AFFLUENCE

OPERATIONS AND Financial performance:   During the year under review, your Company’s standalone total income stood at Rs. 66,690 Lakhs as compared to Rs. 62,486 Lakhs in the previous year resulting in 2.5x increase in its profit before tax, which stood at Rs. 4,895 Lakhs as against Rs. 1,940 Lakhs in the previous year.  The profits after tax of the Company was Rs. 2,902 Lakhs as against loss of Rs. 425 Lakhs in previous year.   During the year under review, Company’s Project ‘Kalpataru Avana’ being developed at Parel, Mumbai, received Occupation Certificate. The Company has also executed Redevelopment Agreement for redevelopment of Yoganand Co-operative Housing Society.    

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO:   CONSERVATION OF ENERGY:   The operations of your Company are not energy-intensive. However, wherever possible, the Company takes energy saving measures from time to time. During the year under review, following actions have been to save energy:   Installation of Solar Hot Water System for heating water for washrooms & other uses and Solar PV System for common area lighting, resulting in reduction of electricity consumption. LED light fixtures and Occupancy sensors installed in staircases and lift lobbies to save electricity.   TECHNOLOGY ABSORPTION:   Your Company has continuously taken steps in direction of technology absorption and upgradation with view to improve and optimize the operation of the Company. During the year under review, the Company has made following technological upgradations:   Adoption of single stack drainage system using superior pipes, by replacing European GEBERIT pipes, resulting in reduced plastic material consumption, costs and carbon footprint and import substitution;   Adoption of customized quality management software for better manage QA/ QC on project sites. The system is user-friendly and real-time, thereby eliminating time delays and efforts in communication, recording and mitigation of snags.   STP’s (sewage treatment plant) has been installed at every project, which treats sewage water the same can be used for gardening and other general purpose, resulting in reduction on fresh water consumption by about 30%;   Organic Waste Converters has been installed to convert wet waste into compost manure, which is used in the gardens within the premises.            FOREIGN EXCHANGE EARNINGS:                                                                                                                                                The foreign exchange earnings for the year ended 31st March, 2023 were NIL and foreign exchange outgo for the year ended 31st March, 2023 was Rs. 4,98,54,818/-.   Your Company's primary business activities are within India and does not have significant exposure in foreign currency.  

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO:   CONSERVATION OF ENERGY:   The operations of your Company are not energy-intensive. However, wherever possible, the Company takes energy saving measures from time to time. During the year under review, following actions have been to save energy:   Installation of Solar Hot Water System for heating water for washrooms & other uses and Solar PV System for common area lighting, resulting in reduction of electricity consumption. LED light fixtures and Occupancy sensors installed in staircases and lift lobbies to save electricity.   TECHNOLOGY ABSORPTION:   Your Company has continuously taken steps in direction of technology absorption and upgradation with view to improve and optimize the operation of the Company. During the year under review, the Company has made following technological upgradations:   Adoption of single stack drainage system using superior pipes, by replacing European GEBERIT pipes, resulting in reduced plastic material consumption, costs and carbon footprint and import substitution;   Adoption of customized quality management software for better manage QA/ QC on project sites. The system is user-friendly and real-time, thereby eliminating time delays and efforts in communication, recording and mitigation of snags.   STP’s (sewage treatment plant) has been installed at every project, which treats sewage water the same can be used for gardening and other general purpose, resulting in reduction on fresh water consumption by about 30%;   Organic Waste Converters has been installed to convert wet waste into compost manure, which is used in the gardens within the premises.            FOREIGN EXCHANGE EARNINGS:                                                                                                                                                The foreign exchange earnings for the year ended 31st March, 2023 were NIL and foreign exchange outgo for the year ended 31st March, 2023 was Rs. 4,98,54,818/-.   Your Company's primary business activities are within India and does not have significant exposure in foreign currency.  

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO:   CONSERVATION OF ENERGY:   The operations of your Company are not energy-intensive. However, wherever possible, the Company takes energy saving measures from time to time. During the year under review, following actions have been to save energy:   Installation of Solar Hot Water System for heating water for washrooms & other uses and Solar PV System for common area lighting, resulting in reduction of electricity consumption. LED light fixtures and Occupancy sensors installed in staircases and lift lobbies to save electricity.   TECHNOLOGY ABSORPTION:   Your Company has continuously taken steps in direction of technology absorption and upgradation with view to improve and optimize the operation of the Company. During the year under review, the Company has made following technological upgradations:   Adoption of single stack drainage system using superior pipes, by replacing European GEBERIT pipes, resulting in reduced plastic material consumption, costs and carbon footprint and import substitution;   Adoption of customized quality management software for better manage QA/ QC on project sites. The system is user-friendly and real-time, thereby eliminating time delays and efforts in communication, recording and mitigation of snags.   STP’s (sewage treatment plant) has been installed at every project, which treats sewage water the same can be used for gardening and other general purpose, resulting in reduction on fresh water consumption by about 30%;   Organic Waste Converters has been installed to convert wet waste into compost manure, which is used in the gardens within the premises.            FOREIGN EXCHANGE EARNINGS:                                                                                                                                                The foreign exchange earnings for the year ended 31st March, 2023 were NIL and foreign exchange outgo for the year ended 31st March, 2023 was Rs. 4,98,54,818/-.   Your Company's primary business activities are within India and does not have significant exposure in foreign currency.  

DIRECTORS’ RESPONSIBILITY STATEMENT:   Pursuant to the requirements under Section 134(5) of the Act, with respect to Directors’ Responsibility Statement, it is hereby confirmed that:                                                                                              in the preparation of the annual accounts for the financial year ended 31st March, 2023, the applicable accounting standards have been followed and there is no material departure;   the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit/ loss of the Company for that period;   the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;   the Directors have prepared the annual accounts for the year ended 31st March, 2023 on a going concern basis; and   the Directors had devised proper systems to ensure compliances with the provisions of all applicable laws and that such systems were adequate and operating effectively.