Presentation by Jaiprakash Associates Limited CONFIDENTIAL | - - PowerPoint PPT Presentation

CONFIDENTIAL

CONFIDENTIAL | February 2008

Presentation by Jaiprakash Associates Limited

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CONFIDENTIAL

Disclaimer

This presentation contains statements that constitute “forward looking statements” including, without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to the Company’s future business developments and economic performance. All statements regarding the expected financial condition and results of operations, business, plans and prospects of the Company are forward-looking statements. These forward-looking statements include statements as to the Company’s business strategy, the Company’s revenue and profitability, planned projects and other matters discussed in this presentation regarding matters that are not historical fact. These forward-looking statements and any

• ther projections contained in this presentation (whether made by the Company or any third party)

involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or other projections. The Company undertakes no obligation to publicly update or revise any of the opinions or forward looking statements expressed in this presentation as a result of new information, future events or

• therwise.

Exchange Rate: 1 USD = 40 INR

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• 1. Company Overview

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… …

“To strive for excellence in every activity we undertake as we contribute in nation building through our participation in infrastructure sector of the country utilizing resources

• ptimally, while growing with human face.”

“To strive for excellence in every activity we undertake as we contribute in nation building through our participation in infrastructure sector of the country utilizing resources

• ptimally, while growing with human face.”

Jaypee Group At A Glance

Power Generation Real Estate & Expressways

Cement

Engineering & Construction

Largest Private Hydropower

Group

700MW operational 1000MW in execution (H.P.) 2525 MW in Arunachal (MoA) 720 MW in Meghalaya (MoA)

7 million tpa capacity

54.3% participation in 10th

Five year plan

Current Order

Book: US$ 3.09 Bn.

• 7.2x FY07 E&C

Revenue

3rd Largest Cement Group by 2010 with 25 MTPA capacity

Thermal Power

(2X500MW) at Sidhi (M.P.) under dev.

160 km Taj

Expressway from Noida to Agra

Real Estate Development

• Taj expressway: 400 Mn. sq feet
• Ganga expressway: Approx. 3.3 Bn. sq feet

1,047 km Ganga

Expressway from Noida to Ballia

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Jaiprakash Associates Limited (“JAL”)

Corporate Structure

Cement$ Cement$ Engineering, Construction & Real Estate Engineering, Construction & Real Estate 11 MTPA Cement Cement Subsidiaries & Joint Ventures Infrastructure & Hospitality Infrastructure & Hospitality Jaypee Hotels Limited Jaypee Infratech Limited#

72% 100%

400 MW 1000 MW BOO Power BOO Power

Jaiprakash Hydro Power Limited (Baspa-II Project) Jaiprakash Power Ventures Limited (Vishnuprayag Project) Jaypee Karcham Hydro Co. Limited (Karcham Wangtoo Project)

Transmission subsidiary - PGCIL

63.3% 80.56% 100%

74%

300 MW

$ Installed Capacity-19.5 MTPA # TAJ EXPRESSWAY

PROJECT

Coal Mining Coal Mining Joint Ventures with State Govt. For 1000 MW Thermal Power Market Cap. (4 Jan.’08) - JHPL: INR 6,731Crs (US$ 1.68 Bn.); JHL: INR 1405 Crs (US$ 351 Mn.) Market Cap. (4 Jan.’08) - JHPL: INR 6,731Crs (US$ 1.68 Bn.); JHL: INR 1405 Crs (US$ 351 Mn.) Himalayan Expressway Limited

100%

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• 2. Strong Financial Profile

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2.62* 284 (71) 434 (108) 747 (187) 2662 (665) FY07 (Apr- Dec) 3.59* 399 (100) 538 (134) 922 (230) 2928 (732) FY08 (Apr- Dec) 40% 49% 53% 31% 8.7% Change in % 13.61 279 (70) 404 (101) 794 (198) 3307 (827) FY06 37% 40% 24% 24% 10% Change in % 19.10 415 (104) 620 (155) 1040 (260) 3594 (898) FY07 PAT EPS (Rs) PBT Gross Revenue EBITDA Details

• Rs. in Crs (USD in Mn)

Strong Financial Performance – FY 2007-08 (Apr-Dec)

*On Equity Shares with a face value of Rs 2 each

7%#

• FY 2007

Rs 233 Million Amount recd by JAL from JHPL Rs 810 Million Amount recd by JAL from JPVL 12% Dividend Declared BY JPVL 7.5% Dividend Declared BY JHPL FY2008 Dividend Income from Hydropower Subsidiaries

# Received in FY 2008

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Financial Highlights of FY-07 Results

Gross Revenue (Rs. Crs.) Gross Revenue (Rs. Crs.)

