Unitech

ANNUAL REPORT 2012-13
Homes that Inspire
Espace Premiere, Gurgaon

If a building becomes
Escape - Nirvana Country, Gurgaon
architecture, then it is art.
Unitech is one of Indias leading real estate developers reputed for
its fine design and construction. Since its inception, Unitech has
come a long way turning many a barren land into landmarks. It has
some of the most premium apartments and luxury villas in Noida,
Gurgaon, Kolkata, Bangalore and Chennai. Unitech luxury homes
are crafted and designed especially for the aficionados of luxury.

Income From Operations
in million)
HIGHLIGHTS
2012-13 24,405.40
24,182.98
Income from operations 24,405.40 Million
Prot After tax 2,095.68 Million

2011-12 2012-13
Consolidated Net-worth of 113,905.80 Million
Prot Before Tax*

EPS (before extraordinary items) 1.2, in million)
EPS (after extraordinary items) 0.8
4,454.50
Long term debt to equity ratio of 0.50 4,358.06
Sales Bookings of over 28,000 Million
Area Sold 5.47 million square feet
Area Launched 3.98 million square feet

2011-12 2012-13
Area Delivered over 3 million square feet
Over 100 ongoing projects, totaling Total Assets

in million)
an area of 38.34 million square feet
238,855.70
Bestowed with the Global CSR Excellence & 231,780.15

Leadership Award for CSR at the World CSR Congress
and Awards 2013
Felicitated as The Star Realty: Lord of the Land 2013
*Before extra-ordinary items 2011-12 2012-13

Company
Prole
On the one hand its about shelter,

but its also about pleasure
World Spa, Gurgaon ANNUAL REPORT 2012-13
ABOUT UNITECH
Established in 1971, Unitech is amongst Indias leading business groups, with an outstanding
track record in large-scale, integrated, Real-Estate Development and Infrastructure Development
in India.
The real-estate development journey for Unitech, since it started working on its rst real estate
project- South City spread over 300 acres in Gurgaon, has been truly remarkable. Today, Unitechs
land reserves are spread across all major hubs of economic activity in the country and the
Company focuses on large, mixed-use developments. The Companys diverse portfolio includes
residential, commercial, special economic zones (SEZs), IT Parks, industrial & logistic parks,
hospitality, retail and entertainment projects. The Companys infrastructure related businesses
include general construction, design, manufacturing, erection & commissioning of transmission
towers, facilities & property management services and township management services.
PARTNERSHIPS
Unitech has long partnered with internationally acclaimed architects and design consultants
including SOM (USA), BDP (UK), Maunsell AECOM (HK), MEA Systra (France), Callison Inc. (USA),
FORREC (Canada), SWA and HOK (USA) for various projects.
It has an enviable clientele for commercial projects including Fidelity, McKinsey, Bank of America,
Ford Motors, Nike, EDS, Hewitt, Amdocs, Ernst & Young, Reebok, Keane, Seagrams, Perfetti,
Exxon Mobil and AT Kearney.
CORPORATE CITIZENSHIP
Over the years, Unitech has been undertaking various activities in order to contribute to the
society.
Saankalp is a CSR initiative of Unitech. Unitechs employee volunteers drive this initiative which
focuses mainly on core development issues like healthcare, labour welfare, child education and
skill building.
The Company also undertakes several green initiatives such as rainwater harvesting, energy
efcient buildings and social forestry.

AWARDS AND RECOGNITIONS
The rst real estate developer to have

been certied ISO 9001:2000 in
North India
Indian Power Brand 2013 for being one of

the contributors towards creating India as
a brand
The Star Realty: Lord of the Land 2013

for being one of the iconic real estate
companies
Global CSR Excellence & Leadership Award

for Corporate Social Responsibility at the
World CSR Congress and Awards 2013
Realty Mogul for being an admired brand

in the real estate industry by Planman
Media in 2012
Power Brand 2010-2011 by the Indian

Consumer under the Realty category
Conferred with the title of Superbrand by

Superbrand India in 2009
CW Architect and Builders Award, 2008 for

being one of Indias top 10 Builders

CORPORATE INFORMATION
Executive Chairman Mr. Ramesh Chandra
Managing Directors Mr. Ajay Chandra

Mr. Sanjay Chandra
Non-Executive Director Ms. Minoti Bahri
Independent Directors Mr. G. R. Ambwani

Mr. Anil Harish
Mr. Sanjay Bahadur
Mr. Ravinder Singhania
Dr. P. K. Mohanty
Executive Vice-President & Chief Financial Ofcer Mr. Manoj Popli
Vice-President & Company Secretary Mr. Deepak Jain
Auditors M/s Goel Garg & Co.
Registered Ofce
Basement, 6, Community Centre, Saket, New Delhi-110017
Tel.: +91-11-26857331. Fax: +91-11-26857338
Corporate Ofce
Unitech House, L Block, South City-I, Gurgaon-122001
Tel.: +91-124-4125200. Fax: +91-124-2383332
Marketing Ofce
Signature Towers, Ground Floor, South City-I, Gurgaon-122001
Tel.: +91-124-4082020. Fax: +91-124-4083355
www.unitechgroup.com

CONTENTS
Chairmans Message 1
Directors Report 5
Management Discussion and Analysis 10
Corporate Governance Report 20
Consolidated Financial Statements 34

vi vii
Karma Lakelands, Gurgaon
Standalone Financial Statements 90
Statement Pursuant to General Exemption issued by

Ministry of Corporate Affairs (MCA) Under Section 212(8)
of the Companies Act, 1956 relating to Subsidiary Companies 153
Notice of the 42nd Annual General Meeting 158
Attendance Slip/Proxy Form 162

Chairmans
Message
Whatever good things we

build end up building us.

1 2
Dear Shareholders,
I am pleased to share with you that during the last scal

year, Unitech has shown continuous improvement in its
quarterly revenues and prots by remaining focussed on
execution. There has, however, been little improvement
in the macro-economic environment. To begin with, the
5% real GDP growth recorded in FY2013 is the lowest
in the last decade. Incremental Gross Fixed Capital
Formation, an indicator of investments in future growth
reduced to a mere 2.5% in FY2013. Then, amidst this
slowdown the Government has to deal with burgeoning
of two decits external trade related current account
decit adversely impacted by the high costs of oil
imports and the scal decit of the Government of India
that has not quite been able to nd a balance between
revenue collection and social spending. The only silver
lining has been some relief on ination that has allowed
the RBI to loosen its monetary policy and ease interest
rates to a degree.
On a qualitative note, procedural delays and inertia in decision making have affected progress of projects in the
infrastructure and real estate sectors. Clearly, we are operating in difcult times. However, being in business
for over four decades in India, I have seen much worse times. I remain condent of the potential of India. For
real estate, there is an intrinsic need for more and better housing in India. While grappling with all other issues,
the sector has immense scope for growth by meeting this
demand. With this faith, we at Unitech have been continuously
We at Unitech have been
recalibrating our strategy to meet the different challenges that continuously recalibrating
come before us periodically.
our strategy to meet the
Moving from the macro to the micro and discussing the different challenges that
developments at Unitech during the year brings in much
greater positivity in my tone and tenor. In last years Annual come before us periodically
Report, I had shared with you the stress that we were laying on improving our execution capabilities. While, on
the surface this looks a simple goal, in reality it is one of the toughest to implement effectively. In a focused
manner, we have effectively strengthened the building blocks of delivery and execution through FY2013. There
are several detailed day-to-day operational elements that go into better execution of projects. Without going
into these details, I will highlight some of the broader steps taken by your Company in FY2013 to enhance its
delivery capability.

First, we have restructured and strengthened our project management division. Second, the Company has
invested in increasing the strength and capabilities of its Construction division. This division, in a short period,
has scaled up signicantly and is currently handling over 20% of Unitechs construction activity. We expect this
to increase further during the current year. Apart from adding to the capacity, this division will also follow best
practices which could be adopted by other contractors with a view to deliver a quality product in a cost effective
manner. Third, given the large number of projects under execution, it is imperative to focus on strengthening the
contractor base. In this endeavour, the Company has started empanelling larger contractors who have better
experience and larger resources to effectively execute the projects.
Unitech Power Transmission Our internal efforts at enhancing execution were also
supported by the change in policy of the banks and nancial
Limited, the subsidiary institutions. There was an opening up of lending to individual
engaged in transmission real estate projects that had relatively better risk return
proles. This helped us fund our execution efforts better.
towers business recorded
More recently, in its Monetary policy statement in May 2013,
over 33% growth in revenues
the RBI has acknowledged that loans given to developers
for development of residential real estate projects carry relatively lower risk. Accordingly, RBI decided to relax
the lending norms for housing projects by lowering the standard asset provisioning requirement and risk
weight for loans given to those projects. This should further improve funding availability from commercial
banks and bring down the interest rates. This positive development will boost supply of residential product.
I have always maintained that the best way to maintain price stability in Indian context, where we have a huge
shortfall in urban housing, is by increasing supply of the right product rather than trying to constrict demand.
While fullling the basic need for housing, the real estate sector has a massive multiplier effect in promoting
economic growth through its various linkages and ability to create employment. Unfortunately, the sector has
various conicting stakeholders and often does not get the kind of holistic developmental approach from
the government that it warrants. The Government and all of us who are stakeholders of this sector need to
address all issues related to the sector like land, nance, skilled manpower and urban infrastructure to evolve
a comprehensive growth path for the sector at large. For example given the huge potential for employment
particularly of marginal unskilled and semi-skilled population, skill development for real estate should be a
national priority. We, at Unitech, are ready to extend our support in any such national endeavour.
Our non real estate businesses have also delivered good results. Unitech Power Transmission Limited, the
subsidiary engaged in transmission towers business recorded over 33% growth in revenues with an improvement
in protability. In FY2013, the Company started operations of food courts through Unitech Hospitality Limited
(UHL) in the ofce complexes developed by it in Gurgaon, Noida and Kolkata. In its rst year of operations,
UHL has succeeded in generating over 7 crore in revenues. The property management business continued to
register steady growth of 8.7% with a turnover of 127.84 crore in FY2013.

3 4
In another important development, we agreed to amicably settle all disputes with Telenor and completely exited
the telecommunication business. This has also helped us in bringing
Our newly constructed
about a greater focus on our core business of real estate.
commercial buildings
As a responsible corporate citizen, we continue with our efforts to work
for the community at large. Lot of emphasis is given on labour welfare,
in the NCR region
safety and training at our sites, our newly constructed commercial are all LEED certied
buildings in the NCR region are all LEED certied green buildings, and
our CSR group Sankaalp continues to undertake activities focused on
green buildings
social and community development. I am glad to share with you that we will be commencing operations this year
of the 1st Delhi Public School (DPS) in Chennai located at our Uniworld City Township. While we own the school
premises and other infrastructure, DPS Society will be managing it.
In a regulatory and socio-political environment where land acquisition is getting increasingly more difcult, our
large pan India land bank gives us major competitive strength to create value by developing real estate that is
tailor made for various customer segments. We will continue to focus on leveraging this strength to create long
term shareholder value.
As we move to a new chapter in our development path, I take this opportunity to thank all our stakeholders
our employees, our customers, our investors and the community at large for their relentless support. Together,
we have gone through some of the most turbulent times in our history in the last few years As we emerge out
of it as a more focused organisation with a clear strategic path, I urge you to continue to repose faith in the
organisation. You are our strength.
Regards,
Ramesh Chandra
Chairman

Directors
Report
It is impossible
to overdo luxury.

5 6
DIRECTORS REPORT
Dear Members,
Your Directors are pleased to present the 42nd Annual Report of your Company for the nancial year ended 31st March, 2013.
FINANCIAL RESULTS
Your Companys performance during the year as compared with that during the previous year is summarized below:
(Figures in million)
Particulars 2012-13 2011-12

1 Total Income 15,264.44 17,765.91
Less: Operating Expenses 9,500.67 10,307.72
2 Prot before Interest, Depreciation, Extraordinary Items and
Tax 5,763.77 7,458.19
Less: i) Interest 3,043.86 2,799.35
ii) Depreciation 55.98 3,099.84 67.76 2,867.11
3 Prot before Extraordinary Items and Tax 2,663.93 4,591.08
Less: Extraordinary Item 345.00 -
4 Prot before Tax 2,318.93 4,591.08
Less: Provision for Tax
i) Current 980.33 1,350.45
ii) Earlier year Tax 85.19 (2.84)
iii) Deferred (266.35) 799.17 (23.64) 1,323.97
5 Prot after Tax 1,519.76 3,267.11
6 Balance Carried over to Balance Sheet 1,519.76 3,267.11
FINANCIAL HIGHLIGHTS AND OPERATIONS Company, including its subsidiaries and joint venture companies,
for the year 2012-13 and period subsequent thereto are given
The total income of your Company for the year under review
hereunder:
is 15264.44 million. The Prot before tax stood at 2,318.93 million
and Prot after tax for the year under review stood at 1,519.76 New Project Launches and Sales
million. On consolidated basis, the total income of your Company During the year 2012-13, your Company launched new projects
and its subsidiaries stands at 26,293.00 million. The consolidated totalling an area of 3.98 million square feet across different cities
prot before tax (PBT) stood at 3,419.25 million. The consolidated in India. Of the total area launched in 2012-13, 0.44 million sqft
prot after tax (PAT) stood at 2,095.68 million. The earnings per was launched in Gurgaon, 2.17 million sqft in Noida and Greater
share (EPS), on an equity share having face value of 2/-, stands Noida, 0.21 million sqft in Chennai, and 1.06 million sqft in other
at 1.20 considering the total equity capital of 5,232.60 million. cities.
On consolidated basis, the real estate and related division The Company received sales bookings for a total area of 5.47
contributed 18,928.65 million in the revenues of your Company for million sqft during 2012-13 valued at 28,060 million. In terms of
the year, whereas the contribution from the Property Management area sold, with a share of 50%, Noida and Greater Noida had the
business was 1,278.39 million and from the Transmission Towers largest share of sales followed by Gurgaon with 14%, Chennai with
business was 2,678.99 million. Hospitality and other segments 13%, and Kolkata with 10%. Other cities contributed the balance.
contributed the balance revenues.
In terms of segment wise sales, 92% of the area sold was from the
residential segment while 8% was from non-residential. However,
the non-residential segment has a higher average realization of
KEY HIGHLIGHTS OF THE BUSINESS AND OPERATIONS
12,748 per sq feet compared to the residential segments
Some of the key highlights pertaining to the business of your average realization of 4,440 per sq feet.

DIRECTORS REPORT
Commercial Leasing Business DIRECTORS

A total of approximately 0.85 million sqft of space was leased out In accordance with the relevant provisions of the Companies Act,
during 2012-13 in the IT/ITeS projects that are being developed 1956 and Article 101 of the Articles of Association of the Company,
by the Company in Gurgaon, Noida & Kolkata. With this the total Mr. Ravinder Singhania and Dr. P.K. Mohanty, Independent
leased area has increased to 6.88 million sqft. Directors of the Company are liable to retire by rotation at the
ensuing Annual General Meeting and, being eligible, have offered
Project Execution and Delivery themselves for re-appointment. The Company has received Form
Your Company delivered over 3 million sqft of completed property DD-A from these Directors as required under the Companies
during the year. The Company currently has nearly 100 ongoing (Disqualication of Directors under Section 274(1)(g) of the
projects covering a total of 38.34 million sqft of area to be Companies Act, 1956) Rules, 2003.
constructed and delivered in the coming years. In order to efciently Further the approval of Shareholders pursuant to Section 269 of
execute the much higher scale of projects across markets, your the Companies Act, 1956 read with Schedule XIII thereof, is sought
Company had to substantially upgrade its operations. In 2012- for the re-appointment of Mr. Ramesh Chandra as an Executive
13, a lot of effort has gone into further enhancing the Companys Chairman; Mr. Ajay Chandra and Mr. Sanjay Chandra as Managing
internal execution capabilities. Directors of the Company on revised remuneration for a period of
More details about the business and operations of your Company ve years w.e.f from 1st January 2014.
are provided in the Report on Management Discussion and The brief resume and other details of the above directors, as
Analysis forming part of this Report. stipulated under Clause 49(IV)(G) of the Listing Agreement, are
furnished in the Corporate Governance Report forming part of
this Annual Report.
DIVIDEND
Appropriate resolutions seeking your approval to the aforesaid
Your Directors have not recommended any dividend for the year re-appointments are appearing in the Notice convening the
ended 31st March, 2013. 42nd Annual General Meeting of the Company.
SUBSIDIARIES DIRECTORS RESPONSIBILITY STATEMENT

In view of the general exemption granted by the Ministry of Pursuant to the requirements of Section 217(2AA) of the
Corporate Affairs, the annual accounts of subsidiary companies Companies Act, 1956 your Directors conrm that:
are not required to be attached to your Companys Accounts. i) in the preparation of the Annual Accounts for the nancial
The Board of Directors of your Company in their meeting held year ended 31st March, 2013, the applicable accounting
on 30th May, 2013 has given their consent, for not attaching standards had been followed alongwith proper explanation
the Annual Accounts of the Subsidiary Companies with that of relating to material departures;
the Company. Accordingly, annual nancial statements of the ii) the Directors had selected such accounting policies and
Subsidiary Companies and other documents required to be applied them consistently and made judgments and
attached under section 212(1) of the Companies Act, 1956 to the estimates that are reasonable and prudent so as to give a
Balance Sheet of the Company are not attached. However, these true and fair view of the state of affairs of your Company at
documents shall be made available upon request by any member the end of the nancial year and of the prot of your Company
of the Company interested in obtaining the same and shall also be for that period;
kept for inspection at the Registered Ofce of your Company and
that of Subsidiary Companies concerned. Further, the nancial iii) the Directors had taken proper and sufcient care for the
data of the Subsidiary Companies has been furnished along with maintenance of adequate accounting records in accordance
the statement pursuant to Section 212 of the Companies Act, with the provisions of the Companies Act, 1956 for
1956 forming part of this Annual Report. safeguarding the assets of your Company and for preventing
and detecting fraud and other irregularities;
iv) the Directors had prepared the Annual Accounts for the nancial
CONSOLIDATED FINANCIAL STATEMENTS year ended 31st March, 2013 on a going concern basis.
The Audited Consolidated Financial Statements of your Company
are prepared in accordance with the Accounting Standard
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
(AS) 21 on Consolidated Financial Statements read with
Accounting Standard (AS) 23 on Accounting for Investments in The Management Discussion and Analysis Report for the year
Associates and (AS) 27 on Financial Reporting of Interest in Joint under review as stipulated under Clause 49 of the Listing
Ventures, notied under Section 211(3C) of the Companies Act, Agreement with the Stock Exchanges is given separately forming
1956 read with Accounting Standards Rules as applicable. part of this Report.

7 8
DIRECTORS REPORT
REPORT ON CORPORATE GOVERNANCE Refer point (vi) of the Annexure to the Auditors
Report to the members The year gone by witnessed
The detailed Report on Corporate Governance and the certicate
slow and much needed recovery for the real estate
from M/s Sanjay Grover and Associates, Company Secretaries
sector, where, on one hand the liquidity positions
regarding compliance with the conditions of Corporate Governance
improved (more particularly due to ease in nancing
forms part of this report.
from Banks/FIs to real estate sector), on the other
hand the ination rate declined, thereby giving an
impetus to the sector as a whole. Consequently, as
AUDITORS AND AUDITORS REPORT compared to the previous years, the performance
Statutory Auditors of your Company and its liquidity positions, during
the year, improved. Therefore, from 31st December,
The Auditors, M/s. Goel Garg & Co., Chartered Accountants, 2012 onwards, there were no delays in repayment
hold ofce until the conclusion of the ensuing Annual General of matured and claimed deposits accepted by the
Meeting and being eligible are recommended for re-appointment. Company; also the Company duly maintained the
A certicate from the auditors has been received to the effect that required mandatory investments under Rule 3A of the
the re-appointment, if made, would be in accordance with Section Companies (Acceptance of Deposit) Rules, 1975 in
224(1B) of the Companies Act, 1956. the last quarter of the nancial year 2012-13.
A) The Auditors in their Report to the members, have given one Refer point (xi) of the Annexure to the Auditors
qualied opinion and the response of your Directors with Report to the members As already explained in the
respect to it is as follows:- preceding paragraph, your Company is recovering from
The advances of 9,248,788,996 (previous year the tough times in the recent past and the liquidity
16,074,305,962) were given in the normal course of positions are also slowly witnessing improvements. It
business for the purchase of land, projects pending is therefore, during the previous year, there still were
commencement, joint ventures and collaborators. The delays in repayments of dues (including interest) to
management is condent of recovering/ adjusting the Banks and Financial Institutions. But your Company is
balance advances in due course. committed for better times ahead and is hopeful of an
improved business prospects in coming years.
B) The Auditors in their report to the members, have stated two
Emphasis of matter and the response of your Directors on Further, in respect to the delays in the repayment
them are as follows:- of dues to debenture holders, it is submitted that
these debentures have already been restructured/
Response to Point (i) rescheduled during the year and the delays in
The management does not consider any adjustment in repayments are attributable to the procedure part.
respect of the balance of short term loans aggregating Branch Auditors
to 3,674,531,405 and investments aggregating to
273,980,098 because the matters are sub-judice Pursuant to Section 228(3)(a) and other applicable provisions, if
and the management is hopeful of recovery of the any, of the Companies Act, 1956 and subject to the approval of
same. shareholders in the General Meeting, the accounts of a branch
can be audited otherwise than by the Companys auditors and the
Response to Point (ii) Board of Directors, in consultation with the Companys auditors,
can appoint such branch auditors.
As already explained in the said emphasis of matter
itself, the management is not currently in a position Accordingly the approval of the shareholders is sought to authorize
to ascertain how and in which group Company the the Board of Directors of your Company to appoint, in consultation
obligation is likely to devolve and thus, the consequent with the Statutory Auditors of the Company, any person other than
impact, if any, on the nancial statements, in future, the Statutory Auditors, the Auditors for any branch ofce of your
of the Company or afliate/associate, as the case Company, which is already opened or is to be opened.
may be, is currently not ascertainable. Further, in
event of settlement not going through between the
Company and Telenor Asia Pte. Ltd. as explained in CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT,
Note 49 to the nancial statements, the impact, if TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS
any, on the nancial statements is also currently not AND OUTGO
ascertainable.
Since your Company does not own any manufacturing facility, the
C) Further, the Board also gives the following explanations, on requirements pertaining to disclosure of particulars relating to
the comments of the Auditors in the Annexure to Auditors conservation of energy, research & development and technology
Report to the members:- absorption, as prescribed under the Companies (Disclosure of

DIRECTORS REPORT
Particulars in the Report of Board of Directors) Rules, 1988, are provisions of Section 219(1)(b)(iv) of the Companies Act, 1956, the
not applicable. Directors Report and the Accounts are being sent to all members
of the Company excluding the aforesaid information. Any member
interested in obtaining such particulars may write to the Company
FOREIGN EXCHANGE EARNINGS AND OUTGO Secretary at the registered ofce of the Company. This statement
shall also be available for inspection at the registered ofce of the
Your Company is engaged in developing/constructing residential
Company during the working hours prior to the date of the Annual
and commercial properties in India and selling the immovable
General Meeting and will also be available for inspection at the
properties to customers in India and abroad. Your Company
receives remittances of sale consideration for immovable meeting.
properties located in India, purchased by the customers abroad.
The foreign exchange earnings and expenditures of the Company ACKNOWLEDGEMENTS
during the year under review were 207.34 million and 175.68
million as compared to 45.98 million and 87.81 million in the Your Directors would like to express their sincere appreciation for
previous year respectively. the cooperation and assistance received from its bankers, nancial
institutions, government as well as non-government agencies.
Your Directors also wish to place on record their deep sense of
FIXED DEPOSITS appreciation to the contribution made by employees, customers,
Your Company has Fixed Deposits to the tune of 5,963.20 million clients, vendors and other business associates for their continued
as on 31st March, 2013. 2072 deposits aggregating 100.08 trust, cooperation and support. Your Directors are thankful to the
million were due for renewal/repayment on or before 31st March, shareholders and deposit holders for their continued patronage.
2013 against which no communication was received from the
deposit holders.
For and on behalf of the Board of Directors
PARTICULARS OF EMPLOYEES
Ramesh Chandra
In accordance with the provisions of Section 217(2A) of the
Chairman
Companies Act, 1956, read with the Companies (Particulars
of Employees) Rules, 1975, the names and other particulars Place: Gurgaon
of employees forms a part of this report. However, as per the Date: 30th May, 2013

9 10
Management
Discussion
and Analysis
The home should be the

treasure chest of living.

MANAGEMENT DISCUSSION AND ANALYSIS
OVERVIEW reect this phase of development as the accounting of

revenue is on a percentage of completion of the projects.
Unitech Limited (also referred to as Unitech or the Company)
Many of Unitechs projects are in this stage. The Company
is one of the countrys premier real estate developers with a pan
is providing much greater emphasis and management
India presence. The developments in its business are thus closely
bandwidth to increase the speed of construction and improve
correlated to the developments in the real estate sector in India.
project delivery.
As per the industry reports, the total economic value of the real
Across all these phases there are two critical factors. First, it is
estate activity in the country ranges between US$40-45 billion,
the ability to understand demand and develop products that have
which contributes 5-6% to the GDP growth. Of its total size,
a market. There are often developments on the demand front,
residential segment, with 90-95% size, forms the major chunk
which have a major bearing on this. Second, the entire chain has
of the market, followed by the commercial segment (4-5%) and
different elements of nancing that sustain the project through its
organised retail segment (1%).Clearly, the residential sector is the
life cycle. Right from investments in land, to nancing construction
driving force of the industry.
cash ows play a critical role in deriving the best value from a
Over the last decade, residential real estate market has witnessed project. Both market demand and nances are often affected by
many changes from experiencing unprecedented growth to the external environment.
negligible demand in the aftermath of the nancial crisis to
moderate growth during the last couple of years. There was also
shift in demand away from investors to actual end users. Unitech THE MACRO ENVIRONMENT
has been continuously recalibrating its strategy to deal with this
That the Indian economy is slowing down is very evident. Estimates
changing business environment.
from the Central Statistical Organisation (CSO), Government of
Essentially, real estate development is a business of asset India (GoI) suggest that real GDP growth reduced further from 6.2%
development and creation. There are four broad phases of the in 2011-12 to 5% in 2012-13. This is the lowest growth recorded
value creation process: in the last decade and far below the 8%-9% annual growth rates
envisaged for the economy in the long term plans of the GoI. What
Acquisition of Land: Securing land at appropriate locations
is even more worrisome is the fact that over the last 10 quarters
at economic values is fundamental for the value generation
the situation has gotten progressively worse (see Chart A).
process. Going forward, the proposed Land Acquisition Bill,
while well intentioned for overall socio-economic reasons,
CHART A REAL GDP GROWTH (%)
could make the land acquisition process more difcult
for developers. At a time when developers have to spend
12%
more effort and money on securing land, Unitech has the 10.1
competitive advantage of already having a cost effective 10%
7.5
land bank, which is well spread across India. The Company 8% 6.5
6.0
can effectively develop this land bank by creating different 6% 5.1 5.4 5.2
4.7 4.8
products that can effectively meet the varying demand needs
of housing in India, be it low income, affordable or high-end. 4%
2%
Project Development: The second stage is about designing
and developing the project concept and creating offerings 0%
Q4, 10-11
Q1, 11-12
Q2, 11-12
Q3, 11-12
Q4, 11-12
Q1, 12-13
Q2, 12-13
Q3, 12-13
Q4, 12-13
that can be suited for specic target customers. At this stage
focus is on getting the appropriate clearances, development
rights and architectural inputs to outcompete the market in
terms of product. Unitech has been continuously launching Source: Central Statistical Organisation, Government of India
new projects and the pace of these launches had picked
up since 2009. As of today, the Company has 38.34 million
The structure of economic growth is also not very encouraging for
square feet of property under construction.
the immediate future. Incremental Gross Fixed Capital Formation
Selling: Once the project concept is developed, it has to be (GFCF), which gives an indication of the creation of growth
sold. The buyers market is today largely with end users and promoting assets in an economy, has also reduced from high
this has changed the process of selling. Unitech is giving a lot levels of 14% in 2010-11 to 4.4% in 2011-12 and further down to
of emphasis on making the sales process more effective so a mere 2.5% in 2012-13.
that the Company can get the best value for its products. It
Headline and especially the non-food manufactured product
has also started laying more emphasis on the digital media to
ination pressures, softened during 2012-13, even as consumer
better reach out to nal customers.
price ination rmed up. The average headline WPI ination during
Construction and Project Delivery: Finally, the projects need 2012-13 at 7.4% was signicantly lower than the 9.0% ination
to be executed and delivered. The revenues of the Company witnessed in 2011-12. While this has been a respite, the overall

11 12
economic uncertainties have created a major negative sentiment CHART B BENCHMARK INTEREST RATE
in investments and consumption in India.
9
Monetary policy eased during 2012-13, in response to some
softening of ination and signicant moderation in growth. 8
However, monetary policy response to addressing growth concerns
7
was constrained by retail ination persistence and the twin decit
risks that prevailed for most part of the year. Although scal risks 6
were lowered during second half of 2012-13, current account 5
decit (CAD) risks intensied during Q2 and Q3. The current
account decit (CAD) to GDP ratio reached a historic high of 6.7% 4
Jul/10 Jan/11 Jul/11 Jan/12 Jul/12 Jan/13
in Q3, 2012-13. Chart B shows that the benchmark interest rate or
the repo rate has reduced in the second half of 2012-13 to levels Source: www.tradingeconomics.com | Reserve Bank of India
around 7.25%, which is what it was in the middle of 2011. While
this is a reection of easing in interest rates, the aggregate levels
are still fairly high. CHART C CONSTRUCTION GROWTH, REAL TERMS (INDIA)
The impact of monetary policy in boosting GDP growth is contingent 12 10.2

upon resolution of supply bottlenecks, governance issues
10
impeding investments and the governments efforts towards scal
consolidation. 8
5.6
6
In addition, India is also facing challenges in implementation 4.3
of projects due to issues such as difculties in land acquisition, 4
delays in environmental clearances, socio-political restrictions, 2
ambiguity on the policy front, and inertia of decision making 0
amongst Government agencies. 2010-11 2011-12 2012-13
Source: MOSPI, Government of India

REAL ESTATE AND CONSTRUCTION INDUSTRY
In light of this economic slowdown, it is natural to witness a CHART D NATIONAL HOUSING BANK - RESIDEX
reduction in construction activity. As Chart C shows Construction
growth has reduced to 4.3% in 2012-13 after reaching the high 350 Hyderabad
levels of 10.2% in 2010-11. 300 Ahmedabad
250 Chennai
During the year, residential property prices either remained Jaipur
200
stable or witnessed gradual appreciation across most cities of Lucknow
150
the country. Chart D plots The Residex- an index of residential Pune
100
property prices developed by the National Housing Bank of India, Kolkata
50
which is indexed to 100 based on prices prevailing in 2007. Mumbai
0
Bengaluru
More importantly, the long term prospect for housing in India
Jan-Mar 2011
Apr-Jun 2011
Jul-Sept 2011
Oct-Dec 2011
Jan-Mar 2012
Apr-Jun 2012
Jul-Sept 2012
Oct-Dec 2012
Jan-Mar 2013
Delhi
remains intact.The higher rates of economic growth witnessed
over the last decade coupled with the integration of the Indian
economy with that of the world following the liberalization in
1991 has seen ongoing urban expansion. Chart E shows that
in the decade between 2000-01 and 2010-11, urbanisation
levels have increased from 27.8% to 31.2%. Although the pace
CHART E URBANISATION RATE IN INDIA (%)
and potential of this growth has constantly been the centre of
much debate, it is estimated that by 2030, 40% of the countrys 35 31.2
27.8
population will be living in urban areas. This kind of urbanisation 30 23.3
25.7
has to be supported by commensurate housing developments 25
18.0 18.2
for sustainable growth. 20
15
Today, there is still a gap between housing demand driven by growth 10
and urbanisation and supply. According to a report submitted by a 5
technical committee to the Ministry of Housing and Urban Poverty 0
1960-61 1970-71 1980-81 1990-91 2000-01 2010-11
Alleviation (MHUPA), Indias urban housing shortage is estimated
at around 18.78 million households in 2012. Consequently, pure Source: Census of India, 2011

need based demand for housing will continue to stay in India for The salient features of the performance are:
some time. It will be important to stratify this demand according to
Income from operations was maintained registering a 1%
affordability and offer appropriate real estate solutions.
growth to 2,440.54 Crores.
On the nancing front, situation has continuously improved from In line with top-line growth, EBIDTA (excluding other income
the beginning of the year. Banks and nancial institutions have and extraordinary item) growth was also 1% from 324.54
started increasing their exposure to the real estate sector in crore in FY2012 to 327 crore in FY2013. Real estate,
terms of increased project loans. This has helped companies like construction and other expenses reduced from 59% of sales
Unitech to access construction nance for its projects and scale in FY2012 to 57% of sales in FY2013; and other expenses
up construction activity. For customer, with slight easing of home also reduced as a percentage of income from operations
loan rates, affordability of residential properties has improved. from 17% in FY2012 to 14% in FY2013.
Having said so, mortgage rates are still high compared to other
global countries. Finance costs reduced from 56.28 crore in FY2012 to
30.53 crore in FY2013.
The Company has a healthy Balance Sheet with a long term
FINANCIAL REVIEW debt to equity ratio of 0.50. As of 31st March, 2013, Unitechs
consolidated net worth is 11,290.58 crore. Prot Before
In this milieu, Unitech has delivered a stable result and maintained
Tax (PBT) before extraordinary item increased by 2.2% from
revenue at last years levels. Table 1 lists the summarised statement
435.81 crore in FY2012 to 445.45 crore in FY2013.
of prot and loss for Unitech Ltd, as a consolidated entity.
The Company and its subsidiaries have accounted for 103.52
crore with respect to diminution in the value of its investments
ABRIDGED STATEMENT OF PROFIT
TABLE 1
AND LOSS CONSOLIDATED
( CRORE) in Unitech Wireless Companies and related losses on account
of cessation of telecom operations of Unitech Wireless
Particulars 2012-13 2011-12 Companies post-cancellation of their telecom licenses and
non-participation in recent spectrum auctions of DoT. This is
Income from operations 2440.54 2418.30 accounted for as an extraordinary item.
Operating Expenditure 2113.54 2093.76
Prot after tax (PAT) after accounting for minority interest,
EBIDTA (excluding other income) 327.00 324.54 prot or loss of associates and extra-ordinary items was
209.57 crore in FY2013 a reduction of 11.7%.
Depreciation 39.84 43.40
Earnings Per Share (EPS) before extraordinary item increased
PBIT (excluding other income) 287.16 281.14
from 0.91 in FY2012 to 1.2 in FY2013, while EPS after
Other income 188.76 211.61 extraordinary item is 0.8.
Finance Cost (30.53) (56.28)
Prior Period Adjustments 0.06 (0.66) UNITECHS REAL ESTATE BUSINESS
PBT (excluding extraordinary items) 445.45 435.81 Unitechs primary focus during the year was on ramping up
Tax 137.77 189.59 execution. For the full year, revenues from the real estate business
reduced by 6.1% from 2,015.82 crore in FY2012 to 1,892.86
PAT (excluding extra-ordinary items) 307.68 246.22
crore in FY2013. It is, however, important to note that the quarterly
Extra-ordinary items (103.53) - revenues displayed a steady upward trend through FY2013 from
318.27 crore in Q1 FY2013 to 629.82 crore in Q4 FY2013 as
PAT 204.15 246.22
shown in Chart F. This is a reection of the continuous ramp up in
Minority Interests 4.82 (8.07) construction activity during the year.
Prot / (Loss) of associates 0.60 (0.77)
CHART F QUARTERLY REVENUES - REAL ESTATE ( CRORE)
PAT (net) 209.57 237.38
800
629.82
600 512.87
The accounts are prepared according to the percentage of 431.9
400 318.27
completion method where revenues and costs are accounted for
based on the progress of project execution. While there are efforts 200
at project launches and sales, much of the nancial performance
0
is a reection of the quality of execution. Q1, FY2013 Q2, FY2013 Q3, FY2013 Q4, FY2013

13 14
The operational highlights in the real estate business are: imperative to identify the specic requirements of customer
groups and cater to multi-segmented markets. The properties are
Achieved over 2,800 crore of sales bookings in FY2013
being developed across a wide variety of segmentations, which
Over 3 million square feet area delivered during FY2013 extend across:
Handing over is in progress in 23 out of 32 ongoing projects Plots, low-rise, mid-rise and high-rise developments
launched before March 2009
Suburban as well as city centre developments
Handing over started in 7 projects where the projects were
Affordable to luxury housing
launched post March 2009
In addition to the widespread types of property, there is also a
high degree of geographic distribution. Today, the Company has a
NEW PROJECT LAUNCHES AND SALES presence across all large metropolises across the four regions of
India NCR (North), Bangalore and Chennai (South) and Kolkata
Unitech has a large diversied pan-India land bank. This core
(East).It also has a presence in several Tier 2 and Tier 3 cities
asset allows the Company to offer a wide variety of products that
out of which projects are in advance stage in Mohali and Bhopal.
are tailor-made for specic market segments in the realty sector.
These land banks have been carefully selected with high growth
Increasingly, with the market being largely end user driven, it is
potential.
CHART G NEW LAUNCHES AND SALES BOOKING
5.00 Area Launched (mn sq.ft.) 1,200
1,068 Area Sold (mn sq.ft.)

4.50 1,100
1,035 4.29 Sales Value ( Cr.)
1,020 941 1,000

4.00 975
900
835
3.50 779
3.21 800
Area ( in Million sq.ft.)
3.00 2.78 700

701
INR Cr.
676
2.50 600
2.20 593
1.97 1.90 500
2.00 1.80 1.79
1.69 1.64
1.57 1.51 1.54 400
1.50 1.27 1.36
1.18 300
1.06
1.00
0.64 0.60 200
0.47
0.50 100
0.00 0
Q3, 2010-11 Q4, 2010-11 Q1, 2011-12 Q2, 2011-12 Q3, 2011-12 Q4, 2011-12 Q1, 2012-13 Q2, 2012-13 Q3, 2012-13 Q4, 2012-13
Time Period
TABLE 2 NEW LAUNCHES IN FY2013
City Area Launched (mn sq ft) Area Sold (mn sq ft) Sales Value (INR Cr)
Gurgaon 0.44 0.75 639
Noida & G Noida 2.17 2.71 1407
Chennai 0.21 0.69 186
Kolkata 0.10 0.56 297
Other Cities 1.06 0.76 277
Total 3.98 5.47 2806

With the stress on execution and delivery of existing projects, the CHART H QUARTERLY POSSESSION STATUS
Company launched fewer new projects during the year. However,
it continued to keep pace on sales from a mix of new and existing 1.00 0.91
projects. Chart G shows that sales bookings gradually declined 0.90
Area (in mn Sq. ft.)

0.80 0.78
from 1.51 million square feet in Q1 FY2013 to 1.06 million 0.69
0.70
square feet in Q4 FY2013. On the other hand new area launched 0.59 0.59
0.60 0.53
dropped from 1.27 million square feet in Q1 FY2013 to 0.60 0.50
million square feet in Q4 FY2013. 0.40
0.30
Table 2 lists the total area of projects launched across different 0.20
0.10
geographies. Of the total 3.98 mn sqft launched in FY2013, the 0.00
largest share of 2.17 mn sqft was in Noida and Greater Noida, Q3 Q4 Q1 Q2 Q3 Q4
1.06 mn sqft was in other cities, while Gurgaon saw 0.44 mn 2011-12 2011-12 2012-13 2012-13 2012-13 2012-13
sqft on new launches, Chennai 0.21 mn sqft and Kolkata 0.10 Time Period
mn sqft.
For project launched after March 2009: 0.98 million sqft
In total, 5.47 million sqft valued at 2,806 crore was sold during
has been delivered, of which 0.78 million was delivered in
FY2013. This is the addition to the Companys order book. Out
FY2013. The balance area under development is 27.71
of this, 2.71 million sqft was sold in Noida and Greater Noida,
million sqft
0.76 million sqft in other cities, 0.75 million sqft in Gurgaon,
0.69 million sqft in Chennai and 0.56 million sqft in Kolkata. For Leased Projects: 0.85 million sqft was delivered in
FY2013
In terms of area sold, 92% was from the residential segment
while 8% was from non-residential. The non-residential segment With the new launches and the existing projects, Unitech is
had a higher average realisation of 12,748 per sqft compared today actively involved in construction work on over 100 on-
to the residential segments average realisation of 4,440 per going projects. In order to efciently execute the much higher
sqft. This type of commercial development is primarily part of scale of projects across markets, Unitech has been working on
mixed land use development. substantially upgrading its operations. These efforts continued
with zeal in FY2013.
The sales activities have been supported by several innovative
initiatives. To begin with, the Company has increased its There are several efforts being undertaken to increase capacity,
presence on the digital media by placing itself on real estate reduce construction time as well as costs. These include:
related portals and other popular websites. 14% of overall sales
Product Standardisation: High volume standardised
and around 25% direct sales were generated from the digital
manufacturing style product will result in economies of scale
platform.
and faster execution
The sales team is being further supported with tools for lead
Process Change: Implementing various process changes to
management and stock management. The Company has set
speed up construction
up a centralised call centre to capture and manage leads. The
call centre has SAP at its back end managing the calls. Stock In-house architectural design: Architectural design especially
management system provides real time inventory data of various for mid/affordable housing being undertaken in-house for
projects to sales executives. All these measures help better faster turnaround
target sales effort and make it more effective.
In-house engineering design: Enhance in-house engineering
design capabilities. This team also critically evaluates designs
by external rms to reduce costs.
PROJECT EXECUTION
Expanding the Contractor base: With projects in multiple
Since FY2012, the Companys focus has been on project execution.
cities, Unitech is tapping the local contractor base in different
And, the Companys pace of execution gathered steam during
cities to build a solid contractor base. It is also using large
FY2013. Chart H plots the quarter wise possession status data.
contractors for complex projects
Today, Unitech has a total of 38.34 million sqft of ongoing projects.
Higher Mechanisation: Incentivising contractors to deploy
Out of which, 10.63 million sqft of area pertains to the projects
more equipment
launched prior to March 2009 and 27.71 million sqft is from projects
launched after March 2009. The delivery status is as follows: Construction Division: Unitechs construction division being
developed as model contractor to boost execution capability
For projects launched prior to March 2009: 14.26 million
sqft has been delivered. Of which, 1.58 million sqft (11%) was Worker Strength: Continuously ramping up worker strength at
delivered in FY2013. The balance area left to be delivered is sites during FY2013. Current strength is at historical peak
10.63 million sqft
The pace of execution is reected in the status of projects.

15 16
Status of projects launched prior to March 2009 Commercial Leasing Business

Chart I gives the various stages of execution as on 31 March,
st In the commercial development space, Unitech operates through
2013 for ongoing projects that were launched prior to March 2009. a lease-out model for the IT/ITeS ofce developments, where
the focus is on regular cash ows from lease rentals, while the
Importantly, 96% of these projects are in the nal stages of underlying physical asset remains under the ownership of the
nishing and handover or structure complete and internal work Company. Hence, such development is not reected in the non-
in progress. residential sales numbers reported in the preceding section.
While the market for commercial leasing has been affected with
CHART I STATUS OF PROJECTS LAUNCHED BEFORE the general economic slowdown, Unitech with its large offerings
MARCH 2009 beneted from the customers preferred choice of consolidating
ofce space with a view on cost reduction.
Unitechs IT/SEZ projects are all under the umbrella of Unitech
Corporate Parks Plc, a Company listed on the AIM market of the
London Stock Exchange. In effect this entity owns 60% of the six
ongoing Unitechs commercial IT/SEZ projects, while the balance
40% is owned by Unitech Limited. Unitech also has a stake of
13.62% in Unitech Corporate Parks Plc.
According to the quarterly releases of renowned real estate
consulting rm CB Richard Ellis, ofce space absorption in
CY2012 was around 27 million sqft, which is a fall of 23% over the
35 million sqft absorbed in CY2011.Total ofce space added was
Pre-construction 4% about 31 million sqft. in 2012. Of this, 10 million sqft was added in
Structure Complete, Internal Work in Progress 15% Oct-Dec 2012. Bulk of the new supply was limited to NCR, Mumbai
Handover/Finishing 81% and Bangalore, which together contributed to about 75% of the
entire space completed. About 60% of the supplies comprise IT
and SEZ space. Rental values remained largely stable across most
Status of projects launched since March 2009 micro markets as occupier expansion faced cost pressures and
Chart J gives the various stages of execution as on 31st March, consolidation continued to be the key theme.
2013 for ongoing projects that were launched since March 2009.
Structure complete and internal work in progress in 32% of the UNITECHS INFRASTRUCTURE RELATED BUSINESS
area under development while handover and nishing has started
Unitechs infrastructure related businesses include:
in 11% of the area under development. Importantly, project
execution has commenced for 96% of the area. General construction, design, manufacturing, erection and
commissioning of transmission towers.
CHART J STATUS OF PROJECTS LAUNCHED POST
MARCH 2009 Development of hospitality projects, amusement parks,
logistic parks, SEZs & IT Parks and industrial parks
The infrastructure services businesses including facilities and
property management services and township management
services.
A brief description of developments in the various businesses in
the infrastructure portfolio is given below:
General Construction: In the general construction business,
Unitech has expertise across real estate projects including
townships, residential complexes, corporate ofces, shopping
centres and hospitality projects. It has a proven track record in
building industrial civil structures and in transportation projects,
Yet to start 4%
such as highways, yovers and bridges. The focus on the
Handover/Finishing 11%
construction business is to promote construction excellence and
Pre-construction Activities in progress 14%
service the construction needs of Unitechs real estate business.
Structure complete, internal Work in progress 32% In essence, it will grow as a vendor to Unitechs real estate
Piling/Structure Work in Progress 39% construction requirements.

The team for this business has been increased signicantly. It constructing a new manmade lake. Helium air balloon ride offering
already is handling 20% of Unitechs overall construction activity a superb spectacle of the NCR skyline was also introduced and
and the target is to raise it to 30%. This adds to capacity, provides the latest launch is a new drive-in fast food restaurant with a
competition for existing vendors and demonstrates best practices seating capacity of more than 350 persons spread over an area
to be followed by all vendors. of 19,000 sq.ft.
The Company is involved in the business of design, manufacturing The total income of the SPV increased from 103 crores in
and erection of transmission towers primarily for the power sector, FY2012 to 206 crores in FY2013. The SPV is rapidly expanding
through its subsidiary Unitech Power Transmission Limited (UPTL). adding more attractions every quarter to create a world class
This business is supported by a state-of-the-art manufacturing entertainment destination. Entertainment city promises to be one
facility at Nagpur. of the best in class destinations and will be an iconic brand for the
group in the years to come.
UPTL offers a wide range of services including site survey, soil
investigation, access roads, foundations, tower design, tower Adventure Island and Metro Walk (Rohini Amusement Park): This
testing, mobilization of manpower and equipment, testing and amusement park cum shopping destination is spread over an area
commissioning. of 62 acres in North-West Delhi. This project is already in its 7th
With greater clarity and focused business development UPTL year of operations and is a unique entertainment destination for
continued to grow. Segment revenues grew by 33.3% from kids of all age groups.
200.84 crore in FY2012 to 267.9 crore in FY2013. And, prots In FY2013, some new attractions have been added to the
before interest and un-allocable overheads increased from 16.16 amusement park such as The king of Quick guns which is a 20
crore in FY2012 to 23.65 crore in FY2013. minute live show inspired from the western movies of Hollywood,
Development: This comprises development of SEZs and IT MAD which involves stunning dance, electrifying acrobats and
parks, hospitality projects, amusement parks, logistics parks and amazing magic tricks by renowned artists especially designed for
industrial parks. The aim is to develop these projects for future children and Childrens Summer Carnival which transports them
monetisation. to their own animated world with loads of animated characters in
their bright costumes.
The Company has proven development experience in the hospitality
space. The hotel project called Country Inn on NH8 in Gurgaon got The total income of the SPV increased from 39 crore in FY2012
completed and operations commenced in 2011-12. Another hotel to 67 crore in FY 2013.
Courtyard in Noida is under construction. The strategy for the Infrastructure Services: This includes property and facility
hospitality segment is to develop hotels to be managed by global management services and township management services.
operators for eventual monetization through sale to investors.
Unitech provides property management services for IT/ITeS
Revenues from operations of Country Inn have primarily resulted SEZs, commercial property, residential property, townships, retail
in revenues from the hospitality business increasing by 65% from developments and golf courses. These services are provided
24.77 crore in F2012 to 40.78 crore in F2013. through its property management subsidiary Unitech Property
Unitech has also developed two amusement parks, which are Management Private Limited (UPMPL).
operational today: Segment revenues from property management increased by 8.7%
Entertainment City (NOIDA): This amusement park cum retail from 117.61 crore in FY2012 to 127.84 crore in FY2013.
area spread over an area of 147.48 acres completed its 6th year The focus of this business is to primarily grow with the Unitech
of operations in April, 2013. It is strategically located in the heart portfolio.
of NOIDA and is well connected with Delhi through the NOIDA
toll bridge and Metro rail. With a world class mall called The During FY2013, the Company launched its food court business
Great India Place measuring a million square feet and exciting through Unitech Hospitality Limited. It operates 4 food courts
rides in Worlds of Wonder for kids and family, this project is 1 in Gurgaon (Haryana), 2 in Noida and 1 in Kolkata. These food
now looking at expanding fast enough to maintain its dominant courts are part of the amenity areas in the IT Parks/SEZs being
position in NCR. It is for this reason that the next phase of developed by the Company. The primary objective is to provide value
mall called Gardens Galleria is being developed as a quality added services to the tenants of these ofce complexes to increase
shopping destination with more than half a million sq.ft. of retail their attractiveness. The food courts have the brand name Klub
space. This would be ready for t outs by the end of this year. Ibiza. They cater to more than ten thousand people and in their rst
Further, the proposed water park named, Worlds of Wonder partial year of operations clocked revenue of 7.35 crore.
Water Park within the amusement park area is progressing
fast and would be thrown open to public shortly. This water park
would be one of its kind in the NCR and promises to surprise all HUMAN RESOURCES
its visitors given the scale and feel of the rides.
Human resource continues to be the backbone of Unitech. The
During the year, a new boating ride has been introduced by Company lays strong emphasis on attracting and retaining the best

17 18
talent. Personal developmental initiatives including training, both Medical aid for construction workers and their families: Medical
technical and managerial, are regularly conducted to enhance human Inspection Rooms and Creches are being set up at various
potential. Employee strength grew signicantly during the year and as construction sites to provide medical aid to the construction
of 31st March, 2013 Unitech had 1742 employees on its rolls. workers and their families. Also, in association with local Hospitals
and NGOs, specialized medical camps are being organized at the
construction sites for the welfare of construction workers and their
CORPORATE SOCIAL RESPONSIBILITY families.
Over the years, Unitech has been conducting various activities Customary Celebrations: Through Saankalp, major festivals
in order to contribute to society at large. The Company conducts including Childrens Day, Republic Day and Independence Day
its business in a way that creates social, environmental and are commemorated at our sites with the children of construction
economic benets to the communities. Companys CSR activities workers. Our volunteers had organized various activities for these
are primarily in the areas of education, community welfare, rain days to make the celebrations enjoyable for the little ones.
water harvesting, energy-efcient buildings and social forestry.
Collection Drives: Day Care centres have been established at many
A brief highlight of some of the activities includes:
of the Companys construction sites through tie-ups with many
Labour Welfare and Training NGOs. Successful collection drives were organized recurrently
within the Unitech premises to support the NGOs. Team Saankalp
The Company provides a safe and hygienic environment for organized a Collection Drive specially to make Holi celebrations
construction workers and their families. Workers at our various more colorful for children at our various construction sites.
construction sites are provided with training on health and safety
issues. Unskilled and semi-skilled people residing around project Joy of Giving week: Saankalp organized the Joy of Giving week
sites are provided training, following which they are appointed as starting from October 1 to 8, 2012. The week long activities
gardeners, security guards, electricians, etc. thus helping them to comprised of a collection drive, blood donation camp, tambola
earn a livelihood and improve their quality of life. event and eye pledge camp.
Green Buildings Tree Plantation Drive: In an effort to give back to environment,

team Saankalp organized a Tree Plantation Drive.
All the commercial developments in NCR are registered under
LEED Core and Shell rating. Energy conservation measures are Recycling: Unitech in collaboration with Greenobin Recycling
incorporated in building designs, while construction waste is Pvt. Ltd. has initiated a paper recycling drive to help reduce our
either reused or handed over to appropriate agencies. Due to roof ecological footprint. Recycling bins are placed at Unitech ofces
insulation, wall insulation and energy efcient glass, our buildings and sites, and get emptied on a regular basis to be transported to
maintain thermal conductivity and have less heat penetration. the recycling site.
Almost all our residential projects are in the midst of greenery and
incorporate various environment friendly features such as rain water
harvesting, sewerage treatment plants and solar power panels. INTERNAL CONTROLS AND THEIR ADEQUACY
Unitech has been awarded the LEED Gold certication for Towers 3 & Unitech has a proper and adequate system of internal controls
4, Infospace, Sector 135, Noida at Green Building Congress 2012. to ensure that all assets are safeguarded and protected against
loss from unauthorized use or disposition, and to ensure that all
Unitech and Delhi Public School transactions are authorized, recorded and reported correctly and
Unitech and Delhi Public School Society have come together to offer adequately.
a school till 12th grade in Uniworld City, Nallambakkam, Chennai, The Companys internal controls are supplemented by an
with the academic session commencing from June, 2013. For the extensive programme of internal audits, review by management
school, the infrastructure has been provided by Unitech and the and documented policies, guidelines and procedures. The internal
management is being done by Delhi Public School Society. control is designed to ensure that nancial and other records are
Global CSR Excellence & Leadership Award, conferred by World CSR reliable for preparing nancial information and for maintaining
Congress accountability of assets. All nancial and audit control systems are
also reviewed by the Audit Committee of the Board of Directors of
Unitech has been bestowed with the Global CSR Excellence & the Company.
Leadership Award for Corporate Social Responsibility at the World
CSR Congress and Awards 2013.
RISKS AND CONCERNS
Saankalp, Unitechs CSR group, is actively organizing various
activities for societal and environmental development, through The Company is exposed to different types of risks such as
which it aims to upgrade the quality of life in society and promote credit risk, market risk (including liquidity risk, interest rate
self-sustaining processes for growth. Some of the activities risk and foreign exchange risk), operational risk and legal risk.
undertaken by Saankalp during FY2013 includes: The Company monitors credit and market risks, as well as

portfolio and operational risk through the oversight of senior CAUTIONARY STATEMENT
management personnel in each of its business segments.
Statements in this Management Discussion and Analysis
Legal risk is subject to the review of the Companys legal
describing the Companys objectives, projections, estimates
department and external advisers. The Company is exposed and expectations may be forward looking statements within
to specific risks in connection with the management of the meaning of applicable laws and regulations. Actual results
investments and the environment within which it operates. might differ substantially or materially from those expressed or
The Company aims to understand, measure and monitor implied. Important developments that could affect the Companys
the various risks to which it is exposed and to ensure that it operations include a downtrend in the real estate sector,
adheres, as far as reasonably and practically possible, to the signicant changes in political and economic environment in
policies and procedures established by it to mitigate these India or key nancial markets abroad, tax laws, litigation, labour
risks. relations, exchange rate uctuations, interest and other costs.

19 20
Corporate
Governance
Report
The biggest adventure you

can ever take is to live the
life of your dreams.

