t) Provisions and Contingent liabilities

A provision is recognised when the Company has a present obligation as a result of past events and it is
probable that an outflow of resources will be required to settle the obligation in respect of which a reliable
estimate can be made. Provisions (excluding retirement benefits) are discounted to their present value and are
determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are
reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

Contingent liabilities are disclosed in the Notes. 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.

Contingent assets are not recognised in the Financial Statements.

u) Segment Reporting

The company is primarily in the business of real estate development and related activities. Further most of the
business conducted is within the geographical boundaries of India.

In view of the above, in the opinion of the management and based on the organizational and internal reporting
structure, the company's business activities as described above are subject to similar risks and returns. Further,
since the business activities undertaken by the company are substantiating within India, in the opinion of the
management, the business environment in India is considered to have similar risks and returns. Consequently,
the company's business activities primarily represent a single business segment and the company's operations
in India represent a single geographical segment.

v) Borrowings

Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently
measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption
amount is recognised in profit or loss over the period of the borrowings using the effective interest method.
Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that
it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw
down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn
down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility
to which it relates.

Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged,
cancelled or expired. The difference between the carrying amount of a financial liability that has been
extinguished or transferred to another party and the consideration paid, including any non-cash assets
transferred or liabilities assumed, is recognised in profit or loss as other gains/(losses).

Where the terms of a financial liability are renegotiated and the entity issues equity instruments to a creditor to
extinguish all or part of the liability (debt for equity swap), a gain or loss is recognised in profit or loss, which
is measured as the difference between the carrying amount of the financial liability and the fair value of the
equity instruments issued.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer
settlement of the liability for at least 12 months after the reporting period. Where there is a breach of a material
provision of a long-term loan arrangement on or before the end of the reporting period with the effect that the
liability becomes payable on demand on the reporting date, the entity does not classify the liability as current,
if the lender agreed, after the reporting period and before the approval of the financial statements for issue,
not to demand payment as a consequence of the breach.

w) Borrowing Cost

Borrowing cost relating to acquisition/construction development of qualifying assets of the company are
capitalized until the time all substantial activities necessary to prepare the qualifying assets for their intended
use are complete. A qualifying asset is one that necessarily takes substantial period of time to get ready for its
intended use/sale. Borrowing cost that are attributable to the project in progress and qualifying land advances
as well as any capital work in progress are charged to respective qualifying asset . All other borrowing costs,
not eligible for inventorisation /capitalization, are charged to statement of profit and loss.

x) Trade and Other Payables

These amounts represent liabilities for goods and services provided to the Company prior to the end of
financial year which are unpaid. The amounts are unsecured. Trade and other payables are presented as
current liabilities unless payment is not due within 12 months after the reporting period. They are recognised
initially at their fair value and subsequently measured at amortised cost using the effective interest method.

y) Non-current assets (or disposal groups) held for sale

Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered
principally through a sale transaction rather than through continuing use and a sale is considered highly
probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for
assets such as deferred tax assets, assets arising from employee benefits, financial assets and contractual rights
under insurance contracts, which are specifically exempt from this requirement.

An impairment loss is recognised for any initial or subsequent write-down of the asset (or disposal group) to
fair value less costs to sell. A gain is recognised for any subsequent increases in fair value less costs to sell of
an asset (or disposal group), but not in excess of any cumulative impairment loss previously recognised.

A gain or loss not previously recognised by the date of the sale of the non-current asset (or disposal group) is
recognised at the date of de-recognition.

Non-current assets (including those that are part of a disposal group) are not depreciated or amortised while
they are classified as held for sale. Interest and other expenses attributable to the liabilities of a disposal group
classified as held for sale continue to be recognised.

