To, The Manager-Listing Department National Stock Exchange of India Limited, Exchange Plaza, C-1, Block-G, BandraKurla Complex, Bandra (E), Mumbai - 400 051.

Dear Sir / Ma'am,

Company Symbol: ARTNIRMAN Company Series: SM

Sub: Outcome of Board Meeting pursuant to the Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

In reference with the captioned subject, we wish to inform you that a meeting of Board of Directors of Art Nirman Limited was held today on Monday,30" May, 2022 at the registered office of the company situated at 410, JBR Arcade, Science City Road, Sola, Anmedabad-380060, Gujarat, India inter alia transacted the following business:

• 1. The board of directors considered, approved and took on record the Audited Standalone Financial Results along with the Auditor's Report with unmodified opinion provided by statutory auditor of the company for the half year and year ended on 31.03.2022.
• 1. Re-Appointment M/s D.K. Thakkar &Co. Chartered Accountants, Ahmedabad as an Internal Auditor of the company for the F.Y. 2022-23. Brief profile for the same is attached as an Annexure -A.
• 1. Appointment of M/S. Yash Mehta & Associates, Ahmedabad as a Secretarial Auditor of the Company for the F.Y. 2022-23. Brief profile for the same is attached as an Annexure -B.
• 1. The board took note that all the statutory compliance for F.Y. 2021-22 done by the company. ge

Regd. Office : 410 Fourth Floor, JBR Arcade, Science City Road, Sola, Anmedabad380 060. Corporate Office : Club Babylon, Sub Plot B, Survey No. 223/5, S.P. Ring Road, Near Bhadaj Circle, Anmedabad-380060. Gujarat (INDIA)

The Board Meeting was commenced on 04:30 P.M. and Concluded at 6°35 P.M.

kindly take the same on your record.

For, Art Nirman Limited

won tcnal For, Art Nirman Limited Vy CC (AHMEDABAD Cj a i

Ashokkumar Thakker Chairman &Managing Director DIN: 02842849

Encl:- As Above

Regd. Office : 410 Fourth Floor, JBR Arcade, Science City Road, Sola, Anmedabad380 060. Gujarat (INDIA) Corporate Office : Club Babylon, Sub Plot B, Survey No. 993/5, S.P Ring Road, Near Bhadaj Circle, Anmedabad-380060. Gujarat (INDIA)

Annexure A

Regd. Office : 410 Fourth Floor, JBR Arcade, Science City Road, Sola, Anmedabad380 060. Gujarat (INDIA) Corporate Office : Club Babylon, Sub Plot B, Survey No. 223/5, S.P. Ring Road, Near Bhadaj Circle, Ahmedabad-380060. Gujarat (INDIA)

Annexure B

eS Ee

30.05.2022

To, The Manager-Listing Department National Stock Exchange of India Limited, Exchange Plaza, C-1, Block-G, BandraKurla Complex, Bandra (E), Mumbai - 400 051.

Dear Sir / Ma'am,

Company Symbol: ARTNIRMAN Company Series: SM

Sub: Declaration pursuant _to_ the Regulation 33(3) (d) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

In compliance with the provision of Regulation 33(3) (d) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we do hereby confirm and declare that M/s Arpan Shah & Associates, Chartered Accountants, Ahmedabad (FRN: 125049W, Membership Number: 116736), Statutory Auditor of the company have issued the Audit Report with Unmodified opinion in respect of the standalone financial statement of the company for quarter and year ended on March 31,2022, duly reviewed and recommend by the Audit committee and approve by the board of director of the company in their meeting held on May 30, 2022;

kindly take the same on your record.

Thanking You,

For, Art Nirman Limited

Ashokkumar Thakker Chetankumar Modi Chairman &Managing Director Chief Financial Officer DIN: 02842849

Regd. Office : 410 Fourth Floor, JBR Arcade, Science City Road, Sola, Ahmedabad380 060. Gujarat (INDIA) ^| Corporate Office : Club Babylon, Sub Plot B, Survey No. 9293/5, S.P Ring Road, Near Bhadaj Circle, Anmedabad-380060. Gujarat (INDIA)

AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, ²⁰²²

~ plone Ashokkumar Thakker Chairman & Managing Director Date: 30/05/2022 (DIN: 0002842849)

Regd. Office : 410 Fourth Floor, JBR Arcade, Science City Road, Sola, Anmedabad380 060. Gujarat (INDIA) Corporate Office : Club Babylon, Sub Plot B, Survey No. 223/5, S.P. Ring Road, Near Bhadaj Circle, Anmedabad-380060. Gujarat (INDIA)

AUDITED STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH, 2022

Regd. Office : 410 Fourth Floor, JBR Arcade, Science City Road, Sola, Anmedabad380 060. Gujarat (INDIA) Corporate Office : Club Babylon, Sub Plot B, Survey No. 223/5, S.P. Ring Road, Near Bhadaj Circle, Anmedabad-380060. Gujarat (INDIA)

Date: 30/05/2022 Place: Ahmedabad For and on behalf of the Board of ART ANTRMNA nN The

Chairman & Managing Director (DIN: 0002842849) . 3

permet Bi

Ashokkumar Thakker

Regd. Office : 410 Fourth Floor, JBR Arcade, Science City Road, Sola, Anmedabad380 060. Gujarat (INDIA) Corporate Office : Club Babylon, Sub Plot B, Survey No. 223/5, S.P. Ring Road, Near Bhadaj Circle, Ahmedabad-380060. Gujarat (INDIA)

