1.  CORPORATE INFORMATION
 
 GPT Infraprojects Limited (the Company) is a listed public company
 domiciled in India and incorporated under the provisions of the
 Companies Act, 1956. The Company is primarily engaged in Construction
 Activities for Infrastructure projects. Besides, the company is also
 engaged in Concrete Sleeper Manufacturing business and Wind Mill Power
 Generation.
 
 (a) Terms/rights attached to equity shares
 
 i.  The company has only one class of equity shares having par value of
 Rs 10/- each. Each holder of equity shares is entitled to one vote per
 share. The company declares and pays dividends in Indian rupees. The
 dividend proposed by the Board of Directors is subject to the approval
 of the shareholders in the general meeting.
 
 ii.  The amount of per share dividend recognised as distribution to
 equity shareholders is Rs 1.50 (Rs 1.25) for the year.
 
 iii. In the event of winding-up of the Company, the equity shareholders
 shall be entitled to receive remaining assets of the Company. The
 distribution will be in proportion to the number of equity shares held
 by the shareholders.
 
 (e) Terms of conversion and rights of CCPS
 
 i.  The Company had issued CCPS in earlier years. CCPS carry dividend
 in the range of 2%-6%. The company declares and pays dividends in
 foreign currency. The dividend proposed by the Board of Directors is
 subject to the approval of the shareholders in the General Meeting. The
 CCPS does not carry any voting rights.
 
 ii.  Each holder of CCPS can opt to convert its CCPS into equity share
 at anytime on or before 18 months from the date of allotment of CCPS.
 If the holder exercises its conversion option, the Company will issue
 one equity share for each CCPS held. Such equity shares and CCPS are
 subject to lock in for one year from the date of allotment of CCPS.
 
 Note:
 
 2.1 Term Loan from bank in indian rupees is secured by first charge on
 all present and future goods, movable property including plant and
 machinery and other fixed assets, book debts, stock of raw materials,
 stores, process/finished stocks and all current assets of the company''s
 concrete sleeper division at panagarh and personal guarantees of three
 directors and two relatives. The loan outstanding as on 31st March 2011
 is repayable in 5 equal quarterly installments and carries interest @
 8% - 14.50% p.a.
 
 2.2 Term Loans in foreign currency (external commercial borrowing) from
 bank is secured by first charge of equipments purchased against such
 loans and personal guarantees of three directors and one relative. The
 loan is repayable in 8 quarterly equal installments of Rs 63.95 lacs
 (USD 1.25 lacs) each after 27 months from the date of disbursement
 (commencing February 26, 2013) and carries interest @ Libor (3 months)
 plus 3%.
 
 2.3 Term loans in indian rupees from others is secured by first/sole
 charge on immovable & movable assets and receivables of wind power unit
 of the Company and personal guarantees of three Directors. The
 outstanding loan is repayable in 2 installments of Rs 35.00 lacs and Rs
 33.00 lacs on 30th June 2012 and 30th September 2012 respectively and
 carries interest @ 8% p.a.
 
 2.4 Deferred Payment Credits are secured by first charge of equipments
 purchased against such loans and personal guarantees of two Directors.
 The outstanding loan amount is repayable in monthly installments and
 the amount repayable within one year is Rs 321.28 lacs, between 1 - 2
 years is Rs 213.98 lacs and between 2 - 3 year is Rs 201.83 lacs. The
 loan carries interest @ 8% - 12% p.a.
 
 Note:
 
 3.1 Cash credit, loan for working capital, packing credit loan and
 Foreign Currency Loan are secured by (a) First Hypothecation charge on
 current assets of the Company on pari pasu basis under consortium
 banking arrangement. (b) First Hypothecation charge on all movable
 fixed assets (excluding those assets financed out of term loan/lease
 finance from Banks/Financial Institutions) of the Company on pari pasu
 basis under consortium banking arrangement. (c) Personal Guarantee of
 three promoter directors of the Company and two relatives and (d)
 Corporate guarantee and equitable mortgage of land owned by GPT
 Developers Limited (formerly Tantia Medical Services Private Limited).
 All the charges created in favour of the Lenders for Cash Credit,
 Packing Credit Loan and Working Capital facilities rank pari passu
 inter se.
 
 3.2 Cash Credit carry interest @ 13.25% to 13.75% p.a. and are
 repayable on demand.
 
 3.3 Loan for working capital carry interest @ 11.50% to 13.00% p.a. and
 is repayable within 6 months from the balance sheet date.
 
 3.4 Packing Credit Loan carry interest @ 11.50% p.a. and is repayable
 within 2 months from the balance sheet date.
 
 3.5 Foreign currency loan carry interest @ 4.18% to 7.60% p.a. and is
 repayable within 12 months from the balance sheet date.
 
 3.6 Unsecured loan from bank in indian rupee and foreign currency are
 secured by personal guarantee of three promoter directors of the
 company. The interest rate and repayment terms are as follows -
 
 a.  Unsecured loan in indian rupee from bank carry interest @ 12.50% to
 14.50% p.a. and Rs 1,400.00 lacs is repayable within 3 months from the
 balance sheet date and Rs 93.33 lacs is repayable on demand
 
 b.  Unsecured loan in indian rupee from related party carry interest @
 12% p.a. and is repayable on demand.
 
 c.  Unsecured loan in foreign currency from banks carry interest @
 3.78% p.a. and is repayable within 4 months from the balance sheet
 date.
 
