GMR Hyderabad International Airport Ltd - GMR - Investor Relations

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Lil1litt~d (,the Company"} a;; iill\'larch 31, 2011 and abo the Profil and Loss account and tile. Cash fiow ..... i "IX J The Company did not hav,~ uny olJ!$ tanding ...
S.R.Batliboi & Associate" Chartered ,\cCountants J & 13'" Floor. "UB Cily" C:lnbt:lra Block. No. 24. Vinal Mallya Road. Ban&alol'e .. 56000 I. India.

Brahmayya & Co.

Chartered An'OlllItants

Khivraj 1v'lansion.

10/2, Kasturba Road.

Bangalore ,·560001. India.

Auditors' Report

To The 1\lembt'fS of GMR Ilyderabad International Airp0l1 Limited I, \\!~ have audited the atlached Balance Shet'{ of G.tvlR Hyderabad lm~~rnalional Airport Lil1litt~d (,the Company"} a;; iill\'larch 31, 2011 and abo the Profil and Loss account and tile Cash fiow $taternent for the year ended 011 thal datl\ annt'xed thereto. These financial statements are the respomibilil\ of the C()mp~lIly's Management. Our responsibility is to t~xpress an opinion on these Finaneia! Statel11t:nts based on our audit 2, We conducted our audit in accordanCe with auditing standards generally accepted in India. Those Standards require that we plan and perfurm the audit to obtain reasonable as,urance abollt whether the financial statements are free of material misstatement. All audit includes e~xamining, (Ill a lest basi~, evidence supporting the amounts and disclosures in thL'~ financial statcillents, An audit als(> indud.:.> asses~ing tbe accounting principles lIsed and ::;ignificant estimalt~$ made by Management as well as evaluating the overall financial statement presentation, We believe that our audit provides a reasonable basis for our Opilli(ln~ .), A, required by the Companies (Auditor'), Report} Order, 2003 (as amended)

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