1.4.11 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

A provision is recognised when the Company has a present obligation as a result of past event, it is probable that
an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate

can be made of the amount of the obligation. Provisions determined based on the best estimate required to settle
the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the
current best estimates.

Provisions are discounted to their present values, where the time value of money is material. Where discounting is
used, the increase in the provision due to the passage of time is recognized within finance costs.

The principal provisions recognized by the Company are as follows:

Provision for warranty charges:

Provision for warranty is recognized based on an assessment of future claims with reference to past experience.
Provision for Onerous Contracts:

Present obligations arising under onerous contracts are recognized and measured as provisions. An onerous
contract is considered to exist where the company has a contract under which the unavoidable costs of meeting the
obligations under the contract exceed the economic benefits expected to be received under it.

Arbitration Awards:

Arbitration / Court’s awards along with related interest receivable/payable are, to the extent not taken into accounts
at the time of initiation, are recognized after it becomes decree. Permanent Machinery of Arbitration, Govt of India,
is accounted for on finalization of award by the appellate authority. Interests to/from in these cases are accounted
when the payment is probable which the point is when matter is considered settled by management.

Other Provisions:

Other Provisions include Provision for Research & Development, Provision for CSR Activities and Provision for
Other Contingency.

Contingent liabilities and claims against the company not acknowledged as debt, and contingent liabilities related to
legal proceedings or regulatory matters, including certain guarantees, are not recognised in the financial statements.
However, these are disclosed unless the probability of settlement is remote.

Contingent Liabilities are disclosed on basis of judgment of management after a careful evaluation of facts and legal
aspects of matter involved.

Contingent Assets are disclosed when probable and recognised when realization of income is virtually certain.

1.4.12 OTHER INCOME

Interest, Dividend and Rental income

Interest income is reported on an accrual basis using the Effective Interest Rate method (EIR). Interest income on
mobilisation advances/financial assistance given to contractors recoverable in short term is recognised using simple
interest method which approximates the effective interest rate.

Interest income on bank deposits held on behalf of client is netted off from interest payable to client on such deposits.
Dividend income is recognised at the time the right to receipt is established.

Other items of income are recognised in the statement of profit and loss when control of respective goods or service
has been transferred to customer.

1.4.13 INVESTMENT PROPERTY
Recognition

Investment Properties are stated at their cost of acquisition. The cost comprises purchase price, borrowing cost,
if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for the
intended use. Any trade discount and rebates are deducted in arriving at the purchase price.

When an asset is acquired or added during the financial year, depreciation is charged based on the Proportionate
number of days the asset is available for use within that financial year.

The residual values, useful lives and methods of depreciation of investment properties are reviewed at each financial
year end and adjusted prospectively, if appropriate.

De-Recognition

An item of Investment Property and any significant part initially recognised is derecognised upon disposal or when
no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of
the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is
included in the income statement when the asset is derecognised.

1.4.14 CASH AND CASH EQUIVALENTS

Cash and Cash Equivalents comprise Cash in hand, Balances in Bank Account, Remittance in Transit, Cheques
in hand and Demand Deposits, together with other short-term, highly liquid investments (original maturity less than
3 months) that are readily convertible into known amounts of cash and which are subject to an insignificant risk of
changes in value.

1.4.15 EQUITY, RESERVES AND DIVIDEND PAYMENTS

Share capital represents the nominal value of shares that have been issued. Any transaction costs associated with
the issuing of shares are deducted from retained earnings, net of any related income tax benefits.

Other components of equity include Other Comprehensive Income (OCI) arising from actuarial gain or loss on re¬
measurement of defined benefit liability and return on plan assets.

Retained earnings include all current and prior period retained profits. All transactions with owners of the parent
are recorded separately within equity. Annual dividend distribution to shareholders is recognised as a liability in the
period in which the dividend is approved by the shareholders. Any interim dividend paid is recognised on approval by
Board of Directors. Dividend payable and corresponding tax on dividend distribution is recognised directly in equity.

1.4.16 INTANGIBLE ASSETS
Recognition

Intangible assets are initially measured at cost of acquisition thereof. The cost comprises purchase price, borrowing
cost if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for the
intended use. Any trade discount and rebates are deducted in arriving at the purchase price.

Subsequent Measurement (Amortization)

Amortization on Intangible Assets is charged on the straight line method on the basis of rates arrived at with reference
to the useful life of the assets evaluated and approved by the Management.

De-recognition

An item of Intangible Asset or any significant part initially recognised is derecognised upon disposal or when no
future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of the
asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is
included in the Statement of Profit and Loss Account when the asset is derecognized.

1.4.17 LEASES

Company as a Lessee

At inception of a contract, the company assess whether the contract is, or contains, a lease.

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

Recognition:

1. “Right of Use (ROU) Asset”:

At the commencement date, the company recognizes a right-of-use asset and a lease liability, except:

a. For lease with a term of twelve months or less (Short term leases) and,

b. Leases for which the underlying asset is of low value

For short term lease and assets of low value the company recognizes the lease payments as an operating expense
on a straight-line basis over the term of lease.

