LARSEN & TOUBRO LIMITED

Investor Presentation

November 2010

Disclaimer
This presentation contains certain forward looking statements concerning L&Ts future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and the target countries for exports, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions with respect to investments, fiscal deficits, regulations, etc., interest and other fiscal costs generally prevailing in the economy. The company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the company.

November 2010

Presentation Outline

L&T Overview

Business Structure

Financial Performance

Sectoral Opportunities & Outlook

November 2010

Presentation Outline

L&T Overview

Business Structure

Financial Performance

Sectoral Opportunities & Outlook

November 2010

L&T At a Glance
Indias largest E&C company with interests in Projects, Infrastructure Development, Manufacturing, IT & Financial Services
Credit Rating
AAA Rating with Stable outlook from CRISIL

Revenues
FY10 Rs. 439.7 Bn

Market Cap Rs 1.218 Trillion as on 20TH Oct 10

Management
Professionally Managed Company

Won the The Economic Times Company of the year 2010 award in October 2010
November 2010

Sensex

L&T (Rs)

Strategic Plan Period

Both Sensex and L&T Scrip have moved over the last 10 years, sharply so in the last 5
November 2010

 Strategic Plan Period

L&T has been a 10-bagger over the last 5 years (46% CAGR)
November 2010

L&T Shareholding Pattern

Mutual Funds, 4.5% Domestic Companies, 6.2% Govt. Financial Institutions & Insurance Companies, 32.8% Major Shareholders Life Insurance Corporation of India L&T Employee Welfare Foundation UTI General Insurance Corp. of India Individuals, 24.0% Foreign Holdings & GDR, 20.2% New India Assurance Co. Ltd. % Shares 18.90% 12.30% 8.68% 2.10% 1.23%

L&T Employee Welfare Foundation, 12.3%

As at Sept 30, 2010

Listed with BSE & NSE L&T is one of the most widely held listed companies in India No promoter holdings FII-holding: 16.7% Uninterrupted Dividend payment record since 1946; FY 10 Dividend of Rs. 12.5 per share (PY: Rs 10.5)
November 2010

Experienced Management Team

A M Naik Chairman & Managing Director BE [Mech] Joined L&T in March 1965 Diverse experience in general management , Technology and E&C J P Nayak President (Machinery & Industrial Products) Graduate [Mech]; PG Diploma in Production Engineering Joined L&T in March 1965 Vast experience in manufacturing & marketing of construction/ industrial equipment & Cement Y M Deosthalee Chief Financial Officer B.Com, LLB, ACA Joined L&T in February 1974 Vast experience in the fields of Finance, Infotech Business & General Management V K Magapu Sr. Ex. VP (IT & Engineering Services) BE [Tech] IIT, Madras; MSc [Mech], Univ. of Calgary, Canada Joined L&T in October 1985 Vast experience in engineering & information technology

K Venkataramanan President (E&C Projects)

BE [Tech] IIT, Delhi Joined L&T in June 1969 Vast experience in product

K V Rangaswami President (Construction)

BE [Tech] IIT, Madras Joined L&T in April 1967 Vast experience in

engineering and project management

construction industry, Design Engineering and Ready Mix Concrete business

M V Kotwal Sr. Ex. VP (Heavy Industry) BE [Mech], Univ. of Bombay Joined L&T in October 1968 Vast experience in Heavy Engineering business including manufacture of critical equipment for Nuclear Power & Space Research Program

Ravi Uppal Sr. Ex. VP (Power) B.Tech (IIT, Delhi) Joined L&T in January 2009 Vast experience in Thermal Power Business

November 2010

Corporate Governance
L&Ts essential character revolves around values based on transparency, integrity, professionalism and accountability Four-tier Governance Structure

November 2010

10

Journey Towards Excellence

1990s -2005
Tied up with global

2006 -2010

JVs with MHI for super critical

power plant equipment manufacturing

Entry into Railways sector Initiated capacity expansion Commenced shipbuilding MoUs with Westinghouse, AEC

1960s -1980s
Emerges as one of the

technology majors for engineering in power and hydrocarbon sectors IT & Financial services,

largest & best erection contractors

Mid 90s: Entered into

Atomstroyexport, GE-Hitachi & Rolls Royce for Nuclear Power

heavy forging unit for Nuclear power and process plant sectors

1938 -1950s
1938: Formed as a

JV with NPCIL for setting up

Starts producing tractor

undercarriages, valves, Emerges as Indias welding components

partnership

1952: Listed

Commenced

Started with trading &

making dairy equipment, fabrication services, war-time ship repair

manufacturing earth-moving equipment, 1976 cement business in early 1980s fabrication facility and open yard on the waterfront at Hazira

