To Walker Chandiok & Co LLP Board of Directors 11th Floor, Tower II, Satguru Corporate Services Private Limited One International Center, 5th Floor, Sunteck Centre S B Marg, Prabhadevi (W), 37-40, Subhash Road Mumbai - 400013 Maharashtra, India Vile Parle (East) Mumbai – 400 057 T +91 22 6626 2699 F +91 22 6626 2601 Independent Auditor’s Report on Statement of Accounts under Form 5 on project fund utilization and withdrawal by Satguru Corporate Services Private Limited for the period from 1 April 2020 to 31 March 2021 (‘the period’) with respect to MahaRERA Registration number P51800023072 1. This report is issued in accordance with the terms of engagement letter dated 15 September 2021 with Satguru Corporate Services Private Limited (“the Company”). 2. The accompanying Statement of Project 4th Avenue Sunteck City (MahaRERA Registration number P51800023072) (‘the project”), which comprises the details of fund collection, withdrawal and utilisation by the Company for the period 1 April 2020 to 31 March 2021 (‘the Statement'), has been prepared by the Company's management in accordance with the third proviso to section 4 (2) (l) of Real Estate (Regulation and Development) Act, 2016 (RERA) read with the Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosure on Website) Rules, 2017 (‘MahaRERA Rules’), for the purpose of submitting with Maharashtra Real Estate Regulatory Authority (MahaRERA authorities). We have attached the Statement for identification purpose only. Management’s responsibility for the Statement 3. The preparation of the Statement, including the preparation and maintenance of all accounting and other relevant supporting records and documents, is solely the responsibility of the Management of the Company. 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. 4. The Management is also responsible for ensuring that the Company complies with the requirements set out in the MahaRERA Rules and provides all relevant information to MahaRERA authorities. Auditor’s Responsibility 5. Pursuant to the requirements of MahaRERA Rules, read together with the clarification on Chartered Accountant certificates circular No.7/2017 dated 4 July 2017 issued by the MahaRERA authorities, it is our responsibility to provide a reasonable assurance in the form of an opinion as to whether the Statement of the project giving the following details of fund collection, withdrawal and utilisation for the period 1 April 2020 to 31 March 2021, has been prepared in accordance with the audited financial statements, underlying books of account and other relevant records and documents maintained by the Company for the year ended 31 March 2021, with respect to: a. Percentage of Completion of the project titled 4th Avenue Sunteck City with MahaRERA Registration number P51800023072 located at ODC, Goregaon West; b. Amount collected during the period for this project and total amount collected till date in specified/designated bank account; Page 1 of 3 Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India Satguru Corporate Services Private Limited Independent Auditor’s Report on Statement of Accounts under Form 5 on project fund utilization and withdrawal by Satguru Corporate Services Private Limited for the period from 1 April 2020 to 31 March 2021 (‘the period’) with respect to MahaRERA Registration number P51800023072 c. Amount withdrawn during the period for this project and total amount withdrawn till date from specified/designated bank account; and d. The Company has utilized the amount collected for 4th Avenue Sunteck City with MahaRERA Registration number P51800023072 only for that project and the withdrawal from the designated separate bank account of the said project has been in accordance with the proportion to the percentage of completion of the project as mentioned under Section 4 (2)(l)(D) of the RERA. 6. The audited financial statements referred to in paragraph 5 above, have been audited by us, on which we issued an unmodified audit opinion vide our report dated 29 June 2021. Our audit of these financial statements were conducted in accordance with the Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India (the "ICAI"). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Such audits were not planned and performed in connection with any transactions to identify matters that may be of potential interest to third parties. 7. We conducted our examination on a test check basis, in accordance with the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) (the 'Guidance Note') issued by the ICAI. The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI. 8. 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 issued by the ICAI. Opinion 9. Based on our examination as above, evidences obtained, and the information and explanations given to us, along with representations provided by the Management, we are of the opinion that the Statement of the project giving the following details of fund collection, withdrawal and utilisation for the period, has been prepared in accordance with the audited financial statements, underlying books of account and other relevant records and documents maintained by the Company for the year ended 31 March 2021, with respect to: a. Percentage of Completion of the project titled 4th Avenue Sunteck City with MahaRERA Registration number P51800023072 located at ODC, Goregoan West is 47.19% (see Annexure 1 as part of Management Statement); b. Amount collected during the period for this project is ₹ 3,331.07 lakhs and total amount collected till 31 March 2021 is ₹ 4,921.73 lakhs in specified/designated bank account; c. Amount withdrawn during the period for this project is ₹ 3,331.07 lakhs and total amount withdrawn till 31 March 2021 is ₹ 4,921.73 lakhs from specified/designated bank account; and d. The Company has utilized the amount collected for 4th Avenue Sunteck City with MahaRERA Registration number P51800023072 only for that project and the withdrawal from the designated separate bank account of the said project has been in accordance with the proportion to the percentage of completion of the project as mentioned under Section 4 (2)(l)(D) of the RERA. Page 2 of 3 Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India Satguru Corporate Services Private Limited Independent Auditor’s Report on Statement of Accounts under Form 5 on project fund utilization and withdrawal by Satguru Corporate Services Private Limited for the period from 1 April 2020 to 31 March 2021 (‘the period’) with respect to MahaRERA Registration number P51800023072 Restriction on Distribution or Use 10. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the RERA and MahaRERA Rules. Our obligations in respect of this report are entirely separate from, and our responsibility and liability is in no way changed by, any other role we may have had as auditors of the Company or otherwise. Nothing in this certificate, nor anything said or done in the course of or in connection with the services that are the subject of this certificate, will extend any duty of care we may have in our capacity as auditors of the Company. 11. The report is addressed to and provided to the Board of Directors of the Company solely for the purpose of enabling it to comply with the requirements of MahaRERA Rules, which inter alia, requires it to submit the Statement with the MahaRERA authorities, and should not be used, referred to or distributed for any other purpose or to any other party without our prior written consent. 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 certificate is shown or into whose hands it may come without our prior consent in writing. For Walker Chandiok & Co LLP Chartered Accountants Firm’s Registration No:001076N/N500013 RAKESH Digitally signed by RAKESH RAMAWATAR RAMAWATAR AGARWAL Date: 2021.09.30 AGARWAL 22:01:09 +05'30' Rakesh R. Agarwal Partner Membership No:109632 UDIN:21109632AAAAPD8357 Place: Mumbai Date: 30 September 2021 Page 3 of 3 Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India