CORPORATE GOVERNANCE REPORT 2012-13
COMPANYS PHILOSOPHY ON CODE OF GOVERNANCE maintain a work environment that encourages not only the staff
but the stakeholders too to raise their faith in the management of
Unitech is committed to conduct its business based on the highest
the Company.
standards of corporate governance. The Company promotes
a culture that is based on the principles of good corporate
governance integrity, equity, fairness, individual accountability BOARD OF DIRECTORS
and commitment to values.
Composition of the Board
The Company emphasizes the need for highest level of
transparency and accountability in all its transactions in order to The Board of Directors of the Company has an optimum combination
protect the interests of all its stakeholders. The Board considers of Executive and Non-Executive Directors. It comprises of Nine
itself as a trustee of its shareholders and acknowledges its Directors Three Executive Directors and Six Non-Executive
responsibilities towards them for creation and safeguarding their Directors, and is chaired by an Executive Chairman. Out of the Six
wealth on sustainable basis. Non-Executive Directors ve are Independent Directors.
The Management promotes honest and ethical conduct of the All Independent Directors are persons of eminence and bring a
wide range of expertise and experience to the Board.
business along with complying with applicable laws, rules and
regulations. It abides by the policies and procedures both legal The details relating to the composition of the Board, the positions
as well as social - so as to ensure its commitment to compliance held by them and their attendance during the year 2012-13 are
and create and maintain a culture of high ethical standards and given in Table 1.
TABLE 1 COMPOSITION OF THE BOARD AND ATTENDANCE RECORD OF DIRECTORS
Name of Directors Number of Number of Chairmanship/ No. of Board Attendance at

Directorships in Membership of Committees Meetings last AGM$
other Companies# of other companies* attended (Y/N)
Chairmanship Member
EXECUTIVE CHAIRMAN
Mr. Ramesh Chandra (Promoter) 2 0 0 6 Y
MANAGING DIRECTORS
Mr. Ajay Chandra (Promoter) 8 0 0 5 Y
Mr. Sanjay Chandra (Promoter)
0 0 0 6 Y
NON-EXECUTIVE DIRECTOR
Ms. Minoti Bahri (Promoter) 4 0 0 6 Y
INDEPENDENT NON-EXECUTIVE DIRECTORS

Mr. G.R. Ambwani 0 0 0 6 Y
Dr. P.K. Mohanty 8 0 0 4 N
Mr. Anil Harish 13 4 9 2 Y
Mr. Sanjay Bahadur 3 0 0 3 Y
Mr. Ravinder Singhania 3 0 1 5 Y
# Only Indian Public Limited Companies are included.
* Only Audit and Investors Grievance Committees of Indian Public Limited Companies, whether listed or not, have been considered
pursuant to Clause 49.
Mr. Ajay Chandra and Mr. Sanjay Chandra are the sons of Mr. Ramesh Chandra, Chairman of the Company.
$ The last AGM was held on 27.09.2012

21 22
Board Meetings Chairman, Mr. Ajay Chandra Managing Director and Mr. Sanjay
Chandra Managing Director on revised remuneration for a period
During the nancial year ended 31 March, 2013, six (6) meetings
st
of ve years w.e.f from 1st January 2014.
of the Board of Directors were held i.e. on 2nd April 2012, 15th May
2012, 14th August 2012, 27th September 2012, 10th November The brief prole of the above Directors seeking re-appointment is
2012 and 13th February, 2013. given below:
The intervening period between the two Board Meetings was Mr. Ravinder Singhania, 44, is a law graduate and has been
within the maximum time gap prescribed under the Companies practicing law, in both the domestic and international arena,
Act, 1956 and Clause 49 of the Listing Agreement. as an Advocate in Supreme Court of India and as a Solicitor
at the Supreme Court of England and Wales. He is currently
Information supplied to the Board
senior partner of Singhania and Partners LLP, Solicitors and
During the year, all the relevant information required to be placed Advocates.
before the Board of Directors as per Annexure IA to Clause 49 Mr. Singhania is an eminent professional in the matters of
of the Listing Agreement were considered and taken on record/ Employment Law, Banking, Project Finance, Corporate &
approved by the Board. Further, the Board periodically reviews Commercial, Contracts, Mergers and Acquisitions, International
the Compliances of various laws and regulations applicable to the Trade, Investments, Foreign Collaboration, Transfer of
Company. Technology, Employment, Taxation Direct, Import and Export.
Criteria of making payments to Non-Executive Directors He has been advising / has advised Ministries, large PSUs,
Banks and MNCs on various legal issues. He is also the legal
Non-Executive Directors of the Company are entitled to the sitting adviser to World Bank on issues relating to Foreign Direct
fee for the meetings of the Board of Directors attended by them. Investment since 2004.
Further, the Independent Directors of the Company are also He is Director of Asset Care and Reconstruction Enterprise Ltd.,
entitled to payment of an annual Commission of a sum not ABS Professional Services (India) Private Ltd., ABS Industrial
exceeding 1% p.a. of the net prots of the Company subject to Verication (India) Private Ltd., ABS Quality Evaluations Private
maximum of 100 lacs p.a. to be divided equally amongst the said Ltd., Capital IQ Information Systems (India) Private Ltd., McGraw
Directors. The members had accorded their approval for the said Hill Educational Services India Private Ltd., NI Systems (India)
payment of commission by way of Special Resolution passed at Private Ltd., Satcon India Private Ltd., Stahl Crane Systems (India)
the 37th Annual General Meeting for a period of ve years which Private Ltd. and is a Alternate Director of CRISIL Ltd. and CRISIL
expires on 31st March 2013 and therefore the Board recommends Risk and Infrastructure Solution Ltd. He is also a member of Audit
to the members the approval of the said commission by way of Committee and Remuneration Committee of Unitech Ltd. and
Special Resolution for another period of ve years commencing also a member of Audit Committee, Risk Management Committee
from nancial year 2013-14. and Remuneration Committee of Asset Care and Reconstruction
Code of Conduct for the Directors and senior management Enterprise Ltd.
personnel Dr. P. K. Mohanty, 78, is an engineering graduate from Patna
The Company has laid down a Code of Conduct (Code) for University and is a Doctorate (Ph.D) in Civil Engineering from
all the Board members and senior management personnel Utah State University, USA. With exceptional entrepreneurial
of the Company. The Code is also posted on the website of the skills he has been an engineer with innovativeness and out-of-
Company (www.unitechgroup.com). All Board members and senior the box thinking this also made him a well known name in the
management personnel have afrmed their compliance with the steel industry. He was instrumental in setting up Orissa Sponge
Code for the nancial year ended 31st March, 2013. A declaration Iron Ltd., the rst commercial Sponge Iron Plant in the country
to this effect signed by Mr. Ajay Chandra & Mr. Sanjay Chandra, in Joint Venture with Government of Orissa, and Iron & Steel
Managing Directors of the Company, forms part of this Report as project of Neelanchal Ispat Nigam Ltd. His role was prominent
Annexure A. in development of production technology as well as rapid and
scientic utilization of high strength reinforcing steel in India
Appointment / Re-appointment of Directors (TORSTEEL).
In terms of the provisions of the Companies Act, 1956 and the He is Director of TRFI Investment Pvt. Ltd., MSD Corporate Advisors
Articles of Association of the Company, Mr. Ravinder Singhania Ltd., Orissa Sponge Iron & Steel Ltd., Torsteel Ltd., Torr Comm
and Dr. P.K. Mohanty retire by rotation at the ensuing Annual Ltd., Torsteel Services Pvt. Ltd., OSIL TRFI Community Services,
General Meeting, and being eligible, offer themselves for re- Keonjhar Infrastructure Development Co. India Ltd., Tor Anumana
appointment. Technologies Pvt. Ltd., Bamra Iron & Steel Co. (India) Ltd., Indian
Titanium Products Ltd. and Contisteel Ltd.
Further at the forthcoming Annual General Meeting of the
Company, the approval of Shareholders pursuant to Section 269 Mr. Ramesh Chandra, 74, is the Executive Chairman of the
of the Companies Act, 1956 read with Schedule XIII thereof is Company. He is a graduate in Civil Engineering from the Indian
sought for the reappointment of Mr. Ramesh Chandra Executive Institute of Technology, Kharagpur with Masters Degree in

Structural Engineering from the University of Southampton, U.K. the Company in 2006. He has been instrumental in creating and
He co-founded the Company in 1971 and with his vision, hard work launching several projects that have set a new benchmark of
and determination, transformed it into one of Indias leading real quality, size & performance in the Indian real estate industry.
estate and infrastructure companies. The Company immensely Under his leadership, Unitech was successful in raising capital in
benets from his rich experience and understanding of various a very challenging environment.
facets of the real estate and infrastructure business.
He is a Director of Unitech Sai Pvt. Ltd., Shreeaumji Developers SEZ
He is a Director of Millennium Plaza Ltd., S.B. Developers Ltd., Pvt. Ltd., Shreeaumji Real Estate SEZ Pvt. Ltd., Unitech Advisors
Sarvmangalam Builders & Developers Pvt. Ltd., Unitech Sai Pvt. (India) Pvt. Ltd., Uni-Chand Builders Pvt. Ltd. and Nectrus Limited.
Ltd., Shreeaumji Developers SEZ Pvt. Ltd., Shreeaumji Real Estate
SEZ Pvt. Ltd. and Unitech Advisors (India) Pvt. Ltd. He is neither
a member nor chairman of any committee, referred to in Clause COMMITTEES OF THE BOARD
49(I)(C) of the Listing Agreement, in any company.
During the year under review, the Company had ve Board level
Mr. Ajay Chandra, 45, is a Bachelor in Civil Engineering Committees viz. Audit Committee, Remuneration Committee,
from Cornell University, U.S.A. and a Master in Business Shareholders/ Investors Grievance Committee, Committee of
Administration from University of North Carolina, Chapel Hill, Directors and Telecom Business Restructuring Committee.
U.S.A. He has worked as an Equity & Finance Analyst with
Jardine Fleming, India and has also been associated as the Details of the role and composition of each of the Board
principal promoter of an apparel design and manufacturing Committees alongwith the number of meetings held during the
facility. He joined Unitech Limited in 2003 as Head of Business nancial year and attendance of Directors/Members thereat are
Development and was elevated to the position of the Managing provided hereinafter.
Director of the Company in 2005. He has been instrumental
Audit Committee
in Unitech expanding its geographical presence to all major
centres of economic activity across India. The Company has a duly constituted Audit Committee, the scope
of which is quite comprehensive and is in conformity with the
He is a Director of Unitech Amusement Parks Ltd., Bengal
Clause 49 of the Listing Agreement and Section 292A of the
Unitech Universal Infrastructure Pvt. Ltd., Kolkata International
Convention Centre Ltd., Bengal Unitech Universal Townscape Companies Act, 1956. In brief, the Audit Committee is entrusted
Ltd., Arihant Unitech Realty Projects Ltd., Premira Fashions with the overall supervision of the nancial reporting and
Limited, International Recreation Parks (P) Ltd., Unitech Valdel review of the quarterly and annual nancial statements before
Valmark Pvt. Ltd., Unival Willows Estate Pvt. Ltd., Unitech submitting to the Board for their approval thereon; recommending
Advisors (India) Pvt. Ltd., Shivalik Ventures Pvt. Ltd., Sungrace the appointment and removal of statutory auditors to the Board
Products (India) Pvt. Ltd., North Town Estates Pvt. Ltd., Unitech and xation of their audit fees and fees for any other services;
Corporate Park Plc., Colossal Properties Pvt. Ltd., Girnar reviewing the performance of statutory auditors and the internal
Asthetics Exports Pvt. Ltd., Unitech Ofce Fund Trustee Pte. auditors; discussions with the Statutory Auditors on the scope of
Ltd., Fincap Potfolio Ltd., Ivory Commodities Ltd. He is also a audit and areas of concern, if any; discussions with the internal
member of Audit Committee of International Recreation Parks auditors on the adequacy and effectiveness of their function and
(P) Ltd and also a member of Audit Committee and Shareholders the internal control systems of the Company and any signicant
& Investors Grievance Committee of Unitech Ltd. ndings and follow ups thereon; and reviewing any other matter
which may be specied as part of the role of Audit Committee.
Mr. Sanjay Chandra, 40, is a business management graduate The minutes of the meetings of the Audit Committee are placed
from the University of Massachusetts and Boston University. before the Board.
He founded Ikon Clothing Inc. in New York, U.S.A., in the year
1996 where he was Founder President upto 2001. He joined The composition of the Audit Committee as on 31st March, 2013
Unitech Limited as Head of Sales & Marketing in 2002 and was and the attendance of its members at its meetings held during
subsequently elevated to the position of Managing Director of 2012-13 are given in Table 2.
TABLE 2 COMPOSITION OF THE AUDIT COMMITTEE AND ATTENDANCE OF ITS MEMBERS
Name of the Members Category Number of Meetings Attended

Mr. G. R. Ambwani (Chairman of the Committee) 4
Mr. Anil Harish 1
Independent Non-Executive Directors
Mr. Sanjay Bahadur 2
Mr. Ravinder Singhania 3
Mr. Ajay Chandra Managing Director 3

23 24
During the year under review, the Audit Committee met four (4) Remuneration Committee
times i.e. on 15th May, 2012, 14th August, 2012, 10th November,
The Remuneration Committee has been constituted by the Board
2012 and 13th February, 2013. The intervening period between to determine and review from time to time the remuneration of the
the Audit Committee meetings was within the maximum time gap Directors of the Company and make recommendations of the same
prescribed under Clause 49 of Listing Agreement. to the Board. Such recommendations are made considering the
All the members of the Committee are nancially literate and overall performance and annual nancial results of the Company.
Mr. Ajay Chandra is having nancial management expertise. He The composition of the Remuneration Committee as on
is Master in Business Administration (MBA-Finance) from the 31st March, 2013 is given in Table 3.
University of North Carolina, USA and had been associated with
During the year 2012-13, one meeting of the Committee was held on
an International Investment & Finance Company as an Equity &
14th August, 2012. Mr. G.R. Ambwani, an Independent Director chaired
Finance Analyst.
the meeting of the Remuneration Committee held during the year.
Mr. Manoj Popli, the Chief Financial Ofcer, representatives of The Company Secretary acts as the Secretary to the Committee.
the Statutory Auditors and the Internal Auditors, being permanent
invitees to the Meetings of the Audit Committee, attended the Remuneration paid/ payable to the Directors and the shareholding
meetings of the Committee convened & held during the year. of Non-Executive Directors in the Company
The Chairman of Audit Committee, Mr. G. R. Ambwani, was present The details of remuneration paid/payable to the Executive
Directors and Non-Executive Directors during the year 2012-13
at the Annual General Meeting held on 27th September, 2012.
alongwith the shareholding details of Non-Executive Directors are
The Company Secretary acts as the Secretary to the Committee. given in Tables 4 & 5.
TABLE 3 COMPOSITION OF THE REMUNERATION COMMITTEE

Mr. G. R. Ambwani 1
Mr. Sanjay Bahadur Independent Non-Executive Directors 0
Mr. Ravinder Singhania 1
Mr. Ramesh Chandra Executive Director/Chairman 1
TABLE 4 REMUNERATION PAID/ PAYABLE TO EXECUTIVE DIRECTORS (FIGURES IN )
Name of the Executive Directors Salary Provident Fund Medical LTA Total
Mr. Ramesh Chandra 1,78,20,000 12,96,000 90,000 90,000 1,92,96,000
Mr. Sanjay Chandra 1,58,40,000 11,52,000 80,000 80,000 1,71,52,000
Mr. Ajay Chandra 1,58,40,000 11,52,000 80,000 80,000 1,71,52,000
TABLE 5 COMMISSION & SITTING FEE PAID TO NON-EXECUTIVE DIRECTORS AND THEIR SHAREHOLDING IN THE COMPANY
Name of the Non-Executive Directors Commission Sitting Fee Total Shareholding in the Company
as on 31st March, 2013
( ) ( ) ( ) (No. of Shares)
Ms. Minoti Bahri Nil 1,20,000 1,20,000 8290900
Mr. G. R. Ambwani 20,00,000 1,20,000 21,20,000 2000
Dr. P. K. Mohanty 20,00,000 80,000 20,80,000 Nil
Mr. Anil Harish 20,00,000 40,000 20,40,000 96460
Mr. Sanjay Bahadur 20,00,000 60,000 20,60,000 20000
Mr. Ravinder Singhania 20,00,000 1,00,000 21,00,000 Nil

Further, there were no other pecuniary relationships or Both the meetings were chaired by Ms. Minoti Bahri, Non-Executive
transactions of the Non-Executive Directors vis--vis the Director.
Company. The Company has not provided for any performance
The Shareholders queries/complaints received and resolved
linked incentive or Stock Option or Convertible Instruments to
during the year under review are as follows: Opening Bal.: Nil;
the Directors of the Company.
Received & Resolved during the nancial year: 75; Closing Bal.:
Remuneration Policy Nil.
The remuneration of Executive/Non-Executive Directors is based Compliance Ofcer
on the qualication of appointee(s), their experience, their
Mr. Deepak Jain, Vice President & Company Secretary is the
past performance, track record, their potentials, responsibility
Compliance Ofcer of the Company and also acts as the Secretary
shouldered, external competitive environment and performance
to the Committee.
of the Company. The Board/Committee regularly keeps track of
the market trends in terms of compensation levels and practices Committee Of Directors
in relevant industries. A Committee of Directors has been constituted by the Board
Service Contract and Severance Fees to decide matters pertaining to day to day business operations
including opening of current accounts with various banks and
The Directors of the Company are appointed by the Shareholders
changing the signatories as and when required; borrowing funds; to
upon recommendation of the Board of Directors within the
give necessary authorizations for various business requirements;
framework of the Companies Act, 1956 as well as the Articles of
and to do all incidental acts, deeds and things.
Association of the Company. The resolutions passed by these two
governing bodies together with the service rules of the Company The composition of the Committee of Directors as on 31st March,
cover the terms and conditions and remuneration of such 2013 and the attendance of its members at its meetings held
appointment. There is no service contract separately entered during 2012-13 are given in Table 7.
into by the Company with the Directors. Further, the resolutions
During the year under review, the Committee met fourteen (14)
appointing these Directors do not prescribe for the payment of any
times i.e. on 7th May, 2012; 7th June, 2012; 27th June, 2012; 28th
separate Severance Fees to them.
July, 2012; 27th August, 2012; 6th September, 2012; 19th October,
Shareholders/Investors Grievance Committee 2012; 8th November, 2012; 13th December, 2012; 20th December,
2012; 27th December, 2012; 15th January, 2013; 14th February,
The Shareholders/Investors Grievance Committee has been
2013 and 16th March, 2013.
constituted to specically look into the redressal of Shareholders
and Investors complaints and other Shareholders related issues. The Company Secretary acts as the Secretary to the Committee.
The composition of the Shareholders/Investors Grievance Telecom Business Restructuring Committee
Committee as on 31st March, 2013 and the attendance of its
The Board of Directors in its meeting held on 27th September,
members at its meetings held during 2012-13 are given in
2012 formed a committee of the Directors of the Company under
Table 6.
a nomenclature Telecom Business Restructuring Committee
During the year under review, the Shareholders/Investors for the purpose of nalizing the terms and conditions of the
Grievance Committee met twice (2) i.e. on 14th August, 2012 and settlement/understanding between the Company and Telenor
10th November, 2012. Asia Pte. Ltd. in respect to the telecom matters.
TABLE 6 COMPOSITION OF THE SHAREHOLDERS/INVESTORS GRIEVANCE COMMITTEE AND ATTENDANCE OF ITS MEMBERS

Ms. Minoti Bahri Non-Executive Director 2
TABLE 7 COMPOSITION OF THE COMMITTEE OF DIRECTORS AND ATTENDANCE OF ITS MEMBERS

Mr. Ramesh Chandra (Chairman of the Committee) Executive Director/Chairman 14
Mr. Sanjay Chandra 14
Managing Directors
Mr. Ajay Chandra 13
Mr. G.R. Ambwani Director 1

25 26
During the year under review, the Telecom Business Restructuring of a properly dened framework, a report on Risk Assessment and
Committee met two (2) times i.e. on 8th October, 2012 and 11th Minimization Procedure as prepared by functional heads of the
October, 2012. Company is being reviewed periodically by the Board of Directors.
The composition of the Telecom Business Restructuring Committee CEO/ CFO Certication
as on 31st March, 2013 and the attendance of its members at its
In terms of Clause 49(V) of the Listing Agreement, the Certicate
meetings held during 2012-13 are given in Table 8.
duly signed by Mr. Ajay Chandra, Mr. Sanjay Chandra, Managing
The Company Secretary acts as the Secretary to the Committee. Directors and Mr. Manoj Popli, Chief Financial Ofcer of the
Company is placed before the Board of Directors along with the
nancial statements. The certicate for the year ended 31st March,
SUBSIDIARY COMPANIES 2013 forms part of this report as Annexure B.
During the year under review, the Company does not have any Compliances by the Company
material non-listed Indian subsidiary Company as dened under
Clause 49 of the Listing Agreement. The Board of Directors periodically reviews the compliances of
various laws applicable to the Company, and the Company initiates
requisite action for strengthening of its statutory compliance
MANAGEMENT AND DISCLOSURES procedures, as may be suggested by the Board from time to time.
Management Discussion and Analysis Report The Company has complied with various applicable rules and
regulations prescribed by the Stock Exchanges, Securities and
The Report on Management Discussion and Analysis is given
Exchange Board of India (SEBI) and other statutory authorities
separately and forms part of the Directors Report.
on all matters relating to capital markets, and no penalties or
Disclosures made by the senior managerial personnel to the Board strictures have been imposed on the Company by any of them in
this regard during the last three years.
During the year, no material transaction has been entered into by
the Company with the senior management personnel where they Means of Communication
had or were deemed to have had personal interest that may have
a. Financial Results: Quarterly/Annual Results are published in
a potential conict with the interest of the Company.
the leading newspapers viz. The Financial Express & Mint
Related party transactions (English) and Jansatta & Rashtriya Sahara (Hindi) and are
In Compliance with the clause 49 (IV) (A) of the Listing Agreement, also posted on the Companys website www.unitechgroup.com.
the details of the transactions with related parties or others, are b. Website: The Companys website contains a separate
placed before the Audit Committee from time to time. Materially dedicated section Investor Relations. It contains
signicant related-party transactions during the year under review comprehensive database of information of interest to the
have been given in Note 35 to the Annual Accounts for the nancial investors including the nancial results and Annual Report
year 2012-13. of the Company, shareholding pattern, Insider trading policy,
During the year under review, all the related party transactions, Corporate Governance Compliances and Unpaid / Unclaimed
if entered into, by the Company with its subsidiaries, promoters, amount. The basic information about the Company as called
directors or their relatives etc. were negotiated at arms length for in terms of Clause 54 of the Listing Agreement with the
basis and were intended to further the interests of the Company. Stock Exchanges is provided on Companys website and the
same is updated regularly.
Disclosures of Accounting Treatment
c. Annual Report: Annual Report containing inter alia, Audited
In the preparation of the nancial statements, the Company has Annual Accounts, Consolidated Financial Statements,
followed the Accounting Standards issued by the Institute of Directors Report, Auditors Report and other important
Chartered Accountants of India (ICAI) to the extent applicable. information is circulated to members and others entitled
thereto. The Company has welcomed the Green Initiative and
Risk Management
accordingly shall be emailing to the Members at their available
In order to ensure that Management controls risk through means e-mail IDs, the soft copies of the Annual Report for the year ended
TABLE 8 COMPOSITION OF THE TELECOM BUSINESS RESTRUCTURING COMMITTEE AND ATTENDANCE OF ITS MEMBERS

Mr. G.R. Ambwani (Chairman of the Committee) Independent Director 2
Mr. Ravinder Singhania Independent Director 1

31st March, 2013. However the members whose email IDs For the rst quarter ending 30.06.2013 : Second week of
are not available, the Company shall be sending the physical August, 2013
copy of the abridged version of the Annual Report. For the second quarter and half year : Second week of
d. Designated email-id: The Company has a designated email-id, ending 30.09.2013 November, 2013
[email protected], exclusively for investor servicing. For the third quarter and nine months : Second week of
ending 31.12.2013 February, 2014
For the fourth quarter & year ending : Last week of
SHAREHOLDERS INFORMATION 31.03.2014 May, 2014
General Body Meetings Book Closure Period:
The details of the Annual General Meetings held during the last The register of Members and Share Transfer Books of the
three years immediately before 31st March, 2013 are given in Company will remain closed from Monday, 16th September, 2013
Table 9: to Thursday, 26th September, 2013 (both days inclusive) for the
purpose of Annual General Meeting of the Company.
Special Resolutions passed through Postal Ballot last year
Dividend
During the year under review, the Company has not passed any
Resolution through Postal Ballot. No Dividend is recommended by the Board of Directors for the
nancial year 2012-13.
Whether any Special Resolution proposed to be passed through
Postal Ballot Stock Exchange listings
No The Companys equity shares are listed at the following stock
exchanges:
Additional Shareholders Information
i) BSE Ltd., Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -
Annual General Meeting: 400001
The 42nd Annual General Meeting of the Company is scheduled to ii) National Stock Exchange of India Ltd. (NSE), Exchange
be held on Thursday, 26th September, 2013 at 11.00 A.M. at Tivoli Plaza, Plot No. C-1, G. Block, Bandra Kurla Complex, Bandra
Daffodils Hotel, Chattarpur Hills, Mehrauli, New Delhi - 110030 (East), Mumbai 400 051
Financial year of the Company Payment of Listing Fees
The nancial year of the Company is from 1st April to 31st March Annual Listing Fees for the nancial year 2013-14 has been paid
every year. to the above Stock Exchanges.
Financial Calendar 2013-14 (tentative and subject to change) Stock Code:
For the nancial year 2013-14, the nancial results would be BSE: 507878
announced as per the following schedule:
NSE: UNITECH
TABLE 9 DETAILS OF ANNUAL GENERAL MEETINGS
Year Date Venue Time Special Resolution

2009-10 16 September,
th
Air Force 11.00 A.M. Alteration of the Articles of Association of the Company
2010 Auditorium, Re-appointment of Mr. Ramesh Chandra as Executive Chairman
Subroto Park, Payment of Commission to Executive Chairman
New Delhi-110010 Raising of additional long-term funds through further issuance
of securities in the Company
2010-11 29th September, Tivoli Garden 11.00 A.M. None
2011 Resorts Hotel,
Chattarpur Hills,
Mehrauli, New Delhi
110030
2011-12 27th September, Tivoli Daffodils 11.00 A.M. None
2012 Hotel, Chattarpur
Hills, Mehrauli, New
Delhi 110030

27 28
Stock Market Data/Liquidity Registrar and Share Transfer Agent (RTA)

The Companys shares are liquid and actively traded shares on Alankit Assignments Ltd.,
BSE and NSE. The monthly high and low prices as well as the Alankit House, 2E/21, Jhandewalan Extension,
volume of shares traded at BSE and NSE, for the year 2012-13 is New Delhi - 110055
Tel.: +91-11-42541234; Fax: +91-11-42541201
given in Table 10.
Contact Person: Mr. Harish Aggarwal
The Chart A plots the movement of the Companys share prices on E-mail: [email protected]
BSE versus BSE Sensex for the year 2012-13. Share Transfer System
The Chart B plots the movement of the Companys share prices on Alankit Assignments Ltd. (RTA) used to process the share
NSE versus S & P CNX Nifty for the year 2012-13. transfer/ transmission requests on a fortnightly basis (usually
TABLE 10 MONTHLY HIGH & LOW QUOTATION OF THE COMPANYS EQUITY SHARES AND VOLUME TRADED
Month BSE NSE

High Low Volume High Low Volume
( ) ( ) (Number) ( ) ( ) (Number)
April 2012 30.40 25.25 32149626 30.40 25.25 233061180
May 2012 27.10 19.00 57301239 27.10 19.20 422208608
June 2012 23.75 20.35 40900821 23.80 20.15 314709521
July 2012 25.65 20.40 53748329 25.65 20.35 382654846
August 2012 23.50 18.25 21799688 22.00 18.10 191109919
September 2012 25.55 18.20 36006255 25.50 18.15 293720532
October 2012 28.45 22.40 86398372 29.90 22.35 606458323
November 2012 32.90 22.80 102625943 32.85 22.85 740612965
December 2012 36.65 31.35 117290858 36.65 31.15 840115395
January 2013 40.90 32.45 164317366 40.90 33.15 1122255056
February 2013 37.80 26.35 142933024 37.80 26.30 912598984
March 2013 30.35 21.55 84194071 30.35 21.55 738838840
CHART A UNITECH AND BSE SENSEX CHART B UNITECH AND S&P NIFTY
140 BSE 140 NSE

130 Unitech 130 Unitech
120 120
110 110
100 100
90 90
80 80
70 70
60 60
Apr 2012
May 2012
Jun 2012
Jul 2012
Aug 2012
Sep 2012
Oct 2012
Nov 2012
Dec 2012
Jan 2013
Feb 2013
Mar 2013
Apr 2012
May 2012
Jun 2012
Jul 2012
Aug 2012
Sep 2012
Oct 2012
Nov 2012
Dec 2012
Jan 2013
Feb 2013
Mar 2013
Base 100= April 2012 Base 100 = April 2012

on 1st and 16th of every month) till September, 2012. Dematerialization of Shares
However, from October, 2012 the same is being processed on
The equity shares of the Company were made available for
weekly basis (usually on every Friday) and the said transfer/
transmission of shares in physical form are approved by the dematerialization under the depository system operated by the
Company Secretary, as per authority delegated to him by the Central Depository Services (India) Ltd. (CDSL), with effect from
Board of Directors to, inter alia, approve the share transfers 1st April, 2000, and National Securities Depository Ltd. (NSDL)
and transmissions. Further in order to expedite the Share with effect from 3rd April, 2000. With effect from 28th August,
Transfer process, an ofcer of the Company is also authorized 2000, the shares of the Company are under the compulsory
to approve transfer of shares upto a limit of 15000 shares per demat settlement mode and can be traded only in the demat
folio per calendar month. form. About 99.28% of total shares of the Company have been
dematerialized.
Distribution of shareholding as on 31st March, 2013
International Securities Identication Number (ISIN) allotted to the
The distribution of the shareholding of the equity shares of the
Company by NSDL and CDSL is INE694A01020.
Company and the shareholding pattern as on 31st March, 2013
are given in Table 11 and 12 respectively.
TABLE 11 DISTRIBUTION OF SHAREHOLDING AS ON 31ST MARCH 2013
Range (No. of Shares) No. of Shareholders % of Shareholders Total Shares in the Range % of shareholding
Upto 500 537524 85.30 71243857 2.72
501-1000 46620 7.40 36836403 1.41
1001-5000 35647 5.66 75483185 2.89
5001-10000 4803 0.76 35234398 1.35
10001-50000 4842 0.77 91705279 3.50
50001-100000 285 0.04 20255541 0.77
100001-500000 274 0.04 61354910 2.35
500001 & above 166 0.03 2224187474 85.01
Total 630161 100.00 2616301047 100.00
TABLE 12 SHAREHOLDING PATTERN OF THE COMPANY AS ON 31ST MARCH, 2013
Sl. No. Category of shareholder No. of Shares % of shareholding

(A) PROMOTERS AND PROMOTER GROUP 1264956868 48.35
(B) PUBLIC SHAREHOLDING
(1) Institutions
(a) Mutual Funds/ UTI 2388908 0.09
(b) Financial Institutions/ Banks 5131225 0.20
(c) Foreign Institutional Investors 874973926 33.44
(d) Insurance Companies 24205094 0.92
Sub-Total 906699153 34.65
(2) Non-institutions
(a) Bodies Corporate 117406173 4.49
(b) Individuals 311575607 11.91
(c) Others 15663246 0.60
Sub-Total 444645026 17.00
TOTAL (A+B) 2616301047 100.00

29 30
Outstanding GDRs/ADRs/Warrants or any Convertible called Unclaimed Suspense Account opened specically for the
Instruments, conversion date and likely impact on equity purpose and the status of the said account is given in Table 13.
During the year under review, there were no outstanding GDRs/
ADRs/ Warrants or any Convertible Instruments; therefore there TABLE 13 STATUS OF UNCLAIMED SUSPENSE ACCOUNT
are no such conversion dates and likely impact on equity.
Address for correspondence by Investors: Status of Unclaimed No. of No. of Shares
Suspense Account Shareholders
(i) For transfer/transmission of shares held in physical form,
Outstanding at the beginning 254 24,75,455
duplicate share certicates, change of address and any other
query relating to the shares, except relating to dividends Approached and transferred 5 57,850
which should be addressed to the Company, investors may shares during the year 2012-13
communicate with the Registrar & Share Transfer Agent (RTA). Outstanding at the end 249 24,17,605
For Members holding shares in demat form, all other
correspondences should be addressed to their respective Voting Rights of these shares remain frozen till the time claimed by
depository participants. respective shareholders.
(ii) Mr. Deepak Jain, Vice President & Company Secretary is COMPLIANCE WITH CLAUSE 49 OF LISTING AGREEMENT
the Compliance Ofcer and investors may lodge complaints,
if any, at the following address: (a) Mandatory Requirements
Unitech Limited The Company has complied with all mandatory requirements
6, Community Centre, of Clause 49.
Saket, New Delhi 110017 (b) Extent to which Non-mandatory requirements have been
Tel.: +91-124-4125200 adopted:
Fax: +91-124-2383332
Email: [email protected] i. The Board:
Nomination Facility a) Non-Executive Chairmans Ofce:
Members are allowed to nominate any person to whom they desire The Chairman of the Company is the Executive
to have the shares transmitted in the event of death. Members Chairman and hence this provision is not
desirous of availing this facility may submit the prescribed Form applicable.
2B to the Registrar & Share Transfer Agent of the Company. For
b) Tenure of Independent Directors:
shares held in Demat Form, this form of Nomination must be sent
to the concerned Depository Participant and not to the Company The independent Directors are rotational Directors
or its Registrar & Share Transfer Agent. and their tenure is generally for a period of three
years. However, no maximum tenure has been
specically determined for them yet.
RECONCILIATION OF SHARE CAPITAL AUDIT
ii. Remuneration Committee:
As stipulated by the Securities and Exchange Board of India, M/s DMK
The Company has a duly constituted Remuneration
Associates, Company Secretaries have carried out the Reconciliation
Committee for the purpose of determining and reviewing
of Share Capital Audit to reconcile the total admitted capital with
from time to time the remuneration of Directors. The
National Securities Depository Limited (NSDL) and Central Depository
details of the Committee are given in this report under
Services (India) Limited (CDSL) and the total issued and listed capital.
the heading Committees of the Board.
This audit is carried out every quarter and the Report thereon is
submitted to the Stock Exchanges and is also placed before the Board iii. Shareholders Rights:
of Directors. The audit, inter alia, conrms that the total listed and
The Company publishes the nancial results in
paid-up capital of the Company is in agreement with the aggregate
the newspapers of English language and regional
of the total number of shares in dematerialized form (held with NSDL
language, where its registered ofce is situated and
and CDSL) and total number of shares in physical form.
uploads the same on its web-site (www.unitechgroup.
com) as well. Annual Report is also sent individually
to the shareholders of the Company through post.
TRANSFER OF UNCLAIMED SHARES INTO UNCLAIMED SUSPENSE
Further in compliance with the Green Initiative of
ACCOUNT
the Government, the Company is/has been sending
Pursuant to the relevant clauses of the Listing Agreement, the Annual Reports through e-mail to the shareholders at
Company credited unclaimed shares to a separate Demat account their registered e-mail addresses.

iv. Audit Qualications: Committee, respective Functional Heads, Head-HRD,

Managing Directors as well as Executive Chairman so
The Company always strives to present an unqualied
as to ensure ethical and fair conduct of the business of
Financial Statement.
the Company and that no personnel has been denied
v. Training of Board members: access to the Audit Committee.
The Board of Directors of the Company is continuously
briefed, by the Chairman and Managing Directors,
COMPLIANCE CERTIFICATE ON THE CORPORATE GOVERNANCE
with the developments and performance of the
Company so as to enable them to monitor the same FROM THE PRACTISING COMPANY SECRETARY
at regular intervals. Reports on risk assessment and The certicate dated 24th May, 2013 obtained from M/s. Sanjay
minimization process and new initiatives proposed Grover & Associates, Company Secretaries conrming compliance
by the Company are also presented to them for with the Corporate Governance requirements as stipulated under
suggestions and upgradation. Clause 49 of the Listing Agreement, forms a part of the Directors
vi. Mechanism of evaluation of Non-Executive Directors: Report.
The Board of Directors including the Non-Executive

Directors is vested with the responsibility of strategic For and on behalf of the Board of Directors
supervision of the Company. In view of the same, the
Board evaluates its Non-Executive Directors on the
basis of their individual contribution towards fulllment
of this responsibility.
Ramesh Chandra
vii. Whistle-Blower Policy: Chairman
The Company promotes a favourable environment Place: Gurgaon
for employees to have an open access to the Audit Date: 30th May, 2013

31 32
ANNEXURE A
Declaration under Clause 49 1 (D) of the Listing Agreement for compliance with the Code of Conduct.
As per the requirements of Clause 49 of the Listing Agreement with the Stock Exchanges, the Company has laid down a Code of Conduct
for its Board of Directors and Senior Management.
We, the Managing Directors of the Company conrm the compliance of this Code of Conduct by myself/ourselves and other members of
the Board of Directors and Senior Managerial personnel as afrmed by them individually.
For Unitech Limited
Place: Gurgaon Ajay Chandra Sanjay Chandra

Date: 30th May, 2013 Managing Director Managing Director
ANNEXURE B
The Board of Directors,
Unitech Limited,
New Delhi.
Ref: Certication under Clause 49 of the Listing Agreement
Dear Sirs,
Pursuant to the provisions of Clause 49 of the Listing Agreement with Stock Exchanges, regarding the nancial reporting for the year
ended March 2013, it is hereby certied that:
we have reviewed nancial statements and the cash ow statement for the year ended 31st March 2013 and that to the best of our
knowledge and belief :
i. these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be
misleading;
ii. these statements together present a true and fair view of the Companys affairs and are in compliance with existing accounting
standards, applicable laws and regulations.
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 violative of the Companys Code of Conduct.
we accept responsibility for establishing and maintaining internal controls for nancial reporting and that we have evaluated the
effectiveness of internal control systems of the Company pertaining to nancial reporting and we have disclosed to the auditors and the
Audit Committee, deciencies in the design or operation of such internal controls, if any, of which we are aware and the steps we have
taken or propose to take to rectify these deciencies.
we have indicated to the auditors and the Audit committee:
i. signicant changes, if any, in internal control over nancial reporting during the year;
ii. signicant changes, if any, in accounting policies during the year and that the same have been disclosed in the notes to the nancial
statements; and
iii. instances of signicant fraud of which they have become aware and the involvement therein, if any, of the management or an
employee having a signicant role in the Companys internal control system over nancial reporting.
For Unitech Limited
Place: Gurgaon Manoj Popli Ajay Chandra Sanjay Chandra

Date: 30th May,2013 Chief Financial Ofcer Managing Director Managing Director

CERTIFICATE ON CORPORATE GOVERNANCE
To,
The Members,
UNITECH LIMITED
We have examined the compliance of conditions of Corporate Governance by M/s Unitech Limited, for the year ended 31st March, 2013
as stipulated in Clause 49 of the Listing Agreement of the said Company with Stock Exchanges.
The compliance of conditions of Corporate Governance is the responsibility of the management. Our review has been limited to review
of the procedures and implementation thereof adopted by the Company for ensuring compliance with the conditions of Corporate
Governance. It is neither an audit nor an expression of opinion on the nancial statements of the Company.
In our opinion and to best of our information and according to the explanations given to us and the representations made by the Directors
and the Management, we certify that the Company has complied with the conditions of Corporate Governance as stipulated in Clause 49
of the above mentioned Listing Agreement.
We further state that such compliance is neither an assurance as to the future viability of the Company, nor the efciency or effectiveness
with which the management has conducted the affairs of the Company.
For Sanjay Grover & Associates

Company Secretaries
Date: 24th May, 2013 Sanjay Grover

Place: New Delhi C.P No. 3850

33 34
Consolidated
Financial
Statements
Bringing style to life.

INDEPENDENT AUDITORS REPORT
ON CONSOLIDATED FINANCIAL STATEMENTS
TO THE BOARD OF DIRECTORS OF UNITECH LIMITED audit procedures that are appropriate in the circumstances.
An audit also includes evaluating the appropriateness of
1. We have audited the accompanying consolidated nancial
the accounting policies used and the reasonableness of the
statements of UNITECH LIMITED (the Company), its
accounting estimates made by the Management, as well
subsidiaries and jointly controlled entities (the Company,
as evaluating the overall presentation of the consolidated
its subsidiaries and the jointly controlled entities constitute
nancial statements. We believe that the audit evidence
the Group), which comprise the Consolidated Balance
we have obtained is sufcient and appropriate to provide a
Sheet as at 31st March, 2013, the Consolidated
basis for our qualied audit opinion.
Statement of Prot and Loss and the Consolidated Cash
Flow Statement for the year then ended, and a summary
of the signicant accounting policies and other explanatory
information. BASIS FOR QUALIFIED OPINION
2. The consolidated nancial statements have been prepared 6. Reference is invited to Note 49 to the consolidated
by the Company in accordance with the requirements nancial statements according to which an amount of
of Accounting Standard 21 (Consolidated Financial 9,248,788,996 (previous year 16,074,305,962) is
Statements), Accounting Standard 23 (Accounting for outstanding in respect of advances for purchase of land,
Investment in Associates in Consolidated Financial projects pending commencement, joint ventures and
Statements) and Accounting Standard 27 (Financial collaborators which, as represented by the management,
Reporting of Interests in Joint Ventures) as notied by the have been given in the normal course of business to
Companies (Accounting Standards) Rules, 2006. land owning companies, collaborators, projects and for
purchase of land. Although signicant portion has been
adjusted / recovered during the current nancial year,
MANAGEMENTS RESPONSIBILITY FOR THE CONSOLIDATED considering that the remaining balances as at balance
sheet date are outstanding / unadjusted for long periods
FINANCIAL STATEMENTS
of time, we are unable to ascertain whether all of the
3. The Companys Management is responsible for the remaining balances as at balance sheet date are fully
preparation of these consolidated nancial statements recoverable. Accordingly, we are unable to ascertain
that give a true and fair view of the consolidated nancial the impact, if any, that may arise in case any of these
position, consolidated nancial performance and remaining advances are subsequently determined to be
consolidated cash ows of the Company in accordance doubtful of recovery.
with the accounting principles generally accepted in India.
This responsibility includes the design, implementation
and maintenance of internal controls relevant to the QUALIFIED OPINION
preparation and presentation of the consolidated nancial
statements that give a true and fair view and are free from 7. In our opinion and to the best of our information and
material misstatements, whether due to fraud or error. according to the explanations given to us, except for the
possible effects of the matter described in paragraph 6
above- the Basis for Qualied Opinion, the consolidated
AUDITORS RESPONSIBILITY nancial statements give a true and fair view in conformity
with the accounting principles generally accepted in India:
4. Our responsibility is to express an opinion on these
consolidated nancial statements based on our audit. We (a) in the case of the Consolidated Balance Sheet, of the
conducted our audit in accordance with the Standards on state of affairs of the Group as at 31st March, 2013;
Auditing issued by the Institute of Chartered Accountants (b) in the case of the Consolidated Statement of Prot
of India. Those Standards require that we comply with and Loss, of the prot of the Group for the year ended
the ethical requirements and plan and perform the on that date and
audit to obtain reasonable assurance about whether the
consolidated nancial statements are free from material (c) in the case of the Consolidated Cash Flow Statement,
misstatements. of the cash ows of the Group for the year ended on
that date.
5. An audit involves performing procedures to obtain audit
evidence about the amounts and the disclosures in
the consolidated nancial statements. The procedures EMPHASIS OF MATTER
selected depend on the auditors judgment, including the
assessment of the risks of material misstatement of the 8. We draw attention to Note 45(d) to the consolidated nancial
consolidated nancial statements, whether due to fraud statements, in respect of investment in Unitech wireless
or error. In making those risk assessments, the auditor companies, related settlement and further contractual
considers internal controls relevant to the companys investment obligation. As explained to us, the management
preparation and presentation of the consolidated nancial is not currently in a position to ascertain how and in which
statements that give a true and fair view in order to design group company the aforesaid obligation is likely to devolve

35 36
ON CONSOLIDATED FINANCIAL STATEMENTS
and thus, the consequent impact if any, on the consolidated OTHER MATTER
nancial statements of the company or afliate / associate as
the case may be in future. Further, in the event of settlement 11. We did not audit the nancial statements of some
not going through between the company and Telenor Asia subsidiaries and joint ventures, whose nancial
Pte. Ltd. as explained in note 45(d) to consolidated nancial statements reect total assets of 104,807,677,987
statements, the impact if any, on the consolidated nancial as at 31st March, 2013, total revenues of
statements is also currently not ascertainable. Our opinion 2,625,689,278 and net cash ows amounting to
is not qualied in respect of this matter. 146,500,569 for the year ended on that date as
considered in the consolidated nancial statements.
9. We draw attention to Note 48 to the nancial statements, These nancial statements have been audited by other
wherein no adjustments have been considered necessary
auditors whose reports have been furnished to us and our
for recoverability of balance of short term loans aggregating
opinion, in so far as it relates to the amounts included in
to 3,674,531,405 (previous year 3,013,863,597)
respect of these subsidiaries and joint ventures, is based
and investments in share capital / projects aggregating
to 273,980,098 (previous year 270,079,306) as solely on the reports of the other auditors. Our opinion is
the matters are sub-judice and the impact, if any, is not qualied in respect of this matter.
unascertainable at this stage. Our opinion is not qualied
in respect of this matter. For Goel Garg & Co.
10. The consolidated nancial statements include Chartered Accountants
the unaudited nancial statements of some (Firm Registration No. 000397 N)
subsidiaries and joint ventures, whose
nancial statements reect total assets of
50,702,379,397 as at 31st March, 2013, total revenue
of 4,731,876,035 and net cash ows amounting
to 383,141,448 for the year ended on that date as
(Ashok Kumar Agarwal)
considered in the consolidated nancial statements.
The consolidated nancial statements also include the Partner
Groups share of net prot of 5,995,887 associates (Membership No. 084600)
based on their unaudited nancial statements certied by
the management. Our opinion is not qualied in respect Place: Gurgaon
of this matter. Dated: 30th May, 2013

CONSOLIDATED BALANCE SHEET
AS AT 31ST MARCH, 2013
NOTES 31.03.2013 31.03.2012
EQUITY AND LIABILITIES

Shareholders funds
Share capital 2 5,232,602,094 5,232,602,094
Reserves and surplus 3 108,673,194,014 115,005,832,370
113,905,796,108 120,238,434,464
Minority Interest 592,865,522 717,920,373

Non-current liabilities
Long-term borrowings 4 28,786,214,197 21,203,168,754
Deferred tax liabilities (net) 5 338,679,165 247,560,307
Other Long term liabilities 6 16,075,908,953 20,975,053,739
Long-term provisions 7 211,960,528 183,515,346
45,412,762,843 42,609,298,146
Current liabilities
Short-term borrowings 8 10,380,430,165 10,857,576,613
Trade payables 9 12,244,394,248 6,608,548,915
Other current liabilities 10 55,838,192,200 49,685,890,454
Short-term provisions 11 481,263,354 1,062,481,381
78,944,279,967 68,214,497,363
Total 238,855,704,440 231,780,150,346

ASSETS
Non-current assets
Goodwill 21,931,057,657 21,397,456,277
Fixed assets
Tangible assets 12 13,878,680,062 11,810,281,043
Intangible assets 12 48,421,135 76,010,845
Capital work-in-progress 13,395,040,152 11,200,050,271
Intangible assets under development 82,549,113 69,386,294
27,404,690,462 23,155,728,453
Non-current investments 13 12,369,745,607 15,791,249,080
Deferred tax assets (net) 14 541,593,024 93,634,238
Long-term loans and advances 15 2,206,197,154 1,768,088,349
Other non-current assets 16 47,235,891 47,821,374
15,164,771,676 17,700,793,041
Current assets
Current investments 17 650,975,095 1,685,072,209
Inventories 18 44,025,388,163 50,265,833,914
Trade receivables 19 15,544,811,178 18,384,205,950
Cash and bank balances 20 4,063,621,733 3,151,733,247
Short-term loans and advances 21 38,791,125,159 43,203,214,479
Other current assets 22 71,279,263,317 52,836,112,776
174,355,184,645 169,526,172,575
Total 238,855,704,440 231,780,150,346
Signicant accounting policies 1
The accompanying notes are integral part of the consolidated nancial statements.
As per our report of even date For and on behalf of the Board of Directors
For Goel Garg & Co.
Chartered Accountants
FRN: 000397N
Ramesh Chandra Ajay Chandra Sanjay Chandra
Chairman Managing Director Managing Director
Partner
Membership No.084600
Place: Gurgaon G.R. Ambwani Manoj Popli Deepak Jain

Date: 30th May, 2013 Director Chief Financial Ofcer Company Secretary

37 38
CONSOLIDATED STATEMENT OF PROFIT AND LOSS
FOR THE YEAR ENDED 31ST MARCH, 2013
NOTES 31.03.2013 31.03.2012
INCOME
Revenue from operations 23 24,619,167,718 24,323,757,520
Less: Sales tax & value added tax (40,488,889) (49,910,788)
Less: Excise duty (173,283,692) (90,862,745)
24,405,395,137 24,182,983,987
Other income 24 1,887,607,844 2,116,121,821
Total revenue 26,293,002,981 26,299,105,808
EXPENSES
Cost of material consumed 25 2,157,448,082 1,275,942,031
Purchases of stock-in-trade 26 135,457,718 77,593,632
Changes in inventories of Land, nished properties/goods, work in progress 27 (227,261,651) (320,847,918)
and land development rights
Job and construction expenses 28 282,184,691 169,733,078
Real estate project expenditure 29 13,535,511,356 14,051,465,848
Employee benets expense 30 1,882,372,200 1,635,023,828
Borrowing cost 305,299,634 562,787,531
Depreciation and amortization expense 31 398,430,237 434,017,274
Other expenses 32 3,369,707,514 4,048,719,730
Total expenses 21,839,149,781 21,934,435,034
Prot before prior period items and tax 4,453,853,200 4,364,670,774

Prior period items 33 (642,993) 6,612,390
Prot before extraordinary items and tax 4,454,496,193 4,358,058,384
Extraordinary Items 34 1,035,244,999 -
Prot before tax 3,419,251,194 4,358,058,384
Tax expense
Current tax 1,637,963,646 1,897,603,601
Less : Minimum alternate tax credit entitlement (166,681,274) (61,690,011)
Net current tax 1,471,282,372 1,835,913,590
Earlier year tax / Excess provision for tax written back 242,701,253 9,352,259
Deferred Tax (336,268,042) 50,644,913
Prot/(Loss) for the year 2,041,535,611 2,462,147,622
Minority interest 48,139,046 (80,685,071)
Share of prot/(loss) in associates (Net) 6,004,211 (7,702,686)
Prot/(Loss) for the year 2,095,678,868 2,373,759,865
Earnings per equity share 41

Earnings per equity share of face value of 2 each (excluding extraordinary items)
Basic 1.20 0.91
Diluted 1.20 0.91
Earnings per equity share of face value of 2 each (including extraordinary items)
Basic 0.80 0.91
Diluted 0.80 0.91
For Goel Garg & Co.
FRN: 000397N
Partner


CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH,2013
31.03.2013 31.03.2012
Cash ow from operating activities

Prot before tax 4,454,496,193 4,358,058,384
Adjustments for:
Depreciation & amortisation 398,430,237 434,017,274
Dividend Income (19,808,237) (29,360,647)
Interest Income (816,593,661) (919,747,577)
Borrowing Cost 305,299,634 562,787,531
Provision for employee benets 34,963,170 43,224,430
(Prot) / Loss on sale of capital assets (250,762,636) (513,517,352)
(Prot) / Loss on sale of investment - 6,013,628
Provision for loss on real estate projects 72,495,550 -
Loss on sale of real estate investment 310,000,000 -
Bad debts/assets written off 109,920,139 1,294,388,364
Adjustment for opening prot - (46,635,320)
Preliminary expenses written off 5,179 3,257
Provision against doubtful debts /advances - 30,351,737
Provision for loan and loss assets 77,068,649 -
Operating prot before working capital changes 4,675,514,217 5,219,583,709
Adjustments for:
Trade and other receivables (4,035,850,997) 19,411,359,176
Inventories (752,735,839) (9,856,017,387)
Trade and other payable 6,770,160,535 6,139,673,282
Cash generated from operations 6,657,087,916 20,914,598,780
Tax paid (2,584,796,145) (1,982,038,479)
Net cash ow from operating activities (A) 4,072,291,771 18,932,560,301
Cash ow from investing activities

Purchase of xed assets (3,093,514,722) (1,109,856,818)
Sale of xed assets 582,118,610 1,863,644,624
Purchase of investments (1,124,238,928) (8,281,217,542)
Sale of investments 1,753,866,978 981,797,425
Investment in bank deposits (having maturity of more than three months) (259,568,377) 156,386,982
Interest received 1,010,466,959 793,501,720
Dividend received 19,808,237 23,458,490
Net cash ow from investing activities (B) (1,111,061,243) (5,572,285,119)
Cash ow from nancing activities

Proceeds/ (Repayments) of borrowings 2,361,216,116 (10,413,488,242)
Borrowing cost paid (5,279,898,004) (5,654,220,058)
Foreign currency translation reserve 609,278,078 1,747,706,671
Minority interest - (102,971,579)
Dividend and dividend tax paid - (6,295,142)
Net cash ow from nancing activities (C) (2,309,403,810) (14,429,268,350)
Net change in cash and cash equivalents (A+B+C) 651,826,718 (1,068,993,168)

Cash and cash equivalent at the beginning of the year 1,736,777,607 2,805,770,775
Cash and cash equivalent at the end of the year 2,388,604,325 1,736,777,607
Components of cash and cash equivalents

Cash on hand 33,346,877 20,822,192
Cheques/drafts on hand 23,386,742 198,430,283
Balances with banks:
In current account 2,326,355,706 1,517,525,132
In deposit account (with maturity of 3 months or less) 5,515,000 -
Total cash and cash equivalents 2,388,604,325 1,736,777,607
Signicant accounting policies Note 1 - -
For Goel Garg & Co.
FRN: 000397N
Partner


39 40
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
1. SIGNIFICANT ACCOUNTING POLICIES : of the Companies Act, 1956 (the Act). The consolidated
nancial statements have been prepared in accordance with
I. PRINCIPLES OF CONSOLIDATION
revised schedule VI requirements including previous year
The consolidated nancial statements include the nancial comparatives. The consolidated nancial statements have been
statements of parent Company and its subsidiaries, joint prepared under historical cost convention on an accrual basis
ventures (JVs) and interest in associates (collectively referred to in accordance with accounting principles generally accepted in
as Unitech Group) on the following basis: India. The accounting policies have been consistently applied
i. The consolidated nancial statements have been accounted by the Company and are consistent with those used in previous
as per, Accounting Standard (AS) 21 Consolidated nancial year.
statements and combined on a line by line basis by All assets and liabilities have been classied as current or non-
adding together the book values of like items of assets, current, wherever applicable as per the operating cycle of the
liabilities, income and expenses, after fully eliminating Company as per the guidance as set out in the Revised Schedule
intra-group balances and intra-group transactions resulting VI to the Companies Act, 1956.
in unrealized prots or losses. However, no effect in respect
of different method of charging depreciation by various III. USE OF ESTIMATES
subsidiaries, other than the method adopted by parent The preparation of consolidated nancial statements in
Company, has been considered. conformity with generally accepted accounting principles require
ii. Investments in associate companies have been accounted management to make estimates and assumptions that affect
as per Accounting Standard (AS) 23 Accounting for the reported amounts of assets and liabilities and disclosure
Investments in Associates in Consolidated Financial of contingent liabilities at the date of the nancial statements
Statement notied by the Companies (Accounting and the result of operations during the reporting period.
Standards) Rules, 2006 as amended from time to time. Although these estimates are based upon managements best
knowledge of current events and actions, actual results could
iii. Investment in joint ventures have been accounted as
differ from these estimates. Signicant estimates used by the
per Accounting Standard (AS) 27 Financial reporting
management in the preparation of these consolidated nancial
of interests in joint ventures notied by the Companies
statements include project revenue, project cost, saleable area,
(Accounting Standards) Rules, 2006 as amended from time
economic useful lives of xed assets, accrual of allowance for
to time.
bad and doubtful receivables, loans and advances and current
iv. The excess of cost to the parent Company of its investment and deferred taxes. Any revision to accounting estimates
in the subsidiary over the Companys portion of equity of is recognized prospectively in accordance with applicable
the subsidiary is recognized in the nancial statement as accounting standards.
goodwill.
IV. FIXED ASSETS AND DEPRECIATION
v. Goodwill arising on consolidation/acquisition of assets
is not being amortized. It is tested for impairment on a Fixed assets are stated at cost (gross block) less accumulated
periodic basis and written off, if found impaired. depreciation and impairment losses, if any. Cost comprises the
purchase price and any attributable cost of bringing the asset to
vi. The excess of Companys portion of equity of the subsidiary its working condition for its intended use. It excludes refundable
as at the date of its investment is treated as capital reserve. taxes. Borrowing costs relating to acquisition of xed assets
vii. Minority interest in the net assets of consolidated which take substantial period of time to get ready for its intended
subsidiaries consist of: use are also included to the extent they relate to the period till
such assets are ready to be put to use. Depreciation on xed
(a) the amount of equity attributable to minorities at the
assets is provided at the rates and in the manner prescribed
date on which investment in a subsidiary is made; and
in Schedule XIV of the Companies Act, 1956 on straight-line
(b) the minorities share of movements in equity since method. These rates in the opinion of the management reect
the date the parent subsidiary relationship came into the economic useful life of the assets. Some of the subsidiaries/
existence. JVs are depreciating xed assets on written down value basis at
viii. The losses applicable to the minority in a consolidated rates specied in Schedule XIV of the Companies Act 1956.
subsidiary in excess of the minority interest are adjusted Fixtures and lease hold improvements installed in leased
against the majority interest only to the extent that the buildings are amortized over the initial period of lease.
minority has a binding obligation, and is able to make good
such losses. V. INTANGIBLES AND AMORTIZATION
ix. Intra group balances and intra group transactions and Intangible assets are recognized when it is probable that future
unrealized prots have been eliminated in full. economic benets that are attributable to asset will ow to the
Company and the cost of the asset can be measured reliably.
II. BASIS OF PRESENTATION
Intangible assets (acquired or developed in house) are measured
The consolidated nancial statements relate to Unitech Limited on initial recognition at cost. Following initial recognition,
(the Company), its subsidiaries, joint ventures and interest in intangible assets are carried at cost less accumulated
associates. amortization and accumulated impairment losses, if any.
The consolidated nancial statements have been prepared Internally generated intangible assets, excluding capitalized
to comply in all material respects with the notied accounting development costs which meet capitalization criteria, are not
standards by Companies (Accounting Standards) Rules, 2006 capitalized and expenditure is reected in the Statement of
as amended from time to time and the relevant provisions Prot and Loss in the year in which the expenditure is incurred.

Cost of software is amortized over a period of 5 years, being the X. PROJECTS IN PROGRESS
estimated useful life as per the management estimates.
Project in progress disclosed as at reporting date in respect of
VI. IMPAIRMENT OF ASSETS real estate development and related activities includes aggregate
Management at each Balance Sheet date assesses using amount of costs and recognized prot (less recognized losses)
external and internal sources whether there is an indication that up to the reporting date less advances received from customers.
an asset or group of assets or a cash generating unit as the case Project costs include cost of land, land development rights,
may be impaired. Impairment occurs where the carrying value construction costs, job work, allocated borrowing costs and
exceeds the higher of value in use represented by the present other costs that are attributable to project and such other costs
value of future cash ows expected to arise from the continuing as are specically chargeable to the customer.
use of the asset and its realizable value. The impairment loss is
XI. BORROWING COST
charged off to Statement of Prot and Loss.
Borrowing cost relating to acquisition/construction/ development
VII. LEASE ACCOUNTING
of qualifying assets of the Company are capitalized until the time
Finance leases, which effectively transfer to the Company all substantial activities necessary to prepare the qualifying
substantially all the risks and benets incidental to ownership assets for their intended use are complete. A qualifying asset is
of the leased asset, are capitalized at the lower of the fair one that necessarily takes substantial period of time to get ready
value and present value of the minimum lease payments at for its intended use/sale. Borrowing cost that are attributable to
the inception of the lease term and disclosed as leased assets. the project in progress and qualifying land advances as well as
Lease payments are apportioned between the nance charges any capital work in progress are charged to respective qualifying
and reduction of the lease liability based on the implicit rate of asset . All other borrowing costs, not eligible for inventorisation /
return. Finance charges are recognized as borrowing costs in the capitalization, are charged to revenue.
Statement of Prot and Loss.
XII. REVENUE RECOGNITION
Leases where the lessor effectively retains substantially all the
risks and benets of ownership of the leased term, are classied A) Real Estate Projects
as operating leases. Operating lease payments are recognized Revenue from real estate under development/sale of
as an expense in the Statement of Prot and Loss on a straight- developed property is recognized upon transfer of all
line basis over the lease term unless there is a more systematic signicant risks and rewards of ownership of such real
basis which is more representative of the time pattern of the estate/ property, as per the terms of the contracts entered
lease expenses. into with buyers, which generally coincides with the rming
VIII. INVESTMENTS of the sales contracts/ agreements, except for contracts
where the Company still has obligations to perform
Long term investments are stated at cost. However, provision substantial acts even after the transfer of all signicant
for diminution is made to recognize any decline, other than risks and rewards. Accordingly, revenue is recognized on the
temporary, in the value of long term investments. following basis.
Current investments are stated at the lower of cost and fair a) Real estate projects undertaken up to 31st March,
value. 2004.
IX. INVENTORIES Revenue is recognized to estimate the prot @ 20% of
a) The cost of inventories comprises all cost of purchase, actual receipts and installments fallen due during the
cost of conversion and other costs incurred in bringing year towards booking of plots/constructed properties,
the inventories to their present location and condition. subject to nal adjustment, on the completion of the
Inventories are valued at cost or net realizable value, respective project.
whichever is lower on the basis of rst in rst out method. b) Real estate projects undertaken on and after 1st April,
b) Finished stock of completed real estate projects, land and 2004.
land development rights are valued at lower of cost or net Revenue from real estate projects is recognized
realizable value on the basis of actual identied units. on the Percentage of Completion Method (POC)
c) In respect of a subsidiary of the Company, inventories are of accounting. Revenue under the POC method is
valued at the lower of cost or net realizable value. The cost recognized on the basis of percentage of actual costs
of various categories of inventories is determined on the incurred including construction and development
following basis : cost of projects under execution and proportionate
land subject to such actual cost incurred being twenty
Raw materials Weighted average of landed cost percent or more of the total estimated cost of projects.
Work-in-process at plant and Material cost plus appropriate
The stage of completion under the POC method is
nished goods share of labour cost, production
measured on the basis of percentage that actual costs
overheads and other overheads
incurred on real estate projects including construction
Work-in-progress on work contracts Material cost, direct labour and and development cost and proportionate land bears to
other direct expenses at work
the total estimated cost of the project. The estimates
sites.
including those of technical nature in respect of
Components and accessories, First-in-rst out the projected revenues, projected prots, projected
stores erection, materials, spares costs, cost to completion and the foreseeable loss
and loose tools are reviewed periodically by the management and

41 42
any effect of changes in estimates is recognized in revenue, the expected loss is recognized as an expense
the period such changes are determined. Revenue is immediately.
recognized by reference to the stage of completion
B) Construction contracts
as explained above attributed to the work completed
during the year. i. In construction contracts income is recognized on
percentage of completion method. The stage of
c) Real estate projects which have commenced on or after
completion under the POC method is measured on
April 1, 2012 and also to projects which have already
the basis of percentage that actual costs incurred on
commenced but where revenue is being recognized for
construction contracts to the total estimated cost of
the rst time on or after April 1, 2012.
the contract.
Revenue from real estate projects is recognized
ii. Revenue on account of contract variations, claims and
when all signicant risks and rewards of ownership
incentives are recognized upon settlement.
by way of a legally enforceable agreement to sale
have been transferred to the buyer and subject to C) Sale of land and land development rights
the satisfaction of contractual conditions mentioned Revenue from sale of land and development rights is
herein after which signify transferring of signicant recognized upon transfer of all signicant risks and rewards
risks and rewards even though the legal title may not of ownership of such real estate/ property, as per the terms
be transferred or the possession of the real estate of the contracts entered into with buyers, which generally
may not be given to the buyer. Consequently, any act coincides with the rming of the sales contracts/ agreements.
on the real estate project performed by the Company
is, in substance on behalf of the buyer in the manner D) Sale of investment
similar to a contractor. Net sale proceeds of the investments held in subsidiaries,
Accordingly, Revenue on real estate projects is joint ventures and associates developing real estate
recognized on the Percentage of Completion Method projects are included in real estate revenue.
(POC) of accounting, when: E) Revenue from lease rentals and related income
i. The outcome of the real estate project can be Lease income is recognized in the Statement of Prot and
estimated reliably; Loss on straight line basis over the lease term unless there
ii. It is probable that the economic benets is another systematic basis which is more representative of
associated with the project will ow to the the time pattern of the lease. Revenue from lease rental is
enterprise; disclosed net of indirect taxes, if any.
iii. The project costs to complete the project and the F) Consultancy income
stage of project completion at the reporting date Consultancy income is recognized on accrual basis based
can be measured reliably; on contractual terms on the performance of such services.
iv. The project costs attributable to the project can Revenue is recognized proportionately by reference to the
be clearly identied and measured reliably so that performance of acts dened contractually. The revenue
actual project costs incurred can be compared recognized is determined on the basis of contract value,
with prior estimates. associated costs, number of acts or other suitable basis.
Further, the Company recognise revenue on (POC) on G) Interest income

completion of the following events:- Interest income is recognized only when no signicant
i. All critical approvals necessary for commencement uncertainty as to measurability or collectability exists.
of the project have been obtained including, Income is recognized on a time proportion basis taking into
wherever applicable:- Environmental and other account the amount outstanding and the rate applicable.
clearances, approval of plans, designs etc., title to H) Dividend income
land or other rights of development / construction
Dividend income is recognized when the right to receive the
and change in land use.
same is established.
ii. The expenditure incurred on construction
I) Transmission towers
and development is not less than 25% of the
construction and development costs. i. Revenue from sale of tower parts and its components
is recognized, when signicant risk and reward of
iii. At least, 25% of the saleable project area is
ownership is transferred.
secured by contracts or agreements with buyers.
ii. Revenue from scrap and residue is recognized on
iv. At least, 10% of the total revenue as per
delivery.
the agreements of sale or any other legally
enforceable document are realized at the iii. Revenue from works contract is recognized on the
reporting date in respect of each of the contracts actual work certied by the client.
and it is reasonable to expect that the parties to
iv. Revenue from non divisible works contract is
such contracts will comply with the payment terms
recognized on the percentage of completion method,
as dened in the contracts.
based upon the acceptance by the client for the supply
d) When it is probable that in respect of real estate of the material and erection works as estimated by site
projects, the total costs will exceed total project engineers.

