Note 1: Summary of significant accounting policies:

A. STATEMENT OF COMPLIANCE:

The Company has prepared financial statements for the year ended March 31, 2025 in accordance with the
provisions of the Companies Act, 2013 and Indian Accounting Standards (Ind AS) notified under the Companies
(Indian Accounting Standards) Rules, 2015 (as amended) together with the comparative period data as at and
for the year ended March 31, 2024. These financial statements have been approved for issue by the Board of
Directors at its meeting held on May 30th, 2025.

B. BASIS OF PREPARATION AND PRESENTATION:

The financial statements of the Company have been prepared in accordance with Indian Accounting Standards
(Ind AS) notified under Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time)
and presentation requirements of Division II of Schedule III to the Companies Act, 2013, (Ind AS compliant
Schedule III), as applicable to the standalone financial statements. The financial statements are presented in
Indian Rupees (INR.) and all values are rounded to nearest hundred up-to two decimal places, except otherwise
indicated.

The financial statements have been prepared on the historical cost basis except for certain financial
instruments that are measured at fair values at the end of each reporting period, as explained in the
accounting policies below. Historical cost is generally based on the fair value of the consideration given in
exchange for goods and services.

The Company has consistently applied the following accounting policies to all periods presented in these
financial statements.

a) Operating cycle for current & non-current classification

Assets and Liabilities are classified as current or non-current, inter-alia considering the normal operating
cycle of the company's operations and the expected realization/settlement thereof within 12 months after
the Balance Sheet date. Deferred tax assets and liabilities are classified as non-current assets and
liabilities.

b) Fair value measurement

Fair value measurements are categorized as below based on the degree to which the inputs to the fair
value measurements are observable and the significance of the inputs to the fair value measurement in it's
entirely;

(i) Level 1 inputs are quoted price (unadjusted) in active markets for identical assets or liabilities that the
company can access at measurement date;

(ii) Level 2 inputs are input, other than quoted prices included in level 1, that are observable for the asset
or liability, either directly or indirectly; and

(iii) Level 3 inputs are unobservable inputs for the valuations of asset or liabilities.

Above levels of fair value hierarchy are applied consistently and generally; there are no transfers between
the levels of the fair value hierarchy unless the circumstances change warranting such transfer.

c) Cash Flow Statement - IND AS 7

The statement of Cash Flows has been prepared and presented in accordance with IND AS 7 "Statement of
Cash Flows".

d) SEBI regulations:

The disclosures with respect to items in the Balance Sheet and Statement of Profit and Loss, as prescribed
in the Schedule III to the Act, are presented by way of notes forming part of the financial statements along
with the other notes required to be disclosed under the notified Indian Accounting Standards and the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.

e) Functional and Presentation Currency:

The financial statements are presented in Indian Rupees (INR), which is also the Company's functional
currency. All transactions are recorded in INR, the currency of the primary economic environment in which
the Company operates.

f) Exceptional items

An item of income or expense which by its size, type or incidence requires disclosure in order to improve
an understanding of the performance of the Company is treated as an exceptional item and disclosed as
such in the financial statements.

C. USE OF ESTIMATES:

The preparation of the financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amount of assets and
liabilities as of the balance sheet date, reported amounts of revenues and expenses for the period ended and
disclosure of contingent liabilities as of the balance sheet date. The estimates and assumptions used in these
financial statements are based upon management's evaluation of the relevant facts and circumstances as on
the date of the financial statements. Actual results may differ from those estimates. Any revision to accounting
estimates is recognized prospectively.

D. REVENUE RECOGNITION:

• Ind AS 115 Revenue from Contracts with Customers: Ind AS 115 establishes a five-step model to account
for revenue arising from contracts with customers and requires that revenue be recognized at an amount
that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods
or services to a customer. Ind AS 115 requires entities to exercise judgment, taking into consideration all
of the relevant facts and circumstances when applying each step of the model to contracts with their
customers. The standard also specifies the accounting for the incremental costs of obtaining a contract
and the costs directly related to fulfilling a contract. In addition, the standard requires relevant
disclosures.

