#1DLF Limited: Q1FY24 RESULTS PRESENTATION DLF DLF Downtown, Gurugram DLFA DLFA#2Horizon Center, DLF 5, Gurugram AMERICKR EXPRESS <<<< AGENDA >>>>> 01 Overview DLFA 02 DLF Limited: Business Update 03 DCCDL: Business Update#3DLF Group - Business Overview Business Residential Apartments/Plotted/ BB Townships/Low-rise 76 Track record Years of experience in real estate development Scale 215 msf+ Development potential (Devco & Rentco) Organization Offices Retail Cyber Cities/Cyber Parks/ IT SEZs/ Commercial Parks 158+ Real estate projects developed DLF Other Business Service & Facility Management/Hospitality 340 msf+ Area developed 118 msf+ Deliveries since IPO ~42 msf Operational Rental portfolio ~46 msf Product Pipeline (Devco & Rentco) ~INR 56 bn Available Inventory Strong brand DLF⭑ Focused on Safety, Sustainability & Governance Strong Leadership with experienced teams Strong Promoter commitment 3#4Outlook ○ Industry Strong macro tailwinds to support industry growth Housing demand expected to exhibit sustained momentum Company DLF Continue to implement our strategy of bringing calibrated supply in select markets Remain focused on timely execution of launched products О Industry consolidation and growing demand for premium and luxury housing augurs well for larger & credible players О Planned launches for current fiscal progressing as per plan ○ Indian office ecosystem continues to be preferred by large occupiers; Increasing demand from GCCs should support steady growth in the segment, however global uncertainties deferring decision-making О New office developments expected to continue to witness healthy demand; Significant pre-leasing in new office products О Retail segment comfortably poised for growth; Organized retail expected to perform better ○ Remain enthused on growth prospects in the retail business; progress on new retail destinations remains on track 4#5DLF Group- Key Business Priorities GOAL Value Creation Levers 1 Development Business 2 Rental Business 3 Cash Management 4 LO 5 Profitability/ Shareholder returns Organization ☐ Maintaining Leadership position by delivering Consistent, Competitive & Profitable Growth DLF⭑ Identified Plan/Actions Continue to scaling-up our product offerings; developing margin accretive products Tapping multiple geographies; Core: Gurugram / Delhi NCR; Other Key Markets: Chennai/Chandigarh Tri-city/Goa Continue to work on developing profitable opportunities Double digit rental growth through organic growth and New developments Significant increase in retail presence; Portfolio to grow to 2x in next 4-5 years Unlocking the development potential; Modernization / Upgradation of existing assets Consistent free cash flow generation in the business; Targeting steady growth in FCF generation I ☐ To achieve our goal of being Net Debt Zero (Development business) in FY24 ☐ Improving profitability; Targeting steady double digit PAT growth annually; Improving Shareholder returns by enhancing Dividend Payout over time Building Organizational capabilities; strengthening project management/ sales organization & enhancing digital capabilities to improve efficiency and controls Optimizing organizational overheads; to be competitive & commensurate with our growth plans 5 I#6Path to Scaling-up All levers are well placed to drive growth Strong Demand Momentum Low-cost land bank at established locations Enhanced Organizational capabilities DLF Diversified Launch pipeline targeting different segments & geographies Strong Balance sheet Healthy Cash flows Calibrated approach towards strong business