Aurum PropTech Limited

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Date: September 06, 2023

To, Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001

BSE Scrip Code: 539289

Listing Department National Stock Exchange of India Limited Bandra Kurla Complex, Bandra East, Mumbai – 400 051

NSE Symbol: AURUM

Dear Sir/ Madam,

Sub: Notice of 10[th] Annual General Meeting and Annual Report for the financial year 2022-23.

Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Notice of 10[th] Annual General Meeting and Annual Report for the financial year 2022-23 being sent to the members through electronic mode are attached.

Notice		https://www.aurumproptech.in/investor/financial- information/annual-reports
Annual Report		https://www.aurumproptech.in/investor/financial- information/annual-reports

This is for your information and records.

Yours faithfully,

For Aurum PropTech Limited

Digitally signed by SONIA SONIA HITESH JAIN HITESH JAIN Date: 2023.09.06 22:14:17 +05'30'

Sonia Jain Company Secretary & Compliance Officer

Encl: as above

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(Formerly known as Majesco Limited)

Registered Office: Aurum Q1, Aurum Q Parć , Thane Belapur Road, Navi Mumbai 400 710

Corporate Identification Number (CIN): L72300MH2013PLC244874

Website: https://aurumproptech.in/; E-mail: [email protected]

Phone: +91-22-3000 1700

NOTICE OF TENTH ANNUAL GENERAL MEETING

NOTICE is hereby given that 10[th] Annual General Meeting (“AGM”) of the members of AURUM PROPTECH LIMITED (formerly known as Majesco Limited) is scheduled to be held on Thursday, September 28, 2023 at 2:00 P. M. through Video Conferencing (“VC”)/ Other Audio Visual Means (“OAVM”), to transact the following businesses:

ORDINARY BUSINESS

who retires by rotation at this meeting, be and is hereby appointed as a Director of the Company.”

SPECIAL BUSINESS

3. Approve the variation in the estimated amount of objects of rights issue proceeds

To consider and if thought fit, to pass the following resolution as a Special Resolution:

1. Adoption of Financial Statements

To consider, approve and adopt the audited financial statements of the Company (Consolidated and Standalone) for the financial year ended March 31, 2023 together with Reports of the Board of Directors and Auditors thereon and in this regard, pass the following resolution as an Ordinary Resolution.

“RESOLVED THAT the audited (Standalone and Consolidated) financial statements of the Company for the financial year ended on March 31, 2023 and the Reports of the Board of Directors and Auditors thereon as circulated to the Members be and are hereby considered and adopted.”

2. Retirement by Rotation

To appoint Shri Ramashrya Yadav (DIN: 00145051), who retires by rotation as a Director, and in this regard pass the following resolution as an Ordinary Resolution.

“RESOLVED THAT in accordance with the provisions of Section 152 and other applicable provisions of the Companies Act, 2013, Shri Ramashrya Yadav (DIN: 00145051) Non-Executive Director of the Company,

“RESOLVED THAT with reference to the letter of offer of the company dated April 08, 2022 pursuant to which the Company has issued and allotted partly paid equity shares of the Company to its shareholders on a rights basis (Rights Issue) , and pursuant to the applicable provisions of the Companies Act, 2013 and the rules made thereunder, (including any statutory modifications or re-enactment thereof, for the time being in force), the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and any other applicable rules, regulations, guidelines, clarifications, circulars and notifications issued by or the Securities Exchange Board of India and in accordance with the provisions of the Memorandum of Association and the Articles of Association of the Company, the consent of the members of the Company be and is hereby accorded to approve the change in estimated amount of objects of rights issue proceeds, to the limited extent, as set out below:

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

Notice (contd.)

Disclosure in the Letter of Offer vis-à-vis utilization Variation in the estimated amount of Issue Proceeds towards Product Development, Product Marketing objects

Product Development: ` 3,750 Lakhs

I. Change in the estimated amount of Product Development and Product Marketing objects

Product Marketing: ` 3,100 Lakhs

II. Unutilized amount of Product Development and Product Marketing objects, to be utilized for funding Inorganic growth initiatives and general corporate purposes including repayment of principal and interest on loans taken by the Company.

Disclosure in the Letter of Offer vis-à-vis utilization of Variation in the estimated amount Issue Proceeds towards Identified Investment object Helloworld Technologies India Private Limited: Unutilized amount of ` 389 Lakhs out of

Unutilized amount of 389 Lakhs out of 4,200 Lakhs (purchase of equity shares) to be utilized for growth initiatives and general corporate purposes including repayment of principal and interest on loans taken by the Company.

a) Purchase of equity shares: ` 4,200 Lakhs

b) Subscription of further equity shares/loan/ line of credit/ convertible note: ` 1,800 Lakhs

Disclosure Requirements) Regulations, 2015 (Listing Regulations), read with Section 188 of the Companies Act, 2013 (the Act) and other applicable provisions, if any along with the Rules made thereunder and other applicable laws including any amendments, modifications, variations or reenactments thereof and the Company’s Policy on the Materiality of Related Party Transactions and on Dealing with Related Party Transactions and basis the approval of the Audit Committee and recommendation of the Board of Directors of the Company, approval of the Members of the Company be and is hereby accorded to the Subsidiaries (as defined under the Companies Act, 2013) of the Company, to enter into and/or continue the related party transaction(s) / contract(s) / arrangement(s) / agreement(s) (in terms of Regulation 2(1)(zc)(i) of the Listing Regulations) in terms of the explanatory statement to this resolution and more specifically set out in Table nos. A1 to A5 in the explanatory statement to this resolution on the respective material terms & conditions set out in each of Table nos. A1 to A4.

RESOLVED FURTHER THAT for the purpose of giving effect to these resolution, the Board be and is hereby authorized to do all such acts, deeds, matters and things as it may in its absolute discretion, deem necessary to comply with the applicable provisions of the Companies Act, 2013 and rules made there under for the time being in force or and any modification or changes implemented during the course of the desirable including without limitation, to make modifications, changes, variations, alterations or revisions in the matters relating to acquisitions and strategic initiatives as it may deem fit, seek requisites approvals from the appropriate authorities, appoint consultants, advisors and other agencies.

RESOLVED FURTHER THAT a copy of the above resolutions, certified by any director or the Company Secretary of the Company, be forwarded to all concerned authorities, agencies or parties for necessary action from time to time”.

4. Approve the Material Related Party Transactions of the Subsidiaries of the Company

RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to do all such acts, deeds, matters and things as it may deem fit in its absolute discretion, to delegate all or any of its powers conferred under this resolution to any

To consider and if thought fit, to pass the following resolution as an Ordinary Resolution:

“RESOLVED THAT pursuant to the provisions of Regulation 23(4) of the SEBI (Listing Obligations and

Notice (contd.)

Director or Key Managerial Personnel or any officer/ executive of the Company and to resolve all such issues, questions, difficulties or doubts whatsoever that may arise in this regard and all action(s) taken by the Company / Subsidiaries in connection with any matter referred to or contemplated in this resolution, be and are hereby approved, ratified and confirmed in all respects.”

By Order of the Board For Aurum PropTech Limited

Onkar Shetye

Place: Navi Mumbai Executive Director Date: July 18, 2023 DIN: 06372831

Registered office: Aurum Q1, Aurum Q Parć, Thane Belapur Road,

Navi Mumbai 400 710

(CIN): L72300MH2013PLC244874

https://aurumproptech.in/

E-mail: [email protected]

NOTES:

The respective Explanatory Statements, pursuant to Section 102 of the Companies Act, 2013, in respect of the business under Item Nos. 3 & 4 of the accompanying Notice are annexed hereto.
General instructions for accessing and participating in the 10th Annual General Meeting (AGM) through VC/ OAVM Facility and voting through electronic means including remote e-Voting:
a) The Ministry of Corporate Affairs (“MCA”) has, vide its circular dated December 28, 2022, read together with circulars dated April 08, 2020, April 13, 2020, May 05, 2020, January 13, 2021, December 08, 2021, December 14, 2021 and May 05, 2022 (collectively referred to as “MCA Circulars”), permitted convening the Annual General Meeting (“AGM” / “Meeting”) through Video Conferencing (“VC”) or Other Audio Visual Means (“OAVM”), without physical presence of the members at a common venue. In accordance with the MCA Circulars and applicable provisions of the Companies Act, 2013 (“the

Act”) read with Rules made thereunder and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), the AGM of the Company is being held through VC/ OAVM. The deemed venue for the AGM shall be the Registered Office of the Company.

b) Since AGM is being held through VC/OAVM, the facility to appoint a proxy to attend and cast vote for the members is not available for this AGM and hence the Proxy Form and Attendance Slip are not annexed to this Notice.
c) Since the AGM is held through VC/OAVM facility, the road map is not annexed in the Notice.

Dispatch of Annual Report through Electronic mode

a. In line with the MCA Circular No. 17/2020 dated April 13, 2020 and SEBI Circulars, Notice of the AGM along with the Annual Report 2022-23 is being sent only through electronic mode to those Members whose e-mail addresses are registered with the Company/ Depositories/ Depository Participants. Notice of the AGM and Annual Report 2022-23 will also be made available on the website of the Company at https://aurumproptech.in/, websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia. com respectively and the website of NSDL (agency for providing the Remote e-voting facility) i.e. https://www.evoting.nsdl.com.
b. Members who have not registered their e-mail address with the Company / Depository /Depository Participant are requested to register their e-mail address by clicking on the below link and follow the registration process as guided there at: https://ris.kfntech.com/ email_registration/. In case of any queries, members may write to einward.ris@ kfntech.com.
c. As the AGM is being conducted through

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

Notice (contd.)

VC / OAVM, for the smooth conduct of proceedings of the AGM, Members are encouraged to send their questions in advance mentioning their name, demat account number/folio number, e-mail ID, mobile number at investors@ aurumproptech.in. Questions received by the Company till 5:00 p.m. on Monday, September 25, 2023 shall only be considered and responded during the AGM.

The members of the Company, holding shares in physical form or in dematerialized form, as on the cut-off date being Thursday, September 21, 2023 may cast their vote through remote e-voting or voting at the AGM.
The voting rights of members shall be in proportion to the number of shares held by the members as on the cut-off date being Thursday, September 21, 2023.
A person holding shares in physical form and nonindividual shareholders who acquires shares of the Company and becomes member of the Company after dispatch of AGM Notice via e-mail and holding shares as of the cut-off date i.e. Thursday, September 21, 2023 may obtain the User ID and Password by sending a request at evoting@nsdl. co.in. However, if he / she is already registered with NSDL for remote e-voting then he/she can use his / her existing user ID and password for casting the vote. If you forgot your password, you can reset your password by using the “Forgot User Details/ Password” or “Physical User Reset Password” option available on www.evoting.nsdl.com or call on toll-free no. 1800 1020 990 and 1800 22 44 30 . In case of Individual Shareholders holding securities in demat mode who acquires shares of the Company and becomes a Member of the Company after sending of the Notice and holding shares as of the cut-off date i.e. may follow steps mentioned in the Notice of the AGM under “Access to NSDL e-Voting system”.
A person who is not a member as on the cut-off date should treat this Notice for information purposes only.
In the case of joint holders, the Member whose name appears as the first holder in the order of names as per the Register of Members of the Company will be entitled to vote at the AGM.
Members who have cast their votes by remote e-voting prior to the AGM may also attend/ participate in the AGM through VC / OAVM but shall not be entitled to cast their vote again.
Pursuant to Section 91 of the Companies Act, 2013, the Register of Members and Share Transfer Books of the Company shall remain close from Friday, September 22, 2023 to Thursday, September 28, 2023 (both days inclusive), for the purpose of AGM.
Mr. Ainesh Jethwa, Practicing Company Secretary (ICSI Membership No. ACS 27990) (Certificate of Practice No. 19650), has been appointed as Scrutinizer to scrutinize the remote e-voting process and e-voting at the AGM in a fair and transparent manner.

INSPECTION OF DOCUMENTS

a. The Register of Directors and Key Managerial Personnel and their shareholding, maintained under Section 170 of the Companies Act, 2013, the Register of Contracts or Arrangements in which the directors are interested, maintained under Section 189 of the Companies Act, 2013, certificate issued by Statutory Auditors of the Company as required under the SEBI (Share Based Employee Benefits) Regulations, 2014 and all documents as mentioned in the resolutions and/ or explanatory statement, are available for inspection through electronic mode, up to the date of AGM.
b. Members seeking any information with regard to Accounts or any other matter to be considered at AGM are requested to write to the Company on or before Thursday 21, September 2023 by sending an at [email protected]
Pursuant to the provisions of Section 72 of the Act read with the Rules made thereunder, Members holding shares in single name may avail the facility of nomination in respect of shares held by them. Members holding shares in physical form may avail this facility by

Notice (contd.)

management, members holding shares in physical form are requested to consider converting their holdings to dematerialized form.

sending a nomination in the prescribed Form No. SH-13, to the Registrar & Share Transfer Agent. Members holding shares in electronic form may contact their respective Depository Participant(s) to avail this facility.

SEBI has mandated submission of Permanent Account Number (PAN) by every participant in the securities market. Members holding shares in dematerialized form are therefore, requested to submit their PAN to their depository participants. Members holding shares in physical form are required to furnish PAN to the Registrar & Share Transfer Agent.
Members may note that, as mandated by SEBI, the securities of listed companies can be transferred only in dematerialized form with effect from, April 01, 2019, except in case of request received for transmission or transposition of securities. In view of this and to eliminate all risks associated with physical shares and for ease of portfolio

INSTRUCTIONS FOR MEMBERS FOR ATTENDING THE AGM THROUGH VC/ OAVM ARE AS UNDER:

The Members can join the AGM in the VC/OAVM mode 15 minutes before and after the scheduled time of the commencement of the Meeting by following the procedure mentioned in the Notice. The facility of participation at the AGM through VC/ OAVM will be made available for 1000 members on first come first served basis. This will not include large Shareholders (Shareholders holding 2% or more shareholding), Promoters, Institutional Investors, Directors, Key Managerial Personnel, the Chairpersons of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee, Auditors etc. who are allowed to attend the AGM without restriction on account of first come first served basis.
Pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014 (as amended) and Regulation 44 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 (as amended) and the Circulars issued by the Ministry of Corporate Affairs dated April 08, 2020, April 13, 2020 and May 05, 2020 the Company is providing facility of remote e-voting to its Members in respect of the business to be transacted at the AGM. For this purpose, the Company has entered into an agreement with National Securities Depository Limited (NSDL) for facilitating voting through electronic means, as the authorized agency. The facility of casting votes by a member using remote e-voting system as well as voting on the day of the AGM will be provided by NSDL.
Institutional/ Corporate members are encouraged to attend and vote at the AGM through VC/OAVM. Institutional / Corporate members intending to authorize their representatives to attend and vote at the AGM are required to send a certified scanned copy (pdf/jpeg format) of the Board Resolution/ authority letter, with the attested specimen signature of the duly authorized signatory(ies) who are authorized to vote, to the Scrutinizer by e-mail to Ainesh Jethwa [email protected] with a copy marked to [email protected].
Members who would like to express their views or ask questions during the AGM may register themselves as a speaker by sending their request from their registered e-mail address mentioning their name, DP ID and Client ID/folio number, PAN, mobile number at [email protected] from Saturday, September 23, 2023 (9:00 a.m. IST) to Monday, September 25, 2023 (5:00 p.m. IST). Those Members who have registered themselves as a speaker will only be allowed to express their views/ask questions during the AGM. The Company reserves the right to restrict the number of speakers depending on the availability of time for the AGM.
The attendance of the Members attending the AGM through VC/OAVM will be counted for the purpose of reckoning the quorum under Section 103 of the Companies Act, 2013.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

Notice (contd.)

In line with the Ministry of Corporate Affairs (MCA) Circular No. 17/2020 dated April 13, 2020, the Notice calling the AGM has been uploaded on the website of the Company at https://aurumproptech.in/ The Notice can also be accessed from the websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia. com and www.nseindia.com respectively and the AGM Notice is also available on the website of NSDL (agency for providing the Remote e-Voting facility) i.e. www.evoting.nsdl.com.
AGM has been convened through VC/OAVM in compliance with applicable provisions of the Companies Act, 2013 read with MCA Circular No. 14/2020 dated April 08, 2020 and MCA Circular No. 17/2020 dated April 13, 2020, MCA Circular No. 20/2020 dated May 05, 2020 and MCA Circular No. 2/2021 dated January 13, 2021.
Member will be provided with a facility to attend the AGM through VC/OAVM through the NSDL e-Voting system. Members may access by following the steps mentioned above for Access to NSDL e-Voting system. After successful login, you can see link of “VC/OAVM link” placed under “Join General meeting” menu against company name. You are requested to click on VC/OAVM link placed under Join General Meeting menu. The link for VC/OAVM will be available in Shareholder/Member login where the EVEN of Company will be displayed. Please note that the members who do not have the User ID and Password for e-Voting or have forgotten the User ID and Password may retrieve the same by following the remote e-Voting instructions mentioned in the notice to avoid last minute rush.
Members are encouraged to join the Meeting through Laptops for better experience.
Further Members will be required to allow Camera and use Internet with a good speed to avoid any disturbance during the meeting.
Please note that Participants Connecting from Mobile Devices or Tablets or through Laptop connecting via Mobile Hotspot may experience Audio/Video loss due to Fluctuation in their respective network. It is therefore recommended to use Stable Wi-Fi or LAN Connection to mitigate any kind of aforesaid glitches.
Shareholders who would like to express their views/ have questions may send their questions in advance mentioning their name demat account number/ folio number, email, mobile number at investors@ aurumproptech.in. The same will be replied by the company suitably.

THE INSTRUCTIONS FOR MEMBERS FOR REMOTE E-VOTING ARE AS UNDER:

The remote e-voting period begins on Monday, September 25, 2023 at 9:00 A.M. and ends on Wednesday, September 27, 2023 at 5:00 P.M. The remote e-voting module shall be disabled by NSDL for voting thereafter. The Members, whose names appear in the Register of Members / Beneficial Owners as on the record date (cut-off date) i.e. Thursday, September 21, 2023 , may cast their vote electronically. The voting right of shareholders shall be in proportion to their share in the paid-up equity share capital of the Company as on the cut-off date, being Thursday, September 21, 2023.

Notice (contd.)

How do I vote electronically using NSDL e-voting system?

The way to vote electronically on NSDL e-voting system consists of “Two Steps” which are mentioned below:

Step 1: Access to NSDL e-Voting system

A) Login method for e-Voting and joining virtual meeting for Individual shareholders holding securities in demat mode

In terms of SEBI circular dated December 09, 2020 on e Voting facility provided by Listed Companies, Individual shareholders holding securities in demat mode are allowed to vote through their demat account maintained with Depositories and Depository Participants. Shareholders are advised to update their mobile number and email Id in their demat accounts in order to access e-Voting facility. Login method for Individual shareholders holding securities in demat mode is given below:
Type of shareholders Login Method Individual Shareholders holding 1. securities in demat mode with NSDL.
Existing IDeAS user can visit the e-Services website of NSDL Viz. https:// eservices.nsdl.com either on a Personal Computer or on a mobile. On the e-Services home page click on the “Beneficial Owner” icon under “Login” which is available under ‘IDeAS’ section , this will prompt you to enter your existing User ID and Password. After successful authentication, you will be able to see e-Voting services under Value added services. Click on “Access to e-Voting” under e-Voting services and you will be able to see e-Voting page. Click on company name or e-Voting service provider i.e. NSDL and you will be re-directed to e-Voting website of NSDL for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting.
If you are not registered for IDeAS e-Services, option to register is available at https://eservices.nsdl.com. Select “Register Online for IDeAS Portal” or click at https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once the home page of e-Voting system is launched, click on the icon “Login” which is available under ‘Shareholder/Member’ section. A new screen will open. You will have to enter your User ID (i.e. your sixteen digit demat account number hold with NSDL), Password/OTP and a Verification Code as shown on the screen. After successful authentication, you will be redirected to NSDL Depository site wherein you can see e-Voting page. Click on company name or e-Voting service provider i.e. NSDL and you will be redirected to e-Voting website of NSDL for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting.
Shareholders/Members can also download NSDL Mobile App “NSDL Speede” facility by scanning the QR code mentioned below for seamless voting experience.

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Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

Notice (contd.)

Type of shareholders

Login Method

Individual Shareholders holding 1. Users who have opted for CDSL Easi / Easiest facility, can login through securities in demat mode with their existing user id and password. Option will be made available to reach CDSL e-Voting page without any further authentication. The users to login Easi / Easiest are requested to visit CDSL website www.cdslindia.com and click on login icon & New System Myeasi Tab and then user your existing my easi username & password.
After successful login the Easi / Easiest user will be able to see the e-Voting option for eligible companies where the evoting is in progress as per the information provided by company. On clicking the evoting option, the user will be able to see e-Voting page of the e-Voting service provider for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting. Additionally, there is also links provided to access the system of all e-Voting Service Providers, so that the user can visit the e-Voting service providers’ website directly.
If the user is not registered for Easi/Easiest, option to register is available at CDSL website www.cdslindia.com and click on login & New System Myeasi Tab and then click on registration option.
Alternatively, the user can directly access e-Voting page by providing Demat Account Number and PAN No. from a e-Voting link available on www. cdslindia.com home page. The system will authenticate the user by sending OTP on registered Mobile & Email as recorded in the Demat Account. After successful authentication, user will be able to see the e-Voting option where the evoting is in progress and also able to directly access the system of all e-Voting Service Providers.

Individual Shareholders (holding You can also login using the login credentials of your demat account through securities in demat mode) your Depository Participant registered with NSDL/CDSL for e-Voting facility. login through their depository upon logging in, you will be able to see e-Voting option. Click on e-Voting participants option, you will be redirected to NSDL/CDSL Depository site after successful authentication, wherein you can see e-Voting feature. Click on company name or e-Voting service provider i.e. NSDL and you will be redirected to e-Voting website of NSDL for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting.

Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget Password option available at abovementioned website.

Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through Depository i.e. NSDL and CDSL.

Login type Helpdesk details Individual Shareholders holding Members facing any technical issue in login can contact NSDL helpdesk by securities in demat mode with sending a request at [email protected] or call at 022 - 4886 7000 and 022 - NSDL 2499 7000 Individual Shareholders holding Members facing any technical issue in login can contact CDSL helpdesk by securities in demat mode with sending a request at [email protected] or contact at toll free no. CDSL 1800 22 55 33

B) Login Method for e-Voting and joining virtual meeting for shareholders other than Individual shareholders holding securities in demat mode and shareholders holding securities in physical mode.

How to Log-in to NSDL e-Voting website?

Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl. com/ either on a Personal Computer or on a mobile.

Notice (contd.)

Once the home page of e-Voting system is launched, click on the icon “Login” which is available under ‘Shareholder/Member’ section.
A new screen will open. You will have to enter your User ID, your Password/OTP and a Verification Code as shown on the screen.

Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in at https://eservices.nsdl.com/ with your existing IDEAS login. Once you log-in to NSDL eservices after using your log-in credentials, click on e-Voting and you can proceed to Step 2 i.e. Cast your vote electronically.

Your User ID details are given below :

Manner of holding shares i.e. Demat (NSDL or CDSL) or Physical	Your User ID is:
a) For Members who hold shares in demat account with NSDL.	8 Character DP ID followed by 8 Digit Client ID For example if your DP ID is IN300 and Client ID is 12 then your user ID is IN30012**.
b) For Members who hold shares in demat account with CDSL.	16 Digit Benefciary ID For example if your Benefciary ID is 12 then your user ID is 12
c) For Members holding shares in Physical Form.	EVEN Number followed by Folio Number registered with the company For example if folio number is 001 and EVEN is 101456 then user ID is 101456001

Password details for shareholders other than Individual shareholders are given below:
a) If you are already registered for e-Voting, then you can user your existing password to login and cast your vote.
b) If you are using NSDL e-Voting system for the first time, you will need to retrieve the ‘initial password’ which was communicated to you. Once you retrieve your ‘initial password’, you need to enter the ‘initial password’ and the system will force you to change your password.
c) How to retrieve your ‘initial password’?
- (i) If your email ID is registered in your demat account or with the company, your ‘initial password’ is communicated to you on your email ID. Trace the email sent to you from NSDL from your mailbox. Open the email and open the attachment i.e. a .pdf file. Open the .pdf file. The password to open the .pdf file is your 8 digit client ID for NSDL account, last 8 digits of client ID for CDSL account or folio number for shares held in physical form. The .pdf file contains your ‘User ID’ and your ‘initial password’.
- (ii) If your email ID is not registered, please follow steps mentioned below in process for those shareholders whose email ids are not registered.
If you are unable to retrieve or have not received the “ Initial password” or have forgotten your password:
a) Click on “Forgot User Details/Password?” (If you are holding shares in your demat account with NSDL or CDSL) option available on www.evoting.nsdl.com.
b) Physical User Reset Password?” (If you are holding shares in physical mode) option available on www. evoting.nsdl.com.
c) If you are still unable to get the password by aforesaid two options, you can send a request at evoting@ nsdl.co.in mentioning your demat account number/folio number, your PAN, your name and your registered address etc.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

Notice (contd.)

d) Members can also use the OTP (One Time Password) based login for casting the votes on the e-Voting system of NSDL.
After entering your password, tick on Agree to “Terms and Conditions” by selecting on the check box.
Now, you will have to click on “Login” button.
After you click on the “Login” button, Home page of e-Voting will open.

Step 2: Cast your vote electronically and join General Meeting on NSDL e-Voting system.

How to cast your vote electronically and join General Meeting on NSDL e-Voting system?

After successful login at Step 1, you will be able to see all the companies “EVEN” in which you are holding shares and whose voting cycle and General Meeting is in active status.
Select “EVEN” of company for which you wish to cast your vote during the remote e-Voting period and casting your vote during the General Meeting. For joining virtual meeting, you need to click on “VC/ OAVM” link placed under “Join Meeting”.
Now you are ready for e-Voting as the Voting page opens.
Cast your vote by selecting appropriate options i.e. assent or dissent, verify/modify the number of shares for which you wish to cast your vote and click on “Submit” and also “Confirm” when prompted.
Upon confirmation, the message “Vote cast successfully” will be displayed.
You can also take the printout of the votes cast by you by clicking on the print option on the confirmation page.
Once you confirm your vote on the resolution, you will not be allowed to modify your vote.

General Guidelines for shareholders

Institutional shareholders (i.e. other than individuals, HUF, NRI etc.) are required to send scanned copy (PDF/JPG Format) of the relevant Board Resolution/ Authority letter etc. with attested specimen

signature of the duly authorized signatory(ies) who are authorized to vote, to the Scrutinizer by e-mail to Ainesh Jethwa ainesh@csaineshjethwa.com with a copy marked to [email protected]. Institutional shareholders (i.e. other than individuals, HUF, NRI etc.) can also upload their Board Resolution / Power of Attorney / Authority Letter etc. by clicking on “Upload Board Resolution / Authority Letter” displayed under “e-Voting” tab in their login.

It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential. Login to the e-voting website will be disabled upon five unsuccessful attempts to key in the correct password. In such an event, you will need to go through the “Forgot User Details/Password?” or “Physical User Reset Password?” option available on www.evoting.nsdl.com to reset the password.
In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user manual for Shareholders available at the download section of www.evoting.nsdl.com or call on toll free no.: 1800 1020 990 /1800 224 430 or send a request to Tejas Chaturvedi at evoting@nsdl. co.in.

Process for those shareholders whose e-mail IDs are not registered with the depositories for procuring user id and password and registration of e-mail IDs for e-voting for the resolutions set out in this notice:

In case shares are held in physical mode please provide Folio No., Name of shareholder, scanned copy of the share certificate (front and back), PAN (self-attested scanned copy of PAN card), AADHAR (self-attested scanned copy of Aadhar Card) by email to [email protected].
In case shares are held in demat mode, please provide DPID-CLID (16-digit DPID + CLID or 16 digit beneficiary ID), Name, client master or copy of Consolidated Account statement, PAN (selfattested scanned copy of PAN card), AADHAR (selfattested scanned copy of Aadhar Card) to investors @aurumproptech.in. If you are an Individual shareholder holding securities in demat mode, you are requested to refer to the login method explained at step 1 (A) i.e. Login method for e-Voting and joining

Notice (contd.)

virtual meeting for Individual shareholders holding securities in demat mode.

Alternatively shareholder/members may send a request to [email protected] for procuring user id and password for e-voting by providing above mentioned documents.
In terms of SEBI circular dated December 09, 2020 on e-Voting facility provided by Listed Companies, Individual shareholders holding securities in demat mode are allowed to vote through their demat account maintained with Depositories and Depository Participants. Shareholders are required to update their mobile number and email ID correctly in their demat account in order to access e-Voting facility.

THE INSTRUCTIONS FOR MEMBERS FOR E-VOTING ON THE DAY OF THE AGM ARE AS UNDER:

The procedure for e-Voting on the day of the AGM is same as the instructions mentioned above for remote e-voting.
Only those Members/ shareholders, who will be present in the AGM through VC/OAVM facility and have not casted their vote on the Resolutions through remote e-Voting and are otherwise not barred from doing so, shall be eligible to vote through e-Voting system in the EGM/AGM.
Members who have voted through Remote e-Voting will be eligible to attend the AGM. However, they will not be eligible to vote at the AGM.
The details of the person who may be contacted for any grievances connected with the facility for e-Voting on the day of the AGM shall be the same person mentioned for Remote e-voting.

EVOTING RESULTS

The results of e-voting shall be declared not later than 48 hours of conclusion of AGM. The declared results along with Scrutinizer’s Report shall be placed on the website of the Company at https://aurumproptech.in/ and on the website of NSDL at https://www.evoting. nsdl.com. The results shall also be communicated to the Stock Exchanges on which shares of the Company are listed. Subject to receipt of requisite number of votes, resolutions set out in the notice will be deemed to be passed on the date of AGM.

IEPF RELATED INFORMATION

Members who wish to claim dividends that remain unclaimed/ unpaid are requested to write to the Company’s Registrar & Share Transfer Agent or the Company Secretary, at the Company’s Registered email. Members are requested to note that dividends that are not claimed or remain unpaid for seven years from the date of transfer to the Company’s unpaid dividend account will be transferred to the Investor Education and Protection Fund (IEPF). Further, equity shares in respect whereof dividend remains unclaimed / unpaid for seven consecutive years will also be transferred to the IEPF as per Section 124 of the Act read with Rules notified thereunder, as may be amended from time to time.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

Notice (contd.)

EXPLANATORY STATEMENT PURSUANT TO SECTION 102(1) OF THE COMPANIES ACT, 2013

Item No. 3

With reference to the letter of offer of the company dated April 08, 2022 pursuant to which the Company has issued and allotted partly paid equity shares of the Company to its shareholders on a rights basis (Rights Issue).

The Net Proceeds from the Rights Issue were proposed to be utilized by the Company for the following objects:

Development of PropTech products and services (Product Development);
Marketing of PropTech products and services (Product Marketing);
Identified Investments; and
Funding inorganic growth initiatives and other general corporate purposes

Based on the current business plan and various other factors the Board of Directors proposes for, the approval of the shareholders of the Company by way of special resolution for:

i) Change in estimated amount of 3,750 Lakhs of Product Development and of 3100 Lakhs of Product Marketing;
ii) Unutilized amount of Product Development and Product Marketing, to be utilized for funding inorganic growth initiatives and general corporate purposes including repayment of principal and interest on the loans taken by the Company.
iii) Variation in unutilized amount of 389 Lakhs out of 4,200 Lakhs (purchase of equity shares) of Helloworld Technologies India Private Limited to be utilized for growth initiatives and general corporate purposes.
None of the Directors, Key Managerial Personnel of the Company and their relatives are concerned or interested, financially or otherwise in the said resolutions.

The Board recommends the Special Resolution set out in item no. 3 of the Notice for approval by the members.

Item No. 4

The Company is engaged in the business of developing and providing digital technology products, services and platforms with a specific focus on the real estate industry. Its core business is ‘PropTech’ which brings within its ambit the use of technology and software solutions for disparate needs of the real estate sector and offers advanced data and analytics capabilities for real-time feedback.

In furtherance of its business activities, the Company and its Subsidiaries have entered into / will enter into transactions / contract(s) / agreement(s) / arrangement(s) with related parties in terms of Regulation 2(1)(zc)(i) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”).

All related party transactions of the Company and its Subsidiaries are at arm’s length and in the ordinary course of business.

Further, all related party transactions are undertaken after obtaining prior approval of the Audit Committee. The Audit Committee of the Company currently comprises majority of Independent Directors. All related party transactions have been unanimously approved by the Audit Committee after satisfying itself that the related party transactions are at arm’s length and in the ordinary course of business. The Audit Committee of the Company reviews on a quarterly basis, the details of all related party transactions entered into by the Company during the previous quarter, pursuant to its approvals.

The related party transactions between the subsidiaries of the Company are also approved by the audit committee of the Company and the Board of the Company.

In accordance with Regulation 23(2)(c) of the Listing Regulations, approval of the shareholders is being sought for transactions between Subsidiaries of the Company for availing or rendering of services of each other;

The value of related party transactions specified in the Tables below exclude duties and taxes.

The approval of the shareholders pursuant to Resolution No. 4 is being sought for the following related party transactions / contracts / agreements / arrangements set out in Table nos. A1 to A4.

Notice (contd.)

The value of transactions (for which the approval is being sought) for the period commencing from April 01, 2023 till the date of this Notice has not exceeded the materiality threshold.

In addition to the transactions set out in the Tables below, approval of the shareholders is also being sought for any other transactions between the parties for transfer of resources, services and obligations in the ordinary course of business, on arm’s length basis and in compliance with applicable laws, as approved by the Audit Committee. The values of such additional transactions are included in the values set out in each of the Tables below.

The details of transactions as required under Regulation 23(4) of the Listing Regulations read with Section III-B of the SEBI Master Circular bearing reference no. SEBI/HO/ CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 (“SEBI Master Circular”) are set forth below:

A 1. Transaction between Integrow Asset Management Private Limited ( IAML ) and Aurum Analytica Private Limited ( AAPL ) (Formerly known as Blink Advisory Services Private Limited):

Sr Particulars Details no. 1 Name of the related party and its relationship Aurum Analytica Private Limited (AAPL) (Formerly known as with the listed entity or its subsidiary, Blink Advisory Services Private Limited) and Integrow Asset including nature of its concern or interest Management Private Limited (IAML). (financial or otherwise)

AAPL and IAML are fellow subsidiaries.

AAPL is a wholly owned subsidiary of the Company and IAML is a subsidiary of the Company as it has the right at all times to nominate and appoint majority of Directors on the Board of IAML.

The Company holds 100% of the paid-up equity share capital of AAPL and holds 49.13% of paid-up equity share capital of IAML. AAPL is engaged in the business of providing data driven solutions to enable enterprises from various sectors including but not limited to real estate, in engaging and transacting with their customers, channel partners and communities

2 Type, tenure, material terms and particulars

IAML acts as an asset or investment manager, advisor, in respect of various investment or pooled investment vehicles and is engaged in rendering all such services related to portfolio manager of securities to clients in India and abroad IAML will avail the services of:

i) Data acquisition & enrichment and Product development from AAPL.

ii) IT Consultation for Software development, data cleaning from AAPL.

The above arrangements are continuing business transactions. Approval of the shareholders is being sought for transactions during the next 3 financial years i.e., from 2023-24 to 2025-26.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review Governance

Financial Statements

Notice (contd.)

Sr no.	Particulars	Details
3	Value of the proposed transaction	i) The monetary value for availing service of Data Acquisition & Enrichment and Product Development from AAPL to IAML and allied transactions: (a) for 2023-24 is estimated to be`25 Lakhs and<br>(b) for 2024-25 and 2025-26 the value of services is estimated<br>to be`50 Lakhs each year. ii) The monetary value for availing service of IT Consultation for Software development, data cleaning from AAPL to IAML and allied transactions: (a) for 2023-24 is estimated to be`100 Lakhs and<br>(b) for 2024-25 and 2025-26 the value of services is estimated<br>to be`50 Lakhs eachyear.
4	The percentage of the listed entity’s annual consolidated turnover, for the immediately preceding fnancial year, that is represented by the value of the proposed transaction (and for a RPT involving a subsidiary, such percentage calculated on the basis of the subsidiary’s annual turnover on a standalone basis shall be additionally provided)	i) The estimated transaction value for availing of services of Data Acquisition & Enrichment and Product Development from AAPL to IAML and allied transactions for 2023-24 represents: a) 0.20% of the annual consolidated turnover of the Company for 2022-23; b) 14.37% of annual turnover of AAPL for 2022-23 and c) 2.32% of annual turnover of IAML for 2022-23. ii) The estimated transaction value for availing of services of IT Consultation for Software development, data cleaning from AAPL to IAML and allied transactions for 2022-23 represents: a) 0.79% of the annual consolidated turnover of the Company for 2022-23; b) 57.47% of annual turnover of AAPL for 2022-23 and c)9.29% of annual turnover of IAML India for 2022-23.
5	Details of the transaction relating to any loans, inter-corporate deposits, advances or investments made or given by the listed entityor its subsidiary	Not Applicable
6	Justifcation as to why the RPT is in the interest of the listed entity	The related party transaction for software subscription and IT consultation fees between AAPL and IAML is well-founded due to AAPL’s tailored expertise, seamless integration potential, cost-effectiveness, established trust for confdentiality, customization aligned with IAML’s needs, and agile support. This transaction holds the promise of optimizing IAML’s IT infrastructure and operations in a manner that resonates with its core values and objectives, while maintaining transparency and regulatorycompliance.
7	Any valuation or other external party report relied upon by the listed entity in relation to the transactions	Not Applicable
8	Any other information that may be relevant	All relevant / important information forms part of this Statement setting out material facts pursuant to Section 102(1) of the Companies Act,2013.

5 Details of the transaction relating to any Not Applicable loans, inter-corporate deposits, advances or investments made or given by the listed entity or its subsidiary
6 Justification as to why the RPT is in the The related party transaction for software subscription and IT interest of the listed entity consultation fees between AAPL and IAML is well-founded due to AAPL’s tailored expertise, seamless integration potential, cost-effectiveness, established trust for confidentiality, customization aligned with IAML’s needs, and agile support. This transaction holds the promise of optimizing IAML’s IT infrastructure and operations in a manner that resonates with its core values and objectives, while maintaining transparency and regulatory compliance.
7 Any valuation or other external party report Not Applicable relied upon by the listed entity in relation to the transactions
8 Any other information that may be relevant All relevant / important information forms part of this Statement setting out material facts pursuant to Section 102(1) of the Companies Act, 2013.

Notice (contd.)

Mr. Vasant Gujarathi, is an Independent Director of the Company and also a Director of both AAPL and IAML;

Mr. Ramashrya Yadav is a Non-Executive Director of the Company and also a Director of IAML and Mr. Kunal Karan, CFO of the Company, is a Director of AAPL and their relatives, to the extent of their shareholding, if any, may be deemed to be concerned or interested, in the said transactions.

Save and except the above, none of the other Directors / Key Managerial Personnel of the Company / their relatives are, in any way, concerned or interested, financially or otherwise, in the said transactions.

A 2. Transaction between Monk Tech Labs Pte Limited (THML) and Monk Tech Venture Private Limited (MTVL ):

Sr no.	Particulars	Details
1	Name of the related party and its relationship with the listed entity or its subsidiary, including nature of its concern or interest (fnancial or otherwise)	Monk Tech Labs Pte Limited (THML) and Monk Tech Venture Private Limited (MTVL)
		THML and MTVL are fellow subsidiaries. THML and MTVL are subsidiaries of the Company. The Company holds 49.13% of paid-up equity share capital of THML and holds 51% ofpaid-upequityshare capital of MTVL.
2	Type, tenure, material terms and particulars	Type,tenure,material terms andparticulars
		THML is engaged in the business of Development of Software and Applications for real estate business.
		MTVL is engaged in the business of software development, management consultancyand marketingsupport services.
		THML will avail the service of Software development, sales and marketing,allied services from MTVL
		The above arrangements are continuing business transactions. Approval of the shareholders is being sought for transactions duringthe next 5 fnancialyears i.e.,from 2023-24 to 2027-28.
3	Value of the proposed transaction	The monetary value for availing service of the service of marketing Software development & support services from MTVL to THML and allied transactions: (i) for 2023-24 is estimated to be`600 Lakhs and
		(ii) for 2024-25 to 2027-28 the value of service is estimated to be `4,030 Lakhs in total
4	The percentage of the listed entity’s annual consolidated turnover, for the immediately preceding fnancial year, that is represented by the value of the proposed transaction (and for a RPT involving a subsidiary, such percentage calculated on the basis of the subsidiary’s annual turnover on a standalone basis shall be additionally provided)	i) The estimated transaction value for availing of the services of marketing Software development & support services from MTVL to THML and allied transactions for 2023-24 represents: a) 4.73% of the annual consolidated turnover of the Company for 2022-23; b) MTVL incorporated on April 10, 2023, accordingly the percentage of Annual Turnover is not applicable. c)168.54% of annual turnover of THML India for 2022-23.
5	Details of the transaction relating to any loans, inter-corporate deposits, advances or investments made or given by the listed entityor its subsidiary	Not Applicable

(ii) for 2024-25 to 2027-28 the value of service is estimated to be ` 4,030 Lakhs in total
4 The percentage of the listed entity’s annual i) The estimated transaction value for availing of the services consolidated turnover, for the immediately of marketing Software development & support services from preceding financial year, that is represented MTVL to THML and allied transactions for 2023-24 represents: by the value of the proposed transaction a) 4.73% of the annual consolidated turnover of the Company
(and for a RPT involving a subsidiary, such for 2022-23;
percentage calculated on the basis of the subsidiary’s annual turnover on a standalone b) MTVL incorporated on April 10, 2023, accordingly the basis shall be additionally provided) percentage of Annual Turnover is not applicable.
c) 168.54% of annual turnover of THML India for 2022-23.
5 Details of the transaction relating to any Not Applicable loans, inter-corporate deposits, advances or investments made or given by the listed entity or its subsidiary

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review Governance

Financial Statements

Notice (contd.)

Sr no.	Particulars	Details
6	Justifcation as to why the RPT is in the interest of the listed entity	The rationale behind the related party transaction involving software development and marketing services between THML and MTVL is frmly grounded in the benefts it brings, encompassing expertise, cost-effectiveness, harmonious collaboration, confdentiality, tailored solutions, adaptability, and swift market entry. This transaction, conducted in full transparency and compliance with applicable regulations, holds the potential to culminate in the triumphant launch of a software product and a meticulously crafted marketing campaign, seamlesslyaligned with THML’s coregoals andprinciples.
7	Any valuation or other external party report relied upon by the listed entity in relation to the transactions	Not Applicable
8	Any other information that may be relevant	All relevant / important information forms part of this Statement setting out material facts pursuant to Section 102(1) of the Companies Act,2013.

Mr. Kunal Karan, CFO and Mr. Onkar Shetye, Executive Director of the Company are also Directors of MTVL and THML; and their relatives, to the extent of their shareholding, if any, may be deemed to be concerned or interested in the said transactions.

A3. Transaction between Vartaman Consultants Private Limited (VCPL) and Intergrow Asset Management Private Limited (IAML):

Sr no.	Particulars	Details
1	Name of the related party and its relationship with the listed entity or its subsidiary, including nature of its concern or interest (fnancial or otherwise)	Vartaman Consultants Private Limited (VCPL) and Integrow Asset Management Private Limited (IAML). VCPL and IAML are fellow subsidiaries. VCPL is the wholly owned subsidiary of the Company. IAML is a subsidiary of the Company as it has the right all times to nominate and appoint majority of Directors on the Board of IAML and The Company holds 49.13% of paid-up equity share capital of IAML and holds 100% ofpaid-upequityshare capital of VCPL.
2	Type, tenure, material terms and particulars	VCPL is engaged in the business of marketing, advertising, website solutions, digital media, ecommerce, advisory and consultancyservices.
		IAML acts as an asset or investment manager, advisor, in respect of various investment or pooled investment vehicles and is engaged in rendering all such services related to portfolio manager of securities to clients in India and abroad.
		IAML will avail service of Marketing and distribution of Advertisement and Media service from VCPL.
		The above arrangements are continuing business transactions. Approval of the shareholders is being sought for transactions duringthe 3 fnancialyears i.e.,from 2023-24 to 2025-26.

Notice (contd.)

Sr	Particulars	Details
no.
3	Value of the proposed transaction	The monetary value for availing service of Marketing and
		distribution of Advertisement and Media service from VCPL to
		IAML and allied transactions:
		(i) for 2023-24 is estimated to be`300 Lakhs and
		(ii) for 2024-25 and 2025-26 the value of service is estimated to
		be`500 Lakhs eachyear.

4 The percentage of the listed entity’s annual The estimated transaction value for availing of services consolidated turnover, for the immediately of Marketing and distribution of Advertisement and Media preceding financial year, that is represented service from VCPL to IAML and allied transactions for 2023-24 by the value of the proposed transaction represents: (and for a RPT involving a subsidiary, such a) 2.36% of the annual consolidated turnover of the Company
percentage calculated on the basis of the for 2022-23;
subsidiary’s annual turnover on a standalone basis shall be additionally provided) b) 172.41% of annual turnover of VCPL for 2022-23 and c) 30000% of annual turnover of IAML India for 2022-23.
5 Details of the transaction relating to any Not Applicable loans, inter-corporate deposits, advances or investments made or given by the listed entity or its subsidiary
6 Justification as to why the RPT is in the The transaction involving marketing and distribution services interest of the listed entity between IAML and Vartaman Consultants Private Limited finds its basis in their inherent synergy and shared corporate environment. Drawing on their profound understanding of the parent company’s brand, audience, and strategy, this transaction enables a harmonious collaboration that enhances the effectiveness of marketing endeavors and distribution networks.
7 Any valuation or other external party report Not Applicable relied upon by the listed entity in relation to the transactions
8 Any other information that may be relevant All relevant / important information forms part of this Statement setting out material facts pursuant to Section 102(1) of the Companies Act, 2013.

Mr. Vasant Gujarathi is an Independent Director, Mr. Ramashrya Yadav, Non-Executive Director of the Company are also Directors of IAML,

Mr. Kunal Karan being CFO and Mr. Srirang Athalye, Director of the Company are also Directors of VCPL and his relatives, to the extent of their shareholding, if any, may be deemed to be concerned or interested, in the said transactions.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review Governance

Financial Statements

Notice (contd.)

A 4. Transaction between K2V2 Technologies Private Limited (K2V2) and Integrow Asset Management Private Limited (IAML):

Sr	Particulars	Details
no.
1	Name of the related party and its relationship	K2V2 Technologies Private Limited (K2V2) and Integrow Asset
	with the listed entity or its subsidiary,	Management Private Limited (IAML).
	including nature of its concern or interest (fnancial or otherwise)	The Company holds 44.44 % of paid-up equity share capital of K2V2 and holds 49.13% of paid-up equity share capital of IAML.
		K2V2 and IAML are fellow subsidiaries.
		K2V2 and IAML are subsidiaries of the Company as the Company
		has the right all times to nominate and appoint majority of
		Directors in K2V2 and IAML
2	Type, tenure, material terms and particulars	K2V2 is engaged in the business of development of software development and technology products used in the feld of real
		estate.
		IAML acts as an asset or investment manager, advisor, in
		respect of various investment or pooled investment vehicles
		and is engaged in rendering all such services related to portfolio
		manager of securities to clients in India and abroad
		IAML will avail service of Sales, CRM and Subscription of Sell.do
		and Kylas CRMproduct from K2V2 .
		The above transactions will be at market price. The above
		arrangements are continuing business transactions. Approval
		of the shareholders is being sought for transactions during the next 3 fnancialyears i.e.,from 2023-24 to 2025-26.
3	Value of the proposed transaction	The monetary value for availing service of Sales, CRM,
		Subscription of Sell.do and Kylas CRM product from K2V2 to
		IAML and allied transactions:
		(i) for 2023-24 is estimated to be`25 Lakhs and
		(ii) for 2024-25 and 2025-26 the value of service is estimated to
		be upto`25 Lakhs eachyear.

4 The percentage of the listed entity’s annual The estimated transaction value for availing of services of consolidated turnover, for the immediately Sales, CRM, providing Subscription of Sell.do and Kylas CRM preceding financial year, that is represented product from K2V2 to IAML and allied transactions for 2023-24 by the value of the proposed transaction represents: (and for a RPT involving a subsidiary, such a) 0.20% of the annual consolidated turnover of the company for
percentage calculated on the basis of the 2022-23;
subsidiary’s annual turnover on a standalone basis shall be additionally provided) b) 14.37 % of annual turnover of K2V2 for 2022-23; and

Notice (contd.)

Sr no.	Particulars	Details
7 8	Any valuation or other external party report relied upon by the listed entity in relation to the transactions	Not Applicable
	Any other information that may be relevant	All relevant / important information forms part of this Statement setting out material facts pursuant to Section 102(1) of the Companies Act,2013.

Mr. Vasant Gujarathi is an Independent Director; Mr. Ramashrya Yadav, Non-Executive Director of the Company are also Directors of IAML;

Mr. Kunal Karan CFO, Mr. Ajit Joshi, an Independent Director of the Company are also Directors of K2V2 to the extent of their shareholding, if any, may be deemed to be concerned or interested, in the said transactions.

Pursuant to Regulation 23 of the Listing Regulations, Members may also note that no related party of the Company shall vote to approve the Ordinary Resolutions set out at Item No. 4 whether the entity is a related party to the particular transaction or not.

The Board commends the Ordinary Resolutions set out at Item No. 4 of the Notice for approval by the Members.

By Order of the Board For Aurum PropTech Limited

Onkar Shetye

Place: Navi Mumbai Date: July 18, 2023 Registered office: Aurum Q1, Aurum Q Parć, Thane Belapur Road, Navi Mumbai 400 710 (CIN): L72300MH2013PLC244874 https://aurumproptech.in/

Executive Director DIN: 06372831

E-mail: [email protected]

c) 0.49 % of annual turnover of IAML India for 2022-23.
5 Details of the transaction relating to any Not Applicable loans, inter-corporate deposits, advances or investments made or given by the listed entity or its subsidiary
6 Justification as to why the RPT is in the The transaction between K2V2 and IAML capitalizes on K2V2’s interest of the listed entity specialized software offering, tailored to meet the unique operational needs of the IAML. This arrangement not only fosters seamless integration due to their shared understanding of the company’s processes but also ensures cost-effectiveness, direct technical support, and the preservation of sensitive data within the secure confines of the corporate network. By leveraging this related party transaction, both subsidiaries can optimize their resource allocation and collaboration while maintaining adherence to regulatory standards.

Aurum PropTech Limited Annual Report 2022-23

ANNEXURE TO ITEM NO. 2

As required under Regulation 36 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) and as required under Secretarial Standard on General Meetings issued by the Institute of Company Secretaries of India (SS–2), the particulars of Directors who are proposed to be appointed / reappointed, are given below:

Sr no.	Particulars	Details of Mr. Ramashrya Yadav
1.	DIN	00145051
2.	Category	Non-Executive Director
3.	Date of Birth	20-08-1974
4.	Age	49 Years
5.	Nationality	Indian
6.	Qualifcations	Alumnus of Harvard Business School
7.	Experience (including expertise in specifc functional area)/ Brief Resume	Mr. Ramashrya Yadav has an extensive experience of 22 Years in the feld of Construction,Real Estate,Banking& Investment.
8.	Terms and Conditions of Appointment	Non-Executive Director liable to retire byrotation
9.	Remuneration last drawn (including sitting fees, if anyfor F.Y 2022-2023)	`3,00,000/-
10.	Remunerationproposed to bepaid	Sittingfees for Board and Committee Meetings.
11.	Date of frst appointment on the Board	23-07-2021
12.	Shareholdingin the Companyas on date of Notice	47,900 shares
13.	Relationship with other Directors / Key Managerial Personnel	None
14.	Number of meetings of the Board attended during the fnancialyear(2022-23)	Four
15.	Directorships of other Boards	1) Aurum PropTech Limited 2) Integrow Asset Management Private Limited 3) Eleven Point Two Capital Advisory Services Private Limited
16.	Chairman/ Member in the committees of Board of other Companies in which he is the Director	Aurum PropTech Limited Investors’ Grievances and Stakeholders’ Relationship Committee - Chairman. Corporate Social ResponsibilityCommittee- Member

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Unleashing Potential: igniting growth annUal rePort 2022-23

Across the PAges

01-36 Company Overview

Aurum PropTech 2 Ecosystem Snapshot

Aurum Group: 3 Unleashing Potential. Creating Long-Term Value. Aurum Group’s 4 Inspiring Growth Journey Group CEO ’s Communique 6 A Journey of Growth 10 Aurum Ecosystem 11

Catalyzing the Growth of Real Estate 12 through PropTech Innovations

The Aurum Approach 13 Value Creation Model 14 Our GRC Framework 15 Business Overview 18 Unleashing Purpose Beyond Profit 30 Board of Directors 34 Company Information 36

37-45 Management Review

Management Discussion & Analysis 37 Technology, Capital & Services 40 Governance, Risk and Compliance 41

Governance

46-94 Governance Board’s Report 46 Corporate Governance Report 68

96-215 Financial Statements

Click the link below for more information: https://www.aurumproptech.in/

Or scan this QR code:

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Investor Information

Investor Information
CIN	L72300MH2013PLC244874
BSE Code	539289
NSE Symbol	AURUM
Bloomberg Code	AURUM:IN
AGM Date	September 28, 2023
AGM Venue	Video Conferencing

Disclaimer: This document contains statements about expected future events and financials of Aurum Proptech Limited (‘The Company’), which are forward-looking. By their nature, forwardlooking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is a significant risk that the assumptions, predictions, and other forward-looking statements may not prove to be accurate. Readers are cautioned not to place undue reliance on forwardlooking statements as several factors could cause assumptions, actual future results, and events to differ materially from those expressed in the forward-looking statements. Accordingly, this document is subject to the disclaimer and qualified in its entirety by the assumptions, qualifications, and risk factors referred to in the Management Discussion and Analysis section of this annual report.

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Unleashing Potential: igniting growth

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Aurum PropTech (‘Aurum’ or ‘The Company’) is a new-age PropTech company dedicated to revolutionizing the real estate industry. The Company is building a comprehensive PropTech ecosystem that combines tech expertise with a real estate domain journey that elevates the experience for creators, consumers, and capital allocators. At the nexus of technology and innovation lies Aurum PropTech, where we are diligently crafting an integrated PropTech ecosystem that spans the entire spectrum of real estate value creation.

We build and operate PropTech products, services, and platforms catering to the intricacies of the B2B, B2C, B2B2C, and D2C Real Estate Value Chains. Our comprehensive suite of integrated ecosystems incorporates cutting-edge technologies such as Artificial Intelligence, Machine Learning, Blockchain, Augmented Reality, and Virtual Reality. This robust portfolio addresses the needs of both individual consumers and enterprises, providing a holistic array of services.

Driving this vision forward is a seasoned leadership team that boasts an impressive track record of leveraging strategic technological integrations to reshape the real estate landscape. At Aurum PropTech, we are firm believers that anchoring people at the core of technological advancements is the pivotal approach to ushering in a brighter tomorrow. We believe that putting people at the heart of technology is the way to prepare them for a better future.

Standalone 96 Consolidated 154

Notice 217

Aurum Proptech limited Annual Report 2022-23

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Aurum ProPtech ecosystem snAPshot

Collective Power of the ecosystem being harnessed through our data strategy…

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RaaS
+
13
17 4,300+
CItIes ACtIve PROduCts
CustOmeRs
SaaS
50+ 520+
CItIes ACtIve +
CustOmeRs 600
ReAl estAte
develOPeR RelAtIOns
11,200+
CO-lIvIng Beds
CAPACIty
+
7,500
ChAnnel
PARtneRs
5,000+
APARtments BOOked
tO dAte
+
80,000
3,000+ ACtIve hOme
vAlue Of APARtments BuyeRs
RegIsteRed & InvOICed
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Aurum grouP: unleAshing PotentiAl. creAting long-term VAlue.

Aurum Ventures is a homegrown, privately held Real Estate Investment and Development company in India. Founded in 1996 and headquartered in Mumbai, Aurum Ventures focuses on all aspects of value creation in Real Estate and PropTech businesses.

our mission

led by technology, Capital, and entrepreneurship, Aurum is on a mission to create a tech-led disruption through its Real estate ecosystem, focusing on enhancing customer experience and increasing operational efficiencies.

Aurum is an Impact Investor with a focus on long-life, highquality assets in special situations in India. Our investments are constructive and high value in exit potential while being conservative in entry pricing, with each investment having a horizon of a decade.

We allocate capital and empower teams across all our businesses, be it Real estate projects or Proptech products.

Aurum’s Portfolio

Aurum’s Presence

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Real Estate
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Commercial Residential Lifestyle
Real Estate Real Estate Retails
Mineral Optic Telecom
Exploration Fiber
Renewable
Aviation
energy
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PropTech Philanthropy
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our group Values

Aurum values are an amalgamation of what we have been, what we are, and what we want to be. Our commitment to building sustainable businesses rests upon a set of core values.

Empowerment Transparency Speed Hard Work Passion

These values are the compass that guides our personal and corporate actions.

Aurum Proptech limited Annual Report 2022-23

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2014

Aurum grouP’s insPiring growth Journey

1999

Optic fiber network

mumbai from Capitaland

2018

2006

mumbai. Ascendas singbridge,

spiceJet

2009

2021

Acquired majesco limited, which

7 marine drive

2011

2023

Acquired a 14% stake in shriram Properties from Walton st. Capital and

Renew Power

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grouP ceo’s

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the bold Vision of our country’s leAdershiP in the PriVAte And Public sector, couPled with the hunger for digitAl AccelerAtion, is setting us uP to grow 10 times oVer the next 25 yeArs. we Are now tArgeting to be A usd 35 trillion economy by 2047.

dear shareholders,

It gives me immense pleasure to connect with you in the rapid evolution of the sector and the exponential journey of your organization. Just over two years since Aurum took over Majesco Limited and then built PropTech ecosystem in your Company. Over a short period of time, we are now team of 700+ people, 13+ products, cultivated relationships with 5000+ customers and established our presence in 17+ Cities.

global economic landscape

The first half of 2022 presented significant challenges for the global economy, as it grappled with conflicts, supply disruptions, and inflation. To control the escalating inflation, central banks worldwide implemented tighter monetary policies, which led to interest rate hikes and a subsequent dampening of demand. Over time, China began experiencing a gradual recovery, and the resolution of supply chain disruptions improved the scenario. Despite all the hurdles, the International Monetary Fund (IMF) anticipates a global economic growth rate of 2.8% in 2023, accompanied by decreasing inflation rates and the potential for future stability. The growth is expected to be driven by developing and emerging economies, particularly in the Asia-Pacific (APAC) region.

the great Indian economic Juggernaut

India has emerged as a strong force, solidifying its position and surpassing the UK to become the fifthlargest economy. Some factors that have contributed to this achievement include increased capital expenditure, foreign investments, higher domestic consumption, and most importantly favourable government policies.

The bold vision of our country’s leadership in the private and public sector, coupled with the hunger for digital acceleration, is setting us up to grow 10 times over the next 25 years. We are now targeting to be a USD 35 trillion economy by 2047.

Real estate growth Potential

Amidst challenges such as escalating construction costs and a substantial 225 basis point rise in the repo rate during 2022, the real estate sector showed remarkable resilience. After enduring an extended period of economic stagnation, the housing market was revitalized by an impressive 40% upswing in residential activity across Tier I, II, and III cities.

The RBI’s repo rate hikes led to marginal increases in home loan interest rates, yet these changes barely dented sales or customer sentiment. Notably, government policy interventions like the Smart Cities Mission and AMRUT have set the stage for heightened demand.

On the commercial real estate front also, the country witnessed significant growth in office and retail segments. Enhanced absorption rates, reduced vacancy levels, attractive ROI, and increased NRI and FDI investments, aided by government infrastructure initiatives, have collectively driven the expansion in the office space domain. As this positive momentum takes root, the trajectory of growth is poised to grow the Real Estate sector to USD 5.8 trillion by 2047.

digital transformation

In the bustling urban landscapes of India, a revolution has been taking place, one that has transformed the way people search for their dream homes. With more than 75% of buyers now turning to digital channels, the traditional quest for a new abode has taken a leap into the digital age.

A staggering 50% of homebuyers have embraced the innovation of virtual tours, allowing them to explore and experience potential homes from the comfort of their current homes. These digital journeys have become an essential step before making the big decision of property purchase, providing an immersive understanding of what could be their future sanctuaries.

But the digitization wave hasn’t been confined to just the surface level. The Digital India Land Records Modernization Programme has achieved a remarkable feat, digitizing 90% of land records across the nation. This monumental effort has not only streamlined property transactions but has also laid a robust foundation for a transparent and efficient real estate ecosystem.

Behind the scenes, real estate agents have also embraced the digital tide. Almost half of them, around 44%, have integrated automated tools into their workflows, revolutionizing lead generation and customer relationship management. This transition has not only increased efficiency but has also elevated the homebuying experience, offering prospective buyers tailored options that align with their preferences.

