Notes to Accounts of Prerna Infrabuild Ltd.

Mar 31, 2025

xiii. PROVISIONS,CONTINGENT LIABILITIES AND CONTINGENT ASSETS:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present
obligation as a result of past events, it is probable that there will be an outflow of resources embodying economic
benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the
obligation. Provisions are measured at the best estimate of the expenditure required to settle the present
obligation at the Balance Sheet date. If the effect of the time value of money is material, provisions are
discounted to reflect its present value using a current pre-tax rate that reflects the current market assessments
of the time value of money and the risks specific to the obligation.

Contingent liabilities are disclosed when there is a possible obligation arising from past event, the existence of which will
be confirmed only by occurrence or non-occurrence of one or more uncertain future events not wholly within the control
of the company or a present obligation that arise from past event where it is either not probable that an outflow of
resources will be required to settle the obligation or a reliable estimate of the amount can not be made.

xiv. EARNINGS PER SHARE:

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by
the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted

earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number
of shares outstanding during the period are adjusted for the effects of all potential dilutive equity shares.

xv. CASH AND CASH EQUIVALENTS:

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short-term deposits with an
original maturity of twelve months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of unrestricted cash and short- term
deposits, net of outstanding bank overdrafts as they are considered an integral part of the Company''s cash
management. Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payment and item
of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and
financing activities of the company are segregated.

A. The carrying amounts of trade receivables, trade payables, current loans, capital creditors and cash and cash equivalents,
other financial assets, other financial liabilities are considered to be the same as their fair values, due to their short-term nature.

B. The fair values of non-current borrowings and non-current Loans are same as their amortized cost since the borrowings are
interest bearing at the prevalent market rate.

The Details of security offered for the secured loan taken are as follows:

A. Overdraft against fixed deposits are secured by the pledge of the fixed deposits financed through
overdraft financing viz FDOD

B. Loans in respect of Vehicals are secured by the hypothecation of the vehicles financed through loan
agreement viz Motor Cars.

Note-31: Segment Reporting:

Factors used to identify the entity’s reportable segment, including the basis of organization:

For management purposes, the company has only one reportable segment namely: Real Estate and
development in residential and commercial property. The Managing Director of the company acts as the Chief
Operating Decision Maker (“CODM”). The CODM evaluates the company’s performance and allocates resources
based on an analysis of various performance indicators.

3. Information about Major Customers:

Entity has entered the real estate transaction in the nature of sale of land at Survey No.782 & 783 at
Moje Vekra, Mehsana to Mr. Meet Mahendrabhai Patel resident of Dharnidhar Vas, Patel Vas,
Chandlodiya, Ahmedabad-382481of Rs.195.99 lakhs and Mausam Mahendrabhai Patel resident at
105, Patel Vas, Chandlodiya, Ahmedabad-382481 of Rs.137.61 Lakhs which is more than 10% of total
revenue of the entity for the financial year 2024-25.

(c) Basis of Measurement:

• Investments in subsidiaries, associates and joint ventures are accounted for at cost in accordance with Ind
AS 27, in the Separate Financial Statements.

• Impairment in value, if any, is assessed in accordance with Ind AS 36 and charged to the Statement of
Profit and Loss.

(d) Significant Judgments:

• The management has evaluated control as per Ind AS 110 to determine subsidiaries.

• Significant influence is determined in accordance with Ind AS 28.

(e) Impairment Testing:

At each reporting date, the Company assesses whether there is any indication that the investment in
subsidiaries or associates may be impaired.

(f) Fair Value Disclosures:

Though carried at cost, the fair value of unquoted investments has been disclosed in
accordance with Ind AS 107.

Notes

#1 Debt represents all liabilities.

#2 Earnings available for Debt service represents Profit After Tax Finance Cost Depreciation and Amortization
Loss/(profit) on sale of assets

#3 Debt Service represents Interest Principal Repayment Lease payments.

#4 Cost of goods sold represents construction material consumed during the during the year.

#5 Capital Employed represents Equity, external borrowings and Deferred tax liabilities.

#6 Revenue from Operations represents sale of services and other material sales.

#7 Construction expenses represents credit purchases during the year other direct construction
Expenses.

Note 36: Contingent Liabilities:

1 For AY 2017-18 from Income Tax Department has raised the demand of Rs. 593.,63
Lakh in assessment proceeding. Company has filed appeal with CIT(A) and is of
the opinion of getting success in appeal hence not provided in the books of account.

