#1November 2022 NCC Limited Corporate Presentation NCC#2DISCLAIMER NCC No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of NCC, which are expressed in good faith and in their opinion reasonable, including those relating to NCC's general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment. 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This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner Copyright © 2017 NCC Limited 2#3Table of Contents 1 Company Overview NCC Page No. 4 2 Business Verticals 3 Key Investment Highlights 4 Company Strategy Copyright © 2017 NCC Limited 10 10 17 29 3#4COMPANY OVERVIEW#5Company Snapshot (1/5) Overview One of the largest Listed construction companies in terms of revenue in India Well diversified order book with presence across buildings & housing, roads, water & environment, irrigation, electrical, metals, mining and railways Pan India presence with offices across 13 cities in key states such as Maharashtra, Andhra Pradesh, Telangana, Karnataka, Gujarat, Uttar Pradesh, West Bengal, Tamil Nadu, etc. Experienced Management and skilled workforce which includes about 5443 employees (including 3604 Technical), currently executing around 139 active sites at various locations (As on September 30, 2022) Order Book of INR 40,020 Cr as on September 30, 2022. New orders of INR 7,117 Cr received during H1 FY 23 Key projects executed: ○ Agra Lucknow Expressways - Uttar Pradesh ○ ESI Hospital and Medical College, Gulbarga, Karnataka o Outer ring Road, Hyderabad Growth Corridor - Telangana o Infrastructure development, Ministry of Defence - Arunachal Pradesh 。 Water Supply Project, Rajkot - Gujarat - NCC Shareholding – As on September 30, 2022 Indian Public 43.97% Promoters 21.99% MFs/Dils 9.90% Promoters FIls, NRIs and OCBS Fils, NRIs and OCBS 14.31% MFs/Dils Bodies Corp Major investors having stake in the Company: O Rekha and Rakesh Jhunjhunwala O Nippon Life India Trustee Ltd O Aditya Birla Sun life IDFC Sterling Value Fund Copyright © 2017 NCC Limited Bodies Corp 9.83% Indian Public 5#6Company Snapshot (2/5) Key Milestones Group Business Structure 2019 Turnover Crosses INR 12,000 Cr. Order Book Crosses INR 41,000 Cr 2017 Secured 1st MDO Order 2012 Order Book crosses INR 20195 Cr 2005 Turnover crosses INR 1000 Cr 2002 ISO 9001:2000 certified 1995 Turnover crosses INR 100 Cr 1992 Initial Public Offering 1990 Converted into Public Limited Company 1978 NCC set up as partnership firm Copyright © 2017 NCC Limited NCCL Group Revenue As on 30.09.2022 NCC Ltd (Standalone) Revenue Contribution - 89% Revenue contribution from Construction business of NCC (on standalone basis) • NCC Subsidiary Companies Revenue Contribution - 11% NCC Urban -Real Estate, Mining, BOT, Construction & Others 6#7Company Snapshot (3/5) Pan India Presence Ahmadabad Bhopal Mumbai Bangalore Kochi Delhi Lucknow Ranchi NCC Kolkata Bhubaneswar Vijayawada Hyderabad Chennai Regional offices controlled by Directors and / or senior management facilitate efficient and timely decision making Copyright © 2017 NCC Limited 7#8Company Snapshot (4/5) Diversified Order Book (Consolidated) Total Order Book: Rs. 40,020 Cr (as on September 30, 2022) NCC Total Turnover: Rs. 6,695 Cr (As on September 30,2022) Mining, 9% Others, 1% Irrigation, 3% Electrical, 6% Water & Environment and Railways, 17% Roads, 2% Copyright © 2017 NCC Limited Buildings NCC Urban, 3% Mining, 10% Other, 1% ■Roads Irrigation, 3% Water & Environment and Railways Electrical Buildings, 63% ■Irrigation ■ Others ■Mining Electrical, 