Aurum Proptech limited Annual Report 2022-23

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The financial landscape has also experienced a shift, with a staggering 87% adoption of FinTech in India, a figure that stands proudly above the global average of 64%. This embrace of financial technology has paved the way for smoother transactions, quicker approvals and a seamless fusion of financial services with the real estate sector.

India’s digitization journey showcases a nation propelled by innovation and determination. From virtual tours that bring homes to life, to digitized land records that instill trust and the embrace of technology by both agents and buyers alike, India’s path towards a digital future is not only transforming the real estate industry but also setting new benchmarks for the global arena.

deepening Proptech

Aurum’s journey began with a profound realization that technology holds the potential to reshape every facet of the real estate value chain. We embarked on a mission to harness this potential and create a tidal wave of change across the industry.

In a world where possibilities are limitless and boundaries are blurred, we have strategically positioned ourselves to lead the PropTech landscape. Our business portfolio, meticulously crafted, encompasses approximately 75% of the PropTech market potential in India. A trilogy forms the foundation of Aurum’s approach: Technology, Services and Capital.

From immersive virtual tours that allow home buyers to traverse their dream homes without stepping out, to smart property management systems that streamline the landlord-tenant relationship, our technological innovations are reshaping the way properties are perceived, transacted and managed.

However, our vision does not stop at technology. We recognize that a truly transformative experience extends towards personalization, thus we have intricately woven services into our portfolio. Channel partners find themselves armed with tools that enable their lead generation and customer relationship management, unlocking new levels of efficiency and success.

Developers, once limited by traditional processes, now find themselves thrusted forward by Aurum’s solutions. Home buyers step into a new era, where virtual tours are not just a novelty, but an essential stepping stone towards confident decision-making.

And at the heart of it all stands our third pillar of strategy: Capital. We are not only well equipped with the capital to drive change, but also are proud to have become a catalyst for the industry’s growth as an efficient capital allocator.

Our growth strategies

We have implemented three growth strategies that leverage the advantages of a strong ecosystem:

The data monetization strategy aims to enhance efficiency and elevate customer experience by consolidating consumer behavior and supplydemand patterns.

Through our network effect strategy, we capitalize on the synergies that arise when different products within a network complement and enhance each other’s value proposition. This can yield several benefits such as cost efficiencies, increased customer value, widened market reach, data synergies and innovation acceleration.

Our Profitable Growth strategy centers around the cautious yet aggressive expansion of our existing product offerings. We have adopted a more measured

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In A WORld WheRe

POssIBIlItIes ARe lImItless And BOundARIes ARe BluRRed, AuRum hAs stRAtegICAlly POsItIOned Itself tO leAd the PROPteCh lAndsCAPe. OuR BusIness PORtfOlIO, metICulOusly CRAfted, enCOmPAsses APPROxImAtely 75% Of the PROPteCh mARket POtentIAl In IndIA.

approach to ensure long-term profitability that involves conservative resource allocation, controlled cash burn and a profit-centric with a keen eye on the unit economics.

Acquisitions

We made significant acquisitions within the PropTech sector, specifically MYRE Capital and NestAway. In a successful transaction, we successfuly obtained valuable assets and a cutting-edge technology platform from MYRE Capital, which enables investors to engage in fractional ownership of commercial properties.

We also undertook the rebranding of MYRE Capital as Aurum WiseX, a digital distribution vertical specializing in real estate investments. Within Aurum WiseX, we are proud to introduce our flagship platform, ‘YieldWiseX,’ which will provide customers with a wide range of offerings, including commercial real estate and lease rental discounting (LRD) structured debt. Our overarching vision entails establishing Aurum WiseX as a global leader in commercial real estate and alternative investments. By prioritizing value creation, fostering innovation, and pursuing expansion, we aim to present our customers with lucrative investment prospects through the tech-enabled platform, YieldWiseX.

Furthermore, we have successfully acquired a majority stake of NestAway Technologies, India’s leading rental management platform, by conducting a buyout of existing shareholders. This acquisition involved a consideration of up to ` 90 Crore. Currently, features an impressive portfolio of 18,000 properties. The entity’s vision has consistently centered around revolutionizing urban living by providing convenient, affordable and hassle-free housing solutions for people. The techdriven approach in the rental housing market resonates perfectly with our mission of transforming, innovating and leading the residential rental industry in India.

governance, Risk, and Compliance

Effective governance forms the bedrock for the success of thriving businesses. It serves as the sustainable foundation that supports all aspects of a company. We have established a Governance, Risk, and Compliance (GRC) framework, that embraces the finest practices in five key areas: Intellectual Capital, Human Capital, Social and Brand Capital, Ecosystem Capital and Financial Capital. Our unwavering commitment lies in delving into

each of these initiatives meticulously in the forthcoming years, ensuring that our fundamental principles of transparency, empowerment, speed, focus, hard work, passion, and caring for one another are effectively exemplified.

Aurum

The Aurum Benevolence Tidings of 2023 marks a significant milestone for Aurum Neev, the philanthropic arm of Aurum. Guided by our IKIGAI, Aurum focuses on six core pillars: tree plantation, green design, nutritious meals, safe man hours, girls’ education and medical interventions.

Some noteworthy achievements include planting 50,000 trees through the Global Vikas Trust and obtaining LEED Platinum certification for our commercial building at the Q Parc campus. Collaborating with organizations like ‘Roti Bank’ and RSS Jan Kalyan Samiti, at Aurum PropTech, we have provided over 1,10,000 nutritious meals and catered to the healthcare needs of two communities. We have also prioritized safety, accumulating an impressive record of 18 million safe man-hours. Driven by the ‘Beti Bachao Beti Padhao’ program, Aurum is committed to educating and nurturing girl students. We have already contributed over 200 girl education years and are working towards providing 8,000+ education years by 2026. Additionally, during the pandemic, Aurum administered 2,000 free Covid vaccinations and collaborated with the Rotary Club to provide essential healthcare equipment to the GMC Hospital in Akola. Our dedication to saving lives was further demonstrated through a successful blood donation camp with over 213 donors.

Closing note

I extend my heartfelt appreciation to our shareholders, stakeholders and my dedicated team members for their unwavering support. Together, we have achieved milestones and embraced opportunities to drive growth. We will continue striving for excellence, innovation and sustainability, creating long-term value for all stakeholders. Thank you for your confidence in Aurum PropTech.

Ashish deora,

Founder & Group CEO

Aurum Proptech limited Annual Report 2022-23

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A Journey of growth

Aug 2020 March-June 2021 July 2021

June 2015

Dec 2021 Oct 2021 Oct 2021 Aug 2021

April 2022 April 2022 May 2023 June 2023

Aurum ecosystem

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Student Tenant
(16-20y) Developers
Working
Professional
Tenant (20-26y)
Channel
Partners
Family Tenant
(25-35y)
Property
Managers
Property
Lessor (40y+)
Home Buyer
(30y+)
Asset
Home Seller
Management
(40y+)
Bank & NBFCs
HNIs
Family Offices
s
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the Aurum APProAch

through ProPtech innoVAtions

Aurum PropTech embarked on its journey with a profound realization that technology possesses the power to reshape every facet of the real estate value chain. This revelation ignited our mission to harness this potential and catalyze a transformative wave across the industry.

Aurum Proptech limited Annual Report 2022-23

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VAlue creAtion model

Inputs

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mission
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finAnciAl cAPitAl

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To achieve its ambition of creating an integrated PropTech ecosystem, Aurum has committed

To be the Most Preferred PropTech Company

₹ 15,760 lakhs

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value Creation Approach
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Committed

₹ 3,750 lakhs in Product Development

An Ecosystem of End-toEnd Solutions

humAn cAPitAl

Talents

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technology
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700+

Increasing Business Efficiency through Our Robust Ecosystem

Inclusiveness

Employee Benefit Expense ₹ 5,558 lakhs

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Capital
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intellectuAl cAPitAl

Enabling Data-driven Investments

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First Patent Filed IPs: 15+

Output

finAnciAl cAPitAl

Operating Revenue

₹ 12,687 Lakhs up 703% Y-o-Y

Total Income

₹ 13,905 Lakhs up by 162% Y-o-Y

humAn cAPitAl

Great Place to Work Institute (GPTW) recognition

Culture and Domain Initiative

Aurum uni

intellectuAl cAPitAl

Data as a Service

Proptech Pulse

our grc frAmework

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governance
Risk and
Intellectual Compliance (gRC) Financial
Capital Capital
framework
Human Ecosystem
Capital Capital
Social Capital and
Brand Capital
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Intellectual Capital

ecosystem cAPitAl

Aurum Entrprenuers Forum RaaS:

17+ cities

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service
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Enhancing the Customer Experience

ecosystem cAPitAl

13+ Products

Leveraging the Collaborative Synergy

We foster a culture of innovation, protect and manage intellectual property, and cultivate strong relationships across our ecosystem. Aurum's Data as a Service strategy capitalizes on a harmonious blend of data science, strategic insight, and organized structure. This synergistic approach transforms data sets into comprehensible and actionable resources within the ecosystem.

SaaS:

50+ cities

sociAl And relAtionshiP cAPitAl

No. of Shareholders

89,964

Aurum Service Fortnight

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sociAl And relAtionshiP cAPitAl

Strong Trust-based Relationships Sustainable Technology

Our DaaS platform has been laid on Objectives of our DaaS strategy a strong foundation of Data Science Infrastructure: Compliance and Driving Growth: Customer Experience Process and Analytics Network, Data Governance Around Faster GTM, Enhancement: Higher Efficiency: Expertise Storage and Data: Privacy, Security, Penetration & LTV Due To Retention Insights Centric Compute Confidentiality Cross-Selling And Loyalty Decision Making Opportunities

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Human Capital

empowered, ultimately contributing to their overall job satisfaction and well-being. Aurum Uni underscores its dedication to creating a thriving workplace culture and fostering the professional growth and development of its team members.

Aurum PropTech’s human capital has achieved notable recognition as a Great Place to Work, reflecting the positive and supportive environment that our Company fosters for our team members. This recognition signifies that Aurum is committed to creating a workplace where team members feel valued, engaged, and

Social and Brand Capital

governance is pivotal. This integration is the compass guiding our path to enduring success, unwavering competitiveness, and sustainable operations.

growth of others is the key to our advancement.

Aurum maintains an unshakable commitment to ensuring the utmost satisfaction of our customers and shareholders. Our core belief resonates strongly: nurturing the

We are acutely aware that weaving social, environmental, and ethical responsibilities into our business

For more information kindly refer to page number 30

Financial Capital

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Revenue (in ₹ Crore)
45
39
28
703%
y-O-y gROWth
15
In OPeRAtIng
Revenue
8
March June Sept Dec Mar
2022 2022 2022 2022 2023
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Ecosystem Capital

Aurum Portfolio

Inspired by this enormous potential, Aurum Proptech is nurturing a portfolio of exciting businesses that will lead the Proptech revolution in India.

technology				India’s largest Real Estate CRM for developers and channel partners

				Tech-driven sales, marketing, and broker aggregation services for developers

				Data science-driven solution that accelerates performance marketing and channel sales
				Digital transaction platform for primary residential properties
				B2B SaaS product for rental properties and tenant community management
				B2B SaaS product for commercial property management
services				One of the largest co-living operators in India
				Leading residential rental platform and PropTech brand in India
				Automated Valuation Model (AVM) powered transaction platform
Capital				Tech-driven real estate asset management company
				A neo-realty investment platform
				Digital lending platform powered by Al-driven recommendation engine

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business oVerView

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k2v2 technologies
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Vision

To enhance the overall client relationship experience of the real estate ecosystem

The flagship product combines deep industry knowledge and brings in technological expertise to build an integrated solution for the real estate ecosystem. The software comprises sales, marketing, and post-sales modules with real estate user journeys. It has product modules for developers as well as channel partners.

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mission

To create an intuitive and streamlined platform that makes managing customer relationships simple.

mission

highlights of k2V2 (2022-2023)

CROssed ` 51 Crore

` 150 Crore mOnthly AveRAge gtv

Revenue

A discovery and transaction platform that matches channel partners and real estate buyers, enabling an informed purchase experience, while augmenting sales velocity

A tech-driven platform that enables collaboration between Real Estate Developers and channel partners to provide seamless end-to-end offering for the home seeker

strAtegic AdVAntAges And comPetitiVe strengths

Only RE specific CRM : End-to-end features with inquiry to possession management on a single platform.

Quick onboarding process: Streamlined Quick onboarding process ensures a seamless and efficient start for users

Product expertise: Deep understanding of the real estate industry and its changing trends.

Innovation: Incorporating latest technologies (such as AI) to enchance customer experience.

Broader market Access: We offer a wide network of brokers (5000+), projects (100+) providing more choices to all stakeholders, including buyers and developers.

Efficiency and Convenience: Streamlined processes and digital transactions make property dealings faster and more convenient.

Cost savings: Reduced paperwork and streamlined processes often result in cost savings for all parties involved.

market transparency: These platforms enhance market transparency, fostering trust among participants.

data Insights: Access to market data and trends helps brokers and clients make informed decisions.

oPerAting model

SaaS - Licenses/User-based pricing, Pay as You Go

highlights

South market leadership position strengthened Large customers closed

oPerAting model

Beyondwalls works with real estate developers to sell their primary residential apartments through successbased transaction fee model.

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Integrow Asset management
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strAtegic AdVAntAges And comPetitiVe strengths

Vision

Democratizing real estate investments through financialization

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mission

Ensuring every Indian has a real estate-backed investment wallet

highlights in 2022-2023

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enriched database of 500+ prospective investors; also onboarded 12+ IfAs to
3
increase investor reach out
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ecosystem
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technology
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Access to a holistic real estate ecosystem, including planning, execution, and sales embedded with property technology (PropTech).

Technology-led analytics is at the core of our business to make faster and better decisions. Focused on risk mitigation, and security enhancement in our effort to create constant alpha by improving ‘Exit Path Attributes’.

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expertise
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Sector-focused monetizable trends in real estate. Poised and prepared to cover multiple asset classes within real estate space such as residential, office, warehousing, modern living, modern working, senior living, and student housing through multiple highly governed and regulated products such as Alternatives, PMS, Fixed Income, and REITs.

Due to the peculiar nature of inconsistencies in managing cashflows in real estate projects, banks, and shadow banks face challenges in Asset Liability Management (ALM), which significantly hamper their ability to increase their real estate exposure. This has paved the way for alternatives to emerge as a significant source of financing for the real estate sector.

Provide capital as a service for various domains of real estate like residential, commercial, co-living, and commercial by creating financial products suitable for investors.

oPerAting model

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monk tech labs
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Vision

To create harmony between people and real estate

mission

To empower real estate businesses to deliver unforgettable customer experiences

strAtegic AdVAntAges And comPetitiVe strengths

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early mover Advantage
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Gained a significant edge by being one of the few companies to concentrate on the Asian market. This early mover advantage has established a strong foothold and build market leadership in the region.

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market dynamics
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oPerAting model
software delivered to customers
through a subscription and/or
licensing model.
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Products

the housemonk

highlights in fy 2022-2023

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1 70% increase in y-o-y growth in revenue
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5
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The rental real estate industry in Asia is undergoing a transformative shift. As formalization takes center stage, it gives proper emergence to segments like student housing, coliving, and other rental residential segments and we stand at the cross point of all this change. We’ve managed to be at the right place at the right time.

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Breadth and depth of Products
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Our product portfolio spans a wide range of solutions designed to address the diverse needs of our clients in the rental real estate industry. Our products not only streamline operations but also enable businesses to optimize resources, enhance tenant satisfaction, and drive overall efficiency with each of our offerings being embedded with deep capabilities.

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founders
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With an experience of over a decade in PropTech, our founders possess a deep understanding of the industry’s nuances and technological advancements. Their leadership and vision have been instrumental in shaping Monk Tech Labs into a trusted leader in the industry.

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Innovative and frictionless product for managing residential properties such as co-living, student -housing, apartments, and senior housing. Caters to the residential real estate industryl.

the officemonk

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Seamless and cutting-edge products to manage offices, tech parks, and malls. Caters to the commercial real estate industry.

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helloworld technologies
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HelloWorld is India’s leading co-Living platform for students and young working professionals. It aims to provide a comfortable co-living space for the student community through an agile tech stack to reach the target audience and manage the onboarded tenants. With the right product mix and lean operations to deliver services, HelloWorld is turning the experience of co-living and student living into a comfortable space and freedom of lifestyle and work for its tenants.

Vision

Building the future of shared living for India

mission

To bring convenience, comfort and community accessible to every millennial by bringing exceptional stays across the country.

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oPerAting model
Recurring rentals from strategically sourced and efficiently managed portfolio of shared and co-living
properties.
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highlights in 2022-2023

93% 9,694 80% y-O-y gROWth tOtAl lIve OCCuPAnCy In Revenue Beds

strAtegic AdVAntAges And comPetitiVe strengths

CustOmeR exPeRIenCe

OPeRAtIOnAl effICIenCy

Fully digitized and highly automated end-to-end co-living tenant journey

Organic growth in social media engagement Community activities Association and tie-ups with strategic brands

Highly competitive customer acquisition strategy

Robust organic lead generation

Strong property sourcing and procurement capabilities

the World’s most Advanced Real-estate tech stack


tenant lifecycle	~~house-hunting~~	~~Booking~~	~~living~~	~~Check out~~
Zero physical touch-points	Live video house tour	App-based booking e-Agreement	Keyless homes Smart safety	Instant deposit refund
for safe and seamless living	Algorithm-driven pricing	e-KYC Self-check-in	Virtual community Integrated utilities	Self-checkout
			management
Owner lifecycle	~~house-hunting~~	Property Onboarding	~~Renting~~
	Location heat- mapping	Automated ownership	Real-time transparency on
	Algorithm-driven owner commercials	verifcation e-KYC	commercials Automated on-time rent payment
			Regular property audit reports

Aurum Proptech limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

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Aurum Analytica
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Aurum Analytica provides advanced, intelligent, and holistic solutions across the real estate lifecycle. Leverage new-age technology like AI and ML to generate data-driven, effective & proficient solutions. Futuristic, insightful, automated & analytical solutions are equipped with key performance metrics to monitor and gauge the efficiency and effectiveness of every activity at a granular level.

strAtegic AdVAntAges And comPetitiVe strengths

Unique data-driven proposition and real estateIntegrated solutions to accelerate sales right driven audience recommendation system with from opening funnel of buyers’ leads to productbillions of data points analyzed via our flagship led sales conversions

product Automate Leads

Aggregated agent community platform, on-demand activation via Agent Connect

Vision

Leverage PropTech solutions across every stage of the project cycle and create holistic solutions for all real estate stakeholders to enable smart business investments and decisions.

mission

Create opportunities for the real estate ecosystem by harnessing new-age technology tools for empowering real estate businesses.

highlights in 2022-23

100+ RAPId sCAlegROWIng WIth PROJeCts hAndled 100% y-o-y gROWth In Revenue

7 Of IndIA’s tOP 10 develOPeRs ARe OuR mARQuee ClIents

85% mORe thAn ReneWAl 2 BIllIOn RAte dAtA POInts AnAlyzed

mORe thAn 20+ enteRPRIse ClIents ACROss IndIA, the usA, And the mIddle eAst

oPerAting model

Agent Connect - SaaS-Based Agent Discovery and Engagement Platform

Automate Leads - Data-Driven Marketing Platform

Inventory & Site Management - Online Inventory Booking and Site Management

Designing an operating model for an automated data-driven marketing platform involves collecting, analyzing, and engaging leads efficiently, while ensuring data privacy and scalability. It includes lead scoring, personalized campaigns, compliance, and integration with sales, all with a focus on continuous improvement and optimization.

Inventory management and booking platform where end consumers can browse through different inventory in 2D and 3D models and book the inventory. Provides customized solution as per business need, tracks all ongoing site visits at the site, source analysis, and Integration with CRM.

Leverage the one-stop platform to activate the agent community to accelerate micro-market and cross-geography sales. Discover, Connect, and engage with pertinent brokers at Agent Connect.

Products

cs Agent connect

AutomAte leAds

A dynamic and progressive analytics platform that offers effective and impactful performance marketing by generating custom audiences envisaged and crafted by AI-driven audience recommendation engine insights.

A platform strategically designed and developed to assist the stakeholders in the real estate sector considering the stumbling phase of the market. Our easy-to-use platform gives authorized users exclusive access to the data regarding the presence of registered agents in a chosen geographical position.

Aurum Proptech limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

in-house Products

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yieldWisex technologies
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WiseX is an Indian Wealth-Tech & PropTech group that operates a platform to provide easy access, transparency, and liquidity to a curated selection of institutional-grade investment opportunities in the real estate sector.

cutting-edge investment frameworks, including LAP, LRD, MBS, and Fractional Ownership.

Vision

Our vision is to democratize institutional-grade investment opportunities in the real estate sector and provide seamless access via state-of-the-art technological solutions.

Click, set, financed.

institutions, potential home loan customers, and real estate developers through a frictionless, fast and innovative loan processing process.

Aurum KuberX is a home loan aggregation and SaaS platform that enables real estate buyers to select and easily apply for loan applications. Key features include end-to-end customer home journey till loan sanction, digitized verification and loan processing system, CRM managed tools for agents and lenders, AI-based loan recommendation through decision tree on bank policies. Aurum KuberX seeks to seamlessly connect financial

At Aurum KuberX, we aim to revolutionize home financing with our online home loan aggregation platform. Backed by AI-driven technology and an expert financial support system, our vision is to provide all homebuyers access to quick, tailored and hassle-free loans.

50% ` 1 BIllIOn+ 100% 100+ fAsteR lOAn lOAn ACCuRAte veRIfIed APPROvAls dIsBuRsed PRedICtIOns PARtneRs

mission

We have embarked on an ambitious mission to set up and operate the largest global Neo-Realty Investment Platforms.

Click, set, solid.

demonstrAted trAck record

Live Frameworks: MBS, LAP,

LRD, Fractional Ownership

Upcoming Frameworks: PMS,

sustAinAble business growth

Operating CAC < Upfront Revenue

Minimum Investment ` 15 Lakhs

valuations to homeowners and streamline the selling process, making it faster, efficient and trustworthy.

Aurum instaHome is a Revolutionary Tech Platform that helps you sell your property with ease, efficiency and transparency. Our solution provides instant property

200+ 100+ 91.3% 7,000+ lOCAtIOns AttRIButes ACCuRACy PROJeCts

SDI, LRS

strong fundamentals demonstrAted dePth of knowledge cAPAbility And mArket exPerience Competitive advantage due to Considering the ` 15 Lakh low incremental cost to set up minimum investment ticket new platforms and frameworks size and TG, emphasise on structuring and quality as opposed to gamification

Excellent track record with

100% on-time payments to investors

A Premium Listing platform that lists properties handpicked and vetted by Real Estate Experts. The Listing service is connected to the fulfilment center thus enabling buyers with real time expert advice on the properties. Also, a lifestyle app that provides an on-demand multiservice platform and transaction capabilities. It is built to cater lifestyle services around Real Estate spaces. The platform will act as an aggregator for service requests and a marketplace for service providers. It will be coupled with integration to the fulfilment center.

search & discovery, transactions, home loans, interiors, rentals, property management and post-sales service – fully integrating buyers to an extensive network of real estate developers, Agents, banks & NBFCs. AurumLiv is also building B2B disruptive SaaS platforms for stakeholders such as Developers, Banks, and Agents.

With the help of Data Analytics and VR tools, AurumLiv is trying to disrupt the traditional ecosystem of marketplaces, with a bet on building a simplified and intuitive MLS in India.

AurumLiv platform offers an integrated consumer experience & covers the full real-estate journey from

Aurum Proptech limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

unleAshing PurPose beyond Profit

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Aurum Proptech is deeply committed to promoting sustainability and driving positive social change through various campaigns and initiatives. One such endeavor is Aurum

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----- Start of picture text -----

At Aurum, we truly believe that Tree plantation, green design, We initiated Aurum Service
the secret to growth is helping nutritious meals, safe man hours, Fortnight from September 17, 2022
others grow. We are committed girls' education, and medical to October 2, 2022 and it was
to contributing financially as interventions. The Company’s heart warming and humbling to
well as through human capital genuine concern for the see Aurum members spearheaded
at the grassroots level for the environment and well-being of by volunteers come together for
marginalized communities through society underscores our vision of a cause close to their heart and
our IKIGAI, anchored by our 6 core making the world a better place to contribute physically. ANSF will be
pillars: live. our yearly initiative starting hereon
the same dates.
Our IKIGAI
6 Core Pillars
Tree Plantation Green Design Nutritious Meals
Planting hope for Building sustainable Reducing
the future architectures malnourishment
01 02 03
Safe Man Hours Girls Educations medical Interventions
Think safe. Work safe. Giving wings to Prioritizing good
Be safe. their dreams health
04 05 06
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Aurum Proptech limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

tree Plantation

Planting hope for the future

Aurum is actively addressing the critical need for environmental preservation by planting over 2,000 highly oxygenating trees on its campus. We encourage guests, associates, and stakeholders to adopt a tree, providing regular updates through QR codes.

50,000+ 5,00,000+

TREES PlAnTEd TREES

on the Q Parć campus by 2026 through Global Vikas Trust

nutritious meals

Reducing malnourishment

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Hunger and malnutrition present formidable challenges to a community’s sustainable development. Aurum takes immense pride in its contribution of nutritious meals in partnership with ‘Roti Bank’. Moreover, we are honored to serve two communities through the ‘Mata Bala Arogya Ahaar Prakalp’ under the auspices of RSS Jan Kalyan Samiti. Our Company’s commitment to this humanitarian cause is exemplified through a food delivery van that ensures regular distribution of nourishing meals.

1,50,000+ 1.5 million

MEAlS SERvEd in Mumbai through Roti Bank

MEAlS

Meals by 2026

green design

Building sustainable architecture

Designing the future is the most effective approach to predicting it. With a focus on sustainable development, the Aurum campus is meticulously planned for zero liquid discharge, 100% recycling of water, rainwater harvesting, energy efficiency, and cuttingedge technology. We rely on sustainable energy sources and employ efficient design practices to minimize energy consumption. Our commercial building at the Q Parć campus is the first in Navi Mumbai to achieve LEED Platinum certification.

safe man hours

think safe. Work safe. Be safe

The occupational health and safety of our workforce and onsite workers are of utmost priority for Aurum. Striving for a zero-accident and injury record at all project sites, we invest in comprehensive health and safety risk management training, deploy safety screens to enforce the use of personal protective equipment, and regularly review our health and safety management processes.

18 million 100 million SAFE MAn HOuRS sAfe mAn hOuRs by 2026

girls education

medical Interventions

Prioritizing good health

giving wings to their dreams

Aurum empowers and educates underprivileged girls in support of the ‘Beti Bachao Beti Padhao’ initiative. Our Company’s primary objective is to establish a strong educational infrastructure, enhancing the quality of their learning experiences. Through financial aid, scholarships, and sponsorships, we supports organizations like Prayogbhumi, MSVS, Swami Vivekananda Educational Pratishtan, Palghar, and QUEST.

Aurum prioritizes well-being through our medical intervention initiatives, focusing on healthcare infrastructure in marginalized communities. During the pandemic, we provided COVID-19 vaccinations and equipped GMC Hospital in Akola with essential healthcare equipment. Other contributions included a ventilator and safety ambulance to support emergencies. Furthermore, we also supported a blood donation camp involving 213 donors for the RSS Janakalyan Samiti’s noble cause of saving lives.

2,000+ 10,000+ COvId MEdICAl vACCInATIOnS InTERvEnTIOnS by 2026

Provided Quality Provided Quality Education Education 200+ 8,000+ gIRl EduCATIOn gIRl EduCATIOn yEARS yEARS by 2026

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Aurum Proptech limited Annual Report 2022-23

Corporate Overview

Management Review Governance

Financial Statements

boArd of directors

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mr. srirang Athalye Non-Executive Director

Mr. Srirang Athalye boasts an extensive professional background and career spanning 34 years in various entrepreneurial, industry, and consulting roles. He holds a bachelor’s degree in commerce and a master’s in management studies, both from Mumbai University, and is an alumnus of Somaiya Institute of Management Studies, Mumbai.

Currently serving as the Group President of Aurum Ventures and a Non-Executive Director at Aurum PropTech Limited., he has made significant contributions in the field of mergers and acquisitions across diverse sectors such as manufacturing, infrastructure, telecommunications, consulting, and real estate. He is known for his expertise in utilizing Creative Problem Solving (CPS) and Innovation-Systematic Inventive Thinking (SIT) methodologies to drive organizational performance.

In 2021, he was elected Vice Chairman of EPCES (Export Promotion Council for EOU & SEZ) in recognition of his exceptional expertise.

Throughout his career, he has worked with notable companies such as Bombay Dyeing & Mfg. Co. Ltd., International Wool Secretariat, JT Mobiles, Mafatlal Industries Ltd., Tasty Bites Eatables Ltd., Exatt Technologies, SFK A&G Investment Banking, and Banyan Infrastructure.

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mr. Ramashrya yadav Non-Executive Director

mr. Onkar shetye Executive Director

Mr. Ramashrya Yadav, an alumnus of Harvard Mr. Onkar Shetye is an alumnus of the Business School, is a leading proponent IIM Ahmedabad and has also done his of India’s real estate industry with a deep master’s from the prestigious Russel interest in bringing transformational change Group of Universities, UK. He has 16 years to the sector. Mr. Yadav has over 21 years of multisectoral experience and has driven of experience in construction, real estate, strategic and transformational initiatives banking & investment. He has built multiple at multiple organizations across industries businesses from scratch. His thought like energy, real estate, mineral exploration, philosophy is firmly rooted in multiple and information technology. He has worked small steps aggregating to quantum leaps with diverse teams across India, Europe and exponential impact. Before starting and Africa. He brings a large toolbox to Intergrow Asset Management, India’s first the table and works with teams to validate, real estate-focused asset management catalyze, and scale new ventures by company, he worked as CEO of Real Estate refining competitive dynamics, honing their Advisory Practice, Edelweiss Financial business plans, and refining go-to-market Services Limited. Before that, he was CEO strategies. of Orbit Corporation, a listed entity and one In his present role, he has worked on various of the most prestigious real estate brands, functional areas like strategy, operations, particularly in the premium segment of revenue management, and business South Mumbai. development. He has successfully managed multifunctional teams reporting to him and supervised project management for on time in budget implementation. He has been part of Aurum Ventures Group since 2012. In his previous roles at Aurum, he was the Chief Revenue Officer handling all the portfolios including commercial leasing as well as sales, and also held the position of Chief Operating Officer of Aurum’s asset management portfolio

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mr. vasant gujarathi Independent Director

Mr. Vasant Gujarathi holds a bachelor’s degree in commerce (hons.) and is a fellow member of the Institute of Chartered Accountants of India. He has more than 36 years of post-qualification experience of working at Price Water house Coopers (PwC) in various roles and working with some of the largest multinational Companies in India. He joined M/s. Lovelock & Lewes, Chartered Accountants, in August 1976, initially a member firm of Coopers & Lybrand International and subsequently a member of PwC. He was also a Partner with PwC India for 22 years (1991-2013) with PwC’s assurance and business advisory services group and had also represented PwC India on the PwC Global Committee for ‘The Industrial Products Industry. He has exposure in the fields of audit, financial systems, operations, risk management, regulatory compliance, internal audit services, IT strategy implementation, talent management, corporate governance review and advisory services, ethics assessment, and program development, among others.

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mr. Ajit Joshi Independent Director

Mr. Ajit Joshi is a global business leader with more than 35 years of experience in Indian and international companies. He has the unique advantage of having worked in agriculture, technology, media, renewable energy, manufacturing, healthcare, chemicals, and textiles. He has also served as Director on the Board of multiple companies. He successfully ran multiple revenue models and executed many M&A deals. He helped an Austrian company to build a business in India in the smart card sector. Post his corporate career of 20 years, he built, grew, and executed two successful start-ups over a period of 10 years with multiple rounds of funding from the likes of Sequoia, Intel, and Norwest, among others. He set up and operated companies in Dubai, Jordan, and Indonesia. He created a successful exit for his investors, and other stakeholders with huge valuations. He currently works as a consultant with many companies and start-ups in India and New Zealand. He is also mentoring and advising various companies in different parts of the world. He is also an advisor with a Venture Capital Fund from Canada.

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dr. Padma deosthali Independent Director

Dr. Padma has a master’s degree in social work MSW and additionally holds a PhD from the Tata Institute of Social Sciences (2017). In her career spanning over 21 years, she has worked closely with the UNFPA, UNDP, and WHO on various assignments in addition to her active role in India. She led the Center for Health and Allied Themes (CEHAT), a non-profit working on health and human rights, as its director for 11 years in producing a significant body of research and impacting policy and practice. She has been engaged in research, training, and policy advocacy in the areas of gender-based violence, and gender in medical education and has been working with a focus on health and human rights for more than 20 years. She has led the setting up of health systems models for responding to Violence Against Women (VAW). She has co-authored a study on the medico-legal context of custodial deaths and the development of guidelines for the examination of persons in custody and conducting postmortems. She is currently working as Program Director, Sexual and Reproductive Health at CREA, a global feminist organization.

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Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

BoARD of DiRecToRs

non-executive Directors

Srirang Athalye Ramashrya Yadav

executive Director

Onkar Shetye

non-executive independent Director

Vasant Gujarathi

Ajit Joshi

Padma Deosthali

chief finAnciAL officeR

Kunal Karan

coMPAny secReTARy & coMPLiAnce officeR

sonia Jain

(Appointment as Compliance Officer w.e.f February 17, 2023)

Khushbu Rakecha

(Resigned as Compliance Officer w.e.f February 17, 2023)

BAnKeRs

Axis Bank Limited Bank of Baroda Limited HDFC Bank Limited ICICI Bank Limited

sTATuToRy AuDiToRs

M/s. M S K A & Associates, Chartered Accountants

RegisTeReD office

Aurum Q1, Aurum Q Parc, Thane Belapur Road, Navi Mumbai, Thane - 400 710 India, Tel: 022 30001700 E-mail: [email protected] website: www.aurumproptech.in

RegisTRAR & shARe TRAnsfeR AgenT

KFin Technologies Limited Selenium Tower B, Plot 31 & 32, Financial District, Nanakramguda, Serilingampally Hyderabad, Rangareddi, Telangana, India - 500 032 Toll-Free No: +1800 309 4001 E-mail: [email protected] Website: www.kfintech.com

MAnAgeMenT Discussion & AnALysis

development initiatives, our commitment to fiscal responsibility and long-term stability at both the State and Central Government levels will propel India to the forefront of developing economies. By 2029, we are well-positioned to secure our spot as the third-largest economy in the world.

(i) MAcRo oveRview

global

The global economy exhibited resilience and strength despite unprecedented challenges such as the supply chain disruption, inflation and aggressive interest rate hikes by central banks.

India’s digital adoption continues in an accelerated way. The startup landscape in India has experienced exponential growth and India has become the thirdlargest startup ecosystem in the world. India is also home to more than 100 Unicorns and 23 of them emerged in 2022 itself.

The global economic growth rate is anticipated to be 2.8% in 2023, witnessing a slight contraction from 3.4% in 2022, indicating an optimistic journey towards stability. Further, advanced economies are expected to grow by 1.3% and emerging economies are expected to grow by 3.9%. Inflation remained at multi-decade highs last year in advanced economies. There is also optimism as the forecast indicates a decrease in global inflation rates from 8.7% in 2022 to 7.0% in 2023. This is primarily due to a sharp reversal in energy and food prices. Crude oil prices are estimated to average USD 92/bbl in 2023 and USD 80/bbl in 2024, down from a projected USD 100/bbl in 2022.

(ii) inDusTRy oveRview

indian iT industry

Despite an uncertain global economic environment, India’s IT sector maintained consistent revenue growth in 2022-23. This growth can be attributed to the pivotal role of technology in enabling businesses to adapt and remain resilient. Projections indicate that India’s technology industry, encompassing hardware, is expected to exceed USD 245 billion in revenue during 2023-24, exhibiting a year-on-year growth of 8.4% over 2021-22. Estimated exports for the same period stood at USD 194 billion, with an anticipated growth of 9.4% in reported currency terms and 11.4% in constant currency terms. The industry continues to be a net hirer, strengthening its position as the ‘Digital Talent Nation’ for the world.

Global IT spending in Enterprise software and IT services crossed USD 2 trillion and is estimated to reach USD 4.6 trillion in 2023. Macroeconomic headwinds are not slowing digital transformation. IT spending will remain strong, even as many countries are projected to have near-flat gross domestic product (GDP) growth and high inflation in 2023. We believe that India is expected to remain in a high growth trajectory, with the expectation of 6% GDP in 2023-24 which is also reiterated by the IMF.

Digital transformation remains a core strategic priority for 2022-23. The growth areas of technology segments will continue to focus on digital CX, digitization, cloudification, building SaaS-enabled products, cybersecurity and platformization – digital components that are increasingly being built into all deals, partnerships and M&As. The Government is also playing a key role as an enabler of technology by building public platforms, digital public infrastructure and other projects, making the ‘Digital India’ initiative a reality.

india

India has exhibited remarkable resilience in the face of global challenges, solidifying its position as a catalyst for global economic advancement. With a thriving economy that has now surpassed the UK to become the world’s fifth-largest, India’s success can be attributed to the public and private sector’s endeavors to improve infrastructure and logistics, foster a favorable business environment and drive economic growth.

India’s economy remained relatively stable at 7.2% in 2022-23, with further acceleration in recovery expected in 2024 to 6.3%. With a keen emphasis on taxation designed to bolster economic growth and facilitate the funding of critical infrastructure

indian Real estate industry

The Indian real estate landscape encompasses residential, commercial and retail segments, with residential properties commanding around 80%

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

ManageMent Discussion & analysis (contd.)

of the market share. The commercial segment encompasses office spaces, industrial parks and warehouses, while the retail segment comprises shops, malls and shopping complexes.

element in the overall development of the nation. Further, the estimated worth of the Indian real estate industry in 2023 is USD 265.18 billion, with projections indicating that it will soar to USD 828.75 billion by 2028, reflecting an impressive compound annual growth rate (CAGR) of 25.60%.

The real estate sector plays a vital role in the Indian economy, contributing approximately 6 to 8% of its GDP which is anticipated to reach 13% by 2025. Due to its substantial contribution to economic growth and job creation, the industry is now acknowledged as one of the country’s rapidly expanding sectors. This in turn is positively influencing the demand for resilient data center infrastructure and consequently bolstering the market growth. It has become a vital

Real estate is the largest asset class across the world. The role of technology in the real estate industry has expanded dramatically in recent years as it is transforming the way we buy, sell and manage real estate properties. We believe that as technology continues to evolve, its impact on the industry is becoming increasingly significant leading to the emergence of PropTech.

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driven by higher R&D spending and a focus on innovation, leading to breakthroughs. This is expected to create opportunities for new entrants and intensify market competition. To meet evolving consumer expectations, top companies are likely to launch new products with innovative features or competitive pricing, while new players aim to establish a market presence.

global PropTech

The global PropTech market, valued at USD 20.65 billion in 2022, is projected to grow at a CAGR of 17.04% and reach USD 53.07 billion by 2028. This expansion is expected to be fueled by increased investment, venture capital funding and a rising demand for advanced technologies like 5G and the Internet of Things (IoT) in the real estate sector. Improved urban planning and increased infrastructure funding are also significant growth drivers. The adoption of virtual reality (VR) and augmented reality (AR) is set to enhance engagement among brokers and developers, facilitating better decision-making. The market is likely to benefit from technological advancements

india PropTech

The Indian PropTech industry witnessed significant growth while undergoing a transitionary phase in the year 2022-23, primarily fueled by the increasing integration of technology in the real estate sector. The industry showcased promising outcomes due

ManageMent Discussion & analysis (contd.)

improving overall transaction efficiency. Property management and operations solutions also gained momentum, as demand increased for smart building technologies, IoT-enabled devices and energy management systems. These solutions optimized energy consumption, enhanced security and improved operational efficiency, resulting in cost savings and better tenant experiences.

to its innovative solutions and favorable market conditions. Moreover, the future holds substantial opportunities for the Indian PropTech industry, as the Indian real estate market is projected to expand to a size of USD 1 trillion by 2030 and Aurum believes that PropTech is expected to reach USD 100 billion.

According to research, India is home to 1,124 operational startups. These startups have contributed to increased transparency, more efficient transactions and improved user experiences. From 2009 to 2023, Indian PropTech startups successfully secured a remarkable USD 3.2 billion in funding through 255 deals.

Furthermore, property data analytics and market intelligence platforms emerged as a notable trend. Leveraging big data and advanced analytics, these solutions provided valuable insights into property trends, investment opportunities and risk assessment. Just as FinTech redefined financial services, PropTech is on a trajectory to redefine real estate practices and create a more efficient, transparent and accessible property market.

Online property marketplaces and listing platforms witnessed significant growth, with millions of property listings and a growing user base. These platforms offered convenience and transparency,

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(iii) coMPAny oveRview

APT overview

Aurum PropTech, a new age technology company has revolutionalized Majesco Limited as InsuranceTech company established in 2015. In March 2021, Aurum Real Estate Developers Limited, currently holding a majority share of 50.34%, rebranded the Company as a PropTech (Property Technology) company. With a focus on revolutionizing the real estate industry, Aurum PropTech provides a wide range of tech solutions/platforms that empower digitization of supply as well as demand discovery and fulfillment across the real estate value chain spanning rental, purchase, lending, investing and distribution, among others, by utilizing advanced algorithms, data

Aurum group

Aurum Ventures is a homegrown, privately held real estate investment and development company in India. Founded in 1996 and headquartered in Mumbai, Aurum Ventures focuses on all aspects of value creation in real estate and PropTech businesses.

Aurum is an Impact Investor with a focus on longlife, high-quality assets in special situations in India. Our investments are constructive and have high value in exit potential while being conservative in entry pricing, with each investment having a horizon of a decade.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review Governance

Financial Statements

ManageMent Discussion & analysis (contd.)

analytics and automation to streamline property transactions, enhance market analysis and optimize property management processes. By doing so, the Company aims to provide stakeholders within the PropTech ecosystem with increased efficiency, transparency and overall value.

evolution of Aurum shareholding

Date of Acquisition	Acquisition event	shareholding (%)	cumulative shareholding (%)
June 2021	Erstwhile Promoter Stake	14.78	14.78
July2021	Open Offer	20.26	35.04
May2022	Rights Issue	15.30	50.34

Aurum PropTech’s growth journey began in July 2021 and since then, the Company has acquired seven businesses. Aurum PropTech’s integrated ecosystem now collectively boasts 13+ products and services, 80,000 home buyers, 2,000 Crore+ GTV, 520 SaaS customers, 4,300 RaaS customers, 7,500 channel partners, 600+ real estate developer relationships and a presence in 17+ cities.

(iv) TechnoLogy, cAPiTAL AnD seRvices (Tcs)

The residential and commercial segment constitutes USD 345 billion market size. 75% of the PropTech market in India has immense potential with their strong capabilities in:

Technology
Capital
Services

Aurum PropTech is nurturing a portfolio of exciting businesses that will lead the PropTech revolution in India.

TechnoLogy

The real estate sector encompasses a wide array of asset classes, including residential, commercial, retail, office, industrial, and hospitality. Each class follows a unique lifecycle involving activities like buying/selling, leasing/managing, and designing/ building. Within this diverse landscape, software and technology have emerged as pivotal components, driving efficiency, operational optimization, and value creation across these asset classes and stages.

At Aurum, our focus lies in elevating the consumer experience, facilitating data-driven decision-making, streamlining operations, and curtailing costs. We achieve this through our innovative products such as:

india’s largest ReAL esTATe cRM for developers & channel partners

Data science-driven solution that accelerates performance marketing & channel sales

Digital transaction platform for primary residential properties

cAPiTAL

PropTech is ushering in a revolutionary shift in the landscape of real estate transactions, investments and financing.

Emerging real asset segments such as co-living, managed living, senior living, managed retail and E-commerce are fueling the need for specialized portfolio managers. This surge in demand is set to propel the expansion of Registered Investment Advisors (RIA) focused on real estate as a distinct asset class. Moreover, it presents an avenue to establish an Institutional Bond Market tailored for real estate opportunities. To meet the diverse demands of real estate financing, our portfolio encompasses a range of products including:

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Tech-driven ReAL esTATe AsseT MAnAgeMenT coMPAny

A neo-realty investment platform

ManageMent Discussion & analysis (contd.)

seRvices

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PropTech has introduced a new era of services catering to both businesses (B2B) and consumers (B2C) in the real estate industry. This innovative intersection of technology and real estate is transforming the way transactions, interactions and experiences unfold. Our products are perfectly suited to cater to the diverse needs of various classes.

one of the largest co-living operators in india

Automated valuation Model (AvM) powered transaction platform

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Leading residential rental platform and PropTech brand in India

More details on page 18

(v) invesTMenTs

sr. no.	name of the company/Business	Product/offerings	Amount committed (in`crore)	equity shareholding (%)
1.	K2V2 Technologies	CRM and Broker Aggregation Tech for Real Estate	43	51
2.	Integrow Asset Management	Tech-driven Real Estate Asset Management Company	25	49
3.	Monk Tech Labs	SaaS Platform for Rental Management	37	51
4.	HelloWorld Technologies India	One of the Largest Co-Living Companies in India	56	100
5.	Aurum Analytica	Real Estate Data Analytics Company	45	100
6.	Aurum WiseX(Tech Platform)	Neo-RealtyInvestment Platform	NA*	100
7.	NestAwayTechnologies	Residential Rental Platform	90	100

*Acquired Myre Capital’s Tech Platform

core values of transparency, empowerment, speed, focus, diligence, passion and mutual care are not just upheld but synergized with exceptional performance.

(vi) goveRnAnce, Risk AnD coMPLiAnce (gRc)

A cornerstone of the Company’s operations, Governance, Risk, and Compliance (GRC) revolves around consistently exceeding stakeholder expectations through prudent actions and controls. Our commitment to navigating uncertainties with integrity is paramount.

In our drive to establish a robust GRC framework, each segment is entrusted to a senior leader within the organization. This exemplifies our unwavering dedication to implementing a robust governance structure, comprehensive risk management and a culture of unwavering compliance.

As our GRC initiative gains traction, we are resolutely focused on its growth and refinement in the coming years. Within this framework, Aurum’s

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

ManageMent Discussion & analysis (contd.)

i. Intellectual Capital
ii. Human Capital
iii. Social and Brand Capital
iv. Ecosystem Capital
v. Financial Capital

i. intellectual capital

Aurums’ emphasis on Intellectual Property (IP) as a valuable asset reflects its understanding of the crucial role that innovation and technology play in the dynamic PropTech industry. By recognizing the significance of IP, the Company demonstrates its commitment to protecting its unique ideas, products and services and its determination to maintain a competitive edge.

The construction of a robust internal IP governance framework underscores Aurum’s proactive approach to managing and safeguarding its IP assets effectively.

As a technology-driven leader in the PropTech space, Aurum understands the importance of staying ahead in the fast-paced technological landscape. By consistently adopting cutting-edge technologies, the Company positions itself at the forefront of innovation, enabling it to offer unique and valuable solutions to its clients and customers.

Through these strategic initiatives, Aurum demonstrates its commitment to maintaining a competitive advantage in the ever-evolving PropTech industry. By leveraging its IP assets, embracing cutting-edge technologies and fostering a culture of innovation, the Company is well-positioned to continue its growth and success in the market. As the PropTech industry continues to evolve, Aurum’s emphasis on intellectual property and technologydriven innovation ensures its relevance and continued leadership in the field.

ii. human capital

The culture of a company is a reflection of the values upheld by its team members. At Aurum, culture isn’t just talked about; it’s lived and breathed by each individual.

Central to the Company’s wealth is its human capital – the people, practices, and processes that ensure

legal, ethical, and socially responsible operations while effectively managing risks. In its commitment to the well-being of its team, Aurum has initiated diverse programs with distinct objectives. The ‘Culture and Domain’ initiative serves two purposes: (a) fortifying the Company’s culture by fostering collaboration across functions, and (b) cultivating its talent pool to align with strategic goals. This paves the way for an inclusive work environment, enabling every employee to flourish as their authentic selves and realize their full potential.

Aurum is resolutely dedicated to crafting a workplace that champions diversity and inclusivity, ensuring everyone feels embraced and appreciated. Over the past year, the Company has expanded its workforce, including subsidiaries, from 5 to 500 strong individuals. With a robust reservoir of future leaders, Aurum stands poised to achieve its long-term business aspirations with unwavering confidence. To instill core values and enhance the skill set of our team, Aurum initiated a comprehensive integrated employee development platform Aurum Uni.

To achieve Aurum’s vision of revolutionizing the PropTech ecosystem, it is critical to foster collective intelligence within the ecosystem and harness the diverse expertise and perspectives of industry stakeholders. To leverage this collective potential within our ecosystem of companies, we launched Aurum Uni, an integrated employee development platform. Aurum Uni aims to provide a comprehensive and unified platform for skill enhancement, knowledge sharing, and talent development across all companies in the Aurum PropTech ecosystem.

iii. social and Brand capital

Aurum is deeply committed to ensuring customer satisfaction. The Company prioritizes customercentricity in its business model, organizational structure, and investment decisions to deliver exceptional value to its clients.

At Aurum, we truly believe that the secret to growth is helping others grow. We are committed to contributing financially as well as through human

ManageMent Discussion & analysis (contd.)

capital at the grassroot level for the marginalized communities through our IKIGAI, anchored by our six core pillars: Tree Plantation, Green Design, Nutritious Meals, Safe Man Hours, Girls’ Education and Medical Interventions. We recognize that integrating social, environmental and ethical responsibilities into the governance of our businesses ensures long-term success, competitiveness and sustainability.

ecosystem capital

iv.

Transparency and trust serve as the foundational pillars of the Company’s operations. Aurum is deeply committed to nurturing a culture infused with innovation and passion. To steer the ecosystem toward its envisioned path and to pave the way for a future defined by innovation and data-driven achievements within the integrated PropTech ecosystem, Aurum spearheads several impactful programs.

Aurum entrepreneur’s Forum

Aurum Entrepreneur’s Forum serves as a dynamic and forward-looking platform, where founders in the Aurum PropTech Ecosystem converge every quarter. With unwavering dedication, these founders come together to foster collaboration, innovation, and the realization of a shared dream: the development of an Integrated PropTech Ecosystem that redefines the future of real estate.

During each gathering, ideas are exchanged, synergies are forged, and cutting-edge technologies are explored. This forum not only provides a space for the founders to showcase their successes but also facilitates the exploration of collective opportunities and challenges within the realm of property technology.

Aurum entrepreneurs in Residence Program

A one-of-a-kind initiative in the PropTech industry, wherein we onboard and back entrepreneurs, who are building TRANSFORMATIVE products for the real estate industry.

At Aurum PropTech, we are cultivating an entrepreneurial ethos by collaborating with companies led by passionate founders.

We support entrepreneurs with capital, network and expertise. Moreover, it’s an avenue to unlock

substantial value growth within your venture. You will have the autonomy to steer these businesses, assemble your teams and spearhead their triumph.

Financial capital

Aurum places significant emphasis on adept management of their financial capital, with a focus on liquidity, profitability, and sustainable growth. The Company has established a robust framework that centers around the maintenance of liquidity, pursuit of profitability, and the facilitation of consistent growth. By steadfastly adhering to this approach, the Company aims to achieve a seamless equilibrium between financial stability and profitability, propelling sustainable growth across its operations.

Financial Performance

equity share capital

The Company has a single class of shares, namely equity shares with a par value of 5 each. In the fiscal year, the Company’s share capital amounted to 1,968 Lakh.

Revenue

APT achieved a consolidated revenue of 12,687 Lakh from operations, reflecting a significant increase of 703.48% compared to the previous year’s figure of 1,579 Lakh.

standalone

APT recorded a standalone revenue of 923 Lakh from operations for 2022-23, demonstrating a change from 165 Lakh in the previous year. The loss before tax for the fiscal year ending on March 31, 2023, amounted to ` 1,399 Lakh.

Profitability

The consolidated loss before exceptional items and tax for the year amounted to 5,107 Lakh as compared to 1,679 Lakh from the previous year.

standalone

On a standalone basis, the recorded loss for the year ended was 1,124 Lakh, as compared to 852 Lakh in the previous year. The other comprehensive income for the year amounted to 2 Lakh as compared to a comprehensive loss of 2 Lakh in the previous year.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

ManageMent Discussion & analysis (contd.)

purchase of fixed assets amounted to 1,881 Lakh, reflecting the cash outflow for acquiring long-term assets. Moreover, the payment for investment in subsidiaries was 5,661 Lakh, representing the cash outflow associated with acquiring stakes in other companies.

The total comprehensive loss for the year stood at 1,122 Lakh, as compared to 854 Lakh in the previous year.

non-current Assets

Fixed Assets

shareholder’s Funds

At the end of the year, the tangible assets amounted to 3,719 Lakh. This figure incorporates a gross addition of 1,099 Lakh, primarily resulting from the acquisition of computers, office equipment, and other assets. Depreciation amounting to ` 543 Lakh was charged for the year.

Total shareholders’ funds for the year stood at 22,253 Lakh as compared to 16,808 Lakh in the previous year.

non-current Liabilities

Provisions and non-current other Liabilities

The intangible assets at the end of the year amounted to 11,388 Lakh. This comprised goodwill valued at 7,790 Lakh, IT products developed at ` 888 Lakh, and balance other intangible assets acquired during business acquisitions. The Company capitalizes the costs incurred for the development of IT products, which typically involve expenses related to thirdparty vendors and direct employee costs of the product development team.

For the year, non-current financial liabilities amounted to 6,283 Lakh. Additionally, noncurrent other liabilities for the year amounted to 269 Lakh, reflecting a change from ` 88 Lakh in the previous year.

current Liabilities

Financial Liabilities

As of March 31, 2023, the current financial liabilities, which include trade payables, amounted to 8,629 Lakh, marking an increase from 2,394 Lakh in the previous year.

current Assets

current investments and cash and Bank Balances

The total current investments and cash and bank balances for the year amounted to 730 Lakh. The net cash used in operations was 5,006 Lakh, indicating the cash outflow resulting from the Company’s dayto-day activities. Additionally, the payment for the

other current Liabilities and Provisions

As of March 31, 2023, the total of other current liabilities and provisions reached 512 Lakhs, reflecting an increase from 171 Lakh in the previous year.

key Financial Ratios (consolidated Basis)

sr. no.	key Financial Ratios	2022-23	2021-22
(i)	OperatingProft Margin(%)	(2.92)	(65.51)
(ii)	Net Proft Margin(%)	(28.99)	(63.18)
(iii)	Current Ratio	1.25	4.84
(iv)	Debt EquityRatio	0.02	0.00
(v)	Return on Net Worth(%)	(12.98)	(6.64)
(vi)	Interest Coverage Ratio	(0.48)	(56.17)
(vii)	Debtors Turnover Ratio	9.63	4.07

Risk Management

privacy risks, as well as contractual, execution, and delivery risks. By leveraging this comprehensive framework, the Company effectively manages and addresses these risks, ensuring a secure and stable operational environment, while successfully fulfilling its commitments.

The organization’s GRC framework plays a vital role in mitigating enterprise risks, including technology, strategic, macroeconomic, key managerial personnel, competitive edge risks, clients and accounts risks, cybersecurity, data protection, and

ManageMent Discussion & analysis (contd.)

Mergers and Acquisitions

Aurum PropTech has prioritized acquiring ventures that demonstrate potential for profitable growth within the focused domains of the PropTech ecosystem. The integration of cutting-edge digital technologies, including data analytics, blockchain/ NFT, AI, and IoT, holds tremendous promise for driving value creation in the industry. The Company thus remains committed to assessing opportunities within the identified focus areas, while also selectively developing in-house products and enhancing go-to-market capabilities.

The decision-making process of whether to acquire or build a particular capability is guided by the GRC framework. This framework systematically evaluates each business opportunity based on various key parameters. These parameters include assessing market potential, competitiveness, the feasibility of building required capabilities, time to market, the potential for creating shareholder value, and alignment with the Company’s vision for the PropTech ecosystem.

By adhering to this strategic approach and leveraging the GRC framework, Aurum PropTech aims to stay at the forefront of innovation in the PropTech sector, positioning itself for sustainable growth and delivering significant value to its stakeholders.

The benefits of robust ecosystem, domain expertise, capital allocation and enterprise experience has embarked the Company on three growth strategies –

Data Monetization – Streamlining consumer behavior and supply-demand dynamics to enhance efficiency and elevate customer experiences.

Aurum leverages its network effect strategy to harness the synergistic potential of interconnected products, resulting in various advantages, including cost savings, enhanced customer value, expanded market penetration, data harmonization, and accelerated innovation.

Our Profitable Growth strategy revolves around a prudent yet proactive expansion of our current product portfolio. We embrace a methodical approach aimed at securing sustained profitability,

which encompasses prudent resource allocation, disciplined management of cash flow, and a profitdriven orientation with a sharp focus on unit economics.

Aurum’s business endeavors are centered on achieving growth momentum, while concurrently enhancing unit economics.

internal control systems and their Adequacy

The Company has in place adequate internal financial controls commensurate with the size, scale, and complexity of its operations.

The Company has policies and procedures in place for ensuring proper and efficient conduct of its business, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information.

The Company believes that these robust systems, certification mechanisms for certifying adherence to various accounting policies, accounting hygiene, and accuracy of provisions and other estimates assures that the Company’s internal controls are adequate.

cautionary statement

The statements made in the Management Discussion and Analysis describing the Company’s objectives, projections, estimates, and expectations may be ‘forward-looking’ statements within the meaning of applicable securities laws and regulations. Actual results could differ from those expressed or implied. Important factors that could make a difference to the Company’s operations include economic conditions affecting demand, supply, and price conditions in the domestic and overseas markets in which

the Company operates, changes in Government regulations, tax laws, and other statutes, and other incidental factors.

(MD&A is reliant on the following sources: World Economic Outlook, April 2023; IBEF; and Nasscom)

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

BOARD OF DIRECTORS’ REPORT

To the Members,

The Board of Directors hereby submits the report of the business and operations of your Company along with the audited financial statements, for the financial year ended March 31, 2023. The consolidated performance of the Company and its subsidiaries has been referred to wherever required.

1. FINANCIAL SUMMARY

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(in Lakhs except earning per share) Particulars Consolidated Standalone Year ended Year ended Year ended Year ended March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Revenue from operations Information Technology Services 7,057 1,554 132 140 Rent Income 5,553 25 715 25 Reimbursement of expenses from 77 - 77 - customers Total Operating Revenue 12,687 1,579 923 165 Other Income 1,218 522 663 490 Total Income 13,904 2,101 1586 655 Employee Benefits and other 14,194 3,409 2225 1,534 expenses Depreciation and amortization 3,849 278 665 189 expenses Finance costs 852 25 96 12 Total Expenses 18,895 3,712 2,985 1,735 Share of loss of associates (117) (68) - - Loss before Tax (5,107) (1,679) (1,399) (1,080) Tax expense (1,077) (352) (275) (228) Loss for the Year (4,030) (1,327) (1,124) (852) Other Comprehensive Income / 21 (9) 2 (2) (Loss) Total Comprehensive Income / (4,009) (1,336) (1,122) (854) (Loss) Earnings per share of face value of
5/- each
Basic () (7.51) (3.90) (2.93) (2.98) Diluted () (7.51) (3.90) (2.93) (2.98)
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Financial Statements for the year ended March 31, 2023, have been prepared in accordance with Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 (hereinafter referred to as “the Act”) read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015, as amended and the Companies (Indian Accounting Standards) Amendment Rules, 2016.

March 31, 2022. Your Company made a net loss of 4,030 Lakhs for the year ended March 31, 2023 as compared to a net loss of 1,327 Lakhs for the year ended March 31, 2022.

b) Standalone Operations

Your Company reported a total income of 1,586 Lakhs for the year ended March 31, 2023 as compared to 655 Lakhs for the year ended March 31, 2022. Your Company made a net loss of 1,124 Lakhs for the year ended March 31, 2023 as compared to a net loss of 852 Lakhs for the year ended March 31, 2022.

2. RESULTS OF OPERATIONS

a) Consolidated operations

Your Company reported a total income of 13,905 Lakhs for the year ended March 31, 2023, as compared to 2,101 Lakhs for the year ended

BOARD OF DIRECTORS’ REPORT (Contd.)

3. TRANSFER TO RESERVES

No amount is proposed to be transferred to reserves for the year ended March 31, 2023.

4. DIVIDEND

The Board of Directors has not recommended dividends for the Financial Year 2022-23.

5. CHANGE IN SHARE CAPITAL

During the year under review, the Company has issued 4,29,44,533 Equity Shares on Rights issue basis at a price of 80/- per fully paid Equity Shares including premium of 75/- per Equity Shares) and accordingly Shareholders have been allotted 4,29,44,533 Partly paid-up Equity Shares at a price of 20/- and the paid-up share capital increased from 1,431 Lakhs to ` 1968 Lakhs.

