Financial assets measured at amortised cost;

ii) Financial assets at fair value through profit or loss (FVTPL) and

iii) Financial assets at fair value through other comprehensive income (FVTOCI).

The Company classifies its financial assets in the above mentioned categories based on:

a) The Company''s business model for managing the financial assets, and

b) The contractual cash flows characteristics of the financial asset.

1) Financial assets measured at amortised cost :

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

a) A financial asset is measured at amortised cost if the financial asset is held within a business model whose objective is
to hold financial assets in order to collect contractual cash flows and the Contractual terms of the financial assets give rise
on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount
outstanding.

b) Financial assets are subsequently measured at amortised cost using the effective interest rate (EIR) method. Amortised
cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part
of the EIR. The EIR amortisation is included in finance income in the profit or loss. The losses arising from impairment are
recognised in the profit or loss.

ii) Financial assets at fair value through profit or loss (FVTPL):

Financial assets are measured at fair value through profit and loss unless it is measured at amortised cost or at fair value
through other comprehensive income on initial recognition. The transaction costs directly attributable to the acquisition of
financial assets and liabilities at fair value through profit or loss are immediately recognized in profit or loss.

Investments in other equity instruments

Investments in Equity instruments which are held for trading are classified as at fair value through other comprehensive
income (FVOCI) or fair value through profit or loss (FVPTL). Amount presented in other comprehensive income are not
subsequently transferred to statement of profit and loss. However, the company transfers the cumulative gain or loss
within equity. Dividend on such investments are recognised in statement of profit and loss unless the dividend clearly
represents a recovery of part of the cost of the investment.

2) . Financial Liabilities

Initial recognition and measurement

All financial liabilities are recognised initially at fair value and subsequently carried at amortised cost using the effective
interest method.

The company''s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts.
Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

i) Financial liabilities measured at amortised cost.

ii) Financial liabilities at fair value through profit or loss.

i) Financial liabilities measured at amortised cost :

All financial liabilities are measured at amortised cost. Any discount or premium on redemption/ settlement is recognised
in the Statement of Profit and Loss as finance cost over the life of the liability using the effective interest method and
adjusted to the liability figure disclosed in the Balance Sheet.

ii) Financial liabilities at fair value through profit or loss (FVTPL):

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for
trading if they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities held for trading
are recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the
initial date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL, fair value
gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently
transferred to P&L. However, the company may transfer the cumulative gain or loss within equity. All other changes in fair
value of such liability are recognised in the statement of profit and loss.

Derecognition

The Company derecognizes a financial asset when contractual rights to the cash flows from the asset expire, or when it
transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.

On derecognition of a financial asset in its entirety, the difference between the asset''s carrying amount and the sum of the
consideration received and receivable is recognized in the Statement of Profit and Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the standalone balance sheet if there is
a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to
realize the assets and settle the liabilities simultaneously.

O) Fair Value Measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date under current market conditions.

The Company categorizes assets and liabilities measured at fair value into one of three levels depending on the ability to
observe inputs employed in their measurement which are described as follows:

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

(b) Level 2 inputs are inputs that are observable, either directly or indirectly, other than quoted prices included within level
1 for the asset or liability.

(c) Level 3 inputs are unobservable inputs for the asset or liability reflecting significant modifications to observable related
market data or Company''s assumptions about pricing by market participants.

33 Segment reporting

The Company''s business activities which are primarily real estate development and related activities falls within a single reportable segment as the management of the Company
views the entire business activities as real estate development. Accordingly, there are no additional disclosures to be furnished in accordance with the requirement of Ind AS 108 -
Operating Segments with respect to single reportable segment. Further, the operations of the Company are domiciled in India and therefore there are no reportable geographical
segment.

The above fair value hierarchy explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (b)
measured at amortised cost for which fair values are disclosed in the financial statements. To provide the indication about the reliability of the inputs used in determining fair value, the Company has
classified its financial instruments in to three levels prescribed is as under:

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)

There were no transfers between the levels during the year
Valuation process

The finance department of the Company includes a team that performs the valuations of financial assets and liabilities required for financial reporting purposes, including level 3 fair values. The fair
valuation of level 1 and level 2 classified assets and liabilities are readily available from the quoted prices in the open market and rates available in secondary market respectively.

The carrying amount oftrade receivable, trade payable, cash and bank balances, short term loans and advances, statutory/ receivable, short term borrowing, employee dues are considered to be the
same as their fair value due to their short-term nature.

