1.  Disclosure of Accounting Policies
 
 The Financial statements are prepared and presented under the
 historical cost convention on the accrual basis of accounting and
 Generally Accepted Acounting Principles (GAAP) which include compliance
 with the Accounting Standards prescribed by the Companies (Accounting
 Standards) Rules, 2006, and the relevant provisions of the Companies
 Act, 1956, to the extent applicable. The management evaluates all the
 recently issued or revised Accounting Standards on an ongoing basis.
 
 Use of Estimates
 
 The preparation of the financial statements in confirmity with GAAP
 requires the Management to make estimates and assumptions that affect
 the reported balances of assets and liabilities and disclosures
 relating to contingent assets and liabilities as at the date of
 financial statements and reported amounts of income and expenses during
 the period. Actual results could differ from the estimates. Any
 revision to accounting estimates is recognised prospectively in current
 and future periods.
 
 2 Valuation of Inventories
 
 Projects in progress includes the value of materials and stores at
 sites.  Inventories are valued as under:
 
 a) Flats/Shops/Houses/Plots At lower of cost or net realizable value
 
 b) Projects in Progress At lower of cost or net realizable value
 
 c) Stores & Spares At lower of cost or net realizable value
 
 3 Cash Flow Statements
 
 Cash flows are reported using the indirect method, whereby net profit
 before tax is adjusted for the effects of transactions of a non-cash
 nature and any deferrals or accruals of past or future cash receipts or
 payments. The cash flows from regular revenue generating, investing and
 financing activities of the Company are segregated. The Cash flow
 statement is separately attached with the Financial Statements of the
 company.
 
 4 Net Profit or Loss for the Period, Prior Period Items and Changes in
 Accounting Policies
 
 The prior period expenses are charged separately to the profit and loss
 account, except relating to sites and construction divisions, which
 have been charged to Work in Progress. There is no change in the
 accounting policy during the year.
 
 5 Depreciation Accounting
 
 Depreciation is provided on Written Down Value method on pro-rata basis
 at the rates as prescribed in Schedule XIV of the Companies Act, 1956
 for the period the assets are held by the Company. The same are as
 given below:
 
 Class of Asset Rate of Depreciation
 
 Air Conditioners & Refrigerators 13.91%
 
 Computers 40%
 
 Furniture, Fixtures & Fittings 18.10%
 
 Land 0%
 
 Office Equipments 13.91%
 
 Plant & Machinery 13.91%
 
 Vehicles 25.89%
 
 Depreciation on car parking spaces is not charged during the year as
 the management treats the same as Land and not Building.
 
 6 Revenue Recognition
 
 a) The company follows Percentage of Completion method of accounting
 under which Sales Turnover and corresponding Profit/ Loss on each
 project in progress is accounted for at the year end in the proportion
 that the actual cost incurred bears to the total estimated cost of such
 project, subject to actual cost being 30% or more of total estimated
 cost.
 
 b) The estimates relating to saleable area, sale value, estimated cost
 etc., are revised and updated periodically by the management and
 necessary adjustments are made in the current year account.
 
 c) Whereas all income and expenses are accounted for on accrual basis,
 interest on delayed payments by/to customers against dues are taken
 into account on Cash Basis owing to practical difficulties and
 uncertainties involved.
 
 d) Dividend income is recognised when the right to receive the dividend
 is established.
 
 e) The Company pays interest on refund of Registration money received
 for Future Projects in the eventuality if property is not offered to
 them by the Company in the project against which such registration
 amounts are received. In view of the same interest is charged to Profit
 & Loss Account only when liability of interest crystalizes.
 
 f) Income from works contracts is recognised on the basis of running
 bills raised during the year. The related costs there against are
 charged to the profit & loss account.
 
 g) Indirect costs (as detailed in Schedule 11) are treated as Period
 Costs and are charged to Profit and Loss Account in the year in which
 they are incurred.
 
 7 Accounting for Fixed Assets
 
 Fixed assets are stated at cost less accumulated depreciation. The
 Gross Block of fixed assets are shown at the cost of acquisition, which
 includes taxes, duties and other identifiable direct expenses incurred
 upto the date the asset is put to use. Assets costing less than Rs.
 5,000/- are fully depreciated in the year of purchase. There was no
 revaluation of fixed assets carried out during the year.
 
 8 The Effects of Changes in Foreign Exchange Rates
 
 Transactions in foreign currency are recorded at the exchange rate
 prevailing on the date of the transaction. Gains/ losses arising due to
 fluctuation, if any, in the exchange rates are recognised in the Profit
 & Loss Account in the period in which they arise. There is no gain or
 loss on account of exchange difference during the year.
 
 9 Accounting for Investments
 
 Investments that are readily realisable and intended to be held for not
 more than a year are classified as current investments. All other
 investments are classified as long-term investments.  Current
 investments are carried at lower of cost and fair value determined on
 an individual investment basis. Long-term investments are carried at
 cost. However, when there is a decline, other than temporary, in the
 value of the long term investment, the carrying cost is reduced to
 recognise the decline.
 
 10 Employee Benefits
 
 a) Provisions for Gratuity and Leave Encashment are made on the basis
 of Actuarial Valuation Certificate for the year ending 31.03.2011, in
 accordance with AS-15 (Revised 2005) on ''Employee Benefits''.
 
 b) Provident Fund Contribution made during the year are charged to
 Profit & loss Account.
 
