ANIK DEVELOPMENT CORPORATIONMAYFAIR HOUSING

TATA HOUSING DEVELOPMENT COMPANY LIMITED.

NAVI MUMBAI SPECIAL ECONOMIC ZONE

(NM SEZ)“ A GLOBAL SEZ”

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ABOUT SPECIAL ECONOMIC ZONE

(SEZ)

► GOVERNMENT OF INDIA ANNOUNCED SEZ POLICY.

► SEZ - Deemed foreign territory.

► Hassle free, Business Friendly, One-stop clearance, and Minimum Inspection business environment.

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ABOUT SPECIAL ECONOMIC ZONE

(SEZ)► Integrated, High-Quality, Reliable

World-class Infrastructure

► 100% Foreign Ownership and Foreign Direct Investment for units set up in the SEZ.

► 100% Income Tax holiday to the Developer of the SEZ as well as to Units operating in the SEZ.

► Attractive Tax Incentive provided under Excise Duty / Customs Duty / Sales Tax

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ABOUT NAVI MUMBAI SPECIAL ECONOMIC ZONE

(NMSEZ)► The Government of

Maharashtra has appointed CIDCO for the Developing a “Special Economic Zone” to be set up in Navi Mumbai.

► NMSEZ IDENTIFIED BY CIDCO TO BE DEVELOPED AS SEZ.

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NMSEZ LOCATION

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NMSEZ LOCATION

KALAMBOLI 350 ha.

ULWE RPZ

DRONAGIRI

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INDIA’S BEST LOCATION

► NMSEZ LOCATION IS BEST IN INDIA / SOUTH ASIA

► NMSEZ IS THE MOST VALUABLE PIECE OF VIRGIN LAND IN INDIA

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NMSEZ LOCATION ADVANTAGE

► Proximity to Mumbai – India’s Financial Centre.

► NAVI Mumbai city – new city developed over last 25 years.

► Infrastructure of the surrounding area (Navi Mumbai) to the SEZ already fully developed.

► Touching to JAWAHARLAL NEHRU PORT TRUST (JNPT).

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NMSEZ LOCATION ADVANTAGE

► Well Connected by Train / Roadways with hinterland

► Abundant highly skilled labour available at cheap cost

► NMSEZ – PART OF MAHARASHTRA, India’s leading state in terms of Industry, Trade and Commerce.

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INTERNATIONAL STRATEGIC LOCATION

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NMSEZ LOCATION ADVANTAGE

► STRATEGICALLY LOCATED ON WORLDS AIR SPACE AND SEA ROUTEa. more than 60% of world air traffic use Indian air space.

b. more than 60% of the world sea routes passes through the Indian Peninsula.

c. NMSEZ is at the hub of the AIR & SEA Traffic.

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NMSEZ PROJECT SIZE

LOCATION AREA (HA)

DRONAGIRI 1777

ULWE 400

KALAMBOLI 350

REGIONAL PARK ZONE

1850

TOTAL 4377

“ A GLOBAL SIZE SEZ”

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NMSEZ DEVELOPMENT

PHASESPHASES AREA

(HA)COST (U.S. $

MILLION)

ALREADY DEVELOPED

387 CIDCO.

PHASE – I 400 303

PHASE – II 600 237

PHASE – III 1140 458

PHASE – IV 1850 250 (estimated)

TOTAL 4377 1248

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NMSEZ STRENGTHS

► “GLOBAL SIZE” Infrastructure Project

► A WORLD CLASS INVESTMENT DESTINATION.

► LAND IN POSSESSION/ EARMARKED OF CIDCO.

► Other Infrastructure Projects connected to the development of the NMSEZ:-

Sewri Nhava Transharbour Link Mumbai International Airport Worli Nariman Sea Link JNPT Expansion

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SCOPE OF INFRASTRUCTURE TO BE PROVIDED AND QUALITY -

NMSEZ► Social Infrastructure, Essential

services, Utilities, Transport and Trade Logistic linkages provided

► High Quality, Reliable, Efficient and Cheap Infrastructure Services

► Infrastructure Planning for SEZ on the basis of international benchmarks with possibility of upward scalability.

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BENEFITS TO UNIT HOLDERS

► No requirement of minimum net foreign exchange earning as percentage of exports;

► Unlimited sales to the Domestic Tariff Area subject to certain conditions;

► Exemption from custom / excise duty for import / domestic procurement of goods for setting up of units;

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BENEFITS TO UNIT HOLDERS

► Permission to utilize duty free material over five years unlike for EOU/EPZ where it is one year;

► No license required for manufacturing items reserved for the small-scale sector;

► Permission to sub-contract a part of their production abroad, subject to certain conditions and restrictions;

► All imports allowed on the basis of self-certification. Further, no routine examination by Customs of export and import cargo in SEZ;

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BENEFITS TO UNIT HOLDERS

► 100 per cent foreign direct investment through automatic route available for manufacturing units.

