12. Provisions, contingent liabilities and contingent assets

Provisions are recognized only when there is a present obligation, as a result of past events, and when a
reliable estimate of the amount of obligation can be made 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. Contingent liability is
disclosed for:

• Possible obligations which will be confirmed only by future events not wholly within the control of
the Company or

• Present obligations arising from past events where it is not probable that an outflow of resources
will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot
be made.

Contingent assets are neither recognized nor disclosed. However, when realization of income is virtually
certain, related asset is recognized.

13. Borrowing Costs

Borrowing costs net of any investment income from the temporary investment of related borrowings that
are attributable to the acquisition, construction or production of a qualifying asset are capitalized as part
of cost of such asset till such time the asset is ready for its intended use or sale. A qualifying asset is an
asset that necessarily requires a substantial period of time to get ready for its intended use or sale. All
other borrowing costs are recognized in profit or loss in the period in which they are incurred.

14. Employee Benefits (Accounting for Retirement Benefits in the Financial Statement of Employers):

Accounting for employee benefits has been made and provided in consistent with applicable Ind AS.

15. Segment Reporting: The Company's operations comprise of only construction of the shops, offices and
residential flats and the activities incidental thereto, more or less there remains one reportable business
segment as required to be disclosed under Ind AS- 108. Separate segment reporting is not applicable in
the case of the company.

16. Related Party Disclosures: Requisite approvals from the Board / Members will be obtained for
applicable related party transaction for applicable transactions by enclosing the statement of the same.

17. Regrouping: Previous year figures have been regrouped wherever necessary.

For: Bansilal Shah & Company For & On behalf of the Board of Directors of

Chartered Accountant Veer Global Infraconstruction Limited

(FRN 00384W)

Sd/- Sd/- Sd/-

Dhruv Shah (Partner) Vijaybhai Vagjibhai Priyank Chandrakant

Membership No.: 223609 Bhanshali Parikh

Managing Director CFO & Director

UDIN: 25223609BMIBQW7892 DIN: 05122207 DIN: 06615205

Date: 30/05/2025 | Place: Mumbai