1.  Contingent liabilities not provided for in respect of :
 
                                                 Rs. in lacs
 
 Sl.  Particulars                           As at         As at
 No.                                        31-03-2011    31-03-2010
 
 i.  Sales Tax matters                          169.45        135.86
 
 ii.  Income-tax matters                         86.41         86.41
 
 iii.  Service Tax matters                       23.65             –
 
 iv.  Probable customs duty payable on the 
 Equipment Imported under Export
 Promotion Capital Goods Scheme                 126.56        144.69
 
 v.  Letters of Credit                          224.31         11.08
 
 vi.  Bank Guarantees-Others                    140.43        453.22
 
 vii.  Estimated amount of contracts remaining
 to be executed on capital account.            2422.66       3080.55
 
 viii.  Telephone charges in dispute with BSNL   13.73         13.73
 
 2.  None of the suppliers informed the Company regarding their status
 under Micro, Small and Medium Enterprises Development Act, 2006.
 Accordingly, dues to the suppliers under this Act could not be
 furnished.
 
 3.  Balances in current accounts under Cash and Bank balances include
 Rs.150.47 lacs (Rs. 139.20 lacs) on account of unclaimed dividends.
 
 4.  MANAGERIAL REMUNERATION :
 
 Computation of Profit under Section 349 of the Companies Act, 1956
 
 The Executive Chairman and Managing Director are entitled to commission
 @ 1% each of Net Profits computed in accordance with Section 349 of the
 Companies Act, 1956 after tax. Due to inadequacy of the profits no
 commission was provided for the year and the Company is in the process
 of submitting an application to the Central Government for approval of
 minimum remuneration as per the terms of appointment.
 
 5.  Deposits recoverable under Loans and Advances include the following
 paid under protest:
 
 i) Rs. 86.41 lacs, Rs. 18.77 lacs and Rs. 6.96 lacs paid under the Income Tax
 Act pertaining to A.Y 2003-04, A.Y 2007-08 and A.Y 2008-09
 respectively.
 
 ii) Rs. 45.12 lacs paid under the VAT Act pertaining to financial years
 2005-06 to 2008-09.
 
 6.  The Company has subscribed to 18000 Equity Shares of Rs. 10/- each
 of Green Infra Windfarms Limited, with whom the Company entered into a
 power purchase agreement for supply of 3 million units of power or
 5.65% of its actual generation whichever is less in order to comply
 with regulatory requirement for supply of such power.
 
 7.  Additional information pursuant to provisions of paragraphs 3, 4
 and 4D of Part II of Schedule VI of the Companies Act 1956.
 
 8.  a) Related Parties Disclosures
 
 The Company does not have any holding Company or Companies controlling
 the Company, as defined under Accounting Standard 18. The Company does
 not have any subsidiary Companies. Transactions with various Companies
 related to the Company by way of common directorships or firms in which
 directors are partners, are disclosed hereunder:
 
 Key Management personnel:
 
 Dr. G.V.Krishna Reddy Executive Chairman
 
 Smt.G.Indira Krishna Reddy Managing Director
 
 Smt.Shalini Bhupal Executive Director
 
 Joint Venture with
 
 Companies/Firms/Trust in which the key management
 
 and their relatives are interested:
 
 Accura Constructions (P) Ltd
 
 Accura Estates (P) Ltd
 
 Alaknanda Hydro Power Co Ltd (*)
 
 Allied Estates (P) Ltd
 
 Altitude Design & Development (P) Ltd
 
 Amtran Constructions (P) Ltd
 
 Anchor Estates (P) Ltd
 
 Appease Estates Private Limited
 
 Bengaluru Airport & Infrastructure Developers Pvt.Ltd (*)
 
 Bengaluru International Airport Ltd (*)
 
 Blue Streak Consultants (P) Ltd
 
 Blue Streak Land Holdings (P) Ltd
 
 Bonanza Real Estates (P) Ltd
 
 Caspian Capital & Finance (P) Ltd
 
 Casuarina Capital & Finanace (P) Ltd
 
 Classic Land Holdings (P) Ltd
 
 Consolidated Real Estates (P) Ltd
 
 Cygnus Real Estates (P) Ltd
 
 Delta Land Holdings (P) Ltd
 
 Dhaulasidh Power (P) Ltd
 
 Eagle Land Holdings (P) Ltd
 
 Fair Value Land Holdings (P) Ltd
 
 Fortune Real Estates (P) Ltd
 
 Fresenius Intraven (P) Ltd
 
 Gautami Power Ltd (*)
 
