O M A X E L T D.

Annual Report 2009 - 10

Corporate Information
Board of Directors Mr. Rohtas Goel Mr. Sunil Goel Mr. Jai Bhagwan Goel Mr. Devi Dayal Mr. Padmanabh Pundarikray Vora Lt. Gen. (Retd) Bhopinder Singh Mr. Prahlad Kumar Gupta Secretary Mr. Venkat Rao Auditors Doogar & Associates Registrar & Share Transfer Agent Link Intime India Private Limited (Unit: Omaxe Ltd.) Banks & Financial Institutions State Bank of India Vijaya Bank Indian Overseas Bank Axis Bank Limited Indian Bank Allahabad Bank Syndicate Bank Bank of India Bank of Maharashtra State Bank of Bikaner & Jaipur LIC Mutual Fund HSBC Limited TATA Capital Limited LIC Housing Finance Limited PNB Housing Finance Limited Registered Office: Omaxe House 7, Local Shopping Centre, Kalkaji, New Delhi - 110019 LIC of India United Bank of India Catholic Syrian Bank Bank of Rajasthan Punjab National Bank Yes Bank The Jammu & Kashmir Bank Limited Karur Vysya Bank State Bank of Patiala SICOM Limited IFCI Limited L & T Infrastructure Finance Co. Limited A-40, Naraina Industrial Area, Phase ll, Near Batra Banquet Hall, New Delhi – 110 028 Chartered Accountants Additional Vice President (Fin.) & Company Secretary Chairman and Managing Director Joint Managing Director Whole Time Director Director (Independent) Director (Independent) Director (Independent) Director (Independent)

Turning dreams into reality
The power to think big and to dream big. The power to work big and to live big. That's the power of the new, resurgent India.

Contents
Notice Directors’ Report Certificate on Corporate Governance Management Discussion & Analysis Report on Corporate Governance CFO Certification Auditor’s Report Balance Sheet 01 08 18 19 24 36 37 40 Profit & Loss Account Schedules to the Balance Sheet and Profit & Loss Account Cash Flow Statement Balance Sheet Abstract and Company’s general Business Profile Consolidated Financial Statements Auditor’s Report 41 42 75 76 78 Balance Sheet 79 Profit & Loss Account 80 Schedules to the Balance Sheet and Profit & Loss Account 108 Cash Flow Statement Disclosure pursuant to Section 212 (8) 109 of the Companies Act, 1956 regarding information of Subsidiaries

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It's an India on the move. An India that is constantly trying to outpace itself as it grows stronger and bigger. Moving in tandem with the desires of its people, who live in the power of their dreams and breathe in the force of their aspirations. Vibrant dreams of newage offices to nurture their ambitions, and signature homes to nourish their souls. Pulsating aspirations of lush, spacious environs to give wings to their desires and strength to their spirit. It's an India that is inspiring a whole new generation to reach out to brighter and bigger horizons beyond the existing terrain of conventional living and working conditions. And it's an India that is inspiring us, at Omaxe, to innovate new icons of excellence across the real estate landscape and skyline of the country. Encouraging us to connect to the changing aspirations of our customers while retaining the roots of our traditions. Giving us the strength to fulfill their desire to work and live in an environment of peaceful tranquility merged with modern comfort. And empowering us to turn their dreams of the future into the reality of today.

Annual Report 2009-10

The vision to see tomorrow. S The power of pedigree Incorporated as Omaxe Builders Private Ltd. The power to deliver Having delivered more than 41 mn.Omaxe is truly a pan India player with an impeccable track record. sq. It is now focusing on the development of Hi-tech Townships that shall take the company's globally inspired signature trademark to new levels of quality and excellence. sq. 2 Integrated Townships & 6 Commercial projects. Rohtas Goel. ft. as construction projects and 11 mn. ft. Omaxe is the realization of the dream of Mr.. ft. Omaxe's exponential success in the real estate business spans the entire portfolio of Integrated Townships. Omaxe is a leading real estate company that has delivered some of the most prestigious projects across verticals spanning major cities on the Indian realty landscape. in 1989 to undertake construction & contracting business. Hotels. The Company is listed on both the BSE and the NSE since 2007. to transform the individual aspirations of the common man into the collective image of a new India.The power to turn dreams into reality. sq. a civil engineer by qualification and an entrepreneur par excellence. Annual Report 2009-10 . The Company's portfolio of delivered real estate projects includes 9 Residential. Residential. In 2006. the Omaxe journey peaked another milestone with the change of its name to Omaxe Ltd. the Company changed its constitution to a limited company. in 1999. has been steering the transformation of dreams into reality for customers across the country through world-class residential and commercial properties. which entered the real estate development business in 2001. The Forest-Noida teered by such a vision. as real estate developments spread over 17 projects in different states of India . and driven by such an ability. The power of Omaxe. Construction & Infrastructure Projects. known as Omaxe Construction Ltd. The Company has re-entered into construction and infrastructure segments to further de-risk and transform its business portfolio into a more holistic function of the current demand scenario. Omaxe. The ability to think ahead. Commercial. Retail. since inception – 30 mn. With international grade properties built to the highest standards of quality.

National Brain Research Centre.I. the Company is currently working on 53 projects – 21 Group Housing projects.Omaxe Mall-Gurgaon Among the prestigious residential projects delivered by the Company are The Forest. With affordable housing the new mantra for most real estate companies in India. introduce Sample Flats concept and offer ready-tomove-in homes. M. These 53 projects. besides Integrated Townships such as NRI City at Greater Noida. The Nile-Gurgaon The power to excel Timely completion and superior quality. Jaipur. Greater Noida. Omaxe Heights-Lucknow Omaxe Heights. with Omaxe Arcade. for whom Omaxe spells `value for money'. Omaxe Square. The Company owns a land bank of approx. saleable area across 30 cities in 9 states. Pepsi. coupled with service excellence enabled by technological brilliance.G. Apollo Hospitals and Delhi High Court. etc comprise the Integrated Townships being delivered in phases. among others.500 acres comprising 164 mn. integrating Environment Protection Measures in all projects. The Company also has an impressive Commercial portfolio of delivered projects. IndirapuramGhaziabad among the notable mentions. Wave Cinemas. Omaxe Mall-Patiala Armed with a 120+ completed projects portfolio. Palwal. 9 shopping malls and commercial complexes and 2 Hotel projects. Omaxe City at Lucknow. Omaxe Greens. Omaxe has pioneered the concept of Eco Friendly City. Samsung. are located in 38 towns in10 states across India. ft. Gurgaon and Omaxe Park Plaza. 75% of the Company's residential units fall in the price range of Rs. The power to perform Steered by a visionary leadership and backed by a professionally qualified and competent team. Patiala. the Company's client list in the construction space includes Amity University. Gomtinagar (Lucknow). P . sq. make the Company the preferred real estate developer for customers around the country. with a defined implementation process. 530 lakhs – making Omaxe one of the few organizations that has the power to turn dreams into reality for the common man of India. 4. Indore. Annual Report 2009-10 . The Nile in Gurgaon and Omaxe Royal Residency at Noida. LG. along with 8 ongoing infrastructure & contracting projects. Jasola-Delhi.R. Omaxe Celebration Mall. Noida (one of the ultra luxurious projects in the country). Derabassi (Punjab) are among the Group Housing projects being delivered by the Company in phases while Omaxe City in Sonepat. Among the first to offer Penalty Clause.E. 21 Integrated Townships including a Hi-Tech Township.

Fundamentally sound business practices integrated into a robust business model inspire the brilliance that marks the assurance of Omaxe quality. The power of strong fundamentals An innovative spirit that is in sync with the aspirations of the people of India lies at the core of the Omaxe brand power. Accelerate the limits of excellence through path breaking innovation and professionalism The power of our Mission To create a progressive organization that can boast of International Standards in Integrity. wealth creation and value multiplication. Annual Report 2009-10 . leadership and service excellence. Deliver high quality Residential and Commercial projects that correlate with Global Developers. efficient manpower and cutting edge technology. Corporate Social Responsibility and Business Transparency. Implement Best Business Practices that goes beyond customer expectations. Establish new benchmarks for the industry by besting existing standards.One of the first Construction Companies of northern India to receive an ISO 9001:2000 Certification. the Omaxe brand is today axiomatic with excellence endorsed by a number of awards from the industry. To conceive and deliver quality that conforms to the best practices of Eco – Friendly development. Integrity and Value Creation for all stakeholders / customers. Omaxe Eternity-Vrindavan The power of our Vision Commitment towards Quality. core competence. It's a power that is rooted in a legacy of excellent quality benchmarked to global standards and packed in the brilliance of modern technological processes backed by cutting-edge systems & processes. teamwork. durability. Omaxe's forte lies in challenging the conventional perceptions of homes. Our 1368 strong member team work relentlessly to enable timely delivery of cost-efficient offerings across the entire spectrum of real estate and infrastructure vertical. Lead the real estate industry with high caliber. which is constantly striving to align itself with the dreams of its diverse customers. steered by a visionary management and qualified team of professionals. offices and retail to champion innovative offerings that remain rooted in the traditional practices of differentiated living and working. To create a culture of professionalism. To ensure continuous delight for our customers and stakeholders by always staying a step ahead of the curve. To leverage modern cost effective techniques resulting in quality. Ethics. reliability and durability – across projects and cities.

000.000.818 2008-09 8.162 4.00 1.147 1.000.00 1.000.00 4.607 1.133 14.778 15.000.00 0.00 3.148 10.147 23.00 0.034 1.399 8.00 2005-06 2006-07 2007-08 2008-09 2009-10 8.333 2005-06 8.500.000.500.00 15.000.078 6.00 2.133 2006-07 14.00 2.00 20.000.034 507 3.000.Financial Highlights (Rs.00 0.607 1.00 2005-06 2006-07 2007-08 2008-09 2009-10 467 1.282 2.229 6.000.125 15.949 Profit before Tax 7.125 Annual Report 2009-10 .148 507 467 14.399 3.333 14.304 1.440 4. in Millions) Particulars Revenue Profit Before Tax Profit After Tax Net Worth 2009-10 10.00 2005-06 2006-07 2007-08 2008-09 2009-10 2.150 4.000.000.00 15.000.00 5000.818 25.00 1.00 5000.150 Revenue Net Worth 20.282 2.500.00 3000.00 500.00 0.00 6.00 2005-06 2006-07 2007-08 2008-09 2009-10 1.00 5.00 3000.949 14.00 4.440 1.00 10.778 2007-08 23.000.500.000.078 Profit after Tax 5.229 2.162 4.00 10.304 14.000.00 4.

• Launched ‘Omaxe Chandigarh Extension’. Uttar Pradesh. Uttar Pradesh spread over an area of approx 1535.19 acres (approx.. Omaxe's subsidiary. has signed a Memorandum of Understanding with Lucknow Development Authority for the development of ‘Hi-Tech Township’ at Lucknow. Omaxe’s subsidiary. signed a Memorandum of Understanding with Allahabad Development Authority (ADA) for the development of ‘Hi-Tech Township’ at Allahabad. the project is expected to be executed in phases over a period of 5 to 7 years. • Rivaj Infratech Pvt. 100 crores.12 acres. The company has launched Plots and Villas in the 1st phase.). Uttar Pradesh consisting of premium apartments and Penthouses for those who yearn for a luxurious life. an Integrated Township of international standard at Mullanpur. The project is expected to generate revenues of Rs. • Launched ‘Omaxe Silver Birch’ independent floors in ‘Omaxe Chandigarh Extension’ at Mullanpur. Rs. With estimated revenues of over Rs. With estimated revenues of over Rs. has signed a Memorandum of Understanding with Bulandshahar Development Authority for the development of ‘Hi-Tech Township’ at Bulandshahar. Omaxe’s subsidiary. Uttar Paradesh offering Villas and Plots. Omaxe Waterfront City-Allahabad* • Laid the foundation of ‘Omaxe Waterfront HiTech city’. Ltd. on a proposed area of 3601.) and will be executed in phases over a period of 5 years. 7500 crores (approx.). 110 crores (approx. Uttar Pradesh.12 Acres (approx.. 450 crores.).. 11 acres with an expected realisation of approx Rs. Omaxe Silver Birch* Omaxe Chandigarh Extenstion Annual Report 2009-10 .). Uttar Pradesh on a proposed area of 2700 acres (approx.). a Multi-Storied Group Housing project in Omaxe Waterfront Hi-Tech city at Allahabad. Ltd. the first ‘Hi-Tech township’ at Allahabad. The project is spread over 96 acres with a realization value of approx. the project is expected to be executed in phases over a period of 5 to 7 years.Unveiling power of Omaxe Our portfolio of turning dreams into reality • Pancham Realcon Pvt. 115 crores. Ltd. Chandigarh spread over an area of approx. 2800 crores (approx. Chandigarh Spread over an area of 123 acres with expected revenues of approx. Sangam City-Allahabad* • Launched ‘Sangam City’ in Omaxe Waterfront Hi-tech City at Allahabad. • Garv Buildtech Pvt. Omaxe Twin Towers-Waterfront City-Allahabad* • Launched ‘Omaxe Twin Towers’. Rs. The township will be developed over an area of 1535.

). Independent Floors. Ludhiana. sprawling over an area of 72 acres with an estimated development cost of Rs. *Perspective View Annual Report 2009-10 . secure. The project will be built with an investment of Rs. Infra Projects Contractual Projects • Awarded the All India Institute of Medical Sciences (AIIMS) project in Rishikesh. friendly and affordable homes. • Launched ‘Omaxe City Homes’.). • Constructing the Housing Society in Meerut by Air Force Naval Housing Board valued at Rs. • Bagged project for Renovation and face lifting of ESI hospitals and regional office at Bhubaneswar and Cuttack with an estimated value of Rs. The project will be built with an investment of Rs. 120 crores (approx. Haryana as a part of ‘Omaxe North Avenue’. • Launched ‘Omaxe Grand Towers’ at Sec–93B.). 20 kms away from Delhi on a highway in Bahadurgarh. a part of ‘Omaxe Royal Residency’.8 crores (approx. Noida comprising 212 units and with an estimated investment of Rs. The investment value is pegged at Rs. • Launched ‘City Homes’. an Integrated Township of international standard situated at a prime location at Rohtak. Faridabad comprising of comfortable. • Launched ‘Royal view’. 120 crores (approx. by Ministry of Health & Family welfare.). Noida–Greater Noida Expressway. spread over an area of 78 acres. 94 crores (approx. 126 crores (approx.).). Punjab.Omaxe New Heights-Faridabad* • Launched ‘Omaxe New Heights’ at Sector-78. 57. Indore. The value of the contract is Rs. an Integrated Township project at Nihalpur Mundi. an integrated township of international standard situated approx. Independent Floors at Bahadurgarh.34 crores (approx.).). a 36 acres niche Township at Pakhowal Road.). Haryana which will be a part of Omaxe City.). Independent Floors in ‘Omaxe City’ at Mayakhedi Extn. of India. Uttarakhand. 70 crores (approx. The project is expected to generate revenues of Rs. • Launched ‘City Homes’. • Launched two towers having options of 4BHK in ‘Omaxe Heights’ at Sector–86 Faridabad to cater to the demand of spacious apartments at affordable price. The projects value is over Rs. 115 crores (approx. The project is spread over 20 acres and will be developed with an investment of Rs. 60 crores (approx. with expected revenue generation of Rs. 139 crores (approx. Independent Floors at Rohtak. inspired from European architecture.20 crores (approx. 52 crores (approx. Govt.).). an Integrated Township at Bathinda. Indore. 128. 64. Omaxe City-Bathinda* Royal View Homes-Ludhiana* • Launched Plots and Villas in ‘Omaxe City’. • Launched ‘Omaxe Hills’.

125 on which we shall surge million (on consolidated basis) – marking a significant increase together to cross even over the previous fiscal. on the back of the Government's fiscal stimulus package. During the year under review. bigger milestones Boosted by our growing understanding of our customer's changing aspirations and needs. is perfectly poised to deliver on this potential demand. These numbers reflected the boost in demand that the Indian real estate market witnessed as the recessionary clouds began to lift over the nation's economic horizon. which. ahead. its superior & innovative planning and execution A small measure of the Omaxe proposition in the real estate and construction business is evident in the portfolio of projects launched and the new construction assignments initiated during FY10. I spoke to you of the resilience and the inherent strength that empowers a champion to survive the worst of vagaries to successfully emerge as the leader of tomorrow. the Company posted embarked together and net revenue of Rs. which firmly entrenched itself on the path to recovery even as most of the Western economies continued to reel under the recessionary pressures of the previous year. Merging the demands of modern-day living with the myriad hues of tradition. By the end of FY’11. then. its customized and affordable offerings. and on which we shall surge together to cross even bigger milestones ahead. without whose unwavering faith and confidence we would not have been able to pinnacle such exemplary heights of success. we are targeting to double the order book size. And concurrently. The window of opportunity is opening wider everyday. with its robust. it was a period of significant revival for the Indian real estate sector. I am proud to say. and innovated by their transforming desires and dreams. It is indeed a remarkable achievement that I personally feel proud to share with each one of you. Bridging the gap between dream and reality to build new-age architectural marvels of comfort and excellence. 1. which the Company re-entered in mid-2008 as third party contractor.Chairman’s Message A My dear fellow shareholders year ago. How well this increased confidence translated into substantial gains It's a journey on for Omaxe can be seen in the numbers posted by the Company which we have during FY10. we connected with them at home. Naturally. Omaxe. The construction business. Rooted in the ethos of today to emerge as the leaders of tomorrow. In the context of Omaxe. de-risked and diversified business model. they vindicated the growing connect of the Company with its customers. witnessed positive sentiments being translated into higher investor and occupier confidence. 147 million and net profit of Rs. the next 3-5 years will require a fair amount of investments for slaking this anticipated demand. has particularly proved to be a source of immense satisfaction to us and our present order book in this business stands at over Rs. 800 crores with average execution period of projects being two years. 10. and we are strategically positioned to enter into the hearts of our cherished and valued customers with new and better offerings designed to meet their needs and fulfill their dreams. It was a year of stabilization for the Indian economy. and at work. The innovative resilience and robust strength manifested by your Company in combating the woes triggered by the global recession to scale exceptional levels of performance during the year under review were no less than the sign of just such a champion. Regards Rohtas Goel Annual Report 2009-10 . It's a journey on which we have embarked together.

New Delhi . 2010 and Profit and Loss Account for the year ended on that date together with Directors' and Auditor's Report thereon. To consider and if thought fit. as may be required or be applicable and further subject to such terms and conditions or modifications thereto as may be prescribed or imposed by any of the Concerned Authorities while granting such approvals. the following resolution as a Special Resolution: RAISING OF ADDITIONAL LONG-TERM FUNDS THROUGH FURTHER ISSUANCE OF SECURITIES IN THE COMPANY "RESOLVED THAT pursuant to the provisions of Section 81 and 81(1A) and other applicable provisions. if any. (including with provisions for reservation on firm and/or competitive basis. To appoint a Director in place of Mr. in its sole discretion. to transact the following businesses: ORDINARY BUSINESS: 1. 3. permissions and sanctions. of the Companies Act. preferential allotment including qualified institutions placement pursuant to Chapter VIII of the ICDR Regulations (the "Qualified Institutions Placement"). consider and adopt the Audited Balance Sheet as at 31st March. in the domestic or one or more international markets. consents. 2009 (the "ICDR Regulations") the Reserve Bank of India (the "RBI") and enabling provisions of the Memorandum and Articles of Association of the Company and the listing agreements entered into by the Company with the stock exchanges where the shares of the Company are listed.00 a. To receive. which would be exercised or converted into/ exchanged with equity shares at a later date (the "Securities") as the Board at its sole discretion or in consultation with underwriters. merchant bankers. to any eligible investors (whether resident or non-resident. permissions and sanctions of the relevant statutory. including the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations. by the Board of Directors of the Company (hereinafter referred to as the "Board" which term shall include any committee constituted by the Board or any person(s) authorized by the Board to exercise the powers conferred on the Board by this resolution). the Foreign Exchange Management Act. rules and regulations and subject to such approvals. 1999. governmental authorities or departments. 2. To appoint Auditors and to fix their remuneration. of such part of issue. 1956 (the "Act"). and any other applicable laws. the Securities and Exchange Board of India (the "SEBI").m. the 19th day of August. on such occasion or occasions. and /or securities linked to equity shares and/or securities with or without detachable/ non detachable warrants and/or warrants with a right exercisable by the warrant-holder to subscribe for equity shares and/or any instruments or securities representing either equity shares. Devi Dayal who retires by rotation and being eligible offers himself for re-appointment. at the option of the Company and/or the holders of such securities. regulatory. and/or other securities exercisable or convertible into or exchangeable for equity shares of the Company. and whether or not Annual Report 2009-10 1 . with or without green shoe option in the course of one or more public or private offerings by way of public issue. Padmanabh Pundarikray Vora who retires by rotation and being eligible offers himself for reappointment. 4. Subroto Park. financial advisors or legal advisors may at any time decide. 2010 at Air Force Auditorium. as may be necessary or which may be agreed to. issue. and/or any other financial instruments. equity shares and/ or otherwise such other class of shares through depository receipts including American Depository Receipts. institutions or bodies (the "Concerned Authorities") in this regard. offer and allot. in one or more tranches. Global Depository Receipts and/or fully or partly convertible bonds or debentures. secured premium notes. SPECIAL BUSINESS: 5. consents. and for such categories of persons including employees of the Company as may be permitted). consent of the members of the Company be and is hereby accorded to the Board to create. rights issue. 2000 (including any amendments thereto or re-enactment thereof.NOTICE NOTICE is hereby given that the Twenty First Annual General Meeting of the Company will be held on Thursday.110010 at 11. To appoint a Director in place of Mr. the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations. for the time being in force) and applicable regulations/guidelines issued by the Government of India. whether denominated in rupee or in any foreign currency. to pass with or without modification(s).

premium and redemption or early redemption of Securities. as specified under applicable law.00. consents. the Board be and is hereby authorized to prescribe with respect to the aforesaid Issue all or any of the terms or any combination of terms thereof in accordance with local and/or international practice including but not limited to conditions in relation to the offer. the aforesaid Securities may have such features. not being less than the price determined in accordance with the pricing formula specified in the ICDR Regulations. RESOLVED FURTHER THAT without prejudice to the generality of the foregoing. as the Board may deem fit and proper in its absolute discretion. subject to the applicable laws for the time being in force (the "Issue"). redemption period. authority or regulatory institution including the conditions prescribed. if any. amount of premium on redemption. be the date of the meeting in which the Board or the committee of directors duly authorized by the Board in this behalf decides to open the proposed Issue or such other time.000/. finalization of allotment of the Securities on the basis of the subscriptions received. as the Board may at its sole discretion think fit and decide in consultation with the merchant bankers and/ or lead manager and/ or underwriters or advisors or such other person. permissions or sanctions. manner of redemption. but without requiring any further approval or consent from the shareholders of the Company. dividend. face value. except on a recognized stock exchange or except as may be permitted from time to time under the ICDR Regulations. including terms for such issue or variation of the price or period of conversion of any Securities into equity shares or issue of equity shares during the duration of the Securities or terms pertaining to early redemption of Securities and/or conversion into equity shares as the Board may in its sole discretion deem appropriate. through prospectus(es) or placement documents(s) or letter(s) of offer. creation of mortgage or charge in accordance with Section 293(1)(a) of the Act.such investors are members of the Company) including 'Qualified Institutional Buyers' as defined under Regulation 2 (1) (zd) of the ICDR Regulations and/or any other categories of investors (collectively called the "Investors") as may be deemed appropriate by the Board and permitted under applicable laws and regulations.00. authority or regulatory institution. number of Securities to be issued/allotted. in granting such approval. issued. RESOLVED FURTHER THAT without prejudice to the generality of the foregoing and subject to applicable laws and subject to the approval. on such terms and conditions and timing of the issue(s)/offering(s)/placement(s) such as the investors to whom the Securities are to be offered/issued. 2 Annual Report 2009-10 . debt service payments and any other payments whatsoever. permissions or sanctions by such governmental body.(Rupees One Thousand Crores) or its equivalent in any other currency. fixing of record date or book closure dates and any other matter in connection with or incidental to the issue. the issue price. attributes or terms or combination thereof that lends to the tradability and free transferability thereof in accordance with the prevailing practices in the capital markets including but not limited to the terms and conditions for issue of additional Securities and such of these Securities to be issued as are not subscribed may be disposed of by the Board in such manner and/or on such terms including offering or placing them with banks/financial institutions/mutual funds or otherwise. the number of equity shares or otherwise such other class of shares to be allotted on redemption/conversion. the stock exchanges on which such Securities will be listed. offered and allotted shall be subject to the provisions of the Memorandum and Articles of Association of the Company and the equity shares to be allotted in terms of this resolution shall rank pari passu in all respects with the existing equity shares of the Company. of any governmental body. (b) the pricing of the Securities shall be made at the price. RESOLVED FURTHER THAT the Securities to be created. if any. consents. resulting in the issue of further capital up to an aggregate amount of Rs 1000. voting rights and all such terms as are provided in domestic and/ or international offerings of this nature. period of conversion. as may be allowed under the ICDR Regulations from time to time and such price shall be subject to appropriate adjustments as provided in the applicable ICDR Regulations. (c) the Securities shall not be eligible to be sold for a period of twelve months from the date of allotment. RESOLVED FURTHER THAT in the event of issue of Securities by way of a Qualified Institutions Placement: (a) the Securities issued for such purpose shall be fully paid-up at the time of their allotment and the allotment of such Securities shall be completed within twelve months from the date of this resolution or such other time as may be allowed under the ICDR Regulations from time to time. the ratio thereof. (d) the relevant date on the basis of which price of the relevant shares shall be determined. in respect of any Securities as may be required. rate of interest. shall. payment of interest. issue and allotment of the Securities.

" 6. consents and/or authorities as may. in order to give effect to this resolution. paying and conversion agents. if required. the RBI. the following as a Special Resolution: APPOINTMENT OF MR. be required from time to time and to arrange for the submission/filing of the preliminary and final issue/placement document and any amendments and supplements thereto. marketing. Listing Agreement entered into by the Company with the Stock Exchanges and/ or any other appropriate authority(s) under any other applicable law. if and as required and any other Concerned Authority in India or abroad and to do all such acts. appointment of lead manager(s). with any applicable government and regulatory authorities. listing. 1956. as it may. trustees and to issue and sign all deeds. issue and allotment of Securities as aforesaid. to give such declarations. the consent of the Company's lenders. costs. give such directions and to do all such acts. deeds. registrars. seeking. stipulations and modifications as may be prescribed. (ii) (iii) giving or authorizing the giving of such declarations. the stock exchanges. institutions or bodies. certificates. consents and authorities as may be required from time to time by concerned persons. (including the statutory modifications or re-enactment thereof for the time being in force) and subject to the provisions of the Memorandum of Association and Articles of Association of the Company. decision or direction of the Board shall be binding on all members.RESOLVED FURTHER THAT the Board be and is hereby authorized to finalize and approve the preliminary as well as the final issue/ placement document. parties with whom the Company has entered into various commercial and other arrangements. affidavits. vary or modify the same as such authorized persons may consider necessary. the Board be and is hereby authorized to take all such actions. difficulties or doubts that may arise in regard to the Issue as it may in its absolute discretion deem fit RESOLVED FURTHER THAT for the purpose of giving effect to the above resolution and offer. as may be legally required or provided for in the respective offer document(s)/ placement document/ prospectus at the Board's discretion. and as the Board may consider necessary or expedient. as it may deem fit in its absolute discretion. affidavits. rules and regulations for the time being in force and amended from time to time and further subject to such terms and conditions. without limitation the following: (i) to seek and obtain the listing of the Securities. desirable or expedient and for the purpose aforesaid. To consider and if thought fit. deem fit and any such action. RELATIVE OF DIRECTOR(S) OF THE COMPANY AS AN EMPLOYEE IN THE SUBSIDIARY COMPANY OMAXE BUILDWELL PRIVATE LIMITED “RESOLVED THAT pursuant to the provisions of section 314 of the Companies Act. matters and things as it may in its absolute discretion deem it necessary or desirable in connection with the Issue and to give effect to these resolutions. matters and things as may be necessary. commission. charges and other outgoings in relation thereto and to settle all questions whether in India or abroad. and (iv) settling any questions. for the Issue and to do all requisite filings with SEBI. documents. including. RESOLVED FURTHER THAT the Board be and is hereby authorized to do all such acts. as may be required. imposed or suggested by any of them while granting such approvals which the Board of Directors (hereinafter referred to as “the Board”. matters. certificates. and for utilization of the Issue proceeds. the entering into of arrangements for underwriting. MOHIT GOEL. in the opinion of such authorized person. all concerned government and regulatory authorities in or outside India and any other consents that may be required in connection with the Issue. to any committee or a person or persons. instruments and writings and to pay any fees. in the best interest of the Company. RESOLVED FURTHER THAT the Board be and is hereby authorized to delegate all or any of the powers herein conferred. as may arise out of any offering of Securities inside or outside India. deeds. the Government of India. in its absolute discretion. to which all or any of the powers hereby conferred on the Board by this resolution may have been delegated) be and is hereby authorised to accept and subject to Annual Report 2009-10 3 . to pass with or without modification(s). together with the authority to amend. if required for the proposed Issue and to authorize any director or directors of the Company or any other officer or officers of the Company to sign the above documents for and on behalf of the Company. trading of Securities. advisor(s). which term shall be deemed to include any committee thereof for the time being and from time to time. deeds and things as may be necessary and expedient for and incidental and ancillary to the Issue/. desirable or incidental thereto including without limitation.

for official and limited personal use. PERSONAL ACCIDENTAL INSURANCE: The Subsidiary Company may reimburse actual expenses including the premium amount for self and family as per the rules of the Subsidiary Company. 1961. furniture and fittings that’s needed to set up home such as electrical appliances. b) c) d) e) f) g) h) RESOLVED FURTHER THAT Mr. LEAVE TRAVEL ASSISTANCE: The Subsidiary Company may provide leave travel for self and family subject to a ceiling of one month’s salary per year. ANNUAL LEAVE: The employee would be entitled for annual leaves as per the rules of the Subsidiary Company.such conditions and modifications as may be considered appropriate by the Board of the Company. consent of the Company be and is hereby accorded to appoint Mr. 1. Gratuity payable shall not exceed half a month’s salary for each completed year of services in accordance with Gratuity Act. Superannuation Fund or Annuity Fund as per the Rules of the Subsidiary Company. Or The Subsidiary Company may give House Rent Allowance @ 50% of the Basic Salary. periodicity and intervals. TELEPHONE (INCLUDING MOBILE PHONE): Charges for rental. Gardener etc. security. Water. 1972.” 4 Annual Report 2009-10 . air conditioners etc alongwith the upkeep maintenance of such rent free accommodation including. at the discretion of the Board of the Subsidiary from time to time. in part or in full. CONTRIBUTIONS to Provident Fund. local and official long distance calls for telephone at residence and mobile phone(s) may be paid/ reimbursed by the Subsidiary Company. Mohit Goel. as an employee of Omaxe Buildwell Private Limited (hereinafter referred to as “Subsidiary”). iii) Perquisites: a) CAR: The Subsidiary Company may provide two Chauffeur driven cars. MEDICAL EXPENSES: Payment/ Reimbursement of all medical expenses/premium amounts of any Medi claim Policy etc for self and family as per the rules of the Subsidiary Company. a relative of Director(s) of the Company. Encashment of leave at the end of the tenure will not be included in the computation of the ceiling. servant(s). as per the policy of the Subsidiary Company and subject to the discretion of the Board of Directors of the Subsidiary Company. Mohit Goel shall be appointed at such level and designation and shall be entitled to all other perks and benefits. to the extent these are not taxable under the Income Tax Act. at the discretion of the Board of the Subsidiary Company and subject to over all limits as prescribed. All expenses on running and maintenance of the cars may be borne by the Subsidiary Company. payment towards Electricity.00 per month (Basic Salary and/ or Annual increment (upto an extent of 40% of the gross salary) at such quantum. either singly or put together.000. CLUB FEES: The Subsidiary Company may pay Fee(s) of club(s) including annual charges and other fees or any other charges for availing such facilities for official purpose. from time to time) ii) Housing The Subsidiary Company may provide duly maintained Rent Free Accommodation together with . a subsidiary of the Company on the following terms: i) Basic Salary: Upto Rs.00. subject to a maximum of two clubs.

1956 and rules made thereunder. INSTRUMENT OF PROXIES IN ORDER TO BE EFFECTIVE MUST BE LODGED WITH THE COMPANY'S REGISTERED OFFICE NOT LESS THAN FORTY-EIGHT HOURS BEFORE THE COMMENCEMENT OF THE MEETING. FURTHER RESOLVED THAT the Board be and is hereby authorized to take all such steps. 7. The Board of Directors of the Company recommends their respective appointment/ re-appointments. only such joint holder who is higher in the order of names will be entitled to vote. 2010 Registered Office: Omaxe House 7. Annual Report 2009-10 5 . A brief resume of these Directors.” For and on behalf of the Board For Omaxe Limited Place: New Delhi Date : 27th May. Members are requested to bring their copy of Annual Report to the meeting. desirable or expedient to give effect to this resolution. FURTHER RESOLVED THAT the aforesaid remuneration exclusive of the Commission be paid as minimum remuneration comprising salary and perquisites to Mr. In terms of Articles of Association of the Company Mr. 1956 relating to the special businesses to be transacted at the meeting is annexed hereto and forms part of the notice. are provided in the Report on Corporate Governance forming part of the Annual Report. As a measure of economy. Devi Dayal and Mr. deeds and things as may be required. vary or modify the above terms including any increase/reduction in remuneration as it think fit during the tenure of appointment. Independent Directors retire by rotation at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. from time to time. 3. Mohit Goel in the event of loss or inadequacy of profits in any financial year during the tenure of his appointment. and names of companies in which they hold Directorship and membership of Committees of the Board. 6. An explanatory statement pursuant to section 173(2) of the Companies Act. Local Shopping Centre. Kalkaji. as stipulated under Clause 49 of Listing Agreement with the Stock Exchanges in India. nature of their expertise in specific functional areas. acts. In case of joint holders attending the Meeting.FURTHER RESOLVED THAT the Board of the Subsidiary may. Corporate Members intending to send their authorised representative to attend the meeting are requested to send a certified copy of the Board Resolution authorizing their representative to attend and vote on their behalf at the Meeting. Members who hold shares in dematerialised form are requested to write their Client ID and DP ID Numbers and those who hold shares in physical form are requested to write their Folio Number in the attendance slip for attending the Meeting. provided however that such variation is within the limits fixed aforesaid and as per the provisions/limits laid down under the Companies Act. Padmanabh Pundarikray Vora. 2. New Delhi-110019 Sd/Rohtas Goel Chairman and Managing Director NOTES: 1. from time to time. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF AND SUCH A PROXY NEED NOT BE A MEMBER OF THE COMPANY. 4. 5. Members/ Proxies should bring the attendance slip duly filled in and signed for attending the meeting.

The issue/ allotment/ conversion would be subject to the availability of regulatory approvals. 9. power of attorney. The resolution is valid for a period of 12 months i. 1956 and the Listing Agreement. change of address/ name etc. at such price or prices and at such times as may be considered appropriate by the Board. nominations. if any. and to such person(s) including institutions. inter alia. Report on Corporate Governance or elsewhere shall be available for inspection at the venue of the Annual General Meeting. to their depository participant only and not to the Company or its Registrar and Transfer Agent. 12. EXPLANATORY STATEMENT IN RESPECT OF THE SPECIAL BUSINESS PURSUANT TO SECTION 173 (2) OF THE COMPANIES ACT. 10. 2010 (both days inclusive).m. incorporated bodies and/ or individuals or otherwise as the Board may. that when it is proposed to increase the Issued Capital of a company by allotment of further shares. at such time or times. held by foreign investors. Lead Managers. 1000 Crores (One Thousand Crores only) or its equivalent in one or more currencies. in such manner. The Special Resolution is being sought to give Board the power to issue Securities in one or more tranche(s). repayment of loans and general corporate purposes and to strengthen the financial position and capital base by augmenting its long-term resources. 5 : Raising of additional long-term funds through further Issuance of Securities The Company is one of the leading real estate companies in India. The documents. certificate etc. deem fit. 1956 in duplicate to the Company's Registrar & Share Transfer Agent. ECS mandates. Register of Members and Transfer Books will remain closed from 16th August 2010 to 19th August. The said changes will be automatically reflected in the Company's records. Section 81 and 81 (1 A) of the Companies Act. in consultation with the Advisors. the Company would need access to external funds at different points of time in the future. Since this Special Resolution enables the issue of Securities of the Company otherwise than to the existing shareholders of the Company. referred to in the Notice and Explanatory Statement. The Company had vide special resolution passed in the Extra Ordinary General Meeting held on 6th July 2009 authorised the Board of Directors to undertake a qualified institutional placement etc. 6 Annual Report 2009-10 . upto 5th July 2010. Item No. 1956 unless the members in a general meeting decide otherwise. in its absolute discretion. to 12:30 p. It is therefore proposed to issue the Securities as stated in the Resolution for an amount not exceeding Rs. Directors’ Report. 11. such further share shall be offered to the existing shareholders of such Company in the manner laid down in Section 81 of the Companies Act. Under Section 109A of the companies Act. on such terms. Members holding shares in dematerialised mode are requested to intimate all changes pertaining to their bank details. The documents. The conversion of Other Specified Securities. The consent of the members is being sought pursuant to the provisions of Section 81 and 81 (1A) and other applicable provisions of the Companies Act.e. registers. In order to meet the funding requirement for execution of the projects. 1956 and the relevant clause of the Listing Agreement with the Stock Exchanges where the equity shares of the Company are listed provides. as referred to for inspection/placement in the Notice.1993).m. if any. 2009 and/or through issue of Depository Receipts under the issue of Foreign Currency Convertible Bonds and Ordinary Shares (through Depository Receipt Mechanism Scheme. to various categories of investors in domestic and/or international market(s).8. Members desirous of making nominations are requested to send their request in Form 2B of the Companies (Central Government's) General Rules & Forms. consent of the members is being sought pursuant to the provisions of Section 81 and 81 (1A) and other applicable provisions of the Companies Act. in one or more tranche(s). Underwriters and such other authority or authorities as may be required to be consulted by the Company considering the prevailing market conditions and other relevant factors. 1956. in such form including through a Qualified Institutions Placement as prescribed under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations. unless otherwise specifically stated will be available for inspection by the Members at the Registered Office of the Company between 10:30 a. on all working days from the date hereof up to the date of the Meeting. 1956 and in terms of the provisions of the Listing Agreement executed by the Company with the Stock Exchanges where the equity shares of the Company are listed. members are entitled to make nomination in respect of shares held by them in physical mode. into shares would be subject to the applicable foreign investment cap. 1956.

