O. Provisions and contingent liabilities

Provision

A provision is recognized when the Company has a
present obligation as a result of 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. Provisions are not discounted to their present
value and are determined based on the best estimate
required to settle the obligation at the reporting date.
These estimates are reviewed at each reporting date
and adjusted to reflect the current best estimates.

Contingent liabilities

A contingent liability is a possible obligation that arises
from past events whose existence will be confirmed
by the occurrence or non-occurrence of one or more
uncertain future events beyond the control of the
Company or a present obligation that is not recognized
because it is not probable that an outflow of resources
will be required to settle the obligation. A contingent
liability also arises in extremely rare cases where there
is a liability that cannot be recognized because it cannot
be measured reliably. The Company does not recognize
a contingent liability but discloses its existence in the
standalone financial statements.

P. Cash and cash equivalents

The Company considers all highly liquid financial
instruments, which are readily convertible into known
amounts of cash that are subject to an insignificant risk
of change in value and having original maturities of
three months or less from the date of purchase, to be
cash equivalents.

Q. Financial instruments

A financial instrument is any contract that gives rise to
a financial asset of one entity and a financial liability or
equity instrument of another entity.

(i) Financial assets

Recognition and initial measurement

At initial recognition, financial asset is measured at
its fair value plus, in the case of a financial asset
not at fair value through profit or loss, transaction
costs that are directly attributable to the acquisition
of the financial asset. Transaction costs of financial
assets carried at fair value through profit or loss
are expensed in profit or loss.

Subsequent measurement

For purposes of subsequent measurement, financial
assets are classified in following categories:

a) at amortized cost; or

b) at fair value through other comprehensive
income; or

c) at fair value through profit or loss.

The classification depends on the entity's business
model for managing the financial assets and the
contractual terms of the cash flows.

Amortized cost

Assets that are held for collection of contractual
cash flows where those cash flows represent solely
payments of principal and interest are measured

at amortized cost. Interest income from these
financial assets is included in finance income using
the effective interest rate method (EIR).

Fair value through other comprehensive
income (FVTOCI)

Assets that are held for collection of contractual
cash flows and for selling the financial assets,
where the assets' cash flows represent solely
payments of principal and interest, are measured
at fair value through other comprehensive income
(FVTOCI). Movements in the carrying amount are
taken through OCI, except for the recognition
of impairment gains or losses, interest revenue
and foreign exchange gains and losses which are
recognized in Statement of Profit and Loss. When the
financial asset is derecognized, the cumulative gain
or loss previously recognized in OCI is reclassified
from equity to Statement of Profit and Loss and
recognized in other gains/ (losses). Interest income
from these financial assets is included in other
income using the effective interest rate method.

Fair value through profit or loss (FVTPL)

Assets that do not meet the criteria for amortized
cost or FVTOCI are measured at fair value through
profit or loss. Interest income from these financial
assets is included in other income.

Equity instruments

All equity investments in scope of Ind AS 109 are
measured at fair value. Equity instruments which
are held for trading and contingent consideration
recognized by an acquirer in a business combination
to which Ind AS103 applies are classified as at FVTPL.
For all other equity instruments, the Company may
make an irrevocable election to present in other
comprehensive income subsequent changes in the
fair value. The Company makes such election on an
instrument- by-instrument basis. The classification
is made on initial recognition and is irrevocable.

If the Company decides to classify an equity
instrument as at FVTOCI, then all fair value
changes on the instrument, excluding dividends,
are recognized in the OCI. There is no recycling
of the amounts from OCI to P&L, even on sale of
investment. However, the Company may transfer
the cumulative gain or loss within equity.

Equity instruments included within the FVTPL
category are measured at fair value with all changes
recognized in the profit and loss.

Impairment of financial assets

In accordance with Ind AS 109, Financial
Instruments, the Company applies expected credit

loss (ECL) model for measurement and recognition
of impairment loss on financial assets that are
measured at amortized cost and FVTOCI.

