Form 5 [see Regulation 4] ANNUAL REPORT ON STATEMENT OF ACCOUNTS Date : September 30, 2023 To, L&T Avenue Realty LLP (formerly known as L&T Asian Realty Project LLP) L&T House, Ballard Estate, Mumbai - 400001 Subject: Report on Statement of Accounts on project fund deposit, utilisation and withdrawal by L&T Avenue Realty LLP for the period from April 01, 2022 to March 31, 2023 with respect to MahaRERA Regn Number P51800023075. 1. This certificate is issued in accordance with the provisions of the Real Estate (Regulation and Development) Act, 2016 (‘the Act’) read along with the Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rate of Interest and Disclosures on Website) Rules, 2017. 2. We have obtained all necessary information and explanation from the Promoter, during the course of our audit, which in our opinion are necessary for the purpose of this certificate. 3. We hereby confirm that we have examined the prescribed registers, books and documents, and the relevant records of L&T Avenue Realty LLP for the period April 01, 2022 to March 31, 2023 and hereby certify that: A. Deposits: For this fiscal year Total for this Project till date 1. Total amount collected from allottees 670,469,869 1,356,803,212 2. % of amount to be deposited as per Act 70% 70% 3. Amount to be deposited as per act (1*2) 469,328,908 949,762,248 4. Total amount deposited in the 492,835,185 997,236,699 Designated Bank Account 5. % of amount deposited in Designated 73.51% 73.50% Bank Account [(4)/(1)*100] 6. Shortfall/(excess) deposits (3-4) (23,506,277) (47,474,450) Amount collected/deposited at Sr. No. 1 & 2, shall not include pass through charges and indirect taxes. Has the required proportion of money collected from allottees of the project units, as specified in the Act, deposited in the Designated RERA Bank Account? : Yes B. Withdrawals For this fiscal year Total for this Project till date 1. Opening balance of Designated - - Bank Account 2. Total deposits 492,835,185.00 997,236,699.00 3. Total amount withdrawn 479,322,067.73 983,723,581.74 4. Closing balance 13,513,117.00 13,513,117.00 As specified in the Act, all the amounts withdrawn during the year from RERA Bank Account were within the withdrawal limit as certified under the relevant Form 1, Form 2 and Form 3 issued during the reporting period? - Yes C. Utilisation We certify that L&T Avenue Realty LLP has utilized the amounts withdrawn from designated bank account towards project cost only, as specified in the Act. Any Qualifications / Observations of CA Srno Particular 1 None Note: 1. Refer explanatory notes enclosed in Annexure I; and 2. The Project is a Joint Venture project between L&T Avenue Realty LLP and Nirmal Lifestyle Developers Pvt. Ltd having revenue sharing of 62.80:37.20 respectively. Accordingly, amount collected and withdrawn disclosed is equal to L&T Asian Realty Project LLP’s share of revenue i. e. 62.80%. 3. Further, amount collected as reported in the certificate is 70% of total collection i.e. after removing 30% which are not restricted cash under MahaRERA. For Sharp & Tannan Agreed and Accepted by: Chartered Accountants L&T Avenue Realty LLP Firm registration. no.: 109982W FIRDOSH Digitally signed by SANTOS Digitally signed by SANTOSH DARA FIRDOSH DARA BUCHIA KUMAR AGARWAL DN: c=IN, o=LARSEN AND TOUBRO Date: 2023.09.30 H KUMAR LIMITED, ou=HO, 2.5.4.20=b357851875a71c4b6489f BUCHIA 21:10:45 +05'30' b385b167c76ce130f5d18d4a9d78e cff4438acfffa1, AGARWA postalCode=110019, st=Delhi, serialNumber=092ed14f0d208acb3 684e8c1b51bd23249cc7e205ec614 Firdosh D. Buchia 3f1aa0fa76174c7ff3, cn=SANTOSH L KUMAR AGARWAL Date: 2023.09.30 20:30:10 +05'30' Partner ICAI membership no.: 038332 Date : September 30, 2023 UDIN: 23038332BGSNEL2459 Place : Mumbai Date : September 30, 2023 Annexure I Explanatory notes to the annual report on statement of accounts on project fund utilization and withdrawal by L&T Avenue Realty LLP for the period from 1 April 2021 to 31 March 2022 (‘the Year’) with respect to MahaRERA registration number P51800023075 (‘the Project’). 1. This annual report is issued in accordance with instructions received from management of L&T Avenue Realty Project LLP (‘the LLP’) (formerly L&T Asian Realty LLP). Management’s responsibility for the annual report on Statement of Accounts 2. The maintenance of all accounting and other relevant supporting records and documents in relation to the Annual report is the responsibility of management of the LLP. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the Statement and applying an appropriate basis of preparation and making estimates that are reasonable in the circumstances. Independent auditor’s responsibility for the annual report on Statement of Accounts 3. We have conducted our examination of the Statement in accordance with the Guidance Note on Reports or Certificates for Special Purposes issued by the Institute of Chartered Accountants of India. This Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India. 4. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements. Restriction on use 5 The annual report is addressed to and provided to the partners of the LLP solely for the purpose to enable compliance with the requirement of the Real Estate (Regulation and Development) Act, 2016 read with the Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosures on Website) Rules, 2017 and to submit to the Maharashtra Real Estate Regulatory Authority, and should not be used by any other person or for any other purpose. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this Annual report is shown or into whose hands it may come without our prior consent in writing.