1.  Share capital
 
 (a) Issued, subscribed and paid-up share capital includes:
 
 (i) 5,877,850 equity shares of Rs. 2 each (originally 1,175,570 shares of
 Rs. 10 each) fully paid-up allotted pursuant to a Scheme of Amalgamation
 of DLF United Limited with the Company, without payment being received
 in cash.
 
 (ii) 1,338,603,595 equity shares of Rs. 2 each fully paid issued as bonus
 shares by way of capitalisation of free reserves and securities premium
 account.
 
 (b) Upon exercise of Options granted under the Employees Stock Option
 Scheme 2006 (ESOP), 180,904 (Previous year 240,457) equity shares of Rs.
 2 each were issued at par during the year.
 
 (c) Pursuant to the above mentioned transaction the paid-up share
 capital of the Company increased by Rs. 3.62 lacs, during the year
 (Previous year: increase by Rs. 4.08 lacs).
 
 2.  Secured loans
 
 a) Facilities with banks comprise, term loans and overdraft facilities
 which are secured by equitable mortgages of certain freehold and
 leasehold lands/ properties of the Company/subsidiary companies/
 sellers/lessors, land under agreement to sell and/ or against future
 receivables of the Company/subsidiary companies.
 
 b) Loan from others comprise of term loans from financial institutions
 which are secured by equitable mortgages of certain lands/ properties
 of some subsidiary entities/ associates/ group companies and the
 receivables and/ or against future receivables of the Company/
 subsidiary companies.
 
 c) Loans for aircraft, helicopter and vehicles are secured by
 hypothecation of the respective assets, thus purchased.
 
 d) i) 5,000 (previous year 5,000), 13.70%
 
 Non-Convertible Redeemable
 
 Debentures of face value of Rs.1,000,000/- each and 7,200 (previous year
 7,200), 14% Non- Convertible Redeemable Debentures of face value of Rs.
 1,000,000/- each, issued to the Life Insurance Corporation of India are
 secured by pari passu charge over certain lands / properties of the
 Company / subsidiary companies.
 
 ii) 3,000 (previous year 3,000), 10% Non- Convertible Redeemable
 Debentures of Rs. 1,000,000/- each and 7,000 (previous year 7,000),
 10.50% Non- Convertible Redeemable Debentures of Rs. 1,000,000/- each,
 issued to various investors are secured by pari passu / exclusive
 charge over certain lands / properties of the Company / subsidiary
 companies.
 
 iii) 1,500 (previous year Nil), 10.24% Non-Convertible Redeemable
 
 Debentures of Rs. 1,000,000/- each, 1500 (previous year Nil), 10.24% Non-
 Convertible Redeemable Debentures of Rs. 1,000,000/- each and 2,000
 (previous year Nil), 10.24% Non Convertible Redeemable Debentures of Rs.
 1,000,000/- each, issued to Bank of India are secured by pari passu
 charge over certain lands/ properties of the Company/subsidiary
 companies.
 
 iv) The Company has transferred Rs. 74,600.00 lacs to the debenture
 redemption reserve in respect of outstanding debentures for the year
 ended March 31, 2011 in line with the provisions of the Companies Act,
 1956.
 
 e) Loans due within one year Rs. 274,605.12 lacs (previous year Rs.
 93,914.70 lacs).
 
 3.  Unsecured loans
 
 Loans due within one year Rs. 35,884.73 lacs (previous year Rs. 100,000.00
 lacs).
 
 6 a) The profit/loss from sale of land / developed plots/constructed
 properties in DLF City, Gurgaon (Complex) is accounted as per revenue
 recognition policy 7 stated in Schedule 24 – Significant accounting
 policies. The Complex comprises lands owned by the Company as also
 those under agreements to purchase entered into with subsidiary/
 coordinating companies.  In terms of such agreements, the Company has
 purchased (2.70) lacs sq. mts. of plotted area during the year
 (previous year 3.32 lacs sq. mts.) from the land owning companies at
 the average cost of land to the Company and/ or the land owning
 companies. The average estimated internal development costs and
 external development charges, in respect of the plots sold have been
 written off in terms of accounting policy 9 stated in Schedule 24 –
 Significant accounting policies. Final adjustment, if any, is made on
 completion of the applicable scheme/ project.
 
