Presentation May 09

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CONFIDENTIAL \\ssng14p20001\COVSEA$\IBDUSER\SINGAPORE \Temasek\Logistics Consolidation\Strategic Options for Logistics v9.ppt - Jul 07 2002 - 16:30

CONFIDENTIAL | MAY 200

Presentationby

Jaiprakash Associates Limited


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Disclaimer

This presentation contains statements that constitute forward looking statements including, withoutlimitation, statements relating to the implementation of strategic initiatives, and other statements

relating to the Companys future business developments and economic performance. All statementsregarding the expected financial condition and results of operations, business, plans and prospects ofthe Company are forward-looking statements.

These forward-looking statements include statements as to the Companys business strategy, theCompanys revenue and profitability, planned projects and other matters discussed in thispresentation regarding matters that are not historical fact. These forward-looking statements and anyother projections contained in this presentation (whether made by the Company or any third party)involve known and unknown risks, uncertainties and other factors that may cause the Companysactual results, performance or achievements to be materially different from any future results,performance or achievements expressed or implied by such forward-looking statements or otherprojections.

The Company undertakes no obligation to publicly update or revise any of the opinions or forwardlooking statements expressed in this presentation as a result of new information, future events orotherwise.

Exchange Rate: 1 USD = 48 INR


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1. Company Overview


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Corporate Structure (Post Amalgamation)

BOO Power Infrastructure

JaypeeInfratechLimited

96.9%

Cement

HimalayanExpressway

Limited

100%

4.3 MTPA

Joint Ventures

Coal Mining

Joint Ventureswith State Govt.

For 1320 MW

Thermal Power

Jaiprakash PowerVentures Limited

(400 MW-Hydro in Operation)(1320 MW Thermal Under Implementation)

80.56%

JKHCL (1000 MW-Karcham

Wangtoo Project

Jaypee

PowergridLimited

23%

ArunachalProjects

(3200MW)

Meghalaya

Projects(720MW)

Jaiprakash HydroPower Limited*

(300 MW - Baspa-II)

63.3%

51%

74%

89%

JaypeeGanga Infra.

Corp. Limited

100%

Bina Power(1250MW)

100%

Cement 29.2 MTPA

Jaiprakash Associates Limited

E&CReal Estate &Hospitality

Market Cap. (22 May 09) - JAL: INR 20,521Crs (US$ 4.27 Bn.);JHPL:INR 2,634 Crs (US$ 549 Mn.);JHL:INR 929 Crs (US$ 194 Mn.) * Listed Compan

(Yamuna Expressway Projec

55.36%

(44.64%held byJAL)


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2. Infrastructure and Real Estate

a) Leading Infrastructure Company in India

b) 54% share in 10th Five year plan Hydropower

Projects

c) 165 km Expressway connecting Noida to Agra with400 Million sq feet Real Estate Development

d) 1,047 km Expressway connecting Noida to Balliawith 3.3 Billion sq feet Real Estate Development

e) Developing South Asias first Formula-1 Circuit


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The Leading Infrastructure Company in India

BHUTAN

Baghalihar II450MW

Sardar Sarovar

1,450MW

Karcham-Wangtoo

1,000MW

Alimineti Madhava

Reddy Project (51 Km Long Tunnel)E&C Projects

underexecution

Sidhi Thermal Power1320MW (2X660MW)

Yamuna Expressway165 km

Zirakpur-Parwanoo

Toll road- 27 km

Roads&

Real Estate

Thermal Power

PROUD TOPARTICIPATE IN:

Largest Concrete Damin India SardarSarovar

Largest Rockfill Damin India Tehri

Largest UndergroundPowerhouse in IndiaNaptha-Jhakri

Second LargestSurface Powerhousein India Indira-Sagar

Ganga Expressway at 1,047 km, the largestinfrastructure project in the country at

Rs 60,000 Crs (US$ 12.5 Bn) is to be executed by JAL

Jaypee Greens

Real Estate

Bina Thermal Power 1250

MW (5X250MW)

PARTICIPATION ON EPC/CONTRACT/BOO BASIS TO ADD 8840 MW TO THE NATIONBETWEEN 2002-2008

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AGRA

MATHURA

DISTRICTAGRA

DISTRICT HATHRAS

SADABADDISTRICT MATHURA

TAJ ECONOMIC ZONE

DISTRICT ALIGARH

INTERNATIONALAIRPORT

HARYANA

CHHATA TAHSIL

GAUTAM BUDH NAGAR

GREATERNOIDA

NOIDA

5

432

1

Yamuna Expressway Project

NEW DELHI

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

Estimated total cost: Rs. 9,739 Crs. (US$ 2.02 Bn.)

