We are an integrated (i) construction and (ii) infrastructure development and management company in India, having successfully implemented a diverse portfolio of projects with a strategic capability to develop environmentally sustainable projects. Since commencing our business in 1994, we have constructed and developed projects servicing various industry sectors, such as water and waste water, transportation, irrigation, industrial parks (including SEZs), power transmission and distribution, residential, commercial and retail property developments and a transport terminal development. We are headquartered in Hyderabad, Andhra Pradesh, and have [five zonal offices and three regional offices] to manage our business operations throughout India and an overseas office at Sharjah, UAE. Our pan-India presence has allowed us to service the growing infrastructure needs throughout the country.

Our Company is the flagship company of the Ramky Group, a group of affiliated companies that provide services in relation to waste management, environmental consulting, finance and accounting, data management, indirect procurement, real estate development, pharmaceuticals and emerging technologies.

We operate in two principal business segments (i) a construction business which is operated by our Company, and (ii) a developer business which is operated through [11] Subsidiaries and Associates. A majority of our development projects are public private partnerships and are operated by separate special purpose vehicles promoted by our Company and the Government. Our wholly owned subsidiary in the United Arab Emirates, Ramky Engineering and Consulting Services FZC, operates a [small] consultancy business.

Our work force, as at June 30, 2009, consisted of [1448] full-time employees on a consolidated basis. We own a large fleet of sophisticated construction equipment, including, crushing plants, hot mix plants, wet mix plants, asphalt batching plants, concrete batching plants, transit mixers, concrete pumps, reversible drum mixers, excavators, rock breakers, backhoe loaders, graders, pavers, compactors, tower cranes, mobile cranes, dozers, tough riders and bar bending & cutting machines. Our work force, machinery assets, financial net worth and past execution capabilities enable us to undertake many large-scale projects.

:: The Company   (Construction Business)

The Company, which operates in the construction business, undertakes projects in the following sectors:

Our construction business is operated by the Company and consists of infrastructure and civil construction services. We executed our first infrastructure project in 1994. In recent years India has witness tremendous growth in infrastructure development. Increased investment in infrastructure has led to a surge in the activities at the construction industry. We believe that construction and infrastructure projects will continue to be a significant business driver for us. We have developed skill sets in providing engineering and construction services for a diverse range of industry sectors, such as Water and Waste Water, Irrigation, Transportation, and Power Transmission and Distribution. We also provide engineering and construction services for industrial projects and buildings.

The table below provides a breakdown by sector of the number of projects that our construction business has completed from April 1, 2002 to June 30, 2009 and the [aggregate value of these completed projects].

Completed Projects – Building Construction

Completed Projects – Irrigation

Completed Projects – Industrial

Completed Projects – Transportation

:: Developer Business

Our developer business began in Fiscal 2007 and is an extension of our operations and competencies in the civil and infrastructure construction businesses. Development projects are usually undertaken on a public private partnership basis with the Government [and are awarded only after qualifying through a competitive bidding process].

Each of the entities that comprise our developer business is a special purpose vehicle formed for the development of a project and [jointly controlled] by the Government and us. The table below gives summary details of each of our subsidiaries and Associates that comprise our developer business.

Ramky Pharma City (India) Limited

Ramky Pharma City (India) Limited, in which the company has a 50.72% beneficial interest, is currently developing the Jawaharlal Nehru Pharma City Industrial Park at Parawada, Visakhapatnam. This is an integrated industrial park aimed at bulk drug manufacturers, pharmaceutical companies and fine chemical manufacturers. When complete, the industrial park will be 2,120 acres, of which 611 acres has been notified as a sector specific SEZ industrial park. When complete, the industrial park will have a saleable/leaseable area of approximately 1,427 acres. The total project cost is expected to be Rs. 4,009.58 million. The project is being developed on a BOO basis.

The features of the industrial park will include power, water, a road network with street lighting, a common effluent treatment plant, a hazardous waste management facility, a marine outfall for the disposal of treated effluents, a dedicated telephone exchange with internet connectivity, a central fire protection service, a logistics hub, container terminals and a common warehouse facility. The amenities will include banking facilities, a primary health centre, food courts and a club house. Regulatory approvals for businesses operating at the park are at the park level under a single window clearance concept. The construction of the industrial park is due to be completed by the end of 2009.

MDDA Ramky Inter State Bus Terminal Limited

MDDA Ramky Inter State Bus Terminal Limited, which is 100% owned by the company, operates the Inter State Bus Terminal, Dehradun.  This bus terminal is one of the first interstate bus terminals to be built on a BOT basis in India.  The bus terminal was built by the company and the construction was completed in June 2004. The cost of construction was approximately Rs. 131 million. The bus terminal comprises 49 bus passenger drop off and loading bays, 54 shops, which are leased, parking for approximately 225 cars and a 10-bed dormitory. MDDA Ramky Inter State Bus Terminal Limited earns revenue from bus terminal fees, rental fees from shops, vehicle parking fees, fees from advertisements on hoardings and wall space, accommodation charges from the dormitory located at the bus terminal, and operation and maintenance fees.

MDDA Ramky Inter State Bus Terminal Limited, in the second phase of the project, is developing a 110,000 square feet commercial mall. The mall will include shops, a three-screen multiplex, three food courts and parking bays. The cost of the mall is expected to be Rs. 152.40 million and it is expected to be completed before the end of March 2008. The contracts for the construction of the mall were awarded to various companies. MDDA Ramky Inter State Bus Terminal Limited will earn revenue from the mall from upfront lease payments, parking fees, fees from advertisements on hoardings and wall space and operation and maintenance charges.

