Your Directors, with great pleasure present the 29th Annual Report together with the audited statement of accounts
for the financial year ended 31st March, 2024

1. FINANCIAL RESULTS

2. DIVIDEND

In view of the business condition, during the year the Board of Directors of your Company regret their inability to
recommend any dividend for the year ended on 31 st March, 2024.

3. TRANSFER TO RESERVES

The Company has not transferred any amount to the Reserves for theFinancial Year 2023-2024

4. TRANSFER OFUNPAID AND UNCLAIMED AMOUNT TO II PI

Pursuant to the provisions of Section 124(5) of the Companies Act, 2013, dividend and Refund of Share application
Money due for refund which remains unpaid or unclaimed for a period of seven years from the date of its transfer to
unpaid dividend/ unclaimed account is required to be transferred by the Company to Investor Education and Protection
Fund (IEPF), established by the Central Government and there provisions of Section 125 of the Companies Act, 2013.
During the year, no amount was due for transfer to IEPF.

5. DEPOSITORY SYSTEM

Your Company's equity shares are available for dematerialization through National Securities Depository Limited and
Central Depository Services (India) Limited. As on March 31, 2024, 88.00% of the equity shares of the Company were
heldin dematerializedform.

6. CHANGESIN THE NATURE OFBUSINESS

There has been no change in thenature of the business of the Company during theFinancial Year 2023-2024

7. MATERIAL CHANGES AND COMMITMENTS

There werenomaterial changes and commitments that occurred subsequent to the end of the financial year till the date of
this report, which affects the financial position of the Company.

8. CHANGE IN SHARE CAPITAL

There is no change in share capital structure ofthe Company during the financial Year 2023-2024

9. FIXED DEPOSITS

The company has not accepted any deposits from the public to which the directives issued by the Reserve Bank of India
and the provisions of Section 73 to 76 ofthe Companies Act, 2013 and other relevant provisions ofthe Companies Act,
2013 and the rules framed there under apply

10. HUMANRESOURCESDEVELOPMENT

Many initiatives have been taken to support business through organizational efficiently, process change support and
various employee engagement programs which has helped the Organization to achieve higher productivity level. A
significant effort has also been undertaken to develop leadership as well as functional capacities in order to meet future
talent requirement.

The Company's HR process such as hiring and on-boarding, fair transparent on line performance evaluation and talent
management process, state-of-the-art workmen development process and market assigned policies have been seen as
benchmark practice in the Industry. The Employees are encouraged to express their views and are empowered to work
independently. TheEmployees are given the opportunity to learn through various small project which make them look at
initiatives from different perspectives and thus provide them with the platform to become result oriented. The
Management of the Company enjoy cordial relation with its employees at all levels. The Board of Directors wish to place
its highest appreciation for the contribution made by all the employees in achieving growth of the Company.

11. SUBSIDIARY COMPANIES

The Company does not have any Subsidiary Company.

12. CORPORATE GOVERNANCE REPORT

The Company is committed to maintaining the highest standards of Corporate Governance and adhering to the corporate
governance requirements as set out by Securities and Exchange Board of India. The report on Corporate Governance for
the financial year ended March 31, 2024, as per regulation 34(3) read with Schedule V oftheSEBI(Listing Obligations
and Disclosure Requirements) Regulations, 2015 forms apart of this Annual Report. The requisite Certificate from the
Statutory Auditors of the Company confirming compliance with the conditions of Corporate Governance is annexed to
this Report. Although this is not applicable to company

13. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

A detailed review of operations, performance and future outlook of the Company is covered under Ann ex ure A which
forms part of this report.

14. DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the requirement of Section 134(5) the Act, and based on the representations received from the management,
the directors hereby confirm that:

i. In the preparation of the annual accounts for the financial year ended March 31, 2024, the applicable
accounting standards have been followed along with proper explanation relating tomaterial departures.

ii. They have selected such accounting policies and applied them consistently and made judgments and estimates
that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31,
2 024 and of the profit of the Company for the year ended on March 31,2 024.

iii. They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance
with the provisions of the Companies Act and rules made thereunder, as amended, for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities.

iv. They have prepared the annual accounts for financial year ended March 31,2 024 on a'going concern'basis.

v. They have laid down internal financial controls to be followed by the Company and that such internal financial
controls are ad equate and have been opera ting efficiently.

vi. They have devised proper systems to ensure compliance with provisions of all applicable laws and that such
systems were adequate and operating effectively.