J) Base rent, amenities income, t-out and car park rental v. Revenue from signage, kiosks and promotion :
income
Income from signage and promotional activities is
Base rent, amenities income, t-out and car park rental recognized on accrual basis over the period for which
income, net of incentives received, are recognized as the signage is put-up or the promotional activity is
income on a time proportionate basis based on contracts/ carried out. Rent from kiosks is recognized on a time
agreements entered into by the Company with its customers. proportion basis.
Base rent comprises rental income earned from the leasing vi. Interest income :
of the owned, completed and occupied lettable ofce area
Interest income is recognized on a time proportion
of the properties.
basis, based on the interest rate implicit in the
Amenities income is rental revenue earned from the leasing transaction.
of the owned, completed and occupied lettable area at the
XIII. FOREIGN CURRENCY TRANSACTIONS
properties for common amenities.
Fit-out rental income is rental revenue earned from t- A foreign currency transaction should be recorded, on initial
out provisions developed in accordance to specications recognition in the reporting currency, by applying to the foreign
required by tenants of the properties. currency amount the exchange rate between the reporting
currency and the foreign currency at the date of the transaction.
Car parking rental income is earned from the operation of
parking facilities, with parking spaces leased to tenants on Monetary items denominated in a foreign currency should be
a monthly basis. reported using the closing rate or at the amount which is likely
to be realized from, or required to disburse such items at the
K) Operations and maintenance income Balance Sheet date as the situation demands.
Operations and maintenance income consists of revenue Non-monetary items carried in term of historical cost
earned from the provision of daily maintenance, security denominated in foreign currency, should be reported using
and administration services, and is charged to tenants exchange rate at the date of transaction.
based on the occupied lettable area of the properties.
Exchange differences arising on the settlement of monetary items
Income as per (J) and (K) above is recognised as per terms or on reporting an enterprises monetary items at rates different
of contract entered into with tenants which is recognised on from those at which they were initially recorded during the period,
a time proportion basis. or reported in previous nancial statements, should be recognized
L) Amusement park as income or as expenses in the period in which they arise.
Revenue is recognized to the extent that it is probable that Exchange differences arising on reporting of long term monetary
the economic benets will ow to the Company and the assets at rates different from those at which they were initially
revenue can be reliably measured. reported during the period or previous periods in so far they
relate to the acquisition of depreciable capital asset is added to
i. Revenue from sale of sub-leased commercial area :
or deducted from the cost of assets.
Income from sale of subleased area is recognized
The nancial statement of an integral operation is translated using
upon transfer of all signicant risks and rewards of
the above principles and procedures. In translating the nancial
ownership of such area, as per terms of the contracts
statements of a non-integral foreign operation for incorporation in
entered into with buyers, which generally coincides
with the conrmation of measurement of the super its nancial statements, the assets and liabilities, both monetary
built up area and execution of lease agreement and non-monetary, of the non-integral foreign operation is
between sub-lessee and Company or execution of translated at the closing rate; income and expense items of the
tripartite sub lease deed between sub-lessee, tenant non-integral foreign operation is translated at exchange rates
and the Company. at the dates of the transactions; and all resulting exchange
differences is accumulated in a foreign currency translation
ii. Revenue from tenancy licensed area : reserve until the disposal of the net investment.
Income of tenancy licensed area is recognized as per XIV. TAXES ON INCOME
terms of contract entered into with tenants which is
recognized on a time proportion basis. Tax expense comprises both current and deferred tax.
iii. Revenue from maintenance and parking charges : Current tax is measured at the amount expected to be paid to
the tax authorities, using the applicable tax rates and tax laws
Income from maintenance charges include charges that are enacted or substantially enacted.
collected from customers towards electricity, common
area maintenance and other charges, which are Deferred tax is recognized on timing differences, being the
accounted based upon the contracts/agreements differences between the taxable income and the accounting
entered into by the Company with its customers, revenue income that originate in one period and are capable of reversal
is recognized net of service-tax. Income from parking is in one or more subsequent periods. Deferred tax assets, subject
recognized on the date of issue of parking tickets. to consideration of prudence, are recognized and carried
forward only to the extent that there is a reasonable certainty
iv. Revenue from amusement park : that sufcient future taxable income will be available against
Income from amusement park include sale of tickets which such deferred tax assets can be realized. The tax effect
and food and beverages which are accounted for on is calculated on the accumulated timing difference at the year-
accrual basis. end based on the tax rates and laws enacted or substantially

43 44
enacted on the Balance Sheet date. In situations where the assets is reduced from the gross obligation under the
Company has unabsorbed depreciation or carry forward tax dened benet plan, to recognize the obligation on net
losses, all deferred tax assets are recognized only if there is basis. Past service cost is recognized as expense on
virtual certainty supported by convincing evidence that they can a straight-line basis over the average period until the
be realized against future taxable prots. At each Balance Sheet benets become vested.
date the Company re-assesses unrecognized deferred tax assets.
In respect of certain entities within the group, provident
It recognizes unrecognized deferred tax assets to the extent that
fund contributions are made to the Companys
it has become reasonably certain or virtually certain, as the case
provident fund trust. Decits, if any, based on the
may be, that sufcient future taxable income will be available
actuarial valuation performed on Balance Sheet date
against which such deferred tax assets can be realized.
between the funds and estimated obligation in this
XV. EMPLOYEE BENEFITS regard is recognized as additional liability.
A. Short term employee benets: XVI. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT
ASSETS
The Company recognizes the undiscounted amount of short
term employee benets expected to be paid in exchange for Provisions are recognized in respect of liabilities which can be
services rendered by employees as: measured only by using a substantial degree of estimates when:
(i) a liability (accrued expense) after deducting any a) the Company has a present obligation as a result of a past
amount already paid. Excess of amounts paid over event;
liability incurred is treated as prepaid expenses: or
b) a probable outow of resources embodying economic
(ii) an expense unless it is eligible to be charged to project benets will be required to settle the obligation; and
in progress or capital work in progress or xed asset as
c) the amount of the obligation can be reliably estimated.
the case may be.
Reimbursement expected in respect of expenditure required
B. Post-employment benets:
to settle a provision is recognized only when it is virtually
(i) Dened contribution plans certain that the reimbursement will be received.
The Company, as per detail hereunder, operates Contingent liability is disclosed in the case of:
dened contribution plans pertaining to provident
a) a present obligation arising from a past event, when it is not
fund scheme, employees state insurance scheme,
probable that an outow of resources embodying economic
government administered pension fund scheme and
benets will be required to settle the obligation;
superannuation scheme for eligible employees.
b) a possible obligation, that arises out of past events and the
The above dened contribution plans are post-
existence of which will be conrmed only by one or more
employment benet plans under which the Company
uncertain future events unless the probability of outow of
pays xed contributions into separate entities (funds)
resources is remote.
or to nancial institutions or state managed benet
schemes. The Companys contribution to dened Contingent assets are neither recognized nor disclosed.
contribution plans are recognized in the prot and loss However, when realization of income is virtually certain,
account in the nancial year to which they relate. related asset is recognized.
(a) Provident fund plan XVII. CASH & CASH EQUIVALENTS
In respect of certain entities in the group, those Cash and cash equivalents for the purposes of cash ow
entities make specied monthly contributions statement comprise cash at bank and in hand and short-term
towards employees provident fund to the investments with an original maturity of three months or less.
provident fund commissioner. Cash ow statement is prepared using the indirect method.
(b) Employees state insurance/ pension fund XVIII. EARNINGS PER SHARE
scheme: Basic earnings per share is calculated by dividing the net prot
The Company makes specied monthly contribution or loss for the period attributable to equity shareholders by the
towards employees state insurance scheme and weighted average number of equity shares outstanding during
government administered pension fund scheme. the period. The weighted average numbers of equity shares
outstanding during the period are adjusted for events of bonus
(c) Superannuation insurance plan:
issue, a share split and share warrants conversion.
The Company has taken group superannuation
Diluted earnings per share is calculated by adjusting net prot
policy with life insurance corporation of India for
or loss for the period attributable to equity shareholders and the
superannuation payable to the eligible employees.
weighted number of shares outstanding during the period for the
(ii) Dened benet obligations effect of all dilutive potential equity shares.
The cost of providing benets i.e. gratuity and leave Further where the Statement of Prot and Loss includes
encashment is determined using the projected unit extraordinary items (within the meaning of Accounting Standard
credit method, with actuarial valuations carried out 5, net prot and loss for the period, prior period items and
annually as at the Balance Sheet date. Actuarial changes in accounting policies), the Company discloses basic
gains and losses are recognized immediately in the and diluted earnings per share computed on the basis of
Statement of Prot and Loss. The fair value of the plan earnings excluding extraordinary items (net of tax expenses).

2. SHARE CAPITAL 31.03.2013 31.03.2012
Authorised
4,000,000,000 (4,000,000,000) Equity shares of 2 each 8,000,000,000 8,000,000,000
200,000,000 (200,000,000) Preference shares of 10 each 2,000,000,000 2,000,000,000
10,000,000,000 10,000,000,000
Issued, subscribed and fully paid-up
2,616,301,047 (2,616,301,047) Equity Shares of 2 each 5,232,602,094 5,232,602,094
Total 5,232,602,094 5,232,602,094
Reconciliation of the paid up shares outstanding at the beginning and end of the reporting year
31.03.2013 31.03.2012
Number Number
At the beginning of the year 2,616,301,047 5,232,602,094 2,616,301,047 5,232,602,094
Add : Issued during the year - - - -
Outstanding at the end of the year 2,616,301,047 5,232,602,094 2,616,301,047 5,232,602,094
The total issued share capital comprises equity shares only, having face value of 2.00 per share, ranked pari passu in all respects including voting
rights and entitlement to dividend.
Detail of shareholder holding more than 5% shares
Name of shareholder 31.03.2013 31.03.2012
Number % held Number % held
Prakausali Investments (India) Pvt. Ltd. 563,679,623 21.54% 563,679,623 21.54%
Harsil Projects Private Limited 227,501,000 8.70% 227,501,000 8.70%
HSBC Global Investment Funds A/c HSBC Global Investment Funds 155,640,753 5.95% 182,190,342 6.96%
Mauritius Limited
Aggregate number and class of shares allotted as bonus shares during the period of ve years
Number of equity shares allotted as fully paid-up bonus shares by capitalisation of free reserves in 31.03.2013 31.03.2012
September, 2007. Nil 811,687,500
3. RESERVE AND SURPLUS 31.03.2013 31.03.2012
Capital Reserve
As per last nancial statements 2,308,394,644 2,022,914,156
Addition during the year 109,190,098 285,480,488
Closing balance 2,417,584,742 2,308,394,644
Securities Premium Reserve

Less : Utilised for buy back of Shares (248,876,286) -
Closing balance 57,579,934,390 57,828,810,676
Debenture Redemption Reserve

Less : Transfer to Statement of Prot and Loss - (700,000,000)
Closing balance 2,250,000,000 2,250,000,000
General Reserve
Closing balance 3,605,384,745 3,605,384,745
Sinking Fund
As per last nancial statements 4,099,965 4,099,965
Addition during the year 607,144 -
Closing balance 4,707,109 4,099,965

45 46
Contd. 31.03.2013 31.03.2012
Reserve under Section 45-IC of RBI Act

As per last nancial statements 654,365,614 639,960,521
Addition during the year - 14,405,093
Closing balance 654,365,614 654,365,614
Foreign Currency Translation Reserve

As per last nancial statements 1,576,662,179 (171,044,492)
Addition during the year 124,168,618 1,747,706,671
Closing balance 1,700,830,797 1,576,662,179
Other Reserve
Preference Capital of other Joint venture partners *

Opening 210,976,547 210,976,547
Closing balance 210,976,547 210,976,547
Adjustment of Revaluation Reserve on consolidation

Opening - -
Addition/(deduction) during the year (6,993,181,590) -
Closing balance (6,993,181,590) -
(6,782,205,043) 210,976,547
* Represents the interests in preference capital of jointly controlled entities pertaining to other Joint venture
partners
Environment Management Reserve

As per last nancial statements 1,250,000 -
Addition during the year - 1,250,000
Closing balance 1,250,000 1,250,000
Surplus in the Statement of Prot and Loss

Add : Prot for the year 2,095,678,868 2,373,759,865
Add : Transfer from debenture redemption reserve - 700,000,000
Add/(Less): Adjustment on consolidation (1,408,906,768) (46,635,320)
Less: Appropriations
Statutory reserve - (14,392,065)
Proposed equity dividend ** - 261,630,105
Dividend distribution tax ** - 36,147,802
47,802,111,470 47,115,339,370
Add - (Less) : Transferred to minority interest (559,532,035) (555,916,281)

Add - (Less) : Associate prot (1,237,775) 6,464,911
Total 108,673,194,014 115,005,832,370

**Comprised proposed dividend & dividend distribution tax of Nil (previous year - 304,073,049) written back on non approval in annual general
meeting

4. LONG-TERM BORROWINGS Current maturities Non current portion

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Secured
Debentures (refer note 10) 390,000,000 - 1,940,014,496 -
Term loans
from banks 3,455,221,093 5,540,206,466 6,725,855,873 8,746,055,762
from nancial institutions 4,998,099,432 5,276,067,290 16,385,600,861 9,167,488,237
Finance lease obligations 18,815,484 1,779,099 48,323,036 1,596,827
8,862,136,009 10,818,052,855 25,099,794,266 17,915,140,826
Unsecured
Debentures - - 1,843,750,000 -
Deposits 3,128,228,000 2,161,085,000 1,823,332,000 3,279,541,000
Finance lease obligations 11,442,594 7,143,712 19,337,931 8,486,928
3,139,670,594 2,168,228,712 3,686,419,931 3,288,027,928
Total 12,001,806,603 12,986,281,567 28,786,214,197 21,203,168,754
(i) The terms and securities of the above secured borrowing are given hereunder
Amount outstanding Interest Security and guarantee details Repayment terms
31.03.2013 31.03.2012 Rate
a) Debentures
Non - 2,330,014,496 2,666,601,964 12.00% Secured by way of registered mortgage of certain land of 90 units of
Convertible the Company and equitable mortgage of certain lands of the 1,000,000 each
Debentures* Company / certain subsidiary companies. Further, the Non redeemable in eighteen
(for previous convertible debentures has been guaranteed by personal monthly installments
year refer guarantee of the Managing Director of the Company (refer of 5,000,000
note 9) Note 10) each starting
from15.04.2012 to
15.09.2013 and 660
units of 1,000,000
each redeemable
in eleven monthly
installments of
60,000,000 each
from 15.10.2013
to 15.08.2014.
15000000 units of
100 each redeemable
in twenty ve monthly
installments of
60,000,000 each
from 15.09.2014 to
15.09.2016. 120 units
of 1,000,000 each
redeemable in two
monthly installments
of 60,000,000 each
from 15.10.2016
to 15.11.2016
and 20 units of
1,000,000 each
as last installment
of 20,014,496 on
15.12.2016

47 48
Contd. Amount outstanding Interest Security and guarantee details Repayment terms
31.03.2013 31.03.2012 Rate
b)Term loans from banks

Term loan 1,926,003,974 2,624,578,599 12.00%- Secured by way of equitable mortgage of land of subsidiary Sixteen quarterly
16.25% Company. Further, the loan has been guaranteed by way of Installments of
corporate guarantee given by subsidiary Company along 187,500,000 starting
with personal guarantee of the Chairman and Managing from 21.12.2011
Directors of the Company.
Term loan 73,487,656 1,529,067,989 13.75%- Secured by way of equitable mortgage of certain land of the Thirty monthly
16.50% Company / certain subsidiary companies / collaborator and installments starting
hypothecation of specic project receivables. Further, the from 15.04.2011
loan has been guaranteed by way of corporate guarantee
given by certain subsidiary companies / collaborator along
with personal guarantee of the Chairman and Managing
Term loan 275,525,122 628,965,108 12.50%- Secured by way of equitable mortgage of certain land of the Thirty monthly
14.75% Company / certain subsidiary companies / collaborator and installments starting
hypothecation of specic project receivables. Further, the from 15.09.2011
loan has been guaranteed by way of corporate guarantee
given by certain subsidiary companies / collaborator along
with personal guarantee of the Chairman and Managing
Term loan 663,522,461 1,756,624,351 14.00%- Secured by way of equitable mortgage of certain land of Thirty monthly
15.00% the Company / subsidiary Company and hypothecation installments starting
of specic project receivables. Further, the loan has from 15.01.2012
been guaranteed by way of corporate guarantee given by
subsidiary Company along with personal guarantee of the
Chairman and Managing Directors of the Company.
Term loan - 414,000,000 14.25%- Secured by way of equitable mortgage of certain land of the Thirty four monthly
14.50% Company / certain subsidiary companies and hypothecation installments - Twelve
of certain project receivables. Further, the loan has been monthly installments of
guaranteed by way of personal guarantee of the Chairman of 30,000,000, Twelve
the Company. monthly installments
of 50,000,000 , Nine
of 64,000,000 and
Last installment of
30,000,000 starting
from 19.10.2009
Term loan - 500,000,000 11.50%- Secured by way of equitable mortgage of certain land of the Eight quarterly
15.25% Company / certain subsidiary companies and hypothecation installments of
of specic project receivables.Further, the loan has been 250,000,000 starting
guaranteed by way of personal guarantee of the Chairman of from 30.09.2010.
the Company.
Term loan 957,024,714 1,875,997,496 11.00%- Secured by way of equitable mortgage of certain land of the Ten quarterly
14.50% Company / certain subsidiary companies and hypothecation Installments of
of specic project receivables. Further, the loan has been 260,000,000 starting
guaranteed by way of corporate guarantee given by certain from 23.09.2011
subsidiary companies along with personal guarantee of the
Term loan - 24,792,626 11.75%- Secured by way of equitable mortgage of certain land Sixty eight equal
14.75% of the collaborator and hypothecation of specic project monthly installments
receivables. Further, the loan has been guaranteed by of 6,617,647 starting
corporate guarantee given by subsidiary Company and from 29.09.2006.
personal guarantee of the Chairman and Managing Directors
of the Company.
Term loan - 150,000,000 15.75%- Secured by way of equitable mortgage of certain land of the Eight equal quarterly
17.50% Company / certain subsidiary Company and hypothecation installments of
guaranteed by personal guarantee of the Chairman and from 10.07.2010.
Managing Directors of the Company.

31.03.2013 31.03.2012 Rate
Term loan 250,000,000 - 13.75% Secured by way of equitable mortgage of certain land of Eight equal quarterly
the Company / subsidiary Company and hypothecation installments of
guaranteed by corporate guarantee given by subsidiary from 30.06.2014.
Company .
Term loan 451,911,316 485,424,820 12.75% Secured by way of equitable mortgage of certain land of the One hundred and eight
subsidiary Company of Unitech Limited and hypothecation monthly installments
of lease rentals of the Company. Further, the loan has been starting from
guaranteed by corporate guarantee of one of the promoter 31.10.2011.
Company.
Term loan 197,657,088 - 12.75% Secured by way of equitable mortgage of certain land of the One hundred and eight
subsidiary Company of Unitech Limited and hypothecation monthly installments
of lease rentals of the Company. Further, the loan has been starting from
guaranteed by corporate guarantee of one of the promoter 30.03.2013
Company.
Term loan 633,722,994 627,117,971 12.75% Secured by way of equitable mortgage of certain land of the One hundred and eight
Company and hypothecation of lease rentals. Further, the monthly installments
loan has been guaranteed by corporate guarantee of one of starting from 15.02.
the promoter Company. 2012.
Term loan 321,450,000 230,000,000 15.00% Secured by way of equitable mortgage of project land Eight equal quarterly
and hypothecation of entire stock, other construction installments starting
material, book debts/receivables. Further, the loan has from 30.04.2012
been guaranteed by corporate guarantee given by promoter
companies.
Term loan 200,000,000 140,000,000 15.00% Secured by way of equitable mortgage of project land Eight equal quarterly
and hypothecation of entire stock, other construction installments starting
material, book debts/receivables. Further, the loan has from 30.04.2012
been guaranteed by corporate guarantee given by promoter
companies.
Term Loan 336,071,185 406,975,757 13.75% Secured by way of rst charge on all movable xed assets Seventy Installments -
(excluding movable xed assets and current assets/ Thirty Six installments
receivables / cash ows / rentals in respect of certain of 4,248,750 each
space licensed to promotor Company) and hypothecation , Twelve installments
of the certain receivables. Further, the loan has been of 8,497,500 each
guaranteed by the corporate guarantee of the promoter and Twenty Four
Company, personal guarantee of directors and pledge of installments of
part of equity shares of the Company by the promotors. 10,621,875 starting
from 15.11.2009
Term loan - 581,126,485 12.50% - Secured by way of equitable mortgage of certain land of the Twenty four monthly
15.00% Company and specic project receivables. Further, the loan installments starting
has been guaranteed by corporate guarantee given by the from 15.10.2011
holding Company and personal guarantees of the Chairman
and Managing Directors of the holding Company.
Term Loan 320,178,799 498,851,515 12.25% - Secured by way of equitable mortgage of certain land of Twenty equal quarterly
14.40% the certain subsidiary companies. Further, the loan has installments starting
been guaranteed by corporate guarantee given by certain from 31.03.2010
subsidiary companies and the holding Company.
Term Loan 65,385,514 91,784,968 11.75%- Secured by way of equitable mortgage of the entire Project One hundred and eight
14.50% Land, including building & structures on paripassu basis, monthly installments
assignment of receivables through sale of units/ shops, starting from
hypothecation of the plant and machinery of the amusement 03.04.2006
park and a charge on all xed assets of the Company.
Further the loan has been guaranteed by corporate
guarantee of promoters, pledge of shares of promoters,
receivables from amusement park to be assigned in case of
shortfall in loan repayment, personal guarantees of directors
of the Company.

49 50
31.03.2013 31.03.2012 Rate
Term Loan 158,039,183 177,663,761 14.25% Secured by way of rst charge on all immovable assets Eighty four monthly
(present & future including certain piece of land alloted installments starting
by noida authority), rst charge on pari passu basis on all from 30.06.2010
intangible assets including but not limited to the goodwill,
undertaking, uncalled capital & intellectual property rights
of the Company, hypothecation & charge on all the movable
assets ( including receivables) of the Company, Further,
the loan has been guaranteed by personal guarantee of
directors of the Company, corporate guarantee of promoters,
pledge of entire equity shareholding of the Company held by
the promoters
the promoters
the promoters
assets ( including receivables) of the Company. Further,
the promoters
Term Loan 435,398,229 478,972,781 12.50% - Secured by way of rst pari passu charge on rentals of mall One hundred and eight
14.75% and arrival village. Further, the loan has been secured by monthly installments
pari-passu charge by way of equitable mortgage of the land starting from
& building and personal guarantee given by the directors of 30.11.2009
the Company.
Term Loan 453,046,682 476,940,357 12.00% - Secured by way of rst charge on all lease rentals, rst One hundred and
14.45% mortgage on the project land, rst charge by way of twenty monthly
hypothecation on all moveable property, book debts and installments starting
receivables. Further, the loan has been guaranteed by from 01.02.2010.
personal guarantee given by directors of the Company.

31.03.2013 31.03.2012 Rate
Term loan 1,725,000,000 - 13.75% Secured by way of equitable mortgage of certain land of the Four Quarterly
Company / certain subsidiary Company and hypothecation Installments of
of all receivables of the Company. Further, the loan has 25,000,000
been guaranteed by way of corporate guarantee given by commencing from
holding Company along with personal guarantee of the 15th Jan 2013 till
Chairman and Managing Director of the holding Company. 15th Oct 2013 and 30
Quarterly Installments
of 55,000,000
beginning from 15th
Jan 2014.
Term loan 64,750,000 - 14.00% Secured by equitable mortgage of project land and Eight unequal quaterly
hypothecation of the specic project receivables. Further, installments starting
the loan has been guaranteed by the corporate guarantee of from March 2016.
promotors and land owning companies alongwith pledge of
part shares of the Company by the promotors.
c) from nancial institutions
Term loan 854,902,070 1,063,628,833 14.25%- Secured by way of equitable mortgage of certain land of the Seventeen quarterly
15.50% Company / certain subsidiary companies and hypothecation installments
of certain projects receivables. Further, the loan has been - One installment
guaranteed by personal guarantee of the Chairman and of 46,970,086,
Managing Directors of the Company and secured by pledge fteen installments
of shares of the Company held by promoters. of 71,200,000 and
last installment of
72,000,000 starting
from 30.06.2011
Term loan 491,138,187 652,872,000 14.50%- Secured by way of equitable mortgage of certain land of the Sixteen quarterly
15.75% Company / certain subsidiary companies and hypothecation installments
of certain projects receivables. Further, the loan has been - One installment
guaranteed by personal guarantee of the Chairman and of 51,421,101 and
Managing Directors of the Company and secured by pledge fteen installments of
of shares of the Company held by promoters. 54,700,000 starting
from 30.06.2011
Term loan 1,258,149,543 1,308,507,035 15.50% Secured by way of equitable mortgage of certain land of Forty two monthly
the Company / subsidiary Company and hypothecation of installments - two
certain projects receivables. Further, the loan has been monthly Installments of
guaranteed by personal guarantee of the Chairman and 25,000,000 starting
Managing Director of the Company and secured by pledge of from 31.03.2013
shares of the Company held by promoters. and forty monthly
installments of
32,500,000

51 52
31.03.2013 31.03.2012 Rate
Term loan 1,591,114,678 1,580,297,874 14.50% Secured by way of equitable mortgage of certain land of the Eleven quarterly
Company / certain subsidiary companies / collaborators installments -one
and certain projects receivables. Further, the loan has been quarterly installment of
guaranteed by personal guarantee of the Chairman and 100,000,000 and ten
Managing Director of the Company and secured by pledge of quarterly installments
shares of the Company held by promoters. of 150,000,000
starting from
31.08.2014.
Term loan - 230,000,000 14.00% Secured by way of equitable mortgage of certain land of Seven quarterly
certain subsidiary companies and hypothecation of certain installments - six
receivables. Further, loan has been secured by pledge of quarterly installments
shares of the Company held by promoters. of 250,000,000 and
last installment of
230,000,000 starting
from 15.06.2010
Term loan - 553,310,867 14.00%- Secured by way of equitable mortgage of certain land of the Twenty monthly
16.50% Company / certain subsidiary companies. Further, the loan installments of
has been guaranteed by corporate guarantee given by certain 40,000,000 and
subsidiary companies and personal guarantee of Managing last installment of
Directors of the Company and secured by pledge of shares of 33,333,333
the Company held by promoters.
Term loan 850,000,000 - 16.50% Secured by way of equitable mortgage of certain land of Twenty ve monthly
the Company / certain subsidiary companies. Further, the installments of
loan has been guaranteed by corporate guarantee given by 40,000,000 starting
certain subsidiary companies and personal guarantee of from 15.02.2014.
Managing Directors of the Company and secured by pledge
of shares of the Company held by promoters.
Term loan 1,308,000,000 1,235,000,000 12.76% Secured by way of pari-passu charge on certain land of the Twenty two quarterly
subsidiary Company. Further, the loan has been guaranteed installments - twenty
by personal guarantee of the Chairman and Managing one quarterly
Directors of the Company. installments of
73,000,000 and
last installment of
67,000,000 starting
from 07.03.2010.
Term loan - 359,999,997 13.75%- Secured by way of equitable mortgage of certain land of the Twelve equal quarterly
14.15% Company / subsidiary companies. installments of
166,666,667 starting
from 31.10.2009.
Term loan 104,166,674 729,166,670 13.50%- Secured by way of equitable mortgage of certain land of the Twenty four monthly
of the specic project receivables. Further, the loan has 52,083,333 starting
been guaranteed by corporate guarantee given by certain from 31.03.2011.
subsidiary companies along with personal guarantee of
Term loan 43,191,582 132,938,582 14.25%- Secured by way of equitable mortgage on certain land of the Twenty four monthly
Term loan 57,521,647 178,000,000 15.25% Secured by way of equitable mortgage on certain land of the Eighteen monthly
Company / certain subsidiary companies and hypothecation installments of
Chairman and Managing Director of the Company.

31.03.2013 31.03.2012 Rate
Term loan - 67,540,518 17.00%- Secured by way of equitable mortgage of certain land of Twelve monthly
18.25% the Company / subsidiary Company and hypothecation of installments starting
specic project receivables. Further , the loan has been from 01.08.2011.
guaranteed by personal guarantee of Managing Director of
the Company.
Term loan - 81,790,132 14.00%- Secured by way of equitable mortgage of certain land of the Twenty four monthly
17.50% Company / subsidiary Company. installments starting
from 01.07.2010.
Term loan 727,073,170 750,000,000 15.50%- Secured by way of equitable mortgage of certain land of the Twenty monthly
16.75% Company / certain subsidiary Company and hypothecation installments of
guaranteed by personal guarantee of Managing Director of from 30.11.2012.
the Company.
Term Loan - 1,450,000,000 16.25% Secured by way of equitable mortgage of certain land of the Repayable on
Company / certain subsidiary companies and hypothecation 15.10.2012.
on specic project receivables. Further, the loan has been
guaranteed by personal guarantee of the Chairman and
Managing Director of the Company.
Term loan 820,000,000 - 15.00% Secured by way of equitable mortgage on certain land of the Eight quarterly
Company and hypothecation of specic project receivables. installments of
Further the loan has been guaranteed by the personal 102,500,000
guarantee of Chairman and Managing Directors of the each starting from
Company 26.09.2013 ending on
26.06.2015
Term loan 3,731,000,000 - 15.00% Secured by way of equitable mortgage of certain land of Four Quarterly
Company / certain subsidiary companies and hypothecation installments of
on specic project receivables. Pledge of shares of the 300,000,000 starting
Company held by promotors, Pledge of shares of the from 15.07.2015, four
associate Company, Pledge of investment in shares by quarterly installments
associate Company. Further secured by pledge of shares of 400,000,000 ,four
of JV companies held by subsidiaries of the Company quarterly installments
and personal guarantees of the Chairman and Managing of 250,000,000
Directors of the Company. and four quarterly
installments of
50,000,000 and
ending on 15.04.2019
Term loan 200,000,000 - 17.50% Secured by way of equitable mortgage of certain land of Eight Quarterly
certain subsidiaries companies.Further, the loan has been installments of
guaranteed by corporate guarantee given by the land owning 25,000,000 starting
companies and personal guarantees of the Chairman and from 01.10.2013 and
Managing Directors of the Company and secured by pledge ending on 01.07.2015
of shares of the Company held by promoters.
Term loan 430,000,000 - 15.00% Secured by way of equitable mortgage on certain land of the Eight quarterly
Company and hypothecation of specic project receivables. installments of
Further the loan has been guaranteed by the personal 53,750,000
guarantee of Chairman and Managing Directors of the each starting from
Company 26.09.2013 ending on
26.06.2015
Term loan 2,365,422,959 1,900,012,464 13.25% Secured by way of equitable mortgage of certain land of the One hundred and
co-developers and hypothecation of lease rentals. Further, forty four monthly
the loan has been guaranteed by corporate guarantee of installments starting
one of the promotor Company and pledge of part of equity from 15.05.2012.
shares of Company by the one of the promoter Company.
Term loan 160,001,050 - 13.25% Secured by way of equitable mortgage of certain land of the One hundred thirty two
co-developers and hypothecation of lease rentals. Further, monthly installments
the loan has been guaranteed by corporate guarantee of starting from
one of the promotor Company and pledge of part of equity 15.05.2013.
shares of Company by the one of the promoter Company.

53 54
31.03.2013 31.03.2012 Rate
Term loan 80,000,525 - 13.25% Secured by way of equitable mortgage of certain land of the One hundred thirty two
co-developers and hypothecation of lease rentals. Further, monthly installments
the loan has been guaranteed by corporate guarantee of one starting from
of the promotor Company and pledge of part of equity shares 15.05.2013.
of Company by the one of the promoter Company.
Term Loan - 152,397,349 17.25% Secured by way of exclusive charge on the project land and Bridge loan convertible
pledge of entire shareholding of the Company held by the into project loan.
promoters
Term Loan 209,301,484 212,792,138 11.50% - Secured by way of equitable mortgage of certain land of One hundred and
14.25% the Company and hypothecation of Companys receivables. thirty nine monthly
Further, the loan has been guaranteed by personal installments starting
guarantee of the Chairman of the holding Company, pledge from June, 2010
of entire shareholding of the Company and the corporate
guarantee of the holding Company.
Term Loan 287,639,408 300,000,000 14.50% Secured by way of equitable mortgage of certain land of the One hundred seventeen
Company / certain subsidiary companies / collaborators and monthly installments
hypothecation of Companys receivables. Further, the loan starting from
has been guaranteed by personal guarantee of the Chairman 30.04.2012
and Managing Director of the holding Company, pledge of
shares of the holding Company held by promoters, pledge
of entire shareholding of the Company and the corporate
guarantee of the holding Company.
Term Loan 1,416,378,029 1,416,378,029 13.50% - Secured by way of rst and exclusive charge over the rights, Twenty eight installment
16.25% title and interest in certain piece of land of the Company. of 5,06,00,000
Further the loan has been guaranteed by pledge of part of starting from 31.03.2013
equity share of the Company held by the promoters.
Term Loan 76,503,395 88,923,039 13.00% - Secured by way of rst charge on all immovable assets Eighty four monthly
15.00% (present & future including certain piece of land alloted installments starting
undertaking, uncalled capital, & intellectual property rights
assets (including receivables) of the Company, Further,
the promoters
Term Loan 200,000,000 - 16.00% Secured by way of equitable mortgage of certain land of Twenty monthly
Company / certain subsidiary companies. Further, the installments of
loan has been guaranteed by corporate guarantee given 10,000,000
by the land owning companies and personal guarantees each starting from
of the Chairman and Managing Directors of the Company 31.01.2014
and secured by pledge of shares of the Company held by
promoters.
Term Loan 687,500,000 - 14.25% Secured by way of equitable mortgage of certain land of the Ten quarterly
Company / holding Company / certain subsidiary companies installments of
/collaborators and certain projects receivables. Further, 9,00,00,000
the loan has been guaranteed by personal guarantee of the each starting from
Chairman and Managing Director of the holding Company, 30.11.2014
pledge of shares of the holding Company held by promoters
and the corporate guarantee of the holding Company.
Term Loan 1,240,817,536 - 15.00% Secured by way of equitable mortgage of certain land Twenty four monthly
of the holding Company / fellow subsidiary companies installments starting
/ collaborator and hypothecation of specic project from 15.12.2014
receivables. Further, the loan has been guaranteed by way
of corporate guarantee given by certain fellow subsidiary
companies , collaborator and of holding Company along with
of the holding Company.

31.03.2013 31.03.2012 Rate
Term Loan 743,878,357 - 15.00% Secured by way of equitable mortgage of certain land Twenty four monthly
of the holding Company / fellow subsidiary companies installments starting
/ collaborator and hypothecation of specic project from 15.12.2014
receivables. Further, the loan has been guaranteed by way
of corporate guarantee given by certain fellow subsidiary
companies , collaborator and of holding Company along with
of the holding Company.
d) Finance lease obligation
Finance 1,070,063 2,042,637 9.50%- Secured by hypothecation of car against the nance lease Thirty six monthly
Lease 10.00% installments starting
from 05.05.2011.
Finance 1,589,871 - 11.25% Secured by hypothecation of car against the nance lease Sixty monthly
Lease installments starting
from 07.07.2012.
Equipment 4,139,868 - 16.00%- Secured by Hypothecation of Financed Equipments / Assets. Repayable in 39
Financing 16.25% Further the loan has been guaranteed by the personal monthly installments
guarantee of Managing Director of the Company starting from
15.06.2012
Finance 16.25% Further the loan has been guaranteed by the personal monthly installments
05.08.2012
05.09.2012
22.09.2012
15.11.2012
15.05.2013
Finance 526,764 640,902 12.05% Secured by hypothecation of car against the nance lease Fifty nine installments
Lease starting from
01.11.2011
Finance - 692,387 13.69% Secured by hypothecation of car against the nance lease Thirty Five installments
Lease starting from
01.02.2010
from 15.04.2013
from 15.04.2013
Finance lease - 64,810 12.00% Secured by hypothecation of car against the nance lease Sixty monthly
installments of from
11.12.2007
Finance lease 237,571 392,045 12.25% Secured by hypothecation of car against the nance lease Thirty six monthly
installments from
07.08.2011
installments from
07.01.2012

55 56
31.03.2013 31.03.2012 Rate
installments from
05.05.2012
Finance lease 331,549 - 12.50% Secured by hypothecation of car against the nance lease Thirty six monthly
installments from
07.07.2012
installments from
07.08.2012
installments from
05.12.2012
installments from
05.02.2013
Finance lease 136,662 - 9.84% Secured by hypothecation of car against the nance lease Fifty Nine monthly
installments from
01.12.2009
(ii) Refer note no. 51
(iii) Unsecured borrowings

One of the joint venture group Company has issued 73,750,000 compulsorily convertible debentures of 100 each amounting to 7,375,000,000.
The amount 1,843,750,000 represents unadjusted amount of obligation on consolidation to Joint venture partner.
Amount Outstanding Interest Rate Repayment Terms
31.03.2013 31.03.2012
Deposits 4,951,560,000 5,440,626,000 11.00%- Repayable within two to three year from the date of deposit.
12.50%
Equipment Finance 11,816,621 - 14.50% Repayable in 36 monthly installments starting from
22.12.2012 payable in advance
Finance lease 197,848 366,770 13.00% Repayment within 3 years from the date of disbursement
Finance lease 3,738,075 963,638 13.00% Repayment within 3 years from the date of disbursement
Finance lease 15,027,981 12,751,041 13.00% Repayment within 3 years from the date of disbursement
(iv) Non Convertible Debentures of 2,390,014,496 (Previous year - 2,666,601,964), Term loan of 758,89,56,800 ( 12,304,867,922) from banks,
term loan of 159,118,97,732 ( 1030,29,77,556) and nance lease of 43,577,689 (Nil) from nancial institutions are also guaranteed by personal
guarantee of Chairman/Managing Director(s).
5. DEFERRED TAX LIABILITIES (NET) 31.03.2013 31.03.2012
Deferred tax liabilities on account of:

Depreciation 344,147,580 250,660,335
Gross deferred tax liability 344,147,580 250,660,335
Deferred tax assets on account of:
Disallowances U/s 43B 1,911,780 289,939
Gross deferred tax asset 5,468,415 3,100,028
Deferred tax liabilities (net) 338,679,165 247,560,307
6. OTHER LONG TERM LIABILITIES 31.03.2013 31.03.2012
Liability for replacement & restoration 260,629,557 262,298,750

Security deposit 1,046,899,042 1,036,867,441
Deferred liability against land* 13,471,084,251 18,682,315,710
Others 1,297,296,103 993,571,838
Total 16,075,908,953 20,975,053,739

*Deferred liability against land of 23,435,897,052 (previous year - 23,380,863,779 ) comprises current maturity of 9,964,812,801 (previous year
- 4,698,548,069 ) payable against land acquired from government development authorities on installment basis and is secured by way of rst charge
on the related land.

7. LONG-TERM PROVISIONS 31.03.2013 31.03.2012

Total 211,960,528 183,515,346
8. SHORT-TERM BORROWINGS 31.03.2013 31.03.2012
Secured
Loans repayable on demand from banks 3,293,256,967 3,310,965,506
Loans from nancial institution - 550,000,000
3,293,256,967 3,860,965,506
Unsecured
Loans repayable on demand :
from banks 26,958,183 30,159,952
from others 4,832,712,632 4,229,632,212
from related parties :
associates 319,000,000 319,000,000
enterprises controlled by key management personnel 10,103,497 59,315,997
Deposits 1,898,398,886 2,358,502,946
7,087,173,198 6,996,611,107
Total 10,380,430,165 10,857,576,613
(i) Short term secured loan

Amount outstanding Interest Security and guarantee details Repayment terms
Rate
31.03.2013 31.03.2012
a) Loan from Banks

Short term loan 400,000,000 400,000,000 14.00%- Secured by way of equitable mortgage of certain land of Repayable on
15.00% the company. demand
Working capital 1,500,000,000 1,500,000,000 14.00%- Secured by way of equitable mortgage of certain land Repayable on
demand loan 15.00% of the company. Further, the loan has been guaranteed demand
by personal guarantees of chairman and managing
directors of the company.
Working capital 645,564,000 657,964,000 14.00%- Secured by way of equitable mortgage of certain land Repayable on
demand loan 15.00% of the company / subsidiary company. Further, the loan demand
has been guaranteed by corporate guarantee given
by subsidiary company and personal guarantees of
chairman and managing directors of the company.
Cash credit/overdraft 452,286,200 410,957,471 14.00% Secured by way of hypothecation of book debts and Repayable on
facility -16.75% certain xed assets of the company along with equitable demand
mortgage of certain land of the company / subsidiary
companies. Further, the loan has been guaranteed by
corporate guarantees given by subsidiary companies
and personal guarantees of chairman and managing
directors of the company.
Working capital 145,550,983 146,365,975 16.25% Secured by way of rst charge on all xed assets and Repayable on
demand loan stock and book debts of the company and equitable demand
mortgage of certain land of the subsidiary companies
of the holding company. Further, the loan has been
guaranteed by corporate guarantee and personal
guarantees of chairman and managing director of the by
holding company

57 58
Rate
31.03.2013 31.03.2012
Working capital 149,855,784 148,520,150 15.75% Secured by way of rst charge on all xed assets and Repayable on
demand loan stock and book debts of the company and equitable demand
mortgage of certain land of the subsidiary companies
of the holding company. Further, the loan has been
guaranteed by corporate guarantee and personal
guarantees of chairman and managing director of the by
holding company
Working capital - 47,157,910 13.25% Secured by way of equitable mortgage of the certain Repayable on
demand loan land of certain subsidiary of the company. Further, the demand
loan has been guaranteed by the corporate guarantee
given by the holding company.
b) Loan from nancial institutions
Inter corporate - 550,000,000 15.25% Secured by way of equitable mortgage of certain land Repayable within
deposit of the company / certain subsidiary companies / one year
collaborators and certain projects receivables. Further,
the loan has been guaranteed by personal guarantee
of the chairman and managing director of the holding
company, pledge of shares of the holding company held
by promoters and the corporate guarantee of the holding
company.
(ii) Refer note no 51
(iii) Short term loan of 289,32,56,967 ( Previous year - 286,38,07,596) from banks and term loan of NIL (550,000,000) from nancial institutions
are guaranteed by chairman/managing director(s)/director(s).
9. TRADE PAYABLES 31.03.2013 31.03.2012
Micro & Small enterprises (refer note 47) 69,699,746 51,108,621

Others 12,174,694,502 6,557,440,294
Total 12,244,394,248 6,608,548,915
10. OTHER CURRENT LIABILITIES 31.03.2013 31.03.2012
Current maturities of long term borrowings (refer note 4)* 12,001,806,603 12,986,281,567
Current portion of deferred liabilities against land (refer note 6) 9,964,812,801 4,698,548,069
Interest accrued but not due 784,185,185 727,205,351
Interest accrued and due (refer note 4)* 875,325,892 541,349,161
Unclaimed dividends 12,384,882 12,963,401
Unpaid matured Term Loan from bank and interest accrued thereon 8,878,021,200 8,172,656,869
Unpaid matured debentures and interest accrued thereon (refer note 4)** 218,941,289 2,666,601,964
Statutory taxes and dues 1,236,221,781 937,876,948
Employee payables 349,817,742 241,072,615
Expenses payable 8,571,554,790 4,998,178,027
Security deposit 1,342,485,617 799,304,105
Advance received from customer 10,238,589,907 10,552,762,488
Book overdrafts 98,491,229 762,813,315
Other payables 1,265,553,282 1,588,276,574
Total 55,838,192,200 49,685,890,454

Securities & terms of repayments
* Term loan from nancial institution
Term loan of 1,450,000,000 repayable on 15.10.2012 and interest accrued thereon of 84,587,622 is secured by way of equitable mortgage of
certain land of the Company / certain subsidiary companies and hypothecation on specic project receivables. Further, the loan has been guaranteed
by personal guarantee of the Chairman and Managing Director of the Company.

** Debentures (current year)
In respect of current year, 60, 12% Secured Redeemable Non-convertible Debentures of 10,00,000 each were outstanding upto 31st March, 2013.
The interest outstanding on debenture is 158,941,289.
** Debentures (previous year)
250, 11.00% Secured Redeemable Non-convertible Debentures of 10,00,000 each were redeemable, at par on 16th May, 2011.
250, 11.00% Secured Redeemable Non-convertible Debentures of 10,00,000 each were redeemable, at par on 15th June, 2011.
250, 11.00% Secured Redeemable Non-convertible Debentures of 10,00,000 each were redeemable, at par on 16th August, 2011.
50,00,000, 11.00% Secured Redeemable Non-convertible Debentures of 100 each were redeemable, at par on 15th September, 2011.
50,00,000, 11.00% Secured Redeemable Non-convertible Debentures of 100 each were redeemable, at par on 15th December, 2011.
50,00,000, 11.00% Secured Redeemable Non-convertible Debentures of 100 each were redeemable, at par on 15th March, 2012.
The aforesaid debentures were secured by equitable mortgage on certain land of the Company, its subsidiaries and promoter group companies and
personal guarantee of Managing Director.
The above outstanding debentures have been restructured as well as rescheduled effective 15.04.2012. Accordingly, these debentures after such
restructuring and rescheduling has been discussed in note 4 above.
11. SHORT-TERM PROVISION 31.03.2013 31.03.2012

Provision for taxation (net of taxes paid) 267,434,331 998,961,299
Provision for standard assets* 5,451,467 3,984,547
Provision for non performing assets* 93,535,604 23,707,121
Total 481,263,354 1,062,481,381

* Provision for standard assets and provision for non-performing assets is made in accordance with Companies Prudential Norms (Reserve Bank)
Directions, 2007 amended up to date.

12. FIXED ASSETS (Amount in )
Particulars Tangible Assets Intangible Assets Total

Owned Under Lease Under Lease Owned
Land Building Plant & Furniture & Equipments Vehicles Computers Fixtures Land Plant and Vehicles Land license Computer
Machinery Fixtures in Leased Machinery Fees Software
Building
Gross block:
Cost- As at 1st April, 12,426,786,212 3,561,497,878 1,784,186,695 489,800,503 463,947,584 162,702,648 230,625,790 97,068,365 1,195,968,319 - 3,709,149 923,262 20,576,870,297
2011 159,653,892
Additions 174,324,000 2,426,073,019 560,894,994 194,057,532 301,502,299 8,010,908 36,715,986 7,187,281 83,587,958 - - 18,050,000 5,384,975 3,815,788,952
Disposals / 9,903,919,836 346,269,739 88,293,779 18,287,139 8,272,382 26,756,404 2,611,043 - 143,793,083 - - - - 10,538,203,405
(Adjustments)
As at 31st March, 2,697,190,376 5,641,301,158 2,256,787,910 665,570,896 757,177,501 143,957,152 264,730,733 104,255,646 1,135,763,194 - 3,709,149 6,308,237 13,854,455,844
2012 177,703,892
Additions 32,724,787 1,812,528,903 314,837,309 59,281,979 387,937,089 32,891,989 20,650,951 - 74,814,495 45,997,910 2,445,740 - 97,904 2,784,209,056
Disposals / 343,307,643 (4,826,231) (84,330,921) 2,646,005 20,985,276 11,185,635 434,751 3,624,755 9,750,427 - - 123,553,892 967,436 427,298,668
Adjustments
As at 31st March, 2,386,607,520 7,458,656,292 2,655,956,140 722,206,870 1,124,129,314 165,663,506 284,946,933 100,630,891 1,200,827,262 45,997,910 6,154,889 54,150,000 5,438,705 16,211,366,232
2013
Depreciation &
Amortization:
As at 1st April, 4,542,247 318,636,280 562,946,709 130,291,222 104,517,083 97,914,697 166,882,528 93,028,488 53,405,332 - 1,931 78,381,939 853,970 1,611,402,426
2011
charge for the year - 119,148,828 118,549,749 49,910,661 45,072,551 12,783,351 38,512,717 2,052,026 18,869,651 - 352,369 28,480,237 285,138 434,017,278
Disposals / - 18,923,167 23,911,366 4,668,095 2,300,823 20,738,756 235,653 - 6,477,888 - - - - 77,255,748

(Adjustments)
As at 31st March, 4,542,247 418,861,941 657,585,092 175,533,788 147,288,811 89,959,292 205,159,592 95,080,514 65,797,095 - 354,300 106,862,176 1,139,108 1,968,163,956
2012
charge for the year - 128,238,684 122,002,462 47,974,131 45,586,800 11,530,789 19,499,272 2,395,660 12,904,892 1,519,657 490,503 1,331,556 728,082 394,202,488
Impairments - - 1,146,481 - 490,969 433,279 16,657,642 - - - - - - 18,728,371
ANNUAL REPORT
Disposals / 4,542,247 (10,368,446) (25,517,673) 2,268,629 1,271,553 8,283,573 21,966,170 675,561 (5,185,186) - - 99,316,689 (423,337) 96,829,780
(Adjustments)
As at 31st March, - 557,469,071 806,251,708 221,239,290 192,095,027 93,639,787 219,350,336 96,800,613 83,887,173 1,519,657 844,803 8,877,043 2,290,527 2,284,265,036
2013
2012-13
Net block:
59
As at 31st March, 2,692,648,129 5,222,439,217 1,599,202,818 490,037,108 609,888,690 53,997,860 59,571,141 9,175,132 1,069,966,099 - 3,354,849 70,841,716 5,169,129 11,886,291,888
2012
60
As at 31st March, 2,386,607,520 6,901,187,221 1,849,704,432 500,967,580 932,034,287 72,023,719 65,596,597 3,830,278 1,116,940,089 44,478,253 5,310,086 45,272,957 3,148,178 13,927,101,197
2013
13. NON-CURRENT INVESTMENTS 31.03.2013 31.03.2012

(considered good unless stated otherwise)
Unquoted - Trade
Investments in equity instruments (fully paid-up)
In associates
Greenwood Hospitality Pvt. Ltd. 24,675,000 24,675,000
630000 (630000) equity shares of 10 each
Share of Prot/(Loss) (4,485,661) -
20,189,339 24,675,000
Millennium Plaza Ltd. 5,000,000 5,000,000

Share of Prot/(Loss) 9,258,632 (1,226,972)
14,258,632 3,773,028
Unitech Shivalik Realty Ltd 250,000 250,000

Share of Prot/(Loss) (6,535) (2,480)
243,465 247,520
Viviana Infra Developers Pvt. Ltd. - 100,000

Nil (10000) equity shares of 10 each
Share of Prot/(Loss) - (8,323)
(Includes goodwill of 53,514) - 91,677
Simpson Unitech Wireless Pvt. Ltd. 245,000 245,000

24,500 (24,500) equity shares of 10 each
(Includes goodwill of 2,45,000)
245,000 245,000
Total (A) 34,936,436 29,032,225
In others
Alice Developers Pvt. Ltd. 500,000 500,000
Askot Developers Pvt. Ltd. 500,000 500,000
Aswan Developers Pvt. Ltd. 500,000 500,000
Avens Properties Pvt. Ltd. 500,000 500,000
Carnoustie Management Pvt. Ltd. 3,178,044,000 3,178,044,000
2288696 (2288696) equity shares of Class B of 10 each
Helmand Projects Pvt. Ltd. 500,000 500,000
New Kolkata International Development Pvt. Ltd. - 60,000,000
Nil (6000000) equity shares of 10 each
New Cyberabad City Projects Private Ltd. 1,000,000,000 1,000,000,000
237000 (237000) equity share of 10 each
Unitech Corporate Parks PLC 1,043,698,039 550,465,862
43007428 (27086691) ordinary shares of 0.01 each shares
Equexa Ltd. 10,900,000 10,394,000
2002 (2002) shares Class B ordinary shares of USD 1 each

61 62
Contd. 31.03.2013 31.03.2012
Perfodemic Ltd. 10,900,000 10,394,000

Telofect Ltd. 10,900,000 10,394,000
Emperolica Ltd. 14,497,000 13,824,020
2002 (2002) ordinary shares of USD 1 each
Eleden Holding Ltd. 14,497,000 13,824,020
2002 (2002) ordinary shares of USD 1 each
Total (B) 5,285,936,039 4,849,839,902
Total (A+B) 5,320,872,475 4,878,872,127
Investments in preference shares (fully paid-up)

Nil (95000000) 1% Non-cumulative optionally
convertible redeemable Preference shares of 10 each
Telosource Ltd. 273,317,500 260,629,550
1000 (1000) non voting Preference share of US$1 each
Litheria Ltd. 273,317,500 260,629,550
1000 (1000) non voting Preference share of US$1 each
546,635,000 1,471,259,100
Investments in debentures or bonds (fully paid-up)

Aswan Developers Pvt. Ltd. 58,438,300 58,438,300
5843830(5843830) compulsorily convertible debentures of 10 each
Avens Properties Pvt Ltd 34,334,550 34,334,550
3433455 (3433455) compulsorily convertible debentures of 10 each
Alice Developers Pvt. Ltd. 34,388,900 34,388,900
Helmand Projects Pvt. Ltd. 37,555,760 37,555,760
SVI Realtors Pvt. Ltd. - 2,220,749,103
Nil (18437500) Debentures of 100 each
Askot Developers Private Limited 60,173,910 60,173,910
6017391 (6017391) SBI PLR +2.5%
Unsecured compulsorily convertible debentures of 10 each
224,891,420 2,445,640,523
Other non-current investments (fully paid-up)

CIG Realty Fund-I 250,000,000 250,000,000
25000000 (25000000) units of 10 each
CIG Realty Fund-II 337,260,000 337,260,000
33000000 (33000000) units of 10 each
CIG Realty Fund-IV 500,000,000 500,000,000
50000000 (50000000) units of 10 each
Unitech International Reality Fund 4,707,507,805 4,467,395,405
86376290 (85961043) units of USD 1 each
Share in investment made by joint venture Company 9,349,448 81,019,280
5,804,117,253 5,635,674,685

Contd. 31.03.2013 31.03.2012
Quoted - trade
Ansal Properties & Infrastructure Ltd. 61 -
2 (Nil) Equity Share of 5 each
DLF Ltd. 546 -
GMR Infrastructure Ltd. 36 -
Hindustan Construction Company Ltd. 34 -
Jaiprakash Associates Ltd. 143 -
Larsen & Tubro Ltd. 1,429 -
Mahindra Lifespace Developers Ltd. 830 -
Oberoi Realty Ltd. 573 -
Omaxe Ltd. 304 -
Sobha Developers Ltd. 807 -
4,763 -
Total 11,896,520,911 14,431,446,435
Unquoted -Non trade

Mega International Pvt. Ltd. 500,000 500,000
Prasha Technologies Ltd. 1,025,000 1,025,000
Unitech Wireless (Tamil Nadu) Pvt. Ltd. 345,000,000 345,000,000
9811356 (9811356)equity shares of 10 each
The North Kanara G.S.B. Co-Op. Bank Ltd. 8,675 8,675
867 (867) Equity Shares of 10 each
Amity Interlink Pvt. Ltd. 10,000,000 10,000,000
Daund Sugar Ltd. 100,000,000 100,000,000
10000 (10000) Equity Shares of 1,000 each
Gopani Metal industries Pvt. Ltd. 37,500,000 37,500,000
Vashi Electricals Pvt. Ltd. 55,000,000 55,000,000
Anshul Developers Pvt. Ltd. 25,000,000 25,000,000
100000 (100000) Equity Share of 10 each
Omesa Lifestyles & Technologies Pvt. Ltd. 5,500,000 5,500,000
Sakuma International Marketing Pvt. Ltd. 30,075,000 30,075,000

63 64
Contd. 31.03.2013 31.03.2012
K. V. Cements Pvt. Ltd. 125,000,000 -

734,608,675 609,608,675
Investments in equity instruments (partly paid up)

Wish Investment Pvt Ltd 17,500,000 17,500,000
218750 (218750) Equity Share of 10 each ( 5 paid up)
17,500,000 17,500,000
Investments in preference shares (fully paid-up)

A to Z Alloys Pvt. Ltd. 2,500,000 2,500,000
25000 (25000) Preference Shares of 100 each
A to Z Steelloys Pvt. Ltd. 5,000,000 5,000,000
50000 (50000) Preference Shares of 100 each
7,500,000 7,500,000
Investments in debentures or bonds (fully paid-up)

Acorus Unitech Wireless Private Limited 455,400,000 455,400,000
45540000 (45540000) Zero coupon compulsorily convertible debentures of 10 each
Cestos Unitech Wireless Private Limited 1 234,600,000

23460000 (23460000) Zero coupon compulsorily convertible debentures of 10 each
455,400,001 690,000,000
1,215,008,676 1,324,608,675
Quoted - Non trade
Bilati (Orissa) Limited 3,000,000 3,000,000
Kings International Limited 25,000 25,000
Advani Hotels & Resorts (India) Ltd. 4,000 4,000
Can Fin Homes Ltd. 29,150 29,150
ITC Ltd. 591 -
Reliance Industries Ltd. 1,728 -
3,060,469 3,058,150
Unquoted - Non trade
Investments in Mutual Fund (fully paid-up)
Canara robeco gold saving fund-regular growth 1,000,000 -
99282.344 (Nil) Units of 10 each
Canara robeco indigo fund-regular growth 150,000 -
11623.202 (Nil) Units of 10 each
Faering capital i evolv. fund 57,675,549 36,000,000
57675 (36000) Units of 1000 each
58,825,549 36,000,000
Provision for diminution in value of investments (803,669,998) (3,864,180)
Total 12,369,745,607 15,791,249,080

Contd. 31.03.2013 31.03.2012
Aggregate amount of quoted investments - at cost 3,060,469 3,058,150

Aggregate amount of unquoted investments - at cost 13,170,355,136 15,792,055,110
Aggregate amount of quoted investments - at market value 364,236 308,620
Aggregate Provision for diminution in value of investment 803,669,998 3,864,180
14. DEFERRED TAX ASSETS (NET) 31.03.2013 31.03.2012
Deferred tax assets on account of:

Business loss & unabsorbed depreciation 118,303,605 50,992,759
Provision for doubtful trade receivables/advances 23,356,344 23,359,403
Provision for diminution in value of Investments 174,577,580 -
Long term capital loss carried forward 188,557,857 -
Gross deferred tax asset 592,440,358 138,876,663
Deferred tax liabilities on account of:

Depreciation 50,847,334 45,242,425
Gross deferred tax liability 50,847,334 45,242,425
Deferred tax assets (net) 541,593,024 93,634,238
15. LONG-TERM LOANS AND ADVANCES 31.03.2013 31.03.2012

(Unsecured, considered good unless stated otherwise)
Capital advances 634,177,369 708,307,327

Security deposits 1,192,037,903 899,744,803
Advance income tax (net of provision) 60,950,484 88,346,207
VAT credit on capital goods 43,604 -
Mat credit entitlement 231,987,794 61,690,012
Others 87,000,000 10,000,000
Total 2,206,197,154 1,768,088,349
16. OTHER NON-CURRENT ASSETS 31.03.2013 31.03.2012
Unamortised costs 6,068,858 14,092,125

Fixed deposits- bank with maturity for more than 12 months 41,167,033 33,729,249
Total 47,235,891 47,821,374

65 66
17. CURRENT INVESTMENTS 31.03.2013 31.03.2012
Unquoted - Non-trade
Investments in mutual funds (fully paid-up)
Axis Treasury Advantage Fund -Institution Fund - 100,022,362
Baroda Pioneer Mutual Fund 4,000,026 -
Birla Mutual Fund - 1,682,473
Birla Sun Life Cash Manager Fund Institutional Plan 24,012,211 -
Birla Sunlife Saving Fund - Growth Regular Plan 614,124 -
Birla Sunlife Saving Fund - Retail - Daily Dividend - Reinvestment 1,108,899 1,037,811
Birla sunlife saving fund-daily dividend-regular plan 50,597,467 -
DSP Blackrock Money Manager Fund-Daily - 367,715,049
DWS Ultra Short Term Fund- Institution Plan - 100,000,616
IDFC Ultra Short Term Fund 20,007,399
ICICI Prudential M F Flexible Income Plan 5,303,170 5,303,170
ICICI Prudential Flexible Income-Regular Plan-Daily Dividend 50,635,828 -
ICICI Pru Flexible Income Plan- Premium -Daily 12,007,621 -
JPMorgan India Treasury Fund - 20,244,862
Kotak Floater Long Term - Daily Dividend 100,488,204 -
Reliance Liquid Fund-Treasury Plan-Institution Plan - 320,151,996
Reliance Money Manager Fund 24,011,033 3,452,006
Religare Ultra Short Term Fund -Insitutional- Daily - 4,229,455
SBI Mutual Fund- Institution 20,008,939 300,001,928
TATA Floater Fund 50,635,983 12,254,300
Templeton India Ultra Short Bond Super Institution Plan 118,447,838 100,000,656
UTI Treasury Advantage Fund-Institution 169,096,353 348,975,525
Total 650,975,095 1,685,072,209
Aggregate amount of unquoted investments - at cost 650,975,095 1,685,072,209

Aggregate amount of diminution in value of investments - -
18. INVENTORIES 31.03.2013 31.03.2012
Raw materials 152,646,557 65,643,948

Stores and spares 32,531,648 20,702,677
Work in progress 405,222,893 133,760,852
Finished properties/goods 660,436,234 565,767,239
Land 41,589,464,488 48,092,769,087
Land development rights 1,185,086,343 1,387,190,111
Total 44,025,388,163 50,265,833,914
19. TRADE RECEIVABLES 31.03.2013 31.03.2012

Due over six months

Considered good 11,539,013,992 13,714,625,830
Considered doubtful 27,049,142 28,052,789
11,566,063,134 13,742,678,619
Less: Provision for doubtful trade receivables (27,049,142) (28,052,789)
11,539,013,992 13,714,625,830
Others
Considered good 4,005,797,186 4,669,580,120
Total 15,544,811,178 18,384,205,950

20. CASH AND BANK BALANCES 31.03.2013 31.03.2012
Cash and cash equivalents

Cash on hand 33,346,877 20,822,192
Cheques, drafts on hand 23,386,742 198,430,283
Balances with banks
In current account 2,326,355,706 1,517,525,132
In deposit account (with maturity of 3 months or less from the reporting date) 5,515,000 -
2,388,604,325 1,736,777,607
Other bank balances

