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Confidential 0 Corporate Presentation February 2011.

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Presentation on theme: "Confidential 0 Corporate Presentation February 2011."— Presentation transcript:

1 Confidential 0 Corporate Presentation February 2011

2 Confidential 1 Table of Contents Company Overview02 Business Strategy15 Order Book16 Global Strategy17 Industry Outlook20 Key Highlights21 Subsidiaries & Joint Ventures22 Appendix Financial Highlights 24 1 2 3 4 5 6 7 8

3 Confidential 2 Company Overview Pratibha Industries was established as a proprietory firm by Mr. Ajit B. Kulkarni to capture a share in the upcoming Infrastructure Industry in India Pratibha Industries Ltd. (PIL) was incorporated in 1995 and it took over Pratibha Industries the partnership firm in 1999 Today PIL is a well established, and the only listed infrastructure company with a backward integration into manufacturing of saw pipes and a proven track record of delivering complex infrastructure projects since 2 decades PIL’s core expertise is in the areas of water supply and environmental engineering, urban infrastructure, tunnels, high rises, airports, surface transport, roads and manufacturing saw pipes. Our Company operates on various models such as BOT, PPP Projects, turnkey projects etc. Proven track record of 20+ completed major projects and 40+ ongoing projects with an order book of INR 42000 mn in Infrastructure and approximately INR 1,000 mn in saw pipes division as on Dec 31, 2010. Gross revenue of INR 10,134 mn (FY 2010) with a revenue CAGR of 50% (FY 2007 – 2010) with a PAT of INR 565 mn for the same period. PIL is an ISO 9001:2000 certified by Moody’s and the quality management system of the saw pipe manufacturing facility is certified by the American Petroleum Institute ISO-14001:2004 certification for Environment Management System and OHSAS 18001:2007 certification for Occupation Hazard and Safety Management Systems Winner in the ‘Urban Infrastructure’ category for 24X7 water supply scheme for Navi Mumbai – Essar Steel Infrastructure Excellence Awards, 2010 Company Overview

4 Confidential Company Structure 3 Business Units BU1 – Water, Waste Water, Environmental Engineering and Special Projects Integrated Water Projects Reservoirs Sewerage Plants Water Treatment Saw Pipes BU2 – Urban Infra and Surface Transport Railway Stations High Rises Airport Terminals Malls Water Projects Oil & Gas Recyclenation Plants Water Management Distribution Systems Shareholding Pattern Major Foreign Institutional InvestorsNo. of Shares Merrill Lynch Capital Markets Espana S.A. S.V.3731029 India Investment Partners Limited A/c. ICG Q Limited1055108 Warhol Limited (Chrys Capital)6097561 Cresta Fund Ltd3753512 Van Dyck (Chrys Capital)3804348 Surface Transport

5 Confidential 4 Milestones Entered construction business of public commercial utilities - Railway Stations. Entered Road Construction Business Took over the running business of partnership firm – Pratibha Industries Awarded a contract by MJP in Water Supply Management Revenues crossed INR 8000 Mn Set up (PPP) Public- Private Partnership Division QIP of INR 607 Mn Commissioning of Saw Pipe Division Listed on BSE and NSE (IPO subscribed 26 times) Enter in the Construction of Modern Buildings (i.e.Malls, Offices, Residential Towers) 1995 2004 2001 1999 2007 2006 2009 Incorporation of our Company Took over Teknoworks India – a mechanical engineering firm – to provide backward integration ISO 9001: 2000 certification 2010 QIP/Placement of Rs.150 crs and in Dec’10 secured maiden international order worth Rs. 352 crs from Dubai.

6 Confidential Our Key Strengths Operational capability in different types of infrastructure projects Experienced management team with proven execution capabilities Increasing and diversified order book Large fleet of owned machineries and equipments Geographical benefits Stellar financial performance over a period of time generating value for shareholders 5

7 Confidential 6 Experienced Management Team with Proven Execution Capabilities Executive Directors Non-Executive Directors Board of Directors Mrs. Usha B. KulkarniChairperson Mr. Ajit B. KulkarniManaging Director Mr. Vinayak B. KulkarniWhole Time Director Mr. Rohit KatyalWhole Time Director Mr. Awinash M. ArondekarIndependent Director Mr. Shrikant T. GadreIndependent Director Mr. V.B. ParulekarIndependent Director Dr. S.L. DhingraIndependent Director Mr. V. SivakumaranIndependent Director

8 Confidential 7 Strong Financial Performance CAGR FY07 – FY10: 40% CAGR FY07 – FY10 : 50% CAGR FY07 – FY10 : 57% RevenueEBIDTA Business Wise Break - upPAT

