We have audited the accompanying standalone financial statements
of Ansal Housing Limited ("the Company”), which comprise the
Balance Sheet as at March 31, 2025, the standalone statement of
Profit and Loss (including Other Comprehensive Income), the
standalone statement of changes in equity and the standalone
statement of cash flows for the year then ended, and notes to the
standalone financial statements including a summary of material
accounting policies and other explanatory information (hereinafter
referred to as "standalone financial statements”).

In our opinion and to the best of our information and according to
the explanations given to us, the accompanying standalone financial
statements give the information required by the Act in the manner
so required and give a true and fair view in conformity with the
accounting principles generally accepted in India, of the state of
affairs of the Company as at March 31, 2025, and profit (financial
performance including other comprehensive income), changes in
equity and its cash flows for the year ended on that date.

Basis of Opinion

We conducted our audit in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the Companies
Act, 2013 (the Act). Our responsibilities under those Standards are
further described in the Auditor's Responsibilities for the audit of
standalone financial statements section of our report. We are
independent of the Company in accordance with the Code of Ethics
issued by the Institute of Chartered Accountants of India together
with the ethical requirements that are relevant to our audit of the
standalone financial statements under the provisions of the
Companies Act, 2013 and the Rules there under, and we have fulfilled
our other ethical responsibilities in accordance with these
requirements and the ICAI's Code of Ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide
a basis for our opinion on the standalone financial statements.

Emphasis of Matter

1. We draw attention to Note 34 to the standalone financial
statements regarding pending litigation matters with Court/
Appellate Authorities. Due to the significance of the balance to
the standalone financial statements as a whole and the
involvement of estimates and judgement in the assessment
which is being technical in nature, the management is of the
opinion that the company will succeed in the appeal and there
will not be any material impact on the statements on account of
probable liability vis-a-vis the provisions already created in the
books.

2. We draw attention to Note 52 of the standalone financial
statements which describe that the Company have a system of
obtaining periodic confirmation of balances from various parties
(other than disputed parties). The External Balance Confirmations
were sent to banks and parties and certain parties' balances are
subject to confirmation/reconciliation. Adjustments, if any will
be accounted for on confirmation/reconciliation of the same,
which in the opinion of the management will not have a material
impact.

3. We draw attention to Note 53 of the standalone financial
statement which describe the matter of the Company with the
Samyak Projects Private Limited ("Samyak”/”Collaborator”).

4. We draw attention to Note 61 of the standalone financial
statements regarding the net recoverable value of advances/
security deposits paid by the company for the acquisition of
land/project development.

Our opinion is not modified in respect of these matters.

Key Audit Matters

Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the standalone
financial statements of the current period. These matters were
addressed in the context of our audit of the standalone financial
statements as a whole and in forming our opinion thereon, and we
do not provide a separate opinion on these matters.

Information Other than the standalone financial statements and
Auditor's Report Thereon

The Company's Board of Directors is responsible for the other
information. The other information comprises the information
included in the Management Discussion & Analysis, Board's Report
including Annexures to Board's Report, Business Responsibility
Report, Corporate Governance and Shareholder's Information, but
does not include the standalone financial statements and our
auditor's report thereon.

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

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

If based on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to
report that fact. We have nothing to report in this regard.
Responsibility of Management and Those Charged with
Governance for Standalone Financial Statements
The Company's Board of Directors is responsible for the matters
stated in section 134(5) of the Companies Act, 2013 ("the Act”) with
respect to the preparation of these standalone financial statements
that give a true and fair view of the financial position, financial
performance (including other comprehensive income), changes in
equity and cash flows of the Company in accordance with the
accounting principles generally accepted in India, including the
accounting Standards specified under section 133 of the Act. This
responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding
of the assets of the Company and for preventing and detecting frauds
and other irregularities; selection and application of appropriate
implementation and maintenance of accounting policies; making
judgments and estimates that are reasonable and prudent; and
design, implementation and maintenance of adequate internal
financial controls, that were operating effectively for ensuring the
accuracy and completeness of the accounting records, relevant to
the preparation and presentation of the standalone financial
statement that gives a true and fair view and are free from material
misstatement, whether due to fraud or error.