2,908 3,307 3,594

FY05 FY06 FY07

EBITDA* (Rs. Crs.) EBITDA* (Rs. Crs.) PBT (Rs. Crs.) PBT (Rs. Crs.)

11.78 13.61 19.10

FY05 FY06 FY07

676 1,040 794

FY05 FY06 FY07

EPS (Rs) EPS (Rs)

329 404 620

FY05 FY06 FY07

27.3% CAGR (FY05-FY07) 37.3% CAGR (FY05-FY07) 24% CAGR (FY05-FY07) 11.1% CAGR (FY05-FY07) 727$ 827$ 898$ 260$ 198$ 169$ 82$ 101$ 155$

$ Figures in US $ Millions

Market Capitalisation of Rs. 56,340 Crs (USD 14.1 Bn.) on 4 Jan. ’08 Market Capitalisation of Rs. 56,340 Crs (USD 14.1 Bn.) on 4 Jan. ’08

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JAL – Projections

415 2,005 2007 2012 1,721 7,489 1,865 7,149 7 133 2007 2012

Rs Crores

(Mn USD)

E&C & Real Estate Cement

EBITDA Revenue PAT

Dividends 3,594 (898) 14,771 (3,692)

389 1,921 643 1,739 133 7 2007 2012

1040 (260) 3,793 (948) 415 (104) 2,005 (501)

Additional Dividend Income of approx. Rs 150 Crores p.a. would commence accruing from FY 13 onwards

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• Number of Shares outstanding was 1160.231 Mn of Rs 2 each as of 4 January 2008
• FCCB-I Conversion at USD 97.94 Mn out of USD 100 Mn as of 12 January 2008
• FCCB-II Conversion at EURO 135.56 Mn out of EURO 165 Mn as of 12 January 2008
• FCCB-III Conversion at USD 4.5 Mn out of USD 400 Mn as of 12 January 2008

Shareholding Pattern (Jan 4 ‘08) Shareholding Pattern (Jan 4 ‘08)

MF's/Banks 9.34% Promoters 44.98% FII's 25.94%

Public/PCB's

17.85%

Market Capitalisation (Rs. Crs) Market Capitalisation (Rs. Crs) 3,454 1,985 56,340 10,083

1-Apr-04 1-Apr-05 1-Apr-06 4-Jan-08

($ 496 Mn.) ($ 863 Mn.) ($ 2.5 Bn.)

($ 14.08 Bn.)

CAGR for 3 Years-140% 74% 191% 141%

Continuously Creating Shareholder Value

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• 3. Infrastructure and Real Estate

a) Leading Infrastructure Company in India b) 54% share in 10th Five year plan Hydropower Projects c) 160 km Expressway connecting Noida to Agra with 400 Million sq feet Real Estate Development d) 1,047 km Expressway connecting Noida to Ballia with 3.3 Billion sq feet Real Estate Development

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The Leading Infrastructure Company in India

N E P A L

BANGLADE SH

BHUTAN

Baghalihar I & II 900MW Omkareshwar 520MW Sardar Sarovar 1,450MW Karcham-Wangtoo 1,000MW

Alimineti Madhava Reddy Project (51 Km Long Tunnel)

Teesta V 510MW E&C Projects under execution Sidhi – Thermal Power 1000MW (2X500MW) Taj Expressway 160 km Zirakpur-Parwanoo Toll road- 27 km Roads& Real Estate Thermal Power

PROUD TO

PARTICIPATE IN:

Largest Concrete Dam

in India – Sardar Sarovar

Largest Rockfill Dam

in India – Tehri

Largest Underground

Powerhouse in India– Naptha-Jhakri

Second Largest

Surface Powerhouse in India – Indira-Sagar

PROUD TO

PARTICIPATE IN:

Largest Concrete Dam

in India – Sardar Sarovar

Largest Rockfill Dam

in India – Tehri

Largest Underground

Powerhouse in India– Naptha-Jhakri

Second Largest

Surface Powerhouse in India – Indira-Sagar Ganga Expressway at 1,047 km, the largest infrastructure project in the country at Rs 60,000 Crs (US$ 15 Bn) is to be executed by JAL Ganga Expressway at 1,047 km, the largest infrastructure project in the country at Rs 60,000 Crs (US$ 15 Bn) is to be executed by JAL

Jaypee Greens Real Estate

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1020

1020 Tala (Powerhouse)

10.

7880 4130 400 1250 300 300 1500 Total (MW) 1500

1500 Nathpa Jhakri hydro-electric project

6.

