>Diluted EPS INCLUDING EXTRAORDINARY ITEMS

COMPANY NAME 2019 2018 2017

Ashoka Buildcon LTD (1.19) (3.96) (0.35)
GMR Infrastructure LTD (5.95) (2.27) (0.95)
KEC International LTD 19.28 17.91 11.86
KNR Constructions LTD 19.24 17.31 8.17
KPIT Technologies LTD 1.98 (0.01) 0.00
L&T Technologies Services LTD 72.91 48.18 39.63
Larsen & Toubro LTD 63.40 52.49 43.05
NBCC(India) LTD 2.08 1.97 1.97
NCC LTD 9.63 2.99 0.57
PNC Infratech LTD 13.70 9.47 4.61
Techno Electro & Electric Engineering LTD 17.16 18.25 16.88
Voltas LTD 15.35 17.30 15.38
INDUSTRY AVERAGE 18.97 14.97 11.74
INDUSTRY MEDIAN 14.53 13.39 6.39

>Gross Dividends- Common Stock

COMPANY NAME 2019 2018 2017

Ashoka Buildcon LTD 0 149,741 0
GMR Infrastructure LTD 0 0 0
KEC International LTD 694,100 617,000 411,400
KNR Constructions LTD 0 56,247 70,309
KPIT Technologies LTD 247,870 0 0
L&T Technologies Services LTD 1,404,000 408,996 0
Larsen & Toubro LTD 25,249,100 22,421,900 19,592,300
NBCC(India) LTD 0 0 1,467,000
NCC LTD 901,000 222,370 222,370
PNC Infratech LTD 0 128,270 128,270
Techno Electro & Electric Engineering LTD 0 0 0
Voltas LTD 1,323,500 1,323,500 1,158,097
INDUSTRY AVERAGE 2,484,964 2,110,669 1,920,812
INDUSTRY MEDIAN 123,935 139,006 99,290
>Basic Normalized EPS
COMPANY NAME 2019 2018 2017
Ashoka Buildcon LTD 0.18 (3.98) (0.42)
GMR Infrastructure LTD (3.93) (2.44) (1.24)
KEC International LTD 18.72 17.92 12.24
KNR Constructions LTD 19.40 17.07 8.59
KPIT Technologies LTD 3.00 (0.01) 0.00
L&T Technologies Services LTD 75.87 52.22 44.23
Larsen & Toubro LTD 61.92 52.24 43.00
NBCC(India) LTD 2.08 1.97 1.97
NCC LTD 10.56 4.59 1.57
PNC Infratech LTD 13.70 9.46 4.65
Techno Electro & Electric Engineering LTD 17.16 18.25 15.45
Voltas LTD 15.63 17.29 15.39
INDUSTRY AVERAGE 19.52 15.38 12.12
INDUSTRY MEDIAN 14.67 13.27 6.62

>Equity in affiliates, Supplemental

COMPANY NAME 2019 2018 2017
Ashoka Buildcon LTD (10,496) 592,044 47,162
GMR Infrastructure LTD (878,900) (4,313,600) (684,000)
KEC International LTD 0 0 0
KNR Constructions LTD 30,860 575 79,757
KPIT Technologies LTD 0 0 0
L&T Technologies Services LTD 0 0 0
Larsen & Toubro LTD (210,000) (4,358,600) (3,952,700)
NBCC(India) LTD 3,752 5,767 1,062
NCC LTD (68,600) (67,070) (311,890)
PNC Infratech LTD 6,993 (59,695) (207,254)
Techno Electro & Electric Engineering LTD 23,630 53,691 28,807
Voltas LTD (518,200) 38,000 (192,434)
INDUSTRY AVERAGE (135,080) (675,741) (432,624)
INDUSTRY MEDIAN 0 0 0

>Minority interest, Supplemental

COMPANY NAME 2019 2018 2017
Ashoka Buildcon LTD 68,245 75,112 1,153,961
GMR Infrastructure LTD (2,242,900) (2,492,700) (2,102,900)
KEC International LTD 0 0 0
KNR Constructions LTD 56,190 145,295 161,484
KPIT Technologies LTD (8,340) 0 0
L&T Technologies Services LTD (28,000) (6,000) (1,000)
Larsen & Toubro LTD (13,114,500) (6,345,700) (4,442,700)
NBCC(India) LTD (164,803) (174,307) 2,050
NCC LTD 111,200 299,050 232,800
PNC Infratech LTD 0 3 0
Techno Electro & Electric Engineering LTD 44 0 0
Voltas LTD (59,700) (55,000) (24,292)
INDUSTRY AVERAGE (1,281,880) (712,854) (418,383)
INDUSTRY MEDIAN (4,170) 0 0

