The Board of Directors takes pleasure in presenting this comprehensive Directors' Report, accompanied by the Audited
Financial Statements and Independent Auditors' Report, for the financial year concluded on March 31, 2025. The key financial
performance indicators and results achieved during the year are summarized below:

FINANCIAL PERFORMANCE
OPERATIONAL PERFORMANCE

Standalone Financial Results

During the financial year under review, your Company delivered strong operational performance with sustained growth across
key financial metrics:

Revenue Performance:

Revenue from operations increased to ' 12,225.98 Lakhs compared to ' 7,656.31 Lakhs in the previous year, recording a robust
growth of 59.7%

Other Income grew to ' 1,600.73 Lakhs from ' 1,360.94 Lakhs in the previous year, representing an increase of 17.6%

Profitability:

The Company achieved an exceptional Profit Before Tax of ' 3,469.38 Lakhs, marking a substantial improvement of 701.9% from
' 432.74 Lakhs in the previous year

After accounting for interest, finance charges, and depreciation, the Company reported a strong Profit After Tax of ' 2,545.70
Lakhs compared to ' 322.50 Lakhs in the previous year, representing an impressive growth of 689.3%

This outstanding performance demonstrates the Company's effective business strategy, operational efficiency, and strong
market positioning in the real estate sector.

Consolidated Financial Results

On a consolidated basis, your Company continued its growth trajectory and delivered remarkable results across all business
segments:

Revenue Growth:

Consolidated revenue from operations increased significantly to ' 20,643.59 Lakhs from ' 12,408.21 Lakhs in the previous year,
recording a substantial growth of 66.4%

Other Income improved to ' 1,500.16 Lakhs from ' 1,164.66 Lakhs in the previous year, showing an increase of 28.8%

Strong Profitability:

Despite challenging market conditions during the year, the Company maintained its upward growth momentum Consolidated Profit
After Tax reached ' 4,270.14 Lakhs compared to ' 1,35014 Lakhs in the previous year, marking an outstanding growth of 216.3%

The consolidated results underscore the resilience of your Company's diversified real estate portfolio and the successful
execution of strategic development projects across multiple markets.

Key Financial Highlights
Performance Analysis

The financial year 2024-25 has been transformational for your Company, characterized by:

Revenue Expansion: Significant growth in both standalone and consolidated revenue streams
Margin Improvement: Enhanced profitability ratios demonstrating operational efficiency
Strategic Resilience: Strong performance despite prevailing market challenges
Portfolio Strength: Diversified revenue base providing stability and growth opportunities

Your Directors are pleased to report that the Company has successfully capitalized on market opportunities while maintaining
financial discipline, resulting in exceptional value creation for all stakeholders.

FINANCIAL HIGHLIGHTS

DIVIDEND

Despite your Company’s strong operating performance and
healthy profits for the financial year, the Board of Directors,
after careful consideration, has decided not to recommend
any dividend for the year ended 31^st March 2025. This
decision has been taken keeping in mind the need to conserve
resources, strengthen the balance sheet, and provide greater
financial flexibility to fund future growth opportunities and
strategic initiatives. The Board believes that retaining the
profits will help the Company to invest in expansion plans,
technology upgrades, working capital, repayment of debts,
and other corporate needs, thereby enhancing long-term
shareholder value.

SHARE CAPITAL

During the year under review, the Company increased its
Authorised Share Capital from ' 10,00,00,000 (Rupees Ten
Crore only) to ' 30,00,00,000 (Rupees Thirty Crore only),
pursuant to the approval of the members by Postal Ballot held
on 08^th November 2024.

The Paid-up Share Capital of the Company also increased
from ' 8,60,00,000 (86,00,000 equity shares of ' 10 each)
to ' 9,96,56,240 (99,65,624 equity shares of ' 10 each), as
a result of allotment of equity shares through Preferential
Allotment.

Further, 8,96,873 share warrants were issued on a preferential
basis to both promoter and non-promoter categories.

During the year, the Company has not issued any equity
shares with differential rights as to dividend, voting, or
otherwise, nor has it issued any sweat equity shares to its
directors or employees.

RESERVES & SURPLUS

The Company not made any transfer of amounts to General
Reserve for the financial year ending 31^st March 2025.

SUBSIDIARIES & JOINT VENTURES/
ASSOCIATES

As on 31^st March, 2025, your Company has eight (8) wholly
owned subsidiaries and one (1) joint venture. The Company
does not have any associates.

