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
 with those used in the previous year.
 
 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.
 
 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.
 
 Income from Services
 
 For EPC and Construction contracts, contract prices are either fixed or
 subject to price escalation clauses.
 
 Revenues are recognised on a percentage of completion method measured
 on the basis of stage of completion which is as per joint surveys and
 work certified by the customers.
 
 Profit is recognised in proportion to the value of work done (measured
 by the stage of completion) when the outcome of the contract can be
 estimated reliably.
 
 The estimates of contract cost and the revenue thereon are reviewed
 periodically by management and the cumulative effect of any changes in
 estimates in proportion to the cumulative revenue is recognised in the
 period in which such changes are determined. When the total contract
 cost is estimated to exceed total revenues from the contract, the loss
 is recognised immediately.
 
 Amounts due in respect of price escalation claims and/or variation in
 contract work are recognized as revenue only if the contract allows for
 such claims or variations and/or there is evidence that the customer
 has accepted it and are capable of being reliably measured.
 
 Management Consultancy
 
 Income from project management/technical consultancy is recognized as
 per the terms of the agreement on the basis of services rendered.
 
 Sales
 
 Revenue from sale of power (net of discount) is recognized on accrual
 basis.
 
 Revenue from sale of infirm power is recognized on accrual basis as per
 the Central Electricity Regulatory Commission norms.
 
 Delayed payment charges and interest on delayed payments for power
 supply are recognized on acceptance by customers.
 
 Revenue from sale of Verified Emission Reductions (VERs) and Certified
 Emission Reductions (CERs) is recognized on accrual basis on sale of
 eligible credits.
 
 Interest
 
 Revenue is recognised on a time proportion basis taking into account
 the amount outstanding and the rate applicable.
 
 Dividends
 
 Revenue is recognised when the shareholders'' right to receive payment
 is established by the balance sheet date. Dividend from subsidiaries is
 recognised 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
 requirement of Schedule VI of the Companies Act, 1956.
 
 Fixed Assets
 
 Fixed assets are stated at cost, less accumulated depreciation and
 impairment losses if any. Cost comprises the 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.
 
 Assets under installation or under construction as at the Balance Sheet
 date are shown as Capital Work in Progress.
 
 Impairment of Assets
 
 i. 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.
 
 ii. After impairment, depreciation is provided on the revised carrying
 amount of the asset over its remaining useful life.
 
 Operating Leases
 
 Assets acquired on leases where a significant portion of the risks and
 rewards of ownership are retained by the lessor are classified as
 operating leases. Lease rental are arrived on straight line basis and
 charged to the Profit and Loss Account on accrual basis.
 
 Depreciation/Amortization
 
 Tangible Assets:-
 
 Depreciation is provided using the Straight Line Method as per the
 useful lives of the assets estimated by the management, or at the rates
 prescribed under Schedule XIV of the Companies Act, 1956 whichever is
 higher. Assets costing Rs. 5000 or less are fully depreciated in the year
 of acquisition.
 
 Certain project related construction assets including temporary
 structures are depreciated over the respective estimated project
 periods. Depreciation on ‘Wooden Scaffoldings'' is provided at 100%, and
 ‘Metal Scaffoldings'' is written off over a period of 3 years, which are
 grouped under plant and machinery.
 
 Leasehold improvements included in “furniture and fixtures”Rs. are
 amortized over the period of lease or estimated useful life whichever
 is shorter.
 
 In respect of additions/deletions to the fixed assets/leasehold
 improvements, depreciation is charged from the date the asset is ready
 to use/up to the date of deletion.
 
 Intangible Assets:-
 
 Intangible assets are recognized when it is probable that the future
 economic benefits that are attributable to the asset will flow to the
 enterprise and the cost of the asset can be measured reliably.
 Intangible assets are amortized as follows:
 
 Computer Software is amortized over an estimated useful life of 4
 years.
 
 Investments
 
 Investments that are readily realisable 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 determined on
 an individual investment basis. 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.
 
 Inventories
 
 Construction materials and project / construction work-in- progress are
 valued at lower of cost and net realizable value.
 