35 Financial risk management

The Company''s activities expose it to a variety of financial risks, including credit risk, market risk and liquidity risk. The Company''s primary risk
management focus is to minimize potential adverse effects of market risk on its financial performance. The Company''s risk management assessment and
policies and processes are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor
such risks and compliance with the same.

The Company''s risk management is governed by policies and approved by the board of directors. Company identifies, evaluates and hedges financial risks
in close co-operation with the Company''s operating units. The company has policies for overall risk management, as well as policies covering specific
areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments.

The audit committee oversees how management monitors compliance with the company''s risk management policies and procedures, and reviews the
adequacy of the risk management framework in relation to the risks faced by the Company. The audit committee is assisted in its oversight role by internal
audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the
audit committee.

36 Capital Management:

The Company''s capital management is intended to maximise the return to shareholders and benefits for other stakeholders for meeting the long-term and
short-term goals of the Company; and reduce the cost of capital through the optimization of the capital structure i.e. the debt and equity balance.

The Company monitors the capital structure on the basis of Net debt to equity ratio and maturity profile of the overall debt portfolio of the Company.

41. Additional Regulatory Information (Non Ind AS)

The disclosures required by amendment to Division II of Schedule III of the Companies Act,2013 are given only to the extent
applicable:

i. Title deeds of immovable property other than proper taken on lease by duly executed lease agreement are held in the name of the
company.

ii. During the year there has been no change in the aggregate of the net carrying value of assets on account of revaluation in respect
of Property, Plant & Equipment and intangible assets.

iii. There are no intangible assets under development in the Company during the current reporting period.

iv. No proceedings have been initiated or pending against the company for holding any benami property under the Benami
transactions (Prohibition) Act,1988 (45 of 1988) and the rules made thereunder.

v. The company does have any borrowings from banks against the security of current assets.

vi. The Company has not been declared as a willful defaulter by any bank or financial institution or other lender in accordance with
the guidelines on wilful defaulters issued by the Reserve Bank of India.

vii. The company has not entered in to any transaction with companies struck off under section 248 of the Companies Act,2013.

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

ix. The borrowing taken by the company from the banks has been used for the specific purpose for which it was taken at the balance
sheet date.

x. There are no transactions that have been surrendered or disclosed as income during the year in the tax assessments under the
Income Tax Act, 1961 which have not been recorded in the books of account.

42. The company is not liable to make any CSR expenditure according to Section 135 of the Companies Act, 2013

43. Subsequent Events:

Subsequent to Balance Sheet Date, there are no events occurred which require disclosure or adjustments in the financial statements.

44. On a periodical basis and as and when required, the Company reviews the carrying amounts of its assets and finds that there is no
indication that those assets have suffered any impairment loss. Hence, no such impairment loss has been provided for the year ended
31st March, 2025 (For the year ended 31 March, 2024 is Rs. Nil)

45. Previous Periods'' / Years'' figures have been re-grouped / re-classified where necessary to make it comparable with the current
period.

( Signature contains for the Note No. 1 to 45 )

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

Samor Reality Limited

For Shah & Shah
Chartered Accountants

(FRN:131527W) Birjubhai Ajitbhai Shah Pooja Aidasani

Managing Director & CFO Company Secretary

DIN:02323418

Tejas C. Shah
Partner

Membership Number: 135639

Jagrutiben Birjubhai Shah

Place : Ahmedabad Whole-time Director

Date:15/05/2025 DIN:02334894

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Mar 31, 2024

(i) Capitalized Borrowing Cost

No borrowing cost are capitalised during the current year and previous year (i) Transition to Ind AS

On Transition to Ind AS (i.e. 1 April 2022), the company has elected to continue with the carrying value of all property, plant and equipment measured as per previous GAAP and use that carrying value as the deemed cost of property, plant and equipment.

Note: fair Value Measurement and Techniques:-

1) The fair value of Investment property has been determined by external, independent registered property valuers as defined under nile 2 of companies (Registered valuers and Valuation) Ru1es,20l7 having appropriate recognised professional qualification and recant experience in the location and category of the property being valued in conjunction with valuer assessment services undertaken by approved valuer.

2) The company obtains independent valuation for Its Investment property at least annually. The valuation has been done based on the guideline value of government, periodic factor and verbal market inquiry & survey of the subject area, i.e. Market Value Approach.

(a) The company has only one class of shares referred to as Equity shares having face value of Rs. 10/-. Each Holder of equity share is entitled to 1 vote per share Company has issued 11,00,000 share warrants of face value of Rs.lO/* each eta premiwn of Rs.26/-eech.