► Retention of 100 per cent of exports earning in Export Earnings in Foreign Currency (EEFC) accounts;

► Export proceeds may be brought back within 365 days rather than the stipulated 180 days for units located outside the SEZ; and,

► Permission to retain credit upto 100 per cent of receipts in foreign exchange.

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BENEFITS TO SEZ DEVELOPERS

► Allocation of developed plots to approved SEZ units on a purely commercial basis;

► Provision of services like supply of water, electricity, security, restaurants, recreation etc. on purely commercial lines;

► Autonomy to develop townships within an SEZ with residential areas, markets, playgrounds, clubs, recreation centre etc.

► Specified goods can be procured from the DTA without payment of duty; Further, import specified goods can be procured at concessional rates of duty in certain cases and

► Entitlements under the Income Tax Act.

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INDUSTRIES TARGETED

The Chosen industries / sectors are filtered on the basis of:

► Growth potential

► Level of technology required

► Matching of the available skills with the skills required.

► Demand of products.

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INDUSTRIES TARGETED

► HI- TECH (Bio, Informatics, Pharmaceuticals, Bio-Tech etc)

► IT & ITES (Hardware, Software, Entertainment, BPO)

► FINANCIAL SERVICES► LIGHT ENGINEERING► HI – TECH MANUFACTURING ► AGRO BASED► GARMENTS AND TEXTILES► TRADING AND DISTRIBUTION

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SHAREHOLDING STRUCTURE OF THE

NMSEZ SPV

► SPECIAL PURPOSE VEHICLE (SPV) TO DEVELOP AND OPERATE THE NMSEZ

STAKEHOLDER %

Govt. Of Maharashtra (through CIDCO)

26.00

Private Sector 74.00

TOTAL 100.00

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LAND TRANSFER MECHANISM

CIDCOCIDCO

NMSEZ SPVNMSEZ SPV

TenantsTenants

Long term lease & Development rightsLong term lease & Development rights

Lease premium andRevenue share

Lease premium andRevenue share

Sub leaseSub lease

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QUALIFYING CRITERIA FOR TENDERERS

ELIGIBLE TENDERERS ARE PARTIES HAVING TANGIBLE NET WORTH OF NOT LESS THAN US $ 50 MILLION (Indian Rupees 2.50 billion) AND

DEVELOPED / INVESTED IN INFRASTRUCTURE PROJECT HAVING PROJECT COST NOT LESS THAN US $ 20 MILLION (Indian Rupees 1.00 billion).

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PRESENT CONSTORTIUM

MEMBERS► ANIK DEVELOPMENT

CORPORATION (See Attached Profile) www.ajmera.com

► MAYFAIR HOUSING (See Attached Profile) www.mayfairhousing.com

► TATA HOUSING DEVELOPMENT CORPORATION LTD. (See Attached Profile) www.tatahousing.com

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ABOUT ANIK

► Belonging to the Ajmera group - Leading Property developers in the country

► 40 Year track record

► Developed several Townships and Mega Housing Projects in and around Mumbai & Gujarat.

► Done backward integration by setting up cement and steel plants.

► Developed state of art and distinct Multiplex Theaters.

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ABOUT MAYFAIR HOUSING

► First to obtain Municipal Reservations (such as roads, Garden, Schools, Retail Markets, Hospitals etc.) and obtain Transferable Development Rights in Mumbai city.

► One of the largest procurers of Transferable Development Rights in the Mumbai city. 25% of the TDRs issued in Mumbai city are through Mayfair Housing.

► One of the few Developers to have composite organizational set up such as, Architectural, Designing, Approvals, Liasioning, Finance, Legal, Marketing etc., within its umbrella.

► Extremely good knowledge about urban development laws and in position to influence the local authorities to policy making.

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ABOUT THDC

► From the stable of the TATA GROUP the most ethical and respected business house in India and number one business house in terms of Sales and asset base.

► Developed some of the most prestigious and state of the art complexes all over India.

► The only Real Estate Developer to have nation wide presence / operations.

► Developed a state of Art Information Technology Park in Mumbai.

► Possesses a very high Brand Equity and is known for its astute marketing ability.

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CONSORTIUM CAPABILITIES – PAST PROJECTS

MEMBER TOTAL AREA DEVELOPED (IN SQUARE FEET)

ESTIMATED SALE VALUE (Rs in Millions)

ESTIMATED NUMBER OF UNITS SOLD

Anik (Ajmera)

1,30,61,500

6,530 28,000

Mayfair Housing

32,00,000

1,600 1,200

THDC 11,00,000

5,500 1,100

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CONSORTIUM CAPABILITIES – ONGOING & FUTURE

PROJECTS

MEMBER TOTAL AREA (IN SQUARE FEET )

ESTIMATED SALE VALUE

(Rs in Millions)

Anik (Ajmera)

91,10,000 4555

Mayfair Housing

14,00,000 700

THDC 8,70,000 435

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STRENGTHS OF CIDCO

► CIDCO a premier town planning and development agency has been instrumental in the development of the Navi Mumbai township.

