Lead Accountant (Real Estate Development) (Hyderabad)

Company Description

Srihari Homes & Townships is a renowned real estate development company dedicated to creating premium residential spaces that combine modern comfort, vastu compliance, and long-term value. With a strong focus on emerging locations, our projects include high-quality villas, plotted developments, and well-designed communities tailored for contemporary lifestyles. We prioritize quality construction, explicit documentation, and transparency to meet the expectations of our customers. At Srihari Homes, we are committed to delivering sustainable, strategically located projects that serve as ideal foundations for families and investments. Together, we build trust, create homes, and shape futures.

Job Description: Senior Accountant (Construction & Infrastructure)

Experience: 5–8 Years

Location: Patancheru, Hyderabad.

Industry: Construction / Real Estate / Infrastructure

Role Objective

We are seeking a seasoned Senior Accountant with specific experience in the Construction industry to manage project-based accounting, complex statutory compliances, and financial reporting. The ideal candidate will be adept at managing multi-site accounts, sub-contractor payments, and ensuring rigorous internal controls over material and labor costs.

Key Responsibilities

1. Project Accounting & Reconciliations

• Project Costing: Maintain detailed cost records for various construction sites;

track "Actual vs. Budgeted" expenditures (Material, Labor, Overheads).

• Sub-contractor Management: Verify Sub-contractor/Vendor bills against Work Orders (WO) and Physical Progress Reports. Manage retention money, mobilization advances, and recoveries.
• Reconciliations: Perform monthly site-wise Bank Reconciliations (BRS), Vendor ledger scrubbing, and Material Reconciliation (matching site consumption with GRN and purchase orders).
• Inventory Oversight: Monitor site-level inventory levels and coordinate with site supervisors for monthly stock-taking.

2. Financial Reporting & MIS

• Work-in-Progress (WIP): Accurate accounting of WIP and Revenue Recognition based on the Percentage of Completion Method (POCM) or AS-7/Ind AS 115.
• Cash Flow Management: Prepare project-specific cash flow forecasts to ensure timely availability of funds for site operations and payroll.
• Monthly Closures: Lead the month-end closing for all business units and prepare site-wise Profitability Reports.

3. Statutory Compliance & Taxation

• GST in Construction: Manage complex GST implications (Input Tax Credit on works contracts, RCM on unregistered purchases, and GST on JDA/landlord shares).
• Direct Tax & TDS: Ensure accurate TDS deductions under Section 194C (Contractors) and 194J (Professionals). Manage Labor Cess and Professional Tax (PT) filings.
• Audit Coordination: Facilitate Statutory, Internal, and Tax Audits by providing project-wise documentation and verification of measurement books (MB).

4. Systems & Internal Controls

• Tally Management: Ensure all vouchers are tagged to specific Cost Centers (Projects) in Tally Prime for accurate reporting.
• Asset Management: Track movement of high-value construction machinery and equipment across different project sites.

Candidate Profile

• Education: B. Com/M. Com/MBA Finance. Inter-CA or Inter-CMA candidates are preferred.
• Technical Skills:
• Expertise in Tally Prime and advanced MS Excel (for complex cost sheets).
• Familiarity with RERA (Real Estate Regulatory Authority) compliance is a significant advantage.
• Experience: 5–8 years in a Construction or Infrastructure firm would be a plus.