300

300 Chamera-II

3.

300

300 Baspa-II

1. 12. 10. 9. 8. 7. 5. 2.

BUILD-OWN-OPERATE Name of Project CONTRACTS WITH VARIOUS GOVERNMENT AGENCIES EPC CONTRACTS HYDROPOWER CAPACITY COMMISSIONED BY THE JAYPEE GROUP 1000

1000 Indira Sagar (Dam & Powerhouse)

250

250 Sardar Sarovar (Saddle Dam Complete)

2004 2005 1200

1200 Sardar Sarovar (Main Dam & Power House) Tehri (Rock-fill Dam & Spillway) Dul-Hasti (Dam, Powerhouse & HRT) Omkareshwar Vishnuprayag

1000

1000 400

2006

390 520

2007 400 Total (MW) 2003 2002 520 390

2002-2007 : 7880 MW added to the National Grid

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• JAL and Voith Siemens Consortium,

with JAL's Engineering Division being the Leader Narmada Hydroelectric Development Cop. Narmada 520 Omkareshwar, Madhya Pradesh NCC, Norway J&K State Power Development Corp. Chenab 600 Sawalkot, Jammu & Kashmir J&K State Power Development Corp. National Hydroelectric Power Corp. National Hydroelectric Power Corp. JAL's Engineering Division Chenab 900 Baglihar (Stage I and II), Jammu & Kashmir 300 480 Ravi Jhelum Consortium with SNC Lavalin / Acres Transnational, in which JAL's Engineering Division is the leader Skanska, Sweden Chamera-II, Himachal Pradesh Uri-I, Jammu & Kashmir PROJECT PROJECT

CAPACITY

(MW)

CAPACITY

(MW)

RIVER RIVER CLIENT CLIENT EXECUTION BY EXECUTION BY

Till March 2007, only five hydropower projects (2,800 MW) have been awarded in India on an EPC basis.

Three (1,720 MW) are being executed by JAL’s Engineering Division.

Chamera-II Project, one of the five EPC projects awarded, has been executed by JAL’s Engineering

Division (JV lead partner) six months ahead of schedule

Omkareshwar Project has been commissioned recently, three months ahead of schedule

Indian Hydropower Projects Executed on EPC Basis

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Jaypee Greens is developing India’s first “golf centric” real estate project in Greater Noida

Real Estate revenue recognition to begin from Q4 FY2008 Real Estate revenue recognition to begin from Q4 FY2008 8 Million square feet of premium real estate

development spread over 450 acres, the project integrates exclusive homes with golf course, landscaped parks and emerald greens.

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hole Greg Norman signature championship golf course, which is also India’s longest course at 7347 yards, 88 bunkers and 14 water bodies

60-acre nature reserve with theme parks A 200 room Boutique Spa Hotel in

collaboration with SIX SENSES by 2010

Real Estate: Jaypee Greens

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AGRA MATHURA

DISTRICT AGRA DISTRICT HATHRAS

SADABAD DISTRICT MATHURA

TAJ ECONOMIC ZONE

DISTRICT ALIGARH

INTERNATIONAL AIRPORT

HARYANA CHHATA TAHSIL

GAUTAM BUDH NAGAR GREATER NOIDA NOIDA

LAND FOR DEVELOPMENT AT 5 LOCATIONS TOTAL – 6250 ACRES TO BE DEVELOPED BY JAL GREATER NOIDA TO AGRA – TAJ EXPRESS TO BE DEVELOPED BY JAL NOIDA TO GREATER NOIDA EXPRESSWAY

• COMPLETED

LEGEND :

5 4 3 2 1

Taj Expressway Project

NEW DELHI 160 km long 6 Lane Access Controlled Expressway connecting Noida to Agra

Estimated cost: Rs. 6000 Crs. (US$ 1.50 Bn.) Rights to concessionaire for 36 years Ribbon development of 25 Million Sq Mtrs of land along the Expressway Five or more locations (one location either Noida or Greater Noida)- 90 year lease

160 km long 6 Lane Access Controlled Expressway connecting Noida to Agra

Estimated cost: Rs. 6000 Crs. (US$ 1.50 Bn.) Rights to concessionaire for 36 years Ribbon development of 25 Million Sq Mtrs of land along the Expressway Five or more locations (one location either Noida or Greater Noida)- 90 year lease

Taj Expressway has been hived off into a subsidiary Jaypee Infratech Ltd wef 1 Apr-07 Taj Expressway has been hived off into a subsidiary Jaypee Infratech Ltd wef 1 Apr-07

