a) Change in accounting policy
 
 Presentation and disclosure of financial statements During the year
 ended March 31, 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 by the Company 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 current year
 
 b) use of estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period.  Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.  Significant estimates used by the management in
 the preparation of these financial statements include computation of
 percentage completion for projects in progress, project cost, revenue
 and saleable area estimates, classification of assets and liabilities
 into current and non-current, estimates of the economic useful lives of
 fixed assets, provisions for bad and doubtful debts. Any revision to
 accounting estimates is recognised prospectively
 
 c) Tangible and Intangible fixed assets
 
 i.  Tangible fixed assets
 
 Tangible fixed assets are stated at cost, less accumulated depreciation
 and impairment losses, if any. Cost comprises the purchase price and
 any attributable cost of bringing the asset to its working condition
 for its intended use. Any trade discounts and rebates are deducted in
 arriving at the purchase price.
 
 Borrowing costs directly attributable to acquisition of fixed assets
 which take substantial period of time to get ready for its intended use
 are also included to the extent they relate to the period till such
 assets are ready to be put to use.
 
 Gains or losses arising from derecognition of fixed assets are measured
 as the difference between the net disposal proceeds and the carrying
 amount of the asset and are recognized in the statement of profit and
 loss when the asset is derecognized.
 
 ii.  Intangible fixed assets
 
 Intangible assets acquired separately are measured on initial
 recognition at cost. Following initial recognition, intangible assets
 are carried at cost less accumulated amortization and accumulated
 impairment losses, if any. Intangible assets are amortized on a
 straight line basis over a period of 3 years, which is estimated to be
 the useful life of the asset.
 
 d) Depreciation on tangible fixed assets
 
 Depreciation on assets, other than those described below, is provided
 using written down value method at the rates prescribed under schedule
 XIV of the Companies Act, 1956, which is also estimated by the
 management to be the estimated useful lives of the assets.
 
 Steel scaffolding items are depreciated using straight line method over
 a period of 6 years, which is estimated to be the useful life of the
 asset.
 
 Assets individually costing less than or equal to Rs 5,000 are fully
 depreciated in the year of purchase Leasehold land where title does not
 pass to the Company and leasehold improvements are amortised over the
 remaining primary period of lease or their estimated useful life,
 whichever is shorter, on a straight-line basis.
 
 e) Impairment of tangible and intangible assets
 
 The Company assesses at each reporting date whether there is any
 indication that an asset may be impaired. If any indication exists, the
 Company estimates the asset''s recoverable amount. An asset''s
 recoverable amount is the higher of an asset''s or cash-generating
 unit''s (CGU) net selling price and its value in use. The recoverable
 amount is determined for an individual asset, unless the asset does not
 generate cash inflows that are largely independent of those from other
 assets or groups of assets. Where the carrying amount of an asset or
 CGU exceeds its recoverable amount, the asset is considered impaired
 and is written down to its recoverable amount. In assessing value in
 use, the estimated future cash flows are discounted to their present
 value using a pre-tax discount rate that reflects current market
 assessments of the time value of money and the risks specific to the
 asset. In determining net selling price, recent market transactions are
 taken into account, if available. If no such transactions can be
 identified, an appropriate valuation model is used. Impairment losses,
 including impairment on inventories, are recognised in the statement of
 profit and loss.
 
 After impairment, depreciation is provided on the revised carrying
 amount of the asset over its remaining useful life
 
 f) Leases
 
 Where the Company is lessee Finance leases, which effectively transfer
 to the Company substantially all the risks and benefits incidental to
 ownership of the leased asset, are capitalized at the lower of the fair
 value and present value of the minimum lease payments at the inception
 of the lease term and disclosed as leased assets Lease payments are
 apportioned between the finance charges and reduction of the lease
 liability based on the implicit rate of return. Finance charges are
 recognized as finance costs in the statement of profit and loss.
 
 A leased asset is depreciated on a straight-line basis over the lower
 of the lease term or the estimated useful life of the asset unless
 there is reasonable certainty that the Company will obtain ownership,
 wherein such assets are depreciated over the estimated useful life of
 the asset.
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased term, are classified as
 operating leases.  Operating lease payments are recognized as an
 expense in the statement of profit and loss on a straight-line basis
 over the lease term.
 
 g) Investments
 
 Investments that are readily realisable and intended to be held for not
 more than a year are classified as current investments. All other
 investments are classified as long-term investments.
 
 On initial recognition, all investments are measured at cost. The cost
 comprises purchase price and directly attributable acquisition charges
 such as brokerage, fees and duties. If an investment is acquired, or
 partly acquired, by the issue of shares or other securities, the
 acquisition cost is the fair value of the securities issued.
 
 Current investments are carried at lower of cost and fair value
 determined on an individual investment basis. Long-term investments are
 carried at cost.  However, provision for diminution in value is made to
 recognise a decline other than temporary in the value of the
 investments.
 
