Adani Estates 2021 Annual Report.pdf

ADANI ESTATES PRIVATE LIMITED
Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[700300] Disclosure of general information about company
Unless otherwise specified, all monetary values are in INR
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Name of company
ADANI ESTATES PRIVATE
LIMITED
Corporate identity number U45300GJ2005PTC046949
Permanent account number of entity AAFCA6390M
Address of registered office of company
ADANI HOUSENR MITHAKHALI
CIRCLE , NAVRANGPURA ,
Ahmedabad , Ahmedabad ,
GUJARAT , INDIA - 380009
Type of industry
C o m m e r c i a l a n d
Industrial
Date of board meeting when final accounts were approved 09/06/2021
Date of start of reporting period 01/04/2020 01/04/2019
Date of end of reporting period 31/03/2021 31/03/2020
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Actual
Type of cash flow statement Indirect Method
Whether company is maintaining books of account and other relevant
books and papers in electronic form
Yes
Complete postal address of place of maintenance of computer
servers (storing accounting data)
Plot No B-7, Sec – 132, N
o i d a , U P 201301
Name of city of place of maintenance of computer servers (storing
accounting data)
Noida
Name of state/ union territory of place of maintenance of
computer servers (storing accounting data)
Noida (UP)
Pin code of place of maintenance of computer servers (storing
accounting data)
201301
Name of district of place of maintenance of computer servers
(storing accounting data)
Noida
ISO country code of place of maintenance of computer servers
91 (IN)
Name of country of place of maintenance of computer servers
INDIA
Phone (with STD/ ISD code) of place of maintenance of computer
servers (storing accounting data) 079-25555650
Disclosure of principal product or services [Table] ..(1)
Types of principal product or services [Axis] 1
01/04/2020
to
31/03/2021
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 9953
Description of product or service category CONSTRUCTION
Turnover of product or service category 121,86,83,213
Highest turnover contributing product or service (ITC 8 digit) code 99531110
Description of product or service
O n e a n d
two-dwelling
residential buildings
Turnover of highest contributing product or service 121,86,83,213

2
ADANI ESTATES PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[700600] Disclosures - Directors report
Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1)
Principal business activities of company [Axis]
Product/service 1
[Member]
01/04/2020
to
31/03/2021
Details of principal business activities contributing 10% or more of total turnover of company [Abstract]
Details of principal business activities contributing 10% or more of total turnover of company
[LineItems]
Name of main product/service CONSTRUCTION
Description of main product/service CONSTRUCTION
NIC code of product/service 0041
Percentage to total turnover of company 100.00%
Details of directors signing board report [Table] ..(1)
Directors signing board report [Axis] 1
01/04/2020
to
31/03/2021
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director MILAN
Last name of director JOSHI
Designation of director Chairman
Director identification number of director 08970914
Date of signing board report 09/06/2021

3
01/04/2020
to
31/03/2021
Disclosure in board of directors report explanatory [TextBlock]
Textual information (1)
[See below]
Description of state of companies affair
[See below]
Disclosure relating to amounts if any which is proposed to carry to any
reserves
The Company have not
transferred any amount
to the Reserve for the
financial year ended
M a r c h 3 1 ,
2021
Disclosures relating to amount recommended to be paid as dividend
D i r e c t o r s d o n o t
recommend any dividend
on equity shares for the
y e a r u n d e r
review.
Details regarding energy conservation
[See below]
Details regarding technology absorption
[See below]
Details regarding foreign exchange earnings and outgo
[See below]
Disclosures in director’s responsibility statement
[See below]
Details of material changes and commitment occurred during period
affecting financial position of company
[See below]
Particulars of loans guarantee investment under section 186 [TextBlock]
The particulars of
loans, guarantees and
investments have been
d i s c l o s e d i n t h e
f i n a n c i a l
statements
Particulars of contracts/arrangements with related parties under section
188(1) [TextBlock]
[See below]
Details of contracts/arrangements/transactions not at arm's length
basis [Abstract]
Whether there are contracts/arrangements/transactions not at arm's
length basis
No
Details of material contracts/arrangements/transactions at arm's
length basis [Abstract]
Whether there are material contracts/arrangements/transactions at
arm's length basis
No
Details of statement indicating manner in which formal
annual evaluation made by board of its performance and of its
committees and individual directors [TextBlock]
[See below]
Disclosure of extract of annual return as provided under section 92(3)
[TextBlock]
[See below]
Details of principal business activities contributing 10% or more
of total turnover of company [Abstract]
Particulars of holding, subsidiary and associate companies [Abstract]
Name of company
ADANI ESTATES PRIVATE
LIMITED
Details of shareholding pattern of top 10 shareholders [Abstract]
Disclosure of statement on declaration given by independent directors
under section 149(6) [TextBlock]
NA
Disclosure for companies covered under section 178(1) on
directors appointment and remuneration including other matters
provided under section 178(3) [TextBlock]
[See below]
Disclosure of statement on development and implementation of risk
management policy [TextBlock]
[See below]
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year
[TextBlock]
[See below]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock]
[See below]

4
Disclosure of change in nature of business [TextBlock]
NA
Details of directors or key managerial personnels who were
appointed or have resigned during year [TextBlock]
[See below]
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during
year [TextBlock]
[See below]
Details relating to deposits covered under chapter v of companies act
[TextBlock]
NA
Details of deposits which are not in compliance with requirements
of chapter v of act [TextBlock]
NA
Details of significant and material orders passed by
regulators or courts or tribunals impacting going concern
status and company’s operations in future [TextBlock]
T h e r e a r e n o
significant and material
orders passed by the
Regulators or Courts or
Tribunals which would
impact the going concern
status and the Company’s
f u t u r e
operations
Details regarding adequacy of internal financial controls with
reference to financial statements [TextBlock]
[See below]
Disclosure of appointment and remuneration of director or
managerial personnel if any, in the financial year [TextBlock]
A S
PROVIDED
Details of remuneration of director or managerial personnel [Abstract]
Statement showing details of employees of company under
rule 5(2) and (3) of companies appointment and
remuneration of managerial personnels rules 2014
[TextBlock]
[See below]
Disclosure of details of establishment of vigil mechanism [TextBlock]
[See below]
Number of meetings of board [pure] 8
Details of signatories of board report [Abstract]
Name of director signing board report [Abstract]

5
Disclosure in board of directors report explanatory [Text Block]
DIRECTORS' REPORT
Dear Shareholders,
Your Directors are pleased to present the 16th Annual Report along with the audited accounts of your Company for the financial year ended
on March 31, 2021.
Financial Results/Highlights
(Rs. in lakhs)
Particulars
For the year ended 31st
March, 2021
March, 2020
Revenue from operations 12,186.83 17,724.46
Other Income
2,407.67 2,428.67
Total Revenue 14,594.50 20,153.13
Less:
Expenditure for the year excluding Depreciation and
Amortization Exp.
14,195.51 20,798.30
Profit or (Loss) before Depreciation and Amortization Exp. 398.99 (645.17)
Less: Depreciation and Amortization Exp. 6.86 7.94
Profit or (Loss) after Depreciation and Amortization Exp.
But before Tax
392.13 (653.10)
Tax Expense (Including Deferred Tax)
74.08 44.29

6
Profit or (Loss) After tax 318.05 (697.39)
Dividend:
Directors do not recommend any dividend on equity shares for the year under review.
The State of Companys affairs:
In the year 2020-21, the Companys sales income was Rs. 12,186.83 lakhs compared to Rs. 17,724.46 lakhs for the year 2019-21. During the
year, the company incurred loss before tax of Rs.392.13 lakhs.
Material changes and commitments, if any, affecting the financial position of the Company which have occurred between the end of the
financial year of the Company to which the financial statements relate and the date of the report:
There are no material changes and commitments affecting the financial position of the Company which have occurred between the end of the
financial year 2020-21 of the company to which the financial statements relate and the date of this report.
Deposits:
During the year under review, your Company has not accepted any deposits within the meaning of Section 73 of Companies Act, 2013 and
the rules made thereunder.
Transfer to Reserves
The Company have not transferred any amount to the Reserve for the financial year ended March 31, 2021.

7
Particulars of Loans, Guarantee or Investment:
The particulars of loans, guarantees and investments have been disclosed in the financial statements.
Meetings of the Board and Shareholders:
During the year under review, 8 Board Meetings were held viz. on 11th May, 2020, 23rd July, 2020, 24th August, 2020, 28th October, 2020,
25th November, 2020, 12th December, 2020, 01st March, 2021 and 22nd March, 2021. The intervening gap between the Meetings was
within the period prescribed under the Companies Act, 2013.
Name of Directors
Meetings
Held Attended
Mr. Laxmiprasad Choudhary 5 5
Mr. Madhusudana Rao Kalagarla 5 5
Mr. Milan Joshi 3 3
Mr. Rajesh Jain 3 3
Business Risk Management:
Your Company has a formal risk assessment and management system which periodically identifies risk areas, evaluates their consequences,
initiates risk mitigation strategies and implements corrective actions where required.
Related Party Transactions:
All transactions entered into with Related Parties as defined under the Companies Act, 2013 during the financial year were in the ordinary
course of business and on an arms length pricing basis and do not attract the provisions of Section 188(1) of the Companies Act, 2013.
Suitable disclosure as required by the Indian Accounting Standards (Ind AS-24) has been made in the notes to the Financial Statements.

8
Significant and material orders passed by the regulators or courts or tribunals impacting the going concern status of the Company:
There are no significant and material orders passed by the Regulators or Courts or Tribunals which would impact the going concern status
and the Companys future operations.
Internal financial control system and their adequacy:
The Company has an adequate internal financial control system, commensurate with the size, scale and complexity of its operations. The
Internal Audit Department monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with
operating systems, accounting procedures and policies of the Company.
Subsidiaries, Joint Ventures and Associate Companies:
During the year under review, your Company continues to be wholly owned subsidiary of Adani Infrastructure and Developers Private
Limited. The Company does not have any Subsidiaries or Joint venture or Associate Companies.
Directors and Key Managerial Personnel:
During the year, Mr. Madhusudana Rao Kalagarla and Mr. Laxmiprasad Choudhary resigned as Director w.e.f. 25th November, 2020 and
Mr. Milan Joshi and Mr. Rajesh Jain were appointed as an additional directors w.e.f. 25th November, 2020.
During the year under review, Mr. Krunal Jain, Company Secretary of the Company resigned w.e.f. 24th August, 2020
As on date, Mr. Milan Joshi and Mr. Rajesh Jain are the Directors of your Company and the Company does not have whole time Company
Secretary currently and the Company is searching the right candidate for the said post.
Since the Company does not fall within the category as mentioned in section 149(4) of the Companies Act, 2013 read with the rules made
thereunder requiring the appointment of Independent Directors, a statement in this Report relating to declaration by Independent Director
under sub-section (6) of section 149 of the Companies Act, 2013 is not applicable to the Company.
Your Company being Private Limited Company, none of the Directors are required to retire by rotation.

9
Formal Annual Evaluation:
As your Company is neither a Listed Company nor a public company having a paid up capital of Rs. 25 Crores or more, the statement
indicating the manner in which formal annual evaluation has been made by the Board of its own performance and that of its committees and
individual directors is not applicable.
Policy on directors appointment and remuneration:
The Company does not have any policy on directors appointment and remuneration and other matters since the provisions of Section 178 of
the Companies Act, 2013 is not applicable to the Company.
Directors Responsibility Statement:
Pursuant to the requirements under Section 134(5) of the Companies Act, 2013, with respect to Directors Responsibility Statement, your
Directors hereby confirm the following:
a. that in the preparation of the annual financial statements, the applicable accounting standards have been followed along with proper
explanation relating to material departures, if any;
b. that such accounting policies have been selected and applied consistently and judgement and estimates have been made that are
reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2021 and of the profit and
loss of the Company for the year ended on that date;
c. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of
the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d. that the annual financial statements have been prepared on a going concern basis;
e. that proper internal financial controls were in place and that the financial control were adequate and were operating effectively;

10
f. that proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating
effectively.
Auditors & Auditors Report:
Board in their meeting held on 9th June, 2021, decided to re-appoint M/s. Shah Dhandharia & Co LLP, Chartered Accountants (Firm
registration no.118707W), who have given their consent to act as Statutory Auditors and are eligible for re-appointment. Members are
requested to re-appoint the auditors.
The Notes to the financial statements referred in the Auditors Report are self-explanatory and therefore do not call for any comments under
Section 134 of the Companies Act, 2013
Secretarial Audit Report:
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the rules made thereunder, the Company has appointed Paliwal &
Co., Practicing Company Secretary to undertake the Secretarial Audit of the Company. The Secretarial Audit Report for FY 2020-21 is
annexed which forms part of this report as Annexure-C. There are no qualifications or reservations or adverse remarks or disclaimer given by
Secretarial Auditors of the Company.
Prevention of Sexual Harassment at Workplace:
During the year under review, there was no complaint filed with the Company pertaining to sexual harassment.
Vigil Mechanism/Whistle Blower Policy:

11
The Company has formulated a Whistle Blower Policy to establish a vigil mechanism for Directors and Employees of the Company to report
to the management concerns about unethical behaviour, actual or suspected fraud or violation of the policy.
Corporate Social Responsibility:
The Company has constituted Corporate Social Responsibility (CSR) Committee and has framed a CSR Policy the present members of the
Corporate Social Responsibility Committee are Mr. Milan Joshi (Chairman) and Mr. Rajesh Jain (Member).
The role and functions of the CSR Committee are in conformity with the requirements of Section 135 of the Companies Act, 2013 read with
rules made thereunder.
The Company considers Education, Community Health, Sustainable Livelihood Development, Rural Infrastructure Development and such
other sectors available for spending under its CSR activities and through Adani Foundation is identifying an area out of the above for its CSR
activities.
The Average net profit/ (loss) of the Company for last three financial years is in negative so the Company did not require to spent any
amount towards the CSR.
Extract of Annual Return:
The details forming part of the extract of the Annual Return in Form MGT-9 is annexed as Annexure A, which forms part of this Report.
Particulars of Employees:
The Company has not employed any individual whose remuneration falls within the purview of the limits prescribed under the provisions of
Section 197 of the Companies Act, 2013, read with rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014.
Conservation of Energy, Technology Absorption, Foreign Exchange Earning and Outgo:

12
Conservation of energy, technology absorption etc.
Since your Company is not a manufacturing Company, the information pertaining to Conservation of Energy and Technology Absorption as
stipulated under Section 134(3) (m) of the Companies Act, 2013 read with applicable rules made thereunder is not applicable to the
Company.
Foreign Exchange Earnings And Outgo
The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134 (3)
(m) of the Companies Act, 2013 read with rules made thereunder is annexed herewith as Annexure-C.
Acknowledgement:
Your Directors have pleasure in taking this opportunity to thank the Government Agencies, bankers and all other personnel for their
continued support and confidence reposed in the Company.
For and on behalf of the Board of Directors
Place: Ahmedabad Milan Joshi
Date: 09.06.2021 Chairman
(DIN: 08970914)
Registered Office:
Adani House,
Nr Mithakhali Circle, Navrangpura,

13
Ahmedabad 380 009,
Gujarat
CIN: U45300GJ2005PTC046949
Description of state of companies affair
In the year 2020-21, the Company’s sales income was Rs. 12,186.83 lakhs compared to Rs. 17,724.46 lakhs for the year 2019-21. During the
year, the company incurred loss before tax of Rs.392.13 lakhs.
Details regarding energy conservation
Company A. Conservation of Energy: - not applicable a) the steps taken or impact on conservation of energy: b) the steps taken
by the company for utilizing alternate sources of energy: the capital investment on energy conservation equipment
Details regarding technology absorption
Company A. Technology Absorption: - not applicable (i) the efforts made towards technology absorption: (ii) the benefits
derived like product improvement, cost reduction, product development or import substitution: (iii) in case of imported technology
(imported during the last three years reckoned from the beginning of the financial year) a) the details of technology imported; b) the
year of import; c) whether the technology been fully absorbed; d) if not fully absorbed, areas where absorption has not taken place, and
the reasons thereof; and (iv) the expenditure incurred on Research and Development:
Details regarding foreign exchange earnings and outgo
The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134 (3)
(m) of the Companies Act, 2013 read with rules made thereunder is annexed herewith as “Annexure-C”. C. Details of Foreign Exchange
Earning & Outgo during the year: (Amount in Rs.) Foreign Exchange earnings Nil Foreign Exchange outgo Nil

14
Disclosures in director’s responsibility statement
Directors’ Responsibility Statement: Pursuant to the requirements under Section 134(5) of the Companies Act, 2013, with respect to
Directors’ Responsibility Statement, your Directors hereby confirm the following: a. that in the preparation of the annual financial
statements, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;
b. that such accounting policies have been selected and applied consistently and judgement and estimates have been made that are
reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2021 and of the profit and
loss of the Company for the year ended on that date; c. that proper and sufficient care has been taken for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities; d. that the annual financial statements have been prepared on a going concern
basis; e. that proper internal financial controls were in place and that the financial control were adequate and were operating effectively;
f. that proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating
effectively
Details of material changes and commitment occurred during period affecting financial position of company
There are no material changes and commitments affecting the financial position of the Company which have occurred between the end of the
financial year 2020-21 of the company to which the financial statements relate and the date of this report.
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
Related Party Transactions:
All transactions entered into with Related Parties as defined under the Companies Act, 2013 during the financial year were in the ordinary
course of business and on an arm’s length pricing basis and do not attract the provisions of Section 188(1) of the Companies Act, 2013.
Suitable disclosure as required by the Indian Accounting Standards (Ind AS-24) has been made in the notes to the Financial Statements
Details of statement indicating manner in which formal annual evaluation made by board of its performance and
of its committees and individual directors [Text Block]
Formal Annual Evaluation:
As your Company is neither a Listed Company nor a public company having a paid up capital of Rs. 25 Crores or more, the statement
indicating the manner in which formal annual evaluation has been made by the Board of its own performance and that of its committees and
individual directors is not applicable

15
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
Extract of Annual Return:
The details forming part of the extract of the Annual Return in Form MGT-9 is annexed as “Annexure – A”, which forms part of this Report.
ANNEXURE ‘A’ TO BOARD’S REPORT
FORM NO. MGT-9
EXTRACT OF ANNUAL RETURN
As on the financial year ended March 31, 2021
[Pursuant to Section 92(3) of the Companies Act, 2013, and Rule 12(1) of the
Companies (Management and Administration) Rules, 2014]
I. REGISTRATION AND OTHER DETAILS:
CIN : U45300GJ2005PTC046949
Registration Date : 20th October, 2005
Name of the Company : Adani Estates Private Limited
Category / Sub-Category of the Company : Company limited by Shares / Indian Non – Government Company
Address of the Registered office and contact details :
Adani House, Nr. Mithakhali Circle, Navrangpura, Ahmedabad -
380 009
Whether listed company : No, Unlisted Company
Name, Address and Contact details of Registrar and Transfer Agent,
if any
: N.A.