Mohit Goel.00 A. to 12. Rohtas Goel. Local Shopping Centre. the appointment of relative of Director of the Company in the Subsidiary Company requires the approval of the members by way of special resolution and accordingly. New Delhi-110019 Sd/Rohtas Goel Chairman and Managing Director Annual Report 2009-10 7 . Mohit Goel. Relative of Director(s) of the Company as an Employee in the subsidiary company Omaxe Buildwell Private Limited The Board of Directors at its meeting held on 27th May 2010 considered that an intimation is received from Mr. Sunil Goel and Mr.00 Noon at the Registered Office of the Company.The Special Resolution. if any. 5 of the Notice for approval by the members. will have the effect of allowing the Board to have all such powers including but not limited to issue and allot Securities to the investors who may or may not be the existing shareholders of the Company and to decide the date of opening and closing of the Issue and all other incidental authorities as forming part of the special resolution.M. a Subsidiary Company of the Company. Mohit Goel. The Board recommends the Special Resolution as set out in Item no. Item No. For and on behalf of the Board For Omaxe Limited Place: New Delhi Date : 27th May. that Mr. The Directors of the Company may be deemed to be concerned or interested in the Resolution to the extent of Securities issued/ allotted to them or to the Companies/ institutions in which any of them is a director or member. Rohtas Goel being father of Mr. Chairman & Managing Director of the Company. Kalkaji. In terms of the provisions of Section 314 of the Companies Act. A copy of draft appointment letter of Mr. Jai Bhagwan Goel being the relatives of Mr. 2010 Registered Office: Omaxe House 7. Mohit Goel will be available for inspection by the members on any working day from the date here of up to the date of meeting between 10. None of the Directors. is either concerned or interested (save and except to the extent of their shareholding in the Company. The terms of appointment including remuneration are as per the proposed resolution given in the Notice of the Annual General Meeting forming part of this Annual Report. the Directors propose the Special Resolution for the consent of the members at the forthcoming Annual General Meeting of the Company. except Mr. if passed. if any) in the above resolution. his son. is proposed to be appointed as an employee in Omaxe Buildwell Private Limited. 6 : Appointment of Mr. Mohit Goel and Mr. 1956 and other applicable laws.

2010 10147.01 8 Annual Report 2009-10 .46 1831.26 812.97 1083.03 31.74) 83.94 1021.30 0. depreciation & tax Less: Interest Less: Depreciation Profit Before Tax Less: Provision for tax Profit after tax Less: Minority Adjustment Profit after tax after minority adjustments Add : Profit brought forward from last year Add : Adjustments Profit available for appropriations Appropriations Less: Transferred to General Reserves Less: Transferred to Debenture Redemption Reserve Balance Carried to Balance Sheet B STAND-ALONE FINANCIAL PERFORMANCE (Rs.03 Nil 100.03.21 774.35 (73.13 467.43 5090.36) 823.96 507.54 0.23) 1125.11 1125.31 (91. 2010 are as follows: A CONSOLIDATED FINANCIAL PERFORMANCE (Rs.03.07 2100.79 83. depreciation & tax Less: Interest Less: Depreciation Profit Before Tax Less: Provision for tax Profit after Tax Add: Profit brought forward from last year Profit available for appropriation Appropriations Less: Dividend Tax Less: Transferred to General Reserves Less: Transferred to Debenture Redemption Reserve Balance Carried to Balance Sheet 31.DIRECTORS' REPORT Dear Members.35 100.75 1074.07 467.99 1935.58 50.31 4253.07 1641.03.95 6.2010 8073.78 5090.2009 7576.78 48.72 3345.78 3345.43 40.00 354.29 1015.23 5053.16 41.92 (132.00 354.71 (10. FINANCIAL HIGHLIGHTS A brief overview on Consolidated and Stand-Alone Financial Performance for the year ended March 31.80) 907.07 2886. in Mio) Particulars Gross Receipts & Other Income Profit before Interest.00 Nil 4153.45 1034.2009 8148.35 31.03. 2010. Your Directors have pleasure in presenting the Twenty First Annual Report alongwith the Audited Accounts of the Company for the year ended March 31.28 3709.09) 6215. in Mio) Particulars Gross Receipts & Other Income Profit before Interest.00 Nil 6115.18 45.01 (0.31 31.61 5527.

Haryana for a value of approx.1125. During the period your Company bagged contract for a value of approx. Your company and management looked at this as a challenge and adopted innovative methods to counter the slow down by re-shuffling the product mix and offering new products as per the changing demand(s) in the market. Royal View. Rs. Rs. Rs. Indore. your company expects to maintain the process of consolidation and also with 3 Hi-tech Township Projects at Allahabad.00 mio has been transferred to General Reserve. your directors do not recommended any dividend for the financial year ending 31st March. Lucknow and NCR Region at Bulandshahar and revival of overall real estate Industry and huge potential in Infrastructure & Construction. TRANSFER TO RESERVES No amount was required to be transferred to Debenture Redemption Reserve. Your company has currently 53 projects at various stages of planning and development on the available land bank. projects from UP Projects Corporation Limited for modernisation of three ESI Hospitals at Cuttak and Bhubneswar for a total contract price of approx. Omaxe City. M/s Omaxe Infrastructure and Construction Limited. Apart from this other infrastructure and construction projects by your company include two Modern Jails at Faridkot and Kapurthala in the state of Punjab for a value of approx.31 mio and a Net Profit of Rs.DIVIDEND Keeping in view the current economic scenario and the future fund requirements of the Company. 774. integrated townships. shopping malls and commercial complexes. Rs. Omaxe Hills. Allahabad. projects from UP Rajkiya Nirman Nigam in Saharanpur for a total contract price of approx. . 8000 mio (approx. Uttarakhand. at Rishikesh. City Homes.72 mio. build and deliver best of Real Estate and quality construction. 1280 mio. Bhatinda. Government of India.43 mio and on Standalone basis. This includes hotels. Omaxe City Homes. As the year progressed. your company is set to embark a new journey. the year began on a sluggish note. Rs. 733 mio. The contract which is awarded by Ministry of Health & Family welfare. 10147. 100. Infrastructure/Construction Projects: Your company alongwith its subsidiaries has an order book of over Rs. 1034. Under this contract. 572 mio. 2760 mio and construction of a township at Dariba in Rajasthan for a value of approx. Further. Indore. Allahabad. Some of the projects which got tremendous response during the year are Hi-tech Townships at Allahabad.07 mio with Profit Before Tax of Rs. group housing projects. Annual Report 2009-10 9 .) for infrastructure and construction for third party(s). For overall Industry and for your Company. 8073. You Company has made fresh launches to target new set of customers and improved sales in its existing projects. Ludhiana. Mullanpur. Sonipat. Omaxe Twin Towers. 2100 mio and contract from HSRDC. 2010. your company's Consolidated turnover has been Rs. Faridabad. Your company focused on improving productivity. This project comes under the ambitious GOI scheme of Pradhan Mantri Swasthya Suraksha Yojana announced by the then Finance Minister P Chidambaram. your company will develop the college complex which will also house the hostel for boys and girls alongwith a separate hostel for the nurses.92 mio and a Net Profit of Rs. 907. With economy back on track. Rs 648 mio for the construction of All India Institute of Medical Sciences (AIIMS). the Company has achieved a Turnover of Rs. OPERATIONS AND OUTLOOK During the year. Industry was recovering from the aftermath of slowdown and had only started showing signs of recovery. It is the vision of your Company to achieve best of professionalism and to develop. reducing costs and utilised its cash flows most effectively during the period under review. OUTLOOK Your company is focussing on delivering quality real estate projects and further strengthening its Infrastructure & Construction Business. Further. 400 mio. a wholly owned subsidiary of the Company is having the Infrastructure and Construction Projects and it has been awarded with the work of Construction of 365 dwelling units for Air Force Naval Housing Board at Meerut for a Contract price of approx. Bahadurgarh and Omaxe New Heights. Omaxe Chandigarh Extension. Sangam City. the sales started picking up and overall demand showed a substantial improvement. an amount of Rs.46 mio with Profit Before Tax of Rs.

Mr. 1956 and Peer Review Certificate issued by the Institute of Chartered Accountant of India. Periodical reminders are sent to the respective depositors. 1975. 2010. Chartered Accountants the Statutory Auditors of the Company will retire at the conclusion of the ensuing Annual General Meeting. The Board recommends the appointment of M/s Doogar & Associates. AUDITOR’S REPORT The Notes on accounts and observations of the Auditors in their report on the Accounts of the Company are self-explanatory. AUDITORS M/s Doogar & Associates.02. The same will be settled as per the resolution of dispute. Independent Director is the Chairman of the Audit Committee.196/. However. steps are being taken for further strengthening the systems. However. Chartered Accountants the consent letter for appointment as Statutory Auditors of the Company for the Financial Year 2010-11. declaration under Section 224(1B) of the Companies Act. Independent Directors and Mr. Service Tax and Income Tax. All members of the Audit Committee possess sufficient knowledge and experience in the field of Finance and Accounts. UTILISATION OF IPO PROCEEDS There are no unutilized IPO proceeds with the Company as on date. Rohtas Goel. 1956 as well as Clause 49 of the Listing Agreement. There are certain dues of Sales Tax. Further outstanding Non convertible redeemable debentures of Series G. Prahlad Kumar Gupta. your directors have following comments on the observations in the Auditor's Report and recommendations of the Audit Committee: Except for delay in some cases in depositing statutory dues on account of administrative and clerical difficulties there are no arrears outstanding at the end of the financial year or for more than 6 months from the date they became repayable. 1. PUBLIC DEPOSITS During the year the Company has not accepted any fresh public deposit and is in complance to the provisions of Section 58A. Internal Control System of the Company has been devised through its extensive experience that ensures control over various functions of its business. Prahlad Kumar Gupta. Devi Dayal. Chartered Accountants the Statutory Auditors of the Company for the Financial Year 2010-11. The Company has received from M/s Doogar & Associates. Chairman and Managing Director of the Company.(including interest) as on March 31. Independent Director. It consists of four members namely Mr. and the amount is still remains unclaimed so far. 2009. 2009. of Rs. There were 52 cases of unclaimed deposits amounting to Rs. Padmanabh Pundrikray Vora. Mr. 10 mio each were redeemed on June 09. Mr. Independent Director. They have further declared that they are not disqualified for such appointment/ re-appointment within the meaning of Section 226 of the said Act. which has not been deposited on account of dispute. INTERNAL CONTROL SYSTEMS The Company has in-house Internal Audit Department. 10 mio each were redeemed upto September 28. 2050 mio are redeemable as per their current terms of redemption/ negotiations. J and L amounting to Rs.93. 10 Annual Report 2009-10 . The Company practises Quality Management System for Design.DEBENTURES Details of Non Convertible Redeemable Debentures: Series F: 100 Non Convertible Redeemable Debentures of Rs. Series K: 30 Non convertible redeemable debentures. AUDIT COMMITTEE The Audit Committee has been constituted in terms of Section 292A of the Companies Act. 58AA or any other relevent provisions of the Act and the companies (Acceptance of Deposits) Rule.

SUBSIDIARY COMPANIES The Company has 61 subsidiaries as on March 31. we will arrange to send the full balance sheet. Pursuant to the requirements of the SEBI (ESOS and ESPS) Guidelines. Reserves. 2010. Annual Accounts of the subsidiary companies and the related detailed information will be made available to the investors of holding and subsidiary companies seeking such information at any point of time and the Annual Accounts of the subsidiary companies will also be kept for inspection by any investor in its registered office and that of the subsidiary companies concerned. (Previous Year . As per Section 212 of the Companies Act. 2007. is identified and rectified in time. are enclosed and forms part of this Annual Report. Total Liabilities. 1956. Provision for taxation. List of Subsidiaries which have been consolidated at the year end is given in the Notes to Accounts. we are required to attach with the Balance Sheet of the company. We therefore.NIL) Annual Report 2009-10 11 . 2010. applied to the Ministry of Corporate Affairs. the details in respect of Omaxe ESOP Plan Alpha are given hereunder: Options granted NIL (Previous Year . Consolidated Financial Statements. The Ministry of Corporate Affairs.Planning and Construction & Marketing which fulfils the requirement of ISO 9001. Turnover.Nil) Pricing formula N. The detailed financial statements and audit reports of the subsidiaries are available for inspection at the registered office of the Company and upon written request from a shareholder. Omaxe ESOP Plan Alpha and Omaxe ESOP Plan Beta-2007. OMAXE ESOP PLAN ALPHA The Company has issued Omaxe ESOP Plan Alpha pursuant to the special resolution passed in the Extra Ordinary General Meeting held on January 4. Total Assets. EMPLOYEES STOCK OPTION PLANS The Company is having two ESOP schemes viz. Government of India. we will put the details of the accounts of individual subsidiary companies on the website of the Company i. whether financial or otherwise. which includes the financial information of the subsidiaries. Details of Investment (except in case of Investment in the Subsidiaries). 47/496/2010-CL-III dated May 11. Profit before taxation.omaxe. Periodic audits conducted by Internal Auditors and Statutory Auditors provide means whereby any weakness. of our Subsidiary Companies. www. Further.com. the Directors' Report. Profit after taxation and Proposed Dividend. Government of India has approved the same vide its letter No. In compliance with the terms of the exemption granted by Ministry of Corporate Affairs. As Permitted by SEBI guidelines and the Companies Act. we have presented summary financial information for each subsidiary which includes Capital. The details of ESOP plans are as under: 1.e. 1956 we have included consolidated financial statements of your company in this Annual Report. Pursuant to Accounting Standard AS-21 issued by the Institute of Chartered Accountants of India and Listing Agreement as prescribed by Securities and Exchange Board of India (SEBI).) Options vested NIL (Previous Year . Government of India for exemption from the requirement to present detailed financial statements of each subsidiary.N. We believe that the Consolidated Financial Statements present a more comprehensive picture rather than the standalone financial statements. Auditors’ Report etc. Balance Sheet and Profit and Loss Account. 1999. A. profit and loss account and auditor’s report to the said shareholder. A.

Not applicable) Employee Compensation Cost Since there is no option in force.None) Money realized by exercise of options No money has been realized till date. shall be disclose.Options exercised No options have been exercised till date in the above mentioned Scheme.NIL) Employee wise details of options granted to: Senior managerial personnel Nil (Previous Year .Nil) Any other employee with grant greater than 5% of total Options Nil (Previous Year .Nil) Employees getting options more than 1% of issued capital No employee of the Company has been awarded more than or equal to 1% of the issued capital (excluding outstanding warrants and conversions) of the Company at the time of the grant.NIL) Options lapsed Nil ( Previous Year .Since there is no option in force. Variation of terms of options None (Previous Year .Nil) 12 Annual Report 2009-10 .There had been no grant under this scheme and hence there is no impact on EPS) Exercise price and fair option value Not applicable. as no Options have been exercised till date. (Previous Year . 2008 as per the grant and vesting schedule of the Scheme). The impact of this difference on profits and on EPS of he Company shall also be disclosed. the difference between the employee compensation cost so computed and the employee compensation cost that shall have been recognized if it had used the fair value of the options. However. the employee compensation cost is Nil.000 shares options had lapsed on August 01. Total number of shares arising due to exercise of options NIL (Previous Year . Total number of options in force NIL (Previous Year . Diluted Earnings per Share There had been no grant under this scheme and hence there is no impact on EPS (Previous Year . (Previous Year .500.] Weighted average exercise price and fair value of options Nil (Previous Year . The Company will calculate the employee compensation cost using the intrinsic value of the stock options.No employee of the Company has been awarded more than or equal to 1% of the issued capital (excluding outstanding warrants and conversions) of the Company at the time of the grant). the employee compensation cost is Nil. (Previous Year .

as no options have been exercised till date. as no options have been exercised till date). the pricing formula would be as per the SEBI guidelines as at the time of grant of options).No options have been grated till date and hence. (Previous Year .No options have been granted till date under this scheme. This is based on various schemes launched by various organizations in the country.No option is in force under the scheme mentioned above). Options exercised No options have been exercised till date in the above mentioned Scheme. 2007.No options have been exercised till date in the above mentioned Scheme). (Previous Year . (Previous Year . no shares would arise due to exercise of options.Expected life Expected life of options granted to the employees is ten (10) years. Pricing formula No options have been granted till date under this scheme. Options vested No options have vested till date under the above mentioned Scheme. Total number of shares arising due to exercise of options No options have been grated till date and hence. (Previous Year . Pursuant to the requirements of the SEBI (ESOS and ESPS) Guidelines. OMAXE ESOP PLAN BETA-2007 The Company had adopted Omaxe ESOP Plan Beta-2007 pursuant to the special resolution passed in the Annual General Meeting held on September 27. Options lapsed No options have lapsed till date as per the grant and vesting schedule of the Scheme. the pricing formula would be as per the SEBI guidelines as at the time of grant of options. 1999.No money has been realized till date. (Previous Year . However.No options have been granted till date). (Previous Year . (Previous Year . Money realized by exercise of options No money has been realized till date.) Variation of terms of options No variation has been made to the terms of the scheme. no shares would arise due to exercise of options). (Previous Year . Employee wise details of options granted to: Senior managerial personnel Nil (Previous Year.Nil) Annual Report 2009-10 13 . However. given below are the requisites disclosures: Options granted No options have been granted till date.No options have vested till date under the above mentioned Scheme).Expected life of options granted to the employees is ten (10) years.No options have lapsed till date as per the grant and vesting schedule of the Scheme. (Previous Year. (Previous Year . Total number of options in force No option is in force under the scheme mentioned above. This is based on various schemes launched by various organizations in the country).No variation has been made to the terms of the scheme). 2.

1999 and the resolution passed by the General Meeting shall be placed at the forthcoming Annual General Meeting. (Previous Year . Employee Compensation Cost The employee compensation cost will be calculated as difference between the fair value of the shares and exercise price of the option. shall be disclosed.The employee compensation cost will be calculated as difference between the fair market value of the shares and exercise price of the option) Weighted average exercise price and fair value of options Nil (Previous Year . Exercise price and fair option value Not applicable. Since there are no options in force.Expected life of options granted to the employees is ten (10) years. DIRECTORATE In accordance with the provisions Section 255 and Section 256 of the Companies Act. The Board recommends their re-appointment. at the ensuing Annual General Meeting.Not applicable). Brief resume of the Directors proposed to be reappointed. and being eligible. However the difference between the employee compensation cost so computed and the employee compensation cost that shall have been recognised if it had used the fair value of the options. as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges are provided in the Corporate Governance Report forming part of the Annual Report. The impact of this difference on profits and on EPS of the company shall also be disclosed. Diluted Earnings per Share There has been no grant under this scheme and hence there is no impact on EPS. (Previous Year . A copy of certificate form the Auditors of the company that the scheme has been implemented in accordance with the SEBI (Employees Stock Options Scheme and Employees Stock Purchase Scheme) guidelines.Any other employee with grant greater than 5% of total Options Nil (Previous Year. nature of their expertise in specific functional areas and names of the companies in which they hold directorship and membership/ chairmanship of Committees of the Board. Devi Dayal and Mr. offer themselves for re-appointment. This is based on various schemes launched by various organizations in the country).No employee of the Company has been awarded more than or equal to 1% of the issued capital (excluding outstanding warrants and conversions) of the Company at the time of the grant). Directors of the Company who retire by rotation. the employee compensation cost is Nil. (Previous Year. (Previous Year . Padmanabh Pundarikray Vora. (Previous Year . 1956 and Articles of Association of the Company Mr. This is based on various schemes launched by various organizations in the country.Nil) Employees getting options more than 1% of issued capital No employee of the Company has been awarded more than or equal to 1% of the issued capital (excluding outstanding warrants and conversions) of the Company at the time of the grant.There has been no grant under this scheme and hence there is no impact on EPS). 14 Annual Report 2009-10 .Nil) Expected life Expected life of options granted to the employees is ten (10) years.

read with Companies (Disclosure of particulars in the Report of Board of Directors) Rules. (BSE) and The National Stock Exchange of India Ltd. LISTING The equity shares continue to be listed on The Bombay Stock Exchange Ltd. The earning in foreign currency is Rs. (Retd. the applicable accounting standards have been followed along with proper explanations relating to material departures. CONSERVATION OF ENERGY. 1956. 1988 pertaining to Conservation of Energy. RESEARCH AND DEVELOPMENT/TECHNOLOGY ABSORPTION/ FOREIGN EXCHANGE EARNING AND OUTGO The information required pursuant to Section 217 (1)(e) of the Companies Act. it is hereby confirmed that: (i) (ii) In the preparation of the annual accounts for the financial year ended March 31. The Company has implemented several best corporate governance practices as prevalent. Independent Director is the Chairman of the Investor Grievance Committee. Gen. Research & Development. Rohtas Goel. INVESTOR RELATIONS Investor Relations have been cordial during the year. and The National Stock Exchange of India Ltd. and annual custody fee to National Securities Depository Limited and Central Depository Services (India) Limited. with respect to Directors’ Responsibility Statement.) Bhopinder Singh. The Report on Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of this Report.DIRECTORS' RESPONSIBILITY STATEMENT Pursuant to the requirement under section 217(2AA) of the Companies Act. As a part of compliance. Lt. 2010 on a 'going concern' basis.35 Mio as against Rs. Both these Stock Exchanges have nation wide terminals and therefore. (iii) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act.37 Mio during the current year as compared to Rs. It consists of three members namely Lt. 16. PARTICULARS OF EMPLOYEES As required by the provisions of Section 217(2A) of the Companies Act. 2010. The Directors had selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at March 31. 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. 2010 and of the profit of the Company for the year ended on that date. 3. The details of this Committee are provided in the Corporate Governance Report forming part of the Annual Report. Gen. (NSE). Technology Absorption are not applicable to the Company. 5. Annual Report 2009-10 15 . Independent Director. (Retd. The Company has paid annual listing fee for the financial year 2010-11 to The Bombay Stock Exchange Ltd. 14.76 Mio earning in previous year and expenditure in foreign currency is Rs. 1956 read with the Companies (Particular of Employees) Rules.81 Mio in the previous year. and (iv) The Directors had prepared the annual accounts of the Company for the financial year ended March 31. Chairman and Managing Director of the Company. Prahlad Kumar Gupta.) Bhopinder Singh. shareholder/investors are not facing any difficulty in trading the shares of the Company from any part of the Country. 1956. REPORT ON CORPORATE GOVERNANCE The Directors adhere to the requirements set out by the Securities and Exchange Board of India's Corporate Governance practices and have implemented all the stipulations prescribed. the names and other particular of the Employees are set out in Annexure I. Independent Director and Mr. 1975 as amended. the Company has an Investor Grievance Committee to redress the issues relating to investors.

who have extended their valuable sustained support and encouragement during the year under review. The relationship with the employees remained cordial during the year.The requisite Certificate from the Statutory Auditors of the Company. Local Shopping Centre. 2010 Registered Office: Omaxe House 7. CAUTIONARY STATEMENT Statement made in this report or anywhere else in this Annual Report. Central & State Government authorities. Your Directors are thankful to the shareholders and customers for their continued patronage. ACKNOWLEDGEMENT Your Directors would like to express their sincere appreciation for assistance and co-operation received from the vendors and stakeholders including financial institutions. Chartered Accountants. Kalkaji. M/s Doogar & Associates. Your Directors wish to place on record their appreciation for impressive growth achieved through the competence. MANAGEMENT DISCUSSION AND ANALYSIS The Management Discussion and Analysis Report as required under Clause 49 of the Listing Agreement with the Stock Exchanges forms part of this Report. is attached and forms part of the Report. projections and expectations may constitute "forward looking statement" within the meaning of applicable laws and regulations. other business associates. confirming compliance with the conditions of Corporate Governance as stipulated under the aforesaid Clause 49. including those stated under the caption "Management Discussion and Analysis" describing the Company's plan. hard work. solidarity. For and on behalf of the Board For Omaxe Limited Sd/Rohtas Goel Chairman and Managing Director Place: New Delhi Date : 27th May. New Delhi-110019 16 Annual Report 2009-10 . Actual results may differ materially from those either expressed or implied. banks. cooperation and support of employees at all levels.

Jai Bhagwan Goel.A. For and on behalf of the Board For Omaxe Limited Sd/Rohtas Goel Chairman and Managing Director Place: New Delhi Date : 27th May.E. 2. 10.000/- B. Rohtas Goel was paid an amount of Rs. New Delhi-110019 Annual Report 2009-10 17 . 1975 A. 3) Nature of employment is contractual in case of Mr. 24.000/.A. 1975. 1956 read with Companies (Particular of Employees) Rules.898/.) Qualifications Experience (Years) Date of Commencement of employment 01-11-2006 The last employment held (Employer/ Designation) Started his career with Omaxe 1 Sandeep Mangla General Manager 37 2. Sunil Goel and Mr. (Maths) AMIE AMIE 24 20 31 27 5 Daleep Moudgil Director Business Development & Liaison 50 40. 12. Local Shopping Centre.000/- B. Mr. 2010 Registered Office: Omaxe House 7. to Mr.p. S. No.towards perquisites during the fiscal 2009-10. 4) There is no employee who is in receipt of remuneration in terms of the provisions of Section 217 (2A)(a)(iii) of the Companies Act. allowances and monetary value of perquisites of actual cost/ as per Income Tax Act Rules (Whenever applicable) and superannuation fund etc. Sunil Goel and Mr.000/24.00.078/.D.A MUNICIPAL CORPORATION OF FARIDABAD ERA CONSTRUCTION INDIA LTD. 2) Mr.000/- Diploma In Civil Engineering M.00.35.TO THE DIRECTORS' REPORT STATEMENT OF PARTICULARS OF EMPLOYEES PURSUANT TO SECTION 217(2A) OF THE COMPANIES ACT.00. ** In addition to above Mr.towards perquisites and Rs.000/.00.a. All other are in Full time employment of the Company. Rohtas Goel. Rohtas Goel.ANNEXURE I.00.25.per annum. The terms and condition of their appointment are governed by Company's policies and rules. No.was paid as Commission during the fiscal 2009-10. (Amount in Rupees) Name Designation/ Nature of Duties Age (Years) Remuneration (In Rs. Mr.000/.00.64. NOTES: 1) Remuneration includes salary. Kalkaji.000/1.00. Civil 30 20-11-2001 B. Employed throughout the year and in receipt of remuneration aggregating not less than Rs. 00.000/. 1956 READ WITH COMPANIES (PARTICULAR OF EMPLOYEES) RULES.40. 75. The last employment held (Employer/ Designation) 1 2 3 4 Rohtas Goel* Sunil Goel** Jai Bhagwan Goel Rajeev Kumar Goel Chairman & Managing Director Joint Managing Director Whole Time Director Director Construction 48 46 50 47 2. 13.00.) Qualifications Experience (Years) Date of Commencement of employment 11-04-1989 17-08-1992 05-06-2006 01-09-2006 – LECTURER D. The Company is also paying royalty of Rs.76.000/75. Jai Bhagwan Goel are brothers. Rohtas Goel.or more per month.5 * In addition to above Mr. 14. S. Employed for part of the year and in receipt of remuneration aggregating not less than Rs. Sunil Goel was paid an amount of Rs. (Amount in Rupees) Name Designation/ Nature of Duties Age (Years) Remuneration (In Rs.

The compliance of conditions of Corporate Governance is the responsibility of the Management. Our examination was limited to procedures and implementations thereof.Certificate on Corporate Governance To the Members of Omaxe Limited We have examined the compliance of corporate governance by Omaxe Limited for the year ended March 31. F080077 18 Annual Report 2009-10 . It is neither an audit nor an expression of opinion on the financial statement of the Company. 2010. In our opinion and to the best of our information and according to the explanations given to us.No. we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the above mentioned listing agreement. adopted by the Company for ensuring the compliance of the conditions of the Corporate Governance. as stipulated in Clause 49 of the Listing Agreement of the said Company with the Stock Exchanges. For M/s Doogar & Associates Chartered Accountants Sd/Place : New Delhi Date : 27th May 2010 MK Doogar Partner M. We state that such compliance is neither an assurance as to the future viability of the Company not of the efficiency or effectiveness with which the management has conducted the affairs of the Company.

2 Integrated Townships & 6 Commercial. During the last fiscal. As a sector which is directly impacted by the events and development in the economy.MANAGEMENT DISCUSSION AND ANALYSIS Management Discussion and Analysis dealing with the Company's objectives and expectations contains “forward looking statement” that lie within the ambit and meaning of applicable securities laws and regulations. IT & ITES and Biotechnology parks. The government and the Planning Commission expect the Indian economy to cross the double digit mark in the next two years.from the identification and acquisition of land to the planning. . across 17 projects – 9 Residential. The revival in demand in the residential segment is being driven partially by increased hiring and improvement in salaries. 9 shopping malls and commercial complexes and 2 hotel projects. changes in Government regulations. Actual results could differ materially from those expressed or implied. The Company is currently working on 53 projects – 21 Group Housing projects. i. The Forest Spa-Noida Perspective View Omaxe Ltd. commercial and residential projects for several prestigious Indian private. is a real estate development and construction Company with synergistic business presence in the infrastructure field. The housing sector alone contributes to 5-6% of the country's GDP The real estate sector is the second largest employer after agriculture. This outlook is based on assessment of the current business environment and government policies. Perspective View Omaxe Residency Lucknow Annual Report 2009-10 19 . This trend has been beneficial for Omaxe and approx. 21 Integrated Townships including a Hi-Tech City.68 million sq. tax regimes and economic developments within India and overseas. related sectors and other development are likely to cause variation in this outlook. The Board of Directors presents hereunder an analysis of performance of the Company for the year 2009-10 and its outlook for the future. which has resulted in better job security. as well as visible signs of a recovery in the commercial segment. along with construction and infrastructure projects. at a much faster and better than expected rate. 75% of the Company's residential units fall in the price range of Rs. The Company has an impressive track record of successful execution of more than 120 industrial. which was helped by the improving economy and the IT/ITES sector. ft. Omaxe has till date delivered 10. depending upon global and Indian demand-supply conditions. institutional. driven by volume growth in the affordable segment. Industry structure and developments During the last fiscal. Omaxe develops integrated townships. The changes in economy. commercial projects. to lead the path of global recovery. The Company's operations span all aspects of real estate development . group housing projects. hotels. execution and marketing of its projects. It is estimated that though residential sales volume recovered from the trough in December 2008-January 2009. public sector and multinational clients. With operations across 38 cities and 10 states in India. and partially by the shift in developers' focus to more affordable housing. the real estate sector witnessed a pick-up in demand. 5-30 lakhs. in less than 10 years of its foray into the real estate development arena. India's real estate sector has gone through a decisive learning curve during the last year. the Indian economy turned around after the second quarter. Another 8 ongoing infrastructure & contracting projects add to the Company's portfolio of ongoing projects. it is still way below the peak level. Infrastructure and real estate form the backbone of the country's progress and are critical drivers of its economic development.

The infrastructure space in India is opening up further and significant progress has been made in initiating expanded infrastructure development plans across the economy. nearly 85% of the programme is proposed to be undertaken through Public Private Partnership (PPP).84 billion in 20 Annual Report 2009-10 . with an average execution period of projects being 2 years. ramping up hiring plans and raising salaries. 14th November. in the National Highway Development Programme (NHDP).5 trillion (USD 500 billion) in investment for infrastructure development under the Eleventh Five Year Plan (2007-2012). on the back of its experience & expertise in this field. Given its strong track record of execution. 300. How big this opportunity matrix is can be gauged from the government investment in the infrastructure sector. suggests that the worst for commercial segment could be over. with hiring plans increasing across various industries.Commercial & retail: The commercial sector was directly impacted by the economic slowdown. 22. 800 crores. 'Affordable Housing in India. Increased emphasis is laid on the Public Private Partnership (PPP) approach for meeting the large financing requirements. which is expected to be around USD 425. which accounts for about 50-70% of demand in India's property sector. the country's office space absorption is expected to rise by 23 million sq ft within next three years. Poor demand from retailers forced developers to defer the expected mall supply of around nine million sq ft. Private investment into the sector is also projected to increase to USD 157. as compared to USD 47.5 million units by 2013 across all categories. into which the Company has recently forayed. mid and luxury segments.2 billion during the Eleventh Five Year Plan (2007-12).') With economy growing at a good pace. the projection for the year 2010. with increased interest from tenants and a downward correction in rentals taking place. Omaxe Infrastructure & Construction Ltd. Several service sectors are also witnessing a revival. as against USD 191. ii. the Company re-entered the construction business. 2009 and Knight Frank report titled. The present order book of Omaxe Infra and Construction projects is over Rs. The affordable housing segment is pegged to become a Rs. with the IT/ITES sector. better employment prospects. also offers an attractive demand proposition. from 4% of GDP to 8%. However. (Economic Times. potential for increasing urbanisation and favourable demographics. and hopes to achieve this either within the stipulated time period or in the first year of the 12th Five Year Plan. and ahead. investment in the country's infrastructure sector has doubled over the last five years. The pan India residential demand is estimated to be over 7. The positive growth trend also indicates that the entire construction industry avoided a steep decline during the downturn. to make the most of the burgeoning opportunity. Construction & infrastructure According to India's Planning Commission. Reports indicate that major office markets in India are expected to revive by Q2. The Planning Commission had targeted Rs.3 billion in the Eleventh Plan. in mid of 2008 through a fully owned subsidiary company.6 million sq ft in 2009. The economic growth is visible. The opportunity matrix across construction & infrastructure segments. Opportunities Key growth drivers and optimism for the real estate sector encompass a vibrant economy. Illustratively. Ongoing infrastructure building activity sustained the industry value from falling further. It is expected that India's GDP growth will gain and maintain a high growth momentum moving forward. improving sentiment among potential buyers.000 crore market by 2011. improving salary structures. including Economically Weaker Sections (EWS). affordable. The growth potential in the infrastructure space is remarkably significant and your Company is well positioned. The commercial property market witnessed absorption of nearly 19. as third party contractor. rising salaries and improving economic sentiment.3 billion during the Tenth Plan. 2010.

Volatile global economic environment. technology and information to manage the company better. cement. As seen in the recent past. • Strict adherence to industry standards. However. (IBEF). the Company is ideally positioned to benefit from the huge potential in this space.800 crore. 2010. It's a journey on which we have embarked together and on which we shall surge together to cross even bigger milestones ahead. These projects would cover states such as Gujarat.3 billion would be required over the next five years to undertake this project. Uttar Pradesh and Madhya Pradesh. in governmental policies relating to real estate. increase in financial charges. Limited investment from the organised sector. High interest rate. significantly raised the allocation for the sector. • Focus on operational excellence. like: • • • • • • Restrictive legislation and related adverse changes. • Focus on affordable housing for all. non-availability (or undue increase in cost) of raw materials. coupled with market fluctuations. risks and concerns India's real estate market is largely unorganised and dominated by a large number of small players (with limited corporate or large/ international names on the national scene yet).8 million on June 10. It is estimated that around USD 3. if any. The Company does not apprehend any inherent risk in the real estate industry in the long run. Key risks synonymous to the real estate industry include the global recessionary trend. Rising inflation. • Differentiation through quality and execution skills. iii. This included a significant step up (by 87 per cent) in the allocation under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The Budget for 2009-10. Today. except for a few continuing obstacles like the high incidence of stamp duty. • Fostering of closer and more meaningful relationships with the customers.100 crore. acknowledging the importance of infrastructure development. • Putting in place Corporate Governance Arrangements that are robust and durable. 15. the said risks can be averted if the government aligns its real estate policies along a regulatory framework. one needs to factor in the competition the real estate sector in India faces from several domestic and international players (especially since the opening of routes for Foreign Direct Investment). (Economic Survey) Roads Proposal for converting 10. such as land. 39. Further. West Bengal. instead of being restrictive in nature. (IBEF) Armed with a track record of excellence and equipped with the necessary strategic strengths.800 crore in the Interim Budget 2009-10 to Rs.000 km of state roads to national highways has been given by the Empowered Group of Ministers (EGoM) during the year. Threats. government policies have been supportive. Annual Report 2009-10 21 . the non-availability of low-cost long-term funds and tenancy laws for the real estate/construction sector. Some of these challenges may be enumerated as under: • Ability to comprehend the end-customer better. with the exception of certain primary concerns that have afflicted the progress of real estate industry in general. This investment is likely to be fulfilled through Public-Private-Partnership (PPP) projects that are based on long-term concessions. increase in allocation for the Railways from Rs. Real estate is one of the most overburdened tax segments in the country. steel and labour. Bihar.the Tenth Plan. a 23 per cent hike in the allocation under the National Highway Development Programme (NHDP). Omaxe is adequately equipped to face and mitigate any such adverse situation. economic slowdown. and increase of 144 % in the allocation under the National Rural Employment Guarantee Scheme (NREGS) taking the outlay to a level of Rs. the Cabinet Committee on Infrastructure (CCI) has approved four highway projects of about USD 543. 10. • Leveraging communication. • Stress on experimentation and innovation by introducing bolder and newer products.

along with signs of a recovery in the commercial segment. The Company is known to deliver products that answer to the highest benchmarks of quality and class. the Company has also diversified aggressively into areas like construction and infrastructure. Real Estate is the mainstream of business of the Company. the demand for urban premium housing is set to rise a whopping 6. Outlook The real estate sector is poised for a recovery due to a pick-up in demand. 22 Annual Report 2009-10 .Development of Real Estate. is more than offset by the Company's robust strengths.3 billion during the Tenth Plan. the composition and functioning of which is in accordance with the terms of Companies Act. real estate and construction & infrastructure. commensurate with its size and nature of operations. Construction & Marketing that comply with the requirements of ISO 9001:2001. and runs on a business model that is proprietary.coupled with the vision it has for the future places it in a league of its own. used efficiently and protected adequately. as against USD 191. Although real estate remains its mainstay.84 billion in the Tenth Plan. This contingency. covers all significant areas of the Company's operations and submits the report to the Audit Committee of the Company for their review in its meetings. apart from real estate. Infrastructure Investment in the infrastructure sector is expected to be around USD 425. as compared to USD 47. pioneering experience in handling projects and themes of all kinds and dimensions. vi. Leading research houses expect India's Gross Domestic Product (GDP) will quadruple over a period of 10 years. All internal policies and statutory guidelines are complied with in letter and spirit. The Company has adequate internal control systems in place. a cutting-edge management approach and its accent on continued innovation.The niche that Omaxe has created for itself coupled with the vision it has for the future places it in a league of its own. This investment is likely to be fulfilled through Public-PrivatePartnership (PPP) projects that are based on long-term concessions.3 billion in the Eleventh Plan. The Internal Auditor. Segment-wise or product-wise performance The Company (and its subsidiaries) has two principal streams of activities. driven by an improving economy and IT/ITES sector. Private investment into the sector is also projected to increase to USD 157. iv. The niche that Omaxe has created for itself . The Company's revenue is generated via two segments . The Company practises Quality Management System for Design.5 times within the next 10 years. It is projected that India is likely to be a USD 4. Beyond standard business risks. With rising income. and within this industry. Further. value-based and time-tested in real estate. viz. 757 billion in FY 2020. however. inter alia. 1956 as well as Clause 49 of the Listing Agreement. Planning. the Company faces competition from both its old competitors as well as new entrants in the sector. The real estate industry is set to receive the biggest boost as against any other industry over the next decade. the demand for urban premium housing is set to grow big time from Rs. v. the Company has also constituted an Audit Committee. Internal control systems and their adequacy Internal Control System of the Company has been devised through its extensive experience that ensures control over various functions in its business. and Construction & infrastructure. The Company is also focusing on construction & infrastructure sector. 116 billion in FY 2009 to Rs.2 billion during the Eleventh Five Year Plan (2007-12). Internal Control procedures at Omaxe are designed to ensure that: • • All assets and resources are acquired economically.5 trillion economy over the next decade.

