1.  Presentation and Disclosure of financial statements Change in
 Accounting Policy
 
 During the year ended 31 March, 2012, the revised schedule VI notified
 under the Companies Act, 1956, has become applicable to the company,
 for preparation and presentation of its financial statements. The
 adoption of revised schedule VI does not impact recognition and
 measurement principles followed for preparation of financial
 statements. However, it has significant impact on presentation and
 disclosures made in the financial statements. The company has also
 reclassified the previous years figure in accordance with the
 requirement applicable in the current year.
 
 2.  Basis of Preparation of Financial Statements
 
 The financial statements of the company have been prepared in
 accordance with generally accepted accounting principles in India
 (GAAP). The company has prepared these financial statements to comply
 in all material respects with the Accounting Standards notified under
 the Companies (Accounting Standard) Rules 2006, (as amended) and the
 relevant provisions of the Companies Act, 1956. The financial
 statements have been prepared on an accrual basis under the historical
 cost convention.
 
 3.  Use of Estimates
 
 The preparation of financial statements requires estimates and
 assumptions to be made that affect the reported amount of assets and
 liabilities on the date of financial statements, disclosure regarding
 financial statements and reported amount of revenue and expenses during
 the reported period. These estimates are based upon management''s
 knowledge of current events and actions.  Actual results could differ
 from those estimates and differences, if any, are recognised in the
 period in which the results are known /materialised.
 
 4.  Fixed Assets
 
 a) Valuation
 
 Fixed assets are stated at cost (Gross Block) less accumulated
 depreciation. Cost comprises the purchase price and any attributable
 cost of bringing the asset to its working condition for its intended
 use. (Depreciation on fixed assets is provided at the rates and in the
 manner prescribed in schedule XIV of the Companies Act, 1956)
 
 Capital Work in Progress represents expenditure incurred in respect of
 Capital Projects under development and are carried at cost includes
 land, related acquisition expenses, development / construction costs,
 borrowing costs and other direct expenses, including advance to
 contractors and others.
 
 b) Depreciation
 
 Depreciation on fixed assets has been provided on the basis of straight
 line method as per the rates prescribed in Schedule XIV of the
 Companies Act, 1956.
 
 5.  Inventories
 
 Inventories comprise completed units for sale and property under
 construction (Work in progress):
 
 a.  Completed unsold inventory is valued at lower of cost or net
 realisable value. Cost is determined by including cost of land,
 materials, services and related overheads.
 
 b.  Work in progress is valued at cost. Cost comprises value of land
 (including development rights), materials, services and other overheads
 related to projects under construction.
 
 6.  Recognition of Income & Expenses:
 
 a) The revenue is recognised on the basis of ''Percentage of completion
 Method'' of accounting. Revenue is recognised, in relation to sold areas
 only, on the basis of percentage of actual cost incurred thereon
 including land as against the total estimated cost of the project under
 execution subject to such actual cost being 20% or more of the total
 estimated cost.
 
 The estimates of saleable area and costs are revised periodically by
 the management. The effect of such changes to estimates is recognised
 in the period such changes are determined. However, the revenue, in
 respect of project undertaken before March 31, 2010 is accounted for on
 the basis of actual receipts and instalment fallen due during the year
 towards booking of properties, subject to final adjustments on the
 completion of respective projects. However, change in this accounting
 policy doesn''t have any significant impact on the profitability of the
 company.
 
 Further interest on delayed payments, if any, is accounted for on
 realisation due to uncertainties in recovery.
 
 c) Cost of construction/development (including cost of land) incurred
 is charged to the profit & loss account in proportion to project area
 sold. Adjustments if required are made on completion of the respective
 projects.
 
 d) Interest and direct expenditure attributable to specific projects
 are capitalized in the cost of project, other interest and indirect
 costs are treated as ''Period Cost'' and charged to Profit & Loss account
 in the year in which it is incurred.
 
 e) Brokerage paid/ fallen due on Fixed Deposits is accounted during the
 year.
 
 f) Municipal Taxes are accounted for in the year of payment.
 
 g) All other incomes and expenditures except mentioned above are
 accounted for on accrual basis.
 
 7.  Retirement Benefits to employees
 
 Company''s contribution to Provident Fund and ESIC charged to profit and
 loss account on the actual liability basis.
 
 Provision for gratuity & Leave Encashment is determined on the
 actuarial valuation carried out at the balance sheet date in accordance
 with transitional provision of revised AS-15.
 
 8.  Taxation
 
 Income tax comprises current tax and deferred tax. Current tax is the
 amount payable as determined in accordance with the provisions of
 Income Tax Act, 1961. Provision for Income Tax is made after taking
 into consideration benefits admissible under the provisions of the
 Income Tax Act, 1961.Deferred tax resulting from timing difference
 between the book and the taxable profits is accounted for using the tax
 rates and law that are enacted or substantively enacted as on the
 balance sheet date. Deferred tax assets are recognised only to the
 extent there is reasonable certainty that the asset can be realised in
 the future. However if there is unabsorbed depreciation or carried
 forward loss under taxation laws, deferred tax assets are recognised
 only if there is virtual certainty of realisation of such assets.
 Deferred tax assets/liabilities are reviewed at each balance sheet
 date.
 
