(c) The Company's investment property under construction comprises various commercial and recreational properties in India.

(d) Based on the company's intentions and business plans, a portion of the residential property under development in Mumbai was designated for the company's own use upon completion, rather than for sale. Consequently, the company reclassified this portion from inventories to Property, Plant and Equipment (CWIP) in the previous year. This property has been capitalised during the current year.

(e) The Company has no restriction on the realisability of its investment property under construction.

(f) Though the Company measures investment property under construction using cost based measurement, the fair value of investment property under development is based on valuation performed by an accredited independent valuer who has relevant valuation experience for similar office properties and is a registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017. The main inputs used are location and locality, facilities and amenities, quality of construction, residual life of building, business potential, supply and demand, local nearby enquiry, market feedback of investigation and Ready Reckoner published by the Government.

(g) Fair valuation of an investment property under construction which is under construction is based on Cost method which is H 38.38 Crore (Previous Year: H 112.32 Crore). The fair value measurement is categorised in level 3 fair value hierarchy.

(h) Refer Note 50 for disclosure of Capital Commitments for acquisition of property, plant and equipment and investment property.

(a) The Company's investment property comprises various commercial and retail properties in India.

(b) The Company has no restriction on the realisability of its investment property and no contractual obligations to purchase, construct or develop investment properties or for repairs, maintenance and enhancements.

(c) Though the Company measures investment property using cost based measurement, the fair value of investment property is based on valuation performed by an accredited independent valuer who has relevant valuation experience for similar office properties and is a registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017. The main inputs used are location and locality, facilities and amenities, quality of construction, residual life of building, business potential, supply and demand, local nearby enquiry, market feedback of investigation and Ready Reckoner published by the Government.

(d) Fair valuation of Retail Properties is based on Sales Comparison Method which is H 30.58 Crore (Previous Year: H 30.01 Crore) and Commercial Properties is based on Sales Comparison Method, which is H 152.39 Crore (Previous Year: H 30.25 Crore). The fair value measurement is categorised in level 3 fair value hierarchy.

(e) Gross block of Building includes H 3.55 Crore which is on the name of Godrej Vikhroli Properties LLP (now converted and merged with the company). The company is in process of transfer of title from Godrej Vikhroli Properties LLP to the name of the company.

d) The Company has recognised deferred tax asset to the extent that the same will be recoverable using the estimated future taxable income based on the approved business plans and budgets of the Company. The Company is expected to generate taxable income in upcoming years.

e) Pursuant to the Finance Bill, 2024 as passed by the Lok Sabha on August 7, 2024, the applicable Long Term Capital Gains Tax on capital assets sold after July 23, 2024 has been amended to 14.30% from 22.88% (including applicable surcharge and cess). Consequently, the Company has measured its relevant deferred tax assets/liabilities.

f) Deferred tax assets amounting to H 23.97 Crore (Previous Year: H 24.28 Crore) have not been recognised in respect of expected credit loss on investments and other assets due to uncertainty as at the current date with respect to future realisation.

g) As per the Company's assessment, there are no material income tax uncertainties over income tax treatments during the current and previous financial year.

(a) Includes

(i) Balances with Banks in current accounts includes H Nil (Previous Year: H Nil) is on account of earmarked balance for unclaimed dividend.

(ii) Balances with Banks in current accounts includes H 2.24 Crore (Previous Year: H 0.88 Crore) received from flat buyers towards maintenance charges.

(b) Includes

(i) H 40.18 Crore (Previous Year: H 43.82 Crore) received from flat buyers and held in trust on their behalf in a corpus fund and towards maintenance charges.

g) Rights, preferences and restrictions attached to Equity shares

The Company has only one class of equity shares having a par value of H 5/- per share. Each holder of equity shares is entitled to one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the Shareholders in the Annual General Meeting except in case of interim dividend. In the event of liquidation, the shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