Rights to concessionaire for 36 years

Ribbon development of 25 Million Sq Mtrs of land along the Expressway

Five or more locations (one location either Noida or Greater Noida)- 90 year lease

LAND FOR DEVELOPMENT AT 5LOCATIONSTOTAL 6250 ACRESTO BE DEVELOPED BY JAL

GREATER NOIDA TO AGRA YAMUNAEXPRESS TO BE DEVELOPED BY JAL

NOIDA TO GREATER NOIDA EXPRESSWAY-COMPLETED

LEGEND :

PROPOSED METRO UPTO JEWAR

METRO Currently under Construction up to Noida City Centre

METRO extension proposed to planned Airport in JEWAR

SPORTS SDZ (1000 Ha.)

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Yamuna Expressway - Project Cost & Means of Finance

S.N. Description Rs. Crs1 Cost of land Expressway & Structures 900

2 Road Construction Cost 5,300

3 Preliminary, Preoperative & Contigencies 470

4 Interest during Construction 1,350

5 Cost of land For development 1,719Total 9,739

S.N. Description Rs. Crs.

1 Equity/ IPO/ Pvt. Placement 2,250

2 Inflows from Real Estate 1,489

3 Senior Debt/Term loan 6,000

Total 9,739

Project Cost

Means of Finance

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Yamuna Expressway Progress as on 21.05.09

S.N. ActivityTotal Quantity

(Lac Cum)On 30.03.08(Lac Cum)

%On 21.05.09(Lac Cum)

%

1 Clearing & Grubbing 1,735 Ha 33.50 Ha* 2% 1093 Ha# 63 %

2Earthwork inEmbankment

351.51 5.94 2% 156.33 44 %

3 Fly Ash 27.42 - - 3.28 12 %

4 Structural Concrete

a) Culverts 0.61 0.02 4% 0.19 31 %

b)VehicularUnderpasses/CartTrackUnderpasses

1.83 0.04 2% 0.23 13 %

c) Minor Bridges 1.13 - - 0.30 27 %

d) Interchanges 3.84 - - 0.39 10 %

* Possession On 30.03.08: Land For Expressway 160 AcresLand For Development 914 Acres

# PossessionOn 21.05.09: Land for Expressway 3,991 Acres

Land for Development 1,150 Acres

Work is continuing in the entire stretch of 165 km

Amount spent on Yamuna Expressway Project as of 30 Apr 09 Rs. 3,700 Crs

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JPSK Sports SDZ 1000 Hectares Development Opportunity

Promoted by JPSK Sports Pvt. Ltd., asubsidiary of Jaiprakash Associates Limited.

1,000 Ha Sports Special Development zone,located 11 km from Zero Point of theupcoming Yamuna Expressway. Entire landrequirement in place.

Facilities to include a Formula 1 Race Track &Hockey Stadium with an estimatedinvestment of Rs. 1,700 Crs

First F-1 Race scheduled in 2011.

Circuit being designed by WorldRenowned architect Hermann Tilke.

Opportunity to develop 650 Hectaresof Real Estate.

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1

1,047 Km expressway

35 year concession period

Rights of development of an estimated 30,000 acres of land along the Expressway

3.3 Bn. Sq. Feet Built-up Area

Ganga Expressway Project

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Real Estate Development

Locations Proposed Development

1. Jaypee Greens 8 Mn Sq Ft2. Yamuna Expressway 400 Mn Sq Ft

3. Ganga Expressway 3.3 Bn Sq Ft

Locations

Total Area Sold

till 30 Apr 09(Mn sq. ft.)

Collections

till 30 Apr 09(In Rs. Crs)

Average

Realization(Rs. /Sq. ft.)

1. Jaypee Greens 2.90 993 5,500

2. Yamuna Expressway 5.45 1,067 5,024

Total Area Sold in Apr 09 3.01 Lac sq. ft.


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Power Business at a Glance

S.N. Project FuelCapacity

(MW)RegulatedTariff (MW)

MerchantPower(MW)

VERs/CERs

COD

1. Baspa-II Hydro 300 300 - 1.00 Mn VERs 2003

2. Vishnuprayag Hydro 400 400 - 1.32 Mn.VERs 2006

3. Karcham Wangtoo Hydro 1000 800 200 3.35 Mn. CERs* 2011*

4. Bina Power Thermal 1250 625* 625* - 2011**

5. Jaypee Nigrie Thermal 1320 660* 660* CERs expected 2012*

6. Karchana Thermal 1980 1320* 660* 1.5 Mn. CERs 2014*

7. Bara Thermal 3300 1980* 1320* 2.5 Mn. CERs 2014*

8. Lower Siang Hydro 2700 1350* 1350* TBD 2015***

9. Hirong Hydro 500 250* 250* TBD 2015*

10. Kynshi Stage -II Hydro 450 225* 225* TBD 2016*

11. Umngot Stage -I Hydro 270 135* 135* TBD 2016*

TOTAL 13470 8045 5425

* Expected** 500 MW Phase-I by 2011, *** 900 MW Phase-I by 2015

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Power Business Summary of Project Status