Entered into the

Entered construction Entered into

business through ECC

switchgear business in 1950s

Established a

largest integrated E&C Divested non - core businesses company (glass, tractor, dairy plant Geared up concessions manufacturing, RMC & PDP) business by forming Scaled up Developmental IDPL in 2001 projects business. Foray into Demerged cement power generation business Acquisition of Tamco, a Entered into JVs and switchgear company in Malaysia acquisitions for Expansion of Financial services electrical into L&T Infrastructure products, upstream engineering and highFinance, General Insurance & end electronics Mutual fund business.

November 2010

Signed MOU with Boeing & EADS 11

E&C Delivery Platform

One of Asias largest vertically integrated E&C Company

ENGINEERING & PROJECTS DESIGN & CONSULTANCY

EPC PROJECTS

MANUFACTURING & FABRICATION

CONSTRUCTION

November 2010

Single point responsibility for turnkey solutions

12

L&Ts Sector-wide Presence

Buildings & Factories

Ports & Harbours

Infrastructure
Roads & Bridges Airports

Railways & Mass Rapid Transport November 2010

Water Projects

13

L&Ts Sector-wide Presence

Coal Gasifiers and other Power Plant Auxilliaries Power Generation (Gas and Coal Fired) : EPC, Equipment Mfg & BOP Hydel Power

Power

Transmission & Distribution

Nuclear Power Plant Construction

November 2010

Nuclear Power Plant Equipment

14

L&Ts Sector-wide Presence

HydrocarbonUpstream

Refineries & Petrochemicals

Hydrocarbon

Pipeline & Storage Facilities

Fertiliser Plant Equipment & EPC

Process Plant Equipment

November 2010

15

L&Ts Sector-wide Presence

Minerals & Metals

Aerospace

Process

Aerospace & Defense

Material Handling Systems November 2010

Defence

16

L&Ts Sector-wide Presence

Switchgear - Low Voltage

Switchboards Low and Medium Voltage

Electricals & Electronics

Control & Automation November 2010

Electronic Energy meters

17

L&Ts Sector-wide Presence

Hydraulic Excavators

Backhoe Loaders & Vibratory Compactors

Machinery & Industrial Products

Industrial Valves November 2010

Rubber & Plastic Processing Machinery

Welding Products & Cutting Tools

18

L&Ts Sector-wide Presence

L&T Finance, MF AMC and Gen. Insurance

L&T Infra Finance

Service Industry

L&T Infotech November 2010

Engineering and Design Services

19

L&Ts Sector-wide Presence

Roads

Ports

Airports

Developmental Projects

Urban Infra

Metro Rail

Power Generation

November 2010

20

Nation-wide Network & Coverage

Unmatched Nationwide Presence
Campuses in 14 locations Offices in 19 cities Management Development Centre - Lonavala Knowledge City Vadodara Logistic Advantages - Ability to optimize resources at various locations

November 2010

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Quality Customer Mix

Reputed customerslow customer credit risk Repeat business from customersstrong indicator of execution capabilities

GSRTC

Indian Coastguard

MIAL

November 2010

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Multiple Alliances & Joint Ventures

Alliances Joint Ventures

Pre qualifications

Befula Investments

Note: Some of these are project specific alliances & pre qualifications

November 2010

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L&Ts Sustainability Reporting

The L&T Sustainability Report 2009 is a GRI Checked Application Level A+ report.
* Conditions Apply.

Release date : November 2009

One of the 28 Indian companies with Sustainability Reports available in public domain
First Indian company in Engineering & Construction Segment Reported on all Core Performance Indicators (49) Externally assured for authenticity of the information presented

Note: L&Ts Sustainability Report 2009 is available for download on our corporate website: www.larsentoubro.com

November 2010

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Sustainability Conserving Natural Resources

16,893 3,512,844 15,099

3,980,781

12%

12%

Note: GJ represents Giga Joules

272,028

252,305

366,742

8%
79,169 10,224 32,793

November 2010

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Sustainability Our People & Creating Social Capital

