HO MS KA & Associates 602, Ftoor 6, Raheja Titanium Western Express Highway, Geetanjati Raitway Cotony, Ram Nagar, Goregaon (E) Chartered Accountants Mumbai 400063, INDIA Tet: +91 2262384519 To, Board of Directors Pranav Constructions Limited (Formerly known as Pranav Constructions Private Limited) Unit No -1001, 1Oth ftoor, DLH Park, Near MTNL, S. V. Road, Goregaon (West), Mumbai - 400 062 lndependent 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 P5 1 800053827 1 We have been requested by the Company having its registered office at the above mentioned address vide mandate tetter dated September 25, 2024 to issue a certificate on the accompanyrng statement of accounts on project fund deposit, utitization and withdrawat by the Company with respect to MahaRERA project Samrat CHSL vide MahaRERA Number P51800053827 ('the Statement'), as required under provisions of the Reat Estate (Regutation and Development) Act, 2016 (the 'RERA') read along with the Maharashtra Real Estate (Regutation and Devetopment) (Registration of Reat Estate Projects, Registration of Reat Estate Agents, Rates of lnterest and Disctosures on Website) Rules, 2017 (Rutes). This tetter has to be read in conjunction with the certificate on October 22, 2024, issued by us on even date where in the UDIN mentioned is 241188948KGQKF9703. The accompanying Statement of the Company as on March 31, 2074, 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 initiated for identification purposes onty. 2. Management's Responsibility for the Statement The preparation of the Statement is the responsibitity of the management of the Company inctuding the preparation and maintenance of alt accounting and other relevant supporting records and documents. This responsibitity inctudes designing, imptementing and maintaining internal control relevant to the preparation and presentation of the Statement, and apptying an appropriate basis of preparation; and making estimates that are reasonable in the circumstances. The Management is responsibte for ensuring that the Company complies with the requirements of RERA and its rutes and provides all retevant information. 3. Auditor's Responsibility Pursuant to the requirements of the RERA, our responsibitity is to obtain reasonabte assurance and verify that the particulars of the Statement are in agreement with the accounting and other relevant records of the Company. B ,\ sa TJSY rfl o, I t, Head Offtce: 6m, Roor 6, Raheia Titanium, Western &PIe5s Highway, Geetanjatl Railway Colony, Ram Nagar, Goregaon (E), ltumbai 400063, lNDlA, Tel: +91 22 6238 0519 ahmedabad litengat'rru I thennai lcoa I Gurugram-l xyderaUa I Kochi I xotkata I llumbai I Pune www'mska'in MS KA & Associates Chartered Accountants We have performed the fottowing procedures to issue a certificate on the particutars inctuded in the Statement: a) ln Tabte A of Form-S, on test check basis, traced the total cotlection received from the customers/attottees of the project for the period starting from December 01,2023, titl March 31, 2024, to the accounting and other retevant records of the Company. b) Verified that the total amount cotlected from atlottees and Totat amount deposited in the designated bank account at Sr.no.1 & Sr.no.4 of Tabte A and Total deposits and Total amount withdrawn at Sr.no.2 & Sr.no.3 of Tabte B as per workings prepared by the Company exctudes coltection from customers deposited in the designated RERA Bank Account which was otherwise not required to be deposited, cottection for pass through charges and indirect taxes and amount received from attottees whose atlotment has been cancetted. c) Verified that the Total amount deposited in Designated Bank Account as per Tabte A is in agreement with Total Deposits as per Tabte B. d) Verified the arithmetic accuracy of amounts reported in Tabte A and Table B of Form 5. e) Verified that att amounts withdrawn during the year from RERA Bank Account were within the withdrawal timit as certified