6. EMPLOYEE STOCK OPTIONS

During the financial year the Company has granted 23,01,292 stock options to Directors and employees of Company and its subsidiaries under the “Aurum PropTech Employee Stock Option Plan 2021”.

7. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN MARCH 31, 2023 AND THE DATE OF THIS REPORT AND CHANGE IN NATURE OF BUSINESS

I. The Board of Directors of the Company in its meeting held on April 27, 2023, considered the acquisition of assets and technology platform of Myre Tech LLP and launched Aurum WiseX, a digital distribution vertical for Real Estate Investments. The acquisition got completed on April 29, 2023.
II. The Board of Directors of the Company in its meeting held on April 27, 2023, considered the acquisition of Nestway Technologies Private Limited (NestAway’) and delegated the power to the Executive Investment committee to invest the funds of the Company amounting upto ` 9,000 Lakhs. The Executive Investment Committee of the Company in its meeting held on June 01, 2023, approved the acquisition of upto 100% equity share capital of NestAway for

a cash consideration of upto ` 9,000 Lakhs. The Share Purchase Agreement has been executed on June 28, 2023. The Company is in process of acquiring the equity shares and compulsory convertible preference shares of NestAway.

8. CREDIT RATING

During the year under review, the Company has not obtained any credit ratings.

9. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES	SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES	SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES
The Company has the following subsidiaries and associates:
Sr. No	Name of the Company	Nature
1.	Aurum RealTech Services Private Limited	Wholly owned Subsidiary
2.	Aurum Softwares and Solutions Private Limited	Wholly owned Subsidiary
3.	Helloworld Technologies India Private Limited	Wholly owned Subsidiary
4.	Aurum Analytica Private Limited (formerly known as Blink Advisory Services Private Limited)	Wholly owned Subsidiary
5.	K2V2 Technologies Private Limited	Subsidiary
6.	Monk Tech Labs Pte. Limited	Subsidiary
7.	Integrow Asset Management Private Limited	Subsidiary

Integrow Asset Management Private Limited became subsidiary w.e.f. September 01, 2022.
The Company has acquired 100% stake in Aurum Analytica Private Limited formerly known as Blink Advisory Services Private Limited) by executing Share Purchase Agreement on August 05, 2022.
The Company has acquired 100% stake in Vartaman Consultants Private Limited by executing Share Purchase Agreement on April 29, 2023.
The Company has incorporated Monk Tech Venture Private Limited as subsidiary on April 10, 2023.
The Company has incorporated Cuneate Services Private Limited as wholly owned subsidiary on April 17, 2023.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

BOARD OF DIRECTORS’ REPORT (Contd.)

The Company is in process of acquiring 100% stake of NestAway Technologies Private Limited.

Pursuant to Section 129(3) of the Companies Act, 2013 read with Rule 5 of the Companies (Accounts) Rules, 2014, a statement containing salient features of the financial position of each of the subsidiaries including capital, reserves, total assets, total liabilities, details of investment, turnover, etc. in the prescribed Form AOC-1(Annexure IV) forms a part of the Annual Report.

In accordance with Section 136 of the Act, the audited financial statements, including the consolidated financial statement and related information of the Company and the financial statements of each of the subsidiary Companies are available on our website https://www.aurumproptech.in/ . Any shareholder desirous of making inspection or obtaining copies of the said financial statements may write to the Company Secretary & Compliance officer at [email protected] .

These documents will also be available for inspection during business hours at the registered office of the Company.

For 2022-23, K2V2 Technologies Private Limited and Helloworld Technologies India Private Limited are material subsidiaries of the Company as per the thresholds laid down under the Listing Regulations. There has been no material change in the nature of the business of the subsidiary. The policy for determining material subsidiaries as approved by the Board can be accessed on the website of the Company at link https://aurumproptech.in/investor/ policies/.

10. MANAGEMENT DISCUSSION AND ANALYSIS

In accordance with Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), Management Discussion and Analysis Report is presented in a separate section, forms part of this Annual Report.

11. BUSINESS RESPONSIBILITY AND SUSTANIBILITY REPORT

In accordance with Regulation 34 of SEBI Listing Regulations, as amended, Business Responsibility and Sustainability Report is not applicable to the Company.

12. DIRECTORS’ RESPONSIBILITY STATEMENT

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statement in terms of sub-section (3) (c) and (5) of Section 134 of the Act:

a) In preparation of the Financial Statements for the financial year ended March 31, 2023, the applicable accounting standards had been followed along with proper explanation relating to material departures, if any;
b) We have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, to give a true and fair view of the state of affairs of the Company as of March 31, 2023 and of the profit and loss of the Company for the year ended on that date;
c) We have taken proper and sufficient care for the 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;
d) Financial Statements of the Company had been prepared on a going concern basis;
e) We have laid down Internal Financial Controls to be followed by the Company which are adequate and operating effectively; and
f) We have devised proper systems to ensure compliance with the provisions of all applicable laws and such systems are adequate and operating effectively.

13. DIRECTORS AND KEY MANAGERIAL PERSONNEL

As of the date of this report, the Company has six Directors, out of which three are Independent Directors including one Woman Independent Director.

BOARD OF DIRECTORS’ REPORT (Contd.)

Name of the Director & DIN	Designation	Original Date of Appointment
Mr. Vasant Gujarathi (DIN: 06863505)	Non-Executive Independent Director	March 03, 2020
Mr. Ajit Ravindra Joshi (DIN: 08108620)	Non-Executive Independent Director	July 23, 2021
Mrs. Padma Samir Deosthali (DIN: 09250994)	Non-Executive Independent Director	July 23, 2021
Mr. Ramashrya Ramjag Yadav (DIN: 00145051)	Non-Executive Director	July 23, 2021
Mr. Srirang Yashwant Athalye (DIN: 02546964)	Non-Executive Director	May 04, 2021
Mr. Onkar Sunil Shetye (DIN: 06372831)	Executive Director	May 04, 2021

Number of Board Meetings

Independent Directors

Four Meetings of the Board of Directors were held during the year. The details of the Board meetings and the attendance of the Directors are given in the Corporate Governance Report which forms part of this report. The necessary quorum was present for all the meetings. The maximum interval between any two meetings did not exceed 120 days.

All the Independent Directors have furnished a declaration of Independence stating that they meet the criteria of independence as provided under Section 149(6) of the Act and Regulation 16(1) and 25(8) of the SEBI Listing Regulations and there has been no change in the circumstances which may affect their status as Independent Directors during the year.

14. COMMITTEES OF THE BOARD

Further, they also declared that they have complied with Rule 6 (1) of the Companies (Appointment and Qualifications of Directors) Rules, 2014 concerning the inclusion of names in the data bank created by the Indian Institute of Corporate Affairs.

Your Company has duly constituted the Committees required under the Act read with applicable Rules made there under and the SEBI Listing Regulations.

The Company has an Audit Committee with the constitution, powers, and role as prescribed under Section 177 of the Act and Regulation 18 of the SEBI Listing Regulations.

None of the Directors of the Company are disqualified for being appointed as Directors as specified in Section 164(2) of the Act and Rule 14(1) of the Companies (Appointment and Qualification of Directors) Rules, 2014.

The other statutory committees of the Board are given below:

Key Managerial Personnel

i) Investors’ Grievances and Stakeholders’ Relationship Committee

Key Managerial Personnel for the 2022-23

ii) Nomination and Remuneration Committee
Mr. Onkar Shetye (DIN: 06372831) – Executive Director
iii) Corporate Social Responsibility Committee
Mr. Kunal Karan – Chief Financial Officer
iv) Executive Investment Committee
Ms. Sonia Jain – Company Secretary & Compliance Officer^

Details about composition, powers, role, meetings held and attendance of members at meetings of the relevant Committee are provided in the Report on Corporate Governance which forms part of this Annual Report.

^ Ms. Khushbu Rakhecha, ceased to be Compliance Officer w.e.f. February 17, 2023 and Ms. Sonia Jain, Company Secretary was appointed as Compliance officer w.e.f. February 17, 2023.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

BOARD OF DIRECTORS’ REPORT (Contd.)

15. PERFORMANCE EVALUATION

The Company has a policy for performance evaluation of the Board, Committees and other individual Directors (including independent directors) which includes criteria for performance evaluation of Executive and Non-Executive Directors. In compliance with the requirement of the provisions of Section 178 of the Act read with Rules framed thereunder and Schedule IV to the Act as well as Regulation 17(10) of the SEBI Listing Regulations, the performance evaluation of individual directors, Board committees and Board as a whole were carried out during the year under review. For the Financial Year 2022-23, the Company adopted the Internal methodology for carrying out the Board Evaluation exercise.

The performance evaluation process of the Independent Director was based on the declarations received from the Independent Director that they fulfilled the criteria of independence as required under the Act and SEBI Listing Regulations.

16. NOMINATION AND REMUNERATION POLICY

The Company has a policy on remuneration of Directors and Key Managerial Personnel. The policy is approved by the Nomination and Remuneration Committee and the Board of Directors of the Company.

This policy is available on the website of the Company and the link for the same is provided below: https:// aurumproptech.in/investor/policies/.

17. PEOPLE PRACTICES

As of March 31, 2023, Aurum PropTech Limited had a total headcount of 80. The Directors wish to place on record their appreciation for the contributions made by team members of the Company during the year under review.

18. INTERNAL CONTROL SYSTEM

A strong internal control system is pervasive in the Company. The Company has documented a robust and comprehensive internal control system for all the major processes to ensure the reliability of financial reporting.

19. INTERNAL CONTROL OVER FINANCIAL REPORTING

The Company has in place adequate internal financial controls commensurate with the size, scale, and complexity of its operations.

The Company has a robust financial closure, certification mechanism for certifying adherence to various accounting policies, accounting hygiene, and accuracy of provisions and other estimates.

20. STATUTORY AUDITORS AND THEIR REPORT

Pursuant to Section 139(1) and other applicable provisions of the Companies Act, 2013 M/s. M S K A & Associates, Chartered Accountants (ICAI Firm Registration no.: 105047W) were appointed as the Statutory Auditors of the Company at the 6th AGM held on August 06, 2019, to hold office for a period of 5 consecutive years from the conclusion of the 6th AGM till the conclusion of the 11th AGM of the Company. The Statutory Auditors have confirmed that they are not disqualified from continuing as Auditors of the Company.

Further, the report of the Statutory Auditors is provided in the financial section of the Annual Report. The observations made in the Auditors’ Report are self-explanatory and do not contain any qualifications, reservations, or adverse remarks. Therefore, it does not call for any further comments.

21. SECRETARIAL AUDITOR

The Secretarial Audit for the year 2022-23 was undertaken by M/s Ainesh Jethwa & Associates. Practicing Company Secretary, the Secretarial Auditor of the Company.

The Secretarial Audit Report for the financial year ended March 31, 2023 under the Act, read with Rules made thereunder and Regulation 24A of the Listing Regulations of the Company and its Material

BOARD OF DIRECTORS’ REPORT (Contd.)

Subsidiary are annexed herewith as “Annexure-III and Annexure-III A” respectively.

The report is self-explanatory and with regards to observation in the Secretarial Audit Report, the Board will ensure that they will be more vigilant.

The Board of Directors, on the recommendation of the Audit Committee, has appointed M/s Ainesh Jethwa & Associates, Practicing Company Secretary, Mumbai to conduct the secretarial audit of the Company for 2023-24. They have confirmed their eligibility for the appointment.

During the year under review, the Statutory Auditors and Secretarial Auditors have not reported any instances of frauds committed in the Company by its officers or employees, to the Audit Committee under Section 143(12) of the Companies Act, 2013, details of which needs to be mentioned in this Report.

22. INTERNAL AUDITOR

As required under Section 138 of the Act and Rule 13 of the Companies (Accounts) Rules, 2014, the Internal Audit function is performed by M/s. Protune KS Aiyar Consultants Private Limited the Internal Auditor of the Company. The scope, functioning, periodicity, and methodology for conducting the internal audit have been formulated in consultation with the Audit Committee.

The Board of Directors, on the recommendation of the Audit Committee, has appointed M/s. Protune KS Aiyar Consultants Private Limited to conduct the internal audit of the Company for 2023-24. They have confirmed their eligibility for the appointment.

23. REPORTING OF FRAUDS BY AUDITORS

During the year under review, neither Statutory Auditors nor Secretarial Auditor has reported to the Audit Committee any instances of fraud committed against the Company by its officers or employees, in terms of Section 143(12) of the Act.

24. COST AUDIT

The provisions of Companies (Cost Records and Audit) Rules, 2014 are not applicable to your Company.

25. RISK MANAGEMENT

The organization’s Governance Risk Compliance framework plays a vital role in mitigating enterprise risks, including technology, strategic, macroeconomic, key managerial personnel, competitive edge risks, clients and accounts risks, cybersecurity, data protection, and privacy risks, as well as contractual, execution, and delivery risks. By leveraging this comprehensive framework, the Company effectively manages and addresses these risks, ensuring a secure and stable operational environment while successfully fulfilling its commitments.

26. PARTICULARS OF LOANS GIVEN, GUARANTEES

GIVEN AND INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013

Details of loans, guarantees, and investments covered under provisions of Section 186 of the Companies Act, 2013 are provided in the notes to the Financial Statements.

27. RELATED PARTY TRANSACTIONS

All Related Party Transactions during the financial year under review were in the ordinary course of business and at arm’s length basis and complies with the applicable provisions of the Act and SEBI Listing Regulations. There were no material significant related party transactions entered into by the Company with Promoters, Directors or Key Managerial Personnel, etc. which may have potential conflict with the interest of the Company at large.

All the Related Party Transactions are presented to the Audit Committee and Board for their approval. Omnibus approval is given by Audit Committee for the transactions which are foreseen and repetitive. A statement of all Related Party Transactions is presented before the Audit Committee and Board every quarter, specifying the nature, value, and terms and conditions of the transactions. The said transactions are approved by the Audit Committee as well as by the Board.

The Company in terms of Regulation 23 of the SEBI Listing Regulations submits on the date of publication of its standalone and consolidated financial results for the half year, disclosures of

Aurum PropTech Limited Annual Report 2022-23

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BOARD OF DIRECTORS’ REPORT (Contd.)

related party transactions on a consolidated basis, in the format specified in the relevant accounting standards to the stock exchanges. The said disclosures can be accessed on the website of the Company at https://aurumproptech.in.

The Related Party Transactions Policy as approved by the Board is available on the Company’s website and can be accessed at https://aurumproptech.in/ investor/policies/.

Details of the transaction(s) of your Company with the entity(ies) belonging to the promoter/promoter group which hold(s) more than 10% shareholding in the Company as required under para A of Schedule V of the Listing Regulations are provided as part of the financial statements. The details of the related party transactions as per Indian Accounting Standards (IND AS) – 24 are set out in Notes of Financial Statements of the Company. There are no such related party transactions required to be reported in Form AOC-2, enclosed as Annexure – II to this report.

28. ANNUAL RETURN

Pursuant to Section 92(3) of the Act, the annual return of the Company as on March 31, 2023 is available on the Company’s website and can be accessed at https://aurumproptech.in/investor/ financial-information/annual-reports/.

29. WHISTLE BLOWER POLICY/ VIGIL MECHANISM

In compliance with the requirement of the Act and the SEBI Listing Regulations, the Company has established a Whistle Blower Policy/ Vigil mechanism, and the same is placed on the Company’s website and can be accessed at https:// aurumproptech.in/investor/policies/.

The employees of the Company are made aware of the said policy at the time of joining the Company.

30. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013 In accordance with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 (“POSH Act”)

along with the Rules made thereunder, the Company has in place a policy which mandates no tolerance against any conduct amounting to sexual harassment of women at workplace.

All employees (permanent, contractual, temporary and trainees) are covered under the said policy. During the financial year under review, the Company has not received any complaint of Sexual Harassment of Women at Workplace. The Company has constituted Internal Committee(s) (“ICs”) to redress and resolve any complaints arising under the POSH Act.

31. CORPORATE SOCIAL RESPONSIBILITY (CSR)

In compliance with Section 135 of the Act, the Board of Directors of the Company has formed a CSR Committee. The composition of the CSR Committee and a brief outline of the CSR policy of the Company with the amount spent by the Company on CSR activities during the year are set out in Annexure-I of this report in the format prescribed in the Companies (Corporate Social Responsibility Policy) Rules, 2014. The CSR Policy is available on the website of the Company at https://aurumproptech.in/investor/ policies/.

32. PARTICULARS OF EMPLOYEES AND REMUNERATION

The remuneration paid to the Directors, Key Managerial Personnel is in accordance with the Nomination and Remuneration Policy formulated in accordance with Section 178 of the Act and Regulation 19 read with Schedule II of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Further details on the same are given in the Corporate Governance Report which forms part of this Annual Report.

The information required in terms of Section 197(12) of the Act read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rule, 2014 is given below:

I. Information as per Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

BOARD OF DIRECTORS’ REPORT (Contd.)

a) Ratio of the remuneration of each director to the median remuneration of the employees (“MRE”) of the Company for the financial year 2022-23.

Name of the Director Ratio to MRE Executive Directors

Mr. Onkar Shetye 11.23X Non-Executive Directors Mr. Srirang Athalye Not Applicable Mr. Ramashrya Yadav Not Applicable Mr. Vasant Gujarathi Not Applicable Mr. Ajit Joshi Not Applicable Ms. Padma Deosthali Not Applicable

b) Percentage increase in remuneration of each Director/ KMP in the financial year 2022-23:

2022-23:
Name of the Director/ Key Managerial Personnel	% increase in remuneration in the fnancial year 2022-23*
Mr. Onkar Shetye	46%
Mr. SrirangAthalye	N.A
Mr. Ramashrya Yadav	N.A
Mr. Vasant Gujarathi	N.A
Mr. Ajit Joshi	N.A
Mr. Kunal Karan, Chief Financial Offcer	10%
Ms. Sonia Jain, Company Secretary & Compliance Offcer*	29%
Ms. Khushbu Rakhecha, Compliance Offcer*	60%

*Ms. Khushbu Rakhecha, ceased to be Compliance Officer w.e.f. February 17, 2023 and Ms. Sonia Jain Company Secretary was appointed as Compliance officer w.e.f. February 17, 2023. Ms. Sonia Jain acted as secretary to all the committees constituted by the Board.

c) Percentage increase in the MRE during the financial year 2022-23: -13.97%.
d) Number of permanent employees on the rolls of the Company as on March 31, 2023: 80
e) Average percentage increase made in salaries of employees other than

Managerial Personnel in the financial year was 9% vis-a-vis an increase of 36% in the salaries of Managerial Personnel.

f) Affirmation that the remuneration is as per the remuneration policy of the Company:

We affirm that the remuneration is as per the remuneration policy of the Company.

II. Information as per Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

The statement containing particulars of employees in terms of remuneration drawn is provided in a separate annexure forming part of this report. However, having regard to Section 136 of the Act, the Annual Report excluding the aforesaid annexure, is being sent to all the members of the Company and others entitled thereto. The said annexure is open for inspection and any member who wishes to inspect shall send a request for the same on the e-mail id of the Company i.e. investors@ aurumproptech.in

33. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS

During the year under review, no significant and material orders were passed by the regulators or courts, or tribunals impacting the going concern status and operations of the Company.

34. PUBLIC DEPOSITS

During the year the Company has not accepted deposits from the public falling within the ambit of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

35. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS, AND OUTGO

(a) Conservation of energy: considering the nature of the business of the Company, energy costs constitute a small portion of the total cost and there is not much scope for energy

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BOARD OF DIRECTORS’ REPORT (Contd.)

conservation. Exchange Nil Nil earned (i) the steps are taken or impact on the conservation of energy. 36. STATEMENT OF MANAGEMENT RESPONSIBILITY (ii) the steps taken by the Not FOR CONSOLIDATED FINANCIAL STATEMENTS Company for utilizing Applicable The Holding Company’s Board of Directors are alternate sources of energy responsible for the preparation and presentation of (iii) the capital investment these Consolidated Financial Statements in terms in energy conservation of the requirements of the Act that give a true and equipment’s fair view of the consolidated financial position, (b) Technology absorption: consolidated financial performance including other comprehensive income, consolidated cash (i) the efforts made towards technology absorption flows and consolidated statement of changes the benefits derived like in equity of the Group in accordance with the product improvement, accounting principles generally accepted in India, cost reduction, product including the Indian Accounting Standards (Ind development, or import AS) specified under Section 133 of the Act read substitution with the Companies (Indian Accounting Standards) in case of imported Rules, 2015, as amended. The respective Board of technology (imported during Directors of the companies included in the Group the last three years reckoned Not are responsible for maintenance of adequate from the beginning of the financial year)Applicable accounting records in accordance with the (a) the details of technology provisions of the Act for safeguarding of the assets imported of the Group and for preventing and detecting frauds (b) the year of import and other irregularities; selection and application of appropriate accounting policies; making judgment’s (c) whether the technology and estimates that are reasonable and prudent; has been fully absorbed and the design, implementation and maintenance (d) if not fully absorbed, areas where absorption of adequate internal financial controls, that were has not taken place, and operating effectively for ensuring the accuracy the reasons thereof and completeness of the accounting records, (iv) the expenditure incurred on relevant to the preparation and presentation of Nil Research and Development the Consolidated Financial Statements that give a true and fair view and are free from material (c) Foreign exchange earnings and Outgo misstatement, whether due to fraud or error, which Total foreign exchange used and earned by have been used for the purpose of preparation Aurum PropTech Limited of the Consolidated Financial Statements by the Directors of the Holding Company, as aforesaid. In (` in Lakhs) preparing the Consolidated Financial Statements, Year ended Year ended the respective Board of Directors of the companies March 31, March 31, 2023 2022 included in the Group are responsible for assessing Exchange 19.28 11.00 the ability of the Group to continue as a going used concern, disclosing, as applicable, matters related

(b) Technology absorption:

(c) Foreign exchange earnings and Outgo

Aurum PropTech Limited	Aurum PropTech Limited	Aurum PropTech Limited
(`in Lakhs)
	Year ended March 31, 2023	Year ended March 31, 2022
Exchange used	19.28	11.00

BOARD OF DIRECTORS’ REPORT (Contd.)

to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

Those respective Boards of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

37. PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

No application has been made under the Insolvency and Bankruptcy Code; hence the requirement to disclose the details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year along with their status as at the end of the financial year is not applicable.

38. DISCLOSURE UNDER RULE 8(5)(XII) OF THE COMPANIES (ACCOUNTS) RULES,2014

During the year, there were no instances where your Company required the valuation for one time settlement or while taking the loan from the Banks or Financial institutions.

39. CORPORATE GOVERNANCE

The Company has complied with corporate governance requirements as prescribed under the Act and the SEBI Listing Regulations. A separate section on corporate governance practices followed by the Company together with the certificate from M/s. Ainesh Jethwa & Associates., Company

Secretary in Practice forms an integral part of this report.

40. COMPLIANCE WITH SECRETARIAL STANDARDS

The Company has complied with all applicable mandatory Secretarial Standards issued by the Institute of Company Secretaries of India.

41. ACKNOWLEDGMENT

Your directors place on record their appreciation for employees at all levels, whose hard work and solidarity have contributed to the growth and performance of your Company. Your directors also thank the customers, vendors, bankers and shareholders of the Company for their continued support.

Your directors also thank the Central and State Governments and other statutory authorities for their continued support.

For and on behalf of the Board Aurum PropTech Limited

Onkar Shetye Srirang Athalye Executive Director Non-Executive Director DIN: 06372831 DIN:02546964

Date: July 18, 2023 Place: Navi Mumbai

Aurum PropTech Limited Annual Report 2022-23

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ANNEXURE – I

ANNUAL REPORT ON CSR ACTIVITIES

1. A brief outline on CSR Policy Company

The CSR Policy has been laid out for the Company to comply with the provisions of Section 135 of the Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Rules, 2014. We, at Aurum PropTech Limited, are committed to spending up to 2% of the average net profits for the preceding three financial years on CSR projects/ programs related to activities specified in Schedule VII to the Companies Act, 2013 or such activities as may be notified from time to time. CSR Committee was constituted by the Board of Directors of the Company, at its meeting held on June 01, 2015, to meet the requirements of the Companies Act, 2013. The Committee has adopted CSR Policy and same is uploaded on the Company’s website at https://aurumproptech.in/investor/policies/.

2. Composition of CSR Committee:

Sr. no.	Name of Director	Designation / Nature of Directorship	Number of meetings of CSR Committee held during theyear	Number of meetings of CSR Committee attended during theyear
1.	Mr. Srirang Athalye	Non-Executive Director (Chairman)	1	1
2.	Mr. Vasant Gujarathi	Independent Director (Member)	1	1
3.	Mr. Ramashrya Yadav	Non-Executive Director (Member)	1	1
4.	Mrs. Padma Deosthali	Independent Director (Member)	1	1

Provide the web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on the website of the Company. https://www.aurumproptech.in/
Provide the details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of rule 8 of the Companies (Corporate Social responsibility Policy) Rules, 2014, if applicable (attach the report): Not Applicable
A) Average net profit of the Company as per section 135(5): ` 1,166.63 Lakhs
B) Two percent of average net profit of the Company as per sub-section (5) of section 135: ` 23.33 Lakhs
C) Surplus arising out of the CSR Projects or programmes or activities of the previous financial years: 0
D) Amount required to be set-off for the financial year, if any: 0
E) Total CSR obligation for the financial year [(b)+(c)-(d)]: ` 23.33 Lakhs
A) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project). (in Lakhs): 23.33 Lakhs
B) Amount spent in Administrative Overheads: Nil

ANNEXURE – I (Contd.)

F) Excess amount for set-off, if any:

Sr. No.	Particular	Amount (in`)
(1)	(2)	(3)
i.	Twopercent of average netproft of the Companyasper sub-section(5)of section 135	`23.33 Lakhs
ii.	Total amount spent for the Financial Year	`23.33 Lakhs
iii.	Excess amount spent for the Financial Year[(ii)-(i)]	-
iv.	Surplus arising out of the CSR projects or programmes or activities of the previous Financial Years,if any	-
v.	Amount available for set off in succeedingFinancial Years[(iii)-(iv)]	-

7. Details of Unspent Corporate Social Responsibility amount for the preceding three Financial Years:

1	2	3	4	5	6	6	7	8
Sr. no	Preceding Financial Year(s)	Amount transferred to Unspent CSR Account under subsection (6) of section 135 (in`)\|Balance<br>Amount in<br>Unspent CSR<br>Account under<br>subsection (6)<br>of section 135<br>(in`)	Amount Spent in The Financial Year (in`)\|Amount transferred<br>to a Fund as specifed<br>under Schedule VII as<br>per second proviso to<br>subsection (5) of section<br>135, if any\|\|Amount<br>remaining<br>to be<br>spent in<br>succeeding<br>Financial<br>Years (in`)	Defciency, if any
					Amount (in`)	Date of Transfer
1	FY -1 (2020-21)	-	-	-	-	-	-	-
2	FY-2 (2021-22)	-	-	-	-	-	-	-
3	FY-3 (2022-23)	-	-	-	-	-	-	-

Whether any capital assets have been created or acquired through Corporate Social Responsibility amount spent in the Financial Year:

No

Specify the reason(s), if the Company has failed to spend two per cent of the average net profit as per subsection (5) of section 135:

Not applicable

For and on behalf of the Board Aurum PropTech Limited

C) Amount spent on Impact Assessment, if applicable: Not applicable
D) Total amount spent for the Financial Year [(a)+(b)+(c)]: ` 23.33 Lakhs
E) CSR amount spent or unspent for the Financial Year

Date: July 18, 2023 Place: Navi Mumbai

Onkar Shetye Srirang Athalye Executive Director Director and Chairman of CSR Committee DIN: 06372831 DIN:02546964

Total Amount Amount Unspent (in **) Spent for the Total Amount transferred to Amount transferred to any fund specified under Financial Year. Unspent CSR Account as per Schedule VII as per second proviso to sub-section (5) (in** ) subsection (6) of section 135. of section 135 Amount Date of transfer. Name of the Amount Date of transfer. Fund ` 23.33 Lakhs - - - - -

Aurum PropTech Limited Annual Report 2022-23

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ANNEXURE – II

FORM AOC-2

[Pursuant to clause (h) of sub-section (3) of Section 134 of the Companies Act, 2013 and Rule 8(2) of the Companies (Accounts) Rules, 2014]

Form for disclosure of particulars of contracts/ arrangements entered into by the Company with related parties referred to in sub-section (1) of Section 188 of the Companies Act, 2013 including certain arm’s length transactions under third proviso thereto

1. Details of contracts or arrangement or transactions not at arm’s length basis:

During financial year 2022-23, the Company has not entered into any contract or arrangement or transaction with its related parties which is not at arm’s length basis.

2. Details of material contracts or arrangement or transactions at arm’s length basis:

The details of material contract or arrangement or transaction at arm’s length basis for the year ended March 31, 2023 are as follows:

Name of the Related Party	Nature of Relationship	Nature of Contract/ Arrangement/ Transaction	Duration of Contract/ Arrangement/ Transaction	Salient terms of Contract/ Arrangement/ Transaction including the value	Date of approval of the Board, if any	Amount paid as advance, if any
Not Applicable

For and on behalf of the Board Aurum PropTech Limited

Onkar Shetye Srirang Athalye

Date: July 18, 2023 Place: Navi Mumbai

Executive Director Non-Executive Director DIN: 06372831 DIN:02546964

ANNEXURE III

Form No. MR3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2023

[Pursuant to Section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014]
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;

To,

The Members,

(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;

(Formerly Known as “Majesco Limited “)

(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings;

Aurum Building Q1, Aurum Q Parc,

Thane Belapur Road, Ghansoli, Navi Mumbai Thane 400710.

(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’) read with the notifications, guidelines and circulars issued by Securities and Exchange Board of India or Stock Exchanges in this regards, to the extent applicable to the Company:

I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by M/s AURUM PROPTECH LIMITED (Formerly known as Majesco Limited) (CIN L72300MH2013PLC244874) (hereinafter called the Company). Secretarial Audit was conducted in a manner that provided me with a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion thereon.

(a) The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’);
(b) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;

Based on my verification of the M/s. Aurum PropTech Limited’s books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives electronically during the conduct of secretarial audit, I hereby report that in my opinion, the Company has, during the audit period covering the financial year ended on March 31, 2023 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

(c) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(d) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018;
(e) Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021;
(f) The Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021; Not applicable to the Company during the Audit period

I have examined electronically the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year ended on March 31, 2023 and found them to be in order, according to the provisions of:

(g) The Securities and Exchange Board of India (Depositories and Participant) Regulations, 2018;
(i) The Companies Act, 2013 (the Act) and the rules made thereunder:

Aurum PropTech Limited Annual Report 2022-23

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ANNEXURE III(Contd.)

(h) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021; Not applicable to the Company during the Audit period

and

(i) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; Not applicable to the Company during the Audit period.
(j) We have relied on the representations made by the Company and its officers for compliance under other laws specifically applicable to the industry to which the Company belongs, as under subject to the explanation given below.:
a. Information Technology Act, 2000 and the rules made thereunder.
Based on the review of systems and processes adopted by the Company and the Statutory Compliance self-certification by functional head of the Company which was taken on record by the Board of Directors, there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines as per the list of such laws as mentioned above in point no. j. During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards etc. mentioned above.

I have also examined the compliance with regard to the applicable clauses of the following and are generally complied with.

(i) Secretarial Standards issued by The Institute of Company Secretaries of India with respect to Board and general meetings.
(ii) The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as entered by the Company with Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited (NSEIL).
During the period under review the Company has complied with the applicable provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above subject to the following observations:
Newspaper advertisement given in regional newspaper was given in English language instead of Regional language for the Board Meeting held on 28.07.2022 pursuant to the Regulation 47 of SEBI (LODR) Regulation, 2015.

I further report that:

The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, NonExecutive Directors and Independent Directors including women Director.

There was no change in the composition of the Board of Directors during the period under review.

Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance for meetings other than those held at shorter notice, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

All decisions at Board Meetings and Committee Meetings were carried out unanimously as recorded in the minutes of the meetings of the Board of Directors or Committees of the Board, as the case may be.

I further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.

I further Report that, during the period under review;

(i) The Board of Directors in their meeting held on May 26, 2022, approved Investment of ` 23.50 Crore in data analytics company named ‘Aurum Analytica Private Limited’ (Formerly known as Blink Advisory Services Private Limited) by subscribing to equity shares.
(ii) The members of the Company at Annual General Meeting held on September 29, 2022 accorded its approval by way of Special Resolution for:

ANNEXURE III(Contd.)

a) increase in limits of raising the funds by way of securities from 600.00 Crore to 1,000.00 Crore.
b) increase in limits of making Investment from 300.00 Crore to 600.00 Crore pursuant to section 186 of the Companies Act, 2013 .
c) increase in the borrowing limits to ` 200.00 Crore pursuant to section 180 (1) (c) of the Companies Act, 2013.
d) creating charges on the assets of the Company pursuant to section 180(1)(a) of the Companies Act, 2013 to secure the borrowings made / to be made under section 180(1)(c) of the Companies Act, 2013
e) the issuance of ESOPs to employees of subsidiary / Subsidiaries Companies as per ‘Aurum PropTech Employee Stock Option Plan 2021’.
f) Approve the change in objects of Rights Issue proceeds within the defined parameter.
(iii) The Board of Directors in their Meeting held on October 18, 2022 approved the Investment of USD
1.00 million (US Dollar One million) in Monk Tech Labs Pte. Limited by way of Subscription of Fully Convertible Debentures (FCDs).
(iv) The Board of Directors in their Meeting held on January 18, 2023 approved the investment of ` 7.00 Crore in Aurum RealTech Services Private Limited, a wholly owned subsidiary of the Company in tranches.

This report is to be read with my letter of even date which is annexed as Annexure B and forms an integral part of this report.

For Ainesh Jethwa & Associates

Practising Company Secretaries Peer Review Certificate No. 1727/2022

Aineshkumar Jethwa

Proprietor Membership No. ACS 27990 Place: Mumbai COP No. : 19650 Date: July 18, 2023 UDIN: A027990E000604742

Aurum PropTech Limited Annual Report 2022-23

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Management Review

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Governance

ANNEXURE B

To,

The Members,

AURUM PROPTECH LIMITED

(Formerly Known as “Majesco Limited “)

Aurum Building Q1, Aurum Q Parc,

ANNEXURE III A

FORM NO. MR-3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED MARCH 31, 2023

[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]

Thane Belapur Road, Ghansoli, Navi Mumbai

Thane 400710

My report of even date is to be read along with this letter:

Maintenance of Secretarial record is the responsibility of the management of the Company. My responsibility is to express as opinion on these secretarial records based on my audit.
I have followed the audit practices and process as appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in secretarial records. I believe that the process and practices, followed by me, provide as reasonable basis of my opinion.
I have not verified the correctness and appropriateness of financial records and books of accounts of the Company.
Wherever required, I have obtained the Management representation about the compliance of laws and regulations and happening
The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards are the responsibility of management. My examination was limited to the verification of procedures on test basis.
The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the management has conducted the affairs of the Company.

For Ainesh Jethwa & Associates

Practising Company Secretaries Peer Review Certificate No. 1727/2022

Aineshkumar Jethwa

Proprietor Membership No. ACS 27990 COP No. : 19650 UDIN: A027990E000604742

Place: Mumbai Date: July 18, 2023

To,

The Members,

K2V2 TECHNOLOGIES PRIVATE LIMITED

(CIN: U72900PN2019PTC182955)

Sr. No. 9/6, H. No 1/2, 2nd and 3rd Floor, Near Holiday Inn, Mhalunge, Pune-411045, Maharashtra, India

We have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by K2V2 TECHNOLOGIES PRIVATE LIMITED (hereinafter called ‘the Company’ ) for the audit period covering the financial year ended on March 31, 2023 (the ‘audit period’ ). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts / statutory compliances and expressing our opinion thereon.

Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of Secretarial Audit, the explanations and clarifications given to us and the representations made by the Management and considering the relaxations granted by the Ministry of Corporate Affairs and Securities and Exchange Board of India warranted due to the spread of the COVID-19 pandemic, we hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on March 31, 2023 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year ended on March 31, 2023 according to the provisions of:

i. The Companies Act, 2013 ( ‘the Act’ ) and the Rules made thereunder;
ii. The Securities Contracts (Regulation) Act, 1956 ( ‘SCRA’ ) and the rules made thereunder; (Not applicable to the Company during the audit period) ;
iii. The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
iv. The Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings; (Not applicable to the Company during the audit period) ;
v. The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 ( ‘SEBI Act’ ):-
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; ( Not applicable to the Company during the audit period );
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015; ( Not applicable to the Company during the audit period );
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018; ( Not applicable to the Company during the audit period );
(d) The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014; ( Not applicable to the Company during the audit period );
(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; ( Not applicable to the Company during the audit period );

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

ANNEXURE III A (Contd.)

(f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client; ( Not applicable to the Company during the audit period );
(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; ( Not applicable to the Company during the audit period ); and
(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; ( Not applicable to the Company during the audit period ).
vi. The Management has identified and confirmed the following laws as being specifically applicable to the Company:
(a) The Information Technology Act, 2000; and
(b) The Trade Marks Act, 1999.

We have also examined compliance with the applicable clauses of the followings:

a. Secretarial Standards issued by the Institute of Company Secretaries of India (‘ the ICSI ’); and
b. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘ SEBI LODR ’) - Regulation 24A for applicability of Secretarial Audit to material unlisted subsidiaries incorporated in India.

As per the representations and clarifications made to us, during the audit period under review, the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above.

We further report that, the Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors.

Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance for meetings other than those held at shorter notice for which necessary consents have been sought at the meeting, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

All decisions at Board Meetings were taken unanimously as recorded in the minutes of the meetings of the Board of Directors.

We further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations, standards and guidelines.

We further report that, as per the representations and clarifications made to us, during the audit period under review, there were no specific events / actions having a major bearing on the Company’s affairs in pursuance of the above referred laws, rules, regulations, guidelines, standards, etc.

This Report is to be read with our letter of even date which is attached as ANNEXURE-A and forms an integral part of this Report.

For MAURYA & ASSOCIATES COMPANY SECRETARIES Firm Unique Code: S2019MH680700

Sd/-

CS Sanjay Maurya

Practicing Company Secretary UDIN: A055333E000582981 ACS No : 55333 | COP No : 22070 Mumbai, July 11, 2023 PR No: 2759/2022

ANNEXURE-A

To,

The Members,

K2V2 TECHNOLOGIES PRIVATE LIMITED

(CIN: U72900PN2019PTC182955) Sr. No. 9/6, H. No 1/2, 2nd and 3rd Floor, Near Holiday Inn, Mhalunge, Pune-411045, Maharashtra, India

Our report of even date is to be read along with this letter.

Management`s Responsibility:

Maintenance of Secretarial records is the responsibility of the management of the Company. Our responsibility is to express an opinion on these Secretarial records based on our audit.

Auditor`s Responsibility:

We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in Secretarial records. We believe that the processes and practices we followed proved a reasonable basis for our opinion.
We have not verified the correctness and appropriateness of financial records and books of account of the Company.
Wherever required, we have obtained the Management Representation about the compliance of laws, rules and regulations and happening of events etc.
The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of management. Our examination was limited to the verification of procedures on test basis.

Disclaimer:

The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the management has conducted the affairs of the Company.

For MAURYA & ASSOCIATES COMPANY SECRETARIES Firm Unique Code: S2019MH680700

Sd/-

CS Sanjay Maurya

Practicing Company Secretary ACS No : 55333 | COP No : 22070 PR No: 2759/2022

UDIN: A055333E000582981 Mumbai, July 11, 2023

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review Governance

Financial Statements

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FORM AOC-I
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% of shareholding	44.44%	40%	100%	100%	100%	49%	100%
Proposed Dividend	-	-	-	-	-	-	-
Proft after taxation	(1,002)	-	(115)	(3)	(121)	(306)	(46)
Provision for taxation	(360)	-	(39)	1	(398)	-	(7)
Proft before taxation	(1,362)	(715)	(154)	(2)	(519)	(306)	(52)
Turnover	5,065	356	788	-	5,179	174	679
Total Investments	-	-	-	-	-	156	10
Total Liabilities	3,521	542	393	29	10,205	402	332
Total Assets	4,205	283	676	621	8,242	470	635
Reserves & surplus	679	(258)	(117)	(9)	(1,971)	(464)	312
Share capital	5	0	400	600	8	688	1
Exchange Rate	1	82.22	1	1	1	1	1
Reporting period for the subsidiary concerned, if different from the holding company's reporting period	April 01, 2022 to March 31, 2023	August 01, 2022 to July 31, 2023	April 01, 2022 to March 31, 2023	April 01, 2022 to March 31, 2023	April 01, 2022 to March 31, 2023	April 01, 2022 to March 31, 2023	April 01, 2022 to March 31, 2023
Reporting currency	`\|USD\|`	`\|`	`\|`
The date since which Subsidiary was acquired	October 1, 2021	March 17, 2021	December 6, 2021	December 1, 2021	June 17, 2022	September 1, 2022	October 15, 2022
Name of the Company	K2V2 Technologies Private Limited	The MonkTech Labs Pte Limited	Aurum RealTech Services Private Limited	Aurum Software and Solution Private Limited	Hello World Technologies Private Limited	Integrow Asset Management Private Limited	Aurum Analytica Private Limited (formerly known as Blink Advisory Services Private Limited)
Sr. No	1	2	3	4	5	6	7

(Pursuant to frst proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014) Statement containing salient features of the fnancial statement of subsidiaries/associates/joint ventures Part “A”: Summary of fnancial information of associates (` In Lakhs) ANNEXURE – IV (Contd.)	% of shareholding			1. Names of associates or joint ventures which are yet to commence operations:. N.A 2. Names of associates or joint ventures which have been liquidated or sold during the year: N.A For and on behalf of the Board Aurum PropTech Limited Onkar Shetye Vasant Gujarathi Executive Director Non-Executive and Independent Director DIN: 06372831 DIN:06863505 Place: Navi Mumbai Kunal Karan Sonia Jain Date: July 18, 2023 Chief Financial Offcer Company Secretary M No - A52138
	Proposed Dividend
	Proft after taxation
	Provision for taxation
	Proft before taxation
	Turnover
	Total Investments
	Total Liabilities
	Total Assets
	Reserves & surplus
	Share capital
	Exchange Rate

	Reporting currency
	The date since which Subsidiary was acquired
	Name of the Company
	Sr. No

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT

Aurum PropTech has a well-defined policy framework inter alia consisting of the following:

INTROduCTION:

A Report on compliance with the principles of Corporate Governance as prescribed by The Securities and Exchange Board of India (SEBI) in terms of Regulation 34 read with Chapter IV and Schedule V of SEBI (Listing Obligations and Disclosure Requirements Regulations, 2015 [SEBI Listing Regulations] and the report contains the details of Corporate Governance systems and processes at Aurum PropTech Limited.

Code of Conduct for Directors and Senior Management Personnel
Code of fair disclosures of unpublished price sensitive information
Code of Conduct for Prohibition of Insider Trading
Code of Ethics for all Employees
Nomination and Remuneration Policy for Directors and KMP

COmPANy’s PhILOsOPhy ON CORPORATE GOVERNANCE

Aurum PropTech Limited (hereinafter referred to as “Aurum PropTech” or “the Company”) strongly believes that instilling good corporate governance practices in each & every function of the organization leads to achieve sustainable growth and enhances long term value for all the stakeholders. The Company always endeavors to carry out its business operations in a fair, transparent and ethical manner and also holds itself accountable and responsible to the society it belongs. Your Company is committed to sound principles of Corporate Governance and considers it imperative to abide by the laws and regulations of the land in letter and spirit and is committed to the highest standards of corporate ethics.

Corporate Social Responsibility Policy
Policy on Related Party Transactions
Policy On Materiality of Related Party Transactions
Policy for determining Material Subsidiaries
Whistle Blower Policy
Policy on Archival of Disclosures
Policy on Board Diversity
Policy on evaluation of performance of directors
Familiarization Programme for Independent Directors

The Governance processes and systems are continuously reviewed to ensure highest ethical and responsible standards being practiced by your Company. The Company recognizes that good Corporate Governance is a continuous exercise and reiterates its commitment to pursue highest standards of Corporate Governance in the overall interest of all its stakeholders for effective implementation of the Corporate Governance practices.

Policy on prevention of Sexual Harassment at workplace
Policy on Disclosure of Material Events
Policy on Archival of Disclosures
Information Technology Backup & Recovery Policy
Information Technology Asset Management Policy

Aurum PropTech’s Governance structure broadly comprises of the Board of Directors and the Committees of the Board at the apex level and the Management structure at the operational level. The Board sets out the overall corporate objectives and provides direction and independence to the management to achieve these objectives for value creation through sustained growth. The Board seeks accountability of the management in creating long-term sustainable growth to ensure that the aspirations of stakeholders are fulfilled thereby bringing about an enabling environment for value creation through sustainable and profitable growth.

A. BOARd OF dIRECTORs (“ThE BOARd”)

a. Size and Composition of the Board

The Board of Directors as on March 31, 2023, comprised of 6 (six) Directors with optimum combination of Executive Director and NonExecutive Directors. i.e. One Executive Director two Non-Executive Directors and three Non-Executive Independent Directors, including one Woman Independent Director.

CORPORATE GOVERNANCE REPORT (Contd.)

The Board Members are not related to each other, and the number of Directorships/Committee memberships held by Executive and Non-Executive Independent Directors are within the permissible limits under SEBI (LODR), Regulations, 2015 and Companies Act, 2013.

The details of each member of the Board as on March 31, 2023 along with number of directorship(s)/ committee membership(s) held by Directors in companies other than the Company along with all other requisite information are given herein below.

given herein below.
Name of the Director & dIN	designation	Original Date of Appointment	directorship in other Indian Companies	Position held in Committees of the Board of other Indian Companies		share holding as on march 31, 2023
				As Chair -person	As member
Mr. Ramashrya Ramjag Yadav (DIN: 00145051)	Non-Executive Director	July 23, 2021	2	NIL	NIL	47,900
Mr. Srirang Yashwant Athalye (DIN: 02546964)	Non- Executive Director	May 04, 2021	15	NIL	NIL	80,568
Mr. Onkar Sunil Shetye (DIN: 06372831)	Executive Director	May 04, 2021	4	NIL	NIL	NIL
Mr. Vasant Vitthaldas Gujarathi (DIN: 06863505)	Non-Executive Independent Director	March 03, 2020	4	1	3	NIL
Mr. Ajit Ravindra Joshi (DIN: 08108620)	Non-Executive Independent Director	July 23, 2021	1	NIL	NIL	NIL
Mrs. Padma Samir Deosthali (DIN: 09250994)	Non-Executive Independent Director	July 23, 2021	2	NIL	NIL	NIL

Notes:

1) Directorships in other companies include all companies, whether listed or unlisted and exclude foreign companies, other bodies corporate, guarantee companies and Section 8 companies.
2) Number of directorships of the Directors are within the permissible limits as prescribed under Section 165 of the Act and Regulation 17A of SEBI Listing Regulations.
3) Necessary disclosures regarding change in Committee positions, if any, have been made by all the Directors, during the year under review. None of the Director is a member of more than ten Committees or Chairman/ Chairperson of more than five Committees across all Indian Public limited companies. For this purpose, only Audit Committee and Stakeholders’ Relationship Committee has been considered as required under Regulation 26 of the SEBI Listing Regulations.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT (Contd.)

List of Directorship in other Listed Entities

List of Directorship in other Listed Entities
Name of the Director	Name of other Listed Entity	Category of directorship
Mr. Vasant Vitthaldas Gujarathi (DIN: 06863505)	S H Kelkar and Company Limited (CIN: L74999MH1955PLC009593)	Independent Director
Mr. Ajit Ravindra Joshi (DIN: 08108620)	None	Not Applicable
Mrs. Padma Samir Deosthali (DIN: 09250994)	None	Not Applicable
Mr. Ramashrya Ramjag Yadav (DIN: 00145051)	None	Not Applicable
Mr. Srirang Yashwant Athalye (DIN: 02546964)	None	Not Applicable
Mr. Onkar Sunil Shetye (DIN: 06372831)	None	Not Applicable

b. Attendance of the Directors at Board Meetings and Annual General Meeting (“AGM”)

During the year ended March 31, 2023, Four Board meetings were held May 26, 2022, July 28, 2022, October 18, 2022 and January 18, 2023 and the gap of between two meetings did not exceed one hundred and twenty days. The Board Meetings are prescheduled, and adequate notice is given to the Board members. The necessary quorum was present for all the meetings.

Board Meetings are generally held at the registered office of the Company either through video conference or through physical presence.

Attendance of the Directors at Board meetings held during the 2022-23 and AGM held on September 29, 2022, are given below.

given below.
Name of the Director	Attendance at
	Board meeting	Last AGm
Mr. Vasant Vitthaldas Gujarathi (DIN: 06863505)	4/4	Present
Mr. Ajit Ravindra Joshi (DIN: 08108620)	4/4	Present
Mrs. Padma Samir Deosthali (DIN: 09250994)	2/4	Absent
Mr. Ramashrya Ramjag Yadav (DIN: 00145051)	4/4	Absent
Mr. Srirang Yashwant Athalye (DIN: 02546964)	4/4	Present
Mr. Onkar Sunil Shetye (DIN: 06372831)	4/4	Present

c. Skills, Expertise and Competence of the Board of Directors

The Board comprises qualified and experienced members who possess required skills, expertise and competencies that allow them to make effective contributions to the Board and its Committees.

CORPORATE GOVERNANCE REPORT (Contd.)

The following skills/expertise/competencies have been identified for the effective functioning of the Company and are currently available with the Board:

Information Technology
Financial Acumen
Strategic Management
Mergers and Acquisitions
Market Understanding
Board Governance

All the Board members possess the skills and core expertise.

Considering size and nature of business of the Company and its material subsidiary, the Directors possess one or more skills, expertise and competencies as mentioned below.

Skill/ Expertise/ Competencies	description	Name of the Director
Information Technology	Signifcant experience and knowledge in technology industry to identify opportunities & threats for the Company’s core business and ability to review the competitive business strategies.	 Mr. Onkar Shetye
Financial Acumen	Ability to evaluate and analyze the Company’s fnancial performance, experience in fnancial management and fnancial reporting processes.	 Mr. Vasant Gujarathi  Mr. Srirang Athalye  Mr. Ramashrya Yadav
Mergers and Acquisitions	Ability to evaluate potential target in line with the Company’s strategy, appropriate valuation of transaction and operational integration structure with the Company’s culture.	 Mr. Srirang Athalye  Mr. Ramashrya Yadav  Mr. Ajit Joshi
Strategic Management	Ability to think strategically, identify and access strategic opportunities and threats.	 Mr. Srirang Athalye  Mr. Ramashrya Yadav
Market Understanding	Understanding of Real estate market trends and dynamics	 Onkar Shetye  Srirang Athalye
Board Governance	Ability to contribute to the Board’s role towards setting & upholding the highest standards of governance & ethics, integrity and protection of shareholders’ interests.	 Mr. Vasant Gujarathi  Mr. Ramashrya Yadav  Mr. Srirang Athalye  Dr. Padma Deosthali

d. Familiarization Programme for Independent Directors

In order to familiarize the Independent Directors with the business of the Company, an appropriate induction programme for new Directors and ongoing familiarization programme for the Independent Directors is conducted by the Company. The details of the said familiarization programme are available on the Company’s website at the web link https://www.aurumproptech.in/investor/policies . Further, regular updates are provided to the Board by the Company’s Senior Management in areas of operations, industry trends, regulatory compliances, competition, strategy and future outlook.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT (Contd.)

At the time of appointment/ re-appointment, a formal letter of appointment/re-appointment is issued to every Director, including an Independent Director. The appointment letter, inter alia, explains role, functions, duties and responsibilities as a Director of the Company under various provisions of the Act and the SEBI Listing Regulations. Format of the letter of appointment is available on the Company’s website at weblink https://www.aurumproptech.in/ investor/policies .

The aforesaid programs help the Directors to understand the Company, its business and the regulatory framework in which the Company operates and equip them to effectively fulfil their role as a Director of the Company.

e. Meeting of Independent Directors

The Independent Directors of the Company met once in year, without the attendance of the Executive and Non-Executive Directors and members of the Management of the Company. In the said meeting, the Independent Directors reviewed the matters as stated in the SEBI Listing Regulations and as per the Act. Action items, if any, are communicated and tracked to closure, to the satisfaction of Independent Directors.

f. Declaration from Independent Directors

The Independent Directors have furnished declarations that they meet the criteria of independence as laid down under Section 149(6) of the Act and Regulation 16(1) (b) of the SEBI Listing Regulations. In terms of Regulation 25(8) of SEBI Listing Regulations, they have confirmed that they are not aware of any circumstance or situation which exists or may be reasonably anticipated that could impair or impact their ability to discharge their duties. The maximum tenure of Independent Directors is in compliance with the Companies Act, 2013 (“the Act”) and the Listing Regulations. The Independent Directors have also confirmed that they have registered themselves in the databank of persons offering to become Independent Directors.

Every Independent Director, at the first meeting of the Board in which he participates as a Director and thereafter at the first meeting of the Board in every financial year, gives a declaration that he

meets the criteria of independence and submits the declaration regarding the status of holding other directorship and membership as provided under law.

Based on the intimations/disclosures received from the Directors periodically, none of the Director is a Director in more than 10 public limited companies (as specified in section 165 of the Act) and Director in more than 7 listed entities (as specified in Regulation 17A of the Listing Regulations, 2015) or acts as an Independent Director (including any alternate directorships) in more than 7 listed companies or 3 equity listed companies in case he/she serves as a Whole-time Director/Managing Director in any listed company (as specified in Regulation 17A of the Listing Regulations, 2015). Further, none of the Directors on the Board is a Member of more than 10 Committees and Chairperson of more than 5 Committees (as specified in Regulation 26 of the Listing Regulations, 2015), across all the Indian public limited companies in which he/she is a Director.

g. Confirmation from the Board

The Board of Directors be and hereby confirm that in the opinion of the Board, the Independent Directors fulfil the conditions specified by the Listing Regulations, 2015 and they are independent of the management.

h. Board Procedures

The calendar of Board meetings is decided in consultation with Board members and the schedule of such meeting is communicated to all the Directors well in advance. The Board meets at least once in each quarter, with not more than four months gap between two meetings. Additional meetings are held based on necessity. The Board meets inter alia to review the performance and the financial results of the Company. All the items on the Agenda are accompanied by detailed notes giving information on the related agenda item and in case of certain matters such as financial/ business plans, financial results etc. detailed presentations are made by the concerned Management representatives at the meetings. The Agenda papers are circulated well in advance before each meeting to all the Directors. The Board members in consultation with the Chairman may bring up other matters for discussion at the Board meetings.

CORPORATE GOVERNANCE REPORT (Contd.)

All the requisite information as mentioned in Regulation 17(7) read with Part A of Schedule II to the SEBI Listing Regulations is regularly placed before the Board for its consideration.

To enable the Board to discharge its responsibilities properly, the directors are effectively briefed at every Board meeting. Senior Management members are also invited to attend the meetings to provide additional inputs on the items being discussed by the Board. All major matters involving policy formulation, strategy and business plans etc. are considered by the Board.

The minutes of the Board/committee meetings are circulated to all Directors. The minutes of meetings of the Audit Committee and other Committees of the Board are noted on regular basis by the Board at its meetings.

i. Disclosure of relationship between Directors inter-

se

None of the Directors are related to any other Director of the Company.

j. Conflict of Interests

Each Director informs the Company on an annual basis about the Board and the Committee positions he occupies in other companies including Chairmanships and notifies changes during the year. The Members of the Board while discharging their duties, avoid conflict of interest in the decisionmaking process. The Members of the Board restrict themselves from any discussions and voting in transactions in which they have concern or interest.

B. COmmITTEEs OF ThE BOARd

The Board has constituted the following committees and laid out terms of reference for each committee.
(i) Audit Committee
(ii) Nomination and Remuneration Committee
(iii) Investors’ Grievances and Stakeholders’ Relationship Committee
(iv) Corporate Social Responsibility Committee
(v) Executive Investment Committee
Ms. Khushbu Rakhecha, ceased to be Compliance Officer w.e.f. February 17, 2023 and Mrs. Sonia Jain

Company Secretary was appointed as Compliance officer w.e.f. February 17, 2023. Mrs. Sonia Jain acted as secretary to all the committees constituted by the Board.

(i) Audit Committee

The powers, role and terms of reference of the Audit Committee covers the areas as contemplated under Regulation 18 of the SEBI Listing Regulations and Section 177 of the Act, as applicable along with other terms as referred by the Board of Directors.

Extract of Terms of Reference:

(a) Oversight of the Company’s financial reporting process and disclosure of its financial information to ensure that the financial statements are correct, sufficient and credible;
(b) Recommendation for appointment, remuneration and terms of appointment of auditors;
(c) Approval of payment to statutory auditors for any other services rendered by the Statutory Auditors;
(d) Review, with the management, of the annual financial statements and Auditor’s report thereon before submission to the Board for approval, with particular reference to following:
Matters required to be included in the Director’s Responsibility Statement to be included in the Board’s Report in terms of Section 134(3)(c) of the Companies Act, 2013;
Any changes in accounting policies & practices and reasons for the same;
Major accounting entries involving estimates based on the exercise of judgment by the management;
Significant adjustments made in the financial statements arising out of audit findings;
Compliance with listing and other legal requirements relating to financial statements;

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT (Contd.)

Disclosure of any related party transactions;
Modified opinion(s), if any, in the draft audit report
(e) Reviewing, with the management, the quarterly financial statements before submission to the board for approval;
(f) Review with the management, the statement of uses / application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilized for purposes other than those stated in the offer document / prospectus / notice and the report submitted by the monitoring agency monitoring the utilization of proceeds of a public issue or rights issue or preferential issue or qualified institutions placement, and making appropriate recommendations to the board to take up steps in this matter;
(g) Review and monitoring of the auditor’s independence & performance and effectiveness of audit process;
(h) Approval or any subsequent modification of related party transactions of the Company;
(i) One-on-one Meeting with Statutory and Internal Auditors, the recommendation for the appointment of Statutory, Internal and Cost Auditors and their remuneration.
(j) Scrutiny of inter-corporate loans and investments;
(k) Valuation of undertakings or assets of the Company, wherever it is necessary;
(l) Evaluation of Internal Financial Controls and Risk Management Systems/ Policies;
(m) Review, with the management, of performance of Statutory and Internal Auditors, adequacy of the internal control systems;
(n) Review the adequacy of internal audit function, reporting structure coverage and frequency of internal audit department, staffing and seniority of the official heading the department, reporting structure coverage and frequency of internal audit;
(o) Discussion with internal auditors of any significant findings and follow-up thereon;
(p) Review 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 report the matter to the Board;
(q) Discussion with statutory auditors before the audit commences, about the nature and scope of audit and have post-audit discussion to ascertain any area of concern;
(r) Looking into the reasons for substantial defaults in payment to depositors, debenture holders, shareholders (in the case of nonpayment of declared dividends) and creditors, as may be applicable;
(s) Review of Internal Audit Reports and significant related party transactions.
(t) Review the functioning of the Whistle-Blower Mechanism;
(u) Approval of appointment of Chief Financial Officer of the Company, after assessing qualifications, experience, background, etc. of the candidate;
(v) Review the utilization of loans and/ or advances from/investment by the holding company in the subsidiary exceeding ` 100 Crore or 10% of the asset size of the subsidiary, whichever is lower including existing loans / advances / investments existing as on the date of coming into force of this provision.;
(w) consider and comment on rationale, costbenefits and impact of schemes involving merger, demerger, amalgamation etc., on the listed entity and its shareholders and
(x) To carry out any other functions as may be assigned by the Board of Directors of the Company.
The minutes of the Audit Committee are also circulated to the Board of Directors. The Chairman of the Audit Committee apprises the Board on the recommendations made by the committee. At the

CORPORATE GOVERNANCE REPORT (Contd.)

beginning of the FY, the Committee reviews the areas to be covered by the internal audit and approves annual internal audit programme for the current year. The Committee reviews the performance of the internal auditor and statutory auditor and advises the Board on the appointment/re-appointment of internal and statutory auditor. During the year under review, the Board accepted all the recommendations made by the Audit Committee.

The Statutory Auditors of the Company are invited to attend and participate at the meetings of the Audit Committee.

Details of composition, meetings held and attendance during 2022-23

The Committee met four times on May 26, 2022, July 28, 2022, October 18, 2022 and January 18, 2023.

Name of the member	Category	Number of meetings attended
Mr. Vasant Gujarathi (Chairman)	Independent Director	3/3
Mr. Ajit Joshi	Independent Director	3/3
Mr. Srirang Athalye	Non- Executive Director	3/3

(ii) Nomination and Remuneration Committee

The Nomination and Remuneration Committee of the Company is constituted in line with the provisions of Regulation 19 of the SEBI Listing Regulations, 2015 read with Section 178 of the Act.

