Investor Presentation July 2013

EVOLVED

We've

Agenda
n Company Overview

n Market Opportunities

n Business Review

n Challenges

n Opportunities

n Annexure

Investor Presentation July 13

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Company Overview

n About Ashiana

n Accolades

n Promoters

n Business Model

Investor Presentation July 13

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About Ashiana
Key Statistics
n FY 13 Networth ` 268.07 Crores n FY 13 Revenues ` 161.42 Crores n FY 13 Net Income ` 33.15 Crores n Market Cap (31st Mar 2013) ` 466.46 Crores n Employees (31st Mar 2013) - 597

Shareholding Patten
Promoters Individuals Non Institutions
22% 67%

2% 9%

FII

Business Presence
20 18 16 14 13.5 12.27 9.4 8.16 5.48 4.23 7.2 6.53 5.26 10.22 7.07 10.74 17.84 14.62 18.65

come G le In ro u idd
p

In lacs sq. ft

12 10 8 6 4 2 0 FY06 FY07 FY08 FY09 FY10

Comfort Homes

nior Citizens Se

4.41

Senior Living
FY11 FY12 FY13

Equivalent Area Construction (EAC)

Area Booked

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Accolades

Awarded as Best Affordable Housing in all INDIA & also in NCR category ASHIANA AANGAN by CNBC AWAAZ REAL ESTATE AWARDS 2012

Awarded as Indias Best Theme Based Township UTSAV - BHIWADI by CREDAI REAL ESTATE AWARDS 2012 (Non-metro Category)

FORBES rates ASHIANA among Asias 200 Best Under a Billion Dollar Companies twice in a row (2010 & 2011)

Awarded as Indias Best Residential Project NORTH - ASHIANA AANGAN EAST - ASHIANA WOODLANDS by ZEE-BUSINESS RICS AWARDS 2011

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Promoters
Vishal Gupta He is the Managing Director of the Company. A graduate from Sydenham College (Mumbai) and an MBA from FORE School of Management (Delhi), he is acknowledged for his in depth understanding of the real estate business, customer psychology and market behavior. He has a great eye for detail and takes a keen interest in the conceptualization and planning of new housing projects for the company. He is associated with Ashiana for the last 18 years and actively involved in finance, marketing, project execution and general administration. He has been instrumental in present growth of the company. Ankur Gupta He is the Joint Managing Director of the Company. A Bachelor in Business Administration from Fairleigh Dickinson University (USA) and an MS in Real Estate from New York University (USA). He focused on residential projects for senior citizens during his research work at University. His experience was put to good use at Utsav and currently he leads Marketing, HR and IT of the Company. He also looks after hotel and facility management segments. He has around 13 years experience and is actively associated with Ashiana for the last 11 years. Varun Gupta He is the Whole Time Director of the Company. He is a Bachelor in Science from Stern School of Business, New York University (USA). He majored in Finance and Management and graduated with the high academic distinction, Magna Cum Laude. He then joined Citigroup in Commercial Mortgage Backed Securities where he was underwriting commercial real estate. After a year and a half of this rich experience, he has joined Ashiana where he is looking after Land and Finance for the last five years.

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Business Model
Low Capital Employed Joint development model lowers investment requirements. Operate in locations where land is a smaller component of total cost. Facilities Management Selling a quality life style rather than just a house. Provides inputs to development team to improve quality over the long-term.

Land is Raw Material Execution focused model instead of a land-banking model. Targeted land inventory of 5-7 year of current year's execution plan.

In-House Construction Capabilities Allows cost and quality control. Flexibility in execution with faster adaptation to changing industry dynamics.

Direct Sales Team In-house team selling to actual users and long-term investors instead of a broker driven model selling to speculative investors. Provides better market insights in an industry starved of quality information.

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Market Opportunities
Large Population in earning bracket

Demand For Homes

Mid Income Group

Increasing Urbanization
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Indian Demographics

Growth of the working-age to non-working age ratio in India, 1950-2050

Demographic Pattern
350 280 210 140

332.53

Share of older Indians

Millions

135.58 99.64

70 0

2011

2020

2050

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Indian Middle Class

More than 100 Million households will join the Indian middle class All India households by Income bracket
100% 90% 80% 70% % Households 60% 50% 40 40% 30% 20% 10% 0% 2000 2008 2020 2030 26 15 64 50 Deprived (<90) 32 Aspires (90-200) 31 34 29 Seekers (200-500) Middle Class 0 4 1 12 17 25 Strivers (500-100) 2 1 3 6 7

Globals (>1,000)