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1250 Mirzapur (20 km from Proposed International Airport – closer to Noida) 1250 Tappal (12 km from Proposed International Airport - closer to Agra) 1250 Agra 1250 625 600*

Area (Acres)

Dhankaur (Just Outside Greater Noida) NOIDA NOIDA

Proposed Locations

Taj Expressway Project – Land for Development * Land use plan approved for 600 Acres at NOIDA for 35 Million sq. ft. of real

estate development consisting of primarily:

• Residential –

63%

• Institutional –

9%

• Recreational – 12%
• Roads –

12%

• Commercial –

4%

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1,047 KM expressway in

Uttar Pradesh along the left bank of the river Ganga connecting Greater Noida to Ballia

35 year concession

period

Largest private sector

infrastructure project in India

Rights of development of an

estimated 30,000 acres of land along the Expressway

Estimated Cost

• Rs 60,000 crore

Estimated completion

period - 2 + 3 years

1,047 KM expressway in

Uttar Pradesh along the left bank of the river Ganga connecting Greater Noida to Ballia

35 year concession

period

Largest private sector

infrastructure project in India

Rights of development of an

estimated 30,000 acres of land along the Expressway

Estimated Cost

• Rs 60,000 crore

Estimated completion

period - 2 + 3 years

Ganga Expressway Project

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• 4. Power & Energy

a) Largest Private Sector Hydropower Developer b) Coal Block supported Thermal Power c) Transmission d) Presence in Wind Power and Oil&Gas Exploration

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5945 MW PORTFOLIO OF POWER PROJECTS

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Power Business at a glance

2003

• 300

300 Hydro Baspa-II 1 - 2015* TBD 250* 250* 500* Hydro Hirong 5- 2016* TBD 225* 225* 450* Hydro Kynshi Stage -II 6- TBD TBD CERs expected 3.35 Mn. CERs* 1.32 Mn. VERs VERs/ CERs 2014* 1000* 1025* 2025* Hydro Lower Siang 4- 2310 135* 500 200

• Merchant

Power (MW) 3635 135* 500 800 400 Regulated Tariff (MW) 5945 270* 1000 1000 400 Capacity (MW) Hydro Thermal Hydro Hydro Fuel 2006 Vishnuprayag 1- 2016* Umngot Stage -I 7- 3- 2- S.No TOTAL 2012* Jaypee Nigrie Thermal 2011* Karcham Wangtoo COD Project

* Expected * Expected

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Corporate Structure - Power Business

23%*

Jaiprakash Power Ventures Limited (400 MW-Hydro – in Operation) (1000 MW Thermal – Under Implementation)

55.36%* 89%* Meghalaya Projects (720 MW) Jaypee Powergrid Limited Arunachal Projects (2525 MW) 74%* JKHCL (1000 MW)

Jaiprakash Associates Limited (“JAL”)

*67.39% JHPL (300 MW) 63.3%

51%

* Post-IPO

PGCIL JAL

• Govt. of

Arunachal Pradesh

• Govt. of

Meghalya 26%* 44.64%* 11% 26%

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• 4. a) BOO plants

Largest hydropower developer in the private sector in India

FY-07 Generation: 1274MUs at

98.83% plant availability

Steady cash flows through the

PPA

• Revenues of Rs 335 Crs
• PAT of Rs 199 Crs

Jaiprakash Hydro Power Limited

300 MW Baspa II Project

Jaiprakash Power Ventures Ltd

400 MW Vishnuprayag Project

Jaypee Karcham Hydro Co. Ltd

1,000 MW Karcham Wangtoo Project

Himachal Pradesh Location US$ 1.68 billion Market Value US$ 123 million Equity Investment In operation since June 2003 Status Uttaranchal Location US$ 127 million Equity Investment In operation since

• Oct. ‘06

Status Himachal Pradesh Location US$ 420 million Equity Investment To be completed in 2011 Status Commissioned six months ahead

• f schedule -Savings of Rs 150

Crs

FY-07 generation: 951 MUs at

98.5% plant availability

Declared maiden dividend of 7.0%

in its first year of operation

Largest hydropower plant in the

world to be accredited for Carbon Credits – 1.32 Mn. Annual VERs

Entire debt for the project tied up

• n non-recourse basis.

US$ 187.5 million equity already

injected

PPA with PTC for 704MW of

power signed on 21st March 2006

20% of saleable power (176 MW)

will be sold on merchant power sale basis

Eligible for CDM Benefits

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One of the largest portfolio of hydropower projects under development in India

Run of the river projects Equity

participation by the Government

• f

Arunachal Pradesh to the extent of 11%

12%

free power for first 10 years; 15% subsequently (15.5% for Hirong)

2,025 MW Lower Siang Project 500 MW Hirong Project

Run of the river projects Equity

participation by the Government

• f

Meghalaya to the extent of 26%

12% free power for the entire term + 1% additional

for social development by State Govt.