Terms of Reference

(a) To formulate criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy relating to the remuneration of the directors, key managerial personnel and other employees;
(b) For every appointment of an independent director, the Committee shall evaluate the balance of skills, knowledge and experience on the Board and on the basis of such evaluation, prepare a description of the role and capabilities required of an independent director. The person recommended to the Board for appointment

as an independent director shall have the capabilities identified in such description.

For the purpose of identifying suitable candidates, the Committee may:

a. use the services of an external agencies, if required;
b. consider candidates from a wide range of backgrounds, having due regard to diversity; and
c. consider the time commitments of the candidates.
(c) To formulate criteria for evaluation of performance of Independent Directors and the Board of Directors;
(d) To devise a policy on diversity of the Board of Directors;
(e) To identify persons who are qualified to become Director or who may be appointed in senior management of the Company in accordance with the criteria laid down and recommend to the Board their appointment and removal;
(f) To ascertain whether to extend or continue the term of appointment of the Independent Director, on basis of performance evaluation report of Independent Directors;
(g) Recommend to the board, the remuneration of the Directors, Key Managerial Personnel and other employees and in whatever form payable to senior management.
(h) To decide, formulate and amend detailed terms and conditions of the Employees Stock Option Plan, governed by the guidelines issued by SEBI (Share Based Employee Benefit) Regulation, 2014 and as amended from time to time.
(i) Undertake any other matters as the Board may decide from time to time.

Details of composition, meetings held and attendance during 2022-23

The Nomination and Remuneration Committee met twice on May 26, 2022 and January 18, 2023.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT (Contd.)

Name of the member	Category	Number of meetings attended
Mr. Ajit Joshi (Chairman)	Independent Director	2/2
Mr. Vasant Gujarathi	Independent Director	2/2
Mr. Srirang Athalye	Non- Executive Director	2/2

During the year, performance evaluation exercise of the Board as a whole, Board Committees and Peer Evaluation of the Directors were carried out by following internal methodology, details of which are provided in the Board of Directors’ Report.

Criteria of Performance Evaluation of Independent Directors

i. Independent Directors are expected to bring in objectivity and independent view during the Board’s deliberations relating to the Company’s strategy, performance and risk management and ensure the highest standards of financial probity and corporate governance.
ii. Independent Directors are also expected to commit and allocate sufficient time to meet the expectations of their role, to the satisfaction of the Board.
iii. Conflict of Interest: The Independent Directors shall not involve themselves in situations which directly or indirectly may conflict with the interests of the Company. It is accepted and acknowledged that they may have business interests, other than those of the Company. As a precondition to their appointment as Independent Directors, they are required to declare their directorships and interest to the Board, in writing in the prescribed format, at the time of their appointment.

(iii) Investors’ Grievances and Stakeholders’ Relationship Committee

The Investors’ Grievances and Stakeholders Relationship Committee of the Company is constituted in line with the provisions of Regulation 20 of the SEBI Listing Regulations, 2015 read with Section 178 of the Act.

The Investors’ Grievances and Stakeholders Relationship Committee is responsible for the satisfactory redressal of investor complaints and recommends measures for overall improvement in the quality of investor services.

Terms of Reference

a) Review and resolve the grievances of the security holders of the Company including complaints related to transfer/transmission of shares, non-receipt of annual report, nonreceipt of declared dividends, issue of new/ duplicate certificates, general meetings etc.
b) Review measures taken for effective exercise of voting rights by shareholders.
c) Review the adherence to the service standards adopted by the listed entity in respect of various services being rendered by the Registrar & Share Transfer Agent.
d) Review the various measures and initiatives taken by the listed entity for reducing the quantum of unclaimed dividends and ensuring timely payment of dividend/dispatch of annual reports/statutory notices to the shareholders of the Company.

Details of composition, meetings held and attendance during 2022-23.

The Investors’ Grievances and Stakeholders Relationship Committee met once on May 26, 2022.

Name of the member¬	Category	Number of meetings attended
Mr. Ramashrya Yadav(Chairman)	Non-Executive Director	1/1
Mr. Ajit Joshi	Non-Executive Independent Director	1/1
Mr. Onkar Shetye	Executive Director	1/1

Ms. Sonia Jain, Company Secretary was appointed as a Compliance Officer w.e.f. February 17, 2023.

Your Company has designated e-mail ID, investors @aurumproptech.in for the redressal of any shareholders’ related grievances exclusively for the purpose of registering service requests by members/

CORPORATE GOVERNANCE REPORT (Contd.)

stakeholders. Your Company has also displayed the said e-mail ID under the Investors section on the website at weblink https://www.aurumproptech. in/investor/investor-faqs and other relevant details prominently for investors/ shareholders’ awareness.

Nature of Complaints and Redressal Status:

Investor Complaint	No. of complaints including through sEBI sCOREs platform
Complaints pending at the beginningof the 2022-23	0
Number of Complaints received duringthe 2022-23	7
Number of Complaints redressed duringthe 2022-23	7
Complaints pending at the end of the 2022-23	0

All requests were resolved to the satisfaction of shareholders.

(iv) Corporate Social Responsibility Committee (CSR Committee)

The Board has constituted the CSR Committee as per the requirement of the Companies Act, 2013 along with applicable rules.

Terms of Reference

a) Formulation and recommendation to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the Company as specified in Schedule VII of the Companies Act, 2013.
b) To identify the areas of CSR activities and recommend the amount of expenditure to be incurred on such activities.
c) To coordinate with such other agency for implementing programs and executing initiatives as per CSR policy and shall review the performance of such other agency periodically.
d) To report regularly to the Board.

Details of composition, meetings held and attendance during 2022-23

The Committee met once on May 26, 2022.

Name of the member	Category	Number of meetings attended
Mr. Srirang Athalye (Chairman)	Non- Executive Director	1/1
Mr. Ramashrya Yadav	Non-Executive Director	1/1
Mr. Vasant Gujarathi	Independent Director	1/1
Mrs. Padma Deosthali	Independent Director	0/1

(V) Executive Investment Committee

The Executive Investment Committee is formed pursuant to provisions of section 179 of Companies Act, 2013. The Committee reports and note the matters approved/ transacted, on quarterly basis or subsequent board meeting whichever is earlier.

Terms of Reference

To approve the opening / operation / closing of bank accounts and authorization to persons to operate the same.
To approve revisions to authorized signatories of the Company;
To approve the issuance of letters of authority / powers of attorney on behalf of the Company;
To take decisions on other administrative matters;
To delegate any one or more of its powers as the Executive Investment Committee may deem fit;
To decide on and finalize the terms of availing assistance, including finalization of the number and quantum of tranches, the manner of availing said assistance (whether in the form of loans, inter-corporate deposits, issuance of debt securities, whether listed or not, such as debentures or commercial papers or bonds or any other securities / instruments or availing corporate guarantees), rate of interest, tenure, offer and creation of security over

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT (Contd.)

any property/assets of the Company whether movable or immovable, tangible or intangible and intellectual properties;

To decide on and finalize the terms of granting financial assistance to wholly – owned subsidiaries of the Company, whether by way of infusion of capital, loans, guarantees and financial assistance of any other nature;
To take all decisions and perform all actions for the temporary deployment of sale proceeds of the sale of any of the Company’s investment in instruments / securities as approved by the Board;
To decide on and grant authorizations towards investment of surplus funds in fixed maturity plans and/or debt schemes of mutual funds in accordance with the Investment Policy of the Company;
To finalize and approve the appointment of arrangers, issuing and paying agent(s) (IPA), Banker(s), Registrar & Transfer Agent (RTA), Security Trustee(s), Debenture Trustee(s), Depositories to an issuance, rating agencies (as may be required) and any other agents or intermediaries as may be necessary;
To decide on and finalize / authorize the finalization and execution of promissory notes, facility agreements, deeds of hypothecation, indentures of mortgage, declarations, forms, undertakings and any other agreements, contracts, documents, undertakings and writings (including any amendments, modifications, substitutions, addendums and / or supplements thereto) in connection with any of the above;
To make / authorize the making of applications, reporting, filings and submissions with various authorities as may be required, including for the purpose of listing of instruments / securities that may be issued by the Company, on the stock exchanges;
To delegate any one or more of its powers to directors or officers of the Company or to any other person as the Committee may deem fit;
Execution of agreements as approved by the Board of Directors.
To evaluate the investments, to negotiate and sign non-binding term sheet or letter of intent or any other document and take the same for the approval of Board of Directors of the Company for final decision of investment and to sign the definitive agreements on behalf of the Board and to do all other acts in relation thereto.
To take all decisions and perform all actions for incorporation of LLP, associates, subsidiaries/ wholly owned subsidiaries, finalize its Name/ change of Name, Main and ancillary Objects, Authorized and Paid up Share Capital, place of registered office, First subscribers, directors of the entities to apply for opening of Bank Accounts, GST and to sign and execute on behalf of the Company, all agreements, undertakings and any other documents that may be necessary.
The Executive Investment Committee was constituted on October 30, 2021 and consists of five
(5) members:
a. Mr. Ajit Joshi, Chairman
b. Mr. Ramashrya Yadav, Member.
c. Mr. Onkar Shetye, Member
d. Mr. Srirang Athalye, Member
e. Mr. Kunal Karan, Member

4. COmmITTEE mINuTEs

Minutes of all the Committees of the Board are prepared by the Secretary of the Committee, approved by the Chairman of the Meeting, entered in their respective Minutes Book within stipulate time frame, circulated to the Board in the Agenda for the succeeding meeting, adopted and taken on record.

CORPORATE GOVERNANCE REPORT (Contd.)

C. sENIOR mANAGEmENT:

Particulars of senior management including the changes therein since the close of the previous financial year:

sr no.	Name	designation	Function	Date of appointment	Date of cessation
1	Kunal Karan	Chief Financial Offcer	Finance	October 12,2009	-
2	Sonia Jain	CompanySecretary	Legal and Compliance	June 01,2022
3	Sonia Jain	Compliance Offcer		February17,2023
4	Sachin Gharat	Program Manager	Technology	May25,2021	-
5	Hirenkumar Ladva	EVP-Investment	Investment Management	April 04, 2022	-
6	Ashish Shirsat	Chief Digital Transformation Offcer	IT Infrastructure	June 01, 2021	April 21, 2023
7	Khushbu Rakhecha	Senior Legal Executive & Compliance Offcer	Legal and Compliance	July 01, 2021	February 17, 2023
8	Himanshu Thosar	Chief Digital Transformation Offcer	IT Infrastructure	April 17, 2023	-

d. REmuNERATION PAId TO dIRECTORs duRING ThE Fy ENdEd mARCh 31, 2023

i. During the year, there was no pecuniary relationship or transaction between the Company and any of its NonExecutive Director/ Independent Directors apart from sitting fees for attending meetings of the Board and Committees.

ii. Criteria for making payment to Non-Executive / Independent Directors

All the Non-Executive/ Independent Directors are Independent of management and free from any business or other relationship that could materially influence their judgment. All the independent directors satisfy the criteria of independence as defined under Regulation 16 (1) (b) of SEBI Listing Regulations.

The criteria for making payment to Non-Executive/ Independent Directors is available on the website of the Company at the web link https://www.aurumproptech.in/investor/policies

Non-Executive/ Independent Directors were only paid sitting fees for attending Board and Board Committee meetings for the 2022-23. None of the Non-Executive Independent Directors held any shares in the Company.

The sitting fees [Remuneration] paid to the Non-Executive/Independent Directors during the 2022-23 are as below:

sr. No.	Name	Category	Sitting Fees (in Lakhs)	Stock Options (EsOP)
1	Vasant Gujarathi	Independent Director	6.00	Nil
2	Ajit Joshi	Independent Director	6.00	Nil
3	Padma Deosthali	Independent Director	1.50	Nil
4	Ramashrya Yadav	Non-Executive Director	3.00	2,85,000 options
5	Srirang Athalye	Non-Executive Director	6.00	2,85,000 options

iii. Remuneration paid to Executive Directors

The appointment and remuneration of all the Executive Director of the Company is governed by the recommendation of the Nomination and Remuneration Committee, Resolutions passed by the Board of Directors and Shareholders of the Company.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT (Contd.)

The remuneration package of all the Executive Directors comprises of salary, perquisites allowances and Performance linked incentives and other Retirement Benefit Funds as approved by the shareholders at the General Meetings. Annual increments are linked to performance and are decided by the Nomination and Remuneration Committee and recommended to the Board for approval thereof.

The remuneration policy is directed towards rewarding performance, based on review of achievements. It is aimed at attracting and retaining high-caliber talent. The Nomination and Remuneration Policy is displayed on the Company’s website at the web link https://aurumproptech.in/investor/policies/

The remuneration paid to the Executive Director during the 2022-23 is as below:

Name of director and designation	Salary	Commission	Gratuity	Bonuses	Pension	Performance linked incentives	Performance criteria	Notice Period/ service contracts	Stock Options (EsOP)
Onkar Shetye (Executive Director)	`45,98,532\|-\|As per<br>Rules<br>of the<br>Company\|-\|0.00\|`8,94,240	Performance criteria is based on the performance of the Directors and as may decided by the Board from time to time.	Three months	2,85,000 options

E. GOVERNANCE TO shAREhOLdERs

1. AGM held during last three years

AGM held	during last three years
Fy	Details of date, day, time and venue of AGM	Summary of Special Resolution(s) passed
2021-22	date:September 29, 2022 Day:Thursday, Time: 02:00 P.M. Venue:Through Video Conferencing (“VC”)/ Other Audio Visual Means (“OAVM”)	i. Increase in limits for raising of funds by way of issue of securities including but not limited to Equity Shares and/or any other securities convertible into or exchangeable with Equity Shares and/ or Non-Convertible Debentures with or without warrants through Rights Issue/ Further Public Offer/ Qualifed Institutions Placement (QIP) / Preferential Issue or through any other permissible mode or a combination thereof, as may be permitted under applicable laws, subject to the approval of the members of the Company, if required and other appropriate approvals, the existing limit from `6,00,00,00,000/- (Rupees Six Hundred Crores Only) to<br>`10,00,00,00,000 (Rupees One Thousand Crores Only). ii. Increasing the limits applicable for making investments from `3,00,00,00,000/- (Rupees Three Hundred Crores Only) to<br>`600,00,00,000/- (Rupees Six Hundred Crores Only) and for extending loans and giving guarantees or providing securities in connection with loans to any Person or other Body Corporate from`3,00,00,00,000/- (Rupees Three Hundred Crores Only)<br>to`600,00,00,000/-(Rupees Six Hundred Crores Only).

CORPORATE GOVERNANCE REPORT (Contd.)

Fy	Details of date, day, time and venue of AGM	Summary of Special Resolution(s) passed
		iii. Approve the borrowing limits in excess of the Paidup Share Capital, Free Reserves and Securities Premium of the Company pursuant to 180 (1) (c) of the Companies Act, 2013. iv. Approve the creation of charges on the assets of the Company under Section 180(1)(a) of the Companies Act, 2013 to secure the borrowings made/to be made under section 180(1)(c) of the Companies Act, 2013. v. Approve the Issuance of ESOP to the employees of the Subsidiary/ies of the Company. vi. Approve the change in objects of rights issueproceeds.
2020-21	date:September 06, 2021 Day:Thursday, Time: 10:00 A.M. Venue:Through Video Conferencing (“VC”)/ Other Audio Visual Means (“OAVM”)	i. Approve Employee Stock Option Scheme of the Company. ii. Raising of funds by way of issue of securities including but not limited to Equity Shares and /or any other securities convertible into or exchangeable with Equity Shares and / or Non-Convertible Debentures with or without warrants through Rights Issue / Further Public Offer/ Qualifed Institutions Placement (QIP) / Preferential Issue or through any other permissible mode or a combination thereof, as may be permitted under applicable laws, subject to approval of the members of the Company, if required and other appropriate approvals for a limit not exceeding to`600 Crores (Rupees<br>Six Hundred Crores Only).<br>iii.<br>Increasing the limits applicable for making investments /<br>extending loans and giving guarantees or providing securities<br>in connection with loans to any Person or other Body<br>Corporate to limit not exceed`300 Crores (Rupees Three Hundred Crores Only) iv. Change of Name of the Company. v. Alteration of Objects Clause of the Memorandum of Association of the Company.
2019-20	date:September 24, 2020 Day:Thursday, Time: 10:00 A.M. Venue:Through Video Conferencing (“VC”)/ Other Audio Visual Means (“OAVM”)	-

Whether Special resolutions were put through Postal Ballot last year? No
Are Special resolutions proposed to be put through Postal Ballot this Year? No
During the year under review, no Extraordinary General Meeting of the members of the Company was convened.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT (Contd.)

F. COmmuNICATION wITh ThE shAREhOLdERs

a) Financial Results

The quarterly Financial Results of the Company are published in accordance with the requirements of the SEBI Listing Regulations.

b) Newspapers wherein results are normally

published

The Board of Directors of the Company approves the quarterly, half yearly and annual financial results in the format prescribed under Regulation 33 of the SEBI Listing Regulations. The approved financial results are submitted to the Stock Exchanges within the prescribed time. The financial results and other

statutory notices are published in newspapers Financial Express (English) and Mumbai Lakshadeep (Marathi).

c) Any website, where displayed

The Company’s website has a separate section where the shareholders’ information is available. The financial results are also displayed on the Company’s website at https://aurumproptech.in/investor/ financial-information/quarterly-earnings/. Annual Reports of the Company are also available on the website in a user-friendly and downloadable form. Other information relating to quarterly shareholding pattern, quarterly corporate governance report are available on the Company’s website at the web link https://aurumproptech.in/investor/cg-report/.

d) Whether it also displays official news releases

Official news releases are displayed on the Company’s website: https://aurumproptech.in/ investor/news-press-releases/.

e) Earning conference calls and presentations to Institutional Investors / Analysts

During the 2022-23, audio recordings and transcript of the meetings available on the Company’s website at the web link https://aurumproptech.in/investor/ financial-information/quarterly-earnings/. No unpublished price sensitive information is discussed in the meetings with institutional investors and financial analysts.

f) Annual Report

Annual Report containing, inter alia, Audited Annual Accounts, Consolidated Financial Statements Director’s Report, Auditor’s Report and other important information is circulated to members and others entitled thereto. The Management Discussion and Analysis Reports forms part of the Annual Reports and is displayed on the Company’s website at the web link https://aurumproptech.in/investor/ financial-information/annual-reports/.

SEBI Complaints Redress System (SCORES)

g)

The investor complaints are processed in a centralised web-based complaints redress system. The salient features of this system are: Centralised database of all complaints, online upload of Action Taken Reports (ATRs) by concerned companies and online viewing by investors of actions taken on the complaint and its current status.

G. GENERAL shAREhOLdERs’ INFORmATION

Tenth AGm

a.

Tenth AGM of the Company for the 2022-23 is scheduled to be held on Thursday, September 28, 2023 at 2:00 P. M. through Video Conferencing (VC)/ Other Audio Visual Means (OAVM) mode.

b.

Financial year (Fy)

The Company follows April-March as the FY.

Tentative Calendar for FY ending March 31, 2024

The tentative dates of meeting of the Board of Directors for consideration of quarterly/annual financial results are as follows.

For the quarter ending	Tentative Date of Announcement of fnancial results (subject to change)
June 30, 2023	July18, 2023
September 30, 2023	On or before November 14, 2023
December 31, 2023	On or before February 14, 2024
March 31, 2024	On or before May 30, 2024

CORPORATE GOVERNANCE REPORT (Contd.)

Book Closure Dates

From September 22, 2023 to September 28, 2023 ( (both days inclusive)

dividend

c.

During the year No Dividend was declared by the Company.

d. Listing on Stock Exchanges

Equity Shares:

1. Name: BsE Limited

Address: Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

Stock Code: 539289

2. Name: National Stock Exchange of India Limited

Address: Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051.

Stock Code: AURUM

Listing Fees payment:

e.

The Company has paid listing fees to the Stock Exchanges for the 2023-24.

f. Payment of Depository Fees

Annual Custody / Issuer fee is being paid by the Company within the due date based on invoices received from the Depositories.

g. Market Price Data during FY ended March 31, 2023

Monthly high and low price of equity shares of the Company on NSE and BSE.

month and year	BsE Limited	BsE Limited	BsE Limited	National Stock Exchange of India Limited	National Stock Exchange of India Limited	National Stock Exchange of India Limited
	high (`)\|Low<br>(`)	Volume (Total traded quantity)	high (`)\|Low (`)	Volume (Total traded quantity)
April 2022	128.85	88.04	6,72,710	128.95	87.03	37,40,000
May 2022	102.45	83.55	2,29,780	104.65	83.05	11,50,000
June 2022	95.00	76.90	1,18,540	95.65	76.50	5,94,040
July 2022	112.95	75.05	7,45,740	113.15	74.05	25,80,000
August 2022	136.05	105.80	8,31,180	135.70	106.00	28,10,000
September 2022	152.40	123.00	7,09,760	152.80	122.10	25,30,000
October 2022	134.90	119.00	1,21,180	134.25	117.80	6,27,240
November 2022	143.15	112.25	1,43,180	143.45	110.55	9,93,860
December 2022	135.95	109.70	1,79,030	136.00	107.35	9,04,600
January 2023	126.55	114.25	1,09,850	126.80	113.65	5,59,580
February 2023	130.80	104.60	2,82,410	130.45	104.60	14,30,000
March 2023	121.00	100.00	1,56,490	121.00	99.85	12,10,000

Annual General meeting for the Year ending March

31, 2024: On or before September 30, 2024.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review Governance

Financial Statements

CORPORATE GOVERNANCE REPORT (Contd.)

Aurum PropTech Share Price Performance Versus NSE’s S&P CNX 500

Relative Price Performance Aurum PropTech Limited v/s S&P BSE SENSEX High

==> picture [497 x 515] intentionally omitted <==

----- Start of picture text -----

180 66,000
160 64,000
140
62,000
120
100 60,000
80 58,000
60
56,000
40
54,000
20
0 52,000
S&P BSE SENSEX High Aurum PropTech Limited
Relative Price Performance Aurum PropTech
Limited v/s CNX Nifty
180 19,500
160 19,000
140
18,500
120
18,000
100
17,500
80
17,000
60
40 16,500
20 16,000
0 15,500
CNX Nifty Aurum PropTech Limited
May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23
May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23
Apr-22
Apr-22
----- End of picture text -----

CORPORATE GOVERNANCE REPORT (Contd.)

h. Registrar & Share Transfer Agent (RTA) and Contact details

Kfin Technologies Limited

Telephone: +91 40 6716 1633 Selenium Tower B, Plot 31-32, Toll Free no.: 1800-345-4001 Financial District, Nanakramguda, Fax: +91 40 2342 0814 Hyderabad – 500 032, India E-mail: [email protected] Website: www.kfintech.com

i. Share Transfer System

The SEBI, effective from April 01, 2019, has barred physical transfer (except cases of transmission or transposition) of shares of listed companies and mandated transfer of securities only in the dematerialized form. However, investors are not barred from holding shares in physical form.

Transfer of equity shares in electronic form are effected through the depositories with no involvement of the Company.

We request shareholders whose shares are in the physical mode to dematerialize their shares and update their bank accounts and email IDs with the respective depository participants to enable us to provide better service.

Share transfer and related operations for the Company, is conducted by M/s Kfin Technologies Limited Share transfer is normally affected within maximum period of 30 days from the date of receipt, subject to the documents being valid and complete in all respects.

j. Distribution of Shareholding as on March 31, 2023

Distribution of Shareholding as on March 31, 2023	Distribution of Shareholding as on March 31, 2023	Distribution of Shareholding as on March 31, 2023	Distribution of Shareholding as on March 31, 2023	Distribution of Shareholding as on March 31, 2023	Distribution of Shareholding as on March 31, 2023
AuRum PROPTECh LImITEd
Distribution of Shareholding as on March 31, 2023 (TOTAL)
sl no	Category (Shares)	No. of Holders	% To holders	No. of Shares	% To Equity
1	1 - 500	83,916	93.28	57,00,029	7.96
2	501 - 1000	3,012	3.35	22,98,670	3.21
3	1001 - 5000	2,446	2.72	50,79,879	7.10
4	5001 - 10000	297	0.33	21,73,600	3.04
5	10001 - 99999999	293	0.33	5,63,22,044	78.69
	TOTAL:	89,964	100.00	7,15,74,222	100.00

k. Dematerialization of Shares

As on March 31, 2023, 99.78% of our shares were held in dematerialized form and the rest in physical form. Shares held in demat and physical mode (folio-based) are as follows:

date	Status of shares - Physical versus Demat Mode	Status of shares - Physical versus Demat Mode	Status of shares - Physical versus Demat Mode	Status of shares - Physical versus Demat Mode	Status of shares - Physical versus Demat Mode
	Physical	%	demat	%	Total
March 31, 2023	1,53,559	0.55	7,14,20,663	99.78	7,15,74,222
March 31, 2022	1,57,561	0.55	2,84,72,128	99.45	2,86,29,689

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT (Contd.)

l. Summary of Shareholding Pattern as on March 31, 2023

sr. No.	description	As on march 31, 2023	As on march 31, 2023
		No. of Shares	% Equity
I	Promoter shareholding
	Indian Promoters	3,60,32,859	50.34
	Non-Resident/ Foreign Promoters	-	-
	Total(I)	3,60,32,859	50.34
II	Institutional shareholding
	Mutual Funds	1,600	0.00
	Alternate Investment Fund	-	-
	Foreign Portfolio Investors & Foreign Institutional Investor	2,939	0.00
	Banks	415	0.00
	Total(II)	3,60,37,398	50.34
III	Public shareholding (excluding above categories)	3,55,36,824	64.23
	Grand Total(I+II+III)	7,15,74,222	100.00

m. Outstanding GDRs/ADRs/Warrants or any convertible instruments:

There are no outstanding GDRs/ ADRs/ Warrants except stock options granted to the employees of the Company and its subsidiaries. Outstanding stock options after vesting, when exercised, shall increase the paid-up equity share capital of the Company to that extent.

n. Commodity price risk or foreign exchange risk & hedging activity:

The Company is not exposed to foreign exchange risk and the Company does not have any exposure hedged through commodity derivatives.

The Company does not deal in commodities and hence the disclosure is not required to be given for commodity hedging activities.

o. Off-shore Development Centers:

The Company do not have any off-shore development centers.

p. Address for correspondence by shareholders/ investors:

Registrar & Share Transfer Agent

Company

Kfin Technologies Limited

mrs. sonia Jain

Company Secretary & Compliance Officer

(Unit: Aurum PropTech Limited)

Selenium Tower B, Plot 31-32, Financial District, Nanakramguda, Hyderabad – 500 032

Aurum Q1, Aurum Q Parc,

Thane Belapur Road, Navi Mumbai – 400 710, India Phone: +91 22 3000 1700 | https://aurumproptech.in/ E-mail ID: [email protected]

Ph. No. : (040) 6716 1633

Toll Free no.: 1800 345 4001

Fax No. : (040) 2342 0814 E-mail ID: [email protected] Website: www.kfintech.com

q. Credit Rating obtained during the Fy under review

The Company did not obtain any Credit Rating during the year.

CORPORATE GOVERNANCE REPORT (Contd.)

h. OThER dIsCLOsuREs

Disclosure of Related Party Transactions

The Company has formulated a policy on materiality of related party transactions and also on dealing related party transactions. This policy is available on the website of the Company at the web link https:// aurumproptech.in/investor/policies/. During the year 2022-23, no material significant related party transactions have been entered into by the Company with the Promoters, Directors or Management or their relatives. There were no materially significant transactions with related parties during the FY which were in conflict with the interest of the Company. Details of related party transactions are disclosed in the notes to the financial statements. All related party transactions were executed with prior approval/ratification of Audit Committee.

Details of non-Compliance by the Company, penalties, strictures imposed on the listed entity by the Stock Exchange(s) or SEBI or any statutory authority

The Company has complied with all requirements specified under the SEBI Listing Regulations as well as other Regulations and guidelines of SEBI. No penalties or strictures imposed on the listed entity by the Stock Exchange(s) or SEBI or any statutory authority, on any matter related to capital markets, during last three years.

Vigil Mechanism/ Whistle Blower Policy

The Company has in place the necessary vigil mechanism as envisaged under Section 177 of the Act and Regulation 22 of the SEBI Listing Regulations. During the year under review, no personnel has been denied access to the Audit Committee. The Whistle Blower Policy is posted on the website of the Company at the link https: https:// www.aurumproptech.in/investor/policies .

Details of compliance with mandatory requirements and adoption of non-mandatory requirement of SEBI Listing Regulations

The Company has disclosed and complied with all mandatory requirements under the SEBI Listing Regulations. The details of these compliances have been given in the relevant sections of this report.

Among non-mandatory requirements of the SEBI Listing Regulations, the Company has complied with the following:

The Board - Chairman’s Office and tenure of Independent directors: As on March 31, 2023, the Company does not have identified Chairman hence this clause is not applicable.

shareholders’ Rights: Quarterly/ half-yearly financial Results along with the press release and key highlights are made available on the website of the Company at the web link https://aurumproptech. in/investor/financial-information/quarterlyearnings/.

Unmodified Opinion in audit report: The Auditors of the Company have issued Audit Reports with unmodified opinion on the standalone and consolidated financial statements for the year ended March 31, 2023.
Reporting of Internal Auditor: The Internal Auditor reports directly to the Audit Committee, attends the Audit Committee meetings and interacts directly with the Audit Committee.

Policy for Determining Material Subsidiaries

In terms of Regulation 16 (1) (c) SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 The Company has a policy on Material Subsidiary and same is placed on the website of the Company at https://www. aurumproptech.in/investor/policies .

Policy on dealing with Related Party Transactions

The Policy on dealing with Related Party Transactions is available on the Company’s website at https://www.aurumproptech.in/investor/policies .

There was no suspension of trading in the Securities of the Company during the year under review.

Details of utilization of funds raised through preferential allotment or qualified institutional placement

During the year 2022-23, the Company has not raised any funds through preferential allotment or qualified institutional placement as specified under Regulation 32(7A) of the SEBI Listing Regulations.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

CORPORATE GOVERNANCE REPORT (Contd.)

Certificate from Company Secretary in Practice

Disclosure in relation to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

M/s. Ainesh Jethwa, Company Secretary in Practice, has issued a certificate as required under the SEBI Listing Regulations, confirming that none of the Directors on the Board of the Company has been debarred or disqualified from being appointed or continuing as director of companies by the SEBI/ Ministry of Corporate Affairs or any other statutory authority. The certificate is enclosed with this section as Annexure A .

Aurum PropTech Limited follows a strict zero tolerance towards sexual harassment at workplace and has adopted a Policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules thereunder, for prevention and redressal of complaints of sexual harassment at workplace.

Recommendations of Committees of the Board

There were no instances during the 2022-23, wherein the Board had not accepted recommendations made by any committee of the Board.

i. Number of complaints filed during the FY – Nil
ii. Number of complaints disposed of during the FY – Nil

Total fees for all services paid by the Company and its subsidiaries, on a consolidated basis, to the statutory auditor and all entities in the network firm/network entity of which the statutory auditor is a part.

iii. Number of complaints pending as on end of the FY – Nil

Disclosure by listed entity and its subsidiaries of ‘Loans and advances in the nature of loans to firms/ companies in which directors are interested

Total fees of ` 56.51 Lakhs for 2022-23, for all services, was paid by the Company, on a consolidated basis, to the statutory auditor.

The Company has not given any loans or advances to any firm / company in which its directors are interested. Loans granted to subsidiaries are given in Notes to the Standalone Financial Statement.

Details of material subsidiaries of the listed entity incorporated, including the date and place of incorporation and the name and date of appointment of the statutory auditors of such subsidiaries:

sr. No.	Name of the Material Subsidiary	Date & Place of Incorporation	Name of the Statutory Auditor	Date of appointment of Statutory Auditor
1	K2V2 Technologies Pvt Ltd	March 25, 2019 and Pune	M/s Kirtane and Pandit LLP	December 31, 2020
2	Helloworld Technologies India Pvt Ltd	March 06, 2019 and Bangalore	M/s M S K A and Associates	March 16, 2023

Disclosure of Non-Compliance with Corporate Governance Requirement

There is no Non-Compliance of any requirement of Corporate Governance Report of sub-para (2) to (10) of the Part C of Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

D&O Insurance for Directors

In line with the requirements of Regulation 24(10) of the SEBI Listing Regulations, the Company has taken Directors and Officers Insurance (D&O) for all its Directors and Members of the Senior Management for such quantum and for such risks as determined by the Board.

Compliances with Corporate Governance disclosure requirements as specified in the SEBI Listing Regulations

The Company complies with all mandatory requirements as per Regulations 17 to 27 and Regulation 46(2) of the SEBI Listing Regulations. There were no instances of non-compliance on any matter related to the capital markets.

CORPORATE GOVERNANCE REPORT (Contd.)

Disclosures of the Compliance with Corporate Governance requirements specified in Regulation 17 to 27 and clauses (b) to (i) of Sub-regulation (2) of Regulation 46 are as follows:

==> picture [479 x 261] intentionally omitted <==

----- Start of picture text -----

Regulation Particulars of Regulations Compliance Status (Yes/No)
17 Board of Directors Yes
17 A Maximum number of directorships Yes
18 Audit Committee Yes
19 Nomination and Remuneration Committee Yes
20 Stakeholders Relationship Committee Yes
21 Risk Management Committee Yes
22 Vigil mechanism Yes
23 Related Party Transactions Yes
24 Corporate Governance requirements with respect to subsidiary Yes
of listed entity
24A Secretarial Audit & Secretarial Compliance Report Yes
25 Obligations with respect to Independent Directors Yes
26 Obligation with respect to employees including Senior Yes
Management, Key Managerial Persons, Directors and Promoters
27 Other Corporate Governance requirements Yes
46 (2) (b) to (i) Website (Updation) Yes
----- End of picture text -----

Managing Director & Chief Financial Officer (CFO) Compliance Certificate

Pursuant to Regulation 17(8) of the SEBI Listing Regulations, Managing Director and CFO is required to issue Compliance Certificate certifying that the financial statements do not contain any untrue statement and these statements represent a true and fair view of the Company’s affairs. As the Company does not have a Managing Director this certificate is issued by Executive Director & Chief Financial Officer (CFO) of the Company.

The said certificate is annexed and forms part of the Annual Report as Annexure C .

AudITOR’s CERTIFICATE ON CORPORATE GOVERNANCE

The Company has obtained the certificate from the Secretarial auditors of the Company regarding compliance with the provisions relating to the Corporate Governance laid down the certificate annexed to the report on Corporate Governance Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the 202223 annexed as Annexure B, and will be sent to the stock exchanges along with this annual report to be filled by the Company.

TRANSFER OF UNPAID / UNCLAIMED AMOUNTS AND SHARES TO INVESTOR EDUCATION AND PROTECTION

FuNd

Pursuant to the provisions of Section 124(5) of the Companies Act, 2013 read with the rules framed thereunder, the dividend lying in the Unpaid Dividend Account which remains unpaid or unclaimed for a period of seven consecutive years along with underlying shares are transferred by the Company to Investor Education and Protection Fund (IEPF). During the year, the Company has not transferred any shares or in respect of which dividend had not been paid or claimed by the members for seven consecutive years or more.

The Company has uploaded on its website, the details of unpaid and unclaimed amounts lying with the Company as on March 31, 2023. The Company has also uploaded these details on the website of the IEPF Authority (www.iepf.gov.in).

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Governance Financial Statements

CORPORATE GOVERNANCE REPORT (Contd.)

The voting rights on the shares transferred to IEPF Authority shall remain frozen till the rightful owner claims the shares.

Details of date of declaration and due date for transfer to IEPF:

Financial year	declaration date	Last Date for claiming Unpaid Dividend
2017-18 (Interim Dividend)	August 03, 2017	August 03, 2024
2018-19 (Final Dividend)	August 06, 2019	August 06, 2026
2019-20 (Interim Dividend)	March 16, 2020	March 16, 2027
2020-21 Interim Dividend)	December 15, 2020	December 15, 2027

Disclosures with respect to demat suspense account/ unclaimed suspense account

Regulation 39(4) of the Listing Regulations read with Schedule VI provides for the manner of dealing with unclaimed shares. As per the provisions, the Company is required to dematerialize such shares which have been returned as undelivered by postal authorities and hold the same in Unclaimed Suspense Account with a Depository.

Disclosure pursuant to the unclaimed shares as on March 31, 2023 is given below:-

Particulars	Aggregate number of Shareholders	Outstanding shares
Aggregate number of shareholders and the outstanding shares in the Unclaimed Suspense Account at the beginning of the year i.e. April 01, 2022.	295	2,20,403
Number of Shareholders who approached the Company for transfer of shares from the Unclaimed Suspense Account during the year.	247	2,10,314
Number of Shareholders to whom shares were transferred from the Unclaimed Suspense Account during the year.	271	2,18,333
Aggregate number of shareholders and the outstanding shares in the Unclaimed Suspense Account at the end of the year i.e. March 31, 2023.	29	2,222

Reconciliation of Share Capital Audit

The ‘Reconciliation of Share Capital Audit’ was undertaken on a quarterly basis and the audit covers the reconciliation of the total admitted capital with NSDL and CDSL and the total issued and listed capital.

The audit has also confirmed that the aggregate of the total issued/ paid-up capital is in agreement with the total number of shares in physical form and the total number of dematerialized shares held with NSDL and CDSL.

Accounting treatment in preparation of Financial Statements

Indian Accounting Standards (IND-AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Amendment Rules, 2016, have been followed in preparation of the financial statements of the Company in all material aspect.

Internal Controls

The Company has a formal system of internal control testing which examines both the design effectiveness and operational effectiveness to ensure reliability of financial and operational information and all statutory/ regulatory compliances.

CORPORATE GOVERNANCE REPORT (Contd.)

Conferencing Services (I) Private Limited. Decisions in such meetings are always limited to information that is already in the public domain. Please access the homepage at https://www.aurumproptech.in/ and register yourself for regular updates.

Management Discussion and Analysis

As required by the SEBI Listing Regulations, the Management Discussion and Analysis is provided separately in the Annual Report.

Code of Conduct

The Board of Directors has approved a Code of Business Conduct which is applicable to the Members of the Board and all employees. The Company believes in “Zero Tolerance” to bribery and corruption in any form.

The Code lays down the standard of conduct which is expected to be followed by the Directors and the employees in their business dealings and in particular on matters relating to integrity in the workplace, in business practices and in dealing with stakeholders. The Code gives guidance through examples on the expected behaviour from an employee in a given situation and the reporting structure.

All the Board Members and the Senior Management personnel have confirmed compliance with the Code. All Management staff were required to complete an e-learning module in this regard.

Prevention of Insider Trading

The Company has adopted a Code of Conduct for Regulating, Monitoring and Reporting of Trading by Designated Persons and Immediate Relatives with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Company’s shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the trading window is closed. The Company Secretary is responsible for implementation of the Code.

In order to have proper Internal Control System as mandated by the SEBI, the Company has implemented an Insider Trading Monitoring tool. This tool facilitates obtaining pre-clearance approval, submitting initial disclosures, periodend disclosures and continuous disclosures on trading in shares of Aurum PropTech Limited. It helps the Company to monitor trading in shares of the Company by Promoters/ Directors/ Designated Employees/ other Insiders and maintain the data in electronic form.

Agreements relating to the Company

There are no agreements with any party which impact the management or control of the Company or impose any restriction or create any liability upon the Company.

Declaration by Executive Director

I, Onkar Shetye, Executive Director of Aurum PropTech Limited hereby confirm pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that:

The Board of Directors of Aurum PropTech Limited has laid down a code of conduct for all the Board Members and Senior Management Personnel of the Company. The said code of conduct has also been posted on Company’s website https:// aurumproptech.in/investor/policies/

All the Board members and senior management personnel have affirmed their compliance with the said code of conduct for the year ended on March 31, 2023.

Yours faithfully,

Onkar Shetye

Executive Director

Date: July 18, 2023 Place: Navi Mumbai

Information for shareholders on the internet

The Company actively communicates its strategy and the developments of its business to the financial markets. The Press release, Analysts’ conference calls as well as the presentations at analysts meetings are organized by Chorus Call

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review Governance

Financial Statements

ANNEXURE A

CERTIFICATE OF NON-dIsQuALIFICATION OF dIRECTORs

(Pursuant to Regulation 34(3) and Schedule V Para C Clause (10)(i) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015)

To,

The Members,

AuRum PROPTECh LImITEd

(Formerly Known as ‘Majesco Limited’) Aurum Q1, Aurum Q Parc, Thane Belapur Road, Navi Mumbai 400710

We have examined the relevant registers, records, forms, returns and disclosure received from the Directors of AuRum PROPTECh LImITEd (CIN L72300mh2013PLC244874) having registered office at Aurum Q1, Aurum Q Parc, Thane Belapur Road, Navi Mumbai 400710 (hereinafter referred to as ‘the Company’) produced before us by the Company for the purpose of issuing this certificate in accordance with Regulation 34(3) read with Schedule V Para C sub Clause (10)(i) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015.

In our opinion and to the best of our knowledge and according to the verifications including Directors Identification number (DIN) status from the portal of Ministry of Corporate Affairs at www.mca.gov.in, as considered necessary and explanation furnished to us by the Company and its officers , we hereby certify that none of the Directors on the Board of the Company as stated below for the financial year ending on March 31, 2023 have been debarred or disqualified from being appointed or continuing as Directors of Companies by the Securities Exchange Board of India, Ministry of Corporate Affairs or such other statutory Authority.

sr. No.	Name of the Director	dIN	Date of appointment in the Company
1.	Ramashrya RamjagYadav	00145051	July23,2021
2.	SrirangYashwant Athalye	02546964	May04,2021
3.	Onkar Sunil Shetye	06372831	May04,2021
4.	Vasant Vitthaldas Gujarathi	06863505	March 03,2020
5.	Ajit Ravindra Joshi	08108620	July23,2021
6.	Padma Samir Deosthali	09250994	July23,2021

ANNEXURE B

CERTIFICATE FROm PRACTICING COmPANy sECRETARy ON COmPLIANCE wITh ThE CONdITIONs OF CORPORATE GOVERNANCE uNdER sChEduLE V OF ThE LIsTING OBLIGATIONs ANd dIsCLOsuRE REQuIREmENTs:

I have examined the compliance of conditions of Corporate Governance by Aurum PropTech Limited (Formerly known as Majesco Limited), for the financial year ended March 31, 2023, as stipulated in Chapter IV of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The compliance of the conditions of Corporate Governance is the responsibility of the Management, my examination was limited to the procedure and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of Corporate Governance.

It is neither an audit nor an expression of the opinion on the financial statements of the Company. In my opinion, and to the best of my information and according to the explanations given to me, I certify that the Company has complied with the conditions of Corporate Governance as stipulated in the provisions of Chapter IV of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

I further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the Management has conducted the affairs of the Company.

For Ainesh Jethwa & Associates

Practicing Company Secretaries Peer Review Certificate No. 1727/2022

Aineshkumar Jethwa

Proprietor Membership No. ACS 27990 COP No. : 19650 UDIN: A027990E000626401

Place: Mumbai Date: July 18, 2023

Ensuring the eligibility for the appointment or continuity of every Director on the Board of above referred Company is the responsibility of the management of the Company. Our responsibility is to express an opinion as stated above based on our verification. This certificate is neither an assurance as to the future viability of the Company or effectiveness with which the management has conducted the affairs of the Company.

For Ainesh Jethwa & Associates

Practicing Company Secretaries Peer Review Certificate No. 1727/2022

Aineshkumar Jethwa

Proprietor Membership No. ACS 27990 COP No. : 19650 UDIN: A027990E000626401

Place: Mumbai Date: July 18, 2023

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

ANNEXURE C

COMPLIANCE CERTIFICATE BY EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER

[Pursuant to Regulation 17(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015]

We, the undersigned, in our respective capacities as Executive Director and Chief Financial Officer of Aurum PropTech Limited (Formerly known as Majesco Limited), (“the Company”) to the best of our knowledge and belief, certify that:

1) We have reviewed Financial Statements and Cash Flow Statements for the financial year ended March 31, 2023 and that to the best of our knowledge, information and belief, we state that:
a) these statements do not contain any material untrue statement or omit any material fact or contain statements that might be misleading;
b) these statements together present, a true and fair view of the Company’s affairs and are in compliance with existing accounting standards, applicable laws and regulations.
2) There are, to the best of our knowledge and belief, no transactions entered into by the Company during the year which are fraudulent, illegal or violates of the Company’s code of conduct.
3) We are responsible for establishing and maintaining internal controls for financial reporting and that we have evaluated the effectiveness of internal control systems of the Company pertaining to financial reporting and have disclosed to the Auditors and the Audit Committee, deficiency in the design or operation of internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify these deficiencies.
4) We have indicated, based on our most recent evaluation, wherever applicable, to the Auditors and the Audit Committee:
a) Significant changes, if any, in internal controls over financial reporting during the year;
b) Significant changes, if any, in the accounting policies during the year and that the same has been disclosed in the notes to the financial statements; and
c) Instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an employee having a significant role in the Company’s internal control system over financial reporting.

FINANCIAL sTATEmENTs STANDALONE - 95 - 153 CONSOLIDATED - 154 - 216

Yours faithfully,

Onkar Shetye Kunal Karan Executive Director Chief Financial Officer

Executive Director

Date: July 18, 2023 Place: Navi Mumbai

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

IndePendenT AudITOR’S RePORT

to the Members of Aurum proptech Limited (Formerly known as Majesco Limited)

these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Report on the Audit of the Standalone Financial Statements

Key AudIT MATTeRS

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone financial statements for the year ended March 31, 2023. 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.

OPInIOn

We have audited the accompanying standalone financial statements of Aurum proptech Limited (Formerly known as Majesco Limited) (“the Company”), which comprise the Balance Sheet as at March 31, 2023, and the Statement of Profit and Loss (Including Other Comprehensive Income), Statement of Changes in Equity and Statement of Cash Flows for the year then ended, and notes to the standalone financial statements, including a summary of significant accounting policies and other explanatory information.

We have determined that there are no key audit matters to communicate in our report.

Information Other than the Standalone Financial Statements and Auditor’s Report Thereon

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Companies Act, 2013 (“the Act’) in the manner so required and give a true and fair view in conformity with the Indian Accounting standards prescribed under section 133 of the Act read with Companies (Indian Accounting Standards) Rules, 2015 (“Ind As”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2023, and loss other comprehensive income, changes in equity and its cash flows for the year ended on that date.

the Company’s Board of directors is responsible for the other information. the other information comprises the information included in the Company’s Annual report but does not include the standalone financial statements and our auditor’s report thereon. the Company’s Annual report is expected to be made available to us after the date of this auditor’s report.

Our opinion on the standalone financial statements does not cover the other information and we will not express any form of assurance conclusion thereon.

to the Members of Aurum PropTech Limited (Formerly known as Majesco Limited) (continued)

BASIS FOR OPInIOn

In connection with our audit of the standalone financial statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

We conducted our audit in accordance with the standards on Auditing (SAs) specified under section 143(10) of the Act. our responsibilities under those standards are further described in the Auditor’s responsibilities for the Audit of the standalone Financial statements 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 statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with

When we read the Company’s Annual Report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance under SA 720 ‘The Auditor’s responsibilities relating to other Information’.

Independent AudItor’s report (Contd.)

Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements

the Company’s Board of directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under section 133 of the Act. this responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of 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 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 statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial statements, the Board of directors is 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.

those Board of directors are also responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Standalone Financial Statements

our objectives are to obtain reasonable assurance about whether the standalone financial statements as a whole are 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 these standalone financial statements.

We give in “Annexure A” a detailed description of Auditor’s responsibilities for Audit of the standalone Financial statements.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in “Annexure B” a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

to the Members of Aurum PropTech Limited (Formerly known as Majesco Limited) (continued)

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 purposes of our audit.
(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.
(c) The Balance Sheet, the Statement of Profit and Loss (including other comprehensive income), the Statement of Changes in Equity and the statement of Cash Flow dealt with by this report are in agreement with the books of account.
(d) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act.
(e) on the basis of the written representations received from the directors as on March 31, 2023 taken on record by the Board of Directors, none of the directors are disqualified as on March 31, 2023 from being appointed as a director in terms of Section 164 (2) of the Act.

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

Independent AudItor’s report (Contd.)

AnneXuRe A

TO THE INDEPENDENT AUDITOR’S REPORT

(f) With respect to the adequacy of the internal financial controls with reference to standalone financial statements of the Company and the operating effectiveness of such controls, refer to our separate report in “Annexure C”.
(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 does not have any pending litigations which would impact its financial position.
ii. the Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.
iii. there has been no delay in transferring amounts, required to be transferred, to the Investor education and protection Fund by the Company.
iv. (1) the Management has represented that, to the best of its knowledge and belief, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (“ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
- (2) The Management has represented, that, to the best of its knowledge and belief, no funds have been received by the Company from any persons or entities, including foreign

entities (Funding Parties), with the understanding, whether recorded in writing or otherwise, as on the date of this audit report, that the Company shall, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

  - to the Members of **Aurum PropTech Limited** (Formerly known as Majesco Limited) (continued)

  - (3) Based on the audit procedures performed that have been considered reasonable and appropriate in the circumstances, and according to the information and explanations provided to us by the Management in this regard nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of rule 11(e) as provided under (1) and (2) above, contain any material mis-statement.

v. the Company has neither declared nor paid any dividend during the year.
vi. As proviso to rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable for the company only w.e.f. April 1, 2023, reporting under this clause is not applicable.
In our opinion, according to information, explanations given to us, the remuneration paid by the Company to its directors is within the limits laid prescribed under Section 197 of the Act and the rules thereunder.

For M S K A & Associates

Chartered Accountants ICAI Firm Registration No. 105047W Vishal Vilas divadkar partner Membership No.: 118248 UDIN: 23118247BGYDKP2938 place: Mumbai Date: April 27, 2023

AnneXuRe A TO THe IndePendenT AudITOR’S RePORT On eVen dATe On THe STAndALOne FInAnCIAL STATeMenTS OF AuRuM PROPTeCH LIMITed (FORMeRLy KnOWn AS MAJeSCO LIMITed)

Auditor’s Responsibilities for the Audit of the Standalone Financial Statements

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 statements, 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 from 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. under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to standalone financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management’s 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 Company’s ability 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 standalone financial statements 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 statements, including the disclosures, and whether the standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

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 to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the standalone financial statements for the year ended March 31, 2023 and are therefore, the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

For M S K A & Associates

Chartered Accountants

ICAI Firm Registration No. 105047W

Vishal Vilas divadkar

partner

Membership No.: 118248 UDIN: 23118247BGYDKP2938 place: Mumbai Date: April 27, 2023

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

AnneXuRe B

TO INDEPENDENT AUDITORS’ REPORT

(d) According to the information and explanations given to us, the Company has not revalued its property, plant and Equipment (including Right of use assets) or intangible assets or both during the year. Accordingly, the requirements under paragraph 3(i)(d) of the order are not applicable to the Company.

AnneXuRe B TO IndePendenT AudITORS’ RePORT OF eVen dATe On THe STAndALOne FInAnCIAL STATeMenTS OF AuRuM PROPTeCH LIMITed (FORMeRLy KnOWn AS MAJeSCO LIMITed) FOR THe yeAR ended MARCH 31, 2023

[Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’ in the Independent Auditors’ report]

  - (e) According to the information and explanations given to us, no proceeding has been initiated or pending against the Company for holding benami property under the Benami transactions (Prohibition) Act, 1988, as amended and rules made thereunder. Accordingly, the provisions stated in paragraph 3(i) (e) of the order are not applicable to the Company.

i. (a) A. the Company has maintained proper records showing full particulars including quantitative details and situation of Property, Plant and Equipment and relevant details of right-of-use assets.
B. the Company has maintained proper records showing full particulars of intangible assets.
ii. (a) the Company is involved in the business of rendering services. Accordingly, the provisions stated in paragraph 3(ii) (a) of the order are not applicable to the Company.
(b) Property, Plant and Equipment and right of use assets have been physically verified by the management at reasonable intervals during the year and no material discrepancies were identified on such verification.
(b) the Company has not been sanctioned any working capital limits during the year. Accordingly, the requirements under paragraph 3(ii)(b) of the order is not applicable to the Company.
(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the title deeds of immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) as disclosed in the financial statements are held in the name of the Company.
iii. (a) According to the information explanation provided to us, the Company has provided loans or provided advances in the nature of loans, or given guarantee, or provided security to any other entity.
(A) the details of such loans or advances and guarantees or security to subsidiaries are as follows:

||Guarantees ( **in Lakhs)**|**Security** **(**in Lakhs)|Loans (**in** **Lakhs)**|**Advances in the** **nature of loans** **(**in Lakhs)|
|---|---|---|---|---|
|Aggregate
amount
provided
duringtheyear|nIL|nIL|22.67|nIL|
|subsidiaries|nIL|nIL|22.67|nIL|
|Balance
outstanding
as
at
balance sheet date in respect of
above cases
-
subsidiaries|nil|nil|22.37|nil|

(c) In case of the loans, schedule of repayment of principal and payment of interest have been stipulated and the borrowers have been regular in the payment of the principal and interest.
(b) According to the information and explanations given to us and based on the audit procedures performed by us, we are of the opinion that the terms and conditions in relation to investments made, and grant of all loans are not prejudicial to the interest of the Company.
(d) According to the information and explanations

ANNEXURE B

TO INDEPENDENT AUDITORS’ REPORT (Contd.)

v. According to the information and explanations given to us, the Company has not accepted any deposits from the public within the meaning of Sections 73, 74, 75 and 76 of the Act and the rules framed there under.

given to us and on the basis of our examination of the records of the Company, there are no amounts overdue for more than ninety days in respect of the loan granted to Company.

(e) According to the information explanation provided to us, the loans has not fallen due during the year. Hence, the requirements under paragraph 3(iii) (e) of the order are not applicable to the Company.
vi. the provisions of sub-section (1) of section 148 of the Act are not applicable to the Company as the Central Government of India has not specified the maintenance of cost records for any of the products of the Company. Accordingly, the provisions stated in paragraph 3 (vi) of the order are not applicable to the Company.
(f) According to the information explanation provided to us, the Company has granted loans during the year. these are not repayable on demand / have stipulated the schedule for repayment of principal and interest. Hence, the requirements under paragraph 3(iii)(f) of the order are not applicable to the Company.
vii. (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, undisputed statutory dues including Goods and services tax, provident fund, employees’ state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess, and other statutory dues have generally been regularly deposited with the appropriate authorities though there has been a slight delay in a few cases.
iv. According to the information and explanations given to us, the Company has neither, directly or indirectly, granted any loan, or provided guarantee or security to any of its directors or to any other person in whom the director is interested, in accordance with the provisions of section 185 of the Act nor made investments through more than two layers of investment companies in accordance with the provisions of Section 186 of the Act. Accordingly, provisions stated in paragraph 3(iv) of the order are not applicable to the Company.

there are no undisputed amounts payable in respect of Goods and Services tax, provident fund, employees’ state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, cess, and other statutory dues in arrears as at March 31, 2023 for a period of more than six months from the date they became payable.

(b) According to the information and explanation given to us and examination of records of the Company, details of statutory dues referred to in sub-Clause (a) above which have not been deposited as on March 31, 2023 on account of any dispute, are as follows:

|name of the
statute|nature of dues|Amount
demanded
(**In lacs)**|**Amount Paid** **(**In lacs)|Period to which
the amount
relates|Forum where
dispute is
pending
|
|---|---|---|---|---|---|
|Income Tax Act,
1961|non grant
of tds and
Advance tax and
levy of interest
u/s 234A, 234B,
and 234C|566.30|nil|AY 2015-16|Rectifcation
application
fled with the
Assessing
Offcer|

now recorded in the books of account. Hence, the provision stated in paragraph 3(viii) of the order is not applicable to the Company.
viii. According to the information and explanations given to us, there are no transactions which are not accounted in the books of account which have been surrendered or disclosed as income during the year in Tax Assessment of the Company. Also, there are no previously unrecorded income which has been
ix. (a) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of loans or

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ANNEXURE B

TO INDEPENDENT AUDITORS’ REPORT (Contd.)

borrowings or in payment of interest thereon to any lender.

(b) According to the information and explanations given to us and on the basis of our audit procedures, we report that the Company has not been declared willful defaulter by any bank or financial institution or government or any government authority.
(c) In our opinion and according to the information explanation provided to us, money raised by way of term loans during the year have been applied for the purpose for which they were raised.
(d) According to the information and explanation provided to us, there are no funds raised on short term basis. Accordingly, the provision stated in paragraph 3(ix)(d) of the order is not applicable to the Company.
(e) According to the information explanation given to us and on an overall examination of the standalone financial statements of the Company, we report that the Company has not taken any funds from an any entity or person on account of or to meet the obligations of its subsidiaries.
(f) According to the information and explanations given to us and procedures performed by us, we report that the Company has not raised loans during the year on the pledge of securities held in its subsidiaries. Hence, reporting under the Clause 3(ix)(f) of the order is not applicable to the Company.
x. (a) In our opinion and according to the information and explanation given to us the Company did not raise any money by way of initial public offer or further public offer (including debt instruments) during the year. Hence, the provisions stated in paragraph 3 (x)(a) of the order are not applicable to the Company.
(b) According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully, partly, or

optionally convertible debentures during the year. Hence, the provisions stated in paragraph 3 (x)(b) of the order are not applicable to the Company.

xi. (a) Based on our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we report that no material fraud by the Company nor on the Company has been noticed or reported during the course of our audit.
(b) We have not come across of any instance of material fraud by the Company or on the Company during the course of audit of the standalone financial statement for the year ended March 31, 2023, accordingly the provisions stated in paragraph (xi)(b) of the order is not applicable to the Company.
(c) As represented to us by the Management, there are no whistle-blower complaints received by the Company during the year.
xii. (a) the Company is not a nidhi Company. Accordingly, the provisions stated in paragraph 3(xii) (a) to (c) of the order are not applicable to the Company.
xiii. According to the information and explanations given to us and based on our examination of the records of the Company, transactions with the related parties are in compliance with sections 177 and 188 of the Act, where applicable and details of such transactions have been disclosed in the standalone financial statements as required by the applicable accounting standards.
xiv. (a) In our opinion and based on our examination, the Company has an internal audit system commensurate with the size and nature of its business.
(b) We have considered internal audit reports of the Company issued till date, for the period under audit.
xv. According to the information and explanations given to us, in our opinion, during the year the Company has not entered into non-cash transactions with

ANNEXURE B

TO INDEPENDENT AUDITORS’ REPORT (Contd.)

directors or persons connected with its directors and hence, provisions of Section 192 of the Act are not applicable to Company.

xvi. (a) The Company is not required to be registered under section 45 IA of the reserve Bank of India Act, 1934 and accordingly, the provisions stated in paragraph 3 (xvi)(a) of the order are not applicable to the Company.
(b) The Company is not required to be registered under section 45 IA of the reserve Bank of India Act, 1934 and accordingly, the provisions stated in paragraph 3 (xvi)(b) of the order are not applicable to the Company.
(c) the Company is not a Core investment Company (CIC) as defined in the regulations made by Reserve Bank of India. Hence, the reporting under paragraph 3 (xvi)(c) of the order are not applicable to the Company.
(d) the Group does not have any CIC as part of its group. Hence the provisions stated in paragraph 3 (xvi) (d) of the order are not applicable to the Company.
xvii. Based on the overall review of standalone financial statements, the Company has incurred cash losses in the current financial year and in the immediately preceding financial year. The details of the same are as follows:

as follows:
Particulars	March 31, 2023	March 31, 2022
Cash Loss	`845 lakhs\|`789 lakhs

xviii. there has been no resignation of the statutory auditors during the year. Hence, the provisions stated in paragraph 3 (xviii) of the order are not applicable to the Company.
xix. According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the standalone financial statements, our knowledge of the Board of directors and
management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that Company is not capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.
xx. According to the information and explanations given to us and based on our verification, the provisions of section 135 of the Act are applicable to the Company. The Company has made the required contributions during the year and there are no unspent amounts which are required to be transferred either to a Fund or to a special Account as per the provisions of section 135 of the Act read with schedule VII. Accordingly, reporting under Clause 3(xx)(a) and Clause 3(xx)(b) of the order is not applicable to the Company.
xxi. the reporting under Clause 3(xxi) of the order is not applicable in respect of audit of standalone financial statements. Accordingly, no comment in respect of the said Clause has been included in the report.

For M S K A & Associates

Chartered Accountants ICAI Firm Registration No. 105047W

Vishal Vilas divadkar

partner

Membership No.: 118248 UDIN: 23118247BGYDKP2938 place: Mumbai Date: April 27, 2023

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AnneXuRe C

TO THE INDEPENDENT AUDITOR’S REPORT

AnneXuRe C TO THe IndePendenT AudITOR’S RePORT OF eVen dATe On THe STAndALOne FInAnCIAL STATeMenTS OF AuRuM PROPTeCH LIMITed (FORMeRLy KnOWn AS MAJeSCO LIMITed)

[Referred to in paragraph 2(f) under ‘Report on Other Legal and Regulatory Requirements’ in the Independent Auditors’ report of even date to the Members of Aurum proptech Limited (Formerly known as Majesco Limited) on the standalone Financial statements for the year ended March 31, 2023]

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)

OPInIOn

We have audited the internal financial controls with reference to standalone financial statements of Aurum proptech Limited (Formerly known as Majesco Limited) (“the Company”) as of March 31, 2023 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.