>Research & Development Expenses, Supplemental

COMPANY NAME 2019 2018 2017
Ashoka Buildcon LTD 0 0 0
GMR Infrastructure LTD 0 0 0
KEC International LTD 276,100 226,531 224,971
KNR Constructions LTD 0 0 0
KPIT Technologies LTD 0 0 0
L&T Technologies Services LTD 0 0 0
Larsen & Toubro LTD 2,322,700 1,799,000 1,778,800
NBCC(India) LTD 0 0 0
NCC LTD 0 0 0
PNC Infratech LTD 0 0 0
Techno Electro & Electric Engineering LTD 0 0 0
Voltas LTD 50,000 54,400 45,117
INDUSTRY AVERAGE 220733.3333 173327.5833 170740.667
INDUSTRY MEDIAN 0 0 0

>Normalized EBIDTA
COMPANY NAME 2019 2018 2017
Ashoka Buildcon LTD 13,942,715 11,395,169 8,960,213
GMR Infrastructure LTD 17,203,500 22,342,000 37,191,800
KEC International LTD 9,789,700 10,243,270 8,554,210
KNR Constructions LTD 5,366,757 4,531,027 2,664,584
KPIT Technologies LTD 940,480 (2,660) 0
L&T Technologies Services LTD 9,397,000 6,113,000 6,138,000
Larsen & Toubro LTD 157,839,500 132,431,000 106,771,200
NBCC(India) LTD 3,651,054 4,325,064 4,152,320
NCC LTD 16,054,900 8,892,400 6,784,390
PNC Infratech LTD 10,068,055 7,621,976 6,189,094
Techno Electro & Electric Engineering LTD 2,490,775 2,996,065 3,125,075
Voltas LTD 6,758,700 7,107,500 6,190,938
INDUSTRY AVERAGE 21,125,261 18,166,318 16,393,485
INDUSTRY MEDIAN 9,593,350 7,364,738 6,190,016
Y ITEMS
2016 2015 2014 2013 2012 2011 2010 2009
2.08 3.42 4.09 3.52 5.21 9.29 3.63 2.33
(3.82) (6.46) 0.03 0.22 (1.52) (2.35) 0.42 0.75
7.45 6.26 2.60 2.53 8.14 8.00 7.66 4.73
8.99 4.96 4.30 3.49 3.33 4.12 4.69 3.10
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
32.10 23.69 0.00 0.00 0.00 0.00 0.00 0.00
36.29 33.99 35.10 127.19 33.81 32.20 40.07 28.40
1.73 1.55 1.43 1.15 1.06 0.78 0.66 0.90
1.99 1.23 0.08 1.34 1.31 5.30 7.07 4.85
8.68 4.59 2.61 3.75 3.94 3.57 2.68 1.47
12.31 9.20 7.66 10.54 10.59 9.88 10.36 5.52
11.65 11.62 7.42 6.28 4.90 10.80 11.51 7.60
9.95 7.84 5.44 13.33 5.90 6.80 7.40 4.97
8.07 4.78 2.61 3.01 3.64 4.71 4.16 2.72

2016 2015 2014 2013 2012 2011 2010 2009

280,730 242,085 236,930 210,604 0 0 0 0
0 0 389,200 389,200 0 0 0 0
257,088 231,380 154,253 128,544 308,506 308,506 308,506 246,723
28,123 28,123 28,123 28,123 28,123 56,247 56,247 56,247
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
16,999,500 15,105,400 13,208,500 11,384,700 10,104,600 8,828,400 7,527,500 6,149,700
1,200,000 660,000 600,000 450,000 420,000 0 0 0
333,560 222,370 51,320 76,970 76,970 256,580 333,560 251,740
128,270 76,964 29,860 29,860 0 0 0 0
285,456 231,177 171,274 171,274 171,274 114,182 114,182 57,091
860,300 744,491 612,137 529,416 529,416 661,769 661,769 529,416
1,697,752 1,461,833 1,290,133 1,116,558 969,907 852,140 750,147 607,576
268,909 226,774 162,764 149,909 52,547 28,124 28,124 28,124
 2016 2015 2014 2013 2012 2011 2010 2009
3.40 3.43 4.39 5.01 5.95 5.40 3.69 2.33
(3.64) (5.98) (7.19) (3.15) (1.25) (1.03) 0.43 0.75
7.41 3.02 2.85 2.53 6.90 8.00 7.71 4.77
8.94 4.84 4.18 3.48 3.23 4.16 4.69 3.20
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
37.08 27.87 0.00 0.00 0.00 0.00 0.00 0.00
36.13 32.59 33.43 116.65 34.79 32.30 40.16 23.21
1.73 1.55 1.52 1.17 1.03 0.78 0.66 0.89
2.31 1.20 0.09 1.25 1.27 5.27 7.07 4.87
8.68 4.59 2.61 3.75 3.93 3.57 2.68 1.47
10.67 9.20 7.66 10.72 11.03 9.88 10.42 5.52
11.26 10.58 6.95 6.01 9.32 10.82 11.84 7.57
10.33 7.74 4.71 12.29 6.35 6.60 7.45 4.55
8.05 4.01 2.73 3.01 3.58 4.72 4.19 2.77

