NAVANA REAL ESTATE LIMITED - Dhaka Stock Exchange

Issuer: Navana Real Estate LimitedIssue Manager: ICB Capital Management LimitedNavana Real Estate LimitedStatement of Financial PositionAs at 31 August 2010Notes 31/8/10 31/8/09BD TakaBD TakaAssetsNon-current assetsProperty, plant & equipment 3.00 147,340,495 133,401,599Investment properties 4.00 396,550,000-Total non-current assets 543,890,495 133,401,599Current assetsInventories 5.00 1,485,600,054 870,687,489Construction works in progress 6.00 3,166,160,453 2,067,986,787Deferred revenues 7.00 1,004,022,468 255,455,671Advances, deposits & pre-payments 8.00 1,909,692,127 1,355,935,466Cash & bank balances 9.00 96,835,996 42,594,451Total current assets 7,662,311,098 4,592,659,864Total assets 8,206,201,593 4,726,061,463Equity and liabilitiesCapital and reservesShare capital 10.00 300,000,000 51,000,000Retained earnings 11.00 881,924,935 408,218,519Total equity 1,181,924,935 459,218,519Non-current liabilitiesLong-term borrowings 12.00 367,844,124 468,324,514Lease finance 13.00 89,713,415 22,446,735Total non-current liabilities 457,557,539 490,771,249Current liabilitiesCurrent maturity: long term borrowings 12.00 115,018,179 130,692,535Current maturity: lease finance 13.00 25,684,602 13,646,365Short-term loan 14.00 1,342,577,118 852,463,068Advance against sales 15.00 4,568,214,590 2,620,776,246Accounts payable 16.00 289,230,349 67,818,737Accrued expenses and other payables 17.00 225,994,281 90,674,744Total current liabilities 6,566,719,119 3,776,071,695Total liabilities 7,024,276,658 4,266,842,944Total equity and liabilities 8,206,201,593 4,726,061,463Net assets value per share (par valueTk. 1000 each)3,940 1,531The annexed notes 1 to 27 form an integral part of these financial statementsSd/- Sd/- Sd/-Chairman Director Chief Financial OfficerSigned in terms of our separate report of even dateDate: DhakaRahman Mostafa Alam & Co.14 October 2010 Chartered AccountantsPage- 28