a) Basis of Accounting:
 
 The financial sfafemenfs are prepared under fhe historical cosf
 convenfion on an accrual basis, in accordance wif h fhe generally
 accepted accounf ing principles in India and in compliance wifh fhe
 applicable Accounfing Standards as notified under the Companies
 (Accounting Standards) Rules, 2006, as amended.
 
 b) Use of Estimates:
 
 The presentation of financial statements in conformity with the
 generally accepted accounting principles requires estimates and
 assumptions to be made that affect the reported amount of assets and
 liabilities and disclosure of contingent liabilities on the date of the
 financial statements and the reported amount of revenues and expenses
 during the reporting year. Differences between the actual results and
 estimates are recognized in the year in which the results are known /
 materialized.
 
 c) Revenue Recognition:
 
 i) Income from Real Estate Activities is recognized on accrual basis.
 
 ii) Revenue and related expenditures in respect of short term works
 contracts that are entered into and completed during the year are
 accounted for on accrual basis as they are earned or incurred though
 revenue and related expenditures in respect of Long term works
 contracts are accounted for on the basis of Percentage of Completion
 Method.
 
 iii) Income from Advisory to Power Projects is recognized on accrual
 basis.
 
 iv) Revenue from real estate development projects and plots under
 development is recognised in the financial year in which the agreement
 to sell / application forms (containing salient terms of agreement to
 sell) is executed, on the Percentage of Completion Method which is
 applied on a cumulative basis in each accounting year to the current
 estimate of contract revenue and related project costs, when the stage
 of completion of each project reaches a significant level which is
 estimated to be at least 25% of the total estimated construction cost
 of the respective projects.
 
 v) Interest income from deposits is recognized on accrual basis.
 
 vi) Dividend income is recognized when the right to receive the
 dividend is unconditionally established.
 
 vii) Profit on sale of investments is recognized on the date of the
 transaction of sale and is computed with reference to the cost of
 investments.
 
 viii) Incomes from sale of goods are recongised on dispatch of goods.
 Gross sale are stated at contractual realizable values and net of sale
 tax and trade discounts.
 
 d) Fixed Assets:
 
 Tangible Fixed Assets are stated at cost, net of tax / duty credits
 availed, less accumulated depreciation / impairment losses, if any.
 Cost includes original cost of acquisition, including incidental
 expenses related to such acquisition and installation.
 
 Intangible assets are stated at cost, net of tax / duty credits
 availed, less accumulated amortisation / impairment losses, if any.
 Cost includes original cost of acquisition, including incidental
 expenses related to such acquisition.
 
 e) Depreciation/Amortisation:
 
 Depreciation on Fixed Assets is provided on the Straight Line Method at
 the rates and as per the manner prescribed in Schedule XIV of the
 Companies Act, 1956.
 
 Depreciation on additions / deletions to fixed assets is provided on
 pro-rata basis from / till the date the asset is put to use /
 discarded. Individual assets costing less than Rs. 5,000 are fully
 depreciated in the year of purchase.
 
 f) Impairment of Assets:
 
 At each Balance Sheet date, the Company assesses whether there is any
 indication that an asset may be impaired, based on internal or external
 factors. If any such indication exists, the Company estimates the
 recoverable amount of the asset or the cash generating unit. If such
 recoverable amount of the asset or 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 recognised in the Profit and Loss Account. If,
 at the Balance Sheet date there is an indication that a previously
 assessed impairment loss no longer exists, the recoverable amount is
 reassessed and impairment losses previously recognised are accordingly
 reversed.
 
 g) Borrowing Costs:
 
 Borrowing costs attributable to the acquisition, construction or
 production of qualifying assets are capitalised as part of cost of the
 asset. 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 revenue.
 
 h) Investments:
 
 Investments are classified as long term or current investments. Long
 term investments are stated at cost and provision for diminution in
 their value, other than temporary, is recorded in the books of account.
 Current investments are stated at the lower of cost or fair value.
 
 i) Taxes on Income:
 
 CurrentTax is determined as the tax payable in respect of taxable
 income for the year and is computed in accordance with relevant tax
 regulations.
 
 Deferred Tax resulting from timing differences between taxable income
 and accounting income is accounted for at the current rate of tax /
 substantively enacted tax rates as on the Balance Sheet date, to the
 extent that the timing differences are expected to crystallize.
 