growth 6#7DLFA DLF Limited :Business Update The Camellias, DLF 5, Gurugram#8New Sales Bookings (Q1FY24) Steady & sustained sales momentum from launched inventory Steady Sales Momentum Well diversified Sales mix 2,040 cr Q1FY23 2,040 cr ◉ The Camellias, DLF 5, Gurugram: Rs 564 crore ✓ Sold 13 units One Midtown, New Delhi: ✓ Rs 659 crore ✓ Steady sales momentum New Products, Gurugram: ✓ Independent Floors/Commercial SCOS Rs 486 crore Sustained demand for new products Q1FY24 The Valley Garden, Panchkula: Independent Floors ✓ ✓ Rs 127 crore DLF 8#9104 Development Potential Strategically located land bank at low carrying cost; will enable steady & sustainable growth Location DLF Development Potential¹ (in msf) Gurgaon Delhi Metropolitan Region Chennai Hyderabad Chandigarh Tri-City Region Kolkata Maharashtra (Mumbai/Pune/Nagpur) Bhuvaneshwar Gandhi Nagar Other Cities TOTAL Identified Pipeline of New Product Launches Balance potential DLF 5/DLF City New Gurgaon 32 13 12 3 16 2662 16 11 187 41 146 24 81 2 22% (41 msf) Land Bank monetization through scaling up launches over the medium term 9 1The potential is based on best estimates as per the current zoning regulations; excludes TOD/TDR potential#10Project Launch Calendar (New Products) Continue to focus on value enhancement Initial Guidance Sales Launched till FY 22-23 Planned FY 23-24 Total Till FY23-24 Size (~ in msf) Size Potential (~ in Rs crore) (~ in msf) Sales Potential (~ in Rs crore) Sales Sales Size Size Size Potential Potential (~ in msf) (~ in msf) (~ in msf) (~in Rs crore) (~ in Rs crore) DLF Beyond FY 24 Sales Potential ( ~ in Rs crore) Luxury Segment 10 12,500 10 15,240 5 12,400 15 27,640 Midtown, DLF- GIC Residential 8 17,500 2 4,405 2 4,405 6 13,100 JV Premium Value 9 5,000 LO 5 3,050 LO 6,000 10 9,050 2 2,500 1 1,339 0.7 660 1.7 2,000 0.9 1,975 Commercial Atrium Place 2.9 7,000 (Commercial JV) NOIDA IT Park 3.5 2,500 2.9 7,000 0.8 650 0.8 650 2.7 1,850 Grand Total 35 47,000 18 24,035 11.2 19,710 29 43,745 12 23,900 Cumulative 41 67,645 FY24 Planned launches: 11.2 msf/ Rs 19.7k cr sales potential 10#11Product Available for Sales Bookings: - Rs 25k crore DLF Available Inventory Rs 5,625 crore Planned products (FY24 onwards) Rs 19,700 crore Completed Inventory (Till 30th June-23) Launched Products (Till 30th June-23) ~ Rs 2,623 crore ~ Rs 3,002 crore Planned residential developments across Gurugram/Chennai/Chandigarh Tri-city; to be launched subject to requisite approvals 11#12Residual Gross Margin as on 30.06.2023 Well poised for healthy margin recognition across next few years Project Gross Margin to be recognized from sales done till 30th June-2023 Gross Margin to be recognized from Inventory as on 30th June-2023 DLF Gross Margin Movement Completed Inventory Camellias DLF 5 966 1,060 37 2 New Gurgaon 70 48 National Devco 250 447 Sub-Total 1,322 1,557 New Products (launched 6,150 593 from Q3FY21 Onwards) One Midtown (DLF Share) 505 Grand Total 7,978 272 2,422 Gross margin to be recognized in next few Rs. 10,400 crore years 10,753 cr 10,400 cr Q4FY23 Q1FY24 12#13Project Status - as on 30.06.2023 Healthy mix of completed & launched inventory; healthy receivables of 15k crore Project Sales Booking (in Rs crore) Total Inventory Value (in Rs crore) Revenue recognized (in Rs crore) Balance Revenue to be recognized (in Rs crore) The Camellias 10,201 1,413 8,908 2,706 DLF Balance Receivable (in Rs crore) 449 Others 30,388 1,210 29,399 2,198 343 Sub-Total 40,589 2,623 38,308 4,904 792 * New Products* 20,812 3,002 460 23,353 14,263 G.TOTAL *includes One