in a Dynamic Environment - Domain-b

obligations under finance lease was Rs.36.44 crore as atMarch 31, 2009 (Rs.8.80 crore as at March 31, 2008) andthese are also secured against fixed assets obtained underfinance lease arrangements.Unsecured loans as at March 31, 2009 wereRs.525.32 crore (Rs.436.95 crore as at March 31, 2008).Loans from banks as at March 31, 2009 were atRs.512.37 crore (Rs.422.29 crore as at March 31, 2008).These were commercial borrowings taken by the Companyand by its North American subsidiary. Loans repayablewithin one year are Rs.513.63 crore as at March 31, 2009(Rs.22.44 crore as at March 31, 2008). Other unsecuredloans were Rs.12.95 crore as at March 31, 2009 (Rs.14.66crore as at March 31, 2008).Deferred tax liability (net)As stated in the accounting policies (see notes to accounts,schedule Q1 (l)), deferred tax assets and liabilities areoffset , tax jurisdiction wise. Schedule ‘E’ brings out detailsof component-wise deferred tax balances where the netvalues result into liabilities or assets, jurisdiction wise. Acombined view of all deferred tax assets and liabilities,across all tax jurisdictions is summarized below.Amount in Rs. croreLiabilities AssetsMarch March March March Increase/31, 31, 31, 31, (decrease)2009 2008 2009 2008(108.86)(68.33)(8.66) (23.45)0.5356.0432.0728.70Total asset /(liability) (185.85) (136.05) 117.34 103.02 (35.48)Fixed assetsAdditions to the gross block excluding CWIP in fiscal 2009amounted to Rs.1,659.63 crore (Rs.1,157.15 crore in fiscal2008). The significant items of additions in fiscal 2009were: land and buildings of Rs.448.23 crore in fiscal 2009(Rs.398.62 crore in fiscal 2008) leasehold improvements of Rs.192.24 crore in fiscal2009 (Rs.89.19 crore in fiscal 2008) computers of Rs.543.54 crore in fiscal 2009(Rs.338.50 crore in fiscal 2008) office equipment, electrical installations andfurniture and fixtures of Rs.442.39 crore in fiscal2009 (Rs.327.11 crore in fiscal 2008).The amount in CWIP was Rs.705.49 crore as atMarch 31, 2009 (Rs.906.87crore as at March 31, 2008)mostly related to construction/improvement of facilitieswhich are likely to be ready for use in fiscal 2010 andbeyond. This CWIP included capital advances ofRs.181.57 crore as at March 31, 2009 (Rs.243.81 crore asat March 31, 2008).The Company made contractual commitments to vendorswho are executing various infrastructure projects. Theestimated amount of such contracts remaining to beexecuted on capital account was Rs.664.59 crore as atMarch 31, 2009 (Rs.515.88 crore as at March 31, 2008).Goodwill on consolidationGoodwill on consolidation as at March 31, 2009 wasRs.3,261.40 crore (Rs.1,264.95 crore as at March 31, 2008).The Company acquired 96.26 % of equity interest inTCS e-Serve Limited (formerly known as Citigroup GlobalServices Limited). On consolidation with TCS e-ServeLimited, a goodwill of Rs.1,952.18 crore has beenrecognized in fiscal 2009. Details of goodwill onconsolidation as at March 31, 2009 and March 31, 2008are shown below:Amount in Rs. croreAs at As at Increase /March March (decrease)31, 2009 31, 2008CMC Limited 296.16 296.16 -Tata AmericaInternationalCorporation 161.30 170.36 (9.06)Tata ConsultancyServicesNetherlands BV 336.03 314.94 21.09TCS Sverige AB 25.35 27.17 (1.82)TCS IberoamericaSA 305.55 264.88 40.67APOnline Limited 0.25 0.25 -TCS FNS Pty Limited 138.09 144.70 (6.61)Diligenta Limited 46.49 46.49 -TCS e-Serve Limited 1,952.18 - 1,952.18Total 3,261.40 1,264.95 1,996.4579