 b) The profit/ loss from sale of agricultural land comprising land
 owned by the Company and its subsidiary/ coordinating companies,
 covered under agreement to sell the land to the Company is accounted
 for on execution of the sale agreements in favour of the customers.
 During the year the Company has purchased Nil acres of land (previous
 year 2.32 acres) from the land owning companies, consequent to
 registration of the sale deeds/ transfer of ownership in favour of the
 customers at the average cost of land to the Company and/ or the land
 owning companies.
 
 c) In terms of the agreement with DLF Home Developers Limited (earlier
 DLF Housing and Construction Limited, since merged with DLF Home
 Developers Limited), and Mayur Recreational and Development Limited,
 since merged with the DLF Building & Services Private Limited, the
 Company has agreed to develop their lands along with its own lands at
 Loni (Ankur Vihar) into a colony. In terms of the said agreement, the
 Company is entitled to realise and retain the entire sale proceeds and
 pay the cost of land, incidentals etc. plus a sum of Rs. 0.10 lacs per
 acre to the aforesaid land owners on registration of the properties and
 revenue is recognised on proportionate realisation basis.
 
 d) In respect of Dilshad Garden II Scheme, the profit/loss on sale of
 developed plots is accounted by adjusting cost proportionate to the
 realisations made.
 
 e) The Company on November 3, 2006 has entered into an agreement to
 sell in terms of the resolution passed by the Board of Directors in
 their meeting held on March 28, 2006, with one of its wholly owned
 subsidiary company namely, DLF Home Developers Limited (DHDL) to sell
 a parcel of land of saleable area consisting 30 million sq.  ft built
 up area under construction / to be constructed. Further, DHDL will
 complete all the finishing work before selling the same to its
 customers.  In terms of the accounting policy 7(a) in Schedule 24 –
 Significant accounting policies to the financial statements on
 revenue recognition, revenue in respect of projects under
 implementation under these agreements to sell is being recognised based
 on percentage of completion method.
 
 7. The Company has entered into business development agreements with
 DLF Commercial Project Corporation and Rational Builders and Developers
 (partnership firms).  As per these agreements, the Company has acquired
 sole irrevocable development rights in identified lands which are
 acquired / or in the process of acquisition by these partnership firms.
 
 In terms of accounting policy 6 in Schedule 24 – Significant
 accounting policies the amount paid to these partnership firms
 pursuant to the above agreements, are classified as stock of
 development rights.
 
