a.  Basis of preparation of financial statements
 
 The financial statements are prepared under historical cost convention,
 in accordance with the Accounting Principles Generally Accepted in
 India (''Indian GAAP'') and the provisions of Companies Act, 1956.
 
 b.  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 company, 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 these 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 current year.
 
 c.  Use of estimates
 
 The preparation of financial statements in conformity with the Generally
 Accepted Accounting Principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and the disclosure of contingent liabilities on the date of
 the financial statements. Actual results could differ from those
 estimates. Any revision to accounting estimates is recognized
 prospectively in current and future periods.
 
 d.  Fixed assets
 
 Fixed assets are stated at historical cost less accumulated
 depreciation. Cost includes purchase price and all other attributable
 cost to bring the assets to its working condition for the intended use.
 
 e.  Depreciation
 
 Depreciation on fixed assets is provided on written down value method in
 the manner and rates prescribed in Schedule XIV to the Companies Act,
 1956 except in the case of steel shuttering and scaffolding material,
 which is treated as part of plant and machinery where the estimated
 useful life based on technical evaluation has been determined as five
 years.
 
 Cost of building constructed on land owned by third party under ''Build
 Own Transfer'' agreement is amortized over the period of the agreement.
 
 f.  Intangible assets
 
 Intangible assets comprising of ERP & other computer software''s are
 stated at cost of acquisition less accumulated amortization and are
 amortised over a period of four years on straight line method.
 
 g.  Borrowing costs
 
 Borrowing cost that are directly attributable to the acquisition or
 construction of a qualifying asset (including real estate projects) are
 considered as part of the cost of the asset/ project. All other
 borrowing costs are treated as period cost and charged to the statement
 of Profit and loss in the year in which incurred.
 
 h.  Impairment of assets
 
 The Company assesses at each balance sheet date whether there is any
 indication that an asset may be impaired. If any such indication
 exists, the Company estimates the recoverable amount of the asset. If
 such recoverable amount of the asset or the recoverable amount of the
 cash-generating unit to which the asset belongs is less than its
 carrying amount, the carrying amount is reduced to its recoverable
 amount. The reduction is treated as an impairment loss and is
 recognized in the statement of Profit and loss.
 
 i.  Investments
 
 Long-term investments are stated 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 stated at lower of cost or market value.
 
 j.  Inventories
 
 i. Building material and consumable stores are valued at cost, which is
 determined on the basis of the ''First in First out'' method.
 
 ii. Land is valued at cost, which is determined on average method. Cost
 includes cost of acquisition and all related costs.
 
 iii. Construction work in progress is valued at cost. Cost includes
 cost of material, services and other related overheads related to
 project under construction.
 
 iv. Completed real estate project for sale and trading stock are valued
 at lower of cost or net realizable value. Cost includes cost of
 materials, services and other related overheads.
 
 k.  Projects in progress
 
 Projects in progress are valued at cost. Cost includes cost of land,
 materials, construction, services, borrowing costs and other overheads
 relating to projects.
 
 l.  Revenue recognition
 
 i.  Real estate projects
 
 Revenue from real estate projects is recognized on the ''Percentage of
 Completion method'' (POC) of accounting.
 
 Revenues under the POC method is recognized on the basis of percentage
 of actual costs incurred, including land, construction and development
 cost of projects under execution subject, to such actual cost being 30
 percent or more of the total estimated cost of projects.
 
 The stage of completion under the POC method is measured on the basis
 of percentage that actual costs incurred on real estate projects
 including land, construction and development cost bears to the total
 estimated cost of the project.  The estimates of the projected
 revenues, projected Profits, projected costs, cost to completion and the
 foreseeable loss are reviewed periodically by the management and any
 effect of changes in estimates is recognized in the period in which
 such changes are determined.
 
 Unbilled revenue disclosed under other assets represents revenue
 recognized over and above amount due as per payment plan. Progress
 billings which exceeds the cost and recognized Profits to date on
 projects in progress ,the same is disclosed as advance received from
 customers under other current liabilities. Any billed amount not
 collected is disclosed under trade receivable.
 
 ii. Interest due on delayed payments by customers is accounted on
 receipts basis due to uncertainty of recovery of the same and is
 treated as part of operating income.
 
 iii.  Income from construction contracts
 
 Revenue from construction contracts is recognized on the ''Percentage of
 Completion method'' of accounting.
 
 Income from construction contracts is recognized by reference to the
 stage of completion of the contract activity as certified by the client.
 