under Form 3 issued during the year. f) For the purpose of determining Utitization as per Tabte C, verified the actual cost incurred towards the progress of the project and compared with the seventy percent of the coltections 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 titl March 31, 2024, it is accepted that the Company has utilized the money collected from customers onty for that project. g) For Tabte B, opening bank balance as on December 01, 2023, and the closing bank batance 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 financiat 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 appticabte authoritative pronouncements issued by the lnstitute of Chartered Accountants of lndia. Those Standards require that we ptan 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 lCAl. The Guidance note requires that we compty with the ethical requirements of the Code of Ethics issued by lCAl. We have comptied with the retevant applicabte requirements of the Standard on Quatity Control (SQC) 1, Quatity Controt for Firms that Perform Audits and Reviews of Historical pS Financial lnformation, and Other Assurance and Related Services Engagements. tt rtl $tr .,1, i.4 t ,t 602, Ftoor 6, Ftaheia Titanium, Western Express Highway, Geetanjali RaJtway Cotony, Ram Nagar, Goregaon (E), itumbai,O0063, lNDlA, Tet: +91 22 6238 0519 Ahmedabad lBengaturulchenrEilcoalcurugramlHyderabadl!fuchilKolkatalftimbailPunewww.mska.in MS KA & Associates Chartered Accountants 4. Restriction on Use The certificate is addressed to and provided to the management of the Company sotety for the purpose of enabting comptiance with the requirements of RERA and its rutes. lt shoutd not be used by any other person or for any other purpose. M S K A & Associates sha[[ not be tiabte to the Company or to any other concerned about any claims, liabitities or expenses retating to this assignment. Accordingty, we do not accept or assume any tiabitity 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. ForMS KA&Associates Chartered Accountants lCAl Firm Registration No. 1 05047VV $..r& Nitin Tiwari Partner Membership No.: 1 18894 UD lN : 241 1 8894BKGQKF9703 Ptace: Mumbai Date: October 22, 2024 Head Office: 502, Ftoor 6, Raheja Titanium, Western Express Highway, G€etaniali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, lNDlA, Tett +91 ZZ 6238 0519 Ahmedabad l Eengluru l Chennai l Goa l Gurugram l Hyderabad l (ochi Kolkata l4umbai l l l Pune www mska.in HO MS KA & Associates 502, floor 6, Raheja Titanium Westem Express Highway, Geetanjati Railway Cotony, Ram Nagar, Goregaon (E) Chartered Accountants Mumbai 400063, INDIA Tet: +91 22 6238 0519 FOR,I-5 ANNUAL REPORT ON STATEMENT OF ACCOUNTS CHARTERED ACCOUNTANTS CERTIFICATE To, Board of Directors Pranav Constructions Limited (Formerly known as Pranav Constructions PriYate Llmited) Unit No -1001, 1Oth ftoor, DLH Park, Near iiTNL, S. V. Road, Goregaon (West), Mumbai - 400 062 Subject: Report on Statement of Accounts on project fund deposit, utitization and withdrawal by Pranav Constructions Limited (Formerty known as Pranav Constructions Private Limited) for the period from December 01,?.023 to March 31, 2024 with respect to l,tahaRERA Registration Number P51800053827. This certificate is issued in accordance with the provisions of the Rea[ Estate (Regutation and Devetopment) Act, 2016 read atong with the Maharashtra Rea[ Estate (Regutation and Deve[opment) (Registration of Rea[ Estate Projects, Registration of Rea[ Estate Agents, Rates of lnterest and Disclosures on Website) Rutes, 2017. We have obtained att 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 retevant records of Pranav Constructions Limited (Formerty 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 (lNR in crores) (lNR in crores) 1 Total amount cottected from attottees 3.00 3.00 2 % of amount to be deposited as per act 70% 70% 3 Amount to be deposited as per act 2.10 2.10 (1'2) 4. TotaI amount deposited in Designated 