8% Water & Environment+Railways, 21% Roads, 6% Buildings Roads Water & Environment+Railways Electrical Buildings, 48% Irrigation ■Mining NCC Urban Other 8#9Company Snapshot (5/5) Segment-wise Order Book as on 30.09.2022 (Rs. Cr) NCC Particulars Buildings Roads W & E & Railways Electrical Irrigation Mining Internation al Others TOTAL Orders on 22542 1122 7192 2816 1205 4240 15 229 39361 Hand as on 01.04.2022 57% 3% 18% 7% 3% 11% 0% 1% 100% Add: New 5921 24 980 77 76 5 0 35 7117 Orders Received 83% 0% 14% 1% 1% 0% 0% 1% 100% Less: Value of 3195 432 1374 528 202 687 6 35 6458 Works Executed 49% 7% 21% 8% 3% 11% 0% 1% 100% 25269 714 6797 2365 1080 3557 Net Balance as on 30.09.2022 6 229 40020 63% 2% 17% 6% 3% 9% 0% 1% 100% Copyright © 2017 NCC Limited 9#10BUSINESS VERTICALS#11• • • . · . • • Operating Divisions NCC Building & Housing Industrial buildings Commercial buildings Housing projects IT Parks Shopping malls Sports complexes Hospitals &Medical colleges Bridges, flyovers and elevated corridors Metros Water & Environment Roads Electrical Irrigation • Highways • Water supply projects • Transmission and distribution lines • Dams & Reservoirs • Canals • Tunnels • Highway realignment and Bypass • Carriageway widening and strengthening • Water treatment plants • Distribution networks • Underground drainages • Lift irrigation schemes • • and sub-stations Project electrification System Improvement Projects . International • Roads • Buildings Barrages, Spillways and Aqueducts • Water pipelines Mining Overburden removal • Coal excavation • MDO • Railways Track Laying Signaling and Communication Railway Siding • . Others Power Oil & Gas • Metals Others Copyright © 2017 NCC Limited Diversified operations across various divisions help mitigate business risks 11#12Building & Housing Order Book (As on September 30, 2022) Key Clientele Building & Housing 63.00% Client Name Details of Major Projects Completed APTIDCO Project Name NCC Location Project Value (INR Cr) 2 Locations 1789 INR 25,269 Cr NBCC KIDWAI NAGAR New Delhi 698 NAGPUR METRO SAMAJWADI AWAS YOJANA Nagpur 562 Lucknow 377 Details of Major Projects Under Execution Project Name Location Project Value (INR Cr) 5 Locations 4719 Uttar Pradesh Housing & Development Board Airport Authority of India All India Institute of Medical Sciences (AIIMS) NBCC Limited Director General Project Seabird (AOD) AIIMS The Project Seabird, New Delhi (SEABIRD PHASE IIA,KARWAR) (2 Projects) Karnataka 2467 BMRCL Benguluru 2167 Airport Authority of India 2 Locations 1905 Bangalore Metro Rail Corporation Ltd (BMRCL) Mumbai Metropolitan Region Development Authority (MMRDA) MMRDA Mumbai Metro Mumbai 1131 Copyright © 2017 NCC Limited 12#13Water & Environment Order Book (As on September 30, 2022) Key Clientele Water & Environment 17.00% Client Name Gujarat Water Supply and Sewerage Board Government of Uttar Pradesh Government of Jharkhand INR 6,797 Cr Government of Telangana Public Health Engineering Department, Rajasthan Public Works Departments, Government of West Bengal Copyright © 2017 NCC Limited Details of Major Projects Completed Project Name NCC Location Project Value (INR Cr) SAUNIYOJANA L-3 P-1 & P-2 2 Locations 1247 TDWSP-RR Ranga Reddy 1517 District TDWSP-WARANGAL 721 Warangal Water Supply Projects - BILWARA - 1 & 2 Rajasthan 535 Details of Major Projects Under Execution Project Name Location Project Value (INR Cr) State water & Sanitation Mission, Govt of UP 7936 5 Districts Namami Gange & Rural Water Supply 1931 4 Districts Rural Water supply & Sanitation, 1343 2 Districts of Odisha 13#14Roads Order Book (As on September 30, 2022) Roads INR 714 Cr 2.00% Key Clientele NCC Details of Major Projects Completed Project Name Location Project Value (INR Cr) Agra Lucknow Expressways Uttar Pradesh 1560 Hyderabad Growth Corridor Limited Nagpur Mumbai express way Hyderabad 761 Maharashtra 2850 Details of Major Projects Under Execution Client Name National Highways Authority of India UP Expressways Industrial Development Authority Capital City Development and Management Corporation, Vijayawada MSRDC Limited Project Name Jabalpur Flyover Madurai Ring Road Double Deck Flyover - Chandini Chowk Chhapra Town White topping of Roads - Bengaluru Copyright © 2017 NCC Limited Location Project Value (INR Cr) Jabalpur City 629 Tamil Nādu 440 Maharashtra 427 Karnataka 354 14#15Irrigation Order Book (As on September 30, 2022) Irrigation 3.00% Key Clientele Details of Major Projects Completed NCC INR 1,080 Cr Project Name Gandak Canal Project Location Project Value (INR Cr) Bihar 543 Sardar Sarovar Narmada Nigam Ltd. Gujarat 454 Water Resources Dept. Birpur Bihar 153 Client Name Sardar Sarovar Narmada Nigam Limited Water Resources Department, Govt. of Bihar Water Resources Department, Govt. of Chattisgarh Govt. of Andhra Pradesh, Water resources department Copyright © 2017 NCC Limited Details of Major Projects Under Execution Project Name Location Project Value (INR Cr) Lift Irrigation Project (PRLIS) Telangana 1008 Formation of Reservoir project - Baswapur Telangana 592 Modernization of Midpennar South Canal_ Andhra 442 Package 43 & Package 44 Pradesh 15#16Electrical Order Book (As on September 30, 2022) Electrical6 6.00% Key Clientele Client Name Purvanchal vidyut Vitran Nigam Limited Dakshinanchal Vidyut Vitran Nigam Limited Madhyanchal Vidyut Vitran Nigam Limited West Bengal State Electricity Distribution Co Ltd Jharkhand Bijili Vitran Nigam Limited Power Grid Corpn. of India Ltd Copyright © 2017 NCC Limited Details of Major Projects Completed NCC Project Name Location Project Value (INR Cr) INR 2,365 Cr Jharkhand Bijili Vitran Nigam Limited, Ranchi (8 Projects) TG&D Corpn Ltd, Chennai-Erode Jharkhand 1525 Tamil Nādu 254 PVNL-RGGY - Phase II Allahabad Uttar Pradesh 165 Power Grid Corpn. of India Ltd. TW-01 & TW-02 Andhra Pradesh 131 Details of Major Projects Under Execution Project Name PVVNL-Saubhagya-Meerut Location Project Value (INR Cr) Uttar Pradesh 475 Tamil Nadu Generation & Distribution Corporation Ltd 4 Locations 789 BESCOM, KENGERI, Indiranagar, Jayanagar Bangalore 587 16#17KEY INVESTMENT HIGHLIGHTS#18Key Investment Highlights 1 Strong Execution Track Record . NCC More than Four decades of experience in completing numerous construction projects across roads, buildings, bridges, irrigation & mining etc. with timely execution 2 Diversified Order Book across Industry Segments and Geography . • Robust and regionally diversified order book diversified across 27 states in India with strong counterparties Order book of INR 40020 Cr (as on September 30, 2022) and order book to sales ratio of about 4x provides strong cash flow visibility for next 4 years 3 Robust Financials with Strong Credit Rating . Company has stable financial performance in terms of margins and return metrics along with low leverage India Ratings - "A" with positive outlook Professional Board with Strong Corporate Governance • Board comprising of 5 Executive, 1 Non-executive non-independent and 4 Independent directors Strong Corporate Governance due to institutional ownership