With an eye to aligning employee objectives with its business goals. with Profit Before Tax of Rs. the Company has achieved revenue of Rs. with cordial relationships driving a positive morale and keeping the momentum up at all times. 1125. 774. LSC. 8073. the consolidated revenue has been of Rs. The financial performance of the Company directly correlates to its enhanced operational performance. On standalone basis.46 million. including number of people employed The Company strives to develop an atmosphere where employees can prosper and work to deliver high performance. 10147. the Company has developed HR policies.368. streamlining processes and chiselling its many developmental initiatives.43 million which increased by 41%. During the year. Discussion on financial performance with respect to operational performance. which extended to several new projects in the real estate and infrastructure development & construction space during the year. corporate objectives and the goals of the organisation in step. and as one. and to achieve its diverse organisational goals.31 million. Kalkaji New Delhi-110019 Omaxe City-Bhiwadi Annual Report 2009-10 23 . The management and the employees are dedicated to achieve the vision. Material developments in Human Resources / Industrial Relations front. The total number of employees of the Company as on March 31. 1034.72 million. with Profit Before Tax of Rs.92 million and a Net Profit of Rs. 2010 stood at 1.vii. 907. an increase by 25%. which increased by 104% and a Net Profit of Rs. Employees at Omaxe have always worked in an ambience of mutual respect. For and on behalf of the Board For Omaxe Limited Sd/Rohtas Goel Chairman and Managing Director Place: New Delhi Date : 27th May.07 million. viii. 2010 Registered Office: Omaxe House 7.

06. 2009 No. of Membership of Committees (Including Omaxe Limited) as on adoption of corporate governance report. Mr.2010. integrity and ethical standards are foundations for the conduct of business at 'Omaxe'. THE COMPANY'S PHILOSOPHY ON CORPORATE GOVERNANCE Transparency.2009. The company's philosophy on Corporate Governance lays strong emphasis on transparency and accountability in the functioning of the Company and conduct of business and places due emphasis on regulatory compliances. None of the directors is a member of more than 10 committees. The Company is committed to enhance shareholders value in the fair and transparent manner and has been in the forefront for bench marking itself with the best business practices. 08. 28.2009. Sunil Goel and Mr. of Board Meeting Attended during the year 2009-10 Public 1 2 3 4 5 6 7 Mr. 2010 No.2009. The Meetings were held on 11.06. Padmanabh Pundarikray Vora Mr. b) Board Meetings During the financial year ended March 31. Directorship and Committee Membership Category No. both within the organisation as well as in external relationships. 2. 24 Annual Report 2009-10 . The Company believes that good Corporate Governance strengthens the investors' trust and ensures a long-term partnership that helps in Company's objectives.2009. 2010. Prahlad Kumar Gupta and Lt. Mr. Notes: 1.REPORT ON CORPORATE GOVERNANCE 1. 31.Executive Director Independent Non.3. (Retd. BOARD OF DIRECTORS a) Composition The Board of Directors are comprised of 7 Directors. General (Retd.2009.05. 2. The philosophy is manifested in its operations through exemplary standards of ethical behaviour.Executive Director Independent Non.) Bhopinder Singh. 8 (Eight) meetings of the Board of Directors were held. Rohtas Goel Mr.10. Mr. Rohtas Goel. Jai Bhagwan Goel and four are Non-Executive and Independent Directors viz. Padmanabh Pundarikray Vora . c) Attendance.Executive Director Independent Non-Executive Director 8 8 8 8 8 8 7 Yes Yes Yes No Yes Yes Yes 16* 16* 13 3 6 1 1 Private 12 16 7 4 1 Member 3 3 2 4 3 1 Chairman 4 1 1 2 Attendance at the last AGM held on September 29. 31. The Maximum time gap between two Board Meetings was 89 days. The directorship/ committee membership is based on the disclosures received from the directors. Mr.) Bhopinder Singh Promoter/Executive Director Promoter/Executive Director Promoter/Executive Director Independent Non. Prahlad Kumar Gupta Lt. Mr. Name of Director No * Out of 16 Companies one is Foreign Company. 30. Devi Dayal.2010 and 18.0. 29. Sunil Goel Mr. This translates into the philosophy on 'Corporate Governance' of the Company.01. Jai Bhagwan Goel Mr.08. Devi Dayal Mr. Gen.2009. Sl. of whom 3 are Executive Directors viz. of Directorship of Companies (Including Omaxe Limited) as on March 31. At 'Omaxe' it is believed that adoption of best practices of Corporate Governance ensures long term relations with the investors and customers of the Company and enhances the shareholder value.07.

Kumar Infraprojects Ltd. Shareholding in Omaxe Limited Mr. No. 2010. Devi Dayal is an independent non executive director of the company and he does not hold any equity share in the Company in his name as on 31st March. is an independent director of the Company and has over 38 years experience in the fields of administration and finance. Directorship of Companies (as on 31. Mumbai. starting of in 1967 as a probationary officer with State Bank of India held various prestigious positions in the industry such as Chairman and Managing Director of National Housing Bank and retired as Chairman and Managing Director of Industrial Development Bank of India in 2003. Remuneration Committee and Committee for further Issuance of the Company. During his long and illustrious career as banker. Further. 1 2 Name of the Company Jindal Saw Limited Sunair Hotels Limited Position Director Director He is a member of the Audit Committee and Remuneration Committee of the Company. aged 68 years.d) Brief profile of the Directors proposed for appointment/ re-appointment i) Mr. Reliance Homes Finance Pvt. Government of India. No. 1 2 3 4 5 6 7 8 9 Name of the Company Rama Cylinders Private Limited National Securities Depository Limited Zandu Realty Limited Reliance Capital Trustee Company Limited J. Reliance Consumer Finance Pvt. He is presently a consultant with C 3 Advisors Private Limited.03. Shareholding in Omaxe Limited Mr. Asian Business Exhibition & Conferences Ltd.2010) SL. Annual Report 2009-10 25 . Padmanabh Pundarikray Vora. Ltd. AUDIT COMMITTEE i) Terms of reference 1. Presently he is practicing as advocate in Supreme Court of India. Ltd. Directorship of Companies (as on 31.2010) SL. Devi Dayal. 2010. ii) Mr.03. sufficient and credible. is an independent director of the Company and has over 44 years experience in finance. he is the Chairman of the ESOP Grant Committee of the Company. He holds a bachelor's degree in commerce and is a chartered accountant by profession. 3. Oversight of the Company's financial reporting process and disclosure of its financial information to ensure that the financial statements are correct. banking and management. He holds a master's degree in philosophy and a bachelor's degree in law from the Allahabad University. The Nilgiris Dairy Farms Pvt. Position Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Non executive Chairman Independent Director He is a member of the Audit Committee. Padmanabh Pundarikray Vora is an independent non-executive director of the Company and he does not hold any share in the Company in his name as on 31st March. Ltd. He is 1966 Batch IAS officer and after serving in various important and prestigious positions in UP Government moved on to the Central Government and retried as Secretary (Banking) Ministry of Finance. aged 69 years.

4. submitted by management. Prahlad Kumar Gupta is the Chairman of the Committee. 3. 10. Compliance with accounting standards. Rohtas Goel. 3. 6. Auditors of the Company were also invited whenever the financials of the Company are considered by the Committee. 5. Reviewing the Company's financial and risk management policies. removal and terms of remuneration of the Chief internal auditor shall be subject to review by the Audit Committee. Discussion on internal Auditors significant findings and follow up there on. 8. statutory and internal Auditors. Mr. The Company Secretary acts as Secretary for the Committee. 4. Approval of payment to statutory auditors for any other services rendered by the statutory auditors. Reviewing with the management. Recommending the appointment and removal of statutory and internal Auditors (whenever required). 11. Prahlad Kumar Gupta. Internal audit reports relating to internal control weaknesses. Devi Dayal and 1 Executive Director viz. Mr. Further the Audit Committee shall mandatorily review the following information: 1. Padmanabh Pundarikray Vora and Mr. Major accounting entries based on exercise of judgment by management. Reviewing. reporting structure coverage and frequency of internal audit. ii) Composition The Committee comprises of 3 Non Executive and Independent Directors viz. Chairman and Managing Director of the Company.2. 9. Reviewing with Management the quarterly / half yearly and the annual financial statements before submission to the Board. and The appointment. The going concern assumption. To look into the reasons for substantial defaults in the payment to the depositors. Compliance of legal requirement concerning financial statements. 2. Mr. The Committee invites concerned officials from Accounts Department and Internal Audit Department as and when required. Discussion with statutory Auditors about the scope of audit as well as have post audit discussion to ascertain any area of concern. 5. 26 Annual Report 2009-10 . shareholders (in case of non payment of declared dividends) and creditors. with the management. Management discussion and analysis of financial condition and results of operations. 1956 Any Change in accounting policies and practices. 12. Any related party transactions. the quarterly financial statements before submission to the board for approval Reviewing the adequacy of internal audit function. Reviewing the findings of any internal investigations by the internal Auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the Board. fixation of audit fee and also approval for payment for any other services. focusing primarily on: – – – – – – – Matters required to be included in the Director's Responsibility Statement to be included in the Board's report in terms of clause (2AA) of section 217 of the Companies Act. the adequacy and compliance of internal control system. Mr. Management letters / letters of internal control weaknesses issued by the statutory auditors. Statement of significant related party transactions (as defined by the audit committee). 7. debenture holders.

e. P P Vora was elected as the member of the Audit Committee w. Lt.01. Lt.f. 28. 29.P Number of Meeting Attended 7 7 7 5 Note: Mr.) Bhopinder Singh is the Chairman of the Committee. P Gupta . Mr.2009. 30. No. Annual Report 2009-10 27 . Gen (Retd) Bhopinder Singh Mr.2010.000/. 2009.) Bhopinder Singh. The remuneration policy is in consonance with the existing Industry practice.for attending each meeting of any of the Committee thereof apart from commission not exceeding 1% of the net profits of the Company.2009.000/. ii) Composition The Committee comprises of 3 independent non executive Directors viz.10.08. .for attending each meeting of the Board and Rs.05. Devi Dayal Lt. Rohtas Goel Mr. Padmanabh Pundrikray Vora and Mr. 20. based on review of achievements on periodical basis.2009. 7 (Seven) meetings of the Committee were held on 11.2009. No. REMUNERATION COMMITTEE i) Terms of reference 1.03.07. Gen (Retd. 1 2 3 4 Member Mr. Devi Dayal Mr. Vora . . Joint Managing Director and Whole Time Director is for certain period from their respective dates of appointments and can be terminated by either party by giving proper notice in writing. 1 2 3 Member Mr. 2010. 31. The Non-executive and independent director are paid sitting fee at the rate of Rs. 4. July 31. 2010. P P Vora . Devi Dayal Mr. Details of attendance of members at these meetings are as given below: Sl. Gen (Retd. 10.10. 2.2009.2009. Mr. The Company Secretary acts as Secretary for the Committee.08.2009 and 31. Details of attendance of members at these meetings are as given below: Sl. To work under the control & supervision of the Board of Directors. . 31.06. To consider and approve remuneration / compensation of managerial personnel of the Company as per the requirement of the Companies Act. The tenure of office of the Managing Director. Number of Meeting Attended 2 2 2 iv) Remuneration Policy The remuneration policy of the Company is directed towards rewarding performance. 2 (Two) meetings of the Committees were held on 28.2010 and 18.iii) Meeting and attendance during the year During the financial year ended March 31. iii) Meeting and attendance during the year During the financial year ended March 31. P . 1956 and to perform such acts and assignments as may be assigned to the committee by the Board of Directors from time to time.K.

Devi Dayal*** Mr.was paid as Commission during the fiscal 2009-10. one meeting of the Committees were held on 31st July 2009. Additional Vice President(Finance) & Company Secretary acts as the Secretary of the Company and is also the Compliance Officer of the company. Rohtas Goel was paid an amount of Rs. 10. There is no service contract separately entered into by the Company with the Directors.for each meeting of the Committees thereof apart from commission not exceeding 1% of the net profits of the Company.76.50.000 2.p.00. P . Devidayal. Composition The Committee comprises of 2 Non-executive Directors viz. Vora*** . Mr. 2.000 - In addition to above Mr.v) Details of Remuneration of Directors (For Year Ended 31.) Bhopinder Singh is the Chairman of the Committee. 75.000/. 1 2 3 4 5 6 7 * ** *** Name of the Director Mr. Padmanabh Pundarikray Vora and Mr.078/.90.) Bhopinder Singh and Mr. P K Gupta Salary 2.000 1. In addition to above Mr.000 Total 2.P Mr. Jai Bhagwan Goel Mr. Mr.000 PF Medical Leave Encashment Bonus Sitting Fees 2. (Retd. Further. All the members of the Committee were present in the meeting.000/.000 75.03. 3. Venkat Rao.50. 3. the resolutions appointing these Directors do not prescribe for the payment of any separate Severance Fees to them. Sunil Goel** Mr.000 2. Sunil Goel was paid an amount of Rs. Rohtas Goel* Mr. In addition to above Mr. 12. However. ii) To consider and review the queries/complaints received from Share/ Debenture Holders To take steps to redress queries/ complaints and ensure speedy satisfaction to shareholders/ investors.000/each. 1956 as well as the Articles of Association of the Company. INVESTOR GRIEVANCE COMMITTEE i) Terms of reference 1.898/.00.00. Bhopinder Singh*** Mr.000/. No.90. Prahlad Kumar Gupta and 1 executive Director viz. Service Contract. Bhopinder Singh were paid commission of Rs.towards perquisites during the fiscal 2009-10.00.50. Rohtas Goel. the requirement of notice period is as per the service rules of the Company. Gen (Retd. Gen.35. 10.25. Lt.25. Rohtas Goel. Lt.000 2.000 1.00.000 1. Criteria of making payments to Non-Executive Director The Non-executive and independent directors are paid sitting fee at the rate of Rs.00.64.50.000 1.00.towards perquisites and Rs.for attending each meeting of the Board and Rs. 13. The Company is also paying royalty of Rs. Severance Fees and Notice Period Directors of the Company are ultimately appointed by the Shareholders upon recommendation of the Board of Directors within the framework of the Companies Act.2010) (in Rupees) Sl. 2010. To work under the control & supervision of the Board of Directors.00.000 75. Resolutions passed by these two governing bodies together with the service rules of the Company covers the terms. Chairman and Managing Director of the Company. 20. To perform such acts and assignments as may be assigned to the committee by the Board of Directors from time to time. 5. iii) Meeting and attendance during the year During the financial year ended March 31.35.00. conditions and remuneration of such appointment. Mr. to Mr.a. 28 Annual Report 2009-10 .000/. 4.

7. 6.e. Devi Dayal. The Committee will meet as and when required.09. Jai Bhagwan Goel as Whole Time Director for a period of 5 years w.2008 (Monday) 27.2007 Section reference 198. The Committee meets as and when required. 269 and 309 163 79A and 81 (1A) Regarding Appointment of Mr. The Company Secretary acts as Secretary of the Committee.09.09. Devi Dayal is the Chairman of the Committee. No. Sunil Goel as Joint Managing Director. All of which were satisfactorily attended.2007 (Thursday) Time 11:00 AM. 3. The pending complaints are related to Consumer Court cases received during the Financial Year. 90 complaints were received from the shareholders. 2008-09 to 2012-13. The Company Secretary acts as Secretary of the Committee. 5.M. Mr.M. Mr.30 A. Bansal. Re-appointment of Mr.2008 29.09. and Mr.e. The Company Secretary acts as the Secretary of the Committee. Vipin Aggarwal as Executive Director for a period of three years. No valid transfer/ transmission of shares were pending as on March 31. i. Mr. 269 and 309 198. Mr. 7.iv) Shareholders' Complaints During the year ended 31st March 2010. OTHER COMMITTEES The Company is having following other Committees formed to speed up the routine matters and to comply other statutory formalities: i) Executive Committee of Board of Directors The Committee comprises of 4 members viz. Re-appointment of Mr. The Committee meets as and when required. Prahlad Kumar Gupta. Institutional Area. Mr. The Company Secretary acts as Secretary of the Committee. 4.2009 29. Rohtas Goel. Vimal Gupta. Lodhi Road.f. copies of certificates and documents at the office of the Registrar & Share Transfer Agent of the Company.09. To prepare and finalize Omaxe ESOP Plan Beta -2007 for employees and directors of the company except promoters. No. 269 and 309 309 198.09.2009 29. 3. 2010. The Committee meets as and when required. Rohtas Goel as Chairman and Managing Director. Sunil Goel. To keep the Register and Index of Members.K. Annual Report 2009-10 29 .2009 (Tuesday) 29. Rohtas Goel. Rohtas Goel. Gen (Retd) Bhopinder Singh and Mr. iii) ESOP Grant Committee The Committee comprises of 3 members viz. Appointment of Mr. 6. 2 complaints are pending at the end of the year. 269 and 309 198. New Delhi-110003 Air Force Auditorium. Rohtas Goel is the chairman of the Committee. Meeting Date 29. 1 2 3 Date and Day of AGM 29. Payment of commission upto 1% of the Net Profit of the Company to the Non-executive directors for a period of 5 years i. Lt. 11. Mr.2008 27. 1st October 2009 till 30th September 2014. New delhi-110049 Sri Sathya Sai International Centre. Mr. 2. Mr. S. time and venue of the Annual General Meetings of the Company held during the last three years are given below: Sl. Sunil Goel. Prahlad Kumar Gupta and Mr.30 P . Rohtas Goel.09. Rohtas Goel is the Chairman of the Committee.09. Pragati Vihar. August kranti Marg. iv) Committee for Further Issuance The Committee comprises of 3 members viz. Subroto Park. New Delhi-110010 Following Special Resolutions were passed at the aforesaid meetings: Sl.2007 27. ii) Share/ Debenture Transfer Committee The Committee comprises of 3 members viz. Mr. GENERAL BODY MEETINGS ANNUAL GENERAL MEETINGS The date. Mr. Venue Siri Fort Auditorium. Mr. Rohtas Goel is the Chairman of the Committee. Padmanabh Pundrikray Vora and Mr.09. Mr.09. 1.2007 27.

the 19th day of August. Bombay Stock Exchange ii. Equity Code: i. ISIN No. d. MEANS OF COMMUNICATION The quarterly and annual financial results of the Company are normally published in the leading newspapers like 'The Financial Express' in English and 'Jansatta' in Hindi. New Delhi .m. before August 15. 9. Bandra Kurla Complex Bandra East. 8.Significant Accounting Policies and Notes to Accounts (Point no. 11. Securities and Exchange Board of India or other statutory authorities relating to the capital markets as and when and to the extent it become applicable to the Company. c.110010 at 11. 30 of the Notes to Accounts). Mumbai-400001 National Stock Exchange of India Limited Exchange Plaza. The results are also posted on the Company's website www. Subroto Park. Amendment in the Articles of Association of the Company. 2010 before end of November 15. National Stock Exchange iii. Increase in Authorised Share Capital and consequential amendments in the Memorandum of Association of the Company. 1800 Crores through further issuance of securities in the Company. b. Approval for increase in the limit of 24% for holding by registered Foreign Institutional Investors (FIIs) upto 100%. Annual listing fee for the financial year 2010-11 have been paid to the above Stock Exchanges.omaxe. Whistle Blower Policy The Company intends to promote a policy for employees to have an open access to the respective Functional Heads. 2010. 2010 before end of February 15. 2009 to transact the following SPECIAL businesses: a. d. 2011 before end of May 2011 Date of Book Closure : 16th August 2010 to 19th August 2010 (Both days inclusive) Listing on Stock Exchange Equity Shares of the Company are listed on: i. e. 2010 at Air Force Auditorium. DISCLOSURES i) ii) Materially significant related-party transactions have been given in Schedule 22. Managing Directors as well as Executive Chairman so as to ensure ethical and fair conduct of the business of the Company. b.com from time to time. No penalties or strictures have been imposed by them on the Company in the last three years. of Equity Shares : 532880 : OMAXE : INE800H01010 30 Annual Report 2009-10 . Raising of additional long-term funds upto Rs. Financial Calendar 2010-11 (Tentative and Subject to change) First Quarterly results Second Quarterly results Third Quarterly results Annual results c. iii) 10.00 a. Mumbai-400051 ii.ii. GENERAL INFORMATION FOR SHAREHOLDERS a. EXTRA ORDINARY GENERAL MEETING One Extra Ordinary General Meeting was held on July 06. POSTAL BALLOT No resolution was passed by postal ballot during the financial year ended March 31. HeadHRD. Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street. Annual General Meeting The Annual General Meeting of the Company is scheduled to be held on Thursday. The Company has complied with various rules and regulations prescribed by the Stock Exchanges. The financial results are also furnished to stock exchanges.

) 66 105.6 134.25 96.5 87 88.5 136.15 120 127.5 100.5 89. Company's share price as compared to BSE Sensex ii.15 86 85.55 115 103.9 127.6 105.) Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 66 105.55 74.65 105.8 114.5 136.) 47 54.5 90.5 134.8 90. Performance of the Company's Share price as compared to BSE Sensex and S & P CNX Nifty' i.2 89.9 103.1 97.15 BSE Low Price (Rs.25 NSE Low Price (Rs.5 100.8 130 119.35 97 87 87.) 47 54.7 101.8 101. Market Price Data: Monthly high and low market price data of equity shares traded on Stock Exchange: Month High Price (Rs. Company's share price as compared to Nifty Annual Report 2009-10 31 .f.75 126.75 88 High Price (Rs.5 100.4 113.95 g.75 88.05 74 95.

500 5. Shareholders 124116 3816 1473 501 160 56 50 81 94 133130 % 95.001 2.001 40. Financial year 2007-2008 Date of declaration of Dividend September 29.322 94.1.833 0.001 30.04 0.13 0.000 10.136 0. Registrar & Share Transfer Agent M/s Link Intime India Private Limited is the Registrar and Share Transfer Agent (RTA) of the Company in respect of the Equity shares held in demat and physical mode.00. 2015 Shareholders who have not so far encashed their dividend warrant(s) or have not received the same are requested to seek issue of Demand Draft/Pay order by writing to the Company or to the Registrar & Share Transfer Agent of the Company confirming non-encashment/ non-receipt of dividend warrant(s). : 011-41410591 E-mail : delhi@linkintime.000 40.000 50.22 2.000 1.06 0. 93.001 .657 0. Its address is as follows: M/s Link Intime India Private Limited (Unit: Omaxe Limited) A-40. Unclaimed Dividend The Dividend for the under noted year remaining unclaimed for 7 years will be transferred in the Investors Education and Protection Fund (IEPF) by the Company in accordance with the schedule given below.38 0. Once unclaimed dividend is transferred to IEPF.03.in k.co. i. Unclaimed Shares & IPO Refund The shares issued by the Company by way of Initial Public Offer (IPO) and remained unclaimed are presently lying in the Demat Account named and styled as "OMAXE LTD UNCLAIMED SHARES DEMAT SUSPENSE ACCOUNT. l.000 30.000 20. Near Batra Banquet Hall New Delhi-110028 Telephone No : 011-41410592.142 0.001 10. Share Transfer System: M/s Link Intime India Private Limited processes the share transfer/transmission requests on a fortnightly basis and the same are approved by Share/ Debenture Transfer Committee constituted by Board of Directors. 94 Fax no.93 1.07 100 No. Naraina Industrial Area Phase II. no claim shall lie in respect thereof. of Shares 5453831 1445292 1139855 734425 401177 201068 236526 558170 163396656 173567000 % 3.h.423 0.001 & Above Total 32 Annual Report 2009-10 . Distribution of Shareholding as on 31.000 No.001 20.501 5." Shareholders who have not so far received their shares allotted to them in IPO or the refund of money invested in IPO are requested to contact by writing to the Company and/or to the Registrar and Transfer Agent of the Company alongwith necessary documents for non-receipt of the shares and/or refund order.04 0.00.231 0.14 100 50. j. 2008 Due date for transfer to IEPF November 4.12 0.2010 Range of Equity Shares Upto 2.116 0.

17 5381914 3.e. n.2010 Category code (A) 1 (B) 1 (a) (b) 2 (a) (b) I II (c) (1) (2) (3) (4) (5) Category of Shareholders Shareholding of Promoter and Promoter Group Indian Total Public Shareholding Institutions Financial Institutions / Banks Foreign Institutional Investors Sub-Total Non-institutions Bodies Corporate Individuals Individuals -i.00 0. As on March 31. Outstanding GDRs /ADRs /Warrants or any Convertible instruments. Individual shareholders holding nominal share capital in excess of Rs. one of the promoter company of the Company. Dematerialisation of shares and liquidity The shares of the Company are tradable compulsorily in demat form and are available for trading in the depository systems of both National Securities Depository Ltd.14 89.05% of the Company's total share capital was held in dematerialized form.04 0. (CDSL).10 3164670 723291 3887961 1. GDRs or any other convertible instruments. (NSDL) & Central Depository Services (India) Ltd. o.03. p. However. The International Security Identification Number (ISIN) allotted to the Company's Equity Shares is INE800H01010.42 2. The Registered Office of the company is located at: 7.17 8. conversion date and likely impact on equity The Company has not issued any ADRs. Local Shopping Centre Kalkaji.01 0. the company does not have any manufacturing or processing plants. Individual shareholders holding nominal share capital up to Rs 1 lakh ii. Shareholding Pattern as on 31.82 0. 1 lakh.62 10. The Company's shares are actively traded on both the exchanges i.86 100.12 0. New Delhi-110019 Annual Report 2009-10 33 .00 8699393 301803 5.00 0.24 154725636* 154725636* 89. Any Other (specify) Trusts Non Resident Indians Overseas Corporate Bodies Clearing Members Hindu Undivided Families Sub-Total Total GRAND TOTAL (A)+(B) 613 210666 1601 60983 296430 14953403 18841364 173567000 0. 70. 2010.m. BSE and NSE.14 Number of Shares Percentage of Shares *Excludes 38883 equity shares for which intimation U/s 187 C of the Companies Act. Plant Locations: The Company is in real estate and Construction business and have the projects all over India. 1956 has been received that the beneficial interest in these shares are held by M/s Dream Home Developers Private Limited.

q. CEO/CFO Certification As required by Clause 49 of the Listing Agreement. 2010. Venkat Rao. Rohtas Goel. Sd/Rohtas Goel Chairman and Managing Director Place: New Delhi Date: May 27. Local Shopping Centre Kalkaji. Nomination Facility: Members are allowed to nominate any person to whom they desire to have the shares transmitted in the event of death. 14. 94 Fax no. All Board Members and the Senior Management personnel have affirmed their compliance with the said Code of Conduct for the financial year ended March 31. the Company has laid down a Code of Conduct for its Board of Directors and Senior Management. Chairman and Managing Director and Mr. is handled by the Company's Registrar & Share Transfer Agent at the following address: M/s Link Intime India Private Limited (Unit: Omaxe Limited) A-40. A copy of the Certificate is enclosed with the report. confirming compliance with the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement. The declaration to this effect duly signed by Mr. : 011-41410591 E-mail : delhi@linkintime. Company Secretary is the Compliance Officer as per Clause 47 of the Listing Agreement with stock exchanges and Investors' complaint may also be addressed to him at the following address: Company Secretary Omaxe Limited 7. For Omaxe Ltd. Chartered Accountants. 12. 2010. Vimal Gupta. was placed before the Board of Directors at its meeting held on May 27. Members desirous of availing this facility may submit the prescribed Form 2B to the Company. Near Batra Banquet Hall New Delhi-110028 Telephone No : 011-41410592. 93. AVP (Finance) & Chief Financial Officer of the Company. is given hereunder: Declaration under Clause 49 I (D) For compliance with the Code of Conduct As per the requirements of Clause 49 of the Listing Agreement entered into between the Company and the Stock Exchanges.in ii) Mr. Chairman and Managing Director of the Company confirm the compliance of this Code of Conduct by myself and other members of the Board of Directors and Senior Managerial personnel as affirmed by them individually. Chairman and Managing Director. Address for Correspondence by investors: i) All work related to Shares Registry. the Certificate duly signed by Mr. The Code of Conduct has been posted on the website of the Company. COMPLIANCE OF CODE OF CONDUCT Your Company has laid down a Code of Conduct for all the Board Members and Senior Management personnel of the Company. Naraina Industrial Area Phase II.com r. 13. New Delhi-110019 Telephone : 011-41896757 Fax : 011-41893227 Email : vrr@omaxe. COMPLIANCE CERTIFICATE FROM THE AUDITORS OF THE COMPANY Certificate from M/s Doogars & Associates. Rohtas Goel.co. Rohtas Goel. I. is annexed to the Directors' Report forming part of the Annual Report. both in physical and electronic form. 2010 34 Annual Report 2009-10 .

omaxe. PROMOTERS AND CONTROLLING GROUP The promoters/ promoter group of the company are as follows: S. these results are also posted on the website of the Company www. No.com. The details of Remuneration Committee as to scope and composition are detailed out earlier in this report. II. Shareholders' Rights: The Quarterly. All independent directors are appointed/ reappointed in accordance with guidelines determined by the Board from time to time. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Name Rohtas Goel Sunil Goel Jai Bhagwan Goel Sushma Goel Seema Goel Constellation Capital Limited Dream Home Developers Private Limited Guild Builders Private Limited J B Realcon Private Limited Kautilya Monetary Services Private Limited Naj Builders Private limited S A Finvest Limited Green Tech Tower Builders Private Limited Rohtas Goel (HUF) Sunil Goel (HUF) 16. compliance of other requirements of the said clause is provided below: I. III. Training of Board Members: The Board of Directors of the Company is continuously briefed with the developments and performance of the Company so as to enable them to monitor the same at regular intervals. Audit Qualifications/ Remarks As explained in Directors' Report. OTHER REQUIREMENTS UNDER CLAUSE 49 OF THE LISTING AGREEMENT The company has complied with all the mandatory requirements of Clause 49 of the Listing Agreements entered with the Stock Exchanges. Annual Report 2009-10 35 . Remuneration Committee: The Company has formed a Remuneration Committee.15. Further. No maximum tenure has been specifically determined for the independent director. IV. Reports on risk assessment and minimization process and new initiatives proposed by the Company are also presented to them for suggestions and upgradation. Annual Report containing the detailed Balance Sheet and Profit & Loss Account is also sent to individual shareholders of the Company. Non-Executive Chairman's Office The Chairman of the Company is the Executive Chairman and hence this provision is not applicable. V. half-yearly and annual financial results of the Company are duly published in English language in newspapers having nation-wide circulation and also in regional language newspapers of the registered office of the Company. Further.

to the best of our knowledge and belife. 2010 and that of the best of our knowledge and belief: (i) (ii) these results do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading. LSC Kalkaji. New Delhi-110019 We hereby certify the following that: (a) We have reviewed financial results for the Financial Year ended March 31. (c) We accept responsibility for establishing and maintaining internal controls for financial reporting and that have evaluated the effectiveness of internal control systems of the company pertaining to financial reporting and have disclosed. illegal or violative of the Company’s Code of Conduct. these statements together are true and fair and are in compliance with existing accounting standards. Mechanism of evaluation of Non-Executive Directors: The Board of Directors including Non-Executive Directors is cast with the responsibility of strategic supervision of the Company. Sd/Vimal Gupta AVP (Finance & Accounts) 36 Annual Report 2009-10 . the Board evaluates its Non-Executive Directors on the basis of individual contribution towards fulfillment of this responsibility. from time to time. if any. 2010 and that the same have been disclosed in the notes to the financial statement. of operation of such internal controls and that such further improvement in design & structure are being made to meet the growing requirements of business. significant changes in accounting policies during the Financial Year ended March 31.VI. 2010 Registered Office: Omaxe House 7. For Omaxe Ltd. of the management or an employee having a significant role in the company’s internal control system over financial reporting. (iii) no instances of significant fraud of which we have become aware and the improvement therein. Kalkaji.2010 The Board of Directors Omaxe House 7. applicable laws and regulations. For and on behalf of the Board For Omaxe Limited Sd/Rohtas Goel Chairman and Managing Director Place: New Delhi Date : 27th May. Local Shopping Centre. to the auditors and the Audit Committee. no transactions entered into by the company during the year which are fraudulent. 2010. Sd/Rohtas Goel Chairman & Managing Director For Omaxe Ltd. if any. (d) We have indicated to the auditors and the Audit committee (i) (ii) significant changes in interial control over financial reporting during the Financial year ended March 31. if any. In view of the same. New Delhi-110019 CFO Certification Date: 27. (b) There are.05.

we report that none of the director is disqualified as on March 31. An audit includes examining. 4. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. In our opinion. we report that: i) a) b) c) ii) iii) We have obtained all the information and explanations. the Profit and Loss Account and also the Cash Flow Statement for the year ended on that date annexed thereto. of the state of affairs of the Company as at March 31. 80077 Place: New Delhi Date: 27th May. For Doogar & Associates (Regn. proper books of account as required by law have been kept by the Company. we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. In our opinion and to the best of our information and according to the explanations given to us. Further to our comments in the annexure referred to in paragraph 3 above. The Balance Sheet. and In the case of the Cash Flow Statement. 2. so far as appears from our examination of those books.AUDITORS' REPORT To the Members of Omaxe Limited 1.K. We believe that our audit provides a reasonable basis for our opinion. We conducted our audit in accordance with the Auditing Standards Generally Accepted in India. An audit also includes assessing the accounting principles used and significant estimates made by management. Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account. 2010 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Act. 3. 2010 and taken on record by the board of directors. In the case of the Profit and Loss Account. as at March 31. and on the basis of such examination of the books and records of the Company as we considered appropriate and the information and explanations given to us during the course of the audit.000561N) Chartered Accountants Sd/M. . On the basis of written representations received from the directors. Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Act. of the cash flows of the Company for the year ended on that date. as well as evaluating the overall financial statements presentation. 2003 as amended by Companies (Auditor Report) (Amendment) Order 2004 (together the "Order") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act. of the profit of the Company for the year ended on that date. in the manner so required and give a true and fair view in conformity with the Accounting Principles Generally Accepted in India: i) ii) iii) In the case of the Balance Sheet. 5. which to the best of our knowledge and belief were necessary for the purposes of our audit. These financial statements are the responsibility of the Company's management. 2010. 2010 Annual Report 2009-10 37 . the said accounts read together with significant accounting policies and other notes thereon give the information required by the Act. We have audited the attached Balance Sheet of Omaxe Limited. No. Doogar Partner M. as on March 31. on a test basis. evidence supporting the amounts and disclosures in the financial statements. In our opinion. the Balance Sheet. Our responsibility is to express an opinion on these financial statements based on our audit. 2010. 1956 ("the Act"). No. As required by the Companies (Auditor's Report) Order.

work contract tax. cess and other applicable material undisputed statutory dues have generally been deposited regularly during the year with the appropriate authorities except for delays in certain cases and there are no arrears of outstanding statutory dues as at the last day of the financial year concerned. (d) The Company has taken unsecured loan from one subsidiary company and three other companies listed in the register maintained under section 301 of the Act. The maximum amount involved during the year was Rs. project in progress. 58AA or any other relevant provisions of the Act and the Companies (Acceptance of Deposits) Rules. which in our opinion. the repayment thereof is linked to repayment by the Company to the bank. (b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the Company and the nature of its business. the rate of interest and other terms and conditions of the loan given wherever applicable. (c) The Company has not disposed off a substantial part of fixed assets during the year.1800. (iv) In our opinion and according to the information and explanations given to us. (iii) (a) The Company had granted interest bearing unsecured loan to one subsidiary company listed in the register maintained under section 301 of the Act. (b) According to the information and explanations given to us. going concern is not affected. Accordingly. development and other rights in identified land. transactions made in pursuance of contracts or arrangements entered into the register required to be maintained in pursuance of section 301 of the Act and exceeding the value of rupees five lacs in respect of any party during the year have generally been made.67 mio and the year end balance of such loan taken was Rs. (b) The fixed assets have been physically verified by the management at reasonable intervals. there were no material discrepancies noticed on physical verification of inventory as compared to the book records. prejudicial to the interest of the Company. service tax. which in our opinion. and accordingly. (b) According to the information and explanations given to us. (ix) (a) According to the records of the Company. at prices which are reasonable having regard to the prevailing market prices at the relevant time. (vii) The Company has an internal audit system. (viii) As informed to us. 785. (v) (a) In our opinion and according to the information and explanations given to us.00 mio and the year-end balance of loan granted to such company was Rs. employees' state insurance. we have not observed any continuing failure to correct major weakness in internal controls. (e) According to the information and explanation given to us. wealth tax. As explained to us. provident fund. (ii) (a) The inventory includes land. no comments are being offered on timely repayment of principal and interest and on overdue amounts. 555. the maintenance of cost records has not been prescribed by the Central Government under clause (d) of subsection (1) of section 209 of the Act in respect of the activities of the Company.27 mio. (b) In our opinion and according to the information and explanations given to us. for a period of more than six months from the date they became payable. Accordingly. fixed assets and with regards to the sale of goods and services. Physical verification of inventory have been conducted at reasonable intervals by the management. (vi) In our opinion. income tax. no comments are being offered on timely repayment of principal / interest and on overdue amounts. During the course of our audit. 2010 on account of any dispute except the followings: 38 Annual Report 2009-10 . (c) The Company has maintained proper records of inventory. the rate of interest and other terms and conditions of the loan taken are not prima facie. construction material. sales tax. (c) In respect of loan granted to one subsidiary company. 2010) (i) (a) The Company has maintained proper records showing full particulars. is commensurate with the size of the Company and the nature of its business.00 mio. service tax. work contract tax. which is not yet due. the transactions that need to be entered into the register required to be maintained in pursuance of section 301 of the Act have been so entered. employees' state insurance. there are adequate internal control systems commensurate with the size of the Company and the nature of its business with regard to purchase of inventory. prima facie. 1975 with regard to the deposits accepted from the public. including quantitative details and situation of fixed assets. income tax. sales tax. is considered reasonable having regard to the size of the Company and the nature of its assets. are not. No material discrepancies were noticed on such verification. there are no dues of provident fund. other than the transactions for which comparable prices are not available.1800. prejudicial to the interest of the Company. The maximum amount involved during the year was Rs. completed real estate projects. (f) The principal amount of loan taken along with interest is repayable on call. the Company has complied with the provisions of sections 58A. wealth tax.Annexure to Auditors' Report (Referred to in paragraph 3 of our report of even date to the members of Omaxe Limited on the accounts for the year ended March 31. The Company has not received any call in respect thereof. cess and other applicable material statutory dues which have not been deposited as on March 31.

