Notes to Accounts of Rodium Realty Ltd.

Mar 31, 2024

7 Provisions, Contingent Liabilities and Contingent Assets

Provisions arc rerognised when there is a present legal or constructive obligation as a result of a past event and it is
probable [i.e. more likely than not) that 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, Such provisions are determined
based on management estimate of the amount required to settle the obligation at the balance sheet date. When the
Company expects some or all of a provision to be reimbursed, the reimbursement is recognised as a standalone asset
only when the reimbursement is virtually certain.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects,
the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is
recognised as a finance costs

Present obligations arising tinder onerous contracts are recognised and measured as provisions. An onerous contract is
considered to exist when a contract under which Lhe unavoidable costs of meeting the obligations exceed the economic
benefits expected to be received from it.

Contingent Liabilities are disclosed on the basis of judgment of management/independent experts. These are reviewed
at each balance sheet date and are adjusted to reflect the current management estimate.

Contingent Assets are not recognized, however, disclosed tn Financial statement when inflow of economic benefits is
probable,

S Revenue Recognition

The Company derives revenues primarily from sale of completed property and proportionate revenue of property''
under development.

Completed Inventory Property

The sale of completed property constitutes a single performance obligation and that is satisfied at the point in time
when control transfers.

Inventory Property under Development

Contracts relating to the sale of property under development is considered as a single performance obligation because
it provides a significant service of integrating the goods and services (the inputs) into the completed property ;the
combined output) which the customer has contracted to buy

Revenue from Contracts with customers relating to property under development is recognised over time as it has
concluded that, at all times, it has an enforceable right to payment for performance completed (o date and it has no
alternative use for the said assset. Therefore, control transfers over time for these contracts

For contracts that meet the over lime revenue recognition criteria, performance is measured using an input method, by
reference to the costs Incurred to the satisfaction of a performance obligation (e g., resources consumed, labour hours
expended, costs incurred, time elapsed) relative to the total expected inputs to the completion of the property

Revenue from contract with customers is recognised upon transfer of control of promised Services to customers in an
amount that reflects the consideration the Company expects to receive in exchange for those services Revenue from
the sale of services is recognised at the point in time when control is transferred to the customer.

Use of significant judgements in revenue recognition

• Judgement is also required to determine the transaction price for the contract. The transaction price couJd be either a
fixed amount of Consideration m variable consideration with elements such a$ discounts. Any Consideration payable
to the customer is adjusted to the transaction price, unless it is a payment for a distinct product or service from the
customer. The estimated amount of variable consideration is adjusted in the transaction price only to the extent that it
is highly probable that a significant reversal tn the amount of cumulative revenue recognised will not occur and is
reassessed at the end of each reporting period.

The Company exercises judgement in determining whether the performance obligation is satisfied at a point in time or
over a period of time. The Company considers indicators such as how customer consumes benefits as services are
rendered or who controls the asset as it is being created or existence of enforceable right to payment for performance to
date and alternate use of such product or service, transfer of significant risks and rewards to the customer, acceptance
of delivery by the customer, etc.

Company collects and spends money towards mainiainenoe of the completed projects where society is yel to be
formed or where the affairs of the maintenance of building constructed by them has not been handed over to the
society. Revenue is recognized at a point in time when the bill is raised to the customer fat collection of maintain*!nee
charges

Interest income on Financial Assets as subsequently measured at amortized cost is recognised on a tune-proportion
basis using the HR method.

When a receivable is impaired, the Company reduces the carrying amount to its recoverable amount, being the
estimated future cash flows discounted at the original effective interest rate of the instrument, and continues
unwinding the discount as interest income.

9 Borrowing Costs

Borrowing cost includes interest and amortization of ancillary costs incurred in connection with the arrangement of
borrowing? with reference to the effective interest rate applicable to the respective borrowings.

Borrowing cost pertaining to development of long term projects are transferred to Construction work in progress, as
pari of the cost of the projects uptu the time all the activities necessary to prepare these projects fur its intended use or
sale are complete,

All other borrowing costs are recongrd.wd as expense in the period in which they are incurred

10 Employee Benefits
Short-term Employees Benefits

All short term employees benefits such as salaries, wages, allowances, performance incentive, employee welfare costs,
exgratia are recognised during the period in which the employee render services and are measured at undiscounted
amount expected to be paid when the Liabilities are settled.

Post-employment benefits

The Company provides the following post-employment benefits:

i) Defined benefit plans such as gratuity and

ii) Defined Contribution plans such as provident fund.