[nature and purpose of reserves

Securities Premium : Securities premium Includes premium on issue of shares. It will be utilised In accordance with the provisions of the Companies Act* 2013. Retained earnings: Represents surptus/(defieit) in statement of Profit and Loss.

FVOCt equity Investments : The Company has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income These chances are accunulated within the FVOCI equity investments reserve within equity

34 Segment reporting

Segment reporting Based on -management approach^- as defined in Ind As 108- Operating Segments the chief operating decision maker regularly monitors and reviews the operating results of the whole company as one segment of "pesticides, insecticides, herbicides, and fertilizers.⁰Thus, defined In Ind As 10S, the company’s entire business falls under this one operational segment and hence the necessary information has already been disclosed in the Balance Sheet and the the Statement of Profit & Loss. The analysis of geographical segments is based on the areas in which customers of the company are located.

The above fair vabe hierarchy explain* th* judgements and estimate* made in determining the fair values of the financial Instruments that are (a) recognised and measured at far value and |b) measured at amortiied cost for which fair values are disclosed in the financial statements To provide the indication about the reliability of the Inputs used in determine^ fair value, the Company has classified its financial instruments in to three levels prescribed is as under:

level 1 ¦ Quoted prices {unadjusted! in active markets for identical assets or liabilities

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

Level 3 - inputs for the aisets or liabilities that are not based on observable market data (unobservable mputs)

There were no transfers between the level* during the year Valuation process

The finance department of the Company includes a team that performs the valuations of financial assets and llablilies retprired for financial reporting purposes, iteludinf level 3 fair values, the fair valuation of level 1 and level 2 classified assets end liabilities are readily available from the quoted prices in the open market and rates available In secondary market respectively.

Ihe carrying amount of trade receivable, trade payable, cash and bank balances, short term loans and advances, statutory/ receivable, shortterm borrowing, employee dues are considered to be the same as their far value due to thdr short-term nature.

36 Transition to Ind-AS

This financial statements, for the year ended March 31, 2024, are the first financials of the Company being prepared in accordance with Ind AS. For periods up to and including the year ended March 31, 2023, the Company has prepared its financial statements in accordance with accounting standards notified under section 133 of the Companies Act 2013 read together with relevant rules of the Companies (Accounts) Rules, 2020 (Indian GAAP). Therefore, comparative information Is reclassified / remeasured so as to comply with ind AS.

Accordingly, the Company has prepared financial statements which comply with Ind AS applicable for year ended March 31, 2024, together with the comparative period data as at and for the year ended March 31, 2023 & March 31, 2022 as described inthe summary of significant accounting policies. The Company has prepared the opening balance sheet as per Ind AS as of April 1, 2022 (the transition date) by recognising all assets and liabilities whose recognition is required by Ind AS, not recognising items of assets or liabilities which are not permitted by Ind AS, by reclassifying items from previous GAAP to Ind AS as required under Ind AS, and applying Ind AS in measurement of recognized assets and liabilities.

An explanation of how the transition from previous GAAP to Ind AS has affected the Company s Balance sheet. Statement of Profit and Loss, is set out he re-in-after.

However, this principle is subject to the certain mandatory exceptions and optional exemptions availed by the Company in line with principles of Ind AS 101 as detailed below:

36.01 Exemptions and exceptions availed I Optional exemptions

I Property, Plant and Equipment (PPE):

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of Its property, plant and equipment as recognised in the financial statements as at the date of transition to ind AS, measured as per the previous GAAP and use that as its deemed cost as at the date of transition after making necessary adjustments for de-commissioning liabilities. This exemption can also be used for intangible assets covered by Ind AS 38 Intangible Assets Accordingly, the Company has elected to measure all of its property, plant and equipment at their previous GAAP carrying value.

II Mandatory Exceptions

1 Estimates

The estimates as at March 31, 2022 & march 31, 2023 are consistent with those made for the same dates In accordance with the Indian GAAP (after adjustments to reflect any differences in accounting policies) apart from the impairment of financial assets based on the risk exposure and application of ECL model where application of Indian GAAP did not require any estimation.

The estimates used by the Company to present these amounts in accordance with Ind AS, reflect conditions at April 1, 2019, the date of transition to Ind AS and as at March 31,2022.

2 Classification and measurement of financial assets

Ind AS 101 provides exemptions to certain classification and measurement requirements of financial assets under Ind AS 109, where these are impracticable to implement Classification and measurement is done on the basts of facts and circumstances existing as on the transition date. Accordingly, the Company has determined the classification of financial assets based on facts and circumstances that exist on the transition date.

