Sunstar Realty Development Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

1. These financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No.CIR/CFD/FAC/62/2016 dated July 5, 2016.

2. The aforesaid results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on May 30, 2018. Limited Review of these results as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been completed by the Statutory Auditors.

3. The adoption of Ind AS has been carried out in accordance with Ind AS 101, using April 1, 2016 as the transition date. Ind AS 101 requires that all Ind AS standards and interpretations that are effective shall be applied consistently and retrospectively for all fiscal years presented.

The following reconciliations provide a quantification of the effect of significant differences arising from the transition from previous GAAP to Ind AS in accordance with Ind AS 101:

- Equity as at April 1, 2016

- Equity as at march 31, 2017

- Total Comprehensive Income for the quarter and year ended March 31, 2017



a. Equity reconciliation



Particulars As at March 31, 2017 As at April 1, 2016



Total equity as per previous GAAP 4485.57 4476.78

Other Adjustments - -

Equity as per Ind AS 4485.57 4476.78



b. Total comprehensive income reconciliation



Particulars Quarter ended March 31,2017 Year ended March 31, 2017



Net Profit for the period as reported under 20.39 8.79

previous GAAP



Other Adjustments - -



Net Profit for the period as reported under 20.39 8.79

Ind AS



Other Comprehensive Income (net of tax) - -



Total Comprehensive income as reported 20.39 8.79

under Ind AS

4. The financial results for the quarter and financial year ended March 31, 2017 have been prepared in accordance with Companies (Accounting Standards) Rules, 2006 (previous GAAP). The management has restated the previously reported financial results for the quarter and financial year ended March 31, 2017 to comply with Ind AS,after making necessary adjustments to give a true and fair view of the affairs.

5. The company has only one reportable business segment and have only one reportable geographic segment in India, no separate segment information is required.

6. The figures of the last quarter ended March 31, 2018 and March 31, 2017 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the respective financial year which were subject to limited review by the statutory auditor of the Company.

7. Previous period's figures have been regrouped/rearranged where necessary to confirm to current period's classification.