 (a) Pledged with Export - Import Bank of India as security for loan
 given by them to the Investee Subsidiary Company.
 
 (b) 2,295,000 (18,500) Shares Pledged with State Bank of India as
 security for loan given by them to the Investee Subsidiary Company.
 
 (c) The Joint Ventures are in the form of AOP and hence number of
 shares and face value are not applicable.
 
 (d) The non cumulative redeemable preference shares are redeemable
 after the expiry of 13 years from the date of
 
 issue/allotment or earlier subject to the approval/consent of the
 board, preference shareholders and lenders of the Investee Subsidiary
 Company.
 
 (e) The Redeemable Preference Shares are redeemable in ten equal
 quarterly installments starting from December 2011.
 
 (f) Valued at exchange rate prevailing on the date of
 allotment/transaction.
 
 4. CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF: 
 
                                                        (Rs in lacs)
 
 Particulars                                  As at 31st   As at 31st
                                              March 2012   March 2012  
 
 a) Outstanding bank guarantees and Letters   13,484.64     10,717.96 
 of Credit (Including Rs 6,518.78 Lacs 
 (Rs 4,174.44 Lacs) given for Joint Ventures
 and Rs 368.00 Lacs (Rs 380.76) given for 
 Subsidiaries)
 
 b) Corporate guarantees given for 
 subsidiaries                                  1,614.24      2,215.17
 
 c) Disputed Sales tax demands under appeal         Nil         39.75
 
 d) Disputed excise demands under appeal          98.97         93.62
 
 (b) Further, the Company had given Rs 200.00 Lacs during 2009-10 by way
 of interest free loan to M/s. GPT Employees Welfare Trust which would
 be recovered from the trust on issue of the aforesaid shares to the
 employees in terms of the above Scheme. The trust has refunded Rs 2.50
 lacs (Rs 4.00 lacs) to the Company during the year. As per Guidance
 Note on Accounting for Employee Share based Payments issued by the
 Institute of Chartered Accountants of India, the above loan has been
 adjusted to the extent of Rs 20.00 lacs (Rs 20.00 lacs) in equity share
 capital and balance Rs 173.50 lacs (Rs 176.00 lacs) in the securities
 premium account.
 
 5. SEGMENT INFORMATION
 
 Business segment : The business segments have been identified on the
 basis of the activities undertaken by the company. Accordingly, the
 Company has identified the following segments:
 
 Concrete Sleepers and Allied : Consists of manufacturing of concrete
 sleepers, supply of plant & machinery and components for manufacturing
 of concrete sleepers,
 
 Infrastructure : Consists of execution of construction contracts and
 other infrastructure activities, Others : Consists of electricity
 generated from wind farms,
 
 Geographical segment : The Company primarily operates in India and
 therefore the analysis of geographical segment is demarcated into
 Domestic and Overseas operations.
 
 6. Derivative instruments and unhedged foreign currency exposure as on
 the balance sheet date are as under :
 
 In view of the announcement made by The Institute of Chartered
 Accountants of India (ICAI) on ''Accounting for Derivatives'' the Company
 has provided for losses amounting to Rs 2.64 lacs (Rs 11.00 lacs) in
 respect of outstanding derivative contracts at the balance sheet date
 by marking them to market in line with the principles of prudence.
 
 Derivative Instruments/Forward Contracts outstanding as at the balance
 sheet date are as follows ;-
 
 - Forward Cover Contracts of USD 29.53 lacs (USD 30.00 lacs) on short
 term borrowings,
 
 - Interest rate swap with call spread contracts of USD 10.00 lacs (USD
 5.00 lacs) on long term borrowings
 
 7.  (a) Gratuity and leave benefit plans (AS 15 Revised)
 
 The Company has a defined benefit gratuity plan. Every employee who has
 completed five years or more of service is entitled to Gratuity on
 terms not less favorable than the provisions of The Payment of Gratuity
 Act, 1972. The scheme is funded.
 
 * The Management has relied on the overall actuarial valuation
 conducted by the actuary. However, experience adjustments on plan
 liabilities and assets are not readily available and hence not
 disclosed.
 
 The Company expects to contribute Rs 24.71 lacs (Rs 24.00 lacs) in the
 year 2012 - 13.
 
 The overall expected rate of return on assets is determined based on
 the market prices prevailing on that date, applicable to the period
 over which the obligation is to be settled.
 
 Notes:
 
 a.  The estimates of future salary increase considered in actuarial
 valuation, takes account of inflation, seniority, promotion and other
 relevant factors, such as supply and demand in the employment market.
 
 b.  The leave liabilities are non - funded. Accordingly, information
 regarding planned assets are not applicable.
 
 8.  The Company has operating leases for office and other premises
 that are renewable on a periodic basis and are cancelable by giving a
 notice period ranging from one month to three months. The amount of
 rent expenses included in statement of profit and loss towards
 operating Leases aggregate to Rs 198.34 lacs (Rs 97.27 lacs).
 
 9.  Previous year''s figures including those given in brackets have
 been regrouped/re-arranged wherever considered necessary to confirm to
 current years classifications in terms of note 2(b).