The wholly owned subsidiaries are:

1. M/s. Arihant Griha Limited

2. M/s. Vaikunt Housing Limited

3. M/s. Varenya Constructions Limited

4. M/s. Transparent Heights Real Estate Limited

5. M/s. Escapade Real Estates Private Limited
(Step-down subsidiary)

6. M/s. Vihaana Realty Private Limited

7. M/s. Vinyasa Realty Private Limited

8. M/s. Verge Realty Private Limited

The joint venture entity is M/s. Kairav Developers Limited.

The financial highlights of the subsidiaries and the joint
venture, as required under Section 129(3) of the Companies
Act, 2013, are provided in Form AOC 1, annexed to this Report
as Annexure 1.

RELATED PARTY TRANSACTIONS:

All transactions with related parties were reviewed and
approved by the Audit Committee and are in accordance with
the policy on related party transactions and the related party
framework, formulated and adopted by the Company

All contracts/arrangements/transactions entered into by the
Company during the year under review with related parties
were in the ordinary course of business and on arm’s length. All
transactions entered into with related parties were approved

by the Audit Committee of the Company. During the year
under review, the Company had not entered into any contract/
arrangement/transaction with related parties which could be
considered material in accordance with the policy on related
party transactions or which is required to be reported in Form
No. AOC - 2 in terms of Section 134(3)(h) read with Section
188 of the Act, and Rule 8(2) of the Companies (Accounts)
Rules, 2014. Accordingly there are no transactions that are
required to be reported in Form No. AOC - 2. Transactions
with related parties, as per requirements of Indian Accounting
Standard 24 and Schedule V of SEBI Listing Regulations are
disclosed in the notes of the financial statements respectively
in the Annual Report. The form is enclosed as Annexure-2 to
this report.

The Board has approved a policy for related party transactions
which has been uploaded on the Company’s website. https://
www.arihantspaces.com/investors.

MANAGEMENT DISCUSSION & ANALYSIS
REPORT:

In accordance with Regulation 34(2)(e) of the Listing
Regulations, the Management Discussion and Analysis
Report forms part of the Corporate Overview section and
may be referred to on Page 24 of this Annual Report.

PUBLIC DEPOSITS

The Company has not accepted any deposits falling within
the meaning of Section 73 or 74 of the Act read with the
Companies (Acceptance of Deposits) Rules, 2014 during the
financial year and as such, no amount on account of principal
or interest on deposits from public was outstanding as on 31^st
March 2025.

REPORT ON CORPORATE GOVERNANCE

Your Company ensures good corporate governance by
implementing and complying with the policies, standards
set out by Securities and Exchange Board of India and other
regulatory authorities. The requisite certificate issued by
M/s. V Suresh Associates, Practicing Company Secretary
confirming compliance with the conditions of Corporate
Governance as stipulated under Regulation 34(3) of the
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, is attached to this Report as
Annexure 3.

MATERIAL CHANGES AND COMMITMENTS
AFFECTING THE FINANCIAL POSITION OF
THE COMPANY:

There are no material changes and commitments affecting
the financial position of the Company which have occurred
between the end of the financial year ended 31^st March 2025
to which the Financial Statements relates and the date of
signing of this report.

PARTICULARS OF LOANS, GUARANTEES
OR INVESTMENTS

The Company makes investments or extends loans/
guarantees to its Subsidiaries for their business purposes
as and when required by them for its emergent business

requirements. The details of loans, guarantees and
investments covered under Section 186 of the Companies Act,

2013 (‘the Act’) along with the purpose for which such loan or
guarantee were utilised forms part of the Notes to standalone
financial statements attached to this Annual report..

DETAILS OF APPLICATION MADE OR
ANY PROCEEDING PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY CODE,
2016 (31 OF 2016) DURING THE FINANCIAL
YEAR:

No application was made or any proceeding pending under
the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during
the financial year 2024-25.

DISCLOSURE UNDER RULE 8(5)(XII) OF
THE COMPANIES (ACCOUNTS) RULES,

2014

There was no instance of one-time settlement with any bank
or financial institution.

TRANSFER OF UNCLAIMED DIVIDEND TO
INVESTOR EDUCATION AND PROTECTION
FUND

There was no amount required to be transferred to Investor
Education and Protection Fund during the year.

