GPT Infraprojects Limited

Corporate Presentation

June 2016

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“Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase

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• Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects

that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance

and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties

include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the

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Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or

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Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements

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Safe Harbor

2

Content

1. About GPT Infraprojects

2. Concrete Sleepers Division

3. Infrastructure Division

4. Customers

5. Management, Corporate Structure, Independent Directors & Auditors

6. Corporate Social Responsibility

7. Growth Prospects & Focus Area

8. Key Financials

3

About GPT Infraprojects

4

Incorporated in 1980, GPT Infraprojects Limited is a fast-

growing civil construction and manufacturing company

based out of Kolkata

Employee strength of more than 1,000 including 100+

engineers

GPT’s businesses are divided into two segments:

» Infrastructure: Involved in civil infrastructure projects

for Railways, Roads, Airports, and Urban Infrastructure

» Concrete Sleepers: Involved in manufacture of

concrete sleepers for railways systems in India and

abroad

For FY 2016, GPT recorded gross revenues of INR 5,028 mn

GPT has orders under execution of more than INR 16,500

mn

Key Milestones

2010

2012 2013

2015

PE investment by Nine Rivers Capital

Ltd

Partnered with Govt. of Namibia for

setting sleeper plant in Namibia

Entered road construction with BOT

order from NHAI

Turnover surpassed

INR 4,500 mn

Average order size crossed INR

500 mn

Recorded highest ever revenue

of INR 4,860 mn

Average order size is INR 780 mn

Bagged order worth INR 2,465

mn from GMR Infrastructure

2011

2014

Production capacity at

Ladysmith doubled

1980

2004

Incorporated

Entered

infrastructure

construction Turnover surpassed INR 1,000 mn

Received Emerging India

award

Shares listed on BSE

2007

1999

2006

2009

First foreign venture

with Bangladesh

railways

Won a concrete sleeper

order from Mozambique

Commercial production

begins in South Africa

1986

Shares listed on CSE

5

Guiding Principles

CORPORATE VALUES

Delivering value & true worth to client

through cost-efficiency, timely delivery, technical

expertise & quality.

Integrity & transparency in all

dealings with stakeholders,

including clients, employees and

associates.

Treating employees like family &

motivating them to develop their

talents & grow with us.

Always striving to expand our

horizons by higher growth and continuous

improvement.

Acting as socially responsible

corporate citizens by giving back to society & country.

6

Concrete Sleepers Business

Commenced production in 1982 and became one of the earliest entrants in

concrete sleepers for Indian Railways

Key facility located at Panagarh, 160 km from Kolkata:

» Plant production capacity of 480,000 sleepers is one of the largest in India

» Manufacture concrete sleepers for mainline, curves, bridges, level crossings,

points & crossing

» Manufactured more than 10 Million concrete sleepers for Indian Railways,

IRCON, RITES, SAIL, NTPC, Tata Steel, DVC, etc.

Received INR 2,465 mn worth order from GMR Infrastructures Limited in

November 2015 for supply of 1.45 mn Sleepers for Eastern Dedicated Freight

Corridor Contract (World Bank funded)

A pioneer in export of concrete sleepers / plants for foreign railway systems:

» Pioneered use of indigenous “stress-bench” production system in foreign

countries, where manpower is available

» GPT’s capabilities cover entire value chain

7

Concrete Sleepers: Global Footprint

•Two orders for turnkey installation of concrete sleeper plants

•Transfer of production technology, training and track design

MYANMAR

•Supplied Dual Gauge Concrete Sleepers for prestigious Jamuna Bridge Rail Project

•Recently supplied 300,000 MG sleepers and 200 sets turnouts

BANGLADESH

•Manufactured 750,000 sleepers for World Bank funded Sena Line Project

•Installed 2 plants in Mozambique in record time of 6 months

MOZAMBIQUE

•Supplied 160,000 sleepers for Sri Lankan Railways and 140 sets of turnouts

•Sleepers manufactured at Panagarh plant and exported in containers

SRI LANKA

•Supplied Transnet Freight Rail 1,000,000 sleepers over 5 years

•Incorporated subsidiary & established state-of-art plant at Ladysmith near Durban with technology from UK

•Annual capacity: 500,000 sleepers

•Production commenced in April 2009

SOUTH AFRICA

•Entered into agreement with TransNamib Holdings for setting up sleeper plant

•Commercial production commenced in 2011, manufactured 375,000 sleepers till date

•Annual capacity: 200,000 sleepers

NAMIBIA

8

Infrastructure: Value Proposition

• Executing work of 38 major road bridges under Tripura PWD on turnkey basis, i.e. including survey, design, engineering and construction