Defined benefits plans

The cost of providing defined benefit plans such as gratuity is determined on the basis of present value of defined
benefits obligation which is computed using the projected unit credit method with independent actuarial valuation
made at the end of each annual reporting period, which recognizes each period of service as given rise to additional
unit of employees benefit entitlement and measuring each unit separately to build up the final obligation.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and
the fair value of plan Assets. This cost is included in employee benefit expense in the Statement of Profit and Loss
except those included in cost of Assets as permitted.

Re-measurements comprising of actuarial gains and losses arising from experience adjustments and change in
actuarial assumptions, the effect of change in Assets ceiling (if applicable) and the return on plan asset (excluding net
interest as defined above) are recognised in other comprehensive income (OG) Except those included in cost of Assets
as permitted in the period in which they occur. Re-measurements are not reclassified to the Statement of Profit and
Loss in subsequent periods.

Service cost (including current service cost, past Service Cost, as well as gains and losses on Curtailments and
settlements) is recognised in the Statement of Profit and Loss except those included in cost of Assets as permitted in the
period in which they occur.

Defined Contribution Plans

Contributions to the Provident Fund arc made at a prc-determincd rale and charged to the statement of Profit and
Loss,

11 Income Taxes

Income tax expense represents the sum ol tax currently payable and deferred tax. Tax is recognized in the Statement
of Profit and Loss, except to the extent that it relates to items recognized directly in equity or in other comprehensive
income.

Current Tax

Current tax is the expected tax payable/ receivable on the taxable income/ los$ for the year using applicable tax rates
for the relevant period, and any adjustment to taxes in respect of previous years. Interest expenses and penalties, if
any, related to income tax are included in finance cost and oihei expenses respectively, Interest Income, if any, related
to Income lax is included in Other Income

Deferred Tax

Deferred lax ia recognised on temporary differences between the carrying amounts of Assets and Liabilities in the
balance sheet and the corresponding tax bases used in the computation of taxable profit. Deferred tax Liabilities are
generally recognised for all taxable temporary differences. Deferred tax Assets are generally recognised for alJ
deductible temporary differences, unabsorbed losses and unabsorbed depreciation to the extent that if is probable that
future taxable profits will be available against which those deductible temporary differences, unahorbed losses and
Unabsorbed depredation can be utilised. Such deferred tax Assets and liabilities are not recognised if the temporary
difference arises from initial recognition of Assets and Liabilities in a transaction that affects neither the taxable profit
nor the accounting profit.

The carrying amount of deferred tax Assets is reviewed at each balance sheet date and reduced to the extent that it is
no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax Assets and Liabilities are measured at the tax rates that are expected to apply in the period in which the
liability is settled or the asset realised, based on tax rates (and tax laws) that have beer enacted or substantively
enacted by the balance sheet date The measurement of deferred tax Liabilities and Assets reflects the tax consequences
that would Follow from the manner in which the Company expects, at: the reporting date, to recover or settle the
carrying amount of its Assets and Liabilities.

Deferred tax Assets and Liabilities are offset when there is a legally enforceable right to set off current tax Assets
against current tax Liabilities and when they relate to income taxes levied by the same taxation authority and the
Company intends to settle its current tax Assets and Liabilities on a ret basis,

12 Current versus Non-current classification

The Company presents Assets and Liabilities in the Balance Sheet based on current/non-current classification.

a) An asset is current when it is:

* Expected to be realized or intended to be sold or consumed in the normal operating cycle,

* Held primarily for the purpose of trading

* Expected to be realised within twelve months after the reporting period, or

* Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve
months after the reporting period-

All other Assets are classified as non-current.

b) A liability is current when:

* ft is expected to be settled in the normal operating cycle,

¦ It is held primarily for the purpose of trading,

* Jt is due to be settled within twelve months after the reporting period, or

* There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period.

All other Liabilities are classified as non''Ciurent

c) Deferred tax Assets and Liabilities are classified as Nan-current Assets and Liabilities.

d) The normal operating Cycle in respect of operation relating td under construction real estate project depends on
signing of agreement, size of the project, phasing of the project, type of development, proiect complexities, approvals
needed And realisation of project into cash And cash equivalents and range from 3 to 5 years. Accordingly project
related Assets And Liabilities have been classified into current And non-current based on operating cycle of respective
projects.

13 Earnings per Share:

Basic earnings per share is calculated by dividing the profit from continuing operations and total profit, both
attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding
during the year.