► Expertise across all disciplines in urban developmenta. Architecture and Urban Planning.b. Transportation and Communication.c. Housing and Urban Infrastructure.d. Economics & Finance, ande. Marketing and Town Services.

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STRENGTHS OF CIDCO

► Total Land owned / developed – 450 Sq Kms

► Development Expenditure > USD 833 million

► Annual Turnover > USD 229 Million

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Work done by CIDCO for NMSEZ

► Master PlanningMcClier (An AECOM Company) of the United States have prepared the concept plan for the entire NMSEZ area and initial master plan for Phase I area.

► Business Plan and Strategic Investor SelectionConsortium comprising Ernst & Young, CRISIL Infrastructure Advisory Services and Chesterton Meghraj have prepare the business plan for the project.

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STRENGTHS OF OUR CONSORTIUM

Established past track record confirming Financial Credibility / Goodwill and dependability for timely completion of projects.

Strong Leadership and entrepreneurial qualities.

In-house Expertise and capabilities for execution of large housing, real estate and infrastructure projects.

Strong political contacts.

Operating in the locality for the past several decades thereby having grip over the local issues, economic and political scenarios, legal framework thus would be better placed to address unforeseen project execution issues.

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CIDCO – OFFER TERMS [SUBJECT TO

NEGOTIATION]► Upfront Premium whose

minimum base price is Rs. 45.24 lakhs per hectare.

► 10% Revenue Gross Revenue Share of the SPV

► 26% Cash less Equity

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CIDCO TO EVALUATE TECHNICAL AND FINANCIAL

CAPABILITY OF BIDDERS

Objective: To evaluate the Bidders Capability to:

►Finance ►Develop, and►Market the Project.

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SHORTLISTED BIDDING PARTIES

► Eight Parties Short listed for FINAL BID.

► 1. Larsen & Toubro Limited, Chennai.

► 2. 1. G.M.R. Power, Chennai2. G.M.R. Infrastructure

► 3. 1. Anik Development Corporation, Mumbai

2. Mayfair Housing

► 4. 1. Videocon International Ltd., Mumbai2. SeaKing Infrastructure Ltd.3. Hiranandani Constructions Ltd.

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SHORTLISTED BIDDING PARTIES

► 5. 1. Essar Construction Ltd.2. Essar Shipping Limited.

► 6. 1. TCG Urban Infrastructure Holdings Ltd.

2. The Chatterjee Fund Management LP.

3. TCG Developments India Pvt.Ltd.

► 7. 1. Reliance Capital Ltd., Mumbai.

► 8. 1. Insignia Financial Group, Dallas / New York

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BID COMPETITION

► Biggest Competition from Videocon – Nikhil Gandhi – Hiranandani Combine

► This consortium roping in Singapore Govt Companies / Organisations

► NMSEZ more suited with participation of Dubai Government then Singapore Government.

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WHAT MAKES SEZ A SUCCESS

► World Class Physical Infrastructure (Water, Power, Road)

► World Class Social Infrastructure (Housing, hospitals, educational institutions, entertainment, recreation parks)

► World Class Telecom Infrastructure – Connectivity.

► Transportation & Logistics (Rail / Port /Air / Water Road Connectivity)

► Friendly Regulations – Labour laws, legislations in place.

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WHAT MAKES SEZ A SUCCESS

► STRONG LINKAGE TO DOMESTIC INDUSTRY (ANCILLARY INDUSTRIAL BASE).

► Professional, Skilled Manpower with expertise in Marketing, finance, production management.

► Master Planning and Integrated development

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SUCCESS OF NMSEZ FROM A DEVELOPER’S

PERSPECTIVE

► Marketing Strengths (Ability to rope in Anchor Tenants and others)

► Strong Planning, Development and Execution skills

► Financial Strength

► Overall Credibility – Strong Team of partners

► National and International Presence

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OPPORTUNITIES WITHIN THE NMSEZ

► RESIDENTIAL : 10.93 crores sq.ft of constrn.(global 1 FSI Potential) i.e. 109.30 million sq.ft.

► OFFICE : 3.06 crores sq.ft of constrn.(global 1 FSI Potential) i.e. 30.6 million sq.ft.

► REGIONAL PARK ZONE (RPZ) AREA : 18 SQ. KM.a. Golf Course.b. Leisure Activities.c. Entertainment city.d. Disney land / Theme parks.e. Hotels.f. Resorts.g. Health and Fitness centre.