Midtown (JV project) 61,400 5,625 38,768 28,257 15,055 13#14Project Execution Status: Area Under Development (34 msf by FY24 end) Calibrated scale-up; enhanced focus on timely execution DLF Segment Under Construction 1st Apr'23 New Addition FY 23-24 Expected Completions FY 23-24 Closing Execution 1st Apr'24 DevCo Luxury* Premium 13 55 2.8 15 5 Value 4 1.7 2.3 Commercial 2 0.7 2.8 Atrium Place (JV project) 2.9 I 2.9 Sub Total - DevCo ( A ) 22 10.7 4.5 28.2 DCCDL Rentco Projects DT-Gurgaon 2.0 2.0 Mall of India, Gurugram 2.6 2.6 DT-Chennai 3.4 2.2 1.2 Sub Total - DCCDL Rentco Projects ( B ) 5.4 2.6 2.2 5.8 Total (A+B) *includes One Midtown (JV project) 27 13.4 6.7 34 14#15Project Execution Status DLF City Floors, Gurugram Garden city Floors, New Gurgaon The Arbour, Sector-63, Gurugram One Midtown, New Delhi DLF#16Project Execution Status The Grove, DLF 5, Gurugram The Valley Gardens, Panchkula DLF Summit Plaza, DLF 5, Gurrugram Garden City Enclave, Sector-93, New Gurgaon 135#17Results highlights - Q1FY24 Sustained performance across all KPIs New Sales Booking DLF Collections Surplus Cashflow Rs 2,040 crore Rs 1,575 crore Rs 665 crore ESG/Credit Rating DJSI Emerging Markets Index Constituent For 3rd consecutive year Only RE company from India ICRA AA/Stable CRISIL AA/Stable PAT Rs 528 crore 12% y-o-y growth ¡ 'The Crest' - a luxury development in DLF 5, Gurugram, has been voted as the 'Project of the year' by U.S. Green Building Council (USGBC). Net Debt Rs 57 crore Lowest debt levels 17#18Consolidated Results - Q1FY24 Revenue at Rs 1,522 crore; PAT at Rs 528 crore Y-o-Y growth of 12% ☐ Revenue stood at Rs 1,522 crore Gross margins at 52% □ EBITDA at Rs 495 crore; a Y-o-Y growth of 1% PAT at Rs 528 crore, Y-o-Y growth of 12%; ☐ Surplus cash generation of Rs 665 crore Revenue (in Rs crore) 1,517 cr DLF⭑ EBITDA (in Rs crore) PAT (in Rs crore) 1% 12% 528 cr 488 cr 495 cr 470 cr 1,522 cr Q1FY23 Q1FY24 18 Q1FY23 Q1FY24 Q1FY23 Q1FY24#19Consolidated Profit & Loss Q1FY24 Revenue at Rs 1,522 crore; PAT at Rs 528 crore Y-o-Y growth of 12% Particular Q1FY24 Q4FY23 % Change Q1FY24 - Vs Q4FY23 Q1FY23 Revenue from operations Cost of Sales 1,423 1,456 (2%) 1,442 DLF % Change Q1FY24 - Vs Q1FY23 (1%) 688 622 11% 672 2% Gross Margin Gross Margin% 735 834 (12%) 769 (4%) 52% 57% 53% Other income 98 120 (18%) 75 31% Staff Cost 173 155 12% 123 40% Other Expenses 166 282 (41%) 233 (29%) EBITDA 495 518 (4%) 488 1% EBITDA% 33% 33% 32% Finance costs 85 85 105 (19%) Depreciation 36 36 37 (2%) PBT before exceptional items 373 397 (6%) 346 8% Tax (Deferred Tax) 101 113 (10%) 88 15% PAT 272 285 (5%) 258 6% Profit/loss from Cyber/Other JVS/OCI 256 296 (15%) 212 21% PAT 528 581 (9%) 470 12% 19#20Consolidated Cash Flow Consistent surplus cash generation from Operations Particulars Inflow •Collection from Sales • Rental Inflow Sub-Total Inflow DLF FY23 Q1FY24 Q1 Q2 Q3 Q4 991 1,152 1,307 1,842 1,472 81 100 91 86 104 1,072 1,252 1,398 1,929 1,575 Outflow •Construction 197 298 298 390 315 •Govt. Approval fee/ Land acquisition/disposal 98 173 54 128 150 •Overheads 232 175 174 194 201 •Marketing / Brokerage 62 77 109 98 113 Sub-Total Outflow 588 723 635 811 780 Operating Cash Flow before interest & tax 483 529 763 1,118 795 •Finance Cost (net) 53 66 68 81 60 •Tax (net) (60) 6 (5) (2) 2 Operating Cash Flow after interest & tax 490 457 701 1,039 733 •Capex outflow / others 67 46 68 77 67 Net surplus/ (shortfall) 423 411 633 962 665 Dividend (Inflow from DCCDL) 451 408 Dividend (Outflow from DLF) (742) Net surplus/ (shortfall) 423 119 633 1,369 665 Repayment