In our opinion, the Company has, in all material respects, an adequate internal financial controls with reference to standalone financial statements and such internal financial controls with reference to standalone financial statements were operating effectively as at March 31, 2023, based on the internal control with reference to standalone financial statements criteria established by the Company considering the essential components of internal control stated in the Guidance note on Audit of Internal Financial Controls over Financial reporting issued by the Institute of Chartered Accountants of India (ICAI) (the “Guidance note”).

MAnAGeMenT’S ReSPOnSIBILITy FOR InTeRnAL FInAnCIAL COnTROLS

the Company’s Management is responsible for establishing and maintaining internal financial controls based on the internal control with reference to standalone financial statements criteria established by the Company considering the essential components of internal control stated in the Guidance note. these responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to Company’s

policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

AudITORS’ ReSPOnSIBILITy

our responsibility is to express an opinion on the Company’s internal financial controls with reference to standalone financial statements based on our audit. We conducted our audit in accordance with the Guidance Note and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Act, to the extent applicable to an audit of internal financial controls. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to standalone financial statements was established and maintained and if such controls operated effectively in all material respects.

our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with reference to standalone financial statements and their operating effectiveness. our audit of internal financial controls with reference to standalone financial statements included obtaining an understanding of internal financial controls with reference to standalone financial statements, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. the procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the standalone financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company’s internal financial controls with reference to standalone financial statements.

MeAnInG OF InTeRnAL FInAnCIAL COnTROLS WITH ReFeRenCe TO STAndALOne FInAnCIAL STATeMenTS

A Company’s internal financial control with reference to standalone financial statements is a process designed to provide reasonable assurance regarding the

ANNEXURE C

TO THE INDEPENDENT AUDITOR’S REPORT (Contd.)

reliability of financial reporting and the preparation of standalone financial statements for external purposes in accordance with generally accepted accounting principles. A Company’s internal financial control with reference to standalone financial statements includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of standalone financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the standalone financial statements.

InHeRenT LIMITATIOnS OF InTeRnAL FInAnCIAL COnTROLS WITH ReFeRenCe TO STAndALOne FInAnCIAL STATeMenTS

Because of the inherent limitations of internal financial controls with reference to standalone financial

statements, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls with reference to standalone financial statements to future periods are subject to the risk that the internal financial control with reference to standalone financial statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

For M S K A & Associates

Chartered Accountants ICAI Firm Registration No. 105047W

Vishal Vilas divadkar

partner

Membership No.: 118248 UDIN: 23118247BGYDKP2938 place: Mumbai Date: April 27, 2023

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Financial Statements

STAndALOne BALAnCe SHeeT AS AT MARCH 31, 2023

==> picture [501 x 514] intentionally omitted <==

----- Start of picture text -----

(Amount in ` Lakhs, unless otherwise stated)
Particulars notes As at As at
March 31, 2023 March 31, 2022
ASSeTS
non-current assets
Property, plant and equipment 4 (i) 3,319 3,043
right of use assets 6 762 554
Capital work-in-progress 4 (ii) - 223
Intangible assets 5 (i) 731 -
Intangible assets under development 5 (ii) 70 -
Financial assets
Investments 7 10,397 4,367
Loans 8 2,237 -
Other fnancial assets 9 331 104
deferred tax asset (net) 34 529 255
Income tax assets (net) 10 1,035 936
other non current assets 11 223 23
Total non-current assets 19,634 9,505
Current assets
Financial assets
Investments 12 2,600 3,228
trade receivables 13 288 53
Cash and cash equivalents 14 1,519 2,494
Bank balances other than cash and cash equivalents 15 1,982 2,991
Other fnancial assets 16 289 45
other current assets 17 645 426
Total current assets 7,323 9,237
Total assets 26,957 18,742
eQuITy And LIABILITIeS
equity
Equity share capital 18 1,968 1,431
Other equity 19 22,140 15,337
Total equity 24,108 16,768
Liabilities
non-current liabilities
Financial liabilities
Borrowings 20 433 -
Lease liabilities 38 590 425
Other fnancial liabilities 21 129 24
other non current liabilities 22 56 10
Employee beneft obligations 23 6 3
Total non-current liabilities 1,214 462
Current liabilities
Financial liabilities
trade payables
a) dues of micro enterprises and small enterprises 24 - -
b) dues of creditors other than micro enterprises and small 109 100
enterprises
Lease liabilities 38 205 116
Other fnancial liabilities 25 1,288 1,285
other current liabilities 26 33 8
Employee beneft obligations 27 - 3
Total current liabilities 1,635 1,512
Total liabilities 2,849 1,974
Total equity and liabilities 26,957 18,742
Summary of signifcant accounting policies 2
other notes 36 to 68
The accompanying notes are an integral part of the standalone financial statements.
----- End of picture text -----

As per our report of even date For and on behalf of the Board For M S K A & Associates Onkar Shetye Chartered Accountants executive director

Vasant Gujarathi

Chartered Accountants

executive director non-executive and Independent director DIN - 06372831 DIN - 06863505 Kunal Karan Sonia Jain Chief Financial Officer Company secretary

ICAI Firm Registration no.: 105047W Vishal Vilas divadkar partner Membership no.: 118247 place: Mumbai Date: April 27, 2023

Company secretary M No - A52138 place: navi Mumbai Date: April 27, 2023

STAndALOne STATeMenT OF PROFIT And LOSS FOR THE YEAR ENDED MARCH 31, 2023

==> picture [501 x 455] intentionally omitted <==

----- Start of picture text -----

(Amount in Lakhs, unless otherwise stated) Particulars notes year ended year ended March 31, 2023 March 31, 2022 InCOMe revenue from operations 28 923 165 other income 29 663 490 Total income 1,586 655 eXPenSeS Cost of Good sold 30 124 - Employee benefit expenses 31 903 756 Finance costs 32 96 12 depreciation and amortization expenses 33 665 189 other expenses 34 1,197 778 Total expenses 2,985 1,735 (Loss) before tax (1,399) (1,080) TAX eXPenSe 35 Current tax - - deferred tax (275) (228) Total tax (credit) (275) (228) (Loss) for the year (1,124) (852) Other comprehensive (loss) Items that will not be reclassified subsequently to profit or loss remeasurement Gains / (losses) on gratuity plan 3 (2) tax on remeasurement Gains / (losses) on gratuity plan (1) 0 Total other comprehensive Income / (loss) for the year 2 (2) Total comprehensive (loss) for the year, net of tax (1,122) (854) earnings per share 36 Basic () (2.93) (2.80)
diluted (`) (2.93) (2.80)
Summary of significant accounting policies 2
other notes 36 to 68
----- End of picture text -----

The accompanying notes are an integral part of the standalone financial statements.

As per our report of even date	For and on behalf of the	Board
For M S K A & Associates	Onkar Shetye	Vasant Gujarathi
Chartered Accountants	executive director	non-executive and Independent director
ICAI Firm Registration no.: 105047W	DIN - 06372831	DIN - 06863505
Vishal Vilas divadkar	Kunal Karan	Sonia Jain
partner	Chief Financial Offcer	Company secretary
Membership no.: 118247		M No - A52138
place: Mumbai		place: navi Mumbai
Date: April 27, 2023		Date: April 27, 2023

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STAndALOne STATeMenT OF CHAnGeS In eQuITy FOR THE YEAR ENDED MARCH 31, 2023

(A) eQuITy SHARe CAPITAL

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|---|---|
|Particulars|As at March 31, 2023||As at March 31, 2022||
||no. of shares|Amount|no. of shares|Amount|
|Equity shares of`5/- each issued, subscribed
and fully paid|||||
|opening|2,86,29,689|1,431|2,86,29,689|1,431|
|Add : shares issued on right issue|4,29,44,533|537|-|-|
|Closing|7,15,74,222|1,968|2,86,29,689|1,431|

(B) OTHeR eQuITy

|||(Amount inLakhs, unless|(Amount inLakhs, unless|(Amount in`Lakhs, unless|otherwise stated)|
|---|---|---|---|---|---|
|Particulars||Reserves and Surplus|||Total|
||employee
stock options
outstanding
account|Securities
premium|Capital
redemption
reserve|Retained
earnings||
|Balance as at April 1, 2022|86|13,548|79|1,624|15,337|
|(Loss) for the year|-|-|-|(1,124)|(1,124)|
|other comprehensive income
(oCI) for the year|-|-|-|2|2|
|Total comprehensive (loss)
for the year|-|-|-|(1,122)|(1,122)|
|employee
stock
option
scheme compensation (refer
note 31)|92|-|-|-|92|
|employee
stock
option
scheme
compensation
of
subsidiaries|169|-|-|-|169|
|Addition on account of right
issue|-|7,664|-|-|7,664|
|Balance as at March 31,
2023|347|21,212|79|502|22,140|

STANDALONE STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

nATuRe And PuRPOSe OF ReSeRVe

(a) employee Stock options outstanding account (eSOOA)

The Employee stock options outstanding account is used to record the fair value of equity-settled share based payment transactions. the amounts recorded in this account are transferred to share premium upon exercise of stock options. In case of cancellation of options, corresponding balance is transferred to retained earnings.

(b) Securities premium

Amounts received on issue of shares in excess of the par value has been classified as securities premium.

(c) Capital redemption reserve

As per Companies Act, 2013, capital redemption reserve is created when company purchases its own shares out of free reserves or securities premium. A sum equal to the nominal value of the shares so purchased is transferred to capital redemption reserve. the reserve is utilized in accordance with the provisions of section 69 of the Companies Act, 2013.

(d) Retained earnings

retained earning represents undistributed accumulated earnings of the Company as on the balance sheet date.

The accompanying notes are an integral part of the standalone financial statements.

As per our report of even date For and on behalf of the Board For M S K A & Associates Onkar Shetye Vasant Gujarathi Chartered Accountants executive director non-executive and Independent director ICAI Firm Registration no.: 105047W DIN - 06372831 DIN - 06863505 Vishal Vilas divadkar Kunal Karan Sonia Jain partner Chief Financial Officer Company secretary Membership no.: 118247 M No - A52138 place: Mumbai place: navi Mumbai Date: April 27, 2023 Date: April 27, 2023

|||(Amount inLakhs, unless|(Amount inLakhs, unless|(Amount in`Lakhs, unless|otherwise stated)|
|---|---|---|---|---|---|
|Particulars||Reserves and Surplus|||Total|
||employee
stock options
outstanding
account|Securities
premium|Capital
redemption
reserve|Retained
earnings||
|Balance as at April 1, 2021|-|13,548|79|2,476|16,103|
|(Loss) for the year|-|-|-|(852)|(852)|
|other comprehensive loss
(oCI) for the year|-|-|-|(2)|(2)|
|Total comprehensive loss
for the year|-|-|-|(854)|(854)|
|employee
stock
option
scheme compensation (refer
note 31)|86|-|-|-|86|
|Balance as at March 31,
2022|86|13,548|79|1,624|15,337|

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Financial Statements

Governance

STAndALOne STATeMenT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2023

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(Amount in ` Lakhs, unless otherwise stated)
Particulars year ended year ended
March 31, 2023 March 31, 2022
Cash fow from operating activities
Loss before exceptional items and tax (1,399) (1,080)
Adjustments for:
depreciation and amortization expenses 664 189
employee stock option scheme compensation 92 86
Finance costs 96 12
Interest income on fxed deposits (310) (146)
Interest income on intercompany loans (89) -
-
Reversal of compensated absences expenses (refer note 29) (22)
Proft on sale and revaluation of current investments ( mutual funds ) (7) (321)
Operating loss before working capital changes (953) (1,282)
Changes in working capital:
Increase in non current and current fnancial assets (458) (60)
Increase in non-current and current other assets (477) (185)
Increase / (decrease) in non-current and current other fnancial liabilities 52 (55)
decrease in non-current and current provisions - (14)
Increase in trade payables 9 10
Increase in trade receivable (235) (53)
Increase in non-current and current other current liabilities 75 11
Cash (used in) operations (1,987) (1,628)
Income tax paid (98) (21)
Net cash fow used in operating activities (A) (2,085) (1,649)
Cash fow from investing activities
Payment for property, plant and equipment, intangible asset, capital work (1,284) (775)
in progress and Intangible assets under development
Proceeds from sale of property, plant and equipment - 1
payment for investment in subsidiaries and associates (5,861) (4,367)
Loan to subsidiaries (2,237) -
Proceed from fnancial assets current - Investments 735 -
Net proceeds from /(investment in) fxed deposits 879 9,079
Interest received 385 213
Net cash fow (used in)/generated from investing activities (B) (7,383) 4,152
Cash fow from fnancing activities
Proceeds from issuance of equity shares ( net of Issue expenses ) 8,201 -
proceeds from borrowing from bank 491 -
repayment of lease liability net of interest (190) (50)
Interest and other fnance charges paid (9) (12)
Net cash fow generated from/ (used in ) fnancing activities (C) 8,493 (62)
net increase in cash and cash equivalents (A+B+C) (975) 2,441
Cash and cash equivalents at the beginning of the year 2,494 53
Cash and cash equivalents at the end of the year 1,519 2,494
Cash and cash equivalents comprise (Refer note 14)
Balances with banks
Current accounts 447 294
Fixed deposit with maturity for less than 3 months 1,072 2,200
Total cash and cash equivalents at end of the year 1,519 2,494
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The above cash flow statement has been prepared under the ‘Indirect Method’ as set out in Ind AS-7 “ Statement of Cash Flows”.
Previous year figures have been regrouped or reclassified wherever necessary.

The accompanying notes are an integral part of the standalone financial statements.

As per our report of even date

For and on behalf of the Board Onkar Shetye Vasant Gujarathi executive director non-executive and Independent director DIN - 06372831 DIN - 06863505

For M S K A & Associates

Chartered Accountants

ICAI Firm Registration no.: 105047W

Vishal Vilas divadkar partner

Kunal Karan Chief Financial Officer

Sonia Jain

Company secretary M No - A52138

Membership no.: 118247

place: Mumbai Date: April 27, 2023

place: navi Mumbai Date: April 27, 2023

nOTeS FORMInG PART OF THe STAndALOne FInAnCIAL STATeMenTS FOR THE YEAR ENDED MARCH 31, 2023

iii) Defined benefit and other long-term employee benefits

1 GeneRAL CORPORATe InFORMATIOn

Aurum proptech Limited (formerly known as Majesco Limited) (“Company”) is a public limited company domiciled in India and is listed on the Bse Limited (Bse) and national stock exchange of India Limited (nse). the Company is in the business of software development for the real estate and other services relating to real estate. Up till September 21,2020, the Company had a subsidiary in the usA and other stepdown subsidiaries in various geographies, including one in India. the subsidiaries were in the business of providing core software solutions for property and casualty (“p&C”) and life and annuity (“L&A”) insurance providers, allowing them to manage policy administration, claims management and billing function.

All assets and liabilities have been classified as current or non-current as per the Company’s operating cycle and other criteria set out in the Schedule III to the Companies Act, 2013. Based on the nature of services and the time between the rendering of service and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as twelve months for the purpose of current and noncurrent classification of assets and liabilities.

(c) use of estimates

The preparation of standalone financial statements in conformity with Ind AS requires the Management to make estimate and assumptions that affect the reported amount of assets and liabilities as at the Balance Sheet date, reported amount of revenue and expenses for the year and disclosures of contingent liabilities as at the Balance sheet date. the estimates and assumptions used in the accompanying financial statements are based upon the Management’s evaluation of the relevant facts and circumstances as at the date of the financial statements. Actual results could differ from these estimates. estimates and underlying assumptions are reviewed on a periodic basis. revisions to accounting estimates, if any, are recognised in the year in which the estimates are revised and in any future years if the revision effects such periods. Also key sources of estimation uncertainty is mentioned below:

Currently the Company is operating directly and through its subsidiaries it has newly formed or acquired in India and abroad.

the Board of directors approved the standalone financial statements for the year ended March 31, 2023 and authorized for issue on April 27, 2023.

2 SuMMARy OF SIGnIFICAnT ACCOunTInG POLICIeS

2.1 Basis of preparation and presentation

(a) Statement of Compliance with Ind AS

The standalone financial statements of the Company have been prepared in accordance with Indian Accounting standards (Ind As) as prescribed under section 133 of the Companies Act ,2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter.

i) useful lives of property, plant and equipment and intangible assets:

(b) Basis of measurement

The standalone financial statements have been prepared on a historical cost convention on accrual basis, except for the following material items that have been measured at fair value as required by relevant Ind AS:-

As described in the significant accounting policy, the Company reviews the estimated useful lives of property, plant and equipment and intangible assets at the end of each reporting period.

i) Certain financial assets and liabilities measured at fair value (refer accounting policy 2.14 on financial instruments)
ii) The fair value measurements and valuation processes:

some of the Company’s assets and liabilities are measured at fair value for

ii) share based payment transactions

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Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

financial reporting purposes. In estimating the fair value of an asset or liability, the Company uses market-observable data to the extent it is available. Where level 1 input are not available, the Company engages third party valuers, where required, to perform the valuation. Information about the valuation techniques and inputs, used in determining the fair value of various assets, liabilities and share based payments are disclosed in notes to standalone financial statements.

is expected to be used by the Company. Based on technical evaluation the management estimates the useful lives of significant items of property, plant and equipment as follows:

Property, plant and equipment	useful Life
Buildings	28years
Computers	2years
Plant and equipment	2 - 5years
Furniture and fxtures	5years
Vehicles	5years
Offce equipment	2 - 5years
Leasehold land	Lease term ranging from 95-99years

iii) Actuarial valuation:

the determination of Company’s liability towards defined benefit obligation to employees is made through independent actuarial valuation including determination of amounts to be recognized in the statement of profit or loss and in other comprehensive income. such valuation depend upon assumptions determined after taking into account inflation, seniority, promotion and other relevant factors such as supply and demand factors in the employment market. Information about such valuation is provided in notes to standalone financial statements.

Based on technical evaluation, the management believes that the useful lives as given above best represent the period over which management expects to use these assets. Hence the useful lives for these assets is different from the useful lives as prescribed under part C of schedule II of the Companies Act, 2013.

depreciation on addition to property plant and equipment is provided on pro-rata basis from the date of acquisition.

depreciation on sale/deduction from property plant and equipment is provided up to the date preceding the date of sale, deduction as the case may be. Losses arising from the retirement of, and gains or losses arising from disposal of Property, plant and equipment measured as the difference between amount realized and net carrying value which are carried at cost are recognized in the statement of Profit and Loss. under ‘Other Income/Other expenses’.

2.2 Property, plant and equipment

Property, plant and equipment are stated at cost of acquisition less accumulated depreciation and accumulated impairment losses, if any. Direct costs are capitalized until the assets are ready for use and include inward freight, and expenses incidental to acquisition and installation. Subsequent expenditures related to an item of Property, plant and equipment are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard of performance.

Depreciation methods, useful lives and residual values are reviewed periodically at each financial year end and adjusted prospectively, as change in accounting estimates.

2.3 Intangible assets and amortization

depreciation methods, estimated useful lives

Intangible assets are recorded at the consideration paid for acquisition of such assets and are carried at cost of acquisition less accumulated amortization and impairment, if any.

Depreciation on Property, plant and equipment is provided when the assets are ready for use on the straight line method, on a pro rata basis, over the estimated useful lives of assets, in order to reflect the period over which the depreciable asset

the Company amortized intangible assets over their estimated useful lives using the straight line

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

Company as a lessee

method. the estimated useful lives of intangible assets are as follows:

the Company’s lease asset classes primarily consist of leases for office premises. The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. to assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: (i) the contract involves the use of an identified asset (ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use of the asset.

assets are as follows:
Intangible assets	useful Life
Computer software	1 - 7years

research costs are expensed as incurred. software product development costs are expensed as incurred unless technical and commercial feasibility of the project is demonstrated, future economic benefits are probable, the Company has an intention and ability to complete and use or sell the software and the costs can be measured reliably. the costs which can be capitalized include the cost of material, direct labor, professional fees paid to consultants, overhead costs that are directly attributable to preparing the asset for its intended use. research and development costs and software development costs incurred under contractual arrangements with customers are accounted as expenses in the Statement of Profit and Loss.

At the date of commencement of the lease, the Company recognizes a right-of-use asset (“rou”) and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (shortterm leases) and low value leases. For these shortterm and low value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.

2.4 Impairment of non-financial assets

At each Balance Sheet date, the Company assesses whether there is any indication that an asset may be impaired. If any such indication exists, management estimates the recoverable amount. recoverable amount is higher of an asset’s net selling price and value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. If the carrying amount of the asset exceeds its recoverable amount, an impairment loss is recognized in the Profit and Loss statement to the extent carrying amount exceeds recoverable amount. Assessment is also done at each Balance sheet date as to whether there is any indication that an impairment loss recognized for an asset in prior accounting periods may no longer exists or may have decreased.

Lease liability and rou asset have been separately presented in the Balance sheet and lease payments have been classified as financing cash flows.

2.6 Employee benefits

(a) Short-term obligations

the undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by employees is recognized in the year during which the employee rendered the services. These benefits comprise compensated absences such as paid annual leave and performance incentives.

2.5 Leases

(b) Other long-term employee benefit obligations

Company as a lessor

(i) Defined contribution plan

At the inception of the lease the Company classifies each of its leases as either an operating lease or a finance lease. The Company recognises lease payments received under operating leases as income on a straight- line basis over the lease term. In case of a finance lease, finance income is recognised over the lease term based on a pattern reflecting a constant periodic rate of return on the lessor’s net investment in the lease.

The Company has defined contribution plans for post employment benefits in the form of provident fund, employees’ state insurance, labour welfare fund, pension fund (nps) and superannuation fund in India which are administered through Government of India and/or Life Insurance Corporation of India (LIC).

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NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(ii) Defined benefit plans

(Share based employee benefits) Regulations, 2014 are accounted using the fair value method. the fair value of options granted to its employees is recognized in the statement of profit and loss on a graded vesting basis over the vesting period of the option. the fair value of options granted to the employees of its subsidiaries are accounted as “Investment in subsidiaries” on a graded vesting basis over the vesting period of the option.

Gratuity: The Company has defined benefit plans for post employment benefits in the form of gratuity for its employees in India. the gratuity scheme of the Company is administered through Life Insurance Corporation of India (LIC). Liability for defined benefit plans is provided on the basis of actuarial valuations, as at the Balance Sheet date, carried out by an independent actuary. the actuarial valuation method used by independent actuary for measuring the liability is the projected unit credit method. Actuarial gains and losses are recognized immediately in the other Comprehensive Income (oCI) as income or expense (net of taxes).

2.7 Foreign currency transactions

i) Functional and presentation currency: the standalone financial statements are prepared in Indian rupees. the Indian rupee is the functional currency of the Company.
ii) Foreign currency transactions and balances: translation of foreign currency into Indian rupees has been carried out as under:

Compensated absences: the employees of the Company are also entitled for other long-term benefit in the form of compensated absences as per the policy of the Company. Leave encashment vests with employees on an annual basis for leave balance above the upper limit as per the Company’s policy. At the time of retirement, death while in employment or on termination of employment leave encashment vests equivalent to salary payable for number of days of accumulated leave balance subject to an upper limit as per the Company’s policy. Liability for such benefit is provided on the basis of actuarial valuation, as at the Balance Sheet date, carried out by an independent actuary. the actuarial valuation method used by independent actuary for measuring the liability is the projected unit credit method. Actuarial gains and losses are recognized immediately in the Profit and Loss statement as income or expense.

a) Both monetary and non-monetary foreign currency assets and liabilities including contingent liabilities are translated at closing exchange rates as at the Balance sheet date.
b) Income and expenditure of transactions are translated at the rate on the date of transaction.
c) All resulting exchange differences on translation are taken directly to the Statement of Profit and Loss.

2.8 Fair value measurement

The Company measures financial instruments, such as, investments at fair value at each Balance Sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. the fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

(c) Share based payments

stock options granted to employees of the Company and its subsidiaries (direct and step down) under the stock option scheme covered by securities and exchange Board of India

In the principal market for the asset or liability, or
In the absence of a principal market, in the most

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

2.11 Taxes

advantageous market for the asset or liability accessible to the Company.

tax expense for the year comprises of current tax and deferred tax. Current tax is measured by the amount of tax expected to be paid to the taxation authorities on the taxable profits after considering tax allowances and exemptions and using applicable tax rates and laws.

All assets and liabilities for which fair value is measured or disclosed in the standalone financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

(a) Current income tax

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities
Current income tax relating to items recognised outside profit or loss is recognized outside profit or loss (either in other comprehensive income or in equity). Current tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.
Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable
Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

the management determines the policies and procedures for both recurring fair value measurement and disclosure. For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

Advance taxes and provisions for current income taxes are presented in the balance sheet after off-setting advance tax paid. Current tax assets and liabilities are offset when there is a legally enforceable right to set off the recognized amount and there is an intention to settle the asset and liability on a net basis.

2.9 Revenue recognition

the Board of directors of the Company in its meeting held on May 15, 2019 has approved to include in the main objects clause of Memorandum of Association of the Company, the business of leasing of immovable and movable properties of all kinds. Accordingly, Company has shown its income from rent as revenue from operations.

(b) deferred tax

“deferred income tax is recognised using the balance sheet approach. deferred income tax assets and liabilities are recognised for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount, except when the deferred income tax arises from the initial recognition of an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction.

2.10 Other Income

dividend income from investments is recognized when the right to receive payment is established. Interest income is recognized on time proportion basis taking into account the amount outstanding and the applicable rate of interest. Income from current investments are recognised periodically based on fair value through profit and loss (FVTPL) as on reporting date. retained gains/ (losses) are recognized on the date on which these investments are sold.

deferred income tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilised.

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NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. Contingent assets are neither recognised nor disclosed in the standalone financial statements.

the carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilised. deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to be received or settled.

A contingent liability recognized in a business combination is initially measured at its fair value. Subsequently, it is measured at the higher of the amount that would be recognized in accordance with the requirements for provisions above or the amount initially recognized less, when appropriate, cumulative amortisation recognized in accordance with the requirements for revenue recognition.

Minimum Alternative tax (MAt) credit is recognized as an asset only when and to the extent there is convincing evidence that the Company will pay normal income tax during the specified period. Such asset is reviewed at each balance sheet date and the carrying amount of the MAt credit asset is written down to the extent their is no longer convincing evidence to the effect that the Company will pay normal income tax during the specified period.

2.13 Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amounts of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash equivalents consist of balances with banks which are unrestricted for withdrawal and usage.

deferred tax assets and liabilities are offset when there is a legally enforceable right to set off assets against liabilities representing the current tax and where the deferred tax assets and liabilities relate to taxes on income levied by the same governing taxation laws.

2.14 Financial instruments

All financial instruments are recognized initially at fair value. transaction costs that are attributable to the acquisition of the financial asset (other than financial assets recorded at fair value through profit or loss) are included in the fair value of the financial assets. Purchase or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trade) are recognized on trade date. While, loans and borrowings and payables are recognised net of directly attributable transaction costs.

2.12 Provisions and contingent liabilities

A provision is recognized when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. these are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

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

For the purpose of subsequent measurement, financial instruments of the Company are classified in the following categories: non derivative financial assets comprising amortized cost, debt instruments at fair value through other comprehensive income (FVTOCI), equity instruments at FVTOCI or fair value through profit and loss account (FVTPL) and non derivative financial liabilities at amortised cost or FVtpL.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

The classification of financial instruments depends on the objective of the business model for which it is held. Management determines the classification of its financial instruments at initial recognition.

income (OCI). However, the Company recognises interest income, impairment losses & reversals and foreign exchange gain/(loss) in statement of profit and loss. On derecognition of the asset, cumulative gain or loss previously recognised in oCI is reclassified from equity to profit and loss. Interest earned is recognised under the effective interest rate (eIr) model.

a) Non-derivative financial assets

(i) Financial assets at amortized cost

A financial asset is measured at amortised cost if both of the following conditions are met:

(a) the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and

(iii) equity instruments at FVTOCI

All equity instruments are measured at fair value. Equity instruments held for trading is classified as FVTPL. For all other equity instruments, the Company may make an irrevocable election to present subsequent changes in the fair value in oCI. the Company makes such election on an instrument-by-instrument basis.

(b) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest (sppI) on the principal amount outstanding.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument, excluding dividend are recognized in OCI which is not subsequently recycled to statement of profit and loss.

They are presented as current assets, except for those maturing later than 12 months after the reporting date which are presented as noncurrent assets. Financial assets are measured initially at fair value plus transaction costs and subsequently carried at amortized cost using the effective interest method, less any impairment loss.

(iv) Financial assets at FVTPL

FVTPL is a residual category for financial assets. Any financial asset which does not meet the criteria for categorization as at amortized cost or as FVTOCI, is classified as FVTPL.

Amortised cost are represented by trade receivables, security deposits, cash and cash equivalents, employee and other advances and eligible current and non-current assets.

In addition the Company may elect to designate the financial asset, which otherwise meets amortised cost or FVTOCI criteria, as FVTPL if doing so eliminates or significantly reduces a measurement or recognition inconsistency. The Company has not designated any financial asset as FVtpL. Financial assets included within the FVtpL category are measured at fair values with all changes in the statement of profit and loss.

(ii) debt instruments at FVTOCI

A debt instrument is measured at fair value through other comprehensive income if both of the following conditions are met:

(a) the objective of the business model is achieved by both collecting contractual cash flows and selling financial assets and
(b) the asset’s contractual cash flow represent sppI
b) Non-derivative financial liabilities

(i) Financial liabilities at amortized cost

debt instruments included within FVtoCI category are measured initially as well as at each reporting period at fair value plus transaction costs. Fair value movements are recognized in other comprehensive

Financial liabilities at amortised cost represented by borrowings, trade and other payables are initially recognized at fair value, and subsequently carried

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NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

abandoned. the Company treats sale of the asset (or disposal group) to be highly probable when:

at amortized cost using the effective interest rate method.

the appropriate level of management is committed to a plan to sell the asset (or disposal group),

(ii) Financial liabilities at FVTPL

Financial liabilities at FVtpL represented by contingent consideration are measured at fair value with all changes recognised in the statement of profit and loss.

An active programmed to locate a buyer and complete the plan has been initiated (if applicable),
the asset (or disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value,

c) Investment in subsidiaries

Investment in subsidiaries are carried at cost plus additional fair value of esop granted to employees of subsidiaries net of impairment, if any.

The sale is expected to qualify for recognition as a completed sale within one year from the date of classification , and

2.15 Contributed equity

Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Equity shares are classified as equity share capital.

Incremental costs directly attributable to the issue of new shares are shown in other equity under securities premium as a deduction, net of tax, from the proceeds.

non-current assets (or disposal group) held for sale are measured at the lower of their carrying amount and the fair value less costs to sell. Assets and liabilities (or disposal group) classified as held for sale are presented separately in the Balance sheet.

2.16 earnings per share

Basic earnings per share (eps) are calculated by dividing the net profit / (loss) after tax for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. diluted earnings per share is computed by adjusting the number of shares used for basic eps with the weighted average number of shares that could have been issued on the conversion of all dilutive potential equity shares. Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date. The diluted potential equity shares have been adjusted for the proceeds receivable had the shares been actually issued at fair value i.e. average market value of outstanding shares.

Property, plant and equipment and intangible assets once classified as held for sale are not depreciated or amortized.

2.18 Rounding off amounts

All amounts disclosed in standalone financial statements and notes have been rounded off to the nearest Lakhs as permitted in schedule III of the Act, unless otherwise stated.

3 ReCenT ACCOunTInG PROnOunCeMenTS

The Ministry of Corporate Affairs has vide notification dated March 23, 2022 notified Companies (Indian Accounting Standards) Amendment Rules, 2022 which amends certain accounting standards, and are effective April 1, 2022.

the number of shares and potentially dilutive shares are adjusted for share splits and bonus shares, as appropriate. In calculating diluted earnings per share, the effects of anti dilutive potential equity shares are ignored. Potential equity shares are anti-dilutive when their conversion to equity shares would increase earnings per share or decrease loss per share.

Proceeds before intended use of property, plant and equipment- Ind AS 16, Property, Plant and Equipment
Onerous Contracts – Cost of fulfilling a contract- Ind AS 37, Provisions, Contingent Liabilities and Contingent Assets

2.17 Assets classified as held for sale

The Company classifies non-current assets (or disposal group) as held for sale if their carrying amounts will be recovered principally through a sale rather than through continuing use.

References to the conceptual framework- Ind AS 103, Business combinations
Fees included in the 10% test for derecognition of financial liabilities- Ind AS 109, Financial Instruments

The criteria for held for sale classification is regarded met only when the assets (or disposal group) is available for immediate sale in its present condition, subject only to terms that are usual and customary for sale of such assets (or disposal group), its sale is highly probable; and it will genuinely be sold, not

these amendments are not expected to have a material impact on the group in the current or future reporting periods and on foreseeable future transactions.

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

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As at March 31, 2022 2,497 125 270 3 - 11 2,906 137 - 137 3,043 As at April 01, 2021 719 5 1 3 - 1 730 139 139 869
net block As at March 31, 2023 2,386 90 235 80 28 81 2,898 136 285 421 3,319 net block As at March 31, 2022 2,497 125 270 3 - 11 2,906 137 137 3,043
Lakhs, unless otherwise stated)As at 2023 692 116 128 50 5 39 1,030 34 76 110 1,141 Lakhs, unless otherwise stated) As at 2022 581 21 62 31 - 12 707 33 33 740
March 31, March 31,
- - - - - - - - - - - - (3) - (0) - (0) (3) - - (3)
(Amount in (Amount in
deductions/ Adjustments deductions/ Adjustments
depreciation For the year 111 95 66 19 5 27 323 2 76 78 401 depreciation For the year 84 23 37 3 - 3 150 2 2 152
As at April 01, 2022 581 21 62 31 - 12 707 33 - 33 740 As at April 01, 2021 497 1 25 28 - 9 560 31 31 591
As at March 31, 2023 3,078 206 363 130 33 120 3,929 170 361 531 4,460 As at March 31, 2022 3,078 146 332 34 - 23 3,613 170 170 3,783
deductions/ Adjustments - - - - - - - - - - - deductions/ Adjustments - (4) - (0) - (0) (4) - - (4)
Gross block Additions/ Adjustments - 60 31 96 33 97 317 - 361 361 677 Gross block Additions/ Adjustments 1,862 144 306 2 - 13 2,327 - - 2,327
As at April 01, 2022 3,078 146 332 34 - 23 3,613 170 - 170 3,783 As at April 01, 2021 1,216 6 26 32 - 10 1,290 170 170 1,460
PROPeRTy, PLAnT And eQuIPMenT And CAPITAL WORK In PROGReSS Property, Plant And equipment Owned assets Buildings Computers Plant and equipmentFurniture and fixturesElectrical fittings and installations Office equipment Total (A) Leased assets Leasehold land Leasehold improvements Total (B) Total ( A + B ) Owned assets Buildings Computers Plant and equipmentFurniture and fixturesElectrical fittings and installations Office equipment Total (A) B) Leased assets Leasehold land Total (B) Total ( A + B )
4 (i) Particulars A) B) Particulars A) B) note:
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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(ii) Capital Work In Progress

Capital Work In Progress
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Capital work-in-progress	-	223
Total	-	223

(a) Ageing schedule

As at March 31, 2023

Total (a) Ageing schedule As at March 31, 2023	- 223	- 223	- 223	- 223	- 223
	(Amount in`Lakhs,unless otherwise stated)
CWIP	Amount in CWIP for aperiod of
	Less than 1 year	1-2 years	2-3 years	More than 3 years	Total
projects inprogress	-	-	-	-	-
projects temporarilysuspended	-	-	-	-	-
Total	-	-	-	-	-

As at March 31, 2022

(Amount in ` Lakhs, unless otherwise stated)

CWIP		Amount in CWIP for aperiod of	Amount in CWIP for aperiod of
	Less than 1 year	1-2 years	2-3 years	More than 3 years	Total
projects inprogress	223.00	-	-	-	223.00
projects temporarilysuspended	-	-	-	-	-
Total	223.00	-	-	-	223.00

(b) There are no projects as Capital Work in Progess as at March 31, 2022, whose completion is overdue or cost of which has exceeds in comparison to its original plan.

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

==> picture [287 x 622] intentionally omitted <==

----- Start of picture text -----

As at March 31, 2022 - - - - As at March 31, 2021 - - - -
lock lock
b b
net As at March 31, 2023 720 10 731 731 net As at March 31, 2022 - - - -
27 1 28 28 - - - -
Lakhs, unless otherwise stated)As at 2023 Lakhs, unless otherwise stated) As at 2022
March 31, March 31,
- - - - - -
(Amount in (Amount in
deductions/ Adjustments deductions/ Adjustments
eciation eciation
depr For the year 27 1 28 28 depr For the year - - - -
As at April 01, 2022 - - - - As at April 01, 2021 - - - -
As at March 31, 2023 747 11 758 758 As at March 31, 2022 - - - -
lock deductions/ Adjustments - - - - lock deductions/ Adjustments - - - -
b b
Gross Additions/ Adjustments 747 11 758 758 Gross Additions/ Adjustments - - - -
As at April 01, 2022 - - - - As at April 01, 2021 - - - -
wned assets oftwares pplications otal (A) wned assets oftwares pplications otal (A)
InTAnGIBLe ASSeTS And InTAnGIBLe ASSeTS undeR deVeLOPMenT Intangible Assets O s A T Total ( A ) O s A T Total ( A )
5 (i) Particulars )A Particulars )A note: (a) Intangible asset as at March 31, 2023 and March 31, 2022 includes software’s being developed internally. (b) The Company has not revalued its Intangible Assets during the current year and previous year.
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Management Review

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Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(ii) Intangible assets under development

Intangible assets under development
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Intangible assets under development	70	0
Total	70	0
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2022	As at March 31, 2021
Intangible assets under development	-	-
Total	-	-

(a) Ageing schedule

As at March 31, 2023

Total (a) Ageing schedule As at March 31, 2023	- -	- -	- -	- -	- -
	(Amount in`Lakhs,unless otherwise stated)
CWIP	Amount in CWIP for aperiod of
	Less than 1 year	1-2 years	2-3 years	More than 3 years	Total
projects inprogress	45.00	25.48	-	-	70.48
projects temporarilysuspended	-	-	-	-	-
Total	45.00	25.48	-	-	70.48

As at March 31, 2022

(Amount in ` Lakhs, unless otherwise stated)

CWIP		Amount in CWIP for aperiod of	Amount in CWIP for aperiod of	Amount in CWIP for aperiod of
	Less than 1 year	1-2 years	2-3 years	More than 3 years	Total
projects inprogress	-	-	-	-	-
projects temporarilysuspended	-	-	-	-	-
Total	-	-	-	-	-

(b) There are no projects as Intangible assets under development as at March 31, 2023, whose completion is overdue or cost of which has exceeds in comparison to its original plan.

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

6 RIGHT OF uSe ASSeTS

==> picture [500 x 590] intentionally omitted <==

----- Start of picture text -----

(Amount in Lakhs, unless otherwise stated) Particulars As at As at March 31, 2023 March 31, 2022 opening Balance 554 - Add: Additions during the year 444 591 Less: Amortization during the year (236) (37) Total 762 554 7 FInAnCIAL ASSeTS- nOn CuRRenT InVeSTMenTS (Amount in Lakhs, unless otherwise stated)
Particulars As at As at
March 31, 2023 March 31, 2022
Investment in equity Instruments (unquoted)
In Subsidiary Companies (at cost)
20,735 equity share of 10 each fully paid up held in K2V2 Technologies 1,800 1,800 private Limited 1,20,00,000 equity share of 10 each fully paid up held in Aurum Softwares 600 600
and solutions private Limited
40,00,000 equity share of 10 each fully paid up held in Aurum RealTech 400 200 services private Limited 13,868 equity share of USD 0.005 each fully paid up held in Monk Tech 768 768 Labs pte. Limited. 81,021 equity shares of 10 Each fully paid up held in Helloworld 3,907 -
technologies India private Limited
10,000 equity share of 10 each fully paid up held in Aurum Analytica 1,924 - private Limited (formerly known as Blink Advisory services private Limited) 33,80,000 equity share of 10 each fully paid up held in Intergrow Asset 999 -
Management private Limited
In Associate Companies (at cost)
33,80,000 equity share of 10 each fully paid up held in Intergrow Asset - 999 Management private Limited Total 10,397 4,367 Aggregate book value of: Unquoted investments 10,397 4,367 Aggregate impairment of: - - Unquoted investments Disclosure pursuant to Ind AS 27 ‘Separate Financial Statements’ for investment in equity instruments of subsidiary companies and associate: (Amount in lakhs, unless otherwise stated)
name of entity Principal place of Proportion of voting rights
business held by the Company
As at As at
March 31, 2023 March 31, 2022
K2V2 Technologies Private Limited India 44.44% 44.44%
Aurum softwares and solutions private Limited India 100.00% 100.00%
Aurum realtech services private Limited India 100.00% 100.00%
Monk tech Labs pte. Ltd. singapore 40.00% 40.00%
Helloworld technologies India private Limited India 100.00% -
Intergrow Asset Management private Limited India 49.13% 49.13%
Aurum Analytica private Limited (formerly known as Blink India 100.00% -
Advisory services private Limited)
----- End of picture text -----

Disclosure pursuant to Ind AS 27 ‘Separate Financial Statements’ for investment in equity instruments of subsidiary companies and associate:

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

8 nOn-CuRRenT FInAnCIAL ASSeTS - LOAnS

nOn-CuRRenT FInAnCIAL ASSeTS - LOAnS
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
unsecured, consideredgood
Loans to Related Parties(Refer Note 40(D))	2,237	-
Total	2,237	-

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----- Start of picture text -----

Type of Borrower As at March 31, 2023 As at March 31, 2022
Amount % of Total Amount % of Total
outstanding as outstanding
at the balance
sheet date
promoter - 0% - 0%
directors - 0% - 0%
KMps - 0% - 0%
related parties 2,237 100% - 0%
-
Total of Loan in the nature of Loan (note 8) 2,237
----- End of picture text -----*

9 nOn-CuRRenT FInAnCIAL ASSeTS - OTHeRS

nOn-CuRRenT FInAnCIAL ASSeTS - OTHeRS
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Financials Intruments at Ammortized Cost
securitydeposits	331	104
Total	331	104

10 InCOMe TAX ASSeTS (neT)

InCOMe TAX ASSeTS (neT)
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Advance income tax (net of provision of tax`73,619 Lakhs)<br>(March 31,2022:`73,619 Lakhs)	1,035	936
Total	1,035	936

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

12 FInAnCIAL ASSeTS CuRRenT - InVeSTMenTS

FInAnCIAL ASSeTS CuRRenT - InVeSTMenTS	FInAnCIAL ASSeTS CuRRenT - InVeSTMenTS
		(Amount in`Lakhs,unless otherwise stated)
Particulars		As at March 31, 2023	As at March 31, 2022
Investments carried at fair value through proft and loss(FVTPL)
A. Investments in Mutual Funds(Quoted)
Aditya Birla sun Life MoneyManager Fund		-	2,228
Investment in Integrow real estate special situation Fund		1,500	-
Total(A)		1,500	2,228
Investments measured at amortized cost
B. Other investments - unquoted
Fixed deposit with Housingdevelopment Finance Corporation Limited		1,100	1,000
Total(B)		1,100	1,000
Total(A+B)		2,600	3,228
Aggregate value of quoted and unquoted investments is as follows:		(Amount in`Lakhs,unless otherwise stated)
Particulars		As at March 31, 2023	As at March 31, 2022
Aggregate book value of:
Quoted investments		1,500	2,228
Unquoted investments		1,100	1,000
Aggregate market value of:
Quoted investments		1,500	2,228
Aggregate impairment of:
Quoted investments		-	-
unquoted investments		-	-
details of investments in Mutual Funds (Quoted) designated at FVTPL:
name of entity	Face Value (in`)	number of units
		As at March 31, 2023	As at March 31, 2022
Aditya Birla sun Life MoneyManager Fund	100/-	-	5,05,888

12.1. Aggregate value of quoted and unquoted investments is as follows:

12.2. details of investments in Mutual Funds (Quoted) designated at FVTPL:

13 TRAde ReCeIVABLe

11 OTHeR nOn-CuRRenT ASSeTS

OTHeR nOn-CuRRenT ASSeTS
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
prepaid expenses	56	10
Lease equalization	167	13
Total	223	23

TRAde ReCeIVABLe
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
unsecured
Consideredgood(Refer note 40(D)(i))	288	53
Total	288	53
undisputed trade receivables consideredgood	288	53
Undisputed Trade receivables which have signifcant increase in credit risk	-	-
Undisputed Trade receivables – Credit impaired	-	-
disputed trade receivables consideredgood	-	-
Disputed Trade receivables which have signifcant increase in credit risk	-	-
Disputed Trade receivables – Credit impaired	-	-
Total	288	53

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Corporate Overview

Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|
|Particulars|As at
March 31, 2023|As at
March 31, 2022|
|Less: Allowance for bad and doubtful debts(disputed + undisputed)|-|-|
|Total trade receivables|288|53|
|undisputed Trade receivables consideredgood ageing schedule|||
|not due|99|27|
|Less than 6 Months|80|26|
|6 Months - 1 Year|93|-|
|1-2 Years|16|-|
|Total|288|53|

14 CASH And CASH eQuIVALenTS

CASH And CASH eQuIVALenTS
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Cash and cash equivalents consists of the followings:
Balances with banks
Current accounts	447	294
Fixed deposit with maturityfor less than 3 months	1,072	2,200
Total	1,519	2,494

15 BAnK BALAnCeS OTHeR THAn CASH And CASH eQuIVALenTS

BAnK BALAnCeS OTHeR THAn CASH And CASH eQuIVALenTS
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
In fxed deposit with maturity for more than 3 months but less than 12 months
restricted	-	-
others	1,203	2,182
earmarked balances with banks
unpaid dividend account	779	809
Total	1,982	2,991
CuRRenT FInAnCIAL ASSeTS - OTHeRS	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Financials Intruments at Ammortized Cost
Interest accrued on fxed deposits	55	42
Fixed deposit with orginal maturityfor more than 12 months.	233	-
securitydeposits-rent	1	3
Total	289	45

16 CuRRenT FInAnCIAL ASSeTS - OTHeRS

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

17 OTHeR CuRRenT ASSeTS

OTHeR CuRRenT ASSeTS
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Balance with statutoryauthorities	23	25
Advances to vendors	22	104
unbilled revenue	131	31
other receivables	175	0
prepaid expenses	46	18
others (refer below note)	248	248
Total	645	426

note: share of stamp duty 248 Lakhs,(March 31, 2022: 248 Lakhs) against demand on Mastek Limited. by the office of the superintendent of Stamps, Gandhinagar, for implementation of the demerger scheme, paid under protest.

18 eQuITy SHARe CAPITAL

eQuITy SHARe CAPITAL
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
The Company has only one class of equity share capital having a par value of`5per share.
Authorized
20,00,00,000(March 31,2022: 20,00,00,000)EquityShares of`5/- each*	10,000	10,000
Total	10,000	10,000
Issued, subscribed andpaid up
2,86,29,689(March 31,2022: 2,86,29,689)equityshares of`5/- each fully paid	1,431	1,431
4,29,44,533 (March 31, 2022: Nil) equity share of`5/-each fully paid - up`1.5% paid - up	537	-
Total	1,968	1,431

*The Board of Directors of the Company in its meeting held on December 17, 2021 approved the increase in Authorized share Capital of the Company to 10,000 Lakhs consisting of 20,00,00,000 equity shares of 5/- each. this has been approved by the Shareholders of the Company through a postal ballot on January 21, 2022.

(a) Reconciliation of equity shares outstanding at the beginning and at the end of the year

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|---|---|
|Particulars|As at March 31, 2023||As at March 31, 2022||
||no. of shares|Amount|no. of shares|Amount|
|outstandingat the beginningof theyear|2,86,29,689|1,431|2,86,29,689|1,431|
|Add : shares issued on right issue|4,29,44,533|537|-|-|
|Outstanding at the end of the year|7,15,74,222|1,968|2,86,29,689|1,431|

(b) Rights, preferences and restrictions attached to shares:

Equity Shares: The Company has only one class of equity shares having par value of ` 5/- per share. each shareholder is entitled to one vote per share held and carry a right to dividend. Dividend if any declared, is payable in Indian rupees.

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Management Review

Governance Financial Statements

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

on December 17, 2021. The terms of payment of Issue price were 25% on application and balance in one or more calls as may be decided by the Board / Committee of the Board from time to time. On April 08, 2022, the Rights Issue committee “the Committee” approved Letter of Offer to be filed with Securities Exchange Board of India (SEBI) and finalised April 14, 2022 as the record date for the purpose of determining the equity shareholders who are eligible to apply for the equity shares in the Issue. After receiving approval from SEBI, the Issue was open during April 26, 2022 to May 10, 2022. The number of shares applied under the Issue was 4,56,34,534 partly paid equity shares which was 106.26 % of the Issue size. The shareholders have been allotted 4,29,44,533 partly paid equity shares at a price of 20/- (including a premium of 18.75/- per equity share) each on May 17, 2022 on proportionate basis. The Company received BSE and NSE listing approval on May 18, 2022 and May 19, 2022 respectively. The Company has made an application for trading approval from Bse and nse.

Out of the total allotment of 4,29,44,533 partly paid equity shares, Aurum Realestate Developers Private Limited (formerly known as Aurum Platz IT Private Limited) was allotted 2,60,00,000 partly paid equity shares, totaling to 3,60,32,859 partly paid equity shares representing 50.34% of the voting share capital of the Company.

the rights issue proceeds are utilised in accordance with the objects of the issue as stated in the offer document. details of utilisation of rights issue proceeds are given below:

|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|
|Particulars|March 31, 2023|
|Source of Funds||
|proceeds from issue|8,589|
|Interest earned|59|
|utilisation of Funds||
|payment towards issue expenses|397|
|payment towardsproduct development
|287|
|Payment towards identifed Investments|5,698|
|payment towards fundinginorganicgrowth initiavites andgeneral corporatepurpose|1,850|
|unutilised funds|415|

(c) details of shares held by shareholders holding more than 5% of the aggregate shares in the Company:

==> picture [481 x 81] intentionally omitted <==

----- Start of picture text -----

name of the shareholder As at March 31, 2023 As at March 31, 2022
number of % of holding in number of % of holding in
shares the class shares the class
Aurum realestate developers private Limited 3,60,32,859 50.34% 1,00,32,859 35.04%
(formerly known as Aurum platz It private
Limited)
Total 3,60,32,859 50.34% 1,00,32,859 35.04%
----- End of picture text -----

(d) Change in shareholding of promoters are disclosed below:

Total 3,60,32,859 Change in shareholding of promoters are disclosed below:	50.34%	1,00,32,859	35.04%
	number of shares	% Total shares	% Changes during the year
As at March 31, 2023
Aurum realestate developers private Limited (formerly known as Aurum platz It private Limited)	3,60,32,859	50.34%	15.30%
As at March 31, 2022
Aurum realestate developers private Limited (formerly known as Aurum platz It private Limited)	1,00,32,859	35.04%	35.04%

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(e) no class of shares have been issued as bonus shares or for consideration other than cash by the Company since its incorporation.
(f) Shares reserved for issue under options as at March 31, 2023 and March 31,2022, were 26,40,000 and 13,60,000 (refer note 38)
(g) During the year ended March 2021, the Board of Directors of the Company at its meeting held on October 8, 2020, approved a proposal to buyback of upto 74,70,540 fully paid up equity shares of face value of 5 per share of the Company for an aggregate amount not exceeding 63,126 Lakhs being 24.78% of the total paid up equity share capital at 845 per equity share, which was approved by the shareholders on November 2, 2020 by means of a special resolution in extra ordinary General Meeting. A Letter of offer was made to all eligible shareholders. the Company bought back 15,74,088 equity shares out of the shares that were tendered by eligible shareholders, paid 13,301 Lakhs to the shareholders and extinguished the equity shares on December 23, 2020.
(h) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company in proportion to the number of equity shares held by them.

19 OTHeR eQuITy

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----- Start of picture text -----

(Amount in Lakhs, unless otherwise stated) Particulars As at As at March 31, 2023 March 31, 2022 (A) employee Stock options outstanding account (eSOOA) opening balance 86 - Add: employee stock option scheme compensation 92 86 Add: employee stock option scheme compensation of subsidiaries 169 - Closing balance 347 86 (B) Securities premium opening balance 13,548 13,548 Add : Addition on account of right Issue 7,664 - Closing balance 21,212 13,548 (C) Capital redemption reserve opening balance 79 79 Add : transferred from securities premium account on account of - - buyback of shares Closing balance 79 79 (d) Retained earnings opening balance 1,624 2,476 Add / (Less) : Net Profit / (Loss) for the current year (1,124) (852) Add / (Less) : remeasurement Gains / (losses) on gratuity plan 2 (2) Closing balance 502 1,624 Total 22,140 15,337 20 nOn - CuRRenT FInAnCIAL LIABILITIeS (Amount in Lakhs, unless otherwise stated)
Particulars As at As at
March 31, 2023 March 31, 2022
Secured Loans
Borrowings
term loan from Bank (refer notes below) 433 -
Total 433 -
----- End of picture text -----

20 nOn - CuRRenT FInAnCIAL LIABILITIeS

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

20.01 non - current Financial Liabilities

(a) Term loan from Bank of Baroda was taken during the financial year 2022–23 and carries interest @ 9.10% p.a. The loan is repayable in 180 instalments of ` 3,00,000/- each along with interest, from the date of loan.
(b) The Company has obtained term loan from Bank of Baroda during the financial year 2022–23. As per the Loan Agreement, the said Loan was taken for the Purpose of General Corporate purpose. The Company has used such borrowings for the purposes as stated in the loan agreement. the Company has not defaulted on any loans payable.

21 OTHeR nOn-CuRRenT FInAnCIAL LIABILITIeS

OTHeR nOn-CuRRenT FInAnCIAL LIABILITIeS
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
security deposits	129	24
Total	129	24

22 OTHeR nOn-CuRRenT LIABILITIeS

OTHeR nOn-CuRRenT LIABILITIeS
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
otherpayables	56	10
Total	56	10

23 eMPLOyee BeneFIT OBLIGATIOnS - nOn CuRRenT

eMPLOyee BeneFIT OBLIGATIOnS - nOn CuRRenT
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Provision for employee benefts(Refer note 37(B))
provision for gratuity (funded)	6	3
Total	6	3

24 TRAde PAyABLeS

TRAde PAyABLeS
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
total outstandingdues of micro enterprises and small enterprises*	-	-
total outstanding dues of creditors other than micro enterprises and small enterprises	109	100
Total	109	100

*Based on the information available with the Company, there are no outstanding dues and payments made to any supplier of goods and services beyond the specified period under Micro, Small and Medium Enterprises Development Act, 2006 [MSMED Act]. There is no interest payable or paid to any suppliers under the said Act.

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|
|Particulars|As at
March 31, 2023|As at
March 31, 2022|
|other than MsMe|109|100|
|disputed dues - MsMe|-|-|
|disputed dues- other than MsMe|-|-|
|Total|109|100|
|Trade payable ageing schedule for other than MSMe|(Amount in`Lakhs,unless otherwise stated)||
|Particulars|As at
March 31, 2023|As at
March 31, 2022|
|unbilled|-|98|
|not due|-|-|
|Less than 1year|109|2|
|1-2 Years|-|0|
|2-3 Years|-|-|
|More than 3 Years|-|-|
|Total|109|100|

note:- there are no disputed trade payables

25 OTHeR FInAnCIAL LIABILITIeS - CuRRenT

OTHeR FInAnCIAL LIABILITIeS - CuRRenT
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Capital creditors	121	119
employee related payables	49	38
Interest accrued but not due on Borrowing	3	-
provision for other expenses	336	310
unpaid special dividend	779	809
security deposits	-	6
other payables	-	3
Total	1,288	1,285

26 OTHeR CuRRenT LIABILITIeS


	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
statutoryduespayable	33	8
Total	33	8

27 eMPLOyee BeneFIT OBLIGATIOnS - CuRRenT

130

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

28 ReVenue FROM OPeRATIOnS

ReVenue FROM OPeRATIOnS
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Revenue from Information Technology Services (Refer note 40 (C)(i))	2	140
revenue from Instahome business	130	-
Rent income (Refer note 40 (C)(ii) & 48)	715	25
reimbursement of expenses from customers	76	-
Total	923	165

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

32 FInAnCe COSTS

FInAnCe COSTS
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Interest on lease liabilities	76	12
Interest on Borrowing	13	-
Interest on security deposits	7	0
Total	96	12

33 dePReCIATIOn And AMORTIzATIOn eXPenSeS

29 OTHeR InCOMe

OTHeR InCOMe
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Interest income on fxed deposits	310	146
Interest income on security deposits	16	-
Interest Income on Inter-Company Loans (Refer note 40 (C)(iv))	81	-
Interest income on Debenture (Refer note 40 (C)(v))	7	-
Proft on sale and revaluation of current investments (mutual funds)	7	321
Reversal of compensated absences expenses (Refer note 40 (C)(i))	0	22
support service income	156	-
Miscellaneous income	86	1
Total	663	490

30 COST OF GOOd SOLd

COST OF GOOd SOLd
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Cost of Instahome property	124	-
Total	124	-

31 eMPLOyee BeneFIT eXPenSeS

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|
|Particulars|year ended
March 31, 2023|year ended
March 31, 2022|
|Salaries, wages, bonus and other allowances|771|649|
|Contribution to provident fund, ESI and other funds (Refer note 37 (A))|32|14|
|Gratuity expenses (refer note 37 (B))|6|6|
|employee stock option scheme compensation (refer note 38)|92|86|
|staff welfare expenses|2|1|
|Total|903|756|

note:

Employee benefit expenses for the year ended March 31, 2022 includes severance pay of ` 253 Lakhs paid to Mr. Farid Kazani (ex Managing director) on his resignation due to change in management.

dePReCIATIOn And AMORTIzATIOn eXPenSeS
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Depreciation on Depreciation on Property, plant and equipment (Refer note 4)	401	152
Amortisation on intangible assets	28
depreciation on right to use assets (refer note 6)	236	37
Total	665	189

34 OTHeR eXPenSeS


	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
travelling and conveyance	27	6
professional fees (refer note (a) below)	317	241
Hardware and software expenses (Refer note 40 (C)(vi))	114	36
Brokerage and Commission	12	-
repairs and maintenance
Buildings (Refer note 40 (C)(vii))	164	83
others	29	10
rent	11	10
Advertisement and publicity	103	48
Communication charges	13	3
rates and taxes	71	183
Insurance	7	10
electricity	213	70
Membership and subscription	16	2
printing and stationery	4	2
stock exchange listing fees	31	21
Csr expenditure	23	41
seminar and Conference	14	-
Miscellaneous expenses	28	12
Total	1,197	778

*note : (a) the following is the break-up of auditors remuneration (exclusive of Gst)

Payment to auditors for:

Payment to auditors for:
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
i. statutory audit fees (Including interim and special purpose audit)	25	21
ii. Quarterly limited review	5	6
iii. Other matters-other professional and certifcation fees	3	1
Total	33	28

132

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Corporate Overview

Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

35 InCOMe TAX

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----- Start of picture text -----

(Amount in ` Lakhs, unless otherwise stated)
Particulars year ended year ended
March 31, 2023 March 31, 2022
(a) deferred tax relates to the following:
deferred tax assets
On provision for employee benefts 11 15
On disallowance u/s 35DD of Income Tax Act, 1961 16 16
on business loss 518 242
On property, plant and equipment 11 -
Total 555 273
deferred tax liabilities
on fair valuation gain/(losses) on lease liabilities 26 17
On property, plant and equipment - 1
Total 26 18
deferred tax asset / (liability), net 529 254
(b) Reconciliation of deferred tax assets/ (liabilities) (net):
opening balance 255 26
Tax (liability)/asset recognized in Statement of Proft and Loss 275 228
On re-measurement gain/(losses) of post employment beneft obligation (1) 0
Closing balance 529 255
(c) deferred tax assets / (liabilities) to be recognized in Statement of
Proft and Loss :
deferred tax liability (31) (16)
deferred tax asset 306 244
Total 275 228
(d) Income tax expense:
Current tax - -
deferred tax (income) / charge (275) (228)
Total (275) (228)
(e) Reconciliation of tax charge:
(Loss) / Proft before tax (1,399) (1,080)
statutory Income tax rate 25.17% 25.17%
Income tax (credit) / expense on the same at tax rates applicable (352) (272)
tax effects of :
Items not deductible to tax 69 45
Impact of lower effective tax rates on rent income 8 (1)
Income tax (credit) (275) (228)
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note:

During the year ended March 31, 2023, Company has recognised deferred tax asset of ` 275 Lakhs mainly relating to unused tax losses that are considered to be able to offset against the Company’s taxable profits expected to arise in the subsequent years. Management has based the assessment on the basis of business plan of improved business performance largely due to organisation restructuring and hiring of skilled resources to take business to the next level.