2. “Lease Liability”

At the commencement date, the company measures the lease liability at the present value of the lease payments
that are not paid at that date.

The lease payments are discounted using the effective interest rate.

Subsequent measurement

1. “Right of Use (ROU) Asset”:

After the commencement date, the company measure the right-of-use asset at cost less any accumulated
depreciation and is subject to impairment losses.

2. “Lease Liability”

After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and
reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there
is any reassessment or modification.

The residual values, useful lives and methods of depreciation of right of use are reviewed at each financial year
end and adjusted prospectively, if appropriate.

De-Recognition

A right of use assets initially recognised is derecognized upon disposal or when no future economic benefits are
expected from its use or disposal. Any gain or loss arising on de-recognistion of the right of use assets (calculated as
the difference between the net disposal proceeds and the carrying amount of the asset) is included in the Statement
of Profit and Loss account when the right of use asset is derecognized.

Company as a Lessor
Operating lease

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset are
classified as operating leases. Assets leased out under operating leases are recognized & presented according to
the nature of the underlying asset.

Rental income is recognized on straight-line basis over the lease term except where scheduled increase in rent
compensates the Company with expected inflationary costs.

1.4.18 NON CURRENT ASSETS HELD FOR SALE

Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be
recovered principally through a sale (rather than through continuing use) when the asset (or disposal group) is
available for immediate sale in its present condition subject only to terms that are usual and customary for sale
of such asset (or disposal group) and the sale is highly probable and is expected to qualify for recognition as a
completed sale within one year from the date of classification.

Non-current assets and disposal groups classified as held for sale are measured at lower of their carrying amount
and fair value less costs to sell. The determination of fair value less costs to sell includes use of management
estimates and assumptions.

Non-current assets are not depreciated or amortized while they are classified as held for sale.

1.4.19 LIQUIDATED DAMAGES

Liquidated Damages / Compensation for delay in respect of clients/ contractors, if any, are accounted for when
payment is probable which is the point when matter is considered settled by management.

1.4.20 PRIOR PERIOD EXPENDITURE INCOME

Expenditures / Incomes relating to prior periods and considered not material has been accounted for in the respective
head of accounts in the current year.

1.4.21 SIGNIFICANT MANAGEMENT JUDGEMENT IN APPLYING ACCOUNTING POLICIES AND ESTIMATION
UNCERTAINTY

Financial Statements are prepared in accordance with GAAP in India which require management to make estimates
and assumptions that affect the reported balances of assets, liabilities and disclosure of contingent liabilities at the
date of the financial statements and reported amounts of income & expenses during the periods. Although these
estimates and assumptions used in accompanying Financial Statements are based upon management’s evaluation
of relevant facts and circumstances as of date of Financial Statements which in management’s opinion are prudent
and reasonable, actual results may differ from estimates and assumptions used in preparing accompanying Financial
Statements. Any revision to accounting estimates is recognized prospectively from the period in which results are
known/ materialize in accordance with applicable Indian Accounting Standards

Information about estimates and assumptions that have the most significant effect on recognition and measurement
of assets, liabilities, income and expenses is provided below.

SIGNIFICANT MANAGEMENT JUDGEMENT

The following are Significant Management Judgements in applying the Accounting Policies of the Company that
have the most significant effect on the Financial Statements:

Recognition of Deferred Tax Assets - The extent to which deferred tax assets can be recognized is based on
an assessment of the probability of the Company’s future taxable income against which the deferred tax assets
can be utilized.

Evaluation of indicators for Impairment of Assets— Significant judgements are involved in evaluation of
applicability of indicators of impairment of assets which requires assessment of several external and internal factors
which could result in deterioration of recoverable amount of the assets. These indicators may include significant
financial difficulty of the issuer or debtor, default or delinquency in payments, significant adverse changes in the
technological, market, economic, or legal environment, among others.

Property, Plant and Equipment - Management assess the remaining useful lives and residual value of property,
plant and equipment and believes that the assigned useful lives and residual value are reasonable

ESTIMATION UNCERTAINTY

Information about estimates and assumptions that have the most significant effect on recognition and measurement
of assets, liabilities, income and expenses is provided below.

Revenue Recognition— Where revenue contracts include deferred payment terms, the management determines
the fair value of consideration receivable using the expected collection period and interest rate applicable to similar
instruments with a similar credit rating prevailing at the date of transaction.

Recoverability of Advances/ Receivables— The Project heads, Zonal heads and Regional/Strategic Business
groups from time to time review the recoverability of advances and receivables. The review is done at least once in
a financial year and such assessment requires significant management judgement based on financial position of the
counter-parties, market information and other relevant factors.