C Ministry of Corporate Affairs (MCA) vide notification dated 24th March 2021, has amended Schedule HI to the
Companies Act, 2013 to enltance the disclosure requirements in Financial statements. The Financial statements have
been prepared after incorporating the amendments to the extent they are applicable

D Recent accounting pronouncements

Ministry of Corporate Affairs (MCA) notifes new standards, ammendments 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 standard or ammendments to existing standards applicable to the Company

NOTE 27

A. CATTTAl MANAGEMENT

Fo: th* purpose of Company''s Capital m; capital includes Lsjued liquify CipilaJ, and Retired tarmriga attributable to the Equity Holders

cd the Company, The primary objivtive of the Company''* Capita] Mftn.ijtemcnt u to maximise the Shaft Holder Value

The Company manages its capital structure and makes adjustments in the light of chanijes m economic¹ renditions and requirements of the fmarvr_5J
povwwitj and to cuntlnue tfi * going cunosm To maintain or adjust the oipitil xinirfun!, the Company may adjust the dividend payment to
Rhanehold er*. Tie turn capita] to shareholders or issue new shares.

The Company morn tore-capiiif using a ratio of Nil Debt'' bo ''Equity''. Fur this purpose net debt w deftml u nnal borrowings If-ssCimh i< Bank
Balances and Other Current Investments.

The Company ''s Net Del* hr Equity Ratios are as toll jws:

B- FINANCIAL RISK MANAGEMENT

The Company''s prr.-^pe. Financial laabditien :.;mpr-.-j(: Loans and Boirvw-ngs, Trade and Gthe Fdyabtes, The main purpose ot these t inn;''..: jJ
Lubilibn is to finance the operatic™ of lie Company The principal Financial Anris include Trade aid Other Rcoivtbb, tnuntmmb in Mutual
The Company has assessed nwkel risk, credit risk and liquidity risk to its financial iiibiliiif5.

t| Muriel Rink

Market «!5k is trie nslc pj loss or to tore earrunB!, ItoJ values or casruwws mat may JiesiiJt Ijnm achange W tire puce of a tmanoal instrument, as a
remit of m tonal rules and ether pner rikkj. PinwciaL instruments affected by market risks, primarily mciuda loans A boiruwinp, inVestmmis and
other TECEivaijIeF, payables and barrewingp.

Interest Rate Rinks

Interest rate risk tin be either fair value interest rate or cash flow interest nte risk, Jw value merest rate risk is ihe ris* of changes in fair values qf
fixed inters* bearing Investments penalise of fluctuationt in the inlerent »H, Cash flow fartertst rets risk i» the ri*k iha! the future cash (tow* of floating
merest bearing investments will fluctuate because of fluctuation? in the interest rates

Exposure lo Interest rate risk

The Gompanys interest rate risk arises from borrowings, liorfowings issued at fixed rales exposes to iair value interest rate risk. The interest rate
pjofileaf the Company''s itib''rnt-btarinE finuivuil jnritnjmenli as reptirtoii to toe murjeeirenl of the Company Li as futtuwa

Fair valut sensitivity analysis forfixed-rilt instrument!

The Company does not account tor any fixed-rate financial asse-j. or financial liabiliiiw at lair value through profit nr loss. TVreJur^ a diangp In
interest rates it the reporting due would not iftori profit or loss.

Commodity Price Risk

The Company s aoii''.-iti&ire exposed to steel and cement price risk_s and therefore its overall risk uwjgemtnt program focuses on the volatile ns tore
of the fed and cement markd, thus seeking to nunimizepolentLai adverse effects on the group ? Grurcial pertomance on account of itxh volatility.
The Board reviews risk, nunigement policies.

Foreign Currency Risks

ruTTPnrr risk u-nnt material, as tttt Company''s primsiy busing?, arrivirirv are within fndrr and does not have significant exposure in toretgr. currency

in Credit Rc»k

Credit risk is the risk of financial Ion to the Compuny if s customer or counterparty to* financial instrutnak fob to meet its-mntractuaL obligations,
inJ atrsti principally from the Company''s receivab ,-.3 from customers and investments In debt st''Cimtius.

The-carrying amount of following Financial nurti wprcwmtfi the maximum credit exposure
Trade tod Other Receivable*

The Company r exposure to cmiii risk ir influenced toniftly by the indMihjiil duf&ncristirt of mch CUltwner. Hinder credit ru^ wnfi regard* to
trade receivable is almost negligjhk Ln case of its residential sale business as the satn-f is done in the fact ths: incase of its residential sell business rt
does nut handover possession till endue ou Islanding Is received
The Ageing of trade rweivijlfi is as follows:

Jn*‘«lto«ltl la Debt Sec aril it*, LtmJltd Liability FartncrthlpC, Leans to Related Tartlet end Project Depwit*

TV Company has nvettmants in rrutual funds, limited liability partnership firms and priced deposits. The acitlernern of such irscnirvnis 9 linked to
the completion of the res pectYe underlying project), Such Financial Aasete ere nut impaired as on the re porting, date.

