h. Provisions, Contingent liabilities

Provisions are recognized when the company has a present obligation (legal or constructive) as a result of a past event, it
is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the statement of
profit and loss. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to
the passage of time is recognized as a finance cost.

A contingent liability is disclosed in case of;

- a present obligation arising from past events, when it is not probable that an outflow of resources will be required to settle
the obligation;

- a present obligation arising from past events, when no reliable estimate is possible ;

- a possible obligation arising from past events, unless the probability of outflow of resources is remote.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

i. Revenue recognition

(i) Performance obligation in contracts with customers is met throughout the stay of guest in the hotel or on rendering of
services and sale of goods.

(ii) Revenue towards satisfaction of a performance obligation is measured at the amount of transaction price (net of
variable consideration) allocated to that performance obligation. The transaction price of services rendered is net of
variable consideration on account of various trade discounts and schemes offered by the Company as part of the
contract.

(iii) Interest income is accrued on a time proportion basis using the effective interest rate method.

Hospitality Services:

Revenue from hospitality services is recognised when the services are rendered and the same becomes chargeable or
when collectability is certain. This includes room revenue and food and beverage revenue.

Membership Fees:

Membership fee consists of fees received from the Hyatt Club members. Membership joining fee is charged when the
customer enrolls for membership programmes and membership renewal fee is charged at the time of yearly renewal of the
membership. In respect of performance obligations satisfied over a period of time, revenue is recognised at the allocated
transaction price on a time-proportion basis.

j. Income taxes

The Company calculates income tax expense based on reported income. Deferred income tax expense is calculated based
on the differences between the carrying value of assets and liabilities for financial reporting purposes and their respective tax
basis that are considered temporary in nature. Valuation of deferred tax assets is dependent on management's assessment
of future recoverability of the deferred benefit. Expected recoverability may result from expected taxable income in the
future, planned transactions or planned tax optimizing measures. Economic conditions may change and lead to a different
conclusion regarding recoverability.

k. Leases

The Company assesses whether a contract is or contains a lease, at inception of the contract. The Company recognises a
right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except
for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets. The lease
payments that are not paid at the commencement date are discounted using the incremental borrowing rate. The lease
payment includes fixed lease payment, variable lease payment, exercise price of purchase option, penalties for termination
of contract and any amount expected to pay.

l. Employee benefits:

Provident Fund: Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no
obligation, other than the contribution payable to the provident fund. The Company recognizes contribution payable to the
provident fund scheme as an expense, when an employee renders the related service.

Gratuity & Leave Encashment (Unfunded): Provision for gratuity and leave encashment are based on actuarial valuation
as on the date of the Balance Sheet. The valuation is done by an independent actuary using the projected unit credit
method. Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts
included in net interest on the net defined benefit liability and the return on plan assets are recognised immediately in
the balance sheet with a corresponding debit or credit to retained earnings through OCI in the period in which they occur.
Remeasurements are not reclassified to profit or loss in subsequent periods.

All employee benefits payable wholly within twelve months rendering services are classified as short term employee benefits.
Benefits such as salaries, wages, short-term compensated absences, performance incentives etc., and the expected cost
of bonus, ex-gratia are recognised during the period in which the employee renders related service.

m. Foreign Currencies - Foreign Exchange Transactions
Transactions and balances

Transactions in foreign currencies are initially recorded by the Company at their functional currency spot rates at the date
the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated
at the functional currency spot rates of exchange at the reporting date.

Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss.

n. Dividend

The Board of Directors of the Company have proposed final dividend of Re. 1 per share (10%) which is subject to the
approval of the members in the ensuing Annual General Meeting. The dividend proposed is in accordance with Section 123
of the Act, as applicable.

o. Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision
maker. The board of directors of Asian Hotels (East ) Limited generally assesses the financial performance and position of
the company, and makes strategic decisions.