• BOT Annuity project from NHAI on Design & Build basis, including own design and engineering

CONCEPT-TO-COMMISSIONING

OF COMPLEX INFRASTRUCTURE

PROJECTS

• Completed rehabilitation of Dona Ana Bridge over River Zambezi in Mozambique involving replacement of corroded steel components

• Construction of washed-away Railway Bridge on Howrah-Chennai route completed 21 days ahead of schedule

TIMELY DELIVERY OF TECHNICALLY &

LOGISTICALLY CHALLENGING

PROJECTS

• Used “slipform” shuttering for construction of tall substructures for Railway Bridge over River Barakar

• Innovative erection methods to replace old girders in running traffic conditions

• “Cantilever” method of erection adopted for large span steel structures

ENGINEERING & TECHNOLOGICAL

INNOVATION

9

Infrastructure: Core Areas

GPT’s Infrastructure Division executes civil infrastructure projects

mainly in roads, railways and industrial infrastructure sectors for

government sector clients

Expanded execution capabilities and widened client base since

commencement of infrastructure activities in 2004

» Achieved phenomenal growth in order bookings & turnover with

CAGR of ~60% in last 5 years

» Focusing on contracts of larger magnitude with high value addition

Core expertise in infrastructure works includes:

» Construction of riverine bridges on deep well or pile

foundations, with steel or concrete superstructure of large

spans

» Structural steel fabrication and launching of large span steel

superstructures over perennial rivers or in running traffic conditions

» Capability to undertake turnkey rail & road infrastructure works,

including construction of embankment, rigid & flexible pavements,

flyovers, ROBs, and rail track

10

Market Segments: Bridges

11

GPT’s Core Strengths

» Capable of executing projects from foundation to finish on turnkey basis

» Awarded Certificate of Excellence for Contract Execution by Eastern Railway in 2007-08 and

2008-09 for innovative construction methods

» Expertise in construction of all major types of foundations and superstructure

Important Projects

» 31 Bridges for Tripura PWD - approx INR 2,500 mn

» Bridges for RBDCK in Cochin, Kerela

» Bridge over River Barrakar for Eastern Railway

Market Segments: Steel Bridges

GPT’s Core Strengths

» One of only 3-4 companies involved in construction of

mega bridges with steel superstructure for Indian

Railways

» One of the largest order books for steel bridge

construction

» Capable of executing projects involving challenging

erection / construction methodologies, including in

difficult terrain, flowing rivers and running traffic

Important Projects

» Double Decker Rail-cum-Road Bridge over River Ganga at

Patna, the longest steel bridge in India – INR 2,420 mn

» 1.8 km long Railway Bridge over River Kosi at Nirmali in

Bihar for East Central Railway – INR 580 mn

» 980m long Railway Bridge over River Mahanadi in Orissa

for RVNL – INR 400 mn

12

Market Segments: Rail & Road

13

GPT’s Core Strengths

» Ability to offer end-to-end solutions for road and railway infrastructure including planning,

design, construction & maintenance

» Experience in construction of elevated metro & light rail systems

» Expertise in construction of heavy duty concrete pavements for airports

Important Projects

» Gauge conversion of railway track between Bardhaman - Balgona (26 km) including earthwork,

blanketing, major & minor bridges, track linking – INR 700 mn

» Concrete tram pavements in Kolkata – INR 380 mn

» Tram Track at Ripon Street & Rafi Ahmed Kidwai road in Kolkata

Market Segments: Industrial & Power

14

GPT’s Core Strengths

» Given GPT’s expertise in foundation works & structural

fabrication for bridges, industrial infrastructure work is a

natural progression

» Track record of timely execution gives an edge in this

sector, where delivery schedules and deadlines are strictly

enforced

» Large industrial infrastructure works generally also require

investment in railway sidings, merry-go-round (MGR)

railways, roads, etc. where GPT has significant

competencies

Important Projects

» Industrial Infrastructure and allied works for carriage cum loco repair workshop at Harnaut

for EC Railway

» Industrial Infrastructure for MGR line for NTPC in Kahalgaon, Jharkhand

» Construction of Civil Infrastructure for HVDAC terminal for BHEL in Agra – INR 1,450 mn

Key Customers

Railways & PSUs NHAI, State PWDs, & Dept. Other Key Customers International customers

RICON

(a JV of RITES & IRCON)