Thrust Areas 1. Education

Activities Constructing Schools, Computers & Science Laboratories, pre-school centers and vocational training institutes. Providing teaching aids and conducting educational activities Blood donation camps, assistance during natural calamities, fund raising, etc. Establishing health centers, Reproductive health education, camps on Health check-up (women & children), Cataract, anemia, malnutrition and other health areas

Beneficiaries 47,000+

2. Employees Volunteering (400+ Volunteers) 3. Mother & Child Health

Several
172,000+

Presentation Outline

L&T Overview

Business Structure

Financial Performance

Sectoral Opportunities & Outlook

November 2010

27

L&Ts Business Structure

LARSEN & TOUBRO LIMITED
ENGINEERING & CONSTRUCTION ELECTRICAL & ELECTRONICS MACHINERY & INDUSTRIAL PRODUCTS INTEGRATED ENGINEERING SERVICES

CONSTRUCTION

E&C PROJECTS

HEAVY INDUSTRY
HEAVY EQUIPMENT & SYSTEMS SHIPBUILDING ELECTRICAL & AUTOMATION INDUSTRIAL MACHINERY & PRODUCTS CONSTRUCTION & MINING EQUIPMENT

BUILDINGS & FACTORIES

UPSTREAM

INFRASTRUCTURE METALLURGICAL, MATERIAL HANDLING & WATER ELECTRICAL PROJECTS & GULF OPERATIONS

MID & DOWNSTREAM POWER DEVELOPMENT & CONSTRUCTION

RAILWAY PROJECTS

EPC POWER

November 2010

28

Subsidiary & Associates Portfolio

L&T Group
Domestic International

Services

Power

Fin. Serv.

IT Services

Eng. & Design

Devl. SPVs

Manu. Manu. Projects

Power Devl. & Equipment Manu.
Fabrication

&

November 2010

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Presentation Outline

L&T Overview

Business Structure

Financial Performance

Sectoral Opportunities & Outlook

November 2010

30

Sustaining Growth
Order Inflow
696

Net Sales
367

Rs. Billion

420 224 306

Rs. Billion

516

336 249 147 176

FY 06 FY 07 FY 08 FY 09 FY 10

FY 06 FY 07 FY 08 FY 09 FY 10

Order Book
1002

Recurring PAT
31.9 27.1

Rs. Billion

Rs. Billion

703 527 249 369

21.0 13.9 8.6

FY 06 FY 07 FY 08 FY 09 FY 10 November 2010

FY 06 FY 07 FY 08 FY 09 FY 10

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Performance Highlights Q2 FY11

Sales up by 18% Order Inflow up by 11%

November 2010

Order Book up by 41%

EBITDA Margins up by 20 bps

Recurring PAT up by 22%

32

Performance Highlights H1 FY11

Sales up by 12% Order Inflow up by 29%

November 2010

Order Book up by 41%

EBITDA Margins up by 90 bps

Recurring PAT up by 19%

33

Order Inflow & Order Book H1 FY11

Sectoral Break-up
Order Inflow: ` 360.90 Bn Order Book: ` 1153.93 Bn

28%

47%

8% 9% 8%

31%

37%

15%

12% 5%

Infrastructure

Power

Hydrocarbons

Process

Others

Infrastructure Roads & Bridges Ports & Harbours Airports Railways Buildings & Factories Urban Infra Water
November 2010

Power Generation Equipment Electrification / Transmission & Distribution

Hydrocarbons Upstream Mid & Downstream Pipelines Fertilisers Valves

Process Minerals & Metals Bulk Material Handling

Others Shipbuilding Defense & Aerospace Construction & Mining Eqpt. Electrical & Electronic Products Technology Services 34

Order Inflow & Order Book H1 FY11

Geographical Break-up 1% 2%
5%

Customer Profile

4%
28%

15%

24% 94% 94%

44%

48%

41%

Order Inflow

Order Book

Order Inflow Private

Order Book

Domestic Middle East Others November 2010

Public (Incl. PSUs) Devl. Projects (L&T)

35

Performance Summary - Topline

Q2 FY11 204.64 92.61 9.74 0.70 93.31 Q2 FY10 183.65 78.66 17.33 0.55 79.21 % Rs. Billion Change 11% Order Inflows Order Book 18% Net Sales --- Exports Other Operational Income 18% Total Net Revenues H1 FY11 360.90 1,153.93 170.96 20.21 1.16 172.12 H1 FY10 279.36 816.23 152.29 32.65 0.99 153.28 12% % Change 29% 41% 12% FY10 695.72 1,002.39 366.75 64.46 3.60 370.35