2.10 2.10 Bank account 5 % of Amount deposited in Designated 70v" 70v" bank account t(4)/(1 f 1001 6 Shortfatt/ Excess deposit (3-4) 0.00 0.00 Amount collected/deposited at Sr. No. 1 & 2, shatt 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 / Ne) Head Office: 6m, Floor 6, Raheja Titanjum, Western Erpress Highway, Geetanrati Raitway CoLony, Ram Nagar, Goregaon (E), Mumbai 400063, lNDlA, Tet: +91 22 5238 0519 Ahmedabad I Bengaluru I Chennai lGoa I Gurugram I Hyderabad I Kochi I Kotkata I llumbai I Pune wrw.mska.in MS KA & Associates Chartered Accountants B. Withdrawals Serial Particulars For this Fiscal Year Total for this project till date no (lNR in crores) (lNR in crores) '1 Opening Batance of 0.00 0.00 Designated Bank Account 7 TotaI Deposits 2.10 ?.10 3 Totat amount withdrawn 0.00 0.00 4. Ctosing Batance 7.10 2.10 As specified in the Act, atl 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 / Ne) 5+-N€ Dat€-€f-udtidrarva{ Am€un+-ef+x€ess+litM+a+rak 1 C. Utilisation We certify that Pranav Constructions Llmited (Formerty known as Pranav Constructions Private Limited) has not withdrawn the amount from designated bank account towards proiect cost during the period December 01, 2023 to t arch 31,2024. SI'|le Date D, Any Qg.lifi€atiees / Observations of CA 1 "The Total amount cotlected from allottees" & 'Totat amount deposited in the designated bank account' at Sr.no.l E Sr.no.4 of Tabte A and 'Totat deposits" & "Total amount withdrawn" at 5r.no.2 & Sr.no.3 of Tabte B excludes collection from customeE deposited in the designated RERA Bank Account which was otherwise not required to be deposited, coltection for pass through charges and indirect taxes and amount received from atlottees whose auotment has been cance[[ed". 2 For the purpose of determining Utilization as per Table C, Proiect 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 (FSl)/Transferable development rights which has been identified by the management and relied upon by us. Further, we have compared the proiect cost incurred with seventy percent of the cotlections received from the customers for the project from December 01, ZO23 to l,larch 31 , 2074. where the proiect cost exceeds the seventy percent of the coltections received from the Ass customers for the proiect till lrtarch 31, 7024, it is acceptd that the Company has utitized the money col[ected from customeB only for that project. i!: 4 3 Kotak Bank Account No. 8747161623 which was submitted to the RERA authorities at the time on lnitial RERA registration and subsequent ltead Office: 602, Ftoor 6, Raheia Titanium, Western Expr6s Highway, Geetanjali Railway Colony, Raft Naga., Goregaon (E), lfumbai '{Ofl)61, lNDlA, Tet: +91 22 6218 0519 Ahmedabad l Bengaturu l Cflehmi l Goa l Gurugram ltlyderabad l /ochi l Kolkata l lumbai l Pune www.mska.ln MS KA & Associates Chartered Accountants opening of New RERA Account in HDFC Bank having Account No - 57500001402969 from December 6, 2023, has been considered as a desicnated bank account. 4 Amount received on the basis of atlotment 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 purDose of workine for issuance of FORU 5. 5 Amount received from an atlotee 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 workinq for issuance of FORI'i 5. Agreed and accepted by: s ure of Authorized signatory F av ctions Limited FoTMSKA&Associates as Pranav Constructions Private lCAl Firm's Registration no,: 105047W L ited) 9-e-!-^ ge* 7 i:: (,) Pranav Kiran Ashar Nitin Tiwarl filanoging Director Portner DIN:06800729 Membership Number: 1 18894 UDIN: 241 I 88948KGQff9703 Date: October 22, 2024 Place: l,lumbai Note: To be read with our enctosed letter on statement issued by M S K A & Associates of even date lread Office: 602, Roor 6, Rahera Titanium, western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), ltumbai ,Om63, lNDlA, Tel: +91 22 6218 0519 Ahmedabad I Bengaluru | Cheflnai I Goa I Gurugram I Hyderabad (ochi I xolkata I ilumbai I Pune