2 For AY 2022-23 Company has succeeded in assessment proceeding u/s 143(3),
however IT department has wrongly added deferred tax into the profit and raised
the demand of Rs.29.23 Lakh. Company has filed rectification application against
the said order. Hence nothing has provided in the books.

NOTE-37:There are no proceedings initiated or pending against the Company for holding any Benami Property under
the Benami Transactions (Prohibitions) Act, 1988.

NOTE-38 During the year Company has not traded or invested in Crypto Currency.

NOTE-39 The Company does not have any immovable property in Property, Plant & Equipment for which the title deeds of immovable property
are not held in the name of the company.

NOTE-40 Standard issued but not yet effective:

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, 2025, MCA has not notified any new standards or amendments to
the existing standards applicable to the Company.

See accompanying notes forming part of the financial statements In terms of our report
attached.

For Philip Fernandes & Co For and on behalf of the Board of Directors

Chartered Accountants
ICAI Firm Reg No: 128122W

Chairman & M.D. Managing Director

(Vijay C Shah): (S an ket V Shah)

DIN:00038062 DIN:00038121

Sd/- Sd/-

Proprietor

M.N. 125960 Whole-Time Director Company Secretary

Place : Ahmedabad (Nalini V Shah) ( Megha Shah)

Date : Sd/- Sd/-

DIN:00119538
Place :Ahmedabad

Date :

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Mar 31, 2024

xii. PROVISIONS,CONTINGENT LIABILITIES AND CONTINGENT ASSETS:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events, it is probable that there will be an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the Balance Sheet date. If the effect of the time value of money is material, provisions are discounted to reflect its present value using a current pre-tax rate that reflects the current market assessments of the time value of money and the risks specific to the obligation.

Contingent liabilities are disclosed when there is a possible obligation arising from past event, the existence of which will be confirmed only by occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company or a present obligation that arise from past event where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount can not be made.

xiii. EARNINGS PER SHARE:

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all potential dilutive equity shares.

xiv. CASH AND CASH EQUIVALENTS:

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short-term deposits with an original maturity of twelve months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of unrestricted cash and shortterm deposits, net of outstanding bank overdrafts as they are considered an integral part of the Company’s cash management. Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payment and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the company are segregated.

A. Overdraft against fixed deposits are secured by the pledge of the fixed deposits financed through overdraft financing viz FDOD

B. Loans in respect of Vehicals are secured by the hypothecation of the vehicles financed through loan agreement viz Motor Cars.

Note-30: Segment Reporting:

Factors used to identify the entity’s reportable segment, including the basis of organization:

For management purposes, the company has only one reportable segment namely: Real Estate and development in residential and commercial property. The Managing Director of the company acts as the Chief Operating Decision Maker (“CODM”). The CODM evaluates the company’s performance and allocates resources based on an analysis of various performance indicators.

3. Information about Major Customers:

Entity has entered the real estate transaction in the nature of sale of land at Survey No.86, TP No 64, Tragad to M/s Shiv Ashish Infra, a partnership firm having registered office at 501, Lilamani Corporate Height, Ramapir Tekro, Nava Vadaj (PAN:AEYFS0036A) of Rs.1700 Lakh which is more than 10% of total revenue of the entity for the financial year 2023-24.

Notes

#1 Debt represents all Habilties

#2 Earnings available for Debt service represents Profit After Tax Finance Cost

Depreciation and Amortization Loss/(profit) on sale of assets

#3 Debt Service represents Interest Principal Repayment Lease payments #4 Cost of goods sold represents construction material consumed during the during the year #5 Capital Employed represents Equity, external borrowings and Deferred tax liabilities #6 Revenue from Operations represents sale of services and other material sales.

#7 Construction expenses represents credit purchases during the year other direct construction expenses

Note 34: Contingent Liabilities:

1 For AY 2017-18 from Income Tax Department has raised the demand of Rs. 593.,63 Lakh in assessment proceeding. Company has filed appeal with CIT(A) and is of the opinion of getting success in appeal hence not provided in the books of account.

2 For AY 2022-23 Company has succeeded in assessment proceeding u/s 143(3), however IT department has wrongly added deferred tax into the profit and raised the demand of Rs.29.23 Lakh. Company has filed rectification application against the said order. Hence nothing has provided in the books.

NOTE-35 There are no proceedings initiated or pending against the Company for holding any Benami Property under the Benami Transactions (Prohibitions) Act, 1988.

NOTE-36 During the year Company has not traded or invested in Crypto Currency.

NOTE-37 The company does not have any immovable property in Property, Plant & Equipment for which the title deeds of immovable property are not held in the name of the company.