Order Inflow growth led by Power and Infrastructure sector Execution pickup seen in Q2; Yearly sales accrual skewed towards H2 in line with Order inflow pattern in FY10 BTG orders have started contributing to revenue Slowdown in Middle East impacts export orders

November 2010

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Performance Summary Operational Costs

Q2 FY11 ` Bn 69.85 8.29 5.11 83.25 % to Total Net Revenues 74.8% 8.9% 5.5% 89.2% ` Bn 60.47 7.10 3.26 70.83 Q2 FY10 % to Total Net Particulars Revenues 76.3% Manf., Cons. & Opex (MCO) 9.0% Staff Costs 4.1% Sales, adm. & other Exp. 89.4% Total Operational Costs ` Bn 129.46 13.92 8.50 151.88 H1 FY11 % to Total Net Revenues 75.2% 8.1% 4.9% 88.2% ` Bn 117.80 12.21 6.58 136.59 H1 FY10 % to Total Net Revenues 76.8% 8.0% 4.3% 89.1%

Net reduction in MCO (% of Sales) due to higher proportion of margin yielding sales Staff costs step-up due to increased manpower and compensation revision

Increase in SGA primarily due to provisions for cost escalation and

exchange variation
November 2010

37 37

Performance Summary Profitability

Q2 FY11 10.06 10.8% (1.94) (1.21) 3.82 (3.79) 6.94 0.71 7.65 Q2 FY10 8.38 10.6% (1.26) (1.00) 2.12 (2.56) 5.68 0.12 5.80 % ` Billion Change 20% EBITDA 0.2% EBITDA Margins 53% Interest Expenses 21% Depreciation Other Income Provision for Taxes 22% PAT before Exceptional Items Extraordinary & Exceptional Items (Net of tax) 32% Profit after Tax H1 FY11 20.24 11.8% (3.35) (2.35) 5.97 (6.91) 13.60 0.71 14.31 H1 FY10 16.69 10.9% (2.36) (1.94) 4.36 (5.29) 11.46 10.32 21.78 -34% 19% % Change 21% 0.9% 42% 21% FY10 48.16 13.0% (5.05) (4.15) 9.10 (16.21) 31.85 11.91 43.76

Margins improvement due to favourable job mix Increased interest cost due to higher borrowing levels and rise in interest rates Increase in Other Income primarily occasioned by increase in treasury income and S&A Co. dividend

Extra-ordinary item in Q2 FY11 represents Satyam provision reversal

November 2010

38 38

Performance Summary Balance Sheet

Sep-09 ` Billion 148.27 Net Worth 69.43 Loan Funds 0.60 Deferred Tax Liabilities (Net) 218.30 Total Sources Sep-10 199.41 77.24 0.84 277.49 69.79 66.41 88.78 3.02 49.49 277.49 Mar-10 183.12 68.01 0.77 251.90 63.66 79.65 76.79 5.49 26.31 251.90 Increase / (Decrease) 16.29 9.23 0.07 25.59 6.13 (13.24) 11.99 (2.47) 23.18 25.59

56.21 Net Fixed Asset 55.77 Current Investments 53.97 Invt./ICDs/Loans & Advances to S&A Cos 3.05 Other Investments

49.30 Net Current Assets 218.30 Total Applications

Gross D/E: 39% Capex Outlay: ` 7.59 Bn Support to growth ventures funded through sale of current investments Change in Net Current Assets: Segmental NWC increased from 7.6% to 9.1% (% of Sales) Payment of dividend : ` 7.53 Bn

Support to S&A Cos includes: L&T Power Development ` 4.35 Bn L&T Power (MHI JVs) - ` 1.53 Bn L&T Finance & Infra Finance - ` 1.73 Bn L&T General Insurance - ` 1.46 Bn Road SPVs - ` 1.21 Bn L&T IDPL - ` 1.18 Bn

November 2010

39 39

Segmental Break-up H1 FY11

Machinery & Industrial Products 6.9% (6.0%)

Net Revenues
Others 1.7% (1.1%) Engineering & Construction 83.9% (85.2%)

Electrical & Electronics 7.5% (7.7%)

Machinery & Industrial Products 10.3% (10.2%) Electrical & Electronics 7.4% (9.7%)

EBITDA
Others 2.3% (1.3%) Engineering & Construction 80.0% (78.8%)

Figures in the bracket indicate corresponding period of the Previous Year

November 2010

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Engineering & Construction Segment