 10.  Related party disclosures a) Relationship:
 
 (i) Subsidiary companies at any time during the year
 
 1 Aadarshini Real Estate Developers Private Limited
 
 2 Abhigyan Builders & Developers Private Limited ( w.e.f. November 10,
 2010)
 
 3 Abhiraj Real Estate Private Limited
 
 4 Adelie Builders & Developers Private Limited
 
 5 Adeline Builders & Developers Private Limited ( w.e.f. December 7,
 2010)
 
 6 Adrienne Builders & Constructions Private Limited ##
 
 7 Alastair Builders & Developers Private Limited ##
 
 8 Alta Builders & Developers Private Limited
 
 9 Alvernia Limited
 
 10 Alvita Builders & Developers Private Limited
 
 11 Aman Gocek Insatt Taahhut Turizm Sanayi ve Ticaret AS
 
 12 Amancruises (2006) Company Limited
 
 13 Amancruises Company Limited
 
 14 Amankila Resorts Limited
 
 15 Amanproducts Limited
 
 16 Amanresorts B.V.
 
 17 Amanresorts International Pte Limited
 
 18 Amanresorts IPR B.V
 
 19 Amanresorts Limited
 
 20 Amanresorts Limited
 
 21 Amanresorts Management BV
 
 22 Amanresorts Services Limited
 
 23 Amanresorts Technical Services B.V
 
 24 Americus Real Estate Private Limited
 
 25 Amishi Builders & Developers Private Limited
 
 26 Amoda Builders & Developers Private Limited ##
 
 27 Amon Builders & Developers Private Limited ( till December 3, 2010)
 ++
 
 28 Anbest Holdings Limited
 
 29 Andaman Development Company Limited
 
 30 Andaman Holdings Limited
 
 31 Andaman Resorts Co. Limited
 
 32 Andaman Thai Holding Co. Limited
 
 33 Andes Resort Limited SAC
 
 34 Anjuli Builders And Developers Private Limited ####
 
 35 Annabel Builders & Developers Private Limited
 
 36 Aradal Company N.V.
 
 37 Argent Holdings Limited
 
 38 Ariadne Builders & Developers Private Limited ( w.e.f. September 9,
 2010)
 
 39 ARL Marketing Inc.
 
 40 ARL Marketing Limited
 
 41 Armand Builders & Constructions Private Limited ( w.e.f. December 7,
 2010)
 
 42 ASL Management (Palau) Limited
 
 43 Baakir Real Estates Private Limited ( w.e.f. September 6, 2010)
 
 44 Balaji Highways Holding Private Limited (w.e.f. May 15, 2010 )
 
 45 Balina Pansea Company Limited
 
 46 Barbados Holdings Limited
 
 47 Bedelia Builders & Construction Private Limited
 
 48 Benedict Estates Developers Private Limited ( w.e.f. November 10,
 2010)
 
 49 Berenice Real Estate Private Limited
 
 50 Beverly Park Maintenance Services Limited
 
 51 Bhamini Real Estate Developers Private Limited
 
 52 Bhoruka Financial Services Limited
 
 53 Bhosphorous Investments Limited
 
 54 Bhutan Hotels Limited
 
 55 Bodrum Development Limited
 
 56 Breeze Constructions Private Limited
 
 57 Butan Resorts Private Limited (Amankora)
 
 58 Cachet Real Estates Private Limited ( w.e.f. December 7, 2010)
 
 59 Calantha Builders & Developers Private Limited ####
 
 60 Callista Builders & Constructions Private Limited ##
 
 61 Calvine Builders & Constructions Private Limited ( w.e.f. December
 7, 2010)
 
 62 Caraf Builders & Constructions Private Limited
 
 63 Careen Builders & Developers Private Limited (till October 31, 2010)
 
 64 Caressa Builders & Constructions Private Limited ####
 
 65 Catriona Builders & Constructions Private Limited
 
 66 Cee Pee Maintenance Services Limited
 
 67 Ceylon Holdings B.V.
 
 68 Chakradharee Estates Developers Private Limited (w.e.f. November 10,
 2010)
 
 69 Chandrojyoti Estate Developers Private Limited
 
 70 City Icon Limited (till April 27, 2010) ++
 
 71 Colombo Resort Holdings N.V
 
 72 Comfort Buildcon Private Limited
 
 73 Current Finance Limited
 
 74 Cyrilla Builders & Constructions Limited
 
 75 Dae Real Estates Private Limited (w.e.f. November 10, 2010)
 
 76 Dalmia Promoters & Developers Private Limited
 
 77 Dankuni World City Limited
 
 78 Delanco Home & Resorts Private Limited
 
 79 Delanco Real Estate Private Limited (w.e.f. December 16, 2010)
 
 80 Delanco Realtors Private Limited
 
 81 Deltaland Buildcon Private Limited
 
 82 Deltaland Real Estate Private Limited (w.e.f. December 7, 2010)
 