In preparing the standalone financial statements, management is
responsible for assessing the Company's ability to continue as a going
concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless management
either intends to liquidate the Company or to cease operations, or
has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the
company's financial reporting process.

Auditor's Responsibilities for the Audit of Standalone Financial
Statements

Our objectives are to obtain reasonable assurance about whether
the standalone financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level
of assurance but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material misstatement when
it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users
taken on the basis of these standalone financial statements.

As part of an audit in accordance with SAs, we exercise professional
judgment and maintain professional skepticism throughout the audit.
We also:

• Identify and assess the risks of material misstatement of the
standalone financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks,
and obtain audit evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is higher than for
one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of
internal control.

• Obtain an understanding of internal control relevant to the audit
in order to design audit procedures that are appropriate in the
circumstances. Under section 143(3)(i) of the Companies Act,
2013, we are also responsible for expressing our opinion on
whether the company has adequate internal financial controls
system in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and
the reasonableness of accounting estimates and related
disclosures made by management.

• Conclude on the appropriateness of management's use of the
going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists related
to events or conditions that may cast significant doubt on the
Company's ability to continue as a going concern. If we conclude
that a material uncertainty exists, we are required to draw
attention in our auditor's report to the related disclosures in
the standalone financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based
on the audit evidence obtained up to the date of our auditor's
report. However, future events or conditions may cause the
Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the
standalone financial statements, including the disclosures, and
whether the standalone financial statements represent the
underlying transactions and events in a manner that achieves
fair presentation.

Materiality is the magnitude of misstatements in the standalone
financial statements that, individually or in aggregate, makes it
probable that the economic decisions of a reasonably knowledgeable
user of the standalone financial statements may be influenced. We
consider quantitative materiality and qualitative factors in (i) planning
the scope of our audit work and in evaluating the results of our work;
and (ii) to evaluate the effect of any identified misstatements in the
standalone financial statements.

We communicate with those charged with governance regarding,
among other matters, the planned scope and timing of the audit
and significant audit findings, including any significant deficiencies
in internal control that we identify during our audit.

We also provide those charged with governance with a statement
that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and
other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.

From the matters communicated with those charged with
governance, we determine those matters that were of most
significance in the audit of the standalone financial statements of
the current period and are therefore the key audit matters. We
describe these matters in our auditor's report unless law or regulation
precludes public disclosure about the matter or when, in extremely
rare circumstances, we determine that a matter should not be
communicated in our report because the adverse consequences of
doing so would reasonably be expected to outweigh the public
interest benefits of such communication.

Other Matter

1. Attention is invited to Note 1.19 (a) & (b) of standalone Financial
Statements, the status of various ongoing projects, recognition
of expense and income and the realizable value of the costs
incurred are as per the judgment of Management of the
Company and certified by their technical personnel and being
of technical nature, have been relied upon by us.

2. The statutory audit was conducted via making arrangements to
provide requisite documents/ information through an electronic
medium. The Company has made available the following

information/ records/ documents/ explanations to us through
e-mail and remote secure network of the Company: -

a. Scanned copies of necessary records/documents deeds,
certificates and the related records made available
electronically through e-mail or remote secure network
of the Company; and

b. By way of enquiries through video conferencing,
dialogues and discussions over the phone, e-mails and
similar communication channels.

It has also been represented by the management that the data
and information provided electronically for the purpose of our
audit are correct, complete, reliable and are directly generated
from the accounting system of the Company, extracted from
the records and files, without any further manual modifications
so as to maintain its integrity, authenticity, readability and
completeness. In addition, based on our review of the various
internal audit reports/inspection reports/other reports (as
applicable), nothing has come to our knowledge that makes us
believe that such an audit procedure would not be adequate.
Our opinion is not modified in respect of these matters.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2020
("the Order”), issued by the Central Government of India in terms
of sub-section (11) of section 143 of the Companies Act, 2013,
we give in the "Annexure A” statement on the matters specified
in paragraphs 3 and 4 of the Order, to the extent applicable.

2. With respect to the other matters to be included in the Auditor's
Report in accordance with the requirements of section 197(16)
of the Act, as amended:

In our opinion and to the best of our information and according
to the explanations given to us, the remuneration paid by the
Company to its directors during the year is in accordance with
the provisions of section 197 of the Act.