NOTE-38 Standard issued but not yet effective:

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, 2024, MCA has not notified any new standards or amendments to the existing standards applicable to the Company.

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Mar 31, 2018

Summary of Significant accounting policies and other explanatory information:

1 Nature of Principal Activities:

Prerna Infrabuild Limited (''the company'') is engaged primarily in the business of construction of residential and commercial complexes. The operation of the company span all aspects of real estate development, from the identification and acquisition of land, to land, to planning, execution, construction and marketing of projects. The Company is domiciled in India and its registered office is situated at Survey No "PRERNA", SURVEY NO.820/1, IN LANE OF PANCHVATI AUTO, S.G.ROAD, MAKARBA, AHMEDABAD.

2 Basis of accounting and preparation of financial statements

These financial statements are prepared in accordance with Indian Accounting Standard (‘IND AS’), under the historical cost convention on the accrual basis except for certain financial instruments which are measured at fair values, the provisions of the Companies Act, 2013 (''the Act'') (to the extent notified) and guidelines issued by the Securities and Exchange Board of India (SEBI). The (‘IND AS’) are prescribed under Section133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter.

Effective April 1, 2017, the Company has adopted all the (‘IND AS’) standards and the adoption was carried out in accordance with (‘IND AS’) 101 First time adoption of Indian Accounting Standards, with April 1, 2017 as the transition date. The transition was carried out from Indian Accounting Principles generally accepted in India as prescribed under Section133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 (IGAAP), which was the previous GAAP.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or are vision to an existing accounting standard requires a change in the accounting policy hitherto in use.

3 Use of estimates

The preparation of the financial statements in conformity with (‘IND AS’) requires the management to make estimates, judgments and assumptions. These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. The application of accounting policies that require critical accounting estimates involving complex and subjective judgments and the use of assumptions in these financial statements have been disclosed in Note no. 1.4. Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the financial statements.

Note 4: Segment Reporting:

Company has been carrying out construction activity and providing services of safe deposit vault. Since the business segment of safe deposit vault does not meet the basis criteria of treating the same as reportable segment, the management has decided to prepare the consolidated financial statement.

Note 5 Earnings Per Share

Net Profit after tax for the year has been used as the numerator and number of shares has been used as denominator for calculating the basic & diluted earnings per share

Note 6 Micro, Small and Medium Enterprises Development Act, 2006

In accordance with the Notification No. GSR 719 (E) date 16.11.2007, issued by the Ministry of Corporate Affairs, certain disclosures are required to be made relating to Micro and Small Enterprises as defined under the Micro, Small and Medium Development Act 2006. The Company is in the process of compiling relevant information from its suppliers about their coverage under the said Act. Since the relevant information is still not available, no disclosures have been made in the accounts.

Note 7 First Time Adoption of Indian AS:

The Company has adopted (‘IND AS’) with effect from 1st April 2017 with comparatives being restated. The figures for the previous period have been restated, regrouped and reclassified wherever required to comply with the requirement of (‘IND AS’) and Schedule III. The impact if any has been provided in the opening reserves of 1st April, 2016.

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Mar 31, 2016

Note Note (*): Some of the land being agriculture in nature was purchased in the name of directors. Recently the company has received 27 communication to the effect that the said agriculture land would not be converted into non agriculture in foreseeable future period. There being no commercial value to the company it has been revert back to the said directors at an acquisition price and is reflected in other adjustment in above.

Note 1: Segment Reporting:

Company has been carrying out construction activity and providing services of safe deposit vault. Since the business segment of safe deposit vault does not meet the basis criteria of treating the same as reportable segment, the management has decided to prepare the consolidated financial statement.

Note 2(a): Related party transactions Details of related parties:

Description of relationship Names of related parties

Key Management Personal-Chairman & Managing Dir. Vijay C Shah

Key Management Personal-Managing Director Sanket Vijay Shah

Key Management Personal-Whole Time Director Nalini V. Shah Note: Related parties have been identified by the Management.

Note 3 Micro, Small and Medium Enterprises Development Act, 2006_

In accordance with the Notification No. GSR 719 (E) date 16.11.2007, issued by the Ministry of Corporate Affairs, certain disclosures are required to be made relating to Micro and Small Enterprises as defined under the Micro, Small and Medium Development Act 2006. The Company is in the process of compiling relevant information from its suppliers about their coverage under the said Act. Since

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Mar 31, 2015

1 Received communication to the effect that the said agriculture land would not be converted into non agriculture in foreseeable future period. There being no commercial value to the company it has been revert back to the said directors at an acquisition price and is reflected in other adjustment in above.

