CORPORATE PRESENTATION MARCH

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1 CORPORATE PRESENTATION MARCH

2 Index Sr. No Particulars Page No. 1 Company Overview 3 2 Roadmap so far 4 3 The IRB Group 5 4 Organization Structure 6 5 Major BOT Infrastructure Development Projects Mumbai Pune Project 7 6 Major BOT Infrastructure Development Projects Bharuch Surat Project 8 7 Major BOT Infrastructure Development Projects Surat Dahisar Project 9 8 Major BOT Infrastructure Development Projects Thane Ghodbunder Project 10 9 Major BOT Infrastructure Development Projects IRDP Kolhapur BOT Project Overview IRB s Market Share Breakup of Order Book Upcoming opportunities Recent Diversification Consolidated Financial Results as on March Quarterly Comparative of Consolidated toll revenue of Operational BOTs Comparative of BOT Toll Revenue for last three years Corporate Recognition 22 2

3 Company Overview IRB Group IRBIDL was incorporated in 1998, with strong inhouse integrated execution capabilities. The group has successfully executed numerous projects in the roads and highways sector, including improvement of National highways and remarkable sections in Golden Quadrilateral. IRB is a leading Toll Road operator in the country today. Focus Verticals Construction and development of Highway Infrastructure - Government contracts for rural and urban roads infrastructure projects. Development and Operation of BOT projects - Operate infrastructure asset during agreed concession period. - Maintain and manage asset for agreed concession period. - Revenue generation through charges, fees, tolls or annuities. - Ownership transferred back to government after the expiration of the concession period. Proposed real estate development - Proposed integrated township development of 1400 acres alongside the Mumbai-Pune Expressway. - Land acquisition of approximately 1250 acres completed. - Proposed acquisition of land reserves of 150 acres. Credentials Experts in road infrastructure projects on Build, Operate & Transfer (BOT) basis. The country s first ever BOT project (Thane Bhiwandi Bypass) was executed by the group. Total length of around 800 kms as BOT operator, being one of the largest BOT portfolio in the country IRB holds a market share of 7.56% on the Golden Quadrilateral. 3

4 Roadmap so far Further, acquisition of shares by IRB in IRBPL, IRB Infra, NKT, TGTRPL and MIPL (now wholly owned subsidiaries) Project of Integrated Road Development programme in Kolhapur city has been commenced Restructuring of IRB Group Companies 2007 IRB Infrastructure Developers was incorporated Completion of Pune Nashik project kms IRBPL was incorporated Paid Negative grant of Rs. 5,040 million to NHAI for Bharuch - Surat Completion of Thane Ghodbunder Project kms Successful launch of IRB s Initial Public Offering. (Raised Rs billion) Financial closure was achieved for Surat Dahisar project. Debt component tied up amounting to Rs mn 1995 Paid Upfront payment of Rs. 9,180 million to MSRDC for Mumbai Pune Project First venture in BOT (Thane Bhiwandi Bypass Phase 1 25 Kms) 4