Defined Benefit Obligation (DBO) - Management’s estimate of the DBO is based on a number of critical underlying
assumptions such as standard rates of inflation, medical cost trends, mortality, discount rate and anticipation of
future salary increases. Variation in these assumptions may impact the DBO amount and the annual defined
benefit expenses.

Contingencies - Management judgement is required for estimating the possible outflow of resources, if any, in
respect of contingencies/claim/litigations against the Company as it is not possible to predict the outcome of pending
matters with accuracy.

Provisions for Warranties - Management’s estimate of the warranties is based on engineering estimates and
variation in these assumptions may impact the provision amount and the annual warranty expenses.

Liquidated Damages - Liquidated Damages receivables are estimated and recorded as per contractual terms;
estimate may vary from actual as levied on contractor.

1.4.22 RECENT ACCOUNTING PRONOUNCEMENT:

The Ministry of Corporate Affairs (“MCA”), vide notification dated May 07, 2025, amended the Companies (Indian
Accounting Standards) Rules as below:

Ind AS 21 - The Effects of Changes in Foreign Exchange Rates: amendment requires the entities to assesses
whether a currency is exchangeable into another currency at a measurement date & for a specified purpose. If
an entity is able to obtain no more than an insignificant amount of the other currency at the measurement date for
the specified purpose, the currency is not exchangeable into the other currency." In that case entity is required to
Estimate the spot exchange rate that meets the objective in paragraph 19A by using either

(a) an observable exchange rate without adjustment; or

(b) another estimation technique

The effective date of the amendment is May 07, 2025. The Company has evaluated the above amendment and there
is no impact on the Standalone Financial Statements.

Note -20 D

The Company has only one class of Equity Shares having a par value of H 1 per share. Each shareholder is eligible for one vote
per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuring
Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to
receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Note -20 E

During the current Financial year 2024-25, the Company has issued 90,00,00,000 equity shares of H 1.00 each as fully paid
bonus shares in the ratio of one equity share of H 1.00 each for every two equity shares held with rights pari passu with
existing Equity Shares.

Note -20 F

During the current year, Company has transferred 21136 (P.Y. 3657) number of shares in Investor Education and Protection
Fund (IEPF) held by investors pursuant to section 124(6) of The Companies Act, 2013 and the rules notified thereunder
whose dividend is unclaimed/unpaid for seven years to a demat account of the Investor Education and Protection Fund
(IEPF) Authority.

Note -20 G

During the current year, Company has transferred H 1.00 Lakh (P.Y. NIL) on account of Unpaid amount of sale proceed of
bonus fraction shares in Investor Education and Protection Fund (IEPF) held by investors pursuant to section 124(6) of The
Companies Act, 2013 and the rules notified thereunder

Reserves and Surplus

Nature and purpose of Other Reserves

Retained Earnings

Retained Earning represent the undistributed profits of the Company.

General Reserve

General Reserve represents the statutory reserve, this is in accordance with Corporate law wherein a portion of profit is
apportioned to General Reserve. Under Companies Act, 1956 it was mandatory to transfer amount before a company can
declare dividend from above specified limits, however under Companies Act, 2013 transfer of any amount to General Reserve
is at the discretion of the Company.

Other Comprehensive Income

Other Comprehensive Income represents balance arising on account of Gain/(Loss) booked on Re-measurement of Defined
Benefit Plans and Exchange Difference on translation of foreign operation.

Note - 29B

Disclosure as per Indian Accounting Standard (Ind AS) - 19 on Employee Benefit :

Gratuity

The Company has defined benefit gratuity plan. Every employee who has rendered continuous service of five years or more
is entitled to get gratuity on superannuation, resignation, termination, disablement or on death in accordance with Gratuity
Act 1972. In the year 2017-18, consequent upon the amendment in the Gratuity Act 1972, the maximum limit of Gratuity
to be paid to any employee enhanced from H 10.00 lakh to H 20.00 lakh. The scheme is funded by the Company and is
managed by a separate trust formed in the year 2007-08. The liability for the same is recognised on the basis of actuarial
valuation and accordingly transferred to Gratuity Trust. The provision for the year 2024-25 is H 543.36 lakh {Previous Year
H 529.98 lakh}. The gains/losses on the remeasurement of the assumptions on the Gratuity plan have been recognised in
Other Comprehensive Income (OCI).

Earned Leave (EL)

The Company has other long term benefit plan for Earned Leave Encashment. Provision for Encashment of Earned Leave
equivalent to maximum of 300 days (basic pay plus dearness allowance) is provided at the year end and charged to Statement
of Profit & Loss. The liability for the year 2024-25 is accounted for on the basis of Actuarial Valuation. The cumulative liability
for Earned Leave Encashment as on March 31,2025 is H 4020.97 lakh {Previous Year H 3796.89 lakh}.

