XVII Provisions and Contingent Liabilities

Provisions are recognized when the Company has a present
obligation (legal or constructive) as a result of a past event,
it is probable that the Company will be required to settle the
obligation and a reliable estimate can be made of the amount
of the obligation.

The amount recognized as a provision is the best estimate
of the consideration required to settle the present obligation
at the end of the reporting period, taking into account the
risks and uncertainties surrounding the obligation. When
a provision is measured using the cash flows estimated
to settle the present obligation, its carrying amount is the
present value of those cash flows (when the effect of the time
value of money is material).

Contingent liabilities are disclosed for:

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

(ii) 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.

Commitments include the amount of purchase order (net of
advances) issued to parties for completion of assets.

Contingent Assets are not recognised in Financial
Statements. If an inflow of economic benefits has become
probable, contingent assets are disclosed.

Contingent Assets are assessed continually to ensure that
developments are appropriately reflected in the Financial
Statements. If it has become virtually certain that an inflow
of economic benefits will arise, the asset and the related

comparable transactions observed /identified
for similar properties in the same geographical
market serving the same real estate segment.

NRV in respect of inventory under development
is assessed with reference to market prices and
trends existing at the reporting date for similar
completed property, less the estimated cost to
complete construction and an estimate of the time
value of money to the date of completion.

Estimated cost to complete is reviewed at each
year end by considering cost escalation and
overruns basis the progress of the project.

b. Impairment of other Non-Financial Assets

The Company assesses at each reporting date
whether there is an indication that an asset may
be impaired. If any indication exists, or when
annual impairment testing for an asset is required,
the Company estimates the asset's recoverable
amount. An asset's recoverable amount is the
higher of an asset's fair value less costs of
disposal and its value in use. When the carrying
amount of an asset exceeds its recoverable
amount, the asset is considered impaired and
is written down to its recoverable amount. In
assessing value in use, the estimated future cash
flows are discounted to their present value using a
pre-tax discount rate that reflects current market
assessment of the time value of money and the
risk specific to the asset. In determining fair value
less cost of disposal, recent market transactions
are taken into account. If no such transactions
can be identified, an appropriate valuation model
is used. These calculations are corroborated by
valuation multiples or other available fair value
indicators.

c. Impairment of Financial Assets (Refer Note 2
(a) (VII), 7, 8, and 9)

The impairment provisions for financial assets
are based on assumptions about the risk of
default and expected loss rates. The Company
uses judgement in making these assumptions and
selecting the inputs for impairment calculation,
based on Company's past history, existing market
conditions as well as forward looking estimates
at the end of each reporting period.

d. Useful life and residual value of Property, Plant
and Equipment (Refer Note 2 (a) (III) and 3)

Useful lives of Property, Plant and Equipment
are based on the life prescribed in Schedule II

of the Companies Act, 2013. In cases, where the
useful lives are different from that prescribed in
Schedule II, they are based on technical advice.
Assumptions also need to be made when the
Company assesses whether an asset may be
capitalised and which components of the cost of
the asset may be capitalised.

e. Recognition and Measurement of Defined
Benefit Obligations (Refer Note 2 (a) (XI) and
39)

The obligation arising from defined benefit plan is
determined on the basis of actuarial assumptions.
Key actuarial assumptions include discount rate,
expected return on plan assets, trends in salary
escalation and attrition rate. The discount rate
is determined by reference to market yields at
the end of the reporting period on government
bonds. The period to maturity of the underlying
bonds correspond to the probable maturity of the
post employment benefit obligations.

f. Fair Value Measurement of Financial
Instruments (Refer Note 2 (a) (VII) and 35)

When the fair values of the financial assets and
liabilities recorded in the Balance Sheet cannot be
measured based on the quoted market prices in
active markets, their fair value is measured using
valuation technique. The inputs to these models
are taken from the observable market wherever
possible, but where this is not feasible, a review
of judgement is required in establishing fair
values. Any changes in assumptions could affect
the fair value relating to financial instruments.

2C Changes in Accounting Policies and Disclosures
Recent Pronouncements

Ministry of Corporate Affairs ("MCA") notifies new
standards or amendments to the existing standards

under Companies (Indian Accounting Standards) Rules
as issued from time to time. For the year ended March
31, 2026, the amendments to the standards that are
notified by the Ministry of Corporate Affairs (MCA),
but not yet effective, upto the date of issuance of the
Company's financial statements are disclosed below.
The Company will adopt these amendments to the
standards, when they become effective.