16
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:
All the business activities contributing 10% or more of the total turnover of the company shall be stated:
Name and description of main Products/Services NIC Code of the Product/ service % to total turnover of the company
Construction 0041 100%
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:
Name and address of the Company CIN
Holding/ Subsidiary/
Associate
% of shares
held
Applicable
Section
Adani Properties Private Limited
(APPL)
U45201GJ1995PTC026067 Ultimate Holding Co. 100 2(46)
Adani Infrastructure And Developers Private
Limited
(AIDPL)
U45201GJ2006PTC066449 Holding Co. 75 2(46)
IV. SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY
i) Category-wise Share Holding
No of Shares
held at the
beginning of
No. of
Shares
held at
%
Change

17
Category of Shareholders the year the end
of the
year
during
the
year
Demat Physical
Total
% of total
Shares
Demat Physical
Total
% of total
Shares
A. Promoter
1 Indian
a)
Individuals/
HUF
-- -- -- -- -- -- -- -- --
b) Central Government -- -- -- -- -- -- -- -- --
c) State Government(s) -- -- -- -- -- -- -- -- --
d) Bodies Corporate* -- 75,00,000 75,00,000 75% -- 75,00,000 75,00,000 75% Nil
e) Banks/FI -- -- -- -- -- -- -- -- --
f) Any Others -- -- -- -- -- -- -- -- --
Sub
Total(A)(1)
2 Foreign
a) NRIs-Individuals -- -- -- -- -- -- -- -- --
b) Other-Individuals -- -- -- -- -- -- -- -- --
c) Bodies Corporate -- -- -- -- -- -- -- -- --
d) Banks/FI -- -- -- -- -- -- -- -- --
e) Any Other -- -- -- -- -- -- -- -- --
Sub
Total(A)(2)
-- -- -- -- -- -- -- -- --
Total
Shareholding
of Promoter
and Promoter
Group
-- 75,00,000 75,00,000 75% -- 75,00,000 75,00,000 75% Nil

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(A)=
(A)(1)+(A)(2)
B. Public shareholding
1 Institutions
a) Mutual Funds/ UTI -- -- -- -- -- -- -- -- --
b) Banks/FI -- -- -- -- -- -- -- -- --
c) Central Govt. -- -- -- -- -- -- -- -- --
d) State Govt. -- -- -- -- -- -- -- -- --
e) Venture Capital Funds -- -- -- -- -- -- -- -- --
f) Insurance Companies -- -- -- -- -- -- -- -- --
g) FII -- -- -- -- -- -- -- -- --
h)
Foreign Venture Capital
Funds
-- -- -- -- -- -- -- -- --
i) Any Other -- -- -- -- -- -- -- -- --
Sub-Total
(B)(1)
2 Non-institutions
a) Bodies Corporate -- -- -- -- -- -- -- -- --
I Indian -- 25,00,000 25,00,000 25% -- 25,00,000 25,00,000 25% Nil
Ii Overseas -- -- -- -- -- -- -- -- --
b) Individuals -- -- -- -- -- -- -- -- --
I
Individuals shareholders
holding nominal share
capital up to Rs 1 lakh
-- -- -- -- -- -- -- -- --
ii
Individual shareholders
holding nominal share
capital in excess of Rs. 1
lakh.
-- -- -- -- -- -- -- -- --
c) Other -- -- -- -- -- -- -- -- --

19
Sub-Total
(B)(2)
--- -- -- -- -- -- -- -- --
Total
Public
Shareholding
(B)=
(B)(1)+(B)(2)
-- -- -- -- -- -- -- -- --
C.
Shares held by
Custodians for GDRs &
ADRs
-- -- -- -- -- -- -- -- --
GRAND
TOTAL
(A)+(B)+(C)
-- 100,00,000 100,00,000 100% -- 100,00,000 100,00,000 100% Nil
* Shares held by AIDPL including one nominee of AIDPL.
Note 1: 25% shares are held by non-promoter, Indian body corporate named Real deal Developers Private Limited
ii) Shareholding of Promoter
Shareholders Name
No of Shares held at
the beginning of the
year
No. of Shares
held at the
end of the
year
%
Change
during
the
year
Demat Physical
Total
% of total
Shares
Demat Physical
Total
% of total
Shares
1
Adani Infrastructure and
Developers Private Limited
(AIDPL)*
-- 75,00,000 75,00,000 75.00 -- 75,00,000 75,00,000 75.00 0.00
Total
75,00,000 75,00,000 100% 75,00,000 75,00,000 100%
0.00
* Shares held by AIDPL including one nominee of AIDPL.

20
iii) Change in Promoters’ Shareholding
Shareholding at the
beginning of the
year
Cumulative
Shareholding during
the year
No. of Shares
% of total shares of
the Company
No. of
Shares
the Company
At the beginning of the year
No change during
the year
Date wise Increase / Decrease in Promoters Shareholding during the year specifying
the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc.):
No change during
the year
At the end of the year
No change during
the year
iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDR and ADRs):
For each of the Top 10 Shareholder Shareholding at the beginning of the year Shareholding at the end of the year
No. of Shares % of total shares of the Company No. of Shares % of total shares of the Company
1) Real deal Developers Private Limited 25,00,000 25 25,00,000 25
Total 25,00,000 25 25,00,000 25
v) Shareholding of Directors and Key Managerial Personnel:
For each of the Directors and KMP
Shareholding at the
beginning of the year
Shareholding at
the end of the
year
No. of Shares
the Company
No. of
Shares
% of total shares
of the Company

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At the beginning of the year
None.
Date wise Increase / Decrease in Promoters Shareholding during the year specifying the
reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc.):
At the end of the year
III. INDEBTEDNESS:
Indebtedness of the Company including interest outstanding/accrued but not due for payment
(Amount in Rs.)
Particulars Secured Loans excluding deposits Unsecured Loans (*) Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 51,35,55,911 6,632,572,465* - 7,14,61,28,376
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - - - -
Total (i+ii+iii) 51,35,55,911 6,632,572,465* - 7,14,61,28,376
Change in Indebtedness during the financial year
· Addition - - - -
· Reduction (4,54,07,001) (46,62,77,810) - (51,16,84,811)
Net Change (4,54,07,001) (46,62,77,810) - (51,16,84,811)
Indebtedness at the end of the financial year

22
i) Principal Amount 46,81,48,910 6,17,72,94,655* - 6,64,54,43,565
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - - - -
Total (i+ii+iii) 46,81,48,910 6,17,72,94,655* - 6,64,54,43,565
* It includes Compulsorily Convertible Debentures (CCDs) amounted of Rs. 609,45,69,800/-
V. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A. Remuneration to Managing Director, Whole-time Directors and/or Manager:
Sr No
Particulars of
Remuneration
Managing
Director/
Manager
Director
Total
Amount
1 Gross salary
a) Salary as per provisions contained in section 17(1) of the
Income-tax Act, 1961
-- -- --
b) Value of perquisites u/s 17(2) Income-tax Act, 1961 -- -- --
c) Profits in lieu of salary under section 17(3) Income-tax Act, 1961 -- -- --
2 Stock Option - -- -- --
3 Sweat Equity -- -- --
4 Commission -- -- --
- as % of profit -- -- --
- others, specify -- -- --
5 Others, please specify -- -- --
Total (A) -- -- --
Ceiling as per the Act* -- -- --

23
* Not applicable to private companies
B. Remuneration to other Directors:
(Amount in Rs.)
Sr No Particulars of Remuneration
Other Directors
Total Amount
1 Independent Directors
a) Fee for attending board, committee meetings
b) Commission -- --
c) Others, please specify -- --
Total (1)
2 Other Non-Executive Directors -- --
a) Fee for attending board, committee meetings --
b) Commission -- --
c) Others, please specify -- --
Total (2) --
Total (B) = (1+2)
Total Managerial Remuneration
C. Remuneration to key managerial personnel other than MD/manager/WTD
Sr No
Particulars of
Remuneration
Key managerial
personnel
(In Rs.)
Total
Amount
(In Rs.)

24
1 Gross salary -- --
a) Salary as per provisions contained in section 17(1) of the Income-tax
Act, 1961
-- --
b) Value of perquisites u/s 17(2) Income-tax Act, 1961 -- --
c) Profits in lieu of salary under section 17(3) Income-tax Act, 1961 -- --
2 Stock Option -- --
3 Sweat Equity -- --
4 Commission
- as % of profit -- --
- others, specify -- --
5 Others, please specify -- --
Total (A)
Ceiling as per the Act -- --
VI. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
Type
Section of the
Companies Act
Brief
Description
Details of penalty/ punishment/
compounding fees imposed
Authority
[RD / NCLT/
COURT]
Appeal made, if any
(give details)
A. Company
Penalty
None
Punishment
Compounding

25
B. Directors
Penalty
None
Punishment
Compounding
C. Other Officers
in default
Penalty
None
Punishment
Compounding
For and on behalf of the Board of Directors
Place: Ahmedabad Milan Joshi
Date: 09.06.2021 Chairman
(DIN: 08970914)
Registered Office:
Adani House,
Nr Mithakhali Circle, Navrangpura,
Ahmedabad 380 009,
Gujarat
CIN: U45300GJ2005PTC046949

26
Disclosure for companies covered under section 178(1) on directors appointment and remuneration including
other matters provided under section 178(3) [Text Block]
Policy on directors’ appointment and remuneration:
The Company does not have any policy on directors’ appointment and remuneration and other matters since the provisions of Section 178 of
the Companies Act, 2013 is not applicable to the Company
Disclosure of statement on development and implementation of risk management policy [Text Block]
Business Risk Management:
Your Company has a formal risk assessment and management system which periodically identifies risk areas, evaluates their consequences,
initiates risk mitigation strategies and implements corrective actions where required

27
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
The Company has constituted Corporate Social Responsibility (CSR) Committee and has framed a CSR Policy the present members of the
Corporate Social Responsibility Committee are Mr. Milan Joshi (Chairman) and Mr. Rajesh Jain (Member).
The role and functions of the CSR Committee are in conformity with the requirements of Section 135 of the Companies Act, 2013 read with
rules made thereunder.
The Company considers Education, Community Health, Sustainable Livelihood Development, Rural Infrastructure Development and such
other sectors available for spending under its CSR activities and through Adani Foundation is identifying an area out of the above for its CSR
activities.
The Average net profit/ (loss) of the Company for last three financial years is in negative so the Company did not require to spent any
amount towards the CSR.

28
Disclosure of financial summary or highlights [Text Block]
Financial Results/Highlights:
(Rs. in lakhs)
Particulars
March, 2021
March, 2020
Revenue from operations 12,186.83 17,724.46
Other Income
2,407.67 2,428.67
Total Revenue 14,594.50 20,153.13
Less:
Expenditure for the year excluding Depreciation and
Amortization Exp.
14,195.51 20,798.30
Profit or (Loss) before Depreciation and Amortization Exp. 398.99 (645.17)
Less: Depreciation and Amortization Exp. 6.86 7.94
Profit or (Loss) after Depreciation and Amortization Exp.
But before Tax
392.13 (653.10)
Tax Expense (Including Deferred Tax)
74.08 44.29
Profit or (Loss) After tax 318.05 (697.39)

29
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
Directors and Key Managerial Personnel:
During the year, Mr. Madhusudana Rao Kalagarla and Mr. Laxmiprasad Choudhary resigned as Director w.e.f. 25th November, 2020 and
Mr. Milan Joshi and Mr. Rajesh Jain were appointed as an additional directors w.e.f. 25th November, 2020.
During the year under review, Mr. Krunal Jain, Company Secretary of the Company resigned w.e.f. 24th August, 2020
As on date, Mr. Milan Joshi and Mr. Rajesh Jain are the Directors of your Company and the Company does not have whole time Company
Secretary currently and the Company is searching the right candidate for the said post.
Since the Company does not fall within the category as mentioned in section 149(4) of the Companies Act, 2013 read with the rules made
thereunder requiring the appointment of Independent Directors, a statement in this Report relating to declaration by Independent Director
under sub-section (6) of section 149 of the Companies Act, 2013 is not applicable to the Company.
Your Company being Private Limited Company, none of the Directors are required to retire by rotation.
Disclosure of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies
during year [Text Block]
Subsidiaries, Joint Ventures and Associate Companies:
During the year under review, your Company continues to be wholly owned subsidiary of Adani Infrastructure and Developers Private
Limited. The Company does not have any Subsidiaries or Joint venture or Associate Companies

30
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
Internal financial control system and their adequacy:
The Company has an adequate internal financial control system, commensurate with the size, scale and complexity of its operations. The
Internal Audit Department monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with
operating systems, accounting procedures and policies of the Company

31
Statement showing details of employees of company under rule 5(2) and (3) of companies appointment and
remuneration of managerial personnels rules 2014 [Text Block]
Particulars of Employees:
The Company has not employed any individual whose remuneration falls within the purview of the limits prescribed under the provisions of
Section 197 of the Companies Act, 2013, read with rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014
Information as per Section 197 of the Companies Act, 2013 read with Rule 5(2) of The Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 of Adani Infrastructure and Developers Private Limited for Financial Year 2020-21
A. Personnel who are in receipt of remuneration aggregating not less than Rs. 1.02 Crores per annum and employed throughout the year.
Name
Age
(Years)
Designation
Gross
remunerations
(Rs.)
Qualification
Experience
(Years)
Date of
Joining
Previous employment
Mr.
Jackbastian
Nazareth 54
CEO
2,02,08,481/-
B.E (Civil) and MBA
(Marketing & Finance)
More than
30 Years
15-06-2020
Hiranandani,
Shobha Developers
Mr. Sunil Bhat 53
Vice President -
Head – Project
1,14,36,637/- B.E (Construction)
More than
25 Years
07-01-2019
Radius Developers,
Windsor Realty, Oberoi
Realty
B. Employed for a part of the financial year and were in receipt of remuneration for any part of the financial year at a rate which in
aggregate was not less than Rs. 8.5 lacs per month.
Name Age (Years) Designation Gross remunerations (Rs. In lacs) Qualification
Experience
(Years)
Date of Joining Previous employment
Not applicable

32
Notes: (1) Remuneration mentioned above includes Salary, Contribution to Provident and other funds and other perquisites.
(2) The nature of employment is contractual in all the above cases.
(3) None of the employees is related to any Director of the company.
(4) No individual employee is holding equivalent to or more than 2% of the outstanding shares of the Company as on 31st March, 2021.
Disclosure of details of establishment of vigil mechanism [Text Block]
Vigil Mechanism/Whistle Blower Policy:
The Company has formulated a Whistle Blower Policy to establish a vigil mechanism for Directors and Employees of the Company to report
to the management concerns about unethical behaviour, actual or suspected fraud or violation of the policy.

33
[700500] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)
Directors signing financial statements [Axis] 1 2
01/04/2020
to
31/03/2021
01/04/2020
to
31/03/2021
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director RAJESH MILAN
Last name of director JAIN JOSHI
Designation of director Director Director
Director identification number of director 08970945 08970914
Date of signing of financial statements by director 09/06/2021 09/06/2021

34
[700400] Disclosures - Auditors report
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis]
Auditor's
favourable remark
[Member]
Clause not
applicable
[Member]
01/04/2020
to
31/03/2021
01/04/2020
to
31/03/2021
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [LineItems]
Disclosure in auditors report relating to fixed assets as below
Disclosure relating to quantitative details of fixed assets
The company has
maintained proper
records showing full
particulars,
including
quantitative details
and situation of
fixed assets
Disclosure relating to physical verification and material discrepancies of fixed
assets
Textual information
(20) [See below]
Disclosure relating to title deeds of immovable properties
The title deeds of
immovable
properties (Land),
as disclosed in the
financial statements,
is held in the name
of the Company
Disclosure in auditors report relating to inventories
Textual information
(21) [See below]
Disclosure in auditors report relating to loans
Textual information
(22) [See below]
Disclosure in auditors report relating to compliance with Section 185 and 186 of
Companies Act, 2013
Textual information
(23) [See below]
Disclosure in auditors report relating to deposits accepted
Textual information
(24) [See below]
Disclosure in auditors report relating to maintenance of cost records
Textual information
(25) [See below]
Disclosure in auditors report relating to statutory dues [TextBlock] as below
Disclosure relating to regularity in payment of undisputed statutory dues
[TextBlock]
Textual information
(26) [See below]
Disclosure relating to disputed statutory dues [TextBlock]
Textual information
(27) [See below]
Disclosure in auditors report relating to default in repayment of financial dues
Textual information
(28) [See below]
Disclosure in auditors report relating to public offer and term loans used for
purpose for which those were raised
Textual information
(29) [See below]
Disclosure in auditors report relating to fraud by the company or on the
company by its officers or its employees reported during period
Textual information
(30) [See below]
Disclosure in auditors report relating to managerial remuneration
Textual information
(31) [See below]
Disclosure in auditors report relating to Nidhi Company
In our opinion, the
Company is not a
nidhi Company.
Accordingly the
provisions of
Clauses 3 (xii) of
the Order are not
applicable
Disclosure in auditors report relating to transactions with related parties
Textual information
(32) [See below]
Disclosure in auditors report relating to preferential allotment or private
placement of shares or convertible debentures
Textual information
(33) [See below]
Disclosure in auditors report relating to non-cash transactions with directors
or persons connected with him
Textual information
(34) [See below]

35
Disclosure in auditors report relating to registration under section 45-IA of
Reserve Bank of India Act, 1934
In our opinion, the
company is not
required to be
registered under
section 45 IA of the
Reserve Bank of
India Act, 1934 and
accordingly, the
provisions of clause
3(xvi) of the Order
are not applicable
Details regarding auditors [Table] ..(1)
Auditors [Axis] 1
01/04/2020
to
31/03/2021
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Name of audit firm
Shah Dhandharia &
Co. LLP
Name of auditor signing report
K A R A N
DINESHBHAI
AMLANI
Firms registration number of audit firm
118707W /
W100724
Membership number of auditor 193557
Address of auditors
807, Abhijeet - I,
Mithakali SIx R o a
d s , Navrangpura,
Ahmedabad -
380009, Gujarat
Permanent account number of auditor or auditor's firm AAGFM7049H
SRN of form ADT-1 T18405605
Date of signing audit report by auditors 09/06/2021
Date of signing of balance sheet by auditors 09/06/2021
01/04/2020
to
31/03/2021
Disclosure in auditor’s report explanatory [TextBlock]
[See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
contains adverse remarks
No
Disclosure relating to physical verification and material discrepancies of fixed assets
As explained to us, fixed assets, according to the practice of the Company, are physically verified by the management at reasonable intervals,
in a phased verification programme, which, in our opinion, is reasonable, looking to the size of the Company and the nature of its business
Disclosure in auditors report relating to inventories
The inventory has been physically verified by the management during the year. In our opinion, the frequency of verification is reasonable.
The discrepancies noticed on verification between the physical stocks and the book records were not material and have been properly dealt
with in the books of account
Disclosure in auditors report relating to loans
According to the information and explanation given to us and the records produced to us for our verification, the company has not granted
loans, secured or unsecured to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under
section 189 of the Companies Act, 2013. Accordingly the provisions of paragraph 3 (iii) (a) to (c) of the Order are not applicable

36
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013
According to the information and explanations given to us and representations made by the Management, the Company has complied with
the provisions of section 185 of the Act. Further based on the information and explanation given to us, being an infrastructure company,
provisions of section 186 of the Companies Act, 2013 is not applicable to the Company and hence not commented upon
Disclosure in auditors report relating to deposits accepted
The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provisions
of Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with regard to the
deposits accepted from the public are not applicable
Disclosure in auditors report relating to maintenance of cost records
We have broadly reviewed the books of accounts maintained by company in respect of products where, pursuant to the rules made by Central
Government of India, the maintenance of cost records have been prescribed under subsection (1) of section 148 of the Act and are of the
opinion that, prima facie the prescribed accounts and records have been made and maintained. We have not, however, made detailed
examination of records with a view to determine whether they are accurate or complete
Disclosure relating to regularity in payment of undisputed statutory dues [Text Block]
(a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, amounts
deducted/ accrued in the books of account in respect of undisputed statutory dues including income tax, Goods and Service Tax, value added
tax, cess and other material statutory dues have been generally regularly deposited during the year by the Company with the appropriate
authorities. As explained to us, the Company did not have any dues on account of provident fund,employees’ state insurance,duty of customs
and excise. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, Goods
and Service Tax, value added tax, cess and other material statutory dues were in arrears as at 31st March 2021, for a period of more than six
months from the date they became payable
Disclosure relating to disputed statutory dues [Text Block]
According to the records of the Company and representations made by the Management, there are no statutory dues as mentioned in
paragraph 3(vii)(a) which have not been deposited on account of any dispute
Disclosure in auditors report relating to default in repayment of financial dues
Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that the Company
has not defaulted in repayment of dues to any bank.During the year company has not taken any loan from financial Institutions, the
government or through issue of debenture
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
Based upon the audit procedures performed and the information and explanations given by the management, the company has not raised
moneys by way of initial public offer or further public offer (including debt instruments). In our opinion and as per information and
explanation given by the management, the fund raised through term loan during the year have been applied for the purpose for which it was
raised

37
Disclosure in auditors report relating to fraud by the company or on the company by its officers or its employees
reported during period
During the course of our examination of the books and records of the company, carried out in accordance with the generally accepted
auditing practice in India, and according to the information and explanation given to us, we have neither come across any instance of fraud
on or by the company, noticed or reported during the year
Disclosure in auditors report relating to managerial remuneration
According to the information and explanations given to us and on the basis of our examination of the records of the Company, managerial
remuneration has not been paid/provided. Accordingly the provisions of Clauses 3(xi) of the Order are not applicable
Disclosure in auditors report relating to transactions with related parties
As per information and explanation given to us and on the basis of our examination of the records of the Company, all the transaction with
related parties are in compliance with section177 and 188 of Companies Act 2013 where applicable and all the details have been disclosed in
financial statements as required by the applicable Accounting Standards
Disclosure in auditors report relating to preferential allotment or private placement of shares or convertible
debentures
According to the information and explanations given to us and on the basis of our examination of the records, the Company has not made any
preferential allotment or private placement or not issued any debenture during the year under review. Accordingly the provisions of
paragraph 3(xiv) of the Order are not applicable
Disclosure in auditors report relating to non-cash transactions with directors or persons connected with him
According to the information and explanations given to us and on the basis of our examination of the records, Company has not entered into
any non-cash transactions with any director or any person connected with him. Accordingly the provisions of Clauses 3(xv) of the Order are
not applicable to the Company

38
Disclosure in auditor’s report explanatory [Text Block]
Independent Auditors Report
To the Members of Adani Estate Private Limited
Report on the audit of the Financial Statements
Opinion
We have audited the accompanying Financial Statements of Adani Estate Private Limited (the Company), which comprise the Balance Sheet
as at 31st March, 2021, the Statement of Profit and Loss (including other comprehensive income), the Statement of Cash Flows and the
Statement of Changes in Equity for the year then ended, and a summary of significant accounting policies and other explanatory information
(herein after referred to as Financial Statements).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements, give the
information required by the Companies Act, 2013 (the Act) in the manner so required and give a true and fair view in conformity with the
Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015,
as amended, (Ind AS) and other accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March,
2021, and its profit, total comprehensive income, its cash flows and changes in equity for the year ended on that date.
Basis for Opinion
We conducted our audit of the financial statements in accordance with the Standards on Auditing specified under section 143(10) of the Act
(SAs). Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Financial
Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of
Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the financial statements
under the provisions of the Act and the Rules made there under, and we have fulfilled our other ethical responsibilities in accordance with
these requirements and the ICAIs Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on the financial statements.
Other Information
The Companys board of directors is responsible for the preparation of the other information. The other information comprises the
information included in the Management Discussion and Analysis, Boards Report including Annexures to Boards Report, but does not
include the financial statements and our auditors report thereon.