Half Pay Leave (HPL)

The encashment of half pay leave on superannuation is allowed only to the extent of short fall in earned leave. e.g.If an
employee is having earned leave of less than 300 days on the day of supperannuation, he/she is entitled for payment of half
of the Basic pay plus dearness allowance thereon on the number of days by which earned leave is short of 300 days.The
liability for the year 2024-25 is accounted for on the basis of Actuarial Valuation. The cumulative liability for Half Pay leave
Encashment as on March 31,2025 is H 1339.42 lakh {previous year H 1370.02 lakh}.

Travelling Allowance on Superannuation

The cumulative liability for Travelling Allowance to be paid to the employees on superannuation (exit) as on March 31, 2025
is H 37.33 lakh {previous year H 37.29 lakh} based on actuarial valuation.The gains/losses on the remeasurement of the
assumptions on the plan have been recognised in Other Comprehensive Income (OCI).

Post Retirement Medical Benefits (PRMB)

The Company has been providing medical benefit to retired employees under Post Retirement Medical Benefits (PRMB),
which considered to be a defined benefit plan and Provision for such benefits, till September 30, 2024, amounting to
H 15173.72 lakh (March 31,2024, H 12180.89 lakh) was provided based on actuarial valuation basis and actuarial gains/losses
on the remeasurement of the plan up to September 30, 2024 of H 3138.20 lakh (P.Y. H 3585.89 lakh) was recognised in Other
Comprehensive Income (OCI).

W.e.f. October 01, 2024, the Company decided to provide benefits under PRMB through a funded trust, which will take a
medical policy for provision of the benefits under PRMB. The Company has also decided that w.e.f. October 01,2024 the rate
of contribution to the trust would be @3.19% Per Month of Salary (Basic Pay plus Dearness Allowance) of regular employees.
The Net liability of the Company towards trust as on March 31, 2025 is H 14757.86 lakh (being the provision stood as at
September 30, 2024 plus contribution @3.19% pm from October 01,2024 to March 31,2025, Amount Recovered/Recoverable
from Retired Employee less the amount of premium paid by the Company for procurement of insurance policy). Same is shown
under Note no. 27 - Other Current financial liabilities, which shall be transferred to the Trust on obtaining approval from CIT,
Income Tax under section 10(23AAA).

Pension

The company had implemented pension scheme through NBCC Employees Defined Contribution Superannuation (NBCC
EDCS) Pension trust for employee under Industrial Dearness Allowance (IDA) Pay pattern for those employees who have
completed 15 years of service in the CPSE and on the regular rolls of the company as on November 26, 2008. The scheme is
managed by a separate Trust formed in the year 2012-13 for the purpose.

Company has migrated from Existing NBCC EDCS Pension Scheme to NPS scheme w.e.f. December 01,2021 wherein minimum
qualifying service of 15 years is no longer required in accordance with the guidelines of Pay Revision of Board level and below
Board level Executives and Non-Unionised Supervisors of Central Public Sector Enterprises (CPSEs) w.e.f. 01.01.2017. The
NPS scheme is applicable to all employees except those were superannuated on or before March 31, 2022. The Company
continued to contribute 7.00% of the Salary (Basic plus Dearness Allowance) of the regular employees till September 30, 2024.

W.e.f. October 01, 2024, Company restructured the components of superannuation benefits and decided to enhance the
employer’s contribution from 7% to 10% of the Basic plus Dearness Allowance of the salary of regular employees. The
contribution for pension amounting to H 1084.65 lakh {Previous Year H 884.65 lakh} has been made during the year 2024-25.

Provident Fund

The Company contributes @12% as Employer Contribution to Employee Provident Fund, which is being managed by a EPF
trusts, established under Employees' Provident Funds and Miscellaneous Provisions Act, 1952 for this purpose, Contribution
made is charged to the Statement of Profit and Loss. In accordance with regulatory requirements, shortfall if any in the net income
of the trusts below the Government-specified minimum rate of return is made good by the Company. During the current year,
the Company declared an interest rate on the Provident Fund that exceeded the Government-specified minimum rate of return.

Long Service Awards

The Company has a Scheme of Long Service Awards, introduced from Financial Year 2016-17 covering all the below Board
Level regular employees of the Company, who were on the roll of the Company as on September 3, 2016 onwards and
completed (i) 25 Years of Service or more (ii) 30 Years of Service or more (iii) 35 Years of Service or more & (iv) 40 Years of
Service or more. From March 31,2025, the Company restructured the scheme to include additional slabs for 36, 37, 38, and
39 years of service, in addition to the existing categories. The company has recognised a liability of H 457.05 lakh {Previous
Year H 201.31 lakh} as at March 31 ,2025 on the basis of Actuarial Valuation.

2. Transactions & Balances with Related Parties

The company is a government company under the aegis of Ministry of Housing and Urban Affairs. 61.75% of the share
holding in the company as at March 31,2025 (As at March 31,2024 61.75%) is held by President of India.

The Company is having three fully owned subsidiaries and One partly owned subsidiary over which government exercise
direct/indirect control by holding more than 50% of the voting power.