 11 Borrowing Costs
 
 Borrowing costs which have a direct nexus and are directly attributable
 to the projects are charged to the projects and other borrowing costs
 are treated as periodic cost. Borrowing Costs are determined in
 accordance with the provisions of AS-16.
 
 Borrowing Costs that are attributable to the acquisition or
 construction of qualifying assets are capitalized as part of the cost
 of such assets. A qualifying asset is one that necessarily takes
 substantial period of time to get ready for intended use. All other
 borrowing costs are charged to revenue.
 
 During the current year, no borrowing costs were capitalized in
 accordance with the provisions of AS-16. (Previous Year : NIL)
 
 12 Segment Reporting
 
 a) Having regard to the integrated nature of the Real Estate
 Development business of the company, the disclosure requirement of
 Segment Reporting pursuant to the Accounting Standard (AS-17) is not
 applicable.
 
 b) The company''s Construction business, in terms of revenue, result and
 asset empolyed, is not reportable segment as per the Accounting
 Standard (AS-17) on Segment Reporting.
 
 13 Related Party Disclosure
 
 The Details are stated in the financial notes below which are not
 reproduced here.
 
 14 Leases Financial Lease :
 
 The company does not have any item covered under finance lease which
 needs disclosure as per Accounting Standard (AS-19) on Leases.
 
 Operating Lease :
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased term are classified as
 operating leases. Operating lease payments are recognized as an expense
 in the profit and loss account on a straight-line basis over the lease
 term.
 
 15 Earnings Per Share
 
 In determining earnings per share, the Company considers the net profit
 after tax and includes the post-tax effect of any extraordinary /
 exceptional item. The number of shares used in computing basic earnings
 per share is the weighted average number of shares outstanding during
 the period. The number of shares used in computing diluted earnings per
 share comprises the weighted average shares considered for deriving
 basic earnings per share, and also the weighted average number of
 equity shares that could have been issued on the conversion of all
 dilutive potential equity shares.  The details are stated in the
 financial notes below which are not reproduced here.
 
 16 Consolidated Financial Statements
 
 Consolidated financial statements of the company and its subsidiaries
 M/s Ansal Real Estate Developers Private Limited, M/s Lancer Resorts
 and Tours Private Limited, M/s Potent Housing & Construction Private
 Limited, M/s Sabina Park Resorts and Marketing Private Limited and M/s
 Triveni Apartments Private Limited, all incorporated in India, are
 enclosed separately.
 
 17 Accounting for Taxes on Income Income Tax
 
 Income-tax expense comprises of current tax being amount of tax
 determined in accordance with the Income-tax law. A provision is made
 for income-tax annually.
 
 Deferred Tax
 
 a) Current tax is determined as the amount of tax payable as per Income
 Tax Act, 1961.
 
 b) Deferred Tax is recognized, subject to the consideration of
 Prudence, on Timing Differences being differences between taxable
 income and accounting income, that originate in one period and are
 capable of being reversed in one or more subsequent periods, to the
 extent the timing differences are expected to crystalise.
 
 c) The carrying amount of deferred tax assets are reviewed at each
 balance sheet date. The Company writes down the carrying amount of a
 deferred tax asset to the extent that it is no longer reasonably
 certain or virtually certain, as the case may be, that sufficient
 future taxable income will be available against which deferred tax
 asset can be realised. Any such write down is reversed to the extent
 that it becomes reasonably certain or virtually certain, as the case
 may be that sufficient future taxable income will be available.
 
 18 Financial Reporting of Interests in Joint Ventures
 
 The management has applied AS 27, Financial Reporting of Interests in
 Joint Ventures, in accounting for interests in joint venture and the
 reporting of joint venture assets, liabilities, income and expenses in
 the financial statements of venturer, regardless of the structures or
 forms under which the joint venture activities take place. The details
 are stated in the financial notes below which are not reproduced here.
 
 19 Impairment of Assets
 
 At the Balance Sheet date an assessment is done to determine whether
 there is any indication of impairment in the carrying amount of the
 company''s fixed assets. If any such indication exist the asset''s
 recoverable amount is estimated. An impairment loss is recognised
 whenever the carrying amount of an asset exceeds it''s recoverable
 amount. After the recognition of impairment loss the depreciation
 charged for the assets is adjusted in future periods to allocate the
 asset''s revised carrying amount less the residual value, if any, on the
 written down value basis over it''s useful remaining life.
 
 20 Provisions, Contingent Liabilities and Contingent Assets
 
 The company recognises a provision when there is a present obligation
 as a result of a past event that probable requires an outflow of
 resources and a reliable estimate can be made of the amount of
 obligation. A disclosure for a contingent liability is made when there
 is a possible obligation or a present obligation that may, but probably
 will not require an outflow of resources.
 
 Provisions are reviewed at each Balance Sheet date and adjusted to
 reflect the current best estimate. If it is no longer probable that the
 outflow of resources would be required to settle the obligation, the
 provision is reversed.
 
 Contingent assets are not recognised in the financial statements.
 However, contingent assets are assessed continually and if it is
 virtually cetain that an economic benefit will arise, the asset and
 related income are recognised in the period in which the change occurs.