Non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are
presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified as
held for sale are presented separately from other liabilities in the balance sheet.

z) Trade Receivables

Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course
of business. Trade receivables are recognised initially at the amount of consideration that is unconditional
unless they contain significant financing components, when they are recognised at fair value. The Company
holds the trade receivables with the objective to collect the contractual cash flows and therefore measures
them subsequently at amortised cost using the effective interest method, less loss allowance.

aa) Government Grants

Grants from the government are recognised at their fair value where there is a reasonable assurance that the
grant will be received and the Company will comply with all attached conditions.

Government grants relating to income are deferred and recognised in the profit or loss over the period necessary
to match them with the costs that they are intended to compensate and presented within other income.

Government grants relating to the purchase of property, plant and equipment are included in non-current
liabilities as deferred income and are credited to profit or loss on a straight-line basis over the expected lives
of the related assets and presented within other income.

ab) Dividends

Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at
the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the
reporting period.

ac) Joint Operations

The Company recognises its direct right to the assets, liabilities, revenue and expenses of joint operations and
its share of any jointly held or incurred assets, liabilities, revenue and expenses. These have been incorporated
in the financial statements under the appropriate headings.

ad) Investment properties

Property that is held for long-term rental yields or for capital appreciation or both, and that is not occupied
by the Company, is classified as investment property. Investment property is measured initially at its
cost, including related transaction costs and where applicable borrowing costs. Subsequent expenditure is
capitalised to the asset's carrying amount only when it is probable that future economic benefits associated
with the expenditure will flow to the company and the cost of the item can be measured reliably. All other
repairs and maintenance costs are expensed when incurred. When part of an investment property is replaced,
the carrying amount of the replaced part is derecognised.

Investment properties other than land are depreciated using straight line method over the estimated useful life.

ae) New amendment issued but not effective

The Ministry of Corporate Affairs has vide notification dated 31 March 2023 notified Companies (Indian
Accounting Standards) Amendment Rules, 2023 which amends certain accounting standards, and are effective
1 April 2023.

These amendments are not expected to have a material impact on the company in the current or future
reporting periods and on foreseeable future transaction.

af) Reclassification consequent to amendments to schedule III

The Ministry of Corporate Affairs amended the schedule III to the Companies Act, 2013 on 24 March 2021
to increase the transparency and provide additional disclosures to users of financial statements. These
amendments are effected 1 April 2023.

Consequent to above, the company has changed the classification/ presentation of current maturities of long¬
term borrowing in the current year.

The current maturities of long-term borrowing (including interest accrued) has now been included in the
"Current borrowings" line items. Previously, current maturity of long term borrowings and interest accrued
were included in 'other financial liabilities' line items.

* Advances to Joint Venture

The Company had advanced aggregate amount of INR 3,030 lakhs (Prev. Yr. INR 3,030 lakhs) to the Joint Venture company
for procurement of land, mainly in the year 2012-13. The said joint venture company in turn had advanced INR 3,000 lakhs to
other entities of joint venture partner towards procurement of land and development rights. The Company has entered into a
supplementary memorandum of understanding with the concerned parties to transfer the land directly to the Company, on
the selection and jointly earmarking the area of the land. The joint venture company has also obtained the confirmation of such
advances. On the completion of the transfer of the land in the name of the Company, the shares held by the Company will be
transferred to the other partner / nominee.

In addition to above, the Company has to recover an amount aggregating to INR 240.18 lakhs (prev. Yr. INR 240.18 lakhs) from
the joint venture company which would also be appropriated towards the consideration of land as mentioned above and ac¬
cordingly, the same is also considered good and recoverable.

# Advance to Jointly controlled entities and subsdiaries.

The Company had advanced as partners current account an amount aggregating to 5180.46 lakhs INR (Prev. Yr. INR 6440.95
lakhs) to the jointly controlled entities and subsdiaries. W.e.f 21.02.2024 the company had retired from CHAITANYA ANANT
NIRVAN LLP as such the LLP is no more JCE of the company.

** Andheri Project

The Company has made an understanding with the other company to jointly develop a slum rehabilitation project at Andheri
(E) and paid refundable earnest money deposit of INR 1,700.00 lakhs (Prev. Yr.INR 1,700.00 lakhs). Company has filed recovery
suit & the matter is pending at High Court.