 83 DHDL Wind Power Private Limited (Formerly Var Infratech Private
 Limited)
 
 84 Dhoomketu Builders & Developers Private Limited
 
 85 Digital Talkies Private Limited (w.e.f. October 29, 2010)
 
 86 Diwakar Estates Limited
 
 87 DLF Ackruti Info Parks (Pune) Limited (Formerly DLF Akruti Info
 Parks (Pune) Limited)
 
 88 DLF Aspinwal Hotels Private Limited
 
 89 DLF Assets Private Limited
 
 90 DLF Brands Limited (till October 31, 2010)
 
 91 DLF Business Hotels Ventures Private Limited (till September 29,
 2010) ++
 
 92 DLF City Centre Limited
 
 93 DLF City Centre Limited (till April 27, 2010) ++
 
 94 DLF Cochin Hotels Private Limited
 
 95 DLF Comfort Hotels Private Limited
 
 96 DLF Commercial Complexes Limited ##
 
 97 DLF Commercial Developers Limited
 
 98 DLF Construction Limited (Formerly DLF Projects Limited )
 
 99 DLF Cyber City Developers Limited
 
 100 DLF Developers Limited
 
 101 DLF Emporio Restaurants Limited
 
 102 DLF Estate Developers Limited
 
 103 DLF Exotica Hotels Private Limited ++
 
 104 DLF Financial Services Limited
 
 105 DLF Finvest Limited
 
 106 DLF Food Courts Private Limited ##
 
 107 DLF Garden City Indore Private Limited
 
 108 DLF Global Hospitality Limited
 
 109 DLF Golf Resort Limited
 
 110 DLF Gurgaon Developers Limited (Formerly DLF SEZ Holdings Limited)
 
 111    DLF Haryana SEZ (Ambala) Limited
 
 112    DLF Haryana SEZ (Gurgaon) Limited
 
 113    DLF Hilton Hotels (Mysore) Private Limited
 
 114    DLF Home Developers Limited
 
 115    DLF Home Services Private Limited
 
 116    DLF Homes Ambala Private Limited
 
 117    DLF Homes Durgapur Private Limited ####
 
 118    DLF Homes Goa Private Limited
 
 119    DLF Homes Kokapet Private Limited
 
 120    DLF Homes Panchkula Private Limited
 
 121    DLF Homes Pune Private Limited
 
 122    DLF Homes Rajapura Private Limited
 
 123    DLF Hospitality & Recreational Limited
 
 124    DLF Hotel Holdings Limited
 
 125    DLF Hotels & Apartments Private Limited
 
 126    DLF Hotels & Hospitality Limited
 (Formerly DLF Hilton Hotels Limited)
 
 127    DLF Housing & Construction Limited ####
 
 128    DLF India Limited (Formerly DLF Universal Limited)
 
 129    DLF Info City Developers (Chandigarh) Limited
 
 130    DLF Info City Developers (Chennai) Limited
 
 131    DLF Info City Developers (Kolkata) Limited
 
 132    DLF Info Park Developers (Chennai) Limited
 
 133    DLF Infra Holding Limited ####
 
 134    DLF Inns Limited
 
 135    DLF International Holdings Pte Limited
 
 136    DLF International Hospitality Corp
 
 137    DLF Jaipur Convention Center Private Limited
 (till September 29, 2010) ++
 
 138    DLF Land Limited ####
 
 139    DLF Luxury Hotels Limited
 
 140    DLF Metro Limited
 
 141    DLF New Delhi Convention Center Limited
 
 142    DLF New Gurgaon Homes Developers Private Limited
 
 143    DLF New Gurgaon Offices Developers Private Limited
 
 144    DLF New Gurgaon Retail Developers Private Limited
 
 145    DLF Phase IV Commercial Developers Limited
 
 146    DLF Pramerica Life Insurance Company Limited
 
 147    DLF Premium Homes Private Limited ####
 
 148    DLF Projects Limited (Formerly DT Projects Limited )
 
 149    DLF Property Developers Limited
 
 150    DLF Real Estates Builders Limited
 
 151    DLF Recreational Foundation Limited
 
 152    DLF Residential Builders Limited
 
 153    DLF Residential Developers Limited
 
 154    DLF Residential Partners Limited
 
 155    DLF Retail Services Limited ##
 
 156    DLF Service Apartments Limited
 
 157    DLF Services Limited (till October 12, 2010) ###
 
 158    DLF SEZ Developers Limited ####
 
 159    DLF Southcourt Hotels Private Limited
 (till September 29, 2010) ++
 
 160    DLF Southern Homes Private Limited
 
 161    DLF SouthernTowns Private Limited
 
 162    DLF Telecom Limited
 
 163    DLF Trust Management Pte Limited
 
 164    DLF Universal Limited
 
 (Formerly DLF Retail Developers Limited)
 