Company has been carrying out construction activity and providing services of safe deposit vault. Since the business segment of safe deposit vault does not meet the basis criteria of treating the same as repotable segment, the management has decided to prepare the consolidated financial statement.

2 Micro, Small and Medium Enterprises Development Act, 2006

In accordance with the Notification No. GSR 719 ( E ) dt 16.11.2007, issued by the Ministry of Corporate Affairs, certain disclosures are required to be made relating to Micro and Small Enterprises as defined under the Micro, Small and Medium Development Act 2006. The Company is in the process of compiling relevant information from its suppliers about their coverage under the said Act. Since the relevant information is still not available, no disclosures have been made in the accounts.

Net Profit after tax for the year has been used as the numerator and number of shares has been used as denominator for calculating the basic & diluted earning per share.

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Mar 31, 2014

Note 1 Note (*): Some of the land being agriculture in nature was purchased in the name of directors Recently the company has received communication to the effect that the said agricuture land would not be converted into non agricuture in forseable future period.There being no commercial value to the company it has been revert back to the said directors at an acquisition priceandis reflected in other adjustment inabove.

Note 2 Contingent liabilities and commitments (to the extent not provided for)

Particulars As at As at 31 March, 2014 31 March, 2013 Rupees Rupees

(i) Contingent liabilities

(a) Order of the Superintendent of Stamps, Gandhinagar is received by the company 931,015.00 931,015.00

regarding stamp duty payable on amalgamation and transfer of ownership, which the company has not agreed to and want to chalange.Total Amount as per order Rs.1331015/-.Company has provided Rs.400000/-

(b) Company has received the demand notice for Asst Yr 2009-10 for Rs.449790/- against which company 818,197.00 818,197.00 paid Rs.225000/- and for balance company has filed an appeal with CIT (A).

Note 3: Segment Reporting:

Company has been carrying out construction activity and providing services of safe deposit vault. Since the business segment of safe deposit vault does not meet the basis criteria of treating the same as repotable segment, the management has decided to prepare the consolidated financial statement.

Note 4 Micro, Small and Medium Enterprises Development Act, 2006

In accordance with the Notification No. GSR 719 ( E ) dt 16.11.2007, issued by the Ministry of Corporate Affairs, certain disclosures are required to be made relating to Micro and Small Enterprises as defined under the Micro, Small and Medium Development Act 2006. The Company is in the process of compiling relevant information from its suppliers about their coverage under the said Act. Since the relevant information is still not available, no disclosures have been made in the accounts.

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Mar 31, 2013

Note 1 Note (*) : Some of the land being agriculture in nature was purchased in the name of directors.Recently the company has received communication to the effect that the said agricuture land would not be converted into non agricuture in forseable future period.There being no commercial value to the company it has been revert back to the said directors at an acquisition price and is reflected in other adjustment in above.

Note 2: Segment Reporting:

Company has been carrying out construction activity and providing services of safe deposit vault. Since the business segment of safe deposit vault does not meet the basis criteria of treating the same as repotable segment, the management has decided to prepare the consolidated financilal statement.

Note 3 Micro, Small and Medium Enterprises Development Act, 2006

In accordance with the Notification No. GSR 719 ( E ) dt 16.11.2007, issued by the Ministry of Corporate Affairs, certain disclosures are required to be made relating to Micro and Small Enterprises as defined under the Micro, Small and Medium Development Act 2006. The Company is in the process of compiling relevant information from its suppliers about their coverage under the said Act. Since the relevant information is still not available, no disclosures have been made in the accounts.

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Mar 31, 2012

Particulars As at As at 31 March, 2012 31 March, 2011 Rupees Rupees

Note 1 Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) Order of the Superintendent of Stamps, Gandhinagar is received by 931,015.00 the company regarding stamp duty payable on amalgamation and

transfer of ownership , which the company has not agreed to and want to chalange. Total amount as per order Rs.1331015/-.

Company has provided Rs.400000/-.

(b) Company has received the demand notices for Asst Yr 2006-07 of 2,775,630.00 2,775,630.00 Rs.7,00,919/- and for Asst Yr 2007-08 Rs.20,74,711/- from Income Tax

Department, which the company has not accepted and applied for rectification of the same.

(c) Company has received the demand notice for Asst Yr 2009-10 for Rs.449790/- 224,790.00 - against which company has paid Rs.225000/- and for balance company has filed an appeal with CIT (A).