*Pursuant to Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the Company had received approval from the Stock Exchanges i.e., BSE Limited ("BSE”) and National Stock Exchange of India Limited ("NSE”) vide letters dated October 22, 2024 for reclassification of Mr. Jamshyd Naoroji Godrej, Mrs. Pheroza Jamshyd Godrej, Ms. Raika Jamshyd Godrej, Mr. Navroze Jamshyd Godrej, Ms. Smita Godrej Crishna, Mr. Vijay Mohan Crishna, Ms. Nyrika Holkar, Ms. Freyan Crishna Bieri, Mr. Rishad Kaikhushru Naoroji, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of the Raika Godrej Family Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of Navroze Lineage Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of Raika Lineage Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of JNG Family Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of PJG Family Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of NJG Family Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of RJG Family Trust), Mrs. Smita Godrej Crishna, Ms. Freyan Crishna Bieri, Ms. Nyrika Holkar (Trustees of FVC Family Trust), Mrs. Smita Godrej Crishna, Ms. Freyan Crishna Bieri, Ms. Nyrika Holkar (Trustees of NVC Family Trust), Mrs. Smita Godrej Crishna, Ms. Freyan Crishna Bieri & Ms. Nyrika Holkar (Trustees of NVC Children Trust), Mrs. Smita Godrej Crishna, Mr. Vijay Mohan Crishna, Ms. Freyan Crishna Bieri & Ms. Nyrika Holkar (Trustees of SGC Family Trust), Mrs. Smita Godrej Crishna, Mr. Vijay Mohan Crishna, Ms. Freyan Crishna Bieri & Ms. Nyrika Holkar (Trustees of VMC Family Trust), Mrs. Smita Godrej Crishna, Ms. Freyan Crishna Bieri & Ms. Nyrika Holkar (Trustees of FVC Children Trust), Mr. Rishad Kaikhushru Naoroji & Others (Partners of RKN Enterprises), Godrej And Boyce Manufacturing Company Limited, Godrej Infotech Limited, Godrej Infotech Americas Inc., Godrej Infotech (Singapore) Pte. Ltd., LVD Godrej Infotech N.V., Godrej (Singapore) Pte. Ltd., JT Dragon Pte. Ltd., Godrej UEP (Singapore) Pte. Ltd., Godrej (Vietnam) Co. Ltd., Godrej UEP Private Limited, Veromatic International B. V., Godrej Americas Inc., Sheetak Inc., Godrej Koerber Supply Chain Limited, Urban Electric Power Inc., Godrej & Khimji (Middle East) LLC, Future Factory LLP, Godrej Holdings Private Limited, Parakh Agencies Private Limited, Godrej Enterprises Private Limited, Shakti Sustainable Energy Foundation, JNG Enterprise LLP, SVC Enterprise LLP from "Promoter” category to the "Public” category shareholder of the Company.

The shareholding of the promoter and promoter group of the Company has been disclosed accordingly.

(a) The Working Capital Loan (WCL) of H 1,350.00 Crore from SBI is secured by a primary first charge by way of hypothecation of stock and receivables (Present and future) of the Company and by a collateral of Mortgage of Immovable property (including all fit-outs therein) of the Company at Unit No 5C, on the 5th Floor in Godrej One (along with car parking spaces) at Pirojshanagar, Vikhroli East, Mumbai and Second Charge by way of hypothecation of Other Current Assets (Present and Future) of the Company.

Previous Year : The Working Capital Loan (WCL) of H 1,350.00 Crore from SBI is secured by a primary first charge by way of hypothecation of stock and receivables (Present and future) of the Company and by a collateral of Mortgage of Immovable property (including all fit-outs therein) of the Company at Unit No 5C, on the 5th Floor in Godrej One (along with car parking spaces) at Pirojshanagar, Vikhroli East, Mumbai and Second Charge by way of hypothecation of Other Current Assets (Present and Future) of the Company.

The WCL of H 850.00 Crore from SBI is secured by a collateral of Mortgage of Immovable property (including all fit-outs therein) of the Company at Unit No 5C, on the 5th Floor in Godrej One (along with car parking spaces) at Pirojshanagar, Vikhroli East, Mumbai and the First pari passu charge by way of hypothecation of Other Current Assets (Present and future) of the Company.