450 MW Kynshi Project Location: Arunachal Pradesh Lease Period: 40 years Commissioning: 2014 Merchant Power: 50% Location: Arunachal Pradesh Lease Period: 40 years Commissioning: 2014 Merchant Power: 50% 270 MW Umngot Project Location: Arunachal Pradesh Lease Period: 40 years Commissioning: 2015 Merchant Power: 50% Location: Arunachal Pradesh Lease Period: 40 years Commissioning: 2015 Merchant Power: 50% Location: Meghalaya Lease Period: 40 years Commissioning: 2016 Merchant Power: 50% Location: Meghalaya Lease Period: 40 years Commissioning: 2016 Merchant Power: 50% Location: Meghalaya Lease Period: 40 years Commissioning: 2016 Merchant Power: 50% Location: Meghalaya Lease Period: 40 years Commissioning: 2016 Merchant Power: 50%

• 4. a) BOO plants

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1. Joint Venture Agreement with MP State Mining Corporation for Amelia (North) & Dongrital Coal Block with Expected reserves of appox 155 Mn T. 2. Total investment in coal mining ~ Rs 900 Crores 3. Output: 4.8 MTPA ( 2.4 MTPA for each coal block)

• 4. b) Coal Block Supported Thermal Power

1. 1000 MW (2X500 MW) with super critical technology boiler pit head based Thermal Power Generation Plant linked with Amelia (North) Coal Block and Dongrital Coal Block with an investment of appox. Rs. 5,000 Crores - Planned Commissioning: 2012 2. 50% Power to be sold on Merchant Power basis Coal Mining Thermal Power

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50 MW Wind Power Project in District Dhule in Maharashtra

Project to be commissioned in two phases: 28.25 MW in operation

• Balance capacity to be commissioned by

March ‘08 230 km transmission project to evacuate power from 1000 MW Karcham-Wangtoo project

Jaypee Powergrid Limited, a JV company

between JHPL and PGCIL, is executing the project – Estimated cost: Rs 1,000 Crs. Oil & Gas Exploration

Awarded onland block South Rewa under New

Exploration Licensing Policy VI in consortium with Prize Petroleum (subsidiary of national oil company Hindustan Petroleum Corporation Limited)

New Ventures: Energy Sector

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5. Prominent Cement Manufacturer

a) Largest player in Central India b) 25 MTPA capacity by 2010 with

• 250 MW captive power
• Captive coal block (in MP)

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Northern India 7.50 MTPA 30 MW Central India 14.20 MTPA 188 MW Western India 8.8 MTPA 90 MW

SAIL Satna & Bhilai Slag Cement Plant (2.2 MTPA) Chamba Cement Plant (2.5 MTPA) Jaypee Himachal Cement Complex (3.5 MTPA)

JAAGO Tanda (1 MTPA) JCBU Sadwakhurd (0.6 MTPA)

Jaypee Cement Complex Rewa (5.4 MTPA) UP Cement Project (3.0 MTPA)

Siddhi Cement Project Siddhi (2.0 MTPA)

Gujarat Jaypee Cement & Infrastructure Limited (2.4 MTPA)

JCGU Panipat (1.5 MTPA)

Gujarat Anjan Cement Project Bhuj (6.4 MTPA)

All India by 2011 11 Integrated Plants 8 Grinding Units 10 CPPs-308 MW (30.50 MTPA) All India by 2011 11 Integrated Plants 8 Grinding Units 10 CPPs-308 MW (30.50 MTPA)

25 MTPA Cement Capacity by 2010

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1163 5 88 MW 2 3 7.00 Jaypee (As on 31- 03-07) 8 5 2 4 3

• No. of Grinding

Units 3- 30.50 17.00 14.11 15.30 20.24 Installed Capacity (MTPA) 1- 738 6 97 MW 7 Ultra Tech

• 11

308 MW 10 Jaypee (By FY-11) 958 12 140 MW 17 ACC 10 7

• No. of Kilns

2- 6- 5- 4- SN 1051 1091 EBITDA (Rs per T) for July-Sep 07 7 6 In Plant Railway Siding 74 MW 199 MW Captive Power Plants (MW) Ambuja Cement Grasim Project

Peer Compar ison

(Installed Capacity of other plants is as on 31-03-07 ) (Source: CMA data and Edelweiss Capital Research)

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Productivity gains through focus on principal components of cement cost

• Installation of modern pyro processing system in all the new

installations having lower coal consumption

• MSW plant at Chandigarh to produce pallets for kiln firing at Baga
• Recently allotted Mandla (North) Coal Block for Cement plant which

will become operational from 2011

• Expected coal cost at Rs 1600 PMT v/s Rs 2800 PMT at present

Cement Cost (%) Key Measures to Enhance Productivity/Contain Costs

• Existing split location grinding/blending plants near the market &

flyash source have resulted in reduced freight cost.

