(a) Information of net income derived from Investment property For the year ended 31 March 2023 31 March 2022 Lease rental income 16.49 15.77 Less: Depreciation (1.08) (1.08) Net income from Investment property 15.41 14.69 (b) Description of valuation technique and key assumptions used 31 March 2023 31 March 2022 Land Building Land Building Valuation technique: Discounted Cash Flow (“DCF”) method Estimated rental value per month (in absolute ₹ terms) 75,000 NA 75,000 NA Estimated rental value per square feet per month (in absolute ₹ terms) NA 28 NA 18 Rental growth per annum 5% 5% 5% 5% Discount rate 6.50% 6.50% 9.50% 9.50% (c) Changes in fair value of Investment property is shown below: Amount Fair value as on 31 March 2021 345.68 Transferred to Property, plant and equipment during the year - Increase in fair value of an existing Investment property - Fair value as on 31 March 2022 345.68 Transferred to Property, plant and equipment during the year - Increase in fair value of an existing Investment property 4.16 Fair value as on 31 March 2023 349.84 Notes: (a) The disclosed fair value of investment property is derived based on the valuation by a registered valuer as defi ned under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017. Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Heritage Foods Limited | 31st Annual report 2022-23 274
RkJQdWJsaXNoZXIy NTE5NzY=