 On disposal of an investment, the difference between its carrying
 amount and net disposal proceeds is charged or credited to the
 statement of profit and loss.
 
 h) Inventories
 
 Related to contractual and real estate activity Direct expenditure
 relating to construction activity is inventorised. Other expenditure
 (including borrowing costs) during construction period is inventorised
 to the extent the expenditure is directly attributable cost of bringing
 the asset to its working condition for its intended use. Other
 expenditure (including borrowing costs) incurred during the
 construction period which is not directly attributable for bringing the
 asset to its working condition for its intended use is charged to the
 statement of profit and loss. Direct and other expenditure is
 determined based on specific identification to the construction and
 real estate activity. Cost incurred/ items purchased specifically for
 projects are taken as consumed as and when incurred/ received.
 
 i.  Work-in-progress - Contractual: Cost of work yet to be certified/
 billed, as it pertains to contract costs that relate to future activity
 on the contract, are recognised as contract work-in-progress provided
 it is probable that they will be recovered. Contractual
 work-in-progress is valued at lower of cost and net realisable value.
 
 ii.  Work-in-progress - Real estate projects (including land
 inventory): Represents cost incurred in respect of unsold area of the
 real estate development projects or cost incurred on projects where the
 revenue is yet to be recognised. Real estate work-in- progress is
 valued at lower of cost and net realisable value.
 
 iii. Finished goods - Flats: Valued at lower of cost and net realisable
 value.
 
 iv.  Finished goods - Plots: Valued at lower of cost and net realisable
 value.
 
 v.  Building materials purchased, not identified with any specific
 project are valued at lower of cost and net realisable value. Cost is
 determined based on a weighted average basis.
 
 vi.  Land inventory: Valued at lower of cost and net realisable value.
 Land inventory which is under development or held for development/ sale
 in near future is classified as current asset. Land which held for
 undetermined use or for future development is classified as non current
 asset.
 
 Related to manufacturing activity
 
 i.  Raw materials are valued at lower of cost and net realisable value.
 Cost is determined based on a weighted average basis.
 
 ii.  Work-in-progress and finished goods are valued at lower of cost
 and net realisable value. Cost includes direct materials and labour and
 a proportion of manufacturing overheads based on normal operating
 capacity. Cost of finished goods includes excise duty.
 
 Net realisable value is the estimated selling price in the ordinary
 course of business, less estimated costs of completion and estimated
 costs necessary to make the sale. However, inventory held for use in
 production of finished goods is not written down below cost if the
 finished products in which they will be incorporated are expected to be
 sold at or above cost.
 
 i) Revenue recognition
 
 Revenue is recognised to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured. Revenue from operations (gross) is net of sales tax/
 value added tax and adjustments on account of cancellation/ returns.
 Excise duty deducted from revenue (gross) is the amount that is
 included in the revenue (gross) and not the entire amount of liability
 arising during the year.
 
 i.  Recognition of revenue from contractual projects
 
 If the outcome of contractual contract can be reliably measured,
 revenue associated with the construction contract is recognised by
 reference to the stage of completion of the contract activity at year
 end (the percentage of completion method).  The stage of completion on
 a project is measured on the basis of completion of a physical
 proportion of the contract work/ based upon the contracts/ agreements
 entered into by the Company with its customers.
 
 ii.  Recognition of revenue from real estate projects
 
 Revenue from real estate projects is recognised when it is reasonably
 certain that the ultimate collection will be made and that there is
 buyers'' commitment to make the complete payment.
 
 The following specific recognition criteria must also be met before
 revenue is recognized:
 
 a.  Recognition of revenue from property development
 
 Recognition of revenue from construction activity
 
 Revenue from real estate under development/ sale of developed property
 is recognised upon transfer of all significant risks and rewards of
 ownership of such real estate/ property, as per the terms of the
 contracts entered into with buyers, which generally coincides with the
 firming of the sales contracts/ agreements, except for contracts where
 the Company still has obligations to perform substantial acts even
 after the transfer of all significant risks and rewards.
 
 In such cases, the revenue is recognised on percentage of completion
 method, when the stage of completion of each project reaches a
 reasonable level of progress. Revenue is recognised in proportion that
 the contract costs incurred for work performed up to the reporting date
 bear to the estimated total contract costs.  Land costs are not
 included for the purpose of computing the percentage of completion.
 
 Recognition of revenue from sale of undivided share of land [group
 housing]
 
 Revenue from sale of undivided share of land [group housing] is
 recognised upon transfer of all significant risks and rewards of
 ownership of such real estate/ property, as per the terms of the
 contracts entered into with buyers, which generally coincides with the
 firming of the sales contracts/ agreements and/ or minimum level of
 collection of dues from the customer
 
 Recognition of revenue from sale of villa plots
 
 Revenue from sale of villa plots is recognised upon transfer of all
 significant risks and rewards of ownership of such real estate/
 property, as per the terms of the contracts entered into with buyers,
 which generally coincides with the firming of the sales contracts/
 agreements.
 