Cash and Bank balances

The Company holds cash and cash equivalents with banks which ere having highest safety rankings and hence has e low credit nsk.

iii) Liquidity Risk

1 Jtpridity risk a thr risk thal the Company wsLI Cltrounlrr difficulty In mpcting thr nbti gatinni. a viixiurJ with in financial liabilities that are Killed by
delivering cash or another financial asset The Company''s approach to ounagirg liquidity is to ensure, as far as possible, that ifwi]J hasp sufficient
liquidity to meet its UabuLbcs when they era due, ¦infer both normal and stressed conditions, without incurring nnacrcplatic losses or flaking damage
to the Company''s reputation

Management monitors ratling forecasts of the Company''* liquidity position on the basis of expected cash ffcrwm, HiLs monitoring includes financial
ratios and tikes into atvount the nrcesnibility of cash and cash equivalents.

The Com par.v has access to hinds from debt markets through bank foan. The Company invests its surplus funds m bank fixed deposit and debt based
mutual fund*

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Mar 31, 2018

NOTE 1 (A) - FOOTNOTES TO THE RECONCILIATION OF EQUITY AS AT 1ST APRIL, 2016 AND 31ST MARCH, 2017 AND TOTAL COMPREHENSIVE INCOME FOR THE YEAR ENDED 31ST MARCH, 2017

i) FVTPL Financial Assets:

Under previous GAAP, the Company accounted for investments in unquoted mutual funds units at cost less provision for other than temporary diminution in the value of investments. Under Ind-AS, the investments are required to be classified and measured subsequently atf air value through profit or loss. Art he date oft ransiti’on to Ind-AS, difference between the fair value and GAAP carrying amount of Rs. 48,95,344 has been recognised in the retained earnings. The fair value loss of Rs. 2,76,313 as at 31st March, 2017 has been recognised in the statement of profit and loss.

ii) Other Payables:

Under previous GAAP, proposed equity dividend including Dividend Distribution Tax are recognised as a liability in the period to which they relate, irrespective of when they are declared. Under Ind-AS, equity dividend is recognised as a liability in the period in which iti s declared by the company (usually when approved by shareholders in a general meeting).

Accordingly, the liability of Rs. 3127277 for the year ended on 31st March, 2016 recorded for proposed equity dividend has been derecognised against retained earnings on 1st April, 2016.

iii) Defined Benefit Obligation:

Both under previous GAAP and Ind-AS, the Group recognised costs related to its post-employment defined benefit plan on an actuarial basis. Under Indian GAAP, the entire cost, including actuarial gains and losses, are charged to statement of profit and loss. Under Ind-AS, re-measurements comprising of actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions, the effect of change in asset ceiling (if applicable) and the return on plan assets (excluding neti nterest) are recognised immediately in the balance sheet with a corresponding debit or creditt o retained earnings through Other Comprehensive Income (OCI). Thus, the employee benefit costi s reduced by Rs. 4,57,299 (Net of Tax of Rs. 2,25,849) as at 31st March, 2017 and re-measurement losses on defined benefit plans has been recognised in the Other Comprehensive Incomes (net of tax)

iv) Other Comprehensive Income:

Under previous GAAP, the Company has not presented Other Comprehensive Income (OCI) separately. Hence, it has reconciled previous GAAP profit to profit as per Ind-AS. Further, Indian GAAP profit is reconciled to total comprehensive income as per Ind-AS.

v) Financial Liabilities & Related Cost

Under previous GAAP, 9% Cumulative Redeemable Preference Shares and dividend thereon were recognised as Equity and Appropriation from Retained Earnings respectively. However, as per Ind AS, as per the terms of issue of Preference Shares, the same has been reclassied as Financial Liabilities. Accordingly dividend thereon has been recognised as Finance Cost in the year in which it is paid.

vi) The Company has accounted for dividend on cumulative preference shares recognised as a financial liability as per Ind AS 109. Dividend has been accrued as part ofi nterest expense for the Financial Year ending 31st March, 2017 and 31st March, 2018

NOTE 2

A. CAPITAL MANAGEMENT

For the purpose of Company’s Capital Management, capital includes Issued Equity Capital, Securities Premium, and all other Equity Reserves attributable to the Equity Holders oft he Company. The primary objective oft he Company’s Capital Managements s to maximise the Share Holder Value.

The Company manages its capital structure and makes adjustments in the light of changes in economic conditions and requirements of the financial covenants and to continue as a going concern. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares.

The Company monitors capital using a ratio of ‘Net Debt’ to ‘Equity’. For this purpose, net debt is defined as total borrowings less Cash & Bank Balances and Other Current Investments.

The Company’s net debt to equity ratios are as follows:

B. FINANCIAL RISK MANAGEMENT

The Company’s principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the operations of the Company. The principal financial assets include trade and other receivables, investments in mutual funds and cash and short term deposits.