Unclaimed dividend accounts 12,384,882 12,963,401
Margin money deposits* 1,034,652,601 657,080,207
Encashable vouchers 1,071,910 -
Deposits with maturity for more than 3 months 626,908,015 744,912,032
Deposits with maturity for more than 12 months from the reporting date 41,167,033 33,729,249
1,716,184,441 1,448,684,889
Less: Amount disclosed under - non current assets (41,167,033) (33,729,249)
Total 4,063,621,733 3,151,733,247
*Margin money given against bank guarantee in respect of project in progress, statutory & other bodies
21. SHORT-TERM LOANS AND ADVANCES 31.03.2013 31.03.2012

(Unsecured,considered good unless stated otherwise)
Loans and advances to related parties:

to Joint ventures and associates
loans 15,499,748 22,684,231
others 2,071,073 1,992,278
to other related parties
advances - 6,209,774
others 25,852,058 146,462,097
43,422,879 177,348,380
Loans and advances to others:

Advance other taxes 630,915,751 292,132,152
Advances to vendors 3,744,499,327 2,641,129,208
Prepaid expenses 387,349,740 163,533,237
Inter corporate deposits 3,839,010,923 2,968,989,888
Advances to employees 40,727,097 29,635,610
Advances for purchase of land and project pending commencement 15,658,107,226 22,556,399,173
Other loan and advances 14,447,092,216 14,374,046,831
Loans and advances to others (considered doubtful) 59,000,000 59,408,376
38,806,702,280 43,085,274,475
Less: Provision for doubtful loans and advances (59,000,000) (59,408,376)
38,747,702,280 43,025,866,099
Total 38,791,125,159 43,203,214,479

67 68
22. OTHER CURRENT ASSETS 31.03.2013 31.03.2012
Unsecured, considered good unless stated otherwise

Projects in progress
On which revenue is not recognised
Projects in progress 80,516,753,320 61,228,225,552
Less: Advance received from customers (17,897,704,380) (15,235,491,627)
62,619,048,940 45,992,733,925
On which revenue is recognised
Estimated prot recognised 20,020,934,718 16,400,170,013
8,576,493,888 6,474,645,003
71,195,542,828 52,467,378,928
Security Deposits 86,000 -

Unamortised costs 3,667,365 -
Accrued interest receivable 75,201,574 269,074,872
Unbilled revenue 1,068,537 95,784,763
Other assets 3,697,013 3,874,213
Total 71,279,263,317 52,836,112,776
23. REVENUE FROM OPERATIONS For the year For the year
ended ended
31.03.2013 31.03.2012
Income from construction activity 17,636,915 9,845,255

Income from sale of land 174,845,487 32,120,446
Income from sale of land development rights - 1,325,754,128
Income from rent receipts 1,066,525,824 909,471,814
Income from consultancy 953,346,510 926,538,931
Income from ongoing real estate projects 211,346,698 216,348,823
Income from completed real estate projects 224,925,514 330,166,473
Income recognised on percentage of completion method 16,034,284,796 15,415,906,255
Gain on sale of investments in real estate projects - 740,848,311
Rooms,restaurants,banquets & other services(Including sale of food & beverages) 427,084,067 251,864,386
Maintenance charges 2,898,896,279 2,146,350,694
Sales of products-transmission tower 2,259,372,144 1,818,288,195
Income from amusement parks 332,998,604 190,854,012
Income from service charges received 17,904,880 9,399,797
24,619,167,718 24,323,757,520
Less: Excise duty (173,283,692) (90,862,745)
Less: Sales tax & value added tax (40,488,889) (49,910,788)
Total 24,405,395,137 24,182,983,987

24. OTHER INCOME For the year For the year

ended ended
31.03.2013 31.03.2012
Interest income on
Bank deposits 117,960,179 83,953,359
Others 698,633,481 835,794,218
Dividend income 19,808,237 29,360,646
Foreign exchange uctuation (net) 21,958,597 35,650,719
Prot on sale/disposal of tangible xed assets & Investments 251,868,192 529,735,940
Miscellaneous income 777,379,158 601,626,939
Total 1,887,607,844 2,116,121,821
25. COST OF MATERIALS CONSUMED For the year For the year
ended ended
31.03.2013 31.03.2012
Consumption raw materials :

Opening balance 65,643,948 107,859,263
Purchase during the year 2,071,762,208 1,229,681,990
Transferred from other expenses 1,005,695 (70,489,958)
Closing balance (152,646,557) (65,643,948)
1,985,765,294 1,201,407,347
Consumption stores and spares :

Opening balance 20,702,677 22,214,834
Purchase during the year 196,062,984 146,983,351
Transferred to other expenses (12,551,225) (73,960,824)
Closing balance (32,531,648) (20,702,677)
171,682,788 74,534,684
Total 2,157,448,082 1,275,942,031
26. PURCHASES OF STOCK-IN-TRADE For the year For the year

ended ended
31.03.2013 31.03.2012
Purchases of stock-in-trade 135,457,718 77,593,632
Total 135,457,718 77,593,632
27. CHANGES IN INVENTORIES OF LAND, FINISHED PROPERTIES/GOODS, WORK IN PROGRESS AND LAND For the year For the year
DEVELOPMENT RIGHTS ended ended
31.03.2013 31.03.2012
Change in Land
Opening stock 48,092,769,087 38,849,288,137
Land of subsidiaries acquired during the year - 302,472,820
Land procurement and others 47,732,339 5,264,324
Transfer from xed assets 269,434,600 9,102,640,590
Transfer from project in progress 246,891,314 918,042,245
Transfer to project in progress (93,058,556) (1,162,532,660)
On account of reversal of revaluation reserve in subsidiaries (6,993,181,590) -
Closing stock (41,589,464,488) (48,092,769,087)
(18,877,294) (77,593,631)

69 70
Contd. For the year For the year

ended ended
31.03.2013 31.03.2012
Change in inventories of nished properties/goods

Opening stock 565,767,239 242,366,634
Addition during the year - 331,986
Less: Closing stock (660,436,234) (565,767,239)
(94,668,995) (323,068,619)
Change in inventory of Work-in-progress
Opening stock 133,760,852 159,652,106
Transfer from xed assets 477,172,843 -
Transfer from project in progress - 53,923,078
Other adjustment (8,109,106) -
Transfer to cost of projects percentage of completion (295,270,015) -
(97,668,319) 79,814,332
Land development rights
Opening stock 1,387,190,111 1,028,435,553
Addition during the year 95,952,725 4,993,320
Transfer from project in progress - 353,761,238
Transfer to project in progress (314,103,536) -
Less: Closing stock (1,185,086,343) (1,387,190,111)
(16,047,043) -
Total (227,261,651) (320,847,918)
28. JOB AND CONSTRUCTION EXPENSES For the year For the year
ended ended
31.03.2013 31.03.2012
Wages, allowances, workmens compensation 41,340,279 21,682,981

Materials 332,748 220,424
Consumable stores 590 4,163
Tower testing expenses 1,140,703 133,912
Site travelling & conveyance 7,437 310,838
Staff welfare 4,234,911 216,915
Rent at site 2,390,300 1,897,638
Other site expenses 183,831,286 140,005,061
Contract registration charges - 46,899
Project insurance 6,900,297 1,362,783
Transportation expenses - 7,370
Consultation fees and service charges 1,343,796 -
Sub-contracts and outside labour charges 20,712,913 127,066
Repairs & maintenance on others - 37,380
other job and construction expenses 19,949,431 3,679,648
Total 282,184,691 169,733,078

29. REAL ESTATE PROJECT EXPENDITURE For the year For the year
ended ended
31.03.2013 31.03.2012
Project cost- ongoing real estate project (refer note 35) 169,077,359 173,079,059
Project cost- real estate completed projects 578,448,512 1,415,965,856
Project cost- percentage of completion method 12,392,891,112 11,728,311,234
Loss on sale of investments in real estate projects 310,000,000 -
Cost of land sold 12,598,823 24,122,068
Cost of land development rights sold - 709,987,631
Total 13,535,511,356 14,051,465,848
30. EMPLOYEE BENEFITS EXPENSE For the year For the year
ended ended
31.03.2013 31.03.2012
Salaries and wages 1,681,583,312 1,451,785,879

Contribution to funds and dened benet expenses* 152,790,553 151,141,771
Staff welfare expenses 47,998,335 32,096,178
Total 1,882,372,200 1,635,023,828

*includes expenditure on account of dened benet plans for gratutity and leave encashment amounting to 56,089,391 (Previous year -
60,687,062) and provident fund amounting to 88,661,093 (Previous year - 74,702,871).
31. DEPRECIATION AND AMORTIZATION EXPENSE For the year For the year
ended ended
31.03.2013 31.03.2012
Depreciation of tangible xed assets 377,660,610 355,491,726

Depreciation of intangible xed assets 2,041,256 67,638,954
Impairment of tangible xed assets 18,728,371 10,886,594
Total 398,430,237 434,017,274
32. OTHER EXPENSES For the year For the year

ended ended
31.03.2013 31.03.2012
Telephone, postage & Information technology expenses 55,799,301 40,246,167

Printing and stationery 42,016,199 32,811,032
Travelling and conveyance 174,373,764 127,268,115
Legal and professional charges 255,545,764 227,129,051
Insurance 9,690,867 9,814,450
Rates & taxes 94,080,204 13,076,309
Registration & ling fees 2,369,665 606,318
Rent 144,142,076 162,754,624
Auditors remuneration:
Audit fee 32,049,551 29,430,188
for taxation matter 4,423,439 2,902,564
for other services 1,508,123 1,255,238
for reimbursement of expenses 525,210 455,400
Directors sitting fees 520,000 501,436
Directors commission 10,000,000 10,000,000

71 72
Contd. For the year For the year

ended ended
31.03.2013 31.03.2012
Advertising & promotional expenses 104,128,460 91,643,521

Bank charges 26,975,618 21,830,692
Bad debts/assets written off 109,920,139 1,294,388,364
Loss on sale of xed assets 1,105,556 16,218,588
Loss on sale of investments - 6,013,628
Foreign exchange difference expenses 10,390,219 (112,942)
Provision against doubtful debts/advances 770,689 2,660,069
Provision for loan and loss assets 76,297,960 27,691,668
Books & periodicals 467,417 336,607
Brokerage and commission 114,234,069 114,612,731
Catering and tent expenses 3,694,737 3,224,723
Donation 1,589,100 168,500
Food & beverages 30,444,626 76,631,815
Health club expenses 1,224,896 976,630
Horticulture expenses 4,425,497 5,562,662
House keeping 19,560,225 26,029,886
Washing Charges 892,816 -
Information technology expenses 11,595,295 3,109,189
Interest & penalty 11,685,043 1,296,178
Kitchen utensil and F&B tools 19,859 481,687
Lease rental charges 14,117,112 15,936,419
Licence & fees 464,216 25,886
Repair and Maintainance expenses 213,966,525 182,078,611
Maintainance expenses 216,957,417 279,608,773
Royality Marketing & Research Fee 9,134,679 3,142,307
Miscellaneous expenses 378,920,970 296,141,705
Power, fuel & water 1,114,769,021 882,061,061
Preliminary expenses written off 5,179 3,257
Security charges 24,720,311 20,177,663
Transportation expenses 40,185,700 18,528,960
Total 3,369,707,514 4,048,719,730
33. PRIOR PERIOD ITEMS For the year For the year
ended ended
31.03.2013 31.03.2012
Prior period income (other income) (3,301,617) -

Prior period expenses (other expenses) 2,658,624 6,612,390
Total (642,993) 6,612,390
34. EXTRAORDINARY ITEMS For the year For the year

ended ended
31.03.2013 31.03.2012
Provision for diminution in value of investment 800,645,000 -

Loss on sale of investment 234,599,999 -
Total 1,035,244,999 -

35 a) ACCOUNTING OF REAL ESTATE PROJECTS UNDERTAKEN UP TO 31st MARCH, 2004
The actual receipts and installments due of 211,346,698 (previous year 216,348,823) for the year from booking of plots/constructed
properties in ongoing real estate projects has been credited to revenue from operations. Against this, after ascertaining prots on estimate basis
as per accounting policy No. XII(A)(i) the balance of eighty percent is adjusted in real estate project expenditure. The nal adjustment of prot/
loss is being made on completion of respective project(s).
b) CONSTRUCTION CONTRACTS (Amount in )
Particulars 31.03.2013 31.03.2012

Contract revenue recognized as revenue for the year ended 608,472,695 30,618,820
Aggregate amount of contract costs incurred and recognized prots 483,000,308 31,825,334
The amount of customer advances outstanding for contracts in progress 67,833,956 91,990,801
The amount of retentions due from customers for contracts in progress 38,798,423 32,803,770
36 EMPLOYEE BENEFITS
As per Accounting Standard (AS)15 revised, Employee Benets, the disclosures of employee benets are as given below:
(a) Dened contribution plans
Employers contribution to provident and other funds : 13,767,085 (previous year: 11,536,056)
(b) Dened benet plan
The cost of providing gratuity and long term leave encashment are determined using the projected unit credit method on the base of actuarial
valuation techniques conducted at the end of the nancial year.
The following tables summarize the component of net benet expense in respect of gratuity and leave encashment recognized in the Statement
of Prot and Loss and Balance Sheet as per actuarial valuation as on 31st March, 2013.
i. Expense recognized in the Statement of Prot and Loss (Amount in )
Particulars Gratuity Leave encashment

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Current service cost 26,365,594 21,855,622 20,303,028 17,563,304
Interest cost 12,767,812 10,772,484 4,862,577 4,164,992
Expected return on plan assets (180,175) (158,494) - -
Net actuarial (gain)/ loss recognized in the year (1,870,517) 7,727,538 (6,158,927) (1,238,384)
Expenses recognized in the Prot & Loss 37,082,713 40,197,150 19,006,678 20,489,912
ii. The amounts recognized in Balance Sheet & related analysis (Amount in )

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Present value of obligation as at the end of the year 184,405,588 157,517,562 70,763,344 60,465,308
Fair value of plan assets as at the end of the year 2,032,724 2,041,304 - -
Funded status (182,372,864) (155,476,259) (70,763,344) (60,465,308)
Net asset/(liability)recognized in Balance Sheet *(182,372,864) *(155,476,259) *(70,763,344) *(60,465,308)
* pertaining to current and non current portion as table mentioned here-in-below: (Amount in )

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Current portion 30,520,580 26,501,521 11,825,822 9,326,893
Non current portion 149,683,094 130,902,942 62,277,434 52,612,404
iii. Movement in the liability recognized in the Balance Sheet (Amount in )

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Opening net liability 159,465,867 126,472,693 60,782,202 48,999,901
Expenses as above 37,082,713 40,197,150 19,006,678 20,489,912
Benets paid (12,256,666) (9,488,733) (9,025,536) (9,024,505)
Actual Return on plan assets 113,674 74,037 - -
Closing net liability 184,405,588 157,255,146 70,763,344 60,465,308

73 74
iv. Change in present value of obligation (Amount in )

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Present value of obligation as at the beginning of the year 159,465,867 126,472,693 60,782,202 48,999,901
Interest cost 12,767,812 10,772,484 4,862,577 4,164,992
Benets paid (12,256,666) (9,488,733) (9,025,536) (9,024,505)
Actuarial (gain)/loss on obligation (1,937,019) 7,643,080 (6,158,927) (1,238,384)
v. Actuarial assumptions
Particulars Gratuity Leave Encashment

31.03.2013 31.03.2012 31.03.2013 31.03.2012
a) Mortality table (LIC) IALM (1994-96)* LIC (1994-96) IALM (1994-96)* LIC (1994-96)
b) Discounting rate (per annum) 8.00%-8.75% 8.00%-8.75% 8.00% 8.50%
c) Rate of escalation in salary (per annum) 5.00%-8.00% 5.00%-8.00% 5.50%-8.00% 6.00%-8.00%
d) Rate of return on plan assets - - - -
e) Average working life 15.91 years- 16.91 years- 15.91 years- 16.91 years-
27.80 years 29.96 years 27.80 years 28.80 years
*IALM (2006-08) mortality table is used in one JV of the Company.
The estimates of future salary growth rates have taken into account the ination, seniority, promotion and other relevant factors on long term
basis.
Provident fund contributions are made to a trust administered by the Company. Pursuant to the Guidance Note issued by the Institute of
Actuaries of India, estimated obligation at year end based on actuarial valuation has indicated that there is surplus in this regard as at
Balance Sheet date and accordingly there is no requirement to account for any decits.
37 AMALGAMATION OF COMPANIES
During the year, petition for amalgamation was led before the Honble High Court of Delhi by Havelock Investments Ltd. (a wholly owned subsidiary
of the Company) and its various subsidiary companies as details given below. The Honble High Court has approved / sanctioned the scheme of
amalgamation, which has been led with Registrar of Company (ROC), NCT of Delhi & Haryana thereby making the scheme of amalgamation
effective from the appointed date. Accordingly, nancial statements of these companies are merged to give effect of the merger. The amalgamation
is an amalgamation in the nature of merger and is accounted for under the pooling of interest method in accordance with the Accounting Standard
AS(14).
Name of transferee Company Name of transferor Company Nature of business Effective date
Havelock Investments Ltd. Gibson Developers Private Limited Real estate 09.01.2013
Gordon Developers Private Limited Real estate 09.01.2013
Andros Properties Private Limited Real estate 09.01.2013
Edward Properties Private Limited Real estate 09.01.2013
Moore Developers Private Limited Real estate 09.01.2013
Zanskar Estates Private Limited Real estate 09.01.2013
Dhauladhar Projects Private Limited Real estate 09.01.2013
Richmond Infrastructures Pvt Ltd Real estate 09.01.2013
Gordon Projects Private Limited Real estate 09.01.2013
Nene Properties Private Limited Real estate 09.01.2013
Dhauladhar Properties Private Limited Real estate 09.01.2013
Lavender Infra Developers Pvt. Ltd. Real estate 09.01.2013
Sibia Builders Pvt. Ltd. Real estate 09.01.2013
Vostok Builders Pvt. Ltd. Real estate 09.01.2013
Angers Properties Limited Real estate 09.01.2013
Cardus Properties Private Limited Real estate 09.01.2013
Cynara Airlines Pvt. Ltd. Airlines 09.01.2013
Ficus Projects Pvt. Ltd. Real estate 09.01.2013

Contd.
Name of transferee Company Name of transferor Company Nature of business Effective date
Suru Properties Pvt. Ltd. Real estate 09.01.2013
Unitech Landmark Builders Pvt. Ltd. Real estate 09.01.2013
Sironi Properties Private Limited Real estate 09.01.2013
Unitech Scotia Realtors Pvt. Ltd. Real estate 09.01.2013
Unitech Simpson Projects Pvt. Ltd. Real estate 09.01.2013
Unitech Hi-Tech Realtors Pvt. Ltd. Real estate 09.01.2013
Lavender Builders Pvt. Ltd. Real estate 09.01.2013
Unitech Hi-Tech Infrastructures Pvt. Ltd. Real estate 09.01.2013
Deoria Estates Private Limited Real estate 09.01.2013
Unitech Real-Tech Developers Pvt. Limited Real estate 09.01.2013
Samus Properties Pvt. Ltd. Real estate 09.01.2013
38 DETAIL OF SEGMENT REPORTING (Amount in )
Particulars Real estate and Property Hospitality Electrical Others Total

related activities management
External sales 18,928,648,078 1,278,392,636 407,846,877 2,678,992,741 1,111,514,805 24,405,395,137
(20,158,224,861) (1,176,052,520) (247,690,920) (2,008,379,994) (592,635,692) (24,182,983,987)
Inter segment sales - - - - - -
- - - - - -
Total 18,928,648,078 1,278,392,636 407,846,877 2,678,992,741 1,111,514,805 24,405,395,137
(20,158,224,861) (1,176,052,520) (247,690,920) (2,008,379,994) (592,635,692) (24,182,983,987)
Segment results 3,641,859,838 321,924,485 (70,601,539) 236,544,528 (206,976,376) 3,922,750,937
(3,665,470,478) (304,708,419) - (35,411,730) (161,620,668) - (118,747,988) (3,977,639,847)
Operating prot 3,922,750,937
(3,977,639,847)
Borrowing cost 305,299,634
(562,787,531)
Prior period (642,993)
adjustment (6,612,390)
Unallocable (836,401,897)
overheads net of -(943,206,068)
unallocable income
Prot before 4,454,496,193
extraordinary items (4,358,058,384)
and tax
Extraordinary items 1,035,244,999
(-)
Prot before tax(after 3,419,251,194
extraordinary items) (4,358,058,384)
Tax expense 1,377,715,583
(1,895,910,762)
Prot after tax (before 2,041,535,611
minority interest & (2,462,147,622)
share of prot in
associates)
Minority Interest 48,139,046
-(80,685,071)
Share of prot /(loss) 6,004,211
in associates (net) -(7,702,686)
Prot after tax (after 2,095,678,868
minority interest & (2,373,759,865)
share of prot in
associates)

75 76
Contd.
Particulars Real estate and Property Hospitality Electrical Others Total
related activities management
Other information
Segment assets 220,006,985,147 3,546,172,308 2,564,320,639 2,812,476,615 9,925,749,731 238,855,704,440
(215,537,673,589) (1,795,952,340) (2,505,096,019) (1,664,204,827) (10,277,223,571) (231,780,150,346)
Total 238,855,704,440
(231,780,150,346)
Segment liabilities 112,402,788,590 2,675,409,656 2,615,503,312 2,227,422,756 4,435,918,496 124,357,042,810
(101,452,644,655) (1,134,822,811) (2,302,908,037) (1,349,260,904) (4,584,159,102) (110,823,795,509)
Unallocated -
corporate liabilities -
Total 124,357,042,810
(110,580,125,052)
Capital expenditure 6,023,941,652
(1,109,856,815)
Depreciation / 398,430,237
amortization (434,017,274)
Other non cash 1,223,344,522
expenses other (1,324,743,358)
than depreciation /
amortization
Geographical segments India Overseas Total

Segment revenue - external sales 24,000,263,829 405,131,308 24,405,395,137
(23,854,822,463) (363,812,243) (24,218,634,706)
Segment assets 208,087,507,226 30,768,197,214 238,855,704,440
(202,658,752,599) (28,877,727,290) (231,536,479,889)
Addition to tangible and intangible assets 6,023,941,652 - 6,023,941,652
(1,108,258,877) (1,597,938) (1,109,856,815)
Previous year gures have been given in parentheses ().
Notes:
a. Business segments:
The business operations of the group comprise real estate development including related activities of construction, contracts, consultancy and
management services, hotels, manufacturing of power transmission and telecom towers and property management.
Real estate development includes mainly development of mini cities/ townships construction of residential and commercial complexes including
shopping malls and various types of dwelling units. The related construction activities include construction contracts of highways, roads,
powerhouses, manufacturing of transmission lines, reneries, hotels, hospitals and various types of other buildings / structures.
Consultancy and management services include overseeing of project execution, marketing of real estate ventures for associates and joint
ventures.
Manufacturing of power transmission and telecom towers in India is carried out through a subsidiary- Unitech Power Transmission Limited.
Property management activities include maintenance of commercial and other properties.
b. Geographical segments:
The consolidated and other gures are divided into two parts- Indian & overseas operations. Indian operations primarily comprise the business
segments given above. Overseas operations comprise consultancy and management services.

39 RELATED PARTY DISCLOSURES
Related parties where transaction exists are classied as :
Associates
Millennium Plaza Ltd. Simpson Unitech Wireless Pvt. Ltd.
Greenwoods Hospitality Pvt. Ltd. Unitech Shivalik Realty Ltd.
Key Management Personnel (KMP)

Name Designation
Mr. Ramesh Chandra Chairman
Mr. Sanjay Chandra Managing director
Mr. Ajay Chandra Managing director
Group of Individuals having signicant inuence over the Company & relative of such individuals
Name Designation Relatives Relation
Ms. Minoti Bahri Non executive director Mr. Rahul Bahri Brother
Enterprises owned or signicantly inuenced by key management personnel

Acorus Unitech Wireless Pvt. Ltd. Simpson Unitech Wireless Pvt. Ltd.
Cestos Unitech Wireless Pvt. Ltd. Unitech Advisors (India) Pvt. Ltd.
Mayfair Investments Pvt. Ltd.
Enterprises owned or signicantly inuenced by group of individuals or their relatives who have control or signicant inuence over the Company
R. V. Techno Investments Pvt. Ltd.
(a) Summary of signicant related parties transactions carried out in ordinary course of business are as under: (Amount in )
S. Nature of transaction Associates Key Enterprises owned Group of individuals, Total

No. management or signicantly relatives & enterprises
personnel inuenced by key owned or signicantly
management inuenced by them, who
personnel & their have signicant inuence
relatives over the Company
1. Service rendered Note(i) - - 450,000 - 450,000
(-) (-) (-) (-) (-)
2. Investments in shares- Note(ii) - - - - -
(24,500,000) (-) (-) (-) (24,500,000)
3. Share application money received - - - - -
back/adjusted-Note(iii) (9,900,000) (-) (-) (-) (9,900,000)
4. Advances received Note(iv) 1,960,564 - 690,000,000 - 691,960,564
(4,201,000) (-) (313,571,229) (-) (317,772,229)
5. Advance given Note(v) - - 740,057,156 - 740,057,156
(4,201,000) (-) (294,657,959) (-) (298,858,959)
6. Interest paid Note(vi) - - - 875,000 875,000
(-) (-) (-) (875,000) (875,000)
7. Remuneration paid Note(vii) 53,100,000 - 591,650 53,691,650
(-) (53,600,000) (-) (591,650) (54,191,650)
8. Services received Note(viii) - - 2,808,760 - 2,808,760
(-) (-) (8,256,696) (-) (8,256,696)
Previous year gures have been given in parentheses ().

77 78
Parties constituting 10% or more in a particular category:
Note (i)
Name of the party Amount in

Unitech Advisors (India) Pvt. Ltd. 450,000
(-)
Note (ii)

Greenwood Hospitality Ltd. -
(24,500,000)
Note (iii)

Viviana Infra Developers Pvt. Ltd. -
(9,900,000)
Note (iv)

Anshil Estates Pvt. Ltd. -
(61,413,270)
Mayfair Investments Pvt. Ltd. 690,000,000
(160,000,000)
Prakausali Investments (India) Pvt.Ltd. -
(87,154,301)
Note (v)

Mayfair Investments Pvt. Ltd. 740,000,000
(207,500,000)
Prakausali Investments (India) Pvt.Ltd. -
(87,154,301)
Note (vi)

R V Techno Investments Pvt. Ltd. 875,000
(875,000)
Note (vii)

Ramesh Chandra 19,116,000
(19,116,000)
Ajay Chandra 16,992,000
(17,242,000)
Sanjay Chandra 16,992,000
(17,242,000)
Note (viii)

Unitech Advisors (India) Pvt. Ltd. 2,808,760
(8,256,696)

(b) Balance as at 31.03.2013 : (Amount in )
S. Nature of transaction Associates Key Enterprises Group of individuals, Total

No. Management owned or relatives &
Personnel signicantly enterprises owned
inuenced or signicantly
by key inuenced by them,
management who have signicant
personnel & inuence over the
their relatives Company
1. Investment in shares Note (i) 29,925,000 - 245,000 - 30,170,000
(1,040,025,000) (-) (245,000) (-) (1,040,270,000)
2. Share application money given Note (ii) - - - - -
(2,000,000) (-) (-) (-) (2,000,000)
3. Advances received Note (iii) 319,000,000 - - - 319,000,000
(319,000,000) (-) (50,000,000) (-) (369,000,000)
4. Loan received Note (iv) - - - 7,000,000 7,000,000
(-) (-) (-) (7,000,000) (7,000,000)
5. Interest on loans Note (v) - - - 3,103,497 3,103,497
(-) (-) (-) (2,315,997) (2,315,997)
6. Sundry debtors Note (vi) - - - - -
(1,960,564) (-) (-) (-) (1,960,564)
7. Investment in debentures Note (vii) - - 455,400,001 - 455,400,001
(-) (-) (690,000,000) (-) (690,000,000)
Previous year gures have been given in parentheses ()
Note (i)

Millennium Plaza Ltd. 5,000,000
(5,000,000)
Greenwood Hospitality Ltd. 24,675,000
(24,675,000)
New Kolkata International Development Pvt. Ltd. -
(1,010,000,000)
Note (ii)

New Kolkata International Development Pvt. Ltd. -
(2,.000,000)
Note (iii)

Simpson Unitech Wireless Pvt. Ltd. 319,000,000
(319,000,000)
Mayfair Investments Pvt. Ltd. -
(50,000,000)
Note (iv)

R V Techno Investments Pvt. Ltd. 7,000,000
(7,000,000)
Note (v)

R V Techno Investments Pvt. Ltd. 3,103,497
(2,315,997)

79 80
Note (vi)

Millennium Plaza Ltd. -
(1,960,564)
Note (vii)

Acorus Unitech Wireless Pvt. Ltd. 455,400,000
(455,400,000)
Cestos Unitech Wireless Pvt. Ltd. 1
(234,600,000)
40 LEASED ASSETS
a) Operating lease taken:
Operating lease obligations: The Company has acquired vehicles/ ofce equipments on operating lease basis. The lease rentals are payable by
the Company on a monthly basis. Future minimum lease rentals payable as at 31st March, 2013 as per the lease agreements are as under:
(Amount in )
Particulars 31.03.2013 31.03.2012

i) Not later than one year 13,881,475 9,449,209
ii) Later than one year but not later than ve year 27,388,554 33,183,370
iii) More than ve years - -
Lease payment recognized in the Statement of Prot and Loss is 14,117,112 (previous year 15,936,419).
b) Operating lease given:
i) Details of assets given on operating lease: (Amount in )
Particulars 31.03.2013 31.03.2012

i) Gross block 6,749,724,495 5,335,454,208
ii) Accumulated depreciation 490,462,692 359,124,595
iii) Net block 6,266,286,389 4,976,329,613
ii) The Company has given buildings on operating lease basis. The lease rentals are receivable by the Company on a monthly basis. Future
minimum lease rentals receivable as at 31st March, 2013 as per the lease agreements are as under:
(Amount in )
Particulars 31.03.2013 31.03.2012

ii) Later than one year but not later than ve year 1,314,071,846 880,859,275
iii) More than ve years 70,854,979 128,853,315
Lease income recognized in the Statement of Prot and Loss is 1,066,525,824(previous year 909,471,814).
c) Finance lease :
The Company has acquired plant & machinery and vehicles under nance lease with the respective underlying assets as security. Minimum lease
payments (MLP) outstanding in respect of these assets are as follows (gures in parentheses are in respect of the previous year)
(Amount in )
Particulars Total MLP outstanding as on 31.03.2013 Interest Present Value of MLP

i) Not later than one year 26,102,250 6,679,246 19,423,004
(1,126,452) (153,878) (972,574)
ii) Later than one year but not later than ve year 46,028,064 5,473,162 40,554,902
(1,126,452) (56,389) (1,070,063)
iii) More than ve years - - -

41 EARNING PER SHARE
BASIC EARNINGS PER SHARE 31.03.2013 31.03.2012

Net prot after tax ( ) including extraordinary items 2,095,678,868 2,373,759,865
Net prot after tax ( ) excluding extraordinary items 3,130,923,867 2,373,759,865
Weighted average number of shares considered for calculation of EPS 2,616,301,047 2,616,301,047
Basic earnings per share ( )including extraordinary items 0.80 0.91
Basic earnings per share ( ) excluding extraordinary items 1.20 0.91
Face value per share ( ) 2.00 2.00
DILUTED EARNINGS PER SHARE 31.03.2013 31.03.2012

Diluted earnings per share ( )including extraordinary items 0.80 0.91
Diluted earnings per share ( ) excluding extraordinary items 1.20 0.91
42 The subsidiary companies, joint ventures and associates considered in the consolidated nancial statements are:
(A) Name of the subsidiary companies
(a) Incorporated In India Proportion (a) Incorporated In India Proportion

of ownership of ownership
interest interest
1 Abohar Builders Pvt. Ltd. 100% 26 Bengal Unitech Universal Infrastructures 98%
2 Aditya Properties Pvt. Ltd. 100% Pvt. Ltd.
3 Agmon Builders Pvt. Ltd. 100% 27 Bengal Unitech Universal Siliguri Projects 100%
Ltd.
4 Agmon Projects Pvt. Ltd. 100%
28 Bengal Unitech Universal Townscape Ltd. 100%
5 Akola Properties Ltd. 100%
29 Bengal Universal Consultants Pvt. Ltd. 98%
6 Algoa Properties Pvt. Ltd. 100%
30 Broomeld Builders Pvt. Ltd. 100%
7 Alice Builders Pvt. Ltd. 100%
31 Broomeld Developers Pvt. Ltd. 100%
8 Aller Properties Pvt. Ltd. 100%
32 Bynar Properties Pvt. Ltd. 100%
9 Alor Golf Course Pvt. Ltd. 100%
33 Cape Developers Pvt. Ltd. 100%
10 Alor Maintenance Pvt. Ltd. 100%
34 Cardus Projects Pvt. Ltd. 100%
11 Alor Projects Pvt. Ltd. 100%
35 Clarence Projects Pvt. Ltd. 100%
12 Alor Recreation Pvt. Ltd. 100%
36 Clover Projects Pvt. Ltd. 100%
13 Amaro Developers Pvt. Ltd. 100%
37 Coleus Developers Pvt. Ltd. 100%
14 Amarprem Estates Pvt. Ltd. 100%
38 Colossal Infra-Developers Pvt. Ltd. 100%
15 Amur Developers Pvt. Ltd. 100%
39 Colossal Projects Pvt. Ltd. 100%
16 Andes Estates Pvt. Ltd. 100%
40 Comfrey Developers Pvt. Ltd. 100%
17 Angul Properties Pvt. Ltd. 100%
41 Cordia Projects Pvt. Ltd. 100%
18 Arahan Properties Pvt. Ltd. 100%
42 Crimson Developers Pvt. Ltd. 100%
19 Arcadia Build- Tech Ltd. 100%
43 Croton Developers Pvt. ltd. 100%
20 Arcadia Projects Pvt. Ltd. 100%
44 Dantas Properties Pvt. Ltd. 100%
21 Ardent Build-Tech Ltd. 100%
45 Deoria Properties Ltd. 100%
22 Askot Builders Pvt. Ltd. 100%
46 Deoria Realty Pvt. Ltd. 100%
23 Avril Properties Pvt. Ltd. 100%
47 Devoke Developers Pvt. Ltd 100%
24 Azores Properties Ltd. 100%
48 Devon Builders Pvt. Ltd. 100%
25 Bengal Unitech Hospitality Pvt. Ltd. 98%
49 Dhaulagiri Builders Pvt. Ltd. 100%

81 82

interest interest
50 Dhruva Realty Projects Ltd. 100% 93 Mahoba Schools Ltd. 100%
51 Dibang Properties Pvt. Ltd. 100% 94 Manas Realty Projects Pvt. Ltd. 100%
52 Drass Projects Pvt. Ltd. 100% 95 Mandarin Developers Pvt. Ltd. 100%
53 Elbe Builders Pvt. Ltd. 100% 96 Mandarin Projects Pvt. Ltd. 100%
54 Elbrus Builders Pvt. Ltd. 100% 97 Mansar Properties Pvt. Ltd. 100%
55 Elbrus Developers Pvt. Ltd. 100% 98 Marine Builders Pvt. Ltd. 100%
56 Elbrus Properties Pvt. Ltd. 100% 99 Masla Builders Pvt. Ltd. 100%
57 Erebus Projects Pvt. Ltd. 100% 100 Mayurdhwaj Projects Pvt. Ltd. 100%
58 Erica Projects Pvt. Ltd. 100% 101 Medlar Developers Pvt. Ltd. 100%
59 Erode Projects Pvt. Ltd. 100% 102 Medwyn Builders Pvt. Ltd. 100%
60 Falcon Projects Pvt. Ltd. 100% 103 MHW Hospitality Ltd. 100%
61 Flores Projects Pvt. Ltd. 100% 104 Moore Builders Pvt. Ltd. 100%
62 Flores Properties Ltd. 100% 105 Mount Everest Projects Pvt. Ltd. 100%
63 Flores Unitech Wireless Private Limited 100% 106 Munros Projects Pvt. Ltd. 100%
(From 30.03.2013) 107 New India Construction Co. Ltd. 100%
64 Girnar Infrastructures Pvt. Ltd. 100% 108 Nirvana Real Estate Projects Ltd. 100%
65 Global Perspectives Ltd. 100% 109 Ojos Developers Pvt. Ltd. 100%
66 Greenwood Projects Pvt. Ltd. 100% 110 Onega Properties Pvt. Ltd. 100%
67 Gurgaon Recreations Park Ltd. 61.42% 111 Panchganga Projects Ltd. 100%
68 Halley Developers Pvt. Ltd. 100% 112 Panicum Projects Pvt. Ltd. 100%
69 Halley Projects Pvt. Ltd. 100% 113 Plassey Builders Pvt. Ltd. 100%
70 Harsil Builders Pvt. Ltd. 100% 114 Prasunder Estates Pvt. Ltd. 100%
71 Harsil Properties Pvt. Ltd. 100% 115 Primrose Developers Pvt. Ltd. 100%
72 Hassan Properties Pvt. Ltd. 100% 116 Purus Projects Pvt. Ltd. 100%
73 Hatsar Estates Pvt. Ltd. 100% 117 Purus Properties Pvt. Ltd. 100%
74 Havelock Estates Pvt. Ltd. 100% 118 Quadrangle Estates Pvt. Ltd. 100%
75 Havelock Investments Ltd. 100% 119 Rhine Infrastructures Pvt. Ltd. 100%
76 Havelock Properties Ltd. 98% 120 Robinia Developers Pvt. Ltd. 100%
77 Havelock Realtors Ltd. 100% 121 Ruhi Construction Co. Ltd. 100%
78 Havelock Schools Ltd. 100% 122 Sabarmati Projects Pvt. Ltd. 100%
79 High Strength Infra-Developers Pvt. Ltd. 100% 123 Samay Properties Pvt. Ltd. 100%
80 High Strength Projects Pvt. Ltd. 100% 124 Sandwood Builders & Developers Pvt. 100%
81 High Vision Healthcare Pvt. Ltd. 100% Ltd.
82 Ilam Developers Pvt. Ltd. 100% 125 Sangla Properties Pvt. Ltd. 100%
83 Jalore Properties Pvt Ltd 100% 126 Sankoo Builders Pvt. Ltd. 100%
84 Jorhat Properties Pvt. Ltd. 100% 127 Sankoo Developers Pvt. Ltd. 100%
85 Kerria Projects Pvt. Ltd. 100% 128 Sanyog Builders Ltd. 100%
86 Konar Developers Pvt. Ltd. 100% 129 Sanyog Properties Pvt. Ltd. 100%
87 Koshi Builders Pvt. Ltd. 100% 130 Sarnath Realtors Ltd. 100%
88 Landscape Builders Ltd. 100% 131 Shrishti Buildwell Pvt. Ltd. 100%
89 Lavender Developers Pvt. Ltd. 100% 132 Simpson Estates Pvt. Ltd. 100%
90 Lavender Projects Pvt. Ltd. 100% 133 Sirur Developers Pvt. Ltd. 100%
91 Madison Builders Pvt. Ltd. 100% 134 Somerville Developers Ltd. 100%
92 Mahoba Builders Pvt. Ltd. 100% 135 Sublime Developers Pvt. Ltd. 100%


interest interest
136 Sublime Properties Pvt. Ltd. 100% 179 Unitech Miraj Projects Pvt. Ltd. 100%
137 Supernal Corrugation (India) Ltd. 100% 180 Unitech Nelson Projects Pvt. Ltd. 100%
138 Tabas Estates Pvt. Ltd. 100% 181 Unitech Pioneer Nirvana Recreation Pvt. 60%
139 Uni Homes Pvt. Ltd. 100% Ltd.
140 Unitech Acacia Projects Pvt. Ltd. 45.90% 182 Unitech Power Distribution Pvt. Ltd. 100%
141 Unitech Acorus Projects Pvt. Ltd. 100% 183 Unitech Power Projects Pvt. Ltd. 100%
142 Unitech Agra Hi-Tech Township Ltd. 100% 184 Unitech Power Pvt. Ltd. 100%
143 Unitech Alice Projects Pvt. Ltd. 100% 185 Unitech Power Transmission Ltd. 100%
144 Unitech Ardent Projects Pvt. Ltd. 100% 186 Unitech Property Management Pvt. Ltd. 100%
145 Unitech Build-Con Pvt. Ltd. 51% 187 Unitech Real Estate Builders Ltd. 100%
146 Unitech Builders & Projects Ltd. 100% 188 Unitech Real Estate Developers Ltd. 100%
147 Unitech Builders Ltd. 100% 189 Unitech Real Estate Management Pvt. 100%
Ltd.
148 Unitech Buildwell Pvt. Ltd 100%
190 Unitech Real-Tech Properties Ltd. 100%
149 Unitech Business Parks Ltd. 100%
191 Unitech Realty Builders Pvt. Ltd. 100%
150 Unitech Capital Pvt. Ltd. 100%
192 Unitech Realty Developers Ltd. 100%
151 Unitech Colossal Projects Pvt. Ltd. 100%
193 Unitech Realty Estates Pvt. Ltd. 100%
152 Unitech Commercial & Residential 100%
Projects Pvt. Ltd. 194 Unitech Realty Pvt. Ltd. 100%
153 Unitech Country Club Ltd. 100% 195 Unitech Realty Ventures Ltd. 100%
154 Unitech Cynara Projects Pvt. Ltd. 100% 196 Unitech Reliable Projects Pvt. Ltd 100%
155 Unitech Developers & Hotels Pvt. Ltd 100% 197 Unitech Residential Resorts Ltd. 100%
156 Unitech High Vision Projects Ltd. 100% 198 Unitech Samus Projects Pvt. Ltd. 100%
157 Unitech Hi-Tech Builders Pvt. Ltd. 100% 199 Unitech Universal Developers Pvt. Ltd. 100%
158 Unitech Hi-Tech Developers Ltd. 51% 200 Unitech Universal Hotels Pvt. Ltd. 100%
159 Unitech Hi-Tech Projects Pvt. Ltd. 100% 201 Unitech Universal Simpson Hotels Pvt. 100%
Ltd.
160 Unitech Holdings Ltd. 100%
202 Unitech Valdel Hotels Pvt. Ltd. 100%
161 Unitech Hospitality Ltd. 100%
203 Unitech Varanasi Hi-Tech Township Ltd. 100%
162 Unitech Hospitality Services Ltd. 60%
204 Unitech Vizag Projects Ltd. 95%
163 Unitech Hotel Services Pvt. Ltd. 100%
205 Unitech-Pioneer Recreation Ltd. 60%
164 Unitech Hotels & Projects Ltd. 100%
206 Volga Realtors Pvt. Ltd. 100%
165 Unitech Hotels Pvt. Ltd. 60%
207 Zanskar Builders Pvt. Ltd. 100%
166 Unitech Hyderabad Projects Ltd. 95%
208 Zanskar Projects Pvt. Ltd. 100%
167 Unitech Hyderabad Township Ltd. 100%
209 Zanskar Realtors Pvt. Ltd. 100%
168 Unitech Industries & Estates Pvt. Ltd. 100%
210 Zanskar Realty Pvt. Ltd. 100%
169 Unitech Industries Ltd. 100%
170 Unitech Infopark Ltd. 33% (b) Incorporated outside Country of Proportion
171 Unitech Infra Ltd. 100% India incorporation of ownership
172 Unitech Infra-Developers Ltd. 100% interest
1 Alkosi Ltd. Cyprus 100%
173 Unitech Infra-Projects Pvt. Ltd. 100%
2 Bageris Ltd. Cyprus 100%
174 Unitech Infra-Properties Ltd. 100%
3 Bolemat Ltd. Cyprus 100%
175 Unitech Kochi-SEZ Ltd. 100%
4 Boracim Ltd. Cyprus 100%
176 Unitech Konar Projects Pvt. Ltd. 100%
5 Brucosa Ltd. Cyprus 100%
177 Unitech Landscape Projects Pvt. Ltd. 100%
6 Burley Holding Ltd. Republic of 100%
178 Unitech Manas Projects Pvt. Ltd. 100% Mauritius

83 84
(b) Incorporated outside Country of Proportion (a) Incorporated in India Proportion

India incorporation of ownership of ownership
interest interest
7 Comegenic Ltd. Cyprus 100% 3 MNT Buildcon Pvt. Ltd. 50%
8 Crowbel Ltd. Cyprus 100% 4 North Town Estates Pvt. Ltd. 50%
9 Empecom Corporation British Virgin 100% 5 S. B. Developers Ltd. 42.49%
Islands
6 Sarvmangalam Builders & Developers 42.51%
10 Firisa Holdings Ltd. Cyprus 100% Pvt. Ltd.
11 Gramhuge Holdings Ltd. Cyprus 100% 7 Seaview Developers Ltd. 40%
12 Gretemia Holdings Ltd. Cyprus 100% 8 Shantiniketan Properties Ltd. 40%
13 Impactlan Ltd. Cyprus 100%
9 Shivalik Ventures Pvt. Ltd. 50%
14 Insecond Ltd. Cyprus 100%
10 SVS Buildcon Pvt. Ltd. 50%
15 Kortel Ltd. Cyprus 100%
11 Uni-Chand Builders Pvt. Ltd. 50%
16 Nectrus Ltd. Cyprus 100%
12 Unitech Amusement Parks Ltd. 50%
17 Nuwell Ltd. Cyprus 100%
13 Unitech Developers and Projects Ltd. 40%
18 Reglina Holdings Ltd. Cyprus 100%
14 Unitech Hi-Tech Structures Ltd. 36%
19 Risster Holdings Ltd. Cyprus 100%
15 Unitech Infra-Con Ltd. 40%
20 Serveia Holdings Ltd. Cyprus 100%
16 Unitech LG Construction Co. Ltd. (AOP) 51%
21 Seyram Ltd. Cyprus 100%
22 Spanwave Services Ltd. Cyprus 100% 17 Unitech Realty Projects Ltd. 40%
23 Surfware Consultants Cyprus 100% 18 Unitech SAI Private Ltd. 50%

Ltd. 19 Unitech Valdel Valmark Pvt. Ltd. 50%
24 Technosolid Ltd. Cyprus 100% 20 Unival Estates India LLP 50%
25 Transdula Ltd. Cyprus 100% 21 Unival Willows Estate Pvt. Ltd. 50%
26 Unitech Global Ltd. Jersey 100% 22 Shivalik Ventures City Developers Pvt. 50%
27 Unitech Hotels Ltd. Isle of Man 100% Ltd.
28 Unitech Libya for Libya 65%
General Contracting and (b) Incorporated outside Country of Proportion
Real Estate Investment India incorporation of ownership
29 Unitech Malls Ltd. Isle of Man 100% interest
30 Unitech Ofce Fund Singapore 100% 1 Arsanovia Ltd. Cyprus 50%
Trustee Pte. Ltd. 2 Elmvale Holdings Ltd. Republic of 25%
31 Unitech Overseas Ltd. Isle of Man 100% Mauritius
32 Unitech Overseas 100% 3 Kerrush Investments Republic of 25%
Projects Ltd. (Dissolved Isle of Man Ltd. Mauritius
as on 25/09/2012)
(C) Name of associates
33 Vectex Ltd. Cyprus 51%
34 Zimuret Ltd. Cyprus 100% Incorporated in India Proportion
of ownership
(B) Name of Joint Ventures : interest
(a) Incorporated in India Proportion 1 Millennium Plaza Ltd. 50%

of ownership 2 Greenwoods Hospitality Pvt. Ltd. 35%
interest
3 Simpson Unitech Wireless Pvt. Ltd. 49%
1 Arihant Unitech Realty Projects Ltd. 50%
2 International Recreation Parks Pvt. Ltd. 39.47% 4 Unitech Shivalik Realty Ltd. 50%

(D) The effect of acquisition of the subsidiary on the consolidated nancial position is as follows:
Particulars Flores Unitech Wireless Pvt. Ltd.
I. Equity and liabilities

Shareholders funds 500,000
Minority interest -
Non-current liabilities -
Current liabilities 30,345
Total 530,345
II. Assets
Non-current assets
Current assets 431,161
Total assets 431,161
Total income considered in the consolidated nancial statements - during the year -
Prot/(Loss) considered in the consolidated nancial statements - during the year (30,345)
Reserve and surplus (99,184)
Date of acquisition 30.03.2013
% of stake acquired 100%
Cost of acquisition 500,000
Goodwill on acquisition 68,839
43 Consolidated nancial statements have been prepared after making the following adjustments:
Goodwill amounting to 21,931,057,657(previous year 21,397,456,277) arising on account of consolidation has been shown under the head
goodwill on consolidation.
44 The depreciation is being provided for on straight line method at the rates provided in Schedule XIV to the Companies Act, 1956 except for (i) Unitech
Country Club Ltd. (ii) Unitech Business Parks Ltd. (iii) Bengal Unitech Universal Infrastructure Pvt. Ltd. (iv) Global Perspectives Ltd. (v) Unitech
Realty Pvt. Ltd. (vi) Unitech Pioneer Recreation Ltd. (vii) Unitech Pioneer Nirvana Recreation Pvt. Ltd. (viii) Bengal Unitech Universal Townscape
Ltd. (ix) Unitech Ofce Fund Trustee Pte. Ltd. (x) Unitech Property Management Pvt. Ltd., (xi)Unitech Real Estate Management Pvt. Ltd., subsidiary
companies and following joint ventures: (i) International Recreation Parks Pvt. Ltd., (ii) Shivalik Ventures Pvt. Ltd., (iii) MNT Buildcon Pvt. Ltd., (iv) SVS
Buildcon Pvt. Ltd.,(v) Unitech Valdel Valmark Pvt. Ltd., where they have charged the same on written down value method. The proportion of value of
depreciation which has been charged on written down value method is as under :
(Amount in )
Particulars 31.03.2013 31.03.2012

Amount of depreciation charged on WDV basis 138,877,566 143,290,716
Total depreciation charged in consolidated accounts 377,660,610 355,491,726
% of depreciation charged on WDV basis to total depreciation 36.77% 40.31%
Impact of the difference in rates is not accounted for in the consolidated nancial statements.
45 CONTINGENT LIABILITIES
I) Claims against the Company not acknowledged as debts
a) Liquidated damages and other claims: 2,507,711,896 (previous year 1,394,081,303)
b) Following cancellation of 122 UAS licenses granted to the private companies [including 22 UAS licenses issued to Unitech Wireless (Tamilnadu)
Pvt. Ltd., Unitech Wireless (Mumbai) Pvt. Ltd., Unitech Wireless (Kolkata) Pvt. Ltd., Unitech Wireless (Delhi) Pvt. Ltd., Unitech Wireless
(North) Pvt. Ltd., Unitech Wireless (South) Pvt. Ltd., Unitech Wireless (East) Pvt. Ltd. and Unitech Wireless (West) Pvt. Ltd. (Unitech Wireless
Companies)] on or after 10th January 2008 by the Honble Supreme Court of India vide its judgment dated 2nd February 2012, Telenor Asia
Pte. Ltd. and Telenor Mobile Communications AS (collectively referred as Telenor) issued a notice of misrepresentation and fraud by the
Company, Cestos Unitech Wireless Pvt. Ltd., Simpson Unitech Wireless Pvt. Ltd., Acorus Unitech Wireless Pvt. Ltd. and Unitech Wireless
(Tamilnadu) Pvt. Ltd. and sought indemnication of its equity investment in Unitech Wireless Companies amounting to 61,356,253,283

85 86
(previous year 61,356,253,283) along with interest of 18% p.a. which is equal to 38,745,814,066 (previous year 27,701,688,475) as on
31st March 2013. Telenor has led its claim with the Singapore International Arbitration Centre. The Honble Supreme Court cancelled the
UAS licenses issued to all the companies in 2008 by questioning the government policy and Telenor also did a detailed due diligence prior
to investment in Unitech Wireless Companies. Based on the legal advice obtained by the management, the Company is condent that the
indemnity claims of Telenor are not maintainable.
Further post cancellation of telecom licences issued to Unitech Wireless companies, the Company has executed the settlement and mutual
release agreement with Telenor on 10th October, 2012 which provides for transfer of entire 32.75% stake in Unitech Wireless Companies to
Telenor nominated entity for a nominal amount and withdrawal of all disputes between the parties, on fulllment of certain conditions which
are yet to be fullled on the reporting date. Accordingly, Telenor will withdraw the aforesaid indemnity claim on fulllment of these conditions,
and in case these conditions are not met, the settlement and mutual release agreement will get terminated and all rights and obligations of
the parties will be restored to the situation before the said agreement.
c) Income tax disputed demands 10,712,699,376* (previous year 831,377,136)
*Vide notice u/s 226(3) of the Income tax Act, 1961 dated 06.02.2013, 2,237,030 equity shares of Carnoustie Management Pvt. Ltd. having
value of 3,100,545,000 and 1,000,000 equity shares of Shivalik Ventures Pvt. Ltd. having value of 10,000,000,000 held by the Company
are attached until further order.
d) Service tax disputed demands 68,092,616 (previous year 68,092,616)
e) Sales tax disputed demands 53,078,868 (previous year 43,170,000)
f) Excise matters in disputes 27,640,140 (previous year 22,382,000)
g) Work contract tax matters in disputes 2,642,000 (previous year 2,642,000)
h) A wholly owned subsidiary of the Company, on 15.05.2013, has received a demand pertaining to nancial year 2007-08 from income tax
department amounting to 2,335,871. The last date for depositing the same as per demand note is 15.06.2013. However, management
based on its evaluation has decided to contest the basis of such demand and accordingly does not intent to deposit the amount demanded.
II) Guarantees
a) Outstanding bank guarantees 4,160,705,104 (previous year 4,748,964,874)
b) Corporate guarantees 8,041,047,299 (previous year 6,519,900,000)
III) Commitments
a) Capital commitments 7,572,037,976 (previous year 8,957,041,588)
b) Bond cum legal undertaking 2,234,880,000 (previous year 2,234,880,000)
c) The Company received an arbitral award dated 6 July 2012 passed by the London Court of International Arbitration (LCIA) wherein the
th
arbitration tribunal has directed the Company to invest USD 298,382,949.34 equivalent to 16,218,605,211 in Burley Holdings Ltd.
(Mauritius) so as to enable it to purchase the investments of Cruz City 1 Mauritius Holdings (Mauritius) in the joint-venture Company, Kerrush
Investments Ltd (Mauritius). The High Court of Justice, Queens Bench Division, Commercial Court London has conrmed the said award.
Based on the legal advice received by it, the Company believes that the said award is not enforceable in India on various grounds including
but not limited to lack of jurisdiction by the LCIA appointed arbitral tribunal to pass the said award. Nevertheless, in case the Company is
required to make the aforesaid investment into Burley Holdings Limited, its economic interest in the SRA project in Santacruz Mumbai shall
stand increased proportionately thereby creating a substantial asset for the Company with an immense development potential.
d) The Company and its afliates have invested 6,382,586,848 for 32.75% equity stake in Unitech Wireless Companies (i.e. direct equity
holding of 6.76% and indirect equity holding through economic interest of 25.99% nanced by way of compulsorily convertible debentures
which entitles right to acquire the equity shares of afliate companies) by undertaking the long-term debts/obligations. Further, the Company
(including its subsidiaries/afliates/nominees) has a contractual investment obligation in future of 9,239,467,835 in an afliate Company
holding stake in Unitech Wireless Companies.
As on the reporting date, Unitech Wireless Companies are not carrying any telecom operation business pursuant to the cancellation of
their telecom licenses by the Honble Supreme Court of India and non-participation by these companies in the recent spectrum auctions
of the Department of Telecommunications (DoT). Further, post cancellation of telecom licences issued to Unitech Wireless companies, the
Company has executed the settlement and mutual release agreement with Telenor Asia Pte Ltd. on 10th October, 2012 which provides for
transfer of entire 32.75% stake in Unitech Wireless Companies to Telenor nominated entity for a nominal amount and withdrawal of all
disputes between the parties, on fulllment of certain conditions which are yet to be fullled on the reporting date. Accordingly, Telenor
will withdraw the aforesaid indemnity claim on fulllment of these conditions, and in case these conditions are not met, the settlement
and mutual release agreement will get terminated and all rights and obligations of the parties will be restored to the situation before the
said agreement.
In view of the above fact, the Company has created a provision for diminution in the value of its direct investment of 345,000,000 and
through its subsidiary as its indirect investment of 455,645,000 in Unitech Wireless Companies considering it to be other than temporary

during the nancial year under review. Also the Company through its subsidiary booked a loss of 234,599,999 on its indirect investment in
Unitech Wireless Companies.
The management is not currently in a position to ascertain how and in which group Company the aforesaid obligation if at all, is likely to
devolve.
46 a) Investment in shares of subsidiaries/ultimate subsidiaries amounting to 33,270,600 (Previous year 33,270,600 ) are pledged as securities
against loan taken by the Company and its subsidiary.
b) Investment in shares of joint ventures amounting to 72,750,000 (Previous year 72,750,000) pledged as securities against loan taken by the
Company and its joint venture.
c) Investment of subsidiaries consolidated above, in the shares of their joint ventures amounting to 780,737,210/-(Previous year NIL) are
pledged as securities against loan taken by the Company.
d) Investment of the subsidiary consolidated above, in the shares of their associate amounting to 245,000/-(Previous year NIL) is pledged as
security against loan taken by the Company.
e) Investment of subsidiaries consolidated above, in the shares of their joint ventures amounting to 655,603,990/-(Previous year NIL) are
pledged as securities against loan taken by the said joint ventures.
f) Investment of the subsidiary consolidated above, in the shares of its subsidiary amounting to 44,381,475/-(Previous year NIL) is pledged as
security against loan taken by its subsidiary.
47 TRADE PAYABLES (DUE TO MICRO, SMALL AND MEDIUM SCALE ENTERPRISES)

The Company has amounts due to suppliers registered under The Micro, Small and Medium Enterprises Development Act, 2006 as at 31st March
2013. The disclosure pursuant to the said Act is as under:
(Amount in )
Particulars As at 31.03.2013 As at 31.03.2012
Principal amount due to suppliers under MSMED Act 69,699,746 51,108,621
Interest accrued and due to suppliers under MSMED Act on the above amount 313,638 571,096
Payment made to suppliers(other than interest) beyond appointed day during the year 68,794,302 18,883,821
Interest paid to suppliers under MSMED Act - -
Interest due and payable to suppliers under MSMED Act towards payments already made 1,008,875 226,512
Interest accrued and remaining unpaid at the end of the accounting year 2,120,122 797,608
Note: This information is required to be disclosed under The Micro, Small and Medium Enterprises Development Act, 2006 and has been
determined to the extent such parties have been identied on the basis of information available with the Company.
48 a) Unitech Vizag Projects Limited (UVPL), a subsidiary of Unitech Limited, is undertaking an Integrated Vizag Knowledge City with APIIC at Vizag
for which money has been advanced by the holding Company i.e. Unitech Limited. The Company got the letter from APIIC for rescinding the
development agreement against which petition has been led under section 9 of The Arbitration and Conciliation Act 1996 in The court of the
Honble II Additional Chief Judge, City Civil Court at Hyderabad to stay the operation of the said letter and restraining the APIIC from creating
any third party rights with regard to project or project land. The Company and UVPL have already invoked the arbitration clause and appointed
an arbitrator by their letters dated 27th May2011. APIIC is yet to nominate its arbitrator. After considering the circumstances and legal advice
obtained by the management, the Company is condent that this will not adversely affect the Companys investment and accordingly no provision
has been considered necessary.
b) The Company was awarded a project for development of amusement cum theme park in Chandigarh by Chandigarh administration. The said
development agreement was unilaterally and illegally terminated by the Chandigarh administration. The Company led a writ petition before
Honble High Court of Punjab & Haryana challenging the termination of development agreement. The matter was referred for arbitration and
the hearing is going on. The Company is condent that it will recover the amount invested in the project and accordingly no provision has been
considered necessary.
49 Advances for purchase of land, projects pending commencement and to joint ventures and collaborators amounting to 9,248,788,996 (previous
year - 16,074,305,962) included under the head short term loans and advances in Note 21 have been given in the normal course of business
to land owning companies, collaborators, projects or for purchase of land. The management of the Company based on the internal assessment
and evaluations considers that these advances, which are in the normal course of business are recoverable/ adjustable and that no provision is
necessary as at Balance Sheet date. Further signicant portion has been adjusted/ recovered during the current nancial year and the management
is condent of recovering/ appropriately adjusting the balance.