Previous Year: The WCL of H 850.00 Crore from SBI is secured by a collateral of Mortgage of Immovable property (including all fit-outs therein) of the Company at Unit No 5C, on the 5th Floor in Godrej One (along with car parking spaces) at Pirojshanagar, Vikhroli East, Mumbai and the First pari passu charge by way of hypothecation of Other Current Assets (Present and future) of the Company.

The WCL amount includes interest accrued as on 31st March 2025 of H 12.74 Crore (Previous year H 9.33 Crore).

(b) The Cash Credit (CC) of H 179.37 Crore from SBI is secured by a primary first charge by way of hypothecation of stock and receivables (Present and future) of the Company and by a collateral of Mortgage of Immovable property (including all fit-outs therein) of the Company at Unit No 5C, on the 5th Floor in Godrej One (along with car parking spaces) at Pirojshanagar, Vikhroli East, Mumbai and Second Charge by way of hypothecation of Other Current Assets (Present and Future) of the Company.

Previous Year : The Cash Credit (CC) of H 139.30 Crore from SBI is secured by a primary first charge by way of hypothecation of stock and receivables (Present and future) of the Company and by a collateral of Mortgage of Immovable property (including all fit-outs therein) of the Company at Unit No 5C, on the 5th Floor in Godrej One (along with car parking spaces) at Pirojshanagar, Vikhroli East, Mumbai and Second Charge by way of hypothecation of Other Current Assets (Present and Future) of the Company.

The Cash Credit (CC) of H 141.46 Crore from SBI is secured by a collateral of Mortgage of Immovable property (including all fit-outs therein) of the Company at Unit No 5C, on the 5th Floor in Godrej One (along with car parking spaces) at Pirojshanagar, Vikhroli East, Mumbai and the First pari passu charge by way of hypothecation of Other Current Assets (Present and future) of the Company.

Previous Year: The Cash Credit (CC) of H 111.54 Crore from SBI is secured by a collateral of Mortgage of Immovable property (including all fit-outs therein) of the Company at Unit No 5C, on the 5th Floor in Godrej One (along with car parking spaces) at Pirojshanagar, Vikhroli East, Mumbai and the First pari passu charge by way of hypothecation of Other Current Assets (Present and future) of the Company.

(c) Overdraft facilities H 1.12 Crore (Previous Year H 13.80 Crore) is an unsecured facility and is repayable on demand. The Overdraft facilities amount includes interest accrued as on 31st March 2025 of H 0.49 Crore (Previous year NIL).

(d) Other Loans includes Unsecured Term Loan, Unsecured Working Capital Loans and Commercial papers. Term Loan and Working Capital Loans are repayable within One year and Commercial papers are repayable within 85 to 91 days.

(e) Quarterly returns, statements of current assets or certificates as filed by the Company with the bank, as applicable, are in agreement with the books of accounts.

b) Defined Benefit Plans:

Contribution to Gratuity Fund (Non-Funded)

Gratuity is payable to all eligible employees on death or on separation/ termination in terms of the provisions of the Payment of Gratuity Act or as per the Company's policy whichever is beneficial to the employees.

The estimates of future salary increases, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

At March 31, 2025, the weighted-average duration of the defined benefit obligation is 5 years ( March 31, 2024: 4 years)

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the balance sheet. There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior year.

Compensated absences

Compensated absences for employee benefits of H 3.15 Crore (Previous Year: H 1.56 Crore) expected to be paid in exchange for the services and other benefits under long-term retention scheme of H 5.02 Crore (Previous year: H 5.68 Crore) recognised as an expense during the year. The Company carries a balance of H 3.28 Crore (Previous year: H 1.84 Crore) towards compensated expenses.

b) Measurement of Fair Value

(i) The fair values of investments in mutual fund units is based on the net asset value ('NAV') as stated by the issuers of these mutual fund units in the published statements as at Balance Sheet date. NAV represents the price at which the issuer will issue further units of mutual fund and the price at which issuers will redeem such units from the investors.

(ii) The Company uses the Discounted Cash Flow valuation technique (in relation to financial assets measured at amortised cost and fair value through profit or loss) which involves determination of present value of expected receipt/ payment discounted using appropriate discounting rates. The fair value so determined for financial asset measured at fair value through profit and loss are classified as Level 2.