10 The Company does not have any accumulated losses as at March 31. the terms and conditions whereof in our opinion are not prima-facie prejudicial to the interest of the Company. in our opinion and according to the information and explanations given to us. No. the company has not defaulted in repayment of dues to Bank.82 0. (xi) In our opinion and according to the information and explanations given to us. the Company is not a dealer or trader in securities. 2003 March 31st.20 15. there are no funds raised on a short-term basis. According to the information and explanations given to us. 2003 Delhi VAT ACT. (xvii) On the basis of an overall examination of the balance sheet of the Company. 1968 Show Cause Notice Received Show Cause Notice Received Nature of Dues Sales Tax Sales Tax Sales Tax Sales Tax Sales Tax Sales Tax Sales Tax Sales Tax Sales Tax Service Tax Service Tax Financial Year to which the matter pertains March 31st. 2003 Haryana Value Added Tax Act. 2003 Haryana Value Added Tax Act.00 14. 2010 and has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year. 2006 March 31st. . (xv) According to the information and explanations given to us. debentures and other securities. 2005 March 31st.73 1.93 0. 80077 Place: New Delhi Date: 27th May. Financial Institution and debenture holders as at the balance sheet date. (xx) The Company has not raised money by way of public issue during the year. in mio) 1. Delhi Joint/ Deputy Commissioner of Trade & Taxes. which have been used for long-term investment. 2009 2009-10 2005-06 2006-07 March 31st 2002 to March 31st 2004 2004-05 to 2007-08 2002-03 to 2007-08 Forum where dispute is pending Deputy Excise & Taxation Commissioner. 2005 Himachal Pradesh General Sales Tax Act. (xviii) The Company has not made preferential allotment of shares to the parties covered in register maintained under section 301 of the Act.06 43. No. security or charge has been created in respect of the secured debentures. (xii) In our opinion and according to the information and explanations given to us. 2005 Delhi VAT ACT. (xiv) In our opinion and according to the information and explanations given to us. (xxi) During the course of the audit carried out and according to the information and explanations given to us. For Doogar & Associates (Regn. The Company has invested some funds in mutual funds and other securities. Delhi Deputy Excise and Taxation Commissioner (Appeals) Mandi Show Cause Notice issued by Commissioner Service Tax A.12 1. proper records have been maintained of the transactions and contracts and timely entries have been made there in. (xvi) According to the information and explanations given to us and records examined by us. no loans and advances have been granted by the Company on the basis of security by way of pledge of shares. Doogar Partner M. noticed or reported during the year nor have we been informed of such case by the management. the term loans have generally been applied for the purpose for which they were raised. the Company has given guarantees on behalf of subsidiaries and others.09 6. 2003 Haryana Value Added Tax Act.50 1.Name of Statutes Punjab General Sales Tax Act. Chandigarh Joint Excise & Taxation Commissioner (A) Faridabad Joint Excise & Taxation Commissioner (A) Faridabad Joint Excise & Taxation Commissioner (A) Faridabad Joint Excise & Taxation Commissioner (A) Faridabad Joint Excise & Taxation Commissioner (A) Faridabad Joint/ Deputy Commissioner of Trade & Taxes.55 0. 2004 March 31st. 2010 (x) Annual Report 2009-10 39 . we have neither come across any instance of fraud on or by the Company.K.000561N) Chartered Accountants Sd/M. 2003 Haryana Value Added Tax Act.E Delhi Show Cause Notice issued by Commissioner Service Tax A. The investments have been held by the Company in its own name. (xiii) The Company is not a chit fund or nidhi / mutual benefit fund / society. (xix) According to the information and explanations given to us and the records examined by us.E Delhi Amount outstanding (Rs. 1948 Haryana Value Added Tax Act.

50 119.67 12.27 764.75 1.80077 For and on behalf of board of directors Sd/Rohtas Goel DIN: 00003735 Chairman and Managing Director Sd/Vimal Gupta Additional Vice President (Finance & Accounts) Sd/Jai Bhagwan Goel DIN: 00075886 Director Sd/Venkat Rao Company Secretary Place: New Delhi Date: 27th May.70 263.04 468.26 672.32 34.11 29.810.795.30 29.93 51.92 8.15 29.10 122.735.70 8.735.59 26.25 2.52 29.30 26.933.82 12. 2010 40 Annual Report 2009-10 .12 212. No.89 14.114.630.28 6.340. 2010 (Rupees in mio) Schedule 1 2 31-Mar-10 1.421. Doogar Partner M No.252.674.25 16. loans and advances Inventories Projects in progress Sundry debtors Cash and bank balances Loans and advances Current liabilities and provisions Current liabilities Provisions Net current assets TOTAL Significant Accounting Policies and Notes to Accounts 13 14 22 The schedules referred to above form an integral part of the balance sheet As per our audit report of even date attached For and on behalf of Doogar & Associates (Regn.43 1.23 255.89 2.88 655.32 2.49 15.18 244.06 2.604.94 1.52 2.600.492.32 17.Balance Sheet SOURCE OF FUNDS Shareholder's funds Share capital Reserves and surplus Loan funds Secured loans Unsecured loans TOTAL APPLICATION OF FUNDS Fixed assets Gross block Less: depreciation Net block Capital work in progress Investments as at March 31.217.66 8.27 15.306.013.913.651.02 55.67 11.653.44 10.22 13.988.576.60 6. 000561N) Chartered Accountants Sd/M.318.04 31-Mar-09 1.953.868.401.K.09 20.01 3 4 5 507.01 6 7 8 9 10 11 12 Deferred tax asset (net) Current assets.83 33.974.294.055.294.790.200.421.

No.03 5.853.949.03 4.764.35 4.42 328.709.Profit and Loss Account INCOME Operating income Other income EXPENDITURE Operating cost Employee cost Administration cost Selling cost Finance cost Depreciation Profit before tax Provision for tax .74) 354.253.66 123. 2010 Annual Report 2009-10 41 .345.78 83.99 4.20 7.345.074.14 (41.07 2.Deferred tax charge/(credit) .28 3.11 15.71 42.153.81) (2.015.78 48.46 5.21 7.58 332.709.Fringe benefit .80 8.80077 For and on behalf of board of directors Sd/Rohtas Goel DIN: 00003735 Chairman and Managing Director Sd/Vimal Gupta Additional Vice President (Finance & Accounts Sd/Jai Bhagwan Goel DIN: 00075886 Director Sd/Venkat Rao Company Secretary Place: New Delhi Date: 27th May.52 (30.74 17 18 19 20 21 5 The schedules referred to above form an integral part of the profit and loss account As per our audit report of even date attached For and on behalf of Doogar & Associates (Regn.MAT Credit Profit after tax Balance brought forward from previous year Profit available for appropriation Appropriations Dividend tax Transfer to Debenture Redemption Reserve Transfer to General Reserve Balance carried to balance sheet Basic and diluted earning per share (in Rupees) Significant Accounting Policies and Notes to Accounts for the year ended March 31.92 137.80) 907.Tax adjustments for earlier years .73 197.26 1.16 208.57) (132.87) (10.26 6.79 579.26) 4.03 – – 100.Current .31 4.28 812. 2010 (Rupees in mio) Schedule 15 16 31-Mar-10 7.15 127.92) – (44.23 22 31-Mar-09 6.35 (73.72 3.50 (222.576.31 3.09 1.02 118. Doogar Partner M No.298. 000561N) Chartered Accountants Sd/M.253.997.36) 823.886.00 4.00 3.54 774.K.16 41.073.718.

03 12.567.46 354.41 606.Working capital loans .00 3.430.65 250.67 5. 469.613.735.000.00 3.625.67 1.000 (210.735.089.208. 878.345.67 1.821.67 1.31 11.400.78 606.421.11 7.735.Non convertible debentures .00 100.00 – 2.000.93 1.16 2.35 817.77 mio and balance in profit and loss account Rs.43 42 Annual Report 2009-10 .153.00 2.40 2.Schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 1: Share capital Authorised 350.22 5.000) Equity Shares of Rs.56 24.084.Term loans Interest accured and due .703.00 21. General Reserve of Rs 70.67 1.567.10 each fully paid Of the above (i) 141.Non convertible debentures – 6.41 1.089.00 2.65 1.38 mio (ii) 18.520 Equity shares of Rs.43 1.000 Equity shares issued upon exercise of Green shoe option) Schedule 2: Reserves and surplus Securities premium account Debenture redemption reserve Balance at the beginning of the year Less: Withdrawn on redemption and transferred to general reserve Add: Transfer from profit and loss account Balance at the end of the year General reserve Balance at the beginning of the year Add: Transferred from debenture redemption reserve Add: Transfer from profit and loss account Balance at the end of the year Foreign currency translation reserve (refer note no.084.735.000.00 5.378.82 Schedule 3: Secured loans Banks .582.000) Equity Shares of Rs.67 1. 4 of schedule 22) Profit and loss account 31-Mar-09 3.000.81 231.10 each Subscribed and paid up 173.416.500.735.271.43 4.67 1.46 83.000 (173.10 each 10.75 3. 10 each had been issued in earlier years as fully paid up bonus shares by capitalisation of Securities Premium account of Rs. 10 each were allotted as fully paid up to public during the earlier years (including 817.069.735.Vehicle loans Financial institutions .000 (173.500 Equity shares of Rs.38 – 375.600.00 1.567.54 231.Term loans Interest accured and due .000 (Nil) Preference Shares of Rs.567.100.035.055.19 3.000.79 8.07 mio.735.71 47.38 100.67 2.000) Equity Shares of Rs.217.81 91.00 1.10 each Issued 173.36 76.100.00 4.54 1.735.67 7.22 817.184.46 1.00 63.19 21.

75 255.55 507.Deferred payment credits Interest accured and due 31-Mar09 664.05 0.75 – 0.35 March 31.00 7. Gross block of building includes Rs.34 253.12 435.00 259.13 4.60 66.09 12.06 158.00 – 1.50 468.16 364.66 55.89 253.Short term intercorporate loan Interest accured and due .88 2.47 mio (15.64 7.75 2.Fixed deposits from public .00 – 1.28 13.50 As at March.44 15.Loan from subsidiary company . 31 2010 21.46 500.Cost of construction account .23 Net Block As at March 31.82 122.70 468.81 158. 2010 76.18 212.05 4.001.30 30.06 137.49 48.40 – – 1.27 55. 2009 17.26 60.38 1.81 31.91 28.75 2.70 Notes : March 31.52 255. 2009 12.62 5.19 As at March 31.55 0.776.96 41.99 3.50 739.47 mio) which is constructed on Land belonging to a third party under ‘Build .13 263.05 41.75 2.11 103.Profit & Loss Account 11.42 244.19 115.12 30.00 – 845.91 19.33 88.32 22.04 14.75 4.75 212.00 47.00 35.21 6.72 59. 2009 76. 2009 58.55 5.63 – 100.14 2.39 0.52 9.60 502. Annual Report 2009-10 43 .) Others .62 50.89 As at March 31. 2010 1.50 5.27 655.00 – – 555.61 72.23 181.02 34..61 Additions Deletions/ Adjustments – 0.Intercorporate Loan from promoter companies (repayable on demand) (refer note 17 of schedule 22) Schedule 5 : Fixed Assets (Rupees in mio) Gross Block (At cost) Name of assets As at April 1.39 209.90 1.14 41.07 3.480.77 56.97 1.21 52.27 (refer note 16 of schedule 22) Schedule 4: Unsecured loans .19 50.73 4.73 462.55 36.974.576.50 364.67 66.94 40.35 60.01 1. 15. 2010 54.20 85.98 Depreciation For the Deletions/ year Adjustments 4.66 27.05 – 1.Non Banking Financial Company Interest accured and due .00 5.09 2.40 30.88 159.12 As at April 1.97 80.40 81.42 1.73 70.10 1. Depreciation has been charged to .Own .Schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 3: Secured loans (Contd.25 Office buildings Plant and machinery Furniture and fixtures Vehicles Computer and printers Total (A) Intangible Assets Software Total (B) Total (A+B) Previous year – 21.98 8..Housing Finance Company Interest accured and due .00 764.050.15 5.07 14.Non convertible debentures Interest accured and due .Transfer’ agreement.60 243.000.48 2.38 52.88 0.02 – – 2.

262.00.47 0.50 0.000) Equity shares of Golden Glades Builders Private Limited of Rs.000 (50.629.000) Equity shares of Monarch Villas Private Limited of Rs.000 (50.000) Equity shares of Omaxe Chandigarh Extension Developers Private Limited of Rs 10 each 50.50 0.21 1.04 0.50 0.000) Equity shares of Satvik Hitech Builders Private Limited of Rs.000) Equity shares of Omaxe Power Private Limited of Rs.50 0.000 (Nil) Equity shares of Vimvin Realtors Private Limited of Rs 10 each 50.000) Equity shares of Reliable Manpower Solutions Limited of Rs 10 each 2.000) Equity shares of JKB Constructions Private Limited of Rs.47 10.10 each 4.50 323.000 (50.000) Equity shares of Omaxe Infrastructure and Construction Limited of Rs.000) Equity shares of Eden Buildcon Private Limited of Rs.50 5.000.13 0.000) Equity shares of Jewel Projects Private Limited of Rs.10 each 2.000 (1.50 121.50 0. 10 each 50.000 (50.00.000 (47. 10 each 50.400 (49.000 (140.50 0. 10 each 47.000) Equity shares of Oasis Township Private Limited of Rs 10 each 25.Schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 6: Investments Long term.165) Equity shares of Omaxe Housing & Developers Limited of Rs.49 0. 10 each 50.26 0. 10 each 10.26 0.47 10.000) Equity shares of Anjaniputra Builders Private Limited of Rs.000) Equity shares of Green Planet Colonisers Private Limited of Rs.000 (25.000 (50.50 0.000.500) Equity shares of Omaxe Infrastructure Development Private Limited of Rs 10 each 23.50 0.47 0.23 0.50 0.00 0.50 0.000 (10.262.000 (47.21 1. 10 each 47.50 0.000 (50.000) Equity shares of S.10 each 49. 10 each In Associate companies 4.000.000 (50.50.04 0.55 77. at cost In Subsidiary companies 47.47 0.165 (2.50 0.500 (25.47 10.00 50.50 0.000) Equity shares of Arman Builders Private Limited of Rs. 10 each 47.000 (47.10 each 50.47 0. unquoted.000 (50.000 (50.000.00 0.000) Equity shares of Ansh Builders Private Limited of Rs 10 each 12.18 0.26 0.000 (47.50 121. 10 each 50.50 0.50 0.10 each 50.000) Equity shares of Omaxe Buildwell Private Limited of Rs.500) Equity shares of Rivaj Infratech Private Limited of Rs 10 each 25.000 (50.000.500) Equity shares of Garv Buildtech Private Limited of Rs 10 each 25.47 0.000) Equity shares of Omaxe Infotechcity Developers Limited of Rs.000 (50.000) Equity shares of Hamara Ghar Constructions & Developers Private Limited of Rs.000 (50.47 10. 10 each 140.500 (25.59 0.000) Equity shares of Omaxe Entertainment Limited of Rs.55 77.24 0.00 323.50 0.26 0.687 (4.50 0.000. 10 each 47.50 10.50 0.40 0.50 0.10 each 50.500 ( 23.000 (Nil) Equity shares of Omaxe Housing & Infrastructure Limited of Rs 10 each In Joint Venture company 10.50 0.000) Equity shares of Champion Realtors Private Limited of Rs.000) Equity shares of Ekansh Buildtech Private Limited of Rs 10 each 50. Realtors Private Limited of Rs.000 (12.500 (24.400) Equity shares of Omtech Infrastructure & Construction Limited of Rs. 10 each 50.000.10 each 24.50 5.000 (2.00 150.10 0.000) Equity shares of Omaxe Azorim Developers Private Limited of Rs. 10 each 50.47 0.500 (25.000.10 0.50 0.000 (500.900) Equity shares of Navratan Tech Build Private Limited of Rs.000 (47.00.48 250.900 (49.000) Equity shares of Omaxe Housing Finance Limited of Rs 10 each 50.48 250. 10 each 50.000) Equity shares of kavya Buildtech Private Limited of Rs 10 each 10.00 20.50 0.24 0.000) Equity shares of Omaxe Connaught Place Mall Limited of Rs.50 0.00 0.23 31-Mar-09 44 Annual Report 2009-10 .000) Equity shares of Omaxe Buildhome Private Limited of Rs.000 (50.000) Equity shares of Link Infrastructure & Developers Private Limited of Rs.50 0.00 0. 10 each 50.500 ) Equity shares of Omaxe Realtors Private Limited of Rs 10 each 0.400.13 0.00 0. 10 each 50.10 each 1.000 (50.50 0.000) Equity shares of Omaxe Infrabuild Limited of Rs.000) Equity shares of Omaxe Infrastructure Limited of Rs.59 0.00 150.000 (50. 10 each 500.10 each 49.687) Equity shares of Sunshine Buildtech Private Limited of Rs.50.50 103.000 (4.000) Equity shares of Omaxe Rajasthan SEZ Developers Limited of Rs.00 0. 10 each 47. 10 each 50.26 – – 10.40 0. trade.10 each 25.00 0.50 0.47 0.50 0.18 0.000 (50.100. N.000) Equity shares of JRS Projects Private Limited of Rs.000 (10.000 (50.00 20.000) Equity shares of Finishing Touch Properties & Developers Private Limited of Rs.50 0.50 0.50 0.500) Equity shares of Pancham Realcon Private Limited of Rs 10 each 10.000 (10.000) Equity shares of Primordial Buildcon Private Limited of Rs.629.100.10 each 50.000 (47.000 (50.10 0.000) Equity shares of Landlord Developers Private Limited of Rs.400.26 0. 10 each 500 (500) Equity shares of Rohtas Holdings (Gulf) Limited of AED 100 each 50. 10 each 50.49 0.47 0.000 (50.000) Equity shares of Zodiac Housing & Infrastructure Private Limited of Rs. 10 each 50.000 (50.50 103.

76 104.50 – 2.123.24 10.62 32.33 304.361.25 166.50 2.25 4.354.Schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 6: Investments (Contd.77 46.70 1.506.73 10.10 2.282.32 Schedule 8: Inventories (as taken. advances and deposits Deferred tax liability Losses on account of ongoing 80IB projects 1.32 Schedule 9: Projects in progress On which revenue is not recognised Cost of the projects Less: Advances received On which revenue is recognised Cost of the projects Estimated profit recognised Less: Advances received 15.868.69 11.43 12.437.052.46 22.992.357.34 8.93 6.600.55 7.04 2.959 (Nil) units of Principal Mutual Fund of Rs.50 1..) Others 1496500 (1496500) Equity shares of Delhi Stock Exchange Limited of Rs 10 each Current.80 17.40 11.349.131. at lower of cost or market value.013.77 119..600. valued and certified by the management) Building material and consumables Land * Construction work in progress Completed real estate projects *(refer note 12 of schedule 22) 505.76 31-Mar-09 0.78 2.45 2.26 Annual Report 2009-10 45 .63 7.09 654.795.94 15.65 12.62 1.87 126.50 2.75 20.09 46.720.99 35.50 – – Schedule 7: Deferred tax Asset / (liability) (Net) Deferred tax asset Expense allowed on payment basis Share issue expenses adjusted from securities premium account Difference between book and tax base of fixed assets Retirement benefits Provision for doubtful debts.149.94 13.35 25.36 14. 10 each Note: All the above shares/units are fully paid up Aggregate cost of unquoted investments Aggregate cost of current investments Market value of current investments 104.50 0.68 24.37 301.650.79 122.25 – – 122.60 2.651.68 28.03 84.388.810.881. quoted In Mutual funds 24.991.42 9.358.60 0.849.238.

16 1.985.12 178.39 86.81 4.12 20.07 1.26 3.75 Schedule 11: Cash and bank balances Cash on hand (including stamps in hand Rs. Authority for allotment of land * includes Rs.74 23.43 23.92 1.20 mio) given by subsidiary companies to State Govt.961.0.70 48.56 73.566.851.50 mio) * refer note 13 (ii) to schedule 22 $ refer note 14 to schedule 22 46 Annual Report 2009-10 43.114.1800 mio) given as interest bearing loan to M/s Omaxe Buildhome Private Limited for back to back loan received by the company from banks * includes share application money given to wholly owned subsidiary company Omaxe Infrastructure and Construction Limited Rs.considered doubtful Less: Provision for doubtful deposits MAT credit entitlement Advance Tax (net of provision) * includes Rs.1841.83 .28 25. Nil (Rs.36 1.considered good .84 22. 482.604.39 4.22 873.07 mio) Schedule 12: Loans and advances (Unsecured.61 672.12.02 5. Nil (Rs.45 4.94 26.69 2.85 23. financial institutions and government authorities # Includes interest accured and due Rs.961.69 2.78 1.37 mio)) Cheques/DD in hand Balances with scheduled banks .95 4.00 mio (Rs.88 275.70 26.75 3.49 971.76 mio (Rs.considered doubtful Less: Provision for doubtful advances Deposits: .015.14 22.85 52.81 4.581.36 179. 785.considered good (includes Rs.143.43 1.492.considered good .considered doubtful Less: Provision for doubtful debts Other debts .897.13 mio (Rs. considered good.16 28.02 138.80 mio) which have been pledged with banks.44 474.In deposit account * # * Includes fixed deposit aggregating to Rs.01 28.07 41. unless otherwise stated) Advances and loans to subsidiary companies * $ Advances recoverable in cash or in kind or for value to be received $ .14 646.06 136.586.73 2.36 178.In current account . 69.74 136. 750.566. 48.06 140.44 5.674.32 10.In Initial public offer separate refund account . 1800 mio (Rs.considered good .93 20.913.88 434.12 mio (Rs.Schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 10: Sundry debtors (Unsecured considered good unless otherwise stated) Debts outstanding for a period exceeding six months .81 8.54 40.33 mio) due from subsidiary companies) (refer note 13(i) of schedule 22) 31-Mar-09 23.

Unclaimed share application money .85 19. 511.93 6. 1.38 3.76 mio) which are secured by bank guarantees # includes Rs.Others (includes due to Government Authorities on account of development charges Rs.06 mio (Rs.71 3.Unclaimed dividend .22 1.67 mio)) (includes due to Omaxe Infrastructure and Construction Limited (wholly owned subsidiary company) Rs.06 mio (Rs.02 Schedule 14: Provisions Fringe benefit tax (net of tax payments) Provision for loss of subsidiary company Leave encashment Gratuity – 9.119.49 1.Dues to Micro. 457.15 – 8. 2872.1.93 mio) secured by Fixed Deposits * includes Rs.933.44 50.122.86 56.92 mio) due to joint venture company 31-Mar-09 – 4.79 – 2.00 24.43 131.Unpaid matured deposits $ Book Overdraft Rs Nil (Rs 250.46 3.858.00 15.82 mio) due to subsidiary companies @ includes Rs.29 55.200.61 mio (Rs.304.170.429.23 18.28 Annual Report 2009-10 47 .66 15.29 3. 364.96 mio (Rs.66 44.Schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 13: Current liabilities Sundry creditors .43 51.09 10. Nil)) Book overdraft $ Advances and deposits received *#@ Other liabilities Due to directors Interest accrued but not due on loans Investors Education and Protection Fund: [Appropriate amounts shall be transferred to Investor Education & Protection Fund.88 mio (Rs.1969.14 5. Nil) maximum balance outstanding Rs. 364. Small and Medium Enterprises (refer note 18 of schedule 22) .31 18.57 512. 156. if and when due] .84 526.292.28 mio (Rs.27 61.

23 2.61 5.849.66 31-Mar-09 6.57 1.81 12.79 Schedule 16: Other income Interest income .33 304.349.34 8.16 2.031.997.24 228.14 42.20 Schedule 17: Operating cost Inventory at the beginning of the year Building materials and consumables Land * Construction work in progress Completed real estate projects Projects in progress at the beginning of the year $ Add: Incurred during the year Land.156.85 268.60 2. 6.96 mio (Rs.738.052.37 1.25 110.62 8.48 579.03 4.71 2.67 98.49 43.81 99.13 1.80 80.50 1.16 0.58 48 Annual Report 2009-10 .56 2.55 123.62 7.54 15.33 304.04 2.891.95 3.810.849.991.88 12.97 97.65 1.568.32 12.853.others [Tax deducted at source Rs.50 1.160.85 505.45 2.810.231.70 mio)] .822.02 2.975.91 13.70 15.84 92.33 195.35 (2.02 4.78 2.61 437.718.62 17.50 7.76 0.on bank deposits [Tax deducted at source Rs.09 11.16 443.317.93 0.17 27.06) 1. 0.868.37 75.76 2.39 – – – 0.782.53 39.09 15.834.082.123.22 2.18.949.04 2.10 5.26 7.98 39.549.32 12.345.19 mio (Rs. development and other rights Building materials Construction cost Employee cost Rates and taxes Administration cost Depreciation Power and fuel Repairs and maintenance-plant and machinery Selling cost Finance cost Less: Inventory at the close of the year Building materials and consumables Land * Construction work in progress Completed real estate projects Projects in progress at the close of the year $ * Refer note 12 to schedule 22 $ On which revenue is not recognised 654.232.349.750.39 mio)] Dividend on current investments Dividend from subsidiary company Profit on sale of investments in subsidiary company Liabilities no longer required written back Profit on sale of fixed assets Miscellaneous income 56.160.016.61 6.71 5.45 2.70 15.Schedules to the profit and loss account (Rupees in mio) 31-Mar-10 Schedule 15: Operating income Income from real estate projects Income from trading goods Income from construction contracts 6.0.36 95.25 654.37 301.

others Royalty Water & Electricity charges Vehicle running and maintenance Travelling and conveyance Legal and professional charges Printing and stationery Telephone.52 77.99 10.64 5.11 92.11 764.16 1.71 313.63 45.85 47.14 98.65 8.32 19.340.31 999.015.65 23.01 1.72 1.32 114. allowances and bonus (including managerial remuneration) Contribution to provident and other funds Staff welfare expenses Less: Allocated to projects 279.78 1.72 4.06 24.99 95.26 208. wages.56 28.64 97.00 11.11 14.97 5.63 395.88 328.37 6.Others Bank charges Less: Allocated to projects 1.62 3.78 Annual Report 2009-10 49 .building Repairs and maintenance.99 439.753.42 47.60 7.074.40 3.738.35 3.65 1.64 – 11.85 27.97 579.01 2.27 5.04 147.84 5.47 8.66 16.568.65 118.91 195.13 127. postage and courier Donation Auditors’ remuneration Bad Debts Provision for doubtful debts.80 303.73 43.00 5.Fixed deposits Debentures .00 – 11.02 48.03 1.00 11.98 16.15 100.66 9.71 8.09 197.Schedules to the profit and loss account (Rupees in mio) 31-Mar-10 Schedule 18: Employee cost Salaries.49 26.43 84.87 4.43 121.Term loans .16 148.63 33. deposits and advances Provision for loss in subsidiary company Share of loss under collaboration Miscellaneous expenses Less: Allocated to projects Schedule 20: Selling cost Business promotion Rebate & discount to customers Commission Advertisement and publicity Less: Allocated to projects Schedule 21: Finance cost Interest on .181.88 2.03 110.81 1.642.93 289.22 332.22 268.35 334.09 Schedule 19: Administration cost Rent Rates and taxes Insurance Repairs and maintenance.26 31-Mar-09 395.27 5.62 1.46 6.92 30.45 129.24 429.48 6.

e. other than of a temporary nature. Any revision to accounting estimates is recognized prospectively in current and future periods.Schedule 22: Significant Accounting Policies and Notes to Accounts Significant Accounting Policies a. h. Cost of building constructed on land owned by third party under 'Build Own Transfer' agreement is amortized over the period of the agreement. c. if any. f. the carrying amount is reduced to its recoverable amount. Basis of preparation of financial statements The financial statements are prepared under historical cost convention on the accrual basis of accounting in accordance with the Companies Act. 50 Annual Report 2009-10 . If any such indication exists. 1956 ("the Act") and the Accounting Principles Generally Accepted in India ('Indian GAAP') and to comply with the Accounting Standards prescribed in Companies (Accounting Standard) Rules 2006 issued by the Central Government in exercise of power conferred under Section 642(1) (a) and relevant provisions of the Act. Current investments are stated at lower of cost or market value. Fixed assets Fixed assets are stated at historical cost less accumulated depreciation. Use of estimates The preparation of financial statements in conformity with the Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities on the date of the financial statements. The reduction is treated as an impairment loss and is recognized in the profit and loss account. All other borrowing costs are treated as period cost and charged to the profit and loss account in the year in which incurred. Actual results could differ from those estimates. Borrowing costs Borrowing cost that are directly attributable to the acquisition or construction of a qualifying asset (including real estate projects) are considered as part of the cost of the asset/project. Cost includes purchase price and all other attributable cost to bring the assets to its working condition for the intended use. Investments Long-term investments are stated at cost. Provision for diminution. d. g. If such recoverable amount of the asset or the recoverable amount of the cash-generating unit to which the asset belongs is less than its carrying amount. which is treated as part of plant and machinery where the estimated useful life based on technical evaluation has been determined as five years. the Company estimates the recoverable amount of the asset. Intangible assets Intangible assets comprising of ERP & other computer software's are stated at cost of acquisition less accumulated amortization and are amortised over a period of four years on straight line method. 1956 except in the case of steel shuttering and scaffolding material. Depreciation Depreciation on fixed assets is provided on written down value method in the manner and rates prescribed in Schedule XIV to the Companies Act. b. Impairment of assets The Company assesses at each balance sheet date whether there is any indication that an asset may be impaired. in the value of each long-term investment is made to recognize a decline.

ii. cost to completion and the foreseeable loss are reviewed periodically by the management and any effect of changes in estimates is recognized in the period such changes are determined. Income from construction contracts is recognized by reference to the stage of completion of the contract activity as certified by the client. Foreign currency transactions are recorded at exchange rates prevailing on the date of respective transactions. iii. Income from construction contracts Revenue from construction contracts is recognized on the 'Percentage of Completion method' of accounting. Foreign currency transactions i. Projects in progress Projects in progress are valued at cost. projected profits. k. Revenues under the POC method is recognized on the basis of percentage of actual costs incurred. construction and development cost bears to the total estimated cost of the project. iii. Land is valued at cost. l. Completed real estate project for sale and trading stock are valued at lower of cost or net realizable value. Cost includes cost of materials. v. iv. Revenue recognition i. j. services. services and other related overheads. which is determined on average method. services and other related overheads related to project under construction. Building material and consumable stores are valued at cost. The estimates of the projected revenues. Cost includes cost of material. materials. Cost includes cost of land. Interest due on delayed payments by customers is accounted on receipts basis due to uncertainty of recovery of the same. ii. Current assets and current liabilities in foreign currencies existing at balance sheet date are translated at year-end rates.i. projected costs. to such actual cost being 30 percent or more of the total estimated cost of projects. The stage of completion under the POC method is measured on the basis of percentage that actual costs incurred on real estate projects including land. construction and development cost of projects under execution subject. Dividend income is recognized when the right to receive the payment is established. construction. Construction work in progress is valued at cost. Revenue on account of contract variations. claims and incentives are recognized upon determination or settlement of the contract. ii. Inventories i. including land. Income from trading sales Revenue from trading activities is accounted for on accrual basis. iv. Real estate projects Revenue from real estate projects is recognized on the 'Percentage of Completion method' (POC) of accounting. which is determined on the basis of the 'First in First out' method. Cost includes cost of acquisition and all related costs. Annual Report 2009-10 51 . borrowing costs and other overheads relating to projects.

it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Contributions payable by the Company to the concerned government authorities in respect of provident fund. q. contingent liabilities and contingent assets A provision is recognized when: • • • the Company has a present obligation as a result of a past event. All other foreign currency gains and losses are recognized in the profit and loss account. using the tax rates and the tax laws enacted or substantially enacted as on the balance sheet date. The Company is having Group Gratuity Scheme with Life Insurance Corporation of India. Where there is a possible obligation or a present obligation that the likelihood of outflow of resources is remote. iii. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may. Accounting for taxes on income i. family pension fund and employee state insurance are charged to the profit and loss account. and a reliable estimate can be made of the amount of the obligation. m. n. Share issue expenses Share issue expenses are adjusted against the securities premium account. Employee stock compensation cost In respect of stock options granted by the Company. require an outflow of resources. o. Deferred tax on timing differences between taxable and accounting income is accounted for. p. Deferred tax assets are recognized only to the extent that there is a virtual certainty of their realization. ii. Deferred tax assets are recognized only when there is a reasonable certainty of their realization. Wherever there are unabsorbed depreciation or carry forward losses under Tax laws. Retirement benefits i. Provision for gratuity is made based on actuarial valuation in accordance with Revised AS-15 of The Institute of Chartered Accountants of India. Provisions. the intrinsic value of the options (excess of market price of the shares over the exercise price of the option) is treated as employee compensation cost and is amortised over the vesting period. no provision or disclosure is made.iii. but probably will not. Lease rent under operating lease are charged to profit and loss account on a straight line basis over the lease term. Operating lease Lease arrangements where the risk and rewards incident to ownership of an assets substantially vest with the lessor are recognized as operating lease. in substance. form part of company's net investment is a nonintegral foreign operation and is accumulated in a Foreign Currency Translation Reserve in the financial statement until the disposal of net investment at which time it is recognized as income or expenses. ii. Provision for current tax is made based on the tax payable under the Income Tax Act. Foreign Exchange difference arising as a monetary item that. r. 52 Annual Report 2009-10 . Foreign currency translation differences related to acquisition of imported fixed assets are adjusted in the carrying amount of the related fixed assets. iv. Provision for leave encashment in respect of unavailed leave standing to the credit of employees is made on actuarial basis in accordance with revised AS-15 of The Institute of Chartered Accountants of India. 1961.

22 mio (3. . The Company has applied to the Authority for deferment in payment schedule under notification dated 06. revenues expected from projects. exchange difference being the difference between exchange rate as on date on which such loan was granted and the exchange rate on Balance Sheet date as at 31. 4. 2010 Claims against the Company not acknowledged as debts Bank guarantees .06 2. These estimates being of a technical nature have been relied upon by the auditors.10 8.In respect of the Company .Service tax . due and outstanding. the wholly owned subsidiary company (RHGL).In respect of subsidiaries . The management of the Company is quite hopeful of revival in Gulf markets and shall initiate further suitable action in the matter.36 29.45 29.60 68. in which company is having substantial influence/ control for carrying out real estate projects outside India. 13. 3.Notes to Accounts 1. no impact on account of concession/waivers under the said notification has been given in the accounts. Such amount aggregating to Rs. and Golden Crescent Red & General Trading Ltd. 5.60 100. a sum of Rs.2009 of the Authority.93 182. specific performance of certain land agreements. 81. Pending approval.57 953. Disputed differential Interest Liability. The said amount has also been shown as "Unclaimed share application money" in Schedule No. This does not include any amount. to be credited to the Investor Education and Protection Fund as per the provisions of the Companies Act. Annual Report 2009-10 53 3.61 153.Sales tax . 91.10.In respect of others Corporate guarantees in respect of wholly owned subsidiary companies Disputed tax amounts . etc. The Company is developing a real estate project in the name of 'NRI City' on land allotted by Greater Noida Industrial Development Authority ("The Authority") on deferred payment liability basis. Further.75 mio) has been considered and accumulated as "Foreign Currency Translation Reserve".44 2. cost to completion. projected profits and losses. 2010. has in turn given such loan amount to two companies (SPV's) incorporated outside India namely Marine Sands Ltd. 21.43 mio (Rs.561. The Company had granted an interest free loan of Rs. Contingent liabilities not provided for in respect of: (Rupees in mio) Year ended March 31.89 755. 3. The Management of the company / wholly owned subsidiary company/SPV has applied to concerned authority/agency for in principle approval for transfer of controlling interest in such SPV in its favour.01.161.64 Amount unascertainable 15.22 mio (3.2010 amounting to Rs. and disputed by the Company 2.20 Not quantifiable Year ended March 31.2009 as amended by notification dated 25. Certain civil cases preferred against the Company in respect of labour laws.28 995. under the memorandum of understanding.03 613.03. further installments to such concerned authority/agency which has been demanded are yet to be paid. accordingly. The transfer of holding in these two SPV's has still to be acquired/ effected by the Company / wholly owned subsidiary company with the approval of concerned authority/agency which is awaited. Pending approval as aforesaid and looking to general global recession in real estate sector particularly in Gulf Region.96 Not quantifiable As on 31st March.49 mio) is outstanding to be refunded to the applicants who were not/ partly allotted the shares in initial public offer.98 mio to one of its wholly owned Subsidiary Company incorporated outside India namely Rohtas Holdings (Gulf) Limited (RHGL) which has been considered as net investment in foreign operations.10 Nil Amount unascertainable 7. 2009 55. 527.Income tax Writ Petition filed by Income Tax Department against order of settlement commission before Delhi High Court.49 mio) is lying in the separate bank account of the company. Determination of revenues under 'Percentage of Completion method' necessarily involves making estimates by management for percentage of completion.. 1956.

out of which invoice worth Rs. The ultimate outcome of such reconciliation and confirmation cannot presently be determined.629. projection of revenues. 6. and advances given and received are taken as shown by the books of accounts. treatment was effected in books of account for the year ended 31st March. 88. no provision for any liability that may result out of such reconciliation and confirmation has been made in the financial statement. The Company has not yet raised debit note on such Joint Venture Company accordingly.2008 had accepted the aforesaid income so offered amounting to Rs. marketing costs incurred by the Company are to be reimbursed by such Joint venture Company. The Income Tax Assessment of the Company has been completed up to Financial Year 2006-07 (Assessment Year 2007-08). 12.2010. if any. 88.03. During the year 2005-06 the Company was subjected to search under section 132 of Income Tax Act. the total marketing cost incurred by the Company under such marketing service agreement amounts to Rs. sundry creditors. the projections of revenues.42 mio) and projects in progress include cost of land of Rs. Subsequently. Accordingly.04 mio.646.00 mio towards land and development cost of various projects. The Income Tax Settlement Commission vide its order dated 27. 1961 ("The Act"). This has resulted in showing Project-in-Progress and current liabilities higher by Rs. 9. advances received are subject to reconciliation and confirmation from respective parties. loans and advances have a value on realization which in the ordinary course of the business would not be less than the amount at which they are stated in the balance sheet and the provisions for all known and determined liabilities are adequate and not in excess of the amount reasonably required.2010 has incurred a sum of Rs. Subsequently. The sale price of such units/plots which was to be fixed by the government authorities has since been fixed during the year under review. 1. 8. As per Marketing Service Agreement entered into between the Company and Omaxe Azorim Developers Private Limited (Joint Venture Company). Income Tax Department has filed writ petition against the order of settlement commission before Hon'ble High Court of Delhi and is pending before it.60 mio and allowed the Company to capitalize a sum of Rs. Pending final outcome. Inventories include cost of land of Rs. (JV Partner) and Joint Venture Company. the income tax liability. 1.03 mio on construction. 222. 112. therefore. accordingly excess provision for tax made in earlier years amounting to Rs. Balances of some of the sundry debtors.95 mio. 5.03.452.78 mio) being consideration paid for Company's share of land. 2007 for settlement of cases under section 245 C (i) of the Act relating to the financial year 1999-2000 to 2005-06 and offered an aggregate income of Rs.04 mio.43 mio (Rs. on this account shall be provided for in the year in which final decision is made by such Hon'ble court. 54 Annual Report 2009-10 . The balance of said sundry debtors. the financial impact of which is unascertainable due to the reasons as above stated. 259. construction. 372.2010 is higher by Rs. 10.6. 235.403. The ultimate effect of Advance tax and Provision for tax up to Assessment Year 2007-08 has been given impact in the accounts. profits and cost to completion are subject to adjustments. which is in its possession for development of real estate projects in terms of the collaboration arrangements with subsidiaries/ associate companies/ related parties/third parties. accordingly. the Company filed an application with Income tax settlement commission on 31st May. advances given.08 mio has only been raised.60 mio relating to the accounting year 1999-2000 to 2005-06. administrative and other related cost which was to be reimbursed from such Joint Venture Company. which would be adjusted on disposal of representation so made by the Company. 2008. the Company is required to construct residential units/ develop plots for economically weaker sections on specified area of land. Project-in-Progress as at 31.62 mio (Rs.81 mio has been written back. which has been protested by the Company. profits and cost to completion of the group housing projects / development has not been revised based on sales price so fixed. Till 31. 11. as per the Subscription and Shareholding Agreement entered into between the Company and Azorim International Holding Ltd. As the matter is sub-judice. administrative and other related costs incurred by the Company on the project undertaken by such Joint Venture Company will be reimbursed by Joint Venture Company to the Company. As per terms of the licenses of certain group housing and/or township projects executed by the Company in the state of Haryana. pending completion of block assessment proceedings.03. sundry creditors. Similarly. 7.03. The Company till 31. 278.278. Current assets.

