1. We have audited the accompanying standalone financial statements of LADAM
AFFORDABLE HOUSING LIMITED (“the Company”), which comprise the Balance
Sheet as at 31/03/2024, the Statement of Profit and Loss (including Other
Comprehensive Income), the statement of changes in equity and the statement of cash
flows ended on that date, and notes to standalone Ind AS financial statements, including a
summary of significant accounting policies and other explanatory information.

2. In our opinion and to the best of our information and according to the explanations given to
us, the aforesaid standalone Ind AS financial statements give the information required by
the Companies Act, 2013, as amended (“the Act”) in the manner so required and give a true
and fair view in conformity with the accounting principles generally accepted in India, of
the state of affairs of the Company as at March 31, 2024, its profit including other
comprehensive income, its cash flows and the changes in equity for the year ended on that
date.

Basis for Opinion

3. We conducted our audit of the standalone financial statements in accordance with the
Standards on Auditing (“SA”s) 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 Standalone 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 (“ICAI”) together with the ethical requirements
that are relevant to our audit of the standalone financial 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 ICAI's Code of Ethics. We
believe that the audit evidence obtained by us is sufficient and appropriate to provide a
basis for our audit opinion on the standalone financial statements.

Key Audit Matters

4. Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the standalone financial statements for the financial year
ended March 31,2024. These matters were addressed in the context of our audit of the
standalone financial statements as a whole, and in forming our opinion thereon, and
we do not provide a separate opinion on these matters.

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

5. The Company's Board of Directors is responsible for the other information. The other
information comprises the information included Management Discussion and Analysis,
Board's Report including Annexures to Board's Report, Business Responsibility and
Sustainability Report, Corporate Governance and Shareholder's Information but does not
include the consolidated financial statements, 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 such other information is materially inconsistent with the standalone Ind AS
financial statements or our knowledge obtained in the audit or otherwise appears to be
materially misstated. If, based on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to report that fact. We
have nothing to report in this regard.

Responsibility of management for the standalone financial statements

6. The Company's Board of Directors is responsible for the matters stated in section 134(5) of
the Act with respect to the preparation of these Standalone Financial Statements that give a
true and fair view of the financial position, financial performance, including other
comprehensive income, changes in equity and cash flows of the Company in accordance
with the accounting principles generally accepted in India, including Ind AS specified under
section 133 of the Act. 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 controls, that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and presentation of
the Standalone Financial Statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.

7. In preparing the standalone financial statements, management and Board of Directors 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 and Board of Directors either intends to liquidate the
Company or to cease operations, or has no realistic alternative but to do so.

8. The Company's Board of Directors are responsible for overseeing the company's
financial reporting process.

Auditor's Responsibility

Our objectives are to obtain reasonable assurance about whether the standalone 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,
specified under Section 143(10), will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these standalone financial statements.

9. As part of an audit in accordance with SAs, specified under Section 143(10) of the Act,
we exercise professional judgment and maintain professional skepticism throughout
the audit. We also:

• Identify and assess the risks of material misstatement of the standalone 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 financial controls relevant to the audit in order to
design audit procedures that are appropriate in the circumstances. Under section
143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the
Company has adequate internal financial controls system 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 the management.

• 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 up to 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 financial
statements, including the disclosures, and whether the standalone financial
statements represent the underlying transactions and events in a manner that
achieves fair presentation.

10. Materiality is the magnitude of misstatements in the standalone financial statements
that, individually or in aggregate, makes it probable that the economic decisions of a
reasonably knowledgeable user of the financial statements may be influenced. We
consider quantitative materiality and qualitative factors in

• planning the scope of our audit work and in evaluating the results of our work;
and

• to evaluate the effect of any identified misstatements in the financial
statements.

11. 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.

12. 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.

13. From the matters communicated with those charged with governance, we determine
those matters that were of most significance in the audit of the standalone financial
statements of the current period and are therefore the key audit matters. We describe
these matters in our auditor's report unless law or regulation precludes public
disclosure about the matter or when, in extremely rare circumstances, 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 interest
benefits ofsuch communication.

Report on Other Legal and Regulatory Requirements

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 Companies
Act, 2013, we give in the Annexure a statement on the matters specified in paragraphs 3
and 4 of the Order, to the extent applicable.

• As required by Section 143(3) of the Act, we report that:

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.

1. 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;

2. The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive
Income, Statement of Changes in Equity and the Statement of Cash Flows dealt with by
this Report are in agreement with the books of account;

3. In our opinion, the aforesaid standalone financial statements comply with the Ind AS
specified under Section 133 of the Act.

4. On the basis of the written representations received from the directors as on 31st
March, 2024 taken on record by the Board of Directors, none of the directors is
disqualified as on 31st March, 2024 from being appointed as a director in terms of
Section 164 (2) of the Act.

5. 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 in "Annexure A". Our report expresses an
unmodified opinion on the adequacy and operating effectiveness of the Company's
internal financial controls with reference to Standalone Financial Statements.

6. With respect to the other matters to be included in the Auditor's Report in accordance
with the requirements of section 197(16) of the Act, as amended, in our opinion and to
the best of our information and according to the explanations given to us, the
remuneration paid by the Company to its directors during the year is in accordance
with the provisions of section 197 of the Act.

7. 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, 2 021, in our
opinion and to the best of our information and according to the explanations given to
us:

i) The Company does not have any pending litigations which would impact its
financial position.

ii) The Company did not have any long-term contracts including derivative
contracts; as such the question of commenting on any material foreseeable losses

thereon does not arise.

iii) There has been no delay in transferring amounts, 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 the knowledge and belief,
as disclosed in the note 35E(b)(i) to the financial statements 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 persons or
entities, including foreign entities (“Intermediaries”), with the understanding,
whether recorded in writing or otherwise, that the intermediary shall ,whether,
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
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 35E(b)(ii) to financial statements no funds have been
received by the company from any persons or entities, including foreign entities
(“funding Parties”), with the understanding, whether recorded in writing or
otherwise, that the division shall, whether, directly or indirectly, lend or invest in
other persons or entities identified in any manner whatsoever by or on behalf of
the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or
the like on behalf of the Ultimate Beneficiaries; and

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

v) No dividend has been declared or paid during the year by the company.

vi) Based on our examination, which included test checks, the Company has used
accounting software for maintaining its books of account for the financial year ended
March 31, 2024 which has a feature of recording audit trail (edit log) facility and the
same has operated throughout the year for all relevant transactions recorded in the
software.

As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from
April 1, 2023, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules,
2014 on preservation of audit trail as per the statutory requirements for record
retention is not applicable for the financial year ended March 31,2024.

• As required by the Companies (Auditor's Report) Order, 2020 (the "Order") issued by
the Central Government in terms of Section 143(11) of the Act, we give in "Annexure B"
a statement on the matters specified in paragraphs 3 and 4 of the Order.

For D P Sarda & Co
Chartered Accountants
FRN 117227W

Date : 22/05/2024 Sd/-

Place : Nagpur CA Ankur Agrawal

Partner
MRN140702
UDIN: 24140702BKFARW6637