5 The IRB Group IRB INFRASTRUCTURE DEVELOPERS LIMITED Roads 100% Modern Road Makers Pvt. Ltd. (MRM) (Engineering & Construction Arm) 100% Ideal Road Builders Pvt. Ltd. (IRBPL) Thane Bhiwandi Bypass BOT 25 kms Kaman Paygaon BOT* 22 kms SH 4 Real Estate 100% 100% 100% 1 100% 2 100% 3 100% 4 100% 5 100% 6 90% 100% 7 66% Aryan Toll Road Pvt. Ltd. (ATRPL) (Pune Solapur BOT) kms-nh 9) ATR Infrastructure Pvt. Ltd. (ATR Infra) (Pune Nashik BOT) km-nh 50 Mhaiskar Infrastructure Pvt. Ltd. (MIPL) (Mumbai Pune BOT) 206 kms MPEW & NH4 Thane Ghodbunder Toll Road Pvt. Ltd. (TGTRPL) (Thane Ghodbunder Toll Road BOT) kms IDAA Infrastructure Pvt. Ltd. (IDAA) (Bharuch Surat BOT) 65 kms NH 8 NKT Road & Toll Pvt. Ltd. (NKT) (Ahmednagar Karmala Tembhurni Road) 60 kms IRB Infrastructure Pvt. Ltd. (IRB Infra) (Bridge over Patalganga River-Kharpada BOT) 1.4 kms MMK Toll Road Pvt. Ltd. (MMK) (Mohol-Kurul-Kamati-Mandrup Road) 33 kms SH 149 IRB Surat Dahisar Tollway Private Limited ( IRBSDTPL) (Surat Dahisar Road ) 239 kms NH-8 IRB Kolhapur Integrated Road Development Company Pvt. Ltd. (IRBKIRDCPL) Integrated Road Development in the city of Kolhapur Aryan Infrastructure Investments Pvt. Ltd. (AIIPL) (Land Bank adjoining the MPEW) Notes: 1. The Company s 100% in MIPL is made up of the following: a) 74% held by IRB b) 26% held by IRBPL 2. The Company s 100% in TGTRPL is made up of the following: a) 74% held by IRB b) 26% held by IRBPL 3. The Company s 100% in IDAA is made up of the following: a) 53.29% held by IRB b) 10.81% held by ATRPL c) 23.75% held by ATR Infra d) 12.05% held by IRBPL 4. The Company s 100% in NKT is made up of the following: a) 53.33% held by IRB b) 46.67% held by IRBPL 5. The Company s 100% in IRB Infra is made up of the following: a) 80.15% held by IRB b) 19.85% held by IRBPL 6. The Company s 100% in MMK is made up of the following: a) 100% held by IRBPL 7. The Company s 100% in IRB Kolhapur Integrated Road Development Company Pvt. Ltd is made up of the following : a) 80 % by IRB b) 10 % by MRMPL c) 10 % by ATR Infra 5

Organization Structure Board of Directors Mr. Virendra D. Mhaiskar Chairman and Managing Director Mr. Dattatraya P. Mhaiskar Director Mrs. Deepali V. Mhaiskar Director Mr. Suresh G.

6 Organization Structure Board of Directors Mr. Virendra D. Mhaiskar Chairman and Managing Director Mr. Dattatraya P. Mhaiskar Director Mrs. Deepali V. Mhaiskar Director Mr. Suresh G. Kelkar Director Mr. Bhalchandra K. Khare Independent Director Mr. Berjis M. Desai Independent Director Mr. Govind G. Desai Independent Director Mr. Chandrashekhar S. Kaptan Independent Director Mr. Rajkamal R. Bajaj Advisor to the Board Statutory Auditors S. R. Batliboi & co., Chartered Accountants Internal Auditors Suresh Surana & Associates, Chartered Accountants Mr. Mehul N. Patel Company Secretary Registrar and Transfer Agent Karvy Computershare Pvt. Ltd. Plot No. 17 to 24, Vittalrao Nagar Madhapur, Hyderabad Tel No : Fax No : Bankers to the Company Canara Bank Union Bank of India Indian Overseas Bank Indian Bank Bank of India IDBI Bank Andhra Bank Corporation Bank UCO Bank Bank of Baroda Bank of Maharashtra Registered Office IRB Complex, Chandivli Farm, Chandivli Village, Andheri ( East), Mumbai Tel No: Fax No : info@irb.co.in Website : 6

7 Major BOT Infrastructure Development Projects Mumbai Pune Express Highway & NH 4 Expand a stretch of NH 4 into four lanes and value additions to the Mumbai - Pune Expressway. Covered a cumulative 206 kms of road: 111 kms on NH 4 & 95 kms on the Mumbai - Pune Expressway. Granted a concession period of 15 years for both Mumbai-Pune Expressway & NH 4. Tolling at Mumbai-Pune Expressway began on August 10, Operate and maintain the facilities during the concession period. Total cost of this project is Rs million (including the upfront fee of Rs million paid to MSRDC). Aggregate value of the operation and maintenance contract for this project is Rs million. Funded through Equity Rs million. Term Loans Rs million. Internal Accruals Rs million. 7

Major BOT Infrastructure Development Projects Bharuch Surat Section of NH 8 Engaged to expand and improve the Bharuch Surat section of NH 8 in Gujarat on a BOT basis.

