(All amounts are expressed in Indian Rupees unless otherwise stated)
 
 1. Nature of opeations
 
 IVRCl Assets & Holdings Limited (the Company) is a Companies
 registered under the Complies Act, 1956. The Company, through Special
 Purpose Vehicles (SPV), is engaged in the business of Development,
 Operations & Management and Execution of infrastructure projects,
 predominantly in the Build, Operate and Transfer (BOT) space in the
 verticals of Highways, Water [including desalination], Tankages, Multi
 level parking facilities for Central and State Governments, local
 bodies and private sector in the country. In addition, the Company is
 engaged in the business of development of projects relating to
 townships, mega malls, real estate property development etc.
 
 2.  Amalgamation
 
 During the previous year, the Company entered into a Scheme of
 Amalgamation (the Scheme) with IVR Strategic Resources & Services
 Limited (ISRSL) and IVRCL Water Infrastructures Limited (IWIL)
 (transferor companies). The transferor companies were engaged in the
 business of executing various Road and Water BOT projects. The Scheme
 was sanctioned by the Honourable High Court of Judicature at Hyderabad
 vide its Order dated February 26, 2010.
 
 The salient provisions of the said Scheme as approved by the Honourable
 High Court are as follows:
 
 a) The Scheme of Amalgamation became effective on April 01, 2009, the
 appointed date.
 
 b) The assets, liabilities, rights and obligations of erstwhile ISRSL
 and IWIL have been transferred to and vested with the Company with
 effect from 1 st April, 2009 and have been recorded at their respective
 fair values, under the purchase method of accounting prescribed by
 Accounting Standard 14 - Accounting for amalgamations.
 
 c) In consideration of amalgamation of ISRSL and IWIL with the Company,
 59,463,572 equity shares of Rs 10 each fully paid up amounting to Rs.
 594,635,720 were issued to the equity share holders of ISRSL and IWIL
 whose names were registered in the register of members of ISRSL and
 IWIL respectively on record date.
 
 d) Excess of fair value of net assets taken over by the Company over
 the face value of equity shares issued amounting to Rs. 12,531,527,143
 has been credited to Capital Reserve Account in accordance with the
 Scheme. Had the Scheme not prescribed this accounting treatment, the
 aggregate amount of Rs. 12,531,527,143 would have credited to
 Securities Premium account during the previous year instead of Capital
 Reserve Account in accordance with Accounting Standard 14 - Accounting
 for amalgamations
 
 3.  Issue of Debentures
 
 Secured debentures:
 
 During the previous year, the Company had issued 1,500 secured
 redeemable non-convertible debentures of face value of Rs. 1,000,000
 each, carrying rate of interest of 9.5% per annum payable on a
 quarterly basis with a tenor of 3 years.
 
 The Company has not created a Debenture Redemption Reserve in respect
 of such debenture to the extent of Rs.  165,667,808 (Previous year: Rs.
 8,989,726) under Section 117C of the Companies Act, 1956 due to losses
 incurred during the current and previous year. The Company has executed
 the trust deed and has created charge on the security.
 
 As per Section 78 of the Companies Act, 1956, expenses incurred on
 issue of Debenture of Rs. Nil (Previous year: Rs.  13,955,889) have
 been debited to Securities Premium Account net of deferred tax
 adjustment amounting to Rs. Nil (Previous year: Rs 6,942,417).
 
 Unsecured debentures:
 
 During the current year, the Company has issued 1,000 unsecured
 redeemable non-convertible debentures of face value of Rs. 1,000,000
 each, carrying rate of interest of 10.1 % per annum payable on a
 quarterly basis with a tenor of 18 months. The Company has not created
 a Debenture Redemption Reserve in respect of such debenture to the
 extent of Rs. 127,853,881 (Previous year: Rs. Nil) under Section 11 7C
 of the Companies Act, 1956 due to losses incurred during the current
 year.
 
 4.  Contingent Liabilities
 
 a) Claims against the Company not acknowledged as debts Rs. 564,376,848
 (Previous year: Rs. 294,424,976) for interest on delayed payments.b)
 
 b)During the year 2006, Company had entered into Joint Development
 Agreements (JDAs) with various individual plot owners to jointly
 develop a property situated at Cyber Enclave, Hi-tech City,
 Hyderabad. As per JDAs, the Company was required to amalgamate all the
 plots pertaining to Cyber Enclave and complete the development per
 specified plan within a period of thirty months from the date of
 respective JDAs. As per terms and conditions of the agreement, all the
 plot owners have an obligation to enter into JDA to facilitate
 amalgamation of plots without which development cannot be completed. In
 case of delay in completion of the project by the Company, it would
 indemnify the loss occurring to the individual land owners per agreed
 terms for the delayed period.
 