and presence of independent directors in board & various committees 5 Favorable Industry Dynamics Various initiatives such as Bharat Mala, Sagar Mala, Pradhan Mantri Awas Yojna, Namami Gange Programme, Freight Corridors, Industrial Corridors, Smart Cities, etc. to provide additional impetus to Construction industry Copyright © 2017 NCC Limited 18#19Strong Track Record Details of Major Projects Completed NCC Year of completion Ability to Win Large Projects Demonstrated ability to bid for and win large projects State water & Sanitation Mission, Govt of UP, Lucknow (2 Projects) : INR 7936 Cr Nagpur Mumbai express way, Maharashtra : INR 2850 Cr The Project Seabird, New Delhi (SEABIRD PHASE IIA, KARWAR) (2 Projects) INR 2467 Cr Building Project by NBCC, Nauroji Nagar, New Delhi: INR 1652 Cr Bangalore Metro Rail Corporation Ltd (BMRCL) - Rs. 2167 Cr Project Name Location Project Cost (INR Cr) ESIC Hospital & Medical College Karnataka 1073 2014-15 • TDWSP - Ranga Reddy Telangana 1516 2019-20 Jharkhand Bijili Vitran Nigam • Jharkhand 1525 2021-22 Limited, Ranchi (8 Projects) Nagpur Mumbai express way Maharashtra 2850 2022-23 Details of Major Projects Under Execution Key Clientele Project Name Location Project Cost (INR Cr) Client Name The Project Seabird, New Delhi (SEABIRD Indian Railway Power Grid Indian Oil Karnataka 1127 PHASE IIA,KARWAR) Coal India CIDCO NBCC India Limited, New Delhi ( ITC- NAUROJI NAGAR) New Delhi 1560 Pune Metro Package-1 & 2 Maharashtra 1096 BMRCL Steel Authority of India 7936 State water & Sanitation Mission, Govt of UP UP Bangalore Metro Rail Corporation Ltd (BMRCL) Benguluru 2167 National Highways Authority of India NTPC NBCC Bharat Heavy Electricals Airport Authority of India Hyderabad Growth Corridor Maharashtra Airport Development Indian Army Copyright © 2017 NCC Limited 19#20Divisional Performance as on September 30, 2022 Buildings & Housing (Rs. Cr) Revenues NCC Water & Environment + Railways (Rs. Cr) Revenues 5,419 3,543 2,776 4,233 3,227 25,269 2,691 1,866 2,417 1,681 1,386 6,797 FY 19 FY 20 FY 21 FY 22 H1 FY 23 Order FY 19 FY 20 FY 21 FY 22 H1 FY 23 Order book book Electrical (Rs. Cr) Irrigation (Rs. Cr) Revenues Revenues 1,080 367 307 1,041 992 751 528 2,365 431 387 362 298 202 FY 19 FY 20 FY 21 FY 22 H1 FY 23 Order book FY 19 FY 20 FY 21 FY 22 H1 FY 23 Order book (1) Order book as on September 30, 2022 Copyright © 2017 NCC Limited 20#21229 Divisional Performance as on September 30, 2022 Mining (Rs. Cr) Revenues Others (Rs. Cr) Revenues NCC 1,260 654 20 351 67 153 3.557 266 49 49 11 62 62 T FY 19 FY 20 FY 21 FY 22 H1 FY 23 Order book FY 19 FY 20 FY 21 FY 22 Roads (Rs. Cr) Revenues 1,347 1,185 1,213 672 714 432 FY 19 FY 20 FY 21 FY 22 H1 FY 23 Order book (1) Order book as on September 30, 2022 Copyright © 2017 NCC Limited 36 T H1 FY 23 Order book 21 221#221 Robust Financials with Strong Credit Rating (1/3)- Standalone Financials NCC Revenue (INR Cr) 9,930 8,370 7,371 5962 Margins 12.5% 11.8% 10.0% 4.6% 4.9% 3.5% FY 20 FY 21 FY 22 H1 FY 23 FY 20 FY 22 FY 21 ■EBITDA Margin PAT Margin 9.6% 4.0% H1 FY 23 Return on Equity Networth (INR crs) 8.5% -ROE (%) 5.0% 7.5% Leverage Total Debt (INR crs) -D/E (x) 5,996 1910 1,985 1,789 1,184 4.03 0.3x 5369 5,803 0.3x 0.4x 5106 0.2x FY22 H1 FY23 22 FY20 FY21 FY21 FY22 H1 FY23 Note: 1. 