 Revenue from real estate projects include charges collected from
 clients and are accounted based upon the contracts/ agreements entered
 into by the Company with its customers.
 
 b.  Recognition of revenue from sale of land and development rights
 
 Revenue from sale of land and development rights is recognised upon
 transfer of all significant risks and rewards of ownership of such real
 estate/ property, as per the terms of the contracts entered into with
 buyers, which generally coincides with the firming of the sales
 contracts/ agreements.
 
 iii. Recognition of revenue from manufacturing division
 
 Revenue from sale of materials is recognised when the significant risks
 and rewards of ownership of the goods have passed to the buyer which
 coincides with dispatch of goods to the customers. Excise duty deducted
 from turnover (gross) is the amount that is included in the amount of
 turnover (gross) and not the entire amount of liability arising during
 the year. Service income is recognised on the basis of completion of a
 physical proportion of the contract work/ based upon the contracts/
 agreements entered into by the Company with its customers.
 
 iv.  Dividend income
 
 Revenue is recognised when the shareholders'' or unitholders'' right to
 receive payment is established by the balance sheet date.
 
 v.  Share in profits of partnership firm investments
 
 The Company''s share in profits from a firm where the Company is a
 partner, is recognised on the basis of such firm''s audited accounts, as
 per terms of the partnership deed.
 
 vi.  Interest income
 
 Income is recognised on a time proportion basis taking into account the
 amount outstanding and the rate applicable.
 
 j) Foreign currency translation
 
 Foreign currency transactions are recorded in the reporting currency,
 by applying to the foreign currency amount the exchange rate between
 the reporting currency and the foreign currency at the date of the
 transaction. Foreign currency monetary items are reported using the
 exchange rate prevailing at the reporting rate. Non-monetary items,
 which are measured in terms of historical cost denominated in a foreign
 currency, are reported using the exchange rate at the date of the
 transaction. Exchange differences arising on the settlement of monetary
 items or on reporting monetary items of Company at rates different from
 those at which they were initially recorded during the year, or
 reported in previous financial statements, are recognised as income or
 as expenses in the year in which they arise.
 
 k) Taxes
 
 Tax expense comprises of current and deferred tax.
 
 Current income tax is measured at the amount expected to be paid to the
 tax authorities in accordance with the Indian Income Tax Act. Deferred
 income taxes reflects the impact of current year timing differences
 between taxable income and accounting income for the year and reversal
 of timing differences of earlier years.
 
 Deferred tax is measured based on the tax rates and the tax laws
 enacted or substantively enacted at the balance sheet date. Deferred
 tax assets are recognised only to the extent that there is reasonable
 certainty that sufficient future taxable income will be available
 against which such deferred tax assets can be realised. In situations
 where the Company has unabsorbed depreciation or carry forward tax
 losses, all deferred tax assets are recognised only if there is virtual
 certainty supported by convincing evidence that they can be realised
 against future taxable profits. At each balance sheet date the Company
 re-assesses unrecognised deferred tax assets. It recognises
 unrecognised deferred tax assets to the extent that it has become
 reasonably certain or virtually certain, as the case may be, that
 sufficient future taxable income will be available against which such
 deferred tax assets can be realised.
 
 The carrying amount of deferred tax assets are reviewed at each balance
 sheet date. The Company writes-down the carrying amount of a deferred
 tax asset to the extent that it is no longer reasonably certain or
 virtually certain, as the case may be, that sufficient future taxable
 income will be available against which deferred tax asset can be
 realised.
 
 Minimum Alternative tax (MAT) credit is recognised as an asset only
 when and to the extent there is convincing evidence that the Company
 will pay normal income tax during the specified period. In the year in
 which the MAT credit becomes eligible to be recognized as an asset in
 accordance with the recommendations contained in Guidance Note issued
 by the Institute of Chartered Accountants of India, the said asset is
 created by way of a credit to the statement of profit and loss and
 shown as MAT Credit Entitlement. The Company reviews the same at each
 balance sheet date and writes down the carrying amount of MAT Credit
 Entitlement to the extent there is no longer convincing evidence to the
 effect that Company will pay normal income tax during the specified
 period.
 
 l) Retirement and other employee benefits
 
 Retirement benefits in the form of provident fund is a defined
 contribution scheme and the contributions are charged to the statement
 of profit and loss of the year when the contributions to the provident
 fund are due. There are no other obligations other than the
 contribution payable to the government administered provident fund.
 