 As at March 31,2011, certain plot owners of Cyber Enclave have still
 not entered into the JDA with the Company.  Accordingly, development of
 the property could not be completed by the Company and necessary
 permission and clearances from various authorities are pending.
 
 The Company, believes that plot owners will get the right to claim
 compensation for delayed period only when delay is caused by the
 Company. Since the Company has performed all the obligations on its
 part, payment of compensation to land owners for delay in the project
 is not probable. The liability, if any, that may arise on account of
 delay in development of the above property is not presently
 ascertainable.
 
 Based on internal assessment and legal opinion, the management is
 confident that for the above mentioned contingent liabilities, no
 provision is required to be made as on March 31, 2011.
 
 5.  Leases
 
 Operating Lease Obligations: The Company has taken office premises
 under operating leases. These are generally cancellable in nature.
 There are no restrictions imposed by lease arrangements. There are no
 subleases. Lease pay- ments recognized as expense in profit and loss
 account for the year aggregate to Rs. 9,907,881 (Previous year: Rs.
 6,736,077)
 
 6.  Related Party Disclosure
 
 Information regarding Related Party Transactions as per Accounting
 Standard AS-18 Related Party Disclosures- notified by Companies
 (Accounting Standards) Rules, 2006, (as amended).  12.1 List of Related
 Parties
 
 A.  Holding Company
 
 IVRCL Limited (Formerly IVRCL Infrastructure and Projects Limited)
 
 B.  Subsidiary Companies - the ownership directly or indirectly through
 subsidiaries
 
 SI.   Name of the Subsidiary
 No.
 
 1.    IVR Hotels and Resorts Limited
 
 2.    Mummidi Developers Private Limited
 
 3.    Samatteri Developers Private Limited
 
 4.    IVR Prime Developers (Amalapuram) Private Limited
 
 5.    IVR Prime Developers (guntur) Private Limited
 
 6.    Absorption Aireon Engineers Private Limited
 
 7.    IVR Prime Developers (Thandiarpet) Private Limited
 
 8.    IVR Prime Developers (guummidipundi) Private Limited
 
 9.    IVR Prime Developers (Kodambakkam) Private Limited
 
 10.   IVR Prime Developers (Arumbakkam) Private Limited
 
 11.   IVR Prime Developers (Anna Nagar) Private Limited
 
 12.   IVR Prime Developers (Pallavaram) Private Limited
 
 13.   IVR Prime Developers (West Mambalam) Private Limited
 
 14.   Bibinagar Developers Private Limited
 
 15.   IVR Prime Developers (Anakapalle) Private Limited
 
 16.   IVR Prime Developers ( Rajampeta ) Private Limited
 
 17.   IVR Prime Developers (Tanuku ) Private Limited
 
 18.   IVR Prime Developers ( Red Hills) Private Limited
 
 19.   IVR Prime Developers ( Rajahmundry) Private Limited
 
 20.   IVR Prime Developers (Tuni) Private Limited
 
 21.   IVR Prime Developers ( Bobbili) Private Limited
 
 22.   IVR Prime Developers ( Bhimavaram ) Private Limited
 
 23.   GSVK Manpower Supply & Services Private Limited 
       (Formerly IVR Prime Developers ( Valasaravakkam ) 
       Private Limited)
 