For recognition of impairment loss on financial
assets and risk exposure, the Company determines
that whether there has been a significant increase
in the credit risk since initial recognition. If credit
risk has not increased significantly, 12-month ECL
is used to provide for impairment loss. However, if
credit risk has increased significantly, lifetime ECL
is used. If in subsequent years, credit quality of the
instrument improves such that there is no longer
a significant increase in credit risk since initial
recognition, then the entity reverts to recognizing
impairment loss allowance based on 12 month ECL.

Life time ECLs are the expected credit losses
resulting from all possible default events over
the expected life of a financial instrument. The 12
month ECL is a portion of the lifetime ECL which
results from default events that are possible within
12 months after the year end.

ECL is the difference between all contractual cash
flows that are due to the Company in accordance
with the contract and all the cash flows that
the entity expects to receive (i.e. all shortfalls),
discounted at the original EIR. When estimating
the cash flows, an entity is required to consider
all contractual terms of the financial instrument
(including prepayment, extension etc.) over the
expected life of the financial instrument. However,
in rare cases when the expected life of the financial
instrument cannot be estimated reliably, then the
entity is required to use the remaining contractual
term of the financial instrument.

In general, it is presumed that credit risk has
significantly increased since initial recognition if
the payment is more than 30 days past due.

In respect of trade receivables, the Company applies
the simplified approach of Ind AS 109 'Financial
Instruments', which requires measurement of loss
allowance at an amount equal to lifetime expected
credit losses. Lifetime expected credit losses are
the expected credit losses that result from all
possible default events over the expected life of a
financial instrument.

ECL impairment loss allowance (or reversal)
recognized during the year is recognized as
income/expense in the statement of profit and
loss. In standalone balance sheet ECL for financial
assets measured at amortized cost is presented
as an allowance, i.e. as an integral part of the

(b) Rights, Preferences and Restrictions attached to shares:

Equity shares

The Company has only one class of equity shares having a par value of H 10 per share. Each holder of equity shares is
entitled to one vote per share. In the event of liquidation of the Company, holders of equity shares will be entitled to
receive remaining assets of the Company after settlement of all the preferential liabilities. The distribution will be in
proportion to the number of equity shares held by the shareholders.

0.0001% compulsory convertible cumulative preference share (Series B to Series F)

The Company had issued Series B, C, C1, C2, D, D1, D2, E, E1 and F of 0.0001% fully and compulsorily convertible cumulative
preference shares (CCCPS) having a par value of H 100 per share fully paid up.

Each holder of Series B, C, C1, C2, D, D1, D2, E, E1 and F CCCPS were entitled to one vote per share held assuming
conversion of CCCPS in the manner set out in the Shareholder Agreement and Article of Association of the Company and
was eligible to receive cumulative dividend at the rate of 0.0001% on the face value of the share. CCCPS shall be converted
to equity shares in the ratio of one equity share for each CCCPS held at anytime at the option of the holder or before the
expiry of 20 years from the date of issuance of the CCCPS or filing of the prospectus by the Company in connection with
an Initial Public Offer, whichever is earlier.

On 25 April 2024, these 0.0001% compulsory convertible cumulative preference share (Series B to Series F) were converted
into equity shares in the manner as stated in the Shareholder Agreement.

0.0001% Series F1 compulsory convertible cumulative preference share

The Company had issued Series F1 of 0.0001% fully and compulsorily convertible cumulative preference shares (CCCPS)
having a par value of H 10 per share fully paid up.

Each holder of Series F1 CCCPS was entitled to one vote per share held assuming conversion of CCCPS in the manner
set out in the Shareholder Agreement and Article of Association of the Company and were eligible to receive cumulative
dividend at the rate of 0.0001% on the face value of the share. CCCPS shall be converted to equity shares in the ratio
of one equity share for each CCCPS held at anytime at the option of the holder or before the expiry of 20 years from
the date of issuance of the CCCPS or filing of the prospectus by the Company in connection with an Initial Public Offer,
whichever is earlier.

On 25 April 2024, these 0.0001% Series F1 compulsory convertible cumulative preference share were converted into equity
shares in the manner as stated in the Shareholder Agreement.