?. Impairment of non-current assets- Ind AS 36 requires that the Company assesses conditions that could cause an asset
or a Cash Generating Unit (CGU) to become impaired and to test recoverability of potentially impaired assets. These
conditions include internal and external factors such as the Company's market capitalization, significant changes in the
Company's planned use of the assets or a significant adverse change in the expected prices, sales volumes or raw material
cost. The identification of CGUs involves judgment, including assessment of where active markets exist, and the level of
interdependency of cash inflows. CGU is usually the individual plant, unless the asset or asset group is an integral part of a
value chain where no independent prices for the intermediate products exist, a group of plants is combined and managed
to serve a common market, or where circumstances otherwise indicate significant interdependencies.

In accordance with Ind AS 36, goodwill and certain intangible assets are reviewed at least annually for impairment. If a
loss in value is indicated, the recoverable amount is estimated as the higher of the CGU's fair value less cost to sell, or its
value in use. Directly observable market prices rarely exist for the Company's assets, however, fair value may be estimated
based on recent transactions on comparable assets, internal models used by the Company for transactions involving the
same type of assets or other relevant information. Calculation of value in use is a discounted cash flow calculation based on
continued use of the assets in its present condition, excluding potential exploitation of improvement or expansion potential.

Determination of the recoverable amount involves management estimates on highly uncertain matters, such as commodity
prices and their impact on markets and prices for upgraded products, development in demand, inflation, operating expenses
and tax and legal systems. The Company uses internal business plans, quoted market prices and the Company's best
estimate of commodity prices, currency rates, discount rates and other relevant information. A detailed forecast is developed
over the period of three years with projections thereafter. The Company does not include a general growth factor to volumes
or cash flows for the purpose of impairment tests, however, cash flows are generally increased by expected inflation and
market recovery towards previously observed volumes.

Rounding Off: For the purpose of rounding off the figures appearing in the Financial Statements for financial year ending
31.03.2025 the total income of the Company shall be considered instead of Turnover.

2. Key Accounting Estimates & Judgements

The preparation of the Company's financial statements requires the management to make judgements, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures,
and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that
require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

The key assumptions concerning the future and other key sources of estimate uncertainty at the reporting date, that have a
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year,
are described below:

a. Income taxes

Deferred tax assets are recognized for unused tax losses/MAT carry forward to the extent is possible that taxable profit
will be available against which the losses can be utilized. Significant management judgement is required to determine the
amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits
together with future tax planning strategies including amount expected to be paid / recovered for uncertain tax positions.

b. Property, Plant and Equipment and Useful Life of PPE and Intangible Assets

Property, Plant and Equipment represent a significant proportion of the asset base of the Company. The charge in respect
of periodic deprecation is derived after determining an estimate of an asset's expected useful life and the expected residual
value at the end of its life. The useful lives and residual value of Companys' assets are determined by the management at
the time the asset is acquired and reviewed periodically, including at each financial year end. The life based on historical
experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in
technical or commercial obsolescence arising from changes or improvements in production or from a change in market
demand of the products or service output of the asset.

The Company has applied significant judgment in determining that the 999-year leasehold land meets the criteria for
recognition as PPE instead of a lease under Ind AS 116, based on the substance of the arrangement as explained in Note
no. 3.

?. Defined Benefit Plans

Post-employment benefits represents obligation that will be settled in future and require assumptions to project benefit
obligations. Post- employment benefit accounting is intended to reflect the recognition of future benefit cost over the

employee's approximate service period, based on the terms of plans and the investment and funding decisions made. The
accounting require the Company to make assumptions regarding variables such as discount rate, rate of as at and for the
year ended March 31,2025.

d. Fair value measurement of Financial Instruments

When the fair values of financial assets and financial liabilities recorded in the Balance Sheet cannot be measured based
on quoted prices in active markets, their fair value is measured using valuation techniques, including the discounted cash
flow model, which involve various judgements and assumptions.

e. Provisions and Contingencies

Legal proceedings covering a range of matters are pending against the Company. Due to the uncertainty inherent in such
matters, it is often difficult to predict the final outcomes. The cases and claims against the Company often raise difficult
and complex factual and legal issues that are subject to many uncertainties and complexities, including but not limited to
the facts and circumstances of each particular case and claim, the jurisdiction and the differences in applicable law, in
the normal course of business. The Company consults with legal counsel and certain other experts on matters related to
lotogations. The Company accrues a liability when it is determined that an adverse outcome is probable and the amount of
the loss can be reasonably estimated. In the event an adverse outcome is possible or an estimate is not determinable, the
matter is disclosed.