39
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion
thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether
the other information is materially inconsistent with the financial statements or our knowledge obtained during the course of our audit or
otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of
this other information, we are required to report that fact. We have nothing to report in this regard.
Managements Responsibility for the Financial Statements
The Companys Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (the Act) with respect
to the preparation and presentation of these Financial Statements that give a true and fair view of the financial position, financial performance
including other comprehensive income, cash flows and changes in equity of the Company in accordance with the accounting principles
generallyaccepted in India, including the applicable Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Act, read
with the Companies (Indian Accounting Standards) Rules, 2015, as amended.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding
the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the Financial Statements that give a true and fair view and are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Companys ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends
to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are responsible for overseeing the Companys financial reporting process.
Auditors Responsibility
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement,
whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but
is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements
can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit.
We also:

40
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform
audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The
risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the
circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate
internal financial controls system in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made
by management.
Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the
related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the
audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to
continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial
statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
Other Matter
The financial statement of the company for the year ended 31stMarch, 2020 were audited by another firm (or firm of auditors) who expressed
an unmodified opinion on those financial statements in their report dated 23rd July,2020.

41
Our report is not modified in respect of above matters.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report) Order, 2016 (the Order) issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in Annexure A statement on the matters specified in the paragraph 3 and 4 of the Order, to
the extent applicable.
2. As required by section 143(3) of the Act, we report that:
a. we have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of our audit;
b. in our opinion proper books of account as required by law have been kept by the Company so far as it appears from our examination of
those books;
c. the Balance Sheet, the Statement of Profit and Loss (including other comprehensive income), the Statement of Cash Flows and the
Statement of Changes in Equity dealt with by this Report are in agreement with the books of account;
d. in our opinion, the aforesaid Financial Statements comply with the Indian Accounting Standards specified under Section 133 of the Act,
read with the Companies (Indian Accounting Standards) Rules, 2015, as amended;
e. on the basis of the written representations received from the directors as on 31st March, 2021 taken on record by the Board of
Directors, none of the directors is disqualified as on 31st March, 2021 from being appointed as a director in terms of Section 164(2) of the
Act;
f. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness
of such controls, refer to our separate report in Annexure B;
g. with respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

42
i. The Company does not have any pending litigations which would impact its financial position;
ii. The Company did not have any long-term contracts including derivative contracts for which there were any material
foreseeable losses.
iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the
Company.
3. With respect to the matters to be included in the Auditors Report in accordance with the requirements of section 197(16) of the Act, as
amended:
According to the information and explanations given to us and on the basis of our examination of the records of the Company, managerial
remuneration has not been paid /provided. Accordingly, reporting under section 197(16) of the Act is not applicable.
For, SHAH DHANDHARIA & CO LLP
Chartered Accountants
Place: Ahmedabad Firm Reg. No. 118707W/W100724
Date: 09/06/2021
Karan Amlani
Partner
Membership No. 193557
UDIN 21193557AAAADA8683

43

44
RE: ADANI ESTATE PRIVATE LIMITED
ANNEXURE A TO THE INDEPENDENT AUDITORS REPORT
(Referred to in Paragraph 1 of our Report of even date)
The Annexure referred to in our Independent Auditors Report to the members of the Company on the Financial Statements for the year ended
31st March, 2021, we report that:
(i) (a) The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.
(b) As explained to us, fixed assets, according to the practice of the Company, are physically verified by the management at reasonable
intervals, in a phased verification programme, which, in our opinion, is reasonable, looking to the size of the Company and the nature of its
business.
(c) The title deeds of immovable properties (Land), as disclosed in the financial statements, is held in the name of the Company.
(ii) The inventory has been physically verified by the management during the year. In our opinion, the frequency of verification is
reasonable. The discrepancies noticed on verification between the physical stocks and the book records were not material and have been
properly dealt with in the books of account.
(iii) According to the information and explanation given to us and the records produced to us for our verification, the company has not
granted loans, secured or unsecured to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained
under section 189 of the Companies Act, 2013. Accordingly the provisions of paragraph 3 (iii) (a) to (c) of the Order are not applicable.
(iv) According to the information and explanations given to us and representations made by the Management, the Company has complied
with the provisions of section 185 of the Act. Further based on the information and explanation given to us, being an infrastructure company,
provisions of section 186 of the Companies Act, 2013 is not applicable to the Company and hence not commented upon.
(v) The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the
provisions of Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with
regard to the deposits accepted from the public are not applicable.

45
(vi) We have broadly reviewed the books of accounts maintained by company in respect of products where, pursuant to the rules made
by Central Government of India, the maintenance of cost records have been prescribed under subsection (1) of section 148 of the Act and are
of the opinion that, prima facie the prescribed accounts and records have been made and maintained. We have not, however, made detailed
examination of records with a view to determine whether they are accurate or complete.
(vii) (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company,
amounts deducted/ accrued in the books of account in respect of undisputed statutory dues including income tax, Goods and Service Tax,
value added tax, cess and other material statutory dues have been generally regularly deposited during the year by the Company with the
appropriate authorities. As explained to us, the Company did not have any dues on account of provident fund,employees state insurance,duty
of customs and excise.
(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income tax, Goods and Service
Tax, value added tax, cess and other material statutory dues were in arrears as at 31st March 2021, for a period of more than six months from
the date they became payable.
(c) According to the records of the Company and representations made by the Management, there are no statutory dues as mentioned in
paragraph 3(vii)(a) which have not been deposited on account of any dispute
(viii) Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to any bank.During the year company has not taken any loan from financial Institutions, the
government or through issue of debenture.
(ix) Based upon the audit procedures performed and the information and explanations given by the management, the company has not
raised moneys by way of initial public offer or further public offer (including debt instruments). In our opinion and as per information and
explanation given by the management, the fund raised through term loan during the year have been applied for the purpose for which it was
raised.
(x) During the course of our examination of the books and records of the company, carried out in accordance with the generally
accepted auditing practice in India, and according to the information and explanation given to us, we have neither come across any instance
of fraud on or by the company, noticed or reported during the year.
(xi) According to the information and explanations given to us and on the basis of our examination of the records of the Company,
managerial remuneration has not been paid/provided. Accordingly the provisions of Clauses 3(xi) of the Order are not applicable.
(xii) In our opinion, the Company is not a nidhi Company. Accordingly the provisions of Clauses 3 (xii) of the Order are not applicable.

46
(xiii) As per information and explanation given to us and on the basis of our examination of the records of the Company, all the transaction
with related parties are in compliance with section177 and 188 of Companies Act 2013 where applicable and all the details have been
disclosed in financial statements as required by the applicable Accounting Standards.
(xiv) According to the information and explanations given to us and on the basis of our examination of the records, the Company has not
made any preferential allotment or private placement or not issued any debenture during the year under review. Accordingly the provisions of
paragraph 3(xiv) of the Order are not applicable.
(xv) According to the information and explanations given to us and on the basis of our examination of the records, Company has not entered
into any non-cash transactions with any director or any person connected with him. Accordingly the provisions of Clauses 3(xv) of the Order
are not applicable to the Company.
(xvi) In our opinion, the company is not required to be registered under section 45 IA of the Reserve Bank of India Act, 1934 and
accordingly, the provisions of clause 3(xvi) of the Order are not applicable.
Place : Ahmedabad Firm Reg. No. 118707W/W100724
Date : 09/06/2021
Karan Amlani
Partner
UDIN 21193557AAAADA8683

47
RE: ADANI ESTATE PRIVATE LIMITED
ANNEXURE B TO THE INDEPENDENT AUDITORS REPORT
Referred to in paragraph 2(f) of the Independent Auditors Report of even date to the members of AdaniEstate Private Limitedon the financial
statement for the year ended 31stMarch, 2021.
Report on the Internal Financial Controls under Clause i of sub-section 3 of section 143 of the Companies Act 2013 (the act).
Opinion
We have audited the internal financial controls over financial reporting of the Adani Estate Private Limited(the company) as of 31st March,
2021 in conjunction with our audit of the Financial Statements of the company for the year ended on that date. In our opinion, the Company
has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over
financial reporting were operating effectively as at 31st March, 2021, based on the internal control over financial reporting criteria
established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal
Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
Managements Responsibilities for Internal Financial Controls
The Companys management is responsible for establishing and maintaining internal financial controls based on the internal control over
financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note
on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These
responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct of its business, including adherence to companys policies, the safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable
financial information, as required under the Companies Act, 2013.
Auditors Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We
conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the Guidance
Note) and the Standards onAuditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the
extent applicable to an audit of internal financial controls.Those Standards and the Guidance Note require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial
reporting was established and maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial
reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an

48
understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and
evaluating the design and operating effectiveness of internal control based on the assessedrisk. The procedures selected depend on the
auditorsjudgment, including the assessment of the risks of material misstatement of the Financial Statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys
internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over FinancialReporting
A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper
management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any
evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control
over financialreporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
Place : Ahmedabad Firm Reg. No. 118707W/W100724
Date : 09/06/2021
Karan Amlani
Partner

49
UDIN -21193557AAAADA8683
[700700] Disclosures - Secretarial audit report
Details of signatories of secretarial audit report [Table] ..(1)
Signatories of secretarial audit report [Axis] 1
01/04/2020
to
31/03/2021
Details of signatories of secretarial audit report [Abstract]
Details of signatories of secretarial audit report [LineItems]
Category of secretarial auditor Individual
Name of secretarial audit firm Paliwal & Co.
Name of secretarial auditor signing report
A L P E S H
RAMESHBHAI
PALIWAL
Firms registration number of secretarial audit firm I2013GJ1046200
Membership number of secretarial auditor 32500
Certificate of practice number of secretarial auditor 12119
Date of signing secretarial audit report 21/07/2021
01/04/2020
to
31/03/2021
Disclosure in secretarial audit report explanatory [TextBlock]
[See below]
Whether secretarial audit report is applicable on company Yes
Whether secretarial audit report has been qualified or has any
observation or other remarks
No

50
Disclosure in secretarial audit report explanatory [Text Block]
SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR
ENDED 31 MARCH 2021
[Pursuant to section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014]
To,
The Members,
Adani House, Nr. Mithakhali Six Roads, Navrangura, Ahmedabad, Gujarat-380009, India
I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by
M/S. ADANI ESTATES PRIVATE LIMITED (hereinafter called ‘the Company). Secretarial Audit was conducted in a manner that provided
me a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion thereon.
Based on my verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the
Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of
secretarial audit, I hereby report that in my opinion, the Company has, during the audit period covering the financial year ended on 31 March,
2021 (‘Audit Period’) complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and
compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:
I have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year
ended on 31 March, 2021 according to the provisions of:
(i) The Companies Act, 2013 (the Act) and the rules made there under;
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made there under; (Not Applicable to the Company during the

51
Audit Period)
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed there under; (Not Applicable to the Company during the Audit
Period).
(iv) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act,1992 (‘SEBI Act’): —
a. The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; (Not Applicable to
the Company during the Audit Period)
b. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992; (Not Applicable to the Company during
the Audit Period)
c. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (Not applicable to
theCompany during the Audit Period);
d. The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999;
e. The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; (Not applicable to the Company
during the Audit Period)
f. The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the
Companies Act and dealing with client; (Not applicable to the Company during the Audit Period)
g. The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; (Not applicable to the Company during the
Audit Period); and
h. The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998; (Not applicable to the Company during the Audit
Period).
I have also examined compliance with the applicable clauses of the following:

52
(i) Secretarial Standards issued by The Institute of Company Secretaries of India
(ii) The Uniform Listing Agreement entered into by the Company with Stock Exchanges pursuant to the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 and other applicable regulations /guidelines/circulars as may be issued by SEBI from time to
time. (Not Applicable to the Company during the Audit Period)
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc.
mentioned above subject to the following observations/qualification: Nil
I further report that, having regard to the compliance system prevailing in the Company and on examination of the relevant documents and
records in pursuance thereof, on test-check basis, the Company has complied with the following laws applicable specifically to the Company:
i. Real Estate (Regulation and Development) Act, 2016
I further report that the Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive
Directors and Independent Directors required, if any.
The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with
the provisions of the Act.
Adequate notice is given to all directors to schedule theBoard Meetings, agenda and detailed notes on agenda were sent at least seven days in
advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for
meaningful participation at the meeting.
All decisions at Board Meetings and Committee Meetings are carried out with requisite majority as recorded in the minutes of the meetings
of the Board of Directors or Committee of the Board, as the case may be.
I further report that there are adequate systems and processes in the Company commensurate with the size and operations of the company to
monitor and ensure compliance with applicable laws, rules, regulations and guidelines.
For, Paliwal & Co.

53
Date: 21.07.2021
Place: Ahmedabad
(Formerly Known as
Alpesh Dhandhlya & Associates)
Company Secretaries
______________
Alpesh Paliwal
Proprietor
COP: 12119
UCN: I2013GJ1046200
Peer Review Registration Number: 508/2017
UDIN: A032500C000667123
To,
The Members,
Adani House, Nr. Mithakhali Six Roads,
Navrangura, Ahmedabad,
Gujarat-380009, India
Our report of even date is to be read along with this letter:
1. Maintenance of Secretarial record is the responsibility of the management of the Company. Our responsibility is to express an opinion
on these secretarial records based on our audit.
2. We have followed the audit practices and process as were appropriate to obtain reasonable assurance about the correctness of the
contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in Secretarial records. We
believe that the process and practices, we followed provide a reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company and we have not
verified the various compliance requirement of the Real Estate (Regulation and Development) Act, 2016 and wherever necessary, we have
relied upon the management representation provided by the Company.

54
4. Wherever required, we have obtained the Management representation about the Compliance of laws, rules and regulations and happening
of events etc.
5. The Compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of the
management. Our examination was limited to the verification of procedure on test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with
which the management has conducted the affairs of the Company.
Date: 21.07.2021
Place: Ahmedabad
For, Paliwal & Co.
(Formerly Known as
Alpesh Dhandhlya & Associates)
Company Secretaries
______________
Alpesh Paliwal
Proprietor
COP: 12119
UCN: I2013GJ1046200
Peer Review Registration Number: 508/2017
UDIN: A032500C000667123

55
[110000] Balance sheet
31/03/2021 31/03/2020 31/03/2019
Balance sheet [Abstract]
Assets [Abstract]
Non-current assets [Abstract]
Property, plant and equipment 24,37,966 17,09,347
Other intangible assets 0 0
Non-current financial assets [Abstract]
Non-current investments 0 0
Loans, non-current 0 0
Total non-current financial assets 0 0
Other non-current assets (A) 11,51,15,767 (B) 31,48,76,685
Total non-current assets 11,75,53,733 31,65,86,032
Current assets [Abstract]
Inventories 13,49,72,196 104,10,12,260
Current financial assets [Abstract]
Current investments 0 0
Trade receivables, current 0 7,77,13,513
Cash and cash equivalents 4,27,36,340 71,32,860
Bank balance other than cash and cash equivalents 3,59,238 2,98,71,669
Loans, current 614,46,28,756 673,10,73,290
Other current financial assets 5,64,89,081 1,01,89,999
Total current financial assets 624,42,13,415 685,59,81,331
Other current assets (C) 81,68,57,698 (D) 77,27,06,484
Total current assets 719,60,43,309 866,97,00,075
Total assets 731,35,97,042 898,62,86,107
Equity and liabilities [Abstract]
Equity [Abstract]
Equity attributable to owners of parent [Abstract]
Equity share capital 10,00,00,000 10,00,00,000 10,00,00,000
Other equity (E) 630,22,58,452 (F) 626,90,42,657
Total equity attributable to owners of parent 640,22,58,452 636,90,42,657
Non controlling interest 0 0
Total equity 640,22,58,452 636,90,42,657
Liabilities [Abstract]
Non-current liabilities [Abstract]
Non-current financial liabilities [Abstract]
Borrowings, non-current 46,81,48,910 51,35,55,911
Total non-current financial liabilities 46,81,48,910 51,35,55,911
Provisions, non-current 2,23,33,382 1,44,52,276
Total non-current liabilities 49,04,82,292 52,80,08,187
Current liabilities [Abstract]
Current financial liabilities [Abstract]
Borrowings, current 8,27,24,855 53,80,02,665
Trade payables, current (G) 6,57,15,225 (H) 18,53,20,386
Other current financial liabilities 16,42,50,407 131,72,14,709
Total current financial liabilities 31,26,90,487 204,05,37,760
Other current liabilities 10,30,92,301 4,70,63,745
Provisions, current 50,73,510 16,33,758
Total current liabilities 42,08,56,298 208,92,35,263
Total liabilities 91,13,38,590 261,72,43,450
Total equity and liabilities 731,35,97,042 898,62,86,107

56
Footnotes
(A) Other Non-current Assets : 87193999 Income Tax Assets (Net) : 27921768
(B) Other Non-current Assets : 220243999 Income Tax Assets (Net) : 94632686
(C) Other Current Assets : 816857698
(D) Other Current Assets : 772706484
(E) Instrument Entirely Equity in Nature : 6094569800 Other Equity : 207688652
(F) Instrument Entirely Equity in Nature : 6094569800 Other Equity : 174472857
(G) - micro enterprise & small enterprise : 266913 - other than micro enterprises & small enterprises : 65448312
(H) - micro enterprise & small enterprise : 1535398 - other than micro enterprises & small enterprises : 183784988
[210000] Statement of profit and loss
Earnings per share [Table] ..(1)
Classes of equity share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Statement of profit and loss [Abstract]
Earnings per share [Abstract]
Earnings per share [Line items]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from
continuing operations
[INR/shares] 3.18 [INR/shares] -6.97 [INR/shares] 3.18 [INR/shares] -6.97
Basic earnings (loss) per share from
discontinued operations
[INR/shares] 0 [INR/shares] 0
Total basic earnings (loss) per share [INR/shares] 3.18 [INR/shares] -6.97 [INR/shares] 3.18 [INR/shares] -6.97
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from
continuing operations
[INR/shares] 0.29 [INR/shares] -6.97 [INR/shares] 0.29 [INR/shares] -6.97
Diluted earnings (loss) per share from
discontinued operations
Total diluted earnings (loss) per share [INR/shares] 0.29 [INR/shares] -6.97 [INR/shares] 0.29 [INR/shares] -6.97

57
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Statement of profit and loss [Abstract]
Income [Abstract]
Revenue from operations 121,86,83,213 177,24,46,174
Other income 24,07,67,230 24,28,67,149
Total income 145,94,50,443 201,53,13,323
Expenses [Abstract]
Cost of materials consumed 89,82,69,516 130,99,39,824
Changes in inventories of finished goods, work-in-progress and
stock-in-trade
0 0
Employee benefit expense 18,40,42,128 16,35,58,993
Finance costs 16,96,00,581 37,30,62,824
Depreciation, depletion and amortisation expense 6,85,790 7,94,089
Other expenses 16,76,39,714 23,32,67,923
Total expenses 142,02,37,729 208,06,23,653
Profit before exceptional items and tax 3,92,12,714 -6,53,10,330
Total profit before tax 3,92,12,714 -6,53,10,330
Tax expense [Abstract]
Current tax (A) 74,08,032 (B) 44,29,003
Total tax expense 74,08,032 44,29,003
Total profit (loss) for period from continuing operations 3,18,04,682 -6,97,39,333
Total profit (loss) for period 3,18,04,682 -6,97,39,333
Comprehensive income OCI components presented net of tax [Abstract]
Whether company has other comprehensive income OCI components
presented net of tax
No No
Other comprehensive income net of tax [Abstract]
Components of other comprehensive income that will not be
reclassified to profit or loss, net of tax [Abstract]
Other comprehensive income, net of tax, gains (losses) on
remeasurements of defined benefit plans (C) 14,11,114 (D) -48,273
Total other comprehensive income that will not be reclassified
to profit or loss, net of tax
14,11,114 -48,273
Total other comprehensive income 14,11,114 -48,273
Total comprehensive income 3,32,15,796 -6,97,87,606
Comprehensive income OCI components presented before tax [Abstract]
Whether company has comprehensive income OCI components presented
before tax
No No
Other comprehensive income before tax [Abstract]
Total other comprehensive income 14,11,114 -48,273
Earnings per share explanatory [TextBlock]
Earnings per share [Abstract]
Basic earnings (loss) per share from continuing operations [INR/shares] 3.18 [INR/shares] -6.97
Total basic earnings (loss) per share [INR/shares] 3.18 [INR/shares] -6.97
Diluted earnings (loss) per share from continuing operations [INR/shares] 0.29 [INR/shares] -6.97
Total diluted earnings (loss) per share [INR/shares] 0.29 [INR/shares] -6.97
Footnotes
(A) Current Tax : 8250720 Adjustment of earlier years : -842688
(B) Current Tax : 842688 Adjustment of earlier years : 3586315
(C) - Reimbursement of Defined Benefit Plans : 1885709 - Income Tax Effect relating to above item : -474595
(D) - Reimbursement of Defined Benefit Plans : -48273 - Income Tax Effect relating to above item : 0

58
[400200] Statement of changes in equity
Statement of changes in equity [Table] ..(1)
Components of equity [Axis] Equity [Member]
Equity attributable
to the equity
holders of the
parent [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 3,18,04,682 -6,97,39,333 3,18,04,682
Changes in comprehensive income components 14,11,113 -48,273 14,11,113
Total comprehensive income 3,32,15,795 -6,97,87,606 3,32,15,795
Total increase (decrease) in equity 3,32,15,795 -6,97,87,606 3,32,15,795
Other equity at end of period 630,22,58,452 626,90,42,657 633,88,30,263 630,22,58,452
Components of equity [Axis]
Equity attributable to the equity
holders of the parent [Member]
Equity component of financial
instrument [Member]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Equity [Abstract]
Profit (loss) for period -6,97,39,333 0 0
Changes in comprehensive income components -48,273
Total comprehensive income -6,97,87,606 0 0
Total increase (decrease) in equity -6,97,87,606 0 0
Other equity at end of period 626,90,42,657 633,88,30,263 609,45,69,800 (A) 609,45,69,800
Footnotes
(A) Instrument Entirely Equity in Nature 0 % Compulsorily Convertible Debentures classified as Equity (Refer Note Below) Note:
6,09,45,698 Compulsorily Convertible Debentures (CCD) each of face value of Rs. 100/- each. The original Debenture Subscription
Agreement dated June 06, 2012 provided that 'simple interest rate per annum payable on half yearly basis' to be mutually agreed at
the time of allotment, supplement agreement dated August 6,2012 provided 9% rate of interest for the same. However,
supplementary agreement dated September 10, 2012 for the same provided that the discretion to pay interest by the Investee
Company shall depend on the viability and visibility of the project, to the satisfaction of the Investee Company. Accordingly
company has decided not to provide/pay interest in the current financial year. The Conversion period shall be on expiry of 3 years
from the date of issuance of the Investor's CCDs, extendable for further 3 additional one years with the mutual consent of the parties.
vide Agreement dated June 06, 2012, supplementary agreement dated September 10, 2012 for the same provided that the Investor is
entitled to 10,15,35,533 no of Equity Shares after conversion. The company vide agreement date 5th June,2015 agreed to amend and
extend the conversion period of three additional one year period of conversion as mentioned under clause (i) of the Annexure 1 of
the original agreement and the period of converting the CCD's into Equity shares of the company under the original agreement is
now agreed and extended until 5th June ,2018 and that the CCDs have been converted into the Equity Shares of the company at
anytime within said extended period of 3 years.