Project Land WaterEnvironment

ClearanceDPR/EPC

OrderFuel PPA

Baspa II 300 MW PROJECT IN OPERATION

Vishnuprayag400MW

PROJECT IN OPERATION

Karcham Wangtoo1000 MW

20% Merchan

Lower Siang2700 MW

- Approval for pre-constn activitiesgranted by MOEF

DPR submittedto CEA

50% Merchan

Hirong500 MW

- Same as aboveAcresofCanada

appointed forDPR

preparation

50% Merchan

Bina Power1250 MW

Being revalidated GoMP-42%

50 % Merchan

Nigrie Thermal1320 MW

65% Acquired.Balance in

adv. stage ofacquisition

TOR cleared by MOEF DPR Ready ,ICB underreview

GoMP 37.5%50%Merchan

Karchna Thermal1980 MW

Applied for 33% MerchanBara Thermal

3300 MW Applied for 38% Merchan

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Hydro Projects Delivering Returns in Excess of 30%

Particulars JHPL JPVL

FY 2008 FY 2009 FY 2008 FY 2009

PAT* (Rs. Crs.) 152.75 149.88 190.55 186.47

Paid Up Capital (Rs. Crs) 491 491 532.5 534.89

ROE 31% 31% 36% 35%

JHPL - BaspaII HEP Awarded the Gold Shield by the Ministry of Power for

outstanding performance in 2007-08.

JHPL - Baspa II HEP Accredited for 1 million VERs per annum.

JPVL Vishnuprayag HEP awarded 1st Prize in Excellence in Fast TrackPower Project Execution Hydro in the Indian Electrical and ElectronicsManufacturers Association (IEEMA) Power Awards 2008.

JPVL - Successfully securitized receivables from the Vishnuprayag HEP forRs. 1,650 Crs.

JHPL Baspa II securitization of receivables is underway. Expected to netRs. 1,100 Crores.

* PAT excludes extraordinary items


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Year CEMENT (Mn. Tonnes) CAPTIVE

POWERPLANT(MW)

InstalledCapacity

Production

FY-08 9.00 6.77 88 MW

FY-09 13.50 7.60 154 MW

FY-10 24.30 13.94 245 MW

FY-11 26.80 23.00 327 MW

FY-12 33.50 30.80 327MW

Installed Capacity & Expected Production by year

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Cement Capacity Rollout by FY-12 (In Mn Tonnes)

Zone Name of Plant Existing FY-10 FY-11 FY-12 Total

Central Zone

Rewa Complex 7.00

13.10UPCP 3.00

Sidhi 2.00

JP Super Dalla 1.10

North Zone

Baga 1.50

7.20

Bagheri(G) 2.00

Panipat(G) 1.50Roorkee (G) 1.20

Sikanderabad(G) 1.00

West Zone GACL 1.20 1.205.40

Wanakbori(G) 1.50 1.50

East Zone Bhilai JV 2.20 4.30Bokaro JV(G) 2.10

South Zone Balaji 3.50 3.50

Total New Capacity 9.60 2.50 6.70

Total (in MTPA) 14.70 24.30 26.80 33.50 33.50 1

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Productivity gains through focus on principal components of cementcost

Installation of modern pyro processing system in all the new

installations having lower coal consumption MSW plant at Chandigarh to produce pallets for kiln firing at Baga

Recently allotted Mandla (North) & Mandla (South) Coal Blocks forCement business which will become operational from 2011

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

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

Existing split location grinding/blending plants near the market &flyash source have resulted in reduced freight cost.

New split location grinding/blending units at Panipat, Bagheri,Roorkee, & Wanakbori which are close to consumption centres aswell as near source of fly ash

10 MTPA of the new capacity is entitled to various fiscal benefits.

10 year exemption on Sales Tax , Royalty & Electricity Duty on CaptiveThermal Power Plants for 3 MTPA UP Cement Project

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

24%

9%

11%

24%

19%

13%

Existing Captive Thermal Power Plants have reduced the power costfrom Rs 406 PMT in 2001-02 to Rs 293 PMT 2008-09.

