Page 280 - Arvind 2024

Notes to Consolidated Financial Statements for the year ended 31st March, 2024 (Amount in Rs. Lac, unless stated otherwise)
40 Disclosures for Ind AS 115
Revenue from contracts with customers:
1 Disaggregation of revenue
Set out below is the disaggregation of the group’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 -2.3 (k))
Particulars
Revenue from contracts with customers
Commercial and residential units 19
Timing of revenue recognition
Revenue transferred at a point in time
2 Contract balances
Trade and other receivables 6 Contract liabilities 18
24,576.14
24,576.14 24,576.14
271.29 77,789.16
Contract liabilities include advances received from customers as well as deferred revenue representing transaction price allocated to unsatisfied performance obligations. The increase in contract liabilities majorly pertains to revenue to be recognised pertaining to Uplands, Highgrove and Oasis projects.
Revenue recognised during the year that was included in the contract liability balance at the beginning of the year.
3 Performance obligations
Aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied as of the end of the current year **
Revenue to be recognised at a point in time
20,461.09
71,442.68
** The group expects to satisfy the performance obligations when (or as) the underlying real estate projects to which such performance obligations relate are completed.
For information on major customers refer note no.29.
278 | Arvind SmartSpaces Limited
Note
For the year 2023-24
For the year 2022-23
33,023.56
33,023.56
33,023.56
Particulars
Note
As on March 31, 2024
As on March 31, 2023
261.84
1,20,151.22
Particulars
March 31, 2024
March 31, 2023
18947.61
Particulars
March 31, 2024
March 31, 2023
52,666.81