Pansari Developers Limited — Interim / Quarterly Report 2023

Feb 14, 2023

www. pu rtireo lty.com

PURTI For a better tomorrow REALTY

Date i 14.02.2023

To

The National Stock Exchange of India Limited ExchangePlaza PIot no. Cll, G Block Bandra-Kurla Complex Bandra (E) Mumbai - 400.051

Scrip Code: PANSARI Sub: Outcome of the Board Meetins held on 14th February 2023.

Dear Sir/Madam

This is to inform you that in Persuance of Regulation 33 of SEBI (LODR) Regulation 2015 the Board of Directors of the Company in their meeting held today i.e, Tuesday, the 14th February, 2023 Started at 3.00 P.M and ended at 3.45 P.M has inter-alia , transacted the following businesses:

• Considered and approved the Standalone and Consolidated Financial Results of the Company for the quarterly and Nine Months ended 3 l't December 2022 which is enclosed. I
• 1. Considered and taken on record the Unaudited Financial Results (Standalone and Consolidated) and Limited Review Report Submitted by the Statutory Auditors of the Company for the Quarterly and Nine Months ended 3l'tDecember 2022 which is enclosed.

Kindly take the aforesaid information in your records.

Thanking You,

Yours Faithfully,

For Pansari Developers Limited

NEHA SHARMA

Digitally signed by NEHA SHARMA Date: 2023.02.14 16:02:09 +05'30'

Neha Sharma Company Secretary Membership No: A63186

Pansari Developers Ltd. Registered Office: 14, N. S. Rood, 4th Floor, Kolkoto - 700 001

(033) 400s 0500 info@purtireolty.com GSTIN. 19AABCP68O9N 1ZV CIN No. 172200W81996P1C079438

Kolkata 700 029 Phone : +91 (33) 40404743 I 4744 E-mail : info@garvca.com Website : www.garvca. com

Xmciependent Auditor's Review Report on unaudited Ind AS Standalone Quarterly and Half vc;u'13, I,'inancial Results of the Company Pursuant to the Regulation 33 of the SEBI {{.isting Obligations and Disclosure Requirements) Regulations, 2015,as amended

I{evielv Report to

The Board of Directors Pansari Developers Limited

• i . We have reviewed the accompanying Statement of Unaudited Ind AS Standalone Financial I{.csults of Pansari Developers Limited for the quarter ended December 31 ,2022, and year to date from April 1,2022 to December 31,2022 ("the Statement").The statement has been prepared by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('") -i sting Regulations").
• 1. This Statement, which is Responsibility of the company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measlrrement principles laid down in the Indian Accounting Standard 34 "Interim Irinancial Reporting"("Ind AS -34") Prescribed Under Section 133of the Companies Act,2013 as amended read with Relevant rules issued thereunder and other accounting Principles generally accepted in India. Our responsibility is to express a conclusion on the statement based on our review.
• j. \i c conducted our review in accordance with the Standard on Review Engagement (SRE) 2110, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by The Institute of Chartered Accountants of India. This standard rcquires that we plan and perform the review to obtain moderate assurance as to whether the tinancial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Network:GARV&Affilia Branch : 1g, R. N. Mukherjee Road, Eastern Building, 1st Floor, Kolkata 700 001 Kolkata I Bengaluru I Chennai I Guwahati I Hyderabad I Mumbai

"i I*asis for Qualified Conclusion

Kolkata 700 029 Phone : +91 (33) 40404743 I 4744 E-mail : info@garvca-com Website : www.garvca.com

We draw attention-

a) Regarding ascertainment of actuarial gain & loss on post-employment benefit expenses during the quarter ended December 31,2022 and the year to date from April 1,2022to j)ccember 31,2022 has not been considered by the management, which in our view is not in accordance with the Indian Accounting Standard (Ind AS) lg, "Employee Benefits" as prescribed under Section 133 of the Companies Act, 2013.

We are unable to comment on the consequential impact that may arise in this regard in these iir:iiricial results.

Our opinion is qualified in respect of the above matter.

