1. Summary Information

		Country	India
Company Name	LANCO INFRATECH LIMITED	Principal Name 1	Mr. L. Madhusudhan Rao
Status	Good	Principal Name 2	Mr. G. Bhaskara Rao
		Registration #	01-015545
Street Address	Plot No.4, Software Units Layout, HITEC City, Madhapur, Hyderabad – 500 081, Andhra Pradesh, India
Established Date	26.03.1993	SIC Code	--
Telephone#	91-40-40090400	Business Style 1	Subject is engaged in Construction and Development of Infrastructure Facilities, Property Development, Generation of Power and Trading in Power.
Fax #	91-40-23116109	Business Style 2	--
Homepage	www.lancogroup.com	Product Name 1	--
# of employees	Around 3200 (Approximately)	Product Name 2	--
Paid up capital	Rs.2,387,193,000/-	Product Name 3	--
Shareholders	Promoter and Promoter Group: 72.22% Public Shareholding: 27.78%	Banking	Allahabad Bank
Public Limited Corp.	Yes	Business Period	18 Years
IPO	Yes	International Ins.	-
Public Enterprise	Yes	Rating	A (65)
Related Company
Relation	Country	Company Name	CEO
Subsidiaries	--	Lanco Kondapalli Power Limited	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	89,412,510,000	Current Liabilities	84,694,029,000
Inventories	7,618,821,000	Long-term Liabilities	37,970,787,000
Fixed Assets	5,661,785,000	Other Liabilities	713,186,000
Deferred Assets	52,323,000	Total Liabilities	123,378,002,000
Invest& other Assets	55,027,038,000	Retained Earnings	3,1541,011,000
		Net Worth	34,394,475,000
Total Assets	157,772,477,000	Total Liab. & Equity	157,772,477,000
Total Assets (Previous Year)	93,006,290,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	58,723,194,000	Net Profit	2,783,159,000
Sales(Previous yr)	58,866,990,000	Net Profit(Prev.yr)	4,863,820,000

MIRA INFORM REPORT

REVISED REPORT

Report Date :

02.05.2012

IDENTIFICATION DETAILS

Name :	LANCO INFRATECH LIMITED
Registered Office :	Plot No.4, Software Units Layout, HITEC City, Madhapur, Hyderabad – 500 081, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.03.1993
Com. Reg. No.:	01-015545
Capital Investment / Paid-up Capital :	Rs. 2387.193 Millions
CIN No.: [Company Identification No.]	L45200AP1993PLC015545
TAN No.: [Tax Deduction & Collection Account No.]	HYDL00805A
PAN No.: [Permanent Account No.]	AAACL3499H
Legal Form :	A Public Limited Liability Company. Company’s Shares are listed on the stock Exchange.
Line of Business :	Subject is engaged in Construction and Development of Infrastructure Facilities, Property Development, Generation of Power and Trading in Power.
No. of Employees :	Around 3200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (65)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 138000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having good track. Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	Plot No.4, Software Units Layout, HITEC City, Madhapur, Hyderabad – 500 081, Andhra Pradesh, India
Tel. No.:	91-40-40090400
Fax No.:	91-40-23116109
E-Mail :	info@lancogroup.com krishnakumar@lancogroup.com complianceofficer.litl@lancogroup.com lanco@intimespectrum.com
Website :	http://www.lancogroup.com
Corporate Office :	Lanco House, Plot No 397 Udyog Vihar, Phase III Gurgaon 122 016, Haryana, India
Tel. No.:	91-124-4741000 - 044
Fax No :	91-124-4741764
Factory :	Plot No. 229, Udyog Vihar, Phase No. I, Gurgaon – 122 016, Haryana, India
Tel. No.:	91-124-4691000/ 46910001/ 46910002/ 46910003/ 46910004

DIRECTORS

As on 31.03.2011

Name :

Mr. Madhusudhan Rao Lagadapati

Designation :

Executive Chairman

Date of Birth/Age :

42 Years

Qualification ;

M. Tech, M.S. (Industrial Engg)

Experience :

19 Years

Date of Appointment :

01.04.2011

DIN No.:

00074790

Other Directorship:

S.NO.	CIN	NAME OF THE COMPANY	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L74999AP1991PLC013391	LANCO INDUSTRIES LIMITED	Director	1/11/1991	1/11/1991	-	Active	NO
2	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Whole-time director	1/4/2011	26/03/1993	-	Active	NO
3	U31300AP1993PTC016266	SAI SHAKTHI INFRATECH PRIVATE LIMITED	Director	15/04/1998	15/04/1998	28/10/2006	Active	NO
4	U40101AP1995PLC021459	LANCO KONDAPALLI POWER LIMITED	Director	14/08/1998	14/08/1998	-	Active	NO
5	L64203AP1999PLC030996	LGS GLOBAL LIMITED	Director	28/01/1999	28/01/1999	27/03/2008	Active	NO
6	U28110AP2000PLC033224	LANCO NET LIMITED	Director	5/1/2000	5/1/2000	-	Active	NO
7	U40109AP2000PLC033791	NATIONAL ENERGY TRADING AND SERVICES LIMITED	Director	6/3/2000	6/3/2000	20/04/2010	Active	NO
8	U40109AP1996PLC022967	CLARION POWER CORPORATION LIMITED	Director	12/4/2000	12/4/2000	6/4/2009	Active	NO
9	U31909AP1999PLC033104	RITHWIK ENERGY SYSTEMS LIMITED	Director	28/04/2000	28/04/2000	6/4/2009	Active	NO
10	U40109AP2000PTC034758	LANCO TEESTA HYDRO POWER PRIVATE LIMITED	Director	26/06/2000	26/06/2000	22/07/2010	Active	NO
11	U40109AP2002PTC038683	LANCO BUDHIL HYDRO POWER PRIVATE LIMITED	Director	21/03/2002	21/03/2002	22/07/2010	Active	NO
12	U40101TN1997PLC037663	LANCO TANJORE POWER COMPANY LIMITED	Director	26/09/2002	26/09/2002	26/07/2010	Active	NO
13	U74140HR2002PLC041507	LANCO GROUP LIMITED	Director	27/12/2002	27/12/2002	1/8/2008	Active	NO
14	U40109AP2001PLC036265	LANCO AMARKANTAK POWER LIMITED	Director	3/10/2003	3/10/2003	-	Active	NO
15	U40109AP2004PTC043237	NEKKAR POWER PRIVATE LIMITED	Director	11/5/2004	11/5/2004	-	Active	NO
16	U40109AP2004PTC043235	PARVAT HYDRO POWER PRIVATE LIMITED	Director	11/5/2004	11/5/2004	-	Active	NO
17	U40109AP2004PLC043236	MIRACH POWER LIMITED	Director	11/5/2004	11/5/2004	-	Active	NO
18	U40109AP2004PTC043260	CHATARI HYDRO POWER PRIVATE LIMITED	Director	17/05/2004	17/05/2004	-	Active	NO
19	U40109AP2004PTC043440	BASAVA POWER PRIVATE LIMITED	Director	9/6/2004	9/6/2004	-	Active	NO
20	U40100AP2005PTC045442	PRAGDISA POWER PRIVATE LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
21	U40100AP2005PLC045445	LANCO VIDARBHA THERMAL POWER LIMITED	Director	23/02/2005	23/02/2005	30/10/2008	Active	NO
22	U70102AP2005PTC047310	LANCO PROPERTY MANAGEMENT COMPANY PRIVATE LIMITED	Director	7/12/2005	7/12/2005	-	Active	NO
23	U40100AP2005PTC045448	VAINATEYA POWER PRIVATE LIMITED	Director	29/09/2006	14/12/2005	-	Active	NO
24	U72200AP2004PTC044097	LANCO HILLS TECHNOLOGY PARK PRIVATE LIMITED	Director	20/12/2005	20/12/2005	-	Active	NO
25	U45200AP2006PTC048664	INFRA INDIA VENTURES PRIVATE LIMITED	Director	29/09/2006	9/1/2006	-	Active	NO
26	U74899DL2006PTC146288	RAVI HYDRO ELECTRIC PRIVATE LIMITED	Director	14/02/2006	14/02/2006	-	Active	NO
27	U74899DL2006PTC146289	HIMACHAL HYDRO POWER PRIVATE LIMITED	Director	14/02/2006	14/02/2006	-	Active	NO
28	U31200UP2006PLC031982	LANCO ANPARA POWER LIMITED	Director	12/6/2006	12/6/2006	26/07/2010	Active	NO
29	U31909KA1996PLC019918	UDUPI POWER CORPORATION LIMITED	Director	17/07/2006	17/07/2006	22/07/2010	Active	NO
30	U74900AP2008PTC060157	LANCO SOLAR PRIVATE LIMITED	Director	17/07/2008	17/07/2008	-	Active	NO
31	U63090AP2009PTC063856	CARRETERA TRANSPORT INFRA PRIVATE LIMITED	Director	2/6/2009	2/6/2009	-	Active	NO
32	U40106AP2009PTC065841	SABITHA SOLAR PROJECTS PRIVATE LIMITED	Director	31/12/2010	17/08/2010	-	Active	NO
33	U40300AP2009PTC066023	ORION SOLAR PROJECTS PRIVATE LIMITED	Director	31/12/2010	17/08/2010	-	Active	NO
34	U40106AP2009PTC065856	BHANU SOLAR PROJECTS PRIVATE LIMITED	Director	31/12/2010	17/08/2010	-	Active	NO
35	U40106AP2009PTC066021	OMEGA SOLAR PROJECTS PRIVATE LIMITED	Director	31/12/2010	17/08/2010	-	Active	NO
36	U40109AP2009PTC064018	LANCO SOLAR ENERGY PRIVATE LIMITED	Director	30/09/2011	17/08/2010	-	Active	NO
37	U40108AP2009PTC065840	KHAYA SOLAR PROJECTS PRIVATE LIMITED	Director	30/09/2011	17/08/2010	-	Active	NO
38	U40106AP2009PLC065865	DIWAKAR SOLAR PROJECTS LIMITED	Director	30/09/2011	17/08/2010	-	Active	NO
39	U45400HR2011PLC041920	LANCO KANPUR HIGHWAYS LIMITED	Director	18/01/2011	18/01/2011	2/5/2011	Active	NO

Name :

Mr. Bhaskara Rao Garlapati

Designation :

Executive Vice Chairman

Date of Birth/Age :

53 Years

Qualification ;

M.E. (Mechanical Design)

Experience :

27 Years

Date of Appointment :

01.04.2011

DIN No.:

00075034

Other Directorship:

S.NO.	CIN	NAME OF THE COMPANY	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L74999AP1991PLC013391	LANCO INDUSTRIES LIMITED	Director	1/11/1991	1/11/1991	-	Active	NO
2	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Whole-time director	1/4/2011	26/03/1993	-	Active	NO
3	L64203AP1999PLC030996	LGS GLOBAL LIMITED	Director	28/01/1999	28/01/1999	27/03/2008	Active	NO
4	U40109AP1996PLC022967	CLARION POWER CORPORATION LIMITED	Director	12/4/2000	12/4/2000	1/10/2009	Active	NO
5	U31909AP1999PLC033104	RITHWIK ENERGY SYSTEMS LIMITED	Director	28/04/2000	28/04/2000	8/8/2009	Active	NO
6	U40109AP2002PTC038683	LANCO BUDHIL HYDRO POWER PRIVATE LIMITED	Director	21/03/2002	21/03/2002	22/07/2010	Active	NO
7	U40101AP1995PLC021459	LANCO KONDAPALLI POWER LIMITED	Director	17/12/2002	17/12/2002	19/06/2010	Active	NO
8	U74140HR2002PLC041507	LANCO GROUP LIMITED	Director	27/12/2002	27/12/2002	-	Active	NO
9	U40109AP2000PLC033791	NATIONAL ENERGY TRADING AND SERVICES LIMITED	Additional director	14/09/2009	5/2/2003	20/04/2010	Active	NO
10	U40109AP2001PLC036265	LANCO AMARKANTAK POWER LIMITED	Director	3/10/2003	3/10/2003	23/01/2012	Active	NO
11	U01119AP2003PTC042276	SAFFIRE FARMS PRIVATE LIMITED	Director	22/12/2003	22/12/2003	2/10/2007	Active	NO
12	U40101TN1997PLC037663	LANCO TANJORE POWER COMPANY LIMITED	Director	12/1/2004	12/1/2004	-	Active	NO
13	U01119AP2004PTC042613	CORAL ORCHIDS PRIVATE LIMITED	Director	10/2/2004	10/2/2004	26/06/2009	Active	NO
14	U45200AP2004PTC042805	URANUS INFRATECH PRIVATE LIMITED	Director	4/3/2004	4/3/2004	26/06/2009	Active	NO
15	U45200AP2004PTC042806	LANCO HORIZON PROPERTIES PRIVATE LIMITED	Director	8/3/2004	8/3/2004	-	Active	NO
16	U01119AP2004PTC042616	EMERALD ORCHIDS PRIVATE LIMITED	Director	8/3/2004	8/3/2004	-	Active	NO
17	U45200AP2004PTC042804	JUPITER INFRATECH PRIVATE LIMITED	Director	8/3/2004	8/3/2004	26/06/2009	Active	NO
18	U40109AP2004PTC043237	NEKKAR POWER PRIVATE LIMITED	Director	11/5/2004	11/5/2004	-	Active	NO
19	U40109AP2004PTC043235	PARVAT HYDRO POWER PRIVATE LIMITED	Director	11/5/2004	11/5/2004	-	Active	NO
20	U40109AP2004PLC043236	MIRACH POWER LIMITED	Director	11/5/2004	11/5/2004	16/11/2011	Active	NO
21	U40109AP2004PTC043260	CHATARI HYDRO POWER PRIVATE LIMITED	Director	17/05/2004	17/05/2004	-	Active	NO
22	U40109AP2004PTC043439	AVIOR POWER PRIVATE LIMITED	Director	9/6/2004	9/6/2004	-	Active	NO
23	U40109AP2004PTC043442	SIDDHESWARA POWER PRIVATE LIMITED	Director	9/6/2004	9/6/2004	-	Active	NO
24	U45400AP2004PTC042612	PORTIA PROPERTIES PRIVATE LIMITED	Director	9/6/2004	9/6/2004	2/12/2011	Active	NO
25	U72200AP2004PTC044097	LANCO HILLS TECHNOLOGY PARK PRIVATE LIMITED	Director	7/9/2004	7/9/2004	-	Active	NO
26	U01119AP2003PTC041094	GVRN AGRO ESTATES PRIVATE LIMITED	Director	28/09/2010	21/02/2005	-	Active	NO
27	U40100AP2005PTC045442	PRAGDISA POWER PRIVATE LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
28	U40100AP2005PTC045449	HIMAVAT POWER PRIVATE LIMITED	Director	23/02/2005	23/02/2005	-	Active	NO
29	U40109AP2000PTC034758	LANCO TEESTA HYDRO POWER PRIVATE LIMITED	Director	26/03/2005	26/03/2005	-	Active	NO
30	U70102AP2005PTC047310	LANCO PROPERTY MANAGEMENT COMPANY PRIVATE LIMITED	Director	31/08/2005	31/08/2005	-	Active	NO
31	U40100AP2005PLC045445	LANCO VIDARBHA THERMAL POWER LIMITED	Additional director	12/1/2012	15/10/2005	-	Active	NO
32	U45200AP2006PTC048664	INFRA INDIA VENTURES PRIVATE LIMITED	Director	3/1/2006	3/1/2006	-	Active	NO
33	U65993AP2006PTC048667	LANFIN TRUSTEE PRIVATE LIMITED	Director	3/1/2006	3/1/2006	-	Strike off	NO
34	U40100AP2005PTC045448	VAINATEYA POWER PRIVATE LIMITED	Director	29/09/2006	16/01/2006	-	Active	NO

Name :

Mr. Sridhar Lagadapati

Designation :

Vice- Chairman

Date of Appointment :

26.03.1993

DIN No.:

00075809

Other Directorship:

S.NO.	CIN	NAME OF THE COMPANY	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Director	26/03/1993	26/03/1993	-	Active	NO
2	U70100AP1994PLC018996	LANCO PROJECTS LIMITED	Director	16/12/1994	16/12/1994	2/7/2007	Active	NO
3	U40109AP1996PLC022967	CLARION POWER CORPORATION LIMITED	Director	12/4/2000	12/4/2000	6/4/2009	Active	NO
4	U31909AP1999PLC033104	RITHWIK ENERGY SYSTEMS LIMITED	Director	28/04/2000	28/04/2000	8/8/2009	Active	NO
5	U74140HR2002PLC041507	LANCO GROUP LIMITED	Director	27/12/2002	27/12/2002	1/4/2008	Active	NO
6	L74999AP1991PLC013391	LANCO INDUSTRIES LIMITED	Director	29/05/2003	29/05/2003	-	Active	NO
7	U92111AP2003PTC041151	LARSCO ENTERTAINMENT PRIVATE LIMITED	Director	12/6/2003	12/6/2003	-	Active	NO
8	U40101AP1995PLC021459	LANCO KONDAPALLI POWER LIMITED	Director	8/9/2003	8/9/2003	-	Active	NO
9	U45400AP2004PTC042352	CORDELIA PROPERTIES PRIVATE LIMITED	Director	2/1/2004	2/1/2004	-	Active	NO
10	U45400AP2004PTC042501	DEIMOS PROPERTIES PRIVATE LIMITED	Director	27/01/2004	27/01/2004	-	Active	NO
11	U45400AP2004PTC042612	PORTIA PROPERTIES PRIVATE LIMITED	Director	10/2/2004	10/2/2004	-	Active	NO
12	U01119AP2004PTC042616	EMERALD ORCHIDS PRIVATE LIMITED	Director	10/2/2004	10/2/2004	-	Active	NO
13	U70102AP2004PTC042761	NEPTUNE PROJECTS PRIVATE LIMITED	Director	27/02/2004	27/02/2004	-	Active	NO
14	U45200AP2004PTC042806	LANCO HORIZON PROPERTIES PRIVATE LIMITED	Director	4/3/2004	4/3/2004	-	Active	NO
15	U40109AP2004PTC043441	REGULUS POWER PRIVATE LIMITED	Director	9/6/2004	9/6/2004	-	Active	NO
16	U40109AP2005PLC045214	LANCO POWER LIMITED	Director	31/01/2005	31/01/2005	1/4/2007	Active	NO
17	U40100AP2005PTC045448	VAINATEYA POWER PRIVATE LIMITED	Director	23/02/2005	23/02/2005	-	Active	NO
18	U40100AP2005PTC045449	HIMAVAT POWER PRIVATE LIMITED	Director	23/02/2005	23/02/2005	27/10/2011	Active	NO
19	U40109AP2000PLC033791	NATIONAL ENERGY TRADING AND SERVICES LIMITED	Director	19/12/2005	19/12/2005	20/04/2010	Active	NO
20	U65993AP2006PTC048667	LANFIN TRUSTEE PRIVATE LIMITED	Director	3/1/2006	3/1/2006	-	Strike off	NO
21	U74899DL2006PTC146288	RAVI HYDRO ELECTRIC PRIVATE LIMITED	Director	14/02/2006	14/02/2006	-	Active	NO
22	U74899DL2006PTC146289	HIMACHAL HYDRO POWER PRIVATE LIMITED	Director	14/02/2006	14/02/2006	-	Active	NO
23	U01119AP2004PTC042502	PEARL FARMS PRIVATE LIMITED	Director	31/05/2006	31/05/2006	-	Active	NO
24	U45400AP2004PTC042503	DIONE PROPERTIES PRIVATE LIMITED	Director	31/05/2006	31/05/2006	-	Active	NO
25	U45200AP2004PTC042805	URANUS INFRATECH PRIVATE LIMITED	Director	31/05/2006	31/05/2006	26/06/2009	Active	NO
26	U28110AP2000PLC033224	LANCO NET LIMITED	Director	20/06/2006	20/06/2006	-	Active	NO
27	U40101AP2006PTC051333	LANCO POWER TRANSMISSION PRIVATE LIMITED	Director	5/10/2006	5/10/2006	-	Active	NO
28	U70102AP2006PTC051833	LANCO BAY TECHNOLOGY PARK PRIVATE LIMITED	Director	29/11/2006	29/11/2006	-	Active	NO
29	U92111KA2006PTC041105	JUBILEE MEDIA COMM PRIVATE LIMITED	Director	4/12/2006	4/12/2006	-	Active	NO
30	U45200AP2007PTC052452	GARNET INFRASTRUCTURE AND POWER VENTURES PRIVATE LIMITED	Director	22/01/2007	22/01/2007	-	Active	NO
31	U40108AP2007PTC052684	LANCO WIND POWER PRIVATE LIMITED	Director	8/2/2007	8/2/2007	30/11/2011	Active	NO
32	U40104AP2007PLC054207	LANCO BABANDH POWER LIMITED	Director	30/05/2007	30/05/2007	22/07/2010	Active	NO
33	U45200AP2008PTC057345	TETHYS PROPERTIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
34	U45200AP2008PTC057344	NIX PROPERTIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
35	U45200AP2008PTC057340	BIANCA PROPERTIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
36	U45200AP2008PTC057339	BELINDA PROPERTIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
37	U45200AP2008PTC057338	ANANKE PROPERTIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	-	Active	NO
38	U45200AP2008PTC057347	THEBE PROPERTIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	26/06/2009	Active	NO
39	U45200AP2008PTC057343	LEDA PROPERTIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	26/06/2009	Active	NO
40	U45200AP2008PTC057342	CRESSIDA PROPERTIES PRIVATE LIMITED	Director	28/01/2008	28/01/2008	26/06/2009	Active	NO
41	U40300AP2008PTC059248	LANCO SOLAR POWER PROJECTS PRIVATE LIMITED	Director	21/05/2008	21/05/2008	21/11/2011	Active	NO
42	U52190AP2008PTC059253	MIMAS TRADING PRIVATE LIMITED	Director	21/05/2008	21/05/2008	-	Active	NO
43	U52599AP2008PTC059252	CHARON TRADING PRIVATE LIMITED	Director	21/05/2008	21/05/2008	-	Active	NO
44	U40300AP2008PTC059250	CYGNUS SOLAR PROJECTS PRIVATE LIMITED	Director	21/05/2008	21/05/2008	-	Active	NO
45	U74999AP2008PTC059254	PHOEBE TRADING PRIVATE LIMITED	Director	21/05/2008	21/05/2008	19/12/2011	Active	NO
46	U74900AP2008PTC060157	LANCO SOLAR PRIVATE LIMITED	Director	16/07/2008	16/07/2008	18/07/2008	Active	NO
47	U61100AP2008PTC061085	LANCO KERALA SEAPORTS PRIVATE LIMITED	Director	17/09/2008	17/09/2008	-	Active	NO
48	U40300AP2008PTC061269	THALASSA PROPERTIES PRIVATE LIMITED	Director	12/9/2010	1/10/2008	-	Active	NO
49	U70102AP2008PTC061287	SINOPE PROPERTIES PRIVATE LIMITED	Director	3/10/2008	3/10/2008	-	Active	NO
50	U40108AP2008PTC061286	PASIPHAE POWER PRIVATE LIMITED	Director	3/10/2008	3/10/2008	-	Active	NO
51	U40300AP2008PTC061285	HELENE POWER PRIVATE LIMITED	Director	3/10/2008	3/10/2008	6/12/2011	Active	NO
52	U40300AP2008PTC061289	URSA SOLAR PROJECTS PRIVATE LIMITED	Director	6/10/2008	6/10/2008	-	Active	NO
53	U74900AP2008PTC061574	LANCO TRANSPORT NETWORK COMPANY PRIVATE LIMITED	Director	27/10/2008	27/10/2008	-	Active	NO
54	U70102AP2008PTC061984	ZANIA PROPERTIES PRIVATE LIMITED	Director	27/11/2008	27/11/2008	-	Active	NO