NOTE : (1) The title deeds of the immovable property are in the name of the Company.

(2) The Company has taken land on a 999-year lease. The Company has evaluated its long-term land lease arrangements by
applying the principle of substance over form. In this case, the lease gives the Company full control of the land for a very
long period, there is no significant ownership interest left with the lessor, and a large payment was made upfront. Consid¬
ering these factors, the lease is similar in nature to owning the land. Therefore, the Company has treated the leasehold
land as property, plant and equipment (PPE).

Refer “Statement of changes in Equity” for movement details
Description of nature and purpose of each reserve :-

a. Capital Redemption Reserve

It represents redemption of 1% cumulative Redeemable non-convertible preference shares transferred to the company pursuant
to the scheme of Arrangement & Demerger approved by the Hon'ble High Court of Delhi vide order dated 13-01-2010.

b. General Reserve

General Reserve is created from time to time by way of transfer of profits from retained earnings for appropriation purposes.
General Reserve is created by a transfer from one component of equity to another and is not an item of Other Comprehensive
Income.

c. Retained earnings

Amount of retained earnings represents accumulated profit and losses of the Company as on reporting date. Such profi ts and
losses are after adjustment of payment of dividend, transfer to any reserves as statutorily required and adjustment for realised
gain/loss on derecognition of equity instruments measured at FVTOCI.

d. FVTOCI reserve has arisen out of measuring equity instruments through Other Comprehensive Income (OCI).

The carrying amount of financial assets and financial liabilities measured at amortised cost in the Financial Statements are a reasonable
approximation of their fair values since the Company does not anticipate that the carrying amounts would be significantly different from
the values that would eventually be received or settled.

The Company's investment in the equity shares of its subsidiaries is recognised at cost.

32. Financial Risk Management
Financial risk factors

The Company's activities expose it to a variety of financial risks : market risk, liquidity risk and credit risk.

Market risk

Market risk is the risk that the changes in market prices such as foreign exchange rates and equity prices will affect the Company's
income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market
risk exposures within acceptable parameters, while optimising the return.

a) Foreign Currency risk

The Company is exposed to foreign exchange risk through its purchases from overseas suppliers and payment for services availed in
various foreign currencies. The Company pays off its foreign exchange exposure within a short period of time, thereby mitigates the
risk of material changes in exchange rate on foreign currency exposure.

The following table analyses foreign currency risk from financial instruments as of 31st March 2025 and 31st March 2024.

b) Other Market Price Risks

The Company's investments in debt-oriented mutual funds are subject to market risk arising from changes in interest rates, credit
spreads, and liquidity conditions. An adverse movement in these factors may affect the net asset value (NAV) of such investments.
The Company monitors these risks periodically. Refer Note no. 5(b) for the exposure.

Liquidity risk

It is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled
by delivering cash or another financial asset. The Company's principle source of liquidity are cash and cash equivalent, cash flows
from operations and investment in mutual funds. The Company's approach to managing liquidity is to ensure, as far as possible, that
it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring
unacceptable losses or risking damage to the Company's reputation. Typically the Company ensures that it has sufficient cash on
demand to meet expected short term operational expenses.

The table below provides details regarding the contractual maturities of financial liabilities as of March 31,2025:

Credit risk on Investments primarily include investments in liquid mutual fund units, quoted bonds and investment in subsidiaries.
Loans are provided to subsidiary and are in the nature of short term as the same is repayable on demand.

33. Capital Management

For the purpose of managing capital, Capital includes issued equity share capital and reserves attributable to the equity holders.

The objective of the company's capital management are to:

- Safeguard their ability to continue as going concern so that they can continue to provide benefits to their shareholders.

- Maximisation the wealth of the shareholder.

- Maintain optimum capital structure to reduce the cost of the capital.

b) Defined benefit plans

i. Contribution to Gratuity fund

In accordance with Indian Accounting Standard 19, Employee Benefits, actuarial valuation was done in respect of the aforesaid
defined benefit plans based on the following assumptions: -

Economic Assumptions

The discount rate and salary increase assumed are key financial assumptions and should be considered together; it is the difference
or ‘gap' between these rates which is more important than the individual rates in isolation.