3. As required by Section 143(3) of the Act, we report that:

a) We have sought and obtained all the information and
explanations which to the best of our knowledge and
belief were necessary for the purposes of our audit.

b) In our opinion, proper books of account as required by
law have been kept by the Company so far as it appears
from our examination of those books.

c) The Balance Sheet, the Statement of Profit and Loss
(including other comprehensive income), the Cash Flow
Statement and the statement of changes in equity dealt
with by this Report are in agreement with the books of
account.

d) In our opinion, the aforesaid standalone financial
statements comply with the Accounting Standards
specified under Section 133 of the Act, read with
Companies (Indian Accounting Rules) Rules, 2015, as
amended.

e) the matter described under para 1 and 3 of "Emphasis of
Matter” relating to litigation matter/disputed matters
above in the event of being decided unfavourable and in
the event of significant discrepancies for matters
described under para 2 and 4 of "Emphasis of Matter”

above, in our opinion, may have an adverse impact on
the functioning of the company.

f) On the basis of the written representations received from
the directors as on March 31, 2025 taken on record by
the Board of Directors, none of the directors is disqualified
as on March 31, 2025 from being appointed as a director
in terms of Section 164 (2) of the Act.

g) With respect to the adequacy of the internal financial
controls over financial reporting of the Company and the
operating effectiveness of such controls, refer to our
separate Report in "Annexure B”.

h) With respect to the other matters to be included in the
Auditor's Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, in our
opinion and to the best of our information and according
to the explanations given to us:

i. The Company has disclosed the impact of pending
litigations on its financial position in its standalone
financial statements - Refer Note 34 to the
standalone financial statements.

ii. The Company has made provision, as required
under the applicable law or accounting standards,
for material foreseeable losses, if any, on long-term
contracts including derivative contracts. Further, the
company did not have any derivative contract.

iii. There has been no delay in transferring amounts,
required to be transferred, to the Investor Education
and Protection Fund by the Company.

iv. (a) The management has represented that, to the

best of its knowledge and belief, as disclosed
in the notes to the accounts, no funds (which
are material either individually or in
aggregate) have been advanced or loaned or
invested (either from borrowed funds or share
premium or any other sources or kind of
funds) by the company to or in any other
person(s) or entity (ies), including foreign
entities ("Intermediaries”), with the
understanding, whether recorded in writing
or otherwise, that the Intermediary shall,
whether, directly or indirectly lend or invest
in other persons or entities identified in any
manner whatsoever by or on behalf of the
company ("Ultimate Beneficiaries”) or provide
any guarantee, security or the like on behalf
of the Ultimate Beneficiaries.

(b) The management has represented, that, to the
best of its knowledge and belief, as disclosed
in the notes to the accounts, no funds (which
are material either individually or in
aggregate) have been received by the
company from any person(s) or entity(ies),
including foreign entities ("Funding Parties”),
with the understanding, whether recorded in
writing or otherwise, that the company shall,
whether, directly or indirectly, lend or invest
in other persons or entities identified in any
manner whatsoever by or on behalf of the
Funding Party ("Ultimate Beneficiaries”) or
provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries; and

(c) Based on the audit procedures performed that
have been considered reasonable and
appropriate in the circumstances, nothing has
come to our notice that has caused us to
believe that the representations under sub¬
clause (a) and (b) contain any material
misstatement.

v. There is no dividend declared or paid during the
year by the company.

vi. Based on our examination which included test
checks, the company has used an accounting
software for maintaining its books of account which
has a feature of recording an audit trail (edit log),
except at the database level, and the same has
operated throughout the year for all relevant
transactions recorded in the software. Further,
during the course of our audit, we did not come
across any instance of audit trail feature being
tampered with and the audit trail has been
preserved by the company as per the statutory
requirements for record retention.

For Dewan P N Chopra & Co.

Chartered Accountants
Firm Regn. No. 000472N

Sandeep Dahiya

Partner

Date : May 28, 2025 Membership No. 505371

Place : Vaishali, Ghaziabad UDIN: 25505371BMHZEQ8688