8 Major BOT Infrastructure Development Projects Bharuch Surat Section of NH 8 Engaged to expand and improve the Bharuch Surat section of NH 8 in Gujarat on a BOT basis. Required to expand specific sections of the NH 8 into a six lane highway. Also required to make improvements to the existing four lane highway. Commenced work on January 2, 2007 and work has so far progressed as per schedule. Tolling likely to commence in July 2009 Granted a concession period of 15 years ending on January 1, Total estimated cost is Rs million (including an upfront fee to the NHAI of Rs. 5,040 million). Financial closure was achieved in December 2006 Funded through Equity Rs million. Term Loans Rs million. 8

Major BOT Infrastructure Development Projects Surat Dahisar Section NH 8 Engaged to expand and improve the Surat-Dahisar section of NH 8 on BOT basis from the existing 4 to 6 lane for a total length

9 Major BOT Infrastructure Development Projects Surat Dahisar Section NH 8 Engaged to expand and improve the Surat-Dahisar section of NH 8 on BOT basis from the existing 4 to 6 lane for a total length of 240 kms. Granted concession period is 12 years including the construction period of 30 months. Construction of 25 flyovers over various junctions. Concession Agreement signed on 30th April Financial closure achieved in January 2009 Tolling is started from February 20,2009 Revenue share of 38% to be given to NHAI for the first year and will be increased by 1% year on year. Total project cost estimated at Rs billion. Equity & internal accruals Rs billion. Debt Rs billion. 9

Major BOT Infrastructure Development Projects Thane Ghodbunder Section connecting NH8 with NH4 & NH3 Engaged to improve the Thane-Ghodbunder section connecting NH 8 with NH 4 and NH3 for a total

10 Major BOT Infrastructure Development Projects Thane Ghodbunder Section connecting NH8 with NH4 & NH3 Engaged to improve the Thane-Ghodbunder section connecting NH 8 with NH 4 and NH3 for a total length of kms. Granted a concession period of 15 years starting from June 2007 with tolling rights. Scope of work includes improvement, operation & maintenance of the stretch during the concession period. Provided concrete pavement for 4 out of the existing 6 lane road for a length of kms; and 6 out of the existing 10 lane road for a length of kms. Executed 4 nos. of junction improvements, provided 80 nos. of utility ducts & 31 nos. of bus bays. Total cost of the project is Rs million. Funded through Equity Rs million. Debt Rs million. Internal Accruals Rs million. 10

Major BOT Infrastructure Development Projects Integrated Road Development Programme (IRDP ) in the city of Kolhapur First ever Urban Infrastructure project on BOT basis in India was awarded to IRB.

11 Major BOT Infrastructure Development Projects Integrated Road Development Programme (IRDP ) in the city of Kolhapur First ever Urban Infrastructure project on BOT basis in India was awarded to IRB. Granted a concession period of 30 years. Construction activity has commenced from January 9, 2009 Total cost of the project is estimated to be approximately around Rs billion. All 9 entry points to be tolled post substantial completion of construction. The salient aspects of this Kolhapur IRDP are:- Residents of the city of Kolhapur plying within the city limits need not pay any toll charge to use the roads. Only those vehicles entering or leaving the city will be paying the toll. In addition to the concession period, IRB Infrastructure Developers Ltd. enjoy the following benefits:- Commercial plot admeasuring 30,000 square meters allotted to the company. Lease period of this land will be 99 years. 11

12 Overview of IRB s Market Share Overall Market IRB s Market Share 12

13 Break up of Order Book Order book composition Amount in Rs. Mn BOT projects in O&M phase 25,774 Funded Projects 2,742 Order Book (as on March ) 5% EPC in ongoing BOT Project 30,462 Total 58,978 51% 44% Funded projects BOT Projects in O&M phase EPC in ongoing BOT project 13

14 Upcoming Opportunities for IRB Project Cost Breakup Amount in Crores Sr. No. Name of the Client RFP Stage RFQ Stage 1 NHAI Projects - Phase III 5, , NHAI Projects - Phase V NHAI Projects - OMT basis GSRDC Projects Government of Rajasthan Projects 3, , , MSRDC Projects 2, Maharashtra PWD Projects 1, MIDC Projects Total 13, ,

