a) Accounting Convention:
 
 The financial statements are prepared under the historical cost
 convention in accordance with Generally Accepted Accounting Principles
 in India, the Accounting Standards notified under The Companies
 (Accounting Standard) Rules, 2006 and the relevant provisions of the
 Companies Act, 1956.
 
 b) Use of Estimates:
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires the management to make
 estimates and assumptions that affect the reported balances of assets
 and liabilities as of the date of the financial statements and reported
 amounts of income and expenses during the period. Management believes
 that the estimates used in the preparation of financial statements are
 prudent and reasonable.
 
 c) Fixed Assets:
 
 Fixed assets are stated at cost of acquisition or construction less
 accumulated depreciation. Cost includes all incidental expenses related
 to acquisition and installation, other pre operation expenses and
 interest in case of construction.
 
 The carrying amount of cash generating units / assets is reviewed at
 the balance sheet date to determine whether there is any indication of
 impairment. If such indication exists, the recoverable amount is
 estimated as the net selling price or value in use, whichever is
 higher. Impairment loss, if any, is recognized whenever carrying amount
 exceeds the recoverable amount.
 
 Depreciation on fixed assets is provided, on prorata basis, on the
 straight line method at the rates and in the manner prescribed in
 Schedule XIV to the Companies Act, 1956, except for:
 
 1.  Furniture & Fixtures, Plant & Machinery and Computers, individually
 costing more than Rs. 5,000, which are depreciated over their estimated
 useful lives of 5 years, and
 
 2.  Vehicles at 15 % per annum of cost.
 
 3.  Leasehold improvements are amortised over the period of lease.
 
 d) Intangible Assets:
 
 All Intangible Assets are initially measured at cost and amortised so
 as to reflect the pattern in which the assets economic benefits are
 consumed.
 
 Software expenses are treated as an intangible asset and amortised over
 the useful life of the asset. The maximum period for such amortization
 is 36 months
 
 e) Investments:
 
 Investments are classified into long term and current investments.
 
 Long-term investments are carried at cost. Provision for diminution, if
 any, in the value of each long-term investment is made to recognize a
 decline, other than of a temporary nature.
 
 Current investments are carried individually at lower of cost and fair
 value and the resultant decline, if any, is charged to revenue.
 
 f) Inventories:
 
 Inventories are stated at lower of cost and net realisable value. The
 cost of construction material is determined on the basis of weighted
 average method. Construction Work-in-Progress includes cost of land,
 premium for development rights, construction costs and allocated
 interest and expenses incidental to the projects undertaken by the
 Company.
 
 g) Revenue Recognition:
 
 Income from real estate sales is recognised on the transfer of all
 significant risks and rewards of ownership to the buyers and it is not
 unreasonable to expect ultimate collection and no significant
 uncertainty exists regarding the amount of consideration.  However if,
 at the time of transfer substantial acts are yet to be performed under
 the contract, revenue is recognised on proportionate basis as the acts
 are performed, i.e. on the percentage of completion basis. Revenues
 from real estate projects are recognised only when the actual project
 costs incurred exceeds 25 % of the total estimated project costs
 including land and when at least 10% of the sales consideration is
 realised.
 
 Revenue from sale of land and other rights are considered upon transfer
 of all significant risks and rewards of ownership of such real
 estate/property as per the terms of the contract entered into with the
 buyers, which is generally with the firmity of the sale
 contracts/agreements.
 
 Income from long term contracting assignments is also recognised on the
 percentage of completion basis. As the long term contracts necessarily
 extend beyond one year, revision in costs and revenues estimated during
 the course of the contract are reflected in the accounting period in
 which the facts requiring the revision become known. Any expected loss
 on a project is recognised in the year in which costs incurred together
 with the balance costs to completion are likely to be in excess of the
 estimated revenues from project. Unbilled costs are carried as
 construction work-in-progress.
 
 Determination of revenues under the percentage of completion method
 necessarily involves making estimates by the Company, some of which are
 of a technical nature, concerning, where relevant, the percentages of
 completion, costs to completion, the expected revenues from the
 project/activity and the foreseeable losses to completion.
 