 24.   IVR Prime Developers ( Egmore) Private Limited
 
 25.   IVR Prime Developers (Tambaram ) Private Limited
 
 26.   IVR Prime Developers (Ashram ) Private Limited
 
 27.   IVR Prime Developers ( Retiral Homes) Private Limited
 
 28.   IVR Prime Developers (Avadi) Private Limited
 
 29.   IVR Prime Developers (Alwarpet) Private Limited
 
 30.   IVR Prime Developers (Mylapore) Private Limited
 
 31.   IVR Vaanaprastha Private Limited
 
 32.   IVR PUDL Resorts and Clubs Private Limited
 
 33.   IVR Prime Developers (Nellore) Private Limited
 
 34.   Duvvda Developers Private Limited
 
 35.   Gamaa Developers Private Limited
 
 36.   Kasibugga Developers Private Limited
 
 37.   Vedurwada Developers Private Limited
 
 38.   Eluru Developers Private Limited
 
 39.   Geo Prime Developers Private Limited
 
 40.   Theata Developers Private Limited
 
 41.   Vijayawada Developers Private Limited
 
 42.   Kunnam Developers Private Limited
 
 43.   Papankuzhi Developers Private Limited
 
 44.   Haripuram Developes private Limited
 
 45.   Rudravaram Developers Private Limited
 
 46.   IVR Prime Developers (Palakkad) Private Limited 1 ,2
 
 47.   Simhachalam Prims Developers Private Limited
 
 48.   Agaram Developers Private Limited
 
 49.   Siripuram Developers Private Limited
 
 50.   IVR Prims Developers (Araku) Private Limited
 
 51.   IVR Prims Developers (Erode) Private Limited
 
 52.   IVR Prims Developers (Kakinada) Private Limited
 
 53.   IVR Prims Developers (Pudukkottai) Private Limited
 
 54.   Annupampattu Developers Private Limited
 
 55.   llavampedu Developers Private Limited
 
 56.   IVRC L Mega Malls Limited
 
 57.   Chodavaram Developers Private Limited
 
 58.   Gajuwaka Developers Private Limited
 
 59.   Tirumani Developers Private Limited
 
 60.   IVR Prims Developers (Adayar) Private Limited
 
 61.   IVR Prims Developers (Ananthapuram ) Private Limited
 
 62.   IVR Prims Developers ( Perambadur) Private Limited
 
 63.   IVR Prims Developers (Guindy) Private Limited 1 ,2
 
 64.   Geo IVRCCL Engineering Limited
 
 65.   First STP Private Limited 1
 
 66.   IVRCCL Building Products Limited 1,2
 
 67.   Alkor Petroo Limited 1, 2
 
 68.   Kumarapalayam Tollways Limited 1
 
 69.   Salem Tollways Limited 1
 
 70.   jalandhar Amritsar Tollways Limited 1
 
 71.   SPB Developers Private Limited 1
 
 72.   Chennai Water Desalination Limited 1
 
 73.   Sion Panvel Tollways Private Limited 1
 
 74.   IVRCCL Indore Gujarat Tollways Limited
 
 75.   IVRCCL Cthengapalli Tollways Limited 3
 
 76.   IVRCCL Goa Tollways Limited 3
 
 77.   IVRCCL Cthandrapur Tollways Limited 3
 
 78.   IVRCCL Multilevel Car Parking Private Limited 3
 
 Note:
 
 1.  Investments acquired on account of amalgamation during the previous
 year (Refer note no 3(a) of schedule 20).
 
 2.  Investment in subsidiaries has been disposed off during the year.
 
 3.  Subsidiary incorporated during the year.
 
 C.  Fellow Subidiaries :
 
 SI.   Name of the Fellow Subsidiary
 No.
 
 1.    IVRCL PSC Pipes Private Limited
 
 2.    IVR Enviro Projects Private Limited
 
 3.    IVRCL - Cadagua Hogenakkal Water Treatment 
       Company Private Limited
 
 4.    IVRCL Steel Constructions and Services Limited
 
 5.    IVRCL Infrastructures and Projects (Botswana) 
       (Ply) Limited*
 
 6.    Hindustan Dorr-Oliver Limited
 
 7.    HDO Technologies Limited
 
 8.    Davymarkham Holdings Limited*
 
 9.    Davymarkam Limited
 
 10.   IVRCCL Holdings & Services Pte. Limited
 
 11.   HDO UK Limited (formerly known as IMCO (22010) 
       Limited)
 
 12.   Alkor Petroo Limited
 
 13.   IVRCL Building Products Limited
 
 14.   IVR Prime Developers (Palakkad) Private Limited
 
 15.   IVR Prime Developers (Guindy) Private Limited
 
 16.   IVRCL Patalaganga Truck Terminals Private Limited
 
 * (Closed the operations during the year.
 
 D.  Associate
 
 S.No    Name of the Associate
 
 1.      IOT Utkal Energy Services Limited *
 
 * Associate with effect from June 04, 2010
 
 E.  Key Management Personnel and their Relatives
 
 S.No   Name of Key Managerial      Relationship
        Personnel or Relative
 
 1      Mr. E. Sudhir Reddy         Chairman
 
 2      Mr. S Ramachardram *        Managimg Director 
                                    (BOOT Projects)
 
 3      Mr. E. Sunil Reddy          Vice Chairman and 
                                    Managing Director
 
 4      Mr. R. Balarami Reddy       Director
 
 5      Mr. E Ella Reddy            Relative of Chairman
 
 6      Mrs. E Sujatha Reddy        Relative of Chairman
 
 7      Mrs. E Indira Reddy         Relative of Chairman
 
 * Appointed with effect from April 14, 2010.
 