9 Confidential Nine Months Financial Performance ending on 31.12.2010 Profit & LossAmt. (Rs. In million) Income From Operations8836.88 Operating Expenses7570.02 EBITDA1266.86 Depreciation126.50 Financial Charges514.23 PBT626.13 PAT440.22 8

10 Confidential 9 Mass Housing Road Construction Water Supply Infrastructure Saw Pipes Public Private Partnerships Urban Infrastructure & Surface Transport Water Supply Management & Environmental Engineering Infrastructure Business: 2002Business: 2011 Business Matrix PIL has grown from a water supply and construction company to an integrated infrastructure company

11 Confidential 10 BU1 – Water, Waste Water, Environmental Engineering and Special Projects BU1 – Water & Environmental Engineering Business Verticals PIL undertakes fully integrated water supply management and environmental engineering projects Overview Revenue – BU1 Our Company covers the entire gamut of the Water Supply system from Pipelines, Sewerage Plants, Reservoirs, Water Treatment, Recyclenation Plants, Water Management, Distribution Systems, Integrated Water Projects to Tunnels Implement projects from designing to construction to maintenance We execute these projects on Annuity/Deferred and on cash contract basis and BOT all over India Some of the prominent projects executed in this segment are NMMC Pipeline, Sarita Vihar Water Supply, Barve Ambernath Pipeline, Indore Water Supply, Gujarat Water Supply Gujarat Water Supply BU2- Urban Infrastructure & Surface Transport Saw Pipes

12 Confidential 11 BU2- Urban Infrastructure and Surface Transport Executed prominent projects for government and private sector Overview Bandra Terminus Revenue – Urban Infrastructure and Surface Transport This business vertical includes constructing airport terminals, railway stations, high end residential and commercial high rises, malls, city roads, flyover and bridges for third parties Tie-ups with vendors to provide complex custom built structures We cater to private as well as government entities Planning to bid for larger sized projects on stand alone or through JV’s for NHAI and other authorized agencies Some of the prominent projects undertaken by us include Mumbai, Delhi and Amritsar Airport, Airoli and Ghansoli Railway Stations, Nirmal Lifestyle Mall, Lanco Mall, Green Building Commercial, BKC, Imperial Height Building at Andheri, Pune Solapur Highway Road, Sangamwadi Bridge, Katraj Road and Bibewadi to Kondhwa Road etc Mumbai Airport, Mumbai Mumbai Airport, Arrival Terminal Business Verticals BU2- Urban Infrastructure & Surface Transport Saw Pipes BU1 – Water & Environmental Engineering

13 Confidential 12 Saw Pipes Our Company started the saw pipes division in 2007 as a backward integration for water management projects We have an installed pipe-forming capacity of 90,000 MTPA and a 3LP coating division with a capacity of 1.8 mn. sq. mtrs. per annum Our HSAW pipes can be used in the water supply management projects and oil and gas transmission Our Company has obtained API 5L certification from ‘American Petroleum Institute and is an approved supplier of gas pipes to GAIL We plan to tap export markets such as Turkey, Oman & Middle East Saw Pipes are used in the water supply management segment as well as in oil and gas transmission Overview Hydraulic Piling Rig Concrete Boom Placer and Piling Rig Revenue – Saw Pipes Saw Pipe Coating Division, Wada Business Verticals BU2- Urban Infrastructure & Surface Transport Saw Pipes BU1 – Water & Environmental Engineering

14 Confidential 13 Some of our Prestigious Completed Projects Use of innovative technology to complete complex structures

15 Confidential 14 Projects Under Execution Airports, Tunnels, Pipelines, High Rises Projects undertaken across the country

16 Confidential 15 Business Strategy Emerge as a leader Drive Revenues and Margin Expansion Enter new niches in EPC Pursue overseas opportunities in existing niches Develop diversified PPP portfolio in core niches of Water Supply & Urban Development Develop Proprietary Skill Sets through R & D, Alliances and Continuous Human Resources Development - creating Sustainable Competitive Advantage Leverage Leadership in Water and Urban Infrastructure Segments to maintain a robust, high margin core order book

17 Confidential 16 Strong Order Book of Infrastructure & Construction (As on Dec 31, 2010) Business Verticals Water and Environment al Engineering Urban Infra RoadTotal Outstanding Work (INR in Mn) 2576716,25536042,382 Business VerticalsOutstanding Work (INR in Mn) Government Contracts33,076 Private Contracts9,304 Total42,382 Business Verticals Outstanding Work (INR. in Mn) Maharashtra15,531 Rest of India19,929 Dubai6,922 Total42,382 Our Company has a strong order book, with an order book to revenue (FY10) ratio of 3.5x We have diversified our order book globally with the maiden order from Dubai as well as have strong foothold in India across 12 states with less than 50% in Maharashtra. Growth in Order BookBusiness Wise Break – up Client Wise Break - up Geographical Break – up