DETAILS OF DIFFERENCE BETWEEN
AMOUNT OF THE VALUATION DONE AT
THE TIME OF ONE TIME SETTLEMENT
AND THE VALUATION DONE WHILE
TAKING LOAN FROM THE BANKS OR
FINANCIAL INSTITUTIONS ALONG WITH
THE REASONS THEREOF DURING THE
FINANCIAL YEAR:

Not applicable during the financial year.

CHANGE IN NATURE OF BUSINESS:

During the year under review, there has been no change in the
Company’s nature of business.

DIRECTORS:

During the period the Composition of Directors the Company
was in compliance with Section 149 of the Companies Act and
Regulation 17 of the SEBI (Listing Obligations & Disclosure
Requirements) Regulation, 2015.

A) Directors Retiring by Rotation

Pursuant to the requirements of the Act and Articles of
Association of the Company Mr. Bharatkumar Mangilal
Jain (DIN: 00083236) is liable to retire by rotation and,
being eligible, offers himself for re-appointment. The Board
recommends the appointment of Mr. Bharatkumar Mangilal
Jain (DIN: 00083236) as Director of the Company retiring by
rotation.

B) Key Managerial Personnel

Pursuant to Section 2(51) and 203 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014, the following are the Key Managerial Personnel of the Company:

^A Appointed on 30.05.2024

The remuneration and other details of these Key Managerial Personnel for Financial Year 2024-25 are provided in the Annual
Return which is available on the website of the Company.

C) Committees:

(I) Audit Committee

The Audit Committee had a number of meetings, both formal
and internal interactions, with the management team to
review Accounts, Finances, Compliances and Risks, and in
ensuring improved internal reporting, analyses and financial
performances.

Given the increasing complexities presented by the new
Companies Act and other Laws, the Audit Committee has
also focused on Compliance and Governance to meet the
needs of the present and the future. When necessary, external
consultants have been brought in to support the Committee
and the Management team.

We are happy to report to you that the governance of your
Company is of a high order as a result. Further improvements
are being implemented.

The Audit Committee composition under provisions of
section 177 of the Act and as required under Reg. 18 of the
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 is depicted below:

Mr. Karan Bhasin, Chairman of the Committee -I & NE

Mr. Prateek Khicha, Member of the Committee - I & NE#

Mr. Kamal Lunawath, Managing Director, Member of the
Committee - NI &E

Ms. Mary Belinda Jyotsna, Secretary of the Committee.

Note: I- Independent, NE- Non-Executive, E- Executive

(II) Nomination and Remuneration Committee

The Nomination and Remuneration Committee has been
active in its role as stipulated in Section 178 of the Companies
Act 2013. The policy of remuneration for the Directors, KMPs
and employees are stated elsewhere in the report.

The Nomination & Remuneration Committee consists of
Mr. Karan Bhasin, Chairman of the committee, Mrs. Ann
Gonsalvez, Independent Director, Ms. Shruti Suresh Kumar,
Independent Director and Mr. Prateek Khicha, Independent
Director. The Company Secretary of the Company acts as the
Secretary to the Committee.

The Committee is formed in accordance with Section 178 of
the Companies Act, 2013. The Nomination and Remuneration
Committee has coined a Remuneration Policy as under
Reg. 19 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 for the purpose of
determining the Remuneration to the Directors.

(III) Stakeholder Grievance Committee/ Stakeholder
Relationship Committee:

The Stakeholder Grievance committee comprises of,
Mr. Karan Bhasin - Chairman of the committee, Mr. Kamal
Lunawath, Managing Director and Mr. Prateek Khicha,
Independent Director as the members of the committee. The
Company Secretary of the Company acts as the Secretary to
the Committee.

The Committee is formed in accordance with Section 178
of the Companies Act, 2013 to consider and resolve the
grievances of security holders of the Company.

D) Changes in Directors and Key Managerial Personnel

During the period under review, the following are the changes in directors and Key Managerial Personnel

After the closure of financial year

E) Meetings of the Board and Committees:

During the Financial Year 2024-25, the Board of Directors met
Ten (10) times and the details of the meetings of the Board
and its Committees are given in the Corporate Governance
Report (Annexure 3). The gap intervening between two
meetings was within the time prescribed under the Act and
Listing Regulations.

Details of attendance of meetings of the Board, its Committees
and the Annual General Meeting are included in the Report
on Corporate Governance, which forms part of this Annual
Report.

