TCI Developers Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2019

Notes:

1.These financial results were reviewed by the audit committee and were thereafter approved by the Board of Directors of the Company at their respective meetings held on 29th January, 2020. The statutory auditors of the Company have carried out the limited review of these financial results.

2. As the Company's main business activities fall within a single primary business segment viz. "Real Estate and Warehousing", the disclosure requirements of Ind AS 108 'Operating Segments' are not applicable.

3. The consolidated figures include financials of subsidiary companies and subsidiary partnership firms of the company.

4. The company has adopted Ind AS 116 "Leases" w.e.f the date of Initial application being April 1, 2019, Ind AS 116 replaces Ind AS 17 - "Leases and related interpretation and guidance". The Company has elected the option of the modified retrospective approach and there were no material adjustments required to be made in the retained earnings as at April 1, 2019. The adoption of Ind AS 116 did not have any material impact on the above financial results.