1. As the Company´s business activity primarily falls within a single business and geographical segment, there are no additional disclosures to be provided under Accounting Standard 17 ´Segment Reporting.

2. With effect from April 01, 2008, the Company has changed its accounting policy for revenue recognition for sale of undivided share of land [group housing] on the basis of certain minimum level of collection of dues from the customer and/ or agreement for sale being executed rather than criteria relating to the project reaching a significant level of completion, to align it with revenue recognition policy for sale of villa plots. As a result revenue and profits before taxes are higher by Rs.59,61 million and Rs. 14.84 million respectively for the year ended March 31, 2009.

3. During the year, the Company has received an amount of Rs.475 million from the promoters as advance towards share subscription amount with regard to the proposed rights issue. The Company has obtained an approval from the Reserve Bank of India to refund the aforementioned advance by September 30, 2009, As the Company intends to refund the advance share subscription amount, it has been disclosed under Current liabilities and accordingly, diluted EPS has been calculated on the present outstanding equity shares, without considering dilutive effect of advance share subscription amount.

The figures of consolidated financial results are as follow:

Particulars:

- For Year ended On March 31, 2009 (Audited)

Net sales/Income from operations*: 9740
Profit after tax: 1099
Profit after minority interest and share of loss of associate: 1078
Basic and diluted EPS (in Rs.): 15.07

*With effect from April 01, 2008, the Group has changed its accounting policy for revenue recognition for sale of undivided share of land [group housing] on the basis of certain minimum level of collection of dues from the customer and/ or agreement for sale being executed rather than criteria relating to the project reaching a significant level of completion, to align it with revenue recognition policy for sale of villa plots. As a result revenue and profits before taxes are higher by Rs.95.70 million and Rs 38,80 million respectively for the year ended March 31, 2009

5. The Board of Directors of the Company have recommended a dividend of Re.1 per equity share of Rs.10 each for the year ended March 31, 2009.

6. This statement has been reviewed by the Audit Committee and taken on record at the meeting of the Board of Directors of the Company held on May 18,2009.

7. The figures of the previous year have been regrouped/ reclassified, wherever necessary

JC Sharma
Managing Director