** Advances and other incidentals for various project include

In addition to above project, the company had given few advances to the parties for purchase of land and is in the process of
preliminary evaluation of certain redevelopment projects / purchase of land in and around MMRDA region.

* Prepaid loan processing and other charges of INR 219.31 lacs (Prev. Yr. INR 219.31 lacs ) adjusted against borrowings.

** Company debentures of Rs. 150 cr plus corresponding redemption premium were due for redumption on 11th February

2025 which are up-paid.

Loan from bank

I. Term loan from HDFC Limited (HDFCL) secured by

a) First charge by way of mortgage on land bearing survey no. 28, 29/2A, 29/2B, 30/2, 30/3A, 30/4A, 30/4B, 30/8B,
30/8C, 31/11, 29/1, 30/1, 30/3B, 30/3C and 30/3D at Joveli village in Ambarnath taluka of Thane district admeasuring
in aggregate 23 acres.

b) First charge by way of hypothication of receivables arising from the project on the above mentioned land.

c) Irrevocable and unconditional personal guarantee of Mr. Rohitashwa Poddar - Managing Director."

Term Loan from NBFC

Securities -

I. Term Loan From STCI Finance Limited (STCI)

For Chembur :

(a) Term loan from STCI is secured by exclusive charge by way of mortgage on the project development rights along with
structures being building thereon (present and future) and TDR (if any) of the project located at CTS No. 828(part) &
1504/A(part) Subhash Nagar Road, Sanjay Nagar, Chembur (W), Mumbai - 400071.

(b) Exclusive charge on all movable and current assets (both present and future) including project receivables/ future
receipts pertaining to the project along with escrow of the same.

(c) Irrevocable and unconditional personal guarantee of Mr. Rohitashwa Poddar - Managing Director in full.

For Mharal:

(a) Term loan from STCI is secured by exclusive charge by way of mortgage on the project development rights along with
structures being building thereon (present and future) and TDR (if any) of the project located at Survey No. 9/1B, 9/2,
9/3, 10, 11/1 & 11/2 Village Mharal, Tal. Kalyan, District Thane -

(b) Exclusive charge on all movable and current assets (both present and future) including project receivables/ future
receipts pertaining to the project along with escrow of the same

(c) Irrevocable and unconditional personal guarantee of Mr. Rohitashwa Poddar - Managing Director in full.

Additional Security:

First exclusive charge by way of martgage of land situated at Survey No. 78 Hissa No. 2 and Hissa No. 4, Survey No. 9

Hissa No. 2 at village Chamtoli and Survey No. 29, Hissa No. A/11 at village Dahivali Taluka Ambarnath Dist Thane
admeasuring in area aggregate to 13,966 sq mt. "

II. Term loan from Indiabulls Limited (IBL) secured by

a) First charge by way of mortgage on land bearing CTS no. 538, (1 to 11), 538 (part), 539(1 to 160) at Village Pahadi
Goregaon, Mumbai admeasuring in aggregate 14,983.10 Sq. Mtrs.

b) First charge by way of hypothication of receivables arising from the project on the above mentioned land.

c) Irrevocable and unconditional personal guarantee of Mr. Rohitashwa Poddar - Managing Director
Additional Security:

First exclusive charge by way of martgage of land situated at Survey No. 70, Village Ghrpoli, Taluka Karjat Dist Raigad
inventory in total 18 shops.

First exclusive charge by way of martgage of land situated at Survey No. 76/1, Village Ghrpoli, Taluka Karjat Dist Raigad
ad measuring area 3460 sq. mtrs.

During the year, IBL sold a property bearing CTS no. 538, (1 to 11), 538 (part), 539(1 to 160) at Village Pahadi Goregaon,
Mumbai admeasuring in aggregate 14,983.10 Sq. Mtrs through auction for Rs. 56.10 cr which is apporationed towards
outstanding principal and interest."