Discount Rate

The discounting rate is based on the gross redemption yield on medium to long-term risk free investments. For the current valuation
a discount rate of 7.04 % p.a. compound, has been used.

Salary Escalation Rate

The salary escalation rate usually consists of at least three components, viz. Regular increments, price inflation and promotional
increases. In addition to this any commitments by the management regarding future salary increases and the Company's philosophy
towards employee remuneration are also to be taken into account. Again, a long- term view as to the trend in salary increase rates
has to be taken rather than be guided by the escalation rates experienced in the immediate past, if they have been influenced by
unusual factors.

1. The discount rate is based on the prevailing market yields of Indian Government securities as at the balance sheet date for the
estimated term of obligations.

2. The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion
and other relevant factors including supply and demand in the employment market.

3. The gratuity plan and earned leave is unfunded.

Demographic assumptions:

a. Retirement age : 58 years

b. Mortality rate : Published rates under Indian Assured Lives Mortality (IALM) Ultimate table
Description of Risk Exposures:

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company is exposed to
various risks as follow :-

a) Salary Increases- Actual salary increases will increase the Plan's liability. Increase in salary increase rate assumption in future
valuations will also increase the liability.

b) Discount Rate : Reduction in discount rate in subsequent valuations can increase the plan's liability.

c) Mortality & disability - Actual deaths & disability cases proving lower or higher than assumed in the valuation can impact the
liabilities.

d) Withdrawals - Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal rates at
subsequent valuations can impact Plan's liability.

(i) The Company declared and paid a dividend of 25% for the FY 2023-24.

(ii) The Board has recommended a final dividend of Re. 1.00 per equity share (10%) for the FY 2024-25, subject to the approval of
members in the ensuing Annual General Meeting. The dividend proposed is in accordance with section 123 of the Companies
Act, 2013, as applicable.

38. Leases:

The Company has entered into Operating lease agreements for letting out space. The lease agreements are made for specific period
as per agreement. Lease payments received recognized in the Statement of Profit & Loss for the year ended amounted to Rs 123.56
lakhs.

The future receipts for operating lease are as follows:

(i) Against above, for the Income Tax case pertaining to AY 2015-16, the company had deposited Rs 19 lakhs in the previous year,
under protest.

(ii) Against above, for the Income Tax case pertaining to AY 2020-21, the company has deposited Rs 75 lakhs in the current year,
under protest.

(iii) The Company is contesting the demands and the Management believe that its position is likely to be upheld in the appellate
process. No expense has been accrued in these financial statements for the demands raised by the authorities. The Management
believes that the ultimate outcome of this proceeding will not have a material adverse effect on the Company's financial position.

Code of Conduct :

Code on Social Security, 2020: The date of implementation of the Code on Social Security, 2020 (‘the Code') relating to employee
benefits is yet to be notified by the Government and when implemented will impact the contributions by the Company towards benefits
such as Provident Fund, Gratuity etc. The Company will assess the impact of the Code and give effect in the financial results when
the Code and Rules thereunder are notified.

43. Exceptional items for the year-ended 31st March 2024 represents reversal of provision for VAT amounting to Rs 815.54 lakhs
relating to a demand by the WBVAT department which was quashed by the West Bengal Tax Tribunal (WBTT) by an order dated
04-08-2023.

44. (i) Pursuant to the order dated 9th January 2024 issued by the Hon'ble NCLAT, New Delhi Bench, and in accordance with the

arrangements entered into with the promoters of Asian Hotels (West) Ltd, New Delhi ("AHWL"), the Company's material
wholly-owned subsidiary, Novak Hotels Pvt Ltd (“Novak”), is in the process of acquiring the Hyatt Regency, Mumbai (“HRM”)
from AHWL

Further, physical possession of the property was taken over by Novak. However, the legal formalities relating to the acquisition
is still pending, primarily due to non-fulfilment of a condition under the framework agreement signed with the promoters of
AHWL, which relates to the revocation of suspension of trading in the equity shares of AHWL.