Name :

Mr. Venkatesh Babu Gangarap

Designation :

Managing Director

Date of Appointment :

24.06.2011

DIN No.:

00075079

Other Directorship:

S.NO.	CIN	NAME OF THE COMPANY	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74140HR2002PLC041507	LANCO GROUP LIMITED	Director	31/03/2006	15/10/2004	-	Active	NO
2	U40109AP1996PLC022967	CLARION POWER CORPORATION LIMITED	Director	29/03/2005	29/03/2005	29/03/2010	Active	NO
3	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Managing director	24/06/2011	27/06/2005	-	Active	NO
4	U40109AP2001PLC036265	LANCO AMARKANTAK POWER LIMITED	Director	19/12/2005	19/12/2005	-	Active	NO
5	U40101TN1997PLC037663	LANCO TANJORE POWER COMPANY LIMITED	Director	19/12/2005	19/12/2005	-	Active	NO
6	U72200AP2004PTC044097	LANCO HILLS TECHNOLOGY PARK PRIVATE LIMITED	Director	20/12/2005	20/12/2005	-	Active	NO
7	U45200AP2006PTC048664	INFRA INDIA VENTURES PRIVATE LIMITED	Director	29/09/2006	9/1/2006	-	Active	NO
8	U31909AP1999PLC033104	RITHWIK ENERGY SYSTEMS LIMITED	Director	29/03/2006	29/03/2006	8/8/2009	Active	NO
9	U31909KA1996PLC019918	UDUPI POWER CORPORATION LIMITED	Director	25/08/2008	17/07/2006	-	Active	NO
10	U40109AP2005PLC045214	LANCO POWER LIMITED	Director	30/09/2011	8/1/2007	-	Active	NO
11	U40109AP2002PLC038452	VAMSHI INDUSTRIAL POWER LIMITED	Director	3/9/2007	19/01/2007	12/10/2007	Active	NO
12	U40101AP1995PLC021459	LANCO KONDAPALLI POWER LIMITED	Director	22/01/2007	22/01/2007	29/04/2010	Active	NO
13	U70102AP2004PTC042760	MERCURY PROJECTS PRIVATE LIMITED	Director	28/08/2007	1/2/2007	-	Active	NO
14	U70102AP2004PTC042759	URANUS PROJECTS PRIVATE LIMITED	Director	28/08/2007	26/02/2007	-	Active	NO
15	U40109AP2000PLC033791	NATIONAL ENERGY TRADING AND SERVICES LIMITED	Director	24/04/2007	24/04/2007	17/07/2010	Active	NO
16	U31200UP2006PLC031982	LANCO ANPARA POWER LIMITED	Director	17/09/2007	30/04/2007	26/07/2010	Active	NO
17	U40104AP2007PLC054207	LANCO BABANDH POWER LIMITED	Director	17/11/2008	11/6/2007	22/07/2010	Active	NO
18	U45200AP2007PLC053124	LANCO HOSKOTE HIGHWAY LIMITED	Director	7/8/2009	1/3/2008	21/04/2010	Active	NO
19	U45400AP2007PLC053957	LANCO DEVIHALLI HIGHWAYS LIMITED	Director	7/8/2009	1/5/2008	21/04/2010	Active	NO
20	U74900AP2008PTC061574	LANCO TRANSPORT NETWORK COMPANY PRIVATE LIMITED	Director	30/09/2009	28/10/2008	-	Active	NO
21	U40100AP2005PLC045445	LANCO VIDARBHA THERMAL POWER LIMITED	Director	15/07/2009	30/10/2008	22/07/2010	Active	NO
22	U63090AP2009PTC063856	CARRETERA TRANSPORT INFRA PRIVATE LIMITED	Director	2/6/2009	2/6/2009	-	Active	NO
23	U40109AP2000PTC034758	LANCO TEESTA HYDRO POWER PRIVATE LIMITED	Additional director	16/10/2009	16/10/2009	21/04/2010	Active	NO
24	U74900AP2008PTC060157	LANCO SOLAR PRIVATE LIMITED	Director	18/05/2010	18/05/2010	-	Active	NO
25	U74999TN2010PTC076592	BAY OF BENGAL GATEWAY TERMINAL PRIVATE LIMITED	Additional director	24/07/2010	24/07/2010	21/01/2011	Active	NO
26	U40109AP2009PTC064018	LANCO SOLAR ENERGY PRIVATE LIMITED	Director	30/09/2011	17/08/2010	-	Active	NO
27	U40106AP2009PTC065856	BHANU SOLAR PROJECTS PRIVATE LIMITED	Director	31/12/2010	3/9/2010	-	Active	NO
28	U40108AP2009PTC065840	KHAYA SOLAR PROJECTS PRIVATE LIMITED	Director	30/09/2011	3/9/2010	-	Active	NO
29	U40106AP2009PLC065865	DIWAKAR SOLAR PROJECTS LIMITED	Director	30/09/2011	3/9/2010	-	Active	NO
30	U10200HR2010PLC041280	MAHATAMIL MINING AND THERMAL ENERGY LIMITED	Additional director	20/10/2011	20/10/2011	-	Active	NO

Name :

Dr. Pamidi Kotaiah

Designation :

Director

Date of Appointment :

03.09.2007

DIN No.:

00038420

Other Directorship:

S.NO.	CIN	NAME OF THE COMPANY	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U40101AP1995PLC021459	LANCO KONDAPALLI POWER LIMITED	Director	29/06/1999	29/06/1999	-	Active	NO
2	L15420AP1947PLC000326	THE ANDHRA SUGARS LIMITED	Director	27/04/2001	27/04/2001	-	Active	NO
3	U31200DD1989PLC003122	BLOSSOM INDUSTRIES LIMITED	Director	26/11/2001	26/11/2001	-	Active	NO
4	L72200AP1993PLC015939	ZEN TECHNOLOGIES LIMITED	Director	17/01/2005	17/01/2005	-	Active	NO
5	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Director	3/9/2007	16/06/2006	-	Active	NO
6	U40109AP1995PLC020948	KRISHNA GODAVARI POWER UTILITIES LIMITED	Director	29/12/2006	29/12/2006	15/03/2010	Active	NO
7	U67120AP2007PLC053327	PRIDHVI ASSET RECONSTRUCTION AND SECURITISATION COMPANY LIMITED	Director	19/06/2008	29/03/2007	-	Active	NO
8	U01120AP1996PLC022932	PRAGATI GREEN MEADOWS AND RESORTS LIMITED	Director	29/09/2008	14/12/2007	1/2/2009	Active	NO
9	U40109DL1985PTC114839	NSL RENEWABLE POWER PRIVATE LIMITED	Director	21/07/2008	29/01/2008	12/8/2010	Active	NO
10	U40104AP2007PLC054207	LANCO BABANDH POWER LIMITED	Director	20/08/2011	24/07/2010	-	Active	NO
11	U74120AP2008PTC074583	NUZIVEEDU SEEDS PRIVATE LIMITED	Director	28/09/2011	17/08/2010	-	Active	NO
12	U15429KA1999PLC026121	NSL SUGARS LIMITED	Director	23/09/2011	3/12/2010	-	Active	NO
13	U74120AP2008PTC074522	MANDAVA HOLDINGS PRIVATE LIMITED	Director	29/09/2011	29/12/2010	-	Active	NO

Name :

Mr. Abraham Ias Prathipati

Designation :

Director

Date of Appointment :

03.09.2007

DIN No.:

00280426

Other Directorship:

S.NO.	CIN	NAME OF THE COMPANY	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L65192MH1960PLC011579	FUTURA POLYESTERS LIMITED	Nominee director	2/7/2003	2/7/2003	8/9/2008	Active	NO
2	L74999MH1994PLC077041	JSW ENERGY LIMITED	Director	20/10/2003	20/10/2003	-	Active	NO
3	L74899DL1988PLC032166	UFLEX LIMITED	Nominee director	30/10/2003	30/10/2003	29/06/2010	Active	NO
4	L40105DL1999PLC099328	PTC INDIA LIMITED	Director	1/6/2004	1/6/2004	28/09/2011	Active	NO
5	U31909AP1980PLC002697	VIJAI ELECTRICALS LIMITED	Director	7/6/2005	7/6/2005	-	Active	NO
6	U40100MH2005SGC153648	MAHARASHTRA STATE POWER GENERATION COMPANY LIMITED	Director	30/11/2006	29/07/2005	17/05/2010	Active	NO
7	L74999AP2005PLC059013	GVK POWER & INFRASTRUCTURE LIMITED	Director	10/9/2005	10/9/2005	-	Active	NO
8	L72200AP1990PLC011146	NCC LIMITED	Director	11/1/2006	11/1/2006	-	Active	NO
9	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Director	3/9/2007	16/06/2006	-	Active	NO
10	U40101DL2005PTC137235	HIMALAYAN GREEN ENERGY PRIVATE LIMITED	Director	19/06/2006	19/06/2006	1/4/2007	Active	NO
11	U40108DL2003PTC120409	ATHENA INFRAPROJECTS PRIVATE LIMITED	Nominee director	8/2/2007	8/2/2007	20/08/2009	Active	NO
12	L65999DL2006PLC153373	PTC INDIA FINANCIAL SERVICES LIMITED	Director	14/09/2007	4/6/2007	28/09/2011	Active	NO
13	U40101DL2004PTC148280	ENERGY INFRATECH PRIVATE LIMITED	Director	29/09/2007	10/8/2007	31/03/2008	Active	NO
14	U40105AP2007PLC056799	GLOBAL HEAVY ELECTRICALS LIMITED	Director	20/12/2007	20/12/2007	28/06/2010	Active	NO
15	L52520AP1981PLC003072	VISAKA INDUSTRIES LIMITED	Director	16/06/2009	28/07/2008	-	Active	NO
16	U67110AP2005PLC046367	NCC INFRASTRUCTURE HOLDINGS LIMITED	Director	31/10/2008	4/9/2008	-	Active	NO
17	L40109AP1995PLC019349	TAJ GVK HOTELS AND RESORTS LIMITED	Director	25/07/2009	30/04/2009	-	Active	NO
18	U31102MH1996PLC185098	RAJ WESTPOWER LIMITED	Director	31/05/2010	21/07/2009	-	Active	NO
19	U40109AP2001PLC036265	LANCO AMARKANTAK POWER LIMITED	Director	10/7/2010	21/01/2010	-	Active	NO
20	L40108TN2006PLC061665	ORIENT GREEN POWER COMPANY LIMITED	Director	5/8/2010	27/03/2010	-	Active	NO
21	U40102AP2008PLC058683	GVK ENERGY LIMITED	Director	1/8/2011	30/07/2010	-	Active	NO
22	U67100DL2011PTC216401	MAGNETAR VENTURE PRIVATE LIMITED	Additional director	12/7/2011	12/7/2011	-	Active	NO

Name :

Dr. Uddesh Kumar Kohli

Designation :

Director

Date of Appointment :

03.09.2007

DIN No.:

00183409

Other Directorship:

S.NO.	CIN	NAME OF THE COMPANY	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U72900HR1996PTC035062	CYBIZCALL (INTERNATIONAL) PRIVATE LIMITED	Director	15/03/2001	15/03/2001	17/03/2008	Active	NO
2	L74999DL1991PLC042749	ICRA LIMITED	Director	15/10/2001	15/10/2001	-	Active	NO
3	U74899DL1987GOI002354	NATIONAL RESEARCH DEVELOPMENT CORPORATION	Director	8/2/2005	8/2/2005	8/2/2008	Active	NO
4	L13100AP1958GOI001674	NMDC LIMITED	Director	25/10/2005	25/10/2005	24/10/2008	Active	NO
5	L74140MH1992PLC068379	ALSTOM PROJECTS INDIA LIMITED	Director	28/12/2005	28/12/2005	-	Active	NO
6	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Director	3/9/2007	16/06/2006	-	Active	NO
7	U14107JK1989SGC001110	J & K MINERAL DEVELOPMENT CORPORATION LIMITED.	Director	30/08/2006	30/08/2006	24/10/2008	Active	NO
8	U65100DL2008PTC175845	POWER EQUITY CAPITAL ADVISORS PRIVATE LIMITED	Director	25/03/2008	25/03/2008	11/10/2011	Active	NO
9	U40109MP2006PLC019008	D B POWER LIMITED	Director	30/09/2008	15/05/2008	1/5/2009	Active	NO
10	U13100CT2008GOI020711	NMDC-CMDC LIMITED	Director	19/06/2008	19/06/2008	30/10/2008	Active	NO
11	L24129TN2003PLC051626	HENKEL INDIA LIMITED	Director	11/9/2009	11/9/2009	31/05/2011	Active	NO
12	U40101DL2004PLC206307	RK WIND LIMITED	Director	18/07/2011	12/9/2009	-	Active	NO
13	U40109AP2000PLC033791	NATIONAL ENERGY TRADING AND SERVICES LIMITED	Director	14/07/2010	14/09/2009	-	Active	NO
14	L65999DL2006PLC153373	PTC INDIA FINANCIAL SERVICES LIMITED	Director	24/09/2010	25/09/2009	-	Active	NO

Name :

Mr. Narasimharamulu Pantam

Designation :

Director

Date of Appointment :

03.09.2007

DIN No.:

00064196

Other Directorship:

S.NO.	CIN	NAME OF THE COMPANY	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U31909AP1980PLC002697	VIJAI ELECTRICALS LIMITED	Director	28/07/2006	24/12/2005	18/12/2009	Active	NO
2	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Director	8/6/2006	8/6/2006	-	Active	NO
3	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Director	3/9/2007	16/06/2006	-	Active	NO
4	L74999RJ1938PLC019511	JK LAKSHMI CEMENT LIMITED	Nominee director	6/9/2006	6/9/2006	20/02/2008	Active	NO
5	U40101AP2006PTC049472	KVK ENERGY AND INFRASTRUCTURE PRIVATE LIMITED	Director	28/10/2006	28/10/2006	11/10/2007	Active	NO
6	U45200AP2005PTC045511	NSL NAGAPATNAM POWER AND INFRATECH PRIVATE LIMITED	Director	5/9/2008	7/2/2008	-	Active	NO
7	U40109DL1985PTC114839	NSL RENEWABLE POWER PRIVATE LIMITED	Director	29/09/2009	31/10/2008	-	Active	NO
8	U40109TN2006PTC085606	REGEN POWERTECH PRIVATE LIMITED	Nominee director	23/09/2009	19/06/2009	-	Active	NO
9	U45200AP1992PLC014925	SHALIVAHANA GREEN ENERGY LIMITED	Director	27/09/2010	26/09/2009	-	Active	NO
10	U18101AP2004PLC044154	NSL TEXTILES (EDLAPADU) LIMITED	Director	5/7/2010	28/12/2009	-	Amalgamated	NO
11	U31200UP2006PLC031982	LANCO ANPARA POWER LIMITED	Director	24/08/2010	21/01/2010	-	Active	NO
12	U15429KA1999PLC026121	NSL SUGARS LIMITED	Director	3/9/2010	6/3/2010	-	Active	NO
13	U74120AP2008PTC074583	NUZIVEEDU SEEDS PRIVATE LIMITED	Director	28/09/2011	17/08/2010	13/04/2012	Active	NO
14	U74120AP2008PTC074522	MANDAVA HOLDINGS PRIVATE LIMITED	Director	29/09/2011	29/12/2010	13/04/2012	Active	NO
15	U45400AP2007PTC054029	NSL CONVENTIONAL POWER PRIVATE LIMITED	Director	30/09/2011	5/1/2011	-	Active	NO
16	U40109AP2008PTC059817	NSL ORISSA POWER AND INFRATECH PRIVATE LIMITED	Director	30/09/2011	5/1/2011	-	Active	NO

Name :

Dr. Bellikoth Vasanthan

Designation :

Director

Date of Appointment :

03.09.2007

DIN No.:

01621698

Other Directorship:

S.No.	CIN	NAME OF THE COMPANY	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status
1	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Director	3/9/2007	26/06/2007	-	Active
2	U51909MH2002PTC135499	SEPAL MERCANTILE COMPANY PRIVATE LIMITED	Director	23/10/2007	23/10/2007	23/09/2008	Active
3	U07010KA1997PTC021911	M FAR HOLDINGS PRIVATE LIMITED	Director	6/9/2008	18/11/2007	-	Active
4	U28113MH1996PLC096835	VIRAJ PROFILES LIMITED	Director	24/01/2008	24/01/2008	17/02/2009	Active
5	U45202KA2002PTC056887	VARDHANA FOUNDATIONS PRIVATE LIMITED	Additional director	15/03/2008	15/03/2008	-	Active
6	U45400AP2007PTC054664	SHAASTA INFRATECH ENTERPRISES PRIVATE LIMITED	Director	26/05/2008	26/05/2008	-	Active
7	U45201AP1997PLC028680	GVPR ENGINEERS LIMITED	Director	26/05/2008	26/05/2008	-	Active
8	L74140MH1991PLC063709	BRESCON ADVISORS & HOLDINGS LIMITED	Director	30/09/2009	31/07/2008	5/8/2011	Active
9	U67110AP2005PLC046367	NCC INFRASTRUCTURE HOLDINGS LIMITED	Director	31/10/2008	4/9/2008	6/2/2009	Active
10	U31909KA1996PLC019918	UDUPI POWER CORPORATION LIMITED	Director	19/07/2010	21/05/2010	-	Active

KEY EXECUTIVES

Name :	Mr. J. Suresh Kumar
Designation :	Chief Financial Officer
Date of Birth/Age :	38 Years
Qualification :	ACA
Experience :	13 Years
Date of Commencement :	01.04.2006
Name :	Mr. C. Krishna Kumar
Designation :	Executive Director and Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2012

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	219,519,903	9.12
Bodies Corporate	1,353,712,439	56.22
Any Others (Specify)	165,793,982	6.89
Directors/Promoters & their Relatives & Friends	92,593,586	3.85
Any Other	610,415	0.03
Trusts	72,589,981	3.01
Sub Total	1,739,026,324	72.22
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	1,739,026,324	72.22
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	31,586,172	1.31
Financial Institutions / Banks	45,301,782	1.88
Central Government / State Government(s)	30,000	-
Foreign Institutional Investors	180,610,638	7.50
Sub Total	257,528,592	10.70
(2) Non-Institutions
Bodies Corporate	121,385,144	5.04
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh	212,563,250	8.83
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	31,721,327	1.32
Any Others (Specify)	45,580,283	1.89
Trusts	2,910	-
Clearing Members	25,391,338	1.05
Non Resident Indians	19,514,875	0.81
Foreign Corporate Bodies	669,910	0.03
Foreign Nationals	1,250	-
Sub Total	411,250,004	17.08
Total Public shareholding (B)	668,778,596	27.78
Total (A)+(B)	2,407,804,920	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	-	-
(1) Promoter and Promoter Group	-	-
(2) Public	-	-
Sub Total	-	-
Total (A)+(B)+(C)	2,407,804,920	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Construction and Development of Infrastructure Facilities, Property Development, Generation of Power and Trading in Power.

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Licensed Capacity
Licensed Capacity	Not Applicable
Installed Capacity (MW)#	18
Actual Generation (Lakhs Kwh)	268.98
Auxiliary Consumption (Lakhs Kwh)	1.89
Units Sold (Lakhs Kwh)	266.31

GENERAL INFORMATION

No. of Employees :

Around 3200 (Approximately)

Bankers :

· Allahabad Bank · Andhra Bank · Bank of Baroda · Bank of Maharashtra · Canara Bank · Central Bank of India · Corporation Bank · DBS Bank Limited · Dena Bank · HDFC Bank Limited · ICICI Bank Limited · IDBI Bank Limited · Indian Overseas Bank · IndusInd Bank Limited · Infrastructure Development Finance Company Limited · ING Vysya Bank Limited · Kotak Mahindra Bank Limited · Life Insurance Corporation of India · Oriental Bank of Commerce · Punjab and Sind Bank · Punjab National Bank · Srei Infrastructure Finance Limited · State Bank of India · State Bank of Mysore · State Bank of Bikaner and Jaipur · State Bank of Hyderabad · State Bank of Patiala · Syndicate Bank · Tata Capital Limited · The Catholic Syrian Bank Limited · The Jammu and Kashmir Bank Limited · UCO Bank · Union Bank of India · United Bank of India · Vijaya Bank · Yes Bank Limited · Axis Bank Limited