Amendments to IndAS 1-Classification of Liabilities
as Current or Non-Current and Non-Current
Liabilities with Covenants and Ind AS 10 Events after
the Reporting Period.

Ind AS 10 has been amended to remove the previous
treatment under which a lender's post reporting date
waiver granted before the financial statements were
approved for issue of a breach of a material covenant
in along term loan arrangement that occurred on or
before the end of the reporting period, resulting in the
liability becoming payable on demand at the reporting
date, was regarded as an adjusting event.

For annual reporting periods beginning on or
after 1^st April 2026, any breach of a covenant
whether material or immaterial occurring
on or before the reporting date will, in
accordance with Ind AS 1, require the related
liability to be classified as current, unless the
lender has granted a waiver of the breach
on or before the reporting date and has
agreed not to demand repayment for at least 12
months after the reporting date as a consequence
of the breach. Such a waiver shall be treated as an
adjusting event.

The amendments are effective for annual reporting
periods beginning on or after 1^st April, 2026
retrospectively in accordance with Ind AS 8.

The amendment is not expected to have a material
impact on the financial statements of the Company.

Notes:

1. No trade or other receivable are due from director or other officer of the Company either severally or jointly with any other person nor any trade
or other receivable are due from firm or private company respectively, in which director is a partner, director or member.

2. For information on credit risk, refer note no. 35 (G) (a) (i)

3. The average credit period for rental debtors is 30 days. No interest is charged on trade receivable from the date of receipt of invoice by customer
till the due date. Thereafter, interest is charged as per terms agreed. Interest on delayed payment is recognised only upon acceptance by the
customer.

Terms /rights attached to Equity shares

The Company has only one class of equity shares having a par value of ' 2/- per share. Each holder of equity share is entitled
to one vote per share. All shares rank pari passu with regard to dividend and repayment of capital.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of
the Company in proportion to the number of equity shares held by the shareholders, after distribution of all preferential amounts.

Nature of Reserves :

a Capital Redemption Reserve :

The amount in Capital Redemption Reserve is created for redemption of preference shares.
b Securities Premium :

Securities Premium is used to record the premium on issue of shares or debentures. The reserve will be utilised in accordance with the provisions of the
Companies Act, 2013.

c General Reserve :

The Company has transferred a portion of the net profit of the Company before declaring dividend to general reserve pursuant to the earlier provisions of
Companies Act, 1956. Mandatory transfer to general reserve is not required under the Companies Act, 2013.

d Money Received against shares warrants#

During the previous year, Company had converted 1,53,00,000 warrants issued on preferential basis upon receipt of balance amount of ' 1,607 Lakhs being
75% of the warrants consideration. Warrants were converted into equity shares in the ratio of 1:1.

e Retained Earnings :

Retained earnings are the profits/(Loss) that the Company has earned till date, less any transfers to general reserve, dividends or other distribution to
shareholders.

f Equity Components of Compound Financial Instruments :

During the year, pursuant to the exercise of option by the investors, the Company redeemed and repaid 2,65,48,672 fully paid-up, unlisted, unsecured
Optionally Convertible Debentures (OCDs) of ' 56.50 each aggregating to ' 15,000 lakhs, in accordance with the terms of the preferential issue thereof and
the relevant OCD agreement. This redemption was partly funded to the extent of ' 11,250 lakhs by redemption of the Company's investment in 56,24,99,988
unsecured Non-Convertible Debentures (NCDs) of ' 2 each, in accordance with the terms of the relevant NCD/OCD agreement and the balance was funded
out of the Company's own liquid funds.

G Risk Management Framework

The Company's Board of Directors has overall responsibility for the establishment and oversight of the Company's risk
management framework. The Board of Directors has 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.

a) 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, loans and investment in
debt securities. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the
creditworthiness of customers to which the Company grants credit terms in the normal course of business. The Company
establishes an allowance for doubtful debts and impairment that represents its estimate of incurred losses in respect of
trade and other receivables and investments and loans.

The Company's maximum exposure to credit risk is the carrying value of each class of financial assets.

(i) Trade and other receivables

Customer credit risk for realty sales is managed by entering into sale agreements in the case of sale of under¬
construction flats / premises which stipulate construction milestone based payments and interest clauses in case
of delays and also by requiring customers to pay the total agreed sale value before handover of possession of the
premises / flats, thereby substantially eliminating the Company's credit risk in this respect. In the case of sale of
finished units, sale agreements are executed only upon / against full payment.

Credit risk on trade receivables in respect of realty rentals is limited as the customers of the Company mainly consists
of Government authorities / group Companies. Based on the past history of payments received, there have been no
defaults.