In accordance with paragraph 25 of Indian Accounting Standard (Ind AS) 24 - Related Party Disclosures, the Company
is exempted from providing disclosures pertaining to transactions with its subsidiary companies and joint venture entities,
as these entities are state-controlled enterprises where the ownership by the Central and/or State Government, directly
or indirectly, exceeds 50% of the voting rights.

The company generally enter into transactions with the subsidiary companies/ Joint Ventures at arm's length price in the
normal course of business which includes the purchase and sale of properties, rendering of services, receipt of services
and secondment of employees.

The carrying amount of Trade Receivables, Trade Payables and Cash & Cash Equivalent are considered to be the same as
their Fair Values due to their short term nature.

The carrying amount of the Financial Assets and Liabilities carried Amortised Cost is considered a reasonable
approximation of Fair Value.

The above table excludes Investment in Subsidiaries, Associate and Joint Venture, which are measured at cost in accordance
with Ind AS 27, 'Separate Financial Statements'.

(i) Fair Value Hierarchy

Financial Assets and Financial Liabilities measured at fair value in the Balance Sheet are grouped into three Levels of a fair
value hierarchy. The three Levels are defined based on the observability of significant inputs to the measurement as follows:

• Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

• Level 2: The fair value of Financial Instruments that are not traded in an active market is determined using valuation
techniques which maximise the use of observable market data and rely as little as possible on entity specific estimates.

• Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is
included in level 3.

(iii) Valuation Technique used to determine Fair Value

Specific valuation techniques used to value Financial Instruments includes the use of Net Asset Value for Mutual Funds
on the basis of the statement received from investee party.

Note -52

Financial Risk Management

The Company’s activities expose it to credit risk, liquidity risk and market risk. The Company's board of directors has overall
responsibility for the establishment and oversight of the Company's risk management framework. This note explains the sources
of risk which the entity is exposed to and how the entity manages the risk and the related impact in the Financial Statements.

(A) Credit Risk

The Company is exposed to credit risk from its Operating Activities (Primarily Trade Receivables) and from its Financing
Activities including Deposits with Banks, Mutual Funds and Financial Institutions and other Financial Instruments.

(i) Credit Risk Management

The Company assesses and manages credit risk of Financial Assets based on following categories arrived on the
basis of assumptions, inputs and factors specific to the class of Financial Assets.

A: Low Credit Risk on financial reporting date

B: Moderate Credit Risk

C: High Credit Risk

(B) Liquidity Risk

The Company's principal sources of liquidity are Cash and Cash Equivalents which are generated from Cash Flow from
Operations. The Company has no fund based outstanding Bank Borrowings. The Company considers that the Cash
Flows from Operations are sufficient to meet its current liquidity requirements.

Maturities of Financial Liabilities

The tables below analyse the Company’s Financial Liabilities into relevant maturity groupings based on their contractual
maturities. The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12
months equal their carrying balances as the impact of discounting is insignificant.

Dealing in foreign currencies involve foreign exchange risk, and the exchange rate may change unfavourably before the
currency is exchanged. In order to minimise or eliminate foreign exchange risk, surplus funds are exchanged/ repatriated to
India at the appropriate time. The Company has minimise their exchange fluctuation risk, as inwards and outwards is in the
same foreign currency. This provides natural hedging against foreign currency fluctuation risk.

Note -53

Capital Management

The Company’s objectives when managing capital are to:

(i) Safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and
benefits for other stakeholders, and

Note -58

Inventory Disclosures

LAND BANK, WORK IN PROGRESS AND COMPLETED PROJECTS:

(i) Land at Naya Raipur, Chattisgarh

Real estate Land bank shown under Note No.11 includes H 2,552.39 Lakh (Previous year H 2,195.35 Lakh) toward Land
for a Group Housing Plot admeasuring 30,436 Sqm. at Naya Raipur, Chattisgarh, lease deed in respect of which is yet to
be executed. As per the terms of allotment, lease deed shall be executed between owners association / Housing society,
to-be-formed in future and Naya Raipur Development Authority (NRDA). The company is in the process of development
of land, approval for development from various authorities is being taken.

(ii) Land at Faridabad

Real estate Land bank shown under Note No.-11 includes H13,178.41 Lakh (Previous year H 13,178.41 Lakh) toward
Land for a Group Housing Plot admeasuring 16,753.99 Sqm. at Faridabad, execution of conveyance deed in respect of

which is pending for want of Environment clearance which is dependent on submission of NOC from Forest Department.
NOC from Forest department was not received on the ground that “the criteria for clarification of deemed forests is
pending before the Hon’ble Supreme Court and Govt. of Haryana has yet not identified deemed forests”. Company has
taken up the matter with Government of Haryana to either issue necessary instructions to Forest Department for issuing
of NOC as required for Environmental Clearance or refund the amount paid with interest to company.

A provision of H1,073.66 Lakh as at March 31,2025 (up to Previous year H1,073.66 Lakh) has been made in the books
towards reduction in the Net Realisable Value of the said land.