of capex advance (Hyd Sez)1 (582) 0 20 Net surplus/ (shortfall) 423 119 51 1,369 665#21Debt Update - Q1FY24 Lowest levels; reduction of Rs 665 crore Particulars Q1FY23 Q4FY23 Q1FY24 Gross opening debt. 3,900 3,840 3,068 Less Debt repaid during quarter (172) (774) (121) Add New Borrowing during Qtr. 65 Less Cash in Hand (1,469) (2,345) (2,956) Net Debt Position 2,259 721 57 Interest Rate Movement 8.40% 7.03% 8.18% 8.19% FY21 Exit FY22 Exit FY23 Exit Q1FY24 Sources DLF Banks, 3,012 cr, 100% < 1 Yr, Repayment Schedule 0 109 cr, 4% < 3 Yr > 1 Yr, 198 cr, 6% > 3 Yr, 2,705 cr, 90% 21#22Debt Management Leading towards Surplus cash position Particulars¹ Net Debt as on 30.06.2023 Receivables (including New Products) Construction Payables (including New Products) Capex (Rental assets ~ 2.5 msf) Surplus Cash position Completed Inventory / New Products Inventory DLF Amount (in Rs crore) (57) 13,106 (6,685) (876) 5,488 4,333 ☐ Project receivables significantly higher than all current liabilities leading to Surplus cash position New Products / Completed inventory to further improve cash flow generation 1One Midtown & Atrium Place (JV projects) not included 22 22#23Consolidated Balance Sheet Abstract Particulars Non-Current Assets Current Assets Total Assets DLF As on 30.06.2023 As on 31.03.2023 28,464 26,633 28,157 25,771 55,097 53,928 Equity 38,219 37,692 Non-current Liabilities 5,034 5,051 Current Liabilities 11,844 11,185 Total Liabilities 55,097 53,928 23#24Rental Portfolio Snapshot (DLF Limited) - Q1FY24 DLFA Leasable Leased Vacant Area Area Area Building Weighted Average rate WALE GAV¹ % Leased Area (in msf) (in msf) (in msf) (in Rs psf) (months) (in Rs crore) DLF Center, Delhi 0.17 0.15 0.01 92% 375 58 1,029 DLF5 0.58 0.58 0.0 100% 46 8 915 IT Sez, Kolkata 1.05 0.96 0.09 91% 34 85 820 Gateway Tower, Gurugram 0.11 0.11 0.0 100% 124 CO 6 219 Sub-Total: Offices 1.9 1.8 0.10 95% 2,982 Chanakya, Delhi 0.19 0.17 0.02 92% 283 72 398 Capitol Point, Delhi 0.09 0.06 0.03 69% 417 54 303 South Square, Delhi 0.06 0.06 0.0 97% 95 47 84 Sub-Total: Retail 0.34 0.30 0.05 87% 785 Total: Operational Portfolio 2.2 2.1 0.15 93% GAV: As per C&W valuation Report basis data as on March 31,2023 3,767 24 24#25DLF Cybercity, Chennai DCCDL Business Update DLF#26Maintaining Leadership position in Safety/Sustainability & Wellness Leadership in Energy and Environmental Design (“LEED”) Journey DLF LEED Zero Fresh Air Intake Enhancement LEED Zero WASTE 2023: U.S. Green Building Council confers DLF's Rental Business as the World leader in LEED Zero Water. Holds 45 LEED Zero water certifications, highest in the world. We have doubled the fresh air intake per hour in all our Offices' buildings. We are the first real estate developer to achieve this unique engineered job, which has been thoroughly inspected, measured and certified by a leading Swiss company (M/s SGS). Towards our persistent journey in sustainability, we have been awarded LEED Zero Waste by USGBC for our DLF Cybercity, Hyderabad. We are working to achieve this for our Projects at other locations. Le salo COUNCIL LEED Colantz BEVELOPER OWNED COMMUNITY Other milestones: • Achieved first LEED Platinum Certification for 9 blocks of DLF Cybercity, Chennai ~40.4 msf portfolio is LEED* ® Platinum certified by US Green Building Council DLF Cybercity, Gurugram - The world's 1st developer owned community certified with LEED Platinum under LEED v4.1 Cities and Communities. LEED Zero 18 Swords of Honour Awards, the highest in the world. 