• Revenue is measured based on the transaction price, which is the consideration, adjusted for volume
discounts, service level credits, performance bonuses, price concessions and incentives, if any, as
specified in the contract with the customer. Expenses reimbursed by customers during the project
execution are recorded as reduction to associated costs. Revenue also excludes taxes collected from
customers.

• Stage of completion is determined with reference to the certificates given by clients / consultants
appointed by clients as well as on the billing schedule agreed with them for the value of work done during
the year.

• Revenue from supply contract is recognized when the substantial risk and rewards of ownership is
transferred to the buyer and the collectability is reasonably measured. Revenue from product sales are
shown as net of all applicable taxes and discounts.

• Interest: Interest income is recognized on a time proportion basis taking into account the amount
outstanding and the applicable interest applicable. Interest income is included under the head "Other
income" in the statement of profit & loss account.

• Dividends: Dividend income is recognized when the Company's right to receive dividend is established by
the balance sheet date.

• Revenue from contracts with customers is recognized when a performance obligation is satisfied by
transfer of promised goods or services to a customer. For performance obligation satisfied over time, the
revenue recognition is done by measuring the progress towards complete satisfaction of performance

obligation. The progress is measured in terms of a proportion of actual cost incurred to-date, to the total
estimated cost attributable to the performance obligation.

• The Company transfers control of a good or service over time and therefore satisfies a performance
obligation and recognizes revenue over a period of time if one of the following criteria is met:

i) the customer simultaneously consumes the benefit of Company's performance or

ii) the customer controls the asset as it is being created/enhanced by the Company's performance or

iii) there is no alternative use of the asset and the Company has either explicit or implicit right of
payment considering legal precedents.

In all other cases, performance obligation is considered as satisfied at a point in time.

• The revenue is recognized to the extent of transaction price allocated to the performance obligation
satisfied. Transaction price is the amount of consideration to which the Company expects to be entitled in
exchange for transferring goods or services to a customer excluding amounts collected on behalf of a
third party. The Company includes variable consideration as part of transaction price when there is a basis
to reasonably estimate the amount of the variable consideration and when it is probable that a significant
reversal of cumulative revenue recognized will not occur when the uncertainty associated with the
variable consideration is resolved. Variable consideration is estimated using the expected value method
or most likely amount as appropriate in a given circumstance. Payment terms agreed with a customer are
as per business practice and the financing component, if significant, is separated from the transaction
price and accounted as interest income.

Costs to obtain a contract which are incurred regardless of whether the contract was obtained are
charged-off in statement of profit and loss immediately in the period in which such costs are incurred.
Incremental costs of obtaining a contract, if any, and costs incurred to fulfil a contract are amortized over
the period of execution of the contract in proportion to the progress measured in terms of a proportion
of actual cost incurred to-date, to the total estimated cost attributable to the performance obligation.

• Significant judgments are used in:

1. Determining the revenue to be recognized in case of performance obligation satisfied over a period
of time; revenue recognition is done by measuring the progress towards complete satisfaction of
performance obligation.

2. Determining the expected losses, which are recognized in the period in which such losses become
probable based on the expected total contract cost as at the reporting date.

3. Determining the method to be applied to arrive at the variable consideration requiring an
adjustment to the transaction price.

(i) Revenue from operations:

Revenue from construction/project related activity is recognized as follows:

1. Cost plus contracts: Revenue from cost plus contracts is recognized over time and is determined with
reference to the extent performance obligations have been satisfied. The amount of transaction price
allocated to the performance obligations satisfied represents the recoverable costs incurred during the
period plus the margin as agreed with the customer.

2. Fixed price contracts: Contract revenue is recognized over time to the extent of performance obligation
satisfied and control is transferred to the customer. Contract revenue is recognized at allocable transaction
price which represents the cost of work performed on the contract plus proportionate margin, using the
percentage of completion method.

Percentage of completion is the proportion of cost of work performed to-date, to the total estimated contract
costs.

