1 Basis of accounting
 
 The financial statements have been prepared to comply with the
 requirements of the Companies Act, 1956, under the historical cost
 convention on the accrual basis of accounting and in accordance with
 the standards on accounting issued by the Institute of Chartered
 Accountants of India referred to in section 211(3C) of the Companies
 Act, 1956 as notified by Companies (Accounting Standard) Rules, 2006.
 
 2 Use of estimates:
 
 The preparation of financial statements in conformity with generally
 accepted accounting policies requires management to make estimates and
 assumptions that affect the reported amounts of assets and liabilities
 and disclosure of contingent assets and liabilities at the date of the
 financial statement and the reported accounts of revenues and expenses
 for the years presented.
 
 3 Revenue recognition
 
 Income from construction contracts is recognized by reference to the
 stage of completion of the contract activity as certified by the
 client.
 
 4 Employee benefit
 
 a) Contribution to Provident Fund, Family Pension and ESI Scheme are
 accounted for on actual payment basis and is charged to profit and loss
 account of the year. The eligible employees of the company are entitled
 to receive benefits under Provident Fund, a defined contribution plan
 in which both employees and the company makes monthly contributions at
 a specified percentage of the covered employees salary, to the
 provident fund/ESI authorities.
 
 b) Liability on account of leave encashment and gratuity is provided on
 the basis of Actuarial Certificate as prescribed by Accounting Standard
 15 Employee Benefits.
 
 5 Investment
 
 Long term investments are stated at cost. No provision is made for
 diminution in their value.
 
 6 Inventory
 
 All inventories consisting of Work in Progress (Contract), Materials
 and stores in hand has been valued at cost as certified by the
 Management.
 
 7 Fixed assets.
 
 Fixed Assets has been stated at cost less accumulated depreciation.
 Cost includes purchase price and all other attributable cost of
 bringing the assets to working condition for intended use.
 
 8 Depreciation
 
 Depreciation is provided on straight line method as per rates specified
 in Schedule XIV to the Companies Act, 1956 except Depreciation on
 Shuttering Material which has been charged on the basis of useful life
 estimated of 4 year by the Management taking into account 20% scrap
 value at the end of the useful life.
 
 9 Contingent liabilities
 
 Contingent Liabilities not admitted by the company are not provided for
 in the accounts but are disclosed by way of Notes to Accounts.
 
 10 Taxation
 
 Income Tax comprises Current Tax and Deferred Tax. Deferred tax assets
 and liabilities are recognized for the future tax consequences of
 timing differences subject to consideration of prudence. Deferred tax
 assets and liabilities are measured using the tax rates enacted or
 substantively enacted by the balance sheet date.
 
 11 Earning per share
 
 The earnings considered in ascertaining company''s EPS comprises the
 net profit after tax. The number of shares used in computing basic EPS
 is the weighted average number of shares outstanding during the year.
 
 12 Borrowing cost
 
 Borrowing costs that are directly attributable to the acquisition or
 construction of a qualifying asset are considered as part of the cost
 of that asset. Other borrowing costs are recognized as an expense in
 the year in which they are incurred.
 
 13 Impairment of assets
 
 Pursuant to Accounting Standard (AS-28) on - Impairment of assets
 issued by the Institute of Chartered Accountant of India, the company
 assessed its fixed assets for impairment as at the year end and
 concluded that there has been no significant impaired fixed assets that
 needs to be recognized in the books of accounts.
 
 14 Insurance claims lodged / Receivable with insurance companies have
 been accounted for in the books at the value estimated by the
 management.