a.  Basis of preparation
 
 The financial statements have been prepared to comply in all material
 respects with the Accounting Standards notified by Companies
 (Accounting Standards) Rules, 2006, (as amended) and the relevant
 provisions of the Companies Act, 1956. The financial statements have
 been prepared under the historical cost convention on an accrual basis.
 The accounting policies have been consistently applied by the Company
 as in the previous year.
 
 b.  Use of estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period.  Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 c.  Revenue recognition
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured.
 
 (i) Revenue from construction activity
 
 Construction revenue and costs are recognized by reference to the stage
 of completion of the construction activity at the balance sheet date,
 as measured by the proportion that contract costs incurred for work
 performed to date bear to the estimated total contract costs. Where the
 outcome of the construction cannot be estimated reliably, revenue is
 recognized to the extent of the construction costs incurred if it is
 probable that they will be recoverable. In the case of contracts with
 defined milestones and assigned price for each milestone, it recognizes
 revenue on transfer of significant risks and rewards which coincides
 with achievement of milestone and its acceptance by its customer.
 Provision is made for all losses incurred to the balance sheet date.
 Any further losses that are foreseen in bringing contracts to
 completion are also recognised. Contract revenue earned in excess of
 billing has been reflected under Other Current Assets and billing in
 excess of contract revenue has been reflected under Current
 Liabilities in the balance sheet.
 
 (ii) Dividends
 
 Revenue is recognized when the shareholders'' right to receive payment
 is established by the balance sheet date.  Dividend from subsidiaries
 is recognized even if same are declared after the balance sheet date
 but pertains to period on or before the date of balance sheet as per
 the requirements of schedule VI of the Companies Act, 1956.
 
 (iii) Income from management/ technical services
 
 Income from management/technical services is recognized as per the
 terms of the agreement on the basis of services rendered.
 
 (iv) Interest
 
 Interest on investment and bank deposits are recognized on a time
 proportion basis taking into account the amounts invested and the rate
 applicable.
 
 (v) Income from mutual funds
 
 Profit/ loss on sale of mutual funds are recognized when the title to
 mutual funds ceases to exist.
 
 d.  Fixed assets
 
 Fixed assets are stated at cost (or revalued amounts, as the case may
 be), less accumulated depreciation and impairment losses if any. Cost
 comprises of purchase price and any attributable cost of bringing the
 asset to its working condition for its intended use. Borrowing costs
 relating to acquisition of fixed assets which takes substantial period
 of time to get ready for its intended use are also included to the
 extent they relate to the period till such assets are ready to be put
 to use.
 
 e.  Depreciation
 
 Depreciation is provided on straight line method at the rates specified
 under Schedule XIV of the Companies Act, 1956 which is estimated by the
 management to be the estimated useful lives of the assets. Assets
 individually costing less than Rs. 5,000 are fully depreciated in the
 year of acquisition.
 
 f.  Impairment of assets
 
 The carrying amounts of assets are reviewed at each balance sheet date
 if there is any indication of impairment based on internal/ external
 factors. An impairment loss is recognized wherever the carrying amount
 of an asset exceeds its recoverable amount. The recoverable amount is
 the greater of the asset''s net selling price and value in use. In
 assessing value in use, the estimated future cash flows are discounted
 to their present value using a pre-tax discount rate that reflects
 current market assessments of the time value of money and risks
 specific to the asset.
 
 After impairment, depreciation is provided on the revised carrying
 amount of the assets over its remaining useful life.
 
 g.  Leases
 
 Finance leases, which effectively transfer to the Company substantially
 all the risks and benefits incidental to the ownership of the lease
 item, are capitalised at the lower of the fair value and present value
 of the minimum lease payments at the inception of the lease term and
 disclosed as leased assets. Lease payments are apportioned between the
 finance charges and reduction of the lease liability based on the
 implicit rate of return. Finance charges are charged directly against
 income. Lease management fees, legal charges and other initial direct
 cost are capitalised.
 
 If there is no reasonable certainty that the Company will obtain the
 ownership by the end of the lease term, capitalised leased assets are
 depreciated over the shorter of the estimated useful life of the asset
 or the lease term.
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased item, 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.
 
 h.  Investments
 
 Investments that are readily realizable 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 computed
 category wise. Long-term investments are carried at cost. However,
 provision for diminution in value is made to recognise a decline other
 than temporary in the value of the investments.
 
 i.  Inventories
 
 Inventories of raw materials are valued at lower of cost and net
 realisable value. Cost of raw materials is determined on a weighted
 average basis and includes all applicable costs incurred in bringing
 goods to their present location and condition.
 