For contracts where the aggregate of contract cost incurred to-date plus recognized profits (or minus
recognized losses as the case may be) exceeds the progress billing, the surplus is shown as contract asset and
termed as "unbilled revenue". Amounts received before the related work is performed are disclosed in the
Balance Sheet as contract liability and termed as "Advances from customer". The amounts billed on customer
for work performed and are unconditionally due for payment i.e. only passage of time is required before
payment falls due, are disclosed in the Balance Sheet as trade receivables. The amount of retention money

held by the customers pending completion of performance milestone is disclosed as part of contract asset and
is reclassified as trade receivables when it becomes due for payment.

E. PROPERTY, PLANT& EQUIPMENT (PPE) :

Tangible Assets:

Property Plant & Equipment are stated at cost of acquisition less accumulated depreciation and impairment
loss, if any.

The cost of acquisition includes direct cost attributable to bringing the assets to their present location and
working condition for their intended use. The cost of fixed assets includes interest on borrowings attributable
to acquisition of qualifying fixed assets up to the date the asset is ready for its intended use and other
incidental expenses incurred up to that date and excludes any tax for which inputcredit is taken.

Such cost includes the cost of replacing part of the plant and equipment and borrowing costs for long-term
construction projects if the recognition criteria are met. When significant parts of plant and equipment are
required to be replaced at intervals, the Company depreciates them separately based on their specific useful
lives. Likewise, when a major inspection is performed, its cost is recognized in the carrying amount of the plant
and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs
are recognized in profit or loss as incurred.

Property Plant and equipment are eliminated from financial statements, either on disposal or when retired
from active use. Losses arising in case of retirement of Property, Plant and equipment and gains or losses
arising from disposal of property, plant and equipment are recognized in statement of profit and loss in the
year of occurrence.

The assets' residual values, useful lives and methods of depreciation are reviewed at each financial year and
adjusted prospectively, if appropriate,

Depreciation on Tangible assets:

Depreciation is provided as per useful life prescribed by Schedule II of the Companies Act, 2013 on Straight Line
Method on Plant and Machinery and on other Tangible PPE.

Depreciation is calculated on a Straight-Line Method basis over the estimated useful lives of the assets. Useful
lives used by the Company are same as prescribed rates, prescribed under Schedule II of the Companies Act
2013. The range of useful lives of the property, plant and equipment are as follows:

Software for internal use, which is primarily acquired from third-party vendors and which is an integral part of
a tangible asset, including consultancy charges for implementing the Software, is capitalized as part of the
related tangible asset.

Subsequent costs associated with maintaining such Software are recognized as expense as incurred. The
capitalized costs are amortized over the estimated useful life of the Software.

Capital work-in-progress

PPE not ready for the intended use on the date of the Balance Sheet are disclosed as "capital work-in-progress"

F. Investment properties:

Investment properties comprise portions of office buildings and residential premises that are held for long¬
term rental yields and/or for capital appreciation. Investment properties are initially recognized at cost.
Subsequently investment property comprising of building is carried at cost less accumulated depreciation and
accumulated impairment losses.

The cost includes the cost of replacing parts and borrowing costs for long-term construction projects if the
recognition criteria are met. When significant parts of the investment property are required to be replaced at
intervals, the Group depreciates them separately based on their specific useful lives. All other repair and
maintenance costs are recognized in profit and loss as incurred.

Depreciation on building is provided over the estimated useful lives as specified in Schedule II to the
Companies Act, 2013. The residual values, useful lives and depreciation method of investment properties are
reviewed, and adjusted on prospective basis as appropriate, at each financial year end. The effects of any
revision are included in the statement of profit and loss when the changes arise.

Though the group measures investment property using cost-based measurement, the fair value of investment
property is disclosed in the notes. Investment properties are derecognized when either they have been
disposed of or when the investment property is permanently withdrawn from use and no future economic
benefit is expected from its disposal. The difference between the net disposal proceeds and the carrying
amount of the asset is recognized in the statement of profit and loss in the period of de-recognition.