87 88
50 The following subsidiaries / joint ventures / associates have been considered on unaudited basis. Details for the same as per individual entitys
nancials are as under:
(Amount in )
Particulars Total Assets as at Total revenue for Net increase /

31.03.2013 the year ended (decrease) in cash
31.03.2013 & cash equivalent
during 2012-2013
(i) Subsidiaries
Unitech Ardent Projects Pvt. Ltd. 297,337,649 117,475,781 896,128
Alor Recreation Pvt. Ltd. 1,653,386 2,621,444 230,736
Gurgaon Recreation Park Ltd. 2,094,134,926 174,342,749 1,373,423
Unitech Hospitality Ltd. 17,482,877 49,905,178 1,587,642
Unitech Hospitality Services Ltd. 466,353,792 5,633,182 122,683
Unitech Infra Ltd. 2,940,312,131 672,231,419 35,634,266
Unitech Libya for General Contracting and Real Estate Investment 4,754,047 - (1,301,601)
Burley Holding Limited 276,642 - -
Unitech Overseas Limited 711,985,151 - 6,087,397
Unitech Hotels Limited 3,538,875,268 - -
Unitech Malls Limited 163,532,300 - -
Total (A) 10,236,698,169 1,022,209,753 44,630,674
(ii) Joint Ventures (Only own share)

Elmvale Holding Limited 2,328,874,259 - (990)
International Recreation Parks Pvt. Ltd. 3,887,630,564 838,120,960 (7,725,116)
Kerrush Investments Limited 2,329,850,567 - (598,764)
MNT Buildcon Private Limited 574,806,553 - 2,818,900
North Town Estates Pvt. Ltd. 1,197,952,654 362,844,336 19,889,422
S. B. Developers Ltd. 80,255,432 40,026,662 11,877,397
Sarvmangalam Builders & Developers Pvt. Ltd. 48,671,490 43,970,889 3,968,537
Seaview Developers Ltd. 2,366,669,831 310,072,509 56,977,080
Shantiniketan Properties Ltd 1,769,644,708 80,336,149 6,444,603
Shivalik Ventures City Developers Pvt. Ltd. 830,945,532 - 514,033
Shivalik Ventures Pvt. Ltd. 10,745,263,971 60,234,218 29,595,710
SVS Buildcon Private Limited 1,220,607,893 156,860,302 3,057,662
Unitech Amusement Parks Ltd. 1,219,729,784 334,132,526 (4,557,766)
Unitech Developers and Projects Ltd. 5,835,663,576 906,864,216 191,822,028
Unitech Hi-Tech Structures Ltd. 2,581,438,508 438,029,316 22,032,380
Unitech Infra-Con Ltd. 839,342,843 90,827,090 5,926,094
Unitech LG Construction Co. Ltd. (AOP) 36,950,947 344,939 534,345
Unitech Realty Projects Ltd. 1,271,730,841 38,337,595 (6,182,813)
Unitech SAI Private Limited 532,612,237 8,600,075 6,757,036
Unitech Valdel Valmark Pvt. Ltd. 407,271,397 64,500 (862,779)
Unival Estates India LLP 85,245,022 - (26,048)
Unival Willows Estate Pvt. Ltd. 274,522,619 - (3,750,177)
Total (B) 40,465,681,228 3,709,666,282 338,510,774
Grand Total (A+B) 50,702,379,397 4,731,876,035 383,141,448

(iii) Associates Prot for the year ended March 31, 2013
(Only own share)
Millennium Plaza Ltd. 10,485,604
Unitech Shivalik Realty Ltd. (4,056)
Greenwood Hospitality Private Limited (4,485,661)
Total 5,995,887
51 (a) The Company has certain outstanding delays as at Balance Sheet date with respect to long term loans from banks and term loans from nancial
institutions which are as follows:
The amount with respect to loan from banks of principal and interest respectively for the period 1-90 days is 403,351,854 (previous year-
1,188,774,995) and 83,908,394(previous year- 319,649,882), for 91-180 days is NIL(previous year- 12,430,157) and NIL(previous year-
NIL). Further in respect of term loans from nancial institutions with respect to principal and interest respectively are 496,998,047(previous year-
519,794,201)and 422,199,571 (previous year- 108,346,076) for 1-90 days, 125,073,170 (previous year- 304,679,040)and 45,175,108
(previous year- 140,028,329) for 91-180 days, 146,000,000 (previous year- 146,000,000)and 95,929,579 (previous year- 91,003,756) for
the period 181-364 days and for 365 to 756 days being 365,000,000 (previous year- NIL) and 122,023,463 (previous year- NIL).
(b) The Company has certain outstanding delays as at Balance Sheet date with respect to short term loans from banks which are as follows:
The amount with respect to loan from bank of principal and interest respectively for the period 1-90 days is NIL (previous year- NIL) and
21,502,154 (previous year- NIL).
52 PREVIOUS YEAR FIGURES

Prior year gures have been regrouped, rearranged and reclassied wherever considered necessary.
For Goel Garg & Co.
FRN: 000397N
Partner


89 90
Standalone
Financial
Statements
Your best work is your

expression of yourself.
STANDALONE
TO THE MEMBERS OF UNITECH LIMITED and for purchase of land. Although signicant portion has been
adjusted / recovered during the current nancial year, considering
Report on the nancial statements
that the remaining balances as at balance sheet date are outstanding
We have audited the accompanying nancial statements of UNITECH / unadjusted for long periods of time, we are unable to ascertain
LIMITED (the Company), which comprise the Balance Sheet as at whether all of the remaining balances as at balance sheet date are
31st March, 2013, the Statement of Prot and Loss and the Cash Flow fully recoverable. Accordingly, we are unable to ascertain the impact,
Statement for the year then ended and a summary of the signicant if any, that may arise in case any of these remaining advances are
accounting policies and other explanatory information. subsequently determined to be doubtful of recovery.
MANAGEMENTS RESPONSIBILITY FOR THE FINANCIAL STATEMENTS QUALIFIED OPINION
The Management is responsible for the preparation of these nancial In our opinion and to the best of our information and according to the
statements that give a true and fair view of the nancial position, explanations given to us, except for the possible effects of the matter
nancial performance and cash ows of the Company in accordance described in the Basis for Qualied Opinion paragraph, the aforesaid
with the accounting standards referred to in Section 211(3C) of the nancial statements give the information required by the Act in the
Companies Act, 1956 (the Act). This responsibility includes the manner so required and give a true and fair view in conformity with the
design, implementation and maintenance of internal controls relevant accounting principles generally accepted in India:
to the preparation and presentation of the nancial statements that (a) in the case of the Balance Sheet, of the state of affairs of the
give a true and fair view and are free from material misstatements, Company as at 31st March, 2013;
whether due to fraud or error.
(b) in the case of the Statement of Prot and Loss, of the prot of
the Company for the year ended on that date and
AUDITORS RESPONSIBILITY (c) in the case of the Cash Flow Statement, of the cash ows of
Our responsibility is to express an opinion on these nancial the Company for the year ended on that date.
statements based on our audit. We conducted our audit in accordance
with the Standards on Auditing issued by the Institute of Chartered
Accountants of India. Those Standards require that we comply with EMPHASIS OF MATTER
the ethical requirements and plan and perform the audit to obtain (i) We draw attention to Note 47 to the nancial statements,
reasonable assurance about whether the nancial statements are wherein no adjustments have been considered necessary
free from material misstatements. for recoverability of balance of short term loans aggregating
An audit involves performing procedures to obtain audit evidence to 3,674,531,405 (previous year 3,013,863,597) and
about the amounts and the disclosures in the nancial statements. investments in share capital/projects aggregating to
The procedures selected depend on the auditors judgment, including 273,980,098 (Previous year 270,079,306) as the matters
the assessment of the risks of material misstatement of the nancial are sub-judice and the impact, if any, is unascertainable at this
statements, whether due to fraud or error. In making those risk stage. Our opinion is not qualied in respect of this matter;
assessments, the auditor considers internal controls relevant to the (ii) We draw attention to Note 49 to the nancial statements, in
Companys preparation and fair presentation of the nancial statements respect of investment in Unitech wireless companies, related
in order to design audit procedures that are appropriate in the settlement and future contractual investment obligation. As
circumstances. An audit also includes evaluating the appropriateness explained to us, the management is not currently in a position
of the accounting policies used and the reasonableness of the to ascertain how and in which group Company the aforesaid
accounting estimates made by the Management, as well as evaluating obligation is likely to devolve and thus, the consequent impact,
the overall presentation of the nancial statements. We believe that if any, on the nancial statements in future of the Company or
the audit evidence we have obtained is sufcient and appropriate to subsidiaries / afliates / nominees as the case may be, is
provide a basis for our qualied audit opinion. currently not ascertainable. Further, in the event of settlement
not going through between the Company and Telenor Asia
Pte. Ltd. as explained in note 49 to nancial statements, the
BASIS FOR QUALIFIED OPINION impact, if any, on the nancial statements is also currently not
ascertainable. Our opinion is not qualied in respect of this
Reference is invited to Note 48 to the nancial statements according to
matter.
which an amount of 9,248,788,996 (previous year 16,074,305,962)
is outstanding in respect of advances for purchase of land, projects
pending commencement, joint ventures and collaborators which,
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
as represented by the management, have been given in the normal
course of business to land owning companies, collaborators, projects 1. As required by the Companies (Auditors Report) Order, 2003

91 92
STANDALONE
(the Order) issued by the Central Government in terms (e) On the basis of the written representations received
of Section 227(4A) of the Act, we give in the Annexure a from the directors as on 31st March, 2013 and taken on
statement on the matters specied in paragraphs 4 and 5 of record by the Board of Directors, none of the directors
the Order. is disqualied as on 31st March, 2013 from being
appointed as a director in terms of Section 274(1)(g) of
2. As required by Section 227(3) of the Act, we report that:
the Act.
(a) We have obtained all the information and explanations
(f) Since the Central Government has neither issued any
which to the best of our knowledge and belief were
notication as to the rate at which the cess is to be paid
necessary for the purposes of our audit.
under Section 441A of the Act nor has it issued any
(b) In our opinion proper books of account as required Rules under the said Section prescribing the manner
by law have been kept by the Company so far as it in which such cess is to be paid, no cess is due and
appears from our examination of those books and payable by the Company.
proper returns adequate for the purposes of our audit
have been received from the branches not visited by For Goel Garg & Co.
us. Chartered Accountants
(Firm Registration No. 000397 N)
(c) The Balance Sheet, the Statement of Prot and Loss
and the Cash Flow Statement dealt with by this Report
are in agreement with the books of account and with
the returns received from the branches not visited by
us.
Partner
(d) In our opinion, the Balance Sheet, the Statement of (Membership No. 084600)
Prot and Loss and the Cash Flow Statement comply
with the Accounting Standards referred to in Section Place: Gurgaon
211(3C) of the Act. Dated: 30th May, 2013

ANNEXURE TO THE AUDITORS REPORT
STANDALONE
ANNEXURE TO THE AUDITORS REPORT (iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
(Referred to in paragraph 1 of report on other legal and regulatory
commensurate with the size of the Company and nature of its
requirements of the auditors report of even date to the members of
business with regard to purchases of inventory, xed assets and
Unitech Limited on the nancial statements for the year ended 31st
for the sale of goods and services. During the course of our audit,
March, 2013)
we have not observed any continuing failure to correct major
In terms of information and explanations given to us and the books weaknesses in internal control system of the Company.
and records examined by us, we report that:
(v) (a) According to the information and explanations given to us,
(i) In respect of its xed assets: we are of the opinion that the particulars of all contracts
or arrangements that need to be entered into the register
(a) The Company has maintained proper records showing full
maintained under Section 301 of the Act, have been so
particulars including quantitative details and situation of
entered.
xed assets.
(b) None of the transactions made in pursuance of such
(b) The xed assets are physically veried by the management
contracts or arrangements exceed the value of Rupees ve
according to a phased programme designed to cover all the
items over a period of three years which in our opinion is lakh in respect of any one such party in the nancial year.
reasonable having regard to the size of the Company and the (vi) In our opinion and according to the information and explanations
nature of its assets. Pursuant to this programme, certain given to us, the Company has generally complied with the
xed assets were physically veried by the management provisions of Sections 58-A & 58-AA and other relevant
during the year and as informed, discrepancies identied provisions of the Act and the Companies (Acceptance of
on such verication have been properly dealt with in the Deposits) Rules, 1975 with regard to the deposits accepted from
books of account. the public. However, the mandatory investments fell short of
(c) Fixed assets disposed off during the year were not substantial the prescribed requirement as per Rule 3A of The Companies
and therefore, do not affect the going concern assumption. (Acceptance of Deposit) Rules, 1975 during the year and there
were some delays during the year in repayment of matured and
(ii) In respect of its inventories: claimed xed deposits accepted under section 58 A of the Act.
(a) The inventories have been physical veried during the However, as per information and explanations given to us, the
year by the management. In our opinion, the frequency of Company has adhered to the prescribed requirements as per
verication is reasonable. Rule 3A, with respect to mandatory investments during the year,
by 31st December, 2012. Further, there was no outstanding
(b) In our opinion and according to the information and delay in repayment of deposits matured and claimed after 31st
explanations given to us, the procedures of physical December, 2012.
verication of inventories followed by the management
are reasonable and adequate in relation to the size of the Further, according to the information and explanations given
Company and the nature of its business. to us, no order has been passed by the Company Law Board
or National Company Law Tribunal or Reserve Bank of India or
(c) In our opinion, the Company is maintaining proper records any court or any other Tribunal, on the Company with respect to
of inventory. The discrepancies noticed on physical deposits accepted.
verication of inventory as compared to the book records
were not material. (vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(iii) The Company has not granted any loans secured or unsecured
to companies, rms or the other parties covered in the register (viii) We have broadly reviewed the books of account maintained
maintained under section 301 of the Act. Therefore, the provisions by the Company pursuant to the rules made by the central
of paragraph 4(iii)(b), (c) & (d) are not applicable. During the year government for the maintenance of cost records under section
the Company has taken unsecured loan from three companies 209(1)(d) of the Companies Act 1956 and are of the opinion
covered in the register maintained under section 301 of the that prima facie, the prescribed accounts and records have been
Companies Act, 1956. The maximum amount involved during made and maintained. We have, however not made a detailed
the year was 769,125,072 and the year end balance of loan examination of the records with a view to determine whether they
taken was 329,103,497. In our opinion, the rate of interest and are accurate or complete.
other terms and conditions on which loans have been taken from
(ix) In our opinion and according to the information and explanations
companies, listed in the register maintained under section 301
given to us in respect of statutory dues:
of the Companies Act, 1956 are not prima facie, prejudicial to
the interest of the Company. Further, the Company is regular (a) Undisputed statutory dues including provident fund,
in repaying the principal amounts as stipulated and has been investor education and protection fund, employees state
regular in the payment of interest. insurance, sales tax, wealth tax, custom duty, excise duty,

93 94
ANNEXURE TO THE AUDITORS REPORT
STANDALONE
cess have been regularly deposited with the appropriate (xv) The Company has given corporate guarantees for loans taken
authorities. However, income tax and service tax dues have by its subsidiaries and associates from banks and nancial
not generally been regularly deposited with the appropriate institutions. The terms and other conditions, in our opinion,
authorities though the delays in deposit have not been are not prima facie prejudicial to the interest of the Company
serious. considering Companys economic interest in such entities.
(b) According to the information and explanations given to us, (xvi) In our opinion and according to the information and explanations
no undisputed amounts payable in respect of provident given to us, the term loans raised during the year by the Company
fund, investor education and protection fund, employees have been generally applied for the purpose for which the said
state insurance, income-tax, wealth-tax, service tax, sales- loans were obtained and for overall project related activity in
tax, customs duty, excise duty, cess and other undisputed general.
statutory dues were outstanding, at the year end, for a
period of more than six months from the date they became (xvii) According to the information and explanations given to us and
payable. on an overall examination of Balance Sheet of the Company, we
report that no funds raised on short term basis have been used
(c) The following dues have not been deposited by the
for long term investment.
Company on account of disputes, since the appeals are
pending before the relevant authorities: (xviii) During the year, the Company has not made any preferential
Name of the Statute Nature of dues Financial year Amount ( ) Forum where dispute is pending
Income Tax Act, 1961 Income tax matter under dispute 2004-05 7,363,246 Commissioner of Income Tax (appeals)
Income Tax Act, 1961 Income tax matter under dispute 2007-08 140,069,833 Income tax appellate tribunal
The Finance Act, 1994 Service tax demand 01-12-2005 8,554,085 Commissioner, Central Excise (Adj.) New Delhi
(service Tax) to 31-07-2007 and Honble Delhi High Court, Delhi
Income Tax Act, 1961 Income tax matter under dispute 2008-09 9,875,410,334 Commissioner of Income Tax (appeals)
(also refer note 40(I)(d) to the nancial statements)
allotment of shares to parties and companies covered in the

(x) The Company does not have any accumulated losses at the end
register maintained under section 301 of the Companies Act,
of the nancial year and has not incurred cash losses in the
nancial year and in the immediately preceding nancial year. 1956.
(xi) On the basis of audit procedures performed by us and according (xix) According to information and explanations given to us, during the
to the information, explanation and representations given to year covered by our audit report, the Company has not issued
us by the management, the matured debentures which were any debentures.
outstanding as at previous balance sheet date and as also (xx) The Company has not raised any money by way of public Issue
mentioned in our report of previous nancial year, have been during the year.
duly rescheduled and restructured during the year. Further,
the Company has outstanding delays as at balance sheet (xxi) According to the information and explanations given to us, no
date in repayment of dues (including interest) to banks and fraud on or by the Company has been noticed or reported during
nancial institutions of amounts given and as explained in the course of our audit.
note 4 to the nancial statements. The Company also has
outstanding delays as at balance sheet date in repayment of
dues (including interest) to debenture holders aggregating to
218,941,289 and delays ranging from 1 day to 351 days. For Goel Garg & Co.,
(xii) The Company has not granted any loans and advances on the Chartered Accountants
basis of security by way of pledge of shares, debentures and FRN : 000397N
other securities. Accordingly Paragraph 4 (xii) of the Order is not
applicable.
(xiii) In our opinion, the Company is not a Chit Fund or a Nidhi / Mutual (Ashok Kumar Agarwal)
Benet Fund / Society. Accordingly, paragraph 4 (xiii) of the Partner
Order, is not applicable.
Membership Number : 084600
(xiv) The Company is not dealing in or trading in shares, securities,
debentures and other investments. Accordingly, paragraph 4 Place: Gurgaon
(xiv) of the Order is not applicable. Dated: 30th May, 2013

BALANCE SHEET
AS AT 31ST MARCH, 2013 STANDALONE
Notes 31.03.2013 31.03.2012
EQUITY AND LIABILITIES

Shareholders funds
Share capital 2 5,232,602,094 5,232,602,094
Reserve and surplus 3 92,676,875,309 91,157,271,383
97,909,477,403 96,389,873,477
Non-current liabilities
Long-term borrowings 4 14,685,126,405 12,718,795,071
Other long term liabilities 5 4,936,642,813 6,722,656,887
Long-term provisions 6 187,163,321 164,901,408
19,808,932,539 19,606,353,366
Current liabilities
Short-term borrowings 7 10,411,924,095 12,439,683,335
Trade payables 8 7,461,941,475 3,658,811,518
Other current liabilities 9 33,781,618,390 34,640,774,723
Short-term provisions 10 36,901,405 1,069,686,882
51,692,385,365 51,808,956,458
Total 169,410,795,307 167,805,183,301
ASSETS
Non-current assets
Fixed assets
Tangible assets 11 666,858,995 636,543,000
Capital work-in-progress 273,580,285 180,338,662
Intangible assets under development 82,549,113 69,386,294
Non-current investments 12 28,580,549,330 24,248,095,099
Deferred tax assets (net) 13 308,388,166 42,038,236
Long-term loans and advances 14 1,162,629,155 1,021,496,066
31,074,555,044 26,197,897,357
Current assets
Current investments 15 202,505,631 -
Inventories 16 11,318,107,675 11,702,002,319
Trade receivables 17 12,386,609,779 16,225,710,391
Cash and bank balances 18 1,603,990,459 1,581,002,065
Short-term loans and advances 19 72,824,458,123 83,424,675,216
Other current assets 20 40,000,568,596 28,673,895,953
138,336,240,263 141,607,285,944
Total 169,410,795,307 167,805,183,301
Signicant accounting policies 1 (0) 0.14
The accompanying notes are integral part of the nancial statements.

For Goel Garg & Co.
FRN: 000397N
Partner


95 96
STATEMENT OF PROFIT AND LOSS
FOR THE YEAR ENDED 31ST MARCH, 2013 STANDALONE
Notes 31.03.2013 31.03.2012
INCOME
Revenue from operations 21 10,530,914,783 12,879,110,611
Other income 22 4,733,522,344 4,886,803,970
Total revenue 15,264,437,127 17,765,914,581
EXPENSES
Changes in inventories of nished properties,land, land development rights and 23 41,186,999 24,544,467
work in progress
Job and construction expenses 24 23,647,933 14,723,895
Real estate project expenditure 25 7,147,780,466 8,272,307,491
Employee benets expense 26 1,400,231,747 1,285,167,969
Borrowing costs 27 3,043,866,158 2,799,351,237
Depreciation and amortization expense 28 55,977,216 67,759,639
Other expenses 29 887,819,498 709,390,175
Total expenses 12,600,510,017 13,173,244,873
Prot before prior period,exceptional items and tax 2,663,927,110 4,592,669,708

Prior period and exceptional items 30 - 1,581,533
Prot before extraordinary items and tax 2,663,927,110 4,591,088,175
Extraordinary Items 31 345,000,000 -
Prot before tax 2,318,927,110 4,591,088,175
Tax expense
Current tax 980,334,030 1,350,455,000
Earlier year tax/Excess provision for tax written back 85,186,216 (2,836,794)
Deferred tax charge/(credit) 13 (266,349,931) (23,643,832)
Total tax expenses 799,170,315 1,323,974,374
Prot for the year 1,519,756,795 3,267,113,801
Earnings per equity share 38

Earnings per equity share of face value of 2 each (excluding extraordinary items)
Basic 0.71 1.25
Diluted 0.71 1.25
Earnings per equity share of face value of 2 each (including extraordinary items)
Basic 0.58 1.25
Diluted 0.58 1.25

For Goel Garg & Co.
FRN: 000397N
Partner


CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH,2013 STANDALONE
31.03.2013 31.03.2012
Cash ow from operating activities

Prot before tax 2,663,927,110 4,591,088,175
Adjustments for
Depreciation & amortization 55,977,216 67,759,639
Dividend income (5,892,192) (41,705,381)
Interest income (4,259,276,320) (3,953,255,864)
Borrowing cost 3,043,866,158 2,799,351,237
(Prot) / loss on sale of xed capital assets 147,783 (489,419,996)
Provision for doubtful debts/balance written off 41,861,466 -
Provision for Diminution in value of Investment/ investment written off - 17,200,500
Adjustment in Depreciation for earlier years (21,529,654) -
Foreign Currency Translation Reserve (152,869) -
Loss on sale of real estate investment 310,000,000 -
Fixed Assets written off - 8,179,795
Provisions written back - (16,199,999)
Operating prot before working capital changes 1,856,013,327 3,018,158,190
Adjustments for:
Trade and other receivables 1,786,164,053 4,016,648,593
Inventories 383,894,644 829,677,847
Trade and other payable 3,703,873,763 2,693,045,303
Cash generated from operations 7,729,945,786 10,557,529,933
Tax paid (2,103,128,439) (1,308,504,079)
Net cash ow from operating activities (A) 5,626,817,347 9,249,025,854
Cash ow from investing activities

Purchase of xed assets (173,935,893) (71,911,731)
Sale of xed assets 2,620,111 816,690,959
Purchase of investments (506,185,814) (3,732,949,265)
Sale of investments 1,073,938,440 47,127,683
Investment in bank deposits (having maturity of more than three months) (62,910,655) (65,087,580)
Interest received 4,313,715,619 3,929,068,769
Dividend received 5,892,192 41,705,381
Net cash ow from investing activities (B) 4,653,133,999 964,644,216
Cash ow from nancing activities

Proceeds/ (Repayments) of Borrowings (4,020,643,961) (5,240,216,442)
Borrowing Cost Paid (6,298,651,127) (6,078,573,987)
Dividend and dividend tax paid - -
Net cash ow from nancing activities (C) (10,319,295,088) (11,318,790,429)
Net change in cash and cash equivalents (A+B+C) (39,343,742) (1,105,120,359)

Cash and cash equivalent at the beginning of the year 684,981,273 1,790,101,632
Cash and cash equivalent at the end of the year 645,637,531 684,981,273
Components of cash and cash equivalents

Cash on hand 8,095,004 3,468,682
Balances with banks
- in current account 620,267,578 655,204,840
- in deposit account (with maturity of 3 months or less) 5,515,000 -
Total cash and cash equivalents 645,637,531 684,981,273
Signicant accounting policies Note 1 0 (0)

For Goel Garg & Co.
FRN: 000397N
Partner


97 98
NOTES TO THE FINANCIAL STATEMENTS
1. SIGNIFICANT ACCOUNTING POLICIES on initial recognition at cost. Following initial recognition,

intangible assets are carried at cost less accumulated
I. NATURE OF OPERATIONS
amortization and accumulated impairment losses, if any.
Unitech Limited (the Company) was incorporated in 1971 and Internally generated intangible assets, excluding capitalized
is a leading real estate developer in India. The Companys main development costs which meet capitalization criteria, are not
line of business is real estate development and related activities capitalized and expenditure is reected in the Statement of
including construction and consultancy services. Prot and Loss in the year in which the expenditure is incurred.
II. BASIS OF PREPARATION Cost of software is amortized over a period of 5 years, being the
The nancial statements have been prepared to comply in all estimated useful life as per the management estimates.
material respects with the notied Accounting Standards by the VI. IMPAIRMENT OF ASSETS
Companies (Accounting Standards) Rules, 2006 as amended from
Management at each Balance Sheet date assesses using
time to time and the relevant provisions of the Companies Act,
external and internal sources whether there is an indication that
1956 (The Act). The nancial statements have been prepared
an asset or group of assets or a cash generating unit as the case
in accordance with Revised Schedule VI requirements including
may be impaired. Impairment occurs where the carrying value
previous year comparatives. The nancial statements have been
prepared under historical cost convention on an accrual basis exceeds the higher of value in use represented by the present
in accordance with accounting principles generally accepted in value of future cash ows expected to arise from the continuing
India. The accounting policies have been consistently applied by use of the asset and its realizable value. The impairment loss is
the Company and are consistent with those used in previous year. charged off to Statement of Prot and Loss.
All assets and liabilities have been classied as current or non- VII. LEASE ACCOUNTING
current, wherever applicable as per the operating cycle of the Finance leases, which effectively transfer to the Company
Company as per the guidance note as set out in the Revised substantially all the risks and benets incidental to ownership
Schedule VI to the Companies Act, 1956. of the leased asset, are capitalized at the lower of the fair
III. USE OF ESTIMATES value and present value of the minimum lease payments at
the inception of the lease term and disclosed as leased assets.
The preparation of nancial statements in conformity with Lease payments are apportioned between the nance charges
generally accepted accounting principles require management and reduction of the lease liability based on the implicit rate of
to make estimates and assumptions that affect the reported return. Finance charges are recognized as borrowing costs in the
amounts of assets and liabilities and disclosure of contingent Statement of Prot and Loss.
liabilities at the date of the nancial statements and the result
of operations during the reporting period. Although these Leases where the lessor effectively retains substantially all the
estimates are based upon managements best knowledge risks and benets of ownership of the leased term, are classied
of current events and actions, actual results could differ from as operating leases. Operating lease payments are recognized
these estimates. Signicant estimates used by the management as an expense in the Statement of Prot and Loss on a straight-
in the preparation of these nancial statements include project line basis over the lease term unless there is a more systematic
revenue, project cost, saleable area, economic useful lives basis which is more representative of the time pattern of the
of xed assets, accrual of allowance for bad and doubtful lease expenses.
receivables, loans and advances and current and deferred taxes. VIII. INVESTMENTS
Any revision to accounting estimates is recognized prospectively
Long term investments are stated at cost. However, provision
in accordance with applicable Accounting Standards.
for diminution is made to recognise any decline, other than
IV. FIXED ASSETS AND DEPRECIATION temporary, in the value of long term investments.
Fixed assets are stated at cost (gross block) less accumulated Current investments are stated at the lower of cost and fair
depreciation and impairment losses, if any. Cost comprises, the value.
purchase price and any attributable cost of bringing the asset to
IX. INVENTORIES
its working condition for its intended use. It excludes refundable
taxes. Borrowing costs relating to acquisition of xed assets a) The cost of inventories comprises all cost of purchase,
which take substantial period of time to get ready for its intended cost of conversion and other costs incurred in bringing
use are also included to the extent they relate to the period till the inventories to their present location and condition.
such assets are ready to be put to use. Depreciation on xed Inventories are valued at cost or net realizable value,
assets is provided at the rates and in the manner prescribed whichever is lower on the basis of rst in rst out method.
in Schedule XIV of the Companies Act, 1956 on straight-line
b) Finished stock of completed real estate projects, land and
method. These rates in the opinion of the management reect
land development rights are valued at lower of cost or net
the economic useful life of the assets.
realizable value on the basis of actual identied units.
Fixtures and lease hold improvements installed in leased
X. PROJECTS IN PROGRESS
buildings are amortized over the initial period of lease.
Project in progress disclosed as at reporting date in respect of
V. INTANGIBLES AND AMORTIZATION
real estate development and related activities includes aggregate
Intangible assets are recognized when it is probable that future amount of costs and recognized prot (less recognized losses)
economic benets that are attributable to asset will ow to the up to the reporting date less advances received from customers.
Company and the cost of the asset can be measured reliably.
Project Costs include cost of land, land development rights,
Intangible assets (acquired or developed in house) are measured construction costs, job work, allocated borrowing costs and

other incidental costs that are attributable to project and such already commenced but where revenue is being
other costs as are specically chargeable to the customer. recognized for the rst time on or after April 1, 2012.
XI. BORROWING COST Revenue from real estate projects is recognized when all
signicant risks & rewards of ownership by way of a legally
Borrowing cost relating to acquisition/construction development
enforceable agreement to sale have been transferred
of qualifying assets of the Company are capitalized until the
to the buyer & subject to the satisfaction of contractual
time all substantial activities necessary to prepare the qualifying
conditions mentioned herein after which signify
assets for their intended use are complete. A qualifying asset is
transferring of signicant risks & rewards even though the
one that necessarily takes substantial period of time to get ready
legal title may not be transferred or the possession of the
for its intended use/sale. Borrowing cost that are attributable to
real estate may not be given to the buyer. Consequently,
the projects in progress and qualifying land advances as well as
any act on the real estate project performed by the
any capital work in progress are charged to respective qualifying
Company is, in substance on behalf of the buyer in the
asset . All other borrowing costs, not eligible for inventorisation /
manner similar to a contractor.
capitalization, are charged to revenue.
Accordingly, Revenue on real estate projects is recognized
XII. REVENUE RECOGNITION
on the percentage of completion method. (POC) of
A) Real Estate Projects accounting, when:-
Revenue from real estate under development/sale i. The outcome of the real estate project can be
of developed property is recognized upon transfer of estimated reliably;
all signicant risks and rewards of ownership of such
ii. It is probable that the economic benets associated
real estate/ property, as per the terms of the contracts
with the project will ow to the enterprise;
entered into with buyers, which generally coincides with
the rming of the sales contracts/ agreements, except iii. The project costs to complete the project and the
for contracts where the Company still has obligations stage of project completion at the reporting date can
to perform substantial acts even after the transfer of be measured reliably;
all signicant risks and rewards. Accordingly, revenue is iv. The project costs attributable to the project can be
recognized on the following basis: clearly identied & measured reliably so that actual
a) Real estate projects undertaken up to 31st March, project costs incurred can be compared with prior
2004. estimates.
Revenue is recognized to estimate the prot @ 20% of Further, the Company recognizes revenue on (POC) on
actual receipts and installments fallen due during the completion of the following events:-
year towards booking of plots/constructed properties, i. All critical approvals necessary for commencement of
subject to nal adjustment, on the completion of the the project have been obtained including, wherever
respective project. applicable:- Environmental & other clearances,
b) Real estate projects undertaken on and after 1st April, approval of plans, designs etc., title to land or other
2004. rights of development / construction & change in land
use.
Revenue from real estate projects is recognized on
the percentage of completion method (POC) of ii. The expenditure incurred on construction &
accounting. development is not less than 25% of the construction
and development costs.
Revenue under the POC method is recognized on the
basis of percentage of actual costs incurred including iii. At least, 25% of the saleable project area is secured
construction and development cost of projects under by contracts or agreements with buyers.
execution and proportionate land subject to such actual iv. At least, 10% of the total revenue as per the
cost incurred being twenty percent or more of the total agreements of sale or any other legally enforceable
estimated cost of projects. document are realized at the reporting date in respect
The stage of completion under the POC method is of each of the contracts & it is reasonable to expect
measured on the basis of percentage that actual costs that the parties to such contracts will comply with the
incurred on real estate projects including construction payment terms as dened in the contracts.
and development cost and proportionate land bears to When it is probable that total costs will exceed total
the total estimated cost of the project. The estimates project revenue, the expected loss is recognized as an
including those of technical nature in respect of the expense immediately.
projected revenues, projected prots, projected costs,
cost of completion and the foreseeable loss are reviewed B) Construction contracts
periodically by the management and any effect of changes a) In construction contracts, income is recognized on
in estimates is recognized in the period such changes are percentage of completion method. The stage of
determined. Revenue is recognized by reference to the completion under the POC method is measured on
stage of completion as explained above attributed to the the basis of percentage that actual costs incurred on
work completed during the year. construction contracts to the total estimated cost of
the contract.
c) Real estate projects which have commenced on or
after April 1, 2012 and also to projects which have b) Revenue on account of contract variations, claims and

99 100
incentives are recognized upon settlement or when it reported during the period or previous periods in so far they
becomes reasonably certain that such variations, relate to the acquisition of depreciable capital asset is added to
claims and incentives are both measurable and or deducted from the cost of assets.
recoverable.
The nancial statement of an integral operation is translated
C) Sale of land and land development rights using the above principle and procedures. In translating the
nancial statement of a non-integral foreign operation for
Revenue from sale of land and development rights is
incorporation in its nancial statement, the following principles
recognized upon transfer of all signicant risks and
and procedures are followed:
rewards of ownership of such real estate/ property, as
per the terms of the contracts entered into with buyers, (a) The assets and liabilities, both monetary and non-
which generally coincides with the rming of the sales monetary, of the non-integral foreign operation are
contracts/ agreements. translated at the closing rate.
D) Sale of investment (b) Income and expense items of the non-integral foreign
operation are translated at exchange rates at the date of
Net sale proceeds of the investments held in subsidiaries,
the transactions.
joint ventures and associates developing real estate
projects are included in real estate revenue and is (c) All resulting exchange differences are accumulated in a
recognized on completion of sale of such investment. foreign currency translation reserve until the disposal of
the net investment.
E) Revenue from lease rentals and related income
XIV. TAXES ON INCOME
Lease income is recognized in the Statement of Prot
and Loss on straight line basis over the lease term Tax expense comprises both current and deferred tax.
unless there is another systematic basis which is more Current tax is measured at the amount expected to be paid to
representative of the time pattern of the lease. Revenue the tax authorities, using the applicable tax rates and tax laws
from lease rental is disclosed net of indirect taxes, if any. that are enacted or substantially enacted.
F) Consultancy income Deferred tax is recognized on timing differences, being the
Consultancy income is recognized on accrual basis based differences between the taxable income and the accounting
on contractual terms on the performance of such services. income that originate in one period and are capable of reversal
Revenue is recognized proportionately by reference to the in one or more subsequent periods. Deferred tax assets, subject
performance of acts dened contractually. The revenue to consideration of prudence, are recognized and carried
recognized is determined on the basis of contract value, forward only to the extent that there is a reasonable certainty
associated costs, number of acts or other suitable basis. that sufcient future taxable income will be available against
which such deferred tax assets can be realized. The tax effect
G) Interest income
is calculated on the accumulated timing difference at the year-
Interest income is recognized only when no signicant end based on the tax rates and laws enacted or substantially
uncertainty as to measurability or collectability exists. enacted on the Balance Sheet date. In situations where the
Income is recognized on a time proportion basis taking into Company has unabsorbed depreciation or carry forward tax
account the amount outstanding and the rate applicable. losses, all deferred tax assets are recognized only if there is
H) Dividend Income virtual certainty supported by convincing evidence that they can
be realized against future taxable prots. At each Balance Sheet
Dividend income is recognized when the right to receive date the Company re-assesses unrecognized deferred tax assets.
the same is established. It recognizes unrecognized deferred tax assets to the extent that
XIII. FOREIGN CURRENCY TRANSACTIONS it has become reasonably certain or virtually certain, as the case
may be, that sufcient future taxable income will be available
A foreign currency transaction is recorded, on initial recognition against which such deferred tax assets can be realized.
in the reporting currency, by applying to the foreign currency
amount the exchange rate between the reporting currency and XV. EMPLOYEE BENEFITS
the foreign currency at the date of the transaction. A. Short term employee benets:
Monetary items denominated in a foreign currency are reported The Company recognizes the undiscounted amount
using the closing rate or at the amount which is likely to be of short term employee benets expected to be paid in
realized from, or required to disburse such items at the Balance exchange for services rendered by employees as
Sheet date as the situation demands.
(i) a liability (accrued expense) after deducting any
Non-monetary items carried in term of historical cost amount already paid. Excess of amounts paid over
denominated in foreign currency, are reported using exchange liability incurred is treated as prepaid expenses; or
rate at the date of transaction.
(ii) an expense unless it is eligible to be charged to project
Exchange differences arising on the settlement of monetary items in progress or capital work in progress or xed asset
or on reporting an enterprises monetary items at rates different as the case may be.
from those at which they were initially recorded during the period,
B. Post-employment benets:
or reported in previous nancial statements, should be recognized
as income or as expenses in the period in which they arise. (i) Dened contribution plans
Exchange differences arising on reporting of long term monetary The Company, as per detail hereunder, operates
assets at rates different from those at which they were initially dened contribution plans pertaining to employees

state insurance scheme, government administered b) a probable outow of resources embodying economic
pension fund scheme and superannuation scheme benets will be required to settle the obligation; and
for eligible employees.
c) the amount of the obligation can be reliably estimated.
The above dened contribution plans are post-
Reimbursement expected in respect of expenditure required to
employment benet plans under which the Company pays
settle a provision is recognized only when it is virtually certain
xed contributions into separate entities (funds) or to
that the reimbursement will be received.
nancial institutions or state managed benet schemes.
The Companys contribution to dened contribution plans Contingent liability is disclosed in the case of:
are recognized in the Statement of Prot and Loss in the a) a present obligation arising from a past event, when it
nancial year to which they relate. is not probable that an outow of resources embodying
(a) Employees state insurance/ pension fund scheme: economic benets will be required to settle the obligation;
The Company makes specied monthly contribution b) a possible obligation, that arises out of past events and
towards employees state insurance scheme and the existence of which will be conrmed only by one or
government administrated pension fund scheme more uncertain future events unless the probability of
(b) Superannuation insurance plan: outow of resources is remote.
The Company has taken group superannuation Contingent assets are neither recognized nor disclosed.
policy with Life Insurance Corporation of India for However, when realization of income is virtually certain, related
superannuation payable to the eligible employees. asset is recognized.
ii) Dened benet obligations XVII. CASH & CASH EQUIVALENTS
The cost of providing benets i.e. gratuity and leave Cash and cash equivalents for the purposes of cash ow
encashment is determined using the projected unit credit statement comprise cash at bank and in hand and short-term
method, with actuarial valuations carried out annually as investments with an original maturity of three months or less.
at the Balance Sheet date. Actuarial gains and losses are Cash ow statement is prepared using the indirect method.
recognized immediately in the Statement of Prot and XVIII. EARNINGS PER SHARE
Loss. The fair value of the plan assets is reduced from
the gross obligation under the dened benet plan, to Basic earnings per share is calculated by dividing the net prot
recognize the obligation on net basis. Past service cost or loss for the period attributable to equity shareholders by the
is recognized as expense on a straight-line basis over the weighted average number of equity shares outstanding during
average period until the benets become vested. the period. The weighted average numbers of equity shares
outstanding during the period are adjusted for events of bonus
Provident fund contributions are made to the Companys issue, a share split and share warrants conversion.
provident fund trust. Decits, if any, based on the actuarial
valuation performed on Balance Sheet date between the Diluted earnings per share is calculated by adjusting net prot
funds and estimated statutory or contractual obligation in or loss for the period attributable to equity shareholders and the
this regard is recognized as additional liability. weighted number of shares outstanding during the period for the
effect of all dilutive potential equity shares.
XVI. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT
ASSETS Further where the Statement of Prot and Loss includes
extraordinary items (within the meaning of AS 5, net prot and
Provisions are recognized in respect of liabilities which can be loss for the period, prior period items and changes in accounting
measured only by using a substantial degree of estimates when policies), the Company discloses basic and diluted earnings per
a) the Company has a present obligation as a result of a past share computed on the basis of earnings excluding extraordinary
event; items (net of tax expenses).

101 102
2. SHARE CAPITAL 31.03.2013 31.03.2012
Authorised
4,000,000,000 (4,000,000,000)Equity shares of 2 each 8,000,000,000 8,000,000,000
200,000,000 (200,000,000) Preference shares of 10 each 2,000,000,000 2,000,000,000
10,000,000,000 10,000,000,000
Issued, subscribed and fully paid-up
2,616,301,047 (2,616,301,047) Equity shares of 2 each 5,232,602,094 5,232,602,094
Total 5,232,602,094 5,232,602,094
Reconciliation of the paid up shares outstanding at the beginning and end of the reporting year
31.03.2013 31.03.2012
Number Number
At the beginning of the year 2,616,301,047 5,232,602,094 2,616,301,047 5,232,602,094
Add : Issued during the year - - - -
Outstanding at the end of the year 2,616,301,047 5,232,602,094 2,616,301,047 5,232,602,094
The total issued share capital comprises equity shares only, having face value of 2.00 per share, ranked pari passu in all respects including voting
rights and entitlement to dividend.
Detail of shareholder holding more than 5% shares
Name of shareholder 31.03.2013 31.03.2012
Number % held Number % held
Prakausali Investments (India) Pvt. Ltd. 563,679,623 21.54% 563,679,623 21.54%
Harsil Projects Private Limited 227,501,000 8.70% 227,501,000 8.70%
HSBC Global Investment Funds A/c HSBC Global Investment Funds 155,640,753 5.95% 182,190,342 6.96%
Mauritius Limited
Aggregate number and class of shares allotted as bonus shares during the period of ve years
31.03.2013 31.03.2012
Number of equity shares allotted as fully paid-up bonus shares by capitalisation of free reserves in Nil 811,687,500
September, 2007.
3. RESERVE AND SURPLUS 31.03.2013 31.03.2012
Securities Premium Reserve

Closing balance 52,813,234,413 52,813,234,413
Debenture Redemption Reserve

Less : Transfer to Statement of Prot and Loss - (700,000,000)
Closing balance 2,250,000,000 2,250,000,000
General Reserve
Closing balance 3,600,000,000 3,600,000,000
Foreign Currency Translation Reserve

As per last nancial statements - -
Additions (deductions) during the year (152,869) -
Closing balance (152,869) -
Surplus in the Statement of Prot and Loss

Add : Prot for the year 1,519,756,795 3,267,113,801

Contd. 31.03.2013 31.03.2012
Add : Transfer from debenture redemption reserve - 700,000,000

Add : Proposed dividend & dividend distribution tax written back on non approval in annual general meeting - 304,073,049
34,013,793,765 32,494,036,970
Total 92,676,875,309 91,157,271,383
4. LONG-TERM BORROWINGS Current maturities Non current portion

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Secured
Debentures (refer note 9) 390,000,000 - 1,940,014,496 -
Term loan
from banks 2,588,843,924 5,414,219,071 1,556,720,002 4,089,807,098
from nancial institutions 4,790,892,873 5,024,675,599 9,325,364,678 5,348,376,910
Finance lease obligations 14,449,504 972,574 31,788,119 1,070,063
7,784,186,301 10,439,867,244 12,853,887,295 9,439,254,071
Unsecured
Finance lease obligations 3,909,511 - 7,907,110 -
Deposits 3,128,228,000 2,161,085,000 1,823,332,000 3,279,541,000
3,132,137,511 2,161,085,000 1,831,239,110 3,279,541,000
Total 10,916,323,812 12,600,952,244 14,685,126,405 12,718,795,071

(i) The terms and securities of the above secured borrowing are given hereunder
Amount outstanding Interest rate Security and guarantee details Repayment terms
31.03.2013 31.03.2012
a) Debentures
Non - 2,330,014,496 2,666,601,964 12.00% Secured by way of registered mortgage of 90 units of 1,000,000
Convertible certain land of the Company and equitable each redeemable
Debentures* mortgage of certain lands of the Company / in eighteen monthly
(for previous certain subsidiary companies. Further, the Non installments of
year refer note convertible debentures has been guaranteed by 5,000,000 each starting
9) personal guarantee of the Managing Director of from15.04.2012 to
the Company (refer Note 9) 15.09.2013 and 660
units of 1,000,000 each
redeemable in eleven
of 60,000,000 each
from 15.10.2013 to
15.08.2014. 15000000
units of 100 each
redeemable in twenty
ve monthly installments
of 60,000,000 each
from 15.09.2014 to
15.09.2016. 120 units
of 1,000,000 each
redeemable in two
of 60,000,000 each
from 15.10.2016 to
15.11.2016 and 20
units of 1,000,000
each as last installment
of 20,014,496 on
15.12.2016

103 104
Contd. Amount outstanding Interest rate Security and guarantee details Repayment terms
31.03.2013 31.03.2012
b) Term loan from banks

Term loan 1,926,003,974 2,624,578,599 12.00%-16.25% Secured by way of equitable mortgage of Sixteen quarterly
land of subsidiary Company. Further, the loan Installments of
has been guaranteed by way of corporate 187,500,000 starting
guarantee given by subsidiary Company along from 21.12.2011
with personal guarantee of the Chairman and
Term loan 73,487,656 1,529,067,989 13.75%-16.50% Secured by way of equitable mortgage Thirty monthly
of certain land of the Company / certain installments starting from
subsidiary companies / collaborator and 15.04.2011
hypothecation of specic project receivables.
Further, the loan has been guaranteed by
way of corporate guarantee given by certain
subsidiary companies / collaborator along
Term loan 275,525,122 628,965,108 12.50%-14.75% Secured by way of equitable mortgage Thirty monthly
of certain land of the Company / certain installments starting from
subsidiary companies / collaborator and 15.09.2011
hypothecation of specic project receivables.
Further, the loan has been guaranteed by
way of corporate guarantee given by certain
subsidiary companies / collaborator along
Term loan 663,522,461 1,756,624,351 14.00%-15.00% Secured by way of equitable mortgage of Thirty monthly
certain land of the Company / subsidiary installments starting from
Company and hypothecation of specic 15.01.2012
project receivables. Further, the loan has been
guaranteed by way of corporate guarantee
given by subsidiary Company along with
personal guarantee of the Chairman and
Term loan - 414,000,000 14.25%-14.50% Secured by way of equitable mortgage Thirty four monthly
of certain land of the Company / certain installments - Twelve
subsidiary companies and hypothecation of monthly installments of
certain project receivables. Further, the loan 30,000,000, Twelve
has been guaranteed by way of personal monthly installments
guarantee of the Chairman of the Company. of 50,000,000 , Nine
of 64,000,000 and
Last installment of
30,000,000 starting
from 19.10.2009
Term loan - 500,000,000 11.50%-15.25% Secured by way of equitable mortgage Eight quarterly
of certain land of the Company / certain installments of
subsidiary companies and hypothecation of 250,000,000 starting
specic project receivables.Further, the loan from 30.09.2010.
has been guaranteed by way of personal
guarantee of the Chairman of the Company.
Term loan 957,024,714 1,875,997,496 11.00%-14.50% Secured by way of equitable mortgage Ten quarterly Installments
of certain land of the Company / certain of 260,000,000 starting
subsidiary companies and hypothecation of from 23.09.2011
specic project receivables. Further, the loan
has been guaranteed by way of corporate
guarantee given by certain subsidiary
companies along with personal guarantee of
the Chairman and Managing Directors of the
Company.

31.03.2013 31.03.2012
Term loan - 24,792,626 11.75%-14.75% Secured by way of equitable mortgage Sixty eight equal
of certain land of the collaborator and monthly installments of
hypothecation of specic project receivables. 6,617,647 starting from
Further, the loan has been guaranteed by 29.09.2006.
corporate guarantee given by subsidiary
Company and personal guarantee of the
Chairman and Managing Directors of the
Company.
Term loan - 150,000,000 15.75%-17.50% Secured by way of equitable mortgage Eight equal quarterly
subsidiary Company and hypothecation of 75,000,000 starting
specic project receivables. Further, the loan from 10.07.2010.
has been guaranteed by personal guarantee of
the Chairman and Managing Directors of the
Company.
Term loan 250,000,000 - 13.75% Secured by way of equitable mortgage of Eight equal quarterly
certain land of the Company / subsidiary installments of
Company and hypothecation of specic 62,500,000 starting
project receivables. Further, the loan has been from 30.06.2014.
guaranteed by corporate guarantee given by
subsidiary Company .
c) Term loan from nancial institutions
Term loan 854,902,070 1,063,628,833 14.25%-15.50% Secured by way of equitable mortgage Seventeen quarterly
of certain land of the Company / certain installments
subsidiary companies and hypothecation of - One installment
certain projects receivables. Further, the loan of 46,970,086,
has been guaranteed by personal guarantee of fteen installments
the Chairman and Managing Directors of the of 71,200,000 and
Company and secured by pledge of shares of last installment of
the Company held by promoters. 72,000,000 starting
from 30.06.2011
Term loan 491,138,187 652,872,000 14.50%-15.75% Secured by way of equitable mortgage Sixteen quarterly
of certain land of the Company / certain installments
subsidiary companies and hypothecation of - One installment
certain projects receivables. Further, the loan of 51,421,101 and
has been guaranteed by personal guarantee of fteen installments of
the Chairman and Managing Directors of the 54,700,000 starting
Company and secured by pledge of shares of from 30.06.2011
Term loan 1,258,149,543 1,308,507,035 15.50% Secured by way of equitable mortgage of Forty two monthly
certain land of the Company / subsidiary installments - two
Company and hypothecation of certain monthly Installments of
projects receivables. Further, the loan has 25,000,000 starting
been guaranteed by personal guarantee of from 31.03.2013 and
the Chairman and Managing Director of the forty monthly installments
Company and secured by pledge of shares of of 32,500,000
Term loan 1,591,114,678 1,580,297,874 14.50% Secured by way of equitable mortgage Eleven quarterly
of certain land of the Company / certain installments -one
subsidiary companies / collaborators and quarterly installment of
certain projects receivables. Further, the loan 100,000,000 and ten
has been guaranteed by personal guarantee quarterly installments of
of the Chairman and Managing Director of the 150,000,000 starting
Company and secured by pledge of shares of from 31.08.2014.

105 106
31.03.2013 31.03.2012
Term loan - 230,000,000 14.00% Secured by way of equitable mortgage Seven quarterly
of certain land of the certain subsidiary installments - six
companies and hypothecation of certain quarterly installments
receivables. Further, loan has been secured of 250,000,000 and
by pledge of shares of the Company held by last installment of
promoters. 230,000,000 starting
from 15.06.2010
Term loan - 553,310,867 14.00%-16.50% Secured by way of equitable mortgage Twenty monthly
subsidiary companies. Further, the loan has 40,000,000 and
been guaranteed by corporate guarantee given last installment of
by certain subsidiary companies and personal 33,333,333
guarantee of Managing Directors of the
Company and secured by pledge of shares of
Term loan 850,000,000 - 16.50% Secured by way of equitable mortgage Twenty ve monthly
subsidiary companies. Further, the loan has 40,000,000 starting
been guaranteed by corporate guarantee given from 15.02.2014.
by certain subsidiary companies and personal
guarantee of Managing Directors of the
Term loan 1,308,000,000 1,235,000,000 12.76% Secured by way of pari-passu charge on certain Twenty two quarterly
land of the subsidiary Company. Further, installments - twenty one
the loan has been guaranteed by personal quarterly installments
guarantee of the Chairman and Managing of 73,000,000 and
Directors of the Company. last installment of
67,000,000 starting
from 07.03.2010.
Term loan - 359,999,997 13.75%-14.15% Secured by way of equitable mortgage of Twelve equal quarterly
certain land of the Company / subsidiary installments of
companies. 166,666,667 starting
from 31.10.2009.
Term loan 104,166,674 729,166,670 13.50%-15.40% Secured by way of equitable mortgage Twenty four monthly
subsidiary companies and hypothecation of the 52,083,333 starting
has been guaranteed by corporate guarantee
given by certain subsidiary companies along
with personal guarantee of Chairman and
Term loan 43,191,582 132,938,582 14.25%-15.75% Secured by way of equitable mortgage Twenty four monthly
on certain land of the Company / certain installments of
with personal guarantee of Managing Directors
of the Company.
Term loan 57,521,647 178,000,000 15.25% Secured by way of equitable mortgage Eighteen monthly
on certain land of the Company / certain installments of
with personal guarantee of Chairman and

31.03.2013 31.03.2012
Term loan - 67,540,518 17%-18.25% Secured by way of equitable mortgage of Twelve monthly
Company and hypothecation of specic project 01.08.2011
receivables. Further , the loan has been
guaranteed by personal guarantee of Managing
Director of the Company.
Term loan - 81,790,132 14.00%-17.50% Secured by way of equitable mortgage of Twenty four monthly
Company. 01.07.2010.
Term loan 727,073,170 750,000,000 15.50%-16.75% Secured by way of equitable mortgage Twenty monthly
subsidiary Company and hypothecation of 37,500,000 starting
has been guaranteed by personal guarantee of
Term loan 820,000,000 - 15.00% Secured by way of equitable mortgage on Eight quarterly
certain land of the Company and hypothecation installments of
of specic project receivables. Further the 102,500,000 each
loan has been guaranteed by the personal starting from 26.09.2013
guarantee of Chairman and Managing Directors ending on 26.06.2015
of the Company
Term loan 3,731,000,000 - 15.00% Secured by way of equitable mortgage of Four Quarterly
certain land of Company / certain subsidiary installments of
companies and hypothecation on specic 300,000,000 starting
project receivables. Pledge of shares of from 15.07.2015, four
the Company held by promotors, Pledge of quarterly installments
shares of the associate Company, Pledge of of 400,000,000 ,four
investment in shares by associate Company. quarterly installments of
Further secured by pledge of shares of 250,000,000 and four
JV companies held by subsidiaries of the quarterly installments of
Company and personal guarantees of the 50,000,000 and ending
Chairman and Managing Directors of the on 15.04.2019
Company.
Term loan 200,000,000 - 17.50% Secured by way of equitable mortgage of Eight Quarterly
certain land of certain subsidiaries companies. installments of
Further, the loan has been guaranteed by 25,000,000 starting
corporate guarantee given by the land owning from 01.10.2013 and
companies and personal guarantees of the ending on 01.07.2015
Chairman and Managing Directors of the
Term loan 430,000,000 - 15.00% Secured by way of equitable mortgage on Eight quarterly
certain land of the Company and hypothecation installments of
of specic project receivables. Further the 53,750,000 each
loan has been guaranteed by the personal starting from 26.09.2013
guarantee of Chairman and Managing Directors ending on 26.06.2015
of the Company
Term loan - 1,450,000,000 16.25% Secured by way of equitable mortgage Repayable on 15.10.2012
of certain land of the Company / certain
subsidiary companies and hypothecation on
specic project receivables. Further, the loan
has been guaranteed by personal guarantee
of the Chairman and Managing Director of the
Company.