11 153.46 36.70 73.04 745.51 0.92 1.71 3.852.93 1.38 – 36.65 78.34 33.45 979.06 36. (i) Particulars in respect of due from subsidiary companies as sundry debtors: (Rupees in mio) Balance as at 31st S.00 87.84 744.11 – 744.03 – 143.085.03 – Particulars in respect of loans and advances to subsidiary companies: (Rupees in mio) Balance as at 31st S.79 26.21 – 13.31 0.100.63 122.65 3.49 3.25 – 36.63 143.21 82.08 4.15 358.20 Annual Report 2009-10 55 .07 0.78 – 1.36 Year ended March 31. 2009 40.65 1.96 69.42 72.530.49 3.52 93.29 0.12 March.52 249. 2010 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Abheek Builders Private Limited Arzoo Technobuild Private Limited Anjaniputra Builders Private Limited Ansh Builders Private Limited Bhanu Infrabuild Private Limited Eden Buildcon Private Limited Finishing Touch Properties & Developer Private Limited Garv Buildtech Private Limited Golden Glades Builders Private Limited Green Planet Colonisers Private Limited JKB Construction Private Limited JRS Projects Private Limited Landlord Developers Private Limited Max Gulf Limited Navratan Tech Build Private Limited Oasis Township Private Limited Omaxe Buildhome Private Limited Omaxe Chandigarh Extention Developers Private Limited Omaxe Entertainment Limited Omaxe Housing & Developers Limited Omaxe Housing Finance Limited Omaxe Infrabuild Limited (Formerly Ecstasy Construction & Developers Private Limited) Omaxe Infrastructure and Construction Limited – – 78.34 33.07 0.27 11.51 143.68 3.54 93.97 0.48 0.27 – 5.40 305.40 305. 2009 40. 2009 0.36 March.094.84 744.15 352.094.56 3.23 5. 2010 40.97 – 153. 2010 19.52 72.498. 2009 – – 76.15 1.86 – 2.34 54.79 0.00 2.03 – 87.No.01 Maximum outstanding during the year Year ended March 31.23 – 2.21 0.33 Maximum outstanding during Year ended March 31.02 0. 2010 1 2 3 4 Omaxe Infrastructure Limited Omaxe Housing & Developers Limited Omaxe Buildwell Private Limited Omaxe Buildhome Private Limited Total (ii) – 54.16 – 56.13.42 73.25 3.63 122.08 4.43 5.49 3.No.06 36.93 3.498. Name of Company March.48 0.49 – 5.09 482.15 352.08 4.96 69.92 1.09 Year ended March 31. Name of Company March.92 – 11.49 2.31 0.

73 148.43 1.11 6. Name of Company March.03 619.17 – 11. 01.61 11.07 0.85 29.01 19.52 – – 6.65 – 76.11 0.15 1. Realtors Private Limited Sanvim Developers Private Limited (w.71 – 19.61 mio). 2007.15 15.42 549. 2010 10.95 Maximum outstanding during the year Year ended March 31. The total number of options available in the plan is 3% of the total paid up equity capital of the Company.e.78 – 75.(Rupees in mio) Balance as at 31st S.09.09) Shubh bhumi Developers Private Limited (w.f. either on collaboration basis or self.20 0. Name of Company March. 8.81 – 1.69 0. 2009 6.06 92.e.85 Year ended March 31.37 0. 2009 7.73 149.995. 2009 1.15 mio (Rs.41 149.f.73 176.09) 10. 56 Annual Report 2009-10 . 25. (Rupees in mio) Balance as at 31st Maximum outstanding during Year ended March 31.09) Sri Balaji Green Heights Private Limited Aadhira Developers Private Limited (w.43 1.No.19 – – – – Advances include advances against collaboration amounting to Rs. 01.34 0.01 19.61 The Company has adopted Omaxe ESOP Plan Beta in the Annual General Meeting held on September 27.01 19. 2010 24 25 26 27 28 29 30 31 32 33 34 Omaxe Powers Private Limited Pancham Realcon Private Limited Priomordial Buildcon Private Limited Radiance housing & Properties Private Limited Rivaj Infratech Private Limited Rohtas Holdings (Gulf) Limited S.71 0.79 – – 619.851.83 76.19 mio) paid to certain parties (including subsidiaries/associates/related parties) for acquiring land for development of real estate projects.18 46.85 25. Advances recoverable in cash or in kind includes.No.26 0. 2010 1.89 – – – – 5.08 Year ended March 31.16 – – – – 5.11 0.e.09.37 1.85 (ii) S. No options have been granted till date. due from private companies in which director(s) is a director or member Rs. 29.07 0. 6.73 0. 01.development basis. 2009 1. (i) March. Stock options schemes OMAXE ESOP PLAN BETA March.39 76.06 43.f.65 0.848.015.75 – – 24.09.17 mio (Rs.73 14.15 2.37 0.42 619.89 0. N. 2010 1 2 3 4 5 6 7 8 Buildwell Builders Private Limited Jai Bhoomi Projects Limited Omaxe Hotels Limited Goel Isha Colonisers Private Limited Hansa Properties Private Limited Rocky Valley Resorts Private Limited Uppal Resorts Private Limited B D Aggarwal Securities Private Limited 1.

211. 2. 24.00 mio (Rs. 332. 1.90 mio) is secured by equitable mortgage of project properties owned by collaborator. Secured loans a) Term loans from banks aggregating to Rs. associate and other company. 3. c) Term loans from banks aggregating to Rs.00 mio (Rs. 604.00 mio) is secured by equitable mortgage of project properties & charge over cash flow and are further secured by personal guarantee of two directors of the Company.56 mio) is secured by first charge on current assets of the Company including stock at site.60 mio)] Term loans from banks are further secured by personal guarantee of one director of the Company. 739. f) Term loan from banks aggregating to Rs.50 mio)] Working capital loans of Rs.662. 1.30 mio)] Term loans from banks are further secured by personal guarantee of two directors of the Company.57 mio)] Term loans from housing finance companies aggregating to Rs.001.21 mio (Rs.886. [Amount repayable within one year Rs. associate and other company. 422. 192. e) Term loan from Financial Institution aggregating to Rs. 75. 332.79 mio (Rs.00)] Term loans from financial institutions are further secured by personal guarantee of one director of the Company.11 mio (Rs. 2.95 mio (Rs. 42.16. 8.208.60 (Rs. 223. [Amount repayable within one year Rs. [Amount repayable within one year Rs.169.13 mio)] Term loans from housing finance companies are further secured by personal guarantee of two directors of the Company.83 mio (Rs.60 mio) is secured by equitable mortgage of project properties of subsidiary. h) Vehicle loans aggregating to Rs. Nil)] Term loan from financial institution are further secured by personal guarantee of two director of the Company. 2.625. Above term loans and working capital loans are further secured by personal guarantee of two directors of the Company.43 mio)] Term loans from Non Banking Financial Company aggregating to Rs. [Amount repayable within one year Rs.337. 110.54 mio (Rs. 2. [Amount repayable within one year Rs. 17. Nil)] Term loans from banks are further secured by personal guarantee of two directors of the Company. 522.30 mio) is secured by equitable mortgage of project properties and all present and future construction and development work thereon as applicable.33 mio (Rs.67 mio) are secured by hypothecation of the vehicles purchased there against. 1. 27.91 mio) is secured by equitable mortgage of project properties referred in note 12 above and corporate guarantees provided by such group companies and wholly owned subsidiary company as applicable. receivables. plant and machinery and mortgage of certain land of the Company.00 mio) is secured by equitable mortgage of project land of wholly owned subsidiary company. 2.000. 138.60 mio (Rs. [Amount repayable within one year Rs. 2.09 mio (Rs. Nil (Rs. [Amount repayable within one year Rs.00 mio (Rs.36 mio (Rs. 5. d) Term loans from Financial Institutions aggregating to Rs. 196.00 mio (Rs.40 mio (Rs.33 mio (Rs. associate and other company. 332.00 mio (Rs. 496.582. 1. Nil) is secured by equitable mortgage of project land of wholly owned subsidiary company.00 mio) is secured by equitable mortgage of project land of the subsidiary and associate company. [Amount repayable within one year Rs. [Amount repayable within one year Rs. 845. 664. 192.400. b) Term loans from banks aggregating to Rs. g) i) j) Annual Report 2009-10 57 .

350 mio (Rs. payable on monthly basis on 1st of every month.00 mio) Non convertible redeemable debentures of Rs. Series K: Rs. 500 mio)] The said debentures are secured by equitable mortgage of land situated at Gujarat and further secured by personal guarantee of a director of the Company. 1000. 55. 400 mio (Rs. 80.10 mio each carrying a interest rate of 13. Short term inter corporate loan aggregating to Rs. 180 mio) Non convertible redeemable debentures of Rs.10 mio each were carrying a interest rate of 14. 400 mio) Non convertible redeemable debentures of Rs. 100.00 (Rs. Nil (Rs. The said debentures are secured by equitable mortgage of land situated at Gujarat and further secured by personal guarantee of a director of the Company. 300 mio (Rs. 300 mio) Non convertible redeemable debentures of Rs.00 mio)] Short term inter corporate loan are secured by shares of the company held by promoter.k) Non convertible redeemable debentures I i) Series G: Rs.00 mio (Rs. Nil (Rs.19 mio (Rs. Series G: Rs. These debentures were issued to a mutual fund and later on transferred to LIC of India. 650 mio (Rs.00%. These debentures are issued to a mutual Fund. payable on monthly basis on 1st of every month. Unsecured loan a) Fixed deposit from public [Amount repayable within one year Rs. II Series F: Rs. These debentures are issued to a mutual fund.00 mio) [Amount repayable within one year Rs.00 mio (Rs. 364. [Amount repayable within one year Rs. These debentures were issued to a mutual fund. [Amount repayable within one year Rs. 1. 600 mio) Non convertible redeemable debentures of Rs.95%.000 mio)] ii) iii) l) Deferred payment credit of Rs.97 mio). 1000. 80. The said debentures were listed on the Bombay Stock Exchange. 250 mio)] III. [Amount repayable within one year Rs. 250 mio) Non convertible redeemable debentures of Rs. As per revised terms these debentures are redeemable in twelve installments commencing from 30th April. 364.19 mio)] 17. 180 mio)] IV. Nil (Rs. Series L: Rs.10 mio each were carrying a interest rate of 13.19 mio) represents cost of project land acquired from government development authorities on installment payment basis and is secured by mortgage of the related project land. 364.10 mio each carrying a interest rate of 13. Nil (Rs.50 times throughout the currency of the debenture and were further secured by personal guarantee of two directors of the Company and corporate guarantees of promoter companies.00%.95%.19 mio (Rs.10 mio each carrying a interest rate of 12%. payable on monthly basis on 1st of every month. [Amount repayable within one year Rs.10 mio each carrying a interest rate of 14. The said debentures were secured by first mortgage and charge of pari-passu basis on entire project assets of 'Omaxe Citadel' and other property of the company so as to maintain a minimum FACR of 1. Nil mio (Rs.75% payable on monthly basis. [Amount repayable within one year Rs. Series J: Rs. These debentures were issued to a Bank. b) 58 Annual Report 2009-10 . 2011. The said debentures were secured by equitable mortgage of land situated at Gujarat. 100. Nil (Rs. 364. These debentures are issued to a mutual fund.

000 Ordinary Equity Shares having pari .passu right in every respect with the Ordinary Equity Shares excepting the Superior dividend right and preferential right to distribution on liquidation. N. the Company's share of each of the assets. N. Apart from the above Azorim has also been issued Differential Equity constituting 2410 Equity Class A Shares. Since company share in assets and liabilities in such Joint Venture Company has reduced to zero.220 Class C Preference shares. 6311 Equity Class B Shares and 189 Equity Class C Shares having pari . 0.59 15. proportionate consolidation method has been adopted. In terms of the Subscription & Shareholder Agreement & Amendment thereof.A. 2006 and.A. the effect of transactions between the Company and the joint venture) related to its interests in this joint venture based on un-audited results are given here under: (Rupees in mio) Year ended March 31.45 0. No provision for diminution in value of investment in Joint Venture Company has been made. disclosures relating to amounts unpaid as at the year end together with interest paid / payable under this Act has not been given. N.A.A.00 (1.c) Loan from subsidiary company of Rs.A. Small and Medium Enterprises Development Act. (each after elimination of. N.A.000 Superior Equity Shares having pari . N. share in profit and loss item is considered @ 50:50 (previous year 50:50).09) Year ended March 31.A. 0. N.62) Annual Report 2009-10 59 . 555.000 Ordinary Equity Shares & Azorim holds 500. etc. for the purposes of Company's share in assets and liabilities. Azorim also holds 500. 122. as such diminution is of temporary in nature.68 0. N. no such consolidation of assets and liabilities has been made in Company Financial Statement. hence.43 0.47 0. liabilities. 19. Small Scale Business Entities The Company has not received information from vendors regarding their status under the Micro.passu right in all respect except nil voting rights and nil rights towards Dividend and 2. The Company's interest in the Joint Venture is reported as Long term Investment (Schedule 6) and stated at cost. N. N.A.00 (15. Micro.A.passu rights in all respects including Voting Rights.A.00. 2009 N.A. Company holds 10. Accordingly.A. Further. 500 mio) from promoter companies. Nil mio (Rs. income and expenses. However. [Amount repayable within one year: Repayable on demand] Inter corporate loans of Rs. Interest in Joint Venture The Company entered into a 50 : 50 Joint Venture in Omaxe Azorim Developers Private Ltd (incorporated in India) with M/ s Azorim International Holdings Limited (Azorim) for development of the Real Estate Project in India.88 0.46 mio). However. 2010 Project in progress Cash and bank balances Loans and advances Current Liabilities Profit & loss account (debit balance) Deferred tax assets Other income Administration cost Finance cost Provision for tax Profit after tax N. [Amount repayable within one year: Repayable on demand] d) 18. N.27 mio (Rs.

20. Employee Benefit A. Gratuity The Company is having group gratuity scheme with LIC of India. i) Amount recognized in Profit & Loss account is as under: (Rupees in mio) Description Current service cost Interest cost Expected return on planned assets Net actuarial (gain)/loss recognized during the year Total ii) Movement in the liability recognized in Balance Sheet is as under: (Rupees in mio) Description Present value of obligation at the beginning of the year Current service cost Interest cost Benefit paid Actuarial (gain) / loss on obligation Present value of obligation as at the end of year iii) Net assets / liability recognized in Balance Sheet as at 31st March, 2010 (Rupees in mio) Description Present value of obligation as at the end of the year Fair value of plan assets as at the end of the year (Assets)/Liabilities recognized in the Balance Sheet iv) Changes in fair value of plan assets (Rupees in mio) Description Fair value of plan assets at the beginning of the year Expected return on plan assets Contribution Benefit Paid Actuarial gain\ (loss) on plan assets Fair value of plan assets at the end of the year Year ended March 31,2010 0.93 0.08 1.03 (1.06) (0.02) 0.96 Year ended March 31,2009 3.59 0.33 0.00 (2.90) (0.09) 0.93 Year ended March 31,2010 19.39 0.96 18.43 Year ended March 31,2009 20.22 0.93 19.29 Year ended March 31,2010 20.22 4.07 1.52 (1.06) (5.36) 19.39 Year ended March 31,2009 20.28 4.78 1.42 (2.90) (3.36) 20.22 Year ended March 31,2010 4.07 1.52 (0.08) (5.33) 0.18 Year ended March 31,2009 4.78 1.42 (0.33) (3.27) 2.60

60

Annual Report 2009-10

For determination of gratuity liability of the Company the following actuarial assumption were used. (Rupees in mio) Description Discount rate Future salary increase Expected rate of return on planned assets Method used Year ended March 31,2010 7.50% 5.00% 9.00% Projected unit credit actuarial method Year ended March 31,2009 7.00% 4.50% 9.15% Projected unit credit actuarial method

B.

Leave Encashment Provision for leave encashment in respect of unavailed leaves standing to the credit of employees is made on actuarial basis. The Company does not maintain any fund to pay for leave encashment. i) Amount recognized in Profit & Loss account is as under:(Rupees in mio) Description Current service cost Interest cost Net actuarial (gain)/loss recognized during the year Recognized in Profit & Loss account ii) Amount recognized in the Balance Sheet as at 31st March, 2010 (Rupees in mio) Description Present value of obligation at the end of the year iii) Movement in the liability recognized in Balance Sheet is as under: (Rupees in mio) Description Present value of obligation at the beginning of the year Interest cost Current service cost Benefit paid Actuarial (gain)/loss on obligation Present value of obligation at the end of the year Year ended March 31,2010 15.85 1.18 7.08 (1.58) 1.70 24.23 Year ended March 31,2009 8.49 0.59 5.86 (3.87) 4.78 15.85 Year ended March 31,2010 24.23 Year ended March 31,2009 15.85 Year ended March 31,2010 7.08 1.18 1.70 9.96 Year ended March 31,2009 5.86 0.59 4.78 11.23

For determination of liability in respect of leave encashment, the Company has used the following actuarial assumption. Description Discount rate Future salary increase Actuarial method used Year ended March 31,2010 7.50% 5.00% Project unit credit actuarial method Year ended March 31,2009 7.00% 4.50% Project unit credit actuarial method

Annual Report 2009-10

61

C.

Provident Fund The Company makes contribution to statutory provident fund in accordance with Employees Provident Fund and Misc. Provision Act, 1952. This is post employment benefit and is in the nature of defined contribution plan.

21. Earning per share Particulars Profit after tax (Rupees in mio) Numerator used for calculating basic and diluted earnings per share (Rupees in mio) Equity shares outstanding as at the year end Weighted average number of shares used as denominator for calculating basic and diluted earnings per share Nominal value per share (Rs.) Basic and diluted earning per share (Rs.) 22. Earning in foreign currency (Rupees in mio) Particulars Receipts against booking of units in 'Real Estate Projects' 23. Expenditure in foreign currency (Rupees in mio) Particulars Foreign travel Consultancy charges Others Total 24. C.I.F. value of imports (Rupees in mio) Particulars Purchase of material 25. Auditors' remuneration (Rupees in mio) Particulars Audit fees Tax audit fees Total Year ended March 31,2010 3.09 0.55 3.64 Year ended March 31,2009 3.09 0.55 3.64 Year ended March 31,2010 – Year ended March 31,2009 43.65 Year ended March 31,2010 2.40 – 0.97 3.37 Year ended March 31,2009 6.01 0.49 8.31 14.81 Year ended March 31,2010 5.35 Year ended March 31,2009 16.76 Year ended March 31,2010 907.72 907.72 173,567,000 173,567,000 10 5.23 Year ended March 31,2009 823.07 823.07 173,567,000 173,567,000 10 4.74

62

Annual Report 2009-10

Computation of net profit under section 349 of the Companies Act 1956 is as given below: (Rupees in mio) Particulars Profit before tax Add: .35 1.2010 Year ended March 31.98 60.50 7. Rs.2009 Annual Report 2009-10 63 .62 1.01 7. 2010 for all the contracts in progress The amount of customer advances outstanding for contracts in progress as at March 31.50 164.50 Year ended March 31.Directors remuneration* .72 52.2009 75.27 60.00 7.50 17.50 8. 2010 The amount of retentions due from customers for contracts in progress as at March 31.56 2.73 68.Depreciation as per profit & loss account Total Less: Profit on sale of assets Depreciation u/s 350 of The Companies Act.78 – Year ended March 31.50 7.Commission .75 910. 2010 Year ended March 31.61 28.043. 2010 Gross amount due from customers including work in progress for contracts in progress as at March 31.50 Year ended March 31. 2.04 36.2010 1.35 893.016.92 Year ended March 31.2009 812.14 8.73 67.40 7.64 7.17 52.90 54.40 mio) 27.75 972.Provision for doubtful debts .64 mio (Rs 2.08 9.99 – 46.2010 774.00 2.50 63. Managerial remuneration (Rupees in mio) Particulars (i) Payments to the Managing and Joint Managing director Salaries and allowances Perquisites** Commission (ii) Payments to whole time director Salaries and allowances (iii) Payments to independent directors Commission Total **Computed in accordance with the provisions of the Income Tax Act 1961. 2003:(Rupees in mio) Particulars Contract revenue recognised as revenue for the year ended March.53 0.71 0. 2010 Gross amount due to customers for contracts in progress as at March 31.50 83.40 11.23 0. 1956 Net Profit Commission payable to Chairman and Managing Director * including perquisites under the Income Tax Act. in respect of contracts entered into on or after April 1.83 221. Disclosure in accordance with Accounting Standard -7 (Revised).35 841. 2010 Aggregate amount of contract costs incurred and recognised profits (less recognised losses) upto March 31.54 – 90.26.

66 – 7.00* – – 0.34 1. 2010 are as follows:(Rupees in mio) Minimum lease payments i) ii) iii) Total * Amount is Rs.72 Construction Others Total 64 Annual Report 2009-10 . developed plots etc.016.92 (132. Payable not later than one year Payable later than one year and not later than five years Payable later than five years Year ended March 31.16 95.50 537. c.694.44 37. 2010 0.80) 907. Real Estate REVENUE External revenue Inter Segment Revenue Total revenue SEGMENT RESULT Unallocated corporate expenses net of unallocated income Operating profit Interest expenses Interest income Income taxes (including prior year tax adjustment) Net profit after tax OTHER INFORMATION Segment assets Unallocated corporate assets TOTAL ASSETS Segment liabilities Unallocated corporate liabilities TOTAL LIABILITIES Capital expenditure Depreciation/ amortisation Non cash expenses other than depreciation/ amortisation 32.90 684.980.47 mio).386. construction. The future minimum lease payments in respect of which as at March 31.231.016.673.90 – – – – – 250.230.64 7.35 – 6.287.70 8.949.20 5. 960.949.65 – – – – – – 1. The lease agreements provide for an option to the Company to renew the lease period at the end of the non-cancellation period.37 – – – – – – – 7.62 0.80 – – 0. residential.834.62 – 1. Lease a.88 – – 6. The Company has taken on non-cancellation operating lease certain premises.135. Segment information Business segments Based on similarity of activities/products.80 29.567. Lease rent expenses in respect of operating lease debited to profit and loss account Rs.834. organization structure and internal reporting system. 2009 0.32 – – 587. There are no exceptional / restrictive covenants in the lease agreement. risk and reward structure. Construction Construction of property on behalf of clients.252.67 – 6.66 2.85 – – – – – – 98.00 – – – – – – – – – – – – – – 32.00 b. the Company has structured its operations into the following segments: Real estate Promotion.67 2.37 – 98.28. development and sale of townships.66 52. commercial property.60 43. 43.00 Year ended March 31.16 1.11 mio (Rs 47.015.

Related parties disclosures Related parties are classified as: S.2010) 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 IV Joint venture companies 1 V Omaxe Azorim Developers Private Limited Associates companies 1 2 3 Sunshine Buildtech Private Limited Omaxe Realtors Private Limited Omaxe Infrastructure Development Private Limited Annual Report 2009-10 65 .09.No. Geographic segment Operations of the Company do not qualify.02.09.02. 30.Accounting standard for Segment Reporting. Segment Reporting for the previous year has not been given as the segment namely construction activity does not qualify the threshold limit as per AS-17.2009) Aditya Realtech Private Limited Omaxe Housing And Infrastructure Limited (From 01.2009) Shubh Bhumi Developers Private Limited (From 01.2010) Fellow subsidiary companies 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Oasis Suncity Realtors Private Limited First Promoters and Developers Private Limited RPS Suncity Promoters and Developers Private Limited Volvo Properties Private Limited Sri Balaji Green Heights Private Limited Silver Peak Township Private Limited Radiance Housing and Properties Private Limited Ashray Infrabuild Private Limited Aarzoo Technobuild Private Limited Hiresh Builders Private Limited Bhanu Infrabuild Private Limited Abheek Builders Private Limited Aadhira Developers Private Limited (From 01.09.2010 to 01.2009) Sanvim Developers Private Limited (From 01.09.02.2009) Omaxe Housing And Infrastructure Limited (From 01.The trading business which was not reportable segment during the year have been grouped under the "Others" segment. for reporting as geographic segments. under the criteria set out under Accounting Standard 17 on 'Segment reporting' issued by The Institute of Chartered Accountants of India. I Name of Company II Other subsidiary companies 1 2 3 4 5 6 7 8 9 10 11 12 III Omaxe Entertainment Limited Omtech Infrastructure and Construction Limited Navratan Techbuild Private Limited Link Infrastructure and Developers Private Limited Anjaniputra Builders Private Limited Zodiac Housing and Infrastructure Private Limited Hamara Ghar Constructions and Developers Private Limited Jewel Projects Private Limited Reliable Manpower Solutions Limited Rivaj Infratech Private Limited Pancham Realcon Private Limited Garv Buildtech Private Limited Wholly Owned subsidiary companies 1 2 3 4 5 6 7 8 9 10 11 12 Omaxe Infrastructure Limited Omaxe Housing and Developers Limited JRS Projects Private Limited Monarch Villas Private Limited JKB Constructions Private Limited Green Planet Colonisers Private Limited Omaxe Connaught Place Mall Limited Omaxe Buildhome Private Limited Primordial Buildcon Private Limited Omaxe Infotech City Developers Limited Satvik Hitech Builders Private Limited Omaxe Infrastructure And Construction Limited (Formerly Omaxe Infrastructure And Construction Private Limited) Landlord Developers Private Limited Omaxe Power Private Limited S N Realtors Private Limited Finishing Touch Properties and Developers Private Limited Omaxe Rajasthan SEZ Developers Limited Eden Buildcon Private Limited Omaxe Infrabuild Limited (Formerly Ecstasy Construction and Developers Private Limited) Ansh Builders Private Limited Arman Builders Private Limited Omaxe Housing Finance Limited Golden Glades Builders Private Limited Champion Realtors Private Limited Rohtas Holdings (Gulf) Limited Max Gulf Limited Omaxe Chandigarh Extension Developers Private Limited (Formerly Golden Peak Township Private Limited) Ekansh Buildtech Private Limited Kavya Buildtech Private Limited Oasis Township Private Limited Omaxe Buildwell Private Limited Vimvin Realtors Private Limited (From 01.

Realcon Private Limited Omaxe Hotels Limited Mangal Bhumi Properties Private Limited Renown Estate Developers Private Limited Milestone Township Private Limited Luxury Township Private Limited Udal Properties Private Limited Omaxe Housing And Commercial Projects Limited (Formerly Omaxe Township Ltd.) 66 Annual Report 2009-10 .VI Entities over which key managerial personnel or their relatives exercises significant influence 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 Guild Builders Private Limited Buildwell Builders Private Limited Examo Estate Management Private Limited Axeom Advertising Solutions Limited Uppal Resorts Private Limited Constellation Capital Limited S A Finvest Limited Kautilya Monetary Services Private Limited B D Agarwal Securities Private Limited Goel Isha Colonisers Private Limited Dream Home Developers Private Limited Hansa Properties Private Limited Rocky Valley Resorts Private Limited P N Buildcon Private Limited NAJ Builders Private Limited Ramniya Estate Developers Private Limited Neegar Developers Private Limited Green Earth Promoters Private Limited M I J Infrastructure Private Limited Sumedha Builders Private Limited NJS Developers Private Limited SNJ Builders Private Limited VSG Builders Private Limited Mangla Villas Private Limited Vimsan Realtors Private Limited PSJ Developers Private Limited DVM Realtors Private Limited True Dreams Developers Private Limited Dream Techno Build Private Limited True Villas Developers Private Limited Starex Projects Private Limited True Gem Tech Developers Private Limited Green Tech Tower Builders Private Limited Naptune Technobuild Projects Private Limited True Estate Build Developers Private Limited Dream Towers Private Limited Ananddeep Realtors Private Limited Vineera Colonisers Private Limited Deepaalay Realtors Private Limited Deepsan Realtors Private Limited Naveenraj Realtors Private Limited Jivish Colonisers Private Limited Sangupt Developers Private Limited Veenish Realtors Private Limited Singdeep Estate Developers Private Limited Annay Realtors Private Limited Deepsing Realtors Private Limited Deejit Developers Private Limited 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 Parjit Realtors Private Limited Garg and Goel Estate Developers Private Limited VGSG Realtors Private Limited Vingar Developers Private Limited Garg Realtors Private Limited Manprav Developers Private Limited Raveendeep Colonisers Private Limited Devgar Estate Developers Private Limited Jitenjay Realtors Private Limited Derwal Realtors Private Limited Manwal Colonisers Private Limited Saamit Realtors Private Limited Savin Realtors Private Limited Mankish Colonisers Private Limited Gaamit Realtors Private Limited Jai Dev Colonisers Private Limited Sanya Realtors Private Limited Kishordeep Realtors Private Limited Indrasan Developers Private Limited Avindra Estate Developers Private Limited Garvish Realtors Private Limited Laldeep Realtors Private Limited Sanjit Realtors Private Limited Sankalp Realtors Private Limited Source Developers Private Limited Sandeep Township Private Limited Sandeep Landcon Private Limited Amit Landcon Private Limited Praveen Mehta Builders Private Limited Amit Jain Builders Private Limited Shiv Kripa Build Home Private Limited Krishan Kripa Buildcon Private Limited Praveen Buildcon Private Limited Motto Developers Private Limited New Horizons Township Developers Private Limited Spike Developers Private Limited Shantiniwas Developers Private Limited Starshine Realtors Private Limited Deepal Township Private Limited Sunview Township Private Limited Swapan Sunder Township Developers Private Limited Bharatbhoomi Township Limited Jai Bhoomi Projects Limited J. B.

100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 Lavanya Builders Private Limited Amod Builders Private Limited Advay Properties Private Limited Agasthya Properties Private Limited Advaita Properties Private Limited Amshul Developers Private Limited Alpesh Builders Private Limited Daksh Township Private Limited Pearl Peak Landbase Private Limited Superior Landbase Private Limited Sentinent Properties Private Limited Fragrance Housing And Properties Private Limited Beautiful Landbase Private Limited Paradise On Earth Properties Private Limited Forever Housing and Properties Private Limited Sapphire Township and Developers Private Limited Shining Home Infrastructure Private Limited Sunlife Properties Private Limited Interactive Buildtech Private Limited Rockyard Properties Private Limited Stronghold Properties Private Limited Sunrise Township Private Limited Absolute Infrastructure Private Limited Distinctive Infrastructure And Construction Private Limited Miniature Township And Properties Private Limited JSM Enterprises Private Limited Lifestyle Township Private Limited Omaxe Pragati Maidan Exhibition Limited Desire Housing and Construction Private Limited Stepping Stone Buildhome Private Limited Smart Buildhome Private Limited Swarn Bhumi Buildhome Private Limited Versatile Buildhome Private Limited Swarg Sukh Buildhome Private Limited Fast Track Buildcon Private Limited Blossom Buildhome Private Limited KBM Constructions Private Limited The International Omaxe Construction Limited Omaxe Orissa Developers Limited Glamour Hotels Private Limited Starshine Hotels Private Limited Hitech Hotels Private Limited Puru Builders Private Limited Hriday Hitech Builders Private Limited Prabal Developers Private Limited Navadip Developers Private Limited Vaibhav Technobuild Private Limited Nikunj Infrabuild Private Limited Aanchal Infrabuild Private Limited Fragrance Information And Communication Technologies Private Limited Omaxe Affordable Homes Private Limited Bhargav Builders Private Limited Arhant Infrabuild Private Limited 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 Bandhu Buildtech Private Limited Basant Infrabuild Private Limited Bhuvan Buildtech Private Limited Avtar Infrabuild Private Limited Badal Developers Private Limited Banke Builders Private Limited Aviral Buildtech Private Limited Arjit Builders Private Limited Omaxe Punjab Affordable Housing Private Limited Omaxe Uttar Pradesh Affordable Housing Private Limited Omaxe Rajasthan Affordable Housing Private Limited Omaxe Bihar Affordable Housing Private Limited Omaxe Madhya Pradesh Affordable Housing Private Limited Daksh Airport Developers Private Limited Megh Airways Private Limited Mohak Tours And Travels Private Limited Rahi Transport Private Limited Caleen Hotels Private Limited Omaxe Chhattisgarh Affordable Housing Private Limited Manik Buildcon Private Limited Kartik Buildhome Private Limited Lohith Developers Private Limited Jishnu Buildcon Private Limited Bhavesh Buildcon Private Limited Aric Infrabuild Private Limited Apoorva Infrabuild Private Limited Kanak Buildhome Private Limited Jayant Buildhome Private Limited Abhay Technobuild Private Limited Chirag Buildhome Private Limited Gaurang Buildcon Private Limited Girish Buildwell Private Limited Gurmeet Builders Private Limited Hemang Buildcon Private Limited Inesh Buildcon Private Limited Anant Realcon Private Limited Geet Buildhome Private Limited Mihir Buildwell Private Limited Sakal Agrotech Private Limited Dinkar Realcon Private Limited Davesh Technobuild Private Limited Sarva Buildtech Private Limited Caspian Realtors Private Limited Aashna Realcon Private Limited Chetan Infrabuild Private Limited Shashank Buildhome Private Limited Shardul Builders Private Limited Devang Builders Private Limited Manit Developers Private Limited Rohak Builders Private Limited Amber Infrabuild Private Limited Adil Developers Private Limited Annual Report 2009-10 67 .

2009) Shubh Bhumi Developers Private Limited (Upto 01.09.2009) Vimvin Realtors Private Limited (Upto 01.02.) M/s Rohtas Goel (HUF) M/s Sunil Goel (HUF) M/s J.B. Goel & Family (HUF) VII Key managerial personnel 1 2 3 Mr.2009) Marine Sands Ltd. Golden Crescent Red & General Trading Ltd. Seema Goel Mrs.2010) Aadhira Developers Private Limited (Upto 01.09.09.09. Rohtas Goel Mr. Bhanu Retail Private Limited Kamini Builders And Promoters Private Limited Havish Buildcon Private Limited 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 Inesh Developers Private Limited Obalesh Buildcon Private Limited Jalesh Builders And Developers Private Limited Keshto Buildcon Private Limited Badal Impex Private Limited Omaxe Retail Limited Rupesh Infratech Private Limited Damodar Infratech Private Limited Sarthak Landcon Private Limited Ayush Landcon Private Limited Rishit Buildcon Private Limited Excellent Apartments Private Limited Natraj Colonisers Private Limited NAFHIL Gujrat Homes Limited Affordable Home Loan Advisors Private Limited National Affordable Housing and Infrastructure Limited Shrey Technobuild Private Limited Radhika Buildwell Private Limited Ramneesh Builders Private Limited Divya Buildhome Private Limited Dwarkadhish Land and Farms Private Limited Cress Propbuild Private Limited Ryhme Propbuild Private Limited Eesan Estate Developers Private Limited (Upto 09. Rekha Goel 68 Annual Report 2009-10 .2009) Omaxe Housing And Infrastructure Limited (Upto 01. Jai Bhagwan Goel VIII Relatives of key managerial personnel 1 2 3 Mrs. Maa Omwati Education Trust Omaxe Foundation (Regd.2009) Sanvim Developers Private Limited (Upto 01. Sunil Goel Mr.205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 Kanha Logistics Private Limited Kirti Hotels Private Limited Umang Buildcon Private Limited Tushar Landcon Private Limited Taru Buildcon Private Limited Swapnil Buildhome Private Limited Snehal Buildcon Private Limited Shreyas Buildhome Private Limited Nakul Technobuild Private Limited Shalin Buildwell Private Limited Subodh Buildwell Private Limited Shikhar Landcon Private Limited Vaman Buildhome Private Limited Veer Buildhome Private Limited Amani Realcon Private Limited Ashtam Builders Private Limited Avval Builders Private Limited Balesh Technobuild Private Limited Bali Buildtech Private Limited Chaitanya Realcon Private Limited Hina Technobuild Private Limited Chapal Buildhome Private Limited Istuti Realcon Private Limited Damini Infratech Private Limited Inqalab Builders Private Limited Darpan Buildtech Private Limited Jagat Buildtech Private Limited Darsh Buildtech Private Limited Kalp Buildtech Private Limited Kashish Buildtech Private Limited Gagan Realcon Private Limited Mehboob Builders Private Limited Mehtab Infratech Private Limited Panchi Developers Private Limited Abhiman Buildtech Private Limited Adhar Buildtech Private Limited Abhas Realcon Private Limited Adesh Realcon Private Limited Aftab Developers Private Limited Anveshan Builders Private Limited Aneesh Buildtech Private Limited Meghmala Builders Private Limited Shamba Developers Private Limited Tariq Infrabuild Private Limited Vishishth Buildhome Private Limited Aradhya Real Estate Private Limited Arhan Builders Private Limited Daman Builders Private Limited Dhanu Real Estate Private Limited Ekapad Developers Private Limited. Sushma Goel Mrs.04.

