i).  Convention
 
 The financial statements are prepared under the historical cost
 convention in accordance with the applicable Accounting standards and
 relevant presentational requirements of the Companies Act, 1956.
 
 ii) Fixed Assets
 
 Fixed Assets are stated at cost less depreciation. Cost of acquisition
 or construction is inclusive of duties, taxes and other incidental
 expenses.
 
 iii).  Depreciation
 
 Depreciation on fixed assets is provided on straight line method as per
 rates specified in schedule XIV to Companies Act, 1956. Infrastructure
 project of commercial parking under ‘Build Operate and Transfer'' scheme
 of Noida is being depreciated over a period of 12.35 years, which is
 the remaining period of the license agreement after capitalisation, on
 straight line basis.
 
 iv).  Inventories
 
 Inventory of Real Estate business and of Traded Goods has been valued
 at cost or market price whichever is lower.
 
 v).  Transactions in Foreign Currency
 
 There were no foreign currency transactions during the year.
 
 vi).  Retirement Benefits:-
 
 Gratuity and Earned Leave have been provided for in the books of
 accounts on actuarial valuation basis at the end of the year.
 
 vii).  Interest
 
 Interest in respect of fixed deposits from public or with Bank have
 been accounted for on accrual basis.
 
 viii).  Recognition of Income/Expenditure
 
 All revenues and expenses are accounted for on accrual basis.