15

Core Management Team

16

Name Designation Background

DP Tantia Chairman 35 years experience in the infrastructure sector

Leads Company's international initiatives

Hony. Consul of Ghana in Kolkata

SG Tantia Managing

Director

28 years experience in infrastructure and civil construction sector

Strong team building and project execution capabilities

Responsible for marketing and business development functions

Atul Tantia Executive

Director

BS in Economics & Systems Engg. from Wharton School, UPenn

Responsible for international businesses, incl. operations & business development

AK Dokania Chief Financial

Officer

B. Com, FCA with over 25 years experience in accounting, finance and banking for infrastructure sector

Strong background in audit, taxation and legal matters

Vaibhav Tantia Director & Chief

Operating

Officer

BS in Economics & Civil Engg. from Wharton School, UPenn

Responsible for execution of infrastructure projects and tendering

Subrata Ray Sr. Vice

President

(Technical)

B. Tech in Civil Engineering from Bengal Engineering College, having rich experience of over 35 years,

with leading construction companies as well as consultancy firms

Responsible for technical and design-related matters in construction projects, tendering and contract

management

US Singh Sr. Vice

President

(Planning & HR)

B. Tech in Mechanical Engineering from IIT Kharagpur

Post Graduate in HRD & Certified Management Consultant

Leads HR initiatives, incl. training, recruitment, performance management

DB Patra General Manager

(Projects)

B. Tech in Civil Engg. with 15 years’ experience in large civil infrastructure projects

Niraj Sinha Head (Africa

Operations)

B. Tech in Mechanical Engineering with over 8 years experience working in Africa

Heads GPT’s African Operations based in South Africa

GPT INFRAPROJECTS LIMITED

BOARD OF DIRECTORS

Mr. D. P. Tantia

Chairman

Mr. S. G. Tantia

Managing Director

Mr. Vaibhav Tantia

Director & COO

Sr. Vice President (Technical)

Vice President (Structures)

General Manager (Tender & Contracts)

Vice President (Projects)

Project Co-ordination Group

Resources & Material Procurement Group

Mr. Atul Tantia

Executive Director

Vice President

(Domestic Operations)

DGM

(Exports)

Finance and Treasury Group

Head (Africa Operations)

Vice President (IT)

Mr. Arun Kr. Dokania

Chief Financial Officer

Vice President

(Finance & Accounts)

Company Secretary

Vice President

(Internal Controls)

DGM (Direct Taxes)

DGM (Indirect Taxes)

Mr. U. S. Singh

Sr. VP (Planning & HR)

DGM (Quality Control)

General Manager (HR)

DGM (Health & Safety)

Corporate Office Organogram

17

Directors & Auditor

Independent & Nominee Directors on the Board

Name Designation Background

Viswa Nath Purohit Independent Director

Fellow Member of the Institute of Chartered Accounts of India

Has LLB and FICA qualification

55 years of experience in Accounts, Finance and Taxation

Nitindra Nath Som Independent Director Renowned expert in Soil Mechanics in the country

Was Head of Civil Engineering, Jadavpur University, Kolkata

Sunil Patwari Independent Director CFA, MBA-Finance(IIM)

Wide experience in the area of business management, accounts, taxation and finance

Mamta Binani Independent Director President of The Institute of Company Secretaries of India

15 years of experience in corporate consultation & advisory

Shankar Jyoti Deb Independent Director

Bachelors in Science and B.E. in Civil Engineering from I.I.T. Roorkee

Completed programme in Finance Management from I.I.M., Calcutta

Wide experience in designing, engineering and implementation of several civil projects

Kunal Kumthekar Nominee Director Nominee Director of Nine Rivers Capital

Rich experience in financial markets and was associated with JM Financial

Statutory Auditor

S R Baltiboi & Co., Member firm of Ernst & Young

18

Corporate Social Responsibility

19

Given our long association with Panagarh since 1980, GPT has

undertaken initiatives for establishment of quality education

facilities:

» Sponsored construction of new wing at Panagarh High School

including classrooms, computer & science labs

» Commissioning of sanitation facilities & new computers

» GPT has also committed to take up another expansion project of

a school catering to students of tribal & backward class in the

area

GPT is an active contributor to Group’s charitable trust,

Govardhan Foundation, which is involved in charitable initiatives

in education, health & social sectors:

» Free treatment of patients in need, especially with life

threatening diseases like thalassemia

» Development of sanitation system for villages

» Education facilities for poor children in geographic regions where

it operates

• Increase in capital allocation for infrastructure & railway by Government of India. More than INR 8,500 bn to be

invested in railways in next 5 years

• Investment of INR 65,810 mn for constructing 917 RUBs and ROBs to substitute 3,438 railway crossings

• Around 350 Bridges and ROBs construction on highways under Setu Bharatam scheme presents opportunity