2016 2015 2014 2013 2012 2011 2010 2009

(139,881) (288,145) (72,360) 0 0 0 0 0
(55,200) (129,800) 0 0 0 (34,600) (215,800) 0
237 108 (49) 0 (1,442,756) 0 0 0
(67,997) (20,136) (50,868) (22,814) (23,466) 12,372 96,042 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
(25,100) 21,400 92,500 384,300 461,600 870,700 1,059,500 509,000
0 0 0 0 0 0 3,270 3,900
(138,390) (136,240) (193,470) (67,710) (1,298,220) 7,570 (187,100) 117,160
(130,712) 0 0 0 0 0 0 0
(1,600) 0 0 0 0 0 0 0
22,770 16,332 0 0 (500) 0 0 (2,447)
(44,656) (44,707) (18,687) 24,481 (191,945) 71,337 62,993 52,301
(13,350) 0 0 0 0 0 0 0
 2016 2015 2014 2013 2012 2011 2010 2009
994,764 828,326 425,127 389,285 0 0 0 0
(1,565,400) 2,389,100 (1,176,600) (864,000) 4,555,000 1,204,900 (453,600) 23,400
0 0 0 0 0 0 0 0
258 226 0 0 2 281 1,000 0
0 0 0 0 0 0 0 0
0 (2,120) 0 0 0 0 0
(4,449,500) (1,710,000) 381,600 (721,800) (347,600) (785,600) (975,300) 314,400
168 0 0 0 0 0 0 0
340,380 60,140 122,750 111,380 (13,350) (3,470) 27,030 (11,570)
(11) 6 45,440 20 0 0 0 0
0 (11,922) (11,763) 0 0 0 0 0
(88,234) (33,314) (4,512) 7,072 939 56,597 (35,720) (28,895)
(397,298) 126,704 (18,163) (89,837) 349,583 42,973 (119,716) 24,778
0 0 0 0 0 0 0 0

plemental
2016 2015 2014 2013 2012 2011 2010 2009
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
166,275 158,297 165,810 109,694 98,311 67,111 19,095 19,448
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
1,873,300 1,650,700 1,071,400 23,134,000 19,641,300 15,659,800 11,753,400 13,325,300
0 0 0 0 0 0 0 0
0 0 121,320 61,840 175,550 316,200 175,450 32,510
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
43,372 36,430 0 0 0 0 39,840 27,752
173578.91667 153785.5833 113210.8333 1942127.833 1659596.75 1336925.92 998982.0833 1117084.167
0 0 0 0 0 0 0 0
 2016 2015 2014 2013 2012 2011 2010 2009
7,722,447 5,120,037 3,954,727 4,099,977 3,635,634 2,229,905 1,488,176 1,212,538
42,587,800 26,534,900 9,296,400 16,258,500 17,457,200 14,404,900 11,950,300 8,662,900
6,970,399 5,739,704 5,286,538 4,391,901 4,942,788 3,343,913 4,080,431 4,068,681
1,747,308 1,268,254 1,315,318 1,166,602 1,314,203 1,496,733 1,250,843 1,105,236
0 0 0 0 0 0 0 0
5,855,790 4,497,690 0 0 0 0 0 0
126,579,800 114,743,800 117,597,800 108,512,100 93,342,900 77,638,700 67,320,500 52,035,900
3,566,433 2,925,367 2,678,602 1,595,613 1,468,618 1,365,370 1,152,010 1,700,620
10,637,060 10,016,360 7,596,130 8,226,590 8,851,400 7,158,660 6,592,610 5,059,410
4,073,454 2,800,388 1,738,250 1,562,540 1,534,920 1,287,950 932,872 595,680
2,214,201 2,082,669 1,988,573 2,369,609 2,256,223 1,635,202 1,430,602 564,633
4,784,559 4,477,491 3,005,016 2,454,034 4,019,349 5,059,916 4,970,869 3,173,394
18,061,604 15,017,222 12,871,446 12,553,122 11,568,603 9,635,104 8,430,768 6,514,916
5,320,175 4,487,591 2,841,809 2,411,822 2,945,929 1,932,554 1,459,389 1,456,579
 Chart Title
140.00

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100.00

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2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
(20.00)

Chart Title
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2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
 Chart Title
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(20.00)

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2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
(1,000,000)

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 Chart Title
6,000,000
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(2,000,000)
(4,000,000)
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25000000

20000000

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2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
 Chart Title
180,000,000
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0
2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
(20,000,000)