Qualified Conclusion

• Flascd on our review conducted as above, except for the possible effects of our observation in paragraph 4(a) above, nothing has come to our attention that causes us to believe that tire accompanying Statement, prepared in accordance with the recognition and measurement Principals laid down in the aforesaid Indian Accounting Standards ('Ind AS') sii*cilied under section 133 of the Companies Act,2013 as amended, read with relevant ltules issued thereunder and other recognized accounting practices and Policies, has not disclosed the information required to be disclosed in terms of the Listing Regulations inch"rding the manner in which it is to be disclosed, or that it contains any material misstatement.
• {r. L}ther Matter

Attention is drawn to the fact that the figures for the quarter ended 3Oth September,2022, lbL the quarter & nine month ended 31st December,202l and for the year ended 31st Iv'larch, 2022 are based on previously issued standalone financial results and annual s;iirirdalone l.jnancial statements that were reviewed/audited by predecessor auditor (vide ti:,:ii'trnrnodilied limited review reports dated 21't November, 2022 and 14th February, ':l{:'^Z ancl unmodified audit report dated 3Oth May, 2022 respectively.

Our conclusion is not modified in respect of these matters

Date: 14tl' February, 2023 i)lirce: I(olkata i,l l) I N : 23062982BGRWNG8628

FoTGARV&ASSOCIATES Chartered Accountants Firm Registration No. 3 01 094E

AX*R*\t (ASHISH RUSTAGI) Partner Membership No.: 062982

Network : GARV & Affiliates Branch : 19, R. N. Mukheriee Road, Eastern Building, 1st Floor, Kolkata 700 001 Kolkata I Bengaluru I Chennai I Guwahati I Hyderabad I Mumbai

PANSARI DEVELOPERS LIMITED

Corporate Identity Number: L72200WB1996PLC079438

Statement of unaudited Financial Results for the Quarter ended 31st December, 2022

		(Rs in Lakh)
	Particulars	Standalone
Sl. No.			QUARTER ENDED	Nine Month Ended		Year Ended
		31st December2022	30th September2022	31st December2021	31st December2022	31st December2021	31st March2022
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
$\mathbf{1}$	Income from Operations
	(a) Revenue from Operations	858.38	545.92	1,352.84	1,856.46	2,853.16	3,714.89
	(b) Other Income	12.58	3.76	17.78	23.66	118.54	81.46
	Total Income	870.96	549.68	1,370.62	1,880.12	2,971.70	3,796.35
$\overline{2}$	Expenditure
	(a) Cost of sales	711.58	390.87	1,046.33	1,367.53	2,158.38	2,778.93
	(b) Employee Benefits Expenses	19.38	27.33	18.01	63.54	49.56	67.66
	(c) Finance Cost	5.51	7.07	2.58	21.89	48.96	60.67
	(d) Depreciation and Amortisation Expenses	47.89	46.20	80.32	136.02	136.63	182.30
	(e) Other Expenses	11.76	7.81	102.70	91.01	173.06	241.58
3	Total Expenses	796.12	479.28	1,249.94	1,679.98	2,566.59	3,331.13
4	Profit before Exceptional Items	74.84	70.40	120.68	200.14	405.11	465.22
5	Add: Exceptional Item
6	Profit before Tax	74.84	70.40	120.68	200.14	405.11	465.22
	Less: Tax Expense
	(a) Current Tax	12.25	11.70	18.73	33.05	50.82	69.87
	(b) Mat Credit Entitlement	5.51	3.80	11.10	10.74	19.41	30.69
	(c) Deferred Tax	(0.87)	4.25	0.06	0.88	1.36	0.48
	(d) Income tax for Earlier year	$\overline{\phantom{a}}$	2.56	÷,	2.56	۰	$\overline{\phantom{a}}$
7	Total Tax	16.89	22.30	29.89	47.23	71.58	101.04
8	Net Profit	57.95	48.10	90.79	152.91	333.52	364.18
	Other Comprehensive income (After tax)
	(a) Items that cannot be Reclassified to P&L A/c
	Fair Value through OCI of Equity Investment	(2.63)	(0.59)	(1.24)	0.15	4.40	545.90
	b) Income tax relating to above items		(1.10)				(60.19)
9	Total Other comprehensive income (a+b)	(2.63)	(1.69)	(1.24)	0.15	4.40	485.71
10	Total comprehensive income for the period (8+9)	55.32	46.41	89.55	153.06	337.93	849.88
	Paid Up Share Capital (Face Value Rs 10 each)	1,744.68	1,744.68	1,744.68	1744.68	1744.68	1,744.68
	Earning per share (Face Value Rs 10 each)
	(a) Basic	0.33	0.28	0.52	0.88	1.91	2.09
	(b) Diluted	0.33	0.28	0.52	0.88	1.91	2.09

Notes:

$(a)$ The Financial Results of the Company for the Quarter ended 31st December, 2022 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company in their respective meetings held on 14th February, 2023. The Statutory Auditors of the Company have carried out Audit of these results and the results are being published in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The financial results of the company have been prepared in accordance with Indian Accounting Standard (IND AS) notified under the companies (Indian Accounting $(b)$ Standard) Rules 2015 as ammended by the companies (Indian Accounting Standard) (Ammendement) Rules 2016.