• New split location grinding/blending units at Panipat, Bagheri,

Roorkee, & Wanakbori which are close to consumption centres as well as near source of flyash

• 10 MTPA of the new capacity is entitled to various fiscal benefits.
• 10 year exemption on Sales Tax , Royalty & Electricity Duty on Captive

Thermal Power Plants for 3 MTPA UP Cement Project

• 10 year exemption on excise duty for 7 MTPA capacity at HP

24% 9% 11% 24% 19% 13%

• Existing Captive Thermal Power Plants have reduced the power cost

from Rs 406 PMT in 2001-02 to Rs 200 PMT 2006-07.

• Captive Thermal Power Plants installed at all new Cement plants

Cost of generation: Rs 2.75 per unit v/s Rs 4.50 per unit from grid

COAL COST DISTRIBUTION COST TAXES & DUTIES POWER RAW MATERIAL, FLYASH OTHERS 67%

100% CEMENT COST DETERMINANTS

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287% 8% 7% 139% 26% 51% 10%

% Change

436 (109) 72 46 558 (139) 861 1420 (355) 47.85

2007-08 (Apr- Dec)

318 (79) 67 45 430 (107) 845 1275 (319) 48.32

2006-07 (Apr- Dec)

126 (31) 85 59 269 (67) 968 1,238 (309) 61.15

2005-06

37% 488 (122) PBT 7% 92 Depreciation 2% 63 Interest 30% 643 (161) EBITDA 2% 1221 Expenditure (1%) 67.53 Sale Quantity (Lacs MT) (Cem+Clk) 11% 1,864 (466) Gross Revenue+

2006-07 % Change Particulars

• Rs. in Crs

(USD in Mn)

Cement Division

Financial Performance- FY08 (Apr-Dec) Vs FY07 (Apr-Dec)

+ Excluding Excise Duty

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• 6. Summary

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JAL Has Excellent Growth Opportunities

India’s strong consistent economic growth and infrastructure development has provided JAL with tremendous opportunities

Engineering & Construction Established track record as the leading hydropower E&C company Clear competitive advantage Immense growth potential in Indian hydropower Power

• Approx. 6000 MW portfolio with 80: 20 hydro-thermal mix and more than 40%

merchant power

Expressways and Real Estate India’s two largest expressway projects – Ganga Expressway and Taj Expressway totaling

1250 km approx. to be executed by JAL

Construction opportunity in excess of Rs 650 Billion 35 Million sq feet of Real Estate development to commence shortly as part of

development of 6250 acres of land along Taj expressway

3.3 Billion sq feet real estate development along the Ganga Expressway Cement New cement plants in fast growing markets of the North,Central,Eastern & Western Zones

will make JAL the 3rd largest cement group in India

Dominant low cost producer of cement Strong cement demand in JAL’s natural marketing zone

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THANK YOU

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Backup Slides

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Jaypee Greens-Development Summary

0.077 5,434 0.077 22 Town Homes 1.439 5,427 5.92 2200 Apartments 2.588 5,780 7.315 2438 TOTAL 0.581 5,992 0.607 118 Villas 0.491 6,618 0.711 98 Estates (million Sq ft) Total Area Sold* Average Sale Value (Rs/Sq ft)* Available /Offered Area (million Sq ft.) No of Buildings Available Particulars 6,453 8320 1.288 2006-07 4,502 900 0.200 2005-06 3,264 1020 0.313 2004-05 Rate psf (in Rs.) Sales Value (Rs.million) Sq Ft Sold (In million) Financial Year

* As on 31 December 2007

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2

1 1 2.20 Dec-09 BJCL

4- 90 MW 8.8 Western India 188 MW 14.2 Central India

2 3 88 MW 7.00 In Operation Rewa Complex

1- 11

1 1 1 2 2 No of Integrated Plant

8

• 1
• 1

3 No of Grinding/ Blending Units Oct-10 Sep-08-Dec-08 Mar-10 Jun-08 Jan-08 to Jun-08 Jan-08- Dec-09 Expected Comm. 30 MW 5.00+2.50 JHCP