107 108
31.03.2013 31.03.2012
Term loan 200,000,000 - 16.00% Secured by way of equitable mortgage of Twenty monthly
certain land of Company / certain subsidiary installments of
companies. Further, the loan has been 10,000,000 each
guaranteed by corporate guarantee given by starting from 31.01.2014
the land owning companies and personal
guarantees of the Chairman and Managing
Directors of the Company and secured by
pledge of shares of the Company held by
promoters.
d) Finance lease obligation
Finance lease 1,070,063 2,042,637 9.50%-10.00% Secured by hypothecation of car against the Thirty six monthly
nance lease installments starting from
05.05.2011.
Finance lease 1,589,871 - Secured by hypothecation of car against the Sixty monthly installments
nance lease starting from 07.07.2012.
Finance lease 4,139,868 - 16.00%-16.25% Secured by Hypothecation of Financed Repayable in 39 monthly
Equipments / Assets. Further the loan has installments starting from
been guaranteed by the personal guarantee of 15.06.2012
Managing Director of the Company
(ii) Refer note no.50
(iii) Non Convertible Debentures of 2,390,014,496 (Previous year - 2,666,601,964), Term loan of 3,895,563,926 (Previous year - 9,504,026,169)
from banks, term loan of 12,666,257,550 (Previous year - 9,701,262,379) from nancial institutions and Finance lease of 43,577,689 (Previous
year - Nil) are also guaranteed by personal guarantee of Chairman/Managing Director(s).
(iv) Unsecured borrowings

Amount outstanding Interest rate Repayment terms
31.03.2013 31.03.2012
Deposits 4,951,560,000 5,440,626,000 11.50%-12.50% Repayable within two to three year from the date of deposit.
Finance lease 11,816,621 - 14.50% Repayable in 36 monthly installments starting from 22.12.2012 payable in
advance

5. OTHER LONG TERM LIABILITIES 31.03.2013 31.03.2012

Others
Security deposit 109,308,247 61,898,094
Deferred liability against land* 4,827,334,566 6,660,758,793
Total 4,936,642,813 6,722,656,887
*Deferred liability against land of 11,086,631,528 (Previous year 11,086,631,528) comprises current maturities of 6,259,296,962 (Previous
year- 4,442,872,735) and long term liability of 4,827,334,566 (Previous year- 6,660,758,793) payable against land acquired from government
development authorities on installment basis and is secured by way of rst charge on the related land.
6. LONG-TERM PROVISIONS 31.03.2013 31.03.2012

Total 187,163,321 164,901,408
7. SHORT-TERM BORROWINGS 31.03.2013 31.03.2012
Secured
Loans repayable on demand from banks 2,997,850,200 2,968,921,471
2,997,850,200 2,968,921,471
Unsecured
Loans and advances from related parties
from Subsidiaries 4,113,502,118 5,232,193,845
from Joint ventures and associates 1,519,000,000 1,854,000,000
from enterprises controlled by key management personnel 10,103,497 59,315,997
5,642,605,615 7,145,509,842
Deposits 1,771,468,280 2,325,252,022
7,414,073,895 9,470,761,864
Total 10,411,924,095 12,439,683,335
(i) Short term secured loan

Amount outstanding Interest rate Security and guarantee details Repayment terms
31.03.2013 31.03.2012
Loan from banks

Short term loan 400,000,000 400,000,000 14.00%-15.00% Secured by way of equitable mortgage of Repayable on demand
certain land of the Company.
Working capital 1,500,000,000 1,500,000,000 14.00%-15.00% Secured by way of equitable mortgage of Repayable on demand
demand loan certain land of the Company. Further, the
loan has been guaranteed by personal
guarantees of Chairman and Managing
Working capital 645,564,000 657,964,000 14.00%-15.00% Secured by way of equitable mortgage of Repayable on demand
demand loan certain land of the Company / subsidiary
Company. Further, the loan has been
guaranteed by corporate guarantee given
by subsidiary Company and personal
Cash credit/ 452,286,200 410,957,471 14.00% -16.75% Secured by way of hypothecation of book Repayable on demand
overdraft facility debts and certain xed assets of the
Company along with equitable mortgage of
certain land of the Company / subsidiary
companies. Further, the loan has been
guaranteed by corporate guarantees given
by subsidiary companies and personal

109 110
(ii) Refer note no.50

(iii) Out of the above short term loan from banks of 2,597,850,200 (Previous year - 2,568,921,471 ) are also guaranteed by personal guarantee
of Chairman/Managing Director(s).
8. TRADE PAYABLES 31.03.2013 31.03.2012
Micro & Small enterprises (refer note 43) 47,223,530 51,108,621

Others 7,414,717,945 3,607,702,897
Total 7,461,941,475 3,658,811,518
9. OTHER CURRENT LIABILITIES 31.03.2013 31.03.2012
Current maturities of long term borrowings (refer note 4) * 10,916,323,812 12,600,952,244

Amount payable to related parties 112,712,862 112,707,608
Interest accrued but not due 744,341,187 676,985,626
Interest accrued and due(refer note 4)* 736,349,205 535,146,675
Unclaimed dividends 12,384,882 12,963,401
Unpaid matured debentures and interest accrued thereon (refer note 4) ** 218,941,289 2,666,601,964
Statutory taxes and dues 239,872,572 319,262,514
Employee payables 293,019,281 197,585,860
Expenses payable 3,820,059,929 2,451,952,447
Other advances 623,120,964 1,131,054,447
Security and other deposits*** 2,128,252,385 332,461,797
Advance received from customers 7,600,946,438 8,414,414,090
Current portion of deferred liabilities against land (refer note 5) 6,259,296,962 4,425,872,735
Book overdrafts 75,996,622 762,813,315
Total 33,781,618,390 34,640,774,723
Securities & terms of repayments
*Term loan from nancial institution
Term loan of 1,450,000,000 repayable on 15.10.2012 and interest accrued thereon of 84,587,622 is secured by way of equitable mortgage of
certain land of the Company / certain subsidiary companies and hypothecation on specic project receivables. Further, the loan has been guaranteed
by personal guarantee of the Chairman and Managing Director of the Company.
**Debentures
Current year :
60, 12% Secured Redeemable Non-convertible Debentures of 10,00,000 each were oustanding upto 31st March, 2013. The interest outstanding on
debenture is 158,941,289.
Previous year :
250, 11.00% Secured Redeemable Non-convertible Debentures of 10,00,000 each were redeemable, at par on 16th May, 2011.
250, 11.00% Secured Redeemable Non-convertible Debentures of 10,00,000 each were redeemable, at par on 15th June, 2011.
250, 11.00% Secured Redeemable Non-convertible Debentures of 10,00,000 each were redeemable, at par on 16th August, 2011.
50,00,000, 11.00% Secured Redeemable Non-convertible Debentures of 100 each were redeemable, at par on 15th September, 2011.
50,00,000, 11.00% Secured Redeemable Non-convertible Debentures of 100 each were redeemable, at par on 15th December, 2011.
50,00,000, 11.00% Secured Redeemable Non-convertible Debentures of 100 each were redeemable, at par on 15th March, 2012.
The aforesaid debentures were secured by equitable mortgage on certain land of the Company, its subsidiaries and promoter group companies and
personal guarantee of Managing Director.
The above outstanding debentures have been restructured as well as rescheduled effective 15.04.2012. Accordingly, these debentures after such
restructuring and rescheduling has been discussed in note 4 above.
*** Includes 1,750,000,000 (Previous year-Nil) from related party against contractual arrangement.
10. SHORT-TERM PROVISIONS 31.03.2013 31.03.2012

Provision for taxation (net of taxes paid) - 1,037,608,193
Total 36,901,405 1,069,686,882

11. TANGIBLE ASSETS (Amount in )
Particulars Owned assets Leased assets * Total
Freehold Buildings Plant and Earth Furniture Ofce Vehicles- Trucks and Computers Fixtures in Plant and Vehicles -
land machinery moving and xtures equipments ofce jeeps lease hold machinery Ofce
equipments building
Gross block
Cost- As at 1st April, 338,367,190 478,899,468 102,548,340 44,432,519 79,532,865 102,380,146 104,555,398 17,885,174 175,811,910 94,596,207 - 3,709,149 1,542,718,366
2011
Additions 174,324,000 70,000,000 31,537,532 - 452,554 1,854,729 2,228,792 - 17,070,237 7,187,281 - - 304,655,125
Disposals / Adjustments 309,170,995 341,626,218 25,980,334 - 2,270,738 2,868,022 9,056,307 17,341,696 - - - - 708,314,310
ANNUAL REPORT
As at 31st March, 2012 203,520,195 207,273,250 108,105,538 44,432,519 77,714,681 101,366,853 97,727,883 543,478 192,882,147 101,783,488 - 3,709,149 1,139,059,181
Additions 11,022,852 - 2,716,339 - 310,201 1,564,507 523,154 - 2,950,748 - 45,997,910 2,445,740 67,531,451
2012-13
Disposals / Adjustments - - - - - - 8,524,767 - 232,225 1,152,599 - - 9,909,591
As at 31st March, 2013 214,543,047 207,273,250 110,821,877 44,432,519 78,024,882 102,931,360 89,726,270 543,478 195,600,670 100,630,889 45,997,910 6,154,889 1,196,681,041
Depreciation &
Amortisation
As at 1st April, 2011 - 28,008,333 72,273,366 44,432,419 26,446,171 27,881,524 63,850,360 12,453,856 129,944,298 92,556,841 - 1,931 497,849,099
Charge for the year - 3,396,973 2,351,902 - 4,618,610 4,884,415 8,367,677 61,467 30,787,606 2,052,026 - 352,369 56,873,045
Impairments - - 8,366,408 - 2,148,167 - 372,019 - - - - 10,886,594
Disposals / Adjustments - 15,893,777 24,402,176 - 1,687,261 1,078,873 7,635,184 12,395,286 - - - - 63,092,557
st
As at 31 March, 2012 - 15,511,529 58,589,500 44,432,419 31,525,687 31,687,066 64,954,872 120,037 160,731,904 94,608,867 - 354,300 502,516,181
Charge for the year - 3,378,554 4,045,657 100 3,894,131 4,600,825 6,859,548 62,318 10,001,892 2,395,660 1,519,657 490,503 37,248,845
Impairments - - 1,146,481 - - 490,969 433,279 - 16,657,642 - - - 18,728,371
Disposals / Adjustments - - 684,568 - 713,938 (340,416) 6,965,302 - 20,444,044 203,915 - - 28,671,351
st
As at 31 March, 2013 - 18,890,083 63,097,070 44,432,519 34,705,880 37,119,276 65,282,397 182,355 166,947,394 96,800,612 1,519,657 844,803 529,822,046
Net block
As at 31st March, 2012 203,520,195 191,761,721 49,516,038 100 46,188,994 69,679,787 32,773,011 423,441 32,150,243 7,174,621 - 3,354,849 636,543,000
As at 31st March, 2013 214,543,047 188,383,167 47,724,807 - 43,319,002 65,812,084 24,443,873 361,123 28,653,276 3,830,277 44,478,253 5,310,086 666,858,995
* Refer note 37(c)

STANDALONE
111 112
12. NON-CURRENT INVESTMENTS 31.03.2013 31.03.2012

Unquoted - Trade
In Subsidiaries
Abohar Builders Pvt. Ltd. 500,000 500,000
50000 (50000) Equity shares of 10 each
Aditya Properties Pvt. Ltd. 183,140,340 183,140,340
Agmon Builders Pvt. Ltd. - 500,000
Nil (50000) Equity shares of 10 each
Agmon Projects Pvt. Ltd. 500,000 500,000
Akola Properties Ltd. 500,000 500,000
Algoa Properties Pvt. Ltd. 500,000 500,000
Alice Builders Pvt. Ltd. 500,000 500,000
Aller Properties Pvt. Ltd. 500,000 500,000
Alor Golf Course Pvt. Ltd. 500,000 500,000
Alor Maintenance Pvt. Ltd. 500,000 500,000
Alor Projects Pvt. Ltd. 500,000 500,000
Alor Recreation Pvt. Ltd. 500,000 500,000
Amaro Developers Pvt. Ltd. 421,760,472 421,760,472
Amarprem Estates Pvt. Ltd. 367,316,954 367,316,954
Amur Developers Pvt. Ltd. 500,000 500,000
Andes Estates Pvt. Ltd. 500,000 500,000
Angul Properties Pvt. Ltd. 500,000 500,000
Arahan Properties Pvt. Ltd. 500,000 500,000
Ardent Build-Tech Ltd. 750,000,000 750,000,000
Askot Builders Pvt. Ltd. 500,000 500,000
Avril Properties Pvt. Ltd. 500,000 500,000
Azores Properties Ltd. 500,000 500,000
Bengal Unitech Universal Infrastructure Pvt. Ltd. 48,997,600 9,000,000
Bengal Unitech Universal Siliguri Projects Ltd. 500,000 500,000

Contd. 31.03.2013 31.03.2012

Broomeld Builders Pvt. Ltd. 500,000 500,000
Broomeld Developers Pvt. Ltd. 500,000 500,000
Burley Holdings Ltd. 43 43
1 (1) Ordinary Shares of US$ 1each
Bynar Properties Pvt. Ltd. (earlier known as Camphor Properties Pvt. Ltd.) 444,527,722 444,527,722
Cape Developers Pvt. Ltd. 500,000 500,000
Cardus Projects Pvt. Ltd. 500,000 500,000
Clarence Projects Pvt. Ltd. 500,000 500,000
Clover Projects Pvt. Ltd. 500,000 500,000
Coleus Developers Pvt. Ltd. 500,000 500,000
Colossal Infra-Developers Pvt. Ltd, - 500,000
Colossal Projects Pvt. Ltd. 500,000 500,000
Comfrey Developers Pvt. Ltd. 500,000 500,000
Cordia Projects Pvt. Ltd. 500,000 500,000
Crimson Developers Pvt. Ltd. 500,000 500,000
Croton Developers Pvt. Ltd. 500,000 500,000
Dantas Properties Pvt. Ltd. 500,000 500,000
Deoria Realty Pvt. Ltd. 500,000 500,000
Devoke Developers Pvt. Ltd. 500,000 500,000
Devon Builders Pvt. Ltd. 250,069,607 250,069,607
Dhaulagiri Builders P. Ltd. 408,106,187 408,106,187
Dhruva Realty Projects Ltd. 500,000 500,000
Dibang Properties Pvt. Ltd. 500,000 500,000
Drass Projects Pvt. Ltd. 500,000 500,000
Elbe Builders Pvt. Ltd. 500,000 500,000
Elbrus Builders Pvt. Ltd. - 501,250

113 114
Contd. 31.03.2013 31.03.2012

Elbrus Developers Pvt. Ltd. 500,000 500,000
Elbrus Properties Pvt. Ltd. 500,000 500,000
Erebus Projects Pvt. Ltd. 500,000 500,000
Erica Projects Pvt. Ltd. 500,000 500,000
Erode Projects Pvt. Ltd. 500,000 500,000
Falcon Projects Pvt. Ltd. - 500,000
Flores Properties Ltd. 500,000 500,000
Girnar Infrastructures Pvt. Ltd. 500,000 500,000
Global Perspectives Ltd. 25,220,600 25,220,600
Greenwood Projects Pvt. Ltd. 500,000 500,000
Halley Developers Pvt. Ltd. 500,000 500,000
Halley Projects Pvt. Ltd. 500,000 500,000
Harsil Builders Pvt. Ltd. 500,000 500,000
Harsil Properties Pvt. Ltd. - 500,000
Hassan Properties Pvt. Ltd. 500,000 500,000
Hatsar Estates Pvt. Ltd. 500,000 500,000
Havelock Estates Pvt. Ltd. 500,000 500,000
Havelock Investments Ltd. 21,000,000 21,000,000
Havelock Properties Ltd. 48,997,600 9,000,000
Havelock Realtors Ltd. 500,000 500,000
Havelock Schools Ltd. 500,000 500,000
High Strength Infra Developers Pvt. Ltd. - 500,000
High Strength Projects Pvt. Ltd 500,000 500,000
High Vision Healthcare Pvt. Ltd - 500,000
Ilam Developers Pvt. Ltd. - 500,000

Contd. 31.03.2013 31.03.2012

Jalore Properties Pvt. Ltd. 500,000 500,000
Jorhat Properties Pvt. Ltd. 500,000 500,000
Kerria Projects Pvt. Ltd. 439,320,361 439,320,361
Konar Developers Pvt. Ltd. 500,000 500,000
Koshi Builders Pvt. Ltd. 500,000 500,000
Landcape Builders Ltd. 500,000 500,000
Lavender Developers Pvt. Ltd. 500,000 500,000
Lavender Projects Pvt. Ltd. 500,000 500,000
Mahoba Builders Pvt. Ltd. 500,000 500,000
Mahoba Schools Ltd. 500,000 500,000
Manas Realty Projects Pvt. Ltd. 500,000 500,000
Mandarin Developers Pvt. Ltd. 500,000 500,000
Mandarin Projects Pvt. Ltd. - 500,000
Madison Builders Pvt. Ltd. (earlier known as Mangrove Builders Pvt. Ltd.) 455,356,191 455,356,191
Mansar Properties Pvt. Ltd. 500,000 500,000
Marine Builders Pvt. Ltd. 500,000 500,000
Masla Builders Pvt. Ltd. 500,000 500,000
Mayurdhwaj Projects Pvt. Ltd. 500,000 500,000
Medlar Developers Pvt. Ltd. 500,000 500,000
Medwyn Builders Pvt. Ltd. 419,549,136 419,549,136
Moore Builders Pvt. Ltd. 500,000 500,000
Mount Everest Projects Pvt. Ltd. 500,000 500,000
Munros Projects Pvt. Ltd. 500,000 500,000
New India Construction Co. Ltd. 800,000 800,000
Nirvana Real Estate Projects Ltd. 500,000 500,000

115 116
Contd. 31.03.2013 31.03.2012

Nuwell Ltd. 2,332,599,656 813,225
25000 (20000) Ordinary Shares of US$ 1 each
Ojos Developers Pvt. Ltd. 500,000 500,000
Onega Properties Pvt. Ltd. 500,000 500,000
Panchganga Projects Ltd. 500,000 500,000
Panicum Projects Pvt. Ltd. - 500,000
Plassey Builders Pvt. Ltd. 500,000 500,000
Prasunder Estates Pvt. Ltd. 37,851,284 37,851,284
Primrose Developers Pvt. Ltd. 500,000 500,000
Purus Properties Pvt. Ltd. 500,000 500,000
Quadrangle Estates Pvt Ltd. 500,000 500,000
Rhine Infrastructures Pvt. Ltd. 500,000 500,000
Robinia Developers Pvt. Ltd. 500,000 500,000
Ruhi Construction Co.Ltd. 500,000 500,000
Sabarmati Projects Pvt. Ltd. 500,000 500,000
Samay Properties Pvt. Ltd. 500,000 500,000
Sandwood Builders&Dev.P.Ltd 435,154,235 435,154,235
Sangla Properties Pvt. Ltd. 500,000 500,000
Sankoo Builders Pvt. Ltd. 500,000 500,000
Sankoo Developers Pvt. Ltd. - 500,000
Sanyog Builders Ltd. 500,000 500,000
Sanyog Properties Pvt. Ltd. - 500,000
Sarnath Realtors Ltd. 500,000 500,000
Simpson Estates Pvt. Ltd. 500,000 500,000
Sirur Developers Pvt. Ltd. 500,000 500,000
Somerville Developers Ltd. 500,000 500,000

Contd. 31.03.2013 31.03.2012

Sublime Properties Pvt. Ltd. 500,000 500,000
Supernal Corrugation (India) Ltd. 800,000 800,000
Tabas Estates Pvt. Ltd. 500,000 500,000
Technosolid Limited 3,425,975,000 48,942
10000 (1000) Equity shares of US$ 1 each
Uni Homes Pvt Ltd. 500,000 500,000
Unitech Agra Hi-Tech Township Ltd. 500,000 500,000
Unitech Alice Projects Pvt. Ltd. 500,000 500,000
Unitech Ardent Projects Pvt. Ltd. 500,000 500,000
Unitech Build-Con Pvt. Ltd. 255,000 255,000
Unitech Builders & Projects Ltd - 366,337,192
Unitech Builders Ltd. 500,000 500,000
Unitech Business Parks Ltd. 39,878,000 39,878,000
Unitech Capital Pvt. Ltd 40,025,000 40,025,000
Unitech Country Club Ltd. 1,050,000 1,050,000
Unitech Cynara Projects Pvt. Ltd. 500,000 500,000
Unitech Developers & Hotels Pvt. Ltd. 380,000,600 380,000,600
475000 (475000)Equity shares of 10 each
Unitech High Vision Projects Ltd. 500,000 500,000
Unitech Hi-Tech Developers Ltd. 255,000 255,000
Unitech Hi-Tech Projects Pvt. Ltd. 500,000 500,000
Unitech Holdings Ltd. 1,185,000,000 1,185,000,000
Unitech Hospitality Ltd. 500,000 500,000
Unitech Hospitality Services Ltd. 163,161,858 163,161,858
Unitech Hotels Pvt. Ltd. 600 600
Unitech Hyderabad Projects Ltd. 475,000 475,000
Unitech Hyderabad Township Ltd. 500,000 500,000

117 118
Contd. 31.03.2013 31.03.2012

Unitech Industries & Estates Pvt. Ltd. 500,000 500,000
Unitech Industries Ltd. 500,000 500,000
Unitech Info-Park Ltd. 500,000 500,000
Unitech Infra Ltd 500,000 500,000
Unitech Infra-Developers Ltd. 334,139,552 334,139,552
Unitech Infra-Properties Ltd. 500,000 500,000
Unitech Kochi SEZ Ltd. 500,000 500,000
Unitech Konar Projects Pvt. Ltd. 500,000 500,000
Unitech landcape Projects Pvt. Ltd. - 500,000
Unitech Manas Projects Pvt. Ltd. 500,000 500,000
Unitech Miraj Projects Pvt. Ltd. 500,000 500,000
Unitech Nelson Projects Pvt. Ltd. 500,000 500,000
Unitech Overseas Ltd. 2,603,092,725 2,603,092,725
33731172 (33731172) Ordinary shares of GBP 1 each
Unitech Pioneer Nirvana Recreation Pvt. Ltd. 13,656,000 13,656,000
Unitech Power Transmission Ltd. 422,625,522 222,625,522
Unitech Property Management Pvt Ltd. 500,000 500,000
Unitech Real Estate Builders Ltd. 500,000 500,000
Unitech Real Estate Management Pvt. Ltd. 500,000 500,000
Unitech Real-Tech Properties Ltd. 500,000 500,000
Unitech Realty Builders Pvt. Ltd. 1,733,623,001 1,733,623,001
Unitech Realty Developers Ltd. 500,000 500,000
Unitech Realty Estates Pvt. Ltd. - 500,000
Unitech Realty Pvt. Ltd. 50,400,000 50,400,000
Unitech Reliable Projects Pvt. Ltd. 284,500,000 284,500,000
Unitech Residential Resorts Ltd. 718,090,750 718,090,750

Contd. 31.03.2013 31.03.2012

Unitech Samus Projects Pvt. Ltd. 500,000 500,000
Unitech Varanasi Hi-Tech Township Ltd. - 500,000
Unitech Vizag Projects Ltd. 475,000 475,000
Zanskar Builders Pvt. Ltd. 500,000 500,000
Zanskar Realtors Pvt. Ltd. 500,000 500,000
Zanskar Realty Pvt. Ltd. 293,666,637 293,666,637
Joint ventures
Arihant Unitech Realty Projects Ltd. 5,000,000 5,000,000
North Town Estates Pvt. Ltd. 250,000 250,000
S. B. Developers Ltd. 16,088,400 16,088,400
Sarvmanglam Builders & Developers Pvt. Ltd. 16,002,000 16,002,000
Shivalik Ventures Pvt. Ltd. 4,910,200,000 4,910,200,000
Shivalik Ventures City Developers Pvt. Ltd. 100,000 -
10000 (Nil) Equity shares of 10 each
Unichand Builders Pvt. Ltd. 50,000 50,000
Unitech Amusement Parks Ltd. 250,000,000 250,000,000
Unitech Ltd.- L G Construction Co. Ltd. 95,114,487 94,355,053
Associates
Greenwood Hospitality Pvt. Ltd. 24,675,000 24,675,000
Millennium Plaza Ltd. 5,000,000 5,000,000
Unitech Shivalik Realty Ltd 250,000 250,000
Viviana Infra Developers Pvt. Ltd. - 100,000
Others
Alice Developers Pvt. Ltd. 500,000 500,000
Askot Developers Pvt. Ltd. 500,000 500,000
Aswan Developers Pvt. Ltd. 500,000 500,000
Avens Properties Pvt. Ltd. 500,000 500,000
Carnoustie Management Pvt. Ltd. 3,100,545,000 3,100,545,000

119 120
Contd. 31.03.2013 31.03.2012
2237030 (2237030) Equity shares of Class B of Rs 10 each

Helmand Projects Pvt. Ltd. 500,000 500,000
27,268,188,120 21,663,559,439
Investments in Preference Shares (fully paid-up)
Nil (95000000) 1% Non-Cumulative Optionally Convertible Redeemable Preference Shares of 10 each
- 950,000,000
Investments in debentures/bonds (fully paid-up)
Aswan Developers Pvt. Ltd. 58,438,300 58,438,300
5843830 (5843830) Compulsorily Convertible Debentures of 10 each
Avens Properties Pvt Ltd 34,334,550 34,334,550
3433455 (3433455) Compulsorily Convertible Debentures of 10 each
Alice Developers Pvt. Ltd. 34,388,900 34,388,900
3438890 (3438890) Compulsorily Convertible Debentures of 10/-each
Helmand Projects P Ltd. 37,555,760 37,555,760
3755576 (3755576) Compulsorily Convertible Debentures of 10/-each
164,717,510 164,717,510
Other non-current investments ( fully paid-up)
CIG Realty Fund-I 250,000,000 250,000,000
25000000 (25000000) Units of 10 each
CIG Realty Fund-II 337,260,000 337,260,000
33000000 (33000000) Units of 10 each
CIG Realty Fund-IV 500,000,000 500,000,000
50000000 (50000000) Units of 10 each
1,087,260,000 1,087,260,000
Mega International Pvt. Ltd. 500,000 500,000
Prasha Technologies Ltd. 1,025,000 1,025,000
Unitech Wireless (Tamil Nadu) Pvt. Ltd. 345,000,000 345,000,000
9811356 (9811356)Equity shares of 10 each
346,525,000 346,525,000
Investments in Debentures/Bonds (fully paid-up)
Cestos Unitech Wireless Pvt. Ltd. 1 -
23460000 (Nil) Compulsorily Convertible Debentures of 10/-each
1 -
Quoted - Non trade
Investments in Equity Instruments (fully paid-up)
Advani Hotels & Resorts (India) Ltd. 4,000 4,000
Can Fin Homes Ltd. 29,150 29,150
33,150 33,150

Contd. 31.03.2013 31.03.2012

Investments in Mutual Fund (fully paid-up)
Faering Capital I Evolv. Fund 57,675,549 36,000,000
57675 (36000) Units of 1000 each
Canara Robeco Gold Saving Fund-Regular Growth 1,000,000 -
99282.344(Nil) Units of 10 each
Canara Robeco Indigo Fund-Regular Growth 150,000 -
11623.202(Nil) Units of 10 each
58,825,549 36,000,000
28,925,549,330 24,248,095,099
Less: Provision for diminution in value of investment 345,000,000 -
Total 28,580,549,330 24,248,095,099
Aggregate amount of quoted investments - at cost 33,150 33,150

Aggregate amount of unquoted investments - at cost 28,925,516,180 24,248,061,949
Aggregate amount of quoted investments - at market value 362,070 259,900
Aggregate Provision for diminution in value of investment 345,000,000 -
Investments in shares of subsidiary /joint venture companies have been pledged as collateral security for raising loans amounting to 7,109,576,077
(Previous year- 3,300,764,000) by the Company, subsidiaries and its joint ventures.
13. DEFERRED TAX ASSETS (NET) 31.03.2013 31.03.2012
Deferred tax liabilities on account of

Depreciation 50,847,334 45,228,301
Gross deferred tax liabilities 50,847,334 45,228,301
Deferred tax assets on account of
Provision for diminution in value of Investment 74,623,500 -
Long term capital loss carried forward 188,557,856 -
Provision for doubtful trade receivables/advances 23,356,344 23,356,344
Gross deferred tax assets 359,235,500 87,266,537
Deferred tax assets (net) 308,388,166 42,038,236
Deferred tax charged/(credit) to Statement of Prot and Loss (266,349,931) (23,643,832)
14. LONG TERM LOANS AND ADVANCES 31.03.2013 31.03.2012

Security deposits 812,247,949 684,758,132
Loans to subsidiaries * 340,381,206 326,737,934
Other loans and advances 10,000,000 10,000,000
Total 1,162,629,155 1,021,496,066
* Loans to wholly owned subsidiaries comprises
Sangla Properties Pvt. Ltd. 1,790,000 1,690,000
Havelock Schools Ltd. 5,967,494 5,939,202
Mahoba Builders Ltd. 6,730,000 6,530,000
Mahoba Schools Ltd. 5,960,702 5,940,702
Panchganga Projects Ltd. 7,160,000 7,060,000
Unitech Hi-Tech Projects Pvt Ltd 312,773,010 299,578,030
Total 340,381,206 326,737,934

121 122
15. CURRENT INVESTMENTS 31.03.2013 31.03.2012
Unquoted- Non trade

Investments in mutual funds (fully paid-up)
Tata oater fund-plan A daily dividend 50,635,983 -
50456.308(Nil) units of 1000 each
Birla sunlife saving fund-daily dividend-regular plan 50,597,467 -
505495.467(Nil) units of 100 each
UTI treasury advantage fund-institutional plan-daily dividend reinvestment 50,636,353 -
50625.514 (Nil) units of 1000 each
ICICI prudential exible income-regular plan-daily dividend 50,635,828 -
478893.724 (Nil) units of 100 each
Total 202,505,631 -
Aggregate amount of unquoted investments - at cost 202,505,631 -
Aggregate amount of diminution in value of investments - -
16. INVENTORIES 31.03.2013 31.03.2012
Finished properties 51,838,308 73,346,668

Land 11,210,564,622 11,274,894,413
Land development rights 55,704,745 353,761,238
Total 11,318,107,675 11,702,002,319
17. TRADE RECEIVABLES 31.03.2013 31.03.2012

Due over six months
Considered good (unsecured) 9,420,510,745 13,101,362,052
Considered doubtful 12,987,500 12,987,500
9,433,498,245 13,114,349,552
Less: Provision for doubtful trade receivables (12,987,500) (12,987,500)
9,420,510,745 13,101,362,052
Others
Considered good (unsecured) 2,966,099,034 3,124,348,339
Total 12,386,609,779 16,225,710,391
18. CASH AND BANK BALANCES 31.03.2013 31.03.2012
Cash and cash equivalents

Cash on hand 8,095,004 3,468,682
Balances with banks
- in current account 620,267,578 655,204,840
- in deposit account (with maturity of 3 months or less) 5,515,000
645,637,531 684,981,273
Other Bank Balances
Bank deposits with maturity more than 3 months 263,061,036 466,439,274
Margin money deposit* 682,907,010 416,618,117
Unclaimed dividend account 12,384,882 12,963,401
958,352,928 896,020,792
Total 1,603,990,459 1,581,002,065
*Margin money given against bank guarantee in respect of project in progress

19. SHORT-TERM LOANS AND ADVANCES 31.03.2013 31.03.2012

(Unsecured,considered good unless stated otherwise)
Loans and advances to related parties
to subsidaries
Share application 2,310,649,750 8,562,362,239
Loans* 39,270,212,186 39,068,196,354
Advances** 11,333,631,670 11,884,304,560
52,914,493,606 59,514,863,153
to Joint ventures and associates

Share application 939,400,000 180,058,258
Loans 25,308,030 360,317,188
Others 165,443,318 1,992,278
1,130,151,348 542,367,724
54,044,644,954 60,057,230,877
Loans and advances to others
Advance income tax (net of provision made) 169,283,688 -
Advance other taxes 177,911,973 1,879,490
Advances to vendors 2,234,947,617 1,469,478,005
Prepaid expenses 297,934,429 49,981,797
Inter corporate deposits 2,669,513,625 2,364,500,001
Advances to employee 35,612,604 26,076,370
Advances for purchase of land and project pending commencement 9,248,788,996 16,074,305,962
Others loan and advances 3,945,820,237 3,381,222,714
Loans and advances to others (unsecured, considered doubtful) 59,000,000 59,000,000
18,838,813,169 23,426,444,339
Less: Provision for doubtful loans and advances (59,000,000) (59,000,000)
18,779,813,169 23,367,444,339
Total 72,824,458,123 83,424,675,216
* Loans to subsidiaries
a) Wholly Owned Subsidiaries

Alor Recreation Pvt. Ltd. 2,148,565 1,500,860
Arcadia Projects Pvt. Ltd. - 1,539,441
Ardent Build-Tech Ltd. 73,785,022 73,681,651
Bengal Unitech Universal Townscape Ltd. 14,020,235 308,124
Bengal Unitech Universal Siliguri Projects Ltd. 1,143,048,205 1,154,548,205
Broomeld Builders Pvt Ltd. 258,471 253,150
Colossal Projects Pvt Ltd 1,407,527,523 1,458,069,366
Devoke Developers Pvt Ltd 6,709,319 1,209,319
Deoria Realty Pvt Ltd. 211,741 -
Dhruva Realty Projects Ltd. 278,020 278,020
Erebus Projects Pvt. Ltd. 1,001,675,000 1,001,675,000
Girnar Infrastructures Pvt. Ltd. 6,506,359 6,495,909
Hatsar Estates Pvt. Ltd. - 8,000,000
Manas Realty Projects Pvt Ltd 2,238,651 1,702,879
Mayurdhwaj Projects Pvt. Ltd. 150,905,304 177,103,475
Prasunder Estates Pvt. Ltd. 415,037,963 415,037,963
Quardrangle Estates Pvt Ltd. 509,893 509,893
Ruhi Construction Company Ltd. 625,343 625,343
Unitech Kochi SEZ Ltd. 214,949,094 214,948,060

123 124
Contd. 31.03.2013 31.03.2012
Unitech Ardent Projects Pvt. Ltd - 1,119,069,436

Unitech Buildwell Pvt. Ltd. - 2,168,314
Unitech Hyderabad Township Ltd. 3,174,594,244 2,788,287,020
Unitech Industries & Estate Pvt Ltd 10,964,580 10,839,580
Unitech Infra Ltd. 449,834,901 328,473,629
Unitech Power Trasmission Ltd 170,379,853 269,850,811
Unitech Real Estate Builders Ltd. - 934,782,502
Unitech Realty Developers Ltd. 1,667,022 1,667,022
Unitech Residential Resorts Ltd. 5,690,834,420 5,694,231,251
Unitech Holdings Ltd. 582,839,012 257,221,227
Unitech Real Estate Management Pvt. Ltd. 3,810,682 -
Unitech Reliable Projects Pvt. Ltd. 30,610,794 -
Hatsar Estates Pvt Ltd. 6,000,000
Arcadia Build-Tech Ltd. - 500,000
Amarprem Estates Pvt. Ltd. - 500,000
Deoria Properties Ltd. 500,000 500,000
Unitech Infra Developers Ltd. - 500,000
Unitech Builders & Developers Ltd. - 500,000
Zanskar Realty Pvt. Ltd. - 500,000
Unitech Pioneer Nirvana Recreation Pvt. Ltd. 7,000,000 7,000,000
b) Other subsidiaries
Bengal Unitech Universal Infrastructure Pvt. Ltd - 1,106,476,428
Bengal Universal Consultants Pvt. Ltd 5,811,175 12,011,905
Havelock Properties Ltd. 2,046,901,516 1,230,422,406
Unitech Acacia Projects Pvt Ltd. 15,204,607,660 13,965,544,358
Unitech Hi-Tech Developers Ltd. 86,343,944 524,709,550
Unitech Hyderabad Projects Ltd. 3,509,956,761 3,108,501,150
Unitech Infopark Ltd 172,589,510 172,589,510
Unitech Vizag Projects Ltd. 3,674,531,405 3,013,863,597
39,270,212,186 39,068,196,354
** Advances to subsidiary companies
In pursuance of real estate activities undertaken, the Company has given advances to its Wholly Owned Subsidiaries for purchase of land. The said land
are being developed by the Company as per Memorandum of Understanding executed between the parties.
Abohar Builders Pvt. Ltd. 7,664,870 7,664,870
Aditya Properties Pvt. Ltd. 114,818,991 114,818,991
Agmon Projects Pvt. Ltd. 260,850,476 258,437,404
Akola Properties Ltd. 44,377,730 44,377,730
Algoa Properties Pvt. Ltd. 66,026,310 66,026,310
Aller Properties Pvt. Ltd. 32,552,960 32,552,960
Alor Projects Pvt. Ltd. 443,264,657 437,586,566
Amaro Developers Pvt. Ltd. 39,587,151 39,587,151
Amarprem Estates Pvt. Ltd. 22,164,182 21,218,045
Amur Developers Pvt. Ltd. 74,516,420 74,516,420
Andes Estates Pvt. Ltd. 30,243,718 30,243,718
Angul Properties Pvt. Ltd. 10,291,155 10,291,155
Arahan Properties Pvt. Ltd. 10,125,940 10,125,940
Askot Builders Pvt. Ltd. 26,414,601 26,414,601
Azores Properties Ltd. 128,604,761 128,604,761
Broomeld Developers Pvt. Ltd. 145,696,926 168,538,607

Contd. 31.03.2013 31.03.2012
Broomeld Builders Pvt. Ltd. 343,417,786 343,417,786

Bynar Properties Pvt. Ltd. 40,891,096 40,891,096
Cape Developers Pvt. Ltd. 107,212,242 107,212,242
Cardus Projects Pvt. Ltd. 116,767,316 116,512,630
Clarence Projects Pvt. Ltd. 18,493,900 18,493,900
Cordia Projects Pvt. Ltd. 28,176,629 28,176,629
Crimson Developers Pvt. Ltd. 303,521,832 300,194,954
Croton Developers Pvt. Ltd. 515,514,254 515,514,254
Dantas Properties Pvt. Ltd. 64,660,510 64,660,510
Deoria Properties Ltd. 89,444,102 89,444,102
Deoria Realty Pvt. Ltd. 34,309,554 82,990,187
Devon Builders Pvt. Ltd. 22,886,520 22,886,520
Dhaulagiri Builders Pvt. Ltd. 38,302,900 38,302,900
Dhruva Realty Projects Ltd. 372,464,705 372,068,125
Dibang Properties Pvt. Ltd. 236,358,966 235,235,694
Drass Projects Pvt. Ltd. 39,801,904 39,801,904
Elbe Builders Pvt. Ltd. 20,374,310 20,374,310
Elbrus Developers Pvt. Ltd. 40,681,225 37,856,380
Elbrus Properties Pvt. Ltd. 111,964,344 111,964,344
Flores Properties Ltd. 51,175,528 51,175,528
Girnar Infrastructure Pvt. Ltd. 346,911,679 342,611,715
Greenwood Projects Pvt. Ltd. 19,979,555 19,979,555
Halley Developers Pvt. Ltd. 31,643,032 31,643,032
Harsil Builders Pvt. Ltd. 40,348,076 40,348,076
Hassan Properties Pvt. Ltd. 51,823,899 51,823,899
Havelock Relators Ltd. 131,165,920 131,165,920
Havelock Estates Pvt. Ltd. 79,791,019 79,791,019
High Strength Projects Pvt. Ltd. 9,545,472 9,545,472
Jalore Properties Pvt. Ltd. - 47,434,144
Kerria Projects Pvt. Ltd. 40,285,241 40,285,241
Koshi Builders Pvt. Ltd. 80,148,869 80,148,869
Landscape Builders Ltd. 152,521,489 155,755,880
Lavender Developers Pvt. Ltd. 14,622,328 14,622,328
Lavender Projects Pvt. Ltd. 49,782,854 49,782,854
Manas Realty Projects Pvt. Ltd. 10,449,600 10,449,600
Madison Builders Pvt. Ltd. 41,682,000 41,682,000
Mansar Properties Pvt. Ltd. 8,963,705 8,963,705
Marine Builders Pvt. Ltd. 48,895,471 48,895,471
Masla Builders (P) Ltd. 23,210,976 23,109,740
Medwyn Builders Pvt. Ltd. 38,757,930 38,757,930
Moore Builders Pvt. Ltd. 77,732,170 77,732,170
Onega Properties Pvt. Ltd. 288,706,919 291,174,688
Plassey Builders Pvt. Ltd. 41,663,495 41,663,495
Primrose Developers Pvt. Ltd. 97,919,432 97,919,432
Purus Properties Pvt. Ltd. 253,058,405 251,963,448
Quadrangle Estates Pvt. Ltd. 32,146,735 32,146,735
Ruhi Construction Company Limited 46,084,916 33,465,440
Sabarmati Projects Pvt. Ltd. 177,311,184 177,311,184
Samay Properties Pvt. Ltd. 160,984,162 160,984,162
Sandwood Builders & Developers Pvt. Ltd. 39,890,324 39,890,324

125 126
Contd. 31.03.2013 31.03.2012
Sankoo Builders Pvt. Ltd. 210,409,932 223,293,933

Sanyog Builders Ltd. 74,833,675 91,398,225
Sarnath Realtors Ltd. 158,745,735 158,345,735
Simpson Estates (P) Ltd. 15,008,327 15,008,327
Somerville Developers Ltd. 240,328,559 239,138,523
Shrishti Buildwell Pvt. Ltd. 13,494,804 13,387,702
Sublime Properties Pvt. Ltd. 181,824,385 179,970,733
Supernal Corrugation (India) Ltd. 53,209,427 46,000,007
Tabas Estates Pvt. Ltd. 34,741,518 34,741,518
Unitech Alice Projects Pvt. Ltd. 42,540,832 42,540,832
Unitech Builders and Projects Ltd. - 9,765,514
Unitech High Vision Projects Pvt. Ltd. 55,089,995 55,089,995
Unitech Holdings Ltd. 13,463,704 13,463,704
Unitech Industries Ltd. 232,609,768 231,182,603
Unitech Infra Developers Ltd. 40,245,006 39,745,006
Unitech Infra Ltd. 3,800,000 3,800,000
Unitech Infra Properties Ltd. 13,250,742 13,250,742
Unitech Konar Projects Pvt. Ltd. 224,584,002 224,584,002
Unitech Property Management Pvt. Ltd. 113,419,312 113,419,312
Unitech Real Estate Builders Ltd. 1,409,415,765 1,849,389,674
Unitech Realty Builders Pvt. Ltd. 507,671,261 507,291,761
Unitech Realty Developers Ltd. 233,037,050 233,037,050
Unitech Real-tech Properties Ltd. 4,958,836 4,958,836
Unitech Realty Pvt. Ltd 20,557,518 17,822,320
Unitech Residential Resorts Ltd. 153,288,215 153,288,215
Unitech Samus Projects Pvt. Ltd. 21,885,744 21,885,744
Zanskar Builders Pvt. Ltd. 429,729,626 428,855,889
Zanskar Realty Pvt. Ltd. 200,568,750 200,068,750
Zanskar Relators Pvt. Ltd. 141,271,854 140,353,155
Total 11,333,631,670 11,884,304,560
20. OTHER CURRENT ASSETS 31.03.2013 31.03.2012
Unsecured, considered good unless stated otherwise

Projects in progress
On which revenue is not recognised

32,553,697,352 22,426,646,693
On which revenue is recognised
Estimated prot recognised 17,392,761,384 14,284,197,996

7,423,403,945 6,169,373,652
39,977,101,297 28,596,020,345
Accrued Interest receivable 20,495,225 74,934,524
Other assets 2,972,074 2,941,084
Total 40,000,568,596 28,673,895,953

21. REVENUE FROM OPERATIONS For the year For the year
ended ended
31.03.2013 31.03.2012
Income from construction activity 17,636,915 9,845,255

Income from sale of land 166,245,487 31,942,800
Income from sale of land development rights - 1,325,754,128
Income from rent receipts 45,654,716 58,537,003
Income from consultancy 634,113,816 698,312,298
Income from ongoing real estate projects 211,346,698 216,348,823
Income from completed real estate projects 117,982,256 57,591,884
Income recognised on percentage of completion method 9,337,934,895 9,754,218,262
Gain on sale of Investment in real estate projects - 726,560,158
Total 10,530,914,783 12,879,110,611
22. OTHER INCOME For the year For the year

ended ended
31.03.2013 31.03.2012
Interest income on
Bank deposits 65,817,532 43,319,196
Related parties 3,961,573,536 3,692,697,904
Others 231,885,252 217,238,764
Dividend income-(current investment) 5,892,192 41,705,381
Foreign exchange uctuation (net) 21,958,597 34,273,771
Prot on sale/disposal of tangible xed assets 834,190 490,629,518
Provision written back - 16,199,999
Excess liability written back 6,011,500 6,224,216
Miscellaneous income 439,549,545 344,515,221
Total 4,733,522,344 4,886,803,970
23. CHANGES IN INVENTORIES OF REAL ESTATE PROPERTIES,LAND,LAND DEVELOPMENT RIGHTS For the year For the year
AND WORK IN PROGRESS ended ended
31.03.2013 31.03.2012
Change in inventories of nished properties

Opening stock 73,346,668 79,310,388
21,508,360 5,963,720
Change in inventories of land
Opening stock 11,274,894,413 12,433,789,031
Add: Land procurement expense 3,797,760 -
Less: Transfer to project in progress (68,127,551) (1,158,894,618)
11,210,564,622 11,274,894,413
Less: Closing stock (11,210,564,622) (11,274,894,413)
- -
Change in inventories of land development rights
Opening stock 353,761,238 -
Add/(less) :Transfer from/ to project in progress (278,377,854) 353,761,238
75,383,384 353,761,238
19,678,639 -
Change in inventory of work in progress
Opening stock - 18,580,747
Less: Closing stock - -
- 18,580,747
Total 41,186,999 24,544,467

127 128
24. JOB AND CONSTRUCTION EXPENSES For the year For the year
ended ended
31.03.2013 31.03.2012
Materials 332,748 220,424

Consumable stores 590 4,163
Site travelling and conveyance 7,437 310,838
Rent at site 42,000 1,045,052
Other site expenses 767,007 3,483,219
Contract registration charges - 46,899
Joint ventures - job expenses 441,442 8,280,561
Transportation expenses - 7,370
Consultation fees and service charges 1,343,796 -
Sub-contracts and outside labour charges 20,712,913 127,066
Repairs and maintenance on others - 37,380
Other job and construction expenses - 1,160,923
Total 23,647,933 14,723,895
25. REAL ESTATE PROJECT EXPENDITURE For the year For the year
ended ended
31.03.2013 31.03.2012
Project cost- ongoing real estate project (refer note 32) 169,077,359 173,079,059
Project cost- real estate completed projects 329,188,523 595,762,221
Project cost- percentage of completion method 6,271,640,852 6,769,356,511
Cost of land sold 67,873,732 24,122,068
Loss on sale of investments in real estate projects 310,000,000 -
Cost of land development rights sold - 709,987,632
Total 7,147,780,466 8,272,307,491
26. EMPLOYEE BENEFITS EXPENSE For the year For the year
ended ended
31.03.2013 31.03.2012
Salaries and wages 1,241,070,602 1,141,761,929

Contribution to funds and dened benet expenses* 124,915,909 124,045,576
Staff welfare expenses 34,245,236 19,360,464
Total 1,400,231,747 1,285,167,969
* Includes expenditure on account of dened benet plans for gratuity and leave encashment amounting to 44,222,118 (Previous year - 51,812,699)
and provident fund amounting to 78,409,047(Previous year- 67,909,323)
27. BORROWING COSTS For the year For the year

ended ended
31.03.2013 31.03.2012
Interest on debentures 335,353,821 440,746,318

Interest to banks 1,569,297,437 2,228,442,941
Interest to nancial institutions 1,900,056,386 1,476,821,443
interest to others 3,444,700,991 2,638,736,175
Other borrowing cost 463,122,852 57,851,832
7,712,531,487 6,842,598,709
Less: Borrowing costs allocated to land advances and project in progress 4,668,665,329 4,043,247,472
Total 3,043,866,158 2,799,351,237

28. DEPRECIATION AND AMORTIZATION EXPENSE For the year For the year
ended ended
31.03.2013 31.03.2012
Depreciation of tangible xed assets 37,248,845 56,873,045

Impairment of tangible xed assets 18,728,371 10,886,594
Total 55,977,216 67,759,639
29. OTHER EXPENSES For the year For the year

ended ended
31.03.2013 31.03.2012
Telephone,postage & Information technology expenses 57,403,925 35,785,050

Printing & stationery 30,726,820 24,339,222
Travelling & conveyance 93,497,682 62,532,090
Legal & professional charges 170,088,439 184,200,046
Insurance expenses 761,264 620,386
Vehicle running expenses 32,814,287 28,519,078
Rent 128,442,735 95,216,088
Rates and taxes 1,467,492 348,330
Auditors remuneration
Audit fee* 19,257,034 16,464,720
for taxation matter 3,800,000 2,757,500
for other services 881,180 827,251
for reimbursement of expenses 344,500 330,900
Directors sitting fees 520,000 420,000
Directors Commission 10,000,000 10,000,000
Bank charges 16,681,773 4,929,286
Compensation & Penalty 1,650,000 -
Fixed assets written off - 8,179,795
Bad debts/advances written off 41,861,466 -
Investments written off - 17,200,500
Loss on sale of long-term investments - 6,013,628
Loss on sale of disposal of tangible xed assets 981,973 1,209,522
Provision for diminution in value of non current investment - -
Commission paid to selling agents 41,165,730 -
Advertising & promotional expenses 78,918,068 80,036,620
Other administrative & general expenses 156,555,130 129,460,163
Total 887,819,498 709,390,175
*Statutory audit fee includes payment of 571,634 (Previous year- 457,920) to branch auditor.
30 PRIOR PERIOD AND EXCEPTIONAL ITEMS For the year For the year
ended ended
31.03.2013 31.03.2012
Prior period expenses

Other expense - 1,581,533
Total - 1,581,533
31 EXTRAORDINARY ITEMS For the year For the year

ended ended
31.03.2013 31.03.2012
Provision for diminution in value of investment 345,000,000

Total 345,000,000 -

129 130
32. a) ACCOUNTING OF REAL ESTATE PROJECTS UNDERTAKEN UP TO 31st MARCH, 2004

The actual receipts and installments due of 211,346,698 (previous year 216,348,823) for the year from booking of plots/constructed
properties in ongoing real estate projects has been credited to revenue from operations. Against this, after ascertaining prots on estimate
basis as per accounting policy No. XII(A)(a) the balance of eighty percent is adjusted in real estate project expenditure. The nal adjustment of
prot/loss is being made on completion of respective project(s).
b) CONSTRUCTION CONTRACTS (Amount in )
Particulars 31.03.2013 31.03.2012

Contract revenue recognised as revenue for the year ended 17,636,915 9,845,255
Aggregate amount of contract costs incurred and recognised prots 23,325,133 13,812,636
The amount of customer advances outstanding for contracts in progress 8,691,063 8,691,063
The amount of retentions due from customers for contracts in progress 29,389,452 29,750,644
33. BENEFITS TO EMPLOYEES

As per Accounting Standard (AS)15 revised, Employee Benets, the disclosures of employee benets are as given below:
a) Dened contribution plans
Contributions recognized as expense for the year are as under: (Amount in )
Particulars 31.03.2013 31.03.2012

Employers contribution to ESI 317,908 515,483
Employers contribution to superannuation fund 34,356,789 32,429,572
b) Dened benet plan
The cost of providing gratuity and long term leave encashment are determined using the projected unit credit method on the base of actuarial
valuation techniques conducted at the end of the nancial year.
The following tables summarize the component of net benet expense in respect of gratuity and leave encashment recognized in the Statement
of Prot and Loss and Balance Sheet as per actuarial valuation as on 31st March, 2013
i. Expense recognized in the Statement of Prot and Loss (Amount in )

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Interest cost 11,461,755 9,943,992 4,296,653 3,811,644
Expected return on plan assets - - - -
Net actuarial (gain)/ loss recognized in the year (3,012,338) 7,545,679 (5,854,718) (1,571,703)
Expenses recognized in the Statement of Prot & Loss 29,229,699 35,527,425 14,992,419 16,285,274
ii. The amounts recognized in Balance Sheet & related analysis (Amount in )

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Fair value of plan assets as at the end of the year - - - -
Funded status (161,727,555) (143,271,935) (62,337,171) (53,708,162)
Net asset/(liability)recognized in Balance Sheet *(161,727,555) *(143,271,935) *(62,337,171) *(53,708,162)
*pertaining to current and non current portion as per table mentioned here-in-below:
(Amount in )

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Current portion 29,621,578 25,705,408 7,279,827 6,373,281
Non current portion 132,105,977 117,566,527 55,057,344 47,334,881

iii. Movement in the liability recognized in the Balance Sheet (Amount in )

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Opening net liability 143,271,935 116,988,144 53,708,162 44,842,869
Expenses as above 29,229,699 35,527,425 14,992,419 16,285,274
Benets paid (10,774,079) (9,243,634) (6,363,410) (7,419,981)
Closing net liability 161,727,555 143,271,935 62,337,171 53,708,162
iv. Change in present value of obligation (Amount in )

31.03.2013 31.03.2012 31.03.2013 31.03.2012
Present value of obligation as at the beginning of the 143,271,935 116,988,144 53,708,162 44,842,869
year
Interest cost 11,461,755 9,943,992 4,296,653 3,811,644
Benets paid (10,774,079) (9,243,634) (6,363,410) (7,419,981)
Actuarial (gain)/loss on obligation (3,012,338) 7,545,679 (5,854,718) (1,571,703)
v. Actuarial assumptions
Particulars Gratuity Leave Encashment

31.03.2013 31.03.2012 31.03.2013 31.03.2012
a) Mortality table IALM(1994-96) LIC(1994-96) IALM(1994-96) LIC(1994-96)
b) Discounting rate (per annum) 8.00% 8.50% 8.00% 8.50%
c) Rate of escalation in salary (per annum) 5.50% 6.00% 5.50% 6.00%
d) Rate of return on plan assets - - - -
e) Average working life 22.50 years 22.41 years 22.26 years 22.27 years
The estimates of future salary growth rates have taken into account the ination, seniority, promotion and other relevant factors on long
term basis.
Provident fund contributions are made to a trust administered by the Company. Pursuant to the Guidance Note issued by the Institute of
Actuaries of India, estimated obligation at year end based on actuarial valuation has indicated that there is no decit in this regard as at
Balance Sheet date.
34. SEGMENT REPORTING

Segment wise revenue, results & other information
The Company is primarily in the business of real estate development and related activities including construction, consultancy and rentals etc.
Further most of the business conducted is within the geographical boundaries of India.
In view of the above, in the opinion of the management and based on the organizational and internal reporting structure, the Companys business
activities as described above are subject to similar risks and returns. Further, since the business activities undertaken by the Company are
substantiating within India, in the opinion of the management, the business environment in India is considered to have similar risks and returns.
Consequently, the Companys business activities primarily represent a single business segment and the Companys operations in India represent
a single geographical segment.
35. RELATED PARTY DISCLOSURES
A) Name of related parties and nature of Wholly owned Subsidiaries: Wholly owned Subsidiaries:
relationship where control exists:
Akola Properties Ltd.* Alor Maintenance Pvt. Ltd.
Wholly owned Subsidiaries: Algoa Properties Pvt. Ltd.* Alor Projects Pvt. Ltd.*
Abohar Builders Pvt. Ltd.* Alice Builders Pvt. Ltd.* Alor Recreation Pvt. Ltd.*
Aditya Properties Pvt. Ltd.* Alkosi Ltd. Amaro Developers Pvt. Ltd. *
Agmon Builders Pvt. Ltd. Aller Properties Pvt. Ltd.* Amarprem Estates Pvt. Ltd.*
Agmon Projects Pvt. Ltd.* Alor Golf Course Pvt. Ltd. Amur Developers Pvt. Ltd.*

131 132
Wholly owned Subsidiaries: Wholly owned Subsidiaries: Wholly owned Subsidiaries:

Andes Estates Pvt. Ltd.* Dhauladhar Properties Pvt. Ltd. High Strength Projects Pvt. Ltd.
Andros Properties Pvt. Ltd. (upto 8.10.2012) High Vision Healthcare Pvt. Ltd.
(upto 8.10.2012) Dhaulagiri Builders Pvt. Ltd.* ILam Developers Pvt. Ltd.
Angers Properties Ltd.* Dhruva Realty Projects Ltd.* Impactlan Ltd.
(upto 8.10.2012) Dibang Properties Pvt. Ltd.* Insecond Ltd.
Angul Properties Pvt. Ltd.* Drass Projects Pvt. Ltd. Jalore Properties Pvt Ltd.*
Arahan Properties Pvt. Ltd.* Edward Developers Pvt. Ltd. Jorhat Properties Pvt. Ltd.
Arcadia Build-Tech Ltd. (upto 05.03.2012) Kerria Projects Pvt. Ltd. *
Arcadia Projects Pvt. Ltd.* Edward Properties Pvt. Ltd.
Kolkata International Convention Centre
Ardent Build-Tech Ltd.* (upto 8.10.2012)
Ltd. (upto 5.09.2011)
Askot Builders Pvt. Ltd.* Elbe Builders Pvt. Ltd.*
Konar Developers Pvt. Ltd.*
Avens Properties Pvt. Ltd. Elbrus Builders Pvt. Ltd. *
Kortel Ltd.
(upto 08.08.2011) Elbrus Developers Pvt. Ltd.
Koshi Builders Pvt. Ltd.
Avril Properties Pvt. Ltd. Elbrus Properties Pvt. Ltd. Landscape Builders Ltd.*
Azores Properties Ltd. * Empecom Corporation Lavender Builders Pvt. Ltd.
Bageris Ltd. Erebus Projects Pvt. Ltd. (upto 8.10.2012)
Bengal Unitech Universal Siliguri Erica Projects Pvt. Ltd. Lavender Developers Pvt. Ltd.*
Projects Ltd. * Erode Projects Pvt. Ltd. Lavender Infra-Developers Pvt. Ltd.
Bengal Unitech Universal Townscape Falcon Projects Pvt. Ltd. (upto 8.10.2012)
Ltd. * Fastnet Holdings Ltd. Lavender Projects Pvt. Ltd.
Bolemat Ltd. (upto 21.09.2011) Madison Builders Pvt. Ltd.* (Earlier
Boracim Ltd. Ficus Projects Pvt. Ltd. Known as Mangrove Builders Pvt. Ltd.)
Broomeld Builders Pvt. Ltd. * (upto 8.10.2012) Mahoba Builders Ltd.*
Broomeld Developers Pvt. Ltd. * Firisa Holdings Ltd. Mahoba Schools Ltd.*
Brucosa Ltd. Flores Projects Pvt. Ltd. Malva Realtors Pvt. Ltd.
Burley Holding Ltd. Flores Properties Ltd.* (upto 05.03.2012)
Flores Unitech Wireless Pvt.Ltd. Manas Realty Projects Pvt. Ltd.*
Bynar Properties Pvt. Ltd. *
(From 30.03.2013) Mandarin Developers Pvt. Ltd.
Cape Developers Pvt. Ltd.*
Gibson Developers Pvt. Ltd. Mandarin Projects Pvt. Ltd.
Cardus Projects Pvt. Ltd.* (upto 8.10.2012) Mangrove Projects Pvt. Ltd.
Cardus Properties Pvt. Ltd. Girnar Infrastructures Pvt. Ltd.* (upto 05.03.2012)
(upto 8.10.2012)
Global Perspectives Ltd.* Mansar Properties Pvt. Ltd.*
Clarence Projects Pvt. Ltd.*
Gordon Developers Pvt. Ltd. Marine Builders Pvt. Ltd.*
Clover Projects Pvt. Ltd. (upto 8.10.2012) Masla Builders Pvt. Ltd.*
Coleus Developers Pvt.Ltd.* Gordon Projects Pvt. Ltd. Mayurdhwaj Projects Pvt. Ltd.*
Colossal Infra-Developers Pvt. Ltd. (upto 8.10.2012)
Medlar Developers Pvt. Ltd.
Colossal Projects Pvt. Ltd.* Gramhuge Holdings Ltd.
Medwyn Builders Pvt. Ltd. *
Comegenic Ltd. Greenwood Projects Pvt. Ltd.*
MHW Hospitality Ltd.
Comfrey Developers Pvt. Ltd. Gretemia Holdings Ltd.
Miraj Builders Pvt. Ltd.
Cordia Projects Pvt. Ltd.* Halley Developers Pvt. Ltd.* (upto 05.03.2012)
Crimson Developers Pvt. Ltd.* Halley Projects Pvt. Ltd. Moore Builders Pvt. Ltd.*
Croton Developers Pvt. Ltd.* Hanak Developers Pvt. Ltd. Moore Developers Pvt. Ltd.
(upto 05.03.2012) (upto 8.10.2012)
Crowbel Ltd.
Harsil Builders Pvt. Ltd. Mount Everest Projects Pvt. Ltd.
Cynara Airlines Pvt. Ltd.*
(upto 8.10.2012) Harsil Properties Pvt. Ltd. Munros Projects Pvt. Ltd.
Dantas Properties Pvt. Ltd.* Hassan Properties Pvt. Ltd.* Nectrus Ltd.
Deoria Estates Pvt. Ltd. Hatsar Estates Pvt. Ltd.* Neil Schools Ltd.
(upto 8.10.2012) Havelock Estates Pvt. Ltd. (upto 05.03.2012)
Deoria Properties Ltd.* Havelock Investments Ltd.* Nene Properties Pvt. Ltd.
Deoria Realty Pvt. Ltd.* Havelock Realtors Ltd.* (upto 8.10.2012)
Devoke Developers Pvt. Ltd.* Havelock Schools Ltd.* New India Construction Co. Ltd.
Devon Builders Pvt. Ltd. * Helmand Projects Pvt. Ltd. Niger Projects Pvt. Ltd.
(upto 08.08.2011) (upto 05.03.2012)
Dhauladhar Projects Pvt. Ltd.
(upto 8.10.2012) High Strength Infra-Developers Pvt. Ltd. Nirvana Real Estate Projects Ltd.

Wholly owned Subsidiaries: Wholly owned Subsidiaries: Wholly owned Subsidiaries:

Nuwell Ltd.* Surfware Consultants Ltd. Unitech Karma Hotels Pvt. Ltd.
Ojos Developers Pvt. Ltd. Suru Properties Pvt. Ltd. (upto 05.03.2012)
Onega Properties Pvt. Ltd.* (upto 8.10.2012) Unitech Kochi-SEZ Ltd.*
Panchganga Projects Ltd.* Tabas Estates Pvt. Ltd.* Unitech Konar Projects Pvt. Ltd.
Panicum Projects Pvt. Ltd. Technosolid Ltd.* Unitech Landmark Builders Pvt. Ltd.
Parsley Developers Pvt. Ltd. Transdula Ltd. (upto 8.10.2012)
(upto 05.03.2012) Uni Homes Pvt. Ltd. Unitech Landscape Projects Pvt. Ltd.
Plassey Builders Pvt. Ltd.* Unitech Acorus Projects Pvt. Ltd. Unitech Malls Ltd.
Plassey Developers Pvt. Ltd. Unitech Agra Hi-Tech Township Ltd.* Unitech Manas Projects Pvt. Ltd.
(upto 28.04.2011) Unitech Alice Projects Pvt. Ltd.* Unitech Miraj Projects Pvt. Ltd.
Prasunder Estates Pvt. Ltd. Unitech Ardent Projects Pvt. Ltd.* Unitech Nelson Projects Pvt. Ltd.
Primrose Developers Pvt. Ltd.* Unitech Broadband Ltd. Unitech Ofce Fund Trustee Pte. Ltd.
Privet Developers Pvt. Ltd. (upto 05.03.2012) Unitech Overseas Ltd.
(upto 05.03.2012) Unitech Broadcast Ltd. Unitech Overseas Projects Ltd.
Puma Developers Pvt. Ltd. (upto 05.03.2012) (upto 25.09.2012)
(upto 05.03.2012) Unitech Builders & Projects Ltd.* Unitech Power Distribution Pvt. Ltd.
Purus Projects Pvt. Ltd. Unitech Builders Ltd. Unitech Power Projects Pvt. Ltd.
Purus Properties Pvt. Ltd.* Unitech Buildwell Pvt. Ltd* Unitech Power Pvt. Ltd.
Quadrangle Estates Pvt. Ltd. Unitech Business Parks Ltd.* Unitech Power Transmission Ltd.*
Reglina Holdings Ltd. Unitech Capital Pvt. Ltd.* Unitech Property Management Pvt. Ltd.*
Rhine Infrastructures Pvt. Ltd. Unitech Colossal Projects Pvt. Ltd. Unitech Real Estate Builders Ltd.*
Richmond Infrastructures Pvt. Ltd. Unitech Commercial & Residential Unitech Real Estate Developers Ltd.
(upto 8.10.2012) Projects Pvt. Ltd. Unitech Real Estate Management Pvt.
Risster Holdings Ltd. Unitech Commercial & Residential Ltd.*
Robinia Developers Pvt. Ltd. Developers Pvt. Ltd. (upto 05.03.2012) Unitech Real Tech Developers Pvt. Ltd.
Ruhi Construction Co. Ltd.* Unitech Country Club Ltd.* (upto 8.10.2012)
Sabarmati Projects Pvt. Ltd.* Unitech Cynara Projects Pvt. Ltd.* Unitech Real-Tech Properties Ltd.*
Samay Properties Pvt. Ltd.* Unitech Developers & Hotels Pvt. Ltd.* Unitech Realty Builders Pvt. Ltd.*
Samus Properties Pvt. Ltd. Unitech Entertainment Pvt. Ltd. Unitech Realty Constructions Pvt. Ltd.
(upto 8.10.2012) (upto 05.03.2012) (upto 05.03.2012)
Sandwood Builders & Developers Pvt. Unitech Global Ltd. Unitech Realty Developers Ltd.
Ltd.* Unitech Haryana SEZ Ltd. Unitech Realty Estates Pvt. Ltd.
Sangla Properties Pvt. Ltd.* (upto 05.03.2012) Unitech Realty Pvt. Ltd.*
Sankoo Builders Pvt. Ltd.* Unitech Hi-Tech Builders Pvt. Ltd. Unitech Realty Solutions Pvt. Ltd.
Sankoo Developers Pvt. Ltd.* Unitech Hi-Tech Infrastructures Pvt. Ltd. (upto 05.03.2012)
Sanyog Builders Ltd.* (upto 8.10.2012) Unitech Realty Ventures Ltd.*
Sanyog Properties Pvt. Ltd. Unitech Hi-Tech Projects Pvt. Ltd.* Unitech Reliable Projects Pvt. Ltd.*
Sarnath Realtors Ltd.* Unitech Hi-Tech Realtors Pvt. Ltd. Unitech Residential Resorts Ltd.*
Serveia Holdings Ltd. (upto 8.10.2012) Unitech Samus Projects Pvt. Ltd.*
Seyram Ltd. Unitech High Vision Projects Ltd.* Unitech Scotia Realtors Pvt. Ltd.
Shrishti Buildwell Pvt. Ltd.* Unitech Holdings Ltd.* (upto 8.10.2012)
Sibia Builders Pvt. Ltd. Unitech Hospitality Ltd.* Unitech Simpson Projects Pvt. Ltd.
(upto 8.10.2012) Unitech Hotel Services Pvt. Ltd. (upto 8.10.2012)
Simpson Estates Pvt. Ltd. Unitech Hotels & Projects Ltd. Unitech Telecom Holdings Ltd.
Sironi Properties Pvt. Ltd. Unitech Hotels Ltd. (upto 05.03.2012)
(upto 8.10.2012) Unitech Hyderabad Township Ltd.* Unitech Universal Developers Pvt. Ltd
Sirur Developers Pvt. Ltd. Unitech Industries & Estates Pvt. Ltd.* Unitech Universal Falcon Hotels Pvt. Ltd.
Somerville Developers Ltd.* Unitech Industries Ltd.* (upto 05.03.2012)
Spanwave Services Ltd. Unitech Infopark Ltd. Unitech Universal Hotels Pvt. Ltd.
Speciality Builders & Exporters Pvt. Ltd. Unitech Infra Ltd.* Unitech Universal Simpson Hotels Pvt. Ltd.
(upto 05.03.2012) Unitech Infra-Developers Ltd. Unitech Valdel Hotels Pvt. Ltd.
Sublime Developers Pvt. Ltd.* Unitech Infra-Projects Pvt. Ltd. Unitech Varanasi Hi-Tech Township Ltd.
Sublime Properties Pvt. Ltd.* Unitech Infra-Properties Ltd.* Unitech Wireless Ltd.
Supernal Corrugation (India) Ltd.* (upto 05.03.2012)

133 134
Wholly owned Subsidiaries: Wholly owned Subsidiaries: Other Subsidiaries :

United Techno-Con Pvt. Ltd. Zimuret Ltd. Unitech Hotels Pvt. Ltd.
(upto 05.03.2012) Unitech Hyderabad Projects Ltd. *
Vitex Properties Pvt. Ltd. Other Subsidiaries : Unitech Pioneer Nirvana Recreation Pvt.
(upto 05.03.2012) Bengal Unitech Hospitality Pvt. Ltd. Ltd. *
Volga Realtors Pvt. Ltd. Bengal Unitech Universal Infrastructures Unitech Vizag Projects Ltd. *
Vostok Builders Pvt. Ltd. Pvt. Ltd. * Unitech-Pioneer Recreation Ltd. *
(upto 8.10.2012) Bengal Universal Consultants Pvt. Ltd. * Vectex Ltd.
Zanskar Builders Pvt. Ltd.* Gurgaon Recreation Parks Ltd. * Unitech Libya for General Contracting
Zanskar Estates Pvt. Ltd. Havelock Properties Ltd. * and Real Estate Investment
(upto 8.10.2012) Unitech Acacia Projects Pvt. Ltd. * Unitech Hi-Tech Developers Ltd. *
Zanskar Projects Pvt. Ltd. Unitech Build-Con Pvt. Ltd. *Entities with which transactions exist
Zanskar Realtors Pvt. Ltd.* Unitech Hospitality Services Ltd. *
Zanskar Realty Pvt. Ltd.
B) Name and relationship of related parties where transaction exists:

i) Subsidiaries : As per * in the table mentioned in (A) above
ii) Joint ventures :
Arihant Unitech Realty Projects Ltd. Uni-Chand Builders Pvt. Ltd.

