In a heavy saucepan, melt butter over medium heat. Stir in the flour.
Stir in the water, tomato paste, bouillon granules, and sugar. Cook and stir until bubbly. Cook and stir for 2 minutes more.
Stir in the diced tomato and the cream; heat through. Serve each bowl topped with shredded basil and croutons or popcorn. Makes 4 side-dish servings.