0.0001% optionally convertible redeemable preference share (Series F)

The Company had only one class of optionally convertible redeemable preference share (OCRPS) having a par value of H 10
per share fully paid up. Each holder of OCRPS was entitled to one vote per share held and were eligible to receive cumulative
dividend at the rate of 0.0001% on the face value of the share. Each holder of OCRPS had the right of redemption along
with redemption premium by cash or it can be convertible into CCCPS which, further, may be converted into equity shares
in the ratio of 1:1 at anytime at the option of the holder. On 25 July 2023, the said shares were converted into CCCPS in the
manner as stated in the Shareholder Agreement.

(f) During the year ended 31 March 2024, the Company has issued 150,000 equity shares of face value H10/- each fully paid
up, for consideration other than cash, in lieu of fund raise bonus given to the promoter of the Company vide board
resolution dated 24 August 2023. Apart from this no shares have been issued pursuant to contract without payment being
received in cash, allotted as fully paid up shares by way of bonus issues nor has any shares been bought back during the
period of 5 years immediately preceeding the reporting date.

(g) The Board of Directors of the Company in their meeting dated 12 October 2022 approved a scheme of selective reduction
of capital held by certain existing shareholders DOIT Urban Ventures (India) Private Limited and RAB Enterprises (India)
Private Limited ("identified shareholders") at an agreed price equivalent to fair value of the shareholding held by them.
Consequently, the Company filed a petition before the National Company Law Tribunal Delhi (NCLT) under Section 66 of the
Companies Act, 2013 read with NCLT (Procedure for Reduction of Share Capital of Company) Rules, 2016 bearing Company
Petition No. 204/ND/2022 for reduction of share capital, wherein the Company proposed a reduction, cancellation and
extinguishment of the issued, subscribed and paid-up share capital comprising of Equity Shares of H 10 each, Compulsorily
Convertible Preference Shares of H 100 each, held by identified shareholders. The Company represented to NCLT that the
capital reduction would be exercised by utilizing the funds being made available by an investor group comprising of QRG
Investments and Holdings Limited, Emerge Capital Opportunity Scheme, VBAP Holdings Private Limited, Karmav Real
Estate Holdings LLP and other individuals ("Incoming investors") and Peak XV Partners Investments V (Formerly known

as SCI Investments V), Bisque Limited & Link Investment Trust (""Existing Investors"") committing to infuse funds only
upon approval of capital reduction from NCLT and resultant cancellation/extinguishment of the shareholding held by
the said identified shareholders in the Company giving effect to the NCLT order. For the above purpose, the identified
shareholders, incoming investors and existing investors operated through escrow accounts and appointed trustees
to act on their behalf. The NCLT vide its order dated 25 May 2023 confirmed the Company's petition for reduction of
aforesaid share capital. Consequently, a sum of H 2,499.99 deposited by the incoming investors and existing investors in
the escrow accounts was transferred by the Trustee to the Company's escrow account towards consideration for issue of
Compulsory Convertible Preference Shares, for which shares were allotted on 04 June 2023. The consideration payable
to the identified shareholders was paid and the shares held by identified shareholders were cancelled and extinguished
on 04 June 2023, pursuant to the directions of NCLT and thus these identified shareholders ceased to be shareholders
effective from 04 June 2023.

(h) Pursuant to the Right to Subscribe Agreement, on 16 August 2023, the Board of Directors of the Company approved and
allotted 251,143 equity shares having a face value of H 10/- per share and premium of H 134.27/- per share on a private
placement basis to Cigam Developers Limited against their loan amount.

(i) Pursuant to the Right to Subscribe Agreement, on 16 August 2023, the Board of Directors of the Company approved and
allotted 693,144 equity shares having a face value of H 10/- per share and premium of H 134.27/- per share on a private
placement basis to Divi's Properties Private Limited against their loan amount.

(j) On 20 September 2023, pursuant to conversion of 346,575 Series F Compulsorily Convertible Cumulative Preference
Shares of H 100/- each to equity shares in the conversion ratio of 1:1, 346,575 equity shares of H 10/- each were issued.
Such equity shares were issued at a price of H 144.27/- per equity share.

