We have audited the accompanying financial results of Twamev Construction and Infrastructure Limited (Formerly known as Tantia
Constructions Limited) (the Company), which comprise the Balance Sheet as at 31^st March, 2024, the statement of Profit and Loss Accounts
(including other comprehensive income), the statement of change in Equity and statement of Cash Flows for the year then ended, and Notes
to the financial statement including a summary of the significant accounting policies other explanatory information (hereinafter referred to as “the
financial statements”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone financial statements give
the information required by the Act 2013, as amended (“the Act”) in the manner so required and give a true and fair view in conformity with the
Indian Accounting Standard prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rule, 2015 as
amended, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31,2025,
and profit/loss, total comprehensive income, the changes in equity and its cash flows and for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our
responsibilities under those Standards are further described in the Auditor's 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
together with the ethical requirements that are relevant to our audit of the fi nancial statements under the provisions of the Companies Act, 2013
and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Ind AS financial statements of
the current period. These matters were addressed in the context of our audit of the Ind AS financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters. In our professional judgment, we have determined that there is
no key audit matter to be communicated in our report.

Emphasis of Matters

a. Note 55 , to the financial results states that the Company is in the process of making full and final settlement of resolution plan amount
of Rs. 2,100 Lakhs subject to account upgradation status from NPA , as per The NCLT, Kolkata order dated 14th July 2024.

b. The Company has initiated reconciliation process with Trade Receivable, Advances to Vendor and Creditors to determine the
continuation of contracts, details of work in progress with age, stage of completion, progress billing, dispute and undisputed dues. The
Company has made a provision of Rs. 664 Lakhs as provision for estimated credit loss based on own assessment of the T rade
Receivable, Advance to Vendor and Creditors. We relied on the Management Representation on the carrying amount and
provisions for expected credit loss as at March 2025.

c. Exceptional Item of Rs. 4,433 Lakhs (Previous Year -Rs. 1,697 Lakhs ) includes liability written back of Rs. 125 Lakh from trade
payable, and Rs. 3,240 Lakhs on account of Unbilled revenue, Rs. 1,317 Lakhs (Previous Year Rs. 1,845 Lakhs) provision for bad
and doubtful debts on account of Debtors, Advance to Vendor and creditors.

d. Revenue from operation of Rs. 8,486 Lakhs (Previous Year Rs. 5,305 Lakhs) includes Rs. 2,133 Lakhs (Previous Year Rs. 2,292
Lakhs) on account of unbilled revenue.

e. Note 46.1 of financial statement during the Year ended company recognized income of Rs. 10,672 Lakhs pursuant to arbitration
award.

f. Note 46.2 of financial statements during the year company started arbitration proceeding before Hon'ble Commercial Court , Cuttack
against a customer invoking dispute pertaining to suspended project and a provision of Rs. 3,118 Lakhs on account of unbilled
revenue has been provided for.

g. Note 50 of financial statements Company made a provision for impairment loss of Rs. 50 Lakhs (Previous Year Rs. 5,424
Lakhs) account of fair value of investment in Subsidiary based on independent impairment study by company.

h. Other income of Rs. 7,903 Lakhs (Previous Year Rs. 7,595 Lakhs) includes income of Rs. 7,795 Lakhs (Previous Year Nil ) on
account interest on arbitration award.

i. Company has not accounted for Rs. 8 Lakhs ( Jan 25 to March 25 ) as rental income for RMC plant at Guwahati cumulative income
not accounted for Rs. 32 Lakhs (from April 24 to March 25). Hence standalone profit is understated by Rs. 32 Lakhs.

j. M/s Tantia Sanjauliparkings Private Limited (TSPL) has been admitted to CIR process by adjudicating Authority vide order dated
23rd March 2023 and financial statement as on 31st March 2025 is not available for consolidation. Company made a provision for
impaired loss of Rs. 774 Lakhs on account of investment in associate company during the year ended 31st March 2024

Our opinion is not modified in respect of the above matters.

Information Other than the Financial Statements and Auditor's Report Thereon

The Company's Board of Director is responsible for the preparation of the other information. The other information comprises the Corporate
Information, Management Discussion and analysis and Director Report including Annexure to Director Report, Business Responsibility Report,
Corporate Governance and Shareholder's information, but does not include Standalone Ind AS financial statements and our auditor's report
thereon.

Our opinion on the Standalone Ind AS 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 Standalone Ind AS 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.

When we read the Director's report ,Management Discussion and analysis report and report on Corporate governance, we conclude that there
is a material misstatement therein, we are required to communicate the matter to those charged with governance under SA 720 “The Auditor's
responsibilities Relating to Others information and describe actions applicable in the applicable law and regulations.

Responsibilities of Management and those in charges with Governance for the Standalone Ind AS Financial Statements

The Company's Management is responsible for the matters stated in section 134(5) of the Companies Act 2013 with respect to the preparation
of these Standalone Ind As financial statements that give a true and fair view of the financial position, financial performance including
comprehensive income, change in equity and cash flows of the Company in accordance with the other accounting principles generally accepted
in India including Indian Accounting Standard(Ind AS). 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 control 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 Standalone financial statements, management is responsible for assessing the Company's 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.