(iii) Land at Mouza Kalikapur, South 24 Parganas, West Bengal:

During the year a provision of H 182.35 lakh as at March 31,2025, has been made to write down the full value of land
parcel measuring 2 acres at Mouza Kalikapur, South 24 Parganas, West Bengal considering that there is no demonstrable
progress on the project for which land was acquired on long term lease.

(iv) Govindpuram Ghaziabad:

Real Estate Land Bank shown under Note No-11 includes H 6,450.22 Lakh up to March 31, 2025 (H 6,450.22 Lakh
up to March 31, 2024) for a land parcel measuring 14,675 Sqm. at Govind Puram Ghaziabad purchased in the year
2012. A demand notice against impugned corner charges and infrastructure charges for H 1,228.76 Lakh was issued by
Ghaziabad Development Authority (GDA) against which the Company has filed a Writ petition before Allahabad High
Court. Pending decision of the Writ Petition, Company has deposited H 1228.76 lakh as on May 24, 2025 under protest
as against recovery certificate of SDM Ghaziabad.

During the Current financial year 2024-25, Company has reversed the Provision of H 199.21 lakh as made in previous
years (P.Y. 2023-24 NIL) on account of increase in Net Realizable Value as per valuation done by IBBI Registered Valuer.

(v) NBCC Plaza at PushpVihar

The Company had paid a sum of H 3,021.78 Lakh to Land & Development Office (L&DO), Ministry of Housing & Urban
Affairs (MoHUA) in the year 2011 as additional premium for availing additional ground coverage (FAR) for construction of
“Additional Shopping cum Car Parking Blocks” in “NBCC Plaza” at Pushp Vihar, New Delhi. The company has incurred
a sum of H 1,718.84 lakh on construction cost including ground rent of the project till March 31, 2025 (H 1,718.84 lakh
upto March 31, 2024).Real Estate Construction Work in Progress shown under Note No-11 includes an amount of
H 4,740.61 Lakh (Previous Year H 4,740.61 Lakh) toward said project. Project is on hold pending approval of building
plan by Municipal Corporation of Delhi (MCD) since MCD is also demanding H 3,224.45 Lakh towards additional FAR
Charges. Since the Company had already paid the applicable FAR premium to L&DO, it contested the MCD's demand on
grounds of dual charging for the same component by two different authorities. The matter has been represented before
both MCD and L&DO at various forums, and the Company continues to pursue resolution with L&DO, MCD, and MoHUA.
A complete provision representing the value of expenditure towards construction amounting to H 954.43 lakh as at March
31,2025 (up to Previous year H 634.53 lakh) has been created in the books.

(vi) Kochi, Kerala

The Company has constructed a Group Housing Real Estate project at Kochi, Kerala, comprising 3,20,216 sq. ft. of
residential and 4,424 sq. ft. of commercial area on a land parcel of 3.18 acres having a value of H 281.77 Lakh. The total
cost including land, incurred on the project amounts to H 8,732.68 lakh as of March 31,2025 (H 8,722.60 lakh as of March
31,2024). The sale of units in the project was put on hold due to the non-availability of Environmental Clearance (EC) and
other requisite statutory approvals. RERA Registration was received for the project which has been expired in December,
2024 and renewal of the same is under process. EC was pending for project.

The State Expert Appraisal Committee (SEAC) in 147th meeting held on July 21, 2023 recommended the grant of EC
under the Office Memorandum (OM) dated July 07, 2021 and January 28, 2022 issued by Ministry of Environment Forest
& Climate Change (MoEFCC). EC was put on hold due to stay on aforesaid both the aforesaid OMs by the Hon’ble
Supreme Court, in W.P.(C) No. 1394/2023 titled Vanashakti vs. Union of India, vide order dated January 02, 2024.

Further, vide order dated May 16, 2025, in the said Writ Petition, the Hon’ble Supreme Court held that the 2017 Notification,
OM of 2021 and all related circulars, orders, and notifications issued in furtherance thereof are illegal and accordingly
struck them down.

The Company is currently exploring all legal and regulatory remedies available, Company has written down the value of
its inventory toward said project by H 8,015.53 lakh as Exceptional Item. Value of land of the project has been restated at
its original cost of H 281.77 lakh and being shown under “real estate land bank” and H 435.38 Lakh is being shown under
“Real Estate Building Structure (Unsold Units) -Scrap”, being net realisable scrap value.

(vii) Jackson Gate, Agartala

Real Estate Completed Projects shown under Note No-11 includes H 916.96 lakh up to March 31, 2025 (H 916.96 lakh
up to March 31, 2024), towards its share in development of a project located at Jackson Gate, Agartala, under Joint
Operations with Agartala Municipal Corporation (AMC). Since the project has already been completed, RERA registration
is not required, as confirmed by the Tripura Real Estate Regulatory Authority (T-RERA). The Company is exploring the
potential modalities in deliberation with AMC for monetisation of its share in the joint operation. Company is in receipt of
communications from Agartala Municipal Corporation that Govt. of Tripura has decided to set up a 50 bedded city hospital
in vacant portion of building.

