1.  BASIS OF PREPARATION :
 
 The Financial Statements are prepared under the historical cost
 convention in accordance with generally accepted Accounting Principles
 (GAAP) and materially comply with the Mandatory Accounting Standards
 issued by the Institute of Chartered Accountants of India and the
 provision of the Companies Act, 1956. All Income & Expenditure having a
 material bearing on the Financial Statements are recognized on Accrual
 basis.
 
 2.  USE OF ESTIMATES :
 
 The preparation of Financial Statement in conformity with GAAP requires
 management to make estimates and assumption that affect the reported
 amount of Assets & Liabilities, disclosure of Contingent Liabilities at
 the date of the Financial Statements and the reported amounts of
 revenues and expenses during the reporting period. The actual results
 could differ from these estimates.
 
 3.  VALUATION OF FIXED ASSETS :
 
 Fixed Assets are stated at the cost of acquisition or Construction less
 Depreciation provided thereon.
 
 4.  DEPRECIATION :
 
 i) Depreciation on Fixed Assets is provided on S.L.M Method at the
 rates as prescribed by Schedule XIV of The Companies Act, 1956.
 
 ii) Depreciation is charged on pro-rata basis for assets Purchased /
 Sold during the year.
 
 iii) Land (whether Freehold or leasehold) is not depreciated.
 
 5.  BORROWING COSTS :
 
 Borrowing costs that are directly attributable to the production of
 qualifying assets (i.e.  Commercial Complexes) are capitalized, while
 the other borrowing costs are capitalized to Capital Work in progress.
 
 6.  INVESTMENTS :
 
 The long-term investments are stated at cost. Temporary decline in the
 value of investment (if any) is not recognized.
 
 7.  VALUATION OF INVENTORIES :
 
 Closing Stock are as valued, taken and certified by the Director.
 
 i) Stores, Spares, Building Materials, Loose Tools are valued at cost.
 
 ii) Raw Materials are valued at cost.
 
 iii) Project Work in Progress is valued at cost on the basis of
 completion of work
 
 8.  REVENUE RECOGNITION :-
 
 Revenue from business and other Related Business (Business Conducting
 Charges) is recognized on the accrual basis and of percentage of block
 sales.
 
 9.  PERSONAL EXPENSES :
 
 Director has certified that no personal expenses have been charged in
 the accounts during the year.