 The Company makes contributions to Sobha Developers Employees Gratuity
 Trust (''the trust'') to discharge the gratuity liability to employees.
 Provision towards gratuity, a defined benefit plan, is made for the
 difference between actuarial valuation by an independent actuary and
 the fund balance, as at the year-end. The cost of providing benefits
 under gratuity is determined on the basis of actuarial valuation using
 the projected unit credit method at each year end.  Actuarial gains and
 losses are immediately taken to statement of profit and loss and are
 not deferred.
 
 Accumulated leave, which is expected to be utilized within the next 12
 months, is treated as short-term employee benefit. The Company measures
 the expected cost of such absences as the additional amount that it
 expects to pay as a result of the unused entitlement that has
 accumulated at the reporting date.
 
 The Company treats accumulated leave expected to be carried forward
 beyond twelve months, as long- term employee benefit for measurement
 purposes.  Such long-term compensated absences are provided for based
 on the actuarial valuation using the projected unit credit method at
 the year- end. The Company presents the entire leave as a current
 liability in the balance sheet, since it does not have an unconditional
 right to defer its settlement for twelve months after the reporting
 date. Actuarial gains/ losses are immediately taken to statement of
 profit and loss and are not deferred.
 
 Expense in respect of other short term benefits is recognised on the
 basis of the amount paid or payable for the period for which the
 services are rendered by the employee.
 
 m) Earnings per share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the year attributable to equity shareholders (after deducting
 preference dividends and attributable taxes) by the weighted average
 number of equity shares outstanding during the year. The weighted
 average number of equity shares outstanding during the year is adjusted
 for events of bonus issue.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the year attributable to equity shareholders and the
 weighted average number of shares outstanding during the year are
 adjusted for the effects of all dilutive potential equity shares.
 
 n) Provisions
 
 A provision is recognised when the Company has a present obligation as
 a result of past event, it is probable that an outflow of resources
 will be required to settle the obligation, in respect of which a
 reliable estimate can be made. Provisions are not discounted to its
 present value and are determined based on the best estimate required to
 settle the obligation at the balance sheet date. These are reviewed at
 each balance sheet date and adjusted to reflect the current best
 estimates.
 
 o) Contingent liabilities
 
 A contingent liability is a possible obligation that arises from past
 events whose existence will be confirmed by the occurrence or
 non-occurrence of one or more uncertain future events beyond the con-
 trol of the Company or a present obligation that is not recognized
 because it is not probable that an outflow of resources will be
 required to settle the obligation. A contingent liability also arises
 in extremely rare cases where there is a liability that cannot be
 recognized because it cannot be measured reliably. The Company does not
 recognize a contingent liability but discloses its existence in the
 financial statements.
 
 p) Cash and cash equivalents
 
 Cash and cash equivalents for the purposes of cash flow statement
 comprise cash at bank and in hand and short-term investments with an
 original maturity of three months or less.
 
 q) Borrowing costs
 
 Borrowing costs directly attributable to acquisition/ construction of
 qualifying assets are capitalised until the time all substantial
 activities necessary to prepare the qualifying assets for their
 intended use are complete. A qualifying asset is one that necessarily
 takes substantial period of time to get ready for its intended use/
 sale. All other borrowing costs not eligible for inventorisation/
 capitalisation are charged to statement of profit and loss.
 
 r) Land
 
 Advances paid by the Company to the seller/ intermediary toward
 outright purchase of land is recognised as land advance under loans and
 advances during the course of obtaining clear and marketable title,
 free from all encumbrances and transfer of legal title to the Company,
 whereupon it is transferred to land stock under inventories.
 
 Deposits paid by the Company to the seller towards right for
 development of land in exchange of constructed area are recognised as
 security deposit under loans and advances, unless they are
 non-refundable, wherein they are recognised as land advance under loans
 and advances and is transferred to work-in-progress on the launch of
 project.
 
 The Company has entered into agreements with land owners/ possessor to
 develop properties on such land in lieu of which, the Company has
 agreed to transfer certain percentage of constructed area.
 
 The Company measures development rights/ land received under these
 agreements at cost of construction transferred, as adjusted for other
 cash/ non-cash consideration.
 
 s) Measurement of EBITDA
 
 As permitted by the Guidance Note on the Revised Schedule VI to the
 Companies Act, 1956, the Company has elected to present earnings before
 interest, tax, depreciation and amortization (EBITDA) as a separate
 line item on the face of the statement of profit and loss. The Company
 measures EBITDA on the basis of profit/ (loss) from continuing
 operations.
 
 In its measurement, the Company does not include depreciation and
 amortization expense, finance costs and tax expense.
 
 (b) Terms/ rights attached to equity shares
 
 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 the Board of directors is subject to the approval
 of the shareholders in ensuing Annual General Meeting. In event of
 liquidation of the Company, the holders of equity shares would 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 shareholders.