59
Components of equity [Axis]
Equity component
of financial
instrument
[Member]
Reserves [Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
Equity [Abstract]
Profit (loss) for period 3,18,04,682 -6,97,39,333
Changes in comprehensive income components 14,11,113 -48,273
Total increase (decrease) in equity 3,32,15,795 -6,97,87,606
Components of equity [Axis] Retained earnings [Member]
Other retained
earning [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
Equity [Abstract]
Profit (loss) for period 3,18,04,682 -6,97,39,333 3,18,04,682
Changes in comprehensive income components 14,11,113 -48,273 14,11,113
Total comprehensive income 3,32,15,795 -6,97,87,606 3,32,15,795
Total increase (decrease) in equity 3,32,15,795 -6,97,87,606 3,32,15,795
Components of equity [Axis] Other retained earning [Member]
01/04/2019
to
31/03/2020
31/03/2019
Equity [Abstract]
Profit (loss) for period -6,97,39,333
Changes in comprehensive income components -48,273
Total comprehensive income -6,97,87,606
Total increase (decrease) in equity -6,97,87,606
Other equity at end of period 17,44,72,857 24,42,60,463

60
[320000] Cash flow statement, indirect
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before tax 3,92,12,714 -6,53,10,330
Adjustments for reconcile profit (loss) [Abstract]
Adjustments for finance costs 16,96,00,581 37,30,62,824
Adjustments for decrease (increase) in inventories 90,60,40,065 131,82,49,076
Adjustments for decrease (increase) in trade receivables, current 7,12,72,482 -6,31,26,129
Adjustments for decrease (increase) in other current assets -4,41,51,214 28,71,06,784
Adjustments for other financial assets, current -34,31,282 -22,81,080
Adjustments for increase (decrease) in trade payables, current -8,67,54,326 -16,25,44,027
Adjustments for increase (decrease) in other current liabilities 5,60,28,556 1,64,90,030
Adjustments for depreciation and amortisation expense 6,85,790 7,94,089
Adjustments for other financial liabilities, current -3,51,78,835 -1,35,65,633
Adjustments for interest income 19,82,24,480 23,83,46,196
Other adjustments to reconcile profit (loss) (A) -2,64,09,807
(B) 0
Other adjustments for non-cash items (C) 1,32,06,566 (D) 42,88,459
Total adjustments for reconcile profit (loss) 82,26,84,096 152,01,28,197
Net cash flows from (used in) operations 86,18,96,810 145,48,17,867
Income taxes paid (refund) -5,88,28,290 3,21,49,276
Net cash flows from (used in) operating activities 92,07,25,100 142,26,68,591
Cash flows from used in investing activities [Abstract]
Purchase of property, plant and equipment 14,14,407 89,499
Interest received 15,53,56,680 23,67,97,733
Other inflows (outflows) of cash (E) 74,90,06,965 (F) 111,62,38,159
Net cash flows from (used in) investing activities 90,29,49,238 135,29,46,393
Cash flows from used in financing activities [Abstract]
Proceeds from borrowings 0 140,85,53,351
Repayments of borrowings (G) 161,42,43,005 (H) 384,87,96,085
Interest paid 17,38,27,853 35,84,53,915
Net cash flows from (used in) financing activities -178,80,70,858 -279,86,96,649
Net increase (decrease) in cash and cash equivalents before effect of
exchange rate changes
3,56,03,480 -2,30,81,665
Net increase (decrease) in cash and cash equivalents 3,56,03,480 -2,30,81,665
Cash and cash equivalents cash flow statement at end of period 4,27,36,340 71,32,860 3,02,14,525
Footnotes
(A) Liabilities No Loner required : -32850837 Bad Debts written off : 6441030
(B) Liabilities No Loner required : 0 Bad Debts written off : 0
(C) Provisions : 13206566
(D) Provisions : 4288459
(E) Loans (Given to) / Received Back (Net) : 719494534 Change in Bank Deposit (Other than Cash equivalent) : 29512431
(F) Loans (Given to) / Received Back (Net) : 1145784154 Change in Bank Deposit (Other than Cash equivalent) : -29545995
(G) Repayment of Long Term Borrowing : 1107028135 Proceeds/(Repayment) from short-term borrowings (Net) : 507214870
(H) Repayment of Long Term Borrowing : 2672982357 Proceeds/(Repayment) from short-term borrowings (Net) : 1175813728

61
[610100] Notes - List of accounting policies
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of significant accounting policies [TextBlock] AS PROVIDED AS PROVIDED
Description of accounting policy for measuring inventories [TextBlock]
[See below]
Description of accounting policy for measuring inventories [Text Block]
Inventories
Costs of construction / development expenditure incurred on the Projects are accumulated under “Construction
Work-in-progress” and the same is valued at cost or net realizable value, whichever is lower.
Construction / development expenditure includes all direct and indirect expenditure incurred on development of land /
construction at site, overheads relating to site management and administration, allocated interest and expenses incidental to the
projects undertaken by the Company.
Net realisable value has been determined based on prevailing average sale price of the property sold during the year as reduced
by future estimated cost of completion to be incurred as determined by the management with the help of technical experts based
on percentage of completion. Such expenses are accumulated under head "Construction Work-In-Progress" till Building Use
permission is received. After Building Use (BU) permission subsequent expenses are being charged off to Profit & Loss
Account.
After receiving BU permission unsold inventories are being treated as Finished Goods and is valued at cost or net realisable
value whichever is lower.
Stores and Construction Materials are valued at lower of cost or net realisable value. cost includes cost of purchase and other
expenses incurred in bringing them to their respective present location and condition. Cost is determined using Weighted
Average Method of Inventory Valuation.

62
[610200] Notes - Corporate information and statement of IndAs compliance
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of corporate information notes and other explanatory information
[TextBlock]
[See below]
Statement of Ind AS compliance [TextBlock] AS PROVIDED AS PROVIDED
Whether there is any departure from Ind AS No No
Whether there are reclassifications to comparative amounts No No
Description of reason why reclassification of comparative amounts is
impracticable
NA NA
Description of nature of necessary adjustments to provide comparative
information
NA NA
Disclosure of significant accounting policies [TextBlock] AS PROVIDED AS PROVIDED
Explanation of measurement bases used in preparing financial
statements [TextBlock]
[See below]
Disclosure of objectives, policies and processes for managing capital
[TextBlock]
[See below]
Disclosure of corporate information notes and other explanatory information [Text Block]
Corporate information
The company having CIN U45300GJ2005PTC046949, has been incorporated on 20.10.2005 with the object to developing,
appraising, maintaining, operating, and marketing of real estate property. The company had developed Project named "Western
Heights" comprising of residential and Commercial Units. The Company had also received Occupancy Certificate of the project.
Explanation of measurement bases used in preparing financial statements [Text Block]
Statement of compliance
The Financial Statements have been prepared in accordance with Indian Accounting Standards (Ind AS) as per The Companies
(Indian Accounting Standards), Rules, 2015 notified under section 133 of The Companies Act, 2013 (the Act) an other relevant
provisions of the Act.

63
Disclosure of objectives, policies and processes for managing capital [Text Block]
Capital Management
The Company’s objectives when managing capital is to safeguard continuity and healthy capital ratios
in order to support its business and provide adequate return to shareholders through continuing growth.
The Company’s overall strategy remains unchanged from previous year.
The Company sets the amount of capital required on the basis of annual business and long-term
operating plans which include capital and other strategic investments.
The funding requirements are met through a mixture of equity, internal fund generation, borrowings.
The Company’s policy is to use borrowings to meet anticipated funding requirements. The Company
monitors capital on the basis of the net debt to equity ratio.
No changes were made in the objectives, policies or processes for managing capital during the years
ended as at 31st March, 2021 and as at 31st March, 2020.
Particulars
As at
31st
March,
2021
As at
31st March,
2020
Net debt (total debt less cash and cash equivalents) (A)
607,023,492 2,207,291,460
Total capital (B)
307,688,652 274,472,857
Total capital and net debt C=(A+B)
914,712,144 2,481,764,317
Gearing ratio (A/C) 66.36% 88.94%

64
[610300] Notes - Accounting policies, changes in accounting estimates and errors
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of changes in accounting policies, accounting estimates and errors
[TextBlock]
Disclosure of initial application of standards or interpretations
[TextBlock]
Whether initial application of an Ind AS has an effect on the
current period or any prior period
No No
Disclosure of voluntary change in accounting policy [TextBlock]
Whether there is any voluntary change in accounting policy No No
Disclosure of changes in accounting estimates [TextBlock]
Whether there are changes in acounting estimates during the year No No
[400600] Notes - Property, plant and equipment
Disclosure of detailed information about property, plant and equipment [Table] ..(1)
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
amount [Axis]
Carrying amount [Member] Gross carrying amount [Member]
31/03/2021 31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and
equipment
14,14,408 3,96,215
Total increase (decrease) in property,
plant and equipment
14,14,408 3,96,215
Property, plant and equipment at end of
period
24,37,966 17,09,347 70,93,879 56,79,471

65
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
amount [Axis]
Gross carrying
amount [Member]
Accumulated depreciation and impairment [Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
loss
6,85,790 7,93,841
Total Depreciation property plant and
equipment
6,85,790 7,93,841
Disposals and retirements, property,
Disposals, property, plant and
equipment
1
Total disposals and retirements,
property, plant and equipment
1
plant and equipment
6,85,789 7,93,841
period
52,83,256 46,55,913 39,70,124 31,76,283
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
amount [Axis]
Carrying amount [Member]
Gross carrying
amount [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
loss
-41,791 -41,791
equipment
-41,791 -41,791
plant and equipment
-41,791 -41,791 0
period
3,62,776 4,04,567 4,46,358 5,78,939

66
amount [Axis]
Gross carrying amount [Member]
Accumulated depreciation and
impairment [Member]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
loss
41,791 41,791
equipment
41,791 41,791
plant and equipment
0 41,791 41,791
period
5,78,939 5,78,939 2,16,163 1,74,372
Sub classes of property, plant and equipment [Axis]
Owned and leased
assets [Member]
Owned assets [Member]
amount [Axis]
Accumulated
depreciation and
impairment
[Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
plant and equipment
0 0
period
1,32,581 5,78,939 5,78,939 5,78,939

67
Other plant and
equipment
[Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Owned and leased
assets [Member]
amount [Axis]
Carrying amount
[Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
loss
41,791 41,791 -41,791
equipment
41,791 41,791 -41,791
plant and equipment
41,791 41,791 -41,791
period
2,16,163 1,74,372 1,32,581 3,62,776
Classes of property, plant and equipment [Axis] Other plant and equipment [Member]
amount [Axis]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
loss
-41,791
equipment
-41,791
plant and equipment
-41,791 0 0
period
4,04,567 4,46,358 5,78,939 5,78,939

68
amount [Axis]
Gross carrying
amount [Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
loss
41,791 41,791
equipment
41,791 41,791
plant and equipment
41,791 41,791
period
5,78,939 2,16,163 1,74,372 1,32,581
amount [Axis]
Gross carrying
amount [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
loss
-41,791 -41,791
equipment
-41,791 -41,791
plant and equipment
-41,791 -41,791 0
period
3,62,776 4,04,567 4,46,358 5,78,939

69
amount [Axis]
impairment [Member]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
loss
41,791 41,791
equipment
41,791 41,791
plant and equipment
0 41,791 41,791
period
5,78,939 5,78,939 2,16,163 1,74,372
Classes of property, plant and equipment [Axis]
Other plant and
equipment
[Member]
Furniture and fixtures [Member]
Owned assets
[Member]
Owned and leased assets [Member]
amount [Axis]
Accumulated
depreciation and
impairment
[Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
loss
-1,06,511 -1,06,511
equipment
-1,06,511 -1,06,511
plant and equipment
-1,06,511 -1,06,511
period
1,32,581 4,63,747 5,70,258 6,76,769

70
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
amount [Axis]
Accumulated
depreciation and
impairment
[Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
loss
1,06,511
equipment
1,06,511
plant and equipment
0 0 1,06,511
period
9,82,876 9,82,876 9,82,876 5,19,129
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
amount [Axis]
impairment [Member]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
loss
1,06,511 -1,06,511 -1,06,511
equipment
1,06,511 -1,06,511 -1,06,511
plant and equipment
1,06,511 -1,06,511 -1,06,511
period
4,12,618 3,06,107 4,63,747 5,70,258

71
amount [Axis]
Carrying amount
[Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
plant and equipment
0 0
period
6,76,769 9,82,876 9,82,876 9,82,876
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member] Vehicles [Member]
Owned and leased
assets [Member]
amount [Axis]
Carrying amount
[Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
loss
1,06,511 1,06,511 -38,157
equipment
1,06,511 1,06,511 -38,157
plant and equipment
1,06,511 1,06,511 -38,157
period
5,19,129 4,12,618 3,06,107 48,827

72
Classes of property, plant and equipment [Axis] Vehicles [Member]
amount [Axis]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
loss
-1,22,168
equipment
-1,22,168
plant and equipment
-1,22,168 0 0
period
86,984 2,09,152 6,97,824 6,97,824
amount [Axis]
Gross carrying
amount [Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
loss
38,157 1,22,168
equipment
38,157 1,22,168
plant and equipment
38,157 1,22,168
period
6,97,824 6,48,997 6,10,840 4,88,672

73
amount [Axis]
Accumulated
depreciation and
impairment
[Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
loss
38,157
equipment
38,157
plant and equipment
0 0 38,157
period
6,97,824 6,97,824 6,97,824 6,48,997
Classes of property, plant and equipment [Axis] Vehicles [Member] Motor vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
amount [Axis]
impairment [Member]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
loss
1,22,168 -38,157 -1,22,168
equipment
1,22,168 -38,157 -1,22,168
plant and equipment
1,22,168 -38,157 -1,22,168
period
6,10,840 4,88,672 48,827 86,984

74
Classes of property, plant and equipment [Axis] Motor vehicles [Member]
amount [Axis]
Carrying amount
[Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
plant and equipment
0 0
period
2,09,152 6,97,824 6,97,824 6,97,824
Owned assets
[Member]
amount [Axis]
Carrying amount
[Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
loss
38,157 1,22,168 -38,157
equipment
38,157 1,22,168 -38,157
plant and equipment
38,157 1,22,168 -38,157
period
6,48,997 6,10,840 4,88,672 48,827

75
amount [Axis]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
loss
-1,22,168
equipment
-1,22,168
plant and equipment
-1,22,168 0 0
period
86,984 2,09,152 6,97,824 6,97,824
amount [Axis]
Gross carrying
amount [Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
loss
38,157 1,22,168
equipment
38,157 1,22,168
plant and equipment
38,157 1,22,168
period
6,97,824 6,48,997 6,10,840 4,88,672

76
Classes of property, plant and equipment [Axis] Office equipment [Member]
amount [Axis]
Gross carrying
amount [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
equipment
2,56,695 2,56,695
loss
-36,276 -43,499
equipment
-36,276 -43,499
plant and equipment
2,20,419 -43,499 2,56,695
period
2,56,571 36,152 79,651 12,47,900
amount [Axis]
impairment [Member]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
loss
36,276 43,499
equipment
36,276 43,499
plant and equipment
0 36,276 43,499
period
9,91,205 9,91,205 9,91,329 9,55,053

77
Owned and leased
assets [Member]
Owned assets [Member]
amount [Axis]
Accumulated
depreciation and
impairment
[Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
equipment
2,56,695
loss
-36,276 -43,499
equipment
-36,276 -43,499
plant and equipment
2,20,419 -43,499
period
9,11,554 2,56,571 36,152 79,651
amount [Axis]
Accumulated
depreciation and
impairment
[Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
equipment
2,56,695
loss
36,276
equipment
36,276
plant and equipment
2,56,695 0 36,276
period
12,47,900 9,91,205 9,91,205 9,91,329

78
Classes of property, plant and equipment [Axis] Office equipment [Member] Computer equipments [Member]
amount [Axis]
impairment [Member]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
equipment
11,57,713 3,96,215
loss
43,499 -4,63,055 -4,79,872
equipment
43,499 -4,63,055 -4,79,872
equipment
-1
-1
plant and equipment
43,499 6,94,659 -83,657
period
9,55,053 9,11,554 13,06,045 6,11,386
Classes of property, plant and equipment [Axis] Computer equipments [Member]
amount [Axis]
Carrying amount
[Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
equipment
11,57,713 3,96,215
plant and equipment
11,57,713 3,96,215
period
6,95,043 35,86,340 24,28,627 20,32,412

79
Owned assets
[Member]
amount [Axis]
Carrying amount
[Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
[Abstract]
equipment
11,57,713
loss
4,63,055 4,79,872 -4,63,055
equipment
4,63,055 4,79,872 -4,63,055
equipment
1 -1
1 -1
plant and equipment
4,63,054 4,79,872 6,94,659
period
22,80,295 18,17,241 13,37,369 13,06,045
amount [Axis]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
equipment
3,96,215 11,57,713 3,96,215
loss
-4,79,872
equipment
-4,79,872
plant and equipment
-83,657 11,57,713 3,96,215
period
6,11,386 6,95,043 35,86,340 24,28,627

80
amount [Axis]
Gross carrying
amount [Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
[Abstract]
loss
4,63,055 4,79,872
equipment
4,63,055 4,79,872
equipment
1
1
plant and equipment
4,63,054 4,79,872
period
20,32,412 22,80,295 18,17,241 13,37,369
Disclosure of additional information about property plant and equipment [Table] ..(1)
Classes of property, plant and equipment [Axis] Plant and equipment [Member] Other plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned and leased assets [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of additional information about
property plant and equipment [Abstract]
property plant and equipment [Line items]
Depreciation method, property, plant and
equipment
Refer to child
member
Refer to child
member
Refer to child
member
Refer to child
member
Useful lives or depreciation rates, property,
plant and equipment
Refer to child
member
Refer to child
member
Refer to child
member
Refer to child
member
Whether property, plant and equipment are
stated at revalued amount
No No No No
Classes of property, plant and equipment [Axis] Other plant and equipment [Member] Furniture and fixtures [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
equipment
SLM SLM
Refer to child
member
Refer to child
member
plant and equipment
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
No No No No

81
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member] Vehicles [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
equipment
SLM SLM
Refer to child
member
Refer to child
member
plant and equipment
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
No No No No
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
equipment
Refer to child
member
Refer to child
member
SLM SLM
plant and equipment
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
No No No No
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
equipment
Refer to child
member
Refer to child
member
SLM SLM
plant and equipment
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
No No No No
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
equipment
Refer to child
member
Refer to child
member
SLM SLM
plant and equipment
Refer to child
member
Refer to child
member
A S P E R
SCHEDULE-II
A S P E R
SCHEDULE-II
No No No No

82
01/04/2020
to
31/03/2021
Disclosure of property, plant and equipment [TextBlock]
[See below]
Disclosure of detailed information about property, plant and equipment
[TextBlock]
Disclosure of property, plant and equipment [Text Block]
Property, plant and equipment (PPE)
Tangible fixed assets
Fixed assets are stated at cost, less accumulated depreciation and impairment losses, if any. The cost of fixed assets comprises
its purchase price net of any trade discounts and rebates, any import duties and other taxes (other than those subsequently
recoverable from the tax authorities), any directly attributable expenditure on making the asset ready for its intended use and
other incidental expenses. Subsequent expenditure on fixed assets after its purchase is capitalised only if such expenditure
results in an increase in the future benefits from such asset beyond its previously assessed standard of performance.
Depreciation and amortisation methods and periods
i) Depreciable amount for assets is the cost of an asset less its estimated residual value. Depreciation on tangible fixed assets
has been provided on the straight-line method as per the useful life prescribed in Schedule II to the Companies Act, 2013. In
respect of fixed assets purchased or put to use during the period, depreciation is provided on a pro-rata basis from the date on
which such asset is purchased or put to use.
Intangible Assets i.e. Software are stated at cost and are amortised equally over a period of three years from the year of
purchase.
ii) Depreciation on Leasehold improvements is provided per estimated useful life amortised over the balance of the lease
period.
iii) Depreciation on asset acquired / disposed off during the period is provided on pro-rata basis with reference to the date of
addition/disposal.