(k) On 27 October 2023, the Company allotted 2,620,366 Equity Shares of face value H10/- each for cash, at a price of H 273.10/-
per equity share (including premium of H 263.10/- per share), aggregating to H 715.62 to the existing shareholders on a
"rights'' basis in the ratio of 8 Equity Share for every 49 equity shares held by equity shareholders.

(l) On 25 April 2024, the company has converted the following Compulsorily Convertible Cumulative Preference Shares and

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16 Other equity (Contd..) 1

The employee's stock options reserve is used to recognise the value of equity-settled share-based payments provided
to employees, including key management personnel, as part of their remuneration. Refer note 37 for further details
of these plans.

Equity component of 0.001% compulsorily convertible debenture (Series D, D1 and D2)

0.001% Compulsorily convertible debentures (CCD) has been issued to Bisque Limited at face value of H 10,000 per CCD. Each
CCD shall bear a coupon rate of 0.001%. Each CCD shall be converted into equity shares at any time at the option of the
holder. Each CCD shall automatically convert into equity shares in the ratio of 61.4628 shares for each debenture held, at the
conversion price in effect, upon the earlier of one day before expiry of 10 years from the date of issuance of such CCD or in case
of occurrence of initial public offer (IPO).

On 25 April 2024 these 0.001% compulsorily convertible debenture (Series D, D1 and D2) were converted into equity shares
in the manner as stated in the Shareholder Agreement. Accordingly, the equity component has been transferred to securities
premium or equity share capital as appropriate.

Equity component of unsecured loan

The Company has taken unsecured loan carrying interest rate of 12%. The unsecured loan is repayable as bullet payment on
maturity. As per the loan agreement, lender has a right to subscribe to equity shares or compulsorily convertible preference
shares of the Company for an amount equal to the outstanding amount of loan and accrued interest thereon. Based on the
mutual agreement, the loan agreement was foreclosed, and the Company repaid the loan amount with interest. Pursuant to
the Right to Subscribe Agreement, on 16 August 2023, the Board of Directors of the Company approved and allotted 944,287
equity shares having a face value of H 10/- per share and premium of H 134.27/- per share on a private placement basis. Refer
note 15(h) and 15(i) for details. Accordingly, the equity component has been transferred to retained earnings.

Equity component of 0.0001% compulsory convertible cumulative preference share

For compulsorily convertible cumulative preference shares (Series B to Series F1) (refer note 15 (b)).

On 25 April 2024, these 0.0001% compulsory convertible cumulative preference share (Series B to Series F) were converted into
equity shares in the manner as stated in the Shareholder Agreement. Accordingly, the equity component has been transferred
to securities premium or equity share capital as appropriate.

(a) H 250 obtained from Tata Capital Financial Services Limited drawn on 23 June 2023 carries a floating interest rate based
upon long-term lending rate minus 9.80% i.e. 11.80% and is repayable in 43 equal installments commencing from 20 July
2023 with the last instalment due on 20 April 2027. The interest rate as on 31 March 2025 is 11.10% (31 March 2024: 12%).
The amount outstanding as at 31 March 2025 is H 156.04 (adjusted with processing fee) (31 March 2024: H 218.03), which
has exclusive charge by way of hypothecation of all the moveable fixed assets in the form of fit outs installed at certain
locations which are taken on lease by the Company and present and future cash flows from rental receivables from such
locations along with non-disposal undertaking upto 15% is provided by Director of the Company.

(b) H 5.19 obtained from HDFC Bank Limited drawn on 5 August 2023 carries a fixed interest rate of 8.5% and is repayable in
60 equal installments commencing from 7 September 2023 with the last instalment due on 7 August 2028.The interest rate
as on 31 March 2025 is 8.5% (31 March 2024: 8.5%). The amount outstanding as at 31 March 2025 is H 3.74 (31 March 2024:
H 4.69), which has exclusive charge by way of hypothecation of vehicle.