 Genesis Realtors (P) Ltd
 
 GIKR Land Holdings (P) Ltd
 
 Goldgreen Land Holdings (P) Ltd
 
 Goriganga Hydro Power Co.(P) Ltd
 
 Greenridge Hotels & Resorts(P)Ltd
 
 The Indian Hotels Company Limited
 
 JK Operation & Maintainance (P) Ltd
 
 KR Bhupal Land Holdings (P) Ltd
 
 KRAMB Land Holdings (P) Ltd
 
 KRBSB Estates Private Limited
 
 KRGV Land Holdings (P) Ltd
 
 Krishna Enterprises
 
 Lakshmi Enterprises
 
 Lepus Land Holdings (P) Ltd
 
 Mallikarjuna Estates (P) Ltd
 
 Mallikarjuna Finance (P) Ltd
 
 Marine Developers
 
 Marine Enterprises
 
 Marine Estates
 
 Marriot Land Holdings (P) Ltd
 
 Marwell Architects & Contractors (P) Ltd
 
 Metro Architects & Contractors (P) Ltd
 
 Midas Estates (P) Ltd
 
 MMR Constructions
 
 MR Constructions
 
 MRK Constructions
 
 Mumbai Airport Developers (P) Ltd
 
 Mumbai Aviation Fuel Form Facility (P) Ltd
 
 Mumbai International Airport (P) Ltd (*)
 
 Mystique Jewellery & Accessories P Ltd
 
 Novopan Industries Ltd (*)
 
 Orbit Travel & Tours (P) Ltd (*)
 
 Oxford Land Holdings (P) Ltd
 
 Pace Constructions (P) Ltd
 
 Pace Estates (P) Ltd
 
 Paigah House Hotel (P )Ltd
 
 GSR Land Holdings (P) Ltd
 
 GVK Airport Developers (P) Ltd
 
 GVK Airport Holdings (P) Ltd
 
 GVK Biosciences (P) Ltd (*)
 
 GVK Cements Pvt Ltd (*)
 
 GVK City (P) Ltd
 
 GVK Coal (Tokisud) Co.(P) Ltd (*)
 
 GVK Davix Research (P) Ltd
 
 GVK Davix Technologies (P) Ltd
 
 GVK Developmental Projects (P) Ltd
 
 GVK Foundation (*)
 
 GVK Energy Holdings (P) Ltd
 
 GVK Energy Ltd (*)
 
 GVK Enterprises
 
 GVK Estates Private Limited
 
 GVK Hydel (P) Ltd
 
 GVK Industries Ltd (*)
 
 GVK Jaipur Expressway Private Ltd (*)
 
 GVK Power (Jegurupadu) Pvt Ltd
 
 GVK Oil & Gas Limited (*)
 
 GVK Perambalur SEZ (P) Ltd
 
 GVK Power & Infrastructure Ltd (*)
 
 GVK Power (Goindwal Sahib) Ltd (*)
 
 GVK Power (Krishnapatnam) (P) Ltd
 
 GVK Power (Ratlam) Private Ltd
 
 GVK Properties & Management Co.(P) Ltd (*)
 
 GVK Projects & Technical Services Ltd.
 
 GVK Technical & Consultancy Private Ltd
 
 GVK Transportation (P) Ltd
 
 GVK Virudhnagar Sez (P) Ltd
 
 IKR Land Holdings (P) Ltd
 
 Inc GVK Bio (P) Ltd
 
 Indigo Enterprises
 
 Indigo Estates
 
 Indira Constructions
 
 Indira Enterprises
 
 Innovative Land Holdings (P) Ltd
 
 Inogent Laboratories (P) Ltd (*)
 
 ISR Infrastructure
 
 Parthasarathy A/c Tourists (P) Ltd
 
 Patikari Power Private Ltd
 
 Pinakini Share & Stock Brokers Ltd
 
 Pinnacle Land Holdings (P) Ltd
 
 Plateau Construction & Engg.(P) Ltd
 
 Plateau Land Holdings (P) Ltd
 
 Raghavendra Finance (P) Ltd
 
 Raghavendra Land Holdings (P) Ltd
 
 Regulus Estates (P) Ltd
 
 Revatha Aqua Mineral (P) Ltd
 
 RK Estates
 
 S.Bhupal & Others
 
 SBSR Land Holdings (P) Ltd
 
 Sheraton Estates (P) Ltd (*)
 
 SHSB Land Holdings (P) Ltd
 
 Siregraha Mines Limited
 
 SOMKRB Land Holdings (P) Ltd
 
 SR Finance & Others
 
 SR Finance (P) Ltd
 
 Sri Hari Developers
 
 Sri Hari Enterprises
 
 Sri Hari Estates
 
 Sri Lakshmi Enterprises
 
 Sri Parvathi Enterprises
 
 Sri Shiva Enterprises
 
 Sri Venkateswara Enterprises
 
 Sri Vishnu Enterprises
 
 Starlet Land Holdings (P) Ltd
 
 Sunshine Properties (P) Ltd
 
 Suphala Real Estates (P) Ltd
 
 TRG Constructions
 
 Trinity Advisors (P) Ltd
 
 Ubiquitous Infratech (P) Ltd
 
 Verdura
 
 Vertex Infratech (P) Ltd
 
 Vertex Projects Ltd
 
 Volantis Land Holdings (P) Ltd
 
 Vulcon Constructions (P) Ltd
 
 Zinger Investments (P) Ltd
 
 (*) - Companies with which there are transactions during the year
 
 9.  The company operates a post retirement benefit plan for gratuity.
 
 10.  In the opinion of the Board of Directors of the company, the
 current assets, loans and advances are expected to realise in the
 ordinary course of business approximately the value at which they are
 stated in accounts.
 
 11.  Previous Years figures have been regrouped / rearranged, wherever
 necessary. Figures in brackets indicates those for previous year