18 Confidential Global Strategy Secured maiden overseas order of Rs. 352 crores from Dubai Electric & Water Authority for construction of Al-Ghafat water reservoir. Pratibha is planning to expand its global operations & hopes to secure more orders in middle east countries like Saudi Arabia, Oman, Qatar, etc. Capitalise on its strong track record in executing complex infrastructure projects on EPC basis in water supply and Urban infrastructure sectors 17

19 Confidential 18 Urban Infrastructure Key Customers Surface Transport Saw Pipes Water Supply Management Prominent names in the industry choose to BUILD their growth with Pratibha Indore Municipal Corporation J & K Economic Reconstruction Agency Delhi Jal Board Karnataka Urban Water Supply & Drainage Board MMRDA MSRDC Pune Municipal Corporation Indore Development Authority Petron Civil Engineering GAIL Kalpataru Power Transmission National Buildings Construction Corporation Delhi Metro Rail Corporation Airport Authority of India Public Health Engineering Department, Rajasthan Gujarat Water Supply and Sewerage Board Jabalpur Municipal Corporation Navi Mumbai Municipal Corporation Municipal Corporation of Greater Mumbai Indian Oil Larsen & Toubro

20 Confidential 19 Pan India Presence 1 3 5 6 7 8 9 11 12 10 6) Gujarat ● New International Terminal Building at SVPI Airport, Ahmedabad 10)Uttar Pradesh ● Water Treatment Plant, Meerut 11) Bihar ● Construction of ESIC Medical College, Patna 4) Delhi ● Expansion of Delhi International Airport ● Laying of Pipeline for Delhi Jal Board ● Muti Level Parking in New Friends Colony and New Delhi Railway Station ● High end commercial complex and car park on BOOT basis for DMRC’s City Airport Terminal at New Delhi Railway Station 5) Rajasthan ● Water Supply Management project at Nagaur 1) Jammu & Kashmir ● Nisphat Doodhganga Water Supply Scheme PIL has spread its wings across India and remains the preferred partner for urban areas 9) Madhya Pradesh ● Urban Water Supply & Environmental Improvement Project ● Construction of Link Road, Indore ● Clear water raising mains and feeder mains 8) Karnataka ● Water Supply & Sewerage Project, Bangalore 7) Maharashtra ● Andheri-Kurla Link Road ● Imperial Heights Building, Oshiwara ● C- 70 Building, BKC ● Tunnel from Malabar Hill to Cross Maidan ● Irla Pumping Station ● Water Pumping Station at Bhandup ● High Rise Residential Tower, Borivali 12) Assam ● Construction of Administrative Block, Lepetkata, Assam 3) Haryana ● Designing, Constructing, Testing, Commissioning of Water works at Chadu Budhera, Gurgaon, 4 2) Punjab ● Expansion of Amritsar airport 2

21 Confidential 20 Industry Outlook - Infrastructure Government of India has made a provision of Investment of USD 400-500 bn (2.3x the estimated expenditure in the 10th plan) in the infrastructure sector during the 11 th Five Year Plan This is to be achieved through a combination of public investment, public-private partnerships (PPP) and exclusive private investment, wherever feasible USD bn @ Rs. 48/$Sectoral share (%) Sectors11 th plan11 th Plan Roads and bridges 65.415.3% Railways (incl. MRTS) 54.512.7% Irrigation (incl. WD) 52.812.3% Water supply and sanitation 29.97.0% Airports6.51.5% Total 428.4100.0% Mega Infrastructure Outlay - IndiaSpending on Infrastructure in 11 th Five Year Plan Infrastructure is the backbone of a growing India Water sector in India grew 18 - 20% in the past three years There is need to create infrastructure to ensure sustainable water supply for the country’s agricultural, industrial and domestic use The scope in the sector has extended to distribution systems, water treatment, waste water treatment, recycling plants, sewerage plants and water management 11 th Five Year Plan estimates an investment of INR 1.4 trillion in the sector and aims to provide drinking water, sanitation and waste management to 100% of the urban population Water Supply - Environment Engineering - IndiaUrban Infrastructure India has INR 300 mn urban residents comprising about 30% of the population and contributing over 60% to GDP The JNNURM involves investment of INR 1.2 trillion over FY 05 -12 (Maharashtra’s share is 10%) Opportunities in tier II category; Bangalore, Chennai, Hyderabad and Jaipur are expected to have PPP opportunities in the short term in a large way The government plans to spend INR 300 bn on the airports sector during the 11 th Five-Year-Plan. Of this, INR 140 Bn is slated for upgrading the 35 non-metro airports and modernizing aeronautical facilities 80% of demand in the real estate sector arises from the housing segment. The affordable housing sub-segments have been on an uptrend since May’ 09 Surface Transport The NHAI plans to award orders for 36,500 km in the next three years amounting to INR 2.6 trillion Most road projects to be developed would be through a public- private partnership (PPP) on the BOT – annuity or toll mode Source: 11 th Five Year Plan, Planning Commission Report

