Note: Other Statutory Dues Includes Service Tax Payable, WCT Payable,
 VAT Payable, Conversion Charges Payable and P.EPayable.
 
 Other Expenses Payable Includes Electricity Expenses, Telephone
 Expenses, Audit Fees, Salary, Bonus, Director Remuneration & WIP
 Payable.
 
 1.  Presentation and disclosure of financial statements:
 
 During the year ended 31 March 2012, the revised Schedule VI notified
 under the Companies Act 1956, has become applicable to the companies,
 for preparation and presentation of its financial statements. The
 adoption of revised Schedule VI does not impact recognition and
 measurement principles followed for preparation of financial
 statements. However, it has significant impact on presentation and
 disclosures made in the financial statements. The Company has also
 reclassified the previous year figures in accordance with the
 requirements applicable in the currentyear.
 
 2.) Basic and diluted earnings per share is computed by dividing profit
 after tax attributable to equity shareholders for the year by the
 weighted average number of equity shares outstanding during the year.
 The Company has not issued any potential equity shares and accordingly,
 the basic earnings per share and diluted earnings per share are the
 same. Values used in calculating earnings per share are as under:
 
 3.) Related Party Disclosure
 
 Related parties and transactions with them as specified in the
 Accounting Standard 18 on Related Parties Disclosures issued by 1CAI
 has been identified and given below on the basis of information
 available with the Firm and the same has been relied upon by the
 auditors.
 
 a] Names of related parties and nature of related party relationship
 where control exists are as under:
 
 Group Company: Nimbus India Limited
 
 Nimbus Propmart Limited
 
 Nimbus Multicommodity Brokers Limited
 
 b) Names of other related parties and nature of relationship where
 entity has significant influence over parties:
 
 Companies/Firms in which Directors: have significant influence
 
 -IIT Investrust Ltd.
 
 -IIT Insurance Broking and Risk Management Pvt. Ltd.
 
 -IIT Media and Entertainment Pvt. Ltd.
 
 -World Resorts Ltd.
 
 -MRG Hotels Pvt. Ltd.
 
 -IITL Projects Ltd
 
 -Industrial Investment Trust Ltd
 
 -Capital Infra Projects Pvt. Ltd
 
 -IITL-Nimbus The Hyde Park
 
 -IITL-Nimbus, The Express Park View
 
 -IITL- Nimbus, The Palm Village
 
 Key Management Personnel: Mr. Bipin Agarwal (Managing Director)
 
 4.) Defined Benefit Plan
 
 The employee''s gratuity fund scheme managed by L.I.C. of India under a
 defined benefit plan. The present value of obligation is determined
 based on the actuarial valuation using the Projected Unit Credit
 Method, which recognizes each period of service as giving rise to
 additional unit of employee benefit entitlement and measures each unit
 separately to build up the final obligation.
 
 5.) The company had entered into a collaboration agreement, under
 joint control, to construct a commercial complex Pearl Business
 Park at Pitampura, Delhi. On revision ofthe project it was found
 thatthe project has been fully completed. The revenue from and interest
 in such entity has been accounted for as an investment in terms ofthe
 provisions of the AS-2 7.
 
 6.) The Company had launched a Group Housing Project Express Park
 View at Greater Noida in Sep. 2009. The Apartments are being planned
 on a Land admeasuring 9951.04 Sq. mtrs. situated at Plot No GH-10B,
 Sector CH1-V, Greater Noida, U.P., located in main Noida- Greater Noida
 Expressway. The proposed Flatted Residential Development shall
 encompass all important facilities and amenities such as well laid out
 roads and paths, landscaped areas and beautiful parks, street lights
 and well designed services to give world class comfort feeling to the
 residents. Project consisting of 332 flats in totality. Apartments
 shall be 2 Bed Rooms and 3 Bed Rooms in sizes varying 831sq.ft. to 1458
 sq.ft. On revision of the project it was found that 80% of the Civil
 Construction Work has been completed as on 31st March, 2012.
 
 The Company has booked total 248 Flats of varying sizes in the said
 project and has collected the booking amount of Rs. 30.61 Crore for the
 above said booking of flats till 31.03.2012.
 
 7.) The Company had entered into a Partnership IITL-NIMBUS THE HYDE
 PARK NOIDA in April 2010 with M/s IITL Projects Ltd. & M/s Supertech
 Ltd. to develop the Group Housing Project The Hyde Park at Plot No.
 GH-03, Sector 78, Noida. The agreed Capital Ratio between the partners
 is 45:45:10 and profit will be shared in the Weighted Average Capital
 Ratio. The Hyde Park Project for Residential Development shall
 encompass all important facilities and amenities such as well laid out
 roads and paths, landscaped areas and beautiful parks, street lights
 and well designed services to give world class comfort feeling to the
 residents. Project consisting of 1920 flats in totality. Apartments
 shall be of IBHK/ 2BHK/ 3BHK & 4BHK in sizes varying
 525sq.ft.to2235sq.ft.
 
 The Partnership Firm has booked total 959 Flats of varying sizes in the
 said project and has collected the booking amount of Rs.  153.2 5 Crore
 for the above said booking of flats till 31.03.2012.
 
 8.) During the year, the Company has entered as a Partner into below
 mentioned Partnership Firm for developing real estate projects:
 
 a) IITL-NIMBUS THE EXPRESS PARK VIEW - The Company with M/s IITL
 Projects Ltd. & M/s Assotech Ltd. has entered into Partnership in April
 2011, to develop the Group Housing Project Express Park View - II at
 Plot No. GH-03, Sector CHI-V, Greater Noida. The agreed Capital Ratio
 between the partners is 47.5:47.5:5 and profit will be shared in the
 Weighted Average Capital Ratio. The Express Park View II, Project for
 Residential Development shall encompass all important facilities and
 amenities such as well laid out roads and paths, landscaped areas and
 beautiful parks, street lights and well designed services to give world
 class comfort feeling to the residents. Project consisting of 1592
 flats in totality. Apartments shall be of IBHK/ 2BHK/ 3BHK & 4BHK in
 sizes varying 713sq.ft. to 2191 sq.ft.
 