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OUR ASSESSMENT OF THE FINANCIAL REQUIREMENT FOR

THE PROJECT ► The total Project cost (Excluding

payment for land to CIDCO is estimated at Rs. 47885 millions (US $ 1000 million).

► The Phase 1 would cost Rs. 12500 million ($ 300 million).

► Peak Financial Requirement is Rs. 6,000 million ($ 120 millions).

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FINANCIAL STRUCTURE OF THE

NMSEZ SPV► Considering the Debt Equity Ration of

2:1 the Financial Structuring will be as follows (Peak Funds Requirement)

EQUITY DEBT

Rs 2000 million(US $ 40 million)

Rs 4000 million (US $ 80 million)

Rs. 6000 million (US $ 120 million)

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PROPOSED CURRENT EQUITY TIE-UP STATUS

MEMBER INDIAN RUPEES IN MILLION

US $ MILLION (approx)

CIDCO 520 11Anik Development Corporation

350 07

Mayfair Housing 350 07Power Utility Provider

300 06

Others 480 09Total 2000 40

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PROPOSED DEBT TIE-UP STATUS

► Advance Negotiations with Financial Institutions / Banks VIZ. IDFC etc.

► Advance Talks with India Development Fund

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ESTIMATED PROFITABILITY

PROJECTION

IRR 20 %

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FIVE WORLD SCALE PROJECTS

► NMSEZ- “A GLOBAL SEZ”

► SEWRI NHAVA - TRANS HARBOUR LINK25 km Rail – Road bridge.

► INTERNATIONAL AIRPORT AT NAVI MUMBAIRegion’s largest Airport.

► WORLI NARIMAN SEA LINKRoad link above sea.

► JNPT EXPANSION5th generation vessel capability development.

► STRONG WATER CONNECTIVITY

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SEWRI NHAVA TRANS HARBOUR LINK

► Required for connecting Mainland to Harbour.

► 25 KM Rail and Road Bridge.

► Estimated Project Cost approx USD 1250 million.

► Revenue Model based on Toll Charge Collection.

► Project Period – 5 years.

► Feasibility and Environmental Impact analysis completed.

► Detailed proposal for Environmental Clearance submitted.

► Bidding for Project Implementation after Environment Clearance.

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2ND MUMBAI INTERNATIONAL

AIRPORT► 2nd Mumbai International Airport required due to

expected congestion in existing airport within next 10 years

► Planned to be located in Navi Mumbai geographically adjacent to NMSEZ

► NMSEZ development to provide boost to Airport viability

► Project Cost approx USD One Thousand Million

► CIDCO to invite bids

► Initial feasibility Study completed

► Awaiting kick-off of NMSEZ Development.

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PROPOSED CONSORTIUM

GOVERNMENT OF DUBAI (THROUGH EMAAR, JAFTZA, DUBAI AIRPORT, DUBAI PORT AUTHORITY or through any of its development arms)

► GOVERNMENT OF MAHARASHTRA (THROUGH CIDCO)

► ANIK DEVELOPMENT CORPORATION

► MAYFAIR HOUSING

► TATA HOUSING DEVELOPMENT COMPANY LIMITED (THDC)

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WHY THE PROPOSED CONSORTIUM

► CREATION OF A TRADE BLOC.

► LEVERAGE SYNERGY AND STRENGTHS OF ALL MEMBERS

► STRONG REASON FOR DUBAI AND MAHARASHTRA TO PARTICIPATE TOGETHER

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WHY THE PROPOSED

CONSORTIUM International Credentials

► Marketing Strength (promote Anchor tenants).

► Experience of Master Planning

► Experience of Property Development and Management

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BUSINESS PLAN FOR DEVELOPMENT OF THE

NMSEZ

► Complete Phase I NMSEZ : THREE YEARS.

► AFTER THREE YEARS START PHASE II & REGIONAL PARK ZONE.

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BUSINESS PLAN FOR DEVELOPMENT OF THE

NMSEZ

► WITHIN TWO YEARS OF LAUNCH OF PHASE I OF NMSEZa. Launch 2nd International Airport.b. Launch Worli Nariman Point Link.c. Launch Phase II & III of JNPT.

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TOTAL VALUE OF PROJECTS

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MUMBAI INTERNATIONAL

AIRPORT► CIDCO to invite bids from Private

Parties for Development / Operations of Airport

► Initial feasibility Study completed

► Study recommends Airport should be commissioned by 2007 – 2008

► Awaiting kick-off of NMSEZ Development

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ANIK DEVELOPMENT CORPORATION

MAYFAIR HOUSING TATA HOUSING DEVELOPMENT COMPANY

LIMITED

Thank you