Concept:

Forward Bias: When the p-type side of the diode is connected to a higher potential than the n-type side, the diode is said to be forward-biased i.e., ON
Reverse Bias: When the case is opposite and n-type side is kept at a higher potential than the p-type side i.e., OFF
Analysis:
At positive pulse, D1 is ON, D2 is OFF and D3 is OFF.
and in the negative half cycle, D1 is OFF and D2 and D3 are ON. The circuit acts as a half-wave rectifier.
The output of the half-wave rectifier circuit will be:
=πVm
For positive pulse:
V1=2πVm,;V2=2πVm
V1=2ππ,;V2=2ππ
For negative pulse, D1 is OFF, D2 is ON and D3 is ON. Hence resister across D3 gets short-circuited. total voltage appears across the first resistor.
V1=π−π,;V2=0
⇒V1=2ππ+(π−π)=−0.5;V
V2=2ππ+0=0.5;V