International Recreation Parks Pvt. Ltd. Unitech Developers and Projects Ltd.
North Town Estates Pvt. Ltd. Unitech Hi-Tech Structures Ltd.
S. B. Developers Ltd. Unitech Realty Projects Ltd.
Seaview Developers Ltd. Sarvmangalam Builders & Developers Pvt. Ltd.
Shantiniketan Properties Ltd. Shivalik Ventures Pvt. Ltd.
Shivalik Ventures City Developers Pvt. Ltd. Unival Willows Estate Pvt. Ltd.
iii) Associates :
Millennium Plaza Ltd. Simpson Unitech Wireless Pvt. Ltd.

iv) Key management personnel & their relatives :
Name Designation
Mr. Ramesh Chandra Chairman
Mr. Sanjay Chandra Managing director
Mr. Ajay Chandra Managing director
v) Group of individuals having signicant inuence over the Company & relatives of such individual(s):
Name Designation Relatives Relation

Ms. Minoti Bahri Non executive director Mr. Rahul Bahri Brother
vi) Enterprises owned or signicantly inuenced by key management personnel:
Mayfair Investments Pvt. Ltd. Simpson Unitech Wireless Pvt. Ltd.

Unitech Advisors (India) Pvt. Ltd.
vii) Enterprises owned or signicantly inuenced by group of individuals or their relatives who have control or signicant inuence over the
Company :
R. V. Techno Investments Pvt. Ltd.

In accordance with the requirement of para 26 of AS(18) Related Party Disclosures, items of similar nature have been disclosed in
aggregate by the type of related parties as described in B above. There are no transactions, which in the opinion of the management
warrants a special disclosure which effect the understanding of related party transactions in the nancial statement.

C) i) Summary of signicant related parties transactions carried out in ordinary course of business are as under: (Amount in )
Sl. Description Subsidiaries Associate / Key Enterprises Group of Total

No. joint ventures management owned or Individuals,
personnel signicantly relatives &
inuenced enterprises
by key owned or
management signicantly
personnel & inuenced by
their relatives them, who
have signicant
inuence over
the Company
1 Services received- 388,079,737 - - 2,808,760 - 390,888,497
Note (i) (105,238,661) (-) (-) (8,256,696) (-) (113,495,357)
2 Advances received- 12,632,669,010 830,220,321 - 690,000,000 - 14,152,889,331
Note (ii) (28,099,445,208) (85,470,767) (-) (313,571,229) (-) (28,498,487,204)
3 Advances paid- 7,339,307,002 161,920,031 - 740,057,156 - 8,241,284,189
Note (iii) (22,724,868,112) (62,421,236) (-) (294,657,959) (-) (23,081,947,307)
4 Investment in 6,037,707,689 100,000 - - - 6,037,807,689
shares-Note (iv) (1,805,192) (99,500,000) (-) (-) (-) (101,305,192)
5 Investment in 1 - - - - 1
Debentures -Note (v) (-) (-) (-) (-) (-) (-)
6 Sale of investments- 373,838,442 - - - - 373,838,442
Note (vi) (24,986,372) (-) (-) (-) (-) (24,986,372)
7 Share application - 837,000,000 - - - 837,000,000
money given- Note (-) (95,000,000) (-) (-) (-) (95,000,000)
(vii)
8 Share application 6,251,712,489 77,658,258 - - - 6,329,370,747
money received (-) (162,841,742) (-) (-) (-) (162,841,742)
back - Note(viii)
9 Services rendered- 225,408,334 560,714,355 - 450,000 - 786,572,689
Note (ix) (266,710,220) (469,805,055) (-) (-) (-) (736,515,275)
10 Interest paid- 154,941,792 - - - 8,75,000 155,816,792
Note (x) (44,464,050) (-) (-) (-) (875,000) (45,339,050)
11 Interest income- 3,961,573,536 - - - - 3,961,573,536
Note (xi) (3,692,697,904) (-) (-) (-) (-) (3,692,697,904)
12 Remuneration paid- - - 53,100,000 - 591,650 53,691,650
Note (xii) (-) (-) (53,600,000) (-) (591,650) (54,191,650)
Note (i)

Unitech Infra Ltd. 383,342,105
(55,943,532)
Unitech Property Management Pvt. Ltd. -
(41,601,004)
Note (ii)

Bengal Unitech Universal Infrastructures Pvt. Ltd. 2,484,543,241
(876,814,024)
Unitech Ardent Projects Pvt. Ltd. 2,114,695,000
(486,500,000)
Unitech Hi-Tech Developers Ltd. 1,238,286,466
(14,832,666,482)
Unitech Property Management Pvt. Ltd. 2,301,605,909
(952,462,704)

135 136
Note (iii)

Aditya Properties Pvt. Ltd. 957,852,964
(206,345)
Unitech Acacia Projects Pvt. Ltd. 38,831,853
(14,590,166,330)
Unitech Realty Pvt. Ltd. 1,150,526,479
(40,967,816)
Note (iv)

Greenwood Hospitality Pvt. Ltd. -
(24,500,000)
Nuwell Ltd. 2,331,786,431
(-)
Shivalik Ventures Pvt. Ltd. -
(75,000,000)
Technosolid Ltd. 3,425,926,058
(-)
Note (v)

Unitech Holdings Ltd. 1
(-)
Note (vi)

Havelock Investments Ltd. 7,501,250
(17,986,372)
Unitech Buildwell Pvt. Ltd. -
(7,000,000)
Unitech Property Management Pvt. Ltd. 366,337,192
(-)
Note (vii)

Shivalik Ventures City Developers Pvt. Ltd. 837,000,000
(-)
Unitech Amusement Parks Ltd. -
(95,000,000)
Note (viii)

Arihant Unitech Realty Projects Ltd. 77,658,258
(152,941,742)
Nuwell Ltd. 2,331,786,431
(-)
Technosolid Ltd. 3,425,926,058
(-)
Viviana Infra Developers Pvt. Ltd. -
(9,900,000)
Note (ix)

Bengal Unitech Universal Infrastructures Pvt. Ltd. 131,299,106
(113,147,087)
Seaview Developers Ltd. 110,558,264
(78,890,470)


Unitech Developers & Projects Ltd. 180,428,586
(199,007,332)
Unitech Hi-Tech Developers Ltd. 76,257,072
(108,423,647)
Unitech Hi-Tech Structures Ltd. 128,170,522
(109,350,598)
Note (x)

(-)
Global Perspectives Ltd. 59,642,767
(14,861,667)
Havelock Properties Ltd. -
(28,012,219)
-
Note (xi)

Unitech Acacia Projects Pvt. Ltd. 1,939,701,610
(1,342,062,725)
(595,347,835)
Unitech Hyderabad Projects Ltd. 435,215,724
(386,843,896)
Unitech Vizag Projects Ltd. 436,087,467
(356,961,228)
Note (xii)

Mr. Ramesh Chandra 19,116,000
(19,116,000)
Mr. Ajay Chandra 16,992,000
(17,242,000)
Mr. Sanjay Chandra 16,992,000
(17,242,000)

137 138
ii) Balance as at 31.03.2013 : (Amount in )
Sl. Description Subsidiaries Associate / joint Key Enterprises Group of Total

No ventures management owned or Individuals,
personnel signicantly relatives &
inuenced enterprises
by key owned or
management signicantly
personnel & inuenced
their relatives by them,
who have
signicant
inuence
over the
Company
1 Investment in shares 18,842,413,233 5,322,729,887 - - - 24,165,143,120
- Note (i) (13,178,543,986) (5,321,970,453) (-) (-) (-) (18,500,514,439)
2 Share Application 2,310,649,750 939,400,000 - - - 3,250,049,750
Money - Note (ii) (8,562,362,239) (180,058,258) (-) (-) (-) (8,742,420,497)
3 Loans & Advances 5,511,510,247 319,000,000 - 10,103,497 - 5,840,268,698
Received - Note (iii) (5,344,901,453) (1,854,000,000) (-) (59,315,997) (-) (7,258,217,450)
4 Loans & Advances 50,923,961,161 1,195,362,742 - - - 52,119,323,903
Given - Note (iv) (51,022,017,620) (362,309,466) (-) (-) (-) (51,384,327,086)
5 Trade Receivable - 369,594,026 216,721,155 - 345,046 - 586,315,181
Note (v) (1,179,541,712) (326,635,378) (-) (-) (-) (1,506,177,090)
6 Trade Payables - Note 711,443,724 - - - - 711,443,724
(vi) (231,662,631) (-) (-) (-) (-) (231,662,631)
7 Investment in - - - 1 - 1
debentures - Note (-) (-) (-) (-) (-) (-)
(vii)
Note (i)

Shivalik Ventures Pvt. Ltd. 4,910,200,000
(4,910,200,000)
Technosolid Limited 3,425,975,000
(48,942)
Unitech Overseas Ltd. 2,603,092,725
(2,603,092,725)
Note (ii)

Nuwell Ltd. -
(2,331,786,431)
Shivalik Venture City Developers Pvt. Ltd. 837,000,000
(-)
Technosolid Ltd. -
(3,425,926,058)
Unitech Infra Ltd. 2,306,000,000
(2,800,000,000)

Note (iii)

Aditya Properties Pvt. Ltd. 534,065,597
(841,984,958)
(-)
Shivalik Ventures Pvt. Ltd. -
(1,535,000,000)
Unitech Property Management Pvt. Ltd. 1,750,000,000
(980,705,287)
Unitech Realty Pvt. Ltd. -
(1,683,788,130)
Note (iv)

Unitech Acacia Projects Pvt. Ltd. 15,204,607,660
(13,965,544,358)
Unitech Residential Resorts Ltd. 5,844,122,635
(5,847,519,467)
Note (v)

(172,320,117)
Unitech Amusement Parks Ltd. 89,540,524
(89,540,524)
Unitech Country Club Ltd. 125,015,502
(127,131,044)
(319,519,920)
Unitech Holdings Ltd. -
(257,221,227)
Note (vi)

Gretemia Holdings Ltd. 100,000,000
(100,000,000)
Unitech Country Club Ltd. 1,591,225
(61,153,927)
Unitech Infra Ltd. 63,297,283
(32,486,275)
(36,288,993)
Note (vii)

Cestos Unitech Wireless Pvt. Ltd. 1
(-)

139 140
36. Pursuant to clause 32 of the listing agreement, the disclosures of amounts at the year end and the maximum amount of loans/ advances/
investments outstanding during the year are as follows:
i) Amount outstanding :
S.No. Description Net balance Dr./Cr. Net balance Dr./Cr.

31.03.2013 31.03.2012
( ) ( )
1 Abohar Builders Pvt. Ltd. 7,664,870 Dr. 7,570,686 Dr.
2 Aditya Properties Pvt. Ltd. 419,246,606 Cr. 727,165,967 Cr.
3 Agmon Projects Pvt. Ltd. 260,850,476 Dr. 258,437,404 Dr.
4 Akola Properties Ltd. 44,377,730 Dr. 44,377,730 Dr.
5 Algoa Properties Pvt. Ltd. 66,026,310 Dr. 66,026,310 Dr.
6 Aller Properties Pvt. Ltd. 32,552,960 Dr. 32,552,960 Dr.
7 Alor Projects Pvt. Ltd. 443,264,657 Dr. 437,586,566 Dr.
8 Alor Recreation Pvt. Ltd. 2,148,565 Dr. 1,500,860 Dr.
9 Amarprem Estates Pvt. Ltd. 22,164,182 Dr. 21,718,045 Dr.
10 Amaro Developers Pvt. Ltd. 39,587,151 Dr. 39,587,151 Dr.
11 Amur Developers Pvt. Ltd. 74,516,420 Dr. 74,516,420 Dr.
12 Andes Estates Pvt. Ltd. 30,243,718 Dr. 30,243,718 Dr.
13 Angul Properties Pvt. Ltd. 10,291,155 Dr. 10,291,155 Dr.
14 Arcadia Build- Tech Ltd. - - 500,000 Dr.
15 Arcadia Projects Pvt. Ltd. - - 1,539,441 Dr.
16 Ardent Build-Tech Ltd. 73,785,022 Dr. 73,681,651 Dr.
17 Arahan Properties Pvt. Ltd. 10,125,940 Dr. 10,125,940 Dr.
18 Arihant Unitech Realty Projects Ltd. 18,095,598 Dr. 46,971,373 Dr.
19 Askot Builders Pvt. Ltd. 26,414,601 Dr. 26,414,601 Dr.
20 Azores Properties Ltd. 128,604,761 Dr. 128,604,761 Dr.
21 Bengal Unitech Universal Infrastructures Pvt. Ltd. 605,905,701 Cr. 1,278,796,545 Dr.
22 Bengal Unitech Universal Siliguri Projects Ltd. 1,143,048,205 Dr. 1,154,548,205 Dr.
23 Bengal Unitech Universal Townscape Ltd. 26,933,171 Dr. 13,221,060 Dr.
24 Bengal Universal Consultants Pvt. Ltd. 22,815,091 Dr. 22,202,558 Dr.
25 Broomeld Builders Pvt. Ltd. 343,676,257 Dr. 343670936 Dr.
26 Broomeld Developers Pvt. Ltd. 145,696,926 Dr. 168,538,607 Dr.
27 Burley Holdings Ltd. - - 43 Cr.
28 Bynar Properties Pvt. Ltd. 40,891,096 Dr. 40,891,096 Dr.
29 Cape Developers Pvt. Ltd. 107,212,242 Dr. 107,212,242 Dr.
30 Cardus Projects Pvt. Ltd. 116,767,316 Dr. 116,512,630 Dr.
31 Clarence Projects Pvt. Ltd. 18,493,900 Dr. 18,493,900 Dr.
32 Coleus Developers Pvt. Ltd. 3,850,000 Cr. 3,850,000 Cr.
33 Colossal Projects Pvt. Ltd. 1,413,983,552 Dr. 1,464,495,059 Dr.
34 Cordia Projects Pvt. Ltd. 28,176,629 Dr. 28,176,629 Dr.
35 Crimson Developers Pvt. Ltd. 303,521,832 Dr. 300,194,954 Dr.
36 Croton Developers Pvt. ltd. 515,514,254 Dr. 515,514,254 Dr.
37 Dantas Properties Pvt. Ltd. 64,660,510 Dr. 64,660,510 Dr.
38 Deoria Properties Ltd. 89,944,102 Dr. 89,944,102 Dr.
39 Deoria Realty Pvt. Ltd. 34,521,295 Dr. 78,491,787 Dr.
40 Devoke Developers Pvt. Ltd. 6,709,319 Dr. 1,209,319 Dr.
41 Devon Builders Pvt. Ltd. 22,886,520 Dr. 22,886,520 Dr.
42 Dhaulagiri Builders Pvt. Ltd. 38,302,900 Dr. 38,302,900 Dr.
43 Dhruva Realty Projects Ltd. 372,742,725 Dr. 372,346,145 Dr.
44 Dibang Properties Pvt. Ltd. 236,358,966 Dr. 235,235,694 Dr.
45 Drass Projects Pvt. Ltd. 39,801,904 Dr. 39,801,904 Dr.
46 Elbe Builders Pvt. Ltd. 20,374,310 Dr. 20,374,310 Dr.


31.03.2013 31.03.2012
( ) ( )
47 Elbrus Builders Pvt. Ltd. 7,534,110 Cr. 9,800,000 Cr.
48 Elbrus Developers Pvt.Ltd. 35,356,380 Dr. 35,356,380 Dr.
49 Elbrus Properties Pvt. Ltd. 111,964,344 Dr. 111,964,344 Dr.
50 Erebus Projects Pvt. Ltd. 1,001,675,000 Dr. 1,001,675,000 Dr.
51 Flores Projects Pvt. Ltd. 1,919,405 Cr. 1,919,405 Cr.
52 Flores Properties Ltd. 51,175,528 Dr. 51,175,528 Dr.
53 Girnar Infrastructures Pvt. Ltd. 353,418,038 Dr. 349,107,624 Dr.
54 Global Perspectives Ltd. 210,674,329 Cr. 416,799,406 Cr.
55 Gretemia Holdings Ltd. 100,000,000 Cr. 100,000,000 Cr.
56 Greenwood Projects Pvt. Ltd. 19,979,555 Dr. 19,979,555 Dr.
57 Gurgaon Recreation Park Ltd. 38,648,037 Dr. 35,838,673 Dr.
58 Halley Developers Pvt. Ltd. 31,643,032 Dr. 31,643,032 Dr.
59 Harsil Builders Pvt. Ltd. 40,348,076 Dr. 40,348,076 Dr.
60 Hassan Properties Pvt. Ltd. 51,823,899 Dr. 51,823,899 Dr.
61 Hatsar Estates Pvt. Ltd. 6,000,000 Dr. 8,000,000 Dr.
62 Havelock Estates Pvt. Ltd. 79,791,019 Dr. 79,791,019 Dr.
63 Havelock Investments Ltd. 3,312,895 Cr. 3,513,628 Cr.
64 Havelock Properties Ltd. 2,065,928,247 Dr. 1,243,933,724 Dr.
65 Havelock Realtors Ltd. 131,165,920 Dr. 131,165,920 Dr.
66 Havelock Schools Ltd. 5,967,494 Dr. 5,939,202 Dr.
67 High Strength Projects Pvt. Ltd. 9,545,472 Dr. 9,545,472 Dr.
68 International Recreation Parks Pvt. Ltd. 376,956 Dr. 1,300,764 Dr.
69 Jalore Properties Pvt. Ltd. - - 47,434,144 Dr.
70 Kerria Projects Pvt. Ltd. 40,285,241 Dr. 40,285,241 Dr.
71 Konar Developers Pvt. Ltd. 9,405,702 Cr. 7,405,702 Cr.
72 Koshi Builders Pvt. Ltd. 80,148,869 Dr. 80,148,869 Dr.
73 Landscape Builders Ltd. 150,320,989 Dr. 153,555,380 Dr.
74 Lavender Developers Pvt. Ltd. 14,622,328 Dr. 14,622,328 Dr.
75 Lavender Projects Pvt. Ltd. 49,782,854 Dr. 49,782,854 Dr.
76 Mahoba Builders Pvt. Ltd. 6,730,000 Dr. 6,530,000 Dr.
77 Mahoba Schools Ltd. 5,960,702 Dr. 5,940,702 Dr.
78 Mansar Properties Pvt. Ltd. 8,963,705 Dr. 8,963,705 Dr.
79 Manas Realty Projects Pvt. Ltd. 12,688,251 Dr. 12,152,479 Dr.
80 Madison Builders Pvt. Ltd. 41,682,000 Dr. 41,682,000 Dr.
81 Marine Builders Pvt. Ltd. 48,895,471 Dr. 48,895,471 Dr.
82 Masla Builders Pvt. Ltd. 23,210,976 Dr. 23,109,740 Dr.
83 Mayfair Investments Pvt. Ltd. - - 50,000,000 Cr.
84 Mayurdhwaj Projects Pvt. Ltd. 150,905,304 Dr. 177,103,475 Dr.
85 Medlar Developers Pvt. Ltd. 52,700,672 Cr. 52,700,672 Cr.
86 Medwyn Builders Pvt. Ltd. 38,757,930 Dr. 38,757,930 Dr.
87 Millennium Plaza Ltd. - - 1,960,564 Dr.
88 Moore Builders Pvt. Ltd. 77,732,170 Dr. 77,732,170 Dr.
89 Munros Projects Pvt. Ltd. 20,150,000 Dr. 20,150,000 Dr.
90 New India Construction Co. Ltd. 6,295,538 Cr. 6,295,538 Cr.
91 North Town Estates Pvt. Ltd. 3,400,000 Dr. 3,409,158 Dr.
92 Onega Properties Pvt. Ltd. 288,706,919 Dr. 291,174,688 Dr.
93 Panchganga Projects Ltd. 7,160,000 Dr. 7,060,000 Dr.
94 Plassey Builders Pvt. Ltd. 41,663,495 Dr. 41,663,495 Dr.
95 Prasunder Estates Pvt. Ltd. 415,037,963 Dr. 415,037,963 Dr.

141 142

31.03.2013 31.03.2012
( ) ( )
96 Primrose Developers Pvt. Ltd. 97,919,432 Dr. 97,919,432 Dr.
97 Purus Projects Pvt. Ltd. 850,000 Cr. 850,000 Cr.
98 Purus Properties Pvt. Ltd. 253,058,405 Dr. 251,963,448 Dr.
99 Quadrangle Estates Pvt. Ltd. 32,656,628 Dr. 32,656,628 Dr.
100 R. V. Techno Investments Pvt. Ltd. 10,103,497 Cr. 9,315,997 Cr.
101 Ruhi Construction Co. Ltd. 46,710,259 Dr. 34,090,783 Dr.
102 S. B. Developers Ltd. - - 1,345,721 Dr.
103 Sabarmati Projects Pvt. Ltd. 177,311,184 Dr. 177,311,184 Dr.
104 Samay Properties Pvt. Ltd. 160,984,162 Dr. 160,984,162 Dr.
105 Sandwood Builders & Developers Pvt. Ltd. 39,890,324 Dr. 39,890,324 Dr.
106 Sangla Properties Pvt. Ltd. 1,790,000 Dr. 1,690,000 Dr.
107 Sankoo Builders Pvt. Ltd. 210,409,932 Dr. 223,293,933 Dr.
108 Sanyog Builders Ltd. 74,833,675 Dr. 91,398,225 Dr.
109 Sarnath Realtors Ltd. 158,745,735 Dr. 158,345,735 Dr.
110 Sarvmanglam Builders & Developers Pvt. Ltd. 15,418,263 Dr. 18,418,263 Dr.
111 Seaview Developers Ltd. 16,854,065 Cr. 32,716,469 Dr.
112 Shantiniketan Properties Ltd. 22,691,675 Dr. 6,304,559 Dr.
113 Shrishti Buildwell Pvt. Ltd. 13,494,804 Dr. 13,387,702 Dr.
114 Shivalik Ventures Pvt. Ltd. 1,180,916,138 Cr. 1,179,260,748 Cr.
115 Simpson Estates Pvt. Ltd. 15,008,327 Dr. 15,008,327 Dr.
116 Simpson Unitech Wireless Pvt. Ltd. 319,000,000 Cr. 319,000,000 Cr.
117 Somerville Developers Ltd. 240,328,559 Dr. 239,138,523 Dr.
118 Sublime Properties Pvt. Ltd. 181,824,385 Dr. 179,970,733 Dr.
119 Supernal Corrugation (India) Ltd. 23,314,589 Dr. 16,105,169 Dr.
120 Tabas Estates Pvt. Ltd. 34,741,518 Dr. 34,741,518 Dr.
121 Unitech Acacia Projects Pvt. Ltd. 15,204,607,660 Dr. 13,965,544,358 Dr.
122 Unitech Advisor (India) Pvt. Ltd. 345,046 Dr. - -
123 Unitech Agra Hi Tech Township Ltd. 64,707,211 Cr. 79,320,216 Cr.
124 Unitech Alice Projects Pvt. Ltd. 42,540,832 Dr. 42,540,832 Dr.
125 Unitech Amusement Parks Ltd. 89,540,524 Dr. 89,540,524 Dr.
126 Unitech Ardent Projects Pvt. Ltd. 295,992,978 Cr. 1,203,524,436 Dr.
127 Unitech Builders Ltd. 20,219,316 Cr. 20,219,316 Cr.
128 Unitech Builders & Projects Ltd. - - 10,265,514 Dr.
129 Unitech Buildwell Pvt. Ltd. - - 2,168,314 Dr.
130 Unitech Business Parks Ltd. 81,292,903 Cr. 80,969,816 Cr.
131 Unitech Capital Pvt. Ltd. 5,026,970 Cr. 5,026,991 Cr.
132 Unitech Country Club Ltd. 28,979,227 Dr. 32,430,427 Dr.
133 Unitech Colossal Projects Pvt. Ltd. 700,000 Cr. 700,000 Cr.
134 Unitech Developers & Hotels Pvt. Ltd. 553,115,266 Cr. 553,845,266 Cr.
135 Unitech Developers & Projects Ltd. 12,217,671 Dr. 79,591,566 Dr.
136 Unitech Hi-Tech Developers Ltd. 114,002,933 Dr. 844,229,470 Dr.
137 Unitech Hi-Tech Project Pvt. Ltd. 312,773,010 Dr. 299,578,030 Dr.
138 Unitech Hi-Tech Structures Ltd. 29,620,669 Dr. 45,581,803 Dr.
139 Unitech High Vision Projects Ltd. 55,089,995 Dr. 55,089,995 Dr.
140 Unitech Holdings Ltd. 596,302,716 Dr. 270,684,931 Dr.
141 Unitech Hospitality Ltd. 808,207 Cr. - -
142 Unitech Hospitality Services Ltd. 408,284,233 Cr. 390,746,366 Cr.
143 Unitech Hotels Pvt. Ltd. 112,500,000 Cr. 112,500,000 Cr.
144 Unitech Hyderabad Projects Ltd. 3,509,956,761 Dr. 3,108,501,150 Dr.


31.03.2013 31.03.2012
( ) ( )
145 Unitech Hyderabad Township Ltd. 3,174,594,244 Dr. 2,788,287,021 Dr.
146 Unitech Industries Ltd. 232,609,768 Dr. 231,182,603 Dr.
147 Unitech Industries & Estates Pvt. Ltd. 10,964,580 Dr. 10,839,580 Dr.
148 Unitech Infopark Ltd. 174,608,116 Dr. 172,589,510 Dr.
149 Unitech Infra Ltd. 369,311,658 Dr. 299,787,354 Dr.
150 Unitech Infra-Developers Ltd. 40,245,006 Dr. 40,245,006 Dr.
151 Unitech Infra Properties Ltd. 13,250,742 Dr. 13,218,872 Dr.
152 Unitech Kochi SEZ Ltd. 214,949,094 Dr. 214,948,060 Dr.
153 Unitech Konar Projects Pvt. Ltd. 224,584,002 Dr. 224,584,002 Dr.
154 Unitech Manas Projects Pvt. Ltd. 20,150,000 Dr. 20,150,000 Dr.
155 Unitech Nelson Projects Pvt. Ltd. 20,150,000 Dr. 20,150,000 Dr.
156 Unitech Pioneer Recreation Ltd. 173,978 Cr. 144,879 Cr.
157 Unitech Pioneer Nirvana Recreation Pvt. Ltd. 6,806,685 Dr. 6,831,652 Dr.
158 Unitech Power Transmission Ltd. 170,379,853 Dr. 269,850,811 Dr.
159 Unitech Property Management Pvt. Ltd. 2,181,315,998 Cr. 903,574,968 Cr.
160 Unitech Real Estate Builders Ltd. 1,393,982,160 Dr. 2,784,172,176 Dr.
161 Unitech Real Estate Management Pvt. Ltd. 2,348,967 Dr. 1,461,715 Cr.
162 Unitech Real-Tech Properties Ltd. 4,958,836 Dr. 4,958,836 Dr.
163 Unitech Realty Builders Pvt. Ltd. 507,671,261 Dr. 507,291,761 Dr.
164 Unitech Realty Developers Ltd. 234,704,072 Dr. 234,704,072 Dr.
165 Unitech Realty Pvt. Ltd. 553,318,418 Cr. 1,602,131,965 Cr.
166 Unitech Realty Projects Ltd. 16,722,180 Dr. 6,064,828 Dr.
167 Unitech Reliable Projects Pvt. Ltd. 30,610,794 Dr. 5,370,923 Cr.
168 Unitech Residential Resorts Ltd. 5,844,122,635 Dr. 5,847,519,467 Dr.
169 Unitech Samus Projects Pvt. Ltd. 21,885,744 Dr. 21,885,744 Dr.
170 Unitech Vizag Projects Ltd. 3,674,531,405 Dr. 3,013,863,597 Dr.
171 Zanskar Builders Pvt. Ltd. 429,729,626 Dr. 428,855,889 Dr.
172 Zanskar Realtors Pvt. Ltd. 141,271,854 Dr. 140,353,155 Dr.
173 Zanskar Realty Pvt. Ltd. 200,568,750 Dr. 200,568,750 Dr.
ii) Loans to subsidiary companies
S. No. Name of Company Maximum balance Maximum balance

during the year during the year
ended 31.03.2013 ended 31.03.2012
( ) ( )
1 Abohar Builders Pvt. Ltd. 7,664,870 25,003,500
2 Aditya Properties Pvt. Ltd. 116,476,331 475,614,586
3 Agmon Builders Pvt. Ltd. - 2,953,000
4 Agmon Projects Pvt. Ltd. 260,850,476 258,441,400
5 Akola Properties Ltd. 44,380,566 44,390,925
6 Algoa Properties Pvt. Ltd. 66,026,310 66,041,008
7 Alice Builders Pvt. Ltd. 903 -
8 Aller Properties Pvt. Ltd. 32,552,960 32,559,960
9 Alor Projects Pvt. Ltd. 443,266,831 437,586,566
10 Alor Recreation Pvt. Ltd. 2,148,565 1,500,860
11 Amaro Developers Pvt. Ltd. 39,587,495 39,587,151
12 Amarprem Estates Pvt. Ltd. 22,164,182 40,511,302
13 Amur Developers Pvt. Ltd. 74,516,420 74,538,724
14 Andes Estates Pvt. Ltd. 30,243,718 30,247,710
15 Angers Properties Ltd. - 5,795,000

143 144

ended 31.03.2013 ended 31.03.2012
( ) ( )
16 Angul Properties Pvt. Ltd. 10,291,155 10,298,155
17 Arahan Properties Pvt. Ltd. 10,125,940 10,125,940
18 Arcadia Build- Tech Ltd. - 510,000
19 Arcadia Projects Pvt. Ltd. 40,539,441 9,539,441
20 Ardent Build-Tech Ltd. 73,785,022 73,181,651
21 Arihant Unitech Realty Projects Ltd. - 49,552,758
22 Askot Builders Pvt. Ltd. 26,415,733 26,418,161
23 Avens Properties Pvt. Ltd. - 124,363
24 Azores Properties Ltd. 128,608,261 172,941,184
25 Bengal Unitech Universal Infrastructures Pvt. Ltd. 1,106,476,428 1,560,278,592
26 Bengal Unitech Universal Siliguri Projects Ltd. 1,154,548,205 1,154,548,205
27 Bengal Unitech Universal Townscape Ltd. 14,020,235 31,000,000
28 Bengal Universal Consultants Pvt. Ltd. 12,011,905 22,202,558
29 Broomeld Builders Pvt. Ltd. 343,676,257 394,358,252
30 Broomeld Developers Pvt. Ltd. 168,538,607 254,288,189
31 Bynar Properties Pvt. Ltd. 40,891,235 40,891,096
32 Cape Developers Pvt Ltd. 107,212,692 235,881,753
33 Cardus Projects Pvt. Ltd. 117,077,941 117,675,130
34 Cardus Properties Pvt. Ltd. - 8,000
35 Clarence Projects Pvt. Ltd. 18,493,900 18,496,900
36 Colossal Infra Developers Pvt. Ltd. - 8,000
37 Colossal Projects Pvt. Ltd. 1,509,125,629 1,403,242,911
38 Cordia Projects Pvt. Ltd. 28,177,133 28,185,467
39 Crimson Developers Pvt. Ltd. 303,523,235 300,194,954
40 Croton Developers Pvt. Ltd. 515,515,932 515,514,254
41 Dantas Properties Pvt. Ltd. 64,673,426 64,682,874
42 Deoria Properties Ltd. 89,622,602 89,944,102
43 Deoria Realty Pvt. Ltd. 86,179,666 155,830,907
44 Devoke Developers Pvt. Ltd. 6,709,319 8,146,582
45 Devon Builders Pvt. Ltd. 22,887,410 22,886,520
46 Dhauladhar Projects Pvt Ltd. - 5,000
47 Dhaulagiri Builders Pvt. Ltd. 38,302,973 38,303,484
48 Dhruva Realty Projects Ltd. 372,742,725 442,859,419
49 Dibang Properties Pvt. Ltd. 236,358,966 240,729,194
50 Drass Projects Pvt. Ltd. 39,801,904 39,801,904
51 Elbe Builders Pvt. Ltd. 20,374,310 20,381,310
52 Elbrus Developers Pvt. Ltd. 35,356,380 37,856,380
53 Elbrus Properties Pvt. Ltd. 111,964,344 161,334,881
54 Erebus Projects Pvt. Ltd. 1,001,675,000 1,001,675,000
55 Erica Projects Pvt. Ltd. - 80,007,000
56 Erode Projects Pvt. Ltd. - 80,003,000
57 Flores Projects Pvt. Ltd. - 1,530,595
58 Flores Properties Ltd. 51,177,434 51,184,944
59 Gibson Developers Pvt. Ltd. - 6,000
60 Girnar Infrastructures Pvt. Ltd. 353,418,038 349,107,624
61 Gordon Developers Pvt. Ltd. - 5,000
62 Gordon Projects Pvt. Ltd. - 4,000
63 Greenwood Projects Pvt. Ltd. 19,993,799 78,111,035


ended 31.03.2013 ended 31.03.2012
( ) ( )
64 Gurgaon Recreation Park Ltd. 21,091,529 179,237,187
65 Halley Developers Pvt. Ltd. 31,646,121 31,647,306
66 Halley Projects Pvt. Ltd. - 7,000
67 Harsil Builders Pvt. Ltd. 40,348,076 88,722,646
68 Harsil Properties Pvt. Ltd. - 7,000
69 Hassan Properties Pvt. Ltd. 51,825,863 51,828,547
70 Hatsar Estates Pvt. Ltd. 8,000,000 8,007,000
71 Havelock Estates Pvt. Ltd. 79,791,019 181,777,824
72 Havelock Investments Ltd. - 2,500,000
73 Havelock Properties Ltd. 2,046,901,516 1,243,933,724
74 Havelock Realtors Ltd. 131,167,140 131,179,388
75 Havelock Schools Ltd. 5,967,494 5,939,202
76 Helmand Projects Pvt. Ltd. - 124,363
77 High Strength Projects Pvt. Ltd. 9,545,472 3,200
78 Ilam Developers Pvt. Ltd. - 8,000
79 International Recreation Parks Pvt. Ltd. - 34,800,764
80 Jalore Properties Pvt. Ltd. 47,434,144 59,024,265
81 Kerria Projects Pvt. Ltd. 4,028,704 40,285,241
82 Kolkata International Convention Centre Ltd. - 1,123,067,000
83 Koshi Builders Pvt. Ltd. 80,148,869 80,148,869
84 Landscape Builders Ltd. 154,638,208 174,409,066
85 Lavender Developers Pvt. Ltd. 14,622,625 14,630,328
86 Lavender Infra-Developers Pvt. Ltd. - 10,518,000
87 Lavender Projects Pvt. Ltd. 49,782,854 49,782,854
88 Mahoba Builders Pvt. Ltd. 6,730,000 9,230,000
89 Mahoba Schools Ltd. 5,960,702 5,940,702
90 Manas Realty Projects Pvt. Ltd. 12,688,251 12,152,479
91 Madison Builders Pvt. Ltd. 41,682,000 41,683,304
92 Mansar Properties Pvt. Ltd. 8,983,031 84,214,602
93 Marine Builders Pvt. Ltd. 48,895,765 48,905,544
94 Masla Builders Pvt. Ltd. 23,210,976 154,656,437
95 Mayurdhawaj Projects Pvt. Ltd. 177,103,475 265,908,354
96 Medlar Developers Pvt. Ltd. - 224,594,504
97 Medwyn Builders Pvt. Ltd. 38,758,254 38,757,930
98 Moore Builders Pvt. Ltd. 77,732,170 77,857,691
99 Moore Developers Pvt. Ltd. - 4,000
100 New India Construction Co. Ltd. - 184,738,525
101 North Town Estates Pvt. Ltd. - 50,909,158
102 Onega Properties Pvt. Ltd. 291,404,300 485,000,563
103 Panchganga Projects Ltd. 7,160,000 7,060,000
104 Plassey Builders Pvt. Ltd. 41,664,563 41,673,198
105 Prasunder Estates Pvt. Ltd. 415,037,963 415,037,963
106 Primrose Developers Pvt. Ltd. 97,919,432 108,434,978
107 Purus Properties Pvt. Ltd. 253,059,810 251,963,448
108 Quadrangle Estates Pvt. Ltd. 32,656,628 32,657,608
109 Rhine Infrastructures Pvt. Ltd. - 8,000
110 Richmond Infrastructures Pvt. Ltd. - 5,000
111 Robinia Developers Pvt. Ltd. - 14,000

145 146

ended 31.03.2013 ended 31.03.2012
( ) ( )
112 Ruhi Construction Co. Ltd. 46,710,259 219,351,653
113 Sabarmati Projects Pvt. Ltd. 177,314,184 177,321,743
114 Samay Properties Pvt. Ltd. 160,987,882 161,384,162
115 Sandwood Builders & Developers Pvt. Ltd. 39,890,758 39,890,324
116 Sangla Properties Pvt. Ltd. 1,790,000 1,940,000
117 Sankoo Builders Pvt. Ltd. 223,303,015 371,546,490
118 Sanyog Builders Ltd. 91,398,225 181,406,728
119 Sanyog Properties Pvt. Ltd. - 12,000
120 Sarnath Realtors Ltd. 158,745,735 181,628,918
121 Shrishti Buildwell Pvt. Ltd. 13,494,804 13,391,687
122 Sibia Builders Pvt. Ltd. - 9,000
123 Simpson Estates Pvt. Ltd. 15,008,327 15,008,327
124 Somerville Developers Ltd. 240,328,559 295,042,332
125 Sublime Developers Pvt. Ltd. - 6,500
126 Sublime Properties Pvt. Ltd. 181,824,385 197,313,724
127 Supernal Corrugation (India) Ltd. 23,314,589 190,022,063
128 Tabas Estates Pvt. Ltd. 34,743,598 34,758,029
129 Unitech Acacia Projects Pvt. Ltd. 15,204,607,660 13,965,544,358
130 Unitech Alice Projects Pvt. Ltd. 42,542,119 42,557,928
131 Unitech Ardent Projects Pvt. Ltd. 1,119,069,436 1,427,505,355
132 Unitech Build-Con Pvt. Ltd. - 1,167,598,530
133 Unitech Builders & Projects Ltd. 122,414,530 122,911,159
134 Unitech Builders Ltd. - 70,172,077
135 Unitech Buildwell Pvt. Ltd. 2,197,461 2,868,314
136 Unitech Capital Pvt. Ltd. - 10,073,009
137 Unitech Country Club Ltd. - 125,015,502
138 Unitech Cynara Projects Pvt. Ltd. 687 -
139 Unitech Developers & Projects Ltd. - 79,591,566
140 Unitech High Vision Projects Ltd. 55,093,025 90,880,496
141 Unitech Hi-Tech Developers Ltd. 535,333,247 14,721,604,965
142 Unitech Hi-Tech Projects Pvt. Ltd. 312,773,010 299,578,030
143 Unitech Holdings Ltd. 876,614,362 469,677,295
144 Unitech Hospitality Ltd. - 21,437,650
145 Unitech Hotels & Projects Ltd. - 246,891,314
146 Unitech Hyderabad Projects Ltd. 3,509,956,761 3,108,501,150
147 Unitech Hyderabad Township Ltd. 3,174,594,244 2,476,149,805
148 Unitech Industries & Estates Pvt. Ltd. 10,964,580 10,839,580
149 Unitech Industries Ltd. 232,626,396 305,519,577
150 Unitech Infopark Ltd. 172,589,510 173,424,304
151 Unitech Infra Ltd. 423,007,329 333,919,824
152 Unitech Infra Properties Ltd. 13,218,872 20,530,263
153 Unitech Infra-Developers Ltd. 40,745,006 40,245,006
154 Unitech Kochi SEZ Ltd. 214,949,094 219,641,426
155 Unitech Konar Projects Pvt. Ltd. 224,584,002 224,584,002
156 Unitech Power Transmission Ltd. 270,000,000 308,350,811
157 Unitech Property Management Pvt. Ltd. 113,419,312 117,107,979
158 Unitech Real Estate Builders Ltd. 2,934,373,131 11,197,272,176
159 Unitech Real-Tech Properties Ltd. 4,966,206 144,350,780


ended 31.03.2013 ended 31.03.2012
( ) ( )
160 Unitech Realty Builders Pvt. Ltd. 507,671,261 507,291,761
161 Unitech Realty Developers Ltd. 234,704,072 234,704,072
162 Unitech Realty Ventures Ltd. 1,114 3,000
163 Unitech Reliable Projects Pvt. Ltd. 30,610,794 33,526,602
164 Unitech Residential Resorts Ltd. 5,854,147,362 6,245,769,423
165 Unitech Samus Projects Pvt. Ltd. 21,887,342 21,899,829
166 Unitech Universal Developers Pvt. Ltd. - 21,169,301
167 Unitech Universal Hotels Pvt. Ltd. - 49,006,256
168 Unitech Vizag Projects Ltd. 3,674,531,405 3,013,863,597
169 Vostok Builders Pvt. Ltd. - 9,000
170 Zanskar Builders Pvt. Ltd. 429,729,626 776,260,499
171 Zanskar Estates Pvt. Ltd. - 3,000
172 Zanskar Realty Pvt. Ltd. 200,568,750 200,568,750
173 Zanskar Realtors Pvt. Ltd. 141,271,854 463,754,774
37. LEASED ASSETS

a) Operating lease taken:
Operating lease obligations: The Company has taken cars/ ofce equipments on operating lease basis. The lease rentals are payable by the
Company on a monthly basis. Future minimum lease rentals payable as at 31st March, 2013 as per the lease agreements are as under:
(Amount in )
Particulars 31.03.2013 31.03.2012

Lease payments recognized in the Statement of Prot and Loss are 13,515,841(previous year 10,095,241)
b) Operating lease given:
i) Details of assets given on operating lease: (Amount in )
Particulars 31.03.2013 31.03.2012

i) Gross block 185,570,690 185,570,690
ii) Accumulated depreciation 27,596,683 23,929,850
iii) Net block 157,974,007 161,640,840
ii) The Company has given buildings on operating lease basis. The lease rentals are receivable by the Company on a monthly basis.
Future minimum lease rentals receivable as at 31st March, 2013 as per the lease agreements are as under:
(Amount in )
Particulars 31.03.2013 31.03.2012

Lease income recognized in the Statement of Prot and Loss is 45,654,716 (previous year 58,537,003)
c) Finance lease :
The Company has acquired plant and machinery and vehicles under nance lease with the respective underlying assets as security.
Minimum lease payments (MLP) outstanding in respect of these assets are as follows (gures in parentheses are in respect of the
previous year)

147 148
(Amount in )
Particulars Total MLP outstanding Interest Present Value of MLP

as on 31.03.2013
i) Not later than one year 26,102,250 6,679,246 19,423,004
(1,126,452) (153,878) (972,574)
ii) Later than one year but not later than ve year 46,028,064 5,473,162 40,554,902
(1,126,452) (56,389) (1,070,063)
iii) More than ve years - - -
(-) (-) (-)
38. EARNINGS PER SHARE
BASIC EARNINGS PER SHARE 31.03.2013 31.03.2012

Basic earnings per share ( )including extraordinary items 0.58 1.25
Basic earnings per share ( ) excluding extraordinary items 0.71 1.25
DILUTED EARNINGS PER SHARE 31.03.2013 31.03.2012

Net prot after tax ( )including extraordinary items 1,519,756,795 3,267,113,801
Net prot after tax ( )excluding extraordinary items 1,864,756,795 3,267,113,801
Diluted earnings per share( )including extraordinary items 0.58 1.25
Diluted earnings per share( )excluding extraordinary items 0.71 1.25
39. INTEREST IN JOINT VENTURE

(i) Joint venture entities:
Name of the Company Country of Proportion of ownership interest as at

incorporation
31.03.2013 31.03.2012
Arihant Unitech Realty Projects Ltd. India 50% 50%
Unitech Amusement Parks Ltd. India 50% 50%
S. B. Developers Ltd. India 42.49% 42.49%
Unitech Hi-Tech Structures Ltd. India 36% 36%
Unitech Developers and Projects Ltd. India 40% 40%
Unitech Realty Projects Ltd. India 40% 40%
Unitech Ltd - LG Construction Co. Ltd. India 51% 51%
(Association of Persons)
Unitech Infra-con Ltd. India 40% 40%
Seaview Developers Ltd. India 40% 40%
Unitech Sai Pvt. Ltd. India 50% 50%
Unitech Valdel Valmark Pvt. Ltd. India 50% 50%
International Recreation Parks Pvt. Ltd. India 39.47% 39.47%
Shivalik Ventures Pvt. Ltd. India 50% 50%
Shivalik Ventures City Developers Pvt. Ltd. India 50% -
MNT Buildcon Pvt. Ltd. India 50% 50%
SVS Buildcon Pvt. Ltd. India 50% 50%
North Town Estates Pvt. Ltd. India 50% 50%
Shantiniketan Properties Ltd. India 40% 40%
Unival Estates India LLP India 50% 50%

Name of the Company Country of Proportion of ownership interest as at

incorporation
31.03.2013 31.03.2012
Sarvmangalam Builders & Developers Pvt. Ltd. India 42.51% 42.51%
Uni-Chand Builders Pvt. Ltd. India 50% 50%
Unival Willows Estate Pvt. Ltd. India 50% 50%
Kerrush Investments Ltd. Republic of Mauritius 25% 25%
Arsanovia Ltd. Nicosia, Cyprus 50% 50%
Elmvale Holdings Ltd. Republic of Mauritius 25% 25%
The Companys share of the assets and liabilities as on 31st March, 2013 and income and expenses for the year then ended in respect of joint
venture entities based on audited/unaudited accounts are given below:
Particulars 31.03.2013 31.03.2012
A. Assets
- Non current assets 23,927,904,957 18,933,740,731
- Current assets 12,295,745,733 11,175,646,736
Total 36,223,650,690 30,109,387,467
B. Liabilities
- Non current liabilities 11,658,573,528 7,352,798,013
- Current liabilities 12,547,838,482 9,957,201,526
Total 24,206,412,010 17,309,999,539
C. Contingent liabilities 2,332,195,109 2,267,783,526
D. Capital commitments 2,313,228,238 3,613,129,219
E. Income 3,911,598,432 2,290,619,752
F. Expenses 2,821,388,486 1,866,596,052
40. CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)
I. Claims against Company not acknowledged as debt
a) Liquidated damages and other claims by clients / customers : 296,224,221 (previous year 294,081,303).
b) Following cancellation of 122 UAS licenses granted to the private companies [including 22 UAS licenses issued to Unitech Wireless
(Tamilnadu) Pvt. Ltd., Unitech Wireless (Mumbai) Pvt. Ltd., Unitech Wireless (Kolkata) Pvt. Ltd., Unitech Wireless (Delhi) Pvt. Ltd.,
Unitech Wireless (North) Pvt. Ltd., Unitech Wireless (South) Pvt. Ltd., Unitech Wireless (East) Pvt. Ltd. and Unitech Wireless (West)
Pvt. Ltd. (Unitech Wireless Companies)] on or after 10th January 2008 by the Honble Supreme Court of India vide its judgment
dated 2nd February 2012, Telenor Asia Pte Ltd and Telenor Mobile Communications AS (collectively referred as Telenor) issued a
notice of misrepresentation and fraud by the Company, Cestos Unitech Wireless Pvt. Ltd., Simpson Unitech Wireless Pvt. Ltd., Acorus
Unitech Wireless Pvt. Ltd. and Unitech Wireless (Tamilnadu) Pvt. Ltd. and sought indemnication of its equity investment in Unitech
Wireless Companies amounting to 61,356,253,283 (previous year 61,356,253,283) along with interest of 18% p.a. which is equal to
38,745,814,066 (previous year 27,701,688,475) as on 31st March 2013. Telenor has led its claim with the Singapore International
Arbitration Centre. The Honble Supreme Court cancelled the UAS licenses issued to all the companies in 2008 by questioning the
government policy and Telenor also did a detailed due diligence prior to investment in Unitech Wireless Companies. Based on the legal
advice obtained by the management, the Company is condent that the indemnity claims of Telenor are not maintainable.
Further post cancellation of telecom licences issued to Unitech Wireless companies, the Company has executed the settlement and
mutual release agreement with Telenor on 10th October, 2012 which provides for transfer of entire 32.75% stake in Unitech Wireless
Companies to Telenor nominated entity for a nominal amount and withdrawal of all disputes between the parties, on fulllment of
certain conditions which are yet to be fullled on the reporting date. Accordingly, Telenor will withdraw the aforesaid indemnity claim
on fulllment of these conditions, and in case these conditions are not met, the settlement and mutual release agreement will get
terminated and all rights & obligations of the parties will be restored to the situation before the said agreement.
c) Income tax matter in dispute (Financial year 2004-05) pending in appeal: 7,363,246 (previous year 7,363,246).
Income tax matter in dispute (nancial year 2007-08) pending in appeal: 210,069,833 (previous year 210,069,833) (Amount paid
under protest by the Company : 70,000,000).
Income tax matter in dispute (nancial year 2008-09) pending in appeal: 10,305,410,334 (previous year NIL). (Amount paid under
protest by the Company : 430,000,000). Vide notice u/s 226(3) of the Income tax Act, 1961 dated 06/02/2013, 2,237,030 equity
shares of Carnoustie Management Pvt. Ltd. having value of 3,100,545,000 and 1,000,000 equity shares of Shivalik Ventures Pvt. Ltd.
having value of 10,000,000,000 held by the Company are attached.

149 150
d) Sales tax matter in dispute: (nancial year 2006-07) pending in appeal : 7,300,428 (previous year 7,300,428) (Amount paid under
protest by the Company : 7,300,428); (nancial year 2007-08) pending in appeal : 7,930,793 (previous year 7,930,793) (Amount
paid under protest by the Company : 7,930,793); (nancial year 2009-10): 2,446,904 (previous year NIL)
e) Service tax matter in dispute: (for the period 01/12/2005-31/07/2007): 8,554,085 (previous year 8,554,085)
II. Guarantees
a) In respect of bank guarantees: 2,248,402,349 (previous year 2,249,212,017) - It includes guarantees of 26,157,842 (previous year
33,122,510) in respect of subsidiary companies.
b) The Company has given corporate guarantees of 29,362,310,649 (previous year 22,178,737,135) for raising loans from nancial
institutions and banks by its subsidiaries, joint ventures and erstwhile subsidiaries.
III. Commitments
a) Capital commitments : 29,547,274 (previous year 27,551,749)
b) Investment in 1,000,000 equity shares of 10 each at a premium of 9,990 per share aggregating of 10,000,000,000 has been made
in joint venture Company, Shivalik Ventures Pvt. Ltd. An amount of 4,910,200,000 has been paid against the allotment of fully paid-up
shares. The balance securities premium of 5,089,800,000 will be accounted for on payment.
c) The estimated amount of real estate contracts, net of advances remaining to be executed is 11,773,681,000 (Previous year
8,443,707,000)
d) The Company received an arbitral award dated 6th July 2012 passed by the London Court of International Arbitration (LCIA) wherein the
arbitration tribunal has directed the Company to invest USD 298,382,949.34 equivalent to 16,218,605,211 in Burley Holdings Ltd.
(Mauritius) so as to enable it to purchase the investments of Cruz City 1 Mauritius Holdings (Mauritius) in the joint-venture Company,
Kerrush Investments Ltd (Mauritius). The High Court of Justice, Queens Bench Division, Commercial Court London has conrmed the
said award.
Based on the legal advice received by it, the Company believes that the said award is not enforceable in India on various grounds
including but not limited to lack of jurisdiction by the LCIA appointed arbitration tribunal to pass the said award. Nevertheless, in
case the Company is required to make the aforesaid investment into Burley Holdings Limited, its economic interest in the SRA project
in Santacruz Mumbai shall stand increased proportionately thereby creating a substantial asset for the Company with an immense
development potential.
e) Other commitments : 62,725,670 (previous year 64,397,700)
41. Investment in shares of subsidiaries amounting to 33,270,600 (Previous year 33,270,600 ) are pledged as securities against loan taken by
the Company and its subsidiary. Investment in shares of joint ventures amounting to 72,750,000 (Previous year 72,750,000) are pledged as
securities against loan taken by the Company and its joint venture.
42. ACCOUNTING OF PROJECTS WITH CO-DEVELOPER

The Company is developing certain projects jointly with Pioneer Urban Infrastructure Limited and its other group companies. All the development
expenses and sale proceeds booked during the year are transferred to the co-developer at the year end in proportion to share of actual land pooled
by each developer.
43. TRADE PAYABLES (DUE TO MICRO, SMALL AND MEDIUM SCALE ENTERPRISES)
The Company has amounts due to suppliers registered under The Micro, Small and Medium Enterprises Development Act, 2006 as at 31st March
2013. The disclosure pursuant to the said Act is as under:
(Amount in )
Particulars As at 31.03.2013 As at 31.03.2012

Principal amount due to suppliers under MSMED Act 47,223,530 51,108,621
Interest accrued and due to suppliers under MSMED Act on the above amount 313,638 571,096
Payment made to suppliers(other than interest) beyond appointed day during the year 68,794,302 18,883,821
Interest paid to suppliers under MSMED Act - -
Interest due and payable to suppliers under MSMED Act towards payments already made 1,008,875 226,512
Interest accrued and remaining unpaid at the end of the accounting year 2,120,122 797,608
Note: This information is required to be disclosed under The Micro, Small and Medium Enterprises Development Act, 2006 and has been determined
to the extent such parties have been identied on the basis of information available with the Company.

44. VALUE OF IMPORTS ON CIF BASIS

CIF value of imports, consumption of imported and indigenous raw materials, components, stores and spare parts and capital goods.
Particulars 31.03.2013 31.03.2012
(i) CIF value of imports 21,291,813 6,316,153

(ii) Store & spare part consumed Value %of Total Value % of Total
(a) Imported Nil Nil Nil Nil
(b) Indigenous 590 100 4,163 100
45. (a) EXPENDITURE IN FOREIGN CURRENCY
Particulars 31.03.2013 31.03.2012
Consultancy 128,728,200 70,817,159

Travelling 23,032,240 10,071,187
others 2,630,767 604,095
Total 154,391,207 81,492,441
(b) Dividend remitted in foreign currency to the shareholders of the Company - NIL (previous year - NIL) .
46. EARNINGS IN FOREIGN CURRENCY

Receipts in respect of overseas projects 207,338,600 (previous year 45,981,188).
47. (a) Unitech Vizag Projects Limited (UVPL), a subsidiary of Unitech Limited, is undertaking an Integrated Vizag Knowledge City with APIIC at Vizag for
which money has been advanced by the holding Company i.e. Unitech Limited. UVPL got the letter from APIIC for rescinding the development
agreement against which petition has been led under section 9 of The Arbitration and Conciliation Act, 1996 in The Court of the Honble XI
Additional Chief Judge, City Civil Court at Hyderabad to stay the operation of the said letter and restraining the APIIC from creating any third
party rights with regard to project or project land. The Company and UVPL have already invoked the arbitration clause and appointed an
arbitrator by their letters dated 27th May2011. APIIC is yet to nominate its arbitrator. After considering the circumstances and legal advice
obtained by the management, the Company is condent that this will not adversely affect the Companys investment and accordingly no
provision has been considered necessary.
(b) The Company was awarded a project for development of amusement cum theme park in Chandigarh by Chandigarh administration. The said
development agreement was unilaterally and illegally terminated by the Chandigarh administration. The Company led a writ petition before
Honble High Court of Punjab & Haryana challenging the termination of development agreement. The matter was referred for arbitration and
the matter is pending adjudication before the arbitration tribunal. The Company is condent that it will recover the amount invested in the
project and accordingly no provision has been considered necessary.
48. Advances for purchase of land, projects pending commencement and to joint ventures and collaborators amounting to 9,248,788,996 (previous
year- 16,074,305,962) included under the head short term loans and advances in Note 19 have been given in the normal course of business to
land owning companies, collaborators, projects or for purchase of land. The management of the Company based on the internal assessment and
evaluations considers that these advances, which are in the normal course of business recoverable/ adjustable and that no provision is necessary
as at Balance Sheet date. Further signicant portion has been adjusted/ recovered during the current nancial year and the management is
condent of recovering/ appropriately adjusting the balance.
49. The Company and its afliates have invested 6,382,586,848 for 32.75% equity stake in Unitech Wireless Companies (i.e. direct equity holding of
6.76% and indirect equity holding through economic interest of 25.99% nanced by way of compulsorily convertible debentures which entitles right
to acquire the equity shares of afliate companies) by undertaking the long-term debts/obligations. Further, the Company (including its subsidiaries/
afliates/nominees) has a contractual investment obligation in future of 9,239,467,835 in an afliate Company holding stake in Unitech Wireless
Companies.
As on the reporting date, Unitech Wireless Companies are not carrying any telecom operation business pursuant to the cancellation of their telecom
licenses by the Honble Supreme Court of India and non-participation by these companies in the recent spectrum auctions of the Department of
Telecommunications (DoT). Further, post cancellation of telecom licences issued to Unitech Wireless companies, the Company has executed the
settlement and mutual release agreement with Telenor Asia Pte Ltd. on 10th October, 2012 which provides for transfer of entire 32.75% stake in
Unitech Wireless Companies to Telenor nominated entity for a nominal amount and withdrawal of all disputes between the parties, on fulllment of

151 152
certain conditions which are yet to be fullled on the reporting date. Accordingly, Telenor will withdraw the aforesaid indemnity claim on fulllment
of these conditions, and in case these conditions are not met, the settlement and mutual release agreement will get terminated and all rights &
obligations of the parties will be restored to the situation before the said agreement.
In view of the above fact, the Company has accounted for 345,000,000 with respect to diminution in the value of its investments in Unitech
Wireless Companies and related losses on account of cessation of telecom operations of Unitech Wireless Companies post-cancellation of their
telecom licenses and non-participation in recent spectrum auctions of DoT.
The management is not currently in a position to ascertain how and in which group Company the aforesaid obligation if at all, is likely to devolve.
50. (a) The Company has certain outstanding delays as at Balance Sheet date with respect to long term loans from banks and term loans from
nancial institutions which are as follows:
The amount with respect to loan from banks of principal and interest respectively for the period 1-90 days is 288,587,688 (previous year-
1,063,721,408) and 37,109,131(previous year- 218,117,923). Further in respect of term loans from nancial institutions with respect to
principal and interest respectively are 440,495,819 (previous year- 515,894,201)and 330,022,148 (previous year- 104,270,982) for 1-90
days, 125,073,170 (previous year- 303,000,000)and 45,175,108 (previous year- 140,028,329) for 91-180 days, 146,000,000 (previous
year- 146,000,000)and 95,929,579 (previous year- 91,003,756) for the period 181-364 days and for 365 to 756 days being 365,000,000
(previous year- NIL) and 122,023,463 (previous year- NIL).
(b) The Company has certain outstanding delays as at Balance Sheet date with respect to short term loans from banks which are as follows:
The amount with respect to loan from banks of principal and interest respectively for the period 1-90 days is NIL (previous year - NIL) and
21,502,154 (previous year - NIL).
51. PREVIOUS YEAR FIGURES

Prior year gures have been regrouped, rearranged and reclassied wherever considered necessary.
For Goel Garg & Co.
FRN: 000397N
Partner


STATEMENT PURSUANT TO GENERAL EXEMPTION ISSUED BY
MINISTRY OF CORPORATE AFFAIRS (MCA) UNDER SECTION 212(8) OF
THE COMPANIES ACT, 1956 RELATING TO SUBSIDIARY COMPANIES
S. Name of the Subsidiary Company Reporting Exchange Paid- up Reserves Total Assets Total Details of Turnover Prot/ Provision Prot/ Pro- Country
No. currency Rate capital Liabilities Investments (Loss) for Tax (Loss) posed
(Except in case before Tax after Tax Divi-
of investments dend
in Subsidiaries)
in Lakh
1 Abohar Builders Pvt. Ltd. INR 1.00 5.00 0.09 81.88 81.88 - 0.26 0.09 0.03 0.06 - India
2 Aditya Properties Pvt. Ltd. INR 1.00 1,101.00 21,023.09 23,275.59 23,275.59 3,013.76 30.26 25.80 (21.67) 47.47 - India
3 Agmon Builders Pvt. Ltd. INR 1.00 5.00 (0.97) 4.14 4.14 - - (0.15) - (0.15) - India
4 Agmon Projects Pvt. Ltd. INR 1.00 5.00 (0.61) 2,613.00 2,613.00 - 0.17 (0.27) - (0.27) - India
5 Akola Properties Ltd. INR 1.00 5.00 0.39 449.38 449.38 - 0.29 0.12 0.04 0.08 - India
6 Algoa Properties Pvt. Ltd. INR 1.00 5.00 2.07 667.56 667.56 - 0.86 0.58 0.29 0.29 - India
7 Alice Builders Pvt. Ltd. INR 1.00 5.00 0.04 5.15 5.15 - 0.29 0.08 0.01 0.06 - India
8 Aller Properties Pvt. Ltd. INR 1.00 5.00 (0.44) 330.20 330.20 - 0.09 (0.07) - (0.07) - India
9 Alor Golf Course Pvt. Ltd. INR 1.00 5.00 (0.78) 4.33 4.33 - - (0.13) - (0.13) - India
10 Alor Maintenance Pvt. Ltd. INR 1.00 5.00 (0.75) 4.37 4.37 - - (0.13) - (0.13) - India
11 Alor Projects Pvt. Ltd. INR 1.00 5.00 (0.14) 4,447.99 4,447.99 - 0.29 0.07 0.02 0.05 - India
12 Alor Recreation Pvt. Ltd. INR 1.00 5.00 (14.82) 16.53 16.53 - 26.21 (4.10) (1.11) (2.98) - India
13 Amaro Developers Pvt. Ltd. INR 1.00 5.00 0.09 401.11 401.11 - 0.33 0.17 0.05 0.11 - India
(Formerly Venda Developers
Pvt. Ltd.).
14 Amarprem Estates Pvt. Ltd. INR 1.00 5.14 76.28 307.91 307.91 - - (0.75) - (0.75) - India
15 Amur Developers Pvt. Ltd. INR 1.00 5.00 1.82 752.14 752.14 - 0.89 0.62 0.19 0.43 - India
16 Andes Estates Pvt. Ltd. INR 1.00 5.00 0.42 308.00 308.00 - 0.32 0.16 0.05 0.11 - India
17 Angul Properties Pvt. Ltd. INR 1.00 5.00 (0.81) 107.24 107.24 - 0.03 (0.14) - (0.14) - India
18 Arahan Properties Pvt. Ltd. INR 1.00 5.00 (0.84) 105.54 105.54 - 0.03 (0.12) - (0.12) - India
19 Arcadia Build- Tech Ltd. INR 1.00 5.07 94.37 792.12 792.12 - - (0.46) - (0.46) - India
20 Arcadia Projects Pvt. Ltd. INR 1.00 110.00 (31.70) 78.58 78.58 - - (0.37) - (0.37) - India
21 Ardent Build-Tech Ltd. INR 1.00 5.00 (2.58) 740.61 740.61 - - (0.69) - (0.69) - India
22 Askot Builders Pvt. Ltd. INR 1.00 5.00 0.31 269.60 269.60 - 0.31 0.13 0.04 0.09 - India
23 Avril Properties Pvt. Ltd. INR 1.00 5.00 (1.00) 4.12 4.12 - - (0.15) - (0.15) - India
24 Azores Properties Ltd. INR 1.00 5.00 5.73 1,296.89 1,296.89 - 0.24 (0.19) - (0.19) - India
25 Bengal Unitech Hospitality Pvt. INR 1.00 5.00 (10.82) 8.47 8.47 - 5.81 (6.15) - (6.15) - India
Ltd.
26 Bengal Unitech Universal INR 1.00 499.98 9,819.07 42,229.59 42,229.59 - 38,193.79 2,491.83 1,252.56 1,239.27 - India
Infrastructure Pvt. Ltd.
27 Bengal Unitech Universal Siliguri INR 1.00 5.00 (0.56) 11,453.79 11,453.79 - - (0.19) - (0.19) - India
Projects Ltd.
28 Bengal Unitech Universal INR 1.00 5.00 4.27 5,426.12 5,426.12 - - (0.58) - (0.58) - India
Townscape Ltd.
29 Bengal Universal Consultants INR 1.00 25.00 1,242.49 2,252.59 2,252.59 - 2,775.30 960.65 311.75 648.90 - India
Pvt. Ltd.
30 Broomeld Builders Pvt. Ltd. INR 1.00 5.00 (5.55) 3,436.32 3,436.32 - 0.10 (0.11) - (0.11) - India
31 Broomeld Developers Pvt. Ltd. INR 1.00 5.00 2.61 1,464.86 1,464.86 - - (0.36) 0.05 (0.41) - India
32 Bynar Properties Private Limited INR 1.00 5.00 0.13 414.48 414.48 - 0.35 0.16 0.05 0.11 - India
(Formerly Known as Camphor
Properties Pvt. Ltd.)
33 Cape Developers Pvt. Ltd. INR 1.00 5.00 0.08 1,077.31 1,077.31 - - (0.43) - (0.43) - India
34 Cardus Projects Pvt. Ltd. INR 1.00 5.00 (0.88) 1,172.41 1,172.41 - 0.08 (0.37) - (0.37) - India
35 Clarence Projects Pvt. Ltd. INR 1.00 5.00 (0.70) 189.35 189.35 - 0.05 (0.09) - (0.09) - India
36 Clover Projects Pvt. Ltd. INR 1.00 5.00 (0.99) 4.12 4.12 - - (0.15) - (0.15) - India
37 Coleus Developers Pvt.Ltd. INR 1.00 100.00 1,948.02 2,048.36 2,048.36 - 0.85 0.31 0.13 0.18 - India
38 Colossal Infra-Developers Pvt. Ltd. INR 1.00 5.00 (1.20) 3.91 3.91 - - (0.13) - (0.13) - India
39 Colossal Projects Pvt. Ltd. INR 1.00 5.00 (1.95) 15,368.47 15,368.47 - 0.06 (1.27) (0.87) (0.39) - India
40 Comfrey Developers Pvt. Ltd. INR 1.00 100.00 3,953.30 4,053.64 4,053.64 - 0.68 0.13 0.03 0.10 - India
41 Cordia Projects Pvt. Ltd. INR 1.00 5.00 (0.02) 287.04 287.04 - 0.17 0.01 0.01 0.01 - India
42 Crimson Developers Pvt. Ltd. INR 1.00 5.00 (0.04) 3,040.30 3,040.30 - - (0.21) - (0.21) - India
43 Croton Developers Pvt. ltd. INR 1.00 5.00 0.41 5,160.66 5,160.66 - - (0.21) - (0.21) - India
44 Dantas Properties Pvt. Ltd. INR 1.00 5.00 2.56 654.40 654.40 - 0.80 0.64 0.20 0.44 - India
45 Deoria Properties Ltd. INR 1.00 5.12 94.94 999.73 999.73 - - (0.23) - (0.23) - India
46 Deoria Realty Pvt. Ltd. INR 1.00 5.00 (1.31) 361.32 361.32 - - (0.58) - (0.58) - India
47 Devoke Developers Pvt. Ltd INR 1.00 5.00 20.39 92.60 92.60 - 5.42 5.26 1.59 3.67 - India
48 Devon Builders Pvt. Ltd. (Formerly INR 1.00 5.00 (0.28) 233.72 233.72 - 0.20 0.03 0.01 0.02 - India
Zeller Builders Pvt. Ltd.)