(c) H 100 obtained from Kotak Mahindra Bank Limited drawn on 20 March 2024 carries a floating interest rate based upon
applicable K-MCLR 6M rate plus 1.05% i.e. 10.25% and is repayable in 48 equal instalments commencing from 20 April 2024
with the last instalment due on 20 March 2028. The interest rate as on 31 March 2025 is 10.45% (31 March 2024: 10.35%).
The amount outstanding as at 31 March 2025 is H 73.98 (adjusted with processing fee) (31 March 2024: H 99.02), which has
pari passu charge on current assets with ICICI Bank (excluding rentals charged to Tata Capital Financial Services Limited
and Kotak Mahindra Bank Limited) for both present and future rentals of the borrower.

(d) The Company had an overdraft facility of Nil (31 March 2024: H 100) from Kotak Mahindra Bank Limited, which was
repayable on demand. This facility carried a floating interest rate based on the applicable K-MCLR 6M rate plus 1.05%. The
interest rate for the year ending 31 March 2025 was 10.45% (31 March 2024: 10.25%). The said facility was withdrawn on
24 March 2025. The outstanding amount as of 31 March 2025 was Nil (31 March 2024: Nil). This facility was secured by a
pari passu charge on the current assets (excluding rentals charged to Tata Capital Financial Services Limited and Kotak
Mahindra Bank Limited) of the borrower, both present and future, shared equally with ICICI Bank.

(e) The Company has an overdraft facility of H 100 from ICICI Bank Limited, which is valid upto 12 months, starting from 03 June
2024. This facility carries a floating interest rate based on the applicable I-MCLR 6M rate plus 1.75%. Currently, the interest rate
is 10.75%. The outstanding amount as of 31 March 2025 is Nil (31 March 2024: Nil). This facility is secured by a pari passu charge
on the current assets of the borrower and exclusive charge over fixed deposits of the Company for 30% of the facility amount.

(f) The Company has an working capital demand loan of H 200 from ICICI Bank Limited, which is valid upto 12 months, starting from 03
June 2024. This facility carries a floating interest rate based on the applicable I-MCLR 3M rate plus 1.50%. Currently, the interest rate
is 10.15%. The outstanding amount as of 31 March 2025 is Nil (31 March 2024: Nil). This facility is secured by a pari passu charge on
the current assets of the borrower and exclusive charge over fixed deposits of the Company for 30% of the facility amount.

(g) The Company has used the borrowings from banks and financial institutions for general corporate purposes/reimbursement
of capital expenditure for which such term loan was taken.

(ii) Corporate Social Responsibility:

Since the Company does not meet the criteria specified in section 135 of the Companies Act, 2013, the Company is not
required to spend any amount on activities related to corporate social responsibility for the year ended 31 March 2025
and 31 March 2024.

30 Exceptional item

Pursuant to approval of the Board of Directors of the Company at their meeting held on 09 September 2024, the Company
has entered into a Business Transfer Agreement ("BTA") with SMS Integrated Facility Services Private Limited ('Acquirer') for
divestiture of its facility management division namely AWFIS Care, as a going concern and on a slump sale basis for cash
consideration of H 275. Further, the cash consideration of H 275 also included a consideration of H 20, being the Holdback
amount which has been recognized upon fulfilment of the terms and conditions as specified in the BTA. The Company has
recognized an exceptional gain amounting to H 251.02 for the year ended 31 March 2025 on account of this BTA.

31 Earnings per share

Basic EPS amounts is calculated by dividing the profit/(loss) for the year attributable to equity shareholders by the weighted
average number of equity shares outstanding during the year including ordinary shares that will be issued upon the conversion
of a mandatorily convertible instrument. Diluted earnings per share is computed using the weighted average number of
common and dilutive common equivalent shares outstanding during the year, except where the result would be anti-dilutive.