F) Declaration by Independent Directors

A declaration by the Independent Directors that they meet
the criteria of independence as provided in sub-section (6) of
Section 149 of the Companies Act, 2013 was taken on record
by the Board in their meeting held on May 04, 2024. The terms
and conditions of appointment of the Independent Directors
are placed on the website of the Company https://www.
arihantspaces.com/investors/code-of-conduct/

The Company has also disclosed the Directors’ familiarization
program on its website https://www.arihantspaces.com/
investors/code-of-conduct/.

The independent directors have met on 24.03.2025 without
the presence of non-independent directors and reviewed
the performance of non-executive directors, chairman and
executive directors and analyzed the flow of information to
the Board. All the Independent directors were present at the
meeting.

The Board also evaluated its own performance and that of its
committees & Independent Directors.

NON-EXECUTIVE DIRECTORS’

COMPENSATION AND DISCLOSURES

None of the Independent / Non-Executive Directors
have any pecuniary relationship or transactions with the
Company which in the Judgment of the Board may affect the
independence of the Directors.

CONSOLIDATED FINANCIAL STATEMENTS

In accordance with the Indian Accounting Standards
(IND-AS) on consolidated financial statements read with
Accounting Standard IND-AS-28 on investment in associates
and on financial reporting of interest in Joint Venture, Auditors
Report on the consolidated financial statements, audited
consolidated Balance Sheet, Profit and Loss account and
Cash flow statements are provided in the Annual Report.

CONSERVATION OF ENERGY,

TECHNOLOGY ABSORPTION, FOREIGN -
EXCHANGE EARNINGS AND OUTGO.

The Company has taken necessary steps for conservation of
energy and technology absorption.

There are no foreign - exchange earnings and outgo.

DISCLOSURE UNDER THE SEXUAL
HARASSMENTOF WOMEN ATWORKPLACE
(PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013

The Company has in place an Anti-Sexual Harassment
Policy in line with the requirements of The Sexual
Harassment of Women at the Workplace (Prevention,
Prohibition & Redressal) Act, 2013. An Internal Complaints
Committee (ICC) has been set up by your Company to
redress complaints received regarding sexual harassment.
All employees (permanent, contractual, temporary, trainees)
are covered under this policy.

During the year the Company has not received any complaint
under Sexual Harassment of Women at the Workplace
(Prevention, Prohibition & Redressal) Act, 2013.

REMUNERATION POLICY OF THE
COMPANY:

The objective of the remuneration policy of the Company is
to ensure that the level and composition of remuneration
is reasonable and sufficient to attract, retain and motivate
directors of the quality required to run the Company

successfully; relationship of remuneration to performance is
clear and meets appropriate performance benchmarks; and
remuneration to directors, key managerial personnel and
senior management involves a balance between fixed and
incentive pay reflecting short and long-term performance
objectives appropriate to the working of the Company and its
goals.

DETAILS OF SIGNIFICANT AND MATERIAL
ORDERS PASSED BY THE REGULATORS
OR COURTS OR TRIBUNALS:

There are no significant and material orders passed by the
Regulators or Courts or Tribunals which would impact the
going concern status of the Company

SECRETARIAL STANDARDS

The Company has complied with the applicable Secretarial
Standards issued by the Institute of Company Secretaries
of India, including Secretarial Standard on Meetings of the
Board of Directors (SS-1), Secretarial Standard on General
Meetings (SS-2).

PROHIBITION OF INSIDER TRADING

In terms of the provisions of the Securities and Exchange
Board of India (Prohibition of Insider Trading) Regulations,
2015, as amended (PIT Regulations), the Company has
adopted the revised “Code of Conduct to Regulate, Monitor
and Report Trading by Insiders” (“the Code"). The Code
is applicable to all Directors, Designated persons and
connected Persons and their immediate relatives, who have
access to unpublished price sensitive information relating to
the Company. The Company has also formulated a ‘Code of
Practices and Procedures for Fair Disclosure of Unpublished
Price Sensitive Information (UPSI)’ in compliance with the PIT
Regulations.

The aforesaid Codes are posted on the Company’s website
and can be accessed by using web link at: https://www.
arihantspaces.com/investors/code-of-conduct.

STATEMENT REGARDING OPINION
OF THE BOARD WITH REGARD TO
INTEGRITY, EXPERTISE AND EXPERIENCE
(INCLUDING THE PROFICIENCY) OF THE
INDEPENDENT DIRECTORS APPOINTED
DURING THE YEAR

In the opinion of the Board of Directors of the Company,
Independent Directors on the Board of Company hold highest
standards of integrity and are highly qualified, recognized and
respected individuals in their respective fields. It’s an optimum
mix of expertise (including financial expertise), leadership and
professionalism.