 B.  Companies owned by or where significant influence exercised by Key
 Management Personnel and their Relatives 
 
 S.No    Name of the Company
 
 1.      Palladium Infrastructure and Projects Limited
 
 2.      A.P Enercon Emgimeers Private Limited
 
 3.      Indus Palms Hotels & Resorts Limited
 
 4.      Soma Hotels & Resorts Limited
 
 5.  The Company bought 9,000 shares of IVRCL Patalagamga Truck
 Terminals Private Limited at a cost of Rs. 90,000 and has disposed this
 investment during the year at cost.
 
 7.  Retirement and other employee benefits
 
 a) Disclosures related to Defined Contribution Plan:
 
 Contributions recognized as expense in Profit and Loss account towards
 Provident fund Rs.3,405,794 (Previous Year: 829,810) and towards Super
 Annuation Rs. 1,540,496 (Previous Year: Rs. 307,200)
 
 b) Disclosures related to Defined Benefit Plan:
 
 The Company has a defined benefit gratuity plan. Every employee who has
 completed five years or more of service gets a gratuity on departure at
 15 days salary (last drawn salary) for each completed year of service.
 This gratuity plan is un-funded.
 
 8.  The Company has acquired various lard parcels and it into initial
 stage of project implementation. As per Company''s business plan, the
 projects will have multiple properties consisting of integrated
 townships, plots, flats, residential and commercial multistoried
 buildings and IT Parks which will be classified under Fixed Assets,
 Investment Properties and Inventories, as the case may be, based on
 ultimate end use pattern as per final business plan of the Company.
 Pending such reclassification, the cost incurred on development of
 projects is included under the head Inventory''.
 
 9.  The Company has directly and through some of its subsidiaries
 incurred an aggregate cost of Rs.12,140,734,636 (Previous year: Rs.
 11,437,678,666) on acquisition of certain land parcels and project
 expenditure incurred on some of these land parcels. The said land
 parcels/projects are being carried in the books at cost, which in the
 opinion of the management, is lower than the net realizable value/value
 in use, based on the assessment of experts engaged by the management.
 Accordingly, no adjustment has been made to the carrying value of these
 land parcels/projects.
 
 10.  Development rights of laud
 
 Inventories include earnest money deposits paid towards consideration
 for acquiring development rights of land from group companies and
 others as per Development Agreements amounting to Rs. 3,425,680,138
 (previous year: Rs.  3,322,477,747).
 
 11.  Property Development Rights
 
 Property development rights under inventory include consideration and
 interest paid/payable to NOIDA (New Okhla Industrial Development
 Authority) aggregating to Rs.7,288,678,472 (Previous year: Rs.
 7,055,288,497) towards the rights for development of 100.41 acres of
 leasehold land at NOIDA. During the year 2006-07, the Holding Company,
 IVRCL Limited (formerly known as IVRCL Infrastructures and Projects
 Limited) had transferred these rights to the Company, vide Memorandum
 of Understanding dated 14th February, 2007. Balance payable outstanding
 to NOIDA as on March 31, 2011 is Rs. 4,010,653,333 (Previous year: Rs.
 3,721,333,615). Also refer Note 7(a) of Schedule 20 for the interest on
 delayed payments in respect of above.
 
 12.  Dues to Micro Small and Medium Enterprises
 
 Based on the information available with the Company, there are no
 vendors who are registered as Micro, small and Medium enterprises under
 The Micro, Small and Medium Enterprises Development Act, 2006 as at
 March 31,2011.  Accordingly disclosures required under this Act are not
 given.
 
 13.  In accordance with Accounting Standard 17 - Segment Reporting,
 segment information has been given in the consolidated financial
 statements and therefore no separate disclosure on segment information
 is given in these financial statements.
 
 14.  Information required under 4C, of Part-ll of Schedule VI to the
 Companies Act, 1956 relating to the licensed capacity, installed
 capacity and actual production is not applicable.
 
 15.  The figures of the previous year have been regrouped/ rearranged,
 where necessary to conform to those of the current year.