Source: India Urbanization Econometric model

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Urbanization
The number of large cities in India is set to multiply
India No. of cities > 5m No. of cities > 1m No. of cities > 0.5m 1981 3 12 41 1991 4 23 55 2001 6 35 74 2011 9 50 94 2021 10 68 120 2031 17 85 142 2041 25 108 158 2051 36 129 165

Source : Census of India, Goldman Sachs economics Research. Share of India's GDP % Rupees in Billion
India will have 188 cities with population
100% 100% 15,903 29,100 238,041

between 0.55 Million in 2021 compared to 144 in 2011

With less than 1/3 of Indias people, its urban

80%

54
60%

46

42

31

areas generate over 2/3 of the countrys GDP and account for 90% of government revenues.
Rural

Urbanization in India has expanded rapidly as

40%

20%

46

54

58

69

Urban

increasing numbers of people migrate to towns and cities in search of economic opportunity (Source: Eleventh Five Year Plan)

0% 1990 2001 2008 2030

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Business Review

n Operational Review

n Ongoing Projects

n Future Projects

n Financial Review

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Operational Review
20.00 18.00 18.65

17.83 14.62

In lakhs sq. ft.

16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 0.00 04-05 05-06 06-07 07-08 09-08 09-10 10-11 5.22 4.41 2.57 9.40 8.16 5.48 4.23 7.20 6.53 5.26 10.22 7.07 13.50 10.74

12.27

11-12

12-13

Equivalent Area Construction

Area Booked

Bhiwadi Jaipur

28% 38% 8% 5% 13% 8%

Jodhpur Jamshedpur Pune Lavasa Neemrana

Saleable Area of Ongoing Projects

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Operational Review

Area Booked (in lakhs sq ft)

20.00 17.83 18.00 16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 08-09 09-10 10-11 11-12 12-13 50,000 60,000 5.26 7.07 1,500 13.50 2,000 2,500 18.65 3,000

Average Realization per sq ft

2,699

2,070 1,906

2,190 2,055

Value of Area Booked (Rs in Lakhs)

1,000

500

50,335 08-09 09-10 10-11 11-12 12-13

39,038 40,000

30,000

27,736

20,000 14,633 10,023 10,000

08-09 09-10 10-11 11-12 12-13

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Operational Review (FY 2012-13)

Branding Ashiana launched new logo and unveiled its new identity on 27.01.2013 ACQUISITIONS
Bhiwadi - 1.03 Acres

RECOGNITIONS
Best Affordable Housing in NCR and India

Neemrana, Rajasthan 9.67 Acres Mango, Jamshedpur - 4.026 Acres Bhatawala, Jaipur 31 Acres Jagatpura, Jaipur 20 Acres Jodhpur - 8.56 acres

for Ashiana Aangan by CNBC Awards

Best Theme Based Township Non-

Metros for Ashiana Utsav in Bhiwadi, from CREDAI Real Estate Awards -2012

LAUNCHES
"Ashiana Aangan in Neemrana

APPROVALS
90A - Ashiana Town, Bhiwadi

"Anantara in Jamshedpur "Treehouse Residences in Bhiwadi

NA - Ashiana Navrang, Halol 90 A - Gulmohar Gardens, Jaipur 90A - Ashiana Dwarka in Jodhpur

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Ongoing Projects
As on Mar 31, 2013
Project Name Location Type Saleable Area 20.56 4.20 5.95 4.69 4.80 0.83 26.06 1.28 3.70 6.22 78.29 Area Launched 20.56 4.20 5.95 2.51 4.80 0.82 23.53 1.20 3.70 3.90 71.16 Area Booked 20.56 4.19 5.87 2.05 4.75 0.19 18.78 0.46 2.82 2.70 62.36 Expected Completion Time

Aangan Aangan Neemrana Amarbagh Anantara Brahmananda Marine Plaza Rangoli Gardens

Comfort Homes Comfort Homes Comfort Homes Comfort Homes Comfort Homes Retail Comfort Homes

Bhiwadi Neemrana Jodhpur Jamshedpur Jamshedpur Jamshedpur Jaipur Bhiwadi Jaipur Pune

Handed over first five phases, phase VI in Q1FY14 Construction has commenced. Handing over in CY15 Handed over first five phases, phase VI in Q1FY14 Construction has commenced. Handing over in two years Handed over Phase I, started handing over Phase II, Phase III in CY13 Construction has commenced. Handing over in two years Handed over Phase I, Phase II & III in CY13 & Other Phases between CY14 and CY15 Construction has commenced. Handing over in two years Phase I, II & III handed over, started handing over phase IV Started handing over first phase, Other Phases between CY13 and CY15