 9.  Investments
 
 Investments intended to be held for more than a year are classified as
 long term investments. All other investments are classified as current
 investments. Long term investments are stated at cost. However
 provision for diminution is made to recognize any decline, other than
 temporary, in the value of investments. Current investments are stated
 at lower of cost or market value on an individual investment basis.
 
 10.  Foreign Currency Transaction
 
 Transaction in foreign currency is recorded at exchange rate prevailing
 on the date of transaction. Monetary assets and liabilities denominated
 in foreign currency are translated at the exchange rate prevailing on
 the Balance sheet date and exchange difference on translation of
 monetary assets and liabilities and resultant gain or loss is
 recognized in the Profit & loss account.
 
 Non Monetary assets and liabilities are translated at the rate
 prevailing on the date of transaction.
 
 11.  Borrowing Cost
 
 The borrowing costs that are directly 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 its intended use. All other
 borrowing costs are charged to Profit & Loss account as an expense in
 the year in which they are incurred.
 
 12.  Impairment of Assets:
 
 The Company assesses at each balance sheet date whether there is any
 indication that an asset may suffer impairment loss. If any such
 indication exists, the Company estimates the recoverable amount of the
 asset or the recoverable amount of cash generating unit to which the
 assets belongs. Recoverable amount is the higher of an asset''s net
 selling price and value in use.  In assessing value in use, the
 estimated future cash flow expected from the continuing use of the
 asset and from its disposal is discounted to their present value using
 a pre-discount rate that reflect the current market assessment of the
 time value of money and risk specific to the asset. In case recoverable
 amount is less than its carrying amount then its carrying amount is
 reduced to its recoverable amount. The reduction is treated as an
 impairment loss and is recognized in the Profit and Loss Account. If at
 the Balance Sheet date there is an indication that if a previously
 assessed impairment loss no longer exists the recoverable amount is
 reassessed and the asset is reflected at the recoverable amount.
 
 13.  Provisions, Contingent Liabilities and Contingent Assets
 
 A) Provisions are recognized for liabilities that can be measured only
 by using a substantial degree of estimation if: -
 
 a) The Company has present obligation as a result of past event.
 
 b) A probable outflow of resources is expected to settle the obligation
 and the amount of obligation can be reliably estimated.  Provisions are
 determined based on management estimates required to settle the
 obligation at the balance sheet date.  These are reviewed at each
 balance sheet date and adjusted to reflect the current management
 estimates.
 
 B) Reimbursement expected in respect of expenditure required to settle
 a provision is recognized only when it is virtually certain that the
 reimbursement will be received.
 
 C) Contingent Liability is disclosed in the case of:
 
 a) A Present obligation arising from the past event, in case it is not
 probable that an outflow of resources will be required to settle the
 obligation.
 
 b) A Possible obligation, unless the probability of outflow of
 resources is remote.
 
 D) Contingent Assets are neither recognized nor disclosed.
 
 14.  Employee Stock Compensation Cost
 
 In respect of stock options granted by the Company, the intrinsic value
 of the options (excess of market price of the share on the date of
 grant over the exercise price of the option) is treated as deferred
 employee compensation cost and is amortized over the vesting period on
 straight line basis in accordance with SEBI guidelines in this regard.
 
 15.  Leases
 
 Lease arrangements, where risks and rewards incident to ownership of an
 asset substantially vest with the lessor are recognized as operating
 lease. Lease rentals in respect of operating lease arrangement are
 recognized as business income/expense in the profit and loss account as
 and when due in accordance with the terms of the related agreement.
 
 16.  Earning per share
 
 The earnings considered in ascertaining the Company''s Earnings Per
 Share (EPS) comprises the net profit after tax (and include the post
 tax effect of any extra ordinary items). The number of shares used in
 computing Basic EPS is the weighted average number of shares
 outstanding during the period / year. The number of shares used in
 computing Diluted EPS comprises of weighted average number of equity
 shares and dilutive potential equity shares outstanding during the
 period.
 
 17.  Segment Reporting
 
 Revenue and expenses have been identified to segments on the basis of
 their relationship to the operating activities of the segment. Revenue
 and expenses, which relate to the enterprise as a whole and are not
 allocable to segments on a reasonable basis, have been included under
 unallocated corporate expenditure.
 
 18.  Amalgamation Expenses
 
 Amalgamation expenses arising due to merger of Capital Homes Limited
 with the Company are being amortized over the period of five years.
 
 19.  Cash and Cash Equivalents
 
 The company considers all highly liquid financial instruments, which
 are readily convertible into cash and have original maturities of three
 months or less from the date of purchase, to be cash equivalent.