Banking Relations :	--
Financial Institutions :	Ø Tata Capital Limited Ø Infrastructure Development Finance company Limited
Auditors 1 :
Name :	S.R. Batliboi and Associates C Chartered Accountants
Address :	Golf View Corporate Tower – B, Sector – 42, Sector Road, Gurgaon – 122002, Haryana, India
Auditors 2 :
Name :	Brahmayya and Company Chartered Accountants
Address :	No.48, Masilamani Road, Balaji Nagar, Royapettah Chennai - 600 014, Tamilnadu, India
Subsidiaries :	1. Lanco Kondapalli Power Limited (Formerly Lanco Kondapalli Power Private Limited (LKPL)) 2. Lanco Tanjore Power Company Limited (Formerly Aban Power Company Limited (APCL)) 3. National Energy Trading and Services Limited (Formerly Lanco Power Trading Limited (NETS)) 4. Lanco Teesta Hydro Power Private Limited (Formerly Lanco Energy Private Limited (LTHPPL)) 5. Lanco Budhil Hydro Power Private Limited (Formerly Lanco Green Power Private Limited (LBHPPL)) 6. Lanco Hydro Power Ventures Private Limited (LHPVPL) 7. Vamshi Industrial Power Limited (VIPL) 8. Vamshi Hydro Energies Private Limited (VHEPL) 9. Lanco Mandakini Hydro Energy Private Limited (Formerly Lanco Hydro Energies Private Limited (LMHEPL)) 10. Lanco Power Limited ( Formerly Lanco Amarkantak Power Limited (LPL)) 11. Mercury Projects Private Limited (MPPL) 12. Lanco Wind Power Private Limited (LWPPL) 13. Lanco Solar Private Limited (LSPL) 14. Lanco Vidarbha Thermal Power Limited (Formerly Lanco Vidarbha Thermal Power Private Limited (LVTPL)) 15. Amrutha Power Private Limited (APPL) 16. Spire Rotor Private Limited (SRPL) 17. Lanco Solar Energy Private Limited (Formerly Lanco Solar Projects (India) Private Limited (LSEPL)) 18. Bhanu Solar Projects Private Limited (BSPPL) 19. Diwakar Solar Projects Private Limited (DSPPL) 20. Khaya Solar Projects Private Limited (KSPPL) 21. Himavat Power Private Limited (HPPL) 22. Arneb Power Private Limited(ArPPL) 23. Regulus Power Private Limited (Formerly Nandigama Power Private Limited (RPPL)) 24. Lanco Kanpur Highways Limited (LKHL) 25. JH Patel Power Project Private Limited (JhPL) 26. Lanco Hills Technology Park Private Limited (LHTPPL) 27. Telesto Properties Private Limited (Formerly Coral Agro Estates Private. Limited (TePPL)) 28. Cordelia Properties Private Limited (Formerly Garnet Agro Estates Private Limited (CPCL)) 29. Dione Properties Private Limited (Formerly Diamond Farms Private . Limited (DPPL)) 30. Deimos Properties Private Limited (Formerly Ruby Agro Farms Private . Limited (DePPL)) 31. Pearl Farms Private Limited (PFPL) 32. Uranus Projects Private Limited (UPPL) 33. Neptune Projects Private Limited (NPPL) 34. Cressida Properties Private Limited (CrPPL) 35. Leda Properties Private Limited (LPPL) 36. Thebe Properties Private Limited (ThPPL) 37. Uranus Infratech Private Limited (UIPL) 38. Coral Orchids Private Limited (COPL) 39. Jupiter Infratech Private Limited (JIPL) 40. Lanco Solar Services Private Limited 41. Lanco Infratech (Mauritius) Limited (LIML) 42. Lanco International Pte Limited (Formerly Lanco Enterprise PTE Limited (LInPL)) 43. P.T Lanco Indonesia Energy (LInE) 44. Lanco Solar Holding Netherland B.V 45. Lanco Solar International Pte Limited 46. Lanco Holding Netherland B.V 47. Green Solar SRL 48. Lanco Enterprise Pte Limited (China) 49. Lanco Solar International Limited – LSIL 50. Lanco Italy PV 1 Investments B.V 51. Lanco Italy PV 2 Investments B.V 52. Lanco Spain PV1 Investments B.V 53. Lanco Solar International USA Inc. 54. LE New York – LLC 55. Lanco Resources International Pte Limited (LRIPL) 56. Lanco Power International Pte Limited 57. Lanco Resources Australia Pty. Limited (LRAPL) 58. The Griffin Coal Mining Company Pty Limited 59. Carpenter Mine Management Pty Limited 60. Lanco Energy Africa 61. Inversion Solar Andalucia 14 SL 62. Lanco Rocky Face Land Holdings LLC 63. Lanco Tracy City Land Holding LLC (USA) 64. Lanco North Park Land Holding One LLC (USA) 65. Lanco North Park Land Holding Two LLC (USA) 66. Apricus S.R.L 67. Lanco Solar Project Development SL
Enterprises where Significant influence Exists:	1. Udupi Power Corporation Limited (UPCL) 2. Lanco Hoskote Highway Private Limited (LHHPL) 3. Lanco Devihalli Highways Private Limited (LDHPL) 4. Ananke Properties Private Limited (AnPPL) 5. Bianca Properties Private Limited (BiPPL) 6. Belinda Properties Private Limited (BePPL) 7. Tethys Properties Private Limited (TPPL) 8. Portia Properties Private Limited ( Formerly Garnet Groves Private Limited (PPPL)) 9. Lanco Anpara Power Limited (LAnPL) 10. Lanco Babandh Power Limited (LBPL) 11. Charon Trading Private Limited (CTPL) 12. Mimas Trading Private Limited (MTPL) 13. Phoebe Trading Private Limited (PTPL) 14. Bay of Bengal Gateway Terminal Private Limited (BBGTPL) 15. Avior Power Private Limited (Formerly Chobia Hydro Power Private Limited (AvPPL)) 16. Mirach Power Private Limited (Formerly Dharmasala Hydro Power Private Limited (MiPPL)) 17. Pragdisa Power Private Limited (PrPPL) 18. Vainateya Power Private Limited (VPPL) 19. Basava Power Private Limited (Formerly Jubilee Hydro Power Private Limited (BPPL)) 20. Siddheswara Power Private Limited (Formerly Diyothal Hydro Power Private Limited (SiPPL))
Enterprises Where Key Management Personnel have Significant Influence:	1. Lanfin Ventures Private Limited (LVPL) 2. Lanco Horizon Properties Private Limited (LHPPL) (Formerly Uranus Properties Private Limited) 3. Lanco Group Limited (LGL) 4. S.V. Contractors (SVC) 5. Lanco Foundation (LF) (Formerly Lanco Institute of General Humanitarian Trust) 6. Lanco Bay Technology Park Private Limited (LBTPL) 7. Lanco Operation and Maintenance Company Private Limited (Formerly Sigma 8. Powertech Services Private Limited (LOMPL)) 9. Lanco Rani Joint Venture (LR) 10. Nekkar Power Private Ltmited (NePPL)(Formerly Chamba Hydro Power Private Limited)

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital : Rs.5000.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.2407.805 Millions

As on 31.03.2011

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs. 2387.193 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		2387.193	2385.470	2198.340
2] ESOP Outstanding		466.271	746.010	207.460
3] Reserves & Surplus		31541.011	28474.880	16209.320
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		34394.475	31606.360	18615.120
LOAN FUNDS
1] Secured Loans		31476.102	18893.350	9734.390
2] Unsecured Loans		6494.685	8444.130	3697.040
TOTAL BORROWING		37970.787	27337.480	13431.430
DEFERRED TAX LIABILITIES		0.000	53.860	178.130
TOTAL		72365.262	58997.700	32224.680
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5661.785	3988.980	3652.750
Capital work-in-progress (including capital advances)		1020.763	334.360	223.720
INVESTMENT		54006.275	33941.140	20746.210
DEFERREX TAX ASSETS		52.323	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7618.821	4472.140	4219.750
	Sundry Debtors	27876.473	23039.820	11709.200
	Cash & Bank Balances	3256.952	3674.840	876.010
	Other Current Assets	67.752	8.000	10.780
	Loans & Advances	58211.333	23547.010	18366.280
Total Current Assets		97031.331	54741.810	35182.020
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	84694.029	33385.500	27076.460
	Other Current Liabilities
	Provisions	713.186	623.090	503.560
Total Current Liabilities		85407.215	34008.590	27580.020
Net Current Assets		11624.116	20733.220	7602.000
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		72365.262	58997.700	32224.680

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Operating Income	58723.194	58866.990	40825.860
		Other Income	428.648	1115.150	150.610
		TOTAL (A)	59151.842	59982.140	40976.470
Less	EXPENSES
		Construction and Operating Expenses	28528.050	34564.900	25978.930
		Other operating expenses	16498.005	11868.180	6921.990
		Salaries, Wages and other employee benefits	3968.777	1896.060	1199.550
		Managerial Remuneration	159.364	117.190	114.250
		Auditor’s Remuneration	12.964	10.780	6.470
		Other Expenses	1651.627	1735.250	933.560
		Provision for Debts/ Claim	31.850	11.640	0.000
		TOTAL (B)	50850.637	50204.000	35154.750
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		8301.205	9778.140	5821.720
Less	INTEREST & FINANCIAL EXPENSES (D)		3377.416	1979.400	1386.120
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4923.789	7798.740	4435.600
Less/ Add	DEPRECIATION/ AMORTISATION (F)		720.630	597.710	405.260
	PROFIT BEFORE TAX (E-F) (G)		4203.159	7201.030	4030.340
Less	TAX (H)		1420.000	2337.210	1381.660
	PROFIT AFTER TAX (G-H) (I)		2783.159	4863.820	2648.680
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		10717.633	5853.820	3205.140
	BALANCE CARRIED TO THE B/S		13500.792	10717.640	5853.820
	Earnings Per Share (Rs.)
	- Basic		1.20	2.17	1.25
	- Diluted		1.19	2.14	1.24

QUARTERLY RESULTS

PARTICULARS	30.06.2011 1^st Quarter	30.09.2011 2^nd Quarter	31.12.2011 3^rd Quarter
Type
Net Sales	17308.700	17599.900	25459.000
Total Expenditure	14863.900	16091.900	23968.200
PBIDT (Excl OI)	2444.800	1508.000	1490.800
Other Income	115.300	105.20	202.500
Operating Profit	2560.100	1613.200	1693.300
Interest	1115.900	1124.300	1332.100
Exceptional Items	0.000	0.000	0.000
PBDT	1444.200	488.900	361.200
Depreciation	223.300	230.500	267.100
Profit Before Tax	1220.900	258.400	94.100
Tax	393.900	93.300	(152.900)
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	827.000	165.100	247.000
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	827.000	165.100	247.000

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.70	8.11	6.46
Net Profit Margin (PBT/Sales)	(%)	7.15	12.23	9.87
Return on Total Assets (PBT/Total Assets}	(%)	4.09	12.26	10.38
Return on Investment (ROI) (PBT/Networth)		0.12	0.23	0.22
Debt Equity Ratio (Total Liability/Networth)		2.48	1.07	1.48
Current Ratio (Current Asset/Current Liability)		1.13	1.61	1.28

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	-
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	No

NATURE OF OPERATIONS

Subject is an integrated infrastructure developing company. The company provides engineering, procurement, construction, commissioning and project management services on a turnkey basis to the power Sector for thermal (coal fired and gas fired) and hydro power plants as well and also construction of highways, power plants, water supply and irrigation projects including dam, tunnels etc.

OPERATIONS REVIEW

On a Consolidated basis the Company has reported Gross Revenues of Rs. 80419.376 millions as against Rs. 82915.001 millions of Revenues registered in the Previous Year. Total Expenditure for the Year was Rs. 70024.598 millions as against Rs. 72838.152 millions in the Previous Year. The Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to Rs. 21486.605 millions while the same was Rs. 17109.750 millions for the Previous Year i.e. an increase of 26%. The Profit Before Taxation stood at Rs. 10394.778 millions, an increase of 3% as compared to Rs. 10076.849 millions in the Last Year. The Net Profit after Tax after adjustment of Minority Interest and Share of Profits of Associates was Rs.4460.688 millions as against Rs. 4585.489 millions for the Previous Year. Gross Interest and Finance charges on consolidated basis amounted to Rs. 7554.486 millions in comparison to Rs. 3554.108 millions due to increase in loans and Working Capital Requirements for Project Execution.

MANAGEMENT'S DISCUSSION AND ANALYSIS:

COMPANY REVIEW

Subject is one of the fastest growing integrated infrastructure development conglomerates, engaged in power, EPC, solar, natural resources and other infrastructure projects. Company is one of India’s largest private independent power producers in India. Company follows a ‘concept to commissioning’ EPC execution model that addresses time, cost and quality in every project, creating an unwavering focus on customer satisfaction by delivering quality projects. Company operates across India and 10 countries globally through its special purpose vehicles for its various infrastructure development projects. Over the last 25 years, company has evolved with the rapid economic development of the country. Company has constructed various projects (small, medium, large and mega) across power, road and port infrastructure and carried out Brownfield as well as Greenfield projects.

ECONOMIC REVIEW

India sustained its growth momentum and emerged among the best performing economies globally in FY 2010-11. Amid a sluggish global recovery, India’s GDP growth rate was 8.6% by virtue of strong fundamentals, surging domestic demand and well formulated fiscal policies of the Government of India. The six core industries recorded a growth rate of 5.9% during FY 2010-11 as against 5.5% in the previous year. The Government has planned large investments to catalyse the development of the infrastructure sector, which is expected to accelerate the country’s economic growth.

INDUSTRY STRUCTURE AND DEVELOPMENTS

EPC

EPC is a contracting arrangement, where the contractor designs, procures the necessary materials, constructs and transfers the completed plant to the owner for an agreed amount. Under this turnkey way of contracting, the responsibility of the project completion and other risks involved in the project lies with the contractor. With enhanced thrust on infrastructure creation over the last decade, there is a significant momentum in the EPC activities. Various sectors such as oil and gas, chemicals and petrochemicals, power and other infrastructure have been opting the EPC way of constructing the plants.