G. IMPAIRMENT OFASSETS:

Management evaluates at regular intervals, using external and internal sources, whether there is any
impairment of any asset. If any indication for impairment of assets exists, the carrying value of such assets is
reduced to its recoverable amount and the impairment loss is recognized in the statement of profit and loss.
Impairment occurs where the carrying value exceeds the present value of future cash flows expected to arise
from the continuing use of the asset and/or its net realizable value on eventual disposal. Any loss on account
of impairment is expensed as the excess of the carrying amount over the higher of the asset's net realizable
value or present value as determined. When there is indication that an impairment loss recognized for an asset
in earlier accounting periods no longer exists or may have decreased, such reversal of impairment loss is
recognized in the Statement of Profit and Loss and the asset is restated to that extent.

H. INVENTORIES:

As Per IND AS 2, Material at site have been valued at cost or net realizable value whichever is lower. The
Inventory is physically verified by the management at regular intervals. Cost of Inventory comprises of Cost of
Purchase, Cost of Conversion and other Costs incurred to bring them to their respective present location and
condition.

Work-in-progress consist of Work done but not certified and the incomplete work as on balance sheet date
and same is valued at cost or net realizable value whichever is lower.

I. TAXES ON INCOME:

Income tax expense consists of current and deferred tax. Income tax expense is recognized in Statement of
profit or loss except to the extent that it relates to items recognized in Other Comprehensive Income or
directly in equity, in which case it is recognized in OCI or directly in equity respectively.

Current Tax:

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the
Income Tax authorities, based on tax rates and laws that are enacted at the Balance sheet date.

Deferred Tax:

Deferred tax assets are recognized to the extent it is probable that taxable profit will be available against which
deductible temporary differences, and the carried forward of unused tax losses can be utilized.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in
which the liability is settled or the assets realized based on tax rates (and tax laws) that have been enacted or
substantially enacted as at the reporting date. The carrying amount of deferred tax liabilities and assets are
reviewed at the end of each reporting period.

J. LEASES:

TheCompanyevaluatesifanarrangementqualifiestobealeaseaspertherequirementsof IND AS116. Identification
of a lease requires significant judgment. The Company uses significant judgment in assessing the lease term
(including anticipated renewals) and the applicable discount rate. The Company determines the lease term as
the non-cancellable period of a lease, together with both periods covered by an option to extend the lease if
the Company is reasonably certain to exercise that option; and periods covered by an option to terminate the
lease if the Company is reasonably certain not to exercise that option. In assessing whether the Company is
reasonably certain to exercise an option to extend a lease, or not to exercise an option to terminate a lease, it
considers all relevant facts and circumstances that create an economic incentive for the Company to exercise
the option to extend the lease, or not to exercise the option to terminate the lease. The Company revises the
lease term if there is a change in the non-cancellable period of a lease.

The Company applies Ind AS 36 to determine whether a right-of-use asset is impaired and accounts for any
identified impairment loss as described in the impairment of non-financial assets below.

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a
period of time in exchange for consideration.

Company as a lessee

The Company accounts for lease component within the contract as a lease separately from non-lease
components of the contract. The Company recognizes right-of-use asset representing its right to use the
underlying asset for the lease term at the lease commencement date. The cost of the right-of-use asset
measured at inception shall comprise of the amount of the initial measurement of the lease liability
adjusted for any lease payments made at or before the commencement date less any lease incentives
received, plus any initial direct costs incurred. The right-of-use assets is subsequently measured at cost less
any accumulated depreciation, accumulated impairment losses, if any and adjusted for any remeasurement
of the lease liability. The right-of-use assets are depreciated using the straight-line method from the
commencement date. The Company measures the lease liability at the present value of the lease payments
that are not paid at the commencement date of the lease. The lease payments are discounted using the
interest rate implicit in the lease.

Company as a Lessor

At the inception of the lease the Company classifies each of its leases as either an operating lease or a finance
lease. The Company recognizes lease payments received under operating leases as income on a straight-line
basis over the lease term.