22 Confidential 21 Key Highlights Increasing and diversified order book Proven execution capabilities since 2 decades Operate with margins better then the industry Huge macro potential to ride upon Large fleet of owned machineries Reputed client base - Government and Private Experienced management team

23 Confidential 22 Our Subsidiaries & Joint Ventures Wholly Owned SubsidiariesJoint Ventures/SPVs Pratibha Infrastructure Pvt. Ltd.Pratibha China State JV Prime Infrapark Private Ltd.Pratibha Ostu Stettin JV Patel Pratibha JV Gammon Pratibha JV Niraj Pratibha JV ITD Pratibha Consortium Pratibha SMS JV Pratibha GINKJI Consortium KBL PIL Consortium Unity Pratibha Consortium Unity Pratibha Multimedia JV Pratibha Pipes & Structural Consortium Pratibha JV Pratibha Al – Ambia JV Bhopal Sanchi Highways Pvt. Ltd.

24 Confidential Appendices

25 Confidential Balance Sheet (INR in Mn.)FY 2007FY 2008FY 2009FY 2010 Equity Share Capital143167 Reserves and Surplus8061,6722,0802,587 Loan Funds1,3631,3282,4844,347 Net Fixed Assets2149211,4552,890 Current Assets2,6734,3785,6188,279 Current Liabilities8783,2832,9774,103 Profit & Loss Account (INR in Mn.)FY 2007FY 2008FY 2009FY 2010 Income from Operation3,0045,6518,05810,072 Growth 72.5%88.1%42.6%25.0% Operating Expenses2,6374,9917,1428,643 EBIDTA3676609161,429 Margin 12.2%11.7%11.4%14.2% Other Income415063 Depreciation113671140 EBIT359624895851 Financial Charges123223341522 PBT236402554766 Margin 7.8%7.1%6.9%7.6% Tax3259107201 PAT204343447565 Margin 6.8%6.1%5.6% Financial Highlights (Consolidated) Income from Operation (FY 2007–10) CAGR of 50% EBIDTA (FY 2007–10) CAGR of 57% PAT (FY 2007–10) CAGR of 40% 24

26 Confidential 25 Disclaimer This Information Package is distributed by Pratibha Industries Ltd. on a strictly confidential basis for information only. This Information Package and the information and projections contained herein may not be disclosed, reproduced or used in whole or in part for any purpose whatsoever or furnished to any other persons without the express prior written permission of Pratibha Industries Ltd. This Information Package is distributed by Pratibha Industries Ltd. upon the express understanding that no information herein contained has been independently verified. Further, no representation or warranty expressed or implied is made nor is any responsibility of any kind accepted with respect to the completeness or accuracy of any information. Also, no representation or warranty, express or implied, is made that such information remains unchanged in any respect as of any date or dates after those stated herein with respect to matters concerning any statement made in this Information Package. This Information Package contains several forward looking statements and projections, and there is no express or implied warranty that such forward looking statements and /or projections would materialize or that Pratibha Industries Limited would achieve the same, wholly or in part or at all. All forward looking statements and projections are subject to changes and modifications (including the risk of discontinuation) based on several factors, both internal and external. No duty is owed to any person to update, from the date hereof, as regards any changes or modifications (including discontinuance) in projections and / or forward looking statements in this Information Package. Certain visual representations of properties under construction/ yet to be constructed herein are merely artists’ impressions. We cannot assure that the completed projects would resemble the artists’ impression. The charts and maps herein are merely indicative of what they depict, and may not necessarily be proportionate or to scale. Pratibha Industries Ltd and its directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied), projections and forward looking statements arising out of, contained in or derived from, or for any omissions from the Information Package. All recipients of the Information Package should make their own independent evaluations and should conduct their own investigation and analysis and should check the accuracy, reliability and completeness of the Information and obtain independent and specific advice from appropriate professional advisers, as they deem necessary. Where this Information Package summarizes the provisions of any other document, that summary should not be relied upon and the relevant documentation must be referred to for its full effect. For any further information / queries regarding this document please contact: Pratibha Industries Limited, Univeral Magistic, 13 th & 14 th Floor, Off. Eastern Express Highway, P.L. Lokhande Marg, Govandi,Mumbai – 400071.

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