POWER

Power is essential to sustain the projected GDP growth rate of around 8-9% and to accelerate India’s socio-economic development. With India’s strong economic performance over the last decade, additional pressure has been created towards the development of new capacities for power generation.

SOLAR

With rising global concerns over climate change and energy security, the focus on clean, green and sustainable energy is increasing considerably. One of the most powerful sources of renewable energy is the sun. Countries like Germany, Italy, France, US, India, China etc are increasing their focus on the development of solar power. As a result, global installed capacity of solar power is expected to reach 210 GW by FY 2020, from the current levels of just 40 GW in FY 2010

In India, the Government announced the National Action Plan on Climate Change (NAPCC) through the Ministry of New and Renewable Energy (MNRE) on June 30, 2008 with a vision to make India’s economic development energy efficient. The plan included utilization of solar energy as one of its core eight missions. As a result, Jawaharlal Nehru National Solar Mission (JNNSM) was launched with a mission to achieve Solar Power Capacity addition of 20 GW by 2022 (to be implemented in three phases).

At present, various players across the country have already signed Solar PV PPAs for 1150 MW (to be constructed by March 2012) and Solar Thermal PPAs for 500 MW (to be constructed by May 2013). Maharashtra State Utility has already awarded EPC contract for 125 MW, construction for which is already underway

OPERATIONAL REVIEW

EPC Lanco is one of the largest EPC contractors in India for the power sector, with an order book of about Rs.30162.200 millions. The Company has also made investments in non-conventional solar power sector and intends to capture a significant share in this space. Some of the major EPC orders executed include Amarkantak (I and II), Kondapalli, Tanjore (Aban), Udupi (I and II) and Anpara I. In the construction space, the Company has successfully executed

a wide range of projects, spanning across power plants (thermal and hydro), highways, airports, industrial structures, transmission and distribution, chimneys, cooling towers, water infrastructure and heavy civil structures.

Edge

􀁳 Expertise in engineering of coal, gas and hydro-based power projects

􀁳 A team of 4000-plus qualified and experienced professionals, of which 50% are engineers and procurement experts

􀁳 Proficiency in plant designing and its various aspects including system design and integration, mechanical design, electrical design, control and instrumentation and civil works design to meet national and international standards and statutory and regulatory requirements

Highlights FY 2010-11

􀁳 Marked entry into the lucrative third party EPC business through:

· Balance of Plant (BOP) package contract from Maharashtra State Power Generation Company Limited (Mahagenco) for 1,980 MW (3 x 660 MW) Koradi Thermal Power Plant

· EPC Contract by a Moser Baer Power (Madhya Pradesh) Limited, for their 2 x 600 MW Coal Based Thermal Power Project

· EPC contract for development of 250 MW gas based power plant in Iraq

POWER

Lanco has developed a proven expertise in developing power generation capacities through conventional and non-conventional sources of energy, such as coal, gas, biomass, hydro, solar and wind. Its current operating capacity is 3,292 MW, and is further constructing additional capacities of 6,000 MW. Besides, there are a number of projects, which are under various stages of development.

EDGE

􀁳 Presence across the value chain comprising coal mining, project development, EPC (engineering, procurement and construction), O and M (operation and maintenance), and trading

􀁳 Optimizing resources and utilizing strategic locations to set benchmarks in the power sector

􀁳 Capability to identify and develop profitable projects

FINANCIAL REVIEW

PRINCIPLES OF CONSOLIDATION

The financial statements of the Company and its subsidiaries have been consolidated on a line by line basis by adding together the book values of items such as assets, liabilities, income and expenses after eliminating intra-group balances and the unrealized profits/ losses on intra-group transactions and are drawn up by using uniform accounting policies for like transactions and other events in similar circumstances, and are presented to the extent possible in the same manner as the Company’s individual financial statements. The financial statements of the subsidiaries are consolidated from the date on which effective control is transferred to the company till the date such control exists. The difference between the cost of investments in subsidiaries over the book value of the subsidiaries’ net assets on the date of acquisition is recognized as goodwill or capital reserve in the consolidated financial statements. Equity method of accounting is followed for investments in Associates in accordance with Accounting Standard (AS) 23 – Accounting for Investments in Associates in Consolidated Financial Statements, wherein goodwill / capital reserve arising at the time of acquisition and share of profit or losses after the date of acquisition are included in carrying amount of investment in associates. Unrealized profits and losses resulting from transactions between the company and Associates are eliminated to the extent of the company’s interest in the associate. Investments in Associates, which are made for temporary purposes, are not considered for consolidation and accounted for as investments. The corresponding entry is adjusted by way of reduction in investment of capital work-in-progress. Putting it simply, while consolidating the subsidiary company the elimination takes place at the topline itself where the entire amount of revenue and expenditure are eliminated. In case of associate consolidation, while the entire revenue is recognized, the profit or loss earned from the associate is eliminated proportionately to the holding in that associate company. While this adjustment is for the profit and loss account, for adjustment to the balance sheet in the

OUTLOOK

Lanco is committed to undertake new responsibilities and challenges nationally and internationally by virtue of its strengthened business model and motivated personnel. We are confident of leveraging global opportunities, while adhering to our cherished mission, vision and values.

CONTINGENT LIABILITIES (31.03.2011)

a) Sales Tax/Entry Tax Demands disputed by the Company, under appeal Rs.43.403 millions (Previous Year Rs. 294.000 millions).

b) Income Tax Demands disputed by the Company relating to disallowances made in various assessment proceedings, under appeal Rs. 612.600 millions (Previous Year : Rs. 42.220 millions)

c) Service Tax demands disputed by the Company relating to applicability of service tax to various services, under appeal works out to Rs. 511.609 millions (Previous Year : Rs. 356.050 millions)

d) Corporate guarantees given to Financial Institutions, Banks on behalf of other group companies ` 102953.086 millions (Previous Year : Rs. 38757.820 millions).

FIXED ASSETS

· Goodwill

· Leasehold Land

· Freehold Land

· Buildings

· Plant and Machinery

· Office Equipment

· Furniture and Fittings

· Vehicles

STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2011

(RS. IN MILLIONS)

	PARTICULARS	Quarter Ended		Nine months Ended
		31.12.2011 (Unaudited)	30.09.2011 (Unaudited)	31.12.2011 (Unaudited)
1	a) Income from operations	25260.700	17442.300	59855.600
	b) Other Operating Income	198.300	157.600	503.600
	Total	25459.000	17599.900	60359.200
2	Expenditure
	a) Decrease/(Increase) in stock in trade and work in progress	96.900	(3465.600)	(4119.400)
	b) Consumption of materials and construction expenses	21201.400	16845.900	52024.900
	c) Employees cost	1432.200	1328.600	3977.300
	d) Depreciation	267.100	230.500	720.800
	e) Other expenditure	484.800	435.900	1341.200
	Total	23482.400	15375.300	53944.800
3	Profit from Operations before Other Income, Interest & Exceptional Items (1-2)	1976.600	2224.600	6414.400
4	Other income	202.500	105.200	423.000
5	Profit before Interest, Foreign Exchange Fluctuations & Exceptional Items (3+4)	2179.100	2329.800	6837.400
6	Loss/(Gain) on Foreign Exchange Fluctuations (Net)	752.900	947.100	1691.500
7	Interest	1332.100	1124.300	3572.300
8	Profit after Interest but before Exceptional Items (5-6-7)	94.100	258.400	1573.600
9	Exceptional items	-	-	-
10	Profit(+)/Loss (-) from ordinary activities before tax (8+9)	94.100	258.400	1573.600
11	Tax expense	(152.900)	93.300	334.400
12	Net Profit(+)/Loss (-) from ordinary activities after tax (10-11)	247.000	165.100	1239.200
13	Extraordinary items	-	-	-
14	Net Profit (+)/Loss(-) for the Period (12-13)	247.000	165.100	1239.200
15	Paid-up Equity Share Capital (Face Value of Re.1/- per share )	23884	23884	23884
16	Reserves excluding Revaluation Reserves as per Balance Sheet of March 31, 2011	--	--	--
17	Earnings Per Share (EPS) in Rupees (not annualised)
	a) Basic and diluted EPS before extraordinary items for the period, for the previous period and for the previous year
	Basic	0.11	0.07	0.53
	Diluted	0.11	0.07	0.53
	b) Basic and diluted EPS after extraordinary items for the period, for the previous period and for the previous year
	Basic	0.11	0.07	0.53
	Diluted	0.11	0.07	0.53
18	Public shareholding
	- Number of shares	666836139	741368577	666836139
	- Percentage of shareholding	27.70%	30.79%	27.70%
19	Promoters and Promoter Group Shareholding
	a) Pledged / Encumbered
	- Number of Shares	1163999000	903669000	1163999000
	- Percentage of Shares (As a % of the total Shareholding of Promoter and Promoter Group)	66.85%	54.23%	66.86%
	- Percentage of Shares (As a % of the total Share Capital of the Company)	48.34%	37.53%	48.34%
	b) Non - Encumbered
	- Number of Shares	576969781	762767343	576969781
	- Percentage of Shares (As a % of the total Shareholding of Promoter and Promoter Group)	33.14%	45.77%	33.14%
	- Percentage of Shares (As a % of the total Share Capital of the Company)	23.96%	31.68%	23.96%

WEBSITE DETAILS

BUSINESS DESCRIPTION

Subject is an integrated infrastructure development company. The Company has five segments: EPC and Construction, which involves construction of industrial, residential and commercial buildings and roads, engineering, procurement and commissioning (EPC); Power, which generation of power and trading in power; Property Development, which involves development of integrated properties consisting of commercial and residential buildings; Infrastructure, which involves development of roads on build, operate and transfer basis and other infrastructure; Resources, which involves exploration, mining and marketing of coal, and Others, which is engaged in residual activities. Lanco has constructed various projects (small, medium, large and mega) across power, road and port infrastructure and carried out brownfield, as well as greenfield projects. For the nine months ended 31 December 2010, Company’s revenues increased 3% to RS60.11B. Net income increased 24% to RS4.29B. Revenues reflect increased income from power, property development segments and increase in other income. Net income reflects higher gain on stock in trade & work in progress, decreased consumption of materials, construction and general expenses and lower purchase of trading power.

DIRECTORS PROFILE:

Mr. L. Madhusudhan Rao - Executive Chairman of the Board – Chairman

Mr. L. Madhusudhan Rao serves as Executive Chairman of the Board of Subject. He has over 18 years of industrial and entrepreneurial experience. He has been associated with the Lanco Group of Companies for the past 13 years during which period he was instrumental in developing projects from conception to commissioning. He has proven experience in the operation of power projects, infrastructure projects, pig iron projects and ductile iron pipes projects. He did M, Tech (Mechanical Design) and an M.S. (Industrial Engineering) in U.S.A. His previous employment assignments include Meadours Products, Michigan Wagganer Brighten Corporation and Exotic Rubber and Plastics, companies incorporated in the U.S.A. He is a Director on the Boards of Udupi Power Corporation Limited, Aban Power Company Limited, Lanco Amarkantak Power Private Limited, Lanco Hills Technology Park Private Limited, Lanco Electric Utility Limited, Lanco Green Power Private Limited, Rithwik Energy Systems Limited, Clarion Power Corporation Limited, Lanco Energy Private Limited, Lanco Group Limited, Lanco Industries Limited, Lanco Kondapalli Power Private Limited, Lanco Property Management Company Private Limited, Lanfin Ventures Private Limited, Pragdisa Power Private Limited, Occidental Power Private Limited, Chamba 1-lydro Power Private Limited, Chatari Hydro Power Private Limited, Dharmashala Hydro Power Private Limited, Parvat Hydro Power Private Limited, Ravi Hydro Electric Private Limited, Himachal Hydro Power Private Limited, Jubilee Hydro Power Private Limited, Lanco Anpara Power Private Limited, and Lanco Net Limited, and Member Audit Committee of Lanco Amarkantak Power Private Limited.