15. AUDITORS

STATUTORY AUDITORS

The auditor i.eM/s. B Sreenivasa & Co., Chartered Accountants (Firm Registration No. 009287S ) were last appointed
by theMembers in theAnnual General Meeting held on 27 th September, 2022 tohold the office of statutory auditors for a
term of5 years.

For Financial Year 2023-24, there is no adverse remark or qualification in the Statutory Auditor's Report as annexed. The
Auditors have reported that there is no fraud on or by the Company noticed or reported during the year.

SECRETARIAL AUDITOR

As required under Section 204 of the Companies Act, 2013 and Rules thereunder, the Board appointed Mr. Deepak
Sadhu, a firm of Company Secretaries in practice to undertake the Secretarial Audit of the Company. The Secretarial
Audit Report of the Company for theFinancial Year 2023-24 is annexed to this Report.

16. AUDITOR’S AND SECRETARIAL AUDITOR’S RE PORT

Thereport of the Statutory Audi tors and Secretarial Audi tor alongwith notes to Schedules is enclosed to this Report. The
observations made in the Auditors' Report are self-explanatory and therefore do not call for any further comments.

17. FRAUD REPORTING:

There have been no instances of fraud reported by the Auditors under Section 143(12) of the Companies Act and Rules
framed thereunder either to the Company or to the Central Government.

18. BOARD’S RESPONSE ON THE REMARKS MADE BY STATUTORY AUDITORS AND
SECRETARIAL AUDITORS

There were no qualifications, reservations and adverse remarks made by the statutory auditors in their Audit Report and
by the Company Secretary in practice in their Secretarial Audit report.

19. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO

The particulars as prescribed under Rule 8(3) of the Companies (Accounts) Rules, 2014, are set out in an Annexure-1 to
this Report.

2 0. ANNUAL RETURN

In compliance with the provisions of section 134 (3)(a) of Companies Act, 2013 , the extract of Annual Return of the
company as per Sub-Section (3) of Section 92 of the act is available on the company website of the company
www.kmfbuilders.com

21. DEPOSIT FROM PUBLIC

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on
deposits from public was outstanding as on the date of the balance sheet.

22. DETAILS OFDIRECTORSORKMP’S APPOINTMENT ORRESIGNATIONDURING THE YEAR

There is ano change in director during the year;

Retirement

Mr. Kavita Chadha, Director, retires by rotation and being eligible, has offered her for re-appointment. The Board
recommends the same for your approval.

The brief resume of the Directors seeking appointment in the forthcoming Annual General Meeting, in Pursuance of
Regulation 36(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed to the
Annual General Meeting Notice.

23. DIRECTORS AND KEYMANAGERIAL PERSONNEL:

In accordance with the Articles of Association of the Company and the provisions of the Section 152(6)(e) of the

Companies Act, Mrs.KavitaChadha(DIN: 03304018) will retire by rotation at the ensuing Annual General Meeting and
being eligible, offered herself for re-appointment.

Mr. Gorve Chadha (DIN: 06407884) - Executive Chairman and Managing Director, Ms. Manisha Chadha - Chief
Financial Officer andMs.PriyankaBehl- Company Secretary & Compliance Officer are the Key Managerial Personnel
of the Company as at the date of this Report. Mr. Chirag Sal aria and Mr. Mani Suresh Babu are Non Executive Directors
ofthe company.

24. DECLARATION BY INDEPENDENT DIRECTORS

The Company has received the necessary declaration from each Independent Director, in accordance with Section
149(7) ofthe Companies Act, 2013, that he met the criteria of independence as laid out in sub-section (6) ofSection 149
of the Companies Act, 2013 and the Regulation 16( 1 )(B) of the SEB1 (Listing Obligations and Disclosure
Requirements) Regulations, 2015.