The Company has assessed market risk, credit risk and liquidity risk to its financial liabilities.

i) Market Risk

Market Risk is the risk of loss of future earnings, fair values or cash flows that may result from a change in the price of a financial instrument, as a result of interest rates, foreign exchange rates and other price risks. Financial instruments affected by market risks, primarily include loans & borrowings, investments and foreign currency receivables, payables and borrowings.

Interest Rate Risks

Interest rate risk can be either fair value interest rate 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 rate. 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

The Company’s interest rate risk arises from borrowings. Borrowings issued at fixed rates exposes to fair value interest rate risk. The interest rate profile of the Company’s interest-bearing financial instruments as reported to the management of the Company is as follows.

Fair value sensitivity analysis for fixed-rate instruments

The Company does not accountf or 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.

Commodity Price Risk

The Company’s activities are exposed to steel and cement price risks and therefore its overall risk management program focuses on the volatile nature of the steel and cement market, thus seeking to minimize potential adverse effects on the group’s financial performance on account of such volatility.

The Board reviews risk management policies.

Foreign Currency Risks

Currency risk is not material, as the company’s primary business activities are within India and does not have significant exposure in foreign currency.

ii) 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 and investments in debt securities.

The carrying amount of following financial assets represents the maximum credit exposure.

Trade and other receivables

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However credit risk with regards to trade receivable is almost negligible in case of its residential sale business as the same is done to the fact that in case of its residential sell business it does not handover possession till entire outstanding is received.

The ageing of trade receivbles is as follows:

Investments in Debt Securities, Limited Liability Partnerships, Loans to Related Parties and Project Deposits

The Company has investments in mutual funds, limited liability partnership firms, loans to related parties and project deposits. The settlement of such instruments is linked to the completion of the respective underlying projects. Such Financial Assets are not impaired as on the reporting date.

Cash and Bank balances

The Company holds cash and cash equivalents with banks which are having highest safety rankings and hence has a low credit risk.

iii) 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. This monitoring includes financial ratios and takes into account the accessibility of cash and cash equivalents.

The Company has access to funds from debt markets through bank loan, commercial papers, fixed deposits from public and other debt instruments. The Company invests its surplus funds in bank fixed deposit and debt based mutual funds.

(iv) There are no transactions with single external customer which amounts to 10% or more of the Company’s revenue.

Note:-

(I) The Company is engaged interalia in the “Real Estate Development and Services”. These in the context of Ind AS 108 “ Operating Segment” are considered to constitute one single primary segment. The Company does not have any operations outside India. Hence disclosure as envisaged in the Accounting Standard is not required. Non-reportable segments have not been disclosed as unallocated reconciling item in view of their materiality. In view of the above, primary and secondary reporting disclosures for business/geographical segment are not applicable.

c) Disclosures under The Micro, Small and Medium Enterprises Development Act, 2006 (‘MSMED’):

The details of liabilities to Micro and Small Enterprises, to the extent information available with the Company are given under. This has been relied upon by the auditors

Note: Other information/ disclosures relating to payments made beyond appointed date, interest accrued & paid and cumulative intrest are not applicable, being NIL.

d) The Company’s leasing arrangements are in respect of operating leases for office permises. The leasing arrangements, which are not non-cancellable, are for one year generally, and are usually renewable by mutual consent on agreed terms. The aggregate lease rentals payable are charged as rent.

vi) Amount, Timing and Uncertainty of Future Cash Flows a. Sensitivity Analysis

Significant actuarial assumptions for the determination of the defined benefit obligation are discount rate, expected salary increase and mortality. The sensitivity analysis below have been determined based on reasonably possible changes of the assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The results of sensitivity analysis is given below:

g) Commitment

(i) Uncalled amount of Rs. 4,500 /- each (Previous Year: Rs 4,500 ) on 250 units of Kotak India Growth Fund - Rs.11,25,000 (Previous year Rs.11,25,000)

h) Contingent Liabilities not provided for:

i) During the year 2014-15, the Company had entered into a Memorandum of Understanding (MOU) with one of the vendors for Purchase of Transfer of Development Rights (TDR) to be used in the Company’s upcoming projects. The Company had paid Rs. 2.28 Crores to the said vendor as advance as per the MOU. The party was unable to fulfill its commitment as envisaged in the MOU even after repeated reminders by the Company. The Company has initiated the legal process for recovering the advance paid due to the breach of contract and fraud conducted on the Company. Pending outcome of the legal process, the amount paid has been reflected under Short Term Loans and Advances.