Mr. G. Bhaskara Rao - Executive Vice Chairman of the Board - Vice-Chairman

Mr. G. Bhaskara Rao serves as Executive Vice Chairman of the Board of Subject. He has over 27 years of industrial and entrepreneurial experience. He has executed various construction projects including dams, bridges and roads and was instrumental in organizing and implementing the ductile iron pipes manufacturing project by Lanco Kalahasthi Castings Limited. He has a B.E (Production) Degree from S.V. University, Tirupati and an M.E (Machine Design) Degree from the Indian Institute of Science, Bangalore.

Mr. Sridhar - Non-Executive Vice Chairman of the Board - Vice-Chairman

Mr. L. Sridhar serves as Non-Executive Vice Chairman of the Board of Subject. He has over 16 years of industrial and entrepreneurial experience. He has been associated with the Lanco Group of Companies for the past 15 years during which period he executed various construction and infrastructure projects. He did his MS (Construction Management in Civil Engineering) in U.S.A. He is a Director on the Boards of Lanco Electric Utility Limited, Clarion Power Corporation Limited, Rithwik Energy Systems Limited, Lanco Group Limited, Lanco Industries Limited, Lanco Projects Limited, Lanco Net Limited, Neptune Projects Private Limited, Ruby Agro Farms Private Limited, Garnet Agro Estates Private Limited, Diamond Farms Private Limited, Pearl Farms Private Limited, Lanco Kondapalli Power Private Limited, Lanco Wind Power Private Limited, Lanfin Trustee Private Limited, Himavat Power Private Limited, Vainateya Power Private Limited, Mehad Hydro Power Private Limited, Ravi Hydro Electric Private Limited, Himachal Hydro Power Private Limited,Garnet Groves Private Limited, Emerald Orchids Private Limited, Uranus Infratech Private Limited, Larsco Entertainment Private Limited, Lanco Power Transmission Private Limited, Lanco Bay Technology Park Private Limited, Garnet Infrastructure and Power Ventures Private Limited, Lanco Babandh Power Private Limited, Ananke Properties Private Limited, Bianca Properties Private Limited, Belinda Properties Private Limited, Cressida Properties Private Limited, Leda Properties Private Limited, Nix Properties Private Limited, Tethys Properties Private Limited, Thebe Properties Private Limited, and Chairman —Audit Committee of Lanco Group Limited.

Mr. Prathipati Abraham - Independent Non-Executive Director - Director/Board Member

Mr. P. Abraham serves as Independent Non-Executive Director of Subject. He is a retired officer from the Indian Administrative Service. He did his M.A from Andhra University and has also done a Diploma in Systems Management from the Bajaj Institute, Mumbai, He was awarded the United Nations Industrial Development Organization fellowship to study the promotion of industries with a special emphasis on export oriented industries in Europe. During his 35 years of service in the Indian Administrative Services, he held a number of executive positions with the Central and State Governments such as Chairman of Maharashtra State Electricity Board, Commissioner of Industries, G0AP, Iron and Steel Controller, Ministry of Steel, Gol and Chairman and Managing Director, Maharashtra State Textile Corporation. He has also authored a book on the power sector reforms with focus on distribution in 2003.

Mr. G. Venkatesh Babu - Managing Director, Executive Director - Director/Board Member

Mr. G. Venkatesh Babu serves as Managing Director, Executive Director of Subject. He has experience in Commercial Banking, Corporate Advisory, Merger and Acquisitions, Project Finance, Equity Capital Markets. He had worked with lndbank and Credit Agricole lndosuez (Calyon) and then had two years of entrepreneurial stint before joining LANCO. He currently looks after LANCO Group’s finance, Human Resources and Infrastructure Initiatives and is a member of LANCO’’s Strategy Team. He focuses on LANCO’s strategic partnership and growth initiatives. He is involved in financing of LANCO Group’s projects and overseeing the resources function of all the Group companies. He is a Bachelor of Commerce from Madras Christian College, Chartered Accountant and Cost Accountant.

Dr. Uddesh Kumar Kohli - Independent Non-Executive Director - Director/Board Member

Dr. Uddesh Kumar Kohli serves as Independent Non-Executive Director of Subject. He has over 42 years experience in the areas of Corporate Planning and Consultancy. He holds an honors degree in Engineering from Indian Institute of Technology, Roorkee, a post-graduate degree in Management and a Ph. D in Economics from the Delhi School of Economics. He has specialized in various fields including strategic planning, corporate governance, management, development finance, energy and power sectors, project management, infrastructure construction, restructuring, reforms and disinvestment of public sector enterprises and human resource development. Dr. Kohli has been associated in an advisory capacity with institutions such as the Asian Development Bank and the United Nations Development Programme for Countries such as Papua New Guinea, Tanzania, China and Maldives. He has also been associated with the International Federation of Training and Development Organisation, Asian Regional Training and Development Organization, Indian Society for Training and Development, Council of Indian Employers, Standing Conference of Public Enterprises, All India Management Association, Board of Governors of Indian Institute of Management, Bangalore and Institution of Engineers (India). He has won awards and has various publications on various aspects of project planning, appraisal, monitoring, information systems, management, power and energy systems, training and development. He is a Director on the Boards of ICRA Limited, Alstom Projects India Limited, WEBCON Limited, Power Equity Capital Advisors Private Limited, DB Power Limited, and Member -- Audit Committee of ICRA Limited and Alstom Projects India Limited and Member -- Shareholders' Grievance Committee of ICRA Limited and Alstom Projects India Limited.

Dr. Pamidi Kotaiah - Independent Non-Executive Director - Director/Board Member

Dr. Pamidi Kotaiah serves as Independent Non-Executive Director of Subject. He is a gold medalist in M.A from Andhra University in Mathematical Economics and Agricultural Economics. He is a Member of the Certified Association of Indian Institute of Bankers. He has varied experience in the Banking Sector with a specialization in the fields of Agriculture and Rural Development. In his past as the Chairman of the NABARD, he undertook various initiatives and innovative measures for rural development. His past experience includes working with international/multilateral institutions including the International Fund for Agricultural Development, Rome, Food and Agriculture Organization of the United Nations and the World Bank. He was awarded the Doctor of Letters by Andhra University in 1997 in recognition of his special contribution to the areas of rural finance and development. He was also awarded the Special Honour Award in 1996 by the World Association of Small and Medium Enterprises in recognition of his special contribution towards the promotion of small and medium enterprises. He is a Director on the Boards of Lanco Kondapalli Power Private Limited, Andhra Sugars Limited, Zen Technologies Limited, Blossom Industries Limited, Krishna Godavari Power Utilities Limited, Pridhvi Asset Reconstruction and Securitisation Company Limited, Pragathi Green Meadows and Resorts Limited and Nujiveedu Seeds Limited and Chairman Audit Committee of Lanco Kondapalli Power Private Limited, Zen Technologies Limited and Pragathi Green Meadows and Resorts Limited and Member Audit Committee of Andhra Sugars Limited and Blossom Industries Limited.

Mr. P. Narasimharamulu - Independent Non-Executive Director - Director/Board Member

Mr. P. Narasimharamulu serves as Independent Non-Executive Director of Subject. He is a Chartered Accountant. He is a Graduate of Law and has completed his Post-Graduation in Commerce. He is a Member of Indian Council of Arbitration with over 34 years of experience in the areas of Financial Management including Resource Mobilization Servicing and Corporate Governance. He has won various awards in the past including the India CFO 2004 Award for Excellence in Finance, Top Ranker Award 2001 for Excellence in Finance from the Birla Institute of Management and Technology. In the past he has been a Director on the Boards of NTPC Electric Supply Company Limited, NTPC Hydro Limited, NTPC Vidyut Vyapar Limited, NTPC Tamil Nadu Electricity Company Limited and Utility Powertech Limited. He is a Director on the Boards of Vijai Electricals Limited, NSL Textiles Limited, NSL Power Limited and Nuziveedu Seeds (Private) Limited and Chairman -- Audit Committee of Vijai Electricals Limited and NSL Textile Limited and Member -- Audit Committee of Nuziveedu Seeds (P) Limited.

Dr. B. Vasanthan - Independent Non-Executive Director - Director/Board Member

Dr. B. Vasanthan serves as Independent Non-Executive Director of Lanco Infratech Limited. He was the Chief Executive Officer of National Bank of Oman, SAOG, Muscat, Oman from 2004-05. He was with Andhra Bank from 1998-2003. Joining as an Executive Director and he was appointed as Chairman and Managing Director in 2000. He has been a career banker throughout and as Chairman & Managing Director of Andhra Bank was responsible for enhanced level of operations and quantum jump in business. He is a B.Com, Gold Medalist from Guruvayurappan College, Calicut, Kerala. He was conferred the Honorary Doctorate Degree (Honoris Causa) by Sri Venkateswara University, Tirupathi in 2003. He is a Director on the Boards of GVPR Engineers Limited, MFAR Holdings Private Limited, BRESCON Corporate Advisors Limited, Vardhana Foundations Private Limited and Chairman -- Audit Committee of GVPR Engineers Limited and Member -- Audit Committee of BRESCON Corporate Advisors Limited.

Mr. G. Venkatesh Babu - Managing Director, Executive Director - Managing Director

Mr. G. Venkatesh Babu serves as Managing Director, Executive Director of Subject. He has experience in Commercial Banking, Corporate Advisory, Merger and Acquisitions, Project Finance, Equity Capital Markets. He had worked with lndbank and Credit Agricole lndosuez (Calyon) and then had two years of entrepreneurial stint before joining LANCO. He currently looks after LANCO Group’s finance, Human Resources and Infrastructure Initiatives and is a member of LANCO’s Strategy Team. He focuses on LANCO’s strategic partnership and growth initiatives. He is involved in financing of LANCO Group’s projects and overseeing the resources function of all the Group companies. He is a Bachelor of Commerce from Madras Christian College, Chartered Accountant and Cost Accountant.

PRESS RELEASE:

New Delhi, June 24: 

Multinational Perdaman Industries has dragged Lanco Infratech to court in Australia seeking a A$3.5 billion (about Rs 1,6000.000 Millions ) compensation for not complying with coal supply pact.

For its upcoming urea plant, Perdaman had entered into a 25-year coal supply pact with Griffin Coal, which was acquired by diversified group Lanco for A$730 million in March 2011.

According to Australia-based Perdaman - which is currently focused on urea production - Lanco is not complying with the coal supply agreement, worth billions of American dollars.

As per the contract with Griffin, about 89 million tonnes of coal is to be supplied to Perdaman’s upcoming Collie urea project in Western Australia over a period of 25 years.

“We have filed a lawsuit against Lanco Infratech seeking a minimum compensation of about A$3.5 billion in the Supreme Court of Western Australia,” Perdaman Chemicals and Fertilisers Pty Ltd’s Chairman and Managing Director Mr Vikas Rambal told PTI.

Lanco Infratech officials were not available for comments.

Perdaman Chemicals and Fertilisers, whose parent company is Perdaman Industries, has filed the lawsuit against Lanco.

“Because of Lanco’s conduct under the Australian consumer act Perdaman is facing road blocks with regards to the works of the proposed $3.8 billion urea plant and have also suffered damages,” Mr Rambal said.

He said the lawsuit, which comes under commercial litigation case, was filed at the end of May and the hearing is expected on July 27.

The final agreement for the coal supply was signed with Griffin in December 2010. “We were planning to start construction of the Collie plant next month. Now, it is kept on hold.” Mr Rambal noted.

The uncertainty over coal supply has also affected Perdaman’s relationships with prospective stakeholders. About 20 contracts with stakeholders, related to urea supply from Collie plant, have been impacted,Mr Rambal said. The proposed Collie plant would have an annual urea production capacity of two million tonnes.