Q2 FY11 188.80 1.91 Q2 FY10 170.04 16.19 % ` Billion Change 11% Total Order Inflows --- Exports Total Order Book --- Exports 78.87 7.72 9.92 12.6% 66.80 15.17 7.58 11.3% 18% Total Net Revenues --- Exports 31% EBITDA 1.2% EBITDA Margins Net Segment Assets H1 FY11 327.26 16.52 1,130.30 64.01 144.43 16.23 18.86 13.1% 73.34 H1 FY10 253.77 20.57 798.57 97.92 130.63 28.67 15.17 11.6% 71.08 24% 1.4% 3% 11% 42% % Change 29% FY10 638.99 29.31 983.86 71.28 318.42 56.26 43.39 13.6% 62.91

Order Inflows show increasing signs of elasticity in prospect to award timelines Export orders adversely affected by shifting of award deadlines in Middle East (mainly in T&D and Hydrocarbon sectors) Execution pickup seen in construction and hydrocarbon contracts under execution Growth in margins due to execution efficiencies
November 2010

41

Electrical & Electronics Segment

Q2 FY11 6.15 0.54 0.93 15.2% Q2 FY10 6.58 0.78 1.13 17.1% % ` Billion Change -7% Total Net Revenues ---Exports -17% EBITDA -2.0% EBITDA Margins Net Segment Assets H1 FY11 12.95 1.07 1.75 13.5% 11.57 H1 FY10 11.84 1.29 1.87 15.8% 11.30 -6% -2.2% 2% % Change 9% FY10 26.94 2.74 4.23 15.7% 11.32

Q2 Sales impacted by project deferment in Engineered-to-Order

business Margins adversely affected by input cost rise and competitive pricing pressures

November 2010

42

Machinery & Industrial Products Segment

Q2 FY11 6.70 0.31 1.23 18.4% Q2 FY10 4.92 0.55 0.97 19.7% % ` Billion Change 36% Total Net Revenues ---Exports 27% EBITDA -1.3% EBITDA Margins Net Segment Assets H1 FY11 11.93 0.62 2.43 20.4% 2.72 H1 FY10 9.12 1.13 1.96 21.5% 1.94 24% -1.1% 41% % Change 31% FY10 21.35 2.06 4.71 22.1% 2.24

Growth in Sales led by increased offtake in Industrial valves and Mining & Construction equipment business Margins affected by higher input costs and lower exports Increase in Net Segment Assets driven by higher Capex

November 2010

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Consolidated Financials FY10

November 2010

44

Consolidated P&L Statement

L&T FY10 370.35 Rs Billion Total Net Reveunes (Net Sales + Other Operational Income) L&T Group FY10 439.70 64.39 14.6% (6.92) (9.79) 7.60 (18.66) 36.62 1.06 0.29 37.97 16.54 54.51 FY09 405.11 50.24 12.4% (5.28) (7.28) 5.76 (14.23) 29.21 0.51 0.35 30.07 7.82 37.89 44% 26% % Change 9% 28%

48.16 EBITDA 13.0% EBITDA Margins (5.05) Interest Expenses (4.15) Depreciation 9.10 Other Income (16.21) Provision for Taxes 31.85 PAT (before Exceptional Items) 31.85 11.91 43.76 Share of profits in Associate Cos. Minority Interest PAT after Minority Interest (before Exceptional Items) Extraordinary & Exceptional Items (Net of tax & Minortiy Interest) Profit After Tax

November 2010

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Consolidated Balance Sheet

L&T Mar-10 183.12 68.01 0.77 251.90 63.66 79.65 76.79 5.49 26.31 251.90 Rs. Billion Net W orth: Financial Services Dev. Projects Others Minority Interest Loan Funds: Financial Services Dev. Projects Others Def. Payment Liab. (Devl. Proj.) Deferred Tax Liabilities (Net) Total Sources Net Fixed Asset Current Investments Invt./ICDs/Loans & Advances to S&A Cos Other Investments Net Current Assets Dev. Business Assets Loans tow ards financing activities Total Applications 95.05 55.75 75.76 19.51 1.53 468.39 98.51 85.60 5.06 8.62 63.62 97.63 109.35 468.39 62.16 43.23 78.61 19.70 1.31 355.47 74.12 52.18 4.89 11.03 54.76 87.39 71.10 355.47 32.89 12.52 (2.85) (0.19) 0.22 112.92 24.39 33.42 0.17 (2.41) 8.86 10.24 38.25 112.92 20.73 29.34 159.84 10.88 13.27 19.54 107.06 10.59 7.46 9.80 52.78 0.29 L&T Group Mar-10 Mar-09 Inc/(Dec)