 Deferred Tax Assets are recognized where realization is reasonably
 certain whereas in case of carried forward losses or unabsorbed
 depreciation, Deferred Tax Assets are recognized only if there is
 virtual certainty supported by convincing evidence that such deferred
 tax assets will be realised. Deferred Tax Assets are reviewed for the
 appropriateness of their respective carrying values at each Balance
 Sheet date.
 
 j) Leases:
 
 In case of assets taken on operating leases, lease rentals are charged
 to the Profit and Loss Account in accordance with Accounting Standard
 19 (AS 19) - Leases as notified under the Companies (Accounting
 Standards) Rules, 2006, as amended.
 
 k) Foreign Currency Transactions:
 
 As stipulated in Accounting Standard 11, The Effects of Changes in
 Foreign Exchange Rates, notified under the Companies (Accounting
 Standards) Rules, 2006, as amended, foreign currency operations of the
 Company are classified as (a) Integral Operations and (b) Non Integral
 Operations. Overseas subsidiaries are treated as Non Integral
 Operations.
 
 l) Initial Recognition
 
 Foreign currency transactions are recorded in the reporting currency,
 by applying the exchange rate between the reporting currency and the
 foreign currency at the date of the transaction to the foreign currency
 amount.
 
 ii) Conversion
 
 Foreign currency monetary items are converted to reporting currency
 using the closing rate. Non monetary items denominated in a foreign
 currency which are carried at historical cost are reported using the
 exchange rate at the date of the transaction; and non-monetary items
 which are carried at fair value or any 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 the settlement/ conversion of monetary
 items or on reporting, the Company''s monetary items at rates different
 from those at which they were initially recorded, are recognized as
 income or expense in the year in which they arise except those arising
 from investments in non-integral operations.
 
 Exchange differences arising on monetary items that in substance forms
 part of the Company''s net investment in a non-integral foreign
 operation are accumulated in a foreign currency translation reserve in
 the Balance Sheet until the disposal of the net investment, at which
 time they are recognized as income or expenses.
 
 I) Employee Benefits:
 
 Short-term employee benefits are recognised as an expense at the
 undiscounted amount in the Profit and Loss Account for the year in
 which the related service is rendered. The Company''s contribution to
 Provident Fund and Employee State Insurance Schemes (defined
 contribution schemes) is charged to the Profit and Loss Account.
 
 Post employment and other long term employee benefits for its eligible
 employees are recognised as an expense in the Profit and Loss Account,
 for the year in which the employee has rendered services. The Company
 has unfunded defined benefit plans, namely compensated absences and
 gratuity the liability for which is determined on the basis of
 actuarial valuation, conducted semi-annually, by an independent
 actuary, in accordance with Accounting Standard 15 (AS 15) - Employee
 Benefits, notified under the Companies (Accounting Standards) Rules,
 2006, as amended.  The expense is recognised at the present value of
 the amount payable determined using actuarial valuation techniques.
 Actuarial gains and losses are recognised in the Profit and Loss
 Account as income or expenses.
 
 m) Deferred Employee Stock Compensation Costs:
 
 Deferred Employee Stock Compensation Costs are recognized in accordance
 with the Guidance Note on Accounting for Employee Share Based Payments
 issued by the Institute of Chartered Accountants of India, which
 establishes financial accounting and reporting principles for employee
 share based payment plans. Employee stock compensation costs are
 measured based on the estimated intrinsic or fair value (as elected by
 the Company in respect of its different Employees Share Based Payment
 Plans) of the stock options on the grant date. The compensation expense
 is amortized over the vesting period of the options.
 
 n) Inventories:
 
 Land other than that transferred to real estate projects under
 development is valued at lower of cost or net realisable value.
 
 Cost includes cost of acquisition of land and internal and external
 development costs, construction costs, and development/construction
 materials. Real estate projects under development represents land under
 development, cost incurred directly in respect of construction activity
 and indirect construction cost to the extent to which the expenditure
 is indirectly related to the construction or incidental thereto on
 unsold real estate projects is valued at cost.
 
 Construction materials, stores and spares, tools and consumable are
 valued at lower of cost or net realisable value, whichever is lower on
 the basis of first-in first-out method.
 
 o) Provisions, Contingent Liabilities and Contingent Assets:
 
 Provisions are recognized only when there is a present obligation, as a
 result of past events, and when a reliable estimate of the amount of
 obligation can be made. Contingent liability is disclosed for:
 
 i) Possible obligations which will be confirmed only by future events
 not wholly within the control of the Company or,
 
 ii) Present obligations arising from past events where it is not
 probable that an outflow of resources will be required to settle the
 obligation or a reliable estimate of the amount of the obligation
 cannot be made.
 
 Contingent Assets are not recognized in the financial statements since
 this may result in the recognition of income that may never be
 realized.
 
 p) Share Issue Expenses:
 
 Share Issue Expenses are adjusted against Securities Premium Account to
 the extent of balance available and thereafter, the balance portion is
 charged off to the Profit and Loss Account, as incurred.
 
 q) Earnings Per Share:
 
 Basic Earnings per Share is computed using the weighted average number
 of equity shares outstanding during the year. Diluted Earnings per
 Share is computed using the weighted average number of equity and
 dilutive potential equity shares outstanding during the year.
 
 r) Preliminary Expenses:
 
 Preliminary Expenses are adjusted against Securities Premium Account
 (net of tax) to the extent of balance available and thereafter, the
 balance portion is charged off to the Profit and Loss Account, as
 incurred.