Page 263 - Arvind 2024

Corporate Overview Statutory Reports Financial Statements
Notes to Consolidated Financial Statements for the year ended 31st March, 2024 (Amount in Rs. Lac, unless stated otherwise)
filed against the Group is not presently ascertained and accordingly no provision in respect thereof has been made in the books of account of the Group.
29 Segment Reporting
The Group is primarily engaged in the development of real estate comprising of residential, commercial and industrial projects. Group’s performance for operation as defined in Ind AS 108 are evaluated as a whole by Managing Director & CEO/Chief Financial Officer who are chief operating decision maker (‘CODM’) of the Group based on which development of real estate activities are considered as a single operating segment. The Group reports geographical segment which is based on the areas in which major operating divisions of the Group operate and the entire operations are based only in India and hence no further disclosures are made in this regards. During the year 2023-24 and 2022-23 , no single external customer has generated revenue of 10% or more of the Group’s total revenue.
30 Disclosure pursuant to employee benefits
A. Defined contribution plans : Provident fund and employee state insurance
The group makes contribution towards employees’ provident fund and employees’ state insurance plan scheme. Under the rules of these schemes, the group is required to contribute a specified percentage of payroll costs. The group during the year recognized Rs.182.06 Lac (March 31,2023 : Rs.137.66 Lac ) as expense towards contributions to these plans.
B. Defined benefit plans
(a) Gratuity
The Group provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continuous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement / termination is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number of years of service. The gratuity plan is a non funded plan.
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