1) There are certain cases against the Company pending in various courts. The Management believes that based on legal/ technical advice from experts that the ultimate outcome of these cases will not have a material/ adverse impact on the Company’s financial position and results of operations.

2) The Company is contesting the income-tax demands and the Management believe that its position will likely be upheld in the appellate process. No tax expense has been accrued in the financial statements for the tax demand raised. The Management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the Company's financial position and results of operations.

Uncertain Direct Tax litigation

The Company's Income-tax assessment is completed till AY 2024-25. The appeal filed before the Commissioner of Incoem Tax (Appeals) is pending only for Assessment Year ('AY') 2022-23. No appeal is pending before the Income Tax Appellate Tribunal ('ITAT').

AY 2022-23

The Company had received assessment order under section 143(3) and demand under section 156 from the AO on March 28, 2024 where a demand was raised for AY 2022-23 for ?120.6 million. The Company has filed an appeal with the Commissioner of Income Tax Appeals, National Faceless Appellate Centre ['CIT(A), NFAC'] challenging the aforesaid demand on April 15, 2024. The hearing for the above-mentioned appeal is completed and order from CIT(A), NFAC is awaited.

The addition made by the AO in the assessment order for AY 2022-23 was in line with additions made in AY 2017-18, AY 2018-19, AY 2020-21 and AY 2021 -22 for which the Company has received favourable orders from ITAT on September 23, 2024.Based on Management's evaluation it expects the tax authorities to accept the tax treatment considered by the Company for AY 2022-23. Further, the Company does not foresee any material impact on the taxable profits/losses in the future periods. Consequently, provision for this uncertain tax position is not recorded.

AY 2024-25

The Company had received clean assessment order under section 156 from the Assessing Officer (AO) on March 9, 2026 where a demand aggregating ?70.6 million was raised for AY 2024-25.

The above demand is arising due to mistake made by AO in its tax computation. The Company has filed a rectification letter with the AO on March 18, 2026. Based on Management's evaluation it expects the tax authorities to accept rectification filed by the Company. Further, the Company does not foresee any material impact on the taxable profits/losses in the future periods. Consequently, provision for this uncertain tax position is not recorded.

31 Capital management

For the purpose of the Company's capital management, capital includes issued capital and all other Equity reserves. The primary objective of the Company's capital management is to ensure the going concern operation and to maintain an efficient capital structure to support the corporate strategy and maximise shareholder value.

The capital structure is governed by policies approved by the Board of Directors and is monitored by various metrics. The Company maintains focus on capital efficiency without incurring material indebtedness and has appropriate working capital and free cash flows. The Company manages its capital structure and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants.

No changes were made in the objectives, policies or processes for managing capital during the years ended March 31, 2026 and March 31,2025.

32 Financial Instruments

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The following table provides the fair value measurement hierarchy of financial assets and liabilities.

33 Financial risk management objectives and policies

The Company's financial risk management is an integral part of how to plan and execute its business strategies. The Company's financial risk management policy is set by the Board of Directors.

The key risks include market risk, credit risk and liquidity risk. The Board of Directors reviews and agrees policies and procedures for management of these risks.

a) Market risk

Market risk is the risk of loss of future earnings, fair value or future cash flows that may result from a change in the price of a financial instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and other market changes that affect market risk sensitive instruments.

i) Interest rate risk

The Company does not have any borrowings. The Company's investment in debt instruments and loans given by the Company are at fixed interest rates, consequently the Company is not exposed to interest rate risk. In order to optimise the Company's position with regards to finance income and to manage the interest rate risk, treasury performs a comprehensive corporate interest rate risk management by continuous review of investment portfolio and portfolio exposure to instruments having lower credit rating, balancing the proportion of fixed rate and floating rate financial instruments in its total portfolio.

Thus, the Company is not exposed to significant interest rate risk as at the respective reporting dates.

ii) Foreign currency exchange risk

The Company undertakes minimal transactions denominated in foreign currency, consequently exposures to exchange rate fluctuations is not significant. The Management has taken a position not to hedge this currency risk.

iii) Equity and other price risk

The Company does not have any equity investments and hence is not exposed to equity price risks arising from equity investments.

b) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty fails to meet its contractual obligations and arises principally from the Company’s receivables from rental deposits given, loans given, investments made and balances at bank.

The carrying amount of financial assets represents the maximum credit exposure. Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks and financial institutions with high credit ratings assigned by credit-rating agencies. The credit risk on mutual funds, and debt instruments is limited because the counterparties are generally banks, financial institutions and sovereign bonds with high credit ratings assigned by credit rating agencies.

None of the financial instruments of the Company result in material concentrations of credit risk. The Company's objective is to seek continual revenue growth while minimising losses incurred due to increased credit risk exposure.

c) Liquidity risk

Liquidity risk is the risk that the Company will not be able to settle or meet its obligations as they fall due. The Company's policy on liquidity risk is to maintain sufficient liquidity in the form of cash and investment in liquid mutual funds to meet the Company's operating requirements with an appropriate level of headroom. In addition, processes and policies related to such risks are overseen by senior management. The Management monitors the Company's net liquidity position through rolling forecasts on the basis of expected cash flows.

36 Disclosure as per Schedule III of the Companies Act 2013

i) The Company has title deeds for all the immovable properties held in the name of the Company.

ii) The Company does not have any benami properties. There are no proceedings initiated or pending against the Company for holding Benami property under Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules thereunder.

iii) The Company is not declared as a 'wilful defaulter' by any bank or financial institution or other lender.

iv) During the year and in the previous year, the Company has no transactions with struck off companies under section 248 of Companies Act 2013 or section 560 of Companies Act 1956.

v) There no charges or satisfaction yet to be registered with Registrar of Companies (ROC).

vi) The Company has not traded or invested in crypto currency or virtual currency.

vii) The Company does not have any transactions recorded in the books of account that has been surrendered or disclosed as income during the year in the assessments under Income Tax Act, 1961.

viii) The Company does not have any Capital-work-in progress or intangible assets under development, whose completion is overdue or has exceeded its cost compared to its original plan.

ix) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entity(ies) (intermediaries) with the understanding that the intermediary shall;

a) 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

b) provide any guarantee, security, or the like to or on behalf of the ultimate beneficiaries.

x) The Company has not received any fund from any other person(s) or entity(ies), including foreign entity(ies) (funding party) with the understanding (whether recorded in writing or otherwise) that the funding party shall ;

a) directly or indirectly lend or invest in other persons or entities indentified in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries) or

b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

xi) The Company does not have any other subsidiary or associate company in the Group and consequently, the Company is not required to prepare consolidated financial results as per applicable laws and regulations.

xii) The Company has not declared any dividend in the current year and in the previous year.

37 Subsequent Events

The financial statements of the Company for the year ended March 31,2026, were reviewed by the Audit Committee and were approved by the Board of Directors at their meeting held on April 13, 2026.