32 Related party disclosures (Contd..)

Terms and conditions of transactions with related parties

All transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions.
Outstanding balances at the year end are unsecured and their settlement occurs in cash. The Director of the Company has
given a non-disposal undertaking upto 15% with respect to a borrowings obtained from the lender (refer note 17(a)). For
the year ended 31 March 2025, the Company has not recorded any impairment of receivables relating to amounts owed
by related parties (31 March 2024 : Nil).

33 Contingent liabilities and commitments
(i) Contingent liabilities

The Company has no contingent liability as at 31 March 2025 (31 March 2024 : Nil).

While certain legal proceedings are currently ongoing against the Company, based on a detailed evaluation of the facts
and circumstances of each case, including, where applicable, legal opinions obtained, the management believes that the
ultimate outcome of these proceedings is expected to be favorable to the Company and hence the likelihood of an economic
outflow is remote. Accordingly, these matters do not meet the recognition or disclosure criteria of a contingent liability
under Ind AS 37 and no provision has been considered necessary in the standalone financial statements in this regard.

34 Capital management

For the purpose of the Company's capital management, capital includes issued equity share capital and all other equity reserves
attributable to the equity holders of the Company. The primary objective of the Company when managing capital is to safeguard
its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value.

The capital structure of the Company consists of total equity of the Company.

The Company's management reviews the capital structure of the Company on a regular basis. As part of this review, the
management considers the cost of capital and the risks associated with each class of capital requirements and maintenance of
adequate liquidity. The Company is not subject to externally imposed capital requirements.

The average duration of the defined benefit plan obligation at the end of the reporting year is: Rental and
others: 2.62 years and Facility management: 1.12 years (31 March 2024: Rental and others: 2.04 years and Facility
management: 1.33 years).

(vii) Risk exposure:

Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of which are
detailed below:

Interest Risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result
in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value
of the liability.

Liquidity Risk: This is the risk that the Company is not able to meet the short-term gratuity payouts. This may
arise due to non availability of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not
being sold in time.

Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of salary increase
rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate
of increase in salary used to determine the present value of obligation will have a bearing on the plan's liability.

37 Employees' stock option plan

The Company has two ESOP Schemes namely "Awfis Space Solutions Employee Stock Option Scheme - 2024 ("Scheme")" and
"Awfis Employees' Stock Option Scheme 2015 ('EDSOP 2015')".

The Nomination and Remuneration committee ("Committee") of the Company formulated and approved "Awfis Space Solutions
Employee Stock Option Scheme - 2024 ("Scheme") at its meeting held on 11 November 2024 which is also approved by the board
of director of the Company at its meeting held on 11 November 2024. Under this scheme, the maximum number of options that
can be granted to any eligible employee during one year shall not be equal to or exceed 1% of the issued equity share capital
of the Company at the time of grant. The committee decide to grant such number of options equal to or exceeding 1% of the
issued equity share capital to any eligible employee as the case may be, subject to the separate approval of the shareholders
in a general meeting. The maximum number of options that may be granted in one or more tranches, pursuant to this scheme
shall not exceed twenty two lakhs options which shall be convertible into equal number of shares not exceeding twenty two
lakhs equity shares having face value of H 10 each.

The shareholders of the Company approved "Awfis Employees' Stock Option Scheme 2015 ('EDSOP 2015')" at the Extraordinary
General Meeting held on 15 June 2015 to grant a maximum of not exceeding 5% of the equity share capital of the Company to
specified categories of employees of the Company. Each option granted and vested under EDSOP 2015 shall entitle the holder
to acquire one equity share of face value of H 10 each of the Company.

The fair value of the share options is estimated at the grant date using the Black- Scholes option pricing model, taking into
account the terms and conditions upon which the share options were granted. However, the above performance condition is
only considered in determining the number of instruments that will ultimately vest.

41 Segment information has been provided under the notes forming part of the consolidated financial statements for the
year ended 31 March 2025 as per para 4 of Indian Accounting Standard (Ind AS) 108 "Operating Segments", specified
under Section 133 of the Companies Act, 2013.