Credit risk on trade receivables in respect of other operating income is Nil since the terms of payment are 100%
through advance billing and collections.

Based on the above factors and historical data, the Company has concluded that no ECL allowance needs to be
recognised for overdue receivables.

(ii) Impairment

Ageing of trade and other receivables that were not impaired was as follows.

Expected credit loss assessment for customers as at 31^st March 2026 and 31^st March 2025:

Exposures to customers outstanding at the end of each reporting period are reviewed by the Company to determine
incurred and expected credit losses. Historical trends of impairment of trade receivables do not reflect any significant
credit losses. Given that the macro economic indicators affecting customers of the Company have not undergone
any substantial change, the Company expects the historical trend of minimal credit losses to continue. Further,
Management believes that the unimpaired amounts that are past due by more than 30 days are still collectible in
full, based on historical payment behaviour and extensive analysis of customer credit risk. In view of the above, the
Company believes that no provision is required as per expected credit loss method..

The movement in the allowance for impairment in respect of trade and other receivables during the year was as
follows.

(iii) Loans

The loans and advances are in the nature of advances for project in SPVs where the Company is a stakeholder and
hence the risk is minimal. Based on the impairment assessment carried out, no additional provision is required apart
from provisions for impairment in respect of certain specific loans based on the fair valuation by independent valuers,
wherever applicable.

(iv) Cash & Cash Equivalents and other bank balances (including non current deposits with banks)

The Company held cash and bank balances with credit worthy banks of ' 2,807 Lakhs at 31^st March 2026 (31^st March
2025: ' 5,809 Lakhs). The credit risk on cash & cash equivalents and other bank balances is limited as the Company
generally invests in deposits with banks where credit risk is largely perceived to be extremely insignificant.

b) 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. The Company
manages its liquidity risk by preparing monthly cash flow projections to monitor liquidity requirements. In addition, the
Company projects cash flows and considering the level of liquid assets necessary to meet these, monitoring the Balance
Sheet liquidity ratios against internal and external regulatory requirements and maintaining debt financing plans.

(i) Exposure to Liquidity Risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are
gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements.

c) Market Risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices will
affect the Company's income or the value of its holdings of financial instruments. Market risk is attributable to all market
risk sensitive financial instruments including foreign currency receivables and payables and long term debt. The Company
is exposed to market risk primarily related to interest rate risk and the market value of the investments.

d) Currency Risk

The functional currency of the Company is Indian Rupee. Currency risk is not material, as the Company does not have
significant exposure in foreign currency.

(i) Exposure to Currency Risk

The currency profile of Financial Assets and Financial Liabilities as at 31^st March 2026 and 31^st March 2025 is Nil.

(ii) Interest Rate Risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk
is the risk of changes in fair values of fixed interest bearing investments because of fluctuations in the interest rates.
Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing investments will fluctuate
because of fluctuations in the interest rates.

Exposure to interest rate risk

In order to optimize the Company's position with regards to interest income and interest expenses and to manage
the interest rate risk, treasury performs a comprehensive corporate interest rate risk management by balancing the
proportion of fixed rate and floating rate financial instruments in its total portfolio. According to the Company interest
rate risk exposure is only for floating rate borrowings. The interest rate profile of the Company's interest-bearing
financial instruments as reported to the management of the Company is as follows.

(a) Fair value sensitivity analysis for fixed rate Instruments

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

(b) Cash flow sensitivity analysis for variable rate Instruments

A reasonably possible change of 100 basis points in interest rates at the reporting date would have increased
(decreased) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables
remain constant.

A) In respect of tax matters

(i) The Company is of the view that it has a good case with likelihood of liability / any loss arising out of these tax matters
being remote. Accordingly, pending settlement of the tax dispute, no adjustment has been made in the Standalone Ind
AS Financial Statements for the year ended 31^st March, 2026.

(ii) Contingent liability for Income Tax pertains to dispute towards non deduction of TDS on subvention interest and
Disallowance of Expenditure under section 69C of Bogus Purchase Ac.

(iii) Contingent liability for VAT demand pertains to demand arising on grounds of turnover computation, sub contractors
deduction and various other grounds. The Company has filed an appeal against the aforesaid order

(iv) Contingent liability for service tax demand pertains to levy of service tax on transfer of development rights (TDR) and
demand on account of non reversal of CENVAT credit pertaining to exempt service of construction of public parking
lot for Municipal Corporation of Greater Mumbai (MCGM). The Company has filed reply to the show cause cum demand
notices.