Transition to Ind AS 116

Ministry of Corporate Affairs ("MCA") through Companies (Indian Accounting Standards) Amendment Rules,
2019 and Companies (Indian Accounting Standards) Second Amendment Rules has notified Ind AS 116 Leases
which replaces the existing lease standard, Ind AS 17 Leases, and other interpretations. Ind AS 116 sets out the
principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors.
It introduces a single, on-balance sheet lease accounting model for lessees.

Short-term leases and leases of low-value assets

The company has elected not to recognize right-of-use assets and lease liabilities for short term leases of real
estate properties that have a lease term of 12 months. The company recognizes the lease payments associated
with these leases as an expense on a straight-line basis over the lease term.

K. EMPLOYEE BENEFITS:

Employee benefits include salaries, wages, contribution to provident fund, gratuity, leave encashment towards
un-availed leave, compensated absences, post-retirement medical benefits and other terminal benefits.

Short-term employee benefits

Wages and salaries, including non-monetary benefits that are expected to be settled within 12 months after
the end of the period in which the employees render the related service are recognized in respect of
employees' services up to the end of the reporting period and are measured at the amounts expected to be
paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the
balance sheet.

Post-employment benefits
Defined contribution plan

Employee Benefit under defined contribution plans comprises of Contributory provident fund, Post Retirement
benefit scheme, Employee pension scheme, composite social security scheme etc. is recognized based on the
undiscounted amount of obligations of the Company to contribute to the plan. The same is paid to a fund
administered through a separate trust.

Defined benefit plan

Defined benefit plans comprising of gratuity, post-retirement medical benefits and other terminal benefits, are
recognized based on the present value of defined benefit obligation which is computed using the projected
unit credit method, with actuarial valuations being carried out at the end of each annual reporting period.
These are accounted either as current employee cost or included in cost of assets as permitted.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit
obligation and the fair value of plan assets. This cost is included in employee benefit expense in the statement
of profit and loss.

Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions
are recognized in the period in which they occur, directly in other comprehensive income. They are included in
retained earnings in the statement of changes in equity and in the balance sheet.

Changes in the present value of the defined benefit obligation resulting from plan amendments or
curtailments are recognized immediately in profit or loss as past service cost.

Other long-term employee benefits

Other long-term employee benefit comprises of leave encashment towards unavailed leave and compensated
absences, these are recognized based on the present value of defined obligation which is computed using the
projected unit credit method, with actuarial valuations being carried out at the end of each annual reporting
period. These are accounted either as current employee cost or included in cost of assets as permitted.
Remeasurements of leave encashment towards unavailed leave and compensated absences are recognized in
the Statement of Profit and Loss except those included in cost of assets as permitted in the period in which
they occur.

Short term employee benefits

Liabilities recognized in respect of short-term employee benefits are measured at the undiscounted amount of
the benefits expected to be paid in exchange for the related service. Liabilities recognized in respect of other
long-term employee benefits are measured at the present value of the estimated future cash outflows
expected to be made by the Company in respect of services provided by employees up to the reporting date

L. Non- current Asset held for sale:

Non-current assets and disposal groups are classified as held for sale if their carrying amount will be recovered
principally through a sale transaction rather than through continuing use. This condition is regarded as met
only when the asset (or disposal group) is available for immediate sale in its present condition subject only to
terms that are usual and customary for sales of such asset (or disposal group) and its sale is highly probable.
Management must be committed to the sale, which should be expected to qualify for recognition as a
completed sale within one year from the date of classification. Non-current assets (and disposal groups)
classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell.
Noncurrent assets are not depreciated or amortized.

M. Borrowing costs:

a) Borrowing costs that are attributable to the acquisition, construction, or production of a qualifying asset
are capitalized as a part of the cost of such asset till such time the asset is ready for its intended use or

sale. A qualifying asset is an asset that necessarily requires a substantial period of time (generally over
twelve months) to get ready for its intended use or sale.
b) All other borrowing costs are recognized as expense in the period in which they are incurred.