November 2010

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Performance of Key Subsidiaries

November 2010

47

L&T Infotech
Amount in ` Bn

Total Income
11.53 9.42 4.69 5.65
22%

Profit After Tax

1.57 1.18 0.57 0.61 0.79
32%

5.88

0.78

4.73

H1 FY10 Q1

H1 FY11 Q2

H1 FY10 Q1

H1 FY11 Q2

Sequential growth continues. Healthy growth in margins due to better utilisation

November 2010

48

November 2010

49

November 2010

50

Developmental Projects

Roads & Bridges 15 projects (7 operational) 5682 Lane Km Proj. Cost: ` 132 Bn

Power 3 projects 2259 MW Proj. Cost: ` 157 Bn

Ports 3 projects 45 MTPA Proj. Cost: ` 53 Bn

Metro Rails 1 project 71.16 Km Metro rail

Urban Infra 14 projects 23 Million sq.ft Proj. Cost: ` 78 Bn

Total Project Cost (Sept 2010): ` 570 Bn

Total Equity Commitment (Sept 2010): ` 114 Bn

Total Equity Invested (Sept 2010): ` 34 Bn

51

Presentation Outline

L&T Overview

Business Structure

Financial Performance

Sectoral Opportunities & Outlook

November 2010

52

Sectoral Opportunities - Infrastructure

Environment Increased budgetary support Slowdown in pace of NHAI awards Thrust on PPP Water shortages Real Estate Pick-up

Opportunities Roads & Bridges: Highways & Mega road projects Metros: Underground & Elevated Metros in Tier I & II cities Monorail expansion in Mumbai Railways: Rolling Stock facilities, Station Development, Private Sector Railway Sidings and DFC Water: Water Supply & Sanitation/ Desalination projects Real Estate & Office space: Metro Cities Opportunities in Healthcare, Education and Tourism Infra

November 2010

53

Sectoral Opportunities - Power

Environment Power deficit and increasing energy requirements Governments plans to speed up Coal linkages Thrust on Supercritical power plant technology Government favoring domestic BTG manufacturers Chinese Competition active in private sector space Thrust on Nuclear, Hydel & Solar Power (clean energy) BOP & T&D capex slated to increase

Opportunities EPC, BTG & BOP projects for Coal Based power plants EPC projects for Gas Based Power plants Nuclear power plant construction and equipment supply (Reactors, Steam Generators, Forgings, Civil & others) EPC projects for T&D in India (Including PPP) and GCC

November 2010

54

Sectoral Opportunities - Hydrocarbon

Environment Crude Price stability and demand Hydrocarbon Capex has become lumpy Intense Domestic and International Competition Middle East awards getting deferred Small signs of pick-up in FPSO and Rig market Fertilizers: Increase in demand for Food grains Availability of Natural Gas as feedstock Opportunities Upstream jobs: Process Platforms, Wellhead platforms and subsea pipelines Module supply opportunities in International markets Residue Upgradation projects in Refineries EPC jobs for Petrochemicals Construction and pipeline jobs Rigs & FPSOs in Brazil, Middle East and Domestic Ammonia Expansion Projects
November 2010

55

Sectoral Opportunities - Process

Environment Minerals & Metals India is net importer of steel Demand outpacing capacity Capacity expansion plans on anvil Bulk Material Handling Growth in Mining sector Demand from power sector in tandem with BOP Increase in Port Traffic

Opportunities EPC projects for capacity expansion plans for both ferrous and non-ferrous Domestic investment in Power, Mines, Ports, Metals industry to provide opportunities for Material Handling Systems

November 2010

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Outlook
Healthy Balance Sheet, Strong Order Book
Capability Building Initiatives Increased spends on Infra with Focus on Power & Roads

Capacity Creation Initiatives

OUTLOOK

Improved Fiscal Deficit, favorable Monsoon, high GDP growth forecast

Robust Internal Processes

November 2010

Sound Business Strategy

Prudent Monetary Policy, high Inflation and liquidity

57

Bucket Wheel Excavator

Khandala Lonavala Bypass

Steam Generators for a nuclear power plant

Dam

Reactor Vessel for a nuclear power plant

Bahai Temple, Delhi

November 2010

.some of our landmark offerings

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