09) – (–) 3.04) 0.91) – (–) 0.17 (0.08 (249.50) 1.91) 2.46 (143.64 (4.357.99) 4.15) – (43.61) 1.37 (99.18) – (12.08 (249.19 (60.40 (3.75 (122.01 (6.96 (1.30 (–) 98.40 (2.43 (1.92) 10.54 (474.87 (31.00 (1.75) 33.00 (1.24 (87.50) – (619.22) 484.359.495.00) 50.59 (0.06) 216.46 (143.59) – (–) 947.39) – (437.23) 0.47 (133.43) 7.96) – (–) 51.00 (6.37) 860.00) 48.87 (31.407.35) 2.72) 102.45 (14.98) – (–) – (–) – (–) – (–) – (11.25) 268.43) – (–) – (–) – (–) – (–) – – – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (6.02 (153.12) – (–) – (–) – (–) (2.66) – (387.00 (560.04 (5.99 (13.23 (0.17) 0.33) 4.10 (0.89) – (–) – (0.37 (99.09 (9.00 (0.89) 95.89 (96.58 (–) – (–) – (–) 457.93) – (–) 391.250.52 (–) – (–) 122.50 (33.61) 1.63 (125.75 (432.50) 98.50) – (–) – (–) – (–) – (–) – – – (–) – (–) 2.00) 684.52) – (–) – (–) – (–) – (–) 2.30 (–) – (–) – (–) 95.00) – (–) 78.33) 2.481.84 (–) 0.73 (60.161.40) 0.37) 860.17 (–) – (11.18) – (–) 20.46) 2.00) 807.626.69 (2.94 (101.52 (–) 740. No.50 (56.43) 94.29) 8.24 (87.49) – (–) – – – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) 153.10) 1.78 (466.68) 484.07 (74. Name of Transaction 100% Subsidiaries Other Subsidiaries Fellow Subsidiaries Joint Ventures Associates Key managerial personnel Relatives of key managerial personnel Total Transaction during the year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 Land Purchases Income from real estate projects Purchases Expenses reimbursed Trading sales Construction expenses Construction income Lease rent expenses Lease rent received Reimbursement of finance charges Donation Interest income Interest expenses Loan Processing Expenses Share of loss under collaboration Dividend paid Dividend received Remuneration Royalty expenses Investments made Share application money given Loan given Loan received back Loan taken Loan paid Guarantees given Guarantees matured Sundry Debtors Outstanding advances and loans receivable Outstanding balances payable (including inter corporate loans) Total investments Rent security receivable Outstanding guarantees Outstanding corporate guarantees 391.77) 0.133.03) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) 17.88 (133.17 (–) – (–) – (358.50 (0.64 (4.03 (295.10) 1.81) 7.06) 2.161.45 (2.50 (8.17 (50.39 (0.97) 3.00) 455.10 (6.00 (10.75) 896.41) 1.98 (917.561.46) 268.43 (1.93 (757.63 (949.53) – (–) 80.235.60 ( 2.53) – (12.409.838.50) – (–) – (–) 50.16 (86.73) – (–) – (–) – (–) 407.20) 239.545.33) 5.63) – (–) 8.52) 1.60 ( 2.50) – (620.60) Annual Report 2009-10 69 .46) 125.03 (295.00) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) 43.35) – (–) – (0.47) 1.252.45 (14.93) 896.53 (0.197.88 (511.10 (5.29) 3.66) – (–) – (437.75) – (–) 33.00 (560.43) – (–) – (–) – (–) – (–) – ( –) – (–) – (–) 740.46 (–) – (8.47) – (–) – – – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) 0.Summary of related parties transactions are as under: Entities over which key managerial personnel and / or their relatives exercise significant influence 965.561.00) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) 1.41 (6.60) – – – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) (0.305.50 (33.52) 2.54 (483.47) 21.98) 3.85 (2.59) – (–) – (–) – (–) – (–) – (–) – (–) – (1.50) 51.01 (–) – (–) 98.17) – (–) (Rupees in mio) S.02) 3.12 (0.53) – (–) – (–) – (–) – – – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (22.

2010 1 Land Purchases JRS Projects Private Limited Omaxe Chandigarh Extension Developers Private Limited Distinctive Infrastructure And Construction Private Limited Beautiful Landbase Private Limited Kartik Buildhome Pvt.76 85. 2009 Year ended March 31. 2010 Year ended March 31.42 1. Apoorva Infrabuild Private Limited Subodh Buildwell Private Limited 2 Income from real estate projects Omaxe Buildwell Private Limited Omaxe Buildhome Private Limited Omaxe Chandigarh Extension Developers Private Limited Omaxe Housing And Developers Limited Omaxe Infrastructure Limited 3 Purchase Omaxe Retail Limited Omaxe Infrabuild Limited 4 Expenses Reimbursed Omaxe Azorim Developers Private Limited 5 Trading Sale Omaxe Buildwell Private Limited Omaxe Buildhome Private Limited 6 Construction expenses Omaxe Infrastructure and Construction Ltd.10 819.05 – – – – – – – – – – 307.72 – – – – – – 0.N.12 – – 246.30 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 39.78 0.87 1. 2009 Year ended March 31. 2010 Year ended March 31. 2009 Relatives of key managerial personnel Year ended March 31. 2009 – 374. transactions in excess of 10% of the total related party transactions are as under: S.00 157. Name of Related Party Annual Report 2009-10 Year ended March 31.20 – – – 0.12 – 2.09 – 24.89 – – – – – 95.12 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 4.75 – – – – – – – – – – – – – – – – – – – – – – – – – – Of the above items.78 0. 2010 Year ended March 31.70 (Rupees in mio) 100% Subsidiaries Other Subsidiaries Fellow Subsidiaries Joint Ventures Associates Entities over which key managerial personnel and / or their relatives exercise significant influence Key managerial personnel Year ended March 31.12 – – – – – – – – – – – 2.) . 2010 Year ended March 31. 2009 Year ended March 31.42 1. 2010 Year ended March 31.20 – – – – 0.45 – – – – 0.91 – – – – 0.86 – – – – – – – – – – – – – – – – – – – – 0.63 – – – – – – – – – – – – – – 136.39 – – – – – – 509.52 – – – – – – 0.29 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 20. 2009 Year ended March 31.27 – – – – 249.76 – – – 1.00 – – – – – – 0.59 98.51 7. 2009 Year ended March 31.39 – – – – – – – – – – 15.12 – – – – – – 85.05 280.01 – 12. 2010 Year ended March 31.98 – – – – – – – – – – – – 0.10 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 16. 7 Construction income Omaxe Azorim Developers Private Limited 8 Lease rent expenses Hansa Properties Private Limited Buildwell Builders Private Limited Dwarkadish Farms & land Private Limited 9 Lease rent received Omaxe Powers Private Limited Omaxe Azorim Developers Private Limited Omaxe Infrastructure and Construction Limited Kanha Logistics Private Limited Omaxe Retail Limited 10 Reimbursement of finance charges Omaxe Buildhome Private Limited 11 Donation Maa Omwati Education Trust Omaxe Foundation (Regd.13 – – – – – 0.49 – – – – – – – – 14.46 – – – – – – – – – – – – – – 6. Ltd. 2009 Year ended March 31. 2010 Year ended March 31.82 – – – – – – – – – – – – – – – – – – – – – – – – – – 89.58 – – – – – – – – – 130.03 0.88 – – – – – 13.

10 1. 2009 Year ended March 31.50 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 500.00 260.62 87.84 – – – – – – – – – 2.50 1.60 23.55 32.98 – – – – – – – – – – – 55. 2010 Year ended March 31. 2010 Year ended March 31. A. 2010 Year ended March 31.46 13.29 – – – – – – – – – – – – – – – – – – Interest income – – – – – – – – Omaxe Entertainment Limited Hansa Properties Private Limited Buildwell Builders Private Limited 13 Interest expenses Reliable Manpower Solutions Private Limited Omaxe Azorim Developers Private Limited S.26 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 437.72 41. 2009 Year ended March 31.56 7.59 – – – – – – – – – – – – – – – – – – – – – – – 0. 2010 Year ended March 31.59 – – 0.(Rupees in mio) 100% Subsidiaries Other Subsidiaries Fellow Subsidiaries Joint Ventures Associates Entities over which key managerial personnel and / or their relatives exercise significant influence Key managerial personnel Year ended March 31.50 – – – – 0.52 – – – – – – – – 619. 2009 12 – – – – – – – – – – – – – – – 7. 2010 Year ended March 31. 2009 Year ended March 31.B.26 – – – – – – – – – – 0.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 300. 2009 Year ended March 31. Finvest Limited Kautilya Monetary Services Private Limited 71 .94 – – – – – – – – – – – – – – – – National Affordable Housing and Infrastructure Limited 16 Dividend Paid Rohtas Goel Sunil Goel Jai Bhagwan Goel Constellation Capital Limited S.00 – – – – – – – – – – – – 6.03 – – – – – – 8. 2009 Relatives of key managerial personnel Year ended March 31.29 – – – – 12. 2010 Year ended March 31.20 – – – – – – – – – – – – – – – – – – – – – – – – – – – 30.50 – – – – – – – 3. 2009 Year ended March 31. 2010 Year ended March 31.00 200.50 43. 2009 S.37 82.73 – – – – – – – – – – – 0. 2010 Year ended March 31.17 – – – – – – – – – – 36.70 0. Name of Related Party Year ended March 31.87 8.18 13.N.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 11.73 0.09 9. Finvest Limited Kautilya Monetary Services Private Limited 14 Loan Processing Expenses –S A Finvest Limited 15 – – – – – – – – – – – – – – 49. Goel 19 Royalty expenses Rohtas Goel 20 Investment made Omaxe Infrastructure and Construction Limited Garv Buildtech Private Limited Pancham Realcon Private Limited Rivaj Infratech Private Limited Rohtas Holdings (Gulf) Ltd 21 Share application money given Omaxe Infrastructure and Construction Limited 22 Loan Given Omaxe Entertainment Limited Rohtas Holdings (Gulf) Limited Annual Report 2009-10 23 Loan received back 24 Omaxe Entertainment Limited Loan taken S.A Finvest Limited NAJ Builders Private Limited Kautilya Monetary Services Private Limited Sushma Goel 17 Dividend received Omaxe Buildhome Private Limited 18 Remuneration Rohtas Goel Sunil Goel J. A.75 – – – – – – 46.70 – – – – 0.66 – – – – – – – – – Share of loss under collaboration – – – – 87.26 – – – 0.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 5.73 – – – 0.34 7.

52 – – – 122.96 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 4.98 – – – – – – – – 101.45 744.93 27.09 305. 2009 Relatives of key managerial personnel Year ended March 31.92 549.23 – 78. 2009 Year ended March 31. 2009 Year ended March 31.170. 2010 Year ended March 31. 2010 Year ended March 31. 2010 Year ended March 31.498.84 – – – – – – 619. 2009 Year ended March 31. 2009 – – 122. Private Limited Anjaniputra Builders Private Limited Navratan Techbuild Private Limited Bhanu Infrabuild Private Limited Arjit Builders Private Limited Starex Projects Private Limited 30 Outstanding balances payable (including inter corporate loans) Omaxe Infrastructure and Construction Limited Satvik Hitech Builders Private Limited Omaxe Entertainment Limited Reliable Manpower Solutions Limited .27 – – – – – 153. 2010 25 Loan paid Annual Report 2009-10 S.26 1.29 1.852.094.169.99 – – – – – – – – – – – – – – – – – 0. Omaxe Azorim Developers Private Limited Omaxe Buildhome Private Limited Navratan Techbuild Private Limited JSM Enterprises Private Limited Ramniya Estate Developers Private Limited 28 Sundry debtors Omaxe Housing & Developers Limited Omaxe Buildhome Private Limited Omaxe Buildwell Private Limited Omaxe Infrastructure Limited 29 Outstanding advances and loans receivable Omaxe Buildhome Private Limited Eden Buildcon Private Limited Rohtas Holdings (Gulf) Limited Omaxe Chandigarh Extension Developers Private Limited Finishing Touch Properties & Dev. 2009 Year ended March 31.24 – – – – 1.51 – – – – – – – 50.41 979.97 76.00 157.75 122. 2010 Year ended March 31.00 – – 2.03 – – – – – – – – – – – 33.10 – – 6.21 – – – – – 56.72 (Rupees in mio) 100% Subsidiaries Other Subsidiaries Fellow Subsidiaries Joint Ventures Associates Entities over which key managerial personnel and / or their relatives exercise significant influence Key managerial personnel Year ended March 31.N.22 – – – – – – – – – – – – – – – – – 37.73 – – – – – – – – – – – 744.50 8.53 – – – – – – – – – – – – – – – – – – 17.38 – – – – – – – – – – – – – – – – – 352.46 200. 2009 Year ended March 31.00 – – – – – – – – 114.93 – – – – – – – – – – – – – – 40.00 – – – – – – – – – – – – 384.89 – – – – – – – – – – 77.38 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 281.92 – – – 0. 2010 Year ended March 31. Finvest Limited Kautilya Monetary Services Private Limited Reliable Manpower Solutions Private Limited 26 Guarantee given Omaxe Infrastructure & Construction Limited Landlord Developers Private Limited Omaxe Housing & Developers Limited Omaxe Buildhome Private Limited Reliable Manpower Solutions Private Limited Omaxe Retail Limited Absolute Infrastructure Private Limited Navratan Techbuild Private Limited Milestone Township Private Limited Ramniya Estate Developers Private Limited 27 Guarantee matured Omaxe Infrastructure & Construction Limited Omaxe Housing & Developers Ltd.60 – – – – – – – – – – – – – – – – – – – 256.10 57.46 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – S.34 – – – – – 69.58 – – – – – – – – – – – – – – – – – – – – – 27.23 0.34 156.97 – – – – – – – – – – – – – – – – – – – – – – – – 0.10 – – – – – – – – – – 11.05 – – – – – – – – 16. A.00 – – – – – – – – – – – – 241.62 – 1. 2010 Year ended March 31. 2009 Year ended March 31.69 50.73 60. Name of Related Party Year ended March 31. 2010 Year ended March 31.92 – – – – 2.00 – – – – – – – – – – – – 287.29 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 260.

N.76 307.400. 2009 Year ended March 31.00 – – – 2.38 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – Year ended March 31.00 121.14 – – – – – – – – – – 212.00 82. 2010 Year ended March 31. Name of Related Party Year ended March 31.23 0.24 0. Realtors Private Limited Omaxe Realtors Private Limited Omaxe Infrastructure Development Private Limited Omaxe Azorim Developers Private Limited Omaxe Buildhome Private Limited Satvik Hitech Builders Private Limited S.00 – – – – – – – 45.88 511. 2010 Year ended March 31.25 – – – – – – – 0.00 – – – – – – – – – – 14.24 323.00 10.02 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 54.N.92 – – – – – 0. Realtors Private Limited Reliable Manpower Solutions Private Limited 32 Rent security receivable Hansa Properties Private Limited Buildwell Builders Private Limited Dwarkadish Farms & land Private Limited 33 Guarantee Outstanding Omaxe Housing & Developers Limited Omaxe Buildhome Private Limited Omaxe Infrastructure & Construction Limited Navratan Tech Build Private Limited Reliable Manpower Solutions Limited Omaxe Azorim Developers Private Limited Mile Stone Township Private Limited Ramniya Estate Developers Private Limited JSM Enterprises Private Limited 34 Outstanding corporate guarantees Omaxe Buildhome Private Limited Annual Report 2009-10 Omaxe Infrastructure and Construction Limited 73 .75 336. Finvest Limited Kautilya Monetary Services Private Limited Distinctive Infrastructure and Construction Private Limited Dvm Realtors Private Limited Rohtas Goel Sunil Goel 31 Total investment Reliable Manpower Solutions Limited Omaxe Buildhome Private Limited Satvik Hitech Builders Private Limited S.000.00 – – – 2.07 – – – – 145.00 1.00 – – – – – – 11.00 14. 2009 Volvo Properties Private Limited Omaxe Azorim Developers Private Limited Sunshine Buildtech Private Limited S.47 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 14.00 14.97 – – – Year ended March 31.99 7.50 5. A.25 0. 2010 – – – – – – – 34.14 308.50 – – – – Year ended March 31.000.49 – 366. 2010 – – – – – – – – – – 250.53 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 10. 2009 Year ended March 31.00 5.75 – – – – 333. 2009 Year ended March 31. 2010 Year ended March 31.00 – – – – – – – – 250.00 323. 2009 Relatives of key managerial personnel Year ended March 31. 2010 Year ended March 31.50 5.00 400.00 – – – – – – – – – – – – – – – – – – 6.23 – – – – – 457. 2009 Year ended March 31.00 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 0.89 – – – – – – – – – 96. 2010 – – – 376.(Rupees in mio) 100% Subsidiaries Other Subsidiaries Fellow Subsidiaries Joint Ventures Associates Entities over which key managerial personnel and / or their relatives exercise significant influence Key managerial personnel Year ended March 31.48 – – – – – – – – – – – – – – – – – – – – – – – – – – – – 78.76 – – – – – – 2.21 – – – – – – – – – – 332.83 145.91 5. 2010 Year ended March 31.21 – – – – – – – – 1.49 – – 186. 2009 S. 2009 Year ended March 31.50 0.400.00 6.00 – – – – – – – – – 121.N.11 282.00 – – – – – – – – – 0.

1 Item Unit Opening Stock Qty Steel MT 52. Doogar Partner M No.53) Value 99. Tax Credit available as per section 115JAA of Income Tax act.50 (2. 231. 1961.84 (103. 1961. 34.00 mio.188.958.99 (–) Value 1.57 mio (Rs. 33. in respect of real estate operation and construction activities.46) Closing Stock Qty – (52. 000561N) Chartered Accountants Sd/M.99) Value – (1. Based on the legal opinion obtained by the management.94) Sales (including applicable levies) Qty 3.78) 32.K.011. No.38 mio has been withdrawn from debenture redemption reserve earlier created. No. 44. 2010 74 Annual Report 2009-10 .96 (104. the provisions of clause 3(ii) of part II to schedule VI of the Companies Act. Provision for Tax has been computed under section 115JB of Income Tax Act.54) Value 101. consequently the said details have not been given. 41. amounting to Rs. Previous year figures have been regrouped/reclassified where necessary to conform with current year's classification As per our audit report of even date attached For and on behalf of Doogar & Associates (Regn. Particulars regarding Trading Goods (Construction related material are as under: (Rupees in mio) S. 1956 is not applicable to the Company.51 (3. 680.78 (–) Purchase Qty 3.241. During the year Company has redeemed debentures of Rs. Accordingly a sum of Rs.87) has been included under MAT Credit Entitlement under Loans and advances.80077 For and on behalf of board of directors Sd/Rohtas Goel DIN: 00003735 Chairman and Managing Director Sd/Vimal Gupta Additional Vice President (Finance & Accounts) Sd/Jai Bhagwan Goel DIN: 00075886 Director Sd/Venkat Rao Company Secretary Place: New Delhi Date: 27th May.31.

44 1.11 2.00 (0.114. Note 1 : The above cash flow statement has been prepared under the ‘Indirect Method’ as set out in the Accounting Standard 3 ‘Cash Flow Statement’ issued by the Institute of Chartered Accountants of India.81 (50.73) 2.576.19 580.68 (149. 2010 Annual Report 2009-10 75 .75) 378.388.13) (3.76) 5. C.82 (1.34) 2.463.11) (82.39 1.81 (7.884.05) (3.676.98) (7.23 1.deposits and advances Liabilities no longer required written back Provision for losses in subsidiary Profit on sale of fixed assets Profit on sale of investment Operating profit before working capital changes Adjustments for working capital Inventories Projects in Progress Sundry debtors Loans and advances Current liabilities and provisions Cash used in operating activities Direct tax paid Net cash used in from operating activities Cash flow from investing activities Purchase of fixed assets Sale of fixed assets Purchase of investments Sale of investments Interest received Dividend received Net cash used in investing activities Cash flow from financing activities Interest and finance charges paid Repayment of borrowings Proceeds from borrowings Dividend and dividend tax paid Net cash generated from financing activities Net increase/(decrease) in cash and cash equivalents Opening balance of cash and cash equivalents Closing balance of cash and cash equivalents 774.71 8.92 52. Doogar Partner M No.72) 2.952.500.11 1.80) (710.496. 2010 (Rupees in mio) 31-Mar-10 31-Mar-09 812.76 (43.82) 1.25 (432.061. Note 2 : Depreciation includes amount charged to operating expenses.406.09) 2.80077 For and on behalf of board of directors Sd/Rohtas Goel DIN: 00003735 Chairman and Managing Director Sd/Vimal Gupta Additional Vice President (Finance & Accounts) Sd/Jai Bhagwan Goel DIN: 00075886 Director Sd/Venkat Rao Company Secretary Place: New Delhi Date: 27th May.825.50) 5.49 702.591.61) (2.04 3.07) 4.218. for the year ended March 31.48 1.66) 0.44 Cash flow from operating activities Profit for the year before tax Adjustments for : Depreciation Dividend income Interest income Interest and finance charges Employee compensation expense Bad debts Provision for doubtful debts.114.533.17) – 3.080.20) (7.16) 4.75 (443.80 128.012.K.77) (2.18) (938.988.78) (4.77) 2.27 (5.376.51 (57.79) 1.47 (2.34 – (95.29 4.71 60.335.536.72 (0.70) 4.00 (0.838.78 – – 11.15 (0.450.10) 2.492.60) 95.67 (2.03 221.92 B.Cash Flow Statement A.06 82.92) 2.642.53 (373.704.30 388.77 443.753. As per our audit report of even date attached For and on behalf of Doogar & Associates Chartered Accountants Sd/M.92 2.19 (66.

583.80 IV Performance of Company (Amount in Rs. Right issue d. thousand) Turnover Profit before tax Weighted earnings per share in Rs.247.80 Total assets 37. 8.735.095.073.66 Investments Miscellaneous expenditure 2.Balance Sheet abstract and Company’s General Business Profile I Company’s Registration details Registration No.670.69 Nil V Generic names of three principal products/services of Company (as per monetary terms) Item code No.47 122. (ITC Code) Product Description Not applicable Real estate development/promotion & civil construction contracts For and on behalf of the board Rohtas Goel DIN: 00003735 Chairman & Managing Director Vimal Gupta Additional Vice President (Finance & Accounts) Place: New Delhi Date: 27th May. Thousand) Total liabilities Source of Funds Paid-up capital Share application money Secured loans Application of Funds Net fixed assets Net current assets Deferred tax assets 246.715.974.459.220.23 Total expenditure Profit after tax Dividend rate 7.055.673.651.298.401.51 – 1.673.630. 2010 State Code 55 Capital raised during the year (Amount in Rs.83 774. Thousand) a. Balance sheet date II 35389 March 31. Public issue c.18 Reserves & surplus Unsecured loans Deferred tax liability 12.00 26.00 Nil 14.540.919.41 5. 2010 Jai Bhagwan Goel DIN: 00075886 Director Venkat Rao Company Secretary 76 Annual Report 2009-10 .65 655.630.113.266.882.42 907. Bonus issue Nil Nil b. Private placement Nil Nil III Position of Mobilisation and Deployment of funds (Amount in Rs.81 Nil 37.

and our report. 2010. in all material respects. 1. and our report. in so far as it relates to the amounts included in respect of said wholly owned subsidiary companies are based solely on these certified financial statements. We have audited the attached consolidated balance sheet of Omaxe Limited (“the Company”). Doogar Partner M. total expenditure of Rs. 3. 7. Our responsibility is to express an opinion on these consolidated financial statements based on our audit. 2006 (as amended). Accounting Standards (AS) 23. 2. of the state of affairs of the Group as at March 31. and also the consolidated profit and loss account and the consolidated cash flow statement for the year ended on that date annexed thereto (collectively referred to as ‘consolidated financial statements’). associates and joint venture (collectively referred to as ‘the Group’) as at March 31. 2010 Annual Report 2009-10 77 . whose audit report have been furnished to us. b. 80077 Place: New Delhi Date: 27th May. ‘Financial Reporting of interests in Joint Ventures’ [notified pursuant to the Companies (Accounting Standards) Rules. 2010. in accordance with an identified financial reporting framework and are free of material misstatements. as well as evaluating the overall consolidated financial statements presentation.13 mio and net cash flows amounting to Rs. We report that the consolidated financial statements have been prepared by the Company’s management in accordance with the requirements of Accounting Standards (AS) 21. 0. An audit also includes assessing the accounting principles used and significant estimates made by management. its subsidiaries. in so far as it relates to the amounts included in respect of said joint venture company is based solely on these certified financial statements. 2010. and in our opinion. 2010 have been audited by other auditor. 0.95 mio as at March 31. 0. These consolidated financial statements are the responsibility of the Company’s management and have been prepared by the management on the basis of separate financial statements and other financial information regarding components. of the cash flows of the Group for the year ended on that date. . Those standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are prepared. is based solely on that report. We conducted our audit in accordance with generally accepted auditing standards in India. have not been audited and have been certified by the management and have been furnished to us. No. of the profit of the Group for the year ended on that date. incorporated outside India whose financial statements reflect total assets of Rs. 549. in the case of the Consolidated Profit and Loss Account . give a true and fair view in conformity with the Accounting Principles Generally Accepted in India: a. 6. 3. ‘Accounting for Investments in Associates in Consolidated Financial Statements’ and Accounting Standards (AS) 27. we are of the opinion that the attached consolidated financial statements read with the significant accounting policies and other notes thereon.73 mio as at 31st March. We believe that our audit provides a reasonable basis for our opinion. 2010. For Doogar & Associates (Regn. evidence supporting the amounts and disclosures in the consolidated financial statements.94 mio. total revenue of Rs. in so far as it relates to the amounts included in respect of these associates. in the case of the Consolidated Balance Sheet. total expenditure of Rs.08 mio and net cash flows amounting to Rs. 2010.AUDITORS' REPORT To the Board of Directors of Omaxe Limited 1. 4. 5. have not been audited and have been certified by the management and have been furnished to us. ‘Consolidated Financial Statements’. and in the case of the Consolidated Cash Flow Statement. The financial statements of three associates whose financial statements reflect the Group’s share of loss (net) of Rs.K.04) mio for the year ended March 31.08 mio for the year ended March 31. examining on a test basis. (0. Based on our audit and on the consideration of reports of other auditors on separate financial statements and on other financial information of the components and accounts certified by the management as explained in the paragraph 3 & 4 above and to the best of our information and according to the explanations given to us. No.000561N) Chartered Accountants Sd/M. The financial statements of one joint venture company namely Omaxe Azorim Developers Private Limited whose financial statements reflect total assets of Rs. An audit includes. The financial statements of two wholly owned subsidiary companies namely Rohtas Holdings (Gulf) Limited and Max Gulf Limited. 2010. Nil.107.02 mio for the year ended March 31. total revenue (including other income) of Rs. c. 58.

26 6.79 655.80077 For and on behalf of board of directors Sd/Rohtas Goel DIN: 00003735 Chairman and Managing Director Sd/Vimal Gupta Additional Vice President (Finance & Accounts) Sd/Jai Bhagwan Goel DIN: 00075886 Director Sd/Venkat Rao Company Secretary Place: New Delhi Date: 27th May.243.832.41 8.61 25.42 6.082.48 488.67 13. Doogar Partner M No.027.503.735.64 1.Consolidated Balance Sheet SOURCE OF FUNDS Shareholder’s funds Share capital Reserves and surplus Minority interest Loan funds Secured loans Unsecured loans TOTAL APPLICATION OF FUNDS Fixed assets Gross block Less: depreciation Net block Capital work in progress Goodwill (net of capital reserve) on consolidation Investments Deferred tax asset (net) Current assets.04 277.83 496.70 9.01 3 4 5 6 7 8 9 10 11 12 570.973.40 17.12 7.61 32.33 40.12 1.30 42.70 656.08 7.60 641.137.94 475.39 34. No.95 1.778. 2010 78 Annual Report 2009-10 .83 31-Mar-09 1.11 278.202.90 112.761.481. 2010 (Rupees in mio) Schedule 1 2 31-Mar-10 1.79 19.70 15.99 23.65 7.171.06 475.42 102.67 14.37 2.613.05 217.596.17 292.34 2.06 33.80 33.403. 000561N) Chartered Accountants Sd/M.546.968.651.87 2.27 18.696.250.28 19.13 34. loans and advances Inventories Projects in progress Sundry debtors Cash and bank balances Loans and advances Current liabilities and provisions Current liabilities Provisions Net current assets TOTAL Significant Accounting Policies and Notes to Accounts as at March 31.91 505.364.901.957.613.91 7.13 33.735.67 14.957.818.756.78 105.01 13 14 22 The schedules referred to above form an integral part of the balance sheet As per our audit report of even date attached For and on behalf of Doogar & Associates (Regn.042.K.44 105.190.

267.034.Deferred tax charge/(credit) .03) 23. Doogar Partner M No.Fringe benefit .09) 6.35 6.69 17 18 19 20 21 5 The schedules referred to above form an integral part of the profit and loss account As per our audit report of even date attached For and on behalf of Doogar & Associates (Regn.79 354. 2010 (Rupees in mio) Schedule INCOME Operating income Income/ (loss) from associates Other income EXPENDITURE Operating cost Employee cost Administration cost Selling cost Finance cost Depreciation Profit before tax Provision for tax .01 (0.987.96 7.07) 467.26 128.95 6.35 6.01 160.148.11) 1.35 – 100.Tax adjustments for earlier years .23) 1.61 5.79 2.147.31 218.76 1.34 418.215.30 (0.Current .00 6.54 (0.23 (0.012.112.78 83.13 467. 2010 Annual Report 2009-10 79 .00 5.02 (18.23 5.090. 000561N) Chartered Accountants Sd/M.01 5.090.05 291.02) 134.640.33) (25.23 17.91 0.125.58 364.86 10.74 1.80 (223.43 5.125.594.115.Consolidated Profit and Loss Account for the year ended March 31.43 232.07 7.527.18 45.021.32) – (61.083.38) (91.053.43 72.15 8.00 (54.45 9.48 31-Mar-09 7.09) 40.80077 For and on behalf of board of directors Sd/Rohtas Goel DIN: 00003735 Chairman and Managing Director Sd/Vimal Gupta Additional Vice President (Finance & Accounts) Sd/Jai Bhagwan Goel DIN: 00075886 Director Sd/Venkat Rao Company Secretary Place: New Delhi Date: 27th May.215. No.64 507.MAT Credit Profit after tax Minority adjustment Profit after tax after minority adjustments Balance brought forward from previous year Adjustment Profit available for appropriation Appropriations Transfer to Debenture Redemption Reserve Transfer to General Reserve Balance carried to balance sheet Basic and diluted earning per share (in Rupees) Significant Accounting Policies and Notes to Accounts 22 15 16 31-Mar-10 10.91 254.92 1.K.527.58 50.07 5.

600.43 1.Consolidated schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 1: Share capital Authorised 350.00 3. 878.814.10 each Subscribed and paid up 173.500 Equity shares of Rs.65 250.000.000 (210.Non convertible debentures .389.000) Equity Shares of Rs.38 100.41 606.00 21.Non convertible debentures – 7.000.67 1.000 (173.67 Schedule 3: Secured loans Banks .520 Equity shares of Rs.00 63.81 231.735.67 8.Vehicle loans Financial institutions .46 354.271.01 13.084.208.090. 469.00 1.85 5.042.35 817.00 6.16 2.07 mio.184. General Reserve of Rs 70.06 21.36 91. 5 of schedule 22) Profit and loss account 5.Working capital loans .54 1.67 1.035.00 4.53 6.41 1.46 83.43 80 Annual Report 2009-10 .000 (Nil) Preference Shares of Rs.613.625.735.115.71 58.567.78 606.735.81 80.31 3.735.22 817.567.084.38 mio (ii) 18.082.00 3.65 1.40 8.735.000 Equity shares issued upon exercise of Green shoe option) Schedule 2: Reserves and surplus Securities premium account Debenture redemption reserve Balance at the beginning of the year Less: Withdrawn on redemption and transferred to general reserve Add: Transfer from profit and loss account Balance at the end of the year General reserve Balance at the beginning of the year Add: Transferred from debenture redemption reserve Add: Transfer from profit and loss account Balance at the end of the year Capital reserve Foreign currency translation reserve (refer note no.735.000.67 1.069. 10 each were allotted as fully paid up to public during the earlier years (including 817.55 1.735.85 1.735.79 2.67 1.00 1.38 – 375.00 9.10 each Issued 173.54 231.567. 10 each had been issued in earlier years as fully paid up bonus shares by capitalisation of Securities Premium account of Rs.19 65.67 1.10 each fully paid Of the above (i) 141.500.821.Term loans Interest accured and due .70 5.00 – 2.421.00 100.100.00 2.430.10 each 10.000) Equity Shares of Rs.67 1.05 91.100.000 (173.400.67 2.000.678.77 mio and balance in profit and loss account Rs.Term loans Interest accured and due .416.567.56 24.35 14.000) Equity Shares of Rs.67 31-Mar-09 3.000.089.089.00 2.

379.50 5.Consolidated schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 3: Secured loans (Contd.19 2.27 55.13 4.39 50.60 291.79 – 41.Non Banking Financial Company Interest accured and due .66 57.45 1.59 0.Intercorporate Loan from promoter companies (repayable on demand) (refer note 17 of schedule 22) – 100.17 217.78 289. 2010 As at March 31.70 March 31.94 58.35 Gross block of building includes Rs.09 4.75 278. 2009 Additions (For Subsidiaries acquired during the year) – 0.40 32.42 71.61 3.06 152.09 14.05 – 1.00 – 1.03 – – 2.82 500..45 60.50 159.49 5. Depreciation has been charged to Cost of construction account Profit & Loss Account 15.05 0.481.83 17.06 193.63 20.84 42.78 74.05 17.48 91.05 589.55 570.24 44.05 72.00 6.13 14.63 10.15 61.04 496.Fixed deposits from public .Transfer’ agreement.96 64. 2009 Additions (For Subsidiaries acquired during the year) – 0.728. 2009 13.Housing Finance Company Interest accured and due .04 4. 15.00 47.80 – – 0.42 1.79 2.40 94.Own .36 2.73 76.43 276.29 564.43 0.56 41.13 277.55 5.00 – 555.86 490.00 – 1.57 76.87 5.395. 31 2010 Net Block As at March 31.00 35.94 404.01 1.Deferred payment credits Interest accured and due 31-Mar-09 664.39 0.47 mio (15.83 – 0.69 273. March 31.00 641.Short term intercorporate loan Interest accured and due .97 80.) Others .10 7.71 30.60 (refer note 16 of schedule 22) Schedule 4: Unsecured loans .42 292.480.66 64.Non convertible debentures Interest accured and due .75 217.42 10.53 40.58 359.05 8.09 12.66 2.75 2.28 1.72 85.35 – 0.27 655.00 5.55 5.80 – For the year Deletions/ Adjustments As at March.43 214.001.00 – 845.03 185.79 Schedule 5 : Fixed Assets (Rupees in mio) Gross Block (At cost) Depreciation As at March 31. Annual Report 2009-10 81 .50 496.40 – – 1.80 85.90 1.92 72..19 0.21 6. 2010 As at April 1.54 – – 3.35 105.50 2.04 – 0.08 59.71 27.50 739.39 4.11 185.47 mio) which is constructed on Land belonging to a third party under ‘Build .57 0.21 45.38 1.07 18.38 19. 2009 Name of assets As at April 1.54 – Additions Deletions/ Adjustments Office buildings Plant and machinery Furniture and fixtures Vehicles Computer and printers Total (A) Intangible Assets Software Total (B) Total (A+B) Previous year Notes : 76.88 0.87 278.190.16 1.050.516.33 117.33 21.10 2.38 60.75 2.50 166.89 30. 2010 1.66 22.34 – 2.11 54.

02) 0. quoted In Mutual funds 24.28 0.94 15.01) 0.04 0. at cost In Associate companies 4.23 (0.50 0.24 (0.00 13.41 – 14.24 (0.42 6.45 0.00 13.08 82 Annual Report 2009-10 . unquoted.254.28 0.83 102.50 105.42 10.254.63 7.500) Equity shares of Omaxe Realtors Private Limited of Rs 10 each Add: Accumulated income from associates Others 1496500 (1496500) Equity shares of Delhi Stock Exchange Limited of Rs 10 each Current.13) 104.Consolidated schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 6: Investments Long term.34 16.10 each Add: Accumulated income from associates 24.76 31-Mar-09 – 0. 2010 55.354.500 (24. 2009 55.13) 104.99 112.50 105.25 167. advances and deposits Deferred tax liability Losses on account of ongoing 80IB projects On account of conversion of fixed asset into stock in trade March 31.40 0.319.83 – 65.35 14.06 84.29 0.90 – 105.687) Equity shares of Sunshine Buildtech Private Limited of Rs.70 11. 10 each – 0.04 0.99 14.50 March 31.00 8.91 65.42 Note: All the above shares/units are fully paid up Aggregate cost of unquoted investments Aggregate cost of current investments Market value of current investments Goodwill arising on consolidation of associates which is less than a mio.959 (Nil) units of Principal Mutual Fund of Rs.00 8.42 – – 1. in rupees is as follows : Name of associates Sunshine Buildtech Private Limited Omaxe Realtors Private Limited Omaxe Infrastructure and Development Private Limited Schedule 7: Deferred tax Asset / (liability) (Net) Deferred tax asset Expense allowed on payment basis Expense allowed on account of preliminary expenses Share issue expenses adjusted from securities premium account Difference between book and tax base of fixed assets Retirement benefits Provision for doubtful debts. trade. at lower of cost or market value.50 105.11 126.23 (0.687 (4.500 (23.76 0.319.79 127.500) Equity shares of Omaxe Infrastructure Development Private Limited of Rs 10 each Add: Accumulated income from associates 23.

88 22.In deposit account * # * Includes fixed deposit aggregating to Rs.43 34.137.98 28.89 16.considered doubtful Less: Provision for doubtful debts Other debts .363.26 mio (Rs.Consolidated schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 8: Inventories (as taken.91 1.596.242.804.756.22 267.121. valued and certified by the management) Building material and consumables Land * Construction work in progress Completed real estate projects * (refer note 14 of schedule 22) 31-Mar-09 648.806.45 453.68 4.37 mio)) Cheques/DD in hand Balances with scheduled banks .12 Annual Report 2009-10 83 .12 Schedule 11: Cash and bank balances Cash on hand (including stamps in hand Rs.79 304.70 30.85 53.66 34.considered good .323.497.88 625.In current account .78 6.24 656.56 301.902.70 53.12 9.243.92 37.64 16.006.In Initial public offer separate refund account .546.423.82 1.48 6.98 25.considered good 25.69 9.05 13.58 22.364.144. 853.70 Schedule 10: Sundry debtors (Unsecured considered good unless otherwise stated) Debts outstanding for a period exceeding six months .38 44.61 732.62 14.549.15 14.503.172.403.077.787.97 142. 59.046.22 952.07 mio) 80.00 1.39 30.55 2.56 mio (Rs.18 163.31 23.979.95 30. financial institutions and government authorities # Includes interest accured and due Rs.43 mio) which have been pledged with banks.13 28.52 48. 1027.218.04 7.47 77.99 Schedule 9: Projects in progress On which revenue is not recognised Cost of the projects Less: Advances received On which revenue is recognised Cost of the projects Estimated profit recognised Less: Advances received 18.85 25.67 39.53 3.453.55 3.49 1.0. Nil (Rs. 89.30 5.01 2.13 1.