26#27Portfolio Snapshot - Q1FY24 Healthy demand for new assets; Marginal occupancy drop in SEZs; Retail continues with sustained momentum LF Weighted Average Leasable Area Leased Area Vacant Area % Leased WALE Building Cyber City Cyber Park rate Area (in msf) (in msf) (in msf) (in Rs psf) (months) GAV¹ (in Rs crore) 11.6 10.7 0.9 92% 107 73 18,780 2.9 2.9 0.0 99% 114 84 5,357 One Horizon Centre Downtown, Gurugram² 0.8 0.8 0.0 99% 161 50 2,135 1.7 1.6 0.1 93% 119 128 2,891 Kolkata IT Park 1.5 1.5 0 98% 32 78 733 Chandigarh IT Park 0.7 0.6 0.1 85% 51 77 520 Sub-Total; Office (Non-SEZ) 19.2 18.1 1.1 94% 30,416 Cyber Sez 3.3 2.7 0.6 82% 77 47 4,562 Silokhera Sez 2.2 1.5 0.7 67% 66 86 1,933 Chennai Sez 7.8 6.6 1.2 84% 73 69 8,519 Hyderabad Sez 3.1 2.6 0.5 84% 58 66 2,457 Sub-Total: Office (SEZ) 16.5 13.4 3.1 82% 17,471 Sub-Total: Office 35.7 31.5 4.2 88% 47,887 Mall of India, NOIDA 1.97 1.96 0.0 100% 123 69 3,607 Emporio 0.3 0.28 0.03 90% 453 33 1,639 Promenade 0.48 0.48 0.0 100% 211 76 1,572 Cyber Hub 0.46 0.45 0.01 99% 150 66 1,088 DLF Avenue 0.52 0.52 0.0 99% 156 72 1,463 City Centre 0.2 0.15 0.04 80% 23 78 116 Sub-Total: Retail 3.9 3.8 0.1 98% 9,485 Total: Operational Portfolio 39.6 35.3 4.3 89% 57,372 Under Construction² Downtown Gurugram 2.0 1.5 0.5 74% 131 1,455 Downtown Chennai 3.3 2.9 0.4 87% 81 2,380 Total -Under Construction 5.3 4.4 0.9 82% 3,835 Development Potential 25 10.394 Grand Total 70 39 6 71,600 27 1 GAV: As per C&W valuation Report basis data as on March 31,2023; 2Downtown Gurugram & Chennai include hard option of 0.56 msf & 0.73 msf respectively#28Portfolio - Tenant Mix Well diversified & balanced portfolio with lower concentration risk Offices: Tenant Mix Retail Tenant Mix DLF Q1FY24 (based on revenue) Q1FY24 (based on leased area) Top 10 Tenants % Top 10 Tenants % 4% 2% 6% Cognizant 4% Cognizant 5% 9% American Express 3% IBM 4% IBM 3% Concentrix 3% EY 2% American Express 3% Concentrix 2% TCS 2% 13% KPMG 2% BT 2% BA Continuum 2% EY 2% BT 2% BA Continuum 2% 23% TCS 2% KPMG 2% Simpliworks 2% Simpliworks 2% ■Apparels/Accessories F&B Anchor Misc ■Sports ■ Entertainment Total 24% Total 26% ■Beauty & Cosmetics 43% 28#29Development Update New Product development remains on track Project Project Size (in msf) Current Status ✓ Phase I (Office): 1.7 msf ✓ Phase II (Office): 2 msf DLF Downtown, Gurugram ~12 ✓ Phase III Retail: 2.6 msf ☐ Offices: 5.5 msf DLF Downtown, Chennai ✓ Phase I (Office): 1 msf ~ 7 ✓ Phase II (Office): 2.3 msf Grand Total 19 5.3 msf under development Latest Updates DLF ✓ Phase I: Completed; rentals commenced ✓ Phase II: under development; pre-leasing/hard-option of 1.5 msf ✓ Phase III: planning at advanced stage ✓ Phase I: under development; 100% pre-leasing ✓ Phase II: under development; pre-leasing/hard- option 1.9 msf 29#30DLF Actual Status Block 2 & 3,DLF Downtown, Gurugram DLF Downtown, Chennai Artist's impression; Not an actual image Development Update LEVE Block 4,DLF Downtown, Gurugram Actual Status Actual Status DLF Downtown, Chennai 30#31Result Highlights - Q1FY24 Rental income grew by 13% Y-o-Y; driven by double digit growth across portfolio DLF Rental Revenue¹ Operational Portfolio Gross Leasing Rs 1.047 crore 39.6 msf 1.5 msf Net Debt Rs 18,328 crore 1excludes CAM/other income Net Debt = Gross Debt (IGAAP) less cash & cash equivalents Rating Sustainability ICRA AA/Positive CRISIL AA/ Positive [NCD] DLF Rental Business conferred as world leader for LEED Zero Water by USGBC 31#32DCCDL (Consolidated): Q1FY24 Results DLF Revenue increased by 12% Y-o-Y due to higher rental revenues; PAT at Rs 391 crore; 21% growth ☐ Revenue at Rs 1,412 