The proposed final equity and preference dividend for FY 2017-18 amounting to Rs. 0.80 and Rs. 0.90 per share respectively will be ecognised as distribution to owners during the financial year 2018-19 on its approval by Shareholders.

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Mar 31, 2016

1. Rights, preferences and restrictions attached to shares

2. The company has one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

3. The company has 9% Cumulative Redeemable Preference Shares having par value of Rs. 10/- per share. The voting rights of the persons holding the said shares shall be in accordance with section 47 of the Companies Act, 2013. The shares shall, in case of winding up are entitled to rank, as regards repayment of Capital and arrears of dividend, whether declared or not up to the commencement on the winding up, in priority to equity shares but shall not be entitled to any further participation in profits or assets. The shares are for a term of 20 Years from March 31, 2008 being the date of allotment.

4. Contingent Liability not provided for:

Disputed VAT demands Rs. 6,423,339/- (Previous Year Rs. 6,423,339/-)

5. Other Commitments:

Uncalled amount of Rs. 4,500 /- each (Previous Year: Rs 42,000 ) on 250 units of Kotak India Growth Fund - Rs.1,125,000 (Previous year Rs.10,500,000)

6. The Company operates under a single segment "Real Estate Development and Services" and its operations within the country. In view of the above, Segment wise disclosures, either primary or secondary, as per AS 17 are not required to be made during the year.

7. Dues to Micro and Small enterprises under Micro, Small and Medium Enterprise Development Act, 2006; (MSMED) The information given below and included in Trade Payable (Note 8) and other current liabilities (Note 9) regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the company.

8. The Company had taken various office premises under operating leases. These are generally not non-cancelable and range between 11 months to 3 years and above and are renewable by mutual consent on mutually agreeable terms. Lease payments (Without Service Tax) amounting to Rs. 11,428,830 (P. Y. Rs. 11,428,869) are recognized in the Statement of Profit and loss under the head ''Rent''

9. During the year 2014-15, the Company had entered into a Memorandum of Understanding (MOU) with one of the vendors for Purchase of Transfer of Development Rights (TDR) to be used in the Company''s upcoming projects. The Company had paid Rs. 2.28 Crores to the said vendor as advance as per the MOU. The party was unable to fulfill its commitment as envisaged in the MOU even after repeated reminders by the Company. The Company has initiated the legal process for recovering the advance paid due to the breach of contract and fraud conducted on the Company. Pending outcome of the legal process, the amount paid has been reflected under Short Term Loans and Advances.

10. Figures of previous year have been regrouped whenever required.

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Mar 31, 2015

1. NATURE OF OPERATIONS

Rodium Realty Limited (the "Company" or "RRL"), is primarily engaged in business of real estate development and services.

2. Rights, preferences and restrictions attached to shares;

i. The company has one class of equity shares having a par value of Rs.10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

ii The company has 9% Cumulative Redeemable Preference Shares having par value of Rs. 10/- per share. The voting rights of the persons holding the said shares shall be in accordance with section 47 of the Companies Act, 2013. The shares shall, in case of winding up are entitled to rank, as regards repayment of Capital and arrears of dividend, whether declared or not upto the commencment on the winding up, in priority to equity shares but shall not be entitled to any further partcipation in profits or assets. The shares are for a term of 20 Years from 31st March, 2008 being the date of allotment.

3. OTHER ADDITIONAL NOTES / INFORMATION

A Contingent Liability not provided for:

Uncalled amount of Rs. 4,500/- each (Previous Year: Rs 42,000/-) on 250 units of Kotak India Growth Fund - Rs.1,1 25,000/- (Previous year Rs. 1 0,500,000/-)

Disputed VAT demands Rs. 6,423,339/- (Previous Year Rs. 6,423,339/-)

B The Company operates under a single segment "Real Estate Development and Services" and its operations within the country. In view of the above, Segment wise disclosures, either primary or secondary, as per AS 17 are not required to be made during the year.

C Dues to Micro and Small enterprieses under Micro, Small and Medium Enterprise Development Act, 2006; (MSMED) The information given below and included in Trade Payable (Note 8) and other current liabilities (Note 9) regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company.

D The Company had taken various office premises under operating leases. These are generally not non-cancelable and range between 11 months to 3 years and above and are renewable by mutual consent on mutually agreeable terms. Lease payments (Without Service Tax) amounting to Rs. 11,428,880 (P. Y. Rs. 11,428,880) are recognised in the Statement of Profit and loss under the head 'Rent'

E Effective April 1, 2014, the Company has charged depreciation based on the revised remaining useful life of the assets as per the requirements of Schedule II of the Companies Act, 2013. Due to above, depreciation charge for the year ended March 31, 2015 is higher by Rs. 7,57,974/-. Consequently the profit for the year is lower by Rs. 7,57,974/- and the deferred tax charge being lower by Rs. 2,45,925/-. Further, as per Para 7(b) under Schedule II, the Company has recognised the charge on account of transitional depreciation amounting to Rs. 5,74,815/- (Net of deferred tax) to the opening balance of retained earnings (Balance in Statement of Profit and Loss).