(v) Contingent Liability for GST pertains to Disallowance of ITC claimed in Trans 1 and excess ITC credit claimed by the
Company for which appeal has been filed.

B) In respect of other matters

(i) Disputed claims pertain to litigations with respect of Projects of the Company filed by the customers on account of
delayed possession, poor quality of apartments and infrastructure, pending conveyance of property and various other
matters. The Company has gone into appeal in respect of these matters in various forums.

39 EMPLOYEE BENEFITS

The Company has various benefit plans as under:

A Defined Contribution Plan

The Company makes contributions towards provident fund, superannuation fund and other retirement benefit plans for
qualifying employees. Under the plans, the Company is required to contribute a specified percentage of payroll cost to the
retirement benefit plan to fund the benefits. The contributions payable to these plans by the Company are at rates specified
in the rules of the schemes.

The Company has recognised the following amounts in Statement of profit and loss included in Contributions to Funds under Employee
Benefit Expenses (Refer note 32).

B Defined Benefit Plan

i. The Company makes annual contributions to the Group Gratuity cum Life Assurance Schemes administered by the LIC
of India, a funded defined benefit plan for qualifying employees. The scheme provides for payment as under:

a. On normal retirement / early retirement / withdrawal / resignation - As per the provisions of the Payment of
Gratuity Act, 1972 with vesting period of 5 years of continuous service.

b. On death in service - As per the provisions of the Payment of Gratuity Act, 1972 without any vesting period.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity
was carried out as at 31^st March, 2026. The present value of the defined benefit obligations and the related current
service cost and past service cost, were measured using Projected Unit Credit Method.

Based on the actuarial valuation obtained in this respect, the following table sets out the status of the gratuity plan
and the amounts recognised in the Company's financial statements as at Balance Sheet date:

xii. Risk Exposure

Through its defined benefit plans, the Company is exposed to number of risks, the most significant of which are
detailed below

(i) Inflation rate risk:

Higher than expected increase in salary will increase the defined benefit obligation

(ii) Demographic Risk :

This is the risk of variability of results due to unsystematic nature of decrements that include mortality, withdrawal,
disability and retirement. The effect of these decrements on the defined benefit obligations is not straight forward
and depends on the combination of salary increase, discount rate and vesting criteria.

(iii) Interest Rate Risk:

The defined benefit obligation calculated uses a discount rate based on Government bonds. If the bond yields
fall, the defined benefit obligation will tend to increase.

C Other Long Term Employee Benefits

The liability towards compensated absences as at 31^st March 2026 based on actuarial valuation using the Projected Unit
Credit Method is ' 219 Lakhs (31^st March 2025 - ' 316 Lakhs).

Notes:

1. Terms and Conditions of Transactions with related parties

a. Rent / Licence Fee Income:

Rent/ Licence Fee Income earned from related party based on mutual negotiation. The Company enters in to Rent/Licence
agreement with related party at an amount it expects to be entitled to in lieu of use of assets/entinements duly supported
by Rent/Licence Fee Income earned from a related party based on mutual negotiation The Company enters in to Rent/Litera
benchmarking study. The receivable outstanding balance of rent/licence fee income are unsecured and require settlement
in cau No guarantee or other security has been received against these receivables.

b. Advance against sale of Realty Stock:

Advance against for sale of Realty Stock is received from related parties basis terms agreed at the time of booking of flats/
lets The terms of booking are comparable to third party bookings and are carried out at arm's length post considering
prevalent schemes if any. The demands raised for advance against sale of Realty Stock are required to be settled in cash.

c. Project Management Consultancy Fees (PMC):

The Company has entered into PMC agreement with a related party. The terms of PMC fees are mutually agreed and negrate
basis the time and efforts involved in providing these services. The The invoices raised for PMC fees are payable within a
credit period of 30 days and are unsecured. No guarantee or other security has been received against these receivables..

d. Fees for Business Support and Brand Management Fees:

The Company is paving Business Support and Brand Management fees to a related party basis agreement mutually agreed
and negotiated. The Fees are payable at an agreed percentage of Revenue as per benchmarking study conducted. The
amounts are payable within 30 days of raising of invoice.

e. Receiving of Services:

The Company receives services (Professional and other services) from related parties on the same terms as applicable to
third payable outstanding balances are and require settlement in cash.

f. Donation given:

Donations are paid to a foundation in which Key Management Personnel has significant influence. These are paid for CSR
activities carried out by this foundation basis the CSR obligations of the Company. The foundation utilises these amounts
for the defined CS purposes.