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

36 eARnInGS PeR SHARe

Basic earnings per share amounts are calculated by dividing the (loss)/profit for the year attributable to equity holders by the weighted average number of equity shares outstanding during the year.

Diluted earnings per share amounts are calculated by dividing the (loss)/profit attributable to equity holders after adjusting by the weighted average number of equity shares outstanding during the year plus the weighted average number of equity shares that would be issued on outstanding stock options.

the components of basic and diluted earnings per share for total operations are as follows:

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars
|year ended
March 31, 2023|year ended
March 31, 2022|
|(a) Net (loss)/proft for the year attributable to equity shareholders|(1,124)|(852)|
|(b) Weighted average number of outstanding equity shares considered
for basic ePS|3,83,87,607|2,86,29,689|
|Add : Effect of dilutive potential equity shares arising from outstanding
employee stock options|14,75,215|1,38,776|
|number of shares considered for diluted eps|3,98,62,822|2,87,68,465|
|(c) earnings per share (Face value per share**5/- each(Previous year** 5/- each))|||
|Basic ()|(2.93)|(2.80)| |diluted ()**|(2.93)|(2.80)|

the weighted average number of shares takes into account the weighted average effect of changes arising from issue of new shares and esop transactions during the year.

** since the effect is anti dilutive. diluted earnings per share will be same as basic earning per share

37 eMPLOyee BeneFITS

eMPLOyee BeneFITS
	(Amount in`Lakhs, unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
(A) Defned contribution plans
During the year, the Company has recognized the following amounts in the Statement of Proft and Loss (Refer note 31)
Contribution to provident fund	25	10
Contribution to superannuation fund	2	2
Contribution to national pension scheme	5	2
other Contribution	0	-
Total	32	14

(B) Defined benefit plans - Gratuity

Liability for employee defined benefits plan has been determined by an Actuary, appointed for the purpose, in conformity with the principles set out in the Ind AS -19, “Employee Benefits”, the details of which are as under. the liability is fully funded through and approved trust with Life Insurance Corporation of India.

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|year ended
March 31, 2023|year ended
March 31, 2022|
|i) Actuarial assumptions|||
|
discount rate (per annum)|7.45%|6.93%|
|
rate of increase in salary|7.00%|7.00%|
|
expected average remaining working lives of employees (years)|9.24|8.97|
|
Attrition rate (across various age groups)|0-22%|0-22%|
|
expected rate of return on plan assets|7.45%|6.93%|

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

ii) Changes in the present value of defined benefit obligation

ii) Changes in the present value of defned beneft obligation
	(Amount in`Lakhs, unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
present value of obligation at the beginning of the year	22	66
Current service cost	6	6
Interest on defned beneft obligation	1	4
Actuarial loss on obligations	(4)	1
Benefts paid	-	(55)
Present value of obligation at the end of the year	25	22

iii) Change in fair value of assets

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|year ended
March 31, 2023|year ended
March 31, 2022|
|Fair value of plan assets at the beginning of the year|19|58|
|
expected return on plan assets|1|4|
|
Actuarial (loss) / gain on plan assets|-|(1)|
|
employer's contribution
|-|14|
|Benefts paid|-|(55)|
|Actuarial loss|(1)|(1)|
|Fair value of plan assets at the end of the year|19|19|

iv) Expense recognized as employee benefits expense in the Statement of Profit and Loss

v) Income recognized as OCI in the Statement of Profit and Loss

Interest on net defned beneft liability / (asset) Total v) Income recognized as OCI in the Statement of Proft and Loss	0 0 6 6	0 0 6 6
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
remeasurements during the year due to:
Changes in fnancial assumptions	(1)	0
experience adjustments	(3)	1
Actual return on plan assets less expected interest on plan assets	1	1
Total	(3)	2

vi) Assets and liabilities recognized in the Balance Sheet:

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars
|year ended
March 31, 2023|year ended
March 31, 2022|
|Present value of funded defned beneft obligation|25|22|
|
Fair value of plan assets|(19)|(19)|
|
net liability recognized in Balance Sheet
|6|3|
|
Disclosed as Employee beneft obligation (Refer Note-23)|6|3|
|
vii) expected contribution to the fund in the next year|0
1||

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

viii) Sensitivity Analysis

Gratuity is a lump sum plan and the cost of providing these benefits is typically less sensitive to small changes in demographic assumptions. The key actuarial assumptions to which the benefit obligation results are particularly sensitive to are discount rate and expected salary increase. A quantitative sensitivity analysis for significant assumptions is furnished below :

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|---|---|
|Impact on defned beneft obligation|As at March 31, 2023||As at March 31, 2022||
|discount rate|In (%)|In|**In (%)**|**In**|
|0.5% increase|(4.52)%|22|(4.26)%|20|
|0.5% decrease|4.87%|25|4.60%|21|
|rate of increase in salary|||||
|0.5% increase|4.87%|25|4.58%|21|
|0.5% decrease|(4.56)%|22|(4.28)%|20|

ix) Maturity profile of defined benefit obligations

year ended March 31,

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2023 - 1
2024 0 1
2025 0 1
2026 0 1
2026 onwards 1 40
2028 onwards 56 -
(C) Defined benefit plans - Leave encashment
(Amount in ` Lakhs, unless otherwise stated)
Particulars year ended year ended
March 31, 2023 March 31, 2022
i) Assets and liabilities recognized in the Balance Sheet:
opening Balance 3 31
(Credit) / Charged during the year (Refer note 29 and 31) (0) (22)
Amount paid during the year (2) (6)
net liability recognised in Balance Sheet - 3
Disclosed as Employee benefit obligations - Non current - -
Disclosed as Employee benefit obligations - current (Refer note 27) - 3
----- End of picture text -----

38 eMPLOyee STOCK OPTIOn SCHeMe

(a) nature and extent of employee stock option scheme that existed during the year:

During the previous year, on approval by the Nomination and Remuneration Committee (“Committee”) and subsequently by the Board of the directors of the Company on October 30, 2021, the Company introduced the Employee Stock Option Plan “ Majesco Employee Stock Option Plan 2021” (ESOP 2021) for granting 77,00,000 stock options to the employees, each option representing one equity share of the Company. The exercise price is determined by the Committee and such price may be the face value of the share from time to time or may be the market price or any other price as may be decided by the Committee and will be governed by the securities and exchange Board of India (SEBI) (Share Based Employee Benefits) and accounted in accordance with Ind AS 102 “Share Based Payments”.

During the year, the Company has received Inprinciple approval from BSE Limited and National Stock Exchange of India Limited for listing of upto a maximum of 77,00,000 equity shares of ` 5/- each of Aurum proptech Limited to be allotted pursuant to Aurum PropTech Employee Stock Option Plan 2021.

the nomination and remuneration Committee of the Board of the Company vide circular resolutions passed on December 13, 2022 has approved the grants of 23,01,292 stock options to Directors and employees of Company and its subsidiaries under the “Aurum PropTech Employee Stock Option Plan 2021”. The first vesting of the stock option shall happen only on completion of one year from the date of grant and the option are excersiable within three years from the date of vesting. During the year, the Company granted total 22,94,292 Lakh options under ‘Aurum PropTech Employee Stock Option Plan 2021’ to its eligible employees, out of which 12.80 Lakh options were in lieu of options

136

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Corporate Overview

Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

earlier granted. Fair value of these options as on the date of grant is determined using Black - scholes valuation technique by an independent third-party valuer.options have been granted to the employees and carried over at a fair value.

For the year ended March 31, 2023 and March 31, 2022 the fair value of the options both vested and unvested options granted to the employees of the Company was determined and the incremental amount of 92 Lakhs and 86 Lakhs respectively were charged to the “Employee benefits expenses” with a corresponding credit to “Employee stock options outstanding account”.

For the year ended March 31, 2023 and March 31, 2022 similar amount relating to employees of its subsidiaries amounting to 169 Lakhs and Nil Lakhs respectively was debited to the “Investment in subsidiary” account with the corresponding credit to “employee stock options outstanding account”.

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|---|---|
|Impact on defned beneft obligation|As at March 31, 2023||As at March 31, 2022||
||number|WAeP()|**number**|**WAeP**()|
|options outstandingat beginningof theyear|13,60,000|
77.00|-|-|
|Add:|||||
|optionsgranted duringtheyear|9,34,292|69.22|13,60,000|77|
|Less:|||||
|options exercised duringtheyear|-|-|-|-|
|options lapsed duringtheyear|90,000|77.00|-|-|
|options cancelled duringtheyear|-|-|-|-|
|options outstanding at the end of the year|22,04,292|68.90|13,60,000|77|
|options exercisable at the end of the year|-|-|-|-|

the fair value of each option is estimated on the date of grant using the Black scholes model. the following tables list the inputs used on the date of grant for the years ended:

list the inputs used on the date of grant for the years ended:
Particulars	As at March 31, 2023	As at March 31, 2022
Weighted average fair value of the options at the grant dates (`)	74	37.94
Dividend yield (%)	nil	nil
Risk free interest rate (%)	7.19%	5.98%
expected life of share options (years)	3.60 Years	5 years
Expected volatility (%)	48.81%	41.36%
(b) stock options exercised during the year :
number of options exercised during the year	-	-
Weighted average share price at the date of exercise (`)	-	-

(c) For stock options outstanding at the end of the year, the range of exercise prices and weighted average remaining contractual life (vesting period and exercise period)

|||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|---|
|Particulars|Options
Outstanding|
Weighted Average
exercise Price (**)**|**Weighted Average** **remaining** **Contractual Life** **(years)**| |**As at March 31, 2023**|||| |**Range of exercise price (**)||||
|5-80|22,04,292|
68.90|3.00|
|As at March 31, 2022||||
|Range of exercise price (`)|13,60,000|
77.00|3.00|

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(d) Information on stock options granted during the year ended:

Information on stock options granted during the year ended:	Information on stock options granted during the year ended:	Information on stock options granted during the year ended:
(Amount in`Lakhs, unless otherwise stated)
Particulars	March 31, 2023	March 31, 2022
number of options granted during the year	9,34,292	13,60,000
option pricing model used	Black scholes	Black scholes
Weighted average share price (`)	124.80	85.75
exercise price (`)	5 to 80	77
Expected volatility (%)	48.81%	41.36%
option life (vesting period and exercise period)	3.60 Years	5 Years
Dividend yield (%)	nil	nil
Risk free interest rate (%)	7.19%	5.98%

(e) Effect of share-based payment plan on the Balance Sheet and Statement of Profit and Loss :

Effect of share-based payment plan on the Balance Sheet and Statement of Proft and Loss :	Effect of share-based payment plan on the Balance Sheet and Statement of Proft and Loss :	Effect of share-based payment plan on the Balance Sheet and Statement of Proft and Loss :
(Amount in`Lakhs, unless otherwise stated)
Particulars	March 31, 2023	March 31, 2022
Employee stock options outstanding account (Refer note 19A)	347	86
employee stock compensation expenses (refer note 31)	92	86

39 LeASe

the Company’s lease asset classes consist of leases for land and building. Leases of land and buildings generally have lease terms of 5 years. the Company’s obligations under its leases are secured by the lessor’s title to the leased assets.

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|Category of ROu Asset||
||
Land and Building|
Total|
|Balance as at April 1 2021|
-|-|
|,
recognized during the year|
568|

568|
|
Interest of rou Asset|12|
12|
|payments during the year|(50)|(50)|
|
Written back during the year|10|
10|
|
revaluation of lease liabilities|-|-|
|effect of remeasurement / other adjustments|-|-|
|
Balance as at 31 March 2022|540|540|
|recognized during the year|428|
428|
|
Interest of rou Asset|76|
76|
|payments during the year|(190)|(190)|
|Written back during the year|-|-|
|revaluation of lease liabilities|-|-|
|effect of remeasurement / other adjustments|(59)|(59)|
|
Balance as at 31 March 2023|795|
795|

(a) Break-up of current and non-current lease liabilities

ct of remeasurement / other adjustments (59) (59) nce as at 31 March 2023 795 795 Break-up of current and non-current lease liabilities	ct of remeasurement / other adjustments (59) (59) nce as at 31 March 2023 795 795 Break-up of current and non-current lease liabilities	ct of remeasurement / other adjustments (59) (59) nce as at 31 March 2023 795 795 Break-up of current and non-current lease liabilities
(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Current Lease Liabilities	205	116
non-current Lease Liabilities	590	425

(b) Maturity analysis of lease liabilities

Maturity analysis of lease liabilities	Maturity analysis of lease liabilities	Maturity analysis of lease liabilities
(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Less than oneyear	205	116
One to fveyears	590	425
More than fveyears	-	-
Total	795	540

139

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Corporate Overview

Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(c) Amounts recognized in statement of Profit and Loss account

Amounts recognized in statement of Proft and Loss account	Amounts recognized in statement of Proft and Loss account	Amounts recognized in statement of Proft and Loss account
(Amount in`Lakhs, unless otherwise stated)
Particulars	March 31, 2023	March 31, 2022
Interest on Lease Liabilities	76	12
Variable lease payments (not included in the measurement of lease liabilities)	-	-
Income from subleasing	-	-
Low-value leases expensed	-	-
short-term leases expensed	11	10
total	86	22

(d) Amounts recognized in statement of Cash Flows

mounts recognized in statement of Cash Flows	mounts recognized in statement of Cash Flows	mounts recognized in statement of Cash Flows
(Amount in`Lakhs,unless otherwise stated)
Particulars	March 31, 2023	March 31, 2022
Cash outfow for leases	190	50

Lease where Company is a lessor

Lease where Company is a lessor	Lease where Company is a lessor	Lease where Company is a lessor
(Amount in`Lakhs,unless otherwise stated)
Particulars	March 31, 2023	March 31, 2022
Lease Income	715	25

Maturity analysis on lease payments receivable.

Maturity analysis on lease payments receivable.	Maturity analysis on lease payments receivable.	Maturity analysis on lease payments receivable.
(Amount in`Lakhs,unless otherwise stated)
Particulars	March 31, 2023	March 31, 2022
Less than oneyear	531	142
One to fveyears	1,909	654
More than fveyears	-	-
Total	2,440	796

40 ReLATed PARTy dISCLOSuReS

(A) Names of related parties and description of relationship as identified and certified by the Company as at March

31, 2023

name of the Related Party	Country	Holding Company
1 Aurum realestate developers Limited (formerly known as Aurum platz It private Limited)	India	promoter
2 K2V2 Technologies Private Limited (w.e.f. October 01, 2021)	India	subsidiary
3 Aurum realtech services private Limited (w.e.f. december 06,2021)	India	Wholly owned subsidiary
4 Aurum softwares and solutions private Limited (w.e.f. December 01,2021)	India	Wholly owned subsidiary
5 Monk Tech Labs Pte. Ltd.(w.e.f. March 17,2022)	singapore	subsidiary
6 Intergrow Asset Management private Limited	India	Associate upto August 31, 2022 SubsidiarySeptember 01,2022
7 Helloworld technologies India private Limited ( HWtL) (w.e.f. June 17,2022)	India	Wholly owned subsidiary
8 Aurum Analytica private Limited ( AApL ) (Formerly know as Blink Advisory services private Limited) (w.e.f. october 15,2022)	India	Wholly owned subsidiary
9 Aurum Facility Management private Limited (Formerly known as orize propertyManagement private Limited)	India	entity in which director is a director

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(B) Other related parties with whom the Company had transactions during the year

List of Key management personnel:

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----- Start of picture text -----

Vasant Gujarathi non-executive and Independent director
Onkar Shetye (appointed w.e.f May o4, 2021) executive director
Srirang Athalye (appointed w.e.f May 04, 2021) non-executive director
Ramashrya Yadav (appointed w.e.f July 23, 2021) non-executive director
Ajit Joshi (appointed w.e.f July 23, 2021) non-executive and Independent director
Padma Deosthali (appointed w.e.f July 23, 2021) non-executive and Independent director
Kunal Karan Chief Financial Officer
Sonia Jain (appointed w.e.f June 01, 2022) Company secretary
Ashank Desai (resigned w.e.f. May 04, 2021 non-executive director
Farid Kazani (resigned w.e.f. May 04, 2021) Managing director & Group CFo
Radhakrishnan Sundar (resigned w.e.f. May 04, 2021) executive director
Ketan Mehta (resigned w.e.f. July 23, 2021) non-executive director
Madhu Dubhashi (resigned w.e.f. July 23, 2021) non-executive and Independent director
Venkatesh Chakravarty (resigned w.e.f. July 23, 2021) non-executive and Independent director
Varika Rastogi (resigned w.e.f. July 16, 2021) Company secretary
Neha Sangam (resigned w.e.f. June 01, 2022) Company secretary
Khushbu Rakhecha (resigned w.e.f. February 17, 2023) Chief Compliance Officer
----- End of picture text -----

(C) details of transactions with related party in the ordinary course of business:

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----- Start of picture text -----

Particulars year ended year ended
March 31, 2023 March 31, 2022
i. Revenue from information technology services
Aurum realestate developers private Limited (formerly known as Aurum platz - 53
It private Limited)
K2V2 Technologies Private Limited - 16
ii. Rent income (Refer note 28)
K2V2 Technologies Private Limited 133 -
Aurum realtech services private Limited 207 -
iii. Support service income
Aurum realtech services private Limited 135 -
Aurum softwares and solutions private Limited 16 -
Helloworld technologies India private Limited 5 -
iv. Interest income on intercompany loans
K2V2 Technologies Private Limited 24 -
Helloworld technologies India private Limited 51 -
Aurum Analytica private Limited (Formerly know as Blink Advisory services 7 -
private Limited)
v. Interest income on debenture
Monk tech Labs pte Ltd. 6 -
Integrow Asset Management private Limited 1 -
vi. Hardware and software expenses
K2V2 Technologies Private Limited 41 1
vii. Repair and Maintenance - Building
Aurum Facility Management private Limited ( AFML ) (formerly known as orize 23 41
property Management private Limited)
viii. Reimbursable / other expenses recovered
Aurum realtech services private Limited - 1
Aurum softwares and solutions private Limited - 7
ix. Investments made in subsidiaries
Aurum realtech services private Limited 200 -
x. Loans given to subsidiaries
Helloworld technologies India private Limited 976 -
K2V2 Technologies Private Limited 450 -
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Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

Particulars	year ended March 31, 2023	year ended March 31, 2022
Aurum Analytica private Limited (Formerly know as Blink Advisory services private Limited)	150	-
xi. Investment in debentures of subsidiaries
Monk tech Labs pte Ltd.	411	-
Integrow Asset Management private Limited	250	-
ix. director Sitting Fees
Vasant Gujarathi	6	11
srirang Athalye	6	8
Ajit Joshi	6	9
Ramshrya Yadav	3	5
padma deosthali	2	5
Madhu dubashi	-	4
Venkatesh Chakravarty	-	4
x. Remuneration to key management personnel
Farid Kazani	-	346
radhakrishnan sundar	-	2
Kunal Karan	76	69
Varika rastogi	-	11
onkar sunil shetye	55	28
Khushbu rakhecha	22	8
sonia Jain	8	-
neha sangam	1	2

xi. Other benefits to key management personnel

|||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|---|---|---|---|---|
|For the year ended
March 31, 2023|Provident
Fund|national
Pension
Scheme|Gratuity|Leave
encashment|Superannuation|Share based
beneft|One time
bonus|
|onkar sunil shetye|2|-|-|-|-|-|-|
|Kunal Karan|2|2|-|2|2|-|-|
|Khushbu rakhecha|-|-|-|-|-|-|2|
|sonia Jain|0|-|-|-|-|-|1|

March 31, 2023 onkar sunil shetye Kunal Karan Khushbu rakhecha sonia Jain	Fund 2 2 - 0	Pension Scheme encashment beneft bonus - - - - - - 2 - 2 2 - - - - - - - 2 - - - - - 1	Pension Scheme encashment beneft bonus - - - - - - 2 - 2 2 - - - - - - - 2 - - - - - 1	Pension Scheme encashment beneft bonus - - - - - - 2 - 2 2 - - - - - - - 2 - - - - - 1	Pension Scheme encashment beneft bonus - - - - - - 2 - 2 2 - - - - - - - 2 - - - - - 1	Pension Scheme encashment beneft bonus - - - - - - 2 - 2 2 - - - - - - - 2 - - - - - 1	Pension Scheme encashment beneft bonus - - - - - - 2 - 2 2 - - - - - - - 2 - - - - - 1
		(Amount in`Lakhs,unless otherwise stated)
For the year ended March 31, 2022	Provident Fund	national Pension Scheme	Gratuity	Leave encashment	Superannuation	Share based beneft	Value of Other Perquisites
Farid Kazani	2	-	42	3	-	-	-
radhakrishnan sundar	0	-	14	3	-	-	-
onkar sunil shetye	1	-	-	-	-	-	-
Kunal Karan	2	2	-	-	2	-	-
Varika rastogi	0	-	-	-	-	-	-
Khushbu rakhecha	-	-	-	-	-	-	1
neha sangam	0	-	-	-	-	-	-
xii. Fair value of vested and unvested options granted to employees of the subsidiaries debited to the carrying value of an Investments in subsidiaries. 169							nA

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(d) Amount due to / from related party

==> picture [481 x 500] intentionally omitted <==

----- Start of picture text -----

(Amount in ` Lakhs, unless otherwise stated)
Particulars year ended year ended
March 31, 2023 March 31, 2022
i. Trade Receivable
K2V2 Technologies Private Limited 86 10
Aurum realtech services private Limited 141 -
ii. Other Receivable
Aurum realtech services private Limited 154 -
Aurum softwares and solutions private Limited 17 -
Helloworld technologies India private Limited 6 -
iii. Trade Payable
Aurum Facility Management private Limited (Formerly known as 3 -
orize property Management private Limited)
iv. Loans given to subsidiaries
Helloworld technologies India private Limited 976 -
K2V2 Technologies Private Limited 450 -
Aurum Analytica private Limited (Formerly know as Blink Advisory 150 -
services private Limited)
v. Investment in debentures of Subsidiaries
Monk tech Labs pte Ltd. 411 -
Integrow Asset Management private Limited 250 -
vi. Investment in Subsidiaries/Associates
Aurum realtech services private Limited 400 200
Aurum softwares and solutions private Limited 600 600
K2V2 Technologies Private Limited 1,800 1,800
Intergrow Asset Management private Limited 999 999
Monk tech Labs pte. Ltd. 768 768
Helloworld technologies India private Limited 3,907 -
Aurum Analytica private Limited (formerly known as Blink Advisory 1,924 -
services private Limited)
vii. Payables to KMP
Incentive Payable
Kunal Karan 20 18
onkar sunil shetye 14 9
director Sitting Fees
Vasant Gujarathi - 1
srirang Athalye - 1
Ajit Joshi - 1
Ramshrya Yadav - 1
padma deosthali - 1
----- End of picture text -----

(e) Terms and conditions of transactions with related parties

The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions. outstanding balances at the year-end are unsecured and interest free excepts loans. there have been no guarantees provided or received for any related party receivables or payables. For the year ended March 31, 2023, the Company has not recorded any impairment of receivables relating to amounts owed by related parties. this assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

41 COMMITMenTS And COnTInGenCIeS:

COMMITMenTS And COnTInGenCIeS:
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Capital commitments
Capital commitments :
estimated amount of contract remaining to be executed on capital account not provided for (inclusive of Gst)	33	220
There are no Contingent Liabilities as at March 31, 2023 and March 31, 2022.

42 SeGMenT RePORTInG

the Company operations predominantly relate to providing software solutions in the real estate sector. the organisational and reporting structure of the Company is based on strategic Business units (sBu) concept. the SBU’s are primarily cost center segments. SBU’s are the operating segments for which separate financial information is available and for which operating results are evaluated regularly by management in deciding how to allocate resources and in assessing performance. these sBu’s provide end-to-end information technology solutions to customers. the Chief operating decision Maker (CodM) reviews the operations of the group as one operating segment on the basis of sBus.

The Company’s primary reportable segments consist of the following SBUs, which are based on the risks and returns in different areas of the operations: Software as a Service ( SAAS ), Real Estate as a Service ( RAAS) and Others. sAAs operations comprise of activities where the Company derives revenue from customers for the use of the It products it owns. rAAs operations comprise of activities where the Company derives revenue from customers on use of real estate related services it provides.

the following table sets forth revenues and results by areas of operations based on the cost center under which billing to customer has been made during year:

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(Amount in ` Lakhs, unless otherwise stated)
Particulars year ended year ended
March 31, 2023 March 31, 2022
Segment Revenue
software as a service (sAAs) - -
real estate as a service (rAAs) 923 165
Segment Results
software as a service (sAAs) (280) (107)
real estate as a service (rAAs) (15) (353)
Total (295) (460)
Less: Finance cost (96) (12)
Add / (Less) : other un-allocable Income / (expenditure) - net (1,008) (608)
(Loss)/proft before exceptional items (1,399) (1,080)
Exceptional items - Proft - -
(Loss)/proft before tax (1,399) (1,080)
the following table sets forth the Company’s total assets and total
liabilities:
Segment Assets
software as a service (sAAs) 3,065 2,396
real estate as a service (rAAs) 12,257 5,243
unallocable corporate assets 11,635 11,103
Total assets 26,957 18,742
Segment liabilities
software as a service (sAAs) 117 23
real estate as a service (rAAs) 631 71
unallocable corporate liabilities 2,101 1,880
Total liabilities 2,849 1,974
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NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

43 FAIR VALueS OF FInAnCIAL ASSeTS And FInAnCIAL LIABILITIeS

The Company’s financial instruments consist primarily of cash and cash equivalents, short term investments in time deposits and mutual funds, restricted cash, trade receivables, Inter company Loans, Lease liabilities, trade payable, and accrued liabilities. The carrying amount of cash and cash equivalents, short term investments in time deposits and mutual funds, restricted cash, trade payable and accrued liabilities as of the reporting date approximates their fair market value due to the relatively short period of time of original maturity tenure of these instruments. Classification of the financial assets and financial liabilities is given below:

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(Amount in ` Lakhs, unless otherwise stated)
As at March 31, 2023 As at March 31, 2022
Fair Value and Carrying Fair value Fair value Amortized Fair value Fair value Amortized
Amount through through Other Cost through through Other Cost
Profit and comprehensive Profit and comprehensive
loss income loss income
FInAnCIAL ASSeTS- nOn
CuRRenT
Inter-company loans - - 2,237 - - -
security deposits - - 331 - - 104
FInAnCIAL ASSeTS-
CuRRenT
Investments 1,500 - 1,100 2,228 - 1,000
- - - -
Cash and cash equivalents 1,519 2,494
trade receivables - - 288 - - 53
Bank balances other than cash - - 1,982 - - 2,991
and cash equivalents
other Financial assets - - 289 - - 45
FInAnCIAL LIABILITIeS- nOn
CuRRenT
Borrowings - - 433 - - -
Lease Liabilities - - 590 - - 425
Other fnancial liabilities - - 129 - - 24
FInAnCIAL LIABILITIeS-
CuRRenT
Lease Liabilities - - 205 - - 116
trade payables - - 109 - - 100
Other fnancial liabilities - - 1,288 - - 1,285
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44 FAIR VALue HIeRARCHy

The following is the hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

No financial assets/liabilities have been valued using level 3 fair value measurements.

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NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

the following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|As at
March 31, 2023|As at
March 31, 2022|
|Level 1
|||
|Investments in mutual funds carried at fair value through proft and loss|-|2,228|
|
Level 3
|||
|Investments in mutual funds carried at fair value through proft and loss|1,500|-|

45 FInAnCIAL RISK MAnAGeMenT OBJeCTIVeS And POLICIeS

The Company is exposed to various financial risks. These risks are categorized into market risk, credit risk and liquidity risk. The Company’s risk management is coordinated by the Board of Directors and focuses on securing long term and short term cash flows. The Company does not engage in trading of financial assets for speculative purposes.

(A) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Such changes in the values of financial instruments may result from changes in the foreign currency exchange rates, interest rates and other market changes.

Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates.

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

Interest rate sensitivity

the following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion of loans and borrowings. With all other variables held constant, the Company’s profit before tax is affected through the impact on floating rate borrowings, as follows:

Particulars	As at	Closing balance	Effect onproft before tax	Effect onproft before tax
			1% Increase	1% decrease
Borrowings (Impact on proft and loss)	March 31, 2023	13	14	13
Borrowings (Impact on proft and loss)	March 31, 2022	-	-	-

(B) Credit risk

Credit risk is the risk of financial loss arising from counterparty failure to repay or service debt according to the contractual terms or obligations. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risks. Credit risk is controlled by analysing credit limits and credit worthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, time deposits and investment in mutual fund. The Company maintains its cash and cash equivalents, time deposits and investment in mutual fund, with banks and mutual fund houses having good reputation, good past track record, and who meet the minimum threshold requirements under the counterparty risk assessment process, and reviews their credit-worthiness on a periodic basis.

Foreign currency sensitivity

(C) Liquidity risk

the following table demonstrates the sensitivity to a reasonably possible change in the us dollar exchange rate, with all other variables held constant, of the Company’s profit before tax (due to changes in the fair value of monetary assets and liabilities). the Company’s exposure to foreign currency changes for all other currencies is not material.

Currency	Closing balance	Closing balance	Effect on proft before tax March 31, 2023	Effect on proft before tax March 31, 2023	Effect on proft before tax March 31, 2022	Effect on proft before tax March 31, 2022
	March 31, 2023	March 31, 2022	1% Increase	1% decrease	1% Increase	1% decrease
usd	0	-	0	0	-	-

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. the Company exposure to the risk of changes in market interest rates relates primarily to the Company’s long-term debt obligations with floating interest rates.

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. The Company consistently generated sufficient cash flows from operations to meet its financial obligations as and when they fall due.

the Company’s current assets aggregate to 7,323 Lakhs (March 31, 2022 - 9,237 Lakhs) including current investments, cash and cash equivalents and bank balances against aggregate current liability of 1,635 Lakhs (March 31, 2022 - 1,512 Lakhs) and non current liabilities 1,214 Lakhs (March 31, 2022 - 462 Lakhs) including borrowings on the reporting date. While the Company’s total equity stands at 24,108 Lakhs (March 31, 2022 - 16,768 Lakhs). Hence liquidity risk or risk that the Company may not be able to settle or meet its obligations as they become due does not exist.

46 CAPITAL MAnAGeMenT

For the purpose of the Company’s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders. The primary objective of the Company’s capital management is to maximize the shareholder value and to ensure the Company’s ability to continue as a going concern.

The Company monitors gearing ratio i.e. total debt in proportion to its overall financing structure, i.e. equity and debt. total debt comprises of non-current borrowing which represents bank loan. the Company do not have any debt for the year ended March 31, 2022. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets.

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NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

|||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|---|
|Particulars||As at
March 31, 2023|As at
March 31, 2022|
|Total equity|(i)|24,108|16,768|
|total debt
|(ii)|433|-|
|Overall fnancing|(iii)=(i)+(ii)|24,541|16,768|
|Gearingratio|(ii)/(iii)|0.02|nA|

No changes were made in the objectives, policies or processes for managing capital during the years ended March 31, 2023 and March 31, 2022.

47 CORPORATe SOCIAL ReSPOnSIBILITy eXPendITuRe

As per Section 135 of the Companies Act, 2013 (“the Act”), a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on Corporate Social responsibility (Csr) activities. A Csr committee has been formed by the Company as per the Act. the funds were primarily allocated to a corpus and utilized through the year on these activities which are specified in Schedule VII of the Companies Act, 2013.

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|
|Particulars|March 31, 2023|March 31, 2022|
|Gross Amount required to be spent asper Section 135 of the Act|23.33|40.53|
|Add: Amount unspent frompreviousyears|-|-|
|Total Gross amount required to be spent duringtheyear|23.33|40.53|
|Amount approved bythe Board to be spent duringtheyear|23.33|40.53|

b) The details of the amount spent during the year on CSR activities are as follows :

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----- Start of picture text -----

(Amount in ` Lakhs, unless otherwise stated)
As at March 31, 2023 As at March 31, 2022
Fair Value and Carrying Amount In Cash yet to be Total In Cash yet to be Total
paid in paid in
cash cash
1. Construction/acquisition of any - - - - - -
asset
2. on purpose other than (1) above 23 - 23 41 - 41
3. shortfall/ (excess) at the end of -
the year
4. reason for shortfall nA nA
----- End of picture text -----

48 dISAGGReGATe ReVenue InFORMATIOn

The table below presents disaggregated revenues from contracts with customers for the year ended March 31,2023 by offerings and contract-type. The Company believes that this disaggregation best depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by industry, market and other economic factors.

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|
|Particulars|March 31, 2023|March 31, 2022|
|Revenue by offerings|||
|revenue from Information technology services|2|140|
|revenue from Insta home business|130|-|
|rent income|715|25|
||(Amount in`Lakhs,unless otherwise stated)||
|Timing of Revenue Recognition|March 31, 2023|March 31, 2022|
|services transferred at a point in time|130|-|
|services transferred over time|716|165|

49 The Board of Directors of the Company in its meeting held on July 23, 2021 approved the acquisition of 51% equity share capital (on a fully diluted basis), of K2V2 Technologies Private Limited (‘K2V2’), for an aggregate cash consideration of ` 4,000 Lakhs.

the Company has paid 1,800 Lakhs on August 25, 2021 to acquire 20,735 shares (44.44% of equity share capital) @ 8,681 per share. In case of the further investment of ` 2,200 Lakhs to attain 51% of equity share capital, the Company has an option to invest this anytime from the closing date or on the achievement of a defined target by March 31, 2023, as prescribed in the terms of the share subscription and shareholders agreement with K2V2. The Company has accounted for this as an ‘Investment in Associate’, at cost till September 30, 2021.

Further during the period ended December 31, 2021, the Company amended its Share Purchase Agreement with K2V2, w.e.f. October 1, 2021 and on account of the revised rights, now exercises control over K2V2 in accordance with IND AS 110. Accordingly, w.e.f. October 1, 2021, K2V2 has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair value based on the purchase price allocation conducted by an independent valuer.

50 The Board of Directors of the Company in its meeting held on December 17, 2021 approved the acquisition of 51% equity share capital (on a fully diluted basis), of Monk Tech Labs Pte. Limited, Singapore (‘THM’), for an aggregate cash consideration of USD 2,000,000 (approximately 1,500 Lakhs) and subscription of Optionally Convertible Debentures for USD 3,000,000 (approximately 2,250 Lakhs). The Company invested on March 17, 2022 in THM after receiving approval from AD banker/RBI. The Company exercises control over THM in accordance with IND AS 110 and has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair value based on the purchase price allocation conducted by an independent valuer.
51 The Board of Directors of the Company in its meeting held on March 23, 2022, approved the acquisition of 100% equity share capital of Helloworld Technologies India Private Limited (‘HWT’), for an aggregate cash consideration of up to 4,200 Lakhs and investment of 1,800 Lakhs towards subscription of further equity shares or convertible notes of HWT and, or, advancing loan and, or, line of credit to HWT. During the quarter ended June 30, 2022 the Company had completed the equity investment by paying 3,811 Lakhs on June 23, 2022 to Nestaway Technologies Private Limited, who were holding 100% shares of HWT. The Company has acquired control over HWT w.e.f. June 17, 2022 and as required under IND AS 110 HWT has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded intangible assets of 1,319 Lakhs and resultant goodwill of ` 4,387 Lakhs based on these valuation and will record any necessary adjustments during this measurement period. the intangible assets have been amortised over a period of 5 years.
52 The Board of Directors of the Company in its meeting held on October 30, 2021, approved the acquisition of 49% of equity shares (on a fully diluted basis) of Integrow Asset Management Private Limited (‘Integrow’), for an aggregate cash consideration of about 1,000 Lakhs and subscription of Optionally Convertible Debentures for 1,500 Lakhs. The Company had completed equity investment by paying requisite amount on January 31, 2022 and had kept the right to exercise majority control in the Board of Integrow in abeyance until August 31, 2022. Basis the terms of the agreement with respect to the Company’s rights over control of the Board composition, this was accounted as an ‘Investment in Associate’, at cost until August 31, 2022.

Further during the year, on September 1, 2022, the Company has reinstated its right to exercise majority control in the board of Integrow, and accordingly based on Company’s rights over the control of Board composition it now exercises control over Integrow in accordance with IND AS 110. Intergrow has been accounted as a Subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded resultant goodwill of ` 606 Lakhs based on these valuation and will record any necessary adjustments during this measurement period.

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Financial Statements

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

the Company has further subscribed to the optionally Convertible debentures (oCd) of ` 250 Lakhs issued by Integrow.

53 The Board of Directors of the Company in its meeting held on May 26, 2022, has approved the acquisition of 100% of equity shares of Blink Advisory Services Private Limited (‘Blink Advisory’), for an aggregate cash consideration of up to 2,350 Lakhs and investment of 2,100 Lakhs as per the requirements of the business.

Subsequently the purchase consideration was finalised at 1,850 Lakhs. On October 15, 2022, the Company has completed the equity investment and paid 1,850 Lakhs, out of which 1,700 Lakhs has been paid directly to the equity shareholders and balance 150 Lakhs to Blink Advisory to repay the identified liabilities of Blink Advisory.

The Company has acquired control over Blink Advisory w.e.f. October 15, 2022 and as required under IND AS 110, Blink Advisory has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at provisional fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded resultant goodwill of 1,566 Lakhs based on these valuation and will record any necessary adjustments during this measurement period. the Company has further provided an intercompany loan of 150 Lakhs to Blink Advisory.

post the investment the name of Blink Advisory has changed to Aurum Analytica private Limited “AApL” w.e.f. December 22, 2022 on approval of the same by the Ministry of Corporate Affairs.

54 During the previous year ended March 31, 2022, the Company had received incorporation approval for two wholly owned subsidiaries viz. 1) Aurum Softwares and Solutions Private Limited and 2) Aurum RealTech Services Private Limited with authorized capital of 1000 Lakhs each. The Company has invested 600 Lakhs and ` 400 Lakhs respectively in the two wholly owns subsidiaries till the end of March 31, 2023.

55 CHAnGe In OBJeCTS CLAuSe OF MeMORAnduM OF ASSOCIATIOn:

The Board of Directors of the Company in its meeting held on July 23, 2021 has approved to include in the main objects clause of Memorandum of Association of the Company - the business of Information technology enabled services, software and technology model related to property management platform, customer digital experience, enterprise digital transformation, to be a proptech ecosystem by using tech enabled innovations like internet of things, artificial intelligence chatbots, machine learning, cloud support, blockchain, augmented and virtual reality, UI/UX design, data analytics, predictive analytics, robotic process automation, business intelligence, data science management, digital wallets, smart building technologies, fractional ownership, providing proptech solutions and all other related activities to proptech, in order to create an integrated digital ecosystem focused on complete value chain of real estate.

56 RATIOS AnALySIS And ITS eLeMenTS

RATIOS AnALySIS And ITS eLeMenTS	RATIOS AnALySIS And ITS eLeMenTS	RATIOS AnALySIS And ITS eLeMenTS	RATIOS AnALySIS And ITS eLeMenTS
(Amount in`Lakhs,unless otherwise stated)
	As at March 31, 2023	As at March 31, 2022	% change from March 31, 2022 to March 31, 2023
Current ratio Debt-Equity Ratio debt service Coverage ratio Return on Equity Ratio trade receivables turnover ratio trade payables turnover ratio net capital turnover ratio Net proft ratio return on Capital employed return on investment	4.48 0.02 (1.83) (0.05) 5.41 - 0.16 (1.22) (0.05) -	6.11 - (10.49) (0.05) - - 0.02 (5.17) (0.06) -	(26.72) - (82.60) 10.86 - - 661.20 (76.42) (16.01) -

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

Reasons for significant variance in above ratio

Particulars	% change from March 31, 2022 to March 31, 2023
Current ratio	the net impact in reduction of the Current Assets and Current Liabilities is`. 2,038 Lakhs. This reduction happened mainly due to decrease in current investments, cash and cash equivalence and bank balance other than cash and cash equivalent taken together on utilisation of funds in business operations and acquisitions. This has led to signifcant % change in current ratio.
Debt-Equity Ratio	In 2022-23, the Company has taken a loan from Bank of Baroda which lead to increase in Debt-EquityRatio.
debt service Coverage ratio	In 2022-23, the proportion of Depreciation and Finance cost has increased in total loss which lead to betterment of debt service Coverage ratio
Return on Equity Ratio	The average equity got increased in 2022-23, addition on account of Right Issue. This has led to % change in return on equityratio.
net capital turnover ratio	Net sales during this year has increased as compared to the previous year, as the rent income increased due to full occupancy in the current year. the working capital has reduced mainly due to a reduction of current investments, cash and cash equivalence and bank balance other than cash and cash equivalent taken together. This has led to high % change in net capital turnover ratio.
Net proft ratio	Net sales during this year has increased as compared to the previous year, as the rent income increased due to full occupancy in the current year. This has led to high % change in netproft ratio.
return on Capital employed	Net sales during the year has increased as compared to the previous year, due to the fact that there was full occupancy throughout the year. the capital employed has increased due to right issue of the equity shares. This has led to high % change in return on capital employed.

elements of Ratio

==> picture [480 x 244] intentionally omitted <==

----- Start of picture text -----

Ratios numerator denominator As at March 31, 2023 As at March 31, 2022
numerator denominator numerator denominator
Current ratio Current Current 7,323 1,635 9,237 1,512
Assets Liability
Debt-Equity Ratio total debt Total Equity 433 24,108 - 16,768
debt service Coverage ratio Net Profit Interest (364) 199 (650) 62
after taxes + and Lease
depreciation payments
and other + principle
amortizations payments
+ Interest
Return on Equity Ratio Net Profit Average (1,124) 20,438 (851) 17,151
after taxes Total Equity
trade receivables turnover ratio net Credit Average 923 171 165 -
sales trade
receivable
trade payables turnover ratio net Credit Average nA nA nA nA
purchases trade
payable
----- End of picture text -----

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Financial Statements

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

Ratios	numerator	denominator	As at March 31, 2023	As at March 31, 2023	As at March 31, 2022	As at March 31, 2022
			numerator	denominator	numerator	denominator
net capital turnover ratio	net sales	Working Capital	923	5,687	165	7,725
Net proft ratio	Net Proft after taxes	net sales	(1,124)	923	(851)	165
return on Capital employed	earning before interest and taxes	" tangible net Worth + total debt + deferred tax Liability/ (Assets) "	(1,303)	24,012	(1,067)	16,514
return on investment	Proft Before tax - Finance cost	total assets	nA	nA	nA	nA

57 deTAILS OF BenAMI PROPeRTy HeLd

The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

NOTES FORMING PART OF THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).

the Company has not received any fund from any party(s) (Funding party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

64 undISCLOSed InCOMe

the Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered or disclosed as income during the year (and previous year) in the tax assessments under the Income tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

65 deTAILS OF CRyPTO CuRRenCy OR VIRTuAL CuRRenCy

The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

66 eVenTS AFTeR THe RePORTInG PeRIOd

In April 2023, the Company has received incorporation approval for two subsidiaries viz.1) Monk Tech Venture Private Limited and 2) Cuneate Services Private Limited with authorized capital of 10 Lakhs and 100 Lakhs respectively.

67 THe FOLLOWInG SCHeduLe III AMendMenTS IS nOT APPLICABLe On THe COMPAny:

58 WILFuL deFAuLTeR

The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

59 ReLATIOnSHIP WITH STRuCK OFF COMPAnIeS undeR SeCTIOn 248 OF THe COMPAnIeS ACT, 2013 OR SeCTIOn 560 OF COMPAnIeS ACT, 1956,

The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

60 ReGISTRATIOn OF CHARGeS OR SATISFACTIOn WITH ReGISTRAR OF COMPAnIeS

the Company does not have any charges or satisfaction which is yet to be registered with roC beyond the statutory period.

61 COMPLIAnCe WITH nuMBeR OF LAyeRS OF COMPAnIeS

The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

(i) the Company does not hold any immovable property whose lease deed is not in the name of Company;
(ii) The Company has not revalued any of its property, plant and equipment or intangible assets.
(iii) the Company does not have any borrowings on the basis of security of current assets.
68 Previous year figures have been regrouped/ reclassified to confirm presentation as per Ind AS as required by schedule III of the Act.
“0“ denotes amount less than ` 0.5 Lakhs.

62 COMPLIAnCe WITH APPROVed SCHeMe(S) OF ARRAnGeMenTS

the Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

63 uTILISATIOn OF BORROWed FundS And SHARe PReMIuM:

no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other

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IndePendenT AudIToR’s RePoRT

To the Members of Aurum PropTech Limited (Formerly known as Majesco Limited)

of the Group and its associate as at March 31, 2023, of consolidated loss and other comprehensive income, consolidated changes in equity and its consolidated cash flows for the year then ended.

Report on the Audit of the Consolidated Financial statements

BAsIs FoR oPInIon

oPInIon

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Sas are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of

We have audited the accompanying consolidated financial statements of Aurum PropTech Limited (Formerly known as Majesco Limited) (hereinafter referred to as the “Holding Company”) and its subsidiaries (Holding Company and its subsidiaries together referred to as “the Group”) and its associate, which comprise the Consolidated Balance Sheet as at March 31, 2023, and the Consolidated Statement of Profit and Loss (including Other Comprehensive Income), the Consolidated Statement of Changes in Equity and the Consolidated Statement of Cash Flows for the year then ended, and notes to the Consolidated Financial Statements, including a summary of significant accounting policies and other explanatory information (hereinafter referred to as “the consolidated financial statements”).

our report. We are independent of the Group and its associate in accordance with the ethical requirements that are relevant to our audit of the consolidated financial statements in terms of the Code of Ethics issued by Institute of Chartered Accountant of India (“ICAI”), and the relevant provisions of the Act and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated financial statements give the information required by the Companies Act, 2013 (“the Act”) in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with Companies (Indian Accounting Standards) Rules, 2015 (“Ind AS”) and other accounting principles generally accepted in India, of their consolidated state of affairs

Key AudIT MATTeRs

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements for the year ended March 31, 2023. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

IndEPEndEnT AudITOR’S REPORT (Contd.)

Key Audit Matter

How the Key Audit Matter was addressed in our audit

Refer Note 6 and Note 38 to the Consolidated financial statements

Our audit procedures in respect of this area included but are not limited to:

Evaluated the appropriateness of the acquisition method of accounting adopted by the management to account for these acquisitions.

The Group has recognised a goodwill and intangible assets • amounted to 6,560 lakhs and 1,558 lakhs respectively on account of acquisition of Helloworld Technologies India Private Limited, a private company engaged in providing co-living spaces for rent, Aurum Analytica Private Limited • (Formerly known as Blink Advisory Services Private Limited) engaged in the business of research development of software and support service in various market areas and Integrow Asset Management Private Limited engaged in the business of providing Asset Management, Alternative • Investment Management, Financial Services and Identifying investment and financing opportunities in various aspects of Real Estate value chain.

Understood the process followed by the Group for assessment and determination of the method of accounting, including the identification of assets and liabilities and determination of their fair values and also evaluation of work of management experts.

Verified the design and implementation and the operating effectiveness of key internal controls over valuation process.

Corroborated management’s alignment of accounting policies and estimates by comparing the significant accounting policies and estimates of the Acquirees with the Group’s accounting policies and estimates.
Accounting for the business combination involves judgement in order to:
Identify and measure the fair value of the identifiable assets (tangible and intangible) acquired and liabilities • assumed including the contingent liabilities in the transaction.
Obtained and verified the key supporting documentation including the share subscription and shareholder agreements to understand key terms and conditions.
Allocation of purchase consideration to goodwill and separately identified intangibles assets from the • transactions.
Performed specific procedures to verify the carrying amount of assets and liabilities used for acquisition accounting as on acquisition date.
Align the accounting policies and estimates of the acquirees with the Group’s accounting policies and • Involved our valuation specialists (Auditor’s expert) estimates. to assess the appropriateness of the significant assumptions used in the valuation for purchase price
In consideration of above and magnitude of the transaction, allocation, which included comparing the underlying
we have determined this to be a key audit matter. parameters of the discount rate and long-term growth rates used with the publicly available information.

• Evaluated the competence and objectivity of the valuation specialist engaged by the management to determine the fair values of identifiable assets and liabilities.

Validated the appropriateness of estimates used in recognition and measurement of goodwill and the separately identifiable intangible assets through enquiries and testing of supporting documents.
Assessed the adequacy and appropriateness of the disclosures made in the consolidated financial statements in compliance with the requirements of Ind AS 103: “Businesss Combinations” including disclosures related to significant accounting judgements and estimates.

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IndEPEndEnT AudITOR’S REPORT (Contd.)

InFoRMATIon oTHeR THAn THe ConsoLIdATed FInAnCIAL sTATeMenTs And AudIToR’s RePoRT THeReon

The Holding Company’s Board of directors is responsible for the other information. The other information comprises the information included in the Holding Company’s Annual Report but does not include the consolidated financial statements and our auditor’s report thereon. The Holding Company’s Annual Report is expected to be made available to us after the date of this auditor’s report.

Our opinion on the consolidated financial statements does not cover the other information and we will not express any form of assurance conclusion thereon.

In connection with our audit of the consolidated financial statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

When we read the Holding Company’s Annual Report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance under SA 720 ‘The Auditor’s responsibilities Relating to Other Information’.

ResPonsIBILITIes oF MAnAgeMenT And THose CHARged wITH goveRnAnCe FoR THe ConsoLIdATed FInAnCIAL sTATeMenTs

The Holding Company’s Board of directors is responsible for the preparation and presentation of these consolidated financial statements in term of the requirements of the Act that give a true and fair view of the consolidated financial position, consolidated financial performance, consolidated changes in equity and consolidated cash flows of the Group including its associate in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under section 133 of the Act. The respective Board of directors of the companies included in the Group and of its associate are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and of its associate for preventing and detecting frauds and other irregularities; the 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 accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial statements by the directors of the Holding Company, as aforesaid.

In preparing the consolidated financial statements, the respective Board of directors of the companies included in the Group and of its associate are responsible for assessing the ability of the Group 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 Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of directors of the companies included in the Group and of its associate are responsible for overseeing the financial reporting process of the Group and of its associate.

AudIToR’s ResPonsIBILITIes FoR THe AudIT oF THe ConsoLIdATed FInAnCIAL sTATeMenTs

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are 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 Standards on Auditing (“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 these consolidated financial statements.

We give in “Annexure A” a detailed description of Auditor’s responsibilities for Audit of the Consolidated Financial Statements.

oTHeR MATTeRs

The consolidated financial statements also include the

IndEPEndEnT AudITOR’S REPORT (Contd.)

Group’s share of net loss after tax and comprehensive loss of 117 for the period April 01, 2022 to August 31, 2022, as considered in the consolidated financial statements, in respect of one associates, whose financial statements have not been audited by us. The said one associate became a subsidiary from September 01, 2022, whose financial information for the period ended March 31, 2023, are included in the consolidated audited financial statements, which have not been audited by us. We did not audit the financial information of the said subsidiary, whose financial statements reflect total assets of 1375 lakhs as at March 31, 2023, total revenues of 174 lakhs and net cash outflow amounting to 6 Lakhs for the year ended on that date, as considered in the consolidated financial statements. This financial information is unaudited and have been furnished to us by Management and our opinion on the consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of this associate and then subsidiary, and our report in terms of sub-section (3) of Section 143 of the Act, in so far as it relates to the aforesaid associate and then subsidiary, is based solely on such unaudited financial information. In our opinion and according to the information and explanations given to us by the Management, such financial information is not material to the Group.

Our opinion on the consolidated financial statements, and our report on Other Legal and Regulatory Requirements below, is not modified in respect of the above matter with respect to our reliance on the work done and financial information certified by the management.

RePoRT on oTHeR LegAL And ReguLAToRy RequIReMenTs

As required by Section 143(3) of the Act, we report, to the extent applicable, 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 purposes of our audit of the aforesaid consolidated financial statements.
b. In our opinion, proper books of account as required by law relating to preparation of the aforesaid consolidated financial statements have been kept so far as it appears from our examination of those books.
c. The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss (including other comprehensive income), the Consolidated Statement of Changes in Equity and the Consolidated Statement of Cash Flow dealt with by this Report are in agreement with the relevant books of account maintained for the purpose of preparation of the consolidated financial statements.
d. In our opinion, the aforesaid consolidated financial statements comply with the Accounting Standards specified under Section 133 of the Act.
e. On the basis of the written representations received from the directors of the Holding Company as on March 31, 2023 taken on record by the Board of directors of the Holding Company and the reports of the statutory auditor of its subsidiary companies incorporated in India, none of the directors of the Group companies incorporated in India are disqualified as on March 31, 2023 from being appointed as a director in terms of Section 164 (2) of the Act.
f. With respect to the adequacy of internal financial controls with reference to consolidated financial statements of the Group incorporated in India and the operating effectiveness of such controls, refer to our separate report in “Annexure B”.
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 Auditor’s) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
i. There were no pending litigations which would impact the consolidated financial position of the Group.
ii. The Group, did not have any material foreseeable losses on long-term contracts including derivative contracts.
iii. There were no amounts which were required to be transferred to the Investor

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IndEPEndEnT AudITOR’S REPORT (Contd.)

AnneXuRe A

TO THE INDEPENDENT AUDITOR’S REPORT

Education and Protection Fund by the Holding Company, and its subsidiary companies incorporated in India.

iv. (1) The respective Managements of the Holding Company and its subsidiaries which are companies incorporated in India whose financial statements have been audited under the Act have represented to us that, to the best of their knowledge and belief, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Holding Company or any of such subsidiaries to or in any other persons or entities, including foreign entities with the understanding, whether recorded in writing or otherwise, as on the date of this audit report, that such parties shall, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Holding Company or any of such subsidiaries (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(2) The respective Managements of the Holding Company and its subsidiaries and associate which are companies incorporated in India whose financial statements have been audited under the Act have represented to us that, to the best of their knowledge and belief, no funds have been received by the Holding Company or any of such subsidiaries from any persons or entities, including foreign entities with the understanding, whether recorded in writing or otherwise, as on the date of this audit report, that the Holding Company or any of such subsidiaries shall, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
- (3) Based on the audit procedures that have been considered reasonable and appropriate in the circumstances performed by us, and according to the information and explanations provided to us by the Management of the Holding company in this regard nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e) as provided under (1) and (2) above, contain any material mis-statement.
v. The Holding company and its subsidiaries have neither declared nor paid any dividend during the year.
vi. As proviso to rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable for the Holding Company, and its subsidiary companies incorporated in India only w.e.f. April 1, 2023, reporting under this clause is not applicable.
In our opinion, according to information, explanations given to us, the remuneration paid by the Holding Company, to its directors is within the limits laid prescribed under Section 197 of the Act and the rules thereunder except in case of 7 subsidiaries, as the provisions of the aforesaid section is not applicable to private companies.
According to the information and explanations given to us and based on the CARO reports issued by us for the Holding Company and on consideration of CARO reports issued by the statutory auditors of subsidiaries included in the consolidated financial statements of the Group to which reporting under CARO is applicable, we report that there are no Qualifications/adverse remarks.

For M s K A & Associates

Chartered Accountants ICAI Firm Registration No. 105047W

vishal vilas divadkar

Partner

Membership No.: 118248 UDIN: 23118247BGYDKP2938 Place: Mumbai date: April 27, 2023

AnneXuRe A To THe IndePendenT AudIToR’s RePoRT on even dATe on THe ConsoLIdATed FInAnCIAL sTATeMenTs oF AuRuM PRoPTeCH LIMITed (FoRMeRLy Known As MAJesCo LIMITed)

Auditor’s Responsibilities for the Audit of the Consolidated Financial statements

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 consolidated financial statements, 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 from 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. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to consolidated financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management’s 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 Group 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 consolidated financial statements 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 Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group and its associate to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the audit of the financial statements of such entities included in the consolidated financial statements of which we are the independent auditors.

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated financial statements of which we are the independent auditors 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.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements for the year ended March 31, 2023 and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

For M s K A & Associates

Chartered Accountants ICAI Firm Registration No. 105047W

vishal vilas divadkar

Partner

Membership No.: 118248 UDIN: 23118247BGYDKP2938 Place: Mumbai date: April 27, 2023

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AnneXuRe B

TO THE INDEPENDENT AUDITOR’S REPORT

AnneXuRe B To THe IndePendenT AudIToR’s RePoRT oF even dATe on THe ConsoLIdATed FInAnCIAL sTATeMenTs oF AuRuM PRoPTeCH LIMITed (FoRMeRLy Known As MAJesCo LIMITed)

[Referred to in paragraph 1(f) under ‘Report on Other Legal and Regulatory Requirements’ in the Independent Auditors’ Report of even date to the Members of Aurum Proptech Limited (Formerly known as Majesco Limited) on the consolidated Financial Statements for the year ended March 31, 2023

Report on the Internal Financial Controls under Clause (i) of sub-section 3 of section 143 of the Companies Act, 2013 (“the Act”)

oPInIon

In conjunction with our audit of the consolidated financial statements of the Company as of and for the year ended March 31, 2023, we have audited the internal financial controls reference to consolidated financial statements of Aurum Proptech Limited (Formerly known as Majesco Limited) (hereinafter referred to as “the Holding Company”) and its subsidiary companies (the Holding Company and its subsidiaries together referred to as “the Group”), which are companies incorporated in India, as of that date.

In our opinion, and to the best of our information and according to the explanations given to us, the Holding Company and its subsidiary companies which are companies incorporated in India, have, in all material respects, an adequate internal financial controls with reference to consolidated financial statements and such internal financial controls with reference to consolidated financial statements were operating effectively as at March 31, 2023, based on the internal financial controls with reference to consolidated financial statements criteria established by the respective companies considering the essential components of internal control stated in the Guidance note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India (“the ICAI”).

MAnAgeMenT’s ResPonsIBILITy FoR InTeRnAL FInAnCIAL ConTRoLs

The respective Board of directors of the Holding company and its subsidiary companies, which are companies incorporated in India, are responsible for establishing

and maintaining internal financial controls based on the internal control with reference to consolidated financial statements criteria established by the respective companies considering the essential components of internal control stated in the Guidance Note. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the respective company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

AudIToR’s ResPonsIBILITy

Our responsibility is to express an opinion on the internal financial controls with reference to consolidated financial statements of the Holding company and its subsidiary companies, which are companies incorporated in India, based on our audit. We conducted our audit in accordance with the Guidance note on Audit of Internal Financial Controls Over Financial Reporting (the “Guidance note”) issued by the ICAI and the Standards on Auditing prescribed under section 143(10) of the Act, to the extent applicable to an audit of internal financial controls. Those Standards and the Guidance note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to consolidated financial statements was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with reference to consolidated financial statements and their operating effectiveness. Our audit of internal financial controls with reference to consolidated financial statements included obtaining an understanding of internal financial controls with reference to consolidated financial statements, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error.

ANNEXURE B

TO THE INDEPENDENT AUDITOR’S REPORT (Contd.)

We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our audit opinion on the internal financial controls with reference to consolidated financial statements of the Holding Company and its subsidiary companies, which are companies incorporated in India.

MeAnIng oF InTeRnAL FInAnCIAL ConTRoLs wITH ReFeRenCe To ConsoLIdATed FInAnCIAL

sTATeMenTs

A company’s internal financial control with reference to consolidated financial statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal financial control with reference to consolidated financial statements includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the

company’s assets that could have a material effect on the consolidated financial statements.