Treehouse Residencies Comfort Homes Utsav Jaipur Utsav Lavasa Tota * All Areas mentioned in lakhs square feet Senior Living Senior Living

Investor Presentation July 13

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Ongoing Project
Actual View

Project Location Project Type

: : :

Rangoli Gardens Near Vaishali Nagar, Jaipur Comfort Homes (G+4 and Stilt+12 Floors apartments with 2/3/4 BHK Units) 1592 226 Homes Handed over Phase I, Phase II & III in CY13 & Phase V &VI between CY14 and CY15 2,6065,686 sq. ft. May 2010 ` 1650 (Basic) ` 2930 (Basic) June 2015

No. of Homes Delivered till date Status

: : :

Saleable Area Project Started Launch Price Current Price (psf)

: : : :

Expected Completion :

Investor Presentation July 13

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Ongoing Project

Project Project Type

: Ashiana Aangan, Neemrana : Comfort Homes (Stilt+12 Floors with 2/3/4 Bedroom Apartments) : Ph I - 336 : 420,000 sq. ft. : Ph I - ` 2500 (basic) : Ph I - ` 2600 (basic)

No. of Homes Saleable Area Launch Price Current Price

Expected Launch Price: Ph II - ` 3000(basic) Expected Completion : June 2015 Status : Phase I launched for bookings last year with 336 homes all booked. Phase II got 90A clearance on July 7, 2013

Artistic View

Investor Presentation July 13

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Future Projects
As on Mar 31, 2013
Land Name and Location Land Area (In Acres) 55.00 10.13 40.63 10.65 31.25 5.27 8.56 19.78 181.27 Saleable Area (Lakhs sq ft) 39.00 7.50 31.49 6.43 11.25 4.00 5.40 15.00 120.07 Segment Location

Ashiana Town, Thada Bhiwadi Utsav, Kolkata Milakpur Land, Bhiwadi Ashiana Navrang, Halol Gulmohar Gardens, Jaipur Aangan Neemrana - II Dwarka, Jodhpur Vista Gardens Total

Comfort Homes/ Active Senior Living Senior Living Comfort Homes/ Senior Living Comfort Homes Comfort Homes Comfort Homes Comfort Homes Comfort Homes

Bhiwadi Kolkata Bhiwadi Gujarat Jaipur Jamshedpur Jodhpur Jaipur

Investor Presentation July 13

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Future Project

Project Project Type Saleable Area Project Started Launch Price(psf) Project Duration Phases Status

: Ashiana Town, Bhiwadi : Comfort Homes (2/3/4 Bedroom Apartments) : 3,900,000 sq. ft. : July 03, 2013 : Ph I - ` 2500 (Basic) Ph II - ` 2580 (Basic) : 7 Years : 7-8 : Phase I launched for bookings on 24th June with 448 homes. Phase II launched for bookings

Booked as on 8 July'13 : 405 homes

View of Ashiana Aangan, Bhiwadi

Investor Presentation July 13

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Financial Review at Glance

Particulars (in Lakhs Rs) Sales and Other Income Operating Expenditure EBITDA Profit After Tax (PAT) *Pretax operating cash flow generated from ongoing projects EBITDA Margin Net Profit Margin Return on average Net Worth Debt to Equity Ratio 32.44% 27.30% 35% 0.01 38.77% 30.38% 33% 0.06 2008-09 10,401 7,027 3,374 2,840 2009-10 12,103 7,411 4,692 3,677 2010-11 15,428 9,578 5,850 4,386 5,345 2011-12 24,898 15,930 8,967 6,955 10,967 2012-13 16,142 11,375 4,767 3,315 8,381

37.92% 28.43% 29% 0.002

36.02% 27.94% 34% 0.04

29.53% 20.53% 13% 0.04

Investor Presentation July 13

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Financial Review

Pretax operating cash flow generated from ongoing projects

12000 10500 9000 7500 6000 4500 3000 1500 0 5,345 8,381 10,967

Return on avg. net worth %

40% 35% 30% 25% 20% 15% 10% 5% 0% 13% 35% 33% 29% 34%

0 01

-11 2

1 01

-12 2

2 01

-13

8 00

-09 2

9 00

-10 2

0 01

-11 2

1 01

-12 2

2 01

-13

Investor Presentation July 13

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Challenges

n Regulatory

n Manpower Crunch

n Geographical Expansion

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Regulatory
CHALLENGES Lack of coordination between authorities n responsible for enforcing different laws has increased red tape and time taken to launch a project
n Withholding of the conversion process in

STRATEGY
n Sufficient cash cushion to factor in delay of

approvals Expansion in multiple locations to diversify local n regulatory risks

states and delayed procedures for approvals in other locations leading to inventory pipeline blockages
n Bundles of approvals and multiple tax layers

