Confidential 1

Corporate Presentation

February 2011

Confidential 2

Table of Contents

Company Overview 02

Business Strategy 15

Order Book 16

Global Strategy 17

Industry Outlook 20

Key Highlights 21

Subsidiaries & Joint Ventures 22

Appendix

Financial Highlights 24

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Confidential 3

Company Overview

Pratibha Industries was established as a proprietory firm by Mr. Ajit B. Kulkarni to capture a share in the upcoming Infrastructure Industry in India

Pratibha Industries Ltd. (PIL) was incorporated in 1995 and it took over Pratibha Industries the partnership firm in 1999

Today PIL is a well established, and the only listed infrastructure company with a backward integration into manufacturing of saw pipes and a proven track record of delivering complex infrastructure projects since 2 decades

PIL’s core expertise is in the areas of water supply and environmental engineering, urban infrastructure, tunnels, high rises, airports , surface transport, roads and manufacturing saw pipes. Our Company operates on various models such as BOT, PPP Projects, turnkey projects etc.

Proven track record of 20+ completed major projects and 40+ ongoing projects with an order book of INR 42000 mn in Infrastructure and approximately INR 1,000 mn in saw pipes division as on Dec 31, 2010.

Gross revenue of INR 10,134 mn (FY 2010) with a revenue CAGR of 50% (FY 2007 – 2010) with a PAT of INR 565 mn for the same period.

PIL is an ISO 9001:2000 certified by Moody’s and the quality management system of the saw pipe manufacturing facility is certified by the American Petroleum Institute

ISO-14001:2004 certification for Environment Management System and OHSAS 18001:2007 certification for Occupation Hazard and Safety Management Systems

Winner in the ‘Urban Infrastructure’ category for 24X7 water supply scheme for Navi Mumbai – Essar Steel Infrastructure Excellence Awards, 2010

Company Overview

Confidential

Company Structure

4

Business Units

BU1 – Water, Waste Water, Environmental Engineering and

Special Projects

Integrated Water Projects

Reservoirs

Sewerage Plants

Water Treatment

Saw PipesBU2 – Urban Infra and

Surface Transport

Railway Stations

High Rises

Airport Terminals

Malls

Water Projects

Oil & Gas

Recyclenation Plants

Water Management

Distribution Systems

Shareholding Pattern

Major Foreign Institutional Investors No. of Shares

Merrill Lynch Capital Markets Espana S.A. S.V. 3731029

India Investment Partners Limited A/c. ICG Q Limited 1055108

Warhol Limited (Chrys Capital) 6097561

Cresta Fund Ltd 3753512

Van Dyck (Chrys Capital) 3804348

Surface Transport

Confidential 5

Milestones

Entered construction business of public

commercial utilities - Railway Stations. Entered

Road Construction Business

Took over the running business of

partnership firm – Pratibha Industries

Awarded a contract by MJP in Water Supply

Management

Revenues crossed INR 8000 Mn

Set up (PPP) Public-Private Partnership

Division

QIP of INR 607 MnCommissioning of

Saw Pipe Division

Listed on BSE and NSE (IPO subscribed 26 times)

Enter in the Construction of Modern Buildings (i.e.Malls, Offices,

Residential Towers)

1995

2004

2001

1999 2007

2006 2009

Incorporation of our Company

Took over Teknoworks India – a mechanical engineering firm – to

provide backward integration

ISO 9001: 2000 certification

2010

QIP/Placement of Rs.150 crs and in Dec’10 secured maiden

international order worth Rs. 352 crs from

Dubai.

Confidential

Our Key Strengths

• Operational capability in different types of infrastructure projects

• Experienced management team with proven execution capabilities

• Increasing and diversified order book• Large fleet of owned machineries and equipments• Geographical benefits• Stellar financial performance over a period of time generating

value for shareholders

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Experienced Management Team with Proven Execution CapabilitiesEx

ecut

ive

Dire

ctor

sN

on-E

xecu

tive

Dire

ctor

s

Board of Directors

Mrs. Usha B. Kulkarni Chairperson

Mr. Ajit B. Kulkarni Managing Director

Mr. Vinayak B. Kulkarni Whole Time Director

Mr. Rohit Katyal Whole Time Director

Mr. Awinash M. Arondekar Independent Director

Mr. Shrikant T. Gadre Independent Director

Mr. V.B. Parulekar Independent Director

Dr. S.L. Dhingra Independent Director

Mr. V. Sivakumaran Independent Director

Confidential 8

Strong Financial Performance

CAGR FY07 – FY10: 40%

CAGR FY07 – FY10 : 50%

CAGR FY07 – FY10 : 57%

Revenue EBIDTA

Business Wise Break - upPAT

Confidential

Nine Months Financial Performance ending on 31.12.2010

Profit & Loss Amt. (Rs. In million)