15 Upcoming Opportunities for IRB Amount in Crores Sr. No. Name of the Project State N.H. Length RFP Stage RFQ Stage National Highways Authority of India NHAI PHASE III 1 Four laning of NH-4A from Goa / Karnataka Border Km 84/000 ( Desgin ch. Km Goa 4A /000) to Panaji - Goa Km 153/070 ( Design Ch. 149/070) in the state of Goa. 2 Four laning of Pune Solapur ( PKG - II) from Km to Km Maharashtra Four laning of Talegaon - Amravati from Km 100/00 to 166/425 Maharashtra Four laning of Rohtak - Panipat Haryana 71 A /6 Laning of Maharashtra-Goa border to Panaji to Karanataka-Goa border Maharashtra, Goa , /6 laning of Karnataka-Goa border to Belgaum Karnataka 4A /6 laning of Kandla-Mundra Port section Gujarat 8A , laning of Ahmedabad to Godhra section Gujarat , laning of Godhra to Gujarat-Madhya Pradesh border section Gujarat laning of Jaipur Tonk Deoli Section of NH-12 in Rajasthan on BOT Rajasthan , /6 Laning of Amritsar - Pathankot section of NH -15 from Km to Km Punjab in the State of Punjab on BOT Basis 13 Madhya Pradesh / Maharashtra Border - Nagpur Section of NH - 7 from Km 652( New km ) to Km including Kamptee - Kanhan and Nagpur bypass in the state of Maharashtra. Package No. NS-1/BOT/MH) Maharashtra , Widening existing 2 lane highway to 4/6 lane with paved shoulders on BOT = Tirupathi - Tiruthani - Chennai section from Km 274/800 to 341/600 in the state of Andhra Pradesh and Km 0/00 ti 59/600 in the state of Tamilnadu Andhra Pradesh & Tamil Nadu , ,

16 Upcoming Opportunities for IRB Amount in Crores Sr. No. Name of the Project State N.H. Length RFP Stage RFQ Stage National Highways Authority of India NHAI PHASE V 15 Six laning of Pune Satara Maharashtra , Six laning of Udaipur Ahmedabad Maharashtra , Six laning of Samakhiyali Gandhidham Maharashtra 8B Six laning of Satara Kagal on DBFOT Maharashtra , Six laning of Kishangarh Udaipur section ( Km to Km ) Rajasthan 79 A, , , , OMT 20 Jhansi Kota on OMT basis Rajasthan /UP Swaroopgunj Udaipur on OMT Basis Rajasthan 14 / Madurai Tirunnalveli on OMT Basis Tamil Nadu Kota Chittorgarh on OMT basis Rajasthan Palanpur Radhanpur & Radhanpur Samkhiyali Gujarat 14 & Porbunder Bhiladi Jetpur Gujarat 8B Total A 9, , Gujarat State Road Development Corporation Ltd GSRDC 26 Improvement and widening of Bhuj BhachauRoad(SH 42), Km 0/00 to 77/00 in the state of Gujarat SH Gujarat on BOT basis 27 Improvement and widening of Nakhatrana Dayapar Panendro Road in the state of Gujarat Gujarat SH 42 & MDR on BOT basis 28 Four laning of Sarkhej Vataman Bhavnagar Road on BOT in Gujarat Stage 2 Gujarat Total B , Government of Rajasthan 29 Modernisation and Computerisation of Border Check Posts at 13 (thirteen) locations in the state of Rajasthan on BOT basis Rajasthan Total C

17 Upcoming Opportunities for IRB Amount in Crores Sr. No. Name of the Project State N.H. Length RFP Stage RFQ Stage Maharashtra State Road Development Corporation Ltd MSRDC 30 Securitization of Mumbai Entry Points and Widening od Sion Panvel Highway on Maharashtra SH 25 2, BOT Basis. 31 Construction of new network of roads and bridges in and around Baramati city on BOT Basis Maharashtra Total D 2, Maharashtra PWD 32 4 laning of Shiroli (Kolhapur) to Sangli section of Shiroli Ankali (MSH no 3) Km Maharashtra SH to and Ankal Sangli (SH 75) Km to on BOT. 33 Four laning of Talegaon Chakan Shikarpur Nhavra road and Shirur Nhavra kedgaon Chouphula road Maharashtra SH Four laning of Manor Wada Bhiwandi road on BOT Maharashtra SH Four laning of Themburni Kurduwadi Barshi Yedshi road on BOT Maharashtra SH Four laning of Mohol Mandrup Kamathi Road on BOT Maharashtra SH Total E Maharashtra Industrial development Corporation MIDC 37 Development of Sindhudurg Airport on BOT Maharashtra Airport Total F TOTAL = A+B+C+D+E+F 13, , RFP stands for Request for Proposal RFQ stands for Request for Qualification 17