81 7.Unclaimed dividend .43 198. 3674.973.41 41.29 56.Unclaimed share application money .30 mio (Rs.027.78 4.33 – 5.72 4.89 434. if and when due] .81 7.696.62 3.99 7.51 538.09 10.13 2. Small and Medium Enterprises (refer note 18 of schedule 22) .49 147.34 1. unless otherwise stated) Advances recoverable in cash or in kind or for value to be received $ .31 – 435.considered doubtful Less: Provision for doubtful advances Deposits: .48 15.39 mio) secured by Fixed Deposits * includes Rs.58 104.18 101.441. 360. considered good.28 618.06 151.38 30.98 69.484.06 147.11 20.78 44.36 205.95 mio (Rs. 2380.53 – 3.51 mio)) Book overdraft $ Advances and deposits received * Other liabilities Due to directors Interest accrued but not due on loans Investors Education and Protection Fund: [Appropriate amounts shall be transferred to Investor Education & Protection Fund.Dues to Micro.69 6.269.36 203.65 84 Annual Report 2009-10 .832.41 2.considered doubtful Less: Provision for doubtful deposits MAT credit entitlement Advance Tax (net of provision) $ refer note 13 to schedule 22 Schedule 13: Current liabilities Sundry creditors .02 505.70 – 16.Others (includes due to Government Authorities on account of development charges Rs.258.29 8.124.49 1.considered good .91 3.69 6.25 235.14 488.99 24.92 20.337.269.47 7.considered good .72 130.29 17.49 23.30 7.18 23.Consolidated schedules to the balance sheet (Rupees in mio) 31-Mar-10 Schedule 12: Loans and advances (Unsecured.22 1.464.33 20.293.82 mio) which are secured by bank guarantees Schedule 14: Provisions Taxation (net of tax payments) Fringe benefit tax (net of tax payments) Provision for unrealised profit Leave encashment Gratuity 31-Mar-09 6.11 203.Unpaid matured deposits $ Book Overdraft Rs Nil (Rs 320.464.98 1.761.15 6.62 479.

78 6.242.54 579.15 Schedule 17: Operating cost Inventory at the beginning of the year Building materials and consumables Land * Construction work in progress Completed real estate projects Projects in progress at the beginning of the year $ Add: Incurred during the year Land.79 304.28 6.on bank deposits [Tax deducted at source Rs.95 7.37 23.64 2.814.93 25.148.950. 22) Asset converted into stock Building materials Construction cost Employee cost Rates and taxes Administration cost Depreciation Power and fuel Repairs and maintenance-plant and machinery Selling cost Finance cost Less: Inventory at the close of the year Building materials and consumables Land * Construction work in progress Completed real estate projects Projects in progress at the close of the year $ * Refer note 14 to schedule 22 $ On which revenue is not recognised Note:.68 (754.00 7.97 142.323.21 64.Land inventory at the beginning of the year includes Rs.686.16 0.98 46.39 – – 0.56 4.488. 206.143.55 7.202.79 304.283.84 13.78 39.34 85 Annual Report 2009-10 .39 mio)] Dividend on current investments Profit on sale of investments in subsidiary company Liabilities no longer required written back Profit on sale of fixed assets Miscellaneous income 61.99 10.0.987.15 2.04 7.62 3.82 178.607.22 21.242.546. 3 of schedule no.04 7.571.76 155.17 33.76 0.099.61 19.87 mio on account of subsidiary companies added during the year 732.19 mio (Rs.36 134.47 260.00 2.39 44.24 308. development and other rights (refer note no.23 31-Mar-09 7.68 4.05 5.72 120.66 0.24 2.20.594.863.52 9.61 7.713.86 89.277.35 648.69 mio (Rs.139.87 16.139.99 16.48 6.10 5.99 13. 0.others [Tax deducted at source Rs.48 6.99 2.594.91 Schedule 16: Other income Interest income .46 14.618.92 15.56 301.99 326.91 369.364.30 5.357.41 2.614.10 142.Schedules to the profit and loss account (Rupees in mio) 31-Mar-10 Schedule 15: Operating income Income from real estate projects Income from construction contracts 7.62 2.267.71) 200.530. 7.70 7.66 mio)] .24 228.02 732.012.16 160.453.60 11.52 – 2.37 23.36 7.42 3.

Schedules to the profit and loss account
(Rupees in mio) 31-Mar-10 Schedule 18: Employee cost Salaries, wages, allowances and bonus (including managerial remuneration) Contribution to provident and other funds Staff welfare expenses Less: Allocated to projects 434.18 6.04 29.81 470.03 178.60 291.43 31-Mar-09 498.06 7.01 34.15 539.22 120.64 418.58

Schedule 19: Administration cost Rent Rates and taxes Insurance Repairs and maintenance - building Repairs and maintenance - others Royalty Water & Electricity charges Vehicle running and maintenance Travelling and conveyance Legal and professional charges Printing and stationery Telephone, postage and courier Donation Auditors’ remuneration Bad Debts Provision for doubtful debts, deposits and advances Share of loss under collaboration Miscellaneous expenses Less: Allocated to projects

55.11 16.95 8.30 16.17 6.92 1.00 6.17 29.68 37.74 120.21 7.30 29.84 6.56 5.12 – 11.72 – 17.04 375.83 142.92 232.91

48.40 13.90 7.77 9.65 8.06 1.00 11.92 31.88 57.70 202.21 8.44 31.49 39.22 4.82 5.71 8.27 11.66 18.00 520.10 155.84 364.26

Schedule 20: Selling cost Business promotion Rebate & discount to customers Commission Advertisement and publicity Less: Allocated to projects

61.43 234.01 151.38 68.07 514.89 260.15 254.74

110.81 17.39 172.73 154.61 455.54 326.62 128.92

Schedule 21: Finance cost Interest on - Term loans - Fixed deposits - Debentures - Others Bank charges Less: Allocated to projects

1,725.91 1.35 334.31 1,058.33 103.80 3,223.70 2,202.52 1,021.18

1,569.94 3.97 579.11 1,093.79 120.47 3,367.28 2,283.70 1,083.58

86

Annual Report 2009-10

Schedule 22: Significant Accounting Policies and Notes to Accounts Summary of Significant Accounting Policies a. Basis of preparation of financial statements The financial statements are prepared under historical cost convention on the accrual basis of accounting in accordance with the Companies Act, 1956 (“the Act”) and the Accounting Principles Generally Accepted in India (‘Indian GAAP’) and to comply with the Accounting Standards prescribed in Companies (Accounting Standard) Rules 2006 issued by the Central Government in exercise of power conferred under Section 642 (1) (a) and relevant provisions of the Act. b. Use of estimates The preparation of financial statements in conformity with the Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities on the date of the financial statements. Actual results could differ from those estimates. Any revision to accounting estimates is recognized prospectively in current and future periods. c. Principles of consolidation The consolidated financial statements relate to Omaxe Limited (‘the Parent’) and its subsidiaries (collectively referred to as ‘the Group’). The consolidated financial statements have been prepared in accordance with the principles and procedures required for the preparation and presentation of financial statements as laid down under the Accounting Standards issued by the Institute of Chartered Accountants of India. The financial statements of the Company and its subsidiaries have been combined on a line-byline basis by adding together the book values of like items of assets, liabilities, income and expenses after fully eliminating intragroup balances and transactions and resulting unrealized gain/losses. Where the cost of the investment is higher/lower than the share of equity in the subsidiary at the time of acquisition the resulting difference is treated as goodwill/capital reserve. The Group accounts for investments by the equity method of accounting where it is able to exercise significant influence over the operating and financial policies of the investee The Company’s share of profit/loss in associates is included in the profit and loss account. Inter company profits and losses have been proportionately eliminated until realized by the investor or investee. Where the cost of the investment is higher/lower than the share of equity in the associates at the time of acquisition the resulting difference is disclosed as goodwill/capital reserve in the investment schedule. The consolidated financial statements have been prepared using uniform accounting policies for like transactions and other events in similar circumstances and are presented to the extent possible, in the same manner as the Company’s separate financial statements. The Company’s interest in Jointly Controlled Entities are consolidated on a line-by-line basis by adding together the book values of assets, liabilities, income and expenses, after eliminating the unrealized profits/losses on intra-group transactions. d. Fixed assets Fixed assets are stated at historical cost less accumulated depreciation. Cost includes purchase price and all other attributable cost to bring the assets to its working condition for the intended use. e. Depreciation Depreciation on fixed assets is provided on written down value method in the manner and rates prescribed in Schedule XIV to the Companies Act, 1956 except in the case of steel shuttering and scaffolding material, which is treated as part of plant and machinery, where the estimated useful life, based on technical evaluation has been determined as five years. Cost of building constructed on land owned by third party under ‘Build Own Transfer’ agreement is amortized over the period of the agreement. f. Intangible assets Intangible assets comprising of ERP & other computer software are stated at cost of acquisition less accumulated amortization and are amortized over a period of four years on straight line method. Annual Report 2009-10 87

g.

Borrowing costs Borrowing cost that are directly attributable to the acquisition or construction of a qualifying asset (including real estate projects) are considered as part of the cost of the asset/project. All other borrowing costs are treated as period cost and charged to the profit and loss account in the year in which incurred.

h.

Impairment of assets The Group assesses at each balance sheet date whether there is any indication that an asset may be impaired. If any such indication exists, it estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable amount of the cash-generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction is treated as an impairment loss and is recognized in the profit and loss account.

i.

Investments Long-term investments are stated at cost. Provision for diminution, if any, in the value of each long-term investment is made to recognize a decline, other than of a temporary nature. Current investments are stated at lower of cost or market value.

j.

Inventories i. ii. iii. iv. Building material and consumable stores are valued at cost, which is determined on the basis of the ‘First in First out’ method. Land is valued at cost, which is determined on average method. Cost includes cost of acquisition and all related costs. Construction work in progress is valued at cost. Cost includes cost of material, services and other related overheads related to project under construction. Completed real estate project for sale and trading stock are valued at lower of cost or net realizable value. Cost includes cost of materials, services and other related overheads.

k.

Projects in progress Projects in progress is valued at cost. Cost includes cost of land, materials, construction, services, borrowing costs and other overheads relating to projects.

l.

Revenue recognition i. Real estate projects Revenue from real estate projects is recognized on the ‘Percentage of Completion method’ (POC) of accounting. Revenues under the POC method is recognized on the basis of percentage of actual costs incurred, including land, construction and development cost of projects under execution subject, to such actual cost being 30 percent or more of the total estimated cost of projects. The stage of completion under the POC method is measured on the basis of percentage that actual costs incurred on real estate projects including land, construction and development cost bears to the total estimated cost of the project. The estimates of the projected revenues, projected profits, projected costs, cost to completion and the foreseeable loss are reviewed periodically by the management and any effect of changes in estimates is recognized in the period such changes are determined. ii. iii. Interest due on delayed payments by customers is accounted on receipts basis due to uncertainty of recovery of the same. Income from construction contracts Revenue from construction contracts is recognized on the ‘Percentage of Completion method’ of accounting. Income from construction contracts is recognized by reference to the stage of completion of the contract activity as certified by the client. Revenue on account of contract variations, claims and incentives are recognized upon determination or settlement of the contract.

88

Annual Report 2009-10

it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. q. Contributions payable by the Company to the concerned government authorities in respect of provident fund. Foreign currency transactions are recorded at exchange rates prevailing on the date of respective transactions. and a reliable estimate can be made of the amount of the obligation. in substance. the intrinsic value of the options (excess of market price of the shares over the exercise price of the option) is treated as employee compensation cost and is amortised over the vesting period. Where there is a possible obligation or a present obligation that the likelihood of outflow of resources is remote. Wherever there are unabsorbed depreciation or carry forward losses under Tax laws. ii. All other foreign currency gains and losses are recognized in the profit and loss account. no provision or disclosure is made. using the tax rates and the tax laws enacted or substantially enacted as on the balance sheet date. iv. Foreign currency translation differences related to acquisition of imported fixed assets are adjusted in the carrying amount of the related fixed assets.iv. The Company is having Group Gratuity Scheme with Life Insurance Corporation of India. ii. Accounting for taxes on income i. 1961. Employee stock compensation cost In respect of stock options granted by the Company. Lease rent under operating lease are charged to profit and loss account on a straight line basis over the lease term. Provision for current tax is made based on the tax payable under the Income Tax Act. Provisions. Provision for gratuity is made based on actuarial valuation in accordance with Revised AS-15 of The Institute of Chartered Accountants of India. Retirement benefits i. v. Foreign currency transactions i. Provision for leave encashment in respect of unavailed leave standing to the credit of employees is made on actuarial basis in accordance with revised AS-15 of The Institute of Chartered Accountants of India. Current assets and current liabilities in foreign currencies existing at balance sheet date are translated at year-end rates. Dividend income is recognized when the right to receive the payment is established. family pension fund and employee state insurance are charged to the profit and loss account. iii. Deferred tax on timing differences between taxable and accounting income is accounted for. Share issue expenses Share issue expenses are adjusted against the securities premium account. n. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may. but probably will not. Income from trading sales Revenue from trading activities is accounted for on accrual basis. Annual Report 2009-10 89 . form part of company’s net investment is a nonintegral foreign operation and is accumulated in a Foreign Currency Translation Reserve in the financial statement until the disposal of net investment at which time it is recognized as income or expenses. require an outflow of resources. m. p. s. contingent liabilities and contingent assets A provision is recognized when: • • • the Group has a present obligation as a result of a past event. r. Foreign Exchange difference arising as a monetary item that. Operating lease Lease arrangements where the risk and rewards incident to ownership of an asset substantially vest with the lessor are recognized as operating lease. ii. Deferred tax assets are recognized only to the extent that there is a virtual certainty of their realization. iii. o. Deferred tax assets are recognized only when there is a reasonable certainty of their realization.

00 100.00 100.00 100.00 100.00 100.00 94.00 100.00 94.00 100.00 100.00 100.00 94.00 100. Name of Subsidiary 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Omaxe Infrastructure Limited Omaxe Housing and Developers Limited JRS Projects Private Limited Monarch Villas Private Limited JKB Constructions Private Limited Omaxe Connaught Place Mall Limited Green Planet Colonisers Private Limited Primordial Buildcon Private Limited Omaxe Buildhome Private Limited Omaxe Infotechcity Developers Limited Landlord Developers Private Limited Omaxe Infrastructure and Construction Limited Satvik Hitech Builders Private Limited Omaxe Power Private Limited S N Realtors Private Limited Finishing Touch Properties and Developers Private Limited Omaxe Rajasthan Sez Developers Limited Eden Buildcon Private Limited Omaxe Infrabuild Limited Ansh Builders Private Limited Arman Builders Private Limited Omaxe Housing Finance Limited Golden Glades Builders Private Limited Omaxe Chandigarh Extension Developers Private Limited Ekansh Buildtech Private Limited Kavya Buildtech Private Limited Oasis Township Private Limited Rohtas Holdings (Gulf) Limited Max Gulf Limited Omaxe Entertainment Limited Omtech Infrastructure and Construction Limited Navratan Techbuild Private Limited Champion Realtors Private Limited Link Infrastructure and Developers Private Limited Anjaniputra Builders Private Limited Zodiac Housing and Infrastructure Private Limited Hamara Ghar Constructions and Developers Private Limited Jewel Projects Private Limited Omaxe Buildwell Private Limited Reliable Manpower Solutions Limited Year ended March 31.00 100.00 100.80 100. 2010 100.00 100.00 100.00 100.00 100.00 100.18 90 Annual Report 2009-10 .00 100.00 100.00 100.80 99.00 100.00 94.00 100.00 100.00 100.00 100.00 94.00 94.00 100.00 100.00 100.00 100.00 100.00 100. No.00 98.00 100.00 100.00 100.67 99.00 94.00 98.00 100.00 100.00 100.00 100.00 94.00 100.80 99.00 100.00 94.00 94.Principal of consolidation The financial statements of the following subsidiaries/ joint venture entity have been consolidated as per the Accounting Standard 21 on ‘Consolidated Financial Statements’ and Accounting Standard 27 on ‘Financial Reporting of interest in Joint Venture’ issued by the Institute of Chartered Accountants of India.00 100.00 97.00 100.80 100.00 100.00 100.00 100.00 94. S.00 100.00 100.00 100.00 94.18 Year ended March 31.00 100.00 100.00 99.00 100.00 100.00 100.00 100.00 100.00 100. 2009 (% of share holding) 100.00 100.

In respect of the Group .00 – – – – – Joint Venture Entity S.73 1.00 100.00 90.2010 Claims against the Company not acknowledged as debts Bank guarantees .00 100.00 100.06 68. Disputed differential Interest Liability.00 100.00 100.00 90.00 90.02.10 8.2009) Shubh Bhumi Developers Private Limited (From 01. specific performance of certain land agreements.24 153.45 29.00 99.44 100. 2010 50.00 100.2009) Year ended March 31. 2009 51.09.00 100.00 100.Sales tax .00 100.47 182.In respect of others Disputed tax amounts .00 100. 2010 51. etc.09.00 100.Income tax Writ Petition filed by Income Tax Department against order of settlement commission before Delhi High Court.00 100.382.10 Nil Amount unascertainable 7.00 51. 1 Omaxe Azorim Developers Private Limited Year ended March 31.00 100.09.00 100.64 Amount unascertainable 15. Name of joint venture entity No.96 Not quantifiable Annual Report 2009-10 91 .2010) Vimvin Realtors Private Limited (From 01.00 100.00 100.00 100.00 100.2009) Omaxe Housing And Infrastructure Limited (From 01.00 100.36 29.50 100. No.00 100. 2009 (% of ownership interest) 50. Contingent liabilities not provided for in respect of: Year ended March 31.690.00 51.00 51.09 1.00 100.00 100.2009) Sanvim Developers Private Limited (From 01.Service tax .00 Notes to Accounts 1. 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 Name of Subsidiary Rivaj infratech Private Limited Garv Buildtech Private Limited Pancham Realcon Private Limited Oasis Suncity Realtors Private Limited First Promoters and Developers Private Limited RPS Suncity Promoters and Developers Private Limited Sri Balaji Green Heights Private Limited Volvo Properties Private Limited Silver Peak Township Private Limited Radiance Housing and Properties Private Limited Ashray Infrabuild Private Limited Aarzoo Technobuild Private Limited Hiresh Builders Private Limited Bhanu Infrabuild Private Limited Abheek Builders Private Limited Aditya Realtech Private Limited Aadhira Developers Private Limited (From 01. and disputed by the Company 103.00 Year ended March 31.09.00 Year ended March 31.S.00 51.2009 61.00 100.00 90.20 Not quantifiable (Rupees in mio) Year ended March 31.00 100. Certain civil cases preferred against the Company in respect of labour laws.00 100.

6.. 21.49 mio) is lying in the separate bank account of the company.66 mio is liable to be forfeited and interest/ penal interest due on deferred liability is to be waived.03 mio on construction. Similarly.e. 182. and advances given and received are taken as shown by the books of accounts.2010 amounting to Rs.03. Such amount aggregating to Rs. Till 31. 8.43 mio (Rs.01. 3. 88.04 mio.2010 has incurred a sum of Rs. Greater Noida. In accordance with the said approval. The Company till 31. a sum of Rs. Pending approval as aforesaid and looking to general global recession in real estate sector particularly in Gulf Region.01. 88. 259. The management of the Company is quite hopeful of revival in Gulf markets and shall initiate further suitable action in the matter. The Management of the company / wholly owned subsidiary company/SPV has applied to concerned authority/agency for in principle approval for transfer of controlling interest in such SPV in its favour. further installments to such concerned authority/agency which has been demanded are yet to be paid. no impact on account of concession/waivers under the said notification has been given in the accounts. 92 .266.03.98 mio to one of its wholly owned Subsidiary Company incorporated outside India namely Rohtas Holding (Gulf) Limited (RHGL) which has been considered as net investment in foreign operations. as per the Subscription and Shareholding Agreement entered into between the Company and Azorim International Holding Ltd.05.17 mio has been allocated to the residual project in progress.212. out of premium amount of Rs. The said amount has also been shown as “Unclaimed share application money” in Schedule No. The balance of said sundry debtors. Rs. 3.95 mio. 5.49 mio) is outstanding to be refunded to the applicants who were not/ partly allotted the shares in initial public offer. 372. advances received are subject to reconciliation and confirmation from respective parties. Current assets. The Company had granted an interest free loan of Rs. 1. This has resulted in showing Project-in-Progress and current liabilities higher by Rs.08 mio has only been raised. the total marketing cost incurred by the Company under such marketing service agreement amounts to Rs. due and outstanding.295 square meter Land (out of 202. therefore. 9. in which company is having substantial influence/ control for carrying out real estate projects outside India. The Company has applied to the Authority for deferment in payment schedule under notification dated 06. out of which invoice worth Rs.2010. 126.2009 as amended by notification dated 25. sundry creditors. sundry creditors. 2010. As on 31st March. (JV Partner) and Joint Venture Company.2009. These estimates being of a technical nature have been relied upon by the auditors. interest / penal interest on such deferred payment liability upto 31st March. Determination of revenues under ‘Percentage of Completion method’ necessarily involves making estimates by management for percentage of completion.03. marketing costs incurred by the Company are to be reimbursed by such Joint venture Company. 527. to Greater Noida Industrial Development Authority (‘the Authority’) under notification dated 06. 10% amount i.66 mio and Stamp duty and lease rent charges pertaining to surrendered land amounting to Rs.20 mio.352 square meter earlier alloted ) located at GH-II Sector-MU. This does not include any amount. 4. 126.73 mio has been adjusted to residual stock of project in progress. 1956. also. Pending approval. The ultimate outcome of such reconciliation and confirmation cannot presently be determined. Accordingly pending execution of surrender deed with the authority and release of charge registered with the lending bank. the wholly owned subsidiary company (RHGL). 3. administrative and other related cost which was to be reimbursed from such Joint Venture Company.10. The Company has not yet raised debit note on such Joint Venture Company accordingly. Further. advances given. 1.2010 is higher by Rs. has in turn given such loan amount to two companies (SPV’s) incorporated outside India namely Marine Sands Ltd. construction. 112. The transfer of holding in these two SPV’s has still to be acquired/ effected by the Company / wholly owned subsidiary company with the approval of concerned authority/agency which is awaited. Project-in-Progress as at 31. As per Marketing Service Agreement entered into between the Company and Omaxe Azorim Developers Private Limited (Joint Venture Company). to be credited to the Investor Education and Protection Fund as per the provisions of the Companies Act. During the year. cost to completion.2010. accordingly. The Company is developing real estate projects on land allotted by Greater Noida Industrial Development Authority and Noida Industrial Development Authority (“The Authority”) on deferred payment liability basis. exchange difference being the difference between exchange rate as on date on which such loan was granted and the exchange rate on Balance Sheet date as at 31. administrative and other related costs incurred by the Company on the project undertaken by such Joint Venture Company will be reimbursed by Joint Venture Company to the Company. Annual Report 2009-10 3. the financial impact of which is unascertainable due to the reasons as above stated.03. 91. revenues expected from projects.61 mio paid to the authority. Balances of some of the sundry debtors. 7. loans and advances have a value on realization which in the ordinary course of the business would not be less than the amount at which they are stated in the balance sheet and the provisions for all known and determined liabilities are adequate and not in excess of the amount reasonably required. 3. the deferred payment liability as well as land stock has been reduced by Rs.75 mio) has been considered and accumulated as “Foreign Currency Translation Reserve”. and Golden Crescent Red & General Trading Ltd.2009 of the Authority.04 mio.22 mio (Rs. under the memorandum of understanding. 2009 amounting to Rs.2. which has duly been approved by the authority vide letter dated 18. projected profits and foreseeable loss. The forfeited amount of Rs. no provision for any liability that may result out of such reconciliation and confirmation has been made in the financial statement. 13. the company has applied for surrendering 109.22 mio (Rs. 266.

[Amount repayable within one year Rs. 332.10. 5. 42. profits and cost to completion are subject to adjustments.91 mio) is secured by equitable mortgage of project properties referred in note 14 above and corporate guarantees provided by such group companies and wholly owned subsidiary company as applicable. Annual Report 2009-10 93 . which would be adjusted on disposal of representation so made by the Company. Income Tax Department has filed writ petition against the order of settlement commission before Hon’ble High Court of Delhi and is pending before it. Subsequently. 235. [Amount repayable within one year Rs.33 mio has been written back.60 mio (Rs. c) Term loans from banks aggregating to Rs. The Income Tax Assessment of the Company has been completed up to Financial Year 2006-07 (Assessment Year 2007-08). 12.4. Secured loans a) Term loans from banks aggregating to Rs.629.60 mio) is secured by equitable mortgage of project properties of subsidiary. 2007.60 mio)] Term loans from banks are further secured by personal guarantee of one director of the Company. accordingly excess provision for tax made in earlier years amounting to Rs. 1961 (“The Act”). 13. Stock options schemes OMAXE ESOP PLAN BETA The Company has adopted Omaxe ESOP Plan Beta in the Annual General Meeting held on September 27. 6. 4. 647.30 mio) and projects in progress include cost of land of Rs. Nil)] Term loans from banks are further secured by personal guarantee of two directors of the Company.670. accordingly.87 mio (Rs. which has been protested by the Company. the income tax liability.36 mio (Rs. 278. the projections of revenues.78 mio) being consideration paid for Group’s share of land. the Company filed an application with Income tax settlement commission on 31st May. 332.2008 had accepted the aforesaid income so offered amounting to Rs. either on collaboration basis or selfdevelopment basis. As the matter is sub-judice. 2.60 mio and allowed the Company to capitalize a sum of Rs.509. [Amount repayable within one year Rs.30 mio) is secured by equitable mortgage of project properties and all present and future construction and development work thereon as applicable. Advances include advances against collaboration amounting to Rs. 1. b) Term loans from banks aggregating to Rs. pending completion of block assessment proceedings.00 mio (Rs. 15. profits and cost to completion of the group housing projects / development has not been revised based on sales price so fixed. 14.2. As per terms of the licenses of certain group housing and/or township projects executed by the Company in the state of Haryana. Subsequently. Accordingly.48 mio) paid to certain parties(including associates and related parties) for acquiring land for development of real estate projects.03.95 mio (Rs.452.622. the Company is required to construct residential units/ develop plots for economically weaker sections on specified area of land.278. treatment was effected in books of account for the year ended 31st March. if any. projection of revenues.662. 11.43 mio (Rs. Inventories include land of Rs.169.886.704. which is in its possession for development of real estate projects in terms of the collaboration arrangements with subsidiaries/ associate companies/ related parties/third parties.33 mio (Rs. 2008. The sale price of such units/plots which was to be fixed by the government authorities has since been fixed during the year under review. The total number of options available in the plan is 3% of the total paid up equity capital of the Company. 223. 3.337.60 mio relating to the accounting year 1999-2000 to 2005-06. 5. on this account shall be provided for in the year in which final decision is made by such Hon’ble court. Pending final outcome. The ultimate effect of Advance tax and Provision for tax up to Assessment Year 2007-08 has been given impact in the accounts. 3. During the year 2005-06 the Company was subjected to search under section 132 of Income Tax Act. 2007 for settlement of cases under section 245 C (i) of the Act relating to the financial year 1999-2000 to 2005-06 and offered an aggregate income of Rs.211.00 mio towards land and development cost of various projects. 332.16 mio (Rs. The Income Tax Settlement Commission vide its order dated 27. No options have been granted till date. 3. 75. 16.60 (Rs. associate and other company.30 mio)] Term loans from banks are further secured by personal guarantee of two directors of the Company.

These debentures were issued to a mutual fund. payable on monthly basis on 1st of every month.10 mio each carrying a interest rate of 14. 2. 604. associate and other company.56 mio) is secured by first charge on current assets of the Company including stock at site.00 mio (Rs. 1. payable on monthly basis on 1st of every month. 664.00 mio (Rs. g) h) Vehicle loans aggregating to Rs. 192.678. These debentures were issued to a Bank.10 mio each were carrying a interest rate of 14.00 mio (Rs. 350 mio (Rs. [Amount repayable within one year Rs. f) Term loan from banks aggregating to Rs. 180 mio)] 94 Annual Report 2009-10 . 180 mio) Non convertible redeemable debentures of Rs. 422.00 mio (Rs. Series J: Rs. 110. [Amount repayable within one year Rs. 400 mio) Non convertible redeemable debentures of Rs.d) Term loans from Financial Institutions aggregating to Rs. 27. The said debentures were listed on the Bombay Stock Exchange.95%. These debentures are issued to a mutual fund. 300 mio (Rs. plant and machinery and mortgage of certain land of the Company. The said debentures were secured by first mortgage and charge of pari-passu basis on entire project assets of ‘Omaxe Citadel’ and other property of the company so as to maintain a minimum FACR of 1.10 mio each carrying a interest rate of 13. These debentures are issued to a mutual fund.40 mio (Rs. 9.50 times throughout the currency of the debenture and were further secured by personal guarantee of two directors of the Company and corporate guarantees of promoter companies. 300 mio) Non convertible redeemable debentures ofRs. Above term loans and working capital loans are further secured by personal guarantee of two directors of the Company. 138.00 mio) is secured by equitable mortgage of project land of the subsidiary and associate company. [Amount repayable within one year Rs. 2. 1.00%. These debentures are issued to a mutual Fund. Nil mio (Rs. 650 mio (Rs.00 mio) is secured by equitable mortgage of project land of wholly owned subsidiary company. Nil (Rs. Nil (Rs.00 mio (Rs.001.33 mio (Rs. 223. 1.83 mio (Rs. receivables. 600 mio) Non convertible redeemable debentures of Rs. 192.95%.75% payable on monthly basis. 2.21 mio (Rs.57 mio)] Term loans from housing finance companies aggregating to Rs.00%. i) j) k) Non convertible redeemable debentures I i) ii) iii) Series G: Rs.00)] Term loans from financial institutions are further secured by personal guarantee of one director of the Company.09 mio (Rs. 250 mio) Non convertible redeemable debentures of Rs. 400 mio (Rs.00 mio) is secured by equitable mortgage of project properties & charge over cash flow and are further secured by personal guarantee of two directors of the Company. associate and other company. 17.67 mio) are secured by hypothecation of the vehicles purchased there against. [Amount repayable within one year Rs. Nil) is secured by equitable mortgage of project land of wholly owned subsidiary company. The said debentures are secured by equitable mortgage of land situated at Gujarat.10 mio each carrying a interest rate of 13. 845.208. 500 mio)] The said debentures are secured by equitable mortgage of land situated at Gujarat and further secured by personal guarantee of a director of the Company. e) Term loan from Financial Institution aggregating to Rs.625. 24. Nil (Rs. 496. Series G: Rs. Nil (Rs.43 mio)] Term loans from Non Banking Financial Company aggregating to Rs. 196.10 mio each were carrying a interest rate of 13. [Amount repayable within one year Rs. Nil)] Term loan from financial institution are further secured by personal guarantee of two director of the Company. 6. payable on monthly basis on 1st of every month. [Amount repayable within one year Rs.50 mio)] Working capital loans of Rs. II Series F: Rs.40 mio (Rs.00 mio (Rs. Series K: Rs.13 mio)] Term loans from housing finance companies are further secured by personal guarantee of two directors of the Company. [Amount repayable within one year Rs. [Amount repayable within one year Rs.000.90 mio) is secured by equitable mortgage of project properties owned by collaborator. 739. 250 mio)] III.400. [Amount repayable within one year Rs.

555. N.00 mio (Rs.A.516.000 Ordinary Equity Shares & Azorim holds 500.passu rights in all respects including Voting Rights. proportionate consolidation method has been adopted. [Amount repayable within one year: Repayable on demand] c) 18.10 mio each carrying a interest rate of 12%.88 15. Since company share in assets and liabilities in such Joint Venture Company has reduced to zero. N. In terms of the Subscription & Shareholder Agreement & Amendment thereof. 1000.00.27 mio (Rs. Small and Medium Enterprises Development Act. Further.78 mio) represents cost of project land acquired from government development authorities on installment payment basis and is secured by mortgage of the related project land. Inter corporate loans of Rs.A. However.A. 6311 Equity Class B Shares and 189 Equity Class C Shares having pari .000 mio)] l) Deferred payment credit of Rs. Series L: Rs. liabilities.00 Profit after tax (1. N.516. disclosures relating to amounts unpaid as at the year end together with interest paid / payable under this Act has not been given. the effect of transactions between the Company and the joint venture) related to its interests in this joint venture based on un-audited results are given here under: (Rupees in mio) Year ended Year ended March 31. [Amount repayable within one year Rs.220 Class C Preference shares. 2011.A. Short term inter corporate loan aggregating to Rs. Interest in Joint Venture The Company entered into a 50 : 50 Joint Venture in Omaxe Azorim Developers Private Ltd (incorporated in India) with M/s Azorim International Holdings Limited (Azorim) for development of the Real Estate Project in India. Company holds 10. the Company’s share of each of the assets. 500 mio) from promoter companies.A. share in profit and loss item is considered @ 50:50 (previous year 50:50). N. Apart from the above Azorim has also been issued Differential Equity constituting 2410 Equity Class A Shares.82 mio)] 17. 55. 100. Small Scale Business Entities The Company has not received information from vendors regarding their status under the Micro. 19. 1.00 0. N. No provision for diminution in value of investment in Joint Venture Company has been made. The said debentures are secured by equitable mortgage of land situated at Gujarat and further secured by personal guarantee of a director of the Company.267.45 Provision for tax 0.00 mio)] Short term inter corporate loan are secured by shares of the company held by promoter. Deferred tax assets N.728. 80.A.000 Ordinary Equity Shares having pari .47 0.09) (15.58 mio (Rs. as such diminution is of temporary in nature.58 mio (Rs. Loans and advances N. 100.00 mio) [Amount repayable within one year Rs. As per revised terms these debentures are redeemable in twelve installments commencing from 30th April. 2006 and.43 Administration cost 0. hence. 1000.A. Unsecured loan a) b) Fixed deposit from public [Amount repayable within one year Rs. 2009 Project in progress N.00 (Rs. 2010 March 31. 1.passu right in every respect with the Ordinary Equity Shares excepting the Superior dividend right and preferential right to distribution on liquidation.62) Annual Report 2009-10 95 .A.97 mio). Cash and bank balances N. [Amount repayable within one year Rs. Profit & loss account (debit balance) N. 80. Micro. 2. Azorim also holds 500.000 Superior Equity Shares having pari . 1.59 Finance cost 0. etc. These debentures were issued to a mutual fund and later on transferred to LIC of India. Other income 0. The Company’s interest in the Joint Venture is reported as Long term Investment (Schedule 6) and stated at cost.A. Current Liabilities N. no such consolidation of assets and liabilities has been made in Company Financial Statement. (each after elimination of.A. 2.00 mio (Rs. Nil (Rs.passu right in all respect except nil voting rights and nil rights towards Dividend and 2.A.IV. N. However.68 0. for the purposes of Company’s share in assets and liabilities. Accordingly. income and expenses. Nil (Rs.A.00 mio) Non convertible redeemable debentures of Rs.

53 1.88 mio failing which the entire booking amount was liable to be forfeited. i) Amount recognized in Profit & Loss account is as under: (Rupees in mio) Description Current service cost Interest cost Expected return on planned assets Net actuarial (gain) / loss recognized during the year Total ii) Movement in the liability recognized in Balance Sheet is as under: (Rupees in mio) Description Present value of obligation at the beginning of the year Current service cost Interest cost Benefit paid Actuarial (gain) / loss on obligation Present value of obligation as at the end of year iii) Net assets / liability recognized in Balance Sheet as at 31st March. 2009 21.57 5.07 Year ended March 31.65 (2. Since the matter is sub-judice. 2009 5. additional liability (Net of tax) under new method as at 1st April 2007 as compared to liability provided in the pre revised AS-15 is adjusted against the opening balance of Profit & Loss account. The subsidiary company has filed a writ petition before Hon’ble Andhra High Court against letter of HMDA giving final notice to remit balance consideration or forfeiture of the booking amount.20. 2010 6. The company has advanced a sum of Rs. 2010 21.08) (2.02 Year ended March 31.25 mio.69) 0. Gratuity In accordance with the transitional provisions of Revised AS-15.16 96 Annual Report 2009-10 . 2010: (Rupees in mio) Description Present value of obligation as at the end of the year Fair value of plan assets as at the end of the year (Assets)/Liabilities recognized in the Balance Sheet Year ended March 31.58 (1.03 1.07 0.45) (2.93 20.58 (0.65 (0.33) (6.24) 5. Employee Benefit A.53 1.03 1. 21. The said subsidiary company participated in bid in respect of auction by HMDA and paid initial deposit of Rs 750.92 mio to one of its wholly owned subsidiary company namely Eden Buildcon Private Limited (hereinafter referred to as “Subsidiary Company”) for acquiring land from Hyderabad Metropolitan Development Authority (HMDA)for real estate projects. HMDA asserted that there is no legal impediment for transferring the title of the land and directed the subsidiary company to remit the balance sales consideration. 2009 23. The subsidiary company applied to HMDA for refund of the initial booking amount.29 Year ended March 31.96 24. the subsidiary company requested HMDA to obtain necessary orders from the court empowering HMDA to alienate the auction land and also expressed its honest intention to pay the balance cost of land.07 6.91) (6. During the process of verifying the title to the auction land post auction.25) 24. 2010 24.2251.14 Year ended March 31.98 0. amount advanced by the company to subsidiary company is considered good.63 mio against total value of Rs 3000.77) 21.744.98 Year ended March 31. Thereafter. the subsidiary company on scrutiny of documents found that the auction land is the subject matter of pending litigations before Hon’ble Andhra Pradesh High Court. The request for such refund was not considered by HMDA and demanded balance amount of Rs. The Company is having group gratuity scheme with LIC of India. The subsidiary company has since obtained an interim order in the said writ petition wherein Hon’ble High Court of Andhra Pradesh has ordered for interim suspension of the operation of the aforesaid letter.

2009 17.19 (5.93 0.25 (3. 2010 30.99 Year ended March 31. 2010 0.30 10.32 0.iv) Changes in fair value of plan assets (Rupees in mio) Description Fair value of plan assets at the beginning of the year Expected return on plan assets Contribution Benefit paid out of plan assets Actuarial gain\ (loss) on plan assets Fair value of plan assets at the end of the year Year ended March 31.96 Year ended March 31.17) 5.00 (2. 2009 3.33 1.25 1.02) 0.06) (0.65 5.28 16.00% Projected unit credit actuarial method Year ended March 31.59 0.11) 5.15% Projected unit credit actuarial method . i) Amount recognized in Profit & Loss account is as under:(Rupees in mio) Description Current service cost Interest cost Net actuarial (gain)/loss recognized during the year Recognized in Profit & Loss account ii) Amount recognized in the Balance Sheet as at 31st March.91) (0.65 7.99 Year ended March 31.33 Annual Report 2009-10 97 Year ended March 31. 2009 7.00% 4. 2009 9.99 Year ended March 31.15 12.00% 9.93 For determination of gratuity liability of the Company the following actuarial assumption were used. Leave Encashment Provision for leave encashment in respect of unavailed leaves standing to the credit of employees is made on actuarial basis.33 Year ended March 31.28 30.08) 0. The Company does not maintain any fund to pay for leave encashment.50% 9. 2010 17.33 0. Description Discount rate Future salary increase Expected rate of return on planned assets Method used B.03 (1.28 17.00% 5. 2010 7. 2010: (Rupees in mio) Description Present value of obligation at the end of the year iii) Movement in the liability recognized in Balance Sheet is as under: (Rupees in mio) Description Present value of obligation at the beginning of the year Interest cost Current service cost Benefit paid Actuarial (gain)/loss on obligation Present value of obligation at the end of the year Year ended March 31. 2010 10.83 Year ended March 31.08 1.19 0. 2009 7.30 5.