3 De-recognition of financial assets and liabilities:

The Company has elected to apply the de-recognition provisions of Ind AS 109 prospectively from the date of transition to Ind AS.

1 Property, Plant and Equipment

As per Ind As 16 a Specific asset which was actually capitalized in Indian GAAP is now decapitalised and expense off though profit and loss, and the life of assets are reevaluated, hence depreciation is increased.

2 Investments and Fair value through OCI:-

As per Indian GAAP,Investment shows at a cost but as per Ind as 109, Investments are shown at a fair value and gain is routed through the Other comprehensive income by following the FVOCI (Non Redassifiable) method.

3 Inventories & Revenue from Operation:-

As per Indian GAAP, revenue was booked as per perventage of completion method,i.e, Over the period but as per ind AS IIS, reveue is required to be booked on the Point in time basis, so the revenue was revesed and the cost of sales was capitalized back in inventory.

4 Deferred Tax Adjustments:

Tax adjustments include deferred tax impact on account of differences between previous GAAP and Ind AS which mainly Includes Property plant and equipment and Investment property

37 Financial risk management

The Company’s activities expose it to a variety of financial risks, including credit risk, market risk and liquidity risk. The Company''s primary risk management focus is to minimize potential adverse effects of market risk on its financial performance. The Company''s risk management assessment and policies and processes are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor such risks and compliance with the same.

The Company''s risk management is governed by policies and approved by the board of directors. Company''s identifies, evaluates and hedges financial risks in close co-operation with the Company''s operating units. The company has policies for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments.

The audit committee oversees how management monitors compliance with the company*s risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the audit committee.

38 Capital Management:

The Company’s capital management is intended to maximise the return to shareholders and benefits for other stakeholders for meeting the long-term and short-term goals of the Company; and reduce the cost of capital through the optimization of the capital structure l.e. the debt and equity balance.

The Company monitors the capital structure on the basis of Net debt to equity ratio and maturity profile of the overall debt portfolio of the Company.

Comment: There is a significant increase in inventory due to the effect of Ind As 115, revenue recognition criteria adopted by the company is the point in time hence revenue is reversed and all cost of sales is capitalized in inventory which leads to a significant increase in current assets. The investment in Equity instruments is revalued to their fair values as per Ind as 109 which also leads to a significant increase in current assets.

Comment: There is significant increse in the debt, as the company is into the business of construction & devlopment of residential flats so that continuous working capital capital requirment isfufilled by the borrowing money from the public by issuaing Right shares and from financial institutions.

43. Additional Regulatory information (Non Ind AS)

The disclosures required by amendment to Division II of Schedule III of the Companies Act,2013 are given only to the extent applicable:

I. Title deeds of immovable property other than proper taken on lease by duly executed lease agreement are held in the name of the company.

II. During the year there has been no change in the aggregate of the net carrying value of assets on account of revaluation in respect of Property, Plant & Equipment and intangible assets.

ill. There are no intangible assets under development In the Company during the current reporting period.

Iv. No proceedings have been initiated or pending against the company for holding any benami property under the Benami transactions (Prohibition) Act,1988 (45 of 1988) and the rules made thereunder

v. The company does have any borrowings from banks against the security of current assets.

vl. The Company has not been declared as a willful defaulter by any bank or financial institution or other lender In accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

vii. The company has not entered in to any transaction with companies struck off under section 248 of the Companies Act,2013.

viii. There are no charges or satisfaction of charges yetto be registered with Registrar of Companies beyond the statutory period.

ix. The borrowing taken by the company from the banks has been used for the specific purpose for which it was taken at the balance sheet date.

x. There are no transactions that have been surrendered or disclosed as income during the year In the tax assessments under the Income Tax Act, 1961 which have not been recorded in the books of account.

44. The company is not liable to make any CSR expenditure according to Section 135 of the Companies Act, 2013

45. Subsequent Events:

Subsequent to Balance Sheet Date, there are no events occurred which require disclosure or adjustments in the financial statements.

46. On a periodical basis and as and when required, the Company reviews the carrying amounts of its assets and finds that there Is no indication that those assets have suffered any impairment loss. Hence, no such impairment loss has been provided for the year ended 31st March, 2023 (For the year ended 31 March, 2022 is Rs. Nil)

47. Previous Periods’/ Years'' figures have been re-grouped /re-classified where necessary to make it comparable with the current period.

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Mar 31, 2023

(a) Rights, Preferences and Restrictions attached to equity shares :

- Right to receive dividend as may be approved by the Board of Directors / Annual General Meeting.

