HO 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E) Mumbai 400063, INDIA Tel: +91 22 6238 0519 To, Board of Directors Pranav Constructions Limited (Formerly known as Pranav Constructions Private Limited) Unit No -1001, 10th floor, DLH Park, Near MTNL, S. V. Road, Goregaon (West), Mumbai – 400 062 Independent Auditor’s Certificate on Statement of Accounts on Project Fund deposit, utilization and withdrawal by Pranav Constructions Limited (‘the Company’) (Formerly known as Pranav Constructions Private Limited) with respect to Maharashtra Real Estate Regulatory Authority (the ‘MahaRERA’) Number P51800053810 1. We have been requested by the Company having its registered office at the above mentioned address vide mandate letter dated September 25, 2024 to issue a certificate on the accompanying statement of accounts on project fund deposit, utilization and withdrawal by the Company with respect to MahaRERA project Shining Star CHSL vide MahaRERA Number P51800053810 (‘the Statement’), as required under provisions of the Real Estate (Regulation and Development) Act, 2016 (the ‘RERA’) read along 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 (Rules). This letter has to be read in conjunction with the certificate on October 30, 2024, issued by us on even date where in the UDIN mentioned is 24118894BKGQKQ1846. The accompanying Statement of the Company as on March 31, 2024, is prepared by the Management, for the purpose of submission to MahaRERA in accordance with requirements of terms and conditions contained in RERA which we have initialed for identification purposes only. 2. Management’s Responsibility for the Statement The preparation of the Statement is the responsibility of the management of the Company including the preparation and maintenance of all accounting and other relevant supporting records and documents. This responsibility includes designing, implementing and maintaining 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. The Management is responsible for ensuring that the Company complies with the requirements of RERA and its rules and provides all relevant information. 3. Auditor’s Responsibility Pursuant to the requirements of the RERA, our responsibility is to obtain reasonable assurance and verify that the particulars of the Statement are in agreement with the accounting and other relevant records of the Company. Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, INDIA, Tel: +91 22 6238 0519 Ahmedabad | Bengaluru | Chennai | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Mumbai | Pune www.mska.in We have performed the following procedures to issue a certificate on the particulars included in the Statement: a) In Table A of Form-5, on test check basis, traced the total collection received from the customers/allottees of the project for the period starting from December 01, 2023, till March 31, 2024, to the accounting and other relevant records of the Company. b) Verified that the total amount collected from allottees and Total amount deposited in the designated bank account at Sr.no.1 & Sr.no.4 of Table A and Total deposits and Total amount withdrawn at Sr.no.2 & Sr.no.3 of Table B as per workings prepared by the Company excludes collection from customers deposited in the designated RERA Bank Account which was otherwise not required to be deposited, collection for pass through charges and indirect taxes and amount received from allottees whose allotment has been cancelled. c) Verified that the Total amount deposited in Designated Bank Account as per Table A is in agreement with Total Deposits as per Table B. d) Verified the arithmetic accuracy of amounts reported in Table A and Table B of Form 5. e) Verified that all amounts withdrawn during the year from RERA Bank Account were within the withdrawal limit as certified under Form 3 issued during the year. f) For the purpose of determining Utilization as per Table C, verified the actual cost incurred towards the progress of the project and compared with the seventy percent of the collections received from the customers for the project from December 01, 2023, to March 31, 2024. Where the total cost exceeds seventy percent of the collections received from the customers for the project till March 31, 2024, it is accepted that the Company has utilized the money collected from customers only for that project. g) For Table B, opening bank balance as on December 01, 2023, and the closing bank balance as on March 31, 2024, have been traced with the respective bank statements. We have audited the financial statements of the Company as of and for the financial year ended March 31, 2024, on which we issued an unmodified audit opinion vide our report dated August 05, 2024. Our audit of the financial statements was conducted in accordance with the Standards on Auditing and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Our audits were not planned and performed in connection with any transactions to identify matters that may be of potential interest to third parties. We conducted our examination of the Statement in accordance with the ‘Guidance Note on Reports or Certificates for Special Purposes’ issued by ICAI. The Guidance note requires that we comply with the ethical requirements of the Code of Ethics issued by ICAI. 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. Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, INDIA, Tel: +91 22 6238 0519 Ahmedabad | Bengaluru | Chennai | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Mumbai | Pune www.mska.in 4. Restriction on Use The certificate is addressed to and provided to the management of the Company solely for the purpose of enabling compliance with the requirements of RERA and its rules. It should not be used by any other person or for any other purpose. M S K A & Associates shall not be liable to the Company or to any other concerned about any claims, liabilities or expenses relating to this assignment. 