18 Recent Diversifications The Company intends to develop Integrated township alongside the Mumbai Pune Expressway. Land acquisition of approximately 1250 acres completed and proposed to acquire the balance acres in next 6 8 months. The Company has received the permission u/s 63 1A(ii) of Mumbai Tenancy and Agricultural Land Act 1946 and its further amendments from the Development Commissioner in April 2009 to purchase acres of land and to establish integrated township. 18

19 Consolidated Financial Results Consolidated Profit and Loss Account for the year ended March 31, 2009 March 2009 (Quarter ) March 2009 March 2008 Particulars Construction Total All Segments BOT Segment Total All Segments Segment Construction Segment BOT Segment Total Rs. In crores Amount % Amount % Amount % Amount % Amount % Amount % Amount % Total Income , Earnings before interest, tax and depreciation Financial Expenses Depreciation and Amortisation Profit Before Tax Total Tax Expenses Profit after Tax Less: Minority Interest (1.32) (0.40) 0.00 (1.32) (1.03) (1.32) (0.13) 0.00 (1.32) 0.29 (12.64) (1.61) Profit after Minority Interest

20 Quarterly Comparative of Consolidated toll revenue of Operational BOTs Rs.in Lacs Quarter % Rise Jun 9, , % Sept 8, , % Dec 9, , % Mar 9, , % Total 36, , , , , , , , , , Jun Sept Dec Mar 20

21 Comparative of BOT Toll Revenue for last three years Rs. In Lacs Sr. No. Name of the Project Thane Bhiwandi Bypass 4 Lane BOT Project 2, , , Bhiwandi Wada BOT Project # Kaman Paygaon BOT Project Khambatki Ghat BOT Project 1, , , Kharpada Bridge BOT Project Nagar Karmala Tembhurni BOT Project , , Mohol Mandrup Kamtee BOT Project Pune Solapur BOT Project 1, , , Pune Nashik BOT Project 1, , , Mumbai Pune BOT Project * 17, , , Thane Ghodbunder BOT Project 2, , , Surat Dahisar BOT Project 3, Total 28, , , * In FY Revenue from NH 4 phase is from the date of project commission i.e from Sept 2006 to March # Concession Period of Bhiwandi Wada BOT Project ended on 22nd September 2008 Surat Dashisar Project Commissioned on 20th February

Corporate Recognition IRB has been awarded CNBC TV 18 Essar Steel Infrastructure Excellence Award in the Highways & Flyovers category for Mumbai Pune section of National Highways (NH 4).

This was the first and biggest Infrastructure Awards concept in India.

22 Corporate Recognition IRB has been awarded CNBC TV 18 Essar Steel Infrastructure Excellence Award in the Highways & Flyovers category for Mumbai Pune section of National Highways (NH 4). This award was in recognition of the high quality work implemented on the development and maintenance of the Mumbai Pune section of NH 4. This was the first and biggest Infrastructure Awards concept in India. The Awards have been instituted to recognize and felicitate Infrastructure Companies for excellence and strategic initiatives in the field of construction. A rigorous evaluation program was designed to select the best and the most sustainable value creator amongst infrastructure projects in categories like Highways & Flyovers, Railways, Airports, Ports, Energy & Power, Oil & Gas, Telecom and Urban Infrastructure. Mr. Virendra D. Mhaiskar, CMD of IRB has been honored by Navshakti, the leading Marathi Free Press Journal Group on their 50 th Golden Jubilee year celebration for making significant contribution to the national life. The Board of Jury, consisting of many distinguished persons from different walks of life, have nominated name of Mr. Virendra D. Mhaiskar, CMD 22

23 Note of Thanks

PPP Days 2010 PPPs Lessons from the Last 18 Months

PPP Days 2010 PPPs Lessons from the Last 18 Months Rajiv B Lall March 22, 2010 1 Private Sector Participation (PSP) in India Works & Services Contracts Management Contracts Operation Concessions Build