- The equity shares are not repayable except in the case of a buy back, reduction of capital or winding up in terms of the provisions of the Companies Act, 2013.

- Every member of the company holding equity shares has a right to attend the General Meeting of the Company and has a right to speak and on a show of hands, has one vote if he is present in person and on a poll shall have the right to vote in proportion to his share of the paid-up capital of the company.

27 SEGMENT REPORTING

The Company is engaged in the business of trading of Construction Material and Development of Residential Building. This in the context of Accounting Standard (AS 17) "Segment Reporting", notified under the Companies (Accounting Standards) Rules, 2006, constitutes Two primary segment. The Company have a Two segment. Accordingly, disclosures required under AS 17 are applicable.

28 Additional Regulatory Information as per Para Y of Schedule III to Companies Act, 2013:

i. The Company does not have any immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the company.

ii. The Company has not revalued its Property, Plant and Equipment.

iii. The Company has not granted loans or advances in the nature of loans are granted to promoters, Directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that are:

(a) repayable on demand or

(b) without specifying any terms or period of repayment

iv. The Company does not have any capital work-in-progress.

v. The Company does not have any intangible assets under development.

vi. No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

vii. The company have availed Project Loan facility from Aditya Birla Housing Finance Limited against the Project Receivables and Mortgage of Land of the project ''The Gold Skyvilla" and executed Mortgage deed on 3rd February, 2023. Total Loan Facility availed is Rs. 4500.00 Lakh. Balance outstanding as on 31st March, 2023 is Rs. 620.10 Lakh.

viii. The company is not declared as wilful defaulter by any bank or financial institution or other lender.

ix. 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

x. The company have availed Project Loan facility from Aditya Birla Housing Finance Limited against the Project Receivables and Mortgage of Land of the project "The Gold Skyvilla" and executed Mortgage deed on 3rd February, 2023. Total Loan Facility availed is Rs. 4500.00 Lakh. Balance outstanding as on 31st March, 2023 is Rs. 620.10 Lakh.

xi. The company does not have any investments and hence, compliance with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017 is not applicable.

Reasons for Variation more than 25%:

(a) Current Ratio : There is significant Increase of Stock in Trade of Project, Project is treated as Stock in Trade, Several Assets and Liabilities compared to Last year have been increased and decreased significantly, hence there is huge decrease in Current Ratio.

(b) Debt Equity Ratio : During Current Financial Year company have raised Project loan and also received inter corporate loan for betterment of the project as well as company operations hence there is significant increase in the Debt taken, also company have raised its capital throught Right Issue hence there is significant increase in the debt equity ratio as comperad to last year.

(c) Debt Service Coverage Ratio : During Current Financial Year company have raised Project loan and also received inter corporate loan for betterment of the project as well as company operations hence there is significant increase in the Debt taken, hence there is significant increase in the debt service coverage ratio as comperad to last year.

(d) Return on Equity Ratio : Project is started in just last year and will give results in upcoming year, during current year company have heavy indirect expense as compared to last year and company have increased capital for the upcoming projects which have not started hence there is significant decrease in return on capital employed.

(e) Inventory Turnover Ratio : There is significant Increase of Stock in Trade of Project, Project is treated as Stock in Trade hence there is huge decrease in Inventory Turnover Ratio.

(f) Trade Payable Turnover Ratio : Project is started in previous year and will give results in upcoming year, There are Trade payables relating to the Project as well as company general operation but till end of year very nominal revenues started from project, hence there is significant increase in Trade payable Turnover Ratio.

(g) Net Capital Turnover Ratio : Additional Capital Introduced to fund the project, the project added a very nominal turnover in current year turnover, hence there is significant decrease in Net Capital Turnover Ratio.

(h) Net Profit Ratio: Additional Capital Introduced to fund the project, the project added a very nominal turnover in current year turnover, hence there is significant decrease in Net Profit Ratio.

(i) Returns on Capital Employed : Additional Capital Introduced to fund the project, the project added a very nominal turnover in current year turnover, hence there is significant decrease in Returns on Capital Employed.

(j) Retunr on Investment : Comany have raised fund from share holder as well as from Lenders to the project, the revenue from project is started in nominal way in current year, hence due to increase in Investment Return on investment ration is decreased as compared to last year.

xiii. The Company does not have any scheme of arrangements which has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

xiv. 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 persons or entities, including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Company or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

B. No funds have been received by the Company from any persons or entities, including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Funding Parties or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

29 Based on the information available with the Company, there are no dues to Small and Micro enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006. The information regarding Micro and Small enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company.

30 Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current period''s classification / disclosure.