1- 2- 1- 3- 2-

SN

308 MW 30.50 MTPA Total

2.40 Gujarat Jaypee Cement & Infrastructure Limited 90 MW 35 MW 65 MW

30 MW

2.40 4.00 GACL Ph-I Ph-II 2.00 JSCP 3.00 UP Cement Complex*

7.5 North India

Total Installed Capacity MTPA Captive Thermal Power MW Project

Jaipr akash Assoc iates L imited Pr esenc e of Jaypee Gr

• up in Indian Cement Industr

y

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Roorkee(G) Dec-09 1.00 b) Chamba Dec-09 1.50 a) 2.50 Total – 2 units

Jaypee Himachal Cement Project

30 MW 7.50 Total Northern India 5.00 Total – 3 units HP-II 2 Catering to fastest growing markets of North India(last year growth-10.4%;last 3 year CAGR-9.3%) Grinding unit strategically located to source flyash at zero/nominal cost Excise duty (Production Tax) exemption for 10 years for units at Himachal Pradesh CPP at Bagheri designed to use municipal waste and other non- conventional Raw Materials As on 1-4-2007 the total Installed Capacity in Northern India was 32.39 MTPA which is likely to be 57.89 MTPA by FY10 . With 7.50 MTPA of Capacity by FY-10, Jaypee shall have appox 12.95% market share in Northern India. (Source: CMA data) Value Proposition 30 MW Thermal Power (MW)

HP-I 1

c) b) a)

A-

SN Jan-08 1.50 Panipat(G) March-08 2.00 Bagheri (G) Oct-08 1.50 Baga

Northern India

Capacity (MnTPA) Expected Commissioning Project

Pr esenc e of Jaypee in Nor ther n India

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35 MW Mar-08 2.00 Jaypee Sidhi Cement Project 3- UP Cement Project 2- 27 MW Jan08- Jun-08 2.50 Dalla Cement Factory a- 38 MW Jan08- Jun-08 0.50 Chunar Cement Factory b- 65 MW 3.00 Total - 2 Units Largest single location cement plant in India with 100% power requirement sourced from 3 CPPs of 88 MW. 4 Plants strategically located in different parts of UP- 2nd largest Cement consuming state UP Cement Project (UPCP) is the only Integrated Cement Plant in UP based on the only limestone reserves in the state Sales Tax concessions available to UPCP units for 10 years. Additional Fiscal benefits in form of royalty and Electricity duty exemption available to UPCP units Sales tax related concession available to JRP till 30th Sept 2015 and JSCP for 15 years from start of commercial production for Sales in MP Special incentive in form of Interest free loan available to JAAGO Tanda till 2019 Grinding units strategically located to source flyash at zero cost 1.00 JAAGO Tanda d- 88 MW 7.00 Total - 4 Units

Value Proposition

25 MW 63 MW

Thermal Power (MW)

In Operation 7.00 Rewa Cement Complex 1- c- b- a-

B- SN

0.60 JCBU Sadwakhurd 2.00 Jaypee Bela Plant (JBP) 3.00 Jaypee Rewa Plant (JRP)

Central India Capacity (MnTPA) Exptd Comm. Project

Pr esenc e of Jaypee in Centr al India

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As on 1-4-2007 the total Installed Capacity in Central India was 25.50 MTPA which is likely to be 41.10 MTPA by FY10. With 14.20 MTPA of Capacity by FY-10, Jaypee shall have appox 34.5% market share in Central India (Source: CMA data) 188 MW 14.20 MTPA Total Central India 2.20 Total 2 Units Dec-09 2.20 Bhilai (Split location Grinding Unit) b- Dec-09

• Satna

( Integrated Clinker Plant) a- Bhilai Jaypee Cement Limited 4- Joint Venture with SAIL, a “Navratna” Public sector Undertaking Assured supply of slag for 30 years from SAIL Easy access to markets of Eastern India from Bhilai Value Proposition Thermal Power (MW) B- SN Central India (Contd.) Capacity (MnTPA) Expected Commissioning Project

Pr esenc e of Jaypee in Centr al India

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Mar-10 1.20 Wanakbori-II(G) b- 35 MW Mar-10 2.80 SP-II a- 35 MW Sep-08-Dec-08 1.20 As on 1-4-2007 the total Installed Capacity in Western India was 28.94 MTPA which is likely to be 42.09 MTPA by

• FY10. With 7.80 MTPA of Capacity by FY-10, Jaypee shall have appox 18.53% market share in Western India