 165    DLF Utilities Limited
 
 166    DLF Wind Power Private Limited (Formerly Bestvalue
 Housing & Construction Private Limited)
 
 167    Domus Real Estates Private Limited
 (w.e.f. December 16, 2010)
 
 168    Domus Realtors Private Limited
 (w.e.f. December 7, 2010)
 
 169    DT Cinemas Limited (till October 12, 2010) ###
 
 170    Eastern India Powertech Limited
 
 171    Edward Keventer(Successors) Private Limited
 
 172    Eila Builders & Developers Private Limited
 
 173    Elvira Builders & Constructions Private Limited
 ( w.e.f. December 7, 2010)
 
 174    Enki Retail Private Limited (till October 31, 2010)
 
 175    Eros Retail Private Limited (till October 31, 2010)
 
 176    Falguni Builders Private Limited
 
 177    Faye Builders & Constructions Private Limited
 (w.e.f. December 7, 2010)
 
 178    First City Real Estate Private Limited
 (w.e.f. December 7, 2010)
 
 179    Flora Real Estate Private Limited
 (w.e.f. December 7, 2010)
 
 180    Fonton Limited
 
 181    Forerum Group Limited
 
 182    Galaxy Mecantiles Limited
 
 183    Galleria Property Management Services Private Limited
 
 184    Ganika Builders Private Limited
 
 185    Gavin Builders & Developers Private Limited ##
 
 186    Geocities Airport Infrastructures Private Limited
 
 187    Goyo Services Limited
 
 188    Guardian International Private Limited
 
 189    Gulika Home Developers Private Limited
 
 190    Gulliver Enterprises Limited
 
 191    Gyan Real Estate Developers Private Limited
 
 192    Hansel Builders & Developers Private Limited (w.e.f.
 December 7, 2010)
 
 193    Heritage Resorts Private Limited
 
 194    Hiemo Builders & Developers Private Limited
 
 195    Highvalue Builders Private Limited
 
 196    Hospitality Tradings Limited
 
 197    Hotel Finance International Limited
 
 198    Hotel Sales Service Limited
 
 199    Hotel Sales Service Private Limited
 
 200    Hyacintia Real Estate Developers Private Limited
 (w.e.f. September 9, 2010)
 
 201    Incan Valley Holdings Limited
 
 202    Irving Builders & Developers Private Limited
 (w.e.f.December 7, 2010)
 
 203    Isabel Builders & Developers Private Limited
 
 204    Ishayu Builders & Developers Private Limited
 (till December 3, 2010) ++
 
 205    Jackson Hole Holdings Limited
 
 206    Jai Luxmi Real Estate Private Limited
 
 207    Jalisco Holdings Pte Limited
 
 208    Janya Estate Developers Private Limited ####
 
 209    Jawala Real Estate Private Limited
 
 210    Juno Retail Private Limited (till October 31, 2010)
 
 211    K G Infrastructure Private Limited
 
 212    Kairav Real Estate Private Limited ####
 
 213    Kapo Retail Private Limited (till October 31, 2010)
 
 214    Khem Buildcon Private Limited
 
 215    L P Hospitality Company Limited
 
 216    Lada Estates Private Limited (w.e.f. December 7, 2010)
 
 217    Laman Real Estate Private Limited
 
 218    Lao Holdings Limited
 
 219    Lawanda Builders & Developers Private Limited
 
 220    Le Savoy Limited
 
 221    Leandra Builders & Developers Private Limited ##
 
 222    Lear Builders & Developers Private Limited
 (w.e.f. December 7, 2010)
 