 Net realisable value is the estimated selling price in the ordinary
 course of business, less estimated costs of completion and estimated
 costs necessary to make the sale.
 
 Costs incurred that relate to future activities on the contract are
 recognised as Contract work in progress.
 
 Contract work-in-progress comprising construction costs and other
 directly attributable overheads are valued at cost.
 
 j.  Employee Benefits
 
 (i) Defined contribution plan
 
 Contribution paid/payable to defined contribution plans comprising of
 provident fund and pension fund are recognised as expenses during the
 period in which the employees perform the services that the payments
 cover.
 
 The Company also has a defined contribution superannuation plan (under
 a scheme of Life Insurance Corporation of India) covering all its
 employees and contributions in respect of such scheme are charged
 during the period in which the employees perform the service that the
 payments cover.
 
 The Company makes monthly contributions and has no further obligation
 under the plan beyond its contribution.
 
 (ii) Defined benefit plan
 
 Gratuity for employees is covered under a scheme of Life Insurance
 Corporation of India and contributions in respect of such scheme are
 recognized in the Profit and Loss Account. The liability as at the
 Balance Sheet date is provided for based on the actuarial valuation,
 based on Projected Unit Credit Method at the balance sheet date,
 carried out by an independent actuary. Actuarial gains and losses
 comprise experience adjustments and the effect of changes in the
 actuarial assumptions and are recognized immediately in the Profit and
 Loss Account as income or expense.
 
 (iii) Other long term employee benefits
 
 Compensated absences which are not expected to occur within twelve
 months after the end of the period in which the employee renders the
 related services are recognised as a liability at the present value of
 the defined benefit obligation at the balance sheet date based on
 actuarial valuation method of Projected Unit Credit carried out at each
 balance sheet date. Actuarial gains and losses are recognized
 immediately in the Profit and Loss Account as income or expense.
 
 (iv) Short term employee benefits
 
 Short term employee benefits including compensated absences as at the
 balance sheet date are recognised as an expense as per the Company''s
 schemes based on the expected obligation on an undiscounted basis.
 
 k.  Foreign currency transactions
 
 (i) Initial Recognition
 
 Foreign currency transactions are recorded in the reporting currency,
 by applying to the foreign currency amount the exchange rate between
 the reporting currency and the foreign currency at the date of the
 transaction.
 
 (ii) Conversion
 
 Foreign currency monetary items are reported using the closing rate.
 Non-monetary items which are carried in terms of historical cost
 denominated in a foreign currency are reported using the exchange rate
 at the date of the transaction; and non-monetary items which are
 carried at fair value or other similar valuation denominated in a
 foreign currency are reported using the exchange rates that existed
 when the values were determined.
 
 (iii) Exchange differences
 
 Exchange differences arising on a monetary item that, in substance,
 form part of the company''s net investment in a non-integral foreign
 operating is accumulated in a foreign currency translation reserve in
 the financial statements until the disposal of the net investment, at
 which time they are recognized as income or as expenses.
 
 Exchange differences, in respect of accounting periods commencing on or
 after 7th December, 2006, arising on reporting of long-term foreign
 currency monetary items at rates different from those at which they
 were initially recorded during the period, or reported in previous
 financial statements, in so far as they relate to the acquisition of a
 depreciable capital asset, are added to or deducted from the cost of
 the asset and are depreciated over the balance life of the asset, and
 in other cases, are accumulated in a Foreign Currency Monetary Item
 Translation Difference Account in the enterprise''s financial
 statements and amortized over the balance period of such long-term
 asset/liability but not beyond accounting period ending on or before
 March 31, 2012.
 