(iii) During the year, pursuant to occurence of certain events ( as per condition set out in the Share Purchase Agreement), the Company lost its joint control over an entity resulting same being classified as level 3 (having unobservable inputs, per method explained below). Earlier, this investment had certain drag along rights, whereby restricting the change in the % of shareholding. This resulted the instrument to be accounted as a fair value through profit and loss (FVTPL) which was equivalent to the cost of the said shares and was disclosed as level 2 (having indirect observable data inputs in terms of the investment value of unrelated third-party joint venturers).

The Company uses the Discounted Cash Flow valuation technique (in relation to financial assets measured at amortised cost and fair value through profit or loss) which involves determination of present value of expected receipt/ payment discounted using weighted average cost of capital of 11%-14% per annum, capitalization rate of 7%-9% per annum and escalation rate of 4%-5% per annum. The fair value so determined for financial asset measured at fair value through profit and loss are classified as Level 3.

The estimated fair value would increase (Decrease) if the estimated capitalization rate is lower (higher), weighted average cost of capital rate is lower (higher) and escalation rate is Increase (decrease).

(iv) The Company uses the Discounted Cash Flow valuation technique (in relation to Preference Shares measured at fair value through profit or loss) which involves determination of present value of expected receipt/ payment discounted using appropriate discounting rates. The fair value so determined for Preference Shares measured at fair value through profit and loss are classified as Level 3.

(v) The Company uses the Discounted Cash Flow valuation technique (in relation to financial liabilities measured at amortised cost) which involves determination of the present value of expected payments, discounted using bank rate.

(i) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company's receivables from customers, investments in debt securities, loans given to related parties and project deposits.

The carrying amount of financial assets represents the maximum credit exposure.

Trade Receivables (including Unbilled receivables)

Customer credit risk is managed by requiring customers to pay advances through progress billings before transfer of ownership, therefore substantially eliminating the Company's credit risk in this respect.

The Company's credit risk with regard to trade receivable has a high degree of risk diversification, due to the large number of projects of varying sizes and types with numerous different customer categories in a large number of geographical markets.

As per simplified approach, the Company makes provision of expected credit losses on trade receivables to mitigate the risk of default payments and makes appropriate provision at each reporting date wherever outstanding is for longer period and involves higher risk.

c) Financial risk management

The Company has exposure to the following risks arising from financial instruments:

(i) Credit Risk

(ii) Liquidity Risk

(iii) Market Risk.

Risk Management Framework

The Company's Board of Directors have overall responsibility for the establishment and oversight of the Company's risk management framework. The Board of Directors have established the Risk Management Committee, which is responsible for developing and monitoring the Company's risk management policies. The committee reports regularly to the Board of Directors on its activities.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company's activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Audit Committee oversees how management monitors compliance with the Company's risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The Audit Committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and adhoc reviews of risk management controls and procedures, the results of which are reported to the Audit Committee.

Investment in Securities, Loans to Related Parties, Project Deposits and Other Financial Assets

The Company has investments in equity instruments, compulsorily convertible debentures / optionally convertible debentures, preference shares, loans to related parties, project deposits and other financial assets. The settlement of such instruments is linked to the completion of the respective underlying projects. The movement in the provision for expected credit loss due to lifetime expected credit loss during the year are as follows:

The Company has recorded /(reversed) provision / expected credit loss on investment in debt and equity instruments of H (1.22 Crore) (Previous Year: H (32.39 Crore)) and other current financial assets of H 21.37 Crore (Previous Year: H (0.56 Crore)).

As at March 31, 2025, the Company has secured project deposits of H 5.63 Crore (Previous Year: H 6.11 Crore) and unsecured loans given to related parties of H 14.47 Crore (Previous Year: H 14.47 Crore), which have been considered as doubtful by the company. The company has fully provided such doubtful project deposits and unsecured loans as at March 31, 2025. The company has provided such doubtful project deposits and unsecured loans in the previous year. All the loans other than mentioned above are considered to have low credit risk as the borrower have strong capacity to meet its cash flow obligations in the near team. The company does not have any Loans for which credit risk has increased significantly in the current and previous year.