83
[612100] Notes - Impairment of assets
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of impairment of assets [TextBlock]
Disclosure of impairment loss and reversal of impairment loss [TextBlock]
Whether there is any impairment loss or reversal of impairment loss
during the year
No No
Disclosure of information for impairment loss recognised or reversed
for individual Assets or cash-generating unit [TextBlock]
Whether impairment loss recognised or reversed for individual Assets
or cash-generating unit
No No
[400700] Notes - Investment property
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of investment property [TextBlock]
Depreciation method, investment property, cost model AS BELOW AS BELOW
Useful lives or depreciation rates, investment property, cost model NA NA
[400900] Notes - Other intangible assets
Disclosure of detailed information about other intangible assets [Table] ..(1)
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Sub classes of other intangible assets [Axis]
Internally generated and other than internally generated intangible assets
[Member]
Carrying amount accumulated amortization and impairment and
gross carrying amount [Axis]
31/03/2021 31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of detailed information about other
intangible assets [Abstract]
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
intangible assets
0 0
Other intangible assets at end of period 0 0 5,06,804 5,06,804

84
Classes of other intangible assets [Axis] Company other intangible assets [Member]
[Member]
Gross carrying
amount [Member]
Accumulated amortization and impairment [Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
assets [Abstract]
Amortisation other intangible assets 0 248
intangible assets
0 248
Other intangible assets at end of period 5,06,804 5,06,804 5,06,804 5,06,556
Classes of other intangible assets [Axis] Computer software [Member]
[Member]
Gross carrying
amount [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
assets [Abstract]
Amortisation other intangible assets 0 -248
intangible assets
0 -248 0
Other intangible assets at end of period 0 0 248 5,06,804
[Member]
Accumulated amortization and
impairment [Member]
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
assets [Abstract]
Amortisation other intangible assets 0 248
intangible assets
0 0 248

85
Internally
generated and
other than
internally
generated
intangible assets
[Member]
Intangible assets other than internally generated [Member]
Accumulated
amortization and
impairment
[Member]
31/03/2019
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
assets [Abstract]
Amortisation other intangible assets 0 -248
intangible assets
0 -248
Other intangible assets at end of period 5,06,556 0 0 248
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Accumulated
amortization and
impairment
[Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
assets [Abstract]
Amortisation other intangible assets 0
intangible assets
0 0 0
Intangible assets other than internally
generated [Member]
Carrying amount accumulated amortization and impairment and gross carrying amount [Axis]
Accumulated amortization and
impairment [Member]
01/04/2019
to
31/03/2020
31/03/2019
Disclosure of detailed information about other intangible assets [Abstract]
Disclosure of detailed information about other intangible assets [Line items]
Reconciliation of changes in other intangible assets [Abstract]
Amortisation other intangible assets 248
Total increase (decrease) in Other intangible assets 248
Other intangible assets at end of period 5,06,804 5,06,556

86
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of other intangible assets [TextBlock]
Disclosure of detailed information about other intangible assets
[TextBlock]
Disclosure of intangible assets with indefinite useful life [TextBlock]
Whether there are intangible assets with indefinite useful life No No
[401000] Notes - Biological assets other than bearer plants
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of biological assets, agriculture produce at point of
harvest and government grants related to biological assets
[TextBlock]
Depreciation method, biological assets other than bearer plants, at cost NA NA
Useful lives or depreciation rates, biological assets other than bearer
plants, at cost
NA NA
[611100] Notes - Financial instruments
Disclosure of financial liabilities [Table] ..(1)
Classes of financial liabilities [Axis] Financial liabilities at amortised cost, class [Member]
Categories of financial liabilities [Axis] Financial liabilities, category [Member]
Financial liabilities at amortised cost,
category [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 78,08,39,397 255,40,93,671 78,08,39,397 255,40,93,671
Financial liabilities, at fair value 78,08,39,397 255,40,93,671 78,08,39,397 255,40,93,671
Disclosure of financial assets [Table] ..(1)
Classes of financial assets [Axis]
Financial assets at amortised cost, class
[Member]
Other financial assets at amortised cost
class [Member]
Categories of financial assets [Axis] Financial assets, category [Member] Financial assets, category [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 624,42,13,414 685,59,81,330 624,42,13,414 685,59,81,330
Financial assets, at fair value 624,42,13,414 685,59,81,330 624,42,13,414 685,59,81,330
Description of other financial assets at
amortised cost class
Refer to child
member
Refer to child
member
Refer to child
member
Refer to child
member
Description of other financial assets at fair
value class
Refer to child
member
Refer to child
member
Refer to child
member
Refer to child
member

87
Disclosure of financial assets [Table] ..(2)
Classes of financial assets [Axis] Other financial assets at amortised cost class 1 [Member]
Categories of financial assets [Axis] Financial assets, category [Member]
Financial assets at amortised cost,
category [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of financial assets [Line items]
Financial assets 624,42,13,414 685,59,81,330 624,42,13,414 685,59,81,330
Financial assets, at fair value 624,42,13,414 685,59,81,330 624,42,13,414 685,59,81,330
Description of other financial assets at
amortised cost class
Refer to child
member
Refer to child
member
financial assets financial assets
Description of other financial assets at fair
value class
Refer to child
member
Refer to child
member
financial assets financial assets
01/04/2020
to
31/03/2021
Disclosure of financial instruments [TextBlock]
[See below]
Disclosure of financial assets [TextBlock]
Disclosure of financial liabilities [TextBlock]
Disclosure of financial liabilities [Abstract]
Disclosure of credit risk [TextBlock]
[See below]
Disclosure of reconciliation of changes in loss allowance and
explanation of changes in gross carrying amount for financial
instruments [TextBlock]
Disclosure of reconciliation of changes in loss allowance
and explanation of changes in gross carrying amount for
financial instruments [Abstract]
Disclosure of credit risk exposure [TextBlock]
Disclosure of credit risk exposure [Abstract]
Disclosure of provision matrix [TextBlock]
Disclosure of provision matrix [Abstract]
Disclosure of financial instruments by type of interest rate [TextBlock]
Disclosure of financial instruments by type of interest rate [Abstract]

88
Disclosure of financial instruments [Text Block]
Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.
Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and
financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial
assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the
acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately
in profit or loss.
An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all
of its liabilities. Equity instruments issued by a Company entity are recognised at the proceeds received, net of
direct issue costs.
(A) Financial assets
All financial assets, except investment in subsidiaries are recognised initially at fair value.
The measurement of financial assets depends on their classification, as described below:
1) At amortised cost
A financial asset is measured at the amortised cost if both the following conditions are met :
(a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash
flows, and
(b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal
and interest (SPPI) on the principal amount outstanding.
This category is the most relevant to the Company. After initial measurement, such financial assets are
subsequently measured at amortised cost using the effective interest rate (EIR) method. Amortised cost is
calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral
part of the EIR. The EIR amortisation is included in finance income in the profit or loss. The losses arising from
impairment are recognised in the profit or loss. This category generally applies to trade and other receivables.
2) At Fair Value through Other Comprehensive Income (FVTOCI)
A financial asset is classified as at the FVTOCI if both of the following criteria are met:
(a) The objective of the business model is achieved both by collecting contractual cash flows and selling the
financial assets, and
(b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal
and interest (SPPI) on the principal amount outstanding.
Debt instruments included within the FVTOCI category are measured initially as well as at each reporting date at
fair value. Fair value movements are recognised in the other comprehensive income (OCI) and on derecognition ,

89
cumulative gain or loss previously recognised in OCI is reclassified to statement of profit and loss. For equity
instruments, the Company may make an irrevocable election to present subsequent changes in the fair value in

90
OCI. If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the
instrument, excluding dividends, are recognised in the OCI. There is no recycling of the amounts from OCI to
statement of profit and loss, even on sale of investment.
3) At Fair Value through Profit & Loss (FVTPL)
FVTPL is a residual category for debt instruments and default category for equity instruments. Financial assets
included within the FVTPL category are measured at fair value with all changes recognised in the statement of
profit and loss.
In addition, the Company may elect to designate a debt instrument, which otherwise meets amortised cost or
FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a
measurement or recognition inconsistency (referred to as ‘accounting mismatch’). The Company has not
designated any debt instrument as at FVTPL.
Derecognition
On derecognition of a financial asset, the difference between the asset’s carrying amount and the sum of the
consideration received and receivable and the cumulative gain or loss that had been recognised in other
comprehensive income and accumulated in equity is recognised in profit or loss if such gain or loss would have
otherwise been recognised in profit or loss on disposal of that financial asset.
Impairment of financial assets
The Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on
the financial assets and credit risk exposure. The Company follows 'Simplified Approach’ for recognition of
impairment loss allowance on all trade receivables or contractual receivables.
Under the simplified approach the Company does not track changes in credit risk, but it recognises impairment
loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition. If credit risk has
not increased significantly, 12 month ECL is used to provide for impairment loss. However, if credit risk has
increased significantly, lifetime ECL is used.
ECL is the difference between all contracted cash flows that are due to the Company in accordance with the
contract and all the cash flows that the Company expects to receive, discounted at the original EIR. ECL
impairment loss allowance (or reversal) recognised during the period is recognised as income / (expense) in the
statement of profit and loss.
(B) Financial liabilities
Financial liabilities are classified, at initial recognition as at amortised cost or fair value through profit or loss.
The measurement of financial liabilities depends on their classification, as described below:
At amortised cost
This is the category most relevant to the Company. After initial recognition, financial liabilities are subsequently
measured at amortised cost using the EIR method. Gains and losses are recognised in profit or loss when the
liabilities are derecognised as well as through the EIR amortisation process. Amortised cost is calculated by
taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR.
The EIR amortisation is included as finance costs in the statement of profit and loss.

91
At fair value through profit or loss (FVTPL)
Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial
liabilities designated upon initial recognition as such. Subsequently, any changes in fair value are recognised in
the statement of profit or loss.
Derecognition of Financial Liability
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
The difference in the respective carrying amounts is recognised in the statement of profit or loss.

92
Disclosure of credit risk [Text Block]
Financial Risk objective and policies
The Company's principal financial liabilities comprise
borrowings, trade and other payables, The main purpose of
these financial liabilities is to finance the Company's
operations/projects .The Company's principal financial
assets include loans, trade and other receivables, and cash
and cash equivalents that derive directly from its operations.
In the ordinary course of business, the Company is mainly
exposed to risks resulting from exchange rate fluctuation
(currency risk), interest rate movements (interest rate risk)
collectively referred as Market Risk, Credit Risk, Liquidity
Risk and other price risks such as equity price risk. The
Company's senior management oversees the management of
these risks. It manages its exposure to these risks through
derivative financial instruments by hedging transactions. It
uses derivative instruments such as Principal only Swaps,
Interest rate swaps, foreign currency future options and
foreign currency forward contract to manage these risks.
These derivative instruments reduce the impact of both
favourable and unfavourable fluctuations.
The Company’s risk management activities are subject to
the management, direction and control of Central Treasury
Team of the Group under the framework of Risk
Management Policy for Currency and Interest rate risk as
approved by the Board of Directors of the Company. The
Group’s central treasury team ensures appropriate financial
risk governance framework for the Company through
appropriate policies and procedures and that financial risks
are identified, measured and managed in accordance with
the Group’s policies and risk objectives. It is the Group's
policy that no trading in derivatives for speculative purposes
may be undertaken.
The decision of whether and when to execute derivative
financial instruments along with its tenure can vary from
period to period depending on market conditions and the
relative costs of the instruments. The tenure is linked to the
timing of the underlying exposure, with the connection
between the two being regularly monitored. The Company
is exposed to losses in the event of non-performance by the
counterparties to the derivative contracts. All derivative
contracts are executed with counterparties that, in our
judgment, are creditworthy. The outstanding derivatives are
reviewed periodically to ensure that there is no inappropriate
concentration of outstanding to any particular counterparty.
Interest rate risk
The Company is exposed to changes in interest rates due to

93
its financing, investing and cash management activities. The
risks arising from interest rate movements arise from
borrowings with variable interest rates. The Company
manages its interest rate risk by having a balanced portfolio
of fixed and variable rate loans and borrowings.
The Company's risk management activities are subject to the
management, direction and control of Central Treasury
Team of the Adani Group under the framework of Risk
Management Policy for interest rate risk. The Group’s
central treasury team ensures appropriate financial risk
governance framework for the Company through
appropriate policies and procedures and that financial risks
are identified, measured and managed in accordance with
the Group’s policies and risk objectives.
For Company's total borrowings, the analysis is prepared
assuming the amount of the liability outstanding at the end
of the reporting period was outstanding for the whole year.
A 50 basis point increase or decrease is used, which
represents management's assessment of the reasonably
possible change in interest rate.
Particulars
As at
31st March,
2021
As at
31st March, 2020
Total Borrowings
569,393,520 1,692,080,654
In case of fluctuation in interest rates by 50 basis points and
all other variables were held constant, the Company's profit
for the year would increase or decrease as follows:
Particulars
For the year
ended
31st March, 2021
For the year ended
31st March, 2020
Impact on profit for the year
2,846,968 8,460,403
Credit risk
Credit risk refers to the risk that a counterparty will default
on its contractual obligations resulting in a loss to the
company. The Company has adopted the policy of only
dealing with creditworthy counterparties as a means of

94
mitigating the risk of financial losses from default, and
generally does not obtain any collateral or other security on
trade receivables.
The carrying amount of financial assets recorded in the
financial statements represents the Company’s maximum
exposure to credit risk. Cash are held with creditworthy
financial institutions.
Liquidity risk
The Company monitors its risk of shortage of funds using
cash flow forecasting models. These models consider the
maturity of its financial investments, committed funding and
projected cash flows from operations. The Company’s
objective is to provide financial resources to meet its
business objectives in a timely, cost effective and reliable
manner and to manage its capital structure. A balance
between continuity of funding and flexibility is maintained
through the use of various types of borrowings.
Maturity Profile of Financial Liabilities
The table below provides details regarding the remaining
contractual maturities of financial liabilities at the reporting
date based on contractual undiscounted payments.
Amount in Rs.
As at
31st March, 2021
Note
No.
Less than 1
year
1 to 5 year
More than 5
Years
Total
Non Current Borrowings 16
98,886,066 468,148,910 - 567,034,976
Current Borrowings 18
82,724,855 - - 82,724,855
Trade Payables 19
65,715,225 - - 65,715,225
Other Financial Liabilities 20
65,364,341 - - 65,364,341

95
As at
31st March, 2020
Note
No.
Less than 1
year
1 to 5 year
More than 5
Years
Total
Non Current Borrowings 16
1,162,865,744 1,676,421,655 - 1,676,421,655
Current Borrowings 18
538,002,665 - - 538,002,665
Trade Payables 19
185,320,387 - - 185,320,387
Other Financial Liabilities 20
154,348,965 - - 154,348,965
[611600] Notes - Non-current asset held for sale and discontinued operations
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of non-current assets held for sale and discontinued operations
[TextBlock]
Net cash flows from (used in) operating activities, continuing
operations
92,07,25,100 142,26,68,591
Net cash flows from (used in) operating activities 92,07,25,100 142,26,68,591
Net cash flows from (used in) investing activities, continuing
operations
90,29,49,238 135,29,46,393
Net cash flows from (used in) investing activities 90,29,49,238 135,29,46,393
Net cash flows from (used in) financing activities, continuing
operations
-178,80,70,858 -279,86,96,649
Net cash flows from (used in) financing activities -178,80,70,858 -279,86,96,649

96
[400100] Notes - Equity share capital
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Name of shareholder [Member] Shareholder 1 [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Type of share EQUITY SHARE
EQUITY
SHARE
equity shares equity shares
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
EQUITY
SHARE
equity shares equity shares
Name of shareholder
A D A N I
INFRASTRUCTURE AND
DEVELOPERS PRIVATE
LIMITED
Refer to
c h i l d
member
A D A N I
INFRASTRUCTURE
AND DEVELOPERS
PRIVATE LIMITED
A D A N I
INFRASTRUCTURE
AND DEVELOPERS
PRIVATE LIMITED
CIN of shareholder U45201GJ2006PTC066449 U45201GJ2006PTC066449
Country of incorporation or residence of
shareholder
INDIA INDIA
Number of shares held in company [shares] 1,00,00,000
[shares]
1,00,00,000
[shares] 75,00,000 [shares] 75,00,000
Percentage of shareholding in company 100.00% 100.00% 75.00% 75.00%
Disclosure of shareholding more than five per cent in company [Table] ..(2)
Name of shareholder [Axis] Shareholder 2 [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Type of share equity shares equity shares
Disclosure of shareholding more than five per cent in company [Abstract]
Disclosure of shareholding more than five per cent in company [LineItems]
Type of share equity shares equity shares
Name of shareholder
R E A L D E A L
DEVELOPERS PRIVATE
LIMITED
R E A L D E A L
DEVELOPERS PRIVATE
LIMITED
CIN of shareholder U45400MH2007PTC171102 U45400MH2007PTC171102
Country of incorporation or residence of shareholder INDIA INDIA
Number of shares held in company [shares] 25,00,000 [shares] 25,00,000
Percentage of shareholding in company 25.00% 25.00%

97
Disclosure of classes of equity share capital [Table] ..(1)
Classes of equity share capital [Axis] Equity shares [Member]
Equity shares 1
[Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line
items]
Number of shares authorised [shares] 1,00,00,000 [shares] 1,00,00,000 [shares] 1,00,00,000
Value of shares authorised 10,00,00,000 10,00,00,000 10,00,00,000
Number of shares issued [shares] 1,00,00,000 [shares] 1,00,00,000 [shares] 1,00,00,000
Value of shares issued 10,00,00,000 10,00,00,000 10,00,00,000
Number of shares subscribed and fully paid [shares] 1,00,00,000 [shares] 1,00,00,000 [shares] 1,00,00,000
Value of shares subscribed and fully paid 10,00,00,000 10,00,00,000 10,00,00,000
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
Total number of shares subscribed [shares] 1,00,00,000 [shares] 1,00,00,000 [shares] 1,00,00,000
Total value of shares subscribed 10,00,00,000 10,00,00,000 10,00,00,000
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 1,00,00,000 [shares] 1,00,00,000 [shares] 1,00,00,000
Value of shares called 10,00,00,000 10,00,00,000 10,00,00,000
Value of shares paid-up 10,00,00,000 10,00,00,000 10,00,00,000
Par value per share [INR/shares] 10
Amount per share called in case shares not fully
called
[INR/shares] 0
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Total increase (decrease) in number of
shares outstanding
[shares] 0 [shares] 0 [shares] 0
Number of shares outstanding at end of period [shares] 1,00,00,000 [shares] 1,00,00,000 [shares] 1,00,00,000 [shares] 1,00,00,000
Reconciliation of value of shares outstanding
[Abstract]
Changes in equity share capital [Abstract]
Total increase (decrease) in share capital 0 0 0
Equity share capital at end of period 10,00,00,000 10,00,00,000 10,00,00,000 10,00,00,000
Rights preferences and restrictions attaching
to class of share capital
Textual information
(44) [See below]
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 75,00,000 [shares] 75,00,000
(A) [shares]
75,00,000
Total shares in company held by holding company
or ultimate holding company or by its
subsidiaries or associates
[shares] 75,00,000 [shares] 75,00,000 [shares] 75,00,000
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Total application money received for
allotment of securities and due for refund
and interest accrued thereon
0 0 0
(A) Adani Infrastructure and Developers Private Limited (holding company) and its nominees

98
Disclosure of classes of equity share capital [Table] ..(2)
01/04/2019
to
31/03/2020
31/03/2019
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line items]
Number of shares authorised [shares] 1,00,00,000
Value of shares authorised 10,00,00,000
Number of shares issued [shares] 1,00,00,000
Value of shares issued 10,00,00,000
Number of shares subscribed and fully paid [shares] 1,00,00,000
Value of shares subscribed and fully paid 10,00,00,000
Number of shares subscribed but not fully paid [shares] 0
Value of shares subscribed but not fully paid 0
Total number of shares subscribed [shares] 1,00,00,000
Total value of shares subscribed 10,00,00,000
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 1,00,00,000
Value of shares called 10,00,00,000
Value of shares paid-up 10,00,00,000
Par value per share [INR/shares] 10
Amount per share called in case shares not fully called [INR/shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Total increase (decrease) in number of shares outstanding [shares] 0
Number of shares outstanding at end of period [shares] 1,00,00,000
[shares]
1,00,00,000
Reconciliation of value of shares outstanding [Abstract]
Changes in equity share capital [Abstract]
Total increase (decrease) in share capital 0
Equity share capital at end of period 10,00,00,000 10,00,00,000
Rights preferences and restrictions attaching to class of share capital
[See below]
Shares in company held by holding company or ultimate holding company or by its
subsidiaries or associates [Abstract]
Shares in company held by holding company [shares] 75,00,000
Total shares in company held by holding company or ultimate holding company
or by its subsidiaries or associates
[shares] 75,00,000
Details of application money received for allotment of securities and due for
refund and interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund and
interest accrued thereon [Abstract]
Total application money received for allotment of securities and due for
refund and interest accrued thereon
0
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of notes on equity share capital explanatory [TextBlock]
Whether there are any shareholders holding more than five per cent
shares in company
Yes Yes
Whether money raised from public offering during year No No
The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity share is eligible for one vote
per share. The dividend, if any proposed by the Board of Directors is subject to the approval of the shareholders in the ensuring Annual
General Meeting. In the event of liquidation of the Company, the equity shareholders will be entitled to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion to their shareholding.

