Yes, you are right that the current compilation has not generated the libphp5.so, bcoz i did is

./configure
make && make install

which has not created any libphp5.so file.

So i tried doing,
./configure --with-apxs

I believe this is the way to create the libphp5.so ? Am i right in saying this ??

And while doing make i am facing the following error ?
make: *** [sapi/apache2handler/mod_php5.lo] Error 1

I searched, and tried hard to rectify the error and no progress in it.

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Actually i have Debian Etch, where there is no package for the php 5.2.9 so i am installing from source which is making these issues ... Please help me solving the above issue, and guide me in installing 5.2.9 in Debian Etch 3.0 .

Any help is appreciated !