(viii) Group Housing project in Alwar

Real Estate Completed Projects shown under Note No-11 includes H 5,806.44 Lakh up to March 31, 2025 (H 5,787.45
Lakh up to March 31, 2024) towards the cost of a Group Housing project located at Alwar named Aravali Apartments.
The substantial portion of the project was completed in the year 2018. The project is Pending for Sale. The completion
certificate of the project has been obtained and RERA registration/exemption has been received from Authority on
October 29, 2024.

A provision of H1,256.44 Lakh as at March 31,2025 (up to Previous year H 737.33 Lakh) has been created in the books
towards reduction in the Net Realisable Value of the said Project.

(ix) Sukheas Lane, Kolkata

Real Estate Construction Work in Progress shown under Note No-11 includes a project at Sukheas Lane, Kolkata,
developed under a Joint Venture between NBCC (India) Limited and Kolkata Metro Rail Corporation Limited (KMRCL).
The Company has incurred a total cost of H 549.59 lakh up to March 31,2025 (Previous Year: H 549.59 lakh as of March
31,2024). Since no MOU has been executed between the joint venture partners and given the prolonged inaction and
lack of tangible progress, the cost incurred by the Company on this project has been fully provided for during current year
ended March 31,2025.

(x) Sector - 37 D, Gurugram

The company had developed a residential real estate project at NBCC Green View, Sector - 37 D, Gurugram. The
Company had sold 392 units (255 flats, 126 EWS and 11 shops) out of 942 units and had received total amount of
H 21,012.80 lakh out of which H 15,957.58 lakh was recognised as revenue in the previous years and H 4,048.57 lakh was
booked as advance from Allottees till March 31,2022.

Subsequently, the buildings in the project exhibited structural cracks. Following expert advice from IIT Delhi, IIT Roorkee,
CBRI Roorkee, and CPWD, the building was fully evacuated due to safety concerns.

The company provides multiple settlement options to the allottees, including reconstruction of flats / units, full refund
with or without interest based on internal assessment and the order of various forum, since affected buyer filed petition
at various forum i.e. Haryana RERA, High Court and National Consumer Disputes Redressal Commission (NCDRC)
Subsequently, the National Consumer Disputes Redressal Commission (NCDRC), via its order dated March 5, 2024,
instructed the company to refund all deposits with 9% p.a. interest and pay H 10 lakh as exemplary damages to each
allottee within two months. The Board, in its 537th meeting on April 27, 2024, approved settlement with affected allottees
except those opting for reconstruction. A review petition led to an NCDRC clarification on April 16, 2024, confirming the
applicability of the order to all non-settled allottees.

Accordingly provisions were made in the books as per the NCDRC Orders for all allotees except those who opted for
reconstruction. In respect of those allotees who opted reconstruction, provision was made based on cost of reconstruction.
As a result, the company has recognized total provisions/write-offs/expenses amounting to H 45,302.13 lakh till March 31,
2024 as exceptional items. During the FY 2024-25, an additional provision of H1,580.38 Lakhs were made in the books
on account of increase in the area /enhanced specification to be offered to the allotees opted for settlement through
reconstruction. As a result, the company has recognized cumulative total provisions/write-offs/expenses amounting to
H 46,882.51 lakh up to March 31,2025 (H 45,302.13 lakh till March 31,2024) as exceptional items.

For the year ended on March 31, 2025, the Company spent H 20,823.25 lakh, including H 18,354.11 lakh for buybacks
of flats/ units, H 2,082.40 lakh for refund of advance, and H 386.74 lakh for stamp duty paid to state authorities. The
Company has written down inventory amounting to H 16,935.10 lakh being excess of amount paid H 18,354.11 Lakh over
proportionate value of units/flats H 1,419.01 lakh (Lower of Cost or Net Realizable Value (NRV)) and equivalent Provision
of H 16,935.10 lakh as was created in earlier year for buyback of flats/units as per NCDRC order has been reversed under
Exceptional Item.

Further, the land of the said project representing the proportionate value of undivided share attributable to unsold/buy-
back units of H 8,869.17 lakh as at March 31, 2025 (H 7,394.46 lakh as at March 31, 2024) included in the Real Estate
Land Bank under Note No-11 and salvage value of the construction portion of H 2,325 lakh as at March 31,2025 (H 2,325
lakh as at March 31,2024) is shown under “Real Estate Building Structure (Unsold Units) -Scrap” in the same note.

Legal Cases:

A recovery suit has been filed in the Delhi High Court against Ramacivil India Construction (P) Ltd. and others for H 75,000
lakh related to the project. Currently, there are 25 pending litigations against the company from allottees, who are neither
accepting refund as per NCDRC nor opting settlement through reconstruction, and also from contractors.

