i.  Basis of Accounting
 
 The financial statements are prepared to comply in all material aspects
 with Indian Accounting Standards as notified by the Companies
 (Accounting Standards) Rules, 2006 issued by the Central Government in
 exercise of power conferred under section 642(1)(a) and the relevant
 provisions of the Companies Act, 1956. The financial statements have
 been prepared under the historical cost convention on accrual basis.
 The accounting policies have been consistently applied by the Company
 and are consistent with those used in the previous year.
 
 ii.  Presentation and disclosure of financial statements
 
 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 these financial statements.
 However, it has significant impact on presentation and disclosures made
 in the financial statements. The company has also reclassified the
 previous year figures in accordance with the requirements applicable in
 the current year.
 
 iii. Use of Estimates
 
 The preparation of financial statements in conformity with the
 Generally Accepted Accounting Principles requires management to make
 estimates and assumptions that affect the reported amounts of assets
 and liabilities and the disclosure of contingent liabilities on the
 date of the financial statements. Actual results could differ from
 those estimates. Any revision to accounting estimates is recognized
 prospectively in current and future periods.
 
 iv.  Fixed Assets
 
 Fixed assets are stated at historical cost less accumulated
 depreciation. Cost includes purchase price and all other attributable
 cost to bring the assets to its working condition for the intended use.
 
 v.  Depreciation
 
 Depreciation has been provided on straight line method at the rates
 prescribed under Schedule XIV to the Companies Act, 1956 on pro-rata
 basis.
 
 Assets costing below Rs. 5000 are written off in the year of purchase.
 
 vi.  Impairment of Assets
 
 The Company assesses at each balance sheet date whether there is any
 indication that an asset may be impaired. If any such indication
 exists, the Company estimates the recoverable amount of the asset. If
 such recoverable amount of the asset or the recoverable amount of the
 cash- generating unit to which the asset belongs is less than its
 carrying amount, the carrying amount is reduced to its recoverable
 amount. The reduction is treated as an impairment loss and is
 recognized in the statement of profit and loss.
 
 vii. Inventories Inventories are valued as under:
 
 Building Materials, Stores and Consumables are valued at lower of cost,
 where cost is determined on first in first out basis.
 
 Land Unsold Shops, Flats etc., are valued at lower of cost or net
 realizable value.
 
 Construction Project in Progress is valued at cost and consists of all
 direct expenditure incurred on projects under execution on which no
 income has been recognised in accordance with the percentage of
 completion method of accounting.
 
 Completed real estate proj ect for sale and trading stock are valued at
 lower of cost or net realizable value.
 
 Tools, Implements and Wooden Shuttering Materials are written off in
 the year of purchase.
 
 viii.  Investments
 
 Long term investments are stated at cost less permanent diminution, if
 any, in value of such investments.
 
 ix.  Revenue Recognition
 
 A.  Real Estate Projects
 
 a.  The Company follows the Percentage of Completion Method (POC) of
 Accounting. As per this method, the revenue in the Statement of Profit
 and Loss at the end of the accounting year is recognized in proportion
 to the actual cost incurred as against the total estimated cost of
 projects under execution with the Company subject to actual cost being
 30% or more of the total estimated cost.
 
 b.  The stage of completion under the POC method is measured on the
 basis of percentage that actual costs incurred on real estate projects
 including land, construction and development cost bears to the total
 estimated cost of the project. The estimates of the projected revenues,
 projected profits, projected costs, cost to completion and the
 foreseeable loss are reviewed periodically by the management and any
 effect of changes in estimates is recognized in the period in which
 such changes are determined.
 
 c.  Surrender of flats by buyers are valued at cost and accounted for
 as ''Cost of Construction''. When sold, proceeds are treated as
 ''Sales''.
 
 d.  Repair, maintenance and other costs incurred after the completion
 of the project are charged to the cost of construction in the year in
 which cost is incurred.
 
 e.  Interest due on delayed payments by customers is accounted on
 receipt basis due to uncertainty of recovery of the same.
 
 B.  Income from Construction Contracts
 
 a.  Revenue from construction contracts is recognized on the
 Percentage of Completion Method of accounting.
 
 b.  Income from Construction contracts is recognized by reference to
 the stage of completion of the contract activity as certified by the
 client.
 
 c.  Revenue on account of contract variations, claims and incentives
 are recognized upon determination or settlement of the contract.
 
 x.  Turnover
 
 The Management is consistent with the past practice in treating the
 value of work done as sales turnover.  The value of work done has been
 arrived at after adding the estimated profits to the expenditure
 incurred on projects each year, subject to final accounting on the
 actual completion of the project, and is net of adjustments for losses
 and/or variations in turnover on final accounting of completed projects
 or revision of estimates.
 
 xi.  Retirement and Other Benefits
 
 i) Short-term employee benefits are recognized as an expense at the
 undiscounted amount in the Statement of Profit & Loss of the year in
 which the employee has rendered services.
 
 ii) Post employment benefits are recognized as an expense in the
 Statement of Profit & Loss for the year in which the employee has
 rendered services.  The expense is recognized at the present value of
 the
 
 amount payable towards contributions. The present value is determined
 using market yields of government bonds, at the balance sheet date, as
 the discounting rate.
 
 iii) Other long term employee benefits are recognized as an expense in
 the Statement of Profit & Loss for the year in which the employee has
 rendered services. Estimated liability on account of long term benefits
 is discounted to the present value using the market yield on government
 bonds as on the date of balance sheet.
 
 iv) Actuarial gains and losses in respect of post employment and other
 long term benefits are charged to the Statement of Profit & Loss.
 
 xii. Accounting for taxes on income
 
 The accounting treatment followed for taxes on income is to provide for
 current and deferred tax.  Provision for current tax is made after
 taking into consideration benefits admissible under the provisions of
 the Income Tax Act, 1961. Deferred Tax resulting from the difference
 between book and taxable profits is accounted for using the tax rates
 and laws that have been enacted or substantially enacted as on Balance
 Sheet date. The Deferred Tax is recognised and carried forward only to
 the extent that there is a reasonable certainty that the assets will be
 realised in future.
 
 xiii.Earnings Per Share
 
 Earning per shares(EPS) are computed on the basis of net profit after
 tax. The number of shares used in computing basic EPS is weighted
 average number of shares outstanding during the year.
 
 The diluted EPS is calculated on the same basis as basic EPS, after
 adjusting for the effect of potential diluted equity shares.
 
 xiv. Contingent Liabilities
 
 Contingent liability, if any, is disclosed by way of notes on accounts.
 Provision is made in account in respect of those contingencies which
 are likely to materialize in to liabilities after the year end till the
 adoption of accounts by Board of Directors and which have material
 effect on the position stated in the balance sheet.
 
 xv.  Cash & Cash Equivalents
 
 For the purpose of Cash Flow Statement cash and cash equivalents
 include cash in hand, demand deposits with bank, other short term
 highly liquid investments within original maturities of 3 months or
 less.