99
The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity share is eligible for one vote
per share. The dividend, if any proposed by the Board of Directors is subject to the approval of the shareholders in the ensuring Annual
General Meeting. In the event of liquidation of the Company, the equity shareholders will be entitled to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion to their shareholding.
[400300] Notes - Borrowings
Classification of borrowings [Table] ..(1)
Classification based on current non-current [Axis] Non-current [Member]
Classification of borrowings [Axis] Borrowings [Member]
Subclassification of borrowings [Axis]
Secured/Unsecured borrowings
[Member]
Secured borrowings [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 46,81,48,910 51,35,55,911 46,81,48,910 51,35,55,911
Classification of borrowings [Axis] Term loans [Member] Term loans from banks [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 46,81,48,910 51,35,55,911 46,81,48,910 51,35,55,911
Classification based on current non-current [Axis] Non-current [Member] Current [Member]
Classification of borrowings [Axis]
Rupee term loans from banks
[Member]
Borrowings [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member]
Secured/Unsecured borrowings
[Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings (A) 46,81,48,910 51,35,55,911 8,27,24,855 53,80,02,665
Footnotes
(A) 1) HDFC Discounting of Lease Rental Leasing- The Company has obtained the facility of discounting of Lease Rentals from
Housing Development Corporation Limited. The above facility are secured by- 1) Extension of project land and construction, present
and future, at village Ambivali, Versova, Andheri bearing CTS NO. 866/B/1 admeasuring 7,547.51 Sq. Mtrs together with
development potential which shall be comprising of 30,551.38 Sq. Mtrs. of HDIL FSI and 34,290 Sq. Mtrs HDIL additional
FSI.(Total 64,841.38 Sq. Mtrs). 2) Extension of charge on scheduled receivables and insurance proceeds, both present and future. 3)
Hypothecation of all rentals arising out of commercial area admeasuring 53,138 Sq. Ft. leasable area located at unit no. 1 to 4 on 1st
floor, unit no. 8 to 21 and conference room no. 1 & 2 on 2nd Floor in the building Inspire Hub of project Western Heights. The rate
of interest will be linked to HDFC Corporate Prime Lending Rate (HDFC CPLR). The loan will be repayable in 48 Structured
Quarterly Instalment at end of month from when rentals begins i.e., April 2019. 2) Standard Chartered Bank- The Company has
obtained the Term Loan facility from Standard Chartered Bank. The above facility is secured by- 1) First Charge over Land and
Building of the Project with a minimum security cover of 1.50x. 2) DSRA equivalent to 2 months interest based on outstanding term
loan. 3) First Charge over the receivables of the Project being deposited in designated Standard Chartered Bank's account, which will
be utilized only towards debt payment. The rate of interest will be MCLR plus margin (as agreed with Bank from time to time). The
tenor of Loan is maximum upto 30 months. This Loan is repaid during FY 2020-21.

100
Classification based on current non-current [Axis] Current [Member]
Classification of borrowings [Axis] Borrowings [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Unsecured borrowings [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 0 0 8,27,24,855 53,80,02,665
Classification of borrowings [Axis] Term loans [Member] Term loans from banks [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 0 0 0 0
Rupee term loans from banks
[Member]
Loans and advances from related
parties [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Unsecured borrowings [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings 0 0 8,27,24,855 53,80,02,665
Loans and advances from others
[Member]
Other loans and advances [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings (A) 8,27,24,855 53,80,02,665 0 0
Footnotes
(A) From Related Parties (Refer Note - 36)
Other loans and advances, others
[Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member]
31/03/2021 31/03/2020
Borrowings 0 0

101
[612700] Notes - Income taxes
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of income tax [TextBlock]
[See below]
Major components of tax expense (income) [Abstract]
Current tax expense (income) and adjustments for current tax of prior
periods [Abstract]
Current tax expense (income) 87,25,315 8,42,687
Total current tax expense (income) and adjustments for current tax
of prior periods
87,25,315 8,42,687
Total tax expense (income) 87,25,315 8,42,687
Reconciliation of accounting profit multiplied by applicable tax rates
[Abstract]
Accounting profit 3,92,12,714 -6,53,10,329
Tax expense (income) at applicable tax rate 98,69,056 -1,64,37,304
Tax effect of expense not deductible in determining taxable profit (tax
loss)
-2,32,864 1,72,79,991
Tax effect of tax losses -9,10,877 0
Total tax expense (income) 87,25,315 8,42,687
Reconciliation of average effective tax rate and applicable tax rate
[Abstract]
Accounting profit 3,92,12,714 -6,53,10,329

102
Disclosure of income tax [Text Block]
Taxes on Income
i) Current Tax
Provision for taxation has been made in accordance with the provisions of Income Tax
Act, 1961 prevailing for the relevant assessment year.
ii) Deferred Tax
Deferred tax is provided using the balance sheet approach on temporary differences
between the tax bases of assets and liabilities and their carrying amounts in the
financial statements at the reporting date.
Deferred tax assets are recognised for all deductible temporary differences, the carry
forward of unused tax credits and any unused tax losses. Deferred tax assets are
recognised to the extent that there is virtual certainty that taxable profit will be
available against which the deductible temporary differences, and the carry forward of
unused tax credits and unused tax losses can be utilized.
Net outstanding balance in Deferred Tax account is recognized as deferred tax
liability/asset. The deferred tax account is used solely for reversing timing difference
as and when crystallized.
Income Tax Expense
For the year ended
31st March, 2021
For the year
ended
31st March,
2020
( Amount in Rs. )
( Amount in
Rs. )
Current Tax:
Current Income Tax charge
8,725,315 842,688
8,725,315 842,688
The Income Tax Expense for the year can be reconciled to the accounting profit as
follows
For the year ended
31st March, 2021
For the year
ended
31st March,
2020
( Amount in Rs. )
( Amount in
Rs. )

103
Accounting Profit / (Loss) before tax
39,212,714 (65,310,329)
Income Tax using Company's Domestic Tax Rate @ 25.168% (FY 2019-20 :
25.168%) 9,869,056 (16,437,304)
Tax Effect of:
- Income / Expenses not allowable under Income Tax
(232,864) 17,279,991
-Brought Forward Tax Loss
910,876
Total Tax Expense for the year
8,725,315 842,688
[611000] Notes - Exploration for and evaluation of mineral resources
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of exploration and evaluation assets [TextBlock]
Whether there are any exploration and evaluation activities No No
[611900] Notes - Accounting for government grants and disclosure of government assistance
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of accounting for government grants and disclosure of government
assistance [TextBlock]
Whether company has received any government grant or government assistance No No

104
[401100] Notes - Subclassification and notes on liabilities and assets
Other current financial liabilities, others [Table] ..(1)
Other current financial liabilities, others [Axis] 1 2
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 20,92,983 49,27,797 5,05,31,178 8,28,75,199
Other current financial liabilities, others
[Abstract]
[Line items]
Description of other current financial
liabilities, others
Other Payables Other Payables
Security Deposit
from Customers
Security Deposit
from Customers
Other current financial liabilities,
others
20,92,983 49,27,797 5,05,31,178 8,28,75,199
Other current financial liabilities, others [Table] ..(2)
Other current financial liabilities, others [Axis] 3 4
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 0 5,19,37,060 1,27,40,180 1,46,08,909
[Abstract]
[Line items]
Description of other current financial
liabilities, others
Bank Overdraft Bank Overdraft
Interest accrued but
not due
Interest accrued but
not due
Other current financial liabilities,
others
0 5,19,37,060 1,27,40,180 1,46,08,909

105
Details of advances [Table] ..(1)
Classification of advances [Axis] Advances [Member]
Classification of assets based on security [Axis]
Classification of assets based on security
[Member]
Unsecured considered good [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 8,71,93,999 22,02,43,999 8,71,93,999 22,02,43,999
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
officers or others
0 0 0 0
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
director is partner
0 0 0 0
Advance due by private companies in
which any director is director
0 0 0 0
Advance due by private companies in
which any director is member
0 0 0 0
Total advance due by firms or
is partner or director
0 0 0 0
Details of advances [Table] ..(2)
Classification of advances [Axis] Capital advances [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member]
31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets [Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances (A) 8,71,93,999 (B) 22,02,43,999
Details of advance due by directors other officers or others [Abstract]
Advance due by directors 0 0
Advance due by other officers 0 0
Total advance due by directors other officers or others 0 0
Details of advance due by firms or companies in which any director is
partner or director [Abstract]
Advance due by firms in which any director is partner 0 0
Advance due by private companies in which any director is director 0 0
Advance due by private companies in which any director is member 0 0
Total advance due by firms or companies in which any director is partner
or director
0 0
Footnotes
(A) Advance for Land / Property
(B) Advance for Land / Property

106
Disclosure of breakup of provisions [Table] ..(1)
Classification based on current non-current [Axis] Non-current [Member] Current [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [Line items]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 1,26,43,091 82,38,603 16,93,000 4,73,439
Provision leave encashment 96,90,291 62,13,673 33,80,510 11,60,319
Total provisions for employee benefits 2,23,33,382 1,44,52,276 50,73,510 16,33,758
CSR expenditure provision 0 0 0 0
Total provisions 2,23,33,382 1,44,52,276 50,73,510 16,33,758
Other current assets others [Table] ..(1)
Other current assets others [Axis] 1 2
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
Other current assets notes [Abstract]
Other current assets [Abstract]
Other current assets, others 4,23,70,307 5,31,44,307 74,66,26,244 71,15,60,332
Other current assets others [Abstract]
Other current assets others [Line items]
Description of other current assets others
Balances with
Government
authorities
Balances with
Government
authorities
Unbilled Revenue Unbilled Revenue
Other current assets, others 4,23,70,307 5,31,44,307 74,66,26,244 71,15,60,332
Other current assets others [Table] ..(2)
Other current assets others [Axis] 3 4
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
Other current assets notes [Abstract]
Other current assets [Abstract]
Other current assets, others 2,30,45,493 58,53,690 0 6,41,022
Other current assets others [Abstract]
Other current assets others [Line items]
Description of other current assets others Lease Equalisation Lease Equalisation Prepaid Expense Prepaid Expense
Other current assets, others 2,30,45,493 58,53,690 0 6,41,022

107
Details of loans [Table] ..(1)
Classification of loans [Axis] Loans [Member]
[Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Loans notes [Abstract]
Disclosure of loans [Abstract]
Details of loans [Line items]
Loans , gross 614,46,28,756 673,10,73,290 614,46,28,756 673,10,73,290
Allowance for bad and doubtful loans 0 0 0 0
Total loans 614,46,28,756 673,10,73,290 614,46,28,756 673,10,73,290
Details of loans due by directors, other
Loans due by directors 0 0 0 0
Loans due by other officers 0 0 0 0
Total loans due by directors, other
officers or others
0 0 0 0
Details of loans due by firms or
Loans due by firms in which any director
is partner
0 0 0 0
Loans due by private companies in
0 0 0 0
0 0 0 0
Total loans due by firms or
0 0 0 0
Classification of loans [Axis] Loans to related parties [Member]
Loans given other related parties
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Loans , gross 390,30,46,081 494,16,66,676 (A) 390,30,46,081 494,16,66,676
Total loans 390,30,46,081 494,16,66,676 390,30,46,081 494,16,66,676
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
Footnotes
(A) Loans and advances to related parties

108
Classification of loans [Axis]
Loans given
employees
[Member]
Other loans [Member]
Other loans, others
[Member]
Unsecured
considered good
[Member]
Unsecured
considered good
[Member]
31/03/2021 31/03/2021 31/03/2020 31/03/2021
[Abstract]
Loans , gross (A) 2,62,500 224,13,20,175 178,94,06,614 (B) 224,13,20,175
Total loans 2,62,500 224,13,20,175 178,94,06,614 224,13,20,175
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
Footnotes
(A) Loans to Staff
(B) Loans & advances to others
Classification of loans [Axis]
Other loans, others
[Member]
Unsecured
considered good
[Member]
31/03/2020
Loans , gross 178,94,06,614
Allowance for bad and doubtful loans 0
Total loans 178,94,06,614
Details of loans due by directors, other officers or others [Abstract]
Loans due by directors 0
Loans due by other officers 0
Total loans due by directors, other officers or others 0
Details of loans due by firms or companies in which any director is partner or director
[Abstract]
Loans due by firms in which any director is partner 0
Loans due by private companies in which any director is director 0
Loans due by private companies in which any director is member 0
Total loans due by firms or companies in which any director is partner or director 0

109
Other non-current assets, others [Table] ..(1)
Other non-current assets, others [Axis] 1
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Other non-current assets notes [Abstract]
Other non-current assets [Abstract]
Other non-current assets, others 2,79,21,768 9,46,32,686
Other non-current assets, others [Abstract]
Other non-current assets, others [Line items]
Description of other non-current assets, others
Income Tax Assets
(Net)
Income Tax Assets
(Net)
Other non-current assets, others 2,79,21,768 9,46,32,686
Subclassification of trade receivables [Table] ..(1)
[Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
[Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line
items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 0 7,77,13,513 0 7,77,13,513
Allowance for bad and doubtful debts 0 0 0 0
Total trade receivables 0 7,77,13,513 0 7,77,13,513
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Total trade receivables due by
directors, other officers or others
0 0
Details of trade receivables due by firms
or companies in which any director is
partner or director [Abstract]
Trade receivables due by firms in
which any director is partner
0 0
Trade receivables due by private
companies in which any director is
director
0 0
Trade receivables due by private
companies in which any director is
member
0 0
Total trade receivables due by
firms or companies in which any
director is partner or director
0 0
Other current financial assets others [Table] ..(1)
Other current financial assets others [Axis] 1 2
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others 1,343 1,72,636 4,44,16,124 13,77,031
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Description other current financial assets
others
Interest Receivable
- - From Bank
Interest Receivable -
- From Bank
Interest Receivable
- - From Others
Interest Receivable -
- From Others
Other current financial assets others 1,343 1,72,636 4,44,16,124 13,77,031

110
Other current financial assets others [Axis] 3 4
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
Other current financial assets others 10,50,812 39,40,332 0 47,00,000
Other current financial assets others [Line
items]
Description other current financial assets
others
Deposit to Vendor,
Customer & Others
Deposit to Vendor,
Customer & Others
Other Receivables -
Non Trade
Other Receivables -
Non Trade
Other current financial assets others 10,50,812 39,40,332 0 47,00,000
Other current financial assets others [Axis] 5
01/04/2020
to
31/03/2021
Other current financial assets others 1,10,20,802
Other current financial assets others [Line items]
Description other current financial assets others
Reimbursement of
Expenses
recoverable (Refer
Note-36)
Other current financial assets others 1,10,20,802
Classification of inventories [Table] ..(1)
Classification of inventories [Axis] Company inventories [Member] Other inventories [Member]
31/03/2021 31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 13,49,72,196 104,10,12,260 13,49,72,196 104,10,12,260
Mode of valuation
Refer to child
member
Refer to child
member
Nature of other inventories
Refer to child
member
Refer to child
member
Classification of inventories [Table] ..(2)
Classification of inventories [Axis] Other inventories, others [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories (A) 13,49,72,196 (B) 104,10,12,260
Mode of valuation
(At lower of Cost
and Net Realisable
Value)
(At lower of Cost and
Net Realisable
Value)
Nature of other inventories AS PROVIDED AS PROVIDED

111
Footnotes
(A) Inventories - Construction-materials2,383,414 Inventories - Finished Goods - Properties132,588,782 Inventory held for Sale -
Properties0 Total134,972,196
(B) Inventories - Construction-materials1,01,53,961 Inventories - Finished Goods - Properties90,40,96,594 Inventory held for Sale -
Properties12,67,61,705 Total1,04,10,12,260
01/04/2020
to
31/03/2021
31/03/2020
Disclosure of subclassification and notes on liabilities and assets
explanatory [TextBlock]
Advances, non-current 8,71,93,999 22,02,43,999
Total other non-current assets (A) 11,51,15,767 (B) 31,48,76,685
Description of accounting policy for measuring inventories
[TextBlock]
[See below]
Disclosure of notes on cash and bank balances explanatory [TextBlock]
Fixed deposits with banks 0 0
Other balances with banks (C) 4,27,36,340 (D) 71,32,860
Total balance with banks 4,27,36,340 71,32,860
Cash on hand 0 0
Total cash and cash equivalents 4,27,36,340 71,32,860
Bank balance other than cash and cash equivalents 3,59,238 2,98,71,669
Total cash and bank balances 4,30,95,578 3,70,04,529
Total balances held with banks to extent held as
margin money or security against borrowings,
guarantees or other commitments
0 0
Bank deposits with more than 12 months maturity 0 0
Total other current financial assets 5,64,89,081 1,01,89,999
Advances, current 48,15,654 15,07,133
Total other current assets (E) 81,68,57,698 (F) 77,27,06,484
Current maturities of long-term debt 9,88,86,066 116,28,65,744
Interest accrued on borrowings 0 0
Interest accrued on public deposits 0 0
Interest accrued others 0 0
Unpaid dividends 0 0
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Debentures claimed but not paid 0 0
Public deposit payable, current 0 0
Total other current financial liabilities 16,42,50,407 131,72,14,709
Advance received from customers 9,79,08,227 4,41,20,080
Total other advance 9,79,08,227 4,41,20,080
Taxes payable other tax 51,84,074 29,43,665
Current liabilities portion of share application money pending
allotment
0 0
Total other payables, current 51,84,074 29,43,665
Total other current liabilities 10,30,92,301 4,70,63,745
Footnotes
(A) Other Non-current Assets : 87193999 Income Tax Assets (Net) : 27921768
(B) Other Non-current Assets : 220243999 Income Tax Assets (Net) : 94632686
(C) In current accounts : 42736340
(D) In current accounts : 7132860
(E) Other Current Assets : 816857698
(F) Other Current Assets : 772706484

112
Description of accounting policy for measuring inventories [Text Block]
Inventories
Costs of construction / development expenditure incurred on the Projects are accumulated under “Construction
Work-in-progress” and the same is valued at cost or net realizable value, whichever is lower.
Construction / development expenditure includes all direct and indirect expenditure incurred on development of land /
construction at site, overheads relating to site management and administration, allocated interest and expenses incidental to the
projects undertaken by the Company.
Net realisable value has been determined based on prevailing average sale price of the property sold during the year as reduced
by future estimated cost of completion to be incurred as determined by the management with the help of technical experts based
on percentage of completion. Such expenses are accumulated under head "Construction Work-In-Progress" till Building Use
permission is received. After Building Use (BU) permission subsequent expenses are being charged off to Profit & Loss
Account.
After receiving BU permission unsold inventories are being treated as Finished Goods and is valued at cost or net realisable
value whichever is lower.
Stores and Construction Materials are valued at lower of cost or net realisable value. cost includes cost of purchase and other
expenses incurred in bringing them to their respective present location and condition. Cost is determined using Weighted
Average Method of Inventory Valuation.