 223    Lempo Buildwell Private Limited
 (w.e.f. December 7, 2010)
 
 224    Liber Buildwell Private Limited
 (w.e.f. December 7, 2010)
 
 225    Lizebeth Builders & Developers Private Limited
 (w.e.f. November 10, 2010)
 
 226    Lodhi Property Company Limited
 
 227    Mariposa Builders & Developers Private Limited
 (w.e.f. December 7, 2010)
 
 228    Marrakech Investments Limited
 
 229    Melosa Builders & Developers Private Limited
 (w.e.f. December 7, 2010)
 
 230    Mens Buildcon Private Limited
 
 231    Mhaya Buildcon Private Limited
 
 232    Monroe Builders & Developers Private Limited
 
 233    Mulvey B.V
 
 234    Mulvey Venice Sri
 
 235    Naman Consultants Limited
 
 236    Nambi Buildwell Private Limited
 
 237    Necia Builders & Developers Private Limited ##
 
 238    Nellis Builders & Developers Private Limited
 
 239    NewGen MedWorld Hospitals Limited
 
 240    Nilayam Builders & Developers Limited
 
 241    NOH (Hotel) Private Limited
 
 242    Nusantara Island Resorts Limited
 
 243    Otemachi Tower Resorts Co. Limited
 
 244    Overseas Hotels Limited
 
 245    P.T. Amanresorts Indonesia
 
 246    P.T. Amanusa Resort Indonesia
 
 247    P.T. Indrakila Villatama Development
 
 248    P.T. Moyo Safari Abadi
 
 249    P.T. Nusantara Island Resorts
 
 250    P.T. Tirta Villa Ayu
 
 251    P.T. Villa Ayu
 
 252    Palawan Holdings Limited
 
 253    Paliwal Developers Limited
 
 254    Paliwal Real Estate Private Limited
 
 255    PAT Infrastructures Private Limited ##
 
 256    Pee Tee Property Management Services Limited
 
 257    Penthea Builders & Developers Private Limited
 (w.e.f. November 10, 2010)
 
 258    Philana Builders & Developers Private Limited
 (w.e.f. November 10, 2010)
 
 259    Phoena Builders & Developers Private Limited
 (w.e.f. November 10, 2010)
 
 260    Phraya Riverside (Bangkok) Co. Limited
 
 261    Princiere Resorts Limited
 
 262    Prompt Real Estate Private Limited
 
 263    Puri Limited
 
 264    Pyrite Builders & Constructions Private Limited
 (w.e.f. December 7, 2010)
 
 265    Qabil Builders & Constructions Private Limited
 (w.e.f. December 7, 2010)
 
 266    Queensdale Management Limited
 
 267    Rachelle Builders & Constructions Private Limited (w.e.f.
 December 7, 2010)
 
 268    Rati Infratech Private Limited
 
 269    Red Acres Development Limited
 
 270    Regency Park Property Management Services Private
 Limited
 
 271    Regent Asset Finance Limited
 
 272    Regent Land Limited
 
 273    Regional Design & Research B.V
 
 274    Regional Design & Research N.V
 
 275    Reha Retail Private Limited (till October 31, 2010)
 
 276    Richmond Park Property Management Services Limited
 
 277    Riveria Commercial Developers Limited
 
 278    Rochelle Builders & Constructions Private Limited (w.e.f.
 December 7, 2010)
 
 279    Rod Retail Private Limited (till October 31, 2010)
 
 280    Royalton Builders & Developers Private Limited
 (w.e.f. December 7, 2010)
 
 281    Saguna Builders & Developers Private Limited
 (w.e.f. December 7, 2010)
 
 282    Saket Holiday Resorts Private Limited
 
 (Formerly Saket Courtyard Hospitality Private Limited )
 