crore, Y-o-Y increase of 12% ✓ Office rentals witnessing steady growth 13% Y-o-Y; ✓ Retail revenues grew by 12% driven by sustained momentum ☐ EBITDA at Rs 1,088 crore; Y-o-Y increase of 13% PAT at Rs 391 crore, Y-o-Y increase of 21% Revenue (in Rs crore) EBITDA (in Rs crore) PAT (in Rs crore) 12% 13% 1,088 cr 391 cr 1,412 cr 21% 1,260 cr 961 cr 323 cr Q1FY23 Q1FY24 Q1FY23 Q1FY24 Q1FY23 Q1FY24 32#33DCCDL (Consolidated): Financial Summary - Q1FY24 Revenue up by 12%; PAT at Rs 391 crore; 21% Y-o-Y growth DLF % change Y-o-Y Particulars Q1FY24 Q4FY23 % change Q1FY23 Q-o-Q Rental Income Office 856 859 759 13% Retail 187 194 (4%) 167 12% Service & Other Operating Income 352 338 4% 299 18% Other Income 16 37 (55%) 35 (53%) Total Revenue 1,412 1,428 (1%) 1,260 12% Operating Expenses 324 347 (7%) 299 8% EBITDA 1,088 1,081 1% 961 13% Finance cost 397 406 (2%) 361 10% Depreciation 152 156 (2%) 151 PBT 540 518 4% 449 20% Tax 149 166 (11%) 123 21% Other Comprehensive Income 42 (3) Total Comprehensive Income 391 394 (1%) 323 21% 33 33#34DCCDL (Consolidated): Cash Flow Abstract Net Surplus generation of Rs 448 crore DLF Particulars FY23 Q4FY23 Q1FY24 Operating Cash flow before Interest & tax 4,103 1,031 1,106 Interest Expense (Net) (1,380) (331) (338) Tax (net)1 (419) (142) (131) Operating Cash flow after Interest & tax 2,304 559 637 Capex (1,196) (277) (189) Net Surplus/Deficit - After Capex 1,108 281 448 Dividend (1,431) (679) Capex advance refund (Hyd Sez) 582 Net Surplus/Deficit 259 (398) 448 34#35DCCDL (Consolidated): Balance Sheet Abstract Particulars Non-Current Assets Current Assets Total Assets Equity As on 30.06.2023 29,574 1,209 DLF As on 31.03.2023 29,408 2,311 30,783 31,719 6,818 6,429 Non-current Liabilities 19,778 19,075 Current Liabilities Total Liabilities 4,187 6,215 30,783 31,719 35#36DCCDL (Consolidated): Debt Update - Q1FY24 Sources DLF Particulars Q1FY23 Q4FY23 Q1FY24 Gross opening debt 20,137 20,486 20,817 Bank, 15,001 crs, Less Debt repaid during quarter (1,290) (719) (4,044) 78% Add New Borrowing during Qtr. 2,000 1,050 2,522 Less Cash in Hand (1,586) (2,045) (967) Net Debt Position 19,261 18,772 18,328 Interest Rate Movement 7.05% 7.02% Diversified sources of funding NCD, 4,170 crs, 21% Others, 125 crs, 1% 8.08% 8.13% > 3 Yr, 11,852 crs, Repayment Schedule < 1 Yr, `1,798 crs, 9% 62% 62% Repayment > 3 years FY21 Exit FY22 Exit FY23 Exit Q1FY24 1 < 3 Yr, ` 5,646 crs, 29% 36#37Disclaimer DLF This presentation contains certain forward-looking statement concerning DLF's future business prospects and business profitability, which are subject to a number of risks and uncertainties & the actual results could materially differ from those in such forward-looking statements. The risks and uncertainties relating to such statements include, but are not limited to, earnings fluctuations, our ability to manage growth, competition, economic growth in India, ability to attract & retain highly skilled professionals, time & cost overruns on contracts, government policies and actions related to investments, regulation & policies etc., interest & other fiscal policies generally prevailing in the economy. The Company does not undertake to make any announcements in case any of these forward-looking statements become incorrect in future or update any forward-looking statements made from time to time on behalf of the Company. Area represented in msf within the presentation above should be read with a conversion factor of ~1 msf = 92,903 sq. meters. 37#38One Midtown, New Delhi DLFA 38 Artist's impression; not an actual image