(Source: CMA data) 90 MW 8.80 MTPA Total Western India Oct-10 2.40 Gujarat Jaypee Cement & Infrastructure Limited 2- 90 MW 6.40 Total GACL- 4 Units 20 MW Dec-08 1.20 Wanakbori-I (G) b- Gujarat Anjan Cement Limited 1- SP-I a- Establish presence in Western India market and through captive jetty with both the plants to tap the cement export market in middle east Sales tax exemption available for 10 year for SP-I Cement Plant units strategically located to source flyash at zero/nominal cost Availability of Lignite (fuel for Kiln & CPPs) at nominal cost from captive mines Value Proposition (Contd) Thermal Power (MW) C- SN Western India Capacity (MnTPA) Expected Commissioning Project

Pr esenc e of Jaypee in Wester n India

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2.4 MTPA capacity cement plant with captive power plant at District

Kutch in Gujarat in joint venture with Gujarat Mineral Development Corporation Limited (GMDC)

• Equity participation of JAL and GMDC shall be in the ratio of 74:26
• Estimated project cost of Rs.900 Crores.
• Joint Venture Company to also undertake:

Special economic zone (the “SEZ”) for mineral based industries at the same

location or in nearby area subject to availability of sufficient land

Captive jetty for the export of cement and other products manufactured in the

Special Economic Zone

Power station of suitable capacity to provide for the energy needs of the SEZ

JAL has also been found to be the highest bidder for setting up slag

based cement plant in Joint Venture with SAIL at Bokaro. Proposed capacity: 2.0 MTPA. JV agreement to be entered into shortly

New Cement Capacity to be set up

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Build-Own-Operate Tariff Structure (Baspa-II)

Capacity Charges Capacity Charges Energy Charges Energy Charges

Incentive for Secondary Energy Incentive for Secondary Energy Incentive for Plant Availability Incentive for Plant Availability

The capacity charge is an annual lump sum amount equal to the sum of the following:

• Interest on outstanding loans becoming due for the tariff year
• Depreciation charge of 4.3% p.a. of the capital cost / advance depreciation
• Full capacity charges recoverable for plant availability over 90% and pro-rata for availability below 90%

The capacity charge is an annual lump sum amount equal to the sum of the following:

• Interest on outstanding loans becoming due for the tariff year
• Depreciation charge of 4.3% p.a. of the capital cost / advance depreciation
• Full capacity charges recoverable for plant availability over 90% and pro-rata for availability below 90%
• Operation and Maintenance - 1.25% of capital cost with an escalation of 6% per annum, up to 10th year and

thereafter related to CPI and WPI

• Interest on working capital
• Tax, as per actual
• 16% Return on Equity – fully recoverable if energy generated is less than design energy on account of

hydrology for the first 7 years

• Operation and Maintenance - 1.25% of capital cost with an escalation of 6% per annum, up to 10th year and

thereafter related to CPI and WPI

• Interest on working capital
• Tax, as per actual
• 16% Return on Equity – fully recoverable if energy generated is less than design energy on account of

hydrology for the first 7 years

• Applicable to energy delivered in excess of the net design energy
• Applicable to energy delivered in excess of the net design energy
• Applicable if plant availability exceeds 90%
• Applicable if plant availability exceeds 90%

Total Tariff Total Tariff

Tariff for Saleable Design Energy Tariff for Saleable Design Energy Incentive for Secondary Energy Incentive for Secondary Energy Incentive for Plant Availability Incentive for Plant Availability Energy Charges Energy Charges Capacity Charges Capacity Charges

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Track Record of Strong Growth since 1991 reforms

GDP growth v/s JAL EPS Growth (%) GDP growth v/s JAL EPS Growth (%)

9.2 8.5 3.8 8.4 7.5 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2 2

3 2 3

4 2 4

5 2 5

6 2 6

7 G D P G ro w th (% )

• 20.00%
• 10.00%

0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% J A L E P S G ro w th (% )

GDP Growth (%) JAL EPS Growth (%)

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Performance Parameters for Cement Division FY-06 & FY-07

Power Consumption (KWH/T.) Power Consumption (KWH/T.)

86.4 90.4 86.8 84.7 89.5 80.5 82.9 87.6 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Power Cost (Rs. /T) Power Cost (Rs. /T) EBITDA(Rs./T) EBITDA(Rs./T) Variable Cost of Cement (Rs/T) Variable Cost of Cement (Rs/T)

248 307 207 173 330 288 264 255 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 496 398 332 555 807 902 1002 1195

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

880 905 1024 968 1024 989 962 973

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

FY-06. FY-07 FY-06. FY-07 FY-06. FY-07 FY-06. FY-07