Gwalior Bypass Project Limited

Gwalior Bypass Project Limited, in which the company has a 51% interest, is developing a 42 km road that will connect NH-3 & NH-75 in Madhya Pradesh. The road is being built on a BOT basis, with semi-annuity payments. Construction of the road is expected to cost Rs. 3,321.12 million. The construction of the road began in April 2007 and is expected to be completed by October 2009.

Ramky Towers Limited

Ramky Towers Limited, in which the Company has a 51% interest, is developing an integrated residential and commercial project on 17.10 acres of land in Gachibowli, Hyderabad, Andhra Pradesh. The development will have a saleable area of 1,466,190 square feet. There will also be a 20,670 square feet club house, which will not be for sale.  The estimated project cost is Rs. 2,667.37 million. Construction of the development began in April 2007 and it is scheduled to be completed by mid 2010.

Ramky Hyderabad Ring Road Limited

Ramky Enclave Limited

Ramky Enclave Limited in which the company has 89.01% interest, is developing an integrated housing project on 32 acres of land.  It will have a saleable area of 1,058,254 square feet. There will also be a 20,000 square feet club house, which will not be for sale. The estimated project cost is Rs. 1,120.07 million. Construction of the housing project began in December 2007 and is expected to be completed by June 2010.

Ramky Herbal and Medicinal Park (Chhattisgarh) Limited

Ramky Herbal and Medicinal Park (Chhattisgarh) Limited has been awarded the concession to develop a 250-acre herbal and medicinal industrial park in the district of Dhamtari, Chhattisgarh on a BOT basis. The concession period is 90 years. When complete, the project will have a leaseable area of 150.33 acres. The estimated project cost is Rs. 964.43 million. The construction of the project is expected to start in 2009 and be completed by October 2014. The company currently has 100% interest in Ramky Herbal and Medicinal Park (Chhattisgarh) Limited but will end up with 89% interest after financial closure of the project. The other 11% interest will be owned by Chhattisgarh Infrastructure Development Corporation Limited (“CIDC”), an entity owned by the Government of Chhattisgarh.

Ramky Food Park (Chhattisgarh) Limited

Ramky Food Park (Chhattisgarh) Limited has been awarded the concession to develop a 303-acre food processing industrial park in the district of Rajnandagao, Chhattisgarh on a BOT basis.  The concession period is 90 years.  It will have a leaseable area of 195.15 acres. The estimated project cost is Rs. 834.84 million. The construction of the project is expected to begin in 2009 and be completed by October 2014. The Company currently has 100% interest in Ramky Food Park (Chhattisgarh) Limited. However, after financial closure of the project, the Company will have 89% interest and CIDC will have 11% interest in Ramky Food Park (Chhattisgarh) Limited.

Ramky Gems & Jewellery Park (Chhattisgarh) Limited

Ramky Gems & Jewellery Park (Chhattisgarh) Limited has been awarded the concession to develop a 70-acre gem and jewellery SEZ in the district of Raipur, Chhattisgarh on a BOT basis.  The concession period is 90 years. When complete, it will have a leaseable area of 42.03 acres. The estimated cost of the project is Rs. 1,834 million. The construction of the project is expected to begin in 2009 and be completed by October 2014. The Company currently has 100% interest in Ramky Gems & Jewellery Park (Chhattisgarh) Limited. However, after financial closure of the project, the company will have 26% interest, CSDIC 11% interest, Aetens Goldsouk  International Ltd 21% interest, P.D. Gupta Infratech Private Limited 21% interest and Chhattisgarh Futuristic Infrastructure Private Ltd 21% interest  in Ramky Gems & Jewellery Park (Chhattisgarh) Limited.

Ramky Integrated Township Limited

Ramky Integrated Township Limited, in which the company has a 30.60% interest, is developing an integrated township project called Discovery City on 400 acres of land in Srinagar Village, Maheshwaram Mandal, R. R. District, Andhra Pradesh on a BOO basis. The proposed project will have 45% residential developments, 5% social developments (police stations, fire stations, etc.) and will include commercial and industrial developments. 5% of the developed area of the project is to be set aside for the weaker classes. The development will have a saleable area of approximately 16 million square feet. The preliminary estimated project cost is Rs. 19,492 million.  A more detailed estimate of the project cost will be prepared after completion of the detailed project report which was scheduled to be completed by May 12, 2007. The construction of the project was expected to begin in October 2008. 

The project was awarded by HUDA to our consortium, which comprises of the company (51% interest), Ramky Estates and Farms Private Limited (38% interest) and Mumbai Waste Management Limited (11% interest), both of which are Promoter Group companies, in a letter of award dated November 12, 2007. A shareholders agreement was among the consortium between Ramky Integrated Township Limited and the owners of the land on which the project is to be built. The letter of award requires the development agreement for the project to be executed among HUDA and the parties to the shareholders agreement within a period of 15 days from the date of the execution of the shareholders agreement. The letter of award sets forth a number of significant events of default that will enable HUDA to cancel the letter of award prior to the signing of the development agreement.

Haldia Development Authority (“HDA”) and the company have entered into a Memorandum of Understanding with respect to the company developing a 2,500 acre pharmaceutical, bio-technology and chemical park in Haldia, West Bengal. HDA has agreed to acquire this land on an urgent basis and sell it to the Company. HDA has agreed to make available a minimum of 650 acres for the park. The Company has agreed to pay the cost of the land plus 10%. It has also agreed to pay for any rehabilitation work on the land. The features of the park will substantially be the same as Pharma City. When complete, the park will have a leaseable area of approximately 1,500 acres. The preliminary estimated project cost for the entire 2,500 acre development is Rs. 9,500 million.