III. Term Loan I from Aditya Birla Finance Limited (ABFL) is secured by of mortgage of unit 4 owned by the Company and
unit no. 03,05 & 06 owned by the related parties i.e. Poddar Amalgmated Holdings Private Limited, Janpriya Traders
Limited and Brite Merchants Limited respectively, at Mathuradas Mill Compound, Lower Parel, Mumbai. These related
parties have secured the loan by acting as co-borrower.

IV. Term Loan II from Aditya Birla Finance Limited is secured by

(a) First and exclusive charge by way of registered mortgage are Land with present and proposed construction there on
of the project ""Poddar Samruddhi Evergreen"" situated at Gut no. 4(part), Gut no.7 in village Badlapur, Ambarnath
Taluka, Maharashtra- 421503.

(b) First and exclusive charge by way of hypothecation on all present and future receivable from the project mantioned in
case above.

(c) Mr. Dipak Poddar and Mr. Rohitashwa Poddar, Managing Director has secured the loan as co-borrower.

Terms of repayment and interest -

I. STCI loan is repayable in 12 equal monthly installment starting from March, 2023. The last installment is due in
February, 2024. Rate of interest is 12% and is payable monthly.

II. HDFCL loan is repayable in 7 equal instalment starting from April 2024. Last instalment is due in October 2024. Rate
of interest is linked with lenders CFPLR

III. Term loan I from Aditya Birla Finance Limited is repayable in 60 equal monthly installment including interest on the
same. The rate of interest is linked with lenders Long Term Reference Rate Starting from December, 2021 and the last
installment will be due in November 2026.

IV. Term loan II from Aditya Birla Finance Limited is repayable in 6 equal quaterly instalment stating from September,
2023 and the last installment will be also in December 2024. The interest rate is linked to lenders Term Reference Rate
and is payable monthly.

Current maturities of non current borrowings

9 % Redeemable non convertible debentures

Securities for I and II :

(a) 9 % Redeemable non convertible debentures are secured by first charge by way of mortgage over land

i. bearing survey no 9/1B, 9/2, 9/3, 10, 11/1 & 2 at Mharal village in Kalyan taluka of Thane district admeasuring in
aggregate 17 acres.

ii. All those Land Parcel situated at Survey no 40 Hissa No 2, Survey No 40 Hissa No 3 and Survey No 40 Hissa No 4 total
admeasuring 12,930 sq mt. at Village Mohili, Taluka Kalyan, Dist Thane.

iii. All that piece and parcel of land bearing Gat No. 1 admeasuring 10,190 square meters or thereabouts situate in Village
Surekhar, Taluka Alibaug, District Raigad within the limits of Raigad Zilla Parishad and Group Grampanchayat
Awas, of Registration District Raigad, Sub-Registration Alibaug alongwith an old house constructed prior to 1986
admeasuring 4745 square feet equivalent to 441 square meters bearing Awas Grampanchayat No. 767.

iv. All those pieces and parcels of land bearing Survey No.13/3 admeasuring 248 square meters, Survey No. 3 and Hissa
No. 4 admeasuring 2660 square meters, and Survey No. 34 and Hissa No. 6 admeasuring 3000 square meters, Survey
No.5 and Hissa No. 3 admeasuring to 2960 square meters , Survey No. 5 and Hissa No. 5 admeasuring to 2580
square meters, Survey No. 34 and Hissa No. 3 admeasuring to 5690 situate lying and being at Village Dahivali, Taluka
Ambarnath, District Thane

v. All those pieces and parcels of land bearing Survey No.9/5 admeasuring 1060 square meters, Survey No. 82 and
Hissa No. 1 admeasuring 3720 square meters, and Survey No. 78 and Hissa No. 1 admeasuring 114 square meters,
Survey No. 5 and Hissa No. 2 admeasuring to 2020 square meters , Survey No. 5 and Hissa No. 7 admeasuring to 1300
square meters, Survey No. 78 and Hissa No. 6 admeasuring to 4450 square meters and Survey No. 78 and Hissa No. 8
admeasuring to 2430 square meters situate lying and being at Village Chamtoli, Taluka Ambarnath, District Thane