g. Loans given to Related Parties:

The Company has granted loans for infrastructure purposes to its subsidiary companies and joint ventures. The loans
granted to subsidiary companies are interest free considering the furtherance of the business objectives of the Company.
The loans granted to joint venture are interest bearing basis the comparable benchmark rate on the date of granting. The
loans granted to subsidiaries and joint ventures are repayable on demand. The impairment of loans is disclosed in related
party disclosure.

h. Loans taken from Related Parties:

Loans were taken from subsidiary Companies for funding requirements. These loans were repaid during the year and were
interest free.

i. Reimbursement of Expenses:

Reimbursement expenses are incurred and recovered/paid without markup basis the actual amount incurred. The
reimbursement of expenses is for routine expenses paid on behalf of other related parties.

j. Issue of Equity Shares:

The Company has allotted equity shares to a Related party on private placement basis. The consideration for issue of shares
is determined in compliance with SEBI (ICDR) Regulation 2018. The amounts are received as per the terms of issue and are
utilised basis the purpose of issue.

k. Investment in Non-Convertible Debentures (NCD):

The Company has made investment in a joint venture entity by way of NCD. These debentures are redeemable at par at the
end of the term of 18 months. The Joint venture entity has utilised the funds invested as per the joint venture agreement
entered with other parties of the joint venture.

l. Redemption of Debentures:

The Company has invested into Debentures of subsidiary Companies. These debentures are redeemed basis the terms of
redemption. There is no redemption of debentures during the current year

m. Security/Guarantee provided for Subsidiaries:

The Company in past had provided security/Guarantee to the lender of Subsidiary Companies. The Borrowings of the
subsidiary Companies were fully repaid in earlier years and hence the security/guarantee by the Company are released
in earlier years.

n. Remuneration to Key Management personnel (KMP):

The remuneration paid to KMP are recognised as an expense during the financial year. The amounts do not include expense, if
any, recognised toward post-employment benefits and other long-term benefits of key managerial personnel. Such expenses
are measured based on an actuarial valuation done for Company as a whole. Hence, amounts attributable to KMPs are
not separately determinable. Generally, non-executive directors do not receive any gratuity or post-employment benefits
from the Company. During the year ended 31^st March 2026, an amount of ' 8 Lakhs were incurred towards sitting fees of
non-independent directors (31^st March 2025: ' 11 Lakhs).

2. As the future liabilities for gratuity and leave encashment are provided on actuarial valuation basis for the Company, the
amount pertaining to individual is not ascertainable and therefore not included above.

3. On 29^th May 2025, the Company has appointed Ms Pooja Sutradhar as Company Secretary. Mr Mukesh Gupta was Company
Secretary till 10^th April 2025.

41 LEASES

a. Assets taken on Operating Lease:

The Company has two lease contracts for rental property used in its operations. Leases of rental property have lease terms
of 5 years which includes non-cancellable period of 3 years and 6 months and 3 years respectively.

The Company obligations under its leases are secured by the lessor's title to the leased assets.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the
requirements of the financial covenants. The Board of Directors seeks to maintain a balance between the higher returns that
might be possible with higher levels of borrowings and the advantages and security afforded by a sound capital position. The
Management expects the debt equity ratio to be less than 5 times.

The Company monitors capital using a ratio of 'adjusted net debt' to 'adjusted equity' (gearing ratio). For this purpose, adjusted
net debt is defined as total liabilities, comprising interest-bearing loans and borrowings less cash and cash equivalents.

i. During the previous year ended March 31, 2025, the Company had received favourable order from High court in response to
writ petition filed in earlier years for property tax matter. Basis this favourable order, the Company has recognised Income for
principle refund due of ' 531 Lakhs and Interest thereon as per order amounting to ' 551 Lakhs aggregating to ' 1,082 Lakhs.

ii. Impairment provision for loans to subsidiaries, joint ventures and associates basis assessment of it's recoverability. The
expected shortfall is computed basis the projected cash flows of the investee companies. The fair value for the purpose
of impairment is determined using Level 3 fair value hierarchy. The impairment during the year resulted due to higher
external debt / lower expected net margins in the projects of these investee Companies.

56 During the previous year ended March 31,2025, the Company has issued and allotted by way of a preferential issue 2,65,48,672
fully paid up Unlisted, Unsecured Optionally Convertible Debentures (OCDs) of face value of ' 56.50/- each, amounting to ' 15,000
Lakhs. The holder has an option to convert the OCDs into fully paid up equity shares of face value ' 2/- of the Company at any
time within a period of 18 (Eighteen) months from the date of allotment at conversion price of ' 56.50/-.