Griffin Coal’s assets include thermal coal mines with a production capacity of about 5 million tonnes at present.

FINANCIAL PERFOMANCE:

(Rs Million)

	Three Months			Nine Months			Year
	Dec’11	Dec’10	Change	Dec’11	Dec’10	Change	FY 11
Gross Revenue*	46,206	30,855	50%	1,09,559	81,188	35%	1,12,206
Reported Revenue	30,537	17,313	76%	68,687	59,401	16%	79,598
Reported PAT	609	1,640	-	(1,848)	4,292	-143%	4,461
Less: Depreciation Adj.	-	1,331	-		1,331	-	1,331
PAT	609	309	97%	(1,848)	2,961	-	3,130
Profit Eliminated	2,189	2,189	54%	7,078	2,493	184%	4,988
Adj. PAT* (PAT + Profit Eliminated + Dep. Adj)	2,798	1,732	97%	5,230	5,454	-4%	8,118
Cash Profit	4,678	3,795	23%	3,795	10.028	18%	12,199
Annualise EPs	4.80	2.98		2.99	3.12	-	3.48

· Projects expected to add revenue from Q1FY13:

· Udupi (600 MW) o Budhil (70 MW)

· Kondapalli III (732 MW), subject to gas availability

· Roads - 163 km

· Hoskote Road

· Devihalli Road

· Power capacity of the Group was 4,390 MW

· EPC Order Book of Rs. 265 bn

Key Balance Sheet figures as on 31^st Dec 2011:

(Rs Million)

Add: Profit Eliminated (as per AS 21)	61,481
Adjusted Net Worth	15,497
Gross Debt (of company, Subsidiaries & Associates)	76,978
Gross debt of projects under Operation	332,153
Gross Debt of projects under Construction	173,997
Cash and Cash Equivalent (including Subs & Associates)	158,156
Net Debt	14,598
Net Debt / Gross Adjusted Net Worth	317,555
	4.13

Sector Wise Performance:

Lanco is present in six sectors

1. EPC

2. Power

3. Solar

4. Natural Resources

5. Infrastructure

6. Property Development

95% of the gross revenue is earned by EPC and Power businesses together

1. EPC

EPC segment provides BOP / EPC services and has executed over 4,334 MW of projects till date. It has 3,750 highly experienced professionals with ''Strong capabilities in project management and execution. Apart from executing the large pipeline of power project of Lanco group, EPC is also executing 3 major external projects Viz.

• 2x660 MW for MB Power (MP) Ltd. of Moser Baer

• 3x660 MW Koradi Thermal Power project for Mahagenco

2x125 MW Akaz Gas Power project for Govt of Iraq

(Rs Million)

	Three Months			Nine Months
	Dec’11	Dec’10	Change	Dec’11	Dec’10	Change
Revenue	25,517	20,372	25%	60,250	42,710	42%
EBITDA	2,937	3,167	-7%	8,934	6,846	30%
EBITDA Margin (%)	12%	16%		15%	16%

Increase of Revenues by 25% is mainly due to substantial progress in execution of Amarkantak (2 x 660 MW), Vidarbha (2 x 660 MW), Babandh (2 x 660 MW) and MB Power (2 X 600 MW) Power Projects.

(Rs Million)

	Rs mn	(%)
Power Projects	184,083	84%
Power Projects	36,043	16%
Total	220,126	100%

As of now order book is consists of internal projects to the tune of 72% and external orders to the tune of 28%.

2. POWER:

Our power portfolio of 9,225 MW with current capacity of 4,367 MW consisting of

- Gas based plants 1,334 MW

- Coal based plants 3,000 MW

- Others (Wind, Hydro) 33 MW

(Rs Million)

	Three Months			Nine Months
	Dec’11	Dec’10	Change	Dec’11	Dec’10	Change
Revenue	11,165	10,260	9%	31,730	38,078	-17%
Less: Power Trading	2,723	1,185	130%	8,043	12,920	-38%
Net Revenue	8,442	9,075	-7%	23,687	25,158	-6%
EBITDA	2,503	4,825	-48%	9,003	12,808	-30%
Less: Power Trading	56	66	-15%	182	290	-37%
Forex (loss)/Gain	(806)	25	-3,524%	1,055	39	-2,805%
Change in Depreciation	-	3,010	-100%	0	1,415	-100%
Adjusted EBITDA	3,303	1,724	91%	9,876	11,064	-11%
EBITDA Margin (%)	39%	19%		42%	44%
Cash Profit	2,087	1366	53%	5,979	6,849	-13%

With the adjustment for impact of depreciation change in last year and Forex loss in the current year, adjusted EBITDA Margin has increased to 39% from 17% compared to corresponding quarter previous year.

Consolidated revenues do not include Power generation revenues of Udupi and Anpara power projects, which are associates.

Details of revenue from various Commissioned Projects:

(Rs Million)

Projects	Capacity (MW)	Units Generated (MUs)	PLF (%)	Total Revenue (Rs. Mn)	EBITDA (Rs. Mn)	PAT (Rs. Mn)	EBITDA Margin
Kondapalli I Kondapalli II	368 366	591 536	74 69	4,244	1,299	484	31%
Kondapalli I Amarkantak II	300 300	582 505	88 76	3,488	1,173	16	34%
Tanjore	120	213	81	705	248	119	35%
Udupi	600	627	47	3,327	1,431	192	43%
Anpara	600	160	50	446	31	(217)	7%

· During the Quarter, Kondapalli II and Amarkantak I traded total 1,044 MU and realized Rs. 4,348 mn i.e. average realization of Rs. 4.2 per unit.

· With the reduction in the gas supply, PLF in Kondapalli II was 69%.

· Amarkantak Power Plant (Unit II, 1 x 300 MW):

· As per Supreme Court order, HERC (Haryana Electricity Regulatory Commission) is to determine tariff for power supplied from May 2011 without being "influenced" by its earlier order.

· Supply of power to Haryana (65%) and Chhattisgarh (35%) is being continued as per the earlier APTEL (Appellate Tribunal) order.

· Power is being supplied to Chattisgarh @ CERC tariff.

· Profit after Tax includes Rs 407 mn of notional forex loss for the quarter (Rs.

§ 639 mn for nine months) which belongs to capital expenditure of Unit III & IV

§ has been charged to Profit and loss account o Non recognition of Rs. 302 mn of revenue for the quarter (Rs. 804 mn for

§ nine months) for power supplied to Haryana from Unit II pending the tariff

· approval of HERC

· Udupi Power Plant:

· Unit I ( 1 x 600 MW)

§ Tariff petition has been filed with Central Electricity Regulatory Commission (CERC).

§ PLF of Udupi is low due to planned maintenance shut down in the month of October and November. Since then it is operating at more

§ than 93% PLF.

· Unit II (1 x 600 MW)

· MoEF clearance for transmission line obtained in Jan'12.

· Anpara Power Plant:

· Commissioning of Anpara 'C' (2 x 600 MW) for both the units was completed on 10^th December 2011 and 18^th January 2012 respectively.

· NETS (Power Trading)

· Traded 1,151 million units during the quarter, which is marginally lower than the 1,200 MU traded in Q3 of 2011.

· Earned revenue of Rs. 5,131 mn, with EBITDA of Rs. 13 mn.

Projects	Status
Udupi (600MW)	With the MoEF clearance and Construction activities in full swing unit is expected to be commissioned by Q1FY13.
Kondapalli (III, 732 MW)	Plant will be ready by the end of FY12. Gas allocation is still awaited.
Budhil (70 MW)	In the final stages of commissioning and expected to be commissioned in Q4FY12
Teesta (500 MW)	75% Barrage works, 10 Km of HRT Excavation, 100% Power House excavation, Surge Shaftexcavation, TRT excavation & EOT Crane erection completed
Amarkantak (III & IV) (1,320 MW)	Boiler parts erection in progress.
Vidarbha (1,320 MW)	Boiler and Turbine structure work is in progress.
Babandh (1,320 MW)	Most of the main plant equipment received at site and under erection.
Uttranchal (76 MW)	6.3 Km Head Race Tunnel excavation out of 9.3 Km and 67% Dam concreting completed. Excavation of Surge Shaft & Vertical Pressure shaft in progress with Raise Boring Machine

3. SOLAR

Lanco solar consists of Solar EPC, Solar Generation and Solar Manufacturing.

• Solar EPC is executing over 376 MW solar farm contracts (PV and Solar Thermal).

• Solar Generation consists of 23 MW as on 31^st Dec 2011, of which 17 MW were commissioned during the quarter.

• Solar Manufacturing plant at Chhattisgarh currently has an installed capacity of producing 50 MW of Modules. Polysilicon and wafer plant is under construction.

(Rs Million)

	Three Months			Nine Months
	Dec’11	Dec’10	Change	Dec’11	Dec’10	Change
Revenue	5538	88	6193%	10180	751	1256%
EBITDA	1319	-42	-	2029	-54
EBITDA Margin (%)	24%	-47%	-	20%	-7%

• Solar EPC:

· Order book of Rs. 45,231 mn with 63% orders from external parties.

· Executed 32 MW in Q3 of which 16 MW were for external parties.

4. NATURAL RESOURCES

With the objective of having higher fuel security, Lanco has initiated Natural resource business which consists of two key assets:

1. Griffin Coal Mine, Australia: The Griffin mine, which is the largest individual supplier of thermal coal to Western Australia has over 1.1 billion tons of coal resources. Currently the mine is producing 4 MTPA.

2. Mahatamil : The Mahatamil Coal block has an estimates resource of 0.8 billion tonns of Coal. The project includes both coal mining and power generation and has been awarded by MahaTamil Collieries Limited (a JV between Tamil Nadu & Maharashtra) to Lanco in August 2011.

(Rs Million)

	Three Months			Nine Months
	Dec’11	Dec’10	Change	Dec’11	Dec’10	Change
Revenue	1,597	1,320	21%	44,831	-	-
EBITDA	1,045	-1,869	-	-224	-	-
Forex(Loss)/gain	1,023	-1,676	-	57	-	-
Adj EBITDA	22	-193	-	-281	-	-
Adj EBITDA Margin (%)	1%	-14%	-	-6%	-	-

·

Revenues are from Griffin asset. Mahatamil asset is currently in Development phase.

· Acquired Griffin asset in the month of February'2011. Hence, no profit and loss account in the corresponding quarter of previous year.

· Griffin:

· Production during the quarter was 0.77 million tonne.

· Forex gain of Rs. 1,023 mn on account of favourable movement of AUD against the USD.

· Current production essentially caters to domestic customers with an export

§ quantity of around 0.75 MTPA. o Planning to increase the production to 15 million tonne per year by 2018.

· Mahatamil:

§ Under the development phase.

· Target to have over 15 MTPA of coal output integrated with at least 2,000 MW power plant.

5. INFRASTRUCTURE:

Current portfolio consists of following highway projects of total length of about 440 km, for which the Concession Agreements are signed with the National Highway Authority of India (NHAI):

• 82 km Neelamangla Junction (Bangalore) - Devihalli (NH-48): Collection of toll will commence from Q1FY13.

• 81 Km of Bangalore - Hoskote - Mulbagal (NH-4): Collection of toll will commence from Q1FY13.

• 283 km - Aligarh- Kanpur (NH-91): The financial closure has been attained and the construction is expected to start soon.

No revenue recognition in the Infrastructure Sector as all the assets are under construction.

(Rs Million)

	Three Months			Nine Months
	Dec’11	Dec’10	Change	Dec’11	Dec’10	Change
Revenue	259	378	-32%	867	1,064	-19%
EBITDA	57	-22	-359%	155	-32	-585%
EBITDA Margin (%)	22%	-6%	-	18%	-3%	-

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.51
UK Pound	1	Rs.85.49
Euro	1	Rs.69.61

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		65

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.