vi. Survey No. 31 and Hissa No. 9 admeasuring to 860 square meters situate lying and being at Village joveli, Taluka
Ambarnath, District Thane

vii. All those Land Parcel situated at Survey no 128 Hissa No 5/1, total admeasuring 5800 sq mt. out of 13,200 sq mt at
Village Dhyari, Taluka Haveli, Dist Pune on the company entitlement of area admeasuring 33703 sq ft (net usable
carpet area to be constructed on the property.

(b) Secured by second charge by way of mortgage over land

(i) bearing survey no 28, 29/2A, 29/2B, 30/2, 30/3A, 30/4A, 30/4B, 30/8B, 30/8C, 31/11, 29/1, 30/1, 30/3B, 30/3C and
30/3D at Joveli village in Ambarnath taluka of Thane district admeasuring in aggregate 23 acres.

(ii) Second charge on land bearing CTS no. 62, 62/1 to 18, 63, 63/1 to 217, 64 and 64/1 to 12 of village Akurli Road,
Kandivali East, Mumbai admeasuring in aggregate to 6748 sq mt.

(c) Irrevocable and unconditional personal guarantee of Mr. Rohitashwa Poddar - Managing Director.

Terms of repayment and interest for I :

Repayable in 3 equal half yearly instalments starting from March 2023. Last instalment is due in March 2024. The internal
rate of return (IRR) will be 17.50% per annum plus 1% one time additional interest to the debenture holders. Interest will
accrue from the date of issue however servicing coupon payment have been started from September 2019 on quarterly basis
however after moratorium, new coupon interest payment will start from June 2021 on quarterly basis.

Terms of repayment and interest for II:

Repayable in 3 equal half yearly instalments starting from February 2024. Last instalment is due in February 2025. The
internal rate of return (IRR) will be 17.50% per annum plus 1% one time additional interest to the debenture holder. Interest
will accrue from the date of issue however servicing coupon payment have been started from February 2020 on quarterly
basis however after moratorium, new coupon interest payment will start from June 2021 on quarterly basis.

Unsecured loan from related parties

Terms of repayment and interest:

The loan is repayable on demand.

Inter Corporate Deposits from Venktesh Investment and Trading Company Private Limited is secured by way first
ranking charge by Mortgage on land , building and structures on CTS no. 62, 62/1 to 18, 63, 63/1 to 217, 64 and 64/1 to 12
of village Akruli at Kandivali East, Mumbai including related rights like FSI, development rights etc. It is also secured by
unconditional and irecoverable personal guarantee of Mr. Rohitashwa Poddar- Managing Director.

Terms of repayment and interest- Repayment in single bullet payment dues in June, 2024. Rate of Interest is 17% per
annuam and payable on quaterly basis.

Note 33 - Contingent liabilities and commitments
a. Pending litigations

(i) Indiabulls Housing Finance Limited has filed a petition against Poddar Housing and Development
Limited dated 25th June, 2024 having Filing No. 2709138062072024, Registration No. C.P.(IB)/721/
MB/2024 & STCI Finance Ltd. has filed petition against Poddar Housing and Development Limited dated
13th February, 2024 having Filing No. 2709138017202024 , Registration No. C.P.(IB)/109/MB/2024, which
are contested by the company.

(ii) In case of Bhivpuri project, certain occupants and four societies out of 12 societies of the said project have
filed criminal complaint against the Company in the matter of occupation certificate issued by the Gram
panchayat in 2014, erroneously, claiming it should have been issued by the Collector. The Company has
made necessary applications for re approval of the OC as required and also contesting the matter suitably
in the concerned court.

(iii) During the year, some vendors have issued notice under section 138 of Negotiable Instruments Act, 1881.
The management has appropriately responded to the notices and is in discussion with the vendors to
withdraw the notices, wherever pending.

