Contract Assets (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| Revenue from Contract with Customer [Abstract] |
|
| Schedule of Contract Assets |
Contract
assets consisted of the following as of March 31:
Schedule of Contract Assets
| | |
| | |
| |
| | |
As
of March 31, | |
| | |
2026 | | |
2025 | |
| | |
USD | | |
USD | |
| | |
| | |
| |
| Contract assets: | |
| | | |
| | |
| Revenue recognized in excess of
amounts paid or payable (contract receivable) to the Company on uncompleted contracts (contract asset) excluding retainage | |
| 707,969 | | |
| 5,494,391 | |
| Retainage included in contract assets due to
being conditional on something other than solely passage of time | |
| 1,284,159 | | |
| 2,096,843 | |
| Less: allowance for credit
loss | |
| (301,010 | ) | |
| (650,759 | ) |
| Contract assets, net | |
| 1,691,118 | | |
| 6,940,475 | |
| | |
| | | |
| | |
| Contract assets, current | |
| 1,691,118 | | |
| 5,304,061 | |
| Contract assets,
non-current | |
| - | | |
| 1,636,414 | |
|
| Schedule of Movement of Revenue Recognized in Excess of Amounts Payable |
The
movement of revenue recognized in excess of amounts paid or payable (excluding retainage) before net of allowance for credit loss is
as follows:
Schedule of Movement of Revenue Recognized in Excess of Amounts Payable
| | |
| | |
| |
| | |
As
of March 31, | |
| | |
2026 | | |
2025 | |
| | |
USD | | |
USD | |
| | |
| | |
| |
| Balance at beginning of the year | |
| 5,494,391 | | |
| 5,960,812 | |
| Increase as a result of total work completed
during the year | |
| 11,018,290 | | |
| 33,851,041 | |
| Decrease as a result of
total amount billed out | |
| (15,804,712 | ) | |
| (34,317,462 | ) |
| Balance at end of the
year | |
| 707,969 | | |
| 5,494,391 | |
|
| Schedule of Movement of Retainage Before Net of Allowance for Credit Loss |
The
movement of retainage before net of allowance for credit loss is as follows:
Schedule of Movement of Retainage Before Net of Allowance for Credit Loss
| | |
| | |
| |
| | |
As
of March 31, | |
| | |
2026 | | |
2025 | |
| | |
USD | | |
USD | |
| | |
| | |
| |
| Balance at beginning of the year | |
| 2,096,843 | | |
| 977,931 | |
| Increase as a result of changes in progress
of ongoing projects | |
| 191,944 | | |
| 1,145,165 | |
| Reclassified to accounts
receivable as payment becomes unconditional | |
| (1,004,628 | ) | |
| (26,253 | ) |
| Balance at end of the
year | |
| 1,284,159 | | |
| 2,096,843 | |
|
| Schedule of Movement of Allowance for Loss Account |
The
movement of allowance for loss accounts are as follows:
Schedule of
Movement of Allowance for Loss Account
| | |
| | |
| |
| | |
As
of March 31, | |
| | |
2026 | | |
2025 | |
| | |
USD | | |
USD | |
| | |
| | |
| |
| Balance at beginning of the year | |
| 650,759 | | |
| 99,646 | |
| (Reversal) addition during
the year | |
| (349,749 | ) | |
| 551,113 | |
| Balance at end of the
year | |
| 301,010 | | |
| 650,759 | |
|