Out of the above,consideration received for 1,99,11,504 fully paid up Unlisted, Unsecured OCDs amounting to ' 11,250 Lakhs is
invested in to joint venture Harborpeak Real Estate Private Limited by way of Non Convertible Debentures as per the terms of
the OCD subscription agreement entered with the investors.

Balance portion of Optionally Convertible Debentures of ' 3,750 Lakhs is classified as compound financial instrument and equity
portion of ' 586 Lakhs is disclosed under other Equity.

During the previous year, pursuant to the exercise of option by the investors, the Company redeemed and repaid 2,65,48,672
fully paid-up, unlisted, unsecured Optionally Convertible Debentures (OCDs) of ' 56.50 each aggregating to Rs.15,000 lakhs, in
accordance with the terms of the preferential issue thereof and the relevant OCD agreement. This redemption was partly funded
to the extent of ' 11,250 lakhs by redemption of the Company's investment in 56,24,99,988 unsecured Non-Convertible Debentures

(NCDs) of ' 2 each, in accordance with the terms of the relevant NCD/OCD agreement and the balance was funded out of the
Company's own liquid funds.

57 During the previous year ended March 31 ,2025, Company has converted 1,53,00,000 warrants issued on preferential basis upon
receipt of balance amount of ' 1,607 Lakhs being 75% of the warrants consideration. Warrants are converted into equity shares
in the ratio of 1:1.

During the year, the Company has converted fully paid-up 77,27,000 0% Unsecured Compulsorily Convertible Debentures of face
value of ' 2 each in equivalent number of equity shares on 16^th April, 2025 at a conversion price of ' 44 per share.

58 CORPORATE SOCIAL RESPONSIBILITY EXPENDITURE (CSR)

Disclosure as required under Section 135 of Companies Act, 2013, read with Companies (Corporate Social Responsibility Policy)
Rules, 2014 are as under:

The Company undertakes its Corporate Social Responsibility (CSR) activities through Urvi Ashok Piramal Foundation (refer
note 40). The foundation operates in areas of health, vocational skill training, environment and education. The Company
has contributed ' 44 lakhs (31^st March 2025 — ' 35 lakhs) to the foundation for undertaking CSR activities as defined under
CSR rules.

59 The Government of India notified the Code on 'Wages, 2019; the Code on Social Security,2020; the Industrial Relations Code, 2020
and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively, the "Labour Codes") on 21^st November 2025.
The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due
to changes in Labour Codes. The Company has evaluated the impact of increased employee benefit obligations arising from the
implementation of the Labour Codes based on its best judgement. Accordingly, the Company has recognized an additional charge
of ' 166 lakhs under the head employee benefit expenses in the financial statements for the year ended 31^st March 2026.

60 OTHER STATUTORY INFORMATION

Additional Regulatory Information/disclosures as required by General Instructions to Division II of Schedule III to the Companies
Act, 2013 are furnished to the extent applicable to the Company.

a. The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company
for holding any Benami property.

b. The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

c. The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

d. The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding 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 to or on behalf of the Ultimate Beneficiaries

e. Other than as disclosed in Note no 56, the Company have not received any fund from any person(s) or entity(ies),including
foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall:

(i) directly or indirectly lend or invest in other person or entities 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

f. The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey
or any other relevant provisions of the Income Tax Act, 1961)

g. The Company has not been declared wilful defaulter by any banks / Financial Institution.

61 The Company has balance with the below mentioned companies struck off under Section 248 of the Companies Act 2013:

62 The Company has used accounting software SAP for maintaining its books of account 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,
except that audit trail feature is not enabled for certain changes made using privileged/ administrative access rights to the SAP
application and the underlying database. Further no instance of audit trail feature being tampered with was noted in respect of
accounting software where the audit trail has been enabled. Additionally, the audit trail of prior years has been preserved by
the Company as per the statutory requirements for record retention to the extent it was enabled and recorded in the respective
years.

The Company has used software for maintaining and processing of Payroll data, however, the feature of audit trail (edit log)
facility is not enabled.

63 The Company has availed working capital facilities from Banks / Financial Institutions which are secured against rent receivables.
The Company is not required to submit any quarterly returns / statements to the banks in relation to these working capital
facilities.

64 There are no other significant events that would require adjustments or disclosures in the financial statements as at the Balance
Sheet date.