Page 154 - Kolte Patil AR 2019-20

Notes forming part of the standalone financial statements

NOTE 27 - OTHER INCOME (H in Lakhs)
As at As at
Particulars
March 31, 2020 March 31, 2019
(a) Interest Income
(1) On bank deposits (at amortised cost) 125 36
(2) On debentures* 1,176 361
(3) Others (Interest on Inter corporate deposit) 394 415
(b) Dividend Income from
(1) Current Investments at FVTPL (mutual funds) 3 7
(2) Equity investments in subsidiaries 759 2,574
(c) Others
(1) Rental income 122 114
(2) Net gain arising on financial assets designated as at FVTPL** - 1,377
(3) Sundry balances written back - 144
(4) Gain on Sale of property, plant and Equipment 21 -
(5) Miscellaneous income 704 411
Total 3,304 5,439

* The Company, vide letters dated February 4, 2019 has revised the terms of debenture agreement and waived the right to receive interest of
H1,021 Lakhs for the financial year 2018-19 on investment in Optionally Convertible Debentures of Kolte-Patil I-Ven Townships (Pune) Limited
(KPIT), a subsidiary of the Company.
** The Company, in accordance with the requirements of the applicable accounting standards, has carried out a fair valuation of its investments
in KPIT in form of Optionally Convertible Redeemable Preference Shares and Optionally Convertible Debentures and the resultant net profit
of H1,377 Lakhs has been credited to the Statement of Profit and Loss.

NOTE 28 - COST OF SERVICES, CONSTRUCTION AND LAND (H in Lakhs)

As at As at
Particulars
March 31, 2020 March 31, 2019
(a) Opening stock including raw material, construction work-in-progress and 1,53,356 88,450
completed properties
Add: Transitional adjustment on account of application of Ind AS 115 - 49,336
(a) 1,53,356 1,37,786
(b) Add: Cost incurred during the year
Cost of land/ development rights 3,924 3,507
Purchase of raw material 9,496 13,640
Contract cost and labour charges 17,905 17,727
Other construction expenses 4,112 4,549
Personnel costs 1,845 1,744
(b) 37,282 41,166
(c) Less : Closing stock including raw material, construction work-in-progress (c) 1,45,124 1,53,356
and completed properties
Total (a+b-c) 45,514 25,597

152 | Kolte-Patil Developers Limited