Board of Director are responsible for overseeing the Company's financial reporting process.

Auditor Responsibilities for the Audit of the Standalone Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about whether the Standalone Ind AS financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor's 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 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:

• Identify and assess the risks of material misstatement of the Standalone Ind AS 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 control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the
company has adequate internal financial controls with reference to financial statements 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 and Board of Directors.

• Conclude on the appropriateness of management's 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 Company's ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report
to the related disclosures in the standalone financial statements or, if such disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained upto the date of our auditor's 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 Standalone Ind AS financial statements, including the disclosures, and
whether the Standalone Ind AS 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.

From the matters communicated with those charged with governance we determine those matters that were of most significant in the audit of the
Standalone Ind AS financial statements for the financial year ended on 31 st March 2025 and are therefore the key audit matters. We describe
these matters in our auditor's report unless law or regulator precludes public disclosure about the matter or when, in extreme rare circum¬
stances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As Required by the Companies (Auditor's Report) Order, 2020 (“the Order”) issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in the Annexure “A”, a statement on the matters specified in paragraphs 3 and 4 of the
Order, to the extent applicable.

2. As required by Section 143(3) of the Act, based on our audit 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 except for the matter stated in paragraph 2(h)(iv) below on reporting under rule 11 (g) of the Companies
(Audit and Auditors), Rules 2014 (as amended) (“the Rule”) and except that , in absence of sufficient appropriate audit evidence we
are unable to comment whether back up of books of account and other books and papers maintained in electronic mode , have been
kept in server physically located in India on a daily basis for the period from 01January 2025 to 31st March 2025.

c. The Balance Sheet, the Statement of Profit and Loss including the statement of other Comprehensive Income, Statement of Change
in Equity and the Statement of Cash Flow dealt with in this Report are in agreement with the books of account.

d. In our opinion, the aforesaid Standalone Ind AS financial statements comply with the Accounting Standards specified under Section
133 of the Act.

e. On the basis of written representation received from the director as on 31st March 2025 taken on record by the Board of Directors,
none of the director are disqualified as on 31 st March 2025 from being appointed as Director in terms of Section 164(2) of the Act.

f The Modification relating to the maintenance of accounts and other matters connected therewith, reference is made to our remarks
in paragraph 2(b) above on reporting under Section 143(3)(b) of the act and paragraph 2(i)(vi) below on reporting under Rule
11(g) of the Rules.

g. With respect to the adequacy of the internal financial controls with reference to standalone financial statements of the Company and
the operating effectiveness of such controls, refer to our separate Report “I n Annexure B” to this report.

h. With respect to the matter to be included in the Auditor's Report under section 197(16) of the Act.

In our opinion and according to information and explanation given to us, the managerial remuneration for the year ended March 31,
2025, has been paid/provided by the Company to its directors in accordance with the provisions of section 197 read with Schedule
V to the Act. The Ministry of Corporate Affairs has not prescribed other details under section 197(16) of the Act which are required
to be commented upon by us.

i. With respect to the other matters to be included in the Auditor's 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:

i. The Company has disclosed the impact of pending litigation on its financial position in its Standalone Ind AS financial statement
refer note no 39.

ii. The Company did not have any long-term contracts including derivative contracts for which there were any materials
foreseeable losses.

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

iv. (a) The management has represented that, to the best of its knowledge and belief, as disclosed in the note 58 to the standalone

financial statement, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or
any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies) including foreign entities
(“Intermediaries”) with the understanding, whether recorded in writing or otherwise that the intermediary shall,-

i. directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the Company (“Ultimate beneficiaries”) or

ii. provide any guarantee, security or the like on behalf of the Company (“Ultimate beneficiaries”) or provide any
guarantee, security or the like on behalf of the Ultimate beneficiaries.

(b) The management has represented that, to the best of its knowledge and belief, as disclosed in the note 58 to the standalone
financial statement, no funds have been received by the Company from any person(s) or entity(ies), including foreign
entities, (Funding parties), with the understanding whether recorded in writing otherwise, that the Company shall,

i. directly or indirectly, lend or invest in other entities or persons identified in any manner whatsoever by or on behalf of
the Funding Party (“Ultimate beneficiaries”) or

ii. provide any guarantee, security or the like on behalf of the Ultimate beneficiaries and

(c) Based on such audit procedures that we considered reasonable and appropriate in the circumstances, nothing has come
to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11 (e) contain any
materials misstatement.

v. The company has not declared any dividend during the year under review.

vi. Based on our examination which included test checks, the Company has used accounting software for maintenance of its books
of account which has a feature of recording of audit trail (edit log) facility, which was enabled, except in respect of certain relevant
transactions at application level. Further we were unable to verify whether the audit trail feature was enabled at the database
level in respect to this software, to log any direct data changes.

The audit trail facility, which was enabled at the application level, as reported above, has been operated for relevant transactions recorded
throughout the year.

During the course of our examination, we did not come across any instance of audit trail being tampered with.

For J Jain and Company
Chartered Accountants
Firm Reg. No. 310064E

CA Sanjay Lodha

Partner

M. No 058266

Date: 27.05.2025
Place: Kolkata

UDIN No: 25058266BMJESZ5393