• Rehabilitation of old operational steel girder bridges, and increased spending on doubling, tripling and new lines

• Investment in decongestion of railway network by increasing track length by 20%

Growth Prospects: Revival in Railways

20

Railway Capex Plan (FY16-20) INR bn

Network decongestion (including DFC, electrification, doubling) 1,993

Network expansion (including electrification) 1,930

National projects (Northeastern & Kashmir connectivity projects) 390

Safety (track renewal, bridge works, ROB, RUB and signaling & telecom) 1,270

Rolling stocks (locomotives, coaches, wagons – production & maintenance) 1,020

Station redevelopment and logistic parks 1,000

Passenger amenities, High speed rail & elevated corridor, IT and Other 957

Total 8,560

• Ministry of Railway’s commitment to build nearly 2,800 km dedicated freight corridors by 2022

to result in more DFC contracts

• Sleepers manufacturing opportunity for GPT:

» 1 km of DFC requires ~1,600 sleepers (with 6,000 km length spanning both ways, the opportunity

is as huge as 10 million sleepers)

» GPT has already won order from GMR worth INR 2,465 mn for EDFC

• Bridges opportunity under DFCs (over 1,600 bridges/ ROBs/ RUBs):

» EDFC to include construction of 104 bridges, 368 ROBs, RUBs and 21 flyovers; also includes

reconstructing nine existing ROBs and extending ten existing RUBs

» WDFC to include 262 bridges, 33 flyovers, 505 ROBs and 200 RUBs; also includes the reconstruction

of 24 existing ROBs and lengthening ten existing RUBs

21

Growth Prospects: DFCC opportunities

• Strong presence in Africa, where transportation and infrastructure

demand is growing:

» One among three suppliers in South Africa

» Only supplier in Namibia

• Key Growth driver for African railways:

» Need for effective and integrated logistics to manage global supply

chain, especially South Africa

» Emergence of metropolitan cities need new urban transport system

» Increase in mining activities require high capacity rail infrastructure

to provide better economy than road transport

Growth Prospects: Presence in Africa

22

Key Focus Area

• Improving working capital cycle through better payments from customers

• Focus on trimming interest costs to improve EBITDA margin

• Striving for challenging contract that need high degree engineering skill and

offer higher margins

• Growing business proportionately by leveraging expertise to tap emerging

opportunities

• Improving capabilities in the EPC segment and expanding into industrial

projects

• Forming strategic joint ventures to share technical know-how and entering

new fields of work

23

A. Rails & Roads

Provide end-to end

solution

Expertise in

constructing

elevated metros,

concrete

pavements

Railway bridge projects expected under DFC

Bridges construction initiatives by NHAI &

State government

Elevated track and flyover projects expected

B. Bridges

Undertaking

turnkey projects

Expertise in

foundation and

superstructure

Innovative

construction

Big projects expected to come from NHAIs & State

PWDs

Flyovers & Metro projects expected to

come from government

C. Steel Bridges

Constructing mega

bridges with steel

superstructure

Executing projects

over difficult

terrain, flowing

river,

Railway board stresses to build steel girder bridges

Railways plan to rehabilitate old bridges

with steel girders

D. Industrial Infra

Capability in

foundation work &

structural

fabrication

Expertise in

executing railway

siding, roads

Heavy foundations, steel

fabrication work for power sector

Power plants and construction of

workshop/factories for railway captive use

Capitalizing on the Growth

Core Strength

Opportunities

Investment from Airport Authority in Non-Metros

& Tier II cities

24

Q4 FY16 and FY16 Consolidated Financial Highlights

25

INR Million Q4 '16 Q4 '15 YoY% FY16 FY15 YoY%

Revenue 1,772 1,331 33.2% 5,021 3,898 29.3%

Other Operating Income 2.3 8.0 -71.5% 6.8 21.8 -55.2%

Net Sales 1,775 1,339 32.5% 5,028 3,920 29.0%

Operating expenses 1,629 1,200 35.8% 4,347 3,309 31.4%

EBITDA 146 139 4.6% 680 590 15.3%

EBITDA margin 8.2% 10.4% - 13.5% 15.1% -

Depreciation 28 51 -44.0% 191 198 -3.6%

Other Income 55 24 132.0% 96 73 32.1%

Interest 92 102 -9.3% 386 407 -5.0%

PBT 79 10 672.2% 200 58 241.6%

Tax Expenses (Credits) 46 12 - 72 17 -

PAT 33 -1.6 - 128 42 208.2%

Minorities -0.1 -2.9 -98.0% 5.3 0.06 765.8%

PAT after Minorities 33 1.3 2391.4% 123 41 199.9%

PAT Margin 1.9% 0.1% - 2.6% 1.1% -

Consolidated Balance Sheet

26

INR Million Mar’16 Mar’15

Share Capital 143 143

Reserves 1,522 1,480

Shareholder's Funds 1,665 1,623

Secured Loans 40 135

Def Tax Liabilities 76 56

Long Term Provisions 18 22

Total Non-Current Liabilities 134 213

Trade Payables 1,295 1,226

Other Current Liabilities 856 852

Short Term Borrowings 2,206 2,134

Total Current Liabilities 4,357 4,212

Minority Interest 42 40

Total Liabilities 6,197 6,089

INR Million Mar’16 Mar’15

Fixed Assets incl. CWIP 1,168 1,318

Long Term Loans & Advances 428 394.5

Other Non Current Assets 336 403.7

Total Non-Current Assets 1,932 2,116

Currents Investments - 7

Inventories 727 700

Sundry Debtors 827 727

Cash and Bank 308 181

Short term Loans and Advances 334 341

Other Current Assets 2,069 2,017

Total Current Assets 4,264 3,973

Total Assets 6,197 6,089

Revenue growth of 29% in FY16

27

Strong uptick in revenues (29% YoY growth in FY16)

on back of strong order inflow

Increasing share of infrastructure business in total

revenues in line with the company’s focus and with

increasing order activity from Indian Railways

Revenue growth in the last four years

In INR Mn

5021

3898

45284831

2016 2014 2013 2015

Revenue break-up: Segments Revenue break-up: Geography

9%

3%

88%

South Africa Namibia IndiaInfrastructure Concrete Sleepers

2016 2014 2013 2015

FY16

73.6% 82.4% 76.1% 71.1%

26.4% 23.9% 28.9%

82.4% 76.1% 71.1% 73.6%

26.4% 17.6%

EBITDA and Margin PAT

In INR Mn

15% 14% 13% 13%

680

590608639 123

41

63

137

Continued focus on profitability…

28

2016 2014 2013 2015 2013 2016 2015 2014

EBITDA margin remains healthy even during tough market conditions by focusing on projects with better

margins

PAT of INR 123 mn in FY16 vis-à-vis INR 41 mn in FY15 on back of reduced interest payments and better

working capital cycle

… with reduction in finance cost…

29

Finance charges

Finance charges as % of revenues

In INR Mn

386407

379

322

Components FY '13 FY '14 FY '15 FY '16

Interest on borrowings 236 270 305 284

Interest on advances 41 65 70 61

Finance charges 45 44 32 41

Total 322 379 407 386

Debt repaid during the financial year – INR 190 mn

Reduction in interest rates by banks

Partly interest free mobilization advance

10%

8% 8% 7%

2015 2016 2014 2013

2015 2016 2014 2013

…And improvement in working capital

30

Working Capital (Days) Mar '13 Mar '14 Mar '15 Mar '16

Debtor 83 71 81 60

Other Current Assets 123 161 192 150

Inventory 73 61 80 53

Creditors 95 102 115 94

Net WC Days 184 191 238 169

Working capital cycle stretched in FY15 due to delayed

payments and project certification from clients

FY16 sees improvement with better and faster payments

from clients and higher execution

Consistent follow-up with clients for pending collection

Mobilization advance, 50% of which is interest free

Working Capital Days

169

238

191184

2016 2014 2015 2013

Diversified order book – over 75% from infrastructure

31

Order book – INR 16.5 bn

In INR Mn

Project Description Client

Order

Value (INR

mn)

Segment

Approach bridge for

Burdwan ROB RVNL 1,143

Railways

Track &

bridges ROB Flyover between

Sankrail and Santragachi

Stations

South

Eastern

Railway

1,133

Bridge over Katakhali,

Hasnabad

West Bengal

PWD 813

Roads &

Roads

bridges

Fabrication, Erection of

Bridge in Manipur

Northeast

Frontier

Railway

801

Railways

Steel

Bridges

Construction of Intake Well

for Raghunathpur Power

Plant

DVC 641 Industrial

Top 5 infrastructure orders

Infrastructure 75%

Concrete Sleepers

25%

For further information, please contact:

Contact Information

GPT Infraprojects Ltd. Stellar IR Advisors Pvt. Ltd.

CIN L20103WB1980PLC032872 U74900MH2014PTC259212

Name Atul Tantia Gaurang Vasani / Pooja Dokania

Email atul@gptgroup.co.in vgaurang@stellar-ir.com /

dpooja@stellar-ir.com

Company website www.gptinfra.in www.stellar-ir.com