HDFC Corporate Update

Associates and Subsidiaries PROPERTY FUNDS HDFC PROPERTY VENTURES HDFC India Real Estate Fund International LLC comprises two funds: HIREF International LLC - Launched in 2007 Fund corpus US$ 800 million - Fund has made 14 investments - 9 exits have been made and the Fund is in the process of exiting from the balance investments; HIREF International LLC II Pte Ltd. - Fund corpus: US$ 321 million Final close in April 2015 International investors, 8 year close-ended fund Fund has made 10 investments of which 3 investments have been profitably exited HDFC HDFC CAPITAL ADVISORS HDFC Capital Affordable Real Estate Fund (HCARE) - - - - - Set up as a SEBI registered AIF in 2016 HCARE 1 & 2 together create a US$ 1.1 bn platform targeting affordable & mid-income residential projects The objective is to provide long-term equity and mezzanine capital to developers building affordable and middle-income housing across India's leading 20 cities Primary investors in HCARE 1 & 2 is a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) along with the National Investment and Infrastructure Fund (NIIF) in HCARE-2 HDFC Capital Advisors is the investment manager for the funds and is one of the largest real estate fund managers in the country Also an investment advisor to a special situations fund focused on high yield opportunities in the Indian residential real estate sector. 40

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