InHeRenT LIMITATIons oF InTeRnAL FInAnCIAL ConTRoLs wITH ReFeRenCe To ConsoLIdATed FInAnCIAL sTATeMenTs

Because of the inherent limitations of internal financial controls with reference to consolidated financial statements, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls with reference to consolidated financial statements to future periods are subject to the risk that the internal financial control with reference to consolidated financial statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

For M s K A & Associates

Chartered Accountants ICAI Firm Registration No. 105047W

vishal vilas divadkar

Partner

Membership No.: 118248 UDIN: 23118247BGYDKP2938 Place: Mumbai date: April 27, 2023

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Financial Statements

ConsoLIdATed BALAnCe sHeeT AS AT MARCH 31, 2023

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(Amount in ` Lakhs, unless otherwise stated)
Particulars notes As at As at
March 31, 2023 March 31, 2022
AsseTs
non-current assets
Property, plant and equipment 5(i) 3,719 3,051
Right of use assets 7 8,381 600
Capital work-in-progress 5(ii) 56 223
Goodwill on consolidation 40 7,790 1,231
Other intangible assets 6(i) 3,599 1,841
Intangible assets under development 6(ii) 164 66
Investment accounted using equity method 8 - 946
Financial assets
Other fnancial assets 9 651 104
deferred tax asset 10(i) 1,654 441
Income tax assets (net) 10(ii) 1,551 1,109
Other non current assets 11 220 23
Total non-current assets 27,785 9,635
Current assets
Financial assets
Investments 12 2,766 3,741
Trade receivables 13 1,857 777
Cash and cash equivalents 14 2,026 3,411
Bank balances other than cash and cash equivalent 15 2,508 3,904
Loans 16 2 1
Other fnancial assets 17 1,036 125
Other current assets 18 1,197 463
Total current assets 11,392 12,422
Total assets 39,177 22,057
equITy And LIABILITIes
equity
Equity share capital 19 1,968 1,431
Other equity 20 20,285 15,377
Total equity attributable to equity holders of the Company 22,253 16,808
non-controlling interests 1,229 2,066
Total equity 23,482 18,874
Liabilities
non-current liabilities
Financial liabilities
Borrowings 21 453 81
Lease liabilities 41 5,405 425
Other fnancial liabilities 22 425 24
Employee benefts obligation 23 192 78
Other non-current liabilities 24 77 10
Total non-current liabilities 6,552 618
Current liabilities
Financial liabilities
Borrowings 25 110 78
Trade payables
a) dues of micro enterprises and small enterprises 26 - 50
b)dues of creditors other than micro enterprises and small enterprises 1,535 738
Lease liabilities 41 3,889 171
Other fnancial liabilities 27 3,095 1,357
Other current liabilities 28 489 167
Employee benefts obligation 29 24 4
Total current liabilities 9,142 2,565
Total liabilities 15,694 3,183
Total equity and liabilities 39,176 22,057
Summary of signifcant accounting policies 2
Other notes 38 to 60
The accompanying notes are an integral part of the consolidated financial statements.
----- End of picture text -----

As per our report of even date For and on behalf of the Board For M s K A & Associates onkar shetye Chartered Accountants Executive director ICAI Firm Registration no.: 105047w dIn - 06372831

vasant gujarathi

Chartered Accountants

non-Executive and Independent director dIn - 06863505

ICAI Firm Registration no.: 105047w

vishal vilas divadkar Partner

Kunal Karan Chief Financial Officer

sonia Jain

Company Secretary M no - A52138

Membership no.: 118247

Place: Mumbai date: April 27, 2023

Place: navi Mumbai date: April 27, 2023

ConsoLIdATed sTATeMenT oF PRoFIT And Loss FOR THE YEAR ENDED MARCH 31, 2023

FOR THE YEAR ENDED MARCH 31, 2023
	(Amount in`Lakhs, unless otherwise stated)
Particulars	notes	year ended March 31, 2023	year ended March 31, 2022
InCoMe
Revenue from operations	30	12,687	1,579
Other income	31	1,218	522
Total income		13,905	2,101
eXPenses
Cost of Good Sold	32	124	-
Employee benefts expenses	33	5,558	1,771
Finance costs	34	852	25
depreciation and amortization expenses	35	3,849	278
Other expenses	36	8,512	1,638
Total expenses		18,895	3,712
Loss before exceptional items, share of net loss of investments accounted using the equity method and tax		(4,990)	(1,611)
Share of Loss of Investments accounted for using Equity Method		(117)	(68)
Loss before tax		(5,107)	(1,679)
Tax (beneft) / expense
Current tax		0	-
deferred tax	37	(1,077)	(352)
Total tax (beneft) / expense		(1,077)	(352)
Loss for the year		(4,030)	(1,327)
Other comprehensive (loss) / income
Items that will not be reclassifed subsequently to proft or loss
Remeasurement Gains / (losses) on gratuity plan		1	(11)
Tax on Remeasurement Gains / (losses) on gratuity plan		0	3
Items that will be reclassifed subsequently to proft or loss
Exchange differences on translation of foreign operations		20	(1)
Total other comprehensive Income / (loss) for the year		21	(9)
Total comprehensive (loss) for the year, net of tax		(4,009)	(1,336)
Loss attributable to:
Equity shareholders of the Company		(2,889)	(1,116)
non-controlling interest		(1,141)	(211)
Other comprehensive (loss) / income attributable to:
Equity shareholders ofthe Company		6	(6)
non-controllinginterest		14	(3)
Total comprehensive loss attributable to:
Equity shareholders of the Company		(2,882)	(1,122)
non-controllinginterest		(1,127)	(214)
earning per share of ` 5/- each
Basic (`)		(7.51)	(3.90)
diluted (`)		(7.51)	(3.90)
Summary ofsignifcantaccounting policies	2
Other notes	38 to60
The accompanying notes are an integral part of the consolidated fnancial statements. As per our report of even date For and on behalf of the Board For M s K A & Associates onkar shetye vasant gujarathi Chartered Accountants Executive director non-Executive and Independent director ICAI Firm Registration no.: 105047w dIn - 06372831 dIn - 06863505 vishal vilas divadkar Kunal Karan sonia Jain Partner Chief Financial Offcer Company Secretary Membership no.: 118247 M no - A52138 Place: Mumbai Place: navi Mumbai date: April 27, 2023 date: April 27, 2023

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ConsoLIdATed sTATeMenT oF CHAnges In equITy FOR THE YEAR ENDED MARCH 31, 2023

(A) equITy sHARe CAPITAL

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|---|---|
||As at March 31, 2023||As at March 31, 2022||
||no. of shares|Amount|no. of shares|Amount|
|Equity shares of`5/- each issued, subscribed
and fully paid|||||
|Opening|2,86,29,689|1,431|2,86,29,689|1,431|
|Add: Shares issued on Right issue|4,29,44,533|537|-|-|
|Closing|7,15,74,222|1,968|2,86,29,689|1,431|

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(c) Capital redemption reserve

As per Companies Act, 2013, capital redemption reserve is created when company purchases its own shares out of free reserves or securities premium. A sum equal to the nominal value of the shares so purchased is transferred to capital redemption reserve. The reserve is utilized in accordance with the provisions of section 69 of the Companies Act, 2013.

(d) Retained earnings

Retained earnings comprise of the Group’s prior years undistributed earnings after taxes.

(e) Foreign currency translation reserve

(B) oTHeR equITy

|||||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount in`Lakhs, unless otherwise stated)|
|---|---|---|---|---|---|---|
|||Reserves and surplus|||Items of oCI|Total|
||employee
stock options
outstanding
account|securities
premium|Capital
redemption
reserve|Retained
earnings|Foreign
currency
translation
reserve||
|Balance as at March 31, 2021|-|13,548|79|2,476|-|16,102|
|Loss for the year|-|-|-|(1,116)|-|(1,116)|
|Other comprehensive loss (OCI) for
the year|-|-|-|(5)|(1)|(6)|
|Total comprehensive loss for the
year|-|-|-|(1,121)|(1)|(1,121)|
|On
account
of
acquizition
of
subsidiary|-|311|-|-|-|311|
|Employee stock option scheme
compensation|86|-|-|-|-|86|
|Balance as at March 31, 2022|86|13,859|79|1,355|(1)|15,377|
|Loss for the year||||(2,892)||(2,892)|
|Other comprehensive income (OCI)
for the year|||||8|8|
|Total
comprehensive
income
/
(loss) for the year|-|-|-|(2,892)|8|(2,884)|
|Security premium received on right
issue of shares|-|7,692|-|-|-|7,692|
|Convertion of convertible note into
equity and payment of balance|-|-|-|(106)|-|(106)|
|Share of opening minority interest
on change of holding percentage|-|-|-|(55)|-|(55)|
|Employee stock option scheme
compensation|92|-|-|-|-|92|
|Employee stock option scheme
compensation of subsidiaries|169|-|-|-|-|169|
|Balance as at March 31, 2023|347|21,551|79|(1,698)|7|20,285|

The exchange differences arising from the translation of financial statements of foreign operations with functional currency other than Indian Rupee is recognized in other comprehensive income and is presented within equity in the foreign currency translation reserve.

The accompanying notes 1 to 60 are an integral part of the consolidated financial statements.

As per our report of even date For and on behalf of the Board For M s K A & Associates onkar shetye vasant gujarathi Chartered Accountants Executive director non-Executive and Independent director ICAI Firm Registration no.: 105047w dIn - 06372831 dIn - 06863505 vishal vilas divadkar Kunal Karan sonia Jain Partner Chief Financial Officer Company Secretary Membership no.: 118247 M no - A52138 Place: Mumbai Place: navi Mumbai date: April 27, 2023 date: April 27, 2023

nATuRe And PuRPose oF ReseRve

(a) employee stock options outstanding account (esooA)

The Employee stock options outstanding account is used to record the fair value of equity-settled share based payment transactions. The amounts recorded in this account are transferred to share premium upon exercise of stock options. In case of cancellation of options, corresponding balance is transferred to retained earnings.

(b) securities premium

Amounts received on issue of shares in excess of the par value has been classified as securities premium.

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ConsoLIdATed sTATeMenT oF CAsH FLows FOR THE YEAR ENDED MARCH 31, 2023

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(Amount in ` Lakhs, unless otherwise stated)
Particulars year ended year ended
March 31, 2023 March 31, 2022
Cash fow from operating activities
(Loss)/ Proft before exceptional items and tax (4,991) (1,611)
Adjustments for:
depreciation and amortization expenses 2,179 278
Employee stock option scheme compensation 261 86
Finance costs 926 25
Interest income on fxed deposit and income tax refund (351) (164)
Proft on sale and revaluation of current investments ( mutual funds ) (20) (334)
Interest income on unwinding of fnancial instruments (17) -
Rent concession and liability no longer required written back (503) -
Income on derecognition of lease liability (9) -
Reversal of compensated absence expenses - (22)
Loss on sale of property, plant and equipment (8) -
Gain on fair valuation of security deposit (net) - -
Exchange differences on translation of assets and liabilities, net. 20 -
Operating (loss)/ proft before working capital changes (2,384) (1,700)
Changes in working capital:
(Increase) / decrease in non current and current fnancial assets (1,107) (159)
Increase in non-current and current other assets (650) (182)
Increase / (decrease) in non-current and current other fnancial liabilities (786) 197
Increase/ (decrease) in non-current and current provisions 43 (305)
Increase in trade payables 585 225
Increase in trade receivable (1,016) (191)
Increase/ (decrease) in non-current and current other current liabilities 703 (176)
Cash used in operations (4,612) (2,291)
Income tax paid (net) (392) (135)
Interest on income tax refund (2) -
Net cash fows used in operating activities (A) (5,006) (2,426)
Cash fow from investing activities
Payment for property, plant and equipment, intangible asset, capital work in progress (1,881) (880)
and Intangible assets under development
Proceeds from sale of property, plant and equipment 8 2
Payment for intangible assets (78) -
Payment for purchase of investment in associates - (999)
Payment on acquisition of subsidiaries (5,661) (1,800)
Net proceeds from /(investment in) mutual funds 1,840 11,551
Net proceeds from /(investment in) fxed deposits 853 (2,584)
Proceeds from bank balances other than cash and cash equivalent - -
Interest received 373 229
Net cash fow generated from investing activities (B) (4,546) 5,519
Cash fow from fnancing activities
Proceeds from issue of equity shares (net) 8,201 -
(Repayment of ) / proceeds from borrowings 401 (15)
Repayment of lease liability (505) (50)
Interest and other fnance charges paid (99) (30)
Net cash fow used in fnancing activities (C) 7,998 (95)
Net increase / (decrease) in cash and cash equivalents (A+B+C) (1,554) 2,998
Cash and cash equivalents at the beginning of the year 3,411 53
Cash and cash equivalents on acquistion of subsidiary 170 360
Cash and cash equivalents at the end of the year 2,027 3,411
Cash and cash equivalents comprise (Refer note 14)
Balances with banks
Current accounts 890 1,138
Fixed deposit with maturity for less than 3 months 1,137 2,273
Total cash and cash equivalents at end of the year 2,027 3,411
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The above cash flow statement has been prepared under the ‘Indirect Method’ as set out in Ind AS-7 “ Statement of Cash Flows”.
Previous year figures have been regrouped or reclassified wherever necessary.

The accompanying notes 1 to 60 are an integral part of the consolidated financial statements.

Place: Mumbai Place: navi Mumbai date: April 27, 2023 date: April 27, 2023

noTes FoRMIng PART oF THe ConsoLIdATed FInAnCIAL sTATeMenTs FOR THE YEAR ENDED MARCH 31, 2023

1 geneRAL InFoRMATIon

Aurum PropTech Limited (Formerly known as Majesco Limited.) is a public limited company domiciled in India and is listed on the BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).

The Group is in the business of software development for real estate and other services relating to real estate.

The board of directors approved the consolidated financial statements for the year ended March 31, 2023 and authorized for issue on April 27, 2023

The details of subsidiaries and associates (refer note 58), considered in these consolidated financial statements are:

name of the Company	Country of Incorporation	Relation	% of effective voting power held as at March 31, 2023	% of effective voting power held as at March 31, 2022
K2V2 Technologies Private Limited	India	Subsidiary	44.44	44.44
Aurum Softwares and Solutions Private Limited	India	Subsidiary	100.00	100.00
Aurum RealTech Services Private Limited	India	Subsidiary	100.00	100.00
Monk Tech Labs Pte. Ltd.	India	Subsidiary	40.00	40.00
Integrow Asset Managemet Private Limited	India	Associate (upto August 31,2022)	-	49.13
Helloworld Technologies India Private Limited	India	Subsidiary (w.e.f. June 17, 2022)	100.00	-
Integrow Asset Managemet Private Limited	India	Subsidiary (w.e.f. September 01,2022)	49.13	-
Aurum Analytica Private Limited (formerly known as Blink Advisory Private Limited)	India	Subsidiary (w.e.f. October 15, 2022)	100.00	-

(b) Basis of measurement

2 suMMARy oF sIgnIFICAnT ACCounTIng PoLICIes

The financial statements have been prepared on a historical cost convention on accrual basis, except for the following material items that have been measured at fair value as required by relevant Ind AS:-

2.1 Basis of preparation and presentation

(a) statement of Compliance with Ind As

The consolidated financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act ,2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter. Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

i) Certain financial assets and liabilities measured at fair value (refer accounting policy 2.13)
ii) Share based payment transactions
iii) Defined benefit and other long-term employee benefits

All assets and liabilities have been classified as current or non-current as per the Group’s operating cycle and other criteria set out in the Schedule III to the Companies Act, 2013

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(‘the Act’). Based on the nature of services and the time between the rendering of service and their realization in cash and cash equivalents, the Group has ascertained its operating cycle as twelve months for the purpose of current and non-current classification of assets and liabilities.

available, the Group engages third party valuers, where required, to perform the valuation. Information about the valuation techniques and inputs, used in determining the fair value of various assets, liabilities and share based payments are disclosed in notes to financial statements.

iii) Actuarial valuation:

(c) use of estimates

The preparation of financial statements in conformity with Ind AS requires the management to make estimate and assumptions that affect the reported amount of assets and liabilities as at the Balance Sheet date, reported amount of revenue and expenses for the year and disclosures of contingent liabilities as at the Balance Sheet date. The estimates and assumptions used in the accompanying financial statements are based upon the management’s evaluation of the relevant facts and circumstances as at the date of the financial statements. Actual results could differ from these estimates. Estimates and underlying assumptions are reviewed on a periodic basis. Revisions to accounting estimates, if any, are recognized in the year in which the estimates are revised and in any future years if the revision effects such periods. Also key sources of estimation uncertainty is mentioned below:

The determination of Group’s liability towards defined benefit obligation to employees is made through independent actuarial valuation including determination of amounts to be recognized in the statement of profit or loss and in other comprehensive income. Such valuation depend upon assumptions determined after taking into account inflation, seniority, promotion and other relevant factors such as supply and demand factors in the employment market. Information about such valuation is provided in notes to financial statements.

2.2 Property, plant and equipment

Property, plant and equipment are stated at cost of acquisition less accumulated depreciation and accumulated impairment losses, if any. Direct costs are capitalized until the assets are ready for use and include inward freight, and expenses incidental to acquisition and installation. Subsequent expenditures related to an item of property,plant and equipment are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard of performance.

i) useful lives of property, plant and equipment and intangible assets: As described in the significant accounting policy, the Group reviews the estimated useful lives of property, plant and equipment and intangible assets at the end of each reporting period.

depreciation methods, estimated useful lives

depreciation on property, plant and equipment is provided when the assets are ready for use on the straight line method, on a pro rata basis, over the estimated useful lives of assets, in order to reflect the period over which the depreciable asset is expected to be used by the Group. Based on technical evaluation the management estimates the useful lives of significant items of property, plant and equipment as follows:

ii) The fair value measurements and valuation processes:

Some of the Group’s assets and liabilities are measured at fair value for financial reporting purposes. In estimating the fair value of an asset or liability, the Group uses market-observable data to the extent it is available. Where level 1 input are not

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

Property, plant and equipment	useful Life
Buildings	28years
Computers	2years
Plant and equipment	2 - 5years
Furniture and fxtures	5years
Vehicles	5years
Offce equipment	2 - 5years
Leasehold land	Lease term ranging from 95-99years

Intangible assets	useful Life
Computer Software	1-8years
Customer relationships	5years

Research costs are expensed as incurred. Software product development costs are expensed as incurred unless technical and commercial feasibility of the project is demonstrated, future economic benefits are probable, the Company has an intention and ability to complete and use or sell the software and the costs can be measured reliably. The costs which can be capitalized include the cost of material, direct labor, professional fees paid to consultants and overhead costs that are directly attributable to preparing the asset for its intended use. Research and development costs and software development costs incurred under contractual arrangements with customers are accounted as expenses in the Statement of Profit and Loss.

depreciation on addition to property, plant and equipment is provided on pro-rata basis from the date of acquisition.

2.4 Fair value measurement

The Group measures financial instruments, such as, derivatives at fair value at each Balance Sheet date.

Depreciation on sale/deduction from property, plant and equipment is provided up to the date preceding the date of sale, deduction as the case may be. Losses arising from the retirement of, and gains or losses arising from disposal of Property, plant and equipment measured as the difference between amount realized and net carrying value which are carried at cost are recognized in the Statement of Profit and Loss under ‘Other Income/Other Expenses’.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

In the principal market for the asset or liability, or

depreciation methods, useful lives and residual values are reviewed periodically at each financial year end and adjusted prospectively, as change in accounting estimates.

In the absence of a principal market, in the most advantageous market for the asset or liability accessible to the Group.

2.3 Intangible assets and amortization

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Intangible assets are recorded at the consideration paid for acquizition of such assets and are carried at cost of acquisition less accumulated amortization and impairment, if any.

The Group amortized intangible assets over their estimated useful lives using the straight line method. The estimated useful lives of intangible assets are as follows:

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities

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relationship between input and productivity.

Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable

The Groups revenue is categorized broadly into the following types:

i) Information technology Services
Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable
ii) Rent Income
i) Information technology services

The management determines the policies and procedures for both recurring fair value measurement and disclosures. For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

Revenue is recognized as the related services are performed and revenue from the end of the last invoicing to the reporting date is recognized as unbilled revenue.

ii) Rent Income

Rental income is recognized on a straight line basis over the term of the lease as per the terms of the base contract or such other systematic method as considered appropriate.

2.5 Revenue recognition

Revenue from operations:

The Group operations predominantly relate to providing software solutions in the real estate sector. Further, the Board of Directors of the Group in its meeting held on May 15, 2019 has approved to include in the main objects clause of Memorandum of Association of the Group, the business of leasing of immovable and movable properties of all kinds. Accordingly, Group has shown its income from Rent also as revenue from operations.

2.6 other Income

dividend income from investments is recognized when the right to receive payment is established. Interest income is recognized on time proportion basis taking into account the amount outstanding and the applicable rate of interest. Income from current investments are recognized periodically based on fair value through profit and loss (FVTPL) as on reporting date. Retained gain / loss are recognized on the date on which these investments are sold.

a) Time and material contracts

Revenue on time-and-material contracts are recognized as the related services are performed and revenue from the end of the last invoicing to the reporting date is recognized as unbilled revenue.

2.7 Taxes

Tax expense for the year comprises of current tax and deferred tax. Current tax is measured by the amount of tax expected to be paid to the taxation authorities on the taxable profits after considering tax allowances and exemptions and using applicable tax rates and laws.

b) Fixed-price contracts

Revenue from fixed-price, fixed-time frame contracts, where the performance obligations are satisfied over time and where there is no uncertainty as to measurement or collectability of consideration, is recognized as per the percentage-of-completion method. When there is uncertainty as to measurement or ultimate collectability, revenue recognition is postponed until such uncertainty is resolved. Efforts or costs expended are used to measure progress towards completion as there is a direct

(a) Current income tax

Current income tax relating to items recognized outside profit or loss is recognized outside profit or loss (either in other comprehensive income or in equity). Current tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity.

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

current tax and where the deferred tax assets and liabilities relate to taxes on income levied by the same governing taxation laws.

Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

2.8 Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

(b) deferred tax

deferred income tax is recognized using the balance sheet approach. Deferred income tax assets and liabilities are recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount, except when the deferred income tax arizes from the initial recognition of an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction.

2.9 Leases

As a lessor

Leases for which the Group is a lessor are classified as finance or operating leases. Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases.

Rental income from operating leases is recognized on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized on a straight-line basis over the lease term.

deferred income tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilized.

Amounts due from lessees under finance leases are recognized as receivables at the amount of the Group’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Group’s net investment outstanding in respect of the leases.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to be received or settled.

As a lessee

The Group assesses whether a contract is or contains a lease, at inception of the contract. The Group recognises a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value

deferred tax assets and liabilities are offset when there is a legally enforceable right to set off assets against liabilities representing the

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assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, the Group recognises the lease payments as an operating expense on a straightline basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.

by discounting the revised lease payments using a revised discount rate.

The lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used).

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate.

A lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a revized discount rate at the effective date of the modification.

Lease payments included in the measurement of the lease liability comprise:

Fixed lease payments (including in-substance fixed payments), less any lease incentives receivable;

The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses.

Variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date;
The amount expected to be payable by the lessee under residual value guarantees;

Right-of-use assets are depreciated over the shorter period of lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Group expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease.

The exercise price of purchase options, if the lessee is reasonably certain to exercise the options; and
Payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease.

The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.

The right-of-use assets are presented as a separate line in the balance sheet.

The Group applies Ind AS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in the ‘Property, Plant and Equipment’ policy. Variable rents that do not depend on an index or rate are not included in the measurement the lease liability and the right-of-use asset. The related payments are recognized as an expense in the period in which

The Group remeasures the lease liability (and makes a corresponding adjustment to the related right-ofuse asset) whenever:

The lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

made, a disclosure is made as a contingent liability. A disclosure for a contingent liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Provisions are reviewed regularly and are adjusted where necessary to reflect the current best estimates of the obligation. Where the Group expects a provision to be reimbursed, the reimbursement is recognized as a separate asset, only when such reimbursement is virtually certain.

the event or condition that triggers those payments occurs and are included in the line “Other expenses” in profit or loss.

2.10 Impairment of non-financial assets

At each Balance Sheet date, the Group assesses whether there is any indication that an asset may be impaired. If any such indication exists, management estimates the recoverable amount. Recoverable amount is higher of an asset’s net selling price and value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of the its useful life. If the carrying amount of the asset exceeds its recoverable amount, an impairment loss is recognized in the Profit and Loss Statement to the extent carrying amount exceeds recoverable amount. Assessment is also done at each Balance sheet date as to whether there is any indication that an impairment loss recognized for an asset in prior accounting periods may no longer exists or may have decreased.

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

Goodwill is tested for impairment annually and when circumstances indicate that the carrying value may be impaired.

Impairment is determined for goodwill by assessing the recoverable amount of each Cash Generating unit (or group of CGus) to which the goodwill relates. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods.

A contingent liability recognized in a business combination is initially measured at its fair value. Subsequently, it is measured at the higher of the amount that would be recognized in accordance with the requirements for provisions above or the amount initially recognized less, when appropriate, cumulative amortization recognized in accordance with the requirements for revenue recognition.

Intangible assets with indefinite useful lives are tested for impairment annually at the CGu level, as appropriate, and when circumstances indicate that the carrying value may be impaired.

2.12 Cash and cash equivalents

The Group considers all highly liquid financial instruments, which are readily convertible into known amounts of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash equivalents consist of balances with banks which are unrestricted for withdrawal and usage.

2.11 Provision and contingent liabilities

Provisions are recognized when the Group has a present legal obligation as a result of past events, and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date. When no reliable estimate can be

2.13 Financial instruments

All financial instruments are recognized initially at fair value. Transaction costs that are attributable

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Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

to the acquisition of the financial asset (other than financial assets recorded at fair value through profit or loss) are included in the fair value of the financial assets. Purchase or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trade) are recognized on trade date. While, loans and borrowings and payables are recognized net of directly attributable transaction costs.

at fair value plus transaction costs and subsequently carried at amortized cost using the effective interest method, less any impairment loss.

Amortized cost are represented by trade receivables, security deposits, cash and cash equivalents, employee and other advances and eligible current and noncurrent assets.

(ii) debt instruments at FvToCI

For the purpose of subsequent measurement, financial instruments of the Group are classified in the following categories: non derivative financial assets comprising amortized cost, debt instruments at fair value through other comprehensive income (FVTOCI), equity instruments at FVTOCI or fair value through profit and loss account (FVTPL), non derivative financial liabilities at amortized cost or FVTPL and derivative financial instruments (under the category of financial assets or financial liabilities) at FVTOCI.

A debt instrument is measured at fair value through other comprehensive income if both of the following conditions are met:

(a) the objective of the business model is achieved by both collecting contractual cash flows and selling financial assets and
(b) the asset’s contractual cash flow represent SPPI
Debt instruments included within FVTOCI category are measured initially as well as at each reporting period at fair value plus transaction costs. Fair value movements are recognized in other comprehensive income (OCI). However, the Group recognizes interest income, impairment losses & reversals and foreign exchange gain/(loss) in statement of profit and loss. On derecognition of the asset, cumulative gain or loss previously recognized in OCI is reclassified from equity to profit and loss. Interest earned is recognized under the effective interest rate (EIR) model.

a) Non-derivative financial assets

(i) Financial assets at amortized cost

A financial asset is measured at amortized cost if both of the following conditions are met:

(a) the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and

2.14 Employee benefits

(b) the contractual terms of the financial asset give rize on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding.

(a) short-term obligations

The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by employees is recognized in the year during which the employee rendered the services. These benefits comprise compensated absences such as paid annual leave and performance incentives.

They are presented as current assets, except for those maturing later than 12 months after the reporting date which are presented as non-current assets. Financial assets are measured initially

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(b) Other long-term employee benefit obligations

method used by independent actuary for measuring the liability is the projected unit credit method. Actuarial gains and losses are recognized immediately in the Statement of Profit and Loss as income or expense.

Defined contribution plan

(i)

The Group has defined contribution plans for post employment benefits in the form of provident fund, employees’ state insurance, labour welfare fund, pension fund (nPS) and superannuation fund in India which are administered through Government of India and/or Life Insurance Corporation of India (LIC). The Group also makes contributions towards defined contribution plans in respect of its subsidiaries, as applicable. Under the defined contribution plans, the Group has no further obligation beyond making the contributions. Such contributions are charged to the Statement of Profit and Loss as incurred.
(c) share based payments

Employee stock options:

Stock options granted to employees of the Company and its subsidiaries under the stock option schemes are covered by Securities and Exchange Board of India (Share based employee benefits) Regulations. 2014. The subsidiary of the Group also has stock option scheme, where options are granted to employees, consultants, directors at an exercise or grant price determined by the Board of Directors on the date of grant. The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model, based on the estimated fair value of the award and recognizes the cost on a straight-line basis (net of estimated forfeitures) over the employee’s requisite service period for the entire award. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture activity differs materially from the original estimates. The Group estimates the fair value of stock options using a BlackScholes valuation model. The cost is recorded in Employee benefits expenses.

(ii) Defined benefit plans

gratuity: The Group has defined benefit plans for post employment benefits in the form of gratuity for its employees in India. The gratuity scheme of the Group is administered through Life Insurance Corporation of India (LIC). Liability for defined benefit plans is provided on the basis of actuarial valuations, as at the Balance Sheet date, carried out by an independent actuary. The actuarial valuation method used by independent actuary for measuring the liability is the projected unit credit method. Actuarial gains and losses are recognized immediately in the Other Comprehensive Income (OCI) as income or expense (net of taxes).

2.15 Business combination, goodwill and intangible assets

Compensated absences: The employees of the Group are also entitled for other long-term benefit in the form of compensated absences as per the policy of the Group. Leave encashment vests to employees on an annual basis for leave balance above the upper limit as per the Group’s policy. At the time of retirement, death while in employment or on termination of employment leave encashment vests equivalent to salary payable for number of days of accumulated leave balance subject to an upper limit as per the Company’s policy. Liability for such benefit is provided on the basis of actuarial valuations, as at the Balance Sheet date, carried out by an independent actuary. The actuarial valuation

Business combinations are accounted for using the purchase (acquisition) method. The cost of an acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. The cost of acquisition also includes the fair value of any contingent consideration. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value on the date of acquisition. Transaction costs incurred in connection with a business combination are expensed as incurred.

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Governance Financial Statements

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date. The diluted potential equity shares have been adjusted for the proceeds receivable had the shares been actually issued at fair value i.e. average market value of outstanding shares.

a) goodwill on consolidation:

Goodwill arising on consolidation is stated at cost less impairment losses, where applicable. On disposal of a subsidiary, attributable amount of goodwill is included in the determination of the profit or loss recognized in the Statement of Profit and Loss. On acquisition of an associate or joint venture, the goodwill/capital reserve arising from such acquisitions included in the carrying amount of the investment and also disclosed separately. Impairment loss, if any, to the extent the carrying amount exceed the recoverable amount is charged off to the Statement of Profit and Loss as it arizes and is not reversed. For impairment testing, goodwill is allocated to Cash Generating unit (CGu) or group of CGus to which it related, which is not larger than an operating segment, and is monitored for internal management purposes.

The number of shares and potentially dilutive shares are adjusted for share splits and bonus shares, as appropriate. In calculating diluted earnings per share, the effects of anti dilutive potential equity shares are ignored. Potential equity shares are anti-dilutive when their conversion to equity shares would increase earnings per share or decrease loss per share.

2.18 segment Reporting

The Group operations predominantly relate to providing software solutions in the real estate sector. The organizational and reporting structure of the Group is based on Strategic Business units (SBU) concept. The SBU’s are primarily cost centre segments. SBU’s are the operating segments for which separate financial information is available and for which operating results are evaluated regularly by management in deciding how to allocate resources and in assessing performance. The Chief Operating decision Maker (COdM) reviews the operations of the group as one operating segment on the basis of SBUs.

b) Intangible assets

Ind AS 103 requires the identifiable intangible assets and contingent consideration to be fair valued in order to ascertain the net fair value of identifiable assets, liabilities and contingent liabilities of the acquire. Significant estimates are required to be made in determining the value of contingent consideration and intangible assets. Theses valuations are conducted by independent valuation experts.

The Group’s primary reportable segments consist of the following SBus, which are based on the risks and returns in different areas of the operations: Software as a Service (SAAS), Real Estate as a Service (RAAS) and Others. ‘Others’ include operations of the Group not forming part of reportable segments. SAAS operations comprise of activities where the Group derives revenue from customers for the use of the IT products it owns. RAAS operations comprise of activities where the Group derives revenue from customers on use of real estate related services it provides.

2.16 Contributed equity

Equity shares are classified as equity share capital

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.17 earnings per share

Basic earnings per share (EPS) are calculated by dividing the net loss / profit after tax for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by adjusting the number of shares used for basic EPS with the weighted average number of shares that could have been issued on the conversion of all dilutive potential equity shares. Dilutive potential

2.19 Rounding off amounts

All amounts disclosed in financial statements and notes have been rounded off to the nearest Lakhs as per requirement of Schedule III of the Act, unless otherwise stated.

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

In case of loss of control of subsidiaries, any excess of fair value of consideration received over carrying amount of the assets (including any goodwill) and liabilities of the subsidiaries, is recognized as gain or loss in statement of profit and loss. Additionally components of other comprehensive income of subsidiaries are reclassified to statetment of profit and loss or transferred directly to retained earnings. InterGroup transaction, balances and unrealized gains on transactions between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction provide evidence of an impairment of the assets transferred.

3 BAsIs oF ConsoLIdATIon And deConsoLIdATIon

The Consolidated Financial Statements (CFS) - consolidates the financial statements of the Group and its subsidiaries.. The assets, liabilities, income and expenses of subsidiaries are aggregated and consolidated, line by line, from the date control is acquired by any Group entity to the date it ceases. Profit or loss and each component of other comprehensive income are attributed to the Group as owners and to the non-controlling interests. The Group presents the non-controlling interests in the Balance Sheet separately from the equity of the Group as owners. The excess of the Group’s investment in a subsidiary over its share in the net worth of such subsidiary on the date control is acquired is treated as goodwill while a deficit is considered as a capital reserve in the CFS. On disposal of the subsidiary, attributable amount on goodwill is included in the determination of the profit or loss and recognized in the Statement of Profit and Loss. Impairment loss, if any, to the extent the carrying amount exceeds the recoverable amount is charged off to the Statement of Profit and Loss as it arizes and is not reversed. For impairment testing, goodwill is allocated to Cash Generating unit (CGu) or a Group of CGus to which it relates, which is not larger than an operating segment, and is monitored for internal management purposes. The proportionate share of the Group in the net profits/ losses as also in the other comprehensive income is recognized in the Statement of Profit and Loss and the carrying value of the investment is adjusted by a like amount (referred as ‘equity method’). All intraGroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.

4 ReCenT ACCounTIng PRonounCeMenTs

Proceeds before intended use of property, plant and equipment- Ind AS 16, Property, Plant and Equipment
Onerous Contracts – Cost of fulfilling a contract- Ind AS 37, Provisions, Contingent Liabilities and Contingent Assets
References to the conceptual framework- Ind AS 103, Business combinations
Fees included in the 10% test for derecognition of financial liabilities- Ind AS 109, Financial Instruments

These amendments are not expected to have a material impact on the group in the current or future reporting periods and on foreseeable future transactions.

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Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

|(Amount inLakhs, unless otherwise stated)|**net block**| **As at** **March 31,** **2022**|| 2,497| 123| 271| 12| -| 11|**2,913**|| 137| -|**137**|**3,050**|(Amount inLakhs, unless otherwise stated)|net block|

As at
March 31,
2021||
720|
4|
1|
4|
1|730||
139|
139|
869|note:
during year ended March 31, 2022, the Company has capitalised`2,162 Lakhs from capital work in progress to Property, Plant & Equipment (PPE) after
receiving occupancy certifcate from Maharashtra Industrial Development Corporation (MIDC) on August 26, 2021. The Company has capitalised the
building under PPE using the component accounting method and proportionate depreciation has been charged in the proft and loss during the year
ended March 31, 2022.|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||

As at
March 31,
2023||
2,386|
151|
291|
280|
35|
98|3,242||
135|
342|477|3,719|||

As at
March 31,
2023||
2,497|
123|
271|
12|
11|2,913||
137|
137|
3,051||
||depreciation|As at
March 31,
2023||
692|
222|
339|
416|
6|
137|
1,812||
35|
93|
128|
1,940||depreciation|As at
March 31,
2023||
581|
22|
62|
31|
12|
709||
33|
33|
741||
|||Addition on
account of
acquizition
of subsidiary||
-|
67|
164|
363|
0|
82|676||
-|
-|-|676|||Addition on
account of
acquizition
of subsidiary||
-|
-|
-|
-|
-|
-||-|-|-||
|||Foreign
exchange
translation
adjustments||
-|
-|-|-|
-|
-|-||
-|
-|
-||||Foreign
exchange
translation
adjustments||
-|-|
-|-|-|-||||||
|||

Deductions/
Adjustments||
-|
-|
(8)|
(12)|
-|
-|(20)||
-|
-|-|(20)|||

Deductions/
Adjustments||
-|
(2)|
-|
(0)|
(0)|(2)||
-|
-|
(2)||
|||

For the
year||
111|
133|
121|
34|
6|
43|448||
2|
93|95|543|||

For the
year||
84|
23|
37|
2|
3|149||
2|
2|
151||
|||

As at
April 01,
2022||
581|
22|
62|
31|
-|
12|708||
33|
-|33|741|||

As at
April 01,
2022||
497|
1|
25|
29|
9|561||
31|
31|
592||
||gross block|As at
March 31,
2023||
3,078|
373|
630|
696|
41|
235|
5,053||
170|
435|
605|
5,658||gross block|As at
March 31,
2023||
3,078|
145|
333|
43|
23|
3,622||
170|
170|
3,792||
|||Addition on
account of
acquizition
of subsidiary||
-|
84|
210|
399|
1|
95|789||
-|
-|-|789|||Addition on
account of
acquizition
of subsidiary||
-|
-|
-|
-|
-|-||-|-|-||
|||Foreign
exchange
translation
adjustments||
-|
-|-|-|
-|
-|-||
-|
-|
-||||Foreign
exchange
translation
adjustments||
-|-|
-|-|-|-||||||
|||Deductions/
Adjustments||
-|
-|
(10)|
(12)|
-|
-|(22)||
-|
-|-|(22)|||Deductions/
Adjustments||
-|
(4)|
-|
(0)|
(0)|(4)||
-|
-|
(4)||
|||

Additions/
Adjustments||
-|
144|
97|
266|
40|
117|664||
-|
435|435|1,099|||

Additions/
Adjustments||
1,862|
144|
306|
10|
13|2,335||
-|
-|
2,335||
|||As at
April 01,
2022||3,078|145|333|43|-|23|3,622||170|-|170|3,792|||As at
April 01,
2022||1,216|5|27|33|10|1,291||170|170|1,461||
||Particulars||A)
owned assets|Buildings|Computers|Plant and equipment
|Furniture and fxtures
|Electrical fttings and
installations
|Offce equipment|Total (A)|B)
Leased assets|Leasehold land|Leasehold
improvements|Total (B)|Total ( A + B )||Particulars||A)
owned assets|Buildings|Computers|Plant and equipment
|Furniture and fxtures
|Offce equipment|Total (A)|B)
Leased assets|Leasehold land|Total (B)|Total ( A + B )||

==> picture [9 x 11] intentionally omitted <==

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(ii) Capital work In Progress

Capital work In Progress	Capital work In Progress	Capital work In Progress
			(Amount in`Lakhs,unless otherwise stated) As at March 31, 2023 As at March 31, 2022 56 223 56 223
Particulars			As at March 31, 2023
Capital work-in-progress Total			56
			56
(a)	Capital work-in-progress ageing (Projects in progress)
	Particulars	Less than 1year	1-2years	Total
	Balance as of March 31,2022	(656)	878	223
	Balance as of March 31,2023	56	-	56

(b) There are no projects as Capital Work in Progess as at March 31, 2023, whose completion is overdue or cost of which has exceeds in comparison to its original plan.

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NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

|(Amount inLakhs, unless otherwise stated)|**net block**| **As at** **March 31,** **2022**| -| -| -| 1,145| -| -| 696| **1,841**|(Amount inLakhs, unless otherwise stated)|net block|

As at
March 31,
2021|
-|
-|
-|
-|
-|
-|
-|
-|note:
(a)
Intangible asset as at March 31, 2023 and March 31, 2022 includes software’s being developed internally.
(b)
The Company has not revalued its Intangible Assets during the current year and previous year.|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||

As at
March 31,
2023|
-|
-|
-|
1,934|
-|
-|
1,665|
3,599|||

As at
March 31,
2023|
-|
-|
-|
1,145|
-|
-|
696|
1,841||
||depreciation|As at
March 31,
2023|
-|
-|
-|
382|
-|
-|
355|
737||depreciation|As at
March 31,
2023|
-|
-|
-|
32|
-|
-|
6|
38||
|||Addition on
account of
acquizition
of subsidiary|
-|
-|
-|
60|
-|
-|
-|60|||Addition on
account of
acquizition
of subsidiary|
-|
-|
-|
-|
-|
-|-|-||
|||Foreign
exchange
translation
adjustments|
-|
-|
-|
-|
-|
-|
-|
-|||Foreign
exchange
translation
adjustments|
-|
-|
-|
-|
-|
-|
-|
-||
|||

Deductions/
Adjustments|
-|
-|
-|
-|
-|
-|
-|
-|||

Deductions/
Adjustments|
-|
-|
-|
-|
-|
a|
-|
-||
|||For the
year|-|-|-|290|-|-|349|639|||For the
year|-|-|-|32|-|-|6|38||
|||

As at
April 01,
2022|
-|
-|
-|
32|
-|
-|
6|
38|||

As at
April 01,
2022|
-|
-|
-|
-|
-|
-|
-|
-||
||gross block|As at
March 31,
2023|
-|
-|
-|
2,316|
-|
-|
2,021|
4,337||gross block|As at
March 31,
2023|-|-|-|
1,177|
-|
-|
702|
1,878||
|||Addition on
account of
acquizition
of subsidiary|
-|
-|
-|
239|
-|
-|
1,319|1,558|||Addition on
account of
acquizition
of subsidiary||||
1,177|
-|
-|702|1,878||
|||Foreign
exchange
translation
adjustments|
-|
-|
-|
-|
-|
-|
-|-|||Foreign
exchange
translation
adjustments|
-|||
-|
-|
-|
-|
-||
|||Deductions/
Adjustments|
-|
-|
-|
-|
-|
-|
-|-|||Deductions/
Adjustments|
-|-|-|
-|
-|
-|
-|
-||
|||

Additions/
Adjustments|
-|
-|
-|
901|
-|
-|
-|901|||

Additions/
Adjustments|
-|||
-|
-|
-|
-|
-||
|||As at
April 01,
2022|-|-|-|1,177|-|-|702|1,878|||As at
April 01,
2022|-|-|-|-|-|-|-|-||
||Particulars||Technical know-how and
customer relationship|Technology|Trade name|Computer Software|Technology|Trade name|Customer relationships|Total||Particulars||Technical know-how and
customer relationship|Technology|Trade name|Computer Software|Technology|Trade name|Customer relationships|Total||

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(ii) Intangible assets under development

Intangible assets under development
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Intangible assets under development	164	66
Total	164	66
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2022	As at March 31, 2021
Intangible assets under development	66	-
Total	66	-

(a) Ageing schedule

As at March 31, 2023

==> picture [481 x 195] intentionally omitted <==

----- Start of picture text -----

(Amount in Lakhs, unless otherwise stated) CwIP Amount in CwIP for a period of Less than 1 1-2 years 2-3 years More than 3 year years Projects in progress 98.00 66.00 - - Projects temporarily suspended - - - - Total 98.00 66.00 - - As at March 31, 2022 (Amount in Lakhs, unless otherwise stated)
CwIP Amount in CwIP for a period of
Less than 1 1-2 years 2-3 years More than 3
year years
Projects in progress 66.00 - - -
Projects temporarily suspended - - - -
Total 66.00 - - -
----- End of picture text -----

(b) There are no projects as Intangible assets under development as at March 31, 2023, whose completion is overdue or cost of which has exceeds in comparison to its original plan.

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NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

7 RIgHT oF use AsseTs

RIgHT oF use AsseTs
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Opening balance	600	-
Add: Additions during the year	7,033	591
Adjustment on account of acquizition of subsidiary (net of depreciation)	3,416	74
Less: Amortization during the year	2,669	65
Closing balance	8,381	600

8 InvesTMenT ACCounTed usIng equITy MeTHod

InvesTMenT ACCounTed usIng equITy MeTHod
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Investment in equity instruments (unquoted)
Integrow Asset Management Private Limited
Cost of acquizition	999	999
Less: Share of loss	(170)	(53)
Less: Converted to Invetment in Subsidiary	(829)
Total	-	946

9 non-CuRRenT FInAnCIAL AsseTs- oTHeRs

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|As at
March 31, 2023|As at
March 31, 2022|
|Financials Intruments at Ammortized Cost|||
|Security deposits|531|104|
|In Fixed deposit with maturity for more than 12 months.|120|-|
|
Total|651|104|

10(i) DEfErrED TAx LIABILITy / (AssET) (NET)

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|As at
March 31, 2023|As at
March 31, 2022|
|deferred tax liability relating to|||
|On fair valuation gain on current investment|26|17|
|On property, plant and equipment|29|12|
|
Total (A)|55|29|
|deferred tax asset relating to
|||
|
On provision for employee benefts|33|20|
|
On carried forward business losses|1,257|416|
|On disallowance under Income Tax Act, 1961|282|35|
|On property, plant and equipment|137|-|
|
Total (B)|1,709|470|
|
deferred tax asset (net) (B)- (A)|
1,654|441|

10(ii) InCoMe TAX AsseTs (neT)

InCoMe TAX AsseTs (neT)
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Advance income tax (net)	1,551	1,109
Total	1,551	1,109

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

11 oTHeR non-CuRRenT AsseTs

oTHeR non-CuRRenT AsseTs
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
unsecured, consideredgood
Prepaid expenses	93	10
Lease Equalization	126	13
Total	220	23

12 CuRRenT InvesTMenTs

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----- Start of picture text -----

(Amount in Lakhs, unless otherwise stated) Particulars As at As at March 31, 2023 March 31, 2022 Investments carried at fair value through profit and loss (fVTPL) A. Investments in Mutual Funds (quoted) Axis ultra Short Term Fund - 3 Aditya Birla Sun Life Savings Fund - 306 Kotak Money Market scheme - 204 Aditya Birla Sun Life Money Manager Fund - 2,228 Aditya Birla Sun Life Liquid Fund - Growth - direct Plan 156 - Total (A) 156 2,741 B. other investments - unquoted Investments measured at amortized cost Fixed deposit with Housing development Finance Corporation Limited 1,100 1,000 ICICI Bank FdR (lien marked with ICICI credit card) 10 - Investment in Integrow Real Estate Special Situation Fund 1,500 - Total (B) 2,610 1,000 Total (A+B) 2,766 3,741 12.1. Aggregate value of quoted and unquoted investments is as follows: (Amount in Lakhs, unless otherwise stated)
Particulars As at As at
March 31, 2023 March 31, 2022
Aggregate book value of:
Quoted investments 156 2,741
unquoted investments 2,610 1,000
Aggregate market value of:
Quoted investments 156 2,741
Aggregate impairment of:
Quoted investments - -
unquoted Investments - -
----- End of picture text -----

12.1. Aggregate value of quoted and unquoted investments is as follows:

182

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Financial Statements

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NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

12.2. details of investments in Mutual Funds (quoted) designated at FvTPL:

details of investments in Mutual Funds (quoted) designated at FvTPL:	details of investments in Mutual Funds (quoted) designated at FvTPL:	details of investments in Mutual Funds (quoted) designated at FvTPL:	details of investments in Mutual Funds (quoted) designated at FvTPL:
(Amount in`lakhs,unless otherwise stated)
name of entity	Face value (in`)	number of units
		As at March 31, 2023	As at March 31, 2022
Aditya Birla Sun Life Liquid Fund - Growth - direct Plan	100/-	42,891	-
Aditya Birla Sun Life MoneyManager Fund	100/-	-	5,05,888
Aditya Birla Sunlife Savings Fund-Regular	1000/-	-	69,512
Axis ultra Short Term Fund - Regular Growth	10/-	-	26,901
Kotak MoneyMarket Scheme - Growth Regular Plan	1000/-	-	5,666

13 TRAde ReCeIvABLe

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----- Start of picture text -----

(Amount in Lakhs, unless otherwise stated) Particulars As at As at March 31, 2023 March 31, 2022 unsecured Considered good 1,857 777 Considered doubtful 70 123 Less : Allowance for bad and doubtful debts (70) (123) Total 1,857 777 Break up of trade receivables undisputed Trade receivables considered good 1,857 776 Undisputed Trade receivables which have significant increase in credit risk - - Undisputed Trade receivables – Credit impaired 70 96 disputed Trade receivables considered good - 1 Disputed Trade receivables which have significant increase in credit risk - - Disputed Trade receivables – Credit impaired - 27 Total 1,927 900 Less: Allowance for bad and doubtful debts (disputed + undisputed) (70) (123) Trade Receivables 1,857 777 (Amount in Lakhs, unless otherwise stated)
Particulars As at As at
March 31, 2023 March 31, 2022
Opening balance as the beginning of the year 123 -
Addition on account of acquizition of subsidiary 81
Movement in provision from doubtful debts (53) 42
Closing balance 70 123
----- End of picture text -----

Trade receivables ageing schedules for the year ended March 31, 2022 and year ended March 31, 2021:

undisputed Trade receivables – considered good

undisputed Trade receivables – considered good
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
unbilled	-	33
not due	143	217
Less than 6 Months	1,567	479
6 Months - 1 Year	142	39
1-2 Years	5	8
2-3 Years	-	-

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

==> picture [480 x 525] intentionally omitted <==

----- Start of picture text -----

(Amount in Lakhs, unless otherwise stated) Particulars As at As at March 31, 2023 March 31, 2022 More than 3 Years - - Total 1,857 777 undisputed Trade Receivables – credit impaired (Amount in Lakhs, unless otherwise stated)
Particulars As at As at
March 31, 2023 March 31, 2022
unbilled - -
not due - -
Less than 6 Months 14 -
6 Months - 1 Year - 8
1-2 Years 36 78
2-3 Years 15 10
More than 3 Years 5 -
Total 70 96
disputed Trade receivables – considered good
(Amount in Lakhs, unless otherwise stated) Particulars As at As at March 31, 2023 March 31, 2022 unbilled - - not due - - Less than 6 Months - - 6 Months - 1 Year - - 1-2 Years - 1 2-3 Years - 0 More than 3 Years - - Total - 1 disputed Trade Receivables – credit impaired (Amount in Lakhs, unless otherwise stated)
Particulars As at As at
March 31, 2023 March 31, 2022
unbilled - -
not due - -
Less than 6 Months - -
6 Months - 1 Year - -
1-2 Years - 3
2-3 Years - 24
More than 3 Years - -
Total - 27
----- End of picture text -----

184

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

14 CAsH And CAsH equIvALenTs

CAsH And CAsH equIvALenTs
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Cash and cash equivalents consists of the followings:
Balances with banks
Current accounts	890	1,138
Fixed deposit with maturityfor less than 3 months	1,137	2,273
Total	2,026	3,411

15 BAnK BALAnCes oTHeR THAn CAsH And CAsH equIvALenT

BAnK BALAnCes oTHeR THAn CAsH And CAsH equIvALenT
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
In Fixed deposit with maturity for more than 3 months but less than 12 months from balance sheet date
Restricted	-	-
Others	1,729	3,095
Earmarked balances with banks
unpaid dividend account	779	809
Total	2,508	3,904
LoAns	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
unsecured, consideredgood
Loans to
Employees	2	1
Total	2	1

16 LoAns

17 CuRRenT FInAnCIAL AsseTs - oTHeRs

CuRRenT FInAnCIAL AsseTs - oTHeRs
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
unsecured, consideredgood
Interest accrued on fxed deposits	62	54
In Fixed deposit with orginal maturityfor more than 12 months.	233	-
Securitydeposits - Current	373	10
Other receivables - Current Financial	368	61
Total	1,036	125

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

18 oTHeR CuRRenT AsseTs

oTHeR CuRRenT AsseTs
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
unsecured, consideredgood
Balance with statutoryauthorities	178	25
unbilled revenue	564	30
Loan to Employees	6	-
Advances to suppliers	70	117
Prepaid expenses	109	41
Other receivables	21	0
Others (Refer below note)	248	248
Total	1,197	463

note: Share of stamp duty 248 Lakhs,(March 31, 2021: 248 Lakhs) against demand on Mastek Limited by the office of the superitendent of Stamps, Gandhinagar, for implementation of the demerger scheme, paid under protest.

19 equITy sHARe CAPITAL

equITy sHARe CAPITAL
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
The Company has only one class of equity share capital having a par value of`5per share.
Authorized
20,00,00,000(March 31,2022: 20,00,00,000)EquityShares of`5/- each*	10,000	10,000
Total	10,000	10,000
Issued, subscribed and paid up
2,86,29,689 (March 31, 2022: 2,86,29,689) equity shares of`5/- each fully paid	1,431	1,431
4,29,44,533 (March 31, 2022: Nil) equity shares of`5/- each Partly paid-<br>up,`1.5/-paid-up	537	-
Total	1,968	1,431

*The Board of Directors of the Company in its meeting held on December 17, 2021 approved the increase in Authorized Share Capital of the Company to 10,000 Lakhs consisting of 20,00,00,000 equity shares of 5/- each. This has been approved by the Shareholders of the Company through a postal ballot on January 21, 2022.

(a) Reconciliation of equity shares outstanding at the beginning and at the end of the year

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|---|---|
|Type of Borrower|As at March 31, 2023||As at March 31, 2022||
||no. of shares|Amount|no. of shares|Amount|
|Outstandingat the beginningof theyear|2,86,29,689|1,431|2,86,29,689|1,431|
|Add : Shares issued on Right issue|4,29,44,533|537|-|-|
|outstanding at the end of the year|7,15,74,222|1,968|2,86,29,689|1,431|

(b) Rights, preferences and restrictions attached to shares:

equity shares: The Company has only one class of equity shares having par value of ` 5/- per share. Each shareholder is entitled to one vote per share held and carry a right to dividend. Dividend if any declared is payable in Indian Rupees.

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

The Board of Directors of the Company approved the Rights Issue (the Issue) of 4,29,44,533 equity shares of the Company for an issue size of approximately 34,356 Lakhs at a price of 80/- per fully paid equity shares (including a premium of 75/- per equity share) at a ratio of 3 equity shares for every 2 equity shares held, at its meeting held on December 17, 2021. The terms of payment of Issue price were 25% on application and balance in one or more calls as may be decided by the Board / Committee of the Board from time to time. On April 08, 2022, the Rights Issue committee (“the Committee”) approved Letter of Offer to be filed with Securities Exchange Board of India (SEBI) and finalised April 14, 2022 as the record date for the purpose of determining the equity shareholders who are eligible to apply for the equity shares in the Issue. After receiving approval from SEBI, the Issue was open during April 26, 2022 to May 10, 2022. The number of shares applied under the Issue was 4,56,34,534 partly paid equity shares which was 106.26 % of the Issue size. The shareholders have been allotted 4,29,44,533 partly paid equity shares at a price of 20/- (including a premium of ` 18.75/- per equity share) each on May 17, 2022 on proportionate basis.

Out of the total allotment of 4,29,44,533 partly paid equity shares, Aurum RealEstate Developers Limited (formerly known as Aurum RealEstate developers Private Limited ) was allotted 2,60,00,000 partly paid equity shares, totalling to 3,60,32,859 partly paid equity shares representing 50.34% of the voting share capital of the Company.

During the year ended March 31, 2023, the Company has issued 4,29,44,533 equity shares of 5 each with paid up value of 1.25 each. EPS of the current quarter and comparative periods in the results have been calculated giving effect of this new issue.

The Board of Directors in its meeting held in April 27, 2023, has approved the first call money of 20 (comprising 1.25 towards face value and ` 18.75 towards securities premium) per partly paid-up equity share.

The Rights issue proceeds are utilised in accordance with the objects of the issue as stated in the offer document. details of utilisation of rights issue proceeds are given below:

|effect of this new issue.
The Board of Directors in its meeting held in April 27, 2023, has approved the frst call money of20 (comprising 1.25 towards face value and18.75 towards securities premium) per partly paid-up equity share. The Rights issue proceeds are utilised in accordance with the objects of the issue as stated in the offer document. details of utilisation of rights issue proceeds are given below:|effect of this new issue. The Board of Directors in its meeting held in April 27, 2023, has approved the frst call money of20 (comprising
1.25 towards face value and18.75 towards securities premium) per partly paid-up equity share.
The Rights issue proceeds are utilised in accordance with the objects of the issue as stated in the offer document.
details of utilisation of rights issue proceeds are given below:|
|---|---|
|(Amount in`Lakhs, unless otherwise stated)||
|Particulars|March 31, 2023|
|source of Funds||
|Proceeds from issue|8,589|
|Interest earned|59|
|utilisation of Funds||
|Payment towards issue expenses|397|
|
Payment towards product development
|287|
|
Payment towards identifed Investments|5,698|
|
Payment towards funding inorganic growth initiavites and general corporate purpose|1,850|
|
unutilised funds|415|

(c) details of shares held by shareholders holding more than 5% of the aggregate shares in the Company:

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----- Start of picture text -----

name of the shareholder As at March 31, 2023 As at March 31, 2022
number of % of holding in number of % of holding in
shares the class shares the class
Aurum Realestate developers Private Limited 3,60,32,859 50.34% 1,00,32,859 35.04%
(formerly known as Aurum Platz IT Private
Limited)
Total 3,60,32,859 50.34% 1,00,32,859 7.55%
----- End of picture text -----

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(d) Change in shareholding of promoters are disclosed below:

name of Promoters	number of shares	% Total shares	% Changes during the year
As at March 31, 2023
Aurum Realestate developers Private Limited (formerly known as Aurum Platz IT Private Limited)	3,60,32,859	50.34%	15.30%
As at March 31, 2022
Aurum Realestate developers Private Limited (formerly known as Aurum Platz IT Private Limited)	1,00,32,859	35.04%	35.04%

(e) no class of shares have been issued as bonus shares or for consideration other than cash by the Company since its incorporation.
(f) Shares reserved for issue under options as at March 31, 2023 and March 31,2022, were 26,40,000 and 13,60,000 (Refer note 51)
(g) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company in proportion to the number of equity shares held by them.

20 oTHeR equITy

==> picture [481 x 297] intentionally omitted <==

----- Start of picture text -----

(Amount in ` Lakhs, unless otherwise stated)
Particulars As at As at
March 31, 2023 March 31, 2022
(A) employee stock options outstanding account (esooA)
Opening balance 86 -
Add: Employee stock option scheme compensation 92 86
Add: Employee stock option scheme compensation of subsidiaries 169 -
Closing balance 347 86
(B) securities premium
Opening balance 13,859 13,548
Add: On account of acquisition of subsidiary - 311
Add: Addition on account of issue of right issue shares 7,692 -
Closing balance 21,551 13,859
(C) Foreign currency translation reserve - oCI
Opening balance (1) -
Adjustment during the year 8 (1)
Closing balance 7 (1)
(d) Capital redemption reserve
Opening balance 79 79
Closing balance 79 79
(e) Retained earnings
Opening balance 1,356 2,476
Add / (Less) : Net Proft / (Loss) for the current year (2,889) (1,116)
Add / (Less) : Remeasurement Gains / (losses) on gratuity plan (2) (5)
Less : Convertion of convertible note into equity and payment of (106) -
balance
Less : Impact on opening non-controlling interest due to change of (55) -
holding percentage
Closing balance (1,697) 1,356
Total 20,285 15,377
----- End of picture text -----

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

21 non - CuRRenT FInAnCIAL LIABILITIes

non - CuRRenT FInAnCIAL LIABILITIes
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
secured Loans
Borrowings
Term loan from Bank (Refer note A below)	453	19
unsecured Loans
Borrowings
Loan from Others (Refer note B below)	-	62
Total	453	81

notes

A (i) Term Loan from bank : Business Loan from Bank is unsecured Loan taken from HdFC Bank and repayable in 36 monthly installments starting from April 2021. Loan carries interest @ 13.80%
(ii) Term Loan from bank : General Purpose Loan from Bank is unsecured Loan taken from Bank of Baroda and repayable in 180 monthly installments starting from December 2022. Loan carries interest @ 9.00%

Loan from others

B (i) Loan amounting to ` 50 Lakhs from Supriya Kotnis (loan from others) is unsecured loan repayble in 48 monthly installments starting from July 2021 with moratorium period of 6 months. Loan carries interest @11.5%.
(ii) Loan amounting to ` 45 Lakhs from Supriya Kotnis (loan from others) is unsecured loan repayable in 6 monthly instalments starting from February 2023. With moratorium period of 18 months. Loan carries interest @13%.

22 oTHeR non-CuRRenT FInAnCIAL LIABILITIes

oTHeR non-CuRRenT FInAnCIAL LIABILITIes
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Financial instruments at amortized cost	425	24
Total	425	24

23 eMPLoyee BeneFITs oBLIgATIon - non CuRRenT

eMPLoyee BeneFITs oBLIgATIon - non CuRRenT	eMPLoyee BeneFITs oBLIgATIon - non CuRRenT	eMPLoyee BeneFITs oBLIgATIon - non CuRRenT
(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Provision for employee benefts
Provision for gratuity (funded) (net) (Refer note 39B)	161	66
Provision for leave encashment (unfunded) (Refer note 39C)	31	22
Total	192	78

24 oTHeR non-CuRRenT LIABILITIes

oTHeR non-CuRRenT LIABILITIes
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Other payables	56	10
Provisions	21	-
Total	77	10

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

25 CuRRenT- BoRRowIngs

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|As at
March 31, 2023|As at
March 31, 2022|
|Current maturities of long-term debt (refer note 21A and 21B)
|19|43|
|
Loan from fnancial institutions|-|33|
|Loan from others|91|2|
|Total|110|78|

notes:

Loan from financial institutions is unsecured and carries fixed service fee ranging from 8% to 15% and the loan repayment start from May 2022 till December 2022.