113
[401200] Notes - Additional disclosures on balance sheet
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of additional balance sheet notes explanatory [TextBlock]
[See below]
Description of estimates and critical accounting estimates explanatory
[TextBlock]
[See below]
Additional balance sheet notes [Abstract]
Contingent liabilities and commitments [Abstract]
Classification of contingent liabilities [Abstract]
Total contingent liabilities 0 0
Total contingent liabilities and commitments 0 0
Details regarding dividends [Abstract]
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
shareholders
Details of deposits [Abstract]
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Details of share application money received and paid [Abstract]
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year [pure] 0 [pure] 0
Number of person share application money received during year [pure] 0 [pure] 0
Number of person share application money paid as at end of year [pure] 0 [pure] 0
Number of person share application money received as at end of year [pure] 0 [pure] 0
Share application money received and due for refund 0 0
Details regarding cost records and cost audit[Abstract]
Details regarding cost records [Abstract]
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules,
2014
No No
Net worth of company 0 0
Details of unclaimed liabilities [Abstract]
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Financial parameters balance sheet items [Abstract]
Investment in subsidiary companies 0 0
Investment in government companies 0 0
Amount due for transfer to investor education and protection fund
(IEPF)
0 0
Gross value of transactions with related parties 0 0
Number of warrants converted into equity shares during period [pure] 0 [pure] 0
Number of warrants converted into preference shares during period [pure] 0 [pure] 0
Number of warrants converted into debentures during period [pure] 0 [pure] 0
Number of warrants issued during period (in foreign currency) [pure] 0 [pure] 0
Number of warrants issued during period (INR) [pure] 0 [pure] 0

114
Disclosure of additional balance sheet notes explanatory [Text Block]
Current versus non-current classification
The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is treated
as current when it is:
i) Expected to be realized or intended to be sold or consumed in normal operating cycle
ii) Held primarily for the purpose of trading
iii) Expected to be realized within thirty six months after the reporting period, or
iv) Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least thirty six months
after the reporting period
All other assets are classified as non-current.
A liability is current when:
i) It is expected to be settled in normal operating cycle
ii) It is held primarily for the purpose of trading
iii) It is due to be settled within thirty six months after the reporting period, or
iv) There is no unconditional right to defer the settlement of the liability for at least thirty six months after the reporting period
The Company classifies all other liabilities as non-current.
Deferred tax assets and liabilities are classified as non-current assets and liabilities respectively.
The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash
equivalents. The Company has identified thirty six months as its operating cycle.
Foreign Currency Transactions
The Company’s financial statements are presented in INR, which is also the parent company’s functional currency.
Transactions and balances
(i) Initial Recognition
Transactions denominated in foreign currencies are recorded at the exchange rates prevailing on the date of the transaction.

115
(ii) Conversion
At the year end, monitory items denominated in foreign currencies, if any, are converted into Indian Rupee equivalents at
exchange rate prevailing on the balance sheet date.
Though other Indian Accounting Standards also apply to the company by virtue of The Companies (Indian Accounting Standards), Rules,
2015 notified under section 133 of The Companies Act, 2013 (the Act) an other relevant provisions of the Act, no disclosure for the same is
being made as the company has not done any transaction to which the said Accounting Standards apply.
The Company is primarily engaged in the “Real Estate “business and all its operations are in India. Accordingly there are no separate
reportable segments as per Indian Accounting Standard 108 – “Operating Segment”.
Approval of Financial Statements
The financial statements were approved by the board of directors on 09th June, 2021.
Previous year figures have been regrouped and rearranged wherever necessary to conform to this year's classification.

116
Description of estimates and critical accounting estimates explanatory [Text Block]
Estimates, Judgments and assumptions
The preparation of the Company’s Ind AS Financial Statements requires management to make judgments, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures,
and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that
require a material adjustment to the carrying amount of assets or liabilities affected in future periods.
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year,
are described below. The Company based its assumptions and estimates on parameters available when the financial statements
were prepared. Existing circumstances and assumptions about future developments, however, may change due to market
changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions
when they occur.
i) Impairment of non-financial assets
Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the
higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on
available data for similar assets or observable market prices less incremental costs for disposing of the asset. The value in use
calculation is based on a DCF model. The cash flows are derived from the budget for the next five years and do not include
restructuring activities that The Company is not yet committed to or significant future investments that will enhance the asset’s
performance being tested. The recoverable amount is sensitive to the discount rate used for the DCF model as well as the
expected future cash-inflows and the growth rate used for extrapolation purposes. These estimates are most relevant to
goodwill and other intangibles with indefinite useful lives recognised by the Company.
ii) Taxes
Deferred tax assets are recognised for unused tax credits to the extent that there is virtual certainty that probable that taxable
profit will be available against which the credits can be utilised. Significant management judgment is required to determine the
amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits
together with future tax planning strategies.
iii) Defined benefit plans (gratuity benefits)
The cost of defined benefit gratuity plan and the present value of the gratuity obligation are determined using actuarial
valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future.
These includes the determination of discount rate, future salary increases and mortality rates. Due to complexities involved in
the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All
assumptions are reviewed at each reporting date.
iv) Fair value measurement of financial instruments
When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on
quoted prices in active markets, their fair value is measured using valuation techniques including the DCF model. The inputs to
these models are taken from observable markets where possible, but where this is not feasible, a degree of judgment is required
in establishing fair values. Judgments include considerations of inputs such as liquidity risk, credit risk and volatility. Changes
in assumptions about these factors could affect the reported fair value of financial instruments.

117
iv) Contract Price
Contract price is determined after taking into consideration, including but not limited to, about direct / indirect cost to be
incurred till completion of project, time value of money, estimate in increase in price. The company is required to made
judgments, estimates and assumptions that affect that may effect determination of contract price. Uncertainty about these
assumptions and estimates could result in outcomes that may require a material adjustment to the contract price in future
periods.
[611800] Notes - Revenue
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of revenue [TextBlock]
[See below]
AS PROVIDED

118
Disclosure of revenue [Text Block]
Revenue Recognition
Effective from 1st April, 2018, the company has adopted Ind AS 115 - Revenue from Contract with Customer ( hereinafter
referred as " Ind AS 115 ") with Modified retrospective approach of transition. As per Modified retrospective approach Ind AS
115 was made applicable to the contracts that were not completed as on 1st April, 2018.
Revenue from contracts with customers is recognised when control of the goods or services are transferred to the customer at
an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.
The company has generally concluded that it is the principal in its revenue arrangements, except for the agency services,
because it typically controls the goods or services before transferring them to the customer.
According to agreement entered into with customer, company recognises Revenue over a period of time as defined in Ind AS
115. For the purpose of recognition of revenue over period of time company continue to apply basis as defined in earlier
Revenue Recognition guidance.
In order to achieve reasonable level of assurance for revenue recognition company continue to apply following conditions:
(a) All critical approvals necessary for commencement of the project have been obtained.
(b) The expenditure incurred on construction and development costs is not less than 25 % of the estimated construction and
development costs excluding land cost.
(c) At least 25% of the saleable project area is secured by contracts or agreements with buyers.
(d) At least 10 % of the total revenue as per the agreements of sale or any other legally enforceable documents are realised at
the reporting date in respect of each of the contracts and it is reasonable to expect that the parties to such contracts will comply
with the payment terms as defined in the contracts.
Contract assets
A contract asset is the right to consideration in exchange for goods or services transferred to the customer e.g. unbilled
revenue. If the Company performs by transferring goods or services to a customer before the customer pays consideration or
before payment is due, a contract asset i.e. unbilled revenue is recognised for the earned consideration that is conditional.
Contract liabilities
A contract liability is the obligation to transfer goods or services to a customer for which the Company has received
consideration (or an amount of consideration is due) from the customer. Contract liabilities are recognised as revenue when the
Company performs under the contract.
Interest income is recognised on time proportion basis taking into account the amount outstanding and the rate applicable.
Rental Income is recognized on time proportionate basis over the period of the rent.

119
[612400] Notes - Service concession arrangements
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of service concession arrangements [TextBlock]
Whether there are any service concession arrangments No No
[612000] Notes - Construction contracts
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of notes on construction contracts [TextBlock]
Whether there are any construction contracts No No
[612600] Notes - Employee benefits
Disclosure of defined benefit plans [Table] ..(1)
Defined benefit plans [Axis]
Domestic defined benefit plans
[Member]
Defined benefit plans categories [Axis] 1
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [Line items]
Description of type of plan GRATUITY GRATUITY
Surplus (deficit) in plan [Abstract]
Defined benefit obligation, at present value 1,43,36,091 87,12,042
Net surplus (deficit) in plan -1,43,36,091 -87,12,042
Actuarial assumption of discount rates 6.70% 6.70%
Actuarial assumption of expected rates of salary increases 8.00% 8.00%

120
Disclosure of net defined benefit liability (assets) [Table] ..(1)
Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Net defined benefit liability (assets) [Axis] Net defined benefit liability (assets) [Member]
Present value of
defined benefit
obligation
[Member]
Defined benefit plans categories [Axis] 1 1
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
01/04/2020
to
31/03/2021
Disclosure of net defined benefit liability
(assets) [Abstract]
Disclosure of net defined benefit liability
(assets) [Line items]
Description of type of plan Refer to child member Refer to child member
THE GRATUITY
PLAN
Changes in net defined benefit liability
(assets) [Abstract]
Current service cost, net defined
benefit liability (assets)
32,08,541 19,42,586 32,08,541
Interest expense (income), net defined
8,65,629 4,78,748 8,65,629
Gain (loss) on remeasurement, net
defined benefit liability (assets)
[Abstract]
Return on plan assets, net defined
18,85,709 -48,273 18,85,709
Total loss (gain) on
remeasurement, net defined
18,85,709 -48,273 18,85,709
Payments from plan, net defined benefit
liability (assets)
7,81,349 0 7,81,349
Increase (decrease) through other
changes, net defined benefit
liability (assets)
42,16,937 -43,497 42,16,937
Total increase (decrease) in net
defined benefit liability (assets)
56,24,049 24,26,110 56,24,049
Net defined benefit liability (assets) at
end of period
1,43,36,091 87,12,042 62,85,932 1,43,36,091
Disclosure of net defined benefit liability (assets) [Table] ..(2)
Defined benefit plans [Axis]
Domestic defined benefit plans
[Member]
Net defined benefit liability (assets) [Axis]
Present value of defined benefit
obligation [Member]
Defined benefit plans categories [Axis] 1
01/04/2019
to
31/03/2020
31/03/2019
Disclosure of net defined benefit liability (assets) [Abstract]
Disclosure of net defined benefit liability (assets) [Line items]
Description of type of plan THE GRATUITY PLAN
Changes in net defined benefit liability (assets) [Abstract]
Current service cost, net defined benefit liability (assets) 19,42,586
Interest expense (income), net defined benefit liability (assets) 4,78,748
Gain (loss) on remeasurement, net defined benefit liability (assets)
[Abstract]
Return on plan assets, net defined benefit liability (assets) -48,273
Total loss (gain) on remeasurement, net defined benefit liability
(assets)
-48,273
Payments from plan, net defined benefit liability (assets) 0
Increase (decrease) through other changes, net defined benefit liability
(assets)
-43,497
Total increase (decrease) in net defined benefit liability (assets) 24,26,110
Net defined benefit liability (assets) at end of period 87,12,042 62,85,932

121
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of employee benefits [TextBlock]
[See below]
AS PROVIDED
Disclosure of defined benefit plans [TextBlock]
Whether there are any defined benefit plans Yes Yes
Disclosure of net defined benefit liability (assets) [TextBlock]

122
Disclosure of employee benefits [Text Block]
Retirement and other employee benefits
Employee benefits includes salary, wages, gratuity, compensated absences and contribution to provident fund.
Short Term Employees Benefits
A liability is recognised for benefits accruing to employees in respect of salaries and wages at the undiscounted amount of the
benefits expected to be paid wholly within twelve months of rendering the service.
Defined Contribution Plans
Retirement benefits in the form of provident fund is a defined contribution scheme. The Company has no obligation, other than
the contribution payable to the provident fund. The Company recognises contribution payable to the provident fund scheme as
an expense, when an employee renders the related service.
Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling (excluding net interest) and the return
on plan assets (excluding net interest), are recognised immediately in the balance sheet with a corresponding debit or credit to
retained earnings through OCI in the period in which they occur. Re-measurements are not reclassified to profit or loss in
subsequent periods.
The Group recognises the following changes in the net defined benefit obligation as an expense in the statement of profit and
loss in the line item "Employee Benefits Expense":
> Service cost including current service cost, past service cost, gains and losses on curtailments and non-routine settlements;
and
> Net interest expense or income
For the purpose of presentation of defined benefit plans, the allocation between short term and long term provisions has been
made as determined by an actuary.
As per Indian Accounting Standard 19 "Employee Benefits", the
disclosure as defined in the accounting standard are given below.
(a) Defined Benefit Plan
The Company operates a defined benefit plan (the Gratuity plan)
covering eligible employees, which provides a lump sum

123
payment to vested employees at retirement, death, incapacitation

124
or termination of employment, of an amount based on the
respective employee’s salary and the tenure of employment. The
status of gratuity plan as required under Ind AS 19:
As at
31st March,
2021
As at
31st March, 2020
( Amount in Rs. ) ( Amount in Rs. )
i. Reconciliation of Opening and Closing Balances of defined
benefit obligation
Present Value of Defined Benefit Obligations at the
beginning of the Year 8,712,042 6,285,932
Current Service Cost
3,208,541 1,942,586
Acquisition adjustment
4,216,937 (43,497)
Interest Cost
865,629 478,748
Benefits paid
(781,349) -
Net Actuarial loss / (gain) Recognised
(1,885,709) 48,273
Present Value of Defined Benefit Obligations at the end of
the Year 14,336,091 8,712,042
ii. Reconciliation of Opening and Closing Balances of the Fair
value of Plan assets
Fair Value of Plan assets at the beginning of the Year
- -
Expected return on plan assets
- -

125
Contributions
- -
Benefits paid
- -
Actuarial gain/(loss) on plan assets
- -
Fair Value of Plan assets at the end of the Year
- -
iii. Reconciliation of the Present value of defined benefit
obligation and Fair value of plan assets
Present Value of Defined Benefit Obligations at the end of
the Year 14,336,091 8,712,042
Fair Value of Plan assets at the end of the Year
- -
Net Asset / (Liability) recognized in balance sheet as at the
end of the year (14,336,091) (8,712,042)
v. Gratuity Cost for the Year
Current service cost
3,208,541 1,942,586
Interest cost
865,629 478,748
Expected return on plan assets
- -
Actuarial Gain / (Loss)
- -
Net Gratuity cost recognised in the statement of Profit and
Loss 4,074,170 2,421,334

126
vi. Actuarial Assumptions
Discount Rate (per annum) 6.70% 6.70%
Expected rate of return on plan assets - -
Annual Increase in Salary Cost 8.00% 8.00%
(b) Defined Contribution Plan
Contribution to Defined Contribution Plans, recognised in
Statement of Profit and Loss, for the year is as under :
For the year
ended
31st March, 2021
For the year ended
31st March, 2020
Employer's Contribution to Provident Fund
7,806,385 5,644,398
(c) Sensitivity Analysis
For the year
ended
31st March, 2021
For the year ended
31st March, 2020
Defined Benefit Obligation
14,336,091 8,712,042
For the

127
Particulars
year
ended
31st
March,
2021
For the year
ended
31st March, 2020
Decrease Increase Decrease Increase
Discount Rate (- / + 1%)
15,276,804 13,489,844 9,599,214 7,943,288
(% change compared to base due to sensitivity) 6.60% -5.90% 10.20% -8.80%
Salary Growth Rate (- / + 1%)
13,492,097 15,255,884 7,945,297 9,579,118
(% change compared to base due to sensitivity) -5.90% 6.40% -8.80% 10.00%
Attrition Rate (- / + 50% of attrition rates)
15,375,564 13,625,689 9,192,330 8,343,528
(% change compared to base due to sensitivity) 7.30% -5.00% 5.50% -4.20%
Mortality Rate (- / + 10% of mortality rates)
14,336,973 14,335,212 8,713,884 8,710,206
(% change compared to base due to sensitivity) 0.00% 0.00% 0.00% 0.00%
[612800] Notes - Borrowing costs
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of borrowing costs [TextBlock]
[See below]
Whether any borrowing costs has been capitalised during the year No No

128
Disclosure of borrowing costs [Text Block]
Borrowing Cost:
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that
necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until
such time as the assets are substantially ready for their intended use or sale. It includes interest on borrowings, amortisation of
ancillary costs incurred for borrowings and exchange differences arising from foreign currency borrowings to the extent they are
regarded as an adjustment to the interest cost.
[700100] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Key managerial personnels and directors [Axis] 1 2
01/04/2020
to
31/03/2021
01/04/2020
to
31/03/2021
Disclosure of key managerial personnels and directors and remuneration to key
managerial personnels and directors [Abstract]
Disclosure of key managerial personnels and directors and remuneration to key
managerial personnels and directors [LineItems]
Name of key managerial personnel or director MILAN JOSHI RAJESH JAIN
Director identification number of key managerial personnel or director 08970914 08970945
Permanent account number of key managerial personnel or director AEPPJ4831F AARPJ8273H
Date of birth of key managerial personnel or director 19/10/1976 24/11/1972
Designation of key managerial personnel or director Director Director
Qualification of key managerial personnel or director CA
Shares held by key managerial personnel or director [shares] 0 [shares] 0
Key managerial personnel or director remuneration [Abstract]
Gross salary to key managerial personnel or director [Abstract]
Salary key managerial personnel or director 0 0
Perquisites key managerial personnel or director 0 0
Profits in lieu of salary key managerial personnel or director 0 0
Gross salary to key managerial personnel or director 0 0
Sitting fees key managerial personnel or director 0 0
Stock option key managerial personnel or director 0 0
Sweat equity key managerial personnel or director 0 0
Commission as percentage of profit key managerial personnel or director 0 0
Other commission key managerial personnel or director 0 0
Other compensation key managerial personnel or director 0 0
Total key managerial personnel or director remuneration 0 0
[612200] Notes - Leases
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of leases [TextBlock]
Whether company has entered into any lease agreement No No
Whether any operating lease has been converted to financial lease or
vice-versa
No No

129
[612300] Notes - Transactions involving legal form of lease
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of arrangements involving legal form of lease [TextBlock]
Whether there are any arrangements involving legal form of lease No No
[612900] Notes - Insurance contracts
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of insurance contracts [TextBlock]
Whether there are any insurance contracts as per Ind AS 104 No No
[613100] Notes - Effects of changes in foreign exchange rates
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of effect of changes in foreign exchange rates [TextBlock]
Whether there is any change in functional currency during the year No No
Description of presentation currency INR

130
[500100] Notes - Subclassification and notes on income and expenses
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 0 0
Revenue from sale of services (A) 121,86,83,213 (B) 177,24,46,174
Total revenue from operations other than finance company 121,86,83,213 177,24,46,174
Total revenue from operations 121,86,83,213 177,24,46,174
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on fixed deposits, current investments 7,82,615 5,50,537
Interest on current intercorporate deposits 19,74,41,865 23,77,95,659
Interest on other current investments (C) 16,35,980 (D) 41,65,692
Total interest income on current investments 19,98,60,460 24,25,11,888
Total interest income 19,98,60,460 24,25,11,888
Dividend income [Abstract]
Total dividend income 0 0
Other non-operating income [Abstract]
Interest on income tax refund 80,54,793 0
Liabilities written off 3,28,50,837 3,55,261
Miscellaneous other non-operating income 1,140 0
Total other non-operating income 4,09,06,770 3,55,261
Total other income 24,07,67,230 24,28,67,149
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Other interest charges (E) 15,57,80,273 (F) 37,05,91,167
Total interest expense 15,57,80,273 37,05,91,167
Other borrowing costs (G) 1,38,20,308 (H) 24,71,657
Total finance costs 16,96,00,581 37,30,62,824
Employee benefit expense [Abstract]
Salaries and wages 17,36,93,715 15,32,25,777
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Total remuneration to directors 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 81,93,893 59,35,365
Total contribution to provident and other funds 81,93,893 59,35,365
Staff welfare expense 21,54,520 43,97,851
Total employee benefit expense 18,40,42,128 16,35,58,993
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 6,85,790 7,94,089
Total depreciation, depletion and amortisation expense 6,85,790 7,94,089
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 0 0
Power and fuel 0 0
Rent 25,24,170 37,90,297
Repairs to building 0 0
Repairs to machinery 1,000 0
Insurance 13,61,420 10,25,472
Rates and taxes excluding taxes on income [Abstract]
Other cess taxes 7,12,49,575 2,46,99,129
Total rates and taxes excluding taxes on income 7,12,49,575 2,46,99,129
Electricity expenses 1,82,560 58,12,081
Telephone postage 65,81,844 34,67,120
Travelling conveyance 5,55,374 53,37,397

