1. The Board Recommended a final Dividend of Re 1/- Per share, subject to the Approval of the Shareholders.

2. The Company is engaged only in one reportable segment viz. Real Estate Development and therefore segment information as per Accounting Standard-17 is not required to be disclosed.

3. Details of utilization of issue proceeds through public issue as on March 31, 2009: (Rs in Lakhs)

Net Proceeds from IPO - 27554.30

Less: Utilization of funds:

- Payments towards IPO Expenses - 2195.30
- Payments towards development and construction of Projects - 1510.55
- Payments towards Land Purchases - 17220.41

Total Utilization of Funds - 20926.26

Balance invested in Liquid Mutual Funds/ Fixed Deposits : 6628.04

4. The above financial results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on June 30, 2009.

5. The figures for the corresponding periods have been restated, whenever necessary, to make them comparable.

Rajesh Patil
Chairman & Managing Director