000 173. 2010 1.000 Year ended March 31. 2009 7.92 10. 2010 – Year ended March 31.23 467.000 10 2.41 2.567. 2010 35.50% Projected unit credit actuarial method C. the Company has used the following actuarial assumption. Provision Act.00% Project unit credit actuarial method Year ended March 31.00% 5.For determination of liability in respect of leave encashment.79 Year ended March 31. 22.567.01 3.86 20. 2010 2.00% 4. 2010 7.000 173. This is post employment benefit and is in the nature of defined contribution plan. Provident Fund The Company makes contribution to statutory provident fund in accordance with Employees Provident Fund and Misc. 2009 6.10 0. Earning per share Particulars Profit after tax (Rupees in mio) Numerator used for calculating basic and diluted earning per share (Rupees in mio) Equity shares outstanding as at the year end Weighted average number of shares used as denominator for calculating . C.69 98 Annual Report 2009-10 .567.F.48 Year ended March 31.23 173.567.000 173.05 10 6. Earnings in foreign currency (Rupees in mio) Particulars Receipts against booking of units in 'Real Estate Projects' 24. Expenditure in foreign currency (Rupees in mio) Particulars Foreign travel Consultancy charges Others Total 25.I. 2009 467.567.125. 2009 43.39 Year ended March 31.125.65 Year ended March 31. 2009 45.43 173. 1952.43 1.) Basic and diluted earning per share (Rs.basic and diluted earnings per share Nominal value per share (Rs. value of imports (Rupees in mio) Particulars Purchase of material Year ended March 31. Description Discount rate Future salary increase Actuarial method used Year ended March 31.97 5.48 Year ended March 31.) 23.

57 0.80 – – 0. 2009 4.11 mio (Rs. 2010 for all the contracts in progress The amount of customer advances outstanding for contracts in progress as at March 31.00 139. 2003:(Rupees in mio) Particulars Contract revenue recognised as revenue for the year ended March. The Company has taken on non-cancellation operating lease certain premises. construction.09 485. in respect of contracts entered into on or after April 1. the Company has structured its operations into the following segments: Real estate Promotion.99 Year ended March 31. 2010 0. Segment information Business segments Based on similarity of activities/products.40 mio). 2010 4. 2010 The amount of retentions due from customers for contracts in progress as at March 31. 2010 Aggregate amount of contract costs incurred and recognised profits (less recognised losses) upto March 31. 2010 2.587.60 224. residential. There are no exceptional/ restrictive covenants in the lease agreement.55 4. risk and reward structure.12 Year ended March 31.00* – – 0. 960.50 396.55 5. Lease a. c.54 – 29. developed plots etc.89 – 331. 2010 Gross amount due from customers including work in progress for contracts in progress as at March 31. Lease rent expenses in respect of operating lease debited to profit and loss account Rs. The lease agreements provide for an option to the Company to renew the lease period at the end of the non-cancellation period.26. 2009 369.82 27. organization structure and internal reporting system. Auditors' remuneration (Rupees in mio) Particulars Audit fees Tax audit fees Total Year ended March 31.00 Year ended March 31. Year ended March 31. 2010 are as follows:(Rupees in mio) Minimum lease payments i) Payable not later than one year ii) Payable later than one year and not later than five years iii) Payable later than five years Total * Amount is Rs. commercial property. 2010 Gross amount due to customers for contracts in progress as at March 31. 2010 28. 2009 0. Disclosure in accordance with Accounting Standard -7 (Revised).00 b.00 2. Annual Report 2009-10 99 .27 0.39 19. development and sale of townships. The future minimum lease payments in respect of which as at March 31.38 118. Construction Construction of property on behalf of clients.148. 55.80 Year ended March 31. 48.

229.66 – The trading business which was not reportable segment during the year have been grouped under the "Others" segment.012.643.27 99.31) (179. 100 Annual Report 2009-10 .873.125.125.44 8.23 2.31) – – – – – – – – – – – – – – – – Total 10.Real Estate REVENUE External revenue Inter Segment Revenue Total revenue SEGMENT RESULT Unallocated corporate expenses net of unallocated income Operating profit Less: Interest expenses Add: Interest income Less: Income taxes (including prior year tax adjustment) Profit after tax (before adjustment for minority interest) Add: Share of (profit)/loss transferred to minority Profit after tax (after adjustment for minority interest) OTHER INFORMATION Segment assets Unallocated corporate assets TOTAL ASSETS Segment liabilities Unallocated corporate liabilities TOTAL LIABILITIES Capital expenditure Depreciation/ amortisation Non cash expenses other than depreciation/ amortisation – – – 7.99 80.04 – – – – Others – 99.24 2.53 – – – – – – – – Construction 2.04 2.745.36 769. for reporting as geographic segments.17 (91. under the criteria set out under Accounting Standard 17 on 'Segment reporting' issued by The Institute of Chartered Accountants of India.202.23 – 10.863.021.03 211.11) 1.148.012.66 3.27 – – – – – – – – – – – – – – – – Eliminations – (179.24 – 7.160.54 60.32 – 38.838. Geographic segment Operations of the Company do not qualify.23) 1.433.321.Accounting standard for Segment Reporting.17 790. Segment Reporting for the previous year has not been given as the segment namely construction activity does not qualify the threshold limit as per AS-17.61 74.84 – 7.64 – – – – – – – – 964.54 (0.533.85 1.954.25 9.863.43 39.82 – 790.32 1.18 101.78 43.

Realcon Private Limited Omaxe Hotels Limited Mangal Bhumi Properties Private Limited Renown Estate Developers Private Limited Milestone Township Private Limited Luxury Township Private Limited Udal Properties Private Limited Omaxe Housing and Commercial Projects Limited (Formerly Omaxe Township Ltd. I Name of Company 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 Deepsing Realtors Private Limited Deejit Developers Private Limited Parjit Realtors Private Limited Garg and Goel Estate Developers Private Limited VGSG Realtors Private Limited Vingar Developers Private Limited Garg Realtors Private Limited Manprav Developers Private Limited Raveendeep Colonisers Private Limited Devgar Estate Developers Private Limited Jitenjay Realtors Private Limited Derwal Realtors Private Limited Manwal Colonisers Private Limited Saamit Realtors Private Limited Savin Realtors Private Limited Mankish Colonisers Private Limited Gaamit Realtors Private Limited Jai Dev Colonisers Private Limited Sanya Realtors Private Limited Kishordeep Realtors Private Limited Indrasan Developers Private Limited Avindra Estate Developers Private Limited Garvish Realtors Private Limited Laldeep Realtors Private Limited Sanjit Realtors Private Limited Sankalp Realtors Private Limited Source Developers Private Limited Sandeep Township Private Limited Sandeep Landcon Private Limited Amit Landcon Private Limited Praveen Mehta Builders Private Limited Amit Jain Builders Private Limited Shiv Kripa Build Home Private Limited Krishan Kripa Buildcon Private Limited Praveen Buildcon Private Limited Motto Developers Private Limited New Horizons Township Developers Private Limited Spike Developers Private Limited Shantiniwas Developers Private Limited Starshine Realtors Private Limited Deepal Township Private Limited Sunview Township Private Limited Swapan Sunder Township Developers Private Limited Bharatbhoomi Township Limited Jai Bhoomi Projects Limited J. Related parties disclosures S.) ASSOCIATES 1 2 3 Sunshine Buildtech Private Limited Omaxe Realtors Private Limited Omaxe Infrastructure Development Private Limited II Entities over which key managerial personnel or their relatives exercises significant influence 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 Guild Builders Private Limited Buildwell Builders Private Limited Examo Estate Management Private Limited Axeom Advertising Solutions Limited Uppal Resorts Private Limited Constellation Capital Limited S A Finvest Limited Kautilya Monetary Services Private Limited B D Agarwal Securities Private Limited Goel Isha Colonisers Private Limited Dream Home Developers Private Limited Hansa Properties Private Limited Rocky Valley Resorts Private Limited P N Buildcon Private Limited NAJ Builders Private Limited Ramniya Estate Developers Private Limited Neegar Developers Private Limited Green Earth Promoters Private Limited M I J Infrastructure Private Limited Sumedha Builders Private Limited NJS Developers Private Limited SNJ Builders Private Limited VSG Builders Private Limited Mangla Villas Private Limited Vimsan Realtors Private Limited PSJ Developers Private Limited DVM Realtors Private Limited True Dreams Developers Private Limited Dream Techno Build Private Limited True Villas Developers Private Limited Starex Projects Private Limited True Gem Tech Developers Private Limited Green Tech Tower Builders Private Limited Naptune Technobuild Projects Private Limited True Estate Build Developers Private Limited Dream Towers Private Limited Ananddeep Realtors Private Limited Vineera Colonisers Private Limited Deepaalay Realtors Private Limited Deepsan Realtors Private Limited Naveenraj Realtors Private Limited Jivish Colonisers Private Limited Sangupt Developers Private Limited Veenish Realtors Private Limited Singdeep Estate Developers Private Limited Annay Realtors Private Limited Annual Report 2009-10 101 .No.30. B.

100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 Lavanya Builders Private Limited Amod Builders Private Limited Advay Properties Private Limited Agasthya Properties Private Limited Advaita Properties Private Limited Amshul Developers Private Limited Alpesh Builders Private Limited Daksh Township Private Limited Pearl Peak Landbase Private Limited Superior Landbase Private Limited Sentinent Properties Private Limited Fragrance Housing And Properties Private Limited Beautiful Landbase Private Limited Paradise On Earth Properties Private Limited Forever Housing and Properties Private Limited Sapphire Township and Developers Private Limited Shining Home Infrastructure Private Limited Sunlife Properties Private Limited Interactive Buildtech Private Limited Rockyard Properties Private Limited Stronghold Properties Private Limited Sunrise Township Private Limited Absolute Infrastructure Private Limited Distinctive Infrastructure And Construction Private Limited Miniature Township And Properties Private Limited JSM Enterprises Private Limited Lifestyle Township Private Limited Omaxe Pragati Maidan Exhibition Limited Desire Housing and Construction Private Limited Stepping Stone Buildhome Private Limited Smart Buildhome Private Limited Swarn Bhumi Buildhome Private Limited Versatile Buildhome Private Limited Swarg Sukh Buildhome Private Limited Fast Track Buildcon Private Limited Blossom Buildhome Private Limited KBM Constructions Private Limited The International Omaxe Construction Limited Omaxe Orissa Developers Limited Glamour Hotels Private Limited Starshine Hotels Private Limited Hitech Hotels Private Limited Puru Builders Private Limited Hriday Hitech Builders Private Limited Prabal Developers Private Limited Navadip Developers Private Limited Vaibhav Technobuild Private Limited Nikunj Infrabuild Private Limited Aanchal Infrabuild Private Limited Fragrance Information And Communication Technologies Private Limited Omaxe Affordable Homes Private Limited Bhargav Builders Private Limited Arhant Infrabuild Private Limited 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 Bandhu Buildtech Private Limited Basant Infrabuild Private Limited Bhuvan Buildtech Private Limited Avtar Infrabuild Private Limited Badal Developers Private Limited Banke Builders Private Limited Aviral Buildtech Private Limited Arjit Builders Private Limited Omaxe Punjab Affordable Housing Private Limited Omaxe Uttar Pradesh Affordable Housing Private Limited Omaxe Rajasthan Affordable Housing Private Limited Omaxe Bihar Affordable Housing Private Limited Omaxe Madhya Pradesh Affordable Housing Private Limited Daksh Airport Developers Private Limited Megh Airways Private Limited Mohak Tours And Travels Private Limited Rahi Transport Private Limited Caleen Hotels Private Limited Omaxe Chhattisgarh Affordable Housing Private Limited Manik Buildcon Private Limited Kartik Buildhome Private Limited Lohith Developers Private Limited Jishnu Buildcon Private Limited Bhavesh Buildcon Private Limited Aric Infrabuild Private Limited Apoorva Infrabuild Private Limited Kanak Buildhome Private Limited Jayant Buildhome Private Limited Abhay Technobuild Private Limited Chirag Buildhome Private Limited Gaurang Buildcon Private Limited Girish Buildwell Private Limited Gurmeet Builders Private Limited Hemang Buildcon Private Limited Inesh Buildcon Private Limited Anant Realcon Private Limited Geet Buildhome Private Limited Mihir Buildwell Private Limited Sakal Agrotech Private Limited Dinkar Realcon Private Limited Davesh Technobuild Private Limited Sarva Buildtech Private Limited Caspian Realtors Private Limited Aashna Realcon Private Limited Chetan Infrabuild Private Limited Shashank Buildhome Private Limited Shardul Builders Private Limited Devang Builders Private Limited Manit Developers Private Limited Rohak Builders Private Limited Amber Infrabuild Private Limited 102 Annual Report 2009-10 .

204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256

Adil Developers Private Limited Kanha Logistics Private Limited Kirti Hotels Private Limited Umang Buildcon Private Limited Tushar Landcon Private Limited Taru Buildcon Private Limited Swapnil Buildhome Private Limited Snehal Buildcon Private Limited Shreyas Buildhome Private Limited Nakul Technobuild Private Limited Shalin Buildwell Private Limited Subodh Buildwell Private Limited Shikhar Landcon Private Limited Vaman Buildhome Private Limited Veer Buildhome Private Limited Amani Realcon Private Limited Ashtam Builders Private Limited Avval Builders Private Limited Balesh Technobuild Private Limited Bali Buildtech Private Limited Chaitanya Realcon Private Limited Hina Technobuild Private Limited Chapal Buildhome Private Limited Istuti Realcon Private Limited Damini Infratech Private Limited Inqalab Builders Private Limited Darpan Buildtech Private Limited Jagat Buildtech Private Limited Darsh Buildtech Private Limited Kalp Buildtech Private Limited Kashish Buildtech Private Limited Gagan Realcon Private Limited Mehboob Builders Private Limited Mehtab Infratech Private Limited Panchi Developers Private Limited Abhiman Buildtech Private Limited Adhar Buildtech Private Limited Abhas Realcon Private Limited Adesh Realcon Private Limited Aftab Developers Private Limited Anveshan Builders Private Limited Aneesh Buildtech Private Limited Meghmala Builders Private Limited Shamba Developers Private Limited Tariq Infrabuild Private Limited Vishishth Buildhome Private Limited Aradhya Real Estate Private Limited Arhan Builders Private Limited Daman Builders Private Limited Dhanu Real Estate Private Limited Ekapad Developers Private Limited. Bhanu Retail Private Limited Kamini Builders And Promoters Private Limited

257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 III

Havish Buildcon Private Limited Inesh Developers Private Limited Obalesh Buildcon Private Limited Jalesh Builders And Developers Private Limited Keshto Buildcon Private Limited Badal Impex Private Limited Omaxe Retail Limited Rupesh Infratech Private Limited Damodar Infratech Private Limited Sarthak Landcon Private Limited Ayush Landcon Private Limited Rishit Buildcon Private Limited Excellent Apartments Private Limited Natraj Colonisers Private Limited NAFHIL Gujrat Homes Limited Affordable Home Loan Advisors Private Limited National Affordable Housing and Infrastructure Limited Shrey Technobuild Private Limited Radhika Buildwell Private Limited Ramneesh Builders Private Limited Divya Buildhome Private Limited Dwarkadhish Land and Farms Private Limited Cress Propbuild Private Limited Ryhme Propbuild Private Limited Eesan Estate Developers Private Limited (Upto 09.04.2009) Vimvin Realtors Private Limited (Upto 01.09.2009) Omaxe Housing And Infrastructure Limited (Upto 01.02.2010) Aadhira Developers Private Limited (Upto 01.09.2009) Shubh Bhumi Developers Private Limited (Upto 01.09.2009) Sanvim Developers Private Limited (Upto 01.09.2009) Marine Sands Ltd. Golden Crescent Red & General Trading Ltd. Maa Omwati Education Trust Omaxe Foundation (Regd.) M/s Rohtas Goel (HUF) M/s Sunil Goel (HUF) M/s J.B. Goel & Family (HUF)

Key managerial personnel 1 2 3 Mr. Rohtas Goel Mr. Sunil Goel Mr. Jai Bhagwan Goel

IV

Relatives of Key managerial personnel 1 2 3 Mrs. Sushma Goel Mrs. Seema Goel Mrs. Rekha Goel

Annual Report 2009-10 103

Summary of related parties transactions are as under: (Rupees in mio)
S. No. Name of Transaction Associates Entities over which key managerial personnel and / or their relatives exercise significant influence Key managerial personnel Relatives of key managerial personnel Total

Transaction during the year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Land Purchases Purchases Lease rent expenses Lease rent received Donation Interest income Interest expenses Loan processing charges Dividend paid Remuneration Royalty expenses Loan received Loan paid Share application money given Guarantees given Guarantees matured Outstanding Advances and loans receivable Outstanding balances payable (including inter corporate loans) Share application money Total investments Rent security receivable Outstanding guarantees – (102.27) 20.00 (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) 0.23 (0.23) – (–) 0.53 (0.53) – (–) – (–) 106.93 (1,071.95) – (6.62) 2.40 (2.64) 0.17 (0.09) 3.87 (37.21) 1.43 (1.43) 94.07 (74.81) 7.17 (–) – (358.43) – (–) – (–) 740.00 (560.00) 684.73 (60.00) – (596.91) 48.00 (0.15) – (43.93) 844.84 (828.55) 734.52 (1,102.13) 529.18 * (596.91) – (–) 33.50 (–) 98.17 (50.17) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (22.96) 56.69 (87.10) 1.00 (1.00) – (–) – (–) – (–) – (–) – (–) – (–) 43.60 (56.43) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) – (6.00) 6.30 (–) – (–) – (–) – (–) – (–) – (–) – (–) – (–) 0.37 (0.35) – (–) – (–) – (–) – (–) 106.93 (1,174.22) 20.00 (6.62) 2.40 (2.64) 0.17 (0.09) 3.87 (37.21) 1.43 (1.43) 94.07 (74.81) 7.17 – – (387.39) 62.99 (87.10) 1.00 (1.00) 740.00 (560.00) 684.73 (60.00) – (596.91) 48.00 (0.15) – (43.93) 844.84 (828.55) 778.72 (1,159.14) 529.18 (596.91) 0.53 (0.53) 33.50 (–) 98.17 (50.17)

* Consequent to exchange fluctuation.

104 Annual Report 2009-10

Of the above items, transactions in excess of 10% of the total related party transactions are as under:(Rupees in mio)
Entities over which key managerial personnel and / or their relatives exercise significant influence Year ended March 31, 2010 – 0.13 0.20 0.06 – 32.24 29.71 16.59 20.00 0.78 0.54 1.20 0.12 0.03 2.87 1.00 0.70 0.73 55.72 36.55 7.17 – – – – – – – – – – – – Year ended March 31, 2009 – – – – 130.05 – – – 6.62 0.78 0.66 1.20 0.09 – 30.11 7.10 0.70 0.73 41.84 32.98 – – – – 87.62 87.50 43.37 82.20 – – – – – Relatives of key managerial personnel Year ended March 31, 2010 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 6.30 Year ended March 31, 2009 – – – – – – – – – – – – – – – – – – – – – – – – – – – – 5.94 – – – 6.30

S. No. Name of Related Party

Associates

Key managerial personnel Year ended March 31, 2010 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 30.18 13.56 7.50 – Year ended March 31, 2009 – – – – – – – – – – – – – – – – – – – – – 6.87 8.34 7.75 – – – – – 46.60 23.46 13.10 –

Year ended March 31, 2010 1 Land purchase Sunshine Buildtech Private Limited Guild Builders Private Limited Rocky Valley Resorts Private Limited Lavanya Builders Private Limited Kartik Buildhome Private Limited Adil Developers Private Limited Amber Infrabuild Private Limited Distinctive Infrastructure and Construction Private Limited 2 3 Purchases Omaxe Retail Limited Lease rent expenses Hansa Properties Private Limited Buildwell Builders Private Limited Dwarkadhish Farms & land Private Limited 4 Lease rent received Omaxe Retail Limited Kanha Logistics Private Limited 5 Donation Maa Omwati Education Trust Omaxe Foundation (Regd.) 6 Interest income Hansa Properties Private Limited Buildwell Builders Private Limited 7 Interest expenses S A Finvest Limited Kautilya Monetary Services Private Limited 8 9 Loan processing charges S A Finvest Limited Dividend Paid Rohtas Goel Sunil Goel Jai Bhagwan Goel Constellation Capital Limited S.A. Finvest Limited NAJ Builders Private Limited Kautilya Monetary Services Private Limited Sushma Goel 10 Remuneration Rohtas Goel Sunil Goel J.B. Goel Sushma Goel – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

Year ended March 31, 2009 102.27 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

Annual Report 2009-10 105

25 – – – – – – – 376.94 – – 14.00 – – – – – – – – – – – – – – Year ended March 31.15 352.50 5.24 0. Golden Crescent Trading & General Ltd. 2009 1.58 211.00 – – – – 256.25 – – 0. Finvest Limited Kautilya Monetary Services Private Limited 13 Loan paid S. Ltd.50 5.83 Relatives of key managerial personnel Year ended March 31.23 – – – – – – – – – 0.38 – – – – – – – – – – – – – – – – – – 0.00 14. 2010 1.00 200.02 – – – – 34.76 Year ended March 31. 2010 – – – – – – – – – – – – – – – Year ended March 31.00 256. 2010 – 500.23 – – – – – – – – – – – – – – – – – – – – – – Year ended March 31.00 11.00 11.00 45. Finvest Limited Kautilya Monetary Services Private Limited 14 Share application money given Marine Sands Ltd.00 – 203.73 260.00 – – 293. A.00 384.35 – – 14.83 348.(Rupees in mio) Entities over which key managerial personnel and / or their relatives exercise significant influence Year ended March 31.94 – – 0.24 0. 2009 – 300.00 – – – – – – – – – – – – – – Year ended March 31.00 260.00 – 5. A.10 319. 2009 – – – – – – – – – – – – – – – 0.05 16.61 195. Finvest Limited Kautilya Monetary Services Private Limited DVM Realtors Private Limited Distinctive Infrastructure and construction private limited Rohtas Goel Sunil Goel Sushma Goel 19 Share application money Marine Sands Ltd.10 0. Name of Related Party Associates Key managerial personnel Year ended March 31.00 60.97 392.48 – – – – – – – – – – – – – – – 54.07 – – – 203.10 402. 2009 – – – – – – – – – – – – – – – S.91 5. 20 Total investment Omaxe Realtors Private Limited Omaxe Infrastructure Development Private Limited 21 Rent Security receivable Hansa Properties Private Limited Buildwell Builders Private Limited Dwarkadhish Farms & land Private Limited 22 Guarantee Outstanding Ramniya Estate Developers Private Limited Milestone Township Private Limited JSM Enterprises Private Limited – – – – – – 0.37 – – – – – – – – – – – – – – – – 0.93 27. 2010 11 12 Royalty paid Rohtas Goel Loan received S. A. 16 Guarantee matured JSM Enterprises Private Limited Ramniya Estate Developers Private Limited 17 Outstanding Advances and loans receivable Arjit Builders Private Limited Bhargav Builders Private Limited 18 Outstanding balances payable (including inter corporate loans) Sunshine Buildtech Private Limited S.35 – – – – – – – – – – 106 Annual Report 2009-10 .00 – – 37.11 282.00 82.00 14.76 – – – – – 180. Absolute Infrastructure Pvt. Golden Crescent Trading & General Ltd. 15 Guarantee given Ramniya Estate Developers Private Limited Milestone Township Private Limited Omaxe Retail Ltd. No.97 392.

2010 are as under:(Rupees in mio) Particulars Capital reserve Goodwill Goodwill (Net of capital reserve) on consolidation As at March 31. 2010 54. Doogar Partner M No. 2009 54. Accordingly a sum of Rs. Previous year figures have been regrouped/reclassified where necessary to conform with current year's classification As per our audit report of even date attached For and on behalf of Doogar & Associates (Regn.86 530.94 530. 680.44 34. Based on the legal opinion obtained by the management. 33. The details of capital reserve and goodwill on consolidation as at 31st March.38 mio has been withdrawn from debenture redemption reserve earlier created.71 475.31. 32. No. During year Company has redeemed debentures of Rs. 000561N) Chartered Accountants Sd/M.K. 2010 Annual Report 2009-10 107 . 231.80077 For and on behalf of board of directors Sd/Rohtas Goel DIN: 00003735 Chairman and Managing Director Sd/Vimal Gupta Additional Vice President (Finance & Accounts) Sd/Jai Bhagwan Goel DIN: 00075886 Director Sd/Venkat Rao Company Secretary Place: New Delhi Date: 27th May.00 mio. 1956 is not applicable to the Company.78 As at March 31. the provisions of clause 3 (ii) of part II to schedule VI of the Companies Act. consequently the said details have not been given.30 475.

66 240.09 – 0.210.174.324.28 11. Cash flow from operating activities Profit for the year before tax Adjustments for : Depreciation Dividend income Interest income Interest and finance charges Unrealised profit Employee compensation expense Loss/(Income) from associates Adjustments Bad debts Provision for doubtful debts.416.17) – 4. 2010 108 Annual Report 2009-10 .315.80077 For and on behalf of board of directors Sd/Rohtas Goel DIN: 00003735 Chairman and Managing Director Sd/Vimal Gupta Additional Vice President (Finance & Accounts) Sd/Jai Bhagwan Goel DIN: 00075886 Director Sd/Venkat Rao Company Secretary Place: New Delhi Date: 27th May.45) (1.12 1.71 8.58) (4.66 (648.110.013.404.10) 3.533.76) (0. As per our audit report of even date attached For and on behalf of Doogar & Associates (Regn.96 5.223.02) 3.76) (7.17) 3.17 – 23.609.52 1.79 1.34) 0.43) 353.076.12 B.14 1.27 (2.65 – (101.54 (91.77 (4.43 64.25 (506.55 1.269.83) 34.83 (350.58) (1.84 (7.034.38 (2.756.647.52) (5.266.63 (0.230.074.27 (5.12) 498.72 (0.04 496. C.02 0.16) (0.71 – 11.70 818.Consolidated Cash Flow Statement for the year ended March 31. 000561N) Chartered Accountants Sd/M.31 60.50 2. No.403.97 2.840.K.54) 4.01) (2.403. 2010 (Rupees in mio) 31-Mar-10 A.59) 3.94) (593.59 7.15 (1.50) – – (0.62) 2.367.08) 0.70 1.291. Note 1 : The above cash flow statement has been prepared under the ‘Indirect Method’ as set out in the Accounting Standard 3 ‘Cash Flow Statement’ issued by the Institute of Chartered Accountants of India Note 2 : Depreciation includes amount charged to operating expenses.01 101.192.91 31-Mar-09 507.81 (0.73) 5.55) (92.863.97) 1.743.01 200.deposits and advances Liabilities no longer required written back Profit on sale of fixed assets Profit on sale of investment Operating profit before working capital changes Adjustments for working capital Inventories Projects in Progress Sundry debtors Loans and advances Current liabilities and provisions Cash used in operating activities Direct tax paid Net cash used in from operating activities Cash flow from investing activities Purchase of fixed assets Sale of fixed assets Purchase of investments Sale of investments Conversion of fixed assets in to stock Goodwill on consolidation Minority interest Interest received Dividend received Net cash used in investing activities Cash flow from financing activities Interest and finance charges paid Repayment of borrowings Proceeds from borrowings Dividend and dividend tax paid Net cash generated from financing activities Net increase/(decrease) in cash and cash equivalents Opening balance of cash and cash equivalents Closing balance of cash and cash equivalents 1.766.059.05) (5.51 5.98) (7.00 43.07 (3.407.15 (78.40) 3.03) 438.94) 92.35 (7.43) 2.02 (2.50) (0.092. Doogar Partner M No.

82 79.00 0.11 0.02 0.52 0.42 0.03 0.00 2.33 (0..50) 95.01 0.49 0.50 0.01 176.73 335.02) 0.00 0.02 339.94 48.57 0.00 Profit after tax Proposed dividend 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Omaxe Infrastructure Limited Omaxe Housing & Developers Limited JRS Projects Private Limited Monarch Villas Private Limited JKB Constructions Private Limited Omaxe Connaught Place Mall Limited Green Planet Colonisers Private Limited Primordial Buildcon Private Limited Omaxe Buildhome Private Limited Omaxe Infotechcity Developers Limited Omaxe Entertainment Limited Omtech Infrastructure & Construction Limited Navratan Tech Build Private Limited Champion Realtors Private Limited Link Infrastructure & Developers Private Limited Anjaniputra Builders Private Limited Zodiac Housing & Infrastructure Private Limited Hamara Ghar Constructions & Developers Private Limited Jewel Projects Private Limited Omaxe Buildwell Private Limited Ansh Builders Private Limited Arman Builders Private Limited Omaxe Infrabuild Limited Eden Buildcon Private Limited Satvik Hitech Builders Private Limited S.33 207.55 0.15 0.00 0.00 0.00 0.42 0.606.61) 143.00 (14.00 39.00 0.03 0.18 6.00 0.64 549.54 0.40 0.000.33 207.00 (Contd.59 0.91 0.64 549.05.13 0.21 0.10 0.69 0.50 0.00 0.00 20.00 0.11 0.89 3.00 0.38 0.00 2.50 0.00 0.001.50 0.65 0.00 2.51 218.08) 0.17 1.10 122.00 9.00 52.08 (0.2010 under Section 212(8) of the Companies Act.00 52.11 0.00 0.91 0.00 0.06 0.65 4.597.00 (9. 2010 (Rs.65 0.50 10.50 0.00 0.01 0.84 (0.01 0. No.65 4.01 0.00 0.81 401.35 23.11 0.48 0.74 1.57 0.66 48.49 0.01 0.18 6.60 0.00 0.833.) Annual Report 2009-10 109 .50 0.64 0.) Rohtas Holdings (Gulf) Limited Max Gulf Limited Pancham Realcon Private Limited Oasis Township Private Limited Reliable Manpower Solutions Ltd.41 0.09 0.37 4.00 0.04 0.50 0.74 1.00 0.11 0.01 0.21 0.00 0.02 5.01 0.00 0.04 0.39 102.00 54.65 0.27 0.606..81 0.11 0.00 0.51 1.94 6.02 0.52 560.00 0.00 0.00 0.54 0.01 0.00 0.20) 70.00 0.50 0.37 4.47 0.00 0.27 19.50 0.06 0.65 0.00 (0.00 0.32 0.01 0.01) (0.02 0.03 3.51 2.03 37.N.32 0.50 0.73 335.155.31 243.48 0.22 (0.29 0.99 0.51 2.03) 0.47 0.00 0.00 0.50 10.83 63.00 0.65 0.72 262.62 0.48 0.52 0.00 6.00 5.50 0.99 0.00 0.02 0.67 750.597.21 8.67 750.12 0.81 401.00 0.53 5.84 0.33 0.57 0.50 0.00 (3.76 158.95 0.400.72 262.48 0.00 0.46 (0.88 (0.51 218.46 6.48 0.91 0.00 0. Realtors Private Limited Golden Glades Builders Private Limited Aditya Realtech Private Limited Ekansh Buildtech Private Limited Omaxe Chandigarh Extension Developers Private Limited (formerly Golden Peak Township Pvt.84 0.91 0.21 0.12) 55.06 0.50 0.00 0.59 0.54 128.01 0.55 0.00 4.01 0.50 0.60 0.01 0.02 0.03 0.00 0.69 0.02 0. Ltd.01 0.00 0.50 1.52 560. Omaxe Rajasthan SEZ Developers Limited Omaxe Power Private Limited Omaxe Infrastructure and Construction Limited Omaxe Housing Finance Limited Landlord Developers Private Limited 46.62) 0.76 158.51 1.00 0.03) 108.00 0.31 0. in mio) Sl.00 14.48 0.98 0.50 250.00 0.00 4.00 0.44 1.27 19.83 764.02 0.29) (0.00 0.39 102.390.57 0.000.02 1.85 0.50 0.83 764.50 0.00 0.00 0.00 0.58) 0.04 0.00 (3.02 80.66 0.82 0.67 0.01 60.00 5.01 0.00 0.50 0.00 0.01 0.42 0.31 (9. 47/496/2010–CL–III dated 11. 1956 for the year ended March 31.33 0.50 0.00 0.23 0.02 0.18 6.00 0.16 0.02 0.11) 47.00 0.00 0.08) 0.99 0.47 1.03 0.89 3.82 79.50 50.00 0.05 0.Disclosure pursuant to Ministry of Corporate Affairs approval No.29 22.54 128.40 0.40 0.00 0.50 0.50 0.00 0. Name of Subsidiary Paid up Capital Reserves Total Assets Total Liabilities Invest– ments Turnover Profit before tax Provision for tax including deferred tax (written back) 0.50 0.44 1.85 0.00 0.99 0.80 - 1.00 0.50 0.37 0.390.49 0.02 715.

03 0.50 0.00 0.50 0.00 0.77 0.50 0.00 0.00 0.10 0.15 0.03) (0.00 0.88 0.01 0.50 1.00 0.42 94.50 0.03 0.00 (0.65 0.61) 0.06 0.02 0.00 0.00 0.00 0.10 0.02 0.00 0.78 0.15 0.50 0.24 0.094.57 180.51 11.03 0.00 0.01 0.70 0.39 1.15 0.50 0.14 0.00 0.02 42. No.50 0.00 0.45 0.00 Profit after tax Proposed dividend 110 Annual Report 2009-10 0.70 0.00 0.19 0.00 0.00 0.39 1.70 85.00 0.17 5.26 0.Disclosure pursuant to Ministry of Corporate Affairs approval No.00 0.26 0.50 0.02 0.00 0.00 0.50 0.00 0.50 0.24 1.02 0.60 93.00 0.01 0.00 0.13 0.00 0.00 0.094.00 0.50 0.00 0.00 0.00 Rohtas Goel DIN:00003735 Chairman and Managing Director J.25) (0.2010 under Section 212(8) of the Companies Act.00 0.88 0.12) 0.00 0.00 0.00 0.01 0.00 0.44 79.00 0. Goel DIN: 00075886 Director Vimal Gupta Additional Vice President (Finance & Accounts) Venkat Rao Company Secretary Sl. 2010 (Rs.64 0.02 0.00 0.10 0.50 0.01 0.05.01 0.54 97.01 0.55 0.06 (0.24 0.03 112.27) (0.06 0.00 0.65 0.00 0.12 0.65 0.59 55.49 0.73 108.55 0.89 81.00 0. in mio) Paid up Capital Reserves Total Assets Total Liabilities Invest– ments Turnover Profit before tax Provision for tax including deferred tax (written back) 0.00 0.48 0.24 0. 2010 .51 11.95 11. Name of Subsidiary 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 Finishing Touch Properties and Developers Private Limited Kavya Buildtech Private Limited Rivaj Infratech Private Limited Garv Buildtech Private Limited Vimvin Realtors Private Limited Omaxe Housing & Infrastructure Limited Oasis Suncity Realtors Private Limited* RPS Suncity Promoters & Developers Private Limited* First Promoters & Developers Private Limited* Shri Balaji Green Heights Private Limited* Volvo Properties Private Limited* Ashray Infrabuild Private Limited** Abheek Builders Private Limited** Silver Peak Township Private Limited** Aarzoo Technobuild Private Limited** Hiresh Builders Private Limited** Bhanu Infrabuild Private Limited** Radiance Housing and Properties Private Limited** Aadhira Developers Private Limited** Shubh Bhumi Developers Private Limited** Sanvim Developers Private Limited** * Subsidiaries of Omaxe Buildhome Private Limited ** Subsidiaries of Omaxe Chandigarh Extension Developers Private Limited Place : New Delhi Date : 27th May.50 0.77 0.00 0.50 0.00 0.03 0.00 0.48 0.57 0.63 (0.17 5.24 0.01 0.00 0.00 0.78 0.01 0.50 0.00 0. 47/496/2010–CL–III dated 11.00 0.12 1.00 0.00) 0.45 0. B.00 0.24 0.00 0.01) 0. 1956 for the year ended March 31.00 0.13 0.95 11.65 0.64 0.13 0.00 0.01 0.00 0.00 0.48 97.00 0.10 (0.57 0.57 180.

...................S.............................. of Shares Name of Shareholders / Proxy : : : I/We hereby record my/our presence at the Twenty First Annual General Meeting of the Company held at Air Force Auditorium......... failing him/her ............e............ Registered Office: 7. Near Batra Banquet Hall..... as my/our Proxy to attend and vote for me/us and on my/our behalf at the Twenty First Annual General Meeting of the Company.................... day of .................. 2010 For Office Use only Proxy No...S........ New Delhi . No.............. New Delhi ................. Registered Office: 7...: Notes: 1...........................Omaxe Ltd......... Dated ........... the 19th day of August..... New Delhi ....... New Delhi ...... L................. Subroto Park............... R/o ..... the 19th day of August............ Annual Report 2009-10 111 3..................110019 ATTENDANCE SLIP Twenty First Annual General Meeting Thursday.................110019 FORM OF PROXY I/We ......110 010 Member’s / Proxy’s Signature Notes: 1.......110 010 and at any adjournment thereof................. Omaxe Ltd.......... 2......................... 3...... Kalkaji......... to the Registrar and Share Transfer Agent of the company i............M.......... Kalkaji............................m.................... R/o ........ The Proxy Form should be signed across the Revenue Stamp as per specimen signature(s) registered with the Company..............................................: Folio/DP & Client ID No..110 028..... ....................... A-40........... of Shares Place for affixing Revenue Stamp & Signature ........................ hereby appoint .... if any.. The Proxy Form must be deposited at the Registered Office of the Company not less than 48 hours before the time fixed for holding the Meeting..... Naraina Industrial Area.............. failing him/her ...................................... Please note that no gift or gift coupons will be distributed.................................................. 2............. being a Member/Members of Omaxe Ltd............. New Delhi .................................. R/o . 2010 at 11..... Members are informed that no duplicate slips will be issued at the venue of the meeting and they are requested to bring this slip for the meeting.......................... Subroto Park............C.......... Phase-II............ A Proxy need not be a Member......... L.... 2010 at 11......... M/s................C.. at Air Force Auditorium.........00 A. Link Intime India Private Limited...................................... to be held on Thursday............... Folio / DPID & Client ID No.............00 a....... Members holding shares in physical form are requested to advise the change in their address........... No.

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C..S. 41896653 Printed at IPP/www. Fax: +91-11-41896799.com OMAXE LTD. Kalkaji. Office: Omaxe House.omaxe.: Regd. 7.ippindia.BOOK POST www. L. New Delhi-110019 (INDIA) Tel: +91-11-41893100/6776/6680.com .

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