We have audited the accompanying Statement of Standalone Financial Results of PRERNA INFRABUILD
LIMITED ("the Company") for the year ended March 31 , 2025 ("the Statement"), being submitted by the
Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended ("the Listing Regulations"). In our opinion and to the best of our
information and according to the explanations given to us, these Standalone Financial Results for the year
ended March 31,2025:
a. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, as amended; and
b. gives a true and fair view in conformity with the recognition and measurement principles laid down
in the Indian Accounting Standards and other accounting principles generally accepted in India of
the net profit and total comprehensive income and other financial information of the Company for
the year then ended.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10)
of the Companies Act, 2013 ("the Act"). Our responsibilities under those Standards are further described in the
Auditor's Responsibilities for Audit of the Standalone Financial Results for the year ended
March 31,2025, section of our report. We are independent of the Company in accordance with the Code of
Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements
that are relevant to our audit of the Standalone Financial Results for the year ended March 31 , 2025 under the
provisions of the Act and the Rules there under, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the ICAl's Code of Ethics. We believe that the
audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.
Key audit matters: Key audit matters (‘KAM’) are those matters that, in our professional judgment, were of
most significance in our audit of the standalone financial statements of the current period. These matters were
addressed in the context of our audit of the standalone financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters. We have determined the matter
described below to be the key audit matters to be communicated in our report.
1 Revenue recognition for real estate projects (as described in note 32) of the standalone Ind AS financial
statements
Kay Audit Matter: The Company applies Ind AS 115 "Revenue from contracts with customers" for
recognition of revenue from real estate projects, which is being recognised at a point in time upon the
Company satisfying its performance obligation and the customer obtaining control of the underlying
asset. Considering the application of Ind AS 115 involves significant judgment in identifying performance
obligations and determining when 'control' of the asset underlying the performance obligation is
transferred to the customer, the same has been considered a key audit matter.
Our audit procedures included: • Read the Company's revenue recognition accounting policies and
assessed compliance of the policies with Ind AS 115. • Obtained and understood revenue recognition
process including identification of performance obligations and determination of transfer of control of the
asset underlying the performance obligation to the customer. • Read the legal opinion obtained by the
Company to determine the point in time at which the control is transferred in accordance with the
underlying agreements. • Tested, revenue-related transactions with the underlying customer contracts,
sale deed and handover documents, evidencing the transfer of control of the asset to the customer based
on which revenue is recognised. • Assessed the revenue-related disclosures included in Note 32 to the
standalone Ind AS financial statements in accordance with the requirements of Ind AS 115.
2 Claims, litigations and contingencies:
Key Audit Matters: The Company is subject to periodic challenges by local tax authorities on a range of tax
matters during the normal course of business including direct and indirect tax matters. These involve
significant management judgment to determine the possible outcome of the uncertain tax positions,
consequently having an impact on related accounting and disclosures in the financial statements. Refer to
Note 36 to the financial statements
Our audit procedures include the following substantive procedures: • Obtained understanding of key
uncertain tax positions; and • We along with our internal tax experts read and analysed select key
correspondences, external legal opinions/consultations by management for key uncertain tax positions;
Discussed with appropriate senior management and evaluated management's underlying key
assumptions in estimating the tax provisions; and Assessed management's estimate of the possible
outcome of the disputed cases.
Management's & Board of Director's Responsibilities for the Standalone Financial Results
This Statement, which includes the Standalone Financial Results is the responsibility of the Company's Board
of Directors, and has been approved by them for the issuance. The Statement has been compiled
from the related audited standalone financial statements for the year ended March 31,2025, and interim
financial information for the quarter ended March 31,2025 being the balancing figure between audited figures
in respect of the full financial year and the audited year to date figures up to the third quarter of the
current financial year. This responsibility includes the preparation and presentation of the Statement that give
a true and fair view of the net profit and other comprehensive income and other financial information in
accordance with the recognition and measurement principles laid down in the Indian Accounting Standards
prescribed under Section 133 of the Act read with relevant rules issued there under and other accounting
principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This
responsibility also includes maintenance of adequate accounting records in accordance with the provisions of
the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting policies; making judgments and estimates that
are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial
controls that were operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view
and is free from material misstatement, whether due to fraud or error.
In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability, to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the financial reporting process of the Company.
Auditor's Responsibilities for Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results for the
year ended March 31,2025 as a whole is free from material misstatement, whether due to fraud or error, and
to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but
is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis
of this Standalone Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the Standalone Financial Results, whether due
to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonablene ~ nting estimates and
related disclosures made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in
terms of the requirements specified under Regulation 33 of the Listing Regulations.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the ability of the Company to continue as a going concern.
If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report
to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained up to the date of our auditor's report.
However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Standalone Financial Results, including
the disclosures, and whether the Standalone Financial Results represent the underlying transactions
and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the Company
to express an opinion on the Standalone Financial Results.
We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control that
we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and communicate to them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.
Report on other Legal and Regulatory Requirements and Our Opinion:
As required by the Companies (Auditor's Report] Order, 2020 ('the Order') issued by the Central Government of
India in terms of Section 143(11] of the Act, we give in the Annexure A,a statement on the matters specified in
paragraphs 3 and 4 of the Order.
1] As required by section 143(3] of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge
and belief were necessary for the purpose of our audit;
(b) In our opinion, proper books of accounts as required by law have been kept by the company so far as it
appears from our examination of the books.
(c) The Balance Sheet, Statement of Profit & Loss including other comprehensive income, the cash flow
statement and statement of changes in Equity dealt with by this report are in agreement with the books
of account.
(c) I our opinion the standalone financial statements dealt with by this report are in agreement with the
books of account;
(d) in our opinion, the aforesaid standalone financial statements comply with Ind AS specified under
Section 133 of the Act;
(e) On the basis of written representation received from the Directors and taken on record by the Board of
Directors, we report that none of the Director is disqualified as on 31st March 2025 from being
appointed as a Director in terms of Section 164(2) of the Act.
(f) With respect to the adequacy of the internal financial controls over financial reporting of the company
and the operating effectiveness of such controls, refer to our separate Report in “Annexure B” and;
(g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of
the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:
i. The Company has disclosed the impact of pending litigation as at 31st March, 2025 on it's
standalone financial statement in Note: 34.
ii. The Company does not have any long-term contracts including derivative contracts for which there
were any material foreseeable losses; and
iii. Unpaid dividend of Rs.2,46,667/- is required to be transferred to the Investor Education and
Protection Fund by the Company.
(h) Based on our examination, which included test checks, the Company has used accounting software for
maintaining its books of account for the financial year ended 31st March 2025, which has a feature of
recording audit trail (edit log) facility and the same has operated throughout the year for all relevant
transactions recorded in the software. Further, during the course of our audit, we did not come across
any instance of the audit trail feature being tampered with.
Place: Ahmedabad For, Philip Fernandese & Co,
Chartered Accountants
Date: 08/05/2025 FRN 128122W
Philip Fernandes
Proprietor
M.N. 125960
UDIN: 25125960BMKQJB6853
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