The Company' s policy is to provide financial guarantees only for subsidiaries' liabilities. As at 31 March 2025 and 2024, the Company has issued guarantees to certain banks / lenders in respect of credit facilities granted to certain subsidairies. (Refer note 50 (ii)).

Cash and Bank balances

Credit risk from cash and bank balances is managed by the Company's treasury department in accordance with the Company's policy.

(ii) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.

Management monitors rolling forecasts of the Company's liquidity position on the basis of expected cash flows. This monitoring includes financial ratios and takes into account the accessibility of cash and cash equivalents.

The Company has access to funds from capital and debt markets through loan from banks, commercial papers and other debt & equity instruments. The Company invests its surplus funds in bank fixed deposits and debt based mutual funds.

The Company has sufficient current assets comprising of Trade Receivables, Cash & Cash Equivalents, Investment in Mutual Funds, Other Bank Balances (other than restricted balances), Loans, Inventories and Other Current Financial Assets to manage the liquidity risk, if any in relation to current financial liabilities.

(iii) Market Risk

Market risk is the risk that changes in market prices such as foreign exchange rate and interest rates will affect the Company's income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

a) Currency Risk

Currency risk is not material, as the Company's primary business activities are within India and does not have significant exposure in foreign currency.

b) Interest Rate Risk

I nterest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The management is responsible for the monitoring of the Company's interest rate position. Various variables are considered by the management in structuring the Company's borrowings to achieve a reasonable, competitive cost of funding.

Fair value sensitivity analysis for fixed rate instruments

The Company does not account for any fixed rate financial assets and liabilities at fair value through profit or loss. Therefore, a change in interest rates at the reporting date would not affect profit or loss.

Cash flow sensitivity analysis for variable-rate instruments

A reasonably possible change of 100 basis points in interest rate would have resulted in variation in the interest expense for the Company by the amounts indicated in the table below. Given that the Company capitalises interest to the cost of inventory to the extent permissible, the amounts indicated below may have an impact on reported profits over the life cycle of projects to which such interest is capitalised. This calculation also assumes that the change occurs at the balance sheet date and has been calculated based on risk exposures outstanding as at that date. The year end balances are not necessarily representative of the average debt outstanding during the year.

The Company does not have any additional impact on equity other than the impact on retained earnings.

41. Capital Management

The Company's policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business.

The Board of Directors seek to maintain a balance between the higher returns that might be possible with higher levels of borrowings and the advantages by a sound capital position.

The Company monitors capital using a ratio of 'Net Debt to Equity'. For this purpose, net debt is defined as total borrowings (including interest accrued) less cash and cash equivalents, other bank balances, deposits and other current investments.

43.Leases

a) The company has recognised 8.73 Crore (Previous Year : H 8.08 Crore) towards minimum lease payments for short-term leases and H 0.37 crore (Previous Year : 0.25 Crore) for low-value assets accounted as per paragraph 6 of IND AS 116 and H 1.81 Crore (Previous Year: H 3.72 Crore) as minimum lease receipt in the Statement of Profit and Loss.

b) As a lessor

The Company's significant leasing arrangements are in respect of operating leases for Commercial premises. All leases are classified as operating leases because they do not transfer substantially of all the risk and reward incidental to the ownership of the asset. Lease income from operating leases is recognised on a straight-line basis over the period of lease. The future minimum lease receivables of non-cancellable operating leases are as under:

b) The weighted average exercise price of the options outstanding as at March 31, 2025 is H 5 per share (Previous Year: H 5 per share) and the weighted average remaining contractual life of the options outstanding as at March 31, 2025 is 0.79 years (Previous Year: 0.96 years)

45. Revenue from Contracts with Customers

(a) The amount of H 996.67 Crore (Previous Year: H 201.48 Crore) recognised in contract liabilities (advances received against sale of flats/ units) at the beginning of the year has been recognised as revenue during the year ended March 31, 2025.