DIRECTORS RESPONSIBILITY STATEMENT

To the best of their knowledge and belief and according to
the information and explanations obtained by them, your
Directors make the following statements in terms of Section
134(3)(c) of the Companies Act, 2013:

i. in the preparation of the annual accounts, the applicable
accounting standards have been followed along with
proper explanation relating to material departures.

ii. the directors have selected such accounting policies
and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give
true and fair view of the state of affairs of the Company at
the end of the financial year and of the profit or loss of the
Company for that period.

iii. the directors have taken proper and sufficient care to
maintain adequate accounting records in accordance
with the provisions of this Act for safeguarding the assets
of the Company and for preventing and detecting fraud
and other irregularities.

iv. the directors have prepared the annual accounts on a
going concern basis.

v. that proper internal financial controls were in place and
that the financial controls were adequate and were
operating effectively.

vi. that systems to ensure compliance with the provisions of
all applicable laws were in place and were adequate and
operating effectively.

DECLARATION REGARDING COMPLIANCE
BY BOARD MEMBERS AND SENIOR
MANAGEMENT PERSONNEL WITH THE
COMPANY’S CODE OF CONDUCT

The Code of Conduct of the Company aims at ensuring
consistent standards of conduct and ethical business
practices across the Company This Code is reviewed on an
annual basis and the latest Code is available on the website of
the Company at weblink https://www.arihantspaces.com/wp-
content/uploads/2022/06/Code-of-Conduct-for-Directors-
and-SM.pdf. Pursuant to the Listing Regulations, confirmation
from the Managing Director and Chief Executive Officer
regarding compliance with the Code by all the Directors and
senior management of the Company is given in Annexure I to
the Corporate Governance.

CEO/CFO CERTIFICATION

Appropriate certification as required under Reg. 17(8) of the
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015. Mr. Arun Rajan, Chief Executive Officer
and Mr. Vimal Lunawath, Chief Financial Officer have certified
to the Board regarding Financial Statements for the year
ended 31^st March 2025 which is attached as Annexure II to
Corporate Governance Report.

VIGIL MECHANISM / WHISTLE BLOWER
MECHANISM

The Company has a vigil mechanism to deal with instances
of fraud and mismanagement, if any. The details of the Policy
are explained in the Corporate Governance Report and also
posted on the website of the Company.

CORPORATE SOCIAL RESPONSIBILITY

In terms of Section 135 of the Companies Act, 2013, the
provisions relating to Corporate Social Responsibility (CSR)
are not applicable to the Company for the financial year, as
the prescribed thresholds for CSR applicability have not been
met.

STATEMENT PURSUANT TO LISTING
REGULATIONS:

Your Company’s shares are listed with BSE Ltd. We have paid
the respective annual listing fees and there are no arrears.

STATUTORY AUDITORS

The Company has appointed M/s. B.P Jain & Co, Chennai
(Firm Regn. No. 007735S) in the 29^th Annual General Meeting
held on 30^th September 2022 for a period of 5 years from
the 29^th annual general meeting until the conclusion of
the 34^th annual general meeting of the Company on such
remuneration as may be fixed by the Board of Directors. In
view of the amendment to the Companies Act, 2013 notified
by the Ministry of Corporate Affairs dated 7^th May 2018, no
longer their appointment needs to be ratified by the Members
of the Company.

COST AUDITOR

Pursuant to the provisions of Section 148 of the Companies
Act, 2013 read with the Companies (Cost Records and
Audit) Rules, 2014, the maintenance of cost records is
applicable to the Company. The Board of Directors, on the
recommendation of the Audit Committee, has appointed
M/s. Ramachandran and Associates, Cost Accountants (Firm
Registration No. 000799), having their office at Chennai, as
the Cost Auditors of the Company for the financial year 2025¬
2026 at a remuneration of ' 1,50,000, subject to Approval by
the shareholders at the ensuing Annual General Meeting.

AUDITORS' REPORT

There are no qualifications or adverse remarks mentioned in
the Auditors' report. The notes to accounts, forming part of
financial statements, are self-explanatory and need no further
clarification.

SECRETARIAL AUDITORS

The Board appointed M/s. V Suresh Associates, Practicing
Company Secretaries, Chennai to conduct a Secretarial Audit
for the Financial Year 2024-25. The Secretarial Audit Report
for the Financial Year ended March 31, 2025, is attached to
this Report as Annexure 4.