F During the year, the Company entered into a Memorandum of Understanding (MOU) with one of the vendors for Purchase of Transfer of Development Rights (TDR) to be used in the Company's upcoming projects. The Company paid Rs. 2.28 Crore to the said vendor as advance as per the MOU. The party was unable to fulfill its commitment as envisaged in the MOU even after repeated reminders by the Company. The Company has initiated the legal process for recovering the advance paid due to the breach of contract and fraud conducted on the Company. Pending outcome of the legal process, the amount paid has been reflected under Short Term Loans and Advances.

G Figures of previous year have been regrouped whenever required.

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Mar 31, 2014

NOTE 1 : OTHER ADDITIONAL NOTES / INFORMATION

A Contingent Liability not provided for:

Contingent Liability not provided for: Uncalled amount of Rs. 4,500 /- each (Previous Year: Rs 42,000/-) on 250 units of Kotak India Growth Fund - Rs. 1 1,25,000/- (Previous year Rs. 1,05,00,000/-). Disputed VAT demands Rs. 64,23,339/- (Previous Year NIL).

B The Company operates under a single segment "Real Estate Development and Services" and its operations within the contry. In view of the above, Segment wise disclosures, either primary or secondary, as per AS 17 are not required to be made during the year.

C Dues to Micro and Small enterprieses under Micro, Small and Medium Enterprise Development Act, 2006; (MSMED)

The information given below and included in Trade Payable (Note 8) and other current liabilities (Note 9) regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the company.

E Related Party Disclosure: (Rs.)

A. Subsidiary Company

M/s. Rodium Housing Shahapur Private Limited

B. Associated & Other Related Parties, where common control exists

M/s. Rodium Designs

M/s. Rodium Realty & Construction

M/s. C N A Architects

M/s. Sigma Fiscals Pvt Ltd

Ms. Grima Dedhia (Daughter of Mr. Rohit Dedhia)

Ms. Krupa Chheda (Wife of Mr. Deepak Chheda)

Mr. Keshavji Dedhia (Father of Mr. Rohit Dedhia)

Mr. Dinesh Shah (Brother of Mr. Shailesh Shah)

Mr. Dinesh D. Shah HUF (HUF of Brother of Mr. Shailesh Shah)

Mr. Shailesh Damji Shah HUF (HUF of Mr. Shailesh Shah)

B. Key Management Personnel :

Mr. Deepak Chheda

Mr. Harish Nisar

Mr. Rohit Dedhia

Mr. Shailesh Shah

Mr. Mehul Nisar

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Mar 31, 2013

NOTE 1 : NATURE OF OPERATIONS

Rodium Realty Limited (the "Company" or "RRL"), is primarily engaged in business of real estate development and services.

A Contingent Liability not provided for:

Uncalled amount of Rs. 42,000 /- each (Previous Year: Rs 46,500 ) on 250 units of Kotak India Growth Fund - Rs.1,05,00,000 (Previous year Rs.1,16,25,000)

B The Company operates under a single segment "Real Estate Development and Services" and its operations within the country. In view of the above, Segment wise disclosures, either primary or secondary, as per AS 17 are not required to be made during the year.

C Dues to Micro and Small Enterprises under Micro, Small and Medium Enterprise Development Act, 2006; (MSMED)

The information given below and included in Trade Payable (Note 8) and Other Current Liabilities (Note 9) regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the company.

D The Company had taken various office premises under operating leases. These are generally not non-cancelable and range between 11 months to 3 years and above and are renewable by mutual consent on mutually agreeable terms. Lease payments (Without Service Tax) amounting to Rs. 11,428,880 (P. Y.Rs. 11,219,295) are recognised in the Statement of Profit and loss under the head ‘Rent''

E Figures of previous year have been regrouped whenever required.

Signatures to the Notes to the Financial Statements which form an integral part of these Financial Statements.

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Mar 31, 2012

NOTE 1 : NATURE OF OPERATIONS

Rodium Realty Limited the "Company" or "RRL", is primarily engaged in business of real estate development and services.

(a) Rights, preferences and restrictions attached to shares;

i. The company has one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

ii The company has 9% Cumulative Redeemable Preference Shares having par value of Rs. 10 per share. The voting rights of the persons holding the said shares shall be in accordance with section 87 of the Companies Act, 1956. The shares shall, in case of winding up are entitled to rank, as regards repayment of Capital and arrears of dividend, whether declared or not upto the commencment on the winding up, in priority of equity shares but shall not be entitled to any further partcipation in profits or assets. The shares are for a term of 20 Years from 31st March, 2008 being the date of allotment.