The Board is of the opinion that the Independent Directors ofthe Company possess requisite qualifications, experience
and expertise in the field of finance, strategy, auditing, tax, risk advisory, financial services and infrastructure and real
estate industry and they hold the highest standards of integrity.

In compliance with the rule 6(1) ofthe Companies (Appointment and Qualification of Directors) Rules, 2014, all the
independent directors have registered themselves with the Indian Institute of Corporate Affairs. Since majority ofthe
independent directors ofthe Company have served as directors or key managerial personnel in listed companies or in an
unlisted public company having a paid-up share capital ofRs. 10 crore or more for aperiod not less than 10 years, they are
not required to undertake the proficiency test as per rule 6(4) of the Companies (Appointment and Qualification of
Directors)Rules, 2014.

CEO /CFO CERTIFICATION:

As required by Regulation 17(8) of SEB1 (Listing Obligations and Disclosure Requirements) Regulations, 2015, The
CEO / CFO certificate for the financial year 2023-24 has been submitted to theBoard and the copy thereof is contained in
Annual Report as Ann ex ure B.

2 5. BO ARD DIVERSITY

A diverse Board enables efficient functioning through differences in perspective and skill, and also fosters differentiated
thought processes at the back of varied industrial and management expertise, gender, knowledge and geographical
background. The Board recognises the importance of a diverse composition and has adopted a Board Diversity Policy
which sets out the approach to diversity.

26. POLICYONDIRECTORS’APPOINTMENTANDREMUNERATION:

Thepolicy ofthe Company on directors' appointment and remuneration including criteria for determining qualifications,
positive attributes, independence of a director and other matters provided under Section 178(3) ofthe Companies Act,is
appendedasAnnexurellltothisReport

2 7. BO ARD EVALUATION

The performance ofthe whole-time Director, KMP and Senior Management Personnel is evaluated at regular intervals
(half yearly/ yearly) by the whole-time Directors/ Managing Director, as applicable. The performance evaluation of
In dependent Directors shall be done by theBoard, excluding the Director being evaluated, basis the contributions made
to the Board deliberations on various matters including business strategy, financial strategy, operations, cost and risk
management, etc., and suggestions given in this regard.

A separatemeeting ofthe indepen dent directors (“Annual ID meeting”) was convened, which reviewed the performance
of theBoard (as a whole), the non-independent directors and the Chairman. Post the Annual ID meeting, the collective
feedback of each of the Independent Directors was discussed by the Chairman of the NRC with the Board's Chairman
covering performance of the Board as a whole; performance of the non-independent directors and performance of the
Board Chairman.

Some of the key criteria for performance evaluation are as follows -
Performance evaluation ofDirectors:

♦ Attendance at Board or Committee meetings

♦ Contribution at Board or C omm i tte e m ee tin gs

♦ Guidance/support to management outsideBoard/Committee meetings

Performance evaluation ofBoard and Committees:

♦ Degree of fulfilment of key responsibilities

♦ Board Structure and composition

♦ Effectiveness ofBoard Processes, information and functioning

♦ Boardcultureanddynamics

♦ QualityofrelationshipbetweenBoardandManagement

♦ Efficacy of communication with external stakeholders

28. MEETINGS OF THE BOARD

A calendar of Meetings is prepared and circulated in advance to the Directors. The Board met seven times during the
financial year, the details of which are given in the Corporate Governance Report which is annexed and forms apart of
this report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013
andtheSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

29. NUMBER OFMEETINGS OF THE BOARD:

The Board met 12 (Twelve) times in the financial year ended April 25,2023, May 30, 2023, June 15, 2023, July 25,2023,
August 14, 2023, August21,2023,October 12,2023 , November 14, 2023, December 15, 2023, January 17, 2024,
February 14,2024 and March 30,2024.

30. COMPOSITION OF AUDIT COMMITTEE

The Audit Committee of the Company comprises of Independent and Executive members. Board Elect Mr. Chirag
Salaria as Chairman and Ms. Manisha Chadha .The Board has accepted all recommendations made by the Audit
Committee during the year.