REPLY TO SECRETARIAL AUDIT REPORT:

The Board of Directors’ explanation for the observations made
in the Secretarial Audit report is annexed in Annexure 5.

ADEQUACY OF INTERNAL AUDIT AND
INTERNAL FINANCIAL CONTROL

The Company has in place adequate Internal Audit and
Internal Financial Controls with reference to the financial
statements, which is evaluated by the Audit Committee as
per Part C of Schedule II of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations 2015.

Apart from Statutory Audit, your Company, in compliance
with Section 138 of the Companies Act, 2013, had engaged
M/s N S Shastri & Co., Chartered Accountants, (Firm’s
Registration No.: 015093S) Chartered Accountants,
Chennai as the Internal Auditors of the Company for the
financial year 2024-25. Findings and observations of the
Internal Auditors are discussed, and suitable corrective
actions are taken as per the directions of the Audit Committee
on an on-going basis to improve efficiency in operations.

The Company's internal control systems are well established
and commensurate with the nature of its business and the
size and complexities of operations and adequate with
reference to the financial statements as envisaged under the
Companies Act, 2013.

PERFORMANCE EVALUATION OF BOARD
AND ITS COMMITTEES

Pursuant to the provisions of the Act and Listing Regulations
and as per Guidance Note on Board Evaluation issued
by SEBI on 5^th January 2017, the Board has carried out
annual performance evaluation of its own performance, the
Directors individually as well as evaluation of the working of
its committees at its meeting held on 08^th October 2024. The
Nomination and Remuneration Committee has defined the
evaluation criteria for the performance evaluation of individual
Directors, the Board and its Committees. The performance
of the Board, its committees and individual Directors was
evaluated by the Nomination and Remuneration Committee
and Board after seeking input from all the respective
Committee members and Directors.

RISK MANAGEMENT

Pursuant to Section 134(3)(n) of the Companies Act, 2013
and Regulation 21 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015, The Company has a risk
policy defining risk management governance model, risk
assessment and prioritization process. The Risk Management
Committee adopted a follow-up risk management framework
to review and monitor the key risks and their mitigation
measures periodically and provide an update to the Board
on the Company’s risks. The Audit Committee has additional
oversight on financial risks and controls.

ANNUAL RETURN

The annual return of the Company has been uploaded in the
web site and the same can be accessed through web site link
https://www.arihantspaces.com/investors.

REPORTING OF FRAUD

The Auditors of the Company, Cost Auditors or the Secretarial
Auditors have not reported any fraud as specified under
Section 143 (12) of the Companies Act, 2013.

PERSONNEL

The Board wishes to place on record its appreciation for all
employees of the Company, for their wholehearted efforts and
contribution to the performance and growth of the Company.

CAUTIONARY STATEMENT

The Annual Report including those which relate to the
Directors’ Report, Management Discussion and Analysis
Report may contain certain statements on the Company’s
intent expectations or forecasts that appear to be forward¬
looking within the meaning of applicable securities laws and
regulations while actual outcomes may differ materially from
what is expressed herein. The Company bears no obligations
to update any such forward-looking statement. Some of the
factors that could affect the Company’s performance could
be the demand and supply for Company’s product and
services, changes in Government regulations, tax laws, forex
volatility etc.

ACKNOWLEDGEMENTS

Your directors place on records their gratitude for the support
and co-operation received from CMDA, Corporation of
Chennai, various statutory bodies of the Government of India,
Banks and Financial Institutions, Customers, Suppliers and
Shareholders and for their continued support. The Board also
wishes to place its sincere appreciation to the dedicated and
committed team of employees.

Annexures forming part of this Directors’ Report

The following annexures referred in this report and other
information which are required to be disclosed are attached
and forms an Integral part of this Directors’ report

i) Annexure 1 - Form AOC - 1

ii) Annexure 2 - Form AOC - 2

iii) Annexure 3 - Report on Corporate Governance

iv) Annexure 4 - Secretarial Auditor Report

v) Annexure 5 - Reply to Secretarial Report

vi) Annexure 6 - Information required under Section 197 of
the Companies Act, 2013 and rules made there-under in
respect of Employees of the Company

For and on behalf of the Board of Directors
ARIHANT FOUNDATIONS & HOUSING LIMITED

KAMAL LUNAWATH VIMAL LUNAWATH

Place: Chennai Managing Director Whole-time Director/CFO

Date: 30-05-2025 DIN: 00087324 DIN: 00586269