 Exchange differences arising on the settlement of monetary items not
 covered above, or on reporting such monetary items of company at rates
 different from those at which they were initially recorded during the
 year, or reported in previous financial statements, are recognized as
 income or as expenses in the year in which they arise.
 
 l.  Earnings per share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the period attributable to equity shareholders (after
 deducting preference dividends and attributable taxes) by the weighted
 average number of equity shares outstanding during the period. Partly
 paid equity shares are treated as a fraction of an equity share to the
 extent that they were entitled to participate in dividends relative to
 a fully paid equity share during the reporting period. The weighted
 average numbers of equity shares outstanding during the period are
 adjusted for events of bonus issue; bonus element in a rights issue to
 existing shareholders; share split; and reverse share split
 (consolidation of shares).
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the period attributable to equity shareholders and
 the weighted average number of shares outstanding during the period are
 adjusted for the effects of all dilutive potential equity shares.
 
 m. Income taxes
 
 Tax expense comprise of current and deferred tax. Current income tax is
 measured at the amount expected to be paid to the tax authorities in
 accordance with the Income-tax Act, 1961 enacted in India. Deferred
 income taxes reflect the impact of current year timing differences
 between taxable income and accounting income for the year and reversal
 of timing differences of earlier years.
 
 Deferred tax is measured based on the tax rates and the tax laws
 enacted or substantively enacted at the balance sheet date. Deferred
 tax assets are recognized only to the extent that there is reasonable
 certainty that sufficient future taxable income will be available
 against which such deferred tax assets can be realised. In situations
 where the company has unabsorbed depreciation or carry forward tax
 losses, all deferred tax assets are recognised only if there is virtual
 certainty supported by convincing evidence that they can be realised
 against future taxable profits.
 
 At each balance sheet date the Company re-assesses unrecognized
 deferred tax assets. It recognises unrecognised deferred tax assets to
 the extent that it has become reasonably certain or virtually certain,
 as the case may be that sufficient future taxable income will be
 available against which such deferred tax assets can be realized.
 
 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 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.
 
 MAT credit is recognized as an asset only when and to the extent there
 is convincing evidence that the Company will pay normal income tax
 during the specified period. In the year in which the Minimum
 Alternative Tax (MAT) credit becomes eligible to be recognized as an
 asset in accordance with the recommendations contained in Guidance Note
 issued by the Institute of Chartered Accountants of India, the said
 asset is created by way of a credit to the profit and loss account and
 shown as MAT credit entitlement. The Company reviews the same at each
 balance sheet date and writes down the carrying amount of MAT credit
 entitlement to the extent there is no longer convincing evidence to the
 effect that Company will pay normal income tax during the specified
 period.
 
 n.  Segment reporting policies Identification of segments:
 
 The Company''s operating businesses are organized and managed separately
 according to the nature of products and services provided, with each
 segment representing a strategic business unit that offers different
 products and serves different markets. The analysis of geographical
 segments is based on the areas in which major operating divisions of
 the Company operate.
 
 Allocation of common costs:
 
 Common allocable costs are allocated to each segment according to the
 relative contribution of each segment to the total common costs.
 
 Unallocated items
 
 Includes general corporate income and expense items which are not
 allocated to any business segment.
 
 Segment policies:
 
 The Company prepares its segment information in conformity with the
 accounting policies adopted for preparing and presenting the financial
 statements of the Company as a whole.
 
 0.  Provisions
 
 A provision is recognised when an enterprise has a present obligation
 as a result of past event; it is probable that an outflow of resources
 will be required to settle the obligation, in respect of which a
 reliable estimate can be made.  Provisions are not discounted to its
 present value and are determined based on best estimate required to
 settle the obligation at the balance sheet date. These are reviewed at
 each balance sheet date and adjusted to reflect the current best
 estimates.
 
 p.  Cash and cash equivalents
 
 Cash and cash equivalents for the purpose of cash flow statement
 comprise cash at bank and in hand and short- term investments with an
 original maturity of three months or less.
 
 q. Shares/ debentures issue expenses and premium redemption
 
 Shares/ debentures issue expenses incurred are expensed in the year of
 issue and redemption premium payable on preference shares/ debentures
 are expensed over the term of preference shares/ debenture. Both are
 adjusted to the securities premium account as permitted by Section
 78(2) of the Companies Act, 1956.
 
 r.  Borrowing Costs
 
 Borrowing costs directly attributable to the acquisition, construction
 or production of an asset that necessarily takes a substantial period
 of time to get ready for its intended use or sale are capitalized as
 part of the cost of the respective asset. All other borrowing costs are
 expensed in the period they occur. Borrowing costs consist of interest
 and other costs that an entity incurs in connection with the borrowing
 of funds.