1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on April 29, 2009.

2. The Statutory Auditors of the Company have carried out a Limited Review of the results for the quarter and year ended March 31, 2009.

3. The figures for the corresponding period have been regrouped or reclassified, wherever necessary.

4. Segment Reporting:

The Company´s business activity falls within a single segment viz, real estate and redevelopment operates in domestic market. Accordingly, disclosure requirement under Accounting Standard (AS) 17, for Segment Reporting, is not applicable.

5. The consolidated financial statement have been prepared in accordance with Accounting Standard 21 Consolidated Financial Statements issued by the Institute of Chartered Accountants of India.

6. During the quarter, the Company has allotted 10 Equity Shares on January 19, 2009 on conversion of warrants. The EPS has been calculated accordingly.

7. The Company is in the process to amalgamate its wholly owned subsidiary Company Orbit Shelter Pvt Ltd with itself, subject to the requisite approvals including that of the Hon´ble High Court of Judicature of Mumbai u/s 391 and 394 of the Companies Act, 1956. In terms of the Scheme the appointed date for Amalgamation is April 01, 2008. Upon receipt of statutory approvals, the Scheme will be given effect to and the Financial Statements for the quarter and year ended March 31, 2009 will be accordingly restated.

Ravi Kiran Aggarwal
Chairman