 Project Management Fees receivable on fixed period contracts is
 accounted over the tenure of the contract/agreement. Where the
 management fee is linked to the input costs, revenue is recognised as a
 proportion of the work completed based on progress claims submitted.
 Where the management fee is linked to the revenue generation from the
 project, revenue is recognised on the percentage of completion basis.
 
 Income from operation of commercial complexes is recognised over the
 tenure of the lease/service agreement.
 
 Interest income is accounted on an accrual basis at contracted rates
 except where there is uncertainty of ultimate collection.
 
 Dividend income is recognised when the right to receive the same is
 established.
 
 h) Employee benefits:
 
 (i) Defined contribution Plans
 
 Companys contributions paid / payable during the year to Provident
 Fund and Superannuation Fund are recognised in the Profit and Loss
 Account.
 
 (ii) Defined Benefit Plan
 
 Companys liabilities towards gratuity and leave encashment are
 determined on actuarial basis using the projected unit credit method,
 which consider each period of service as giving rise to an additional
 unit of benefit and measures each unit separately to build up the final
 obligation. Past services are recognised on straight-line basis over
 the average period until the amended benefits become vested. Actuarial
 gain and losses are recognised immediately in the Statement of Profit
 and Loss Account as income or expense. Obligation is measured at the
 present value of estimated future cash flow using a discount rate that
 is determined by reference to market yields at the Balance Sheet date
 on government bonds where the currency and terms of the government
 bonds are consistent with the currency and estimated terms of the
 defined benefit obligation.
 
 (iii) In view of the past trends of leave availed, the amount of
 employee benefit in the form of compensated absences, being in the
 nature of short term benefit, is accounted for on accrual basis at an
 undiscounted value.
 
 i) Borrowing Costs:
 
 Borrowing costs that are directly attributable to long-term project
 management and development activities are capitalised as part of
 project cost. Other borrowing costs are recognised as expense in the
 period in which they are incurred.
 
 Borrowing costs are capitalised as part of project cost when the
 activities that are necessary to prepare the asset for its intended use
 or sale are in progress. Borrowing costs are suspended from
 capitalisation on the project when development work on the project is
 interrupted for extended periods.
 
 j) Provision for taxation:
 
 Tax expense comprises both current and deferred tax.
 
 Current tax is measured at the amount expected to be paid to the tax
 authorities, using the applicable tax rates and tax laws.
 
 Deferred tax assets and liabilities are recognised for future tax
 consequences attributable to the timing differences between taxable
 income and accounting income that are capable of reversal in one or
 more subsequent periods and are measured using tax rates enacted or
 substantively enacted as at the Balance Sheet date. Deferred Tax assets
 are not recognised unless, in the management judgment, there is virtual
 certainty that sufficient future taxable income will be available
 against which such deferred tax assets can be realised. The carrying
 amount of deferred tax is reviewed at each balance sheet date.
 
 k) Segment Information:
 
 The Company operates in three main segments; namely, Projects, Project
 Management and Development activities, Operating of commercial
 complexes and Business Centers. The segments have been identified and
 reported taking into account the differing risks and returns and the
 internal business reporting systems. Revenues and expenses have been
 identified to the
 
 segments based on their relationship to the business activity of the
 segment. Income/expenses relating to the enterprise as a whole and not
 allocable on a reasonable basis to business segments are reflected as
 unallocated corporate income/expenses.
 
 l) Provisions and Contingent Liabilities
 
 Provisions are recognised in the accounts in respect of present
 probable obligations, the amount of which can be reliably estimated.
 
 Contingent liabilities are disclosed in respect of possible obligations
 that arise from past events but their existence is confirmed by the
 occurrence or non-occurrence of one or more uncertain future events not
 wholly within the control of the Company.
 
 m) Employee stock compensation costs
 
 Measurement and disclosure of the employee share-based payment plans is
 done in accordance with SEBI (Employee Stock Option Scheme and Employee
 Stock Purchase Scheme) Guidelines, 1999 and the Guidance Note on
 Accounting for Employee Share-based Payments, issued by ICAI. The
 company measures compensation cost relating to employee stock options
 using the intrinsic value method. Compensation expense is amortized
 over the vesting period of the option on a straight line basis.