 Revenue on account of contract variations, claims and incentives are
 recognized upon determination or settlement of the contract.
 
 iv.  Income from trading sales
 
 Revenue from trading activities is accounted for on accrual basis.
 
 v. Dividend income is recognized when the right to receive the payment
 is established.
 
 m.  Foreign currency transactions
 
 i. Foreign currency transactions are recorded at exchange rates
 prevailing on the date of respective transactions.
 
 ii. Current assets and current liabilities in foreign currencies
 existing at balance sheet date are translated at year-end rates.
 
 iii. Foreign currency translation differences related to acquisition of
 imported fixed assets are adjusted in the carrying amount of the related
 fixed assets. All other foreign currency gains and losses are recognized
 in the statement of Profit and loss.
 
 iv. Foreign Exchange difference arising as a monetary item that, in
 substance, form part of company''s net investment is a non-integral
 foreign operation and is accumulated in a Foreign Currency Translation
 Reserve in the financial statement until the disposal of net investment
 at which time it is recognized as income or expenses.
 
 n.  Accounting for taxes on income
 
 i. Provision for current tax is made based on the tax payable under the
 Income Tax Act, 1961.
 
 ii. Deferred tax on timing differences between taxable and accounting
 income is accounted for, using the tax rates and the tax laws enacted
 or substantially enacted as on the balance sheet date. Deferred tax
 assets are recognized only when there is a reasonable certainty of
 their realization. Wherever there are unabsorbed depreciation or carry
 forward losses under Tax laws, Deferred tax assets are recognized only
 to the extent that there is a virtual certainty of their realization.
 
 o.  Retirement benefits
 
 i. Contributions payable by the Company to the concerned government
 authorities in respect of provident fund, family pension fund and
 employee state insurance are charged to the statement of Profit and
 loss.
 
 ii. The Company is having Group Gratuity Scheme with Life Insurance
 Corporation of India. Provision for gratuity is made based on actuarial
 valuation in accordance with Revised AS-15.
 
 iii. Provision for leave encashment in respect of unavailed leave
 standing to the credit of employees is made on actuarial basis in
 accordance with Revised AS-15.
 
 p.  Provisions, contingent liabilities and contingent assets
 
 A provision is recognized when: the Company has a present obligation as
 a result of a past event; it is probable that an outflow of resources
 embodying economic benefits will be required to settle the obligation;
 and a reliable estimate can be made of the amount of the obligation.
 
 A disclosure for a contingent liability is made when there is a
 possible obligation or a present obligation that may, but probably will
 not, require an outflow of resources. Where there is a possible
 obligation or a present obligation that the likelihood of outflow of
 resources is remote, no provision or disclosure is made.
 
 q.  Operating lease
 
 Lease arrangements where the risk and rewards incident to ownership of
 an assets substantially vest with the lessor are recognized as
 operating lease. Lease rent under operating lease are charged to
 statement of Profit and loss on a straight line basis over the lease
 term.
 
 r.  Employee stock compensation cost
 
 In respect of stock options granted by the Company, the intrinsic value
 of the options (excess of market price of the shares over the exercise
 price of the option) is treated as employee compensation cost and is
 amortised over the vesting period.
 
 s.  Share issue expenses
 
 Share issue expenses are adjusted against the securities premium
 account.
 
 1.2 Terms / rights attached to shares
 
 Equity
 
 The company has only one class of equity shares having a par value of
 -10/- per share. Each holder of equity shares is entitled to one vote
 per share. The company declares and pays dividend in Indian rupees. The
 dividend proposed by board of directors is subject to the approval of
 the shareholders in the ensuing Annual general meeting. In the event of
 liquidation of the company, the holders of equity shares will be
 entitled to receive remaining assets of the company, after distribution
 of all preferential amounts. The distribution will be in proportion to
 the number of equity shares held by the share holders.
 
 Preference
 
 The company has one class of preference shares having a par value of
 -10/-per share. Each holder of preference shares shall not be entitled
 to vote at any general meeting of the members of the Company in
 relation to any of the matters solely by virtue of holding preference
 shares. The preference Shares shall be eligible for dividend at the
 rates prescribed by the Board of the Company at the time of issuance.
 The Preference Shares shall be redeemed as per the terms of the issue.
 No preference share capital has yet been issued by the company.
 
 1.5 Shares reserved for issue under options
 
 The Company has adopted Omaxe ESOP Plan Beta in the Annual General
 Meeting held on September 27, 2007. The total number of shares
 available in the plan is 3% of the total issued and subscribed share
 capital of the Company. However, no options have been granted till
 date.