1. The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on June 20, 2009.

2. The members of the Company at their Extra-ordinary General Meeting held on June 20, 2009, have approved the proposal of raising of additional long-term funds through further issuance of Securities including by way of Qualified institutions Placement, for an amount up to an aggregate principal amount of Rs 2,500 Crores.

3. There is no reportable segment pursuant to Accounting Standard AS-17 ´Segment Reporting´ issued by the Institute of Chartered Accountants of India. Hence no disclosure is required under AS-17.

4. The consolidated financial results have been prepared in accordance with AS 21 - Accounting Standards on Consolidated Financial Statements, AS 27 - Financial Reporting of Interests in Joint Ventures and AS 23 - Accounting for Investments in Associates in Consolidated Financial Statements.

5. For one of the consolidating entities executing a residential project ´Parsvnath La Tropicana´ in Delhi, the floor area ratio (FAR) in relation to this project has increased vide Master Plan of Delhi (MPD), 2021, consequently the total saleable area of the said project has increased. Due to an increase in saleable area, the total estimated cost of the project has gone up resulting in decrease in percentage completion of the project. In accordance with the accounting policy for revenue recognition, the Company has applied revised percentage completion to the sale value and the resultant reversal of sales and cost of construction/ development has been recognised during the year.

6. During the quarter ended March 31, 2009, the company has acquired the balance equity shares of the following subsidiary companies, thereby converting them into wholly owned subsidiary companies. The details are as under:

Name of the Company - Parsvnath Film City Ltd
Ownership interest in % - 100%

Name of the Company - Parsvnath Telecom Pvt Ltd
Ownership interest in % - 100%

Name of the Company - Parsvnath Hotels Ltd
Ownership interest in % - 100%

Name of the Company - Parsvnath Retail Ltd
Ownership interest in % - 100%

Name of the Company - PDL Assets Ltd
Ownership interest in % - 100%

8. Figures for the previous period / year have been regrouped, wherever necessary, for the purpose of comparison.

Pradeep Kumar Jain
Chairman