Income From Operations 8836.88

Operating Expenses 7570.02

EBITDA 1266.86

Depreciation 126.50

Financial Charges 514.23

PBT 626.13

PAT 440.22

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Confidential 10

MassHousing

Road Construction

Water Supply

Infrastructure SawPipes

Public PrivatePartnerships

Urban Infrastructure

& Surface Transport

Water Supply Management & Environmental

Engineering

Infrastructure

Business: 2002 Business: 2011

Business Matrix

PIL has grown from a water supply and construction company to an integrated infrastructure company

Confidential 11

BU1 – Water, Waste Water, Environmental Engineering and Special Projects

BU

1 –

Wat

er &

Env

ironm

enta

l En

gine

erin

g

Bus

ines

s Ve

rtic

als

PIL undertakes fully integrated water supply management and environmental engineering projects

Overview

Revenue – BU1

Our Company covers the entire gamut of the Water Supply system from Pipelines, Sewerage Plants, Reservoirs, Water Treatment, Recyclenation Plants, Water Management, Distribution Systems, Integrated Water Projects to Tunnels

Implement projects from designing to construction to maintenance

We execute these projects on Annuity/Deferred and on cash contract basis and BOT all over India

Some of the prominent projects executed in this segment are NMMC Pipeline, Sarita Vihar Water Supply, Barve Ambernath Pipeline, Indore Water Supply, Gujarat Water Supply

Gujarat Water Supply

BU

2- U

rban

Infr

astr

uctu

re &

Su

rfac

e Tr

ansp

ort

Saw

Pip

es

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BU2- Urban Infrastructure and Surface Transport

Executed prominent projects for government and private sector

Overview

Bandra Terminus

Revenue – Urban Infrastructure and Surface Transport

This business vertical includes constructing airport terminals, railway stations, high end residential and commercial high rises, malls, city roads, flyover and bridges for third parties

Tie-ups with vendors to provide complex custom built structures We cater to private as well as government entities Planning to bid for larger sized projects on stand alone or through JV’s

for NHAI and other authorized agencies Some of the prominent projects undertaken by us include Mumbai,

Delhi and Amritsar Airport, Airoli and Ghansoli Railway Stations, Nirmal Lifestyle Mall, Lanco Mall, Green Building Commercial, BKC, Imperial Height Building at Andheri, Pune Solapur Highway Road, Sangamwadi Bridge, Katraj Road and Bibewadi to Kondhwa Road etc

Mumbai Airport, Mumbai

Mumbai Airport, Arrival Terminal

Bus

ines

s Ve

rtic

als

BU

2- U

rban

Infr

astr

uctu

re &

Su

rfac

e Tr

ansp

ort

Saw

Pip

esB

U1

– W

ater

& E

nviro

nmen

tal

Engi

neer

ing

Confidential 13

Saw Pipes

Our Company started the saw pipes division in 2007 as a backward integration for water management projects

We have an installed pipe-forming capacity of 90,000 MTPA and a 3LP coating division with a capacity of 1.8 mn. sq. mtrs. per annum

Our HSAW pipes can be used in the water supply management projects and oil and gas transmission

Our Company has obtained API 5L certification from ‘American Petroleum Institute and is an approved supplier of gas pipes to GAIL

We plan to tap export markets such as Turkey, Oman & Middle East

Saw Pipes are used in the water supply management segment as well as in oil and gas transmission

Overview

Hydraulic Piling Rig

Concrete Boom Placer and Piling Rig

Revenue – Saw Pipes

Saw Pipe Coating Division, Wada

Bus

ines

s Ve

rtic

als

BU

2- U

rban

Infr

astr

uctu

re &

Su

rfac

e Tr

ansp

ort

Saw

Pip

esB

U1

– W

ater

& E

nviro

nmen

tal

Engi

neer

ing

Confidential 14

Some of our Prestigious Completed Projects

Use of innovative technology to complete complex structures

Confidential 15

Projects Under Execution

Airports, Tunnels, Pipelines, High Rises Projects undertaken across the country

Confidential 16

Business Strategy

Emerge as a leader

Drive Revenues andMargin Expansion

Enter new niches in EPC Pursue overseas opportunities in existing niches

Develop diversified PPP portfolio in core niches of Water Supply & Urban Development

