To
 The Shareholders, 
 NUMERO UNO PROJECTS LTD. 
  
 The Directors have pleasure in presenting the Thirtieth Annual Report
 together with the Audited Statement Accounts for the year ended 31st
 March, 2004.
  
 FINANCIAL RESULTS 
  
 The financial results of the company are as under: 
  
                                           Current Year   Previous year 
                                                 Rs.            Rs. 
                                            31.03.2004      31.03.2003 
  
 Profit/(Loss) Before 
 Depreciation and tax                        (300.347)     (2.310,060)
 
 Less : Depreciation                             1,353           1,353
 
 Profit/(Loss) before taxes                  (301,700)     (2,311,403)
 
 Less: Provision for taxation                      NIL             NIL
 
 Profit/(Loss) After Taxation                (301,700)     (2,311,403)
 
 Balance brought forward from 
 earlier years                            (29,203,389)    (26,891,966)
 
 Balance carried forward to 
 Balance Sheet                            (29,505,099)    (29,203,389) 
  
 OPERATION 
  
 During the year under review, the Company has not been able to perform
 well because of a general slump Market Conditions. Efforts would
 continue to generate increase in the volume of business in the year
 2003-04.
  
 During the year under review, your company had token material handling
 and labour contracts on behalf other construction companies. All the
 income for the year has been generated through such contracts same is
 expected to increase in the year 2003-04.
  
 FUTURE OUTLOOK 
  
 Some signs of recovery are being felt and the sane is predicted by the
 trade organizations in the near future Based on the above perception
 your Company is expected to do better in the year 2003-2004.
  
 DIVIDEND 
  
 The Directors do not recommend payment of any dividend to the
 shareholders for the year under review account of lose and accumulated
 losses of earlier years.
  
 DIRECTORS 
  
 Mr. Shrikant, Ghanti, in accordance with the provisions of the
 Companies Act, 1956 and the Articles of Association, retires by
 rotation and is eligible for reappointment.
  
 CORPORATE GOVERNANCE : 
  
 The Corporate Governance Report along with the auditor's certificate
 regarding compliance of the conditions of the corporate Governance as
 stipulated in clause 49 of the Listing Agreement of the Stock Exchange
 is attached herewith.
  
 PARTICULARS OF EMPLOYEES 
  
 Particulars of Employees, in accordance with the provision of section
 ?1? (2A) of the Companies Act, 1956, read with Companies (Particulars
 of Employees) Rules, 1988, are not given since no Employee was paid
 remuneration exceeding Rs.12,00,000/- per annum or Rs.100,0001- per
 month
  
 INFORMATION PURSUANT TO SECTION 217(1)(e) 
  
 Information pursuant to section 217(1)(e) of the Companies Act, 1956
 read with Companies (Disclosure of particulars in the report of the
 Hoard of Directors) Rules, 1988,
  
 (1) CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN-EXCHANGE
 EARNINGS AND OUTGO.
  
 Adequate measures have been taken to avoid wastage of energy Other
 parties of these Rules are not applicable to the Company.
  
 INDUSTRIAL RELATIONS: 
  
 The company continues to maintain harmonious & cordial relation with
 its customers, Clients, workers, supervisors & Offices at all levels.
  
 DIRECTORS RESPONSIBILITY STATEMENT U/S 217 (2AA) 
  
 The Directors would like to assure the Members that the financial
 statements for the year under review, confirm in their entirety to the
 requirements of the Companies Act, 1956.
  
 The Directors confirm: 
  
 1) That in the preparation of the annual accounts, the applicable
 accounting standards have been followed and that no material departures
 have been made from the same
  
 2) That the directors have selected the accounting policies and replied
 upon them consistently and have the made judgments and estimates that
 are reasonable and prudent so as to give a true and fair view of the
 state of affairs of tire company at the end of the financial year and
 of the profit and loss of the company for that period;
  
 3) That the directors have taken proper and sufficient care for
 maintenance of adequate accounting records in accordance with the
 provision of the Companies Act, 1956 for the safeguard of the assets of
 the Company and for preventing and detecting fraud and other
 irregularities and
  
 4) That the Directors had prepared the annual accounts of going concern
 basis.
  
 PUBLIC FIXED DEPOSITS : 
  
 The Company has no public deposit of and will not accept any deposit
 without prior approval of the statutory authorities concerned.
  
 INFORMATION PURSUANT TO CLAUSE 32 
  
 The Cash flow statement pursuant to clause 32 of the listing agreement
 is provided along with the notes to accounts.
  
 AUDITORS 
  
 M/s. Kaushik Joshi Associates, Chartered Accountants, retire at the
 ensuing Annual General Meeting of the Company and eligible for
 re-appointment.
  
 The observation of the Auditors in the report has been dealt with in
 the dotes forming parts of the Accounts.
  
 The Directors recommend the re-appointment of M/s.Kaushik Joshi
 Associates as Auditors of the s Company to hold office until the
 conclusion of the Next Annual General Meeting of the Company,
  
 ACKNOWLEDGMENET 
  
 The Directors wish to convey their gratitude to the company's clients,
 bankers, shareholders and employees for their valued support extended
 to the Company.
  
                                      FOR AND ON BEHALF OF THE BOARD 
  
                                            HARISH D. RUPAREL 
                                                CHAIRMAN 
  
 PLACE: Mumbai
 DATED: 15.07.2004