 Consumables, Stores and Spares are valued at lower of cost and net
 realizable value.
 
 Cost is determined on Weighted Average Cost method.
 
 Net realizable 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.
 
 Employee Benefits
 
 i. Retirement benefits in the form of Provident Fund are a defined
 contribution scheme and the contributions are charged to the Profit and
 Loss Account of the year when the contributions to the respective funds
 are due. There are no other obligations other than the contribution
 payable to the respective funds.
 
 ii. Gratuity liability is defined benefit obligations and is provided
 for on the basis of an actuarial valuation on projected unit credit
 method made at the end of each financial year.
 
 iii. Retention bonus liability is provided for on the basis of
 actuarial valuation at the end of each financial year.
 
 iv. Compensated absences are provided for based on actuarial valuation
 at the year end. The actuarial valuation is done as per projected unit
 credit method.
 
 v. Actuarial gains/losses are immediately taken to profit and loss
 account and are not deferred.
 
 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.
 
 Claims
 
 Claims for duty drawback are accounted for on accrual basis.
 
 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 the settlement of monetary items 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.
 
 (iv) Forward Exchange Contracts not intended for trading or speculation
 purposes
 
 In case of forward exchange contracts or any other financial
 instruments that is in substance a forward exchange contract to hedge
 the foreign currency risks the premium or discount arising at the
 inception of the contract is amortised as expenses or income over the
 life of the contract. Exchange differences arising on such contracts
 are recognized in the period in which they arise.
 
 Losses on account of outstanding Forward exchange contracts which are
 on account of firm commitments and / or in respect of highly probable
 forecast transaction on balance sheet date are accounted on Mark to
 Market basis keeping in view of the principle of prudence.
 
 Taxes on Income
 
 Tax expense comprises 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. Deferred income taxes
 reflects 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 and deferred tax liabilities are offset, if a legally
 enforceable right exists to set off current tax assets against current
 tax liabilities and the deferred tax assets and deferred tax
 liabilities relate to the taxes on income levied by same governing
 taxation laws. Deferred tax assets are recognised 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 unrecognised
 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 realised.
 
 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 it 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 recognised 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.
 
 Earnings per Share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the period attributable to equity shareholders by the weighted
 average number of equity shares outstanding during the period.
 
 The weighted average number of equity shares outstanding during the
 period is adjusted for events of bonus issue; 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.
 
 Employee Stock Option Scheme
 
 The Company has formulated an Employees Stock Option Scheme to be
 administered through a Trust. The scheme provides that subject to
 continued employment with the Company or the Group, employees of the
 Company and its subsidiaries are granted an option to acquire equity
 shares of the Company that may be exercised within a specified period.
 The Company follows the intrinsic value method for computing the
 compensation cost for all options granted which will be amortized over
 the vesting period.
 
 Provisions, Contingent liabilities and contingent assets
 
 Provisions are recognized for liabilities that can be measured by using
 a substantial degree of estimation, if
 
 (a) The company has a present obligation as a result of past event,
 
 (b) A probable outflow of resources is expected to settle the
 obligation; and
 
 (c) The amount of the obligation can be reliably estimated.
 
 Reimbursement expected in respect of expenditure required to settle a
 provision is recognized only when it is virtually certain that the
 reimbursement will be received.
 
 Contingent liability is disclosed in case of
 
 (a) A present obligation arising from past events, when it is not
 probable that an outflow of resources will be required to settle the
 obligation; or
 
 (b) A present obligation arising from past events, when no reliable
 estimate is possible; or
 
 (c) A possible obligation arising from past events where the
 probability of outflow of resources is not remote.
 
 Contingent assets are neither recognized, nor disclosed.
 
 Provisions, contingent liabilities and contingent assets are reviewed
 at each Balance Sheet date.
 
 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.
 
 Derivative Instruments
 
 As per the ICAI Announcement, accounting for derivative contracts,
 other than those covered under AS-11, are marked to market on a
 portfolio basis, and the net loss is charged to the income statement.
 Net gains are ignored.