 The Partnership Firm has booked total 135 Flats of varying sizes in the
 said project and has collected the booking amount of Rs.  6.50 Crore
 for the above said booking of flats till 31.03.2012.
 
 b) IITL-NIMBUS THE PALM VILLAGE - The Company with M/s IITL Projects
 Ltd. & M/s Assotech Ltd. has entered into Partnership in June 2011, to
 develop the Group Housing Project The Palm Village at Plot No.
 GH-03, Sector 22A, Greater Noida of Yamuna Expressway Industrial
 Development Authority. The agreed Capital Ratio between the partners is
 47.5:47.5:5 and profit will be shared in the Weighted Average Capital
 Ratio.
 
 9.) The company has purchased 50% shareholding (5000 Shares) of M/s
 Capital Infraproject Pvt. Ltd. in March 2011. A Plot of Land
 admeasuring approx. 40,000 sq. mtrs. at Plot No. GH-01/E, Sector - 168,
 Noida under scheme code GH-2010-(III) was allotted by the New Okhla
 Industrial Development Authority to M/s Capital Infraproject Pvt.
 Ltd. vide Allotment Letter dt.  17.08.2010, at which the company is
 developing a Group Housing Project. The Project The Golden Palms
 shall encompass all important facilities and amenities such as well
 laid out roads and paths, landscaped areas and beautiful parks, street
 lights and well designed services to give world class comfort feeling
 to the residents. Project consisting of 12 76 flats in totality.
 Apartments shall be of Studio Appt. / 2BHK/ 3BHK & 4BHK in sizes
 varying 506sq.ft. to 2494 sq.ft.
 
 The Company has booked total 591 Flats of varying sizes in the said
 project and has collected the booking amount of Rs. 59.15 Crore for the
 above said booking of flats till 31.03.2012.
 
 During the Previous Year the Company M/s Capital Infraproject Pvt.
 Ltd has issued 990000 shares and out of which our Company has
 purchased the 50% shares i.e. 495000. Our company holds 500000 shares
 of M/s Capital Infraproject Pvt. Ltd in totality as on 31.03.2012.
 
 10.) The Company had entered into a Partnership with M/s. Green Meadows
 Private Limited under the name and style of INDOGREEN INTERNATIONAL
 to develop a Hotel Project FORTUNE INN at Mandawali, Delhi.
 
 As per the reconstitution of the partnership, the share ofthe company
 in the said partnership has been increased from 50% to 90% and M/s.
 Green Meadows Private Limited has been retired from the partnership
 firm w.e.f. 01/04/2011 and a new partner M/s RCJ Investment Trust Pvt.
 Ltd. entered into the Partnership w.e.f. 01/04/2011.
 
 The Firm is a jointly controlled entity and prepares its own separate
 financial statements and will be assessed as Firm under the Income Tax
 Act. On revision of the project it was found that construction work is
 fully completed as on 31st March, 2012 & the finishing work is in
 progress. The Hotel is likely to Start from October 2012 onwards.
 
 11.) The company, with Hepta Developers Pvt. Ltd. has been carrying on
 a business under a Partnership Firm namely M/s Venkateshwara
 Constructions. The Company''s capital and Profit sharing ratio is 75%.
 The Firm is a jointly controlled entity and prepares its separate
 financial statements and is assessed as firm under the Income Tax Act
 1961.
 
 During the previous year, Partnership Firm M/s Venkateshwara
 Constructions is dissolved as on 12.03.2012. One Unit lying stock
 in Partnership Firm has been purchased by Nimbus Projects Limited and
 all other liabilities, Capital of Other partner is paid by the
 Partnership Firm.
 
 12.) The company is mainly engaged in Real Estate and Infrastructure
 Development activities which constitute Single Primary Business Segment
 as defined under As-17.
 
 13.) Leases:
 
 i) The Company has taken land on finance lease which have been shown as
 inventory. The lease term is on the basis of the agreement entered into
 with the lessor. The future minimum lease payment under non cancelable
 finance lease for each of the following periods are as follows:
 
 ii) The Company has given three office premises on operating lease for
 a period of thirty three (33) month from the date of execution of Leave
 and License Agreement. The company has received rental income of Rs.
 15,60,000/- from said three premises during the year.
 
 During the Previous Year company has given two more premises on
 operating lease on a monthly rent of Rs. 85,000/- P.M. The company has
 received rental income of Rs. 5,50,000/- from the said premises during
 the year.
 
 14.) There are no amounts due to the suppliers covered under the Micro,
 Small and Medium Enterprises Development Act, 2006; this information
 takes into account only those suppliers who have responded to the
 enquiries made by the Company for this purpose. This has been relied
 upon by the auditors.
 
 15.) In compliance with the Accounting Standard 27 on ''Financial
 Reporting of Interests in Joint Ventures'' as notified by the Companies
 (Accounting Standards) Rules, 2006, the Company has interests in the
 following jointly controlled entities:
 
 Note:
 
 1.  The Company''s share of assets, liabilities, income and expenditure
 has been included on the basis of audited financial information of its
 joint ventures.
 
 2.  Previous year figures are in brackets.
 
 16.) Figure ofthe previous year has been regrouped /
 rearranged/recasted wherever necessary to confirm the figures ofthe
 current year.