2. All figures are derived from standalone financials EBITDA Margin: EBITDA / Operating Revenue; PAT Margin = PAT / Total Revenue; 3. ROE PAT/Net Worth FY20 Copyright © 2017 NCC Limited#232 Robust Financials with Strong Credit Rating (2/3)- Consolidated Financials Consolidated Revenues (Rs. Cr) Margins 12.2% 11.6% 11,138 9,014 8,065 6,695 NCC 9.2% 9.2% 4.4% 3.5% 3.5% 3.9% FY 20 FY 21 FY 22 H1 FY 23 FY 20 FY 21 FY 22 H1 FY 23 ■EBITDA Margin PAT Margin Leverage Position 0.4x 0.4x 0.2x 0.3x 2,062 2,181 2,002 1,302 FY 20 FY 21 FY 22 H1 FY 23 1. Total Debt (Rs.Mn) -D/E (x) 2. 3. Copyright © 2017 NCC Limited Note: All figures are derived from consolidated financials EBITDA Margin: EBITDA / Operating Revenue; PAT Margin PAT / Total Revenue; 23#243 Robust Financials with Strong Credit Rating (3/3) Finance Cost Comprises of: • Interest on Working Capital Loans & Cash Credit • Interest on Term Loans • Interest on Mobilization Advances 517 NCC Finance Cost (INR Cr) (Actual / % of Turnover) 458 460 231 6.2 6.21 . • Commission on Bank Guarantees and Letter of Credits 4.58 3.83 • · Other Financial Charges Working Capital Assistance from Banks FY 20 FY 21 FY 22 H1 FY 23 Finance cost % Turnover (As on September 30, 2022) Sl. No. Particulars Limit (INR Cr) Rating of the Company: 1. Cash Credit & WCDL 2,200 2. Bank Guarantees 10,000 External rating of the company is "A" with positive outlook 3. Letter of Credit 1,000 by India Ratings TOTAL 13,200 Copyright © 2017 NCC Limited 24#25Favorable Industry Dynamics (1/3) Investment Planned Under NIP Roads 3,83,283 3,32,559 3,56,966 3,32,659 2,52,780 2,40,761 (Rs. Cr) NCC FY20 FY 21 FY 22 FY 23 FY 24 FY 25 Urban Infrastructure 4,62,208 4,04,134 2,98,174 2,34,858 2,17,164 1,59,872 FY20 FY 21 FY 22 FY 23 FY 24 Copyright © 2017 NCC Limited FY 25 25 Source: Crisil#26Favorable Industry Dynamics (2/3) Investment Planned Under NIP Railways Airports (Rs. Cr) NCC 3,08,800 2,62,465 2,73,831 24,820 1,33,387 2,21,209 3,32,659 18,667 21,655 25,386 21,334 5,141 FY20 FY 21 FY 22 FY 23 FY 24 FY 25 FY20 FY 21 FY 22 FY 23 FY 24 FY 25 Irrigation 2,00,615 1,75,669 1,14,463 1,37,358 1,15,281 70,474 Copyright © 2017 NCC Limited FY20 FY 21 FY 22 FY 23 FY 24 FY 25 26 Source: Crisil#27Favorable Industry Dynamics (3/3) Sector-Wise Capital Expenditure in Infrastructure Industrial Infrastructure, Social Infrastructure, 1,68,727. Agri & Food Processsing Infrastructure, 7,73,915 3,93,386 Energy, 26,90,003 Rural Infrastructure, 8,94,473. Irrigation, 3,09,672 Urban Infratructure, 19,19,267 Airports, 1,43,448 Copyright © 2017 NCC Limited Ports, 1,21,194 Railways, 13,67,563 Energy ■Roads Railways Ports Airports (Rs. Cr) NCC Urban Infratructure Irrigation Rural Infrastructure Agri & Food Processsing Infrastructure Roads, 20,33,823 Social Infrastructure Industrial Infrastructure 27#28COMPANY STRATEGY#29Company Strategy Asset Light Business Model NCC Focus on core competency of the Company i.e. Construction Business (EPC and Item rate contracts) with asset light strategy Monetize BOT and Real Estate Assets exposure on a case to case basis . Limited exposure to select HAM projects in Roads Focus on India With impetus of Government on development of Infrastructure and housing for all in India, focus on bidding for construction projects in India Focus on National Infrastructure Pipeline and Jal Jeevan Mission projects. Exit from middle east construction business Improving Operational Efficiency and Return Metrics Copyright © 2017 NCC Limited • Continuing efforts in improving operational efficiency and reduction of costs Focus on superior management and better control of projects by strengthening MIS and Review System Sustained efforts on improving EBITDA and Net Profit Margins Reduction of Debt and Interest Costs 29 20#30Thank you