Note 34 - Micro, Small and Medium Enterprises

The Company has not received any intimation from its suppliers regarding their status under the Micro, Small and
Medium Enterprises Development Act, 2006. Hence, disclosures, if any, relating to the amounts unpaid as at the year
end together with interest paid/payable as required under the said Act have not been given.

Note 35 - Corporate social responsibility

As per the provisions of Section 135 of the Companies Act 2013, the Company was required to contribute an amount
of INR Nil lakhs towards CSR activities.

Note 36 - Segment reporting

The Company operates only in 'construction, development and sale of real estate' segment and operates only in
India accordingly segment related information is as reflected in the financial statements

Note 37 - Other notes

(i) During the previous year CEO & CFO of the Company resigned on 22nd Nov. 2022 due to health and personal
reasons. One of the Independent Director also resigned on 14th Feb. 2023 due to health and personal reasons.
New Independent Director was appointed on 23rd May 2023 to fulfill the vacancy caused by the resignation of
one of the Independent Director. New CFO was appointed by the Company on 23rd May 2023 subsequently
resigned from the post of CFO for better opportunity in overseas Company. During the period some of the
senior employees in the Accounts and Finance Department including the CFO & CEO resigned for their better
prospects. On 23rd Aug. 2023 CS and CO of the Company resigned for better career opportunity. On 4th Sept.
2023, new CFO, CS and CO of the Company was appointed and the same was intimated to the Stock Exchanges.
Changes in KMP and resignation of employees have resulted in considerable delay in completion of Finalisation

of accounts. Considering the above, the Company applied to ROC for extention of time limit to hold AGM of the
Company for FY 2023-24. The company has dealyed in holding AGM for FY 2023-24.

(ii) The company's loan with IndiaBulls Housing Finance Limited of Rs 5500 Lakhs (principal), accrued interest of
Rs. 185.94 Lakhs & default interest of Rs 175.90 Lakhs having maturity on 5th November, 2025 was settled by
sale of mortgaged property valued at Rs. 56. 10 crores. The India Bulls has demanded balance of Rs. 4.54 crore
which is being contested by the Company. The outstanding demand is accounted for in the books and remains
outstanding as on 31st March, 2024.

(iii) The Management of the Company has assessed its financial position, including expected realization of assets
and payment of liabilities including borrowings, and believes that sufficient funds will be available to pay¬
off the liabilities through availability of land bank and projects under work in progress to meet its financial
obligations in atleast 12 months from the reporting date.

Note 40 - Financial risk management

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 Managing Board.

Market risk is the risk of loss of future earnings, fair values 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, equity prices
and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive
financial instruments including investments and deposits, receivables, payables and loans and borrowings.

A. Market Risk- Price Risk

(i) Exposure

The Company's exposure to equity and units of mutual funds price risk arises from investments held by the Company
and classified in the balance sheet at fair value through OCI/P&L. To manage its price risk arising from investments,
the Company diversifies its portfolio. Diversification of the portfolio is done in accordance with the limits set by the
Company.

(ii) Sensitivity

The table below summarizes the impact of increases/(decreases) of the BSE index on the Company's equity and Gain/
(Loss) for the period. The analysis is based on the assumption that the index has increased by 5 % or decreased by 5
% with all other variables held constant, and that all the Company's equity instruments moved in line with the index.

B. Market Risk- Interest rate risk

(i) Exposure

Interest rate risk is the risk that the fair value of future cash flows of the financial instruments will fluctuate because
of changes in market interest rates. 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.

(ii) Sensitivity

According to the Company's interest rate risk exposure is only for floating rate borrowings. For floating rate liabilities, the
analysis is prepared assuming the amount of the liability outstanding at the end of the reporting period was outstanding
for the whole year. A 50 basis point increase or decrease is used when reporting interest rate risk internally to key
management personnel and represents management's assessment of the reasonably possible change in interest rates.