A Contingent Liability not provided for:

a) The Hon. Supreme Court has given the interim relief on the VAT liability to be discharged on the sale of underconstruction flats/ units as on August 28, 2012. Under the premises ownership agreement/ letter of allotment entered into by the company and the partnership firm which the company has taken over on dissolution of the partnership firm on going concern basis, such liabiltity ultimately needs to be borne by the purchaser of the premises and hence no provision has been made in the books.

b) Uncalled amount of Rs. 46,500 /- each on 250 units of Kotak India Growth Fund - Rs. 1,1 6,25,000

B The Company operates under a single segment "Real Estate Development and Services" and its operations are within the country. In view of the above, segment wise disclosures, either primary or secondary, as per AS 17 are not required to be made during the year.

C Dues to Micro and Small enterprieses under Micro, Small and Medium Enterprise Development Act, 2006; (MSMED)

The information given below and included in other current liabilities (Note 8 & 9) regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the company;

D The Company had taken various office premises under operating leases. These are generally not non-cancelable and range between 11 months to 3 years and above and are renewable by mutual consent on mutually agreeable terms. Lease payments amounting to Rs. 12,606,000 (P. Y. Rs. 12,206,032) are recognised in the Statement of Profit and loss account under the head [RentQ

E The Central Government vide notification SO. 447 (E) dated February 28, 2011, has revised the Schedule VI under the Companies Act, 1956 and the same has become applicable for the Financial Statements to be prepared for the financial year commencing on or after April 1, 2011. Accordingly, the Company has reclassified the previous year figures to conform to this year's classification. The adoption of the revised Schedule VI does not impact the recognition and measurement principles followed for the presentation of the Financial Statements.

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Mar 31, 2010

1) No remuneration has been paid to Managing Director and the Executive Directors and hence, details under Schedule XIII of the Companies Act, 1956 are not furnished.

2) a) Based on the information available with the Company, no creditors have been identified as micro, small or medium enterprises within the meaning of Micro and Small Enterprises Development Act, 2006. Necessary disclosures under the said act can only be considered once the relevant information to identify the suppliers who are covered under the said act is received from such parties/ suppliers.

b) Particulars of amounts due to SSI units, if any, could not be ascertained and disclosed in the Balance Sheet as necessary information is not received from the creditors.

3) Contingent Liabilities not provided for:

i) Income tax liabilities for interest and penalty that may arise on account of late/ non-payment of TDS under the Income Tax Act, 1961 - Not ascertainable

ii) No provision has been made for any interest and/ or penalty on the provident fund arrears relating to the period from September, 1997 to March, 2001 under the provisions of the EPF Scheme, 1952, Employees Pension Scheme 1995 and Employee Deposit Linked Insurance Scheme, 1976 in respect of trainees stipend. The quantum of interest and/or penalty is not ascertained.

iii) No dividend on Cumulative Redeemable Preference Shares has been paid due to unavailability of distributable profits for the previous year and the current year. The dividend payable for the two years is amounting to Rs. 88.20 Lacs (excluding the Dividend Distribution Tax payable if any).

4) The Company has during the year under review operated in the Construction Services and as the operations are within the country, risks and returns do not differ significantly. The Company has not operated in the Textile Intermediary Products (Cotton Yarn), which was operated in the previous year. In view of the above, segment wise disclosures, either primary or secondary, as per AS 17 are not required to be made during the year.

5) Related Party disclosures: (As identified by the Management and relied upon by the Auditors)

Associates

(i) Vinod Marketing (P) Ltd, Madanapalle Spinning Mills Ltd, Bhagwan Cotton Ginners (P) Ltd (Upto 31st October, 2009), Sigma Fiscals Private Limited, Rodium Properties, Rodium Realty, CNA Architects, Rodium Designs, Uniwood Systems, Naman Construction Private Limited, D.C. Designs, M/s Amrut Dhara Enterprises,M/s Amrut Dhara Construction Company, Balaji Petroleum, First Stone, Amrut Industries, Silver Hosiery, S.D.S. Enterprises Private Limited.

(ii) Key Management Personnel Deepak Chheda Harish Nisar Rohit Dedhia Shailesh Shah Mehul Nisar

Balkrishna Boob (ceased to be director on 29.03.2010) Ramanujdas Boob (ceased to be director on 14.11.2009)

6) Previous year’s figures have been rearranged/ regrouped/ recast, wherever necessary to make them comparable with the current year.