(b) Contract assets (unbilled revenue) primarily relate to the Company's right to consideration for work completed but not billed at the reporting date as the billing is conditional upon completion of another milestone. Contract liabilitues (advances received against sale of flats/ units) primarlity relate to the advance consideration received from customers for construction of flats / units for which revenue is recognsied over time.

Sale of Real Estate Developments/Land

All the Contracts entered with the customers consists of a single performance obligation thereby the consideration allocated to the performance obligation is based on standalone selling prices.

Revenue is recognised upon transfer of control of residential and commercial units to customers for an amount that reflects the consideration which the Company expects to receive in exchange for those units. The trigger for revenue recognition is normally completion of the project or receipt of approvals on completion from relevant authorities or intimation to the customer of completion, post which the contract becomes non-cancellable by the parties.

The revenue is measured at the transaction price agreed under the contract. In certain cases, the Company has contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Company adjusts the transaction price for the effects of a significant financing component.

Any costs incurred that do not contribute to satisfying performance obligations are excluded from the Company's input methods of revenue recognition as the amounts are not reflective of our transferring control of residential and commercial units to the customer. Significant judgment is required to evaluate assumptions related to the amount of net contract revenues, including the impact of any performance incentives, liquidated damages, and other forms of variable consideration.

If estimated incremental costs on any contract, are greater than the net contract revenues, the Company recognises the entire estimated loss in the period the loss becomes known.

Variations in contract work, claims, incentive payments are included in contract revenue to the extent that may have been agreed with the customer and are capable of being reliably measured.

The Company recognises revenue from Operations and Maintenance services using the time-elapsed measure of progress i.e input method on a straight line basis.

The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied (or partially unsatisfied) as at March 31, 2025 is H 29,462.09 Crore (Previous Year: H 16,521.82 Crore), of which H 2,974.57 Crore (Previous Year: H 2,702.57 Crore), which will be recognised as revenue over a period of 1-2 years and H 26,220.56 Crore (Previous Year: H 13,819.25 Crore) which will be recognised over a period of 3-5 years.

Sale of services

Revenue is measured at the fair value of the consideration received or receivable, considering contractually defined terms of payment specified in a contract with th a customer. The Company recognises revenue at a point of time when it transfers control over a service to the customer to the extent that is probable that the economic benefits will flow to the Company and the revenue can be reliable measured, regardless of when the payment is due.

Invoices for sales of services (development management services) are issued on a monthly/quarterely basis based on the progress in construction / collection / billings in the underlying entity's project and are usually payable within 30 days.

filed a Writ Petition with the High Court of Punjab & Haryana requesting for an interim stay and quashing of the order dated 24.07.2024.

The Company has assessed that it is only possible, but not probale, that outflow of economic resources will be required.

(b) The Hon'ble Supreme Court of India ("SC") by its judgement dated February 28, 2019, in the case of RPFC, West Bengal v/s Vivekananda Vidyamandir and others, clarified the principles based on which allowances paid to the employees should be identified for inclusion in basic wages for the purposes of computation of Provident Fund contribution. Subsequently, a review petition against this decision was filed and the SC reiterated its decision given in the above referred judgment.

In view of the management, the liability for the period from date of the SC judgement to March 31, 2019 is not significant and has been provided in the standalone financial statements. Further, the impact for the past period, if any, is not ascertainable and consequently no effect has been given in the accounts.

(c) On 24 July 2024, the Estate Officer, Union Territory of Chandigarh, issued an order revoking the building plan (issued on 31 August 2009) and occupancy certificate (issued on 9 June 2015) for commercial building project Godrej Eternia at Chandigarh. The principal reason for revocation is attributable to the fact that the Holding Company (as developer) failed to obtain clearance from the Standing Committee of National Board for Wildlife (SCNBW). The Company strongly believe that the order was passed based on a wrong premise and a misunderstanding of the facts. The Company has

(i) The Company enters into construction contracts for Civil, Elevator, External Development, MEP work etc. with its vendors. The total amount payable under such contracts will be based on actual measurements and negotiated rates, which are determinable as and when the work under the said contracts are completed.

(ii) The Company has entered into development agreements with owners of land for development of projects. Under the agreements the Company is required to pay certain payments/ deposits to the owners of the land and share in built up area/ revenue from such developments in exchange of undivided share in land as stipulated under the agreements.