42 During the year ended 31 March 2025, the Company completed its Initial Public Offer (IPO) where 15,639,638 equity
shares of face value of H 10 each have been issued at a price of H 383 per share. The issue comprised of 21.38% fresh issue
aggregating to H 1,280.00 and 78.62% offer for sale aggregating to H 4,709.30. Pursuant to IPO, the equity shares of the
Company were listed on BSE Limited and National Stock Exchange of India Limited on 30 May 2024. The Company is still
in the process of finalization of offer expenses.

The utilization of the IPO proceeds from fresh issue of H 1,170.29 (net of offer expenses of H 109.71 in relation to fresh issue
of shares) is summarized below:

43 The Code on Social Security 2020 (Code), which received the Presidential Assent on 28 September 2020, subsumes nine laws
relating to social security, retirement and employee benefits, including the Employee Provident Fund and Miscellaneous
Provisions Act, 1952 and the Payment of Gratuity Act, 1972. On 03 May 2023, the Ministry of Labour and Employment issued
notifications in compliance of judgement dated 04 November 2022 of Hon'ble Supreme Court in the case pertaining to
Pension on Higher Wages. The Company has not identified any material impact in lieu of such notifications and therefore
not recorded any impact thereon.

44 "The Ministry of Corporate Affairs (MCA) has prescribed a requirement for companies under the proviso to Rule 3(1) of the
Companies (Accounts) Rules, 2014 inserted by the Companies (Accounts) Amendment Rules 2021 requiring companies,
which uses accounting software for maintaining its books of account, shall use only such accounting software which has
a feature of recording audit trail of each and every transaction, creating an edit log of each change made in the books of
account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.

The Company, in respect of financial year commencing on 1 April 2024, have used accounting software for maintaining its
books of account which have a feature of recording audit trail (edit log) facility. Furthermore, the Company has preserved
the audit trail as per the statutory requirements for record retention.

45 Subsequent to the year ended 31 March 2025, India Ratings & Research (a Fitch Group Company), through its Rating
Action Commentary dated 16 May 2025, has upgraded the credit rating assigned to our bank loan facilities. The revised
rating now stands at "IND A " with a Stable Outlook, an improvement from the earlier rating of "IND A". This reflects
the improved credit profile of the Company and underscores the rating agency's confidence in our financial stability,
operational performance, and future growth prospects.

46 Other statutory information

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company
for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(ii) The Company has identified transactions with the below companies which have been struck off under section 248 of
Companies Act, 2013:

46 Other statutory information (Contd..)

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(vi) The Company has not received any funds or further advances in form of any fund from any person(s) or entity(ies),
including guarantee to the Ultimate beneficiaries, with the understanding that the ultimate beneficiaries shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(vii) The Company does not have any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the current and preceding year in the tax assessments under the Income
Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

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

(ix) The Company has not been declared wilful defaulter by any bank or financial institutions or other lenders.

(x) The Company has filed all the required quarterly returns with the lenders as per covenants of the working capital
sanction letter which are in agreement with the books of accounts and there are no material discrepancies in the same.

47 Subsequent to the year ended March 2025, the cheque issued by one of the customer towards the payment of the lease
rentals was returned unpaid and the management has taken appropriate steps under the Negotiable Instruments Act,
1881. Due to the above circumstances, the management has derecognized the lease receivables amounting to Rs. 188.66
million on a prudent basis, as there is uncertainty with respect to ultimate collection of such receivables.

48 Previous year figures have been regrouped/reclassified, wherever necessary to confirm to this year classification. Such
regrouping/reclassification are not material to the standalone financial statements.

The accompanying notes form an integral part of these standalone financial statements
As per our report of even date attached

For Walker Chandiok & Co LLP For and on behalf of the Board of Directors of

Chartered Accountants Awfis Space Solutions Limited

ICAI firm registration no.: 001076N/N500013

Nitin Toshniwal Amit Ramani Rajesh Kharabanda

Partner Chairman and Managing Director Director

Membership no. 507568 DIN: 00549918 DIN: 01495928

Place: New Delhi Amit Kumar Ravi Dugar

Date: 26 May 2025 Company Secretary Chief Financial Officer

Membership no. A31237