Develop Proprietary Skill Sets through R & D, Alliances and Continuous Human Resources Development - creating Sustainable Competitive Advantage

Leverage Leadership in Water and Urban Infrastructure Segments to maintain a robust, high margin core order book

Confidential 17

Strong Order Book of Infrastructure & Construction (As on Dec 31, 2010)

Business Verticals

Water and Environment

al Engineering

Urban Infra

Road Total

Outstanding Work (INR in Mn)

25767 16,255 360 42,382

Business Verticals Outstanding Work (INR in Mn)

Government Contracts 33,076

Private Contracts 9,304

Total 42,382

Business Verticals

Outstanding Work (INR. in Mn)

Maharashtra 15,531

Rest of India 19,929

Dubai 6,922

Total 42,382

Our Company has a strong order book, with an order book to revenue (FY10) ratio of 3.5xWe have diversified our order book globally with the maiden order from Dubai as well as have strong foothold in India

across 12 states with less than 50% in Maharashtra.

Growth in Order Book Business Wise Break – up

Client Wise Break - upGeographical Break – up

Confidential

Global Strategy

• Secured maiden overseas order of Rs. 352 crores from Dubai Electric & Water Authority for construction of Al-Ghafat water reservoir.

• Pratibha is planning to expand its global operations & hopes to secure more orders in middle east countries like Saudi Arabia, Oman, Qatar, etc.

• Capitalise on its strong track record in executing complex infrastructure projects on EPC basis in water supply and Urban infrastructure sectors

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Urban Infrastructure

Key Customers

Surface Transport

Saw Pipes

Water Supply Management

Prominent names in the industry choose to BUILD their growth with Pratibha

Indore Municipal Corporation

J & K Economic Reconstruction

Agency

Delhi Jal Board

Karnataka Urban Water Supply & Drainage Board

MMRDA MSRDCPune Municipal CorporationIndore Development Authority

Petron Civil EngineeringGAIL Kalpataru Power Transmission

National Buildings Construction Corporation

Delhi Metro Rail Corporation

Airport Authority of India

Public Health Engineering Department, Rajasthan

Gujarat Water Supply and

Sewerage Board

Jabalpur Municipal

Corporation

Navi Mumbai Municipal

Corporation

Municipal Corporation of

Greater Mumbai

Indian OilLarsen & Toubro

Confidential 20

Pan India Presence

1

35

6

7

8

9

11

1210

6) Gujarat● New International Terminal Building at SVPI Airport, Ahmedabad

10)Uttar Pradesh● Water Treatment Plant, Meerut

11) Bihar● Construction of ESIC Medical College, Patna

4) Delhi ● Expansion of Delhi International Airport● Laying of Pipeline for Delhi Jal Board●Muti Level Parking in New Friends Colony

and New Delhi Railway Station ●High end commercial complex and car park

on BOOT basis for DMRC’s City Airport Terminal at New Delhi Railway Station

5) Rajasthan● Water Supply Management project at Nagaur

1) Jammu & Kashmir● Nisphat Doodhganga Water Supply Scheme

PIL has spread its wings across India and remains the preferred partner for urban areas

9) Madhya Pradesh● Urban Water Supply & Environmental Improvement Project● Construction of Link Road, Indore ● Clear water raising mains and feeder mains

8) Karnataka● Water Supply & Sewerage Project, Bangalore

7) Maharashtra ● Andheri-Kurla Link Road● Imperial Heights Building, Oshiwara● C- 70 Building, BKC● Tunnel from Malabar Hill to Cross Maidan● Irla Pumping Station● Water Pumping Station at Bhandup● High Rise Residential Tower, Borivali

12) Assam ● Construction of Administrative Block, Lepetkata, Assam

3) Haryana●Designing, Constructing, Testing, Commissioning of Water works at Chadu Budhera, Gurgaon,

4

2) Punjab●Expansion of Amritsar airport

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Industry Outlook - Infrastructure

Government of India has made a provision of Investment of USD 400-500 bn (2.3x the estimated expenditure in the 10th plan) in the infrastructure sector during the 11th Five Year Plan

This is to be achieved through a combination of public investment, public-private partnerships (PPP) and exclusive private investment, wherever feasible

USD bn @ Rs. 48/$ Sectoral share (%)