The composition and other relevant details of other board level committees i.e. Nomination and Remuneration
Committee and Stakeholders Relationship Committee are disclosed separately in the Corporate Governance Report
which is annexed to and forms apart of this Report.

31. CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT

The Directors and members of Senior Management have affirmed compliance with the Code of Conduct for Directors
and Senior Management of the Company. A declaration to this effect has been signed by Mr. Gorve Chadha, Managing
Director and forms part of the Annual Report.

32. PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in
securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the
Company's shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees
while in possession of unpublished price sensitive information in relation to the Company and during the period when
the Trading Window is closed. The Board is responsible for implementation of the Code. All Board Directors and the
designated employees have confirmed compliance with the Code.

33. PARTICULARS OFLOANS, GUARANTEES AND INVESTMENTS

The details of loans, guarantees and investments covered under the provisions of Section 186 of the Companies Act,
2013 are given in the notes to the financial statement and areas follows:

The company has given loan ofRs. 3,96,38,632/- to M/sRGGC Builders Private Limited, the amount of loan are within
the limits prescribed under section 186(2) of the companies act, 2013

34. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

All con tracts/arrangements/transactions entered by the Company during the financial year with related parties were in
the ordinary course of business and on an arm's length basis. During the year, the Company has not entered into any
contract / arrangement / transaction of material nature with any of the related parties which are in conflict with the
interest of the Company. Related party disclosures are given in the notes to the financial statement.

35. SIGNIFICANT AND MATERIAL ORDERS BY THE REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE COMPANY’S GOING CONCERN STATUS AND OPERATIONS IN FUTURE

During the period under review, no significant and material orders passed by the regulators or courts or tribunals
impacting the going concern status and Company's operations in the future.

36. ADEQUACY OFINTERNAL FINANCIAL CONTROL

The Company had laid down guidelines, policies, procedures and structure to enable implementation of appropriate
internal financial controls across the Company. These control processes enable and ensure the orderly and efficient
conduct of company's business, including safeguarding of assets, prevention and detection of frauds and errors, the
accuracy and completeness of the accounting records and timely preparation & disclosure of financial statements.

37. RISKMANAGEMENT

The Risk Management is overseen by the Audit Committee of the Company on a continuous basis. The Committee
oversees Company's process and policies for determining risk tolerance and review management's measurement and
comparison of overall risk tolerance to established levels. Major risks identified by the businesses and functions are
systematically addressed through mitigating actions on a continuous basis.

38. FAMILIARIZATION PROGRAM FOR INDEPENDENT DIRECTORS

The Company has practice of conducting familiarization program of the independent directors as detailed in the
Corporate Go vemanceReport which forms part of the Annual Report.

39. DISCLOSURE ON THE NOMINATION AND REMUNERATION POLICY OF THE COMPANY
PURSUANT TO SECTION 134(3) (e) AND SECTION 178 (3)

The policy of the Company on Director's appointment and remuneration, including criteria for determining
qualifications, independence and other matters as provided under subsection (3) of Section 178 of the Companies Act,
2013 forms part of this Annual Report.

40. VIGIL MECHANISM

The Company has established a vigil mechanism for Directors and employees to report their genuine concerns. For
details, please refer to the Corporate Governance Report attached to this Report.

41. CORPORATE SOCIAL RESPONSIBILITY:

A Corporate Social Responsibility (CSR) Committee has been constituted in accordance with Section 135 of the
Companies Act. This is not applicable on our company.

42. DISCLOSURE UNDER SECTION 23 OFTHE SEXUAL HARASSMENT OFWOMEN ATWORKPLACE
(PREVENTION, PROHIBITION AND REDRESS AL), ACT, 2013

The Company's policy on prevention of sexual harassment of women provides fortheprotection of women employees at
the workplace and for prevention andredressal of such complaints. There were no complaints pending for the redressal
at the beginning of the year andno complaints received during the financial year.

