This was also the first quarter where the new accounting standard of IND AS 115 was followed by the company, which uses the project completion method instead of the existing percentage completion method. While some fluctuations in reporting the income are expected, there is no impact on the company’s cash flow or income tax liability, as the company continues to follow percentage completion method under Income Computation and Disclosure Standards (ICDS) for income tax purpose. In other words, it is a compliance requirement which will not have any impact on the overall business of the company. We are confident that on completion of some of the ongoing projects in this financial year, the overall income growth momentum will be maintained
- Star Rating to be the game changer of real estate: Balvinder Kumar, Member, UP RERA
- Is real estate realistic with resolution to make 2020 best year ever?
- Remarkable resilience of Indian real estate in 2019
- Which are top cities for real estate investments?
- Is Indian real estate ready to learn the lessons of 2019?
- Track2Realty lists Top 10 Indian shopping malls
- Certified guarantee of positive coverage is not journalism
- Indian malls neither destination shopping nor hangout zones