 283    Samali Builders & Developers Private Limited ####
 
 284    Serendib Holdings B.V.
 
 285    Shakirah Real Estates Private Limited
 (Formerly DLF Pleasure Hotels Private Limited )
 
 286    Shivajimarg Properties Limited
 
 287    Silver - Two (Bangkok) Company Limited
 
 288    Silver Oaks Property Management Services Limited
 
 289    Silverlink (Mauritius) Limited
 
 290    Silverlink (Thailand) Company Limited
 
 291    Silverlink Resorts Limited
 (Formerly Silverlink Holdings Limited)
 
 292    Sinonet Holding Limited
 
 293    Societe Nouvelle de LHotel Bora Bora
 
 294    Solid Buildcon Private Limited ####
 
 295    Springhills Infratech Private Limited
 
 296    Sunlight Promoters Private Limited
 
 297    Tahitian Resorts Limited
 
 298    Tangalle Property Private Limited
 
 299    Toscano Holdings Limited
 
 300    Triumph Electronics Private Limited
 
 301    Universal Hospitality Limited
 
 302    Urvasi Infratech Private Limited
 
 303    Valini Builders & Developers Private Limited
 
 304    Vibodh Developers Private Limited
 (w.e.f. November 10, 2010)
 
 305    Vilina Estate Developers Private Limited
 (w.e.f. December 7, 2010)
 
 306    Villajena Development Company Limited
 
 307    Vinanti Builders & Developers Private Limited
 (w.e.f. December 7, 2010)
 
 308    Vkarma Capital Investment Management Company
 Private Limited
 
 309    Vkarma Capital Trustee Company Private Limited
 
 310    VSK Investment & Finance Limited #
 
 311    Wagishwari Estates Private Limited
 (till December 3, 2010) ++
 
 312    Webcity Builders & Developers Private Limited
 (w.e.f. November 10, 2010)
 
 313    Yucatan Holdings Pte Limited
 
 314    Zeugma Limited
 
 315    Zola Real Estate Private Limited
 
 316    Zoria Infratech Private Limited
 
 317    Norman Cays Holdings Limited
 
 (ii)   Partnership firms
 
 1    DLF Commercial Projects Corporation
 
 2    DLF Office Developers
 
 3    DLF South Point
 
 4    Kavicon Partners
 
 5    Rational Builders and Developers
 
 6    DLF GK Residency
 
 7    Saket Courtyard Hospitality
 
 8    DLF Green Valley (w.e.f. December 31, 2010)
 
 (iii)   Joint Ventures
 
 1    Star Alubuild Private Limited
 
 2    Delanco Real Estates Private Limited
 (till December 15, 2010)
 
 3    Kujjal Builders Private Limited
 
 4    DLF Gayatri Home Developers Private Limited
 
 5    DLF SBPL Developer Private Limited
 
 (iii)    Joint Ventures (Contd.)
 
 6    DLF Limitless Developers Private Limited
 
 7    Mount Mary Residential Project
 
 8    GSG DRDL Consortium
 
 9    Y.G. Realty Private Limited
 
 10    Design Plus Architecture Private Limited
 ( w.e.f. December 7, 2010)
 
 11    Banjara Hills Hyderabad Complex
 
 12    Saket Courtyard Hospitality
 
 13    Domus Real Estate Private Limited
 (till December 15, 2010)
 
 14    Cleva Builders and Developers Private Limited
 
 15    Prowess Buildcon Private Limited
 
 (iv)   Associates
 
 1    Australian Resorts Limited
 
 2    Ferragamo Retail India Private Limited
 (till October 31, 2010)
 
 3    Giorgio Armani India Private Limited
 (till October 31, 2010)
 
 4    Islan Aviation Limited
 
 5    Joyous Housing Limited
 
 6    Kyoto Resorts YK
 
 7    P.T Jawa Express Amanda Indah
 
 8    Pamalican Island Holdings Inc
 
 9    Pandis (Thailand) Company Limited
 
 10    Pansea Tourism Company Limited
 
 11    Regional D & R Limited
 
 12    Revlys SA
 
 13    Seven Seas Resorts and Leisure Inc
 
 14    Surin Bay Co. Limited
 
 15    Villajena
 
 16    Zeus Infrastructure Private Limited
 
 17    Rapid Rail Metro Gurgaon Limited (w.e.f. May 27, 2010)
 
 # Pursuant to the Order of the Honourable High Court of Delhi by virtue
 of Scheme of Arrangement, the said entity has been merged with DLF Real
 Estate Builders Limited.  Accordingly, transactions with the said
 entity during the year ended March 31, 2011 and balance outstanding
 thereto on that date have been disclosed as transactions with and
 balances outstanding to as the case may be, DLF Real Estate Builders
 Limited during the year ended and as of March 31, 2011.
 
 ## Pursuant to the Order of the Honourable High Court of Delhi by
 virtue of Scheme of Arrangement, the said entities have been merged
 with DLF Universal Limited (Formerly DLF Retail Developers Limited).
 Accordingly, transactions with the said entities during the year ended
 March 31, 2011 and balance outstanding thereto on that date have been
 disclosed as transactions with and balances outstanding to as the case
 may be, DLF Universal Limited (Formerly DLF Retail Developers Limited)
 during the year ended and as of March 31, 2011.
 
 ### Pursuant to the Order of the Honble High Court of Punjab and
 Haryana at Chandigarh by virtue of scheme of arrangement, the said
 entities have been merged with DLF Utilities Limited.  Accordingly,
 transactions with the said entities during the year ended March 31,
 2011 and balance outstanding thereto on that date have been disclosed
 as transactions with and balances outstanding to as the case may be,
 DLF Utilities Limited during the year ended and as of March 31, 2011.
 
 #### Pursuant to the Order of the Honble High Court of Delhi and the
 Honble High Court of Punjab & Haryana by virtue of Scheme of
 Arrangement, the said entities have been merged with DLF Home
 Developers Limited. Accordingly, transactions with the said entities
 during the year ended March 31, 2011 and balance outstanding thereto on
 that date have been disclosed as transactions with and balances
 outstanding to as the case may be, DLF Home Developers Limited during
 the year ended and as of March 31, 2011.
 
 ++ Company already wound up u/s 560, Registrar of Companies approval
 awaited.
 