131
Legal professional charges 2,53,13,908 4,55,02,596
Directors sitting fees 0 0
Advertising promotional expenses 1,02,50,674 3,86,95,975
Commission paid other selling agents 1,38,27,884 2,30,80,527
Loss on disposal of intangible Assets 0 0
Loss on disposal, discard, demolishment and destruction of
depreciable property plant and equipment
0 0
Payments to auditor [Abstract]
Payment for audit services 75,000 65,000
Payment for taxation matters 0 50,000
Payment for other services 0 25,000
Total payments to auditor 75,000 1,40,000
CSR expenditure 0 9,25,000
Miscellaneous expenses (I) 3,57,16,305 (J) 8,07,92,329
Total other expenses 16,76,39,714 23,32,67,923
Current tax [Abstract]
Current tax pertaining to previous years 82,50,720 8,42,688
Current tax pertaining to current year -8,42,688 35,86,315
Total current tax (K) 74,08,032 (L) 44,29,003
Footnotes
(A) Income From Sale of Properties : 1134296613 Income from PMC and Other Levies : 0 Income from Cancellation : 423729
Income from Ancillary Services - Real Estate : 10102128 Lease Rent Income : 73719041 Sale of Scrap : 141702
(B) Income From Sale of Properties : 1599489932 Income from PMC and Other Levies : 81254774 Income from Cancellation : 0
(C) - Customers : 1635980 - Others : 0
(D) - Customers : 4056388 - Others : 109304
(E) -Loans : 155733555 -Others : 46718
(F) -Loans : 370591167 -Others : 0
(G) Bank Charges & Other Borrowing Costs : 13820308
(H) Bank Charges & Other Borrowing Costs : 2471657
(I) Operational Expenses : 14737445 Office Expenses : 1627149 Manpower Services : 12672966 Bad Debts written off : 6441030
Miscellaneous Expenses : 36851 Fines and Penalties : 0 Rent-Others : 200864
(J) Operational Expenses : 44521063 Office Expenses : 2565244 Manpower Services : 30467060 Bad Debts written off : 0
Miscellaneous Expenses : 2163459 Fines and Penalties : 196951 Rent-Others : 878552
(K) Current Tax : 8250720 Adjustment of earlier years : -842688
(L) Current Tax : 842688 Adjustment of earlier years : 3586315
[613200] Notes - Cash flow statement
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
Disclosure of cash flow statement [TextBlock]
[See below]
Cash and cash equivalents cash flow statement 4,27,36,340 71,32,860 3,02,14,525
Cash and cash equivalents 4,27,36,340 71,32,860
Income taxes paid (refund), classified as operating activities -5,88,28,290 3,21,49,276
Total income taxes paid (refund) -5,88,28,290 3,21,49,276

132
Disclosure of cash flow statement [Text Block]
Cash Flow Statement
i) Cash & Cash Equivalents (for purpose of cash flow statement)
Cash comprises cash on hand and demand deposit with banks. Cash equivalents are
short-term balances (with an maturity of three months or less from the date of
acquisition), highly liquid investments that are readily convertible into known
amounts of cash and which are subject to insignificant risk of changes in value.
ii) Cash Flow Statement
Cash flows are reported using the indirect method, whereby profit / (loss) before
extraordinary items and tax is adjusted for the effects of transactions of non-cash
nature and any deferrals or accruals of past or future cash receipts or payments. The
cash flows from regular revenue generating, financing and investing activities of the
company are segregated.
Disclosure of changes in their liabilities arising from financing activities, including
both changes arising from cash flows and non-cash changes are included below
Changes in liabilities arising from financing activities
Particulars Borrowings
As on 1st
April,
2020
3,528,431,842
Taken
during the
year
1,408,553,351
Repaid
during the
year
(2,672,982,357)
As on
31st
March,
2020
2,264,002,836
As on 1st
April,

133
2020 2,264,002,836
Taken
during the
year
-
Repaid
during the
year
(1,614,243,005)
As on
31st
March,
2021
649,759,831
The Cash Flow Statement has been prepared under the indirect method as set out in
Ind As 7 on Cash Flow Statements notified under Section 133 of the Companies Act
2013, read together with paragraph 7 of The Companies (Indian Accounting
Standards) Rules, 2015 (as amended).
[500200] Notes - Additional information statement of profit and loss
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Additional information on profit and loss account explanatory [TextBlock]
Total changes in inventories of finished goods, work-in-progress and
stock-in-trade
0 0
Total revenue from sale of products 0 0
Domestic revenue services 121,86,83,213 177,24,46,174
Total revenue from sale of services (A) 121,86,83,213 (B) 177,24,46,174
Gross value of transaction with related parties 0 0
Bad debts of related parties 0 0
Footnotes
(A) Income From Sale of Properties : 1134296613 Income from PMC and Other Levies : 0 Income from Cancellation : 423729
(B) Income From Sale of Properties : 1599489932 Income from PMC and Other Levies : 81254774 Income from Cancellation : 0

134
[611200] Notes - Fair value measurement
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of fair value measurement [TextBlock]
[See below]
Disclosure of fair value measurement of assets [TextBlock]
Whether assets have been measured at fair value No No
Disclosure of fair value measurement of liabilities [TextBlock]
Whether liabilities have been measured at fair value No No
Disclosure of fair value measurement of equity [TextBlock]
Whether equity have been measured at fair value No No

135
Disclosure of fair value measurement [Text Block]
Fair value measurement
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date, regardless of whether that price is directly observable or estimated using another
valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account the characteristics of
the asset or liability at the measurement date. The fair value measurement is based on the presumption that the transaction to
sell the financial asset or settle the financial liability takes place either:
> In the principal market for the asset or liability, or
> In the absence of a principal market, in the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company.
A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its
highest and best use.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair
value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a
whole:
> Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities
> Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly
or indirectly observable
> Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable
For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether
transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is
significant to the fair value measurement as a whole) at the end of each reporting period.
The Company's management determines the policies and procedures for both recurring fair value measurement, such as
derivative instruments and unquoted financial assets measured at fair value.
At each reporting date, the Company analyses the movements in the values of assets and liabilities which are required to be
remeasured or re-assessed as per The Company’s accounting policies. For this analysis, the Management verifies the major
inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant
documents.
For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the
nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

136
[613300] Notes - Operating segments
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of entity's operating segments [TextBlock]
Disclosure of reportable segments [TextBlock]
Whether there are any reportable segments No No
Disclosure of major customers [TextBlock]
Whether there are any major customers No No
[610700] Notes - Business combinations
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of business combinations [TextBlock]
Whether there is any business combination No No
Disclosure of reconciliation of changes in goodwill [TextBlock]
Whether there is any goodwill arising out of business combination No No
Disclosure of acquired receivables [TextBlock]
Whether there are any acquired receivables from business combination No No
Disclosure of contingent liabilities in business combination [TextBlock]
Whether there are any contingent liabilities in business combination No No

137
[611500] Notes - Interests in other entities
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of interests in other entities [TextBlock]
Disclosure of interests in subsidiaries [TextBlock]
Disclosure of subsidiaries [TextBlock]
Whether company has subsidiary companies No No
Whether company has subsidiary companies which are yet to commence
operations
No No
Whether company has subsidiary companies liquidated or sold during
year
No No
Disclosure of interests in associates [TextBlock]
Disclosure of associates [TextBlock]
Whether company has invested in associates No No
Whether company has associates which are yet to commence operations No No
Whether company has associates liquidated or sold during year No No
Disclosure of interests in joint arrangements [TextBlock]
Disclosure of joint ventures [TextBlock]
Whether company has invested in joint ventures No No
Whether company has joint ventures which are yet to commence
operations
No No
Whether company has joint ventures liquidated or sold during year No No
Disclosure of interests in unconsolidated structured entities [TextBlock]
Disclosure of unconsolidated structured entities [TextBlock]
Whether there are unconsolidated structured entities No No
Disclosure of investment entities [TextBlock]
Disclosure of information about unconsolidated subsidiaries [TextBlock]
Whether there are unconsolidated subsidiaries No No
Disclosure of information about unconsolidated structured entities
controlled by investment entity [TextBlock]
Whether there are unconsolidated structured entities controlled by
investment entity
No No

138
[610800] Notes - Related party
Disclosure of transactions between related parties [Table] ..(1)
Categories of related parties [Axis] Parent [Member]
Related party [Axis] 1
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of transactions between related parties [Abstract]
Disclosure of transactions between related parties [Line items]
Name of related party
Country of incorporation or residence of related party INDIA INDIA
CIN of related party U45201GJ2006PTC066449 U45201GJ2006PTC066449
Description of nature of transactions with related party AS PROVIDED AS PROVIDED
Description of nature of related party relationship Holding company Holding company
Related party transactions [Abstract]
Purchases of goods related party transactions 0 0
Revenue from sale of goods related party transactions 0 0
Purchases of property and other assets, related party transactions 0 0
Sales of property and other assets, related party transactions 0 0
Services received related party transactions 0 0
Revenue from rendering of services related party transactions 0 0
Leases as lessor related party transactions 0 0
Leases as lessee related party transactions 0 0
Transfers of research and development from entity related party transactions 0 0
Transfers of research and development to entity related party transactions 0 0
Transfers under license agreements from entity related party transactions 0 0
Transfers under license agreements to entity related party transactions 0 0
Transfers under finance agreements from entity, related party transactions 0 0
Transfers under finance agreements to entity, related party transactions 0 0
Provision of guarantees or collateral by entity related party transactions 0 0
Provision of guarantees or collateral to entity related party transactions 0 0
Commitments made by entity, related party transactions 0 0
Commitments made on behalf of entity, related party transactions 0 0
Settlement of liabilities by entity on behalf of related party, related party
transactions
0 0
Settlement of liabilities on behalf of entity by related party, related party
transactions
0 0
Participation in defined benefit plan that shares risks between group
entities, related party transactions
0 0
Other related party transactions expense 2,37,40,897 8,38,29,323
Other related party transactions income 0 0
Other related party transactions contribution made 44,35,00,000 187,63,50,000
Other related party transactions contribution received 26,45,99,998 197,77,25,000
Outstanding balances for related party transactions [Abstract]
Amounts payable related party transactions 7,55,96,767 23,80,02,665
Amounts receivable related party transactions 0 0
Outstanding commitments made by entity, related party transactions 0 0
Outstanding commitments made on behalf of entity, related party transactions 0 0
Explanation of details of guarantees given or received of outstanding
balances for related party transaction
0 0
Provisions for doubtful debts related to outstanding balances of related party
transaction
0 0
Expense recognised during period for bad and doubtful debts for related party
transaction
0 0

139
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of related party [TextBlock]
[See below]
Whether there are any related party transactions during year Yes Yes
Disclosure of transactions between related parties [TextBlock]
Whether entity applies exemption in Ind AS 24.25 No No
Whether company is subsidiary company Yes Yes
Section under which company is subsidiary Section 2(87)(ii) Section 2(87)(ii)

140
Disclosure of related party [Text Block]
Related Party Transactions
Disclosure of transactions with related Parties, as
required by Ind AS 24 “Related Party Disclosures”
as specified in the Companies (Accounting
standard) Rules (As amended), 2015 has been set
out in separate note. Related parties as defined
under clause 9 of the Ind AS 24 have been identified
on the basis of representation made by Key
management personnel and information available
with the Company.
1. Related Parties
A. Enterprises
controlling the
Company
Adani
Infrastructure
and
Developers
Private
Limited-
Holding
Company
Adani
Properties
Private
Limited -
Ultimate
Holding
Company
B. Enterprises
under common
control with
whom
transactions
done during the
year:
Real Deal
Developers
Private
Limited
Adani Rail
Infra Private
Limited
Budhpur

141
Buildcon
Private
Limited
Valuable
Properties Pvt
Ltd
Adani
Township &
Real Estate
Company
Private
Limited
Swayam
Realtors &
Traders LLP
Columbia
Chrome
(India)
Private
Limited
Belvedere
Golf and
Country Club
Private
Limited
Adani Estate
Management
Private
Limited
Adani
Bramha
Synergy
Private
Limited
Alton
Buildtech
India Private
Limited
Esteem
Construction
Company
Limited
Adani
Petronet
(Dahej) Port
Private
Limited
Jade Agri
Land Private
Limited

142
Adani
Foundation
Adani
Institute for
Education
and Research
C. Key
Management
Personnel
Mr. Ranjan
Wazir
(Director)
(till
05/07/2019)
Mr.
Madhusudana
Rao
Kalagarla
(till
25.11.2020)
Mr.
Laxmiprsad
Choudhary
(Director)
(till
25.11.2020)
Mr. Milan
Joshi (w.e.f.
25.11.2020)
Mr. Rajesh
Jain (w.e.f.
25.11.2020)
2. Nature and Volume of Transaction with Related
Parties :
( Amount in Rs. )
Sr. No
Nature of
Transaction
For the year ended
March 31, 2021
For the year ended
March 31, 2020
1 Interst Income
Swayam
Realtors &
Traders LLP
4,679,962 82,261,272
Adani Rail Infra
Private Limited 1,753,500 -

143
Columbia
Chrome (India)
Private Limted
140,957,651 126,682,017
2
Interest expense:
(Gross)
Adani
Infrastructure
and Developers
Private Limited
23,740,897 83,829,323
3
Loans and
Advances
granted:
Adani Township
& Real Estate
Company
Private Limited
748,550,000 2,206,060,000
Swayam
Realtors &
Traders LLP
- 43,000,000
Columbia
Chrome (India)
Private Limited
140,252,863 6,900,000
4
Loans and
Advances
repayment
received:
Adani Township
& Real Estate
Company
Private Limited
1,722,800,000 2,646,500,000
Swayam
Realtors &
Traders LLP
105,639,220 1,000,000,000
Adani Rail Infra
Private Limited 45,456,486 -
Jade Agri Land
Private Limited - 503,700,000
5
Unsecured
Loans received:
Adani
Infrastructure
and Developers
Private Limited
264,599,998 1,977,725,000

144
6 Unsecured
Loans repaid:
Adani
Infrastructure
and Developers
Private Limited
443,500,000 1,876,350,000
Real Deal
Developers
Private Limited
300,000,000 -
7 CSR Expense:
Adani
Foundation - 825,000
8
Reimbursement
of Expense:
Adani Township
& Real Estate
Company
Private Limited
- 18,618,912
9
Staff Welfare
Exp
Adani Institute
for Education
and Research
- 654,000
Belvedere Golf
And Country
Club Private
Limited
5,459 -
10
Intercompany
Employee
Transfer
Adani Township
& Real Estate
Company
Private Limited
- 69,880
Adani
Infrastructure
and Developers
Private Limited
7,128,088 -
Valuable
Properties Pvt
Ltd
64,560 -

145
3. Outstanding Balances: ( Amount in Rs. )
Sr. No
Nature of
Transaction
For the year ended
March 31, 2021
For the year ended
March 31, 2020
1 Payable to:
Adani
Infrastructure
and Developers
Private Limited
75,596,767 238,002,665
Real Deal
Developers
Private Limited
- 300,000,000
Budhpur
Buildcon Private
Limited
- 30,226,430
Valuable
Properties Pvt
Ltd
64,560 -
2
Receivable
from:
Adani Township
& Real Estate
Company
Private Limited
1,282,449,852 2,237,919,393
Swayam
Realtors &
Traders LLP
- 105,639,220
Columbia
Chrome (India)
Private Limited
1,360,665,428 1,220,412,565
Belvedere Golf
and Country
Club Private
Limited
194,700 194,700
Adani Estate
Management
Private Limited
(Earlier known
as Shantigram
- 389,400

146
Estate
Management
Private Limited)
Adani Bramha
Synergy Private
Limited
3,579,022 3,579,022
Alton Buildtech
India Private
Limited
- 1,136,072
Esteem
Construction
Company
Limited
- 278,750
Adani Petronet
(Dahej) Port
Private Limited
- 25,000
[611700] Notes - Other provisions, contingent liabilities and contingent assets
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of other provisions, contingent liabilities and contingent assets
[TextBlock]
[See below]
Disclosure of contingent liabilities [TextBlock]
Whether there are any contingent liabilities No No

147
Disclosure of other provisions, contingent liabilities and contingent assets [Text Block]
Provision, Contingent Liabilities and Contingent Assets
Provision are recognised for when the company has at present, legal or contractual obligation as a result of past events, only if it is
probable that an outflow of resources embodying economic outgo or loss will be required and if the amount involved can be measured
reliably.
Contingent liabilities being a possible obligation as a result of past events, the existence of which will be confirmed only by the
occurrence or non occurrence of one or more future events not wholly in control of the company are not recognised in the accounts. The
nature of such liabilities and an estimate of its financial effect are disclosed in notes to the Financial Statements.
Contingent assets are neither recognised nor disclosed in the financial statements.
Contingent liabilities and Commitments :
As at
31st March,
2021
As at
31st March, 2020
(i) Contingent liabilities :
The company does not have any contingent liability as on 31st March, 2021 and 31st
March, 2020.
(ii) Capital Commitments (Net of Capital Advances)
- -
(iii) The Honourable Supreme Court of India vide its order dated 28th February, 2019
held that ‘Basic Wages’ for the contribution towards Provident Fund (PF) should only
exclude [in addition to specific exclusions under Section 2(b)(ii) of the Employees
Provident Fund Act, 1952]:
a) amounts that are payable to the employee for undertaking work beyond the normal
work which he/she is otherwise required to put in and
b) allowances which are either variable or linked to any incentive for production
resulting in greater output by an employee and that the allowances are not paid across
the board to all employees in a particular category or were being paid especially to
those who avail the opportunity.
With reference to the above mentioned judgment, the Company’s Management is of
the view that there is considerable uncertainty around the timing, manner and extent in
which the judgment will be interpreted and applied by the regulatory authorities.

148
Management is of the view that any incremental outflow in this regard can only be
determined once the position being taken by the regulatory authorities in this regard is
known and the Management is able to evaluate all possible courses of action available.
Accordingly, no provision has been currently recognized in these Financial Statements
in this regard.
[700200] Notes - Corporate social responsibility
01/04/2020
to
31/03/2021
Disclosure of corporate social responsibility explanatory [TextBlock]
Whether provisions of corporate social responsibility are applicable on
company
No
[610500] Notes - Events after reporting period
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of events after reporting period [TextBlock]
[See below]
Disclosure of non-adjusting events after reporting period [TextBlock]
Whether there are non adjusting events after reporting period No No
Disclosure of events after reporting period [Text Block]
Events occurring after the Balance sheet Date
The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to approval of the financial
statements to determine the necessity for recognition and/or reporting of any of these events and transactions in the financial statements.
There are no subsequent events to be recognized or reported that are not already disclosed.
[612500] Notes - Share-based payment arrangements
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of share-based payment arrangements [TextBlock]
Whether there are any share based payment arrangement No No

149
[613000] Notes - Earnings per share
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of earnings per share [TextBlock]
[See below]
Basic earnings (loss) per share from continuing operations [INR/shares] 3.18 [INR/shares] -6.97
Total basic earnings (loss) per share [INR/shares] 3.18 [INR/shares] -6.97
Diluted earnings (loss) per share from continuing operations [INR/shares] 0.29 [INR/shares] -6.97
Total diluted earnings (loss) per share [INR/shares] 0.29 [INR/shares] -6.97
Profit (loss), attributable to ordinary equity holders of parent entity
[Abstract]
Profit (loss), attributable to ordinary equity holders of parent entity 0 0
Profit (loss), attributable to ordinary equity holders of parent
entity including dilutive effects
0 0
Weighted average shares and adjusted weighted average shares [Abstract]
Weighted average number of ordinary shares outstanding [shares] 0 [shares] 0

150
Disclosure of earnings per share [Text Block]
Earnings Per Share
The Basic EPS has been computed by dividing the income available to equity shareholders by the weighted average number of
equity shares outstanding during the accounting year.
The Diluted EPS has been computed using the weighted average number of equity shares and dilutive potential equity shares
outstanding at the end of the year.
Earnings per share
Particulars
For the year
ended
31st March, 2021
For the year ended
31st March, 2020
Basic and Diluted EPS - From Continuing Operations
Profit/ (Loss) attributable to equity shareholders Rs.
31,804,682 (69,739,333)
Weighted average number of equity shares outstanding
during the year
No
10,000,000 10,000,000
Weighted average number of potential equity shares outstanding during the year
101,535,533 101,535,533
Nominal Value of equity share Rs.
10 10
Basic EPS Rs.
3.18 (6.97)
Diluted EPS Rs.
0.29 (6.97)
Compulsory Covertible Debentures (CCD) are Anti Dilutive in nature. Hence, it is
not considered in calculation of Dilutive Earnings per share in FY 2019-20 as per Ind
AS 33

151
[610900] Notes - First time adoption
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of first-time adoption [TextBlock]
Whether company has adopted Ind AS first time No No

Adani Estates 2021 Annual Report.pdf

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