In this regard, Novak Hotels has borrowed Rs. 40,294.94 lakhs from various group companies and other entities, including
an interest-bearing loan of Rs. 19,036.12 lakhs from the Company (the Interest amount was Rs 3,326.85 lakhs. The amount
deposited by Novak Hotels with the Hon'ble NCLAT, New Delhi Bench, in compliance with the directions of the Bench, has
been considered as an advance to AHWL and will be adjusted at the time of acquisition of HRM in the books of Novak.

(ii) GJS Hotels Ltd (“GJS”), a wholly owned subsidiary of the Company, has filed a writ petition before the Hon'ble High Court of
Odisha, Cuttack, challenging the order dated 2nd November 2024 issued by the Government of Odisha through the General
Administration & Public Grievance Department. The said order pertains to the determination of the lease deed executed with
the Government and the resumption/taking over of possession of the leasehold land held by GJS in Bhubaneswar.

47. Pursuant to the provisions of Section 124 & 125 of the Companies Act, 2013 read with the Investor Education and Protection
Fund (IEPF) Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (the Rules), Rs. 4.59 lakhs and 11,444 shares have
been transferred to the IEPF for the dividend declared in the financial year ended 2016-17 and the respective shares whose
dividend remained unpaid or unclaimed for seven consecutive years. Further, Rs. 0.08 lakhs of F.Y 2016-17 and its 4,095 shares
of F.Y 2016-17 being restrained shares could not be transferred to the IEPF pursuant to Rule 6(3)(b) of the Rules, the due date
of transfer of which was September 02, 2024.

48. Estimated amount of Capital Contracts pending to be executed (Net of Advances) - Rs 47.33 lakhs (Previous Year -
Rs. 19.31 lakhs).

49. Notes on number of Layer Companies

The Company has complied with the number of layers prescribed under clause 87 of section 2 of the Act read with Companies
(Restriction on number of Layers) Rules, 2017.

50. Relationship with Struck off Companies

The Company do not have any transactions with company's struck off during the period ending 31st March, 2025 and also for the
period ending 31st March, 2024.

51. Utilization of borrowed funds

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
("Intermediaries") with the understanding, that the intermediary shall lend or invest in party identified by or on behalf of the
Company (Ultimate Beneficiaries) except as mentioned in Note no. 44(i) above.

The Company has not received any fund from any other person(s) or entity(ies), including foreign entities ("Intermediaries") with
the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or
on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries.

52. Details of Benami Property held

The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company during
the period ending 31st March, 2025 and also for the period ending 31st March, 2024 for holding any Benami property.

53. Wilful Defaulter

The Company has not been declared willful defaulter by any bank or financial institution or any other lender.

54. Undisclosed Income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the
Income Tax Act, 1961, that has not been recorded in the books of account.

55. Utilisation of borrowings from banks or financial institutions

The borrowings obtained by the company from banks or financial institutions have been applied for the purposes for which such
loans were taken.

56. Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

57. Registration of charges or satisfaction with Registrar of Companies (ROC)

The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period, during
the period ending 31st March, 2025 and also for the period ending 31st March, 2024.

58. Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual Currency during the period ended 31st March, 2025 and
also for the period ended 31st March, 2024.

59. Valuation of PP&E, right-of-use assets, intangible asset and investment property

The Company has not revalued its property, plant and equipment or intangible assets or both during the current or previous
financial year.

60. Previous Year figures have been regrouped / reclassified, wherever necessary.

As per our Report of even date For and on behalf of the Board of Directors

For Singhi & Co. Arun Kr Saraf Umesh Saraf

Chartered Accountants Director Director

Firm Registration. No. 302049E DIN - 00339772 DIN - 00017985

M L Shukla Sandipan Chakravortty Swati Singhania

Partner Director Director

Membership No. : 051505 DIN - 00053550 DIN - 03610903

Shourya Sengupta Devesh Saraf

Director Director
DIN - 09216561 DIN - 07778585

Bimal Kr Jhunjhunwala Saumen Chatterjee

Place : Kolkata Chief Financial Officer Chief Legal Officer & Company Secretary

Date: 30th May 2025