153 154
of investments dend
in Subsidiaries)
in Lakh
49 Dhaulagiri Builders Pvt. Ltd. INR 1.00 5.00 0.09 388.26 388.26 - 0.32 0.17 0.05 0.12 - India
(Formerly Rivina Builders Pvt.
Ltd.)
50 Dhruva Realty Projects Ltd. INR 1.00 5.00 (2.73) 3,729.81 3,729.81 - - (0.20) 0.77 (0.96) - India
51 Dibang Properties Pvt. Ltd. INR 1.00 5.00 (0.71) 2,369.99 2,369.99 - - (0.46) 0.04 (0.50) - India
52 Drass Projects Pvt. Ltd. INR 1.00 5.00 (1.22) 401.91 401.91 - - (0.18) 0.24 (0.42) - India
53 Elbe Builders Pvt. Ltd. INR 1.00 5.00 (0.63) 208.25 208.25 - 0.06 (0.10) - (0.10) - India
54 Elbrus Builders Pvt. Ltd. INR 1.00 5.00 74.19 79.30 79.30 - - (0.18) - (0.18) - India
55 Elbrus Developers Pvt. Ltd. INR 1.00 21.00 21.07 882.55 882.55 - - (0.27) 0.08 (0.35) - India
56 Elbrus Properties Pvt. Ltd. INR 1.00 5.00 0.94 1,125.70 1,125.70 - - (0.45) - (0.45) - India
57 Erebus Projects Pvt. Ltd. INR 1.00 5.00 (21.00) 10,000.86 10,000.86 10,000.00 - (0.16) 6.35 (6.51) - India
58 Erica Projects Pvt. Ltd. INR 1.00 5.00 (0.44) 4.92 4.92 - - (0.13) - (0.13) - India
59 Erode Projects Pvt. Ltd. INR 1.00 5.00 (1.00) 4.12 4.12 - - (0.16) - (0.16) - India
60 Falcon Projects Pvt. Ltd. INR 1.00 5.00 (0.18) 4.94 4.94 - 0.29 0.13 0.02 0.10 - India
61 Flores Projects Pvt. Ltd. INR 1.00 5.00 14.08 20.96 20.96 - - (0.12) - (0.12) - India
62 Flores Properties Ltd. INR 1.00 5.00 0.61 517.80 517.80 - 0.34 0.17 0.05 0.12 - India
63 Flores Unitech Wireless Pvt. Ltd. INR 1.00 5.00 (0.99) 4.31 4.31 - - (0.30) - (0.30) - India
64 Girnar Infrastructures Pvt. Ltd. INR 1.00 5.00 5.28 3,544.85 3,544.85 - - (0.27) - (0.27) - India
65 Global Perspectives Ltd. INR 1.00 36.30 491.70 5,829.86 5,829.86 - 958.58 149.92 38.00 111.91 - India
66 Greenwood Projects Pvt. Ltd. INR 1.00 5.00 2.83 207.87 207.87 - 0.87 0.67 0.21 0.46 - India
67 Gurgaon Recreations Park Ltd. INR 1.00 850.00 (2,456.51) 20,941.35 20,941.35 6.14 1,743.43 (2,332.68) - (2,332.68) - India
68 Halley Developers Pvt. Ltd. INR 1.00 5.00 0.30 321.88 321.88 - 0.27 0.10 0.03 0.07 - India
69 Halley Projects Pvt. Ltd. INR 1.00 5.00 (0.65) 4.46 4.46 - - (0.15) - (0.15) - India
70 Harsil Builders Pvt. Ltd. INR 1.00 5.00 (0.24) 408.35 408.35 - - (0.43) - (0.43) - India
71 Harsil Properties Pvt. Ltd. INR 1.00 5.00 (1.13) 3.98 3.98 - - (0.15) - (0.15) - India
72 Hassan Properties Pvt. Ltd. INR 1.00 5.00 0.69 524.07 524.07 - 0.35 0.16 0.05 0.11 - India
73 Hatsar Estates Pvt. Ltd. INR 1.00 5.00 (0.95) 64.16 64.16 - - (0.14) - (0.14) - India
74 Havelock Estates Pvt. Ltd. INR 1.00 5.00 (0.43) 802.60 802.60 - - (0.15) - (0.15) - India
75 Havelock Investments Ltd. INR 1.00 210.00 (16.07) 194.22 194.22 - 1.76 (5.34) 0.72 (6.06) - India
76 Havelock Properties Ltd. INR 1.00 499.98 (110.60) 25,024.02 25,024.02 - 1,997.39 (830.81) (271.03) (559.78) - India
77 Havelock Realtors Ltd. INR 1.00 5.00 (0.47) 1,316.30 1,316.30 - - (0.16) - (0.16) - India
78 Havelock Schools Ltd. INR 1.00 5.00 (0.78) 72.22 72.22 - - (0.15) - (0.15) - India
79 High Strength Infra-Developers INR 1.00 5.00 (0.72) 4.39 4.39 - - (0.18) 0.07 (0.26) - India
Pvt. Ltd.
80 High Strength Projects Pvt. Ltd. INR 1.00 5.00 0.44 101.01 101.01 - 0.06 (0.11) - (0.11) - India
81 High Vision Healthcare Pvt. Ltd. INR 1.00 5.00 (0.69) 4.44 4.44 - - (0.16) - (0.16) - India
82 ILam Developers Pvt. Ltd. INR 1.00 5.00 (1.21) 3.91 3.91 - - (0.12) - (0.12) - India
83 Jalore Properties Pvt. Ltd. INR 1.00 5.00 (0.98) 4.13 4.13 - - (0.20) - (0.20) - India
84 Jorhat Properties Pvt. Ltd. INR 1.00 5.00 (0.78) 4.34 4.34 - - (0.18) 0.14 (0.33) - India
85 Kerria Projects Pvt. Ltd.(Formerly INR 1.00 5.00 0.10 408.12 408.12 - 0.35 0.18 0.05 0.12 - India
Amazon Projects Pvt. Ltd.)
86 Konar Developers Pvt. Ltd. INR 1.00 5.00 87.82 107.87 107.87 - - (0.36) 0.05 (0.40) - India
87 Koshi Builders Pvt. Ltd. INR 1.00 5.00 (0.31) 806.29 806.29 - - (0.17) 0.04 (0.21) - India
88 Landscape Builders Ltd. INR 1.00 5.00 (0.02) 1,530.30 1,530.30 - - (0.17) 0.08 (0.25) - India
89 Lavender Developers Pvt. Ltd. INR 1.00 5.00 (0.80) 150.54 150.54 - - (0.15) - (0.15) - India
90 Lavender Projects Pvt. Ltd. INR 1.00 21.00 20.93 1,073.01 1,073.01 - - (0.24) - (0.24) - India
91 Mahoba Builders Pvt. Ltd. INR 1.00 5.00 (1.53) 70.89 70.89 - - (0.16) 0.05 (0.21) - India
92 Mahoba Schools Ltd. INR 1.00 5.00 (0.88) 63.84 63.84 - - (0.16) - (0.16) - India
93 Manas Realty Projects Pvt. Ltd. INR 1.00 5.00 (27.86) 107.50 107.50 - - (5.68) - (5.68) - India
94 Mandarin Developers Pvt. Ltd. INR 1.00 100.00 3,953.34 4,053.68 4,053.68 - 0.68 0.14 0.03 0.11 - India
95 Mandarin Projects Pvt. Ltd. INR 1.00 5.00 (0.75) 4.36 4.36 - - (0.15) - (0.15) - India
96 Madison Builders Private Limited INR 1.00 5.00 (0.20) 421.79 421.79 - 0.36 0.18 0.05 0.12 - India
(Formerly Known as Mangrove
Builders Pvt. Ltd.)
97 Mansar Properties Pvt. Ltd. INR 1.00 5.00 3.71 98.64 98.64 - 1.09 0.92 0.29 0.63 - India
98 Marine Builders Pvt. Ltd. INR 1.00 5.00 0.48 494.57 494.57 - 0.32 0.11 0.04 0.08 - India
99 Masla Builders Pvt. Ltd. INR 1.00 5.00 0.06 237.28 237.28 - - (0.17) - (0.17) - India
100 Mayurdhwaj Projects Pvt. Ltd. INR 1.00 5.00 (1,056.21) 689.41 689.41 - 4.77 (61.98) - (61.98) - India

of investments dend
in Subsidiaries)
in Lakh
101 Medlar Developers Pvt. Ltd. INR 1.00 5.00 525.14 530.42 530.42 - - (0.31) 12.30 (12.62) - India
102 Medwyn Builders Pvt. Ltd. INR 1.00 5.00 0.10 392.83 392.83 - 0.33 0.16 0.05 0.11 - India
(Formerly Simen Builders Pvt.
Ltd.)
103 MHW Hospitality Ltd. INR 1.00 5.00 (5.45) 4.76 4.76 - - (0.22) - (0.22) - India
104 Moore Builders Pvt. Ltd. INR 1.00 5.00 2.05 784.48 784.48 - 0.92 0.55 0.17 0.38 - India
105 Mount Everest Projects Pvt. Ltd. INR 1.00 5.00 (1.51) 3.61 3.61 - - (0.18) - (0.18) - India
106 Munros Projects Pvt. Ltd. INR 1.00 90.50 1,709.13 2,001.46 2,001.46 - 0.37 (0.17) (0.05) (0.12) - India
107 New India Construction Co. Ltd. INR 1.00 8.00 54.70 63.54 63.54 - - (4.25) 3.07 (7.32) - India
108 Nirvana Real Estate Projects Ltd. INR 1.00 5.00 (1.34) 3.78 3.78 - - (0.15) - (0.15) - India
109 Ojos Developers Pvt. Ltd. INR 1.00 5.00 (0.69) 4.42 4.42 - - (0.16) 0.13 (0.29) - India
110 Onega Properties Pvt. Ltd. INR 1.00 5.00 0.48 2,900.86 2,900.86 - - (0.16) - (0.16) - India
111 Panchganga Projects Ltd. INR 1.00 5.00 (1.18) 75.53 75.53 - - (0.16) - (0.17) - India
112 Panicum Projects Pvt. Ltd. INR 1.00 5.00 (2.42) 2.69 2.69 - - (0.15) - (0.15) - India
113 Plassey Builders Pvt. Ltd. INR 1.00 5.00 (0.19) 421.62 421.62 - - (0.22) - (0.22) - India
114 Prasunder Estates Pvt. Ltd. INR 1.00 5.00 100.22 4,256.33 4,256.33 - - (0.26) - (0.26) - India
115 Primrose Developers Pvt. Ltd. INR 1.00 5.00 (0.57) 983.73 983.73 - 0.12 (0.09) - (0.09) - India
116 Purus Projects Pvt. Ltd. INR 1.00 5.00 3.82 11.17 11.17 - - (0.12) - (0.12) - India
117 Purus Properties Pvt. Ltd. INR 1.00 5.00 (0.13) 2,535.57 2,535.57 - - (0.16) - (0.16) - India
118 Quadrangle Estates Pvt. Ltd. INR 1.00 5.00 2.00 333.68 333.68 - 0.36 0.21 0.06 0.14 - India
119 Rhine Infrastructures Pvt. Ltd. INR 1.00 5.00 (0.95) 4.18 4.18 - - (0.14) - (0.14) - India
120 Robinia Developers Pvt. Ltd. INR 1.00 5.00 (0.76) 4.38 4.38 - - (0.15) - (0.15) - India
121 Ruhi Construction Co. Ltd. INR 1.00 5.00 (9.94) 462.28 462.28 - - (0.17) - (0.18) - India
122 Sabarmati Projects Pvt. Ltd. INR 1.00 5.00 (0.65) 1,777.70 1,777.70 - - (0.32) - (0.32) - India
123 Samay Properties Pvt. Ltd. INR 1.00 5.00 4.86 1,619.83 1,619.83 - - (0.44) - (0.44) - India
124 Sandwood Builders & Developers INR 1.00 5.00 0.13 404.19 404.19 - 0.34 0.17 0.05 0.12 - India
Pvt. Ltd.(Formerly Aronia Builders
& Developers Pvt. Ltd.)
125 Sangla Properties Pvt. Ltd. INR 1.00 5.00 (0.76) 22.26 22.26 - - (0.18) 0.08 (0.26) - India
126 Sankoo Builders Pvt. Ltd. INR 1.00 5.00 2.12 2,111.43 2,111.43 - 0.71 0.52 0.18 0.34 - India
127 Sankoo Developers Pvt. Ltd. INR 1.00 5.00 (0.75) 4.37 4.37 - - (0.17) 0.08 (0.25) - India
128 Sanyog Builders Ltd. INR 1.00 5.00 0.49 753.94 753.94 - - (0.16) - (0.16) - India
129 Sanyog Properties Pvt. Ltd. INR 1.00 5.00 (1.00) 4.11 4.11 - - (0.15) - (0.15) - India
130 Sarnath Realtors Ltd. INR 1.00 5.00 0.01 1,592.74 1,592.74 - - (0.47) - (0.47) - India
131 Shrishti Buildwell Pvt. Ltd. INR 1.00 5.00 0.48 5,601.47 5,601.47 - - (0.15) - (0.15) - India
132 Simpson Estates Pvt. Ltd. INR 1.00 5.00 (0.50) 154.70 154.70 - - (0.19) (0.06) (0.13) - India
133 Sirur Developers Pvt. Ltd. INR 1.00 5.00 (0.56) 4.55 4.55 - - (0.18) (0.06) (0.13) - India
134 Somerville Developers Ltd. INR 1.00 5.00 0.19 2,408.59 2,408.59 - - (0.15) 0.09 (0.24) - India
135 Sublime Developers Pvt. Ltd. INR 1.00 5.00 0.35 5,913.36 5,913.36 - - (0.16) 0.04 (0.19) - India
136 Sublime Properties Pvt. Ltd. INR 1.00 5.00 (0.69) 1,822.67 1,822.67 - - (0.15) 0.17 (0.31) - India
137 Supernal Corrugation India Ltd. INR 1.00 8.00 292.24 846.02 846.02 - - (0.44) 3.53 (3.97) - India
138 Tabas Estates Pvt. Ltd. INR 1.00 5.00 0.22 352.98 352.98 - 0.24 0.07 0.02 0.05 - India
139 Uni Homes Pvt. Ltd. INR 1.00 5.00 (0.88) 4.23 4.23 - - (0.12) - (0.12) - India
140 Unitech Acacia Projects Pvt. Ltd. INR 1.00 5.00 1,837.28 326,874.76 326,874.76 - 9,188.84 1,057.70 423.00 634.70 - India
141 Unitech Acorus Projects Pvt. Ltd. INR 1.00 5.00 (0.84) 4.27 4.27 - - (0.14) - (0.14) - India
142 Unitech Agra Hi-Tech Township INR 1.00 5.00 17.19 698.37 698.37 - - (0.40) - (0.39) - India
Ltd.
143 Unitech Alice Projects Pvt. Ltd. INR 1.00 5.00 0.50 431.04 431.04 - 0.32 0.16 0.05 0.11 - India
144 Unitech Ardent Projects Pvt. Ltd. INR 1.00 5.00 2,561.14 2,973.38 2,973.38 - 1,174.76 1,171.71 380.00 791.71 - India
145 Unitech Build-Con Pvt. Ltd. INR 1.00 5.00 (4.86) 0.25 0.25 - - (1.61) - (1.61) - India
146 Unitech Builders & Projects Ltd. INR 1.00 5.00 (3.23) 1,231.52 1,231.52 - - (0.76) - (0.76) - India
147 Unitech Builders Ltd. INR 1.00 5.00 214.21 219.60 219.60 - - (0.49) - (0.49) - India
148 Unitech Buildwell Pvt. Ltd INR 1.00 110.00 (40.47) 69.81 69.81 - 0.04 (0.98) 0.01 (0.99) - India
149 Unitech Business Parks Ltd. INR 1.00 49.00 529.55 872.13 872.13 - 4.02 3.26 23.24 (19.98) - India
150 Unitech Capital Pvt. Ltd. INR 1.00 300.00 60.62 360.88 360.88 - - (18.42) - (18.42) - India
151 Unitech Colossal Projects Pvt. Ltd. INR 1.00 5.00 1.84 8.24 8.24 - - (0.12) - (0.12) - India
152 Unitech Commercial & Residential INR 1.00 5.03 87.41 4,932.91 4,932.91 - - (0.52) - (0.52) - India
Projects.

155 156
of investments dend
in Subsidiaries)
in Lakh
153 Unitech Country Club Ltd. INR 1.00 15.00 383.67 2,689.21 2,689.21 - 1,059.74 (70.65) (2.75) (67.90) - India
154 Unitech Cynara Projects Pvt. Ltd. INR 1.00 5.00 (0.34) 4.77 4.77 - 0.29 (0.18) - (0.18) - India
155 Unitech Developers & Hotels INR 1.00 47.50 5,054.86 6,090.65 6,090.65 - 48.75 46.26 857.02 (810.77) - India
Pvt. Ltd
156 Unitech Hi- Tech Builders Pvt. Ltd. INR 1.00 5.03 83.96 4,818.12 4,818.12 - - (0.52) - (0.52) - India
157 Unitech High Vision Projects Ltd. INR 1.00 5.00 0.02 556.03 556.03 - - (0.15) - (0.15) - India
158 Unitech Hi-Tech Developers Ltd. INR 1.00 5.00 2,153.49 31,093.62 31,093.62 - 5,761.53 301.62 111.00 190.62 - India
159 Unitech Hi-Tech Projects Pvt. Ltd. INR 1.00 129.53 (0.21) 9,161.31 9,161.31 - - (0.60) - (0.60) - India
160 Unitech Holdings Ltd. INR 1.00 2,000.00 38,512.00 47,768.74 47,768.74 18,344.07 3,291.67 (4,736.10) (718.90) (4,017.19) - India
161 Unitech Hospitality Ltd. INR 1.00 5.00 (24.86) 174.83 174.83 - 499.05 (23.39) - (23.39) - India
162 Unitech Hospitality Services Ltd. INR 1.00 47.50 3,048.91 4,663.54 4,663.54 - 56.33 48.52 15.00 33.52 - India
163 Unitech Hotel Services Pvt. Ltd. INR 1.00 5.00 (0.85) 4.26 4.26 - - (0.18) - (0.18) - India
164 Unitech Hotels & Projects Ltd. INR 1.00 5.00 (0.58) 4.53 4.53 - - (0.15) 0.04 (0.19) - India
165 Unitech Hotels Pvt. Ltd. INR 1.00 206.41 6,415.33 8,531.80 8,531.80 - - (0.44) - (0.44) - India
166 Unitech Hyderabad Projects Ltd. INR 1.00 5.00 (7.38) 35,834.53 35,834.53 - - (0.24) - (0.24) - India
167 Unitech Hyderabad Township Ltd. INR 1.00 5.00 (10.38) 32,131.48 32,131.48 - - (0.24) - (0.24) - India
168 Unitech Industries & Estates INR 1.00 5.00 (3.27) 111.49 111.49 - - (0.74) - (0.74) - India
Pvt. Ltd.
169 Unitech Industries Ltd. INR 1.00 5.00 (0.46) 2,330.84 2,330.84 - - (0.29) 0.14 (0.43) - India
170 Unitech Infopark Ltd. INR 1.00 104.63 (1.14) 1,832.13 1,832.13 - - (0.50) (0.01) (0.49) - India
171 Unitech Infra Ltd. INR 1.00 5.00 (8.55) 29,403.12 29,403.12 - 6,722.31 1,330.67 270.22 1,060.45 - India
172 Unitech Infra-Developers Ltd. INR 1.00 5.16 97.61 505.42 505.42 - - (0.52) - (0.52) - India
173 Unitech Infra-Projects Pvt. Ltd. INR 1.00 5.00 (0.62) 4.49 4.49 - - (0.12) 0.07 (0.20) - India
174 Unitech Infra-Properties Ltd. INR 1.00 5.00 (6.05) 131.57 131.57 - 0.02 (0.13) 0.06 (0.19) - India
175 Unitech Kochi-SEZ Ltd. INR 1.00 104.63 (6.77) 2,247.86 2,247.86 - - (0.68) - (0.68) - India
176 Unitech Konar Projects Pvt. Ltd. INR 1.00 5.00 (0.37) 2,250.58 2,250.58 - - (0.16) (0.05) (0.11) - India
177 Unitech Landscape Projects INR 1.00 5.00 (2.42) 2.69 2.69 - - (0.16) - (0.16) - India
Pvt. Ltd.
178 Unitech Manas Projects Pvt. Ltd. INR 1.00 90.50 1,709.14 2,001.42 2,001.42 - 0.37 (0.18) (0.06) (0.13) - India
179 Unitech Miraj Projects Pvt. Ltd. INR 1.00 5.00 (0.51) 4.60 4.60 - - (0.19) (0.06) (0.13) - India
180 Unitech Nelson Projects Pvt. Ltd. INR 1.00 90.50 1,709.08 2,001.36 2,001.36 - 0.37 (0.16) (0.05) (0.11) - India
181 Unitech Pioneer Nirvana INR 1.00 116.30 (196.80) 523.11 523.11 - 475.10 (77.42) (4.25) (73.17) - India
Recreation Pvt. Ltd.
182 Unitech Pioneer Recreation Ltd. INR 1.00 482.00 330.01 1,289.70 1,289.70 - 416.26 (26.39) 4.58 (30.97) - India
183 Unitech Power Distribution Pvt. INR 1.00 5.00 (0.21) 4.90 4.90 - 0.29 0.11 0.02 0.09 - India
Ltd.
184 Unitech Power Projects Pvt. Ltd. INR 1.00 5.00 (1.00) 4.11 4.11 - - (0.14) - (0.14) - India
185 Unitech Power Pvt. Ltd. INR 1.00 5.00 (0.22) 4.89 4.89 - 0.29 0.10 0.02 0.08 - India
186 Unitech Power Transmission Ltd. INR 1.00 5,000.00 850.54 28,077.42 28,077.42 - 27,011.61 890.84 189.74 701.10 - India
187 Unitech Property Management INR 1.00 100.00 8,653.97 35,228.01 35,228.01 - 12,943.45 3,049.15 887.68 2,161.47 - India
Pvt. Ltd.
188 Unitech Real Estate Builders Ltd. INR 1.00 5.00 47.18 14,397.68 14,397.68 - 9.05 (1.27) 2.65 (3.92) - India
189 Unitech Real Estate Developers INR 1.00 5.00 (6.70) 3.41 3.41 - - (0.15) - (0.15) - India
Ltd.
190 Unitech Real Estate Management INR 1.00 5.00 (51.34) 233.71 233.71 - 547.37 (67.41) - (67.41) - India
Pvt. Ltd.
191 Unitech Real-Tech Properties Ltd. INR 1.00 5.00 0.50 55.20 55.20 - - (0.16) - (0.16) - India
192 Unitech Realty Builders Pvt. Ltd. INR 1.00 5.03 91.83 5,178.84 5,178.84 - - (0.51) - (0.51) - India
193 Unitech Realty Developers Ltd. INR 1.00 5.00 (0.70) 2,377.39 2,377.39 - - (0.18) (0.02) (0.17) - India
194 Unitech Realty Estates Pvt. Ltd. INR 1.00 5.00 (0.68) 4.43 4.43 - - (0.14) 0.08 (0.23) - India
195 Unitech Realty Pvt. Ltd. INR 1.00 5.00 5,468.02 15,380.42 15,380.42 - 2,997.98 853.09 277.74 575.35 - India
196 Unitech Realty Ventures Ltd. INR 1.00 5.00 24.64 1,176.78 1,176.78 - - (0.53) (0.02) (0.51) - India
197 Unitech Reliable Projects Pvt. Ltd INR 1.00 200.00 82.86 6,310.70 6,310.70 - 1.01 (325.75) 149.69 (475.45) - India
198 Unitech Residential Resorts Ltd. INR 1.00 1,000.00 (6,566.98) 52,877.24 52,877.24 - - (1.85) 44.98 (46.83) - India
199 Unitech Samus Projects Pvt. Ltd. INR 1.00 5.00 0.28 224.27 224.27 - 0.33 0.17 0.06 0.11 - India
200 Unitech Universal Developers INR 1.00 5.00 (2.44) 2.67 2.67 - - (0.13) - (0.13) - India
Pvt. Ltd.
201 Unitech Universal Hotels Pvt. Ltd. INR 1.00 5.00 (2.47) 2.65 2.65 - - (0.16) - (0.16) - India

of investments dend
in Subsidiaries)
in Lakh
202 Unitech Universal Simpson Hotels INR 1.00 5.00 (3.39) 1.72 1.72 - - (0.15) - (0.15) - India
Pvt. Ltd.
203 Unitech Valdel Hotels Pvt. Ltd. INR 1.00 5.00 (0.82) 4.30 4.30 - - (0.15) - (0.15) - India
204 Unitech Varanasi Hi-Tech INR 1.00 5.00 (3.74) 1.37 1.37 - - (0.12) - (0.12) - India
Township Ltd.
205 Unitech Vizag Projects Ltd. INR 1.00 5.00 (5.45) 40,550.70 40,550.70 - - (0.24) 0.05 (0.29) - India
206 Volga Realtors Pvt ltd INR 1.00 5.00 (1.10) 4.01 4.01 - - (0.18) - (0.18) - India
207 Zanskar Builders Pvt. Ltd. INR 1.00 5.00 1.02 4,303.55 4,303.55 - - (0.18) - (0.19) - India
208 Zanskar Projects Pvt. Ltd. INR 1.00 5.00 (1.22) 3.89 3.89 - - (0.14) - (0.14) - India
209 Zanskar Realtors Pvt. Ltd. INR 1.00 5.00 0.33 1,418.16 1,418.16 - 0.04 (0.14) - (0.14) - India
210 Zanskar Realty Pvt. Ltd. INR 1.00 5.18 97.36 2,108.43 2,108.43 - - (0.23) - (0.23) - India
211 Unitech Libya for General LYD 41.43 124.30 (116.47) 47.54 47.54 - - (43.60) - (43.60) - Libya
Contracting and Real Estate
Investment
212 Alkosi Limited USD 54.50 5.45 (17.26) - - - - (4.16) - (4.16) - Cyprus
213 Bageris Limited USD 54.50 5.45 2,435.74 2,452.50 2,452.50 - - (3.81) - (3.81) - Cyprus
214 Bolemat Limited USD 54.50 5.45 2,435.74 2,452.50 2,452.50 - - (3.81) - (3.81) - Cyprus
215 Boracim Limited USD 54.50 5.45 2,406.70 2,725.00 2,725.00 - - (9.25) - (9.25) - Cyprus
216 Brucosa Limited USD 54.50 5.45 2,435.74 2,452.50 2,452.50 - - (4.29) - (4.29) - Cyprus
217 Burley Holdings Ltd. USD 54.50 - (10.70) 2.77 2.77 - - 0.05 - 0.05 - Republic
of
Mauritius
218 Comgenic Limited USD 54.50 408.75 (1,035.55) 13.38 13.38 - - (1,026.80) - (1,026.80) - Cyprus
219 Crowbel Limited USD 54.50 174.40 (21.25) 170.31 170.31 - - (3.23) - (3.23) - Cyprus
220 Empecom Corporation USD 54.50 2.73 (2,484.93) 6,477.18 6,477.18 - 5,912.17 5,899.80 - 5,899.80 - British
Virgin
Islands
221 Firisa Holdings Limited USD 54.50 1.64 47,669.24 47,681.40 47,681.40 47,075.08 - (4.12) - (4.12) - Cyprus
222 Gramhuge Holdings Limited USD 54.50 5.45 6,652.43 6,673.86 6,673.86 - 10.31 5.85 0.59 5.27 - Cyprus
223 Gretemia Holdings Limited USD 54.50 5.45 5,033.44 5,059.51 5,059.50 - - (4.41) 1.93 (6.34) - Cyprus
224 Impactlan Limited USD 54.50 5.45 37.72 54.52 54.52 - - (3.86) - (3.86) - Cyprus
225 Insecond Limited USD 54.50 1.09 27,132.23 27,145.01 27,145.01 27,145.01 - (4.40) - (4.40) - Cyprus
226 Kortel Limited USD 54.50 0.55 (94.32) 33,262.10 33,262.10 5,466.35 - (4.61) - (4.61) - Cyprus
227 Nectrus Limited USD 54.50 27.80 (3,563.26) 14,256.13 14,256.13 10,436.98 4,053.26 (127.34) (0.62) (126.72) - Cyprus
228 Nuwell Limited USD 54.50 13.63 21,638.22 23,677.45 23,677.45 - - (5,927.13) - (5,927.13) - Cyprus
229 Reglinia Limited USD 54.50 0.55 (9.20) 0.04 0.04 - - (3.04) - (3.04) - Cyprus
230 Risster Holdings Limited USD 54.50 1.09 47,012.43 47,904.59 47,904.59 - - (7.62) - (7.62) - Cyprus
231 Serveia Holdings Limited USD 54.50 5.45 1,610.54 1,632.27 1,632.27 1,632.28 - (3.05) - (3.05) - Cyprus
232 Seyram Limited USD 54.50 141.70 (20.00) 136.25 136.25 - - (3.24) - (3.24) - Cyprus
233 Spanwave Services Limited USD 54.50 5.45 6,577.41 7,089.99 7,089.99 - - (3.80) - (3.80) - Cyprus
234 Surfware Consultant Limited USD 54.50 5.45 37.36 54.50 54.50 - - (3.90) - (3.90) - Cyprus
235 Technosolid Limited USD 54.50 5.45 59,058.20 59,072.33 59,072.33 - - (3.09) - (3.09) - Cyprus
236 Transdula Limited USD 54.50 1.09 27,142.95 27,154.27 27,154.27 - - (3.69) - (3.69) - Cyprus
237 Unitech Hotels Limited USD 54.50 1.64 34,857.71 35,388.75 35,388.75 - - (7.34) - (7.34) - Isle of
Man
238 Unitech Malls Limited USD 54.50 1.64 (46.43) 1,635.32 1,635.32 - - (7.34) - (7.34) - Isle of
Man
239 Unitech Ofce Fund Trustee SGD 44.67 78.91 (78.91) - - - 943.31 915.98 - 915.98 - Singapore
Pte Ltd
240 Vectex Limited USD 54.50 72.27 (35.93) 44.88 44.88 - - (1.77) - (1.77) - Cyprus
241 Zimuret Ltd. USD 54.50 0.55 55,473.48 56,336.24 56,336.23 616.94 65.23 59.95 1.12 58.82 - Cyprus
242 Unitech Global Limited USD 54.50 4.36 14,694.48 135,341.19 135,341.19 84,241.21 4,036.48 776.18 - 776.18 - Jersey
243 Unitech Overseas Limited USD 54.50 34,848.49 (27,967.66) 7,119.85 7,119.85 - - (102.91) - (102.91) - Isle of
Man
Note: Indian Rupee equivalents of the gures given in foreign currencies in the accounts of the subsidiary companies are based on the exchange rate as on 31.03.2013.

157 158
NOTICE OF 42ND ANNUAL GENERAL MEETING
Notice is hereby given that the 42nd Annual General Meeting of (b) Minimum Remuneration
the Members of the Company will be held on Thursday, 26th day of
Notwithstanding anything to the contrary contained herein, where
September, 2013, at 11:00 A.M. at Tivoli Daffodils Hotel, Chattarpur
Hills, Mehrauli, New Delhi 110030, to transact the following in any nancial year, during the currency of the tenure of Mr.
business: Ramesh Chandra as an Executive Chairman of the Company, the
Company has no prots or inadequate prots, the Company will
pay remuneration by way of salary, allowances and perquisites as
ORDINARY BUSINESS specied above.
1. To receive, consider and adopt the Audited Balance Sheet of the (c) Power to the Board of Directors
Company as at 31st March, 2013, the Statement of Prot & Loss The Board of Directors of the Company (herein after referred to as
for the nancial year ended on that date together with the reports Board which term shall be deemed to include the Remuneration
of the Board of Directors and the Statutory Auditors thereon. Committee) shall be at liberty and are hereby authorised to revise,
2. To appoint a Director in place of Mr. Ravinder Singhania, who enhance, alter and vary from time to time, the aforesaid terms,
retires by rotation and, being eligible, offers himself for re- conditions and remuneration, including awarding of increments based
appointment. on merits as well as Companys performance, of said appointment, in
such manner, as it may deem t, provided such revision, enhancement,
3. To appoint a Director in place of Dr. P. K. Mohanty, who retires by alteration, variation etc. is in accordance with, and within the limits
rotation and, being eligible, offers himself for re-appointment.
prescribed in, the relevant Sections read with Schedules to the
4. To appoint Statutory Auditors of the Company, to hold ofce Companies Act, 1956.
from the conclusion of this Annual General Meeting till the
RESOLVED FURTHER THAT the Board be and is hereby authorised to
conclusion of the next Annual General Meeting and to x their
do all such acts, deeds, matters and things as it may, in its absolute
remuneration. M/s Goel Garg & Co., Chartered Accountants (Firm
discretion deem necessary, proper or desirable and to settle any
Registration No. 000397N), the retiring Auditors, are eligible for
re-appointment. questions, difculties and/or doubts that may arise in this regard in
order to implement and give effect to the foregoing resolution.
SPECIAL BUSINESS
6. Re-appointment of Mr. Ajay Chandra as Managing Director
5. Re-appointment of Mr. Ramesh Chandra as an Executive
Chairman To consider and, if thought t, to pass with or without modication(s),
the following resolution as an Ordinary Resolution:
To consider and, if thought t, to pass with or without modication(s),
the following resolution as a Special Resolution: RESOLVED THAT pursuant to the provisions of Sections 198, 269,
309, 310 and 317 read with Schedule-XIII and other applicable
RESOLVED THAT pursuant to the provisions of Sections 198, 269, 309 provisions, if any, of the Companies Act, 1956 (including any
and 310 read with Schedule-XIII and other applicable provisions, if any, statutory modication(s) or re-enactment thereof for the time
of the Companies Act, 1956 (including any statutory modication(s) or being in force) and pursuant to the provisions of the Articles of
re-enactment thereof for the time being in force) and pursuant to the
Association of the Company and subject to such other approvals
provisions of the Articles of Association of the Company and subject to
as may be required, approval of the Company be and is hereby
such other approvals as may be required, approval of the Company be
accorded to the re-appointment of Mr. Ajay Chandra as Managing
and is hereby accorded to the re-appointment of Mr. Ramesh Chandra
Director of the Company for the period of ve years with effect
as Executive Chairman of the Company for the period of ve years with
from 1st January, 2014, on the terms and conditions including
effect from 1st January, 2014, on the terms and conditions including
remuneration as set out hereunder:
remuneration as set out hereunder:
(a) Remuneration: (a) Remuneration:
(i) Basic Salary : 1,50,00,000/- per annum i. Basic Salary : 1,25,00,000/- per annum
(ii) House Rent Allowance : 97,50,000/- per annum ii. House Rent Allowance : 81,25,000/- per annum
(iii) Contribution to Provident Fund : 12% of Basic Salary iii. Contribution to Provident Fund : 12% of Basic Salary
(iv) Leave Travel Allowance : 1,20,000/- per annum iv. Leave Travel Allowance : 1,08,000/- per annum
(v) Medical Allowance : 1,20,000/- per annum v. Medical Allowance : 1,08,000/- per annum
In addition to the above salary, Mr. Ramesh Chandra shall be entitled to In addition to the above salary, Mr. Ajay Chandra shall be entitled to
other perquisites or benets, in cash or kind, such as actual medical/ other perquisites or benets, in cash or kind, such as actual medical/
hospitalisation expenses, Company owned vehicle(s), gas, electricity, hospitalisation expenses, Company owned vehicle(s), gas, electricity,
water, furnishings, repairs, servants salaries, drivers salaries, club water, furnishings, repairs, servants salaries, drivers salaries, club
fees, insurance policies, telephone and mobile expenses or other fees, insurance policies, telephone and mobile expenses or other
facilities in accordance with rules and/or policies of the Company facilities in accordance with rules and/or policies of the Company
during the tenure of his appointment. during the tenure of his appointment.

(b) Minimum Remuneration (b) Minimum Remuneration

Notwithstanding anything to the contrary contained herein, where Notwithstanding anything to the contrary contained herein, where
in any nancial year, during the currency of the tenure of Mr. Ajay in any nancial year, during the currency of the tenure of Mr. Sanjay
Chandra as Managing Director of the Company, the Company has no Chandra as Managing Director of the Company, the Company has no
prots or inadequate prots, the Company will pay remuneration by prots or inadequate prots, the Company will pay remuneration by
way of salary, allowances and perquisites as specied above. way of salary, allowances and perquisites as specied above.
(c) Power to Board of Directors (c) Power to Board of Directors

The Board of Directors of the Company (herein after referred to as
The Board of Directors of the Company (herein after referred to as
Board which term shall be deemed to include the Remuneration
Board which term shall be deemed to include the Remuneration
Committee) shall be at liberty and are hereby authorised to revise,
Committee) shall be at liberty and are hereby authorised to revise, enhance, alter and vary from time to time, the aforesaid terms,
enhance, alter and vary from time to time, the aforesaid terms, conditions and remuneration, including awarding of increments based
conditions and remuneration, including awarding of increments based on merits as well as Companys performance, of said appointment, in
on merits as well as Companys performance, of said appointment, in such manner, as it may deem t, provided such revision, enhancement,
such manner, as it may deem t, provided such revision, enhancement, alteration, variation etc. is in accordance with, and within the limits
alteration, variation etc. is in accordance with, and within the limits prescribed in, the relevant sections read with schedules to the
prescribed in, the relevant Sections read with Schedules to the Companies Act, 1956.
Companies Act, 1956.
RESOLVED FURTHER THAT the Board be and is hereby authorised to
RESOLVED FURTHER THAT the Board be and is hereby authorised to do all such acts, deeds, matters and things as it may, in its absolute
do all such acts, deeds, matters and things as it may, in its absolute discretion deem necessary, proper or desirable and to settle any
discretion deem necessary, proper or desirable and to settle any questions, difculties and/or doubts that may arise in this regard in
questions, difculties and/or doubts that may arise in this regard in order to implement and give effect to the foregoing resolution.
order to implement and give effect to the foregoing resolution.
8. Commission to Independent Directors

7. Reappointment of Mr. Sanjay Chandra as Managing Director To consider and, if thought t, to pass, with or without modication(s),
the following resolution as Special Resolution:
the following resolution as an Ordinary Resolution: RESOLVED THAT pursuant to Articles 92 and 93 of the Articles of
Association of the Company and Section 309 and other applicable
RESOLVED THAT pursuant to the provisions of Sections 198, 269, provisions, if any, of the Companies Act, 1956 (the Act), the consent
309, 310 and 317 read with Schedule-XIII and other applicable of the Company be and is hereby accorded to the payment of
provisions, if any, of the Companies Act, 1956 (including any commission to the Independent Directors of the Company annually,
statutory modication(s) or re-enactment thereof for the time being for a period not exceeding ve years, for each of the nancial years of
in force) and pursuant to the provisions of the Articles of Association the Company commencing from nancial year 2013-14, of a sum not
of the Company and subject to such other approvals as may be exceeding 1% per annum of the net prots of the Company calculated
required, approval of the Company be and is hereby accorded to in accordance with the provisions of the Sections 198, 349 and 350
the re-appointment of Mr. Sanjay Chandra as Managing Director of of the Act subject to a maximum of 100 lacs per annum, to be divided
the Company for the period of ve years with effect from 1st January, amongst the said Directors in such manner as the Board, may from
2014, on the terms and conditions including remuneration as set time to time determine.
out hereunder: RESOLVED FURTHER THAT for the purpose of giving effect to the
above Resolution, the Board of Directors (including the Remuneration
(a) Remuneration:
Committee) be and is hereby authorised to do all such acts, deeds,
i. Basic Salary : 1,25,00,000/- per annum matters and things as it may in its sole and absolute discretion deem
ii. House Rent Allowance : 81,25,000/- per annum necessary or expedient in this regard.
iii. Contribution to Provident Fund : 12% of Basic Salary
iv. Leave Travel Allowance : 1,08,000/- per annum 9. Appointment of Branch Auditor(s)
v. Medical Allowance : 1,08,000/- per annum
In addition to the above salary, Mr. Sanjay Chandra shall be entitled to the following resolution as an Ordinary Resolution:
other perquisites or benets, in cash or kind, such as actual medical/ RESOLVED THAT pursuant to the provisions of Section 228 and other
hospitalisation expenses, Company owned vehicle(s), gas, electricity, applicable provisions, if any, of the Companies Act, 1956, the approval
water, furnishings, repairs, servants salaries, drivers salaries, club of the Company be and is hereby accorded to authorize the Board
fees, insurance policies, telephone and mobile expenses or other of Directors of the Company, to appoint the Branch Auditors of any
facilities in accordance with rules and/or policies of the Company branch ofce of the Company, in India or abroad, in consultation with
during the tenure of his appointment. the statutory auditors of the Company, which are already existing or

159 160
are to be opened, any person qualied to act as the Branch Auditors as 8. Members are requested to read the Shareholders Information
specied in the provisions of Section 228 of the Companies Act, 1956 given in the Report on Corporate Governance.
and to x their remuneration thereon.
9. Members are requested to le their claim of dividend which
By Order of the Board of Directors remains unpaid / unclaimed with the Company. The list of
For Unitech Limited such unpaid/unclaimed dividend is available at the Investors
Section of the Companys website www.unitechgroup.com.
Place: Gurgaon Deepak Jain
Members are advised to claim the same at the earliest, else
Date: 30th May, 2013 Company Secretary
the such amount of dividend will be transferred to the Investor
Education and Protection Fund [IEPF], pursuant to Section
205C of the Companies Act, 1956 and Rules thereof.
NOTES:
10. In recognition and support to the Green Initiative of the
1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING
Ministry of Corporate Affairs (MCA), the Company has been/
IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE
(ONLY IN CASE OF A POLL) INSTEAD OF HIMSELF. SUCH A is sending the Annual Report(s), through e-mails, at the
PROXY NEED NOT BE A MEMBER OF THE COMPANY. DULY registered e-mail Ids of its members. However, as per the
COMPLETED, STAMPED AND SIGNED PROXY FORM, IN records of the Company, a section of members have not
ORDER TO BE EFFECTIVE, MUST REACH THE REGISTERED registered their email address(es)/updated their email IDs
OFFICE OF THE COMPANY NOT LATER THAN FORTY-EIGHT with their respective Depository Participant (DP)/Registrar
HOURS BEFORE THE COMMENCEMENT OF THE MEETING. A and Share Transfer Agent (RTA). The members, who wish to
PROXY FORM IS ENCLOSED FOR THIS PURPOSE. receive the Annual Report and other related documents in
electronic form, are requested to update/register their email
2. Explanatory Statement pursuant to Section 173(2) of the address(es) with their respective Depository Participant (DP)/
Companies Act, 1956 is enclosed and forms part of this Registrar and Share Transfer Agent (RTA).
Notice.
11. Company is sending full annual report to the share holders
3. Members/Proxy Holders are requested to bring the duly having email Ids registered with their DP or with RTA of the
completed and signed Attendance Slips to the meeting. Company. However the statement containing the salient
Corporate Members intending to attend the AGM are requested features of the Balance Sheet, Statement of Prot and Loss
to send their authorised representative alongwith a certied and Auditors Report (Abridged Financial Statements) and
copy of the Board Resolution, as required under Section 187 other documents, is sent to all other members, along with
of the Companies Act, 1956, to attend and vote on their behalf Abridged Consolidated Financial Statements. Any member
at the AGM. interested in obtaining a copy of the full Annual Report, may
4. The Register of Members and the Share Transfer Books of the write to the Company Secretary.
Company will remain closed from 16th September, 2013 to
12. A Member desirous of getting any information on the accounts
26th September, 2013 (both days inclusive) for the purpose of
or operations of the Company is requested to forward his / her
AGM.
query to the Company Secretary at least seven working days
5. The Company has received requisite disclosures as required prior to the date of AGM, so that the required information can
under Clause 49 (IV) (E) (v) of the Listing Agreement and the be made available at the meeting.
Companies (Disqualication of Directors under Section 274
13. The Company whole-heartedly welcomes the Members/
(1) (g) of the Companies Act, 1956) Rules, 2003 with respect
Proxies at its AGM, the Members/Proxies may please note that
to the Directors being re-appointed. Further the Information
required under Clause 49 (IV) (G) of the Listing Agreement no gifts/coupons will be distributed at the AGM.
with respect to such Directors is provided in the Report on
Corporate Governance.
EXPLANATORY STATEMENT PURSUANT TO SECTION 173(2) OF THE
6. Relevant documents referred to in the Notice will be available COMPANIES ACT, 1956
for inspection by the Members at the registered ofce of the
Company between 10.30 A.M. and 4.00 P.M. on all working Item 5
days (except Saturdays), prior to the date of the AGM and will Members of the Company are informed that the appointment of Mr.
also be available for inspection at the meeting. Ramesh Chandra as Executive Chairman of the Company was approved
7. Members holding shares of the Company in physical form by the Shareholders for a period of ve years which is concluding on
are requested to intimate changes, if any, in their registered 31st December, 2013. The Board of Directors at its meeting held on
address or Bank mandate/details immediately to the Registrar 30th May, 2013 has re-appointed Mr. Ramesh Chandra as Executive
and Transfer Agent (RTA) of the Company and correspond Chairman for a further period of ve years w.e.f. 1st January, 2014, on
with them directly regarding Share Transfer/Transmission/ terms and conditions including remuneration, subject to the approval
Transposition, Demat, Change of Address, Issue of Duplicate of the members to be accorded at the Annual General Meeting.
Share Certicate, ECS and Nomination Facility etc.. Members Therefore, pursuant to the applicable provisions of the Companies Act,
holding shares in demat form must correspond directly with 1956 approval of the members is sought by way of passing Special
their respective Depository Participants (DPs). Resolution specied at Item no. 5.

None of the directors of the Company, except Mr. Ramesh Chandra The Board of Directors recommends the passing of the Resolution set
and his two sons, Mr. Ajay Chandra and Mr. Sanjay Chandra, are out at Item No. 8 of this Notice as a Special Resolution.
concerned or interested in the said resolution.
Item 9
The above details and as contained in resolution under Item 5
Pursuant to Section 228 and other applicable provisions of the
alongwith the details provided under Report on Corporate Governance
Companies Act, 1956 and subject to the approval of members of the
may be treated as an abstract of the Memorandum of Interest under
Company, the accounts of a branch ofce can be audited by branch
Section 302 of the Companies Act, 1956 and that pursuant to the
auditors appointed by the Board in consultation with the Companys
provisions of Section 309 of the Companies Act, 1956, the terms of
auditor. Accordingly the approval of the members is sought to
appointment specied in the resolution is placed before the members
authorize the Board of Directors to appoint branch auditor(s) and to x
for their approval.
their remuneration, in consultation with the Statutory Auditors of the
Item 6-7 Company, for any existing branch ofce of the Company or any other
branch which may be opened whether in India or abroad.
Members of the Company are informed that the appointment of Mr.
Ajay Chandra and Mr. Sanjay Chandra as Managing Directors of the The Board of Directors recommends the passing of the Resolution set
Company was approved by the Shareholders for a period of ve years out at Item No. 9 of this Notice.
which is concluding on 31st December, 2013. The Board of Directors at
None of the directors of the Company are concerned or interested in
its meeting held on 30th May, 2013 has re-appointed Mr. Ajay Chandra
the said resolution.
and Mr. Sanjay Chandra as Managing Directors for a further period of
ve years w.e.f. 1st January, 2014, on terms and conditions including By Order of the Board of Directors
remuneration, subject to the approval of the members to be accorded For Unitech Limited
at the Annual General Meeting. Therefore, pursuant to the applicable
provisions of the Companies Act, 1956 approval of the members is Place: Gurgaon Deepak Jain
sought by way of passing resolutions specied at Item no. 6-7. Date : 30th May, 2013 Company Secretary
None of the directors of the Company, except Mr. Ajay Chandra,

Mr. Sanjay Chandra and their father Mr. Ramesh Chandra are
concerned or interested in the said resolutions.
The above details and as contained in the resolutions under Item 6-7
alongwith the details provided under Report on Corporate Governance
may be treated as an abstract of the Memorandum of Interest under
Section 302 of the Companies Act, 1956 and that pursuant to the
provisions of Section 309 of the Companies Act, 1956, the terms of
appointment specied in the resolutions is placed before the members
for their approval.
Item 8
Pursuant to Articles 92 and 93 of the Articles of Association of the
Company and Section 309 and other applicable provisions of the
Companies Act, 1956 read with Clause 49 (IV) (B) of the Listing
Agreement, Company has been paying remuneration by way of
commission to all independent directors of the Company.
Members of the Company are informed that the consent of the
Company was accorded at the 37th Annual General Meeting for the
payment of annual commission to all Independent Directors for a
period of ve years concluding on 31st March, 2013.
Considering the valuable services being rendered by the Independent
Directors and on the recommendation of the Remuneration Committee,
the Board of Directors at its meeting held on 30th May, 2013 has
approved, subject to the approval of the members, the payment to
all Independent Directors collectively by way of commission not
exceeding 1% per annum of the net prots of the Company computed
in accordance with the provisions of Sections 198, 349, 350 and
other relevant provisions of the Act, subject to a ceiling of 100 lacs
per annum, for a period of ve years commencing from the nancial
year 2013-14.
All Independent Directors of the Company are concerned or interested
in the resolution.

ATTENDANCE SLIP
(To be handed over at the Registration Counter at the venue)
Folio No./DP & Client ID:

Registered Office:
No. of Shares: 6, Community Centre, Saket,
New Delhi 110017
I/We hereby record my/our presence at the 42nd Annual General Meeting of the Company being held on Thursday, the 26th day of September,
2013 at 11:00 A.M. at Tivoli Daodils Hotel, Chattarpur Hills, Mehrauli, New Delhi - 110030
1.
Name(s) of the Member
and Joint Holder(s) 2.
(in block letters)
3.
Address
Fathers/Husbands Name
(of the Member)
Name of Proxy
1.
2.
3.
__________________________________ ______________________________________
Signature of the Proxy Signature(s) of Member and Joint Holder(s)
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
PROXY FORM
Folio No./DP & Client ID:

No. of Shares: Registered Office:
6, Community Centre, Saket,
New Delhi 110017
I/We __________________________________________________________ R/o ____________________________________________________________________________

being a Member/Members of UNITECH LIMITED hereby appoint Mr./Ms. __________________________________________________________________________
R/o _______________________________________________________________________________ or failing him/her, Mr./Ms. _________________________________
__________________________________________ R/o _______________________________________________________________________________ whose specimen
signatures are given hereunder, as my/our Proxy to attend and vote for me/us and on my/our behalf at the 42nd Annual General Meeting of
the Company to be held on Thursday, the 26th day of September, 2013 at 11:00 A.M. at Tivoli Daodils Hotel, Chattarpur Hills, Mehrauli,
New Delhi - 110030 and at any adjournment thereof.
1. 1.
2.
Ax
2. Revenue 3.
____________________________________________ Stamp _____________________________________________
Specimen signature of the Proxy(ies) Signature of the member(s)
Signed this ___________ day of _________________ 2013
Note: The proxy must be returned so as to reach the Registered Oce of the Company not later than 48 hours before the time for holding the
aforesaid meeting. The Proxy need not be a member of the Company. The shareholder may either vote for or against the resolutions.
IMPORTANT COMMUNICATION TO MEMBERS
The Ministry of Corporate Affairs took Green Initiative in Corporate
Governance by allowing paperless compliances by the companies and
permitted service of documents, including Annual Report, to its members
through electronic modes. To support this initiative, Members whose
e-mail IDs have not been registered, so far, are requested to register the
same with their respective Depository Participant, in respect of holdings
in Demat form and, with the Companys RTA, M/s Alankit Assignments
Ltd., in respect of shares held in physical form. And the members who
have already registered, may like to update their e-mail IDs, if required.
NOTES
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Collection of Relief Material for the affected in the Himalayan floods
Medical Camp at Uniword City, Chennai
Celebrating Independence Day at Sector 117, Noida
Children at Creche of Resort Villas, Gurgaon Children at Creche of Resort Villas, Gurgaon
NGO fair at Unitech Cyber Park, Gurgaon Children at Creche of Infospace, Gurgaon
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Unitech Limited
Corporate Office: Unitech House,
L Block, South City-I, Gurgaon-122001
Tel.: +91-124-4125200. Fax: +91-124-2383332
www.unitechgroup.com

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ANNUAL REPORT 2012-13

Homes that Inspire

Espace Premiere, Gurgaon

some of the most premium apartments and luxury villas in Noida,

Gurgaon, Kolkata, Bangalore and Chennai. Unitech luxury homes

are crafted and designed especially for the aficionados of luxury.

Income from operations 24,405.40 Million

Prot After tax 2,095.68 Million

Consolidated Net-worth of 113,905.80 Million

Prot Before Tax*

Long term debt to equity ratio of 0.50 4,358.06

Sales Bookings of over 28,000 Million

Area Sold 5.47 million square feet

Area Launched 3.98 million square feet

Area Delivered over 3 million square feet

Over 100 ongoing projects, totaling Total Assets

Bestowed with the Global CSR Excellence & 231,780.15

Felicitated as The Star Realty: Lord of the Land 2013

*Before extra-ordinary items 2011-12 2012-13

On the one hand its about shelter,

ANNUAL REPORT 2012-13

The rst real estate developer to have

Indian Power Brand 2013 for being one of

The Star Realty: Lord of the Land 2013

Global CSR Excellence & Leadership Award

Realty Mogul for being an admired brand

Power Brand 2010-2011 by the Indian

Conferred with the title of Superbrand by

CW Architect and Builders Award, 2008 for

ANNUAL REPORT 2012-13

Executive Chairman Mr. Ramesh Chandra

Managing Directors Mr. Ajay Chandra

Non-Executive Director Ms. Minoti Bahri

Independent Directors Mr. G. R. Ambwani

Executive Vice-President & Chief Financial Ofcer Mr. Manoj Popli

Vice-President & Company Secretary Mr. Deepak Jain

Auditors M/s Goel Garg & Co.

ANNUAL REPORT 2012-13

Management Discussion and Analysis 10

Corporate Governance Report 20

Consolidated Financial Statements 34

Karma Lakelands, Gurgaon

Standalone Financial Statements 90

Statement Pursuant to General Exemption issued by

Notice of the 42nd Annual General Meeting 158

Attendance Slip/Proxy Form 162

Whatever good things we

ANNUAL REPORT 2012-13

I am pleased to share with you that during the last scal

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Particulars 2012-13 2011-12

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Commercial Leasing Business DIRECTORS

SUBSIDIARIES DIRECTORS RESPONSIBILITY STATEMENT

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The home should be the

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OVERVIEW reect this phase of development as the accounting of

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The impact of monetary policy in boosting GDP growth is contingent 12 10.2

Source: MOSPI, Government of India

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CHART G NEW LAUNCHES AND SALES BOOKING

5.00 Area Launched (mn sq.ft.) 1,200

1,068 Area Sold (mn sq.ft.)

1,020 941 1,000

3.00 2.78 700

TABLE 2 NEW LAUNCHES IN FY2013

ANNUAL REPORT 2012-13

Area (in mn Sq. ft.)