AUDITED STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, ²⁰²²

cy ' For and on behalf_of the Board ^obeen LIMITED ^g oN iV es << be x Te

Regd. Office : 410 Fourth Floor, JBR Arcade, ScieNge City-Road, Sola, Anme Rad RRO MGC Gkiaat (INDIA) Corporate Office : Club Babylaa, Sulnsiiaizd, Survey No. 223/5, S.P. d, Near BhattajiGieais Manan 1880060. Gujarat (INDIA) DIA-900028428. \ TA te}

CIN : L45200GJ2011PLC064107 %

Notes form part of the financial results

• 1) The above Audited financial results have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meeting held on 30th May, 2022.
• 2) The figures of the previous period/year have been regrouped / recast / reclassified wherever considered necessary to conform to the current year's presentation.
• 3) The Company has only one segment i.e "Real Estate". Hence there are no reportable segments under AS-17. During the year under Report, the company has carried out all the business operations in Irdia. The conditions prevailing in India being uniform, no separate geographic disclosure are considered necessary. Hence segment reporting is not required.
• 4) The Director General of Goods & Services Tax Intelligence Zonal Unit, Anmedabad, conducted search in the premises of the company on 12/10/2018 and impounded certain material. The investigatior is concluded for certain matter for which 444.10 Lakhs amount has been paid which is recognised as expense in Statement of Profit and Loss However for another matter the appeal has been filed against demand of RS 5970176.00 for which the company has paid RS 447763 as GST Pre-deposit for Appeal and Pre-deposit amount considered under Balance sheet.
• 5) The Statement includes results for the Quarter and year ended on March 31, 2022 being balancing figures between the audited figures in respect of full financial year ended on March 31, 2022 and unaudited figures in respect of Quarter ended December 31, 2021.
• 6) The above financials have been prepared in accordance with AS-25 Interim Financial Results as prescribed under Section 133 of the Companies Act,2013 and other recognised accounting practices and policies to the extent applicable.
• 7) The above Financial Results are available on Company's website www.artnirman.com as well as on the the stock exchange website viz. www.nseindia.com

Place: Ahmedabad =

ane AMAA g > wo hh sf ) . I] _N mi c APNEA C | a ee }} Ashokkumar Thakkar (DIN: 0002842849) Date: 30/05/2022

Chairman & Managing Director

Regd. Office : 410 Fourth Floor, JBR Arcade, Science City Road, Sola, Ahmedabad380 060. Gujaret (INDIA) Corporate Office : Club Babylon, Sub Plot B, Survey No. 223/5, S.P Ring Road, Near Bhadaj Circle, Anmedabad-380060. Gujarat (INDIA)

Arpan Shah & Associates

Chartered Accountants

301, SHOPPERS PLAZA- 4 ,OPP. BSNL Telephone Exchange, C.G.Road , Ahmedabad - 380009 91-79-48977123, M.: 9824407788, 9099307788 Emailid:[email protected] [email protected]

UDIN - 22116736AJXRGR2783

Independent Auditor's Report on Quarterly Financial Results and Year to Date Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015(as amended)

To, The Board of Directors, ART NIRMAN LIMITED

Report on the audit of Financial Results

Opinion

We have audited the accompanying Quarterly financial results of Art Nirman Limited (the company) for the half year ended 31 March 2022, and the year to date results for the period from April 1, 2021 to March 31, 2022, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations")

In our opinion and to the best of our information and according to the explanations given to us these financial results:

• i. are presented in accordance with the requirements of Regulation 33 o SE ng | : Obligations and Disclosure Requirements) Regulations 2015, as a Associates
• ii. gives a true and fair view in conformity with the recognition and me laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net profit and other financial information for half year ended on 31° March 2022 and the year to date results for the period from April 1, 2021 to March 31, 2022.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Financial Results

These half yearly results as well as the year to date financial results have been prepared on the basis of the interim financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit and other financial information in accordance with the recognition and measurement principles laid down in Accounting Standard 25 "Interim Financial Reporting" prescribed under Section 133 of the Act read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and preventing and detecting frauds and other irregularities, selection and application of appropriate accounting policies, making judgments and

Arpan Shah & Associates

Chartered Accountants

301, SHOPPERS PLAZA- 4 ,OPP. BSNL Telephone Exchange, C.G.Road , Ahmedabad - 380009 91-79-48977123, M.: 9824407788, 9099307788 Emailid:[email protected] [email protected]

estimates that are reasonable and prudent, and

Design , implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of usersstakenronsthesbasisvof thesesfinancialsresults:

As part of an audit in accordance with SAs, we exercise professional que professional skepticism throughout the audit) We also: Associates

• e Identify and assess the risks of material misstatement of the financial re fraud or error, design and perform audit procedures responsive to those audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• e Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose ofexpressing an opinion on the effectiveness of the company's internal control.
• e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• e Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• e Evaluate the overall presentation, structure and content of the financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Arpan Shah & Associates

Chartered Accountants

301, SHOPPERS PLAZA- 4 ,OPP. BSNL Telephone Exchange, C.G.Road , Ahmedabad - 380009 91-79-48977123, M.: 9824407788, 9099307788 Emailid:[email protected] [email protected]

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

For, ARPAN SHAH& ASSOCIATES Chartered Accountants FRN: 125049W

(CA ARPAN SHAH) Proprietor M.NO. 116736 Place: AHMEDABAD Date: 30/05/2022

Arpan Shah & Associates