Captive Thermal Power Plants installed at all new Cement plants

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

COAL COST

DISTRIBUTION

COST

TAXES &DUTIES

POWER

RAWMATERIAL,

FLYASH

OTHERS

67%

100%

CEMENT COST DETERMINANTS

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Cement Volume Growth Performance

March 09 volumes stood at 7.90 Lac Tonnes

16 % over March 08.

15% over Feb 09.

Q4 FY 09 volumes stood at 22.2 Lac Tonnes

12% over Q4 FY 08. 17% over Q3 FY 09.

JAL Cement sales have increased by 13 % to 76.46 Lac Tonnes in FY 09.

EBIDTA has increased to Rs. 1,135/ Tonne in Q4 FY 09

95 % Power was supplied by Captive Power Plants

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5. Strong Financial Profile

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Details FY07 FY08Change

in %FY08 FY09

Changein %

Net Revenue3594(749)

4,274(890)

19%4,274(890)

6,167(1,285)

44%

EBITDA1040(217)

1,386(289)

33%1,386(289)

2,086(434)

51%

PBT 620(129) 843(176) 36% 843(176) 1,271(265) 51%

EPS (Rs) 19.10 5.42* 42% 5.42* 6.42** 18%

Rs. in Crs (USD in Mn)

Strong Financial Performance FY 2008-09 (Amalgamated)

*On Equity Shares with a face value of Rs 2 each; ** On Equity Shares with a face value of Rs 2 each at expandedshare capital post-amalgamation of 140.18 Cr shares. On original share capital, the EPS is Rs. 7.48.

Details JHPL JPVL JHL

Revenue 317.91 418.73 174.14

EBITDA 294.49 256.21 46.00

PAT 142.86 186.47 21.50

Dividend Declared 15% 20% -

OPERATING SUBSIDIARIES PERFORMANCE IN FY 2009 (Ending Mar. 31, 2009) Rs. in Crs

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JAL Projections

Rs Crores(Mn USD)

E&C Cement

EBITDARevenue

Real Estate

237721

1,1911,631

753

752

1,591

2,026

301

448

206

5931

87

123

457

307

412

413

2008-

Actual

2009-

Prov.

2010 2011

1,386(289)

4,639(966)

3,582(746)

2,086

(435)

1,7302,862

4,825

6,9531,950

2,237

5,004

7,175

256

440

925

1,360

31

171

214

336

457

307

412

413

2008-

Actual

2009-

Prov.

2010 2011

4,274(890)

6,167(1,284)

11,381(2,371)

16,236(3,383)

Others (including Div.)Hotels & Hosp.

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Number of Shares outstanding was 1183.80 Mn of Rs 2 each as of 22 May 2009

FCCB-I Conversion at USD 97.94 Mn out of USD 100 Mn (97.94%) as of 22 May 2009

FCCB-II Conversion at EURO 160.27 Mn out of EURO 165 Mn (97.13%) as of 22 May 2009

FCCB-III Conversion at USD 4.5 Mn out of USD 359 Mn* (1.25%) as of 22 May 2009

(*The Company has bought back & cancelled FCCBs (Series III) of the face value of USD 41 Million )

Shareholding Pattern (May 15, 09)

Post Amalgamation Shareholding:

Promoters: 37.65%, Trust: 14.35%, Public: 48%

Public/

PCB's,

17.52%

FII's,

24.69%

Promoter

Holding,

45.12%

MF's/

Banks,

12.68%

Market Capitalisation (Rs. Crs)

20,521

26,353

11,69310,083

3,454

1-Apr-05 1-Apr-06 1-Apr-07 1-Apr-08 22-May-09

($ 720 Mn.)

($ 2.1 Bn.) ($ 2.4 Bn.)

($ 4.27 Bn.)

Continuously Creating Shareholder Value

($ 5.5 Bn.)


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JAL Has Excellent Growth Opportunities

Indias strong consistent economic growth and infrastructure development

has provided JAL with tremendous opportunities

Engineering & Construction Established track record as the leading hydropower E&C company

Clear competitive advantage

Immense growth potential in Indian hydropower

Power

Over 13,000 MW portfolio with 60:40 thermal-hydro mix and 40% merchant power

Expressways and Real Estate Indias two largest expressway projects Ganga Expressway and Yamuna Expressway

totaling 1250 km approx. to be executed by JAL

Construction opportunity in excess of Rs 650 Billion

400 Million sq feet of Real Estate development as part of development of 6250 acres ofland along Yamuna expressway.

3.3 Billion sq feet real estate development along the Ganga Expressway

Cement New cement plants in fast growing markets of the North,Central,Eastern & Western Zones

will make JAL the 3rd largest cement group in India

Dominant low cost producer of cement

Strong cement demand in JALs natural marketing zone

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THANK YOU

Documents

Presentation May 09