 16. a) The Company uses forward contracts and Swaps to hedge its risks
 associated with fluctuations in foreign currency and interest rates.
 The use of Forward contracts and Swaps is covered by Companys overall
 strategy. The Company does not use forward covers and Swaps for
 speculative purposes.  As per the strategy of the Company, foreign
 currency loans are covered by comprehensive hedge, considering the
 risks associated with the hedging of such loans, which effectively
 fixes the principal and interest liability of such loans and further
 there is no additional risk involved post hedging of these loans.
 
 17.  Contingent liabilities, not provided for, exist in respect of :
 
                                                   (Rs. in lacs)
 
                                              2011          2010
 
 a) Guarantees issued by the Company on 
 behalf of :
 
 Subsidiary companies                    901,156.09     626,456.09
 
 Others                                   13,005.93      13,005.93
 
 b) Claims against the Company (including 
 unasserted claims) not acknowledged 
 as debts                                 13,001.41      13,778.33
 
 c) Income tax demand in excess of 
 provisions (pending in appeals)          71,855.86      50,992.28
 
 d) Undertaki ng to buy back preference shares in subsidiary/ associate
 companies -- 186,629.82 28. (a) Wind mill projects of the Company are
 entitled for tax holiday under section 80-IA of the Income tax Act,
 1961. Accordingly, the computation of tax (current and deferred) has
 been done as per Accounting Standard 22 Accounting for taxes on
 Income issued by the ICAI.
 
 (b) The Companys profits from Special Economic Zone (SEZ) business
 are exempt under section 80- IAB of the Income Tax Act, 1961 and the
 dividend declared out of such SEZ profits are exempt from Dividend
 Distribution Tax under the provisions of section 115-O(6) of the Income
 tax Act, 1961.
 
 In line with the above provisions, the Company has not provided the
 dividend Tax since the dividend has been declared out of non SEZ
 profits and after adjustment of the dividend received from its wholly
 owned subsidiary company in terms of provisions of section 115-O(1A)(i)
 of the Income tax Act, 1961.
 
 29.  Income Tax and other matters
 
 a) Subsequent to the year ended March 31, 2011, the Company received an
 assessment order for A.Y.  2008-2009 from the Income Tax Authorities,
 creating an additional demand of Rs. 54,684.97 lacs, out of which, Rs.
 48,723.00 lacs pertains to demand on account of disallowance of SEZ
 profit u/s 80IAB of Income Tax Act. The Company is challenging the
 order with the appropriate authorities.
 
 Based on the advice from independent tax experts, the Company is
 confident that the additional demand so created will not be sustained.
 Pending of the order of the appellate authorities no provision has been
 made in the financial statements.
 
 b) On March 25, 2011, the Company received Appellate Order from CIT
 (Appeals) in respect of the A.Y. 2006-2007. As per this appeal order,
 the Appellate authority has given significant relief under the various
 items resulting reducing the demand from Rs. 48,274.34 lacs to Rs. 7,314.24
 lacs.
 
 The Company has further filed an appeal before the ITAT, Delhi against
 the appellates order for the remaining demand of Rs.7,314.24 lacs.
 
 Based on the advice from independent tax experts, the Company is
 confident that this balance demand of Tax will also not be sustained by
 the appellate authorities. Pending the order of ITAT, no provision has
 been made in the financial statements.
 
 c) During the year ended March 31, 2011, the Company received a
 judgement from the Honble High Court of Punjab and Haryana cancelling
 the release / sale deed of land relating to IT SEZ project in Gurgaon.
 The Company has filed Special Leave petitions, challenging the order in
 the Honble Supreme Court of India.
 
 Based on the advice of the independent legal counsel, the Company has a
 reasonably strong likelihood of succeeding before the Honble Supreme
 Court. Pending the final decision on the matter; no adjustment has been
 done in these financial statements.
 
 30.  Based on the information available with the Company, there are no
 dues outstanding in respect of Micro, Small and Medium enterprises at
 the balance sheet date. No amounts were payable to such enterprises
 which were outstanding for more than 45 days. Further, no interest
 during the year has been paid or payable in respect thereof. The above
 disclosure has been determined to the extent such parties have been
 identified on the basis of information available with the Company. This
 has been relied upon by the auditors.
 
 31.  Previous year figures have been regrouped/ recast wherever
 considered necessary to make them comparable with those of the current
 year.