$(c)$ The company does not have any extraordinary or exceptional items to report for the above period

$(d)$ The Company does not have more than one reportable segment.

The IND AS compliant corresponding figures in the previous years have not been subjected to review/audit however the company's management has exercised necessary due $(f)$ deligence to insure that such financial results provide true and fair view of its affairs

The figures for the quarter ended 31st December, 2022 are the balancing figure between the Unaudited figures in respect of nine month ended 31st December, 2022 and $(g)$ Published Figure upto the end of the 2nd quater ended 30th September, 2022

Figures of the Previous Periods have been re-arranged/regrouped where necessary to make them comparable. $(h)$

PANSARI DEVELORERS LIMITED

Dire

(DIN No. 00480731)

Mahesh Agarwal Director

Chlub Agar

Place: Kolkata

Date: The 14th of February, 2023

27 A1azra Road Kolkata 700 029 Phone : +91 (33) 40404743 I 4744 E-mail : info@garvca.com Website : www.garvca'com

[;:'o{etrtemdent Auditor's Review Report on unaudited Ind AS Consolidated Quarterly and i::rlf velal'ly F'inancial Results of the Company Pursuant to the Regulation 33 of the SEBI (i.isting Obligations and Disclosure Requirements) Regulationsr 20l5,as amended

I{cvicrv lteport to

'i'fuc lloilrd of Directors Pansari Developers Limited

• We have reviewed the accompanying Statement of Unaudited Ind AS Consolidated Financial Results of Pansari Developers Limited ("the Parent"), which includes its jointly controlled entities (the Parent and its entities together referred to as the "Group") and its share of net profit/(loss) after tax and total comprehensive income of its j ointly controlled entities for the quarter and Nine month ended 3 l't Decemb er, 2022 attached herewith being submitted by the Parent pursuant to the rcquirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure I{equirements) Regulations, 20I5, as amended.
• 1. fhis Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with ti-rc' recognition and measurement principles laid down in Ind AS-34 "Interim Irinancial Reporting" prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Unaudited Consolidated financial Statement based on our review"
• We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by The Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less iisslrrance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion a J

Network : GARV & Affiliates erjee Road, Eastern Building, 1st 700 001 Branch : 19, R. N. Mukh Kolkata I Bengaluru I Chennai I Guwahati I HYderabad I Mumbai

27 AHazra Road Kolkata 700 029 Phone : +91 f33) 40404743 I 4744 E-mail : itlfo@garvca.com Website : www.garvca.com

• ,-i. The Statement includes the results of the following entities:
  • a) Unipon Developers LLP
  • b) Papillon Developers LLP

7. Ilasis lor Qualified Conclusion

We draw attention-

b, i{cgarding ascertainment of actuarial gain & loss on post-employment benefit expenses during the quarter ended December 31,2022 and the year to date from April 1,2022to December 31 ,, 2022 has not been considered by the management, which in our view is not in accordance with the Indian Accounting Standard (tnd AS) 19, "Employee Ilenefits" as prescribed under Section 133 of the Companies Act, 2013.

Vre are unable to comment on the consequential impact that may arise in this regard in these financial results.

Our opinion is qualified in respect of the above matter.

1. We dicl not review the interim financial results ofjointly controlled entities included in the consolidated unaudited financial results; whose financial information reflects total assets of Rs 4441.54 lakhs as at 31't December, 2022 and total revenue of Rs 9.83 lahhs and23.19 lakhs and net profit after tax of Rs.7.96 lakhs and Rs.4.35 lakhs lbr the Quarter and half year ended on 31't December, 2022, as considered in the consolidated unaudited Ind AS financial results. The unaudited interim financial results and other unaudited financial information of these jointly controlled entities have not been reviewed by their auditors and have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs ol'these entities is based solely on such unaudited interim financial results and other runaudi ted fi nancial information.

Our conclusion on the Statement is not modified in respect of the above matters.