Sectors 11th plan 11th Plan

Roads and bridges 65.4 15.3%Railways (incl. MRTS) 54.5 12.7%Irrigation (incl. WD) 52.8 12.3%Water supply and sanitation 29.9 7.0%Airports 6.5 1.5%Total 428.4 100.0%

Mega Infrastructure Outlay - India Spending on Infrastructure in 11th Five Year Plan

Infrastructure is the backbone of a growing India

Water sector in India grew 18 - 20% in the past three years

There is need to create infrastructure to ensure sustainable water supply for the country’s agricultural, industrial and domestic use

The scope in the sector has extended to distribution systems, water treatment, waste water treatment, recycling plants, sewerage plants and water management

11th Five Year Plan estimates an investment of INR 1.4 trillion in the sector and aims to provide drinking water, sanitation and waste management to 100% of the urban population

Water Supply - Environment Engineering - India Urban Infrastructure

India has INR 300 mn urban residents comprising about 30% of the population and contributing over 60% to GDP

The JNNURM involves investment of INR 1.2 trillion over FY 05 -12 (Maharashtra’s share is 10%)

Opportunities in tier II category; Bangalore, Chennai, Hyderabad and Jaipur are expected to have PPP opportunities in the short term in a large way

The government plans to spend INR 300 bn on the airports sector during the 11th Five-Year-Plan. Of this, INR 140 Bn is slated for upgrading the 35 non-metro airports and modernizing aeronautical facilities

80% of demand in the real estate sector arises from the housing segment. The affordable housing sub-segments have been on an uptrend since May’ 09

Surface Transport

The NHAI plans to award orders for 36,500 km in the next three years amounting to INR 2.6 trillion

Most road projects to be developed would be through a public-private partnership (PPP) on the BOT – annuity or toll mode Source: 11th Five Year Plan, Planning Commission Report

Confidential 22

Key Highlights

Increasing and

diversified order book

Proven execution

capabilities since 2

decadesOperate with

margins better then the industry

Huge macro potential to ride upon

Large fleet of owned

machineries

Reputed client base -Government and Private

Experienced management

team

Confidential 23

Our Subsidiaries & Joint Ventures

Wholly Owned Subsidiaries Joint Ventures/SPVsPratibha Infrastructure Pvt. Ltd. Pratibha China State JV

Prime Infrapark Private Ltd. Pratibha Ostu Stettin JV

Patel Pratibha JV

Gammon Pratibha JV

Niraj Pratibha JV

ITD Pratibha Consortium

Pratibha SMS JV

Pratibha GINKJI Consortium

KBL PIL Consortium

Unity Pratibha Consortium

Unity Pratibha Multimedia JV

Pratibha Pipes & Structural Consortium

Pratibha JV

Pratibha Al – Ambia JVBhopal Sanchi Highways Pvt. Ltd.

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Appendices

Confidential

Balance Sheet (INR in Mn.) FY 2007 FY 2008 FY 2009 FY 2010

Equity Share Capital 143 167 167 167

Reserves and Surplus 806 1,672 2,080 2,587

Loan Funds 1,363 1,328 2,484 4,347

Net Fixed Assets 214 921 1,455 2,890

Current Assets 2,673 4,378 5,618 8,279

Current Liabilities 878 3,283 2,977 4,103

Profit & Loss Account (INR in Mn.) FY 2007 FY 2008 FY 2009 FY 2010

Income from Operation 3,004 5,651 8,058 10,072

Growth 72.5% 88.1% 42.6% 25.0%

Operating Expenses 2,637 4,991 7,142 8,643

EBIDTA 367 660 916 1,429

Margin 12.2% 11.7% 11.4% 14.2%

Other Income 4 1 50 63

Depreciation 11 36 71 140

EBIT 359 624 895 851

Financial Charges 123 223 341 522

PBT 236 402 554 766

Margin 7.8% 7.1% 6.9% 7.6%

Tax 32 59 107 201

PAT 204 343 447 565

Margin 6.8% 6.1% 5.6% 5.6%

Financial Highlights (Consolidated)

Income from Operation

(FY 2007–10)CAGR of 50%

EBIDTA (FY 2007–10) CAGR of 57%

PAT (FY 2007–10) CAGR of 40%

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Disclaimer

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

For any further information / queries regarding this document please contact:

Pratibha Industries Limited, Univeral Magistic, 13 th & 14th Floor, Off. Eastern Express Highway, P.L. Lokhande Marg, Govandi,Mumbai – 400071.