43. PARTICULARS OF EMPLOYEES:

Disclosures with respect to the remuneration of Directors and employees as required under Section 197 of the
Companies Act and Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014. The information required pursuant to Section 197 of the Companies Act read with Rule5(2)&(3) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company is
available for inspection by the Members at registered office of the Company during business hours on working days up
to the date of the ensuing Annual General Meeting. If any Member is interested in obtaining a copy thereof, such Member
may write to the Company Secretary, whereupon a copy would be sent.

44. PARTICULARS OF REMUNERATION

The information required under Section 197(12) of the Act and the Rules made there-under, in respect of employees of
the Company, is follows:-

(a) ratio of the remuneration of each director to the median remuneration of the employees of the company

for the financial year;

(Amount in Rs.)

(b) the percentage increase in remuneration of each Director, Chief Executive Officer, Chief Financial
Officer, Company Secretary or Manager, if any, in the financial year; There is no increase in the remuneration of
Company Secretary.

(c) The percentage increase in the median remuneration of employees in the financial year - There was
average in themedian remuneration of employees in the financial year.

(d) The number of permanent employees on the rolls of company: There were 10 permanent employees on the
rolls of Company as on March 31,2024.

(e) The explanation on the relationship between average increase in remuneration and company

performance;-Thereisaverageincreasein theremuneration of employees in the last financial year.

(f) comparison of the remuneration of the Key Managerial Personnel against the performance of the
company;

(g) variations in the market capitalisation of the Company, price earnings ratio as at the closing date of the
current financial year and previous financial year and percentage increase over decrease in the market
quotations of the shares of the Company in comparison to the rate at which the Company came out with the last
public offer in case of listed companies, and in case of unlisted companies, the variations in the net worth of the
Company as at the close of the current financial year and previous financial year; -

(h) average percentile increase already made in the salaries of employees other than the managerial
personnel in the last financial year and its comparison with the percentile increase in the managerial
remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the
managerial remuneration -

There is no average increase in salaries of employees in 2023-24.

Comparison of each remuneration of the Key Managerial Personnel against the performance of the Company

(I) The key parameters for any variable component of remuneration availed by the directors;

There is no variable component in the remuneration availed by the Directors.

(k) The ratio of the remuneration of the highest paid director to that of the employees who are not directors but
receive remuneration in excess of the highest paid director during the year;

MariagingDirectoristhehighestpaidDirector.NoemployeereceivedremunerationhigherthantheManagingDirector.

(l) Affirmation that the remuneration is as per the remuneration policy of the Company

It is hereby affirmed that the remuneration paid during the Financial Year ended 31st March, 2024 is as per the
Remuneration Policy of the Company.

45. PECUNIARYRELATIONSHIP OR TRANSACTIONS OF NON-EXECUTIVE DIRECTORS

During the year, the Non-Executive Directors of the Company had no pecuniary relationship or transactions with the
Company.

46. LISTING

TheEquity shares of your company were listed at Bombay Stock Exchange Limited and Delhi Stock Exchange Limited.
However, the Delhi Stock Exchange Limited has been de-recognized as a Stock Exchange during the year, so, presently
the Company is listed on Bombay Stock Exchange Limited only. The Company has paid listing fees to the Bombay
Stock Exchange for the year 2023-2024.

47. STATUTORYDISCLOSURES

NoneoftheDirectorsofyour Company are disqualified as per provisions of Section 164(2) of the Companies Act, 2013.
Your Directors have made necessary disclosures, as required under various provisions of the Companies Act, 2013 and
SEBI (LODR) Regulations 2015.

48. APPRECIATION

Yours Directors wish to extend their appreciation to business associates for their support and contribution during the
year. Yours Directors would also like to thank the employees, shareholders, customers, suppliers, alliance partners and
bankers for the continued support given by them to the Company and their confidence reposed in the management.

The Directors also acknowledge the hard work, dedication and commitment of the employees.

By order of the Board of Directors

Place: Delhi GorveChadha

Date:31/08/2024 (Chairman & Managing Director)

DIN:06407884

Add: - U-2 Green Park Main Delhi-110016