Page 208 - Arvind 2024

Notes to Standalone Financial Statements for the year ended 31st March, 2024 (Amount in Rs. Lac, unless stated otherwise)
C. Disclosure in respect of outstanding balance as at March 31, 2024 :
Bavla Homes LLP -
Investment in subsidiary company
Arvind Hebbal Homes Private Limited 1.00 Arvind Homes Private Limited 1,251.00 Arvind Smart Homes Private limited 2,601.00
D. Terms and conditions of transactions with related parties :
1) Transaction entered into with related party are made on terms equivalent to those that prevail in arm’s length transactions. Outstanding balances at the year-end are unsecured and interest free except as specified and expected based on terms of agreement and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. The company has not recorded any provision/ write-off of receivables relating to amounts owed by related parties.
2) In respect of the transactions with the related parties, the Company has complied with the provisions of Section 177 and 188 of the Companies Act, 2013 where applicable, and the details have been disclosed above, as required by the applicable accounting standards.
3) Refer note 31 for ESOPs granted as per ESOP schemes
E. Commitments with related parties :
The company has not provided any commitment to the related party as at March 31, 2024 (March 31, 2023: Rs. Nil)
Particulars
1,217.51
1.00
1,251.00
2,601.00
F. Transactions with key management personnel :
Compensation of key management personnel of the Company
Short-term employee benefits
Post employment benefits
Other long-term employment benefits
Total compensation paid to key management personnel
595.08
595.08
Particulars
March 31, 2024
March 31, 2023
657.27
657.27
The company creates provision for post-employment gratuity benefits based on actuarial valuation of such liability. Such an actuarial valuation is carried out on a company-level and not an individual level. Hence, expenses incurred on key management personnel during the year to this extent is not identifiable and has thus not been disclosed.
39 Disclosures for Ind AS 115
Revenue from contracts with customers:
1 Disaggregation of revenue
Below is the disaggregation of the Company’s revenue from contracts with customers, which is in agreement with the contracted price and is recognised in accordance with revenue recognition policy. ( Refer Note -2.2 (i))
Particulars
Note
Year Ended March 31, 2024
Year Ended March 31, 2023
Revenue from contracts with customers
Commercial and residential units 19
Timing of revenue recognition
Revenue transferred at a point in time
10,317.99 10,317.99
12,101.94
12,101.94
206 | Arvind SmartSpaces Limited
March 31, 2024
March 31, 2023