I)irrc: 14tl' February, 2023 l)lrice': I(olkata U D IN,, 23O6Z982BGRWNH9 1 76

FoTGARV&ASSOCIATES Chartered Accountants Firm Registration No. 301094E

Ad-A ?*+* (ASHISH RTISTAGI) Partner Membership No.: 062982

Network : GARV & Affiliates Branch : 19, R. N. Mukherjee Road, Eastern Building, 1st Floor, Kolkata 700 001 Kolkata I Bengaluru I Chennai I Guwahati I Hyderabad I Mumbai

PANSARI DEVELOPERS LIMITED
Corporate Identity Number: L72200WB1996PLC079438
Statement of unaudited Financial Results for the Quarter ended 31st December, 2022
							(Rs in Lakh)
		Consolidated
Sl. No.	Particulars	QUARTER ENDED			Nine Month Ended		Year Ended
		31st December2022	30th September2022	31st December2021	31st December2022	31st December2021	31st March 2022
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
$\mathbf{1}$	Income from Operations
	(a) Revenue from Operations	858.38	544.22	2,060.00	1,862.81	4,250.61	6,024.71
	(b) Other Income	16.08	3.53	9.50	26.73	18.61	37.46
$\overline{2}$	Total Income	874.45	547.75	2,069.49	1,889.54	4,269.22	6,062.17
	Expenditure
	(a) Change in Inventories	711.58	384.27	1,722.33	1,368.52	3,432.10	4,938.08
	(d) Employee Benefits Expenses	19.38	29.66	18.46	65.87	50.35	74.72
	(e) Finance Cost	5.51	9.27	24.91	24.09	71.30	137.94
	(f) Depreciation and Amortisation Expense	47.91	46.22	80.35	136.08	136.72	182.53
	(g) Other Expenses	12.08	7.92	102.82	91.65	173.64	242.80
3	Total Expenses	796.45	477.34	1,948.87	1,686.21	3,864.11	5,576.06
4	Profit before Exceptional Items	78.00	70.42	120.62	203.33	405.11	486.11
5	Add: Exceptional Item	٠	٠	٠		$\blacksquare$	$\overline{\phantom{a}}$
6	Profit before Tax	78.00	70.42	120.62	203.33	405.11	486.11
	Less : Tax Expense
	(a) Current Tax	12.26	11.70	18.74	33.07	50.89	90.77
	(b) Mat Credit Entitlement	5.51	3.80	11.10	10.74	19.41	30.69
	(c) Deferred Tax	(0.27)	6.802.57	0.06	4.042.57	1.36	0.48
7	(d) Income tax for Earlier yearTotal Tax	17.49	24.87	29.90	50.42	71.66	121.94
		60.50		90.71
8	Net Profit		45.54		152.91	333.45	364.18
	Other Comprehensive income (After tax)
	(a) Items that cannot be Reclassified to P&L A/c
	Fair Value through OCI of Equity Investment	(2.63)	(0.59)	(1.24)	0.15	4.40	545.90
	b) Income tax relating to above items	0.72	(1.10)		٠	$\overline{\phantom{a}}$	(60.19)
9	Total Other comprehensive income (a+b)	(1.91)	(1.69)	(1.24)	0.15	4.40	485.71
10	Total comprehensive income for the period (8+9)	58.60	43.86	89.48	153.06	337.85	849.88
	Paid Up Share Capital (Face Value Rs 10 each)	1,744.68	1,744.68	1,744.68	1,744.68	1,744.68	1,744.68
	Earning per share (Face Value Rs 10 each)
	(a) Basic	0.35	0.26	0.52	0.88	1.91	2.09
	(b) Diluted	0.35	0.26	0.52	0.88	1.91	2.09

Notes $(a)$

The Financial Results of the Company for the Quarter ended 31st December, 2022 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company in their respective meetings held on 14th February, 2023. The Statutory Auditors of the Company have carried out Audit of these results and the results are being published in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The financial results of the company have been prepared in accordance with Indian Accounting Standard (IND AS) notified under the companies (Indian Accounting Standard) Rules 2015 as ammended by the $(b)$ companies (Indian Accounting Standard) (Ammendement) Rules 2016.

$(c)$ The company does not have any extraordinary or exceptional items to report for the above period

The Company does not have more than one reportable segment. $(d)$

$(f)$ The IND AS compliant corresponding figures in the previous years have not been subjected to review/audit however the company's management has exercised necessary due deligence to insure that such financial results provide true and fair view of its affairs

The figures for the quarter ended 31st December, 2022 are the balancing figure between the Unaudited figures in respect of nine month ended 31st December, 2022 and Published Figure upto the end of the 2nd quater $(g)$ ended 30th September, 2022

PANSABLDEVELOPERS LIMITED

Mahesh Agarwal DirectorDirector(DIN No. 00480731)

aulinh Agammunt

Director

$(h)$ Figures of the Previous Periods have been re-arranged/regrouped where necessary to make them comparable.

Place : Kolkata Date: The 14th of February, 2023