Page 212 - Kolte Patil AR 2019-20

Notes forming part of the Consolidated Financial Statements

NOTE 27 - REVENUE FROM OPERATIONS (H in Lakhs)

For the year ended For the year ended
Particulars
March 31, 2020 March 31, 2019
(a) Sale of properties/flats (residential and commercial) 112,305 84,699
(b) Sale of land - 1,263
(c) Revenue from services 645 625
Total 112,950 86,587

NOTE 27 A - SALE OF PROPERTIES/FLATS (RESIDENTIAL AND COMMERCIAL)

(1) Contract Balances
(a) Amounts received before the related performance obligation is satisfied are included in the balance sheet (Contract liability) as
“Advances received from Customers” in note no. 25 - Other Current Liabilities. Amounts billed but not yet paid by the customer after
giving possession/ deemed possession are included in the balance sheet under trade receivables in note no. 11

(b) There were no significant changes in the composition of the contract liabilities and Trade receivable during the reporting period
other than on account of periodic invoicing and revenue recognition.
(c) Amounts previously recorded as contract liabilities increased due to further milestone based invoices raised during the year and
decreased due to revenue recognised during the year on completion of the construction.
(d) Amounts previously recorded as Trade receivables increased due to invoices raised during the year on account of possession/
deemed possession given to customers and decreased due to collections during the year.

(e) There are no contract assets outstanding at the end of the year.
(2) Reconciliation of revenue recognised with the contracted price is as follows: (H in Lakhs)

For the year ended Fort the year ended
Particulars
March 31,2020 March 31,2019
Contracted Price 112,603 85,127
(Adjustments on account of cash discounts or early payments rebates,etc) 298 428
Revenue Recognised as per the statement of Profit & Loss 112,305 84,699

NOTE 28 - OTHER INCOME (H in Lakhs)

For the year ended For the year ended
Particulars March 31, 2020 March 31, 2019
(a) Interest income
(i) On bank deposits (at amortised cost) 292 180
(ii) Other financial assets carried at amortised cost 4 7
(iii) Others 50 -
(b) Dividend income from investments at FVTPL ( Mutual funds) 7 63
(c) Other non-operating income
- Rental income: 272 252
(d) Other gains and losses
(i) Net gain arising on financial assets and liabilities designated at FVTPL 3,186 -
(ii) Sundry balances written back 68 151
(iii) Profit on sale of fixed assets 21 -
(iv) Miscellaneous income 796 454
Total 4,696 1,107

210 | Kolte-Patil Developers Limited