Formulation of land acquisition teams n dedicated to specific cities

increase pre-launching time and prices of homes affecting affordability

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Manpower Crunch
CHALLENGES
n Limited availability of trained manpower

STRATEGY Established skill development modules for n masons

Labour crunch due to decrease in transitory n migration from states like Bihar, West Bengal & Odhisa Management bandwidth to accomodate the n growth Started skill & technical enhancement n programs for supervisors (STEPS) Formulation of Leadership Development n Program Focus on improving labour productivity n (Increased by over 34% in the last 2 years)

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Geographical Expansion
CHALLENGES
n Large increases in the FSI costs even in city

STRATEGY
n Maintain 5-7 years land inventory

peripheries Operate in areas where cost of land as a n Regulatory environment is different for n different states Get into Joint Venture models, with regulatory n High transaction costs n Brand building in newer geographies n Delegation of site level responsibilities to onsite n Building city specific project management n teams Increase presence in 1 new city/town per year n managers approvals being the responsibility of the partner percentage of total project cost is low

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Opportunities

n Timely Deliveries

n Financial Liquidity

n Customer Experience

Challenges for others opportunities for us!

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Thankyou

Investor Presentation July 13

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Annexure

n Geographical Presence

n Management Team

n History & Milestone

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Geographical Presence
Our Projects
ASHIANA AT BHIWADI Greens Bageecha Gulmohar Park Gardens Villas Rangoli Aangan Treehouse Residences Town Ashiana Utsav - Active Senior Living Ashiana Utsav - Care Homes The Treehouse - Hotel & Club Arcade Village Centre Aangan Plaza ASHIANA AT NEEMRANA Greenhill Aangan ASHIANA AT PATNA Adharshila Apartment Ashiana Nagar Ashiana Plaza GKP College Harniwas Kaveri Apartment Rajsheela Apartment Regency Garden Shantiniketan Sangam Vihar Tata Ward ASHIANA AT JAMSHEDPUR Trade Centre Gardens Enclave Suncity Residency Greens Woodlands Brahmananda Anantara Marine Plaza ASHIANA AT JAIPUR Ashiana Manglam Greenwood Ashiana Utsav - Active Senior Living Rangoli Gardens Gulmohar Gardens ASHIANA AT JODHPUR Amarbagh Dwarka ASHIANA AT LAVASA, PUNE Ashiana Utsav - Active Senior Living ASHIANA AT GREATER NOIDA Black Gold Apartment for Oil India Orchids

Bhiwadi Neemrana Jaipur Jodhpur Patna Jamshedpur Halol Kolkata

Lavasa

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Management Team
Board of Directors

Ankur Gupta
Jt. Managing Director

Vishal Gupta
Managing Director

Varun Gupta
Whole Time Director

T K Shaju
Information Technology

Atul Kumar
Architecture & Design

P K Jaiswal
Bhiwadi & Neemrana

Kuldeep Gahlaut
Human Resources

Manoj Tyagi
Pune

Bhagwan Kumar
Land, Legal & Secretarial

Sunit Gandhi
Halol

Anupama Gulati
Sales & Marketing

Sanjeev Rawat
Jaipur & Jodhpur

Shantanu Haldule
Jamshedpur & Kolkata

Atma Sharan
Facility Management

S K Palit
Operations

Manojit Sengupta
Accounts & Finance

Investor Presentation July 13

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History & Milestones

1979 1985 1986 1992 1996 1998 2006
Established in Patna First organized Developer in Patna
Started Jodhpur operations

2007 2008 2010 2011 2012 2013

Completed India's first Utsav in Bhiwadi

Treehouse - hotel & club started in Bhiwadi

Started Jamshedpur operations First organised Developer in Jamshedpur

Started Lavasa (Pune) operations as

Lavasa's second client Issued bonus shares in the ratio of 5:2

Launched Rangoli Gardens in Jaipur - the largest

Incorporation of Ashiana Housing

project of company till date Got listed under Forbes Asia's Best Under a Billion 200 list of companies.

& Finance (India) Ltd. Shifted head office in Delhi Started operations in Bhiwadi First organised Developer in Bhiwadi Went Public
Started facility management of

Launched Utsav Care Homes.

Awarted for Best affordable housing in India & NCR by

CNBC Awaaz Real Estate awards 2012 Utsav Bhiwadi awarded Best Theme Project non metro by CREDAI India Real Estate Awards 2012

Ashiana properties

First organised Developer in Neemrana

Univeiled new identity of Ashiana

Started Jaipur opperations

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