The costs and liabilities (if any), that may possibly be incurred towards additional interest or other compensation are not
ascertainable as on date(Refer Note No 46(A)(d)). However, quantifiable claims of homebuyers/allottees and contractor
is H 6,605.26 lakh as at March 31,2025 (March 31,2024 H 6,619.16 lakh), same has been included in Contingent liability
(Refer Note No 46(A)(a)).

Note -59

Other Disclosures

(a) Additional Informations in pursuance to Schedule III Division II is disclosed as under:

(i) The company has not been declared a Wilful Defaulters by any bank or financial institution or consortium thereof in
accordance with the guidelines on Wilful defaulters issued by the RBI.

(ii) There are no proceedings initiated or pending against the company for holding any Benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

(iii) The company has not traded or invested in Crypto currency or virtual curreny during the Year.

(iv) The company has neither advanced, loaned or invested fund nor received any fund to/from any person or entity
including foreign entities (Intermediaries) for lending or investing or providing guarantee to/on behalf of the ultimate
beneficiary during the year.

(v) During the Financial year, there is no charge or satisafaction of charge which is yet to be registered with ROC
beyond the statutory period.

(vi) During the FY 2024-25 till March 31,2025 the company has not entered into any scheme of arrangement in terms
of sections 230 to 237 of the Companies Act, 2013.

(vii) The company does not have any transaction not recorded in the books of accounts that has been surrendered or not
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

(viii) Pursuant to Rule 2(2)(d) of the Companies (Restriction on number of Layers) Rules, 2017, the requirment of number
of layers not applicable to the company.

(ix) The company has not taken any Fund based loan / limit from banks or financial institutions on the basis of security
of current assets. Hence, the use of borrowing for specific purpose not applicable to the company.

(b) The major clients of the company are ministries, Government Departments, Government Authorities and Public Sector
Undertakings. The balances of the clients in the nature of Trade Receivables, Loans and Advances, Earnest Money
Deposit, Security Deposit and Deposits in the nature of trade receivables classified under current and non current assets;
and also the trade payables are subject to confirmation, reconciliation and consequent adjustments. The management
does not expect any significant impact upon such reconciliation.

(c) Company has submitted a Resolution Plan under the Insolvency and Bankruptcy Code 2016 on May 17, 2025 as
Resolution Applicant in the matter of Corporate Insolvency Resolution Process (CIRP) of Celebration City Projects Private
Limited (CCPPL), to be referred as Corporate Debtor.

In case resolution plan is accepted by the Committee of Creditors (CoC), the Corporate Debtor would be acquired as a
going concern entity to be a subsidiary of the Company. Since the Resolution Plan is subject to voting / acceptance of
CoC with approval of NCLT, amount of equity to be infused would be known thereafter.

Expenditure incurred during the process of Resolution plan will be booked and paid in the financial year of 2025-26.

(d) The Company has incorporated a wholly owned subsidiary named NBCC Overseas Real Estate LLC in Dubai Mainland,
(UAE) on April 23, 2025 for carrying out real estate business. Authorized Dealer (AD Bank) on May 26, 2025 has informed
that RBI has approved application for remittance of equity share capital. The Company are in process of equity infusion.

(e) The company has acquired a 100% stake in HSCC (India) Limited (HSCC) by paying H 28,500.00 lakh to the Government
of India during FY 2018-19. As of March 31, 2025, the Net Asset Value of HSCC is lower than the carrying amount
of the company's investment. The subsidiary has consistently generated profits, paid dividends to the company, and
experienced an increase in its Net Asset Value since the acquisition.

Considering the revenue projections, existing order in hand, anticipated future profitability, and the liquidity position, the
management is confident that the Net Asset Value of the subsidiary company will improve and eventually match the
carrying value of the investment.

Note -60

Events After Balance Sheet Date

Proposed Final Dividend H 0.14 per share on face value of H 1.00 per share for total 27,000.00 lakh Number of Equity Shares
(P.Y. H 0.63 per share on face value of H 1 per share for total 18,000.00 lakh Number of Equity Shares) for the financial year
2024-25 which is subject to approval of shareholders in ensuing annual general meeting of the company.

Note -61

Regrouping / Reclassified

Previous year figures have been regrouped and/or reclassified, wherever considered, necessary to conform to those of the
current year grouping and/or classification. Negative figures have been shown in brackets.

As per our Report of even date attached For and on behalf of the Board of Directors
For ASA & Associates LLP

Chartered Accountants

Firm Reg. No: 009571N/N500006

Sd/- Sd/- Sd/- Sd/-

Parveen Kumar K. P. Mahadevaswamy Anjeev Kumar Jain Deepti Gambhir

(Partner) Chairman & Managing Director Director (Finance) & CFO Company Secretary

Membership No. 088810 (DIN : 10041435) (DIN : 09233328) (FCS : 4984)

Place : New Delhi
Date : May 29, 2025