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 M S K A & Associates Chartered Accountants ICAI Firm Registration No. 105047W Digitally signed by Tiwari Nitin Tiwari Nitin Suryamani Suryamani Date: 2024.10.30 18:09:29 +05'30' Nitin Tiwari Partner Membership No.: 118894 UDIN: 24118894BKGQKQ1846 Place: Mumbai Date: October 30, 2024 Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, INDIA, Tel: +91 22 6238 0519 Ahmedabad | Bengaluru | Chennai | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Mumbai | Pune www.mska.in HO 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E) Mumbai 400063, INDIA Tel: +91 22 6238 0519 FORM - 5 ANNUAL REPORT ON STATEMENT OF ACCOUNTS CHARTERED ACCOUNTANTS CERTIFICATE To, Board of Directors Pranav Constructions Limited (Formerly known as Pranav Constructions Private Limited) Unit No -1001, 10th floor, DLH Park, Near MTNL, S. V. Road, Goregaon (West), Mumbai – 400 062 Subject: Report on Statement of Accounts on project fund deposit, utilization and withdrawal by Pranav Constructions Limited (Formerly known as Pranav Constructions Private Limited) for the period from December 01, 2023 to March 31, 2024 with respect to MahaRERA Registration Number P51800053810. This certificate is issued in accordance with the provisions of the Real Estate (Regulation and Development) Act, 2016 read along 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. We have obtained all necessary information and explanations from Pranav Constructions Limited (Formerly known as Pranav Construction Private Limited), during the course of our audit, which in our opinion is necessary for the purpose of this certificate. We hereby confirm that we have examined the prescribed registers, books and documents, and the relevant records of Pranav Constructions Limited (Formerly known as Pranav Constructions Private Limited) for the period ended March 31, 2024, and hereby certify that: A. Deposits: Serial Particulars For this Fiscal Year Total for this project till date No (INR in crores) (INR in crores) 1. Total amount collected from allottees 35.60 35.60 2. % of amount to be deposited as per act 70% 70% 3. Amount to be deposited as per act 24.92 24.92 (1*2) 4. Total amount deposited in Designated 24.92 24.92 Bank account 5. % of Amount deposited in Designated 70% 70% bank account [(4)/(1)*100] 6. Shortfall/ Excess deposit (3-4) 0.00 0.00 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 / No) If No. Please mention the amount not deposited Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, INDIA, Tel: +91 22 6238 0519 Ahmedabad | Bengaluru | Chennai | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Mumbai | Pune www.mska.in B. Withdrawals Serial Particulars For this Fiscal Year Total for this project till date no (INR in crores) (INR in crores) 1. Opening Balance of 0.00 0.00 Designated Bank Account 2 Total Deposits 24.92 24.92 3. Total amount withdrawn 16.20 16.20 4. Closing Balance* 8.72 8.72 *Includes impact of cheque deposited by company but not yet cleared as at March 31, 2024 amounting to Rs. 8.72 crores. 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 / No) If No, Please provide the below details:- Sr No Date of withdrawal Amount of Excess Withdrawals 1 C. Utilisation We certify that Pranav Constructions Limited (Formerly known as Pranav Constructions Private Limited) has utilized the amounts withdrawn from designated bank account towards project cost only, as specified in the act. If No, please provide the below details: Sr.No Date Amount not utilized for Project Cost D. Any Qualifications / Observations of CA 1. “The Total amount collected from allottees” & “Total amount deposited in the designated bank account’ at Sr.no.1 & Sr.no.4 of Table A and “Total deposits” & “Total amount withdrawn” at Sr.no.2 & Sr.no.3 of Table B excludes collection from customers deposited in the designated RERA Bank Account which was otherwise not required to be deposited, collection for pass through charges and indirect taxes and amount received from allottees whose allotment has been cancelled”. 2. For the purpose of determining Utilization as per Table C, Project cost includes inter alia, contractual advances paid to contractors/vendors towards mobilization of resources, cost incurred on acquisition of property, plant and equipment, stamp duty & registration charges paid by the Company on sale of units and provision of cost towards purchase of Floor space index (FSI)/Transferable development rights which has been identified by the management and relied upon by us. Further, we have compared the project cost incurred with seventy percent of the collections received from the customers for the project from December 01, 2023 to March 31, 2024. Where the project cost exceeds the seventy percent of the collections received from the customers for the project till March 31, 2024, it is accepted that the Company has utilized the money collected from customers only for that project. Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, INDIA, Tel: +91 22 6238 0519 Ahmedabad | Bengaluru | Chennai | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Mumbai | Pune www.mska.in 3. Kotak Bank Account No. 8247762910 which was submitted to the RERA authorities at the time on Initial RERA registration and subsequent opening of New RERA Account in HDFC Bank having Account No – 57500001380532 from December 01, 2023, has been considered as a designated bank account. 4. Amount received on the basis of allotment letters, if any from entity in which the promoters are having substantial interest or amount received prior to RERA registration, if any, has not been considered for the purpose of working for issuance of FORM 5. 5. Amount received from an allotee for a project of entity (other than the project under present certification) and now allocated to unit in project under certification, if any, has not been considered for the purpose of working for issuance of FORM 5. Agreed and accepted by: Signature of Authorized signatory For Pranav Constructions Limited For M S K A & Associates (Formerly known as Pranav Constructions Private ICAI Firm’s Registration no.: 105047W Limited) Digitally signed PRANAV Digitally signed by PRANAV KIRAN Tiwari by Tiwari Nitin KIRAN ASHAR Nitin Suryamani Date: 2024.10.30 Date: 2024.10.30 ASHAR 18:25:08 +05'30' Suryamani 18:11:52 +05'30' Pranav Kiran Ashar Nitin Tiwari Managing Director Partner DIN: 06800729 Membership Number: 118894 UDIN: 24118894BKGQKQ1846 Date: October 30, 2024 Place: Mumbai Note: To be read with our enclosed letter on statement issued by M S K A & Associates of even date Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, INDIA, Tel: +91 22 6238 0519 Ahmedabad | Bengaluru | Chennai | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Mumbai | Pune www.mska.in