(iii) The Company will arrange funds / subscribe to further capital to support continuing operations in certain subsidiaries and joint ventures (jointly with the shareholders / Partners of the respective joint ventures), if required, based upon operation of such entities. The Company expects the said subsidiaries and joint ventures to meet its obligations and no liability on this account is anticipated.

52. Foreign Exchange Difference

The amount of exchange difference included in the Standalone Statement of Profit and Loss, is H 0.09 Crore (Net Gain) (Previous Year: H 0.05 Crore (Net Loss)).

53. (a) During the year, Company has accounted for net reversal of Impairment of investments of H 1.22 Crore (Previous

Year: 35.13 Crore) and H 2.24 Crore (Previous Year: 20 Crore) related to excess provision written back upon completion of project.

(b) Other Expenses includes provision for expected credit loss (net) on investments and other assets of H 21.37 Crore (Previous Year: 11.23 Crore) and financial assets written off H 5.02 Crore (Previous Year: H 24.49 Crore).

54. Corporate Social Responsibility

The Company has spent H 14.32 Crore (Previous Year: H 10.84 Crore) during the year as per the provisions of Section 135 of the Companies Act, 2013 towards Corporate Social Responsibility (CSR) activities companyed under 'Other Expenses'.

(a) Gross amount required to be spent by the Company during the year H 14.32 Crore. (Previous Year: H 10.84 Crore)

(b) Amount approved by the Board to be spent during the year H 14.32 Crore. (Previous Year: H 10.84 Crore)

55. Utilisation of Proceeds from Issue of Shares

Qualified Institutional Placement

During the FY 2024-25, the Company raised a sum of H 6,000.00 Crore by allotting 2,31,21,387 equity shares on a Qualified Institutional Placement basis.

a) The above investment/loan is in compliance with the relevant provisions of the Companies Act, 2013 and the transactions are not violative of the Prevention of Money-Laundering Act, 2002 (15 of 2003)

b) The balance money in H 0.00 Crore will be utilized for general corporate purposes.

c) The Company has not received any funds from any persons or entities, including foreign entities (''Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Funding Party or provide any guarantee, security or the like from or on behalf of the Ultimate Beneficiaries.

57. Segment Reporting

A. Basis of Segmentation

Factors used to identify the entity's reportable segments, including the basis of organisation

For management purposes, the Company has only one reportable segment namely, Development of real estate property (developing and selling residential and commercial properties). The Managing Director of the Company acts as the Chief Operating Decision Maker ("CODM"). The CODM evaluates the Company's performance and allocates resources based on an analysis of various performance indicators viz. Profit after tax. (Refer Note 30).

B. Geographical Information

The geographic information analyses the Company's revenue and Non-Current Assets other than financial instruments, deferred tax assets, post-employment benefit assets by the Company's country of domicile and other countries. As the Company is engaged in Development of Real Estate property in India, it has only one reportable geographical segment.

C. Information about major customers

There is no single customer from whom revenue for the year ended March 31, 2025 and March 31, 2024 constituted more than 10% of the total revenue of the Company.

58. The Write-down/(Reversal) of inventories to net realisable value during the year amounted to 9.55 Crore (Previous Year: Reversal of H (19.00) Crore) (Refer Note 50 (c)).

This reversal during the previous year occurred because the units in the underlying project were largely sold at prices higher than their recorded / budgeted cost.

Disclosure of outstanding dues of Micro and Small Enterprise under Trade Payables is based on the information available with the Company regarding the status of the suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006.

60. The Government of India has introduced the Code on Social Security, 2020 ("Code") which would impact the contributions by the Group towards Provident Fund and Gratuity. The Government of India has deferred the effective date of implementation of the Code, and it shall come into force from such dates as may be notified in the gazette of India. The Company will assess the impact and its evaluation after notification of the Code and will give appropriate impact in its consolidated financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

61. Cash and Cash Equivalents and Bank Balances includes balances in Escrow Account which shall be used only for specified purposes as defined under Real Estate (Regulation and Development) Act, 2016.