C. Credit risk management

For banks and financial institutions, only good rated banks/institutions are accepted.

For other financial assets, credit risk arises from the possibility that the counter party may not be able to settle their
obligations as agreed. To manage this, the Company periodically assesses financial reliability of customers and other
counter parties, taking into account the financial condition, current economic trends, and analysis of historical bad debts
and ageing of financial assets. Individual risk limits are set and periodically reviewed on the basis of such information.
The Company considers the probability of default upon initial recognition of asset and whether there has been a significant
increase in credit risk on an ongoing basis through each reporting period. To assess whether there is a significant increase
in credit risk the Company compares the risk of default occurring on asset as at the reporting date with the risk of default
as at the date of initial recognition. It considers reasonable and supportive forwarding-looking information such as:

Actual or expected significant adverse changes in business,

Actual or expected significant changes in the operating results of the counter-party,

Financial or economic conditions that are expected to cause a significant change to the counter-party's ability to meet its
obligations,

Significant increase in credit risk on other financial instruments of the same counter-party,

Significant changes in the value of the collateral supporting the obligation or in the quality of the third-party guarantees
or credit enhancements.

Financial assets are written off when there is no reasonable expectations of recovery, such as a debtor failing to engage
in a repayment plan with the Company. Where loans or receivables have been written off, the Company continues to
engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognized
as income in the statement of profit and loss.

The Company measures the expected credit loss of trade receivables, loans and advances from individual counterparty
based on historical trend, industry practices and the business environment in which the entity operates. Loss rates are
based on actual credit loss experience and past trends.

Based on the analysis the Company has already provided for trade and other receivables and same has been disclosed
in financial statements.

D. Liquidity risk

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability
of funding through an adequate amount of committed credit facilities to meet obligations when due and to close out
market positions. Due to the dynamic nature of the underlying businesses, Company treasury maintains flexibility
in funding by maintaining availability under committed credit lines. Management monitors rolling forecasts of the
Company's liquidity position (comprising the undrawn borrowing facilities below) and cash and cash equivalents on
the basis of expected cash flows.

Note 41 Capital risk management
(a) Risk management

The Company aim to manages its capital efficiently so as to safeguard its ability to continue as a going concern and to
optimise returns to our shareholders.

The capital structure of the Company is based on management's judgment of the appropriate balance of key elements
in order to meet its strategic and day-to-day needs. We consider the amount of capital in proportion to risk and manage
the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets. In
order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders,
return capital to shareholders or issue new shares.

The Company's policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain
investor, creditors and market confidence and to sustain future development and growth of its business. The Company
will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

Note 1:

Determination of revenue whether over time (Percentage Completion Method) or at a point in time (Project Completion Method) necessarily
involves making judgment as to when the performance obligation under the contracts with customers is satisfied. Based on the management
assessment, the Company is recognising revenue for its projects - Poddar Riviera, Kalyan and Poddar Wondercity, Badlapur in phased
manner as per point in time i.e. project completion method and with respect to old ongoing projects - Poddar Spraha Diamond, Chembur
and Poddar Samruddhi Evergreens, Badlapur as per over time i.e. percentage completion method.

Note 45 - Debenture redemption reserve

During the year the company has created debenture redemption reserve of INR Nil (previous year INR Nil lakhs)

Note

Previous year figures are regrouped/re-arrenged whoever necessary

For Bansal Bansal & Co. For and on behalf of the Board of Directors

Chartered Accountants PODDAR HOUSING AND DEVELOPMENT LIMITED

Firm's Registration Number:100986W CIN: L51909MH1982PLC143066

Jatin Bansal (Partner) Richard Wilson Rohitashwa Poddar

Membership No.:135399 Non-Executive Chairman Managing Director

DIN: 10577178 DIN: 00001262

Place : Mumbai Haroon Mansuri

Dated: 29th April, 2025 Chief Financial Officer &

Company Secretary