Loan from others is interest free and repayable of demand.

26 TRAde PAyABLes

TRAde PAyABLes
	(Amount in`Lakhs, unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Total outstanding dues of micro enterprises and small enterprises	-	50
Total outstanding dues of creditors other than micro enterprises and small enterprises	1,535	738
Total	1,535	788

Trade payable ageing schedules for the year ended March 31, 2022 and year ended March 31, 2021

outstanding for the year ended March 31, 2023 from the due date of payment- undisputed

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|MsMe|others|
|unbilled|-|243|
|not due|-|219|
|Less than 1 year|-|1,071|
|
1-2 Years|-|2|
|
2-3 Years|-|-|
|More than 3 Years|-|-|
|Total|-|1,535|

outstanding for the year ended March 31, 2022 from the due date of payment- undisputed


	(Amount in`Lakhs, unless otherwise stated)
Particulars	MsMe	others
unbilled	31	415
Less than 1 year	19	323
1-2 Years	-	0
2-3 Years	-	1
More than 3 Years	-	-
Total	50	738

Note: There are no disputed trade payables.

27 oTHeR FInAnCIAL LIABILITIes - CuRRenT

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

==> picture [480 x 94] intentionally omitted <==

----- Start of picture text -----

Interest accrued but not due 9 4
Provision For other expenses 806 314
unpaid special dividend 779 809
Security deposits 648 6
Other payables:
Corporate Credit Card dues Payable 11 12
Others 278 2
Total 3,095 1,357
----- End of picture text -----

28 oTHeR CuRRenT LIABILITIes

29 eMPLoyee BeneFITs oBLIgATIon - CuRRenT

eMPLoyee BeneFITs oBLIgATIon - CuRRenT
	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Provision for leave encashment (unfunded) (Refer note 39C)	12	4
Provision For Gratuity	12	-
Total	24	4

30 Revenue FRoM oPeRATIons

Revenue FRoM oPeRATIons
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Revenue from Information Technology Services	6,927	1,554
Revenue from Instahome business	130	-
Rent income	5,553	25
Reimbursement of expenses from customers	77	-
Total	12,687	1,579

31 oTHeR InCoMe

oTHeR InCoMe
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Interest income on fxed deposits	353	164
Interest on Income tax refund	4	-
Interest income on security deposits	18	-
Interest income on unwinding of fnancial instruments	143	-
Proft on sale of fxed assets	8	-
Gains on leases terminated and lease liability no longer required written back	584	-
Proft on sale and revaluation of current investments (mutual funds)	24	334
Reversal of compensated absences expenses (Refer note 39 (C))	-	22
Miscellaneous income	85	2
Total	1,218	522

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

32 CosT oF good soLd

CosT oF good soLd
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Cost of Instahome Property	124	-
Total	124	-

33 eMPLoyee BeneFIT eXPenses

eMPLoyee BeneFIT eXPenses
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Salaries, wages, bonus and other allowances	4,945	1,605
Contribution to provident fund, ESI and other funds (Refer note 39A)	154	51
Gratuity expenses (Refer note 39B)	7	6
Compensated absences expenses (Refer note 39C)	76	-
Employee stock option scheme compensation	262	86
Staff welfare expenses	114	23
Total	5,558	1,771

note

Employee benefit expenses for the year ended March 31, 2022 includes severance pay of ` 253 Lakhs paid to Mr. Farid Kazani (Ex Managing Director) on his resignation due to change in management.

34 FInAnCe CosTs

FInAnCe CosTs
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Interest on Right of use assets and decommissioning liability	820	17
Interest on security deposits	9	0
Interest on loan	25	-
Interest on delayed payment of statutory dues	0	-
Other fnance charges	(1)	8
Total	852	25

35 dePReCIATIon And AMoRTIzATIon eXPenses


	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
depreciation on Property, Plant and Equipment	542	139
Amortization on other intangible assets	639	74
depreciation on Right of use assets	2,669	65
Total	3,849	278

36 oTHeR eXPenses

oTHeR eXPenses
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Travelling and conveyance	171	25
Professional and consultancy fees	1,669	311
Brokerage & Commission	1,189	-
Sell.Do Software Running Cost	-	(0)

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Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

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(Amount in ` Lakhs, unless otherwise stated)
Particulars year ended year ended
March 31, 2023 March 31, 2022
Hardware and software expenses- Business 539 145
Hardware and software expenses - others 87 -
Repairs and maintenance
Buildings 543 83
Others 65 11
Rent 1,080 16
Server and laptop Rent - 140
Advertisement and publicity 539 395
Advertising and publicity - others 768 -
Communication Expenses 104 58
Communication Expenses - others 183 -
Rates and taxes 135 190
Gateway transaction charges 24 -
Insurance 11 10
Electricity, power and fuel 670 83
Membership and subscription 46 2
Printing and stationery 7 5
Stock exchange listing fees 31 21
CSR expenditure / donations 23 41
Provision for Bad debts 115 42
Bad debts written off 25 42
Seminar and Conference 10 -
Food expense 258 -
Housekeeping and Security Expense 83 -
Foreign Exchange loss 4 1
Miscellaneous expenses 133 17
Total 8,512 1,638
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The following is the breakup of Auditor’ s Remuneration(exclusive of GST)

Miscellaneous expenses Total The following is the breakup of Auditor’ s Remuneration(exclusive of GST)	133 17 8,512 1,638	133 17 8,512 1,638
	(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
(a) Statutory Audit fees( including interim and special purpose Audits)	40	31
(b) Quarterly Limited Review	12	3
(c) Other Matters-Other Professional And Certifcation Fees	7	11
Total Payment To Auditors	58	45

37 InCoMe TAX

InCoMe TAX
	(Amount in`Lakhs, unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
(a) deferred tax relates to the following:
deferred tax assets
On provision for employee benefts	33	20
On carried forward business losses	1,257	416
On disallowances under Income Tax Act, 1961	282	35
On property, plant and equipment	137
Total	1,709	471
deferred tax liabilities
On fair valuation gain/(losses) on current investment	26	17
On property, plant and equipment	29	13
Total	55	30

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

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(Amount in ` Lakhs, unless otherwise stated)
Particulars year ended year ended
March 31, 2023 March 31, 2022
Deferred tax asset / (liability), net 1,654 441
(b) reconciliation of deferred tax assets/ (liabilities) (net):
Opening balance 428 26
Tax (liability)/asset recognized in Statement of Proft and Loss 1,226 352
On re-measurement gain/(losses) of post employment benefit (0) 3
obligation
On acquizition of subsidiary - 60
Closing balance 1,654 441
(c) Deferred tax assets / (liabilities) to be recognized in statement of
Proft and Loss :
deferred tax liability (55) (30)
deferred tax asset 1,709 382
Total 1,654 352
(d) Income tax expense
Current tax - -
Deferred tax (income) / charge (1,077) (352)
Total (1,077) (352)
(e) Reconciliation of tax charge
(Loss)/ Proft before tax (4,452) (1,611)
Statutory Income Tax Rate 25.17% 25.17%
Income tax expense on the same at tax rates applicable (1,121) (405)
Tax effects of :
Effect of deferred tax created at different rates (0) -
Items not deductible to tax 66 55
Prior year tax credits (30) -
Impact of lower effective tax rates on rental income 8 (1)
Income tax expense (1,077) (352)
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note:

during the year ended March 31, 2022, the Group has recognized deferred tax asset of ` 352 Lakhs mainly relating to unused tax losses that are considered to be able to offset against the Group’s taxable profits expected to arize in the subsequent years. Management has based the assessment on the basis of business plan of improved business performance largely due to organisation restructuring and hiring of skilled resources to take business to the next level.

38 eARnIngs PeR sHARe

Basic earnings per share amounts are calculated by dividing the profit/(loss) for the year attributable to equity holders by the weighted average number of equity shares outstanding during the year.

Diluted earnings per share amounts are calculated by dividing the profit/(loss) attributable to equity holders after adjusting by the weighted average number of equity shares outstanding during the year plus the weighted average number of equity shares that would be issued on outstanding stock options

The components of basic and diluted earnings per share for total operations are as follows:

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Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|year ended
March 31, 2023|year ended
March 31, 2022|
|number of shares considered for diluted EPS|3,83,87,607|2,87,68,465|
|(c) earnings per share (Face value per share**5/- each (Previous period** 5/- each))|||
|Basic ()|(7.51)|(3.90)| |diluted ()**|(7.51)|(3.90)|

The weighted average number of shares takes into account the weighted average effect of changes arising from issue of new shares and ESOP transactions during the year.

Out of above:

Particulars	year ended March 31, 2023	year ended March 31, 2022
(i) earnings per share (Face value per share`5/- each) attributable to Continuing operations (not annualised)
Basic (`)	(7.51)	(3.90)
diluted (`)	(7.51)	(3.90)
(ii) earnings per share (Face value per share`5/- each) attributable to discontinued operations (not annualised)
Basic (`)	-	-
diluted (`)	-	-

39 eMPLoyee BeneFITs

(A) Defined contribution plans

eMPLoyee BeneFITs (A) Defned contribution plans
	(Amount in`Lakhs, unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
during the year, the Group has recognized the following amounts in the Statement of Proft and Loss (Refer note 33)
Contribution to provident fund	147	47
Contribution to superannuation fund	2	2
Contribution to national pension scheme	5	2
Contribution to employees'state insurance corporation	1	0
Total	155	51

(B) Defined benefit plans - Gratuity

Liability for employee defined benefits plan has been determined by an Actuary, appointed for the purpose, in conformity with the principles set out in the Ind AS -19, “Employee Benefits”, the details of which are as under. The liability is fully funded through and approved trust with Life Insurance Corporation of India.

i) Actuarial assumptions

i) Actuarial assumptions
Particulars	year ended March 31, 2023	year ended March 31, 2022
discount rate (per annum)	7.25-7.50%	6.93-6.96%
Rate of increase in salary	7.00-7.50%	7.00%
	10% for frst two years and 8% thereafter	10% for frst two years and 8% thereafter
Expected average remaining working lives of employees (years)	9.24-36.88	8.97-9.48
Attrition rate (across various age groups)	0-65.85%	0-22%
Expected rate of return on plan assets	0.00-7.45%	6.93-14.03%

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

ii) Changes in the present value of defined benefit obligation

ii) Changes in the present value of defned beneft obligation
	(Amount in`Lakhs, unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Present value of obligation at the beginning of the year	89	66
On acquistion of subsidiary	36	39
Current service cost	73	22
Interest on defned beneft obligation	8	6
Actuarial (gain)/ loss on obligations	(6)	15
Benefts paid	(8)	(59)
Present value of obligation at the end of the year	191	89

iii) Change in fair value of assets

Benefts paid Present value of obligation at the end of the year iii) Change in fair value of assets	(8) (59) 191 89	(8) (59) 191 89
	(Amount in`Lakhs, unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Fair value of plan assets-opening	22	58
On acquistion of subsidiary	-	2
Expected return on plan assets	2	4
Remeasurement due to; actual return on planned assets less expected interest on planned assets	-	(1)
Employer's contribution	1	19
Settlements	-	-
Benefts paid	(4)	(59)
Actuarial gain/(loss)	(2)	(1)
Fair value of plan assets- closing	20	22

iv) Expense recognized as Employee benefits expense in the statement of Profit and Loss

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|year ended
March 31, 2023|year ended
March 31, 2022|
|Current service cost
|73|22|
|Interest on net defned beneft liability / (asset)|7|2|
|
Adjustment on account of acquizition of subsidiary|(4)|(18)|
|
Total|76|6|

v) Income recognized as OCI in the statement of Profit and Loss

Adjustment on account of acquizition of subsidiary Total v) Income recognized as OCI in the statement of Proft and Loss	(4) (18) 76 6	(4) (18) 76 6
	(Amount in`Lakhs, unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Remeasurements during the year due to:
Changes in fnancial assumptions	6	(14)
Changes in demographic assumptions	-	-
Experience adjustments	(9)	1
Actual return on plan assets less expected interest on plan assets	1	1
Adjustment to recognize the effect of asset ceiling	-	-
Total	(1)	(12)
vi) Assets and liabilities recognized in the Balance sheet:	(Amount in`Lakhs unless otherwise stated)
Particulars	, year ended March 31, 2023	year ended March 31, 2022
Present value of funded defned beneft obligation	191	88
Fair value of plan assets	(20)	(22)
Net liability/ ( asset ) recognized in Balance sheet	172	66
Included in Employee beneft obligation	172	66
Disclosed as Employee Beneft Obligations-Non current (Refer note 23)	161	66
Disclosed as Employee Beneft Obligations-current (Refer note 29)	11	-

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Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

vii) expected contribution to the fund in the next year 51 1

viii) sensitivity Analysis

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(Amount in Lakhs, unless otherwise stated) Impact on defned beneft obligation As at March 31, 2023 As at March 31, 2022 discount rate In (%) In In (%) In `
discount rate (4.52)% 22 (4.26)% 20
0.5% increase 4.87% 25 4.60% 21
0.5% decrease
Rate of increase in salary 4.87% 25 4.58% 21
0.5% increase (4.56)% 22 (4.28)% 20
0.5% decrease
Subsidiary company
discount rate (7.00)-10.17% 177 10.15% 74
1% decrease (8.69)-8.50% 162 (8.66)% 61
1% increase
Rate of increase in salary (7.80)-5.10% 161 (7.54)% 62
1% decrease (5.00)-8.73% 176 16.28% 78
1% increase (4.56)% 22 (4.28)% 20
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ix) Maturity profile of defined benefit obligations

year ended March 31,

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2023 6 -
2024 7 -
2025 15 5
2026 35 5
2027 26 6
2028 onwards 159 8
2029 onwards 100 99
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(C) Defined benefit plans - Leave encashment

(C) Defned beneft plans - Leave encashment
	(Amount in`Lakhs, unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
i) Assets and liabilities recognized in the Balance sheet:
Opening Balance	16	31
On acquizition of subsidiary	27	18
Charged during the year	(235)	(22)
Amount paid during the year	235	(11)
net liability recognized in Balance sheet	43	16
Disclosed as Employee Beneft Obligations-Non current (Refer note 23)	32 12 12 4
Disclosed as Employee Beneft Obligations-current (Refer note 29)

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

40 BusIness CoMBInATIons duRIng THe yeAR

(a) summary of acquizition

1 K2v2 Technologies Private Limited (w.e.f. october 01, 2021) “K2v2”

The Board of Directors of the Group in its meeting held on July 23, 2021 approved the acquisition of 51% equity share capital (on a fully diluted basis), of K2V2 Technologies Private Limited (‘K2V2’), for an aggregate cash consideration of ` 4,000 Lakhs.

The Group paid 1,800 Lakhs on August 25, 2021 to acquire 20,735 shares (44.44% of equity share capital) @ 8,681 per share. In case of the further investment of ` 2,200 Lakhs to attain 51% of equity share capital, the Group has an option to invest this anytime from the closing date or on the achievement of a defined target by March 31, 2023, as prescribed in the terms of the share subscription and shareholders agreement with K2V2. The Group has accounted for this as an ‘Investment in Associate’, at cost till quarter ended September 30, 2021.

During the quarter ended December 31, 2021, the Group amended its Share Purchase Agreement with K2V2, w.e.f. October 1, 2021 and on account of the revised rights, now exercises control over K2V2 in accordance with IND AS 110 “Consolidated Financial Statements”. Accordingly, w.e.f. October 1, 2021, K2V2 has been accounted as a subsidiary of the Group.

2 Monk Tech Labs Pte. Limited (w.e.f March 15, 2022) “Monk Tech

The Board of directors of the Company in its meeting held on december 17, 2021 approved the acquisition of 51% equity share capital (on a fully diluted basis), of Monk Tech Labs Pte. Limited, Singapore (‘THM’), for an aggregate cash consideration of uSd 2,000,000 (approximately 1,500 Lakhs) and subscription of Optionally Convertible debentures for uSd 3,000,000 (approximately 2,250 Lakhs). The Company invested USD 10,00,000 on March 17, 2022 in THM after receiving approval from AD banker/RBI.

3 Helloworld Technologies India Private Limited (w.e.f June 15, 2022) “Helloworld”

The Board of Directors of the Company in its meeting held on March 23, 2022, approved the acquisition of 100% equity share capital of Helloworld Technologies India Private Limited (‘HWT’), for an aggregate cash consideration of up to 4,200 Lakhs and investment of 1,800 Lakhs towards subscription of further equity shares or convertible notes of HWT and, or, advancing loan and, or, line of credit to HWT. During the quarter ended June 30, 2022 the Company had completed the equity investment by paying 3,811 Lakhs on June 23, 2022 to Nestaway Technologies Private Limited, who were holding 100% shares of HWT. The Company has acquired control over HWT w.e.f. June 17, 2022 and as required under IND AS 110 HWT has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded intangible assets of 1,319 Lakhs and resultant goodwill of ` 4,387 Lakhs based on these valuation and will record any necessary adjustments during this measurement period. The intangible assets have been amortised over a period of 5 years.

4 Integrow Asset Management Private Limited (w.e.f september 01, 2022) “Integrow”

The Board of directors of the Company in its meeting held on October 30, 2021, approved the acquisition of 49% of equity shares (on a fully diluted basis) of Integrow Asset Management Private Limited (‘Integrow’), for an aggregate cash consideration of about 1,000 Lakhs and subscription of Optionally Convertible debentures for 1,500 Lakhs. The Company had completed equity investment by paying requisite amount on January 31, 2022 and had kept the right to exercise majority control in the Board of Integrow in abeyance until August 31, 2022. Basis the terms of the agreement with respect to the Company’s rights over control of the Board composition, this was accounted as an ‘Investment in Associate’, at cost until August 31, 2022.

Further during the year, on September 1, 2022, the Company has reinstated its right to exercise majority control in the board of Integrow, and accordingly based on Company’s rights over the control of Board composition it now exercises control over Integrow in accordance with IND AS 110. Intergrow has been accounted as a Subsidiary of the Company and the assets and liabilities have been recorded at fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded resultant goodwill of 606 Lakhs based on these valuation and will record any necessary adjustments during this measurement period. The Company has further subscribed to the Optionally Convertible Debentures (OCd) of 250 Lakhs issued by Integrow.

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Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

5 Aurum Analytica Private Limited (formerly known as Blink Advisory Private Limited) (w.e.f october 15, 2022) “Analytica”

The Board of directors of the Company in its meeting held on May 26, 2022, has approved the acquisition of 100% of equity shares of Blink Advisory Services Private Limited (‘Blink Advisory’), for an aggregate cash consideration of up to 2,350 Lakhs and investment of 2,100 Lakhs as per the requirements of the business.

The Company has acquired control over Blink Advisory w.e.f. October 15, 2022 and as required under IND AS 110, Blink Advisory has been accounted as a subsidiary of the Company and the assets and liabilities have been recorded at provisional fair values based on the purchase price allocation conducted by an independent valuer. In the consolidated financial statements the Company has recorded resultant goodwill of 1,566 Lakhs based on these valuation and will record any necessary adjustments during this measurement period. The Company has further provided an intercompany loan of 150 Lakhs to Blink Advisory.

Post the investment the name of Blink Advisory has changed to Aurum Analytica Private Limited “AAPL” w.e.f. December 22, 2022 on approval of the same by the Ministry of Corporate Affairs.

Details of the fair value of identifiable assets and liabilities acquired, purchase consideration and goodwill are as follows :

(i) Assets and liabilities recognized as a result of acquizition

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount in`Lakhs,unless otherwise stated)|
|---|---|---|---|---|---|
|Particulars|Amount|||||
||K2v2|Monk Tech|Helloworld|Integrow|Analytica|
|Fair value of assets recognized|3,006|1,377|6,795|607|439|
|Fair value of liabilities recognized
|913|422|7,371|152|154|
|Net identifable assets acquired|2,093|955|(576)|455|285|

(ii) Purchase consideration

Net identifable assets acquired Purchase consideration	2,093 955 (576) 455 285	2,093 955 (576) 455 285	2,093 955 (576) 455 285	2,093 955 (576) 455 285	2,093 955 (576) 455 285
	(Amount in`Lakhs,unless otherwise stated)
Particulars	Amount
	K2v2	Monk Tech	Helloworld	Integrow	Analytica
Cash Paid	1,800	768	3,811	829	1850
Total	1,800	768	3,811	829	1,850

(iii) Calculation of goodwill

Total Calculation of goodwill	1,800 768 3,811 829 1,850	1,800 768 3,811 829 1,850	1,800 768 3,811 829 1,850	1,800 768 3,811 829 1,850	1,800 768 3,811 829 1,850
	(Amount in`Lakhs,unless otherwise stated)
Particulars	Amount
	K2v2	Monk Tech	Helloworld	Integrow	Analytica
Consideration transferred	1,800	768	3,811	829	1,850
non-controlling interest in the acquired entity	1,163	563	-	231	-
Adjustment for reversal of loss of associate	(15)	-
Less: Net identifable (assets)/ liabilities acquired	(2,093)	(955)	576	(455)	(285)
goodwill	855	376	4,387	605	1,565

(iv) Accounting policy choice for non-controlling interest

The group recognizes non-controlling interests in acquired entity either at the fair value or at the noncontrolling interests proportionate share of acquired entity’s identifiable net assets. This decision is

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

made on an acquisition to acquisition basis. The group has recognized non-controlling interest based on proportionate share of acquired entity’s identifiable net assets.

(v) The assets and liabilities have been recorded at fair value based on the purchase price allocation conducted by an independent valuer. The Group has recorded these provisional fair values and resultant goodwill and intangible assets as per Ind AS 103.

(b) Impairment test for goodwill

Goodwill is tested for impairment annually on 31 March every year which is as follows:

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|---|---|---|---|
|Particulars|Amount||||||
||K2v2|Monk Tech|Helloworld|Integrow|Analytica|Total|
|As at March 31,2023
As at March 31,2022|855|376|4,387|
605|1,565|7,788|
||855|376|-|-|-|1,230|

The present value of the expected cash flows of each segment is determined by applying a suitable discount rate reflecting current market assessments of the time value of money and risks specific to the segment.

The key assumptions used for the calculations are as follows:

The key assumptions used for the calculations are as follows:
Particulars	As at March 31, 2023
Long-termgrowth rate discount rate	4 - 5%
	13.87 - 21.40%

41 LeAses

The Company’s lease asset classes consist of leases for land and building. Leases of land and buildings generally have lease terms of 5 to 10 years. The Company’s obligations under its leases are secured by the lessor’s title to the leased assets.

Leases where company is a lessee

Leases where company is a lessee
	(Amount in`Lakhs,unless otherwise stated)
Particulars	Category of Rou Asset
	Land and Building	Total
Balance as at April 1, 2021	28	28
Recognized duringtheyear	659	659
Interest of ROu Asset	16	16
Payments duringtheyear	(73)	(73)
Written back duringtheyear	(16)	(16)
Revaluation of lease liabilities	-	-
Effect of remeasurement/other adjustments	-	-
Balance as at March 31, 2022	615	615
Addition on account of acquizition of new subsidiary	5,850	5,850
Recognized duringtheyear	6,035	6,035
Interest of ROu Asset	836	836
Payments duringtheyear	(606)	(606)
Written back duringtheyear	(831)	(831)
Revaluation of lease liabilities	-	-
Effect of remeasurement/other adjustments	(2,605)	(2,605)
Balance as at March 31, 2023	9,294	9,294

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Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(a) Break-up of current and non-current lease liabilities

Break-up of current and non-current lease liabilities	Break-up of current and non-current lease liabilities	Break-up of current and non-current lease liabilities
(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Current Lease Liabilities	3,889	1,624
non-current Lease Liabilities	5,405	2,449

(b) Maturity analysis of lease liabilities

Maturity analysis of lease liabilities	Maturity analysis of lease liabilities	Maturity analysis of lease liabilities
(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Less than oneyear	3,889	1,624
One to fveyears	5,405	2,449
More than fveyears	-	-
Total	9,294	4,073

As per Para B11 of Ind AS 107 Financial Instruments: disclosure, In preparing the maturity analyze an entity uses its judgement to determine an appropriate number of time bands.

(c) Amounts recognized in statement of Profit and Loss account

Amounts recognized in statement of Proft and Loss account	Amounts recognized in statement of Proft and Loss account	Amounts recognized in statement of Proft and Loss account
(Amount in`Lakhs,unless otherwise stated)
Particulars	year ended March 31, 2023	year ended March 31, 2022
Interest on Lease Liabilities	836	826
Variable lease payments (not included in the measurement of lease liabilities)	-	-
Income from subleasing	-	-
Low-value leases expensed	-	-
Short-term leases expensed	1,208	697
Total	2,044	1,523

Lease where Company is a lessor

Total 2,044 1,523 Lease where Company is a lessor	Total 2,044 1,523 Lease where Company is a lessor	Total 2,044 1,523 Lease where Company is a lessor
(Amount in`Lakhs,unless otherwise stated)
Particulars	March 31, 2023	March 31, 2022
Lease Income	715	25
Maturity analysis on lease payments receivable. (Amount in`Lakhs,unless otherwise stated)
Particulars	March 31, 2023	March 31, 2022
Less than oneyear	531	142
One to fveyears	1,909	654
More than fveyears	-	-
Total	2,440	796

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

42 ReLATed PARTy dIsCLosuRes

(A) Key Management Personnel

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Vasant Gujarathi non-Executive and Independent director
Onkar Shetye (appointed w.e.f May o4, 2021) Executive director
Srirang Athalye (appointed w.e.f May 04, 2021) non-Executive director
Ramashrya Yadav (appointed w.e.f July 23, 2021) non-Executive director
Ajit Joshi (appointed w.e.f July 23, 2021) non-Executive and Independent director
Padma Deosthali (appointed w.e.f July 23, 2021) non-Executive and Independent director
Kunal Karan Chief Financial Officer
Sonia Jain (appointed w.e.f June 01, 2022) Company Secretary
Ashank Desai (resigned w.e.f. May 04, 2021 non-Executive director
Farid Kazani (resigned w.e.f. May 04, 2021) Managing director & Group CFO
Radhakrishnan Sundar (resigned w.e.f. May 04, 2021) Executive director
Ketan Mehta (resigned w.e.f. July 23, 2021) non-Executive director
Madhu Dubhashi (resigned w.e.f. July 23, 2021) non-Executive and Independent director
Venkatesh Chakravarty (resigned w.e.f. July 23, 2021) non-Executive and Independent director
Varika Rastogi (resigned w.e.f. July 16, 2021) Company Secretary
Neha Sangam (resigned w.e.f. June 01, 2022) Company Secretary
Khushbu Rakhecha (resigned w.e.f. February 17, 2023) Chief Compliance Officer
----- End of picture text -----

(B) other related parties with whom the Company had transactions during the year

Integrow Asset Management Private Limited	India	Associate upto August 31,2022
Aurum Realestate developers Private Limited (formerly known as Aurum Platz IT Private Limited)	India	Promoter
Aurum Facility Management Private Limited (AFML) (formerly known as Orize Property Management Private Limited)	India	Entity in which director is a director

(C) details of transactions with related party in the ordinary course of business:

details of transactions with related party in the ordinary course of business:	details of transactions with related party in the ordinary course of business:	details of transactions with related party in the ordinary course of business:
(Amount in`Lakhs,unless otherwise stated)
	year ended March 31, 2023	year ended March 31, 2022
(i) Revenue from information technology services
Aurum Realestate developers Private Limited (formerly known as Aurum Platz IT Private Limited)	230	53
(ii) Repair and Maintenance - Building
Aurum Facility Management Private Limited ( AFML ) (formerly known as Orize PropertyManagement Private Limited)	23	41
(iii) reimbursable / other expenses recovered
Aurum RealTech Services Private Limited
(iii) director sitting fees	23	45
(iv) remuneration paid / payable:	165	467

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

(vii) Other benefits to key management personnel

|||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|---|---|---|---|---|
|For the year ended
March 31, 2023|Provident
Fund|national
Pension
scheme|gratuity|Leave
encashment|superannuation|share
based
beneft|value
of other
Perquisites*|
|Onkar Sunil Shetye|2|-|-|-|-|-|-|
|Kunal Karan|2|2|-|2|2|-|-|
|Khushbu Rakhecha|-|-|-|-|-|-|-|
|Sonia Jain|0|-|-|-|-|-|-|
|neha Sangam|-|-|-|-|-|-|-|

|||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|---|---|---|---|---|
|For the year ended
March 31, 2022|Provident
Fund|national
Pension
scheme|gratuity|Leave
encashment|superannuation|share based
beneft |value of
other
Perquisites*|
|Farid Kazani|2|-|42|3|-|-|-|
|Radhakrishnan
Sundar|0|-|14|3|-|-|-|
|Onkar Sunil Shetye|1|-|-|-|-|-|-|
|Kunal Karan|2|2|-|-|2|-|-|
|Varika Rastogi|0|-|-|-|-|-|-|
|Khushbu Rakhecha|-|-|-|-|-|-|-|
|neha Sangam|0|-|-|-|-|-|-|

Share based benefit is calculated based on the perquisite value for KMP’s in India, whereas for KMP’s of overseas entities, it is based on cost accounted by the Company

(d) Amount due to related party

Amount due to related party	Amount due to related party	Amount due to related party
(Amount in`Lakhs,unless otherwise stated)
	year ended March 31, 2023	year ended March 31, 2022
Payable to KMP
Incentive Payable
Kunal Karan	18	18
Onkar Sunil Shetye	9	9
director sitting Fees
Vasant Gujrati	-	1
SrirangAthalye	-	1
Ajit Joshi	-	1
Ramshrya Yadav	-	1
Padma deosthali	-	1

(e) Terms and conditions of transactions with related parties

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

43 CoMMITMenTs And ConTIngenCIes:

CoMMITMenTs And ConTIngenCIes:
	(Amount in`Lakhs, unless otherwise stated)
	year ended March 31, 2023	year ended March 31, 2022
Capital commitments
Capital commitments :
Estimated amount of contract remaining to be executed on capital account not provided for (inclusive of GST)*	33	220

*Note : The amount is inclusive of GST.

44 segMenT RePoRTIng

The Group operations predominantly relate to providing software solutions in the real estate sector. The organizational and reporting structure of the Group is based on Strategic Business Units (SBU) concept. The SBU’s are primarily cost center segments. SBU’s are the operating segments for which separate financial information is available and for which operating results are evaluated regularly by management in deciding how to allocate resources and in assessing performance. These SBU’s provide end-to-end information technology solutions on time and material contracts or fixed contracts, entered into with customers. The Chief Operating Decision Maker (CODM) reviews the operations of the group as one operating segment on the basis of SBUs.

The Group’s primary reportable segments which Group reassessed during the year ended March 31, 2023 consist of the following SBus, which are based on the risks and returns in different areas of the operations: Software as a Service ( SAAS ), Real Estate as a Service ( RAAS) and Others. SAAS operations comprise of activities where the Company derives revenue from customers for the use of the IT products it owns. RAAS operations comprise of activities where the Comapny derives revenue from customers on use of real estate related services it provides.

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|
|Particulars|year ended||
||As at
March 31, 2023|As at
March 31, 2022|
|segment Revenue|||
|Software as a service(SAAS)|2,152|778|
|Real estate as a service(RAAS)|10,535|801|
|Total|12,687|1,579|
|segment Results|||
|Software as a service(SAAS)|(1,928)|(280)|
|Real estate as a service(RAAS)|(804)|(424)|
|Total|(2,732)|(704)|
|Less: Finance cost|(852)|25|
|Less : Other un-allocable Income /(expenditure)- net
|(1,406)|(882)|
|(Loss)/ Proft before exceptional items
|(4,990)|(1,611)|
|
Exceptional items - Proft
|-|-|
|(Loss)/ Proft before tax|(4,990)|(1,611)|

The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions.

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

The following table sets forth the group’s total assets and total liabilities:

||(Amount inLakhs,unless otherwise stated)|(Amount inLakhs,unless otherwise stated)|
|---|---|---|
|Particulars|As at
March 31, 2023|As at
March 31, 2022|
|segment Assets|||
|Software as a service(SAAS)|4,706|3,775|
|Real estate as a service(RAAS)|24,228|5,741|
|unallocated|10,242|12,541|
|Total Assets|39,177|22,057|
|segment Liabilities|||
|Software as a service(SAAS)|1,474|415|
|Real estate as a service(RAAS)|12,876|652|
|unallocated|1,344|2,116|
|Total Liabilities|15,694|3,183|

45 FAIR vALues oF FInAnCIAL AsseTs And FInAnCIAL LIABILITIes

The Group’s financial instruments consist primarily of cash and cash equivalents, short term investments in time deposits, loans, restricted cash, accounts receivables, unbilled accounts receivable, accounts payable, accrued liabilities. The carrying amount of cash and cash equivalents, short term investments in time deposits, restricted cash, accounts receivables, unbilled accounts receivable, accounts payable and accrued liabilities as of the reporting date approximates their fair market value due to the relatively short period of time of original maturity tenure of these instruments. Classification of the financial assets and financial liabilities is given below:

==> picture [482 x 327] intentionally omitted <==

----- Start of picture text -----

(Amount in ` Lakhs, unless otherwise stated)
As at March 31, 2023 As at March 31, 2022
Fair value and Carrying Fair value Amortized Total Fair value Amortized Total
Amount through cost through cost
Profit and Profit and
loss loss
FInAnCIAL AsseTs- non-
CuRRenT
Other financial assets- security - 651 651 - 104 104
deposits
FInAnCIAL AsseTs-
CuRRenT
Investments 1,656 1,110 2,766 2,741 1,000 3,741
Trade receivables - 1,857 1,857 - 777 777
Loans - 2 2 - 1 1
- -
Cash and cash equivalents 2,026 2,026 3,411 3,411
Bank balances other than cash - 2,508 2,508 - 3,904 3,904
and cash equivalents
Other fnancial assets - 1,036 1,036 - 125 125
FInAnCIAL LIABILITIes- non
CuRRenT
Borrowings - 453 453 - 81 81
Lease liabilities - 5,405 5,405 - 425 425
Other fnancial liabilities - 425 425 - 24 24
FInAnCIAL LIABILITIes-
CuRRenT
Borrowings - 110 110 - 78 78
Trade payables - 1,535 1,535 - 788 788
Lease liabilities - 3,889 3,889 - 171 171
Other fnancial liabilities - 3,095 3,095 - 1,357 1,357
----- End of picture text -----

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

46 FAIR vALue HIeRARCHy

The following is the hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e.drived from prices).
Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:


	(Amount in`Lakhs,unless otherwise stated)
Particulars	As at March 31, 2023	As at March 31, 2022
Level 1(quotedprice in active markets)
Investments in mutual funds fair value throughproft and loss	156	2,741
Level 3(quotedprice in active markets)
Investments in mutual funds fair value throughproft and loss	1,500	-

47 FInAnCIAL RIsK MAnAgeMenT oBJeCTIves And PoLICIes

The Group is exposed to various financial risks. These risks are categorized into market risk, credit risk and liquidity risk. The Group’s risk management is coordinated by the Board of Directors and focuses on securing long term and short term cash flows. The Group does not engage in trading of financial assets for speculative purposes.

(A) Market risk

Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The group’s exposure to the risk of changes in foreign exchange rates relates primarily to the group’s operating activities (when revenue or expense is denominated in a different currency from the group’s functional currency).

Foreign currency sensitivity

The following table demonstrates the sensitivity to a reasonably possible change in the uS dollar exchange rate, with all other variables held constant, of the Company’s profit before tax (due to changes in the fair value of monetary assets and liabilities). The Company’s exposure to foreign currency changes for all other currencies is not material.

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

||(Amount inLakhs,unless otherwise stated) |(Amount inLakhs,unless otherwise stated)

|(Amount inLakhs,unless otherwise stated) |(Amount inLakhs,unless otherwise stated)

|(Amount inLakhs,unless otherwise stated) |(Amount inLakhs,unless otherwise stated)

|
|---|---|---|---|---|---|---|
|Currency|Closing balance||Effect on proft before tax
March 31, 2023||Effect on proft before tax
March 31, 2022||
||March 31,
2023|March 31,
2022|1% Increase|1% decrease|1% Increase|1% decrease|
|uSd|0|-|0|0|-|-|

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

The Group’s current assets aggregate to 11,392 Lakhs (March 31, 2022 - 12,422 Lakhs) including current investments, cash and cash equivalents and bank balances against aggregate current liability of 9,142 Lakhs (March 31, 2022 - 2,565 Lakhs) and non current liabilities 6,552 Lakhs (March 31, 2022 - 618 Lakhs) on the reporting date. While the Group’s total equity stands at 23,483 Lakhs (March 31, 2022 - 18,874 Lakhs). Hence liquidity risk or risk that the Group may not be able to settle or meet its obligations as they become due does not exist.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The group exposure to the risk of changes in market interest rates relates primarily to the group’s long-term debt obligations with floating interest rates. The group manages its interest rate risk by having a balanced portfolio of fixed and variable rate loans and borrowings.

Interest rate sensitivity

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion of loans and borrowings. With all other variables held constant, the group’s profit before tax is affected through the impact on floating rate borrowings, as follows:

the impact on foating rate borrowings, as follows:	the impact on foating rate borrowings, as follows:
		(Amount	in`Lakhs,unless otherwise stated)
Currency	As at	Closing balance	Effect onproft before tax
			1% Increase	1% decrease
Borrowings(Impact onproft and loss)	March 31,2023	25	25	25
Borrowings(Impact onproft and loss)	March 31,2022	-	-	-

(B) Credit risk

Credit risk is the risk of financial loss arising from counterparty failure to repay or service debt according to the contractual terms or obligations. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risks. Credit risk is controlled by analyzing credit limits and credit worthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

Financial instruments that potentially subject the Group to concentrations of credit risk consist of cash and cash equivalents, trade receivables, time deposits and investment in mutual fund. The Group maintains its cash and cash equivalents, time deposits and investment in mutual fund, with banks and mutual fund houses having good reputation, good past track record, and who meet the minimum threshold requirements under the counterparty risk assessment process, and reviews their credit-worthiness on a periodic basis.

The Group’s exposure to customers is diversified and no single customer contributes to more than 10% of outstanding trade receivables as at March 31, 2023 and 2022.

(C) Liquidity risk

Liquidity risk refers to the risk that the Group cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. The Group consistently generated sufficient cash flows from operations to meet its financial obligations as and when they fall due.

48 CAPITAL MAnAgeMenT

For the purpose of the Group’s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders. The primary objective of the Group’s capital management is to maximize the shareholder value and to ensure the Company’s ability to continue as a going concern.

The Group monitors gearing ratio i.e. total debt in proportion to its overall financing structure, i.e. equity and debt. The Group manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets.

|||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|---|
|Particulars||March 31, 2023|March 31, 2022|
|Total equity|(i)|23,482|18,874|
|Total debt|(ii)|563|160|
|Overall fnancing|(iii) = (i) + (ii)|24,045|19,034|
|Gearing ratio|(ii)/ (iii)|2.34%|0.84%|

no changes were made in the objectives, policies or processes for managing capital during the years ended March 31, 2023 and March 31, 2022.

49 The Group has accounted net foreign exchange loss from transactions and translations under ”Other expenses“ and net foreign exchange gain in ”Other Income“ in accordance with the Guidance note on Schedule III to the Companies Act, 2013 issued by the Institute of Chartered Accountants of India. Further, ‘Income from operations’ includes net realized foreign exchange (gain)/loss arising from currency hedges relating to certain firm commitments and forecasted sales transactions. The table below shows the impact of the net foreign exchange (gain)/loss on the Groups profit for the year.

net foreign exchange gain in ”Other Income“ in accordance with the Guidance note on Schedule III to the Companies Act, 2013 issued by the Institute of Chartered Accountants of India. Further, ‘Income from operations’ includes net realized foreign exchange (gain)/loss arising from currency hedges relating to certain frm commitments and forecasted sales transactions. The table below shows the impact of the net foreign exchange (gain)/loss on the Groups proft for the year.	net foreign exchange gain in ”Other Income“ in accordance with the Guidance note on Schedule III to the Companies Act, 2013 issued by the Institute of Chartered Accountants of India. Further, ‘Income from operations’ includes net realized foreign exchange (gain)/loss arising from currency hedges relating to certain frm commitments and forecasted sales transactions. The table below shows the impact of the net foreign exchange (gain)/loss on the Groups proft for the year.	net foreign exchange gain in ”Other Income“ in accordance with the Guidance note on Schedule III to the Companies Act, 2013 issued by the Institute of Chartered Accountants of India. Further, ‘Income from operations’ includes net realized foreign exchange (gain)/loss arising from currency hedges relating to certain frm commitments and forecasted sales transactions. The table below shows the impact of the net foreign exchange (gain)/loss on the Groups proft for the year.
(Amount in`Lakhs, unless otherwise stated)
Particulars	March 31, 2023	March 31, 2022
Net foreign exchange (gain) / loss	4	0

50 dIsAggRegATe Revenue InFoRMATIon

The table below presents disaggregated revenues from contracts with customers for the year ended March 31,2022 by offerings and contract-type. The Company believe that this disaggregation best depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by industry, market and other economic factors.

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|March 31, 2023|March 31, 2022|
|Revenue by offerings|||
|
Revenue from Information technology services|6,927|1,554|
|
Revenue from Insta home business|130|-|
|Rent Income (Based on rates agreed with the customer)|5,553|25|
|
Total|12,610|1,579|

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|
|Particulars|March 31, 2023|March 31, 2022|
|Timing of Revenue Recognition|||
|
Services transferred at a point in time|3,735|1,579|
|
Services transferred over time|8,875|-|
|Total|12,610|1,579|

51 eMPLoyee sToCK oPTIon sCHeMe

(a) nature and extent of employee stock option scheme that existed during the year:

Plan I

during the previous year, on approval by the nomination and Remuneration Committee (“Committee”) and subsequently by the Board of the directors of the Company on October 30, 2021, the Company introduced the Employee Stock Option Plan “ Majesco Employee Stock Option Plan 2021” (ESOP 2021) for granting 77,00,000 stock options to the employees, each option representing one equity share of the Company. The exercise price is determined by the Committee and such price may be the face value of the share from time to time or may be the market price or any other price as may be decided by the Committee and will be governed by the Securities and Exchange Board of India (SEBI) (Share Based Employee Benefits) and accounted in accordance with Ind AS 102 “Share Based Payments”.

during the year, the Company has received Inprinciple approval from BSE Limited and national Stock Exchange of India Limited for listing of upto a maximum of 77,00,000 equity shares of ` 5/- each of Aurum PropTech Limited to be allotted pursuant to Aurum PropTech Employee Stock Option Plan 2021.

The nomination and Remuneration Committee of the Board of the Company vide circular resolutions passed on december 13, 2022 has approved the grants of 23,01,292 stock options to directors and employees of Company and its subsidiaries under the “Aurum PropTech Employee Stock Option Plan 2021”. The first vesting of the stock option shall happen only on completion of one year from the date of grant and the option are excersiable within three years from the date of vesting. During the year, the Company granted total 22,94,292 Lakh options under ‘Aurum PropTech Employee Stock Option Plan 2021’ to its eligible employees, out of which 12.80 Lakh options were in lieu of options earlier granted. Fair value of these options as on the date of grant is determined using Black - Scholes valuation technique by an independent third-party valuer. Options have been granted to the employees and carried over at a fair value.

For the year ended March 31, 2023 and March 31, 2022 similar amount relating to employees of its subsidiaries amounting to 169 Lakhs and nil Lakhs respectively was debited to the “Investment in subsidiary” account with the corresponding credit to “Employee stock options outstanding account”.

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year

||(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|(Amount inLakhs, unless otherwise stated)|
|---|---|---|---|---|
|Particulars|As at March 31, 2023
As at March 31, 2022||||
||number|wAeP (**)**|**number**|**wAeP (**)|
|Options outstanding at beginning of the year|13,60,000|77.00|-|-|
|
Add:|||||
|Options granted during the year|9,34,292|69.22|13,60,000|77.00|
|
Less:|||||
|Options exercised during the year|-|-|-|-|
|
Options lapsed during the year|90,000|77.00|-|-|
|
Options cancelled during the year|-|-|-|-|
|
options outstanding at the end of the year|22,04,292|68.90|13,60,000|77.00|
|
Options exercisable at the end of the year|-
-
-
-||||

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

The fair value of each option is estimated on the date of grant using the Black Scholes model. The following tables list the inputs used on the date of grant for the years ended:

Particulars	As at March 31, 2023	As at March 31, 2022
Weighted average fair value of the options at thegrant dates(`)	74.00	37.90
Dividendyield(%)	nil	nil
Risk free interest rate(%)	7.19%	5.98%
Expected life of share options(years)	3.60 Years	5years
Expected volatility (%)	48.81%	41.36%
Stock options exercised during the year :
number of options exercised duringtheyear	-	-
Weighted average shareprice at the date of exercise(`)	-	-

(b) Stock options exercised during the year :
(c) For stock options outstanding at the end of the year, the range of exercise prices and weighted average remaining contractual life (vesting period and exercise period)

Particulars	options outstanding	weighted Average exercise Price (`)	weighted Average remaining Contractual Life (years)
As at March 31, 2023
Range of exerciseprice(`)
5-100	22,04,292	69.22	3.00
As at March 31, 2022
Range of exerciseprice(`)	13,60,000	77.00	3.00

(d) Information on stock options granted during the year ended:

Range of exerciseprice(`) 13,60,000 Information on stock options granted during the year ended:	77.00	3.00
Particulars	March 31, 2023	March 31, 2022
number of optionsgranted duringtheyear	9,34,292	13,60,000
Optionpricingmodel used	Black Scholes	Black Scholes
Weighted average shareprice(`)	124.80	85.75
Exerciseprice(`)	5 to 80	77
Expected volatility (%)	48.81%	41.36%
Option life(vesting period and exerciseperiod)	3.60 Years	5 Years
Dividendyield(%)	nil	nil
Risk free interest rate(%)	7.19%	5.98%
Effect of share-based payment plan on the Balance sheet and statement of Proft and Loss :
Employee stock options outstandingaccount(Refer note 20A)	347	86
Employee stock compensation expenses(Refer note 33)	262	86

(e) Effect of share-based payment plan on the Balance sheet and statement of Profit and Loss :

Plan II

K2v2 Technologies employees option Plan 2020

The Company has introduced employee stock option scheme. This employee equity-settled compensation scheme is known as K2V2 Technologies Employees Option Plan. This plan came into force from 1st August 2020. The employee stock option scheme is approved and authorized by the Board of Directors.The Board will have the discretion and authority to select the Eligible Employees from among the Employees to whom Options are to be granted from time to time under this Plan.Also, the terms of the option shall not be same for each Eligible employee. The Board at any

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Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

time amend, discontinue or terminate the Plan or any part or portion thereof at any time. Provided that any such amendment, discontinuation or termination that would impair the rights of or is detrimental to the interests of the Option Holder shall not, to that extent, be effective. The above amendment, discontinuation or termination shall not affect options already granted. The aggregate number of Equity Shares, which may be issued under the Plan, shall not exceed 518 (i.e. Five Hundred Eighteen) Equity Shares of face value of `10/- each.

Against each Stock Option 1 Equity Share of `10/- each having no exercise price, shall be issued if conditions specified in Grant letter are fulfilled .The Vesting Period shall commence from the date of Grant and shall not exceed beyond 4 (four) years from the date of Grant. The Vesting may occur in tranches as may be decided by the Board. Provided however that the Vesting Period shall not be less than 1 (one) year from the date of the Grant. The exact vesting period applicable to each grant shall be stated in the grant letter. The Exercise Period shall commence from the date of Vesting and can extend upto 5 (five) years from the date of grant of Options or such other period as may be decided by the Board and stated in the Grant Letter. The Vested options can be exercised by applying to the Company during the Exercise Period, by way of the Exercise Application. In case the Option is not exercised within the Exercise Period, the Options will lapse, without any obligations whatsoever on the Company/ the Board, and no rights or claims will subsist after that date with the employee. The shares arising out of exercise of vested options shall not be subject to any lock-in period as follows, Till the time Company does not get its Equity Shares listed on any recognized stock exchange or any Investor has expressed his willingness for buying out 100% equity, the ESOP Shareholders and the nominees or legal heirs, as the case may be, shall not be entitled to and shall not dilute their shareholding in the Company by way of sale, conveyance, exchange or transfer in any manner whatsoever without a written approval from the Board for the same. The Fair Value accounting method used for share based payment plan.

Movement during the year for K2v2 Technologies employees option Plan

==> picture [481 x 175] intentionally omitted <==

----- Start of picture text -----

(Amount in Lakhs, unless otherwise stated) Particulars As at March 31, 2023 As at March 31, 2022 weighted number of weighted number of average options average options exercise price exercise price per share per per share per option option ( ) ( ` )
Outstanding at the beginning of the year 10 154 10 72
Granted during the year 10 125 10 88
Forfeited / expected to be lapsed during the 10 17 10 6
year
- - - -
Exercised during the year
Expired during the year - - - -
Outstanding at the end of the year 10 262 10 154
- - - -
exercisable at the end of the year
----- End of picture text -----

Amount of employee Compensation expense recognized for employee services received during the year

Particulars	As on March 31, 2023	As on March 31, 2022
Expense arising from equity settled share based payment transaction	1	0

Fair value of option granted

The fair value of the options granted is mentioned below as per vesting period. The fair value of the options is determined using Black-Scholes-Merton model which takes into account the exercise price, the term of the option (time to maturity), the share price as at the grant date and expected price volatility (standard deviation) of the underlying share, the expected dividend yield and risk-free interest rate for the term of the option.

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

Fair value and assumptions for the equity-settled grants

Particulars	oct-21	oct-22	oct-23	oct-24	oct-25
Share Price in`	1,599	1,599	1,599	1,599	1,599
Risk Free Rate	4.99%	4.99%	4.99%	4.99%	4.99%
Time to Maturityinyears**	3.5	4	4.5	5.5	5.5
Dividend Yield	0%	0%	0%	0%	0%
Fair Value of Option(`)	1,591	1,591	1,591	1,592	1,593

Rationale for principle variables used

*Volatility is a measure of the amount by which a price is expected to fluctuate during a period based on the historic data. Since the Company is closely held, volatility is assumed to be nearing zero i.e. 0.01%.

52 CoMPLIAnCe wITH nuMBeR oF LAyeRs oF CoMPAnIes

The group has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

53 uTILIzATIon oF BoRRowed Funds And sHARe PReMIuM:

no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the group to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the group (Ultimate Beneficiaries).

The group has not received any fund from any party(s) (Funding Party) with the understanding that the group shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the group (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

54 undIsCLosed InCoMe

The group does not have any undisclosed income which is not recorded in the books of account that has been surrendered or disclosed as income during the year (and previous year) in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

55 The Board of Directors of the Company in its meeting held on July 23, 2021 has approved to include in the main objects clause of Memorandum of Association of the Holding Company - the business of Information Technology enabled services, software and technology model related to property management platform, customer digital experience, enterprise digital transformation, to be a proptech ecosystem by using tech enabled innovations like internet of things, artificial intelligence chatbots, machine learning, cloud support, blockchain, augmented and virtual reality, UI/UX design, data analytics, predictive analytics, robotic process automation, business intelligence, data science management, digital wallets, smart building technologies, fractional ownership, providing proptech solutions and all other related activities to proptech, in order to create an integrated digital ecosystem focused on complete value chain of real estate.
56 during the previous year ended March 31, 2022, the Company had received incorporation approval for two wholly owned subsidiaries viz. 1) Aurum Softwares and Solutions Private Limited and 2) Aurum RealTech Services Private Limited with authorized capital of 1000 Lakhs each. The Company has invested 600 Lakhs and ` 400 Lakhs respectively in the two wholly owns subsidiaries till the end of March 31, 2023.

212

213

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

57 evenTs AFTeR THe RePoRTIng PeRIod

58 sTATeMenT oF neT AsseTs, PRoFIT And Loss And oTHeR CoMPReHensIve InCoMe ATTRIBuTABLe To owneRs And non-ConTRoLLIng InTeResTs

net Assets

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(Amount in ` Lakhs, unless otherwise stated)
name of the entity As at March 31, 2023 As at March 31, 2022
As % of Amount As % of Amount
consolidated consolidated
net assets net assets
Parent entity
Aurum Proptech Limited 103% 24,108 100% 16,768
subsidiary
K2V2 Technologies Private Limited 5% 1,240 10% 1,684
Aurum Softwares and Solutions Private 3% 591 4% 594
Limited
Aurum RealTech Services Private Limited 1% 283 1% 198
Monk Tech Labs Pte. Limited 1% 118 0% -
Helloworld Technologies India Private Limited (8%) (1,963) 0% -
Integrow Asset Management Private Limited 1% 312 0% -
Aurum Analytica Private Limited 1% 313 0% -
106% 25,002 115% 19,244
non-controlling interest 5% 1,229 (12%) (2,066)
Intercompany elimination and consolidation (12%) (2,748) (2%) (370)
adjustments
Total 100% 23,483 100% 16,808
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share in Total oCI

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(Amount in ` Lakhs, unless otherwise stated)
name of the entity As at March 31, 2023 As at March 31, 2022
As % Amount As % Amount
consolidated consolidated
profit or loss profit or loss
Parent entity
Aurum Proptech Limited 28% (1,122) 76% (854)
subsidiary
K2V2 Technologies Private Limited 11% (445) 32% (357)
Aurum Softwares and Solutions Private 0% (3) 1% (6)
Limited
Aurum RealTech Services Private Limited 3% (115) 0% (2)
Monk Tech Labs Pte. Limited 7% (278) 1% (15)
Helloworld Technologies India Private Limited 3% (127) 0% -
Integrow Asset Management Private Limited 4% (149) 0% -
Aurum Analytica Private Limited 1% (46) 0% -
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NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

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(Amount in ` Lakhs, unless otherwise stated)
name of the entity As at March 31, 2023 As at March 31, 2022
As % Amount As % Amount
consolidated consolidated
profit or loss profit or loss
Associate
Integrow Asset Management Private Limited 3% (117) 5% (53)
60% (2,402) 115% (1,287)
non-controlling interest 28% (1,127) (19)% 214
Intercompany elimination and consolidation 12% (482) 4% (49)
adjustments
Total 100% (4,011) 100% (1,122)
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share In profit/(loss)

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----- Start of picture text -----

(Amount in ` Lakhs, unless otherwise stated)
name of the entity As at March 31, 2023 As at March 31, 2022
As % Amount As % Amount
consolidated consolidated
profit or loss profit or loss
Parent entity
Aurum Proptech Limited 28% (1,124) 76% (852)
subsidiary
K2V2 Technologies Private Limited 11% (445) 31% (351)
Aurum Softwares and Solutions Private 0% (3) 1% (6)
Limited
Aurum RealTech Services Private Limited 3% (115) 0% (2)
Monk Tech Labs Pte. Limited 7% (286) 1% (14)
Helloworld Technologies India Private Limited 3% (121) 0% -
Integrow Asset Management Private Limited 4% (150) 0% -
Aurum Analytica Private Limited 1% (46) 0% -
Associate
Integrow Asset Management Private Limited 3% (117) 5% (53)
60% (2,408) 115% (1,278)
non-controlling interest 28% (1,141) (19)% 211
Intercompany elimination and consolidation 12% (482) 4% (49)
adjustments
Total 100% (4,031) 100% (1,116)
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share in oCI

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215

Aurum PropTech Limited Annual Report 2022-23

Corporate Overview

Management Review

Financial Statements

Governance

NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 (Contd.)

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----- Start of picture text -----

(Amount in ` Lakhs, unless otherwise stated)
name of the entity As at March 31, 2023 As at March 31, 2022
As % Amount As % Amount
consolidated consolidated
profit or loss profit or loss
Aurum RealTech Services Private Limited 0% - 0% -
Helloworld Technologies India Private Limited (29%) (6) 14% (1)
Integrow Asset Management Private Limited 8% 2 0%
Monk Tech Labs Pte. Limited 38% 8 14% (1)
Aurum Analytica Private Limited 0% - 0% -
31% 6 143% (10)
non-controlling interest 69% 14 (43%) 3
Intercompany elimination and consolidation 0% - 0% -
adjustments
Total 100% 20 100% (7)
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59 The following Schedule III amendments is not applicable on the Group:
(i) The Group is not holding any benami property under the “”Benami Transactions (Prohibition) Act, 1988;
(ii) The Group do not have any transactions/balances with companies struck off under Section 248 of Companies Act, 2013 or Section 560 of the Companies Act, 1956;
(iii) The Group has not advanced or loaned or invested funds to any other persons or entities, including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:
- (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Group (Ultimate Beneficiaries) or
- (b) provide any guarantee, security or the like to or on behalf of the ultimate Beneficiaries;
(iv) The Group has not traded or invested in Crypto currency or Virtual Currency during the financial year;
(v) The Group does not hold any immovable property whose lease deed is not in the name of Group;
(vi) The Group has not revalued any of its property, plant and equipment or intangible assets.
(vii) The Group do not have any borrowings on the basis of security of current assets.
60 Previous year figures have been regrouped/ reclassified to confirm presentation as per Ind AS as required by Schedule III of the Act.
”0” denotes amount less than ` 0.5 Lakhs.

The accompanying notes are an integral part of the consolidated financial statements.

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217

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Registered Office: Aurum Q1, Aurum Q Parć, Thane Belapur Road, Navi Mumbai - 400 710 Tel: +91 22 3000 1700 | [email protected] | www.aurumproptech.in

/AurumPropTechLimited | /company/aurumproptechlimited | /aurumproptech | @aurumproptech

AI assistant

Aurum PropTech Limited — AGM Information 2023

62518_rns_2023-09-06_0781613e-1945-4db7-b437-0af71ea87a1a.pdf

NSE Symbol: AURUM

For Aurum PropTech Limited

(Formerly known as Majesco Limited)

NOTICE OF TENTH ANNUAL GENERAL MEETING

ORDINARY BUSINESS

SPECIAL BUSINESS

3. Approve the variation in the estimated amount of objects of rights issue proceeds

1. Adoption of Financial Statements

2. Retirement by Rotation

Notice (contd.)

Disclosure in the Letter of Offer vis-à-vis utilization Variation in the estimated amount of Issue Proceeds towards Product Development, Product Marketing objects

4. Approve the Material Related Party Transactions of the Subsidiaries of the Company

Notice (contd.)

NOTES:

Dispatch of Annual Report through Electronic mode

Notice (contd.)

INSPECTION OF DOCUMENTS

Notice (contd.)

INSTRUCTIONS FOR MEMBERS FOR ATTENDING THE AGM THROUGH VC/ OAVM ARE AS UNDER:

Notice (contd.)

THE INSTRUCTIONS FOR MEMBERS FOR REMOTE E-VOTING ARE AS UNDER:

Notice (contd.)

How do I vote electronically using NSDL e-voting system?

Step 1: Access to NSDL e-Voting system

A) Login method for e-Voting and joining virtual meeting for Individual shareholders holding securities in demat mode

Notice (contd.)

Login Method

Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through Depository i.e. NSDL and CDSL.

How to Log-in to NSDL e-Voting website?

Notice (contd.)

Notice (contd.)

Step 2: Cast your vote electronically and join General Meeting on NSDL e-Voting system.

How to cast your vote electronically and join General Meeting on NSDL e-Voting system?

General Guidelines for shareholders

Process for those shareholders whose e-mail IDs are not registered with the depositories for procuring user id and password and registration of e-mail IDs for e-voting for the resolutions set out in this notice:

Notice (contd.)

THE INSTRUCTIONS FOR MEMBERS FOR E-VOTING ON THE DAY OF THE AGM ARE AS UNDER:

EVOTING RESULTS

IEPF RELATED INFORMATION

Notice (contd.)

EXPLANATORY STATEMENT PURSUANT TO SECTION 102(1) OF THE COMPANIES ACT, 2013

Item No. 3

Item No. 4

Notice (contd.)

A 1. Transaction between Integrow Asset Management Private Limited ( IAML ) and Aurum Analytica Private Limited ( AAPL ) (Formerly known as Blink Advisory Services Private Limited):

Notice (contd.)

Notice (contd.)

A 2. Transaction between Monk Tech Labs Pte Limited (THML) and Monk Tech Venture Private Limited (MTVL ):

Notice (contd.)

A3. Transaction between Vartaman Consultants Private Limited (VCPL) and Intergrow Asset Management Private Limited (IAML):

Notice (contd.)

Notice (contd.)

A 4. Transaction between K2V2 Technologies Private Limited (K2V2) and Integrow Asset Management Private Limited (IAML):

Notice (contd.)

Onkar Shetye

ANNEXURE TO ITEM NO. 2

Across the PAges

01-36 Company Overview

Governance

Click the link below for more information: https://www.aurumproptech.in/

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Investor Information

Unleashing Potential: igniting growth

Aurum ProPtech ecosystem snAPshot

Aurum grouP: unleAshing PotentiAl. creAting long-term VAlue.

our mission

Aurum’s Portfolio

Aurum’s Presence

our group Values

Aurum grouP’s insPiring growth Journey

1999

2018

2009

2021

2011

2023

grouP ceo’s

Aurum PropTech Limited AGM Information 2023