(d) Company has received the bill of Rs. 1168852/- from Uttar Gujarat Vij Company Ltd. 818,197.00 - towards use of electricty at site of Prerna Aura, Andej, Ta: Sanad, Dist: Ahmedabad. Company has went into appeal after paying Rs.350655/-

Note 2: Segment Reporting:

Company has been carrying out construction activity and providing services of safe deposit vault. Since the business segment of safe deposit vault does not meet the basis criteria of treating the same as repotable segment, the management has decided to prepare the consolidated financilal statement.

Note 3 Micro, Small and Medium Enterprises Development Act, 2006

In accordance with the Notification No. GSR 719 ( E )dt 16.11.2007, issued by the Ministry of Corporate Affairs, certain disclosures are required to be made relating to Micro and Small Enterprises as defined under the Micro, Small and Medium Development Act 2006. The Company is in the process of compiling relevant information from its suppliers about their coverage under the said Act. Since the relevant information is still not available, no disclosures have been made in the accounts.

Note 4 The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2010

I. OTHER NOTES :-

(i) Figures have been rounded off to the nearest multiple of rupee.

(ii) Figures of previous year have been regrouped and re-arranged wherever necessary.

(iii) Details of items 4C of Part II Schedule VI are not applicable.

(iv) There are no dues towards S.S.I.

(v) The disclosure of the quantitative details of sales, purchase, opening stock and closing stock is not applicable as the company is neither engaged in trading nor in manufacturing activity during the year.

(vi) Related Party disclosure:

a) List of Related Parties and relationships

A. Party Relation

Enterprises over which significant influence

- Prema Hospital Pvt. Ltd.

Mr. V.C. Shah - Managing Director

Mrs. N. V. Shah - Director Mr. S. V. Shah - Director

- Prerna Stock Brokers Pvt. Ltd.

Mr. V. C. Shah - Managing Director

Mrs. N. V. Shah - Director Mr. S. V. Shah - Director

- Prerna Builders Ltd.

Mr. V. C. Shah - Managing Director

Mrs. N. V. Shah - Director Mr. S. V. Shah - Director

- Prerna Developers

Mr. S.V. Shah

B. Key Management Personnel

- Vijay C. Shah Chairman

- Sanket V. Shah Wholetime Director Finance

- Nalini V. Shah Wholetime Director Finance

- Swetal C. Parikh Wholetime Director Finance

C. Relatives of Key Management Personnel

- Sanket V. Shah (HUF) HUF of Mr. S.V. Shah

- Vijay C. Shah (HUF) HUF of Mr. V.C. Shah

- Chandulal D. Varia Father of Mr. V. C. Shah

- Niyati S. Shah Spouse of Mr. S.V. Shah

- Chandulal D. Varia (HUF) HUF of Father of Mr. V. C. Shah

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Mar 31, 2009

(i) The disclosure of the quantitative details of sales, purchase, opening stock and closing stock is not applicable as the company is neither engaged in trading nor in manufacturing activity during the year.

(ii) Related Party disclosure :

a) List of Related Parties and relationships

A. Party Relation

Enterprises over which

significant influence

-Prerna Hospital Ltd. Mr. V. C. Shah - Managing Director

Mrs. N. V. Shah Director

Mr. S. V. Shah - Director

- Prerna Stockbrockers Ltd. Mr. V. C. Shah - Managing Director

Mrs. N. V. Shah Director

Mr. S. V. Shah - Director

- Prerna Builders Ltd. Mr. V. C. Shah - Managing Director

Mrs. N. V. Shah Director

Mr. S. V. Shah - Director

- Prerna Developers Mr. S.V. Shah

B. Key Management Personnel

- Vijay C. Shah Chariman

- Sanket V. Shah Wholetime Director Finance

- Nalini V. Shah Wholetime Director Finance

C. Relative of key Management Personnel

- Sanket V. Shah (HUF) HUF of Mr. S. V. Shah

- Vijay C. Shah (HUF) HUF of Mr. V. C. Shah

- Chandulal D. Varia Father of Mr. V. C. Shah

- Niyati S. Shah Spouse of Mr. S.V. Shah

- Chandulal D. Varia (HUF) HUF of Father of Mr. V. C. Shah

(iii) Ther Companys primary business segment is developer of infrastructure. Based on the guiding principles given in Accounting Standard on" Segment Reporting" [(AS-17) issued by the Institute of Chartered Accoun tants of India], this activity falls within a single primary business segment and accordingly the disclosure requirements of AS-17 in this regard are not applicable.